Document:

Prepared by R.R. Donnelley Financial -- AMENDED AND RESTATED TRUST AGREEMENT

 Exhibit 4.2 
  
 
 
 AMENDED AND RESTATED 
  
 TRUST AGREEMENT 
  
 between 
  
 AFS FUNDING TRUST 
 Seller 
  
 and 
  
 DEUTSCHE BANK
TRUST COMPANY DELAWARE 
 Owner Trustee 
  
 Dated as of September 5, 2002 
  
 

  
 TABLE OF CONTENTS 
  
 
	 
	 ARTICLE I. DEFINITIONS
 	  	 1
 
	 
	 SECTION 1.1.
 	  	 Capitalized Terms
 	  	 1
 
	 SECTION 1.2.
 	  	 Other Definitional Provisions
 	  	 3
 
	 
	 ARTICLE II. ORGANIZATION
 	  	 4
 
	 
	 SECTION 2.1.
 	  	 Name
 	  	 4
 
	 SECTION 2.2.
 	  	 Office
 	  	 4
 
	 SECTION 2.3.
 	  	 Purposes and Powers
 	  	 4
 
	 SECTION 2.4.
 	  	 Appointment of Owner Trustee
 	  	 5
 
	 SECTION 2.5.
 	  	 Initial Capital Contribution of Trust Estate
 	  	 5
 
	 SECTION 2.6.
 	  	 Declaration of Trust
 	  	 5
 
	 SECTION 2.7.
 	  	 Title to Trust Property
 	  	 5
 
	 SECTION 2.8.
 	  	 Situs of Trust
 	  	 6
 
	 SECTION 2.9.
 	  	 Representations and Warranties of the Depositor
 	  	 6
 
	 SECTION 2.10.
 	  	 Covenants of the Certificateholder
 	  	 7
 
	 SECTION 2.11.
 	  	 Federal Income Tax Treatment of the Trust
 	  	 7
 
	 SECTION 2.12.
 	  	 [Reserved]
 	  	 8
 
	 
	 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST
 	  	 8
 
	 
	 SECTION 3.1.
 	  	 Initial Ownership
 	  	 8
 
	 SECTION 3.2.
 	  	 The Certificate
 	  	 8
 
	 SECTION 3.3.
 	  	 Authentication of Certificate
 	  	 8
 
	 SECTION 3.4.
 	  	 Registration of Transfer and Exchange of Certificate
 	  	 8
 
	 SECTION 3.5.
 	  	 Mutilated, Destroyed, Lost or Stolen Certificates
 	  	 9
 
	 SECTION 3.6.
 	  	 Persons Deemed Certificateholders
 	  	 9
 
	 SECTION 3.7.
 	  	 Maintenance of Office or Agency
 	  	 10
 
	 SECTION 3.8.
 	  	 Disposition in Whole But Not in Part
 	  	 10
 
	 SECTION 3.9.
 	  	 ERISA Restrictions
 	  	 10
 
	 
	 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS
 	  	 10
 
	 
	 SECTION 4.1.
 	  	 Prior Notice to Holder with Respect to Certain Matters
 	  	 10
 
	 SECTION 4.2.
 	  	 Action by Certificateholder with Respect to Certain Matters
 	  	 11
 
	 SECTION 4.3.
 	  	 Restrictions on Certificateholder's Power
 	  	 11
 
	 SECTION 4.4.
 	  	 Rights of Security Insurer
 	  	 12
 
	 
	 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE
 	  	 12
 
	 
	 SECTION 5.1.
 	  	 General Authority
 	  	 12
 
	 SECTION 5.2.
 	  	 General Duties
 	  	 12
 
	 SECTION 5.3.
 	  	 Action upon Instruction
 	  	 13
 
	 SECTION 5.4.
 	  	 No Duties Except as Specified in this Agreement or in Instructions
 	  	 13
 
	 SECTION 5.5.
 	  	 No Action Except under Specified Documents or Instructions
 	  	 14
 

 
 

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	 SECTION 5.6.
 	  	 Restrictions
 	  	 14
 
	 
	 ARTICLE VI. CONCERNING THE OWNER TRUSTEE
 	  	 14
 
	 
	 SECTION 6.1.
 	  	 Acceptance of Trusts and Duties
 	  	 14
 
	 SECTION 6.2.
 	  	 Furnishing of Documents
 	  	 15
 
	 SECTION 6.3.
 	  	 Representations and Warranties
 	  	 16
 
	 SECTION 6.4.
 	  	 Reliance; Advice of Counsel
 	  	 16
 
	 SECTION 6.5.
 	  	 Not Acting in Individual Capacity
 	  	 17
 
	 SECTION 6.6.
 	  	 Owner Trustee Not Liable for Certificate or Receivables
 	  	 17
 
	 SECTION 6.7.
 	  	 Owner Trustee May Own Notes
 	  	 17
 
	 SECTION 6.8.
 	  	 Payments from Owner Trust Estate
 	  	 17
 
	 SECTION 6.9.
 	  	 Doing Business in Other Jurisdictions
 	  	 17
 
	 
	 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE
 	  	 18
 
	 
	 SECTION 7.1.
 	  	 Owner Trustee's Fees and Expenses
 	  	 18
 
	 SECTION 7.2.
 	  	 Indemnification
 	  	 18
 
	 SECTION 7.3.
 	  	 Payments to the Owner Trustee
 	  	 18
 
	 SECTION 7.4.
 	  	 Non-recourse Obligations
 	  	 19
 
	 
	 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT
 	  	 19
 
	 
	 SECTION 8.1.
 	  	 Termination of Trust Agreement
 	  	 19
 
	 
	 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES
 	  	 20
 
	 
	 SECTION 9.1.
 	  	 Eligibility Requirements for Owner Trustee
 	  	 20
 
	 SECTION 9.2.
 	  	 Resignation or Removal of Owner Trustee
 	  	 20
 
	 SECTION 9.3.
 	  	 Successor Owner Trustee
 	  	 21
 
	 SECTION 9.4.
 	  	 Merger or Consolidation of Owner Trustee
 	  	 21
 
	 SECTION 9.5.
 	  	 Appointment of Co-Trustee or Separate Trustee
 	  	 22
 
	 
	 ARTICLE X. MISCELLANEOUS
 	  	 23
 
	 
	 SECTION 10.1.
 	  	 Supplements and Amendments.
 	  	 23
 
	 SECTION 10.2.
 	  	 No Legal Title to Owner Trust Estate in Certificateholder
 	  	 24
 
	 SECTION 10.3.
 	  	 Limitations on Rights of Others
 	  	 24
 
	 SECTION 10.4.
 	  	 Notices.
 	  	 24
 
	 SECTION 10.5.
 	  	 Severability
 	  	 25
 
	 SECTION 10.6.
 	  	 Separate Counterparts
 	  	 25
 
	 SECTION 10.7.
 	  	 Assignments; Security Insurer
 	  	 25
 
	 SECTION 10.8.
 	  	 No Recourse
 	  	 25
 
	 SECTION 10.9.
 	  	 Headings
 	  	 25
 
	 SECTION 10.10.
 	  	 GOVERNING LAW
 	  	 26
 
	 SECTION 10.11.
 	  	 Servicer
 	  	 26
 

 
  
 EXHIBITS 
  
 
	 
	 EXHIBIT A
 	  	 FORM OF CERTIFICATE
 
	 
	 EXHIBIT B
 	  	 FORM OF CERTIFICATE OF TRUST

 
 

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 This AMENDED AND RESTATED TRUST AGREEMENT dated as of September 5, 2002 between
AFS FUNDING TRUST, a Delaware statutory trust (the “Seller”), and DEUTSCHE BANK TRUST COMPANY DELAWARE, a Delaware banking corporation, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement dated as of
August 20, 2002 between the Seller and the Owner Trustee. 
  
 ARTICLE I. 
  
 Definitions 
  
 SECTION 1.1.    Capitalized Terms.    For all purposes of this Agreement, the following terms shall have the meanings set forth below: 
  
 “AmeriCredit” shall mean AmeriCredit Financial Services, Inc. 
  
 “Agreement” shall mean this Trust Agreement, as the same may be amended and supplemented from time to time. 
  
 “Assignment” means the Assignment dated as of October 19, 1999, by Funding Corp. to the Seller. 
  
 “Basic Documents” shall mean this Agreement, the Certificate of Trust, the Sale and Servicing Agreement, the Spread
Account Agreement, the Spread Account Agreement Supplement, the Insurance Agreement, the Assignment, the Indenture and the other documents and certificates delivered in connection therewith, each of which shall also be an “Underlying
Transaction Document” as defined in the Second Amended and Restated Trust Agreement of the Depositor, dated as of August 15, 2002. 
  
 “Benefit Plan” shall have the meaning assigned to such term in Section 3.9. 
  
 “Certificate” means a trust certificate evidencing the beneficial interest of a Certificateholder in the Trust, substantially in the form of Exhibit A attached hereto. 
  
 “Certificateholder” or “Holder” shall mean the person in whose name a Certificate is registered on the
Certificate Register, initially the Seller. 
  
 “Certificate of Trust” shall mean the Certificate of
Trust in the form of Exhibit B to be filed for the Trust pursuant to Section 3810(a) of the Statutory Trust Statute. 
  
 “Certificate Register” and “Certificate Registrar” shall mean the register mentioned and the registrar appointed pursuant to Section 3.4. 
  
 “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and Treasury Regulations promulgated thereunder. 

 
 “Corporate Trust Office” shall mean, with respect to the Owner Trustee, the principal corporate trust office
of the Owner Trustee located at E.A. Delle Donne Corporate Center, Montgomery Building, 1011 Centre Road, Suite 200, Wilmington, Delaware 19805, with 
 

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 a copy of all notices and other documents to be also furnished to Deutsche Bank Trust Company Americas, 100 Plaza One, Jersey City, New Jersey
07310, Attention: Corporate Trust Agency, Structured Finance, 6th floor, or at such other address as the Owner Trustee may designate by notice to the Depositor, or the principal corporate trust office of any successor Owner Trustee (the address of
which the successor owner trustee will notify the Depositor). 
  
 “Depositor” shall mean the Seller
in its capacity as Depositor hereunder. 
  
 “Distribution Date” shall have the meaning set forth in
the Sale and Servicing Agreement. 
  
 “ERISA” shall have the meaning assigned to such term in
Section 3.9. 
  
 “Expenses” shall have the meaning assigned to such term in Section 7.2.

  
 “Indemnified Parties” shall have the meaning assigned to such term in Section 7.2. 

 
 “Indenture” shall mean the Indenture dated as of September 5, 2002, among the Issuer and JPMorgan Chase Bank,
as Trust Collateral Agent and Trustee, as the same may be amended and supplemented from time to time. 
  
 “Owner Trust Estate” shall mean all right, title and interest of the Trust in and to the property and rights assigned to the Trust pursuant to Article II of the Sale and Servicing Agreement, all funds on deposit from
time to time in the Trust Accounts and all other property of the Trust from time to time, including any rights of the Owner Trustee and the Trust pursuant to the Sale and Servicing Agreement and the Spread Account Agreement. 
  
 “Owner Trustee” shall mean Deutsche Bank Trust Company Delaware, a Delaware banking corporation, not in its individual
capacity but solely as owner trustee under this Agreement, and any successor Owner Trustee hereunder. 
  
 “Record Date” shall mean with respect to any Distribution Date, the close of business on the last Business Day immediately preceding such Distribution Date. 
  
 “Responsible Officer” shall mean, with respect to the Owner Trustee, any officer within the Corporate Trust Administration office of the Owner Trustee with
direct responsibility for the administration of the Trust and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject.

  
 “Sale and Servicing Agreement” shall mean the Sale and Servicing Agreement dated as of September
5, 2002, among the Trust, the Seller, AmeriCredit Financial Services, Inc. and the Trust Collateral Agent, as the same may be amended and supplemented from time to time. 
  
 “Secretary of State” shall mean the Secretary of State of the State of Delaware. 
 

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 “Security Insurer” shall mean Financial Security Assurance Inc.,
or its successor in interest. 
  
 “Spread Account” shall mean the Series Spread Account established
and maintained pursuant to the Spread Account Agreement. 
  
 “Spread Account Agreement” shall mean
the Spread Account Agreement, dated as of December 1, 1994, as amended and restated as of May 11, 1998, as amended as of October 25, 1999, as further amended as of May 22, 2000 and as further amended and restated as of November 29, 2000, and the
Series 2002-D Spread Account Agreement Supplement dated as of September 5, 2002, among AFS Funding Trust, the Security Insurer, and the Trust Collateral Agent, as the same may be amended, supplemented or otherwise modified in accordance with the
terms thereof. 
  
 “Statutory Trust Statute” shall mean Chapter 38 of Title 12 of the Delaware Code,
12 Del. Code § 3801 etseq. as the same may be amended from time to time. 
  
 “Treasury Regulations”
shall mean regulations, including proposed or temporary regulations, promulgated under the Code. References herein to specific provisions of proposed or temporary regulations shall include analogous provisions of final Treasury Regulations or
other successor Treasury Regulations. 
  
 “Trust” shall mean the trust established by this
Agreement. 
  
 “Trust Collateral Agent” shall mean, initially, JPMorgan Chase Bank, in its capacity
as collateral agent, including its successors in interest, until and unless a successor Person shall have become the Trust Collateral Agent pursuant to the Sale and Servicing Agreement, and thereafter “Trust Collateral Agent” shall mean
such successor Person. 
  
 SECTION 1.2.    Other Definitional Provisions. 

 
 (a)    Capitalized terms used herein and not otherwise defined have the meanings assigned to them in the
Sale and Servicing Agreement or, if not defined therein, in the Spread Account Agreement or in the Indenture. 
  
 (b)    All terms defined in this Agreement shall have the defined meanings when used in any certificate or other document made or delivered pursuant hereto unless otherwise defined therein. 

 
 (c)    As used in this Agreement and in any certificate or other document made or delivered pursuant hereto
or thereto, accounting terms not defined in this Agreement or in any such certificate or other document, and accounting terms partly defined in this Agreement or in any such certificate or other document to the extent not defined, shall have the
respective meanings given to them under generally accepted accounting principles as in effect on the date of this Agreement or any such certificate or other document, as applicable. To the extent that the definitions of accounting terms in this
Agreement or in any such certificate or other document are inconsistent with the meanings of such terms under generally accepted accounting principles, 
 

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 the definitions contained in this Agreement or in any such certificate or other document shall control. 
  
 (d)    The words “hereof,” “herein,” “hereunder” and words of similar import when used
in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement; Section and Exhibit references contained in this Agreement are references to Sections and Exhibits in or to this Agreement unless
otherwise specified; and the term “including” shall mean “including without limitation.” 
  
 (e)    The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such terms.

  
 ARTICLE II. 
  
 Organization 
  
 SECTION
2.1.    Name.    There is hereby formed a trust to be known as “AmeriCredit Automobile Receivables Trust 2002-D,” in which name the Owner Trustee may conduct the business of the Trust, make
and execute contracts and other instruments on behalf of the Trust and sue and be sued. 
  
 SECTION
2.2.    Office.    The office of the Trust shall be in care of the Owner Trustee at the Corporate Trust Office or at such other address as the Owner Trustee may designate by written notice to the
Certificateholder. 
  
 SECTION 2.3.    Purposes and Powers.    

  
 (a)    The purpose of the Trust is, and the Trust shall have the power and authority, to
engage in the following activities: 
  
 (i)    to issue the Notes pursuant to the Indenture and
the Certificate pursuant to this Agreement, and to sell the Notes; 
  
 (ii)    with the proceeds
of the sale of the Notes, to fund the Spread Account and to pay the organizational, start-up and transactional expenses of the Trust and to pay the balance to the Depositor pursuant to the Sale and Servicing Agreement; 
  
 (iii)    to assign, grant, transfer, pledge, mortgage and convey the Trust Estate to the Trust Collateral Agent
pursuant to the Indenture for the benefit of the Security Insurer and the Indenture Trustee on behalf of the Noteholders and to hold, manage and distribute to the Certificateholder pursuant to the terms of the Sale and Servicing Agreement any
portion of the Trust Estate released from the Lien of, and remitted to the Trust pursuant to, the Indenture; 
  
 (iv)    to enter into and perform its obligations under the Basic Documents to which it is a party; 
 

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 (v) to engage in those activities, including entering into agreements, that are necessary, suitable or convenient to
accomplish the foregoing or are incidental thereto or connected therewith; and 
  
 (vi) subject to compliance with
the Basic Documents, to engage in such other activities as may be required in connection with conservation of the Owner Trust Estate and the making of distributions to the Certificateholder and the Noteholders. 
  
 The Trust is hereby authorized to engage in the foregoing activities. The Trust shall not engage in any activity other than in connection with the foregoing or
other than as required or authorized by the terms of this Agreement or the Basic Documents. 
  
 SECTION
2.4.    Appointment of Owner Trustee.    The Depositor hereby appoints the Owner Trustee as trustee of the Trust effective as of the date hereof, to have all the rights, powers and duties set forth
herein. 
  
 SECTION 2.5.    Initial Capital Contribution of Trust
Estate.    The Owner Trustee hereby acknowledges receipt in trust from Funding Trust of the sum of $1,000 which contribution shall constitute the initial Owner Trust Estate. Funding Corp. acknowledges that such contribution
has been transferred to, and is being held by, JPMorgan Chase Bank, as agent for the Trust in an account established by JPMorgan Chase Bank, on behalf of the Trust, which contribution shall constitute the initial Trust Estate. The Depositor shall
pay organizational expenses of the Trust as they may arise. 
  
 SECTION 2.6.    Declaration of
Trust.    The Owner Trustee hereby declares that it will hold the Owner Trust Estate in trust upon and subject to the conditions set forth herein for the use and benefit of the Holder, subject to the obligations of the Trust
under the Basic Documents. It is the intention of the parties hereto that the Trust constitute a statutory trust under the Statutory Trust Statute and that this Agreement constitute the governing instrument of such statutory trust. Effective as of
the date hereof, the Owner Trustee shall have all rights, powers and duties set forth herein and to the extent not inconsistent herewith, in the Statutory Trust Statute with respect to accomplishing the purposes of the Trust. The Owner Trustee shall
file the Certificate of Trust with the Secretary of State. 
  
 The Holder shall not have any personal liability for
any liability or obligation of the Trust. 
  
 SECTION 2.7.    Title to Trust Property.

  
 (a)    Legal title to all the Owner Trust Estate shall be vested at all times in the Trust as
a separate legal entity except where applicable law in any jurisdiction requires title to any part of the Owner Trust Estate to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Owner Trustee, a co-trustee
and/or a separate trustee, as the case may be. 
  
 (b)    The Holder shall not have legal title
to any part of the Trust Property. The Holder shall be entitled to receive distributions with respect to its undivided ownership interest therein only in accordance with Article VIII. No transfer, by operation of law or otherwise, of 

 5 

 any right, title or interest by the Certificateholder of its ownership interest in the Owner Trust Estate shall operate to terminate this
Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Trust Property. 
  
 SECTION 2.8.    Situs of Trust.    The Trust will be located and administered in the State of Delaware. All bank accounts maintained by the Owner Trustee
on behalf of the Trust shall be located in the State of Delaware or the State of New York. Payments will be received by the Trust only in Delaware or New York and payments will be made by the Trust only from Delaware or New York. The Trust shall not
have any employees in any state other than Delaware; provided, however, that nothing herein shall restrict or prohibit the Owner Trustee, the Servicer or any agent of the Trust from having employees within or without the State of Delaware. The only
office of the Trust will be at the Corporate Trust Office located in Delaware. 
  
 SECTION
2.9.    Representations and Warranties of the Depositor.    The Depositor makes the following representations and warranties on which the Owner Trustee relies in accepting the Owner Trust Estate in
trust and issuing the Certificate and upon which the Security Insurer relies in issuing the Note Policy. 
  
 (a)    Organization and Good Standing.    The Depositor is duly organized and validly existing as a Delaware statutory trust with power and authority to own its properties and to conduct
its business as such properties are currently owned and such business is presently conducted and is proposed to be conducted pursuant to this Agreement and the Basic Documents. 
  
 (b)    Due Qualification.    It is duly qualified to do business, is in good standing, and has obtained all necessary
licenses and approvals, in all jurisdictions in which the ownership or lease of its property, the conduct of its business and the performance of its obligations under this Agreement and the Basic Documents requires such qualification. 

 
 (c)    Power and Authority.    The Depositor has the power and authority to
execute and deliver this Agreement and to carry out its terms; the Depositor has full power and authority to sell and assign the property to be sold and assigned to and deposited with the Trust and the Depositor has duly authorized such sale and
assignment and deposit to the Trust by all necessary action; and the execution, delivery and performance of this Agreement has been duly authorized by the Depositor by all necessary action. 
  
 (d)    No Consent Required.    No consent, license, approval or authorization or registration or declaration with, any Person
or with any governmental authority, bureau or agency is required in connection with the execution, delivery or performance of this Agreement and the Basic Documents, except for such as have been obtained, effected or made. 
  
 (e)    No Violation.    The consummation of the transactions contemplated by this Agreement
and the fulfillment of the terms hereof do not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under the trust agreement of the Depositor, or any material
indenture, agreement or other instrument to which the Depositor is a party or by which it is bound; nor result in the creation or 
 

 6 

 imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement or other instrument (other than
pursuant to the Basic Documents); nor violate any law or, to the best of the Depositor’s knowledge, any order, rule or regulation applicable to the Depositor of any court or of any Federal or state regulatory body, administrative agency or
other governmental instrumentality having jurisdiction over the Depositor or its properties. 
  
 (f)    No Proceedings.    There are no proceedings or investigations pending or, to its knowledge threatened against it before any court, regulatory body, administrative agency or other
tribunal or governmental instrumentality having jurisdiction over it or its properties (A) asserting the invalidity of this Agreement or any of the Basic Documents, (B) seeking to prevent the issuance of the Certificate or the Notes or the
consummation of any of the transactions contemplated by this Agreement or any of the Basic Documents, (C) seeking any determination or ruling that might materially and adversely affect its performance of its obligations under, or the validity or
enforceability of, this Agreement or any of the Basic Documents, or (D) seeking to adversely affect the federal income tax or other federal, state or local tax attributes of the Certificate. 
  
 SECTION 2.10.    Covenants of the Certificateholder.    The Certificateholder agrees: 
  
 (a)    to be bound by the terms and conditions of the Certificate of which the Holder is the beneficial owner and of
this Agreement, including any supplements or amendments hereto and to perform the obligations of a Holder as set forth therein or herein, in all respects as if it were a signatory hereto. This undertaking is made for the benefit of the Trust, the
Owner Trustee and the Security Insurer; and 
  
 (b)    until the completion of the events
specified in Section 8.1(d), not to, for any reason, institute proceedings for the Trust to be adjudicated a bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against the Trust, or file a petition seeking
or consenting to reorganization or relief under any applicable federal or state law relating to bankruptcy, or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Trust or a
substantial part of its property, or cause or permit the Trust to make any assignment for the benefit of its creditors, or admit in writing its inability to pay its debts generally as they become due, or declare or effect a moratorium on its debt or
take any action in furtherance of any such action. 
  
 SECTION 2.11.    Federal Income Tax
Treatment of the Trust. 
  
 (a)    For so long as the Trust has a single owner for federal
income tax purposes, it will, pursuant to Treasury Regulations promulgated under section 7701 of the Code, be disregarded as an entity distinct from the Certificateholder for all federal income tax purposes. Accordingly, for federal income tax
purposes, the Certificateholder will be treated as (i) owning all assets owned by the Trust, (ii) having incurred all liabilities incurred by the Trust, and (iii) all transactions between the Trust and the Certificateholder will be disregarded.

  
 (b)    Neither the Owner Trustee nor any Certificateholder will, under any circumstances, and
at any time, make an election on IRS Form 8832 or otherwise, to classify the 
 

 7 

 Trust as an association taxable as a corporation for federal, state or any other applicable tax purpose. 
  
 (c) In the event that the Trust has two equity owners for federal income tax purposes, the Trust will be treated as a partnership. At any
such time that the Trust has two equity owners, this Agreement will be amended, in accordance with Section 10.1 herein, and appropriate provisions will be added so as to provide for treatment of the Trust as a partnership. 
  
 SECTION 2.12.    [Reserved] 
  
 ARTICLE III. 
  
 Certificate and Transfer of Interest

  
 SECTION 3.1.    Initial Ownership.    Upon the formation of the
Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Certificate to the initial Certificateholder, the Depositor shall be the sole beneficiary of the Trust. 
  
 SECTION 3.2.    The Certificate.    The Certificate shall be executed on behalf of the
Trust by manual or facsimile signature of an authorized officer of the Owner Trustee. A Certificate bearing the manual or facsimile signatures of individuals who were, at the time when such signatures shall have been affixed, authorized to sign on
behalf of the Trust, shall be validly issued and entitled to the benefit of this Agreement, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the authentication and delivery of such Certificate or
did not hold such offices at the date of authentication and delivery of such Certificate. A transferee of a Certificate shall become a Certificateholder, and shall be entitled to the rights and subject to the obligations of a Certificateholder
hereunder, upon due registration of such Certificate in such transferee’s name pursuant to Section 3.4. 
  
 SECTION 3.3.    Authentication of Certificate.    Concurrently with the sale of the Receivables to the Trust pursuant to the Sale and Servicing Agreement, the Owner Trustee shall cause
the Certificate to be executed on behalf of the Trust, authenticated and delivered to or upon the written order of the Depositor, signed by its chairman of the board, its president or any vice president, its treasurer or any assistant treasurer
without further corporate action by the Depositor, in authorized denominations. No Certificate shall entitle its holder to any benefit under this Agreement, or shall be valid for any purpose, unless there shall appear on such Certificate a
certificate of authentication substantially in the form set forth in Exhibit A, executed by the Owner Trustee or Deutsche Bank Trust Company Americas as the Owner Trustee’s authentication agent, by manual signature; such authentication shall
constitute conclusive evidence that such Certificate shall have been duly authenticated and delivered hereunder. The Certificate shall be dated the date of its authentication. 
  
 SECTION 3.4.    Registration of Transfer and Exchange of Certificate.    The Certificate Registrar shall keep or cause to be
kept, at the office or agency maintained pursuant to Section 3.7, a Certificate Register in which, subject to such reasonable regulations as it may prescribe, the Owner Trustee shall provide for the registration of the Certificate and of transfers
and exchanges of the Certificate as herein provided. Deutsche Bank Trust Company Americas shall be the initial Certificate Registrar. 
 

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 The Certificate Registrar shall provide the Trust Collateral Agent with the name
and address of the Certificateholder on the Closing Date. Upon any transfers of the Certificate, the Certificate Registrar shall notify the Trust Collateral Agent of the name and address of the transferee in writing, by facsimile, on the day of such
transfer. 
  
 Upon surrender for registration of transfer of the Certificate at the office or agency maintained
pursuant to Section 3.7, the Owner Trustee shall execute, authenticate and deliver (or shall cause Deutsche Bank Trust Company Americas as its authenticating agent to authenticate and deliver), in the name of the designated transferee, a new
Certificate dated the date of authentication by the Owner Trustee or any authenticating agent. 
  
 A Certificate
presented or surrendered for registration of transfer or exchange shall be accompanied by a written instrument of transfer in form satisfactory to the Owner Trustee and the Certificate Registrar duly executed by the Certificateholder or his attorney
duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Certificate Registrar, which requirements include membership or participation in the Securities Transfer
Agent’s Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Certificate Registrar in addition to, or in substitution for, STAMP, all in accordance with the Exchange Act.
Each Certificate surrendered for registration of transfer or exchange shall be canceled and subsequently disposed of by the Owner Trustee in accordance with its customary practice. 
  
 No service charge shall be made for any registration of transfer or exchange of the Certificate, but the Owner Trustee or the Certificate Registrar may require payment of a
sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer or exchange of the Certificate. 
  
 SECTION 3.5.    Mutilated, Destroyed, Lost or Stolen Certificates.    If (a) any mutilated Certificate shall be surrendered to the Certificate Registrar, or if the Certificate
Registrar shall receive evidence to its satisfaction of the destruction, loss or theft of any Certificate and (b) there shall be delivered to the Certificate Registrar, the Owner Trustee and (unless an Insurer Default shall have occurred and be
continuing) the Security Insurer, such security or indemnity as may be required by them to save each of them harmless, then in the absence of notice that such Certificate shall have been acquired by a bona fide purchaser, the Owner Trustee on behalf
of the Trust shall execute and the Owner Trustee, or Deutsche Bank Trust Company Americas, as the Owner Trustee’s authenticating agent, shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen
Certificate, a new Certificate of like class, tenor and denomination. In connection with the issuance of any new Certificate under this Section, the Owner Trustee or the Certificate Registrar may require the payment of a sum sufficient to cover any
tax or other governmental charge that may be imposed in connection therewith. Any duplicate Certificate issued pursuant to this Section shall constitute conclusive evidence of an ownership interest in the Trust, as if originally issued, whether or
not the lost, stolen or destroyed Certificate shall be found at any time. 
  
 SECTION
3.6.    Persons Deemed Certificateholders.    Every Person by virtue of becoming a Certificateholder in accordance with this Agreement shall be deemed to be bound by the terms of this Agreement. Prior
to due presentation of the Certificate for registration of 
 

 9 

 transfer, the Owner Trustee, the Certificate Registrar and the Security Insurer and any agent of the Owner Trustee, the Certificate Registrar
and the Security Insurer, may treat the person in whose name any Certificate shall be registered in the Certificate Register as the owner of such Certificate for the purpose of receiving distributions pursuant to the Sale and Servicing Agreement and
for all other purposes whatsoever, and none of the Owner Trustee, the Certificate Registrar or the Security Insurer nor any agent of the Owner Trustee, the Certificate Registrar or the Security Insurer shall be bound by any notice to the contrary.

  
 SECTION 3.7.    Maintenance of Office or Agency.    The Owner
Trustee shall maintain in New York, an office or offices or agency or agencies where the Certificate may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Owner Trustee in respect of the Certificate
and the Basic Documents may be served. The Owner Trustee initially designates Deutsche Bank Trust Company Americas, 100 Plaza One, 6th Floor, Jersey City, New Jersey 07310, as its principal corporate trust office for such purposes. The Owner Trustee
shall give prompt written notice to the Depositor, the Certificateholder and (unless an Insurer Default shall have occurred and be continuing) the Security Insurer of any change in the location of the Certificate Register or any such office or
agency. 
  
 SECTION 3.8.    Disposition in Whole But Not in
Part.    The Certificate may be transferred in whole but not in part. Any attempted transfer of the Certificate that would divide the ownership of the Trust Estate shall be void. The Certificate is only transferable (i) to an
Affiliate of AmeriCredit Corp. whose stock has been pledged to the Security Insurer or (ii) to another entity with the prior written consent of the Security Insurer in its sole discretion. The Owner Trustee shall cause any Certificate issued to
contain a legend stating “THIS CERTIFICATE IS NOT TRANSFERABLE, EXCEPT UNDER THE LIMITED CONDITIONS SPECIFIED IN THE TRUST AGREEMENT.” 
  
 SECTION 3.9.    ERISA Restrictions.    The Certificate may not be acquired by or for the account of (i) an employee benefit plan (as defined in Section
3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”)) that is subject to the provisions of Title I of ERISA, (ii) a plan (as defined in Section 4975(e)(1) of the Code) that is subject to Section 4975 of
the Code, or (iii) any entity whose underlying assets include assets of a plan described in (i) or (ii) above by reason of such plan’s investment in the entity (each, a “Benefit Plan”). By accepting and holding its beneficial
ownership interest in its Certificate, the Holder thereof shall be deemed to have represented and warranted that it is not a Benefit Plan. 
  
 ARTICLE IV. 
  
 Voting Rights and Other Actions 
  
 SECTION 4.1.    Prior Notice to Holder with Respect to Certain Matters.    With respect to
the following matters, the Owner Trustee shall not take action unless at least 30 days before the taking of such action, the Owner Trustee shall have notified the Certificateholder in writing of the proposed action and the Certificateholder shall
not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that the Certificateholder has withheld consent or provided alternative direction: 
 

 10 

  
 (a)    the election by the Trust to file an amendment to the
Certificate of Trust (unless such amendment is required to be filed under the Statutory Trust Statute or unless such amendment would not materially and adversely affect the interests of the Holder); 
  
 (b)    the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder
is required; 
  
 (c)    the amendment of the Indenture by a supplemental indenture in
circumstances where the consent of any Noteholder is not required and such amendment materially adversely affects the interest of the Certificateholder; or 
  
 (d)    except pursuant to Section 12.1(b) of the Sale and Servicing Agreement, the amendment, change or modification of the Sale and Servicing Agreement, except to cure any
ambiguity or defect or to amend or supplement any provision in a manner that would not materially adversely affect the interests of the Certificateholder. 
  
 The Owner Trustee shall notify the Certificateholder in writing of any appointment of a successor Note Registrar or Trust Collateral Agent within five Business Days after receipt of notice thereof. 
  
 SECTION 4.2.    Action by Certificateholder with Respect to Certain Matters.    The Owner
Trustee shall not have the power, except upon the direction of the Certificateholder or the Security Insurer in accordance with the Basic Documents, to (a) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 9.2 thereof or
(b) except as expressly provided in the Basic Documents, sell the Receivables after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the
Certificateholder and the furnishing of indemnification satisfactory to the Owner Trustee by the Certificateholder. 
  
 SECTION 4.3.    Restrictions on Certificateholder’s Power. 
  
 (a)    The Certificateholder shall not direct the Owner Trustee to take or refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this
Agreement or any of the Basic Documents or would be contrary to Section 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given. 
  
 (b)    The Certificateholder shall not have any right by virtue or by availing itself of any provisions of this Agreement to institute any suit, action, or proceeding in equity or
at law upon or under or with respect to this Agreement or any Basic Document, unless the Certificateholder is the Instructing Party pursuant to Section 5.3 and unless the Certificateholder previously shall have given to the Owner Trustee a written
notice of default and of the continuance thereof, as provided in this Agreement, and also unless Certificateholder shall have made written request upon the Owner Trustee to institute such action, suit or proceeding in its own name as Owner Trustee
under this Agreement and shall have offered to the Owner Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby, and the Owner Trustee, for 30 days after its receipt of such
notice, request, and offer of indemnity, shall have neglected or refused to institute any such action, suit, or proceeding, and during such 30-day period no request or waiver inconsistent with such written 
 

 11 

 request has been given to the Owner Trustee pursuant to and in compliance with this Section or Section 5.3. For the protection and enforcement
of the provisions of this Section, the Certificateholder and the Owner Trustee shall be entitled to such relief as can be given either at law or in equity. 
  
 SECTION 4.4.    Rights of Security Insurer.    Notwithstanding anything to the contrary in the Basic Documents, without the prior written consent of the
Security Insurer (so long as no Insurer Default shall have occurred and be continuing), the Owner Trustee shall not (i) remove the Servicer, (ii) initiate any claim, suit or proceeding by the Trust or compromise any claim, suit or proceeding brought
by or against the Trust, other than with respect to the enforcement of any Receivable or any rights of the Trust thereunder, (iii) authorize the merger or consolidation of the Trust with or into any other statutory trust or other entity (other than
in accordance with Section 3.10 of the Indenture) or (iv) amend the Certificate of Trust. 
  
  
 ARTICLE V.     
  
 Authority and Duties of Owner Trustee 

 
 SECTION 5.1.    General Authority. 
  
 (a)    The Owner Trustee is authorized and directed to execute and deliver the Basic Documents to which the Trust is named as a party and each
certificate or other document attached as an exhibit to or contemplated by the Basic Documents to which the Trust is named as a party and any amendment thereto, in each case, in such form as the Depositor shall approve as evidenced conclusively by
the Owner Trustee’s execution thereof, and on behalf of the Trust, to direct the Indenture Trustee to authenticate and deliver Class A-1 Notes in the aggregate principal amount of $111,000,000, Class A-2 Notes in the aggregate principal amount
of $153,000,000, Class A-3 Notes in the aggregate principal amount of $194,000,000 and Class A-4 Notes in the aggregate principal amount of $142,000,000. In addition to the foregoing, the Owner Trustee is authorized, but shall not be obligated, to
take all actions required of the Trust pursuant to the Basic Documents. The Owner Trustee is further authorized from time to time to take such action as the Instructing Party recommends with respect to the Basic Documents so long as such activities
are consistent with the terms of the Basic Documents. 
  
