Document:

Exhibit 4.4

  

  Execution Version

    

  

  

  

  

  

  

  

  RECEIVABLES PURCHASE AGREEMENT

  

  

  between

  

  

  TOYOTA MOTOR CREDIT CORPORATION,

      as Seller

  and

  TOYOTA AUTO FINANCE RECEIVABLES LLC,

      as Purchaser

  

  

  Dated as of May 8, 2019

   

    

   

    

   

    

   

    

  
    
      

  

  
  
    TABLE OF CONTENTS

    Page

     

      

  

  	
           

          ARTICLE I

           

        	
           

          DEFINITIONS

           

        	
          1

        
	
          SECTION 1.01.

        	
          Definitions

        	
          1

        
	
          SECTION 1.02.

        	
          Other Definitional Provisions

        	
          4

        
	
           

          ARTICLE II

           

        	
           

          CONVEYANCE OF RECEIVABLES

           

        	
          4

        
	
          SECTION 2.01.

        	
          Conveyance of Receivables

        	
          4

        
	
          SECTION 2.02.

        	
          Representations and Warranties of the Seller and the Purchaser

        	
          5

        
	
          SECTION 2.03.

        	
          Representations and Warranties of the Seller as to the Receivables

        	
          9

        
	
          SECTION 2.04.

        	
          Repurchase of Receivables

        	
          11

        
	
          SECTION 2.05.

        	
          Covenants of the Seller

        	
          12

        
	
           

          ARTICLE III

           

        	
           

          PAYMENT OF RECEIVABLES PURCHASE PRICE

           

        	
          13

        
	
          SECTION 3.01.

        	
          Payment of Receivables Purchase Price

        	
          13

        
	
           

          ARTICLE IV

           

        	
           

          TERMINATION

           

        	
          13

        
	
          SECTION 4.01.

        	
          Termination

        	
          13

        
	
           

          ARTICLE V

           

        	
           

          MISCELLANEOUS PROVISIONS

           

        	
          13

        
	
          SECTION 5.01.

        	
          Amendment

        	
          13

        
	
          SECTION 5.02.

        	
          Protection of Right, Title and Interest to Receivables

        	
          14

        
	
          SECTION 5.03.

        	
          Governing Law

        	
          15

        
	
          SECTION 5.04.

        	
          Notices

        	
          15

        
	
          SECTION 5.05.

        	
          Severability of Provisions

        	
          15

        
	
          SECTION 5.06.

        	
          Assignment

        	
          16

        
	
          SECTION 5.07.

        	
          Further Assurances

        	
          16

        
	
          SECTION 5.08.

        	
          No Waiver; Cumulative Remedies

        	
          16

        
	
          SECTION 5.09.

        	
          Counterparts

        	
          16

        
	
          SECTION 5.10.

        	
          Third-Party Beneficiaries

        	
          16

        
	
          SECTION 5.11.

        	
          Merger and Integration

        	
          16

        
	
          SECTION 5.12.

        	
          Headings

        	
          16

        
	
          SECTION 5.13.

        	
          Indemnification

        	
          17

        
	
          SECTION 5.14.

        	
          Merger or Consolidation of, or Assumption of the Obligations of, the Seller

        	
          17

        
	 	 	 
	 	 	 
	
          EXHIBIT A

        	
          Form of Transfer Notice

        	
          A–1

        
	
          SCHEDULE I

        	
          Perfection Representations, Warranties and Covenants

        	
          Sch. I–1

        

  

  

  
    ii

    
      

  

  
  

    RECEIVABLES PURCHASE AGREEMENT, dated as of May 8, 2019, between TOYOTA MOTOR CREDIT CORPORATION, a California corporation, as
      seller (the “Seller”), and TOYOTA AUTO FINANCE RECEIVABLES LLC, a Delaware limited liability company, as purchaser (the “Purchaser”).

    WHEREAS, the Seller and the Purchaser wish to set forth the terms pursuant to which the Receivables (as hereinafter
        defined) and certain other property are to be sold by the Seller to the Purchaser, which Receivables will be transferred by the Purchaser, pursuant to the Sale and Servicing Agreement (as hereinafter defined), to the Toyota Auto Receivables 2019-B
        Owner Trust (the “Issuer”), which will issue notes backed by such Receivables and the other property of the Issuer and one or more certificates representing fractional undivided interests in such Receivables and the other property of the Issuer.

    NOW, THEREFORE, in consideration of the premises and mutual agreements herein contained, each party agrees as follows
        for the benefit of the other party and for the benefit of the Purchaser, Issuer and Indenture Trustee:

    ARTICLE I

        

        DEFINITIONS

    SECTION 1.01.      Definitions.  Whenever used in this Agreement, the following words and phrases shall have the following meanings:

    “Agreement” shall mean this Receivables Purchase Agreement and all amendments hereof and supplements hereto.

    “Amount Financed” in respect of a Receivable means the aggregate amount advanced under such Receivable toward the
        purchase price of the related Financed Vehicle and any related costs, including but not limited to accessories, insurance premiums, service and warranty contracts and other items customarily financed as part of retail car, minivan, light-duty truck
        or sport utility vehicle installment sales contracts.

    “Annual Percentage Rate” or “APR” of a Receivable means the annual rate of finance charges specified in such
        Receivable.

    “Basic Documents” means this Receivables Purchase Agreement, the Trust Agreement, the Sale and Servicing Agreement,
        the Indenture, the Administration Agreement, the Securities Account Control Agreement, the Asset Representations Review Agreement and the other documents and certificates delivered in connection herewith and therewith.

    “Closing Date” shall mean May 8, 2019.

    “Cutoff Date” shall mean the close of business on March 31, 2019.

    “Dealer Recourse” means, with respect to a Receivable, all recourse rights against the Dealer that originated the
        Receivable, and any successor Dealer, in respect of breaches of

    
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    representations and warranties relating to the origination of the related Receivables and the perfection of the security interests in the
        related Financed Vehicles.

    “Financed Vehicle” means, with respect to a Receivable, the related cars, minivans, light-duty trucks or sport utility
        vehicles, as the case may be, together with all accessions thereto, securing the related Obligor’s indebtedness under such Receivable.

    “Indenture Trustee” shall mean U.S. Bank National Association, as indenture trustee under the Indenture, or any
        successor trustee thereunder.

    “Issuer” means the Toyota Auto Receivables 2019-B Owner Trust, a Delaware statutory trust.

    “Lien” means any security interest, lien, charge, pledge, equity or encumbrance of any kind other than tax liens,
        mechanics’ liens and any liens that attach to a Receivable or any property, as the context may require, by operation of law.

    “Liquidation Proceeds” means, with respect to a Defaulted Receivable, all amounts realized with respect to such
        Receivable from whatever sources (including, without limitation, proceeds of any Insurance Policy), net of amounts that are required by law or such Receivable to be refunded to the related Obligor.

    “Obligor” on a Receivable means the purchaser or co-purchasers of the related Financed Vehicle purchased in part or in
        whole by the execution and delivery of such Receivable or any other Person who owes or may be liable for payments under such Receivable.

    “Owner Trustee” shall mean Wilmington Trust, National Association, not in its individual capacity but solely as owner
        trustee under the Trust Agreement, or any successor trustee thereunder.

    “Purchaser” shall mean Toyota Auto Finance Receivables LLC, in its capacity as purchaser of the Receivables under this
        Agreement, and its successors and assigns.

    “Receivable” means any retail installment sales contract executed by an Obligor in respect of a Financed Vehicle, and
        all proceeds thereof and payments thereunder, which Receivable shall be identified in the Schedule of Receivables attached as an Exhibit to the Transfer Notice delivered on the Closing Date, as amended from time to time.

    “Receivable File” means with respect to each Receivable:

    (a)      the original tangible
        record constituting or forming a part of such Receivable that is tangible chattel paper (as such term is defined in Section 9-102 of the UCC) fully executed and “signed” (within the meaning of the UCC) by the related Obligor, or a copy or image of
        such original tangible record that is stored in an electronic medium that the Servicer maintains in accordance with its Customary Servicing Practices and that is a single “authoritative copy” (as such term is used in Section 9-105 of the UCC) of
        such Receivable, which authoritative copy identifies TMCC as the secured party under such Receivable or as the

    
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    assignee of the secured party under such Receivable, or the authoritative copy of the electronic record evidencing electronic chattel
        paper initially authenticated by the related Obligor that (i) is maintained for TMCC by a third party provider acting on behalf of TMCC that (x) provides computer services that enables Dealers to create, store, control and assign electronic
        records, records constituting an “authoritative copy”, and other related materials and (y) enables TMCC to accept assignment of, control, assign and store, the authoritative copy of such electronic chattel paper and electronic records and other
        related materials and (ii) identifies TMCC as the secured party under such Receivable or as the assignee of the secured party under such Receivable;

    (b)      the original credit
        application executed by the related Obligor (or a photocopy or other image thereof that the Servicer keeps on file in accordance with its Customary Servicing Practices), on TMCC’s customary form, or on a form approved by TMCC;

    (c)      the original
        certificate of title (or evidence that such certificate of title has been applied for), or a photocopy or other image thereof of such documents that the Servicer keeps on file in accordance with the Servicer’s Customary Servicing Practices,
        evidencing the security interest in the related Financed Vehicle; and

    (d)      any and all other
        documents (whether tangible or electronic) that the Seller or the Servicer, as the case may be, keeps on file, in accordance with its Customary Servicing Practices, relating to such Receivable or the related Obligor or Financed Vehicle, including
        documents evidencing or relating to any Insurance Policy.

    “Receivables Purchase Price” shall mean $1,907,216,811.97.

    “Sale and Servicing Agreement” shall mean the Sale and Servicing Agreement dated as of May 8, 2019, by and among
        Toyota Auto Receivables 2019-B Owner Trust, as issuer, Toyota Auto Finance Receivables LLC, as seller, and Toyota Motor Credit Corporation, as servicer, and as to which the Indenture Trustee is a third party beneficiary.

    “Securities Account Control Agreement” shall have the meaning ascribed thereto in the Sale and Servicing Agreement.

    “Seller” shall mean Toyota Motor Credit Corporation, in its capacity as seller of the Receivables under this
        Agreement, and its successors and assigns.

    “Transfer Notice” means a notice substantially in the form of Exhibit A hereto.

    “Trust Agreement” means the Amended and Restated Trust Agreement, dated as of May 8, 2019, by and between Toyota Auto
        Finance Receivables LLC, as depositor, and the Owner Trustee.

    “Warranty Purchase Payment” means, with respect to a Payment Date and to a Warranty Receivable which is a Simple
        Interest Receivable repurchased by the Seller as of the close of business on the last day of the related Collection Period, the sum of (a) the unpaid Principal

    
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    Balance owed by the Obligor in respect of such Receivable as of the last day of the related Collection Period plus (b) interest on such
        unpaid Principal Balance at a rate equal to the related APR to the last day in the related Collection Period.

    “Warranty Receivable” means a Receivable purchased by the Seller pursuant to Section 2.04.

    SECTION 1.02.      Other Definitional Provisions.

    (a)      All capitalized terms
        not otherwise defined in this Agreement shall have the defined meanings used in the Sale and Servicing Agreement or Trust Agreement, as the case may be.

    (b)      With respect to all
        terms in this Agreement, the singular includes the plural and the plural the singular; words importing any gender include the other genders; references to “writing” include printing, typing, lithography and other means of reproducing words in a
        visible form; references to agreements and other contractual instruments include all subsequent amendments, amendments and restatement and supplement thereto or changes therein entered into in accordance with their respective terms and not
        prohibited by this Agreement; references to Persons include their permitted successors and assigns; the words “hereof,” “herein” and “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; and the term “including” means “including without limitation.

    ARTICLE II

        

        CONVEYANCE OF RECEIVABLES

    SECTION 2.01.      Conveyance of Receivables.

