Document:

EX-10.5

 Exhibit 10.5 
  

 
  

ASSET REPRESENTATIONS REVIEW AGREEMENT 

SANTANDER DRIVE AUTO RECEIVABLES TRUST 2019-1, 

as Issuer 
 and 

SANTANDER CONSUMER USA INC., 
 as
Sponsor and Servicer 
 and 

CLAYTON FIXED INCOME SERVICES LLC, 

as Asset Representations Reviewer 
  

 
 Dated as of
February 20, 2019 
  
  

 
  

 

 TABLE OF CONTENTS 

Page 
  

							
	 ARTICLE I.       DEFINITIONS
	  	 	1	 
			
	 Section 1.01
	 	Definitions	  	 	1	 
		
	 ARTICLE II.     ENGAGEMENT; ACCEPTANCE
	  	 	3	 
			
	 Section 2.01
	 	Engagement; Acceptance	  	 	3	 
			
	 Section 2.02
	 	Eligibility of Asset Representations Reviewer	  	 	3	 
			
	 Section 2.03
	 	Independence of the Asset Representations Reviewer	  	 	3	 
		
	 ARTICLE III.   DUTIES OF THE ASSET REPRESENTATIONS REVIEWER
	  	 	3	 
			
	 Section 3.01
	 	Review Scope	  	 	3	 
			
	 Section 3.02
	 	Review Notices	  	 	4	 
			
	 Section 3.03
	 	Review Materials	  	 	4	 
			
	 Section 3.04
	 	Missing or Incomplete Review Materials	  	 	4	 
			
	 Section 3.05
	 	The Asset Review	  	 	5	 
			
	 Section 3.06
	 	Review Period	  	 	5	 
			
	 Section 3.07
	 	Review Report	  	 	5	 
			
	 Section 3.08
	 	Completion of Review for Certain Subject Receivables	  	 	6	 
			
	 Section 3.09
	 	Termination of Review	  	 	6	 
			
	 Section 3.10
	 	Review and Procedure Limitations	  	 	6	 
			
	 Section 3.11
	 	Review Systems	  	 	6	 
			
	 Section 3.12
	 	Representatives	  	 	7	 
			
	 Section 3.13
	 	Dispute Resolution	  	 	7	 
			
	 Section 3.14
	 	Records Retention	  	 	7	 
			
	 Section 3.15
	 	No Delegation	  	 	7	 
		
	 ARTICLE IV.   PAYMENTS TO ASSET REPRESENTATIONS REVIEW
	  	 	8	 
			
	 Section 4.01
	 	Annual Fee	  	 	8	 
			
	 Section 4.02
	 	Review Fee	  	 	8	 
			
	 Section 4.03
	 	Dispute Resolution Expenses	  	 	8	 
			
	 Section 4.04
	 	Payment	  	 	10	 
			
	 Section 4.05
	 	Payments by the Issuer	  	 	10	 
		
	 ARTICLE V.     OTHER MATTERS PERTAINING TO THE ASSET
REPRESENTATIONS REVIEWER
	  	 	10	 

  

					
		  	-i-	  	Asset Representations Review Agreement (SDART 2019-1)

 TABLE OF CONTENTS 

(continued) 
 Page 

 

							
	 Section 5.01
	 	Representations and Warranties of the Asset Representations Reviewer	  	 	10	 
			
	 Section 5.02
	 	Limitation of Liability of Asset Representations Reviewer	  	 	11	 
			
	 Section 5.03
	 	Indemnification of Asset Representations Reviewer	  	 	11	 
			
	 Section 5.04
	 	Indemnification by Asset Representations Reviewer	  	 	12	 
		
	 ARTICLE VI.   REMOVAL, RESIGNATION; SUCCESSOR ASSET REPRESENTATION
REVIEWER
	  	 	13	 
			
	 Section 6.01
	 	Eligibility Requirements for Asset Representations Reviewer	  	 	13	 
			
	 Section 6.02
	 	Resignation and Removal of Asset Representations Reviewer	  	 	13	 
			
	 Section 6.03
	 	Successor Asset Representations Reviewer	  	 	13	 
			
	 Section 6.04
	 	Merger, Consolidation or Succession	  	 	14	 
		
	 ARTICLE VII.  TREATMENT OF CONFIDENTIAL INFORMATION
	  	 	14	 
			
	 Section 7.01
	 	Confidential Information	  	 	14	 
			
	 Section 7.02
	 	Safeguarding Personally Identifiable Information	  	 	16	 
		
	 ARTICLE VIII. OTHER MATTERS PERTAINING TO THE ISSUER
	  	 	17	 
			
	 Section 8.01
	 	Termination of this Agreement	  	 	17	 
			
	 Section 8.02
	 	Limitation of Liability	  	 	17	 
		
	 ARTICLE IX.   MISCELLANEOUS PROVISIONS
	  	 	18	 
			
	 Section 9.01
	 	Amendment	  	 	18	 
			
	 Section 9.02
	 	Notices, Etc	  	 	19	 
			
	 Section 9.03
	 	Severability Clause	  	 	19	 
			
	 Section 9.04
	 	Governing Law	  	 	20	 
			
	 Section 9.05
	 	Headings	  	 	20	 
			
	 Section 9.06
	 	Counterparts	  	 	20	 
			
	 Section 9.07
	 	Waivers	  	 	20	 
			
	 Section 9.08
	 	Entire Agreement	  	 	20	 
			
	 Section 9.09
	 	Severability of Provisions	  	 	20	 
			
	 Section 9.10
	 	Binding Effect	  	 	20	 
			
	 Section 9.11
	 	Cumulative Remedies	  	 	21	 
			
	 Section 9.12
	 	Nonpetition Covenant	  	 	21	 

  

					
		  	-ii-	  	Asset Representations Review Agreement (SDART 2019-1)

 TABLE OF CONTENTS 

(continued) 
 Page 

 

							
	 Section 9.13
	 	Submission to Jurisdiction; Waiver of Jury Trial	  	 	21	 
			
	 Section 9.14
	 	Third-Party Beneficiaries	  	 	22	 
		
	 Exhibit A – Agreed Upon Procedures
	  			

  

  

					
		  	-iii-	  	Asset Representations Review Agreement (SDART 2019-1)

 ASSET REPRESENTATIONS REVIEW AGREEMENT 

This ASSET REPRESENTATIONS REVIEW AGREEMENT is made and entered into as of February 20, 2019 (this “Agreement”), by and
between Santander Drive Auto Receivables Trust 2019-1, a Delaware statutory trust (the “Issuer”), Santander Consumer USA Inc., an Illinois corporation (“SC”, and in its
capacity as sponsor, the “Sponsor”, and in its capacity as servicer, the “Servicer”), and Clayton Fixed Income Services LLC, a Delaware limited liability company (“Clayton”, and in its capacity as
asset representations reviewer, the “Asset Representations Reviewer”). 
 WHEREAS, the Issuer will engage the Asset
Representations Reviewer to perform reviews of Receivables for compliance with the representations and warranties made by the Sponsor regarding such Receivables. 

NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 
 ARTICLE I.

 DEFINITIONS 

Section 1.01 Definitions. Except as otherwise defined herein or as the context may otherwise require, capitalized terms used but
not otherwise defined herein are defined in Appendix A to the Sale and Servicing Agreement dated as of the date hereof (as from time to time amended, supplemented or otherwise modified and in effect, the “Sale and
Servicing Agreement”) between the Issuer, the Servicer, Santander Drive Auto Receivables LLC and Wells Fargo Bank, National Association, as indenture trustee, which also contains rules as to usage that are applicable herein. 

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

“Annual ARR Fee” has the meaning set forth in Section 4.01. 

“Asset Review” means the completion by the Asset Representations Reviewer of the “Tests” set forth in Exhibit A for
each Subject Receivable as further described in Section 3.05. 
 “Client Records” has the meaning
set forth in Section 3.14. 
 “Confidential Information” has the meaning set forth in
Section 7.01. 
 “Disclosing Party” has the meaning set forth in
Section 7.01. 
 “Eligible Asset Representations Reviewer” means a Person who (i) is not,
and is not Affiliated with, the Sponsor, the Depositor, the Servicer, the Indenture Trustee, the Owner Trustee or any of their Affiliates and (ii) was not engaged or Affiliated with a Person that was

  

					
		  		  	Asset Representations Review Agreement (SDART 2019-1)

 
engaged by the Sponsor or any Underwriter to perform any due diligence on the Receivables prior to the Closing Date. 

“Eligibility Representations” shall mean those representations identified in Exhibit A. 

“Indemnified Person” has the meaning set forth in Section 5.03. 

“Personally Identifiable Information” or “PII” has the meaning set forth in
Section 7.02. 
 “Privacy Laws” has the meaning set forth in
Section 7.02. 
 “Receiving Party” has the meaning set forth in
Section 7.01. 
 “Representatives” has the meaning set forth in
Section 7.01. 
 “Review Fee” has the meaning set forth in
Section 4.02. 
 “Review Invoice” means, with respect to any Asset Review, a detailed invoice
prepared by the Asset Representations Reviewer setting forth the calculation of the applicable Review Fee for such Asset Review. 

“Review Materials” means the documents, data, and other information required for each “Test” in Exhibit A. 

“Review Period” has the meaning set forth in Section 3.06. 

“Review Report” has the meaning set forth in Section 3.07. 

“Subject Receivables” means, for any Asset Review, all Receivables which are 60-Day
Delinquent Receivables as of the related Review Satisfaction Date; provided, that any Receivable repurchased by the Sponsor or the Servicer in accordance with the Transaction Documents or paid in full by the related obligor after the Review
Satisfaction Date will no longer be a Subject Receivable. 
 “Tests” mean the procedures listed in Exhibit A as applied to
the process described in Section 3.05. 
 “Test Complete” has the meeting set forth in
Section 3.08. 
 “Test Fail” has the meaning set forth in Section 3.05.

 “Test Incomplete” has the meaning set forth in Section 3.05. 

“Test Pass” has the meaning set forth in Section 3.05. 

  

					
		  	2	  	Asset Representations Review Agreement (SDART 2019-1)

 ARTICLE II. 

ENGAGEMENT; ACCEPTANCE 

Section 2.01 Engagement; Acceptance. 

The Issuer hereby engages Clayton to act as the Asset Representations Reviewer for the Issuer. Clayton hereby accepts the engagement and agrees
to perform the obligations of the Asset Representations Reviewer on the terms stated in this Agreement. 
 Section 2.02 Eligibility
of Asset Representations Reviewer. 
 Clayton represents and warrants to the Issuer and the Sponsor that it is an Eligible Asset
Representations Reviewer. The Asset Representations Reviewer will notify the Issuer, the Sponsor and the Servicer promptly if it is not, or on the occurrence of any action that would result in it not being, an Eligible Asset Representations
Reviewer. 
 Section 2.03 Independence of the Asset Representations Reviewer. 

