Document:

Purchase Agreement, dated as of May 24, 2007

 Exhibit 10.1 
 Execution Copy 
 PURCHASE AGREEMENT 
 between 
 AFS SENSUB CORP. 
 Purchaser 
 and 
 AMERICREDIT FINANCIAL SERVICES, INC. 
 Seller 
 Dated as of May 24, 2007 

 TABLE OF CONTENTS 
  

							
	 	  	 	  	 	  	Page
	
	 ARTICLE I. DEFINITIONS

				
		  	SECTION 1.1	  	General	  	1
		  	SECTION 1.2	  	Specific Terms	  	1
		  	SECTION 1.3	  	Usage of Terms	  	3
		  	SECTION 1.4	  	[Reserved]	  	3
		  	SECTION 1.5	  	No Recourse	  	3
		  	SECTION 1.6	  	Action by or Consent of Noteholders and Certificateholder	  	3
	
	 ARTICLE II. CONVEYANCE OF THE RECEIVABLES AND THE OTHER CONVEYED PROPERTY

				
		  	SECTION 2.1	  	Conveyance of the Initial Receivables and the Initial Other Conveyed Property	  	4
		  	SECTION 2.2	  	Conveyance of the Subsequent Receivables and the Subsequent Other Conveyed Property	  	5
	
	 ARTICLE III. REPRESENTATIONS AND WARRANTIES

				
		  	SECTION 3.1	  	Representations and Warranties of Seller	  	5
		  	SECTION 3.2	  	Representations and Warranties of Purchaser	  	7
	
	 ARTICLE IV. COVENANTS OF SELLER

				
		  	SECTION 4.1	  	Protection of Title of Purchaser	  	9
		  	SECTION 4.2	  	Other Liens or Interests	  	11
		  	SECTION 4.3	  	Costs and Expenses	  	11
		  	SECTION 4.4	  	Indemnification.	  	11
	
	 ARTICLE V. REPURCHASES

				
		  	SECTION 5.1	  	Repurchase of Receivables Upon Breach of Warranty	  	13
		  	SECTION 5.2	  	Reassignment of Purchased Receivables	  	14
		  	SECTION 5.3	  	Waivers	  	14
	
	 ARTICLE VI. MISCELLANEOUS

				
		  	SECTION 6.1	  	Liability of Seller	  	14
		  	SECTION 6.2	  	Merger or Consolidation of Seller or Purchaser	  	14
		  	SECTION 6.3	  	Limitation on Liability of Seller and Others	  	15
		  	SECTION 6.4	  	Seller May Own Notes or the Certificate	  	15
		  	SECTION 6.5	  	Amendment.	  	15
		  	SECTION 6.6	  	Notices	  	16
		  	SECTION 6.7	  	Merger and Integration	  	16
		  	SECTION 6.8	  	Severability of Provisions	  	16
		  	SECTION 6.9	  	Intention of the Parties.	  	16
		  	SECTION 6.10	  	Governing Law	  	18
		  	SECTION 6.11	  	Counterparts	  	18
		  	SECTION 6.12	  	Conveyance of the Receivables and the Other Conveyed Property to the Issuer	  	18
		  	SECTION 6.13	  	Nonpetition Covenant	  	18

  

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	 SCHEDULES

	
	 Schedule A — Schedule of Initial Receivables

	 Schedule B — Representations and Warranties from Seller as to the Receivables

	
	 EXHIBITS

	
	 Exhibit A — Form of Subsequent Purchase Agreement

  

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 PURCHASE AGREEMENT 
 THIS PURCHASE AGREEMENT, dated as of May 24, 2007, executed between AFS SenSub Corp., a Nevada corporation, as purchaser (“Purchaser”) and AmeriCredit Financial Services, Inc., a Delaware
corporation, as Seller (“Seller”). 
 WITNESSETH: 
 WHEREAS, Purchaser has agreed to purchase from the Seller, and the Seller, pursuant to this Agreement, is transferring to Purchaser the Initial
Receivables and Initial Other Conveyed Property and with respect to the Subsequent Receivables will transfer on the related Subsequent Transfer Date the Subsequent Receivables and Subsequent Other Conveyed Property. 
 NOW, THEREFORE, in consideration of the premises and the mutual agreements hereinafter contained, and for other good and valuable consideration, the
receipt of which is acknowledged, Purchaser and the Seller, intending to be legally bound, hereby agree as follows: 
 ARTICLE I.

 DEFINITIONS 
 SECTION 1.1 General. The specific terms defined in this Article include the plural as well as the singular. The words “herein,” “hereof” and “hereunder” and other words of similar import refer to this
Agreement as a whole and not to any particular Article, Section or other subdivision, and Article, Section, Schedule and Exhibit references, unless otherwise specified, refer to Articles and Sections of and Schedules and Exhibits to this Agreement.
Capitalized terms used herein without definition shall have the respective meanings assigned to such terms in the Sale and Servicing Agreement dated as of May 24, 2007, by and among AFS SenSub Corp. (as Seller), AmeriCredit Financial Services,
Inc. (in its individual capacity and as Servicer), AmeriCredit Prime Automobile Receivables Trust 2007-1 (as Issuer), Wells Fargo Bank, National Association, as Backup Servicer and Trust Collateral Agent. 
 SECTION 1.2 Specific Terms. Whenever used in this Agreement, the following words and phrases, unless the context otherwise requires, shall have
the following meanings: 
 “Agreement” shall mean this Purchase Agreement and all amendments hereof and supplements hereto.

 “Closing Date” means May 31, 2007. 
 “Initial Other Conveyed Property” means all property conveyed by the Seller to the Purchaser pursuant to Sections 2.1(a)(2) through (8) of this Agreement and by the Purchaser to the Trust
pursuant to the Sale and Servicing Agreement. 
 “Initial Receivables” means the Receivables listed on the Schedule of
Initial Receivables attached hereto. 

 “Issuer” means AmeriCredit Prime Automobile Receivables Trust 2007-1. 
 “Originators” means each of AmeriCredit Financial Services, Inc. and Bay View Acceptance Corporation. 
 “Other Conveyed Property” means the Initial Other Conveyed Property and the Subsequent Other Conveyed Property. 
 “Owner Trustee” means Wilmington Trust Company, as Owner Trustee appointed and acting pursuant to the Trust Agreement. 
 “Purchase Agreement Collateral” has the meaning specified in Section 6.9 of this Agreement. 
 “Receivables” means the Initial Receivables and the Subsequent Receivables. 
 “Related Documents” means the Notes, the Certificate, the Custodian Agreement, the Sale and Servicing Agreement, the Indenture, the
Trust Agreement, the Swap Agreement, the Underwriting Agreement, the Note Purchase Agreement and, with respect to the Subsequent Receivables, each Subsequent Purchase Agreement and each Subsequent Transfer Agreement. The Related Documents to be
executed by any party are referred to herein as “such party’s Related Documents,” “its Related Documents” or by a similar expression. 
 “Repurchase Event” means the occurrence of a breach of any of the Seller’s representations and warranties hereunder or in any
Subsequent Purchase Agreement or any other event which requires the repurchase of a Receivable by the Seller, under the Sale and Servicing Agreement. 
 “Sale and Servicing Agreement” means the Sale and Servicing Agreement referred to in Section 1.1 hereof. 
 “Schedule of Initial Receivables” means the schedule of Initial Receivables sold and transferred pursuant to this Agreement which is attached hereto as Schedule A. 
 “Schedule of Representations” means the Schedule of Representations and Warranties attached hereto as Schedule B. 
 “Subsequent Cutoff Date” means the date specified in the related Subsequent Transfer Agreement, provided, however that such date shall
be on or before the Subsequent Transfer Date. 
 “Subsequent Other Conveyed Property” means all property conveyed by the
Seller to the Purchaser pursuant to Sections 3(b) through (h) of the related Subsequent Purchase Agreement other than the Subsequent Receivables. 
 “Subsequent Purchase Agreement” means an agreement by and between the Seller and the Purchaser pursuant to which the Purchaser will acquire Subsequent Receivables, substantially in the form of Exhibit
A hereunder. 
  

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 “Subsequent Receivables” means Receivables transferred to the Purchaser pursuant to
Section 2.2 and the related Subsequent Purchase Agreement, which shall be listed on Schedule A to the related Subsequent Purchase Agreement. 
 “Subsequent Transfer Agreement” means an agreement among the Issuer, the Seller and the Servicer, substantially in the form of Exhibit A to the Sale and Servicing Agreement. 
 “Subsequent Transfer Date” means, with respect to Subsequent Receivables, any date, occurring not more frequently than once a month,
during the Funding Period on which Subsequent Receivables are to be transferred to the Purchaser pursuant to this Agreement, and a Subsequent Purchase Agreement is executed and delivered. 
 “Trust Collateral Agent” means Wells Fargo Bank, National Association, as trust collateral agent and any successor trust collateral
agent appointed and acting pursuant to the Indenture. 
 “Trustee” means Wells Fargo Bank, National Association, as trustee
and any successor trustee appointed and acting pursuant to the Indenture. 
 SECTION 1.3 Usage of Terms. With respect to all terms
used in this Agreement, the singular includes the plural and the plural the singular; words importing any gender include the other gender; references to “writing” include printing, typing, lithography, and other means of reproducing words
in a visible form; references to agreements and other contractual instruments include all subsequent amendments thereto or changes therein entered into in accordance with their respective terms and not prohibited by this Agreement or the Sale and
Servicing Agreement; references to Persons include their permitted successors and assigns; and the terms “include” or “including” mean “include without limitation” or “including without limitation.”

 SECTION 1.4 [Reserved]. 
 SECTION 1.5 No Recourse. Without limiting the obligations of Seller hereunder, no recourse may be taken, directly or indirectly, under this Agreement or any certificate or other writing delivered in connection herewith or therewith,
against any stockholder, officer or director, as such, of Seller, or of any predecessor or successor of Seller. 
 SECTION 1.6 Action by
or Consent of Noteholders and Certificateholder. Whenever any provision of this Agreement refers to action to be taken, or consented to, by Noteholders or the Certificateholder, such provision shall be deemed to refer to the Certificateholder or
Noteholder, as the case may be, of record as of the Record Date immediately preceding the date on which such action is to be taken, or consent given, by Noteholders or the Certificateholder. Solely for the purposes of any action to be taken, or
consented to, by Noteholders or the Certificateholder, any Note or Certificate registered in the name of the Seller or any Affiliate thereof shall be deemed not to be outstanding; provided, however, that, solely for 

  

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the purpose of determining whether the Trustee or the Trust Collateral Agent is entitled to rely upon any such action or consent, only Notes or Certificates
which the Owner Trustee, the Trustee or the Trust Collateral Agent, respectively, knows to be so owned shall be so disregarded. 
 ARTICLE
II. 
 CONVEYANCE OF THE RECEIVABLES AND THE OTHER CONVEYED PROPERTY 
 SECTION 2.1 Conveyance of the Initial Receivables and the Initial Other Conveyed Property. 
 (a) Subject to the terms and conditions of this Agreement, Seller hereby sells, transfers, assigns, and otherwise conveys to Purchaser
without recourse (but without limitation of its obligations in this Agreement), and Purchaser hereby purchases, all right, title and interest of Seller in and to the following described property: 
 (1) the Initial Receivables and all moneys received thereon after the Initial Cutoff Date; 
 (2) the security interests in the Financed Vehicles granted by Obligors pursuant to the Initial Receivables and any other interest of
the Seller in such Financed Vehicles; 
 (3) any proceeds and the right to receive proceeds with respect to the Initial
Receivables from claims on any physical damage, credit life or disability insurance policies covering Financed Vehicles or Obligors and any proceeds from the liquidation of the Initial Receivables; 
 (4) any proceeds from any Initial Receivable repurchased by a Dealer pursuant to a Dealer Agreement or a Third-Party Lender pursuant
to an Auto Loan Purchase and Sale Agreement as a result of a breach of representation or warranty in the related Dealer Agreement or Auto Loan Purchase and Sale Agreement; 
 (5) all rights under any Service Contracts on the related Financed Vehicles; 
 (6) the related Receivable Files; 
 (7) all of the Seller’s (i) Accounts, (ii) Chattel Paper, (iii) Documents, (iv) Instruments and (v) General Intangibles (as such terms are defined in the UCC) relating to the
property described in (1) through (6); and 
 (8) all proceeds and investments with respect to items
(1) through (7). 
 It is the intention of Seller and Purchaser that the transfer and assignment contemplated by this Agreement shall
constitute a sale of the Initial Receivables and the Initial Other 

  