 (b)    The Owner Trustee shall sign on
behalf of the Trust any applicable tax returns of the Trust, unless applicable law requires a Certificateholder to sign such documents. 
  
 SECTION 5.2.    General Duties.    It shall be the duty of the Owner Trustee to discharge (or cause to be discharged) all of its responsibilities pursuant to the terms of this
Agreement and the Sale and Servicing Agreement and to administer the Trust in the interest of the Holder, subject to the Basic Documents and in accordance with the provisions of this Agreement. Notwithstanding the foregoing, the Owner Trustee shall
be deemed to have discharged its duties and responsibilities hereunder and under the Basic Documents to the extent the Servicer has agreed in the Sale and Servicing Agreement to perform any act or to discharge any duty of the Trust or the Owner
Trustee hereunder or under any Basic Document, and the Owner Trustee shall not be liable for the default or failure of the Servicer to carry out its obligations under the Sale and Servicing Agreement. 
 

 12 

  
 SECTION 5.3.    Action upon Instruction. 

 
 (a)    Subject to Article IV and the terms of the Spread Account Agreement, the Security Insurer (so long
as an Insurer Default shall not have occurred and be continuing) or the Certificateholder (if an Insurer Default shall have occurred and be continuing) (the “Instructing Party”) shall have the exclusive right to direct the actions
of the Owner Trustee in the management of the Trust, so long as such instructions are not inconsistent with the express terms set forth herein or in any Basic Document. The Instructing Party shall not instruct the Owner Trustee in a manner
inconsistent with this Agreement or the Basic Documents. 
  
 (b)    The Owner Trustee shall not
be required to take any action hereunder or under any Basic Document if the Owner Trustee shall have reasonably determined, or shall have been advised by counsel, that such action is likely to result in liability on the part of the Owner Trustee or
is contrary to the terms hereof or of any Basic Document or is otherwise contrary to law. 
  
 (c)    Whenever the Owner Trustee is unable to decide between alternative courses of action permitted or required by the terms of this Agreement or any Basic Document, the Owner Trustee shall promptly give notice
(in such form as shall be appropriate under the circumstances) to the Instructing Party requesting instruction as to the course of action to be adopted, and to the extent the Owner Trustee acts in good faith in accordance with any written
instruction of the Instructing Party received, the Owner Trustee shall not be liable on account of such action to any Person. If the Owner Trustee shall not have received appropriate instruction within ten days of such notice (or within such shorter
period of time as reasonably may be specified in such notice or may be necessary under the circumstances) it may, but shall be under no duty to, take or refrain from taking such action, not inconsistent with this Agreement or the Basic Documents, as
it shall deem to be in the best interests of the Certificateholder, and shall have no liability to any Person for such action or inaction. 
  
 (d)    In the event that the Owner Trustee is unsure as to the application of any provision of this Agreement or any Basic Document or any such provision is ambiguous as to its application, or is, or
appears to be, in conflict with any other applicable provision, or in the event that this Agreement permits any determination by the Owner Trustee or is silent or is incomplete as to the course of action that the Owner Trustee is required to take
with respect to a particular set of facts, the Owner Trustee may give notice (in such form as shall be appropriate under the circumstances) to the Instructing Party requesting instruction and, to the extent that the Owner Trustee acts or refrains
from acting in good faith in accordance with any such instruction received, the Owner Trustee shall not be liable, on account of such action or inaction, to any Person. If the Owner Trustee shall not have received appropriate instruction within 10
days of such notice (or within such shorter period of time as reasonably may be specified in such notice or may be necessary under the circumstances) it may, but shall be under no duty to, take or refrain from taking such action, not inconsistent
with this Agreement or the Basic Documents, as it shall deem to be in the best interests of the Certificateholder, and shall have no liability to any Person for such action or inaction. 
  
 SECTION 5.4.    No Duties Except as Specified in this Agreement or in Instructions.    The Owner Trustee shall not have any
duty or obligation to manage, make any 
 

 13 

 payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from
taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner
Trustee pursuant to Section 5.3; and no implied duties or obligations shall be read into this Agreement or any Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation
statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare or file any Commission filing (including any filings required pursuant to the
Sarbanes-Oxley Act of 2002 or any rule or regulation promulgated thereunder) for the Trust or to record this Agreement or any Basic Document. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action
as may be necessary to discharge any Liens on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee (solely in its individual capacity) and that are not related to the ownership or the administration of
the Owner Trust Estate. 
  
 SECTION 5.5.    No Action Except under Specified Documents or
Instructions.    The Owner Trustee shall not manage, control, use, sell, dispose of or otherwise deal with any part of the Owner Trust Estate except (i) in accordance with the powers granted to and the authority conferred
upon the Owner Trustee pursuant to this Agreement, (ii) in accordance with the Basic Documents and (iii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 5.3. 
  
 SECTION 5.6.    Restrictions.    The Owner Trustee shall not take any action (a) that is
inconsistent with the purposes of the Trust set forth in Section 2.3 or (b) that, to the actual knowledge of the Owner Trustee, would result in the Trust’s becoming taxable as a corporation for Federal income tax purposes. The Certificateholder
shall not direct the Owner Trustee to take action that would violate the provisions of this Section. 
  
  
 ARTICLE VI. 
  
 Concerning the Owner Trustee 
  
 SECTION 6.1.    Acceptance of Trusts and Duties.    The Owner Trustee accepts the trusts
hereby created and agrees to perform its duties hereunder with respect to such trusts but only upon the terms of this Agreement. The Owner Trustee also agrees to disburse all moneys actually received by it constituting part of the Owner Trust Estate
upon the terms of the Basic Documents and this Agreement. The Owner Trustee shall not be answerable or accountable hereunder or under any Basic Document under any circumstances, except (i) for its own willful misconduct, bad faith or negligence,
(ii) in the case of the inaccuracy of any representation or warranty contained in Section 6.3 expressly made by the Owner Trustee, (iii) for liabilities arising from the failure of the Owner Trustee to perform obligations expressly undertaken by it
in the last sentence of Section 5.4 hereof, (iv) for any investments issued by the Owner Trustee or any branch or affiliate thereof in its commercial capacity or (v) for taxes, fees or other charges on, based on or measured by, any fees, commissions
or compensation received by the Owner Trustee. In particular, but not by way of limitation (and subject to the exceptions set forth in the preceding sentence): 
 

 14 

  
 (a)    the Owner Trustee shall not be liable for any error of
judgment made by a Responsible Officer of the Owner Trustee; 
  
 (b)    the Owner Trustee shall
not be liable with respect to any action taken or omitted to be taken by it in accordance with the instructions of the Instructing Party, the Servicer or the Certificateholder; 
  
 (c)    no provision of this Agreement or any Basic Document shall require the Owner Trustee to expend or risk funds or otherwise incur any financial
liability in the performance of any of its rights or powers hereunder or under any Basic Document if the Owner Trustee shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is
not reasonably assured or provided to it; 
  
 (d)    under no circumstances shall the Owner
Trustee be liable for indebtedness evidenced by or arising under any of the Basic Documents, including the principal of and interest on the Notes; 
  
 (e)    the Owner Trustee shall not be responsible for or in respect of the validity or sufficiency of this Agreement or for the due execution hereof by the Depositor or for the
form, character, genuineness, sufficiency, value or validity of any of the Owner Trust Estate or for or in respect of the validity or sufficiency of the Basic Documents, other than the certificate of authentication on the Certificate, and the Owner
Trustee shall in no event assume or incur any liability, duty or obligation to the Security Insurer, Trustee, Trust Collateral Agent, the Collateral Agent, any Noteholder or to any Certificateholder, other than as expressly provided for herein and
in the Basic Documents; 
  
 (f)    the Owner Trustee shall not be liable for the default or
misconduct of the Security Insurer, the Trustee, the Trust Collateral Agent or the Servicer under any of the Basic Documents or otherwise and the Owner Trustee shall have no obligation or liability to perform the obligations under this Agreement or
the Basic Documents that are required to be performed by the Trustee under the Indenture or the Trust Collateral Agent or the Servicer under the Sale and Servicing Agreement; and 
  
 (g)    the Owner Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Agreement, or to institute, conduct
or defend any litigation under this Agreement or otherwise or in relation to this Agreement or any Basic Document, at the request, order or direction of the Instructing Party or the Certificateholder, unless such Instructing Party or
Certificateholder has offered to the Owner Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities that may be incurred by the Owner Trustee therein or thereby. The right of the Owner Trustee to perform any
discretionary act enumerated in this Agreement or in any Basic Document shall not be construed as a duty, and the Owner Trustee shall not be answerable for other than its negligence, bad faith or willful misconduct in the performance of any such
act. 
  
 SECTION 6.2.    Furnishing of Documents.    The Owner Trustee
shall furnish to the Certificateholder promptly upon receipt of a written request therefor, duplicates or copies of 
 

 15 

 
all reports, notices, requests, demands, certificates, financial statements and any other instruments furnished to the Owner Trustee under the Basic Documents. 
  
 SECTION 6.3.    Representations and Warranties.    The Owner Trustee hereby represents and
warrants to the Depositor, the Holder and the Security Insurer (which shall have relied on such representations and warranties in issuing the Note Policy), that: 
  
 (a)    It is a Delaware banking corporation, duly organized and validly existing in good standing under the laws of the State of Delaware. It has all requisite corporate power and
authority to execute, deliver and perform its obligations under this Agreement. 
  
 (b)    It has
taken all corporate action necessary to authorize the execution and delivery by it of this Agreement, and this Agreement will be executed and delivered by one of its officers who is duly authorized to execute and deliver this Agreement on its
behalf. 
  
 (c)    Neither the execution nor the delivery by it of this Agreement, nor the
consummation by it of the transactions contemplated hereby nor compliance by it with any of the terms or provisions hereof will contravene any federal or Delaware state law, governmental rule or regulation governing the banking or trust powers of
the Owner Trustee or any judgment or order binding on it, or constitute any default under its charter documents or by-laws or any indenture, mortgage, contract, agreement or instrument to which it is a party or by which any of its properties may be
bound. 
  
 SECTION 6.4.    Reliance; Advice of Counsel. 
  
 (a)    The Owner Trustee shall incur no liability to anyone in acting upon any signature, instrument, notice,
resolution, request, consent, order, certificate, report, opinion, bond or other document or paper believed by it to be genuine and believed by it to be signed by the proper party or parties. The Owner Trustee may accept a certified copy of a
resolution of the board of directors or other governing body of any corporate party as conclusive evidence that such resolution has been duly adopted by such body and that the same is in full force and effect. As to any fact or matter the method of
the determination of which is not specifically prescribed herein, the Owner Trustee may for all purposes hereof rely on a certificate, signed by the president or any vice president or by the treasurer, secretary or other authorized officers of the
relevant party, as to such fact or matter, and such certificate shall constitute full protection to the Owner Trustee for any action taken or omitted to be taken by it in good faith in reliance thereon. 
  
 (b)    In the exercise or administration of the trusts hereunder and in the performance of its duties and obligations
under this Agreement or the Basic Documents, the Owner Trustee (i) may act directly or through its agents or attorneys pursuant to agreements entered into with any of them, and the Owner Trustee shall not be liable for the conduct or misconduct of
such agents or attorneys if such agents or attorneys shall have been selected by the Owner Trustee with reasonable care, and (ii) may consult with counsel, accountants and other skilled persons to be selected with reasonable care and employed by it.
The Owner Trustee shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the written opinion or advice of any such counsel, accountants or other such persons and according to such opinion not contrary to
this Agreement or any Basic Document. 
 

 16 

  
 SECTION 6.5.    Not Acting in Individual
Capacity.    Except as provided in this Article VI, in accepting the trust hereby created Deutsche Bank Trust Company Delaware acts solely as Owner Trustee hereunder and not in its individual capacity and all Persons having
any claim against the Owner Trustee by reason of the transactions contemplated by this Agreement or any Basic Document shall look only to the Owner Trust Estate for payment or satisfaction thereof. 
  
 SECTION 6.6.    Owner Trustee Not Liable for Certificate or Receivables.    The recitals
contained herein and in the Certificate (other than the signature and countersignature of the Owner Trustee on the Certificate) shall be taken as the statements of the Depositor and the Owner Trustee assumes no responsibility for the correctness
thereof. The Owner Trustee makes no representations as to the validity or sufficiency of this Agreement, of any Basic Document or of the Certificate (other than the signature and countersignature of the Owner Trustee on the Certificate) or the
Notes, or of any Receivable or related documents. The Owner Trustee shall at no time have any responsibility or liability for or with respect to the legality, validity and enforceability of any Receivable, or the perfection and priority of any
security interest created by any Receivable in any Financed Vehicle or the maintenance of any such perfection and priority, or for or with respect to the sufficiency of the Owner Trust Estate or its ability to generate the payments to be distributed
to Certificateholder under this Agreement or the Noteholders under the Indenture, including, without limitation: the existence, condition and ownership of any Financed Vehicle; the existence and enforceability of any insurance thereon; the existence
and contents of any Receivable on any computer or other record thereof; the validity of the assignment of any Receivable to the Trust or of any intervening assignment; the completeness of any Receivable; the performance or enforcement of any
Receivable; the compliance by the Depositor, the Servicer or any other Person with any warranty or representation made under any Basic Document or in any related document or the accuracy of any such warranty or representation or any action of the
Trustee or the Servicer or any subservicer taken in the name of the Owner Trustee. 
  
 SECTION
6.7.    Owner Trustee May Own Notes.    The Owner Trustee in its individual or any other capacity may become the owner or pledgee of the Notes and may deal with the Depositor, the Trustee and the
Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee, including acting as owner trustee of the Depositor. 
  
 SECTION 6.8.    Payments from Owner Trust Estate.    All payments to be made by the Owner Trustee under this Agreement or any of the Basic Documents to
which the Trust or the Owner Trustee is a party shall be made only from the income and proceeds of the Owner Trust Estate and only to the extent that the Owner Trust shall have received income or proceeds from the Owner Trust Estate to make such
payments in accordance with the terms hereof. Deutsche Bank Trust Company Delaware, or any successor thereto, in its individual capacity, shall not be liable for any amounts payable under this Agreement or any of the Basic Documents to which the
Trust or the Owner Trustee is a party. 
  
 SECTION 6.9.    Doing Business in Other
Jurisdictions.    Notwithstanding anything contained herein to the contrary, neither Deutsche Bank Trust Company Delaware or any successor thereto, nor the Owner Trustee shall be required to take any action in any
jurisdiction other than in the State of Delaware if the taking of such action will, even after the
 
 

 17 

 
appointment of a co-trustee or separate trustee in accordance with Section 9.5 hereof, (i) require the consent or approval or authorization or order of or the giving of notice to, or the
registration with or the taking of any other action in respect of, any state or other governmental authority or agency of any jurisdiction other than the State of Delaware; (ii) result in any fee, tax or other governmental charge under the laws of
the State of Delaware becoming payable by Deutsche Bank Trust Company Delaware (or any successor thereto); or (iii) subject Deutsche Bank Trust Company Delaware (or any successor thereto) to personal jurisdiction in any jurisdiction other than the
State of Delaware for causes of action arising from acts unrelated to the consummation of the transactions by Deutsche Bank Trust Company Delaware (or any successor thereto) or the Owner Trustee, as the case may be, contemplated hereby.

  
 ARTICLE VII. 
  
 Compensation of Owner Trustee 
  
 SECTION
7.1.    Owner Trustee’s Fees and Expenses.    The Owner Trustee shall receive as compensation for its services hereunder such fees as have been separately agreed upon before the date hereof between
AmeriCredit and the Owner Trustee, and the Owner Trustee shall be entitled to be reimbursed by the Depositor for its other reasonable expenses hereunder, including the reasonable compensation, expenses and disbursements of such agents,
representatives, experts and counsel as the Owner Trustee may employ in connection with the exercise and performance of its rights and its duties hereunder and under the Basic Documents. AmeriCredit Corp. shall be jointly and severally liable for
the fees and expenses owing to the Owner Trustee under this Section 7.1. 
  
 SECTION
7.2.    Indemnification.    The Depositor shall be liable as primary obligor for, and shall indemnify the Owner Trustee and its officers, directors, successors, assigns, agents and servants
(collectively, the “Indemnified Parties”) from and against, any and all liabilities, obligations, losses, damages, taxes, claims, actions and suits, and any and all reasonable costs, expenses and disbursements (including reasonable
legal fees and expenses) of any kind and nature whatsoever (collectively, “Expenses”) which may at any time be imposed on, incurred by, or asserted against the Owner Trustee or any Indemnified Party in any way relating to or arising
out of this Agreement, the Basic Documents, the Owner Trust Estate, the administration of the Owner Trust Estate or the action or inaction of the Owner Trustee hereunder, except only that the Depositor shall not be liable for or required to
indemnify the Owner Trustee from and against Expenses arising or resulting from any of the matters described in the third sentence of Section 6.1. The indemnities contained in this Section and the rights under Section 7.1 shall survive the
resignation or termination of the Owner Trustee or the termination of this Agreement. In any event of any claim, action or proceeding for which indemnity will be sought pursuant to this Section, the Owner Trustee’s choice of legal counsel shall
be subject to the approval of the Depositor which approval shall not be unreasonably withheld. AmeriCredit Corp. shall be jointly and severally liable for the indemnification duties and obligations of the Depositor which are described in this
Section 7.2. 
  
 SECTION 7.3.    Payments to the Owner Trustee.    Any
amounts paid to the Owner Trustee pursuant to this Article VII shall be deemed not to be a part of the Owner Trust Estate immediately after such payment. 
 

 18 

  
 SECTION 7.4.    Non-recourse
Obligations.    Notwithstanding anything in this Agreement or any Basic Document, the Owner Trustee agrees in its individual capacity and in its capacity as Owner Trustee for the Trust that all obligations of the Trust to the
Owner Trustee individually or as Owner Trustee for the Trust shall be with recourse to the Owner Trust Estate only and specifically shall be without recourse to the assets of the Holder. 
  
 ARTICLE VIII. 
  
 Termination of Trust
Agreement 
  
 SECTION 8.1.    Termination of Trust Agreement. 
  
 (a)    This Agreement and the Trust shall terminate in accordance with Section 3808 of the Statutory Trust Statute and
be of no further force or effect upon the latest of (i) the maturity or other liquidation of the last Receivable (including the purchase by the Servicer at its option or by the Seller at its option of the corpus of the Trust as described in Section
10.1 of the Sale and Servicing Agreement) and the subsequent distribution of amounts in respect of such Receivables as provided in the Basic Documents, or (ii) the payment to the Certificateholder of all amounts required to be paid to it pursuant to
this Agreement and the payment to the Security Insurer of all amounts payable or reimbursable to it pursuant to the Sale and Servicing Agreement; provided, however, that the rights to indemnification under Section 7.2 and the rights under
Section 7.1 shall survive the termination of the Trust. The Seller or the Servicer shall promptly notify the Owner Trustee and the Security Insurer of any prospective termination pursuant to this Section. The bankruptcy, liquidation, dissolution,
death or incapacity of the Certificateholder, shall not (x) operate to terminate this Agreement or the Trust, nor (y) entitle the Certificateholder’s legal representatives or heirs to claim an accounting or to take any action or proceeding in
any court for a partition or winding up of all or any part of the Trust or Owner Trust Estate nor (z) otherwise affect the rights, obligations and liabilities of the parties hereto. 
  
 (b)    Neither the Depositor nor the Certificateholder shall be entitled to revoke or terminate the Trust. 
  
 (c)    Notice of any termination of the Trust, specifying the Distribution Date upon which the Certificateholder shall
surrender the Certificate to the Trust Collateral Agent for payment of the final distribution and cancellation, shall be given by the Owner Trustee by letter to the Certificateholder mailed within five Business Days of receipt of notice of such
termination from the Servicer given pursuant to Section 10.1(c) of the Sale and Servicing Agreement, stating (i) the Distribution Date upon or with respect to which final payment of the Certificate shall be made upon presentation and surrender of
the Certificate at the office of the Trust Collateral Agent therein designated, (ii) the amount of any such final payment, (iii) that the Record Date otherwise applicable to such Distribution Date is not applicable, payments being made only upon
presentation and surrender of the Certificate at the office of the Trust Collateral Agent therein specified and (iv) interest will cease to accrue on the Certificate. The Owner Trustee shall give such notice to the Trust Collateral Agent at the time
such notice is given to the Certificateholder. Upon presentation and surrender of the Certificate, the Trust Collateral Agent shall cause to be distributed to the Certificateholder amounts distributable on such Distribution Date pursuant to Section
5.7 of the Sale and Servicing Agreement. 
 

 19 

  
 In the event that the Certificateholder shall not surrender the Certificate for
cancellation within six months after the date specified in the above mentioned written notice, the Owner Trustee shall give a second written notice to the Certificateholder to surrender the Certificate for cancellation and receive the final
distribution with respect thereto. If within one year after the second notice all the Certificate shall not have been surrendered for cancellation, the Owner Trustee may take appropriate steps, or may appoint an agent to take appropriate steps, to
contact the Certificateholder concerning surrender of its Certificate, and the cost thereof shall be paid out of the funds and other assets that shall remain subject to this Agreement. Any funds remaining in the Trust after exhaustion of such
remedies shall be distributed, subject to applicable escheat laws, by the Owner Trustee to the Holder. 
  
 (d)    Upon the completion of the winding up of the Trust in accordance with Section 3808 of the Statutory Trust Statute and its termination, the Owner Trustee shall cause the Certificate of Trust to be canceled
by filing a certificate of cancellation with the Secretary of State in accordance with the provisions of Section 3810 of the Statutory Trust Statute. 
  
 ARTICLE IX. 
  
 Successor Owner Trustees and Additional Owner
Trustees 
  
 SECTION 9.1.    Eligibility Requirements for Owner
Trustee.    The Owner Trustee shall at all times be a corporation (i) satisfying the provisions of Section 3807(a) of the Statutory Trust Statute; (ii) authorized to exercise corporate trust powers; (iii) having a combined
capital and surplus of at least $50,000,000 and subject to supervision or examination by Federal or State authorities; and (iv) acceptable to the Security Insurer in its sole discretion, so long as an Insurer Default shall not have occurred and be
continuing. If such corporation shall publish reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this Section, the combined capital and surplus
of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Owner Trustee shall cease to be eligible in accordance with the provisions of this
Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 9.2. 
  
 SECTION 9.2.    Resignation or Removal of Owner Trustee.    The Owner Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to
the Depositor, the Security Insurer and the Servicer. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Owner Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to
the resigning Owner Trustee and one copy to the successor Owner Trustee, provided that the Depositor shall have received written confirmation from each of the Rating Agencies that the proposed appointment will not result in an increased capital
charge to the Security Insurer by either of the Rating Agencies. If no successor Owner Trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Owner Trustee or
the Security Insurer may petition any court of competent jurisdiction for the appointment of a successor Owner Trustee. 
 

 20 

  
 If at any time the Owner Trustee shall cease to be eligible in accordance with
the provisions of Section 9.1 and shall fail to resign after written request therefor by the Depositor, or if at any time the Owner Trustee shall be legally unable to act, or shall be adjudged bankrupt or insolvent, or a receiver of the Owner
Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Owner Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor with the consent
of the Security Insurer (so long as an Insurer Default shall not have occurred and be continuing) may remove the Owner Trustee. If the Depositor shall remove the Owner Trustee under the authority of the immediately preceding sentence, the Depositor
shall promptly appoint a successor Owner Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Owner Trustee so removed, one copy to the Security Insurer and one copy to the successor Owner
Trustee and payment of all fees owed to the outgoing Owner Trustee. 
  
 Any resignation or removal of the Owner
Trustee and appointment of a successor Owner Trustee pursuant to any of the provisions of this Section shall not become effective until acceptance of appointment by the successor Owner Trustee pursuant to Section 9.3 and payment of all fees and
expenses owed to the outgoing Owner Trustee. The Depositor shall provide notice of such resignation or removal of the Owner Trustee to each of the Rating Agencies. 
  
 SECTION 9.3.    Successor Owner Trustee.    Any successor Owner Trustee appointed pursuant to Section 9.2 shall execute,
acknowledge and deliver to the Depositor, the Servicer, the Security Insurer and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner
Trustee shall become effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as
if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement; and the Depositor and the
predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and
obligations. 
  
 No successor Owner Trustee shall accept appointment as provided in this Section unless at the time
of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 9.1. 
  
 Upon acceptance of
appointment by a successor Owner Trustee pursuant to this Section, the Servicer shall mail notice of the successor of such Owner Trustee to the Certificateholder, the Trustee, the Noteholders and the Rating Agencies. If the Servicer shall fail to
mail such notice within 10 days after acceptance of appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Servicer. 
  

SECTION 9.4.    Merger or Consolidation of Owner Trustee.    Any corporation into which the Owner Trustee may be merged
or converted or with which it may be consolidated,
 
 

 21 

 
or any corporation resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate
trust business of the Owner Trustee, shall be the successor of the Owner Trustee hereunder, provided such corporation shall be eligible pursuant to Section 9.1, without the execution or filing of any instrument or any further act on the part of any
of the parties hereto, anything herein to the contrary notwithstanding; provided further that the Owner Trustee shall mail notice of such merger or consolidation to the Rating Agencies. 
  
 SECTION 9.5.    Appointment of Co-Trustee or Separate Trustee.    Notwithstanding any other provisions of this Agreement, at
any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Owner Trust Estate or any Financed Vehicle may at the time be located, the Servicer and the Owner Trustee acting jointly shall have the power
and shall execute and deliver all instruments to appoint one or more Persons approved by the Owner Trustee and the Security Insurer to act as co-trustee, jointly with the Owner Trustee, or separate trustee or separate trustees, of all or any part of
the Owner Trust Estate, and to vest in such Person, in such capacity, such title to the Trust, or any part thereof, and, subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Servicer and the
Owner Trustee may consider necessary or desirable. If the Servicer shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, the Owner Trustee subject, unless an Insurer Default shall have occurred and
be continuing, to the approval of the Security Insurer (which approval shall not be unreasonably withheld) shall have the power to make such appointment. No co-trustee or separate trustee under this Agreement shall be required to meet the terms of
eligibility as a successor trustee pursuant to Section 9.1 and no notice of the appointment of any co-trustee or separate trustee shall be required pursuant to Section 9.3. 
  
 Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions: 

 
 (i)    all rights, powers, duties and obligations conferred or imposed upon the Owner
Trustee shall be conferred upon and exercised or performed by the Owner Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Owner
Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed, the Owner Trustee shall be incompetent or unqualified to perform such act or acts, in which event such
rights, powers, duties and obligations (including the holding of title to the Trust or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the
Owner Trustee; 
  
 (ii)    no trustee under this Agreement shall be personally
liable by reason of any act or omission of any other trustee under this Agreement; and 
  
 (iii)    the Servicer and the Owner Trustee acting jointly may at any time accept the resignation of or remove any separate trustee or co-trustee. 
 

 22 

  
 Any notice, request or other writing given to the Owner Trustee shall be deemed
to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Agreement and the conditions of this Article.
Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Owner Trustee or separately, as may be provided
therein, subject to all the provisions of this Agreement, specifically including every provision of this Agreement relating to the conduct of, affecting the liability of, or affording protection to, the Owner Trustee. Each such instrument shall be
filed with the Owner Trustee and a copy thereof given to the Servicer and the Security Insurer. 
  
 Any separate
trustee or co-trustee may at any time appoint the Owner Trustee, its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in its
name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall vest in and be exercised by the Owner Trustee, to the extent permitted by law,
without the appointment of a new or successor trustee. 
  
 ARTICLE X. 
  
 Miscellaneous 
 SECTION
10.1.    Supplements and Amendments. 
  
 (a)    This Agreement may be
amended by the Depositor and the Owner Trustee, with the prior written consent of the Security Insurer (so long as an Insurer Default shall not have occurred and be continuing) and with prior written notice to the Rating Agencies, without the
consent of any of the Noteholders or the Certificateholder, (i) to cure any ambiguity or defect or (ii) to correct, supplement or modify any provisions in this Agreement; provided, however, that such action shall not, as evidenced by
an Opinion of Counsel which may be based upon a certificate of the Servicer, adversely affect in any material respect the interests of any Noteholder or Certificateholder. 
  
 (b)    This Agreement may also be amended from time to time, with the prior written consent of the Security Insurer (so long as an Insurer Default shall
not have occurred and be continuing) by the Depositor and the Owner Trustee, with prior written notice to the Rating Agencies, to the extent such amendment materially and adversely affects the interests of the Noteholders, with the consent of the
Noteholders evidencing not less than a majority of the Outstanding Amount of the Notes, and the consent of the Certificateholder (which consent of any Holder of a Certificate or Note given pursuant to this Section or pursuant to any other provision
of this Agreement shall be conclusive and binding on such Holder) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the
Noteholders or the Certificateholder; provided, however, that, subject to the express rights of the Security Insurer under the Basic Documents, no such amendment shall (a) 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 for the benefit of the Noteholders or the Certificateholder or (b) reduce the aforesaid
 
 

 23 

 percentage of the Outstanding Amount of the Notes and the Certificate Balance required to consent to any such amendment, without the consent of
the Holders of all the outstanding Notes and the Certificateholder. 
  
 Promptly after the execution of any such
amendment or consent, the Owner Trustee shall furnish written notification of the substance of such amendment or consent to the Certificateholder, the Trustee and each of the Rating Agencies. 
  

It shall not be necessary for the consent of Certificateholder, the Noteholders or the Trustee pursuant to this Section to approve the particular form of any proposed
amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining such consents (and any other consents of the Certificateholder provided for in this Agreement or in any other Basic
Document) and of evidencing the authorization of the execution thereof by Certificateholder shall be subject to such reasonable requirements as the Owner Trustee may prescribe. Promptly after the execution of any amendment to the Certificate of
Trust, the Owner Trustee shall cause the filing of such amendment with the Secretary of State. 
  
 Prior to the
execution of any amendment to this Agreement or the Certificate of Trust, the Owner Trustee shall be entitled to receive and rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement
and that all conditions precedent to the execution and delivery of such amendment have been satisfied. The Owner Trustee may, but shall not be obligated to, enter into any such amendment which affects the Owner Trustee’s own rights, duties or
immunities under this Agreement or otherwise. 
  
 SECTION 10.2.    No Legal Title to Owner
Trust Estate in Certificateholder.    The Certificateholder shall not have legal title to any part of the Owner Trust Estate. The Certificateholder shall be entitled to receive distributions in accordance with Article VIII.
No transfer, by operation of law or otherwise, of any right, title or interest of the Certificateholder to and in its ownership interest in the Owner Trust Estate shall operate to terminate this Agreement or the trust hereunder or entitle any
transferee to an accounting or to the transfer to it of legal title to any part of the Owner Trust Estate. 
  
 SECTION 10.3.    Limitations on Rights of Others.    The provisions of this Agreement are solely for the benefit of the Owner Trustee, the Depositor, the Certificateholder, the Servicer
and, to the extent expressly provided herein, the Security Insurer, the Trustee and the Noteholders, and nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or
claim in the Owner Trust Estate or under or in respect of this Agreement or any covenants, conditions or provisions contained herein. 
  
 SECTION 10.4.    Notices. 
  
 (a)    Unless
otherwise expressly specified or permitted by the terms hereof, all notices shall be in writing and shall be deemed given upon receipt personally delivered, delivered by overnight courier or mailed first class mail or certified mail, in each case
return receipt requested, and shall be deemed to have been duly given upon receipt, if to the Owner Trustee, addressed to the Corporate Trust Office; if to the Depositor, addressed to AFS Funding 
 

 24 

 Trust, c/o Deutsche Bank Trust Company Delaware, as Owner Trustee, E.A. Delle Donne Corporate Center, Montgomery Building, 1011 Centre Road,
Suite 200, Wilmington Delaware, 19805-1266, Attention: Corporate Trust, with a copy to AFS Funding Trust, c/o AmeriCredit Financial Services, Inc., as Administrator, 801 Cherry Street, Suite 3900, Fort Worth, Texas 76102, Attention: Chief Financial
Officer; if to the Security Insurer, addressed to Security Insurer, Financial Security Assurance Inc., 350 Park Avenue, New York, NY 10022, Attention: Transaction Oversight Department, Telex No.: (212) 688-3101, Confirmation: (212) 826-0100,
Telecopy Nos.: (212) 339-3518, (212) 339-3529 (in each case in which notice or other communication to Financial Security refers to an Event of Default, a claim on the Note Policy or with respect to which failure on the part of Financial Security to
respond shall be deemed to constitute consent or acceptance, then a copy of such notice or other communication should also be sent to the attention of the General Counsel and the Head-Financial Guaranty Group “URGENT MATERIAL
ENCLOSED”); or, as to each party, at such other address as shall be designated by such party in a written notice to each other party. 
  
 (b)    Any notice required or permitted to be given to a Certificateholder shall be given by first-class mail, postage prepaid, at the address of the Holder. Any notice so mailed
within the time prescribed in this Agreement shall be conclusively presumed to have been duly given, whether or not the Certificateholder receives such notice. 
  
 SECTION 10.5.    Severability.    Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision
in any other jurisdiction. 
  
 SECTION 10.6.    Separate
Counterparts.    This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute but one
and the same instrument. 
  
 SECTION 10.7.    Assignments; Security
Insurer.    This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns. 
  
 SECTION 10.8.    No Recourse.    The Certificateholder by accepting a Certificate acknowledges that the Certificate
represents a beneficial interest in the Trust only and do not represent interests in or obligations of the Seller, the Servicer, the Owner Trustee, the Trustee, the Security Insurer or any Affiliate thereof and no recourse may be had against such
parties or their assets, except as may be expressly set forth or contemplated in this Agreement, the Certificate or the Basic Documents. 
  
 SECTION 10.9.    Headings.    The headings of the various Articles and Sections herein are for convenience of reference only and shall not define or limit any of the terms or
provisions hereof. 
 

 25 

  
 SECTION 10.10.    GOVERNING
LAW.    THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES
HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
  
 SECTION
10.11.    Servicer.    The Servicer is authorized to prepare, or cause to be prepared, execute and deliver on behalf of the Trust all such documents, reports, filings, instruments, certificates and
opinions as it shall be the duty of the Trust or Owner Trustee to prepare, file or deliver pursuant to the Basic Documents. Upon written request, the Owner Trustee shall execute and deliver to the Servicer a limited power of attorney appointing the
Servicer the Trust’s agent and attorney-in-fact to prepare, or cause to be prepared, execute and deliver all such documents, reports, filings, instruments, certificates and opinions. 
  

 
 [Remainder of page intentionally left blank.] 
 

 26 

  
 IN WITNESS WHEREOF, the parties hereto have caused this Trust Agreement to be
duly executed by their respective officers hereunto duly authorized as of the day and year first above written. 
  
 
	 DEUTSCHE BANK TRUST COMPANY DELAWARE, as Owner Trustee
 
	 
	 By:
 	 	 /s/    ELIZABETH B.
FERRY        
 

	  	 	 Name: Elizabeth B. Ferry
 
	  	 	 Title: Assistant Vice President
 

 
  
 
	 AFS FUNDING TRUST,
 
	 
	 By:
 	 	   AMERICREDIT FINANCIAL SERVICES, INC., as Administrator
 

 
 
	 
	 By:
 	 	 /s/    JULIE BORGE        

	  	 	 Name: Julie Borge
 
	  	 	 Title: Vice President, Structured Finance
 

 
  
 ACKNOWLEDGED AND AGREED TO: 
  
 
	  	 	 AMERICREDIT CORP.,
 Solely with respect to Sections 7.1 and 7.2
 
	 
	 By:
 	 	 /s/    BETH
SORENSEN        
 

	  	 	 Name: Beth Sorensen
 
	  	 	 Title: Senior Vice President, Finance
 

 
  
  
 [Amended and Restated Trust
Agreement] 

  
 EXHIBIT A 
  
 NUMBER 
 R-1 
  
  
 SEE REVERSE FOR CERTAIN DEFINITIONS 
  
 THIS CERTIFICATE
IS NOT TRANSFERABLE, 
 EXCEPT UNDER THE LIMITED CONDITIONS 
 SPECIFIED IN THE
TRUST AGREEMENT 
  
 
 
 ASSET BACKED CERTIFICATE

  
 evidencing a beneficial ownership interest in certain distributions of the Trust, as defined below, the property of which includes a
pool of retail installment sale contracts secured by new or used automobiles, vans or light duty trucks and sold to the Trust by AFS Funding Trust 
  
 (This Certificate does not represent an interest in or obligation of AFS Funding Trust or any of its Affiliates, except to the extent described below.) 
  
