Document:

EX-10.1

 Exhibit 10.1 
  

 
 FORM OF 

RECEIVABLES SALE AGREEMENT 

dated as of [            ], 20[    ] 

between 
 THE HUNTINGTON
NATIONAL BANK 
 and 

HUNTINGTON FUNDING, LLC 
  

 

 TABLE OF CONTENTS 

 

							
	 ARTICLE I
	 	 DEFINITIONS AND USAGE
	  	 	1	  
			
	 SECTION 1.1
	 	 Definitions
	  	 	1	  
	 SECTION 1.2
	 	 Other Interpretive Provisions
	  	 	1	  
			
	 ARTICLE II
	 	 PURCHASE
	  	 	2	  
			
	 SECTION 2.1
	 	 Agreement to Sell on the Closing Date
	  	 	2	  
	 SECTION 2.2
	 	 Consideration and Payment
	  	 	2	  
			
	 ARTICLE III
	 	 REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	 	2	  
			
	 SECTION 3.1
	 	 Representations and Warranties of the Bank
	  	 	2	  
	 SECTION 3.2
	 	 Representations and Warranties of the Bank Regarding the Purchased
Assets
	  	 	3	  
	 SECTION 3.3
	 	 Representations and Warranties of the Bank as to each Receivable
	  	 	4	  
	 SECTION 3.4
	 	 Repurchase upon Breach
	  	 	4	  
	 SECTION 3.5
	 	 Protection of Title
	  	 	5	  
	 SECTION 3.6
	 	 Other Liens or Interests
	  	 	6	  
	 SECTION 3.7
	 	 Official Record
	  	 	6	  
	 SECTION 3.8
	 	 Merger or Consolidation of, or Assumption of the Obligations of, the
Bank
	  	 	6	  
	 SECTION 3.9
	 	 Bank May Own Notes and Certificates
	  	 	6	  
	 SECTION 3.10
	 	 Compliance with the FDIC Rule
	  	 	7	  
	 SECTION 3.11
	 	 Dispute Resolution
	  	 	7	  
	 SECTION 3.12
	 	 Cooperation with Voting
	  	 	9	  
			
	 ARTICLE IV
	 	 MISCELLANEOUS
	  	 	9	  
			
	 SECTION 4.1
	 	 Transfers Intended as Sale; Security Interest
	  	 	9	  
	 SECTION 4.2
	 	 Notices, Etc.
	  	 	10	  
	 SECTION 4.3
	 	 Choice of Law
	  	 	11	  
	 SECTION 4.4
	 	 Headings
	  	 	11	  
	 SECTION 4.5
	 	 Counterparts
	  	 	11	  
	 SECTION 4.6
	 	 Amendment
	  	 	11	  
	 SECTION 4.7
	 	 Waivers
	  	 	12	  
	 SECTION 4.8
	 	 Entire Agreement
	  	 	12	  
	 SECTION 4.9
	 	 Severability of Provisions
	  	 	13	  
	 SECTION 4.10
	 	 Binding Effect
	  	 	13	  
	 SECTION 4.11
	 	 Acknowledgment and Agreement
	  	 	13	  
	 SECTION 4.12
	 	 Cumulative Remedies
	  	 	13	  
	 SECTION 4.13
	 	 Nonpetition Covenant
	  	 	13	  
	 SECTION 4.14
	 	 Submission to Jurisdiction; Waiver of Jury Trial
	  	 	14	  
	 SECTION 4.15
	 	 Not Applicable to the Bank in Other Capacities
	  	 	14	  
	 SECTION 4.16
	 	 Third-Party Beneficiaries
	  	 	14	  
			
	 EXHIBITS
	 		  			
			
	 Exhibit A
	 	 Form of Assignment Pursuant to Receivables Sale Agreement
	  			
	 Schedule I
	 	 Perfection Representations, Warranties and Covenants
	  			
	 Schedule II
	 	 Representations and Warranties with Respect to the Receivables
	  			

  
 i 

 THIS RECEIVABLES SALE AGREEMENT is made and entered into as of
[            ], 20[    ] (as amended, restated, supplemented or otherwise modified and in effect from time to time, this “Agreement”) by THE HUNTINGTON
NATIONAL BANK, a national banking association (the “Bank”), and HUNTINGTON FUNDING, LLC, a Delaware limited liability company (the “Depositor”). 

WITNESSETH: 

WHEREAS, the Depositor desires to purchase from the Bank a portfolio of motor vehicle receivables, including motor vehicle
retail installment sale contracts and/or installment loans that are secured by new and used automobiles, light-duty trucks and vans; and 

WHEREAS, the Bank is willing to sell such portfolio of motor vehicle receivables and related property to the Depositor on the
terms and conditions set forth in this Agreement. 
 NOW, THEREFORE, in consideration of the premises and the mutual
agreements set forth herein, the parties hereto agree as follows: 
 ARTICLE I 

DEFINITIONS AND USAGE 

SECTION 1.1 Definitions. Except as otherwise defined herein or as the context may otherwise require, capitalized
terms used but not otherwise defined herein are defined in Appendix A to the Sale Agreement, dated as of the date hereof (as from time to time amended, supplemented or otherwise modified and in effect, the “Sale
Agreement”), between Huntington Auto Trust 20[    ]-[    ] and the Depositor, which contains rules as to usage that are applicable herein. 

SECTION 1.2 Other Interpretive Provisions. For purposes of this Agreement, unless the context otherwise requires:
(a) accounting terms not otherwise defined in this Agreement, and accounting terms partly defined in this Agreement to the extent not defined, shall have the respective meanings given to them under GAAP (provided, that, to the extent that the
definitions in this Agreement and GAAP conflict, the definitions in this Agreement shall control); (b) terms defined in Article 9 of the UCC as in effect in the relevant jurisdiction and not otherwise defined in this Agreement are used as defined in
that Article; (c) the words “hereof,” “herein” and “hereunder” and words of similar import refer to this Agreement as a whole and not to any particular provision of this Agreement; (d) references to any Article,
Section, Schedule, Appendix or Exhibit are references to Articles, Sections, Schedules, Appendices and Exhibits in or to this Agreement and references to any paragraph, subsection, clause or other subdivision within any Section or definition refer
to such paragraph, subsection, clause or other subdivision of such Section or definition; (e) the term “including” and all variations thereof means “including without limitation”; (f) except as otherwise expressly provided
herein, references to any law or regulation refer to that law or regulation as amended from time to time and include any successor law or regulation; (g) references to any Person include that Person’s successors and assigns and (h)
headings are for purposes of reference only and shall not otherwise affect the meaning or interpretation of any provision hereof. 

  

					
		 		 	Receivables Sale Agreement

 ARTICLE II 

PURCHASE 

SECTION 2.1 Agreement to Sell on the Closing Date. On the terms and subject to the conditions set forth in this
Agreement, the Bank does hereby transfer, assign, set over, sell and otherwise convey to the Depositor without recourse (subject to the obligations herein) on the Closing Date all of its right, title, interest, claims and demands in, to and under
the Receivables, the Collections after the Cut-Off Date, the Receivable Files and the Related Security relating thereto, whether now owned or hereafter acquired, as evidenced by an assignment in the form of Exhibit A
(“Assignment”) delivered on the Closing Date (the “Purchased Assets”). The sale, transfer, assignment and conveyance made hereunder does not constitute and is not intended to result in an assumption by the
Depositor of any obligation of the Bank to the Obligors, the Dealers, insurers or any other Person in connection with the Receivables or the other assets and properties conveyed hereunder or any agreement, document or instrument related thereto.

 SECTION 2.2 Consideration and Payment. The purchase price for the sale of the Purchased Assets sold to the
Depositor on the Closing Date shall equal the estimated fair market value of the Purchased Assets. Such purchase price shall be paid in cash to the Bank in an amount agreed to between the Bank and the Depositor. 

ARTICLE III 
 REPRESENTATIONS,
WARRANTIES AND COVENANTS 
 SECTION 3.1 Representations and Warranties of the Bank. The Bank makes the following
representations and warranties as of the Closing Date on which the Depositor will be deemed to have relied in acquiring the Purchased Assets. The representations and warranties will survive the conveyance of the Purchased Assets to the
Depositor pursuant to this Agreement, the conveyance of the Purchased Assets by the Depositor to the Issuer pursuant to the Sale Agreement and the Grant thereof by the Issuer to the Indenture Trustee pursuant to the Indenture: 

(a) Existence and Power. The Bank is a national banking association validly subsisting under the laws of the
United States of America and has, in all material respects, all power and authority to carry on its business as it is now conducted. The Bank has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would
materially and adversely affect the ability of the Bank to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Purchased Assets. 

(b) Authorization and No Contravention. The execution, delivery and performance by the Bank of the Transaction
Documents to which it is a party (i) have been duly authorized by all necessary action on the part of the Bank and (ii) do not contravene or constitute a default under (A) any applicable order, law, rule or regulation, (B) its organizational
documents or (C) any material agreement, contract, order or other instrument to which it is a party or its property is subject (other than violations which do not affect the legality, validity or enforceability of any of

  

					
		 	-2-	 	Receivables Sale Agreement

 
such agreements and which, individually or in the aggregate, would not materially and adversely affect the transactions contemplated by, or the Bank’s ability to perform its obligations
under, the Transaction Documents). 
 (c) No Consent Required. No approval or authorization by, or filing with,
any Governmental Authority is required in connection with the execution, delivery and performance by the Bank of any Transaction Document other than (i) UCC filings, (ii) approvals and authorizations that have previously been obtained and filings
that have previously been made and (iii) approvals, authorizations or filings which, if not obtained or made, would not have a material adverse effect on the enforceability or collectibility of the Receivables or any other part of the Purchased
Assets or would not materially and adversely affect the ability of the Bank to perform its obligations under the Transaction Documents. 

(d) Binding Effect. Each Transaction Document to which the Bank is a party constitutes the legal, valid and
binding obligation of the Bank enforceable against the Bank in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other similar
laws affecting the enforcement of creditors’ rights generally and, if applicable, the rights of creditors of corporations from time to time in effect or by general principles of equity. 

(e) No Proceedings. There are no Proceedings pending or, to the knowledge of the Bank, threatened against the Bank
before or by any Governmental Authority that (i) assert the invalidity or unenforceability of this Agreement or any of the other Transaction Documents, (ii) seek to prevent the issuance of the Notes or the consummation of any of the transactions
contemplated by this Agreement or any of the other Transaction Documents, (iii) seek any determination or ruling that would materially and adversely affect the performance by the Bank of its obligations under this Agreement or any of the other
Transaction Documents, or (iv) relate to the Bank that would materially and adversely affect the federal or Applicable Tax State income, excise, franchise or similar tax attributes of the Notes. 

(f) Lien Filings. The Bank is not aware of any material judgment, ERISA or tax lien filings against the Bank. 

SECTION 3.2 Representations and Warranties of the Bank Regarding the Purchased Assets. On the date hereof, the
Bank hereby makes the following representations and warranties to the Depositor, on which the Depositor will be deemed to have relied in acquiring the Purchased Assets. Such representations and warranties will survive the conveyance of the Purchased
Assets to the Depositor pursuant to this Agreement, the sale of the Purchased Assets to the Issuer under the Sale Agreement, and the Grant of the Purchased Assets and other collateral by the Issuer to the Indenture Trustee pursuant to the Indenture.

 (a) The Receivables were selected using selection procedures that were not known or intended by the Bank to be adverse to
the Issuer. 
 (b) The Receivables and the other Purchased Assets have been validly assigned by the Bank to the Depositor.

  

					
		 	-3-	 	Receivables Sale Agreement

 (c) The information with respect to the Receivables transferred on the Closing
Date as set forth in the Schedule of Receivables was true and correct in all material respects as of the Cut-Off Date. 

(d) No Receivables are pledged, assigned, sold, subject to a security interest or otherwise conveyed other than pursuant to
the Transaction Documents. The Bank has not authorized the filing of and is not aware of any financing statements against the Bank that includes a description of collateral covering any Receivable other than any financing statement relating to
security interests granted under the Transaction Documents or that have been or, prior to the assignment of such Receivables hereunder, will be terminated, amended or released. This Agreement creates a valid and continuing security interest in the
Receivables (other than the Related Security with respect thereto, to the extent that an ownership interest therein cannot be perfected by the filing of a financing statement) in favor of the Depositor which security interest is prior to all other
Liens (other than Permitted Liens) and is enforceable as such against all other creditors of and purchasers and assignees from the Bank. 

