Document:

ISDA Master Agreement

 Exhibit 10.5 
 (Multicurrency—Cross Border) 
 ISDA® 
 International Swap Dealers Association, Inc.

 MASTER AGREEMENT 
 dated
as of February 15, 2007 
  

					
	 BARCLAYS BANK PLC
	  	and	  	CAPITAL ONE AUTO FINANCE TRUST
		  		  	2007-A

 have entered and/or anticipate entering into one or more transactions (each a
‘Transaction”) that are or will be governed by this Master Agreement, which includes the schedule (the “Schedule”), and the documents and other confirming evidence (each a “Confirmation”) exchanged between the parties
confirming those Transactions. 
 Accordingly, the parties agree as follows: 
  

	 1.
	 Interpretation 

 (a) Definitions.  The terms defined in Section 14 and in the Schedule will have the meanings therein specified for the purpose of this Master Agreement. 
 (b) Inconsistency.  In the event of any inconsistency between the provisions of the Schedule and the other
provisions of this Master Agreement, the Schedule will prevail. In the event of any inconsistency between the provisions of any Confirmation and this Master Agreement (including the Schedule), such Confirmation will prevail for the purposes of the
relevant Transaction. 
 (c) Single Agreement.  All Transactions are entered into in reliance on the
fact that this Master Agreement and all Confirmations form a single agreement between the parties (collectively referred to as this “Agreement”), and the parties would not otherwise enter into any Transactions. 
  

	 2.
	 Obligations  

 (a) General
Conditions. 
  

	 	 (i)
	 Each party will make each payment or delivery specified in each Confirmation to be made by it, subject to the other provisions of this Agreement.

  

	 	 (ii)
	 Payments under this Agreement will be made on the due date for value on that date in the place of the account specified in the relevant Confirmation or otherwise
pursuant to this Agreement, in freely transferable funds and in the manner customary for payments in the required currency. Where settlement is by delivery (that is, other than by payment), such delivery will be made for receipt on the due date in
the manner customary for the relevant obligation unless otherwise specified in the relevant Confirmation or elsewhere in this Agreement. 

  

	 	 (iii)
	 Each obligation of each party under Section 2(a)(i) is subject to (1) the condition precedent that no Event of Default or Potential Event of Default
with respect to the other party has occurred and is continuing, (2) the condition precedent that no Early Termination Date in respect of the relevant Transaction has occurred or been effectively designated and (3) each other applicable
condition precedent specified in this Agreement. 

 Copyright© 1992 by International Swap Dealers Association, Inc.

 (b)    Change of Account. Either party may change its
account for receiving a payment or delivery by giving notice to the other party at least five Local Business Days prior to the scheduled date for the payment or delivery to which such change applies unless such other party gives timely notice of a
reasonable objection to such change. 
 (c)    Netting. If on any date amounts would otherwise
be payable:— 
  

	 	 (i)    in
	 the same currency; and 

  

	 	 (ii)    in
	 respect of the same Transaction, 

 by each party to the other, then, on such date, each party’s obligation to make payment of any such amount will be automatically satisfied and discharged and, if the aggregate amount that would otherwise have been payable by one party
exceeds the aggregate amount that would otherwise have been payable by the other party, replaced by an obligation upon the party by whom the larger aggregate amount would have been payable to pay to the other party the excess of the larger aggregate
amount over the smaller aggregate amount. 
 The parties may elect in respect of two or more Transactions that a net amount will be determined
in respect of all amounts payable on the same date in the same currency in respect of such Transactions, regardless of whether such amounts are payable in respect of the same Transaction. The election may be made in the Schedule or a Confirmation by
specifying that subparagraph (ii) above will not apply to the Transactions identified as being subject to the election, together with the starting date (in which case subparagraph (ii) above will not, or will cease to, apply to such
Transactions from such date). This election may be made separately for different groups of Transactions and will apply separately to each pairing of Offices through which the parties make and receive payments or deliveries. 
 (d)    Deduction or Withholding for Tax. 
 (i)    Gross-Up. All payments under this Agreement will be made without any deduction or withholding for or on account of any Tax unless such
deduction or withholding is required by any applicable law, as modified by the practice of any relevant governmental revenue authority, then in effect. If a party is so required to deduct or withhold, then that party (“X”) will:—

 (1)    promptly notify the other party (“Y”) of such requirement; 
 (2)    pay to the relevant authorities the full amount required to be deducted or withheld (including the full amount
required to be deducted or withheld from any additional amount paid by X to Y under this Section 2(d)) promptly upon the earlier of determining that such deduction or withholding is required or receiving notice that such amount has been
assessed against Y; 
 (3)    promptly forward to Y an official receipt (or a certified copy), or other
documentation reasonably acceptable to Y, evidencing such payment to such authorities; and 
 (4)    if
such Tax is an Indemnifiable Tax, pay to Y, in addition to the payment to which Y is otherwise entitled under this Agreement, such additional amount as is necessary to ensure that the net amount actually received by Y (free and clear of
Indemnifiable Taxes, whether assessed against X or Y) will equal the full amount Y would have received had no such deduction or withholding been required. However, X will not be required to pay any additional amount to Y to the extent that it would
not be required to be paid but for:— 
 (A)    the failure by Y to comply with or perform any
agreement contained in Section 4(a)(i), 4(a)(iii) or 4(d); or 
 (B)    the failure of a
representation made by Y pursuant to Section 3(f) to be accurate and true unless such failure would not have occurred but for (I) any action taken by a taxing authority, or brought in a court of competent jurisdiction, on or after the date
on which a Transaction is entered into (regardless of whether such action is taken or brought with respect to a party to this Agreement) or (II) a Change in Tax Law. 
  

			
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 (ii)    Liability, If: —

 (1)    X is required by any applicable law, as modified by the practice of any relevant governmental
revenue authority, to make any deduction or withholding in respect of which X would not be required to pay an additional amount to Y under Section 2(d)(i)(4); 
 (2)    X does not so deduct or withhold; and 
 (3)    a liability resulting from such Tax is assessed directly against X, 
 then, except to the
extent Y has satisfied or then satisfies the liability resulting from such Tax, Y will promptly pay to X the amount of such liability (including any related liability for interest, but including any related liability for penalties only if Y has
failed to comply with or perform any agreement contained in Section 4(a)(i), 4(a)(iii) or 4(d)). 
 (e)    Default Interest; Other Amounts. Prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction, a party that defaults in the
performance of any payment obligation will, to the extent permitted by law and subject to Section 6(c), be required to pay interest (before as well as after judgment) on the overdue amount to the other party on demand in the same currency as
such overdue amount, for the period from (and including) the original due date for payment to (but excluding) the date of actual payment, at the Default Rate. Such interest will be calculated on the basis of daily compounding and the actual number
of days elapsed. If, prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction, a party defaults in the performance of any obligation required to be settled by delivery, it will compensate
the other party on demand if and to the extent provided for in the relevant Confirmation or elsewhere in this Agreement. 
  

	 3.
	 Representations 

 Each party
represents to the other party (which representations will be deemed to be repeated by each party on each date on which a Transaction is entered into and, in the case of the representations in Section 3(f), at all times until the termination of
this Agreement) that:— 
 (a)    Basic Representations. 
 (i)    Status. It is duly organised and validly existing under the laws of the
jurisdiction of its organisation or incorporation and, if relevant under such laws, in good standing; 
 (ii)    Powers. It has the power to execute this Agreement and any other documentation relating to this Agreement to which it is a party, to deliver this Agreement and any other documentation relating to
this Agreement that it is required by this Agreement to deliver and to perform its obligations under this Agreement and any obligations it has under any Credit Support Document to which it is a party and has taken all necessary action to authorise
such execution, delivery and performance; 
 (iii)    No Violation or Conflict. Such
execution, delivery and performance do not violate or conflict with any law applicable to it, any provision of its constitutional documents, any order or judgment of any court or other agency of government applicable to it or any of its assets or
any contractual restriction binding on or affecting it or any of its assets; 
 (iv)    Consents. All governmental and other consents that are required to have been obtained by it with respect to this Agreement or any Credit Support Document to which it is a party have
been obtained and are in full force and effect and all conditions of any such consents have been complied with; and 
 (v)    Obligations Binding. Its obligations under this Agreement and any Credit Support Document to which it is a party constitute its legal, valid and binding obligations, enforceable in
accordance with their respective terms (subject to applicable bankruptcy, reorganisation, insolvency, moratorium or similar laws affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of general
application (regardless of whether enforcement is sought in a proceeding in equity or at law)). 
  

			
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 (b)    Absence of Certain Events. No Event of Default or
Potential Event of Default or, to its knowledge, Termination Event with respect to it has occurred and is continuing and no such event or circumstance would occur as a result of its entering into or performing its obligations under this Agreement or
any Credit Support Document to which it is a party. 
 (c)    Absence of Litigation. There is not pending
or, to its knowledge, threatened against it or any of its Affiliates any action, suit or proceeding at law or in equity or before any court, tribunal, governmental body, agency or official or any arbitrator that is likely to affect the legality,
validity or enforceability against it of this Agreement or any Credit Support Document to which it is a party or its ability to perform its obligations under this Agreement or such Credit Support Document. 
 (d)    Accuracy of Specified Information. All applicable information that is furnished in writing by or on
behalf of it to the other party and is identified for the purpose of this Section 3(d) in the Schedule is, as of the date of the information, true, accurate and complete in every material respect. 
 (e)    Payer Tax Representation. Each representation specified in the Schedule as being made by it for the
purpose of this Section 3(e) is accurate and true. 
 (f)    Payee Tax Representations.
Each representation specified in the Schedule as being made by it for the purpose of this Section 3(f) is accurate and true. 
  

	 4.
	 Agreements 

 Each party
agrees with the other that, so long as either party has or may have any obligation under this Agreement or under any Credit Support Document to which it is a party:— 
 (a)    Furnish Specified Information. It will deliver to the other party or, in certain cases under subparagraph (iii) below, to such government or taxing authority
as the other party reasonably directs:— 
 (i)    any forms, documents or certificates relating to
taxation specified in the Schedule or any Confirmation; 
 (ii)    any other documents specified in the
Schedule or any Confirmation; and 
 (iii)    upon reasonable demand by such other party, any form or
document that may be required or reasonably requested in writing in order to allow such other party or its Credit Support Provider to make a payment under this Agreement or any applicable Credit Support Document without any deduction or withholding
for or on account of any Tax or with such deduction or withholding at a reduced rate (so long as the completion, execution or submission of such form or document would not materially prejudice the legal or commercial position of the party in receipt
of such demand), with any such form or document to be accurate and completed in a manner reasonably satisfactory to such other party and to be executed and to be delivered with any reasonably required certification, 
 in each case by the date specified in the Schedule or such Confirmation or, if none is specified, as soon as reasonably practicable. 
 (b)    Maintain Authorisations. It will use all reasonable efforts to maintain in full force and effect
all consents of any governmental or other authority that are required to be obtained by it with respect to this Agreement or any Credit Support Document to which it is a party and will use all reasonable efforts to obtain any that may become
necessary in the future. 
 (c)    Comply with Laws. It will comply in all material respects
with all applicable laws and orders to which it may be subject if failure so to comply would materially impair its ability to perform its obligations under this Agreement or any Credit Support Document to which it is a party. 
 (d)    Tax Agreement. It will give notice of any failure of a representation made by it under
Section 3(f) to be accurate and true promptly upon learning of such failure. 
 (e)    Payment of Stamp
Tax. Subject to Section 11, it will pay any Stamp Tax levied or imposed upon it or in respect of its execution or performance of this Agreement by a jurisdiction in which it is incorporated, organised, managed and controlled, or
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 have organised, managed and controlled, or considered to have its seat, or in which a branch or office
through which it is acting for the purpose of this Agreement is located (“Stamp Tax Jurisdiction”) and will indemnify the other party against any Stamp Tax levied or imposed upon the other party or in respect of the other party’s
execution or performance of this Agreement by any such Stamp Tax Jurisdiction which is not also a Stamp Tax Jurisdiction with respect to the other party. 
  

