Document:

EX-10.2

 Exhibit 10.2 
  

 
 GMF LEASING LLC, 

as Transferor, 
 and 

GM FINANCIAL AUTOMOBILE LEASING TRUST 2022-3, 

as Transferee 
  

 
 2022-3 EXCHANGE NOTE TRANSFER AGREEMENT 
 Dated as of July 5, 2022 

 
  

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	2	 
			
	 SECTION 1.1.
	 	Definitions	  	 	2	 
		
	 ARTICLE II TRANSFER OF THE TRANSFERRED ASSETS
	  	 	2	 
			
	 SECTION 2.1.
	 	Transfer of the Transferred Assets	  	 	2	 
	 SECTION 2.2.
	 	True Sale	  	 	3	 
	 SECTION 2.3.
	 	Representations and Warranties of the Transferor and the Transferee	  	 	4	 
	 SECTION 2.4.
	 	Financing Statements and Books and Records	  	 	7	 
	 SECTION 2.5.
	 	Covenants of the Transferor	  	 	7	 
	 SECTION 2.6.
	 	Acceptance by the Transferee	  	 	8	 
		
	 ARTICLE III CONDITIONS
	  	 	8	 
			
	 SECTION 3.1.
	 	Conditions Precedent to Transfer	  	 	8	 
		
	 ARTICLE IV MISCELLANEOUS
	  	 	9	 
			
	 SECTION 4.1.
	 	Amendment	  	 	9	 
	 SECTION 4.2.
	 	Governing Law	  	 	10	 
	 SECTION 4.3.
	 	Severability	  	 	10	 
	 SECTION 4.4.
	 	Binding Effect	  	 	10	 
	 SECTION 4.5.
	 	Table of Contents and Headings	  	 	10	 
	 SECTION 4.6.
	 	Counterparts and Consent to Do Business Electronically	  	 	10	 
	 SECTION 4.7.
	 	Further Assurances	  	 	10	 
	 SECTION 4.8.
	 	Third-Party Beneficiaries	  	 	11	 
	 SECTION 4.9.
	 	No Petition	  	 	11	 
	 SECTION 4.10.
	 	Limitation of Liability of Owner Trustee	  	 	11	 
	 SECTION 4.11.
	 	Limited Recourse	  	 	11	 
	 SECTION 4.12.
	 	 Subordination
	  	 	11	 

  

  
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 2022-3 EXCHANGE NOTE TRANSFER AGREEMENT, dated as of
July 5, 2022 (as the same may be amended, restated, supplemented or otherwise modified from time to time, this “Agreement”), between GMF Leasing LLC, a Delaware limited liability company, as transferor (the
“Transferor”), and GM Financial Automobile Leasing Trust 2022-3, a Delaware statutory trust (the “Issuer”), as transferee (the “Transferee”). 

RECITALS 
 WHEREAS, pursuant to
an Amended and Restated Trust Agreement, dated as of January 31, 2011 (the “Titling Trust Agreement”), among APGO Trust, as Settlor, and Wilmington Trust Company, as Owner Trustee, Administrative Trustee and Delaware Trustee,
the Titling Trust (the “Titling Trust”) was continued to, among other things, take assignments and conveyances of and hold in trust various assets (the “Trust Assets”); 

WHEREAS, pursuant to a Second Amended and Restated Credit and Security Agreement, dated as of January 24, 2018 (as the same may be
further amended, restated, supplemented or otherwise modified from time to time, the “Credit and Security Agreement”), among the Titling Trust, the Lender, Computershare Trust Company, N.A. (“Computershare”), as
successor in interest to Wells Fargo Bank, National Association (“Wells Fargo”), as Administrative Agent (in such capacity, the “Administrative Agent”), and Wells Fargo, as Collateral Agent (in such capacity, the
“Collateral Agent”), the Lender has agreed to lend money to the Titling Trust from time to time to acquire Trust Assets and the Lender is entitled, from time to time thereunder, to request that the Titling Trust issue, execute and
deliver Exchange Notes to the Lender representing a portion of the debt incurred by the Titling Trust thereunder; 
 WHEREAS, pursuant to
the Credit and Security Agreement and the 2022-3 Exchange Note Supplement, dated as of July 5, 2022 (as the same may be amended, restated, supplemented or otherwise modified from time to time, the
“2022-3 Exchange Note Supplement”), among the parties to the Credit and Security Agreement, the Titling Trust has so issued, executed and delivered to the Lender such an Exchange Note (the
“2022-3 Exchange Note”); 
 WHEREAS, pursuant to (i) a Third Amended and
Restated Servicing Agreement, dated as of January 24, 2018 (as the same may be further amended, restated, supplemented or otherwise modified from time to time, the “Basic Servicing Agreement”), among the Titling Trust,
AmeriCredit Financial Services, Inc. d/b/a GM Financial (“GM Financial”), as Servicer (in such capacity, the “Servicer”) and Lender, and the Collateral Agent, the Servicer has agreed to perform certain servicing
duties with respect to the Trust Assets and (ii) a 2022-3 Servicing Supplement, dated as of July 5, 2022 (as the same may be amended, restated, supplemented or otherwise modified from time to time,
the “2022-3 Servicing Supplement”), among the Titling Trust, the Servicer, the Lender, the Collateral Agent and Computershare, as Indenture Trustee, the Servicer has agreed to perform certain
additional and/or revised servicing duties with respect to those Trust Assets comprising the 2022-3 Designated Pool relating to the 2022-3 Exchange Note; 

 WHEREAS, the Lender has agreed to transfer and assign, without recourse, all of its right,
title and interest in the 2022-3 Exchange Note and certain related property to the Transferor pursuant to an 2022-3 Exchange Note Sale Agreement, dated as of
July 5, 2022 (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “2022-3 Exchange Note Sale Agreement”), among the Lender and the Depositor,
as transferee (in such capacity, the “Sale Agreement Transferee”); 
 WHEREAS, the Transferee is governed by its Amended
and Restated Trust Agreement, dated as of July 5, 2022 (the “Trust Agreement”), between the Transferor and Wilmington Trust Company, as Owner Trustee (not in its individual capacity, but solely as Owner Trustee, the
“Owner Trustee”); and 
 WHEREAS, the Transferor and the Transferee desire to provide for the transfer and assignment by
the Transferor to the Transferee, without recourse, of all of the Transferor’s right, title and interest in the Transferred Assets (as defined below). 

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

DEFINITIONS 
 SECTION 1.1.
Definitions. Capitalized terms used in this Agreement that are not otherwise defined herein shall have the meanings assigned to them in Appendix 1 to the 2022-3 Exchange Note Supplement or, if not
defined therein, in Appendix A to the Credit and Security Agreement. 
 ARTICLE II 

TRANSFER OF THE TRANSFERRED ASSETS 

SECTION 2.1. Transfer of the Transferred Assets. 

(a) Effective as of the 2022-3 Closing Date and immediately after the transactions contemplated by the
2022-3 Exchange Note Sale Agreement and the Trust Agreement and immediately before the transaction contemplated by the Indenture, the Transferor sells and assigns to the Transferee, without recourse, all
right, title and interest of the Transferee, whether now owned or hereafter acquired, in the following “Transferred Assets”: 

(i) the 2022-3 Exchange Note; 

(ii) all of the Lender’s rights and benefits, as Exchange Noteholder of the 2022-3
Exchange Note under the 2022-3 Exchange Note, the Credit and Security Agreement, the 2022-3 Exchange Note Supplement and the
2022-3 Servicing Agreement; 
 (iii) all of the Depositor’s rights and benefits,
as Exchange Noteholder of the 2022-3 Exchange Note under the 2022-3 Exchange Note, the Credit and Security Agreement, the 2022-3
Exchange Note Supplement and the 2022-3 Servicing Agreement; 

  
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 (iv) all of the Transferor’s rights and benefits, as Sale Agreement
Transferee under the 2022-3 Exchange Note Sale Agreement (including, without limitation, its rights pursuant to Section 2.5 thereof); and 

(v) all proceeds, accounts, money, general intangibles, instruments, chattel paper, goods, investment property and other
property consisting of, arising from or relating to the foregoing. 
 (b) In consideration for (i) the Transferred Assets, and
(ii) the Transferor’s performance of its obligations under Section 2.14(a) of the 2022-3 Servicing Supplement to deposit the Specified Reserve Balance into the Reserve Account on the 2022-3 Closing Date, the Transferee will transfer to the Transferor, without recourse, all right, title and interest of the Transferee, whether now owned or hereafter acquired, in, to and under the Notes and the
rights to distributions under Section 8.3 of the Indenture, as payment for the Transferred Assets. 
 (c) The sale, transfer,
assignment and conveyance of the Transferred Assets pursuant to this Agreement is without recourse, and the Transferor does not guarantee payment on the 2022-3 Exchange Note or any collection of underlying
asset included in the 2022-3 Designated Pool. 
 SECTION 2.2. True Sale. 

(a) The parties hereto intend that the sale, transfer, assignment and conveyance of the Transferred Assets hereunder constitutes a true sale
and assignment of the Transferred Assets such that any interest in and title to the Transferred Assets would not be property of the Transferor’s estate in the event the Transferor becomes a debtor in a case under any Insolvency Law. To the
extent that the conveyance of the Transferred Assets hereunder is characterized by a court or similar Governmental Authority as a financing (a “Recharacterization”), it is intended by the Transferor and the Transferee that the
interest conveyed constitute a grant of a first priority perfected security interest under the UCC as in effect in the State of New York by the Transferor to the Transferee to secure the sale price of the Transferred Assets to the Transferor. The
Transferor does hereby grant to the Transferee a security interest in and to all of its rights, title and privileges and interest, whether now owned or existing or hereafter acquired or arising, in the Transferred Assets and the parties hereto agree
that this Agreement constitutes a “security agreement” under all applicable law. In the case of any Recharacterization, each of the Transferor and the Transferee represents and warrants as to itself that each remittance of 2022-3 Exchange Note Collections made to the Transferee will have been (i) in payment of a debt incurred by the Transferor in the ordinary course of business or financial affairs of the Transferor and the
Transferee, and (ii) made in the ordinary course of business or financial affairs of the Transferor and the Transferee. 
 (b) The
Transferor makes the following representations and warranties to the Transferee in the event that, notwithstanding the express intent of the parties, the sale, transfer, assignment and conveyance of the Transferred Assets hereunder is not a true
sale and assignment of the Transferred Assets to the Transferee. The representations and warranties speak as of the 2022-3 Closing date and shall survive the sale of the Transferred Assets to the Transferee
hereunder and the pledge thereof by the Transferee to the Indenture Trustee pursuant to the Indenture. 

  
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 (i) This Agreement creates a valid and continuing security interest (as
defined in the UCC) in the Transferred Assets in favor of the Transferee, which security interest is prior to all other Liens, and is enforceable as such as against creditors of and purchasers from the Transferor. 

(ii) The 2022-3 Exchange Note constitutes a “certificated security”
within the meaning of the relevant UCC. 
 (iii) The Transferor has caused or will have caused, within ten (10) days,
the filing of all appropriate financing statements in the proper filing offices in the appropriate jurisdictions under applicable law in order to perfect the Transferee’s security interest in the Transferred Assets. 

(iv) Other than the security interest granted to the Transferee pursuant to this Agreement, the Transferor has not pledged,
assigned, sold, granted a security interest in, or otherwise conveyed the Transferred Assets. The Transferor has not authorized the filing of and is not aware of any financing statements against the Transferor that include a description of
collateral covering the Transferred Assets other than any financing statement relating to the security interest granted to the Transferee hereunder or that has been terminated. The Transferor is not aware of any judgment or tax lien filings against
it. 
 SECTION 2.3. Representations and Warranties of the Transferor and the Transferee. 

(a) The Transferor hereby represents and warrants to the Transferee as of the 2022-3 Closing Date
that: 
 (i) Organization and Good Standing. The Transferor is a limited liability company duly formed, validly
existing and in good standing under the laws of the State of Delaware, and has power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted, and had at all
relevant times, and shall have, power, authority and legal right to acquire, own and sell the Transferred Assets. 
 (ii)
Due Qualification. The Transferor is duly qualified to do business as a foreign limited liability company in good standing, and has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property
or the conduct of its business shall require such qualifications, except where the failure to have any such license, approval or qualification could not reasonably be expected to have a material adverse effect with respect to the Transferor. 

(iii) Power and Authority. The Transferor has the power and authority to execute and deliver this Agreement and all
other Program Documents to which it is a party and to carry out their respective terms; and the execution, delivery and performance of this Agreement and all other Program Documents to which it is a party have been or will be duly authorized by the
Transferor by all necessary action. 

