Document:

EX-10.4

 Exhibit 10.4 
  

 
  

SERVICING AGREEMENT 
 CARVANA AUTO
RECEIVABLES TRUST 2022-P2, 
 as Issuer 

and 
 CARVANA AUTO RECEIVABLES
GRANTOR TRUST 2022-P2, 
 as Grantor Trust 

and 
 COMPUTERSHARE TRUST COMPANY,
NATIONAL ASSOCIATION, 
 as Indenture Trustee 

and 
 BRIDGECREST CREDIT COMPANY,
LLC, 
 as Servicer 
 and 

VERVENT INC., 
 as Backup Servicer

  
  

Dated as of May 25, 2022 
  

 
  

 
  

CRVNA 2022-P2 Servicing Agreement 

 TABLE OF CONTENTS 

 

							
	 	  	Page	 
	 ARTICLE I DEFINITIONS AND USAGE 
	  	 	1	 
	 SECTION 1.1
	 	DEFINITIONS	  	 	1	 
	 ARTICLE II ADMINISTRATION AND SERVICING OF RECEIVABLES AND TRUST PROPERTY 
	  	 	2	 
	 SECTION 2.1
	 	DUTIES OF SERVICER	  	 	2	 
	 SECTION 2.2
	 	COLLECTION OF RECEIVABLE PAYMENTS	  	 	3	 
	 SECTION 2.3
	 	REALIZATION UPON RECEIVABLES	  	 	5	 
	 SECTION 2.4
	 	MAINTENANCE OF SECURITY INTERESTS IN FINANCED VEHICLES	  	 	6	 
	 SECTION 2.5
	 	ADDITIONAL COVENANTS OF SERVICER	  	 	6	 
	 SECTION 2.6
	 	INDEMNIFICATION UPON BREACH	  	 	7	 
	 SECTION 2.7
	 	SERVICING FEE	  	 	7	 
	 SECTION 2.8
	 	SERVICER’S CERTIFICATE; ASSET-LEVEL DATA	  	 	8	 
	 SECTION 2.9
	 	ANNUAL OFFICER’S CERTIFICATE; NOTICE OF SERVICING TERMINATION EVENT	  	 	11	 
	 SECTION 2.10
	 	SERVICER EXPENSES	  	 	12	 
	 SECTION 2.11
	 	ANNUAL REGISTERED PUBLIC ACCOUNTING FIRM ATTESTATION REPORT	  	 	12	 
	 SECTION 2.12
	 	EXCHANGE ACT FILINGS	  	 	12	 
	 ARTICLE III DISTRIBUTIONS; ACCOUNTS
	  	 	12	 
	 SECTION 3.1
	 	DEPOSITORY ACCOUNTS; POST-OFFICE BOXES	  	 	12	 
	 SECTION 3.2
	 	REMITTANCES	  	 	13	 
	 SECTION 3.3
	 	ADDITIONAL DEPOSITS AND PAYMENTS	  	 	13	 
	 ARTICLE IV THE SERVICER
	  	 	13	 
	 SECTION 4.1
	 	REPRESENTATIONS AND WARRANTIES OF THE SERVICER	  	 	13	 
	 SECTION 4.2
	 	INDEMNITIES OF SERVICER	  	 	14	 
	 SECTION 4.3
	 	LIMITATION ON LIABILITY OF SERVICER AND OTHERS	  	 	16	 
	 SECTION 4.4
	 	DELEGATION OF DUTIES	  	 	17	 
	 SECTION 4.5
	 	THE SERVICER NOT TO RESIGN AS SERVICER	  	 	17	 
	 SECTION 4.6
	 	SERVICER MAY OWN NOTES AND CERTIFICATES	  	 	17	 

  

					
		 	i	  	 CRVNA 2022-P2 Servicing Agreement

 TABLE OF CONTENTS 

 

							
	 	  	Page	 
	 ARTICLE V REPLACEMENT OF SERVICER
	  	 	18	 
	 SECTION 5.1
	 	REPLACEMENT OF SERVICER	  	 	18	 
	 SECTION 5.2
	 	NOTIFICATION TO NOTEHOLDERS AND CERTIFICATEHOLDERS	  	 	20	 
	 ARTICLE VI OPTIONAL PURCHASE; TERMINATION DATE
	  	 	20	 
	 SECTION 6.1
	 	OPTIONAL PURCHASE OF TRUST ESTATE	  	 	20	 
	 SECTION 6.2
	 	TERMINATION DATE	  	 	21	 
	 ARTICLE VII MISCELLANEOUS PROVISIONS
	  	 	21	 
	 SECTION 7.1
	 	AMENDMENT	  	 	21	 
	 SECTION 7.2
	 	PROTECTION OF TITLE	  	 	22	 
	 SECTION 7.3
	 	NOTICES, ETC.	  	 	23	 
	 SECTION 7.4
	 	CHOICE OF LAW	  	 	23	 
	 SECTION 7.5
	 	HEADINGS	  	 	23	 
	 SECTION 7.6
	 	COUNTERPARTS	  	 	23	 
	 SECTION 7.7
	 	WAIVERS	  	 	24	 
	 SECTION 7.8
	 	ENTIRE AGREEMENT	  	 	24	 
	 SECTION 7.9
	 	SEVERABILITY OF PROVISIONS	  	 	24	 
	 SECTION 7.10
	 	BINDING EFFECT	  	 	24	 
	 SECTION 7.11
	 	CUMULATIVE REMEDIES	  	 	24	 
	 SECTION 7.12
	 	NONPETITION COVENANT	  	 	24	 
	 SECTION 7.13
	 	SUBMISSION TO JURISDICTION; WAIVER OF JURY TRIAL	  	 	24	 
	 SECTION 7.14
	 	LIMITATION OF LIABILITY	  	 	25	 
	 SECTION 7.15
	 	THIRD-PARTY BENEFICIARIES	  	 	26	 
	 SECTION 7.16
	 	INFORMATION REQUESTS	  	 	26	 

  

  

					
		 	ii	  	CRVNA 2022-P2 Servicing Agreement

 This SERVICING AGREEMENT, dated as of May 25, 2022 (together with all exhibits,
schedules and appendices hereto and as amended, supplemented or otherwise modified and in effect from time to time, this “Agreement”), is entered into by and among CARVANA AUTO RECEIVABLES TRUST
2022-P2, a Delaware statutory trust (the “Issuing Entity”), CARVANA AUTO RECEIVABLES GRANTOR TRUST 2022-P2, a Delaware statutory trust (the
“Grantor Trust”), BRIDGECREST CREDIT COMPANY, LLC, an Arizona limited liability company, as servicer (in such capacity, the “Servicer”), COMPUTERSHARE TRUST COMPANY, NATIONAL ASSOCIATION, a national banking
association, as indenture trustee (the “Indenture Trustee”), and VERVENT INC., a Delaware corporation, as backup servicer (the “Backup Servicer”). 

WHEREAS, the Grantor Trust has acquired a portfolio of motor vehicle receivables, including retail installment sales contracts, direct
purchase money loans and/or conditional sales contracts that are secured by used automobiles, light-duty trucks, minivans or sport utility vehicles; and 

WHEREAS, the Servicer is willing to service such motor vehicle receivables and related property; 

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

 DEFINITIONS AND USAGE 

SECTION 1.1 Definitions. Except as otherwise specified herein or as the context may otherwise require, capitalized terms used but not
otherwise defined herein are defined in Part I and Part IV of Appendix A to the Receivables Purchase Agreement, dated as of the date hereof (as amended, supplemented, or otherwise modified and in effect from
time to time, the “Receivables Purchase Agreement”), by and between Carvana, LLC, as seller, and Carvana Receivables Depositor LLC. All references herein to “the Agreement” or “this Agreement” are to this
Servicing Agreement as it may be amended, supplemented or modified from time to time, the exhibits and schedules hereto and the capitalized terms used herein, which are defined in Part I of such Appendix A, and all references herein to
Articles, Sections and Subsections are to Articles, Sections or Subsections of this Agreement unless otherwise specified. The rules of construction set forth in Part II of such Appendix A shall be applicable to this Agreement. 

“Servicing Fee Rate” means a per annum rate equal to 0.60%. 

“Servicing Rate” means the Servicing Fee Rate or the Successor Servicing Fee Rate (Backup Servicer), as applicable. 

“Successor Servicing Fee Rate (Backup Servicer)” means a per annum rate equal to 0.60%. 

  

					
		 		  	 CRVNA 2022-P2 Servicing Agreement

 ARTICLE II 

ADMINISTRATION AND SERVICING OF 

RECEIVABLES AND TRUST PROPERTY 

SECTION 2.1 Duties of Servicer. 

(a) The Servicer is hereby appointed and authorized by the Issuing Entity and the Grantor Trust to act as agent for the Grantor Trust for the
benefit of the Issuing Entity, the Issuing Entity for the benefit of the Certificateholders and the Indenture Trustee for the benefit of the Noteholders and the Certificateholders, and in such capacity shall service and make collections on the
Receivables in accordance with its Customary Servicing Practices and Applicable Law, subject to the provisions herein, using the degree of skill and care that the Servicer exercises with respect to all comparable motor vehicle receivables that it
services for itself or others. The Servicer’s duties will include collection and posting of all payments, responding to inquiries of Obligors, pursuing delinquencies, recovery and remarketing of Financed Vehicles, making available payment or
other information (which may be in electronic form or through a web portal) to Obligors, accounting for Collections, administering insurance claim filings and providing monthly reports in accordance with Section 2.7. The
Servicer is not required under the Transaction Documents to make any disbursements via wire transfer or otherwise on behalf of an Obligor. There are no requirements under the Receivables or the Transaction Documents for funds to be, and funds shall
not be, held in trust for an Obligor. There are no requirements under the Receivables or the Transaction Documents for payments or disbursements to be made by the Servicer on behalf of the Obligor. Notwithstanding anything to the contrary in this
Agreement, other than with respect to Section 4.5, the Servicer shall not be liable for any failure or delay in the performance of its obligations or the taking of any action hereunder (and such failure or delay shall not
constitute a breach of this Agreement or a Servicer Termination Event) if such failure or delay arises from compliance by the Servicer with any law or court order or at the direction of a regulatory authority. The Servicer hereby accepts such
appointment and authorization and agrees to perform the duties of Servicer with respect to the Receivables set forth herein. 
 (b) Subject
to the provisions of Section 2.2 and any other provision in this Agreement restricting the Servicer or specifying obligations different from the Customary Servicing Practices, the Servicer will follow its Customary
Servicing Practices and will have full power and authority to do any and all things in connection with such servicing and collection that it may deem necessary or desirable. The Servicer is hereby authorized and empowered to execute and deliver, on
behalf of itself, the Issuing Entity, the Grantor Trust, the Grantor Trust Trustee the Owner Trustee, the Indenture Trustee, the Noteholders, the Certificateholders, or any of them, any and all instruments of satisfaction or cancellation, or partial
or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Vehicles securing such Receivables. The Servicer is hereby authorized to commence, in its own name or in the name of the Grantor
Trust, a Proceeding to enforce a Receivable or an Insurance Policy or to commence or participate in any other Proceeding (including a bankruptcy Proceeding) relating to or involving a Receivable, an Obligor, a Financed Vehicle or an Insurance
Policy. If the Servicer commences a Proceeding to enforce a Receivable or an Insurance Policy, the Grantor Trust will thereupon be deemed to have automatically assigned 

  

					
		 	2	  	 CRVNA 2022-P2 Servicing Agreement

 
such Receivable or its rights under such Insurance Policy to the Servicer solely for purposes of commencing or participating in any such Proceeding as a party or claimant, and the Servicer is
authorized and empowered by the Grantor Trust to execute and deliver in the Servicer’s name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in connection with any such Proceeding. If in any
Proceeding it is held that the Servicer may not enforce a Receivable or Insurance Policy on the ground that it is not a real party in interest or a holder entitled to enforce the Receivable or Insurance Policy, the Indenture Trustee will, at the
Servicer’s expense and direction, take steps to enforce the Receivable or Insurance Policy, including bringing suit in its name or the name of the Issuing Entity or the Grantor Trust. The Servicer will prepare and furnish and the Issuing
Entity, the Grantor Trust and the Indenture Trustee will execute any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. 

(c) The Servicer shall not be required to maintain a fidelity bond or error and omissions policy or to monitor whether Obligors obtain or
maintain an Insurance Policy on the Financed Vehicles. 
 SECTION 2.2 Collection of Receivable Payments. (a) The Servicer will
make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same become due in accordance with its Customary Servicing Practices. The Servicer shall notify Obligors (and each other
Person who makes payments relating to the Receivables) to make payments directly to a Depository Account, to mail payment to one of the Post-Office Boxes and/or to pay through any Third Party Bill Payment Service, in each case, in accordance with
Customary Servicing Practices. When the Servicer receives any Collections on the Receivables (including payments mailed to one of the Post-Office Boxes or payments received from a Third Party Bill Payment Service), the Servicer shall hold such
Collections in trust in accordance with the Master Depository Agreement for the benefit of the Grantor Trust, the Issuing Entity and the Indenture Trustee, as applicable (provided, however, that if the Backup Servicer becomes the Servicer, the
Backup Servicer may comingle payments with its own funds), and shall, as soon as possible but no later than two (2) Business Days following identification, deposit such Collections into the Collection Account. Notwithstanding the foregoing, the
Servicer, at its option, may retain Supplemental Servicing Fees and may net Liquidation Expenses from any Liquidation Proceeds otherwise required to be deposited into the Collection Account. The Servicer shall allocate Collections it receives to
principal, interest and fees in accordance with its Customary Servicing Practices. The Servicer may grant Permitted Modifications, but not any other extension, deferral, amendment, modification, alteration, temporary reduction in payments or
adjustment, with respect to any Receivable in accordance with its Customary Servicing Practices. 
 “Permitted Modification” means an
extension, deferral, alteration, amendment, modification, temporary reduction in payment or adjustment to the terms of, or with respect to, any Receivable with respect to which at least one of the following conditions has been satisfied:  
  

	 	(i)	 any amendment, modification, alteration or adjustment, individually and collectively with any other amendment,
modification, alteration or adjustment proposed to be made with respect to the Receivable, is ministerial in nature (including, without limitation, any change to the due date for monthly payments from an Obligor to a different day in the month or a
waiver of any Supplemental Servicing Fees); 

  

					
		 	3	  	 CRVNA 2022-P2 Servicing Agreement

	 	(ii)	 any amendment, modification, alteration or adjustment, individually and collectively with any other amendment,
modification, alteration or adjustment that is required by Applicable Law (including at the direction of a regulatory authority or court order); 

  

	 	(iii)	 in the case of any extension or deferral, the Obligor’s address is within a geographic area determined by
the President of the United States or the Governor of the applicable state to warrant individual, or individual and public, assistance from the federal government under the Robert T. Stafford Disaster Relief and Emergency Assistance Act or similar
state law, as the case may be; 

  

	 	(iv)	 any amendment, modification, alteration or adjustment where the Obligor is in default and the Servicer believes
that such amendment, modification, alteration or adjustment is appropriate or necessary to preserve the value of the Receivable and to prevent the Receivable from becoming further impaired; 

 

	 	(v)	 any other extension, deferral, amendment, modification, alteration, temporary reduction in payment, or
adjustment (A) which is in accordance with the Servicer’s Customary Servicing Practices and (B) the Servicer believes that such amendment, modification, alteration or adjustment is appropriate or necessary to preserve the value of
such Receivable and to prevent such Receivable from going into default (or, where the Receivable is already in default, to prevent the Receivable from becoming further impaired); or 

 

	 	(vi)	 an opinion has been delivered to the Issuing Entity and the Administrator to the effect that such extension,
deferral, amendment, modification, alteration, temporary reduction in payment or adjustment will not cause the Grantor Trust to fail to qualify as a grantor trust for United States federal income tax purposes. 