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Conveyed Property from Seller to Purchaser, conveying good title thereto free and clear of any liens, and the beneficial interest in and title to the Initial
Receivables and the Initial Other Conveyed Property shall not be part of Seller’s estate in the event of the filing of a bankruptcy petition by or against Seller under any bankruptcy or similar law. 
 (b) Simultaneously with the conveyance of the Initial Receivables and the Initial Other Conveyed Property to Purchaser, Purchaser has paid
or caused to be paid to or upon the order of Seller an amount equal to the book value of the Initial Receivables sold by Seller, as set forth on the books and records of Seller, by wire transfer of immediately available funds and the remainder as a
contribution to the capital of the Purchaser (a wholly-owned subsidiary of Seller). 
 SECTION 2.2 Conveyance of the Subsequent
Receivables and the Subsequent Other Conveyed Property. 
 (a) On each Subsequent Transfer Date and simultaneously with
the execution and delivery of the related Subsequent Purchase Agreement, the Seller shall sell, transfer, assign, and otherwise convey to Purchaser without recourse (but without limitation of its obligations in this Agreement), and Purchaser shall
purchase, all right, title and interest of Seller in and to the Subsequent Receivables and the Subsequent Other Conveyed Property. It is the intention of Seller and Purchaser that the transfer and assignment contemplated by such Subsequent Purchase
Agreement shall constitute a sale of the Subsequent Receivables and the Subsequent Other Conveyed Property from Seller to Purchaser, conveying good title thereto free and clear of any liens, and the beneficial interest in and title to the Subsequent
Receivables and the Subsequent Other Conveyed Property shall not be part of Seller’s estate in the event of the filing of a bankruptcy petition by or against Seller under any bankruptcy or similar law. 
 (b) Simultaneously with the conveyance of the Subsequent Receivables and the Subsequent Other Conveyed Property to Purchaser, Purchaser
shall pay or cause to be paid to or upon the order of Seller the amount set forth in the related Subsequent Purchase Agreement. 
 ARTICLE
III. 
 REPRESENTATIONS AND WARRANTIES 
 SECTION 3.1 Representations and Warranties of Seller. Seller makes the following representations and warranties as of the date hereof and as of the Subsequent Transfer Date, as the case may be, on which
Purchaser relies in purchasing the Receivables and the Other Conveyed Property and in transferring the Receivables and the Other Conveyed Property to the Issuer under the Sale and Servicing Agreement and any Subsequent Transfer Agreement Such
representations are made as of the execution and delivery of this Agreement and as of the execution and delivery of any Subsequent Purchase Agreement, but shall survive the sale, transfer and assignment of the Receivables and the Other Conveyed
Property hereunder and under any Subsequent Purchase Agreement, and the sale, transfer and assignment thereof by Purchaser to the Issuer under the Sale and Servicing Agreement and any Subsequent Transfer 

  

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Agreement. Seller and Purchaser agree that Purchaser will assign to Issuer all Purchaser’s rights under this Agreement and under any Subsequent Purchase
Agreement and that the Trustee will thereafter be entitled to enforce this Agreement and any Subsequent Purchase Agreement against Seller in the Trustee’s own name on behalf of the Noteholders. 
 (a) Schedule of Representations. The representations and warranties set forth on the Schedule of Representations with respect to
the Initial Receivables as of the date hereof, and with respect to the Subsequent Receivables as of the related Subsequent Transfer Date, are true and correct. 
 (b) Organization and Good Standing. Seller has been duly organized and is validly existing as a corporation in good standing under
the laws of the State of Delaware, with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is currently conducted, and had at all relevant times, and now has, power,
authority and legal right to acquire, own and sell the Receivables and the Other Conveyed Property to be transferred to Purchaser. 
 (c) Due Qualification. Seller is duly qualified to do business as a foreign corporation, is in good standing, and has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of its property
or the conduct of its business requires such qualification. 
 (d) Power and Authority. Seller has the power and
authority to execute and deliver this Agreement and its Related Documents and to carry out its terms and their terms, respectively; Seller has full power and authority to sell and assign the Receivables and the Other Conveyed Property to be sold and
assigned to and deposited with Purchaser hereunder and has duly authorized such sale and assignment to Purchaser by all necessary corporate action; and the execution, delivery and performance of this Agreement and Seller’s Related Documents
have been duly authorized by Seller by all necessary corporate action. 
 (e) Valid Sale; Binding Obligations. This
Agreement and Seller’s Related Documents have been duly executed and delivered, shall effect a valid sale, transfer and assignment of the Receivables and the Other Conveyed Property to the Purchaser, enforceable against Seller and creditors of
and purchasers from Seller; and this Agreement and Seller’s Related Documents constitute legal, valid and binding obligations of Seller enforceable in accordance with their respective terms, except as enforceability may be limited by
bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights generally and by equitable limitations on the availability of specific remedies, regardless of whether such enforceability is considered
in a proceeding in equity or at law. 
 (f) No Violation. The consummation of the transactions contemplated by this
Agreement and the Related Documents, and the fulfillment of the terms of this Agreement and the Related Documents, shall not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice, lapse of
time or both) a default under, the articles of incorporation or bylaws of Seller, or any indenture, 

  

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agreement, mortgage, deed of trust or other instrument to which Seller is a party or by which it is bound, or result in the creation or imposition of any
Lien upon any of its properties pursuant to the terms of any such indenture, agreement, mortgage, deed of trust or other instrument, other than this Agreement, the Sale and Servicing Agreement and the Indenture, or violate any law, order, rule or
regulation applicable to Seller of any court or of any federal or state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over Seller or any of its properties. 
 (g) No Proceedings. There are no proceedings or investigations pending or, to Seller’s knowledge, threatened against Seller,
before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over Seller or its properties (i) asserting the invalidity of this Agreement or any of the Related Documents,
(ii) seeking to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the Related Documents, (iii) seeking any determination or ruling that might materially and adversely
affect the performance by Seller of its obligations under, or the validity or enforceability of, this Agreement or any of the Related Documents or (iv) seeking to affect adversely the federal income tax or other federal, state or local tax
attributes of, or seeking to impose any excise, franchise, transfer or similar tax upon, the transfer and acquisition of the Receivables and the Other Conveyed Property hereunder or under the Sale and Servicing Agreement. 
 (h) True Sale. The Receivables are being transferred with the intention of removing them from Seller’s estate pursuant to
Section 541 of the Bankruptcy Code, as the same may be amended from time to time. 
 (i) Chief Executive Office.
The chief executive office of Seller is located at 801 Cherry Street, Suite 3900, Fort Worth, Texas 76102. 
 SECTION 3.2 Representations
and Warranties of Purchaser. Purchaser makes the following representations and warranties, on which Seller relies in selling, assigning, transferring and conveying the Receivables and the Other Conveyed Property to Purchaser hereunder and under
any Subsequent Purchase Agreement. Such representations are made as of the execution and delivery of this Agreement and under any Subsequent Purchase Agreement, but shall survive the sale, transfer and assignment of the Receivables and the Other
Conveyed Property hereunder and under any Subsequent Purchase Agreement and the sale, transfer and assignment thereof by Purchaser to the Issuer under the Sale and Servicing Agreement. 
 (a) Organization and Good Standing. Purchaser has been duly organized and is validly existing and in good standing as a corporation
under the laws of the State of Nevada, with the power and authority to own its properties and to conduct its business as such properties are currently owned and such business is currently conducted, and had at all relevant times, and has, full
power, authority and legal right to acquire and own the Receivables and the Other Conveyed Property, and to transfer the Receivables and the Other Conveyed Property to the Issuer pursuant to the Sale and Servicing Agreement. 
  

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 (b) Due Qualification. Purchaser is duly qualified to do business as a foreign
corporation, is in good standing, and has obtained all necessary licenses and approvals in all jurisdictions where the failure to do so would materially and adversely affect Purchaser’s ability to acquire the Receivables or the Other Conveyed
Property, and to transfer the Receivables and the Other Conveyed Property to the Issuer pursuant to the Sale and Servicing Agreement, or the validity or enforceability of the Receivables and the Other Conveyed Property or to perform Purchaser’s
obligations hereunder and under the Purchaser’s Related Documents. 
 (c) Power and Authority. Purchaser has the
power, authority and legal right to execute and deliver this Agreement and to carry out the terms hereof and to acquire the Receivables and the Other Conveyed Property hereunder; and the execution, delivery and performance of this Agreement and all
of the documents required pursuant hereto have been duly authorized by Purchaser by all necessary corporate action. 
 (d)
No Consent Required. Purchaser is not required to obtain the consent of any other Person, or any consent, license, approval or authorization or registration or declaration with, any governmental authority, bureau or agency in connection with
the execution, delivery or performance of this Agreement and the Related Documents, except for such as have been obtained, effected or made. 
 (e) Binding Obligation. This Agreement constitutes a legal, valid and binding obligation of Purchaser, enforceable against Purchaser in accordance with its terms, subject, as to enforceability, to applicable
bankruptcy, insolvency, reorganization, conservatorship, receivership, liquidation and other similar laws and to general equitable principles. 
 (f) No Violation. The execution, delivery and performance by Purchaser of this Agreement, the consummation of the transactions contemplated by this Agreement and the Related Documents and the fulfillment of the
terms of this Agreement and the Related Documents do not and will not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under, the certificate of
incorporation or bylaws of Purchaser, or conflict with or breach any of the terms or provisions of, or constitute (with or without notice or lapse of time) a default under, any indenture, agreement, mortgage, deed of trust or other instrument to
which Purchaser is a party or by which Purchaser is bound or to which any of its properties are subject, or result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement, mortgage,
deed of trust or other instrument (other than the Sale and Servicing Agreement), or violate any law, order, rule or regulation, applicable to Purchaser or its properties, of any federal or state regulatory body, any court, administrative agency, or
other governmental instrumentality having jurisdiction over Purchaser or any of its properties. 
 (g) No Proceedings.
There are no proceedings or investigations pending, or, to the knowledge of Purchaser, threatened against Purchaser, before any court, regulatory body, administrative agency, or other tribunal or governmental instrumentality having jurisdiction over
Purchaser or its properties: (i) asserting the invalidity of this Agreement 

  

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or any of the Related Documents, (ii) seeking to prevent the consummation of any of the transactions contemplated by this Agreement or any of the
Related Documents, (iii) seeking any determination or ruling that might materially and adversely affect the performance by Purchaser of its obligations under, or the validity or enforceability of, this Agreement or any of the Related Documents
or (iv) that may adversely affect the federal or state income tax attributes of, or seeking to impose any excise, franchise, transfer or similar tax upon, the transfer and acquisition of the Receivables and the Other Conveyed Property hereunder
or the transfer of the Receivables and the Other Conveyed Property to the Issuer pursuant to the Sale and Servicing Agreement. 
 In the
event of any breach of a representation and warranty made by Purchaser hereunder, Seller covenants and agrees that it will not take any action to pursue any remedy that it may have hereunder, in law, in equity or otherwise, until a year and a day
have passed since the date on which all Notes, Certificates, pass-through certificates or other similar securities issued by Purchaser, or a trust or similar vehicle formed by Purchaser, have been paid in full. Seller and Purchaser agree that
damages will not be an adequate remedy for such breach and that this covenant may be specifically enforced by Purchaser, Issuer or by the Trustee on behalf of the Noteholders and Owner Trustee on behalf of the Certificateholder. 
 ARTICLE IV. 
 COVENANTS OF SELLER

 SECTION 4.1 Protection of Title of Purchaser. 
 (a) At or prior to the Closing Date, Seller shall have filed or caused to be filed a UCC-1 financing statement, naming Seller as seller or
debtor, naming Purchaser as purchaser or secured party and describing the Initial Receivables and the Initial Other Conveyed Property being sold by it to Purchaser as collateral, with the office of the Secretary of State of the State of Delaware and
in such other locations as Purchaser shall have required. At or prior to any Subsequent Transfer Date, Seller shall file or cause to be filed a UCC-1 financing statement naming Seller as seller or debtor, naming the Purchaser as purchaser or secured
party and describing the Subsequent Receivables and the Subsequent Other Conveyed Property being sold by it to the Purchaser as collateral, with the office of the Secretary of State of the State of Delaware and in such other locations as Purchaser
shall require. From time to time thereafter, Seller shall execute and file such financing statements and cause to be executed and filed such continuation statements, all in such manner and in such places as may be required by law fully to preserve,
maintain and protect the interest of Purchaser under this Agreement, of the Issuer under the Sale and Servicing Agreement and of the Trust Collateral Agent under the Indenture in the Receivables and the Other Conveyed Property and in the proceeds
thereof. Seller shall deliver (or cause to be delivered) to Purchaser and the Trust Collateral Agent file-stamped copies of, or filing receipts for, any document filed as provided above, as soon as available following such filing. In the event that
Seller fails to perform its obligations under this subsection, Purchaser, Issuer or the Trust Collateral Agent may do so, at the expense of such Seller. In furtherance of the foregoing, the Seller hereby authorizes the Purchaser, the Issuer or the
Trust Collateral Agent to file a 

  