	 5.
	 Events of Default and Termination Events 

 (a)    Events of Default. The occurrence at any time with respect to a party or, if applicable, any Credit Support Provider of such party or any Specified Entity of such
party of any of the following events constitutes an event of default (an “Event of Default”) with respect to such party:— 
 (i)    Failure to Pay or Deliver. Failure by the party to make, when due, any payment under this Agreement or delivery under Section 2(a)(i) or 2(e) required to be
made by it if such failure is not remedied on or before the third Local Business Day after notice of such failure is given to the party; 
 (ii)    Breach of Agreement. Failure by the party to comply with or perform any agreement or obligation (other than an obligation to make any payment under this
Agreement or delivery under Section 2(a)(i) or 2(e) or to give notice of a Termination Event or any agreement or obligation under Section 4(a)(i), 4(a)(iii) or 4(d)) to be complied with or performed by the party in accordance with this
Agreement if such failure is not remedied on or before the thirtieth day after notice of such failure is given to the party; 
 (iii)    Credit Support Default. 
 (1)    Failure by the party or any Credit Support Provider of such party to comply with or perform any agreement or obligation to be complied with or performed by it in accordance with any Credit Support Document if such
failure is continuing after any applicable grace period has elapsed; 
 (2)    the expiration or
termination of such Credit Support Document or the failing or ceasing of such Credit Support Document to be in full force and effect for the purpose of this Agreement (in either case other than in accordance with its terms) prior to the satisfaction
of all obligations of such party under each Transaction to which such Credit Support Document relates without the written consent of the other party; or 
 (3)    the party or such Credit Support Provider disaffirms, disclaims, repudiates or rejects, in whole or in part, or challenges the validity of, such Credit Support Document; 
 (iv)    Misrepresentation. A representation (other than a representation under Section 3(e) or (f))
made or repeated or deemed to have been made or repeated by the party or any Credit Support Provider of such party in this Agreement or any Credit Support Document proves to have been incorrect or misleading in any material respect when made or
repeated or deemed to have been made or repeated; 
 (v)    Default under Specified
Transaction. The party, any Credit Support Provider of such party or any applicable Specified Entity of such party (1) defaults under a Specified Transaction and, after giving effect to any applicable notice requirement or grace period,
there occurs a liquidation of, an acceleration of obligations under, or an early termination of, that Specified Transaction, (2) defaults, after giving effect to any applicable notice requirement or grace period, in making any payment or
delivery due on the last payment, delivery or exchange date of, or any payment on early termination of, a Specified Transaction (or such default continues for at least three Local Business Days if there is no applicable notice requirement or grace
period) or (3) disaffirms, disclaims, repudiates or rejects, in whole or in part, a Specified Transaction (or such action is taken by any person or entity appointed or empowered to operate it or act on its behalf); 
 (vi)    Cross Default. If “Cross Default” is specified in the Schedule as applying to the
party, the occurrence or existence of (1) a default, event of default or other similar condition or event (however described) in respect of such party, any Credit Support 
  

			
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 Provider of such party or any applicable Specified Entity of such party under one or more
agreements or instruments relating to Specified Indebtedness of any of them (individually or collectively) in an aggregate amount of not less than the applicable Threshold Amount (as specified in the Schedule) which has resulted in such Specified
Indebtedness becoming, or becoming capable at such time of being declared, due and payable under such agreements or instruments, before it would otherwise have been due and payable or (2) a default by such party, such Credit Support Provider or
such Specified Entity (individually or collectively) in making one or more payments on the due date thereof in an aggregate amount of not less than the applicable Threshold Amount under such agreements or instruments (after giving effect to any
applicable notice requirement or grace period); 
 (vii)    Bankruptcy. The party, any
Credit Support Provider of such party or any applicable Specified Entity of such party: — 
 (1)    is dissolved (other than pursuant to a consolidation, amalgamation or merger); (2) becomes insolvent or is unable to pay its debts or fails or admits in writing its inability generally to pay its debts as
they become due; (3) makes a general assignment, arrangement or composition with or for the benefit of its creditors; (4) institutes or has instituted against it a proceeding seeking a judgment of insolvency or bankruptcy or any other
relief under any bankruptcy or insolvency law or other similar law affecting creditors’ rights, or a petition is presented for its winding-up or liquidation, and, in the case of any such proceeding or petition instituted or presented against
it, such proceeding or petition (A) results in a judgment of insolvency or bankruptcy or the entry of an order for relief or the making of an order for its winding-up or liquidation or (B) is not dismissed, discharged, stayed or restrained
in each case within 30 days of the institution or presentation thereof; (5) has a resolution passed for its winding-up, official management or liquidation (other than pursuant to a consolidation, amalgamation or merger); (6) seeks or
becomes subject to the appointment of an administrator, provisional liquidator, conservator, receiver, trustee, custodian or other similar official for it or for all or substantially all its assets; (7) has a secured party take possession of
all or substantially all its assets or has a distress, execution, attachment, sequestration or other legal process levied, enforced or sued on or against all or substantially all its assets and such secured party maintains possession, or any such
process is not dismissed, discharged, stayed or restrained, in each case within 30 days thereafter; (8) causes or is subject to any event with respect to it which, under the applicable laws of any jurisdiction, has an analogous effect to any of
the events specified in clauses (1) to (7) (inclusive); or (9) takes any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the foregoing acts; or 
 (viii)    Merger Without Assumption. The party or any Credit Support Provider of such party consolidates
or amalgamates with, or merges with or into, or transfers all or substantially all its assets to, another entity and, at the time of such consolidation, amalgamation, merger or transfer: — 
 (1)    the resulting, surviving or transferee entity fails to assume all the obligations of such party or such Credit
Support Provider under this Agreement or any Credit Support Document to which it or its predecessor was a party by operation of law or pursuant to an agreement reasonably satisfactory to the other party to this Agreement; or 
 (2)    the benefits of any Credit Support Document fail to extend (without the consent of the other party) to the
performance by such resulting, surviving or transferee entity of its obligations under this Agreement. 
 (b)    Termination Events. The occurrence at any time with respect to a party or, if applicable, any Credit Support Provider of such party or any Specified Entity of such party of any event specified below
constitutes an Illegality if the event is specified in (i) below, a Tax Event if the event is specified in (ii) below or a Tax Event Upon Merger if the event is specified in (iii) below, and, if specified to 
  

			
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 be applicable, a Credit Event Upon Merger if the event is specified pursuant to (iv) below or an
Additional Termination Event if the event is specified pursuant to (v) below:— 
 (i)    Illegality. Due to the adoption of, or any change in, any applicable law after the date on which a Transaction is entered into, or due to the promulgation of, or any change in, the
interpretation by any court, tribunal or regulatory authority with competent jurisdiction of any applicable law after such date, it becomes unlawful (other than as a result of a breach by the party of Section 4(b)) for such party (which will be
the Affected Party): — 
 (1)    to perform any absolute or contingent obligation to make a payment
or delivery or to receive a payment or delivery in respect of such Transaction or to comply with any other material provision of this Agreement relating to such Transaction; or 
 (2)    to perform, or for any Credit Support Provider of such party to perform, any contingent or other obligation which the party (or such Credit Support Provider) has under
any Credit Support Document relating to such Transaction; 
 (ii)    Tax Event. Due to
(x) any action taken by a taxing authority, or brought in a court of competent jurisdiction, on or after the date on which a Transaction is entered into (regardless of whether such action is taken or brought with respect to a party to this
Agreement) or (y) a Change in Tax Law, the party (which will be the Affected Party) will, or there is a substantial likelihood that it will, on the next succeeding Scheduled Payment Date (1) be required to pay to the other party an
additional amount in respect of an Indemnifiable Tax under Section 2(d)(i)(4) (except in respect of interest under Section 2(e), 6(d)(ii) or 6(e)) or (2) receive a payment from which an amount is required to be deducted or
withheld for or on account of a Tax (except in respect of interest under Section 2(e), 6(d)(ii) or 6(e)) and no additional amount is required to be paid in respect of such Tax under Section 2(d)(i)(4) (other than by reason of
Section 2(d)(i)(4)(A) or (B)); 
 (iii)    Tax Event Upon Merger. The party (the
“Burdened Party”) on the next succeeding Scheduled Payment Date will either (1) be required to pay an additional amount in respect of an Indemnifiable Tax under Section 2(d)(i)(4) (except in respect of interest under
Section 2(e), 6(d)(ii) or 6(e)) or (2) receive a payment from which an amount has been deducted or withheld for or on account of any Indemnifiable Tax in respect of which the other party is not required to pay an additional amount (other than
by reason of Section 2(d)(i)(4)(A) or (B)), in either case as a result of a party consolidating or amalgamating with, or merging with or into, or transferring all or substantially all its assets to, another entity (which will be the Affected
Party) where such action does not constitute an event described in Section 5(a)(viii); 
 (iv)    Credit Event Upon Merger. If “Credit Event Upon Merger” is specified in the Schedule as applying to the party, such party (“X”), any Credit Support Provider of X or any
applicable Specified Entity of X consolidates or amalgamates with, or merges with or into, or transfers all or substantially all its assets to, another entity and such action does not constitute an event described in Section 5(a)(viii) but the
creditworthiness of the resulting, surviving or transferee entity is materially weaker than that of X, such Credit Support Provider or such Specified Entity, as the case may be, immediately prior to such action (and, in such event, X or its
successor or transferee, as appropriate, will be the Affected Party); or 
 (v)    Additional
Termination Event. If any “Additional Termination Event” is specified in the Schedule or any Confirmation as applying, the occurrence of such event (and, in such event, the Affected Party or Affected Parties shall be as specified
for such Additional Termination Event in the Schedule or such Confirmation). 
 (c)    Event of Default and
Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default. 
  

			
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	 6.
	 Early Termination 

 (a)    Right to Terminate Following Event of Default. If at any time an Event of Default with respect to a party (the “Defaulting Party”) has occurred and is then continuing, the
other party (the “Non-defaulting Party”) may, by not more than 20 days notice to the Defaulting Party specifying the relevant Event of Default, designate a day not earlier than the day such notice is effective as an Early Termination Date
in respect of all outstanding Transactions. If, however, “Automatic Early Termination” is specified in the Schedule as applying to a party, then an Early Termination Date in respect of all outstanding Transactions will occur immediately
upon the occurrence with respect to such party of an Event of Default specified in Section 5(a)(vii)(1), (3), (5), (6) or, to the extent analogous thereto, (8), and as of the time immediately preceding the institution of the relevant
proceeding or the presentation of the relevant petition upon the occurrence with respect to such party of an Event of Default specified in Section 5(a)(vii)(4) or, to the extent analogous thereto, (8). 
 (b)    Right to Terminate Following Termination Event. 
 (i)    Notice. If a Termination Event occurs, an Affected Party will, promptly upon
becoming aware of it, notify the other party, specifying the nature of that Termination Event and each Affected Transaction and will also give such other information about that Termination Event as the other party may reasonably require. 

(ii)    Transfer to Avoid Termination Event. If either an Illegality under
Section 5(b)(i)(1) or a Tax Event occurs and there is only one Affected Party, or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party, the Affected Party will, as a condition to its right to designate an Early
Termination Date under Section 6(b)(iv), use all reasonable efforts (which will not require such party to incur a loss, excluding immaterial, incidental expenses) to transfer within 20 days after it gives notice under Section 6(b)(i) all
its rights and obligations under this Agreement in respect of the Affected Transactions to another of its Offices or Affiliates so that such Termination Event ceases to exist. 
 If the Affected Party is not able to make such a transfer it will give notice to the other party to that effect within such 20 day period, whereupon the other party may effect such a transfer
within 30 days after the notice is given under Section 6(b)(i). 
 Any such transfer by a party under this
Section 6(b)(ii) will be subject to and conditional upon the prior written consent of the other party, which consent will not be withheld if such other party’s policies in effect at such time would permit it to enter into transactions with
the transferee on the terms proposed. 
 (iii)    Two Affected Parties. If an Illegality
under Section 5(b)(i)(1) or a Tax Event occurs and there are two Affected Parties, each party will use all reasonable efforts to reach agreement within 30 days after notice thereof is given under Section 6(b)(i) on action to avoid that
Termination Event. 
 (iv)    Right to Terminate. If: — 
 (1)    a transfer under Section 6(b)(ii) or an agreement under Section 6(b)(iii), as the case may be, has
not been effected with respect to all Affected Transactions within 30 days after an Affected Party gives notice under Section 6(b)(i); or 
 (2)    an Illegality under Section 5(b)(i)(2), a Credit Event Upon Merger or an Additional Termination Event occurs, or a Tax Event Upon Merger occurs and the Burdened Party is not the
Affected Party, 
 either party in the case of an Illegality, the Burdened Party in the case of a Tax Event Upon Merger, any
Affected Party in the case of a Tax Event or an Additional Termination Event if there is more than one Affected Party, or the party which is not the Affected Party in the case of a Credit Event Upon Merger or an Additional Termination Event if there
is only one Affected Party may, by not more than 20 days notice to the other party and provided that the relevant Termination Event is then continuing, 
  

			
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 designate a day not earlier than the day such notice is effective as an Early Termination
Date in respect of all Affected Transactions. 
  

	 (c)
	 Effect of Designation. 

 (i)    If notice designating an Early Termination Date is given under Section 6(a) or (b), the Early Termination Date will occur on the date so designated, whether or not
the relevant Event of Default or Termination Event is then continuing. 
 (ii)    Upon the occurrence or
effective designation of an Early Termination Date, no further payments or deliveries under Section 2(a)(i) or 2(e) in respect of the Terminated Transactions will be required to be made, but without prejudice to the other provisions of this
Agreement. The amount, if any, payable in respect of an Early Termination Date shall be determined pursuant to Section 6(e). 
  