(b) Notwithstanding the foregoing, the Servicer may not reduce the APR or Principal Balance with respect to any Receivable, in either case
other than as required by Applicable Law or court order, at the direction of a regulatory authority, as evidenced by an Opinion of Counsel in accordance with regulatory guidance or in accordance with the Servicer’s compliance procedures for
complying with the Servicemembers Civil Relief Act and any similar applicable federal, state or local law. If the Servicer reduces the APR or Principal Balance of any Receivable other than as permitted, then the Servicer will pay the Actual Loss
Amount with respect to such Receivable in accordance with Section 2.6. Additionally, if the Servicer extends the date for final payment by the Obligor of any Receivable beyond the last day of the Collection Period preceding
the latest Final Scheduled Distribution Date of all classes of Notes issued under the Indenture, then the Servicer shall pay the Actual Loss Amount (if any) with respect to such Receivable in accordance with Section 2.6.

  

					
		 	4	  	 CRVNA 2022-P2 Servicing Agreement

 (c) The Servicer may in its discretion waive any late payment charge or any other fees that
constitute Supplemental Servicing Fees that may be collected in the ordinary course of servicing a Receivable. The Servicer is not required to make any advances of funds or guarantees regarding collections, cash flows or distributions. Nothing in
any section of this Agreement shall be construed to prevent the Servicer from implementing new programs, whether on an intermediate, pilot or permanent basis, or on a regional or nationwide basis, or from modifying its standards, policies and
procedures as long as, in each case, such programs or modifications would be consistent with its Customary Servicing Practices. 
 SECTION
2.3 Realization Upon Receivables. (a) On behalf of the Grantor Trust, the Servicer will use commercially reasonable efforts, consistent with its Customary Servicing Practices, to repossess or otherwise convert the ownership of the
Financed Vehicle securing any Receivable as to which the Servicer has determined that eventual payment in full is unlikely, unless it determines in its sole discretion that repossession will not increase the Liquidation Proceeds by an amount greater
than the expense of such repossession, that the proceeds ultimately recoverable with respect to such Receivable would be increased by forbearance or that repossessing such Financed Vehicle would otherwise not be consistent with the Servicer’s
Customary Servicing Practices. The Servicer will use commercially reasonable efforts consistent with its Customary Servicing Practices to maximize net proceeds from the repossession of a Financed Vehicle and follow such Customary Servicing Practices
as it deems necessary or advisable, which may include selling the Financed Vehicle at public or private sale. The foregoing will be subject to the provision that, in any case in which the Financed Vehicle has suffered damage, the Servicer shall not
be required to expend funds in connection with the repair or the repossession of such Financed Vehicle. 
 (b) In addition, the Servicer may
from time to time (but is not required to) sell any Charged-Off Receivables on behalf of the Issuing Entity or the Grantor Trust in accordance with its Customary Servicing Practices; provided,
however, (1) that each sale must be made at a price equal to the fair market value of such Charged-Off Receivable in immediately available funds and (2) the aggregate Unpaid Charged-Off Balances of Charged-Off Receivables sold to Third-Party Purchasers shall not exceed 15% of the Pool Balance as of the Cutoff Date. To facilitate any such sale the
Servicer may, in accordance with its Customary Servicing Practices, purchase from the Grantor Trust such Charged-Off Receivable for a purchase price equal to the proceeds received by the Servicer from a Third
Party Purchaser for the sale of such Charged-Off Receivable or may (i) direct the Grantor Trust to sell any Charged-Off Receivable to a Third Party Purchaser or
(ii) direct the Grantor Trust to enter into one or more Forward Commitment Transfers in connection with the sale of a Charged-Off Receivable. Subject to clause (c) below, net proceeds of any such
sale allocable to the Receivable will constitute Liquidation Proceeds, and the sole right of the Issuing Entity, the Grantor Trust and the Indenture Trustee with respect to any such sold Receivables will be to receive such Liquidation Proceeds. Upon
such sale, the Servicer will mark its computer records indicating that any such sold Receivable is no longer a Receivable. The Servicer is authorized to take any and all actions necessary or appropriate on behalf of the Issuing Entity or the Grantor
Trust to evidence the sale of the Financed Vehicle at a public or private sale or the sale of the Receivable to the Servicer to facilitate a Charged-Off Receivable sale pursuant to the provisions of this
paragraph, in each case, free from any Lien or other interest of the Issuing Entity, the Grantor Trust or the Indenture Trustee. 

  

					
		 	5	  	 CRVNA 2022-P2 Servicing Agreement

 (c) Each of the Issuing Entity, the Grantor Trust and the Indenture Trustee hereby agrees
that the Servicer may, in connection with any sale of a Charged-Off Receivable contemplated by clause (b) above and in accordance with its Customary Servicing Practices, (i) make representations and
warranties (to the extent not more expansive than the representations and warranties in Section 4.1) and provide indemnities (to the extent not more than more expansive than the indemnities set forth in
Section 4.2) for the benefit of the Third-Party Purchaser if and to the extent required by such Third-Party Purchaser, (ii) reimburse the Third-Party Purchaser’s costs in the event such Charged-Off Receivable, at the time of sale to such Third-Party Purchaser, was an Unenforceable Receivable, and such reimbursement shall be deemed to be a Liquidation Expense (provided, that such deemed Liquidation
Expense shall not exceed the Purchase Price of such Charged-Off Receivable), and (iii) execute all agreements and documents reasonably required to be executed by the Servicer in connection with any sale
of a Charged-Off Receivable; provided, however, that any such agreement be consistent with the terms hereof and impose no greater duties, liabilities or obligations upon the Servicer, the Grantor
Trust, the Issuing Entity, or the Indenture Trustee than those set forth in the Transaction Documents. 
 SECTION 2.4 Maintenance of
Security Interests in Financed Vehicles. The Servicer shall, in accordance with its Customary Servicing Practices, take such steps as are necessary to re-perfect or continue the priority and perfection of
the security interest created by each Receivable in the related Financed Vehicle (it being understood that the Servicer shall have no obligation to monitor or otherwise maintain the perfection of the security interest created by a Receivable in the
related Financed Vehicle). The Issuing Entity, Grantor Trust and the Indenture Trustee hereby authorize the Servicer to take such steps as are necessary to re-perfect such security interest created by the
Receivable in the event of the relocation of a Financed Vehicle or for any other reason. 
 SECTION 2.5 Additional Covenants of
Servicer. 
 (a) Unless required by Applicable Law or court order, at the direction of a regulatory authority or, as evidenced by an
Opinion of Counsel, in accordance with regulatory guidance, the Servicer will not release the Financed Vehicle securing each such Receivable from the security interest granted by such Receivable in whole or in part except (a) in the event of
payment in full by or on behalf of the Obligor thereunder or payment in full less a deficiency which the Servicer would not attempt to collect in accordance with its Customary Servicing Practices, (b) in connection with the repossession and
liquidation of such Financed Vehicle or (c) as may be required by an insurer in order to receive proceeds from any Insurance Policy covering such Financed Vehicle. 

(b) Except to the extent required by Applicable Law or court order, at the direction of a regulatory authority or, as evidenced by an Opinion
of Counsel, in accordance with regulatory guidance, the Servicer shall not do anything to materially impair the rights of the Grantor Trust, the Issuing Entity, the Indenture Trustee, the Owner Trustee, the Grantor Trust Trustee, the Noteholders or
the Certificateholders in the Receivables or to cause the Receivables to no longer satisfy the requirements for “control” of electronic chattel paper under the UCC. 

  

					
		 	6	  	 CRVNA 2022-P2 Servicing Agreement

 SECTION 2.6 Indemnification upon Breach. The Servicer, the Grantor Trust, the Issuing
Entity or the Indenture Trustee shall inform the other parties promptly, in writing, (i) in the case of the Indenture Trustee, the Owner Trustee or the Grantor Trust Trustee, if a Responsible Officer has actual knowledge of or receives written
notice of, and (ii) in the case of the Servicer, upon the discovery or receipt of notice by a Responsible Officer of the Servicer of any breach of Sections 2.2(b) or 2.5 which would require the Servicer to make an Actual Loss
Payment in accordance with Section 3.3(a) and, except for a breach of Section 2.2(b), any breach that materially and adversely affects the interests of the Grantor Trust, the Issuing Entity, the
Certificateholders, the Indenture Trustee or the Noteholders, taken as a whole; provided, however, that the failure to give such notice shall not affect any obligation of the Servicer hereunder. Unless such breach shall have been cured
in all material respects by the thirtieth (30th) day following such discovery or receipt of notice of such breach, such Receivable shall become an Indemnified Receivable and the Servicer shall make an Actual Loss Payment (if any) in accordance with
Section 3.3(a). Except as provided in Section 2.2 and Section 4.2, the sole and exclusive remedy of the Grantor Trust, the Issuing Entity, the Owner Trustee, the Grantor
Trust Trustee, the Indenture Trustee, the Backup Servicer, the Noteholders and the Certificateholders with respect to a breach of Sections 2.2(b) or 2.5 with respect to any Receivable shall be to require the Servicer to make a payment
to the Grantor Trust equal to the Actual Loss Amount in accordance with Section 3.3(a) (and such breach shall not be a Servicer Termination Event). 

SECTION 2.7 Servicing Fee. The Servicing Fee for the initial Distribution Date shall equal the product of (i) 23/360 of the Servicing
Fee Rate, multiplied by (ii) the Initial Pool Balance. Thereafter, the Servicing Fee for any Distribution Date shall equal (a) with respect to the Initial Servicer, the product of
(A) one-twelfth of the Servicing Fee Rate, multiplied by (B) the Pool Balance as of the opening of business on the first day of the related Collection Period and (b) with respect to the
Successor Servicer if the Backup Servicer, (A) one-twelfth of the Successor Servicing Fee Rate (Backup Servicer), multiplied by (B) the Pool Balance as of the opening of business on the first day of
the related Collection Period, or (c) with respect to any other Successor Servicer, the fee payable to such Successor Servicer. In addition to the Servicing Fee, the Servicer and any Successor Servicer shall be entitled to receive Supplemental
Servicing Fees and Liquidation Expenses in accordance with Section 2.7 of the Indenture and is entitled to retain all Investment Earnings (net of losses and investment expenses) on the funds in its Depository Accounts. The
Indenture Trustee may make arrangements for compensation to be paid to the Successor Servicer, which in no event may be greater than the servicing compensation to the Servicer hereunder, unless consented to by the Requisite Noteholders.
Notwithstanding anything else herein to the contrary, in no event shall the Indenture Trustee be liable for any Servicing Fee or for any differential in the amount of the Servicing Fee paid hereunder and the amount necessary to induce any Successor
Servicer to act as Successor Servicer under this Agreement and the transactions set forth or provided for herein. 

  

					
		 	7	  	 CRVNA 2022-P2 Servicing Agreement

 SECTION 2.8 Servicer’s Certificate; Asset-Level Data. 

(a) No later than 10:00 a.m. Mountain Standard Time on each Determination Date, the Servicer shall deliver to the Indenture Trustee, the
Administrator, each Rating Agency, the Grantor Trust, the Issuing Entity, the Backup Servicer and the Paying Agent with respect to the Trust Agreement (or if there is no such Paying Agent under the Trust Agreement, to the Owner Trustee) the
Servicer’s Certificate, substantially in the form of Exhibit A hereto, which the Indenture Trustee shall make available electronically to each Noteholder and Certificateholder and which shall contain all information necessary to make the
distributions pursuant to Section 2.7 of the Indenture (including, if required, withdrawals from the Reserve Account and the Class N Reserve Account) for the Collection Period preceding the date of such Servicer’s Certificate and at
least the following information (to the extent applicable and subject to Section 2.8(d)): 
 (i)
the amount of such distribution allocable to principal of each class of Notes; 
 (ii) the amount of such distribution
allocable to interest on each class of Notes; 
 (iii) the Pool Balance; 

(iv) the outstanding principal amount and the Note Pool Factor for each Class of Notes as of such Distribution Date, after
giving effect to payments allocated to principal reported under (i) above; 
 (v) the amount of distributions allocable
to the Certificateholders; 
 (vi) the Servicing Strip Amount, the Servicing Fee, any Supplemental Servicing Fees and
liquidation expense reimbursements paid to the Servicer with respect to the related Collection Period, the amount of any unpaid Servicing Strip Amount, any unpaid Servicing Fees, any unpaid Supplemental Servicing Fees and any unpaid Liquidation
Expenses, and the change in such amount from that of the prior Distribution Date; 
 (vii) the Backup Servicing Fee paid to
the Backup Servicer with respect to the related Collection Period and the amount of any unpaid Backup Servicing Fees, and the change in such amount from that of the prior Distribution Date; 

(viii) the amount, if any, of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the
Class C Interest Carryover Shortfall, the Class D Interest Carryover Shortfall and the Class N Interest Carryover Shortfall, if any, on such Distribution Date, and the change in such amounts from the preceding Distribution Date; 

(ix) the amount, if any, of the First Priority Principal Distributable Amount, the Second Priority Principal Distributable
Amount, the Third Priority Principal Distributable Amount, the Fourth Priority Principal Distributable Amount, and the Noteholders’ Regular Principal Distributable Amount on such Distribution Date, and the change in such amounts from the
preceding Distribution Date; 

  

					
		 	8	  	 CRVNA 2022-P2 Servicing Agreement

 (x) any amounts paid to the Indenture Trustee, the Owner Trustee, the
Grantor Trust Trustee, the Asset Representations Reviewer, the Collateral Custodian or the Administrator incurred pursuant to the Indenture, the Trust Agreement, the Grantor Trust Agreement, this Servicing Agreement, the Asset Representations Review
Agreement, the Collateral Custodian Agreement or the Administration Agreement, respectively, paid pursuant to Section 2.7 of the Indenture; 

(xi) the number of Receivables and the aggregate Principal Balance thereon, for which the related Obligors are delinquent in
making scheduled payments between thirty-one (31) and sixty (60) days, sixty-one (61) and ninety (90) days and
ninety-one (91) and one hundred twenty (120) days; 
 (xii) the number and
the aggregate Purchase Amount of Receivables that became Purchased Receivables and any Receivables purchased pursuant to Section 6.1 during the related Collection Period; 

(xiii) the aggregate indemnification amounts, if any, paid by the Servicer pursuant to Section 2.6
during the related Collection Period; 
 (xiv) (A) the number of Receivables extended (computed as the number of whole months
extended, or fractions thereof) during the preceding Collection Period, (B) the aggregate Principal Balance (as of the beginning of the preceding Collection Period) for such Receivables, (C) the number of all Receivables in the Grantor
Trust as of the beginning of the preceding Collection Period, (D) the Pool Balance as of the beginning of the preceding Collection Period and (E) the ratio of (A) over (C) and the ratio of (B) over (D); 

(xv) the amount deposited in or withdrawn from the Reserve Account on such Distribution Date and the amount on deposit in the
Reserve Account before and after giving effect to such deposit or withdrawal; 
 (xvi) the amount withdrawn from the
Class N Reserve Account on such Distribution Date and the amount on deposit in the Class N Reserve Account after giving effect to such withdrawal; 

(xvii) the amount of the distributions payable out of amounts withdrawn from the Reserve Account; 

(xviii) the amount of the distributions payable out of amounts withdrawn from the Class N Reserve Account; 

(xix) delinquency and loss information on the Receivables for the related Collection Period, and whether the Delinquency
Trigger occurred; 
 (xx) the number and amount of Receivables at the beginning and end of the related Collection Period, the
weighted average annual percentage rate of the Receivables and the weighted average remaining term of the Receivables; 

  

					
		 	9	  	 CRVNA 2022-P2 Servicing Agreement

 (xxi) if applicable, the amount of receivables with respect to which
material breaches of pool asset representations or warranties or transaction covenants have occurred during the related Collection Period; 

(xxii) if applicable, any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments
on, pool assets during the Collection Period or that, cumulatively, have become material over time; 
 (xxiii) if applicable,
a statement that the Administrator has received a communication request from a Noteholder interested in communicating with other Noteholders regarding the possible exercise of rights under the Transaction Documents, the name and contact information
for the requesting Noteholder and the date such request was received; 
 (xxiv) if applicable, information with respect to
any change in the Asset Representations Reviewer; 
 (xxv) if applicable, a summary of the findings and conclusions of any
Asset Representations Review conducted by the Asset Representations Reviewer; 
 (xxvi) if applicable, the nature and amount
of any material change in the Sponsor’s or an Affiliate’s interest in the Notes or Certificates from their purchase, sale or other disposition; 

(xxvii) if applicable, the commencement of an Arbitration proceeding relating to a Repurchase Request and instructions for the
Noteholders to participate in any such proceeding; and 
 (xxviii) if applicable, any voting instructions and procedures
relating to a vote to require an Asset Representations Review. 
 Each amount set forth pursuant to clauses (i), (ii) or (v), as
applicable, above shall be expressed as a dollar amount per $1,000 of original principal balance of a Note or Percentage Interest of a Certificate. Not later than the first Business Day prior to each Determination Date, the Sponsor will provide
the Servicer with any information to be included in the Servicer’s Certificate under clause (xii), clause (xxi) and clauses (xxiii) through (xxviii), as applicable. 

