Document:

Sale and Servicing Agreement

 Exhibit 4.1 
  

 
  

SALE AND SERVICING AGREEMENT 
 among 
 WORLD OMNI AUTO RECEIVABLES TRUST 2013-A 

Issuing Entity, 

WORLD OMNI AUTO RECEIVABLES LLC, 
 Depositor, 
 and 

WORLD OMNI FINANCIAL CORP., 
 Servicer 
 Series 2013-A 

Dated as of May 29, 2013 
  

 
  

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 ARTICLE I DEFINITIONS
	  	 	1	  
	 Section 1.01 Definitions
	  	 	1	  
		
	 ARTICLE II CONVEYANCE OF RECEIVABLES
	  	 	1	  
	 Section 2.01 Conveyance of Initial Receivables
	  	 	1	  
	 Section 2.02 Intention of Parties
	  	 	2	  
	 Section 2.03 Conveyance of Subsequent Receivables
	  	 	3	  
		
	 ARTICLE III THE RECEIVABLES
	  	 	5	  
	 Section 3.01 Representations and Warranties of World Omni with Respect to the Receivables
	  	 	5	  
	 Section 3.02 Repurchase upon Breach
	  	 	9	  
	 Section 3.03 Custody of Receivable Files
	  	 	9	  
	 Section 3.04 Duties of Servicer as Custodian
	  	 	10	  
	 Section 3.05 Instructions; Authority To Act
	  	 	10	  
	 Section 3.06 Custodian’s Indemnification
	  	 	10	  
	 Section 3.07 Effective Period and Termination
	  	 	11	  
		
	 ARTICLE IV ADMINISTRATION AND SERVICING OF RECEIVABLES
	  	 	11	  
	 Section 4.01 Duties of Servicer
	  	 	11	  
	 Section 4.02 Collection and Allocation of Receivable Payments
	  	 	12	  
	 Section 4.03 Realization upon Receivables
	  	 	12	  
	 Section 4.04 Physical Damage Insurance
	  	 	12	  
	 Section 4.05 Maintenance of Security Interests in Financed Vehicles
	  	 	13	  
	 Section 4.06 Covenants of Servicer
	  	 	13	  
	 Section 4.07 Purchase of Receivables upon Breach
	  	 	13	  
	 Section 4.08 Servicing Fee
	  	 	13	  
	 Section 4.09 Servicer’s Certificate
	  	 	14	  
	 Section 4.10 Annual Statement as to Compliance; Item 1122 Servicing Criteria Assessment; Notice of Default
	  	 	14	  
	 Section 4.11 Annual Independent Certified Public Accountants’ Report
	  	 	15	  
	 Section 4.12 Access to Certain Documentation and Information Regarding Receivables
	  	 	15	  
	 Section 4.13 Servicer Expenses
	  	 	15	  
	 Section 4.14 Appointment of Subservicer
	  	 	15	  
	 Section 4.15 [Reserved]
	  	 	15	  
	 Section 4.16 Exchange Act Certifications
	  	 	16	  
		
	 ARTICLE V TRUST ACCOUNTS; DISTRIBUTIONS; STATEMENTS TO CERTIFICATEHOLDERS AND

NOTEHOLDERS
	  	 	16	  
	 Section 5.01 Establishment of Trust Accounts
	  	 	16	  
	 Section 5.02 Collections
	  	 	20	  
	 Section 5.03 Application of Collections
	  	 	20	  

  
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	 Section 5.04 Advances
	  	 	20	  
	 Section 5.05 Additional Deposits
	  	 	20	  
	 Section 5.06 Distributions
	  	 	20	  
	 Section 5.07 Reserve Account
	  	 	22	  
	 Section 5.08 Statements to Noteholders and Certificateholders
	  	 	23	  
	 Section 5.09 Net Deposits
	  	 	25	  
	 Section 5.10 Transfer of Certificates
	  	 	25	  
		
	 ARTICLE VI THE DEPOSITOR
	  	 	25	  
	 Section 6.01 Representations of Depositor
	  	 	25	  
	 Section 6.02 Limited Liability Company Existence
	  	 	27	  
	 Section 6.03 Liability of Depositor; Indemnities
	  	 	28	  
	 Section 6.04 Merger or Consolidation of, or Assumption of Obligations of Depositor
	  	 	29	  
	 Section 6.05 Limitation on Liability of Depositor and Others
	  	 	29	  
	 Section 6.06 Depositor May Own Notes
	  	 	30	  
	 Section 6.07 Security Interest
	  	 	30	  
		
	 ARTICLE VII THE SERVICER
	  	 	30	  
	 Section 7.01 Representations of Servicer
	  	 	30	  
	 Section 7.02 Indemnities of Servicer
	  	 	31	  
	 Section 7.03 Merger or Consolidation of, or Assumption of Obligations of, Servicer
	  	 	32	  
	 Section 7.04 Limitation on Liability of Servicer and Others
	  	 	33	  
	 Section 7.05 World Omni Not To Resign as Servicer
	  	 	33	  
		
	 ARTICLE VIII DEFAULT
	  	 	33	  
	 Section 8.01 Servicer Default
	  	 	33	  
	 Section 8.02 Appointment of Successor
	  	 	35	  
	 Section 8.03 Notification to Noteholders and Certificateholders
	  	 	35	  
	 Section 8.04 Waiver of Past Defaults
	  	 	36	  
	 Section 8.05 Payment of Servicing Fees; Repayment of Advances
	  	 	36	  
		
	 ARTICLE IX TERMINATION
	  	 	36	  
	 Section 9.01 Optional Purchase of All Receivables
	  	 	36	  
		
	 ARTICLE X MISCELLANEOUS
	  	 	37	  
	 Section 10.01 Amendment
	  	 	37	  
	 Section 10.02 Protection of Title to Trust
	  	 	38	  
	 Section 10.03 Notices
	  	 	40	  
	 Section 10.04 Assignment by the Depositor or the Servicer
	  	 	40	  
	 Section 10.05 Limitations on Rights of Others
	  	 	40	  
	 Section 10.06 Severability
	  	 	40	  
	 Section 10.07 Separate Counterparts
	  	 	40	  
	 Section 10.08 Headings
	  	 	41	  
	 Section 10.09 Governing Law
	  	 	41	  
	 Section 10.10 Assignment by Issuing Entity
	  	 	41	  

  
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	 Section 10.11 Nonpetition Covenants
	  	 	41	  
	 Section 10.12 Limitation of Liability of Owner Trustee and Indenture Trustee
	  	 	42	  
	 Section 10.13 Regulation AB
	  	 	42	  
	 Section 10.14 Notices to the Rating Agencies
	  	 	43	  

  

			
	SCHEDULE A	 	Schedule of Receivables
	SCHEDULE B	 	Location of Receivable Files
	EXHIBIT A	 	Form of Distribution Statement to Noteholders
	EXHIBIT B	 	Form of Servicer’s Certificate
	EXHIBIT C	 	Form of Initial SSA Assignment
	EXHIBIT D	 	Form of Subsequent Transfer SSA Assignment
	APPENDIX A	 	Definitions and Rules of Construction
	APPENDIX B	 	Additional Representations and Warranties

  
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 SALE AND SERVICING AGREEMENT 

This SALE AND SERVICING AGREEMENT is dated as of May 29, 2013, among WORLD OMNI AUTO RECEIVABLES TRUST 2013-A, a Delaware statutory
trust, WORLD OMNI AUTO RECEIVABLES LLC, a Delaware limited liability company, as depositor, and WORLD OMNI FINANCIAL CORP., a Florida corporation. 
 WHEREAS, World Omni Financial Corp. has sold the Initial Receivables, and has agreed to sell Subsequent Receivables, if any, to World Omni Auto Receivables LLC pursuant to the Receivables Purchase
Agreement; 
 WHEREAS, World Omni Auto Receivables LLC, as depositor, desires to sell the Initial Receivables and Subsequent
Receivables, if any, to the Issuing Entity and the Issuing Entity desires to purchase such receivables; and 
 WHEREAS, the
Servicer is willing to service, to make representations and warranties and to make certain repurchase representations with respect to such Receivables; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties hereto agree as follows: 
 ARTICLE I 
 DEFINITIONS 

Section 1.01 Definitions. Certain capitalized terms used in the above recitals and in this Agreement are defined in and shall
have the respective meanings assigned them in Part I of Appendix A to this Agreement. All references herein to “the Agreement” or “this Agreement” are to this Sale and Servicing Agreement as it may be
amended, supplemented (whether by Subsequent Transfer SSA Assignment, if any, or otherwise) or modified from time to time, the exhibits hereto and the capitalized terms used herein which are defined in such Appendix A, and all references
herein to Articles, Sections and subsections are to Articles, Sections or subsections of this Agreement unless otherwise specified. The rules of construction set forth in Part II of such Appendix A shall be applicable to this
Agreement. 
 ARTICLE II 
 CONVEYANCE OF RECEIVABLES 
 Section 2.01 Conveyance of Initial
Receivables. In consideration of the Issuing Entity’s delivery to or upon the order of the Depositor of the Notes and the Certificates, on the Closing Date the Depositor does hereby sell, transfer, assign, set over and otherwise convey to
the Issuing Entity, without recourse (subject to the obligations of the Depositor set forth herein), pursuant to an assignment in the form attached hereto as Exhibit C (the “Initial SSA Assignment”) all right, title and
interest of the Depositor, whether now or hereafter acquired, and wherever located, in and to the following: 

 (a) the Initial Receivables identified in the Schedule of Receivables to the Initial SSA
Assignment delivered to the Issuing Entity (all of which are identified in World Omni’s computer files by a code indicating the Initial Receivables are owned by the Trust and pledged to the Indenture Trustee) and all monies received thereon and
in respect thereof after the Initial Cutoff Date; 
 (b) the security interests in, and the liens on, the Financed Vehicles
granted by Obligors in connection with the Initial Receivables and any other interest of the Depositor in such Financed Vehicles; 
 (c) any proceeds with respect to the Initial Receivables from claims on any physical damage, credit life or disability insurance policies covering such Financed Vehicles or Obligors; 

(d) any Financed Vehicle that shall have secured an Initial Receivable and shall have been acquired by or on behalf of the Depositor, the
Servicer or the Trust; 
 (e) all funds on deposit in, and “financial assets” (as such term is defined in the Uniform
Commercial Code as from time to time in effect) credited to, the Trust Accounts, including the Reserve Account, the Negative Carry Account, if any, and the Pre-Funding Account, if any, from time to time, including the Reserve Account Initial
Deposit, any Reserve Account Subsequent Transfer Deposit, the Negative Carry Account Initial Deposit, if any, and the Pre-Funding Account Initial Deposit, if any, and in all investments and proceeds thereof (including all income thereon);

 (f) the Receivables Purchase Agreement; 
 (g) all “accounts,” “chattel paper,” “general intangibles” and “promissory notes” (as such terms are defined in the Uniform Commercial Code as from time to time in
effect) constituting or relating to the foregoing; and 
 (h) the proceeds of any and all of the foregoing (including
Liquidation Proceeds); provided, however, that the foregoing items (a) through (h) shall not include the Notes and Certificates. 
 Section 2.02 Intention of Parties. It is the intention of the Depositor and the Issuing Entity that the assignment and transfer contemplated herein constitute (and shall be construed and
treated for all purposes, other than for tax purposes, as) a true and complete sale of the Initial Receivables and the other property of the Depositor specified in Section 2.01 hereof, conveying good title thereto free and clear of any
liens and encumbrances, from the Depositor to the Issuing Entity. However, in the event that such conveyance is deemed to be a pledge to secure a loan (in spite of the express intent of the parties hereto that this conveyance constitutes, and shall
be construed and treated for all purposes, other than for tax purposes, as a true and complete sale), the Depositor hereby grants to the Issuing Entity, for the benefit of the Noteholders, a first priority perfected security interest in all of the
Depositor’s right, title and interest in, to and under the Initial Receivables and the other property of the Depositor specified in Section 2.01 hereof whether now existing or hereafter created and all proceeds of the foregoing to
secure the loan deemed to be made in connection with such pledge and, in such event, this Agreement shall constitute a security agreement under applicable law. 

  
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 Section 2.03 Conveyance of Subsequent Receivables. 