    (a)      Subject to the terms
        and conditions of this Agreement, on the Closing Date the Seller agrees to sell to the Purchaser, and the Purchaser agrees to purchase from the Seller, without recourse (subject to the Seller’s obligations hereunder):

    (i)      all
        right, title and interest of the Seller in and to the Receivables and all monies due thereon or paid thereunder or in respect thereof (including proceeds of the repurchase of Receivables by the Seller pursuant to Section 2.04) after the Cutoff
        Date;

    (ii)      the

        interest of the Seller in the security interests in the Financed Vehicles granted by the Obligors pursuant to the Receivables and any accessions thereto;

    (iii)      the

        interest of the Seller in any proceeds of any physical damage insurance policies covering Financed Vehicles and in any proceeds of any Insurance Policies relating to the Receivables or the Obligors;

    
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    (iv)      the

        interest of the Seller in any Dealer Recourse;

    (v)      the
        right of the Seller to realize upon any property (including the right to receive future Liquidation Proceeds) that shall have secured a Receivable and have been repossessed in accordance with the terms thereof; and

    (vi)      all

        proceeds of the foregoing.

    The parties hereto intend that the conveyance hereunder be a sale.  In the event that the conveyance hereunder is not
        for any reason considered a sale, the Seller hereby grants to the Purchaser a first priority perfected security interest in all of its right, title and interest in, to and under the Receivables, and all other property conveyed hereunder and listed
        in this Section and all proceeds of any of the foregoing.  The parties intend that this Agreement constitute a security agreement under applicable law.  Such grant is made to secure the payment of all amounts payable hereunder, including, without
        limitation, the Receivables Purchase Price.

    In connection with the sale of the Receivables by the Seller to the Purchaser, the Seller agrees to deliver a Transfer
        Notice identifying the Receivables to the Purchaser on the Closing Date.

    (b)      In connection with the
        foregoing conveyance, the Seller agrees to record and file, at its own expense, one or more financing statements with respect to the Receivables now existing and hereafter created for the sale of chattel paper (as defined in Section 9-102 of the
        UCC as in effect in the State of California) meeting the requirements of applicable state law in such manner as is necessary to perfect the sale of the Receivables to the Purchaser, and the proceeds thereof (and any continuation statements as are
        required by applicable state law), and to deliver a file-stamped copy to the Indenture Trustee of each such financing statement (or continuation statement) or other evidence of such filings (which may, for purposes of this Section, consist of
        telephone confirmation of such filings with the file stamped copy of each such filings to be provided to the Purchaser in due course), as soon as is practicable after receipt by the Seller thereof.

    In connection with the foregoing conveyance, the Seller further agrees, at its own expense, on or prior to the Closing
        Date (i) to annotate and indicate in its electronic files which are maintained for the purpose of identifying retail installment sales contracts which have been transferred in connection with securitizations to show that the Receivables have been
        transferred to the Purchaser pursuant to this Agreement, (ii) to deliver to the Purchaser a computer file or printed or microfiche list containing a true and complete list of all such Receivables, identified by account number and by the Principal
        Balance of each Receivable as of the Cutoff Date, which file or list shall be delivered to the Purchaser on the Closing Date and is hereby incorporated into and made a part of this Agreement and (iii) to deliver the Receivable Files to or upon the
        order of the Purchaser.

    SECTION 2.02.      Representations and Warranties of the Seller and the Purchaser.

    
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    (a)      The Seller hereby
        represents and warrants to the Purchaser as of the date of this Agreement that:

    (i)      Organization and Good Standing.  The Seller shall have been duly organized and shall be validly existing as a corporation in good standing under the laws of its jurisdiction
        of incorporation, with power and authority to own its properties and to conduct its business as such properties shall be currently owned and such business is presently conducted, and had at all relevant times, and shall now have, corporate power,
        authority and legal right to acquire, own and sell the Receivables.

    (ii)      Due Qualification.  The Seller shall be duly qualified to do business as a foreign corporation in good standing, and shall have obtained all necessary licenses and approvals
        in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the Seller to conduct its
        business or perform its obligations under this Agreement.

    (iii)      Power and Authority.  The Seller shall have the corporate power and authority to execute and deliver this Agreement and to carry out its terms; the Seller shall have full
        power and authority to sell the property to be sold pursuant to this Agreement; and the execution, delivery and performance of this Agreement shall have been duly authorized by the Seller by all necessary action.

    (iv)      Binding Obligation.  This Agreement shall have been duly authorized by all necessary corporate action on the part of the Seller and shall evidence a valid sale, transfer and
        assignment of the Receivables, enforceable against creditors of and purchasers from the Seller; and shall constitute a legal, valid and binding obligation of the Seller enforceable in accordance with its terms, except as enforceability may be
        limited by bankruptcy, insolvency, reorganization or other similar laws affecting creditors’ rights generally or by general equity principles.

    (v)      No Violation.  The consummation of the transactions contemplated by this Agreement and the fulfillment of the terms of this Agreement shall not conflict with, result in any
        breach of any of the terms and provisions of, nor constitute (with or without notice or lapse of time) a default under, the articles of incorporation or bylaws of the Seller or any indenture, agreement or other instrument to which the Seller is a
        party or by which it shall be 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 the Basic Documents), nor violate any law
        or, to the best of the Seller’s knowledge, any order, rule or regulation applicable to the Seller of any court or of any federal or state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the
        Seller or its properties which breach,

    
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    default, conflict, lien or violation would have a material adverse effect on the earnings or business affairs of the
        Seller.

    (vi)      No Proceedings.  There is no action, suit or proceeding before or by any court or governmental agency or body, domestic or foreign, now pending, or to the Seller’s knowledge,
        threatened, against or affecting the Seller:  (i) asserting the invalidity or unenforceability of this Agreement, (ii) seeking to prevent the consummation of any of the transactions contemplated by this Agreement or (iii) seeking any determination
        or ruling that might materially and adversely affect the performance by the Seller of its obligations under, or the validity or enforceability of, this Agreement.

    (vii)     Intent to Sell.  It is the intention of the Seller that the transfer and assignment herein contemplated, taken as a whole, constitute a sale of the Receivables from the Seller
        to the Purchaser and that the beneficial interest in and title to the Receivables not be part of the debtor’s estate in the event of the filing of a bankruptcy petition by or against the Seller under any bankruptcy law.

    (viii)    Schedule of Receivables to the Transfer Notice.  As of the Cutoff Date, the information set forth in the Schedule of Receivables attached to the Transfer Notice shall be true
        and correct in all material respects.

    (ix)      No Adverse Selection.  No selection procedures adverse to the Securityholders shall have been utilized in selecting the Receivables from those new and used car, minivan,
        light-duty truck and sport utility vehicle receivables of TMCC that met the selection criteria set forth in this Agreement.

    (x)        No Restriction on Sale.  The Seller has not entered into any agreement with any Person that prohibits, restricts or conditions the sale of any Receivable by the Seller.

    (xi)      Perfection Representations, Warranties and Covenants.  The Seller hereby makes the perfection
        representations, warranties and covenants set forth on Schedule I hereto to the Purchaser and the Purchaser shall be deemed to have relied on such representations, warranties and covenants in acquiring the Receivables.

    (b)      The Purchaser hereby
        represents and warrants to the Seller as of the date of this Agreement that:

    (i)       Organization and Good Standing.  The Purchaser shall have been duly organized and shall be validly existing as a limited liability company in good standing under the laws of
        the State of Delaware, with power and authority to own its properties and to conduct its business as such properties shall be currently owned and such business is presently conducted, and had at all relevant times, and

    
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    shall now have, power, authority and legal right to acquire, own and sell the Receivables.

    (ii)      Due Qualification.  The Purchaser shall be duly qualified to do business as a foreign limited liability company in good standing, and shall have obtained all necessary
        licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications and where the failure to so qualify will have a material adverse effect on the ability of the
        Purchaser to conduct its business or perform its obligations under this Agreement.

    (iii)     Power and Authority.  The Purchaser shall have the power and authority to execute and deliver this Agreement and to carry out its terms; the Purchaser shall have full power
        and authority to purchase the property to be purchased and shall have duly authorized such purchase; and the execution, delivery and performance of this Agreement shall have been duly authorized by the Purchaser by all necessary action.

    (iv)     Binding Obligation.  This Agreement shall have been duly authorized by all necessary limited liability company action on the part of the Purchaser and shall evidence a valid
        sale, transfer and assignment of the Receivables, enforceable against creditors of and purchasers from the Purchaser; and shall constitute a legal, valid and binding obligation of the Purchaser enforceable in accordance with its terms, except as
        enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting creditors’ rights generally or by general equity principles.

    (v)      No Violation.  The consummation of the transactions contemplated by this Agreement and the fulfillment of the terms of this Agreement shall not conflict with, result in any
        breach of any of the terms and provisions of, nor constitute (with or without notice or lapse of time) a default under, the Certificate of Formation or limited liability company agreement of the Purchaser or any indenture, agreement or other
        instrument to which the Purchaser is a party or by which it shall be 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 the
        Basic Documents), nor violate any law or, to the best of the Purchaser’s knowledge, any order, rule or regulation applicable to the Purchaser of any court or of any federal or state regulatory body, administrative agency or other governmental
        instrumentality having jurisdiction over the Purchaser or its properties which breach, default, conflict, lien or violation would have a material adverse effect on the earnings or business affairs of the Purchaser.

    (vi)     No Proceedings.  There is no action, suit or proceeding before or by any court or governmental agency or body, domestic or foreign, now pending, or to the Purchaser’s
        knowledge, threatened, against or affecting the Purchaser: (i) asserting the invalidity or unenforceability of this Agreement, (ii) seeking to

    
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    prevent the consummation of any of the transactions contemplated by this Agreement or (iii) seeking any determination
        or ruling that might materially and adversely affect the performance by the Purchaser of its obligations under, or the validity or enforceability of, this Agreement.

    (c)      Survival and Notice of Breach.  The representations and warranties set forth in this Section 2.02 shall survive the sale of the Receivables by the Seller to the Purchaser
        pursuant to this Agreement and the sale of the Receivables by the Purchaser to the Issuer pursuant to the Sale and Servicing Agreement and the pledge thereof to the Indenture Trustee pursuant to the Indenture. Upon discovery by the Seller or the
        Purchaser of a breach of any of the foregoing representations and warranties, the party discovering such breach shall give prompt written notice to the other party.

    SECTION 2.03.      Representations and Warranties of the Seller as to the Receivables.

    (a)      Eligibility of Receivables.  The Seller makes the following representations and warranties as to the Receivables on which the Purchaser is deemed to have relied in acquiring
        the Receivables.  Such representations and warranties speak as of the Cutoff Date and as of the Closing Date (unless, by its terms, a representation or warranty speaks specifically as of the Cutoff Date or the Closing Date, in which case, such
        representation or warranty speaks specifically as of such date only).

    (i)      Origination.  Each Receivable was originated in the United States by a Dealer for the retail sale of the related Financed Vehicle in the ordinary course of such Dealer’s
        business, has been fully and properly executed or electronically authenticated by the parties thereto, has been purchased by TMCC from such Dealer under an existing agreement with TMCC and has been validly assigned by such Dealer to TMCC.

    (ii)     Security Interest.  With respect to each Receivable, as of the Closing Date, TMCC has, or has started procedures that will result in TMCC having, a perfected, first priority
        security interest in the related Financed Vehicle, which security interest was validly created and is assignable by the Seller to the Purchaser, and by the Purchaser to the Issuer.

    (iii)    Simple Interest.  Each Receivable provides for scheduled monthly payments that fully amortize the Amount Financed by maturity (except for minimally different payments in the
        first or last month in the life of the Receivable) and provide for a finance charge or yield interest at its APR, in either case calculated based on the Simple Interest Method.

    (iv)    Prepayment.  Each Receivable allows for prepayment without penalty.

    (v)     Compliance with Law.  To the Seller’s knowledge, each Receivable complied in all material respects at the time it was originated with all

    
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    requirements of applicable federal, state and local laws, and regulations thereunder.

    (vi)      Binding Obligation.  Each Receivable is on a form contract containing customary and enforceable provisions that includes rights and remedies allowing the holder to enforce the
        obligation and realize on the related Financed Vehicle and represents the legal, valid and binding payment obligation in writing of the related Obligor, enforceable by the holder thereof in accordance with its terms, except as enforceability may be
        limited by bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting the enforcement of creditors’ rights in general and by general principles of equity and consumer protection laws, regardless of whether such
        enforceability is considered in a proceeding in equity or at law.

    (vii)     No Government Obligors.  None of the Receivables is due from the United States or any state or local government, or from any agency, department or instrumentality of the
        United States or any state or local government.

    (viii)    Receivables in Force.  As of the Cutoff Date, no Receivable has been satisfied, nor has any Financed Vehicle been released in whole or in part from the lien granted by the
        related Receivable.