The Indenture Trustee shall make available to each Rating Agency and to each Noteholder and each Certificateholder of record, via the
Indenture Trustee’s website, the statement available each month and, with the consent or at the direction of the Servicer, such other information regarding the Notes and the Certificates and/or the Receivables as the Indenture Trustee may have
in its possession, but only with the use of a password provided by the Indenture Trustee or its agent to such Person. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents and will
assume no responsibility therefore. 

  

					
		 	10	  	 CRVNA 2022-P2 Servicing Agreement

 The Indenture Trustee’s website shall be initially located at
“www.CTSLink.com” or at such other address as shall be specified by the Indenture Trustee from time to time in writing to each Rating Agency and to each Noteholder and each Certificateholder of record. In connection with providing access
to the Indenture Trustee’s website, the Indenture Trustee may require registration and the acceptance of a disclaimer. 
 The Indenture
Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the statement and shall affix thereto any disclaimer it deems appropriate in its
reasonable discretion (without suggesting liability on the part of any other party hereto). 
 (b) Each Servicer’s Certificate will be
delivered in electronic format. No disbursements shall be made directly by the Servicer to a Noteholder or a Certificateholder, and the Servicer shall not be required to maintain any investor record relating to the posting of disbursements or
otherwise. 
 (c) The Servicer will provide certain asset-level information contemplated by Item 1125 of Regulation AB as agreed in writing
by the Servicer, the Depositor and the Sponsor. 
 (d) For the avoidance of doubt, the Servicer makes no representations or warranties with
respect to the accuracy, truthfulness or correctness of any information provided by the Sponsor or the Seller that is incorporated, directly or indirectly and in conformity with the information provided by the Sponsor or the Seller, into the
Servicer’s Certificates or other information furnished or to be furnished by the Servicer (including information provided by the Sponsor to the Servicer pursuant to Section 2.8(a), information provided by the Servicer
to the Backup Servicer or information provided pursuant to Section 2.8(c)). 
 SECTION 2.9 Annual
Officer’s Certificate; Notice of Servicing Termination Event. 
 (a) The Servicer will deliver to the Issuing Entity
and the Grantor Trust, with a copy to the Indenture Trustee, on or before March 15 of each year, beginning on March 15, 2023, an Officer’s Certificate (with appropriate insertions) providing such information as is required under Item
1123 of Regulation AB. 
 (b) The Servicer will deliver to the Issuing Entity, with a copy to the Indenture Trustee, promptly after having
obtained knowledge thereof, but in no event later than five (5) Business Days thereafter, written notice in an Officer’s Certificate of any event which has occurred and is continuing, with the giving of notice or lapse of time or both,
unless cured, would become a Servicer Termination Event. 
 (c) The Servicer will deliver to the Issuing Entity and the Grantor Trust on or
before March 15 of each year, beginning on March 15, 2023, a report regarding the Servicer’s assessment of compliance with the Servicing Criteria during the immediately preceding calendar year, including disclosure of any material
instance of non-compliance identified by the Servicer, as required under paragraph (b) of Rule 13a-18 and Rule 15d-18 of the
Exchange Act and Item 1122 of Regulation AB. Such report shall address each of the Servicing Criteria specified in Exhibit B as applicable to the Servicer or such other criteria as mutually agreed upon by the Depositor and the Servicer. 

  

					
		 	11	  	 CRVNA 2022-P2 Servicing Agreement

 SECTION 2.10 Servicer Expenses. The Servicer shall pay all expenses (other than
Liquidation Expenses) incurred by it in connection with its activities hereunder, including fees and disbursements of independent accountants, taxes imposed on the Servicer and expenses incurred in connection with distributions and reports to the
Noteholders, the Grantor Trust, the Issuing Entity, the Indenture Trustee, the Backup Servicer and the Certificateholders. The Servicer will not be entitled to reimbursement of such expenses except for Liquidation Expenses and fees and expenses
included in Supplemental Servicing Fees. 
 SECTION 2.11 Annual Registered Public Accounting Firm Attestation Report. 

(a) On or before the ninetieth (90th) day following the end of each fiscal year, beginning
with the fiscal year ending December 31, 2022, the Servicer shall cause a firm of independent registered public accountants (who may also render other services to the Servicer, the Seller or their respective Affiliates) to furnish to the
Issuing Entity and the Grantor Trust, with a copy to the Indenture Trustee, an attestation report on assessments of compliance with the Servicing Criteria with respect to the Servicer during the related fiscal year delivered by such accountants
pursuant to paragraph (c) of Rule 13a-18 or Rule 15d-18 of the Exchange Act and Item 1122 of Regulation AB. The certification required by this paragraph may be
replaced by any similar certification using other procedures or attestation standards which are now or in the future in use by servicers of comparable assets, or which otherwise comply with any rule, regulation, “no action” letter or
similar guidance promulgated by the Commission. 
 (b) Notwithstanding Section 2.11(a), the Servicer, however,
shall not be obligated to add as an addressee or reliance party with respect to any report described above any Person who does not comply with or agree to the required procedures of such firm of independent certified public accountants, including
but not limited to execution of engagement letters or access letters regarding such reports. 
 (c) The Indenture Trustee shall not be
required to agree to the procedures to be performed by such independent certified public accountants in any of the reports required to be prepared pursuant to this Section 2.11. 

SECTION 2.12 Exchange Act Filings. The Servicer shall not be responsible for preparing, signing, certifying and filing or furnishing
any reports, statements or information respecting the Issuing Entity and/or the Notes required to be filed pursuant to the Exchange Act, and the rules thereunder. 

ARTICLE III 
 DISTRIBUTIONS;
ACCOUNTS 
 SECTION 3.1 Depository Accounts; Post-Office Boxes. The Servicer shall establish and maintain (or cause to be established
and maintained) the Depository Accounts and the Post-Office Boxes at a United States Post Office. 

  

					
		 	12	  	 CRVNA 2022-P2 Servicing Agreement

 In the event that the Servicer or its Affiliate shall for any reason no longer be
maintaining the Depository Accounts pursuant to this Section 3.1, the Servicer shall deliver, or shall cause to be delivered, at its own expense, to the Successor Servicer all documents and records relating to the
Depository Accounts and an accounting of amounts collected and held in the Depository Accounts and shall otherwise, in a manner not inconsistent with the Master Agency Agreement, if applicable, use its best efforts to effect the orderly and
efficient transfer of the Depository Accounts and Post-Office Boxes to the Successor Servicer. 
 SECTION 3.2 Remittances.
(a) On each Business Day after the Closing Date, the Servicer shall deposit (or cause to be deposited) any payments relating to the Receivables received in one of the Post-Office Boxes to one of the Depository Accounts. The Servicer shall,
subject to clause (b) below, deposit (or cause to be deposited) all Collections on the Receivables into the Collection Account within two (2) Business Days following identification thereof. If the Backup Servicer becomes the Servicer and
becomes responsible for maintaining the Depository Accounts pursuant to Section 3.1 hereof, the Backup Servicer may comingle payments with its own funds, as applicable, but shall hold such payments in trust for the benefit
of the Grantor Trust, the Issuing Entity and the Indenture Trustee, segregated from the assets of the Backup Servicer or anyone else, as applicable, and shall, as soon as possible but no later than two (2) Business Days following identification
deposit such payments in one of the Depository Accounts. 
 (b) The Servicer may deduct from Collections to be deposited into the Collection
Account all Unrelated Amounts and Supplemental Servicing Fees to the extent Unrelated Amounts and Supplemental Servicing Fees have not been previously reimbursed to the Servicer. 

SECTION 3.3 Additional Deposits and Payments. (a) The Servicer shall deposit (or cause to be deposited) into the Collection
Account the Actual Loss Amount with respect to each Indemnified Receivable, in immediately available funds, within five (5) Business Days after the applicable Loss Calculation Date with respect to such Indemnified Receivable. 

(b) The Servicer will deposit into the Collection Account all amounts, if any, to be paid under Section 6.1. All such
deposits with respect to any such date which is a Distribution Date will be made, in immediately available funds by the close of business on the Business Day prior to such Distribution Date related to such Collection Period. 

ARTICLE IV 
 THE SERVICER 

SECTION 4.1 Representations and Warranties of the Servicer. The Servicer makes the following representations and warranties as of the
Closing Date on which the Issuing Entity and the Grantor Trust will be deemed to have relied in acquiring the Receivables and which will survive the conveyance of the Receivables to the Issuing Entity, the contribution to the Grantor Trust and the
pledge thereof to the Indenture Trustee pursuant to the Indenture: 
 (a) Existence and Power. The Servicer is an Arizona limited
liability company validly existing and in good standing under the laws of its state of formation and has, in all material respects, all power and authority to carry on its business as it is now conducted. The Servicer has obtained all necessary
licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the Servicer to perform its obligations under this Agreement and the other Transaction Documents to which it is a party. 

  

					
		 	13	  	 CRVNA 2022-P2 Servicing Agreement

 (b) Authorization and No Contravention. The execution, delivery and performance by
the Servicer of this Agreement (i) have been duly authorized by all necessary action on the part of the Servicer and (ii) do not contravene or constitute a default under (A) any Applicable Law, (B) its organizational documents or
(C) any material agreement, contract, order or other instrument to which it is a party or its property is subject (other than violations of such laws, rules, regulations, indentures or agreements which do not affect the legality, validity or
enforceability of any of such agreements or which, individually or in the aggregate, would not materially and adversely affect the transactions contemplated by, or the Servicer’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 the Servicer of this Agreement other than (i) UCC filings, (ii) approvals and authorizations that have previously been obtained and filings that have previously been made and (iii) approvals,
authorizations or filings which, if not obtained or made, would not have a material adverse effect on the enforceability or collectability of the Receivables or would not materially and adversely affect the ability of the Servicer to perform its
obligations under this Agreement. 
 (d) Binding Effect. This Agreement constitutes the legal, valid and binding obligation of the
Servicer enforceable against the Servicer 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 Proceedings pending or, to the knowledge of a Responsible Officer of the Servicer, threatened against
the Servicer 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 the Servicer
of its obligations under this Agreement. 
 SECTION 4.2 Indemnities of Servicer. The Servicer will be liable in accordance herewith
only to the extent of the obligations specifically undertaken by the Servicer under this Agreement, and hereby agrees to the following: 

(a) The Servicer will indemnify, defend and hold harmless the Issuing Entity, the Grantor Trust, the Owner Trustee, the Grantor Trust Trustee,
the Indenture Trustee, the Collateral Custodian, the Backup Servicer and the Seller and their respective officers, directors, employees and agents from and against any and all costs (including reasonable legal fees and related costs), expenses,
losses, claims, damages, and liabilities to the extent that such cost, expense, loss, claim, damage, or liability arose out of, or was imposed upon any such Person through, the negligence (other than errors in judgment), willful misfeasance or bad
faith of the Servicer in the performance of its duties under this Agreement or any other Transaction Document to which it is a party, or by reason of its reckless disregard of its obligations and 

  

					
		 	14	  	 CRVNA 2022-P2 Servicing Agreement

 
duties under this Agreement or any other Transaction Document to which it is a party, or by reason of breach of any representations or warranties made herein by the Servicer (excluding, however,
costs, expenses, losses, claims, damages and liabilities to the extent resulting from the negligence (or gross negligence (except for errors in judgment) in the case where the Owner Trustee, Grantor Trust Trustee, Indenture Trustee or Collateral
Custodian is seeking indemnification) or willful misconduct on the part of the indemnified party or breach of any Transaction Document by the indemnified party (in the case of the Indenture Trustee and Collateral Custodian, resulting from the
Indenture Trustee’s or the Collateral Custodian’s negligence or willful misconduct)). Such indemnification shall include any amounts incurred by an indemnified party in connection with the enforcement of the Servicer’s
indemnification. 
 (b) Notwithstanding anything contained herein to the contrary, the Servicer shall not be liable under this Agreement or
any other Transaction Document for any special, consequential or punitive damages whatsoever, whether in contract, tort or any other legal or equitable principle; provided, however, that such limitation shall not be applicable with
respect to indemnification obligations for third-party claims made against a party. 
 (c) Indemnification under this
Section 4.2 by the Initial Servicer (or any successor thereto pursuant to Section 5.1), as Servicer, with respect to the period such Person was the Servicer, will survive the termination of such
Person as Servicer or a resignation by such Person as Servicer as well as the resignation or removal of any other party or the termination or assignment of this Agreement. If the Servicer has made any indemnity payments pursuant to this
Section 4.2 and the Person to or on behalf of whom such payments are made thereafter collects any of such amounts from others, such Person will promptly repay such amounts to the Servicer, without interest. If the Backup
Servicer becomes the Servicer, the Backup Servicer shall continue to have the benefit of this Section 4.2 for the period of time in which it was the Backup Servicer. 

(d) The Servicer agrees to indemnify and hold harmless the Sponsor, the Depositor, and each person, if any, who controls the Sponsor and the
Depositor within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act against any and all loss, liability, claim, damage and expense (including reasonable fees and expenses of counsel) whatsoever, as incurred
that arises out of or in connection with: (1) any untrue statement or alleged untrue statement of a material fact contained in, or the omission or alleged omission to state a material fact required to be stated or necessary to make the
statements, in light of the circumstances under which they were made, not misleading in, the information under the headings “Servicer”, “Servicing Procedures”, and “The Transaction Documents—The
Servicing Agreement and Servicing of the Receivables”, in each case as set forth in (i) the Registration Statement at the time of first effectiveness on March 18, 2022, (ii) the Preliminary Prospectus, (iii) each Free Writing
Prospectus identified on Schedule I, and (iv) the Prospectus, and (2) any untrue statement of a material fact in the information provided by the Servicer for inclusion in each Form 10-D and ABS-EE and related exhibits, as set forth in Schedule II. 
 (e) Promptly after receipt by an
indemnified party under this Section of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against the Servicer under this Section 4.2, notify the Servicer of
the commencement thereof; but the omission to so notify the Servicer will not relieve it from any liability which it 

  

					
		 	15	  	 CRVNA 2022-P2 Servicing Agreement

 
may have to any indemnified party, unless, and then only to the extent that, the Servicer did not otherwise learn of the claim and such delay is materially prejudicial to the Servicer’s
ability to defend or to obtain coverage under the Servicer’s insurance policy for such claim. In case any such action is brought against any indemnified party and it notifies the Servicer of the commencement thereof, the Servicer will be
entitled to participate therein and, to the extent that it may wish and solely with respect to the allegations in such action for which the indemnified party intends to make a claim against the Servicer pursuant to this
Section 4.2, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party, and after notice from the Servicer to such indemnified party of its election so to assume the defense thereof, the
Servicer will not be liable to such indemnified party under this Section for any legal or other expenses subsequently incurred by such indemnified party, in connection with the defense thereof other than reasonable costs of investigation;
provided, however, if the defendants in any such action include both the indemnified party and the Servicer and the indemnified party shall have been advised by counsel that a conflict of interest prevents the indemnified party and the
Servicer having the same counsel, the indemnified party or parties shall have the right to select a single separate counsel to assume such legal defenses and to otherwise participate in the defense of such action on behalf of such indemnified party
or parties, and the Servicer will reimburse any reasonable legal expenses incurred by the indemnified party having separate counsel, as a result of any such conflict, as incurred. The Servicer shall not, without the prior written consent of the
indemnified party, effect any settlement of any pending or threatened action in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party unless such settlement
includes an unconditional release of such indemnified party from all liability on any claims that are the subject matter of such action and any related future claims. 

