Document:

EX-4.2

 Exhibit 4.2 

FORM OF ASSET BACKED NOTE ISSUED BY A TRUST 
  

							
	REGISTERED	  		  		  	$[    ]

 No. R – [•] 

SEE REVERSE FOR CERTAIN DEFINITIONS 

CUSIP NO. [    ] 

Unless this Note is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to
the Issuing Entity or its agent for registration of transfer, exchange or payment, and any Note issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is
made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC)—ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof,
Cede & Co., has an interest herein. 
 THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE
OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 
 JOHN DEERE OWNER TRUST
20[    ] 
 [FLOATING RATE] [[    ]%] ASSET BACKED NOTES, 

CLASS [A-[    ]][B] 

John Deere Owner Trust 20[    ], a statutory trust organized and existing under the laws of the State of Delaware (herein
referred to as the “Issuing Entity”), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of [    ] DOLLARS payable on each Payment Date in an amount equal to the
result obtained by multiplying (i) a fraction the numerator of which is $[    ] and the denominator of which is $[    ] by (ii) the aggregate amount, if any, payable from the Note Distribution
Account in respect of principal of the Class [A-[    ][B]] Notes pursuant to Section 8.02(c) of the Indenture; provided, however, that the entire unpaid principal amount
of this Note shall be due and payable on the earlier of [    ], 20[    ] and the Redemption Date, if any, pursuant to Section 10.01(a) of the Indenture. [Except as provided in the Indenture, no payments
of principal of the Class [A-[    ][B]] Notes shall be made until the principal of the Class [A-[    ][B]] Notes has been paid in
its entirety.] The Issuing Entity will pay interest on this Note at the Class [A-[    ][B]] Note Interest Rate on each Payment Date until the principal of this Note is paid or made
available for payment, on the principal amount of this Note outstanding on the preceding Payment Date after giving effect to all payments of principal made on such preceding Payment Date (or on the initial principal amount of this Note from and
including [    ], 20[    ] in the case of the first Payment Date). Interest on this Note will accrue for each Payment Date from and including the most recent Payment Date (or, if no interest has yet been paid
on this Note, from and including [    ], 20[    ]) to but excluding such Payment Date. Interest [will be computed on the basis of the 

  

 
actual number of days in the period for which such interest is payable divided by 360] [a 360-day year consisting of twelve
30-day months]. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. All payments made by the Issuing Entity with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this Note.

 Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though
fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed by the Indenture Trustee
whose name appears below by manual signature, this Note shall not be entitled to any benefit under the indenture referred to on the reverse hereof, or be valid or obligatory for any purpose. 

  
 2 

 IN WITNESS WHEREOF, the Issuing Entity has caused this instrument to be signed, manually or
in facsimile, by its Authorized Officer. 
  

							
	Date: [    ], 20[    ]	 		 	JOHN DEERE OWNER TRUST 20[    ]
				
		 		 	By:	 	[    ], not in its individual capacity but solely as Owner Trustee under the Trust Agreement
				
		 		 	By:	 	  

		 		 		 	Name:
		 		 		 	Title:

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

			
	[    ], not in its individual capacity but solely as Indenture Trustee
		
	By:	 	  

		 	Authorized Signatory

  
 3 

 [REVERSE OF NOTE] 

This Note is one of the Class [A-[_][B]] Notes of a duly authorized issue of Notes of the Issuing
Entity, designated as its Asset Backed Notes, all issued under an Indenture dated as of [    ], 20[    ] (such indenture, as supplemented or amended, is herein called the “Indenture”), between the
Issuing Entity and [    ], as indenture trustee (the “Indenture Trustee”, which term includes any successor indenture trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is
hereby made for a statement of the respective rights and obligations thereunder of the Issuing Entity, the Indenture Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture. All terms used in this Note that are
defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended. 

The Notes are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture [; subject
to the subordination of the Class B Notes as provided in the Indenture]. 
 Principal of the Notes will be payable on each Payment Date
in an amount described on the face hereof. 
 As described above, the entire unpaid principal amount of, together with accrued and unpaid
interest on, this Note shall be due and payable on the earlier of [    ], 20[    ] and the Redemption Date, if any, pursuant to Section 10.01(a) of the Indenture. Notwithstanding the foregoing, the entire
unpaid principal amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Indenture Trustee or the Holders of the Notes representing not less than a majority of the
Outstanding Amount of the Notes have declared the Notes to be immediately due and payable in the manner provided in Section 5.02 of the Indenture. All principal payments on the Notes of a Class shall be made pro rata to the Noteholders of
such Class entitled thereto. 
 Payments of interest on this Note due and payable on each Payment Date, together with the installment
of principal, if any, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Registered Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of
business on each Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in
immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring
that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Payment Date shall be binding upon all future Holders of this Note
and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for payment in full of the then remaining
unpaid principal amount of this Note on a Payment Date, then the Indenture Trustee, in the name of and on behalf of the Issuing Entity, will notify the Person who was the Registered Holder hereof as of the Record Date preceding such Payment Date by
notice mailed 

  
 4 

 
within five days of such Payment Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Indenture Trustee’s principal Corporate
Trust Office or at the office of the Indenture Trustee’s agent appointed for such purposes located in The City of New York. 
 The
Issuing Entity shall pay interest on overdue installments of interest at a rate per annum equal to the sum of (i) the Class [A-[_][B]] Note Interest Rate and (ii) 1.0%, to the extent lawful. 

As provided in the Indenture, the Notes may be redeemed in whole, but not in part, at the option of the Servicer, on any Payment Date,
following the last day of a Collection Period as of which the Note Value is 10% or less of the initial Note Value as of the Cut-off Date. 

As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on the Note
Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuing Entity pursuant to the Indenture, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the
Indenture Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed and such other documents as the Indenture Trustee may require, and thereupon one or more new Notes of authorized
denominations and in the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to
pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange. 

Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees
that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing Entity, the Owner Trustee or the Indenture Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection
therewith, against (i) the Indenture Trustee or the Owner Trustee in their individual capacity, (ii) any owner of a beneficial interest in the Issuing Entity or (iii) any partner, owner, beneficiary, agent, officer, director or
employee of the Indenture Trustee or the Owner Trustee in their individual capacity, any holder of a beneficial interest in the Issuing Entity, the Owner Trustee or the Indenture Trustee or of any successor or assign of the Indenture Trustee or the
Owner Trustee in their individual capacity, except as any such Person may have expressly agreed and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for
stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. 
 Each Noteholder or Note Owner, by
acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees that prior to the end of the period that is one year and one day after there has been paid in full all debt issued by any securitization
vehicle in respect of which the Seller holds any interest, they will not institute against the Seller or the Trust, or join in, or assist or encourage others to institute, any institution against the Seller or the Trust of, any bankruptcy,
reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any United States federal or State bankruptcy or similar law. 

  
 5 

 Prior to the due presentment for registration of transfer of this Note, the Issuing Entity,
the Indenture Trustee and any agent of the Issuing Entity or the Indenture Trustee shall treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the
owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuing Entity, the Indenture Trustee nor any such agent shall be affected by notice to the contrary. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Issuing Entity and the rights of the Holders of the Notes under the Indenture at any time by the Issuing Entity with the consent of the Holders of Notes representing a majority of the Outstanding Amount of all Notes at the time Outstanding.
The Indenture also contains provisions permitting the Holders of Notes representing specified percentages of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuing Entity with certain
provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one or more Predecessor Notes) shall be conclusive and binding upon such Holder and upon
all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the
Indenture Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued thereunder. 

The Issuing Entity has entered into the Indenture and this Note is issued with the intention that, for federal, State and local income and
franchise tax purposes, the Notes will qualify as indebtedness secured by the Collateral. Each Noteholder, by its acceptance of a Note (and each Note Owner by its acceptance of a beneficial interest in a Note), will be deemed to agree to treat the
Notes for federal, State and local income and franchise tax purposes as indebtedness (except to the extent such Notes are retained or treated as retained by the Depositor or its affiliates for such purposes). 

Without limiting any other information or certification requirements under applicable tax law, each Noteholder or holder of an interest in
this Note, by acceptance of this Note or such interest therein, agrees to provide to the Indenture Trustee, any Paying Agent or the Issuing Entity, upon its request, the Noteholder Tax Identification Information and, to the extent FATCA Withholding
Tax is applicable, the Noteholder FATCA Information. In addition, each Noteholder or holder of an interest in this Note, by acceptance of this Note or such interest therein, agrees that the Indenture Trustee, any Paying Agent or the Issuing Entity
has the right to withhold any amounts (properly withholdable under law and without any corresponding gross-up) payable to a Noteholder or holder of an interest in this Note, either because such withholding is
required under applicable tax law or as a result of the failure of the Noteholder or holder of an interest in this Note to comply with the requirements of the preceding sentence or other provisions requiring withholding under applicable tax law.

 The term “Issuing Entity” as used in this Note includes any successor to the Issuing Entity under the Indenture. 

  
 6 

 The Issuing Entity is permitted by the Indenture, under certain circumstances, to merge or
consolidate, subject to the rights of the Indenture Trustee and the Holders of Notes under the Indenture. 
 The Notes are issuable only in
registered form in denominations as provided in the Indenture, subject to certain limitations therein set forth. 
 This Note and the
Indenture shall be construed in accordance with the laws of the State of New York and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in accordance with such laws. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuing
Entity, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed. 

Anything herein to the contrary notwithstanding, except as expressly provided in the Basic Documents, neither [    ] in
its individual capacity, [    ], in its individual capacity, any owner of a beneficial interest in the Issuing Entity, nor any of their respective partners, beneficiaries, agents, officers, directors, employees or successors or
assigns shall be personally liable for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or omission to perform, any of the covenants, obligations or indemnifications contained in this Note
or the Indenture, it being expressly understood that said covenants, obligations and indemnifications have been made by the Owner Trustee for the sole purposes of binding the interests of the Owner Trustee in the assets of the Issuing Entity. The
Holder of this Note by the acceptance hereof agrees that except as expressly provided in the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency,
loss or claim therefrom; provided, however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuing Entity for any and all liabilities, obligations and undertakings
contained in the Indenture or in this Note. 

  
 7 

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 

 

                          
                                         
                                         
                                         
                                         
                   

                          
                                         
                                         
                                         
                                         
                   
 (name and address of assignee)

 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints attorney, to transfer said Note on the books
kept for registration thereof, with full power of substitution in the premises. 
  

			
	Dated:
                                         
                                         
      	  	
                          
                                         
                     NOTE:
 The signature to
this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

		
		  	Signature Guaranteed:
		
		  	                                      
                                         
                 
		
		  	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Indenture Trustee which requirements will include membership or participation in STAMP or such other “signature
guarantee program” as may be determined by the Indenture Trustee in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.
		
		  	                                      
                                         
                 

  
 8EX-4.3

 Exhibit 4.3 
  

 
 JOHN DEERE OWNER TRUST 20[__] 

TRUST AGREEMENT 
 between 

JOHN DEERE RECEIVABLES, INC. 

Depositor 
 and 

[__] 
 Owner Trustee 

Dated as of [__], 20[__] 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	ARTICLE I	  	Page	 
			
	 	 	DEFINITIONS	  	 	 
			
	 SECTION 1.01
	 	Capitalized Terms	  	 	1	 
	 SECTION 1.02
	 	Other Definitional Provisions	  	 	3	 
		
	ARTICLE II	  			
		
	ORGANIZATION	  			
			
	 SECTION 2.01
	 	Name	  	 	4	 
	 SECTION 2.02
	 	Office	  	 	4	 
	 SECTION 2.03
	 	Purposes and Powers	  	 	4	 
	 SECTION 2.04
	 	Appointment of Owner Trustee	  	 	5	 
	 SECTION 2.05
	 	Initial Capital Contribution of Trust Estate	  	 	5	 
	 SECTION 2.06
	 	Declaration of Trust	  	 	5	 
	 SECTION 2.07
	 	Liability of the Owner	  	 	5	 
	 SECTION 2.08
	 	Title to Trust Property	  	 	6	 
	 SECTION 2.09
	 	Situs of Trust	  	 	6	 
	 SECTION 2.10
	 	Representations and Warranties of the Depositor	  	 	6	 
		
	ARTICLE III	  			
		
	CERTIFICATE AND TRANSFER OF INTERESTS	  			
			
	 SECTION 3.01
	 	Initial Ownership	  	 	7	 
	 SECTION 3.02
	 	The Certificate	  	 	7	 
	 SECTION 3.03
	 	Authentication of the Certificate	  	 	7	 
	 SECTION 3.04
	 	Exchange of the Certificate	  	 	7	 
	 SECTION 3.05
	 	Mutilated, Destroyed, Lost or Stolen Certificate	  	 	8	 
	 SECTION 3.06
	 	Persons Deemed Owners	  	 	8	 
	 SECTION 3.07
	 	Access to Certificateholder’s Name and Address	  	 	8	 
	 SECTION 3.08
	 	Maintenance of Office or Agency	  	 	8	 
	 SECTION 3.09
	 	Appointment of Paying Agent	  	 	9	 
	 SECTION 3.10
	 	Depositor as Certificateholder	  	 	9	 
	 SECTION 3.11
	 	Non-transferability of the Certificate(s)	  	 	9	 
	 SECTION 3.12
	 	Regarding the Certificate	  	 	9	 
	 SECTION 3.13
	 	Restrictions on Note Acquisitions	  	 	10	 

  
 i 

							
		