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

ARTICLE III. 
 DUTIES OF
THE ASSET REPRESENTATIONS REVIEWER 
 Section 3.01 Review Scope. 

The parties confirm that the Asset Representations Review is not responsible for (a) reviewing the Receivables for compliance with the
representations and warranties under the Transaction Documents, except as described in this Agreement or (b) determining whether noncompliance with the representations and warranties constitutes a breach of the Eligibility Representations. For
the avoidance of doubt, the parties confirm that the review is not designed to determine why an Obligor is delinquent or the creditworthiness of the Obligor, either at the time of any Asset Review or at the time of origination of the related
Receivable. Further, the Asset Review is not designed to establish cause, materiality or recourse for any Test Fail (as defined in Section 3.05). 

  

					
		  	3	  	Asset Representations Review Agreement (SDART 2019-1)

 Section 3.02 Review Notices. 

Upon receipt of (i) a Review Notice from the Indenture Trustee in accordance with Section 7.6(b) of the
Indenture and (ii) the Review Materials in accordance with Section 3.03 of this Agreement, the Asset Representations Reviewer will start an Asset Review. The Asset Representations Reviewer will not be obligated to
begin, and may not begin, an Asset Review until the Asset Representations Reviewer receives a Review Notice. Within ten Business Days of receipt of a Review Notice, the Servicer shall provide the list of Subject Receivables to the Asset
Representations Reviewer in the format selected by the Servicer to the address specified in Section 9.02. 
 None
of the Issuer, the Servicer, the Sponsor or the Asset Representations Reviewer is obligated to verify whether the Indenture Trustee properly determined that a Review Notice was required. None or the Issuer, the Sponsor or the Asset Representations
Reviewer is obligated to verify the accuracy or completeness of the list of Subject Receivables provided by the Servicer. 

Section 3.03 Review Materials. 

The Servicer will provide reasonable assistance to the Asset Representations Reviewer to facilitate the Asset Review. Within 60 days of receipt
by the Servicer of the Review Notice, the Servicer will provide the Asset Representations Reviewer with the Review Materials for all Subject Receivables in one or more of the following ways, as elected by the Servicer: (i) by providing access
to the Servicer’s receivables system, either remotely or at one or more of the properties of the Servicer; (ii) by electronic posting of Review Materials to a password-protected website to which the Asset Representations Reviewer has
access; (iii) by providing originals or photocopies at one or more of the properties of the Servicer where the Receivable Files are located; (iv) by sending originals or photocopies of Review Materials to the Asset Representations Reviewer
at the address specified in Section 9.02; or (v) in another manner agreed to by the Servicer and the Asset Representations Reviewer. The Servicer may redact or remove Personally Identifiable Information from the Review
Materials so long as such redaction or removal does not result in a change in the meaning or usefulness of the Review Materials. The Asset Representations Reviewer shall not be liable for any failure of the Review Materials to be accurate and
complete, including any failure that results in the Review Materials being misleading in any material respect. 
 Section 3.04
Missing or Incomplete Review Materials. 
 The Asset Representations Reviewer will complete the Tests for each Eligible Representation
only using documentation that is made available to it. Upon receipt of the Review Materials, the Asset Representations Reviewer will complete an initial document inventory to verify there are no systemic documentation errors, including but not
limited to consistently missing or incomplete information in the Review Materials with respect to each Subject Receivable. Once the Asset Representations Reviewer has confirmed the majority of the Review Materials have been provided in accordance
with Section 3.03, the Asset Representations Reviewer will commence the Asset Review. In instances where Review Material is not accessible, clearly unidentifiable, and/or illegible, the Asset Representations

  

					
		  	4	  	Asset Representations Review Agreement (SDART 2019-1)

 
Reviewer will request that the Servicer (with a copy to the Sponsor) provide an updated copy of such Review Material. If the Servicer and the Sponsor have not provided the missing Review Material
for a Subject Receivable to the Asset Representations Reviewer within 60 days of notification by the Asset Representations Reviewer, the parties agree that such Subject Receivable will have a Test Incomplete for the related Test(s) and the Review
Report will indicate the reason for the Test Incomplete. 
 Section 3.05 The Asset Review. 

For an Asset Review, the Asset Representations Reviewer will perform the applicable procedures listed under “Tests” in Exhibit A for
each Eligibility Representation. In the course of its review, the Asset Representations Reviewer will use the Review Materials listed in Exhibit A. For each Test, the Asset Representations Reviewer will determine if the Test has been satisfied (a
“Test Pass”), if the Test has not been satisfied (a “Test Fail”) or if the Test could not be concluded as a result of missing or incomplete Review Materials (a “Test Incomplete”). 

If a Subject Receivable was included in a prior Asset Review, the Asset Representations Reviewer will not conduct additional Tests on any such
duplicate Subject Receivable unless such Subject Receivable was deemed a Test Incomplete as a result of the failure of the Servicer and the Sponsor to provide missing Review Materials for such Subject Receivable and the Sponsor elects to have such
Subject Receivable included in the current Asset Review. The Asset Representations Reviewer will include the previously reported Test results for any such duplicate Subject Receivable within the Review Report for the current Asset Review. 

Section 3.06 Review Period. 

The Asset Representations Reviewer will complete the Review within 60 days of receiving access to the Review Materials in accordance with
Section 3.03 (such time period, the “Review Period”); provided, that if additional Review Materials are provided to the Asset Representations Reviewer as described in
Section 3.04, the Review Period will be extended for an additional 30 days. 
 Section 3.07 Review
Report. 
 Within five Business Days following the end of the applicable Review Period described in
Section 3.06, the Asset Representations Reviewer will provide the Issuer, the Sponsor, the Servicer and the Indenture Trustee with (i) a report (a “Review Report”) specifying for each Subject
Receivable whether there was a Test Pass, a Test Fail, a Test Incomplete (as contemplated by Section 3.05) or a Test Complete (as contemplated by Section 3.08) for each Test and Subject Receivable
and (ii) the related Review Invoice. The Review Report will include a summary of the findings and conclusions of the Asset Representations Reviewer with respect to the Asset Review to be included in the Form
10-D for the Issuer for the Collection Period in which the Review Report is received. The Asset Representations Reviewer will ensure that the Review Report does not contain any Personally Identifiable
Information. For the avoidance of doubt, the Indenture Trustee shall have no obligation to forward the Review Report to any Noteholder or any other person. 

  

					
		  	5	  	Asset Representations Review Agreement (SDART 2019-1)

 Section 3.08 Completion of Review for Certain Subject Receivables. 

Following the delivery of the list of the Subject Receivables and before the delivery of the Review Report by the Asset Representations
Reviewer, the Servicer may notify the Asset Representations Reviewer if a Subject Receivable is paid in full by or on behalf of the Obligor or purchased from the Issuer by the Sponsor or the Servicer in accordance with the Transaction Documents. On
receipt of notice, the Asset Representations Reviewer will immediately terminate all Tests of such Receivables and the Asset Review of such Receivables will be considered complete (a “Test Complete”). In this case, the Review Report
will indicate a Test Complete for the Receivables and the related reason. 
 Section 3.09 Termination of Review. 

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

The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger has occurred, (ii) to
determine whether the required percentage of Noteholders has voted to direct an Asset Review and may rely on the information in any Review Notice delivered by the Indenture Trustee, (iii) to determine which Receivables are Subject Receivables
and may rely on the list of Subject Receivables provided by the Servicer, (iv) to confirm the validity of the Review Materials, (v) other than as specified in Section 3.03, to obtain missing or insufficient Review
Materials, or (vi) to take any action or to cause any other party to take any action under any of the Transaction Documents to enforce any remedies for any breach of a representation, warranty or covenant, including any Eligibility
Representation. 
 The Asset Representations Reviewer shall only be required to perform the testing procedures listed under
“Tests” in Exhibit A, and shall have no obligation to perform additional testing procedures on any Subject Receivables or to consider any additional information provided by any party. The Asset Representations Reviewer shall have no
obligation to provide reporting or other information other than the Review Report described in Section 3.07. However, the Asset Representations Reviewer may provide additional information about any Subject Receivable that
it determines in good faith to be material to its performance of an Asset Review. 
 Section 3.11 Review Systems. 

The Asset Representations Reviewer shall maintain and utilize an electronic case management system to manage the Tests and to provide
systematic control over each step in the Asset Review process and ensure consistency and repeatability for the Tests. The Asset 

  

					
		  	6	  	Asset Representations Review Agreement (SDART 2019-1)

 
Representations Reviewer will ensure that these systems allow for each Subject Receivable and the related Review Materials to be individually tracked and stored as contemplated by this Agreement.
The Asset Representations Reviewer will maintain adequate staff that is properly trained to conduct Asset Reviews as required by this Agreement. 

Section 3.12 Representatives. 

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

Section 3.13 Dispute Resolution. 

If a Subject Receivable that was reviewed by the Asset Representations Reviewer during an Asset Review is the subject of a dispute resolution
proceeding under Section 9.24 of the Sale and Servicing Agreement, the Asset Representations Reviewer shall participate in the dispute resolution proceeding on request of a party to the proceeding. The reasonable out-of-pocket expenses and reasonable compensation of the Asset Representations Reviewer for its participation in any dispute resolution proceeding will be considered expenses
of the Requesting Party for the dispute resolution and (subject to Section 4.03) will be paid by a party to the dispute resolution as determined by the mediator or arbitrator for the dispute resolution according to
Section 9.24 of the Sale and Servicing Agreement. 
 Section 3.14 Records Retention. 

The Asset Representations Reviewer will maintain copies of Review Materials, Review Reports and internal work papers and correspondence
(collectively the “Client Records”) for a period of two years after the termination of this Agreement. At the expiration of the retention period, the Asset Representations Reviewer shall return all Client Records to the Servicer, in
electronic format or, to the extent held in tangible form, in that form. Upon the return of the Client Records, the Asset Representations Reviewer shall have no obligation to retain such Client Records or to respond to inquiries concerning any Asset
Review. 
 Section 3.15 No Delegation. 

  

					
		  	7	  	Asset Representations Review Agreement (SDART 2019-1)

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

PAYMENTS TO ASSET REPRESENTATIONS REVIEW 

Section 4.01 Annual Fee. 

As compensation for its activities hereunder, the Asset Representations Reviewer shall be entitled to receive an annual fee in an amount equal
to $5,000 (the “Annual ARR Fee”) during the term of this Agreement, which shall be paid by or on behalf of the Sponsor within 30 days of the date hereof, with respect to the initial Annual ARR Fee, and within 30 days of the annual
anniversary of this Agreement with respect to each subsequent Annual ARR Fee; provided, however, that if the Asset Representations Reviewer resigns or is removed in accordance with Section 6.02, then the Asset
Representations Reviewer shall refund to the Sponsor the portion of the Annual ARR Fee attributable to the portion of the annual period during which Clayton will no longer act as the Asset Representations Reviewer, assuming for purposes of such
calculation that the Annual ARR Fee for each day during the annual period is an amount equal to the Annual ARR Fee divided by 365. 