	 (d)
	 Calculations. 

 (i)    Statement. On or as soon as reasonably practicable following the occurrence of an Early Termination Date, each party will make the calculations on its part, if
any, contemplated by Section 6(e) and will provide to the other party a statement (1) showing, in reasonable detail, such calculations (including all relevant quotations and specifying any amount payable under Section 6(e)) and
(2) giving details of the relevant account to which any amount payable to it is to be paid. In the absence of written confirmation from the source of a quotation obtained in determining a Market Quotation, the records of the party obtaining
such quotation will be conclusive evidence of the existence and accuracy of such quotation. 
 (ii)    Payment Date. An amount calculated as being due in respect of any Early Termination Date under Section 6(e) will be payable on the day that notice of the amount payable is
effective (in the case of an Early Termination Date which is designated or occurs as a result of an Event of Default) and on the day which is two Local Business Days after the day on which notice of the amount payable is effective (in the case of an
Early Termination Date which is designated as a result of a Termination Event). Such amount will be paid together with (to the extent permitted under applicable law) interest thereon (before as well as after judgment) in the Termination Currency,
from (and including) the relevant Early Termination Date to (but excluding) the date such amount is paid, at the Applicable Rate. Such interest will be calculated on the basis of daily compounding and the actual number of days elapsed. 

(e)    Payments on Early Termination. If an Early Termination Date occurs, the following provisions
shall apply based on the parties’ election in the Schedule of a payment measure, either “Market Quotation” or “Loss”, and a payment method, either the “First Method” or the “Second Method”. If the parties
fail to designate a payment measure or payment method in the Schedule, it will be deemed that “Market Quotation” or the “Second Method”, as the case may be, shall apply. The amount, if any, payable in respect of an Early
Termination Date and determined pursuant to this Section will be subject to any Set-off. 
 (i)    Events of Default. If the Early Termination Date results from an Event of Default: — 
 (1)    First Method and Market Quotation. If the First Method and Market Quotation apply, the Defaulting Party will pay to the Non-defaulting Party the excess, if a positive number, of
(A) the sum of the Settlement Amount (determined by the Non-defaulting Party) in respect of the Terminated Transactions and the Termination Currency Equivalent of the Unpaid Amounts owing to the Non-defaulting Party over (B) the
Termination Currency Equivalent of the Unpaid Amounts owing to the Defaulting Party. 
 (2)    First
Method and Loss. If the First Method and Loss apply, the Defaulting Party will pay to the Non-defaulting Party, if a positive number, the Non-defaulting Party’s Loss in respect of this Agreement. 
 (3)    Second Method and Market Quotation. If the Second Method and Market Quotation apply, an amount will be
payable equal to (A) the sum of the Settlement Amount (determined by the Non-defaulting Party) in respect of the Terminated 
  

			
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 Transactions and the Termination Currency Equivalent of the Unpaid Amounts owing to the
Non-defaulting Party less (B) the Termination Currency Equivalent of the Unpaid Amounts owing to the Defaulting Party. If that amount is a positive number, the Defaulting Party will pay it to the Non-defaulting Party; if it is a negative
number, the Non-defaulting Party will pay the absolute value of that amount to the Defaulting Party. 
 (4)    Second Method and Loss. If the Second Method and Loss apply, an amount will be payable equal to the Non-defaulting Party’s Loss in respect of this Agreement. If that amount is a positive number, the
Defaulting Party will pay it to the Non-defaulting Party; if it is a negative number, the Non-defaulting Party will pay the absolute value of that amount to the Defaulting Party. 
 (ii)    Termination Events. If the Early Termination Date results from a Termination
Event: — 
 (1)    One Affected Party. If there is one Affected Party, the amount payable will
be determined in accordance with Section 6(e)(i)(3), if Market Quotation applies, or Section 6(e)(i)(4), if Loss applies, except that, in either case, references to the Defaulting Party and to the Non-defaulting Party will be deemed to be
references to the Affected Party and the party which is not the Affected Party, respectively, and, if Loss applies and fewer than all the Transactions are being terminated, Loss shall be calculated in respect of all Terminated Transactions.

 (2)    Two Affected Parties. If there are two Affected Parties: — 
 (A)    if Market Quotation applies, each party will determine a Settlement Amount in respect of the Terminated
Transactions, and an amount will be payable equal to (I) the sum of (a) one-half of the difference between the Settlement Amount of the party with the higher Settlement Amount (“X”) and the Settlement Amount of the party with the
lower Settlement Amount (“Y”) and (b) the Termination Currency Equivalent of the Unpaid Amounts owing to X less (II) the Termination Currency Equivalent of the Unpaid Amounts owing to Y; and 
 (B)    if Loss applies, each party will determine its Loss in respect of this Agreement (or, if fewer than all the
Transactions are being terminated, in respect of all Terminated Transactions) and an amount will be payable equal to one-half of the difference between the Loss of the party with the higher Loss (“X”) and the Loss of the party with the
lower Loss (“Y”). 
 If the amount payable is a positive number, Y will pay it to X; if it is a negative number, X
will pay the absolute value of that amount to Y. 
 (iii)    Adjustment for
Bankruptcy. In circumstances where an Early Termination Date occurs because “Automatic Early Termination” applies in respect of a party, the amount determined under this Section 6(e) will be subject to such adjustments
as are appropriate and permitted by law to reflect any payments or deliveries made by one party to the other under this Agreement (and retained by such other party) during the period from the relevant Early Termination Date to the date for payment
determined under Section 6(d)(ii). 
 (iv)    Pre-Estimate. The parties
agree that if Market Quotation applies an amount recoverable under this Section 6(e) is a reasonable pre-estimate of loss and not a penalty. Such amount is payable for the loss of bargain and the loss of protection against future risks and
except as otherwise provided in this Agreement neither party will be entitled to recover any additional damages as a consequence of such losses. 
  

			
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	 7.
	 Transfer 

 Subject to
Section 6(b)(ii), neither this Agreement nor any interest or obligation in or under this Agreement may be transferred (whether by way of security or otherwise) by either party without the prior written consent of the other party, except that:
— 
 (a)    a party may make such a transfer of this Agreement pursuant to a consolidation or amalgamation with, or
merger with or into, or transfer of all or substantially all its assets to, another entity (but without prejudice to any other right or remedy under this Agreement); and 
 (b)    a party may make such a transfer of all or any part of its interest in any amount payable to it from a Defaulting Party under Section 6(e). 
 Any purported transfer that is not in compliance with this Section will be void. 
  

	 8.
	 Contractual Currency 

 (a)    Payment in the Contractual Currency. Each payment under this Agreement will be made in the relevant currency specified in this Agreement for that payment (the
“Contractual Currency”). To the extent permitted by applicable law, any obligation to make payments under this Agreement in the Contractual Currency will not be discharged or satisfied by any tender in any currency other than the
Contractual Currency, except to the extent such tender results in the actual receipt by the party to which payment is owed, acting in a reasonable manner and in good faith in converting the currency so tendered into the Contractual Currency, of the
full amount in the Contractual Currency of all amounts payable in respect of this Agreement. If for any reason the amount in the Contractual Currency so received falls short of the amount in the Contractual Currency payable in respect of this
Agreement, the party required to make the payment will, to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall. If for any reason the amount
in the Contractual Currency so received exceeds the amount in the Contractual Currency payable in respect of this Agreement, the party receiving the payment will refund promptly the amount of such excess. 
 (b)    Judgments. To the extent permitted by applicable law, if any judgment or order expressed in a
currency other than the Contractual Currency is rendered (i) for the payment of any amount owing in respect of this Agreement, (ii) for the payment of any amount relating to any early termination in respect of this Agreement or
(iii) in respect of a judgment or order of another court for the payment of any amount described in (i) or (ii) above, the party seeking recovery, after recovery in full of the aggregate amount to which such party is entitled pursuant
to the judgment or order, will be entitled to receive immediately from the other party the amount of any shortfall of the Contractual Currency received by such party as a consequence of sums paid in such other currency and will refund promptly to
the other party any excess of the Contractual Currency received by such party as a consequence of sums paid in such other currency if such shortfall or such excess arises or results from any variation between the rate of exchange at which the
Contractual Currency is converted into the currency of the judgment or order for the purposes of such judgment or order and the rate of exchange at which such party is able, acting in a reasonable manner and in good faith in converting the currency
received into the Contractual Currency, to purchase the Contractual Currency with the amount of the currency of the judgment or order actually received by such party. The term “rate of exchange” includes, without limitation, any premiums
and costs of exchange payable in connection with the purchase of or conversion into the Contractual Currency. 
 (c)    Separate Indemnities. To the extent permitted by applicable law, these indemnities constitute separate and independent obligations from the other obligations in this Agreement, will be enforceable as
separate and independent causes of action, will apply notwithstanding any indulgence granted by the party to which any payment is owed and will not be affected by judgment being obtained or claim or proof being made for any other sums payable in
respect of this Agreement. 
 (d)    Evidence of Loss. For tbe purpose of this Section 8, it
will be sufficient for a party to demonstrate that it would have suffered a loss had an actual exchange or purchase been made. 
  

			
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	 9.
	 Miscellaneous 

 (a)    Entire Agreement. This Agreement constitutes the entire agreement and understanding of the parties with respect to its subject matter and supersedes all oral communication and prior
writings with respect thereto. 
 (b)    Amendments. No amendment, modification or waiver in
respect of this Agreement will be effective unless in writing (including a writing evidenced by a facsimile transmission) and executed by each of the parties or confirmed by an exchange of telexes or electronic messages on an electronic messaging
system. 
 (c)    Survival of Obligations. Without prejudice to Sections 2(a)(iii) and
6(c)(ii), the obligations of the parties under this Agreement will survive the termination of any Transaction. 
 (d)    Remedies Cumulative. Except as provided in this Agreement, the rights, powers, remedies and privileges provided in this Agreement are cumulative and not exclusive of any rights, powers,
remedies and privileges provided by law. 
 (e)    Counterparts and Confirmations. 

(i)    This Agreement (and each amendment, modification and waiver in respect of it) may be executed and delivered
in counterparts (including by facsimile transmission), each of which will be deemed an original. 
 (ii)    The parties intend that they are legally bound by the terms of each Transaction from the moment they agree to those terms (whether orally or otherwise). A Confirmation shall he entered into as soon as practicable
and may he executed and delivered in counterparts (including by facsimile transmission) or be created by an exchange of telexes or by an exchange of electronic messages on an electronic messaging system, which in each case will be sufficient for all
purposes to evidence a binding supplement to this Agreement. The parties will specify therein or through another effective means that any such counterpart, telex or electronic message constitutes a Confirmation. 
 (f)    No Waiver of Rights. A failure or delay in exercising any right, power or privilege in
respect of this Agreement will not be presumed to operate as a waiver, and a single or partial exercise of any right, power or privilege will not be presumed to preclude any subsequent or further exercise, of that right, power or privilege or the
exercise of any other right, power or privilege. 
 (g)    Headings. The headings used in this
Agreement are for convenience of reference only and are not to affect the construction of or to be taken into consideration in interpreting this Agreement. 
  

	 10.
	 Offices; Multibranch Parties 

 (a)    If Section 10(a) is specified in the Schedule as applying, each party that enters into a Transaction through an Office other than its head or home office represents to the other party that, notwithstanding
the place of booking office or jurisdiction of incorporation or organisation of such party, the obligations of such party are the same as if it had entered into the Transaction through its head or home office. This representation will be deemed to
be repeated by such party on each date on which a Transaction is entered into. 
 (b)    Neither party may change the
Office through which it makes and receives payments or deliveries for the purpose of a Transaction without the prior written consent of the other party. 
 (c)    If a party is specified as a Multibranch Party in the Schedule, such Multibranch Party may make and receive payments or deliveries under any Transaction through any Office listed in the
Schedule, and the Office through which it makes and receives payments or deliveries with respect to a Transaction will be specified in the relevant Confirmation. 
  

	 11.
	 Expenses 

 A Defaulting
Party will, on demand, indemnify and hold harmless the other party for and against all reasonable out-of-pocket expenses, including legal fees and Stamp Tax, incurred by such other party by reason of the enforcement and protection of its rights
under this Agreement or any Credit Support Document to which the Defaulting Party is a party or by reason of the early termination of any Transaction, including, but not limited to, costs of collection. 
  

