Document:

EX-10.6

 Exhibit 10.6 

FIFTH THIRD AUTO TRUST 2017-1 

AMENDED AND RESTATED TRUST AGREEMENT 

among 
 FIFTH THIRD
HOLDINGS FUNDING, LLC, 
 as the Depositor, 
  

THE BANK OF NEW YORK MELLON, 

as the Owner Trustee 

and 
 BNY MELLON TRUST
OF DELAWARE, 
 as the Delaware Trustee 

Dated as of September 20, 2017 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	ARTICLE I           DEFINITIONS	  	 	1	 
			
	 SECTION 1.1
	  	 Capitalized Terms
	  	 	1	 
			
	 SECTION 1.2
	  	 Other Interpretive Provisions
	  	 	1	 
		
	 ARTICLE II         ORGANIZATION
	  	 	2	 
			
	 SECTION 2.1
	  	 Name
	  	 	2	 
			
	 SECTION 2.2
	  	 Office
	  	 	2	 
			
	 SECTION 2.3
	  	 Purposes and Powers
	  	 	2	 
			
	 SECTION 2.4
	  	 Appointment of the Owner Trustee and the Delaware Trustee
	  	 	3	 
			
	 SECTION 2.5
	  	 Initial Capital Contribution of Trust Estate
	  	 	3	 
			
	 SECTION 2.6
	  	 Declaration of Trust
	  	 	3	 
			
	 SECTION 2.7
	  	 Organizational Expenses; Liabilities of the Holders
	  	 	4	 
			
	 SECTION 2.8
	  	 Title to the Trust Estate
	  	 	4	 
			
	 SECTION 2.9
	  	 Representations and Warranties of the Depositor
	  	 	4	 
		
	ARTICLE III         CERTIFICATES AND TRANSFER OF CERTIFICATES	  	 	5	 
			
	 SECTION 3.1
	  	 Initial Ownership
	  	 	5	 
			
	 SECTION 3.2
	  	 Authentication of Certificates
	  	 	5	 
			
	 SECTION 3.3
	  	 Form of the Certificates
	  	 	6	 
			
	 SECTION 3.4
	  	 Registration of Certificates
	  	 	6	 
			
	 SECTION 3.5
	  	 Transfer of Certificates
	  	 	6	 
			
	 SECTION 3.6
	  	 Lost, Stolen, Mutilated or Destroyed Certificates
	  	 	11	 
			
	 SECTION 3.7
	  	 Appointment of the Certificate Paying Agent
	  	 	11	 
			
	 SECTION 3.8
	  	 Maintenance of Office or Agency
	  	 	12	 
		
	ARTICLE IV        ACTIONS BY OWNER TRUSTEE	  	 	12	 
			
	 SECTION 4.1
	  	 Prior Notice to Certificateholders with Respect to Certain Matters
	  	 	12	 
			
	 SECTION 4.2
	  	 Action by Certificateholders with Respect to Certain Matters
	  	 	13	 
			
	 SECTION 4.3
	  	 Action by Certificateholders with Respect to Bankruptcy
	  	 	13	 
			
	 SECTION 4.4
	  	 Restrictions on Certificateholders’ Power
	  	 	13	 
			
	 SECTION 4.5
	  	 Acts of Certificateholders; Majority Control
	  	 	13	 
			
	 SECTION 4.6
	  	 Compliance with the FDIC Rule
	  	 	14	 

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	 	  	Page	 
		
	ARTICLE V         APPLICATION OF TRUST FUNDS; CERTAIN DUTIES	  	 	14	 
			
	 SECTION 5.1
	  	Application of Trust Funds	  	 	14	 
			
	 SECTION 5.2
	  	Sarbanes-Oxley Act	  	 	15	 
			
	 SECTION 5.3
	  	Signature on Returns; Tax Matters Partner; Partnership Representative	  	 	15	 
			
	 SECTION 5.4
	  	Accounting and Reports to Certificateholders, the Internal Revenue Service and Others	  	 	16	 
			
	 SECTION 5.5
	  	Method of Payment	  	 	16	 
			
	 SECTION 5.6
	  	Certificate Distribution Account	  	 	16	 
			
	 SECTION 5.7
	  	FATCA	  	 	16	 
		
	ARTICLE VI        AUTHORITY AND DUTIES OF OWNER TRUSTEE	  	 	17	 
			
	 SECTION 6.1
	  	General Authority	  	 	17	 
			
	 SECTION 6.2
	  	General Duties	  	 	17	 
			
	 SECTION 6.3
	  	Action upon Instruction	  	 	17	 
			
	 SECTION 6.4
	  	No Duties Except as Specified in this Agreement or in Instructions	  	 	19	 
			
	 SECTION 6.5
	  	No Action Except under Specified Documents or Instructions	  	 	19	 
			
	 SECTION 6.6
	  	Restrictions	  	 	19	 
			
	 SECTION 6.7
	  	Relevant Trustee	  	 	19	 
			
	 SECTION 6.8
	  	Reporting	  	 	19	 
		
	ARTICLE VII      CONCERNING THE OWNER TRUSTEE AND THE DELAWARE TRUSTEE	  	 	20	 
			
	 SECTION 7.1
	  	Acceptance of Trusts and Duties	  	 	20	 
			
	 SECTION 7.2
	  	Preservation of Information; Communications to Certificateholders	  	 	22	 
			
	 SECTION 7.3
	  	Statements to Certificateholders	  	 	23	 
			
	 SECTION 7.4
	  	Notice of Events of Default	  	 	23	 
			
	 SECTION 7.5
	  	Representations and Warranties	  	 	23	 
			
	 SECTION 7.6
	  	Reliance; Advice of Counsel	  	 	25	 
			
	 SECTION 7.7
	  	Not Acting in Individual Capacity	  	 	25	 
			
	 SECTION 7.8
	  	The Owner Trustee and the Delaware Trustee May Own Notes	  	 	26	 

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	 	  	Page	 
			
	 SECTION 7.9
	  	 Rule 144A Information
	  	 	26	 
			
	 SECTION 7.10
	  	 Duties of the Delaware Trustee
	  	 	26	 
		
	 ARTICLE VIII     COMPENSATION AND INDEMNIFICATION OF THE OWNER

                          
    TRUSTEE AND THE DELAWARE TRUSTEE
	  	 	26	 
			
	 SECTION 8.1
	  	 The Owner Trustee’s and the Delaware Trustee’s Compensation
	  	 	27	 
			
	 SECTION 8.2
	  	 Indemnification
	  	 	27	 
			
	 SECTION 8.3
	  	 Payments to the Owner Trustee and to the Delaware Trustee
	  	 	28	 
			
	 SECTION 8.4
	  	 Rights, Protections, Immunities and Indemnities of the Certificate Paying Agent Relevant Trustee and Paying
Agent
	  	 	28	 
		
	ARTICLE IX        TERMINATION OF TRUST AGREEMENT	  	 	28	 
			
	 SECTION 9.1
	  	 Termination of Trust Agreement
	  	 	28	 
			
	 SECTION 9.2
	  	 Dissolution of the Issuer
	  	 	29	 
			
	 SECTION 9.3
	  	 Limitations on Termination
	  	 	29	 
		
	 ARTICLE X         SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER

                          
   TRUSTEES
	  	 	30	 
			
	 SECTION 10.1
	  	 Eligibility Requirements for the Owner Trustee and the Delaware Trustee
	  	 	30	 
			
	 SECTION 10.2
	  	 Resignation or Removal of the Owner Trustee and the Delaware Trustee
	  	 	30	 
			
	 SECTION 10.3
	  	 Successor Owner Trustee or Delaware Trustee
	  	 	31	 
			
	 SECTION 10.4
	  	 Merger or Consolidation of the Owner Trustee or the Delaware Trustee
	  	 	32	 
			
	 SECTION 10.5
	  	 Appointment of Co-Trustee or Separate Trustee
	  	 	32	 
		
	ARTICLE XI        MISCELLANEOUS	  	 	33	 
			
	 SECTION 11.1
	  	 Amendments
	  	 	33	 
			
	 SECTION 11.2
	  	 No Legal Title to Trust Estate in Certificateholders
	  	 	35	 
			
	 SECTION 11.3
	  	 Limitations on Rights of Others
	  	 	35	 
			
	 SECTION 11.4
	  	 Notices
	  	 	35	 
			
	 SECTION 11.5
	  	 Severability
	  	 	36	 
			
	 SECTION 11.6
	  	 Separate Counterparts
	  	 	36	 
			
	 SECTION 11.7
	  	 Successors and Assigns
	  	 	36	 

  
 -iii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	 	  	Page	 
			
	 SECTION 11.8
	  	 No Petition
	  	 	36	 
			
	 SECTION 11.9
	  	 Headings
	  	 	38	 
			
	 SECTION 11.10
	  	 Governing Law
	  	 	38	 
			
	 SECTION 11.11
	  	 Waiver of Jury Trial
	  	 	38	 
			
	 SECTION 11.12
	  	 Information Requests
	  	 	38	 
			
	 SECTION 11.13
	  	 Form 10-D and Form 10-K Filings
	  	 	38	 
			
	 SECTION 11.14
	  	 Form 8-K Filings
	  	 	39	 
			
	 SECTION 11.15
	  	 Information to Be Provided by the Owner Trustee
	  	 	39	 
			
	 SECTION 11.16
	  	 USA Patriot Act Compliance
	  	 	39	 

  

			
	 Exhibit A
	  	Form of Certificate
	 Exhibit B
	  	Form of Certificate Investor Representation Letter
	 Exhibit C
	  	Form of Notice Requests to Repurchase Receivables
	 Exhibit D
	  	Form of Registration of Certificate Transfer Direction Letter Pursuant to the Trust Agreement
	 Exhibit E
	  	Form of Owner Trustee’s Annual Certification Regarding Item 1117 and Item 1119 of Regulation AB

  
 -iv- 

 This AMENDED AND RESTATED TRUST AGREEMENT is made as of September 20,
2017 (as amended, supplemented or otherwise modified and in effect from time to time, this “Agreement”) among FIFTH THIRD HOLDINGS FUNDING, LLC, a Delaware limited liability company, as the depositor (the
“Depositor”), THE BANK OF NEW YORK MELLON, a New York banking corporation, as the owner trustee (in such capacity, the “Owner Trustee”), and BNY MELLON TRUST OF DELAWARE, a Delaware banking
corporation, as the Delaware trustee (in such capacity, the “Delaware Trustee”). 
 RECITALS 

WHEREAS, the Depositor, the Owner Trustee and the Delaware Trustee entered into that certain Trust Agreement dated as of
August 21, 2017 (the “Original Trust Agreement”) and filed a certificate of trust with the Secretary of State of the State of Delaware, pursuant to which the Issuer (as defined below) was created; and 

WHEREAS, in connection with the issuance of the Notes, the parties have agreed to amend and restate the Original Trust
Agreement; 
 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 agree as follows: 
 ARTICLE I 

DEFINITIONS 

SECTION 1.1 Capitalized Terms. Unless otherwise indicated, capitalized terms used in this Agreement are defined in
Appendix A to the Sale Agreement dated as of the date hereof (as from time to time amended, supplemented or otherwise modified and in effect, the “Sale Agreement”) between the Issuer and the Seller, which contains rules as to
usage that are applicable herein. 
 SECTION 1.2 Other Interpretive Provisions. All terms defined in this Agreement
shall have the defined meanings when used in any certificate or other document delivered pursuant hereto unless otherwise defined therein. For purposes of this Agreement and all such certificates and other documents, unless the context otherwise
requires: (a) accounting terms not otherwise defined in this Agreement, and accounting terms partly defined in this Agreement to the extent not defined, shall have the respective meanings given to them under GAAP (provided, that, to the extent
that the definitions in this Agreement and GAAP conflict, the definitions in this Agreement shall control); (b) terms defined in Article 9 of the UCC as in effect in the State of Delaware and not otherwise defined in this Agreement are used as
defined in that Article; (c) the words “hereof,” “herein” and “hereunder” and words of similar import refer to this Agreement as a whole and not to any particular provision of this Agreement; (d) references to
any Article, Section, Schedule or Exhibit are references to Articles, Sections, Schedules and Exhibits in or to this Agreement, and references to any paragraph, subsection, clause or other subdivision within

  

					
		 		 	

 
any Section or definition refer to such paragraph, subsection, clause or other subdivision of such Section or definition; (e) the term “including” and all such variations thereof
means “including without limitation”; (f) references to any law or regulation refer to that law or regulation as amended from time to time and include any successor law or regulation; (g) references to any Person include that
Person’s successors and assigns; and (h) headings are for purposes of reference only and shall not otherwise affect the meaning or interpretation of any provision hereof. 

ARTICLE II 

ORGANIZATION 

SECTION 2.1 Name. The trust created under the Original Trust Agreement and continued hereby is known as “Fifth
Third Auto Trust 2017-1” (the “Issuer”), in which name the Owner Trustee, the Delaware Trustee, the Administrator and the Servicer (to the extent set forth in the Transaction Documents)
may conduct the business of such trust, make and execute contracts and other instruments on behalf of such trust and sue and be sued. 

SECTION 2.2 Office. The Delaware office of the Issuer shall be in the care of the Delaware Trustee at its Corporate
Trust Office, or at such other address in the State of Delaware as the Delaware Trustee may designate by written notice to each Certificateholder, the Depositor and the Administrator. The New York, New York office of the Issuer shall be in care of
the Owner Trustee at its Corporate Trust Office or at such other address as the Owner Trustee may designate by written notice to each Certificateholder, the Depositor and the Administrator. 

SECTION 2.3 Purposes and Powers. The purpose of the Issuer is, and the Issuer shall have the power and authority, to
engage in the following activities: 
 (a)    to issue the Notes pursuant to the
Indenture and to issue the Certificates pursuant to this Agreement, and to sell, transfer and exchange the Notes and the Certificates and to pay interest on and principal of the Notes to the Noteholders and to make distributions to the
Certificateholders; 
 (b)    to acquire the property and assets set forth in the Sale
Agreement from the Depositor pursuant to the terms thereof, to make deposits to and withdrawals from the Collection Account, the Principal Distribution Account, the Designated Certificateholder Account and the Reserve Account and to pay the
organizational, start-up and transactional expenses of the Issuer; 

(c)    to assign, Grant, transfer, pledge, mortgage and convey the Trust Estate pursuant
to the Indenture and to hold, manage and distribute to the Certificateholders any portion of the Trust Estate released from the lien of, and remitted to the Issuer pursuant to, the Indenture; 

(d)    to enter into and perform its obligations under the Transaction Documents to which
it is a party; 

  

					
		 	2	 	

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

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

The Owner Trustee is hereby authorized to engage in the foregoing activities on behalf of the Issuer. Neither the Issuer nor the Owner Trustee
on behalf of the Issuer shall engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement or the other Transaction Documents. 

SECTION 2.4 Appointment of the Owner Trustee and the Delaware Trustee. Upon execution of this Agreement, the Owner
Trustee shall continue as owner trustee of the Issuer and shall have all the rights, powers and duties set forth herein. Upon execution of this Agreement, the Delaware Trustee shall continue as Delaware trustee of the Issuer for the sole purpose of
satisfying Section 3807(a) of the Statutory Trust Statute. 
 SECTION 2.5 Initial Capital Contribution of Trust
Estate. As of the date of the Original Trust Agreement, the Depositor sold, assigned, transferred, conveyed and set over to the Owner Trustee the sum of $1. The Owner Trustee hereby acknowledges receipt in trust from the Depositor, as of
such date, of the foregoing contribution, which shall constitute the initial Trust Estate. 
 SECTION 2.6 Declaration of
Trust. The Owner Trustee hereby declares that it will hold the Trust Estate in trust upon and subject to the conditions set forth herein for the use and benefit of the Certificateholders, subject to the obligations of the Issuer under the
Transaction Documents. It is the intention of the parties hereto that the Issuer constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of such statutory trust and that, for United
States federal, state and local income, franchise and value added tax purposes, (i) for so long as the Issuer has, or is deemed to have, a single beneficial owner, it shall be disregarded as an entity separate from its single beneficial owner
and (ii) if the Issuer has, or is deemed to have, more than one beneficial owner it shall be treated as a partnership that is not a “publicly traded partnership” as defined in Treasury Regulation
Section 1.7704-1 promulgated under the Code, and this Agreement shall be amended to include such provisions as may be required under Subchapter K of the Code. The parties hereto agree that the Issuer will
file or cause to be filed annual or other necessary tax returns, reports and other forms consistent with the foregoing tax characterization of the Issuer, as applicable, unless otherwise required by pertinent tax law. No election shall be made by or
on behalf of the Issuer to be classified as an association taxable as a corporation for United States federal income tax purposes. Effective as of the date hereof, the Owner Trustee and the Delaware Trustee, as applicable, shall have all rights,
powers and duties set forth herein and, to the extent not inconsistent herewith, in the Statutory Trust Statute with respect to accomplishing the purposes of the Issuer. The Owner Trustee and the Delaware Trustee filed the Certificate of Trust with
the 

  

					
		 	3	 	

 
Secretary of State of the State of Delaware as required by Section 3810(a) of the Statutory Trust Statute, such filing hereby being ratified and approved in all respects. Notwithstanding
anything herein or in the Statutory Trust Statute to the contrary, it is the intention of the parties hereto that the Issuer constitute a “business trust” within the meaning of Section 101(9)(A)(v) of the Bankruptcy Code. 

SECTION 2.7 Organizational Expenses; Liabilities of the Holders. 

(a)    The Servicer shall pay organizational expenses of the Issuer as they may arise.

 (b)    No Certificateholder (including the Depositor) shall have any personal
liability for any liability or obligation of the Issuer. 
 SECTION 2.8 Title to the Trust Estate. Legal title to all
of the Trust Estate shall be vested at all times in the Issuer as a separate legal entity. 
 SECTION 2.9 Representations
and Warranties of the Depositor. The Depositor hereby represents and warrants to the Owner Trustee and the Delaware Trustee that: 

(a)    Existence and Power. The Depositor is a limited liability company validly
existing and in good standing under the laws of the State of Delaware and has, in all material respects, all power and authority required to carry on its business as now conducted. The Depositor has obtained all necessary licenses and approvals in
each jurisdiction where the failure to do so would materially and adversely affect the ability of the Depositor to perform its obligations under the Transaction Documents. 

(b)    Authorization and No Contravention. The execution, delivery and performance
by the Depositor of each Transaction Document to which it is a party (i) have been duly authorized by all necessary limited liability company action on the part of the Depositor and (ii) do not contravene or constitute a default under
(A) any applicable law, rule or regulation, (B) its organizational instruments or (C) any material agreement, contract, order or other instrument to which it is a party or its property is subject (other than, in the case of clauses
(A), (B) and (C), violations which do not affect the legality, validity or enforceability of any of such agreements and which, individually or in the aggregate, would not materially and adversely affect the transactions contemplated by, or the
Depositor’s ability to perform its obligations under, the Transaction Documents to which it is a party). 

(c)    No Consent Required. No approval or authorization by, or filing with, any
Governmental Authority is required in connection with the execution, delivery and performance by the Depositor of any Transaction Document other than (i) UCC filings, (ii) approvals and authorizations that have previously been obtained and
filings which have previously been made and (iii) approvals, authorizations or filings which, if not obtained or made, would not have a material 

  

					
		 	4	 	

 
adverse effect on the ability of the Depositor to perform its obligations under the Transaction Documents to which it is a party. 

(d)    Binding Effect. Each Transaction Document to which the Depositor is a party
constitutes the legal, valid and binding obligation of the Depositor enforceable against the Depositor in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium,
receivership, conservatorship or other similar laws affecting the enforcement of creditors’ rights generally and, if applicable, the rights of creditors of limited liability companies from time to time in effect or by general principles of
equity. 
 (e)    No Proceedings. There are no Proceedings pending or, to the
knowledge of the Depositor, threatened against the Depositor before or by any Governmental Authority that (i) assert the invalidity or unenforceability of this Agreement or any of the other Transaction Documents, (ii) seek to prevent the
issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the other Transaction Documents, (iii) seek any determination or ruling that would materially and adversely affect the performance by
the Depositor of its obligations under this Agreement or any of the other Transaction Documents or the collectability or enforceability of the Receivables or (iv) relate to the Depositor that would materially and adversely affect the federal or
Applicable Tax State income, excise, franchise or similar tax attributes of the Notes. 

(f)    Situs of Issuer. The Issuer shall be located in the State of Delaware and
administered in the State of Delaware or the State of New York. All bank accounts maintained by the Owner Trustee on behalf of the Issuer shall be located in the State of Delaware or the State of New York. The Issuer shall not have any employees in
any state; provided, however, that nothing herein shall restrict or prohibit the Owner Trustee from having employees within or without the State of Delaware. Payments will be received by the Issuer only in Delaware or New York and
payments will be made by the Issuer only from Delaware or New York. 
 ARTICLE III 

CERTIFICATES AND TRANSFER OF CERTIFICATES 

SECTION 3.1 Initial Ownership. Upon the formation of the Issuer and until the issuance of the Certificates, the
Depositor shall be the sole beneficiary of the Issuer; and upon the issuance of the initial Certificate, the Depositor will no longer be a beneficiary of the Issuer, except to the extent that the Depositor is a Certificateholder. 

SECTION 3.2 Authentication of Certificates. 

  

					
		 	5	 	

 (a)    Concurrently with the sale of the
Transferred Assets to the Issuer pursuant to the Sale Agreement, the Owner Trustee shall cause the Certificates to be executed on behalf of the Issuer, authenticated and delivered to or upon the written order of the Depositor, signed by its chairman
of the board, its president, its chief financial officer, its chief accounting officer, any vice president, its secretary, any assistant secretary, its treasurer or any assistant treasurer, without further corporate action by the Depositor. 

(b)    The Certificates shall represent 100% of the beneficial interest in the Issuer and
shall, to the fullest extent permitted by applicable law, be fully paid and nonassessable. 
 SECTION 3.3 Form of the
Certificates. The initial Certificate, upon issuance, will be a typewritten, definitive Certificate substantially in the form of Exhibit A hereto and shall be registered in the name of Fifth Third Holdings Funding, LLC or its nominee as the
initial registered owner thereof. 
 SECTION 3.4 Registration of Certificates. The Owner Trustee, in its capacity as
“Certificate Registrar” shall maintain at its office referred to in Section 2.2, or at the office of any agent appointed by it and approved in writing by the Certificateholders at the time of such appointment, a
register (the “Certificate Register”) for the registration and transfer of any Certificate, and the Owner Trustee or such agent shall promptly notify the Indenture Trustee of any change in the registered ownership of a Certificate.
Prior to the presentment for registration of transfer of any Certificate, the Owner Trustee and the Indenture Trustee or any agent of the Owner Trustee, the Indenture Trustee and the Depositor may treat the Person in whose name any Certificate is
registered (as of the applicable Record Date) as the owner of such Certificate for the purpose of receiving distributions on such Certificate and for all other purposes whatsoever and unless the Certificate Register is notified of such change in
ownership the only available recourse such transferee shall have shall be to the person in whose name the related Certificate is registered. 

