Document:

EX-10.5

Exhibit 10.5

Goldman
Sachs Mitsui Marine Derivative Products L.P. | 85 Broad Street | New York, New York 10004 | Tel: 212-902-1000

SWAP 1 CONFIRMATION (A-2b)

May 19, 2008

	 	 	 
	To:

	 	DaimlerChrysler Auto Trust 2008-B
	Contact:

	 	c/o BNYM (Delaware)
	 

	 	100 White Clay Center, Route 273
	 

	 	P.O. Box 6995
	 

	 	Newark, Delaware 19714
	 

	 	Attention: Corporate Trust Administration
	 

	 	Facsimile: +1 (302) 453-4400
	 
	 	 
	Copy:

	 	The Bank of New York
	 

	 	101 Barclay Street, 8W
	 

	 	New York, NY 10286
	 

	 	Attention: Asset Backed Securities Unit
	 

	 	email: jbobko@bankofny.com
	 
	 	 
	 

	 	and
	 
	 	 
	 

	 	DaimlerChrysler Financial Services Americas LLC
	 

	 	CIMS 405-25-10
	 

	 	27777 Inkster Road
	 

	 	Farmington Hills, MI 48335
	 

	 	Attention: Paul Colenso
	 

	 	Facsimile: +1 (248) 427-4267
	 
	 	 
	 

	 	and
	 
	 	 
	 

	 	DaimlerChrysler Financial Services Americas LLC
	 

	 	CIMS 405-25-10
	 

	 	27777 Inkster Road
	 

	 	Farmington Hills, MI 48335
	 

	 	Attention: Q. Gwynn Lam, Assistant General Counsel
	 

	 	Facsimile: +1 (248) 427-2550
	 
	 	 
	From:

	 	Goldman Sachs Mitsui Marine Derivative Products, L.P.
	Contact:

	 	85 Broad Street
	 

	 	New York, New York 10004
	 

	 	Attention: Swap Administration
	 

	 	Facsimile: +1 (212) 902-1000

Re:     Interest Rate Swap — A-2b Notes, Reference No LTAA1714197896.0.0.0

Ladies and Gentlemen:

          The purpose of this revised letter agreement is to confirm the terms and conditions of the
Swap Transaction entered into between Goldman Sachs Mitsui Marine Derivative Products, L.P. (“Party

 

 

A”) and DaimlerChrysler Auto Trust 2008-B (“Party B”) on the Trade Date listed below (the
"Transaction”). This communication supersedes and replaces all prior communication between the
parties hereto with respect to the Transaction described below. This letter constitutes a
"Confirmation” as referred to in the Agreement specified below.

          The definitions and provisions contained in the 2006 ISDA Definitions (as published by the
International Swaps and Derivatives Association, Inc.) are incorporated into this Confirmation.
For these purposes, all references in those Definitions to a “Swap Transaction” shall be deemed to
apply to the Transaction referred to herein. In the event of any inconsistency between those
Definitions and this Confirmation, this Confirmation will govern.

          1. This Confirmation supplements, forms part of, and is subject to, the 1992 ISDA Master
Agreement (Multicurrency-Cross Border), including the Schedule thereto, dated as of May 19, 2008,
as amended and supplemented from time to time (the “Agreement”) between you and us. All provisions
contained in the Agreement govern this Confirmation except as expressly modified below.

          2. The terms of the particular Transaction to which this Confirmation relates are as follows:

	 	 	 
	Party A:

	 	Goldman Sachs Mitsui Marine Derivative Products, L.P.
	 
	 	 
	Party B:

	 	DaimlerChrysler Auto Trust 2008-B
	 
	 	 
	Trade Date:

	 	May 5, 2008
	 
	 	 
	Effective Date:

	 	May 19, 2008
	 
	 	 
	Notional Amount:

	 	For the first Calculation Period, the Notional
Amount of this Transaction for purposes of
calculating payments due by either party on the
first Payment Date will be $370,000,000.00. With
respect to any subsequent Calculation Period up
through and including the Calculation Period ending
on but excluding July 8, 2011 the Notional Amount
will be the Note Balance for the A-2b Notes, after
giving effect to all amounts distributed as of the
Payment Date that is the first day of such
Calculation Period, as stated on the Distribution
Statement to Noteholders relating to such Payment
Date (the “Actual Balance”). Party B shall
determine the Actual Balance and shall inform Party
A of such determination on such Payment Date. For
the avoidance of doubt, after the first Calculation
Period, Party B shall notify Party A on each
Floating Rate Payer Payment Date of the Actual
Balance, determined in accordance with the foregoing
sentence, relating to the Notional Amount that
relates to the next Floating Rate Payer Payment
Date.
	 