Section 4.02 Review Fee. 

Following the completion of an Asset Review and delivery to the Indenture Trustee, the Sponsor, the Servicer and the Issuer of the Review
Report and the related Review Invoice, the Sponsor shall pay to the Asset Representations Reviewer a fee of $200.00 for each Subject Receivable for which the Asset Review was completed plus reasonable out-of-pocket expenses incurred in connection with travel to the location at which Review Materials are made available in accordance with Section 3.03 (the “Review
Fee”). However, no Review Fee will be charged for any Subject Receivable which was included in a prior Asset Review or for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the
Asset Review according to Section 3.09. To the extent not paid by the Sponsor and outstanding for at least 90 days after receipt by the Indenture Trustee, the Sponsor, the Servicer and the Issuer of the Review Invoice, the
Review Fee shall be paid by the Issuer pursuant to the priority of payments sets forth in Section 4.4 of the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable. For the
avoidance of doubt, there shall be no aggregate limit on the Review Fee paid by the Sponsor to the Asset Representations Reviewer pursuant to this Section 4.02. 

Section 4.03 Dispute Resolution Expenses. 

If the Asset Representations Reviewer participates in a dispute resolution proceeding under Section 3.13 and its
reasonable out-of-pocket expenses and reasonable compensation for the time it incurs in participating in the proceeding are not paid by a party to the dispute

  

					
		  	8	  	Asset Representations Review Agreement (SDART 2019-1)

 
resolution within ninety (90) days of the end of the proceeding, the Sponsor will reimburse the Asset Representations Reviewer for such expenses upon receipt of a detailed invoice. 

  

					
		  	9	  	Asset Representations Review Agreement (SDART 2019-1)

 Section 4.04 Payment. 

All payments made to the Asset Representations Reviewer shall be made to the account specified by the Asset Representations Reviewer from time
to time in writing to the Indenture Trustee, the Sponsor, the Servicer and the Issuer. 
 Section 4.05 Payments by the Issuer.

 The Asset Representations Reviewer acknowledges and agrees that any payments payable by the Issuer under this Agreement, including
pursuant to this Article IV or Section 5.03, shall be limited to amounts available to make such payments pursuant to Section 4.4 of the Sale and Servicing Agreement and
Section 5.4(b) of the Indenture, as applicable. 
 ARTICLE V. 

OTHER MATTERS PERTAINING TO THE ASSET REPRESENTATIONS REVIEWER 

Section 5.01 Representations and Warranties of the Asset Representations Reviewer. 

Clayton hereby makes the following representations and warranties as of the date hereof: 

(a) Existence and Power. Clayton is a limited liability company validly existing and in good standing under the laws of its state of
formation and has, in all material respects, full power and authority to own its assets and operate its business as presently owned or operated, and to execute, to deliver and to perform its obligations under this Agreement. Clayton has obtained all
necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of Clayton to perform its obligations under this Agreement. 

(b) Authorization and No Contravention. The execution, delivery and performance by Clayton of the Transaction Documents to which it is a
party have been duly authorized by all necessary limited liability company action on the part of Clayton and do not contravene or constitute a default under (i) any applicable law, rule or regulation, (ii) its organizational documents or
(iii) any material indenture or material agreement or instrument to which Clayton is a party or by which its properties are bound (other than violations of such laws, rules, regulations, organizational documents, indentures, agreements or
instruments which do not affect the legality, validity or enforceability of any of such agreements and which, individually or in the aggregate, would not materially and adversely affect the transactions contemplated by, or Clayton’s ability to
perform its obligations under, this Agreement). 
 (c) No Consent Required. No approval or authorization by, or filing with, any
Governmental Authority is required in connection with the execution, delivery and performance by Clayton of this Agreement other than (i) approvals and authorizations that have previously been obtained and filings that have previously been made
and (ii) approvals, authorizations or filings which, if not obtained or made, would not have a material adverse effect on the ability of Clayton to perform its obligations under this Agreement. 

  

					
		  	10	  	Asset Representations Review Agreement (SDART 2019-1)

 (d) Binding Effect. This Agreement constitutes the legal, valid and binding
obligation of Clayton enforceable against Clayton in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other similar laws
affecting the enforcement of creditors’ rights generally and, if applicable, the rights of creditors of corporations from time to time in effect or by general principles of equity. 

(e) No Proceedings. There are no actions, orders, suits or proceedings pending or, to the knowledge of Clayton, threatened against
Clayton before or by any Governmental Authority that (i) assert the invalidity or unenforceability of this Agreement or (ii) seek any determination or ruling that would materially and adversely affect the performance by Clayton of its
obligations under this Agreement. 
 (f) Eligibility. The Asset Representations Reviewer is an Eligible Asset Representations
Reviewer. 
 Section 5.02 Limitation of Liability of Asset Representations Reviewer. 

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

The Asset Representations Reviewer and any director, officer, employee, or agent may rely in good faith on any document of any kind prima
facie properly executed and submitted by any Person respecting any matters arising hereunder. The Asset Representations Reviewer shall not be under any obligation to appear in, prosecute or defend any legal action which is not incidental to its
duties as Asset Representations Reviewer hereunder. 
 Section 5.03 Indemnification of Asset Representations Reviewer. 

(a) The Sponsor will indemnify the Asset Representations Reviewer and its officers, directors, employees and agents (each, an
“Indemnified Person”), for all costs, expenses, losses, damages and liabilities resulting from the performance of the Asset Representations Reviewer’s obligations under this Agreement (including the costs and expenses of
defending itself against any loss, damage or liability), but excluding any cost, expense, loss, damage or liability resulting from (i) the Asset Representations Reviewer’s willful misconduct, bad faith or negligence or (ii) the Asset
Representations Reviewer’s breach of any of its representations, warranties or 

  

					
		  	11	  	Asset Representations Review Agreement (SDART 2019-1)

 
covenants in this Agreement. To the extent not paid by the Sponsor, any such indemnification amounts shall be paid by the Issuer pursuant to the priority of payments set forth in
Section 4.4 of the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable. 

(b) The indemnification set forth in this Section 5.03 will survive the termination of this Agreement and the
resignation or removal of the Asset Representations Reviewer. 
 (c) If the Sponsor or the Issuer makes any payment under this
Section 5.03 and the Indemnified Person later collects any of the amounts for which the payments were made to it from others, the Indemnified Person will promptly repay the amount to the Sponsor or the Issuer, as
applicable. 
 Section 5.04 Indemnification by Asset Representations Reviewer. 

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

(b) In case any such action, investigation or proceeding will be brought involving an Indemnified Person as contemplated by
Section 5.04(a), the Asset Representations Reviewer will assume the defense thereof, including the employment of counsel and the payment of all expenses. The Issuer, the Servicer, the Sponsor and the Indenture Trustee each
will have the right to employ separate counsel in any such action, investigation or proceeding and to participate in the defense thereof and the reasonable fees and expenses of such counsel will be paid by the Asset Representations Reviewer. In the
event of any claim, action, or proceeding for which indemnity will be sought pursuant to this Section 5.04, the Issuer’s, the Servicer’s, the Sponsor’s and the Indenture Trustee’s choice of legal counsel
shall be subject to the good faith objection by the Asset Representations Reviewer to a conflict of interest under the applicable rules of professional conduct. 

(c) The indemnification set forth in this Section 5.04 will survive the termination or assignment of this Agreement
and the resignation or removal of the Asset Representations Reviewer or any Indemnified Person. 

  

					
		  	12	  	Asset Representations Review Agreement (SDART 2019-1)

 ARTICLE VI. 

REMOVAL, RESIGNATION; SUCCESSOR ASSET REPRESENTATION REVIEWER 

Section 6.01 Eligibility Requirements for Asset Representations Reviewer. The Asset Representations Reviewer must be an Eligible
Asset Representations Reviewer. 
 Section 6.02 Resignation and Removal of Asset Representations Reviewer. 

(a) No Resignation of Asset Representations Reviewer. The Asset Representations Reviewer may not resign as Asset Representations
Reviewer except (i) if the Asset Representations Reviewer is no longer an Eligible Asset Representations Reviewer, (ii) upon a determination that the performance of its duties under this Agreement is no longer permissible under applicable
law or (iii) if it does not receive payment in full of any amounts required to be paid to the Asset Representations Reviewer in accordance with Article IV and pursuant to an undisputed invoice, which failure continues unremedied for a period of
ninety (90) days after written notice of such failure shall have been given to the Issuer, the Sponsor and the Indenture Trustee. Without limiting the foregoing, the Asset Representations Review shall promptly resign if it is no longer an
Eligible Asset Representations Reviewer. If the Asset Representations Reviewer resigns pursuant to clause (ii) above, the Asset Representations Reviewer shall deliver a notice of resignation to the Issuer and the Servicer, with a copy to the
Indenture Trustee, no less than thirty (30) days prior to the date of its resignation. 
 (b) Removal of Asset Representations
Reviewer. If any of the following events occur, the Indenture Trustee may, or, at the direction of Noteholders evidencing a majority of the aggregate Outstanding Amount of the Notes shall, by notice to the Asset Representations Reviewer, remove
the Asset Representations Reviewer and terminate its rights and obligations under this Agreement: 
 (i) the Asset
Representations Reviewer is no longer an Eligible Asset Representations Reviewer; 
 (ii) the Asset Representations Reviewer
breaches any of its representations, warranties, covenants or obligations in this Agreement; or 
 (iii) a Bankruptcy Event
of the Asset Representations Reviewer occurs. 
 (c) Notice of Resignation or Removal. The Servicer will notify the Issuer, the Owner
Trustee and the Indenture Trustee of any resignation or removal of the Asset Representations Reviewer. 
 Section 6.03 Successor
Asset Representations Reviewer. 
 (a) Engagement of Successor Asset Representations Reviewer. Following the resignation or
removal of the Asset Representations Reviewer, (i) if the Delinquency Percentage has exceeded the Delinquency Trigger as of the most recent Payment Date, the Indenture Trustee (at the direction of the Noteholders, provided, that if the
Indenture Trustee has received 

  

					
		  	13	  	Asset Representations Review Agreement (SDART 2019-1)

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

(c) Transition and Expenses. If the Asset Representations Review resigns or is removed, the Asset Representations Reviewer will
cooperate with the Issuer and take all actions reasonably requested to assist the Issuer in making an orderly transition of the Asset Representations Reviewer’s rights and obligations under this Agreement to the successor Asset Representations
Reviewer. The Asset Representations Reviewer will pay the reasonable expenses (including the fees and expenses of counsel) of transitioning the Asset Representations Reviewer’s obligations under this Agreement and preparing the successor Asset
Representations Reviewer to take on such obligations on receipt of an invoice with reasonable detail of the expenses from the Issuer or the successor Asset Representations Reviewer. 

