Document:

Exhibit 10.5

  

  
    
      

      

    

    MERCEDES-BENZ AUTO LEASE TRUST 2020-A,

      as Issuer,

     

    MERCEDES-BENZ FINANCIAL SERVICES USA LLC,

      as Servicer and Administrator,

     

    and

     

    CLAYTON FIXED INCOME SERVICES LLC,

      as Asset Representations Reviewer

     

    
      

     

    ASSET REPRESENTATIONS

      REVIEW AGREEMENT

      

      Dated as of January 1, 2020

    

    

    
      

     

    
      
        
          

      

      
      TABLE OF CONTENTS

    

     

      	
              Page

            
	 
	
              ARTICLE ONE

            
	 
	
              USAGE AND DEFINITIONS

            
	 
	
              Section 1.01.

            	
              Capitalized Terms; Rules of Usage

            	
              1

            
	 	 	 
	
              ARTICLE TWO

            
	 
	
              ENGAGEMENT; ACCEPTANCE

            
	 
	
              Section 2.01.

            	
              Engagement; Acceptance

            	
              4

            
	
              Section 2.02.

            	
              Confirmation of Status

            	
              4

            
	 	 	 
	
              ARTICLE THREE

            
	 
	
              ASSET REPRESENTATIONS REVIEW PROCESS

            
	 
	
              Section 3.01.

            	
              Review Notices and Identification of Review Assets

            	
              4

            
	
              Section 3.02.

            	
              Review Materials

            	
              4

            
	
              Section 3.03.

            	
              Performance of Reviews

            	
              5

            
	
              Section 3.04.

            	
              Review Report

            	
              5

            
	
              Section 3.05.

            	
              Review Representatives

            	
              6

            
	
              Section 3.06.

            	
              Dispute Resolution

            	
              6

            
	
              Section 3.07.

            	
              Limitations on Review Obligations

            	
              6

            
	 	 	 
	
              ARTICLE FOUR

            
	 
	
              ASSET REPRESENTATIONS REVIEWER

            
	 
	
              Section 4.01.

            	
              Representations and Warranties of the Asset Representations Reviewer

            	
              7

            
	
              Section 4.02.

            	
              Covenants

            	
              8

            
	
              Section 4.03.

            	
              Fees and Expenses

            	
              8

            
	
              Section 4.04.

            	
              Limitation on Liability

            	
              10

            
	
              Section 4.05.

            	
              Indemnification by Asset Representations Reviewer

            	
              10

            
	
              Section 4.06.

            	
              Indemnification of Asset Representations Reviewer

            	
              10

            
	
              Section 4.07.

            	
              Inspections of Asset Representations Reviewer

            	
              11

            
	
              Section 4.08.

            	
              Delegation of Obligations

            	
              11

            
	
              Section 4.09.

            	
              Confidential Information

            	
              11

            
	
              Section 4.10.

            	
              Personally Identifiable Information

            	
              12

            

      

      

      
        i

        
          

      

      	
              Page

            
	 
	
              ARTICLE FIVE

            
	 
	
              REMOVAL, RESIGNATION

            
	 
	
              Section 5.01.

            	
              Eligibility of the Asset Representations Reviewer

            	
              14

            
	
              Section 5.02.

            	
              Resignation and Removal of Asset Representations Reviewer

            	
              14

            
	
              Section 5.03.

            	
              Successor Asset Representations Reviewer

            	
              15

            
	
              Section 5.04.

            	
              Merger, Consolidation or Succession

            	
              16

            
	 	 	 
	
              ARTICLE SIX

            
	 
	
              OTHER AGREEMENTS

            
	 
	
              Section 6.01.

            	
              Independence of the Asset Representations Reviewer

            	
              16

            
	
              Section 6.02.

            	
              No Petition

            	
              16

            
	
              Section 6.03.

            	
              Limitation of Liability of Owner Trustee

            	
              16

            
	
              Section 6.04.

            	
              Termination of Agreement

            	
              17

            
	 	 	 
	
              ARTICLE SEVEN

            
	 
	
              MISCELLANEOUS PROVISIONS

            
	 
	
              Section 7.01.

            	
              Amendments

            	
              17

            
	
              Section 7.02.

            	
              Assignment; Benefit of Agreement; Third Party Beneficiaries

            	
              17

            
	
              Section 7.03.

            	
              Notices

            	
              18

            
	
              Section 7.04.

            	
              GOVERNING LAW

            	
              18

            
	
              Section 7.05.

            	
              WAIVER OF JURY TRIAL

            	
              19

            
	
              Section 7.06.

            	
              No Waiver; Remedies

            	
              19

            
	
              Section 7.07.

            	
              Severability

            	
              19

            
	
              Section 7.08.

            	
              Table of Contents and Headings

            	
              19

            
	
              Section 7.09.

            	
              Counterparts

            	
              19

            
	 	 	 
	
              Schedule A –

            	
              Representations and Warranties, Review Materials and Tests

            	
              SA-1

            

       

      
        ii

        
          

      

       

    This ASSET REPRESENTATIONS REVIEW AGREEMENT, dated as of January 1, 2020 (as amended, restated, supplemented or otherwise modified from time to time, this “Agreement”), is among MERCEDES-BENZ AUTO LEASE
      TRUST 2020-A, a Delaware statutory trust (the “Issuer”), MERCEDES-BENZ FINANCIAL SERVICES USA LLC, a Delaware limited liability company, as servicer and administrator (in such capacities, the “Servicer” and the “Administrator”, respectively), and
      CLAYTON FIXED INCOME SERVICES LLC, a Delaware limited liability company (the “Asset Representations Reviewer”).

     

    RECITALS

     

    WHEREAS, the Issuer will engage the Asset Representations Reviewer to perform a review of certain motor vehicle leases and leased vehicles for compliance with certain representations and warranties made
      with respect thereto; and

     

    WHEREAS, the Asset Representations Reviewer desires to perform such review in accordance with the terms of this Agreement.

     

    NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

     

    ARTICLE ONE

      

      USAGE AND DEFINITIONS

     

    Section 1.01.  Capitalized Terms; Rules of Usage.  Capitalized terms used in this Agreement that are not otherwise defined shall have the meanings ascribed thereto in Appendix 1 to the 2020-A
      Servicing Supplement or, if not defined therein, in Appendix A to the Basic Collateral Agency Agreement, which Appendices are hereby incorporated into and made a part of this Agreement.  Appendix 1 also contains rules of usage applicable to this
      Agreement.  Whenever used herein, unless the context otherwise requires, the following words and phrases shall have the respective meanings set forth below for all purposes of this Agreement.  In the event of any conflict between a definition
      appearing below and any other 2020-A Basic Document, the definition appearing below shall control for purposes of this Agreement.

     

    “2020-A Servicing Supplement” means the 2020-A Servicing Supplement, dated as of January 1, 2020, to the Basic Servicing Agreement, among the Servicer, MBFS USA, as Lender, Daimler Trust, as
      titling trust, and Daimler Title Co., as collateral agent.

     

    “Annual Fee” has the meaning stated in Section 4.03(a).

     

    “Annual Period” means each annual period commencing on the 2020-A Closing Date, in the case of the first such period, and otherwise on the most recent anniversary of the 2020-A Closing Date and
      ending on the next anniversary of the 2020-A Closing Date.

     

    “ARR Indemnified Person” means the Asset Representations Reviewer and its officers, directors, employees and agents.

     

    
      
        

    

    
    “Basic Collateral Agency Agreement” means the Amended and Restated Basic Collateral Agency Agreement, dated as of March 1, 2009, among Daimler Trust, the Administrative Agent, Daimler Title Co.,
      as collateral agent, and MBFS USA, as lender and as servicer.

     

    “Confidential Information” means oral, written and electronic materials (irrespective of its source or form of communication) furnished before, on or after the date of this Agreement to the Asset
      Representations Reviewer for the purposes contemplated by this Agreement, including (i) lists of Review Assets and any related Review Materials, (ii) origination and servicing guidelines, policies and procedures and form contracts and (iii) notes,
      analyses, compilations, studies or other documents or records prepared by the Servicer, which contain information supplied by or on behalf of the Servicer or its representatives; provided, that Confidential Information will not include information
      that (a) is or becomes generally available to the public other than as a result of disclosure by the Information Recipients, (b) was available to, or becomes available to, the Information Recipients on a non-confidential basis from a Person or entity
      other than the Issuer or the Servicer before its disclosure to the Information Recipients who, to the knowledge of the Information Recipient, is not bound by a confidentiality agreement with the Issuer or the Servicer and is not prohibited from
      transmitting the information to the Information Recipients, (c) is independently developed by the Information Recipients without the use of the Confidential Information, as shown by the Information Recipients’ files and records or other evidence in
      the Information Recipients’ possession or (d) the Issuer or the Servicer provides permission to the applicable Information Recipients to release.

     

    “Eligible Representations” shall mean those representations identified within the “Tests” included in Schedule A.

     

    “Information Recipients” means the Asset Representations Reviewer and its officers, directors, employees, agents, representatives or affiliates, including legal counsel.

     

    “Issuer PII” means PII furnished by the Issuer, the Servicer or their respective Affiliates to the Asset Representations Reviewer and PII developed or otherwise collected or acquired by the Asset
      Representations Reviewer in performing its obligations under this Agreement.

     

    “Personally Identifiable Information” or “PII” means information in any format about an identifiable individual, including name, address, phone number, e-mail address, account number(s),
      identification number(s), any other actual or assigned attribute associated with or identifiable to an individual and any information that when used separately or in combination with other information could identify an individual.