			
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	 12.
	 Notices 

 (a)    Effectiveness. Any notice or other communication in respect of this Agreement may be given in any manner set forth below (except that a notice or other communication under Section 5 or 6 may not
be given by facsimile transmission or electronic messaging system) to the address or number or in accordance with the electronic messaging system details provided (see the Schedule) and will be deemed effective as indicated:— 
 (i)    if in writing and delivered in person or by courier, on the date it is delivered; 
 (ii)    if sent by telex, on the date the recipient’s answerback is received; 
 (iii)    if sent by facsimile transmission, on the date that transmission is received by a responsible employee of the
recipient in legible form (it being agreed that the burden of proving receipt will be on the sender and will not be met by a transmission report generated by the sender’s facsimile machine); 
 (iv)    if sent by certified or registered mail (airmail, if overseas) or the equivalent (return receipt requested),
on the date that mail is delivered or its delivery is attempted; or 
 (v)    if sent by electronic
messaging system, on the date that electronic message is received, 
 unless the date of that delivery (or attempted delivery) or that
receipt, as applicable, is not a Local Business Day or that communication is delivered (or attempted) or received, as applicable, after the close of business on a Local Business Day, in which case that communication shall be deemed given and
effective on the first following day that is a Local Business Day. 
 (b)    Change of Addresses. Either
party may by notice to the other change the address, telex or facsimile number or electronic messaging system details at which notices or other communications are to be given to it. 
  

	 13.
	 Governing Law and Jurisdiction 

 (a)    Governing Law. This Agreement will be governed by and construed in accordance with the law specified in the Schedule. 
 (b)    Jurisdiction. With respect to any suit, action or proceedings relating to this Agreement (“Proceedings”), each party irrevocably:— 
 (i)    submits to the jurisdiction of the English courts, if this Agreement is expressed to be governed by English
law, or to the non-exclusive jurisdiction of the courts of the State of New York and the United States District Court located in the Borough of Manhattan in New York City, if this Agreement is expressed to be governed by the laws of the State of New
York; and 
 (ii)    waives any objection which it may have at any time to the laying of venue of any
Proceedings brought in any such court, waives any claim that such Proceedings have been brought in an inconvenient forum and further waives the right to object, with respect to such Proceedings, that such court does not have any jurisdiction over
such party. 
 Nothing in this Agreement precludes either party from bringing Proceedings in any other jurisdiction (outside, if this
Agreement is expressed to be governed by English law, the Contracting States, as defined in Section 1(3) of the Civil Jurisdiction and Judgments Act 1982 or any modification, extension or re-enactment thereof for the time being in force) nor
will the bringing of Proceedings in any one or more jurisdictions preclude the bringing of Proceedings in any other jurisdiction. 
 (c)    Service of Process. Each party irrevocably appoints the Process Agent (if any) specified opposite its name in the Schedule to receive, for it and on its behalf, service of process in any Proceedings.
If for any reason any party’s Process Agent is unable to act as 
  

			
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 such, such party will promptly notify the other party and within 30 days appoint a substitute process
agent acceptable to the other party. The parties irrevocably consent to service of process given in the manner provided for notices in Section 12. Nothing in this Agreement will affect the right of either party to serve process in any other
manner permitted by law. 
 (d)    Waiver of Immunities. Each party irrevocably waives, to
the fullest extent permitted by applicable law, with respect to itself and its revenues and assets (irrespective of their use or intended use), all immunity on the grounds of sovereignty or other similar grounds from (i) suit,
(ii) jurisdiction of any court, (iii) relief by way of injunction, order for specific performance or for recovery of property, (iv) attachment of its assets (whether before or after judgment) and (v) execution or enforcement of
any judgment to which it or its revenues or assets might otherwise be entitled in any Proceedings in the courts of any jurisdiction and irrevocably agrees, to the extent permitted by applicable law, that it will not claim any such immunity in any
Proceedings. 
  

	 14.
	 Definitions 

 As used in
this Agreement:— 
 “Additional Termination Event” has the meaning specified in Section 5(b).

 “Affected Party” has the meaning specified in Section 5(b). 
 “Affected Transactions” means (a) with respect to any Termination Event consisting of an Illegality, Tax Event
or Tax Event Upon Merger, all Transactions affected by the occurrence of such Termination Event and (b) with respect to any other Termination Event, all Transactions. 
 “Affiliate” means, subject to the Schedule, in relation to any person, any entity controlled, directly or indirectly, by the person, any entity that
controls, directly or indirectly, the person or any entity directly or indirectly under common control with the person. For this purpose, “control” of any entity or person means ownership of a majority of the voting power of the entity or
person. 
 “Applicable Rate” means:— 
 (a)    in respect of obligations payable or deliverable (or which would have been but for Section 2(a)(iii)) by a Defaulting Party, the Default Rate; 
 (b)    in respect of an obligation to pay an amount under Section 6(e) of either party from and after the date (determined in
accordance with Section 6(d)(ii)) on which that amount is payable, the Default Rate; 
 (c)    in respect of all
other obligations payable or deliverable (or which would have been but for Section 2(a)(iii)) by a Non-defaulting Party, the Non-default Rate; and 
 (d)    in all other cases, the Termination Rate.  
 “Burdened
Party” has the meaning specified in Section 5(b). 
 “Change in Tax
Law” means the enactment, promulgation, execution or ratification of, or any change in or amendment to, any law (or in the application or official interpretation of any law) that occurs on or after the date on which the relevant
Transaction is entered into. 
 “consent” includes a consent, approval, action, authorisation,
exemption, notice, filing, registration or exchange control consent. 
 “Credit Event Upon Merger” has
the meaning specified in Section 5(b). 
 “Credit Support Document” means any agreement or
instrument that is specified as such in this Agreement. 
 “Credit Support Provider” has the meaning
specified in the Schedule. 
 “Default Rate” means a rate per annum equal to the cost (without proof or
evidence of any actual cost) to the relevant payee (as certified by it) if it were to fund or of funding the relevant amount plus 1% per annum. 
  

			
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 “Defaulting Party” has the meaning specified in Section 6(a).

 “Early Termination Date” means the date determined in accordance with Section 6(a) or 6(b)(iv).
 
 “Event of Default” has the meaning specified in Section 5(a) and, if applicable, in the
Schedule. 
 “Illegality” has the meaning specified in Section 5(b). 
 “Indemnifiable Tax” means any Tax other than a Tax that would not be imposed in respect of a payment under this
Agreement but for a present or former connection between the jurisdiction of the government or taxation authority imposing such Tax and the recipient of such payment or a person related to such recipient (including, without limitation, a connection
arising from such recipient or related person being or having been a citizen or resident of such jurisdiction, or being or having been organised, present or engaged in a trade or business in such jurisdiction, or having or having had a permanent
establishment or fixed place of business in such jurisdiction, but excluding a connection arising solely from such recipient or related person having executed, delivered, performed its obligations or received a payment under, or enforced, this
Agreement or a Credit Support Document). 
 “law” includes any treaty, law, rule or regulation (as
modified, in the case of tax matters, by the practice of any relevant governmental revenue authority) and “lawful” and “unlawful” will be construed accordingly. 

“Local Business Day” means, subject to the Schedule, a day on which commercial banks are open for business
(including dealings in foreign exchange and foreign currency deposits) (a) in relation to any obligation under Section 2(a)(i), in the place(s) specified in the relevant Confirmation or, if not so specified, as otherwise agreed by the
parties in writing or determined pursuant to provisions contained, or incorporated by reference, in this Agreement, (b) in relation to any other payment, in the place where the relevant account is located and, if different, in the principal
financial centre, if any, of the currency of such payment, (c) in relation to any notice or other communication, including notice contemplated under Section 5(a)(i), in the city specified in the address for notice provided by the recipient
and, in the case of a notice contemplated by Section 2(b), in the place where the relevant new account is to be located and (d) in relation to Section 5(a)(v)(2), in the relevant locations for performance with respect to such
Specified Transaction. 
 “Loss” means, with respect to this Agreement or one or more Terminated
Transactions, as the case may be, and a party, the Termination Currency Equivalent of an amount that party reasonably determines in good faith to be its total losses and costs (or gain, in which case expressed as a negative number) in connection
with this Agreement or that Terminated Transaction or group of Terminated Transactions, as the case may be, including any loss of bargain, cost of funding or, at the election of such party but without duplication, loss or cost incurred as a result
of its terminating, liquidating, obtaining or reestablishing any hedge or related trading position (or any gain resulting from any of them). Loss includes losses and costs (or gains) in respect of any payment or delivery required to have been made
(assuming satisfaction of each applicable condition precedent) on or before the relevant Early Termination Date and not made, except, so as to avoid duplication, if Section 6(e)(i)(l) or (3) or 6(e)(ii)(2)(A) applies. Loss does not include
a party’s legal fees and out-of-pocket expenses referred to under Section 11. A party will determine its Loss as of the relevant Early Termination Date, or, if that is not reasonably practicable, as of the earliest date thereafter as is
reasonably practicable. A party may (but need not) determine its Loss by reference to quotations of relevant rates or prices from one or more leading dealers in the relevant markets. 
 “Market Quotation” means, with respect to one or more Terminated Transactions and a party making the determination, an amount determined on the basis of
quotations from Reference Market-makers. Each quotation will be for an amount, if any, that would be paid to such party (expressed as a negative number) or by such party (expressed as a positive number) in consideration of an agreement between such
party (taking into account any existing Credit Support Document with respect to the obligations of such party) and the quoting Reference Market-maker to enter into a transaction (the “Replacement Transaction”) that would have the effect of
preserving for such party the economic equivalent of any payment or delivery (whether the underlying obligation was absolute or contingent and assuming the satisfaction of each applicable condition precedent) by the parties under
Section 2(a)(i) in respect of such Terminated Transaction or group of Terminated Transactions that would, but for the occurrence of the relevant Early Termination Date, have 
  

			
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 been required after that date. For this purpose, Unpaid Amounts in respect of the Terminated Transaction
or group of Terminated Transactions are to be excluded but, without limitation, any payment or delivery that would, but for the relevant Early Termination Date, have been required (assuming satisfaction of each applicable condition precedent) after
that Early Termination Date is to be included. The Replacement Transaction would be subject to such documentation as such party and the Reference Market-maker may, in good faith, agree. The party making the determination (or its agent) will request
each Reference Market-maker to provide its quotation to the extent reasonably practicable as of the same day and time (without regard to different time zones) on or as soon as reasonably practicable after the relevant Early Termination Date. The day
and time as of which those quotations are to be obtained will be selected in good faith by the party obliged to make a determination under Section 6(e), and, if each party is so obliged, after consultation with the other. If more than three
quotations are provided, the Market Quotation will be the arithmetic mean of the quotations, without regard to the quotations having the highest and lowest values. If exactly three such quotations are provided, the Market Quotation will be the
quotation remaining after disregarding the highest and lowest quotations. For this purpose, if more than one quotation has the same highest value or lowest value, then one of such quotations shall be disregarded. If fewer than three quotations are
provided, it will be deemed that the Market Quotation in respect of such Terminated Transaction or group of Terminated Transactions cannot be determined. 
 “Non-default Rate” means a rate per annum equal to the cost (without proof or evidence of any actual cost) to the Non-defaulting Party (as certified by it) if it were to fund the relevant
amount. 
 “Non-defaulting Party” has the meaning specified in Section 6(a). 
 “Office” means a branch or office of a party, which may be such party’s head or home office. 
 “Potential Event of Default” means any event which, with the giving of notice or the lapse of time or both, would constitute an
Event of Default. 
 “Reference Market-makers” means four leading dealers in the relevant market selected by the party
determining a Market Quotation in good faith (a) from among dealers of the highest credit standing which satisfy all the criteria that such party applies generally at the time in deciding whether to offer or to make an extension of credit and
(b) to the extent practicable, from among such dealers having an office in the same city. 
 “Relevant
Jurisdiction” means, with respect to a party, the jurisdictions (a) in which the party is incorporated, organised, managed and controlled or considered to have its seat, (b) where an Office through which the party is acting
for purposes of this Agreement is located, (c) in which the party executes this Agreement and (d) in relation to any payment, from or through which such payment is made. 
 “Scheduled Payment Date” means a date on which a payment or delivery is to be made under Section 2(a)(i) with respect to a Transaction. 
 “Set-off” means set-off, offset, combination of accounts, right of retention or withholding or similar right or requirement to
which the payer of an amount under Section 6 is entitled or subject (whether arising under this Agreement, another contract, applicable law or otherwise) that is exercised by, or imposed on, such payer. 
 “Settlement Amount” means, with respect to a party and any Early Termination Date, the sum of: — 
 (a)    the Termination Currency Equivalent of the Market Quotations (whether positive or negative) for each Terminated Transaction or
group of Terminated Transactions for which a Market Quotation is determined; and 
 (b)    such party’s Loss (whether
positive or negative and without reference to any Unpaid Amount(s) for each Terminated Transaction or group of Terminated Transactions for which a Market Quotation cannot be determined or would not (in the reasonable belief of the party making the
determination) produce a commercially reasonable result. 
 “Specified Entity” has the meanings specified in the
Schedule. 
  