SECTION 4.3 Limitation on Liability of Servicer and Others. (a) The Servicer will be liable under this Agreement only to the
extent of the obligations specifically undertaken by the Servicer under this Agreement and the representations and warranties made by the Servicer hereunder. Neither the Servicer nor any of the directors or officers or employees or agents of the
Servicer will be under any liability to the Issuing Entity, the Grantor Trust, the Indenture Trustee, the Owner Trustee, the Grantor Trust Trustee, the Collateral Custodian, the Backup Servicer, the Seller, the Noteholders or the Certificateholders,
except as provided in Section 4.2 of this Agreement and as otherwise provided under this Agreement, for any action taken or for refraining from the taking of any action pursuant to this Agreement or for errors in judgment;
provided, however, that this provision will not protect the Servicer or any such Person against any liability that would otherwise be imposed by reason of willful misfeasance or bad faith in the performance of duties or by reason of
its failure to perform its obligations or of reckless disregard of obligations and duties under this Agreement, or by reason of negligence in the performance of its duties under this Agreement (except for errors in judgment). The Servicer and any
director, officer or employee or agent of the Servicer may rely in good faith on any Opinion of Counsel or on any Officer’s Certificate of the Seller or certificate of auditors believed to be genuine and to have been signed by the proper party
in respect of any matters arising under this Agreement. Additionally, the Servicer shall not be liable for any failure or delay in the performance of its obligations or the taking of any action under this Agreement if that failure or delay arises
from compliance by the Servicer with any Applicable Law or court order or the direction of a regulatory authority. 

  

					
		 	16	  	 CRVNA 2022-P2 Servicing Agreement

 (b) Except as explicitly provided in this Agreement or any other Transaction Document, the
Servicer will not be under any obligation to appear in, prosecute or defend any legal action that is not necessary in furtherance of its duties to service the Receivables in accordance with this Agreement and its Customary Servicing Practices. 

SECTION 4.4 Delegation of Duties. The Servicer may, at any time without notice or consent, delegate (a) any or all of its duties
under the Transaction Documents to any of its Affiliates or (b) specific duties to sub-contractors who are in the business of performing such duties; provided, that no such delegation shall relieve
the Servicer of its responsibility with respect to such duties and the Servicer shall remain obligated and liable to the Issuing Entity, the Grantor Trust and the Indenture Trustee for its duties hereunder as if the Servicer alone were performing
such duties. 
 SECTION 4.5 The Servicer Not to Resign as Servicer. Subject to the provisions of Sections 4.3 and 4.4,
the Servicer will not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon a determination that the performance of its duties under this Agreement is not permissible under Applicable Law. Notice of
any such determination permitting the resignation of the Servicer will be communicated to the Indenture Trustee and the Backup Servicer by the Servicer at the earliest practicable time (and, if such communication is not in writing, will be confirmed
in writing at the earliest practicable time) and any such determination will be evidenced by an Opinion of Counsel to such effect delivered to the Indenture Trustee and the Backup Servicer concurrently with or promptly after such notice. No such
resignation will become effective until a Successor Servicer has assumed the responsibilities and obligations of the Servicer. If, after the Servicer gives notice of its intent to resign or is removed, a Successor Servicer does not take office
within (a) sixty (60) days or (b) such earlier time period set forth in the Backup Servicing Agreement under which the Backup Servicer is required to assume the obligations of the predecessor Servicer, the retiring Servicer, the Issuing
Entity or the Holders of a majority of the Outstanding Amount of the Controlling Class of Notes may petition a court of competent jurisdiction for the appointment and designation of a Successor Servicer. 

SECTION 4.6 Servicer May Own Notes and Certificates. The Servicer, and any Affiliate of the Servicer, may, in its individual or any
other capacity, become the owner or pledgee of Notes and Certificates with the same rights as it would have if it were not the Servicer or an Affiliate thereof, except as otherwise expressly provided herein or in the other Transaction Documents.
Except as set forth herein or in the other Transaction Documents, Notes and Certificates so owned by or pledged to the Servicer or such Affiliate will have an equal and proportionate benefit under the provisions of this Agreement, without
preference, priority or distinction as among all of the Noteholders and Certificateholders. 

  

					
		 	17	  	 CRVNA 2022-P2 Servicing Agreement

 ARTICLE V 

REPLACEMENT OF SERVICER 
 SECTION
5.1 Replacement of Servicer. 
 (a) If a Servicer Termination Event shall have occurred and be continuing, the Indenture Trustee may,
and at the direction of the Requisite Noteholders (or, if no Notes (other than Class XS Notes) are Outstanding, the Majority Certificateholders) shall, by notice given to the Servicer, the Owner Trustee, the Issuing Entity, the Administrator,
the Certificateholders and the Noteholders, terminate the rights and obligations of the Servicer under this Agreement with respect to the Receivables. In the event the Servicer is removed or resigns as Servicer with respect to servicing the
Receivables, all authority and power of the Servicer under this Agreement shall, without further action, pass to and be vested in (i) the Backup Servicer; or (ii) if the Backup Servicer has been terminated, such Successor Servicer as may
be approved under clause (b) below. 
 (b) Upon the Servicer’s receipt of notice of termination pursuant to clause
(a) above or the Servicer’s resignation in accordance with the terms of this Agreement, the predecessor Servicer shall continue to perform its functions as Servicer under this Agreement, only until the Backup Servicer (or another Successor
Servicer) has assumed the obligations of the predecessor Servicer in the time period set forth in the Backup Servicing Agreement. The Indenture Trustee shall give the Backup Servicer written notice of the Servicer’s termination or resignation.
In the event of termination or resignation of the Servicer hereunder, the Backup Servicer shall assume the obligations of Servicer hereunder (except to the extent otherwise set forth in the Backup Servicing Agreement) by the Appointment Effective
Date set forth in the Backup Servicing Agreement. In the event the Backup Servicer does not assume the role of Successor Servicer, the Requisite Noteholders (or if the Notes (other than the Class XS Notes) have been paid in full, the Issuing
Entity acting at the direction of the Majority Certificateholders) shall appoint another Person as Successor Servicer, who shall assume the obligations of Servicer hereunder (except to the extent otherwise set forth herein or within any agreement
with such Successor Servicer) on the assumption date specified in such written notice (the “Assumption Date”) pursuant to this Agreement. The amount of the Servicing Fee payable to (1) the Backup Servicer as Successor Servicer
shall be the Successor Servicing Fee Rate (Backup Servicer) and (2) any Successor Servicer (excluding the Backup Servicer) shall be any rate pursuant to this Agreement in an amount acceptable to the Requisite Noteholders and shall not exceed
the Servicing Strip Amount unless otherwise agreed to by the Requisite Noteholders; provided that, in no event shall the amount of the Servicing Fee payable to the predecessor Servicer be less than the pro rata share of the Servicing Fee due
to such predecessor Servicer based on the number of days such predecessor Servicer served as Servicer in the related Collection Period. The Backup Servicer shall act as Successor Servicer unless it is legally unable to do so, in which event the
predecessor Servicer shall continue to act as Servicer until a successor acceptable to the Requisite Noteholders has been appointed and accepted such appointment. In the event that a successor Servicer has not been appointed and the Backup Servicer
is legally unable to act at the time when the predecessor Servicer has ceased to act as Servicer in accordance with this Section 5.1, then the Indenture Trustee, the Issuing Entity or the Requisite Noteholders shall
appoint, or petition a court of competent jurisdiction to appoint, a successor to the Servicer under this Agreement at 

  

					
		 	18	  	 CRVNA 2022-P2 Servicing Agreement

 
the expense of the Issuing Entity and paid in accordance with Section 2.7 of the Indenture. If requested by the Issuing Entity, the Indenture Trustee, the Backup Servicer or the Successor
Servicer, as applicable, to the extent not inconsistent with the Master Agency Agreement, the Servicer will terminate, or cause to be terminated, any arrangements relating to (A) the Depository Accounts; or (B) the Post-Office Boxes, and
give notices thereunder or take other actions with respect thereto, and direct the Obligors to make all payments under the Receivables directly to or at the direction of the Successor Servicer at the predecessor Servicer’s expense (in which
event the Successor Servicer shall process such payments directly, through a lock-box account with a lock-box bank or through a third-party payment processing system, in
each case, at the direction of the Indenture Trustee acting at the direction of the Requisite Noteholders). 
 (c) If replaced, the Servicer
agrees that it will use commercially reasonable efforts to effect the orderly and efficient transfer of the servicing of the Receivables to a Successor Servicer. All reasonable costs and expenses incurred in connection with transferring the
Receivable Files and Servicer Files to the Successor Servicer and all other reasonable costs and expenses (including attorneys’ fees and disbursements) incurred in connection with the transfer to the Successor Servicer related to the
performance by the Servicer hereunder will be paid by the predecessor Servicer (or, if not so paid by the predecessor Servicer, in accordance with the priorities set forth in Sections 2.7(c) or 2.7(e) of the Indenture, as applicable) upon
presentation of reasonable documentation of such costs and expenses. The Successor Servicer, if the Backup Servicer, shall be entitled to payment for reasonable transaction expenses incurred in connection with acting as Successor Servicer in
accordance with the priorities and limits set forth in Section 2.7(a) or 2.7(e) of the Indenture, as applicable. The Servicer shall grant the Issuing Entity, the Indenture Trustee and the Backup Servicer reasonable access to the Servicer’s
premises at the predecessor Servicer’s expense as contemplated by, and subject the restrictions set forth in, Section 7.15. 

(d) Upon the Appointment Effective Date or the Assumption Date, as applicable, the Backup Servicer or the Successor Servicer, as applicable,
shall be the successor in all respects to the Servicer in its capacity as Servicer under this Agreement with respect to the Receivables, and shall be subject to all the responsibilities, duties and liabilities relating thereto, except with respect
to the obligations of the predecessor Servicer that survive its termination as Servicer, including indemnification obligations as set forth in Section 4.2(c). In such event, the Indenture Trustee and the Owner Trustee are
hereby authorized and empowered (but not obligated) to execute and deliver, on behalf of the predecessor Servicer, as attorney-in-fact or otherwise, any and all
documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such termination and replacement of the Servicer, whether to complete the transfer and endorsement of the
Receivables and related documents, or otherwise. No Servicer shall resign or be relieved of its duties under this Agreement, as Servicer of the Receivables, until a newly appointed Servicer for the Receivables shall have assumed the responsibilities
and obligations of the resigning or terminated Servicer under this Agreement. Without limiting any of the foregoing, under no circumstance shall Vervent Inc. (as Successor Servicer or otherwise) or any other Successor Servicer be deemed to have
incurred any obligation to make any advance or provide indemnification for Actual Loss Amounts with respect to any Receivables or any liability or obligation with respect to any Servicer indemnification obligations of any prior servicer including
the Initial Servicer. 

  

					
		 	19	  	 CRVNA 2022-P2 Servicing Agreement

 (e) The Requisite Noteholders (or, if no Notes (other than Class XS Notes) are
Outstanding, the Majority Certificateholders) may waive any Servicing Termination Event. Upon any such waiver, such Servicing Termination Event shall cease to exist and be deemed to have been cured and not to have occurred and any Servicing
Termination Event arising therefrom shall be deemed not to have occurred for every purpose of this Agreement, but no such waiver shall extend to any prior, subsequent or other Servicing Termination Event or impair any right consequent thereto. 

SECTION 5.2 Notification to Noteholders and Certificateholders. If a Responsible Officer of the Indenture Trustee receives any written
notice of a Servicer Termination Event or if the Servicer is terminated or a successor Servicer appointed pursuant to this Article V, then the Indenture Trustee will give prompt (but in no case later than five (5) Business Days) notice
of such event to the Owner Trustee (who shall in turn give written notice thereof to the Certificateholders), the Issuing Entity, the Grantor Trust Trustee, the Grantor Trust, the Administrator, the Asset Representations Reviewer and the
Noteholders. 
 ARTICLE VI 

OPTIONAL PURCHASE; TERMINATION DATE 

SECTION 6.1 Optional Purchase of Trust Estate. On any Distribution Date after the last day of any Collection Period as of which the
Pool Balance is equal to or less than the Optional Purchase Balance, the Servicer shall have the option to purchase (and/or designate one or more other Persons (other than the Seller or its consolidated subsidiaries and parent companies) to
purchase) the Grantor Trust Collateral. To exercise such option, the Servicer shall cause to be deposited in the Collection Account an amount equal to the greater of (x) the lesser of (1) the Agreed Fair Market Value of the Receivables and
(2) the sum of the Principal Balances of the Receivables plus accrued and unpaid interest as of the last day of the related Collection Period where “Agreed Fair Market Value” means the fair market value of the Receivables as
agreed to by the Servicer and a majority of the Voting Interests of the Certificates or, at the sole election of the Servicer, the fair market value of the Receivables as determined by an independent accounting firm or appraisal firm engaged by the
Servicer and (y) the amount necessary to pay in full (after giving effect to the distribution of Available Funds on such Distribution Date) (1) the Outstanding Amount of all Notes (other than the Class XS Notes) including all accrued
and unpaid interest thereon through but excluding the related Distribution Date, (2) the Servicing Strip Amount for the related Collection Period and (3) all amounts then owed to the Grantor Trust Trustee, the Owner Trustee, the Indenture
Trustee, the Servicer, the Collateral Custodian, the Asset Representations Reviewer, the Administrator and the Backup Servicer. The Servicer (or its designee) may deposit the foregoing purchase price net of any Collections deposited into the
Collection Account after the last day of the Collection Period immediately preceding the Distribution Date on which such optional purchase is exercised. Any costs and expenses association with an appraisal by the independent accounting firm or
appraisal firm shall be at the expense of the Issuing Entity. 

  

					
		 	20	  	 CRVNA 2022-P2 Servicing Agreement

 Thereupon, the Servicer shall succeed to all interests of the Grantor Trust, the Issuing
Entity and the Indenture Trustee in and to the property comprising the Grantor Trust Collateral, but not including the Reserve Account which shall remain and be distributed to the Certificateholders pursuant to Section 8.4(b) of the Indenture.
The Indenture Trustee shall distribute the amount deposited pursuant to this Section 6.1 in accordance with Section 2.7(c) of the Indenture on such Distribution Date and the Notes (other than the Class XS Notes)
shall be redeemed pursuant to Section 10.1 of the Indenture. The Servicer shall give notice of such optional purchase to the Paying Agent and the Indenture Trustee sufficient to allow the notices required pursuant to Section 7.1(c) of the
Trust Agreement and Article X of the Indenture to be given. 
 Following the payment in full of the Outstanding Amount of the Notes (other
than the Class XS Notes) and all accrued and unpaid interest thereon, the Certificateholders shall succeed to the rights of the Noteholders hereunder and the Indenture Trustee shall continue to perform all obligations and retain all rights of
the Indenture Trustee pursuant to this Agreement. 
 SECTION 6.2 Termination Date. This Agreement will terminate on the Distribution
Date in the month following the earlier of the final payment or liquidation of all the Receivables or upon the dissolution of the Grantor Trust. 