	 	 
	 

	 	For the avoidance of doubt, the Notional Amount
shall not be reduced as a result of a liquidation of
Collateral following an “Event of Default” (as
defined in the Indenture).

2

 

	 	 	 
	     Termination Date:

	 	The earlier of (i) July 8, 2011, (x) not subject to
adjustment with respect to the Fixed Rate Payer
payment obligations and (y) subject to adjustment in
accordance with the Following Business Day
Convention with respect to the Floating Rate Payer
payment obligations or (ii) the date on which the
Notional Amount is equal to zero, subject to
adjustment in accordance with the Modified Following
Business Day Convention.
	 
	 	 
	Fixed Amounts
	 	 
	 
	 	 
	     Fixed Rate Payer:

	 	Party B.
	 
	 	 
	     Fixed Rate Payer Payment Date:

	 	The 8th day of each calendar month,
commencing June 9, 2008, and ending on the
Termination Date, subject to adjustment in
accordance with the Modifed Following Business Day
Convention.
	 
	 	 
	     Fixed Rate:

	 	4.071%.
	 
	 	 
	      Fixed Rate Day Count Fraction:

	 	30/360
	 
	 	 
	     Fixed Rate Period End Dates:

	 	No Adjustment.
	 
	 	 
	Floating Amounts
	 	 
	 
	 	 
	     Floating Rate Payer:

	 	Party A.
	 
	 	 
	     Floating Rate Payer Payment Dates:

	 	The 8th day of each calendar month,
commencing June 9, 2008, and ending on the
Termination Date, subject to adjustment in
accordance with the Modified Following Business Day
Convention.
	 
	 	 
	     Floating Rate for the initial Calculation Period:

	 	(The Linear Interpolation of USD-LIBOR-BBA with a
Designated Maturity of 2 weeks and USD-LIBOR-BBA
with a Designated Maturity of 1 month) plus Floating
Rate Spread.
	 
	 	 
	     Floating Rate Option:

	 	USD-LIBOR-BBA.
	 
	 	 
	     Floating Rate Spread:

	 	Plus 0.93%
	 
	 	 
	     Designated Maturity:

	 	One month.
	 
	 	 
	     Floating Rate Day Count Fraction:

	 	Actual/360.

3

 

	 	 	 
	     Reset Dates:

	 	The first day of each Floating Rate Payer
Calculation Period.
	 
	 	 
	     Floating Rate Period End Dates:

	 	Adjusted in accordance with the Modified Following
Business Day Convention.
	 
	 	 
	     Business Days:

	 	New York

4

 

3. Account Details

	 	 	 
	Payments to Party A:

	 	JPMorgan
	 

	 	New York, New York
	 

	 	ABA No.: 021000021
	 

	 	Account No.: 9301034733
	 

	 	Entity Name: Goldman Sachs Mitsui Marine
	 

	 	Derivative Products, L.P.
	 
	 	 
	Payments to Party B:

	 	Citibank, N.A.
	 

	 	New York, New York
	 

	 	ABA No.: 021000089
	 

	 	Account No.: 107459
	 

	 	Ref: DCAT 2008-B Deposit A/C
	 
	 	 
	Party A Operations Contact:

	 	Goldman Sachs Capital Markets, L.P.
	 

	 	85 Broad Street
	 

	 	New York, New York 10004
	 

	 	Attention: Swap Administration
	 

	 	Telephone: +1 (212) 902-1000
	 

	 	Telefax:      +1 (212) 902-5692
	 
	 	 
	Party B Operations Contact:

	 	Citibank, N.A.
	 

	 	Attention: Cirino Emanuele
	 

	 	Telephone: +1 (212) 816-5614
	 

	 	Telefax:      +1 (212) 816-5527

5

 

          Please confirm that the foregoing correctly sets forth the revised terms of our agreement by
executing this Confirmation and returning it to us.

	 	 	 	 	 	 	 
	 	 	Best Regards,	 	 
	 
	 	 	 	 	 	 
	 	 	GOLDMAN SACHS MITSUI MARINE DERIVATIVE PRODUCTS, L.P.
	 