     

    “Review” means the completion by the Asset Representations Reviewer of the procedures listed under “Tests” in Schedule A for each Review Asset as described in Section 3.03.

     

    “Review Assets” means those 2020-A Leases and 2020-A Leased Vehicles identified by the Servicer as requiring a Review by the Asset Representations Reviewer following receipt of a Review Notice
      according to Section 3.01.

     

    “Review Fee” has the meaning stated in Section 4.03(b).

     

    
      2

      
        

    

    “Review Materials” means the documents, data, and other information required for each “Test” in Schedule A.

     

    “Review Notice” means a notice delivered to the Asset Representations Reviewer by the Indenture Trustee pursuant to Section 7.02 of the Indenture.

     

    “Review Report” means the report prepared and delivered by the Asset Representations Reviewer pursuant to Section 3.04, which will, among other things, (i) indicate for each Review Asset whether
      there was a Test Pass, Test Fail or Test Complete for each related Test, (ii) include, for each Test Fail or Test Complete, the related reason for such Test Fail or Test Complete, including (for example) whether the Review Asset was a Test Fail as a
      result of missing or incomplete Review Materials and (iii) contain a summary of the Review results to be included in the Issuer’s Form 10-D report for the Collection Period in which the Review Report is received.

     

    “Test Complete” has the meaning stated in Section 3.03(c).

     

    “Test Fail” has the meaning stated in Section 3.03(a).

     

    “Test Pass” has the meaning stated in Section 3.03(a).

     

    “Tests” mean the procedures listed in Schedule A, as applied to the process described in Section 3.03.

     

    
      3

      
        

    

    ARTICLE TWO

      

      ENGAGEMENT; ACCEPTANCE

     

    Section 2.01.  Engagement; Acceptance.  The Issuer hereby engages Clayton Fixed Income Services LLC to act as the Asset Representations Reviewer for the Issuer.  Clayton Fixed Income Services LLC
      accepts the engagement and agrees to perform the obligations of the Asset Representations Reviewer on the terms stated in this Agreement.

     

    Section 2.02.  Confirmation of Status.  The parties confirm that the Asset Representations Reviewer is not responsible for (i) reviewing the 2020-A Leases and 2020-A Leased Vehicles for
      compliance with the representations and warranties under the 2020-A Servicing Supplement, except as otherwise described in this Agreement, or (ii) determining whether noncompliance with the representations or warranties constitutes a breach of the
      2020-A Servicing Supplement.

     

    ARTICLE THREE

      

      ASSET REPRESENTATIONS REVIEW PROCESS

     

    Section 3.01.  Review Notices and Identification of Review Assets.  On receipt of a Review Notice from the Indenture Trustee pursuant to Section 7.02 of the Indenture, the Asset Representations
      Reviewer will start a Review.  Once a Review Notice has been issued, the Servicer will provide the list of Review Assets to the Asset Representations Reviewer within ten Business Days.

     

    The Asset Representations Reviewer will not be obligated to start a Review until a Review Notice and the related list of Review Assets is received.  The Asset Representations Reviewer is not obligated to
      verify (i) whether the Indenture Trustee properly determined that a Review Notice was required or (ii) the accuracy or completeness of the list of Review Assets provided by the Servicer.

     

    Section 3.02.  Review Materials.

     

    (a)            Access to Review Materials.  Within 60 days of
        the delivery of a Review Notice, the Servicer will provide the Asset Representations Reviewer with access to the Review Materials for all Review Assets in one or more of the following ways: (i) by providing access to the Servicer’s systems, either
        remotely or at an office of the Servicer, (ii) by electronic posting to a password-protected website to which the Asset Representations Reviewer has access, (iii) by providing originals or photocopies at an office of the Servicer or (iv) in another
        manner agreed by the Servicer and the Asset Representations Reviewer.  The Servicer may redact or remove Personally Identifiable Information from the Review Materials without changing the meaning or usefulness of the Review Materials.  The Asset
        Representations Reviewer shall be entitled to rely in good faith, without independent investigation or verification, that the Review Materials are accurate and complete in all material respects, and not misleading in any material respect.

     

    
      4

      
        

    

    (b)            Missing or Insufficient Review Materials.  The
        Asset Representations Reviewer will review the Review Materials to determine if any Review Materials are missing or insufficient for the Asset Representations Reviewer to perform any Test.  If the Asset Representations Reviewer determines any
        missing or insufficient Review Materials, the Asset Representations Reviewer will notify the Servicer promptly, and in any event no less than 30 days before completing the Review.  The Servicer will have 60 days to give the Asset Representations
        Reviewer access to the missing Review Materials or other documents or information to correct the insufficiency.  If the missing Review Materials or such other documents or information have not been provided by the Servicer within 60 days, the
        related Review Report will report a Test Fail for each Test that requires use of the missing or insufficient Review Materials.

     

    Section 3.03.  Performance of Reviews.

     

    (a)            Test Procedures.  For a Review, the Asset
        Representations Reviewer will perform, for each Review Asset, the Tests for each Eligible Representation.  In the course of its review, the Asset Representations Reviewer will use the Review Materials listed in Schedule A.  For each Test and Review
        Asset, the Asset Representations Reviewer will determine if the Test has been satisfied (a “Test Pass”) or if the Test has not been satisfied (a “Test Fail”).

     

    (b)            Review Period.  The Asset Representations
        Reviewer will complete the Review within 60 days of receiving access to the Review Materials.  If, however, additional Review Materials are provided to the Asset Representations Reviewer as described in Section 3.02(b), the Review period will be
        extended for an additional 30 days.

     

    (c)            Completion of Review for Certain Review Assets. 
        Following the delivery of the list of the Review Assets and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Asset has been paid in full by the
        related Lessee or purchased from the Issuer in accordance with the terms of the 2020-A Servicing Agreement.  On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of the related Review Asset, and the
        Review of such Review Assets will be considered complete (a “Test Complete”).  In this case, the related Review Report will indicate a Test Complete for such Review Asset and the related reason.

     

    (d)            Duplicative Tests.  If the same Test is required
        for more than one representation and warranty, the Asset Representations Reviewer will only perform the Test once for each Review Asset, but will report the results of the Test for each applicable representation and warranty on the Review Report.

     

    (e)            Termination of Review.  If a Review is in process
        and the Notes will be paid in full on the next Payment Date, the Servicer will notify the Asset Representations Reviewer no less than five days before that Payment Date.  On receipt of such notice, the Asset Representations Reviewer will terminate
        the Review immediately and will not be obligated to deliver a Review Report.

     

    Section 3.04.  Review Report.  Within five Business Days after the end of the applicable Review period under Section 3.03(b), the Asset Representations Reviewer will deliver to the Issuer, the
      Servicer and the Indenture Trustee a Review Report.  The Asset Representations Reviewer will ensure that the Review Report does not contain any Personally Identifiable Information.  On reasonable request of the Servicer, the Asset Representations
      Reviewer will provide additional details on the Test results.

     

    
      5

      
        

    

    Section 3.05.  Review Representatives.

     

    (a)            Servicer Representative.  The Servicer will
        designate one or more representatives who will be available to assist the Asset Representations Reviewer in performing the Review, including responding to requests and answering questions from the Asset Representations Reviewer about access to
        Review Materials on the Servicer’s originations, leases or other systems, obtaining missing or insufficient Review Materials and/or providing clarification of any Review Materials or Tests.

     

    (b)            Asset Representations Review Representative.  The
        Asset Representations Reviewer will designate one or more representatives who will be available to the Issuer, the Servicer and the Administrator during the performance of a Review.

     

    (c)            Questions About Review.  The Asset
        Representations Reviewer will make appropriate personnel available to respond in writing to written questions or requests for clarification of any Review Report from the Indenture Trustee or the Servicer until the earlier of (i) the payment in full
        of the Notes and (ii) one year after the delivery of the Review Report.  The Asset Representations Reviewer will not be obligated to respond to questions or requests for clarification from Noteholders or any other Person and will direct such
        Persons to submit written questions or requests to the Servicer.

     

    Section 3.06.  Dispute Resolution.  If a Review Asset that was the subject of a Review becomes the subject of a dispute resolution proceeding under Section 3.11 of the 2020-A Servicing
      Supplement, the Asset Representations Reviewer will participate in the dispute resolution proceeding on request of a party to the proceeding.  The reasonable out-of-pocket expenses of the Asset Representations Reviewer for its participation in any
      dispute resolution proceeding will be considered expenses of the requesting party for the dispute resolution and will be paid, in the case of (i) an arbitration, by a party to the dispute resolution as determined by the arbitrator for the dispute
      resolution, and (ii) a mediation, as the parties shall mutually determine, in each case according to Section 3.11 of the 2020-A Servicing Supplement.  If not paid by a party to the dispute resolution, the expenses will be reimbursed by the Issuer
      pursuant to Section 4.03(d).

     

    Section 3.07.  Limitations on Review Obligations.

     

    (a)            Review Process Limitations.  The Asset
        Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger has occurred or whether the required percentage of Noteholders has voted to direct a Review under the Indenture; (ii) to determine which 2020-A Leases
        and 2020-A Leased Vehicles are subject to a Review, (iii) to obtain or confirm the validity of the Review Materials, (iv) to obtain missing or insufficient Review Materials, (v) to take any action or cause any other party to take any action under
        any of the 2020-A Basic Documents to enforce any remedies for breaches of representations or warranties about the Eligible Representations, (vi) to determine the reason for the delinquency of any Review Asset, the creditworthiness of any Lessee,
        the overall quality of any Review Asset or the compliance by the Servicer with its covenants with respect to the servicing of such Review Asset, or (vii) to establish cause, materiality or recourse for any failed Test.

