Document:

Pooling Agreement between Ally Bank, as Seller, and Ally Auto Assets LLC

 Exhibit 4.3 

 
  
  

 
 POOLING AGREEMENT

 BETWEEN 
 ALLY AUTO ASSETS LLC 
 AND 

ALLY BANK 
  

DATED AS OF MAY 30, 2012 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I DEFINITIONS
	  	 	1	  
			
	       SECTION 1.01
	 	Definitions	  	 	1	  
	       SECTION 1.02
	 	Owner of a Receivable	  	 	1	  
		
	 ARTICLE II PURCHASE AND SALE OF RECEIVABLES
	  	 	1	  
			
	       SECTION 2.01
	 	Purchase and Sale of Receivables	  	 	1	  
	       SECTION 2.02
	 	Receivables Purchase Price	  	 	3	  
	       SECTION 2.03
	 	The Closing	  	 	3	  
		
	 ARTICLE III REPRESENTATIONS AND WARRANTIES
	  	 	3	  
			
	       SECTION 3.01
	 	Representations and Warranties as to the Receivables.	  	 	3	  
	       SECTION 3.02
	 	Additional Representations and Warranties of the Seller	  	 	6	  
	       SECTION 3.03
	 	Representations and Warranties of Ally Auto	  	 	7	  
		
	 ARTICLE IV ADDITIONAL AGREEMENTS
	  	 	8	  
			
	       SECTION 4.01
	 	Conflicts With Further Transfer Agreements	  	 	8	  
	       SECTION 4.02
	 	Protection of Title	  	 	8	  
	       SECTION 4.03
	 	Other Liens or Interests	  	 	9	  
	       SECTION 4.04
	 	Repurchase Events	  	 	9	  
	       SECTION 4.05
	 	Indemnification	  	 	9	  
	       SECTION 4.06
	 	Further Assignments	  	 	10	  
	       SECTION 4.07
	 	Pre-Closing Collections	  	 	10	  
	       SECTION 4.08
	 	Compliance with the FDIC Rule	  	 	10	  
		
	 ARTICLE V CONDITIONS
	  	 	10	  
			
	       SECTION 5.01
	 	Conditions to Obligation of Ally Auto	  	 	10	  
	       SECTION 5.02
	 	Conditions to Obligation of the Seller	  	 	11	  
		
	 ARTICLE VI MISCELLANEOUS PROVISIONS
	  	 	11	  
			
	       SECTION 6.01
	 	Amendment	  	 	11	  
	       SECTION 6.02
	 	Survival	  	 	11	  
	       SECTION 6.03
	 	Notices	  	 	11	  
	       SECTION 6.04
	 	Governing Law	  	 	11	  
	       SECTION 6.05
	 	Waivers	  	 	12	  
	       SECTION 6.06
	 	Costs and Expenses	  	 	12	  
	       SECTION 6.07
	 	Confidential Information	  	 	12	  
	       SECTION 6.08
	 	Headings	  	 	12	  
	       SECTION 6.09
	 	Counterparts	  	 	12	  
	       SECTION 6.10
	 	No Petition Covenant	  	 	12	  
	       SECTION 6.11
	 	Limitations on Rights of Others	  	 	12	  
	       SECTION 6.12
	 	Merger and Consolidation of the Seller or Ally Auto	  	 	12	  
	       SECTION 6.13
	 	Assignment	  	 	13	  
	       SECTION 6.14
	 	Official Record	  	 	13	  

 EXHIBIT A                 Form of First
Step Receivables Assignment 

  
 i 

 SCHEDULE A        Schedule of Receivables 

APPENDIX A         Definitions, Rules of Construction and Notices 

APPENDIX B         Additional Representations and Warranties 

  
 ii 

 THIS POOLING AGREEMENT, dated as of May 30, 2012, between ALLY AUTO
ASSETS LLC, a Delaware limited liability company (“Ally Auto”), and ALLY BANK, a Utah chartered bank (the “Seller”). 
 WHEREAS, Ally Auto desires to purchase on the date hereof a portfolio of automobile and light truck retail instalment sale contracts, direct purchase money loans and related rights owned by the Seller;

 WHEREAS, the Seller is willing to sell on the date hereof such contracts and related rights to Ally Auto;

 WHEREAS, Ally Auto may wish to sell or otherwise transfer on the date hereof such contracts and related
rights, or interests therein, to a trust, corporation, partnership or other entity (any such entity being the “Issuing Entity”); and 
 WHEREAS, the Issuing Entity may issue debentures, notes, participations, certificates of beneficial interest, partnership interests or other interests or securities (collectively, any such issued
interests or securities being “Securities”) to fund its acquisition of such contracts and related rights. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties hereto agree as follows: 
 ARTICLE I 
 DEFINITIONS 

SECTION 1.01      Definitions. Certain capitalized terms used in this Agreement are
defined in and shall have the respective meanings assigned to them in Part I of Appendix A to this Agreement. All references herein to “the Agreement” or “this Agreement” are to this Pooling Agreement as it
may be amended, supplemented or modified from time to time, and all references herein to Articles and Sections are to Articles or Sections 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. 
 SECTION 1.02     Owner
of a Receivable. For purposes of this Agreement, the “Owner” of a Receivable shall mean Ally Auto until the sale, transfer, assignment or other conveyance of such Receivable by Ally Auto pursuant to the terms of the applicable
Further Transfer Agreements, and thereafter shall mean the Issuing Entity; provided, that the Seller, the Servicer or Ally Auto, as applicable, shall be the “Owner” of any Receivable from and after the time that such Person
shall acquire such Receivable, whether pursuant to Section 4.04 of this Agreement, any provision of the Further Transfer Agreements, Section 2.07 of the Servicing Agreement or otherwise. 

ARTICLE II 

PURCHASE AND SALE OF RECEIVABLES 
 SECTION 2.01       Purchase and Sale of Receivables. 