	ARTICLE IV	  			
		
	ACTIONS BY OWNER TRUSTEE	  			
			
	 SECTION 4.01
	 	Prior Notice to Owner with Respect to Certain Matters	  	 	10	 
	 SECTION 4.02
	 	Action by the Owner with Respect to Certain Matters	  	 	11	 
	 SECTION 4.03
	 	Action by the Owner with Respect to Bankruptcy	  	 	11	 
	 SECTION 4.04
	 	Restrictions on the Owner’s Power	  	 	11	 
		
	ARTICLE V	  			
		
	APPLICATION OF TRUST FUNDS; CERTAIN DUTIES	  			
			
	 SECTION 5.01
	 	Establishment of Trust Account	  	 	11	 
	 SECTION 5.02
	 	Application of Trust Funds	  	 	12	 
	 SECTION 5.03
	 	Method of Payment	  	 	12	 
	 SECTION 5.04
	 	No Segregation of Monies; No Interest	  	 	13	 
	 SECTION 5.05
	 	Accounting and Reports to the Owner, the Internal Revenue Service and Others	  	 	13	 
		
	ARTICLE VI	  			
		
	AUTHORITY AND DUTIES OF OWNER TRUSTEE	  			
			
	 SECTION 6.01
	 	General Authority	  	 	14	 
	 SECTION 6.02
	 	General Duties	  	 	14	 
	 SECTION 6.03
	 	Action upon Instruction	  	 	14	 
	 SECTION 6.04
	 	No Duties Except as Specified in This Agreement or in Instructions	  	 	15	 
	 SECTION 6.05
	 	No Action Except Under Specified Documents or Instructions	  	 	16	 
	 SECTION 6.06
	 	Restrictions	  	 	16	 
		
	ARTICLE VII	  			
		
	CONCERNING THE OWNER TRUSTEE	  			
			
	 SECTION 7.01
	 	Acceptance of Trusts and Duties	  	 	16	 
	 SECTION 7.02
	 	Furnishing of Documents	  	 	19	 
	 SECTION 7.03
	 	Representations and Warranties	  	 	19	 
	 SECTION 7.04
	 	Reliance; Advice of Counsel	  	 	20	 
	 SECTION 7.05
	 	Not Acting in Individual Capacity	  	 	20	 
	 SECTION 7.06
	 	Owner Trustee Not Liable for Certificate or Receivables	  	 	20	 
	 SECTION 7.07
	 	Owner Trustee May Own Notes	  	 	21	 
		
	ARTICLE VIII	  			
		
	COMPENSATION OF OWNER TRUSTEE	  			
			
	 SECTION 8.01
	 	Owner Trustee’s Fees and Expenses	  	 	21	 
		 		  			

  
 ii 

							
	 SECTION 8.02
	 	Indemnification	  	 	21	 
	 SECTION 8.03
	 	Payments to the Owner Trustee	  	 	22	 
		
	ARTICLE IX	  			
		
	TERMINATION OF TRUST AGREEMENT	  			
			
	 SECTION 9.01
	 	Termination of Trust Agreement	  	 	22	 
	 SECTION 9.02
	 	Dissolution upon Bankruptcy of the Depositor	  	 	23	 
		
	ARTICLE X	  			
		
	SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES	  			
			
	 SECTION 10.01
	 	Eligibility Requirements for Owner Trustee	  	 	23	 
	 SECTION 10.02
	 	Resignation or Removal of Owner Trustee	  	 	24	 
	 SECTION 10.03
	 	Successor Owner Trustee	  	 	25	 
	 SECTION 10.04
	 	Merger or Consolidation of Owner Trustee	  	 	25	 
	 SECTION 10.05
	 	Appointment of Co-Trustee or Separate Trustee	  	 	25	 
		
	ARTICLE XI	  			
		
	MISCELLANEOUS	  			
			
	 SECTION 11.01
	 	Supplements and Amendments	  	 	27	 
	 SECTION 11.02
	 	No Legal Title to Owner Trust Estate in the Owner	  	 	28	 
	 SECTION 11.03
	 	Limitations on Rights of Others	  	 	28	 
	 SECTION 11.04
	 	Notices	  	 	28	 
	 SECTION 11.05
	 	Severability	  	 	28	 
	 SECTION 11.06
	 	Separate Counterparts	  	 	29	 
	 SECTION 11.07
	 	Successors and Assigns	  	 	29	 
	 SECTION 11.08
	 	Covenant of the Depositor	  	 	29	 
	 SECTION 11.09
	 	No Petition	  	 	29	 
	 SECTION 11.10
	 	No Recourse	  	 	29	 
	 SECTION 11.11
	 	Headings	  	 	30	 
	 SECTION 11.12
	 	GOVERNING LAW	  	 	30	 
	 SECTION 11.13
	 	WAIVER OF JURY TRIAL	  	 	30	 
	 SECTION 11.14
	 	Depositor Payment Obligation	  	 	30	 
	 SECTION 11.15
	 	Administrator	  	 	30	 
	 SECTION 11.16
	 	Communication with Rating Agencies	  	 	30	 
	 SECTION 11.17
	 	USA PATRIOT Act Compliance	  	 	31	 
		
	 EXHIBIT A Form of Certificate
	  	 	A-1	 
	 EXHIBIT B Certificate of Trust of John Deere Owner Trust 20[__]
	  	 	B-1	 
		 		  			

  
 iii 

 TRUST AGREEMENT, dated as of [__], 20[__], between John Deere Receivables, Inc., a Nevada
corporation, as Depositor, and [__], a [__], as Owner Trustee. 
 ARTICLE I 

DEFINITIONS 

SECTION 1.01 Capitalized Terms. For all purposes of this Agreement, the following terms shall have the meanings set forth below:

 “Administration Agreement” means the Administration Agreement to be dated as of [    ],
20[    ], among the Administrator, the Trust and the Indenture Trustee, as the same may be amended, modified or supplemented from time to time. 

“Administrator” means John Deere Capital Corporation, a Delaware corporation, or any successor Administrator under the
Administration Agreement. 
 “Agreement” shall mean this Trust Agreement, as the same may be amended and supplemented from time to
time. 
 “Basic Documents” shall mean the Purchase Agreement, the Sale and Servicing Agreement, the Indenture, the Administration
Agreement, the Depository Agreement, the Asset Representations Review Agreement and the other documents and certificates delivered in connection therewith. 

“Certificate” shall mean a certificate evidencing the beneficial interest of the Owner in the Trust, substantially in the form
attached hereto as Exhibit A. 
 “Certificate Distribution Account” shall have the meaning assigned to such term in
Section 5.01. 
 “Certificate of Trust” shall mean the Certificate of Trust in the form of Exhibit B to be filed for the
Trust pursuant to Section 3810(a) of the Trust Statute. 
 “Certificate Register” and “Certificate Registrar” shall
mean the register mentioned and the registrar appointed pursuant to Section 3.04. 
 “Certificateholder” shall mean the
Depositor. 
 “Code” shall mean the Internal Revenue Code of 1986, as amended. 

“Corporate Trust Office” shall mean, (i) with respect to the Owner Trustee, the corporate trust office of the Owner Trustee
located at [__], Attention: [__]; or at such other address as the Owner Trustee may designate by notice to the Owners and the Depositor, or the principal corporate trust office of any successor Owner Trustee (the address of which the successor owner
trustee will notify the Owners and the Depositor) and (ii) means with respect to the Paying Agent and the Certificate Registrar, the office [of the Indenture Trustee at which at any particular time its corporate trust business shall be
administered which office at the date of the execution of this 

 
Agreement is] located at [__], Attention: [__], facsimile No.: [__], or at such other address as the Paying Agent and the Certificate Registrar may designate from time to time by notice to the
Owners and the Depositor, or the corporate trust office of any successor Paying Agent or the Certificate Registrar (the address of which the successor paying agent and the certificate registrar will notify the Owners and the Depositor). 

“Depositor” shall mean John Deere Receivables, Inc., in its capacity as Depositor hereunder. 

“Depository Agreement” means the agreement executed by the Trust and delivered to The Depository Trust Company, dated on or about
the Closing Date, substantially in the form of Exhibit C to the Indenture. 
 “Expenses” shall have the meaning assigned to such
term in Section 8.02. 
 “Indenture” shall mean the Indenture, to be dated as of [__], 20[__], between the Trust and the
Indenture Trustee, as the same may be amended and supplemented from time to time. 
 “Indenture Trustee” shall mean [__], not in
its individual capacity but solely as Indenture Trustee under the Indenture. 
 “JDCC” shall mean John Deere Capital Corporation,
a Delaware corporation. 
 “Owner” shall mean the Certificateholder. 

“Owner Trust Estate” shall mean all right, title and interest of the Trust in and to the property and rights assigned to the Trust
pursuant to Article II of the Sale and Servicing Agreement, all funds on deposit from time to time in the Trust Accounts and the Certificate Distribution Account and all other property of the Trust from time to time, including any rights of the
Owner Trustee and the Trust pursuant to the Sale and Servicing Agreement and the Administration Agreement. 
 “Owner Trustee”
shall mean [__] a [__], not in its individual capacity but solely as owner trustee under this Agreement, and any successor Owner Trustee hereunder. 

“Paying Agent” shall mean any paying agent or co-paying agent appointed pursuant to
Section 3.09 and shall initially be [__], a [__]. 
 “Purchase Agreement” shall mean the Purchase Agreement, to be dated as
of [__], 20[__], between JDCC and the Depositor, as the same may be amended, modified or supplemented from time to time. 
 “Record
Date” shall mean, with respect to any Payment Date, the close of business on the last day of the calendar month immediately preceding the calendar month in which the Payment Date occurs. 

“Representatives” means [__] and [__], in their capacity as the representatives under the Underwriting Agreement. 

  
 2 

 “Responsible Officer” means, with respect to the Owner Trustee, any officer within
the Corporate Trust Office of the Owner Trustee who shall have direct responsibility for the administration of the Trust Agreement and the other Basic Documents on behalf of the Owner Trustee, including any Vice President, Assistant Vice President,
Assistant Treasurer, Assistant Secretary, or any other officer of the Owner Trustee customarily performing functions similar to those performed by any of the above designated officers and also, with respect to a particular matter, any other officer
to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 
 “Sale and
Servicing Agreement” shall mean the Sale and Servicing Agreement among the Trust, the Depositor, as seller, and JDCC, as servicer, to be dated as of [__], 20[__], as the same may be amended, modified or supplemented from time to time. 

“Secretary of State” shall mean the Secretary of State of the State of Delaware. 

“Treasury Regulations” shall mean regulations, including proposed or temporary regulations, promulgated under the Code. References
herein to specific provisions of proposed or temporary regulations shall include analogous provisions of final Treasury Regulations or other successor Treasury Regulations. 

“Trust” shall mean the trust established by this Agreement. 

“Trust Statute” shall mean Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code Section 3801 et seq., as the same may be
amended from time to time. 
 “Underwriting Agreement” means the Underwriting Agreement dated [__], 20[__], among JDCC, the
Depositor and the Representatives, each on their own behalf and as representatives of the underwriters set forth on the signature pages thereto. 

SECTION 1.02 Other Definitional Provisions. 

(a) Capitalized terms used herein and not otherwise defined have the meanings assigned to them in the Sale and Servicing Agreement or, if not
defined therein, in the Indenture. 
 (b) All terms defined in this Agreement shall have the defined meanings when used in any certificate or
other document made or delivered pursuant hereto unless otherwise defined therein. 
 (c) As used in this Agreement and in any certificate or
other document made or delivered pursuant hereto or thereto, accounting terms not defined in this Agreement or in any such certificate or other document, and accounting terms partly defined in this Agreement or in any such certificate or other
document to the extent not defined, shall have the respective meanings given to them under generally accepted accounting principles in the United States. To the extent that the definitions of accounting terms in this Agreement or in any such
certificate or other document are inconsistent with the meanings of such terms under generally accepted accounting principles in the United States, the definitions contained in this Agreement or in any such certificate or other document shall
control. 

  
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 (d) The words “hereof,” “herein,” “hereunder” and words of
similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement; Section and Exhibit references contained in this Agreement are references to Sections and Exhibits in or to
this Agreement unless otherwise specified; and the term “including” shall mean “including without limitation.” 
 (e) The
definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such terms. 

ARTICLE II 

ORGANIZATION 

SECTION 2.01 Name. The Trust created hereby shall be known as “John Deere Owner Trust 20[__]” in which name the Owner
Trustee may conduct the business of the Trust, make and execute contracts and other instruments on behalf of the Trust and sue and be sued. 