  
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 (iv) Binding Obligation. Each of this Agreement and all other Program
Documents to which the Transferor is a party constitutes a legal, valid and binding obligation of the Transferor, enforceable against it in accordance with its terms, except as enforceability may be subject to or limited by bankruptcy, insolvency,
reorganization, moratorium, liquidation or other similar laws affecting the enforcement of creditors’ rights in general and by general principles of equity, regardless of whether such enforceability shall be considered in a proceeding in equity
or at law. 
 (v) No Violation. The execution, delivery and performance by the Transferor of this Agreement and all
other Program Documents to which it is a party will not violate any Requirement of Law or Contractual Obligation applicable to the Transferor, and will not, except as otherwise provided herein, result in, or require, the creation or imposition of
any Lien on any of its property, assets or revenues pursuant to any such Requirement of Law or Contractual Obligation, except as contemplated hereby. 

(vi) No Proceedings. There are no proceedings or investigations pending or, to the best of its knowledge, threatened
before any court, arbitrator or other Governmental Authority having jurisdiction over the Transferor or any of its properties which could reasonably be expected to have a material adverse effect with respect to the Transferor. 

(vii) No Consent. Except as expressly contemplated by the Program Documents, no consent or authorization of, filing
with, or other act by or in respect of, any Governmental Authority or any other Person is required in connection with its execution, delivery or performance or the validity or enforceability against the Transferor of the Program Documents. 

(viii) No Default. The Transferor is not in default in any material respect under or with respect to any of its
Contractual Obligations. 
 (ix) Compliance with Law. The Transferor has complied in all material respects with all
Requirements of Law. 
 (x) Title to Transferred Assets. Immediately prior to the transfer of the Transferred Assets
pursuant to this Agreement, the Transferor (A) is the true and lawful owner of the Transferred Assets and it has the legal right to transfer the Transferred Assets, (B) has good and valid title to the Transferred Assets and the Transferred
Assets are on such date free and clear of all Liens and (C) will convey good, valid and indefeasible title to the Transferred Assets to the Transferee under this Agreement. 

(xi) Investment Company Act. The Transferor is not an “investment company” within the meaning of the
Investment Company Act of 1940. 
 (xii) Solvency of the Transferor. The Transferor is, and after giving effect to the
transactions contemplated to occur on such date, will be, Solvent and is not the subject of any Insolvency Event. 

  
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 (xiii) Tax Returns. The Transferor has filed or caused to be filed
all tax returns which are required to be filed and has paid all taxes shown to be due and payable on said returns or on any assessments made against it or any of its property and has paid or properly accrued and provided for payment at such time as
is required or permitted all other taxes, fees or other charges imposed on it or any of its property by any Governmental Authority (other than any of the amount or validity of which is currently being contested in good faith by appropriate
proceedings and with respect to which reserves in conformity with GAAP have been provided on the books and records of the Transferor); no tax Lien has been filed and, to the knowledge of the Transferor, no claim is being asserted with respect to any
such tax, fee or other charge. 
 (b) The Transferee hereby represents, and warrants to the Transferor as of the 2022-3 Closing Date that: 
 (i) Organization and Good Standing. The Transferee is a
statutory trust duly formed, validly existing; and in good standing under the laws of the State of Delaware, and has power and authority to own its properties and to conduct its business as such properties are currently owned and such business is
presently conducted, and had at all relevant times, and shall have, power, authority and legal right to acquire, own and pledge the Transferred Assets. 

(ii) Due Qualification. The Transferee is duly qualified to do business as a foreign statutory trust in good standing,
and has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications, except where the failure to have any such license, approval or
qualification could not reasonably be expected to have a material adverse effect with respect to the Transferee. 
 (iii)
Power and Authority. The Transferee has the power and authority to execute and deliver this Agreement and all other Program Documents to which it is a party and to carry out its terms; and the execution, delivery and performance of this
Agreement and all other Program Documents to which it is a party have been duly authorized by the Transferee by all necessary action. 

(iv) Binding Obligation. Each of this Agreement and all other Program Documents to which the Transferee is a party
constitutes a legal, valid and binding obligation of the Transferee, enforceable against it in accordance with its terms, except as enforceability may be subject to or limited by bankruptcy, insolvency, reorganization, moratorium, liquidation or
other similar laws affecting the enforcement of creditors’ rights in general and by general principles of equity, regardless of whether such enforceability shall be considered in a proceeding in equity or at law. 

(v) No Violation. The execution, delivery and performance by the Transferee of this Agreement and all other Program
Documents to which it is a party will not violate any Requirement of Law or Contractual Obligation applicable to the Transferee, and will not, except as otherwise provided herein, result in, or require, the creation or imposition of any Lien on any
of its property, assets or revenues pursuant to any such Requirement of Law or Contractual Obligation. 

  
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 (vi) No Proceedings. There are no proceedings or investigations
pending or, to the best of its knowledge, threatened before any court, arbitrator or other Governmental Authority having jurisdiction over the Transferee or any of its properties which could reasonably be expected to have a material adverse effect
with respect to the Transferee. 
 (vii) No Consent. Except as expressly contemplated by the Program Documents, no
consent or authorization of, filing with, or other act by or in respect of, any Governmental Authority or any other Person is required in connection with its execution, delivery or performance or the validity or enforceability against the Transferee
of the Program Documents. 
 (c) The representations and warranties set forth in this Section shall survive the transfer, sale, assignment
and conveyance of the Transferred Assets by the Transferor to the Transferee and the pledge of the Transferred Assets by the Transferee to the Indenture Trustee pursuant to the Indenture. Upon discovery by the Transferor or the Transferee of a
breach of any of the foregoing representations and warranties, the party discovering such breach shall give prompt written notice to the other, the Noteholders and the Indenture Trustee. 

SECTION 2.4. Financing Statements and Books and Records. 

(a) In connection with the conveyance of the Transferred Assets hereunder, the Transferor agrees that on or prior to the 2022-3 Closing Date, it will deliver at the direction of the Lender to the Transferee, with all requisite endorsements, the 2022-3 Exchange Note and will file, at its own
expense, one or more financing statements with respect to the Transferred Assets meeting the requirements of applicable State law in such manner as necessary to perfect the transfer of the Transferred Assets to the Transferee, and the proceeds
thereof (and any continuation statements as are required by applicable State law), and to deliver a file-stamped copy of each such financing statement (or continuation statement) or other evidence of such filings (which may, for purposes of this
Section, consist of telephone confirmation of such filings with the file stamped copy of each such filings to be provided to the Transferee in due course), as soon as is practicable after receipt by the Transferor thereof. 

(b) The Transferor further agrees that it will treat the transfers of the Transferred Assets as a sale for accounting purposes, take no
actions inconsistent with the Transferee’s ownership of the assets sold to the Transferee pursuant to Section 2.1 hereof and on the 2022-3 Closing Date indicate on its books, records and statements
that the Transferred Assets have been sold to the Transferee. 
 SECTION 2.5. Covenants of the Transferor. Until the date on
which all Issuer Obligations are paid in full: 
 (a) Preservation of Existence. The Transferor shall preserve, renew and keep in full
force and effect its existence and good standing and take all necessary action to maintain all rights, privileges and franchises necessary or desirable in the normal conduct of its business and comply with all Contractual Obligations, including,
without limitation, all its obligations under the Program Documents, and all Requirements of Law. 

  
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 (b) Payment of Taxes. The Transferor shall file (or cause to be filed on its behalf
as a member of a consolidated group) all tax returns required by law to be filed by it and pay all taxes, assessments and governmental charges shown to be owing by it, except for any such taxes, assessments or charges which are not yet delinquent or
are being diligently contested in good faith by appropriate proceedings, for which adequate reserves in accordance with GAAP shall have been set aside on its books and that have not given rise to any Liens. 

(c) Books and Records. The Transferor shall keep proper books and records of account in which full, true and correct entries in
conformity with GAAP and all Requirements of Law shall be made of all dealings and transactions in relation to its business and activities; and, at its expense, shall permit representatives or designees of the Indenture Trustee, the Owner Trustee or
any Noteholder or their duly authorized attorneys or auditors to visit and inspect any of its properties, to examine and make abstracts from any of its books and records and to discuss its affairs, finances and accounts with its officers, directors;
employees and independent public accountants, all at such reasonable times upon reasonable notice and as often as may reasonably be requested. 

(d) Maintenance of Separate Existence. The Transferor shall do all things necessary to remain readily distinguishable from GM Financial
and its Affiliates (other than the Transferee) and maintain its limited liability company existence separate and apart from that of the Transferee, including maintaining in place all policies and procedures and taking all action, described in the
factual assumptions set forth in the opinion letter of Katten Muchin Rosenman LLP, dated August 17, 2022, addressing the issues of substantive consolidation as they may relate to the Transferee, the Transferor and the Titling Trust on the one
hand and GM Financial on the other hand. 
 SECTION 2.6. Acceptance by the Transferee. The Transferee agrees to comply with
all covenants and restrictions applicable to an Exchange Noteholder of the 2022-3 Exchange Note, whether set forth in the 2022-3 Exchange Note, in the Credit and
Security Agreement, in the 2022-3 Exchange Note Supplement or otherwise, and assumes all obligations and liabilities, if any, associated therewith. 

ARTICLE III 
 CONDITIONS 

SECTION 3.1. Conditions Precedent to Transfer. The effectiveness of this Agreement and of the obligation of the Transferee to
purchase, and of the Transferor to sell, the Transferred Assets in accordance with the terms hereof is subject to the satisfaction of the following conditions: 

(a) Agreement. The Transferee shall have received this Agreement, duly executed and delivered by the Transferor. 

  
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 (b) 2022-3 Exchange Note Sale Agreement. The
Transferee shall have received the 2022-3 Exchange Note Sale Agreement, duly executed and delivered by the Transferor and the Lender. 

(c) 2022-3 Exchange Note Supplement. The Transferee shall have received the 2022-3 Exchange Note Supplement, duly executed and delivered by the parties thereto. 
 (d) 2022-3 Servicing Agreement. The Transferee shall have received the 2022-3 Servicing Agreement, duly executed and delivered by the parties thereto. 

(e) Effective Date. All conditions set forth in Section 6 of the Underwriting Agreement shall have been satisfied. 

(f) Depositor Certificate of Formation; Limited Liability Company Agreement. The Transferee shall have received a true and complete
copy of certificate of formation and the limited liability company agreement of the Transferor, each certified as a true and correct copy by an Authorized Officer of the Transferor. 

(g) Lien Searches. The Transferee shall have received certified copies of requests for information or copies dated a date reasonably
near the date hereof listing all effective financing statements which name the Transferor (under its present name or any previous name) as transferor or debtor and which are filed in jurisdictions in which the filings were made pursuant to item
(h) below and in any other jurisdictions that are necessary or appropriate, together with copies of such financing statements (none of which shall cover any 2022-3 Lease Agreements or other 2022-3 Exchange Note Assets, except any filing made in connection with a security interest granted under the Credit and Security Agreement), and tax and judgment lien searches showing no such liens that are not
permitted by the Program Documents. 
 (h) UCCs. The Transferee shall have received acknowledgement copies of proper financing
statements (Form UCC-1), naming the Transferor as the seller (debtor) of the Transferred Assets the Transferee as buyer (secured party) or other similar instruments or documents as may be necessary or in the
opinion of the Transferee desirable under the UCC or any comparable law to perfect the Transferee’s interest in the Transferred Assets and executed copies of proper financing statements (Form UCC-3), if
any, necessary to release all security interests and other rights of any Person in the Transferred Assets previously granted by the Transferor. 

ARTICLE IV 
 MISCELLANEOUS 

SECTION 4.1. Amendment. 

(a) This Agreement may be amended by the parties hereto, with the prior written consent of the Indenture Trustee (acting at the direction of
the Majority Noteholders). 
 (b) The parties hereto acknowledge and agree that the right of the Indenture Trustee to consent to any
amendment of this Agreement is subject to the terms and provisions of Section 3.7(g) of the Indenture and that any consent provided by the Indenture Trustee in violation of such terms and provisions shall be of no force or effect hereunder.

  
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 SECTION 4.2. Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO OTHERWISE APPLICABLE PRINCIPLES OF CONFLICTS OF LAW (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

 SECTION 4.3. Severability. 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 and terms of this Agreement, as applicable, and shall in no way affect the
validity or enforceability of the other covenants, agreements, provisions and terms of this Agreement. 
 SECTION 4.4. Binding
Effect. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their permitted successors and assigns. 