     

    
      6

      
        

    

    (b)            Testing Procedure Limitations.  The Asset
        Representations Reviewer will only be required to perform the Tests listed under Schedule A, and will not be obligated to perform additional procedures on any Review Asset or to provide any information other than a Review Report.  However, the
        Asset Representations Reviewer may provide additional information in a Review Report about any Review Asset that it determines in good faith to be material to the Review.

     

    ARTICLE FOUR

      

      ASSET REPRESENTATIONS REVIEWER

     

    Section 4.01.  Representations and Warranties of the Asset Representations Reviewer.  The Asset Representations Reviewer hereby makes the following representations and warranties as of the 2020-A
      Closing Date:

     

    (a)              Organization and Qualification.  The Asset
        Representations Reviewer is duly organized and validly existing as a limited liability company in good standing under the laws of State of Delaware.  The Asset Representations Reviewer is qualified as a foreign limited liability company in good
        standing and has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of its properties or the conduct of its activities requires the qualification, license or approval, unless the failure to obtain the
        qualifications, licenses or approvals would not reasonably be expected to have a material adverse effect on the Asset Representations Reviewer’s ability to perform its obligations under this Agreement.

     

    (b)              Power, Authority and Enforceability.  The
        Asset Representations Reviewer has the power and authority to execute, deliver and perform its obligations under this Agreement.  The Asset Representations Reviewer has authorized the execution, delivery and performance of this Agreement.  This
        Agreement is the legal, valid and binding obligation of the Asset Representations Reviewer enforceable against the Asset Representations Reviewer, except as enforcement may be limited by insolvency, bankruptcy, reorganization or other laws relating
        to the enforcement of creditors’ rights or by general equitable principles.

     

    (c)               No Conflicts and No Violation.  The
        completion of the transactions  contemplated by this Agreement and the performance of the Asset Representations Reviewer’s obligations under this Agreement will not (i) conflict with, or constitute a breach or default under, any indenture,
        mortgage, deed of trust, loan agreement, guarantee or similar document under which the Asset Representations Reviewer is a debtor or guarantor, (ii) result in the creation or imposition of a Lien on the properties or assets of the Asset
        Representations Reviewer under the terms of any indenture, mortgage, deed of trust, loan agreement, guarantee or similar document, (iii) violate the organizational documents of the Asset Representations Reviewer or (iv) violate a law or, to the
        Asset Representations Reviewer’s knowledge, an order, rule or regulation of a federal or State court, regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Asset Representations Reviewer or its
        properties that applies to the Asset Representations Reviewer, which, in each case, would reasonably be expected to have a material adverse effect on the Asset Representations Reviewer’s ability to perform its obligations under this Agreement.

     

    
      7

      
        

    

    (d)               No Proceedings.  To the Asset
        Representations Reviewer’s knowledge, there are no proceedings or investigations pending or threatened in writing before a federal or State court, regulatory body, administrative agency or other governmental instrumentality having jurisdiction over
        the Asset Representations Reviewer or its properties (i) asserting the invalidity of this Agreement, (ii) seeking to prevent the completion of the transactions contemplated by this Agreement or (iii) seeking any determination or ruling that would
        reasonably be expected to have a material adverse effect on the Asset Representations Reviewer’s ability to perform its obligations under, or the validity or enforceability of, this Agreement.

     

    (e)               Eligibility.  The Asset Representations
        Reviewer meets the eligibility requirements in Section 5.01.

     

    Section 4.02.  Covenants.  The Asset Representations Reviewer covenants and agrees that:

     

    (a)               Eligibility.  It will notify the Issuer and
        the Servicer promptly if it no longer meets, or reasonably expects that it will no longer meet, the eligibility requirements in Section 5.01.

     

    (b)               Review Systems; Personnel.  It will maintain
        business process management and/or other systems necessary to ensure that it can perform each Test and, on execution of this Agreement, will load each Test into these systems.  The Asset Representations Reviewer will ensure that these systems allow
        for each Review Asset and the related Review Materials to be individually tracked and stored as contemplated by this Agreement.  The Asset Representations Reviewer will maintain adequate staff that is properly trained to conduct Reviews as required
        by this Agreement.

     

    (c)               Maintenance of Review Materials.  It will
        maintain copies of any Review Materials, Review Reports and other documents relating to a Review, including internal correspondence and work papers, for a period of at least two years after any termination of this Agreement.

     

    Section 4.03.  Fees and Expenses.

     

    (a)            Annual Fee.  As compensation for its activities
        hereunder, the Asset Representations Reviewer shall be entitled to receive an annual fee (the “Annual Fee”) with respect to each Annual Period prior to the termination of the Issuer, in an amount equal to $5,000.  The Annual Fee will be paid by the
        Issuer on the 2020-A Closing Date and on each anniversary of the 2020-A Closing Date until this Agreement is terminated; provided, however, that if the Asset Representations Reviewer resigns or is removed in accordance with Section 5.02, then the
        Asset Representations Reviewer shall refund to the Issuer a portion of the Annual Fee attributable to the portion of the annual period during which the Asset Representations Reviewer will no longer act as the Asset Representations Reviewer,
        assuming for purposes of such calculation that the Annual Fee for each day during the annual period is an amount equal to the Annual Fee divided by 365.

     

    
      8

      
        

    

    (b)            Review Fee.  Following the completion of a Review
        and the delivery of the related Review Report pursuant to Section 3.04, or the termination of a Review according to Section 3.03(e), and the delivery to the Indenture Trustee and the Servicer of a detailed invoice, the Asset Representations
        Reviewer will be entitled to a fee of $175 for each Review Asset for which the Review was started (the “Review Fee”), payable by the Issuer.  No Review Fee will be charged for any Review Asset which was included in a prior Review or for which no
        Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Review according to Section 3.03(c) or due to missing or insufficient Review Materials under Section 3.02(b).  If the detailed invoice is
        submitted on or before the first day of a month, the Review Fee will be paid by the Issuer according to the priority of payments in the Indenture on the Payment Date in that month.  If a Review is terminated according to Section 3.03(e), however,
        the Asset Representations Reviewer must submit its invoice for the Review Fee for the terminated Review no later than ten Business Days before the final Payment Date to be reimbursed on such final Payment Date.

     

    (c)            Reimbursement of Travel Expenses.  If the
        Servicer provides access to the Review Materials at one of its properties, the Issuer will reimburse the Asset Representations Reviewer for its reasonable travel expenses incurred in connection with the Review upon receipt of a detailed invoice.

     

    (d)            Dispute Resolution Expenses.  If the Asset
        Representations Reviewer participates in a dispute resolution proceeding under Section 3.06 and its reasonable out-of-pocket expenses for participating in the proceeding are not paid by a party to the dispute resolution within 90 days after the end
        of the proceeding, the Issuer will reimburse the Asset Representations Reviewer for such expenses upon receipt of a detailed invoice.

     

    (e)            Payment of Invoices.  When applicable pursuant to
        this Section, the fees and expenses of the Asset Representations Reviewer are to be paid via the priority of payments described in Section 5.04(b) or 8.03 of the Indenture, as applicable.  The Asset Representations Reviewer will issue invoices to
        the Issuer at the notices addresses set forth in Section 11.04 of the Indenture and Issuer shall pay all invoices submitted by the Asset Representations Reviewer within 30 days following the receipt by the Issuer, in accordance with the priority of
        payments described in Section 5.04(b) or 8.03 of the Indenture, as applicable.  The Administrator shall promptly pay to the Asset Representations Reviewer the amount of any fees, expenses and indemnification amounts not otherwise paid or reimbursed
        by the Issuer on any Payment Date in accordance with the terms of Section 5.04(b) or 8.03 of the Indenture, as applicable; provided that the Asset Representations Reviewer shall promptly reimburse the Administrator for any such amounts to the
        extent it subsequently receives payment or reimbursement in respect thereof from the Issuer in accordance with the terms of such Sections.  For the avoidance of doubt, the aggregate limit on the Asset Representations Reviewer fees, expenses and
        indemnities specified in Section 8.03 of the Indenture shall not apply to payments made or to be made by the Administrator to the Asset Representations Reviewer pursuant to this subsection.

     

    
      9

      
        

    

    Section 4.04.  Limitation on Liability.  The Asset Representations Reviewer will not be liable to any Person for any action taken, or not taken, in good faith under this Agreement or for errors
      in judgment.  The Asset Representations Reviewer will, however, be liable for its willful misconduct, bad faith or negligence in performing its obligations under this Agreement, but in no event will it be liable for special, indirect or consequential
      losses or damages (including lost profit), even if it has been advised of the likelihood of the loss or damage and regardless of the form of action.

     

    Section 4.05.  Indemnification by Asset Representations Reviewer.  The Asset Representations Reviewer will indemnify each of the Issuer, the Seller, the Servicer, the Administrator, the Owner
      Trustee, the Indenture Trustee and their respective directors, officers, employees and agents for all fees, expenses, losses, damages and liabilities, including any legal fees or expenses incurred in connection with the enforcement of the Asset
      Representations Reviewer’s indemnification or other obligations hereunder, resulting from the Asset Representations Reviewer’s (i) willful misconduct, bad faith or negligence in performing its obligations under this Agreement and (ii) breach of any
      of its representations or warranties in this Agreement.  The Asset Representations Reviewer’s obligations under this Section will survive the termination of this Agreement, the termination of the Issuer and the resignation or removal of the Asset
      Representations Reviewer.