SECTION 2.02 Office. The office of the Trust shall be in care of the Owner Trustee at the Corporate Trust Office or at such other
address as the Owner Trustee may designate by written notice to the Owners and the Depositor. 
 SECTION 2.03 Purposes and
Powers. The purpose of the Trust is to engage in the following activities: 
 (a) to issue the Notes pursuant to the Indenture and to
sell the Notes upon the written order of the Depositor, and pursuant to this Agreement to issue a Certificate to the Depositor upon the written order of the Depositor; 

(b) with the proceeds of the sale of the Notes and the issuance of the Certificate, to pay the Depositor the amounts owed pursuant to
Section 2.01 of the Sale and Servicing Agreement, by directing the Representatives to wire transfer such proceeds in accordance with instructions received from the Depositor; 

(c) with the proceeds from capital contributions from the Depositor, to pay organizational and transactional expenses of the Trust; 

(d) to assign, grant, transfer, pledge, mortgage and convey the Trust Estate (as defined in the Indenture) pursuant to the Indenture and to
hold, manage and distribute to the Owner pursuant to the terms of the Sale and Servicing Agreement any portion of the Trust Estate released from the Lien of, and remitted to the Trust pursuant to, the Indenture; 

(e) to enter into and perform its obligations under the Basic Documents to which it is to be a party; 

(f) to engage in those activities, including entering into agreements, that are necessary, suitable or convenient to accomplish the foregoing
or are incidental thereto or connected therewith; and 

  
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 (g) subject to compliance with the Basic Documents, to engage in such other activities as
may be required in connection with conservation of the Owner Trust Estate and the making of distributions to the Owner and the Noteholders. 

The Trust shall not engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of
this Agreement or the Basic Documents. 
 SECTION 2.04 Appointment of Owner Trustee. The Depositor hereby appoints the Owner
Trustee as trustee of the Trust effective as of the date hereof, to have all the rights, powers and duties set forth herein. 

SECTION 2.05 Initial Capital Contribution of Trust Estate. The Depositor hereby sells, assigns, transfers, conveys and sets over
to the Owner Trustee, as of the date hereof, the sum of $1.00. The Owner Trustee hereby acknowledges receipt in trust from the Depositor, as of the date hereof, of the foregoing contribution, which shall constitute the initial Owner Trust Estate and
shall be deposited in the Certificate Distribution Account. The Depositor shall pay organizational expenses of the Trust as they may arise or shall, upon the request of the Owner Trustee, promptly reimburse the Owner Trustee for any such expenses
paid by the Owner Trustee. 
 SECTION 2.06 Declaration of Trust. The Owner Trustee hereby declares that it will hold the Owner
Trust Estate in trust upon and subject to the conditions set forth herein for the use and benefit of the Owner, subject to the obligations of the Trust under the Basic Documents. It is the intention of the parties hereto that the Trust constitute a
statutory trust under the Trust Statute and that this Agreement constitute the governing instrument of such statutory trust. It is the intention of the parties that the Trust will be disregarded as an entity separate from the Owner for U.S. federal
income tax purposes as provided by Treasury Regulation Section 301.7701-3(b)(1)(ii). In the event, however, that during its term the Trust has more than one beneficial owner or member, then the parties
agree, for U.S. federal income tax purposes, to treat the Trust as a partnership and to take no action inconsistent with the treatment of the Trust as a partnership. In such event, the parties agree that, unless otherwise required by appropriate tax
authorities, the Trust will elect to be treated as a partnership and will file or cause to be filed annual or other necessary returns, reports and other forms consistent with the characterization of the Trust as a partnership for such tax purposes
and in accordance with Section 5.05 herein. Effective as of the date hereof, the Owner Trustee shall have all rights, powers and duties set forth herein and in the Trust Statute with respect to accomplishing the purposes of the Trust. In no
event shall the Trust elect to be treated as an association taxable as a corporation. 
 SECTION 2.07 Liability of the Owner.

 (a) The Depositor shall be liable directly to and will indemnify the injured party for all losses, claims, damages, liabilities and
expenses of the Trust (including Expenses, to the extent not paid out of the Owner Trust Estate) to the extent that the Depositor would be liable if the Trust were a partnership under the Delaware Revised Uniform Limited Partnership Act in which the
Depositor were a general partner; provided, however, that the Depositor shall not be liable for any losses incurred by a Certificateholder in the capacity of an investor in the Certificate or a Noteholder in the capacity of an investor in the Notes.
In addition, any 

  
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third-party creditors of the Trust (other than in connection with the obligations described in the preceding proviso, for which the Depositor shall not be
liable) shall be deemed third-party beneficiaries of this paragraph. The obligations of the Depositor under this paragraph shall be evidenced by the Certificate described in Section 3.10. 

(b) The Owner, other than to the extent set forth in paragraph (a), shall not have any personal liability for any liability or obligation of
the Trust. 
 SECTION 2.08 Title to Trust Property. Legal title to all the Owner Trust Estate shall be vested at all times in
the Trust as a separate legal entity except where applicable law in any jurisdiction requires title to any part of the Owner Trust Estate to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Owner Trustee, a
co-trustee and/or a separate trustee, as the case may be. 
 SECTION 2.09 Situs of
Trust. The Trust will be located in the State of Delaware. All bank accounts maintained by the Owner Trustee on behalf of the Trust shall be located in the State of Delaware. The Trust shall not have any employees in any State other than
Delaware; provided, however, that nothing herein shall restrict or prohibit the Owner Trustee from having employees within or without the State of Delaware. 

SECTION 2.10 Representations and Warranties of the Depositor. The Depositor hereby represents and warrants to the Owner Trustee
that: 
 (a) the Depositor is duly organized and validly existing as a corporation in good standing under the laws of the State of Nevada,
with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted; 

(b) the Depositor is duly qualified to do business as a foreign corporation in good standing, and has obtained all necessary licenses and
approvals in all jurisdictions in which the failure to so qualify or to obtain such license or approval would render any Receivable unenforceable that would otherwise be enforceable by the Depositor, the
Sub-Servicer or the Owner Trustee; 
 (c) the Depositor has the power and authority to execute and
deliver this Agreement and to carry out its terms; the Depositor has full power and authority to sell and assign the property to be sold and assigned to and deposited with the Trust and the Depositor shall have duly authorized such sale and
assignment and deposit to the Trust by all necessary corporate action; and the execution, delivery and performance of this Agreement has been duly authorized by the Depositor by all necessary corporate action; and 

(d) the consummation of the transactions contemplated by this Agreement and the fulfillment of the terms hereof do 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 incorporation or by-laws of the Depositor, or any indenture,
agreement or other instrument to which the Depositor is a party or by which it is bound; nor 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 pursuant to the Basic Documents); nor violate any law 

  
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or, to the best of the Depositor’s knowledge, any order, rule or regulation applicable to the Depositor of any court or of any Federal or State regulatory body, administrative agency or
other governmental instrumentality having jurisdiction over the Depositor or its properties. 
 ARTICLE III 

CERTIFICATE AND TRANSFER OF INTERESTS 

SECTION 3.01 Initial Ownership. Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.05
and until the termination of the Trust, the Depositor shall be the sole beneficiary of the Trust. 
 SECTION 3.02 The
Certificate. The Certificate shall be issued in a registered, definitive, physical certificate substantially in the form of Exhibit A. The Certificate shall be indivisible and represent one hundred percent (100%) of the beneficial interest
in the Trust. The Certificate shall be executed on behalf of the Trust by manual or facsimile signature of a Trust Officer of the Owner Trustee. The Certificate bearing the manual or facsimile signatures of individuals who were, at the time when
such signatures shall have been affixed, authorized to sign on behalf of the Trust, shall, when authenticated pursuant to Section 3.03, be validly issued and entitled to the benefits of this Agreement, notwithstanding that such individuals or
any of them shall have ceased to be so authorized prior to the authentication and delivery of the Certificate or did not hold such offices at the date of authentication and delivery of the Certificate. 

SECTION 3.03 Authentication of the Certificate. Concurrently with the initial sale of the Receivables to the Trust pursuant to the
Sale and Servicing Agreement, the Owner Trustee shall cause the Certificate to be executed on behalf of the Trust, authenticated and delivered to the Depositor. The Certificate shall not entitle its holder to any benefit under this Agreement, or be
valid for any purpose, unless there shall appear on such Certificate a certificate of authentication substantially in the form set forth in Exhibit A, executed by the Owner Trustee or the Owner Trustee’s authentication agent, by manual
signature; such authentication shall constitute conclusive evidence that such Certificate shall have been duly authenticated and delivered hereunder. The Certificate shall be dated the date of its authentication. 

SECTION 3.04 Exchange of the Certificate. The Certificate Registrar shall keep or cause to be kept, at the office or agency
maintained pursuant to Section 3.08, a Certificate Register in which, subject to such reasonable regulations as it may prescribe, the Owner Trustee shall provide for the registration of the Certificate and of exchanges of the Certificate as
herein provided. [__] shall be the initial Certificate Registrar. 
 At the option of the Certificateholder, the Certificate may be
exchanged for other Certificates representing the same undivided beneficial interest in the Trust upon surrender of the Certificate to be exchanged at the office or agency maintained pursuant to Section 3.08. 

Every Certificate presented or surrendered for exchange shall be accompanied by a written instrument of exchange in a form satisfactory to the
Owner Trustee and the Certificate Registrar duly executed by the Certificateholder or its attorney duly authorized in writing. Each Certificate surrendered for registration of exchange shall be cancelled and subsequently disposed of by the Owner
Trustee in accordance with its customary practice. 

  
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 No service charge shall be made for any registration of transfer or exchange of the
Certificate, but the Owner Trustee or the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer or exchange of the Certificate. 

No transfer of a Certificate or any interest therein shall be made unless the holder of such Certificate shall have first surrendered such
Certificate to the Certificate Registrar for registration of transfer, or if such Certificate shall have been mutilated, destroyed, lost or stolen, the holder of such Certificate shall first comply with Section 3.05 hereof. 

SECTION 3.05 Mutilated, Destroyed, Lost or Stolen Certificate. If (a) any mutilated Certificate shall be surrendered to the
Certificate Registrar, or if the Certificate Registrar shall receive evidence to its satisfaction of the destruction, loss or theft of any Certificate and (b) there shall be delivered to the Certificate Registrar and the Owner Trustee such
security or indemnity as may be required by them to hold each of them harmless, then in the absence of notice that such Certificate shall have been acquired by a protected purchaser, the Owner Trustee on behalf of the Trust shall execute and the
Owner Trustee, or the Owner Trustee’s authenticating agent, shall authenticate and deliver, in exchange for, or in lieu of, any such mutilated, destroyed, lost or stolen Certificate, a new Certificate of like tenor and denomination. In
connection with the issuance of any new Certificate under this Section, the Owner Trustee or the Certificate Registrar may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection
therewith. Any duplicate Certificate issued pursuant to this Section shall constitute conclusive evidence of an ownership interest in the Trust, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any
time. 
 SECTION 3.06 Persons Deemed Owners. The Owner Trustee or the Certificate Registrar or any Paying Agent may treat the
Person in whose name any Certificate shall be registered in the Certificate Register as the owner of such Certificate for the purpose of receiving distributions pursuant to Section 5.02 and for all other purposes whatsoever, and none of the
Owner Trustee, the Certificate Registrar or any Paying Agent shall be bound by any notice to the contrary. 
 SECTION 3.07 Access to
Certificateholder’s Name and Address. The Owner Trustee shall furnish or cause to be furnished to the Servicer and the Depositor, within 15 days after receipt by the Owner Trustee of a request therefor from the Servicer or the
Depositor in writing, the name and address of the Certificateholder as of the most recent Record Date. 
 SECTION 3.08 Maintenance
of Office or Agency. The Owner Trustee shall maintain an office or offices or agency or agencies where the Certificate may be surrendered for registration of exchange and where notices and demands to or upon the Owner Trustee in respect of the
Certificate and the Basic Documents may be served. The Owner Trustee initially designates the Corporate Trust Office of the Certificate Registrar as the office where the Certificate may be surrendered for exchange or transfer. The Owner Trustee
shall give prompt written notice to the Depositor and to the Certificateholder of any change in the location of the Certificate Register or any such office or agency. 

  
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 SECTION 3.09 Appointment of Paying Agent. The Paying Agent shall make
distributions to the Certificateholder from the Certificate Distribution Account pursuant to Section 5.02 and shall report the amounts of such distributions to the Owner Trustee. Any Paying Agent shall have the revocable power to withdraw funds
from the Certificate Distribution Account for the purpose of making the distributions referred to above. The Owner Trustee may revoke such power and remove the Paying Agent if the Owner Trustee determines in its sole discretion that the Paying Agent
shall have failed to perform its obligations under this Agreement in any material respect. The Paying Agent shall initially be [__], and any co-paying agent chosen by the Paying Agent and acceptable to the
Owner Trustee. The Paying Agent shall be permitted to resign as Paying Agent upon 30 days’ written notice to the Owner Trustee and the Depositor. In the event that [__] shall no longer be the Paying Agent, the Owner Trustee shall appoint a
successor to act as Paying Agent (which shall be a bank or trust company). The Owner Trustee shall cause such successor Paying Agent or any additional Paying Agent appointed by the Owner Trustee to execute and deliver to the Owner Trustee an
instrument in which such successor Paying Agent or additional Paying Agent shall agree with the Owner Trustee that as Paying Agent, such successor Paying Agent or additional Paying Agent will hold all sums, if any, held by it for payment to the
Certificateholder in trust for the benefit of the Certificateholder until such sums shall be paid to the Certificateholder. The Paying Agent shall return all unclaimed funds to the Owner Trustee (subject to applicable escheatment laws) and upon
removal of a Paying Agent such Paying Agent shall also return all funds in its possession to the Owner Trustee. The provisions of Sections 7.01, 7.03 and 7.04 hereof and Section 6.07 of the Indenture shall apply to [__] or any affiliate thereof
in its role as Paying Agent or Certificate Registrar for so long as [__] or any affiliate thereof shall act as Paying Agent or Certificate Registrar, and to the extent applicable, to any other certificate registrar or paying agent appointed
hereunder. Any reference in this Agreement to the Paying Agent shall include any co-paying agent unless the context requires otherwise. 