(e) The representations and warranties regarding creation, perfection and priority of security interests in the Purchased
Assets, which are attached to this Agreement as Schedule I, are true and correct. 
 SECTION 3.3 Representations
and Warranties of the Bank as to each Receivable. The Bank hereby makes the representations and warranties set forth on Schedule II as to the Receivables sold, transferred, assigned, set over and otherwise conveyed to the Depositor
under this Agreement on which such representations and warranties the Depositor relies in acquiring the Receivables. Such representations and warranties shall survive the sale of the Purchased Assets by the Depositor to the Issuer under the
Sale Agreement and the Grant of the Purchased Assets by the Issuer to the Indenture Trustee pursuant to the Indenture. Notwithstanding any statement to the contrary contained herein or in any other Transaction Document, the Bank shall not be
required to notify any insurer with respect to any Insurance Policy obtained by an Obligor or to notify any Dealer about any aspect of the transaction contemplated by the Transaction Documents. The Bank hereby agrees that the Issuer shall have
the right to enforce any and all rights under this Agreement assigned to the Issuer under the Sale Agreement, including the right to cause the Bank to repurchase any Receivable with respect to which it is in breach of any of its representation and
warranties set forth in Schedule II, directly against the Bank as though the Issuer were a party to this Agreement, and the Issuer shall not be obligated to exercise any such rights indirectly through the Depositor. 

SECTION 3.4 Repurchase upon Breach. Upon discovery by or notice to the Depositor or the Bank of a breach of any of
the representations and warranties set forth in Section 3.3 with respect to any Receivable at the time such representations and warranties were made which materially and adversely affects the interests of the Issuer, the Noteholders or the
Certificateholders, the party discovering such breach or receiving such notice shall give prompt written notice thereof to the other party; provided, that delivery of a Servicer’s Report which identifies the Receivables that are
being or have been repurchased shall be deemed to constitute prompt notice of such breach; provided, further, that the failure to give such notice shall not affect any obligation of the Bank hereunder. If the breach
materially and adversely affects the interests of the Issuer, the Noteholders or the Certificateholders, then the Bank shall either (a) 

  

					
		 	-4-	 	Receivables Sale Agreement

 
correct or cure such breach or (b) repurchase such Receivable from the Depositor (or its assignee), in either case on or before the Payment Date following the end of the Collection Period which
includes the sixtieth (60th) day (or, if the Bank elects, an earlier date) after the date that the Bank became aware or was notified of such breach. Any such breach or failure will be deemed
not to have a material and adverse effect if such breach or failure does not affect the ability of the Depositor (or its assignee) to receive and retain timely payment in full on such Receivable. Any such purchase by the Bank shall be at a
price equal to the Repurchase Price. In consideration for such repurchase, the Bank shall make (or shall cause to be made) a payment to the Depositor (or its assignee) equal to the Repurchase Price by depositing such amount into the Collection
Account prior to 11:00 a.m., New York City time, on the date of such repurchase, if such repurchase date is not a Payment Date or, if such repurchase date is a Payment Date, then prior to the close of business on the Business Day prior to such
repurchase date. Upon payment of such Repurchase Price by the Bank, the Depositor (or its assignee) shall release and shall execute and deliver such instruments of release, transfer or assignment, in each case without recourse or
representation, as may be reasonably requested by the Bank to evidence such release, transfer or assignment or more effectively vest in the Bank or its designee any Receivable and the related Purchased Assets repurchased pursuant hereto. It is
understood and agreed that the obligation of the Bank to purchase any Receivable as described above shall constitute the sole remedy respecting such breach available to the Depositor (or its assignee). 

SECTION 3.5 Protection of Title. 

(a) The Bank shall authorize and file such financing statements and cause to be authorized and filed such continuation and
other statements, all in such manner and in such places as may be required by law fully to preserve, maintain and protect the interest of the Depositor under this Agreement in the Receivables (other than any Related Security with respect thereto, to
the extent that the interest of the Depositor therein cannot be perfected by the filing of a financing statement). The Bank shall deliver (or cause to be delivered) to the Depositor file-stamped copies of, or filing receipts for, any document
filed as provided above, as soon as available following such filing. 
 (b) The Bank shall notify the Depositor in writing
within ten (10) days following the occurrence of (i) any change in the Bank’s organizational structure as a banking corporation, (ii) any change in the Bank’s “location” (within the meaning of Section 9-307 of the UCC) and (iii)
any change in the Bank’s name, and shall take all action prior to making such change (or shall have made arrangements to take such action substantially simultaneously with such change, if it is not practicable to take such action in advance)
reasonably necessary or advisable in the opinion of the Depositor to amend all previously filed financing statements or continuation statements described in paragraph (a) above. The Bank will at all times maintain its “location”
within the United States. 
 (c) The Bank shall maintain (or shall cause the Servicer to maintain) its computer systems so
that, from time to time after the conveyance under this Agreement of the Receivables, the master computer records (including any backup archives) that refer to a Receivable shall indicate clearly the interest of the Depositor (or any subsequent
assignee of the Depositor) in such Receivable and that such Receivable is owned by such Person. Indication of such Person’s 

  

					
		 	-5-	 	Receivables Sale Agreement

 
interest in a Receivable shall not be deleted from or modified on such computer systems until, and only until, the related Receivable shall have been paid in full or repurchased. 

(d) If at any time the Bank shall propose to sell, grant a security interest in or otherwise transfer any interest in motor
vehicle receivables to any prospective purchaser, lender or other transferee, the Bank shall give to such prospective purchaser, lender or other transferee computer tapes, records or printouts (including any restored from backup archives) that, if
they shall refer in any manner whatsoever to any Receivable, shall indicate clearly that such Receivable has been sold and is owned by the Depositor (or any subsequent assignee of the Depositor). 

SECTION 3.6 Other Liens or Interests. Except for the conveyances and grants of security interests pursuant to this
Agreement and the other Transaction Documents, the Bank shall not sell, pledge, assign or transfer the Receivables or other property transferred to the Depositor to any other Person, or grant, create, incur, assume or suffer to exist any Lien (other
than Permitted Liens) on any interest therein, and the Bank shall defend the right, title and interest of the Depositor in, to and under such Receivables or other property transferred to the Depositor against all claims of third parties claiming
through or under the Bank. 
 SECTION 3.7 Official Record. So long as the Notes and the Certificates remain
outstanding, this Agreement shall be treated as an official record of the Bank within the meaning of Section 13(e) of the Federal Deposit Insurance Act (12 U.S.C. Section 1823(e)). 

SECTION 3.8 Merger or Consolidation of, or Assumption of the Obligations of, the Bank. Any Person (i) into which
the Bank may be merged or converted or with which it may be consolidated, to which it may sell or transfer its business and assets as a whole or substantially as a whole, (ii) resulting from any merger, sale, transfer, conversion, or consolidation
to which the Bank shall be a party, (iii) succeeding to the business of the Bank, or (iv) more than 50% of the voting stock or voting power and 50% or more of the economic equity of which is owned directly or indirectly by Huntington Bancshares
Incorporated, which Person in any of the foregoing cases executes an agreement of assumption to perform every obligation of the Bank under this Agreement, will be the successor to the Bank under this Agreement without the execution or filing of any
document or any further act on the part of any of the parties to this Agreement anything herein to the contrary notwithstanding. Notwithstanding the foregoing, if the Bank enters into any of the foregoing transactions and is not the surviving
entity, the Bank will deliver to the Indenture Trustee and the Owner Trustee an Opinion of Counsel either (A) stating that, in the opinion of such counsel, all financing statements and continuation statements and amendments thereto have been
executed and filed that are necessary to preserve and protect the interest of the Issuer and, if the Notes are Outstanding, the Indenture Trustee, respectively, in the Receivables, or (B) stating that, in the opinion of such counsel, no such action
is necessary to preserve and protect such interest. 
 SECTION 3.9 Bank May Own Notes and Certificates. The
Bank, and any Affiliate of the Bank, may in its individual or any other capacity become the owner or pledgee of Notes and Certificates with the same rights as it would have if it were not the Bank or an Affiliate thereof, except as otherwise
expressly provided herein or in the other Transaction Documents. Except as set forth herein or in the other Transaction Documents, Notes and Certificates so 

  

					
		 	-6-	 	Receivables Sale Agreement

 
owned by the Bank or any such Affiliate will have an equal and proportionate benefit under the provisions of this Agreement and the other Transaction Documents, without preference, priority, or
distinction as among all of the Notes and Certificates. 
 SECTION 3.10 Compliance with the FDIC Rule. The Bank
(i) shall perform the covenants set forth in Article XII of the Indenture applicable to it and (ii) shall facilitate compliance with Article XII of the Indenture by the Huntington Parties. 

SECTION 3.11 Dispute Resolution. 

(a) If any Requesting Investor (each, a “Requesting Party”) requests that the Bank repurchase any Receivable
pursuant to Section 3.4 of this Agreement and the repurchase request has not been fulfilled or otherwise resolved to the reasonable satisfaction of the Requesting Party within 180 days of the receipt of notice of the request by the Bank,
the Requesting Party will have the right to refer the matter, at its discretion, to either mediation or arbitration pursuant to this Section 3.11. The Bank will inform the Requesting Party in writing upon a determination by the Bank that a
Receivable subject to a demand to repurchase will be repurchased and the monthly distribution report filed by the Depositor on Form 10-D for the Collection Period in which such Receivables were repurchased shall include disclosure of such
repurchase. A failure of the Bank to inform the Requesting Party that a Receivable subject to a demand will be repurchased within 180 days of the receipt of notice of the request shall be deemed to be a determination by the Bank that no
repurchase of that Receivable due to a breach of Section 3.4 of this Agreement is required. The monthly distribution report filed by the Depositor on Form 10-D for the Collection Period in which a repurchase demand is made and for each
subsequent Collection Period until such repurchase demand is resolved or the related Receivable is repurchased shall include disclosure regarding the date of the repurchase demand as well as the status of such repurchase demand for each applicable
Receivable. 
 (b) The Requesting Party will provide notice in accordance with the provisions of Section 4.2 of this
Agreement of its intention to refer the matter to mediation or arbitration, as applicable, to the Bank, with a copy to the Issuer, the Depositor, the Owner Trustee and the Indenture Trustee. The Bank agrees that it will participate in the
resolution method selected by the Requesting Party. A Requesting Party may not initiate a mediation or arbitration pursuant to this Section 3.11 with respect to a Receivable that is, or has been, the subject of an ongoing or previous
mediation or arbitration (whether by that Requesting Party or another Requesting Party) but will have the right, subject to a determination by the parties to the existing mediation or arbitration that such joinder would not prejudice the rights of
the participants to such existing mediation or arbitration or unduly delay such proceeding, to join an existing mediation or arbitration with respect to that Receivable if the mediation or arbitration has not yet concluded. To the extent the parties
fail to reach an agreement following any mediation initiated pursuant to this Section 3.11, the Requesting Party may refer the matter to binding arbitration or court adjudication. 

(c) If the Requesting Party selects mediation as the resolution method, the following provisions will apply: 

  

					
		 	-7-	 	Receivables Sale Agreement

 (i) The mediation will be administered by a nationally recognized
arbitration and mediation association selected by the Requesting Party pursuant to such association’s mediation procedures in effect at such time. 

(ii) The fees and expenses of the mediation will be allocated as mutually agreed by the parties as part of the
mediation. 
 (iii) The mediator will be impartial, knowledgeable about and experienced with the laws of the
State of New York that are relevant to the repurchase dispute and will be appointed from a list of neutrals maintained by the American Arbitration Association (the “AAA”). 

(d) If the Requesting Party selects arbitration as the resolution method, the following provisions will apply: 

(i) The arbitration will be administered by a nationally recognized arbitration and mediation association
jointly selected by the parties, and if the parties are unable to agree on an association, by the AAA, and conducted pursuant to such association’s arbitration procedures in effect at such time. 

(ii) The arbitrator will be impartial, knowledgeable about and experienced with the laws of the State of New
York that are relevant to the dispute hereunder and will be appointed from a list of neutrals maintained by AAA. 