 THIS CERTIFIES THAT AFS Funding Trust is the registered owner of a nonassessable, fully-paid, beneficial ownership interest in certain distributions of AmeriCredit
Automobile Receivables Trust 2002-D (the “Trust”) formed by AFS Funding Trust, a Delaware statutory trust (the “Seller”). 
  
  

OWNER TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
  
 This is the Certificate referred to in the within-mentioned Trust Agreement. 
  
 
	 DEUTSCHE BANK TRUST COMPANY DELAWARE
 not in its individual
 capacity but solely as
 Owner Trustee            or

 
  
 by:________________________________
 

 

 

 	 	 DEUTSCHE BANK TRUST COMPANY DELAWARE
 not in its individual
 capacity but solely as
 Owner Trustee
  
 By DEUTSCHE BANK TRUST COMPANY AMERICAS
  
 Authenticating Agent
  
 by:________________________________
 

 

  
 The Trust was created pursuant to a Trust Agreement dated as of August 20, 2002,
as amended and restated as of September 5, 2002 (the “Trust Agreement”), between the Seller and Deutsche Bank Trust Company Delaware, as owner trustee (the “Owner Trustee”), a summary of certain of the pertinent
provisions of which is set forth below. To the extent not otherwise defined herein, the capitalized terms used herein have the meanings assigned to them in the Trust Agreement. 
  
 This is the duly authorized Certificate designated as “Asset Backed Certificate” (herein called the “Certificate”). Also issued under the
Indenture, dated as of September 5, 2002, among the Trust, JPMorgan Chase Bank, as trustee and indenture collateral agent, are four classes of Notes designated as “Class A-1 1.755% Asset Backed Notes” (the “Class A-1
Notes”), “Class A-2 2.04% Asset Backed Notes” (the “Class A-2 Notes”), “Class A-3 2.72% Asset Backed Notes” (the “Class A-3 Notes”) and “Class A-4 3.40% Asset Backed
Notes” (the “Class A-4 Notes” and together with the Class A-1 Notes, the Class A-2 Notes, and the Class A-3 Notes, the “Notes”). This Certificate is issued under and is subject to the terms, provisions and
conditions of the Trust Agreement, to which Trust Agreement the holder of this Certificate by virtue of the acceptance hereof assents and by which such holder is bound. The property of the Trust includes a pool of retail installment sale contracts
secured by new and used automobiles, vans or light duty trucks (the “Receivables”), all monies due thereunder on or after Cutoff Date, security interests in the vehicles financed thereby, certain bank accounts and the proceeds
thereof, proceeds from claims on certain insurance policies and certain other rights under the Trust Agreement and the Sale and Servicing Agreement, all right, to and interest of the Seller in and to the Purchase Agreement dated as of September 5,
2002 among AmeriCredit Financial Services, Inc. and the Seller and all proceeds of the foregoing. 
  
 The holder of
this Certificate acknowledges and agrees that its rights to receive distributions in respect of this Certificate are subordinated to the rights of the Noteholders as described in the Sale and Servicing Agreement, the Indenture and the Trust
Agreement, as applicable. 
  
 Distributions on this Certificate will be made as provided in the Trust Agreement by
the Owner Trustee by wire transfer or check mailed to the Certificateholder without the presentation or surrender of this Certificate or the making of any notation hereon. Except as otherwise provided in the Trust Agreement and notwithstanding the
above, the final distribution on this Certificate will be made after due notice by the Owner Trustee of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency maintained for the purpose
by the Owner Trustee in the Borough of Manhattan, The City of New York. 
  
 Reference is hereby made to the further
provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
  
 Unless the certificate of authentication hereon shall have been executed by an authorized officer of the Owner Trustee, by manual signature, this Certificate shall not
entitle the holder hereof to any benefit under the Trust Agreement or the Sale and Servicing Agreement or be valid for any purpose. 
 

 A-2 

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

 A-3 

  
 IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Trust and not in its
individual capacity, has caused this Certificate to be duly executed. 
  
 
	 AMERICREDIT AUTOMOBILE RECEIVABLES
     TRUST
2002-D
 
	 
	 By:
 	  	 DEUTSCHE BANK TRUST COMPANY DELAWARE
 
	  	  	 not in its individual capacity but
 solely as Owner Trustee
 

 
  
 
	 Dated:    September 12, 2002
 	 	 By:
 	 	  
 

 
 

 A-4 

  
 (Reverse of Certificate) 
  
 The Certificate does not represent an obligation of, or an interest in, the Seller, the Servicer, the Owner Trustee or any Affiliates of any of them and no recourse may be
had against such parties or their assets, except as may be expressly set forth or contemplated herein or in the Trust Agreement, the Indenture or the Basic Documents. In addition, this Certificate is not guaranteed by any governmental agency or
instrumentality and is limited in right of payment to certain collections with respect to the Receivables, all as more specifically set forth herein and in the Sale and Servicing Agreement. A copy of each of the Sale and Servicing Agreement and the
Trust Agreement may be examined during normal business hours at the principal office of the Seller, and at such other places, if any, designated by the Seller, by any Certificateholder upon written request. 
  
 The Trust Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and
obligations of the Seller under the Trust Agreement at any time by the Seller and the Owner Trustee with the consent of the Note Majority and the Certificateholder. Any such consent by the Holder of this Certificate shall be conclusive and binding
on such Holder and on all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent is made upon this Certificate. The Trust Agreement
also permits the amendment thereof, in certain limited circumstances, without the consent of the Certificateholder. 
  
 As provided in the Trust Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate Register upon surrender of this Certificate for registration of transfer at
the offices or agencies of the Certificate Registrar maintained by the Owner Trustee in the Borough of Manhattan, The City of New York, accompanied by a written instrument of transfer in form satisfactory to the Owner Trustee and the Certificate
Registrar duly executed by the holder hereof or such holder’s attorney duly authorized in writing, and thereupon a new Certificate evidencing the same aggregate interest in the Trust will be issued to the designated transferee. The initial
Certificate Registrar appointed under the Trust Agreement is Deutsche Bank Trust Company Americas. No service charge will be made for any such registration of transfer or exchange, but the Owner Trustee or the Certificate Registrar may require
payment of a sum sufficient to cover any tax or governmental charge payable in connection therewith. 
  
 The Owner
Trustee, the Security Insurer and any agent of the Owner Trustee or the Security Insurer may treat the person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Owner Trustee, the Security Insurer nor
any such agent shall be affected by any notice to the contrary. 
  
 The obligations and responsibilities created by
the Trust Agreement and the Trust created thereby shall terminate upon the payment to the Certificateholder of all amounts required to be paid to it pursuant to the Trust Agreement and the Sale and Servicing Agreement and the disposition of all
property held as part of the Trust. The Seller or the Servicer of the Receivables may at its option purchase the corpus of the Trust at a price specified in the Sale and Servicing Agreement, and such purchase of the Receivables and other property of
the Trust will effect 
 

 A-5 

 early retirement of the Certificate; however, such right of purchase is exercisable, subject to certain restrictions, only as of the last day of
any Collection Period as of which the Pool Balance is 10% or less of the Original Pool Balance. 
  
 The Certificate
may not be acquired by (a) an employee benefit plan (as defined in Section 3(3) of ERISA) that is subject to the provisions of Title I of ERISA, (b) a plan (as defined in Section 4975(e)(1) of the Code) that is subject to subject to Section 4975 or
(c) any entity whose underlying assets include assets of a plan described in (a) or (b) above by reason of such plan’s investment in the entity (each, a “Benefit Plan”). By accepting and holding this Certificate, the Holder
hereof shall be deemed to have represented and warranted that it is not a Benefit Plan. 
  
 The recitals contained
herein shall be taken as the statements of the Depositor or the Servicer, as the case may be, and the Owner Trustee assumes no responsibility for the correctness thereof. The Owner Trustee makes no representations as to the validity or sufficiency
of this Certificate or of any Receivable or related document. 
  
 Unless the certificate of authentication hereon
shall have been executed by an authorized officer of the Owner Trustee, by manual or facsimile signature, this Certificate shall not entitle the Holder hereof to any benefit under the Trust Agreement or the Sale and Servicing Agreement or be valid
for any purpose. 
 

 A-6 

  
 ASSIGNMENT 
  
 FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto 
  
 PLEASE INSERT SOCIAL SECURITY 
 OR OTHER IDENTIFYING NUMBER 
 OF ASSIGNEE 

 
                                      
                                        
                                        
                                        
                                        
                                        
                     
 (Please print or type name and address, including
postal zip code, of assignee) 
  
                                      
                                        
                                        
                                        
                                        
                                        
                     
 the within Certificate, and all rights thereunder,
hereby irrevocably constituting and appointing 
  
                                      
                                   Attorney to transfer said
Certificate on the books of the Certificate Registrar, with full power of substitution in the premises. 
  
 
	 Dated:
 	    	  	  	                                      
                           *
 
	  	    	  	  	 Signature
 
	  	    	  	  	  
	 Guaranteed:
 	    	  	  	                                      
                           *
 

 
  
 

	*
	 
	NOTICE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Certificate in every
particular, without alteration, enlargement or any change whatever. Such signature must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Certificate Registrar, which requirements include membership or
participation in STAMP or such other “signature guarantee program” as may be determined by the Certificate Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.

 

 

 A-7 

  
 EXHIBIT B 
  
 FORM OF 
  
 CERTIFICATE OF TRUST

  
 OF 
  
 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2002-D 
  
 THIS Certificate of Trust of
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2002-D (the “Trust”) is being duly executed and filed on behalf of the Trust by the undersigned, as trustee, to form a statutory trust under the Delaware Statutory Trust Act (12 Del.
C. § 3801 et seq.) (the “Act”). 
  
 1.    Name.
The name of the statutory trust formed by this Certificate of Trust is “AmeriCredit Automobile Receivables Trust 2002-D.” 
  
 2.    Delaware Trustee. The name and business address of the trustee of the Trust in the State of Delaware is Deutsche Bank Trust Company Delaware, 1011 Centre Road, Suite 200, Wilmington, Delaware
19805-1266. 
  
 3.    Effective Date. This Certificate of Trust shall be effective upon
filing. 
  
 IN WITNESS WHEREOF, the undersigned has duly executed this Certificate of Trust in accordance with
Section 3811(a)(1) of the Act. 
  
 
	 DEUTSCHE BANK TRUST COMPANY
 DELAWARE, not in its
 individual capacity but solely as trustee of the Trust
 
	 
	 By:
 	  	                                      
                                        
             
 
	  	  	 Name:
 
	  	  	 Title:Prepared by R.R. Donnelley Financial -- SALES AND SERVICE AGREEMENT

 Exhibit 4.3 
 Execution Copy

  
 SALE AND SERVICING 
 AGREEMENT

  
 among 
  
 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2002-D, 
  
 Issuer, 
  
 AFS FUNDING TRUST, 
  
 Seller, 
  
 AMERICREDIT FINANCIAL SERVICES, INC., 
  
 Servicer 
  
 and 
  
 JPMORGAN CHASE BANK 
  
 Backup Servicer and Trust Collateral Agent 
  
 Dated as of September 5, 2002 

 TABLE OF CONTENTS 
  
 
	  	  	  	  	 Page
 

	 ARTICLE I Definitions
 	  	 1
 
	 SECTION 1.1.
 	  	 Definitions
 	  	 1
 
	 SECTION 1.2.
 	  	 Other Definitional Provisions
 	  	 20
 
	 
	 ARTICLE II Conveyance of Receivables
 	  	 21
 
	 SECTION 2.1.
 	  	 Conveyance of Receivables
 	  	 21
 
	 SECTION 2.2.
 	  	 [Reserved]
 	  	 22
 
	 SECTION 2.3.
 	  	 Further Encumbrance of Trust Property
 	  	 22
 
	 
	 ARTICLE III The Receivables
 	  	 22
 
	 SECTION 3.1.
 	  	 Representations and Warranties of Seller
 	  	 22
 
	 SECTION 3.2.
 	  	 Repurchase upon Breach
 	  	 23
 
	 SECTION 3.3.
 	  	 Custody of Receivables Files
 	  	 23
 
	 
	 ARTICLE IV Administration and Servicing of Receivables
 	  	 24
 
	 SECTION 4.1.
 	  	 Duties of the Servicer
 	  	 24
 
	 SECTION 4.2.
 	  	 Collection of Receivable Payments; Modifications of Receivables; Lockbox Agreements.
 	  	 26
 
	 SECTION 4.3.
 	  	 Realization upon Receivables
 	  	 28
 
	 SECTION 4.4.
 	  	 Insurance
 	  	 29
 
	 SECTION 4.5.
 	  	 Maintenance of Security Interests in Vehicles
 	  	 31
 
	 SECTION 4.6.
 	  	 Covenants, Representations, and Warranties of Servicer
 	  	 32
 
	 SECTION 4.7.
 	  	 Purchase of Receivables Upon Breach of Covenant
 	  	 32
 
	 SECTION 4.8.
 	  	 Total Servicing Fee; Payment of Certain Expenses by Servicer
 	  	 33
 
	 SECTION 4.9.
 	  	 Preliminary Servicer’s Certificate and Servicer’s Certificate
 	  	 33
 
	 SECTION 4.10.
 	  	 Annual Statement as to Compliance, Notice of Servicer Termination Event
 	  	 34
 
	 SECTION 4.11.
 	  	 Annual Independent Accountants’ Report
 	  	 35
 
	 SECTION 4.12.
 	  	 Access to Certain Documentation and Information Regarding Receivables
 	  	 35
 
	 SECTION 4.13.
 	  	 Monthly Tape
 	  	 35
 
	 SECTION 4.14.
 	  	 Retention and Termination of Servicer
 	  	 36
 
	 SECTION 4.15.
 	  	 Fidelity Bond and Errors and Omissions Policy
 	  	 37
 
	 
	 ARTICLE V Trust Accounts; Distributions; Statements to Noteholders
 	  	 37
 
	 SECTION 5.1.
 	  	 Establishment of Trust Accounts
 	  	 37
 
	 SECTION 5.2.
 	  	 [Reserved]
 	  	 39
 
	 SECTION 5.3.
 	  	 Certain Reimbursements to the Servicer
 	  	 39
 
	 SECTION 5.4.
 	  	 Application of Collections
 	  	 40
 
	 SECTION 5.5.
 	  	 Withdrawals from Spread Account
 	  	 40
 
	 SECTION 5.6.
 	  	 Additional Deposits
 	  	 41
 
	 SECTION 5.7.
 	  	 Distributions
 	  	 41
 
	 SECTION 5.8.
 	  	 Note Distribution Account
 	  	 43
 

 
 

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	 SECTION 5.9.
 	  	 [Reserved]
 	  	 44
 
	 SECTION 5.10.
 	  	 Statements to Noteholders
 	  	 44
 
	 SECTION 5.11.
 	  	 Optional Deposits by the Insurer
 	  	 45
 
	  	  	 [Reserved]
 	  	 45
 
	 
	 ARTICLE VI The Note Policy
 	  	 46
 
	 SECTION 6.1.
 	  	 Claims Under Note Policy.
 	  	 46
 
	 SECTION 6.2.
 	  	 Preference Claims Under Note Policy
 	  	 47
 
	 SECTION 6.3.
 	  	 Surrender of Note Policy
 	  	 48
 
	 
	 ARTICLE VII The Seller
 	  	 48
 
	 SECTION 7.1.
 	  	 Representations of Seller
 	  	 48
 
	 SECTION 7.2.
 	  	 Certain Business Conduct
 	  	 49
 
	 SECTION 7.3.
 	  	 Liability of Seller; Indemnities
 	  	 50
 
	 SECTION 7.4.
 	  	 Merger or Consolidation of, or Assumption of the Obligations of, Seller
 	  	 51
 
	 SECTION 7.5.
 	  	 Limitation on Liability of Seller and Others
 	  	 51
 
	 SECTION 7.6.
 	  	 Ownership of the Certificates or Notes
 	  	 52
 
	 
	 ARTICLE VIII The Servicer
 	  	 52
 
	 SECTION 8.1.
 	  	 Representations of Servicer
 	  	 52
 
	 SECTION 8.2.
 	  	 Liability of Servicer; Indemnities
 	  	 53
 
	 SECTION 8.3.
 	  	 Merger or Consolidation of, or Assumption of the Obligations of the Servicer or Backup Servicer
 	  	 55
 
	 SECTION 8.4.
 	  	 Limitation on Liability of Servicer, Backup Servicer and Others
 	  	 56
 
	 SECTION 8.5.
 	  	 Delegation of Duties
 	  	 57
 
	 SECTION 8.6.
 	  	 Servicer and Backup Servicer Not to Resign
 	  	 57
 
	 
	 ARTICLE IX Default
 	  	 58
 
	 SECTION 9.1.
 	  	 Servicer Termination Event
 	  	 58
 
	 SECTION 9.2.
 	  	 Consequences of a Servicer Termination Event
 	  	 59
 
	 SECTION 9.3.
 	  	 Appointment of Successor
 	  	 60
 
	 SECTION 9.4.
 	  	 Notification to Noteholders
 	  	 61
 
	 SECTION 9.5.
 	  	 Waiver of Past Defaults
 	  	 61
 
	 
	 ARTICLE X Termination
 	  	 62
 
	 SECTION 10.1.
 	  	 Optional Purchase of All Receivables
 	  	 62
 
	 
	 ARTICLE XI Administrative Duties of the Servicer
 	  	 62
 
	 SECTION 11.1.
 	  	 Administrative Duties
 	  	 62
 
	 SECTION 11.2.
 	  	 Records
 	  	 65
 
	 SECTION 11.3.
 	  	 Additional Information to be Furnished to the Issuer
 	  	 65
 
	 
	 ARTICLE XII Miscellaneous Provisions
 	  	 65
 
	 SECTION 12.1.
 	  	 Amendment
 	  	 65
 
	 SECTION 12.2.
 	  	 Protection of Title to Trust
 	  	 66
 
	 SECTION 12.3.
 	  	 Notices
 	  	 68
 

 
 

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	 SECTION 12.4.
 	  	 Assignment
 	  	 69
 
	 
	 SECTION 12.5.
 	  	 Limitations on Rights of Others
 	  	 69
 
	 
	 SECTION 12.6.
 	  	 Severability
 	  	 69
 
	 
	 SECTION 12.7.
 	  	 Separate Counterparts
 	  	 69
 
	 
	 SECTION 12.8.
 	  	 Headings
 	  	 69
 
	 
	 SECTION 12.9.
 	  	 Governing Law
 	  	 69
 
	 
	 SECTION 12.10.
 	  	 Assignment to Trustee
 	  	 70
 
	 
	 SECTION 12.11.
 	  	 Nonpetition Covenants
 	  	 70
 
	 
	 SECTION 12.12.
 	  	 Limitation of Liability of Owner Trustee and Trustee
 	  	 70
 
	 
	 SECTION 12.13.
 	  	 Independence of the Servicer
 	  	 71
 
	 
	 SECTION 12.14.
 	  	 No Joint Venture
 	  	 71
 
	 
	 SECTION 12.15.
 	  	 [Reserved]
 	  	 71
 

 
  
 
	 
	 SCHEDULES
 
	 
	 Schedule A
 	  	 Schedule of Receivables
 
	 
	 Schedule B
 	  	 Representations and Warranties of the Seller and the Servicer
 
	 
	 Schedule C
 	  	 Servicing Policies and Procedures
 

 
  
 
	 
	 EXHIBITS
 
	 
	 Exhibit A
 	  	 Form of Servicer’s Certificate
 
	 
	 Exhibit B
 	  	 Form of Preliminary Servicer’s Certificate
 

 
 

 iii 

  
 SALE AND SERVICING AGREEMENT dated as of September 5, 2002, among AMERICREDIT
AUTOMOBILE RECEIVABLES TRUST 2002-D, a Delaware statutory trust (the “Issuer”), AFS FUNDING TRUST, a Delaware statutory trust (the “Seller”), AMERICREDIT FINANCIAL SERVICES, INC., a Delaware corporation (the
“Servicer”), and JPMORGAN CHASE BANK, a New York banking corporation, in its capacity as Backup Servicer and Trust Collateral Agent. 
  
 WHEREAS the Issuer desires to purchase a portfolio of receivables arising in connection with motor vehicle retail installment sale contracts made by AmeriCredit Financial Services, Inc. or acquired by
AmeriCredit Financial Services, Inc. through motor vehicle dealers and third party lenders; 
  
 WHEREAS the Seller
has purchased such receivables from AmeriCredit Financial Services, Inc. and is willing to sell such receivables to the Issuer; 
  
 WHEREAS the Servicer is willing to service all such receivables; 
  
 NOW, THEREFORE, in consideration
of the premises and the mutual covenants herein contained, the parties hereto agree as follows: 
  
 ARTICLE I

  
 Definitions 
  
 SECTION 1.1.    Definitions.    Whenever used in this Agreement, the following words and phrases shall have the following meanings: 

 
 “Accelerated Payment Amount Shortfall” means, with respect to any Distribution Date, the excess, if
any, of (i) the excess, if any, on such Distribution Date of the Pro Forma Note Balance for such Distribution Date over the Required Pro Forma Note Balance for such Distribution Date over (ii) the excess of amount of Available Funds (but net of any
net Investment Earnings on deposit in the Collection Account) on such Distribution Date over the amounts payable on such Distribution Date pursuant to Section 5.7(a)(i) through (vi). 
  
 “Accelerated Payment Shortfall Notice” means, with respect to any Distribution Date, a written notice specifying the Accelerated Payment Amount
Shortfall for such Distribution Date. 
  
 “Accelerated Payment Termination Date” has the
meaning assigned to such term in the Spread Account Agreement Supplement. 
  
 “Accelerated Principal
Amount” for a Distribution Date will equal the lesser of 
  
 (x) the sum of (i)
excess, if any, of the amount of the total Available Funds on such Distribution Date over the amounts payable on such Distribution Date pursuant to clauses (i) through (vi) of Section 5.7(a) hereof plus (ii) amounts, if any, available in accordance
with the terms of the Spread Account Agreement; and 

 (y) the excess, if any, on such Distribution Date of (i) the Pro Forma Note Balance for such Distribution
Date over (ii) the Required Pro Forma Note Balance for such Distribution Date. 
  
 “Accountants’
Report” means the report of a firm of nationally recognized independent accountants described in Section 4.11. 
  
 “Accounting Date” means, with respect to any Collection Period the last day of such Collection Period. 
  
 “Additional Funds Available” means, with respect to any Insured Distribution Date, the sum of (i) the Deficiency Claim Amount, if any, received by the Trust Collateral Agent
with respect to such Insured Distribution Date plus (ii) the Insurer Optional Deposit, if any, received by the Trust Collateral Agent with respect to such Insured Distribution Date. 
  
 “Administrative Receivable” means, with respect to any Collection Period, a Receivable which the Servicer is required to purchase pursuant to
Section 4.7 or which the Servicer has elected to purchase pursuant to Section 4.4(c) on the Determination Date with respect to such Collection Period. 
  
 “Administrator” means AmeriCredit, in its capacity as Administrator for the Seller pursuant to the Administration Agreement, dated as of August 15, 2002, by and between the
Seller and AmeriCredit. 
  
 “Affiliate” means, with respect to any specified Person, any
other Person controlling or controlled by or under common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means the power to direct the management and policies of such
Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 
  
 “Aggregate Principal Balance” means, with respect to any date of determination, the sum of the Principal Balances
for all Receivables (other than (i) any Receivable that became a Liquidated Receivable prior to the end of the related Collection Period and (ii) any Receivable that became a Purchased Receivable prior to the end of the related Collection Period) as
of the date of determination. 
  
 “Agreement” means this Sale and Servicing Agreement, as the
same may be amended and supplemented from time to time. 
  
 “AmeriCredit” means AmeriCredit
Financial Services, Inc. 
  
 “Amount Financed” means, with respect to a Receivable, the
aggregate amount advanced under such Receivable toward the purchase price of the Financed Vehicle and any related costs, including amounts advanced in respect of accessories, insurance premiums, service and warranty contracts, other items
customarily financed as part of retail automobile installment sale contracts or promissory notes, and related costs. 
 

 2 

  
 “Annual Percentage Rate” or “APR” of a
Receivable means the annual percentage rate of finance charges or service charges, as stated in the related Contract. 
  
 “Assignment” means the Assignment dated as of October 19, 1999, from AFS Funding Corp. to the Seller. 
  
 “Auto Loan Purchase and Sale Agreement” means any agreement between a Third-Party Lender and AmeriCredit relating to the acquisition of Receivables from a Third Party Lender by AmeriCredit. 

 
 “Available Funds” means, with respect to any Distribution Date, the sum of (i) the Collected Funds for the
related Collection Period, (ii) all Purchase Amounts deposited in the Collection Account during the related Collection Period, plus Investment Earnings with respect to the Trust Accounts for the related Collection Period, (iii) following the
acceleration of the Notes pursuant to Section 5.2 of the Indenture, the amount of money or property collected pursuant to Section 5.3 of the Indenture since the preceding Distribution Date by the Trust Collateral Agent or Controlling Party for
distribution pursuant to Section 5.6 and Section 5.8 of the Indenture, (iv) if the Distribution Date which immediately follows such Collection Period immediately precedes the Mandatory Redemption Date and (v) the proceeds of any purchase or sale of
the assets of the Trust described in Section 10.1 hereof. 
  
 “Backup Servicer” means JPMorgan Chase
Bank. 
  
 “Base Servicing Fee” means, with respect to any Collection Period, the fee payable to the
Servicer for services rendered during such Collection Period, which shall be equal to one-twelfth of the Servicing Fee Rate multiplied by the Pool Balance as of the opening of business on the first day of such Collection Period. 

 
 “Basic Documents” means this Agreement, the Certificate of Trust, the Trust Agreement, the Indenture, the
Spread Account Agreement, the Spread Account Agreement Supplement, the Assignment, and other documents and certificates delivered in connection therewith. 
  
 “Business Day” means any day other than a Saturday, a Sunday, legal holiday or other day on which commercial banking institutions located in Wilmington, Delaware, Fort Worth, Texas, or
New York, New York or any other location of any successor Servicer, successor Owner Trustee or successor Trust Collateral Agent are authorized or obligated by law, executive order or governmental decree to be closed. 
  
 “Calculation Date” means the close of business on the last day of each Collection Period. 
  
 “Calendar Quarter” means the three-month period ending on the last day of March, June, September or December.

  
 “Certificate” means the trust certificate evidencing the beneficial interest of the
Certificateholder in the Trust. 
 

 3 

  
 “Certificateholder” means the Person in whose name the
Certificate is registered. 
  
 “Class” means the Class A-1 Notes, the Class A-2 Notes, the Class A-3
Notes or the Class A-4 Notes, as the context requires. 
  
 “Class A-1 Notes” has the meaning
assigned to such term in the Indenture. 
  
 “Class A-2 Notes” has the meaning assigned to such term
in the Indenture. 
  
 “Class A-3 Notes” has the meaning assigned to such term in the Indenture.

  
 “Class A-4 Notes” has the meaning assigned to such term in the Indenture. 

 
 “Closing Date” means September 12, 2002. 
  
 “Collateral Agent” means JPMorgan Chase Bank (formerly known as The Chase Manhattan Bank), in its capacity as Collateral Agent under the Spread Account
Agreement. 
  
 “Collateral Insurance” shall have the meaning set forth in Section 4.4(a).

  
 “Collected Funds” means, with respect to any Collection Period, the amount of funds in the
Collection Account representing collections on the Receivables during such Collection Period, including all Net Liquidation Proceeds collected during such Collection Period (but excluding any Purchase Amounts). 
  
 “Collection Account” means the account designated as such, established and maintained pursuant to Section 5.1.

  
 “Collection Period” means, with respect to the first Distribution Date, the period beginning on
the close of business on September 12, 2002 and ending on the close of business on September 30, 2002. With respect to each subsequent Distribution Date, “Collection Period” means the period beginning on the close of business on the last
day of the immediately preceding Collection Period and ending on the close of business on the last day of the immediately preceding calendar month. Any amount stated “as of the close of business of the last day of a Collection Period”
shall give effect to the following calculations as determined as of the end of the day on such last day: (i) all applications of collections and (ii) all distributions. 
  
 “Collection Records” means all manually prepared or computer generated records relating to collection efforts or payment histories with respect to the
Receivables. 
  
 “Computer Tape” means the computer tapes or other electronic media furnished by AFS
Funding Trust to the Issuer and its assigns describing certain characteristics of the Receivables as of the Cutoff Date. 
  
 “Contract” means a motor vehicle retail installment sale contract. 
 

 4 

  
 “Controlling Party” means the Insurer, so long as no Insurer
Default shall have occurred and be continuing and the Trust Collateral Agent for the benefit of the Noteholders, in the event the Insurer Default shall have occurred and be continuing. 
  
 “Corporate Trust Office” means (i) with respect to the Owner Trustee, the principal corporate trust office of the Owner Trustee, which at the time of
execution of this agreement is E.A. Delle Donne Corporate Center, Montgomery Building, 1011 Centre Road, Suite 200, Wilmington, Delaware 19801, Attention: Corp. Trust Dept., and (ii) with respect to the Trustee, the Trust Collateral Agent, the
Backup Servicer and the Collateral Agent, the principal office thereof at which at any particular time its corporate trust business shall be administered, which at the time of execution of this agreement is 450 West 33rd Street, 14th Floor, New
York, New York 10001, Attention: Institutional Trust Services, AmeriCredit 2002-D. 
  
 “Cram Down
Loss” means, with respect to a Receivable, if a court of appropriate jurisdiction in a proceeding related to an Insolvency Event shall have issued an order reducing the amount owed on a Receivable or otherwise modifying or restructuring the
Scheduled Receivables Payments to be made on a Receivable, an amount equal to (i) the excess of the principal balance of such Receivable immediately prior to such order over the principal balance of such Receivable as so reduced and/or (ii) if such
court shall have issued an order reducing the effective rate of interest on such Receivable, the excess of the principal balance of such Receivable immediately prior to such order over the net present value (using as the discount rate the higher of
the APR on such Receivable or the rate of interest, if any, specified by the court in such order) of the Scheduled Receivables Payments as so modified or restructured. A “Cram Down Loss” shall be deemed to have occurred on the date
of issuance of such order. 
  
 “Custodian” means AmeriCredit and any other Person named from time to
time as custodian in any Custodian Agreement acting as agent for the Trust Collateral Agent, which Person must be acceptable to the Controlling Party (the Custodian as of the Closing Date is acceptable to the Insurer as of the Closing Date).

  
 “Custodian Agreement” means any Custodian Agreement from time to time in effect between the
Custodian named therein and the Trust Collateral Agent, as the same may be amended, supplemented or otherwise modified from time to time in accordance with the terms thereof, which Custodian Agreement and any amendments, supplements or modifications
thereto shall be acceptable to the Controlling Party (the Custodian Agreement which is effective on the Closing Date is acceptable to the Controlling Party). 
  
 “Cutoff Date” means September 5, 2002. 
  
 “Dealer” means a dealer who sold a Financed Vehicle and who originated and assigned the respective Receivable to AmeriCredit under a Dealer Agreement or pursuant to a Dealer Assignment. 
  
 “Dealer Agreement” means any agreement between a Dealer and AmeriCredit relating to the acquisition of Receivables from a
Dealer by AmeriCredit. 
 

 5 

  
 “Dealer Assignment” means, with respect to a Receivable, the
executed assignment executed by a Dealer conveying such Receivable to AmeriCredit. 
  
 “Dealer Underwriting
Guide” means the underwriting manual used by AmeriCredit in the purchase of Receivables as amended from time to time. 
  
 “Deficiency Claim Amount” means with respect to any Determination Date, after taking into account the application on the related Distribution Date of the Available Funds for the related Collection Period, an amount
equal to the sum of, without duplication, (i) any shortfall in the payment of the full amounts described in clauses (i), (ii), (iii) and (v) of Section 5.7(a) herein, (ii) the Noteholders’ Parity Deficit Amount, if any, for such Distribution
Date and (iii) if the related Distribution Date is the Final Scheduled Distribution Date of any Class, any remaining outstanding principal balance of such Class, to the extent that such amount is available on the related Insured Distribution Date in
accordance with the terms of the Spread Account Agreement. 
  
 “Deficiency Claim Date” means, with
respect to any Insured Distribution Date, the fourth Business Day immediately preceding such Insured Distribution Date. 
  
 “Deficiency Notice” shall have the meaning set forth in Section 5.5. 
  
 “Delivery” when used with respect to Trust Account Property means: 
  
 (a) with respect to bankers’ acceptances, commercial paper, negotiable certificates of deposit and other obligations that constitute “instruments” within the meaning of Section 9-102(a)(47) of the UCC and are
susceptible of physical delivery, transfer thereof to the Trust Collateral Agent or its nominee or custodian by physical delivery to the Trust Collateral Agent or its nominee or custodian endorsed to, or registered in the name of, the Trust
Collateral Agent or its nominee or custodian or endorsed in blank, and, with respect to a certificated security (as defined in Section 8-102 of the UCC), transfer thereof (i) by delivery of such certificated security endorsed to, or registered in
the name of, the Trust Collateral Agent or its nominee or custodian or endorsed in blank to a financial intermediary (as defined in Section 8-313 of the UCC) and the making by such financial intermediary of entries on its books and records
identifying such certificated securities as belonging to the Trust Collateral Agent or its nominee or custodian and the sending by such financial intermediary of a confirmation of the purchase of such certificated security by the Trust Collateral
Agent or its nominee or custodian, or (ii) by delivery thereof to a “clearing corporation” (as defined in Section 8-102(3) of the UCC) and the making by such clearing corporation of appropriate entries on its books reducing the appropriate
securities account of the transferor and increasing the appropriate securities account of a financial intermediary by the amount of such certificated security, the identification by the clearing corporation of the certificated securities for the
sole and exclusive account of the financial intermediary, the maintenance of such certificated securities by such clearing corporation or a “custodian bank” (as defined in Section 8-102(4) of the UCC) or the nominee of either subject to
the clearing corporation’s exclusive control, the sending of a confirmation by the financial intermediary of the purchase by the Trust Collateral Agent or its nominee or custodian of 
 

 6 

 
such securities and the making by such financial intermediary of entries on its books and records identifying such certificated securities as belonging to the Trust Collateral Agent or its
nominee or custodian (all of the foregoing, “Physical Property”), and, in any event, any such Physical Property in registered form shall be in the name of the Trust Collateral Agent or its nominee or custodian; and such additional or
alternative procedures as may hereafter become appropriate to effect the complete transfer of ownership of any such Trust Account Property to the Trust Collateral Agent or its nominee or custodian, consistent with changes in applicable law or
regulations or the interpretation thereof; 
  
 (b) with respect to any security issued by the U.S.
Treasury, the Federal Home Loan Mortgage Corporation or by the Federal National Mortgage Association that is a book-entry security held through the Federal Reserve System pursuant to federal book-entry regulations, the following procedures, all in
accordance with applicable law, including applicable Federal regulations and Articles 8 and 9 of the UCC: book-entry registration of such Trust Account Property to an appropriate book-entry account maintained with a Federal Reserve Bank by a
financial intermediary which is also a “depository” pursuant to applicable Federal regulations and issuance by such financial intermediary of a deposit advice or other written confirmation of such book-entry registration to the Trust
Collateral Agent or its nominee or custodian of the purchase by the Trust Collateral Agent or its nominee or custodian of such book-entry securities; the making by such financial intermediary of entries in its books and records identifying such
book-entry security held through the Federal Reserve System pursuant to Federal book-entry regulations as belonging to the Trust Collateral Agent or its nominee or custodian and indicating that such custodian holds such Trust Account Property solely
as agent for the Trust Collateral Agent or its nominee or custodian; and such additional or alternative procedures as may hereafter become appropriate to effect complete transfer of ownership of any such Trust Account Property to the Trust
Collateral Agent or its nominee or custodian, consistent with changes in applicable law or regulations or the interpretation thereof; and 
  
 (c) with respect to any item of Trust Account Property that is an uncertificated security under Article 8 of the UCC and that is not governed by clause (b) above, registration on the books and records
of the issuer thereof in the name of the financial intermediary, the sending of a confirmation by the financial intermediary of the purchase by the Trust Collateral Agent or its nominee or custodian of such uncertificated security, the making by
such financial intermediary of entries on its books and records identifying such uncertificated certificates as belonging to the Trust Collateral Agent or its nominee or custodian. 
  