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record or records (as defined in the applicable UCC), including, without limitation, financing statements, in all jurisdictions and with all filing offices
as each may determine, in its sole discretion, are necessary or advisable to perfect the security interest granted to the Purchaser pursuant to Section 6.9 of this Agreement. Such financing statements may describe the collateral in the same
manner as described herein or may contain an indication or description of collateral that describes such property in any other manner as such party may determine, in its sole discretion, is necessary, advisable or prudent to ensure the perfection of
the security interest in the collateral granted to the Purchaser herein. 
 (b) Seller shall not change its name, identity,
state of incorporation or corporate structure in any manner that would, could or might make any financing statement or continuation statement filed by Seller (or by Purchaser, Issuer or the Trust Collateral Agent on behalf of Seller) in accordance
with paragraph (a) above seriously misleading within the meaning of §9-506 of the applicable UCC, unless they shall have given Purchaser, Issuer and the Trust Collateral Agent at least 60 days’ prior written notice thereof, and shall
promptly file appropriate amendments to all previously filed financing statements and continuation statements. 
 (c) Seller
shall give Purchaser, the Issuer and the Trust Collateral Agent at least 60 days’ prior written notice of any relocation that would result in a change of the location of the debtor within the meaning of Section 9-307 of the applicable UCC.
Seller shall at all times maintain (i) each office from which it services Receivables within the United States of America or Canada and (ii) its principal executive office within the United States of America. 
 (d) Prior to the Closing Date and with respect to Subsequent Receivables, the Subsequent Transfer Date, Seller has maintained accounts and
records as to each Receivable accurately and in sufficient detail to permit (i) the reader thereof to know at any time as of or prior to the Closing Date and with respect to Subsequent Receivables, the Subsequent Transfer Date, the status of
such Receivable, including payments and recoveries made and payments owing (and the nature of each) and (ii) reconciliation between payments or recoveries on (or with respect to) each Receivable and the Principal Balance with respect to the
Initial Receivables as of the Initial Cutoff Date and with respect to Subsequent Receivables, the Subsequent Cutoff Date. Seller shall maintain its computer systems so that, from and after the time of sale under this Agreement of the Receivables to
Purchaser, and the conveyance of the Receivables by Purchaser to the Issuer, Seller’s master computer records (including archives) that shall refer to a Receivable indicate clearly that such Receivable has been sold to Purchaser and has been
conveyed by Purchaser to the Issuer. Indication of the Issuer’s ownership of a Receivable shall be deleted from or modified on Seller’s computer systems when, and only when, the Receivable shall become a Purchased Receivable or a Sold
Receivable or shall have been paid in full or sold pursuant to the terms of the Sale and Servicing Agreement. 
 (e) If at any
time Seller shall propose to sell, grant a security interest in, or otherwise transfer any interest in any motor vehicle receivables to any prospective purchaser, lender or other transferee, Seller shall give to such prospective purchaser, 

  

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lender, or other transferee computer tapes, records, or print-outs (including any restored from archives) that, if they shall refer in any manner whatsoever
to any Receivable (other than a Purchased Receivable or a Sold Receivable), shall indicate clearly that such Receivable has been sold to Purchaser, sold by Purchaser to Issuer, and is owned by the Issuer. 
 SECTION 4.2 Other Liens or Interests. Except for the conveyances hereunder, Seller will not sell, pledge, assign or transfer to any other Person,
or grant, create, incur, assume or suffer to exist any Lien on the Receivables or the Other Conveyed Property or any interest therein, and Seller shall defend the right, title, and interest of Purchaser and the Issuer in and to the Receivables and
the Other Conveyed Property against all claims of third parties claiming through or under Seller. 
 SECTION 4.3 Costs and Expenses.
Seller shall pay all reasonable costs and disbursements in connection with the performance of its obligations hereunder and under its Related Documents. 
 SECTION 4.4 Indemnification. 
 (a) Seller shall defend, indemnify and hold harmless
Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against any and all costs, expenses, losses, damages, claims, and liabilities, arising out of
or resulting from any breach of any of Seller’s representations and warranties contained herein. 
 (b) Seller shall
defend, indemnify and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against any and all costs, expenses, losses, damages,
claims, and liabilities, arising out of or resulting from the use, ownership or operation by Seller or any affiliate thereof of a Financed Vehicle. 
 (c) Seller shall defend, indemnify and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against
any and all costs, expenses, losses, damages, claims and liabilities arising out of or resulting from any action taken, or failed to be taken, by it in respect of any portion of the Receivables other than in accordance with this Agreement or the
Sale and Servicing Agreement. 
 (d) Seller agrees to pay, and shall defend, indemnify and hold harmless Purchaser, the
Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against any taxes that may at any time be asserted against Purchaser, the Issuer, the Trust Collateral Agent,
the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder with respect to the transactions contemplated in this Agreement, including, without limitation, any sales, gross receipts, general corporation, tangible
or intangible personal property, privilege, or license taxes (but not including any taxes asserted with respect to, and as of the date of, the sale, transfer and assignment of the Receivables and the Other Conveyed 

  

 11 

 
Property to Purchaser and by Purchaser to the Issuer or the issuance and original sale of the Notes or issuance of the Certificate, or asserted with respect
to ownership of the Receivables and Other Conveyed Property which shall be indemnified by Seller pursuant to clause (e) below, or federal, state or other income taxes, arising out of distributions on the Notes or the Certificate or transfer
taxes arising in connection with the transfer of the Notes or the Certificate) and costs and expenses in defending against the same, arising by reason of the acts to be performed by Seller under this Agreement or imposed against such Persons.

 (e) Seller agrees to pay, and to indemnify, defend and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the
Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from, any taxes which may at any time be asserted against such Persons with respect to, and as of the date of, the conveyance or ownership of the Receivables
or the Other Conveyed Property hereunder and under any Subsequent Purchase Agreement and the conveyance or ownership of the Receivables under the Sale and Servicing Agreement and under any Subsequent Transfer Agreement or the issuance and original
sale of the Notes or the issuance of the Certificate, including, without limitation, any sales, gross receipts, personal property, tangible or intangible personal property, privilege or license taxes (but not including any federal or other income
taxes, including franchise taxes, arising out of the transactions contemplated hereby or transfer taxes arising in connection with the transfer of the Notes or the Certificate) and costs and expenses in defending against the same, arising by reason
of the acts to be performed by Seller under this Agreement or imposed against such Persons. 
 (f) Seller shall defend,
indemnify, and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against any and all costs, expenses, losses, claims, damages, and
liabilities to the extent that such cost, expense, loss, claim, damage, or liability arose out of, or was imposed upon Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders or the
Certificateholder through the negligence, willful misfeasance, or bad faith of Seller in the performance of its duties under this Agreement or by reason of reckless disregard of Seller’s obligations and duties under this Agreement. 

(g) Seller shall indemnify, defend and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup
Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against any loss, liability or expense incurred by reason of the violation by Seller of federal or state securities laws in connection with the registration or the sale
of the Notes. 
 (h) Seller shall indemnify, defend and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the
Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against any loss, liability or expense imposed upon, or incurred by, Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup
Servicer, the Owner Trustee, the Noteholders or the Certificateholder as result of the failure of any Receivable, or the sale of the related Financed Vehicle, to comply with all requirements of applicable law. 
  

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 (i) Seller shall defend, indemnify, and hold harmless Purchaser from and against all
costs, expenses, losses, claims, damages, and liabilities arising out of or incurred in connection with the acceptance or performance of Seller’s trusts and duties as Servicer under the Sale and Servicing Agreement, except to the extent that
such cost, expense, loss, claim, damage, or liability shall be due to the willful misfeasance, bad faith, or negligence (except for errors in judgment) of Purchaser. 
 (j) Seller shall indemnify the Owner Trustee and its officers, directors, successors, assigns, agents and servants jointly and severally
with the Purchaser pursuant to Section 7.2 of the Trust Agreement. 
 Indemnification under this Section 4.4 shall include
reasonable fees and expenses of counsel and expenses of litigation and shall survive payment of the Notes and the Certificate. The indemnity obligations hereunder shall be in addition to any obligation that Seller may otherwise have. 
 ARTICLE V. 
 REPURCHASES

 SECTION 5.1 Repurchase of Receivables Upon Breach of Warranty. Upon the occurrence of a Repurchase Event, Seller shall, unless
the breach which is the subject of such Repurchase Event shall have been cured in all material respects, repurchase the Receivable relating thereto from the Issuer and, simultaneously with the repurchase of the Receivable, Seller shall deposit the
Purchase Amount in full, without deduction or offset, to the Collection Account, pursuant to Section 3.2 of the Sale and Servicing Agreement. It is understood and agreed that, except as set forth in Section 6.1 hereof, the obligation of
Seller to repurchase any Receivable, as to which a breach occurred and is continuing, shall, if such obligation is fulfilled, constitute the sole remedy against Seller for such breach available to Purchaser, the Issuer, the Backup Servicer, the
Noteholders, the Certificateholder, the Trust Collateral Agent on behalf of the Noteholders or the Owner Trustee on behalf of the Certificateholder. The provisions of this Section 5.1 are intended to grant the Issuer and the Trust Collateral
Agent a direct right against Seller to demand performance hereunder, and in connection therewith, Seller waives any requirement of prior demand against Purchaser with respect to such repurchase obligation. Any such repurchase shall take place in the
manner specified in Section 3.2 of the Sale and Servicing Agreement. Notwithstanding any other provision of this Agreement or the Sale and Servicing Agreement to the contrary, the obligation of Seller under this Section shall not terminate upon
a termination of Seller as Servicer under the Sale and Servicing Agreement and shall be performed in accordance with the terms hereof notwithstanding the failure of the Servicer or Purchaser to perform any of their respective obligations with
respect to such Receivable under the Sale and Servicing Agreement. 
 In addition to the foregoing and notwithstanding whether the related
Receivable shall have been purchased by Seller, Seller shall indemnify the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against all costs, expenses,
losses, damages, claims and liabilities, including reasonable fees and expenses of counsel, which may be asserted against or incurred by any of them as a result of third party claims arising out of the events or facts giving rise to such Repurchase
Events. 
  

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 SECTION 5.2 Reassignment of Purchased Receivables. Upon deposit in the Collection Account of the
Purchase Amount of any Receivable repurchased by Seller under Section 5.1 hereof, Purchaser and the Issuer shall take such steps as may be reasonably requested by Seller in order to assign to Seller all of Purchaser’s and the Issuer’s
right, title and interest in and to such Receivable and all security and documents and all Other Conveyed Property conveyed to Purchaser and the Issuer directly relating thereto, without recourse, representation or warranty, except as to the absence
of Liens created by or arising as a result of actions of Purchaser or the Issuer. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Receivable, in any enforcement suit or
legal proceeding, it is held that Seller may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, Purchaser and the Issuer shall, at the expense of Seller, take
such steps as Seller deems reasonably necessary to enforce the Receivable, including bringing suit in Purchaser’s or in the Issuer’s name. 
 SECTION 5.3 Waivers. No failure or delay on the part of Purchaser, or the Issuer as assignee of Purchaser, or the Trust Collateral Agent as assignee of the Issuer, in exercising any power, right or remedy under
this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or remedy preclude any other or future exercise thereof or the exercise of any other power, right or remedy. 
 ARTICLE VI. 
 MISCELLANEOUS

 SECTION 6.1 Liability of Seller. Seller shall be liable in accordance herewith only to the extent of the obligations in this
Agreement specifically undertaken by Seller and the representations and warranties of Seller. 
 SECTION 6.2 Merger or Consolidation of
Seller or Purchaser. Any corporation or other entity (i) into which Seller or Purchaser may be merged or consolidated, (ii) resulting from any merger or consolidation to which Seller or Purchaser is a party or (iii) succeeding to
the business of Seller or Purchaser, in the case of Purchaser, which corporation has a certificate of incorporation containing provisions relating to limitations on business and other matters substantively identical to those contained in
Purchaser’s certificate of incorporation, provided that in any of the foregoing cases such corporation shall execute an agreement of assumption to perform every obligation of Seller or Purchaser, as the case may be, under this Agreement and,
whether or not such assumption agreement is executed, shall be the successor to Seller or Purchaser, as the case may be, hereunder (without relieving Seller or Purchaser of their responsibilities hereunder, if it survives such merger or
consolidation) without the execution or filing of any document or any further action by any of the parties to this Agreement. Seller or Purchaser shall promptly inform the other party, the Issuer, the Trust Collateral Agent and the Owner Trustee
and, as a condition to the consummation of the transactions referred to in clauses (i), (ii) and (iii) above, (x) immediately after giving effect to such transaction, no representation or warranty made pursuant to Sections 3.1 and 3.2
of this Agreement shall have been breached (for purposes hereof, such representations and warranties shall speak as of the date of the 

  