(iii) The arbitrator will make its final determination no later than 90 days after appointment or as soon as
practicable thereafter. The arbitrator will resolve the dispute in accordance with the terms of this Agreement, and may not modify or change this Agreement in any way. The arbitrator will not have the power to award punitive damages or consequential
damages in any arbitration conducted by it, and the Bank shall not be required to pay more than the applicable Repurchase Price with respect to any Receivable which the Bank is required to repurchase under the terms of this Agreement or this
Agreement, as applicable. In its final determination, the arbitrator will determine and award the costs of the arbitration (including the fees of the arbitrator, cost of any record or transcript of the arbitration, and administrative fees) and
reasonable attorneys’ fees to the parties as determined by the arbitrator in its reasonable discretion. The determination of the arbitrator will be in writing and counterpart copies will be promptly delivered to the parties. The determination
may be enforced in any court of competent jurisdiction. 
 (iv) No person may bring a putative or certified
class action to arbitration. 
 (e) The following provisions will apply to both mediations and arbitrations: 

(i) Any mediation or arbitration will be held in New York, New York or such other location mutually agreed to
by the Requesting Party and the Bank; 
 (ii) Notwithstanding this dispute resolution provision, the parties
will have the right to seek provisional relief from a competent court of law, including a temporary 

  

					
		 	-8-	 	Receivables Sale Agreement

 
restraining order, preliminary injunction or attachment order, provided such relief would otherwise be available by law; and 

(iii) The details and/or existence of any unfulfilled repurchase request, any meetings or discussions regarding
any unfulfilled repurchase request, mediations or arbitration proceedings conducted under this Section 3.11, including all offers, promises, conduct and statements, whether oral or written, made in the course of the parties’ attempt to
resolve an unfulfilled repurchase request, any information exchanged in connection with any mediation, and any discovery taken in connection with any arbitration (collectively, “Confidential Information”), shall be and remain
confidential and inadmissible (except disclosures required by applicable law) for any purpose, including impeachment, in any mediation, arbitration or litigation, or other proceeding (including any proceeding under this Section 3.11) other
than as required to be disclosed in accordance with applicable law, regulatory requirements, or court order or to the extent that the Bank, in its sole discretion, elects to disclose such information. Such information will be kept strictly
confidential and will not be disclosed or discussed with any third party, except that a party may disclose such information to its own attorneys, experts, accountants and other agents and representatives (collectively
“Representatives”), as reasonably required in connection with any resolution procedure under this Section 3.11, and to the Asset Representations Reviewer, if an Asset Review has been conducted, if the disclosing party (a)
directs such Representatives to keep the information confidential, (b) is responsible for any disclosure by its Representatives of such information and (c) takes at its sole expense all reasonable measures to restrain such Representatives from
disclosing such information. If any party receives a subpoena or other request for information from a third party (other than a governmental regulatory body) for Confidential Information, the recipient will promptly notify the other party and will
provide the other party with the opportunity to object to the production of its Confidential Information or seek other appropriate protective remedies, consistent with the applicable requirements of law and regulation. If, in the absence of a
protective order, such party or any of its representatives are compelled as a matter of law, regulation, legal process or by regulatory authority to disclose any portion of the Confidential Information, such party may disclose to the party
compelling disclosure only the part of such Confidential Information that is required to be disclosed.
 SECTION 3.12
Cooperation with Voting. Each of the Bank and the Depositor hereby acknowledges and agrees that it shall cooperate with the Indenture Trustee to facilitate any vote by the Instituting Noteholders pursuant to the terms of Section 7.6 of
the Indenture. 
 ARTICLE IV 

MISCELLANEOUS 

SECTION 4.1 Transfers Intended as Sale; Security Interest. 

(a) Each of the parties hereto expressly intends and agrees that the transfers contemplated and effected under this Agreement
are complete and absolute sales, transfers and assignments rather than pledges or assignments of only a security interest and shall be given 

  

					
		 	-9-	 	Receivables Sale Agreement

 
effect as such for all purposes. It is further the intention of the parties hereto that the Receivables and related Purchased Assets shall not be part of the Bank’s estate in the event of a
bankruptcy or insolvency of the Bank. The sales and transfers by the Bank of the Receivables and the related Purchased Assets hereunder are and shall be without recourse to, or representation or warranty (express or implied) by, the Bank, except as
otherwise specifically provided herein. The limited rights of recourse specified herein against the Bank are intended to provide a remedy for breach of representations and warranties relating to the condition of the property sold, rather than to the
collectibility of the Receivables. 
 (b) Notwithstanding the foregoing, in the event that the Receivables and other
Purchased Assets are held to be property of the Bank, or if for any reason this Agreement is held or deemed to create indebtedness or a security interest in the Receivables and other Purchased Assets, then it is intended that: 

(i) This Agreement shall be deemed to be a security agreement within the meaning of Articles 8 and 9 of the New
York UCC and the UCC of any other applicable jurisdiction; 
 (ii) The conveyance provided for in Section
2.1 shall be deemed to be a grant by the Bank of, and the Bank hereby grants to the Depositor, a security interest in all of its right (including the power to convey title thereto), title and interest, whether now owned or hereafter acquired, in
and to the Receivables and other Purchased Assets, to secure such indebtedness and the performance of the obligations of the Bank hereunder; 

(iii) The possession by the Depositor or its agent of the Receivable Files and any other property that
constitute instruments, money, negotiable documents or chattel paper shall be deemed to be “possession by the secured party” or possession by the Depositor or a Person designated by the Depositor, for purposes of perfecting the security
interest pursuant to the New York UCC and the UCC of any other applicable jurisdiction; and 
 (iv)
Notifications to Persons holding such property, and acknowledgments, receipts or confirmations from Persons holding such property, shall be deemed to be notifications to, or acknowledgments, receipts or confirmations from, bailees or agents (as
applicable) of the Depositor for the purpose of perfecting such security interest under applicable law. 
 SECTION 4.2
Notices, Etc. All demands, notices and communications hereunder shall be in writing and shall be delivered or mailed by registered or certified first-class United States mail, postage prepaid, hand
delivery, prepaid courier service, or by facsimile or e-mail (if an applicable facsimile number or e-mail address is provided on Schedule I to the Sale Agreement), and addressed in each case as specified on Schedule I to the Sale
Agreement, or at such other address as shall be designated by any of the specified addressees in a written notice to the other parties hereto. Any notice required or permitted to be mailed to a Noteholder or Certificateholder shall be given by first
class mail, postage prepaid, at the address of such Noteholder or Certificateholder as shown in the Note Register. Delivery shall occur only upon receipt or reported tender of such communication by an officer of the recipient entitled to receive
such 

  

					
		 	-10-	 	Receivables Sale Agreement

 
notices located at the address of such recipient for notices hereunder; provided, however, that any notice to a Noteholder or Certificateholder mailed within the time and manner
prescribed in this Agreement shall be conclusively presumed to have been duly given, whether or not the Noteholder or Certificateholder shall receive such notice. 

SECTION 4.3 Choice of Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL,
SUBSTANTIVE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO CONFLICTS OF LAW, OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES
HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 SECTION 4.4 Headings. The section headings
hereof have been inserted for convenience only and shall not be construed to affect the meaning, construction or effect of this Agreement. 

SECTION 4.5 Counterparts. This Agreement may be executed in any number of counterparts, each of which so executed
shall be deemed to be an original, regardless of whether delivered in physical or electronic form, but all of such counterparts shall together constitute but one and the same instrument. 

SECTION 4.6 Amendment. 

(a) Any term or provision of this Agreement may be amended by the Bank and the Depositor without the consent of the Indenture
Trustee, the Issuer, any Noteholder, the Owner Trustee or any other Person subject to the satisfaction of one of the following conditions: 

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

(ii) The Rating Agency Condition is satisfied with respect to such amendment and the Bank or the Depositor
notifies the Indenture Trustee in writing that the Rating Agency Condition is satisfied with respect to such amendment. 

(b) This Agreement may also be amended from time to time by the Bank and the Depositor, with the consent of the Holders of
Notes evidencing not less than a majority of the Outstanding Note Balance of the Controlling Class, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any
manner the rights of the Noteholders or the Certificateholders. It will not be necessary for the consent of Noteholders or Certificateholders to approve the particular form of any proposed amendment or consent, but it will be sufficient if such
consent approves the substance thereof. The manner of obtaining such consents (and any other consents of Noteholders and Certificateholders provided for in this Agreement) and of evidencing the authorization of the execution thereof by Noteholders
and Certificateholders will be subject to such reasonable requirements as the Indenture Trustee and Owner Trustee may prescribe, including the establishment of record dates pursuant to the Depository Agreement. 

  

					
		 	-11-	 	Receivables Sale Agreement

 (c) Prior to the execution of any amendment pursuant to this Section 4.6,
the Bank or the Depositor shall provide written notification of the substance of such amendment to each Rating Agency; and promptly after the execution of any such amendment, the Bank or the Depositor shall furnish a copy of such amendment to each
Rating Agency, the Issuer and the Indenture Trustee; provided, that no amendment pursuant to this Section 4.6 shall be effective which materially and adversely affects the rights, protections or duties of the Indenture Trustee or the
Owner Trustee without the prior written consent of such Person. 
 (d) Prior to the execution of any amendment to this
Agreement, the Owner Trustee and the Indenture Trustee shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and an Officer’s
Certificate from the Depositor or the Administrator that all conditions precedent to the execution and delivery of such amendment have been satisfied. The Owner Trustee and the Indenture Trustee may, but shall not be obligated to, enter into any
such amendment which materially and adversely affects the Owner Trustee’s or the Indenture Trustee’s, as applicable, own rights, privileges, indemnities, duties or obligations under this Agreement, the Transaction Documents or otherwise.

 (e) Notwithstanding subsections (a) and (b) of this Section 4.6, this Agreement may only be amended by the Bank
and the Depositor if (i) the Majority Certificateholders consent to such amendment or (ii) such amendment shall not, as evidenced by an Officer’s Certificate of the Bank or the Depositor or an Opinion of Counsel delivered to the Indenture
Trustee and the Owner Trustee, materially and adversely affect the interests of the Certificateholders. 
 (f)
Notwithstanding anything herein to the contrary, for purposes of classifying the Issuer as a grantor trust under the Code, no amendment shall be made to this Agreement that would (i) result in a variation of the investment of the beneficial owners
of the Certificates for purposes of the United States Treasury Regulation section 301.7701-4(c) without the consent of Noteholders evidencing at least a majority of the Outstanding Note Balance of the Controlling Class and the Majority
Certificateholders or (ii) cause the Issuer (or any part thereof) to be classified as other than a grantor trust under subtitle A, chapter 1, subchapter J, part I, subpart E of the Code without the consent of all of the Noteholders and all of the
Certificateholders. 
 SECTION 4.7 Waivers. No failure or delay on the part of the Depositor, the Servicer, the
Bank, the Issuer or the Indenture Trustee in exercising any power or right hereunder (to the extent such Person has any power or right hereunder) shall operate as a waiver thereof, nor shall any single or partial exercise of any such power or right
preclude any other or further exercise thereof or the exercise of any other power or right. No notice to or demand on the Depositor or the Bank in any case shall entitle it to any notice or demand in similar or other circumstances. No waiver or
approval by either party under this Agreement shall, except as may otherwise be stated in such waiver or approval, be applicable to subsequent transactions. No waiver or approval under this Agreement shall require any similar or dissimilar waiver or
approval thereafter to be granted hereunder. 
 SECTION 4.8 Entire Agreement. The Transaction Documents contain a
final and complete integration of all prior expressions by the parties hereto with respect to the subject matter thereof and shall constitute the entire agreement among the parties hereto with respect to

  

					
		 	-12-	 	Receivables Sale Agreement

 
the subject matter thereof, superseding all prior oral or written understandings. There are no unwritten agreements among the parties. 

SECTION 4.9 Severability of Provisions. If any one or more of the covenants, agreements, provisions or terms of
this Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Agreement and shall in no way affect
the validity or enforceability of the other provisions of this Agreement. 
 SECTION 4.10 Binding Effect. This
Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its
terms, and shall remain in full force and effect until such time as the parties hereto shall agree. 
 SECTION 4.11
Acknowledgment and Agreement. By execution below, the Bank expressly acknowledges and consents to the sale of the Purchased Assets and the assignment of all rights and obligations of the Bank related thereto by the Depositor to the
Issuer pursuant to the Sale Agreement and the Grant of a security interest in the Receivables and the other Purchased Assets by the Issuer to the Indenture Trustee pursuant to the Indenture for the benefit of the Noteholders. In addition, the Bank
hereby acknowledges and agrees that for so long as the Notes are outstanding, the Indenture Trustee will have the right to exercise all powers, privileges and claims of the Depositor under this Agreement in the event that the Depositor shall fail to
exercise the same. 
 SECTION 4.12 Cumulative Remedies. The remedies herein provided are cumulative and not
exclusive of any remedies provided by law. 
 SECTION 4.13 Nonpetition Covenant. Each party hereto agrees that,
prior to the date which is one year and one day after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by any Bankruptcy Remote Party (i) such party shall not authorize any Bankruptcy Remote
Party to commence a voluntary winding-up or other voluntary case or other Proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under any bankruptcy, insolvency or other similar law
now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any substantial part of its property
or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other Proceeding commenced against such Bankruptcy Remote Party, or to make a general assignment for the benefit of its
creditors generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence or join with any other Person in commencing any Proceeding against such Bankruptcy Remote Party under any bankruptcy,
reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. This Section shall survive the termination of this Agreement. 

  

					
		 	-13-	 	Receivables Sale Agreement

 SECTION 4.14 Submission to Jurisdiction; Waiver of Jury Trial. Each
of the parties hereto hereby irrevocably and unconditionally: 
 (a) submits for itself and its property in any Proceeding
relating to this Agreement or any documents executed and delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts of the State of New York, the
courts of the United States of America for the Southern District of New York and appellate courts from any thereof; 
 (b)
consents that any such Proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue of such Proceeding in any such court or that such Proceeding was brought in an inconvenient court and agrees not
to plead or claim the same; 
 (c) agrees that service of process in any such Proceeding may be effected by mailing a copy
thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Person at its address determined in accordance with Section 4.2 of this Agreement; 

(d) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or
shall limit the right to sue in any other jurisdiction; and 
 (e) to the extent permitted by applicable law, each party
hereto irrevocably waives all right of trial by jury in any Proceeding or counterclaim based on, or arising out of, under or in connection with this Agreement, any other Transaction Document, or any matter arising hereunder or thereunder. 