SECTION 3.10 Depositor as Certificateholder. On the Closing Date, the Depositor shall acquire the Certificate representing the
undivided beneficial interest in the Trust and, thereafter, shall retain beneficial and record ownership of the Certificate representing such undivided beneficial interest in the Trust. Any attempted transfer of any Certificate that would reduce
such interest of the Depositor shall be void. The Owner Trustee shall cause any Certificate issued to the Depositor to contain a legend stating “THIS CERTIFICATE IS NOT TRANSFERABLE”. 

SECTION 3.11 Non-transferability of the Certificate(s). To the fullest extent
permitted by law, notwithstanding anything herein to the contrary, the Certificate is not transferable and shall remain registered in the name of John Deere Receivables, Inc. 

SECTION 3.12 Regarding the Certificate. Each Certificateholder, by its acceptance of a Certificate issued hereunder, represents
that it has, independently and without reliance on the Owner Trustee or any other Person, and based on such documents and information as it has deemed appropriate, made its own investment decision in respect of the Certificate. Each
Certificateholder also represents that it will, independently and without reliance on the Owner 

  
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Trustee or any other Person, and based on such documents and information as it shall deem appropriate at the time, continue to make its own decisions in taking or not taking action under this
Trust Agreement and in connection with the Certificate. Except for notices, reports and other documents expressly required to be furnished to the Certificateholders by the Owner Trustee hereunder, the Owner Trustee shall not have any duty or
responsibility to provide any Certificateholder with any other information concerning the transactions contemplated hereby, the Trust, the Depositor or any other parties hereto or to any related documents which may come into the possession of the
Owner Trustee or any of its officers, directors, employees, agents, representatives or attorneys-in-fact. 

SECTION 3.13 Restrictions on Note Acquisitions. Neither a member of any “expanded group” (as defined in Treasury
Regulation Section 1.385-1(c)(4)) that includes the Trust or a beneficial owner of a Certificate nor a “controlled partnership” (as defined in Treasury Regulation
Section 1.385-1(c)(1)) of such expanded group shall acquire any Notes from the Trust, any Affiliate, or through the marketplace prior to obtaining an Opinion of Counsel stating that (i) the
acquisition or reacquisition of such Note will not cause the Trust, initially upon such acquisition or subsequent to the acquisition, to be classified as an association or publicly traded partnership treated as a corporation for federal income tax
purposes and will not cause the Note to be recharacterized as stock pursuant to Treasury Regulations under section 385 of the Code. The preceding sentence shall not apply to (i) any U.S. corporate member of the same U.S. corporate affiliated
group (as defined in Section 1504 of the Code) filing a consolidated federal income tax return that includes the Trust or every applicable beneficial owner of a Certificate (the “Trust Consolidated Group”) or (ii) a partnership
all of the partners of which are U.S. corporate members of the Trust Consolidated Group. No member of any “expanded group” that includes the Trust or a beneficial owner of a Certificate (as defined in Treasury Regulation Section 1.385-1(c)(4)) or “controlled partnership” of such expanded group (as defined in Treasury Regulation Section 1.385-1(c)(1)) shall transfer any
Notes outside the expanded group prior to obtaining an Opinion of Counsel stating that the transfer of such Note will not cause the Trust to be classified as an association or publicly traded partnership treated as a corporation for federal income
tax purposes and will not cause the Note to be recharacterized as stock pursuant to Treasury Regulations under section 385 of the Code. 

ARTICLE IV 

ACTIONS BY OWNER TRUSTEE 

SECTION 4.01 Prior Notice to Owner with Respect to Certain Matters. With respect to the following matters, the Owner Trustee shall
not take action unless at least 30 days before the taking of such action, the Owner Trustee shall have notified the Certificateholder in writing of the proposed action and the Owner shall not have notified the Owner Trustee in writing prior to the
30th day after such notice is given that the Owner has withheld consent or provided alternative direction: 
 (a) the initiation of any
claim or lawsuit by the Trust (other than an action to collect on a Receivable) and the compromise of any action, claim or lawsuit brought by or against the Trust (other than an action to collect on a Receivable); 

  
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 (b) the election by the Trust to file an amendment to the Certificate of Trust; 

(c) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is required; 

(d) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is not required and such
amendment materially adversely affects the interest of the Owner; 
 (e) the amendment, change or modification of the Administration
Agreement, except to cure any ambiguity or to amend or supplement any provision in a manner that would not materially adversely affect the interests of the Owner; or 

(f) the appointment pursuant to the Indenture of a successor Note Registrar, Paying Agent or Indenture Trustee or pursuant to this Agreement of
a successor Certificate Registrar, or the consent to the assignment by the Note Registrar, Paying Agent or Indenture Trustee or Certificate Registrar of its obligations under the Indenture or this Agreement, as applicable. 

SECTION 4.02 Action by the Owner with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the
written direction of the Owner and the Holders of not less than a majority of the Outstanding Amount of the Notes, to (a) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof, (b) appoint a
successor Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 8.01 thereof or (d) except as expressly provided in the Basic
Documents, sell the Receivables after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Owner. 

SECTION 4.03 Action by the Owner with Respect to Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary
proceeding in bankruptcy relating to the Trust without the prior written approval of the Owner and the Holders of not less than a majority of the Outstanding Amount of the Notes and the delivery to the Owner Trustee by the Owner of a certificate
certifying that the Owner reasonably believes that the Trust is insolvent. 
 SECTION 4.04 Restrictions on the
Owner’s Power. The Owner shall not direct the Owner Trustee to take or refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Agreement or any
of the Basic Documents or would be contrary to Section 2.03 nor shall the Owner Trustee be obligated to follow any such direction, if given. 

ARTICLE V 

APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 

SECTION 5.01 Establishment of Trust Account. The Paying Agent, for the benefit of the Certificateholder, shall establish and
maintain in the name of the Trust an Eligible Deposit Account (the “Certificate Distribution Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Certificateholder. 

  
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 The Paying Agent shall possess all right, title and interest in all funds on deposit from
time to time in the Certificate Distribution Account and in all proceeds thereof. Except as otherwise provided herein, the Certificate Distribution Account shall be under the sole dominion and control of the Paying Agent for the benefit of the
Certificateholder. If, at any time, the Certificate Distribution Account ceases to be an Eligible Deposit Account, the Paying Agent (or the Depositor on behalf of the Paying Agent, if the Certificate Distribution Account is not then held by the
Paying Agent or an affiliate thereof) shall within 10 Business Days following notification of such occurrence (or such longer period, not to exceed 30 calendar days, as to which the Rating Agency Condition is satisfied) establish a new Certificate
Distribution Account as an Eligible Deposit Account and shall transfer any cash and/or any investments to such new Certificate Distribution Account. 

SECTION 5.02 Application of Trust Funds. 

(a) On each Payment Date, the Paying Agent will distribute to the Certificateholder amounts deposited in the Certificate Distribution Account
pursuant to Sections 5.04 and 5.05 of the Sale and Servicing Agreement on such Payment Date. 
 (b) On each Payment Date, the Paying Agent
shall make available on its website at [__] for the benefit of the Certificateholder the statement provided to the Indenture Trustee by the Servicer pursuant to Section 5.06(a) of the Sale and Servicing Agreement on such Payment Date. 

(c) Any Certificateholder shall be required to deliver to the Paying Agent, the Depositor and the Trust prior to the first Payment Date and at
any time or times required by applicable law, (i) a correct, complete and properly executed U.S. Internal Revenue Service Form W-9, W-8BEN, W-8BEN-E, W-8ECI, W-8IMY or W-8EXP (with appropriate
attachments), as applicable and (ii) any documentation that is required under FATCA or is otherwise necessary (in the sole determination of the Trust, the Depositor, the Paying Agent or other agent of the Trust, as applicable), to enable the
Trust, the Depositor, the Paying Agent and any other agent of the Trust to determine their duties and liabilities with respect to any taxes they may be required to withhold pursuant to such Code sections in respect of such Certificate or the
Certificateholder of such Certificate or beneficial interest therein. In addition, each holder of a Certificate will be deemed to understand that the Paying Agent has the right to withhold on amounts payable with respect to the Certificate or
beneficial interest therein. In addition, each holder of a Certificate will be deemed to understand that the Paying Agent has the right to withhold on amounts payable with respect to the Certificate (without any corresponding gross-up) if required. The Depositor hereby covenants with the Paying Agent that the Depositor will use reasonable efforts to provide the Paying Agent with sufficient information so as to enable the Paying Agent to
determine whether or not the Paying Agent is obliged to make any FATCA withholding tax in respect of any payments with respect to a Certificate (and if applicable, to use reasonable efforts to provide the necessary detailed information to effectuate
the FATCA withholding tax, such as setting forth applicable amounts to be withheld). 
 SECTION 5.03 Method of Payment. Subject
to Section 9.01(c), distributions required to be made to the Certificateholder on any Payment Date shall be made to the Certificateholder of record on the preceding Record Date either by wire transfer, in immediately

  
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available funds, to the account of the Certificateholder at a bank or other entity having appropriate facilities therefor, if the Certificateholder shall have provided to the Certificate
Registrar appropriate written instructions at least five Business Days prior to such Payment Date or, if not, by check mailed to the Certificateholder at the address of the Certificateholder appearing in the Certificate Register. 

SECTION 5.04 No Segregation of Monies; No Interest. Subject to Sections 5.01 and 5.02, monies received by the Paying Agent
hereunder need not be segregated in any manner except to the extent required by law or the Sale and Servicing Agreement and may be deposited under such general conditions as may be prescribed by law, and the Paying Agent shall not be liable for any
interest thereon. 
 SECTION 5.05 Accounting and Reports to the Owner, the Internal Revenue Service and Others. 

(a) The Owner Trustee (or the Administrator on its behalf pursuant to the Administration Agreement) shall (a) maintain (or cause to be
maintained) the books of the Trust on a fiscal year basis using a 52 or 53 week fiscal year ending on the last Sunday in the reporting period (or such other period as may be required by applicable law or as otherwise determined by the Trust), with
the first year being a short year ending October 28, 20XX, and on the accrual method of accounting, (b) deliver to the Owner, as may be required by the Code and applicable Treasury Regulations, such information as may be required to enable
the Owner to prepare its federal and state income tax returns, (c) file such tax returns relating to the Trust as directed by the Owner and make such elections as directed by the Owner as may from time to time be required or appropriate under
any applicable State or federal statute or rule or regulation thereunder so as to maintain the Trust’s characterization as disregarded as a separate entity from the Owner for U.S. federal income tax purposes, and (d) in the event that
during its term the Trust has more than one beneficial owner or member as determined for such purposes, deliver to each beneficial owner or member and file such returns as directed by the Owner to treat the Trust as a partnership. 

(b) By acceptance of its ownership interest in the Certificate, each beneficial owner agrees that in the event that the Trust is classified as
a partnership for federal income tax purposes, the Depositor, for as long as it is the Owner, and thereafter, the largest percentage beneficial owner of the Certificate, shall be (i) the “tax matters partner” (within the meaning of
Code Section 6231(a)(7) prior to the effectiveness of P.L. 114-74, the Bipartisan Budget Act of 2015) for applicable state and local tax purposes and (ii) the “partnership representative”
within the meaning of Section 6223 of the Code, and the Trust will make the election described in Section 6226 of the Code. If the Trust is obligated to pay any amount to a governmental agency or body or to any other Person (or
otherwise makes a payment) because of a Certificateholder’s status or otherwise specifically attributable to a Certificateholder (including any taxes arising under P.L. 114-74, the Bipartisan Budget Act
of 2015, and changes to the Code relating thereto), then such Certificateholder shall, at the Trust’s sole election, either (i) pay the entire amount (including any interest, penalties and expenses associated with such payment) the Trust
is obligated to pay because of such Certificateholder’s status or attributable to such Certificateholder to the Trust at least five days prior to the due date for such payment by the Trust, or (ii) promptly reimburse the Trust in full for
the entire amount any and all such amounts paid by or on behalf of the Trust (including any interest, penalties and expenses associated with such payment). 

  
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 ARTICLE VI 

AUTHORITY AND DUTIES OF OWNER TRUSTEE 

SECTION 6.01 General Authority. The Owner Trustee is authorized and directed to execute and deliver the Basic Documents to which
the Trust is to be a party and each certificate or other document attached as an exhibit to or contemplated by the Basic Documents to which the Trust is to be a party, or any amendment thereto or other agreement, in each case, in such form as the
Depositor shall approve as evidenced conclusively by the delivery of such certificates and documents to the Owner Trustee for the Owner Trustee’s execution thereof. In addition to the foregoing, the Owner Trustee is authorized, but shall not be
obligated, to take all actions required of the Trust pursuant to the Basic Documents. The Owner Trustee is further authorized from time to time to take such action as the Administrator directs in writing with respect to the Basic Documents and
shall, upon the written direction of the Administrator, execute and deliver any amendments to this Agreement or any Basic Documents presented by the Administrator for execution and delivery by the Owner Trustee. 