ARTICLE VII 
 MISCELLANEOUS
PROVISIONS 
 SECTION 7.1 Amendment. 

(a) Any term or provision of this Agreement may be amended by the Servicer without the consent of the Indenture Trustee, the Backup Servicer,
the Issuing Entity, the Grantor Trust, any Noteholder, any Certificateholder the Owner Trustee, the Grantor Trust Trustee or any other Person subject to the satisfaction of one of the following conditions: 

 

	 	(i)	 The Servicer delivers an Opinion of Counsel or an Officer’s Certificate to the Indenture Trustee to the
effect that such amendment will not materially and adversely affect the interests of the Noteholders; 

  

	 	(ii)	 The Rating Agency Condition is satisfied with respect to such amendment; or 

 

	 	(iii)	 To cure any ambiguity, correct or supplement any provision in this Agreement that may be defective or
inconsistent with any other provision in this Agreement or any other Transaction Document or with any description thereof in the Prospectus, the Class N Notes Confidential Offering Memorandum or the Certificate Private Placement Memorandum, or
add to the covenants, restrictions or obligations of the Servicer. 

 (b) This Agreement may also be amended from time to
time by the Servicer, with the consent of the Requisite Noteholders, or if no Notes (other than the Class XS Notes) are Outstanding, the Majority Certificateholders, for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders or the Certificateholders. It will not be necessary for 

  

					
		 	21	  	 CRVNA 2022-P2 Servicing Agreement

 
the consent of Noteholders or Certificateholders 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 and Certificateholders provided for in this Agreement) and of evidencing the authorization of the execution thereof by Noteholders and Certificateholders will be subject to
such reasonable requirements as the Indenture Trustee and Owner Trustee may prescribe, including the establishment of record dates pursuant to the Note Depository Agreement. 

(c) Prior to the execution of any amendment pursuant to this Section 7.1, the Servicer shall provide written
notification of the substance of such amendment to each Rating Agency and the Administrator; and promptly after the execution of any such amendment, the Administrator shall furnish a copy of such amendment to each Rating Agency, the Grantor Trust
Trustee, the Owner Trustee and the Indenture Trustee; provided, that no amendment pursuant to this Section 7.1 shall be effective which materially and adversely affects the rights, protections or duties of the
Indenture Trustee, the Owner Trustee or the Grantor Trust Trustee without the prior written consent of such Person. 
 (d) Prior to the
execution of any amendment to this Agreement 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 an
Officer’s Certificate of the Seller or the Administrator that all conditions precedent to the execution and delivery of such amendment have been satisfied. The Indenture Trustee may, but shall not be obligated to, enter into any such amendment
which materially and adversely affects the Indenture Trustee’s own rights, privileges, indemnities, duties or obligations under this Agreement, the Transaction Documents or otherwise. 

(e) Notwithstanding anything to the contrary herein, an Opinion of Counsel shall be delivered to the Grantor Trust Trustee and the Owner
Trustee to the effect that such amendment would not cause the Issuing Entity or the Grantor Trust to fail to qualify as a grantor trust for United States federal income tax purposes. 

SECTION 7.2 Protection of Title. 

(a) The Servicer shall maintain (or shall cause its Subservicer to maintain) in accordance with its Customary Servicing Practices accounts and
records as to each Receivable accurately and in sufficient detail to permit (i) the reader thereof to know at any time the status of such Receivable, including payments and recoveries made and payments owing (and the nature of each) and
(ii) reconciliation between payments or recoveries on (or with respect to) each Receivable and the amounts from time to time deposited in the Depository Accounts and the Collection Account in respect of such Receivable. 

(b) The Servicer shall maintain (or shall cause its Subservicer to maintain) its computer systems so that, from time to time after the
conveyance of the Receivables to the Grantor Trust and the grant of security interest to the Indenture Trustee, the master computer records (including any backup archives) that refer to a Receivable shall indicate clearly that such Receivable is
owned by the Grantor Trust and has been pledged to the Indenture Trustee on behalf of the Noteholders pursuant to the Indenture. In the event the Backup Servicer has been 

  

					
		 	22	  	 CRVNA 2022-P2 Servicing Agreement

 
appointed as Servicer, the Successor Servicer shall maintain the Receivables on its computer systems in a series of isolated and partitioned branches. Indication of the Grantor Trust’s
interest in a Receivable shall not be deleted from or modified on such computer systems until, and only until, the related Receivable shall have been paid in full, repurchased, purchased or sold. 

(c) If at any time the Servicer shall propose to sell, grant a security interest in or otherwise transfer any interest in motor vehicle
receivables to any prospective purchaser, lender or other transferee, the Servicer shall give to such prospective purchaser, lender or other transferee computer tapes, records or printouts (including any restored from backup archives) that, if they
shall refer in any manner whatsoever to any Receivable, shall indicate clearly that such Receivable has been sold and is owned by the Grantor Trust and has been pledged to the Indenture Trustee on behalf of the Noteholders. 

SECTION 7.3 Notices, Etc. All demands, notices, and communications upon or to the Issuing Entity, the Grantor Trust, the Grantor
Trust Trustee, the Owner Trustee, the Servicer, the Backup Servicer, the Indenture Trustee, the Administrator or each Rating Agency under this Agreement shall be in delivered as specified in Part III of Appendix A to the Indenture. 

SECTION 7.4 Choice of 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 7.5 Headings. The section headings hereof have been inserted for convenience of reference only and shall not be construed to
affect the meaning, construction or effect of this Agreement. 
 SECTION 7.6 Counterparts. This Agreement may be executed in multiple
counterparts. Each counterpart will be an original and all counterparts will together be one document. Delivery of an executed counterpart of this Agreement by email or facsimile shall be effective as delivery of a manually executed counterpart of
this Agreement. This Agreement shall be valid, binding, and enforceable against a party when executed and delivered by an authorized individual on behalf of the party by means of (i) an original manual signature; (ii) a faxed, scanned, or
photocopied manual signature, or (iii) any other electronic signature permitted by the federal Electronic Signatures in Global and National Commerce Act, state enactments of the Uniform Electronic Transactions Act, and/or any other relevant
electronic signatures law, including any relevant provisions of the Uniform Commercial Code (collectively, “Signature Law”), in each case to the extent applicable. Each faxed, scanned, or photocopied manual signature, or other
electronic signature, shall for all purposes have the same validity, legal effect, and admissibility in evidence as an original manual signature. Each party hereto shall be entitled to conclusively rely upon, and shall have no liability with respect
to, any faxed, scanned, or photocopied manual signature, or other electronic signature, of any other party and shall have no duty to investigate, confirm or otherwise verify the validity or authenticity thereof. For the avoidance of doubt, original
manual signatures shall be used for execution or indorsement of writings when required under the UCC or other Signature Law due to the character or intended character of the writings. 

  

					
		 	23	  	 CRVNA 2022-P2 Servicing Agreement

 SECTION 7.7 Waivers. No failure or delay on the part of the Servicer, the Issuing
Entity, the Grantor Trust, the Noteholders, the Certificateholders, 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 any party hereto in any case shall entitle it to any notice or demand in
similar or other circumstances. No waiver or approval by any party hereto 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 7.8 Entire Agreement. The
Transaction Documents contain 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 7.9
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 7.10 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.

 SECTION 7.11 Cumulative Remedies. The remedies herein provided are cumulative and not exclusive of any remedies provided by law.

 SECTION 7.12 Nonpetition Covenant. None of the parties hereto shall petition or otherwise invoke the process of any court or
government authority for the purpose of commencing or sustaining a case against the Issuing Entity or the Grantor Trust under any federal or State bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee,
custodian, sequestrator or other similar official of the Issuing Entity or the Grantor Trust or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Issuing Entity or the Grantor Trust until one
(1) year and one (1) day following the repayment of the Notes. 
 SECTION 7.13 Submission to Jurisdiction; Waiver of Jury
Trial. Each of the parties hereto hereby irrevocably and unconditionally: 

  

					
		 	24	  	 CRVNA 2022-P2 Servicing Agreement

 (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 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 in such
courts and waives any objection that it may now or hereafter have to the venue of such action or Proceeding in any such court or that such action or 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 7.3; 

(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 action, Proceeding or counterclaim based on, or arising out of, under or in connection with this Agreement, any other Transaction Document, or any matter arising hereunder or thereunder. 

SECTION 7.14 Limitation of Liability. It is expressly understood and agreed by the parties hereto that (a) this Agreement is
executed and delivered by each of the Owner Trustee and the Grantor Trust Trustee, not individually or personally but solely as Owner Trustee of the Issuing Entity and Grantor Trust Trustee of the Grantor Trust, respectively, in the exercise of the
powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of each of the Issuing Entity or Grantor Trust, as applicable, is made and intended not as personal
representations, undertakings and agreements by the Owner Trustee or the Grantor Trust Trustee, but is made and intended for the purpose of binding only the Issuing Entity or Grantor Trust, as applicable, (c) nothing herein contained shall be
construed as creating any liability on the Owner Trustee or the Grantor Trust Trustee, individually or personally, to perform any covenant either expressed or implied contained herein of the Issuing Entity or the Grantor Trust, 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) each of the Owner Trustee and the Grantor Trust Trustee has made no investigation as to the accuracy or completeness of
any representations and warranties made by the Issuing Entity or Grantor Trust, as applicable, in this Agreement and (e) under no circumstances shall the either of the Owner Trustee or the Grantor Trust Trustee be personally liable for the
payment of any indebtedness or expenses of the Issuing Entity or Grantor Trust, as applicable, or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuing Entity or Grantor Trust,
as applicable under this Agreement. 

  

					
		 	25	  	 CRVNA 2022-P2 Servicing Agreement

 SECTION 7.15 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 (i) the Owner Trustee and the Grantor Trust Trustee shall be express third party beneficiaries hereof and may enforce the provisions hereof as if
it were a party hereto, (ii) the Depositor shall be an express third party beneficiary of Section 7.16 and may enforce such provisions as if it were a party hereto and (iii) the Sponsor and the Depositor shall be
an express third party beneficiary of Section 4.02(d) and may enforce such provisions as if it were a party hereto. Except as otherwise provided in this Section, no other Person will have any right hereunder. 

SECTION 7.16 Information Requests. The Servicer shall provide to representatives of the Backup Servicer, the Issuing Entity, the
Indenture Trustee, the Owner Trustee, the Grantor Trust Trustee, the Grantor Trust and any Governmental Authority with regulatory oversight authority over the servicing of the Receivables reasonable access consistent with the Servicer’s
compliance procedures relating to data privacy and customer information to documentation and electronic information regarding the Receivables. In each case, such access shall be afforded without charge but only upon reasonable request and during
normal business hours. In addition, each of the Backup Servicer, the Depositor, the Sponsor and the Administrator may provide to the Servicer a reasonable written request for information related to the Receivables and servicing of the Receivables
which information is outside the scope of information specifically to be provided by the Servicer pursuant to this Agreement. The Servicer shall respond to such request within five (5) Business Days or as reasonably shall be agreed between the
Servicer and the Backup Servicer, the Depositor, the Sponsor or the Administrator, as applicable. Any costs and expenses incurred by the Servicer in connection with responding to such request (including internal costs allocated to responding to such
information request) shall be at the expense of the party making such request. Nothing in this Section 7.16 shall derogate from the obligation of the Servicer to observe any Applicable Law prohibiting disclosure of
information regarding the Obligors, and the failure of the Servicer to provide access as provided in this Section 7.16 as a result of such obligation to observe Applicable Law shall not constitute a breach of this
Section 7.16. The Servicer shall permit the Grantor Trust, the Issuing Entity, the Indenture Trustee, the Backup Servicer, any Governmental Authority with regulatory oversight authority over the servicing of the Receivables
and their respective agents at any time upon reasonable notice, during regular business hours and in accordance with Applicable Law prohibiting disclosure of information regarding the Obligors and the Servicer’s compliance procedures relating
to data privacy and customer information, to inspect, audit, and make copies of and abstracts from the Servicer’s records regarding any Receivables. Any expenses incurred by the Servicer, the Backup Servicer, the Issuing Entity, the Indenture
Trustee, and the Owner Trustee, the Grantor Trust Trustee and the Grantor Trust shall be reimbursable by the Issuing Entity in accordance with Section 2.7 of the Indenture. 

[Signatures Follow] 

  

					
		 	26	  	 CRVNA 2022-P2 Servicing Agreement

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

			
	BRIDGECREST CREDIT COMPANY, LLC,
	as Servicer
		
	By:	 	 /s/ Daniel Gaudreau

	Name:	 	Daniel Gaudreau
	Title:	 	Chief Financial Officer

  

					
		 	S-1	  	 CRVNA 2022-P2 Servicing Agreement

 
			
	CARVANA AUTO RECEIVABLES TRUST 2022-P2
		
	By:	 	BNY Mellon Trust of Delaware, not in its individual capacity but solely as Owner Trustee
		
	By:	 	 /s/ Kristine K. Gullo

	Name:	 	Kristine K. Gullo
	Title:	 	Vice President
	
	CARVANA AUTO RECEIVABLES GRANTOR TRUST 2022-P2, as Grantor Trust
		
	By:	 	BNY Mellon Trust of Delaware, not in its individual capacity but solely as Grantor Trust Trustee
		
	By:	 	 /s/ Kristine K. Gullo

	Name:	 	Kristine K. Gullo
	Title:	 	Vice President

  

					
		 	S-2	  	 CRVNA 2022-P2 Servicing Agreement

 
			
	COMPUTERSHARE TRUST COMPANY, NATIONAL ASSOCIATION, not in its individual capacity but solely as Indenture Trustee
		
	By:	 	 /s/ Jeanine C. Casey

	Name:	 	Jeanine C. Casey
	Title:	 	Vice President
	
	VERVENT INC., as Backup Servicer
		
	By:	 	 /s/ Louis W. Geibel

	Name:	 	Louis W. Geibel
	Title:	 	Executive Vice President

  

					
		 	S-3	  	 CRVNA 2022-P2 Servicing Agreement

 EXHIBIT A 

FORM OF SERVICER’S CERTIFICATE 

[On file with Servicer] 

  

					
		 	Exhibit A-1	  	 CRVNA 2022-P2 Servicing Agreement

 EXHIBIT B 

SERVICING CRITERIA TO BE ADDRESSED IN 

SERVICER’S ASSESSMENT OF COMPLIANCE 

The assessment of compliance to be delivered by the Servicer shall address, at a minimum, the criteria identified below as “Servicer
Applicable Servicing Criteria”: 
  

					
	 Servicing Criteria
	  	 Servicer

Applicable
Servicing Criteria

	 Reference
	  	 Criteria

		  	General Servicing Considerations	  	
			
	1122(d)(1)(i)	  	Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements.	  	X
			
	1122(d)(1)(ii)	  	If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities.	  	X
			
	1122(d)(1)(iii)	  	Any requirements in the transaction agreements to maintain a back-up servicer for the pool assets are maintained.	  	
			
	1122(d)(1)(iv)	  	A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of
the transaction agreements.	  	
			