	 	 	 	 	 	 
	 	 	By: GSMMDPGP, INC.,

its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Christina A. Pascual	 	 
	 

	 	 	 	 

Name: Christina A. Pascual
	 	 
	 

	 	 	 	Title: Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	DAIMLERCHRYSLER AUTO TRUST 2008-B
	 
	 	 	 	 	 	 
	 	 	By: BNYM (DELAWARE)

not in its individual capacity but solely as Owner Trustee
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James Ambagis	 	 
	 

	 	 	 	 

Name: James Ambagis
	 	 
	 

	 	 	 	Title: Assistant Vice President	 	 

GS/DCAT 2008-B SWAP 1 CONFIRMATION (A-2b)EX-10.6

  Exhibit 10.6

Goldman
Sachs Mitsui Marine Derivative Products L.P. | 85 Broad Street | New York, New York 10004 | Tel: 212-902-1000

SWAP 1 CONFIRMATION (A-3b)

May 19, 2008

	 	 	 
	To:

	 	DaimlerChrysler Auto Trust 2008-B
	Contact:

	 	c/o BNYM (Delaware)
	 

	 	100 White Clay Center, Route 273
	 

	 	P.O. Box 6995
	 

	 	Newark, Delaware 19714
	 

	 	Attention: Corporate Trust Administration
	 

	 	Facsimile: +1 (302) 453-4400
	 
	 	 
	Copy:

	 	The Bank of New York
	 

	 	101 Barclay Street, 8W
	 

	 	New York, NY 10286
	 

	 	Attention: Asset Backed Securities Unit
	 

	 	email: jbobko@bankofny.com
	 
	 	 
	 

	 	and
	 
	 	 
	 

	 	DaimlerChrysler Financial Services Americas LLC
	 

	 	CIMS 405-25-10
	 

	 	27777 Inkster Road
	 

	 	Farmington Hills, MI 48335
	 

	 	Attention: Paul Colenso
	 

	 	Facsimile: +1 (248) 427-4267
	 
	 	 
	 

	 	and
	 
	 	 
	 

	 	DaimlerChrysler Financial Services Americas LLC
	 

	 	CIMS 405-25-10
	 

	 	27777 Inkster Road
	 

	 	Farmington Hills, MI 48335
	 

	 	Attention: Q. Gwynn Lam, Assistant General Counsel
	 

	 	Facsimile: +1 (248) 427-2550
	 
	 	 
	From:

	 	Goldman Sachs Mitsui Marine Derivative Products, L.P.
	Contact:

	 	85 Broad Street
	 

	 	New York, New York 10004
	 

	 	Attention: Swap Administration
	 

	 	Facsimile: +1 (212) 902-1000

Re:     Interest Rate Swap — A-3b Notes, Reference No LTAA1714197899.0.0.0

Ladies and Gentlemen:

          The purpose of this revised letter agreement is to confirm the terms and conditions of the
Swap Transaction entered into between Goldman Sachs Mitsui Marine Derivative Products, L.P. (“Party

 

 

     A”) and DaimlerChrysler Auto Trust 2008-B (“Party B”) on the Trade Date listed below (the
"Transaction”). This communication supersedes and replaces all prior communication between the
parties hereto with respect to the Transaction described below. This letter constitutes a
"Confirmation” as referred to in the Agreement specified below.

          The definitions and provisions contained in the 2006 ISDA Definitions (as published by the
International Swaps and Derivatives Association, Inc.) are incorporated into this Confirmation.
For these purposes, all references in those Definitions to a “Swap Transaction” shall be deemed to
apply to the Transaction referred to herein. In the event of any inconsistency between those
Definitions and this Confirmation, this Confirmation will govern.

          1. This Confirmation supplements, forms part of, and is subject to, the 1992 ISDA Master
Agreement (Multicurrency-Cross Border), including the Schedule thereto, dated as of May 19, 2008,
as amended and supplemented from time to time (the “Agreement”) between you and us. All provisions
contained in the Agreement govern this Confirmation except as expressly modified below.

          2. The terms of the particular Transaction to which this Confirmation relates are as follows:

	 	 	 
	Party A:

	 	Goldman Sachs Mitsui Marine Derivative Products, L.P.
	 
	 	 
	Party B:

	 	DaimlerChrysler Auto Trust 2008-B
	 
	 	 
	Trade Date:

	 	May 5, 2008
	 
	 	 
	Effective Date:

	 	May 19, 2008
	 
	 	 
	Notional Amount:

	 	For the first Calculation Period, the Notional
Amount of this Transaction for purposes of
calculating payments due by either party on the
first Payment Date will be $105,000,000.00. With
respect to any subsequent Calculation Period up
through and including the Calculation Period ending
on but excluding September 10, 2012, the Notional
Amount will be the Note Balance for the A-3b Notes,
after giving effect to all amounts distributed as of
the Payment Date that is the first day of such
Calculation Period, as stated on the Distribution
Statement to Noteholders relating to such Payment
Date (the “Actual Balance”). Party B shall
determine the Actual Balance and shall inform Party
A of such determination on such Payment Date. For
the avoidance of doubt, after the first Calculation
Period, Party B shall notify Party A on each
Floating Rate Payer Payment Date of the Actual
Balance, determined in accordance with the foregoing
sentence, relating to the Notional Amount that
relates to the next Floating Rate Payer Payment
Date.
	 