 “Depositor” shall mean the Seller in its capacity as Depositor under the Trust Agreement. 
  
 “Determination Date” means, with respect to any Collection Period, the earlier of (i) the fourth Business Day preceding the Insured Distribution Date in
the next calendar month, and (ii) the Business Day preceding the Distribution Date in the next calendar month. 
 

 7 

  
 “Distribution Date” means, with respect to each Collection
Period, the sixth day of the following calendar month, or, if such day is not a Business Day, the immediately following Business Day, commencing October 7, 2002. 
  
 “Draw Date” means, with respect to any Insured Distribution Date, the third Business Day immediately preceding such Insured Distribution Date. 
  
 “Electronic Ledger” means the electronic master record of the retail installment sales contracts or installment loans of
the Servicer. 
  
 “Eligible Deposit Account” means a segregated trust account with the corporate
trust department of a depository institution acceptable to the Insurer organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate
trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution have a credit rating from each Rating Agency in one of its generic rating categories which signifies investment
grade. 
  
 “Eligible Investments” mean book-entry securities, negotiable instruments or securities
represented by instruments in bearer or registered form which evidence: 
  
 (a) direct obligations
of, and obligations fully guaranteed as to timely payment by, the United States of America; 
  
 (b)
demand deposits, time deposits or certificates of deposit of any depository institution or trust company incorporated under the laws of the United States of America or any state thereof or the District of Columbia (or any domestic branch of a
foreign bank) and subject to supervision and examination by federal or state banking or depository institution authorities (including depository receipts issued by any such institution or trust company as custodian with respect to any obligation
referred to in clause (a) above or portion of such obligation for the benefit of the holders of such depository receipts); provided, however, that at the time of the investment or contractual commitment to invest therein (which shall be deemed to be
made again each time funds are reinvested following each Distribution Date), the commercial paper or other short-term senior unsecured debt obligations (other than such obligations the rating of which is based on the credit of a Person other than
such depository institution or trust company) of such depository institution or trust company shall have a credit rating from Standard & Poor’s of A-1+ and from Moody’s of Prime-1; 
  

(c) commercial paper and demand notes investing solely in commercial paper having, at the time of the investment or contractual commitment to invest
therein, a rating from Standard & Poor’s of A-1+ and from Moody’s of Prime-1; 
  
 (d)
investments in money market funds (including funds for which the Trust Collateral Agent or the Owner Trustee in each of their individual capacities or any of their respective Affiliates is investment manager, controlling party or advisor) having a
rating from Standard & Poor’s of AAA-m or AAAm-G and from Moody’s of Aaa and having been approved by the Insurer; 
 

 8 

  
 (e) bankers’ acceptances issued by any depository
institution or trust company referred to in clause (b) above; 
  
 (f) repurchase obligations with
respect to any security that is a direct obligation of, or fully guaranteed by, the United States of America or any agency or instrumentality thereof the obligations of which are backed by the full faith and credit of the United States of America,
in either case entered into with a depository institution or trust company (acting as principal) referred to in clause (b) above; 
  
 (g) any other investment which would satisfy the Rating Agency Condition and is consistent with the ratings of the Securities and which, so long as no Insurer Default shall have occurred and be
continuing, has been approved by the Insurer, or any other investment that by its terms converts to cash within a finite period, if the Rating Agency Condition is satisfied with respect thereto; and 
  
 (h) cash denominated in United States dollars. 
  
 Any of the foregoing Eligible Investments may be purchased by or through the Owner Trustee or the Trust Collateral Agent or any of their respective Affiliates.

  
 “FDIC” means the Federal Deposit Insurance Corporation. 
  
 “Final Scheduled Distribution Date” means with respect to (i) the Class A-1 Notes, the October 6, 2003 Insured
Distribution Date, (ii) the Class A-2 Notes, the October 12, 2005 Insured Distribution Date, (iii) the Class A-3 Notes, the April 12, 2007 Insured Distribution Date and (iv) the Class A-4 Notes, the April 13, 2009 Insured Distribution Date.

  
 “Financed Vehicle” means an automobile or light-duty truck, van or minivan, together with all
accessions thereto, securing an Obligor’s indebtedness under the respective Receivable. 
  
 “Fitch” means Fitch Ratings, or its successor. 
  
 “Force-Placed
Insurance” has the meaning ascribed thereto in Section 4.4 hereof. 
  
 “Indenture” means
the Indenture dated as of September 5, 2002, between the Issuer and JPMorgan Chase Bank, as Trust Collateral Agent and Trustee, as the same may be amended and supplemented from time to time. 
  
 “Insolvency Event” means, with respect to a specified Person, (a) the filing of a petition against such Person or the entry of a decree or order for relief
by a court having jurisdiction in the premises in respect of such Person or any substantial part of its property in an involuntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or
appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator, or similar official for such Person or for any substantial part of its property, or ordering the winding-up or liquidation or such Person’s affairs, and such
petition, decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or (b) the commencement by such Person of a voluntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or
hereafter in effect, or the consent by such Person to the entry of an order for relief in an involuntary case under any such law, or the 
 

 9 

 
consent by such Person to the appointment of or taking possession by, a receiver, liquidator, assignee, custodian, trustee, sequestrator, or similar official for such Person or for any
substantial part of its property, or the making by such Person of any general assignment for the benefit of creditors, or the failure by such Person generally to pay its debts as such debts become due, or the taking of action by such Person in
furtherance of any of the foregoing. 
  
 “Insurance Add-On Amount” means the premium charged
to the Obligor in the event that the Servicer obtains Force-Placed Insurance pursuant to Section 4.4. 
  
 “Insurance Agreement” means the Insurance and Indemnity Agreement, dated as of September 5, 2002, among the Insurer, the Trust, the Seller, AmeriCredit Corp. and AmeriCredit. 
  
 “Insurance Agreement Event of Default” means an “Event of Default” as defined in the Insurance Agreement.

  
 “Insurance Policy” means, with respect to a Receivable, any insurance policy (including the
insurance policies described in Section 4.4 hereof) benefiting the holder of the Receivable providing loss or physical damage, credit life, credit disability, theft, mechanical breakdown or similar coverage with respect to the Financed Vehicle or
the Obligor. 
  
 “Insured Distribution Date” means the twelfth day of each month, or, if such
twelfth day is not a Business Day, the next following Business Day, except in the case of the Class A-1 Notes for which the final scheduled distribution date of October 6, 2003 will also be a date on which unpaid principal and interest on the Class
A-1 Notes that are required to be paid will be paid. In the event that, on any Distribution Date, the Noteholders did not receive the full amount of the Scheduled Payment (as defined in the Note Policy) then due to them, such shortfall (together
with, in the case of an interest shortfall, interest thereon at the related Interest Rate) shall be due and payable and shall be funded on the Insured Distribution Date either from the Spread Account or from the proceeds of a drawing under the Note
Policy. The Record Date applicable to an Insured Distribution Date shall be the Record Date applicable to the related Distribution Date. 
  
 “Insurer” means Financial Security Assurance Inc., a monoline insurance company incorporated under the laws of the State of New York, or any successor thereto, as issuer of the Note Policy. 

 
 “Insurer Default” means the occurrence and continuance of any of the following events: 

 
 (a)    the Insurer shall have failed to make a payment required under the Note Policy in
accordance with its terms; 
  
 (b)    the Insurer shall have (i) filed a petition
or commenced any case or proceeding under any provision or chapter of the United States Bankruptcy Code or any other similar federal or state law relating to insolvency, bankruptcy, rehabilitation, liquidation or reorganization, (ii) made a general
assignment for the benefit of its creditors, or (iii) had an order for relief entered against it under the United States
 
 

 10 

 
Bankruptcy Code or any other similar federal or state law relating to insolvency, bankruptcy, rehabilitation, liquidation or reorganization which is final and nonappealable; or 

 
 (c)    a court of competent jurisdiction, the New York Department of Insurance or other
competent regulatory authority shall have entered a final and nonappealable order, judgment or decree (i) appointing a custodian, trustee, agent or receiver for the Insurer or for all or any material portion of its property or (ii) authorizing the
taking of possession by a custodian, trustee, agent or receiver of the Insurer (or the taking of possession of all or any material portion of the property of the Insurer). 
  
 “Insurer Optional Deposit” means, with respect to any Insured Distribution Date, an amount delivered by the Insurer pursuant to Section 5.11, at its sole
option, other than amounts in respect of a Note Policy Claim Amount, to the Trust Collateral Agent for deposit into the Collection Account for any of the following purposes: (i) to provide funds in respect of the payment of fees or expenses of any
provider of services to the Trust with respect to such Insured Distribution Date; or (ii) to include such amount as part of the Distribution Amount for such Insured Distribution Date to the extent that without such amount a draw would be required to
be made on the Note Policy. 
  
 “Interest Period” means, with respect to any Distribution Date, the
period from and including the most recent Distribution Date on which interest has been paid (or in the case of the first Distribution Date, from and including the Closing Date) to, but excluding, the following Distribution Date. In the case of the
first Distribution Date, the Interest Period shall be 25 days for the Class A-1 Notes and 24 days for the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes. 
  
 “Interest Rate” means, with respect to (i) the Class A-1 Notes, 1.755% per annum (computed on the basis of a 360-day year and the actual number of days
elapsed in the applicable Interest Period), (ii) the Class A-2 Notes, 2.04% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months), (iii) the Class A-3 Notes, 2.72% per annum (computed on the basis of a 360-day year
consisting of twelve 30-day months), and (iv) the Class A-4 Notes, 3.40% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months). 
  
 “Investment Earnings” means, with respect to any date of determination and Trust Account, the investment earnings on amounts on deposit in such Trust Account on such date.

  
 “Issuer” means AmeriCredit Automobile Receivables Trust 2002-D. 
  
 “Lien” means a security interest, lien, charge, pledge, equity, or encumbrance of any kind, other than tax liens,
mechanics’ liens and any liens that attach to the respective Receivable by operation of law as a result of any act or omission by the related Obligor. 
  
 “Lien Certificate” means, with respect to a Financed Vehicle, an original certificate of title, certificate of lien or other notification issued by the Registrar of Titles of the
applicable state to a secured party which indicates that the lien of the secured party on the Financed Vehicle is recorded on the original certificate of title. In any jurisdiction in which the
 
 

 11 

 
original certificate of title is required to be given to the Obligor, the term “Lien Certificate” shall mean only a certificate or notification issued to a secured party. 

 
 “Liquidated Receivable” means, with respect to any Collection Period, a Receivable as to which (i) 90 days
have elapsed since the Servicer repossessed the Financed Vehicle provided, however, that in no case shall 5% or more of a Scheduled Receivable Payment have become 210 or more days delinquent in the case of a repossessed Financed Vehicle, (ii) the
Servicer has determined in good faith that all amounts it expects to recover have been received, or (iii) 5% or more of a Scheduled Receivables Payment shall have become 120 or more days delinquent, except in the case of a repossessed Financed
Vehicle. 
  
 “Lockbox Account” means an account maintained on behalf of the Trust Collateral Agent
by the Lockbox Bank pursuant to Section 4.2(d). 
  
 “Lockbox Agreement” means the Tri-Party
Remittance Processing Agreement, dated as of September 5, 2002, by and among AmeriCredit, Bank One, NA and the Trust Collateral Agent, as such agreement may be amended or supplemented from time to time, unless the Trust Collateral Agent shall cease
to be a party thereunder, or such agreement shall be terminated in accordance with its terms, in which event “Lockbox Agreement” shall mean such other agreement, in form and substance acceptable to the Controlling Party, among the
Servicer, the Trust Collateral Agent and the Lockbox Bank. 
  
 “Lockbox Bank” means a depository
institution named by the Servicer and acceptable to the Controlling Party. 
  
 “Monthly Extension Rate”
means, with respect to any Accounting Date, the fraction, expressed as a percentage, the numerator of which is the aggregate Principal Balance of Receivables whose payments are extended during the related Collection Period and the denominator of
which is the aggregate Principal Balance of Receivables as of the immediately preceding Accounting Date. 
  
 “Monthly Records” means all records and data maintained by the Servicer with respect to the Receivables, including the following with respect to each Receivable: the account number; the originating Dealer; Obligor
name; Obligor address; Obligor home phone number; Obligor business phone number; original Principal Balance; original term; Annual Percentage Rate; current Principal Balance; current remaining term; origination date; first payment date; final
scheduled payment date; next payment due date; date of most recent payment; new/used classification; collateral description; days currently delinquent; number of contract extensions (months) to date; amount of Scheduled Receivables Payment; current
Insurance Policy expiration date; and past due late charges. 
  
 “Moody’s” means Moody’s
Investors Service, or its successor. 
  
 “Net Liquidation Proceeds” means, with respect to a
Liquidated Receivable, all amounts realized with respect to such Receivable (other than amounts withdrawn from the Spread Account and drawings under the Note Policy) net of (i) reasonable expenses incurred by the Servicer in connection with the
collection of such Receivable and the repossession and disposition of the Financed Vehicle and (ii) amounts that are required to be refunded to the
 
 

 12 

 
Obligor on such Receivable; provided, however, that the Liquidation Proceeds with respect to any Receivable shall in no event be less than zero. 
  
 “Note Distribution Account” means the account designated as such, established and maintained pursuant to Section 5.1.

  
 “Note Majority” means a majority by principal amount of the Noteholders. 

 
 “Note Policy” means the financial guaranty insurance policy issued by the Insurer to the Trust Collateral
Agent, as agent for the Trustee, for the benefit of the Noteholders. 
  
 “Note Policy Claim Amount”
means, for any Insured Distribution Date, the sum of (x) the excess, if any (without duplication) of (i) the sum of the Noteholders’ Interest Distributable Amount and the Noteholders’ Parity Deficit Amount for the related Distribution
Date, together with, if such related Distribution Date was the Final Scheduled Distribution Date for any Class, the unpaid principal balance of such Class over (ii) the sum of (a) the amount actually deposited into the Note Distribution Account on
such related Distribution Date and (b) the Additional Funds Available, if any, for such Insured Distribution Date plus (y) the Noteholders’ Interest Carryover Amount, if any, which has accrued since the related Distribution Date. 

 
 “Note Pool Factor” for each Class of Notes as of the close of business on any date of determination means a
seven-digit decimal figure equal to the outstanding principal amount of such Class of Notes divided by the original outstanding principal amount of such Class of Notes. 
  
 “Noteholders’ Accelerated Principal Amount” means, with respect to any Distribution Date, the Noteholders’ Percentage of the Accelerated
Principal Amount on such Distribution Date, if any. 
  
 “Noteholders’ Distributable Amount”
means, with respect to any Distribution Date, the sum of the Noteholders’ Principal Distributable Amount and the Noteholders’ Interest Distributable Amount. 
  
 “Noteholders’ Interest Carryover Amount” means, with respect to any Class of Notes and any date of determination, all or any portion of the
Noteholders’ Monthly Interest Distributable Amount for the immediately preceding Distribution Date and any outstanding Noteholders’ Interest Carryover Amount on such immediately preceding Distribution Date, which remains unpaid as of such
date of determination, plus interest on such unpaid amount, to the extent permitted by law, at the respective Interest Rate borne by each Class of Notes from such immediately preceding Distribution Date to but excluding such date of determination.

  
 “Noteholders’ Interest Distributable Amount” means, with respect to any Distribution Date
and Class of Notes, the sum of the Noteholders’ Monthly Interest Distributable Amount for such Distribution Date and Class of Notes and the Noteholders’ Interest Carryover Amount, if any for such Distribution Date and such Class. Interest
on the Class A-1 Notes shall be computed on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period. Interest on the Class A-2 Notes, Class A-3 Notes and Class A-4 Notes shall be computed on the basis of a
360-day year consisting of twelve 30-day months. 
 

 13 

  
 “Noteholders’ Monthly Interest Distributable Amount” means,
with respect to any Distribution Date and any Class of Notes, interest accrued during the applicable Interest Period on the principal amount of the Notes of such Class outstanding as of the end of the prior Distribution Date (or, in the case of the
first Distribution Date, as of the Closing Date); provided, that if such principal balance is further reduced by a payment of principal on the Insured Distribution Date which immediately follows such prior Distribution Date, then such interest shall
accrue (i) from and including such prior Distribution Date to, but excluding, such related Insured Distribution Date, on the principal balance outstanding as of the end of the prior Distribution Date (or, in the case of the first Distribution Date,
as of the Closing Date) and (ii) from and including such Insured Distribution Date, to, but excluding, the following Distribution Date, on the principal balance outstanding as of the end of such Insured Distribution Date, calculated (x) for the
Class A-1 on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period and (y) for the Class A-2, Class A-3 and Class A-4 Notes on the basis of a 360-day year consisting of twelve 30-day months.

  
 “Noteholders’ Monthly Principal Distributable Amount” means, with respect to any
Distribution Date, the Noteholders’ Percentage of the Principal Distributable Amount. 
  
 “Noteholders’ Parity Deficit Amount” means, with respect to any Distribution Date, the excess, if any, of (x) the aggregate remaining principal balance of the Notes outstanding on such Distribution Date, after
giving effect to all reductions in such aggregate principal balance from sources other than (i) the Spread Account and (ii) the Note Policy over (y) the Pool Balance at the end of the prior calendar month. 
  
 “Noteholders’ Percentage” means with respect to any Determination Date (i) relating to a Distribution Date prior to
the Distribution Date on which the principal amount of the Notes is reduced to zero, 100%; (ii) relating to the Distribution Date on which the principal amount of the Notes is reduced to zero, the percentage equivalent of a fraction, the numerator
of which is the outstanding principal balance of the Notes that remain unpaid immediately prior to such Distribution Date, and the denominator of which is the Principal Distributable Amount; and (iii) relating to any other Distribution Date, 0%.

  
 “Noteholders’ Principal Carryover Amount” means, as of any date of determination, all or
any portion of the Noteholders’ Monthly Principal Distributable Amount and any outstanding Noteholders’ Principal Carryover Amount from the preceding Distribution Date which remains unpaid as of such date of determination. 

 
 “Noteholders’ Principal Distributable Amount” means, with respect to any Distribution Date, (other than
the Final Scheduled Distribution Date for any Class of Notes), the sum of the Noteholders’ Monthly Principal Distributable Amount for such Distribution Date and the Noteholders’ Principal Carryover Amount, if any, as of the close of the
preceding Distribution Date. The Noteholders’ Principal Distributable Amount on the Final Scheduled Distribution Date for any Class of Notes will equal the sum of (i) the Noteholders’ Monthly Principal Distributable Amount for such
Distribution Date, (ii) the Noteholders’ Principal Carryover Amount as of the such Distribution Date, and (iii) the excess of the outstanding principal amount of such Class of Notes, if any, over the amounts described in clauses (i) and (ii).

 

 14 

  
 “Noteholders’ Remaining Parity Deficit Amount” means, with
respect to any Distribution Date, the Noteholders’ Parity Deficit Amount for such Distribution Date minus any reduction in the aggregate principal balance of the Notes to be made on the related Insured Distribution Date with funds withdrawn
from the Spread Account. 
  
 “Obligor” on a Receivable means the purchaser or co-purchasers of the
Financed Vehicle and any other Person who owes payments under the Receivable. 
  
 “Officers’
Certificate” means a certificate signed by the chairman of the board, the president, any executive vice president or any vice president, any treasurer, assistant treasurer, secretary or assistant secretary of the Seller or the Servicer, as
appropriate. 
  
 “Opinion of Counsel” means a written opinion of counsel reasonably acceptable to
the Insurer, which opinion is satisfactory in form and substance to the Trust Collateral Agent and, if such opinion or a copy thereof is required by the provisions of this Agreement to be delivered to the Insurer, to the Insurer. 

 
 “Other Conveyed Property” means all property conveyed by the Seller to the Trust pursuant to Section 2.1(b)
through (h) of this Agreement. 
  
 “Owner Trust Estate” has the meaning assigned to such term in the
Trust Agreement. 
  
 “Owner Trustee” means Deutsche Bank Trust Company Delaware, not in its
individual capacity but solely as Owner Trustee under the Trust Agreement, its successors in interest or any successor Owner Trustee under the Trust Agreement. 
  
 “Person” means any individual, corporation, estate, partnership, joint venture, association, joint stock company, trust (including any beneficiary thereof), unincorporated organization
or government or any agency or political subdivision thereof. 
  
 “Physical Property” has the
meaning assigned to such term in the definition of “Delivery” above. 
  
 “Pool Balance”
means, as of any date of determination, the aggregate Principal Balance of the Receivables (excluding Purchased Receivables and Liquidated Receivables). 
  
 “Preliminary Determination Date” means, with respect to any Collection Period, the second Business Day preceding the Distribution Date in the next calendar month. 

 
 “Preliminary Servicer’s Certificate” means an Officers’ Certificate of the Servicer delivered
pursuant to Section 4.9(a), substantially in the form of Exhibit C. 
  
 “Principal Balance” means,
with respect to any Receivable, as of any date, the sum of (x) the Amount Financed minus (i) that portion of all amounts received on or prior to such date and allocable to principal in accordance with the terms of the Receivable and (ii) any Cram
Down Loss in respect of such Receivable plus (y) the accrued and unpaid interest on such Receivable. 
 

 15 

  
 “Principal Distributable Amount” means, with respect to any
Distribution Date, the amount equal to the excess, if any, of (x) the sum of (i) the principal portion of all Collected Funds received during the immediately preceding Collection Period (other than Liquidated Receivables and Purchased Receivables),
(ii) the Principal Balance of all Receivables that became Liquidated Receivables during the related Collection Period (other than Purchased Receivables), (iii) the principal portion of the Purchase Amounts received with respect to all Receivables
that became Purchased Receivables during the related Collection Period, (iv) in the sole discretion of the Insurer, the Principal Balance of all the Receivables that were required to be purchased pursuant to Sections 3.2 and 4.7, during such
Collection Period but were not purchased, (v) the aggregate amount of Cram Down Losses that shall have occurred during the related Collection Period; and (vi) following the acceleration of the Notes pursuant to Section 5.2 of the Indenture, the
amount of money or property collected pursuant to Section 5.4 of the Indenture since the preceding Determination Date by the Trust Collateral Agent or Controlling Party for distribution pursuant to Section 5.7 hereof over (y) the Step-Down Amount,
if any, for such Distribution Date. 
  
 “Pro Forma Note Balance” means, with respect to any
Distribution Date, the aggregate remaining principal balance of the Notes outstanding on such Distribution Date, after giving effect to distributions pursuant to clauses (i) through (iv) of Section 5.7(a) hereof. 
  
 “Purchase Agreement” means the Purchase Agreement among the Seller and AmeriCredit, dated as of September 5, 2002,
pursuant to which the Seller acquired the Receivables, as such Agreement may be amended from time to time. 
  
 “Purchase Amount” means, with respect to a Receivable, the Principal Balance and all accrued and unpaid interest on the Receivable, after giving effect to the receipt of any moneys collected (from whatever source) on
such Receivable, if any. 
  
 “Purchased Receivable” means a Receivable purchased as of the close of
business on the last day of a Collection Period by the Servicer pursuant to Section 4.7 or repurchased by the Seller or the Servicer pursuant to Section 3.2 or Section 10.1(a). 
  
 “Rating Agency” means Moody’s, Standard & Poor’s and Fitch. If no such organization or successor maintains a rating on the Securities,
“Rating Agency” shall be a nationally recognized statistical rating organization or other comparable Person designated by the Seller and acceptable to the Insurer (so long as an Insurer Default shall not have occurred and be continuing),
notice of which designation shall be given to the Trust Collateral Agent, the Owner Trustee and the Servicer. 
  
 “Rating Agency Condition” means, with respect to any action, that each Rating Agency shall have been given 10 days’ (or such shorter period as shall be acceptable to each Rating Agency) prior notice thereof and
that each of the Rating Agencies shall have notified the Seller, the Servicer, the Insurer, the Owner Trustee and the Trust Collateral Agent in writing that such action will not result in a reduction or withdrawal of the then current rating of any
Class of Notes. 
 

 16 

  
 “Realized Losses” means, with respect to any Receivable that
becomes a Liquidated Receivable, the excess of the Principal Balance of such Liquidated Receivable over Net Liquidation Proceeds to the extent allocable to principal. 
  
 “Receivable” means any Contract listed on Schedule A attached hereto (which Schedule may be in the form of microfiche or a disk). 
  
 “Receivables” means any Receivable conveyed to the Trust on the Closing Date. 
  
 “Receivable Files” means the documents specified in Section 3.3. 
  

“Record Date” means, with respect to each Distribution Date, the Business Day immediately preceding such Distribution Date, unless otherwise specified
in the Agreement. The “Record Date” for any Insured Distribution Date shall be the “Record Date” applicable to the related Distribution Date. 
  
 “Registrar of Titles” means, with respect to any state, the governmental agency or body responsible for the registration of, and the issuance of certificates of title relating to,
motor vehicles and liens thereon. 
  
 “Required Pro Forma Note Balance” means, with respect to any
Distribution Date, a dollar amount equal to the product of (x) 91% and (y) the Pool Balance as of the end of the prior calendar month. 
  
 “Requisite Amount” has the meaning specified in the Spread Account Agreement Supplement. 
  
 “Schedule of Receivables” means the schedule of all retail installment sales contracts and promissory notes originally held as part of the Trust which is attached as Schedule A. 
  
 “Schedule of Representations” means the Schedule of Representations and Warranties attached hereto as Schedule B.

  
 “Scheduled Receivables Payment” means, with respect to any Collection Period for any Receivable,
the amount set forth in such Receivable as required to be paid by the Obligor in such Collection Period. If after the Closing Date, the Obligor’s obligation under a Receivable with respect to a Collection Period has been modified so as to
differ from the amount specified in such Receivable as a result of (i) the order of a court in an insolvency proceeding involving the Obligor, (ii) pursuant to the Soldiers’ and Sailors’ Civil Relief Act of 1940 or (iii) modifications or
extensions of the Receivable permitted by Section 4.2(b), the Scheduled Receivables Payment with respect to such Collection Period shall refer to the Obligor’s payment obligation with respect to such Collection Period as so modified.

  
 “Seller” means AFS Funding Trust, a Delaware statutory trust, and its successors in interest to
the extent permitted hereunder. 
 

 17 

  
 “Service Contract” means, with respect to a Financed Vehicle,
the agreement, if any, financed under the related Receivable that provides for the repair of such Financed Vehicle. 
  
 “Servicer” means AmeriCredit Financial Services, Inc., as the servicer of the Receivables, and each successor Servicer pursuant to Section 9.3. 
  
 “Servicer Termination Event” means an event specified in Section 9.1. 
  
 “Servicer’s Certificate” means an Officers’ Certificate of the Servicer delivered pursuant to Section 4.9(b), substantially in the form of
Exhibit B. 
  
 “Servicing Fee” has the meaning specified in Section 4.8. 
  
 “Servicing Fee Rate” means 2.25% per annum. 
  
 “Simple Interest Method” means the method of allocating a fixed level payment on an obligation between principal and interest, pursuant to which the
portion of such payment that is allocated to interest is equal to the product of the fixed rate of interest on such obligation multiplied by the period of time (expressed as a fraction of a year, based on the actual number of days in the calendar
month and 365 days in the calendar year) elapsed since the preceding payment under the obligation was made. 
  
 “Spread Account” means the account designated as such, established and maintained pursuant to the Spread Account Agreement Supplement. 
  
 “Spread Account Agreement” means the Spread Account Agreement dated as of December 1, 1994 as amended and restated as of May 11, 1998 as amended as of
October 25, 1999, as further amended as of May 22, 2000, and as further amended and restated as of November 29, 2000, among the Insurer, the Seller and the Collateral Agent, as the same may be modified, supplemented or otherwise amended in
accordance with the terms thereof. 
  
 “Spread Account Agreement Supplement” means the Series 2002-D
Spread Account Agreement Supplement dated as of September 5, 2002 among the Insurer, AFS Funding Trust and the Collateral Agent, as the same may be modified, supplemented or otherwise amended in accordance with the terms thereof. 

 
 “Spread Account Initial Deposit” means an amount equal to 2.0% of the aggregate principal balance of the
Receivables on the Closing Date (which is equal to $12,158,119.52). 
  
 “Standard & Poor’s”
means Standard & Poor’s, a Division of The McGraw-Hill Companies, Inc., or its successor. 
  
 “Step-Down Amount” means, with respect to any Distribution Date, the excess, if any, of (x) the Required Pro Forma Note Balance over (y) the Pro Forma Note Balance on such Distribution Date, calculated for this
purpose only without deduction for any Step-Down Amount (i.e., assuming that the entire amount described in clause (x) of the definition of “Principal Distributable Amount” is distributed as principal on the Notes). 
 

 18 

  
 “Supplemental Servicing Fee” means, with respect to any
Collection Period, all administrative fees, expenses and charges paid by or on behalf of Obligors, including late fees, prepayment fees and liquidation fees collected on the Receivables during such Collection Period but excluding any fees or
expenses related to extensions. 
  
 “Third-Party Lender” means an entity that originated a loan to a
consumer for the purchase of a motor vehicle and sold the loan to AmeriCredit pursuant to an Auto Loan Purchase and Sale Agreement. 
  
 “Third-Party Lender Assignment” means, with respect to a Receivable, the executed assignment executed by a Third-Party Lender conveying such Receivable to AmeriCredit. 
  
 “Trigger Event” has the meaning assigned thereto in the Spread Account Agreement Supplement. 
  
 “Trust” means the Issuer. 
  
 “Trust Account Property” means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property,
book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing. 
  
 “Trust
Accounts” has the meaning assigned thereto in Section 5.1. 
  
 “Trust Agreement” means the
Trust Agreement dated as of August 20, 2002, between the Seller and the Owner Trustee, as amended and restated as of September 5, 2002, as the same may be amended and supplemented from time to time. 
  
 “Trust Collateral Agent” means the Person acting as Trust Collateral Agent hereunder, its successors in interest and any
successor Trust Collateral Agent hereunder. 
  
 “Trust Officer” means, (i) in the case of the Trust
Collateral Agent, the chairman or vice-chairman of the board of directors, any managing director, the chairman or vice-chairman of the executive committee of the board of directors, the president, any vice president, assistant vice president, the
secretary, any assistant secretary, the treasurer, any assistant treasurer, the cashier, any assistant cashier, any trust officer or assistant trust officer, the controller and any assistant controller or any other officer of the Trust Collateral
Agent customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of such
officer’s knowledge of and familiarity with the particular subject, and (ii) in the case of the Owner Trustee, any officer in the corporate trust office of the Owner Trustee or any agent of the Owner Trustee under a power of attorney with
direct responsibility for the administration of this Agreement or any of the Basic Documents on behalf of the Owner Trustee. 
  
 “Trust Property” means the property and proceeds conveyed pursuant to Section 2.1, together with certain monies paid on or after the Cut-off Date, the Note Policy, the
 
 

 19 

 
Collection Account (including all Eligible Investments therein and all proceeds therefrom), the Lockbox Account and certain other rights under this Agreement. Although the Seller has pledged the
Spread Account to the Trust Collateral Agent and the Insurer pursuant to the Spread Account Agreement, the Spread Account shall not under any circumstances be deemed to be a part of or otherwise includable in the Trust or the Trust Property.

  
 “Trustee” means the Person acting as Trustee under the Indenture, its successors in interest and
any successor trustee under the Indenture. 
  
 “UCC” means the Uniform Commercial Code as in effect
in the relevant jurisdiction on the date of the Agreement. 
  
 SECTION 1.2.    Other
Definitional Provisions. 
  
 (a)    Capitalized terms used herein and not otherwise defined
herein have meanings assigned to them in the Indenture, or, if not defined therein, in the Trust Agreement. 
  
 (b)    All terms defined in this Agreement shall have the defined meanings when used in any instrument governed hereby and in any certificate or other document made or delivered pursuant hereto unless otherwise
defined therein. 
  
 (c)    As used in this Agreement, in any instrument governed hereby and in
any certificate or other document made or delivered pursuant hereto or thereto, accounting terms not defined in this Agreement or in any such instrument, certificate or other document, and accounting terms partly defined in this Agreement or in any
such instrument, certificate or other document to the extent not defined, shall have the respective meanings given to them under generally accepted accounting principles as in effect on the date of this Agreement or any such instrument, certificate
or other document, as applicable. To the extent that the definitions of accounting terms in this Agreement or in any such instrument, certificate or other document are inconsistent with the meanings of such terms under generally accepted accounting
principles, the definitions contained in this Agreement or in any such instrument, certificate or other document shall control. 
  
 (d)    The words “hereof,” “herein,” “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any
particular provision of this Agreement; Section, Schedule and Exhibit references contained in this Agreement are references to Sections, Schedules and Exhibits in or to this Agreement unless otherwise specified; and the term “including”
shall mean “including without limitation.” 
  
 (e)    The definitions contained in this
Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such terms. 
  
 (f)    Any agreement, instrument or statute defined or referred to herein or in any instrument or certificate delivered in connection herewith means
such agreement, instrument or statute as from time to time amended, modified or supplemented and includes (in the case of agreements or instruments) references to all attachments thereto and instruments incorporated therein; references to a Person
are also to its permitted successors and assigns. 
 

 20 

  
 ARTICLE II 
  
 Conveyance of Receivables 
  
 SECTION
2.1.    Conveyance of Receivables.    In consideration of the Issuer’s delivery to or upon the order of the Seller on the Closing Date of the net proceeds from the sale of the Notes and the other
amounts to be distributed from time to time to the Seller in accordance with the terms of this Agreement, the Seller does hereby sell, transfer, assign, set over and otherwise convey to the Issuer, without recourse (subject to the obligations set
forth herein), all right, title and interest of the Seller in and to: 
  
 (a)    the Receivables
and all moneys received thereon after the Cutoff Date; 
  
 (b)    an assignment of 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; 
  
 (c)    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; 
  
 (d)    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 Agreement; 
  
 (e)    all
rights under any Service Contracts on the related Financed Vehicles; 
  
 (f)    the related
Receivables Files; 
  
 (g)    all of the Seller’s right, title and interest in its rights
and benefits, but none of its obligations or burdens, under the Purchase Agreement, including the Seller’s rights under the Purchase Agreement, and the delivery requirements, representations and warranties and the cure and repurchase
obligations of AmeriCredit under the Purchase Agreement; 
  
 (h)    the proceeds of any and all
of the foregoing; 
  
 (i)    all of the Seller’s (a) Accounts, (b) Chattel Paper, (c)
Documents, (d) Instruments and (e) General Intangibles (as such terms are defined in the UCC) relating to the property described in (a) through (h); and 
  
 (j)    all proceeds and investments with respect to items (a) through (i). 
  
 It is the intention of the Seller that the transfer and assignment contemplated by this Agreement shall constitute a sale of the Receivables and other Trust Property from the Seller to the Issuer and
the beneficial interest in and title to the Receivables and the other Trust Property shall not be part of the Seller’s estate in the event of the filing of a bankruptcy petition
 
 

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by or against the Seller under any bankruptcy law. In the event that, notwithstanding the intent of the Seller, the transfer and assignment contemplated hereby is held by a court of competent
jurisdiction not to be a sale, this Agreement shall constitute a grant of a security interest in the property referred to in this Section for the benefit of the Noteholders and the Insurer. 
  
 SECTION 2.2.    [Reserved]. 
  
 SECTION 2.3.    Further Encumbrance of Trust Property. 
  
 (a)    Immediately upon the conveyance to the Trust by the Seller of any item of the Trust Property pursuant to Section 2.1, all right, title and interest of the Seller in and to such item of Trust Property shall
terminate, and all such right, title and interest shall vest in the Trust, in accordance with the Trust Agreement and Sections 3802 and 3805 of the Statutory Trust Statute (as defined in the Trust Agreement). 
  
 (b)    Immediately upon the vesting of the Trust Property in the Trust, the Trust shall have the sole right to pledge
or otherwise encumber, such Trust Property. Pursuant to the Indenture, the Trust shall grant a security interest in the Trust Property to the Trust Collateral Agent securing the repayment of the Notes. The Certificates shall represent the beneficial
ownership interest in the Trust Property, and the Certificateholders shall be entitled to receive distributions with respect thereto as set forth herein. 
  