SECTION 4.5. Table of Contents and Headings. The Table of Contents and Article and Section headings herein are for convenience of
reference only and shall not define or limit any of the terms or provisions hereof. 
 SECTION 4.6. Counterparts and Consent to Do
Business Electronically. This Agreement may be executed in multiple counterparts, each of which shall be deemed to be an original, but together they shall constitute one and the same instrument. Facsimile and .pdf signatures shall be
deemed valid and binding to the same extent as the original and the parties affirmatively consent to the use thereof, with no such consent having been withdrawn. Each party agrees that this Agreement and any documents to be delivered in connection
with this Agreement may be executed by means of an electronic signature that complies with the federal Electronic Signatures in Global and National Commerce Act, state enactments of the Uniform Electronic Transactions Act, and/or any other relevant
electronic signatures law, in each case to the extent applicable. Any electronic signatures appearing on this Agreement and such other documents are the same as handwritten signatures for the purposes of validity, enforceability, and admissibility.
Each party hereto shall be entitled to conclusively rely upon, and shall have no liability with respect to, any electronic signature or faxed, scanned, or photocopied manual signature of any other party and shall have no duty to investigate, confirm
or otherwise verify the validity or authenticity thereof. 
 SECTION 4.7. Further Assurances. Each party hereto shall do such
acts, and execute and deliver to the other party such additional documents or instruments as may be reasonably requested in order to effect the purposes of this Agreement and to better assure and confirm unto the requesting party its rights, powers
and remedies hereunder. For the avoidance of doubt, the parties hereto agree to take all necessary actions (including filing of financing statements in accordance with the relevant UCC) to maintain perfections with respect to the Transferred Assets.

  
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 SECTION 4.8. Third-Party Beneficiaries. This Agreement shall inure to the
benefit of and be binding upon the parties hereto and each 2022-3 Exchange Noteholder or Pledgee of the 2022-3 Exchange Note and each Noteholder who shall be considered
third-party beneficiaries hereof. Except as otherwise provided in this Agreement, no other Person shall have any right or obligation hereunder. 

SECTION 4.9. No Petition. Each of the parties hereto, by entering into this Agreement, hereby covenants and agrees that it will
not institute, or join in instituting, any bankruptcy, reorganization, arrangement, insolvency or liquidation Proceeding, or other Proceeding under any Insolvency Law for a period of one (1) year and one (1) day after the date upon which
all the Notes and all other Issuer Obligations have been paid in full, against the Titling Trust or the Issuer. 
 SECTION 4.10.
Limitation of Liability of Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Wilmington Trust Company, not individually or personally but solely as
Owner Trustee of the Transferee, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (b) each of the representations, covenants, undertakings and agreements herein made on the part of the Transferee
is made and intended not as personal representations, undertakings and agreements by Wilmington Trust Company but is made and intended for the purpose for binding only the Transferee, (c) nothing herein contained shall be construed as creating
any liability on Wilmington Trust Company, individually or personally, to perform any covenant either express or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and any Person claiming by, through
or under the parties hereto, (d) Wilmington Trust Company has made no investigation as to the accuracy or completeness of any representations or warranties made by the Issuer in this Agreement, and (e) under no circumstances shall
Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Transferee or be liable for the breach or failure of any obligation, duty (including fiduciary duty, if any), representation, warranty or covenant
made or undertaken by the Transferee under this Agreement or the other related documents. 
 SECTION 4.11. Limited Recourse.
Each of the parties hereto, by entering into this Agreement, agrees that any claim that the Transferor or the Transferee may seek to enforce against each other is limited to the Transferred Assets only and does not represent a claim against the
assets of the Transferor or the Transferee as a whole or any assets other than the Transferred Assets. 
 SECTION 4.12.
Subordination. 
 (a) The Transferor and the Transferee agree that any claim that the Transferor or the Transferee may seek to
enforce at any time against any assets of the Transferor or the Transferee other than the Transferred Assets, will be subordinate to payment in full of all other claims with respect to such other assets. However, this Section will not limit,
subordinate or otherwise modify any claims against the Transferor or the Transferee with respect to any right to indemnification or other obligation of the Transferor or the Transferee relating to (i) the Transferred Assets, (ii) any
related credit enhancement, (iii) any transaction entered into in connection with the Transferred Assets, (iv) any administrative services performed in connection 

  
 11 

 
with the Transferred Assets, or (v) any obligation to any Person acting as a trustee or an administrator. The Transferee hereby releases all claims to the assets of the Titling Trust that
are not allocated to the 2022-3 Designated Pool, and, in the event that such release is not given effect, the Transferee hereby agrees to fully subordinate any claims it may have against such other assets of
the Titling Trust. 
 (b) The Transferor agrees that any claim the Transferor may seek to enforce against the Transferee or any of its
assets will be subordinate to the payment in full of the principal of and interest on the Notes and all other Issuer Obligations. 
 (c) The
parties to this Agreement intend that Section 4.12(a) constitutes an enforceable subordination agreement under Section 510(a) of the Bankruptcy Code. 

[Remainder of This Page Intentionally Left Blank] 

  
 12 

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

			
	GMF LEASING LLC, as Transferor
		
	By:	 	 
	Name:	 	
	Title:	 	
	
	GM FINANCIAL AUTOMOBILE LEASING TRUST 2022-3, as Transferee
		
	By:	 	Wilmington Trust Company, not in its individual capacity but solely as Owner Trustee
		
	By:	 	 
	Name:	 	
	Title:	 	

 [Signature Page to the 2022-3 Exchange Note Transfer Agreement]EX-10.4

 Exhibit 10.4 
  

 
 ACAR LEASING LTD., 

as the Titling Trust 
 GM
FINANCIAL, 
 as Servicer 
 APGO
TRUST, 
 as Settlor 

COMPUTERSHARE TRUST COMPANY, N.A., 

as Indenture Trustee 
 and 

WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Collateral Agent 
  

 
 2022-3 SERVICING SUPPLEMENT 
 Dated as of July 5, 2022 

 
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
		
	ARTICLE I DEFINITIONS AND INTERPRETIVE PROVISIONS	  	2
			
	 SECTION 1.1.
	  	 General Definitions
	  	2
		
	ARTICLE II SERVICING OF 2022-3 DESIGNATED POOL	  	2
			
	 SECTION 2.1.
	  	 Servicing of 2022-3 Designated Pool
	  	2
	 SECTION 2.2.
	  	 Identification of 2022-3 Lease Agreements and
2022-3 Leased Vehicles; Securitization Value
	  	2
	 SECTION 2.3.
	  	 Accounts
	  	2
	 SECTION 2.4.
	  	 General Provisions Regarding Accounts
	  	4
	 SECTION 2.5.
	  	 Reallocation and Repurchase of 2022-3 Lease Agreements and 2022-3 Leased Vehicles; Purchase of
 Matured Vehicles
	  	6
	 SECTION 2.6.
	  	 2022-3 Designated Pool Collections
	  	8
	 SECTION 2.7.
	  	 Servicing Compensation; Expenses
	  	8
	 SECTION 2.8.
	  	 Third Party Claims
	  	8
	 SECTION 2.9.
	  	 Reporting by the Servicer; Delivery of Certain Documentation; Inspection; Asset-Level Information
	  	9
	 SECTION 2.10.
	  	 Annual Independent Accountant’s Report
	  	10
	 SECTION 2.11.
	  	 Servicer Defaults; Termination of the Servicer
	  	11
	 SECTION 2.12.
	  	 Representations and Warranties
	  	13
	 SECTION 2.13.
	  	 Custody of Lease Documents
	  	13
	 SECTION 2.14.
	  	 Reserve Account
	  	14
	 SECTION 2.15.
	  	 Liability of Successor Servicer
	  	14
	 SECTION 2.16.
	  	 Merger or Consolidation of, or Assumption of Obligations of the Servicer
	  	15
	 SECTION 2.17.
	  	 Resignation of the Servicer
	  	15
	 SECTION 2.18.
	  	 Separate Existence
	  	15
	 SECTION 2.19.
	  	 Like Kind Exchange Program; Pull Ahead Program
	  	16
	 SECTION 2.20.
	  	 Dispute Resolution
	  	17
		
	ARTICLE III MISCELLANEOUS	  	20
			
	 SECTION 3.1.
	  	 Termination of 2022-3 Servicing Supplement
	  	20
	 SECTION 3.2.
	  	 Amendment
	  	20
	 SECTION 3.3.
	  	 GOVERNING LAW
	  	20
	 SECTION 3.4.
	  	 Relationship of 2022-3 Servicing Supplement to Other Trust Documents
	  	20
	 SECTION 3.5.
	  	 [Reserved]
	  	21
	 SECTION 3.6.
	  	 Notices
	  	21
	 SECTION 3.7.
	  	 Severability of Provisions
	  	21
	 SECTION 3.8.
	  	 Binding Effect
	  	21

  
 i 

							
	 SECTION 3.9.
	  	 Table of Contents and Headings
	  	 	21	 
	 SECTION 3.10.
	  	 Counterparts and Consent to Do Business Electronically
	  	 	21	 
	 SECTION 3.11.
	  	 Further Assurances
	  	 	21	 
	 SECTION 3.12.
	  	 Third-Party Beneficiaries
	  	 	22	 
	 SECTION 3.13.
	  	 No Petition
	  	 	22	 
	 SECTION 3.14.
	  	 Limitation of Liability
	  	 	22	 
	 SECTION 3.15.
	  	 Preparation of Securities and Exchange Commission Filings
	  	 	22	 
	 SECTION 3.16.
	  	 Review Reports
	  	 	23	 
	 SECTION 3.17.
	  	 Regulation RR Risk Retention
	  	 	23	 
			
	EXHIBITS	  		  			
		
	Exhibit A – Form of Servicer Report.	  	 	A-1	 

  
 ii 

 2022-3 SERVICING SUPPLEMENT, dated as of
July 5, 2022 (as the same may be amended, restated, supplemented or otherwise modified from time to time, this “2022-3 Servicing Supplement” or this “Agreement”), among
ACAR Leasing Ltd., a Delaware statutory trust (the “Titling Trust”), AmeriCredit Financial Services, Inc. d/b/a GM Financial, a Delaware corporation (“GM Financial”), as servicer (in such capacity, the
“Servicer”), APGO Trust (“APGO”), a Delaware statutory trust, as settlor of the Titling Trust (in such capacity, the “Settlor”), Wells Fargo Bank, National Association (“Wells
Fargo”), a national banking association, as collateral agent (in such capacity, the “Collateral Agent”), and Computershare Trust Company, N.A. (“Computershare”), as indenture trustee (in such capacity, the
“Indenture Trustee”). 
 RECITALS 

WHEREAS, pursuant to an Amended and Restated Trust Agreement, dated as of January 31, 2011 (the “Titling Trust
Agreement”), between APGO as settlor (the “Settlor”) and Wilmington Trust Company, as owner trustee (in such capacity, the “Owner Trustee”), administrative trustee (in such capacity, the
“Administrative Trustee”) and Delaware trustee (in such capacity, the “Delaware Trustee”), the Titling Trust was created to, among other things, take assignments and conveyances of and hold in trust various assets
(the “Trust Assets”); 
 WHEREAS, the Titling Trust, the Servicer, the Settlor and the Collateral Agent, have entered into
a Third Amended and Restated Servicing Agreement, dated as of January 24, 2018 (as the same may be further amended, restated, supplemented or otherwise modified from time to time, the “Basic Servicing Agreement”), which
provides for, among other things, the servicing of the Trust Assets by the Servicer; and 
 WHEREAS, the parties hereto acknowledge that in
connection with the execution of the 2022-3 Exchange Note Supplement, dated as of July 5, 2022 (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “2022-3 Exchange Note Supplement”) to the Second Amended and Restated Credit and Security Agreement, dated as of January 24, 2018 (as the same may be further amended, restated, supplemented or otherwise
modified from time to time, the “Credit and Security Agreement”), each among the Titling Trust, as borrower, GM Financial, as lender and Servicer, Computershare, as successor in interest to Wells Fargo, as Administrative Agent, and
Wells Fargo, as Collateral Agent, pursuant to which an Exchange Note (the “2022-3 Exchange Note”) will be created, it is necessary and desirable to enter into a supplement to the Basic
Servicing Agreement to provide for, among other things, the servicing of the Trust Assets allocated to the 2022-3 Designated Pool. 

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

 DEFINITIONS AND INTERPRETIVE PROVISIONS 

SECTION 1.1. General Definitions. Capitalized terms used in this 2022-3 Servicing
Supplement that are not otherwise defined herein shall have the meanings assigned to them in Appendix 1 to the 2022-3 Exchange Note Supplement or, if not defined therein, in Appendix A to the Credit and
Security Agreement. The “Other Definitional Provisions” set forth in Section 1.2 of the Basic Servicing Agreement are incorporated by reference into this 2022-3 Servicing Supplement. 