SECTION 4.15 Not Applicable to the Bank in Other Capacities. Nothing in this Agreement shall affect any obligation
the Bank may have in any other capacity. 
 SECTION 4.16 Third-Party Beneficiaries. This Agreement shall inure
to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns and each of the Issuer and the Indenture Trustee shall be an express third-party beneficiary hereof and may enforce the provisions hereof
as if it were a party hereto. Except as otherwise provided in this Section, no other Person will have any right hereunder. 
 [Remainder of
Page Intentionally Left Blank] 

  

					
		 	-14-	 	Receivables Sale Agreement

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day
and year first written above. 
  

			
	 THE HUNTINGTON NATIONAL BANK

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 HUNTINGTON FUNDING, LLC

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

					
		 	S-1	 	Receivables Sale Agreement

 EXHIBIT A 

FORM OF 
 ASSIGNMENT
PURSUANT TO RECEIVABLES SALE AGREEMENT 
 [            ],
20[    ] 
 For value received, in accordance with the Receivables Sale Agreement, dated as of
[            ], 20[    ] (the “Agreement”), between The Huntington National Bank (the “Bank”), and Huntington Funding, LLC, a Delaware
limited liability company (the “Depositor”), on the terms and subject to the conditions set forth in the Agreement, the Bank does hereby transfer, assign, set over, sell and otherwise convey to the Depositor without recourse
(subject to the obligations in the Agreement) on the Closing Date, all of its right, title, interest, claims and demands in, to and under the Receivables set forth on the schedule of Receivables delivered by the Bank to the Depositor on the date
hereof, the Collections after the Cut-Off Date, the Receivable Files and the Related Security relating thereto. 
 The
foregoing sale does not constitute and is not intended to result in an assumption by the Depositor of any obligation of the undersigned to the Obligors, the Dealers, insurers or any other Person in connection with the Receivables, or the other
assets and properties conveyed hereunder or any agreement, document or instrument related thereto. 
 This assignment is
made pursuant to and upon the representations, warranties and agreements on the part of the undersigned contained in the Agreement and is governed by the Agreement. 

Capitalized terms used herein and not otherwise defined shall have the respective meanings assigned to them in the Agreement
or, if not defined in the Agreement, in Appendix A to the Sale Agreement, dated as of [            ], 20[    ], between Huntington Auto Trust
20[    ]-[    ] and the Depositor. 
 [Remainder of page intentionally left blank] 

  

					
		 	A-1	 	Receivables Sale Agreement

 IN WITNESS WHEREOF, the undersigned has caused this assignment to be duly
executed as of the date first above written. 
  

			
	 THE HUNTINGTON NATIONAL BANK

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

					
		 	A-2	 	Receivables Sale Agreement

 SCHEDULE I 

PERFECTION REPRESENTATIONS, WARRANTIES AND COVENANTS 

In addition to the representations, warranties and covenants contained in the Agreement, the Bank hereby represents, warrants,
and covenants to the Depositor as follows on the Closing Date: 
 General 

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

2. The Receivables constitute “chattel paper” (including “electronic chattel paper” or “tangible
chattel paper”), “accounts”, “instruments”, “promissory notes”, “payment intangibles” or “general intangibles”, within the meaning of the applicable UCC. 

3. Immediately prior to the sale, transfer, contribution, assignment and/or conveyance of a Receivable, such Receivable is
secured by a first priority validly perfected and enforceable security interest in the related Financed Vehicle in favor of the Originator (or its assignee), as secured party, or all necessary actions with respect to such Receivable have been taken
or will be taken to perfect a first priority security interest in the related Financed Vehicle in favor of the Originator (or its assignee), as secured party, subject, as to enforcement, to applicable bankruptcy, insolvency, reorganization,
liquidation or other similar laws and equitable principles relating to or affecting the enforcement of creditors’ rights generally. 

Creation 

4. Immediately prior to the sale, transfer, contribution, assignment and/or conveyance of a Receivable by the Bank to the
Depositor, the Bank owned and had good and marketable title to such Receivable free and clear of any Lien (other than any Liens in favor of the Depositor) and immediately after the sale, transfer, assignment and conveyance of such Receivable to the
Depositor, the Depositor will have good and marketable title to such Receivable free and clear of any Lien. 
 5. The Bank
has received all consents and approvals to the sale of the Receivables hereunder to the Depositor required by the terms of the Receivables that constitute instruments. 

Perfection 

6. The Bank has submitted or will have caused to be submitted, on the effective date of this Agreement, the filing of all
appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the sale of the Receivables from the Bank to the Depositor and the security interest in the Receivables granted to
the Depositor hereunder; and the Servicer, in its capacity as custodian, has in its possession the original copies of such instruments or tangible chattel paper that constitute or evidence the 

  

					
		 	Schedule I-1	 	Receivables Sale Agreement

 
Receivables, and all financing statements referred to in this paragraph contain a statement that: “A purchase of or security interest in any collateral described in this financing statement
will violate the rights of the Secured Party/Purchaser.” 
 7. With respect to Receivables that constitute an
instrument or tangible chattel paper, either: 
  

	 	 a.
	 All original executed copies of each such instrument or tangible chattel paper have been delivered to the
Indenture Trustee, as pledgee of the Issuer; or 

  

	 	 b.
	 Such instruments or tangible chattel paper are in the possession of the Servicer and the Indenture Trustee has
received a written acknowledgment from the Servicer that the Servicer (in its capacity as custodian) is holding such instruments or tangible chattel paper solely on behalf and for the benefit of the Indenture Trustee, as pledgee of the Issuer; or

  

	 	 c.
	 The Servicer received possession of such instruments or tangible chattel paper after the Indenture Trustee
received a written acknowledgment from the Servicer that the Servicer is acting solely as agent of the Indenture Trustee, as pledgee of the Issuer. 

Priority 

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

9. The Bank is not aware of any material judgment, ERISA or tax lien filings against the Bank. 

10. Neither the Bank nor a custodian or vaulting agent thereof holding any Receivable that is electronic chattel paper has
communicated an “authoritative copy” (as such term is used in Section 9-105 of the UCC) of any loan agreement that constitutes or evidences such Receivable to any Person other than the Servicer. 

11. None of the instruments, electronic chattel paper or tangible chattel paper that constitutes or evidences the Receivables
has any marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person other than the Depositor, the Issuer or the Indenture Trustee. 

Survival of Perfection Representations 

12. Notwithstanding any other provision of this Agreement or any other Transaction Document, the perfection representations,
warranties and covenants contained in this Schedule I 

  

					
		 	Schedule I-2	 	Receivables Sale Agreement

 
shall be continuing, and remain in full force and effect until such time as all obligations under the Transaction Documents and the Notes have been finally and fully paid and performed. 

No Waiver 

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

  

					
		 	Schedule I-3	 	Receivables Sale Agreement

 SCHEDULE II 

REPRESENTATIONS AND WARRANTIES 

WITH RESPECT TO THE RECEIVABLES 
  

	 (a)
	 Characteristics of Receivables. As of the Cut-Off Date (or such other date as may be specifically
set forth below), each Receivable: 

 (i) has been fully and properly executed or
electronically authenticated by the Obligor thereto; 
 (ii) either (A) has been originated by a Dealer to
finance the retail sale by that Dealer of the related Financed Vehicle and has been purchased by the Bank in accordance with the terms of a dealer agreement between the Bank and that Dealer or (B) has been originated by the Bank [through a Dealer];

 (iii) as of the Closing Date, is secured by a first priority validly perfected security interest in the
Financed Vehicle in favor of the Originator, as secured party, or all necessary actions have been commenced that would result in a first priority security interest in the Financed Vehicle in favor of the Originator, as secured party; 

(iv) contains customary and enforceable provisions such that the rights and remedies of the holder thereof are
adequate for realization against the collateral of the benefits of the security; 
 (v) provided, at
origination, for level monthly payments which fully amortize the initial Principal Balance over the original term; provided, that the amount of the first or last scheduled payment may be different from the level payment but in no event more
than three times the level monthly payment; 
 (vi) provides for interest at the Contract Rate specified in
the Schedule of Receivables; 
 (vii) was originated in the United States; 

(viii) is secured by a new or used automobile, light-duty truck or van; 

(ix) has a Contract Rate of at least [    ]%; 

(x) had an original term to maturity of not more than [    ] months and each Receivable has
a remaining term to maturity, as of the Cut-Off Date, of not more than [    ] months and not less than [    ] months; 

(xi) has an Outstanding Principal Balance of at least $[        ]; 

(xii) has a final scheduled payment due on or before
[            ]; 

  

					
		 	Schedule II-1	 	Receivables Sale Agreement

 (xiii) was not more than 30 days past due as of the Cut-Off Date;

 (xiv) was not noted in the records of the Servicer as being the subject of any bankruptcy or insolvency
Proceeding; 
 (xv) is a Simple Interest Receivable; and 

(xvi) provides that a prepayment by the related Obligor will fully pay the Principal Balance and accrued
interest through the date of prepayment based on the Receivable’s Contract Rate. 
  

	 (b)
	 Compliance with Law. The Receivable complied at the time it was originated or made in all material
respects with all requirements of applicable federal, state and local laws, and regulations thereunder. 

  

	 (c)
	 Binding Obligation. The Receivable constitutes the legal, valid and binding payment
obligation in writing of the Obligor, enforceable by the holder thereof in accordance with its terms, except (i) as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, liquidation or other similar laws and equitable
principles relating to or affecting the enforcement of creditors’ rights generally and (ii) as such Receivable may be modified by the application after the Cut-Off Date of the Servicemembers Civil Relief Act, as amended, to the extent
applicable to the related Obligor. 

  

	 (d)
	 Receivable in Force. The Receivable has not been satisfied, subordinated or rescinded nor has the
related Financed Vehicle been released from the lien of such Receivable in whole or in part.

  

	 (e)
	 No Default; No Waivers. Except for payment delinquencies continuing for a period of not more than
30 days as of the Cut-Off Date, the records of the Servicer did not disclose that any default, breach, violation or event permitting acceleration under the terms of the Receivable existed as of the Cut-Off Date. 

 

	 (f)
	 Insurance. The Receivable requires that the Obligor thereunder obtain physical damage
insurance covering the related Financed Vehicle. 

  

	 (g)
	 No Government Obligor. The Obligor on the Receivable is not the United States of America or any state
thereof or any local government, or any agency, department, political subdivision or instrumentality of the United States of America or any state thereof or any local government. 

 

	 (h)
	 Assignment. No Receivable has been originated in, or is subject to the laws of, any jurisdiction under
which the sale, transfer, assignment, contribution, conveyance or pledge of such Receivable would be unlawful, void, or voidable. 

  

	 (i)
	 Good Title. As of the Closing Date and immediately prior to the sale and transfer contemplated in the
Sale Agreement, the Seller had good and marketable title to and was the sole owner of each Receivable free and clear of all Liens (except any Lien which will 

  

					
		 	Schedule II-2	 	Receivables Sale Agreement

	 	
be released prior to assignment of such Receivable thereunder), and, immediately upon the sale and transfer thereof, the Issuer will have good and marketable title to each Receivable, free and
clear of all Liens (other than Permitted Liens). 

  

	 (j)
	 Characterization of Receivables. Each Receivable constitutes either “chattel
paper,” an “account,” an “instrument,” or a “general intangible,” each as defined in the UCC. 

  

	 (k)
	 One Original. There is only one executed original of the Contract (within the meaning of the UCC)
related to each Receivable. 

  

	 (l)
	 No Defenses. The records of the Servicer do not reflect any facts which would give rise to any
right of rescission, offset, claim, counterclaim or defense with respect to such Receivable or the same being asserted or threatened with respect to such Receivable. 