Section 6.04 Merger, Consolidation or Succession. Any Person (a) into which the Asset Representations Reviewer is merged or
consolidated, (b) resulting from any merger or consolidation to which the Asset Representations Reviewer is a party or (c) succeeding to the business of the Asset Representations Reviewer, if that Person is an Eligible Asset
Representations Reviewer, will be the successor to the Asset Representations Reviewer under this Agreement. Such Person will execute and deliver to the Issuer, the Sponsor and the Servicer an agreement to assume the Asset Representations
Reviewer’s obligations under this Agreement (unless the assumption happens by operation of law). 
 ARTICLE VII. 

TREATMENT OF CONFIDENTIAL INFORMATION 

Section 7.01 Confidential Information. 

(a) Confidential Information Defined. For the purposes of this Agreement, “Confidential Information” means nonpublic
proprietary information of a party (the “Disclosing Party”) that is disclosed to the other party (the “Receiving Party”), including but not limited to: (i) business or technical processes, formulae, source
codes, object code, product designs, sales, cost and other unpublished financial information, customer information, product and business plans, projections, marketing data or strategies, trade secrets, intellectual property rights, know-how, expertise, methods and procedures for operation, information about employees, customer 

  

					
		  	14	  	Asset Representations Review Agreement (SDART 2019-1)

 
names, business or technical proposals, and any other information which is or should reasonably be understood to be confidential or proprietary to the Disclosing Party; (ii) PII (as defined
in Section 7.02 of this Agreement). The foregoing definition of Confidential Information applies to: (i) all such information, whether tangible or intangible and regardless of the medium in which it is stored or
presented; and (ii) all copies of such information, as well as all memoranda, notes, summaries, analyses, computer records, and other materials prepared by the Receiving Party or any of its employees, agents, advisors, directors, officers, and
subcontractors (collectively “Representatives”) that contain or reflect the Confidential Information. 
 (b) Use of
Confidential Information. Each party acknowledges that during the term of this Agreement it may be exposed to or acquire Confidential Information of the other party or its Affiliates. The Receiving Party shall hold the Confidential Information
of the Disclosing Party in strict confidence and will not disclose such information except to its Representatives who have a need to know such information for the purpose of effecting the terms and conditions of this Agreement and who have entered
into an agreement with the Receiving Party with confidentiality restrictions materially equivalent to those contained herein. The Receiving Party shall be responsible for the breach of this Agreement by any of its Representatives. The Receiving
Party will protect the Disclosing Party’s Confidential Information using the same degree of care that it uses to protect its own information of like import, but in no event with less than a commercially reasonable standard of care. 

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

  

	 	(i)	 is or becomes part of the public domain other than by disclosure by a party in violation of this Agreement;

  

	 	(ii)	 was disclosed to a party prior to the effective date of this Agreement without a duty of confidentiality;

  

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

  

	 	(iv)	 was obtained from a third party not known after reasonable inquiry to be under a duty of confidentiality.

 The foregoing exceptions shall not apply to any PII, which shall remain confidential in all circumstances, except as
required or permitted to be disclosed by applicable law, statute, or regulation. 
 (d) Disclosure by Operation of Law. If either
party is requested to disclose all or any part of any Confidential Information under a subpoena, or inquiry issued by a court of competent jurisdiction or by a judicial or administrative agency or legislative body or committee, such party shall
(i) to the extent permitted by law, promptly notify the other party of the existence, terms and circumstances surrounding such request; (ii) consult with the other party on the advisability of taking legally available steps to resist or
narrow such request and cooperate with such Party on 

  

					
		  	15	  	Asset Representations Review Agreement (SDART 2019-1)

 
any steps it considers advisable; and (iii) if disclosure of the Confidential Information is required or deemed advisable, exercise commercially reasonable efforts to obtain an order,
stipulation or other reliable assurance that confidential treatment shall be accorded to such portion of the Confidential Information to be disclosed. Each party shall reimburse the other party for reasonable legal fees and expenses incurred in
connection with such party’s effort to comply with this section. 
 (e) Return of Confidential Information. Upon the request of
the Disclosing Party, the Receiving Party shall return all Confidential Information to the Disclosing Party provided to it pursuant to this Agreement; provided, however, (i) the Receiving Party shall be permitted to retain copies of the
Disclosing Party’s Confidential Information solely for archival, audit, disaster recovery, legal and/or regulatory purposes, and (ii) neither party will be required to search archived electronic
back-up files of its computer systems for the other party’s Confidential Information in order to purge the other party’s Confidential Information from its archived files; provided further, that any
Confidential Information so retained will (x) remain subject to the obligations and restrictions contained in this Agreement, (y) will be maintained in accordance with the retaining party’s document retention policies and procedures,
and (z) the retaining party will not use the retained Confidential Information for any other purpose. 
 (f) Remedies. The
parties agree that an actual or threatened breach of this Section by it or its Representatives may cause irreparable damage to the Disclosing Party and that damages may not be an adequate remedy for any such breach. Accordingly, each party shall be
entitled to seek injunctive relief to restrain any such breach, threatened or actual, without the necessity of posting bond, in addition to any other remedies available to such party at law or in equity. 

Section 7.02 Safeguarding Personally Identifiable Information. 

(a) Definition. “Personally Identifiable Information”, or “PII”, means information in any format about
an identifiable individual, including, name, address, phone number, e-mail address, account number(s), identification number(s), any other actual or assigned attribute associated with or identifiable to an
individual and any information that when used separately or in combination with other information could identify an individual, as further described in § 501(b) of the Gramm-Leach-Bliley Act and the Interagency Guidelines Establishing Standards
for Safeguarding Customer Information (12 C.F.R. Section 208, Appendix D-2) (collectively, the “Privacy Laws”), that is provided or made available to the Asset Representations Reviewer
pursuant to this Agreement. 
 (b) Non-Disclosure. To the extent the Asset Representations
Reviewer receives Personally Identifiable Information in the performance its obligations hereunder, the Asset Representations Reviewer agrees that it will not disclose or use any Personally Identifiable Information except (i) to the extent
necessary to carry out its obligations under the Agreement and for no other purpose; or (ii) as may be required by valid operation of law. 

(c) Safeguards. To the extent the Asset Representations Reviewer receives Personally Identifiable Information in the performance of
services under this Agreement, the Asset Representations Reviewer represents and warrants that it has, and will continue to have 

  

					
		  	16	  	Asset Representations Review Agreement (SDART 2019-1)

 
adequate administrative, technical, and physical safeguards: (i) to ensure the security and confidentiality of Personally Identifiable Information; (ii) to protect against any
anticipated threats or hazards to the security or integrity of Personally Identifiable Information; and (iii) to protect against unauthorized acquisition of, access to or use of Personally Identifiable Information which could result in a
“breach” as that term is defined under applicable Privacy Laws. 
 (d) Information. The Asset Representations Reviewer
agrees to provide the Issuer and the Sponsor with information regarding its privacy and information security systems, policies and procedures as the Issuer may reasonably request relating to compliance with this Agreement and applicable Privacy
Laws. The Asset Representations Reviewer agrees to provide training in the Privacy Laws and the Asset Representations Reviewer’s information security policies to all personnel whose duties pursuant to this Agreement could bring them in contact
with Personally Identifiable Information. 
 (e) Breach. In the event of any actual or apparent theft, unauthorized use or disclosure
of any Personally Identifiable Information, the Asset Representations Reviewer will commence all reasonable efforts to investigate and correct the causes and remediate the results thereof, and as soon as practicable following discovery of any such
event, provide the Issuer and the Sponsor notice thereof, and such further information and assistance as may be reasonably requested. 

ARTICLE VIII. 
 OTHER
MATTERS PERTAINING TO THE ISSUER 
 Section 8.01 Termination of this Agreement. 

This Agreement will terminate, except for obligations under Section 5.03, Section 5.04,
Section 9.13 and Article VII, on the earlier of (a) the payment in full of all outstanding Notes and the satisfaction and discharge of the Indenture and (b) the date the Issuer is terminated under the Trust
Agreement. 
 Section 8.02 Limitation of Liability. It is expressly understood and agreed by the parties that (a) this
document is executed and delivered by Wilmington Trust, National Association, not individually or personally, but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it, pursuant to the Trust
Agreement, (b) each of the representations, warranties, covenants, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, warranties, covenants undertakings and agreements by
Wilmington Trust, National Association, but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Wilmington Trust, National Association, individually or
personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto, (d) Wilmington Trust,
National Association has made no investigation as to the accuracy or completeness of any representations or warranties made by the 

  

					
		  	17	  	Asset Representations Review Agreement (SDART 2019-1)

 
Issuer or any other Person in this Agreement and (e) under no circumstances shall Wilmington Trust, National Association be personally liable for the payment of any indebtedness, indemnities
or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or under the Notes or any of the other Transaction Documents or in any of
the certificates, notices or agreements delivered pursuant thereto, as to all of which recourse shall be had solely to the assets of the Issuer. 

ARTICLE IX. 

MISCELLANEOUS PROVISIONS 

Section 9.01 Amendment. 

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

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

provided, that no amendment pursuant to this Section 9.01(a) shall be effective which affects the rights, protections or
duties of the Indenture Trustee or the Owner Trustee without the prior written consent of such Person. 
 (b) This Agreement may also be
amended from time to time by the Sponsor, the Servicer and the Asset Representations Reviewer, with the consent of the Holders of Notes evidencing not less than a majority of the aggregate principal balance of the Controlling Class, for the purpose
of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders, provided, that no amendment pursuant to this
Section 9.01(b) shall be effective which affects the rights, protections or duties of the Indenture Trustee or the Owner Trustee without the prior written consent of such Person. It will not be necessary for the consent of
Noteholders to approve the particular form of any proposed amendment or consent, but it will be sufficient if such consent approves the substance thereof. The manner of obtaining such consents (and any other consents of Noteholders provided for in
this Agreement) and of evidencing the authorization of the execution thereof by Noteholders will be subject to such reasonable requirements as the Indenture Trustee may prescribe, including the establishment of record dates pursuant to the
Depository Agreement. 