 (c)    Following the payment in full of the Notes and the release and discharge of the Indenture, all covenants of the Issuer under Article III of the Indenture shall, until payment
in full of the Certificates, remain as covenants of the Issuer for the benefit of the Certificateholders, enforceable by the Certificateholders to the same extent as such covenants were enforceable by the Noteholders prior to the discharge of the
Indenture. Any rights of the Trustee under Article III of the Indenture, following the discharge of the Indenture, shall vest in Certificateholders. 
  
 (d)    The Trust Collateral Agent shall, at such time as there are no Securities outstanding and all sums due to (i) the Trustee pursuant to the Indenture and (ii) the Trust
Collateral Agent pursuant to this Agreement, have been paid, release any remaining portion of the Trust Property to the Seller. 
  
 ARTICLE III 
  
 The Receivables 
  
 SECTION 3.1.    Representations and Warranties of Seller.    The Seller hereby represents and warrants that each of the
representations and warranties set forth on the Schedule of Representations attached hereto as Schedule B is true and correct on which the Issuer is deemed to have relied in acquiring the Receivables and upon which the Insurer shall be deemed to
rely in issuing the Note Policy. Such representations and warranties speak as of the execution and delivery of this Agreement and as of the Closing Date Receivables, but shall survive the sale, transfer and assignment of the Receivables to the
Issuer and the pledge thereof to the Trustee pursuant to the Indenture. 
 

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 SECTION 3.2.    Repurchase upon Breach. 

 
 (a)    The Seller, the Servicer, the Insurer, the Trust Collateral Agent or the Owner Trustee, as the case
may be, shall inform the other parties to this Agreement promptly, notice in writing, upon the discovery of any breach of the Seller’s representations and warranties made pursuant to Section 3.1. As of the last day of the second (or, if the
Seller so elects, the first) month following the discovery by the Seller or receipt by the Seller of notice of such breach, unless such breach is cured by such date, the Seller shall have an obligation to repurchase any Receivable in which the
interests of the Noteholders or the Insurer are materially and adversely affected by any such breach as of such date. The “second month” shall mean the month following the month in which discovery occurs or notice is given, and the
“first month” shall mean the month in which discovery occurs or notice is given. In consideration of and simultaneously with the repurchase of the Receivable, the Seller shall remit, or cause AmeriCredit to remit, to the Collection Account
the Purchase Amount in the manner specified in Section 5.6 and the Issuer shall execute such assignments and other documents reasonably requested by such person in order to effect such repurchase. The sole remedy of the Issuer, the Owner Trustee,
the Trust Collateral Agent, the Trustee or the Noteholders with respect to a breach of representations and warranties pursuant to Section 3.1 and the agreement contained in this Section shall be the repurchase of Receivables pursuant to this
Section, subject to the conditions contained herein or to enforce the obligation of AmeriCredit to the Seller to repurchase such Receivables pursuant to the Purchase Agreement. Neither the Owner Trustee, the Trust Collateral Agent nor the Trustee
shall have a duty to conduct any affirmative investigation as to the occurrence of any conditions requiring the repurchase of any Receivable pursuant to this Section. 
  
 In addition to the foregoing and notwithstanding whether the related Receivable shall have been purchased by the Seller, the Seller shall indemnify the Trust, the Trustee,
the Backup Servicer, the Trust Collateral Agent, Collateral Agent and the officers, directors, agents and employees thereof, the Insurer, and the Noteholders 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 breach. 
  
 (b)    Pursuant to Section 2.1 of this Agreement, the Seller conveyed to the Trust all of the Seller’s right, title and interest in its rights and
benefits, but none of its obligations or burdens, under the Purchase Agreement including the Seller’s rights under the Purchase Agreement and the delivery requirements, representations and warranties and the cure or repurchase obligations of
AmeriCredit thereunder. The Seller hereby represents and warrants to the Trust that such assignment is valid, enforceable and effective to permit the Trust to enforce such obligations of AmeriCredit under the Purchase Agreement. 

 
 SECTION 3.3.    Custody of Receivables Files. 
  

(a)    In connection with the sale, transfer and assignment of the Receivables and the Other Conveyed Property to the Trust pursuant to this
Agreement and simultaneously with the execution and delivery of this Agreement, the Trust Collateral Agent shall enter into the Custodian Agreement with the Custodian, dated as of September 5, 2002, pursuant to which the 
 

 23 

 Trust Collateral Agent shall revocably appoint the Custodian, and the Custodian shall accept such appointment, to act as the agent of the Trust
Collateral Agent as custodian of the following documents or instruments in its possession which shall be delivered to the Custodian as agent of the Trust Collateral Agent on or before the Closing Date (with respect to each Receivable): 

 
 (i)    The fully executed original of the Receivable (together with any agreements
modifying the Receivable, including, without limitation, any extension agreements); 
  
 (ii)    The original credit application, or a copy thereof, of each Obligor, fully executed by each such Obligor on AmeriCredit’s customary form, or on a form approved by AmeriCredit, for such application;
and 
  
 (iii)    The original certificate of title (when received) and otherwise
such documents, if any, that AmeriCredit keeps on file in accordance with its customary procedures indicating that the Financed Vehicle is owned by the Obligor and subject to the interest of AmeriCredit as first lienholder or secured party
(including any Lien Certificate received by AmeriCredit), or, if such original certificate of title has not yet been received, a copy of the application therefor, showing AmeriCredit as secured party. 
  
 (b)    The Trust Collateral Agent may act as the Custodian, in which case the Trust Collateral Agent shall be deemed
to have assumed the obligations of the Custodian specified in the Custodian Agreement. Upon payment in full of any Receivable, the Servicer will notify the Custodian pursuant to a certificate of an officer of the Servicer (which certificate shall
include a statement to the effect that all amounts received in connection with such payments which are required to be deposited in the Collection Account pursuant to Section 4.1 have been so deposited) and shall request delivery of the Receivable
and Receivable File to the Servicer. From time to time as appropriate for servicing and enforcing any Receivable, the Custodian shall, upon written request of an officer of the Servicer and delivery to the Custodian of a receipt signed by such
officer, cause the original Receivable and the related Receivable File to be released to the Servicer. The Servicer’s receipt of a Receivable and/or Receivable File shall obligate the Servicer to return the original Receivable and the related
Receivable File to the Custodian when its need by the Servicer has ceased unless the Receivable is repurchased as described in Section 3.2 or 4.7. 
  
 ARTICLE IV 
  
 Administration and Servicing of Receivables 
  
 SECTION 4.1.    Duties of the Servicer.    The Servicer is hereby authorized to act as
agent for the Trust and in such capacity shall manage, service, administer and make collections on the Receivables, and perform the other actions required by the Servicer under this Agreement. The Servicer agrees that its servicing of the
Receivables shall be carried out in accordance with customary and usual procedures of institutions which service motor vehicle retail installment sales contracts and, to the extent more exacting, the degree of skill and attention that the Servicer
exercises from time to time with respect to all comparable motor 
 

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 vehicle receivables that it services for itself or others. In performing such duties, so long as AmeriCredit is the Servicer, it shall
substantially comply with the policies and procedures described on Schedule C, as such policies and procedures may be updated from time to time. The Servicer’s duties shall include, without limitation, collection and posting of all payments,
responding to inquiries of Obligors on the Receivables, investigating delinquencies, sending payment coupons to Obligors, reporting any required tax information to Obligors, monitoring the collateral, complying with the terms of the Lockbox
Agreement, accounting for collections and furnishing monthly and annual statements to the Trust Collateral Agent, the Trustee and the Insurer with respect to distributions, monitoring the status of Insurance Policies with respect to the Financed
Vehicles and performing the other duties specified herein. 
  
 The Servicer shall also administer and enforce all
rights and responsibilities of the holder of the Receivables provided for in the Dealer Agreements and Auto Loan Purchase and Sale Agreements (and shall maintain possession of the Dealer Agreements and Auto Loan Purchase and Sale Agreements, to the
extent it is necessary to do so), the Dealer Assignments, the Third-Party Lender Assignments and the Insurance Policies, to the extent that such Dealer Agreements, Auto Loan Purchase and Sale Agreements, Dealer Assignments, Third-Party Lender
Assignments and Insurance Policies relate to the Receivables, the Financed Vehicles or the Obligors. To the extent consistent with the standards, policies and procedures otherwise required hereby, the Servicer shall follow its customary standards,
policies, and procedures and shall have full power and authority, acting alone, to do any and all things in connection with such managing, servicing, administration and collection that it may deem necessary or desirable. Without limiting the
generality of the foregoing, the Servicer is hereby authorized and empowered by the Trust to execute and deliver, on behalf of the Trust, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all
other comparable instruments, with respect to the Receivables and with respect to the Financed Vehicles; provided, however, that notwithstanding the foregoing, the Servicer shall not, except pursuant to an order from a court of competent
jurisdiction, release an Obligor from payment of any unpaid amount under any Receivable or waive the right to collect the unpaid balance of any Receivable from the Obligor except in accordance with the Servicer’s customary practices.

  
 The Servicer is hereby authorized to commence, in its own name or in the name of the Trust, a legal proceeding to
enforce a Receivable pursuant to Section 4.3 or to commence or participate in any other legal proceeding (including, without limitation, a bankruptcy proceeding) relating to or involving a Receivable, an Obligor or a Financed Vehicle. If the
Servicer commences or participates in such a legal proceeding in its own name, the Trust shall thereupon be deemed to have automatically assigned such Receivable to the Servicer solely for purposes of commencing or participating in any such
proceeding as a party or claimant, and the Servicer is authorized and empowered by the Trust to execute and deliver in the Servicer’s name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in
connection with any such proceeding. The Trust Collateral Agent and the Owner Trustee shall furnish the Servicer with any limited powers of attorney and other documents which the Servicer may reasonably request and which the Servicer deems necessary
or appropriate and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under this Agreement. 
 

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 SECTION 4.2.    Collection of Receivable Payments;
Modifications of Receivables; Lockbox Agreements. 
  
 (a)    Consistent with the standards,
policies and procedures required by this Agreement, the Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due, and shall follow such
collection procedures as it follows with respect to all comparable automobile receivables that it services for itself or others and otherwise act with respect to the Receivables, the Dealer Agreements, the Dealer Assignments, the Auto Loan Purchase
and Sale Agreements, the Third-Party Lender Assignments, the Insurance Policies and the Other Conveyed Property in such manner as will, in the reasonable judgment of the Servicer, maximize the amount to be received by the Trust with respect thereto.
The Servicer is authorized in its discretion to waive any prepayment charge, late payment charge or any other similar fees that may be collected in the ordinary course of servicing any Receivable. 
  
 (b)    The Servicer may at any time agree to a modification or amendment of a Receivable in order to (i) change the
Obligor’s regular due date to a date within the Collection Period in which such due date occurs or (ii) re-amortize the Scheduled Receivables Payments on the Receivable following a partial prepayment of principal, in accordance with its
customary procedures if the Servicer believes in good faith that such extension, modification or amendment is necessary to avoid a default on such Receivable, will maximize the amount to be received by the Trust with respect to such Receivable, and
is otherwise in the best interests of the Trust. 
  
 (c)    The Servicer may grant payment
extensions on, or other modifications or amendments to, a receivable (in addition to those modifications permitted by Section 4.2(b)) in accordance with its customary procedures if the Servicer believes in good faith that such extension,
modification or amendment is necessary to avoid a default on such Receivable, will maximize the amount to be received by the Trust with respect to such Receivable, and is otherwise in the best interests of the Trust; provided, however, that:

  
 (i)    The aggregate period of all extensions on a Receivable shall not
exceed eight months; 
  
 (ii)    In no event may a Receivable be extended beyond
the Collection Period immediately preceding the latest Final Scheduled Distribution Date; 
  
 (iii)    The average Monthly Extension Rate for any three consecutive calendar months shall not exceed 4%; and 
  
 (iv)    So long as an Insurer Default shall not have occurred and be continuing, the Servicer shall not amend or modify a Receivable
(except as provided in Section 4.2(b) and this Section 4.2(c)) without the consent of the Insurer or a Note Majority (if an Insurer Default shall have occurred and be continuing). 
  
 With respect to clause (iii) of this Section 4.2(c), in the event the average of the Monthly Extension Rates calculated with respect to three consecutive calendar months
exceeds 4% (which information shall be set forth in the related Servicer’s Certificate), the Servicer shall, on the third such Accounting Date, purchase from the Trust the Receivables with respect to 
 

 26 

 which payment had been extended (starting with the Receivables most recently so extended) in an aggregate Principal Balance equal to the product
of (i) the difference between such average of Monthly Extension Rates and 4% and (ii) the Aggregate Principal Balance, and pay the related Purchase Amount on the related Preliminary Determination Date; provided, however, that in the event the
Backup Servicer shall be acting as Servicer hereunder, the foregoing sentence shall apply only in respect of Receivables as to which payments had been extended by such Backup Servicer. 
  
 (d)    The Servicer shall use its best efforts to notify or direct Obligors to make all payments on the Receivables, whether by check or by direct debit
of the Obligor’s bank account, to be made directly to one or more Lockbox Banks, acting as agent for the Trust pursuant to a Lockbox Agreement. The Servicer shall use its best efforts to notify or direct any Lockbox Bank to deposit all payments
on the Receivables in the Lockbox Account no later than the Business Day after receipt, and to cause all amounts credited to the Lockbox Account on account of such payments to be transferred to the Collection Account no later than the second
Business Day after receipt of such payments. The Lockbox Account shall be a demand deposit account held by the Lockbox Bank, or at the request of the Controlling Party, an Eligible Account. 
  
 Prior to the Closing Date, the Servicer shall have notified each Obligor that makes its payments on the Receivables by check to make such payments thereafter directly to
the Lockbox Bank (except in the case of Obligors that have already been making such payments to the Lockbox Bank), and shall have provided each such Obligor with remittance invoices in order to enable such Obligors to make such payments directly to
the Lockbox Bank for deposit into the Lockbox Account, and the Servicer will continue, not less often than every three months, to so notify those Obligors who have failed to make payments to the Lockbox Bank. If and to the extent requested by the
Controlling Party, the Servicer shall request each Obligor that makes payment on the Receivables by direct debit of such Obligor’s bank account, to execute a new authorization for automatic payment which in the judgment of the Controlling Party
is sufficient to authorize direct debit by the Lockbox Bank on behalf of the Trust. If at any time, the Lockbox Bank is unable to directly debit an Obligor’s bank account that makes payment on the Receivables by direct debit and if such
inability is not cured within 15 days or cannot be cured by execution by the Obligor of a new authorization for automatic payment, the Servicer shall notify such Obligor that it cannot make payment by direct debit and must thereafter make payment by
check. 
  
 Notwithstanding any Lockbox Agreement, or any of the provisions of this Agreement relating to the Lockbox
Agreement, the Servicer shall remain obligated and liable to the Trust, the Trust Collateral Agent and Noteholders for servicing and administering the Receivables and the Other Conveyed Property in accordance with the provisions of this Agreement
without diminution of such obligation or liability by virtue thereof; provided, however, that the foregoing shall not apply to any Backup Servicer for so long as a Lockbox Bank is performing its obligations pursuant to the terms of a
Lockbox Agreement. 
  
 In the event of a termination of the Servicer, the successor Servicer shall assume all of the
rights and obligations of the outgoing Servicer under the Lockbox Agreement subject to the terms hereof. In such event, the successor Servicer shall be deemed to have assumed all of 
 

 27 

 the outgoing Servicer’s interest therein and to have replaced the outgoing Servicer as a party to each such Lockbox Agreement to the same
extent as if such Lockbox Agreement had been assigned to the successor Servicer, except that the outgoing Servicer shall not thereby be relieved of any liability or obligations on the part of the outgoing Servicer to the Lockbox Bank under such
Lockbox Agreement. The outgoing Servicer shall, upon request of the Trust Collateral Agent, but at the expense of the outgoing Servicer, deliver to the successor Servicer all documents and records relating to each such Lockbox Agreement and an
accounting of amounts collected and held by the Lockbox Bank and otherwise use its best efforts to effect the orderly and efficient transfer of any Lockbox Agreement to the successor Servicer. In the event that the Insurer (so long as an Insurer
Default shall not have occurred and be continuing) or a Note Majority (if an Insurer Default shall have occurred and be continuing) elects to change the identity of the Lockbox Bank, the outgoing Servicer, at its expense, shall cause the Lockbox
Bank to deliver, at the direction of the Insurer (so long as an Insurer Default shall not have occurred and be continuing) or a Note Majority (if an Insurer Default shall have occurred and be continuing) to the Trust Collateral Agent or a successor
Lockbox Bank, all documents and records relating to the Receivables and all amounts held (or thereafter received) by the Lockbox Bank (together with an accounting of such amounts) and shall otherwise use its best efforts to effect the orderly and
efficient transfer of the lockbox arrangements and the Servicer shall notify the Obligors to make payments to the Lockbox established by the successor. 
  
 (e)    The Servicer shall remit all payments by or on behalf of the Obligors received directly by the Servicer to the Lockbox Bank for deposit into the Collection Account no later
than the Business Day after the receipt thereof. 
  
 SECTION 4.3.    Realization upon
Receivables. 
  
 (a)    Consistent with the standards, policies and procedures required by
this Agreement, the Servicer shall use its best efforts to repossess (or otherwise comparably convert the ownership of) and liquidate any Financed Vehicle securing a Receivable with respect to which the Servicer has determined that payments
thereunder are not likely to be resumed, as soon as is practicable after default on such Receivable but in no event later than the date on which all or any portion of a Scheduled Receivables Payment has become 91 days delinquent;
provided, however, that the Servicer may elect not to repossess a Financed Vehicle within such time period if in its good faith judgment it determines that the proceeds ultimately recoverable with respect to such
Receivable would be increased by forbearance. The Servicer is authorized to follow such customary practices and procedures as it shall deem necessary or advisable, consistent with the standard of care required by Section 4.1, which practices and
procedures may include reasonable efforts to realize upon any recourse to Dealers and Third-Party Lenders, the sale of the related Financed Vehicle at public or private sale, the submission of claims under an Insurance Policy and other actions by
the Servicer in order to realize upon such a Receivable. The foregoing is subject to the provision that, in any case in which the Financed Vehicle shall have suffered damage, the Servicer shall not expend funds in connection with any repair or
towards the repossession of such Financed Vehicle unless it shall determine in its discretion that such repair and/or repossession shall increase the proceeds of liquidation of the related Receivable by an amount greater than the amount of such
expenses. All amounts received upon liquidation of a Financed Vehicle shall be remitted directly by the Servicer to the Collection Account without deposit into any intervening account as soon as practicable, but in no event later 

 28 

 than the Business Day after receipt thereof. The Servicer shall be entitled to recover all reasonable expenses incurred by it in the course of
repossessing and liquidating a Financed Vehicle into cash proceeds, but only out of the cash proceeds of such Financed Vehicle, any deficiency obtained from the Obligor or any amounts received from the related Dealer or Third-Party Lender, which
amounts in reimbursement may be retained by the Servicer (and shall not be required to be deposited as provided in Section 4.2(e)) to the extent of such expenses. The Servicer shall pay on behalf of the Trust any personal property taxes assessed on
repossessed Financed Vehicles. The Servicer shall be entitled to reimbursement of any such tax from Net Liquidation Proceeds with respect to such Receivable. 
  
 (b)    If the Servicer elects to commence a legal proceeding to enforce a Dealer Agreement, Auto Loan Purchase and Sale Agreement, Dealer Assignment or Third-Party Lender
Assignment, the act of commencement shall be deemed to be an automatic assignment from the Trust to the Servicer of the rights under such Dealer Agreement, Auto Loan Purchase and Sale Agreement, Dealer Assignment or Third-Party Lender Assignment for
purposes of collection only. If, however, in any enforcement suit or legal proceeding it is held that the Servicer may not enforce a Dealer Agreement, Auto Loan Purchase and Sale Agreement, Dealer Assignment or Third-Party Lender Assignment on the
grounds that it is not a real party in interest or a Person entitled to enforce the Dealer Agreement, Auto Loan Purchase and Sale Agreement, Dealer Assignment or Third-Party Lender Assignment, the Owner Trustee and/or the Trust Collateral Agent, at
the Servicer’s expense, or the Seller, at the Seller’s expense, shall take such steps as the Servicer deems reasonably necessary to enforce the Dealer Agreement, Auto Loan Purchase and Sale Agreement, Dealer Assignment or Third-Party
Lender Assignment, including bringing suit in its name or the name of the Seller or of the Trust and the Owner Trustee and/or the Trust Collateral Agent for the benefit of the Noteholders. All amounts recovered shall be remitted directly by the
Servicer as provided in Section 4.2(e). 
  
 SECTION 4.4.    Insurance. 

 
 (a)    The Servicer shall require, in accordance with its customary servicing policies and procedures, that
each Financed Vehicle be insured by the related Obligor under the Insurance Policies referred to in Paragraph 24 of the Schedule of Representations and Warranties and shall monitor the status of such physical loss and damage insurance coverage
thereafter, in accordance with its customary servicing procedures. Each Receivable requires the Obligor to maintain such physical loss and damage insurance, naming AmeriCredit and its successors and assigns as additional insureds, and permits the
holder of such Receivable to obtain physical loss and damage insurance at the expense of the Obligor if the Obligor fails to maintain such insurance. If the Servicer shall determine that an Obligor has failed to obtain or maintain a physical loss
and damage Insurance Policy covering the related Financed Vehicle which satisfies the conditions set forth in clause (i)(a) of such Paragraph 24 (including, without limitation, during the repossession of such Financed Vehicle) the Servicer may
enforce the rights of the holder of the Receivable under the Receivable to require the Obligor to obtain such physical loss and damage insurance in accordance with its customary servicing policies and procedures. The Servicer may maintain a
vendor’s single interest or other collateral protection insurance policy with respect to all Financed Vehicles (“Collateral Insurance”) which policy shall by its terms insure against physical loss and damage in the event any
Obligor fails to maintain physical loss and damage insurance with respect to the related Financed Vehicle. All policies of Collateral 
 

 29 

 Insurance shall be endorsed with clauses providing for loss payable to the Servicer. Costs incurred by the Servicer in maintaining such
Collateral Insurance shall be paid by the Servicer. 
  
 (b)    The Servicer may, if an Obligor
fails to obtain or maintain a physical loss and damage Insurance Policy, obtain insurance with respect to the related Financed Vehicle and advance on behalf of such Obligor, as required under the terms of the insurance policy, the premiums for such
insurance (such insurance being referred to herein as “Force-Placed Insurance”). All policies of Force-Placed Insurance shall be endorsed with clauses providing for loss payable to the Servicer. Any cost incurred by the Servicer in
maintaining such Force-Placed Insurance shall only be recoverable out of premiums paid by the Obligors or Net Liquidation Proceeds with respect to the Receivable, as provided in Section 4.4(c). 
  

(c)    In connection with any Force-Placed Insurance obtained hereunder, the Servicer may, in the manner and to the extent permitted by applicable
law, require the Obligors to repay the entire premium to the Servicer. In no event shall the Servicer include the amount of the premium in the Amount Financed under the Receivable. For all purposes of this Agreement, the Insurance Add-On Amount with
respect to any Receivable having Force-Placed Insurance will be treated as a separate obligation of the Obligor and will not be added to the Principal Balance of such Receivable, and amounts allocable thereto will not be available for distribution
on the Notes and the Certificates. The Servicer shall retain and separately administer the right to receive payments from Obligors with respect to Insurance Add-On Amounts or rebates of Forced-Placed Insurance premiums. If an Obligor makes a payment
with respect to a Receivable having Force-Placed Insurance, but the Servicer is unable to determine whether the payment is allocable to the Receivable or to the Insurance Add-On Amount, the payment shall be applied first to any unpaid Scheduled
Receivables Payments and then to the Insurance Add-On Amount. Net Liquidation Proceeds on any Receivable will be used first to pay the Principal Balance and accrued interest on such Receivable and then to pay the related Insurance Add-On Amount. If
an Obligor under a Receivable with respect to which the Servicer has placed Force-Placed Insurance fails to make scheduled payments of such Insurance Add-On Amount as due, and the Servicer has determined that eventual payment of the Insurance Add-On
Amount is unlikely, the Servicer may, but shall not be required to, purchase such Receivable from the Trust for the Purchase Amount on any subsequent Determination Date. Any such Receivable, and any Receivable with respect to which the Servicer has
placed Force-Placed Insurance which has been paid in full (excluding any Insurance Add-On Amounts) will be assigned to the Servicer. 
  
 (d)    The Servicer may sue to enforce or collect upon the Insurance Policies, in its own name, if possible, or as agent of the Trust. If the Servicer elects to commence a legal proceeding to enforce an
Insurance Policy, the act of commencement shall be deemed to be an automatic assignment of the rights of the Trust under such Insurance Policy to the Servicer for purposes of collection only. If, however, in any enforcement suit or legal proceeding
it is held that the Servicer may not enforce an Insurance Policy on the grounds that it is not a real party in interest or a holder entitled to enforce the Insurance Policy, the Owner Trustee and/or the Trust Collateral Agent, at the Servicer’s
expense, or the Seller, at the Seller’s expense, shall take such steps as the Servicer deems necessary to enforce such Insurance Policy, including bringing suit in its name or the name of the Trust and the Owner Trustee and/or the Trust
Collateral Agent for the benefit of the Noteholders. 
 

 30 

  
 (e)    The Servicer will cause itself and may cause the Trust
Collateral Agent to be named as named insured under all policies of Collateral Insurance. 
  
 SECTION
4.5.    Maintenance of Security Interests in Vehicles. 
  
 (a)    Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by
each Receivable in the related Financed Vehicle, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing
statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Trust Collateral Agent hereby authorizes the Servicer, and the Servicer agrees, to take any and
all steps necessary to re-perfect such security interest on behalf of the Trust as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust is insufficient,
without a notation on the related Financed Vehicle’s certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in
the related Financed Vehicle in favor of the Trust, the Servicer hereby agrees that AmeriCredit’s designation as the secured party on the certificate of title is in its capacity as Servicer as agent of the Trust. 
  
 (b)    Upon the occurrence of an Insurance Agreement Event of Default, the Insurer may (so long as an Insurer Default
shall not have occurred and be continuing) instruct the Trust Collateral Agent and the Servicer to take or cause to be taken, or, if an Insurer Default shall have occurred, upon the occurrence of a Servicer Termination Event, the Trust Collateral
Agent and the Servicer shall take or cause to be taken such action as may, in the opinion of counsel to the Controlling Party, be necessary to perfect or re-perfect the security interests in the Financed Vehicles securing the Receivables in the name
of the Trust by amending the title documents of such Financed Vehicles or by such other reasonable means as may, in the opinion of counsel to the Controlling Party, be necessary or prudent. 
  
 AmeriCredit hereby agrees to pay all expenses related to such perfection or reperfection and to take all action necessary therefor. In addition, prior to the occurrence of
an Insurance Agreement Event of Default, the Controlling Party may instruct the Trust Collateral Agent and the Servicer to take or cause to be taken such action as may, in the opinion of counsel to the Controlling Party, be necessary to perfect or
re-perfect the security interest in the Financed Vehicles underlying the Receivables in the name of the Trust, including by amending the title documents of such Financed Vehicles or by such other reasonable means as may, in the opinion of counsel to
the Controlling Party, be necessary or prudent; provided, however, that if the Controlling Party requests that the title documents be amended prior to the occurrence of an Insurance Agreement Event of Default, the
out-of-pocket expenses of the Servicer or the Trust Collateral Agent in connection with such action shall be reimbursed to the Servicer or the Trust Collateral Agent, as applicable, by the Controlling Party. AmeriCredit hereby appoints the Trust
Collateral Agent as its attorney-in-fact to take any and all steps required to be performed by AmeriCredit pursuant to this Section 4.5(b) (it being understood that and agreed that the Trust Collateral Agent shall have no obligation to take such
steps with respect to all perfection or reperfection, except as pursuant to the Basic Documents to which it is a party and to which 
 

 31 

 AmeriCredit has paid all expenses), including execution of certificates of title or any other documents in the name and stead of AmeriCredit and
the Trust Collateral Agent hereby accepts such appointment. 
  
 SECTION 4.6.    Covenants,
Representations, and Warranties of Servicer.    By its execution and delivery of this Agreement, the Servicer makes the following representations, warranties and covenants on which the Trust Collateral Agent relies in
accepting the Receivables, on which the Trustee relies in authenticating the Notes and on which the Insurer relies in issuing the Note Policy. 
  
 (a)    The Servicer covenants as follows: 
  
 (i)    Liens in Force.    The Financed Vehicle securing each Receivable shall not be released in whole or in part from the security interest granted by the Receivable, except upon
payment in full of the Receivable or as otherwise contemplated herein; 
  
 (ii)    No Impairment.    The Servicer shall do nothing to impair the rights of the Trust or the Noteholders in the Receivables, the Dealer Agreements, the Auto Loan Purchase and Sale
Agreements, the Dealer Assignments, the Third-Party Lender Assignments, the Insurance Policies or the Other Conveyed Property except as otherwise expressly provided herein; 
  
 (iii)    No Amendments.    The Servicer shall not extend or otherwise amend the terms of any Receivable,
except in accordance with Section 4.2; and 
  
 (iv)    Restrictions on
Liens.    The Servicer shall not (i) create, incur or suffer to exist, or agree to create, incur or suffer to exist, or consent to cause or permit in the future (upon the happening of a contingency or otherwise) the creation,
incurrence or existence of any Lien or restriction on transferability of the Receivables except for the Lien in favor of the Trust Collateral Agent for the benefit of the Noteholders and Insurer, the Lien imposed by the Spread Account Agreement
Supplement in favor of the Collateral Agent for the benefit of the Trust Collateral Agent and Insurer, and the restrictions on transferability imposed by this Agreement or (ii) sign or file under the Uniform Commercial Code of any jurisdiction any
financing statement which names AmeriCredit or the Servicer as a debtor, or sign any security agreement authorizing any secured party thereunder to file such financing statement, with respect to the Receivables, except in each case any such
instrument solely securing the rights and preserving the Lien of the Trust Collateral Agent, for the benefit of the Noteholders and the Insurer. 
  
 (b)    The Servicer represents, warrants and covenants as of the Closing Date as to itself that the representations and warranties set forth on the Schedule of Representations
attached hereto as Schedule B are true and correct, provided that such representations and warranties contained therein and herein shall not apply to any entity other than AmeriCredit. 
  
 SECTION 4.7.    Purchase of Receivables Upon Breach of Covenant.    Upon discovery by any of the Servicer, the Insurer, a
Responsible Officer of the Trust Collateral Agent, the Owner Trustee or a Responsible Officer of the Trustee of a breach of any of the covenants set forth in Sections 4.5(a) or 4.6(a), the party discovering such breach shall give 

 32 

 
prompt written notice to the others; provided, however, that the failure to give any such notice shall not affect any obligation of AmeriCredit as Servicer under this Section. As of the
second Accounting Date following its discovery or receipt of notice of any breach of any covenant set forth in Sections 4.5(a) or 4.6(a) which materially and adversely affects the interests of the Noteholders or the Insurer in any Receivable
(including any Liquidated Receivable) (or, at AmeriCredit’s election, the first Accounting Date so following) or the related Financed Vehicle, AmeriCredit shall, unless such breach shall have been cured in all material respects, purchase from
the Trust the Receivable affected by such breach and, on the related Determination Date, AmeriCredit shall pay the related Purchase Amount. It is understood and agreed that the obligation of AmeriCredit to purchase any Receivable (including any
Liquidated Receivable) with respect to which such a breach has occurred and is continuing shall, if such obligation is fulfilled, constitute the sole remedy against AmeriCredit for such breach available to the Insurer, the Noteholders, the Owner
Trustee or the Trust Collateral Agent; provided, however, that AmeriCredit shall indemnify the Trust, the Backup Servicer, the Collateral Agent, the Insurer, the Owner Trustee, the Trust Collateral Agent, the Trustee and the Noteholders 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 breach. This section shall survive the termination of this Agreement and the earlier removal or resignation of the Trustee and/or the Trust Collateral Agent and/or the Backup Servicer. 
  
 SECTION 4.8.    Total Servicing Fee; Payment of Certain Expenses by Servicer.    On each
Distribution Date, the Servicer shall be entitled to receive out of the Collection Account the Base Servicing Fee and any Supplemental Servicing Fee for the related Collection Period (together, the “Servicing Fee”) pursuant to
Section 5.7. The Servicer shall be required to pay all expenses incurred by it in connection with its activities under this Agreement (including taxes imposed on the Servicer, expenses incurred in connection with distributions and reports made by
the Servicer to Noteholders or the Insurer and all other fees and expenses of the Owner Trustee, the Collateral Agent, the Backup Servicer, the Trust Collateral Agent or the Trustee, except taxes levied or assessed against the Trust, and claims
against the Trust in respect of indemnification, which taxes and claims in respect of indemnification against the Trust are expressly stated to be for the account of AmeriCredit). The Servicer shall be liable for the fees and expenses of the Owner
Trustee, the Backup Servicer, the Trust Collateral Agent, the Trustee, the Custodian, the Collateral Agent, the Lockbox Bank (and any fees under the Lockbox Agreement) and the Independent Accountants. Notwithstanding the foregoing, if the Servicer
shall not be AmeriCredit, a successor to AmeriCredit as Servicer including the Backup Servicer permitted by Section 9.3 shall not be liable for taxes levied or assessed against the Trust or claims against the Trust in respect of indemnification, or
the fees and expenses referred to above. 
  
 SECTION 4.9.    Preliminary Servicer’s
Certificate and Servicer’s Certificate. 
  
 (a)    No later than 10:00 a.m. Eastern time
on each Preliminary Determination Date, the Servicer shall deliver (facsimile delivery being acceptable) to the Trustee, the Owner Trustee, the Trust Collateral Agent, the Collateral Agent, the Backup Servicer, the Insurer and each Rating Agency a
Preliminary Servicer’s Certificate executed by a Responsible Officer of the Servicer containing among other things, all information necessary to enable the Trust Collateral
 
 

 33 

 
Agent to give any notice required by Section 5.5(b) and to make the distributions required by Section 5.7(a). 
  
 (b)    No later than 10:00 a.m. Eastern time on each Determination Date, the Servicer shall deliver (facsimile delivery being acceptable) to the
Trustee, the Owner Trustee, the Trust Collateral Agent, the Collateral Agent, the Backup Servicer, the Insurer and each Rating Agency a Servicer’s Certificate executed by a Responsible Officer of the Servicer containing among other things, (i)
all information necessary to enable the Trust Collateral Agent to make any withdrawal and deposit required by Section 5.5 and to make the distributions required by Section 5.7(a), (ii) a listing of all Purchased Receivables and Administrative
Receivables purchased as of the related Accounting Date, identifying the Receivables so purchased, (iii) all information necessary to enable the Trust Collateral Agent to send the statements to Noteholders and the Insurer required by Section 5.10,
and (iv) all information necessary to enable the Trust Collateral Agent to reconcile the aggregate cash flows, the Collection Account for the related Collection Period, Distribution Date and Insured Distribution Date, including the accounting
required by Section 5.10. Receivables purchased by the Servicer or by the Seller on the related Accounting Date and each Receivable which became a Liquidated Receivable or which was paid in full during the related Collection Period shall be
identified by account number (as set forth in the Schedule of Receivables). In addition to the information set forth in the preceding sentence, the Servicer’s Certificate shall also contain the following information: (a) the Delinquency Ratio,
Average Delinquency Ratio, Cumulative Default Ratio and Cumulative Net Loss Ratio (as such terms are defined in the Spread Account Agreement) for such Determination Date; (b) whether any Trigger Event has occurred as of such Determination Date; (c)
whether any Trigger Event that may have occurred as of a prior Determination Date is deemed cured as of such Determination Date; and (d) whether to the knowledge of the Servicer an Insurance Agreement Event of Default has occurred. 

 
 SECTION 4.10.    Annual Statement as to Compliance, Notice of Servicer Termination Event.

  
 (a)    The Servicer shall deliver to the Trustee, the Owner Trustee, the Trust Collateral
Agent, the Backup Servicer, the Insurer and each Rating Agency, on or before October 31 (or 120 days after the end of the Servicer’s fiscal year, if other than June 30) of each year, beginning on October 31, 2003, an officer’s certificate
signed by any Responsible Officer of the Servicer, dated as of June 30 (or other applicable date) of such year, stating that (i) a review of the activities of the Servicer during the preceding 12-month period (or such other period as shall have
elapsed from the Closing Date to the date of the first such certificate (which period shall not be less than six months)) and of its performance under this Agreement has been made under such officer’s supervision, and (ii) to such
officer’s knowledge, based on such review, the Servicer has fulfilled all its obligations under this Agreement throughout such period, or, if there has been a default in the fulfillment of any such obligation, specifying each such default known
to such officer and the nature and status thereof. 
  