  

					
		 	Schedule II-3	 	Receivables Sale AgreementEX-10.6

 Exhibit 10.6 
  

 
  

FORM OF 
 ASSET REPRESENTATIONS
REVIEW AGREEMENT 
 HUNTINGTON AUTO TRUST 20[    ]-[    ], 

as Issuer 
 and 

THE HUNTINGTON NATIONAL BANK, 
 as
Sponsor and Servicer 
 and 

[                    ], 

as Asset Representations Reviewer 
  

 
 Dated as of
[            ], 20[    ] 
  

 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	 ARTICLE I.
	 	 DEFINITIONS
	  	 	1	  
			
	 Section 1.1
	 	 Definitions
	  	 	1	  
			
	 ARTICLE II.
	 	 ENGAGEMENT; ACCEPTANCE
	  	 	2	  
			
	 Section 2.1
	 	 Engagement; Acceptance
	  	 	2	  
			
	 Section 2.2
	 	 Eligibility of Asset Representations Reviewer
	  	 	3	  
			
	 Section 2.3
	 	 Independence of the Asset Representations Reviewer
	  	 	3	  
			
	 ARTICLE III.
	 	 DUTIES OF THE ASSET REPRESENTATIONS REVIEWER
	  	 	3	  
			
	 Section 3.1
	 	 Review Scope
	  	 	3	  
			
	 Section 3.2
	 	 Review Notices
	  	 	3	  
			
	 Section 3.3
	 	 Review Materials
	  	 	4	  
			
	 Section 3.4
	 	 Missing or Incomplete Review Materials
	  	 	4	  
			
	 Section 3.5
	 	 The Asset Review
	  	 	5	  
			
	 Section 3.6
	 	 Review Period
	  	 	5	  
			
	 Section 3.7
	 	 Review Report
	  	 	5	  
			
	 Section 3.8
	 	 Completion of Review for Certain Subject Receivables
	  	 	5	  
			
	 Section 3.9
	 	 Termination of Review
	  	 	6	  
			
	 Section 3.10
	 	 Review and Procedure Limitations
	  	 	6	  
			
	 Section 3.11
	 	 Review Systems
	  	 	6	  
			
	 Section 3.12
	 	 Representatives
	  	 	6	  
			
	 Section 3.13
	 	 Dispute Resolution
	  	 	7	  
			
	 Section 3.14
	 	 Records Retention
	  	 	7	  
			
	 Section 3.15
	 	 No Delegation
	  	 	7	  
			
	 ARTICLE IV.
	 	 PAYMENTS TO ASSET REPRESENTATIONS REVIEW
	  	 	7	  
			
	 Section 4.1
	 	 Annual Fee
	  	 	7	  
			
	 Section 4.2
	 	 Review Fee
	  	 	8	  
			
	 Section 4.3
	 	 Dispute Resolution Expenses
	  	 	8	  
			
	 Section 4.4
	 	 Payment
	  	 	9	  
			
	 Section 4.5
	 	 [Payments by the Issuer
	  	 	9	  
			
	 ARTICLE V.
	 	 OTHER MATTERS PERTAINING TO THE ASSET REPRESENTATIONS REVIEWER
	  	 	9	  

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
			
	 Section 5.1
	 	 Representations and Warranties of the Asset Representations Reviewer
	  	 	9	  
			
	 Section 5.2
	 	 Limitation of Liability of Asset Representations Reviewer
	  	 	10	  
			
	 Section 5.3
	 	 Indemnification of Asset Representations Reviewer
	  	 	10	  
			
	 Section 5.4
	 	 Indemnification by Asset Representations Reviewer
	  	 	11	  
			
	 ARTICLE VI.
	 	 REMOVAL, RESIGNATION; SUCCESSOR ASSET REPRESENTATION REVIEWER
	  	 	11	  
			
	 Section 6.1
	 	 Eligibility Requirements for Asset Representations Reviewer
	  	 	11	  
			
	 Section 6.2
	 	 Resignation and Removal of Asset Representations Reviewer
	  	 	11	  
			
	 Section 6.3
	 	 Successor Asset Representations Reviewer
	  	 	12	  
			
	 Section 6.4
	 	 Merger, Consolidation or Succession
	  	 	13	  
			
	 ARTICLE VII.
	 	 TREATMENT OF CONFIDENTIAL INFORMATION
	  	 	13	  
			
	 Section 7.1
	 	 Confidential Information
	  	 	13	  
			
	 Section 7.2
	 	 Safeguarding Personally Identifiable Information
	  	 	15	  
			
	 ARTICLE VIII.
	 	 OTHER MATTERS PERTAINING TO THE ISSUER
	  	 	16	  
			
	 Section 8.1
	 	 Termination of this Agreement
	  	 	16	  
			
	 Section 8.2
	 	 Limitation of Liability
	  	 	16	  
			
	 ARTICLE IX.
	 	 MISCELLANEOUS PROVISIONS
	  	 	16	  
			
	 Section 9.1
	 	 Amendment
	  	 	16	  
			
	 Section 9.2
	 	 Notices, Etc
	  	 	18	  
			
	 Section 9.3
	 	 Severability Clause
	  	 	18	  
			
	 Section 9.4
	 	 Governing Law
	  	 	18	  
			
	 Section 9.5
	 	 Headings
	  	 	18	  
			
	 Section 9.6
	 	 Counterparts
	  	 	18	  
			
	 Section 9.7
	 	 Waivers
	  	 	18	  
			
	 Section 9.8
	 	 Entire Agreement
	  	 	19	  
			
	 Section 9.9
	 	 Severability of Provisions
	  	 	19	  
			
	 Section 9.10
	 	 Binding Effect
	  	 	19	  
			
	 Section 9.11
	 	 Cumulative Remedies
	  	 	19	  
			
	 Section 9.12
	 	 Nonpetition Covenant
	  	 	19	  
			
	 Section 9.13
	 	 Submission to Jurisdiction; Waiver of Jury Trial
	  	 	19	  

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
			
	 Section 9.14
	 	 Third-Party Beneficiaries
	  	 	20	  

 Exhibit A – Agreed Upon Procedures 

  
 -iii- 

 ASSET REPRESENTATIONS REVIEW AGREEMENT 

This ASSET REPRESENTATIONS REVIEW AGREEMENT is made and entered into as of
[            ], 20[    ] (this “Agreement”), by and between Huntington Auto Trust 20[    ]-[    ], a Delaware
statutory trust (the “Issuer”), THE HUNTINGTON NATIONAL BANK, a national banking association (the “Bank”), and in its capacity as sponsor, the “Sponsor”, and in its capacity as servicer, the
“Servicer”, and [                    ], a
[                    ]
(“[                    ]”, and in its capacity as asset representations reviewer, the “Asset Representations Reviewer”).

 WHEREAS, the Issuer will engage the Asset Representations Reviewer to perform reviews of Receivables for compliance with
the representations and warranties made by the Sponsor regarding such Receivables. 
 NOW, THEREFORE, in consideration of
the mutual agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 

ARTICLE I. 
 DEFINITIONS

 Section 1.1 Definitions. Except as otherwise defined herein or as the context may otherwise require,
capitalized terms used but not otherwise defined herein are defined in Appendix A to the Sale Agreement dated as of the date hereof (as from time to time amended, supplemented or otherwise modified and in effect, the
“Sale Agreement”) between the Issuer and Huntington Auto Funding, LLC, as seller, which also contains rules as to usage that are applicable herein. 

Whenever used in this Agreement, the following words and phrases shall have the following meanings: 

“Annual ARR Fee” has the meaning set forth in Section 4.1. 

“Asset Review” means the completion by the Asset Representations Reviewer of the “Tests” set forth
in Exhibit A for each Subject Receivable as further described in Section 3.5. 
 “Client Records”
has the meaning set forth in Section 3.14. 
 “Confidential Information” has the meaning set forth
in Section 7.1. 
 “Disclosing Party” has the meaning set forth in Section 7.1. 

“Eligible Asset Representations Reviewer” means a Person who (i) is not, and is not Affiliated with, the
Sponsor, the Seller, the Servicer, the Indenture Trustee, the Owner Trustee or any of their Affiliates and (ii) was not engaged or Affiliated with a Person that was engaged by the Sponsor or any Underwriter to perform any due diligence on the
Receivables prior to the Closing Date. 

 “Eligibility Representations” shall mean those representations
identified in Exhibit A. 
 “Indemnified Person” has the meaning set forth in Section 5.3. 

“Personally Identifiable Information” or “PII” has the meaning set forth in Section
7.2. 
 “Privacy Laws” has the meaning set forth in Section 7.2. 

“Receiving Party” has the meaning set forth in Section 7.1. 

“Representatives” has the meaning set forth in Section 7.1. 

“Review Fee” has the meaning set forth in Section 4.2. 

“Review Invoice” means, with respect to any Asset Review, a detailed invoice prepared by the Asset
Representations Reviewer setting forth the calculation of the applicable Review Fee for such Asset Review. 

“Review Materials” means the documents, data, and other information required for each “Test” in
Exhibit A. 
 “Review Period” has the meaning set forth in Section 3.6. 

“Review Report” has the meaning set forth in Section 3.7. 

“Subject Receivables” means, for any Asset Review, all Receivables which are 60-Day Delinquent Receivables as
of the related Review Satisfaction Date; provided, that any Receivable repurchased by the Sponsor or the Servicer in accordance with the Transaction Documents or paid in full by the related obligor after the Review Satisfaction Date will no
longer be a Subject Receivable. 
 “Tests” mean the procedures listed in Exhibit A as applied to the
process described in Section 3.5. 
 “Test Fail” has the meaning set forth in Section 3.5.

 “Test Incomplete” has the meaning set forth in Section 3.5. 

“Test Otherwise Resolved” has the meeting set forth in Section 3.8. 

“Test Pass” has the meaning set forth in Section 3.5. 

ARTICLE II. 

ENGAGEMENT; ACCEPTANCE 

Section 2.1 Engagement; Acceptance. 

  
 2 

 The Issuer hereby engages
[                    ] to act as the Asset Representations Reviewer for the Issuer.
[                    ] hereby accepts the engagement and agrees to perform the obligations of the Asset Representations Reviewer on the terms stated
in this Agreement. 
 Section 2.2 Eligibility of Asset Representations Reviewer.

[                    ]
represents and warrants to the Issuer and the Sponsor that it is an Eligible Asset Representations Reviewer. The Asset Representations Reviewer will notify the Issuer, the Sponsor and the Servicer promptly if it is not, or on the occurrence of any
action that would result in it not being, an Eligible Asset Representations Reviewer. 
 Section 2.3 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, the Indenture Trustee or the Owner Trustee for the manner in which it accomplishes the performance of its obligations under this Agreement. Unless expressly authorized by the Issuer, the Indenture Trustee or
the Owner Trustee, the Asset Representations Reviewer will have no authority to act for or represent the Issuer, the Indenture Trustee or the Owner Trustee, respectively, and will not be considered an agent of the Issuer, the Indenture Trustee or
the Owner Trustee. Nothing in this Agreement will make the Asset Representations Reviewer and any of the Issuer, the Indenture Trustee or the Owner Trustee members of any partnership, joint venture or other separate entity or impose any liability as
such on any of them. 
 ARTICLE III. 

DUTIES OF THE ASSET REPRESENTATIONS REVIEWER 

Section 3.1 Review Scope. 

The parties confirm that the Asset Representations Review is not responsible for (a) reviewing the Receivables for compliance
with the representations and warranties under the Transaction Documents, except as described in this Agreement or (b) determining whether noncompliance with the representations and warranties constitutes a breach of the Eligibility Representations.
For the avoidance of doubt, the parties confirm that the review is not designed to determine why an Obligor is delinquent or the creditworthiness of the Obligor, either at the time of any Asset Review or at the time of origination of the related
Receivable. Further, the Asset Review is not designed to establish cause, materiality or recourse for any Test Fail (as defined in Section 3.5). 

Section 3.2 Review Notices. 

Upon receipt of (i) a Review Notice from the Indenture Trustee in accordance with Section 7.6(b) of
the Indenture and (ii) the Review Materials in accordance with Section 3.3 of this Agreement, the Asset Representations Reviewer will start an Asset Review. The Asset Representations Reviewer will not be obligated to begin, and may not begin,
an Asset Review until the Asset Representations Reviewer receives a Review Notice. Within ten Business Days of receipt of a Review Notice, the Servicer shall provide the list of Subject Receivables to the

  
 3 

 
Asset Representations Reviewer in the format selected by the Servicer to the address specified in Section 9.2.

None of the Issuer, the Servicer, the Sponsor or the Asset Representations Reviewer is obligated to verify whether the
Indenture Trustee properly determined that a Review Notice was required. None or the Issuer, the Sponsor or the Asset Representations Reviewer is obligated to verify the accuracy or completeness of the list of Subject Receivables provided by
the Servicer. 
 Section 3.3 Review Materials. 

The Servicer will provide reasonable assistance to the Asset Representations Reviewer to facilitate the Asset Review. Within
60 days of receipt by the Servicer of the Review Notice, the Servicer will provide the Asset Representations Reviewer with the Review Materials for all Subject Receivables in one or more of the following ways, as elected by the Servicer: (i) by
providing access to the Servicer’s receivables system, either remotely or at one or more of the properties of the Servicer; (ii) by electronic posting of Review Materials to a password-protected website to which the Asset Representations
Reviewer has access; (iii) by providing originals or photocopies at one or more of the properties of the Servicer where the Receivable Files are located; (iv) by sending originals or photocopies of Review Materials to the Asset Representations
Reviewer at the address specified in Section 9.2; or (v) in another manner agreed to by the Servicer and the Asset Representations Reviewer. The Servicer may redact or remove Personally Identifiable Information from the Review Materials so
long as such redaction or removal does not result in a change in the meaning or usefulness of the Review Materials. The Asset Representations Reviewer shall not be liable for any failure of the Review Materials to be accurate and complete, including
any failure that results in the Review Materials being misleading in any material respect.
 Section 3.4 Missing or
Incomplete Review Materials. 
 The Asset Representations Reviewer will complete the Tests for each Eligible
Representation only using documentation that is made available to it. Upon receipt of the Review Materials, the Asset Representations Reviewer will complete an initial document inventory to verify there are no systemic documentation errors,
including but not limited to consistently missing or incomplete information in the Review Materials with respect to each Subject Receivable. Once the Asset Representations Reviewer has confirmed the majority of the Review Materials have been
provided in accordance with Section 3.3, the Asset Representations Reviewer will commence the Asset Review. In instances where Review Material is not accessible, clearly unidentifiable, and/or illegible, the Asset Representations Reviewer
will request that the Servicer (with a copy to the Sponsor) provide an updated copy of such Review Material. If the Servicer and the Sponsor have not provided the missing Review Material for a Subject Receivable to the Asset Representations Reviewer
within 60 days of notification by the Asset Representations Reviewer, the parties agree that such Subject Receivable will have a Test Incomplete for the related Test(s) and the Review Report will indicate the reason for the Test Incomplete.