SECTION 3.5    Transfer of Certificates. (a) Any Certificateholder may assign, convey or
otherwise transfer all or any of its right, title and interest in the related Certificate; provided, that: 

(i)    (a) such transferee is either an Affiliate of the Depositor or (b) (1) is a
Qualified Institutional Buyer, (2) is aware that the sale or resale of the Certificates to it is being made in reliance on the exemption from registration provided by Rule 144A, and (3) is acquiring the Certificates for its own account or
for one or more accounts, each of which is a Qualified Institutional Buyer, and as to each of which the owner exercises sole investment discretion; 

(ii)    such transferee understands that the Certificates will bear the applicable
legends set forth in Section 3.5(h); 
 (iii)    such
transferee understands that the Certificates are being offered only in a transaction not involving any public offering in the United States within 

  

					
		 	6	 	

 
the meaning of the Securities Act, none of the Certificates have been or will be registered under the Securities Act, and, if in the future the transferee decides to offer, resell, pledge or
otherwise transfer the Certificates, such Certificates may be offered, resold, pledged or otherwise transferred solely in accordance with this Agreement and the applicable legend on such Certificates set forth below; 

(iv)    such transferee understands that an investment in the Certificates involves
certain risks, including the risk of loss of all or a substantial part of its investment under certain circumstances. The transferee has had access to such financial and other information concerning the Issuer and the Certificates as it deemed
necessary or appropriate in order to make an informed investment decision with respect to its purchase of the Certificates. The transferee has such knowledge and experience in financial and business matters that the transferee is capable of
evaluating the merits and risks of its investment in the Certificates, and the transferee and any accounts for which it is acting are each able to bear the economic risk of the holder’s or of such investment; 

(v)    such transferee will not offer, transfer, pledge, sell or otherwise dispose of the
Certificates or any interest in the Certificates to any Person in any manner, or solicit any offer to buy, transfer, pledge or otherwise dispose of the Certificates or any interest in the Certificates from any Person in any manner, or make any
general solicitation by means of general advertising or in any other manner, or take any other action that would constitute a distribution of the Certificates under the Securities Act or that would render the disposition of the Certificates a
violation of Section 5 of the Securities Act or any other applicable securities laws or require registration pursuant thereto, and will not authorize any Person to act on its behalf, in such manner with respect to the Certificates; 

(vi)    the Owner Trustee and the Issuer determine (based on the advice of counsel or
such other information as they deem necessary or advisable) that the transfer complies with the requirements of clauses (d) and (f) of this Section 3.5; 

(vii)    such Certificate may not be acquired by or for the account of or with the assets
of a Benefit Plan or a governmental, church, non-U.S. or other plan which is subject to any Similar Law; 

(viii)    unless such transferee is an Affiliate of the Depositor, the transferee
provides a Certificate Investor Representation Letter substantially in the form of Exhibit B; and 

(ix)    such transferee acknowledges that the Issuer, the Owner Trustee and others will
rely upon the truth and accuracy of the acknowledgements, representations, warranties and agreements in this Section 3.5 and agrees that if any of the acknowledgements, representations, warranties or agreements made by it
in connection with its purchase of the Certificates are no longer accurate, the transferee will promptly notify the Issuer and the Owner Trustee. 

  

					
		 	7	 	

 Each Certificateholder will represent and warrant that it is not (and will not
be) a Benefit Plan or a governmental, church, non-U.S. or other plan which is subject to any Similar Law and is not (and will not be) accepting or holding such Certificate (or any interest therein) on behalf
of or with assets of a Benefit Plan or a governmental, non-U.S. or church plan which is subject to Similar Law. The Owner Trustee shall have no duty to independently determine that the requirement in clause
(vi) above is met and shall incur no liability to any Person in the event the Certificateholder does not comply with such restrictions. Subject to the transfer restrictions contained herein and in the Certificates, any Certificateholder may
transfer all or any portion of the Percentage Interest evidenced by such Certificate upon surrender thereof to the Owner Trustee accompanied by the documents required by this Section. Such transfer may be made by a registered Certificateholder in
person or by his attorney duly authorized in writing upon surrender of the Certificate to the Owner Trustee accompanied by (a) a written instrument of transfer in the form of the “Assignment” attached to the Form of Certificate
attached hereto as Exhibit A and with such signature guarantees and evidence of authority of the Persons signing the instrument of transfer as the Owner Trustee may reasonably require, (b) an executed direction letter regarding
registration of such transfer in the form attached hereto as Exhibit D, and (c) the documents required by Sections 3.5(a)(viii) and 3.5(f) hereof. Promptly upon the receipt of such documents and receipt by the Owner Trustee
of the transferor’s Certificate, the Owner Trustee shall record the name of such transferee as a Certificateholder and its Percentage Interest in the Certificate Register and issue, execute and deliver to such Certificateholder a Certificate
evidencing such Percentage Interest. In the event a transferor transfers only a portion of its Percentage Interest, the Owner Trustee shall register and issue to such transferor a new Certificate evidencing such transferor’s new Percentage
Interest and shall issue, execute and deliver to such transferee a new Certificate evidencing such transferee’s Percentage Interest. Subsequent to each transfer of beneficial interest and upon the issuance of the new Certificate or
Certificates, the Owner Trustee shall cancel and destroy the Certificate surrendered to it in connection with such transfer. The Owner Trustee may treat, for all purposes whatsoever (other than for purposes of clauses (d) and (e)
of this Section 3.5), the Person in whose name any Certificate is registered as the sole owner of the Percentage Interest evidenced by such Certificate. 

(b)    As a condition precedent to any registration of transfer under this
Section 3.5, the Owner Trustee may require the payment of a sum sufficient to cover the payment of any tax or taxes or other governmental charges required to be paid in connection with such transfer. 

(c)    The Owner Trustee shall not be obligated to register any transfer of a Certificate
unless the transferee has certified to the Owner Trustee that such transfer does not violate any of the transfer restrictions stated herein including, but not limited to clauses (d) and (e) of this
Section 3.5. The Owner Trustee shall not be liable to any Person for registering any transfer based on such certifications. 

(d)    No transfer (or purported transfer) of all or any part of a
Certificateholder’s interest (or any economic interest therein), whether to another Certificateholder or to a Person who is not a Certificateholder, shall be effective, 

  

					
		 	8	 	

 
and any such transfer (or purported transfer) shall be void ab initio, and no Person shall otherwise become a Certificateholder if, after such transfer (or purported transfer), the
Issuer would have more than 95 direct or indirect holders of an interest in the Certificates and the Retained Notes. For purposes of determining whether the Issuer will have more than 95 holders of an interest in the Certificates and the Retained
Notes, each Person indirectly owning an interest in a Certificate (or a Retained Note) through a partnership (including any entity treated as a partnership for United States federal income tax purposes), a grantor trust, an S corporation or an
entity wholly owned and disregarded as separate from (within the meaning of Treasury Regulation Section 301.7701-3) any of the foregoing (each such entity, a “flow-through entity”) shall be
treated as a Certificateholder (or as a Holder of a Retained Note), as applicable, unless the Depositor determines in its sole and absolute discretion, after consulting with qualified tax counsel, that less than substantially all of the value of the
beneficial owner’s interest in the flow-through entity is attributable to the flow-through entity’s interest (direct or indirect) in the Issuer. 

(e)    No transfer shall be permitted if such transfer is effected through an established
securities market or secondary market (or the substantial equivalent thereof) within the meaning of Code section 7704 and any proposed, temporary or final Treasury regulations thereunder. 

(f)    Each transferee shall provide a certification of
non-foreign status, in such form as may be requested by the Seller or the Owner Trustee (e.g., IRS Form W-9), signed under penalties of perjury (and such other
certification, representations or opinion of counsel as may be requested by the Seller or the Owner Trustee), or other information or documentation requested by the Seller or the Owner Trustee to determine, in its sole discretion, that payments on
such Certificates will not be subject to withholding under U.S. tax law. 
 (g)    If a
Responsible Officer of the Owner Trustee becomes aware that (1) a transfer or attempted or purported transfer of any Certificate or interest therein was consummated in compliance with the provisions of this Section 3.5
on the basis of a materially incorrect certification from the transferor or purported transferee, (2) a transferee failed to deliver to the Owner Trustee the certificate required to be delivered under
Section 3.5(a)(viii) or (3) the Certificateholder of any Certificate or interest therein is in material breach of any representation or agreement set forth in any certificate or any deemed representation or agreement
of such Certificateholder, the Owner Trustee will direct the Certificate Registrar not to register such attempted or purported transfer and, if a transfer has been registered, such transfer shall be absolutely null and void ab initio and shall not
operate to transfer any rights to the purported transferee (such purported transferee, a “Disqualified Transferee”) and the last preceding Certificateholder of such Certificateholder that was not a Disqualified Transferee shall be restored
to all rights as a Certificateholder thereof retroactively to the date of the purported transfer of such Certificate by such Certificateholder. 

  

					
		 	9	 	

 (h)    Each Certificate will bear a legend
to the following effect: 
 “THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”) OR ANY OTHER APPLICABLE SECURITIES OR “BLUE SKY” LAWS OF ANY STATE OR OTHER JURISDICTION. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE RESOLD, ASSIGNED, PLEDGED OR
OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OR ANY OTHER APPLICABLE SECURITIES OR “BLUE SKY” LAWS AND ONLY PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A
PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A “QIB”), PURCHASING FOR ITS OWN ACCOUNT OR THE ACCOUNT OF A QIB, WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE OR OTHER
TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A.” 
 (i)    In the event
Section 5.3(b) should apply to this Agreement, each transferee (including each purchaser and subsequent transferee as a condition precedent to any transfer of the Certificate) and, if different, each beneficial owner of a Certificate shall
promptly provide the Issuer, Depositor and Administrator any reasonably requested information, documentation or material to enable the Issuer to make any of the elections described in Section 5.3(b) and otherwise comply with Sections 6221
through 6241 of the Code (as amended by the Bipartisan Budget Act of 2015, P.L. No. 114-74). Each Certificateholder (including each purchaser and subsequent transferee as a condition precedent to any
transfer of the Certificate) and, if different, each beneficial owner of a Certificate shall hold the Issuer and its affiliates harmless for any expenses or losses (i) resulting from a beneficial owner of a Certificate not properly taking into
account or paying its allocated adjustment or liability under Section 6226 of the Code (as amended by the Bipartisan Budget Act of 2015, P.L. No. 114-74) and (ii) attributable to the good faith
management or defense of an audit under Sections 6221 through 6241 of the Code (as amended by the Bipartisan Budget Act of 2015, P.L. No. 114-74) or otherwise suffered due to actions the Issuer and its
affiliates take in good faith with respect to and to comply with the rules under Sections 6221 through 6241 of the Code (as amended by the Bipartisan Budget Act of 2015, P.L. No. 114-74). 

(j)    As of the effective date of this Agreement, the Depositor intends to retain the
Certificates. Although there is no present intent to effect any subsequent transfer of the Certificates, in the event that the Depositor did intend to transfer any of the Certificates to a third party, the parties to this Agreement pursuant to
Section 11(f) will amend the transfer provisions in this Section 3.5 as necessary to prevent any application of the Treasury Regulations under Section 385 of the Code (including any subsequent or successor provision) that would result
in the recharacterization of any of the Notes as equity. 

  

					
		 	10	 	

 SECTION 3.6 Lost, Stolen, Mutilated or Destroyed Certificates. If
(i) any mutilated Certificate is surrendered to the Owner Trustee or (ii) the Owner Trustee receives evidence to its satisfaction that any Certificate has been destroyed, lost or stolen, and upon proof of ownership satisfactory to the
Owner Trustee together with such security or indemnity on behalf of the Issuer as may be requested by the Owner Trustee to save it harmless, then, in the absence of notice to the Owner Trustee that such Certificate has been acquired by a protected
purchaser, the Owner Trustee shall execute and deliver a new Certificate for the same Percentage Interest in the Issuer as the Certificate so mutilated, destroyed, lost or stolen, of like tenor and bearing a different issue number, with such
notations, if any, as the Owner Trustee shall determine. Upon the issuance of any new Certificate under this Section 3.6, the Issuer or Owner Trustee may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any transfer or exchange of the Certificate and any other reasonable expenses (including the reasonable fees and expenses of the Issuer and the Owner Trustee) connected therewith. If, after
the delivery of such new Certificate a protected purchaser of the original Certificate in lieu of which such new Certificate was issued presents such original Certificate for transfer or payment, the Issuer and Owner Trustee shall be entitled to
recover such new Certificate from the Person to whom it was delivered or any Person taking title therefrom, except a protected purchaser, and the Issuer and Owner Trustee shall be entitled to recover upon the security or indemnity provided therefor
to the extent of any loss, damage, cost or expense incurred by the Issuer and Owner Trustee, in connection therewith. Any duplicate Certificate issued pursuant to this Section 3.6 shall constitute complete and indefeasible
evidence of ownership in the Issuer, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. The provisions of this Section 3.6 are exclusive and shall preclude (to the
extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, defaced, destroyed, lost or stolen Certificates. 

SECTION 3.7 Appointment of the Certificate Paying Agent. At any time that a Certificate Distribution Account exists,
having been established in accordance with the terms of the Indenture, the Certificate Paying Agent shall make distributions to Certificateholders from the Certificate Distribution Account pursuant to Section 5.5 and shall
report the amounts of such distributions to the Owner Trustee and the Servicer. Any Certificate Paying Agent shall have the revocable power to withdraw funds from the Certificate Distribution Account for the purpose of making the distributions
referred to above. The Owner Trustee may revoke such power and remove the Certificate Paying Agent if the Owner Trustee determines in its sole discretion that the Certificate Paying Agent shall have failed to perform its obligations under this
Agreement in any material respect. The Certificate Paying Agent shall initially be The Bank of New York Mellon, and any co-paying agent chosen by the Certificate Paying Agent. The Bank of New York Mellon shall
be permitted to resign as Certificate Paying Agent upon thirty (30) days’ written notice to the Owner Trustee. If The Bank of New York Mellon shall no longer be the Certificate Paying Agent, the Administrator shall appoint a successor to
act as Certificate Paying Agent (which shall be a bank or a trust company). The Administrator shall cause such successor Certificate Paying Agent or any additional Certificate Paying Agent appointed by the Administrator to execute and deliver to the
Owner Trustee a written agreement in which such successor Certificate Paying Agent or additional Certificate Paying Agent shall agree with the Owner Trustee that, as Certificate Paying Agent, such successor Certificate Paying Agent or additional
Certificate Paying Agent shall hold all sums, if any, held by it for payment to the 

  

					
		 	11	 	

 
Certificateholders in trust for the benefit of the Certificateholders entitled thereto until such sums shall be paid to such Certificateholders. Subject to applicable laws with respect to the
escheat of funds, the Certificate Paying Agent shall return all funds that have remained unclaimed by a Certificateholder for two (2) years to the Owner Trustee. Immediately upon its removal, a Certificate Paying Agent shall return all funds
(including any unclaimed funds) in its possession to the Owner Trustee. The rights, protections and indemnities of the Owner Trustee under Article VII and Sections 8.2 and 9.2 of this Agreement shall apply to the Owner Trustee
also in its role as Certificate Paying Agent for so long as the Owner Trustee shall act as Certificate Paying Agent and, to the extent applicable, to any other paying agent appointed hereunder. Any reference in this Agreement to the Certificate
Paying Agent shall include any co-paying agent unless the context requires otherwise. 

SECTION 3.8 Maintenance of Office or Agency. As long as any of the Certificates remain Outstanding, the Issuer shall
maintain at the applicable Corporate Trust Office, an office or agency where Certificates may be surrendered for registration of transfer or exchange, and where notices and demands to or upon the Issuer in respect of the Certificates and this
Agreement may be served. The Issuer hereby initially appoints the Owner Trustee to serve as its agent for the foregoing purposes. The Issuer shall give prompt written notice to the Owner Trustee of the location, and of any change in the location, of
any such office or agency. If at any time the Issuer shall fail to maintain any such office or agency or shall fail to furnish the Owner Trustee with the address thereof, such surrenders, notices and demands may be made or served at the applicable
Corporate Trust Office, and the Issuer hereby appoints the Owner Trustee as its agent to receive all such surrenders, notices and demands. 

ARTICLE IV 
 ACTIONS BY
OWNER TRUSTEE 
 SECTION 4.1 Prior Notice to Certificateholders with Respect to Certain Matters. With respect to
the following matters, unless the Indenture, the Sale Agreement or the Servicing Agreement, as applicable, provides that the consent of the Certificateholders shall not be required, the Owner Trustee shall not take action unless at least thirty
(30) days before the taking of such action (or such shorter notice acceptable to the Certificateholders), the Owner Trustee shall have notified each Certificateholder in writing of the proposed action and each Certificateholder shall not have
notified the Owner Trustee in writing prior to the thirtieth (30th) day (or such shorter notice acceptable to the Certificateholders) after such notice is given that such Certificateholder has
withheld consent or provided alternative direction: 
  

	 	(a)	 the appointment pursuant to the Indenture of a successor Indenture Trustee; 

 

	 	(b)	 the appointment pursuant to the Servicing Agreement of a successor Servicer; or 

  

					
		 	12	 	

	 	(c)	 the consent to the assignment by the Note Registrar or the Indenture Trustee of its obligations under the
Indenture or this Agreement. 

 SECTION 4.2 Action by Certificateholders with Respect to Certain
Matters. The Owner Trustee shall not have the power, except upon the direction of the Majority Certificateholders, to (a) except as expressly provided in the Transaction Documents, sell the Collateral after the termination of the Indenture
in accordance with its terms, (b) remove the Administrator pursuant to Section 8 of the Administration Agreement or (c) appoint a successor Administrator pursuant to Section 8 of the
Administration Agreement. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders at the time of such action. 

SECTION 4.3 Action by Certificateholders with Respect to Bankruptcy. To the fullest extent permitted by law, the Owner
Trustee shall not have the power to commence a voluntary Proceeding in bankruptcy relating to the Issuer until one year and one day after the Note Balance of all Notes has been reduced to zero without the prior written approval of each
Certificateholder and the delivery to the Owner Trustee by each Certificateholder of a certification that such Certificateholders reasonably believe that the Issuer is insolvent. 

SECTION 4.4 Restrictions on Certificateholders’ Power. No Certificateholder shall direct the Owner
Trustee to take or refrain from taking any action if such action or inaction would be contrary to (i) any obligation of the Issuer or the Owner Trustee under this Agreement or any of the Transaction Documents,
(ii) Section 2.3 or (iii) applicable law, nor shall the Owner Trustee be obligated to follow any such direction, if given. 

SECTION 4.5 Acts of Certificateholders; Majority Control. (a) Any request, demand, authorization,
direction, notice, consent, waiver or other action provided by this Agreement to be given or taken by Certificateholders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Certificateholders in
person or by agents duly appointed in writing; and except as herein otherwise expressly provided such action shall become effective when such instrument or instruments are delivered to the Owner Trustee, and, where it is hereby expressly required,
to the Issuer. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Certificateholders signing such instrument or instruments. Proof of execution of any
such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Agreement and (subject to Article VI) conclusive in favor of the Owner Trustee and the Issuer, if made in the manner provided in this Section. 

(b)    The fact and date of the execution by any person of any such instrument or writing
may be proved in any manner that the Owner Trustee deems sufficient. 
 (c)    The
ownership of Certificates shall be proved by the Certificate Register. 

  

					
		 	13	 	

 (d)    Any request, demand, authorization,
direction, notice, consent, waiver or other action by any Certificateholder shall bind the Holder of every Certificate issued upon the registration thereof or in exchange therefor or in lieu thereof, in respect of anything done, omitted or suffered
to be done by the Owner Trustee or the Issuer in reliance thereon, whether or not notation of such action is made upon such Certificate. 

(e)    Except as otherwise provided herein, to the extent that there is more than one
Certificateholder, any action which may be taken or consent or instructions which may be given by the Certificateholder under this Agreement may be taken by the Majority Certificateholders at the time of such action. 

SECTION 4.6 Compliance with the FDIC Rule. The Owner Trustee shall (i) perform the covenants set forth in
Article XII of the Indenture applicable to it and (ii) use reasonable efforts to comply with any request of the Depositor or the Servicer to facilitate compliance with Article XII of the Indenture by the Fifth Third Parties. 

ARTICLE V 
 APPLICATION
OF TRUST FUNDS; CERTAIN DUTIES 
 SECTION 5.1 Application of Trust Funds. Deposits into the Certificate
Distribution Account shall be made in accordance with the provisions of the Indenture and this Agreement. On each Payment Date, after a Certificate Distribution Account has been established in accordance with the terms of the Indenture, the
Certificate Paying Agent shall withdraw from the Certificate Distribution Account and distribute to the Certificateholders, pro rata based on the Percentage Interest of each Certificateholder, all funds received in accordance with the provisions of
the Indenture and this Agreement. Subject to the lien of the Indenture, the Certificate Paying Agent shall promptly distribute to the Certificateholders all other amounts (if any) received by the Certificate Paying Agent on behalf of the Issuer in
respect of the Trust Estate (pro rata based on the Percentage Interest of each such Certificateholder). After the termination of the Indenture in accordance with its terms, the Certificate Paying Agent shall distribute all amounts received (if any)
by the Owner Trustee on behalf of the Issuer in respect of the Trust Estate in accordance with the provisions of this Agreement. If any withholding tax is imposed on any Issuer payment to, or is imposed on any allocable Issuer income of, a
Certificateholder, such tax shall reduce the amount otherwise distributable to the Certificateholder in accordance with this Section 5.1; provided, that, the Owner Trustee shall not have an obligation
to withhold any such amount if and for so long as the Depositor is the sole Certificateholder. The Owner Trustee will withhold from amounts otherwise allocable or distributable to the Certificateholders sufficient funds for the payment of any tax
that is legally owed by the Issuer (but such authorization shall not prevent the Owner Trustee from contesting any such tax in appropriate proceedings and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings)
upon the written direction of the Depositor. The amount of any withholding tax imposed with respect to a Certificateholder shall be treated as cash distributed to such Certificateholder at the time it is withheld by the Issuer and remitted to the
appropriate taxing authority. If there is a possibility that withholding tax is payable with 

  

					
		 	14	 	

 
respect to a distribution or income allocation, the Owner Trustee may in its sole discretion withhold such amounts in accordance with this Section 5.1. If a
Certificateholder wishes to apply for a refund of any such withholding tax, the Owner Trustee shall reasonably cooperate with such Certificateholder in making such claim so long as such Certificateholder agrees to reimburse the Owner Trustee for any
out-of-pocket expenses incurred. 
 SECTION
5.2 Sarbanes-Oxley Act. Notwithstanding anything to the contrary herein or in any Transaction Document, the Owner Trustee shall not be required to execute, deliver or certify in accordance with the provisions of the Sarbanes-Oxley Act on
behalf of the Issuer or any other Person, any periodic reports filed pursuant to the Exchange Act, or any other documents pursuant to the Sarbanes-Oxley Act. 

SECTION 5.3 Signature on Returns; Tax Matters Partner; Partnership Representative. (a) The Administrator shall prepare
(or cause to be prepared) and shall sign, on behalf of the Issuer, the Issuer’s tax returns, if any, unless applicable law requires a Certificateholder to sign such documents. In the event that the Issuer is required to be treated as a
partnership for United States federal income tax purposes, the Certificateholder that is a United States Tax Person holding the largest Certificate Percentage Interest shall be designated the “tax matters partner” of the Issuer pursuant to
Code section 6231(a)(7)(A) of the Code and shall sign the tax return of the Issuer. In the event that two or more Certificateholders would be described in the preceding sentence then Certificateholder with the alphabetically first name shall be so
designated. 
 (b)    In the event that the Issuer is classified as a partnership for
federal income tax purposes, as of taxable year beginning after December 31, 2017, or if later, the date that Sections 6221 through 6241 of the Code (as amended by the Bipartisan Budget Act of 2015, P.L.
No. 114-74) apply to the Issuer, the Certificateholder that is a United States Tax Person holding the largest Certificate Percentage Interest (or if such Certificateholder is ineligible, an Affiliate of
such Certificateholder that is a United States Tax Person) is hereby designated as the partnership representative under Section 6223(a) of the Code (as amended by the Bipartisan Budget Act of 2015, P.L.
No. 114-74) unless it designates another person, and the Issuer (or Depositor or Administrator on its behalf) shall take any action necessary to effect such designation (including working with the
Depositor to designate any designated individual required under the law). The Issuer shall or the Depositor or the Administrator shall cause the Issuer to, to the extent eligible, make the election under Section 6221(b) of the Code (as amended
by the Bipartisan Budget Act of 2015, P.L. No. 114-74) with respect to determinations of adjustments at the partnership level and take any other action such as disclosures and notifications necessary to
effectuate such election. If the election described in the preceding sentence is not available, to the extent applicable, the Issuer shall or the Depositor or the Administrator shall cause the Issuer to make the election under Section 6226(a)
of the Code (as amended by the Bipartisan Budget Act of 2015, P.L. No. 114-74) with respect to the alternative to payment of imputed underpayment by partnership and take any other action such as filings,
disclosures and notifications necessary to effectuate such election. Notwithstanding the foregoing, each of the Issuer, Depositor and Administrator is authorized, in its 

  

					
		 	15	 	

 
sole discretion, to make any available election related to Sections 6221 through 6241 of the Code (as amended by the Bipartisan Budget Act of 2015, P.L.
No. 114-74) and take any action necessary for the Issuer to comply with Sections 6221 through 6241 of the Code (as amended by the Bipartisan Budget Act of 2015, P.L.
No. 114-74). 
 SECTION 5.4 Accounting and Reports to
Certificateholders, the Internal Revenue Service and Others. The Owner Trustee shall (a) maintain (or cause to be maintained) the books of the Issuer on a calendar year basis and the accrual method of accounting, (b) deliver (or cause
to be delivered) to each Certificateholder, as may be required by the Code and applicable Treasury Regulations, such information as may be required (including, if applicable, Schedule K-1) to enable each
Certificateholder to prepare its federal and state income tax returns and (c) collect or cause to be collected any withholding tax as described in and in accordance with Section 5.1 with respect to income or
distributions to Certificateholders. 
 SECTION 5.5 Method of Payment. Subject to the Indenture, distributions
required to be made to a Certificateholder on any Payment Date and all amounts received by the Issuer or the Owner Trustee on any other date that are payable to a Certificateholder pursuant to this Agreement or any other Transaction Document shall
be made to such Certificateholder by wire transfer, in immediately available funds, to the account of such Certificateholder designated by such Certificateholder to the Owner Trustee in writing. 