    (ix)      No Amendments or Waivers.  As of the Cutoff Date, no material provision of a Receivable has been amended, modified or waived in a manner that is prohibited by the provisions
        of the Sale and Servicing Agreement.

    (x)       No Defenses.  To the Seller’s knowledge, as of the Closing Date, no Receivable is subject to any right of rescission, setoff, counterclaim or defense, nor has any such right
        been asserted or threatened with respect to any Receivable.

    (xi)      No Payment Default.  Except for payment delinquencies that have been continuing for a period of not more than 29 days, no payment default under the terms of any Receivable
        exists as of the Cutoff Date.

    (xii)     No Repossession.  No Financed Vehicle has been repossessed without reinstatement as of the Cutoff Date.

    (xiii)    Insurance.  The terms of each Receivable require the related Obligor to obtain and maintain physical damage insurance covering the related Financed Vehicle in accordance with
        TMCC’s normal requirements.  No Financed Vehicle was subject to force-placed insurance.

    (xiv)    Good Title.  Immediately prior to the transfer and assignment herein contemplated, the Seller had good and marketable title to each Receivable free and clear of all Liens and
        rights of others (other than pursuant to the Basic

    
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    Documents) and, immediately upon the transfer and assignment thereof, the Purchaser will have good and marketable
        title to each Receivable, free and clear of all Liens and rights of others (other than pursuant to the Basic Documents).

    (xv)      Lawful Assignment.  No Receivable has been originated in, or is subject to the laws of, any jurisdiction under which the sale, transfer and assignment of such Receivable under
        this Agreement, or pursuant to the Sale and Servicing Agreement or the pledge of such Receivable under the Indenture are unlawful, void or voidable.  The terms of each Receivable do not limit the right of the owner of such Receivable to sell such
        Receivable.

    (xvi)      Additional Representations and Warranties.  (A) Each Receivable is being serviced by TMCC as of the Closing Date; (B) each Receivable is secured by a new or used car, minivan,
        light-duty truck or sport utility vehicle; (C) no Receivable was more than 29 days past due as of the Cutoff Date; and (D) as of the Cutoff Date, no Receivable was noted in the records of TMCC or the Servicer as being the subject of a bankruptcy
        proceeding or insolvency proceeding.

    (b)      Survival and Notice of Breach.  The representations and warranties set forth in this Section 2.03 shall speak as of the execution and delivery of this Agreement, but shall
        survive the sale, transfer and assignment of the Receivables to the Purchaser, any subsequent assignment or transfer pursuant to Article Two of the Sale and Servicing Agreement and any subsequent pledge of the Receivables under the Indenture. The
        Purchaser or the Seller, or the Owner Trustee, as the case may be, shall inform the other party promptly, in writing, upon discovery of any breach of the Seller’s representations and warranties pursuant to this Section which materially and
        adversely affects the interests of the Purchaser (or any assignee thereof) in any Receivable.

    SECTION 2.04.      Repurchase of Receivables.  In the event of a breach of any representation or warranty set forth in Section 2.03(a) which materially and adversely affects the interest of the
        Purchaser (or any assignee thereof) in any Receivable, without regard to any limitation set forth in such representation or warranty concerning the knowledge of the Seller as to the facts stated therein, unless such breach shall have been cured in
        all material respects, the Seller shall repurchase such Receivable by the last day of the second Collection Period following the Collection Period in which the discovery of the breach is made or notice is received, as the case may be. This
        repurchase obligation shall obtain for all representations and warranties of the Seller contained in Section 2.03(a) of this Agreement whether or not the Seller has knowledge of the breach at the time of the breach or at the time the
        representations and warranties were made. In consideration of the purchase of any such Receivable, the Seller shall remit an amount equal to the Warranty Purchase Payment in respect of such Receivable to the Purchaser. Except as described below,
        the sole remedy of the Purchaser (or any assignee thereof) with respect to a breach of the Seller’s representations and warranties pursuant to this Agreement shall be to require the Seller to repurchase the related Receivable pursuant to this
        Section. Upon any such repurchase, the Purchaser shall, without further action, be deemed to transfer, assign, set-over and otherwise convey to the Seller, without recourse, representation or warranty, all the right,

    
      11

      
        

    

    

    

    title and interest of the Purchaser in, to and under such repurchased Receivable, all monies due or to become due with respect thereto
        and all proceeds thereof. The Purchaser or the Owner Trustee, as applicable, shall execute such documents and instruments of transfer or assignment and take such other actions as shall reasonably be requested by the Seller to effect the conveyance
        of such Receivable pursuant to this Section.  The sole remedy of the Purchaser, the Issuer, the Owner Trustee, the Indenture Trustee or the Securityholders with respect to a breach of the Seller’s representations and warranties pursuant to Section
        2.03(a) shall be to require the Seller to repurchase the related Receivables pursuant to this Section.

    SECTION 2.05.      Covenants of the Seller.  The Seller hereby covenants that:

    (a)      Security Interests.  Except for the conveyances hereunder and any subsequent pledge of the Receivables under the Indenture, the Seller will not sell, pledge, assign or
        transfer to any other Person, or grant, create, incur, assume or suffer to exist any Lien on any Receivable, whether now existing or hereafter created, or any interest therein, the Seller will immediately notify the Purchaser of the existence of
        any Lien on any Receivable and, in the event that the interests of the Purchaser (or any assignee thereof) in such Receivable are materially and adversely affected, such Receivable shall be repurchased from the Purchaser by the Seller in the manner
        and with the effect specified in Section 2.04, and the Seller shall defend the right, title and interest of the Purchaser in, to and under the Receivables, whether now existing or hereafter created, against all claims of third parties claiming
        through or under the Seller; provided, however, that nothing in this subsection shall prevent or be deemed to prohibit the Seller from suffering to exist upon any of the Receivables, Liens for municipal or other local taxes if such taxes shall not
        at the time be due and payable or if the Seller shall currently be contesting the validity of such taxes in good faith by appropriate proceedings and shall have set aside on its books adequate reserves with respect thereto.

    (b)      Delivery of Payments.  The Seller agrees to deliver in kind upon receipt to the Servicer under the Sale and Servicing Agreement (if other than the Seller) all payments
        received by the Seller in respect of the Receivables as soon as practicable after receipt thereof by the Seller from and after the appointment of the Servicer as Servicer under the Sale and Servicing Agreement with respect to the Toyota Auto
        Receivables 2019-B Owner Trust.

    (c)      Conveyance of Receivables.  The Seller covenants and agrees that it will not convey, assign, exchange, allow control over or otherwise transfer the Receivables (other than
        Receivables repurchased pursuant to Section 2.04) to any Person prior to the termination of this Agreement pursuant to Article IV hereof.

    (d)      No Impairment.  The Seller shall take no action, nor omit to take any action, which would impair the rights of the Purchaser in any Receivable, nor shall it, except as
        otherwise provided in or permitted by either this Agreement or the Sale and Servicing Agreement, reschedule, revise or defer payments due on any Receivable.

    
      12

      
        

    

    

    

    ARTICLE III

        

        PAYMENT OF RECEIVABLES PURCHASE PRICE

    SECTION 3.01.      Payment of Receivables Purchase Price.  In consideration of the sale of the Receivables from the Seller to the Purchaser as provided in Section 2.01, on the Closing Date the
        Purchaser agrees to pay the Seller an amount equal to the Receivables Purchase Price.

    ARTICLE IV

        

        TERMINATION

    SECTION 4.01.      Termination.  The respective obligations and responsibilities of the Seller and the Purchaser created hereby shall terminate, except for the indemnity obligations of the
        Seller as provided herein, upon the occurrence of (i) the discharge of all obligations of the Issuer under the Indenture and (ii) the termination of the Trust Agreement and dissolution of the Issuer as provided in Article IX of the Trust Agreement.

    ARTICLE V

        

        MISCELLANEOUS PROVISIONS

    SECTION 5.01.      Amendment.  This Agreement may be amended from time to time by the Purchaser and the Seller, without the consent of any of the Issuer, the Owner Trustee, the Indenture
        Trustee, the Noteholders or the Certificateholders, 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 Certificateholders; provided, that either (i) an Officer’s Certificate shall have been
        delivered by the Servicer to the Owner Trustee and the Indenture Trustee certifying that such officer reasonably believes that such proposed amendment will not materially and adversely affect the interest of any Noteholder or (ii) the Rating Agency
        Condition has been satisfied in respect of such proposed amendment.

    This Agreement may also be amended from time to time by the Purchaser and the Seller, with prior written notice to the
        Rating Agencies, and, if the interests of the Noteholders are materially and adversely affected, with the consent of the Holders of Notes evidencing at least a majority of the outstanding principal amount of the Controlling Class of Notes, acting
        together as a single Class, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders or Certificateholders under this
        Agreement.

    No amendment otherwise permitted under this Section 5.01 (except as described in the last sentence of this paragraph)
        may (x) increase or reduce in any manner the amount of, or accelerate or delay the timing of, collections of payments on the Receivables or distributions required to be made for the benefit of any Noteholders or Certificateholders without the
        consent

    
      13

      
        

    

    

    

    of all Noteholders and Certificateholders adversely affected thereby, or (y) reduce the percentage of the Notes or Certificates which are
        required to consent to any such amendment without the consent of the Noteholders and Certificateholders adversely affected thereby; provided, that any amendment referred to in clause (x) or (y) above shall be deemed to not adversely affect any
        Noteholder if the Rating Agency Condition has been satisfied in respect of such proposed amendment.  No amendment referred to in clause (x) in the immediately preceding sentence shall be permitted unless an Officer’s Certificate shall have been
        delivered by the Servicer to the Owner Trustee and the Indenture Trustee certifying that such officer reasonably believes that such proposed amendment will not materially and adversely affect the interest of any Noteholder or Certificateholder
        whose consent was not obtained.  Notwithstanding the immediately preceding two sentences, this Agreement may also be amended by the parties hereto, without the consent of the Noteholders or the Certificateholders, for the purpose of conforming the
        provisions in this Agreement to the descriptions thereof contained in the prospectus, dated April 30, 2019, related to the offering of the Notes.

    Promptly after the execution of any such amendment or consent, the Seller shall furnish written notification of the
        substance of such amendment or consent to the Certificateholder, the Indenture Trustee, the Owner Trustee and each of the Rating Agencies.

    It shall not be necessary for the consent of the Certificateholders, 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.  The manner of obtaining such consents (and any other consents of
        Certificateholders provided for in this Agreement or in any other Basic Document) and of evidencing the authorization of the execution thereof by the Certificateholders shall be subject to such reasonable requirements as the Owner Trustee may
        prescribe.

    SECTION 5.02.      Protection of Right, Title and Interest to Receivables.

    (a)      The Seller, at its
        expense, shall cause this Agreement, all amendments hereto and/or all financing statements and continuation statements and any other necessary documents covering the Purchaser’s right, title and interest to the Receivables and other property
        conveyed by the Seller to the Purchaser hereunder to be promptly recorded, registered and filed, and at all times to be kept recorded, registered and filed, all in such manner and in such places as may be required by law fully to preserve and
        protect the right, title and interest of the Purchaser hereunder to all of the Receivables and such other property. The Seller shall deliver to the Purchaser file-stamped copies of, or filing receipts for, any document recorded, registered or filed
        as provided above, as soon as available following such recording, registration or filing.  The Purchaser shall cooperate fully with the Seller in connection with the obligations set forth above and will execute any and all documents reasonably
        required to fulfill the intent of this subsection.

    (b)      Within thirty (30)
        days after the Seller makes any change in its name, identity or corporate structure which would make any financing statement or continuation statement filed in accordance with paragraph (a) above seriously misleading within the meaning of Section
        9-507 of the UCC as in effect in the applicable state, the Seller shall give the Purchaser notice of any such change and shall execute and file such financing statements or

    
      14

      
        

    

    

    

    amendments as may be necessary to continue the perfection of the Purchaser’s security interest in the Receivables and the proceeds
        thereof.

    (c)      The Seller shall
        notify the Purchaser within thirty (30) days after any relocation of its principal executive office or state of incorporation, if, as a result of such relocation, the applicable provisions of the UCC as in effect in the applicable state would
        require the filing of any amendment of any previously filed financing or continuation statement or of any new financing statement and shall promptly file such financing statements or amendments.