(a) If there is a Funding Period, subject to satisfaction of the conditions set forth in Section 2.03(b) below, in
consideration of the Issuing Entity’s delivery on the related Subsequent Transfer Date, if any, to or upon the order of the Depositor of the amount described in Section 5.01(d) to be delivered to the Depositor and the increase in
the value of the Certificates as a result of such sale, the Depositor does hereby agree to sell, transfer, assign, set over and otherwise convey to the Issuing Entity, without recourse (except as provided in Section 3.02), pursuant to an
assignment in substantially the form of Exhibit D (a “Subsequent Transfer SSA Assignment”), all right, title and interest of the Depositor in, to and under: 

 

	 	(i)	the Subsequent Receivables identified in the Subsequent Transfer SSA Assignment (all of which are identified in World Omni’s computer files by a code indicating
such Subsequent Receivables are owned by the Trust and pledged to the Indenture Trustee) and all monies received thereon and in respect thereof after the related Subsequent Cutoff Date; 

 

	 	(ii)	the security interests in, and the liens on, the Financed Vehicles granted by Obligors in connection with the Subsequent Receivables and any other interest of the
Depositor in the Financed Vehicles; 

  

	 	(iii)	any proceeds with respect to the Subsequent Receivables from claims on any physical damage, credit life or disability insurance policies covering the Financed Vehicles
or Obligors; 

  

	 	(iv)	any Financed Vehicle that shall have secured a Subsequent Receivable and shall have been acquired by or on behalf of the Depositor, the Servicer or the Trust;

  

	 	(v)	all “accounts,” “chattel paper,” “general intangibles” and “promissory notes” (as such terms are defined in the Uniform
Commercial Code as from time to time in effect) constituting or relating to the foregoing; and 

  

	 	(vi)	the proceeds of any and all of the foregoing (including Liquidation Proceeds); provided, however, that the foregoing items (i) through
(vi) shall not include the Notes and Certificates. 

 It is the intention of the Depositor and the Issuing Entity that
the assignment and transfer contemplated by this Section 2.03 constitute (and shall be construed and treated for all purposes, other than for tax purposes, as) a true and complete sale of such Subsequent Receivables, if any, and the
other property of the Depositor specified in Section 2.03(a) hereof, conveying good title thereto free and clear of any liens and encumbrances, from the Depositor to the Issuing Entity. However, in the event that such conveyance is
deemed to be a pledge to secure a loan (in spite of the express intent of the parties hereto that this conveyance constitutes, and shall be construed and treated for all purposes, other than for tax purposes, as a true and complete sale), the

  
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Depositor hereby grants to the Issuing Entity, for the benefit of the Noteholders, a first priority perfected security interest in all of the Depositor’s right, title and interest in, to and
under the Subsequent Receivables, if any, and the other property of the Depositor specified in Section 2.03(a) hereof whether now existing or hereafter created and all proceeds of the foregoing to secure the loan deemed to be made in
connection with such pledge and, in such event, this Agreement shall constitute a security agreement under applicable law. 

(b) If there is a Funding Period, the Depositor shall transfer to the Issuing Entity Subsequent Receivables and the other property and
rights related thereto described in Section 2.03(a) above only upon the satisfaction of each of the following conditions precedent on or prior to the related Subsequent Transfer Date: 

 

	 	(i)	the Funding Period shall not have terminated; 

  

	 	(ii)	each of the representations and warranties made by the Depositor pursuant to Section 3.01 with respect to such Subsequent Receivables shall be true and
correct as of the related Subsequent Transfer Date with the same effect as if then made, and the Depositor shall have performed all obligations to be performed by it hereunder on or prior to such Subsequent Transfer Date; 

 

	 	(iii)	the Depositor shall have delivered to the Owner Trustee and the Indenture Trustee a duly executed Subsequent Transfer SSA Assignment, including the Schedule of
Receivables (which schedule shall be deemed to supplement the existing Schedule of Receivables in effect at such time); 

  

	 	(iv)	the applicable Reserve Account Subsequent Transfer Deposit for such Subsequent Transfer Date shall have been deposited in the Reserve Account pursuant to
Section 5.01(d); 

  

	 	(v)	the Depositor shall, at its own expense, on or prior to each Subsequent Transfer Date, indicate in its computer files that the Subsequent Receivables conveyed on such
date have been sold to the Issuing Entity pursuant to this Agreement and the related Subsequent Transfer SSA Assignment; 

  

	 	(vi)	the Depositor shall have taken any action required to maintain the first priority perfected ownership interest of the Issuing Entity in the Owner Trust Estate and the
first priority perfected security interest of the Indenture Trustee in the Collateral; 

  

	 	(vii)	 the Receivables in the Trust (after giving effect to the conveyance of the Subsequent Receivables to the Trust on such Subsequent Transfer Date) shall
meet the following criteria: (A) the weighted average Annual Percentage Rate of the Receivables in the Trust shall not be less than [RESERVED]%, (B) not less than [RESERVED]% of the Aggregate Starting Principal Balance of the Receivables
shall represent financings of new Financed Vehicles, (C) no Subsequent Receivable shall have a 

  
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remaining term in excess of [RESERVED] months, (D) the weighted average original term to maturity of the Receivables in the Trust shall not be greater than [RESERVED] months, (E) not
less than [RESERVED]% of Aggregate Starting Principal Balance of the Receivables shall represent financings of Toyota vehicles, (F) the weighted average FICO score of the Receivables in the Trust shall not be less than [RESERVED] and
(G) such other criteria as may be required by the Rating Agencies; 

  

	 	(viii)	the Depositor shall have delivered to the Indenture Trustee and the Owner Trustee an Officers’ Certificate confirming the satisfaction of the conditions specified
in this Section 2.03(b); and 

  

	 	(ix)	the Depositor shall have delivered to the Trust, the Indenture Trustee and the Rating Agencies an Opinion of Counsel with respect to the transfer of such Subsequent
Receivables substantially in the form of the Opinion of Counsel delivered to the Rating Agencies on the Closing Date. 

 (c) If there is a Funding Period, the Depositor covenants to transfer to the Issuing Entity pursuant to Section 2.03(a) before the termination of the Funding Period Subsequent Receivables with
an aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount for such Subsequent Receivables as of the related Subsequent Cutoff Date equal to approximately the result of the Pre-Funding Account Initial Deposit
divided by [RESERVED]% to the extent such Receivables were transferred to the Depositor under the Receivables Purchase Agreement. 
 ARTICLE III 
 THE RECEIVABLES 

Section 3.01 Representations and Warranties of World Omni with Respect to the Receivables. On the Closing Date and each
Subsequent Transfer Date, if any, World Omni, which sold the Receivables specified in the related SSA Assignment on such date, hereby makes the representations and warranties set forth in Appendix B hereto and hereby represents and warrants
to the other parties hereto and to the Noteholders, with respect to such Receivables as of the applicable Cutoff Date: 
 (a)
Characteristics of Receivables. Each Receivable (1) (A) was originated in the United States of America by a Dealer for the retail sale of a Financed Vehicle in the ordinary course of such Dealer’s business, was fully and
properly executed by the parties thereto, was purchased by World Omni from such Dealer under an existing dealer agreement, (B) was originated by World Omni, or (C) was originated by an independent third party and acquired by World Omni,
(2) contains customary and enforceable provisions such that the rights and remedies of the holder thereof are adequate for realization against the collateral of the benefits of the security, and (3) provides for level monthly payments
(provided, that the payment in the first or last month in the life of the Receivable may be minimally different from the level payments and that certain of the Receivables did not require a payment to be made for up to six months from the
date of execution of the contract) that fully amortize the Amount Financed by maturity and yield interest at the Annual Percentage Rate. 

  
 5 

 (b) Schedule of Receivables. The information set forth in the Schedule of Receivables
is true and correct in all material respects as of the close of business on the applicable Cutoff Date, and no selection procedures believed by World Omni to be adverse to the Noteholders were utilized in selecting the Receivables. The computer tape
or other listing regarding the Receivables made available to the Issuing Entity and its assigns (which computer tape or other listing is required to be delivered as specified herein) is true and correct in all material respects. 

(c) Compliance with Law. To the best of World Omni’s knowledge, each Receivable, the sale of the Financed Vehicle and the
sale of any related insurance policies thereon financed by the Receivables complied at the time it was originated or made and, at the execution of this Agreement, complies in all material respects with all requirements of applicable federal, state
and local laws and regulations thereunder, including usury laws, the federal Truth-in-Lending Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Federal Trade Commission Act, the
Magnuson-Moss Warranty Act, the Federal Reserve Board’s Regulations B and Z, and State adaptations of the National Consumer Act and of the Uniform Consumer Credit Code, and other consumer credit laws and equal credit opportunity and disclosure
laws. 
 (d) Binding Obligation. Each Receivable represents the genuine, legal, valid and binding payment obligation in
writing of the Obligor, enforceable by the holder thereof in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws, now or hereafter in effect,
affecting the enforcement of creditors’ rights in general, and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity). 

(e) No Government Obligor. None of the Receivables are due from the United States of America or any State or from any agency,
department or instrumentality of the United States of America or any State. 
 (f) Security Interest in Financed Vehicle.
Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority security interest in the Financed Vehicle in favor of World Omni as secured party or all necessary and appropriate
actions have been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of the Depositor as secured party and is assignable by World Omni to the Depositor, by the Depositor to the
Issuing Entity and by the Issuing Entity to the Indenture Trustee. 
 (g) Receivables in Force. No Receivable has been
satisfied, subordinated or rescinded, nor has any Financed Vehicle been released from the lien granted by the related Receivable in whole or in part. 
 (h) No Amendments. No Receivable has been amended such that the amount of the Obligor’s scheduled payments has been increased. 

  
 6 

 (i) No Waiver. No provision of a Receivable has been waived, other than a
discretionary waiver of a late payment charge or any other fees that may be collected in the ordinary course of servicing a Receivable or in connection with any extension which is reflected in the Servicer’s computer system. 

(j) No Defenses. No right of rescission, setoff, counterclaim or defense has been asserted or, to World Omni’s knowledge,
threatened with respect to any Receivable. 
 (k) No Liens. To the best of World Omni’s knowledge, no liens or
claims have been filed for work, labor or materials relating to a Financed Vehicle that are liens prior to, or equal to or coordinate with, the security interest in the Financed Vehicle granted by any Receivable. 

(l) No Default. No Receivable has a payment for which $40 or more is more than 30 days overdue as of the applicable Cutoff Date,
and, except as permitted in this paragraph, to the best of World Omni’s knowledge, no default, breach, violation or event permitting acceleration under the terms of any Receivable has occurred and no continuing condition that with notice or the
lapse of time would constitute a default, breach, violation or event permitting acceleration under the terms of any Receivable has arisen; and World Omni has not waived and, except as permitted hereby, shall not waive any of the foregoing.

 (m) Insurance. World Omni, in accordance with its customary servicing procedures, has determined that, at the
origination of the Receivable, the Obligor had obtained physical damage insurance covering the Financed Vehicle. Under the terms of the Receivable the Obligor is required to maintain physical damage insurance covering the Financed Vehicle and having
World Omni named as the loss payee. 
 (n) Title. It is the intention of World Omni that the transfer and assignment
contemplated in the Receivables Purchase Agreement constitute a sale of the Receivables from World Omni to World Omni Auto Receivables LLC and that the beneficial interest in and title to the Receivables not be part of the debtor’s estate in
the event of the filing of a bankruptcy petition by or against World Omni under any bankruptcy law. No Receivable has been sold, transferred, assigned or pledged by World Omni to any Person other than the Depositor. Immediately prior to the transfer
and assignment contemplated in the Receivables Purchase Agreement, World Omni had good and marketable title to each Receivable free and clear of all Liens, encumbrances, security interests and rights of others and, immediately upon the transfer
thereof, the Depositor shall have good and marketable title to each Receivable, free and clear of all Liens, encumbrances, security interests and rights of others; and the transfer has been perfected under the UCC except, in each case, for liens and
encumbrances that will be released concurrent with the transfer of Receivables pursuant to the Receivables Purchase Agreement. It is the intention of the Depositor that the transfer and assignment herein contemplated constitute a sale of the
Receivables from the Depositor to the Issuing Entity and that the beneficial interest in and title to the Receivables not be part of the debtor’s estate in the event of the filing of a bankruptcy petition by or against the Depositor under any
bankruptcy law. No Receivable has been sold, transferred, assigned or pledged by the Depositor to any Person other than the Issuing Entity. Immediately prior to the transfer and assignment herein contemplated, the Depositor had good and marketable
title to each Receivable free and clear of all Liens, encumbrances, security 

  
 7 

 
interests and rights of others and, immediately upon the transfer thereof, the Issuing Entity shall have good and marketable title to each Receivable, free and clear of all Liens, encumbrances,
security interests and rights of others; and the transfer has been perfected under the UCC. 
 (o) Lawful Assignment. No
Receivable has been originated in, or is subject to the laws of, any jurisdiction under which the sale, transfer and assignment of such Receivable under this Agreement or the Indenture is unlawful, void or voidable. 