     

    Section 4.06.  Indemnification of Asset Representations Reviewer.

     

    (a)            Indemnification.  The Issuer will, or will cause
        the Administrator to, indemnify each ARR Indemnified Person for all costs, expenses, losses, damages and liabilities resulting from the performance of its obligations under this Agreement (including the fees and expenses of defending itself against
        any loss, damage or liability), but excluding any cost, expense, loss, damage or liability resulting from the Asset Representations Reviewer’s (i) willful misconduct, bad faith or negligence or (ii) breach of any of its representations or
        warranties in this Agreement.

     

    (b)            Proceedings.  Promptly on receipt by an ARR
        Indemnified Person of notice of a Proceeding against it, such ARR Indemnified Person will, if a claim is to be made under Section 4.06(a), notify the Issuer and the Administrator of the Proceeding.  The Issuer and/or the Administrator may
        participate in and assume the defense and settlement of a Proceeding at its expense.  If the Issuer or the Administrator notifies an ARR Indemnified Person of its intention to assume the defense of the Proceeding with counsel reasonably
        satisfactory to such ARR Indemnified Person, and so long as the Issuer, the Servicer or the Administrator assumes the defense of the Proceeding in a manner reasonably satisfactory to such ARR Indemnified Person, the Issuer and the Administrator
        will not be liable for fees and expenses of counsel to such ARR Indemnified Person unless there is a conflict between the interests of the Issuer or the Administrator, as applicable, and an ARR Indemnified Person.  If there is a conflict, the
        Issuer, the Servicer or the Administrator will pay for the reasonable fees and expenses of separate counsel to the ARR Indemnified Person.  No settlement of a Proceeding may be made without the approval of the Issuer and the Administrator and the
        ARR Indemnified Person, which approval will not be unreasonably withheld, conditioned or delayed.

     

    
      10

      
        

    

    (c)            Survival of Obligations.  The Issuer’s and the
        Administrator’s obligations under this Section will survive the resignation or removal of the Asset Representations Reviewer and the termination of this Agreement.

     

    (d)            Repayment.  If the Issuer or the Administrator
        makes any payment under this Section and an ARR Indemnified Person later collects any of the amounts for which the payments were made to it from others, such ARR Indemnified Person will promptly repay the amounts to the Issuer or the Administrator,
        as applicable.

     

    Section 4.07.  Inspections of Asset Representations Reviewer.  The Asset Representations Reviewer agrees that, with reasonable advance notice not more than once during any year, it will permit
      authorized representatives of the Issuer, the Servicer or the Administrator, during the Asset Representations Reviewer’s normal business hours, to examine and review its books of account, records, reports and other documents and materials relating to
      (a) the performance of its obligations under this Agreement, (b) payments of its fees and expenses for its performance of its obligations under this Agreement and (c) a claim made by it under this Agreement.  In addition, the Asset Representations
      Reviewer will permit representatives of the Issuer, the Servicer or the Administrator to make copies and extracts of any of those documents and to discuss them with the Asset Representations Reviewer’s officers and employees.  Each of the Issuer, the
      Servicer and the Administrator will, and will cause its authorized representatives to, hold in confidence the foregoing information except if disclosure may be required by Applicable Law or if the Issuer, the Servicer or the Administrator reasonably
      determines that it is required to make the disclosure under this Agreement or the other 2020-A Basic Documents.  The Asset Representations Reviewer will maintain all relevant books, records, reports and other documents and materials for a period of
      at least two years after the termination of its obligations under this Agreement.

     

    Section 4.08.  Delegation of Obligations.  The Asset Representations Reviewer may not delegate or subcontract its obligations under this Agreement to any Person without the prior written consent
      of the Issuer and the Servicer.

     

    Section 4.09.  Confidential Information.

     

    (a)            Treatment.  The Asset Representations Reviewer
        agrees to hold and treat Confidential Information given to it under this Agreement in confidence and under the terms and conditions of this Section, and will implement and maintain safeguards to further assure the confidentiality of the
        Confidential Information.  The Confidential Information will not, without the prior written consent of the Issuer and the Servicer, be disclosed or used by any Information Recipient other than for the purposes of performing Reviews of Review Assets
        or performing its obligations under this Agreement.  The Asset Representations Reviewer agrees that it will not, and will cause its Affiliates to not, (i) purchase or sell securities issued by the Servicer or its Affiliates or special purpose
        entities on the basis of Confidential Information or (ii) use the Confidential Information for the preparation of research reports, newsletters or other publications or similar communications.

     

    (b)            Protection.  The Asset Representations Reviewer
        will take reasonable measures to protect the secrecy of and avoid disclosure and unauthorized use of Confidential Information, including those measures that it takes to protect its own confidential information and not less than a reasonable
        standard of care.  The Asset Representations Reviewer acknowledges that Personally Identifiable Information is also subject to the additional requirements in Section 4.10.

     

    
      11

      
        

    

    (c)            Disclosure.  If the Asset Representations
        Reviewer is required by applicable law, regulation, rule or order issued by a Governmental Authority to disclose part of the Confidential Information, it may disclose such Confidential Information.  Before any such disclosure, however, the Asset
        Representations Reviewer, if permitted by law, regulation, rule or order, will use its reasonable efforts to provide the Issuer and the Servicer with notice of the requirement and will cooperate, at the Servicer’s expense, in the Issuer’s and the
        Servicer’s pursuit of a proper protective order or other relief from the disclosure of such Confidential Information.  If the Issuer and the Servicer are unable to obtain a protective order or other proper remedy by the date that the information is
        required to be disclosed, the Asset Representations Reviewer will disclose only that part of the Confidential Information that it is advised by its legal counsel it is legally required to disclose.

     

    (d)            Responsibility for Information Recipients.  The
        Asset Representations Reviewer will be responsible for a breach of this Section by its Information Recipients.

     

    (e)            Violation.  The Asset Representations Reviewer
        agrees that a violation of this Agreement may cause irreparable injury to the Issuer and the Servicer and the Issuer and the Servicer may seek injunctive relief in addition to legal remedies.  If an action is initiated by the Issuer or the Servicer
        to enforce this Section, the prevailing party will be reimbursed for its fees and expenses, including reasonable attorney’s fees, incurred for the enforcement.

     

    Section 4.10.  Personally Identifiable Information.

     

    (a)            Use of Issuer PII.  The Issuer does not grant the
        Asset Representations Reviewer any rights to Issuer PII except as otherwise provided in this Agreement.  The Asset Representations Reviewer will use Issuer PII only to perform its obligations under this Agreement or as specifically directed in
        writing by the Issuer and will only reproduce Issuer PII to the extent necessary for these purposes.  The Asset Representations Reviewer must comply with all laws applicable to PII, Issuer PII and the Asset Representations Reviewer’s business,
        including any legally required codes of conduct, including those relating to privacy, security and data protection.  The Asset Representations Reviewer will protect and secure Issuer PII.  The Asset Representations Reviewer will implement privacy
        or data protection policies and procedures that comply with applicable law and this Agreement.  The Asset Representations Reviewer will implement and maintain reasonable and appropriate practices, procedures and systems, including administrative,
        technical and physical safeguards to (i) protect the security, confidentiality and integrity of Issuer PII, (ii) ensure against anticipated threats or hazards to the security or integrity of Issuer PII, (iii) protect against unauthorized access to
        or use of Issuer PII and (iv) otherwise comply with its obligations under this Agreement.  These safeguards include a written data security plan, employee training, information access controls, restricted disclosures, systems protections (e.g.,
        intrusion protection, data storage protection and data transmission protection) and physical security measures.

     

    
      12

      
        

    

    (b)            Additional Limitations.  In addition to the use
        and protection requirements described in Section 4.10(a), the Asset Representations Reviewer’s disclosure of Issuer PII is also subject to the following requirements:

     

    (i)        The Asset Representations Reviewer will not disclose Issuer
        PII to its personnel or allow its personnel access to Issuer PII except (A) for the Asset Representations Reviewer personnel who require Issuer PII to perform a Review, (B) with the prior consent of the Issuer or (C) as required by applicable law. 
        When permitted, the disclosure of or access to Issuer PII will be limited to the specific information necessary for the individual to complete the assigned task.  The Asset Representations Reviewer will inform personnel with access to Issuer PII of
        the confidentiality requirements in this Agreement and train its personnel with access to Issuer PII on the proper use and protection of Issuer PII.

     

    (ii)      The Asset Representations Reviewer will not
        sell, disclose, provide or exchange Issuer PII with or to any third party without the prior consent of the Issuer.

     

    (c)            Notice of Breach.  The Asset Representations
        Reviewer will notify the Issuer promptly in the event of an actual or reasonably suspected security breach, unauthorized access, misappropriation or other compromise of the security, confidentiality or integrity of Issuer PII and, where applicable,
        immediately take action to prevent any further breach.

     

    (d)            Return or Disposal of Issuer PII.  Except where
        return or disposal is prohibited by applicable law, promptly on the earlier of the completion of the Review or the request of the Issuer, all Issuer PII in any medium in the Asset Representations Reviewer’s possession or under its control will be
        (i) destroyed in a manner that prevents its recovery or restoration or (ii) if so directed by the Issuer, returned to the Issuer without the Asset Representations Reviewer retaining any actual or recoverable copies, in both cases, without charge to
        the Issuer.  Where the Asset Representations Reviewer retains Issuer PII, the Asset Representations Reviewer will limit the Asset Representations Reviewer’s further use or disclosure of Issuer PII to that required by applicable law.