			
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 “Specified Indebtedness” means, subject to the Schedule, any obligation (whether
present or future, contingent or otherwise, as principal or surety or otherwise) in respect of borrowed money. 
 “Specified
Transaction” means, subject to the Schedule, (a) any transaction (including an agreement with respect thereto) now existing or hereafter entered into between one party to this Agreement (or any Credit Support Provider of such party
or any applicable Specified Entity of such party) and the other party to this Agreement (or any Credit Support Provider of such other party or any applicable Specified Entity of such other party) which is a rate swap transaction, basis swap, forward
rate transaction, commodity swap, commodity option, equity or equity index swap, equity or equity index option, bond option, interest rate option, foreign exchange transaction, cap transaction, floor transaction, collar transaction, currency swap
transaction, cross-currency rate swap transaction, currency option or any other similar transaction (including any option with respect to any of these transactions), (b) any combination of these transactions and (c) any other transaction
identified as a Specified Transaction in this Agreement or the relevant confirmation. 
 “Stamp Tax” means any stamp,
registration, documentation or similar tax. 
 “Tax” means any present or future tax, levy, impost, duty, charge,
assessment or fee of any nature (including interest, penalties and additions thereto) that is imposed by any government or other taxing authority in respect of any payment under this Agreement other than a stamp, registration, documentation or
similar tax. 
 “Tax Event” has the meaning specified in Section 5(b). 
 “Tax Event Upon Merger” has the meaning specified in Section 5(b). 
 “Terminated Transactions” means with respect to any Early Termination Date (a) if resulting from a Termination Event, all Affected Transactions and (b) if
resulting from an Event of Default, all Transactions (in either case) in effect immediately before the effectiveness of the notice designating that Early Termination Date (or, if “Automatic Early Termination” applies, immediately before
that Early Termination Date). 
 “Termination Currency” has the meaning specified in the Schedule. 
 “Termination Currency Equivalent” means, in respect of any amount denominated in the Termination Currency, such Termination
Currency amount and, in respect of any amount denominated in a currency other than the Termination Currency (the “Other Currency”), the amount in the Termination Currency determined by the party making the relevant determination as being
required to purchase such amount of such Other Currency as at the relevant Early Termination Date, or, if the relevant Market Quotation or Loss (as the case may be), is determined as of a later date, that later date, with the Termination Currency at
the rate equal to the spot exchange rate of the foreign exchange agent (selected as provided below) for the purchase of such Other Currency with the Termination Currency at or about 11:00 a.m. (in the city in which such foreign exchange agent is
located) on such date as would be customary for the determination of such a rate for the purchase of such Other Currency for value on the relevant Early Termination Date or that later date. The foreign exchange agent will, if only one party is
obliged to make a determination under Section 6(e), be selected in good faith by that party and otherwise will be agreed by the parties. 
 “Termination Event” means an Illegality, a Tax Event or a Tax Event Upon Merger or, if specified to be applicable, a Credit Event Upon Merger or an Additional Termination Event. 
 “Termination Rate” means a rate per annum equal to the arithmetic mean of the cost (without proof or evidence of any actual cost)
to each party (as certified by such party) if it were to fund or of funding such amounts. 
 “Unpaid Amounts” owing to
any party means, with respect to an Early Termination Date, the aggregate of (a) in respect of all Terminated Transactions, the amounts that became payable (or that would have become payable but for Section 2(a)(iii)) to such party under
Section 2(a)(i) on or prior to such Early Termination Date and which remain unpaid as at such Early Termination Date and (b) in respect of each Terminated Transaction, for each obligation under Section 2(a)(i) which was (or would have
been but for Section 2(a)(iii)) required to be settled by delivery to such party on or prior to such Early Termination Date and which has not been so settled as at such Early Termination Date, an amount equal to the fair market value of that
which was (or would have been) required 
  

			
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 to be delivered as of the originally scheduled date for delivery, in each case together with (to the
extent permitted under applicable law) interest, in the currency of such amounts, from (and including) the date such amounts or obligations were or would have been required to have been paid or performed to (but excluding) such Early Termination
Date, at the Applicable Rate. Such amounts of interest will be calculated on the basis of daily compounding and the actual number of days elapsed. The fair market value of any obligation referred to in clause (b) above shall be reasonably
determined by the party obliged to make the determination under Section 6(e) or, if each party is so obliged, it shall be the average of the Termination Currency Equivalents of the fair market values reasonably determined by both parties.

 IN WITNESS WHEREOF the parties have executed this document on the respective dates specified below with effect from the
date specified on the first page of this document. 
  

									
	 BARCLAYS BANK PLC
	 		 	 CAPITAL ONE AUTO FINANCE TRUST
 2007-A

				
		 		 		 	 By: Wilmington Trust Company, not in its individual
 capacity but solely as Owner Trustee

					
	By:	 	 /s/ Jay Kim
	 		 	 By:
	 	 /s/ J. Christopher Murphy

		 	 Name:            Jay Kim
	 		 		 	 Name:            J. Christopher Murphy

		 	 Title:              Managing Director
	 		 		 	 Title:              Financial Services Officer

		 	 Date:              February 9, 2007
	 		 		 	 Date:              February 15, 2007

  

				
	                                S-1	  	ISDA Master Agreement
(COAFT 2006-C	 
)Schedule to the ISDA Master Agreement

 EXHIBIT 10.6 
 SCHEDULE 
 to the 
 MASTER AGREEMENT 
 dated as of February 15, 2007 between 
 Barclays Bank PLC (“Party A”) 
 and 
 Capital One Auto Finance Trust
2007-A (“Party B”) 
 Reference is made to (i) that certain
Indenture dated as of February 15, 2007 (the “Indenture”) among Party B as the Issuer thereunder and The Bank of New York, as Indenture Trustee, and (ii) that certain Interest Rate Swap Insurance Policy issued on
February 15, 2007 (the “Swap Policy”) by Ambac Assurance Corporation (the “Insurer”), for the account of Party B, as principal, and for the benefit of Party A, as beneficiary. Capitalized terms used but not defined in this
Agreement or this Schedule will have the meanings ascribed to them in the Indenture. 
  

	Part 1.	Termination Provisions 

  

	(a)	“Specified Entity” means, with respect to Party A for all purposes of this Agreement, none specified, and with respect to Party B for all purposes of this
Agreement, none specified. 

  

	(b)	“Specified Transaction” has its meaning as defined in Section 14 of this Agreement. 

  

	(c)	“Breach of Agreement,” “Misrepresentation” and “Default under Specified Transaction” do not apply to Party A or Party B.

  

	(d)	“Cross Default” does not apply to Party A or Party B. 

  

	(e)	“Tax Event upon Merger” does not apply to Party A or Party B. 

  

	(f)	“Credit Event upon Merger” does not apply to Party A or Party B. 

  

	(g)	“Automatic Early Termination” does not apply to Party A or Party B. 

  

	(h)	Payments on Early Termination. “Market Quotation” and the “Second Method” apply. 

  

	(i)	“Termination Currency” means United States Dollars. 

  

	(j)	Limitation on Defaults by Party B. The Events of Default specified in Section 5 of this Agreement shall not apply to Party B except for the following:

  

	 	(i)	Section 5(a)(i) of this Agreement (Failure to Pay or Deliver) (which, notwithstanding anything to the contrary in this Agreement, shall not apply in connection with any amount
that has been paid by the Insurer); 

	 	(ii)	Section 5(a)(iii) of this Agreement (Credit Support Default) provided, that only with respect to the Indenture, an Event of Default (as defined in the Agreement) for
purposes hereof shall be limited to an Event of Default (as defined in the Indenture) specified in Sections 5.1(a), (b) or (e) of the Indenture; and 

  

	 	(iii)	Section 5(a)(vii) of this Agreement (Bankruptcy), provided that with respect to Party B clause (2) thereof shall not apply; clause (4) excludes actions taken
by Party A or its Affiliates; the words “seeks a”, “trustee, custodian” in clause (6) shall not apply to the Indenture Trustee or the Owner Trustee; clause (7) thereof shall not apply and at the end of clause
(8) the following language is added at the end “to the extent (1) – (7) apply”. 

  

	(k)	Additional Termination Events. 

  

	 	(i)	The occurrence of any of the following events shall be an Additional Termination Event: 

  

	 	(A)	Party A fails to comply with Part 6(s), (t) or (y)(ii) of this Agreement; 

  

	 	(B)	Party B fails to comply with subparagraph (f)(i) of Part 6 of this Agreement; any redemption, acceleration, auction, clean-up call or other prepayment in full, but not in part, of
the Notes outstanding occurs under the Indenture (or any notice is given to that effect and such redemption is not capable of being rescinded); any Event of Default occurs under Sections 5.1(a), (b) or (e) of the Indenture (or any notice
is given by the Indenture Trustee to that effect) and the Indenture Trustee and/or the Noteholders thereunder take any action or exercise any rights or remedies under the Indenture or under law that would result in (1) the appropriation of any
right, title and interest in and to the Collateral under the Indenture in satisfaction, in whole or in part, of the obligations secured thereby, but only to the extent that such appropriation has an adverse effect on Party A, (2) the sale,
liquidation or disposition of the Collateral under the Indenture and the application of the proceeds thereof, in whole or in part, to the obligations secured thereby, or (3) the release of the security interest in the Collateral granted under
the Indenture in exchange for receiving either the payment, in whole or in part, of the obligations secured thereby; or 

  

	 	(C)	 The Insurer fails, at any time during the term of this Agreement, to have (a) a claims paying ability rating of at least “A-” or higher from S&P,
(b) a financial strength rating of at least “A3” or higher from Moody’s or (c) a financial strength rating of at least “A-” or higher from Fitch and either (x) an Event of Default under this Agreement has

  

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occurred and is continuing with respect to which Party B is the Defaulting Party (but not with respect to the Insurer) or (y) a Termination Event has
occurred and is continuing with respect to which Party B is the Affected Party (but not with respect to the Insurer). 

  

	 	(D)	The Insurer fails to meet its payment obligations under the Swap Policy and such failure is continuing under the Swap Policy. 

  

	 	(ii)	For purposes of the right to terminate under Section 6(b)(iv) of the Agreement pursuant to any Additional Termination Event set forth above, Party A will be the sole Affected
Party for any Additional Termination Event described in Part 1(k)(i)(A) and Party B will be the sole Affected Party for any other Additional Termination Event. In each case, all Transactions shall be Affected Transactions. 

 

	 	(iii)	Notwithstanding anything to the contrary in Section 6 of this Agreement, if either an Event of Default or Termination Event has occurred and is continuing, neither Party A nor
Party B shall have the right to designate an Early Termination Date unless either (a) the Insurer has failed to pay any payment due to Party A under the terms and conditions of the Swap Policy or (b) the Insurer has consented in advance to
such designation in writing and any purported designation in violation of this provision will, at the election of the Insurer, be void and of no effect. The foregoing shall not apply to the following Events of Default or Termination Events, as the
case may be: (a) an Additional Termination Event under Part 1(k)(i)(C) or (D) or under Part 1(k)(i)(A) as a result of the failure of Party A to comply with Part 6(y)(ii) of this Agreement; (b) a Credit Support Default under
Section 5(a)(iii) of the Agreement relating to the Swap Policy; (c) a Bankruptcy with respect to the Insurer under Section 5(a)(vii) of the Agreement; or (d) an Illegality with respect to the Insurer under Section 5(b)(i)(2)
of the Agreement. 

  

	 	(iv)	At any time after the occurrence of an Event of Default for which Party B is the Defaulting Party, the Insurer (so long as none of the events specified in the last sentence of Part
1(k)(iii)(a) to (d) shall have occurred) shall have the right (but not the obligation) to direct Party A to designate an Early Termination Date. For purposes of the foregoing sentence, an Event of Default for which Party B is the Defaulting
Party shall be considered to be continuing notwithstanding any payments made by the Insurer pursuant to the Swap Policy. Each of Party A and Party B acknowledges that, except as the Swap Policy may be otherwise endorsed, unless the Insurer directs
Party A to designate an Early Termination Date (except as specified in Part 1(k)(iii)(b) and (c) above at a time when there exists an Event of Default or Termination Event with respect to Party B (but not with respect to the Insurer)) payments
due from Party B because an Early Termination Date has been designated will not be insured. 

  

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	 	(v)	Rating Agency means each of Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. (“S&P”) (so long as any Notes deemed
outstanding under the Indenture are rated by S&P) and Moody’s Investors Service, Inc. (“Moody’s”) (so long as any Notes deemed outstanding under the Indenture are rated by Moody’s) and Fitch, Inc. (“Fitch”) (so
long as any Notes deemed outstanding under the Indenture are rated by Fitch). 