  

					
		  	18	  	Asset Representations Review Agreement (SDART 2019-1)

 (c) Any term or provision of this Agreement may also be amended from time to time by the
Sponsor, the Servicer and the Asset Representations Reviewer for the purpose of conforming the terms of this Agreement to the description thereof in the Prospectus or, to the extent not contrary to the Prospectus, to the description thereof in an
offering memorandum with respect to the 144A Notes or the Certificates without the consent of the Indenture Trustee, any Noteholder, the Issuer, the Owner Trustee or any other Person, provided, however, that the Sponsor, the Servicer
and the Asset Representations Reviewer shall provide written notification of the substance of such amendment to the Indenture Trustee, the Issuer and the Owner Trustee and promptly after the execution of such amendment, the Sponsor and the Servicer
shall furnish a copy of such amendment to the Indenture Trustee, the Issuer and the Owner Trustee. 
 (d) Prior to the execution of any
amendment or consent pursuant to this Section 9.01, the Sponsor shall provide written notification of the substance of such amendment to each Rating Agency; and promptly after the execution of any such amendment or consent,
the Sponsor shall furnish a copy of such amendment or consent to each Rating Agency and the Indenture Trustee. 
 (e) Prior to the execution
of any amendment to this Agreement, the Owner Trustee and the Indenture Trustee shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement
and that all conditions precedent to the execution and delivery of such amendment have been satisfied. The Owner Trustee and the Indenture Trustee may, but shall not be obligated to, enter into any such amendment which adversely affects the Owner
Trustee’s or the Indenture Trustee’s, as applicable, own rights, duties or immunities under this Agreement. 
 Section 9.02
Notices, Etc. All demands, notices and communications hereunder shall be in writing and shall be delivered or mailed by registered or certified first-class United States mail, postage prepaid, hand delivery, prepaid courier service, or by
facsimile or by electronic transmission, and addressed in each case as specified on Schedule I to the Sale and Servicing Agreement or at such other address as shall be designated by any of the specified addressees in a written notice to the
other parties hereto. Delivery shall occur only upon receipt or reported tender of such communication by an officer of the recipient entitled to receive such notices located at the address of such recipient for notices hereunder. 

Section 9.03 Severability Clause. 

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

  

					
		  	19	  	Asset Representations Review Agreement (SDART 2019-1)

 Section 9.04 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE INTERNAL, SUBSTANTIVE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO CONFLICTS OF LAW, OTHER THAN SECTIONS 5-1401 AND
5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

Section 9.05 Headings. The article and section headings hereof have been inserted for convenience only and shall not be construed
to affect the meaning, construction or effect of this Agreement. 
 Section 9.06 Counterparts. This Agreement may be executed in
any number of counterparts, each of which so executed shall be deemed to be an original, but all of such counterparts shall together constitute but one and the same instrument. 

Section 9.07 Waivers. No failure or delay on the part of the Sponsor, the Servicer, the Asset Representations Reviewer, the Issuer
or the Indenture Trustee in exercising any power or right hereunder (to the extent such Person has any power or right hereunder) shall operate as a waiver thereof, nor shall any single or partial exercise of any such power or right preclude any
other or further exercise thereof or the exercise of any other power or right. No notice to or demand on the any party hereto in any case shall entitle it to any notice or demand in similar or other circumstances. No waiver or approval by either
party under this Agreement shall, except as may otherwise be stated in such waiver or approval, be applicable to subsequent transactions. No waiver or approval under this Agreement shall require any similar or dissimilar waiver or approval
thereafter to be granted hereunder. 
 Section 9.08 Entire Agreement. This Agreement contains a final and complete integration
of all prior expressions by the parties hereto with respect to the subject matter thereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter thereof, superseding all prior oral or written
understandings. There are no unwritten agreements among the parties. 
 Section 9.09 Severability of Provisions. If any one or
more of the covenants, agreements, provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements,
provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement. 

Section 9.10 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until such time as the parties hereto
shall agree. 

  

					
		  	20	  	Asset Representations Review Agreement (SDART 2019-1)

 Section 9.11 Cumulative Remedies. The remedies herein provided are cumulative
and not exclusive of any remedies provided by law. 
 Section 9.12 Nonpetition Covenant. Each party hereto agrees that, prior to
the date which is one year and one day after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by any Bankruptcy Remote Party (i) such party hereto shall not authorize any Bankruptcy Remote
Party to commence a voluntary winding-up or other voluntary case or other Proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under any
bankruptcy, insolvency or other similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote
Party or any substantial part of its property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other Proceeding commenced against such Bankruptcy Remote Party, or to make a
general assignment for the benefit of its creditors generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence, join with any other Person in commencing or institute with any other
Person, any Proceeding against such Bankruptcy Remote Party under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. This Section shall survive the termination of this Agreement.

 Section 9.13 Submission to Jurisdiction; Waiver of Jury Trial. Each of the parties hereto hereby irrevocably and
unconditionally: 
 (a) submits for itself and its property in any Proceeding relating to this Agreement or any documents executed and
delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts of the State of New York, the courts of the United States of America for the Southern
District of New York and appellate courts from any thereof; 
 (b) consents that any such Proceeding may be brought and maintained in such
courts and waives any objection that it may now or hereafter have to the venue of such Proceeding in any such court or that such Proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 

(c) agrees that service of process in any such Proceeding may be effected by mailing a copy thereof by registered or certified mail (or any
substantially similar form of mail), postage prepaid, to such Person at its address determined in accordance with Section 9.02 of this Agreement; 

(d) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the
right to sue in any other jurisdiction; and 
 (e) to the extent permitted by applicable law, each party hereto irrevocably waives all
right of trial by jury in any Proceeding or counterclaim based on, or arising out  

  

					
		  	21	  	Asset Representations Review Agreement (SDART 2019-1)

 
of, under or in connection with this Agreement, any other Transaction Document, or any matter arising hereunder or thereunder. 

Section 9.14 Third-Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon the parties hereto and
their respective successors and permitted assigns and each of the Owner Trustee and the Indenture Trustee shall be an express third-party beneficiary hereof and may enforce the provisions hereof as if it were a party hereto. Except as otherwise
provided in this Section, no other Person will have any right hereunder. 

  

					
		  	22	  	Asset Representations Review Agreement (SDART 2019-1)

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

			
	SANTANDER CONSUMER USA INC.
		
	By:	 	 /s/ Corey Henry

		 	Name: Corey Henry
		 	Title: Vice President
	
	SANTANDER DRIVE AUTO RECEIVABLES TRUST 2019-1
		
	By:	 	Wilmington Trust, National Association, not in its individual capacity but solely as Owner Trustee
		
	By:	 	 /s/ Roseline K. Maney

		 	Name: Roseline K. Maney
		 	Title: Administrative Vice President
	
	CLAYTON FIXED INCOME SERVICES LLC,
	as Asset Representations Reviewer
		
	By:	 	 /s/ Robert Harris

		 	Name: Robert Harris
		 	Title: Secretary

  

  

					
		  	S-1	  	Asset Representations Review Agreement (SDART 2019-1)

 EXHIBIT A 
  

 
  
 Santander
Consumer USA Agreed Upon Procedures 
 Representation 

a) Characteristics of Receivables 
 As of
the Cut-Off Date (or such other date as may be specifically set forth below), each Receivable: 
 (i)
has been fully and properly executed or electronically authenticated by the Obligor thereto; 
 (ii) either (A) has been originated by a
Dealer to finance the retail sale by that Dealer of the related Financed Vehicle and has been purchased by Santander Consumer in accordance with the terms of a dealer agreement between Santander Consumer and that Dealer, (B) has been originated
by Santander Consumer or (C) has been acquired by Santander Consumer in accordance with the terms of a purchase agreement between the applicable originator and Santander Consumer; 

(iii) as of the Closing Date, is secured by a first priority validly perfected security interest in the Financed Vehicle in favor of the
Originator, as secured party, or all necessary actions have been commenced that would result in a first priority security interest in the Financed Vehicle in favor of the Originator, as secured party; 

(iv) contains customary and enforceable provisions such that the rights and remedies of the holder thereof are adequate for realization against
the collateral of the benefits of the security; 
 (v) provided, at origination, for level monthly payments which fully amortize the initial
Principal Balance over the original term; provided, that the amount of the first or last scheduled payment may be different from the level payment but in no event more than three times the level monthly payment; 

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

(vii) was originated in the United States and denominated in Dollars; 

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

(ix) has a Contract Rate of at least 0.00%; 

  

					
		  	Exh. A - 1	  	Asset Representations Review Agreement (SDART 2019-1)

 

 
  
 Santander
Consumer USA Agreed Upon Procedures 
  

 (x) had an original term to maturity of not more than 75 months and each Receivable has a
remaining term to maturity, as of the Cut-Off Date, of not more than 75 months and not less than 4 months; 

(xi) has an outstanding Principal Balance of at least $500.00 and no more than $110,253.78; 

(xii) has a final scheduled payment due on or before June 14, 2025; 

(xiii) was not more than 30 days past due as of the Cut-Off Date; 

(xiv) was not identified in the records of the Servicer as being the subject of any pending bankruptcy or insolvency proceeding; 

(xv) is not subject to a force-placed Insurance Policy on the related Financed Vehicle; 

(xvi) is a Simple Interest Receivable; and 

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

Retail Sale Contract 
 Title Documents 

Receivable File 
 Schedule of Receivables 

Servicing System/Data Tape 
 Procedures to be Performed

  

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

 

	ii)	 Origination of the Receivable 

 

	 	a)	 Review the Retail Sale Contract and confirm that Santander Consumer USA or another Approved Party is listed as
the Assignee within the Assignment Section.1 

  

	iii)	 Security Interest Enforcement 

 

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

  

					
		  	Exh. A - 2	  	Asset Representations Review Agreement (SDART 2019-1)

 

 
  
 Santander
Consumer USA Agreed Upon Procedures 
  

	 	a)	 Confirm the title documents show Santander Consumer USA or another Approved Party as the first lienholder

  

	 	b)	 Review the servicing system and confirm the Pool ID in the system matches the Pool ID for the transaction
related to the deal 

  

	iv)	 Customary and Enforceable Provisions 

 

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

  

	v)	 Fully Amortizing Payment Schedule 

 

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

  

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

  

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

  

	vi)	 Provides for Interest at the Contract Rate 

 

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

  

	vii)	 Origination of the Receivable 

 

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

 

	 	b)	 Review the Retail Sale Contract and confirm that the amounts stated within the Truth in Lending section are
denominated in US dollars 

  

	viii)	 Condition, Make and Model of Financed Vehicle 

 

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

  

	 	b)	 Review the “Year and Make” and “Model” sections of the Retail Sale Contract and confirm
that the Financed Vehicle constitutes a light-duty truck or van 

  

	ix)	 Contract Annual Percentage Rate 

 

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

  

	x)	 Remaining Maturity Date 

 

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

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

	xi)	 Outstanding Principal Balance 

 

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

  

					
		  	Exh. A - 3	  	Asset Representations Review Agreement (SDART 2019-1)

 

 
  
 Santander
Consumer USA Agreed Upon Procedures 
  

 a) Review the Data and confirm that the Unpaid Principal Balance as of the Cutoff Date is
within the stated allowable limits 
  

	xii)	 Final Scheduled Payment Date 

 