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consummation of such transaction) and be continuing, (y) Seller or Purchaser, as applicable, shall have delivered written notice of such consolidation,
merger or purchase and assumption to the Rating Agencies prior to the consummation of such transaction and shall have delivered to the Issuer and the Trust Collateral Agent an Officer’s Certificate of the Seller or a certificate signed by or on
behalf of the Purchaser, as applicable, and an Opinion of Counsel each stating that such consolidation, merger or succession and such agreement of assumption comply with this Section 6.2 and that all conditions precedent, if any, provided for
in this Agreement relating to such transaction have been complied with, and (z) Seller or Purchaser, as applicable, shall have delivered to the Issuer and the Trust Collateral Agent an Opinion of Counsel, stating, in the opinion of such
counsel, either (A) 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 the Trust Collateral Agent in the Receivables
and reciting the details of the filings or (B) no such action shall be necessary to preserve and protect such interest. 
 SECTION 6.3
Limitation on Liability of Seller and Others. Seller and any director, officer, employee or agent thereof may rely in good faith on the advice of counsel or on any document of any kind prima facie properly executed and submitted by any Person
respecting any matters arising under this Agreement. Seller shall not be under any obligation to appear in, prosecute or defend any legal action that is not incidental to its obligations under this Agreement or its Related Documents and that in its
opinion may involve it in any expense or liability. 
 SECTION 6.4 Seller May Own Notes or the Certificate. Subject to the provisions
of the Sale and Servicing Agreement, Seller and any Affiliate of Seller may in their individual or any other capacity become the owner or pledgee of Notes or the Certificate with the same rights as they would have if they were not Seller or an
Affiliate thereof. 
 SECTION 6.5 Amendment. 
 (a) This Agreement may be amended by Seller and Purchaser without the consent of the Trust Collateral Agent, the Owner Trustee, the
Certificateholder or any of the Noteholders (i) to cure any ambiguity or (ii) to correct any provisions in this Agreement; provided, however, that such action shall not, as evidenced by an Opinion of Counsel delivered to the Issuer, the
Owner Trustee and the Trust Collateral Agent, adversely affect in any material respect the interests of any Certificateholder or Noteholder. 
 (b) This Agreement may also be amended from time to time by Seller and Purchaser, and with the consent of the Trust Collateral Agent and, if required, the Certificateholder and the Noteholders, in accordance with the
Sale and Servicing Agreement, 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 Certificateholder or Noteholders;
provided, however, the Seller provides the Trust Collateral Agent with an Opinion of Counsel, (which may be provided by the Seller’s internal counsel) that no such amendment shall increase or reduce in any manner the amount of, or
accelerate or delay the timing of, collections of payments on Receivables or distributions that shall be required to be made on any Note or Certificate. 
  

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 (c) Prior to the execution of any such amendment or consent, Seller shall have furnished
written notification of the substance of such amendment or consent to each Rating Agency. 
 (d) It shall not be necessary for
the consent of Certificateholder or Noteholders pursuant to this Section to approve the particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining
such consents and of evidencing the authorization of the execution thereof by Certificateholder or Noteholders shall be subject to such reasonable requirements as the Trust Collateral Agent may prescribe, including the establishment of record dates.
The consent of a Holder of a Certificate or a Note given pursuant to this Section or pursuant to any other provision of this Agreement shall be conclusive and binding on such Holder and on all future Holders of such Certificate or Note and of any
Certificate or Note issued upon the transfer thereof or in exchange thereof or in lieu thereof whether or not notation of such consent is made upon the Certificate or Note. 
 SECTION 6.6 Notices. All demands, notices and communications to Seller or Purchaser hereunder shall be in writing, personally delivered, or sent
by telecopier (subsequently confirmed in writing), reputable overnight courier or mailed by certified mail, return receipt requested, and shall be deemed to have been given upon receipt (a) in the case of Seller, to AmeriCredit Financial
Services, Inc., 801 Cherry Street, Suite 3900, Fort Worth, Texas 76102, Attention: Chief Financial Officer, or (b) in the case of Purchaser, to AFS SenSub Corp., 2265 B Renaissance Drive, Suite 17, Las Vegas, Nevada 89119, Attention: Chief
Financial Officer, or such other address as shall be designated by a party in a written notice delivered to the other party or to the Issuer, Owner Trustee or the Trust Collateral Agent, as applicable. 
 SECTION 6.7 Merger and Integration. Except as specifically stated otherwise herein, this Agreement and Related Documents set forth the entire
understanding of the parties relating to the subject matter hereof, and all prior understandings, written or oral, are superseded by this Agreement and the Related Documents. This Agreement may not be modified, amended, waived or supplemented except
as provided herein. 
 SECTION 6.8 Severability of Provisions. If any one or more of the covenants, provisions or terms of this Agreement
shall be for any reason whatsoever held invalid, then such covenants, provisions or terms shall be deemed severable from the remaining covenants, provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the
other provisions of this Agreement. 
 SECTION 6.9 Intention of the Parties. 
 The execution and delivery of this Agreement shall constitute an acknowledgment by Seller and Purchaser that they intend that the assignment and transfer
herein contemplated constitute a sale and assignment outright, and not for security, of the Receivables and the Other Conveyed Property, conveying good title thereto free and clear of any Liens, from Seller to Purchaser, and that the Receivables and
the Other Conveyed Property shall not be a part of Seller’s estate in the event of the bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other proceeding under any federal or state bankruptcy or similar law,

  

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or the occurrence of another similar event, of, or with respect to Seller. In the event that such conveyance is determined to be made as security for a loan
made by Purchaser, the Issuer, the Noteholders or the Certificateholder to Seller, the Seller hereby grants to Purchaser a security interest in all of Seller’s right, title and interest in and to the following property, whether now owned or
existing or hereafter acquired or arising, and this Agreement shall constitute a security agreement under applicable law (collectively, the “Purchase Agreement Collateral”): 
 (1) the Initial Receivables and all moneys received thereon after the Initial Cutoff Date and the Subsequent Receivables and all moneys
received after the applicable Subsequent Cutoff Date; 
 (2) the security interests in the Financed Vehicles granted by
Obligors pursuant to the Receivables and any other interest of the Seller in such Financed Vehicles; 
 (3) any proceeds and
the right to receive proceeds with respect to the Receivables from claims on any physical damage, credit life or disability insurance policies covering Financed Vehicles or Obligors and any proceeds from the liquidation of the Receivables;

 (4) any proceeds from any Receivable repurchased by a Dealer pursuant to a Dealer Agreement or a Third-Party Lender
pursuant to an Auto Loan Purchase and Sale Agreement as a result of a breach of representation or warranty in the related Dealer Agreement or Auto Loan Purchase and Sale Agreement; 
 (5) all rights under any Service Contracts on the related Financed Vehicles; 
 (6) the related Receivable Files; 
 (7) all of the Seller’s (i) Accounts, (ii) Chattel Paper, (iii) Documents, (iv) Instruments and (v) General Intangibles (as such terms are defined in the UCC) relating to the property
described in (1) through (6); and 
 (8) all proceeds and investments with respect to items (1) through (7).

  

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 SECTION 6.10 Governing Law. This Agreement shall be construed in accordance with, and this
Agreement and all matters arising out of or relating in any way to this Agreement shall be governed by, the law of the State of New York, without giving effect to its conflict of law provisions (other than Sections 5-1401 and 5-1402 of the New York
General Obligations Law). 
 SECTION 6.11 Counterparts. For the purpose of facilitating the execution of this Agreement and for other
purposes, this Agreement may be executed simultaneously in any number of counterparts, each of which counterparts shall be deemed to be an original, and all of which counterparts shall constitute but one and the same instrument. 
 SECTION 6.12 Conveyance of the Receivables and the Other Conveyed Property to the Issuer. Seller acknowledges that Purchaser intends, pursuant to
the Sale and Servicing Agreement, to convey the Receivables and the Other Conveyed Property, together with its rights under this Agreement, to the Issuer on the Closing Date and on the Subsequent Transfer Date in the case of Subsequent Receivables.
Seller acknowledges and consents to such conveyance and pledge and waives any further notice thereof and covenants and agrees that the representations and warranties of Seller contained in this Agreement and any Subsequent Purchase Agreement and the
rights of Purchaser hereunder are intended to benefit the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder. In furtherance of the foregoing, Seller covenants and agrees to perform its duties and
obligations hereunder, in accordance with the terms hereof for the benefit of the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder and that, notwithstanding anything to the contrary in this Agreement,
Seller shall be directly liable to the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder (notwithstanding any failure by the Servicer, the Backup Servicer or the Purchaser to perform its respective
duties and obligations hereunder or under Related Documents) and that the Trust Collateral Agent may enforce the duties and obligations of Seller under this Agreement against Seller for the benefit of the Owner Trustee, the Trust Collateral Agent,
the Noteholders and the Certificateholder. 
 SECTION 6.13 Nonpetition Covenant. Neither Purchaser nor Seller shall petition or
otherwise invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Purchaser or the Issuer under any federal or state bankruptcy, insolvency or similar law or appointing a receiver,
liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Purchaser or the Issuer or any substantial part of their respective property, or ordering the winding up or liquidation of the affairs of the Purchaser or the
Issuer. 
 [Remainder of page intentionally left blank] 
  

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

			
	AFS SENSUB CORP., as Purchaser
		
	By	 	 /s/ Sheli Fitzgerald

	Name:	 	Sheli Fitzgerald
	Title:	 	Vice President, Structured Finance
	
	 AMERICREDIT FINANCIAL SERVICES, INC.,
as Seller

		
	By	 	 /s/ Susan B. Sheffield

	Name:	 	Susan B. Sheffield
	Title:	 	Senior Vice President, Structured Finance

  

			
	Accepted:
	
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Trustee and Trust Collateral Agent

		
	By	 	 /s/ Marianna C. Stershic

	Name:	 	Marianna C. Stershic
	Title:	 	Vice President

 [Purchase Agreement] 
  

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 SCHEDULE A 
 SCHEDULE OF RECEIVABLES 
 [On File with AmeriCredit, the Trustee and Dewey Ballantine LLP] 

 SCHEDULE B 
 REPRESENTATIONS AND WARRANTIES OF 
 AMERICREDIT FINANCIAL SERVICES, INC. (“AMERICREDIT”)

 1. Characteristics of Receivables. Each Receivable (A) was originated (i) by the related Originator, (ii) by an
Originating Affiliate and was validly assigned by such Originating Affiliate to the related Originator, (iii) by a Dealer and purchased by the related Originator from such Dealer under an existing Dealer Agreement or pursuant to a Dealer
Assignment with the related Originator and was validly assigned by such Dealer to such Originator pursuant to a Dealer Assignment or (iv) by a Third-Party Lender and purchased by the related Originator from such Third-Party Lender under an
existing Auto Loan Purchase and Sale Agreement or pursuant to a Third-Party Lender Assignment with the related Originator and was validly assigned by such Third-Party Lender to the related Originator pursuant to a Third-Party Lender Assignment
(B) was originated by the related Originator, such Originating Affiliate, such Dealer or such Third-Party Lender for the retail sale of a Financed Vehicle in the ordinary course of the related Originator’s, such Originating
Affiliate’s, the Dealer’s or the Third-Party Lender’s business, in each case was originated in accordance with the related Originator’s credit policies and was fully and properly executed by the parties thereto, and the related
Originator, each Originating Affiliate, each Dealer and each Third-Party Lender had all necessary licenses and permits to originate Receivables in the state where each Originator, each such Originating Affiliate, each such Dealer or each such
Third-Party Lender was located, (C) contains customary and enforceable provisions such as to render the rights and remedies of the holder thereof adequate for realization against the collateral security, (D) is a Receivable which provides
for level monthly payments (provided that the period in the first Collection Period and the payment in the final Collection Period of the Receivable may be minimally different from the normal period and level payment) which, if made when due, shall
fully amortize the Amount Financed over the original term and (E) has not been amended or collections with respect to which waived, other than as evidenced in the Receivable File or the Servicer’s electronic records relating thereto.