     

    (e)            Compliance; Modification.  The Asset
        Representations Reviewer will cooperate with and provide information to the Issuer regarding the Asset Representations Reviewer’s compliance with this Section.  The Asset Representations Reviewer and the Issuer agree to modify this Section as
        necessary for either party to comply with applicable law.

     

    (f)            Audit of Asset Representations Reviewer.  The
        Asset Representations Reviewer will permit the Issuer and its authorized representatives to audit the Asset Representations Reviewer’s compliance with this Section during the Asset Representations Reviewer’s normal business hours on reasonable
        advance notice to the Asset Representations Reviewer, and not more than once during any year unless circumstances necessitate additional audits.  The Issuer agrees to make reasonable efforts to schedule any audit described in this Section with the
        inspections described in Section 4.07.  The Asset Representations Reviewer will also permit the Issuer during normal business hours on reasonable advance notice to audit any service providers used by the Asset Representations Reviewer to fulfill
        the Asset Representations Reviewer’s obligations under this Agreement.

     

    
      13

      
        

    

    (g)            Affiliates and Third Parties.  If the Asset
        Representations Reviewer processes the PII of the Issuer’s Affiliates or a third party when performing a Review, and if such Affiliate or third party is identified to the Asset Representations Reviewer, such Affiliate or third party will be an
        intended third-party beneficiary of this Section, and this Agreement is intended to benefit the Affiliate or third party.  The Affiliate or third party may enforce the PII related terms of this Section against the Asset Representations Reviewer as
        if each were a signatory to this Agreement.

     

    ARTICLE FIVE

      

      REMOVAL, RESIGNATION

     

    Section 5.01.  Eligibility of the Asset Representations Reviewer.  The Asset Representations Reviewer must be a Person who (i) is not Affiliated with the Issuer, the Depositor, the Servicer, the
      Indenture Trustee, the Owner Trustee or any of their Affiliates and (ii) was not, and is not, Affiliated with a Person that was engaged by the Issuer, the Depositor, the Servicer or any Underwriter to perform any due diligence on the 2020-A Leases
      and 2020-A Leased Vehicles prior to the 2020-A Closing Date.

     

    Section 5.02.  Resignation and Removal of Asset Representations Reviewer.

     

    (a)            No Resignation.  The Asset Representations
        Reviewer will not resign as Asset Representations Reviewer unless it determines it is legally unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of its obligations
        under this Agreement permitted under applicable law.  In such event, the Asset Representations Reviewer will deliver a notice of its resignation to the Issuer and the Servicer, together with an Opinion of Counsel supporting its determination.

     

    (b)            Removal.  If any of the following events occur,
        the Issuer, by notice to the Asset Representations Reviewer, may remove the Asset Representations Reviewer and terminate its rights and obligations under this Agreement:

     

    (i)        the Asset Representations Reviewer no
        longer meets the eligibility requirements in Section 5.01;

     

    (ii)      the Asset Representations Reviewer breaches
        of any of its representations, warranties, covenants or obligations in this Agreement; or

     

    (iii)    an Insolvency Event of the Asset
        Representations Reviewer occurs.

     

    (c)            Notice of Resignation or Removal.  The Issuer
        will notify the Servicer and the Indenture Trustee of any resignation or removal of the Asset Representations Reviewer.

     

    (d)            Continue to Perform After Resignation or Removal. 

        The Asset Representations Reviewer will continue to perform its obligations under this Agreement until a successor Asset Representations Reviewer has accepted its engagement according to Section 5.03(b).

     

    
      14

      
        

    

    Section 5.03.  Successor Asset Representations Reviewer.

     

    (a)            Engagement of Successor Asset Representations
          Reviewer.  Following the resignation or removal of the Asset Representations Reviewer, the Issuer will engage a successor Asset Representations Reviewer who meets the eligibility requirements of Section 5.01.

     

    (b)            Effectiveness of Resignation or Removal.  No resignation or removal
        of the Asset Representations Reviewer will be effective until a successor Asset Representations Reviewer has executed and delivered to the Issuer and the Servicer an agreement accepting its engagement and agreeing to perform the obligations of the
        Asset Representations Reviewer under this Agreement or entering into a new agreement with the Issuer on substantially the same terms as this Agreement.

     

    (c)            Transition and Expenses.  If the Asset
        Representations Reviewer resigns or is removed, it will cooperate with the Issuer and the Servicer and take all actions reasonably requested to assist the Issuer in making an orderly transition of its rights and obligations under this Agreement to
        the successor Asset Representations Reviewer.  The Asset Representations Reviewer will pay the reasonable expenses of transitioning its obligations under this Agreement and preparing the successor Asset Representations Reviewer to take on the
        obligations on receipt of an invoice with reasonable detail of the expenses from the Issuer and the Servicer or the successor Asset Representations Reviewer.

     

    
      15

      
        

    

    Section 5.04.  Merger, Consolidation or Succession.  Any Person (i) into which the Asset Representations Reviewer is merged or consolidated, (ii) resulting from any merger or consolidation to
      which the Asset Representations Reviewer is a party or (iii) succeeding to the business of the Asset Representations Reviewer, if that Person meets the eligibility requirements in Section 5.01, will be the successor to the Asset Representations
      Reviewer under this Agreement.  Such Person will execute and deliver to the Issuer, the Servicer and the Administrator an agreement to assume the Asset Representations Reviewer’s obligations under this Agreement (unless the assumption happens by
      operation of law).

     

    ARTICLE SIX

      

      OTHER AGREEMENTS

     

    Section 6.01.  Independence of the Asset Representations Reviewer.  The Asset Representations Reviewer will be an independent contractor and will not be subject to the supervision of the Issuer
      for the manner in which it accomplishes the performance of its obligations under this Agreement.  Unless expressly authorized by the Issuer, the Asset Representations Reviewer will have no authority to act for or represent the Issuer and will not be
      considered an agent of the Issuer.  Nothing in this Agreement will make the Asset Representations Reviewer and the Issuer members of any partnership, joint venture or other separate entity or impose any liability as such on any of them.  For the
      avoidance of doubt, the Indenture Trustee will not be responsible for monitoring the performance by the Asset Representations Reviewer of its obligations under this Agreement.

     

    Section 6.02.  No Petition.  Each of the parties to this Agreement covenants and agrees that for a period of one year and one day (or, if longer, any applicable preference period) after payment
      in full of all Exchange Notes and all outstanding Securities, it will not institute against, or join any Person in instituting against, the Titling Trust, the Initial Beneficiary, the Issuer or the Transferor any bankruptcy, reorganization,
      arrangement, insolvency or liquidation Proceedings, or other Proceedings under any Insolvency Law in connection with any obligations relating to the 2020-A ABS Notes, the 2020-A Exchange Note or the 2020-A Basic Documents and agrees that it will not
      cooperate with or encourage others to institute any such Proceeding.

     

    Section 6.03.  Limitation of Liability of Owner Trustee.  It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by WTNA, not individually
      or personally but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it, (ii) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended
      not as personal representations, undertakings and agreements by WTNA but is made and intended for the purpose of binding only the Issuer, (iii) nothing herein contained shall be construed as creating any liability on WTNA, individually or personally,
      to perform any covenant either expressed or implied contained herein of the Issuer, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (iv) WTNA has not
      verified and has made no investigation as to the accuracy or completeness of any representations and warranties made by the Issuer in this Agreement and (v) under no circumstances shall WTNA be personally liable for the payment of any indebtedness or
      expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

     

    
      16

      
        

    

    Section 6.04.  Termination of Agreement.  This Agreement will terminate, except for the obligations under Section 4.05, on the earlier of (i) the payment in full of all outstanding Notes and the
      satisfaction and discharge of the Indenture and (ii) the date the Issuer is terminated under the Trust Agreement.

     

    ARTICLE SEVEN

      

      MISCELLANEOUS PROVISIONS

     

    Section 7.01.  Amendments.

     

    (a)            The parties may amend this Agreement:

     

    (i)        to clarify an ambiguity, correct an error
        or correct or supplement any term of this Agreement that may be defective or inconsistent with the other terms of this Agreement or to provide for, or facilitate the acceptance of this Agreement by, a successor Asset Representations Reviewer, in
        each case without the consent of the Noteholders or any other Person;

     

    (ii)      to add, change or eliminate terms of this
        Agreement, in each case without the consent of the Noteholders or any other Person, if the Administrator delivers an Officer’s Certificate to the Issuer, the Owner Trustee and the Indenture Trustee stating that the amendment will not have a
        material adverse effect on the Noteholders; or

     

    (iii)     to add, change or eliminate terms of this
        Agreement for which an Officer’s Certificate is not or cannot be delivered under Section 7.01(a)(ii), with the consent of the Majority Noteholders.

     

    (b)            Notwithstanding anything to the contrary in this
        Section, any amendment to this Agreement that affects the rights or the obligation of either the Indenture Trustee or the Owner Trustee will require the consent of the Indenture Trustee or the Owner Trustee, as applicable.

     

    Section 7.02.  Assignment; Benefit of Agreement; Third Party Beneficiaries.

     

    (a)            Assignment.  Except as stated in Section 5.04,
        this Agreement may not be assigned by the Asset Representations Reviewer without the consent of the Issuer and the Servicer.