SECTION 6.02 General Duties. It shall be the duty of the Owner Trustee to discharge (or cause to be discharged) all of its
responsibilities pursuant to the terms of this Agreement and the Basic Documents and to administer the Trust in the interest of the Owner, subject to the Basic Documents and in accordance with the provisions of this Agreement. Notwithstanding the
foregoing, the Owner Trustee shall be deemed to have discharged its duties and responsibilities hereunder and under the Basic Documents to the extent the Administrator has agreed in the Administration Agreement to perform any act or to discharge any
duty of the Owner Trustee hereunder or under any Basic Document, and the Owner Trustee shall not be liable for the default or failure of the Administrator to carry out its obligations under the Administration Agreement. 

SECTION 6.03 Action upon Instruction. 

(a) Subject to Article IV, the Owner may, by written instruction, direct the Owner Trustee in the management of the Trust. Such direction
may be exercised at any time by written instruction of the Owner pursuant to Article IV. 
 (b) The Owner Trustee shall not be required
to take any action hereunder or under any Basic Document if the Owner Trustee shall have reasonably determined, or shall have been advised by counsel, that such action is likely to result in liability on the part of the Owner Trustee or is contrary
to the terms hereof or of any Basic Document or is otherwise contrary to law. 
 (c) Whenever the Owner Trustee is unable to decide between
alternative courses of action permitted or required by the terms of this Agreement or any Basic Document, the Owner Trustee shall promptly give notice (in such form as shall be appropriate under the circumstances) to the Owner requesting instruction
as to the course of action to be adopted, and to the extent the 

  
 14 

 
Owner Trustee acts in good faith in accordance with any written instruction of the Owner received, the Owner Trustee shall not be liable on account of such action to any Person. If the Owner
Trustee shall not have received appropriate instruction within ten days of such notice (or within such shorter period of time as reasonably may be specified in such notice or may be necessary under the circumstances) it may, but shall be under no
duty to, take or refrain from taking such action, not inconsistent with this Agreement or the Basic Documents, as it shall deem to be in the best interest of the Owner, and shall have no liability to any Person for such action or inaction. 

(d) In the event that the Owner Trustee is unsure as to the application of any provision of this Agreement or any Basic Document or any such
provision is ambiguous as to its application, or is, or appears to be, in conflict with any other applicable provision, or in the event that this Agreement permits any determination by the Owner Trustee or is silent or is incomplete as to the course
of action that the Owner Trustee is required to take with respect to a particular set of facts, the Owner Trustee may give notice (in such form as shall be appropriate under the circumstances) to the Owner requesting written instruction and, to the
extent that the Owner Trustee acts or refrains from acting in good faith in accordance with any such written instruction received, the Owner Trustee shall not be liable, on account of such action or inaction, to any Person. If the Owner Trustee
shall not have received appropriate written instruction within 10 days of such notice (or within such shorter period of time as reasonably may be specified in such notice or may be necessary under the circumstances) it may, but shall be under no
duty to, take or refrain from taking such action, not inconsistent with this Agreement or the Basic Documents, as it shall deem to be in the best interests of the Owner, and shall have no liability to any Person for such action or inaction. 

SECTION 6.04 No Duties Except as Specified in This Agreement or in Instructions. The Owner Trustee shall not have any duty or
obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated
hereby to which the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.03; and no implied duties or obligations
shall be read into this Agreement or any Basic Document against the Owner Trustee. 
 The Owner Trustee shall have no responsibility for the
preparation, correctness, accuracy, existence, validity or perfection of any financing statement (or similar filing) or for filing any financing or continuation statement (or similar filing) in any public office at any time or to otherwise perfect
or maintain the perfection of any security interest or lien granted to it hereunder or to prepare or file any Securities and Exchange Commission filing for the Trust or to record this Agreement or any Basic Document. The Owner Trustee nevertheless
agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any liens on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee that are not related to the
ownership or the administration of the Owner Trust Estate. 

  
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 SECTION 6.05 No Action Except Under Specified Documents or Instructions. The
Owner Trustee shall not manage, control, use, sell, dispose of, or otherwise deal with, any part of the Owner Trust Estate except (a) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this
Agreement, (b) in accordance with the Basic Documents and (c) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 6.03. 

SECTION 6.06 Restrictions. The Owner Trustee shall not take any action (a) that is inconsistent with the purposes of the
Trust set forth in Section 2.03 or (b) that, to the actual knowledge of a Responsible Officer of the Owner Trustee, would result in the Trust’s becoming taxable as a corporation for federal income tax purposes or (c) that
is not in accordance with applicable law. The Owner shall not direct the Owner Trustee to take action that would violate the provisions of this Section. In no event shall the Trust elect to be treated as an association taxable as a corporation. No
transfer of a Certificate shall be made to any Person unless the Depositor and the Certificate Registrar has received (A) a certificate from such Person to the effect that such Person is a United States Person within the meaning of
Section 7701(a)(30) of the Code and (B) the Depositor, the Certificate Registrar, and the Indenture Trustee shall have received an opinion of counsel (which counsel is independent from the Depositor and the Trust) that such action shall
not cause the Trust to be treated as an association (or publicly traded partnership) taxable as a corporation for federal income tax purposes and such transferee or assignee shall agree to take positions for tax purposes consistent with the tax.

 ARTICLE VII 

CONCERNING THE OWNER TRUSTEE 

SECTION 7.01 Acceptance of Trusts and Duties. The Owner Trustee accepts the trusts hereby created and agrees to perform its duties
hereunder with respect to such trusts but only upon the terms of this Agreement. The Owner Trustee also agrees to disburse all moneys actually received by it constituting part of the Owner Trust Estate upon the terms of the Basic Documents and this
Agreement. The Owner Trustee shall not be answerable or accountable hereunder or under any Basic Document under any circumstances, except for (i) its own willful misconduct or negligence or (ii) the inaccuracy of any representation or
warranty contained in Section 7.03 expressly made by the Owner Trustee. In particular, but not by way of limitation (and subject to the exceptions set forth in the preceding sentence): 

(a) the Owner Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer of the Owner Trustee; 

(b) the Owner Trustee shall not be liable with respect to any action taken or omitted to be taken by it in accordance with the direction or
instructions of the Administrator, the Depositor, the Indenture Trustee or the Owner; 
 (c) no provision of this Agreement or any Basic
Document shall require the Owner Trustee to expend or risk funds or otherwise incur any financial liability in the performance of any of its rights or powers hereunder or under any Basic Document if the Owner Trustee shall have determined that
repayment of such funds or indemnity reasonably satisfactory to the Owner Trustee against such risk or liability is not reasonably assured or provided to it; 

  
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 (d) under no circumstances shall the Owner Trustee be liable for indebtedness evidenced by
or arising under any of the Basic Documents, including the principal of and interest on the Notes; 
 (e) the Owner Trustee shall not be
responsible or personally liable for or in respect of the validity or sufficiency of this Agreement or for the due execution hereof by the Depositor or for the form, character, genuineness, sufficiency, accuracy, value or validity of any of the
Owner Trust Estate or for or in respect of the validity or sufficiency of the Owner Trust Estate, the Basic Documents, the Certificate, other than the certificate of authentication on the Certificate, or any other related document supplied to the
Owner Trustee and the Owner Trustee shall in no event assume or incur any liability, duty, or obligation to any Noteholder, the Owner, the Depositor or any other Person other than as expressly provided for herein and in the Basic Documents; 

(f) the Owner Trustee shall not be responsible or personally liable for or in respect of the enforceability of the Certificate; 

(g) the Owner Trustee shall not be responsible or personally liable for recording this Agreement or any Basic Document, for preparing or filing
any financing or continuation statement in any public office at any time or otherwise perfecting or maintaining the perfection of any ownership or security interest or lien or for preparing or filing any tax, qualification to do business or
securities law filing or report; 
 (h) the Owner Trustee shall not be liable for, and shall have no duty to supervise or monitor, the action
or inaction, default, misconduct or negligence of the Administrator, the Depositor, the Indenture Trustee or the Servicer or any agent appointed by any of them under any of the Basic Documents or otherwise and the Owner Trustee may assume
performance by each of such parties absent written notice or actual knowledge of a Responsible Officer to the contrary, and the Owner Trustee shall have no obligation or liability to perform the obligations of the Trust under this Agreement or the
Basic Documents that are required to be performed by the Administrator under the Administration Agreement, the Indenture Trustee under the Indenture or the Servicer under the Sale and Servicing Agreement; 

(i) the Owner Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Agreement, or to institute,
conduct or defend any disclosure litigation under this Agreement or otherwise or in relation to this Agreement or any Basic Document, at the request, order or direction of the Owner, unless the Owner has offered to the Owner Trustee security or
indemnity satisfactory to it against the costs, expenses and liabilities that may be incurred by the Owner Trustee therein or thereby. The right of the Owner Trustee to perform any discretionary act enumerated in this Agreement or in any Basic
Document shall not be construed as a duty, and the Owner Trustee shall not be answerable for such act other than its negligence or willful misconduct in the performance of any such act; 

(j) notwithstanding any Person’s right to instruct the Owner Trustee, except as required by law or regulation, neither the Owner Trustee
nor any agent, employee, director or officer of the Owner Trustee shall have any obligation to execute any certificates or other documents required pursuant to the Sarbanes-Oxley Act of 2002 or the rules and
regulations promulgated thereunder, and the refusal to comply with any such instructions shall not constitute a default or breach under any Basic Document; 

  
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 (k) in no event shall the Owner Trustee be liable for any damages in the nature of special,
punitive, indirect or consequential losses or damages, however styled, including, without limitation, lost profits, or for any losses due to forces beyond the control of the Owner Trustee, including, without limitation, strikes, work stoppages, acts
of war or terrorism, insurrection, revolution, nuclear or natural catastrophes or acts of God and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services provided by unaffiliated third parties to
the Owner Trustee; 
 (l) the Owner Trustee shall not be deemed to have knowledge or notice of any event or information, including any
Default or Event of Default, or be required to act upon any event or information (including the sending of any notice), unless written notice of such event or information is received by a Responsible Officer and such notice references the event or
information. Absent written notice in accordance with this Section, the Owner Trustee may conclusively assume that no such event has occurred. The Owner Trustee shall have no obligation to inquire into, or investigate as to, the occurrence of any
such event (including any Default or Event of Default). For purposes of determining the Owner Trustee’s responsibility and liability hereunder, whenever reference is made in this Trust Agreement to any event (including, but not limited to, a
Default or Event of Default), such reference shall be construed to refer only to such event of which the Owner Trustee has received written notice as described in this Section. Knowledge of the Owner Trustee shall not be attributed or imputed to the
Owner Trustee’s other roles in the transaction; 
 (m) the Owner Trustee shall not be required to investigate any claims of an alleged
breach by any Person of a representation or warranty under any of the Basic Documents; 
 (n) in connection with the duty of the Owner
Trustee to enforce the obligations of JDCC under the Purchase Agreement pursuant to Section 3.02 of the Sale and Servicing Agreement, the Owner Trustee shall have no obligation to take any action or omit to take any action unless it is directed
to do so by the Depositor and the Depositor shall have offered to the Owner Trustee security or indemnity satisfactory to it against the reasonable costs, expenses, disbursements and advances that might be incurred by it, its agents and its counsel
in compliance with such direction; and 
 (o) In no event shall the Owner Trustee have any responsibility to monitor compliance with or
enforce compliance with the credit risk retention requirements for asset-backed securities or other rules or regulations relating to risk retention. The Owner Trustee shall not be charged with knowledge of such rules, nor shall it be liable to any
Noteholder, Certificateholder, the Depositor, the Servicer or any other Person for violation of such rules now or hereafter in effect. The Owner Trustee shall not be required to monitor, initiate or conduct any proceedings to enforce the obligations
of the Trust, the Depositor, the Servicer or any other Person with respect to any breach of representation or warranty under any transaction document and the Owner Trustee shall not have any duty to conduct any investigation as to the occurrence of
any condition requiring the repurchase or substitution of any Receivable by any Person pursuant to any transaction document. 

  
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 SECTION 7.02 Furnishing of Documents. 

(a) The Owner Trustee shall furnish to the Owner, promptly upon receipt of a written reasonable request therefor, duplicates or copies of all
reports, notices, requests, demands, certificates, financial statements and any other instruments furnished to the Owner Trustee and in its possession under the Basic Documents. 