SECTION 5.6 Certificate Distribution Account. A Certificate Distribution Account shall be established pursuant
to and solely to the extent required by Section 8.2 of the Indenture. The Certificateholders shall possess all right, title and interest in and to all funds on deposit from time to time in such Certificate Distribution
Account and all proceeds thereof. Except as otherwise provided herein or in the Indenture, such Certificate Distribution Account shall be under the sole dominion and control of the Certificate Paying Agent for the benefit of the Certificateholders.
If, at any time, such Certificate Distribution Account ceases to be an Eligible Account, the Owner Trustee (or the Servicer on behalf of the Owner Trustee, if such Certificate Distribution Account is not then held by the Owner Trustee or an
Affiliate thereof) shall within ten (10) Business Days establish a new Certificate Distribution Account as an Eligible Account and shall transfer any cash then on deposit in the Certificate Distribution Account to such new Certificate
Distribution Account. Funds in the Certificate Distribution Account shall remain uninvested. 
 SECTION 5.7 FATCA.
The Depositor and each Certificateholder or holder of an interest in a Certificate covenants with the Owner Trustee and the Certificate Paying Agent that it will provide the Owner Trustee and the Certificate Paying Agent with sufficient information
so as to enable the Owner Trustee and the Certificate Paying Agent to determine whether or not each of the Owner Trustee and the Certificate Paying Agent, respectively, is obliged, in respect of any payments to be made by it pursuant to this Trust
Agreement, to make any withholding or deduction pursuant to an agreement described in Section 1471(b) of the Code or otherwise imposed pursuant to Sections 1471 through 1474 of the Code and any regulations, or agreements thereunder or official
interpretations thereof or any intergovernmental agreement between the United States and another jurisdiction facilitating the implementation thereof (or any law implementing such an intergovernmental agreement). The Owner Trustee and the
Certificate 

  

					
		 	16	 	

 
Paying Agent shall be entitled to deduct FATCA Withholding Tax and shall have no obligation to gross-up any payment hereunder or to pay any additional
amount as a result of such FATCA Withholding Tax. 
 ARTICLE VI 

AUTHORITY AND DUTIES OF OWNER TRUSTEE 

SECTION 6.1 General Authority. The Owner Trustee is authorized and directed to execute and deliver the Transaction
Documents to which the Issuer is named as a party, and each certificate or other document attached as an exhibit to or contemplated by the Transaction Documents to which the Issuer or the Owner Trustee is named as a party and any amendment thereto,
in each case, in such form as the Depositor shall approve, as evidenced conclusively by the Owner Trustee’s execution thereof, and at the written direction of the Depositor, to execute on behalf of the Issuer and to direct the Indenture Trustee
to authenticate and deliver Class A-1 Notes in the aggregate principal amount of $221,415,000, Class A-2-A Notes in the
aggregate principal amount of $225,000,000, Class A-2-B Notes in the aggregate principal amount of $79,000,000,
Class A-3 Notes in the aggregate principal amount of $390,000,000 and Class A-4 Notes in the aggregate principal amount of $95,480,000. In addition to the
foregoing, the Owner Trustee is authorized, but shall not be obligated, to take all actions required of the Issuer pursuant to the Transaction Documents. The Owner Trustee is further authorized from time to time to take such action as the Depositor,
the Administrator or a Majority of the Certificateholders recommends or directs in writing with respect to the Transaction Documents, except to the extent that this Agreement expressly requires the consent of each Certificateholder for such action.

 SECTION 6.2 General Duties. It shall be the duty of the Owner Trustee to discharge (or cause to be discharged) all
of its responsibilities pursuant to the terms of this Agreement and the other Transaction Documents and to administer the Issuer in the interest of the Certificateholders, subject to Transaction Documents, and in accordance with the provisions of
this Agreement. Notwithstanding the foregoing, the Owner Trustee shall be deemed to have discharged its duties and responsibilities hereunder and under the Transaction Documents to the extent the Administrator has agreed in the Administration
Agreement to perform any act or to discharge any duty of the Issuer or the Owner Trustee hereunder or under any Transaction Document, and the Owner Trustee shall not be liable for the default or failure of the Administrator to carry out its
obligations under the Administration Agreement and shall have no duty to monitor the performance of the Administrator or any other Person under the Administration Agreement or any other document. The Owner Trustee shall have no obligation to
administer, service or collect the Receivables or to maintain, monitor or otherwise supervise the administration, servicing or collection of the Receivables. For the avoidance of doubt, the Owner Trustee shall not be required to perform any of the
obligations of the Issuer under any Transaction Document that are required to be performed by the Bank, the Seller, the Servicer, the Depositor, the Administrator or the Indenture Trustee. 

SECTION 6.3 Action upon Instruction. (a) Subject to Article IV, and in accordance with the Transaction
Documents, the Certificateholders may, by written instruction, direct the Owner 

  

					
		 	17	 	

 
Trustee in the management of the Issuer. Such direction may be exercised at any time by written instruction of the Certificateholders pursuant to Article IV. 

(b)    Subject to Section 7.1, the Owner Trustee shall not be
required to take any action hereunder or under any Transaction Document if the Owner Trustee shall have reasonably determined or been advised by counsel that such action is likely to result in liability on the part of the Owner Trustee or is
contrary to the terms hereof or of any Transaction Document or is otherwise contrary to law. 

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

(d)    The Owner Trustee shall be under no obligation to exercise any of the rights or
powers vested in it by this Agreement, or to institute, conduct or defend any litigation, at the request, order or direction of any Certificateholder or any other Person, unless such Certificateholder or such Person has offered to the Owner Trustee
security or indemnity satisfactory to it against the costs, expenses and liabilities that may be incurred by the Owner Trustee (including, without limitation, the reasonable fees and expenses of its counsel) therein or thereby, including such
advances as the Owner Trustee shall reasonably request. 
 (e)    The Owner Trustee
shall not be personally liable for any distribution made in accordance with the provisions set forth in Section 9.1(a). 

  

					
		 	18	 	

 SECTION 6.4 No Duties Except as Specified in this Agreement or in
Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Trust Estate, or to otherwise take or refrain from taking any
action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner
Trustee pursuant to Section 6.3; and no implied duties or obligations shall be read into this Agreement or any Transaction Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any
financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or Lien granted to it hereunder or to prepare or file any Commission filing (including any filings
required under the Sarbanes-Oxley Act) for the Issuer or to record this Agreement or any Transaction Document. The Bank of New York Mellon nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to
discharge any Liens on any part of the Trust Estate that result from actions by, or claims against, The Bank of New York Mellon that are not related to the ownership or the administration of the Trust Estate. The Owner Trustee shall have no
responsibility or liability for or with respect to the genuineness, value, sufficiency or validity of the Trust Estate. 

SECTION 6.5 No Action Except under Specified Documents or Instructions. The Owner Trustee shall not manage, control,
use, sell, dispose of or otherwise deal with any part of the Trust Estate except (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement, (ii) in accordance with the
Transaction Documents and (iii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 6.3. 

SECTION 6.6 Restrictions. The Owner Trustee shall not take any action (a) that is inconsistent with the purposes
of the Issuer set forth in Section 2.3 or (b) that, to the actual knowledge of a Responsible Officer of the Owner Trustee, would for United States federal income, state and local income and franchise tax purposes,
(i) affect the treatment of the Notes as indebtedness, (ii) be deemed to cause a taxable exchange of the Notes or (iii) cause the Issuer or any portion thereof to be treated as an association or publicly traded partnership taxable as
a corporation for United States federal income, state and local income or franchise and value added tax purposes. No Certificateholder shall direct the Owner Trustee to take action that would violate the provisions of this
Section 6.6 or applicable law (and in the event any such direction is given by the Certificateholders to the Owner Trustee, the Owner Trustee shall not be obligated to follow such direction). 

SECTION 6.7 Relevant Trustee. Following the payment in full of principal and interest on the Notes, the Owner
Trustee shall assume the role of Relevant Trustee for all purposes under the Transaction Documents and shall perform the obligations of the Relevant Trustee under the Indenture. In furtherance of the foregoing, Article 7, Article
8 and Article 12 of the Indenture are hereby incorporated by reference into this Agreement. 
 SECTION 6.8
Reporting. Upon receipt by the Owner Trustee from the Depositor of any reports or general loan data, the Owner Trustee will forward such reports in the form received to 

  

					
		 	19	 	

 
the Certificateholders; provided, that the Owner Trustee shall not be required to forward any such reports to any Certificateholder who is the Depositor or an Affiliate of
the Depositor. The Owner Trustee shall have no duty or obligations to review, verify or confirm the reports or any information contained therein, and shall have no liability in connection therewith. Delivery of the Servicer Certificate to the Owner
Trustee, as provided for in the Transaction Documents, is for informational purposes only and the Owner Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information
contained therein, including the Issuer’s compliance with any of its covenants hereunder (as to which the Owner Trustee is entitled to rely exclusively on Officer’s Certificates). 

ARTICLE VII 
 CONCERNING
THE OWNER TRUSTEE AND THE DELAWARE TRUSTEE 
 SECTION 7.1 Acceptance of Trusts and Duties. Each of the Owner
Trustee and the Delaware Trustee accepts the trusts hereby created and agrees to perform its duties hereunder with respect to such trusts but only upon the terms of this Agreement. The Owner Trustee also agrees to disburse all moneys actually
received by it constituting part of the Trust Estate upon the terms of the Transaction Documents and this Agreement. Neither the Owner Trustee nor the Delaware Trustee shall be personally liable or accountable hereunder or under any Transaction
Document under any circumstances notwithstanding anything herein or in the Transaction Documents to the contrary, except (i) for its own willful misconduct, bad faith or negligence, (ii) in the case of the inaccuracy of any representation
or warranty contained in Section 7.5 expressly made by The Bank of New York Mellon or BNY Mellon Trust of Delaware, as applicable, in their individual capacities, (iii) for liabilities arising from the failure of The
Bank of New York Mellon to perform obligations expressly undertaken by it in the third sentence of Section 6.4 or (iv) for taxes, fees or other charges on, based on or measured by, any fees, commissions or compensation
received by the Owner Trustee or the Delaware Trustee. In particular, but not by way of limitation (and subject to the exceptions set forth in the preceding sentence) of the foregoing: 

(a)    Neither the Owner Trustee nor the Delaware Trustee shall be personally liable for
any error of judgment made in good faith by any of its officers or employees unless it is proved that such Persons were negligent in ascertaining the pertinent facts; 

(b)    Neither the Owner Trustee nor the Delaware Trustee shall be liable with respect to
any action taken or omitted to be taken in good faith by it in accordance with the instructions of the Depositor, the Administrator or any Certificateholder delivered in accordance with the terms of this Agreement; 

(c)    No provision of this Agreement shall require the Owner Trustee or the Delaware
Trustee to expend or risk its personal funds or otherwise incur any financial liability in the exercise of its rights or powers hereunder; 

  

					
		 	20	 	

 (d)    Under no circumstances shall the
Owner Trustee or the Delaware Trustee be personally liable for any representation, warranty, covenant, obligation or indebtedness of the Issuer; 

(e)    Neither the Owner Trustee nor the Delaware Trustee shall be personally responsible
for or in respect of the validity or sufficiency of this Agreement or for the due execution hereof by any Person other than the Owner Trustee or the Delaware Trustee, as applicable, or for the form, character, genuineness, sufficiency, value or
validity of the Trust Estate, or for or in respect of the accuracy, validity or sufficiency of any statement of any other party in the Transaction Documents, the Certificates or any other document supplied to the Owner Trustee or the Delaware
Trustee; 
 (f)    Neither the Owner Trustee nor the Delaware Trustee shall be deemed
to have knowledge or notice of any event or information, including any Event of Default, or be required to act upon any event or information (including the sending of any notice), unless written notice of such event or information is received by a
Responsible Officer and such notice references the event or information. Absent written notice in accordance with this Section, the Owner Trustee and the Delaware Trustee may assume that no such event has occurred. Neither the Owner Trustee nor the
Delaware Trustee shall have any obligation to inquire into, or investigate as to, the occurrence of any such event (including any Event of Default). For purposes of determining the Owner Trustee’s and the Delaware Trustee’s responsibility
and liability hereunder, whenever reference is made in this Trust Agreement to any event (including, but not limited to, an Event of Default), such reference shall be construed to refer only to such event of which the Owner Trustee or the Delaware
Trustee, as the case may be, has received written notice as described in this Section. Knowledge of the Owner Trustee and the Delaware Trustee shall not be attributed or imputed to The Bank of New York Mellon’s or BNY Mellon Trust of
Delaware’s other roles in the transaction; 
 (g)    Each of the Owner Trustee and
the Delaware Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Trust Agreement and the other Transaction Documents to which it is a party and no implied covenants or obligations shall be read into
this Agreement or the other Transaction Documents against the Owner Trustee or the Delaware Trustee; 

(h)    Neither the Owner Trustee nor the Delaware Trustee shall be under any obligation
to exercise any of the rights or powers vested in it by this Agreement, or to institute, conduct or defend any litigation under this Agreement or otherwise or in relation to this Agreement or any Transaction Document, at the request, order or
direction of any of the Depositor, the Certificateholders or the Administrator, unless the Depositor, such Certificateholders or the Administrator have offered to the Owner Trustee or the Delaware Trustee, as the case may be, reasonable security or
indemnity satisfactory to the Owner Trustee or the Delaware Trustee against the costs, expenses and liabilities that may be incurred 

  

					
		 	21	 	

 
by it therein or thereby. The right of each of the Owner Trustee and the Delaware Trustee to perform any discretionary act enumerated in this Agreement or in any Transaction Document shall not be
construed as a duty, and neither the Owner Trustee nor the Delaware Trustee shall be answerable for other than its gross negligence, bad faith or willful misconduct in the performance of any such act; 

(i)    Anything in this Agreement to the contrary notwithstanding, in no event shall the
Owner Trustee or the Delaware Trustee be liable under or in connection with this Agreement or the Trust for indirect, special, incidental, punitive or consequential losses or damages of any kind whatsoever, including but not limited to lost profits;

 (j)    Neither the Owner Trustee nor the Delaware Trustee shall be required to
investigate any claims with respect to any breach of a representation or warranty under any of the Transaction Documents. For the avoidance of doubt, neither the Owner Trustee nor the Delaware Trustee shall be responsible for evaluating the
qualifications of any mediator or arbitrator, or be personally liable for paying the fees or expenses of any mediation or arbitration initiated by a requesting party; and 

(k)    Neither the Owner Trustee nor the Delaware Trustee shall be responsible or liable
for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, acts of war or terrorism, civil or military disturbances, nuclear
or natural catastrophes or acts of God; it being understood that the Owner Trustee and the Delaware Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance of their respective
obligations as soon as practicable under the circumstances. 
 SECTION 7.2 Preservation of Information; Communications to
Certificateholders. (a) The Owner Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Certificateholders received by the Owner Trustee in its capacity as the Certificate Registrar;
provided, however, that so long as the Owner Trustee is the Certificate Registrar, no list separate from the Certificate Register shall be required to be preserved or maintained. 

(b)    The Certificateholders may communicate with other Certificateholders with respect
to their rights under this Agreement or under the Certificates. Upon receipt by the Owner Trustee of any written request by three or more Certificateholders or by one or more Certificateholders holding in the aggregate more than 25% of the
Percentage Interests to receive a copy of the most current list of Certificateholders together with a copy of the communication that the applicant proposes to send, the Owner Trustee shall distribute such list to the requesting Certificateholders;
provided, that the Owner Trustee may elect not to afford the requesting Certificateholders access to the list of Certificateholders if it 

  

					
		 	22	 	

 
agrees to mail the desired communication or proxy, on behalf of and at the expense of the requesting Certificateholders, to all Certificateholders. Each Certificateholder, by receiving and
holding a Certificate, shall be deemed to have agreed not to hold the Owner Trustee accountable by reason of the disclosure of its name and address, regardless of the source from which such information was derived. 

SECTION 7.3 Statements to Certificateholders. 

(a)    Upon receipt of written notice from the Indenture Trustee pursuant to
Section 7.4 of the Indenture of any change in the Indenture Trustee’s website pursuant to which the Relevant Trustee shall make available the Servicer’s Certificate, the Owner Trustee shall promptly give notice to
each Certificateholder of such change. 
 (b)    To the extent the Owner Trustee has
assumed the role of Relevant Trustee pursuant to the terms of Section 6.7, the Owner Trustee may make all reports or notices required to be provided by the Owner Trustee under Section 7.4 of the
Indenture; provided, however, that the Owner Trustee shall, if requested by the Administrator, deliver any such reports or notices in writing to the Administrator. Any information that is disseminated in accordance with the provisions
of this Section 7.3 shall not be required to be disseminated in any other form or manner. The Owner Trustee will make no representations or warranties as to the accuracy or completeness of such documents and will assume no
responsibility therefor. 
 (c)    The Owner Trustee’s website shall be initially
located at https://gctinvestorreporting.bnymellon.com or at such other address as shall be specified by the Owner Trustee from time to time in writing to the Certificateholders, the Servicer, the Issuer or any Paying Agent. In connection with
providing access to the Owner Trustee’s website, the Owner Trustee may require registration and the acceptance of a disclaimer. The Owner Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The
Owner Trustee shall notify Certificateholders in writing of any changes in the address or means of access to the website where the reports are accessible. Assistance in access to the website can be obtained by calling the Owner Trustee’s
customer service desk at (800) 332-4550. 
 SECTION 7.4 Notice of Events
of Default. The Owner Trustee shall promptly give notice to each Certificateholder of any (a) Default or Event of Default of which it has been provided notice pursuant to Section 6.5 of the Indenture and
(b) Servicer Replacement Event of which it has been provided notice pursuant to Section 6.1 of the Servicing Agreement. 

SECTION 7.5 Representations and Warranties. (1) The Bank of New York Mellon hereby represents and warrants to the
Depositor for the benefit of the Certificateholders, that: 

  

					
		 	23	 	

 (a)    It is a New York banking corporation
duly incorporated and validly existing in good standing under the laws of New York and having an office within the State of New York. It has all requisite corporate power and authority to execute, deliver and perform its obligations under this
Agreement. 
 (b)    It has taken all corporate action necessary to authorize the
execution and delivery by it of this Agreement, and this Agreement will be executed and delivered by one of its officers who is duly authorized to execute and deliver this Agreement on its behalf. 

(c)    This Agreement constitutes a legal, valid and binding obligation of the Owner
Trustee, enforceable against the Owner Trustee in accordance with its terms, subject, as to enforceability, to applicable bankruptcy, insolvency, reorganization, conservatorship, receivership, liquidation and other similar laws affecting enforcement
of the rights of creditors of banks generally and to equitable limitations on the availability of specific remedies. 

(d)    Neither the execution nor the delivery by it of this Agreement, nor the
consummation by it of the transactions contemplated hereby nor compliance by it with any of the terms or provisions hereof will contravene any federal or Delaware law, governmental rule or regulation governing the banking or trust powers of the
Owner Trustee or any judgment or order binding on it, or constitute any default under its charter documents or by-laws. 

(2) BNY Mellon Trust of Delaware hereby represents and warrants to the Depositor for the benefit of the Certificateholders,
that: 
 (a)    It is a Delaware banking corporation duly organized and validly
existing under the laws of the State of Delaware. It has all requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement. 

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

(c)    This Agreement constitutes a legal, valid and binding obligation of the Delaware
Trustee, enforceable against the Delaware Trustee in accordance with its terms, subject, as to enforceability, to applicable bankruptcy, insolvency, reorganization, conservatorship, receivership, liquidation and other similar laws affecting
enforcement of the rights of creditors of banks generally and to equitable limitations on the availability of specific remedies. 

(d)    Neither the execution nor the delivery by it of this Agreement, nor the
consummation by it of the transactions contemplated hereby nor compliance by it with any of the terms or provisions hereof will contravene any federal or 

  

					
		 	24	 	

 
Delaware law, governmental rule or regulation governing the banking or trust powers of the Delaware Trustee or any judgment or order binding on it, or constitute any default under its charter
documents or by-laws. 
 SECTION 7.6 Reliance; Advice of Counsel. 

(a)    Neither the Owner Trustee nor the Delaware Trustee shall incur any personal
liability to anyone in acting upon any signature, instrument, notice, resolution, request, consent, order, certificate, report, opinion, bond or other document or paper believed by it to be genuine and believed by it to be signed by the proper party
or parties. Each of the Owner Trustee and the Delaware Trustee may accept a certified copy of a resolution of the board of directors or other governing body of any corporate party as conclusive evidence that such resolution has been duly adopted by
such body and that the same is in full force and effect. As to any fact or matter the method of the determination of which is not specifically prescribed herein, the Owner Trustee and the Delaware Trustee may for all purposes hereof rely on a
certificate, signed by the president or any vice president or by the treasurer, secretary or other Authorized Officers of the relevant party, as to such fact or matter, and such certificate shall constitute full protection to the Owner Trustee and
the Delaware Trustee for any action taken or omitted to be taken by it in good faith in reliance thereon (the costs of which shall be paid by the party requesting such action). Neither the Owner Trustee nor the Delaware Trustee need investigate or re-calculate, evaluate, verify or independently determine the accuracy of any report, certificate, information, statement, representation or warranty or any fact or matter stated in any such document and, in the
absence of bad faith on its part, may conclusively rely thereon as to the truth of the statements and the correctness of the opinions expressed therein. 

(b)    In the exercise or administration of the trusts hereunder and in the performance
of its duties and obligations under this Agreement or the Transaction Documents, the Owner Trustee and the Delaware Trustee (i) may act directly or through its agents or attorneys pursuant to agreements entered into with any of them, but the
Owner Trustee and the Delaware Trustee shall not be personally liable for the conduct or misconduct of such agents, custodians, nominees (including Persons acting under a power of attorney) or attorneys selected with reasonable care and
(ii) may consult with counsel, accountants and other skilled Persons knowledgeable in the relevant area to be selected with reasonable care and employed by it at the expense of the Issuer. The Owner Trustee and the Delaware Trustee shall not be
personally liable for anything done, suffered or omitted in good faith by it in accordance with the written opinion or advice of any such counsel, accountants or other such Persons. 

SECTION 7.7 Not Acting in Individual Capacity. Except as provided in this Article VII, in accepting the trusts
hereby created, each of The Bank of New York Mellon and BNY Mellon Trust of Delaware acts solely as the Owner Trustee and the Delaware Trustee, respectively, 

  

					
		 	25	 	

 
hereunder and not in its individual capacity and all Persons having any claim against the Owner Trustee or the Delaware Trustee by reason of the transactions contemplated by this Agreement or any
Transaction Document shall look only to the Trust Estate for payment or satisfaction thereof. 
 SECTION 7.8 The Owner
Trustee and the Delaware Trustee May Own Notes. Each of the Owner Trustee and the Delaware Trustee, in its individual or any other capacity, may become the owner or pledgee of Notes. Each of the Owner Trustee and the Delaware Trustee may deal
with the Depositor, the Indenture Trustee, the Administrator and their respective Affiliates in banking transactions with the same rights as it would have if it were not the Owner Trustee or the Delaware Trustee, respectively, and the Depositor, the
Indenture Trustee, the Administrator and their respective Affiliates may maintain normal commercial banking relationships with the Owner Trustee, the Delaware Trustee and their Affiliates. 