  

	Part 2.	Tax Provisions 

  

	(a)	Payer Tax Representations. For the purpose of Section 3(e) of this Agreement, each party makes the following representation: 

 It is not required by any applicable law, as modified by the practice of any relevant governmental revenue authority, of any Relevant Jurisdiction to make
any deduction or withholding for or on account of any Tax from any payment (other than interest under Sections 2(e), 6(d)(ii) or 6(e) of this Agreement) to be made by it to the other party under this Agreement. 
 In making this representation, a party may rely on (i) the accuracy of any representations made by the other party pursuant to Section 3(f) of
this Agreement, (ii) the satisfaction of the agreement of the other party contained in Section 4(a)(i) or 4(a)(iii) of this Agreement, and the accuracy and effectiveness of any document provided by the other party pursuant to
Section 4(a)(i) or 4(a)(iii) of this Agreement, and (iii) the satisfaction of the agreement of the other party contained in Section 4(d) of this Agreement, provided that it shall not be a breach of this representation where reliance
is placed on clause (ii) above and the other party does not deliver a form or document under Section 4(a)(iii) of this Agreement by reason of material prejudice to its legal or commercial position. 
  

	(b)	Payee Tax Representations. For the purpose of Section 3(f) of this Agreement: 

  

	 	(i)	Party A makes the following representation: 

  

	 	(A)	With respect to payments made to Party A which are not effectively connected to the U.S.: It is a non-U.S. branch of a foreign person for U.S. federal income tax purposes

  

	 	(B)	With respect to payments made to Party A which are effectively connected to the U.S.: Each payment received or to be received by it in connection with this Agreement will be
effectively connected with its conduct of a trade or business in the U.S. 

  

	 	(C)	Party A makes no other Payee Tax Representations. 

  

	 	(ii)	Party B makes the following representations: 

  

	 	(A)	It is a statutory trust organized or formed under the laws of the State of Delaware. 

  

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	 	(B)	Party B makes no other Payee Tax Representations. 

  

	 	(c)	Tax Forms. 

  

	 	(i)	Delivery of Tax Forms. For the purpose of Section 4(a)(i) of this Agreement, and without limiting Section 4(a)(iii) of this Agreement, Party B agrees to duly
complete, execute and deliver to Party A the tax forms specified below (A) with respect to it before the first Payment Date under this Agreement, (B) promptly upon reasonable demand by the other party and (C) promptly upon learning
that any such form previously provided by the party has become obsolete or incorrect. 

 In addition, in the case of any tax
form that is a Periodic Tax Form required to be delivered by Party B under this Agreement, Party B agrees to renew such tax form prior to its expiration by completing, executing and delivering to Party A that tax form (“Renewal Tax
Form”) in each succeeding third year following the year of execution of any such tax form or Renewal Tax Form delivered by Party B to Party A under this Agreement so that Party A receives each Renewal Tax Form not later than
December 31 of the relevant year. “Periodic Tax Form” means any IRS Form W-8BEN, W-8IMY or W-8EXP that is delivered by Party B to Party A without a U.S. Taxpayer Identification Number. 
  

	 	(ii)	Tax Forms to be Delivered by Party A: 

 A correct,
complete and duly executed Form W-8ECI and/or W-8BEN. 
  

	 	(iii)	Tax forms to be Delivered by Party B: 

 Party B will
deliver a correct, complete and duly executed U.S. Internal Revenue Service Form W-9 (or successor thereto) that eliminates U.S. federal back-up withholding tax on payments to Party B under this Agreement. 
  

	Part 3.	Documents 

  

	(a)	Delivery of Documents. When it delivers this Agreement, each party shall also deliver its Closing Documents to the other party and the Insurer in form and substance
reasonably satisfactory to the other party and the Insurer. Except for the opinions of each party’s counsel, the representation set forth in Section 3(d) shall apply to each party’s Closing Documents. For each Transaction, a party
shall deliver, promptly upon request, a duly executed incumbency certificate for the person(s) executing the Confirmation for that Transaction on behalf of that party. 

  

	(b)	Closing Documents. 

  

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	 	(i)	For Party A, “Closing Documents” means: 

  

	 	(A)	an opinion of Party A’s counsel addressed to Party B and the Insurer in form and substance reasonably acceptable to Party B and the Insurer; and 

  

	 	(B)	a duly executed incumbency certificate for each person executing this Agreement for Party A, or in lieu thereof, a copy of the relevant pages of its official signature book.

  

	 	(ii)	For Party B, “Closing Documents” means: 

  

	 	(A)	an opinion of (i) Party B’s counsel addressed to Party A and the Insurer in form and substance reasonably acceptable to Party A and the Insurer and (ii) internal
counsel to the Insurer addressed to Party A and Party B in form and substance reasonably acceptable to Party A and Party B; 

  

	 	(B)	a duly executed copy of the Amended and Restated Trust Agreement for Party B; 

  

	 	(C)	a duly executed certificate of the secretary or assistant secretary of the Owner Trustee of Party B certifying the name and true signature of each person authorized to execute this
Agreement and enter into Transactions for Party B; 

  

	 	(D)	a duly executed copy of the Indenture; and 

  

	 	(E)	the duly executed Swap Policy. 

  

	Part 4.	Miscellaneous 

  

	(a)	Addresses for Notices. For purposes of Section 12(a) of this Agreement, unless otherwise specified in the relevant Confirmation, all notices to a party shall, with
respect to any particular Transaction, be sent to its address or facsimile number specified below. 

 To Party A:

 Barclays Bank PLC 
 5 The
North Colonnade 
 Canary Wharf 
 London E14 4BB 
 Telephone No.: 44(20) 777 36810 
 Facsimile No.: 44(20) 777 36461 
 With a copy to: 
 Ambac Assurance Corporation 
 One State Street
Plaza 

  

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New York, New York 10004 
 Attention: Structured
Finance Department—ABS 
 Telecopy No.: (212) 208-3547 
 With a copy to the attention of: 
 Michael Babick, Vice President 
 Telephone: (212) 363-459 
 Confirmation: (212)
208-3407 
 To Party B: 
 Capital One Auto Finance Trust 2007-A 
 c/o Wilmington Trust Company, as Owner Trustee 
 Rodney Square North 
 1100 North Market Street

 Wilmington, DE 19890-0001 
 Attention: Jeanne Oller 
 Telephone: (302) 636-6188 
 Facsimile: (302) 636-4140 
 With copies to: 
 Capital One Auto Finance, Inc. 
 1680 Capital
One Drive 
 McLean, Virginia 22102 
 Attention: Director of Securitization 
 Telephone: (703) 720-1000 
 Facsimile: (703) 720-2121 
 Ambac Assurance
Corporation 
 One State Street Plaza 
 New York, New York 10004 
 Attention: Structured Finance Department—ABS 
 Telecopy No.: (212) 208-3547 
 With a copy to
the attention of: 
 Michael Babick, Vice President 
 Telephone: (212) 363-459 
 Confirmation: (212) 208-3407 
 Process Agent. Not applicable. 
  

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	(b)	Offices. Section 10(a) applies. 

  

	(c)	Multibranch Party. Party A is a Multibranch Party and may act through its London and New York Offices. Party B is not a Multibranch Party. 

  

	(d)	“Calculation Agent” means Party A. 

  

	(e)	Credit Support Document. Details of any Credit Support Document: 

  

	 	(i)	For Party A, initially, not applicable; provided, however, that in the case of the reduction of Party A’s rating pursuant to Part 6(s) or (t) of this
Schedule, the 1994 ISDA Credit Support Annex (New York Law) and paragraph 13 thereto if Party A is required or elects to post collateral to Party B or other credit support document, if any, contemplated by Part 6(s) or (t) of this Schedule.

  

	 	(ii)	For Party B, the following is a Credit Support Document: the Swap Policy and the Indenture. 

  

	(f)	Credit Support Provider. 

  

	 	(i)	For Party A, Credit Support Provider means: Initially, not applicable; provided, however, that in the case of the reduction of Party A’s rating pursuant to Part
6(s) or (t) of this Schedule, the Credit Support Provider that is party to the Credit Support Document, if any, contemplated by Part 6(s) or (t) of this Schedule. 

  

	 	(ii)	For Party B, Credit Support Provider means: the Insurer. 

  

	(g)	Governing Law. This Agreement will be governed by and construed in accordance with the laws of the State of New York (without reference to choice of laws doctrine except
Section 5-1401 and Section 5-1402 of the New York General Obligation Law). 

  

	(h)	Waiver of Jury Trial. To the extent permitted by applicable law, each party irrevocably waives any and all right to trial by jury in any legal proceeding in connection with
this Agreement, any Credit Support Document to which it is a party, or any Transaction. Each party also acknowledges that this waiver is a material inducement to the other party’s entering into this Agreement and each Transaction hereunder.

  

	(i)	Netting of Payments. Section 2(c)(ii) of this Agreement will apply. 

  

	(j)	“Affiliate” has its meaning as defined in Section 14 of this Agreement. The Insurer shall not be considered an Affiliate of Party B. 

 

	Part 5.	Other Provisions 

  

	(a)	ISDA Publications. 

  

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	 	(i)	2000 ISDA Definitions. This Agreement and each Transaction are subject to the 2000 ISDA Definitions (including its Annex) published by the International Swaps and Derivatives
Association, Inc. (together, the “2000 ISDA Definitions”) and will be governed by the provisions of the 2000 ISDA Definitions without regard to any further amendment to the 2000 ISDA Definitions subsequent to the date hereof.
The provisions of the 2000 ISDA Definitions are incorporated by reference in, and shall form part of, this Agreement and each Confirmation. Any reference to a “Swap Transaction” in the 2000 ISDA Definitions is deemed to be a
reference to a “Transaction” for purposes of this Agreement or any Confirmation, and any reference to a Transaction in this Agreement or any Confirmation is deemed to be a reference to a Swap Transaction for purposes of the 2000 ISDA
Definitions. The provisions of this Agreement (exclusive of the 2000 ISDA Definitions) shall prevail in the event of any conflict between such provisions and the 2000 ISDA Definitions. 

  

	(b)	Additional Representations. Section 3 is amended by adding the following Sections 3(g), (h), (i), (j) and (k): 

  

	 	“(g)	No Agency. It is entering into this Agreement, any Credit Support Document to which it is a party, each Transaction, and any other documentation relating to this Agreement or
any Transaction, as principal (and not as agent or in any other capacity, fiduciary or otherwise). 

  

	 	(h)	Non-Reliance. It is acting for its own account, and it has made its own independent decisions to enter into the Agreement and that Transaction and as to whether the Agreement
and that Transaction is appropriate or proper for it based upon its own judgment and upon advice from such advisers as it has deemed necessary. It is not relying on any communication (written or oral) of the other party as investment advice or as a
recommendation to enter into the Agreement and that Transaction; it being understood that information and explanations related to the terms and conditions of the Agreement and a Transaction shall not be considered investment advice or a
recommendation to enter into the Agreement and that Transaction. No communication (written or oral) received from the other party shall be deemed to be an assurance or guarantee as to the expected results of the Agreement and that Transaction.

  

	 	(i)	Assessment and Understanding. It is capable of assessing the merits of and understanding (on its own behalf or through independent professional advice), and understands and
accepts, the terms, conditions and risks of that Transaction. It is also capable of assuming, and assumes, the risks of that Transaction. 

  

	 	(j)	Status. The other party is not acting as a fiduciary for or an adviser to it in respect of that Transaction. 

  

	 	(k)	Eligibility. It is an “eligible contract participant” within the meaning of Section 1(a)(12) of the Commodity Exchange Act (as amended, including as amended by
the Commodity Futures Modernization Act of 2000).” 

  

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	(c)	Confirmation Procedures. Each party acknowledges and agrees that the two Confirmations executed as of the date hereof and designated as Party A Reference Nos. 1598273B and
1598281B shall be the only Transactions governed by this Agreement (it being understood that, in the event such Confirmations]shall be amended (in any respect), such amendment shall not constitute (for purposes of this paragraph) a separate
Transaction or a separate Confirmation). Party A and Party B shall not enter into any additional Confirmations or Transactions hereunder. 

  

	Part 6.	Additional Terms Relating to the Indenture 

  

	(a)	Permitted Transfers. Notwithstanding Section 6(b)(ii) or Section 7 of this Agreement, no Transaction may be assigned by Party A or Party B unless such party, as
assignor, satisfies the Rating Agency Condition and Party A or Party B, as appropriate, as assignor, obtains the prior written consent of the Insurer (such consent not to be unreasonably withheld). 

  

	(b)	Permitted Security Interest. For purposes of Section 7 of this Agreement, Party A hereby consents to the Permitted Security Interest, subject to the provisions of
paragraph (c) below. 