 2. No Fraud or Misrepresentation. Each Receivable was originated (i) by the related Originator, (ii) by an Originating
Affiliate and was assigned by the Originating Affiliate to the related Originator, (iii) by a Dealer and was sold by the Dealer to the related Originator or (iv) by a Third-Party Lender and was sold by the Third-Party Lender to the related
Originator, and was sold by the Seller to AFS SenSub Corp. without any fraud or misrepresentation on the part of such Originating Affiliate, Dealer, Third-Party Lender or the related Originator in any case. 
 3. Compliance with Law. All requirements of applicable federal, state and local laws, and regulations thereunder (including, without limitation,
usury laws, the Federal Truth-in-Lending Act, the Equal Credit Opportunity Act, the Fair Credit Billing Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Federal Trade Commission Act, the Moss-Magnuson Warranty Act, the
Federal Reserve Board’s Regulations “B” and “Z” (including amendments to the Federal Reserve’s Official Staff Commentary to Regulation Z, effective October 1, 1998, concerning negative equity loans), the
Servicemembers Civil Relief Act, each applicable state Motor Vehicle Retail Installment Sales Act, and state adaptations of the National Consumer Act and of the Uniform Consumer Credit Code and other consumer credit laws and 

 
equal credit opportunity and disclosure laws) in respect of the Receivables and the Financed Vehicles, have been complied with in all material respects, and
each Receivable and the sale of the Financed Vehicle evidenced by each Receivable complied at the time it was originated or made and now complies in all material respects with all applicable legal requirements. 
 4. Origination. Each Receivable was originated in the United States. 
 5. Binding Obligation. Each Receivable represents the genuine, legal, valid and binding payment obligation of the Obligor thereon, enforceable by
the holder thereof in accordance with its terms, except (A) as enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting the enforcement of creditors’ rights generally and by equitable limitations on
the availability of specific remedies, regardless of whether such enforceability is considered in a proceeding in equity or at law and (B) as such Receivable may be modified by the application after the Initial Cutoff Date or the Subsequent
Cutoff Date, as applicable, of the Servicemembers Civil Relief Act, as amended; and all parties to each Receivable had full legal capacity to execute and deliver such Receivable and all other documents related thereto and to grant the security
interest purported to be granted thereby. 
 6. No Government Obligor. No Obligor is the United States of America or any State or any
agency, department, subdivision or instrumentality thereof. 
 7. Obligor Bankruptcy. At the Initial Cutoff Date or the Subsequent
Cutoff Date, as applicable, no Obligor had been identified on the records of the Seller as being the subject of a current bankruptcy proceeding. 
 8. Schedules of Receivables. The information set forth in the Schedules of Receivables has been produced from the Electronic Ledger and was true and correct in all material respects as of the close of business on the Initial Cutoff
Date or the Subsequent Cutoff Date, as applicable. 
 9. Marking Records. Each of the Seller and AFS SenSub Corp. has indicated in its
files that the Receivables have been sold to the Issuer pursuant to the Sale and Servicing Agreement and Granted to the Trust Collateral Agent pursuant to the Indenture. Further, the Seller has indicated in its computer files that the Receivables
are owned by the Trust. 
 10. Computer Tape. The Computer Tape made available by the Seller to AFS SenSub Corp. and to the Issuer on
the Closing Date was complete and accurate as of the Initial Cutoff Date or the Subsequent Cutoff Date, as applicable, and includes a description of the same Receivables that are described in the Schedule of Receivables. 
 11. Adverse Selection. No selection procedures adverse to the Noteholders were utilized in selecting the Receivables from those receivables owned
by the Seller which met the selection criteria contained in the Sale and Servicing Agreement. 
 12. Chattel Paper. The Receivables
constitute “tangible chattel paper” or “electronic chattel paper” within the meaning of the UCC as in effect in the States of Texas, New York, Nevada and Delaware. 
  

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 13. One Original. There is only one original executed copy (or with respect to “electronic
chattel paper”, one authoritative copy) of each Contract. With respect to Contracts that are “electronic chattel paper”, each authoritative copy (a) is unique, identifiable and unalterable (other than with the participation of
the Trust Collateral Agent in the case of an addition or amendment of an identified assignee and other than a revision that is readily identifiable as an authorized or unauthorized revision), (b) has been marked with a legend to the following
effect: “Authoritative Copy” and (c) has been communicated to and is maintained by or on behalf of the Custodian. 
 14.
Not an Authoritative Copy. With respect to Contracts that are “electronic chattel paper”, the Seller has marked all copies of each such Contract other than an authoritative copy with a legend to the following effect: “This is
not an authoritative copy.” 
 15. Revisions. With respect to Contracts that are “electronic chattel paper”, the
related Receivables have been established in a manner such that (a) all copies or revisions that add or change an identified assignee of the authoritative copy of each such Contract must be made with the participation of the Trust Collateral
Agent and (b) all revisions of the authoritative copy of each such Contract must be readily identifiable as an authorized or unauthorized revision. 
 16. Pledge or Assignment. With respect to Contracts that are “electronic chattel paper”, the authoritative copy of each Contract communicated to the Custodian has no marks or notations indicating that
it has been pledged, assigned or otherwise conveyed to any Person other than the Trust Collateral Agent. 
 17. Receivable Files
Complete. There exists a Receivable File pertaining to each Receivable and such Receivable File contains a fully executed original of the Contract and the original Lien Certificate or a copy of the application therefor. Related documentation
concerning the Receivable, including any documentation regarding modifications of the Contract, will be maintained electronically by the Servicer in accordance with customary policies and procedures. Each of such documents which is required to be
signed by the Obligor has been signed by the Obligor in the appropriate spaces. All blanks on any form have been properly filled in and each form has otherwise been correctly prepared. With respect to Receivables that are tangible chattel paper, the
complete Receivable File for each Receivable, including a fully executed original of the Contract, currently is in the possession of the Custodian. 
 18. Receivables in Force. No Receivable has been satisfied, subordinated or rescinded, and the Financed Vehicle securing each such Receivable has not been released from the lien of the related Receivable in whole or in part. No terms
of any Receivable have been waived, altered or modified in any respect since its origination, except by instruments or documents identified in the Receivable File or the Servicer’s electronic records. 
 19. Lawful Assignment. No Receivable was originated in, or is subject to the laws of, any jurisdiction the laws of which would make unlawful, void
or voidable the sale, transfer and assignment of such Receivable under this Agreement or pursuant to transfers of the Notes. 
  

 B-3 

 20. Good Title. Immediately prior to the conveyance of the Receivables to AFS SenSub Corp.
pursuant to this Agreement, or a Subsequent Purchase Agreement, as applicable, the Seller was the sole owner thereof and had good and indefeasible title thereto, free of any Lien and, upon execution and delivery of this Agreement by the Seller, AFS
SenSub Corp. shall have good and indefeasible title to and will be the sole owner of such Receivables, free of any Lien. No Dealer or Third-Party Lender has a participation in, or other right to receive, proceeds of any Receivable. The Seller has
not taken any action to convey any right to any Person that would result in such Person having a right to payments received under the related Insurance Policies or the related Dealer Agreements, Auto Loan Purchase and Sale Agreements, Dealer
Assignments, or Third-Party Lender Assignments or to payments due under such Receivables. 
 21. Security Interest in Financed
Vehicle. Each Receivable created or shall create a valid, binding and enforceable first priority security interest in favor of the related Originator (or an Originating Affiliate or a Titled Third-Party Lender which first priority security
interest has been assigned to the Seller) in the Financed Vehicle. The Lien Certificate for each Financed Vehicle shows, or if a new or replacement Lien Certificate is being applied for with respect to such Financed Vehicle the Lien Certificate will
be received within 180 days of the Closing Date or Subsequent Transfer Date, as applicable, and will show, the related Originator (or an Originating Affiliate or a Titled Third-Party Lender) named as the original secured party under each Receivable
as the holder of a first priority security interest in such Financed Vehicle. With respect to each Receivable for which the Lien Certificate has not yet been returned from the Registrar of Titles, the related Originator or the related Originating
Affiliate has applied for or received written evidence from the related Dealer or Third-Party Lender that such Lien Certificate showing the related Originator, an Originating Affiliate, the Issuer or a Titled Third-Party Lender, as applicable, as
first lienholder has been applied for and the Originating Affiliate’s or Titled Third-Party Lender’s security interest has been validly assigned by the Originating Affiliate or Titled Third-Party Lender, as applicable, to the related
Originator with respect to the loans originated by Bay View, validly assigned to the Seller and the Seller’s security interest has been validly assigned by the Seller to AFS SenSub Corp. pursuant to this Agreement. This Agreement creates a
valid and continuing security interest (as defined in the UCC) in the Receivables in favor of the Purchaser, which security interest is prior to all other Liens, and is enforceable as such against creditors of and purchasers from the Seller.
Immediately after the sale, transfer and assignment thereof by the Seller to AFS SenSub Corp., each Receivable will be secured by an enforceable and perfected first priority security interest in the Financed Vehicle in favor of AFS SenSub Corp. as
secured party, which security interest is prior to all other Liens upon and security interests in such Financed Vehicle which now exist or may hereafter arise or be created (except, as to priority, for any lien for taxes, labor or materials
affecting a Financed Vehicle). As of the Initial Cutoff Date or the Subsequent Cutoff Date, as applicable, there were no Liens or claims for taxes, work, labor or materials affecting a Financed Vehicle which are or may be Liens prior or equal to the
Liens of the related Receivable. 
 22. All Filings Made. All filings (including, without limitation, UCC filings (including, without
limitation, the filing by the Seller of all appropriate financing statements in the proper filing office in the State of Delaware under applicable law in order to perfect the security interest in the Receivables granted to the Purchaser hereunder))
required to be made by any Person and actions required to be taken or performed by any Person in any jurisdiction to give the Issuer and the Trust Collateral Agent a first priority perfected lien on, or ownership interest in, the Receivables and the
proceeds thereof and the Other Conveyed Property have been made, taken or performed. 
  

 B-4 

 23. No Impairment. the Seller has not done anything to convey any right to any Person that would
result in such Person having a right to payments due under the Receivables or otherwise to impair the rights of the Trust, the Trustee, the Trust Collateral Agent and the Noteholders in any Receivable or the proceeds thereof. Other than the security
interest granted to the Purchaser pursuant to this Agreement and except any other security interests that have been fully released and discharged as of the Closing Date, the Seller has not pledged, assigned, sold, granted a security interest in, or
otherwise conveyed any of the Receivables. The Seller has not authorized the filing of and is not aware of any financing statements against the Seller that include a description of collateral covering the Receivables other than any financing
statement relating to the security interest granted to the Purchaser hereunder or that has been terminated. The Seller is not aware of any judgment or tax lien filings against it. 
 24. Receivable Not Assumable. No Receivable is assumable by another Person in a manner which would release the Obligor thereof from such
Obligor’s obligations to the Seller with respect to such Receivable. 
 25. No Defenses. No Receivable is subject to any right of
rescission, setoff, counterclaim or defense and no such right has been asserted or threatened with respect to any Receivable. 
 26. No
Default. There has been no default, breach, violation or event permitting acceleration under the terms of any Receivable (other than payment delinquencies of not more than 30 days) and no condition exists or event has occurred and is continuing
that with notice, the lapse of time or both would constitute a default, breach, violation or event permitting acceleration under the terms of any Receivable, and there has been no waiver of any of the foregoing. 
 27. Insurance. At the time of an origination of a Receivable by the related Originator, an Originating Affiliate, a Dealer or Third-Party Lender,
each Financed Vehicle is required to be covered by a comprehensive and collision insurance policy (i) in an amount at least equal to the lesser of (a) its maximum insurable value or (b) the principal amount due from the Obligor under
the related Receivable, (ii) naming the related Originator (or an Originating Affiliate or a Titled Third-Party Lender) as loss payee and (iii) insuring against loss and damage due to fire, theft, transportation, collision and other risks
generally covered by comprehensive and collision coverage. Each Receivable requires the Obligor to maintain physical loss and damage insurance, naming the related Originator, an Originating Affiliate or a Titled Third-Party Lender and its successors
and assigns as additional insured parties, and each Receivable permits the holder thereof to obtain physical loss and damage insurance at the expense of the Obligor if the Obligor fails to do so. 
 28. Remaining Principal Balance. At the Initial Cutoff Date or the Subsequent Cutoff Date, as applicable, the Principal Balance of each Receivable
set forth in the Schedules of Receivables is true and accurate in all material respects. 
  

 B-5 

 29. Certain Characteristics of Receivables.  
  

	 	(A)	Each Receivable is secured by a new or used vehicle. 

  

	 	(B)	Each Receivable provides for level monthly payments (except for the initial down payment, which may be different from the level payments) that fully amortize the amount financed
over the original term to maturity of the automobile loan contract. 

  

	 	(C)	Each Receivable is a precomputed Receivable or a simple interest Receivable. 

  

	 	(D)	Each Receivable had a remaining maturity as of the Initial Cutoff Date or the Subsequent Cutoff Date, as applicable, of not more than 96 months. 

  

	 	(E)	Each Receivable had an original maturity as of the Initial Cutoff Date or the Subsequent Cutoff Date, as applicable, of not more than 96 monthly payments. 

 

	 	(F)	Each Receivable had a remaining Principal Balance as of the Initial Cutoff Date or the Subsequent Cutoff Date, as applicable, of at least $250 and not more than $150,000.

  

	 	(G)	Each Receivable had an Annual Percentage Rate as of the Initial Cutoff Date or the Subsequent Cutoff Date, as applicable, of at least 1% and not more than 28%.

  

	 	(H)	No Receivable was more than 30 days past due as of the Initial Cutoff Date or the Subsequent Cutoff Date, as applicable. 

  

	 	(I)	No funds had been advanced by the related Originator, any Originating Affiliate, any Dealer, any Third-Party Lender, or anyone acting on behalf of any of them in order to cause any
Receivable to qualify under clause (H) above. 

  

	 	(J)	Each Obligor had a billing address in the United States as of the date of origination of the related Receivable, is a natural person and is not an Affiliate of any party to any
Related Agreement. 

  

	 	(K)	Each Receivable is denominated in, and each Contract provides for payment in, United States dollars. 

  

	 	(L)	Each Receivable is identified on the Servicer’s master servicing records as an automobile installment sales contract or installment note. 

  

	 	(M)	Each Receivable arose under a Contract which is assignable without the consent of, or notice to, the Obligor thereunder, and does not contain a confidentiality provision that
purports to restrict the ability of the Servicer to exercise its rights under the Sale and Servicing Agreement, including, without limitation, its right to review the Contract. 