 (b)    The Servicer shall deliver to the
Trustee, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer, the Insurer, the Collateral Agent and each Rating Agency, promptly after having obtained knowledge thereof, but in no event later than two (2) Business Days thereafter,
written notice in an officer’s certificate of any event which with the giving of
 
 

 34 

 
notice or lapse of time, or both, would become a Servicer Termination Event under Section 9.1(a). The Seller or the Servicer shall deliver to the Trustee, the Owner Trustee, the Trust Collateral
Agent, the Backup Servicer, the Insurer, the Collateral Agent, the Servicer or the Seller (as applicable) and each Rating Agency promptly after having obtained knowledge thereof, but in no event later than two (2) Business Days thereafter, written
notice in an officer’s certificate of any event which with the giving of notice or lapse of time, or both, would become a Servicer Termination Event under any other clause of Section 9.1. 
  

SECTION 4.11.    Annual Independent Accountants’ Report.    The Servicer shall cause a firm of nationally
recognized independent certified public accountants (the “Independent Accountants”), who may also render other services to the Servicer or to the Seller, to deliver to the Trustee, the Owner Trustee, the Trust Collateral Agent, the
Backup Servicer, the Insurer and each Rating Agency, on or before October 31 (or 120 days after the end of the Servicer’s fiscal year, if other than June 30) of each year, beginning on October 31, 2003, with respect to the twelve months ended
the immediately preceding June 30 (or other applicable date) (or such other period as shall have elapsed from the Closing Date to the date of such certificate (which period shall not be less than six months)), a statement (the
“Accountants’ Report”) addressed to the Board of Directors of the Servicer, to the Trustee, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer and to the Insurer, to the effect that such firm has audited
the books and records of AmeriCredit Corp., in which the Servicer is included as a consolidated subsidiary, and issued its report thereon in connection with the audit report on the consolidated financial statements of AmeriCredit Corp. and that (1)
such audit was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as such firm considered necessary in the circumstances; (2) the firm is
independent of the Seller and the Servicer within the meaning of the Code of Professional Ethics of the American Institute of Certified Public Accountants, and (3) includes a report on the application of agreed upon procedures to three randomly
selected Servicer’s Certificates including the delinquency, default and loss statistics required to be specified therein noting whether any exceptions or errors in the Servicer’s Certificates were found. 
  
 SECTION 4.12.    Access to Certain Documentation and Information Regarding
Receivables.    The Servicer shall provide to representatives of the Trustee, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer and the Insurer reasonable access to the documentation regarding the
Receivables. In each case, such access shall be afforded without charge but only upon reasonable request and during normal business hours. Nothing in this Section shall affect the obligation of the Servicer to observe any applicable law prohibiting
disclosure of information regarding the Obligors, and the failure of the Servicer to provide access as provided in this Section as a result of such obligation shall not constitute a breach of this Section. 
  
 SECTION 4.13.    Monthly Tape.    On or before the Insured Distribution Date, but in no
event later than the seventh calendar day, of each month, the Servicer will deliver to the Trust Collateral Agent and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Trust Collateral Agent
and the Backup Servicer) in a format acceptable to the Trust Collateral Agent and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer’s
Certificate relating to the immediately preceding Determination
 
 

 35 

 
Date and necessary to review the application of collections as provided in Section 5.4. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the
Trust Collateral Agent and the Backup Servicer) to (i) confirm that the Servicer’s Certificate is complete, (ii) confirm that such tape, diskette or other electronic transmission is in readable form, (iii) verify the mathematical accuracy of
all calculations contained within the Servicer’s Certificate and (iv) calculate and confirm (A) the aggregate amount distributable as principal on the related Distribution Date to each Class of Notes, (B) the aggregate amount distributable as
interest on the related Distribution Date to each Class of Notes, (C) any amounts distributable on the related Distribution Date which are to be paid with funds (y) withdrawn from the Spread Account or (z) drawn under the Note Policy, (D) the
outstanding principal amount of each Class of Notes after giving effect to all distributions made pursuant to clause (A), above, (E) the Pool Factor for each Class of Notes after giving effect to all distributions made pursuant to clause (A), above,
and (F) the aggregate Noteholders’ Principal Carryover Amount and the aggregate Noteholders’ Interest Carryover Amount on such Distribution Date after giving effect to all distributions made pursuant to clauses (A) and (B), above,
respectively. The Backup Servicer shall certify to the Controlling Party that it has verified the Servicer’s Certificate in accordance with this Section and shall notify the Servicer and the Controlling Party of any discrepancies, in each case,
on or before the second Business Day following the Insured Distribution Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the next
succeeding Distribution Date, but in the absence of a reconciliation, the Servicer’s Certificate shall control for the purpose of calculations and distributions with respect to the next succeeding Distribution Date. In the event that the Backup
Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer’s Certificate by the next succeeding Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer’s expense, to audit
the Servicer’s Certificate and, prior to the last day of the month after the month in which such Servicer’s Certificate was delivered, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the
Preliminary Servicer’s Certificate for the next succeeding Distribution Date, and/or the Servicer’s Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer
shall, if so requested by the Controlling Party, deliver to the Backup Servicer its Collection Records and its Monthly Records within 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all
of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without
limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. 
  
 SECTION 4.14.    Retention and Termination of Servicer.    The Servicer hereby covenants and agrees to act as such under this
Agreement for an initial term, commencing on the Closing Date and ending on December 31, 2002, which term shall be subject to extension by the Controlling Party for successive quarterly terms ending on each successive March 31, June 30, September 30
and December 31 (or, pursuant to revocable written standing instructions from time to time to the Servicer and the Trust Collateral Agent for any specified number of terms greater than one), until the Notes and the Securities are paid in full. Each
such notice (including each notice pursuant to standing instructions, which shall be deemed delivered at the end of successive quarterly terms for so long as such instructions are in effect) (a “Servicer Extension
 
 

 36 

 
Notice”) shall be delivered by the Insurer to the Trust Collateral Agent and the Servicer. The Servicer hereby agrees that, as of the date hereof and upon its receipt of any such
Servicer Extension Notice, the Servicer shall become bound, for the initial term beginning on the Closing Date and for the duration of the term covered by such Servicer Extension Notice, to continue as the Servicer subject to and in accordance with
the other provisions of this Agreement. Until such time as an Insurer Default shall have occurred and be continuing the Trust Collateral Agent agrees that if as of the fifteenth day prior to the last day of any term of the Servicer the Trust
Collateral Agent shall not have received any Servicer Extension Notice from the Insurer, the Trust Collateral Agent will, within five days thereafter, give written notice of such non-receipt to the Insurer and the Servicer. 
  
 SECTION 4.15.    Fidelity Bond and Errors and Omissions Policy.    The Servicer has
obtained, and shall continue to maintain in full force and effect, a Fidelity Bond and Errors and Omissions Policy of a type and in such amount as is customary for servicers engaged in the business of servicing automobile receivables. 

 
 ARTICLE V 
  
 Trust Accounts; Distributions; 
 Statements to Noteholders 
  
 SECTION 5.1.    Establishment of Trust Accounts. 
  
 (a)    (i)    The Trust Collateral Agent, on behalf of the Noteholders and the Insurer, shall establish and maintain in its own name an Eligible Deposit Account
(the “Collection Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Trust Collateral Agent on behalf of the Noteholders and the Insurer. The Collection Account
shall initially be established with the Trust Collateral Agent. 
  
 (ii)    The Trust Collateral
Agent, on behalf of the Noteholders, shall establish and maintain in its own name an Eligible Deposit Account (the “Note Distribution Account”), bearing a designation clearly indicating that the funds deposited therein are
held for the benefit of the Trust Collateral Agent on behalf of the Noteholders and the Insurer. The Note Distribution Account shall initially be established with the Trust Collateral Agent. 
  
 (b)    Funds on deposit in the Collection Account and the Note Distribution Account (collectively, the “Trust Accounts”) and the
Lockbox Accounts shall be invested by the Trust Collateral Agent (or any custodian with respect to funds on deposit in any such account) in Eligible Investments selected in writing by the Servicer (pursuant to standing instructions or otherwise).
All such Eligible Investments shall be held by or on behalf of the Trust Collateral Agent for the benefit of the Noteholders and the Insurer, as applicable. Other than as permitted by the Rating Agencies and the Insurer, funds on deposit in any
Account shall be invested in Eligible Investments that will mature so that such funds will be available at the close of business on the Business Day immediately preceding the following Distribution Date or, if earlier, on the following Insured
Distribution Date. Funds deposited in a Trust Account on the day immediately preceding a Distribution Date or an Insured Distribution Date upon the maturity of
 
 

 37 

 
any Eligible Investments are required to be invested overnight. All Eligible Investments will be held to maturity. 
  
 (c)    All investment earnings of moneys deposited in the Trust Accounts shall be deposited (or caused to be deposited) by the Trust Collateral Agent in
the Collection Account, and any loss resulting from such investments shall be charged to such account. The Servicer will not direct the Trust Collateral Agent to make any investment of any funds held in any of the Trust Accounts unless the security
interest granted and perfected in such account will continue to be perfected in such investment, in either case without any further action by any Person, and, in connection with any direction to the Trust Collateral Agent to make any such
investment, if requested by the Trust Collateral Agent, the Servicer shall deliver to the Trust Collateral Agent an Opinion of Counsel, acceptable to the Trust Collateral Agent, to such effect. 
  

(d)    The Trust Collateral Agent shall not in any way be held liable by reason of any insufficiency in any of the Trust Accounts resulting from
any loss on any Eligible Investment included therein except for losses attributable to the Trust Collateral Agent’s negligence or bad faith or its failure to make payments on such Eligible Investments issued by the Trust Collateral Agent, in
its commercial capacity as principal obligor and not as trustee, in accordance with their terms. 
  
 (e)    If (i) the Servicer shall have failed to give investment directions in writing for any funds on deposit in the Trust Accounts to the Trust Collateral Agent by 1:00 p.m. Eastern Time (or such other time as
may be agreed by the Issuer and Trust Collateral Agent) on any Business Day; or (ii) a Default or Event of Default shall have occurred and be continuing with respect to the Notes but the Notes shall not have been declared due and payable, or, if
such Notes shall have been declared due and payable following an Event of Default, amounts collected or receivable from the Trust Property are being applied as if there had not been such a declaration; then the Trust Collateral Agent shall, to the
fullest extent practicable, invest and reinvest funds in the Trust Accounts in the investment described in clause (g) of the definition of Eligible Investments. 
  
 (f)    (i)    The Trust Collateral Agent shall possess all right, title and interest in all funds on deposit from time to time in the Trust Accounts and in all
proceeds thereof (excluding all Investment Earnings on the Collection Account) and all such funds, investments, proceeds and income shall be part of the Owner Trust Estate. Except as otherwise provided herein, the Trust Accounts shall be under the
sole dominion and control of the Trust Collateral Agent for the benefit of the Noteholders, as the case may be, and the Insurer. If, at any time, any of the Trust Accounts ceases to be an Eligible Deposit Account, the Trust Collateral Agent (or the
Servicer on its behalf) shall within five Business Days (or such longer period as to which each Rating Agency and the Insurer may consent) establish a new Trust Account as an Eligible Deposit Account and shall transfer any cash and/or any
investments to such new Trust Account. In connection with the foregoing, the Servicer agrees that, in the event that any of the Trust Accounts are not accounts with the Trust Collateral Agent, the Servicer shall notify the Trust Collateral Agent in
writing promptly upon any of such Trust Accounts ceasing to be an Eligible Deposit Account. 
 

 38 

  
 (ii)    With respect to the Trust Account Property, the Trust
Collateral Agent agrees that: 
  
 (A)    any Trust Account Property that is held
in deposit accounts shall be held solely in the Eligible Deposit Accounts; and, except as otherwise provided herein, each such Eligible Deposit Account shall be subject to the exclusive custody and control of the Trust Collateral Agent, and the
Trust Collateral Agent shall have sole signature authority with respect thereto; 
  
 (B)    any Trust Account Property that constitutes Physical Property shall be delivered to the Trust Collateral Agent in accordance with paragraph (a) of the definition of “Delivery” and
shall be held, pending maturity or disposition, solely by the Trust Collateral Agent or a financial intermediary (as such term is defined in Section 8-313(4) of the UCC) acting solely for the Trust Collateral Agent; 
  
 (C)    any Trust Account Property that is a book-entry security held through the Federal Reserve
System pursuant to Federal book-entry regulations shall be delivered in accordance with paragraph (b) of the definition of “Delivery” and shall be maintained by the Trust Collateral Agent, pending maturity or disposition,
through continued book-entry registration of such Trust Account Property as described in such paragraph; and 
  
 (D)    any Trust Account Property that is an “uncertificated security” under Article 8 of the UCC and that is not governed by clause (C) above shall be delivered to the Trust Collateral
Agent in accordance with paragraph (c) of the definition of “Delivery” and shall be maintained by the Trust Collateral Agent, pending maturity or disposition, through continued registration of the Trust Collateral
Agent’s (or its nominee’s) ownership of such security. 
  
 (g)    The Servicer shall
have the power, revocable by the Insurer or, with the consent of the Insurer by the Trustee or by the Owner Trustee with the consent of the Trustee, to instruct the Trust Collateral Agent to make withdrawals and payments from the Trust Accounts for
the purpose of permitting the Servicer and the Trust Collateral Agent to carry out its respective duties hereunder. 
  
 SECTION 5.2.    [Reserved] 
  
 SECTION
5.3.    Certain Reimbursements to the Servicer.     The Servicer will be entitled to be reimbursed from amounts on deposit in the Collection Account with respect to a Collection Period for amounts
previously deposited in the Collection Account but later determined by the Servicer to have resulted from mistaken deposits or postings or checks returned for insufficient funds. The amount to be reimbursed hereunder shall be paid to the Servicer on
the related Distribution Date pursuant to Section 5.7(a)(i) upon certification by the
 
 

 39 

 
Servicer of such amounts and the provision of such information to the Trust Collateral Agent and the Insurer as may be necessary in the opinion of the Insurer to verify the accuracy of such
certification; provided, however, that the Servicer must provide such clarification within 12 months of such mistaken deposit, posting, or returned check. In the event that the Insurer has not received evidence satisfactory to it of the
Servicer’s entitlement to reimbursement pursuant to this Section, the Insurer shall (unless an Insurer Default shall have occurred and be continuing) give the Trust Collateral Agent notice in writing to such effect, following receipt of which
the Trust Collateral Agent shall not make a distribution to the Servicer in respect of such amount pursuant to Section 5.7, or if the Servicer prior thereto has been reimbursed pursuant to Section 5.7, the Trust Collateral Agent shall withhold such
amounts from amounts otherwise distributable to the Servicer on the next succeeding Distribution Date. The Servicer will additionally be entitled to receive from amounts on deposit in the Collection Account with respect to a Collection Period any
amounts paid by Borrowers that were collected in the Lockbox Account but that do not relate to (i) principal and interest payments due on the Receivables and (ii) any fees or expenses related to extensions due on the Receivables. 

 
 SECTION 5.4.    Application of Collections.    All collections for the
Collection Period shall be applied by the Servicer as follows: 
  
 With respect to each Receivable (other than a
Purchased Receivable), payments by or on behalf of the Obligor, (other than Supplemental Servicing Fees with respect to such Receivable, to the extent collected) shall be applied to interest and principal in accordance with the Simple Interest
Method. 
  
 All amounts collected that are payable to the Servicer as Supplemental Servicing Fees hereunder shall be
deposited in the Collection Account and paid to the Servicer in accordance with Section 5.7(a). 
  
 SECTION
5.5.    Withdrawals from Spread Account. 
  
 (a)    In the event that
the Servicer’s Certificate with respect to any Determination Date shall state that there is a Deficiency Claim Amount then on the Deficiency Claim Date immediately preceding the related Insured Distribution Date, the Trust Collateral Agent
shall deliver to the Collateral Agent, the Owner Trustee, the Insurer and the Servicer, by hand delivery or facsimile transmission, a written notice (a “Deficiency Notice”) specifying the Deficiency Claim Amount for such Insured
Distribution Date and the Note Policy Claim Amount, if any. Such Deficiency Notice shall direct the Collateral Agent to remit such Deficiency Claim Amount (to the extent of the funds available to be distributed pursuant to the Spread Account
Agreement) to the Trust Collateral Agent for deposit in the Collection Account on the related Insured Distribution Date. 
  
 Any Deficiency Notice shall be delivered by 12:00 noon, Eastern time, on the fourth Business Day preceding such Insured Distribution Date. 
  
 (b)    In the event that the Preliminary Servicer’s Certificate with respect to any Preliminary Determination Date shall state that there shall be an Accelerated Payment Amount
Shortfall with respect to the related Distribution Date, then on the Business Day preceding such
 
 

 40 

 
Distribution Date, the Trust Collateral Agent shall deliver to the Collateral Agent, the Insurer and the Servicer, by hand delivery or facsimile transmission, an Accelerated Payment Shortfall
Notice. Such Accelerated Payment Shortfall Notice shall direct the Collateral Agent to remit such Accelerated Payment Amount Shortfall to the Trust Collateral Agent (to the extent of funds available to be distributed in the Spread Account) for
deposit in the Collection Account on the related Distribution Date. Any Accelerated Payment Shortfall Notice shall be delivered by 2:00 p.m. Eastern time, on the Business Day preceding such Distribution Date. 
  
 (c)    The amounts distributed by the Collateral Agent to the Trust Collateral Agent pursuant to a Deficiency Notice
or Accelerated Payment Shortfall Notice shall be deposited by the Trust Collateral Agent into the Collection Account pursuant to Section 5.6. 
  
 SECTION 5.6.    Additional Deposits. 
  
 (a)    The Servicer and the Seller, as applicable, shall deposit or cause to be deposited in the Collection Account on the Preliminary Determination Date on which such obligations are due the aggregate Purchase
Amount with respect to Purchased Receivables. On or before each Draw Date, the Trust Collateral Agent shall remit to the Collection Account any amounts delivered to the Trust Collateral Agent by the Collateral Agent. 
  
 (b)    The proceeds of any purchase or sale of the assets of the Trust described in Section 10.1 hereof shall be
deposited in the Collection Account. 
  
 SECTION 5.7.    Distributions 

 
 (a)    On each Distribution Date, the Trust Collateral Agent shall (based solely on the information
contained in the Preliminary Servicer’s Certificate delivered with respect to the related Preliminary Determination Date) distribute the following amounts from the Collection Account unless otherwise specified, to the extent of the sources of
funds stated to be available therefor, and in the following order of priority: 
  
 (i)    from the Available Funds, to the Servicer, the Base Servicing Fee for the related Collection Period, any Supplemental Servicing Fees for the related Collection Period, any amounts specified in Section 5.3,
to the extent the Servicer has not reimbursed itself in respect of such amounts pursuant to Section 5.3 and to the extent not retained by the Servicer and to pay to AmeriCredit any amounts paid by Obligors during the preceding calendar month that
did not relate to (i) principal and interest payments due on the Receivables and (ii) any fees or expenses related to extensions due on the Receivables; 
  
 (ii)    from the Available Funds, to each of the Lockbox Banks, the Trustee, the Backup Servicer and the Owner Trustee, their respective
accrued and unpaid trustees’ fees and expenses and any accrued and unpaid fees and expenses of the Trust Collateral Agent (in each case, to the extent such fees have not been previously paid by the Servicer and provided that such fees shall not
exceed (x) $100,000 in the aggregate in any calendar year to the Owner Trustee and (y) $200,000 in the aggregate in any calendar year to the Lockbox Banks, the Trust Collateral Agent, the Backup Servicer and the Trustee;
 
 

 41 

  
 (iii)    from the Available Funds to the Note
Distribution Account, the Noteholders’ Interest Distributable Amount; 
  
 (iv)    from the Available Funds to the Note Distribution Account, the Noteholders’ Principal Distributable Amount plus, on the Mandatory Redemption Date, the Note Prepayment Amount; 
  
 (v)    from the Available Funds, to the Insurer, to the extent of any amounts owing to the Insurer
under the Insurance Agreement and not paid; 
  
 (vi)    from the Available Funds
(minus the amount of Investment Earnings relating to the Collection Account (provided, that such amount so remaining after deduction of such Investment Earnings shall not be less than zero)), to the Spread Account, an amount, if necessary,
required to increase the amount therein to its then required level; 
  
 (vii)    from the Available Funds (minus the amount of Investment Earnings relating to the Collection Account (provided, that such amount so remaining after deduction of such Investment Earnings shall not
be less than zero)) and amounts, if any, received by the Trust Collateral Agent in respect of the Accelerated Payment Amount Shortfall, to the Note Distribution Account, the Noteholders’ Accelerated Principal Amount; and 

 
 (viii)    from Available Funds, any remaining Available Funds to the Collateral Agent for
deposit in the Spread Account; 
  
 provided, however, that, (A) following an acceleration
of the Notes or, (B) if an Insurer Default shall have occurred and be continuing and an Event of Default pursuant to Section 5.1(i), 5.1(ii), 5.1(iv), 5.1(v) or 5.1(vi) of the Indenture shall have occurred and be continuing, or (C) the receipt of
Insolvency Proceeds pursuant to Section 10.1(b), amounts deposited in the Note Distribution Account (including any such Insolvency Proceeds) shall be paid to the Noteholders, pursuant to Section 5.6 of the Indenture. 
  
  
 (b)    On each Insured Distribution Date, the Trust Collateral Agent shall
(based solely on the information contained in the Servicer’s Certificate delivered with respect to the related Determination Date, unless the Insurer shall have notified the Trust Collateral Agent in writing of any errors or deficiencies with
respect thereto) distribute from the Collection Account the Additional Funds Available, if any, plus the Note Policy Claim Amount, if any, in each case then on deposit in the Collection Account, and deposit in the Note Distribution Account any
excess of the Scheduled Payments (as defined in the Note Policy) due on such Insured Distribution Date over the amount of all Available Funds previously deposited in the Note Distribution Account with respect to the related Distribution Date, which
amount shall be applied solely to the payment of amounts then due and unpaid on the Notes in accordance with the priorities set forth in Section 5.8(a). 
  
 (c)    In the event that the Collection Account is maintained with an institution other than the Trust Collateral Agent, the Servicer shall instruct and cause such institution to
 
 

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make all deposits and distributions pursuant to Sections 5.7(a) and 5.7(b) on the related Distribution Date and the related Insured Distribution Date, as applicable. 
  
 SECTION 5.8.    Note Distribution Account. 
  
 (a)    On each Distribution Date (based solely on the information contained in the Preliminary Servicer’s Certificate) and each Insured
Distribution Date (based solely on the information in the Servicer’s Certificate), as applicable, the Trust Collateral Agent shall distribute all amounts on deposit in the Note Distribution Account to Noteholders in respect of the Notes to the
extent of amounts due and unpaid on the Notes for principal and interest in the following amounts and in the following order of priority: 
  
 (i)    accrued and unpaid interest on the Notes; provided that if there are not sufficient funds in the Note Distribution Account to pay the entire amount of accrued and
unpaid interest then due on each Class of Notes, the amount in the Note Distribution Account shall be applied to the payment of such interest on each Class of Notes pro rata on the basis of the amount of accrued and unpaid interest due on each Class
of Notes; 
  
 (ii)    The Principal Distributable Amount shall be distributed as
follows: 
  
 (1)    to the Holders of the Class A-1 Notes with the total amount
paid out on each Distribution Date until the outstanding principal balance of the Class A-1 Notes has been reduced to zero; 
  
 (2)    to the Holders of the Class A-2 Notes with the total amount paid out on each Distribution Date until the outstanding principal balance of the Class A-2 Notes has been reduced
to zero; 
  
 (3)    to the Holders of the Class A-3 Notes with the total amount
paid out on each Distribution Date until the outstanding principal balance of the Class A-3 Notes has been reduced to zero; and 
  
 (4)    to the Holders of the Class A-4 Notes until the outstanding principal balance of the Class A-4 Notes is reduced to zero. 
  

(b)    On each Insured Distribution Date, the Trust Collateral Agent shall send to each Noteholder the statement provided to the Trust Collateral
Agent by the Servicer pursuant to Section 5.10 hereof on such Insured Distribution Date. 
  
 (c)    In the event that any withholding tax is imposed on the Trust’s payment (or allocations of income) to a Noteholder, such tax shall reduce the amount otherwise distributable to the Noteholder in
accordance with this Section. The Trust Collateral Agent is hereby authorized and directed to retain from amounts otherwise distributable to the Noteholders sufficient funds for the payment of any tax attributable to the Trust (but such
authorization shall not prevent the Trust Collateral Agent from contesting any such tax in appropriate proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings). The amount of any withholding tax
imposed with respect to a Noteholder shall be treated as cash distributed to such Noteholder at the time it is withheld by the Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with
respect to a distribution (such as a distribution to a non-US Noteholder), the Trust Collateral
 
 

 43 

 
Agent may in its sole discretion withhold such amounts in accordance with this clause (c). In the event that a Noteholder wishes to apply for a refund of any such withholding tax, the Trust
Collateral Agent shall reasonably cooperate with such Noteholder in making such claim so long as such Noteholder agrees to reimburse the Trust Collateral Agent for any out-of-pocket expenses (including legal fees and expenses) incurred.

  
 (d)    Distributions required to be made to Noteholders on any Distribution Date or any
Insured Distribution Date shall be made to each Noteholder of record on the preceding Record Date either by (i) wire transfer, in immediately available funds, to the account of such Holder at a bank or other entity having appropriate facilities
therefore, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five Business Days prior to such Distribution Date and such Holder’s Notes in the aggregate evidence a denomination of not less
than $1,000,000 or (ii) by check mailed to such Noteholder at the address of such holder appearing in the Note Register. Notwithstanding the foregoing, the final distribution in respect of any Note (whether on the Final Scheduled Distribution Date
or otherwise) will be payable only upon presentation and surrender of such Note at the office or agency maintained for that purpose by the Note Registrar pursuant to Section 2.4 of the Indenture. 
  

(e)    Subject to Section 5.1 and this section, monies received by the Trust Collateral Agent hereunder need not be segregated in any manner except
to the extent required by law and may be deposited under such general conditions as may be prescribed by law, and the Trust Collateral Agent shall not be liable for any interest thereon. 
  
 SECTION 5.9.    [Reserved]. 
  
 SECTION 5.10.    Statements to Noteholders. 
  
 (a)    On or prior to each Distribution Date, the Trust Collateral Agent shall provide each Noteholder of record (with a copy to the Insurer and the Rating Agencies) a statement setting forth at least the
following information as to the Notes to the extent applicable: 
  
 (i)    the
amount of such distribution allocable to principal of each Class of Notes; 
  
 (ii)    the amount of such distribution allocable to interest on or with respect to each Class of Notes; 
  
 (iii)    the amount of such distribution payable out of amounts withdrawn from the Spread Account or pursuant to a claim on the Note Policy; 
  
 (iv)    the Pool Balance as of the close of business on the last day of the preceding Collection
Period; 
  
 (v)    the aggregate outstanding principal amount of each Class of
the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; 
 

 44 

  
 (vi)    the amount of the Servicing Fee paid
to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; 
  
 (vii)    the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount; 
  
 (viii)    the amount of the aggregate Realized Losses, if any, for the second preceding Collection
Period; and 
  
 (ix)    the aggregate Purchase Amounts for Receivables, if any,
that were repurchased in such period. 
  
 Each amount set forth pursuant to paragraph (i), (ii), (iii), (vi) and (vii) above shall be
expressed as a dollar amount per $1,000 of the initial principal balance of the Notes (or Class thereof). 
  
 (b)    The Trust Collateral Agent will make the statements referred to in Section 5.10(a) above (and, at its option, any additional files containing the same information in an alternative format) available each
month via the Trust Collateral Agent’s internet website, which is presently located at www.jpmorgan.com/absmbs. Persons that are entitled to receive such statements but are unable to use the above website are entitled to have a paper copy
mailed to them via first class mail by calling the Trust Collateral Agent at (212) 946-3200. The Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.10(a) above are distributed in order to make such
distribution more convenient and/or more accessible to the parties entitled to receive such statements. The Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner
described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate. 
  
 SECTION 5.11.    Optional Deposits by the Insurer.    The Insurer shall at any time, and from time to time, with respect to an Insured Distribution Date, have the option (but shall not
be required, except in accordance with the terms of the Note Policy) to deliver amounts to the Trust Collateral Agent for deposit into the Collection Account for any of the following purposes: (i) to provide funds in respect of the payment of fees
or expenses of any provider of services to the Trust with respect to such Insured Distribution Date, or (ii) to include such amount to the extent that without such amount a draw would be required to be made on the Note Policy. 

 
 [Reserved] 
 

 45 

 ARTICLE VI 
  
 The Note Policy 
  
 SECTION 6.1.    Claims Under Note Policy.

  
 (a)    In the event that the Trust Collateral Agent has delivered a Deficiency Notice with
respect to any Determination Date pursuant to Section 5.5 hereof, the Trust Collateral Agent shall on the related Draw Date determine the Note Policy Claim Amount for the related Insured Distribution Date. If the Note Policy Claim Amount for such
Insured Distribution Date is greater than zero, the Trust Collateral Agent shall furnish to the Insurer no later than 12:00 noon Eastern time on the related Draw Date a completed Notice of Claim (as defined in (b) below) in the amount of the Note
Policy Claim Amount. Amounts paid by the Insurer pursuant to a claim submitted under this Section shall be deposited by the Trust Collateral Agent into the Note Distribution Account for payment to Noteholders on the related Insured Distribution
Date. 
  
 (b)    Any notice delivered by the Trust Collateral Agent to the Insurer pursuant to
subsection 6.1(a) shall specify the Note Policy Claim Amount claimed under the Note Policy and shall constitute a “Notice of Claim” under the Note Policy. In accordance with the provisions of the Note Policy, the Insurer is required
to pay to the Trust Collateral Agent the Note Policy Claim Amount properly claimed thereunder by 10:00 a.m., Eastern time, on the later of (i) the third Business Day following receipt on a Business Day of the Notice of Claim, and (ii) the applicable
Insured Distribution Date. Any payment made by the Insurer under the Note Policy shall be applied solely to the payment of the Notes, and for no other purpose. 
  
 (c)    The Trust Collateral Agent shall (i) receive as attorney-in-fact of each Noteholder any Note Policy Claim Amount from the Insurer and (ii) deposit the same in the Collection
Account for distribution to Noteholders. Any and all Note Policy Claim Amounts disbursed by the Trust Collateral Agent from claims made under the Note Policy shall not be considered payment by the Trust or from the Spread Account with respect to
such Notes, and shall not discharge the obligations of the Trust with respect thereto. The Insurer shall, to the extent it makes any payment with respect to the Notes, become subrogated to the rights of the recipients of such payments to the extent
of such payments. Subject to and conditioned upon any payment with respect to the Notes by or on behalf of the Insurer, the Trust Collateral Agent shall assign to the Insurer all rights to the payment of interest or principal with respect to the
Notes which are then due for payment to the extent of all payments made by the Insurer, and the Insurer may exercise any option, vote, right, power or the like with respect to the Notes to the extent that it has made payment pursuant to the Note
Policy. To evidence such subrogation, the Note Registrar shall note the Insurer’s rights as subrogee upon the register of Noteholders upon receipt from the Insurer of proof of payment by the Insurer of any Noteholders’ Interest
Distributable Amount or Noteholders’ Principal Distributable Amount. The foregoing subrogation shall in all cases be subject to the rights of the Noteholders to receive all Scheduled Payments (as defined in the Note Policy) in respect of the
Notes. 
  
 (d)    The Trust Collateral Agent shall keep a complete and accurate record of all
funds deposited by the Insurer into the Collection Account with respect to the Note Policy and
 
 

 46 

 
the allocation of such funds to payment of interest on and principal paid in respect of any Note. The Insurer shall have the right to inspect such records at reasonable times upon one Business
Day’s prior notice to the Trust Collateral Agent. 
  
 (e)    The Trust Collateral Agent
shall be entitled to enforce on behalf of the Noteholders the obligations of the Insurer under the Note Policy. Notwithstanding any other provision of this Agreement or any Basic Document, the Noteholders are not entitled to institute proceedings
directly against the Insurer. 
  
 SECTION 6.2.    Preference Claims Under Note Policy.

  
 (a)    In the event that the Trust Collateral Agent has received a certified copy of an order
of the appropriate court that any Scheduled Payment (as defined in the Note Policy) paid on a Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law, the Trust Collateral Agent shall so notify the Insurer,
shall comply with the provisions of the Note Policy to obtain payment by the Insurer of such avoided payment, and shall, at the time it provides notice to the Insurer, notify Holders of the Notes by mail that, in the event that any Noteholder’s
payment is so recoverable, such Noteholder will be entitled to payment pursuant to the terms of the Note Policy. The Trust Collateral Agent shall furnish to the Insurer its records evidencing the payments of principal of and interest on Notes, if
any, which have been made by the Trust Collateral Agent and subsequently recovered from Noteholders, and the dates on which such payments were made. Pursuant to the terms of the Note Policy, the Insurer will make such payment on behalf of the
Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the Order (as defined in the Note Policy) and not to the Trust Collateral Agent or any Noteholder directly (unless a Noteholder has previously paid such
payment to the receiver, conservator, debtor-in-possession or trustee in bankruptcy, in which case the Insurer will make such payment to the Trust Collateral Agent for distribution to such Noteholder upon proof of such payment reasonably
satisfactory to the Insurer). 
  
 (b)    The Trust Collateral Agent shall promptly notify the
Insurer of any proceeding or the institution of any action (of which a Responsible Officer of the Trust Collateral Agent has actual knowledge) seeking the avoidance as a preferential transfer under applicable bankruptcy, insolvency, receivership,
rehabilitation or similar law (a “Note Preference Claim”) of any distribution made with respect to the Notes. Each Noteholder, by its purchase of Notes, and the Trust Collateral Agent hereby agree that so long as an Insurer Default
shall not have occurred and be continuing, the Insurer may at any time during the continuation of any proceeding relating to a Note Preference Claim direct all matters relating to such Note Preference Claim, including, without limitation, (i) the
direction of any appeal of any order relating to any Note Preference Claim and (ii) the posting of any surety, supersedes as or performance bond pending any such appeal at the expense of the Insurer, but subject to reimbursement as provided in the
Insurance Agreement. In addition, and without limitation of the foregoing, as set forth in Section 6.1(c), the Insurer shall be subrogated to, and each Noteholder and the Trust Collateral Agent hereby delegate and assign, to the fullest extent
permitted by law, the rights of the trustee and each Noteholder in the conduct of any proceeding with respect to a Note Preference Claim, including, without limitation, all rights of any party to an adversary proceeding action with respect to any
court order issued in connection with any such Note Preference Claim. 
 

 47 

  
 SECTION 6.3.    Surrender of Note
Policy.    The Trust Collateral Agent shall surrender the Note Policy to the Insurer for cancellation upon the expiration of such policy in accordance with the terms thereof. 
  
 ARTICLE VII 
  
 The Seller 
  
 SECTION 7.1.    Representations of
Seller.    The Seller makes the following representations on which the Insurer shall be deemed to have relied in executing and delivering the Note Policy and on which the Issuer is deemed to have relied in acquiring the
Receivables and on which the Trustee, Collateral Agent, Trust Collateral Agent and Backup Servicer may rely. The representations speak as of the execution and delivery of this Agreement and as of the Closing Date Receivables, and shall survive the
sale of the Receivables to the Issuer and the pledge thereof to the Trustee pursuant to the Indenture. 
  
 (a)    Schedule of Representations.    The representations and warranties set forth on the Schedule of Representations attached hereto as Schedule B are true and correct.

  
 (b)    Organization and Good Standing.    The Seller has been duly
organized and is validly existing as a statutory trust 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 transferred to the Trust. 
  
 (c)    Due Qualification.    The Seller is duly qualified to do business, 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 Seller’s ability to transfer the Receivables and the Other Conveyed Property to the Trust
pursuant to this Agreement, or the validity or enforceability of the Receivables and the Other Conveyed Property or to perform Seller’s obligations hereunder and under the Seller’s Basic Documents. 
  