    (d)      The Seller shall
        maintain its computer systems so that, from and after the time of sale under this Agreement of the Receivables, the Seller’s electronic files which are maintained for the purpose of identifying retail installment sales contracts which have been
        transferred in connection with securitizations will show the interest of the Purchaser (or its assignee) in such Receivables and that such Receivables are owned by the Purchaser (or its assignee).  Indication of these respective interests in a
        Receivable shall be deleted from or modified on the Seller’s computer systems when, and only when, the related Receivable shall have become a Liquidated Receivable or been repurchased.

    (e)      If at any time the
        Seller shall propose to sell, grant a security interest in, or otherwise transfer any interest in automotive receivables to, any prospective purchaser, lender or other transferee, the Seller shall give to such prospective purchaser, lender or other
        transferee computer tapes, records or printouts that, if they shall refer in any manner whatsoever to any Receivable, shall indicate clearly that such Receivable has been sold and is owned by the Purchaser.

    SECTION 5.03.      Governing Law.  This Agreement shall be construed in accordance with the laws of the State of New York, without reference to its conflict of law provisions (other than
        Sections 5-1401 and 5-1402 of the General Obligations Law of the State of New York), and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws.

    SECTION 5.04.      Notices.  All demands, notices and communications hereunder shall be in writing and shall be deemed to have been duly given if personally delivered at or mailed by registered
        mail, return receipt requested, to (a) in the case of the Purchaser, to Toyota Auto Finance Receivables LLC, 6565 Headquarters Drive, W2-3D, Plano, Texas 75024-5965, Attention: President; and (b) in the case of Toyota Motor Credit Corporation, 6565
        Headquarters Drive, W2-3D, Plano, Texas 75024-5965, Attention: Treasury Operations Department, (469) 486-9013, with a copy by electronic mail to TFS_Treasury_Operations@toyota.com; or, as to any of such Persons, at such other address as shall be
        designated by such Person in a written notice to the other Persons.

    SECTION 5.05.      Severability of Provisions.  If any one or more of the covenants, agreements, provisions or terms of this Agreement shall for any reason whatsoever be held invalid, then such
        covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions and terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this
        Agreement.

    
      15

      
        

    

    

    

    SECTION 5.06.      Assignment.  This Agreement may not be assigned by the Purchaser or the Seller except as contemplated by this Section 5.06, Section 5.14 of this Agreement, and by the Sale and
        Servicing Agreement; provided, however, that simultaneously with the execution and delivery
        of this Agreement, the Purchaser shall assign all of its right, title and interest herein to the Issuer, which, in turn, will pledge its rights to the Indenture Trustee for the benefit of the Noteholders as provided in Section 2.01 of the Sale and
        Servicing Agreement, to which the Seller hereby expressly consents.  The Seller agrees to perform its obligations hereunder for the benefit of the Issuer and that the Indenture Trustee may enforce the provisions of this Agreement, exercise the
        rights of the Purchaser and enforce the obligations of the Seller hereunder without the consent of the Purchaser.

    SECTION 5.07.      Further Assurances.  The Seller and the Purchaser agree to do and perform, from time to time, any and all acts and to execute any and all further instruments required or
        reasonably requested by the other party hereto or by the Issuer or the Indenture Trustee more fully to effect the purposes of this Agreement, including, without limitation, the execution of any financing statements, amendments, continuation
        statements or releases relating to the Receivables for filing under the provisions of the UCC or other law of any applicable jurisdiction.

    SECTION 5.08.      No Waiver; Cumulative Remedies.  No failure to exercise and no delay in exercising, on the part of the Purchaser, the Issuer, the Indenture Trustee or the Seller, any right,
        remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right,
        remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exhaustive of any rights, remedies, powers and privileges provided by law.

    SECTION 5.09.      Counterparts.  This Agreement may be executed in two or more counterparts (and by different parties on separate counterparts), each of which shall be an original, but all of
        which together shall constitute one and the same instrument.

    SECTION 5.10.      Third-Party Beneficiaries.  This Agreement will inure to the benefit of and be binding upon the parties hereto, the Issuer and the Indenture Trustee for the benefit of the
        Noteholders, each of which shall be considered to be a third-party beneficiary hereof.  Except as otherwise provided in this Agreement, no other Person will have any right or obligation hereunder.

    SECTION 5.11.      Merger and Integration.  Except as specifically stated otherwise herein, this Agreement sets forth the entire understanding of the parties relating to the subject matter
        hereof, and all prior understandings, written or oral, are superseded by this Agreement. This Agreement may not be modified, amended, waived or supplemented except as provided herein.

    SECTION 5.12.      Headings.  The headings herein are for purposes of reference only and shall not otherwise affect the meaning or interpretation of any provision hereof.

    
      16

      
        

    

    

    

    SECTION 5.13.      Indemnification.  The Seller shall indemnify and hold harmless the Purchaser from and against any and all costs, expenses, losses, claims, damages, injury and liabilities to
        the extent that such cost, expense, loss, claim, damage or liability arose out of, and was imposed upon such Person by reason of (i) any failure of a Receivable to have been originated in compliance with all applicable requirements of law or (ii)
        the willful misconduct or negligence of the Seller in the performance of its duties under this Agreement, or by reason of reckless disregard of its obligations and duties under this Agreement, including, but not limited to, any judgment, award,
        settlement, reasonable attorneys’ fees and other costs or expenses incurred in connection with the defense of any actual or threatened action, proceeding or claim; provided, however, that the Seller shall not indemnify any such Person if such acts,
        omissions or alleged acts or omissions constitute negligence or willful misconduct by the Purchaser.  In case any such action is brought against a party indemnified under this Section 5.13 and it notifies the Seller of the commencement thereof, the
        Seller will assume the defense thereof, with counsel reasonably satisfactory to such indemnified party (who may, unless there is, as evidenced by an Opinion of Counsel stating that there is an unwaivable conflict of interest, be counsel to the
        Seller), and the Seller will not be liable to such indemnified party under this Section for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof, other than reasonable costs of
        investigation.

    SECTION 5.14.      Merger or Consolidation of, or Assumption of the Obligations of, the Seller.

    (a)      The Seller shall not
        consolidate with or merge into any other corporation or convey or transfer its properties and assets substantially as an entirety to any Person, unless:

    (i)      the
        corporation formed by such consolidation or into which the Seller is merged or the Person which acquires by conveyance or transfer the properties and assets of the Seller substantially as an entirety shall be organized and existing under the laws
        of the United States or any State or the District of Columbia, and, if the Seller is not the surviving entity, shall expressly assume, by an agreement supplemental hereto, executed and delivered to the Purchaser, in form reasonably satisfactory to
        the Purchaser, the performance of every covenant and obligation of the Seller hereunder and shall benefit from all the rights granted to the Seller hereunder in all material respects; and

    (ii)      The

        Seller shall have delivered to the Purchaser an Officer’s Certificate of the Seller and an Opinion of Counsel each stating that such consolidation, merger, conveyance or transfer and such supplemental agreement comply with this Section and that all
        conditions precedent herein provided for relating to such transaction have been complied with.

    (b)      The obligations of the
        Seller hereunder shall not be assignable nor shall any Person succeed to the obligations of the Seller hereunder except in each case in accordance with the provisions of the foregoing paragraph and of Section 5.06.

    [Remainder of the page intentionally left blank]

     

      

     

      

    
      17

      
        

    

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

    TOYOTA MOTOR CREDIT CORPORATION,

        as Seller

    By:  /s/ Cindy Wang_________________________     

               Name: Cindy Wang

               Title:   Group Vice President — Treasury

    

    

    TOYOTA AUTO FINANCE RECEIVABLES LLC, as Purchaser

    By:  /s/ Matthew Venardi                                            

              Name:  Matthew Venardi

              Title:    Secretary

      

    
      
        

    

    
    EXHIBIT A

    

    

    FORM OF TRANSFER NOTICE

    

    

    

    

    

    

    

    

    

    

    Toyota Auto Finance Receivables LLC

    6565 Headquarters Drive, W2-3D

    Plano, Texas 75024-5965

    Attention: Treasury Operations Department

    

    

    Toyota Motor Credit Corporation

    6565 Headquarters Drive, W2-5A

    Plano, Texas 75024-5965

    Attention: General Counsel

    

    

    Ladies and Gentlemen:

    Reference is made to that certain Receivables Purchase Agreement (the “Receivables Purchase Agreement”), dated as of
        May 8, 2019, between Toyota Motor Credit Corporation (the “Seller”) and Toyota Auto Finance Receivables LLC (the “Purchaser”).  Pursuant to Section 2.01 of the Receivables Purchase Agreement, the Seller hereby delivers this Transfer Notice
        identifying as “Receivables” the receivables described in Exhibit I attached hereto.  All references herein or in the Receivables Purchase Agreement to the Receivables shall be deemed to refer only to the Receivables described in Exhibit I attached
        hereto.

    Capitalized terms used herein but not otherwise defined herein shall have the meanings ascribed to such terms in the
        Receivables Purchase Agreement.

    Kindly acknowledge your agreement and consent to the terms of this letter by signing and returning to us the enclosed
        duplicate copy hereof.

    [SIGNATURE PAGE FOLLOWS]

    
      A-1

      
        

    

    Very truly yours,

    TOYOTA MOTOR CREDIT CORPORATION

    By: _________________________________________

    Name:

    Title:

    Date: 

     

      

    

    

    Acknowledged and consented to:

    

    

    TOYOTA AUTO FINANCE RECEIVABLES LLC,

    By:  _____________________________________________

    Name:

    Title:

    Date:

    

    

    
      A-2

      
        

    

    

    

    

    

    Exhibit I

     

          

     

          

    
      A-3

      
        

    

    
    

    

    SCHEDULE I

    PERFECTION REPRESENTATIONS, WARRANTIES AND COVENANTS

              In addition to the representations, warranties and covenants contained in this Agreement, the Seller
        hereby represents, warrants and covenants to the Purchaser as follows on the Closing Date:

     1.       This Agreement creates a valid and continuing security interest (as defined in the
        applicable UCC) in the Receivables in favor of the Purchaser, which security interest is prior to all other Liens, and is enforceable as such against creditors of and purchasers from the Seller.

    2.      TMCC has taken all steps necessary to perfect its security interest against each Obligor
        in the property securing the Receivables.

    3.       The Receivables constitute “chattel paper” (including “tangible chattel paper” and
        “electronic chattel paper”) within the meaning of the applicable UCC.

    4.       The Seller has caused or will have caused, within ten (10) days after the Closing Date,
        the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the security interest in the Receivables granted to the Purchaser hereunder.

    5.      With respect to Receivables that constitute tangible chattel paper, such tangible chattel
        paper is in the possession of the Servicer, and the Servicer (in its capacity as custodian) is holding such tangible chattel paper solely on behalf and for the benefit of the Seller.  With respect to Receivables that constitute electronic chattel paper, the Servicer has “control” of such electronic chattel paper within the
          meaning of Section 9-105 of the applicable UCC and the Servicer (in its capacity as custodian) is maintaining control of such electronic chattel paper solely on behalf and for the benefit of the Seller.  No person other than the Servicer
        has “control” of any Receivable that is evidenced by electronic chattel paper.

    6.      Either (1) (i) only one authoritative copy of each contract that
        constitutes or evidences the Receivable exists, and each such authoritative copy (y) is unique, identifiable, and unalterable (other than with the participation of TMCC, in the case of an addition or change of an identified assignee and other than
        a revision that is readily identifiable as an authorized or unauthorized revision) and (z) has been communicated to and is maintained by the Servicer or a third party provider acting on behalf of TMCC, (ii) the authoritative copy of the related
        contract identifies only TMCC as the assignee thereof, (iii) each copy of the authoritative copy of the related contract and any copy of a copy are readily identifiable as copies that are not the authoritative copy and (iv) the Receivable has been
        established in a manner such that (a) all copies or revisions that add or change an identified assignee of the authoritative copy of each 

     

      

    
      Sch. I-1

      
        

    

     

      

    contract that constitutes or evidences the Receivable must be made with the
        participation of the TMCC, and (b) all revisions of the authoritative copy of each contract that constitute or evidence the Receivable must be readily identifiable as an authorized or unauthorized revision or (2) each contract that constitutes or
        evidences the Receivable and the system pursuant to which TMCC has acquired such contract reliably establishes TMCC as the person to whom the related chattel paper was assigned.