     

    (b)            Benefit of Agreement; Third-Party Beneficiaries. 
        This Agreement is for the benefit of and will be binding on the parties and their permitted successors and assigns.  The Owner Trustee and the Indenture Trustee will be third-party beneficiaries of this Agreement and may enforce this Agreement
        against the Asset Representations Reviewer and the Servicer.  No other Person will have any right or obligation under this Agreement.

     

    
      17

      
        

    

    Section 7.03.  Notices.

     

    (a)            Notices to Parties.  Unless otherwise expressly
        specified or permitted by the terms hereof, all notices, requests, demands, consents, waivers or other communications to or from the parties to this Agreement will be in writing.  Notices, requests, demands, consents and other communications will
        be deemed to have been given and made, (i) upon delivery or, in the case of a letter mailed via registered first class mail, postage prepaid, three days after deposit in the mail and (ii) in the case of (a) a facsimile, when receipt is confirmed by
        telephone or by reply e-mail or reply facsimile from the recipient, (b) an e-mail, when receipt is confirmed by telephone or by reply e‐mail from the recipient and (c) an electronic posting to a password-protected website, upon printed confirmation
        of the recipient’s access to such password-protected website, or when notification of such electronic posting is confirmed in accordance with clauses (ii)(b) and (ii)(c) above.

     

    (b)            Notice Addresses.  Any notice, request, demand,
        consent, waiver or other communication will be addressed as stated in the 2020-A Administration Agreement or this  Agreement, as applicable, or to another address as a party may give by notice to the other parties.

     

    In the case of the Asset Representations Reviewer, all such notices, including Review Notices, shall be sent to:

     

    Via electronic mail to ARRNotices@clayton.com

     

    and to:

     

    Clayton Fixed Income Services LLC

    2638 South Falkenburg Road

    Riverview, Florida 33578

    Attn: SVP

    

    

    with a copy to:

     

    

    
      Covius Services, LLC

      720 S. Colorado Blvd, Suite 200

      Glendale, CO 80246

      Attention: Legal Department

      Email: legal@covius.com

      Telephone: (877) 516-8121

    

    

    

    In the case the Administrator or the Servicer, all such notices shall be sent to:

     

    Mercedes-Benz Financial Services USA LLC

    36455 Corporate Drive

    Farmington Hills, Michigan 48331

    Attention:  Steven C. Poling (e-mail: steven.c.poling@daimler.com)

    

    

    Section 7.04.  GOVERNING LAW.

     

    (a)            THIS AGREEMENT SHALL BE GOVERNED BY
        AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ANY OTHERWISE APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS AND
        REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

     

    
      18

      
        

    

    Section 7.05.  WAIVER OF JURY TRIAL.  EACH PARTY TO THIS AGREEMENT IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
        APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY ANY 2020-A BASIC DOCUMENT.

     

    Section 7.06.  No Waiver; Remedies.  No party’s failure or delay in exercising a power, right or remedy under this Agreement will operate as a waiver.  No single or partial exercise of a power,
      right or remedy will preclude any other or further exercise of the power, right or remedy or the exercise of any other power, right or remedy.  The powers, rights and remedies under this Agreement are in addition to any powers, rights and remedies
      under law.

     

    Section 7.07.  Severability.  If any one or more of the covenants, agreements, provisions or terms of this Agreement is held invalid, illegal or unenforceable, then such covenants, agreements,
      provisions or terms will be deemed severable from the remaining covenants, agreements, provisions and terms of this Agreement, and will in no way affect the validity, legality or enforceability of the other covenants, agreements, provisions and terms
      of this Agreement.

     

    Section 7.08.  Table of Contents and Headings.  The Table of Contents and the various headings in this Agreement are included for convenience only and will not affect the meaning or
      interpretation of any provision of this Agreement.

     

    Section 7.09.  Counterparts.  This Agreement may be executed in any number of counterparts, each of which will be an original, and all of which will together constitute one and the same
      instrument.

     

    
      19

      
        

    

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

     

     

    

    
      	 	
              MERCEDES-BENZ AUTO LEASE TRUST 2020-A,

            
	 	

            	
              as Issuer

            
	 	 
	 	
              By:

            	
              WILMINGTON TRUST, NATIONAL

            
	 	 	
              ASSOCIATION, not in its individual capacity, but

            
	 	 	solely as Owner Trustee
	 	 	 
	 	
              By:

            	/s/ Matthew Hollis

            
	 	 	
              Name: Matthew Hollis

            
	 	 	
              Title: Banking Officer

              

            
	 	 	 
	 	
              MERCEDES-BENZ FINANCIAL SERVICES USA LLC,

            
	 	 	
              as Servicer and Administrator

            
	 	 	 
	 	
              By:

            	/s/ Christopher Trainor

            
	 	 	
              Name: Christopher Trainor

            
	 	 	
              Title: Vice President

              

            
	 	 
	 	
              CLAYTON FIXED INCOME SERVICES LLC,

            
	 	 	
              as Asset Representations Reviewer

            
	 	 	 
	 	
              By:

            	/s/ Adam D. Nichols

            
	 	 	
              Name: Adam D. Nichols

            
	 	 	
              Title: CAO

              

            

    

     

    

    2020-A Asset Representation Review Agreement

    
       

      

    

    
      
        

    

    
    SCHEDULE A

     

    REPRESENTATIONS AND WARRANTIES, REVIEW MATERIALS AND TESTS

     

    Representation (1) - Origination

     

    The 2020-A Lease is a Stand-Alone Lease that was originated (a) by a Dealer, (b) on or after October 2015, (c) pursuant to an agreement which allows for recourse to the Dealer in the event of certain
      defects in the 2020-A Lease (but not for a default by the related Lessee) and (d) in substantial compliance with the Credit and Collection Policy.

     

    Review Materials

     

    
      
        	

              	-	
                Lease agreement

              

      

    

     

    Procedures to be Performed

     

    (i)       Confirm the lease agreement was signed by
        the Lessee and the Lessor

     

    (ii)     Confirm the lease agreement form number and
        revision date are on the List of Approved Contract Forms

     

    (iii)    Confirm the lease agreement is dated on or
        after October 2015

     

    (iv)     Confirm the dealer agreement contains
        provisions which allow for recourse to the Dealer in the event of certain defects in the Lease, outside of  default by the related Lessee

     

    (v)      Confirm there is no evidence the lease
        agreement is not in compliance with the Credit and Collection Policy

     

    (vi)     If section (i) through (v) are confirmed,
        then Test Pass

     

    Representation (2) - Leases

     

    The 2020-A Lease constitutes “tangible chattel paper” or “electronic chattel paper” within the meaning of Section 9-102 of the UCC.

     

    Review Materials

     

    
      
        	

              	-	
                Lease agreement

              

      

    

     

    
      
        	

              	-	
                Title documents

              

      

    

     

    Procedures to be Performed

     

    (i)        Confirm there is a signature under the
        appropriate Lessee, Co-lessee and Lessor signature lines within the lease agreement

     

    
      SA-1

      
        

    

    (ii)      Confirm the lease agreement reports a
        monetary obligation greater than zero

     

    (iii)     Confirm the assignment section of the
        lease agreement lists the  Titling Trust as the sole assignee

     

    (iv)     If sections (i) through (iii) are
        confirmed, then Test Pass

     

    Representation (3) – Leased Vehicle

     

    The related 2020-A Vehicle is a Mercedes-Benz passenger car or sport utility vehicle that was new at the time of the origination of the related 2020-A Lease and is not powered by a diesel engine.

     

    Review Materials

     

    
      
        	

              	-	
                Lease agreement

              

      

    

     

    Procedures to be Performed

     

    (i)        Confirm the vehicle description section of
        the lease agreement reports that the leased vehicle is a new vehicle

     

    (ii)      Confirm the vehicle description section of
        the lease agreement reports that the leased vehicle is a Mercedes-Benz passenger car, sport utility vehicle or a smart automobile and is not powered by a diesel engine

     

    (iii)     If sections (i) and (ii) are confirmed,
        then Test Pass

     

    Representation (4) – Certificate of Title and Lienholder

     

    Each 2020-A Vehicle was titled, or the Servicer has started procedures that will result in the 2020-A Vehicle being titled, in one of the 50 states of the United States or the District of Columbia and
      the Collateral Agent is or will be noted as lienholder of the 2020-A Vehicle (other than in Kansas, Missouri, Nebraska, Nevada or South Dakota) and such lien is a perfected first priority security interst.

     

    Review Materials

     

    
      
        	

              	-	
                Lease agreement

              

      

    

     

    
      
        	

              	-	
                Title documents

              

      

    

     

    
      
        	

              	-	
                Lease file

              

      

    

     

    Procedures to be Performed

     

    (i)        Confirm the title lists the Collateral
        Agent as the first priority lienholder or evidence of an application for such title is present

     

    
      SA-2

      
        

    

    (ii)      Confirm the Vehicle Identification Number
        (VIN) listed on the title matches the VIN number on the lease agreement

     

    (iii)    Confirm there is no evidence of any lien
        that would take priority over the Collateral Agent’s security interest

     

    (iv)     If sections (i) through (iii) are
        confirmed, then Test Pass

     

    Representation (5) - Lessee

     

    The related Lessee is a Person other than MBFS USA, any Affiliate thereof or a Governmental Authority and, at the time of origination of the 2020-A Lease, based on information provided by the Lessee, the
      Lessee is located in and has a billing address within a State.