(b) The Owner Trustee shall provide prompt notice to the John Deere Parties of all demands communicated to the Owner Trustee for the repurchase
or replacement of any Receivable for breach of the representations and warranties concerning such Receivable. The Owner Trustee shall, upon written request of either John Deere Party, provide notification to the John Deere Parties with respect to
any actions taken by the Owner Trustee or determinations made by the Owner Trustee, in each case with respect to any such demand communicated to the Owner Trustee in respect of any Receivables, such notifications to be provided by the Owner Trustee
as soon as practicable and in any event within five Business Days of such request or such other time frame as may be mutually agreed to by the Owner Trustee and the applicable John Deere Party. Such notices shall be provided to the John Deere
Parties at (i) John Deere Capital Corporation, 10587 Double R Blvd, Suite 100, Reno, Nevada 89521, Attention: Manager (775-786-5527), and in each case, with a copy
to Assistant Treasurer, Deere & Company, One John Deere Place, Moline, Illinois 61265-8098 (309-748-5252), or at such
other address or by such other means of communication as may be specified by John Deere Capital Corporation to the Owner Trustee from time to time, and (ii) John Deere Receivables, Inc., 10587 Double R Blvd, Suite 100, Reno, Nevada 89521,
Attention: Manager (775-786-5527), and in each case, with a copy to Assistant Treasurer, Deere & Company, One John Deere Place, Moline, Illinois 61265-8098 (309-748-5252), or at such other address or by such other means of communication as may be specified by John Deere
Receivables, Inc. to the Owner Trustee from time to time. 
 The Owner Trustee acknowledges and agrees that the purpose of this
Section 7.02(b) is to facilitate compliance by the John Deere Parties with the Repurchase Rules and Regulations. The Owner Trustee acknowledges that interpretations of the requirements of the Repurchase Rules and Regulations may change over
time, whether due to interpretive guidance provided by the Commission or its staff, consensus among participants in the asset-backed securities markets, advice of counsel, or otherwise, and agrees to comply
with reasonable requests made by the John Deere Parties in good faith for delivery of information under these provisions on the basis of evolving interpretations of the Repurchase Rules and Regulations. The Owner Trustee shall cooperate fully with
the John Deere Parties to deliver any and all records and any other information necessary in the good faith determination of the John Deere Parties to permit them to comply with the provisions of the Repurchase Rules and Regulations. 

SECTION 7.03 Representations and Warranties. The Owner Trustee hereby represents and warrants to the Depositor, for the benefit of
the Owner, that: 
 (a) it is a [__] duly organized and validly existing in good standing under the laws of the United States of America and
it has all requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement; 

  
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 (b) it has taken all corporate action necessary to authorize the execution and delivery by
it of this Agreement, and this Agreement will be executed and delivered by one of its officers who is duly authorized to execute and deliver this Agreement on its behalf; and 

(c) neither the execution nor the delivery by it of this Agreement, nor the consummation by it of the transactions contemplated hereby, nor
compliance by it with any of the terms or provisions hereof, will contravene any federal or Delaware law, governmental rule or regulation governing the [__] or trust powers of the Owner Trustee, or constitute any default under its charter documents
or by-laws. 
 SECTION 7.04 Reliance; Advice of Counsel. 

(a) The Owner Trustee shall incur no liability to anyone in acting upon any signature, instrument, direction, notice, resolution, request,
consent, order, certificate, report, opinion, bond, or other document or paper believed by it to be genuine and believed by it to be signed by the proper party or parties. The Owner Trustee may accept a certified copy of a resolution of the board of
directors or other governing body of any corporate party as conclusive evidence that such resolution has been duly adopted by such body and that the same is in full force and effect. As to any fact or matter the method of the determination of which
is not specifically prescribed herein, the Owner Trustee may for all purposes hereof request and rely on a certificate, signed by the president or any vice president or by the treasurer or other authorized officers of the relevant party, as to such
fact or matter, and such certificate shall constitute full protection to the Owner Trustee for any action taken or omitted to be taken by it in good faith in reliance thereon. 

(b) In the exercise or administration of the trusts hereunder and in the performance of its duties and obligations under this Agreement or the
Basic Documents, the Owner Trustee (i) may act directly or through its agents or attorneys pursuant to agreements entered into with any of them, and the Owner Trustee shall not be liable for the conduct or misconduct of such agents or attorneys
if such agents or attorneys shall have been selected by the Owner Trustee with reasonable care, and (ii) may consult with counsel, accountants and other skilled persons to be selected with reasonable care and employed by it. The Owner Trustee
shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the written opinion or advice of any such counsel, accountants or other such persons and not contrary to this Agreement or any Basic Document. 

SECTION 7.05 Not Acting in Individual Capacity. Except as provided in this Article VII, in accepting the trusts hereby
created, [__] acts solely as Owner Trustee hereunder and not in its individual capacity and all Persons having any claim against the Owner Trustee by reason of the transactions contemplated by this Agreement or any Basic Document shall look only to
the Owner Trust Estate for payment or satisfaction thereof. 
 SECTION 7.06 Owner Trustee Not Liable for Certificate or
Receivables. The recitals contained herein and in the Certificate (other than the signature of the Owner Trustee on the Certificate and its representations and warranties in Section 7.03) shall be taken as the statements of the Depositor
and the Owner Trustee assumes no responsibility for the correctness thereof. The Owner Trustee makes no representations as to the validity or sufficiency of this Agreement, of any Basic Document or of the Certificate (other than the signature of the
Owner Trustee on 

  
 20 

 
the Certificate) or the Notes, or of any Receivable or related documents. The Owner Trustee shall at no time have any responsibility or liability for or with respect to the legality, validity and
enforceability of any Receivable, or the perfection and priority of any security interest created by any Receivable in any Financed Equipment or the maintenance of any such perfection and priority, or for or with respect to the sufficiency of the
Owner Trust Estate or its ability to generate the payments to be distributed to the Certificateholder under this Agreement or the Noteholders under the Indenture, including, without limitation: the existence, condition and ownership of any Financed
Equipment; the existence and enforceability of any insurance thereon; the existence and contents of any Receivable on any computer or other record thereof; the validity of the assignment of any Receivable to the Trust or of any intervening
assignment; the completeness of any Receivable; the performance or enforcement of any Receivable; the compliance by the Depositor or the Servicer with any warranty or representation made under any Basic Document or in any related document or the
accuracy of any such warranty or representation or any action or inaction of the Administrator, the Indenture Trustee or the Servicer or any sub-servicer taken in the name of the Owner Trustee. 

SECTION 7.07 Owner Trustee May Own Notes. The Owner Trustee in its individual or any other capacity may become the owner or
pledgee of Notes and may deal with the Depositor, the Administrator, the Indenture Trustee and the Servicer in banking transactions with the same rights as it would have if it were not the Owner Trustee. 

ARTICLE VIII 

COMPENSATION OF OWNER TRUSTEE 

SECTION 8.01 Owner Trustee’s Fees and Expenses. The Owner Trustee shall receive as compensation for its
services hereunder such fees as have been separately agreed upon before the date hereof between the Depositor and the Owner Trustee, and the Owner Trustee shall be entitled to be reimbursed by the Depositor for its other reasonable expenses
hereunder, including any and all costs related to amendments, supplements and petitioning any court and the reasonable compensation, expenses and disbursements of such agents, representatives, experts and counsel as the Owner Trustee may employ in
connection with the exercise and performance of its rights and its duties hereunder. 
 SECTION 8.02 Indemnification. The
Depositor shall be liable as primary obligor for, and shall indemnify the Owner Trustee and its successors, assigns, agents (including the Certificate Registrar and the Paying Agent) and servants (collectively, the “Indemnified Parties”)
from and against, any and all liabilities, obligations, losses, costs, damages, taxes, claims, actions and suits, and any and all reasonable costs, expenses and disbursements (including any reasonable legal fees, costs, and expenses incurred in
connection with any enforcement (including any action, claim, or suit brought) by an Indemnified Party of any indemnification or other obligation of the Depositor) of any kind and nature whatsoever (collectively, “Expenses”) which may at
any time be imposed on, incurred by, or asserted against the Owner Trustee or any Indemnified Party in any way relating to or arising out of this Agreement, the Basic Documents, the Owner Trust Estate, the administration of the Owner Trust Estate or
the action or inaction of the Owner Trustee or any other Indemnified Party hereunder, except only that the Depositor shall 

  
 21 

 
not be liable for or required to indemnify the Owner Trustee from and against Expenses arising or resulting from any of the matters described in the third sentence of Section 7.01. The
indemnities contained in this Section shall survive the resignation or removal of the Owner Trustee or the termination or assignment of this Agreement. In any event of any claim, action or proceeding for which indemnity will be sought pursuant to
this Section, the Owner Trustee’s choice of legal counsel shall be subject to the approval of the Depositor, which approval shall not be unreasonably withheld. 

SECTION 8.03 Payments to the Owner Trustee. Any amounts paid to the Owner Trustee pursuant to this Article VIII shall be
deemed not to be a part of the Owner Trust Estate immediately after such payment. 
 ARTICLE IX 

TERMINATION OF TRUST AGREEMENT 

SECTION 9.01 Termination of Trust Agreement. 

(a) The Trust shall dissolve and terminate in accordance with Sections 3808(d) and (e) of the Trust Statute (i) upon the final
distribution by the Owner Trustee of all moneys or other property or proceeds of the Owner Trust Estate in accordance with the terms of the Indenture, the Sale and Servicing Agreement and Article V or (ii) at the time provided in
Section 9.02. Any money or other property held as part of the Owner Trust Estate following such distribution (and following a final distribution of proceeds from a sale under Section 9.02) shall be distributed to the Depositor. 

(b) Except as provided in Section 9.01(a), neither the Depositor nor the Owner shall be entitled to revoke or terminate the Trust. 

(c) Notice of any dissolution of the Trust, specifying the Payment Date upon which the Certificateholder shall surrender its Certificate to the
Paying Agent for payment of the final distribution and cancellation, shall be given by the Owner Trustee by letter to the Certificateholder mailed within five Business Days of receipt of notice of such termination from the Servicer given pursuant to
Section 9.01(c) of the Sale and Servicing Agreement, stating (i) the Payment Date upon or with respect to which final payment of the Certificate shall be made upon presentation and surrender of the Certificate at the office of the Paying
Agent therein designated, (ii) the amount of any such final payment and (iii) that the Record Date otherwise applicable to such Payment Date is not applicable, payments being made only upon presentation and surrender of the Certificate at
the office of the Paying Agent therein specified. The Owner Trustee shall give such notice to the Certificate Registrar (if other than the Owner Trustee) and the Paying Agent at the time such notice is given to the Certificateholder. Upon
presentation and surrender of the Certificate, the Paying Agent shall cause to be distributed to the Certificateholder amounts distributable on such Payment Date pursuant to Section 5.02. 

In the event that the Certificateholder shall not surrender its Certificate for cancellation within six months after the date specified in the
above mentioned written notice, the Owner Trustee shall give a second written notice to the Certificateholder to surrender its Certificate for 

  
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cancellation and receive the final distribution with respect thereto. If within one year after the second notice the Certificate shall not have been surrendered for cancellation, the Owner
Trustee may take appropriate steps, or may appoint an agent to take appropriate steps, to contact the Certificateholder concerning surrender of its Certificate, and the cost thereof shall be paid out of the funds and other assets that shall remain
subject to this Agreement. Any funds remaining in the Trust after exhaustion of such remedies shall be distributed by the Owner Trustee to the Depositor (subject to applicable escheatment laws). 

(d) Upon the winding up of the Trust and satisfaction of all obligations in accordance with Section 3808 of the Trust Statute, the Owner
Trustee shall cause the Certificate of Trust to be canceled by filing a certificate of cancellation with the Secretary of State in accordance with the provisions of Section 3810 of the Trust Statute and the Trust shall terminate and this
Agreement (other than Article VIII) shall be of no further force or effect. 
 SECTION 9.02 Dissolution upon Bankruptcy of the
Depositor. In the event that an Insolvency Event shall occur with respect to the Depositor, the Trust shall be dissolved in accordance with Section 9.01 90 days after the date of such Insolvency Event, unless, before the end of such 90-day period, the Owner Trustee shall have received written instructions from each of the Noteholders, to the effect that each such party disapproves of the liquidation of the Receivables and termination of the
Trust. Promptly after the occurrence of any Insolvency Event with respect to the Depositor, (i) the Depositor shall give the Indenture Trustee and the Owner Trustee written notice of such Insolvency Event, (ii) the Owner Trustee shall,
upon the receipt of such written notice from the Depositor, give prompt written notice to the Certificateholder and the Indenture Trustee of the occurrence of such event and (iii) the Indenture Trustee shall, upon receipt of written notice of
such Insolvency Event from the Owner Trustee or the Depositor, give prompt written notice to the Noteholders of the occurrence of such event; provided, however, that any failure to give a notice required by this sentence shall not prevent or delay,
in any manner, a dissolution of the Trust pursuant to the first sentence of this Section 9.02. Upon a dissolution pursuant to this Section, the Owner Trustee shall direct the Indenture Trustee promptly to sell the assets of the Trust (other
than the Trust Accounts) in a commercially reasonable manner and on commercially reasonable terms. The proceeds of such a sale of the assets of the Trust shall be treated as collections under the Sale and Servicing Agreement. 

ARTICLE X 

SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 

SECTION 10.01 Eligibility Requirements for Owner Trustee. The Owner Trustee shall at all times be a Person satisfying the
provisions of Section 3807(a) of the Trust Statute; authorized to exercise corporate trust powers; and having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by Federal or State authorities. If
such Person shall publish reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this Section, the combined capital and surplus of such Person shall
be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Owner Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee
shall resign immediately in the manner and with the effect specified in Section 10.02. 