  
 4 

 Section 3.5 The Asset Review. 

For an Asset Review, the Asset Representations Reviewer will perform the applicable procedures listed under “Tests”
in Exhibit A for each Eligibility Representation. In the course of its review, the Asset Representations Reviewer will use the Review Materials listed in Exhibit A. For each Test, the Asset Representations Reviewer will determine if the
Test has been satisfied (a “Test Pass”), if the Test has not been satisfied (a “Test Fail”) or if the Test could not be concluded as a result of missing or incomplete Review Materials (a “Test
Incomplete”). 
 If a Subject Receivable was included in a prior Asset Review, the Asset Representations Reviewer
will not conduct additional Tests on any such duplicate Subject Receivable unless such Subject Receivable was deemed a Test Incomplete as a result of the failure of the Servicer and the Sponsor to provide missing Review Materials for such Subject
Receivable and the Sponsor elects to have such Subject Receivable included in the current Asset Review. The Asset Representations Reviewer will include the previously reported Test results for any such duplicate Subject Receivable within the Review
Report for the current Asset Review.
 Section 3.6 Review Period. 

The Asset Representations Reviewer will complete the Review within 60 days of receiving access to the Review Materials in
accordance with Section 3.3 (such time period, the “Review Period”); provided, that if additional Review Materials are provided to the Asset Representations Reviewer as described in Section 3.4, the Review
Period will be extended for an additional 30 days. 
 Section 3.7 Review Report. 

Within five Business Days following the end of the applicable Review Period described in Section 3.6, the Asset
Representations Reviewer will provide the Issuer, the Servicer and the Indenture Trustee with (i) a report (a “Review Report”) specifying for each Subject Receivable whether there was a Test Pass, a Test Fail, a Test Incomplete (as
contemplated by Section 3.5) or a Test Otherwise Resolved (as contemplated by Section 3.8) for each Test and Subject Receivable and (ii) the related Review Invoice. The Review Report will include a summary of the findings and
conclusions of the Asset Representations Reviewer with respect to the Asset Review to be included in the Form 10-D for the Issuer for the Collection Period in which the Review Report is received. The Asset Representations Reviewer will ensure that
the Review Report does not contain any Personally Identifiable Information. For the avoidance of doubt, the Indenture Trustee shall have no obligation to forward the Review Report to any Noteholder or any other person. 

Section 3.8 Resolution of Review for Certain Subject Receivables. 

Following the delivery of the list of the Subject Receivables and before the delivery of the Review Report by the Asset
Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Subject Receivable is paid in full by or on behalf of the Obligor or purchased from the Issuer by the Sponsor or the Servicer in accordance with the
Transaction Documents. On receipt of notice, the Asset Representations Reviewer will immediately terminate all Tests of such Receivables and the Asset Review of such Receivables will be 

  
 5 

 
considered resolved (a “Test Otherwise Resolved”). In this case, the Review Report will indicate a Test Otherwise Resolved for the Receivables and the related reason. 

Section 3.9 Termination of Review. 

If an Asset Review is in process and the Notes will be paid in full on the next Payment Date (including any payment in full as
a result of any early redemption of the Notes), the Servicer will notify the Asset Representations Reviewer and the Indenture Trustee no less than ten days before that Payment Date. On receipt of notice, the Asset Representations Reviewer will
terminate the Asset Review immediately and will not be obligated to deliver a Review Report. 
 Section 3.10 Review and
Procedure Limitations. 
 The Asset Representations Reviewer will have no obligation (i) to determine whether a
Delinquency Trigger has occurred, (ii) to determine whether the required percentage of Noteholders has voted to direct an Asset Review and may rely on the information in any Review Notice delivered by the Indenture Trustee, (iii) to determine which
Receivables are Subject Receivables and may rely on the list of Subject Receivables provided by the Servicer, (iv) to confirm the validity of the Review Materials, (v) other than as specified in Section 3.3, to obtain missing or insufficient
Review Materials, or (vi) to take any action or to cause any other party to take any action under any of the Transaction Documents to enforce any remedies for any breach of a representation, warranty or covenant, including any Eligibility
Representation. 
 The Asset Representations Reviewer shall only be required to perform the testing procedures listed under
“Tests” in Exhibit A, and shall have no obligation to perform additional testing procedures on any Subject Receivables or to consider any additional information provided by any party. The Asset Representations Reviewer shall have no
obligation to provide reporting or other information other than the Review Report described in Section 3.7. However, the Asset Representations Reviewer may provide additional information about any Subject Receivable that it determines in good
faith to be material to its performance of an Asset Review. 
 Section 3.11 Review Systems. 

The Asset Representations Reviewer shall maintain and utilize an electronic case management system to manage the Tests and to
provide systematic control over each step in the Asset Review process and ensure consistency and repeatability for the Tests. The Asset Representations Reviewer will ensure that these systems allow for each Subject Receivable 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 Asset Reviews as required by this Agreement. 

Section 3.12 Representatives. 

(a) Servicer Representative. The Servicer will provide reasonable access to one or more designated representatives
to respond to reasonable requests and inquiries made by the Asset Representations Reviewer in its completion of an Asset Review. 

  
 6 

 (b) Asset Representations Review Representative. The Asset
Representations Reviewer will provide reasonable access to one or more designated representatives to respond to reasonable requests and inquiries made by the Servicer, the Sponsor, the Issuer or the Indenture Trustee during the Asset Representations
Reviewer’s completion of an Asset Review. The Asset Representations Reviewer shall have no obligation to respond to requests or inquires, and other than as specified in Section 3.13 shall not respond to requests or inquiries, made by any
Person not party to this Agreement other than the Indenture Trustee; provided, that if the Asset Representations Reviewer receives any request or inquiry from a Person not a party to this Agreement, then the Asset Representations Reviewer may
inform such Person that they may contact the Servicer and/or the Indenture Trustee with respect to such request or inquiry. 

Section 3.13 Dispute Resolution. 

If a Subject Receivable that was reviewed by the Asset Representations Reviewer during an Asset Review is the subject of a
dispute resolution proceeding under Section 3.11 of the Receivables Sale Agreement, the Asset Representations Reviewer shall participate in the dispute resolution proceeding on request of a party to the proceeding. The
reasonable out-of-pocket expenses and reasonable compensation 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
(subject to Section 4.3) will be paid by a party to the dispute resolution as determined by the mediator or arbitrator for the dispute resolution according to Section 3.11 of the Receivables Sale Agreement.

Section 3.14 Records Retention. 

The Asset Representations Reviewer will maintain copies of Review Materials, Review Reports and internal work papers and
correspondence (collectively the “Client Records”) for a period of two years after the termination of this Agreement. At the expiration of the retention period, the Asset Representations Reviewer shall return all Client Records to
the Servicer, in electronic format or, to the extent held in tangible form, in that form. Upon the return of the Client Records, the Asset Representations Reviewer shall have no obligation to retain such Client Records or to respond to inquiries
concerning any Asset Review. 
 Section 3.15 No Delegation. 

The Asset Representations Reviewer may not delegate or subcontract its obligations under this Agreement to any Person without
the consent of the Issuer, the Sponsor and the Servicer. 
 ARTICLE IV. 

PAYMENTS TO ASSET REPRESENTATIONS REVIEW 

Section 4.1 Annual Fee. 

As compensation for its activities hereunder, the Asset Representations Reviewer shall be entitled to receive an annual fee in
an amount equal to $[        ] (the “Annual ARR Fee”) during the term of this Agreement, which shall be paid by or on behalf of the [Issuer] [Sponsor] within

  
 7 

 
[30] days of the date hereof, with respect to the initial Annual ARR Fee[, and within [30] days of the annual anniversary of this Agreement with respect to each subsequent Annual ARR Fee;
provided, however, that if the Asset Representations Reviewer resigns or is removed in accordance with Section 6.2, then the Asset Representations Reviewer shall refund to the [Issuer] [Sponsor] the portion of the Annual ARR Fee attributable
to the portion of the annual period during which [                     ] will no longer act as the Asset Representations Reviewer, assuming for
purposes of such calculation that the Annual ARR Fee for each day during the annual period is an amount equal to the Annual ARR Fee divided by 365.] 

Section 4.2 Review Fee.

Following the completion of an Asset Review and delivery to the Indenture Trustee, the Sponsor, the Servicer and the Issuer of
the Review Report and the related Review Invoice, the [Issuer] [Sponsor] shall pay to the Asset Representations Reviewer a fee of $[        ] [for each Subject Receivable for which the Asset Review was
completed] [per hour for its time spent conducting the Asset Review] [as a flat fee for such Review] [plus reasonable out-of-pocket expenses incurred in connection with travel to the location at which Review Materials are made available in
accordance with Section 3.3 (the “Review Fee”).] However, no Review Fee will be charged for any Subject Receivable which was included in a prior Asset Review or for which no Tests were completed prior to the Asset
Representations Reviewer being notified of a termination of the Asset Review according to Section 3.9 or the Asset Representations Reviewer being notified of the payment in full or purchase of any Subject Receivable according to Section
3.8. [To the extent not paid by the [Issuer] [Sponsor] and outstanding for at least 90 days after receipt by the Indenture Trustee, the Sponsor, the Servicer and the Issuer of the Review Invoice, the Review Fee shall be paid by [the Issuer
pursuant to the priority of payments sets forth in Section 8.5(a) of the Indenture or Section 5.4(b) of the Indenture, as applicable [the Sponsor]. [For the avoidance of doubt, there shall be no aggregate limit on the Review Fee
paid by the [Issuer] [Sponsor] to the Asset Representations Reviewer pursuant to this Section 4.2.] 
 Section 4.3
Dispute Resolution Expenses. 
 If the Asset Representations Reviewer participates in a dispute resolution proceeding
under Section 3.13 and its reasonable out-of-pocket expenses and reasonable compensation for the time it incurs in participating in the proceeding are not paid by a party to the dispute resolution within [ninety (90)] days of the end of the
proceeding, the [Issuer] [Sponsor] will reimburse the Asset Representations Reviewer for such expenses upon receipt of a detailed invoice. 

  
 8 

 Section 4.4 Payment. 

All payments made to the Asset Representations Reviewer shall be made to the account specified by the Asset Representations
Reviewer from time to time in writing to the Indenture Trustee, the Sponsor, the Servicer and the Issuer. 
 Section 4.5
[Payments by the Issuer. 
 The Asset Representations Reviewer acknowledges and agrees that any payments payable by
the Issuer under this Agreement, including pursuant to this Article IV or Section 5.3, shall be limited to amounts available to make such payments pursuant to Section 8.5(a) of the Indenture and Section 5.4(b) of the
Indenture, as applicable.] 
 ARTICLE V. 

OTHER MATTERS PERTAINING TO THE ASSET REPRESENTATIONS REVIEWER 

Section 5.1 Representations and Warranties of the Asset Representations Reviewer. 

[                    ]
hereby makes the following representations and warranties as of the date hereof: 
 (a) Existence and
Power. [                    ] is a
[                    ] validly existing and in good standing under the laws of its state of
[                    ] and has, in all material respects, full power and authority to own its assets and operate its business as presently owned or
operated, and to execute, to deliver and to perform its obligations under this Agreement. [                    ] has obtained all necessary licenses
and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of [                    ] to perform
its obligations under this Agreement. 
 (b) Authorization and No Contravention. The execution, delivery and
performance by [                    ] of the Transaction Documents to which it is a party have been duly authorized by all necessary
[                    ] action on the part of
[                    ] and do not contravene or constitute a default under (i) any applicable law, rule or regulation, (ii) its organizational
documents or (iii) any material indenture or material agreement or instrument to which [                    ] is a party or by which its properties
are bound (other than violations of such laws, rules, regulations, organizational documents, indentures, agreements or instruments which do not affect the legality, validity or enforceability of any of such agreements and which, individually or in
the aggregate, would not materially and adversely affect the transactions contemplated by, or [                    ]’s ability to perform its
obligations under, this Agreement). 
 (c) No Consent Required. No approval or authorization by, or filing with,
any Governmental Authority is required in connection with the execution, delivery and performance by [                    ] of this Agreement other
than (i) approvals and authorizations that have previously been obtained and filings that have previously been made and (ii) approvals, authorizations or filings which, if not obtained or made, would not have a material adverse effect on the ability
of [                    ] to perform its obligations under this Agreement. 