	1122(d)(1)(v)	  	 Aggregation of information, as applicable, is mathematically

accurate and the information conveyed accurately reflects
 the
information.
	  	X
			
		  	Cash Collection and Administration	  	
			
	1122(d)(2)(i)	  	Payments on pool assets are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction
agreements.	  	X
			
	1122(d)(2)(ii)	  	Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.	  	
			
	1122(d)(2)(iii)	  	Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements.	  	
			
	1122(d)(2)(iv)	  	The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the
transaction agreements.	  	
			
	1122(d)(2)(v)	  	Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a
foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act.	  	
			
	1122(d)(2)(vi)	  	Unissued checks are safeguarded so as to prevent unauthorized access.	  	
			
	1122(d)(2)(vii)	  	Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate;
(B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation;
and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements.	  	X

  

					
		 	Exhibit B-1	  	 CRVNA 2022-P2 Servicing Agreement

					
	 Servicing Criteria
	  	 Servicer

Applicable
Servicing Criteria

	 Reference
	  	 Criteria

		  	Investor Remittances and Reporting	  	
			
	1122(d)(3)(i)	  	Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in
accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by
its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of pool assets serviced by the Servicer.	  	X1
			
	1122(d)(3)(ii)	  	Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements.	  	X2
			
	1122(d)(3)(iii)	  	Disbursements made to an investor are posted within two business days to the Servicer’s investor records, or such other number of days specified in the transaction agreements.	  	
			
	1122(d)(3)(iv)	  	Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.	  	
			
		  	Pool Asset Administration	  	
			
	1122(d)(4)(i)	  	Collateral or security on pool assets is maintained as required by the transaction agreements or related asset pool documents.	  	
			
	1122(d)(4)(ii)	  	Pool assets and related documents are safeguarded as required by the transaction agreements	  	
			
	1122(d)(4)(iii)	  	Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements.	  	X
			
	1122(d)(4)(iv)	  	Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the Servicer’s obligor records maintained no more than two business days after receipt, or such other number
of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related asset pool documents.	  	X
			
	1122(d)(4)(v)	  	The Servicer’s records regarding the accounts and the accounts agree with the Servicer’s records with respect to an obligor’s unpaid principal balance.	  	X
			
	1122(d)(4)(vi)	  	Changes with respect to the terms or status of an obligor’s account (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the
transaction agreements and related pool asset documents.	  	X
			
	1122(d)(4)(vii)	  	Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or
other requirements established by the transaction agreements.	  	X
			
	1122(d)(4)(viii)	  	Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period
specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g.,
illness or unemployment).	  	X
			
	1122(d)(4)(ix)	  	Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on the related pool asset documents.	  	

  

	1 	 Other than (c). 

	2 	 Only with respect to remittances to Indenture Trustee. 

  

					
		 	Exhibit B-2	  	 CRVNA 2022-P2 Servicing Agreement

					
	 Servicing Criteria
	  	 Servicer

Applicable
Servicing Criteria

	 Reference
	  	 Criteria

	1122(d)(4)(x)	  	Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s Account documents, on at least an annual basis, or such other period specified in the
transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable Account documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment
of the related Accounts, or such other number of days specified in the transaction agreements.	  	
			
	1122(d)(4)(xi)	  	Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support
has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.	  	
			
	1122(d)(4)(xii)	  	Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or
omission.	  	
			
	1122(d)(4)(xiii)	  	Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements.	  	
			
	1122(d)(4)(xiv)	  	Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.	  	X
			
	1122(d)(4)(xv)	  	Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements.	  	

  

					
		 	Exhibit B-3	  	 CRVNA 2022-P2 Servicing Agreement

 Schedule I 

Free Writing Prospectuses 

(as contemplated by Section 4.2(d)) 

N/A. 

  

					
		 	Schedule I-1	  	 CRVNA 2022-P2 Servicing Agreement

 Schedule II 

Information Provided by the Servicer 

(as contemplated by Section 4.2(d)) 

Asset-level information provided pursuant to Section 2.8(c). 

  

					
		 	Schedule II-1	  	 CRVNA 2022-P2 Servicing AgreementEX-10.5

 Exhibit 10.5 
  

 
  

BACKUP SERVICING AGREEMENT 

CARVANA AUTO RECEIVABLES TRUST 2022-P2, 

as Issuing Entity 
 and 

CARVANA AUTO RECEIVABLES GRANTOR TRUST 2022-P2, 

as Grantor Trust 
 and 

BRIDGECREST CREDIT COMPANY, LLC, 

as Servicer 
 and 

VERVENT INC. 
 as Backup Servicer

  
  

Dated as of May 25, 2022 
  

 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	 1.
	 	DEFINITIONS	  	 	1	 
			
	 2.
	 	APPOINTMENT	  	 	2	 
			
	 3.
	 	DUTIES OF BACKUP SERVICER	  	 	2	 
			
	 4.
	 	BACKUP SERVICER’S FEES	  	 	3	 
			
	 5.
	 	CONSULTATION REQUIREMENTS	  	 	3	 
			
	 6.
	 	ACCESS TO RECORDS	  	 	3	 
			
	 7.
	 	REPRESENTATIONS AND WARRANTIES	  	 	4	 
			
	 8.
	 	INDEMNITY	  	 	5	 
			
	 9.
	 	LIMITATION OF LIABILITY	  	 	6	 
			
	 10.
	 	RESIGNATION AND REMOVAL	  	 	8	 
			
	 11.
	 	TERMINATION.	  	 	8	 
			
	 12.
	 	CONFIDENTIAL INFORMATION	  	 	9	 
			
	 13.
	 	COUNTERPARTS; ELECTRONIC SIGNATURES	  	 	9	 
			
	 14.
	 	GOVERNING LAW	  	 	10	 
			
	 15.
	 	[RESERVED	  	 	10	 
			
	 16.
	 	NOTICES	  	 	10	 
			
	 17.
	 	FURTHER ASSURANCES	  	 	10	 
			
	 18.
	 	ASSIGNMENT	  	 	11	 
			
	 19.
	 	AMENDMENT	  	 	11	 
			
	 20.
	 	THIRD PARTY BENEFICIARIES	  	 	12	 
			
	 21.
	 	NON-PETITION	  	 	12	 
			
	 22.
	 	CONCERNING THE TRUSTEE AND TRUST OBLIGATIONS	  	 	12	 
			
	 23.
	 	RECOURSE AGAINST CERTAIN PARTIES	  	 	13	 
			
	 24.
	 	INFORMATION TO BE PROVIDED BY THE BACKUP SERVICER	  	 	13	 

  
 -i- 

CRVNA 2022-P2 Backup Servicing Agreement 

 BACKUP SERVICING AGREEMENT 

This BACKUP SERVICING AGREEMENT, dated as of May 25, 2022 (this “Agreement”), is entered into by and among CARVANA
AUTO RECEIVABLES TRUST 2022-P2, in its capacity as a client (the “Issuing Entity”), CARVANA AUTO RECEIVABLES GRANTOR TRUST 2022-P2, in its
capacity as a client (the “Grantor Trust”, together with the Issuing Entity, the “Clients,” and each individually, a “Client”), BRIDGECREST CREDIT COMPANY, LLC, an Arizona limited liability
company, in its capacity as servicer (the “Servicer”), and VERVENT INC., a Delaware corporation (the “Backup Servicer”). 

WHEREAS, Issuing Entity owns 100% of the beneficial interests in the Grantor Trust and the Grantor Trust owns a portfolio of automobile
retail installment contracts (the “Receivables”) and such Receivables are serviced by the Servicer (the “Serviced Receivables”); 

WHEREAS, the Grantor Trust has pledged the Receivables, and the Issuing Entity has pledged the Grantor Trust Certificate, each pursuant
to the Indenture, dated as of May 25, 2022 (the “Indenture”), among the Issuing Entity, the Grantor Trust and Computershare Trust Company, National Association, as indenture trustee (the “Indenture Trustee”),
as collateral securing among other things, the Notes issued thereunder (the “Obligations”); 
 WHEREAS, Backup
Servicer is engaged in the business of primary and backup servicing of leases, loans and other financial transactions; 
 WHEREAS,
each Client and Servicer desire that Backup Servicer perform certain backup servicing duties in accordance with the terms of this Agreement, and assume the role of Successor Servicer (as defined below) if the Servicer is terminated under the
Servicing Agreement, dated as of May 25, 2022 (the “Servicing Agreement”), among the Issuing Entity, the Grantor Trust, the Servicer, the Indenture Trustee, and the Backup Servicer; and 

WHEREAS, the Backup Servicer is willing to perform the backup servicing duties specified herein and to assume the role of Successor
Servicer if so appointed under the terms of the Servicing Agreement pursuant to the conditions described therein and herein. 
 NOW,
THEREFORE, in consideration of the mutual agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, each Client, Servicer and the Backup Servicer hereby agree
as follows: 
 1. Definitions. All capitalized terms not otherwise defined herein shall have the meanings set forth in Part I of Appendix A to the
Receivables Purchase Agreement, dated as of the date hereof (the “Receivables Purchase Agreement”), among Carvana, LLC as the seller and Carvana Receivables Depositor LLC as the purchaser. The rules of construction set forth in Part
II of such Appendix A shall be applicable to this Agreement. 

  

					
		 	1	  	CRVNA 2022-P2 Backup Servicing Agreement

 2. Appointment. 

(a) Each Client, Backup Servicer and Servicer hereby agree that any time during the period beginning on the date hereof and
ending on the date on which this Agreement is terminated (such period, the “Appointment Period”), following the termination or resignation of the Servicer as the Servicer under the Servicing Agreement, the Backup Servicer shall be
appointed as the successor servicer (the “Successor Servicer”). Within 30 days of receipt of notice from the Indenture Trustee (the “Appointment Effective Date”) that, pursuant to Section 5.1 of the Servicing
Agreement, the Servicer has been terminated under the Servicing Agreement, or the Servicer has resigned under the Servicing Agreement, Backup Servicer shall assume the duties and rights of the Servicer under the Servicing Agreement, subject to the
Servicing Agreement Exceptions (as defined below). 
 (b) Backup Servicer hereby agrees that in the event that Backup
Servicer becomes a Successor Servicer during the Appointment Period, (i) Backup Servicer shall be ready, willing and able to assume, and shall assume, Servicer’s responsibilities under the Servicing Agreement, (ii) Backup Servicer
shall be entitled to receive the Servicing Fee and reimbursement for any unpaid indemnity amounts and any unpaid transition expenses incurred by it in connection with the transfer of servicing to Backup Servicer (including any boarding fees or other
expenses payable to Backup Servicer), in each case, solely as set forth in the Indenture and (iii) all fees set forth herein, including the Backup Servicing Fee, shall no longer be payable to Backup Servicer. Upon the Backup Servicer’s
appointment as Successor Servicer, the Backup Servicer shall be entitled to receive a one-time servicing transfer free not to exceed $150,000 in the aggregate. 

(c) Notwithstanding anything to the contrary in this Agreement, Backup Servicer shall not be obliged to assume the duties and
rights of the Servicer under the Servicing Agreement if the Servicer has failed to perform its obligation under Section 3(b) with respect to the calendar month prior to the Backup Servicer’s appointment as Successor
Servicer. 
 (d) The “Servicing Agreement Exceptions” shall be: The Collection Policy shall be the then current
collection policies of the Backup Servicer for servicing automobile retail installment contracts similar to the Receivables. 
 3. Duties of Backup
Servicer. 
 (a) In furtherance of its undertaking in Section 2 above, from and after the date
hereof until the Appointment Effective Date, Backup Servicer agrees to perform the Backup Servicer functions as set forth in this Section 3. On and after the Appointment Effective Date, Backup Servicer, as Successor
Servicer, shall serve as “Servicer” under the Servicing Agreement. 
 (b) On or before 10 a.m. Pacific Time three
Business Days following the end of each calendar month, Servicer shall transfer to Backup Servicer a detailed master file in computer readable format as reasonably agreed to by Servicer and Backup Servicer (the “Monthly Master
File”) for the Serviced Receivables as of the last day of the preceding calendar month, and Backup Servicer shall maintain and store such master file on a secure FTP site. 

  

					
		 	2	  	CRVNA 2022-P2 Backup Servicing Agreement

 (c) Within five (5) business days of receipt of the Monthly Master
File, Backup Servicer shall load the information from the Monthly Master File into Backup Servicer’s data system and provide each Client and the Indenture Trustee with a certificate stating that the Monthly Master File has been received, is in
an acceptable format and Backup Servicer is able to begin servicing of the Serviced Receivables within 30 days of receipt of the Monthly Master File. 

(d) Backup Servicer shall receive and review the Servicer’s Certificate related to such Monthly Master File. Backup
Servicer shall verify the information set forth on Exhibit A hereto, to the extent such information is contained in the Monthly Master File. The verification shall compare the information on the Servicer’s Certificate to the information
on Backup Servicer’s data system using the Monthly Master File. 
 (e) Within five (5) business days of receipt of
the Monthly Master File, Backup Servicer will deliver to Servicer, Indenture Trustee and each Client a notice either (i) certifying that it has confirmed the accuracy of the information specified in Exhibit A in the Servicer’s
Certificate related to such Monthly Master File, as described above, or (ii) describing any discrepancies discovered in the information specified in Exhibit A hereto contained in the Servicer’s Certificate related to such Monthly
Master File. 
 (f) Servicer agrees to provide Backup Servicer with any information that the Servicer has in its possession
(or is able to obtain without undue effort or expense) Backup Servicer may reasonably request that is necessary to perform its obligations hereunder. 

(g) Servicer agrees that no information shall be transferred to Backup Servicer that would be restricted under the Payment Card
Industry Data Security Standard (PCI). 
 (h) Except as provided herein, Backup Servicer shall have no obligation to
supervise, verify, monitor or administer the performance of the Servicer and shall have no liability for any action taken or omitted by the Servicer. 
 4.
Backup Servicer’s Fees. In connection with this Agreement, Issuing Entity shall pay Backup Servicer the fees set forth in Exhibit B attached hereto in accordance with Section 2.7 of the Indenture. 

5. Consultation Requirements. Servicer shall consult fully with Backup Servicer as may be reasonably necessary from time to time for Backup Servicer to
perform or carry out its obligations hereunder. 
 6. Access to Records. 

(a) Backup Servicer shall afford to Issuing Entity, Grantor Trust, Indenture Trustee and Servicer and their respective employees, accountants
and counsel, reasonable access at reasonable times during normal business hours to books, records, documents and other information concerning the conduct and performance of Backup Servicer of its obligations hereunder. 

  

					
		 	3	  	CRVNA 2022-P2 Backup Servicing Agreement

 (b) Servicer shall afford access to Backup Servicer to visit the personnel, offices and
property of Servicer or any of its Affiliate delegatees, for the purposes of examining books, records, documents and other information in possession or under control of Servicer or any of its Affiliate delegatees relating to the Receivables and
other related property. Additionally, the Backup Servicer may visit the Servicer to discuss any changes in its Collection Policy on an annual basis. Such visits may only be made upon reasonable request and during normal business hours and in
accordance with Applicable Law prohibiting disclosure of information regarding the Obligors. 
 7. Representations and Warranties. Backup Servicer
hereby makes the following representations, warranties and covenants as of the date hereof: 
 (a) Organization and Good
Standing. It is a corporation duly organized, validly existing and in good standing under the laws of the state of Delaware. It has all licenses, permits and authorizations necessary to transact the business in which it is presently engaged and
that are required to perform its services hereunder. 
 (b) Due Qualification. It is duly qualified to do business
and, where necessary, is in good standing as a foreign corporation (or is exempt from such requirements), except where the failure to so qualify or obtain such approvals would not have a material adverse effect on its ability to perform its
obligations under this Agreement. 
 (c) Due Authorization. It has duly authorized, by all necessary action on its
part, the execution and delivery of this Agreement and the consummation of the transactions provided for or contemplated by this Agreement. 