  
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 SECTION 10.02 Resignation or Removal of Owner Trustee. The Owner Trustee may at
any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Administrator; provided, however, that such resignation and discharge shall only be effective upon the appointment of a successor Owner Trustee.
The Owner Trustee shall provide to the Seller in writing and in form and substance reasonably satisfactory to the Seller, all information reasonably requested by the Seller in order to comply with its reporting obligation under the Exchange Act with
respect to the resignation of the Owner Trustee. Upon receiving such notice of resignation, the Administrator shall promptly appoint a successor Owner Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to
the resigning Owner Trustee and one copy to the successor Owner Trustee. If no successor Owner Trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Owner
Trustee may petition any court of competent jurisdiction for the appointment of a successor Owner Trustee. 
 If at any time the Owner
Trustee shall cease to be eligible in accordance with the provisions of Section 10.01 and shall fail to resign after written request therefor by the Administrator, or if at any time the Owner Trustee shall be legally unable to act, or shall be
adjudged bankrupt or insolvent, or a receiver of the Owner Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Owner Trustee or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation, then the Administrator may remove the Owner Trustee. If at any time the Owner Trustee shall fail to comply with any of its obligations under Section 10.02 or Section 10.04 of this Agreement or Section 4.16
of the Sale and Servicing Agreement during the period that the Seller is required to file Exchange Act Reports with respect to the Trust and such failure is not remedied within the lesser of ten calendar days and the period of time in which the
related Exchange Act Report is required to be filed (without taking into account any extensions), then the Seller may remove the Owner Trustee. If the Administrator or Seller shall remove the Owner Trustee under the authority of the two immediately
preceding sentences, the Administrator shall promptly appoint a successor Owner Trustee, by written instrument, in triplicate, one copy of which instrument shall be delivered to the outgoing Owner Trustee so removed, one copy to the successor Owner
Trustee, and one copy to the Seller, together with the basis for removal and shall pay all fees owed to the outgoing Owner Trustee. 
 Any
resignation or removal of the Owner Trustee and appointment of a successor Owner Trustee pursuant to any of the provisions of this Section shall not become effective until acceptance of appointment by the successor Owner Trustee pursuant to
Section 10.03 and payment of all fees and expenses owed to the outgoing Owner Trustee. The Administrator shall provide notice of such resignation or removal of the Owner Trustee to each of the Rating Agencies. 

The Depositor shall pay all expenses associated with replacing the Owner Trustee with a successor owner trustee, unless the removal is a
result of the willful misconduct or negligence of the Owner Trustee, in which case, such expenses will be the responsibility of the replaced Owner Trustee. 

  
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 SECTION 10.03 Successor Owner Trustee. Any successor Owner Trustee appointed
pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement and deliver to the Seller in writing and in form and
substance reasonably satisfactory to the Seller, all information reasonably requested by the Seller in order to comply with its reporting obligation under the Exchange Act with respect to the successor Owner Trustee, and thereupon the resignation or
removal of the predecessor Owner Trustee shall become effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties, and obligations of its predecessor under
this Agreement and the Sale and Servicing Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and
statements and monies held by it under this Agreement; and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and
confirming in the successor Owner Trustee all such rights, powers, duties, and obligations. 
 No successor Owner Trustee shall accept
appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. 

Upon acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice of the successor of
such Owner Trustee to all Certificateholders, the Indenture Trustee, the Noteholders and shall make such notice available to the Rating Agencies. If the Administrator shall fail to mail such notice within 10 days after acceptance of appointment by
the successor Owner Trustee, the Depositor shall cause such notice to be mailed at the expense of the Administrator. 
 SECTION 10.04
Merger or Consolidation of Owner Trustee. Any Person into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which the Owner Trustee
shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shall be the successor of the Owner Trustee hereunder, provided that such Person shall be eligible pursuant to
Section 10.01, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided further that the Owner Trustee shall mail notice of such
merger or consolidation to the Administrator, which shall make such notice available to the Rating Agencies, and that the Owner Trustee will provide the Seller in writing and in form and substance reasonably satisfactory to the Seller, all
information reasonably requested by the Seller in order to comply with its reporting obligation under the Exchange Act with respect to the successor Owner Trustee. 

SECTION 10.05 Appointment of Co-Trustee or Separate Trustee. Notwithstanding any
other provisions of this Agreement, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Owner Trust Estate or any Financed Equipment may at the time be located, or for enforcement or conflict
of interest matters, the Administrator and the Owner Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons approved by the Owner Trustee to act as

  
 25 

 
co-trustee, jointly with the Owner Trustee, or separate trustee or separate trustees, of all or any part of the Owner Trust Estate, and to vest in such
Person, in such capacity, such title to the Trust, or any part thereof, and, subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Administrator and the Owner Trustee may consider necessary or
desirable. If the Administrator shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, the Owner Trustee alone shall have the power to make such appointment. No
co-trustee or separate trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee pursuant to Section 10.01 and no notice of the appointment of any co-trustee or separate trustee shall be required pursuant to Section 10.03. A co-trustee or separate trustee appointed hereunder is not an agent of the Owner Trustee.

 Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act
subject to the following provisions and conditions: 
 (a) all rights, powers, duties, and obligations conferred or imposed upon the Owner
Trustee shall be conferred upon and exercised or performed by the Owner Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or
co-trustee is not authorized to act separately without the Owner Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be
performed, the Owner Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties, and obligations (including the holding of title to the Trust or any portion thereof in any such jurisdiction)
shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the written direction of the Owner Trustee; 

(b) no trustee under this Agreement shall be personally liable by reason of the appointment or any act or omission of any other trustee under
this Agreement; and 
 (c) the Administrator and the Owner Trustee acting jointly may at any time accept the resignation of or remove any
separate trustee or co-trustee. 
 Any notice, request or other writing given to the Owner Trustee
shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Agreement and the conditions of this Article. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested
with the estates or property specified in its instrument of appointment, either jointly with the Owner Trustee or separately, as may be provided therein, subject to all the provisions of this Agreement, specifically including every provision of this
Agreement relating to the conduct of, affecting the liability of, or affording protection to, the Owner Trustee. Each such instrument shall be filed with the Owner Trustee and a copy thereof given to the Administrator. 

Any separate trustee or co-trustee may at any time appoint the Owner Trustee, as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name.
If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall vest in and be exercised by the Owner
Trustee, to the extent permitted by law, without the appointment of a new or successor trustee. 

  
 26 

 ARTICLE XI 

MISCELLANEOUS 

SECTION 11.01 Supplements and Amendments. This Agreement may be amended by the Depositor and the Owner Trustee, without the
consent of any of the Noteholders or the Certificateholder, to cure any ambiguity, to correct or supplement any provisions in this Agreement or for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions in this Agreement or of modifying in any manner the rights of the Noteholders or the Certificateholder; provided, however, that such action shall not, as evidenced by an Opinion of Counsel, adversely affect in any material respect the
interests of any Noteholder or the Certificateholder, provided further that 10 days’ (or, in the case of Fitch, 10 Business Days’) prior written notice of any such amendment be made available to each Rating Agency by the Administrator and,
if Moody’s notifies the Owner Trustee that such amendment will result in a downgrading or withdrawal of the then-current rating of any class of the Notes, such amendment shall become effective with the
consent of the Holders of Notes evidencing not less than a majority of the Outstanding Amount of the Notes; provided further that any solicitation of such consent shall disclose the downgrading or withdrawal that would result from such amendment.

 This Agreement may also be amended from time to time by the Depositor and the Owner Trustee, with prior written notice made available to
the Rating Agencies by the Administrator, with the consent of the Holders of Notes evidencing not less than a majority of the Outstanding Amount of the Notes and the consent of the Certificateholder (which consents will not be unreasonably withheld)
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 Certificateholder; provided, however, that no such
amendment shall (a) increase or reduce in any manner the amount of, or accelerate or delay the timing of, collections of payments on Receivables or distributions that shall be required to be made for the benefit of the Noteholders or the
Certificateholder or (b) reduce the aforesaid percentage of the Outstanding Amount of the Notes required to consent to any such amendment or eliminate the consent of the Certificateholder to any such amendment, without the consent of the
holders of all the outstanding Notes and the Certificate. 
 Promptly after the execution of any such amendment or consent, the Owner
Trustee shall furnish written notification of the substance of such amendment or consent to the Certificateholder, the Indenture Trustee and the Administrator, which shall make such notification available to each of the Rating Agencies. 

It shall not be necessary for the consent of the Certificateholder, the Noteholders or the Indenture Trustee pursuant to this Section to
approve the particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof. 

Promptly after the execution of any amendment to the Certificate of Trust, the Owner Trustee shall cause the filing of such amendment with the
Secretary of State. 

  
 27 

 Prior to the execution of any amendment to this Agreement or the Certificate of Trust, the
Owner Trustee shall be entitled to receive and rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and that all conditions precedent to the execution of such amendment have been
satisfied. The Owner Trustee may, but shall not be obligated to, enter into any such amendment which affects the Owner Trustee’s own rights, duties or immunities under this Agreement or otherwise. 

SECTION 11.02 No Legal Title to Owner Trust Estate in the Owner. The Owner shall not have legal title to any part of the Owner
Trust Estate. The Owner shall be entitled to receive distributions with respect to its undivided ownership interest therein only in accordance with Articles V and IX. No transfer, by operation of law or otherwise, of any right, title, and interest
of the Owner to and in its ownership interest in the Owner Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Owner
Trust Estate. 
 SECTION 11.03 Limitations on Rights of Others. Except for Section 2.07, the provisions of this Agreement
are solely for the benefit of the Owner Trustee, the Depositor, the Owner, the Administrator and, to the extent expressly provided herein, the Indenture Trustee and the Noteholders 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 the Owner Trust Estate or under or in respect of this Agreement or any covenants, conditions or provisions contained herein. 

SECTION 11.04 Notices. 

(a) Unless otherwise expressly specified or permitted by the terms hereof, all notices shall be in writing and shall be deemed given upon
receipt by the intended recipient or three Business Days after mailing if mailed by certified mail, postage prepaid (except that notice to the Owner Trustee shall be deemed given only upon actual receipt by the Owner Trustee), if to the Owner
Trustee, addressed to the address set forth in clause (i) of the definition of Corporate Trust Office; if to the Certificate Registrar or Paying Agent, addressed to the address set forth in clause (ii) of the definition of Corporate Trust
Office, such notice deemed given only upon receipt; if to the Depositor, addressed to John Deere Receivables, Inc., 10587 Double R Blvd, Suite 100, Reno, Nevada 89521, Attention of Manager, and in each case, with a copy to Deere & Company,
One John Deere Place, Moline, Illinois 61265, Attention: Treasury Department, Assistant Treasurer, or, as to each party, at such other address as shall be designated by such party in a written notice to each other party. 

(b) Any notice required or permitted to be given to the Certificateholder shall be given by first class mail, postage prepaid, at the address
of the Certificateholder as shown in the Certificate Register. Any notice so mailed within the time prescribed in this Agreement shall be conclusively presumed to have been duly given, whether or not the Certificateholder receives such notice. 

SECTION 11.05 Severability. Any provision of this Agreement or the Certificate that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or thereof, and any such prohibition or unenforceability in any jurisdiction shall
not invalidate or render unenforceable such provision in any other jurisdiction. 

  
 28 

 SECTION 11.06 Separate Counterparts. This Agreement may be executed by the
parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute but one and the same instrument. 

SECTION 11.07 Successors and Assigns. All covenants and agreements contained herein shall be binding upon, and inure to the
benefit of, the Depositor, the Owner Trustee and its successors and the Owner and its successors and permitted assigns, all as herein provided. Any request, notice, direction, consent, waiver or other instrument or action by the Owner shall bind the
successors and assigns of the Owner. 
 SECTION 11.08 Covenant of the Depositor. In the event that any litigation with claims in
excess of $1,000,000 to which the Depositor is a party which shall be reasonably likely to result in a material judgment against the Depositor that the Depositor will not be able to satisfy shall be commenced by the Owner (when the Owner is not the
Depositor), during the period beginning nine months following the commencement of such litigation and continuing until such litigation is dismissed or otherwise terminated (and, if such litigation has resulted in a final judgment against the
Depositor, such judgment has been satisfied) the Depositor shall not pay any dividend to JDCC, or make any distribution on or in respect of its capital stock to JDCC, or repay the principal amount of any indebtedness of the Depositor held by JDCC,
unless (i) after giving effect to such payment, distribution or repayment, the Depositor’s liquid assets shall not be less than the amount of actual damages claimed in such litigation or (ii) the Rating Agency Condition shall have
been satisfied with respect to any such payment, distribution or repayment. The Depositor further agrees that prior to the termination of the Trust, it shall not revoke, modify or otherwise amend any agreements with JDCC in effect on the Closing
Date in any manner that would adversely affect the rights of the Depositor to receive from JDCC contributions of capital or payments on demand pursuant to such agreements. The Depositor further covenants and agrees that it will not enter into any
transaction or take any action (other than any transaction or action contemplated by this Agreement or any of the Basic Documents) if, as a result of such transaction or action, any rating of either the Notes or the Certificate by any of the Rating
Agencies would be downgraded or withdrawn. 
 SECTION 11.09 No Petition. The Owner Trustee on behalf of the Trust, the
Certificateholder, by accepting a Certificate, and the Indenture Trustee and each Noteholder by accepting the benefits of this Agreement, hereby covenant and agree that they will not at any time institute against the Depositor, or join in any
institution against the Depositor of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any U.S. federal or State bankruptcy or similar law in connection with any obligations relating to
the Certificate, the Notes, this Agreement or any of the Basic Documents. 
 SECTION 11.10 No Recourse. The Certificateholder,
by accepting a Certificate, acknowledges that such Certificateholder’s Certificate represents beneficial interests in the Trust only and does not represent interests in or obligations of the Seller, the Servicer, the Administrator, the Owner
Trustee, the Indenture Trustee or any Affiliate thereof and no recourse may be had against such parties or their assets, except as may be expressly set forth or contemplated in this Agreement, the Certificate or the Basic Documents. 