 (a)    Purchase. On the Closing Date, subject to
satisfaction of the conditions specified in Article V and the First Step Receivables Assignment (and, in any event, immediately prior to consummation of the related transactions contemplated by the Further Transfer Agreements, if any), the
Seller shall sell, transfer, assign and otherwise convey to Ally Auto, without recourse: 

(i)         all right, title and interest of the Seller in, to and under
the Receivables listed on the Schedule of Receivables and all monies received thereon on and after the Cutoff Date, exclusive of any amounts allocable to the premium for physical damage collateral protection insurance required by the Seller or the
Servicer covering any related Financed Vehicle; 
 (ii)        the
interest of the Seller in the security interests in the Financed Vehicles granted by Obligors pursuant to the Receivables and, to the extent permitted by law, any accessions thereto; 

(iii)       the interest of the Seller in any proceeds from claims on any physical
damage, credit life, credit disability or other insurance policies covering Financed Vehicles or Obligors; 

(iv)       the interest of the Seller in any proceeds from recourse against Dealers
on the Receivables; 
 (v)        all right, title and interest of the
Seller in, to and under the First Step Receivables Assignment; and 

(vi)       all present and future claims, demands, causes and choses in action in
respect of any or all the foregoing described in clauses (i) through (v) above and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all the foregoing, including all proceeds
of the conversion of any or all of the foregoing, voluntary or involuntary, into cash or other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance
proceeds, investment property, payment intangibles, general intangibles, condemnation awards, rights to payment of any and every kind and other forms of obligations and receivables, instruments and other property which at any time constitute all or
part of or are included in the proceeds of any of the foregoing. 
 The property described in clauses
(i) through (vi) above is referred to herein collectively as the “Purchased Property.” 
 (b)    It is the intention of the Seller and Ally Auto that the sale, transfer, assignment and other conveyances of the Receivables contemplated by this Agreement and the First Step
Receivables Assignment shall constitute a sale of the Receivables from the Seller to Ally Auto and the beneficial interest in and title to the Receivables shall not be part of the Seller’s estate in the event of the filing of a petition for
insolvency, receivership or conservatorship by or against the Seller or placement into receivership or conservatorship of the Seller under any relevant bankruptcy, insolvency, receivership or conservatorship law. 

  
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 (c)         The sale, transfer,
assignment and other conveyances of Receivables contemplated by this Agreement and the First Step Receivables Assignment do not constitute and are not intended to result in the creation of or an assumption by Ally Auto of any obligation of the
Seller, the Servicer or any other Person to the Obligors, Dealers, insurers or any other Person in connection with the Receivables, any Dealer Agreements, any insurance policies or any other agreement or instrument relating to any of them.

 SECTION 2.02        Receivables Purchase Price. 

In consideration for the Purchased Property, Ally Auto shall, on the Closing Date, pay to the Seller an amount equal to
the Initial Aggregate Receivables Principal Balance in respect of the Receivables and the Seller shall execute and deliver to Ally Auto an assignment in the form attached hereto as Exhibit A (the “First Step Receivables
Assignment”). The Initial Aggregate Receivables Principal Balance is equal to $1,309,034,745.19. A portion of the Initial Aggregate Receivables Principal Balance, equal to $1,215,708,742.94, shall be paid to the Seller in immediately
available funds and the balance of such purchase price shall be paid through an increase in the amount owing from Ally Auto to the Seller under the Intercompany Advance Agreement (as a result of an advance made thereunder from the Seller to Ally
Auto), equal to $93,326,002.25. The amount advanced under the Intercompany Advance Agreement shall be duly recorded by the Seller and Ally Auto. 
 SECTION 2.03         The Closing. 
 The sale and purchase of the Receivables shall take place at the offices of Kirkland & Ellis LLP, 300 North LaSalle Street, Chicago, Illinois 60654, on the Closing Date at a time mutually
agreeable to the Seller and Ally Auto, and will occur simultaneously with the closing of transactions contemplated by the Further Transfer Agreements. 
 ARTICLE III 
 REPRESENTATIONS AND WARRANTIES 

SECTION 3.01         Representations and Warranties as to the
Receivables.        The Seller makes the following representations and warranties as to each Receivable, on which Ally Auto relies in accepting the Receivables. Such representations and warranties speak as
of the Closing Date, and shall survive the sale, transfer and assignment of the Receivables to Ally Auto and the subsequent assignment and transfer pursuant to the Further Transfer Agreements: 

(a)        Characteristics of Receivables. 

(i)         General. Each Receivable: 

(1)         is secured by a Financed Vehicle, was originated in the United
States by the Seller or one of its subsidiaries or a Dealer for the retail sale of a Financed Vehicle in the ordinary course of business, was fully and properly executed by the parties thereto, if not originated by the Seller, was purchased by the
Seller from one of its subsidiaries or 

  
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from such Dealer under an existing Dealer Agreement, and was validly assigned by such subsidiary or such Dealer to the Seller in accordance with its terms, 

(2)        has created or shall create a valid, binding and enforceable first
priority security interest in favor of the Seller in the Financed Vehicle, which security interest is assignable by the Seller to Ally Auto, 
 (3)        contains customary and enforceable provisions such as to render the rights and remedies of the holder thereof adequate for realization against the
collateral of the benefits of the security, 
 (4)        is a Simple
Interest Receivable, 
 (5)        provides for level monthly payments
which may vary from one another by no more than $5, which shall amortize the Amount Financed by maturity and shall yield interest at the Annual Percentage Rate, 

(6)        has an original term of not less than [eighteen] (12) months and
not greater than [seventy-two] (72) months and a remaining term of not less than [nine] (9) months, and 
 (7)        with respect to which at least one monthly payment has been made. 

(ii)        Receivables.     In addition to the
characteristics set forth in Section 3.01(a)(i) above, each Receivable (1) has a first scheduled payment due date on or after February 9, 2007, (2) was originated on or after January 3, 2007, (3) as of the Cutoff
Date, was not considered past due (that is, no payments due on that Receivable in excess of $25 were more than thirty (30) days delinquent), and was not a Liquidating Receivable, and (4) has an Annual Percentage Rate not greater than
15.00%. 
 (b)        Creation, Perfection and Priority of Security
Interests.     The representations and warranties regarding creation, perfection and priority of security interests in the Purchased Property, which are attached to this Agreement as Appendix B, are true and correct to
the extent that they are applicable. 
 (c)        Schedule of
Receivables.     The information set forth in the Schedule of Receivables relating to each Receivable is true and correct in all material respects, and no selection procedures believed to be adverse to Ally Auto or to holders
of the Securities issued under the Further Transfer Agreements were utilized in selecting the Receivables from those receivables of the Seller that meet the selection criteria set forth in this Agreement. 