 “Permitted Security Interest” means the pledge and assignment by Party B of
the Swap Collateral to the Indenture Trustee pursuant to the Indenture, and the granting to the Indenture Trustee of a security interest in the Swap Collateral pursuant to the Indenture. 
 “Swap Collateral” means all right, title and interest of Party B in this Agreement, each Transaction hereunder, and all present
and future amounts payable by Party A to Party B under or in connection with this Agreement or any Transaction governed by this Agreement, including, without limitation, any transfer or termination of any such Transaction. 
 “Indenture Trustee” means The Bank of New York, or any successor, acting as Indenture Trustee pursuant to the Indenture.

  

	(c)	Effect of Permitted Security Interest. 

  

	 	(i)	Notwithstanding the Permitted Security Interest, Party B shall not be released from any of its obligations under this Agreement or any Transaction, and Party A may exercise its
rights and remedies under this Agreement without notice to, or the consent of, the Indenture Trustee or any Noteholder, except as otherwise expressly provided in this Agreement (including any rights expressly granted to the Insurer.

  

	 	(ii)	Party A’s consent to the Permitted Security Interest is expressly limited to the Indenture Trustee for the benefit of the secured parties under the Indenture, and Party A does
not consent to the sale or transfer by the Indenture Trustee of the Swap Collateral to any other person or entity (other than a successor to the Indenture Trustee under the Indenture acting in that capacity), and the manner in which the Indenture
Trustee may realize upon the Swap Collateral shall be (subject to the Insurer’s rights under this Agreement and the Indenture) to declare an Additional Termination Event and designate an Early Termination Date by notice given to Party A
pursuant to the Additional Termination Event provisions of this Schedule. 

  

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	 	(iii)	Party B hereby acknowledges that, as a result of the Permitted Security Interest, all of its rights under this Agreement, including any Transaction, have (subject to the
Insurer’s rights hereunder) been assigned to the Indenture Trustee pursuant to the Indenture and notwithstanding any other provision in this Agreement, Party B may not take any action hereunder to exercise any of such rights without the prior
written consent of the Insurer, including, without limitation, providing any notice under this Agreement the effect of which would be to cause an Early Termination Date to occur or be deemed to occur. If Party B gives any notice to Party A for the
purposes of exercising any of Party B’s rights under this Agreement, Party A shall have the option of treating that notice as void unless that notice is signed by the Insurer acknowledging its consent to the provisions of that notice. Nothing
herein shall be construed as requiring the consent of the Indenture Trustee, the Insurer or any Noteholder for the performance by Party B of any of its obligations hereunder. 

  

	 	(iv)	Except as expressly provided in this Agreement for any Permitted Transfer, Event of Default, Termination Event or Additional Termination Event, Party A and Party B may not enter
into any agreement to dispose of any Transaction, whether in the form of a termination, unwind, transfer or otherwise without the prior written consent of the Indenture Trustee and the Insurer (which consent shall not be unreasonably withheld).

  

	 	(v)	Except as expressly provided in this Agreement, no amendment, modification, or waiver in respect of this Agreement will be effective unless (A) evidenced by a writing executed
by each party hereto, and (B) each of the Indenture Trustee and the Insurer has acknowledged its consent thereto in writing (which consent shall not be unreasonably withheld) and each Rating Agency confirms that the amendment, modification or
waiver will not cause the reduction or withdrawal of its then current rating on any Notes under the Indenture (without regard to the presence of the Note Policy). 

  

	(d)	Payments. All payments to Party B under this Agreement or any Transaction shall be made to the Indenture Trustee. 

  

	(e)	Set-off. Party A and Party B hereby waive any and all right of set-off with respect to any amounts due under this Agreement or any Transaction, provided that nothing
herein shall be construed to waive or otherwise limit the netting provisions contained in Sections 2(c) and 6(e) of this Agreement. 

  

	(f)	Indenture. 

  

	 	(i)	Party B hereby acknowledges that Party A is a secured party under the Indenture with respect to this Agreement, and Party B agrees for the benefit of Party A that no Transaction
Document will be amended by Party B or any Affiliate of Party B 

	 	without the prior consent of Party A to the extent that such consent is required under such Transaction Document. 

  

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	 	(ii)	On the date Party B executes and delivers this Agreement and the Transaction, Party B hereby represents and warrants to Party A: that the Indenture is in full force and effect; that
Party B is not party to any separate agreement with any of the parties to the Indenture (or with any other person or entity) that would have the effect of diminishing or impairing the rights, interests or benefits that have been granted to Party A
under, and which are expressly set forth in, the Indenture; that Party B’s obligations under this Agreement are secured under the Indenture; that this Agreement constitutes an Interest Rate Swap Agreement under the Indenture; that each
Transaction entered into under this Agreement is an Interest Rate Swap Agreement under the Indenture; that Party A constitutes a Swap Counterparty under the Indenture; that nothing herein violates or conflicts with any of the provisions of the
Indenture or any other documents executed in connection therewith. 

  

	(g)	Consent to Notice & Communications. Party B hereby consents to the giving to the Indenture Trustee and the Insurer of notice by Party A of Party A’s address and
telecopy and telephone numbers for all purposes of the Indenture, and in addition, Party A shall also be entitled at any time to provide the Indenture Trustee and the Insurer with copies of this Agreement, including all Confirmations. In addition,
Party A shall not be precluded from communicating with the Indenture Trustee, the Insurer or any party to, or any third party beneficiary under, the Indenture or the Sale and Servicing Agreement for the purpose of exercising, enforcing or protecting
any of Party A’s rights or remedies under this Agreement or any rights, interests or benefits granted to Party A under the Indenture, the Sale and Servicing Agreement or the Swap Policy. 

  

	(h)	No Bankruptcy Petition. Party A agrees that, prior to the date which is at least one year and one day after the Notes have been paid in full, it will not institute against,
or join any other person or entity in instituting against or cause any party to institute against, Party B any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings, or other proceedings under federal or state
bankruptcy or similar laws, provided that nothing herein shall preclude, or be deemed to estop, Party A from taking any action in any case or proceeding voluntarily filed or commenced by or on behalf of Party B or in any involuntary case or
proceeding after it has commenced. This Part 6(h) shall survive termination of this Agreement. 

  

	(i)	Limitation of Liability. Notwithstanding anything contained herein to the contrary, in executing this Agreement (including the Schedule, Credit Support Annex, if applicable,
and each Confirmation) on behalf of Party B, Wilmington Trust Company (the “Owner Trustee”) is acting solely in its capacity as owner trustee of Party B and not in its individual capacity, and in no event shall Wilmington
Trust Company, in its individual capacity, have any liability for the representations, warranties, covenants, agreements or other obligations of Party B hereunder, for which recourse shall be had solely to the assets of Party B.

  

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	(j)	Party A’s Rights Solely Against Collateral. The liability of Party B to Party A hereunder is limited in recourse to the Collateral and the other assets and to the extent
that the proceeds of the Collateral and other assets, when applied in accordance with the priority of payments set forth in Section 5.4(b) of the Indenture and the other applicable provisions of the Indenture or Section 4.4 of the Sale and
Servicing Agreement, as applicable, are insufficient to meet the obligations of Party B hereunder in full, Party B shall have no further liability in respect of any such outstanding obligations. It is understood that the foregoing provisions shall
not (i) prevent recourse to the Collateral and the other assets for the sums due or to become due under any security, instrument or agreement which is part of the Collateral and the other assets (subject to the priority of payments set forth in
the Indenture) or (ii) constitute a waiver, release or discharge of any obligation of Party B arising under this Agreement until the Collateral and the other assets have been realized and the proceeds applied in accordance with the Indenture.

  

	(k)	Third-party Beneficiary. Each of Party A and Party B hereby acknowledges and agrees that the Insurer shall be an express third-party beneficiary (and not merely an incidental
third-party beneficiary) of this Agreement and the obligations of such party under any Transaction, and as such, entitled to enforce the provisions hereof and otherwise shall be afforded all remedies available hereunder or by law against the parties
hereto to redress any damage or loss incurred by the Insurer including, but not limited to, reasonable fees (including reasonable attorneys fees), costs and expenses incurred by the Insurer which are related to, or resulting from a breach by such
party of its obligations hereunder. 

  

	(l)	Policy Coverage. Each of Party A and Party B acknowledges and agrees that the Insurer’s obligations with respect to the Transactions shall be limited to the terms of the
Swap Policy. Notwithstanding Section 2(e) or any other provision of this Agreement, the Insurer shall not have any obligation to pay interest on any amount payable by Party B under this Agreement. 

  

	(m)	Subrogation. Each of Party A and Party B hereby acknowledges that, to the extent of payments made by the Insurer to Party A under the Swap Policy, the Insurer shall be fully
subrogated to the rights of Party A against Party B under the Transaction to which such payments relate, including, but not limited to, the right to receive payment from Party B and the enforcement of any remedies against Party B. Party A hereby
agrees to assign to the Insurer its right to receive payment from Party B under any Transaction to the extent of any payment thereunder by the Insurer to Party A. Party B hereby acknowledges and consents to the assignment by Party A to the Insurer
of any rights and remedies that Party A has under any Transaction or any other document executed in connection herewith. 

  

	(n)	No Suspension of Payments. Notwithstanding Section 2(a)(iii) of this Agreement or Paragraph 4(a) of the Credit Support Annex, if applicable, Party A shall not suspend
any payments due under a Transaction or the transfer of Eligible Credit Support under the Credit Support Annex, if applicable, unless the Insurer is in default in respect of any payment obligation under the Swap Policy. 

  

 -13- 

	(o)	Representations and Agreements. Each party agrees that each of its representations and agreements in this Agreement is expressly made to and for the benefit of each other and
the Insurer. 

  

	(p)	Expenses. Party B agrees to reimburse the Insurer immediately and unconditionally upon demand for all reasonable expenses incurred by the Insurer in connection with the
issuance of the Swap Policy and the enforcement by the Insurer of Party B’s obligations under this Agreement and any other documents executed in connection with the execution and delivery of this Agreement, including, but not limited to, fees
(including professional fees), costs and expenses incurred by the Insurer which are related to or resulting from any breach by Party B of its obligations hereunder. 

  

	(q)	Amendments/Waivers. Section 9(b) of the Agreement is hereby amended by (A) adding the words “or any Credit Support Document” after the word
“Agreement” in the second line thereof and (B) adding the phrase “and the Insurer” following the word “parties” in the third line thereof. 

  

	(r)	Notices. A copy of each notice or other communication between the parties with respect to this Agreement must be sent at the same time to the Insurer.

  

	(s)	 Downgrade Event. In the event (i) S&P assigns (x) a long-term senior unsecured debt rating lower than “A” to Party A (or lower than
“A+”, if Party A does not have a short-term debt rating), or (y) a short-term senior unsecured debt rating lower than “A-1” to Party A, (ii) Moody’s assigns (x) a long-term senior unsecured debt rating lower
than “A2” to Party A (or lower than “A1”, if Party A does not have a short-term debt rating) or (y) a short-term senior unsecured debt rating lower than “Prime 1” to Party A, (iii) Fitch assigns (x) a
long-term senior unsecured debt rating lower than “A” to Party A, or (y) a short-term senior unsecured debt rating lower than “F1” to Party A, or (iv) either S&P, Moody’s or Fitch ceases to assign a short-term
rating to Party A (each such event, a “Party A Rating Downgrade”), Party A shall promptly, but in no event later than two (2) Local Business Days following the date of such Party A Rating Downgrade, give Party B, the Insurer and the
Indenture Trustee written notice of the occurrence of such Party A Rating Downgrade (provided, however, that the failure to give such notice shall not be an Event of Default or a Termination Event under this Agreement) and use reasonable efforts to
find a replacement counterparty that satisfies the Rating Agency Condition. Party A shall continue to perform its obligations and use reasonable efforts to find a replacement counterparty until a suitable substitute is in place. Not later than
thirty (30) Local Business Days after such Party A Rating Downgrade, if Party A has not transferred its obligations to a replacement counterparty in accordance with the foregoing provisions, Party A shall either (i) obtain (at Party
A’s expense) an unconditional guarantee or other similar assurance in respect of Party A’s obligations under this Agreement from a guarantor where both the guarantee and guarantor satisfy the Rating Agency Condition and are acceptable to
Party B, the Insurer and the Indenture Trustee; or (ii) delivers a 1994 ISDA Credit Support Annex providing for transfer of Eligible Collateral in an amount, of the type and under terms which shall be acceptable to the Insurer and as are
necessary to satisfy the Rating Agency Condition. In the event Party A complies with the requirements 

  

 -14- 

	 	 
set forth in the preceding sentence and the Party A Rating Downgrade relates only to an action taken by S&P, Party A shall not be required to find a
replacement counterparty until the time at which S&P assigns a long-term senior unsecured debt rating lower than “BBB-” to Party A, at which time Party A must immediately find a replacement counterparty that satisfies the Rating Agency
Condition. The cost of finding and putting into place a replacement counterparty shall be borne by Party A. For the avoidance of doubt, both parties agree that Party A shall only be required to post collateral pursuant to the terms of a Credit
Support Annex for the period (the “Collateral Requirement Period”) commencing at the times specified above until a replacement is in place. Once the Collateral Requirement Period has ended, Party B shall return any such Eligible Collateral
to Party A promptly and to the extent such Eligible Collateral has not already been applied in accordance with this Agreement or such Credit Support Annex. 