  
 29 

 SECTION 11.11 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 11.12
GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE. 

SECTION 11.13 WAIVER OF JURY TRIAL. EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

SECTION 11.14 Depositor Payment Obligation. The Depositor shall be responsible for payment of the Administrator’s fees under
the Administration Agreement and shall reimburse the Administrator for all expenses and liabilities of the Administrator incurred thereunder. 

SECTION 11.15 Administrator. The Administrator is authorized to execute on behalf of the Trust all such documents, reports,
filings, instruments, certificates and opinions as it shall be the duty of the Trust to prepare, file or deliver pursuant to the Basic Documents. Upon request, the Owner Trustee shall execute and deliver to the Administrator a power of attorney
appointing the Administrator the agent and attorney in fact of the Trust to execute all such documents, reports, filings, instruments, certificates and opinions. 

SECTION 11.16 Communication with Rating Agencies. If the Owner Trustee shall receive any written or oral communication from any
Rating Agency (or any of their respective officers, directors or employees) with respect to the transactions contemplated hereby or under the Basic Documents or in any way relating to the Notes, the Owner Trustee agrees to refrain from communicating
with such Rating Agency and to promptly (and, in any event, within one Business Day) notify the Administrator of such communication. The Owner Trustee agrees to coordinate with the Administrator with respect to any communication to a Rating Agency
and further agrees that in no event shall the Owner Trustee engage in any oral communication with respect to the transactions contemplated hereby or under the Basic Documents or in any way relating to the Notes with any Rating Agency (or any of
their respective officers, directors or employees) without the participation of the Administrator. 
 The Owner Trustee will not be
responsible for delays attributable to the Administrator’s failure to deliver any information related to any communication with a Rating Agency (with respect to this section, the “Information”), defects in the Information supplied to
the Rating Agency or Administrator or other circumstances beyond the control of the Owner Trustee. The Owner Trustee shall be under no obligation to make any determination as to the veracity or applicability of any Information provided to it, or
whether any such Information is required to be maintained on a website or other public medium. 

  
 30 

 SECTION 11.17 USA PATRIOT Act Compliance. The parties hereto and each
Certificateholder acknowledge that in accordance with the Customer Identification Program (CIP) requirements under The Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001
(“USA PATRIOT Act”) and its implementing regulations, the Owner Trustee and the Paying Agent, in order to help fight the funding of terrorism and money laundering, are required to obtain, verify, and record
information that identifies each person or legal entity that establishes a relationship or opens an account with the Owner Trustee or the Paying Agent. Each party hereto and each Certificateholder by its acceptance of a Certificate agrees that it
shall provide the Owner Trustee and the Paying Agent with such information as the Owner Trustee or the Paying Agent may request that will help the Owner Trustee and the Paying Agent to identify and verify each party’s identity, including
without limitation each party’s name, physical address, tax identification number, organizational documents, certificates of good standing, licenses to do business or other pertinent identifying information. 

  
 31 

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

			
	[__],
	as Owner Trustee,
	By:	 	  

		 	Name:
		 	Title:
	
	JOHN DEERE RECEIVABLES, INC, as Depositor,
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Acknowledged, Accepted and Agreed:
	
	 [__],
 not in its individual
capacity but solely as Certificate Registrar and Paying Agent,

		
	By:	 	  

		 	Name:
		 	Title:

 EXHIBIT A 

NUMBER 
 R-1 

SEE REVERSE FOR CERTAIN DEFINITIONS 

JOHN DEERE OWNER TRUST 20[__] 

ASSET BACKED CERTIFICATE 
 evidencing an
undivided beneficial interest in the Trust, as defined below, the property of which includes a pool of equipment retail installment sale and loan contracts secured by new and used agricultural and construction equipment and sold to the Trust (as
defined below) by John Deere Receivables, Inc.. 
 (This Certificate does not represent an interest in or obligation of John Deere Receivables, Inc., John
Deere Capital Corporation, Deere & Company or any of their respective affiliates, except to the extent described below.) 
 THIS CERTIFIES THAT
John Deere Receivables, Inc. is the registered owner of the undivided beneficial interest in John Deere Owner Trust 20[__] (the “Trust”) formed by John Deere Receivables, Inc., a Nevada corporation (the “Seller”). 

THIS CERTIFICATE IS NOT TRANSFERABLE. 

CERTIFICATE OF AUTHENTICATION 
 This is the
Certificate referred to in the within-mentioned Trust Agreement. 
  

			
	 [__],
 as Owner
Trustee

		
	By:	 	  

 or 
  

			
	 [__],
 as Certificate Registrar and
Paying Agent

		
	By:	 	  

  
 A-1 

 The Trust was created pursuant to a Trust Agreement dated as of [__], 20[__] (the “Trust
Agreement”), between the Depositor and [__], as owner trustee (the “Owner Trustee”), a summary of certain of the pertinent provisions of which is set forth below. To the extent not otherwise defined herein, the capitalized terms used
herein have the meanings assigned to them in the Trust Agreement or the Sale and Servicing Agreement to be dated as of [__], 20[__] (the “Sale and Servicing Agreement”), among the Trust, the Seller and John Deere Capital Corporation, as
servicer (the “Servicer”), as applicable. 
 This Certificate is the duly authorized Certificate designated as the “Asset Backed
Certificate” (herein called the “Certificate”). Also issued under the Indenture, to be dated as of [__], 20[__], between the Trust and [__], as Indenture Trustee, are the Class A-1 [__]%
Asset Backed Notes, the Class A-2[A] [__]% Asset Backed Notes, [the Class A-2B [LIBOR] plus [__]% Floating Rate Asset Backed Notes,] the Class A-3 [__]% Asset Backed Notes [and/,] the Class A-4 [__]% Asset Backed Notes [and the Class B [__]% Asset Backed Notes] (collectively, the
“Notes”). This Certificate is issued under and is subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the holder of this Certificate by virtue of the acceptance hereof assents and by which such
holder is bound. The property of the Trust includes a pool of retail installment sale and loan contracts for agricultural and construction equipment (the “Receivables”), all monies received on or after [__], 20[__] from payments on the
Receivables, security interests in the equipment financed thereby, certain bank accounts and the proceeds thereof, proceeds from claims on certain insurance policies and certain other rights under the Trust Agreement and the Sale and Servicing
Agreement, all right, title, and interest of the Seller in and to the Purchase Agreement, to be dated as of [__], 20[__], between John Deere Capital Corporation and the Seller and all proceeds of the foregoing. The rights of the holders of the
Certificate are subordinated to the rights of the holders of the Notes, as set forth in the Sale and Servicing Agreement. 
 Under the Trust Agreement,
there will be distributed on the 15th day of each month or, if such day is not a Business Day, the next Business Day (the “Payment Date”), commencing on [__], 20[__], to the person in whose name this Certificate is registered at the close
of business on the last day of the month (the “Record Date”) immediately preceding the month in which such Payment Date occurs the Certificateholder’s undivided interest in the amount to be distributed to the Certificateholder on such
Payment Date. 
 The holder of this Certificate acknowledges and agrees that its rights to receive distributions in respect of this Certificate are
subordinated to the rights of the Noteholders as described in the Sale and Servicing Agreement and the Indenture. 
 It is the intention of the parties that
the Trust will be disregarded as an entity separate from the Certificateholder for U.S. federal income tax purposes. 
 The Certificateholder, by its
acceptance of a Certificate, covenants and agrees that the Certificateholder will not at any time institute against the Seller, or join in any institution against the Seller of, any bankruptcy, reorganization, arrangement, insolvency or liquidation
proceedings, or other proceedings under any U.S. federal or State bankruptcy or similar law in connection with any obligations relating to the Certificate, the Notes, the Trust Agreement or any of the Basic Documents. 

  
 A-2 

 Distributions on this Certificate will be made as provided in the Trust Agreement by the Owner Trustee by
wire transfer or check mailed to the Certificateholder of record in the Certificate Register without the presentation or surrender of this Certificate or the making of any notation hereon. Except as otherwise provided in the Trust Agreement and
notwithstanding the above, the final distribution on this Certificate will be made after due notice by the Owner Trustee of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency
maintained for the purpose by the Owner Trustee. 
 Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof,
which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon shall
have been executed by an authorized officer of the Owner Trustee, by manual signature, this Certificate shall not entitle the holder hereof to any benefit under the Trust Agreement or the Sale and Servicing Agreement or be valid for any purpose.

 THIS CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE. 

IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Trust and not in its individual capacity, has caused this Certificate to be duly
executed. 
  

					
		  	JOHN DEERE OWNER TRUST 20[__]
		
		  	By: [__],
		  	not in its individual capacity but solely
		  	as Owner Trustee
			
	Dated: [__], [__]	  	By:	  	  

  
 A-3 

 (Reverse of Certificate) 

The Certificate does not represent an obligation of, or an interest in, the Seller, the Servicer, Deere & Company, the Indenture Trustee, the Owner
Trustee or any affiliates of any of them and no recourse may be had against such parties or their assets, except as may be expressly set forth or contemplated herein or in the Trust Agreement or the Basic Documents. In addition, this Certificate is
not guaranteed by any governmental agency or instrumentality and is limited in right of payment to certain collections with respect to the Receivables (and certain other amounts), all as more specifically set forth herein and in the Sale and
Servicing Agreement. The Certificate is limited in right of payment to certain collections and recoveries respecting the Receivables, all as more specifically set forth in the Sale and Servicing Agreement. A copy of each of the Sale and Servicing
Agreement and the Trust Agreement may be examined during normal business hours at the principal office of the Seller, and at such other places, if any, designated by the Seller, by the Certificateholder upon written request. 

The Trust Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Seller
and the rights of the Certificateholder under the Trust Agreement at any time by the Seller and the Owner Trustee with the consent of the holders of the Notes voting as a class evidencing not less than a majority of the outstanding Notes and the
consent of the Certificateholder (which consents shall not be unreasonably withheld). Any such consent by the holder of this Certificate shall be conclusive and binding on the holder of this Certificate and of any Certificate issued upon the
transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent is made upon this Certificate. The Trust Agreement also permits the amendment thereof, in certain limited circumstances, without the consent of the
holder of the Certificate. 
 As provided in the Trust Agreement, this Certificate is nontransferable. The initial Certificate Registrar appointed under the
Trust Agreement is [__]. 
 The Certificate is issuable only as a registered Certificate without coupons. As provided in the Trust Agreement and subject to
certain limitations therein set forth, the Certificate is exchangeable for new Certificates evidencing the same undivided beneficial interest in the Trust, as requested by the holder surrendering the same. No service charge will be made for any such
exchange, but the Owner Trustee or the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge payable in connection therewith. 

The Owner Trustee, the Certificate Registrar and any agent of the Owner Trustee or the Certificate Registrar may treat the person in whose name this
Certificate is registered as the owner hereof for all purposes, and none of the Owner Trustee, the Certificate Registrar or any such agent shall be affected by any notice to the contrary. 

The obligations and responsibilities created by the Trust Agreement and the Trust created thereby shall terminate upon the payment to the Certificateholder of
all amounts required to be paid to it pursuant to the Trust Agreement and the Sale and Servicing Agreement and the disposition of all property held as part of the Trust. The Servicer of the Receivables may at its option purchase the corpus of the
Trust at a price specified in the Sale and Servicing Agreement, and such purchase of the Receivables and other property of the Trust will effect early retirement 

  
 A-4 

 
of the Certificate; however, such right of purchase is exercisable only as of the last day of any Collection Period as of which the note value is less than or equal to 10% of the initial note
value of the Receivables. 

  
 A-5 

 EXHIBIT B 

CERTIFICATE OF TRUST 
 OF 

JOHN DEERE OWNER TRUST 20[__] 
 THIS Certificate
of Trust of John Deere Owner Trust 20[__] (the “Trust”) is being duly executed and filed by the undersigned, as trustee, to form a statutory trust under the Delaware Statutory Trust Act (12 Del. Code, Section 3801 et seq.) (the
“Act”). 
 1. Name. The name of the statutory trust formed hereby is John Deere Owner Trust 20[__]. 

2. Delaware Trustee. The name and address of the trustee of the Trust with a principal place of business in the State of Delaware are [__],
[__]. 
 3. This Certificate of Trust shall be effective upon filing. 

IN WITNESS WHEREOF, the undersigned has executed this Certificate of Trust in accordance with Section 3811(a)(1) of the Act. 

 

			
	[__],
	not in its individual capacity but solely as trustee of the Trust.
		
	By:	 	  

		 	Name:
		 	Title:

  
 B-1

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