(d)        Compliance With Law.     All requirements
of applicable federal, state and local laws, and regulations thereunder, including usury laws, Utah banking laws, the Federal Truth-in-Lending Act, the Equal Credit Opportunity Act, the Fair Credit Billing Act, the Fair Credit Reporting Act, the
Fair Debt Collection Practices Act, the Federal Trade Commission Act, the Magnuson-Moss Warranty Act, the Federal Reserve Board’s Regulations “B” and “Z,” the Servicemembers Civil Relief Act of 2003, the Texas Consumer
Credit Code, and state 

  
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adaptations of the National Consumer Act and the Uniform Consumer Credit Code and other consumer credit laws and equal credit opportunity and disclosure laws, in respect of each such Receivable
and other Purchased Property, have been complied with in all material respects, and each such Receivable and the sale of the Financed Vehicle evidenced thereby complied at the time it was originated or made and now complies in all material respects
with all legal requirements of the jurisdiction in which it was originated or made. 

(e)        Binding Obligation.     Each such
Receivable represents the genuine, legal, valid and binding payment obligation in writing of the Obligor thereon, enforceable by the holder thereof in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency,
reorganization or similar laws affecting the enforcement of creditors’ rights in general and by equity, regardless of whether such enforceability is considered in a proceeding in equity or at law. 

(f)        Security Interest in Financed Vehicle.
    Immediately prior to the sale, transfer and assignment thereof pursuant hereto and the First Step Receivables Assignment, each Receivable was secured by a validly perfected first priority security interest in the Financed
Vehicle in favor of the Seller as secured party or all necessary and appropriate action had been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of the Seller as secured
party. 
 (g)        Receivables In Force.
    Each such Receivable has not been satisfied, subordinated or rescinded, and the Financed Vehicle securing each such Receivable has not been released from the lien of the related Receivable in whole or in part. 

(h)        No Waiver.     Since the Cutoff Date no
provision of any such Receivable has been waived, altered or modified in any respect. 

(i)        No Defenses.     No right of rescission,
setoff, counterclaim or defense has been asserted or threatened with respect to any such Receivable. 

(j)        No Liens.     To the best of the
Seller’s knowledge: (1) there are no liens or claims that have been filed for work, labor or materials affecting any Financed Vehicle securing any Receivable that are or may be liens prior to, or equal or coordinate with, the security
interest in the Financed Vehicle granted by such Receivable; (2) no contribution failure has occurred with respect to any Benefit Plan which is sufficient to give rise to a lien under Section 303 (k) of ERISA with respect to any
Receivable; and (3) no tax lien has been filed and no claim related thereto is being asserted with respect to any such Receivable. 
 (k)        Insurance.     The Obligor under each such Receivable is required to maintain a physical damage insurance policy of the type
that the Seller requires in accordance with its customary underwriting standards for the purchase of motor vehicle related receivables. 
 (l)        Good Title.     Each such Receivable has not been sold, transferred, assigned or pledged by the Seller to any Person other
than Ally Auto; immediately prior to the conveyance of each such Receivable pursuant to this Agreement and the First Step Receivables Assignment, the Seller had good and marketable title thereto, free of any Lien; and, upon execution and delivery of
this Agreement by the Seller, Ally Auto shall have all of the right, title and interest of 

  
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the Seller in and to each such Receivable, the unpaid indebtedness evidenced thereby and the collateral security therefor, free of any Lien. 

(m)        Lawful Assignment.     Each such
Receivable was not originated in, or is not subject to the laws of, any jurisdiction the laws of which would make unlawful the sale, transfer and assignment of each such Receivable under this Agreement, the Trust Sale Agreement or the Indenture, as
applicable. 
 (n)        All Filings Made.
    All filings (including UCC filings) necessary in any jurisdiction to give Ally Auto a first priority perfected ownership interest in each such Receivable shall have been made. 

(o)        One Original.     There is only one
original executed copy of each such Receivable. 
 (p)        No
Documents or Instruments.     No such Receivable, or constituent part thereof, constitutes a “negotiable instrument” or “negotiable document of title” (as such terms are used in the UCC). 

(q)        No Amendment. Each such Receivable has not been amended or
otherwise modified such that the number of originally scheduled due dates has been increased or such that the Amount Financed has been increased. 
 SECTION 3.02         Additional Representations and Warranties of the Seller.     The Seller hereby represents and warrants to Ally Auto
as of the Closing Date that: 
 (a)        Organization and Good
Standing; FDIC.     The Seller has been duly organized and is validly existing as a Utah chartered bank, with power and authority to own its properties and to conduct its business as such properties are presently owned and
such business is presently conducted; and as of the date hereof, the Seller is insured by the Federal Deposit Insurance Corporation and is subject to the Federal Deposit Insurance Act; 

(b)        Due Qualification.     The Seller is duly
qualified to do business as a foreign entity in good standing, and has obtained all necessary licenses and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business requires or shall require such
qualification; 
 (c)        Power and Authority.
    The Seller has the power and authority to execute and deliver this Agreement and the First Step Receivables Assignment and to carry out its terms; the Seller has full power and authority to sell and assign the property to be
sold and assigned to Ally Auto, and has duly authorized such sale and assignment to Ally Auto by all necessary corporate action; and the execution, delivery and performance of this Agreement and the First Step Receivables Assignment have been duly
authorized by the Seller by all necessary corporate action; 

(d)        Valid Sale; Binding Obligation.     This
Agreement and the First Step Receivables Assignment, when duly executed and delivered, shall constitute a valid sale, transfer and assignment of the Receivables, in each case, enforceable against creditors of and purchasers

  
 6 

 
from the Seller; and this Agreement together with the First Step Receivables Assignment, when duly executed and delivered, shall constitute a legal, valid and binding obligation of the Seller
enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, receivership, conservatorship, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights in general and by
general principles of equity, regardless of whether such enforceability is considered in a proceeding in equity or at law; 
 (e)        No Violation.     The consummation of the transactions contemplated by this Agreement and the First Step Receivables
Assignment and the fulfillment of the terms of this Agreement and the First Step Receivables Assignment shall not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a
default under, the articles of incorporation or bylaws (or similar organizational documents) of the Seller, or any indenture, agreement, mortgage, deed of trust or other instrument to which the Seller is a party or by which it is bound, or result in
the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement, mortgage, deed of trust or other instrument, other than this Agreement and the First Step Receivables Assignment or violate any
law or, to the best of the Seller’s knowledge, any order, rule or regulation applicable to the Seller of any court or of any federal or State regulatory body, administrative agency or other governmental instrumentality having jurisdiction over
the Seller or any of its properties; and 
 (f)        No
Proceedings.     To the Seller’s knowledge, there are no proceedings or investigations pending, or threatened, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality
having jurisdiction over the Seller or its properties (A) asserting the invalidity of this Agreement and the First Step Receivables Assignment, (B) seeking to prevent the consummation of any of the transactions contemplated by this
Agreement and the First Step Receivables Assignment, or (C) seeking any determination or ruling that might materially and adversely affect the performance by the Seller of its obligations under, or the validity or enforceability of, this
Agreement and the First Step Receivables Assignment. 
 SECTION
3.03        Representations and Warranties of Ally Auto.     Ally Auto hereby represents and warrants to the Seller as of the Closing Date: 