  
 9 

 (d) Binding Effect. This Agreement constitutes the legal, valid and
binding obligation of [                    ] enforceable against
[                    ] in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, receivership, conservatorship or other similar laws affecting the enforcement of creditors’ rights generally and, if applicable, the rights of creditors of corporations from time to time in effect or by general
principles of equity. 
 (e) No Proceedings. There are no actions, orders, suits or proceedings pending or, to
the knowledge of [                    ], threatened against
[                    ] before or by any Governmental Authority that (i) assert the invalidity or unenforceability of this Agreement or (ii) seek any
determination or ruling that would materially and adversely affect the performance by [                    ] of its obligations under this Agreement.

 (f) Eligibility. The Asset Representations Reviewer is an Eligible Asset Representations Reviewer. 

Section 5.2 Limitation of Liability of Asset Representations Reviewer. 

To the fullest extent permitted by applicable law, the Asset Representations Reviewer shall not be under any liability to the
Issuer, the Servicer, the Seller, the Indenture Trustee, the Owner Trustee, any Noteholder or any other Person for any action taken or for refraining from the taking of an action in its capacity as Asset Representations Reviewer pursuant to this
Agreement, or for errors in judgment, whether arising from express or implied duties under this Agreement; provided, however, that this provision shall not protect the Asset Representations Reviewer against any liability which would
otherwise be imposed by reason of willful misconduct, bad faith, breach of this Agreement or negligence in the performance of its duties. In no event will the Asset Representations Reviewer be liable for special, indirect or consequential loss or
damage (including loss of profit) even if the Asset Representations Reviewer has been advised of the likelihood of the loss or damage and regardless of the form of action. 

The Asset Representations Reviewer and any director, officer, employee, or agent may rely in good faith on any document of any
kind prima facie properly executed and submitted by any Person respecting any matters arising hereunder. The Asset Representations Reviewer shall not be under any obligation to appear in, prosecute or defend any legal action which is not incidental
to its duties as Asset Representations Reviewer hereunder. 
 Section 5.3 Indemnification of Asset Representations
Reviewer. 
 (a) The [Issuer] [Sponsor] will indemnify the Asset Representations Reviewer and its officers, directors,
employees and agents (each, an “Indemnified Person”), for all costs, expenses, losses, damages and liabilities resulting from the performance of the Asset Representations Reviewer’s obligations under this Agreement (including
the costs and expenses of defending itself against any loss, damage or liability), but excluding any cost, expense, loss, damage or liability resulting from (i) the Asset Representations Reviewer’s willful misconduct, bad faith or negligence or
(ii) the Asset Representations Reviewer’s breach of any of its representations, warranties or covenants in this Agreement. [To the extent not paid by the 

  
 10 

 
[Issuer] [Sponsor], any such indemnification amounts shall be paid by the [Issuer] [Sponsor] pursuant to the priority of payments set forth in Section 8.5(a) of the Indenture or Section
5.4(b) of the Indenture, as applicable.] 
 (b) The indemnification set forth in this Section 5.3 will survive
the termination of this Agreement and the resignation or removal of the Asset Representations Reviewer. 
 Section 5.4
Indemnification by Asset Representations Reviewer. 
 (a) To the fullest extent permitted by law, the Asset
Representations Reviewer shall indemnify and hold harmless each of the Issuer, the Servicer and the Indenture Trustee, and its officers, directors, successors, assigns, legal representatives, agents, and servants (each an “Indemnified
Person”), from and against any and all liabilities, obligations, losses, damages, penalties, taxes, claims, actions, investigations, proceedings, costs, expenses or disbursements (including reasonable legal fees and expenses) of any kind
and nature whatsoever which may be imposed on, incurred by, or asserted at any time against an Indemnified Person (whether or not also indemnified against by any other person) which arose out of the negligence, willful misconduct or bad faith of the
Asset Representations Reviewer in the performance of its obligations and duties under this Agreement; provided, however, that the Asset Representations Reviewer shall not be liable for or required to indemnify an Indemnified Person
from and against expenses arising or resulting from (i) the Indemnified Person’s own willful misconduct, bad faith or negligence, or (ii) the breach of any representation, warranty or covenant made by the Indemnified Person. 

(b) In case any such action, investigation or proceeding will be brought involving an Indemnified Person as contemplated by
Section 5.4(a), the Asset Representations Reviewer will assume the defense thereof, including the employment of counsel and the payment of all expenses. The Issuer, the Servicer, the Sponsor and the Indenture Trustee each will have the right
to employ separate counsel in any such action, investigation or proceeding and to participate in the defense thereof and the reasonable fees and expenses of such counsel will be paid by the Asset Representations Reviewer. In the event of any claim,
action, or proceeding for which indemnity will be sought pursuant to this Section 5.4, the Issuer’s, the Servicer’s, the Sponsor’s and the Indenture Trustee’s choice of legal counsel shall be subject to the good faith
objection by the Asset Representations Reviewer to a conflict of interest under the applicable rules of professional conduct. 

(c) The indemnification set forth in this Section 5.4 will survive the termination or assignment of this Agreement and
the resignation or removal of the Asset Representations Reviewer or any Indemnified Person.
 ARTICLE VI. 

REMOVAL, RESIGNATION; SUCCESSOR ASSET REPRESENTATION REVIEWER 

Section 6.1 Eligibility Requirements for Asset Representations Reviewer. The Asset Representations Reviewer must
be an Eligible Asset Representations Reviewer. 
 Section 6.2 Resignation and Removal of Asset Representations
Reviewer. 

  
 11 

 (a) No Resignation of Asset Representations Reviewer. The Asset
Representations Reviewer may not resign as Asset Representations Reviewer except (i) if the Asset Representations Reviewer is no longer an Eligible Asset Representations Reviewer, (ii) upon a determination that the performance of its duties under
this Agreement is no longer permissible under applicable law or (iii) if it does not receive payment in full of any amounts required to be paid to the Asset Representations Reviewer in accordance with Article IV and pursuant to an undisputed
invoice, which failure continues unremedied for a period of [ninety (90)] days after written notice of such failure shall have been given to the Issuer, the Sponsor and the Indenture Trustee. Without limiting the foregoing, the Asset Representations
Review shall promptly resign if it is no longer an Eligible Asset Representations Reviewer. If the Asset Representations Reviewer resigns pursuant to clause (ii) above, the Asset Representations Reviewer shall deliver a notice of resignation to the
Issuer and the Servicer, with a copy to the Indenture Trustee, no less than thirty (30) days prior to the date of its resignation. 

(b) Removal of Asset Representations Reviewer. If any of the following events occur, the Indenture Trustee may,
or, at the direction of Noteholders evidencing a majority of the aggregate Outstanding Amount of the Notes shall, by notice to the Asset Representations Reviewer, remove the Asset Representations Reviewer and terminate its rights and obligations
under this Agreement: 
 (i) the Asset Representations Reviewer is no longer an Eligible Asset
Representations Reviewer; 
 (ii) the Asset Representations Reviewer breaches any of its representations,
warranties, covenants or obligations in this Agreement; or 
 (iii) a Bankruptcy Event of the Asset
Representations Reviewer occurs. 
 (c) Notice of Resignation or Removal. The Servicer will notify the Issuer, the
Owner Trustee and the Indenture Trustee of any resignation or removal of the Asset Representations Reviewer. 
 Section 6.3
Successor Asset Representations Reviewer. 
 (a) Engagement of Successor Asset Representations
Reviewer. Following the resignation or removal of the Asset Representations Reviewer, (i) if the Delinquency Percentage has exceeded the Delinquency Trigger as of the most recent Payment Date, the Indenture Trustee (at the direction of the
Noteholders, provided, that if the Indenture Trustee has received conflicting or inconsistent requests from two or more groups of Noteholders, each representing less than the majority of the Note Balance, the Indenture Trustee shall follow the
direction of the Noteholders representing the greater percentage of the Note Balance) and (ii) if the Delinquency Percentage has not exceeded the Delinquency Trigger as of the most recent Payment Date, the Sponsor, will appoint a successor Asset
Representations Reviewer which is an Eligible Asset Representations Reviewer. 
 (b) Effectiveness of Resignation or
Removal. No resignation or removal of the Asset Representations Reviewer will be effective until the successor Asset Representations Reviewer has executed and delivered to the Issuer, the Sponsor and the Servicer an agreement accepting its

  
 12 

 
engagement and agreeing to perform the obligations of the Asset Representations Reviewer under this Agreement or entered into a new agreement with the Issuer and the Servicer on substantially the
same terms as this Agreement. 
 (c) Transition and Expenses. If the Asset Representations Review resigns or is
removed, the Asset Representations Reviewer will cooperate with the Issuer and take all actions reasonably requested to assist the Issuer in making an orderly transition of the Asset Representations Reviewer’s rights and obligations under this
Agreement to the successor Asset Representations Reviewer. The Asset Representations Reviewer will pay the reasonable expenses (including the fees and expenses of counsel) of transitioning the Asset Representations Reviewer’s obligations under
this Agreement and preparing the successor Asset Representations Reviewer to take on such obligations on receipt of an invoice with reasonable detail of the expenses from the Issuer or the successor Asset Representations Reviewer. 

Section 6.4 Merger, Consolidation or Succession. Any Person (a) into which the Asset Representations Reviewer is
merged or consolidated, (b) resulting from any merger or consolidation to which the Asset Representations Reviewer is a party or (c) succeeding to the business of the Asset Representations Reviewer, if that Person is an Eligible Asset
Representations Reviewer, will be the successor to the Asset Representations Reviewer under this Agreement. Such Person will execute and deliver to the Issuer, the Sponsor and the Servicer an agreement to assume the Asset Representations
Reviewer’s obligations under this Agreement (unless the assumption happens by operation of law). 
 ARTICLE VII. 

TREATMENT OF CONFIDENTIAL INFORMATION 

Section 7.1 Confidential Information. 

(a) Confidential Information Defined. For the purposes of this Agreement, “Confidential
Information” means nonpublic proprietary information of a party (the “Disclosing Party”) that is disclosed to the other party (the “Receiving Party”), including but not limited to: (i) business or technical
processes, formulae, source codes, object code, product designs, sales, cost and other unpublished financial information, customer information, product and business plans, projections, marketing data or strategies, trade secrets, intellectual
property rights, know-how, expertise, methods and procedures for operation, information about employees, customer names, business or technical proposals, and any other information which is or should reasonably be understood to be confidential or
proprietary to the Disclosing Party; (ii) PII (as defined in Section 7.2 of this Agreement). The foregoing definition of Confidential Information applies to: (i) all such information, whether tangible or intangible and regardless of the
medium in which it is stored or presented; and (ii) all copies of such information, as well as all memoranda, notes, summaries, analyses, computer records, and other materials prepared by the Receiving Party or any of its employees, agents,
advisors, directors, officers, and subcontractors (collectively “Representatives”) that contain or reflect the Confidential Information. 

(b) Use of Confidential Information. Each party acknowledges that during the term of this Agreement it may be
exposed to or acquire Confidential Information of the other party or 

  
 13 

 
its Affiliates. The Receiving Party shall hold the Confidential Information of the Disclosing Party in strict confidence and will not disclose such information except to its Representatives who
have a need to know such information for the purpose of effecting the terms and conditions of this Agreement and who have entered into an agreement with the Receiving Party with confidentiality restrictions materially equivalent to those contained
herein. The Receiving Party shall be responsible for the breach of this Agreement by any of its Representatives. The Receiving Party will protect the Disclosing Party’s Confidential Information using the same degree of care that it uses to
protect its own information of like import, but in no event with less than a commercially reasonable standard of care. 

(c) Exceptions. Confidential Information shall not include, and this Agreement imposes no obligations with respect
to, information that: 
  

	 	 (i)
	 is or becomes part of the public domain other than by disclosure by a party in violation of this Agreement;

  

	 	 (ii)
	 was disclosed to a party prior to the effective date of this Agreement without a duty of confidentiality;

  

	 	 (iii)
	 is independently developed by a party outside of this Agreement and without reference to or reliance on any
Confidential Information of the other party; or 

  

	 	 (iv)
	 was obtained from a third party not known after reasonable inquiry to be under a duty of confidentiality.