SECTION 7.9 Rule 144A Information. At any time when the Issuer is not subject to Section 13 or 15(d) of the
Securities Exchange Act and is not exempt from reporting pursuant to Rule 12g3-2(b) under the Securities Exchange Act, upon the request of a Certificateholder, the Depositor shall promptly furnish or cause to
be furnished Rule 144A Information (as defined below) to such Certificateholder, to a prospective purchaser of such Certificate designated by such Certificateholder or to the Owner Trustee for delivery to such Certificateholder or a prospective
purchaser designated by such Certificateholder, as the case may be, in order to permit compliance by such Certificateholder and the Issuer with Rule 144A in connection with the resale of such Certificate by such Certificateholder. “Rule 144A
Information” shall be such information as is specified pursuant to Rule 144A(d)(4) under the Securities Act (or any successor provision thereto). 

SECTION 7.10 Duties of the Delaware Trustee. The Delaware Trustee is appointed to serve as the trustee of the Issuer in
the State of Delaware for the sole purpose of satisfying the requirement of Section 3807(a) Statutory Trust Statute that the Issuer have at least one trustee with a principal place of business in Delaware. It is understood and agreed by the
parties hereto that the Delaware Trustee shall have none of the duties or liabilities of the Owner Trustee. The duties of the Delaware Trustee shall be limited to (a) accepting legal process served on the Issuer in the State of Delaware and
(b) the execution of any certificates required to be filed by the Statutory Trust Statute which the Delaware Trustee is required to execute under Section 3811 of the Statutory Trust Statute. To the extent that, at law or in equity, the
Delaware Trustee has duties (including fiduciary duties) and liabilities relating thereto with respect to the Issuer, the beneficial owners thereof or any other person, it is hereby understood and agreed by the other parties hereto that such duties
and liabilities will be replaced by the duties and liabilities of the Delaware Trustee expressly set forth in this Section 7.10. The Delaware Trustee shall have all the rights, privileges and immunities of the Owner
Trustee. In addition to the foregoing, the Delaware Trustee also hereby agrees to execute and deliver all amendments or supplements to this Agreement, delivered to it for execution pursuant to Section 11.1, if such
amendments or supplements do not materially or adversely affect the rights or duties of the Delaware Trustee. 
 ARTICLE VIII 

  

					
		 	26	 	

 COMPENSATION AND INDEMNIFICATION OF THE OWNER TRUSTEE AND THE DELAWARE TRUSTEE 

SECTION 8.1 The Owner Trustee’s and the Delaware Trustee’s Compensation. The
Depositor shall cause the Servicer to pay to The Bank of New York Mellon and BNY Mellon Trust of Delaware pursuant to Section 3.12 of the Servicing Agreement from time to time compensation for all services rendered by the
Owner Trustee, the Certificate Paying Agent and the Delaware Trustee, as the case may be, under this Agreement pursuant to (i) a fee letter among the Servicer, the Owner Trustee and the Certificate Paying Agent and (ii) a fee letter
between the Servicer and the Delaware Trustee (which compensation, in each case, shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); provided, however, that such fee letter with
respect to the Owner Trustee may be amended from time to time after the date hereof to provide for the Owner Trustee’s role as Computation Agent and as agreed to by the Servicer and the Owner Trustee. The Servicer, pursuant to
Section 3.12 of the Servicing Agreement and the fee letters described in the preceding sentence, shall reimburse the Owner Trustee, the Certificate Paying Agent and the Delaware Trustee upon their request for all reasonable
expenses, disbursements and advances incurred or made by the Owner Trustee, the Certificate Paying Agent and the Delaware Trustee, as applicable, in accordance with any provision of this Agreement (including the reasonable compensation, expenses and
disbursements of such agents, experts and counsel as the Owner Trustee, the Certificate Paying Agent and the Delaware Trustee may employ in connection with the exercise and performance of their rights and its duties hereunder), except any such
expense as may be attributable to their willful misconduct, negligence (other than an error in judgment) or bad faith. To the extent not paid by the Servicer, such fees and reasonable expenses shall be paid in accordance with Sections 8.5 or
5.4(b) of the Indenture, as applicable. 
 SECTION 8.2 Indemnification. The Depositor shall cause the Servicer
to agree to indemnify the Owner Trustee, the Delaware Trustee and the Certificate Paying Agent, each in its individual capacity and as trustee and its successors, assigns, directors, officers, employees and agents (the “Indemnified
Parties”) from and against, any and all loss, liability, fee, expense, tax, penalty, action, suit, cost or claim (including reasonable legal fees and expenses (including any legal fees or expenses incurred in connection with any action or
suit brought by an Indemnified Party to enforce any indemnification or other obligation of the Servicer)) of any kind and nature whatsoever which may at any time be imposed on, incurred by, or asserted against The Bank of New York Mellon and BNY
Mellon Trust of Delaware, each in its individual capacity and as trustee or any Indemnified Party in any way relating to or arising out of this Agreement, the Transaction Documents, the Trust Estate, the administration of the Trust Estate or the
action or inaction of The Bank of New York Mellon or BNY Mellon Trust of Delaware hereunder; provided, however, that neither the Depositor nor the Servicer shall be liable for or required to indemnify The Bank of New York Mellon or BNY
Mellon Trust of Delaware from and against any of the foregoing expenses arising or resulting from (i) The Bank of New York Mellon’s or BNY Mellon Trust of Delaware’s own willful misconduct, bad faith or negligence, (ii) the
inaccuracy of any representation or warranty expressly made by The Bank of New York Mellon or BNY Mellon Trust of Delaware in their individual capacities or any representation or warranty made by The Bank of New York Mellon in accordance with
Section 11.13 or Section 11.14, (iii) liabilities arising from the failure of The Bank of New York Mellon to perform 

  

					
		 	27	 	

 
obligations expressly undertaken by it in the third sentence of Section 6.4 or (iv) taxes, fees or other charges on, based on or measured by, any fees, commissions
or compensation received by the Owner Trustee or the Delaware Trustee. To the extent not paid by the Servicer, such indemnification shall be paid in accordance with Sections 8.5 or 5.4(b) of the Indenture, as applicable. The
obligations under this Section 8.2 shall survive the resignation or removal of the Owner Trustee and the Delaware Trustee, or the termination or assignment of this Agreement or any of the other Transaction Documents. 

SECTION 8.3 Payments to the Owner Trustee and to the Delaware Trustee. Any amounts paid to the Owner Trustee and to the
Delaware Trustee pursuant to this Article VIII and Section 8.2(c) of the Indenture shall be deemed not to be a part of the Trust Estate immediately after such payment. 

SECTION 8.4 Rights, Protections, Immunities and Indemnities of the Certificate Paying Agent Relevant Trustee and Paying
Agent. The rights, protections, immunities and indemnities of the Owner Trustee under this Agreement are hereby extended to the Certificate Paying Agent, the Owner Trustee as Relevant Trustee, and the Certificate Paying Agent as Paying Agent
under all of the Transaction Documents. 
 ARTICLE IX 

TERMINATION OF TRUST AGREEMENT 

SECTION 9.1 Termination of Trust Agreement. 

(a)     The Issuer shall wind up, dissolve and terminate and this Agreement (other than
provisions hereof which by their terms survive termination) shall terminate upon the final distribution by the Certificate Paying Agent of all moneys or other property or proceeds of the Trust Estate in accordance with the terms of the Indenture,
the Servicing Agreement and Article V of this Agreement. The bankruptcy, liquidation, dissolution, death or incapacity of any Certificateholder shall not (x) operate to terminate this Agreement or the Issuer, nor (y) entitle
any such Certificateholder’s legal representatives or heirs to claim an accounting or to take any Proceeding in any court for a partition or winding up of all or any part of the Issuer or Trust Estate nor (z) otherwise affect the rights,
obligations and liabilities of the parties hereto. 
 (b)    Notice of any dissolution
and termination of the Issuer, specifying the Payment Date upon which Certificateholders shall surrender their Certificates to the Owner Trustee for payment of the final distribution and cancellation, shall be given by the Owner Trustee to
Certificateholders, and if the Owner Trustee is notified of a redemption of the Notes by the Administrator or the Issuer pursuant to Section 10.1(c) of the Indenture, such notice shall be mailed within five
(5) Business Days of the Owner Trustee’s receipt of such notice from the Issuer or Administrator. Each such notice to a Certificateholder shall state (i) the Payment Date upon or with respect to which final payment of the Certificates
shall be made 

  

					
		 	28	 	

 
upon presentation and surrender of the Certificates at the office of the Owner Trustee therein designated, (ii) the amount of any such final payment and (iii) that the Record Date
otherwise applicable to such Payment Date is not applicable and that payments are being made only upon presentation and surrender of the Certificates at the office of the Owner Trustee therein specified. The Owner Trustee shall give such notice to
the Certificate Registrar (if other than the Owner Trustee) and the Certificate Paying Agent at the time such notice is given to Certificateholders. Upon presentation and surrender of each Certificate, the Certificate Paying Agent shall cause to be
distributed to such Certificateholders, subject to Section 3808 of the Statutory Trust Statute, amounts distributable on such Payment Date pursuant to Article V. 

(c)    In the event that any of the Certificateholders shall not surrender their
Certificates for cancellation within six months after the date specified in the above mentioned written notice, the Owner Trustee shall give a second written notice to the remaining Certificateholders to surrender their Certificates for cancellation
and receive the final distribution with respect thereto. If within one year after the second notice any of the Certificates shall not have been surrendered for cancellation, the Owner Trustee may take appropriate steps, or may appoint an agent to
take appropriate steps, to contact the remaining Certificateholders concerning surrender of their Certificates and the cost thereof shall be paid out of the funds and other assets that shall remain subject to this Agreement. Subject to applicable
escheat laws, any funds remaining in the Trust Estate after exhaustion of such remedies shall be distributed by the Certificate Paying Agent to the last Certificateholder of record identified in the Certificate Register for each such remaining
Certificate. 
 SECTION 9.2 Dissolution of the Issuer. Upon dissolution of the Issuer, the Administrator shall wind
up the business and affairs of the Issuer as required by Section 3808 of the Statutory Trust Statute. Upon the satisfaction and discharge of the Indenture, and receipt of a certificate from the Indenture Trustee stating that all Noteholders
have been paid in full and that the Indenture Trustee is aware of no claims remaining against the Issuer in respect of the Indenture and the Notes, the Administrator, in the absence of actual knowledge of any other claim against the Issuer, shall be
deemed to have made reasonable provision to pay all claims and obligations (including conditional, contingent or unmatured obligations) for purposes of Section 3808(e) of the Statutory Trust Act. At the direction of the Administrator, the Owner
Trustee shall (i), upon surrender of the outstanding Certificates or as otherwise provided in Section 9.1(c), cause the Certificate Paying Agent to distribute the remaining Trust Estate (if any) in accordance with
Section 9.1 hereof, and (ii) cause the Certificate of Trust to be cancelled by executing and filing, at the expense of the Depositor, a certificate of cancellation with the Delaware Secretary of State in accordance
with the provisions of Section 3810 of the Statutory Trust Statute, at which time the Issuer shall terminate and this Agreement (other than Article VIII) shall be of no further force or effect. 

SECTION 9.3 Limitations on Termination. Except as provided in Section 9.1, neither the
Depositor nor any Certificateholder shall be entitled to revoke or terminate the Issuer. 

  

					
		 	29	 	

 ARTICLE X 

SUCCESSOR OWNER TRUSTEES AND ADDITIONAL 

OWNER TRUSTEES 

SECTION 10.1 Eligibility Requirements for the Owner Trustee and the Delaware Trustee. The Owner Trustee shall at all
times be a bank (i) authorized to exercise corporate trust powers, (ii) having a combined capital and surplus of at least $50,000,000 and (iii) subject to supervision or examination by Federal or state authorities. If such bank shall
publish reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this Section, the combined capital and surplus of such corporation shall be deemed to
be its combined capital and surplus as set forth in its most recent report of condition so published. The Delaware Trustee shall at all times be an institution satisfying the provisions of Section 3807(a) of the Statutory Trust Statute. In case
at any time the Owner Trustee or the Delaware Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee or the Delaware Trustee, as applicable, shall resign immediately in the manner and with the effect
specified in Section 10.2. 
 SECTION 10.2 Resignation or Removal of the Owner Trustee and the
Delaware Trustee. Each of the Owner Trustee and the Delaware Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor, the Administrator, the Servicer, the Indenture
Trustee and each Certificateholder. Upon receiving such notice of resignation, the Depositor and the Administrator, acting jointly, shall promptly appoint a successor Owner Trustee or Delaware Trustee, as applicable, which satisfies the eligibility
requirements set forth in Section 10.1 by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Owner Trustee or Delaware Trustee, as applicable, and one copy to such successor
Owner Trustee or Delaware Trustee, as applicable. If no successor Owner Trustee or Delaware Trustee, as applicable, shall have been so appointed and have accepted appointment within thirty (30) days after the giving of such notice of
resignation, the resigning Owner Trustee or Delaware Trustee, as applicable, may (at the expense of the Depositor (including without limitation reasonable attorney’s fees and expenses)) petition any court of competent jurisdiction for the
appointment of a successor Owner Trustee or Delaware Trustee, as applicable; provided, however, that such right to appoint or to petition for the appointment of any such successor shall in no event relieve the resigning Owner Trustee
or Delaware Trustee, as applicable, from any obligations otherwise imposed on it under the Transaction Documents until such successor has in fact assumed such appointment. 

If at any time the Owner Trustee or Delaware Trustee, as applicable, shall cease to be eligible in accordance with the
provisions of Section 10.1 and shall fail to resign after written request therefor by the Depositor or the Administrator, or if at any time the Owner Trustee or Delaware Trustee, as applicable, shall be legally unable to
act, or shall be adjudged bankrupt or insolvent, or a receiver of the Owner Trustee or Delaware Trustee, as applicable, or of its property shall be appointed, or any public officer shall take charge or control of the Owner Trustee or Delaware
Trustee or of either of their property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Administrator may remove such Owner Trustee or Delaware Trustee, as applicable. If the Depositor or the
Administrator 

  

					
		 	30	 	

 
shall remove the Owner Trustee or Delaware Trustee, as applicable, under the authority of the immediately preceding sentence, the Depositor and the Administrator, acting jointly, shall promptly
appoint a successor Owner Trustee or Delaware Trustee, as applicable, by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Owner Trustee or Delaware Trustee, as applicable, so removed and one copy to
the successor Owner Trustee or Delaware Trustee, as applicable, and shall pay all fees owed to the outgoing Owner Trustee or Delaware Trustee, as applicable. 

Any resignation or removal of the Owner Trustee or Delaware Trustee, as applicable, and appointment of a successor Owner
Trustee or Delaware Trustee, as applicable, pursuant to any of the provisions of this Section shall not become effective until acceptance of appointment by the successor Owner Trustee or Delaware Trustee, as applicable, pursuant to
Section 10.3 and payment of all fees and expenses owed to the outgoing Owner Trustee or Delaware Trustee, as applicable. The Depositor shall provide (or shall cause to be provided) notice of such resignation or removal of
the Owner Trustee or Delaware Trustee, as applicable, to each of the Rating Agencies. 
 SECTION 10.3 Successor Owner
Trustee or Delaware Trustee. Any successor Owner Trustee or Delaware Trustee, as applicable, appointed pursuant to Section 10.2 shall execute, acknowledge and deliver to the Depositor, the Administrator and to its
predecessor Owner Trustee or Delaware Trustee, as applicable, an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee or Delaware Trustee, as applicable, shall become
effective and such successor Owner Trustee or Delaware Trustee, as applicable, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with
like effect as if originally named as the Owner Trustee or Delaware Trustee, as applicable. The predecessor Owner Trustee or Delaware Trustee, as applicable, shall upon payment of its fees and expenses deliver to the successor Owner Trustee or
Delaware Trustee, as applicable, all documents and statements and monies held by it under this Agreement; and the Depositor and the predecessor Owner Trustee or Delaware Trustee, as applicable, shall execute and deliver such instruments and do such
other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee or Delaware Trustee, as applicable, all such rights, powers, duties and obligations. 

No successor Owner Trustee or Delaware Trustee, as applicable, shall accept appointment as provided in this Section unless at
the time of such acceptance such successor Owner Trustee or Delaware Trustee, as applicable, shall be eligible pursuant to Section 10.1. 

Upon acceptance of appointment by a successor Owner Trustee or Delaware Trustee, as applicable, pursuant to this Section, the
Depositor shall mail (or shall cause to be mailed) notice of the successor of such Owner Trustee or Delaware Trustee, as applicable, to each Certificateholder, Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Depositor
shall fail to mail (or cause to be mailed) such notice within ten (10) days after acceptance of appointment by the successor Owner Trustee or Delaware Trustee, as applicable, the successor Owner Trustee or Delaware Trustee, as applicable, shall
cause such notice to be mailed at the expense of the Depositor. Any successor Delaware Trustee appointed pursuant to 

  

					
		 	31	 	

 
Section 10.2 shall promptly file an amendment to the Certificate of Trust with the Secretary of State identifying the name and the principal place of business of such
successor Delaware Trustee in the State of Delaware. 
 SECTION 10.4 Merger or Consolidation of the Owner Trustee or the
Delaware Trustee. Any Person into which the Owner Trustee or Delaware Trustee, as applicable, may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which the
Owner Trustee or Delaware Trustee, as applicable, shall be a party, or any Person succeeding to all or substantially all of the corporate trust business of the Owner Trustee or Delaware Trustee, as applicable, shall, without the execution or filing
of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding, be the successor of the Owner Trustee or Delaware Trustee, as applicable, hereunder; provided, that such Person
shall be eligible pursuant to Section 10.1; and provided, further that the Delaware Trustee shall file an amendment to the Certificate of Trust of the Issuer, if required by applicable law, and mail notice of such
merger or consolidation to the Depositor, the Administrator and all Certificateholders. 
 SECTION 10.5 Appointment of Co-Trustee or Separate Trustee. Notwithstanding any other provisions of this Agreement, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Trust Estate
may at the time be located, the Depositor and the Owner Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons approved by the Owner Trustee to act as
co-trustee, jointly with the Owner Trustee, or separate trustee or separate trustees, of all or any part of the Trust Estate, and to vest in such Person, in such capacity, such title to the Trust Estate, or
any part thereof, and, subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Depositor and the Owner Trustee may consider necessary or desirable. If the Depositor shall not have joined in such
appointment within fifteen (15) days after the receipt by it of a request so to do, the Owner Trustee alone shall have the power to make such appointment. No co-trustee or separate trustee under this
Agreement shall be required to meet the terms of eligibility as a successor trustee pursuant to Section 10.1 and no notice of the appointment of any co-trustee or separate trustee
shall be required pursuant to Section 10.3. 
 Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions: 

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

  

					
		 	32	 	

 (ii)    no trustee under this Agreement
shall be personally liable by reason of any act or omission of any other trustee under this Agreement; and 

(iii)    the Depositor and the Owner Trustee acting jointly may at any time accept the
resignation of or remove any separate trustee or co-trustee. 
 Any notice, request
or other writing given to the Owner Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any
separate trustee or co-trustee shall refer to this Agreement and the conditions of this Article. Each separate trustee and co-trustee, upon its acceptance of the trusts
conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Owner Trustee or separately, as may be provided therein, subject to all the provisions of this Agreement, specifically
including every provision of this Agreement relating to the conduct of, affecting the liability of, or affording protection to, the Owner Trustee. Each such instrument shall be filed with the Owner Trustee and copies thereof given to the Depositor
and the Administrator. 
 Any separate trustee or co-trustee may at any time appoint
the Owner Trustee, its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this
Agreement on its behalf and in its name. If any separate trustee or co-trustee shall become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall vest in
and be exercised by the Owner Trustee, to the extent permitted by law, without the appointment of a new or successor trustee. The Owner Trustee shall have no obligation to determine whether a co-trustee or
separate trustee is legally required in any jurisdiction in which any part of the Trust Estate may be located. 
 ARTICLE XI 

MISCELLANEOUS 

SECTION 11.1 Amendments. 

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

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

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

(b)    This Agreement may also be amended from time to time by the parties hereto, with
the consent of the Holders of Notes evidencing not less than a 

  

					
		 	33	 	

 
majority of the Outstanding Note Balance for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner
the rights of the Noteholders or the Certificateholders. It will not be necessary for the Noteholders to approve the particular form of any proposed amendment or consent, but it will be sufficient if the Noteholders approve the substance thereof.
The manner of obtaining such consents (and any other consents of the Noteholders provided for in this Agreement) and of evidencing the authorization of the execution thereof by the Noteholders will be subject to such reasonable requirements as the
Indenture Trustee may prescribe, including the establishment of record dates pursuant to the Note Depository Agreement. 

(c)    Prior to the execution of any amendment pursuant to this
Section 11.1, the Depositor shall provide written notification of the substance of such amendment to each Rating Agency; and promptly after the execution of any such amendment, the Depositor shall furnish a copy of such
amendment to each Rating Agency, the Issuer and the Indenture Trustee; provided, that no amendment pursuant to this Section 11.1 shall be effective which materially and adversely affects the rights, protections or
duties of the Indenture Trustee without the prior written consent of such Person. 

(d)    Prior to the execution of any amendment to this Agreement, the Owner Trustee and
the Delaware Trustee shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and an Officer’s Certificate from the Depositor or the
Administrator stating that all conditions precedent to the execution and delivery of such amendment have been satisfied. Each of the Owner Trustee and the Delaware Trustee, as applicable, may, but shall not be obligated to, enter into any such
amendment which materially and adversely affects the Owner Trustee’s or the Delaware Trustee’s, as applicable, own rights, privileges, duties or immunities under this Agreement. 

(e)    Notwithstanding subsections (a) or (b) of this
Section 11.1, this Agreement may only be amended by the Depositor if (i) the Majority Certificateholders consent to such amendment or (ii) such amendment shall not, as evidenced by an Officer’s Certificate of
the Depositor or an Opinion of Counsel delivered to the Owner Trustee and the Delaware Trustee, materially and adversely affect the interests of the Certificateholders. It will not be necessary for the Certificateholders to approve the particular
form of any proposed amendment or consent, but it will be sufficient if the Certificateholders approve the substance thereof. The manner of obtaining such consents (and any other consents of the Certificateholders provided for in this Agreement) and
of evidencing the authorization of the execution thereof by the Certificateholders will be subject to such reasonable requirements as the Owner Trustee and the Delaware Trustee may prescribe. 

  

					
		 	34	 	

 (f)    Notwithstanding the foregoing, this
Agreement may be amended without the consent of any Holder, Noteholder, Note Owner, the Issuer or any other person to add (as described in Section 3.5(h) hereof) transfer restrictions in Section 3.5 as necessary to prevent any application
of the Treasury Regulations under Section 385 of the Code (including any subsequent or successor provision) that would result in the recharacterization of any of the Notes as equity; provided, however, that any such amendment that
adversely affects the Owner Trustee’s, the Delaware Trustee’s or the Indenture Trustee’s, as applicable, own rights, privileges, indemnities, duties or obligations under this Agreement shall not be effective without the prior written
consent of such affected party. 
 SECTION 11.2 No Legal Title to Trust Estate in Certificateholders. Neither the
Depositor nor any Certificateholder shall have legal title to any part of the Trust Estate. Each Certificateholder shall be entitled to receive distributions with respect to its undivided beneficial interest therein only in accordance with
Articles V and IX. No transfer, by operation of law or otherwise, of any right, title or interest of a Certificateholder to and in its ownership interest in the Trust Estate shall operate to terminate this Agreement or the trusts
hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Trust Estate. 

SECTION 11.3 Limitations on Rights of Others. The provisions of this Agreement are solely for the benefit of the Owner
Trustee, the Delaware Trustee, the Depositor, the Administrator, the Certificateholders and, to the extent expressly provided herein, the Indenture Trustee and the Noteholders, and nothing in this Agreement, whether express or implied, shall be
construed to give to any other Person any legal or equitable right, remedy or claim in the Trust Estate or under or in respect of this Agreement or any covenants, conditions or provisions contained herein. 