    7.      In the
          case of a Receivable evidenced by an electronic record consisting of a copy or image stored in an electronic medium of the original contract that was signed by the related Obligor, the related contract was originated in the form of an original
          contract that constitutes “tangible chattel paper” within the meaning of the applicable UCC, such original contract was delivered to the Servicer and, in
          accordance with the Customary Servicing Practices of the Servicer, was or will be destroyed as soon as practicable after the expiration of 14 to 30 days after the conversion of such original contract to an electronic record by a scanning and
          imaging process.  After destruction of the original contract, the related Receivable will be evidenced only by “electronic chattel paper” within the meaning of the applicable UCC.

    8.      The Seller has not authorized the filing of and is not aware of any financing statements
        against the Seller that include a description of collateral covering the Receivables other than any financing statement (i) relating to the conveyance of the Receivables by the Seller to the Purchaser under this Agreement, (ii) relating to the
        conveyance of the Receivables by the Purchaser to the Issuer under the Sale and Servicing Agreement, (iii) relating to the security interest granted to the Indenture Trustee under the Indenture or (iv) that has been terminated.  The Seller is not
        aware of any material judgment, ERISA or tax lien filings against the Seller.

    9.      The Servicer, in its capacity as custodian, has in its possession or control (within the
        meaning of the applicable UCC) the record or records that constitute or evidence the Receivables.  The tangible chattel paper or electronic chattel paper that constitute or evidence the Receivables do not have any marks or notations indicating that
        they have been pledged, assigned or otherwise conveyed to any Person other than the Seller, the Purchaser, the Issuer or the Indenture Trustee.  All financing statements filed or to be filed against the Seller, the Purchaser and the Issuer in
        connection with this Agreement, the Sale and Servicing Agreement and the Indenture, respectively, contain a statement to the following effect: “A purchase of or security interest in any collateral described in this financing statement will violate
        the rights of the Secured Party.”

    10.       Notwithstanding any other provision of this Agreement or any other Basic Document, the
        perfection representations, warranties and covenants contained in this Schedule I shall be continuing, and remain in full force and effect until such time as all
        obligations under the Basic Documents and the Notes have been finally and fully paid and performed.

    11.      The Seller shall provide the Rating Agencies with prompt written notice of any material
        breach of the perfection representations, warranties and covenants contained in this Schedule I, and shall not, without satisfying the Rating Agency Condition, waive a
        breach of any of such perfection representations, warranties or covenants.

    

    

  

  
  Sch. I-2Exhibit 4.5

    

  Execution Version

    

  ADMINISTRATION AGREEMENT

  among

  TOYOTA AUTO RECEIVABLES 2019-B OWNER TRUST,

  as Issuer,

  TOYOTA MOTOR CREDIT CORPORATION,

  as Administrator,

  and

  U.S. BANK NATIONAL ASSOCIATION,

  as Indenture Trustee

  

  

  Dated as of May 8, 2019

   

    

   

    

   

    

  
    
      

  

  
    TABLE OF CONTENTS

    Page

     

      

  

  
  	
          1.

           

        	
          DUTIES OF THE ADMINISTRATOR

           

        	
          2

        
	
          2.

           

        	
          RECORDS

           

        	
          8

        
	
          3.

           

        	
          COMPENSATION

           

        	
          8

        
	
          4.

           

        	
          ADDITIONAL INFORMATION TO BE FURNISHED TO THE ISSUER

           

        	
          8

        
	
          5.

           

        	
          INDEPENDENCE OF THE ADMINISTRATOR

           

        	
          8

        
	
          6.

           

        	
          NO JOINT VENTURE

           

        	
          8

        
	
          7.

           

        	
          OTHER ACTIVITIES OF ADMINISTRATOR

           

        	
          9

        
	
          8.

           

        	
          TERM OF AGREEMENT; RESIGNATION AND REMOVAL OF ADMINISTRATOR

           

        	
          9

        
	
          9.

           

        	
          ACTION UPON TERMINATION, RESIGNATION OR REMOVAL

           

        	
          10

        
	
          10.

           

        	
          NOTICES

           

        	
          10

        
	
          11.

           

        	
          AMENDMENTS

           

        	
          11

        
	
          12.

           

        	
          SUCCESSOR AND ASSIGNS

           

        	
          12

        
	
          13.

           

        	
          GOVERNING LAW

           

        	
          13

        
	
          14.

           

        	
          HEADINGS

           

        	
          13

        
	
          15.

           

        	
          COUNTERPARTS

           

        	
          13

        
	
          16.

           

        	
          SEVERABILITY OF PROVISIONS

           

        	
          13

        
	
          17.

           

        	
          NOT APPLICABLE TO TMCC IN OTHER CAPACITIES

           

        	
          13

        
	
          18.

           

        	
          LIMITATION OF LIABILITY OF OWNER TRUSTEE AND INDENTURE TRUSTEE

           

        	
          13

        
	
          19.

           

        	
          LIMITATION ON LIABILITY OF ADMINISTRATOR

           

        	
          13

        
	
          20.

           

        	
          ADDITIONAL REQUIREMENTS OF THE ADMINISTRATOR

           

        	
          14

        
	
          21.

           

        	
          NO PETITION

           

        	
          15

        
	
          22.

           

        	
          THIRD-PARTY BENEFICIARY

           

        	
          15

        
	
          23.

           

        	
          FORM 10-DS; INVESTOR COMMUNICATIONS

           

        	
          15

        
	 	 	 
	 	 	 
	
          EXHIBITS

        
	
          EXHIBIT A – FORM OF ANNUAL CERTIFICATION

           

        	
          A-1

        

  

  

  
    ii

    
      

  

  ADMINISTRATION AGREEMENT, dated as of May 8, 2019 (this “Agreement”), among TOYOTA AUTO RECEIVABLES 2019-B OWNER
      TRUST, a Delaware statutory trust (the “Issuer”), TOYOTA MOTOR CREDIT CORPORATION, a California corporation, as administrator (the “Administrator”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, not in its individual capacity
      but solely as Indenture Trustee (the “Indenture Trustee”).

  W I T N E S S E T H:

  WHEREAS, beneficial ownership interests in the Issuer represented by the Toyota Auto Receivables 2019-B Owner Trust
      Asset Backed Certificates (the “Certificates”) have been issued in connection with the formation of the Issuer pursuant to the Trust Agreement, dated as of January 3, 2019, as amended and restated by the Amended and Restated Trust Agreement, dated as
      of May 8, 2019 (the “Trust Agreement”), between Toyota Auto Finance Receivables LLC (“TAFR LLC”), a Delaware limited liability company, as depositor, and Wilmington Trust, National Association, not in its individual capacity but solely as owner
      trustee (the “Owner Trustee”), to the owners thereof (the “Owners”);

  
    WHEREAS, the Issuer is issuing the Toyota Auto Receivables 2019-B Owner Trust 2.50000% Asset Backed Notes, Class A-1, the Toyota Auto Receivables
      2019-B Owner Trust 2.59% Asset Backed Notes, Class A-2a, the Toyota Auto Receivables 2019-B Owner Trust LIBOR plus 0.13% Asset Backed Notes, Class A-2b, the Toyota Auto Receivables 2019-B Owner Trust 2.57% Asset Backed Notes, Class A-3, the Toyota
      Auto Receivables 2019-B Owner Trust 2.60% Asset Backed Notes, Class A-4 and the Toyota Auto Receivables 2019-B Owner Trust 0.00% Asset Backed Notes Class B (collectively, the “Notes”) pursuant to the Indenture, dated as of May 8, 2019 (as amended and
      supplemented from time to time, the “Indenture”), between the Issuer and the Indenture Trustee (capitalized terms used herein and not defined herein shall have the meanings ascribed thereto in the Indenture, the Trust Agreement or the Sale and
      Servicing Agreement, dated as of May 8, 2019, among the Issuer, Toyota Motor Credit Corporation (“TMCC”), as servicer, and TAFR LLC, as seller (the “Sale and Servicing Agreement”), as the case may be);

  

  WHEREAS, TMCC and TAFR LLC have entered into the Receivables Purchase Agreement, dated as of May 8, 2019 (the
      “Receivables Purchase Agreement”), by and between TMCC, as seller, and TAFR LLC, as purchaser;

  WHEREAS the Issuer has entered into certain agreements in connection with the issuance of the Certificate and the
      Notes, including the Trust Agreement, the Indenture, this Agreement, the Asset Representations Review Agreement and the Sale and Servicing Agreement (collectively, the “Basic Documents”);

  WHEREAS, pursuant to the Basic Documents, the Issuer, the Owner Trustee and the Indenture Trustee are required to
      perform certain duties in connection with the Certificate, the Notes and the assets pledged pursuant to the granting clause of the Indenture (the “Collateral”);

  WHEREAS the Issuer desires to appoint TMCC as administrator to perform certain of the duties of the Issuer and the
      Owner Trustee under the Basic Documents and to provide such

  
    
      

  

  
  

  

  additional services consistent with the terms of this Agreement and the Basic Documents as the Issuer and the Owner Trustee may from
      time to time request; and

  WHEREAS the Administrator has the capacity to provide the services required hereby and is willing to perform such
      services for the Issuer and the Owner Trustee on the terms set forth herein;

  NOW, THEREFORE, in consideration of the mutual covenants contained herein, and other good and valuable consideration,
      the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

  1.       Duties of the Administrator.

  (a)  Duties with respect to the
      Note Depository Agreement and the Indenture.

  (i)      The

      Administrator agrees to perform all its duties as Administrator and the duties of the Issuer under the Indenture and the Note Depository Agreement.  In addition, the Administrator shall consult with the Owner Trustee regarding the duties of the
      Issuer under the Indenture and the Note Depository Agreement.  The Administrator shall monitor the performance of the Issuer and shall advise the Owner Trustee when action by the Issuer or the Owner Trustee is necessary to comply with the Issuer’s
      duties under the Indenture and the Note Depository Agreement.  The Administrator shall prepare, execute and file or deliver on behalf of the Issuer or shall cause the preparation by other appropriate persons of all such documents, reports, filings,
      instruments, certificates and opinions as it shall be the duty of the Issuer to prepare, file or deliver pursuant to the Indenture and the Note Depository Agreement.  In furtherance of the foregoing, the Administrator shall take all appropriate
      action that is the duty of the Issuer to take pursuant to the Indenture including, without limitation, such of the foregoing as are required with respect to the following matters under the Indenture (references are to sections of the Indenture):

  (A)      causing

      the Note Register to be kept, appointing the Note Registrar and giving the Indenture Trustee notice of any appointment of a new Note Registrar and the location, or change in location, of the Note Register (Section 2.04);

  (B)      preparing

      the notification to Noteholders of the final principal payment on their Notes (Section 2.07(b));

  (C)      fixing

      or causing to be fixed any specified record date and notifying the Indenture Trustee and Noteholders with respect to special payment dates, if any (Section 5.04(b));

  (D)      preparing

      or obtaining the documents and instruments required for the proper authentication of Notes and delivering the same to the Indenture Trustee (Section 2.02);

  (E)      [Reserved];

  
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  (F)      directing

      the Indenture Trustee to retain from amounts otherwise distributable to the Noteholders sufficient funds for the payment of any tax that is legally owed by the Trust (Section 2.07(c));

  (G)      preparing,

      obtaining and/or filing of all instruments, opinions and certificates and other documents required for the release of Collateral (Section 2.09);

  (H)      causing

      newly appointed Paying Agents, if any, to deliver to the Indenture Trustee the instrument specified in the Indenture regarding funds held in trust (Section 3.03);

  (I)      directing

      the Indenture Trustee to deposit moneys with Paying Agents, if any, other than the Indenture Trustee (Section 3.03);

  (J)      obtaining

      and preserving or causing the Owner Trustee to obtain and preserve the Issuer’s qualification to do business in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of the Indenture, the
      Notes, the Collateral and each other instrument and agreement included in the Trust Estate (Section 3.04);

  (K)      preparing

      and filing all supplements, amendments, financing statements, continuation statements, instruments of further assurance and other instruments, in accordance with Sections 3.05 and 3.07(c) of the Indenture, necessary to protect the Trust Estate
      (Sections 3.05 and 3.07(c));