(p) All Filings Made. All filings (including UCC filings) necessary in any jurisdiction to give the Issuing Entity a first
perfected ownership interest in the Receivables, and to give the Indenture Trustee a first perfected security interest therein, shall have been made. 
 (q) One Original. There is only one executed original of each Receivable. 

(r) Maturity of Receivables. In the case of Initial Receivables, each such Receivable has a final maturity date not later than
August 28, 2019. In the case of Subsequent Receivables, if any, each such Receivable has a final maturity date not later than [RESERVED]. 
 (s) Scheduled Payments. As of the Initial Cutoff Date, each Receivable being purchased on the Closing Date had a first scheduled due date on or prior to the end of the third month immediately
following such Initial Cutoff Date. As of the applicable Subsequent Cutoff Date, if any, each Subsequent Receivable being purchased during the Funding Period had or will have a first scheduled due date on or prior to the end of the third month
immediately following the applicable Subsequent Cutoff Date. 
 (t) Location of Receivable Files. The Receivable Files
are, and will be, kept at the locations listed in Schedule B or at such other office or location as shall be specified to the Issuing Entity and the Indenture Trustee by written notice prior to any change in location together with the Opinion
of Counsel required by Section 10.02(j). 
 (u) Outstanding Principal Balance. Each Receivable has an
outstanding principal balance of at least $500. 
 (v) No Bankruptcies. No Obligor on any Receivable was noted in the
Servicer’s computer system as having filed for bankruptcy. 
 (w) No Repossessions. No Receivable was secured by a
Financed Vehicle that had been repossessed without reinstatement of the related contract. 
 (x) Chattel Paper. Each
Receivable constitutes “tangible chattel paper” as defined in the UCC. 
 (y) Computer Records. World Omni and
the Depositor will cause their accounting and computer records to be marked to indicate the sale and assignment of the Receivables from World Omni to the Depositor and from the Depositor to the Trust. 

  
 8 

 (z) Code. Each of the Receivables is identified on World Omni’s computer files
by a code indicating the Receivables are owned by the Trust and pledged to the Indenture Trustee. The Receivables are the only Contracts listed on the Schedule of Receivables, are the only Contracts identified on World Omni’s computer files by
such code, and are not identified on World Omni’s computer files by any other code. 
 (aa) Prepayment. Each
Receivable provides that a prepayment by the related Obligor will fully pay the principal balance and accrued interest through the date of prepayment based on such Receivable’s Annual Percentage Rate. 

Section 3.02 Repurchase upon Breach. The Depositor, the Servicer or the Owner Trustee (on behalf of the Trust), as the case
may be, shall inform the other parties to this Agreement and the Indenture Trustee promptly, in writing, upon the discovery of any breach of World Omni’s representations and warranties made pursuant to Section 3.01. Unless any such
breach shall have been cured by the last day of the second Collection Period following the discovery thereof by the Owner Trustee or receipt by the Owner Trustee of written notice from the Depositor or the Servicer of such breach, World Omni shall
be obligated to repurchase any Receivable materially and adversely affected by any such breach as of such last day (or, at World Omni’s option, the last day of the first Collection Period following the discovery) and World Omni shall deliver a
revised Schedule of Receivables to the Depositor and the Trust which shall reflect the repurchase of such Receivables). In consideration of the repurchase of any such Receivable, World Omni shall remit the Purchase Amount, in the manner specified in
Section 5.05. Subject to the provisions of Section 6.03, the sole remedy of the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Noteholders or the Certificateholders with respect to a breach of representations
and warranties pursuant to Section 3.01 and the agreement contained in this Section shall be to require World Omni to repurchase Receivables pursuant to this Section, subject to the conditions contained herein. 

Section 3.03 Custody of Receivable Files. To assure uniform quality in servicing the Receivables and to reduce administrative
costs, the Issuing Entity hereby revocably appoints the Servicer, and the Servicer hereby accepts such appointment, to act for the benefit of the Issuing Entity and the Indenture Trustee as custodian of the following documents or instruments which
are hereby or will hereby be constructively delivered to the Indenture Trustee, as pledgee of the Issuing Entity, as of the Closing Date with respect to each Initial Receivable and as of the Subsequent Transfer Date with respect to each Subsequent
Receivable, if any: 
 (a) the fully executed original Contract of such Receivable; 

(b) the credit application fully executed by the Obligor or such other information as the Servicer may keep on file in accordance with
its customary servicing procedures; 
 (c) the original certificate of title or such documents that the Servicer or the
Depositor shall keep on file, in accordance with its customary procedures, evidencing the security interest of World Omni in the Financed Vehicle; and 

  
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 (d) any and all other documents that the Servicer or the Depositor shall keep on file, in
accordance with its customary procedures, relating to a Receivable, an Obligor or a Financed Vehicle. 
 Section 3.04
Duties of Servicer as Custodian. 
 (a) Safekeeping. The Servicer shall hold the Receivable Files as custodian for
the benefit of the Issuing Entity and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuing Entity to comply with this Agreement. In performing its duties as
custodian the Servicer shall act with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to the receivable files relating to all comparable automotive receivables that the Servicer services for itself.
The Servicer shall promptly report to the Issuing Entity and the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and shall promptly take appropriate
action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review by the Issuing Entity or the Indenture Trustee of the Receivable Files. 

(b) Maintenance of and Access to Records. The Servicer shall maintain each Receivable File at one of its offices, or at such other
location, in each case as specified in Schedule B or at such other office or location as shall be specified to the Issuing Entity and the Indenture Trustee by written notice prior to any change in location together with the Opinion of Counsel
required by Section 10.02(j). 
 The Servicer shall provide to the Indenture Trustee access to any and all
documentation regarding the Receivables in such cases where the Indenture Trustee is required in connection with the enforcement of the rights of the Noteholders, or by applicable statutes or regulations to review such documentation, such access
being afforded without charge but only (a) upon reasonable request, (b) during normal business hours, (c) subject to the Servicer’s normal security and confidentiality procedures and (d) at offices designated by the
Servicer. Nothing in this Section 3.04(b) shall derogate from the obligation of the Servicer or the Indenture Trustee to observe any applicable law prohibiting disclosure of information regarding the Obligors and the failure of the
Servicer to provide access as provided in this Section 3.04(b) as a result of such obligation shall not constitute a breach of this Section 3.04(b). 
 (c) Release of Documents. Upon instruction from the Indenture Trustee, the Servicer shall release any Receivable File to the Indenture Trustee, the Indenture Trustee’s agent or the Indenture
Trustee’s designee, as the case may be, at such place or places as the Indenture Trustee may designate, as soon as practicable. 
 Section 3.05 Instructions; Authority To Act. The Servicer shall be deemed to have received proper instructions with respect to the Receivable Files upon its receipt of written instructions
signed by a Trust Officer of the Indenture Trustee. 
 Section 3.06 Custodian’s Indemnification. The Servicer
as custodian shall indemnify the Trust, the Owner Trustee, and the Indenture Trustee and each of their respective officers, directors, employees and agents for any and all liabilities, obligations, losses, compensatory 

  
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damages, payments, costs or expenses of any kind whatsoever that may be imposed on, incurred by or asserted against the Trust, the Owner Trustee, or the Indenture Trustee or any of their
respective officers, directors, employees and agents as the result of any improper act or omission in any way relating to the maintenance and custody by the Servicer as custodian of the Receivable Files; provided, however, that the
Servicer shall not be liable to the Owner Trustee for any portion of any such amount resulting from the willful misfeasance, bad faith or negligence of the Owner Trustee, and the Servicer shall not be liable to the Indenture Trustee for any portion
of any such amount resulting from the willful misfeasance, bad faith or negligence of the Indenture Trustee. 

Section 3.07 Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the
Initial Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If World Omni shall resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any
Servicer shall have been terminated under Section 8.01, the appointment of such Servicer as custodian may be terminated by the Indenture Trustee or by the Holders of the Controlling Securities evidencing not less than 25% of the
Outstanding Amount of the Controlling Securities or, with the consent of Holders of the Controlling Securities evidencing not less than 25% of the Outstanding Amount of the Controlling Securities, by the Owner Trustee, in the same manner as the
Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.01. As soon as practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the
Indenture Trustee or the Indenture Trustee’s agent at such place or places as the Indenture Trustee may reasonably designate. 
 ARTICLE IV 
 ADMINISTRATION AND SERVICING OF RECEIVABLES 

Section 4.01 Duties of Servicer. The Servicer, for the benefit of the Issuing Entity (to the extent provided herein), shall
manage, service, administer and receive collections on the Receivables (other than Purchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to all comparable automotive
receivables that it services for itself or others. The Servicer’s duties shall include collection and posting of all payments, making Advances, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending
invoices to Obligors, reporting tax information to Obligors, accounting for collections, paying the fee of the Administrator out of its own funds pursuant to Section 1.03 of the Administration Agreement and furnishing a Servicer’s
Certificate to the Indenture Trustee. Subject to the provisions of Section 4.02, the Servicer shall follow its customary standards, policies and procedures in performing its duties as Servicer. Without limiting the generality of the
foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Certificateholders and the Noteholders or any of them, any and all instruments of
satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to
enforce a Receivable, the Issuing Entity (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any
enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a 

  
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Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s expense and direction, take
steps to enforce such Receivable, including bringing suit in its name or the name of the Owner Trustee, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee shall upon the written request of the Servicer furnish the
Servicer with any powers of attorney and other documents, in forms provided to it, reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. 

Section 4.02 Collection and Allocation of Receivable Payments. The Servicer shall make reasonable efforts to collect all
payments called for under the terms and provisions of the Receivables as and when the same shall become due and shall follow such collection procedures as it follows with respect to all comparable automotive receivables that it services for itself
or others. The Servicer shall allocate collections as set forth in Section 5.03. The Servicer may grant extensions (although not more than six for the life of any Receivable (excluding the Servicer’s Payment Extension Program)),
rebates or adjustments on a Receivable, which shall not, for the purposes of this Agreement, modify the day of the month on which payment is due (except in connection with a limited number of accommodations for Obligors of occasional requests in
accordance with the Servicer’s customary servicing procedures) or change the method under which scheduled payments of interest are computed on such Receivable (other than with respect to the Servicer’s Payment Extension Program);
provided, however, that if the Servicer extends the date for final payment by the Obligor of any Receivable beyond the Final Scheduled Maturity Date, it shall promptly repurchase the Receivable from the Issuing Entity in accordance
with the terms of Section 4.07. The Servicer shall not retain any fees in connection with any extension of a Receivable but shall instead deposit such fees into the Collection Account within two Business Days of receipt (including
receipt of proper instructions regarding where to allocate such payment). The Servicer may in its discretion waive any late payment charge or any other fees that may be collected in the ordinary course of servicing a Receivable. The Servicer shall
not agree to any alteration of the interest rate or the originally scheduled payments on any Receivable, other than as provided herein or as required by law. 
 Section 4.03 Realization upon Receivables. On behalf of the Issuing Entity, the Servicer shall use commercially reasonable efforts, consistent with its customary servicing procedures, to
repossess or otherwise convert the ownership of the Financed Vehicle securing any Receivable as to which the Servicer shall have determined eventual payment in full is unlikely. The Servicer shall follow such customary and usual practices and
procedures as it shall deem necessary or advisable in its servicing of automotive receivables, which may include selling the Financed Vehicle at public or private sale. The Servicer is hereby authorized to exercise its discretion, consistent with
its customary servicing procedures and the terms of this Agreement, in servicing Defaulted Receivables so as to maximize the realization of those Defaulted Receivables, including the discretion to choose to sell or not to sell any of the Defaulted
Receivables. The Servicer shall not be liable for any such exercise of its discretion made in good faith. 
 Section 4.04
Physical Damage Insurance. To the extent applicable, the Servicer shall not take any action that would result in noncoverage under such physical damage insurance policy which, but for the actions of the Servicer, would have been covered
thereunder. Any amounts collected by the Servicer under any physical damage insurance policy shall be deposited in the Collection Account pursuant to Section 5.02. The parties hereto acknowledge that the Servicer shall not force place
any insurance coverage. 