ARTICLE II 
 SERVICING OF 2022-3 DESIGNATED POOL 
 SECTION 2.1. Servicing of 2022-3
Designated Pool. The parties hereto agree that the Servicer shall service, administer and make collections on the 2022-3 Designated Pool in accordance with the terms and provisions of the Basic
Servicing Agreement, as amended and supplemented by the terms and provisions of this 2022-3 Servicing Supplement. 

SECTION 2.2. Identification of 2022-3 Lease Agreements and
2022-3 Leased Vehicles; Securitization Value. On the 2022-3 Closing Date, the Servicer shall identify as 2022-3
Exchange Note Assets the Lease Agreements and the Leased Vehicles relating to such Lease Agreements listed on the Schedule of 2022-3 Lease Agreements and 2022-3 Leased
Vehicles attached as Schedule A to the 2022-3 Exchange Note Supplement. The Servicer shall calculate the Securitization Value for each 2022-3 Lease Agreement as of the
Cutoff Date. 
 SECTION 2.3. Accounts. 

(a) The Indenture Trustee shall cause to be established a 2022-3 Eligible Deposit Account in the name
of and under the control of the Indenture Trustee for the benefit of the Noteholders (said account being called the “2022-3 Exchange Note Collections Account” and being initially identified as
“GM Financial 2022-3 Exchange Note Collections Account”). Deposits to and withdrawals from the 2022-3 Exchange Note Collections Account shall be made as set
forth in the 2022-3 Servicing Agreement, the 2022-3 Exchange Note Supplement and the Indenture. 

(b) The Indenture Trustee shall cause to be established a 2022-3 Eligible Deposit Account in the name
of and under the control of the Indenture Trustee for the benefit of the Noteholders (said account being called the “Indenture Collections Account” and being initially identified as “GM Financial
2022-3 Indenture Collections Account”) at the Collateral Agent. Deposits to and withdrawals from the 2022-3 Indenture Collections Account shall be made as set forth
in the 2022-3 Exchange Note Supplement and the Indenture. 

  
 2 

 (c) The Indenture Trustee shall cause to be established a
2022-3 Eligible Deposit Account in the name of and under the control of the Indenture Trustee for the benefit of the Noteholders (said account being called the “Note Payment Account” and being
initially identified as “GM Financial 2022-3 Note Payment Account”) at the Collateral Agent. Deposits to and withdrawals from the Note Payment Account shall be made as set forth in the Indenture.

 (d) The Indenture Trustee shall cause to be established a 2022-3 Eligible Deposit Account in the
name of and under control of the Indenture Trustee for the benefit of the Noteholders (said account being called the “Reserve Account” and being initially identified as “GM Financial
2022-3 Reserve Account”) at the Collateral Agent. 
 (e) All monies deposited from time to time
in the Accounts pursuant to this 2022-3 Servicing Supplement and the other Program Documents and the Accounts shall be held by the Collateral Agent in the name of the Indenture Trustee as part of the Indenture
Collateral and shall be applied to the purposes herein and therein provided. If any Account shall cease to be a 2022-3 Eligible Deposit Account, the Indenture Trustee and the Collateral Agent shall, as
necessary, assist the Servicer in causing such Account to be moved to an institution at which it shall be a 2022-3 Eligible Deposit Account. 

(f) If, at any time, any of the Accounts ceases to be a 2022-3 Eligible Deposit Account, the Servicer
shall within thirty (30) days (or such longer period as to which the Rating Agencies rating any securities backed by the related Exchange Note may consent) establish a new Account as a 2022-3 Eligible
Deposit Account and shall transfer any cash and/or any investments on deposit or credited to such earlier existing Account into such new Account. 

(g) The Collateral Agent or Person holding the Accounts shall be the “Securities Intermediary” with respect to the Accounts.
If the Securities Intermediary in respect of the Accounts is not the Collateral Agent, the Servicer shall obtain the express agreement of such Person to the obligations of the Securities Intermediary set forth in this Section 2.3(g). The
Securities Intermediary agrees that: 
 (i) Each of the Accounts is an account to which “financial assets” within
the meaning of Section 8-102(a)(9) (“Financial Assets”) of the UCC in effect in the State of New York will be credited; 

(ii) All securities or other property underlying any Financial Assets credited to any Account shall be registered in the name
of the Securities Intermediary, endorsed to the Securities Intermediary or in blank or credited to another securities account maintained in the name of the Securities Intermediary and in no case will any Financial Asset credited to an Account be
registered in the name of the Issuer, payable to the order of the Issuer or specially endorsed to the Issuer; 
 (iii) All
property delivered to the Securities Intermediary pursuant to the 2022-3 Servicing Agreement and the Indenture will be promptly credited to the applicable Account; 

(iv) Each item of property (whether investment property, security, instrument or cash) credited to an Account shall be treated
as a Financial Asset; 

  
 3 

 (v) If at any time the Securities Intermediary shall receive any order from
the Indenture Trustee directing transfer or redemption of any Financial Asset relating to an Account, the Securities Intermediary shall comply with such entitlement order without further consent by the Issuer or the Servicer; 

(vi) Each Account shall be governed by the laws of the State of New York, regardless of any provision of any other agreement.
For purposes of the UCC, New York shall be deemed to be the Securities Intermediary’s jurisdiction and the Accounts (as well as the “securities entitlements” (as defined in
Section 8-102(a)(17) of the UCC) related thereto) shall be governed by the laws of the State of New York; 

(vii) The Securities Intermediary has not entered into, and until termination of the Indenture, will not enter into, any
agreement with any other Person relating to the Accounts and/or any Financial Assets credited thereto pursuant to which it has agreed to comply with entitlement orders (as defined in Section 8-102(a)(8)
of the UCC) of such other Person and the Securities Intermediary has not entered into, and until the termination of the Indenture will not enter into, any agreement with the Issuer purporting to limit or condition the obligation of the Securities
Intermediary to comply with entitlement orders as set forth in Section 2.4; and 
 (viii) Except for the claims and
interest of the Indenture Trustee and the Issuer in the Accounts, the Securities Intermediary knows of no claim to, or interest in, the Accounts or in any Financial Asset credited thereto. If any other Person asserts any Lien, encumbrance, or
adverse claim (including any writ, garnishment, judgment, warrant of attachment, execution or similar process) against the Accounts or in any Financial Asset carried therein, the Securities Intermediary will promptly notify the Indenture Trustee,
the Noteholders and the Issuer thereof. 
 The Indenture Trustee shall possess all right, title and interest in all funds on deposit from
time to time in the Accounts and in all proceeds thereof, and shall be the only Person authorized to originate entitlement orders in respect of the Accounts. 

SECTION 2.4. General Provisions Regarding Accounts. 

(a) So long as no Event of Default shall have occurred and be continuing, all or a portion of the funds in the
2022-3 Exchange Note Collections Account, the Indenture Collections Account, the Note Payment Account and the Reserve Account shall be invested at the direction of the Servicer in 2022-3 Permitted Investments that mature no later than the Business Day prior to the next Payment Date in the Collection Period following the Collection Period during which the investment is made. All income or
other gain from investments of monies deposited in the 2022-3 Exchange Note Collections Account, the Indenture Collections Account and the Reserve Account during a Collection Period shall be deposited into the
2022-3 Exchange Note Collections Account, the Indenture Collections Account or the Reserve Account, as applicable, on the related Payment Date, and any loss resulting from such investments shall be charged to 2022-3 Exchange Note Collections Account, the Indenture Collections Account or the Reserve Account, as applicable. The Titling Trust will be the tax owner of the 2022-3
Exchange Note Collections Account and all investment earnings on the 2022-3 Exchange Note Collections 

  
 4 

 
Account will be taxable to the Titling Trust. The Issuer or, if there is a single Issuer Trust Certificateholder, such Issuer Trust Certificateholder will be the tax owner of the Indenture
Collections Account and all investment earnings on the Indenture Collections Account will be taxable to the Issuer or such Issuer Trust Certificateholder, as the case may be. The Issuer or, if there is a single Issuer Trust Certificateholder, such
Issuer Trust Certificateholder, will be the tax owner of the Reserve Account and all investment earnings on the Reserve Account will be taxable to the Issuer or such Issuer Trust Certificateholder, as the case may be. 

The Indenture Trustee will not be directed to make any investment of any funds or to sell any 2022-3
Permitted Investment held in the 2022-3 Exchange Note Collections Account, the Indenture Collections Account and the Reserve Account unless the security interest Granted and perfected in the 2022-3 Exchange Note Collections Account, the Indenture Collections Account and the Reserve Account will continue to be perfected in such 2022-3 Permitted Investment or the
proceeds of such sale, in either case without any further action by any Person. Except as directed by the Note Purchaser after the occurrence and during the continuance of an Event of Default, no such 2022-3
Permitted Investment shall be sold prior to maturity. The Servicer acknowledges that upon its written request and at no additional cost, it has the right to receive notification after the completion of each such investment or the Indenture
Trustee’s receipt of a broker’s confirmation. The Servicer agrees that such notifications will not be provided by the Indenture Trustee hereunder, and the Indenture Trustee shall make available, upon request and in lieu of notifications,
periodic account statements that reflect such investment activity. No statement need be made available if no activity has occurred in the relevant Account during such period. 

(b) If (i) the Servicer shall have failed to give investment directions for funds on deposit in the
2022-3 Exchange Note Collections Account, the Indenture Collections Account and the Reserve Account to the Indenture Trustee by 12:00 noon, New York City time (or such other time as may be agreed by the
Indenture Trustee), on any Business Day, (ii) an Event of Default shall have occurred and be continuing but the Notes shall not have been declared due and payable pursuant to Section 5.2 of the Indenture, or (iii) if the Notes shall
have been declared due and payable following an Event of Default but amounts collected or receivable from the Issuer Trust Estate are being applied as if there had not been such a declaration, then the Indenture Trustee shall cause the Collateral
Agent to hold funds on deposit in the 2022-3 Exchange Note Collections Account, the Indenture Collections Account and the Reserve Account uninvested. 

(c) Subject to Section 6.1(c) of the Indenture, the Indenture Trustee shall not in any way be held liable by reason of any insufficiency
in the 2022-3 Exchange Note Collections Account, the Indenture Collections Account and the Reserve Account resulting from any loss on any 2022-3 Permitted Investment
included therein except for losses attributable to the Indenture Trustee as obligor as a result of the Indenture Trustee’s failure to make payments on such 2022-3 Permitted Investments issued by the
Indenture Trustee, in its commercial capacity as principal obligor and not as trustee, in accordance with their terms. 

  
 5 

 SECTION 2.5. Reallocation and Repurchase of
2022-3 Lease Agreements and 2022-3 Leased Vehicles; Purchase of Matured Vehicles. 

(a) In the event the Servicer (i) grants certain payment deferments or end of lease extensions with respect to any 2022-3 Lease Agreement that are inconsistent with the Customary Servicing Practices or that extend the term of such 2022-3 Lease Agreement past the Exchange Note Final
Scheduled Payment Date, (ii) modifies any 2022-3 Lease Agreement to change the related Contract Residual Value or Monthly Payment, or (iii) is notified the Titling Trust no longer owns any 2022-3 Leased Vehicle, except to the extent that any such modification listed in clauses (i) and (ii) of this Section 2.5(a) is required by law or court order, the Servicer shall, on the Deposit Date
related to the Collection Period in which such extension was granted, modification was made or notice was received, as applicable, cause the reallocation of the affected 2022-3 Lease Agreement and the related 2022-3 Leased Vehicle to the Lending Facility Pool by depositing to the 2022-3 Exchange Note Collections Account an amount equal to the Repurchase Payment with respect to such
2022-3 Lease Agreement and the related 2022-3 Leased Vehicle. 