  

 B-6 

	 	(N)	Each Receivable arose under a Contract with respect to which the related Originator has performed all obligations required to be performed by it thereunder, and, in the event such
Contract is an installment sales contract, delivery of the Financed Vehicle to the related Obligor has occurred. 

  

	 	(O)	Not more than 2% of all Receivables (calculated by Aggregate Principal Balance) which have been transferred to the Issuer including the Initial Receivables as of the Initial Cutoff
Date and all Subsequent Receivables transferred to the Issuer as of such Subsequent Cutoff Date shall be “electronic chattel paper” as such term is defined in the UCC. 

  

	 	(P)	No automobile related to a Receivable was held in repossession inventory as of the related Cutoff Date. 

  

	 	(Q)	No Obligor was in bankruptcy as of the related Cutoff Date. 

  

	 	(R)	The Seller has not selected the Initial Receivables and the Subsequent Receivables in a manner that it believes is adverse to the interests of the Noteholders.

  

	 	(S)	The weighted average annual percentage of all Receivables (calculated by Aggregate Principal Balance) which have been transferred to the Issuer including the Initial Receivables as
of the Initial Cutoff Date and all Subsequent Receivables transferred to the Issuer as of such Subsequent Cutoff Date is not less than 10.00%. 

  

	 	(T)	The weighted average credit bureau score of all Receivables (calculated by Aggregate Principal Balance) which have been transferred to the Issuer including the Initial Receivables
as of the Initial Cutoff Date and all Subsequent Receivables transferred to the Issuer as of such Subsequent Cutoff Date is not less than 707. 

  

	 	(U)	The weighted average original term of all Receivables (calculated by Aggregate Principal Balance) which have been transferred to the Issuer including the Initial Receivables as of
the Initial Cutoff Date and all Subsequent Receivables transferred to the Issuer as of such Subsequent Cutoff Date is not more than 79 months. 

 30. Interest Calculation. Each Contract provides for the calculation of interest payable thereunder under either the “simple interest” method, the “Rule of 78’s” method or the
“precomputed interest” method. 
 31. Lien Enforcement. Each Receivable provides for enforcement of the lien or the clear
legal right of repossession, as applicable, on the Financed Vehicle securing such Receivable. 
  

 B-7 

 32. Prospectus Supplement Description. Each Receivable conforms, and all Receivables in the
aggregate conform, in all material respects to the description thereof set forth in the Prospectus Supplement. 
 33. Risk of Loss.
Each Contract contains provisions requiring the Obligor to assume all risk of loss or malfunction on the related Financed Vehicle, requiring the Obligor to pay all sales, use, property, excise and other similar taxes imposed on or with respect to
the Financed Vehicle and making the Obligor liable for all payments required to be made thereunder, without any setoff, counterclaim or defense for any reason whatsoever, subject only to the Obligor’s right of quiet enjoyment. 
 34. Leasing Business. To the best of the Seller’s and the Servicer’s knowledge, as appropriate, no Obligor is a Person involved in the
business of leasing or selling equipment of a type similar to the Obligor’s related Financed Vehicle. 
 35. Consumer Leases. No
Receivable constitutes a “consumer lease” under either (a) the UCC as in effect in the jurisdiction the law of which governs the Receivable or (b) the Consumer Leasing Act, 15 USC 1667. 
 36. Perfection. The Seller has taken all steps necessary to perfect its security interest against the related Obligors in the property securing
the Receivables and will take all necessary steps on behalf of the Issuer to maintain the Trust’s perfection of the security interest created by each Receivable in the related Financed Vehicle. 
  

 B-8 

 EXHIBIT A 
 SUBSEQUENT PURCHASE AGREEMENT 
 Transfer No.
             of Subsequent Receivables, dated as of
                        , 20    , pursuant to a Purchase Agreement (the “Purchase
Agreement”) dated as of May 24, 2007, between AMERICREDIT FINANCIAL SERVICES, INC., a Delaware corporation (the “Seller”), and AFS SENSUB CORP., a Nevada corporation (the “Purchaser”). 
 WITNESSETH: 
 WHEREAS pursuant to the
Purchase Agreement, the Seller wishes to convey the Subsequent Receivables to the Purchaser; and 
 WHEREAS, the Purchaser is willing to
accept such conveyance subject to the terms and conditions hereof. 
 NOW, THEREFORE, the Seller and the Purchaser hereby agree as follows:

 1. Defined Terms. Capitalized terms used herein shall have the meanings ascribed to them in the Purchase Agreement unless otherwise
defined herein. 
 “Subsequent Cutoff Date” shall mean, with respect to the Subsequent Receivables conveyed hereby,
                        , 20    . 
 “Subsequent Transfer Date” shall mean, with respect to the Subsequent Receivables conveyed hereby,
                        , 20    . 
 2. Schedule of Receivables. Attached hereto as Schedule A is a supplement to Schedule A to the Purchase Agreement listing the Receivables that
constitute the Subsequent Receivables to be conveyed pursuant to this Agreement on the Subsequent Transfer Date. 
 3. Conveyance of
Subsequent Receivables. In consideration of the Purchaser’s delivery to, or upon the order of, the Seller of $            , the Seller does hereby sell, transfer, assign,
set over and otherwise convey to the Purchaser, without recourse (except as expressly provided in the Purchase Agreement), all right, title and interest of the Seller in and to: 
 (a) the Subsequent Receivables and all moneys received thereon, after the Subsequent Cutoff Date; 
 (b) the security interests in the Financed Vehicles granted by Obligors pursuant to the respective Subsequent Receivables and any other
interest of the Seller in such Financed Vehicles; 
 (c) any proceeds and the right to receive proceeds with respect to the
respective Subsequent Receivables from claims and on any physical damage, credit life or disability insurance policies covering the related Financed Vehicles or Obligors and any proceed from the liquidation of such Subsequent Receivables;

  

 Ex-A-1 

 (d) any proceeds from any Subsequent Receivable repurchased by a Dealer pursuant to a
Dealer Agreement or a Third-Party Lender pursuant to an Auto Loan Purchase and Sale Agreement as a result of a breach of representation or warranty in the related Dealer Agreement or Auto Loan Purchase and Sale Agreement; 
 (e) all rights under any Service Contracts on the related Financed Vehicles; 
 (f) the related Receivables Files; 
 (g) all of the Seller’s (i) Accounts, (ii) Chattel Paper, (iii) Documents, (iv) Instruments and (v) General Intangibles (as such terms are defined in the UCC) relating to the property
described in (a) through (f); and 
 (h) all proceed and investments with respect to items (a) through (g).

 The execution and delivery of this Agreement shall constitute an acknowledgment by the Seller and the Purchaser that they intend that the
assignment and transfer herein contemplated constitute a sale and assignment outright, and not for security, of the Subsequent Receivables and the Subsequent Other Conveyed Property, conveying good title thereto free and clear of any Liens, from the
Seller to the Purchaser, and that the Subsequent Receivables and the Subsequent Other Conveyed Property shall not be a part of the Seller’s estate in the event of the bankruptcy, reorganization, arrangement, insolvency or liquidation
proceeding, or other proceeding under any federal or state bankruptcy or similar law, or the occurrence of another similar event, of, or with respect to the Seller. In the event that such conveyance is determined to be made as security for a loan
made by the Purchaser, the Issuer, the Noteholders or the Certificateholder to the Seller, the parties hereto intend that the Seller shall have granted to the Purchaser a security interest in all of the Seller’s right, title and interest in and
to the Subsequent Receivables and the Subsequent Other Conveyed Property conveyed pursuant to this Section 3, and that this Agreement shall constitute a security agreement under applicable law. 
 4. Representations and Warranties of the Seller. The Seller hereby represents and warrants to the Purchaser as of the date of this Agreement and
as of the Subsequent Transfer Date that: 
 (a) Schedule of Representations. The representations and warranties
relating to the Subsequent Receivables set forth on the Schedule of Representations attached as Schedule B to the Purchase Agreement are true and correct. 
 (b) Organization and Good Standing. The Seller has been duly organized, is validly existing as a corporation in good standing under the laws of the State of Delaware with power and authority to own its
properties and to conduct its businesses as such properties are currently owned and such business is currently conducted, and has had at all relevant times, and now has, the power, authority and legal right to acquire, own and sell the Subsequent
Receivables and the Subsequent Other Conveyed Property transferred to the Purchaser. 
 (c) Due Qualification. The
Seller is duly qualified to do business as a foreign corporation, is in good standing, and has obtained all necessary licenses and approvals in all 

  

 Ex-A-2 

 
jurisdictions where the failure to do so would materially and adversely affect the Seller’s ability to transfer the respective Subsequent Receivables
and the Subsequent Other Conveyed Property to the Purchaser pursuant to this Agreement, or the validity or enforceability of the respective Subsequent Receivables and the Subsequent Other Conveyed Property or to perform the Seller’s obligations
hereunder and under the Seller’s Related Documents. 
 (d) Power and Authority. The Seller has the power and
authority to execute and deliver this Agreement and its Related Documents and to carry out its terms and their terms; the Seller has full power and authority to sell and assign the Subsequent Receivables and the Subsequent Other Conveyed Property to
be sold and assigned to and deposited with the Purchaser by it and has duly authorized such sale and assignment to the Purchaser by all necessary corporate action; and the execution, delivery and performance of this Agreement and the Seller’s
Related Documents have been duly authorized by the Seller by all necessary corporate action. 
 (e) Valid Sale, Binding
Obligations. This Agreement effects a valid sale, transfer and assignment of the respective Subsequent Receivables and the Subsequent Other Conveyed Property, enforceable against the Seller and creditors of and purchasers from the Seller; and
this Agreement and the Seller’s Related Documents, when duly executed and delivered, shall constitute legal, valid and binding obligations of the Seller enforceable in accordance with their respective terms, except as enforceability may be
limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights generally and by equitable limitations on the availability of specific remedies, regardless of whether such enforceability is
considered in a proceeding in equity or at law. 
 (f) No Violation. The consummation of the transactions contemplated
by this Agreement and the Related Documents and the fulfillment of the terms of this Agreement and the Related Documents shall not conflict with, result in any breach of any of the terms and provisions of or constitute (with or without notice, lapse
of time or both) a default under the certificate of incorporation or bylaws of the Seller, or any indenture, agreement, mortgage, deed of trust or other instrument to which the Seller is a party or by which it is bound, or result in the creation or
imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement, mortgage, deed of trust or other instrument, other than this Agreement, or violate any law, order, rule or regulation applicable to the Seller
of any court or of any federal or state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Seller or any of their respective properties. 
 (g) No Proceedings. There are no proceedings or investigations pending or, to the Seller’s knowledge, threatened against the
Seller, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over the Seller or its properties (A) asserting the invalidity of this Agreement or any of the Related
Documents, (B) seeking to prevent the consummation of any of the transactions contemplated by this Agreement or any of the Related Documents, (C) seeking any determination or ruling that might materially and adversely affect the
performance by the 

  

 Ex-A-3 

 
Seller of its obligations under, or the validity or enforceability of, this Agreement or any of the Related Documents, or (D) seeking to adversely
affect the federal income tax or other federal, state or local tax attributes of, or seeking to impose any excise, franchise, transfer or similar tax upon, the transfer and acquisition of the respective Subsequent Receivables and the Subsequent
Other Conveyed Property hereunder. 
 (h) Chief Executive Office. The chief executive office of the Seller is at 801
Cherry Street, Suite 3900, Fort Worth, Texas 76102. 
 (i) Legal Name. The Seller’s exact legal name is, and at
all times has been, the name indicated for it on the signature page below. 
 (j) Organization. the Seller is, and at
all times has been, a corporation organized exclusively under the laws of Delaware. 
 (k) Principal Balance. The
aggregate Principal Balance of the Subsequent Receivables transferred by the Seller listed on Schedule A attached hereto and conveyed to the Purchaser pursuant to this Agreement as of the Subsequent Cutoff Date is
$            . 
 (l) Seller’s Intention. The
Subsequent Receivables are being transferred with the intention of removing them from the Seller’s estate pursuant to Section 541 of the United States Bankruptcy Code, as the same may be amended from time to time. 
 5. Representations and Warranties of the Purchaser. The Purchaser hereby represents and warrants to the Seller as of the date of this Agreement
and as of the Subsequent Transfer Date that: 
 (a) Organization and Good Standing. Purchaser has been duly organized
and is validly existing and in good standing as a corporation under the laws of the State of Nevada, with the power and authority to own its properties and to conduct its business as such properties are currently owned and such business is currently
conducted, and had at all relevant times, and has, full power, authority and legal right to acquire and own the Subsequent Receivables and the Subsequent Other Conveyed Property, and to transfer the Subsequent Receivables and the Subsequent Other
Conveyed Property to the Issuer pursuant to the Sale and Servicing Agreement. 
 (b) Due Qualification. Purchaser is
duly qualified to do business as a foreign corporation, is in good standing, and has obtained all necessary licenses and approvals in all jurisdictions where the failure to do so would materially and adversely affect Purchaser’s ability to
acquire the Subsequent Receivables or the Subsequent Other Conveyed Property, and to transfer the Subsequent Receivables and the Subsequent Other Conveyed Property to the Issuer pursuant to the Sale and Servicing Agreement, or the validity or
enforceability of the Subsequent Receivables and the Subsequent Other Conveyed Property or to perform Purchaser’s obligations hereunder and under the Purchaser’s Related Documents. 
 (c) Power and Authority. Purchaser has the power, authority and legal right to execute and deliver this Agreement and to carry out
the terms hereof and to acquire the 