 In the event of an Early Termination Date in respect of a Party A Rating Downgrade pursuant to Part 1(k)(i)(A) and the entering into by Party B of
alternative swap arrangements, Party A shall pay all reasonable out-of-pocket expenses, including legal fees and stamp taxes, relating to the entering into of such alternative swap arrangements. 
  

	(t)	Moody’s Creditwatch Event. In the event Moody’s assigns (x) a long-term senior unsecured debt rating at or below “A2 On Watch for Downgrade” to Party
A (or at or below “A1 on watch for Downgrade,” if Party A does not have a short-term debt rating), or (y) a short-term senior unsecured debt rating at or below “P-1 On Watch for Downgrade” to Party A (either such event, a
“Party A Creditwatch Event”), Party A shall promptly, but in no event later than two (2) Local Business Days following the date of such Party A Creditwatch Event, give Party B, the Insurer and the Indenture Trustee written notice of
the occurrence of such Party A Creditwatch Event (provided, however, that the failure to give such notice shall not be an Event of Default or a Termination Event under this Agreement). In addition, Party A shall promptly, but not later than thirty
(30) Local Business Days after the occurrence of such Party A Creditwatch Event, either (i) obtain (at Party A’s expense) an unconditional guarantee or other similar assurance in respect of Party A’s obligations under this
Agreement from a guarantor where both the guarantee and guarantor satisfy the Rating Agency Condition and are acceptable to Party B, the Insurer and the Indenture Trustee; or (ii) delivers a 1994 ISDA Credit Support Annex providing for transfer
of Eligible Collateral in an amount, of the type and under terms which shall be acceptable to the Insurer and as are necessary to satisfy the Rating Agency Condition. Once a Party A Creditwatch Event ceases to exist, Party B shall return any such
Eligible Collateral to Party A as soon as reasonably practicable and to the extent such Eligible Collateral has not already been applied in accordance with this Agreement or such Credit Support Annex. 

 In the event of an Early Termination Date in respect of a Party A Creditwatch Event pursuant to Part 1(k)(i)(A) and the entering into by Party B of
alternative swap arrangements, Party A shall pay all reasonable out-of-pocket expenses, including legal fees and stamp taxes, relating to the entering into of such alternative swap arrangements. 
  

 -15- 

	(u)	Consent to Recording. Each party consents to the monitoring or recording, at any time and from time to time, by the other party of any and all communications between
marketing and trading personnel of the parties, waives any further notice of such monitoring or recording and agrees promptly to provide the other party a copy of such recordings upon request. 

  

	(v)	[Reserved]. 

  

	(w)	Reference Market-makers. The definition of “Reference Market-makers” set forth in Section 14 of the Agreement shall be amended in its entirety to read as
follows: “Reference Market-makers” means four (4) leading dealers in the relevant swap market selected by the party determining a Market Quotation in good faith (a) from among dealers of the highest credit standing which
satisfy all the criteria that such party applies generally at the time in deciding whether to offer or to make an extension of credit and (b) to the extent practicable, from among dealers having an office in the same city. The rating
classification assigned to any outstanding long term senior debt securities issued by such dealers shall be at least (1) “Aa3” or higher as determined by Moody’s (2) “AA-” or higher as determined by S&P or
(3) an equivalent investment grade rating determined by a nationally recognized rating service acceptable to both parties, provided, however, that, in any case, if Market Quotations cannot be determined by four (4) such dealers, the
party making the determination of the Market Quotation may designate, with the consent of the other party and the Insurer, one (1) or more leading dealers whose long term senior debt bears a lower investment grade rating.

  

	(x)	USA PATRIOT Act Notice. Party A hereby notifies Party B that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law
October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that identifies Party B, which information includes the name and address of Party B and other information that will allow Party A to identify
Party B in accordance with the Act. 

  

	(y)	Compliance with Regulation AB. 

  

	 	(i)	Party A has been advised by Party B that Capital One Auto Receivables, LLC (the “Seller”) and Party B are required under Regulation AB under the Securities Act of 1933 and
the Securities Exchange Act of 1934, as amended (“Regulation AB”), to disclose certain information regarding Party A. Such information may include financial information to the extent required under Item 1115 of Regulation AB.

  

	 	(ii)	 If required, upon written request, Party A shall provide to Party B or the Seller the applicable financial information described under Item 1115(b) of
Regulation AB (the “Reg AB Financial Information”) within ten (10) Business Days of receipt of a written request for such Reg AB Financial Information by the Seller or Party B (the “Response Period”), so long as the Seller
or Party B has reasonably determined, in good faith, that such information is required under Regulation AB. In the event that Party A does not provide any such Reg AB Financial Information by the end of the related Response Period, Party A shall
promptly, but in no event later than ten (10) Local Business Days following the end of such Response Period, find a replacement counterparty that (A) has the ability to provide its applicable Reg AB Financial Information,
(B) satisfies 

  

 -16- 

	 	 
the Rating Agency Condition, (C) is acceptable to Party B and the Insurer and (D) enters into an agreement with Party B substantially in the form
of this Agreement (such replacement counterparty, a “Reg AB Approved Entity”). Party A shall continue to perform its obligations and use reasonable efforts to find a Reg AB Approved Entity until a suitable substitute is in place. The cost
of finding and transferring its rights and obligations to a Reg AB Approved Entity shall be borne by Party A. 

 The failure
of Party A to comply with its obligation to find a replacement counterparty as described in the preceding paragraph will result in an Additional Termination Event under Part 1(k)(i)(A) of this Agreement. In the event of an Early Termination Date in
respect of the foregoing Additional Termination Event and the entering into by Party B of alternative swap arrangements, Party A shall pay all reasonable out-of-pocket expenses, including legal fees and stamp taxes, relating to the entering into of
such alternative swap arrangements. 
  

	 	(iii)	If Party B or the Seller request (in writing) the Reg AB Financial Information from Party A, then the Seller or Party B will promptly (and in any event within one (1) Business
Day of the date of the request for the Reg AB Financial Information) provide Party A with a written explanation of how the significance percentage was calculated. 

  

	 	(iv)	Party A represents and warrants that the statements appearing in the Preliminary Prospectus Supplement, dated February 5, 2007, or in the Prospectus Supplement, dated February
[    ], 2007, each relating to Capital One Auto Finance Trust 2007-A under the headings “Summary of Terms – The Parties – Swap Counterparty” and “The Swap Counterparty” (the “Prospectus
Information”) are true and correct in all material respects and do not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading.

  

	 	(v)	(A) Party A shall indemnify and hold harmless Party B, the Seller, their respective directors or officers and any person controlling Party B or the Seller, from and against any and
all losses, claims, damages and liabilities caused by any untrue statement or alleged untrue statement of a material fact contained in the Prospectus Information or in any Reg AB Financial Information that Party A provides to Party B or the Seller
pursuant to this Part 6(y) (the “Party A Information”) or caused by any omission or alleged omission to state in the Party A Information a material fact required to be stated therein or necessary to make the statements therein not
misleading. 

 (B) COAF shall indemnify and hold harmless Party A, its respective directors or officers and any person
controlling Party A, from and against any and all losses, claims, damages and liabilities caused by any untrue statement or alleged untrue statement of a material fact contained in the Preliminary Prospectus Supplement referred to in clause
(iv) above 

  

 -17- 

 
(together with the accompanying base Prospectus), the Prospectus Supplement referred to in clause (iv) above (together with the accompanying base
Prospectus) (collectively, the “Prospectus Disclosure”) or caused by any omission or alleged omission to state in the Prospectus Disclosure a material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading; provided, however, that COAF shall not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon any
such untrue statement or alleged untrue statement in or omission or alleged omission made in any such Prospectus Disclosure in the Party A Information. 
  

	 	(vi)	 Promptly after the indemnified party under Part 6(y)(v) receives notice of the commencement of any such action, the indemnified party will, if a claim in respect
thereof is to be made pursuant to Part 6(y)(v), promptly notify the indemnifying party in writing of the commencement thereof. In case any such action is brought against the indemnified party, and it notifies the indemnifying party of the
commencement thereof, the indemnifying party shall be entitled to appoint counsel of the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party in any action for which indemnification is sought
(in which case the indemnifying party shall not thereafter be responsible for the fees and expenses of any separate counsel retained by the indemnified party except as set forth below); provided, however, that such counsel shall be reasonably
satisfactory to the indemnified party. Notwithstanding the indemnifying party’s election to appoint counsel to represent the indemnified party in an action, the indemnified party shall have the right to employ separate counsel (including local
counsel), and the indemnifying party shall bear the reasonable fees, costs and expenses of such separate counsel if (i) such indemnified party shall have been advised by such counsel that there may be one or more legal defenses available to it
which are different from or additional to those available to the indemnifying party and in the reasonable judgment of such counsel it is advisable for such indemnified party to employ separate counsel, (ii) a conflict or potential conflict
exists (based on advice of counsel to the indemnified party) between the indemnified party and the indemnifying party, (iii) the indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party to represent
the indemnified party within a reasonable time after notice of the institution of such action or (iv) the indemnifying party shall authorize the indemnified party to employ separate counsel at the expense of the indemnifying party. The
indemnifying party will not, without the prior written consent of the indemnified party, settle or compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which
indemnification or contribution may be sought hereunder (whether or not the indemnified party is an actual or potential party to such claim or action) unless such settlement, compromise or consent includes an unconditional release of each
indemnified party from all liability arising out of such claim, action, suit or proceeding. No indemnified party will 

  

 -18- 

	 	 
settle or compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which
indemnification or contribution may be sought hereunder without the consent of the indemnifying party, which consent shall not be unreasonably withheld. 

  

	(z)	Transfer or Restructuring to Avoid Termination Event. Section 6(b)(ii) of the Agreement shall be amended in its entirety to read as follows: If either an Illegality
under Section 5(b)(i)(l) or a Tax Event occurs and there is only one Affected Party, or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party, the Affected Party will, as a condition to its right to designate an Early
Termination Date under Section 6(b)(iv), within 20 days after it gives notice under Section 6(b)(i), use all reasonable efforts (which will not require such party to incur a loss, excluding immaterial, incidental expenses) to
(A) transfer within 20 days after it gives notice under Section 6(b)(i) all its rights and obligations under this Agreement in respect of the Affected Transactions to another of its Offices or Affiliates so that such Termination Event
ceases to exist or (B) replace the Affected Transaction(s) with one or more economically equivalent transactions so that such Termination Event ceases to exist. 

 If the Affected Party is not able to cause such a transfer or restructuring it will give notice to the other party to that effect within such 20 day
period, whereupon the other party may effect such a transfer or cause such a restructuring within 30 days after the notice is given under Section 6(b)(i). 
 Any such transfer by a party under this Section 6(b)(ii) will be subject to and conditional upon the prior written consent of the other party, which consent will not be withheld if such other party’s
policies in effect at such time would permit it to enter into transactions with the transferee on the terms proposed. Any restructuring by a party under this Section 6(b)(ii) will be subject to and conditional upon the satisfaction of the
Rating Agency Condition and the prior written consent of the other party and the Insurer, which consent shall not unreasonably be withheld. 
  

 -19- 

 IN WITNESS WHEREOF, the parties have executed this Schedule by their duly authorized signatories as of
the date hereof. 
  

			
	BARCLAYS BANK PLC
		
	By:	 	 /s/ Jay Kim

	Name:	 	Jay Kim
	Title:	 	Managing Director

  

			
	CAPITAL ONE AUTO FINANCE TRUST 2007-A
		
	By:	 	WILMINGTON TRUST COMPANY, not in its individual capacity but solely in its capacity as Owner Trustee
		
	By:	 	 /s/ J. Christopher Murphy

	Name:	 	J. Christopher Murphy
	Title:	 	Financial Services Officer

  

					
		  	S-1	  	Swap Schedule (COAFT 2007-A)

 Capital One Auto Finance, Inc. joins in this Schedule solely for purposes of Part 6(y)(v) and (vi).

  

			
	CAPITAL ONE AUTO FINANCE, INC.
		
	By:	 	 /s/ Richard Johns

	Name:	 	Richard Johns
	Title:	 	Assistant Vice President

  

					
		  	S-2	  	Swap Schedule (COAFT 2007-A)

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