  
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 Section 4.05 Maintenance of Security Interests in Financed Vehicles. The
Servicer shall, in accordance with its customary servicing procedures, take such steps as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle. The Servicer is hereby authorized to
take such steps as are necessary to re-perfect such security interest on behalf of the Issuing Entity and the Indenture Trustee in the event of the relocation of a Financed Vehicle or for any other reason. 

Section 4.06 Covenants of Servicer. The Servicer shall not release the Financed Vehicle securing any Receivable from the
security interest granted by such Receivable in whole or in part except in the event of (i) payment by the Obligor (a) in full or (b) in part with a remaining total payment shortage amount which, according to the Servicer’s
customary procedures, does not exceed the amount of total payment shortage that would permit the Servicer to release the related Financed Vehicle from the security interest or (ii) repossession, nor shall the Servicer impair the rights of the
Issuing Entity, the Indenture Trustee, the Certificateholders or the Noteholders in such Receivable. 
 Section 4.07
Purchase of Receivables upon Breach. The Servicer or the Owner Trustee, on behalf of the Trust, shall inform the other party and the Indenture Trustee and the Depositor promptly, in writing, upon the discovery of any breach pursuant to
Section 4.02, 4.05, 4.06 or 7.01. Unless the breach shall have been cured by the last day of the second Collection Period following such discovery or written notice (or, at the Servicer’s election, the last day
of the first following Collection Period), the Servicer shall purchase any Receivable materially and adversely affected by such breach as of such last day and the Servicer shall deliver a revised Schedule of Receivables to the Depositor and the
Trust, which shall reflect the repurchase of such Receivables. In consideration of the purchase of any such Receivable pursuant to the preceding sentence, the Servicer shall remit the Purchase Amount in the manner specified in
Section 5.05. Subject to Section 7.02, the sole remedy of the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Certificateholders or the Noteholders with respect to a breach pursuant to Section 4.02,
4.05, 4.06 or 7.01 shall be to require the Servicer to purchase Receivables pursuant to this Section. The Owner Trustee shall have no duty to conduct any affirmative investigation as to the occurrence of any condition requiring
the repurchase of any Receivable pursuant to this Section. 
 Section 4.08 Servicing Fee. The Servicing Fee for a
Payment Date shall equal the product of (a) one-twelfth, (b) the Servicing Fee Rate and (c) the aggregate Principal Balance of the Receivables as of the first day of the related Collection Period; provided, however,
that the Servicing Fee on the initial Payment Date shall be prorated to compensate for the length of the initial Collection Period not equaling one month and will be equal to $1,149,568.50. The Servicer shall also be entitled to all
reimbursements for Advances as set forth in Section 5.04, Supplemental Servicing Fees collected (from whatever source) on the Receivables, the amount of any Servicing Fee due but not distributed to the Servicer on a prior Payment Date
(including any amounts previously deferred by the Servicer as provided in this Section 4.08) plus any reimbursement pursuant to the last paragraph of Section 7.02. The Servicer may, as long as it believes that sufficient
collections will be available from interest collections on one or more 

  
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future Payment Dates to pay the Servicing Fee, by notice to the Indenture Trustee on or before a Payment Date, elect to defer all 
 or a portion of the Servicing Fee with respect to the related Collection Period, without interest. If the Servicer defers all of the Servicing Fee, the Servicing Fee for such related Collection Period
will be deemed to equal zero. 
 Section 4.09 Servicer’s Certificate. On or prior to 11:00 a.m. New York City
time on each Payment Determination Date, the Servicer shall deliver a Servicer’s Certificate pursuant to Section 5.08. Receivables to be purchased by the Servicer or to be repurchased by World Omni or the Depositor shall be
identified by the Servicer by account number with respect to such Receivable (as specified in the Schedule of Receivables). 

Section 4.10 Annual Statement as to Compliance; Item 1122 Servicing Criteria Assessment; Notice of Default. 

(a) To the extent required by Regulation AB, the Servicer shall deliver (and shall cause each of its Reporting Subcontractors, if any, to
deliver) to the Owner Trustee, the Indenture Trustee and the Swap Counterparty, if any, on or before the date that is 90 days after the end of each calendar year, commencing with the calendar year ended December 31, 2013, an Officer’s
Certificate as required under Item 1123 of Regulation AB, dated as of December 31 of the preceding year, stating that (i) a review of the activities of the Servicer during the preceding calendar year (or such shorter period as shall
have elapsed since the Closing Date) and of its performance under this Agreement has been made under such officer’s supervision and (ii) to the best of such officer’s knowledge, based on such review, the Servicer has fulfilled all its
obligations under this Agreement in all material respects throughout such reporting period, or, if there has been a failure to fulfill any such obligation in any material respect, specifying each such failure known to such officer and the nature and
status thereof. The Servicer shall send a copy of such certificate and the report referred to in Section 4.11 to the Rating Agencies. A copy of such certificate and the report referred to in Section 4.11 may be obtained by
any Certificateholder or Noteholder by a request in writing to the Owner Trustee addressed to the Corporate Trust Office. Upon the request of the Owner Trustee, the Indenture Trustee will promptly furnish the Owner Trustee a list of Noteholders as
of the date specified by the Owner Trustee. 
 (b) The Servicer shall deliver to the Owner Trustee and the Indenture Trustee, on
or before the date that is 90 days after the end of each calendar year, commencing with the calendar year ended December 31, 2013, a report, dated as of December 31 (or other applicable date) of the preceding year, regarding the
Servicer’s assessment of compliance with the Servicing Criteria during the immediately preceding calendar year, including disclosure of any material instance of non-compliance identified by the Servicer, as described in Rule 13a-18 and 15d-18
of the Exchange Act and Item 1122 of Regulation AB. Deliveries pursuant to this Section 4.10(b) may be delivered by electronic mail. 
 (c) The Servicer shall deliver to the Owner Trustee, the Indenture Trustee and the Rating Agencies, promptly after having obtained knowledge thereof, but in no event later than five (5) Business Days
thereafter, unless such default shall have been cured prior to such date, written notice in an Officer’s Certificate of any event which with the giving of notice or lapse of time, or both, would become a Servicer Default under
Section 8.01(a) or (b). 

  
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 Section 4.11 Annual Independent Certified Public Accountants’ Report. The
Servicer shall cause a firm of independent certified public accountants, who may also render other services to the Servicer or to its Affiliates, to deliver to the Servicer (who shall promptly provide the assessment described in this
Section 4.11(a) to the Rating Agencies), the Indenture Trustee, the Owner Trustee and the Swap Counterparty, if any, on or before the date that is 90 days after the end of the Servicer’s fiscal year, commencing with the fiscal year
ended December 31, 2013, a report, dated as of December 31 of the preceding fiscal year, addressed to the board of directors of the Servicer, providing its assessment of compliance with the Servicing Criteria during the preceding fiscal
year, including disclosure of any material instance of non-compliance, as described in Rule 13a-18 or Rule 15d-18 under the Exchange Act and Item 1122(b) of Regulation AB. Such attestation shall be in accordance with Rule 1-02(a)(3) and 2-02(g)
of Regulation S-X under the Securities Act and the Exchange Act. Deliveries pursuant to this Section 4.11(a) may be delivered by electronic mail. 
 Section 4.12 Access to Certain Documentation and Information Regarding Receivables. The Servicer shall provide to the Certificateholders and Noteholders access to the Receivable Files in such
cases where the Certificateholders or Noteholders shall be required by applicable statutes or regulations to review such documentation. Access shall be afforded without charge, but only upon reasonable request and during the normal business hours at
the offices of the Servicer. Nothing in this Section shall affect the obligation of the Servicer to observe any applicable law prohibiting disclosure of information regarding the Obligors and the failure of the Servicer to provide access to
information as a result of such obligation shall not constitute a breach of this Section. 
 Section 4.13 Servicer
Expenses. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder, including fees and disbursements of independent accountants, taxes imposed on the Servicer and expenses incurred in
connection with distributions and reports to Certificateholders and Noteholders. 
 Section 4.14 Appointment of
Subservicer. The Servicer may at any time appoint a subservicer to perform all or any portion of its obligations as Servicer hereunder; provided, however, that the Rating Agency Condition shall have been satisfied in
connection therewith; and provided, further, that the Servicer shall remain obligated and be liable to the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Certificateholders and the Noteholders for the servicing
and administering of the Receivables in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if
the Servicer alone were servicing and administering the Receivables. The fees and expenses of the subservicer shall be as agreed between the Servicer and its subservicer from time to time, and none of the Issuing Entity, the Owner Trustee, the
Indenture Trustee, the Certificateholders or the Noteholders shall have any responsibility therefor. The Servicer shall give the Indenture Trustee written notice of any subservicer appointed hereunder, 

Section 4.15 [Reserved]. 

  
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 Section 4.16 Exchange Act Certifications. To the extent permitted by Exchange
Act Rules, the Servicer shall prepare, execute, file and deliver on behalf of the Issuing Entity any certification or other instrument as required by Exchange Act Rules 13a-14 and 15d-14. 

ARTICLE V 

TRUST ACCOUNTS; DISTRIBUTIONS; STATEMENTS TO CERTIFICATEHOLDERS 

AND NOTEHOLDERS 
 Section 5.01 Establishment of Trust Accounts. 
 (a) (i) The Servicer,
for the benefit of the Noteholders and the Certificateholders, shall cause to be established and maintained with and in the name of the Indenture Trustee an Eligible Deposit Account (the “Collection Account”), bearing a designation
clearly indicating that the funds deposited therein are held for the benefit of the Noteholders and the Certificateholders. 
 (ii) The Servicer, for the benefit of the Noteholders, shall cause to be established and maintained with and in the name of the Indenture Trustee an Eligible Deposit Account (the “Note
Distribution Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders. 
 (iii) The Servicer, for the benefit of the Noteholders, the Certificateholders and the Swap Counterparty, if any, shall cause to be established and maintained with and in the name of the Indenture Trustee
an Eligible Deposit Account (the “Reserve Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders, the Certificateholders and the Swap Counterparty, if any.

 (iv) If there is a Funding Period, the Servicer, for the benefit of the Noteholders, shall cause to be
established and maintained with and in the name of the Indenture Trustee an Eligible Deposit Account (the “Pre-Funding Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of
the Noteholders. 
 (v) If there is a Funding Period, the Servicer, for the benefit of the Noteholders and the
Swap Counterparty, if any, shall cause to be established and maintained with and in the name of the Indenture Trustee an Eligible Deposit Account (the “Negative Carry Account”), bearing a designation clearly indicating that the
funds deposited therein are held for the benefit of the Noteholders and the Swap Counterparty, if any. 
 (b) Funds on deposit
in the Collection Account, the Note Distribution Account, the Reserve Account, the Pre-Funding Account, if any, and the Negative Carry Account, if any, (collectively the “Trust Accounts”) shall be invested by the Indenture Trustee
in Eligible Investments selected by the Servicer. In absence of written direction from the Servicer, such funds shall be invested in Eligible Investments specified in clause (i) of the definition thereof. All such Eligible Investments
shall be held by the Indenture Trustee for the benefit of the Noteholders, the Certificateholders and the Swap Counterparty, if any, as applicable; 

  
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provided, that on each Payment Determination Date all interest and other Investment Earnings on funds on deposit in the Trust Accounts shall be deposited into the Collection Account
and shall be deemed to constitute a portion of Available Funds for the related Payment Date. Other than as permitted by the Rating Agencies, funds on deposit in the Collection Account, the Reserve Account, the Note Distribution Account, the
Pre-Funding Account, if any, and the Negative Carry Account, if any, shall be invested in Eligible Investments that will mature (A) not later than the Business Day immediately preceding the next Payment Date or (B) on or before 10:00 a.m.
on such next Payment Date if such investment is held in the corporate trust department of the institution with which the Collection Account, the Reserve Account, the Note Distribution Account, the Pre-Funding Account, if any, and the Negative Carry
Account, if any, as applicable, is then maintained and is invested either (i) in a time deposit of the Indenture Trustee rated at least A-1 by Standard & Poor’s and (if rated by Fitch) F-1 by Fitch (such account being maintained
within the corporate trust department of the Indenture Trustee), (ii) in the Indenture Trustee’s common trust fund so long as such fund is rated in the highest applicable rating category by Standard & Poor’s and (if rated by
Fitch) Fitch or (iii) in Eligible Investments specified in clauses (g) or (i) of the definition thereof; and provided that Eligible Investments shall be available for redemption and use by the Indenture Trustee on the
relevant Payment Date. In no event shall the Indenture Trustee be held liable for investment losses in Eligible Investments pursuant to this Section 5.01, except in its capacity as obligor thereunder. 