  (L)      delivering

      the required Opinions of Counsel on the Closing Date and annually, in accordance with Section 3.06 of the Indenture, and delivering the annual Officers’ Certificates and certain other statements as to compliance with the Indenture, in accordance with
      Section 3.09 of the Indenture (Sections 3.06 and 3.09);

  (M)      identifying

      to the Indenture Trustee in an Officers’ Certificate any Person with whom the Issuer has contracted to perform its duties under the Indenture (Section 3.07);

  (N)      notifying

      the Indenture Trustee and the Rating Agencies of any Servicer Default pursuant to the Sale and Servicing Agreement and, if such Servicer Default arises from the failure of the Servicer to perform any of its duties under the Sale and Servicing
      Agreement, taking all reasonable steps available to remedy such failure (Section 3.07(d));

  (O)      preparing

      and obtaining documents and instruments required in connection with the consolidation, merger or transfer of assets of the Issuer (Section 3.10);

  
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  (P)      delivering

      notice to the Indenture Trustee of each Event of Default and each other default by the Servicer or the Seller under the Sale and Servicing Agreement (Section 3.19);

  (Q)      causing

      the Servicer to comply with all of its duties and obligations with respect to the preparation of reports, the delivery of Officer’s Certificates and Opinions of Counsel and the giving of instructions and notices under the Sale and Servicing Agreement
      (Section 3.14);

  (R)      monitoring

      the Issuer’s obligations as to the satisfaction and discharge of the Indenture and the preparation of an Officer’s Certificate and obtaining the Opinion of Counsel and the Independent Certificate (as defined in the Indenture) related thereto (Section
      4.01);

  (S)      complying

      with any written directive of the Indenture Trustee with respect to the provision of relevant information and reasonable assistance with respect to the execution, delivery, filing and recordation of relevant transfer documentation and the delivery of
      related records and files, in connection with any sale by the Indenture Trustee of any portion of the Trust Estate in connection with any Event of Default (Section 5.04);

  (T)      delivering

      notice of any resignation of the Indenture Trustee received by the Administrator, and preparing notice to Noteholders of any removal of the Indenture Trustee and the appointment of a successor Indenture Trustee  for delivery to Noteholders by the
      successor Indenture Trustee (Section 6.08);

  (U)      preparing

      all written instruments required to confirm the authority of any co-trustee or separate trustee and any written instruments necessary in connection with the resignation or removal of any co-trustee or separate trustee (Sections 6.08 and 6.10);

  (V)      delivering

      to the Rating Agencies notice of any merger or other transaction entered into by the Indenture Trustee (Section 6.09);

  (W)      causing

      the Note Registrar to furnish to the Indenture Trustee the names and addresses of Noteholders during any period when the Indenture Trustee is not the Note Registrar (Section 7.01);

  (X)      preparing

      and, after execution by the Issuer and the Indenture Trustee, filing with the Commission and any applicable state agencies of documents required to be filed on a periodic basis with the Commission and any applicable state agencies (including any
      summaries thereof required by rules and regulations prescribed thereby), and providing such documents to the Indenture Trustee for delivery to the Noteholders (Section 7.03);

  (Y)      preparing

      and, after execution by the Indenture Trustee, providing to the Indenture Trustee for delivery to Noteholders and filing with the

  
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  Commission, any reports required by TIA Sections 313(a), (b) and (c); provided, that the Administrator will not be
      required to prepare reports required by TIA Sections 313(a)(1) and (a)(2) unless specifically directed in writing to do so by the Indenture Trustee and the Indenture Trustee provides the Administrator with all information necessary to prepare such
      reports (Section 7.04);

  (Z)         preparing

      the related Issuer Orders and all other actions necessary with respect to investment and reinvestment of funds in the Trust Accounts (Section 8.04);

  (AA)      preparing

      any Issuer Request and Officers’ Certificates and obtaining any Opinions of Counsel and Independent Certificates necessary for the release of the Trust Estate (Sections 8.05 and 8.06);

  (BB)      preparing

      Issuer Orders and obtaining Opinions of Counsel with respect to the execution of any supplemental indentures, preparing notices to the Noteholders with respect thereto and furnishing such notices to the Indenture Trustee for delivery to Noteholders
      (Sections 9.01, 9.02 and 9.03);

  (CC)      preparing

      new Notes conforming to the provisions of any supplemental indenture, as appropriate and delivering such Notes to the Owner Trustee for execution and to the Indenture Trustee for authentication (Section 9.07);

  (DD)      delivering

      to the Rating Agencies notice of any prospective termination of the Indenture pursuant to Section 10.01 of the Indenture (Section 10.01);

  (EE)      preparing

      forms of notices to Noteholders of any redemption of the Notes and furnishing such notices to the Indenture Trustee for delivery to Noteholders (Section 10.02);

  (FF)      preparing

      or obtaining all Officers’ Certificates, Opinions of Counsel and Independent Certificates with respect to any requests by the Issuer or the Indenture Trustee to take any action under the Indenture (Section 11.01(a));

  (GG)      preparing

      and delivering Officers’ Certificates and obtaining Independent Certificates, if necessary, for the release of property from the lien of the Indenture (Section 11.01(b));

  (HH)      notifying

      the Rating Agencies, upon any failure of the Indenture Trustee to give such notification, of the information required pursuant to Section 11.04 of the Indenture (Section 11.04);

  (II)         preparing

      and delivering to the Indenture Trustee for delivery to Noteholders any agreements with respect to alternate payment and notice provisions (Section 11.06); and

  
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  (JJ)         causing

      the recording of the Indenture, if applicable (Section 11.14).

  (ii)      The

      Administrator shall promptly pay to the Owner Trustee the amount of any fees, expenses and indemnification amounts not otherwise paid or reimbursed to it by the Issuing Entity on any Payment Date in accordance with the terms of this Agreement,
      Section 8.02 of the Trust Agreement and Section 5.06(b) or (c) of the Sale and Servicing Agreement; provided that the Owner Trustee shall promptly reimburse the Administrator for any such amounts to the extent the Owner Trustee subsequently receives
      payment or reimbursement in respect thereof from the Issuing Entity in accordance with the terms of Section 5.06(b) or (c) of the Sale and Servicing Agreement.

  (iii)      The

      Administrator shall promptly pay to the Indenture Trustee the amount of any fees, expenses and indemnification amounts not otherwise paid or reimbursed to it by the Issuing Entity on any Payment Date in accordance with the terms of the Indenture and
      Section 5.06(b) or (c) of the Sale and Servicing Agreement; provided that the Indenture Trustee shall promptly reimburse the Administrator for any such amounts to the extent the Indenture Trustee subsequently receives payment or reimbursement in
      respect thereof from the Issuing Entity in accordance with the terms of Section 5.06(b) or (c) of the Sale and Servicing Agreement.

  (b)  The Administrator shall
      cause the Issuer to use its best efforts to maintain the effectiveness of all licenses, if any, required to be held by the Issuer under the laws of any jurisdiction in connection with ownership of the Receivables or the terms set forth in the Trust
      Agreement and the Basic Documents and the transactions contemplated thereby until such time as the Issuer shall terminate in accordance with the terms of the Trust Agreement.

  (c)  Additional Duties.

  (i)      In
      addition to the duties of the Administrator set forth in Section 1(a), the Administrator shall perform such calculations, and shall prepare, execute and file or deliver on behalf of the Issuer or the Owner Trustee or shall cause the preparation by
      other appropriate persons of all such documents, reports, notices, filings, instruments, certificates and opinions as it shall be the duty of the Issuer or the Owner Trustee to prepare, file or deliver pursuant to the Basic Documents, and at the
      request of the Owner Trustee shall take all appropriate action with respect thereto, that is the duty of the Issuer or the Owner Trustee to take pursuant to the Basic Documents.  Subject to Section 5 of this Agreement, and in accordance with the
      reasonable written directions of the Owner Trustee, the Administrator shall administer, perform or supervise the performance of such other activities in connection with the Basic Documents as are not covered by any of the foregoing provisions and as
      are expressly requested by the Owner Trustee and are reasonably within the capability of the Administrator.  The responsibilities of the Administrator shall include the execution and delivery of any filings, certificates, affidavits or other
      instruments required under the Sarbanes-Oxley Act of 2002, to the extent permitted by applicable law, and the Owner Trustee hereby requests that the Administrator perform such obligations.

  
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  (ii)      Notwithstanding

      anything in this Agreement or the Basic Documents to the contrary, the Administrator shall be responsible for promptly notifying the Owner Trustee in the event that any withholding tax is imposed on the Issuer’s payments (or allocations of income) to
      the Certificateholder as contemplated in Section 5.02(c) of the Trust Agreement.  Any such notice shall specify the amount of any withholding tax required to be withheld by the Owner Trustee pursuant to such provision.

  (iii)      Notwithstanding

      anything in this Agreement or the Basic Documents to the contrary, the Administrator shall be responsible for performance of the duties set forth in Sections 5.04(a), (b), (c), (d) and (e) of the Trust Agreement with respect to, among other things,
      accounting and reports to the Certificateholder.

  (iv)      The

      Administrator shall perform the duties of the Administrator specified in Section 10.02 of the Trust Agreement required to be performed in connection with the resignation or removal of the Owner Trustee and any other duties expressly required to be
      performed by the Administrator under the Trust Agreement.

  (v)      In
      carrying out the foregoing duties or any of its other obligations under this Agreement, the Administrator may enter into transactions with or otherwise deal with any of its Affiliates; provided, however, that the terms of any such transactions or
      dealings shall be in accordance with any directions received from the Issuer and shall be, in the Administrator’s opinion, no less favorable to the Issuer than would be available from unaffiliated parties.

  (vi)      The

      Administrator shall provide notices to the Rating Agencies as required under the Basic Documents.

  (vii)      It

      shall be the Administrator’s duty and responsibility, and not the Owner Trustee’s duty or responsibility, to cause the Issuer to respond to, defend, participate in or otherwise act in connection with any regulatory, administrative, governmental,
      investigative or other proceeding or inquiry relating in any way to the Issuer, its assets or the conduct of its business.

  (d)  Non-Ministerial Matters.

  (i)      With

      respect to matters that in the reasonable judgment of the Administrator are non-ministerial, the Administrator shall not take any action unless within a reasonable time before the taking of such action the Administrator shall have notified the
      Indenture Trustee or the Owner Trustee, as applicable, of the proposed action and the Indenture Trustee or the Owner Trustee, as applicable, shall not have withheld consent or provided an alternative direction.  For the purpose of the preceding
      sentence, “non-ministerial matters” shall include, without limitation:

  (A)      the

      amendment of the Indenture or execution of any supplement to the Indenture;

  
    7

    
      

  

  

  

  (B)      the

      initiation of any claim or lawsuit by the Issuer and the compromise of any action, claim or lawsuit brought by or against the Issuer (other than in connection with the collection of the Receivables);

  (C)      the

      amendment, change or modification of any of the Basic Documents;

  (D)      the

      appointment of successor Note Registrars, successor Paying Agents or successor Indenture Trustees pursuant to the Indenture or the appointment of successor Administrators or Successor Servicers, or the consent to the assignment by the Note Registrar,
      Paying Agent or Indenture Trustee of its obligations, under the Indenture; and

  (E)      the

      removal of the Indenture Trustee (as to which the Owner Trustee, but not the Indenture Trustee, will receive notice and opportunity to object).

  (ii)      Notwithstanding

      anything to the contrary in this Agreement, the Administrator shall not be obligated to, and shall not, (x) make any payments to the Noteholders under the Basic Documents, (y) sell the Trust Estate pursuant to Section 5.04 of the Indenture or (z)
      take any other action that the Issuer directs the Administrator not to take on its behalf.

  2.       Records.  The Administrator shall maintain appropriate books of account and records relating to services performed hereunder, which books of account and records shall be
      accessible for inspection by the Issuer, the Owner Trustee and the Indenture Trustee at any time during normal business hours upon reasonable advance written notice.

  3.       Compensation.  As compensation for the performance of the Administrator’s obligations under this Agreement and as reimbursement for its expenses related thereto, the
      Administrator shall be entitled to a fee in an amount to be agreed upon between the Servicer and the Administrator, and which shall be solely an obligation of the Servicer.

  4.       Additional Information to be Furnished to the Issuer.  The Administrator shall furnish to the Issuer from time to time such additional information regarding the Collateral as
      the Issuer shall reasonably request.