     

    Review Materials

     

    
      
        	

              	-	
                Lease agreement

              

      

    

     

    Procedures to be Performed

     

    (i)        Confirm the Lessee is not reported as MBFS
        USA, an affiliate or a governmental authority

     

    (ii)      Confirm the Lessee’s address as reported on
        the lease agreement is located within the United States

     

    (iii)     If sections (i) and (ii) are confirmed,
        then Test Pass

     

    Representation (6) – Closed-End Lease; Payment in Dollars

     

    The 2020-A Lease is payable solely in Dollars in the United States and is a closed-end lease that provides for equal monthly payments by the Lessee, which scheduled payments, if made when due, fully
      amortize to an amount equal to the Booked Residual Value of the related 2020-A Vehicle based upon the related Contract Rate.

     

    Review Materials

     

    
      
        	

              	-	
                Lease agreement

              

      

    

     

    Procedures to be Performed

     

    (i)        Confirm the lease agreement represents a
        closed end lease

     

    (ii)      Confirm the lease agreement is denominated
        in US dollars

     

    (iii)    Confirm the monthly payments section of the
        lease agreement calls for level monthly payments over the entire lease term with the possible exception of the first and last payment

     

    
      SA-3

      
        

    

    (iv)     Calculate the product of the level monthly
        payment with the number of payments due over the lease term and confirm this amount fully amortizes to the Booked Residual Value of the related 2020-A Vehicle based upon the related Contract Rate

     

    (v)       If sections (i) through (iv) are confirmed,
        then Test Pass

     

    Representation (7) – One Original

     

    There is only one original executed copy or authoritative copy, as applicable, of the 2020-A Lease.  The Servicer, or its custodian, has possession or control of such original or authoritative copy, as
      applicable, which does not have any marks or notations indicating that it has been pledged, assigned or otherwise conveyed to any Person other than the Titling Trust.

     

    Review Materials

     

    
      
        	

              	-	
                Lease agreement

              

      

    

     

    Procedures to be Performed

     

    (i)        Confirm that the lease agreement is marked
        as the original copy or authoritative copy, as applicable

     

    (ii)      Confirm there is no evidence that the lease
        agreement has been pledged, assigned or otherwise conveyed to any Person other than the Titling Trust

     

    (iii)     If sections (i) and (ii) are confirmed,
        then Test Pass

     

    Representation (8) – Compliance with Law

     

    The 2020-A Lease complied in all material respects at the time it was originated and, as of the 2020-A Cutoff Date, will comply in all material respects with all requirements of federal, State and local
      laws.

     

    Review Materials

     

    
      
        	

              	-	
                Lease agreement

              

      

    

     

    Procedures to be Performed

     

    (i)        Confirm the lease agreement form number and
        revision date are on the List of Approved Contract Forms

     

    (ii)      Confirm the following sections of the
        contract are present and completed:

     

    
      
        	

              	(a)	
                Name and address of Lessor

              

      

    

    
      
        	

              	(b)	
                Name and address of Lessee and Co-lessee (if applicable)

              

      

    

    
      
        	

              	(c)	
                Vehicle description

              

      

    

    
      
        	

              	(d)	
                Amount due at lease signing

              

      

    

    
      
        	

              	(e)	
                Amount of monthly payment

              

      

    

     

    
      SA-4

      
        

    

    
      
        	

              	(f)	
                Number of monthly payments

              

      

    

    
      
        	

              	(g)	
                Other charges

              

      

    

    
      
        	

              	(h)	
                Total of Payments

              

      

    

     

    (iii)    Confirm there is an itemization of the
        amount due at lease signing

     

    (iv)    Confirm there is an itemization of the
        monthly payment

     

    (v)      Confirm the following disclosures are
        included on the contract

     

    
      
        	

              	(a)	
                Early termination

              

      

    

    
      
        	

              	(b)	
                Excessive wear

              

      

    

    
      
        	

              	(c)	
                Purchase option

              

      

    

    
      
        	

              	(d)	
                Insurance requirements

              

      

    

    
      
        	

              	(e)	
                Late charges

              

      

    

     

    (vi)     If sections (i) through (v) are confirmed,
        then Test Pass

     

    Representation (9) - Enforceability

     

    The 2020-A Lease was fully and properly executed by the parties thereto and such 2020-A Lease represents the legal, valid and binding full-recourse payment obligation of the related Lessee, enforceable
      against such Lessee in accordance with its terms, except as enforceability is subject to or limited by bankruptcy, reorganization, insolvency, fraudulent conveyance, moratorium and other similar laws affecting the enforcement of creditors’ rights in
      general or principles of equity (whether considered in a suit at law or in equity).

     

    Review Materials

     

    
      
        	

              	-	
                Lease agreement

              

      

    

     

    Procedures to be Performed

     

    (i)        Confirm the lease agreement was signed by
        the Lessor, Lessee and Co-lessee (if applicable)

     

    (ii)      Confirm the lease agreement form number and
        revision date are on the List of Approved Contract Forms

     

    (iii)     If sections (i) and (ii) are confirmed,
        then Test Pass

     

    Representation (10) – Title to the Lease and Leased Vehicle

     

    Neither the 2020-A Lease nor the 2020-A Vehicle has been sold, transferred, assigned, pledged or granted by any Dealer to any Person other than the Titling Trust.  The Titling Trust has good and
      marketable title to such 2020-A Lease and 2020-A Vehicle, free and clear of any Liens (other than Permitted Liens), participations and rights of others, including, to the knowledge of the Servicer, Liens (other than Permitted Liens) or claims for
      work, labor or material relating to such 2020-A Vehicle.

     

    
      SA-5

      
        

    

    Review Materials

     

    
      
        	

              	-	
                Lease agreement

              

      

    

     

    
      
        	

              	-	
                Title documents

              

      

    

     

    
      
        	

              	-	
                Lease file

              

      

    

     

    Procedures to be Performed

     

    (i)       Confirm the assignment section of the lease
        agreement has been signed by the Dealer and lists the Titling Trust as the assignee

     

    (ii)      Confirm there is no evidence within the
        lease file that the Lease has been sold, transferred, assigned, pledged or granted by any Dealer to any Person other than the Title Trust

     

    (iii)    Confirm the title shows that the Titling
        Trust is the owner of the Lease vehicle

     

    (iv)    Confirm the title document does not indicate
        any additional liens (other than permitted liens)

     

    (v)      If sections (i) through (iv) are confirmed,
        then Test Pass

     

    Representation (11) – Lease in Full Force and Effect; No Waiver

     

    The 2020-A Lease is in full force and effect and not satisfied, subordinated or rescinded and no provision of the 2020-A Lease has been waived in any manner that causes or could cause such 2020-A Lease
      to not qualify with the other criteria set forth herein.

     

    Review Materials

     

    
      
        	

              	-	
                Lease agreement

              

      

    

     

    
      
        	

              	-	
                Data tape

              

      

    

     

    
      
        	

              	-	
                Lease file

              

      

    

     

    Procedures to be Performed

     

    (i)        Confirm the lease agreement form number and
        revision date are on the List of Approved Contracts

     

    (ii)      Confirm within the data tape that the lease
        has not been paid off as of the 2020-A Cutoff Date

     

    
      SA-6

      
        

    

    (iii)     Confirm there is no evidence within the
        lease file that the Lease has been satisfied, subordinated or rescinded

     

    (iv)     Confirm there is no evidence within the
        lease file that any provision of the lease has been waived in any manner that would cause the Lease to become invalid

     

    (v)      If sections (i) through (iv) are confirmed,
        then Test Pass

     

    Representation (12) – No Defenses

     

    The 2020-A Lease is not subject to any right of rescission, cancellation, setoff, claim, counterclaim or any other defense (including defenses arising out of violations of usury laws) of the related
      Lessee to payment of the amounts due thereunder, and no such right of rescission, cancellation, set-off, claim, counterclaim or any other defense (including defenses arising out of violations of usury laws) has been asserted or threatened.

     

    Review Materials

     

    
      
        	

              	-	
                Lease file

              

      

    

     

    Procedures to be Performed

     

    (i)        Confirm there is no indication within the
        lease file that the Lease is subject to any right of rescission, cancellation, setoff, claim or counterclaim that could cause the Lease to become invalid

     

    (ii)      Confirm there is no indication within the
        lease file of any threats of rescission, cancellation, setoff, claim or counterclaim that could cause the Lease to become invalid

     

    (iii)    If sections (i) and (ii) are confirmed,
        then Test Pass

     

    Representation (13) - Assignability

     

    The 2020-A Lease is fully assignable and does not require the consent of the related Lessee or any other Person as a condition to any transfer, sale or assignment of the rights thereunder to the Titling
      Trust.

     

    Review Materials

     

    
      
        	

              	-	
                Lease agreement

              

      

    

     

    Procedures to be Performed

     

    (i)        Confirm the lease agreement form number and
        revision date are on the List of Approved Contracts

     

    
      SA-7

      
        

    

    (ii)      Confirm the lease agreement contains
        language allowing the sale, transfer, assignment, conveyance or pledge of the Lease without the consent of the related Lessee or any other Person

     

    (iii)    If sections (i) and (ii) are confirmed,
        then Test Pass

     

    Representation (14) – Lease Term

     

    As of its origination date, the 2020-A Lease had an original Lease Term of no less than 24 months and no more than 60 months.

     

    Review Materials

     

    
      
        	

              	-	
                Lease agreement

              

      

    

     

    Procedures to be Performed

     

    (i)        Confirm the number of payments as stated on
        the lease agreement are within the allowable lease term limits

     

    (ii)      If section (i) is confirmed, then Test Pass

     

    Representation (15) - Insurance

     

    As of the time of origination of the 2020-A Lease, the related lease agreement required the related Lessee to obtain physical damage insurance covering the related 2020-A Vehicle.