(a)        Organization and Good Standing.     Ally
Auto has been duly formed and is validly existing as an entity in good standing under the laws of the State of Delaware, with power and authority to own its properties and to conduct its business as such properties are presently owned and such
business is presently conducted; 
 (b)        Due
Qualification.     Ally Auto is duly qualified to do business as a foreign entity in good standing, and has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the
conduct of its business requires such qualification; 

(c)        Power and Authority.     Ally Auto has the
power and authority to execute and deliver this Agreement and the First Step Receivables Assignment and to carry out its terms; Ally Auto had at all relevant times, and now has, power, authority and legal right to acquire and

  
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own the Receivables and the execution, delivery and performance of this Agreement and the First Step Receivables Assignment have been duly authorized by Ally Auto by all necessary limited
liability company action; 
 (d)        No Violation.
    The consummation of the transactions contemplated by this Agreement and the First Step Receivables Assignment and the fulfillment of the terms of this Agreement and the First Step Receivables Assignment shall not conflict
with, result in any breach of any of the terms and provisions of or constitute (with or without notice or lapse of time) a default under, the certificate of formation or limited liability company agreement of Ally Auto, or any indenture, agreement,
mortgage, deed of trust or other instrument to which Ally Auto is a party or by which it is bound, or result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement or other
instrument, other than any Further Transfer Agreement or violate any law or, to the best of Ally Auto’s knowledge, any order, rule or regulation applicable to Ally Auto of any court or of any federal or State regulatory body, administrative
agency or other governmental instrumentality having jurisdiction over Ally Auto or any of its properties; and 

(e)        No Proceedings.     To Ally Auto’s
knowledge, there are no proceedings or investigations pending, or threatened, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over Ally Auto or its properties
(i) asserting the invalidity of this Agreement and the First Step Receivables Assignment, or (ii) seeking any determination or ruling that might materially and adversely affect the performance by Ally Auto of its obligations under, or the
validity or enforceability of, this Agreement and the First Step Receivables Assignment. 
 ARTICLE IV 

ADDITIONAL AGREEMENTS 
 SECTION 4.01         Conflicts With Further Transfer Agreements.     To the extent that any provision of Sections 4.02 through
4.04 of this Agreement conflicts with any provision of the Further Transfer Agreements, the Further Transfer Agreements shall govern. 
 SECTION 4.02        Protection of Title. 
 (a)        Filings.     The Seller shall authorize and execute, as applicable, and file such financing statements or amendments to
financing statements and cause to be authorized and executed, as applicable, and filed such continuation and other statements, all in such manner and in such places as may be required by law fully to preserve, maintain and protect the interest of
Ally Auto under this Agreement and the First Step Receivables Assignment in the Receivables and the other Purchased Property and in the proceeds thereof. The Seller shall deliver (or cause to be delivered) to Ally Auto file-stamped copies of, or
filing receipts for, any document filed as provided above, as soon as available following such filing, and the Seller hereby authorizes Ally Auto and its assigns to file all such financing statements without its signature. 

(b)        Name Change.     The Seller shall not
change its State of incorporation or its name, identity or entity structure in any manner that would, could or might make any financing 

  
 8 

 
statement or continuation statement filed by the Seller, Ally Auto or Ally Auto’s assigns in accordance with Section 4.02(a) seriously misleading within the meaning of the UCC,
unless it shall give Ally Auto written notice thereof within ten (10) days of such change. 

(c)        Executive Office; Maintenance of Offices.
    The Seller shall give Ally Auto written notice within ten (10) days of any relocation of its principal executive office if, as a result of such relocation, the applicable provisions of the UCC would require the filing of
any amendment of any previously filed financing or continuation statement or of any new financing statement. The Seller shall at all times maintain each office from which it originates Receivables and its principal executive office within the United
States of America. 
 (d)        New Debtor.
    In the event that the Seller shall change the jurisdiction in which it is formed or otherwise enter into any transaction which would result in a “new debtor” (as defined in the UCC) succeeding to the obligations of
the Seller hereunder, the Seller shall comply fully with the obligations of Section 4.02(a). 

SECTION 4.03        Other Liens or Interests.
    Except for the conveyances hereunder and under the First Step Receivables Assignment and as contemplated by the Further Transfer Agreements, the Seller shall not sell, pledge, assign or transfer the Receivables or other
Purchased Property to any other Person, or grant, create, incur, assume or suffer to exist any Lien on any interest therein, and the Seller shall defend the right, title and interest of Ally Auto in, to and under such Receivables or other Purchased
Property against all claims of third parties claiming through or under the Seller. 
 SECTION
4.04        Repurchase Events.     By its execution of the Further Transfer Agreements to which it is a party, the Seller shall acknowledge the assignment by Ally Auto of such of its
right, title and interest in, to and under this Agreement and the First Step Receivables Assignment to the Issuing Entity as shall be provided in the Further Transfer Agreements. The Seller hereby covenants and agrees with Ally Auto for the benefit
of Ally Auto and the Interested Parties that in the event of a breach of any of the Seller’s representations and warranties contained in Section 3.01 hereof with respect to any Receivable (a “Repurchase Event”), the
Seller will repurchase such Receivable from the Issuing Entity (if the Issuing Entity is then the Owner of such Receivable) on the date and for the amount specified in the Further Transfer Agreements, without further notice from Ally Auto hereunder.
Upon the occurrence of a Repurchase Event with respect to a Receivable for which Ally Auto is the Owner, the Seller agrees to repurchase such Receivable from Ally Auto for an amount and upon the same terms as the Seller would be obligated to
repurchase such Receivable from the Issuing Entity if the Issuing Entity was then the Owner thereof, and upon payment of such amount, the Seller shall have such rights with respect to such Receivable as if the Seller had purchased such Receivable
from the Issuing Entity as the Owner thereof. It is understood and agreed that the obligation of the Seller to repurchase any Receivable as to which a breach has occurred and is continuing shall, if such obligation is fulfilled, constitute the sole
remedy against the Seller for such breach available to Ally Auto or any Interested Party. 
 SECTION
4.05        Indemnification.     The Seller shall indemnify Ally Auto for any liability as a result of the failure of a Receivable to be originated in compliance with all

  
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requirements of law. This indemnity obligation shall be in addition to any obligation that the Seller may otherwise have. 