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

  

	xiii)	 Days Past Due 

  

	 	a)	 Review the data file and confirm the Receivable was not more than 30 days past due as of the Cutoff Date

  

	xiv)	 Bankruptcy 

  

	 	a)	 Review the Receivable File and any applicable servicing notes and confirm there is no indication of pending
bankruptcy or insolvency proceedings 

  

	xv)	 Force Place Insurance 

 

	 	a)	 Review the servicing system and confirm the Receivable did not have Force Place Insurance as of the Cutoff Date

  

	xvi)	 Simple Interest Receivable 

 

	 	a)	 Confirm the Contract is a Simple Interest Contract 

 

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

  

	xvii)	 Prepayment 

  

	 	a)	 Confirm the contract contains the appropriate Prepayment Disclosures 

 

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

  

					
		  	Exh. A - 4	  	Asset Representations Review Agreement (SDART 2019-1)

 

 
  
 Santander
Consumer USA Agreed Upon Procedures 
  

 Representation 

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

Document 
 Retail Sale Contract 

Servicing System/Data Tape 
 Approved Contract Form List 

Procedures to be Performed 
  

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

  

	ii)	 Confirm the Contract is complete 

 

	 	a)	 Confirm that all lines in the contract are filled out appropriately 

 

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

  

	 	c)	 Confirm all lines on the contract are completed or properly left blank 

 

	iii)	 Confirm the Amount Financed is correctly calculated 

 

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

  

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

  

	iv)	 Confirm the Total Sale Price is correctly calculated 

 

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

  

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

  

	v)	 Confirm the Total of Payments is correctly calculated 

 

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

  

					
		  	Exh. A - 5	  	Asset Representations Review Agreement (SDART 2019-1)

 

 
  
 Santander
Consumer USA Agreed Upon Procedures 
  

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

  

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

  

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

  

	vi)	 Confirm the APR is correctly calculated 

 

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

 

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

  

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

  

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

  

					
		  	Exh. A - 6	  	Asset Representations Review Agreement (SDART 2019-1)

 

 
  
 Santander
Consumer USA Agreed Upon Procedures 
  

 Representation 

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

Documents 
 Retail Sale Contract 

Procedures to be Performed 
  

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

 

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

  

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

  

					
		  	Exh. A - 7	  	Asset Representations Review Agreement (SDART 2019-1)

 

 
  
 Santander
Consumer USA Agreed Upon Procedures 
  

 Representation 

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

Documents 
 Servicing System/Data Tape 

Title Documents 
 Procedures to be Performed 

 

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

 

	ii)	 Confirm the title documents show Santander Consumer USA or another Approved Party as the first lienholder

  

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

  

					
		  	Exh. A - 8	  	Asset Representations Review Agreement (SDART 2019-1)

 

 
  
 Santander
Consumer USA Agreed Upon Procedures 
  

 Representation 

e) No Default; No Waiver 
 Except for
payment delinquencies continuing for a period of not more than 30 days as of the Cut-Off Date, the records of the Servicer did not disclose that any default, breach, violation or event permitting acceleration
under the terms of the Receivable existed as of the Cut-Off Date or that any continuing condition that with notice or lapse of time, or both, would constitute a default, breach, violation or event permitting
acceleration under the terms of the Receivable had arisen as of the Cut-Off Date and the Seller has not waived any of the foregoing. 

Documents 
 Receivable File 

Servicing System/Data Tape 
 Procedures to be Performed

  

	i)	 Confirm there is no indication of a default, breach, violation or event that would permit acceleration
under the terms of the Receivable except for payment default within 30 days of the Cut-Off Date 

  

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

  

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

  

					
		  	Exh. A - 9	  	Asset Representations Review Agreement (SDART 2019-1)

 

 
  
 Santander
Consumer USA Agreed Upon Procedures 
  

 Representation 

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

Retail Sale Contract 
 Procedures to be Performed

  

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

  

	ii)	 If confirmed, then Test Pass 

  

					
		  	Exh. A - 10	  	Asset Representations Review Agreement (SDART 2019-1)

 

 
  
 Santander
Consumer USA Agreed Upon Procedures 
  

 Representation 

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

Documents 
 Retail Sale Contract 

Procedures to be Performed 
  

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

  

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

  

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

  

					
		  	Exh. A - 11	  	Asset Representations Review Agreement (SDART 2019-1)

 

 
  
 Santander
Consumer USA Agreed Upon Procedures 
  

 Representation 

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

Documents 
 Retail Sale Contract 

Receivable File 
 Servicing System 

Procedures to be Performed 
  

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

  

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

  

					
		  	Exh. A - 12	  	Asset Representations Review Agreement (SDART 2019-1)

 

 
  
 Santander
Consumer USA Agreed Upon Procedures 
  

 Representation 

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

Title Documents 
 Procedures to be Performed 

 

	i)	 Confirm the title documents show Santander Consumer USA or another Approved Party as the first lienholder

  

	ii)	 Review the servicing system and confirm the Pool ID in the system matches the Pool ID for the transaction
related to the deal 

  

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

  

					
		  	Exh. A - 13	  	Asset Representations Review Agreement (SDART 2019-1)

 

 
  
 Santander
Consumer USA Agreed Upon Procedures 
  

 Representation 

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

Documents 
 Contract 

Title Documents 
 Approved Contract Form List 

Procedures to be Performed 
  

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

 

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

 

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

 

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

  

					
		  	Exh. A - 14	  	Asset Representations Review Agreement (SDART 2019-1)

 

 
  
 Santander
Consumer USA Agreed Upon Procedures 
  

 Representation 

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

Documents 
 Contract 

Procedures to be Performed 
  

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

 

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

 

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

  

					
		  	Exh. A - 15	  	Asset Representations Review Agreement (SDART 2019-1)

 

 
  
 Santander
Consumer USA Agreed Upon Procedures 
  

 Representation 

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

Receivable File 
 Procedures to be Performed 

 

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

  

	ii)	 If confirmed, then Test Pass. 

  

					
		  	Exh. A - 16	  	Asset Representations Review Agreement (SDART 2019-1)

 

 
  
 Santander
Consumer USA Agreed Upon Procedures 
  

 Representation 

m) Early Payments 
 The Obligor on the
Receivable has made, or will make, the first two monthly payments under such Receivable. 
 Documents 

Servicing System/Data Tape 
 Procedures to be Performed

  

	i)	 Confirm that there is no indication that the Obligor did not make the first two monthly payments on the
Receivable by verifying that the payments made field in the Data Tape is at least two as of the Review Date. 

  

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

  

					
		  	Exh. A - 17	  	Asset Representations Review Agreement (SDART 2019-1)EX-10.1

 Exhibit 10.1 

SEPARATION AGREEMENT AND GENERAL RELEASE 

This Separation Agreement and General Release (the “Agreement”) dated as of February 20, 2019, is entered into by and
between Greggory H. Kalvin (hereinafter referred to as “Executive”) and Dine Brands Global, Inc., a Delaware Corporation, its affiliates and subsidiaries (hereinafter referred to as the “Corporation”). Throughout
this Agreement, Executive and the Corporation may be referred to collectively as the “parties”. 
 Recitals 

A.        Executive has been employed by the Corporation. Executive’s last day of employment by
the Corporation will be March 8, 2019 (the “Separation Date”). 

B.        Executive and the Corporation wish to enter into an Agreement to clarify and resolve any
disputes that may exist between them arising out of the employment relationship and its termination, and any continuing obligations of the parties to one another following the end of the employment relationship. 

C.        In consideration of the Corporation’s agreement to pay Executive a severance payment
set forth herein, the Corporation has asked Executive to waive any and all rights Executive may have in potential claims against the Corporation, except for those rights provided in this Agreement and Executive’s continuing right to enforce the
terms and provisions of this Agreement against the Corporation. The Corporation has advised Executive of Executive’s right to consult an attorney at Executive’s own expense prior to signing this Agreement and has provided Executive with 21
calendar days in which to consider this Agreement and seek legal assistance. Executive has either consulted an attorney of Executive’s choice or voluntarily elected not to consult legal counsel, and understands that except for Executive’s
rights preserved and provided for above and elsewhere in this Agreement, Executive is waiving all potential claims against the Corporation and its agents. 

D.        This Agreement is not and should not be construed as an admission or statement by either
party that it or any other party has acted wrongfully or unlawfully. Both parties expressly deny any wrongful or unlawful action and enter this Agreement for the sole purpose of clarifying and resolving any potential issues between them. 

E.        The Effective Date of this Agreement is defined in paragraph 10(d) hereof. Each of the
covenants and obligations set forth herein is contingent upon the occurrence of the Effective Date. 
 Agreement 

NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises contained below, it is agreed as follows: 

1.        Employment Ending Date.  Executive’s employment with the Corporation
will terminate effective on the Separation Date. Executive will have no further employment duties or responsibilities to the Corporation after the Separation Date. 

  
 A-1 

 2.        Payments and
Benefits.  In exchange for the promises contained in this Agreement, and so long as Executive does not revoke this Agreement: 

a.        Base Salary:  The Corporation shall pay to Executive the sum of $350,000,
representing 12 months of base salary, less applicable tax, withholdings and deductions required by law, as severance pay and in exchange for the promises, agreements, understandings and releases contained in this Agreement. This sum will be paid as
a lump sum through the Corporation’s payroll after the Effective Date, but not later than 30 days after the Effective Date. Executive understands that, under applicable law, no Corporation match of 401(k) contributions can be made based on the
separation payment. 
 b.        Pro Rata Bonus:  The Corporation agrees to pay
Executive an amount equal to Executive’s bonus under the annual incentive plan for the applicable fiscal year, prorated based on the portion of the performance period that has elapsed prior to the Separation Date, and based on actual
performance. Executive’s prorated target bonus is $35,000, which Executive acknowledges is the target amount that will be adjusted under the annual incentive plan according to actual performance of the Corporation. This pro rata bonus less
applicable tax, withholdings, and deductions required by law, shall be paid in accordance with the Corporation’s administration practices at the time the annual bonus would have been paid to the Executive had Executive remained employed. 

c.        Benefits:  All Executive’s benefits shall cease on Executive’s
last day of work except Executive’s medical, vision, and dental benefits coverage, if any, will end as of the last day of month of the Separation Date. In the event Executive elects COBRA coverage, the Corporation will pay 50% of the COBRA
premium cost for Executive and such dependent(s) as are designated as of the Separation Date for 12 months, or until Executive becomes eligible for benefits through another employer, whichever is earlier. To the extent that Executive becomes
eligible for benefits through another employer during this time, Executive agrees to give prompt written notice to the Corporation. The payment by the Corporation does not increase or otherwise affect the total number of months of coverage available
through COBRA. 
 d.        Outplacement Services:  The Corporation shall provide
standard outplacement services at the expense of the Corporation up to $5,000, from an outplacement firm selected by the Corporation. In order to receive outplacement services, Executive must begin utilizing the services within 90 days of the
Separation Date. 
 e.        Equity.  The Corporation agrees that the following
will vest on the Effective Date: 

	 	(1)	 5,247 stock options granted on March 3, 2017, and 4,814 stock options granted on February 22, 2018;
and 

	 	(2)	 Restricted stock award of 1,234 shares granted on March 3, 2017, 3,654 shares granted on April 17,
2017, and 1,200 shares granted on February 22, 2018. 