(b) Upon (i) discovery by the Servicer, the Depositor or any Noteholder, or (ii) the receipt of written notice by or actual
knowledge of an Authorized Officer of the Owner Trustee or Indenture Trustee, that any representation or warranty contained in Section 2.12 was incorrect in respect of any 2022-3 Lease Agreement or the
related 2022-3 Leased Vehicle as of the Cutoff Date or the 2022-3 Closing Date, as applicable, in a manner that materially adversely affects the interest of the Issuer
or the Noteholders in such 2022-3 Lease Agreement or such 2022-3 Leased Vehicle, the entity discovering such incorrectness, (i) in the case such entity is a
Noteholder, may, and (ii) in the case such entity is the Depositor, Owner Trustee or Indenture Trustee, shall, give prompt written notice to the Servicer requesting that the Servicer reallocate the affected
2022-3 Lease Agreement and the related 2022-3 Leased Vehicle to the Lending Facility Pool; provided, that if the Noteholder providing such notice is not a
Noteholder of record, such Noteholder must provide the Servicer with a written certification stating that it is a beneficial owner of a Note, together with supporting documentation supporting that statement (which may include, but is not limited to,
a trade confirmation, an account statement or a letter from a broker or dealer verifying ownership) together with such notice. If Noteholders representing five percent or more of the Outstanding Amount of the most senior Class of Notes inform
the Indenture Trustee, by notice in writing, of any breach of the Servicer’s representations and warranties made pursuant to Section 2.12(c), the Indenture Trustee shall inform the Servicer in the manner specified in the preceding sentence
on behalf of such Noteholders. By no later than the end of the Collection Period including the date that is two (2) months after the date on which the Servicer discovers or is notified of such incorrectness, the Servicer shall cure in all
material respects the circumstance or condition with respect to which the representation or warranty was incorrect as of the Cutoff Date or the 2022-3 Closing Date, as applicable. If the Servicer does not cure
such circumstance or condition by such date, then the Servicer shall cause the reallocation of the affected 2022-3 Lease Agreement and the related 2022-3 Leased Vehicle
to the Lending Facility Pool by depositing to the 2022-3 Exchange Note Collections Account on the Deposit Date relating to the next succeeding Payment Date an amount equal to the Repurchase Payment with
respect to such 2022-3 Lease Agreement and the related 2022-3 Leased Vehicle. The Indenture Trustee will (i) notify the Servicer, GM Financial and the Depositor, as
soon as practicable and in any event within five (5) Business Days and in the manner set forth for 

  
 6 

 
providing notices hereunder, of all demands or requests communicated (in writing or orally) to the Indenture Trustee for the reallocation of any 2022-3
Lease Agreement and the related 2022-3 Leased Vehicle pursuant to this clause (b), (ii) promptly upon request by the Servicer, GM Financial or the Depositor, provide to them any other information reasonably
requested to facilitate compliance by them with Rule 15Ga-1 under the Exchange Act and Items 1104(e) and 1121(c) of Regulation AB, and (iii) if requested by the Servicer, GM Financial or the Depositor,
provide a written certification no later than fifteen (15) days following any calendar quarter or calendar year that the Indenture Trustee has not received any reallocation demands for such period, or if reallocation demands have been received
during such period, that the Indenture Trustee has provided all the information reasonably requested under clause (ii) above with respect to such demands. In no event will the Indenture Trustee or the Issuer have any responsibility or liability
in connection with any filing required to be made by a securitizer under the Exchange Act or Regulation AB. 
 (c) Notwithstanding the
provisions of Section 2.6(b) of the Basic Servicing Agreement, if the Servicer discovers a breach, or is provided with any notice of a breach pursuant to such section, regarding a Lease Agreement or Leased Vehicle that is a 2022-3 Lease Agreement or 2022-3 Leased Vehicle on the date that such breach is discovered or such notice is provided, the Servicer shall be obligated to take the actions
described in such Section 2.6(b) by no later than the Payment Date following the Collection Period in which the related breach is discovered or the related notice is provided (rather than by the Payment Date following the Collection Period that
ends at least thirty (30) days after the Servicer discovers or is notified of such breach). 
 (d) The Servicer shall provide written
notice to the Indenture Trustee and the Noteholders of each reallocation to the Lending Facility Pool of a 2022-3 Lease Agreement and the related 2022-3 Leased Vehicle
pursuant to Section 2.5(a) or (b) that was made during a Collection Period in the Servicer Report that is delivered for such Collection Period. 

(e) The Servicer may purchase any 2022-3 Leased Vehicle that becomes a Matured Vehicle pursuant to
Section 2.6(f) of the Basic Servicing Agreement for a purchase price equal to the Contract Residual Value of the related 2022-3 Lease Agreement. 

(f) The obligation of the Servicer under this Section 2.5 shall survive any termination of the Servicer hereunder. 

(g) For so long as the Notes are Outstanding, the Servicer will not be permitted to reallocate any
2022-3 Lease Agreements and related 2022-3 Leased Vehicles from the 2022-3 Designated Pool to the Lending Facility Pool except in
accordance with the terms of this Section 2.5 and Section 3.1 of the 2022-3 Exchange Note Supplement. 

(h) If a Lessee changes its domicile and such change would reasonably be expected to result in the Titling Trust doing business in a
jurisdiction in which it is not licensed and authorized to conduct business in the manner contemplated by the Program Documents, then on the Payment Date related to the Collection Period that ends at least thirty (30) days after the Servicer
discovers or is notified of such change, the Servicer shall purchase such 2022-3 Lease Agreement and the related 2022-3 Leased Vehicle by either (i) depositing to
the Indenture Collections Account an amount equal to the Repurchase Payment, or (ii) appropriately segregating and designating an amount equal to the Repurchase Payment on its records, pending application thereof pursuant to 2022-3 Servicing Agreement. 

  
 7 

 SECTION 2.6. 2022-3 Designated Pool
Collections. 
 (a) The Servicer shall, with respect to all 2022-3 Designated Pool Collections,
from time to time determine the amount of such 2022-3 Designated Pool Collections and during each Collection Period shall deposit all such 2022-3 Designated Pool
Collections in the 2022-3 Exchange Note Collections Account when required pursuant to clause (b). 

(b) Notwithstanding Section 2.7(b) of the Basic Servicing Agreement, the Servicer shall remit, or shall cause its agent to remit, all 2022-3 Designated Pool Collections to the 2022-3 Exchange Note Collections Account by the close of business on the second (2nd) Business Day after receipt thereof or, in the
case of any 2022-3 Designated Pool Collections received by the Servicer or such agent for which the Servicer or such agent, as applicable, does not have all Payment Information by the close of business on such
second (2nd) Business Day, by the close of business on the day on which all such Payment Information is received. Pending deposit into the 2022-3 Exchange Note Collections Account, 2022-3 Designated Pool Collections may be employed by the Servicer at its own risk and for its own benefit and need not be segregated from its own funds. 

SECTION 2.7. Servicing Compensation; Expenses. As compensation for the performance of its obligations under the 2022-3 Servicing Agreement, on each Payment Date the Servicer shall be entitled to receive a fee for its performance during the immediately preceding Collection Period or, with respect to the first Payment Date, the
period from and excluding the Cutoff Date to and including August 31, 2022 (the “Designated Pool Servicing Fee”) in accordance with Article V of the 2022-3 Exchange Note Supplement in an
amount equal the sum of (x) to the product of (i) one-twelfth (1/12th) (or, with respect to the first Payment Date, a fraction equal to the number
of days from and excluding the Cutoff Date through and including August 31, 2022, over 360), times (ii) the Servicing Fee Rate, times (iii) the Aggregate Securitization Value as of the opening of business on the first
day of such Collection Period, plus (y) any Administrative Charges collected on the 2022-3 Lease Agreements and 2022-3 Leased Vehicles and any other expenses
reimbursable to the Servicer. 
 SECTION 2.8. Third Party Claims. In addition to the requirements set forth in Section 2.14 of
the Basic Servicing Agreement, upon learning of a Claim or Lien of whatever kind of a third party that would be likely to have a material adverse effect on the interests of the Depositor or the Issuer with respect to the 2022-3 Exchange Note Assets, the Servicer shall immediately notify the Depositor, the Indenture Trustee and the Noteholders of any such Claim or Lien. 

  
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 SECTION 2.9. Reporting by the Servicer; Delivery of Certain Documentation; Inspection;
Asset-Level Information. 
 (a) On each Determination Date, prior to 12:00 p.m. (Central time), the Issuer shall cause the Servicer to
deliver to the Indenture Trustee, the Titling Trust and the Collateral Agent, a Servicer Report with respect to the next Payment Date and the related Collection Period. The Issuer shall also cause the Servicer to deliver a Servicer Report to each
Rating Agency on the same date the Servicer Report is publicly available (provided that if the Servicer Report is not made publicly available, the Servicer will deliver it to each Rating Agency, no later than the twenty-second (22nd) of each month (or if not a Business Day, the next succeeding Business Day)). Solely in the case of the Servicer Report delivered on the first Determination Date, such Servicer Report will contain
the disclosure required by Rule 4(c)(1)(ii) of Regulation RR, 17 C.F.R. §246.1, et seq. (the “Credit Risk Retention Rules”). Notwithstanding Section 3.2(a) of the Basic Servicing Agreement, the Servicer shall deliver such
Servicer Reports in accordance with this Section 2.9 until the date on which the Notes are no longer Outstanding. 
 (b) In addition to
the report with respect to the 2022-3 Exchange Note which the Servicer is obligated to deliver pursuant to Section 3.1(c) of the Basic Servicing Agreement, the Servicer shall deliver to the Depositor, the
Indenture Trustee and the Titling Trust, on or before March 31 (or ninety (90) days after the end of the Servicer’s fiscal year, if other than December 31) of each year, beginning March 31, 2023, an Officer’s Certificate,
dated as of March 31 (or other applicable date) of such year, stating that (i) a review of the activities of the Servicer during the preceding twelve (12) month period (or, in the case of the first such Officer’s Certificate, the
period from the Closing Date to the date of the first such Officer’s Certificate) and of its performance under the 2022-3 Servicing Agreement has been made under such officer’s supervision, and
(ii) to such officer’s knowledge, based on such review, the Servicer has fulfilled all its obligations under the 2022-3 Servicing Agreement throughout such period, or, if there has been a default in
the fulfillment of any such obligation, specifying each such default known to such officer and the nature and status thereof. 
 (c) The
Servicer will deliver to the Issuer, on or before March 31 of each year, beginning on March 31, 2023, a report regarding the Servicer’s assessment of compliance with certain minimum servicing criteria during the immediately preceding
calendar year, as required under Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB. 

(d) To the extent required by Regulation AB, the Servicer will cause any affiliated servicer or any other party deemed to be participating in
the servicing function pursuant to Item 1122 of Regulation AB to provide to the Issuer, on or before March 31 of each year, beginning on March 31, 2023, a report regarding such party’s assessment of compliance with certain minimum
servicing criteria during the immediately preceding calendar year, as required under Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB. 

(e) Each of Wells Fargo, in its capacity as Collateral Agent under this 2022-3 Servicing Supplement,
and Computershare, in its capacity as Indenture Trustee under the Program Documents, acknowledges that to the extent it is deemed to be participating in the servicing function pursuant to Item 1122 of Regulation AB, it will take any action
reasonably requested by the Servicer to ensure compliance with the requirements of Section 2.9(d) and Section 2.10(b) hereof and with Item 1122 of Regulation AB. Such required documentation will be delivered to the Servicer by
March 15 of each calendar year. 

  
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 (f) The Servicer shall deliver copies of all reports, notices and certificates delivered by
it pursuant to the 2022-3 Servicing Agreement to the Depositor, the Indenture Trustee and the Titling Trust on the date or dates due, including any notice of material failure given pursuant to
Section 2.2(a) of the Basic Servicing Agreement and the Officer’s Certificate relating to the 2022-3 Exchange Note delivered by it pursuant to Section 2.9(b) of this 2022-3 Servicing Supplement. 
 (g) On or before the fifteenth (15th) day following each Payment Date, the Servicer will prepare a Form ABS-EE, including an asset data file and asset-related document containing the asset-level
information for each 2022-3 Exchange Note Asset for the prior Collection Period as required by Item 1A of Form 10-D. 

SECTION 2.10. Annual Independent Accountant’s Report. 

(a) The Servicer shall cause the cause a firm of nationally recognized independent certified public accountants (the “Independent
Accountants”), who may also render other services to the Servicer or its Affiliates, to deliver to the Indenture Trustee, the Owner Trustee and the Collateral Agent, on or before March 31 (or 90 days after the end of the Issuer’s
fiscal year, if other than December 31) of each year, beginning on March 31, 2023, a report with respect to the preceding calendar year, addressed to the board of directors of the Servicer, providing its attestation report on the servicing
assessment delivered pursuant to Section 2.9(c), including disclosure of any material instance of non-compliance, as required by Rule 13a-18 and 15d-18 of the Exchange Act and Item 1122(b) of Regulation AB. Such attestation will be in accordance with Rules 1-02(a)(3) and 2-02(g)
of Regulation S-X under the Securities Act and the Exchange Act. 
 (b) Each party required to
deliver an assessment of compliance described in Section 2.9(d) shall cause Independent Accountants, who may also render other services to such party or its Affiliates, to deliver to the Indenture Trustee, the Owner Trustee, the Collateral
Agent and the Servicer, on or before March 31 (or 90 days after the end of the Issuer’s fiscal year, if other than December 31) of each year, beginning on March 31, 2023, a report with respect to the preceding calendar year, addressed
to the board of directors of such party, providing its attestation report on the servicing assessment delivered pursuant to Section 2.9(d), including disclosure of any material instance of non-compliance,
as required by Rule 13a-18 and 15d-18 of the Exchange Act and Item 1122(b) of Regulation AB. Such attestation will be in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the Exchange Act. 