SECTION 11.4 Notices. 

(a)    Unless otherwise expressly specified or permitted by the terms hereof, all notices
shall be in writing and shall be delivered or mailed by registered or certified first-class United States mail, postage prepaid, hand delivery, prepaid courier service, or by facsimile or email (if an applicable facsimile number or email
address is provided on Schedule I to the Sale Agreement), and addressed in each case as specified on Schedule I to the Sale Agreement, or at such other address as shall be designated by any of the specified addressees in a written
notice to the other parties hereto. 
 (b)    Any notice required or permitted to be
given to any Certificateholder shall be given by first-class mail, postage prepaid, at the address shown in the Certificate Registrar. Any notice so mailed within the time prescribed in this Agreement shall be conclusively presumed to have been duly
given, whether or not such Certificateholder receives such notice. 
 (c)    The Owner
Trustee hereby agrees to accept and act upon instructions or directions pursuant to this Agreement sent by unsecured email, 

  

					
		 	35	 	

 
pdf, facsimile transmission or other similar unsecured electronic methods, provided, however, that the Owner Trustee shall have received an incumbency certificate listing persons designated to
give such instructions or directions and containing specimen signatures of such designated persons, which such incumbency certificate shall be amended and replaced whenever a person is to be added or deleted from the list. If such party sending such
instruction or direction elects to give the Owner Trustee email or facsimile instructions (or instructions by a similar electronic method) and the Owner Trustee in its discretion elects to act upon such instructions, the Owner Trustee’s
understanding of such instructions shall be deemed controlling. The Owner Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Owner Trustee’s reliance upon and compliance with such instructions
notwithstanding whether such instructions conflict or are inconsistent with a subsequent written instruction. The party sending such instruction or direction agrees to assume all risks arising out of the use of such electronic methods to submit
instructions and directions to the Owner Trustee, including without limitation the risk of the Owner Trustee acting on unauthorized instructions, and the risk of interception and misuse by third parties. 

SECTION 11.5 Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction. 
 SECTION 11.6 Separate Counterparts. This Agreement
may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, regardless of whether delivered in physical or electronic form, but all such counterparts shall together constitute
but one and the same instrument. 
 SECTION 11.7 Successors and Assigns. All covenants and agreements contained
herein shall be binding upon, and inure to the benefit of, each of the Depositor, the Owner Trustee and its successors, the Delaware Trustee and its successors and each Certificateholder and its successors and permitted assigns, all as herein
provided. Any request, notice, direction, consent, waiver or other instrument or action by a Certificateholder shall bind the successors and assigns of such Certificateholder. 

SECTION 11.8 No Petition. 

(a)    To the fullest extent permitted by applicable law, each of the Owner Trustee (in
its individual capacity and as the Owner Trustee, by entering into this Agreement), the Delaware Trustee (in its individual capacity and as the Delaware Trustee, by entering into this Agreement), the Depositor, each Certificateholder, by accepting a
Certificate, and the Indenture Trustee and each Noteholder or Note Owner by accepting the benefits of this Agreement, hereby covenants and agrees that prior to the date which is one year and one day after

  

					
		 	36	 	

 
payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by the Bankruptcy Remote Parties (i) such party shall not authorize any Bankruptcy
Remote Party to commence a voluntary winding-up or other voluntary case or other Proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under
any bankruptcy, insolvency or other similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy
Remote Party or any substantial part of its property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other Proceeding commenced against such Bankruptcy Remote Party, or to
make a general assignment for the benefit of, its creditors generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence, join or institute against, with any other Person, any
Proceeding against such Bankruptcy Remote Party under any bankruptcy, reorganization, arrangement, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction; provided, that the foregoing shall in no way limit the
rights of such parties to pursue any other creditor rights or remedies that such Persons may have against the Issuer under applicable law. Without limiting the foregoing, in no event shall the Owner Trustee authorize, institute or join in any
bankruptcy or similar Proceeding described in the preceding sentence other than in accordance with Section 4.3. 

(b)    The Depositor’s obligations under this Agreement are obligations solely of
the Depositor and will not constitute a claim against the Depositor to the extent that the Depositor does not have funds sufficient to make payment of such obligations. In furtherance of and not in derogation of the foregoing, each of the Owner
Trustee (in its individual capacity and as the Owner Trustee), by entering into or accepting this Agreement, the Delaware Trustee (in its individual capacity and as the Delaware Trustee), by entering into or accepting this Agreement, each
Certificateholder, by accepting a Certificate, and the Indenture Trustee and each Noteholder or Note Owner, by accepting the benefits of this Agreement, hereby acknowledges and agrees that such Person has no right, title or interest in or to the
Other Assets of the Depositor. To the extent that, notwithstanding the agreements and provisions contained in the preceding sentence, each of the Owner Trustee, the Delaware Trustee, the Indenture Trustee, each Noteholder or Note Owner and each
Certificateholder either (i) asserts an interest or claim to, or benefit from, Other Assets, or (ii) is deemed to have any such interest, claim to, or benefit in or from Other Assets, whether by operation of law, legal process, pursuant to
applicable provisions of insolvency laws or otherwise (including by virtue of Section 1111(b) of the Bankruptcy Code or any successor provision having similar effect under the Bankruptcy Code), then such Person further acknowledges and agrees
that any such interest, claim or benefit in or from Other Assets is and will be expressly subordinated to the indefeasible payment in full, which, under the terms of the relevant documents relating to the securitization or conveyance of such Other
Assets, are entitled to be paid from, entitled to the 

  

					
		 	37	 	

 
benefits of, or otherwise secured by such Other Assets (whether or not any such entitlement or security interest is legally perfected or otherwise entitled to a priority of distributions or
application under applicable law, including insolvency laws, and whether or not asserted against the Depositor), including the payment of post-petition interest on such other obligations and liabilities. This subordination agreement will be deemed a
subordination agreement within the meaning of Section 510(a) of the Bankruptcy Code. Each of the Owner Trustee (in its individual capacity and as the Owner Trustee), by entering into or accepting this Agreement, the Delaware Trustee (in its
individual capacity and as the Delaware Trustee), by entering into or accepting this Agreement, each Certificateholder, by accepting a Certificate, and the Indenture Trustee and each Noteholder or Note Owner, by accepting the benefits of this
Agreement, hereby further acknowledges and agrees that no adequate remedy at law exists for a breach of this Section and the terms of this Section may be enforced by an action for specific performance. The provisions of this Section will be for the
third party benefit of those entitled to rely thereon and will survive the termination of this Agreement. 
 SECTION 11.9
Headings. The headings of the various Articles and Sections herein are for convenience of reference only and shall not define or limit any of the terms or provisions hereof. 

SECTION 11.10 Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE,
WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

SECTION 11.11 Waiver of Jury Trial. To the extent permitted by applicable law, each party hereto irrevocably waives all
right of trial by jury in any Proceeding or counterclaim based on, or arising out of, under or in connection with this Agreement, any other Transaction Document or any matter arising hereunder or thereunder. 

SECTION 11.12 Information Requests. The parties hereto shall provide any information reasonably requested by the
Seller, the Servicer, the Issuer, the Depositor or any of their Affiliates at the expense of the Seller, the Servicer, the Issuer, the Depositor or any of their Affiliates, as applicable, in order to comply with or obtain more favorable treatment
under any current or future law, rule, regulation, accounting rule or principle. 
 SECTION 11.13 Form 10-D and Form 10-K Filings. So long as the Depositor is filing Exchange Act Reports with respect to the Issuer and until the Depositor notifies the Owner Trustee and the
Delaware Trustee that such action is no longer required (i) no later than each Payment Date, the Owner Trustee and the Delaware Trustee, as applicable, shall notify the Depositor of any Form 10-D
Disclosure Item with respect to the Owner Trustee or the Delaware Trustee, as applicable, together with a description of any such Form 10-D Disclosure Item in form and substance reasonably acceptable to the
Depositor; provided that no such notification need be made if there has been no change to such Form 10-D Disclosure Items from those 

  

					
		 	38	 	

 
disclosed on the previous Payment Date, and (ii) on or before March 15 of each calendar year for so long as the Depositor is filing Exchange Act Reports with respect to the Issuer,
commencing on March 15, 2018, the Owner Trustee and the Delaware Trustee shall, upon written request of the Depositor, each deliver to the Depositor the certification substantially in the form attached hereto as Exhibit E or such form as
mutually agreed upon by the Depositor and the Owner Trustee or the Delaware Trustee, as applicable, regarding any affiliations or relationships (as contemplated in Item 1119 of Regulation AB) between the Owner Trustee or the Delaware Trustee,
as applicable, and any Item 1119 Party and any Form 10-D Disclosure Item. 
 SECTION
11.14 Form 8-K Filings. So long as the Depositor is filing Exchange Act Reports with respect to the Issuer and until the Depositor notifies the Owner Trustee and the Delaware Trustee, as applicable,
that such action is no longer required, the Owner Trustee or the Delaware Trustee, as applicable, shall promptly notify the Depositor, but in no event later than four (4) Business Days after its occurrence, of any Reportable Event described in
clause (e) of the definition thereof with respect to the Owner Trustee or the Delaware Trustee, as applicable, of which a Responsible Officer of the Owner Trustee or the Delaware Trustee, as applicable, has actual knowledge (other than a
Reportable Event described in clause (e) of the definition thereof as to which the Depositor or the Servicer has actual knowledge). The Owner Trustee and the Delaware Trustee shall be deemed to have actual knowledge of any such event
solely to the extent that it relates to the Owner Trustee or the Delaware Trustee, as applicable, in its individual capacity or any action by the Owner Trustee or the Delaware Trustee, as applicable, under this Agreement. 

SECTION 11.15 Information to Be Provided by the Owner Trustee and the Delaware Trustee. The Owner Trustee and the
Delaware Trustee shall provide the Depositor and the Servicer (each, a “Transaction Party” and, collectively, the “Transaction Parties”) with (i) notification, as soon as practicable and in any event within
five (5) Business Days, of all written demands communicated to a Responsible Officer of the Owner Trustee or the Delaware Trustee for the purchase, repurchase or replacement of any Receivable pursuant to Section 3.6 of
the Servicing Agreement or Section 3.3 of the Receivables Sale Agreement, as applicable, and (ii) promptly upon reasonable request in writing by a Transaction Party, any other information reasonably requested by a
Transaction Party that is in the Owner Trustee’s or the Delaware Trustee’s possession and reasonably accessible to it to facilitate compliance by the Transaction Parties with Rule 15Ga-1 under the
Exchange Act, and Items 1104(e) and 1121(c) of Regulation AB. In no event shall the Owner Trustee or the Delaware Trustee be deemed to be a “securitizer” as defined in Section 15G(a) of the Exchange Act with respect to the
transactions contemplated by the Transaction Documents, nor shall it have (A) any responsibility or liability for making any filing to be made by a securitizer under the Exchange Act or Regulation AB or (B) any duty or obligation to
undertake any investigation or inquiry related to repurchase activity or otherwise to assume any additional duties or responsibilities with respect to the transactions contemplated by the Transaction Documents. A demand does not include general
inquiries, including investor inquiries, regarding asset performance or possible breaches of representations or warranties. 

SECTION 11.16 USA Patriot Act Compliance. The parties hereto acknowledge that in accordance with Section 326 of
the USA Patriot Act, the Owner Trustee, like all financial 

  

					
		 	39	 	

 
institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that
establishes a relationship or opens an account with the Owner Trustee. The parties to this Agreement agree that they will provide the Owner Trustee with such information as it may request in order for the Owner Trustee to satisfy the requirements of
the USA Patriot Act. 
 [Remainder of Page Intentionally Left Blank] 

  

					
		 	40	 	

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

					
	 THE BANK OF NEW YORK MELLON, as Owner

Trustee
	 	                 

		
	
By:                      
                                         
               
	 	
	 Name:
	 	
	 Title:
	 	

  

					
		 	S-1	 	

 
			
	BNY MELLON TRUST OF DELAWARE, as Delaware   Trustee
	
	
By:                      
                                         
                           

	 Name:

	 Title:

  

					
		 	S-2	 	

 
					
	 FIFTH THIRD HOLDINGS FUNDING, LLC, as      

Depositor
	 	
		
	
By:                      
                                         
                       
	 	
	 Name:
	 	
	 Title:
	 	

  

					
		 	S-3	 	

 EXHIBIT A 

FORM OF CERTIFICATE 
  

			
	 NUMBER
	  	      % PERCENTAGE INTEREST
	 R-      
	  	CUSIP NO.                     
		  	ISIN                     

 FIFTH THIRD AUTO TRUST 2017-1 

CERTIFICATE 

Evidencing the 100% Percentage Interest in all of the assets of the Issuer (as defined below), which consist primarily of
motor vehicle receivables, including motor vehicle retail installment sales contracts and/or installment loans that are secured by new and used automobiles, light-duty trucks and vans. 

(This Certificate does not represent an interest in or obligation of Fifth Third Holdings, LLC, Fifth Third Holdings
Funding, LLC, Fifth Third Bank or any of their respective Affiliates, except to the extent described below.) 
 THIS
CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR ANY OTHER APPLICABLE SECURITIES OR “BLUE SKY” LAWS OF ANY STATE OR OTHER JURISDICTION. THE HOLDER HEREOF, BY
PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE RESOLD, ASSIGNED, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OR ANY OTHER APPLICABLE SECURITIES OR “BLUE
SKY” LAWS AND ONLY PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A “QIB”),
PURCHASING FOR ITS OWN ACCOUNT OR THE ACCOUNT OF A QIB, WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A. 

NEITHER THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE ACQUIRED OR HELD (IN THE INITIAL ACQUISITION OR THROUGH A TRANSFER) BY
OR FOR THE ACCOUNT OF OR WITH THE ASSETS OF (A) AN “EMPLOYEE BENEFIT PLAN” AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”) WHICH IS SUBJECT TO TITLE I OF ERISA,
(B) A “PLAN” AS DESCRIBED BY SECTION 4975(e)(1) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), WHICH IS SUBJECT TO SECTION 4975 OF THE CODE, (C) ANY ENTITY DEEMED TO HOLD THE ASSETS OF ANY OF THE
FOREGOING BY REASON OF SUCH EMPLOYEE BENEFIT PLAN’S OR OTHER PLAN’S INVESTMENT IN THE ENTITY (EACH A “BENEFIT PLAN”) OR (D) A GOVERNMENTAL, CHURCH, NON-U.S. OR OTHER PLAN THAT IS
SUBJECT TO ANY FEDERAL, STATE, LOCAL OR NON-U.S. LAW THAT IS 

  
 A-6 

 
SUBSTANTIALLY SIMILAR TO THE FIDUCIARY RESPONSIBILITY OR PROHIBITED TRANSACTION PROVISIONS OF ERISA OR SECTION 4975 OF THE CODE. 

THIS CERTIFIES THAT
[                    ] is the registered owner of a [        ]% nonassessable, fully-paid Percentage
Interest in the Trust Estate of FIFTH THIRD AUTO TRUST 2017-1, a Delaware statutory trust (the “Issuer”) formed by Fifth Third Holdings Funding, LLC, a Delaware limited liability company, as
depositor (the “Depositor”). 
 The Issuer was created pursuant to a Trust Agreement dated as of
August 21, 2017 (as amended and restated as of September 20, 2017, (the “Trust Agreement”)), among the Depositor, The Bank of New York Mellon, not in its individual capacity, but solely as owner trustee (the
“Owner Trustee”), and BNY Mellon Trust of Delaware, not in its individual capacity, but solely as Delaware trustee (the “Delaware Trustee”), a summary of certain of the pertinent provisions of which is set forth
below. To the extent not otherwise defined herein, the capitalized terms used herein have the meanings assigned to them in Appendix A to the Sale Agreement, dated as of September 20, 2017, between the Depositor and the Issuer as the same
may be amended or supplemented from time to time. 
 This Certificate is issued under and is subject to the terms,
provisions and conditions of the Trust Agreement, to which Trust Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. The provisions and conditions of the Trust Agreement are hereby
incorporated by reference as though set forth in their entirety herein. 
 The Holder of this Certificate acknowledges and
agrees that its rights to receive distributions in respect of this Certificate are subordinated to the rights of the Noteholders as described in the Indenture, the Servicing Agreement and the Trust Agreement, as applicable. 

THIS CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT
OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

By accepting this Certificate, the Certificateholder hereby covenants and agrees that prior to the date which is one year and
one day after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by any Bankruptcy Remote Party (i) such Person shall not authorize such Bankruptcy Remote Party to commence a voluntary winding-up or other voluntary case or other Proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under any bankruptcy, insolvency or other similar
law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any substantial part of its
property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other Proceeding commenced against such Bankruptcy Remote Party, or to make a general assignment for the benefit
of any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such Person shall not commence or join with any other Person 

  
 A-2 

 
in commencing any Proceeding against such Bankruptcy Remote Party under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction.

 By accepting and holding this Certificate (or any interest herein), the Holder hereof shall be deemed to have represented
and warranted that it is not a Benefit Plan or a governmental, church, non-U.S. or other plan which is subject to any Similar Law and is not purchasing on behalf of a Benefit Plan or a governmental, church, non-U.S. or other plan which is subject to any Similar Law, and that the Holder is a United States Person as defined in Code Section 7701(a)(30). 

It is the intention of the parties to the Trust Agreement that, solely for purposes of United States federal income or state
and local income, franchise and value added tax purposes, (1) for so long as the Issuer has, or is deemed to have, but a single beneficial owner, including a single beneficial owner of the Certificates, it shall be disregarded as an entity
separate from its single beneficial owner and (2) if the Issuer has, or is deemed to have, more than one beneficial owner, including more than one beneficial owner of its Certificates, it shall be treated as a partnership that is not a
“publicly traded partnership” as defined in Treasury Regulation Section 1.7704-1 promulgated under the Code. No election shall be made by or on behalf of the Issuer to be classified as an
association taxable as a corporation for United States federal income tax purposes. By accepting this Certificate, the Certificateholder agrees to take no action inconsistent with the foregoing intended tax treatment. 

By accepting this Certificate, the Certificateholder acknowledges that this Certificate represents a Percentage Interest only
and does not represent interests in or obligations of the Depositor, the Servicer, the Administrator, the Owner Trustee, the Indenture Trustee or any of their respective Affiliates and no recourse may be had against such parties or their assets,
except as expressly set forth or contemplated in this Certificate, the Trust Agreement or any other Transaction Document. 

Each Certificateholder, by acceptance of this Certificate, acknowledges and agrees that the purpose of Article XII of
the Indenture is to facilitate compliance with the FDIC Rule by the Bank, the Depositor, the Servicer, FTH LLC and the Issuer (collectively, the “Fifth Third Parties”) and that the interpretations of the requirements of the FDIC Rule may
change over time, whether due to interpretive guidance provided by the FDIC or its staff, consensus among participants in the asset-backed securities markets, advice of counsel, or otherwise, and agrees that the provisions set forth in Article
XII of the Indenture shall have the effect and meanings that are appropriate under the FDIC Rule as such effect and meanings change over time on the basis of evolving interpretations of the FDIC Rule. 

  
 A-3 

 IN WITNESS WHEREOF, the Issuer has caused this Certificate to be duly executed.

  

					
		 		 	 FIFTH THIRD AUTO TRUST 2017-1

			
		 		 	 By: The Bank of New York Mellon, not in its

individual capacity, but solely as Owner Trustee    

			
		 	
Dated:                      
                   
	 	
		 		 	 By:
                                         
                       

		 		 	 Name:

		 		 	 Title:

  
 A-4 

 OWNER TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

 

			
	 THE BANK OF NEW YORK MELLON, not in
its individual capacity but solely as Owner Trustee

		
	 By:
	 	  

		 	 Authenticating Agent

		
	 By:
	 	  

		 	 Authorized Signatory

  
 A-5 

 ASSIGNMENT 

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

PLEASE INSERT SOCIAL SECURITY 

OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 

[                      
                  ] 
  

 
 (Please print or type
name and address, including postal zip code, of assignee) 
  
  

the within Certificate, (Asset Backed Certificate No. R-[__] issued by Fifth Third
Auto Trust 2017-1), and all rights thereunder, hereby irrevocably constituting and appointing 

                       
                 Attorney to transfer said Certificate on the books of the Certificate Registrar, with full power of substitution in the premises 

Dated:
                        , [          ] 

[TRANSFEROR] 
 By:
                                         
            
 Name: 

Title: 

  
 A-6 

 EXHIBIT B 

FORM OF CERTIFICATE INVESTOR REPRESENTATION LETTER 

Relating to the 
 Fifth Third Auto
Trust 2017-1 Asset Backed Certificates 
  

			
	 Fifth Third Auto Trust 2017-1, as Issuer

c/o The Bank of New York Mellon

101 Barclay Street
 Floor 7
West
 New York, New York 10286

Attention: Asset Backed Securities Unit –

Fifth Third Bank 2017-1
	  	 The Bank of New York Mellon, as Owner

Trustee
 101 Barclay Street

Floor 7 West
 New York, New York
10286
 Attention: Asset Backed Securities Unit –

Fifth Third Bank 2017-1

 [Transferor] 

[Address]     

Ladies and Gentlemen: 

In connection with the purchase or acquisition of one or more certificates issued by Fifth Third Auto Trust 2017-1 (the “Certificates”) pursuant to the Amended and Restated Trust Agreement, dated as of September 20, 2017 (the “Trust Agreement”), among Fifth Third
Holdings Funding, LLC, a Delaware limited liability company, as the depositor (the “Depositor”), The Bank of New York Mellon, a New York banking corporation, not in its individual capacity, but solely as the owner trustee
(the “Owner Trustee”), and BNY Mellon Trust of Delaware, a Delaware banking corporation, not in its individual capacity, but solely as the Delaware trustee (the “Delaware Trustee”), the transferee
named below (the “Transferee”) hereby represents, warrants, covenants and agrees as follows (terms used but not defined herein have the respective meanings given to such terms in the Trust Agreement): 

 

	 	1.	 The Transferee understands that the Certificates are being offered only in a transaction not involving any
public offering in the United States within the meaning of the Securities Act of 1933, as amended (the “Act”), none of the certificates have been or will be registered under the Act and if in the future, the Transferee
decides to offer, resell, pledge or otherwise transfer the certificates, such certificates may be offered, resold, pledged or otherwise transferred solely in accordance with the Trust Agreement and the legend set forth in paragraph 11 below.

  

	 	2.	 The Transferee understands that an investment in the Certificates involves certain risks, including the risk
of loss of all or a substantial part of its investment under certain circumstances. 

  

					
		 	B-1	 	

	 	3.	 The Transferee has such knowledge and experience in financial and business matters that the Transferee is
capable of evaluating the merits and risks of investments in the Certificates, and the Transferee and any accounts for which it is acting are each able to bear the economic risk of the holder’s or of its investment. 

 

	 	4.	 The Transferee has had access to such financial and other information concerning the Issuer and the
Certificates as it deemed necessary or appropriate in order to make an informed investment decision with respect to its purchase of the Certificates. 

  

	 	5.	 The Transferee will not offer, transfer, pledge, sell or otherwise dispose of the Certificates or any interest
in the Certificates to any person in any manner, or solicit any offer to buy, transfer, pledge or otherwise dispose of the Certificates or any interest in the Certificates from any person in any manner, or make any general solicitation by means of
general advertising or in any other manner, or take any other action that would constitute a distribution of the Certificates under the Act or that would render the disposition of the Certificates a violation of Section 5 of the Act or any
other applicable securities laws or require registration pursuant thereto, and will not authorize any person to act on its behalf, in such manner with respect to the Certificates. 

 

	 	6.	 The Transferee is either (a) an affiliate of the Depositor or (b) (i) a “qualified
institutional buyer” as that term is defined in Rule 144A under the Act (a “Qualified Institutional Buyer”), (ii) aware that the sale or resale of the Certificates to it is being made in reliance on the exemption from
registration provided by Rule 144A under the Act, and (iii) is acquiring the Certificates for its own account or for one or more accounts, each of which is a Qualified Institutional Buyer, and as to each of which it exercises sole investment
discretion. 