  
 A-2 

 Additionally, Executive shall be entitled to payouts for the 2017 – 2019 performance period and the
2018 – 2020 performance period under the Corporation’s cash long-term incentive plan based on actual performance through such performance periods. The Corporation shall make such payouts, if any, at the time the payouts would have been
paid to Executive had Executive remained employed by the Corporation through such date. Any payout shall be paid in accordance with the Corporation’s administration practices and shall be subject to any applicable tax, withholdings, and
deductions required by law. 
 Other than as set forth in this Subparagraph 2 (e), Executive acknowledges that Executive is not entitled to any other
unvested stock options, stock appreciation rights, restricted stock awards, restricted stock units, and any other equity or cash-based awards held by Executive as of the Separation Date. Except as provided in this Agreement, all restricted stock and
stock options and shall remain subject to the terms and conditions of the plans, grant notices and agreements pursuant to which they were awarded. Notwithstanding the above, any stock options held by the Executive shall remain exercisable until the
earlier of five years after the Effective Date or their original expiration. 
 The benefits described in (a) through (e) of this
Paragraph constitutes the “Separation Benefits.” Executive agrees to indemnify and hold the Corporation harmless from and against any claims made against the Corporation for any non-payment of
taxes by Executive. In addition to the Separation Benefits set forth above, Executive will receive all wages through the Separation Date separate and apart from this Agreement. 

3.        Valid Consideration.  The parties hereto acknowledge and agree that
Executive’s right to be paid the Separation Benefits identified in paragraph 2 is expressly conditioned on Executive signing this Agreement, and not thereafter revoking this Agreement. The parties further acknowledge and agree that the mutual
promises and covenants contained herein constitute good, valid and sufficient consideration for this Agreement. 

4.        Return of Corporation Property.  Executive covenants, represents and
warrants to the Corporation that on the Separation Date, Executive will return to the Corporation any and all materials and property of the Corporation of any type whatsoever (including, without limitation, any vehicles and vehicles’ keys,
mobile phones, office or other keys, access cards, identification badges, computer equipment, correspondence, tangible proprietary information or intellectual property, documents, records, notes, contracts, and other confidential or proprietary
materials) that are in Executive’s possession or control. 
 5.        Non-Disclosure of Confidential Information and Non-solicitation. 

(a)        Executive acknowledges that during the term of Executive’s employment with the
Corporation, Executive has had access to material intellectual property, trade secrets, proprietary and confidential information of the Corporation, including but not limited to, information concerning the Corporation’s services; products;
product formulas; recipes; business models; marketing; employees; franchisees; technology; consultants and experts; customer, dealer, vendor and partner data, including history, usage, pricing, preferences, incentives and rebate data for each;
business plans, records and affairs; business partners; methods of doing business; 

  
 A-3 

 
merchandising concepts, strategies and plans; financial matters; pricing information; ‘trade secrets’; and suppliers, as well as other information including but not limited to
information learned by Executive from employees, contractors or agents of the Corporation through inspection of the Corporation’s premises or financial statements, or that relates to the Corporation’s products, services, packaging,
designs, business plans, business opportunities, customers, dealers, clients, consultants, experts, finances, research, development, know-how, personnel, litigation, workouts, or third-party confidential
information disclosed to Executive by the Corporation, together with any material prepared by Executive which contains or otherwise relates to such information (the “Confidential Information”). However, notwithstanding the forgoing,
the following information shall be excluded from the above referenced definition of Confidential Information: any item of Confidential Information which (i) was publicly known at the time of its disclosure by the Corporation to Executive,
(ii) was already in the Executive’s possession at the time of its disclosure by the Corporation to Executive, (iii) was lawfully received by Executive from a third party without violation of any obligation of confidentiality to the
Corporation, (iv) becomes publicly known through no fault of the Executive, (v) is approved for Executive’s disclosure by written authorization of the Corporation, or (vi) is required to be disclosed pursuant to any applicable
law, rule, regulation or order of a court. 
 (b)        Executive hereby represents, warrants and
covenants that in any future employment or self-employment, Executive shall not disclose any Confidential Information, and shall refrain from any action or conduct which might reasonably or foreseeably be expected to compromise the confidentiality
or proprietary nature of Confidential Information. Further, Executive hereby represents, warrants and covenants that Executive will not use Confidential Information in a manner that is adverse to the interests of the Corporation, or in any manner
whatsoever without prior written approval of the Corporation in each instance. 
 (d)
        Executive acknowledges and agrees that breach of the covenants in this Paragraph 5 will irreparably harm the Corporation for which the Corporation may not have an adequate remedy at law. As such,
Executive agrees that the Corporation shall be entitled to any proper injunction, including but not limited to temporary, preliminary, final injunctions, temporary restraining orders, and temporary protective orders, to enforce said covenants in the
event of breach or threatened breach by Executive, in addition to any other remedies available to the Corporation at law or in equity. Executive further agrees that no bond or other security shall be required in obtaining such equitable relief and
hereby agrees to comply with an order of a court of competent jurisdiction, issuing such injunction and ordering specific performance thereof. The covenants contained in this Agreement are independent of any other obligations between the parties,
and the existence of any other claim or cause of action against the Corporation is not a defense to enforcement of said covenants by injunction. 

6.        Confidentiality of Separation Agreement;
Non-Disparagement. 
 (a)        Executive agrees to
keep the terms of this Agreement (including, but not limited to the Separation Benefits) completely confidential, and that Executive will not disclose any information concerning this Agreement or its terms to anyone other than Executive’s
immediate family, and legal counsel, and/or financial advisors, who will be informed of and bound by this 

  
 A-4 

 
confidentiality clause, or in response to a subpoena issued by a court of competent jurisdiction or as otherwise required by law. 

(b)        Executive shall not disparage the Corporation, its officers, directors, independent
contractors, and employees. 
 (c)        The Corporation will respond to requests for information
from prospective employers by stating Executive’s dates of employment and position held. 

7.        General Release of Claims.  Executive expressly waives any and all claims
against the Corporation and releases it, including, without limitation, each of its officers, directors, partners, members, stockholders, managers, employees, consultants, agents, attorneys, parent and subsidiary corporations, and representatives
(the “Corporation Releasees”), from any and all claims, demands, lawsuits, causes of action, obligations, and liabilities of whatever kind, which Executive may have or thinks Executive may have against the Corporation Releasees or
any of them based upon events or facts arising at any time on or before the Effective Date of this Agreement, including but not limited to, claims that relate to Executive’s employment and/or the separation of employment with the Corporation.
Executive agrees this general release of claims includes, but is not limited to, claims for breach of any implied or express contract or covenant; claims for promissory estoppel; claims of entitlement to any pay; claims of wrongful denial of
insurance and employee benefits; claims for wrongful termination, public policy violations, defamation, invasion of privacy, fraud, misrepresentation, emotional distress or other common law or tort matters; claims of harassment, retaliation or
discrimination based on age, race, color, religion, sex, national origin, ancestry, physical or mental disability, legally protected medical condition, genetic information, marital or family status, sexual orientation, gender identity or expression,
union activity, military status or veteran status, or any other status protected by law; claims based upon the California or United States Constitutions; any claims based on alleged restrictions on the Corporation’s right to terminate, not to
hire or promote employees, or on the Corporation’s ability to change an employee’s compensation or other terms and conditions of employment; and claims based on any federal, state or local law, including, without limitation: Title VII of
the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Equal Pay Act, 29 U.S.C. § 206(d)(1); the Americans with Disabilities Act; the Americans with Disabilities Act Amendments Act; the Labor Management Relations Act;
the Family and Medical Leave Act; the Employee Retirement Income Security Act; the Worker Adjustment and Retraining Notification Act (“WARN”); the California WARN Act; the California Fair Employment and Housing Act; the California Labor
Code; the California Family Rights Act, the California Constitution; the California Industrial Welfare Commission Wage Orders; and the California Government Code, as well as any amendments to those laws. Executive expressly understands that among
the various claims and rights being waived by Executive in this Agreement are those arising under the Age Discrimination in Employment Act (“ADEA”), as amended, and in that regard Executive specifically acknowledges that Executive has read
and understands the provisions of paragraph 10 below before signing this Agreement. 

8.        Exclusions From General Release/Additional Protections.  Excluded from the
General Release above are: (i) rights and claims which cannot be waived by law, including claims for workers’ compensation, unemployment compensation, and accrued and vested retirement benefits; (ii) claims arising after the Effective
Date of this Agreement; and (iii) claims 

  
 A-5 

 
for breach of the Agreement. Neither the General Release above nor anything else in this Agreement limits Executive’s rights to file a charge with an administrative agency (such as the U.S.
Equal Employment Opportunity Commission), provide information to an administrative agency, or participate in an agency investigation. The Exclusions and Protections contained in this paragraph 8 override any language to the contrary in any other
part of this Agreement. Executive is, however, waiving all rights to receive money or other individual relief in connection with an administrative charge or investigation, regardless of whether that charge or investigation was initiated by
Executive, on Executive’s behalf, on behalf of a group or class to which Executive purportedly belongs, or otherwise, provided, however, that Executive may accept bounty money properly awarded by the U.S. Securities and Exchange Commission.