SECTION 4.06        Further Assignments.    The Seller
acknowledges that Ally Auto may, pursuant to the Further Transfer Agreements, sell the Receivables to the Issuing Entity and assign its rights hereunder and under the First Step Receivables Assignment to the Issuing Entity, subject to the terms and
conditions of the Further Transfer Agreements, and that the Issuing Entity may in turn further pledge, assign or transfer its rights in the Receivables and this Agreement and the First Step Receivables Assignment. The Seller further acknowledges
that Ally Auto may assign its rights under the Custodian Agreement to the Issuing Entity. 
 SECTION
4.07        Pre-Closing Collections.    Within two (2) Business Days after the Closing Date the Seller shall transfer to the account or accounts designated by Ally Auto (or by
the Issuing Entity under the Further Transfer Agreements) all collections on the Receivables held by the Seller on the Closing Date, and conveyed to Ally Auto pursuant to Section 2.01. 

SECTION 4.08        Compliance with the FDIC
Rule.    The Seller agrees to (i) perform the covenants set forth in Article XII of the Indenture applicable to it and (ii) facilitate compliance with Article XII of the Indenture by the Ally Parties. 

ARTICLE V 

CONDITIONS 
 SECTION 5.01        Conditions to Obligation of Ally Auto.    The obligation of Ally Auto to purchase the Receivables hereunder and
pursuant to the First Step Receivables Assignment is subject to the satisfaction of the following conditions: 

(a)        Representations and Warranties
True.    The representations and warranties of the Seller hereunder, shall be true and correct at the time of the Closing Date, and the Seller shall have performed all obligations to be performed by it hereunder on or prior
to the Closing Date. 
 (b)        No Repurchase
Event.    No Repurchase Event shall have occurred on or prior to the Closing Date. 

(c)        Computer Files Marked.    The Seller shall
have or shall have caused to have, at its own expense, on or prior to the Closing Date, indicated in its computer files created in connection with the Receivables that the Receivables have been sold to Ally Auto pursuant to this Agreement and the
First Step Receivables Assignment and deliver to Ally Auto the Schedule of Receivables, certified by an officer of the Seller to be true, correct and complete. 

(d)        Documents to be Delivered By the Seller. 

(i)        The Assignments.    On the Closing Date,
the Seller shall execute and deliver the First Step Receivables Assignment. 

(ii)        Evidence of UCC Filing.    On or prior to
the Closing Date, the Seller shall record and file, at its own expense, a UCC-1 financing statement in each jurisdiction 

  
 10 

 
in which required by applicable law, authorized by and naming the Seller as seller or debtor, naming Ally Auto as purchaser or secured party, naming the Receivables and the other Purchased
Property as collateral, meeting the requirements of the laws of each such jurisdiction and in such manner as is necessary to perfect the sale, transfer, assignment and conveyance of such Receivables to Ally Auto. The Seller shall deliver a
file-stamped copy, or other evidence satisfactory to Ally Auto of such filing, to Ally Auto on or prior to the Closing Date. 
 (iii)        Other Documents.    On the Closing Date the Seller shall provide such other documents as Ally Auto may reasonably request.

 (e)        Other Transactions.    The
transactions contemplated by the Further Transfer Agreements shall be consummated to the extent that such transactions are intended to be substantially contemporaneous with the transactions hereunder. 

SECTION 5.02        Conditions to Obligation of the
Seller.    The obligation of the Seller to sell the Receivables to Ally Auto hereunder or pursuant to the First Step Receivables Assignment is subject to the satisfaction of the following conditions: 

(a)        Representations and Warranties
True.    The representations and warranties of Ally Auto hereunder shall be true and correct as of the Closing Date with respect to the Receivables, and Ally Auto shall have performed all obligations to be performed by it
hereunder or pursuant to the First Step Receivables Assignment on or prior to the closing hereunder. 

(b)        Receivables Purchase Price.    On the
Closing Date, Ally Auto shall pay to the Seller that portion of the Initial Aggregate Receivables Principal Balance as provided in Section 2.02. 
 ARTICLE VI 
 MISCELLANEOUS PROVISIONS 

SECTION 6.01        Amendment.    This Agreement may
be amended from time to time (subject to any expressly applicable amendment provision of the Further Transfer Agreements or the Servicing Agreement) by a written amendment duly executed and delivered by the Seller and Ally Auto. 

SECTION 6.02        Survival.    The representations
and warranties of the Seller set forth in Articles III and IV of this Agreement shall remain in full force and effect and shall survive the Closing Date under Section 2.03 hereof and the closing under the Further Transfer
Agreements. 
 SECTION
6.03        Notices.    All demands, notices and communications upon or to the Seller or Ally Auto under this Agreement shall be delivered as specified in Part III of Appendix
A to this Agreement. 
 SECTION 6.04        Governing Law.
THIS AGREEMENT AND THE FIRST STEP RECEIVABLES ASSIGNMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS THEREOF OR OF ANY OTHER JURISDICTION
OTHER THAN SECTION 5-1401 AND SECTION 

  
 11 

 
5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES UNDER THIS AGREEMENT SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

SECTION 6.05        Waivers.    No failure or delay on
the part of Ally Auto in exercising any power, right or remedy under this Agreement or the First Step Receivables Assignment shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or remedy preclude any
other or further exercise thereof or the exercise of any other power, right or remedy. 
 SECTION
6.06        Costs and Expenses.    The Seller agrees to pay all reasonable out-of-pocket costs and expenses of Ally Auto, including fees and expenses of counsel, in connection with
the perfection as against third parties of Ally Auto’s right, title and interest in, to and under the Receivables and the enforcement of any obligation of the Seller hereunder. 

SECTION 6.07         Confidential Information.    Ally
Auto agrees that it shall neither use nor disclose to any person the names and addresses of the Obligors, except in connection with the enforcement of Ally Auto’s rights hereunder, under the Receivables, under the Further Transfer Agreements or
as required by law. 
 SECTION
6.08        Headings.    The headings of the various Articles and Sections herein are for convenience of reference only and shall not define or limit any of the terms or provisions
hereof. 
 SECTION
6.09        Counterparts.    This Agreement may be executed in two or more counterparts and by different parties on separate counterparts, each of which shall be an original, but all
of which together shall constitute one and the same instrument. 
 SECTION
6.10        No Petition Covenant.    Notwithstanding any prior termination of this Agreement, the Seller shall not, prior to the date which is one year and one day after the final
distribution with respect to the Notes to the Note Distribution Account, acquiesce, petition or otherwise invoke or cause Ally Auto or the Issuing Entity to invoke the process of any court or government authority for the purpose of commencing or
sustaining a case against Ally Auto or the Issuing Entity under any federal or State bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of Ally Auto or the
Issuing Entity or any substantial part of the property of either of them, or ordering the winding up or liquidation of the affairs of Ally Auto or the Issuing Entity under any federal or State bankruptcy or insolvency proceeding. 