  

	 	7.	 Unless such person is an Affiliate of the Depositor, the Transferee agrees that it will not offer or sell, or
otherwise transfer the Certificates to any person unless the transferee of the Certificates has executed a Certificate Investor Representation Letter. 

  

	 	8.	 The Transferee acknowledges and agrees that the Owner Trustee shall not be obligated to register any transfer
of the Certificates unless the transferee has certified to the Owner Trustee that such transfer does not violate any of the transfer restrictions stated in the Trust Agreement, and that the Owner Trustee shall not be liable to any Person for
registering any transfer based on such certifications. 

  

	 	9.	 The Transferee acknowledges and agrees that no transfer (or purported transfer) of any Certificate shall be
effective, and any such transfer (or purported transfer) shall be void ab initio, and no person shall otherwise become a Certificateholder, if, after such transfer (or purported transfer), the Issuer would have more than 95 direct or indirect
holders of an interest in the Certificates and the Retained Notes. For purposes of determining whether the Issuer will have more than 95 holders of an interest in the Certificates and the Retained Notes, each Person indirectly owning an interest in
a Certificate (or a Retained Note) through a partnership (including any entity treated as a partnership for United States federal income tax purposes), a grantor trust, an S 

  

					
		 	B-2	 	

	 	 
corporation or an entity wholly owned and disregarded as separate from (within the meaning of Treasury Regulation Section 301.7701-3) any of the
foregoing (each such entity, a “flow-through entity”) shall be treated as a Certificateholder (or as a Holder of a Retained Note), as applicable, unless the Depositor determines in its sole and absolute discretion, after consulting
with qualified tax counsel, that less than substantially all of the value of the beneficial owner’s interest in the flow-through entity is attributable to the flow-through entity’s interest (direct or indirect) in the Issuer.

  

	 	10.	 The Transferee acknowledges and agrees that no transfer of any Certificate shall be permitted if such transfer
is effected through an established securities market or secondary market (or the substantial equivalent thereof) within the meaning of Section 7704 of the Code and any proposed, temporary or final United States Treasury regulations thereunder.

  

	 	11.	 The Transferee understands that if a Responsible Officer of Owner Trustee becomes aware that (a) a
transfer or attempted or purported transfer of any Certificate or interest therein was consummated in compliance with the provisions of the Trust Agreement on the basis of a materially incorrect certification from the transferor or purported
transferee, (b) a transferee failed to deliver to the Owner Trustee a Certificate Investor Representation Letter or (c) the Certificateholder of any Certificate or interest therein is in material breach of any representation or agreement
set forth in any certificate or any deemed representation or agreement of such Certificateholder, the Owner Trustee will direct the Certificate Registrar not to register such attempted or purported transfer and, if a transfer has been registered,
such transfer shall be absolutely null and void ab initio and shall not operate to transfer any rights to the purported transferee (such purported transferee, a “Disqualified Transferee”) and the last preceding
Certificateholder of such Certificateholder that was not a Disqualified Transferee shall be restored to all rights as a Certificateholder thereof retroactively to the date of the purported transfer of such Certificate by such Certificateholder.

  

	 	12.	 The Transferee understands that the Certificates bear a legend to the following effect: 

 

	 	  	 “THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”) OR ANY OTHER APPLICABLE SECURITIES OR “BLUE SKY” LAWS OF ANY STATE OR OTHER JURISDICTION. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE RESOLD, ASSIGNED, PLEDGED OR
OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OR ANY OTHER APPLICABLE SECURITIES OR “BLUE SKY” LAWS AND ONLY PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A
PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A “QIB”), PURCHASING FOR ITS OWN ACCOUNT OR THE ACCOUNT OF A QIB, WHOM THE HOLDER HAS INFORMED THAT THE

  

					
		 	B-3	 	

	 	 
REOFFER, RESALE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A.” 

  

	 	13.	 The Transferee is not purchasing or holding the Certificates (or any interest therein) by or for the account
of or with the assets of (a) an employee benefit plan (as defined in Section 3(3) of ERISA), which is subject to Title I of ERISA, (b) a “plan” as described by Section 4975(e)(1) of the Code, which is subject to
Section 4975 of the Code, (c) any entity deemed to hold the assets of any of the foregoing by reason of such employee benefit plan’s or plan’s investment in the entity or (d) a governmental, church, non-U.S. or other plan that is subject to any federal, state, local or other law that is substantially similar to the fiduciary responsibility or prohibited transaction provisions of ERISA or Section 4975 of
the Code. 

  

	 	14.	 The Transferee is a person who is a United States Tax Person and has provided to the Owner Trustee, the
Administrator and the Certificate Paying Agent two properly completed and duly executed originals of U.S. Internal Revenue Service Form W-9 (or applicable successor form) certifying that it is not subject to
backup withholding. 

  

	 	15.	 The Transferee acknowledges that the Issuer, the Owner Trustee and others will rely upon the truth and
accuracy of the foregoing acknowledgements, representations, warranties and agreements and agrees that if any of the acknowledgments, representations, warranties or agreements made by it in connection with its purchase of the Certificates are no
longer accurate, the Transferee will promptly notify the Issuer and the Owner Trustee. 

  

	 	16.	 The Transferee hereby acknowledges and agrees that its purchase or acquisition of the Certificates is subject
to the confidentiality terms set forth in a confidentiality agreement in a form acceptable to the Depositor and the Bank to be attached hereto. 

This letter is not a commitment by the Transferee to purchase any Certificate or a commitment to sell any Certificate to the Transferee. 

You are entitled to rely upon this letter and you are irrevocably authorized to produce this letter or a copy hereof to any interested party
in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 
 [Signature Page Follows] 

  

					
		 	B-4	 	

 Any photocopy, facsimile or other copy of this letter shall be deemed of equal
effect as a signed original. 
  

							
		  	 Executed by
	  	
			
		  	  
	  	
		  	 Name of Transferee
	  	
			
		  	
By:                      
                                         
       
	  	
		  	 Name:
	  		  	
		  	 Title:
	  		  	

  

					
	Transferee’s Address:          	    	  
	  	
		    	  
	  	
		    	  
	  	
		    	  
	  	
	Telephone:    	    	  
	  	
	Facsimile:     	    	  
	  	

  

					
		 	B-5	 	

 EXHIBIT C 

FORM OF NOTICE OF REQUESTS TO REPURCHASE RECEIVABLES 

[            ] 

[Depositor] 
 [Servicer] 

Re:    Fifth Third Auto Trust 2017-1 – Notice of Requests to
Repurchase Receivables 
 Reference is hereby made to the Amended and Restated Trust Agreement, dated as of
September 20, 2017 (the “Trust Agreement”), among Fifth Third Holdings Funding, LLC, as depositor (the “Depositor”), The Bank of New York Mellon, not in its individual capacity, but solely as owner trustee (the “Owner
Trustee”), and BNY Mellon Trust of Delaware, not in its individual capacity, but solely as Delaware trustee (the “Delaware Trustee”). Capitalized terms used herein and not otherwise defined shall have the meanings assigned such terms
in the Trust Agreement. This Notice is being delivered pursuant to Section 11.15 of the Trust Agreement. 

The Owner Trustee hereby certifies as to the checked option below: 

[    ] During the period from and including
[                    ] to but excluding
[                    ], the Owner Trustee received no requests from the holders of any of the Notes or Certificates outstanding during that
period requesting that any Receivables be repurchased with respect to such Notes or Certificates. 

[    ] During the period from and including
[                    ] to but excluding
[                    ], the Owner Trustee received one or more requests from the holders of any of the Notes or Certificates outstanding
during that period requesting that any Receivables be repurchased with respect to such Notes or Certificates. Copies of such requests received in writing are attached hereto, and details of any such requests received orally are as set forth below:

 Date of Request 

Number of Receivables 

Aggregate Principal Balance of Receivables Subject to Request 

    [REMINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  

					
		 	C-1	 	

 
					
	 THE BANK OF NEW YORK MELLON,

not in its individual capacity

but solely as Owner Trustee
	 	             

		
	
By:                      
                                         
         
	 	
	 Name:
	 		 	
	 Title:
	 		 	

  

					
		 	C-2	 	

 EXHIBIT D 

FORM OF REGISTRATION OF CERTIFICATE TRANSFER DIRECTION LETTER PURSUANT TO THE TRUST AGREEMENT 

[            ], 20[    ] 

The Bank of New York Mellon 
 as
Certificate Registrar and Owner Trustee 
 of Fifth Third Auto Trust 2017-1 

101 Barclay Street 
 Floor 7 West

 New York, New York 10286 

Attention: Asset Backed Securities Unit – Fifth Third Bank 2017-1 

Reference is hereby made to the Amended and Restated Trust Agreement, dated as of September 20, 2017 (the “Trust
Agreement”), among Fifth Third Holdings Funding, LLC, as Depositor (the “Depositor”), The Bank of New York Mellon, not in its individual capacity, but solely as Owner Trustee (the “Owner Trustee”), and BNY
Mellon Trust of Delaware, not in its individual capacity, but solely as Delaware Trustee (the “Delaware Trustee”), governing Fifth Third Auto Trust 2017-1 (the “Issuer”). Capitalized
terms not defined herein shall have the meanings assigned to such terms in the Trust Agreement. 
 You are hereby notified
that [name of Transferor] (the “Transferor”) has transferred its [    ]% beneficial interest in the Issuer evidenced by Certificate No.         . Enclosed,
please find the following documentation as required by the Trust Agreement: 
  

	 	1.	 Original Certificate No. R-[    ] for
cancellation; 

  

	 	2.	 Written instrument of transfer executed by Transferor with signature medallion guaranteed;1 

  

	 	3.	 Incumbency certificate of Transferor certified by an officer of the Transferor; 

 

	 	4.	 Certificate Investor Representation Letter executed by Transferee; 

 

	 	5.	 [FormW-9][applicable successor form] of Transferee.

 You are hereby directed, as Owner Trustee and Certificate Registrar, to take the following actions to register the
certificate transfer in the order enumerated below: 
  
  

1 [Please use form of Assignment attached to the back of the Form of Certificate on
Exhibit A of the Trust Agreement.] 

  

					
		 	D-1	 	

	 	a)	 cancel and dispose of, in accordance with the customary practices of the Owner Trustee, the Certificate
representing [        ] Percentage Interest in the Issuer, bearing certificate number R-[    ], registered in the name of the
Transferor; 

  

	 	b)	 execute and authenticate one or more Certificates, as specified in Schedule A hereto, representing the
relevant Percentage Interest in the Issuer specified in Schedule A hereto, bearing such appropriate certificate number as determined by the Certificate Registrar and to register said Certificate in the name of the Transferee specified in the
corresponding column on Schedule A hereto; and 

  

	 	c)	 to deliver said authenticated Certificates to the addresses specified in the corresponding column on
Schedule A hereto. 

 The wire instructions of each Certificateholder are set forth on Schedule
A hereto. 
 The undersigned Transferee hereby certifies to the Owner Trustee that the transfer requested hereby does
not violate any of the transfer restrictions stated in the Trust Agreement, including but not limited to clauses (d) and (e) of Section 3.5 thereof. 

[Signature Page Follows] 

  

					
		 	D-2	 	

 
					
	[TRANSFEROR]	 	
			
	
By:                      
                                         
 
	 		 	
	 Name:
	 		 	
	 Title:
	 		 	
		
	[TRANSFEREE]	 	
		
	
By:                      
                                         
 
	 	
	 Name:
	 		 	
	 Title:
	 	
                    
	 	

  

					
		 	D-3	 	

 SCHEDULE A 

[To be updated] 
  

									
	 Name of

Transferee
  
	  	 Tax ID Number

of Transferee
  
	  	
Percentage
Interest2

 
	  	 Delivery

Address
  
	  	
Wire
 Instructions

 

	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 

  
  

2 Aggregate Percentage Interest of new Certificates must match the Percentage Interest of
the transferred Certificate being cancelled pursuant to (a) above. 

  

					
		 	D-4	 	

 EXHIBIT E 

FORM OF [OWNER][DELAWARE] TRUSTEE’S ANNUAL CERTIFICATION 

REGARDING ITEM 1117 AND ITEM 1119 OF REGULATION AB 

Reference is made to the Form 10-K of Fifth Third Auto Trust 2017-1 (the “Form 10-K”) for the fiscal year ended December 31, 20[    ]. Capitalized terms used but not otherwise defined herein
shall have the respective meanings given to them in the Form 10-K. 
 [The Bank of
New York Mellon][BNY Mellon Trust of Delaware], a [New York][Delaware] banking corporation (“BNYM”), does hereby certify to the Sponsor, the Depositor and the Issuing Entity that: 

1.    As of the date of the Form 10-K, there are no pending legal
Proceedings against BNYM or Proceedings known to be contemplated by governmental authorities against BNYM that would be material to the investors in the Notes. 

2.    As of the date of the Form 10-K, there are no affiliations,
as contemplated by Item 1119 of Regulation AB, between BNYM and any of Fifth Third Bank, an Ohio banking corporation, Fifth Third Holdings, LLC, Fifth Third Holdings Funding, LLC, the Indenture Trustee and the Issuing Entity, or any affiliates of
such parties. 
 IN WITNESS WHEREOF, BNYM has caused this certificate to be executed in its corporate name by an officer
thereunto duly authorized. 
 Dated:
                    , 20[    ] 
  

							
		 	 [  ]
	  		  	
				
		 	
By:                      
                                         
      
	  		  	
		 	 Name:
	  		  	
		 	 Title:
	  		  	

  

					
		 	E-1EX-10.7

 Exhibit 10.7 
  

ASSET REPRESENTATIONS REVIEW AGREEMENT 

among 
 FIFTH THIRD AUTO TRUST 2017-1, 
 as Issuer, 

FIFTH THIRD BANK, 
 as Servicer

 and 
 CLAYTON FIXED INCOME
SERVICES LLC, 
 as Asset Representations Reviewer 

Dated as of September 20, 2017 

 TABLE OF CONTENTS 

 

							
		 		  	 	Page	 
			
	 ARTICLE I
	 	 USAGE AND DEFINITIONS
	  	 	1	 
			
	 Section 1.1.
	 	 Usage and Definitions
	  	 	1	 
			
	 Section 1.2.
	 	 Additional Definitions
	  	 	1	 
			
	 ARTICLE II
	 	 ENGAGEMENT OF ASSET REPRESENTATIONS REVIEWER
	  	 	2	 
			
	 Section 2.1.
	 	 Engagement; Acceptance
	  	 	2	 
			
	 Section 2.2.
	 	 Confirmation of Scope
	  	 	2	 
			
	 ARTICLE III
	 	 ASSET REPRESENTATIONS REVIEW PROCESS
	  	 	2	 
			
	 Section 3.1.
	 	 Review Notices
	  	 	2	 
			
	 Section 3.2.
	 	 Identification of Subject Receivables
	  	 	2	 
			
	 Section 3.3.
	 	 Review Materials
	  	 	2	 
			
	 Section 3.4.
	 	 Performance of Reviews
	  	 	3	 
			
	 Section 3.5.
	 	 Review Reports
	  	 	4	 
			
	 Section 3.6.
	 	 Limitations on Review Obligations
	  	 	5	 
			
	 Section 3.7.
	 	 Dispute Resolution
	  	 	5	 
			
	 ARTICLE IV
	 	 ASSET REPRESENTATIONS REVIEWER
	  	 	5	 
			
	 Section 4.1.
	 	 Representations and Warranties
	  	 	5	 
			
	 Section 4.2.
	 	 Covenants
	  	 	6	 
			
	 Section 4.3.
	 	 Fees, Expenses and Indemnities
	  	 	7	 
			
	 Section 4.4.
	 	 Limitation on Liability
	  	 	8	 
			
	 Section 4.5.
	 	 Indemnification by Asset Representations Reviewer
	  	 	8	 
			
	 Section 4.6.
	 	 Indemnification of Asset Representations Reviewer
	  	 	8	 
			
	 Section 4.7.
	 	 Inspections of Asset Representations Reviewer
	  	 	9	 
			
	 Section 4.8.
	 	 Delegation of Obligations
	  	 	9	 
			
	 Section 4.9.
	 	 Confidential Information
	  	 	9	 
			
	 Section 4.10.
	 	 Personally Identifiable Information
	  	 	11	 
			
	 ARTICLE V
	 	 RESIGNATION AND REMOVAL; SUCCESSOR ASSET

REPRESENTATIONS REVIEWER
	  	 	13	 
			
	 Section 5.1.
	 	 Eligibility Requirements for Asset Representations Reviewer
	  	 	13	 
			
	 Section 5.2.
	 	 Resignation and Removal of Asset Representations Reviewer
	  	 	13	 
			
	 Section 5.3.
	 	 Successor Asset Representations Reviewer
	  	 	14	 

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

 

							
		 		  	 	Page	 
			
	 Section 5.4.
	 	 Merger, Consolidation or Succession
	  	 	14	 
			
	 ARTICLE VI
	 	 OTHER AGREEMENTS
	  	 	14	 
			
	 Section 6.1.
	 	 Independence of Asset Representations Reviewer
	  	 	14	 
			
	 Section 6.2.
	 	 No Petition
	  	 	15	 
			
	 Section 6.3.
	 	 Limitation of Liability of Owner Trustee
	  	 	15	 
			
	 Section 6.4.
	 	 Termination of Agreement
	  	 	15	 
			
	 ARTICLE VII
	 	 MISCELLANEOUS PROVISIONS
	  	 	15	 
			
	 Section 7.1.
	 	 Amendments
	  	 	15	 
			
	 Section 7.2.
	 	 Assignment; Benefit of Agreement; Third Party Beneficiaries
	  	 	17	 
			
	 Section 7.3.
	 	 Notices
	  	 	17	 
			
	 Section 7.4.
	 	 Governing Law; Submission to Jurisdiction; Waiver of Jury Trial
	  	 	18	 
			
	 Section 7.5.
	 	 No Waiver; Remedies
	  	 	18	 
			
	 Section 7.6.
	 	 Severability
	  	 	18	 
			
	 Section 7.7.
	 	 Headings
	  	 	18	 
			
	 Section 7.8.
	 	 Counterparts
	  	 	18	 
			
	 Schedule A
	 	 Representations and Warranties, Review Materials and Tests
	  			

  
 ii 

 ASSET REPRESENTATIONS REVIEW AGREEMENT, dated as of September 20, 2017
(this “Agreement”), among FIFTH THIRD AUTO TRUST 2017-1, a Delaware statutory trust, as issuer (the “Issuer”), FIFTH THIRD BANK, an Ohio banking corporation (“Fifth
Third Bank”), as servicer (the “Servicer”), and CLAYTON FIXED INCOME SERVICES LLC, a Delaware limited liability company, as asset representations reviewer (the “Asset Representations Reviewer”). 

WHEREAS, the Issuer desires to engage the Asset Representations Reviewer to perform reviews of certain Receivables for
compliance with the representations and warranties made by Fifth Third Bank, as Seller, about the Receivables in the pool. 

NOW, THEREFORE, in consideration of the foregoing, other good and valuable consideration, and the mutual terms and conditions
contained herein, the parties hereto agree as follows. 
 ARTICLE I 

USAGE AND DEFINITIONS 

Section 1.1.    Usage and Definitions. (a) Except as otherwise specified herein or if the
context may otherwise require, capitalized terms not defined in this Agreement shall have the respective meanings assigned such terms set forth in Appendix A to the Sale Agreement, dated as of the date hereof (the “Sale Agreement”),
between the Issuer and the Depositor. 
 (b)      With respect to all terms in this Agreement,
the singular includes the plural and the plural the singular; words importing any gender include the other genders; references to “writing” include printing, typing, lithography and other means of reproducing words in a visible form;
references to agreements and other contractual instruments include all subsequent amendments, amendments and restatements, and supplements thereto or changes therein entered into in accordance with their respective terms and not prohibited by this
Agreement; references to Persons include their permitted successors and assigns; references to laws include their amendments and supplements, the rules and regulations thereunder and any successors thereto; the term “including” means
“including without limitation;” and the term “or” is not exclusive. 

Section 1.2.    Additional Definitions. The following terms have the meanings given below:

 “Asset Representations Review” means the performance by the Asset Representations Reviewer of the
testing procedures for each Test and each Subject Receivable according to Section 3.4. 

“Confidential Information” has the meaning stated in Section 4.9(b). 

“Information Recipients” has the meaning stated in Section 4.9(a). 

“Issuer PII” has the meaning stated in Section 4.10(a). 

“Personally Identifiable Information” or “PII” has the meaning stated in
Section 4.10(a). 

 “Review Fee” has the meaning stated in
Section 4.3(b). 
 “Review Materials” means, for an Asset Representations Review
and a Subject Receivable, the documents and other materials for each Test listed under “Review Materials” in Schedule A. 

“Review Report” means, for an Asset Representations Review, the report of the Asset Representations Reviewer
prepared according to Section 3.5. 
 “Test” has the meaning stated in
Section 3.4(a). 
 “Test Complete” has the meaning stated in
Section 3.4(c). 
 “Test Fail” has the meaning stated in
Section 3.4(a). 
 “Test Incomplete” has the meaning stated in
Section 3.4(a). 
 “Test Pass” has the meaning stated in
Section 3.4(a). 
 ARTICLE II 

ENGAGEMENT OF ASSET REPRESENTATIONS REVIEWER 

Section 2.1.    Engagement; Acceptance. The Issuer engages Clayton Fixed Income Services LLC
to act as the Asset Representations Reviewer for the Issuer. Clayton Fixed Income Services LLC accepts the engagement and agrees to perform the obligations of the Asset Representations Reviewer on the terms in this Agreement. 

Section 2.2.    Confirmation of Scope. The parties confirm that the Asset Representations
Reviewer is not responsible for (a) reviewing the Receivables for compliance with the representations and warranties under the Transaction Documents, except as described in this Agreement or (b) determining whether noncompliance with the
representations or warranties constitutes a breach of the Transaction Documents. 
 ARTICLE III 

ASSET REPRESENTATIONS REVIEW PROCESS 

Section 3.1.    Review Notices. On receipt of a Review Notice in accordance with
Section 7.5 of the Indenture, the Asset Representations Reviewer will commence an Asset Representations Review. The Asset Representations Reviewer will have no obligation to start an Asset Representations Review until a Review Notice is
received. 
 Section 3.2.    Identification of Subject Receivables. Within ten
(10) Business Days after receipt of a Review Notice, the Servicer will deliver to the Asset Representations Reviewer a list of the Subject Receivables. 

Section 3.3.    Review Materials. 

  
 2 

 (a)    Access to Review Materials. The Servicer will
give the Asset Representations Reviewer access to the Review Materials maintained by the Servicer for all of the Subject Receivables within sixty (60) calendar days after receipt of the Review Notice in one or more of the following ways in the
Servicer’s reasonable discretion: (i) by electronic posting of Review Materials to a password-protected website to which the Asset Representations Reviewer has access, (ii) by providing originals or photocopies of documents relating
to the Subject Receivables at one of the properties of the Servicer during the normal business hours of the Servicer or (iii) in another manner agreed by the Servicer and the Asset Representations Reviewer. The Servicer may redact or remove PII
from the Review Materials so long as all information in the Review Materials necessary for the Asset Representations Reviewer to complete the Asset Representations Review remains intact and unchanged. 

(b)    Missing or Insufficient Review Materials. The Asset Representations Reviewer will promptly
review the Review Materials to determine if, in its reasonable judgment, any Review Materials are missing or insufficient for the Asset Representations Reviewer to perform any Test. If the Asset Representations Reviewer reasonably determines that
any of the Review Materials are missing or insufficient for the Asset Representations Reviewer to perform any Test, the Asset Representations Reviewer will notify the Servicer promptly, and in any event no less than twenty (20) calendar days
before completing the Asset Representations Review, and the Servicer will use reasonable efforts to provide the Asset Representations Reviewer access to such missing Review Materials or other documents or information to correct the insufficiency
within fifteen (15) calendar days after receipt of notification. If the missing or insufficient Review Materials have not been provided by the Servicer within sixty (60) calendar days after receipt of notification, the parties agree that
the Subject Receivable will have a Test Incomplete for the related Test(s) and the Review Report will indicate the reason for the Test Incomplete. 