 9.        Release of Unknown Claims.  It is the intention of Executive and the
Corporation that this Agreement is a General Release which shall be effective as a bar to each and every claim, demand, or cause of action it releases. Executive recognizes that Executive may have some claim, demand, or cause of action against the
Corporation of which the Executive is totally unaware and unsuspecting which Executive is giving up by execution of the General Release. It is the intention of the Executive in executing this Agreement that it will deprive Executive of each such
claim, demand or cause of action and prevent Executive from asserting it against the Corporation. In furtherance of this intention, Executive expressly waives any rights or benefits conferred by the provisions of Section 1542 of the Civil Code
of the State of California (and/or other similar provision(s) of any other jurisdiction), which provides as follows: 
 “A general
release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or his/her settlement with the
debtor.” 
 10.        Right of Revocation.  In compliance with the Older
Workers Benefit Protection Act (P.L. 101433), Executive does hereby acknowledge and agree as follows: 

(a)        That this Agreement does not purport to waive rights or claims that may arise from acts or
events occurring after the date that this Agreement is executed by the parties; 
 (b)        That
this Agreement specifically applies to any rights or claims Executive may have against the Corporation under the federal Age Discrimination in Employment Act of 1967, as amended; 

(c)        That the consideration provided for in this Agreement is in addition to that to which
Executive is already entitled; 
 (d)        That this Agreement shall be revocable by Executive for
a 7-day period following execution of this Agreement by Executive. Accordingly, this Agreement shall not become effective or enforceable until the expiration of the
7-day revocation period (“Effective Date”); and 

(e)        That Executive, having carefully read this Agreement and knowing the contents hereof,
freely and voluntarily consents to all the terms and conditions herein, understands the 

  
 A-6 

 
final and binding effect of this Agreement, has been advised of Executive’s right to and has been given a chance to consult with and review this Agreement with an attorney of
Executive’s choice prior to signing this Agreement, and has been given a period of 21 days within which to consider whether to sign this Agreement. In the event that Executive chooses to waive this 21 day period, Executive acknowledges that
Executive was given a reasonable period of time within which to consider this Agreement and that Executive’s waiver was made freely and voluntarily and without duress or any coercion by any other person, including anyone at the Corporation or
the Corporation Releasees. 
 11.        Payment of Moneys Owed.  The parties
acknowledge and agree that the Corporation has paid Executive or shall pay Executive all wages or salary earned, including any accrued, but unused or unpaid vacation pay according to the Corporation policy and eligibility requirements, business
expenses and other benefits, if any, to which Executive was entitled during employment, through the Separation Date. Executive shall provide the Corporation with final expense report(s) no later than 7 days before the Separation Date, and the
Corporation shall reimburse Executive for such expenses, in accordance with the Corporation’s policy. Executive is entitled to this payment regardless of whether Executive signs this Agreement. 

12.        Section 409A.  The payments made under this Agreement are intended to
comply with section 409A of the Internal Revenue Code of 1986, as amended, and applicable guidance issued thereunder (“Section 409A”). Payments made under this Agreement will be interpreted and construed, to the extent possible, to be
distributed in the short-term deferral period, as defined under Treasury Regulation section 1.409A-1(b)(4), or the separation pay exemption, as provided in Treasury Regulation section 1.409A-1(b)(9). For purposes of this Agreement, the phrase “Separation Date” means the date in which Executive’s “separation from service,” as defined in Treasury Regulation section 1.409A-1(h), occurred. For purposes of this Agreement, each payment made and benefits provided under this Agreement is hereby designated as a separate payment, and will not collectively be treated as a single
payment, as provided in Treasury Regulation section 1.409A-2(b)(2)(iii). 

13.        No Assignment.  Executive represents and warrants that Executive
has made no assignment or other transfer, and covenants that Executive will make no assignment or other transfer, of any interest in any Claim which Executive may have against the Corporation Releasees, or any of them. 

14.        Indemnification of Released Parties.  Executive agrees to indemnify and
hold harmless the Corporation Releasees, and each of them, against any loss, claim, demand, damages, expenses, or any other liability whatsoever, including reasonable attorneys’ fees and costs resulting from: (a) any breach of this release
by Executive or Executive’s successors in interest; (b) any assignment or transfer, or attempted assignment or transfer, of any claims released hereunder; or (c) any action or proceeding brought by Executive or Executive’s
successors in interest, or any other, if such action or proceeding arises out of, is based upon, or is related to any claims, demands, or causes of action released herein; provided, however, that this indemnification provision shall
not apply to any challenge by Executive of the release of claims under the ADEA, Title VII, or similar discrimination laws, and any right of the released parties to recover attorneys’ fees and/or expenses for such breach shall be governed by
applicable law. 

  
 A-7 

 
It is the intention of the parties that this indemnity does not require payment as a condition precedent to recovery by any of the Corporation Releasees under this indemnity 

15.        No
On-the-Job Injury.  Executive represents and warrants that Executive has not experienced a job-related illness or
injury during employment with the Corporation for which Executive has not already filed a claim, and that Executive has disclosed to the Corporation any pending or previously filed claim relating to an on-the-job injury or illness. 

16.        Cooperation.  Executive agrees to cooperate fully with the Corporation and
its subsidiaries and affiliates in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Corporation or its subsidiaries or affiliates which relate to events or
occurrences that transpired while Executive was employed by the Corporation; and in connection with any investigation or review by any federal, state or local regulatory, quasi-regulatory or self-governing authority (including, without limitation,
the Securities and Exchange Commission) as any such investigation or review relates to events or occurrences that transpired while Executive was employed by the Corporation. Executive’s full cooperation shall include, but not be limited to,
being available to meet and speak with officers or employees of the Corporation and/or its counsel at reasonable times and locations, executing accurate and truthful documents, appearing at the Corporation’s request as a witness at depositions,
trials or other proceedings without the necessity of a subpoena, with reasonable advance notice, and taking such other actions as may reasonably be requested by of the Corporation and/or its counsel to effectuate the foregoing. In requesting such
services, the Corporation will consider other commitments that Executive may have at the time of the request, and Executive’s availability and obligations under this Section shall in all instances reasonably be subject to Executive’s other
commitments. The Corporation agrees to reimburse Executive for any reasonable, out-of-pocket travel, hotel and meal expenses incurred in connection with Executive’s
performance of obligations pursuant to this Section for which Executive has obtained prior, written approval from the Corporation, and the Corporation shall pay Executive $165 per hour for any services performed by Executive at the request of the
Corporation pursuant to this Paragraph. 
 17.        Truthful Testimony; Notice of Request for
Testimony.  Nothing in this Agreement is intended to or shall preclude either party from providing testimony that such party reasonably and in good faith believes to be truthful in response to a valid subpoena, court order, regulatory
request or other judicial, administrative or legal process or otherwise as required by law. Executive shall notify the Corporation in writing as promptly as practicable after receiving any such request of the anticipated testimony and at least 10
days prior to providing such testimony (or, if such notice is not possible under the circumstances, with as much prior notice as is possible) to afford the Corporation a reasonable opportunity to challenge the subpoena, court order or similar legal
process. Moreover, nothing in this Agreement shall be construed or applied so as to limit any person from providing candid statements that such party reasonably and in good faith believes to be truthful to any governmental or regulatory body or any
self-regulatory organization. 
 18.        Tax Indemnification.  It is understood
between the parties that Executive has not relied upon any representation, express or implied, made by the Corporation or any of its representatives as to the tax consequences of this Agreement and that Executive releases the

  
 A-8 

 
Corporation Releasees from any and all liability in connection with any such tax consequences. The Corporation’s payments to Executive described above in paragraph 2 represent a compromise
of any and all of Executive’s known or unknown claims against the Corporation Releasees. Executive agrees that any liability for state or federal income tax payments or penalties arising from said payments shall be Executive’s sole
responsibility. Executive agrees to indemnify and to hold harmless the Corporation Releasees from any and all actions, claims or demands brought by any tax or other authority based upon Executive’s tax obligations arising from payments to be
made pursuant to this Agreement, and Executive agrees specifically to reimburse the Corporation for any taxes, interest and penalties paid by the Corporation and for the costs, legal fees, and any other expenses incurred by the Corporation as a
result of any such actions, claims or demands. 
 19.        Arbitration.  Except
for an action for injunctive relief to enforce the terms of this Agreement, any dispute concerning the application of this Agreement, and any other dispute from time to time between Executive and the Corporation, shall be settled by arbitration, to
take place in Los Angeles, California before an arbitrator selected by the parties. Unless otherwise provided by law, the parties will each share 50% of the arbitration costs and fees. The decision of the arbitrator shall be final and conclusive,
and the parties waive the right to trial de novo or appeal. 
 PLEASE READ CAREFULLY. THIS AGREEMENT INCLUDES THE RELEASE OF ALL KNOWN
AND UNKNOWN CLAIMS. 
 20.        Binding Agreement.  This Agreement shall be
binding upon each party and its and his or her heirs, administrators, representatives, executors, successors and assigns, and shall inure to the benefit of the Corporation Releasees and each of them, and to their heirs, administrators,
representatives, executors, successors, and assigns. 
 21.        Contract
Interpretation.  The language of this Agreement shall not be construed for or against any particular party. The section headings are inserted as a matter of convenience and in no way define, limit or describe the scope of such section
or affect the interpretation of this Agreement. The invalidity or enforceability, in whole or in part, of any provision of this Agreement will not affect the validity or enforceability of any other provision. In the event of a conflict or
inconsistency between the terms of this Agreement and any other agreement between the parties, the terms of this Agreement shall control. 

22.        Entire Agreement/Survival.  Executive acknowledges that no promises or
representations other than those set forth in this Agreement have been made to Executive to induce Executive to sign this Agreement, and that Executive only has relied on promises expressly stated herein. This Agreement sets forth the entire
understanding between Executive and the Corporation and supersedes any prior agreements or understandings, express or implied, pertaining to the terms of Executive’s employment with the Corporation and the termination of the employment
relationship. The provisions of this Agreement shall survive the Separation Date and the termination of Executive’s employment. 

  
 A-9 

 23.        Governing Law.  This
Agreement shall be governed by, and construed and enforced in accordance with, the internal laws of the State of California, without regard to its conflict of laws provisions. 

24.        Waiver.  No purported waiver of a breach or default will be valid unless
specifically stated in writing by the waiving party. No such waiver waives any subsequent breach or default of the same or any other term in this Agreement. 

25.        No Further Amendment.  No amendment or modification of this Agreement will
be binding unless executed in writing by the parties or their permitted successors or assigns. No course of conduct or course of performance under this Agreement or any other agreement between the parties will be deemed to amend or modify this
Agreement. 
 26.        Attorney’s Fees.  Executive acknowledges and agrees
that Executive is solely responsible for paying any attorneys’ fees and costs that Executive has incurred in connection with this matter. The parties also agree that execution of this Agreement does not make Executive the “substantially
prevailing party” or “prevailing party” under any statute or regulation, and Executive agrees not to seek an award of attorneys’ fees or costs from the Corporation in any forum. However, should legal action be necessary to
enforce or interpret this Agreement, the prevailing party shall be entitled to reasonable attorney’s fees and costs. 

27.        Counterparts.  This Agreement may be executed in any number of
counterparts and by any electronic means, each of which shall be deemed an original and all of which, when taken together, shall constitute one and the same agreement. 

The parties have executed this Agreement, consisting of 10 pages, including this page, as of the dates indicated below. 

 

									
	Dated: February 20, 2019	 		 	DINE BRANDS GLOBAL, INC. the “Corporation”
					
		 		 	By:	 	/s/ Gregory Bever	 	
					
		 		 	Its:	 	Senior Vice President, Chief People Officer	 	
		 		 		 		 	
	Dated: February 20, 2019	 		 		 		 	
		 		 	 Greggory H. Kalvin, the “Executive”
	 	
				
	 	 	 	 	 /s/ Greggory H. Kalvin
	 	 

  
 A-10

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