(d) No Conflict. Its execution and delivery of this Agreement, its performance of the transactions contemplated by this
Agreement and the fulfillment of the terms hereof applicable to it will not conflict with, result in any breach of any of the material terms and provisions of, or constitute (with or without notice or lapse of time or both) a default under, any
material indenture, contract, agreement, mortgage, deed of trust or other instrument to which it is a party or by which it or its properties are bound. 

(e) No Violation. Its execution and delivery of this Agreement, its performance of the transactions contemplated by this
Agreement and its fulfillment of the terms hereof applicable to it (i) will not conflict with or violate the organizational documents of the Backup Servicer, (ii) will not conflict with or constitute a default under any applicable
provision in any material agreement, contract or other instrument to which the Backup Servicer is a party or by which the Backup Servicer or its properties are bound, and (iii) will not conflict with or violate any law, judgment or governmental
rule, regulation or order applicable to it. 
 (f) No Proceedings. There are no proceedings pending or, to the best of
its knowledge, threatened or investigations pending or threatened against it before or by any governmental authority (i) asserting the invalidity of this Agreement, (ii) seeking to prevent the consummation of any of the transactions
contemplated by this Agreement, (iii) seeking any determination or ruling that, in its reasonable judgment, would materially and adversely affect its performance of its obligations under this Agreement or (iv) seeking any determination or
ruling that would materially and adversely affect the validity or enforceability of this Agreement. 

  

					
		 	4	  	CRVNA 2022-P2 Backup Servicing Agreement

 (g) All Consents Required. All material authorizations, consents,
orders, approvals or other actions of any governmental authority required to be obtained or effected by it in connection with its execution and delivery of this Agreement, its performance of the transactions contemplated by this Agreement and the
fulfillment of the terms hereof applicable to it have been duly obtained or effected and are in full force and effect. 
 (h)
Enforceability. This Agreement constitutes its legal, valid and binding obligation, enforceable against it in accordance with the terms hereof, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium or other similar laws now or hereinafter in effect affecting the enforcement of creditors’ rights and except as such enforceability may be limited by general principles of equity (whether considered in a proceeding at law or in
equity). 
 8. Indemnity. 

(a) The Issuing Entity agrees to defend, indemnify and hold Backup Servicer and any officers, managers, members, employees or
agents of Backup Servicer harmless against any and all claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments, and any other costs, fees, and expenses (collectively, “Losses”) that Backup Servicer may
sustain under this Agreement in connection with claims asserted at any time by third parties against Backup Servicer arising out of this Agreement (but not, for the avoidance of doubt, from any Losses after its appointment as the Successor Servicer
that arise out of such appointment or with respect to its duties as Successor Servicer except as set forth in the Servicing Agreement), unless such Losses are the result of (i) the breach of this Agreement or any other Transaction Document by
Backup Servicer, (ii) Backup Servicer’s failure to comply with requirements of applicable federal, state and local laws and regulations, in performing its duties as Backup Servicer hereunder, (iii) the gross negligence, bad faith or
willful misconduct of Backup Servicer or (iv) any failure of the representations and warranties made by Backup Servicer hereunder or, in connection herewith to be true and correct in all material respects when made; provided that such
indemnities shall only be payable pursuant to Section 2.7 of the Indenture. The indemnities in this Section 8 shall include reasonable and documented attorneys’ fees and expenses of external counsel in connection
with the successful enforcement of their indemnification rights hereunder and shall survive the termination of this Agreement or the removal or resignation of Backup Servicer. 

(b) Backup Servicer agrees to defend, indemnify and hold each of the Issuing Entity, the Owner Trustee, the Grantor Trust, the
Grantor Trust Trustee, the Indenture Trustee and the Servicer and their respective shareholders, members, managers, directors, affiliates, assignees, agents, and employees harmless from and against any and all Losses directly arising from
(i) Backup Servicer’s gross negligence, bad faith or willful misconduct, (ii) Backup Servicer’s material breach of this Agreement (including any failure of the representations and warranties made by Backup Servicer hereunder or
in connection herewith or any other Transaction Document, to be true and correct in all 

  

					
		 	5	  	CRVNA 2022-P2 Backup Servicing Agreement

 
material respects), (iii) Backup Servicer’s failure to comply with requirements of applicable federal, state and local laws and regulations or its standard operating procedures in performing
its duties hereunder or (iv) any action or omission by the Backup Servicer that compromises the confidentiality or security of Confidential Information (as defined in Section 12). Such indemnification shall include
reasonable and documented legal fees and expenses of external counsel in connection with the successful enforcement of their indemnification rights hereunder and shall survive the termination or assignment of this Agreement and the resignation or
removal of any indemnified party. 
 9. Limitation of Liability. 

(a) In conjunction with Backup Servicer’s obligations hereunder, Backup Servicer is authorized to accept and rely on all
the accounting, records and work of the Servicer, and Backup Servicer shall have no duty, responsibility, obligation, or liability for the acts or omissions of Servicer. The degree of examination of such accounting, records, and work which Backup
Servicer deems necessary to complete any conversion and portfolio transfer in connection with Backup Servicer becoming a Successor Servicer shall not be construed as a representation by Backup Servicer of the accuracy of such accounting, records,
and work. 
 (b) Neither Backup Servicer nor any of its members, managers, officers, employees or agents will be under any
liability to Servicer, the Issuing Entity, Indenture Trustee or the Grantor Trust or any other Person for any action taken or for refraining from the taking of any action in the capacity as Backup Servicer under this Agreement whether arising from
express or implied duties under this Agreement; provided, however, that this provision does not protect Backup Servicer or any such Person against any liability that would otherwise be imposed by reason of (i) the gross negligence, bad
faith or willful misconduct of Backup Servicer, (ii) the breach of this Agreement or any other Transaction Document by Backup Servicer, (iii) any failure of the representations and warranties made by Backup Servicer hereunder or under any
other Transaction Document or in connection herewith or therewith to be true and correct when made, (iv) the failure of Backup Servicer or such Person to comply with requirements of applicable federal, state and local laws and regulations or
its standard operating procedures in performing its duties hereunder or (v) any action or omission by the Backup Servicer or such Person that compromises the confidentiality or security of Confidential Information. Backup Servicer and any of
its members, managers, officers, employees or agents 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. 

(c) Backup Servicer will have no responsibility and will not be in default hereunder or incur any liability for any failure,
error, malfunction or any delay in carrying out any of its duties under this Agreement to the extent such failure, error, malfunction or delay results from Backup Servicer acting in accordance with information prepared or supplied by any Person
other than Backup Servicer or the failure of any such other Person to prepare or provide such information. In the event Backup Servicer becomes aware of errors, which in the opinion of Backup Servicer, impairs its ability to perform its services
hereunder, Backup Servicer shall immediately notify the Servicer of such errors. Backup 

  

					
		 	6	  	CRVNA 2022-P2 Backup Servicing Agreement

 
Servicer will have no responsibility, will not be in default and will incur no liability for (i) any act or failure to act of any third party, including the Servicer, (ii) any
inaccuracy or omission in a notice or communication received by Backup Servicer from any third party, (iii) the invalidity or unenforceability of any Serviced Receivable under applicable law, (iv) the breach or inaccuracy of any
representation or warranty made with respect to any Serviced Receivable, or (v) the acts or omissions of any successor Backup Servicer, in each case, except to the extent arising out of the gross negligence of, willful misconduct of, or breach
of this Agreement by the Backup Servicer. Except for the obligations undertaken by Backup Servicer in this Agreement, Backup Servicer will have no obligation to take any action, or to perform any of the duties of the Servicer until such time as
Backup Servicer has become the Successor Servicer. 
 (d) Backup Servicer offers no representations concerning, and shall
have no liability hereunder with respect to, the collectability, enforceability or other characteristics of the Serviced Receivables. Backup Servicer shall have no responsibility and shall not be in default hereunder nor incur any liability for any
failure, error, malfunction or any delay in carrying out any of its duties under this Agreement if any such failure, error, malfunction or delay results from Backup Servicer acting in accordance with applicable laws, regulations or rules or from
acts of God, war or terrorism, insurrection, strikes, stoppages of labor, power or equipment failure or malfunction (including that of any common carrier or transmission line), loss or malfunction of communications or computer (hardware or software)
services, emergency conditions, tornado, flood, fire, earthquake or similar event, adverse weather conditions or any other factor, medium, instrumentality or any cause or circumstances, directly or indirectly, where such cause or circumstance is
beyond Backup Servicer’s control or for information prepared or supplied by a Person other than Backup Servicer as contemplated hereunder or the failure of any such Person to prepare or provide such information. 

(e) EXCEPT AS EXPRESSLY SET FORTH HEREIN, THERE ARE NO WARRANTIES MADE BY BACKUP SERVICER, EXPRESS OR IMPLIED, INCLUDING, BUT
NOT LIMITED TO, ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. NOTWITHSTANDING ANYTHING IN THIS AGREEMENT TO THE CONTRARY, IN NO EVENT SHALL ISSUING ENTITY, GRANTOR TRUST, BACKUP SERVICER OR THE SERVICER BE LIABLE FOR
ANY CONSEQUENTIAL, PUNITIVE, INCIDENTAL OR SPECIAL DAMAGES INCLUDING, BUT NOT LIMITED TO DAMAGES FOR LOSS OF CURRENCY, FUNDS, DATA, PROFITS OR GOODWILL, REGARDLESS OF WHETHER ISSUING ENTITY, GRANTOR TRUST, BACKUP SERVICER OR THE SERVICER HAS BEEN
ADVISED OF THE LIKELIHOOD OF SUCH LOSS OR DAMAGE AND REGARDLESS OF THE FORM OF ACTION. 

  

					
		 	7	  	CRVNA 2022-P2 Backup Servicing Agreement

 10. Resignation and Removal.  

Vervent Inc. may not resign as Backup Servicer except upon a determination that by reason of a change in applicable law the performance of its
obligations as Backup Servicer under this Agreement is no longer permissible under Applicable Law in a manner which would result in a material adverse effect on the Backup Servicer, and Indenture Trustee, at the direction of the majority of the
Holders of the Notes of the Controlling Class, does not (i) elect to waive the obligations of Backup Servicer to perform the duties that render it legally unable to act or (ii) allow Backup Servicer to delegate those duties to another
Person. Any determination permitting the resignation of Backup Servicer must be in the reasonable determination of the Backup Servicer and shall be accompanied by an Opinion of Counsel, by outside counsel reasonably acceptable to each Client, as to
the Applicable Law that would be violated, delivered to each Client and the Indenture Trustee. No resignation or removal of Vervent Inc. as Backup Servicer shall relieve Vervent Inc. of any liability to which it has previously become subject as
Backup Servicer under this Agreement. 
 11. Termination. 

(a) This Agreement may be terminated by the Indenture Trustee, at the direction of the majority of the Holders of the Notes of
the Controlling Class, upon the occurrence of any of the following conditions and following one hundred twenty (120) days’ notice to the Backup Servicer and the Rating Agencies: 

(i) Backup Servicer shall admit in writing its inability to pay its debts generally as they become due, file a petition to take
advantage of any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend payment of its obligations; or 

(ii) Backup Servicer commits a material breach of this Agreement (including any failure of the representations and warranties
made by the Backup Servicer hereunder or in connection with any other Transaction Document, to be true and correct in all material respects) which has not been cured within sixty (60) days of the Indenture Trustee’s written notice of said
breach, acting at the direction of the majority of the Holders of the Notes of the Controlling Class. 
 (b) This Agreement
will be automatically and immediately terminated upon the occurrence of any of the following conditions: 
 (i) The Notes
(other than the Class XS Notes) and the Certificates have been paid in full; or 
 (ii) Backup Servicer becomes the
Successor Servicer pursuant to Section 2; or 
 (iii) The entry with respect to Backup Servicer of
a decree or order for relief by a court or agency or supervisory authority having jurisdiction under any present or future federal or state bankruptcy, insolvency or similar law; or 

  

					
		 	8	  	CRVNA 2022-P2 Backup Servicing Agreement

 (iv) A conservator, receiver or liquidator is appointed with respect to
Backup Servicer in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings. 
 12. Confidential
Information. Backup Servicer will preserve the confidentiality of any non-public information obtained by it in connection with its performance of its responsibilities hereunder, which shall include any
information concerning the Serviced Receivables or the customers, trade secrets, methods, processes or procedures, or financial or business information of the other Parties or the terms of the Transaction Documents or the parties thereto
(“Confidential Information”); provided, however, that nothing herein shall prevent Backup Servicer from disclosing such information to (a) Backup Servicer’s managers, officers, members, employees, agents,
subservicers and professional consultants in connection with Backup Servicer’s obligations under this Agreement; provided that such Persons are obligated by contractual or professional obligations to maintain the confidentiality of such
Confidential Information, (b) any federal or state regulatory agency having jurisdiction over Backup Servicer, provided that the information provided is responsive to any legally enforceable request for such information, (c) any
federal or state regulatory agency or governmental authority to which such disclosure is required (1) to effect compliance with any law, rule, regulation or order applicable to Backup Servicer, (2) in response to any subpoena or legal
process, (3) in connection with any litigation or adversary proceedings to which Backup Servicer or any other party hereto is a party, or (4) as required to execute and administer this Agreement or (d) to the extent such information
becomes public through no act or fault of Backup Servicer. In the case of any disclosure permitted by clause (b) or (c), Backup Servicer shall use commercially reasonable efforts to (x) provide Servicer, each Client and Indenture Trustee
with advance notice of any such disclosure and (y) cooperate with Servicer, each Client and Indenture Trustee in limiting the extent or effect of any such disclosure. To the extent that any information provided to the Backup Servicer in
connection with this Agreement meets the definition of “non-public personal information” as that term is defined in Title V of the Gramm-Leach-Bliley Act, 15 U.S.C. Section 6801 et seq. (the
“GLB Act”) and/or is subject to protection under any federal or state statute, rule, regulation or guideline relating to privacy (including, but not limited to, the GLB Act and each federal or state rule, regulation or guideline
implementing requirement of that statute) (“NPI Rules”), the Backup Servicer shall treat such information as confidential in accordance with the terms of the GLB Act and the NPI Rules. The Backup Servicer hereby represents and
warrants that it maintains an information security program that is reasonable and in compliance with Applicable Law. This Section 12 shall survive the termination of this Agreement or the removal or resignation of Backup
Servicer. 
 13. Counterparts; Electronic Signatures. This Agreement may be executed in multiple counterparts. Each counterpart will be an original
and all counterparts will together be one document. Delivery of an executed counterpart of this Agreement by email or facsimile shall be effective as delivery of a manually executed counterpart of this Agreement. This Agreement shall be valid,
binding, and enforceable against a party when executed and delivered by an authorized individual on behalf of the party by means of (i) an original manual signature; (ii) a faxed, scanned, or photocopied manual signature, or (iii) any
other electronic signature permitted by the federal Electronic Signatures in Global and National Commerce Act, state enactments of the Uniform Electronic Transactions Act, and/or any other relevant electronic signatures law, including any relevant
provisions of the Uniform Commercial Code (collectively, “Signature Law”), in each case to the extent applicable. Each faxed, scanned, or photocopied manual signature, or other electronic

  

					
		 	9	  	CRVNA 2022-P2 Backup Servicing Agreement

 
signature, shall for all purposes have the same validity, legal effect, and admissibility in evidence as an original manual signature. Each party hereto shall be entitled to conclusively rely
upon, and shall have no liability with respect to, any faxed, scanned, or photocopied manual signature, or other electronic signature, of any other party and shall have no duty to investigate, confirm or otherwise verify the validity or authenticity
thereof. For the avoidance of doubt, original manual signatures shall be used for execution or indorsement of writings when required under the UCC or other Signature Law due to the character or intended character of the writings. 