SECTION 6.11        Limitations on Rights of
Others.    The provisions of this Agreement and the First Step Receivables Assignment are solely for the benefit of the Seller and Ally Auto and, to the extent expressly provided herein, the Interested Parties, and nothing in
this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in, under, or in respect of this Agreement or any covenants, conditions or provisions contained herein.

 SECTION 6.12         Merger and Consolidation of the Seller or
Ally Auto. 

  
 12 

 Any corporation, limited liability company or other entity (i) into
which either the Seller, or Ally Auto may be merged or consolidated, (ii) resulting from any merger or consolidation to which either the Seller or Ally Auto shall be a party, (iii) succeeding to the business of either the Seller or Ally
Auto, or (iv) 25% or more of the voting stock (or, if not a corporation, other voting interests) of which is owned, directly or indirectly, by General Motors or Ally Financial, which corporation, limited liability company or other entity in any
of the foregoing cases executes an agreement of assumption to perform every obligation of the Seller or Ally Auto (as applicable) under this Agreement and the other Basic Documents, shall be the successor to the Seller or Ally Auto (as applicable)
under this Agreement without the execution or filing of any document or any further act on the part of any of the parties to this Agreement. 
 SECTION 6.13        Assignment. 
 Notwithstanding anything to the contrary contained in this Agreement, this Agreement may be assigned by the Seller or Ally Auto without the consent of any other Person to a corporation, limited liability
company or other entity that is a successor (by merger, consolidation or purchase of assets) to the Seller or Ally Auto (as applicable), or 25% or more of the voting interests of which is owned, directly or indirectly, by General Motors or by Ally
Financial, provided that the assignee of Ally Auto executes an agreement of assumption, as provided in Section 3.03(a) of the Trust Sale Agreement. 
 SECTION 6.14        Official Record. 
 This Agreement is, and the Seller agrees to maintain this Agreement from and after the date hereof as, an official record (within the meaning of Section 13(e) of the Federal Deposit Insurance Act) of
the Seller. 
 *  *  *  *  * 

  
 13 

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

			
	ALLY BANK
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	ALLY AUTO ASSETS LLC
		
	By:	 	 
	Name:	 	
	Title:	 	

 EXHIBIT A 
 FORM OF 
 FIRST STEP RECEIVABLES ASSIGNMENT 

PURSUANT TO POOLING AGREEMENT 
 For value received, in accordance with the Pooling Agreement, dated as of May 30, 2012 (the “Pooling Agreement”), between Ally Bank, a Utah chartered bank (the
“Seller”), and Ally Auto Assets LLC, a Delaware limited liability company (“Ally Auto”), the Seller does hereby sell, assign, transfer and otherwise convey unto Ally Auto, without recourse, as of May 30, 2012,
(i) all right, title and interest of the Seller in, to and under the Receivables listed on the Schedule of Receivables attached as Schedule A hereto and all monies received thereon on and after the Cutoff Date, exclusive of any amounts
allocable to the premium for physical damage collateral protection insurance required by the Seller or the Servicer covering any related Financed Vehicle; (ii) the interest of the Seller in the security interests in the Financed Vehicles
granted by Obligors pursuant to the Receivables and, to the extent permitted by law, any accessions thereto; (iii) the interest of the Seller in any proceeds from claims on any physical damage, credit life, credit disability or other insurance
policies covering Financed Vehicles or Obligors; (iv) the interest of the Seller in any proceeds from recourse against Dealers on the Receivables; and (v) all right, title and interest of the Seller in, to and under the First Step
Receivables Assignment; and (vi) all present and future claims, demands, causes and choses in action in respect of any or all the foregoing described in clauses (i), (ii), (iii), (iv), and (v) above and all payments on or under and all
proceeds of every kind and nature whatsoever in respect of any or all the foregoing, including all proceeds of the conversion of any or all of the foregoing, voluntary or involuntary, into cash or other liquid property, all cash proceeds, accounts,
accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance proceeds, investment property, payment intangibles, general intangibles, condemnation awards, rights to payment of any and every kind and other forms
of obligations and receivables, instruments and other property which at any time constitute all or part of or are included in the proceeds of any of the foregoing. 

It is the intention of the Seller and Ally Auto that the sale, transfer, assignment and other conveyances of the
Receivables contemplated by the Pooling Agreement and this First Step Receivables Assignment shall constitute a sale of the Receivables from the Seller to Ally Auto and the beneficial interest in and title to the Receivables shall not be part of the
Seller’s estate in the event of the filing of a petition for insolvency, receivership or conservatorship by or against the Seller or placement into receivership or conservatorship of the Seller under any relevant bankruptcy, insolvency,
receivership or conservatorship law. 
 The foregoing sale, transfer, assignment and other conveyances of the
Receivables contemplated by the Pooling Agreement and this First Step Receivables Assignment do not constitute and are not intended to result in any assumption by Ally Auto of any obligation of the undersigned to the Obligors, Dealers, insurers or
any other Person in connection with the Receivables, any Dealer Agreements, any insurance policies or any other agreement or instrument relating to any of them. 

  
 Ex. A-1

 This First Step Receivables Assignment is made pursuant to and upon the
representations, warranties and agreements on the part of the undersigned contained in the Pooling Agreement and is to be governed by the Pooling Agreement. 
 Capitalized terms used herein and not otherwise defined herein shall have the meaning assigned to them in the Pooling Agreement. 
 *  *  *  *  * 

  
 Ex. A-2

 IN WITNESS WHEREOF, the undersigned has caused this First Step Receivables
Assignment to be duly executed as of the day and year first above written. 
  