 (d)    Power and Authority.    The Seller has the power and authority to execute and
deliver this Agreement and its Basic Documents and to carry out its terms and their terms, respectively; the 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 the Trust by it and has duly authorized such sale and assignment to the Trust by all necessary action; and the execution, delivery and performance of this Agreement and the Seller’s Basic Documents have been duly authorized by
the Seller by all necessary action. 
  
 (e)    Valid Sale, Binding
Obligations.    This Agreement effects a valid sale, transfer and assignment of the Receivables and the Other Conveyed Property, enforceable against the Seller and creditors of and purchasers from the Seller; and this
Agreement and the Seller’s Basic 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
 
 

 48 

 
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 Basic Documents and the fulfillment of the terms of this Agreement and the Basic 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 trust agreement 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 its 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 Basic Documents, (B) seeking to prevent the issuance of the Securities or the consummation of any of the transactions contemplated by this Agreement or any of the Basic Documents, (C) seeking any determination or ruling
that might materially and adversely affect the performance by the Seller of its obligations under, or the validity or enforceability of, this Agreement or any of the Basic Documents, or (D) seeking to adversely affect the federal income tax or other
federal, state or local tax attributes of the Securities. 
  
 (h)    True
Sale.    The Receivables are being transferred with the intention of removing them from the 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 the Seller is at
E.A. Delle Donne Corporate Center, Montgomery Building, 1011 Centre Road, Suite 200, Wilmington, Delaware 19805-1266. 
  
 SECTION 7.2.    Certain Business Conduct 
  
 (a)    The Seller shall at all times maintain or cause to be maintained the following procedures to avoid or minimize any risk of substantive consolidation of the assets and liabilities of the Seller and its
Affiliates or any other Person: (i) maintenance of books of account and records, bank accounts and assets separate from those of any Person; (ii) filing or causing to be filed tax returns separate from those of its Affiliates (except to the extent
required or permitted by applicable law, rule or regulation to be included in a consolidated or unitary group, as appropriate); (iii) except as required or specifically provided in this Agreement, conducting business with Affiliates of the Owner
Trustee on an arm’s-length basis; (iv) observance of trust (or similar organizational) formalities; (v) holding the Seller out to the public as a legal entity separate and distinct from any of the Owner Trustee’s Affiliates and from
 
 

 49 

 
AFS Funding Corp. or any Affiliate thereof; and (vi) paying from its assets all obligations and indebtedness of any kind incurred by the Seller. The Seller shall act solely in its own name
through the Owner Trustee, any co-trustee (in accordance with the terms and conditions of Section 6.06 hereof) or the Administrator (in accordance with the terms of the Administration Agreement) or other agents in the conduct of its businesses in
accordance with this Agreement except to the extent required by the laws of any applicable jurisdiction. 
  
 (b)    The Seller shall conduct its business through the office of the Owner Trustee and will use stationery and other business forms under its own name and not that of AFS Funding Corp. or any Affiliate thereof
and will use its best efforts to avoid the appearance of conducting business on behalf of AFS Funding Corp. or any Affiliate thereof or that the assets of the Seller are available to pay the creditors of AFS Funding Corp. or any Affiliate thereof.

  
 (c)    Nothing in this Section 7.2 shall restrict the authority of the Seller to authorize
the Servicer to act in the name or on behalf of the Seller when authorized by any of the Basic Documents, including pursuant to the limited power of attorney granted by the Seller to the Servicer pursuant to the Administration Agreement.

  
 SECTION 7.3.    Liability of Seller; Indemnities.    The Seller
shall be liable in accordance herewith only to the extent of the obligations specifically undertaken by the Seller under this Agreement. 
  
 (a)    The Seller shall indemnify, defend and hold harmless the Issuer, the Owner Trustee, the Trust, the Insurer, the Trustee, Backup Servicer, the Collateral Agent and the Trust Collateral Agent and its
officers, directors, employees and agents from and against any taxes that may at any time be asserted against any such Person with respect to the transactions contemplated in this Agreement and any of the Basic Documents (except any income taxes
arising out of fees paid to the Owner Trustee, the Trust Collateral Agent, the Trustee and the Insurer and except any taxes to which the Owner Trustee, the Trust Collateral Agent or the Trustee may otherwise be subject to, without regard to the
transactions contemplated hereby), including any sales, gross receipts, general corporation, tangible personal property, privilege or license taxes (but, in the case of the Issuer, not including any taxes asserted with respect to, federal or other
income taxes arising out of distributions on the Notes) and costs and expenses in defending against the same. 
  
 (b)    The Seller shall indemnify, defend and hold harmless the Issuer, the Owner Trustee, the Trustee, Backup Servicer, the Collateral Agent and the Trust Collateral Agent and the officers, directors, employees
and agents thereof, the Insurer and the Noteholders from and against any loss, liability or expense incurred by reason of (i) the Seller’s willful misfeasance, bad faith or negligence in the performance of its duties under this Agreement, or by
reason of reckless disregard of its obligations and duties under this Agreement and (ii) the Seller’s or the Issuer’s violation of federal or state securities laws in connection with the offering and sale of the Notes. 

 
 (c)    The Seller shall indemnify, defend and hold harmless the Owner Trustee, Trustee, Trust Collateral
Agent, Collateral Agent and Backup Servicer and the officers, directors, employees and agents thereof from and against any and all costs, expenses, losses, claims,
 
 

 50 

 
damages and liabilities arising out of, or incurred in connection with the acceptance or performance of the trusts and duties set forth herein and in the Basic Documents 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 the Owner Trustee, Trustee, Trust Collateral Agent, Collateral Agent and Backup Servicer
respectively. 
  
 Indemnification under this Section shall survive the resignation or removal of the Owner Trustee,
the Trustee or the Trust Collateral Agent and the termination of this Agreement or the Indenture or the Trust Agreement, as applicable, and shall include reasonable fees and expenses of counsel and other expenses of litigation. If the Seller shall
have made any indemnity payments pursuant to this Section and the Person to or on behalf of whom such payments are made thereafter shall collect any of such amounts from others, such Person shall promptly repay such amounts to the Seller, without
interest. 
  
 SECTION 7.4.    Merger or Consolidation of, or Assumption of the Obligations of,
Seller.    Any Person (a) into which the Seller may be merged or consolidated, (b) which may result from any merger or consolidation to which the Seller shall be a party or (c) which may succeed to the properties and assets
of the Seller substantially as a whole, which Person in any of the foregoing cases executes an agreement of assumption to perform every obligation of the Seller under this Agreement, shall be the successor to the Seller hereunder without the
execution or filing of any document or any further act by any of the parties to this Agreement; provided, however, that (i) the Seller shall have received the written consent of the Insurer prior to entering into any such transaction,
(ii) immediately after giving effect to such transaction, no representation or warranty made pursuant to Section 3.1 shall have been breached and no Servicer Termination Event, and no event which, after notice or lapse of time, or both, would become
a Servicer Termination Event shall have happened and be continuing, (iii) the Seller shall have delivered to the Owner Trustee, the Trust Collateral Agent, the Trustee and the Insurer a Certificate signed by or on behalf of the Seller and an Opinion
of Counsel each stating that such consolidation, merger or succession and such agreement of assumption comply with this Section and that all conditions precedent, if any, provided for in this Agreement relating to such transaction have been complied
with, (iv) the Rating Agency Condition shall have been satisfied with respect to such transaction and (v) the Seller shall have delivered to the Owner Trustee, the Trust Collateral Agent, the Backup Servicer, the Collateral Agent, the Trustee and
the Insurer an Opinion of Counsel stating that, 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 fully to preserve and protect the
interest of the Trust Collateral Agent, the Owner Trustee and the Trustee, respectively, in the Receivables and reciting the details of such filings or (B) no such action shall be necessary to preserve and protect such interest. Notwithstanding
anything herein to the contrary, the execution of the foregoing agreement of assumption and compliance with clauses (i), (ii), (iii), (iv) and (v) above shall be conditions to the consummation of the transactions referred to in clauses (a), (b) or
(c) above. 
  
 SECTION 7.5.    Limitation on Liability of Seller and
Others.    The Seller and any employee or agent of the Seller 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 any Basic Document. The Seller shall not be under any obligation to
 
 

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appear in, prosecute or defend any legal action that shall not be incidental to its obligations under this Agreement, and that in its opinion may involve it in any expense or liability.

  
 SECTION 7.6.    Ownership of the Certificates or Notes.    The
Seller and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Certificates or Notes with the same rights as it would have if it were not the Seller or an Affiliate thereof, except as expressly provided
herein or in any Basic Document. Notes or Certificates so owned by the Seller or such Affiliate shall have an equal and proportionate benefit under the provisions of the Basic Documents, without preference, priority, or distinction as among all of
the Notes or Certificates; provided, however, that any Notes or Certificates owned by the Seller or any Affiliate thereof, during the time such Notes or Certificates are owned by them, shall be without voting rights for any purpose set forth
in the Basic Documents and will not be entitled to the benefits of the Note Policy. The Seller shall notify the Owner Trustee, the Trustee, the Trust Collateral Agent and the Insurer with respect to any other transfer of any Certificate.

  
 ARTICLE VIII 
  
 The Servicer 
  
 SECTION
8.1.    Representations of Servicer.    The Servicer makes the following representations on which the Insurer shall be deemed to have relied in executing and delivering the Note Policy and on which the
Issuer is deemed to have relied in acquiring the Receivables. The representations speak as of the execution and delivery of this Agreement and as of the Closing Date Receivables, and shall survive the sale of the Receivables to the Issuer and the
pledge thereof to the Trustee pursuant to the Indenture. 
  
 (a)    Representations and
Warranties.    The representations and warranties set forth on the Schedule of Representations attached hereto as Schedule B are true and correct, provided that such representations and warranties contained therein and herein
shall not apply to any entity other than AmeriCredit; 
  
 (b)    Organization and Good
Standing.    The Servicer has been duly organized and is validly existing and in good standing under the laws of its jurisdiction of organization, with power, authority and legal right 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 enter into and perform its obligations under this Agreement; 

 
 (c)    Due Qualification.    The Servicer is duly qualified to do business as a
foreign corporation in good standing and has obtained all necessary licenses and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business (including the servicing of the Receivables as required by
this Agreement) requires or shall require such qualification; 
  
 (d)    Power and
Authority.    The Servicer has the power and authority to execute and deliver this Agreement and its Basic Documents and to carry out its terms and their terms,
 
 

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respectively, and the execution, delivery and performance of this Agreement and the Servicer’s Basic Documents have been duly authorized by the Servicer by all necessary corporate action;

  
 (e)    Binding Obligation.    This Agreement and the
Servicer’s Basic Documents shall constitute legal, valid and binding obligations of the Servicer 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 Servicer’s Basic Documents, and the fulfillment of the terms of this Agreement and the Servicer’s Basic Documents, shall not conflict with, result in any breach of any of the terms and provisions of,
or constitute (with or without notice or lapse of time) a default under, the articles of incorporation or bylaws of the Servicer, or any indenture, agreement, mortgage, deed of trust or other instrument to which the Servicer 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 Servicer of any court or of any federal or state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Servicer or any of its properties; 

 
 (g)    No Proceedings.    There are no proceedings or investigations pending or,
to the Servicer’s knowledge, threatened against the Servicer, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over the Servicer or its properties (A) asserting the
invalidity of this Agreement or any of the Basic Documents, (B) seeking to prevent the issuance of the Securities or the consummation of any of the transactions contemplated by this Agreement or any of the Basic Documents, or (C) seeking any
determination or ruling that might materially and adversely affect the performance by the Servicer of its obligations under, or the validity or enforceability of, this Agreement or any of the Basic Documents or (D) seeking to adversely affect the
federal income tax or other federal, state or local tax attributes of the Securities; 
  
 (h)    No Consents.    The Servicer is not required to obtain the consent of any other party or any consent, license, approval or authorization, or registration or declaration with, any
governmental authority, bureau or agency in connection with the execution, delivery, performance, validity or enforceability of this Agreement which has not already been obtained. 
  
 SECTION 8.2.    Liability of Servicer; Indemnities. 
  
 (a)    The Servicer (in its capacity as such) shall be liable hereunder only to the extent of the obligations in this Agreement specifically undertaken by the Servicer and the
representations made by the Servicer. 
  
 (b)    The Servicer shall defend, indemnify and hold
harmless the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, the Backup Servicer, the Insurer, their respective officers, directors, agents and employees, and the Noteholders from and against any
 
 

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and all costs, expenses, losses, damages, claims and liabilities, including reasonable fees and expenses of counsel and expenses of litigation arising out of or resulting from the use, ownership
or operation by the Servicer or any Affiliate thereof of any Financed Vehicle; 
  
 (c)    The
Servicer (when the Servicer is AmeriCredit) shall indemnify, defend and hold harmless the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, the Backup Servicer, the Insurer, their respective officers, directors, agents and employees
and the Noteholders from and against any taxes that may at any time be asserted against any of such parties with respect to the transactions contemplated in this Agreement, including, without limitation, any sales, gross receipts, tangible or
intangible personal property, privilege or license taxes (but not including any federal or other income taxes, including franchise taxes asserted with respect to, and as of the date of, the sale of the Receivables and the Other Conveyed Property to
the Trust or the issuance and original sale of the Securities) and costs and expenses in defending against the same; 
  
 The Servicer (when the Servicer is not AmeriCredit) shall indemnify, defend and hold harmless the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, the Backup Servicer, the Insurer, their respective officers,
directors, agents and employees and the Noteholders from and against any taxes with respect to the sale of Receivables in connection with servicing hereunder that may at any time be asserted against any of such parties with respect to the
transactions contemplated in this Agreement, including, without limitation, any sales, gross receipts, tangible or intangible personal property, privilege or license taxes (but not including any federal or other income taxes, including franchise
taxes asserted with respect to, and as of the date of, the sale of the Receivables and the Other Conveyed Property to the Trust or the issuance and original sale of the Securities) and costs and expenses in defending against the same; and

  
 (d)    The Servicer shall indemnify, defend and hold harmless the Trust, the Trustee, the
Trust Collateral Agent, the Owner Trustee, the Backup Servicer, the Insurer, their respective officers, directors, agents and employees and the Noteholders 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 the Trust, the Trustee, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer, the Insurer or the Noteholders by reason of the breach of
this Agreement by the Servicer, the negligence, misfeasance, or bad faith of the Servicer in the performance of its duties under this Agreement or by reason of reckless disregard of its obligations and duties under this Agreement. 

 
 (e)    AmeriCredit shall indemnify, defend and hold harmless the Trust, the Trustee, the Trust Collateral
Agent, the Owner Trustee, the Backup Servicer, the Insurer, their respective officers, directors, agents and employees and the Noteholders from and against any loss, liability or expense incurred by reason of the violation by Servicer or Seller of
federal or state securities laws in connection with the registration or the sale of the Securities. This section shall survive the termination of this Agreement, or the earlier removal or resignation of the Trustee, Trust Collateral Agent, Backup
Servicer or the Collateral Agent. 
  
 (f)    AmeriCredit shall indemnify the Trustee, the Owner
Trustee, the Trust Collateral Agent, and the Backup Servicer, the Collateral Agent, and the respective officers,
 
 

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directors, agents and employees thereof against any and all loss, liability or expense, (other than overhead and expenses incurred in the normal course of business) incurred by each of them in
connection with the acceptance or administration of the Trust and the performance of their duties under the Basic Documents other than if such loss, liability or expense was incurred by the Trustee, the Owner Trustee or the Trust Collateral Agent or
the Collateral Agent as a result of any such entity’s willful misconduct, bad faith or negligence. 
  
 (g)    Indemnification under this Article shall include, without limitation, reasonable fees and expenses of counsel and expenses of litigation. If the Servicer has made any indemnity payments pursuant to this
Article and the recipient thereafter collects any of such amounts from others, the recipient shall promptly repay such amounts collected to the Servicer, without interest. 
  
 SECTION 8.3.    Merger or Consolidation of, or Assumption of the Obligations of the Servicer or Backup Servicer. 
  
 (a)    AmeriCredit shall not merge or consolidate with any other person, convey, transfer or lease substantially all
its assets as an entirety to another Person, or permit any other Person to become the successor to AmeriCredit’s business unless, after the merger, consolidation, conveyance, transfer, lease or succession, the successor or surviving entity
shall be capable of fulfilling the duties of AmeriCredit contained in this Agreement and shall be acceptable to the Controlling Party, and, if an Insurer Default shall have occurred and be continuing, shall be an Eligible Servicer. Any corporation
(i) into which AmeriCredit may be merged or consolidated, (ii) resulting from any merger or consolidation to which AmeriCredit shall be a party, (iii) which acquires by conveyance, transfer, or lease substantially all of the assets of AmeriCredit,
or (iv) succeeding to the business of AmeriCredit, in any of the foregoing cases shall execute an agreement of assumption to perform every obligation of AmeriCredit under this Agreement and, whether or not such assumption agreement is executed,
shall be the successor to AmeriCredit under this Agreement without the execution or filing of any paper or any further act on the part of any of the parties to this Agreement, anything in this Agreement to the contrary notwithstanding; provided,
however, that nothing contained herein shall be deemed to release AmeriCredit from any obligation. AmeriCredit shall provide notice of any merger, consolidation or succession pursuant to this Section to the Owner Trustee, the Trust Collateral
Agent, the Noteholders, the Insurer and each Rating Agency. Notwithstanding the foregoing, AmeriCredit shall not merge or consolidate with any other Person or permit any other Person to become a successor to AmeriCredit’s business, unless (x)
immediately after giving effect to such transaction, no representation or warranty made pursuant to Section 4.6 shall have been breached (for purposes hereof, such representations and warranties shall speak as of the date of the consummation of such
transaction) and no event that, after notice or lapse of time, or both, would become an Insurance Agreement Event of Default shall have occurred and be continuing, (y) AmeriCredit shall have delivered to the Owner Trustee, the Trust Collateral
Agent, Trustee, Backup Servicer and Collateral Agent, the Rating Agencies and the Insurer an Officer’s Certificate and an Opinion of Counsel each stating that such consolidation, merger or succession and such agreement of assumption comply with
this Section and that all conditions precedent, if any, provided for in this Agreement relating to such transaction have been complied with, and (z) AmeriCredit shall have delivered to the Owner Trustee, the Trust Collateral Agent, the Rating
Agencies and the Insurer an Opinion of Counsel, stating in the opinion of such counsel, either
 
 

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(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 Trust in the
Receivables and the Other Conveyed Property and reciting the details of the filings or (B) no such action shall be necessary to preserve and protect such interest. 
  
 (b)    Any corporation (i) into which the Backup Servicer may be merged or consolidated, (ii) resulting from any merger or consolidation to which the
Backup Servicer shall be a party, (iii) which acquires by conveyance, transfer or lease substantially all of the assets of the Backup Servicer, or (iv) succeeding to the business of the Backup Servicer, in any of the foregoing cases shall execute an
agreement of assumption to perform every obligation of the Backup Servicer under this Agreement and, whether or not such assumption agreement is executed, shall be the successor to the Backup Servicer under this Agreement without the execution or
filing of any paper or any further act on the part of any of the parties to this Agreement, anything in this Agreement to the contrary notwithstanding; provided, however, that nothing contained herein shall be deemed to release the Backup Servicer
from any obligation. 
  
 SECTION 8.4.    Limitation on Liability of Servicer, Backup Servicer
and Others. 
  
 (a)    Neither AmeriCredit, the Backup Servicer nor any of the directors or
officers or employees or agents of AmeriCredit or Backup Servicer shall be under any liability to the Trust or the Noteholders, except as provided in this Agreement, for any action taken or for refraining from the taking of any action pursuant to
this Agreement; provided, however, that this provision shall not protect AmeriCredit, the Backup Servicer or any such person against any liability that would otherwise be imposed by reason of a breach of this Agreement or willful
misfeasance, bad faith or negligence (excluding errors in judgment) in the performance of duties; provided further that this provision shall not affect any liability to indemnify the Trust Collateral Agent and the Owner Trustee for costs, taxes,
expenses, claims, liabilities, losses or damages paid by the Trust Collateral Agent and the Owner Trustee, in their individual capacities. AmeriCredit, the Backup Servicer and any director, officer, employee or agent of AmeriCredit or Backup
Servicer may rely in good faith on the written 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. 
  
 (b)    The Backup Servicer shall not be liable for any obligation of the Servicer contained in this Agreement or for
any errors of the Servicer contained in any computer tape, certificate or other data or document delivered to the Backup Servicer hereunder or on which the Backup Servicer must rely in order to perform its obligations hereunder, and the Owner
Trustee, the Trustee, the Trust Collateral Agent, the Collateral Agent, the Backup Servicer, the Seller and the Insurer and the Noteholders shall look only to the Servicer to perform such obligations. The Backup Servicer, Trust Collateral Agent, the
Collateral Agent, the Trustee, the Owner Trustee and the Custodian shall have no responsibility and shall not be in default hereunder or incur any liability for any failure, error, malfunction or any delay in carrying out any of their respective
duties under this Agreement if such failure or delay results from the Backup Servicer acting in accordance with information prepared or supplied by a Person other than the Backup Servicer (or contractual agents) or the failure of any such other
Person to prepare or provide such information. The Backup Servicer shall have no responsibility, shall not be in default and shall
 
 

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incur no liability for (i) any act or failure to act of any third party (other than its contractual agents), including the Servicer or the Controlling Party, (ii) any inaccuracy or omission in a
notice or communication received by the Backup Servicer from any third party (other than its contractual agents), (iii) the invalidity or unenforceability of any Receivable under applicable law, (iv) the breach or inaccuracy of any representation or
warranty made with respect to any Receivable, or (v) the acts or omissions of any successor Backup Servicer. 
  
 (c)    The parties expressly acknowledge and consent to JPMorgan Chase Bank acting in the possible dual capacity of Backup Servicer or successor Servicer and in the capacity as Trust Collateral Agent. JPMorgan
Chase Bank may, in such dual or other capacity, discharge its separate functions fully, without hindrance or regard to conflict of interest principles, duty of loyalty principles or other breach of fiduciary duties to the extent that any such
conflict or breach arises from the performance by JPMorgan Chase Bank of express duties set forth in the this Agreement in any of such capacities, all of which defenses, claims or assertions are hereby expressly waived by the other parties hereto
and the Noteholders except in the case of gross negligence and willful misconduct by JPMorgan Chase Bank. 
  
 SECTION
8.5.    Delegation of Duties.    The Servicer may delegate duties under this Agreement to an Affiliate of AmeriCredit with the prior written consent of the Insurer (unless an Insurer Default shall have
occurred and be continuing), the Trust Collateral Agent, the Owner Trustee and the Backup Servicer. The Servicer also may at any time perform through sub-contractors the specific duties of (i) repossession of Financed Vehicles, (ii) tracking
Financed Vehicles’ insurance and (iii) pursuing the collection of deficiency balances on certain Liquidated Receivables, in each case, without the consent of the Insurer and may perform other specific duties through such sub-contractors in
accordance with Servicer’s customary servicing policies and procedures, with the prior consent of the Insurer; provided, however, that no such delegation or sub-contracting duties by the Servicer shall relieve the Servicer of its
responsibility with respect to such duties. So long as no Insurer Default shall have occurred and be continuing neither AmeriCredit or any party acting as Servicer hereunder shall appoint any subservicer hereunder without the prior written consent
of the Insurer, the Trustee and the Backup Servicer. 
  
 SECTION 8.6.    Servicer and Backup
Servicer Not to Resign.    Subject to the provisions of Section 8.3, neither the Servicer nor the Backup Servicer shall resign from the obligations and duties imposed on it by this Agreement as Servicer or Backup Servicer
except upon a determination that by reason of a change in legal requirements the performance of its duties under this Agreement would cause it to be in violation of such legal requirements in a manner which would have a material adverse effect on
the Servicer or the Backup Servicer, as the case may be, and the Insurer (so long as an Insurer Default shall not have occurred and be continuing) or a Note Majority (if an Insurer Default shall have occurred and be continuing) does not elect to
waive the obligations of the Servicer or the Backup Servicer, as the case may be, to perform the duties which render it legally unable to act or to delegate those duties to another Person. Any such determination permitting the resignation of the
Servicer or Backup Servicer shall be evidenced by an Opinion of Counsel to such effect delivered and acceptable to the Trust Collateral Agent, the Owner Trustee and the Insurer (unless an Insurer Default shall have occurred and be continuing). No
resignation of the Servicer shall become effective until, so long as no Insurer Default shall have occurred and be continuing the Backup Servicer or an entity acceptable to the Insurer shall have assumed the responsibilities and obligations of the
Servicer 
 

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or, if an Insurer Default shall have occurred and be continuing, the Backup Servicer or a successor Servicer that is an Eligible Servicer shall have assumed the responsibilities and obligations
of the Servicer. No resignation of the Backup Servicer shall become effective until, so long as no Insurer Default shall have occurred and be continuing, an entity acceptable to the Insurer shall have assumed the responsibilities and obligations of
the Backup Servicer or, if an Insurer Default shall have occurred and be continuing a Person that is an Eligible Servicer shall have assumed the responsibilities and obligations of the Backup Servicer; provided, however, that (i) in the event
a successor Backup Servicer is not appointed within 60 days after the Backup Servicer has given notice of its resignation and has provided the Opinion of Counsel required by this Section, the Backup Servicer may petition a court for its removal,
(ii) the Backup Servicer may resign with the written consent of the Insurer and (iii) if JPMorgan Chase Bank resigns as the Trustee under the Indenture it will no longer be the Backup Servicer. 
  

ARTICLE IX 
  
 Default 

 
 SECTION 9.1.    Servicer Termination Event.    For purposes of this Agreement,
each of the following shall constitute a “Servicer Termination Event”: 
  
 (a)    Any failure by the Servicer to deliver to the Trust Collateral Agent for distribution to Noteholders any proceeds or payment required to be so delivered under the terms of this Agreement that continues
unremedied for a period of two Business Days (one Business Day with respect to payment of Purchase Amounts) after written notice is received by the Servicer from the Trust Collateral Agent or (unless an Insurer Default shall have occurred and be
continuing) the Insurer or after discovery of such failure by a Responsible Officer of the Servicer; 
  
 (b)    Failure by the Servicer to deliver to the Trust Collateral Agent and (so long as an Insurer Default shall not have occurred and be continuing) the Insurer the Servicer’s Certificate by the fourth
Business Day prior to the Insured Distribution Date, or failure on the part of the Servicer to observe its covenants and agreements set forth in Section 8.3(a); 
  
 (c)    Failure on the part of the Servicer duly to observe or perform any other covenants or agreements of the Servicer set forth in this Agreement, which failure (i) materially and
adversely affects the rights of Noteholders (determined without regard to the availability of funds under the Note Policy), or of the Insurer (unless an Insurer Default shall have occurred and be continuing), and (ii) continues unremedied for a
period of 30 days after knowledge thereof by the Servicer or after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Servicer by the Trust Collateral Agent or the Insurer (or, if an
Insurer Default shall have occurred and be continuing by any Noteholder); 
  
 (d)    The entry of
a decree or order for relief by a court or regulatory authority having jurisdiction in respect of the Servicer in an involuntary case under the federal bankruptcy laws, as now or hereafter in effect, or another present or future, federal bankruptcy,
insolvency or similar law, or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other
 
 

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 similar official of the Servicer or of any substantial part of its property or ordering the winding up or liquidation of the affairs of the
Servicer and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days or the commencement of an involuntary case under the federal bankruptcy laws, as now or hereinafter in effect, or another present or
future federal or state bankruptcy, insolvency or similar law and such case is not dismissed within 60 days; or 
  
 (e)    The commencement by the Servicer of a voluntary case under the federal bankruptcy laws, as now or hereafter in effect, or any other present or future, federal or state, bankruptcy, insolvency or similar
law, or the consent by the Servicer to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Servicer or of any substantial part of its property or the making
by the Servicer of an assignment for the benefit of creditors or the failure by the Servicer generally to pay its debts as such debts become due or the taking of corporate action by the Servicer in furtherance of any of the foregoing; or

  
 (f)    Any representation, warranty or statement of the Servicer made in this Agreement or
any certificate, report or other writing delivered pursuant hereto shall prove to be incorrect in any material respect as of the time when the same shall have been made, and the incorrectness of such representation, warranty or statement has a
material adverse effect on the Trust or the Noteholders and, within 30 days after knowledge thereof by the Servicer or after written notice thereof shall have been given to the Servicer by the Trust Collateral Agent or the Insurer (or, if an Insurer
Default shall have occurred and be continuing, a Noteholder), the circumstances or condition in respect of which such representation, warranty or statement was incorrect shall not have been eliminated or otherwise cured; or 
  
 (g)    So long as an Insurer Default shall not have occurred and be continuing, the Insurer shall not have delivered a
Servicer Extension Notice pursuant to Section 4.14; or 
  
 (h)    So long as an Insurer Default
shall not have occurred and be continuing, an Insurance Agreement Event of Default occurs or an Event of Default under any other Insurance and Indemnity Agreement relating to any other Series shall have occurred; or 
  
 (i)    A claim is made under the Note Policy. 
  
 SECTION 9.2.    Consequences of a Servicer Termination Event.    If a Servicer Termination Event shall occur and be
continuing, the Insurer (or, if an Insurer Default shall have occurred and be continuing either the Trust Collateral Agent, (to the extent it has knowledge thereof) a Note Majority), by notice given in writing to the Servicer (and to the Trust
Collateral Agent if given by the Insurer or the Noteholders) or by non-extension of the term of the Servicer as referred to in Section 4.14 may terminate all of the rights and obligations of the Servicer under this Agreement. On or after the receipt
by the Servicer of such written notice or upon termination of the term of the Servicer, all authority, power, obligations and responsibilities of the Servicer under this Agreement, whether with respect to the Notes, the Certificates or the Other
Conveyed Property or otherwise, automatically shall pass to, be vested in and become obligations and responsibilities of the Backup Servicer (or such other successor Servicer appointed by the Controlling Party); provided, however, that the
successor Servicer shall have no 
 

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 liability with respect to any obligation which was required to be performed by the terminated Servicer prior to the date that the successor
Servicer becomes the Servicer or any claim of a third party based on any alleged action or inaction of the terminated Servicer. The successor Servicer is authorized and empowered by this Agreement to execute and deliver, on behalf of the terminated
Servicer, as attorney-in-fact or otherwise, any and all documents and other instruments and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer
and endorsement of the Receivables and the Other Conveyed Property and related documents to show the Trust as lienholder or secured party on the related Lien Certificates, or otherwise. The terminated Servicer agrees to cooperate with the successor
Servicer in effecting the termination of the responsibilities and rights of the terminated Servicer under this Agreement, including, without limitation, the transfer to the successor Servicer for administration by it of all cash amounts that shall
at the time be held by the terminated Servicer for deposit, or have been deposited by the terminated Servicer, in the Collection Account or thereafter received with respect to the Receivables and the delivery to the successor Servicer of all
Receivable Files, Monthly Records and Collection Records and a computer tape in readable form as of the most recent Business Day containing all information necessary to enable the successor Servicer or a successor Servicer to service the Receivables
and the Other Conveyed Property. If requested by the Controlling Party, the successor Servicer shall terminate the Lockbox Agreement and direct the Obligors to make all payments under the Receivables directly to the successor Servicer (in which
event the successor Servicer shall process such payments in accordance with Section 4.2(e)), or to a lockbox established by the successor Servicer at the direction of the Controlling Party, at the successor Servicer’s expense. The terminated
Servicer shall grant the Trust Collateral Agent, the successor Servicer and the Controlling Party reasonable access to the terminated Servicer’s premises at the terminated Servicer’s expense. 
  
 SECTION 9.3.    Appointment of Successor. 
  
 (a)    On and after the time the Servicer receives a notice of termination pursuant to Section 9.2, upon non-extension of the servicing term as referred
to in Section 4.14, or upon the resignation of the Servicer pursuant to Section 8.6, the Backup Servicer (unless the Insurer shall have exercised its option pursuant to Section 9.3(b) to appoint an alternate successor Servicer) shall be the
successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities
and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated herein. The Trust Collateral Agent and such successor shall take such action, consistent with this Agreement,
as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to term-to-term servicing as referred to in Section 4.14 and to termination under Section 9.2 upon the occurrence
of any Servicer Termination Event applicable to it as Servicer. 
  
 (b)    The Controlling Party
may exercise at any time its right to appoint as Backup Servicer or as successor to the Servicer a Person other than the Person serving as Backup Servicer at the time, and (without limiting its obligations under the Note Policy) shall have no
liability to the Trust Collateral Agent, AmeriCredit, the Seller, the Person then serving as Backup Servicer, any Noteholders or any other Person if it does so. Notwithstanding the above, if the 
 

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 Backup Servicer shall be legally unable or unwilling to act as Servicer, and an Insurer Default shall have occurred and be continuing, the
Backup Servicer, the Trust Collateral Agent or a Note Majority may petition a court of competent jurisdiction to appoint any Eligible Servicer as the successor to the Servicer. Pending appointment pursuant to the preceding sentence, the Backup
Servicer shall act as successor Servicer unless it is legally unable to do so, in which event the outgoing Servicer shall continue to act as Servicer until a successor has been appointed and accepted such appointment. Subject to Section 8.6, no
provision of this Agreement shall be construed as relieving the Backup Servicer of its obligation to succeed as successor Servicer upon the termination of the Servicer pursuant to Section 9.2, the resignation of the Servicer pursuant to Section 8.6
or the non-extension of the servicing term of the Servicer, as referred to in Section 4.14. If upon the termination of the Servicer pursuant to Section 9.2 or the resignation of the Servicer pursuant to Section 8.6, the Controlling Party appoints a
successor Servicer other than the Backup Servicer, the Backup Servicer shall not be relieved of its duties as Backup Servicer hereunder. 
  
 (c)    Any successor Servicer shall be entitled to such compensation (whether payable out of the Collection Account or otherwise) as the Servicer would have been entitled to under this Agreement if the
Servicer had not resigned or been terminated hereunder. If any successor Servicer is appointed as a result of the Backup Servicer’s refusal (in breach of the terms of this Agreement) to act as Servicer although it is legally able to do so, the
Insurer and such successor Servicer may agree on reasonable additional compensation to be paid to such successor Servicer by the Backup Servicer, which additional compensation shall be paid by such breaching Backup Servicer in its individual
capacity and solely out of its own funds; provided, however, it being understood and agreed that the Insurer shall give prior notice to the Backup Servicer with respect to the appointment of such successor and the payment of additional
compensation, if any. If any successor Servicer is appointed for any reason other than the Backup Servicer’s refusal to act as Servicer although legally able to do so, the Insurer and such successor Servicer may agree on additional compensation
to be paid to such successor Servicer, which additional compensation shall be payable as provided in the Spread Account Agreement and shall in no event exceed $150,000 in the aggregate. If, any successor Servicer is appointed for any reason other
than the Backup Servicer’s refusal to act as Servicer although legally able to do so, the Backup Servicer shall not be liable for any Servicing Fee, additional compensation or other amounts to be paid to such successor Servicer in connection
with its assumption and performance of the servicing duties described herein. 
  
 SECTION
9.4.    Notification to Noteholders.    Upon any termination of, or appointment of a successor to, the Servicer, the Trust Collateral Agent shall give prompt written notice thereof to each Noteholder
and to the Rating Agencies. 
  
 SECTION 9.5.    Waiver of Past
Defaults.    So long as no Insurer Default shall have occurred and be continuing, the Insurer (or, if an Insurer Default shall have occurred and be continuing, the Note Majority) may, on behalf of all Noteholders, waive any
default by the Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Termination Event arising therefrom shall be deemed to have
been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereto. 
 

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 ARTICLE X 
  
 Termination 
  
 SECTION
10.1.    Optional Purchase of All Receivables. 
  
 (a)    On the last
day of any Collection Period as of which the Pool Balance shall be less than or equal to 10% of the Original Pool Balance, the Servicer and the Seller each shall have the option to purchase the Owner Trust Estate, other than the Trust Accounts (with
the consent of the Insurer if such purchase would result in a claim on the Note Policy or would result in any amount owing to the Insurer under the Insurance Agreement remaining unpaid); provided, however, that the amount to be paid for such
purchase (as set forth in the following sentence) shall be sufficient to pay the full amount of principal, premium, if any, and interest then due and payable on the Notes. To exercise such option, the Servicer or the Seller, as the case may be,
shall deposit pursuant to Section 5.6 in the Collection Account an amount equal to the aggregate Purchase Amount for the Receivables (including Liquidated Receivables), plus the appraised value of any other property held by the Trust, such value to
be determined by an appraiser mutually agreed upon by the Servicer, the Insurer and the Trust Collateral Agent, and shall succeed to all interests in and to the Trust. 
  