  5.       Independence of the Administrator.  For all purposes of this Agreement, the Administrator shall be an independent contractor and shall not be subject to the supervision of the
      Issuer, the Owner Trustee or the Indenture Trustee with respect to the manner in which it accomplishes the performance of its obligations hereunder.  Unless expressly authorized by the Issuer hereunder or otherwise, the Administrator shall have no
      authority to act for or represent the Issuer, the Owner Trustee or the Indenture Trustee, and shall not otherwise be or be deemed an agent of the Issuer, the Owner Trustee or the Indenture Trustee.

  6.       No Joint Venture.  Nothing contained in this Agreement shall (i) constitute the Administrator and any of the Issuer, the Owner Trustee or the Indenture Trustee as members of any
      partnership, joint venture, association, syndicate, unincorporated business or other separate

  
    8

    
      

  

  

  

  entity, (ii) be construed to impose any liability as such on any of them or (iii) be deemed to confer on any of them any  express,
      implied or apparent authority to incur any obligation or liability on behalf of the others.

  7.       Other Activities of Administrator.  Nothing herein shall prevent the Administrator or its Affiliates from engaging in other businesses or, in its or their sole discretion, from
      acting as an administrator for any other person or entity, or in a similar capacity therefor, even though such person or entity may engage in business activities similar to those of the Issuer, the Owner Trustee or the Indenture Trustee.

  8.       Term of Agreement; Resignation and Removal of Administrator.

  (a)  This Agreement shall
      continue in force until the termination of the Issuer, upon which event this Agreement shall automatically terminate, except for Sections 1(a)(ii), 1(a)(iii) and 21 hereof, which shall each survive termination of this Agreement.

  (b)  Subject to Sections 8(e) and
      8(f), the Administrator may resign its duties hereunder by providing the Issuer with at least thirty (30) days prior written notice.

  (c)  Subject to Sections 8(e) and
      8(f), the Issuer may remove the Administrator without cause by providing the Administrator with at least thirty (30) days prior written notice.

  (d)  Subject to Sections 8(e) and
      8(f), at the sole option of the Issuer, the Administrator may be removed immediately upon written notice of termination from the Issuer to the Administrator if any of the following events shall occur:

  (i)      the

      Administrator shall fail to perform in any material respect any of its duties under this Agreement and, after notice of such default, shall not cure such default within ten (10) days (or, if such default cannot be cured in such time, shall not give
      within such ten (10) days such assurance of timely and complete cure as shall be reasonably satisfactory to the Issuer);

  (ii)      the

      entry of a decree or order by a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a trustee in bankruptcy, conservator, receiver or liquidator for the Administrator (or, so long as the Administrator
      is TMCC, the Seller) in any bankruptcy, insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings, or for the winding up or liquidation of their respective affairs, and the continuance of any such decree or order
      unstayed and in effect for a period of ninety (90) consecutive days; or

  (iii)      the

      consent by the Administrator (or, so long as the Administrator is TMCC, the Seller) to the appointment of a trustee in bankruptcy, conservator or receiver or liquidator in any bankruptcy, insolvency, readjustment of debt, marshalling of assets and
      liabilities or similar proceedings of or relating to the Administrator (or, so long as the Administrator is TMCC, the Seller) of or relating to substantially all of their property, or the Administrator (or, so long as the Administrator is TMCC, the
      Seller) shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage of any applicable insolvency or reorganization statute, make an

  
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  assignment for the benefit of its creditors, or voluntarily suspend payment of its obligations.

  The Administrator agrees that if any of the events specified in clauses (ii) or (iii) of this Section shall occur, it
      shall give written notice thereof to the Issuer, the Owner Trustee and the Indenture Trustee within seven (7) days after the occurrence of such event.

  (e)  No resignation or removal
      of the Administrator pursuant to this Section shall be effective until (i) a successor Administrator shall have been appointed by the Issuer and (ii) such successor Administrator shall have agreed in writing to be bound by the terms of this Agreement
      in the same manner as the Administrator is bound hereunder.

  (f)  The appointment of any
      successor Administrator shall be effective only after the Rating Agency Condition has been satisfied.

  (g)  Subject to Section 8(e)
      and 8(f), the Administrator acknowledges that upon the appointment of a Successor Servicer pursuant to the Sale and Servicing Agreement, the Administrator shall immediately resign and such Successor Servicer shall automatically succeed to the rights,
      duties and obligations of the Administrator under this Agreement; provided that if the successor Administrator is not an affiliate of TMCC, such successor
      Administrator shall not be required to make any payments as set forth in Sections 1(a)(ii) and (iii) of this Agreement.

  9.       Action upon Termination, Resignation or Removal.  Promptly upon the effective date of termination of this Agreement pursuant to Section 8(a) or the resignation or removal of the
      Administrator pursuant to Section 8(b), (c), (d) or (g), respectively, the Administrator shall be entitled to be paid all fees and reimbursable expenses accruing to it to the date of such termination, resignation or removal.  The Administrator shall
      forthwith upon such termination pursuant to Section 8(a) deliver to or to the order of the Issuer all property and documents of or relating to the Collateral then in the custody of the Administrator.  In the event of the resignation or removal of the
      Administrator pursuant to Section 8(b), (c), (d) or (g), respectively, the Administrator shall cooperate with the Issuer and take all reasonable steps requested to assist the Issuer in making an orderly transfer of the duties of the Administrator.

  10.       Notices.  Any notice, report or other communication given hereunder shall be in writing and addressed as follows:

  (a)  if to the Issuer, to:

  Toyota Auto Receivables 2019-B Owner Trust

  c/o Wilmington Trust, National Association

  Rodney Square North

  1100 North Market Street

  Wilmington, DE 19890

  Attention: Corporate Trust Administration

  

  

  with a copy to:

  Toyota Auto Receivables 2019-B Owner Trust

  
    10

    
      

  

  

  

  6565 Headquarters Drive, W2-5A

  Plano, Texas 75024-5965

  Attention: General Counsel

  (b)  if to the Administrator, to:

  Toyota Motor Credit Corporation

  6565 Headquarters Drive, W2-3D

  Plano, Texas 75024-5965

  Attention:  Treasury Operations Department

  With a copy by electronic mail to: TFS_Treasury_Operations@toyota.com

  (c)  if to the Indenture Trustee,
      to:

  U.S. Bank National Association

  190 South LaSalle Street

      Chicago, IL 60603

      Attention: Toyota Auto Receivables 2019-B Owner Trust

  or to such other address as any party shall have provided to the other parties in writing.  Any notice required to be in writing
      hereunder shall be deemed given if such notice is mailed by certified mail, postage prepaid, or hand delivered to the address of such party as provided above.

  11.       Amendments.  This Agreement may be amended from time to time by a written amendment duly executed and delivered by the Issuer, the Administrator and the Indenture Trustee, with
      the consent of the Owner Trustee, and without the consent of any of the Noteholders or the Certificateholders, 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 Certificateholders; provided, that
      either (i) an Officer’s Certificate shall have been delivered by the Servicer to the Owner Trustee and the Indenture Trustee certifying that such officer reasonably believes that such proposed amendment will not materially and adversely affect the
      interest of any Noteholder or (ii) the Rating Agency Condition has been satisfied in respect of such proposed amendment.

  This Agreement may also be amended from time to time by the Issuer, the Administrator and the Indenture Trustee, with
      the consent of the Owner Trustee and, if the interests of the Noteholders are materially and adversely affected, with the consent of the Holders of Notes evidencing at least a majority of the outstanding principal amount of the Controlling Class of
      Notes, acting together as a single Class, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders or Certificateholders
      under this Agreement.

  No amendment otherwise permitted under this Section 11 (except as described in the last sentence of this paragraph)
      may (x) increase or reduce in any manner the amount of, or accelerate or delay the timing of, collections of payments on the Receivables or distributions required to be made for the benefit of any Noteholders or Certificateholders without the consent

  
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  of all Noteholders and Certificateholders adversely affected thereby, or (y) reduce the percentage of the Notes or Certificates which
      are required to consent to any such amendment without the consent of the Noteholders and Certficateholders adversely affected thereby; provided, that any amendment referred to in clause (x) or (y) above shall be deemed to not adversely affect any
      Noteholder if the Rating Agency Condition has been satisfied in respect of such proposed amendment.  No amendment referred to in clause (x) in the immediately preceding sentence shall be permitted unless an Officer’s Certificate shall have been
      delivered by the Servicer to the Owner Trustee and the Indenture Trustee certifying that such officer reasonably believes that such proposed amendment will not materially and adversely affect the interest of any Noteholder or Certificateholder whose
      consent was not obtained.  Notwithstanding the immediately preceding two sentences, this Agreement may also be amended by the parties hereto, without the consent of the Noteholders or the Certificateholders, for the purpose of conforming the
      provisions in this Agreement to the descriptions thereof contained in the prospectus, dated April 30, 2019, related to the offering of the Notes.

  Promptly after the execution of any such amendment or consent, the Administrator shall furnish written notification
      of the substance of such amendment or consent to the Certificateholder and each of the Rating Agencies.

  It shall not be necessary for the consent of the Certificateholders, 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.  The manner of obtaining such consents and of evidencing the authorization
      of the execution thereof by the Certificateholders shall be subject to such reasonable requirements as the Indenture Trustee may prescribe.

  Prior to the execution of any amendment to this Agreement, the Owner Trustee and the Indenture 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.  The Owner Trustee and the Indenture Trustee may, but shall not be obligated to, enter into any such
      amendment which affects its own rights, duties or immunities under this Agreement or otherwise.  The fees and expenses of the Owner Trustee and the Indenture Trustee in connection with any amendment or supplement hereto shall be paid by the
      Administrator.

  12.       Successor and Assigns.  This Agreement may not be assigned by the Administrator unless such assignment is consented to in writing by the Issuer, the Owner Trustee and the
      Indenture Trustee, and the conditions precedent to appointment of a successor Administrator set forth in Section 8 are satisfied.  An assignment with such consent and satisfaction, if accepted by the assignee, shall bind the assignee hereunder in the
      same manner as the Administrator is bound hereunder.  Notwithstanding the foregoing, this Agreement may be assigned by the Administrator without the consent of the Issuer, the Owner Trustee and the Indenture Trustee to a corporation or other
      organization that is a successor (by merger, consolidation or purchase of assets) to the Administrator, provided that such successor organization executes and delivers to the Issuer, the Owner Trustee and the Indenture Trustee an agreement in which
      such corporation or other organization agrees to be bound hereunder by the terms of said assignment in the same manner as the Administrator is bound hereunder.  Subject to the foregoing, this Agreement shall bind any successors or assigns of the
      parties hereto.

  
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  13.       Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without reference to its conflict of law provisions
      (other than Sections 5-1401 and 5-1402 of the General Obligations Law of the State of New York), and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws.

  14.       Headings.  The section headings hereof have been inserted for convenience of reference only and shall not be construed to affect the meaning, construction or effect of this
      Agreement.

  15.       Counterparts.  This Agreement may be executed in counterparts, each of which when so executed shall together constitute but one and the same agreement.

  16.       Severability of Provisions.  If any one or more of the agreements, provisions or terms of this Agreement shall be for any reason whatsoever held invalid or unenforceable in any
      jurisdiction, then such agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of
      this Agreement or the other rights of the parties hereto.

  17.       Not Applicable to TMCC in Other Capacities.  Nothing in this Agreement shall affect any obligation, right or benefit TMCC may have in any other capacity or under any Basic
      Document.

  18.       Limitation of Liability of Owner Trustee and Indenture Trustee.  Notwithstanding anything contained herein to the contrary, this instrument has been countersigned by Wilmington
      Trust, National Association, not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer, and by U.S. Bank National Association, not in its individual capacity but solely in its capacity as Indenture Trustee under the
      Indenture.  In no event shall Wilmington Trust, National Association, in its individual capacity, U.S. Bank National Association, in its individual capacity, or the Certificateholder have any liability for the representations, warranties, covenants,
      agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer, and the Owner Trustee shall be
      entitled to the benefits of the terms and provisions of the Trust Agreement.