Section 3.4.    Performance of Reviews. 

(a)    Test Procedures. For an Asset Representations Review, the Asset Representations Reviewer
will perform for each Subject Receivable the procedures listed under “Tests” in Schedule A for each representation and warranty (each, a “Test”), using the Review Materials listed for each such Test in Schedule
A. For each Test and Subject Receivable, the Asset Representations Reviewer will determine in its reasonable judgment if the Test has been satisfied (a “Test Pass”), if the Test has not been satisfied (a “Test
Fail”) or if the Test could not be concluded as a result of missing or incomplete Review Materials (a “Test Incomplete”). The Asset Representations Reviewer will use such determination for all Subject Receivables that are
subject to the same Test. 
 (b)    Review Period. The Asset Representations Reviewer will
complete the Asset Representations Review of all of the Subject Receivables within sixty (60) calendar days after receiving access to the Review Materials under Section 3.3(a). However, if missing or additional Review
Materials are provided to the Asset Representations Reviewer under Section 3.3(b), the review period will be extended for an additional thirty (30) calendar days. 

(c)    Completion of Review for Certain Subject Receivables. Following the delivery of the list of
the Subject Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a 

  
 3 

 
Subject Receivable is paid in full by the Obligor or purchased from the Issuer by Fifth Third Bank according to the applicable Transaction Document. On receipt of notice, the Asset
Representations Reviewer will immediately terminate all Tests of such Receivables and the Review of such Receivables will be considered complete (a “Test Complete”). In this case, the Review Report will indicate a Test Complete for
the Receivables and the related reason. 
 (d)    Previously Reviewed Receivable. If a Subject
Receivable was included in a prior Asset Representations Review, the Asset Representations Reviewer will not conduct additional Tests on any such duplicate Subject Receivable unless such Subject Receivable was deemed a Test Incomplete as a result of
the failure of the Servicer to provide missing Review Material for such Subject Receivable and the Servicer elects to have such Subject Receivable included in the current Asset Representations Review. The Asset Representations Reviewer will include
the previously reported Test results for any such duplicate Subject Receivable within the Review Report for the current Asset Representations Review. 

(e)    Duplicative Tests. If the same Test is required for more than one representation or warranty
listed on Schedule A, the Asset Representations Reviewer will only perform the Test once for each Subject Receivable but will report the results of the Test for each applicable representation or warranty on the Review
Report. 
 (f)    Termination of Review. If an Asset Representations Review is in process and all
of the Notes will be paid in full on the next Payment Date, the Servicer will notify the Asset Representations Reviewer and the Indenture Trustee no less than ten (10) calendar days before that Payment Date. On receipt of notice, the Asset
Representations Reviewer will terminate the Asset Representations Review immediately and will have no obligation to deliver a Review Report. 

Section 3.5.    Review Reports. (a) Within ten (10) calendar days after the end of
the review period under Section 3.4(b), the Asset Representations Reviewer will deliver to the Issuer, the Servicer and the Indenture Trustee a Review Report indicating for each Subject Receivable whether there was a Test
Pass, a Test Incomplete or a Test Fail for each Test, or whether the Subject Receivable was a Test Complete and the related reason. The Review Report will contain a summary of the findings and conclusions of the Asset Representations Reviewer with
respect to the Asset Representations Review to be included in the Issuer’s Form 10-D report for the Collection Period in which the Review Report is received, including a description of each Test Fail and
Test Incomplete, if any, from the Asset Representations Review. The Asset Representations Reviewer will ensure that the Review Report does not contain any Issuer PII. On the reasonable request of the Servicer, the Asset Representations Reviewer will
provide additional details on the Test results. 
 (b)    Questions About Review. The Asset
Representations Reviewer will make appropriate personnel available to respond in writing to written questions or requests for clarification of any Review Report from the Servicer until payment in full of the Notes. The Asset Representations Reviewer
will have no obligation to respond to questions or requests for clarification from Noteholders or any Person other than the Servicer and will direct such Persons to submit written questions or requests to the Servicer. 

  
 4 

 Section 3.6.    Limitations on Review
Obligations. The Asset Representations Reviewer may rely on the information in any Review Notice, the list(s) of the Subject Receivables provided by the Servicer, and the accuracy and completeness of the Review Materials. The Asset
Representations Reviewer will have no obligation: 
 (a)    to determine whether a Delinquency Trigger
has occurred or whether the required percentage of Noteholders has voted to direct an Asset Representations Review under the Indenture; 

(b)    to determine which Receivables are Subject Receivables; 

(c)    to confirm the validity of the Review Materials; or 

(d)    to take any action or cause any other party to take any action under any of the Transaction
Documents or otherwise to enforce any remedies against any Person for breaches of representations or warranties about the Subject Receivables. 

Section 3.7.    Dispute Resolution. The Asset Representations Reviewer acknowledges and agrees
that any Review Report may be used by the Issuer, the Seller or the Servicer in any dispute resolution proceeding related to the Subject Receivables. No additional fees or reimbursement of expenses shall be paid to the Asset Representations Reviewer
regarding the Issuer’s, the Seller’s or the Servicer’s use of any Review Report; provided that the Asset Representations Reviewer will be reimbursed for its
out-of-pocket expenses incurred in its participation in any dispute resolution proceeding. 

ARTICLE IV 
 ASSET REPRESENTATIONS
REVIEWER 
 Section 4.1.    Representations and Warranties. The Asset Representations
Reviewer represents and warrants as of the Closing Date: 
 (a)    Organization and
Qualification. The Asset Representations Reviewer is duly organized and validly existing as a limited liability company in good standing under the laws of the State of Delaware. The Asset Representations Reviewer is qualified as a foreign
limited liability company in good standing and has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of its properties or the conduct of its activities requires the qualification, license or approval,
unless the failure to obtain the qualifications, licenses or approvals would not reasonably be expected to have a material adverse effect on the Asset Representations Reviewer’s ability to perform its obligations under this Agreement. 

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

  
 5 

 (c)    No Conflicts and No Violation. The execution,
delivery and performance by the Asset Representations Reviewer of the transactions contemplated by this Agreement and the performance of the Asset Representations Reviewer’s obligations under this Agreement will not (A) conflict with, or
be a breach or default under, any indenture, mortgage, deed of trust, loan agreement, guarantee or other agreement or instrument under which the Asset Representations Reviewer is a party, (B) result in the creation or imposition of any Lien on
any of the properties or assets of the Asset Representations Reviewer under the terms of any indenture, mortgage, deed of trust, loan agreement, guarantee or other agreement or instrument, (C) violate the organizational documents of the Asset
Representations Reviewer or (D) violate any law or, to the Asset Representations Reviewer’s knowledge, any order, rule or regulation of a federal or state court, regulatory body, administrative agency or other governmental instrumentality
having jurisdiction over the Asset Representations Reviewer or its properties that applies to the Asset Representations Reviewer, which, in each case, would reasonably be expected to have a material adverse effect on the Asset Representations
Reviewer’s ability to perform its obligations under this Agreement. 
 (d)    No Consent
Required. No approval or authorization by, or filing with, any Governmental Authority is required in connection with the execution, delivery and performance by the Asset Representations Reviewer of this Agreement other than (i) approvals
and authorizations that have previously been obtained and filings that have previously been made and (ii) approvals, authorizations or filings which, if not obtained or made, would not have a material adverse effect on the ability of the Asset
Representations Reviewer to perform its obligations under this Agreement. 
 (e)    No
Proceedings. There are no proceedings or investigations pending or    threatened in writing before a federal or state court, regulatory body, administrative agency or other governmental instrumentality having jurisdiction
over the Asset Representations Reviewer or its properties (A) asserting the invalidity of this Agreement, (B) seeking to prevent the completion of the transactions contemplated by this Agreement or (C) seeking any determination or
ruling that would reasonably be expected to have a material adverse effect on the Asset Representations Reviewer’s ability to perform its obligations under, or the validity or enforceability of, this Agreement. 

(f)    Eligibility. The Asset Representations Reviewer meets the eligibility requirements in
Section 5.1 and will notify the Issuer and the Servicer promptly if it no longer meets, or reasonably expects that it will no longer meet, the eligibility requirements in Section 5.1. 

Section 4.2.    Covenants. The Asset Representations Reviewer covenants and agrees that: 

(a)    Eligibility. It will notify the Issuer and the Servicer promptly if it no longer meets the
eligibility requirements in Section 5.1. 
 (b)    Review Systems;
Personnel. It will maintain business process management and/or other systems necessary to ensure that it can perform each Test and, on execution of this Agreement, will load each Test into these systems. The Asset Representations Reviewer will

  
 6 

 
ensure that these systems allow for each Subject Receivable and the related Review Materials to be individually tracked and stored as contemplated by this Agreement. The Asset Representations
Reviewer will maintain adequate staff that is properly trained to conduct Asset Representations Reviews as required by this Agreement. 

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

Section 4.3.    Fees, Expenses and Indemnities. 

(a)    Annual Fee. The Servicer will pay the Asset Representations Reviewer, as compensation for
agreeing to act as the Asset Representations Reviewer under this Agreement, an annual fee of $5,000. The annual fee will be payable by the Servicer on the Closing Date and on each anniversary thereof until this Agreement is terminated,
provided, that in the year in which all public Notes are paid in full, the annual fee shall be reduced pro rata by an amount equal to the days of the year in which the public Notes are no longer outstanding. 

(b)    Review Fee. Following the completion of an Asset Representations Review and the delivery to
the Indenture Trustee, the Issuer and the Servicer of the Review Report, or the termination of an Asset Representations Review in accordance with Section 3.4(f), and the delivery to the Servicer of a detailed invoice, the
Asset Representations Reviewer will be entitled to a fee of $200 for each Subject Receivable for which the Asset Representations Review was started (the “Review Fee”). However, no Review Fee will be charged for any Tests that were
performed in a prior Asset Representations Review or for any Asset Representations Review in which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Representations Review in accordance
with Section 3.4(f). The Servicer will pay the Review Fee to the Asset Representations Reviewer in accordance with the terms of the detailed invoice from the Asset Representations Reviewer. If an Asset Representations
Review is terminated in accordance with Section 3.4(f), the Asset Representations Reviewer must submit its invoice for the Review Fee for the terminated Asset Representations Review no later than five Business Days before
the final Payment Date in order to be reimbursed no later than the final Payment Date. 

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

(d)    Payment of Fees, Expenses and Indemnities. The Asset Representations Reviewer shall submit
reasonably detailed invoices to the Servicer for any amounts owed to it under this Agreement. To the extent not paid by the Servicer within sixty (60) calendar days following the receipt of a detailed invoice on the due date therefor hereunder,
the fees provided for in this Section 4.3 and the indemnities provided for in Section 4.6(a) shall be paid by the Issuer pursuant to the priority of payments set forth in Section 8.5 or
Section 5.4 of the Indenture; provided, that prior to any such payment pursuant to the Indenture, the Asset 

  
 7 

 
Representations Reviewer shall notify the Servicer in writing that such payments have been outstanding for at least sixty (60) calendar days. For the avoidance of doubt, to the extent that
such owed amounts are not paid in full by the Servicer or any other party, upon receipt of a detailed invoice, the Asset Representations Reviewer shall be entitled to payment by the Servicer of incurred but otherwise unpaid amounts. 

Section 4.4.    Limitation on Liability. The Asset Representations Reviewer will not be liable
to any Person for any action taken, or not taken, in good faith under this Agreement. However, the Asset Representations Reviewer will be liable for its willful misconduct, bad faith, breach of this Agreement or negligence in performing its
obligations under this Agreement. In no event will the Asset Representations Reviewer be liable for special, indirect or consequential losses or damages (including lost profit), even if the Asset Representations Reviewer has been advised of the
likelihood of the loss or damage and regardless of the form of action. 

Section 4.5.    Indemnification by Asset Representations Reviewer. The Asset Representations
Reviewer will indemnify each of the Issuer, the Servicer, the Depositor, the Seller, the Sponsor, the Owner Trustee, the Delaware Trustee and the Indenture Trustee and their respective directors, officers, employees and agents for all costs,
expenses, losses, damages and liabilities (including any reasonable legal fees and expenses incurred by an Indemnified Party in connection with the enforcement of any indemnification or other obligation of the Asset Representations Reviewer)
resulting from (a) the willful misconduct, bad faith or negligence of the Asset Representations Reviewer in performing its obligations under this Agreement, (b) the Asset Representations Reviewer’s failure to comply with the
requirements of applicable federal, state or local laws and regulations in the performance of its duties hereunder or (c) the Asset Representations Reviewer’s breach of any of its representations, warranties, covenants or other obligations
in this Agreement. The Asset Representations Reviewer’s obligations under this Section 4.5 will survive the termination of this Agreement, the termination of the Issuer and the resignation or removal of the Asset
Representations Reviewer. 
 Section 4.6.    Indemnification of Asset Representations
Reviewer. 
 (a)    Indemnification. The Servicer will indemnify the Asset Representations
Reviewer and its officers, directors, employees and agents (each, an “Indemnified Person”), for all costs, expenses, losses, damages and liabilities resulting from the performance of its obligations under this Agreement (including
the costs and expenses of defending itself against any loss, damage or liability), but excluding any cost, expense, loss, damage or liability resulting from (i) the Asset Representations Reviewer’s willful misconduct, bad faith or
negligence (other than errors in judgment), (ii) the Asset Representations Reviewer’s failure to comply with the requirements of applicable federal, state and local laws and regulations in the performance of its duties hereunder or
(iii) the Asset Representations Reviewer’s breach of any of its representations, warranties, covenants or other obligations in this Agreement. 

(b)    Proceedings. Promptly on receipt by an Indemnified Person of notice of a Proceeding against
it, the Indemnified Person will, if a claim is to be made under Section 4.6(a), notify the Servicer of the Proceeding. The Servicer may participate in and assume the defense and settlement of a Proceeding at its expense. If
the Servicer notifies the Indemnified Person of its intention to assume the defense of the Proceeding with counsel reasonably satisfactory to the 

  
 8 

 
Indemnified Person, and so long as the Servicer assumes the defense of the Proceeding in a manner reasonably satisfactory to the Indemnified Person, the Servicer will not be liable for legal
expenses of counsel to the Indemnified Person unless there is a conflict between the interests of the Servicer, and an Indemnified Person. If there is a conflict, the Servicer will pay for the reasonable fees and expenses of separate counsel to the
Indemnified Person. No settlement of a Proceeding may be made without the approval of the Servicer and the Indemnified Person, which approval will not be unreasonably withheld. 

(c)    Survival of Obligations. The Servicer’s obligations under this
Section 4.6 will survive the resignation or removal of the Asset Representations Reviewer and the termination of this Agreement. 

(d)    Repayment. If the Servicer makes any payment under this
Section 4.6 and the Indemnified Person later collects any of the amounts for which the payments were made to it from others, the Indemnified Person will promptly repay the amounts to the Servicer. 

Section 4.7.    Inspections of Asset Representations Reviewer. The Asset Representations
Reviewer agrees that, with reasonable prior notice not more than once during any year, it will permit authorized representatives of the Issuer or the Servicer, during the Asset Representations Reviewer’s normal business hours, to examine and
review the books of account, records, reports and other documents and materials of the Asset Representations Reviewer relating to (a) the performance of the Asset Representations Reviewer’s obligations under this Agreement,
(b) payments of fees and expenses of the Asset Representations Reviewer for its performance and (c) a claim made by the Asset Representations Reviewer under this Agreement. In addition, the Asset Representations Reviewer will permit the
Issuer’s or the Servicer’s representatives to make copies and extracts of any of those documents and to discuss them with the Asset Representations Reviewer’s officers and employees. Each of the Issuer and the Servicer will, and will
cause its authorized representatives to, hold in confidence the information except if disclosure may be required by law or if the Issuer or the Servicer reasonably determines that it is required to make the disclosure under this Agreement or the
other Transaction Documents. The Asset Representations Reviewer will maintain all relevant books, records, reports and other documents and materials for a period of at least two years after the termination of its obligations under this Agreement.

 Section 4.8.    Delegation of Obligations. The Asset Representations Reviewer may not
delegate or subcontract its obligations under this Agreement to any Person without the consent of the parties to this Agreement, which may be withheld in such party’s sole discretion. 

Section 4.9.    Confidential Information. 

(a)    Treatment. The Asset Representations Reviewer agrees to hold and treat Confidential
Information given to it under this Agreement in confidence and under the terms and conditions of this Section 4.9, and will implement and maintain safeguards to further assure the confidentiality of the Confidential
Information. The Confidential Information will not, without the prior consent of the Servicer, be disclosed or used by the Asset Representations Reviewer, or its officers, directors, employees, agents, representatives or affiliates, including legal
counsel (collectively, the “Information Recipients”) other than for the purposes of performing Asset 

  
 9 

 
Representations Reviews of Subject Receivables or performing its obligations under this Agreement. The Asset Representations Reviewer agrees that it will not, and will cause its Affiliates to not
(i) purchase or sell securities issued by the Fifth Third Bank or its affiliates or special purpose entities on the basis of Confidential Information or (ii) use the Confidential Information for the preparation of research reports,
newsletters or other publications or similar communications. 
 (b)    Definition.
“Confidential Information” means oral, written and electronic materials (irrespective of its source or form of communication) furnished before, on or after the date of this Agreement to the Asset Representations Reviewer for the
purposes contemplated by this Agreement, including: 
 (i)       lists of
Subject Receivables and any related Review Materials; 
 (ii)      origination
and servicing guidelines, policies and procedures and form contracts; and 

(iii)     notes, analyses, compilations, studies or other documents or records
prepared by the Servicer, which contain information supplied by or on behalf of the Servicer or its representatives. 
 However,
Confidential Information will not include information that (A) is or becomes generally available to the public other than as a result of disclosure by the Information Recipients, (B) was available to, or becomes available to, the
Information Recipients on a non-confidential basis from a Person or entity other than the Issuer or the Servicer before its disclosure to the Information Recipients who, to the knowledge of the Information
Recipient is not bound by a confidentiality agreement with the Issuer or the Servicer and is not prohibited from transmitting the information to the Information Recipients, (C) is independently developed by the Information Recipients without
the use of the Confidential Information, as shown by the Information Recipients’ files and records or other evidence in the Information Recipients’ possession or (D) the Issuer or the Servicer provides permission to the applicable
Information Recipients to release. 
 (c)    Protection. The Asset Representations Reviewer will
use best efforts to protect the secrecy of and avoid disclosure and unauthorized use of Confidential Information, including those measures that it takes to protect its own confidential information and not less than a reasonable standard of care. The
Asset Representations Reviewer acknowledges that Personally Identifiable Information is also subject to the additional requirements in Section 4.10. 

(d)    Disclosure. If the Asset Representations Reviewer is required by applicable law, regulation,
rule or order issued by an administrative, governmental, regulatory or judicial authority to disclose part of the Confidential Information, it may disclose the Confidential Information. However, before a required disclosure, the Asset
Representations Reviewer, if permitted by law, regulation, rule or order, will use its reasonable efforts to provide the Issuer and the Servicer with notice of the requirement and will cooperate, at the Servicer’s expense, in the Issuer’s
and the Servicer’s pursuit of a proper protective order or other relief for the disclosure of the Confidential Information. If the Issuer or the Servicer is unable to obtain a protective order or other proper remedy by the date that the
information is required to be 

  
 10 

 
disclosed, the Asset Representations Reviewer will disclose only that part of the Confidential Information that it is advised by its legal counsel it is legally required to disclose. 

(e)    Responsibility for Information Recipients. The Asset Representations Reviewer will be
responsible for a breach of this Section 4.9 by its Information Recipients. 

(f)    Violation. The Asset Representations Reviewer agrees that a violation of this Agreement may
cause irreparable injury to the Issuer and the Servicer, and the Issuer and the Servicer may seek injunctive relief in addition to legal remedies. If an action is initiated by the Issuer or the Servicer to enforce this
Section 4.9, the prevailing party will be entitled to reimbursement of costs and expenses, including reasonable attorney’s fees, incurred by it for the enforcement. 

Section 4.10.    Personally Identifiable Information. 

(a)    Definitions. “Personally Identifiable Information” or
“PII” means information in any format about an identifiable individual, including, name, address, phone number, e-mail address, account number(s), identification number(s), vehicle
identification number or “VIN”, any other actual or assigned attribute associated with or identifiable to an individual and any information that when used separately or in combination with other information could identify an individual.
“Issuer PII” means PII furnished by the Issuer, the Servicer or their Affiliates to the Asset Representations Reviewer and PII developed or otherwise collected or acquired by the Asset Representations Reviewer in performing its
obligations under this Agreement. 
 (b)    Use of Issuer PII. The Issuer does not grant the
Asset Representations Reviewer any rights to Issuer PII. The Asset Representations Reviewer will use Issuer PII only to perform its obligations under this Agreement or as specifically directed in writing by the Issuer and will only reproduce Issuer
PII to the extent necessary for these purposes. The Asset Representations Reviewer must comply with all laws applicable to PII, Issuer PII and the Asset Representations Reviewer’s business, including any legally required codes of conduct,
including those relating to privacy, security and data protection. The Asset Representations Reviewer will protect and secure Issuer PII. The Asset Representations Reviewer will implement privacy or data protection policies and procedures that
comply with applicable laws and regulations and this Agreement. The Asset Representations Reviewer will implement and maintain reasonable and appropriate practices, procedures and systems, including administrative, technical and physical safeguards
to (i) protect the security, confidentiality and integrity of Issuer PII, (ii) ensure against anticipated threats or hazards to the security or integrity of Issuer PII, (iii) protect against unauthorized access to or use of Issuer PII
and (iv) otherwise comply with its obligations under this Agreement. These safeguards include a written data security plan, employee training, information access controls, restricted disclosures, systems protections (e.g., intrusion protection,
data storage protection and data transmission protection) and physical security measures. 

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

  
 11 

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

(ii)    The Asset Representations Reviewer will not sell, disclose, provide or exchange
Issuer PII with or to any third party without the prior consent of the Issuer. 
 (d)    Notice of
Breach. The Asset Representations Reviewer will notify the Issuer promptly in the event of an actual or reasonably suspected security breach, unauthorized access, misappropriation or other compromise of the security, confidentiality or integrity
of Issuer PII and, where applicable, immediately take action to prevent any further breach. 

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

 (f)    Compliance; Modification. The Asset Representations Reviewer will cooperate with and
provide information to the Issuer regarding the Asset Representations Reviewer’s compliance with this Section 4.10. The Asset Representations Reviewer and the Issuer agree to modify this
Section 4.10 as necessary from time to time for either party to comply with applicable law. 

(g)    Audit of Asset Representations Reviewer. The Asset Representations Reviewer will permit the
Issuer and its authorized representatives to audit the Asset Representations Reviewer’s compliance with this Section 4.10 during the Asset Representations Reviewer’s normal business hours on reasonable advance
notice to the Asset Representations Reviewer, and not more than once during any year unless circumstances necessitate additional audits. The Issuer agrees to make reasonable efforts to schedule any audit described in this
Section 4.10(g) with the inspections described in Section 4.7. The Asset Representations Reviewer will also permit the Issuer and its authorized representatives during normal business hours on
reasonable advance written notice to audit any service providers used by the Asset Representations Reviewer to fulfill the Asset Representations Reviewer’s obligations under this Agreement. 

(h)    Affiliates and Third Parties. If the Asset Representations Reviewer processes the PII of the
Issuer’s Affiliates or a third party when performing an Asset Representations Review, 

  
 12 

 
and if such Affiliate or third party is identified to the Asset Representations Reviewer, such Affiliate or third party is an intended third-party beneficiary of this
Section 4.10, and this Agreement is intended to benefit the Affiliate or third party. The Affiliate or third party will be entitled to enforce the PII related terms of this Section 4.10 against the
Asset Representations Reviewer as if each were a signatory to this Agreement. 
 ARTICLE V 

RESIGNATION AND REMOVAL; 

SUCCESSOR ASSET REPRESENTATIONS REVIEWER 

Section 5.1.    Eligibility Requirements for Asset Representations Reviewer. The Asset
Representations Reviewer must be a Person who (a) is not Affiliated with the Sponsor, the Depositor, the Servicer, the Indenture Trustee, the Delaware Trustee, the Owner Trustee or any of their Affiliates and (b) was not, and is not
Affiliated with a Person that was, engaged by the Sponsor or any underwriter to perform any due diligence on the Receivables prior to the Closing Date. 