14. Governing Law. THE AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF
THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, EXCEPT TO THE EXTENT PREEMPTED BY FEDERAL LAW, WITHOUT REGARD TO ITS CONFLICTS OF LAWS (OTHER THAN SECTIONS
5-1401 AND 15-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 
 EACH OF
THE PARTIES HERETO HEREBY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK. EACH OF THE PARTIES HERETO HEREBY WAIVES ANY OBJECTION BASED ON FORUM NON CONVENIENS, AND ANY
OBJECTION TO VENUE OF ANY ACTION INSTITUTED HEREUNDER IN ANY OF THE AFOREMENTIONED COURTS AND CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY SUCH COURT. 

EACH OF THE PARTIES HERETO WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, BETWEEN
THEM ARISING OUT OF, CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP BETWEEN THEM IN CONNECTION WITH THIS AGREEMENT. INSTEAD, ANY SUCH DISPUTE RESOLVED IN COURT WILL BE RESOLVED IN A BENCH TRIAL WITHOUT A JURY. 

15. [Reserved.] 
 16. Notices. All notices, demands,
instructions and other communications required or permitted under this Agreement must be in writing and will be deemed to have been duly given upon delivery or, in the case of a letter mailed by registered first class mail, postage prepaid, three
days after deposit in the mail. Unless otherwise specified in a notice sent in accordance with the provisions of this section, notices, demands, instructions and other communications in writing will be given to the respective parties at their
respective addresses specified in Part III of Appendix A to the Receivables Purchase Agreement. 
 17. Further Assurances. Each Client, Servicer and
Backup Servicer agree to do and perform, from time to time, any and all acts and to execute any and all further instruments required or reasonably requested by the other parties hereto in order to effect more fully the purposes of this Agreement.

  

					
		 	10	  	CRVNA 2022-P2 Backup Servicing Agreement

 18. Assignment. Notwithstanding anything to the contrary contained herein, this Agreement, or any
rights or obligations hereunder, shall not be assigned by any party hereto without the prior written consent of the other parties hereto and the Indenture Trustee. Notwithstanding the foregoing, the parties hereto consent to the pledge and
assignment by each Client to the Indenture Trustee of each such Client’s rights under this Agreement. 
 19. Amendment. 

(a) This Agreement may be amended by each Client, the Servicer and the Backup Servicer, without the consent of any of the
Noteholders or the Certificateholders, (i) to cure any ambiguity, (ii) to correct or supplement any provision in this Agreement that may be defective or inconsistent with any other provision in this Agreement or any other Transaction
Documents, or with any description thereof in the Prospectus, the Class N Notes Confidential Offering Memorandum or the Certificate Private Placement Memorandum, (iii) to add to the covenants, restrictions or obligations of the
Administrator, (iv) to add, change or eliminate any other provision of this Agreement in any manner that shall not, as evidenced by an Opinion of Counsel, materially and adversely the interests of the Noteholders or the Certificateholders or
(v) the Rating Agency Condition is satisfied with respect to such amendment and the Depositor or the Administrator notifies the Indenture Trustee in writing that the Rating Agency Condition is satisfied with respect to such amendment. 

(b) This Agreement may also be amended from time to time by each Client, the Servicer, the Backup Servicer and the Indenture
Trustee with the consent of the Requisite Noteholders as of the close of business on the preceding Distribution Date, or if no Notes (other than the Class XS Notes) are Outstanding, the Majority Certificateholders (which consent, whether given
pursuant to this Section 19(b) or pursuant to any other provision of this Agreement, shall be conclusive and binding on such Person and on all future holders of such Note or Certificate and of any Note or Certificate issued
upon the transfer thereof or in exchange thereof or in lieu thereof whether or not notation of such consent is made upon the Note or Certificate) for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of this Agreement, or of modifying in any manner the rights of the Noteholders or the Certificateholders; provided, however, that no such amendment shall reduce the aforesaid percentage of Noteholders or Certificateholders
required to consent to any such amendment, without the consent of the holders of all Notes or Certificates then outstanding, as the case may be. It will not be necessary for the consent of Noteholders or Certificateholders 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 and Certificateholders provided for in this Agreement)
and of evidencing the authorization of the execution thereof by Noteholders and Certificateholders will be subject to such reasonable requirements as the Indenture Trustee and Owner Trustee may prescribe, including the establishment of record dates
pursuant to the Note Depository Agreement. Prior to the execution of any amendment pursuant to this Section 19(b), the Issuing Entity shall provide written notification of the substance of such amendment or consent to each
Rating Agency and the Indenture Trustee; and promptly after the execution of any such amendment, the Issuing Entity shall furnish a copy of such amendment to each Rating Agency, the Grantor Trust Trustee, the Owner Trustee and the Indenture Trustee.

  

					
		 	11	  	CRVNA 2022-P2 Backup Servicing Agreement

 (c) Each of the Grantor Trust Trustee and the Owner Trustee may, but shall
not be obligated to, enter into any such amendment, waiver or other modification which affects such trustee’s own rights, privileges, indemnities, duties or obligations under this Agreement, and no such amendment, wavier or modification which
affects such trustee’s own rights, duties or indemnities under this Agreement shall be effective without the Grantor Trust Trustee’s or Owner Trustee’s written agreement or prior written consent. 

(d) Notwithstanding anything to the contrary herein, an Opinion of Counsel shall be delivered to the each Client and the Owner
Trustee to the effect that such amendment would not cause the Grantor Trust or the Issuing Entity to fail to qualify as a grantor trust for United States federal income tax purposes. 

20. Third Party Beneficiaries. Each of the parties hereto hereby agrees that the Indenture Trustee under the Indenture shall be an express third party
beneficiary to this Agreement and entitled to enforce directly this Agreement, in each case as if the Indenture Trustee were a party hereto. 
 21. Non-Petition. Backup Servicer hereby agrees that it will not institute against the Issuing Entity or Grantor Trust any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or
other proceedings under any United States federal or state bankruptcy law, including the Bankruptcy Code, so long as any Notes (other than the Class XS Notes) have not been paid in full or there shall not have elapsed one year plus one day
since the last day on which any such Note shall have been reduced to zero. Backup Servicer agrees that damages will not be an adequate remedy for breach of this covenant and that this covenant may be specifically enforced by the Issuing Entity,
Grantor Trust, Servicer or the Indenture Trustee acting at the direction of the majority of the Holders of the Notes of the Controlling Class. The agreements in this Section 21 shall survive termination of this Agreement. 

22. Concerning the Trustee and Trust Obligations. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed
and delivered by BNY Mellon Trust of Delaware (“BNY Delaware”), not individually or personally but solely as Owner Trustee of the Issuing Entity and Grantor Trust Trustee of the Grantor Trust, in the exercise of the powers and
authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of each Client is made and intended not as personal representations, undertakings and agreements by BNY Delaware but is
made and intended for the purpose of binding only such Client, (c) nothing herein contained shall be construed as creating any liability on BNY Delaware, individually or personally, to perform any covenant either expressed or implied contained
herein of the Issuing Entity or the Grantor Trust, respectively, 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) BNY Delaware has made no
investigation as to the accuracy or completeness of any representations and warranties made by each Client in this Agreement and (e) under no circumstances shall BNY Delaware be personally liable for the payment of any indebtedness or expenses
of each Client or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by each Client under this Agreement. 

  

					
		 	12	  	CRVNA 2022-P2 Backup Servicing Agreement

 23. Recourse against Certain Parties. Notwithstanding anything in this Agreement to the
contrary, all amounts owed by the Issuing Entity or the Grantor Trust on, under or in respect of its obligations and liabilities under this Agreement shall be recoverable only from and to the extent of the Collateral and upon final realization of
collections thereon and in accordance with Section 2.7 of the Indenture, the Issuing Entity and the Grantor Trust shall have no further liability and all claims in respect of the amounts owed but still unpaid shall be extinguished. 

24. Information to be Provided by the Backup Servicer. 

(a) The Backup Servicer agrees to cooperate in good faith with any reasonable request by the Depositor for information
regarding the Backup Servicer which is required in order to enable the Depositor to comply with the provisions of Items 1104(e), 1117, 1119 and 1121(c) of Regulation AB and Rule 15Ga-1 under the Exchange Act
as it relates to the Backup Servicer or to the Backup Servicer’s obligations under this Agreement; provided that with respect to Rule 15Ga-1, and Items 1121(c) and 1104(e) of Regulation AB, the
Backup Servicer shall not be deemed a “securitizer” under Regulation AB or under the Exchange Act. 
 (b) Except to
the extent disclosed by the Backup Servicer in subsection (c) or (d) below, the Backup Servicer shall be deemed to have represented to the Depositor on the first day of each Collection Period with respect to the prior Collection Period that to
the best of its knowledge there were no legal or governmental proceedings pending (or known to be contemplated) against Vervent Inc. or any property of Vervent Inc. that would be material to any Noteholder or, to the extent that the Certificates are
registered under the Securities Act for public sale, any holder of such Certificates. 
 (c) The Backup Servicer shall, as
promptly as practicable following notice to or discovery by the Backup Servicer of any changes to any information regarding the Backup Servicer as is required for the purpose of compliance with Item 1117 of Regulation AB, provide to the Depositor,
in writing, such updated information. 
 (d) The Backup Servicer shall deliver to the Depositor on or before March 1
(or, if such date is not a Business Day, the next succeeding Business Day) of each year, beginning with March 1, 2023, a report of a representative of the Backup Servicer with respect to the immediately preceding calendar year certifying, on
behalf of the Backup Servicer, that except to the extent otherwise disclosed in writing to Depositor, to the best of his or her knowledge there were no legal or governmental proceedings pending (or known to be contemplated) against Vervent Inc. or
any property of Vervent Inc. that would be material to any Noteholder or, to the extent that the Certificates are registered under the Securities Act for public sale, any holder of such Certificates. 

  

					
		 	13	  	CRVNA 2022-P2 Backup Servicing Agreement

 (e) The Backup Servicer shall deliver to the Depositor on or before
March 1 (or, if such date is not a Business Day, the next succeeding Business Day) of each year, beginning with March 1, 2023, a report of a representative of the Backup Servicer with respect to the immediately preceding calendar year
providing to the Depositor such information regarding the Backup Servicer as is required for the purpose of compliance with Item 1119 of Regulation AB. Such information shall include, at a minimum, a description of any affiliation between the Backup
Servicer and any of the following parties to this securitization transaction, as such parties are identified to the Backup Servicer by the Depositor in writing in advance of this securitization transaction: 

(i) the Depositor; 

(ii) Carvana, LLC, as sponsor; 

(iii) the Issuing Entity; 

(iv) the Grantor Trust; 

(v) the Servicer; 

(vi) the Collateral Custodian; 

(vii) the Indenture Trustee; 

(viii) the Owner Trustee; 

(ix) the Grantor Trust Trustee; 

(x) the Asset Representations Reviewer; and 

(xi) any other material transaction party. 

(f) In connection with the parties listed in clauses (i) through (xi) above, the Backup Servicer shall
include a description of whether there is, and if so, the general character of, any business relationship, agreement, arrangement, transaction or understanding that is entered into outside the ordinary course of business or is on terms other than
would be obtained in an arm’s length transaction with an unrelated third party, apart from this securitization transaction, that currently exists or that existed during the past two years and that is material to an investor’s understanding
of the asset backed securities issued in this securitization transaction. 
 (g) The Backup Servicer shall provide the
Depositor with notification, as soon as practicable and in any event within five (5) Business Days, of all demands delivered to a Responsible Officer of the Backup Servicer for the repurchase or replacement of any Receivable pursuant to any
Transaction Document. Subject to this Section 24, the Backup Servicer shall have no obligation to take any other action with respect to any demand. In no event shall the Backup Servicer have (i) any responsibility or
liability in connection with any filing to be made by a securitizer under the Exchange Act or Regulation AB or (ii) any duty or obligation to undertake any investigation or inquiry related to repurchase activity or otherwise to assume any
additional duties or responsibilities except as expressly set forth in this Section 24. 

  

					
		 	14	  	CRVNA 2022-P2 Backup Servicing Agreement

 (h) To the extent applicable, the Backup Servicer shall comply with and
provide, on or before March 1 (or, if such date is not a Business Day, the next succeeding Business Day) of each year, the assessments and certificates as required under Rule 13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB under the Securities Act. 
 [Signature page
follows] 

  

					
		 	15	  	CRVNA 2022-P2 Backup Servicing Agreement

 IN WITNESS WHEREOF, each of the parties hereto has duly executed this Backup Servicing
Agreement as of the date first written above. 
  

			
	CARVANA AUTO RECEIVABLES TRUST 2022-P2
	
	By: BNY MELLON TRUST OF DELAWARE, not in its individual capacity but solely as Owner Trustee
		
	By:	 	 /s/ Kristine K. Gullo

		 	Name: Kristine K. Gullo
		 	Title: Vice President
	
	CARVANA AUTO RECEIVABLES GRANTOR TRUST 2022-P2
	
	By: BNY MELLON TRUST OF DELAWARE, not in its individual capacity but solely as Grantor Trust Trustee
		
	By:	 	 /s/ Kristine K. Gullo

		 	Name: Kristine K. Gullo
		 	Title: Vice President
	
	BRIDGECREST CREDIT COMPANY, LLC
		
	By:	 	 /s/ Daniel Gaudreau

		 	Name: Daniel Gaudreau
		 	Title: Chief Financial Officer

 Signature Page to Backup Servicing Agreement 

 
			
	VERVENT INC.
		
	By:	 	 /s/ Louis W. Geibel

		 	Name: Louis W. Geibel
		 	Title: Executive Vice President

 Signature Page to Backup Servicing Agreement 

 Exhibit A 

Information to be Confirmed by Backup Servicer 

1. The aggregate outstanding balance of the Serviced Receivables at the beginning of the Collection Period 

2. The number and Principal Balance of Delinquent Receivables and Serviced Receivables that became
Charged-Off Receivables in the related Collection Period (calculated using the Principal Balance of such Serviced Receivables immediately before they became Charged-Off
Receivables) at the close of the Collection Period 
 3. The Pool Balance of Serviced Receivables at the close of the Collection Period 

4. The following information, to the extent contained in the Servicer’s Certificate: 

a. the aggregate amount of principal distributable to each Class of Notes (other than the Class XS Notes) 

b. the aggregate amount distributable as interest on the related Distribution Date to each Class of Notes (other than the Class XS
Notes) 
 c. any amounts distributable on the related Distribution Date which are to be paid with funds withdrawn from the Reserve Account
and the Class N Reserve Account 
 d. the amount to be deposited into Reserve Account and the Specified Reserve Account Balance 

e. the outstanding principal amount and Pool Factor for each Class of Notes (other than the Class XS Notes) 

f. the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall,
the Class D Interest Carryover Shortfall and the Class N Interest Carryover Shortfall 
 g. the Servicing Strip Amount 

h. the Collateral characteristics including APR and term 

i. the total net loss of the Collection Period 

  

					
		 	A-1	  	CRVNA 2022-P2 Backup Servicing Agreement

 Exhibit B 

Backup Servicer Compensation 

(a) The ongoing back-up servicing fee shall be $2,750 per month (and $2,108.33 for the first
Distribution Date), billed monthly in advance, and payable pursuant to Section 2.7 of the Indenture. 
 (b) Pre-approved, reasonable third party expenses incurred by Backup Servicer in its performance of its duties hereunder, including, but not limited to, expenses incurred for travel for site visits, due diligence and
transfer of servicing and payable pursuant to Section 2.7 of the Indenture. Such expenses related to the cost of entering into this Agreement shall be paid by Carvana, LLC. 

All payments shall be made via ACH with reference to VCRN C006551. 

  

					
		 	B-1	  	CRVNA 2022-P2 Backup Servicing Agreement

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