  

 Ex-A-4 

 
Subsequent Receivables and the Subsequent Other Conveyed Property hereunder; and the execution, delivery and performance of this Agreement and all of the
documents required pursuant hereto have been duly authorized by Purchaser by all necessary corporate action. 
 (d) No
Consent Required. Purchaser is not required to obtain the consent of any other Person, or any consent, license, approval or authorization or registration or declaration with, any governmental authority, bureau or agency in connection with the
execution, delivery or performance of this Agreement and the Related Documents, except for such as have been obtained, effected or made. 
 (e) Binding Obligation. This Agreement constitutes a legal, valid and binding obligation of Purchaser, enforceable against Purchaser in accordance with its terms, subject, as to enforceability, to applicable
bankruptcy, insolvency, reorganization, conservatorship, receivership, liquidation and other similar laws and to general equitable principles. 
 (f) No Violation. The execution, delivery and performance by Purchaser of this Agreement, the consummation of the transactions contemplated by this Agreement and the Related Documents and the fulfillment of the
terms of this Agreement and the Related Documents do not and will not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice, lapse of time or both) a default under, the certificate of
incorporation or bylaws of Purchaser, or conflict with or breach any of the terms or provisions of, or constitute (with or without notice or lapse of time) a default under, any indenture, agreement, mortgage, deed of trust or other instrument to
which Purchaser is a party or by which Purchaser is bound or to which any of its properties are subject, or result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement, mortgage,
deed of trust or other instrument (other than the Sale and Servicing Agreement and the Spread Account Agreement), or violate any law, order, rule or regulation, applicable to Purchaser or its properties, of any federal or state regulatory body, any
court, administrative agency, or other governmental instrumentality having jurisdiction over Purchaser or any of its properties. 
 (g) No Proceedings. There are no proceedings or investigations pending, or, to the knowledge of Purchaser, threatened against Purchaser, before any court, regulatory body, administrative agency, or other tribunal or governmental
instrumentality having jurisdiction over Purchaser or its properties: (i) asserting the invalidity of this Agreement or any of the Related Documents, (ii) seeking to prevent the consummation of any of the transactions contemplated by this
Agreement or any of the Related Documents, (iii) seeking any determination or ruling that might materially and adversely affect the performance by Purchaser of its obligations under, or the validity or enforceability of, this Agreement or any
of the Related Documents or (iv) that may adversely affect the federal or state income tax attributes of, or seeking to impose any excise, franchise, transfer or similar tax upon, the transfer and acquisition of the Subsequent Receivables and
the Subsequent Other Conveyed Property hereunder or the transfer of the Subsequent Receivables and the Subsequent Other Conveyed Property to the Issuer pursuant to the Sale and Servicing Agreement. 
 In the event of any breach of a representation and warranty made by Purchaser 

  

 Ex-A-5 

 
hereunder, Seller covenants and agrees that it will not take any action to pursue any remedy that it may have hereunder, in law, in equity or otherwise,
until a year and a day have passed since the date on which all Notes, Certificates, pass-through certificates or other similar securities issued by Purchaser, or a trust or similar vehicle formed by Purchaser, have been paid in full. Seller and
Purchaser agree that damages will not be an adequate remedy for such breach and that this covenant may be specifically enforced by Purchaser, Issuer or by the Trustee on behalf of the Noteholders and Owner Trustee on behalf of the Certificateholder.

 6. Conditions Precedent. The obligation of the Purchaser to acquire the Subsequent Receivables hereunder is subject to the
satisfaction, on or prior to the Subsequent Transfer Date, of the following conditions precedent: 
 (a) Representations
and Warranties. Each of the representations and warranties made by the Seller in Sections 4 and 5 of this Agreement and in Sections 3.1 and 3.2 of the Purchase Agreement shall be true and correct as of the date of this Agreement and as of the
Subsequent Transfer Date. 
 (b) Conditions. Upon the resale of the Subsequent Receivables sold by the Seller to the
Purchaser hereunder and by the Purchaser to the Issuer pursuant to the Sale and Servicing Agreement and any related Subsequent Transfer Agreement, the conditions precedent to such sale, set forth in Section 2.2(b) of the Sale and Servicing
Agreement shall be satisfied. 
 (c) Additional Information. The Seller shall have delivered to the Purchaser such
information as was reasonably requested by the Purchaser to satisfy itself as to (i) the accuracy of the representations and warranties set forth in Section 4 of this Agreement and in Sections 3.1 and 3.2 of the Purchase Agreement and
(ii) the satisfaction of the conditions set forth in this Section. 
 7. Ratification of Agreement. As supplemented by this
Agreement, the Purchase Agreement is in all respects ratified and confirmed and the Purchase Agreement as so supplemented by this Agreement shall be read, taken and construed as one and the same instrument. 
 8. Counterparts. This Agreement may be executed in two or more counterparts (and by different parties in separate counterparts), each of which
shall be an original but all of which together shall constitute one and the same instrument. 
 9. Conveyance of the Subsequent
Receivables and the Subsequent Other Conveyed Property to the Issuer. The Seller acknowledges that Purchaser intends, pursuant to the Sale and Servicing Agreement, to convey the Subsequent Receivables and the Subsequent Other Conveyed Property,
together with its rights under this Agreement, to the Issuer on the Subsequent Transfer Date. The Seller acknowledges and consents to such conveyance and pledges and waives any further notice thereof and covenants and agrees that the representations
and warranties of the Seller contained in this Agreement and the rights of Purchaser hereunder are intended to benefit the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder. In furtherance of the
foregoing, the Seller covenants and agrees to perform its duties and obligations 

  

 Ex-A-6 

 
hereunder, in accordance with the terms hereof for the benefit of the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the
Certificateholder and that, notwithstanding anything to the contrary in this Agreement, the Seller shall be directly liable to the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder (notwithstanding any
failure by the Servicer, the Backup Servicer or the Purchaser to perform its duties and obligations hereunder or under Related Documents) and that the Trust Collateral Agent may enforce the duties and obligations of the Seller under this Agreement
against the Seller for the benefit of the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder. 
 10.
GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND THIS AGREEMENT AND ALL MATTERS ARISING OUT OF OR RELATING IN ANY WAY TO THE AGREEMENT SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO
ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 
  

 Ex-A-7 

 IN WITNESS WHEREOF, the Seller and the Purchaser have caused this Agreement to be duly executed and
delivered by their respective duly authorized officers as of day and the year first above written. 
  

			
	 AMERICREDIT FINANCIAL SERVICES, INC.,
as Seller

		
	By:	 	  

	Name:	 	
	Title:	 	
	
	AFS SENSUB CORP., as Purchaser
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	Acknowledged and Accepted:
	
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,
 not in its individual capacity but solely as Trust Collateral Agent

		
	By:	 	  

	Name:	 	
	Title:	 	

  

 Ex-A-8 

 SCHEDULE A 
 SCHEDULE OF SUBSEQUENT RECEIVABLES 
  

 Ex-A-9Custodian Agreement, dated as of May 24, 2007

 Exhibit 10.3 
 Execution Copy 
 CUSTODIAN AGREEMENT 
 between 
 AMERICREDIT FINANCIAL SERVICES, INC., 
 as Custodian, 
 and 

WELLS FARGO BANK, NATIONAL ASSOCIATION, 
 as Trust Collateral Agent 
 Dated as of May 24, 2007 

 THIS CUSTODIAN AGREEMENT, dated as of May 24, 2007, is made with respect to the issuance of Notes
and a Certificate by AmeriCredit Prime Automobile Receivables Trust 2007-1 (the “Issuer”), and is between AMERICREDIT FINANCIAL SERVICES, INC., as custodian (in such capacity, the “Custodian”) and WELLS FARGO BANK,
NATIONAL ASSOCIATION, a national banking association, as trust collateral agent (the “Trust Collateral Agent”). Capitalized terms used herein which are not defined herein shall have the meanings set forth in the Sale and Servicing
Agreement (as hereinafter defined). 
 WITNESSETH: 
 WHEREAS, AmeriCredit Financial Services, Inc. (“AFS”) and AFS SenSub Corp. (“AFS SenSub”) have entered into a Purchase Agreement dated as of May 24, 2007 (the “Purchase
Agreement”), pursuant to which AFS has sold, transferred and assigned to AFS SenSub all of its right, title and interest in and to the Initial Receivables and will sell, transfer and assign to AFS SenSub on the applicable Subsequent
Transfer Date all of its right, title and interest in and to the related Subsequent Receivables; 
 WHEREAS, the Issuer, AFS, as Servicer
(the “Servicer”), AFS SenSub and Wells Fargo Bank, National Association, as Trust Collateral Agent and as Backup Servicer, have entered into a Sale and Servicing Agreement, dated as of May 24, 2007 (the “Sale and
Servicing Agreement”), pursuant to which AFS SenSub has sold, transferred and assigned to the Issuer all of AFS SenSub’s right, title and interest in and to the Initial Receivables and will sell, transfer and assign to the Issuer on
the applicable Subsequent Transfer Date all of AFS SenSub’s right, title and interest in and to the related Subsequent Receivables; 
 WHEREAS, the Trust Collateral Agent wishes to appoint the Custodian to hold the Receivable Files as the custodian on behalf of the Issuer and the Trust Collateral Agent; 
 NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration the receipt and adequacy of which
are hereby acknowledged, the parties agree as follows: 
 1. Appointment of Custodian; Acknowledgement of Receipt. Subject to the
terms and conditions hereof, the Trust Collateral Agent hereby revocably appoints the Custodian, but shall not be responsible for the acts or omissions of the Custodian, and the Custodian hereby accepts such appointment, as custodian and bailee on
behalf of the Issuer and the Trust Collateral Agent, to maintain exclusive custody of the Receivable Files relating to the Receivables from time to time pledged to the Trust Collateral Agent as part of the Other Conveyed Property. In performing its
duties hereunder, the Custodian agrees to act with reasonable care, using that degree of skill and attention that a commercial bank acting in the capacity of a custodian would exercise with respect to files relating to comparable automotive or other
receivables that it services or holds for itself or others. The Custodian hereby, as of the Closing Date, and with respect to any Subsequent Receivables as of the applicable Subsequent Transfer Date, acknowledges receipt of the Receivable File for
each Receivable listed in the Schedule of Receivables attached as Schedule A to the Sale and Servicing Agreement subject to any exceptions noted on the Custodian’s Acknowledgement (as defined below). As evidence of its acknowledgement of such
receipt of such Receivables, the Custodian shall execute and deliver 

  

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on the Closing Date, and with respect to any Subsequent Receivables, the applicable Subsequent Transfer Date, the Custodian’s Acknowledgement attached
hereto as Exhibit A-1 or Exhibit A-2 with respect to any Subsequent Receivable (the “Custodian’s Acknowledgement”). 
 2. Maintenance of Receivables Files at Office. The Custodian agrees to maintain the Receivable Files at its office located at 4001 Embarcadero, Suite 200, Arlington, Texas 76014 or at such other office as shall from time to time
be identified to the Trust Collateral Agent upon prior written notice and the Custodian will hold the Receivable Files in such office on behalf of the Issuer and the Trust Collateral Agent, clearly identified as being separate from any other
instruments and files on its records, including other instruments and files held by the Custodian and in compliance with Section 3(c) hereof. 
 3. Duties of Custodian. 
 (a) Safekeeping. The Custodian shall hold the Receivable Files on behalf of the Trust
Collateral Agent clearly identified as being separate from all other files or records maintained by the Custodian at the same location and shall maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable
File as will enable the Trust Collateral Agent to comply with the terms and conditions of the Sale and Servicing Agreement. Each Receivable representing tangible chattel paper (as such term is defined in the Uniform Commercial Code) shall be stamped
on both of the first page and the signature page (if different) to indicate the assignment and/or pledge of each such Receivable. Each Receivable shall be identified on the books and records of the Custodian in a manner that (i) is consistent
with the practices of a commercial bank acting in the capacity of custodian with respect to similar receivables, (ii) indicates that the Receivables are held by the Custodian on behalf of the Trust Collateral Agent and (iii) is otherwise
necessary, as reasonably determined by the Custodian, to comply with the terms of this Custodian Agreement. The Custodian shall conduct, or cause to be conducted, periodic physical inspections of the Receivable Files held by it under this Custodian
Agreement, and of the related accounts, records and computer systems, in such a manner as shall enable the Trust Collateral Agent and the Custodian to verify the accuracy of the Custodian’s inventory and recordkeeping. Such inspections shall be
conducted at such times, in such manner and by such persons including, without limitation, independent accountants, as the Trust Collateral Agent may request and the cost of such inspections shall be borne directly by the Custodian and not by the
Trust Collateral Agent. The Custodian shall promptly report to the Trust Collateral Agent any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and promptly take appropriate
action to remedy any such failure. Upon request, the Custodian shall make copies or other electronic file records (e.g. diskettes, CD’s, etc.) (the “Copies”) of the Receivable Files and shall deliver such Copies to the Trust
Collateral Agent and the Trust Collateral Agent shall hold such Copies on behalf of the Noteholders. Subject to Section 3(c) hereof, the Custodian shall at all times (i) maintain the original or with respect to “electronic chattel
paper” as such term is defined in the UCC, an authoritative copy of the fully executed original retail installment sales contract or promissory note and (ii) maintain the original of the Lien Certificate or application therefore (if no
such Lien Certificate has yet been issued), in each case relating to each Receivable in a fireproof vault; provided, however, the Lien Certificate may be maintained electronically by the Registrar of Titles of the applicable state
pursuant to applicable state laws, with confirmation thereof maintained by the Custodian or a third-party service provider. 
  