			
	ALLY BANK
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 Ex. A-3

 SCHEDULE A 

SCHEDULE OF RECEIVABLES 
 The Schedule of Receivables is 
 on file at the offices of: 

 

	1.	 The Indenture Trustee 

  

	2.	 The Owner Trustee 

  

	3.	 The Servicer 

  

	4.	 The Seller 

  

	5.	 Ally Auto Assets LLC 

  
 Sch. A

 APPENDIX A 
 Part I 
 For ease of reference, capitalized terms
defined herein have been consolidated with and are contained in Part I of Appendix A to the Servicing Agreement of even date herewith among Ally Financial Inc., Ally Auto Assets LLC and Ally Auto Receivables Trust 2012-3, as amended and
supplemented from time to time. 
 Part II 

For ease of reference, the rules of construction have been consolidated with and are contained in Part II of Appendix
A to the Servicing Agreement of even date herewith among Ally Financial Inc., Ally Auto Assets LLC and Ally Auto Receivables Trust 2012-3, as amended and supplemented from time to time. 
 Part III 
 For ease of reference, the notice
addresses and procedures have been consolidated with and are contained in Appendix B to the Servicing Agreement of even date herewith among Ally Financial Inc., Ally Auto Assets LLC and Ally Auto Receivables Trust 2012-3, as amended and
supplemented from time to time. 

  
 App. A

 APPENDIX B 
 Additional Representations and Warranties 
  

	1.	 While it is the intention of the Seller and Ally Auto that the transfer and assignment contemplated by this Agreement and the First Step Receivables
Assignment shall constitute sales of the Purchased Property from the Seller to Ally Auto, this Agreement, the Trust Sale Agreement and the Indenture create a valid and continuing security interest (as defined in the applicable UCC) in the Purchased
Property in favor of Ally Auto, the Trust and the Indenture Trustee, as applicable, which security interest is prior to all other Liens, and is enforceable as such as against creditors of and purchasers from the Seller, Ally Auto and the Issuing
Entity, respectively. 

  

	2.	 All steps necessary to perfect the Seller’s security interest against each Obligor in the property securing the Purchased Property have been
taken. 

  

	3.	 Prior to the sale of the Purchased Property to Ally Auto under this Agreement, the Receivables constitute “tangible chattel paper” within
the meaning of the applicable UCC. 

  

	4.	 The Seller owns and has good and marketable title to the Purchased Property free and clear of any Lien, claim or encumbrance of any Person.

  

	5.	 The Seller has caused or will have caused, within ten (10) days, the filing of all appropriate financing statements in the proper filing office
in the appropriate jurisdictions under applicable law in order to perfect the security interest in the Purchased Property granted to Ally Auto hereunder, the Issuing Entity under the Trust Sale Agreement and the Indenture Trustee under the
Indenture. 

  

	6.	 Other than the security interest granted to Ally Auto pursuant to the Basic Documents, the Issuing Entity under the Trust Sale Agreement and the
Indenture Trustee under the Indenture none of the Seller, Ally Auto or the Issuing Entity has pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Purchased Property. None of the Seller, Ally Auto or the Issuing
Entity has authorized the filing of, nor is the Seller aware of, any financing statements against the Seller, Ally Auto or the Issuing Entity that include a description of collateral covering the Purchased Property other than the financing
statements relating to the security interests granted to Ally Auto, the Issuing Entity and the Indenture Trustee under the Basic Documents or any financing statement that has been terminated. The Seller is not aware of any judgment or tax lien
filings against the Seller, Ally Auto or the Issuing Entity. 

  

	7.	 The Custodian has in its possession or with third party vendors all original copies of the Receivables Files and other documents that constitute or
evidence the Receivables and the Purchased Property. The Receivables Files and other documents that constitute or evidence the Purchased Property do not have any marks or notations indicating that they have been pledged, assigned or otherwise
conveyed to any Person other than Ally Auto. 

  
 App. B-1

	 	 
All financing statements filed or to be filed against the Seller in favor of Ally Auto in connection herewith describing the Receivables contain a statement to the following effect: “A
purchase of or security interest in any collateral described in this financing statement will violate the rights of Ally Auto.” 

  
 App. B-2Amendment No. 2 to the Second Amended and Restated Rights Agreement

 Exhibit 4.3 
 AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED RIGHTS AGREEMENT 
 AMENDMENT NO. 2
TO SECOND AMENDED AND RESTATED RIGHTS AGREEMENT (this “Amendment No. 2”), executed as a Deed Poll, dated as of May 21, 2012, to the Second Amended and Restated Rights Agreement, dated as of September 8, 2009, by and among
Cooper Industries plc, a company incorporated in Ireland under registered number 471954 (the “Company”), Cooper Industries, Ltd., a Bermuda company (“Cooper Bermuda”), and Computershare Trust Company, N.A., as Rights Agent (the
“Rights Agent”) (as amended by Amendment No. 1 thereto dated as of September 2, 2011 (“Amendment No. 1”), the “Rights Agreement”). Terms used herein but not defined shall have the meaning assigned to them
in the Rights Agreement. 
 WHEREAS, the Company, Cooper Bermuda and the Rights Agent have heretofore executed and entered into
the Rights Agreement and Amendment No. 1; and 
 WHEREAS, pursuant to Section 27 of the Rights Agreement, the Company
may supplement or amend the Rights Agreement in accordance with the provisions of such Section 27; and 
 WHEREAS, in
connection with the execution of the Transaction Agreement, by and among the Company, Eaton Corporation, Abeiron Limited, Comdell Limited, Turlock B.V. and Turlock Corporation (the “Transaction Agreement”), dated as of May 21, 2012,
the Board of Directors of the Company has determined that it is in the best interests of the Company and its shareholders to amend the Rights Agreement as set forth below to render the Rights issued pursuant to the terms of the Rights Agreement
inapplicable to the Scheme (as defined in the Transaction Agreement), the Transaction Agreement and the transactions contemplated thereby. 
 NOW, THEREFORE, in consideration of the premises and the mutual agreements herein set forth, the Company and the Rights Agent hereby amend the Rights Agreement as follows: 

 

	1.	The definition of Acquiring Person in Section 1(a) of the Rights Agreement is hereby amended and supplemented by adding the following sentence at the end thereof:

 Notwithstanding anything herein to the contrary, no Person shall be deemed to be an Acquiring Person solely by
virtue of (i) the approval, execution, delivery or performance of the Transaction Agreement or the transactions contemplated thereby, (ii) the consummation of the Scheme or any other transaction contemplated by the Transaction Agreement or
(iii) the public announcement of any of the foregoing. 
  

	2.	The definition of Stock Acquisition Date in Section 1(o) of the Rights Agreement is hereby amended and supplemented by adding the following sentence at the end
thereof: 

 Notwithstanding anything herein to the contrary, a “Stock Acquisition Date” shall not be
deemed to have occurred solely as the result, directly or indirectly, of (i) the approval, execution, delivery or performance of the Transaction Agreement, (ii) the consummation of the Scheme or any other transaction contemplated by the
Transaction Agreement or (iii) the public announcement of any of the foregoing. 