(c) (i) The Indenture Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Trust Accounts
and in all proceeds thereof (including all income thereon) and all such funds, investments, proceeds and income shall be part of the Trust Estate. The Trust Accounts shall be under the sole dominion and control of the Indenture Trustee for the
benefit of the Noteholders, the Certificateholders and the Swap Counterparty, if any, as the case may be. If, at any time, any of the Trust Accounts ceases to be an Eligible Deposit Account, the Indenture Trustee (or the Servicer on its behalf)
shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency may consent) establish a new Trust Account as an Eligible Deposit Account and shall transfer any cash and/or any investments to such
new Trust Account. The Indenture Trustee or the other Person holding the Trust Accounts as provided in this Section 5.01(c)(i) shall be the “Securities Intermediary.” If the Securities Intermediary shall be a Person
other than the Indenture Trustee, the Servicer shall obtain the express agreement of such Person to the obligations of the Securities Intermediary set forth in this Section 5.01. 

(ii) With respect to the Trust Account Property, the Securities Intermediary agrees, by its acceptance hereof, that:

 (A) The Trust Accounts are accounts to which Financial Assets will be credited. 

(B) All securities or other property underlying any Financial Assets credited to the Trust Accounts shall be registered in
the name of the Securities Intermediary, indorsed to the Securities Intermediary or in blank or credited to another securities account maintained in the name of the Securities Intermediary and in no case will any Financial Asset credited to any of
the Trust Accounts be registered in the name of the Trust, the Servicer or the Depositor, payable to the 

  
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order of the Trust, the Servicer or the Depositor or specially indorsed to the Owner Trustee, the Servicer or the Depositor except to the extent the foregoing have been specially indorsed to the
Securities Intermediary or in blank. 
 (C) All property delivered to the Securities Intermediary pursuant to
this Agreement will be promptly credited to the appropriate Trust Account. 
 (D) Each item of property (whether
investment property, Financial Asset, security, instrument or cash) credited to a Trust Account shall be treated as a “financial asset” within the meaning of Section 8-102(a)(9) of the New York UCC. 

(E) If at any time the Securities Intermediary shall receive any order from the Indenture Trustee directing transfer or
redemption of any Financial Asset relating to the Trust Accounts, the Securities Intermediary shall comply with such entitlement order without further consent by the Trust, the Servicer, the Depositor or any other Person. 

(F) The Trust Accounts shall be governed by the laws of the State of New York, regardless of any provision in any other
agreement. For purposes of the UCC, New York shall be deemed to be the Securities Intermediary’s jurisdiction and the Trust Accounts (as well as the securities entitlements (as defined in Section 8-102(a)(17) of the UCC) related thereto)
shall be governed by the laws of the State of New York. 
 (G) The Securities Intermediary has not entered into,
and until the termination of this Agreement will not enter into, any agreement with any other person relating to the Trust Accounts and/or any Financial Assets credited thereto pursuant to which it has agreed to comply with entitlement orders (as
defined in Section 8-102(a)(8) of the New York UCC) of such other person and the Securities Intermediary has not entered into, and until the termination of this Agreement will not enter into, any agreement with the Trust, the Depositor, the
Swap Counterparty, if any, the Servicer or the Indenture Trustee purporting to limit or condition the obligation of the Securities Intermediary to comply with entitlement orders as set forth in Section 5.01(c)(ii)(E) hereof. 

(H) Except for the claims and interest of the Indenture Trustee and of the Trust in the Trust Accounts, the Securities
Intermediary knows of no claim to, or interest in, the Trust Accounts or in any Financial Asset credited thereto. If any other person asserts any lien, encumbrance or adverse claim (including any writ, garnishment, judgment, warrant of attachment,
execution or similar process) against the Trust Accounts or in any Financial Asset carried therein, the Securities Intermediary will promptly notify the Indenture Trustee, the Servicer, the Swap Counterparty, if any, and the Trust thereof.

 (I) The Securities Intermediary will promptly send copies of all statements, confirmations and other
correspondence concerning the Trust Accounts and/or any Trust Account Property simultaneously to each of the Servicer and the Indenture Trustee. 

  
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 (iii) The Servicer shall have the power, revocable by the Indenture Trustee
or by the Owner Trustee with the consent of the Indenture Trustee, to instruct the Indenture Trustee to make withdrawals and payments from the Trust Accounts for the purpose of permitting the Servicer or the Owner Trustee to carry out its respective
duties hereunder or permitting the Indenture Trustee to carry out its duties under the Indenture. 
 (d) Pre-Funding
Account. On the Closing Date, the Depositor shall deposit in the Pre-Funding Account $0.00 (the “Pre-Funding Account Initial Deposit”) from the net proceeds of the sale of the Notes. On each Subsequent Transfer Date, if any,
upon satisfaction of the conditions set forth in Section 2.03(b) with respect to such transfer, the Servicer shall instruct the Indenture Trustee to withdraw from the Pre-Funding Account (i) an amount equal to [RESERVED]% of the
result of the aggregate Starting Principal Balance of the Subsequent Receivables transferred to the Trust on such Subsequent Transfer Date less the Yield Supplement Overcollateralization Amount with respect to such Subsequent Receivables as of the
related Cutoff Date and (ii), on behalf of the Depositor, deposit into the Reserve Account a portion of such funds equal to the Reserve Account Subsequent Transfer Deposit with respect to such Subsequent Transfer Date and distribute the remainder to
or upon the order of the Depositor as payment for such Subsequent Receivables. 
 If the Pre-Funded Amount has not been reduced
to zero on the Payment Date immediately following the calendar month in which the Funding Period, if any, ends, the Servicer shall instruct the Indenture Trustee to transfer from the Pre-Funding Account on such Payment Date any amount then remaining
in the Pre-Funding Account to the Note Distribution Account for distribution in accordance with Section 8.02(g) of the Indenture. 
 (e) Negative Carry Account. On the Closing Date, the Depositor shall deposit in the Negative Carry Account $0.00 (the “Negative Carry Account Initial Deposit”) from the net
proceeds of the sale of the Notes. 
 On each Payment Date during the Funding Period, if any, the Servicer will instruct the
Indenture Trustee to withdraw from the Negative Carry Account (i) an amount equal to the Negative Carry Amount and deposit it into the Collection Account for application as Total Available Funds for such Payment Date, and (ii) the excess
of the amount on deposit in the Negative Carry Account, if any, over the Required Negative Carry Account Balance (after withdrawal of the Negative Carry Amount for such Payment Date) and deposit it into the Collection Account for application as
Available Funds for such Payment Date. In addition, on the Payment Date following the calendar month in which the last day of the Funding Period occurs, the Servicer will instruct the Indenture Trustee to withdraw from the Negative Carry Account the
amount remaining on deposit in the Negative Carry Account (after giving effect to all withdrawals from the Negative Carry Account on that Payment Date) and deposit it into the Collection Account for application as Available Funds for such Payment
Date. 

  
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 Section 5.02 Collections. The Servicer shall remit to the Collection Account
(and post such amounts to its records) within two Business Days of receipt of payment (including receipt of proper instructions regarding where to allocate such payment) all payments by or on behalf of the Obligors with respect to the Receivables
(other than Purchased Receivables) and all Liquidation Proceeds, both as collected during the Collection Period. Notwithstanding the foregoing, for so long as (i) World Omni remains the Servicer, (ii) no Servicer Default shall have
occurred and be continuing and (iii) the Rating Agency Condition is met, the Servicer shall remit such collections with respect to the preceding calendar month to the Collection Account on the Payment Determination Date immediately preceding
the related Payment Date. For purposes of this Article V the phrase “payments by or on behalf of Obligors” shall mean payments made with respect to the Receivables by Persons other than the Servicer or the Depositor. 

Section 5.03 Application of Collections. With respect to each Receivable (other than a Purchased Receivable), payments by or
on behalf of the Obligor shall be applied to interest and principal in accordance with the Simple Interest Method. 

Section 5.04 Advances. On each Payment Date, the Servicer shall deposit into the Collection Account an amount (such amount,
an “Advance”), if positive, equal to (1) the Total Required Advances with respect to such Payment Date minus (2) the Outstanding Advance immediately following the preceding Payment Date. On each Payment Date, the Servicer
shall be reimbursed for Outstanding Advances in an amount, if positive, equal to (1) the Outstanding Advances immediately following the preceding Payment Date minus (2) the Total Required Advances with respect to such Payment Date. The
Servicer shall not make any advance in respect of principal on the Receivables. 
 Section 5.05 Additional Deposits.
The Servicer and the Depositor shall deposit or cause to be deposited in the Collection Account the aggregate Purchase Amount with respect to Purchased Receivables and the Servicer shall deposit therein all amounts to be paid under
Section 9.01. The Servicer will deposit the aggregate Purchase Amount with respect to Purchased Receivables when such obligations are due. The Servicer shall, if necessary, deposit all Advances required to be made pursuant to
Section 5.04 in the Collection Account on each Payment Date. All such other deposits shall be made on the Payment Determination Date for the related Collection Period. 

Section 5.06 Distributions. 
 (i) On or before 11:00 a.m. New York City time on each Payment Determination Date, the Servicer shall calculate (A) all amounts required to be deposited in the Note Distribution Account, (B) all
amounts required to be distributed to the Certificateholders, (C) all amounts required to be transferred from the Pre-Funding Account and the Negative Carry Account, if any, and (D) the net amount payable by or to the Trust under the
Interest Rate Swaps, if any. 
 (ii) Except as otherwise provided in clause (iii) below, on each
Payment Date, the Servicer shall instruct the Indenture Trustee (based on the information contained in the Servicer’s Certificate delivered on the related Payment Determination Date pursuant to Section 4.09) to make the following
deposits and distributions in the following order of priority, in each case, to the extent of Total Available Funds, if any, remaining after application thereof pursuant to prior clauses: 

  
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 (A) pro rated to the applicable Swap Counterparty, the applicable Monthly
Swap Payment Amount, if any; 
 (B) pro rata (a) to the Note Distribution Account, the Class A
Noteholders’ Interest Distributable Amount and (b) to the applicable Swap Counterparty, any Senior Swap Termination Payment Amount owed to such Swap Counterparty by the Trust, if any; 

(C) to the Note Distribution Account, the Noteholders’ First Priority Principal Distributable Amount; 

(D) to the Note Distribution Account, the Class B Noteholders’ Interest Distributable Amount; 

(E) to the Note Distribution Account, the Noteholders’ Second Priority Principal Distributable Amount; 

(F) to the Reserve Account, the amount necessary to reinstate the balance in the Reserve Account up to the Required
Reserve Amount; 
 (G) to the Note Distribution Account, an amount equal to the Noteholders’ Principal
Distributable Amount minus any amounts allocated to the Note Distribution Account pursuant to clauses (C) and (E) above; 
 (H) pro rated to the applicable Swap Counterparty, any Subordinate Swap Termination Payment Amount together with any other amount due and payable by the Trust to such Swap Counterparty pursuant to the
Interest Rate Swap, if any; and 
 (I) to the Certificateholders, any remaining amounts; provided the
Indenture Trustee has not received written instruction from the Certificateholders of 100% percentage interest in the Certificates to redeposit all or a portion of such Total Available Funds due such Certificateholders into the Collection Account.