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 (b) Access to Records. The Custodian shall, subject only to the Custodian’s security
requirements applicable to its own employees having access to similar records held by the Custodian, which requirements shall be consistent with the practices of a commercial bank acting in the capacity of custodian with respect to similar files or
records, and at such times as may be reasonably imposed by the Custodian, permit only the Noteholders and the Trust Collateral Agent or their duly authorized representatives, attorneys or auditors to inspect the Receivable Files and the related
accounts, records, and computer systems maintained by the Custodian pursuant hereto at such times as the Noteholders or the Trust Collateral Agent may reasonably request. 
 (c) Release of Documents. Consistent with the practices of a commercial bank acting in the capacity of custodian with respect to similar files or records, the Custodian may release any Receivable in the
Receivable Files to the Servicer, if appropriate, under the circumstances provided in Section 3.3(b) of the Sale and Servicing Agreement. 
 (d) Administration; Reports. The Custodian shall, in general, attend to all non-discretionary details in connection with maintaining custody of the Receivable Files on behalf of the Trust Collateral Agent. In addition, the
Custodian shall assist the Trust Collateral Agent generally in the preparation of any routine reports to Noteholders or to regulatory bodies, to the extent necessitated by the Custodian’s custody of the Receivable Files. 
 (e) Review of Lien Certificates. On or before the Closing Date, and on or before the
applicable Subsequent Transfer Date in the case of any Subsequent Receivables, the Custodian shall deliver to the Trust Collateral Agent a listing in the form attached hereto as Schedule II of Exhibit A-1, or Schedule II of Exhibit A-2 with respect
to any Subsequent Receivables, of all Receivables with respect to which a Lien Certificate, showing AFS (or an Originating Affiliate or a Titled Third-Party Lender) as secured party, was not included in the related Receivable File as of such date.
In addition, the Custodian shall deliver to the Trust Collateral Agent an exception report in the form attached hereto as Schedule II of Exhibit A-1, or Schedule II of Exhibit A-2 with respect to any Subsequent Receivables (i) no later than the
last Business Day of the calendar month during which the 90th day after the Closing Date (or, with respect to
Subsequent Receivables, the 90th day after the applicable Subsequent Transfer Date) occurred, (ii) no later
than the last Business Day of the calendar month during which the 180th day after the Closing Date (or, with respect
to Subsequent Receivables, the 180th day after the applicable Subsequent Transfer Date) occurred and (iii) no
later than the last Business Day of the calendar month during which the 240th day after the Closing Date (or, with
respect to Subsequent Receivables, the 240th day after the applicable Subsequent Transfer Date) occurred.

 4. Instructions; Authority to Act. The Custodian shall be deemed to have received proper instructions with respect to the
Receivable Files upon its receipt of written instructions signed by a Responsible Officer of the Trust Collateral Agent. Such instructions may be general or specific in terms. A copy of any such instructions shall be furnished by the Trust
Collateral Agent to the Trustee and the Issuer. 
 5. Custodian Fee. For its services under this Agreement, the Custodian shall
be entitled to reasonable compensation to be paid by the Servicer. 
  

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 6. Indemnification by the Custodian. The Custodian agrees to indemnify the Issuer, the Owner
Trustee, the Trust Collateral Agent, the Backup Servicer and the Trustee for any and all liabilities, obligations, losses, damage, payments, costs or expenses of any kind whatsoever (including the fees and expenses of counsel) that may be imposed
on, incurred or asserted against the Issuer, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer and the Trustee and their respective officers, directors, employees, agents, attorneys and successors and assigns as the result of any
act or omission in any way relating to the maintenance and custody by the Custodian of the Receivable Files; provided, however, that the Custodian shall not be liable for any portion of any such liabilities, obligations, losses,
damages, payments or costs or expenses due to the willful misfeasance, bad faith or gross negligence of the Issuer, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer or the Trustee or the officers, directors, employees and agents
thereof. In no event shall the Custodian be liable to any third party for acts or omissions of the Custodian. 
 7. Advice of
Counsel. The Custodian and the Trust Collateral Agent further agree that the Custodian shall be entitled to rely and act upon advice of counsel with respect to its performance hereunder as custodian and shall be without liability for any action
reasonably taken pursuant to such advice, provided that such action is not in violation of applicable Federal or state law. 
 8. Effective Period, Termination, and Amendment; Interpretive and Additional Provisions. This Custodian Agreement shall become effective as of the date hereof and shall continue in full force and effect until terminated as
hereinafter provided. This Custodian Agreement may be amended at any time by mutual agreement of the parties hereto with the prior written consent of the Backup Servicer and the Controlling Party, and may be terminated by any party by giving written
notice to the other parties, such termination to take effect no sooner than thirty (30) days after the date of such notice. So long as AFS is serving as Custodian, any termination of AFS as Servicer under the Sale and Servicing Agreement shall
terminate AFS as Custodian under this Agreement. Upon any termination or amendment of this Custodian Agreement, the Trust Collateral Agent, in the case of amendments, and the party seeking termination, in the case of terminations, shall give written
notice to Standard & Poor’s, a division of the McGraw-Hill Companies, Inc. (“Standard & Poor’s”), and Moody’s Investors Service (“Moody’s”) (collectively, the “Rating
Agencies”). Immediately after receipt of notice of termination of this Custodian Agreement, the Custodian shall deliver the Receivable Files to the Trust Collateral Agent on behalf of the Noteholders and at the Custodian’s expense, at
such place or places as the Trust Collateral Agent may designate, and the Trust Collateral Agent, or its agent, as the case may be, shall act as custodian for such Receivables Files on behalf of the Noteholders until such time as a successor
custodian has been appointed. If, within seventy-two (72) hours after the termination of this Custodian Agreement, the Custodian has not delivered the Receivable Files in accordance with the preceding sentence, the Trust Collateral Agent may
enter the premises of the Custodian and remove the Receivable Files from such premises. In connection with the administration of this Agreement, the parties may agree from time to time upon the interpretation of the provisions of this Agreement as
may in their joint opinion be consistent with the general tenor and purposes of this Agreement, any such interpretation to be signed by all parties and annexed hereto. 
  

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 9. Governing Law. This Custodian Agreement shall be governed by and construed in accordance
with the laws of the State of New York, without regard to the conflict of law provisions thereof (other than Sections 5-1401 and 5-1402 of the New York General Obligations Law). 
 10. Notices. All demands, notices and communications hereunder shall be in writing, electronically delivered or mailed, and shall be deemed
to have been duly given upon receipt (a) in the case of the Custodian, at the following address: AmeriCredit Financial Services, Inc., 801 Cherry Street, Suite 3900, Fort Worth, Texas 76102, Attention: Chief Financial Officer, (b) in
the case of the Trust Collateral Agent, at the following address: Wells Fargo Bank, National Association, Sixth and Marquette Avenue, MAC N9311–161, Minneapolis, Minnesota 55479 (facsimile number (612) 667-3464), Attention: Corporate Trust
Services/Asset Backed Administration, (c) in the case of Moody’s, at the following address: 99 Church Street, New York, New York 10007, and (d) in the case of Standard and Poor’s via electronic delivery to
Servicer_reports@sandp.com; for any information not available in electronic format, hard copies should be sent to the following address: 55 Water Street, 41st floor, New York, New York 10041-0003, Attention: ABS Surveillance Group, or at such other
address as shall be designated by such party in a written notice to the other parties. 
 11. Binding Effect. This Custodian
Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns. Concurrently with the appointment of a successor trustee under the Sale and Servicing Agreement, the parties hereto
shall amend this Custodian Agreement to make said successor trustee, the successor to the Trust Collateral Agent hereunder. 
 [Remainder of
page intentionally left blank] 
  

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 IN WITNESS WHEREOF, each of the parties hereto has caused this Custodian Agreement to be executed in its
name and on its behalf by a duly authorized officer on the day and year first above written. 
  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,
 as Trust Collateral Agent

		
	By:	 	 /s/ Marianna C. Stershic

	Name:	 	Marianna C. Stershic
	Title:	 	Vice President
	
	 AMERICREDIT FINANCIAL SERVICES, INC.,
 as
Custodian

		
	By:	 	 /s/ Susan B. Sheffield

	Name:	 	Susan B. Sheffield
	Title:	 	Senior Vice President, Structured Finance

 The foregoing Custodian Agreement 
 is hereby confirmed and accepted 
 as of the date first above written. 
 AMERICREDIT PRIME AUTOMOBILE RECEIVABLES TRUST 2007-1, 
 as Issuer

  

			
	By WILMINGTON TRUST COMPANY not in its individual capacity but solely as Owner Trustee on behalf of the Trust,
		
	By:	 	 /s/ W. Chris Sponenberg

	Name:	 	W. Chris Sponenberg
	Title:	 	Vice President

 [Custodian Agreement] 

 EXHIBIT A-1 
 CUSTODIAN’S ACKNOWLEDGEMENT 
 AmeriCredit Financial Services, Inc. (the
“Custodian”), acting as Custodian under a Custodian Agreement, dated as of May 24, 2007, between the Custodian and Wells Fargo Bank, National Association, as Trust Collateral Agent, pursuant to which the Custodian holds on
behalf of the Trust Collateral Agent for the benefit of the Noteholders certain “Receivable Files,” as defined in the Sale and Servicing Agreement, dated as of May 24, 2007 (the “Sale and Servicing Agreement”), among
AmeriCredit Prime Automobile Receivables Trust 2007-1, AFS SenSub Corp., as Seller, AmeriCredit Financial Services, Inc., as Servicer, and Wells Fargo Bank, National Association, as Backup Servicer and Trust Collateral Agent, hereby acknowledges
receipt of the Receivable File for each Receivable listed in the Schedule of Receivables attached as Schedule A to said Sale and Servicing Agreement except as noted in the Custodian Exception List attached as Schedule I and the Lien Perfection
Exception List attached as Schedule II hereto. 
 IN WITNESS WHEREOF, AmeriCredit Financial Services, Inc. has caused this acknowledgement to
be executed by its duly authorized officer as of this 31st day of May, 2007. 
  

			
	 AMERICREDIT FINANCIAL SERVICES, INC.,

	 as Custodian

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 SCHEDULE I 
 Custodian Exception List 

 SCHEDULE II 
 Lien Perfection Exception List 

 EXHIBIT A-2 
 CUSTODIAN’S ACKNOWLEDGEMENT 
 AmeriCredit Financial Services, Inc. (the
“Custodian”), acting as Custodian under a Custodian Agreement, dated as of May 24, 2007, between the Custodian and Wells Fargo Bank, National Association, as Trust Collateral Agent, pursuant to which the Custodian holds on
behalf of the Noteholders certain “Receivable Files,” as defined in the Sale and Servicing Agreement, dated as of May 24, 2007, among AmeriCredit Prime Automobile Receivables Trust 2007-1, AFS SenSub Corp., as Seller,
AmeriCredit Financial Services, Inc., as Servicer, and Wells Fargo Bank, National Association, as Trust Collateral Agent and as Backup Servicer, hereby acknowledges receipt of the Receivable File for each Receivable listed in Schedule A to the
Subsequent Transfer Agreement dated as of                         , 20    , among AmeriCredit
Prime Automobile Receivables Trust 2007-1, as Issuer, AFS SenSub Corp., as Seller, AmeriCredit Financial Services, Inc., as Servicer, Wells Fargo Bank, National Association, as Trust Collateral Agent and as Backup Servicer, except as noted in the
Exception List attached as Schedule I and the Lien Perfection Exception List attached as Schedule II hereto. 
 IN WITNESS WHEREOF,
AmeriCredit Financial Services, Inc. has caused this acknowledgement to be executed by its duly authorized officer as of this     th day of
                        , 20    . 
  

			
	 AMERICREDIT FINANCIAL SERVICES, INC.,
 as
Custodian

		
	By:	 	  

	Name:	 	
	Title:	 	

 SCHEDULE I 
 Custodian Exception List 

 SCHEDULE II 
 Lien Perfection Exception List

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