Section 5.2.    Resignation and Removal of Asset Representations Reviewer. 

(a)    No Resignation of Asset Representations Reviewer. The Asset Representations Reviewer will
not resign as Asset Representations Reviewer unless the Asset Representations Reviewer no longer meets the eligibility requirements in Section 5.1. The Asset Representations Reviewer will notify the Issuer and the Servicer
of its resignation as soon as practicable after it determines it is required to resign and stating the resignation date and including an Opinion of Counsel supporting its determination. 

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

(i)    the Asset Representations Reviewer no longer meets the eligibility requirements in
Section 5.1; 
 (ii)    the Asset Representations Reviewer
breaches of any of its representations, warranties, covenants or obligations in this Agreement; or 

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

(c)    Notice of Resignation or Removal. The Issuer will notify the Servicer and the Indenture
Trustee of any resignation or removal of the Asset Representations Reviewer. 
 (d)    Continue to
Perform After Resignation or Removal. No resignation or removal of the Asset Representations Reviewer will be effective, and the Asset Representations Reviewer will continue to perform its obligations under this Agreement, until a successor
Asset Representations Reviewer has accepted its engagement according to Section 5.3(b). 

  
 13 

 Section 5.3.    Successor Asset Representations
Reviewer. 
 (a)    Engagement of Successor Asset Representations Reviewer. Following the
resignation or removal of the Asset Representations Reviewer, the Issuer will appoint a successor Asset Representations Reviewer who meets the eligibility requirements of Section 5.1. 

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

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

Section 5.4.    Merger, Consolidation or Succession. Any Person (a) into which the Asset
Representations Reviewer is merged or consolidated, (b) resulting from any merger or consolidation to which the Asset Representations Reviewer is a party or (c) succeeding to the business of the Asset Representations Reviewer, if that
Person meets the eligibility requirements in Section 5.1, will be the successor to the Asset Representations Reviewer under this Agreement. Such Person will execute and deliver to the Issuer and the Servicer an agreement to assume the Asset
Representations Reviewer’s obligations under this Agreement (unless the assumption happens by operation of law). 
 ARTICLE VI 

OTHER AGREEMENTS 

Section 6.1.    Independence of Asset Representations Reviewer. The Asset Representations
Reviewer will be an independent contractor and will not be subject to the supervision of the Issuer, the Indenture Trustee, the Delaware Trustee or the Owner Trustee for the manner in which it accomplishes the performance of its obligations under
this Agreement. Unless authorized by the Issuer, the Indenture Trustee, the Delaware Trustee or the Owner Trustee, respectively, the Asset Representations Reviewer will have no authority to act for or represent the Issuer, the Indenture Trustee, the
Delaware Trustee or the Owner Trustee and will not be considered an agent of the Issuer, the Indenture Trustee, the Delaware Trustee or the Owner Trustee. Nothing in this Agreement will make the Asset Representations Reviewer and any of the Issuer,
the Indenture Trustee, the Delaware Trustee or the Owner Trustee members of 

  
 14 

 
any partnership, joint venture or other separate entity or impose any liability as such on any of them. 

Section 6.2.    No Petition. Each of the parties, by entering into this Agreement, agrees
that, before the date that is one year and one day (or, if longer, any applicable preference period) after payment in full of (a) all securities issued by the Depositor or by a trust for which the Depositor was a depositor (including, without
limitation, the Issuer) or (b) the Notes, it will not start or pursue against, or join any other Person in starting or pursuing against (i) the Depositor or (ii) the Issuer, respectively, any bankruptcy, reorganization, arrangement,
insolvency or liquidation proceedings or other proceedings under any bankruptcy or similar law. This Section 6.2 will survive the termination of this Agreement. 

Section 6.3.    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 The Bank of New York Mellon, not individually or personally but solely as Owner Trustee of the Issuer in the exercise of the powers and authority conferred and
vested in it under the Trust Agreement, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by The Bank of New York
Mellon, but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on The Bank of New York Mellon, 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) The Bank of New York Mellon 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 The Bank of New York Mellon be personally liable for the payment of any indebtedness or expenses of the
Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or the other related documents. For all purposes under this Agreement, the Owner Trustee will
be subject to, and entitled to the benefits of, the Trust Agreement. 

Section 6.4.    Termination of Agreement. This Agreement will terminate, except for the
obligations under Section 4.5 or as otherwise stated in this Agreement, on the earlier of (a) the payment in full of all outstanding Notes and the satisfaction and discharge of the Indenture and (b) the date the
Issuer is terminated under the Trust Agreement. 
 ARTICLE VII 

MISCELLANEOUS PROVISIONS 

Section 7.1.    Amendments. 

(a)    Any term or provision of this Agreement may be amended by the parties hereto, but without the
consent of the Seller, the Indenture Trustee, the Owner Trustee, the Delaware Trustee, any of the Noteholders or the Certificateholders or any other Person subject to one of the following conditions: 

  
 15 

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

(ii)    the Rating Agency Condition is satisfied with respect to such Amendment and the
Servicer notifies the Indenture Trustee in writing that the Rating Agency Condition is satisfied with respect to such amendment. 

(b)    This Agreement may also be amended from time to time by the parties hereto with the consent of
(i) the Holders of Notes evidencing not less than a majority of the Outstanding Note Balance, voting as a single class, and (ii) the Majority Certificateholders, for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders or the Certificateholders. It will not be necessary for the consent of the Noteholders or Certificateholders to approve the particular
form of any proposed amendment or consent, but it will be sufficient if the Noteholders and Certificateholders approve the substance thereof. The manner of obtaining such consents (and any other consents of the Noteholders and Certificateholders
provided for in this Agreement) and of evidencing the authorization of the execution thereof by the Noteholders will be subject to such reasonable requirements as the Indenture Trustee may prescribe, including the establishment of record dates
pursuant to the Note Depository Agreement. 
 (c)    Prior to the execution of any amendment pursuant to
this Section 7.1, the Servicer shall provide written notification of the substance of such amendment to each Rating Agency; and promptly after the execution of any such amendment, the Servicer shall furnish a copy of such
amendment to each Rating Agency and the Indenture Trustee; provided, that no amendment pursuant to this Section 7.1 shall be effective which materially and adversely affects the rights, protections or duties of the Delaware
Trustee, the Indenture Trustee or the Owner Trustee without the prior written consent of such Person. 

(d)    Prior to the execution of any amendment to this Agreement, the Delaware Trustee, the Owner Trustee
and the Indenture Trustee shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and an Officer’s Certificate from the Servicer or
the Administrator that all conditions precedent to the execution and delivery of such amendment have been satisfied. 

(e)    Notwithstanding subsections (a) or (b) of this Section 7.1, this
Agreement may only be amended by the parties hereto if (i) the Majority Certificateholders consent to such amendment or (ii) such amendment shall not, as evidenced by an Officer’s Certificate of the Servicer or an Opinion of Counsel
delivered to the Delaware Trustee, the Indenture Trustee and the Owner Trustee, materially and adversely affect the interests of the Certificateholders. It will not be necessary for the Certificateholders to approve the particular form of any
proposed amendment or consent, but it will be sufficient if the Certificateholders approve the substance thereof. The manner of obtaining such consents (and any other consents of the Certificateholders provided for in this Agreement) and of
evidencing the authorization of the execution thereof by 

  
 16 

 
the Certificateholders will be subject to such reasonable requirements as the Owner Trustee may prescribe. 

Section 7.2.    Assignment; Benefit of Agreement; Third Party Beneficiaries. 

(a)    Assignment. Except as stated in Section 5.4, this Agreement may
not be assigned by the Asset Representations Reviewer without the consent of the Servicer. 

(b)    Benefit of Agreement; Third-Party Beneficiaries. This Agreement is for the benefit of and
will be binding on the parties and their permitted successors and assigns. The Indenture Trustee, for the benefit of the Noteholders, the Delaware Trustee and the Owner Trustee will be a third-party beneficiaries of this Agreement and entitled to
enforce this Agreement against the Asset Representations Reviewer. No other Person will have any right or obligation under this Agreement except as set forth in Section 4.10(h). 

Section 7.3.    Notices. 

(a)    Delivery of Notices. All notices, requests, demands, consents, waivers or other
communications to or from the parties must be in writing and will be considered given: 

(i)      for overnight mail, on delivery or, for a letter mailed by registered
first class mail, postage prepaid, three days after deposit in the mail; 

(ii)     for a fax, when receipt is confirmed by telephone, reply email or reply fax
from the recipient; 
 (iii)    for an email, when receipt is confirmed by telephone or
reply email from the recipient; and 
 (iv)    for an electronic posting to a
password-protected website to which the recipient has access, on delivery (without the requirement of confirmation of receipt) of an email to that recipient stating that the electronic posting has occurred. 

(b)    Notice Addresses. Any notice, request, demand, consent, waiver or other communication will
be delivered or addressed to: (i) (a) in the case of the Servicer, to Fifth Third Bank, 38 Fountain Square Plaza, Cincinnati, Ohio 45263, (b) in the case of the Issuer or the Owner Trustee, to Fifth Third Auto Trust 2017-1, c/o The Bank of New York Mellon, 101 Barclay Street, Floor 7 West, New York, New York 10286, Attn: Asset Backed Securities Unit – Fifth Third Bank 2017-1, (c) in
the case of the Indenture Trustee, to Wilmington Trust, National Association, Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890, Attention: Fifth Third Auto Trust 2017-1, and
(d) in the case of the Asset Representations Reviewer, to Clayton Fixed Income Services LLC, 1700 Lincoln Street Suite 2600, Denver, CO 80203, Attention: SVP Surveillance, with a copy to Clayton Fixed Income Services LLC, 100 Beard Sawmill
Road, Suite 200, Shelton, CT 06484, Attention: General Counsel or, (ii) as to each party, at such other address or email as shall be designated by such party in a written notice to each other party. 

  
 17 

 Section 7.4.    Governing Law; Submission to
Jurisdiction; Waiver of Jury Trial. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER
SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 EACH OF THE PARTIES HERETO HEREBY SUBMITS TO THE EXCLUSIVE
JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND OF ANY NEW YORK STATE COURT SITTING IN NEW YORK CITY FOR PURPOSES OF ALL LEGAL PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY. EACH OF THE PARTIES HERETO HEREBY FURTHER IRREVOCABLY WAIVES ANY CLAIM THAT ANY SUCH COURTS LACK JURISDICTION OVER SUCH PARTY, AND AGREES NOT TO PLEAD OR CLAIM, IN ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT IN
ANY OF THE AFORESAID COURTS, THAT ANY SUCH COURT LACKS JURISDICTION OVER SUCH PARTY. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF
ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT AND ANY CLAIM THAT ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 

EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY
IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT. 

Section 7.5.    No Waiver; Remedies. No party’s failure or delay in exercising a power,
right or remedy under this Agreement will operate as a waiver. No single or partial exercise of a power, right or remedy will preclude any other or further exercise of the power, right or remedy or the exercise of any other power, right or remedy.
The powers, rights and remedies under this Agreement are in addition to any powers, rights and remedies under law. 

Section 7.6.    Severability. If a part of this Agreement is held invalid, illegal or
unenforceable, then it will be deemed severable from the remaining Agreement and will not affect the validity, legality or enforceability of the remaining Agreement. 

Section 7.7.    Headings. The headings in this Agreement are included for convenience and will
not affect the meaning or interpretation of this Agreement. 
 Section 7.8.    Counterparts.
This Agreement may be executed in multiple counterparts. Each counterpart will be an original and all counterparts will together be one document. 

[Remainder of Page Left Blank] 

  
 18 

 EXECUTED BY: 

 

			
	 FIFTH THIRD AUTO TRUST 2017-1,
as
Issuer

		
	 By:
	 	THE BANK OF NEW YORK MELLON, not in its individual capacity, but solely as Owner Trustee
		
	 By:  
	 	  

		 	 Name:

		 	 Title:

	
	 FIFTH THIRD BANK,
as Servicer

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 CLAYTON FIXED INCOME SERVICES LLC, as Asset Representations
Reviewer

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 [Signature Page to Asset Representations Review Agreement] 

 Schedule A 

Representations and Warranties, Review Materials and Tests 

Representations and Warranties 

(a) Characteristics of Receivables: As of the Cut-Off Date (or such other date as may be
specifically set forth below), each Receivable: (i) has been fully executed or electronically authenticated (as defined by the UCC) by the Obligor thereto; (ii) contains provisions that permit the repossession and sale of the Financed
Vehicle upon a default under the Receivable by the Obligor; (iii) provided, at origination, for level monthly payments which fully amortize the initial Outstanding Principal Balance over the original term; provided, that the amount of
the first or last payment may be different from the level payment but in no event more than three times the level monthly payment; (iv) was originated in the United States. 

Review Materials 

Retail Contract 
 Title
Documents 
 Tests 
  

					
	i.	    	 Execution and Authentication

		    	 A.
	 	 Confirm that the Contract lists Fifth Third as the assignee within the assignment section.

		    	 B.
	 	 Confirm that the Contract is signed by the Obligor(s).

	ii.	    	 Repossession

		    	 A.
	 	 Observe the Contract and confirm it contains provisions that permit the repossession and sale of the Financed Vehicle upon
a default under the Receivable by the Obligor.

	iii.	    	 Payment Schedule Structure

		    	 A.
	 	 Confirm all payments are equivalent with the possible exception of the first and last month’s payments which may
differ by no more than three times the amount of the level monthly payment.

		    	 B.
	 	 Confirm that the product of the Number of Payments and the Amount of Payments, together with any first and last
month’s payment (if applicable), equals the Total of Payments as stated within the Truth in Lending section of the Contract.

	iv.	    	 United States Origination

		    	 A.
	 	 Confirm the Contract reports a Dealer located in the United States.

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

 Representations and Warranties 

(b) Individual Characteristics: As of the Cut-Off Date (or such other date as may be
specifically set forth below), each Receivable has the following individual characteristics: (i) the Receivable is secured by a new or used automobile, light duty truck, van or other motor vehicle; (ii) the Receivable had an original term
to maturity of not more than 84 months and not less than 24 months and the Receivable has a remaining term to maturity of not less than 3 months; (iii) the Receivable has a scheduled maturity date on or before December 31, 2023; (iv) the
Receivable was not more than 30 days past due; (v) the Receivable was not noted in the records of the Servicer as being the subject of any pending bankruptcy or insolvency Proceeding; and (vi) the Receivable is a Simple Interest
Receivable. 
 Review Materials 

Retail Contract 
 Data File 

Tests 
  

					
	i.	    	 Financed Vehicle

		    	 A.
	 	 Review the Contract and confirm the Financed Vehicle is a new or used automobile, light-duty truck van or other motor
vehicle.

	ii.	    	 Original Term

		    	 A.
	 	 Review the Contract and confirm the Number of Payments (including first and last payments) does not exceed the maximum
allowable Contract Term or violate the minimum allowable Contract Term, excluding periods of deferral of first payment, as of the Cut-off Date.

		    	 B.
	 	 Review the Data File and confirm that the remaining term of the Contract is within the allowable limits of no more than 77
months and no less than 3 months as of the Cut-off Date.

	iii.	    	 Maturity Date

		    	 A.
	 	 Review the Data File and confirm that the Receivable has a Maturity on or before December 31, 2023.

	iv.	    	 Delinquency Status

		    	 A.
	 	 Review the Data File and confirm that the Receivable is not more than 30 days past due as of the Cut-off Date.

	v.	    	 Bankruptcy and Insolvency

		    	 A.
	 	 Verify through the Data File that no evidence is included that indicates the Receivable is the subject of a Bankruptcy or
insolvency proceeding.

	vi.	    	 Interest Method

		    	 A.
	 	 Confirm that the Receivable is amortized using the Simple Interest Method by reviewing the Contract.

	vii.	    	 If steps (i) through (vi) have been confirmed, then Test Pass.

 Representations and Warranties 

(c) Security Interest: The Receivable, is secured by a first priority perfected security interest in the Financed Vehicle in favor of
the Bank, as secured party, or all necessary actions have been commenced that would result in a first priority perfected security interest in the Financed Vehicle in favor of the Bank, as secured party, which security interest, in either case, is
assignable and has been so assigned (x) by the Bank to FTH LLC, (y) by FTH LLC to the Seller and (z) by the Seller to the Issuer. 

Review Materials 

Retail Contract 
 Title Documents

 Transaction Documents 

Tests 
  

					
	i.	    	 Confirm that the Title Documents report Fifth Third, or an acceptable variation of the name, as the first lien
holder, or that the appropriate application has been filed in the applicable state if the certificate of title is still pending.

	ii.	    	 Confirm the Obligor’s name, or an acceptable variation thereof, on the Contract matches the name on the
title documents.

	iii.	    	 Confirm the Vehicle Identification Number (VIN) on the Contract matches the VIN number on the title
documents.

	iv.	    	 Confirm that the security interest is assignable and has been assigned:

		    	 A.
	 	 By the Bank to FTH LLC,

		    	 B.
	 	 By FTH LLC to the Seller, and

		    	 C.
	 	 By the Seller to the Issuer.

	v.	    	 If steps (i) and (iv) are confirmed, then Test Pass.

 Representations and Warranties 

(d) Compliance With Law: The Receivable complied at the time it was originated or made, in all material respects with all requirements
of law in effect at that time and applicable to such Receivable. 
 Review Materials 

Retail Contract 
 List of
Approved Contract Forms 
 Bank Officer’s Certificate 

Certificate of Officer of Bank’s Law Department, as necessary 

Tests 
  

					
	i.	    	Observe the Contract and confirm the form number and revision date are on the List of Approved Contract Forms.
	ii.	    	Confirm a Payment Schedule is present and complete.
	iii.	    	Confirm there is an itemization of the Amount Financed.
	iv.	    	Confirm the following disclosures are included in the Contract:
		    	 A.
	 	 Prepayment disclosure

		    	 B.
	 	Late payment policy including the late charge amount (or calculation)
		    	 C.
	 	 Security Interest Disclosure

		    	 D.
	 	 Contract Reference

		    	 E.
	 	 Insurance Requirements

	v.	    	Request and review Bank officer’s certification regarding knowledge of an assertion in writing or a pending lawsuit by the applicable Obligor that the reason for delinquency is that his or her Receivable did not
comply with a requirement of law applicable to it at the time it was originated or made.
	vi.	    	In the event step (v) discloses an assertion or lawsuit, request and review a certificate of an officer in the Bank’s law department that the Bank believes that such claim is unlikely to succeed on the
merits.
	vii.	    	If (a) steps (i) through (iv) are confirmed and (b) step (v) discloses no claims or step (vi) is confirmed, then Test Pass.

 Representations and Warranties 

(e) Binding Obligation: The Receivable constitutes the legal and binding payment obligation in writing of the Obligor, enforceable in
all respects by the holder thereof in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, liquidation or other laws, equitable principles and consumer protection laws and the Servicemembers Civil
Relief Act, as amended, to the extent applicable to the related Obligor. 
 Review Materials 

Retail Contract 
 List of
Approved Contract Forms 
 Tests 
  

			
	i.	    	Confirm the Contract form number and revision date are on the List of Approved Contract Forms.
	ii.	    	Confirm the Obligor and Co-Obligor (if applicable) signed the Contract.
	iii.	    	If steps (i) and (ii) are confirmed, then Test Pass.

 Representations and Warranties 

(f) Receivables in Force: As of the Cut-Off Date, the Bank’s records related to the
Receivables do not indicate that any Receivable was satisfied, subordinated or rescinded or that the related Financed Vehicle was released from the lien granted by the Receivable in whole or in part. 

Review Materials 

Title Documents 
 Data File 

Tests 
  

			
	i.	    	 Confirm there is no indication within the Title Documents or the Data File that the Receivable was satisfied prior to the Cut-Off Date.

	ii.	    	 Confirm there is no indication within the Title Documents or the Data File that the Receivable was subordinated or
rescinded prior to the Cut-Off Date.

	iii.	    	 Confirm there is no indication within the Title Documents or the Data File that the Financed Vehicle has been released from
the Lien in whole or in part prior to the Cut-Off Date.

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

 Representations and Warranties 

(g) No Waiver: As of the Cut-Off Date, no provision of a Receivable has been expressly waived
in writing in any material respect, except by instruments or documents identified in the related Receivable File. 
 Review Materials

 Data File 
 Retail
Contract 
 System Screenprint 

Modification Agreement 

Tests 
  

			
	i.	    	 Confirm the data file and/or Receivable File show no indication of modifications, waivers or amendments to the terms of the
Receivable.

	ii.	    	 If the data file and/or Receivable File indicate a modification, waiver or amendment is present, confirm the Receivable
File contains supporting documentation detailing the terms of the modification.

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

 Representations and Warranties 

(h) No Default: Except for payment delinquencies continuing for a period of not more than 30 days as of the Cut-Off Date, the records of the Servicer did not disclose any payment defaults under the terms of the Receivable existed as of the Cut-Off Date. 

Review Materials 

Data File 
 Tests

  

			
	i.	    	 Observe the Data File and confirm the Receivable was not more than 30 days delinquent as of the Cut-off Date.

	ii.	    	 If step (i) is confirmed, then Test Pass.

 Representations and Warranties 

(i) Insurance: Under the terms of the Receivable, the Obligor is required to maintain physical damage insurance covering the related
Financed Vehicle. 
 Review Materials 

Retail Contract 
 Tests

  

			
	i.	    	Confirm the Contract contains language that requires the Obligor to obtain and maintain physical damage insurance covering the Finance Vehicle.
	ii.	    	If step (i) is confirmed, then Test Pass

 Representations and Warranties 

(j) No Government Obligor: The Obligor on each Receivable is not listed on the Bank’s electronic records as the United States of
America or any state thereof or any local government, or any agency, department, political subdivision or instrumentality of the United States of America or any state thereof or any local government. 

Review Materials 

Retail Contract 
 Tests

  

			
	i.	    	Confirm the Buyer section of the Contract includes the name of a natural person.
	ii.	    	If the Buyer section on the Contract does not report a natural person’s name, confirm internet search results show no indication the Buyer is the United States of America or any State, or any agency, department or
instrumentality of the United States of America or any State.
	iii.	    	If step (i) or (ii) is confirmed, then Test Pass.

 Representations and Warranties 

(k) Good Title: As of the Closing Date, and immediately prior to the sale and transfer herein contemplated, the Bank had good and
marketable title to each Receivable free and clear of all Liens (except Permitted Liens and any Lien which will be released prior to the sale and transfer of such Receivable to FTH LLC), and, immediately upon the sale and transfer thereof to FTH
LLC, FTH LLC will have good and marketable title to each Receivable, free and clear of all Liens (other than Permitted Liens). 

Review Materials 

Retail Contract 
 Title Documents

 Tests 
  

			
	i.	    	Review the Contract and confirm that the Bank, or an acceptable variation of its name, is listed as the assignee.
	ii.	    	Observe the Title Documents and confirm they report the Bank, or an accepted variation of its name, as the first lien holder.
	iii.	    	If steps (i) through (ii) are confirmed, then Test Pass

 Representations and Warranties 

(l) One Original: There is only one authenticated original or authoritative copy of the Contract (in each case within the meaning of
the UCC) related to each Receivable. 
 Review Materials 

Retail Contract 
 Tests

  

			
	i.	    	Confirm there is a signature of the appropriate Obligor(s) on the Contract.
	ii.	    	If the Contract constitutes an electronically authenticated original, then confirm the Contract is marked “Authoritative Copy”.
	iii.	    	If steps (i) and (ii) are confirmed, then Test Pass.

 Representations and Warranties 

(m) No Defenses: The Bank’s electronic records related to the Receivables do not reflect any right of rescission, setoff,
counterclaim or defense, or of the same being asserted or threatened, with respect to any Receivable. 
 Review Materials 

Data File 
 Tests

  

			
	i.	    	Review the Data File and confirm there is no evidence of litigation or other attorney involvement as of the Cut-off Date.
	ii.	    	If step (i) is confirmed, then Test Pass.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00274-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00274-of-00352.parquet"}]]