  
 1 

	3.	Section 1 of the Rights Agreement is hereby further amended and supplemented to include the following new definitions in the appropriate alphabetical position,
with the other definitions being appropriately re-lettered and cross-references thereto being appropriately revised: 

 “Effective Time” shall have the meaning assigned in the Transaction Agreement. 
 “Scheme” shall have the meaning assigned in the Transaction Agreement. 

“Transaction Agreement” shall mean the Transaction Agreement, dated as of May 21, 2012, by and among the Company, Eaton
Corporation, Abeiron Limited, Comdell Limited, Turlock B.V. and Turlock Corporation (the “Transaction Agreement”). 
  

	4.	Section 3(a) of the Rights Agreement is hereby amended and supplemented by adding the following sentence at the end thereof: 

Notwithstanding anything herein to the contrary, a Distribution Date shall not be deemed to have occurred solely as the result, directly
or indirectly, of (i) the approval, execution, delivery or performance of the Transaction Agreement, (ii) the consummation of the Scheme or any other transaction contemplated by the Transaction Agreement or (iii) the public
announcement of any of the foregoing. 
  

	5.	Section 3 of the Rights Agreement is hereby amended and supplemented to add the following sentence at the end thereof as a new Section 3(c):

 Nothing herein shall be construed to give any holder of Rights or any other Person any legal or equitable
rights, remedies or claims under this Rights Agreement by virtue of (i) the approval, execution, delivery or performance of the Transaction Agreement, (ii) the consummation of the Scheme or any other transaction contemplated by the
Transaction Agreement or (iii) the public announcement of any of the foregoing. 
  

	6.	Section 7(a) of the Rights Agreement is hereby modified, amended and restated in its entirety as follows: 

(a) Subject to Section 7(e) hereof, the registered holder of any Rights Certificate may exercise the Rights evidenced thereby (except
as otherwise provided herein including, without limitation, the restrictions on exercisability set forth in Section 9(c) and Section 11(a)(iii) hereof) in whole or in part at any time after the Distribution Date upon

  
 2 

 
surrender of the Rights Certificate, with the form of election to purchase and the certificate on the reverse side thereof duly executed, to the Rights Agent at the principal office or offices of
the Rights Agent designated for such purpose, together with payment of the aggregate Purchase Price with respect to the total number of one one-hundredths of a Preferred Share (or other securities, cash or other assets, as the case may be) as to
which such surrendered Rights are then exercisable, at or prior to the earlier of (i) the earlier of (A) the close of business on August 1, 2017 and (B) immediately prior to the Effective Time (such earlier time being the
“Final Expiration Date”), (ii) the time at which the Rights are redeemed as provided in Section 23 hereof or (iii) the time at which the Rights are exchanged for Ordinary Shares or Preferred Shares as provided in
Section 24 hereof (the earlier of (i), (ii) and (iii) being herein referred to as the “Expiration Date”). The Company shall notify the Rights Agent in the event that the occurrence of the Effective Time results in the
occurrence of the Final Expiration Date, promptly after the Effective Time. 
  

	7.	Section 11(a)(ii) of the Rights Agreement is hereby amended and supplemented to add the following sentence at the end of that section: 

Notwithstanding anything contained herein to the contrary, no event requiring an adjustment under this Section 11(a)(ii) shall be
deemed to have occurred by reason of (i) the approval, execution, delivery or performance of the Transaction Agreement, (ii) the consummation of the Scheme or any other transaction contemplated by the Transaction Agreement or
(iii) the public announcement of any of the foregoing (and none of the matters described in clause (i), (ii) or (iii) shall constitute a Section 11(a)(ii) Event). 

 

	8.	Section 13 of the Rights Agreement is hereby amended and supplemented by adding the following sentence at the end thereof as a new Section 13(e):

 Notwithstanding anything contained herein to the contrary, the provisions of Section 13 of this Agreement
shall be deemed not to apply to the Scheme or any other transaction contemplated by the Transaction Agreement (and none of the Scheme or any such other transaction shall constitute a Section 13 Event). 

 

	9.	Section 29 of the Rights Agreement is hereby amended and supplemented by adding the following sentence at the end thereof: 

Nothing herein shall be construed to give any holder of Rights Certificates or any other Person any legal or equitable rights, remedies or
claims whatsoever hereunder as a result of or in connection with (i)

  
 3 

 
the approval, execution, delivery or performance of the Transaction Agreement, (ii) the consummation of the Scheme or any other transaction contemplated by the Transaction Agreement or
(iii) the public announcement of any of the foregoing. 
  

	10.	Exhibit B to the Rights Agreement, being the form of Rights Certificate, is hereby modified and amended by inserting in the first paragraph following the words
“dated as of September 8, 2009, as amended as of September 2, 2011” the words “and May 21, 2012”. 

  

	11.	If for any reason the Transaction Agreement is terminated pursuant to Clause 9 thereof, then this Amendment shall be of no further force and effect and the Rights
Agreement shall remain the same as it existed immediately prior to execution of this Amendment No. 2, and the Company shall promptly notify the Rights Agent of same. 

 

	12.	This Amendment No. 2 shall be deemed to be a contract made under the laws of Ireland and for all purposes shall be governed by and construed in accordance with the
laws of Ireland; provided, however, that all provisions regarding the rights, duties and obligations of the Rights Agent shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts applicable to contracts made
and to be performed entirely within such Commonwealth. 

  

	13.	Except as specifically amended by this Amendment No. 2, all other terms and conditions of the Rights Agreement shall remain in full force and effect and are hereby
ratified and confirmed. 

  

	14.	This Amendment No. 2 may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such
counterparts shall together constitute but one and the same instrument. A signature to this Amendment transmitted electronically shall have the same authority, effect and enforceability as an original signature. 

  
 4 

 IN WITNESS WHEREOF, this Deed Poll has been executed and delivered as a Deed on the day and
year first before written. 
 Given under the 
 Common Seal of COOPER INDUSTRIES PLC 
 By 

 

	
	 /s/ Kirk S. Hachigian

	Director
	
	 /s/ Terrance V. Helz

	Secretary

  

	
	 Signed
 by

a duly authorized representative of

COMPUTERSHARE TRUST COMPANY, N.A.

	
	 /s/ Dennis V. Moccia

	Manager, Contract Administration

  
 5

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