 The Holders of 100% Percentage Interest of the Certificates will have the right, but not the obligation, in their sole discretion, to
instruct the Indenture Trustee in writing on or before 11:00 a.m. New York City time on the related Payment Determination Date to retain in the Collection Account all or a portion of distributions otherwise payable to them pursuant to clause
(I) above. If the Certificateholders make this election, these amounts will be treated as collections during the then current Collection Period and the Certificateholders will have no claim to such amounts (unless distributed on a
subsequent Payment Date pursuant to clause (I) above). 
 (iii) In the event Notes are declared to be
due and payable following the occurrence of an Event of Default under the Indenture, Available Funds will be distributed in the following order or priority: 

  
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 (A) pro rated to the applicable Swap Counterparty, the applicable Monthly
Swap Payment Amount, if any; 
 (B) pro rata (a) to the Holders of the Class A Notes, the aggregate
accrued and unpaid interest on each class of the Class A Notes and (b) to the applicable Swap Counterparty, any Senior Swap Termination Payment Amount owed to such Swap Counterparty by the Trust, if any; 

(C) if the Notes have been declared to be due and payable as a result of occurrence of an Event of Default under
Section 5.01(a)(i) or (ii) of the Indenture, to the Holders of the Class A-1 Notes, the aggregate Outstanding Amount of such Notes, and then to the Holders of the Class A-2 Notes, the Class A-3 Notes and the
Class A-4 Notes, pro rata, the aggregate Outstanding Amount of such Notes; 
 (D) to the Holders of the
Class B Notes, the accrued and unpaid interest on the Class B Notes; 
 (E) if the Notes have been declared to be
due and payable as a result of occurrence of an Event of Default under the Indenture other than as a result of default in payment of any interest on or principal of any Note in accordance with the Indenture, to the Holders of the Class A-1
Notes, the aggregate Outstanding Amount of such Notes, and then to the Holders of the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes, pro rata, the aggregate Outstanding Amount of such Notes; 

(F) to the Holders of the Class B Notes, the Outstanding Amount of the Class B Notes; 

(G) pro rated to the applicable Swap Counterparty, any Subordinate Swap Termination Payment Amount together with any other
amount due and payable by the Trust to such Swap Counterparty pursuant to the Interest Rate Swaps, if any; and 

(H) to the Certificateholders, any remaining amounts. 

Section 5.07 Reserve Account. 
 (a) On the Closing Date, the Indenture Trustee will deposit, on behalf of the Depositor, the Reserve Account Initial Deposit into the Reserve Account. 

(b) If the amount on deposit in the Reserve Account on any Payment Date (after giving effect to all deposits thereto or withdrawals
therefrom on such Payment Date) is greater than the Required Reserve Amount for such Payment Date, the Servicer shall instruct the Indenture Trustee to withdraw such amount from the Reserve Account and apply it as Total Available Funds for such
Payment Date. 

  
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 (c) In the event that the Total Available Funds for a Payment Date are not sufficient to
make the full amount of the payments and deposits required pursuant to Sections 5.06(ii)(A), (B), (C), (D) and (E) on such Payment Date, the Servicer shall instruct the Indenture Trustee to withdraw from
the Reserve Account on such Payment Date an amount equal to such shortfall, to the extent of funds available therein, and pay or deposit such amount according to the priorities set forth in Section 5.06(ii). In addition, amounts will be
withdrawn from the Reserve Account as provided in Section 8.02(c) and (d) of the Indenture. 
 (d)
Subject to Section 9.01, amounts will continue to be applied pursuant to Section 5.06 following payment in full of the Outstanding Amount of the Notes until the Pool Balance is reduced to zero. Following the payment in full
of the aggregate Outstanding Amount of the Notes and of all other amounts owing or to be distributed hereunder or under the Indenture or the Trust Agreement to Noteholders, any amount remaining on deposit in the Reserve Account shall be distributed
to the Certificateholders. 
 Section 5.08 Statements to Noteholders and Certificateholders. On or prior to 11:00
a.m. New York City time on each Payment Determination Date, the Servicer shall provide to the Indenture Trustee (with a copy to the Rating Agencies and the Swap Counterparty, if any) for the Indenture Trustee to post on its internet website pursuant
to Section 6.06 of the Indenture, a statement substantially in the form of Exhibit B, setting forth at least the following information as to the Notes, to the extent applicable: 

(a) the amount of such distribution allocable to principal allocable to each Class of Notes; 

(b) the amount of such distribution allocable to interest allocable to each Class of Notes; 

(c) the Outstanding Amount of each Class of Notes and the Note Pool Factor for each such Class as of the close of business on the last
day of the preceding Collection Period; 
 (d) the amount of the Servicing Fee paid to the Servicer with respect to the related
Collection Period, the amount of any unpaid Servicing Fee and the change in such amount from the prior Payment Date; 
 (e) the
balance of the Reserve Account on such Payment Determination Date after giving effect to deposits and withdrawals to be made on the immediate following Payment Date, if any; 
 (f) the amount, if any, distributed to Noteholders and Certificateholders from amounts on deposit in the Reserve Account or from other forms of credit enhancement; 

(g) the Pool Balance as of the close of business on the last day of the related Collection Period, after giving effect to payments
allocated to principal reported under clause (a) above; 
 (h) the Class A Noteholders’ Interest Carryover
Shortfall; 
 (i) the Class B Noteholders’ Interest Carryover Shortfall; 

  
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 (j) the number of Receivables purchased by, and the aggregate Purchase Amount paid by, World
Omni or the Servicer with respect to the related Collection Period; 
 (k) delinquency information relating to the Receivables
which has a payment of $40 or more that is more than 30, 60 or 90 days delinquent; 
 (l) the aggregate amount of Receivables
which have become Defaulted Receivables during the preceding Collection Period; 
 (m) the amount, if any, distributed to the
Certificateholders and the balance of the Certificates after giving effect to all distributions reported under this clause (n); 
 (n) the Noteholders’ First Priority Principal Distributable Amount; 
 (o) the
Noteholders’ Second Priority Principal Distributable Amount; 
 (p) the Noteholders’ Principal Distributable Amount;

 (q) the Overcollateralization Target Amount for the immediately following Payment Date; 

(r) the Negative Carry Amount, if any, and the balance, if any, of the Negative Carry Account on such date, after giving effect to
deposits and withdrawals to be made on the immediately following Payment Date, if any; 
 (s) for Payment Dates during the
Funding Period, if any, the Starting Principal Balance for all Subsequent Receivables transferred to the Trust since the preceding Payment Date, the remaining Pre-Funded Amount and the Investment Earnings on amounts on deposit in the Pre-Funding
Account, if any, for the related Collection Period; 
 (t) for the Payment Date immediately following the calendar month in
which the Funding Period, if any, ends, the amount of any remaining Pre-Funded Amount that has not been used to fund the purchase of Subsequent Receivables; 
 (u) the amount of outstanding Advances on such date; 
 (v) the number and dollar
amount of Receivables at the beginning and end of the applicable Collection Period, and the weighted average coupon and weighted average remaining term of the Receivables held by the Trust; 

(w) delinquency and loss information for the applicable Collection Period and any material changes in determining or defining
delinquencies, charge-offs and uncollectible accounts; 
 (x) material breaches of pool asset representations and warranties or
transaction covenants; 

  
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 (y) any material modifications, extensions or waivers relating to the terms of or fees,
penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; 

(z) the Yield Supplement Overcollateralization Amount for the related Payment Date; 

(aa) the Interest Rate for each Class of Notes for the next Payment Date; and 

(bb) the Monthly Swap Payment Amount, the Senior Swap Termination Payment Amount and the Subordinate Swap Termination Payment Amount, if
any. 
 Each amount set forth on the Payment Date statement under clauses (a), (b), (h) and (i) above
shall be expressed as a dollar amount per $1,000 of original principal amount of a Note. Deliveries pursuant to this Section 5.08 may be delivered by electronic mail. 

Section 5.09 Net Deposits. As an administrative convenience, the Servicer will be permitted to make the deposit of
collections on the Receivables, Advances and Purchase Amounts for or with respect to the Collection Period net of distributions (including without limitation the Servicing Fee) to be made to the Servicer with respect to the Collection Period. The
Servicer, however, will account to the Owner Trustee, the Indenture Trustee, the Noteholders and the Certificateholders as if all deposits, distributions and transfers were made individually. 

Section 5.10 Transfer of Certificates. In the event any Certificateholder shall wish to transfer such Certificate, the
Depositor shall provide to such Certificateholder and any prospective transferee designated by such Certificateholder information regarding the Certificates and the Receivables and such other information as shall be necessary to satisfy the
condition to eligibility set forth in Rule 144A(d)(4) for transfer of any such Certificate without registration thereof under the Securities Act, pursuant to the exemption from registration provided by Rule 144A. 

ARTICLE VI 

THE DEPOSITOR 
 Section 6.01 Representations of Depositor. The Depositor makes the following representations on which the Issuing Entity is deemed to have relied in acquiring the Receivables. The
representations speak as of the Closing Date and each Subsequent Transfer Date, if any, and shall survive the sale of the Receivables to the Issuing Entity and the pledge thereof to the Indenture Trustee pursuant to the Indenture. 

(a) Organization and Good Standing. The Depositor is duly organized and validly existing as a limited liability company in good
standing under the laws of the State of Delaware, with the requisite power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted, and had at all relevant
times, and has, the requisite power, authority and legal right to acquire and own the Receivables. 

  
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 (b) Due Qualification. The Depositor is duly qualified to do business as a foreign
limited liability company in good standing, and has obtained all necessary material licenses and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications, except
where the failure to be so qualified or to have obtained such licenses or approvals would not have a material adverse effect on the Depositor’s earnings, business affairs or business prospects. 

(c) Power and Authority. The Depositor has the requisite power and authority to execute and deliver this Agreement and to carry
out its terms; the Depositor has full power and authority to sell and assign the property to be sold and assigned to and deposited with the Issuing Entity, and the Depositor shall have duly authorized such sale and assignment to the Issuing Entity
by all necessary action; and the execution, delivery and performance of this Agreement has been duly authorized by the Depositor by all necessary action. 
 (d) Binding Obligation. This Agreement constitutes a 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 or other similar laws, now or hereafter in effect, affecting the enforcement of creditors’ rights in general, and except as such enforceability may
be limited by general principles of equity (whether considered in a suit at law or in equity). 
 (e) No Violation. The
consummation of the transactions contemplated by this Agreement and the fulfillment of the terms hereof do not (i) conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of
time) a default under, the limited liability company agreement or bylaws of the Depositor; (ii) breach, conflict with or violate any of the material terms or provisions of, or constitute (with or without notice or lapse of time) a default
under, any indenture, agreement or other instrument to which the Depositor is a party or by which it is bound; (iii) result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture,
agreement or other instrument (other than pursuant to this Agreement and the Basic Documents); or, (iv) to the best of the Depositor’s knowledge, violate any order, rule or regulation applicable to the Depositor of any court or of any
federal or state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Depositor or its properties except, in the case of clauses (ii), (iii) and (iv), for such breaches,
defaults, conflicts, liens or violations that would not have a material adverse effect on the Depositor’s earnings, business affairs or business prospects. 
 (f) No Proceedings. To the Depositor’s best knowledge, there are no proceedings or investigations pending or threatened before any court, regulatory body, administrative agency or other
governmental instrumentality having jurisdiction over the Depositor or its properties: (i) asserting the invalidity of this Agreement, the Indenture or any of the other Basic Documents, the Notes or the Certificates, (ii) seeking to
prevent the issuance of the Notes or the Certificates or the consummation of any of the transactions contemplated by this Agreement, the Indenture or any of the other Basic Documents, (iii) seeking any determination or ruling that could
reasonably be expected to materially and adversely affect the performance by the Depositor of its obligations under, or the validity or enforceability of, this Agreement, the Indenture, any of the other Basic Documents, the Notes or the Certificates
or (iv) which could reasonably be expected to adversely affect the federal or state income tax attributes of the Notes or the Certificates. 

  
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 (g) All Consents. All authorizations, licenses, consents, orders or approvals of, or
registrations or declarations with, any court, regulatory body, administrative agency or other government instrumentality required to be obtained, effected or given by the Depositor in connection with the execution and delivery by the Depositor of
this Agreement or any of the Basic Documents to which it is a party and the performance by the Depositor of the transactions contemplated by this Agreement or any of the Basic Documents to which it is a party, have been duly obtained, effected or
given and are in full force and effect, except where failure to obtain the same would not have a material adverse effect upon the rights of the Trust, the Noteholders or the Certificateholders. 