(c) The Servicer shall cause the Independent Accountants to deliver to the Depositor, the Indenture Trustee, the Issuer and the Titling Trust,
on or before April 30 (or one-hundred and twenty (120) days after the end of the Servicer’s fiscal year, if other than December 31) of each year, beginning on April 30, 2023 with respect to
the twelve (12) months ended the immediately preceding December 31 (or other applicable date) (or such other period as shall have elapsed from the 2022-3 Closing Date to the date of such certificate
(which period shall not be less than six (6) months)), a statement (the “Accountants’ Report”) addressed to the Board of Directors of the Servicer, to the effect that such firm has audited the books and records of GM
Financial, in which the Servicer is included as a consolidated subsidiary, and issued its report thereon in connection with the audit report on the consolidated financial statements of GM Financial and that (i) such audit was made in accordance
with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as such firm considered necessary in the circumstances, and (ii) the firm is independent of the
Servicer within the meaning of the Code of Professional Ethics of the American Institute of Certified Public Accountants. 

  
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 SECTION 2.11. Servicer Defaults; Termination of the Servicer. 

(a) Each of the following acts or occurrences constitutes a “Servicer Default” under the
2022-3 Servicing Agreement with respect to the 2022-3 Exchange Note: 

(i) any failure by the Servicer to deposit in the 2022-3 Exchange Note Collections
Account any required payment, any failure by the Servicer to make or cause the Titling Trust to make any required payments from the 2022-3 Exchange Note Collections Account on account of the 2022-3 Exchange Note or any failure of the Servicer to make any required payment under any other Program Document, which failure continues unremedied for a period of five (5) Business Days after the earlier of
the date on which (1) notice of such failure is given to the Servicer by the Indenture Trustee, or (2) an Authorized Officer of the Servicer has actual knowledge of such failure; 

(ii) any failure by the Servicer duly to observe or to perform any covenants or agreements of the Servicer set forth in the 2022-3 Servicing Agreement or any other Program Document (other than a covenant or agreement a default in the observance or performance of which is elsewhere in this Section specifically dealt with), which failure
shall materially and adversely affects the interests of the 2022-3 Secured Parties and shall continue unremedied for a period of sixty (60) days after written notice of such failure is received by the
Servicer from the Indenture Trustee or after discovery of such failure by the Servicer; 
 (iii) any representation or
warranty made or deemed made by the Servicer in the 2022-3 Servicing Agreement or in any other Program Document or which is contained in any certificate, document or financial or other statement furnished at
any time under or in connection herewith or therewith shall prove to have been incorrect, and such incorrectness has a material adverse effect on the interests of the 2022-3 Secured Parties or the Issuer which
failure, if capable of being cured, has not been cured for a period of sixty (60) days after written notice of such breach is received by the Servicer from the Indenture Trustee or after discovery of such breach by the Servicer; or 

(iv) an Insolvency Event occurs with respect to the Servicer. 

(b) Promptly after having obtained knowledge of any Servicer Default, but in no event later than two (2) Business Days thereafter, the
Servicer shall deliver to the Indenture Trustee and the Noteholders, written notice thereof in an Officer’s Certificate, accompanied in each case by a description of the nature of the default and the efforts of the Servicer to remedy the same.

 (c) In addition to the provisions of Section 4.1(d) of the Basic Servicing Agreement, if a Servicer Default shall have occurred and
be continuing with respect to the 2022-3 Exchange Note, the Titling Trust shall, acting at the written direction of the Majority Noteholders, or, if there are no Notes Outstanding, the Titling Trust, acting at
the direction of Issuer Trust 

  
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Certificateholder, by notice given to the Servicer, terminate the rights and obligations of the Servicer under the 2022-3 Servicing Agreement in accordance
with such Section and the Indenture Trustee, acting at the written direction of the Majority Noteholders, shall appoint a Successor Servicer to fulfill the obligations of the Servicer hereunder in respect of the
2022-3 Lease Agreements and 2022-3 Leased Vehicles. Any such Person shall accept its appointment by a written assumption in a form acceptable to the Indenture Trustee.
In the event the Servicer is removed as servicer of the 2022-3 Exchange Note Assets, (i) the Servicer shall deliver or cause to be delivered to or at the direction of the Successor Servicer all Lease
Documents with respect to the 2022-3 Lease Agreements and the 2022-3 Leased Vehicles that are then in the possession of the Servicer, (ii) the Servicer shall
deliver or cause to be delivered to or at the direction of the Successor Servicer all Security Deposits held by the Servicer with respect to the 2022-3 Exchange Note Assets, and (iii) the Servicer shall
deliver to the Successor Servicer all servicing records directly maintained by the Servicer, containing as of the close of business on the date of demand all of the data maintained by the Servicer, in computer format in connection with servicing the
2022-3 Exchange Note Assets. If no Person has accepted its appointment as Successor Servicer when the predecessor Servicer ceases to act as Servicer in accordance with this Section 2.11, the Indenture
Trustee, will, without further action, be automatically appointed the Successor Servicer. Notwithstanding the above, if the Indenture Trustee is unwilling or legally unable to act as Successor Servicer, it may appoint, or petition a court of
competent jurisdiction to appoint, an institution whose business includes the servicing of lease agreements and the related lease assets, as Successor Servicer. The Indenture Trustee will be released from its duties and obligations as Successor
Servicer on the date that a new servicer agrees to appointment as Successor Servicer hereunder. All reasonable costs and expenses incurred in connection with transferring the servicing of the 2022-3 Exchange
Note Assets to the successor Servicer and amending this agreement to reflect such succession as Servicer pursuant to this Section shall be paid by the predecessor Servicer upon presentation of reasonable documentation of such costs and expenses. Any
Successor Servicer shall be entitled to such compensation as the Servicer would have been entitled to under this 2022-3 Servicing Supplement if the Servicer had not resigned or been terminated hereunder or
such additional compensation as the Majority Noteholders and such Successor Servicer may agree on. 
 (d) Notwithstanding the provisions of
Section 4.1(f) of the Basic Servicing Agreement, with respect to any Servicer Default related to the 2022-3 Exchange Note Assets, only the Indenture Trustee, acting at the written direction of the
Majority Noteholders, or, if there are no Notes Outstanding, the Titling Trust, acting at the direction of the Issuer Trust Certificateholder, may waive any default of the Servicer in the performance of its obligations under the 2022-3 Servicing Agreement and its consequences with respect to the 2022-3 Exchange Note and, upon any such waiver, such default shall cease to exist and any Servicer Default
arising therefrom shall be deemed to have been remedied for every purpose of the 2022-3 Exchange Note Servicing Agreement. No such waiver shall extend to any subsequent or other default or impair any right
consequent thereto. 

  
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 SECTION 2.12. Representations and Warranties. The Servicer makes the following
representations and warranties to the Depositor, the Indenture Trustee and the Noteholders as of the 2022-3 Closing Date: 

(a) The representations and warranties contained in Section 2.6(a) of the Basic Servicing Agreement as to each 2022-3 Lease Agreement and the related 2022-3 Leased Vehicle were true and correct as of the Cutoff Date; 

(b) The representations and warranties set forth in Section 5.1 of the Basic Servicing Agreement are true and correct as of the date
hereof; 
 (c) Each 2022-3 Lease Agreement and 2022-3 Leased
Vehicle is an Eligible Collateral Asset as of the date hereof; 
 (d) All information heretofore furnished by the Servicer or any of its
Affiliates to the Indenture Trustee or the Owner Trustee for purposes of or in connection with the 2022-3 Servicing Agreement or any of the other Program Documents or any transaction contemplated hereby or
thereby is, and all information hereafter furnished by the Servicer or any of its Affiliates to the Indenture Trustee, the Owner Trustee or any of the Noteholders will be, (i) true and accurate in every material respect on the date such
information is stated or certified, and (ii) does not and will not contain any material misstatement of fact or omit to state a material fact or any fact necessary to make the statements contained therein misleading, in the case of each of
(i) and (ii) when taken together with all other information provided on or prior to the date hereof; and 
 (e) No Servicer Default or
event which with the giving of notice or lapse of time, or both, would become a Servicer Default has occurred and is continuing as of the 2022-3 Closing Date. 

(f) With respect to any 2022-3 Lease Agreement that constitutes “electronic chattel paper”
under the UCC, the Servicer, as custodian of the Lease Documents relating to the 2022-3 Designated Pool, maintains control of a single electronically authenticated authoritative copy of the related 2022-3 Lease Agreement. 
 SECTION 2.13. Custody of Lease Documents. 

(a) Pursuant to Section 2.3 of the Basic Servicing Agreement, the Servicer, either directly or through an agent, will act as custodian of
the Lease Documents relating to the 2022-3 Designated Pool, as agent and bailee for the benefit of the Issuer and the Indenture Trustee. All Lease Documents relating to the
2022-3 Designated Pool shall be identified and maintained in such a manner so as to permit retrieval and access. If a Successor Servicer has been appointed hereunder, the Servicer shall promptly deliver all
such Lease Documents to the Successor Servicer. If the Servicer is terminated under the 2022-3 Servicing Agreement upon the occurrence of a Servicer Default, the costs associated with transferring all such
Lease Documents shall be paid by the Servicer. 
 (b) With respect to any 2022-3 Lease Agreement
that constitutes “electronic chattel paper” under the UCC, the Servicer, as custodian of the Lease Documents relating to the 2022-3 Designated Pool, shall at all times maintain control of a single
electronically authenticated authoritative copy of the related 2022-3 Lease Agreement. 

  
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 (c) In accordance with Section 2.10(h)(ii) of the Indenture and with respect to any
Indenture Collateral that constitutes an instrument or tangible chattel paper, the Servicer, as custodian of the Lease Documents relating to the 2022-3 Designated Pool, acknowledges that it is holding such
instruments and tangible chattel paper solely on behalf and for the benefit of the Indenture Trustee. 
 SECTION 2.14. Reserve
Account. 
 (a) On the 2022-3 Closing Date, GMF Leasing LLC shall deposit the Specified Reserve
Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Collateral Agent in the name of the Indenture Trustee for the benefit of the Noteholders. 

(b) On each Payment Date (i) if the amount on deposit in the Reserve Account (without taking into account any amount on deposit in the
Reserve Account representing net investment earnings) is less than the Specified Reserve Balance, then the Indenture Trustee shall, after payment of any amounts required to be distributed pursuant to clauses (i) through (xiv) of
Section 8.3(a) of the Indenture, deposit in the Reserve Account the Reserve Account Required Amount pursuant to Section 8.3(a)(xv) of the Indenture, and (ii) if the amount on deposit in the Reserve Account, after giving effect to all
other deposits thereto and withdrawals therefrom to be made on such Payment Date is greater than the Specified Reserve Balance, in which case the Indenture Trustee shall distribute the amount of such excess as part of Available Funds on such Payment
Date. 
 (c) On each Payment Date, the Servicer shall instruct the Indenture Trustee to withdraw the Reserve Account Withdrawal Amount from
the Reserve Account and deposit such amounts in the Indenture Collections Account to be included as Total Available Funds for that Payment Date. 

SECTION 2.15. Liability of Successor Servicer. No Successor Servicer will have any responsibility and will not be in default
hereunder or incur any liability for any failure, error, malfunction or any delay in carrying out any of their duties under this Supplement if such failure or delay results from such Successor Servicer acting in accordance with information prepared
or supplied by any Person other than the Successor Servicer or the failure of any such other Person to prepare or provide such information. No Successor Servicer will have any responsibility for and will not be in default and will incur no liability
for, (a) any act or failure to act of any third party, including the Servicer, (b) any inaccuracy or omission in a notice or communication received by such Successor Servicer from any third party, (c) the invalidity or
unenforceability of any 2022-3 Lease Agreement under applicable law, (d) the breach or inaccuracy of any representation or warranty made with respect to any 2022-3
Lease Agreement or 2022-3 Leased Vehicle, or (e) the acts or omissions of any successor to it as Successor Servicer. 