 The foregoing exceptions shall not apply to any PII, which shall remain confidential in all
circumstances, except as required or permitted to be disclosed by applicable law, statute, or regulation. 
 (d)
Disclosure by Operation of Law. If either party is requested to disclose all or any part of any Confidential Information under a subpoena, or inquiry issued by a court of competent jurisdiction or by a judicial or administrative agency
or legislative body or committee, such party shall (i) to the extent permitted by law, promptly notify the other party of the existence, terms and circumstances surrounding such request; (ii) consult with the other party on the advisability of
taking legally available steps to resist or narrow such request and cooperate with such Party on any steps it considers advisable; and (iii) if disclosure of the Confidential Information is required or deemed advisable, exercise commercially
reasonable efforts to obtain an order, stipulation or other reliable assurance that confidential treatment shall be accorded to such portion of the Confidential Information to be disclosed. Each party shall reimburse the other party for reasonable
legal fees and expenses incurred in connection with such party’s effort to comply with this section. 
 (e) Return
of Confidential Information. Upon the request of the Disclosing Party, the Receiving Party shall return all Confidential Information to the Disclosing Party provided to it pursuant to this Agreement; provided, however, (i) the Receiving
Party shall be permitted to retain copies of the Disclosing Party’s Confidential Information solely for archival, audit, disaster recovery, legal and/or regulatory purposes, and (ii) neither party will be required to search archived electronic
back-up files of its computer systems for the other party’s 

  
 14 

 
Confidential Information in order to purge the other party’s Confidential Information from its archived files; provided further, that any Confidential Information so retained will (x) remain
subject to the obligations and restrictions contained in this Agreement, (y) will be maintained in accordance with the retaining party’s document retention policies and procedures, and (z) the retaining party will not use the retained
Confidential Information for any other purpose. 
 (f) Remedies. The parties agree that an actual or threatened
breach of this Section by it or its Representatives may cause irreparable damage to the Disclosing Party and that damages may not be an adequate remedy for any such breach. Accordingly, each party shall be entitled to seek injunctive relief to
restrain any such breach, threatened or actual, without the necessity of posting bond, in addition to any other remedies available to such party at law or in equity. 

Section 7.2 Safeguarding Personally Identifiable Information. 

(a) Definition. “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, as further described in § 501(b) of the Gramm-Leach-Bliley Act and the Interagency Guidelines Establishing Standards for
Safeguarding Customer Information (12 C.F.R. Section 208, Appendix D-2) (collectively, the “Privacy Laws”), that is provided or made available to the Asset Representations Reviewer pursuant to this Agreement. 

(b) Non-Disclosure. To the extent the Asset Representations Reviewer receives Personally Identifiable Information
in the performance its obligations hereunder, the Asset Representations Reviewer agrees that it will not disclose or use any Personally Identifiable Information except (i) to the extent necessary to carry out its obligations under the Agreement and
for no other purpose; or (ii) as may be required by valid operation of law. 
 (c) Safeguards. To the extent the
Asset Representations Reviewer receives Personally Identifiable Information in the performance of services under this Agreement, the Asset Representations Reviewer represents and warrants that it has, and will continue to have adequate
administrative, technical, and physical safeguards: (i) to ensure the security and confidentiality of Personally Identifiable Information; (ii) to protect against any anticipated threats or hazards to the security or integrity of Personally
Identifiable Information; and (iii) to protect against unauthorized acquisition of, access to or use of Personally Identifiable Information which could result in a “breach” as that term is defined under applicable Privacy Laws. 

(d) Information. The Asset Representations Reviewer agrees to provide the Issuer and the Sponsor with information
regarding its privacy and information security systems, policies and procedures as the Issuer may reasonably request relating to compliance with this Agreement and applicable Privacy Laws. The Asset Representations Reviewer agrees to provide
training in the Privacy Laws and the Asset Representations Reviewer’s information security policies to all personnel whose duties pursuant to this Agreement could bring them in contact with Personally Identifiable Information. 

  
 15 

 (e) Breach. In the event of any actual or apparent theft,
unauthorized use or disclosure of any Personally Identifiable Information, the Asset Representations Reviewer will commence all reasonable efforts to investigate and correct the causes and remediate the results thereof, and as soon as practicable
following discovery of any such event, provide the Issuer and the Sponsor notice thereof, and such further information and assistance as may be reasonably requested. 

ARTICLE VIII. 
 OTHER
MATTERS PERTAINING TO THE ISSUER 
 Section 8.1 Termination of this Agreement. 

This Agreement will terminate, except for obligations under Section 5.3, Section 5.4, Section 9.13 and
Article VII, on the earlier of (a) the payment in full of all outstanding Notes and the satisfaction and discharge of the Indenture and (b) the date the Issuer is terminated under the Trust Agreement. 

Section 8.2 Limitation of Liability. It is expressly understood and agreed by the parties that (a) this document
is executed and delivered by [                    ], 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, pursuant to the Trust Agreement, (b) each of the representations, warranties, covenants, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal
representations, warranties, covenants undertakings and agreements by [                    ], but is made and intended for the purpose of binding
only the Issuer, (c) nothing herein contained shall be construed as creating any liability on [                    ], individually or personally, to
perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto, and (d) under no circumstances shall
[                    ] 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 under the Notes or any of the other Transaction Documents or in any of the certificates, notices or agreements delivered pursuant thereto,
as to all of which recourse shall be had solely to the assets of the Issuer. 
 ARTICLE IX. 

MISCELLANEOUS PROVISIONS 

Section 9.1 Amendment. 

(a) Any term or provision of this Agreement may be amended by the Sponsor, the Servicer and the Asset Representations Reviewer
without the consent of the Indenture Trustee, any Noteholder, the Issuer, the Owner Trustee or any other Person subject to the satisfaction of one of the following conditions: 

  
 16 

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

(ii) the Rating Agency Condition is satisfied with respect to such amendment and the Servicer notifies the
Indenture Trustee in writing that the Rating Agency Condition is satisfied with respect to such amendment; 
 provided, that no
amendment pursuant to this Section 9.1(a) shall be effective which affects the rights, protections or duties of the Indenture Trustee or the Owner Trustee without the prior written consent of such Person. 

(b) This Agreement may also be amended from time to time by the Sponsor, the Servicer and the Asset Representations Reviewer,
with the consent of the Holders of Notes evidencing not less than a majority of the aggregate principal balance of the Controlling Class, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
this Agreement or of modifying in any manner the rights of the Noteholders, provided, that no amendment pursuant to this Section 9.1(b) shall be effective which affects the rights, protections or duties of the Indenture Trustee or the
Owner Trustee without the prior written consent of such Person. It will not be necessary for the consent of Noteholders to approve the particular form of any proposed amendment or consent, but it will be sufficient if such consent approves the
substance thereof. The manner of obtaining such consents (and any other consents of Noteholders provided for in this Agreement) and of evidencing the authorization of the execution thereof by Noteholders will be subject to such reasonable
requirements as the Indenture Trustee may prescribe, including the establishment of record dates pursuant to the Depository Agreement. 

(c) Any term or provision of this Agreement may also be amended from time to time by the Sponsor, the Servicer and the Asset
Representations Reviewer for the purpose of conforming the terms of this Agreement to the description thereof in the Prospectus or, to the extent not contrary to the Prospectus, to the description thereof in an offering memorandum with respect to
the Non-Investment Grade Notes or the Certificates without the consent of the Indenture Trustee, any Noteholder, the Issuer, the Owner Trustee or any other Person, provided, however, that the Sponsor, the Servicer and the Asset
Representations Reviewer shall provide written notification of the substance of such amendment to the Indenture Trustee, the Issuer and the Owner Trustee and promptly after the execution of such amendment, the Sponsor and the Servicer shall furnish
a copy of such amendment to the Indenture Trustee, the Issuer and the Owner Trustee. 
 (d) Prior to the execution of any
amendment or consent pursuant to this Section 9.1, the Sponsor shall provide written notification of the substance of such amendment to each Rating Agency; and promptly after the execution of any such amendment or consent, the Sponsor shall
furnish a copy of such amendment or consent to each Rating Agency and the Indenture Trustee. 
 (e) Prior to the execution
of any amendment to this Agreement, the Owner Trustee and the Indenture Trustee shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this

  
 17 

 
Agreement and that all conditions precedent to the execution and delivery of such amendment have been satisfied. The Owner Trustee and the Indenture Trustee may, but shall not be obligated
to, enter into any such amendment which adversely affects the Owner Trustee’s or the Indenture Trustee’s, as applicable, own rights, duties or immunities under this Agreement. 

Section 9.2 Notices, Etc. All demands, notices and communications hereunder shall be in writing and shall be
delivered or mailed by registered or certified first-class United States mail, postage prepaid, hand delivery, prepaid courier service, or by facsimile or by electronic transmission, and addressed in each case as specified on Schedule I to
the Servicing Agreement or at such other address as shall be designated by any of the specified addressees in a written notice to the other parties hereto. Delivery shall occur only upon receipt or reported tender of such communication by an
officer of the recipient entitled to receive such notices located at the address of such recipient for notices hereunder. 

Section 9.3 Severability Clause. 

This Agreement constitutes the entire agreement between the Asset Representations Reviewer, the Issuer, the Servicer, and the
Sponsor. All prior representations, statements, negotiations and undertakings with regard to the subject matter hereof are superseded hereby. 

If any term or provision of this Agreement or the application thereof to any person or circumstance shall, to any extent, be
invalid or unenforceable, the remaining terms and provisions of this Agreement, or the application of such terms or provisions to persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected
thereby, and each term and provision of this Agreement shall be valid and enforced to the fullest extent permitted by law. 

Section 9.4 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL,
SUBSTANTIVE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO CONFLICTS OF LAW, OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES
HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 Section 9.5 Headings. The section headings hereof
have been inserted for convenience only and shall not be construed to affect the meaning, construction or effect of this Agreement. 

Section 9.6 Counterparts. This Agreement may be executed in any number of counterparts, each of which so executed
shall be deemed to be an original, but all of such counterparts shall together constitute but one and the same instrument. 

Section 9.7 Waivers. No failure or delay on the part of the Servicer, the Asset Representations Reviewer, the
Issuer or the Indenture Trustee in exercising any power or right hereunder (to the extent such Person has any power or right hereunder) shall operate as a waiver thereof, nor shall any single or partial exercise of any such power or right preclude
any other or further exercise thereof or the exercise of any other power or right. No notice to or demand on 

  
 18 

 
the any party hereto in any case shall entitle it to any notice or demand in similar or other circumstances. No waiver or approval by either party under this Agreement shall, except as may
otherwise be stated in such waiver or approval, be applicable to subsequent transactions. No waiver or approval under this Agreement shall require any similar or dissimilar waiver or approval thereafter to be granted hereunder. 

Section 9.8 Entire Agreement. This Agreement contains a final and complete integration of all prior expressions by
the parties hereto with respect to the subject matter thereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter thereof, superseding all prior oral or written understandings. There are no
unwritten agreements among the parties. 
 Section 9.9 Severability of Provisions. If any one or more of the
covenants, agreements, provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or
terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement. 

Section 9.10 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and permitted assigns. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until such time as the
parties hereto shall agree. 
 Section 9.11 Cumulative Remedies. The remedies herein provided are cumulative and
not exclusive of any remedies provided by law. 
 Section 9.12 Nonpetition Covenant. Each party hereto agrees
that, prior to the date which is one year and one day after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by any Bankruptcy Remote Party (i) such party hereto shall not authorize any
Bankruptcy Remote Party to commence a voluntary winding-up or other voluntary case or other Proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under any bankruptcy, insolvency or
other similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any substantial
part of its property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other Proceeding commenced against such Bankruptcy Remote Party, or to make a general assignment for
the benefit of its creditors generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence, join with any other Person in commencing or institute with any other Person, any Proceeding
against such Bankruptcy Remote Party under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. This Section shall survive the termination of this Agreement. 

Section 9.13 Submission to Jurisdiction; Waiver of Jury Trial. Each of the parties hereto hereby irrevocably and
unconditionally: 

  
 19 

 (a) submits for itself and its property in any legal action or proceeding
relating to this Agreement or any documents executed and delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts of the State of New York, the
courts of the United States of America for the Southern District of New York and appellate courts from any thereof; 
 (b)
consents that any such action or proceeding may be brought and maintained in such courts and waives any objection that it may now or hereafter have to the venue of such action or proceeding in any such court or that such action or proceeding was
brought in an inconvenient court and agrees not to plead or claim the same; 
 (c) agrees that service of process in any
such action or proceeding may be effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Person at its address determined in accordance with Section 9.2 of this
Agreement; 
 (d) agrees that nothing herein shall affect the right to effect service of process in any other manner
permitted by law or shall limit the right to sue in any other jurisdiction; and 
 (e) to the extent permitted by
applicable law, each party hereto irrevocably waives all right of trial by jury in any action, proceeding or counterclaim based on, or arising out of, under or in connection with this Agreement, any other Transaction Document, or any matter arising
hereunder or thereunder. 
 Section 9.14 Third-Party Beneficiaries. This Agreement shall inure to the benefit of
and be binding upon the parties hereto and their respective successors and permitted assigns and the Indenture Trustee shall be an express third-party beneficiary hereof and may enforce the provisions hereof as if it were a party hereto. Except as
otherwise provided in this Section, no other Person will have any right hereunder. 

  
 20 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day
and year first written above. 
  

			
	 THE HUNTINGTON NATIONAL BANK

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 HUNTINGTON AUTO TRUST 20[    ]-[    ]

		
	 By:
	 	
[                    
],

		 	 not in its individual capacity but solely as Owner Trustee

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	
[                    
],

	 as Asset Representations Reviewer

		
	 By:
	 	  

		 	 Name:

		 	 Title:

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