 (b)    Upon any sale of the assets of the Trust pursuant to Section 8.1 of the Trust Agreement, the Servicer shall instruct the Trust Collateral Agent
to deposit the proceeds from such sale after all payments and reserves therefrom (including the expenses of such sale) have been made (the “Insolvency Proceeds”) in the Collection Account. 
  
 (c)    Notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee, the Trustee, the
Backup Servicer, the Trust Collateral Agent, the Collateral Agent, the Insurer and the Rating Agencies as soon as practicable after the Servicer has received notice thereof. 
  
 (d)    Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the
Certificateholders will succeed to the rights of the Noteholders hereunder and the Owner Trustee will succeed to the rights of, and assume the obligations of, the Trust Collateral Agent pursuant to this Agreement. 
  
 ARTICLE XI 
  
 Administrative Duties of the Servicer 
  
 SECTION
11.1.    Administrative Duties. 
  
 (a)    Duties with Respect to
the Indenture.    The Servicer shall perform all its duties and the duties of the Issuer under the Indenture. In addition, the Servicer shall consult with the Owner Trustee as the Servicer deems appropriate regarding the
duties of the Issuer under the Indenture. The Servicer shall monitor the performance of the Issuer and shall advise the Owner Trustee when action is necessary to comply with the Issuer’s duties under the Indenture. The Servicer shall prepare
for execution by the Issuer or shall cause the preparation 
 

 62 

 by other appropriate Persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the
Issuer to prepare, file or deliver pursuant to the Indenture. In furtherance of the foregoing, the Servicer shall take all necessary action that is the duty of the Issuer to take pursuant to the Indenture, including, without limitation, pursuant to
Sections 2.7, 3.5, 3.6, 3.7, 3.9, 3.10, 3.17, 5.1, 5.4, 7.3, 8.3, 9.2, 9.3, 11.1 and 11.15 of the Indenture. 
  
 (b)    Duties with Respect to the Issuer. 
  
 (i)    In addition to the duties of the Servicer set forth in this Agreement or any of the Basic Documents, the Servicer shall perform such calculations and shall prepare for execution by the Issuer or the Owner
Trustee or shall cause the preparation by other appropriate Persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the Issuer or the Owner Trustee to prepare, file or deliver pursuant to
this Agreement or any of the Basic Documents or under state and federal tax and securities laws (including any filings required pursuant to the Sarbanes-Oxley Act of 2002 or any rule or regulation promulgated thereunder), and at the request of the
Owner Trustee shall take all appropriate action that it is the duty of the Issuer to take pursuant to this Agreement or any of the Basic Documents, including, without limitation, pursuant to Sections 2.6 and 2.11 of the Trust Agreement. In
accordance with the directions of the Issuer or the Owner Trustee, the Servicer shall administer, perform or supervise the performance of such other activities in connection with the Collateral (including the Basic Documents) as are not covered by
any of the foregoing provisions and as are expressly requested by the Issuer or the Owner Trustee and are reasonably within the capability of the Servicer. 
  
 (ii)    Notwithstanding anything in this Agreement or any of the Basic Documents to the contrary, the Servicer shall be responsible for
promptly notifying the Owner Trustee and the Trust Collateral Agent in the event that any withholding tax is imposed on the Issuer’s payments (or allocations of income) to an Owner (as defined in the Trust Agreement) as contemplated by this
Agreement. Any such notice shall be in writing and specify the amount of any withholding tax required to be withheld by the Owner Trustee or the Trust Collateral Agent pursuant to such provision. 
  

(iii)    Notwithstanding anything in this Agreement or the Basic Documents to the contrary, the Servicer shall be responsible for
performance of the duties of the Issuer set forth in Section 5.1(a) and (b) of the Trust Agreement with respect to, among other things, accounting and reports to Owners (as defined in the Trust Agreement); provided, however, that once
prepared by the Servicer the Owner Trustee shall retain responsibility for the distribution of the Schedule K-1s necessary to enable the Certificateholder to prepare its federal and state income tax returns. 
  
 (iv)    The Servicer shall perform the duties of the Servicer specified in Section 9.2 of the Trust
Agreement required to be performed in connection with the resignation or removal of the Owner Trustee, and any other duties expressly required to be performed by the Servicer under this Agreement or any of the Basic Documents. 
 

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 (v)    In carrying out the foregoing duties
or any of its other obligations under this Agreement, the Servicer may enter into transactions with or otherwise deal with any of its Affiliates; provided, however, that the terms of any such transactions or dealings shall be in accordance
with any directions received from the Issuer and shall be, in the Servicer’s opinion, no less favorable to the Issuer in any material respect. 
  
 (c)    Tax Matters.    The Servicer shall prepare and file, on behalf of the Seller, all tax returns, tax elections, financial statements and such annual
or other reports attributable to the activities engaged in by the Issuer as are necessary for preparation of tax reports, including without limitation forms 1099. All tax returns will be signed by the Seller. 
  
 (d)    Non-Ministerial Matters.    With respect to matters that in the reasonable judgment
of the Servicer are non-ministerial, the Servicer shall not take any action pursuant to this Article unless within a reasonable time before the taking of such action, the Servicer shall have notified the Owner Trustee and the Trustee of the proposed
action and the Owner Trustee and, with respect to items (A), (B), (C) and (D) below, the Trustee shall not have withheld consent or provided an alternative direction. For the purpose of the preceding sentence, “non-ministerial matters”
shall include: 
  
 (A)    the amendment of or any supplement to the Indenture;

  
 (B)    the initiation of any claim or lawsuit by the Issuer and the
compromise of any action, claim or lawsuit brought by or against the Issuer (other than in connection with the collection of the Receivables); 
  
 (C)    the amendment, change or modification of this Agreement or any of the Basic Documents; 
  
 (D)    the appointment of successor Note Registrars, successor Paying Agents and successor Trustees pursuant to the Indenture or the
appointment of Successor Servicers or the consent to the assignment by the Note Registrar, Paying Agent or Trustee of its obligations under the Indenture; and 
  
 (E)    the removal of the Trustee or the Trust Collateral Agent. 
  
 (e)    Exceptions.    Notwithstanding anything to the contrary in this Agreement, except as expressly provided herein or in
the other Basic Documents, the Servicer, in its capacity hereunder, shall not be obligated to, and shall not, (1) make any payments to the Noteholders or Certificateholders under the Basic Documents, (2) sell the Indenture Trust Property pursuant to
Section 5.5 of the Indenture, (3) take any other action that the Issuer directs the Servicer not to take on its behalf or (4) in connection with its duties hereunder assume any indemnification obligation of any other Person. 
  
 (f)    The Backup Servicer or any successor Servicer shall not be responsible for any obligations or duties of the
servicer under this Section 11.1. 
 

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 SECTION 11.2.    Records.    The
Servicer shall maintain appropriate books of account and records relating to services performed under this Agreement, which books of account and records shall be accessible for inspection by the Issuer at any time during normal business hours.

  
 SECTION 11.3.    Additional Information to be Furnished to the
Issuer.    The Servicer shall furnish to the Issuer from time to time such additional information regarding the Collateral as the Issuer shall reasonably request. 
  
 ARTICLE XII 
  
 Miscellaneous Provisions

  
 SECTION 12.1.    Amendment. 
  
 (a)    This Agreement may be amended from time to time by the parties hereto, with the consent of the Trustee (which consent may not be unreasonably
withheld), with the prior written consent of the Insurer (so long as no Insurer Default has occurred and is continuing) but without the consent of any of the Noteholders, to cure any ambiguity, to correct or supplement any provisions in this
Agreement, to comply with any changes in the Code, or to make any other provisions with respect to matters or questions arising under this Agreement which shall not be inconsistent with the provisions of this Agreement or the Insurance Agreement;
provided, however, that such action shall not, as evidenced by an Opinion of Counsel delivered to Owner Trustee and the Trustee, adversely affect in any material respect the interests of any Noteholder; provided further that if an Insurer
Default has occurred and is continuing, such action shall not materially adversely affect the interests of the Insurer. 
  
 This Agreement may also be amended from time to time by the parties hereto, with the consent of the Insurer, the consent of the Trustee, and with the consent of the Holders of Notes evidencing not less than a majority of the
outstanding principal amount of the Notes for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders; provided, however,
that no such amendment shall (a) 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 for the benefit of the Noteholders
or (b) reduce the aforesaid percentage of the outstanding principal amount of the Notes, the Holders of which are required to consent to any such amendment, without the consent of the Holders of all the outstanding Notes of each class affected
thereby; provided, further, that if an Insurer Default has not occurred and is continuing, such action shall not materially adversely affect the interest of the Insurer. 
  
 Promptly after the execution of any such amendment or consent, the Trust Collateral Agent shall furnish written notification of the substance of such amendment or consent
to each Noteholder and the Rating Agencies. 
  
 It shall not be necessary for the consent of Noteholders pursuant to
this Section to approve the particular form of any proposed amendment or consent, but it shall be sufficient if 
 

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 such consent shall approve the substance thereof. The manner of obtaining such consents (and any other consents of Noteholders provided for in
this Agreement) and of evidencing the authorization of any action by Noteholders shall be subject to such reasonable requirements as the Trustee or the Owner Trustee, as applicable, may prescribe. 
  
 Prior to the execution of any amendment to this Agreement, the Owner Trustee and the Trustee, Trust Collateral Agent, Collateral Agent and
Backup Servicer shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and the Opinion of Counsel referred to in Section 12.2(h)(1) has
been delivered. The Owner Trustee, the Trust Collateral Agent, the Backup Servicer and the Trustee may, but shall not be obligated to, enter into any such amendment which affects the Issuer’s, the Owner Trustee’s, the Trust Collateral
Agent’s, the Backup Servicer’s or the Trustee’s, as applicable, own rights, duties or immunities under this Agreement or otherwise. 
  
 (b)    Notwithstanding anything to the contrary contained in Section 12.1(a) above, the provisions of the Agreement relating to (i) the Spread Account Agreement Supplement, the
Spread Account, the Specified Spread Account Requirement, a Trigger Event or any component definition of a Trigger Event and (ii) any additional sources of funds which may be added to the Spread Account or uses of funds on deposit in the Spread
Account may be amended in any respect by the Seller, the Servicer, the Insurer and the Collateral Agent (the consent of which shall not be withheld or delayed with respect to any amendment that does not adversely affect the Collateral Agent) without
the consent of, or notice to, the Noteholders. 
  
 SECTION 12.2.    Protection of Title to
Trust. 
  
 (a)    The Seller shall execute and file such financing statements and cause to be
executed and filed such continuation statements, all in such manner and in such places as may be required by law fully to preserve, maintain and protect the interest of the Issuer and the interests of the Trust Collateral Agent in the Receivables
and in the proceeds thereof. The Seller shall deliver (or cause to be delivered) to the Insurer, the Owner Trustee 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. 
  
 (b)    Neither the Seller nor the Servicer shall change its
name, identity or corporate structure in any manner that would, could or might make any financing statement or continuation statement filed in accordance with paragraph (a) above seriously misleading within the meaning of 9-402(7) of the UCC, unless
it shall have given the Insurer, the Owner Trustee, the Trust Collateral Agent and the Trustee at least five days’ prior written notice thereof and shall have promptly filed appropriate amendments to all previously filed financing statements or
continuation statements. Promptly upon such filing, the Seller or the Servicer, as the case may be, shall deliver an Opinion of Counsel in form and substance reasonably satisfactory to the Insurer, stating either (A) all financing statements and
continuation statements have been executed and filed that are necessary fully to preserve and protect the interest of the Trust and the Trust Collateral Agent in the Receivables, and reciting the details of such filings or referring to prior
Opinions of Counsel in which such details are given, or (B) no such action shall be necessary to preserve and protect such interest. 
 

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 (c)    Each of the Seller and the Servicer shall have an
obligation to give the Insurer, the Owner Trustee, the Trust Collateral Agent and the Trustee at least 60 days’ prior written notice of any relocation of its principal executive office if, as a result of such relocation, the applicable
provisions of the UCC would require the filing of any amendment of any previously filed financing or continuation statement or of any new financing statement and shall promptly file any such amendment. The Servicer shall at all times maintain each
office from which it shall service Receivables, and its principal executive office, within the United States of America. 
  
 (d)    The Servicer shall maintain accounts and records as to each Receivable accurately and in sufficient detail to permit (i) the reader thereof to know at any time the status of such Receivable, including
payments and recoveries made and payments owing (and the nature of each) and (ii) reconciliation between payments or recoveries on (or with respect to) each Receivable and the amounts from time to time deposited in the Collection Account in respect
of such Receivable. 
  
 (e)    The Servicer shall maintain its computer systems so that, from and
after the time of sale under this Agreement of the Receivables to the Issuer, the Servicer’s master computer records (including any backup archives) that refer to a Receivable shall indicate clearly the interest of the Trust in such Receivable
and that such Receivable is owned by the Trust. Indication of the Trust’s interest in a Receivable shall be deleted from or modified on the Servicer’s computer systems when, and only when, the related Receivable shall have been paid in
full or repurchased. 
  
 (f)    If at any time the Seller or the Servicer shall propose to sell,
grant a security interest in or otherwise transfer any interest in automotive receivables to any prospective purchaser, lender or other transferee, the Servicer shall give to such prospective purchaser, lender or other transferee computer tapes,
records or printouts (including any restored from backup archives) that, if they shall refer in any manner whatsoever to any Receivable, shall indicate clearly that such Receivable has been sold and is owned by the Trust. 
  
 (g)    Upon request, the Servicer shall furnish to the Insurer, the Owner Trustee or to the Trustee, within five
Business Days, a list of all Receivables (by contract number and name of Obligor) then held as part of the Trust, together with a reconciliation of such list to the Schedule of Receivables and to each of the Servicer’s Certificates furnished
before such request indicating removal of Receivables from the Trust. 
  
 (h)    The Servicer
shall deliver to the Insurer, the Owner Trustee and the Trustee: 
  
 (1)    promptly after the execution and delivery of the Agreement and, if required pursuant to Section 12.1, of each amendment, an Opinion of Counsel stating that, in the opinion of such Counsel, in form and
substance reasonably satisfactory to the Insurer, either (A) all financing statements and continuation statements have been executed and filed that are necessary fully to preserve and protect the interest of the Trust and the Trustee in the
Receivables, and reciting the details of such filings or referring to
 
 

 67 

 
prior Opinions of Counsel in which such details are given, or (B) no such action shall be necessary to preserve and protect such interest; and 
  
 (2)    within 90 days after the beginning of each calendar year beginning with the first calendar year
beginning more than three months after the Cutoff Date, an Opinion of Counsel, dated as of a date during such 90-day period, stating that, in the opinion of such counsel, either (A) all financing statements and continuation statements have been
executed and filed that are necessary fully to preserve and protect the interest of the Trust and the Trustee in the Receivables, and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or
(B) no such action shall be necessary to preserve and protect such interest. 
  
 Each Opinion of Counsel referred to
in clause (1) or (2) above shall specify any action necessary (as of the date of such opinion) to be taken in the following year to preserve and protect such interest. 
  
 SECTION 12.3.    Notices.    All demands, notices and communications upon or to the Seller, the Servicer, the Owner Trustee,
the Trustee or the Rating Agencies under this Agreement shall be in writing, personally delivered, or mailed by certified mail, return receipt requested, and shall be deemed to have been duly given upon receipt (a) in the case of the Seller to AFS
Funding Trust, c/o Deutsche Bank Trust Company Delaware, as Owner Trustee, E.A. Delle Donne Corporate Center, Montgomery Building, 1011 Centre Road, Suite 200, Wilmington Delaware, 19805-1266, Attention: Corporate Trust, with a copy to AFS Funding
Trust, c/o AmeriCredit Financial Services, Inc., as Administrator, 801 Cherry Street, Suite 3900, Fort Worth, Texas 76102, Attention: Chief Financial Officer, (b) in the case of the Servicer to AmeriCredit Financial Services, Inc., 801 Cherry
Street, Suite 3900, Fort Worth, Texas 76102, Attention: Chief Financial Officer, (c) in the case of the Issuer or the Owner Trustee, at the Corporate Trust Office of the Owner Trustee, Deutsche Bank Trust Company Americas, c/o DB Services New Jersey
Inc., 100 Plaza One, MS: JCY03-0606, Jersey City, New Jersey 07311, Attention: Louis Bodi, Vice President, with a copy to Deutsche Bank Trust Company Delaware, E.A. Delle Donne Corporate Center, Montgomery Building, 1011 Centre Road, Suite 200,
Wilmington Delaware, 19805-1266, Attention: Corporate Trust (d) in the case of the Trustee, the Collateral Agent or the Trust Collateral Agent, at the Corporate Trust Office, (e) in the case of the Insurer, to Financial Security Assurance Inc., 350
Park Avenue, New York, New York 10022; Attention: Senior Vice President, Surveillance (in each case in which notice or other communication to the Insurer refers to a Servicer Termination Event, a claim on the Note Policy, a Deficiency Notice
pursuant to Section 5.5 of this Agreement or with respect to which failure on the part of the Insurer to respond shall be deemed to constitute consent or acceptance, then a copy of such notice or other communication should also be sent to the
attention of each of the General Counsel and the Head-Financial Guaranty Group and shall be marked to indicate “URGENT MATERIAL ENCLOSED”); (f) in the case of Moody’s, to Moody’s Investors Service, Inc., ABS Monitoring
Department, 99 Church Street, New York, New York 10007; (g) in the case of Standard & Poor’s, to Standard & Poor’s Ratings Group, 55 Water Street, New York, New York 10041, Attention: Asset Backed Surveillance Department and (h) in
the case of Fitch, to One State Street Plaza, New York, New York 10004. Any notice required or permitted to be mailed to a Noteholder shall be given by first class mail, postage prepaid, at the address of such Holder as shown in the Note Register.
Any notice so mailed within the time prescribed in 
 

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 the Agreement shall be conclusively presumed to have been duly given, whether or not the Noteholder
shall receive such notice. 
  
 SECTION 12.4.    Assignment.    This
Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns. Notwithstanding anything to the contrary contained herein, except as provided in Sections 7.4 and 8.3 and as
provided in the provisions of this Agreement concerning the resignation of the Servicer, this Agreement may not be assigned by the Seller or the Servicer without the prior written consent of the Owner Trustee, the Trust Collateral Agent, the Backup
Servicer, the Trustee and the Insurer (or if an Insurer Default shall have occurred and be continuing the Holders of Notes evidencing not less than 66 2/3% of the principal amount of the outstanding Notes). 
  
 SECTION 12.5.    Limitations on Rights of Others.    The provisions of this Agreement are solely for the benefit of the parties hereto, the Trustee and the Noteholders, as third-party
beneficiaries. The Insurer and its successors and assigns shall be a third-party beneficiary to the provisions of this Agreement, and shall be entitled to rely upon and directly enforce such provisions of this Agreement so long as no Insurer Default
shall have occurred and be continuing. Except as expressly stated otherwise herein, any right of the Insurer to direct, appoint, consent to, approve of, or take any action under this Agreement, shall be a right exercised by the Insurer in its sole
and absolute discretion. The Insurer may disclaim any of its rights and powers under this Agreement (but not its duties and obligations under the Note Policy) upon delivery of a written notice to the Owner Trustee. Nothing in this Agreement, whether
express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in the Owner Trust Estate or under or in respect of this Agreement or any covenants, conditions or provisions contained herein.

  
 SECTION 12.6.    Severability.    Any provision of this Agreement
that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
  
 SECTION 12.7.    Separate Counterparts.    This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an
original, but all such counterparts shall together constitute but one and the same instrument. 
  
 SECTION
12.8.    Headings.    The headings of the various Articles and Sections herein are for convenience of reference only and shall not define or limit any of the terms or provisions hereof. 

 
 SECTION 12.9.    Governing Law.    THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH AND 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). 
 

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 SECTION 12.10.    Assignment to
Trustee.    The Seller hereby acknowledges and consents to any mortgage, pledge, assignment and grant of a security interest by the Issuer to the Trustee pursuant to the Indenture for the benefit of the Noteholders of all
right, title and interest of the Issuer in, to and under the Receivables and/or the assignment of any or all of the Issuer’s rights and obligations hereunder to the Trustee. 
  
 SECTION 12.11.    Nonpetition Covenants. 
  
 (a)    Notwithstanding any prior termination of this Agreement, the Servicer and the Seller shall not, prior to the date which is one year and one day after the termination of this
Agreement with respect to the Issuer, acquiesce, petition or otherwise invoke or cause the Issuer to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against 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 Issuer or any substantial part of its property, or ordering the winding up or liquidation
of the affairs of the Issuer. 
  
 (b)    Notwithstanding any prior termination of this Agreement,
the Servicer shall not, prior to the date that is one year and one day after the termination of this Agreement with respect to the Seller, acquiesce to, petition or otherwise invoke or cause the Seller to invoke the process of any court or
government authority for the purpose of commencing or sustaining a case against the Seller under any federal or state bankruptcy, insolvency or similar law, appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator, or other
similar official of the Seller or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Seller. 
  
 SECTION 12.12.    Limitation of Liability of Owner Trustee and Trustee. 
  
 (a)    Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned by Deutsche Bank Trust Company Delaware not in its individual capacity but
solely in its capacity as Owner Trustee of the Issuer and in no event shall Deutsche Bank Trust Company Delaware in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee have any liability for the
representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the
Issuer. For all purposes of this Agreement, in the performance of its duties or obligations hereunder or in the performance of any duties or obligations of the Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of,
the terms and provisions of Articles V, VI and VII of the Trust Agreement. 
  
 (b)    Notwithstanding anything contained herein to the contrary, this Agreement has been executed and delivered by JPMorgan Chase Bank, not in its individual capacity but solely as Trust Collateral Agent and
Backup Servicer and in no event shall JPMorgan Chase Bank, have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered
pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer. 
 

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 (c)    In no event shall JPMorgan Chase Bank, in any of its
capacities hereunder, be deemed to have assumed any duties of the Owner Trustee under the Delaware Statutory Trust Statute, common law, or the Trust Agreement. 
  
 SECTION 12.13.    Independence of the Servicer.    For all purposes of this Agreement, the Servicer shall be an independent contractor and shall not be
subject to the supervision of the Issuer, the Trust Collateral Agent and Backup Servicer or the Owner Trustee with respect to the manner in which it accomplishes the performance of its obligations hereunder. Unless expressly authorized by this
Agreement, the Servicer shall have no authority to act for or represent the Issuer or the Owner Trustee in any way and shall not otherwise be deemed an agent of the Issuer or the Owner Trustee. 
  

SECTION 12.14.    No Joint Venture.    Nothing contained in this Agreement (i) shall constitute the Servicer and either
of the Issuer or the Owner Trustee as members of any partnership, joint venture, association, syndicate, unincorporated business or other separate entity, (ii) shall be construed to impose any liability as such on any of them or (iii) shall be
deemed to confer on any of them any express, implied or apparent authority to incur any obligation or liability on behalf of the others. 
  
 SECTION 12.15.    [Reserved] 
  
 [Remainder of page intentionally left
blank.] 
 

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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed and delivered by their respective duly authorized officers as of the day and the year first above written. 
  
  
 
	 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2002-D
 
	 
	 By:
 	 	 DEUTSCHE BANK TRUST COMPANY DELAWARE, not in its individual capacity but solely as Owner Trustee on behalf of the
Trust.        
 
	 
	 By:
 	 	 /s/    LOUIS BODI         

	  	 	 Name: Louis Bodi
 
	  	 	 Title: Vice President
 

 
  
  
 
	 AFS FUNDING TRUST, SELLER,
 
	 
	 By:
 	 	 AMERICREDIT FINANCIAL SERVICES, INC., as Administrator        
 

 
 
	 
	 By:
 	 	 /s/    JULIE BORGE        

	  	 	 Name: Julie Borge
 
	  	 	 Title: Vice President, Structured Finance
 

 
  
  
 
	 AMERICREDIT FINANCIAL SERVICES, INC., Servicer,
 
	 
	 By:
 	 	 /s/    PRESTON A.
MILLER        
 

	  	 	 Name: Preston A. Miller
 
	  	 	 Title: Executive Vice President and Treasurer
 

 

  
 
	 JPMORGAN CHASE BANK, not in its individual capacity but solely as Backup Servicer
 
	 
	 By:
 	 	 /s/    RYAN BIASI         

	  	 	 Name: Ryan Biasi
 
	  	 	 Title: Trust Officer
 

 
  
 Acknowledged and accepted by 
  
 
	  	 	 JPMORGAN CHASE BANK, not in its individual capacity but solely as Trust Collateral Agent
 
	 
	 By:
 	 	 /s/    RYAN BIASI        

	  	 	 Name: Ryan Biasi
 
	  	 	 Title: Trust Officer
 

 
  
  
  
 [Sale and Servicing Agreement] 

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

  
 SCHEDULE B 
  
 REPRESENTATIONS AND WARRANTIES OF THE SELLER AND THE SERVICER 
  
 1.    Characteristics of Receivables.    Each Receivable (A) was originated (i) by AmeriCredit, (ii) by a Dealer and purchased by AmeriCredit from such Dealer under an existing
Dealer Agreement or pursuant to a Dealer Assignment with AmeriCredit and was validly assigned by such Dealer to AmeriCredit pursuant to a Dealer Assignment or (iii) by a Third-Party Lender and purchased by AmeriCredit from such Third-Party Lender
under an existing Auto Loan Purchase and Sale Agreement or pursuant to a Third-Party Lender Assignment with AmeriCredit and was validly assigned by such Third-Party Lender to AmeriCredit pursuant to a Third-Party Lender Assignment (B) was originated
by AmeriCredit, such Dealer or such Third-Party Lender for the retail sale of a Financed Vehicle in the ordinary course of AmeriCredit’s, the Dealer’s or the Third-Party Lender’s business, in each case was originated in accordance
with AmeriCredit’s credit policies and was fully and properly executed by the parties thereto, and AmeriCredit, each Dealer and each Third-Party Lender had all necessary licenses and permits to originate Receivables in the state where
AmeriCredit, 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 relating thereto.

  
 2.    Fraud or Misrepresentation.    Each Receivable was
originated (i) by AmeriCredit, (ii) by a Dealer and was sold by the Dealer to AmeriCredit, or (iii) by a Third-Party Lender and was sold by the Third-Party Lender to AmeriCredit, and was sold by AmeriCredit to the Seller without any fraud or
misrepresentation on the part of such Dealer or Third-Party Lender 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 Soldiers’ and
Sailors’ Civil Relief Act of 1940, 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. 
 

 Sch-B-1 

  
 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 Cutoff Date of the Soldiers’ and Sailors’ Civil Relief Act of 1940, 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 related Cutoff Date no Obligor had been identified on the records of AmeriCredit as being the subject of a current bankruptcy proceeding. 
  
 8.    Schedule of Receivables.    The information set forth in the Schedule 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 related Cutoff Date. 
  
 9.    Marking Records.    By the Closing Date, the Seller will have caused the portions of the Electronic Ledger relating to the Receivables to be clearly and unambiguously marked to
show that the Receivables have been sold to the Seller by the Servicer and resold by the Seller to the Trust in accordance with the terms of the Sale and Servicing Agreement. 
  
 10.    Computer Tape.    The Computer Tape made available by the Seller to the Trust on the Closing Date was complete and
accurate as of the Cutoff Date 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 or the Insurer 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 chattel paper within the meaning of the UCC as in effect in the States of Texas, New York and Delaware. 
  
 13.    One Original.    There is only one original executed copy of each Receivable.

  
 14.    Receivable Files Complete.    There exists a Receivable
File pertaining to each Receivable and such Receivable File contains (a) a fully executed original of the Receivable, (b) the original executed credit application, or a paper or electronic copy thereof and (c) the original Lien Certificate or
application therefor. 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. The complete Receivable File for each Receivable currently is in the possession of the Custodian. 
 

 Sch-B-2 

  
 15.    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. No Receivable has been modified as a result of application of the Soldiers’ and Sailors’ Civil Relief Act of 1940, as
amended. 
  
 16.    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 Securities. 
  
 17.    Good Title.    Immediately prior to the conveyance of the Receivables to the Trust
pursuant to this Agreement, 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, the Trust 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. 
  
 18.    Security Interest in Financed
Vehicle.    Each Receivable created or shall create a valid, binding and enforceable first priority security interest in favor of the Seller in the Financed Vehicle. The Lien Certificate and original certificate of title for
each Financed Vehicle show, 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 and will show the Seller 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
Seller has applied for or received written evidence from the related Dealer or Third-Party Lender that such Lien Certificate showing the Seller as first lienholder has been applied for and the Seller’s security interest has been validly
assigned by the Seller to the Trust pursuant to this Agreement. Immediately after the sale, transfer and assignment thereof by the Seller to the Trust, each Receivable will be secured by an enforceable and perfected first priority security interest
in the Financed Vehicle in favor of the Trustee 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 Cutoff Date 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. 
  
 19.    All Filings Made.    All filings
(including, without limitation, UCC filings) required to be made by any Person and actions required to be taken or performed by any Person in any jurisdiction to give the Trust a first priority perfected lien on, or ownership interest in, the

 

 Sch-B-3 

 Receivables and the proceeds thereof and the Other Conveyed Property have been made, taken or performed. 
  
 20.    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 Receivable or otherwise to impair the rights of the Trust, the Insurer, the Trustee, the Trust Collateral Agent and the Noteholders in any Receivable or the proceeds thereof.

  
 21.    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 AmeriCredit with respect to such Receivable. 
  
 22.    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. 
  
 23.    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 or, in the case of certain Receivables
that have an aggregate Principal Balance of up to 2% of the initial principal amount of the notes, payment delinquencies of not more than 60 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. As of the Cutoff Date no Financed Vehicle had been repossessed.

  
 24.    Insurance.    At the time of an origination of a Receivable
by AmeriCredit or a purchase of a Receivable by AmeriCredit from 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 AmeriCredit 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 AmeriCredit 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. No Financed Vehicle is insured under a policy of Force-Placed Insurance on the related Cutoff Date. 

 
 25.    Past Due.    Except for certain Receivables that have an aggregate
Principal Balance of up to 2% of the initial principal amount of the notes and which may have been between 31 and 60 days past due, at the Cutoff Date no Receivable was more than 30 days past due. 
  
 26.    Remaining Principal Balance.    At the Cutoff Date the Principal Balance of each
Receivable set forth in the Schedule of Receivables is true and accurate in all material respects. 
 

 Sch-B-4 

  
 27.    Certain Characteristics of
Receivables.    (A)  Each Receivable had a remaining maturity, as of the Cutoff Date, of not more than 72 months; (B)  each Receivable had an original maturity of not more than 72 months;
(C)  not more than 40% of Receivables (calculated by Aggregate Principal Balance) shall have an original term to maturity of 72 months; (D)  each Receivable had a remaining Principal Balance as of the Cutoff Date of at least $250
and not more than $60,000; (E)  each Receivable has an Annual Percentage Rate of at least 7% and not more than 33%; (F)  except for certain Receivables that have an aggregate Principal Balance of up to 2% of the initial principal
amount of the notes and which may have been between 31 and 60 days past due as of the Cutoff Date, no Receivable was more than 30 days past due as of the Cutoff Date and (G)  no funds have been advanced by AmeriCredit, 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 (F)  above. 
 

 Sch-B-5 

  
 SCHEDULE C 
  
 SERVICING POLICIES AND PROCEDURES  
 Note: Applicable Time Periods
Will Vary by State 
  
 Compliance with state collection laws is required of all AmeriCredit Collection Personnel. Additionally,
AmeriCredit has chosen to follow the guidelines of the Federal Fair Debt Collection Practices Act (FDCPA). 
  
 The Collection
Process 
  
 AmeriCredit mails each customer a monthly billing statement 16 to 20 days before payment is due. 
  

	A.
	 
	All accounts are issued to the Computer Assisted Collection System (CACS) at 5 days delinquent or at such other dates of delinquency as determined by historical
payment patterns of the account. 
 

  

	B.
	 
	The CACS segregates accounts into two groups: loans less than 30 days delinquent and those over 30 days delinquent. 
 

  

	C.
	 
	Loans delinquent for less than 30 days are then further segregated into two groups: accounts that have good phone numbers and those that do not. 

  

	D.
	 
	Loans with good phone numbers are transferred to the Davox system (AmeriCredit’s predictive dialing system). The system automatically dials the phone
number related to a delinquent account. When a connection is made, the account is then routed to the next available account representative. 
 

  

	E.
	 
	Loans without good phone numbers are assigned to front-end collectors. 
 

  

	F.
	 
	All reasonable collection efforts are made in an attempt to prevent these accounts from becoming 30+ days delinquent—this includes the use of collection
letters. Collection letters may be utilized between 15th and 25th days of delinquency. 
 

  

	G.
	 
	When an account reaches 31 days delinquent, a collector determines if any default notification is required in the state where the debtor lives. 

  

	H.
	 
	When an account exceeds 61 days delinquent, the loan is assigned to a hard-core collector who will continue the collection effort. If the account cannot be
resolved through normal collection efforts (i.e., satisfactory payment arrangements) then the account may be submitted for repossession approval. An officer must approve all repossession requests. 
 

  

	I.
	 
	CACS allows each collector to accurately document and update each customer file when contact (verbal or written) is made. 
 

 
 Repossessions 
 

 Sch-C-1 

  
 If repossession of the collateral occurs, the following steps are taken: 
  

	A.
	 
	Proper authorities are notified (if applicable). 
 

  

	B.
	 
	An inventory of all personal property is taken and a condition report is prepared on the vehicle. 
 

  

	C.
	 
	Written notification, as required by state law, is sent to the customer(s) stating their rights of redemption or reinstatement along with information on how to
obtain any personal property that was in the vehicle at the time of repossession. 
 

  

	D.
	 
	Written request to the originating dealer for all refunds due for dealer adds is made. 
 

  

	E.
	 
	Collateral disposition through public or private sale, (dictated by state law), in a commercially reasonable manner, through a third-party auto auction.

 

  

	F.
	 
	After the collateral is liquidated, the debtor(s) is notified in writing of the deficiency balance owed, if any. 
 

  
 Use of Due Date Changes 
  
 Due dates may be
changed subject to the following conditions: 
  

	A.
	 
	The account is contractually current or will be brought current with the due date change. 
 

  

	B.
	 
	Due date changes cannot exceed the total of 15 days over the life of the contract. 
 

  

	C.
	 
	The first installment payment has been paid in full. 
 

  

	D.
	 
	Only one due date change in a twelve month period. 
 

  
 An Officer must approve any exceptions to the above stated policy. 
  
 Use of Payment Deferments

  
 A payment deferral is offered to customers who have the desire and capacity to make future payments but who have encountered temporary
financial difficulties, with management approval. 
  

	A.
	 
	Without prior approval, minimum of six payments have been made on the account and a minimum of nine payments have been made since the most recent deferment (if
any). 
 

  

	B.
	 
	The account will be brought current with the deferment, but not paid ahead, without management approval. 
 

  

	C.
	 
	A deferment fee is collected on all transactions. 
 

  

	D.
	 
	No more than eight total payments may be deferred over the life of the loan, without management approval. 
 

 

 Sch-C-2 

  
 An Officer must approve any exceptions to the above stated policy. 
  
 Charge-Offs 
  
 It is AmeriCredit’s
policy that any account that is not successfully recovered by 120 days delinquent is submitted to an Officer for approval and charge-off. 
  
 It is AmeriCredit’s policy to carry all Chapter 13 bankruptcy accounts until 120 days delinquent. A partial charge-off is taken for the unsecured portion of the account. On fully reaffirmed Chapter 7 bankruptcy accounts, the
accounts can be deferred current at the time of discharge. 
  
 Deficiency Collections 
  
 Accounts are assigned to third party collection agencies for deficiency collections. 
 

 Sch-C-3 

  
 EXHIBIT A 
  
 SERVICER’S CERTIFICATE 
  
 [On
File with AmeriCredit and Dewey Ballantine LLP] 

  
 EXHIBIT B 
  
 PRELIMINARY SERVICER’S CERTIFICATE 
  
 [On File with AmeriCredit and Dewey Ballantine LLP]

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