  
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 SECTION 2.16. Merger or Consolidation of, or Assumption of Obligations of the
Servicer. Notwithstanding the provisions of Section 5.3 of the Basic Servicing Agreement, GM Financial shall not merge or consolidate with any other Person, convey, transfer or lease substantially all its assets as an entirety to another
Person, or permit any other Person to become the successor to GM Financial’s business unless, after the merger, consolidation, conveyance, transfer, lease or succession, the successor or surviving entity shall be capable of fulfilling the
duties of GM Financial contained in this Agreement. Any corporation (a) into which GM Financial may be merged or consolidated, (b) resulting from any merger or consolidation to which GM Financial shall be a party, (c) which acquires
by conveyance, transfer, or lease substantially all of the assets of GM Financial, or (d) succeeding to the business of GM Financial, in any of the foregoing cases shall execute an agreement of assumption to perform every obligation of GM
Financial under this Agreement and, whether or not such assumption agreement is executed, shall be the successor to GM Financial under this Agreement without the execution or filing of any paper or any further act on the part of any of the parties
to this Agreement, anything in this Agreement to the contrary notwithstanding; provided, however, that nothing contained herein shall be deemed to release GM Financial from any obligation. GM Financial shall provide notice of any
merger, consolidation or succession pursuant to this Section to the Owner Trustee, the Indenture Trustee and the Noteholders. Notwithstanding the foregoing, GM Financial shall not merge or consolidate with any other Person or permit any other Person
to become a successor to GM Financial’s business, unless (x) immediately after giving effect to such transaction, no representation or warranty made pursuant to Section 2.12 shall have been breached (for purposes hereof, such
representations and warranties shall speak as of the date of the consummation of such transaction), (y) GM Financial shall have delivered to the Owner Trustee, the Indenture Trustee and the Noteholders an Officer’s Certificate and an Opinion of
Counsel each stating that such consolidation, merger or succession and such agreement of assumption comply with this Section and that all conditions precedent, if any, provided for in this Agreement relating to such transaction have been complied
with, and (z) GM Financial shall have delivered to the Owner Trustee, the Collateral Agent and the Indenture Trustee an Opinion of Counsel stating, in the opinion of such counsel, either that (i) 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 Trust in the 2022-3 Exchange Note and the Other Conveyed Property (and reciting the
details of the filings), or (ii) no such action shall be necessary to preserve and protect such interest. 
 SECTION 2.17.
Resignation of the Servicer. Notwithstanding Section 5.4 of the Basic Servicing Agreement, the Servicer shall not resign as Servicer under the 2022-3 Servicing Agreement except if it is prohibited
by law from performing its obligations in respect of the 2022-3 Exchange Note Assets under the Basic Servicing Agreement or hereunder and delivers to the Owner Trustee, the Indenture Trustee and the
Noteholders an Opinion of Counsel to such effect concurrently with the delivery of any notice of resignation pursuant to Section 5.4 of the Basic Servicing Agreement. 

SECTION 2.18. Separate Existence. The Servicer shall take all reasonable steps to maintain the Titling Trust’s, the
Settlor’s, the Depositor’s and the Issuer’s identities as separate legal entities, and shall make it manifest to third parties that each of the Titling Trust, the Settlor, the Depositor and the Issuer is an entity with assets and
liabilities distinct from those of the Servicer and not a division of the Servicer. All transactions and dealings between the Servicer, on the one hand, and the Settlor, the Titling Trust, the Depositor and the Issuer, on the other hand, will be
conducted on an arm’s-length basis. The Servicer shall take all other actions 

  
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 necessary on its part to ensure that the Depositor complies with Section 2.5(d) of the Exchange Note
Transfer Agreement and, to the extent within its control, take all action necessary to ensure that the Issuer complies with Section 3.16 of the Indenture. The Servicer shall take all action necessary to ensure that the Titling Trust shall not
take any of the following actions: 
 (a) engage in any business other than that contemplated by the Titling Trust Agreement or enter into
any transaction or indenture, mortgage, instrument, agreement, contract, lease or other undertaking which is not directly or indirectly related to the transactions contemplated by the Titling Trust Documents; and 

(b) issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any obligations, liabilities or responsibilities
other than as set forth in the Titling Trust Documents. 
 SECTION 2.19. Like Kind Exchange Program; Pull Ahead Program. 

(a) Notwithstanding the provisions of the Basic Servicing Agreement, a 2022-3 Leased Vehicle may be
reallocated from the 2022-3 Designated Pool to the Lending Facility Pool in connection with a Like Kind Exchange if the full Base Residual Value of the related 2022-3
Leased Vehicle is deposited to the 2022-3 Exchange Note Collections Account by no later than the second (2nd) Business Day following the date of such
reallocation; provided, that if the Net Liquidation Proceeds with respect to such 2022-3 Leased Vehicle are determined prior to the deposit of such Base Residual Value to the 2022-3 Exchange Note Collections Account, then such Net Liquidation Proceeds may instead be deposited to the 2022-3 Exchange Note Collections Account in full satisfaction of
this Section 2.19(a). If the Servicer has deposited the full Base Residual Value of a 2022-3 Leased Vehicle to the 2022-3 Exchange Note Collections Account in
connection with a Like Kind Exchange and (i) the related Net Liquidation Proceeds are determined thereafter to be less than such Base Residual Value, then the Servicer shall be permitted to withdraw the excess of the related Base Residual Value
so deposited over the related Net Liquidation Proceeds from the 2022-3 Exchange Note Collections Account for its own account, and (ii) the related Net Liquidation Proceeds are determined thereafter to be
greater than such Base Residual Value, then the Servicer shall be obligated to deposit the excess of the related Net Liquidation Proceeds over the Base Residual Value to the 2022-3 Exchange Note Collections
Account from its own funds by no later than the second (2nd) Business Day following the date on which such Net Liquidation Proceeds are determined. 

(b) Notwithstanding the provisions of the Basic Servicing Agreement, a 2022-3 Lease Agreement may be a
Pull Ahead Lease Agreement pursuant to a Pull Ahead Program if all amounts due and payable under the related 2022-3 Lease Agreement (other than (i) Excess Mileage/Wear and Tear Fees, which shall be
charged to such Lessee to the extent applicable in accordance with the terms of such 2022-3 Lease Agreement and the Servicer’s Customary Servicing Practices, and (ii) Monthly Payments that are waived
in connection with such Lessee’s participation in the Pull Ahead Program and in connection with which a Pull Ahead Payment is received by the Titling Trust or by the Servicer on its behalf and allocated to the
2022-3 Exchange Note Collections Account) are deposited to the 2022-3 Exchange Note Collections Account by no later than the second (2nd) Business Day following the date that such 2022-3 Lease Agreement would terminate pursuant to the Pull Ahead Program. The Servicer will not be entitled to
reimbursement from any 2022-3 Designated Pool Collections for any amounts that it deposits to the 2022-3 Collections Account from its own funds in connection with any
Pull Ahead Lease Agreement. 

  
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 SECTION 2.20. Dispute Resolution. 

(a) If the Owner Trustee, the Indenture Trustee, any Noteholder, the Depositor or the Indenture Trustee on behalf of certain Noteholders in
accordance with Section 2.5(b) hereof has requested that the Servicer reallocate any 2022-3 Lease Agreement and the related 2022-3 Leased Vehicle to the Lending
Facility Pool pursuant to Section 2.5(b) hereof due to an alleged breach of a representation and warranty with respect to such 2022-3 Lease Agreement and the related
2022-3 Leased Vehicle (each, a “Reallocation Request”), and the Reallocation Request has not been resolved within 180 days of the receipt of notice of the Reallocation Request by the Servicer
(which resolution may take the form of a reallocation of the related 2022-3 Lease Agreement and the related 2022-3 Leased Vehicle to the Lending Facility Pool against
payment of the related Repurchase Amount by GM Financial, a withdrawal of the related Reallocation Request by the party that originally requested the reallocation or a cure of the condition that led to the related breach in the manner set forth
herein), then the Servicer or Depositor shall describe the unresolved Reallocation Request on the Form 10-D that is filed that relates to the Collection Period during with the related 180-day period ended, and any of the party that originally requested the reallocation, any Noteholder or the Indenture Trustee on behalf of certain Noteholders in accordance with the following sentence (any such
Person, a “Requesting Party”) may refer the matter, in its discretion, to either mediation (including non-binding arbitration) or binding third-party arbitration; provided, that if the
Noteholder seeking to refer the matter to mediation or arbitration is not a Noteholder of record, such Noteholder must provide the Servicer and the Indenture Trustee with a written certification stating that it is a beneficial owner of a Note,
together with supporting documentation supporting that statement (which may include, but is not limited to, a trade confirmation, an account statement or a letter from a broker or dealer verifying ownership) before the Servicer will be obligated to
participate in the related mediation or arbitration. Noteholders representing five percent or more of the Outstanding Amount of the most senior Class of Notes may direct the Indenture Trustee, by notice in writing, in relation to any matter
described in the preceding sentence, to initiate either mediation (including non-binding arbitration) or binding third party arbitration, as directed by such Noteholders, on behalf of such Noteholders and to
conduct such mediation or arbitration pursuant to instructions provided by such Noteholders in accordance with the Indenture. The Requesting Party shall provide notice to the Sponsor and the Depositor and refer the matter to mediation or arbitration
according to the ADR Rules of the ADR Organization within 90 days following the date on which the Form 10-D is filed that relates to the Collection Period during which the related 180-day period ended. The Servicer agrees to participate in the dispute resolution method selected by the Requesting Party. 

(b) If the Requesting Party selects mediation for dispute resolution: 

(i) The mediation will be administered by the ADR Organization using its ADR Rules. However, if any ADR Rules are inconsistent
with the procedures for mediation stated in this Section 2.20, the procedures in this Section 2.20 will control. 

  
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 (ii) A single mediator will be selected by the ADR Organization from a list
of neutrals maintained by it according to the ADR Rules. The mediator must be impartial, an attorney admitted to practice in the State of New York and have at least 15 years of experience in commercial litigation and, if possible, consumer finance
or asset-backed securitization matters. 
 (iii) Commercially reasonable efforts shall be used to begin the mediation within
15 Business Days after the selection of the mediator and conclude within 30 days after the start of the mediation. 
 (iv)
Expenses of the mediation will be allocated to the parties as mutually agreed by them as part of the mediation. 
 (v) If the
parties fail to agree at the completion of the mediation, the Requesting Party may refer the Reallocation Request to arbitration under this Section 3.13 or may initiate litigation regarding such Reallocation Request. 

(c) If the Requesting Party selects arbitration for dispute resolution: 

(i) The arbitration will be administered by the ADR Organization using its ADR Rules. However, if any ADR Rules are
inconsistent with the procedures for arbitration stated in this Section 2.20, the procedures in this Section 2.20 will control. 

(ii) A single arbitrator will be selected by the ADR Organization from a list of neutrals maintained by it according to the ADR
Rules. The arbitrator must be an attorney admitted to practice in the State of New York and have at least 15 years of experience in commercial litigation and, if possible, consumer finance or asset-backed securitization matters. The arbitrator will
be independent and impartial and will comply with the Code of Ethics for Arbitrators in Commercial Disputes in effect at the time of the arbitration. Before accepting an appointment, the arbitrator must promptly disclose any circumstances likely to
create a reasonable inference of bias or conflict of interest or likely to preclude completion of the proceedings within the stated time schedule. The arbitrator may be removed by the ADR Organization for cause consisting of actual bias, conflict of
interest or other serious potential for conflict. 
 (iii) The arbitrator will have the authority to schedule, hear and
determine any motions, according to New York law, and will do so at the motion of any party. Discovery will be completed with 30 days of selection of the arbitrator and will be limited for each party to two witness depositions, each not to exceed
five hours, two interrogatories, one document request and one request for admissions. However, the arbitrator may grant additional discovery on a showing of good cause that the additional discovery is reasonable and necessary. Briefs will be limited
to no more than ten pages each, and will be limited to initial statements of the case, motions and a pre-hearing brief. The evidentiary hearing on the merits will start no later than 60 days after selection of
the arbitrator and will proceed for no more than six consecutive Business Days with equal time allocated to each party for the presentation of evidence and cross examination. The arbitrator may allow additional time for discovery and hearings on a
showing of good cause or due to unavoidable delays. 