     

    Review Materials

     

    
      
        	

              	-	
                Lease agreement

              

      

    

     

    Procedures to be Performed

     

    (i)        Confirm the lease agreement contains
        language that required the Lessee to obtain and maintain physical damage insurance to the related Leased Vehicle

     

    (ii)      If section (i) is confirmed, then Test Pass

     

    Representation (16) – No Bankruptcy

     

    As of the 2020-A Cutoff Date, the Servicer has not received actual notice that the Lessee on any 2020-A Lease is a debtor in a bankruptcy proceeding.

     

    Review Materials

     

    
      
        	

              	-	
                Lease file

              

      

    

     

    
      SA-8

      
        

    

    Procedures to be Performed

     

    (i)        Confirm the lease file does not contain
        evidence that the related Lessee or Lease is the subject of any bankruptcy proceeding or insolvency proceeding as of the 2020-A Cutoff Date

     

    (ii)      If section (i) is confirmed, then Test Pass

     

    Representation (17) – No Extensions

     

    The 2020-A Lease has not been extended or otherwise been deferred, but may have been modified in accordance with the Credit and Collection Policy so long as such modification did not cause such 2020-A
      Lease to not qualify with the other criteria set forth herein.

     

    Review Materials

     

    
      
        	

              	-	
                Lease agreement

              

      

    

     

    
      
        	

              	-	
                Data file

              

      

    

     

    
      
        	

              	-	
                Lease file

              

      

    

     

    Procedures to be Performed

     

    (i)        Confirm the Lease has not been extended,
        deferred or modified as of the 2020-A Cutoff Date

     

    (ii)      If the Lease has been extended, deferred or
        modified, confirm that (a) there is no evidence that the extension, deferment or modification violated the Credit and Collection Policy and (b) the Lease, as extended, deferred or modified, meets all other representations

     

    (iii)     If section (i) or section (ii) is
        confirmed, then Test Pass

     

    Representation (18) – Delinquencies; No Payment Default

     

    As of the 2020-A Cutoff Date, none of the 2020-A Leases is Delinquent by more than 30 days.  As of the 2020-A Cutoff Date, none of the 2020-A Leases is a Defaulted Lease.

     

    Review Materials

     

    
      
        	

              	-	
                Data tape

              

      

    

     

    Procedures to be Performed

     

    (i)        Confirm the data tape does not indicate
        that 10% or more of the Base Monthly Payment required to be paid on the Lease was more than 30 days past due as of the 2020-A Cutoff Date

     

    
      SA-9

      
        

    

    (ii)      If section (i) is confirmed, then Test Pass

     

    Representation (19) – Securitization Value

     

    As of the 2020-A Cutoff Date, each 2020-A Lease had a Securitization Value not less than $15,000 and no more than $250,000.

     

    Review Materials

     

    
      
        	

              	-	
                Lease file

              

      

    

     

    Procedures to be Performed

     

    (i)        Confirm the Lease has a Securitization
        Value that is greater than or equal to $15,000.00

     

    (ii)      Confirm the Lease has a Securitization Value
        that is less than or equal to $250,000.00

     

    (iii)    If sections (i) and (ii) are confirmed,
        then Test pass

     

    Representation (20) – FICO Score

     

    As of its origination date, the Lessee under the 2020-A Lease had a FICO score of not less than 651.

     

    Review Materials

     

    
      
        	

              	-	
                Lease file

              

      

    

     

    Procedures to be Performed

     

    (i)        Confirm the related Lessee’s FICO score was
        greater than or equal to 651

     

    (ii)      If section (i) is confirmed, then Test Pass

     

    Representation (21) – No Allocation to Other Specified Interest

     

    The 2020-A Lease and the related 2020-A Vehicle allocated to the 2020-A Reference Pool has not been allocated to any Reference Pool other than the 2020-A Reference Pool.

     

    Review Materials

     

    
      
        	

              	-	
                Lease file

              

      

    

     

    Procedures to be Performed

     

    (i)        Confirm the lease file indicates that the
        related Lease and Leased Vehicle were allocated to the 2020-A Reference Pool

     

    
      SA-10

      
        

    

    (ii)      Confirm the related Lease and Leased Vehicle
        have not been re-allocated to any other reference pool other than the 2020-A Reference Pool

     

    (iii)     If section (i) and (ii) are confirmed,
        then Test Pass

     

    Representation (22) – Model Year

     

    The related 2020-A Vehicle has a model year between 2015 and 2020, inclusive.

     

    Review Materials

     

    
      
        	

              	-	
                Lease agreement

              

      

    

     

    Procedures to be Performed  

     

    (i)        Confirm the vehicle description of the
        lease agreement indicates that the Leased Vehicle is of a model year between 2015 and 2020

     

    (ii)      If section (i) is confirmed, then Test Pass

     

     

      

    SA-11Exhibit 4.1

 

	
        NUMBER

        U-__________
	UNITS
	 	 
	SEE REVERSE FOR

CERTAIN DEFINITIONS	 

 

CUSIP 395392 202

 

GREENROSE ACQUISITION CORP.

 

UNITS CONSISTING OF ONE SHARE OF COMMON
STOCK AND

ONE WARRANT

 

THIS CERTIFIES THAT _______________________________________________________________________
is the owner of _____________________________________________________________________________ Units.

 

Each Unit (“Unit”)
consists of one (1) share of common stock, par value $0.0001 per share (“Common Stock”), of Greenrose Acquisition
Corp., a Delaware corporation (the “Company”), and one warrant (“Warrant”). Each Warrant
entitles the holder to purchase one share of Common Stock for $11.50 per share (subject to adjustment). Each Warrant will become
exercisable on the later of (i) 30 days after the Company’s completion of an initial merger, capital stock exchange, asset
acquisition, or other similar business combination with one or more businesses or entities (a “Business Combination”)
and (ii) 12 months from the closing of the Company’s initial public offering (“IPO”), and will expire
unless exercised before 5:00 p.m., New York City Time, on the fifth anniversary of the completion of an initial Business Combination,
or earlier upon redemption or liquidation. The Common Stock and Warrant(s) comprising the Unit(s) represented by this certificate
are not transferable separately until ninety days following the effective date of the registration statement on Form S-1 filed
with the Securities and Exchange Commission (“SEC”) in connection with the Company’s IPO, unless Imperial Capital,
LLC informs the Company of its decision to allow earlier separate trading, except that in no event will the Common Stock and Warrants
be separately tradeable until the Company has filed a Current Report on Form 8-K with the SEC containing an audited balance sheet
reflecting the Company’s receipt of the gross proceeds of its IPO and issued a press release announcing when such separate
trading will begin. The terms of the Warrants are governed by a Warrant Agreement, dated as of ______ ___, 20__, between the Company
and Continental Stock Transfer & Trust Company, as Warrant Agent, and are subject to the terms and provisions contained therein,
all of which terms and provisions the holder of this certificate consents to by acceptance hereof. Copies of the Warrant Agreement
are on file at the office of the Warrant Agent at 1 State Street, 30th Floor, New York, New York 10004, and are
available to any Warrant holder on written request and without cost.

 

This certificate is not valid unless countersigned
by the Transfer Agent and Registrar of the Company.

 

Witness the facsimile seal of the Company
and the facsimile signatures of its duly authorized officers.

 

	By:	 	 
	Greenrose Acquisition Corp.
	CORPORATE SEAL

	 	2020	 
	Chairman	 	DELAWARE	 	Secretary

 

     

     

    

 

Greenrose Acquisition Corp.

 

The Company will furnish
without charge to each shareholder who so requests, a statement of the powers, designations, preferences, and relative, participating,
optional, or other special rights of each class of stock or series thereof of the Company and the qualifications, limitations,
or restrictions of such preferences and/or rights.

 

The following abbreviations,
when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according
to applicable laws or regulations:

 

	TEN COM –	as tenants in common	UNIF GIFT MIN ACT -	_______	Custodian	________
	TEN ENT –	as tenants by the entireties	 	(Cust)	 	(Minor)
	JT TEN –	as joint tenants with right of survivorship	under Uniform Gifts to Minors
	 	and not as tenants in common	Act ______________             
	 	 	(State)

 

Additional abbreviations may also be used
though not in the above list.

 

For value received, ___________________________
hereby sell, assign, and transfer unto

 

	PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE	 
	 	 
	 	 
	 	 

 

	 	 
	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 Units
	represented by the within Certificate, and do hereby irrevocably constitute and appoint
	 	 Attorney
	to transfer the said Units on the books of the within named Company will full power of substitution in the premises.

 

	Dated	 	 

 

	 	 	 
	 	Notice:	The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

Signature(s) Guaranteed:

 

	 	 
	THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).

 

The holder(s) of this certificate shall
be entitled to receive a pro-rata portion of the funds from the trust account with respect to the common stock underlying this
certificate only in the event that (i) the Company is forced to liquidate because it does not consummate an initial business combination
within the period of time set forth in the Company’s Amended and Restated Certificate of Incorporation, as the same may be
amended from time to time (the “Charter”) or (ii) if the holder seeks to convert his shares upon consummation of, or
sell his shares in a tender offer in connection with, an initial business combination or in connection with certain amendments
to the Charter. In no other circumstances shall the holder(s) have any right or interest of any kind in or to the trust account.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00303-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00303-of-00352.parquet"}]]