  19.       Limitation on Liability of Administrator.  Neither the Administrator nor any of the directors, officers, employees or agents of the Administrator shall be under any liability to
      the Seller, the Issuer, the Owner Trustee, the Indenture Trustee, the Noteholders or the Certificateholder, except as provided under this Agreement, for any action taken or for refraining from the taking of any action pursuant to this Agreement or
      for errors in judgment; provided, however, that this provision shall not protect the Administrator or any such person against any liability that would otherwise be imposed by reason of willful misfeasance, bad faith or negligence in the performance
      of duties or by reason of reckless disregard of obligations and duties under this Agreement.  The Administrator and any director, officer, employee or agent of the Administrator may rely in good faith on any document of any kind prima facie properly
      executed and submitted by any person respecting any matters arising under this Agreement.

  
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  20.       Additional Requirements of the Administrator.

  (a)  Reporting Requirements.

  (i)      If
      so requested by the Issuer for the purpose of satisfying its reporting obligation under the Exchange Act with respect to any class of asset-backed securities, the Administrator shall (i) notify the Issuer in writing of any material litigation or
      governmental proceedings pending against the Administrator and (ii) provide to the Issuer a description of such proceedings.

  (ii)      As

      a condition to the succession to the Administrator by any Person as permitted by Section 8 hereof, the Administrator shall provide to the Issuer, at least ten (10) Business Days prior to the effective date of such succession or appointment, (x)
      written notice to the Issuer, of such succession or appointment and (y) in writing all information in order to comply with its reporting obligation under Item 6.02 of Form 8-K with respect to any class of asset-backed securities.

  (iii)      In

      addition to such information as the Administrator, as administrator, is obligated to provide pursuant to other provisions of this Agreement, if so requested by the Issuer, the Administrator shall provide such information regarding the performance or
      servicing of the Receivables as is reasonably required to facilitate preparation of distribution reports in accordance with Item 1121 of Regulation AB.

  (b)  Report on Assessment of
      Compliance and Attestation.  On or before ninety (90) days after the end of each fiscal year, commencing with the fiscal year ended December 31, 2019, the Administrator shall, if requested by the Issuer, not later than March 1st of the calendar year in which such certification is to be delivered, deliver to the Issuer and any other Person that will be responsible for signing a Sarbanes
      Certification on behalf of an asset-backed issuer with respect to a securitization transaction, a certification in the form attached hereto as Exhibit A.  The Administrator acknowledges that the Issuer may rely on the certification provided by the
      Administrator pursuant to such clause in signing a Sarbanes Certification and filing such with the Commission.  The Issuer shall not request delivery of such certification unless the Depositor is required under the Exchange Act to file an annual
      report on Form 10-K with respect to an issuing entity whose asset pool includes the Receivables.

  (c)  Intent of the Parties;
      Reasonableness. The Issuer and the Administrator acknowledge and agree that the purpose of Section 20 of this Agreement is to facilitate compliance by the Issuer with the provisions of Regulation AB and related rules and regulations of the
      Commission.

  Neither the Issuer nor the Administrator shall exercise its right to request delivery of information or other
      performance under these provisions other than in good faith, or for purposes other than compliance with the Securities Act, the Exchange Act and the rules and regulations of the Commission thereunder (or the provision in a private offering of
      disclosure comparable to that required under the Securities Act).  The Administrator acknowledges that interpretations of the requirements of Regulation AB may change over time, whether due to interpretive guidance provided by the Commission or its
      staff, consensus among participants in the asset-backed

  
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  securities markets, advice of counsel, or otherwise, and agrees to comply with requests made by the Indenture Trustee, the Servicer or
      any other party to the Transaction Documents in good faith for delivery of information under these provisions on the basis of evolving interpretations of Regulation AB.  In connection therewith, the Administrator shall cooperate fully with the Issuer
      to deliver to the Issuer (including any of its assignees or designees), any and all statements, reports, certifications, records and any other information necessary in the good faith determination of the Issuer, to permit the Issuer to comply with
      the provisions of Regulation AB.

  The Issuer (including any of its assignees or designees) shall cooperate with the Administrator by providing timely
      notice of requests for information under these provisions and by reasonably limiting such requests to information required, in the Issuer’s reasonable judgment, to comply with Regulation AB.

  21.       No Petition.  Each of the parties hereto, by entering into this Agreement, hereby covenants and agrees that it shall not at any time acquiesce, petition or otherwise invoke or
      cause the Issuer or the Depositor to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Issuer or the Depositor under any federal or state bankruptcy, insolvency or similar law, or
      appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuer or the Depositor, as the case may be, or any substantial part of its property, or ordering the winding up or liquidation of the
      affairs of the Issuer or the Depositor, in connection with any obligations relating to the Notes, the Certificates, this Agreement or any of the Basic Documents prior to the date that is one year and one day after the date on which the Indenture is
      terminated.  This Section 21 shall survive the termination of this Agreement and the termination of the Administrator under this Agreement.

  22.       Third-Party Beneficiary.  The Owner Trustee is a third-party beneficiary of this Agreement and is entitled to the rights and benefits given to the Owner Trustee hereunder and
      may enforce the provisions applicable to the Owner Trustee as if the Owner Trustee were a party hereto.

  23.        Form 10-Ds; Investor Communications.

  (a)  Form 10-Ds.

  (i)      If
      the Administrator receives a notice from the Servicer pursuant to Section 11.01(a) of the Sale and Servicing Agreement regarding the occurrence of a Delinquency Trigger with respect to a Collection Period, and describing the related rights of
      Noteholders and Note Owners, the Administrator shall include the contents of such notice in the Form 10-D for such Collection Period filed by the Administrator pursuant to Section 1(a)(i)(Y) hereof.

  (ii)      If

      the Administrator receives a notice from the Indenture Trustee pursuant to Section 12.01 of the Indenture indicating that sufficient Requesting Noteholders have properly and timely requested a vote to cause the ARR Receivables to be reviewed by the
      Asset Representations Reviewer pursuant to the terms of the Asset Representations Review Agreement, the Administrator shall: (1) promptly set a deadline for the receipt of Noteholder votes on that matter, which shall be a date not earlier than

  
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  one hundred fifty (150) days after the date on which the Form 10-D describing the occurrence of the related
      Delinquency Trigger shall have been filed by the Administrator pursuant to the terms of Section 1(a)(i)(Y) hereof; (2) promptly prepare and send to the Indenture Trustee and each Noteholder (and to each applicable Clearing Agency for distribution to
      Note Owners in accordance with the rules of such Clearing Agency) a notice (A) stating that there will be a Noteholder vote pursuant to Section 12.02 of the Indenture on whether to initiate an Asset Representations Review of the ARR Receivables by
      the Asset Representations Reviewer pursuant to the Asset Representations Review Agreement, and (B) describing those procedures, including the means by which Noteholders and Note Owners may make their votes known to the Indenture Trustee and the
      related voting deadline that will be used to calculate whether the requisite amount of Noteholders have cast affirmative votes to direct the Indenture Trustee to notify the Asset Representations Reviewer to commence an Asset Representations Review;
      and (3) include the contents of such notice in the next Form 10-D to be filed by the Administrator pursuant to Section 1(a)(i)(Y) hereof, so long as the Administrator receives such notice at least two (2) Business Days before the filing deadline for
      that Form 10-D, in which case such information will be included in the next succeeding Form 10-D to be filed by the Administrator pursuant to Section 1(a)(i)(Y) hereof.

  (iii)      If

      the Administrator receives a notice from the Indenture Trustee pursuant to Section 12.02 of the Indenture indicating that sufficient Noteholders have voted to cause the ARR Receivables to be reviewed by the Asset Representations Reviewer pursuant to
      the terms of the Asset Representations Review Agreement, the Administrator shall include the contents of such notice in the next Form 10-D to be filed by the Administrator pursuant to Section 1(a)(i)(Y) hereof.

  (iv)      After

      receipt by the Administrator of a Review Report, the Administrator will include a summary of such report in the next Form 10-D to be filed by the Administrator pursuant to Section 1(a)(i)(Y) hereof, so long as the report is received by the
      Administrator at least two (2) Business Days before the filing deadline for that Form 10-D, in which case such the summary will be included in the next succeeding Form 10-D to be filed by the Administrator pursuant to Section 1(a)(i)(Y) hereof.  The
      Form 10-D filed pursuant to this clause (iv) will also specify the means by which Noteholders and Verified Note Owners may notify the Indenture Trustee, TMCC and the Depositor in writing that it considers any non-compliance of any representation to
      be a breach of the applicable Basic Document, or request in writing that an ARR Receivable be repurchased.

  (v)      In
      the event of any resignation, removal, replacement or substitution of the Asset Representations Reviewer, or the appointment of a new Asset Representations Reviewer, pursuant to the terms of the Asset Representations Review Agreement, the
      Administrator will report the occurrence of such event, together with a description of the circumstances surrounding the change and, if applicable, information regarding the new Asset Representations Reviewer, in the Form 10-D filed by the
      Administrator pursuant to Section 1(a)(i)(Y) hereof for the Collection Period in which such change occurs.

  
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  (b)  Investor Communications. 
      If the Administrator receives, during any Collection Period, a request from a Noteholder or Verified Note Owner to communicate with other Noteholders and Note Owners regarding the exercise of rights under the terms of the Basic Documents, the
      Administrator will include in the Form 10-D for the such Collection Period the following information, to the extent provided by the Noteholder or Verified Note Owner in its request: (i) the name of the Noteholder or Verified Note Owner making the
      request, (ii) the date the request was received; (iii) a statement that the Administrator has received the request from that Noteholder or Verified Note Owner that it is interested in communicating with other Noteholders and Note Owners with regard
      to the possible exercise of rights under the Basic Documents; and (iv) a description of the method other Noteholders and Note Owners may use to contact the requesting Noteholder or Verified Note Owner.  The Administrator is not required to include
      any additional information regarding the Noteholder or Verified Note Owner and its request in the Form 10-D, and is required to disclose a Noteholder’s or a Verified Note Owner’s request only where the communication relates to the exercise by a
      Noteholder or Verified Note Owner of its rights under the Basic Documents.  The Administrator will be responsible for the expenses of administering the investor communications provisions set forth in this Section 23(b), which will be compensated by
      means of the fee payable to it by the Servicer, as described in Section 3.

  
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  IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered as of the day and year
      first above written.

  

  

  TOYOTA AUTO RECEIVABLES 2019-B OWNER TRUST

  By:       WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity but solely as
      Owner Trustee

  By:      /s/ Clarice Wright                                                       

        

   
  Name:   Clarice Wright

    

  Title:     Assistant Vice President

    

  TOYOTA MOTOR CREDIT CORPORATION,

  as Administrator

  By:      /s/ Cindy Wang                                                       

        

  Name:  Cindy Wang

    

  Title:    Group Vice President — Treasury

  U.S. BANK NATIONAL ASSOCIATION,

  not in its individual capacity but solely as Indenture Trustee

  By:      /s/ Mirtza J. Escobar                                            

        

  Name:   Mirtza J. Escobar

    

  Title:     Vice President

    

  
    
      

  

  
  EXHIBIT A

  

  

  FORM OF ANNUAL CERTIFICATION

  Re:      The Administration Agreement, dated as of May 8, 2019 (the “Agreement”), among Toyota Auto
      Receivables 2019-B Owner Trust (the “Issuer”), Toyota Motor Credit Corporation (the “Administrator”), and U.S. Bank National Association (the “Indenture Trustee”).

  I, ________________________________, the _______________________ of [NAME OF COMPANY] (the “Company”), certify to the
      Issuer and Toyota Auto Finance Receivables LLC (the “Depositor”) and their officers that:

  1.       I have reviewed this report on Form 10-K and all reports on Form 10-D required to be filed in respect of the
      period covered by this report on Form 10-K of Toyota Auto Receivables 2019-B Owner Trust (the “Exchange Act periodic reports”);

  2.       Based on my knowledge, the Exchange Act periodic reports, taken as a whole, do not contain any untrue
      statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

  3.       Based on my knowledge, all of the distribution, servicing and other information required to be provided
      under Form 10-D for the period covered by this report is included in the Exchange Act periodic reports; and

  4.       All the reports on assessment of compliance with servicing criteria for asset-backed securities and their
      related attestation reports on assessment of compliance with servicing criteria for asset-backed securities required to be included in this report in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been
      included as an exhibit to this report, except as otherwise disclosed in this report. Any material instances of noncompliance described in such reports have been disclosed in this report on Form 10-K.

  In giving the certifications above, I have reasonably relied on information provided to me by the following
      unaffiliated parties: [_____________].

  Dated:      _________________________

  

  

  By:  ___________________________

      Name:

      Title:

  A-1

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