  
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 (iv) The arbitrator will make its final determination no later than 90 days
after its selection. The arbitrator will resolve the dispute according to the terms of this Agreement and the other Basic Documents, and may not modify or change this Agreement or the other Basic Documents in any way. The arbitrator will not have
the power to award punitive damages or consequential damages in any arbitration conducted by them. In its final determination, the arbitrator will determine and award the expenses of the arbitration (including filing fees, the fees of the
arbitrator, expense of any record or transcript of the arbitration and administrative fees) to the parties 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 will be final and non-appealable, except for actions to confirm or vacate the determination permitted under federal or State law, and may be entered and enforced in any court of
competent jurisdiction. The arbitrator may not award remedies that are not consistent with this Agreement and the other Basic Documents. 

(v) By selecting arbitration, the Requesting Party is giving up the right to sue in court, including the right to a trial by
jury. 
 (vi) The Requesting Party may not bring a putative or certificated class action to arbitration. If this waiver of
class action rights is found to be unenforceable for any reason, the Requesting Party agrees that it will bring its claims in a court of competent jurisdiction. 

(d) For each mediation or arbitration: 

(i) Any mediation or arbitration will be held in New York, New York at the offices of the mediator or arbitrator or at another
location selected by the Servicer. Any party or witness may participate by teleconference or video conference. 
 (ii) The
Servicer and the Requesting Party will have the right to seek provisional relief from a competent court of law, including a temporary restraining order, preliminary injunction or attachment order, if such relief is available by law. 

(e) The Servicer will not be required to produce personally identifiable customer information for purposes of any mediation or arbitration.
The existence and details of any unresolved Reallocation Request, any informal meetings, mediations or arbitration proceedings, the nature and amount of any relief sought or granted, any offers or statements made and any discovery taken in the
proceeding will be confidential, privileged and inadmissible for any purpose in any other mediation, arbitration, litigation or other proceeding. The parties will keep this information confidential and will not disclose or discuss it with any third
party (other than a party’s attorneys, experts, accountants and other advisors, as reasonably required in connection with the mediation or arbitration proceeding under this Section 2.6), except as required by law, regulatory requirement or
court order. If a party to a mediation or arbitration proceeding receives a subpoena or other request for information from a third party (other than a governmental regulatory body) for confidential information of the other party to the mediation or
arbitration proceeding, 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. 

  
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 ARTICLE III 

MISCELLANEOUS 
 SECTION 3.1.
Termination of 2022-3 Servicing Supplement. This 2022-3 Servicing Supplement (and, accordingly, the Basic Servicing Agreement insofar as it relates to the 2022-3 Exchange Note) will be terminated in the event that the Basic Servicing Agreement is terminated in accordance therewith and may also be terminated at the option of the Servicer or the Titling Trust at any
time following the payment in full of the 2022-3 Exchange Note. 
 SECTION 3.2. Amendment.

 (a) This 2022-3 Servicing Supplement (and, accordingly, the Basic Servicing Agreement, insofar as
it relates to the 2022-3 Exchange Note) may be amended by the parties hereto with the consent of the Majority Noteholders; provided, that to the extent that any such amendment materially affects any
Other Exchange Note, such amendment shall require the consent of the Exchange Noteholder thereof affected thereby. 
 (b) The parties hereto
acknowledge and agree that (i) the right of the Indenture Trustee to consent to any amendment of this 2022-3 Servicing Supplement is subject to the following terms: the parties hereto will not
(1) without the prior written consent of the Required Noteholders, waive timely performance or observance by the Servicer under the 2022-3 Servicing Agreement and (2) without the prior written
consent of all Noteholders, reduce the required percentage of the Notes that is required to consent to any amendment pursuant to this Section 3.2 and (ii) any consent provided by the Indenture Trustee in violation of such terms shall be of
no force or effect hereunder. 
 SECTION 3.3. GOVERNING LAW. THIS SUPPLEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO OTHERWISE APPLICABLE PRINCIPLES OF CONFLICTS OF LAW (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 

SECTION 3.4. Relationship of 2022-3 Servicing Supplement to Other Trust Documents. Unless the
context otherwise requires, this 2022-3 Servicing Supplement and the other Trust Documents shall be interpreted so as to give full effect to all provisions hereof and thereof. In the event of any actual
conflict between the provisions of this 2022-3 Servicing Supplement and the Basic Servicing Agreement, with respect to the servicing of any 2022-3 Exchange Note Assets,
the provisions of this 2022-3 Servicing Supplement shall prevail. This 2022-3 Servicing Supplement shall supplement the Basic Servicing Agreement as it relates to the 2022-3 Exchange Note and the 2022-3 Designated Pool and not to any other Exchange Note or Designated Pool or the Lending Facility Pool. 

  
 20 

 SECTION 3.5. [Reserved]. 

SECTION 3.6. Notices. For purposes of the 2022-3 Servicing Agreement, all demands, notices,
directions, requests 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 facsimile transmission, and
addressed in each case as follows: (a) if to the Servicer, GM Financial, 801 Cherry Street, Suite 3500, Fort Worth, Texas, 76102, Attention: Chief Financial Officer, and (b) if to the Indenture Trustee, Computershare Trust Company, N.A.,
600 South 4th Street, MAC N9300-070, Minneapolis, Minnesota 55415. Notices to the other parties to this 2022-3 Servicing Supplement shall be delivered as provided in
Section 6.5 of the Basic Servicing Agreement. 
 SECTION 3.7. Severability of Provisions. If any one or more of the covenants,
agreements, provisions or terms of this 2022-3 Servicing Supplement or the 2022-3 Servicing 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 and terms of this 2022-3 Servicing Supplement or the
2022-3 Servicing Agreement, as applicable, and shall in no way affect the validity or enforceability of the other covenants, agreements, provisions and terms of this
2022-3 Servicing Supplement or the 2022-3 Servicing Agreement. 

SECTION 3.8. Binding Effect. The provisions of this 2022-3 Servicing Supplement and the 2022-3 Servicing Agreement shall be binding upon and inure to the benefit of the parties hereto and their permitted successors and assigns. 

SECTION 3.9. Table of Contents and Headings. The Table of Contents and Article and Section headings herein are for convenience of
reference only and shall not define or limit any of the terms or provisions hereof. 
 SECTION 3.10. Counterparts and Consent to Do
Business Electronically. This 2022-3 Servicing Supplement may be executed in multiple counterparts, each of which shall be deemed to be an original, but together they shall constitute one and the same
instrument. Facsimile and .pdf signatures shall be deemed valid and binding to the same extent as the original and the parties affirmatively consent to the use thereof, with no such consent having been withdrawn. Each party agrees that this 2022-3 Servicing Supplement and any documents to be delivered in connection with this 2022-3 Servicing Supplement may be executed by means of an electronic signature that
complies with the federal Electronic Signatures in Global and National Commerce Act, state enactments of the Uniform Electronic Transactions Act, and/or any other relevant electronic signatures law, in each case to the extent applicable. Any
electronic signatures appearing on this 2022-3 Servicing Supplement and such other documents are the same as handwritten signatures for the purposes of validity, enforceability, and admissibility. Each party
hereto shall be entitled to conclusively rely upon, and shall have no liability with respect to, any electronic signature or faxed, scanned, or photocopied manual signature of any other party and shall have no duty to investigate, confirm or
otherwise verify the validity or authenticity thereof. 
 SECTION 3.11. Further Assurances. Each party shall take such acts, and
execute and deliver to any other party such additional documents or instruments as may be reasonably requested in order to effect the purposes of this 2022-3 Servicing Supplement and the 2022-3 Servicing Agreement and to better assure and confirm unto the requesting party its rights, powers and remedies hereunder. 

  
 21 

 SECTION 3.12. Third-Party Beneficiaries. The Issuer, the Depositor and each
Noteholder shall be third-party beneficiaries of the 2022-3 Servicing Agreement. Except as otherwise provided in the 2022-3 Servicing Agreement, no other Person shall
have any rights hereunder. 
 SECTION 3.13. No Petition. Each of the parties hereto, in addition to the provisions of
Section 6.13 of the Basic Servicing Agreement, covenants and agrees that prior to the date that is one (1) year and one (1) day after the date on which all Notes have been paid in full, it will not institute against, or join any other
person in instituting against the Titling Trust or the Settlor, any bankruptcy, reorganization, arrangement, insolvency or liquidation Proceeding or other Proceeding under any Insolvency Law. 

SECTION 3.14. Limitation of Liability. It is expressly understood and agreed by the parties hereto that (a) this 2022-3 Servicing Supplement is executed and delivered by Wilmington Trust Company, not individually or personally but solely as owner trustee of the Titling Trust and the Settlor, in the exercise of the powers and
authority conferred and vested in it under the Titling Trust Agreement and Settlor Trust Agreement, as applicable, (b) each of the representations, covenants, undertakings and agreements herein made on the part of the Titling Trust and the
Settlor is made and intended not as personal representations, undertakings and agreements by Wilmington Trust Company but is made and intended for the purpose for binding only the Titling Trust and the Settlor, (c) nothing herein contained
shall be construed as creating any liability on Wilmington Trust Company, individually or personally, to perform any covenant either express or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and
any Person claiming by, through or under the parties hereto, (d) Wilmington Trust Company has made no investigation as to the accuracy or completeness of any representations and warranties made by the Issuer in this Agreement, and
(e) under no circumstances shall Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Titling Trust and the Settlor or be liable for the breach or failure of any obligation, duty (including
fiduciary duty, if any), representation, warranty or covenant made or undertaken by the Titling Trust and the Settlor under this 2022-3 Servicing Supplement or the other related documents. 

SECTION 3.15. Preparation of Securities and Exchange Commission Filings. The Servicer will file or will cause to be filed, on
behalf of the Issuer and the Depositor, any documents, forms or other items required to be filed by the Issuer or the Depositor pursuant to the rules and regulations set by the Commission and relating to the Notes or the Program Documents. 

  
 22 

 SECTION 3.16. Review Reports. 

Upon the request of any Noteholder to the Servicer for a copy of any Review Report (as defined in the
2022-3 Asset Representations Review Agreement), the Servicer shall promptly provide a copy of such Review Report to such Noteholder; provided, that if the requesting Noteholder is not a Noteholder of
record, such Noteholder must provide the Servicer with a written certification stating that it is a beneficial owner of a Note, together with supporting documentation supporting that statement (which may include, but is not limited to, a trade
confirmation, an account statement or a letter from a broker or dealer verifying ownership) before the Servicer delivers such Review Report to such Noteholder; provided, further, that if such Review Report contains personally
identifiable information regarding Lessees, then the Servicer may condition its delivery of that portion of the Review Report to the requesting Noteholder on such Noteholder’s delivery to the Servicer of an agreement acknowledging that such
Noteholder may use such information only for the limited purpose of assessing the nature of the related breaches of representations and warranties and may not use that information for any other purpose. 

SECTION 3.17. Regulation RR Risk Retention. GM Financial, as Sponsor, agrees that (a) GM Financial will cause the Depositor to,
and the Depositor will, retain the “eligible horizontal residual interest” (the “Retained Interest”) (as defined in the Credit Risk Retention Rules) on the 2022-3 Closing Date, and
(b) GM Financial will not, and will cause the Depositor and each affiliate of GM Financial not to, sell, transfer, finance, pledge or hedge the Retained Interest except as permitted by the Credit Risk Retention Rules. The representations and
warranties set forth in this Section 3.17 shall survive the termination of this Agreement and resignation by, or termination of, GM Financial in its capacity as Servicer hereunder. 

[Remainder of Page Intentionally Left Blank] 

  
 23 

 IN WITNESS WHEREOF, the parties hereto have caused this
2022-3 Servicing Supplement to be duly executed by their respective officers duly authorized as of the day and year first above written. 

 

			
	 ACAR LEASING LTD.,

		
	 By:
	 	Wilmington Trust Company, not in its individual capacity but solely as Owner Trustee
		
	 By:
	 	 
	 Name:

	 Title:

	
	AMERICREDIT FINANCIAL SERVICES, INC. d/b/a GM Financial, in its individual capacity and as Servicer
		
	 By:
	 	 
	 Name:

	 Title:

	
	 APGO TRUST, as Settlor

		
	 By:
	 	Wilmington Trust Company, not in its individual capacity but solely as Owner Trustee
		
	 By:
	 	 
	 Name:

	 Title:

	
	COMPUTERSHARE TRUST COMPANY, N.A., not in its individual capacity but solely as Indenture Trustee
		
	 By:
	 	 
	 Name:

	 Title:

 [Signature Page to the 2022-3 Servicing Supplement] 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Collateral Agent
	
	By: Computershare Trust Company, N.A., as Attorney in Fact
		
	 By:
	 	 
	Name:	 	
	Title:	 	

 [Signature Page to the 2022-3 Servicing Supplement] 

 

 EXHIBIT A 

FORM OF SERVICER REPORT 
 [See
Attached] 

  
 A-1

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