Section 6.02 Limited Liability Company Existence. 
 (a) During the term of this Agreement, the Depositor will keep in full force and effect its existence, rights and franchises as a limited liability company under the laws of the jurisdiction of its
formation and will obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the Basic Documents and each other
instrument or agreement necessary or appropriate to the proper administration of this Agreement and the transactions contemplated hereby. In addition, all transactions and dealings between the Depositor and its Affiliates will be conducted on an
arm’s-length basis. 
 (b) During the term of this Agreement, the Depositor shall observe the applicable legal requirements
for the recognition of the Depositor as a legal entity separate and apart from its affiliates, including the following: 
 (i) the Depositor shall maintain limited liability company records and books of account separate from those of its affiliates; 

(ii) except as otherwise provided in this Agreement, the Depositor shall not commingle its assets and funds with those of
its affiliates; 
 (iii) the Depositor shall hold such appropriate meetings of its Board of Directors as are
necessary to authorize all the Depositor’s limited liability company actions required by law to be authorized by the Board of Directors, shall keep minutes of such meetings and observe all other customary limited liability company formalities
(and any successor Depositor not a limited liability company shall observe similar procedures in accordance with its governing documents and applicable law); and 

(iv) the Depositor shall at all times hold itself out to the public under the Depositor’s own name as a legal entity
separate and distinct from its affiliates. 

  
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 Section 6.03 Liability of Depositor; Indemnities. The Depositor shall be liable
in accordance herewith only to the extent of the obligations specifically undertaken by the Depositor under this Agreement: 

(a) The Depositor shall indemnify, defend and hold harmless the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Servicer
and the Swap Counterparty, if any, and any of the officers, directors, employees and agents of the Issuing Entity, the Owner Trustee and the Indenture Trustee from and against any taxes that may at any time be asserted against any such Person with
respect to the transactions contemplated herein and in the Basic Documents, including any sales, gross receipts, general corporation, tangible personal property, privilege or license taxes (but, in the case of the Issuing Entity, not including any
taxes asserted with respect to, and as of the date of, the sale of the Receivables to the Issuing Entity or the issuance and original sale of the Certificates and the Notes, or asserted with respect to ownership of the Receivables, or federal or
other income taxes arising out of distributions on the Certificates or the Notes) and costs and expenses in defending against the same. 
 (b) The Depositor shall indemnify, defend and hold harmless the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders and the Swap Counterparty, if any, and any
of the officers, directors, employees and agents of the Issuing Entity, the Owner Trustee and the Indenture Trustee from and against any loss, liability or reasonable and documented expense incurred by reason of the Depositor’s willful
misfeasance, bad faith or negligence (except for errors in judgment) in the performance of its duties under this Agreement, or by reason of reckless disregard of its obligations and duties under this Agreement. 

(c) The Depositor shall indemnify, defend and hold harmless the Owner Trustee and the Indenture Trustee and their respective officers,
directors, employees and agents from and against all reasonable and documented cost and expense, and all other losses, claims, damages and liabilities arising out of or incurred in connection with the acceptance or performance of the trusts and
duties herein and in the Trust Agreement, in the case of the Owner Trustee, and in the Indenture, in the case of the Indenture Trustee, except to the extent that such cost, expense, loss, claim, damage or liability: (i) in the case of the Owner
Trustee, shall be due to the willful misfeasance, bad faith or negligence (except for errors in judgment) of the Owner Trustee or, in the case of the Indenture Trustee, shall be due to the willful misfeasance, bad faith or negligence (except for
errors in judgment) of the Indenture Trustee or (ii) in the case of the Owner Trustee, shall arise from the breach by the Owner Trustee of any of its representations or warranties set forth in Section 7.03 of the Trust Agreement.

 (d) The Depositor shall pay any and all taxes levied or assessed upon all or any part of the Owner Trust Estate. 

Indemnification under this Section shall survive the resignation or removal of the Owner Trustee or the Indenture Trustee and the
termination of this Agreement and the Trust Agreement and shall include reasonable and documented fees and expenses of counsel and expenses of litigation. If the Depositor shall have made any indemnity payments pursuant to this Section and the
Person to or on behalf of whom such payments are made thereafter shall collect any of such amounts from others, such Person shall promptly repay such amounts to the Depositor, without interest. 

  
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 Notwithstanding anything to the contrary contained in this Agreement or any other document,
the obligations of the Depositor under this Section 6.03 and Section 7.5 of the Depositor’s Limited Liability Company Agreement are solely the company obligations of the Depositor and shall be payable by it
(x) solely from funds distributed to it in its capacity as Certificateholder available pursuant to, and in accordance with, the payment priorities set forth in Section 5.06 of this Agreement and (z) only to the extent that it
receives additional funds designated for such purposes or to the extent it has additional funds available (other than funds described in preceding clause (x)). In addition, no amount owing by the Depositor hereunder or under
Section 7.5 of its Limited Liability Company Agreement in excess of the liabilities that it is required to pay in accordance with the preceding sentence shall constitute a “claim” (as defined in Section 101(5) of
the Bankruptcy Code) against it. No recourse shall be had for the payment of any amount owing hereunder or under Section 7.5 of the Depositor’s Limited Liability Company Agreement or any other obligation of, or claim against, the
Depositor, arising out of or based upon this Section 6.03 or under Section 7.5 of its Limited Liability Company Agreement against any employee, officer, agent, directed or authorized person of the Depositor; provided,
however, that the foregoing shall not relieve any such person or entity of any liability they might otherwise have as a result of fraudulent actions or omissions taken by them. 

Section 6.04 Merger or Consolidation of, or Assumption of Obligations of Depositor. Any Person (a) into which the
Depositor may be merged or consolidated, (b) which may result from any merger or consolidation to which the Depositor shall be a party or (c) which may succeed to the properties and assets of the Depositor substantially as a whole, which
person in any of the foregoing cases executes an agreement of assumption to perform every obligation of the Depositor under this Agreement, shall be the successor to the Depositor hereunder without the execution or filing of any document or any
further act by any of the parties to this Agreement; provided, however, that (i) immediately after giving effect to such transaction, no representation or warranty made pursuant to Section 3.01 shall have been breached
and no Servicer Default in respect of the Depositor under Section 8.01(b) or (c) shall have occurred and be continuing, and no event that, after notice or lapse of time, or both, would become a Servicer Default in respect of
the Depositor under Section 8.01(b) or (c) shall have occurred and be continuing, (ii) the Depositor shall have delivered to the Owner Trustee and the Indenture Trustee an Officers’ Certificate stating that such
consolidation, merger or succession and such agreement of assumption comply with this Section and that all conditions precedent, if any, provided for in this Agreement relating to such transaction have been complied with, (iii) the Rating
Agency Condition shall have been satisfied with respect to such transaction and (iv) the Depositor shall have delivered to the Owner Trustee and the Indenture Trustee an Opinion of Counsel either (A) stating that, in the opinion of such
counsel, all financing statements and continuation statements and amendments thereto have been filed that are necessary fully to preserve and protect the interest of the Owner Trustee and Indenture Trustee, respectively, in the Receivables and
reciting the details of such filings, or (B) stating that, in the opinion of such counsel, no such action shall be necessary to preserve and protect such interests. Notwithstanding anything herein to the contrary, (a) the execution of the
foregoing agreement of assumption and compliance with clauses (i), (ii), (iii) and (iv) above shall be conditions to the consummation of the transactions referred to in clause (a), (b) or
(c) above and (b) the Depositor may transfer its rights under this Agreement in accordance with Section 4.15 hereof. 
 Section 6.05 Limitation on Liability of Depositor and Others. The Depositor and any director, officer, employee or agent of the Depositor may rely in good faith on the advice of counsel or on
any document of any kind, prima facie properly executed and submitted by any 

  
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Person respecting any matters arising hereunder. The Depositor shall not be under any obligation to appear in, prosecute or defend any legal action that shall not be incidental to its obligations
under this Agreement, and that in its opinion may involve it in any expense or liability. 
 Section 6.06 Depositor May
Own Notes. The Depositor and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Notes with the same rights as it would have if it were not the Depositor or an Affiliate thereof, except as expressly
provided herein or in any Basic Document. 
 Section 6.07 Security Interest. During the term of this Agreement, the
Depositor will not take any action to assign the security interest in any Financed Vehicle other than pursuant to the Basic Documents. 
 ARTICLE VII 
 THE SERVICER 

Section 7.01 Representations of Servicer. The Servicer makes the following representations on which the Issuing Entity is
deemed to have relied in acquiring the Receivables. The representations speak as of the Closing Date, and shall survive the sale of the Receivables from time to time to the Issuing Entity and the pledge thereof to the Indenture Trustee pursuant to
the Indenture. 
 (a) Organization and Good Standing. The Servicer is duly organized and validly existing as a
corporation in good standing under the laws of the state of its incorporation, with the corporate power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted,
and had at all relevant times, and has, the corporate power, authority and legal right to acquire, own, sell and service the Receivables and to hold the Receivable Files as custodian. 

(b) Due Qualification. The Servicer is duly qualified to do business as a foreign corporation in good standing, and has obtained
all necessary material licenses and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business (including the servicing of the Receivables as required by this Agreement) shall require such
qualifications, except where the failure to be so qualified or to have obtained such licenses or approvals would not have a material adverse effect on the Servicer’s earnings, business affairs or business prospects. 

(c) Power and Authority. The Servicer has the corporate power and authority to execute and deliver this Agreement and to carry out
its terms; and the execution, delivery and performance of this Agreement have been duly authorized by the Servicer by all necessary corporate action. 
 (d) Binding Obligation. This Agreement constitutes a legal, valid and binding obligation of the Servicer enforceable against the Servicer in accordance with its terms, except as such enforceability
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws, now or hereafter in effect, affecting the enforcement of creditors’ rights in general, and except as such enforceability may be limited by
general principles of equity (whether considered in a suit at law or in equity). 

  
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 (e) No Violation. The consummation of the transactions contemplated by this Agreement
and the fulfillment of the terms hereof do not (i) conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under, the articles of incorporation or bylaws of
the Servicer; (ii) breach, conflict with or violate any of the material terms or provisions of, or constitute (with or without notice or lapse of time) a default under, any indenture, agreement or other instrument to which the Servicer is a
party or by which it is bound; (iii) result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement or other instrument (other than pursuant to this Agreement and the Basic
Documents); or, (iv) to the best of the Servicer’s knowledge, violate any order, rule or regulation applicable to the Servicer of any court or of any federal or state regulatory body, administrative agency or other governmental
instrumentality having jurisdiction over the Servicer or its properties except, in the case of clauses (ii), (iii) and (iv), for such breaches, defaults, conflicts, liens or violations that would not have a material adverse
effect on the Servicer’s earnings, business affairs or business prospects. 
 (f) No Proceedings. To the
Servicer’s best knowledge, there are no proceedings or investigations pending or threatened before any court, regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Servicer or its properties:
(i) asserting the invalidity of this Agreement, the Indenture, any of the other Basic Documents, the Notes or the Certificates, (ii) seeking to prevent the issuance of the Notes or the Certificates or the consummation of any of the
transactions contemplated by this Agreement, the Indenture or any of the other Basic Documents, (iii) seeking any determination or ruling that could reasonably be expected to materially and adversely affect the performance by the Servicer of
its obligations under, or the validity or enforceability of, this Agreement, the Indenture, any of the other Basic Documents, the Notes or the Certificates or (iv) relating to the Servicer and which could reasonably be expected to adversely
affect the federal or state income tax attributes of the Notes or the Certificates. 
 (g) Approvals. All approvals,
licenses, authorizations, consents, orders or other actions of any person, corporation or other organization, or of any court, governmental agency or body or official, required in connection with the execution and delivery of this Agreement have
been or will be taken or obtained on or prior to the Closing Date, except where failure to obtain the same would not have a material adverse effect upon the rights of the Depositor, the Trust, the Noteholders or the Certificateholders. 