	 	For the avoidance of doubt, the Notional Amount
shall not be reduced as a result of a liquidation of
Collateral following an “Event of Default” (as
defined in the Indenture).

2

 

	 	 	 
	     Termination Date:

	 	The earlier of (i) September 10, 2012, (x) not
subject to adjustment with respect to the Fixed Rate
Payer payment obligations and (y) subject to
adjustment in accordance with the Following Business
Day Convention with respect to the Floating Rate
Payer payment obligations or (ii) the date on which
the Notional Amount is equal to zero, subject to
adjustment in accordance with the Modifed Following
Business Day Convention.
	 
	 	 
	Fixed Amounts
	 	 
	 
	 	 
	     Fixed Rate Payer:

	 	Party B.
	 
	 	 
	     Fixed Rate Payer
	 	 
	     Payment Date:

	 	The 8th day of each calendar month,
commencing June 9, 2008, and ending on the
Termination Date, subject to adjustment in
accordance with the Modifed Following Business Day
Convention.
	 
	 	 
	     Fixed Rate:

	 	5.015%.
	 
	 	 
	     Fixed Rate DayCount Fraction:

	 	30/360
	 
	 	 
	     Fixed Rate Period End Dates:

	 	No Adjustment.
	 
	 	 
	Floating Amounts
	 	 
	 
	 	 
	     Floating Rate Payer:

	 	Party A.
	 
	 	 
	     Floating Rate Payer Payment Dates:

	 	The
8th day of each calendar month, commencing June 9, 2008, and ending on the
Termination Date, subject to adjustment in
accordance with the Modified Following Business Day
Convention.
	 
	 	 
	     Floating Rate for the initial Calculation Period:

	 	(The Linear Interpolation of USD-LIBOR-BBA with a
Designated Maturity of 2 weeks and USD-LIBOR-BBA
with a Designated Maturity of 1 month) plus Floating
Rate Spread.
	 
	 	 
	     Floating Rate Option:

	 	USD-LIBOR-BBA.
	 
	 	 
	     Floating Rate Spread:

	 	Plus 1.48%
	 
	 	 
	     Designated Maturity:

	 	One month.
	 
	 	 
	     Floating Rate DayCount Fraction:

	 	Actual/360.

3

 

	 	 	 
	     Reset Dates:

	 	The first day of each Floating Rate Payer
Calculation Period.
	 
	 	 
	     Floating Rate Period End Dates:

	 	Adjusted in accordance with the Modified Following
Business Day Convention.
	 
	 	 
	     Business Days:

	 	New York

4

 

3. Account Details

	 	 	 
	Payments to Party A:

	 	JPMorgan
	 

	 	New York, New York
	 

	 	ABA No.: 021000021
	 

	 	Account No.: 9301034733
	 

	 	Entity Name: Goldman Sachs Mitsui Marine
	 

	 	Derivative Products, L.P.
	 
	 	 
	Payments to Party B:

	 	Citibank, N.A.
	 

	 	New York, New York
	 

	 	ABA No.: 021000089
	 

	 	Account No.: 107459
	 

	 	Ref: DCAT 2008-B Deposit A/C
	 
	 	 
	Party A Operations Contact:

	 	Goldman Sachs Capital Markets, L.P.
	 

	 	85 Broad Street
	 

	 	New York, New York 10004
	 

	 	Attention: Swap Administration
	 

	 	Telephone: +1 (212) 902-1000
	 

	 	Telefax:      +1 (212) 902-5692
	 
	 	 
	Party B Operations Contact:

	 	Citibank, N.A.
	 

	 	Attention: Cirino Emanuele
	 

	 	Telephone: +1 (212) 816-5614
	 

	 	Telefax:      +1 (212) 816-5527

5

 

          Please confirm that the foregoing correctly sets forth the revised terms of our agreement by
executing this Confirmation and returning it to us.

	 	 	 	 	 	 	 
	 	 	Best Regards,	 	 
	 
	 	 	 	 	 	 
	 	 	GOLDMAN SACHS MITSUI MARINE DERIVATIVE PRODUCTS, L.P.
	 
	 	 	 	 	 	 
	 	 	By: GSMMDPGP, INC.,

its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Christina A. Pascual	 	 
	 

	 	 	 	 

Name: Christina A. Pascual
	 	 
	 

	 	 	 	Title: Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	DAIMLERCHRYSLER AUTO TRUST 2008-B
	 
	 	 	 	 	 	 
	 	 	By: BNYM (DELAWARE)

not in its individual capacity but solely as Owner Trustee
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James Ambagis	 	 
	 

	 	 	 	 

Name: James Ambagis
	 	 
	 

	 	 	 	Title: Assistant Vice President	 	 

GS/DCAT 2008-B SWAP 1 CONFIRMATION (A-3b)

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