Section 7.02 Indemnities of Servicer. The Servicer shall be liable in accordance herewith only to the extent of the
obligations specifically undertaken by the Servicer under this Agreement: 
 (a) The Servicer shall indemnify, defend and hold
harmless the Issuing Entity, the Owner Trustee, the Swap Counterparty, if any, the Indenture Trustee, the Noteholders, the Certificateholders and the Depositor and any of the officers, directors, employees and agents of the Issuing Entity, the Owner
Trustee and the Indenture Trustee from and against any and all reasonable and documented costs and expenses, and all other losses, damages, claims and liabilities arising out of or resulting from the use, ownership or operation by the Servicer or
any Affiliate thereof of a Financed Vehicle. 

  
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 (b) The Servicer shall indemnify, defend and hold harmless the Issuing Entity, the Owner
Trustee, the Indenture Trustee, the Swap Counterparty, if any, the Depositor, the Certificateholders and the Noteholders and any of the officers, directors, employees and agents of the Issuing Entity, the Owner Trustee and the Indenture Trustee from
and against any and all costs, expenses, losses, claims, damages and liabilities to the extent that such cost, expense, loss, claim, damage or liability arose out of, or was imposed upon any such Person through, the willful misfeasance, bad faith or
negligence (except for errors in judgment) of the Servicer in the performance of its duties under this Agreement or by reason of reckless disregard of its obligations and duties under this Agreement. 

For purposes of this Section, in the event of the termination of the rights and obligations of World Omni (or any successor thereto
pursuant to Section 7.03) as Servicer pursuant to Section 8.01, or a resignation by such Servicer pursuant to this Agreement, such Servicer shall be deemed to be the Servicer pending appointment of a successor Servicer (other
than the Indenture Trustee) pursuant to Section 8.02. 
 Indemnification under this Section shall survive the
resignation or removal of the Owner Trustee or the Indenture Trustee or the termination of this Agreement and the Trust Agreement and shall include reasonable fees and expenses of counsel and expenses of litigation. If the Servicer shall have made
any indemnity payments pursuant to this Section and the Person to or on behalf of whom such payments are made thereafter collects any of such amounts from others, such Person shall promptly repay such amounts to the Servicer, without interest.

 Section 7.03 Merger or Consolidation of, or Assumption of Obligations of, Servicer. The Servicer shall not
consolidate with or merge into any other corporation or convey or transfer its properties and assets substantially as an entirety to any Person, unless: 
 (a) the entity formed by such consolidation or into which the Servicer is merged or the Person which acquires by conveyance or transfer the properties and assets of the Servicer substantially as an
entirety shall be an entity organized and existing under the laws of the United States of America or the District of Columbia and, if the Servicer is not the surviving entity, such entity shall assume, without the execution or filing of any paper or
further act on the part of any of the parties hereto, the performance of every covenant and obligation of the Servicer hereunder; and 
 (b) the Servicer has delivered to the Owner Trustee and the Indenture Trustee and Officer’s Certificate and an Opinion of Counsel each stating that such consolidation, merger, conveyance or transfer
will comply with this Section 7.03 and that all conditions precedent herein provided for relating to such transaction have been complied with. 
 The Servicer shall provide notice of any merger, consolidation or succession pursuant to this Section 7.03 to the Rating Agencies, the Owner Trustee, the Depositor and the Indenture Trustee.

  
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 Section 7.04 Limitation on Liability of Servicer and Others. Neither the
Servicer nor any of the directors, officers, employees or agents of the Servicer shall be under any liability to the Issuing Entity, the Noteholders or the Certificateholders, except as provided under this Agreement, for any action taken or for
refraining from the taking of any action pursuant to this Agreement or for errors in judgment; provided, however, that this provision shall not protect the Servicer or any such person against any liability that would otherwise
be imposed by reason of willful misfeasance, bad faith or negligence in the performance of duties or by reason of reckless disregard of obligations and duties under this Agreement. The Servicer and any director, officer, employee or agent of the
Servicer may rely in good faith on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising under this Agreement. 
 Except as provided in this Agreement, the Servicer shall not be under any obligation to appear in, prosecute or defend any legal action that shall not be incidental to its duties to service the
Receivables in accordance with this Agreement and that in its opinion may involve it in any expense or liability; provided, however, that the Servicer may undertake any reasonable action that it may deem necessary or desirable
in respect of this Agreement and the Basic Documents and the rights and duties of the parties to this Agreement and the Basic Documents and the interests of the Certificateholders under this Agreement and the Noteholders under the Indenture.

 Section 7.05 World Omni Not To Resign as Servicer. Subject to the provisions of Section 7.03, World
Omni shall not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon a determination that the performance of its duties under this Agreement shall no longer be permissible under applicable law and
cannot be cured. Notice of any such determination permitting the resignation of World Omni shall be communicated to the Owner Trustee and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, shall be
confirmed in writing at the earliest practicable time) and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Owner Trustee and the Indenture Trustee concurrently with or promptly after such notice. No
such resignation shall become effective until the Indenture Trustee or a successor Servicer shall have assumed the responsibilities and obligations of World Omni in accordance with Section 8.02. 

ARTICLE VIII 
 DEFAULT 
 Section 8.01 Servicer Default. Any one of the
following events shall constitute a default by the Servicer (a “Servicer Default”): 
 (a) any failure by the
Servicer to deliver to the Indenture Trustee for deposit in any of the Trust Accounts or distribution to the Certificateholders any required payment or to direct the Indenture Trustee to make any required distributions therefrom, which failure
continues unremedied for a period of five Business Days after written notice of such failure is received by the Servicer from the Owner Trustee or the Indenture Trustee or after discovery of such failure by an officer of the Servicer; or 

  
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 (b) failure by the Servicer or, if the Servicer is an affiliate of the Depositor, the
Depositor, as the case may be, duly to observe or to perform in any material respect any other covenants or agreements of the Servicer or the Depositor (as the case may be) set forth in this Agreement or any other Basic Document, which failure shall
(i) materially and adversely affect the rights of Certificateholders or Noteholders and (ii) continue unremedied for a period of 60 days after the date on which written notice of such failure, requiring the same to be remedied, shall have
been given (A) to the Servicer or the Depositor (as the case may be) by the Owner Trustee or the Indenture Trustee or (B) to the Servicer or the Depositor (as the case may be), and to the Owner Trustee and the Indenture Trustee by the
Holders of the Notes evidencing not less than 50% of the Outstanding Amount of the Controlling Securities and the Holders (as defined in the Trust Agreement) of Certificates evidencing not less than 50% of the percentage interest of the
Certificates; or 
 (c) the occurrence of an Insolvency Event with respect to the Servicer or, if the Servicer is an affiliate
of the Depositor, the Depositor. 
 Notwithstanding the foregoing, a delay in or failure of performance referred to under
clause (a) above for a period of ten Business Days or referred to under clause (b) for a period of 90 Business Days, shall not constitute a Servicer Default if such delay or failure could not be prevented by the exercise of
reasonable diligence by the Servicer and was caused by an act of God or other similar occurrence. Upon the occurrence of any such event, the Servicer shall not be relieved from using its best efforts to perform its obligations in a timely manner in
accordance with the terms of this Agreement and the Servicer shall provide the Indenture Trustee, the Owner Trustee, the Noteholders and the Certificateholders prompt notice of such failure or delay by it, together with a description of its efforts
to so perform its obligations. 
 So long as the Servicer Default shall not have been remedied or stayed by the application of
the above paragraph, either the Indenture Trustee or the Holders of the Notes evidencing not less than 50% of the Outstanding Amount of the Controlling Securities, by notice then given in writing to the Servicer (and to the Indenture Trustee and the
Owner Trustee if given by the Noteholders) may terminate all the rights and obligations (other than the obligations set forth in Section 7.02 hereof) of the Servicer under this Agreement. On or after the receipt by the Servicer of such
written notice, all authority and power of the Servicer under this Agreement, whether with respect to the Notes, the Certificates or the Receivables or otherwise, shall, without further action, pass to and be vested in the Indenture Trustee or such
successor Servicer as may be appointed under Section 8.02; and, without limitation, the Indenture Trustee and the Owner Trustee are hereby authorized and empowered to execute and deliver, for the benefit of the predecessor Servicer, as
attorney-in-fact or otherwise, any and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and
endorsement of the Receivables and related documents, or otherwise. The predecessor Servicer shall cooperate with the successor Servicer, the Indenture Trustee and the Owner Trustee in effecting the termination of the responsibilities and rights of
the predecessor Servicer under this Agreement, including the transfer to the successor Servicer for administration by it of all cash amounts that shall at the time be held by the predecessor Servicer for deposit, or shall thereafter be received by
it with respect to any Receivable. Further, in such event, the Servicer shall use commercially reasonable efforts to effect the orderly and efficient transfer of the servicing of the Receivables

  
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to the successor Servicer, and as promptly as practicable, the Servicer shall provide to the successor Servicer a current computer tape containing all information from the Receivables Files
required for the proper servicing of the Receivables, together with the documentation containing any and all information necessary for the use of the tape. All reasonable and documented costs and expenses (including attorneys’ fees) incurred in
connection with transferring the Receivable Files to the successor Servicer and amending this Agreement to reflect such succession as Servicer pursuant to this section shall be paid by the predecessor Servicer upon presentation of reasonable
documentation of such costs and expenses. Upon receipt of notice of the occurrence of a Servicer Default, the Owner Trustee shall give notice thereof to the Depositor who promptly shall provide such notice to the Rating Agencies. 

Section 8.02 Appointment of Successor. 
 (a) Upon the Servicer’s receipt of notice of termination pursuant to Section 8.01 or the Servicer’s resignation in accordance with the terms of this Agreement, the predecessor
Servicer shall continue to perform its functions as Servicer under this Agreement, in the case of termination, only until the date specified in such termination notice or, if no such date is specified in a notice of termination, until receipt of
such notice and, in the case of resignation, until the later of (i) the date 45 days from the delivery to the Owner Trustee and the Indenture Trustee of written notice of such resignation (or written confirmation of such notice) in accordance
with the terms of this Agreement and (ii) the date upon which the predecessor Servicer shall become unable to act as Servicer, as specified in the notice of resignation and accompanying Opinion of Counsel. In the event of the Servicer’s
termination hereunder, the Indenture Trustee shall appoint a successor Servicer, and the successor Servicer shall accept its appointment by a written assumption in form acceptable to the Owner Trustee and the Indenture Trustee. In the event that a
successor Servicer has not been appointed at the time when the predecessor Servicer has ceased to act as Servicer in accordance with this Section, the Indenture Trustee without further action shall automatically be appointed the successor Servicer
and the Indenture Trustee shall be entitled to the Servicing Fee. Notwithstanding the above, the Indenture Trustee shall, if it shall be legally unable so to act, appoint or petition a court of competent jurisdiction to appoint any established
institution, having a net worth of not less than $100,000,000 and whose regular business shall include the servicing of automotive receivables, as the successor to the Servicer under this Agreement. 

(b) Upon appointment, the successor Servicer (including the Indenture Trustee acting as successor Servicer) shall be the successor in all
respects to the predecessor Servicer and shall be subject to all the responsibilities, duties and liabilities arising thereafter relating thereto placed on the predecessor Servicer and shall be entitled to the Servicing Fee and all the rights
granted to the predecessor Servicer by the terms and provisions of this Agreement. 
 (c) The successor Servicer may not resign
unless it is prohibited from serving as such by law. 
 Section 8.03 Notification to Noteholders and
Certificateholders. Upon any termination of, or appointment of a successor to, the Servicer pursuant to this Article VIII, the Indenture Trustee shall give prompt written notice thereof to Noteholders, the Certificateholders and the
Depositor who promptly shall provide such notice to the Rating Agencies. 

  
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 Section 8.04 Waiver of Past Defaults. The Holders of Notes evidencing not less
than 50% of the Outstanding Amount of the Controlling Securities may, on behalf of all Noteholders, waive in writing any default by the Servicer in the performance of its obligations hereunder and its consequences, except a default in making any
required deposits to or payments from any of the Trust Accounts or to the Certificateholders in accordance with this Agreement. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Default arising therefrom
shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereto. 

Section 8.05 Payment of Servicing Fees; Repayment of Advances. If the Servicer shall change, the predecessor Servicer shall
be entitled to (i) receive any accrued and unpaid Servicing Fees through the date of such Successor Servicer’s acceptance hereunder in accordance with Section 4.08 and (ii) reimbursement for Outstanding Advances pursuant
to Section 5.08 with respect to all Advances made by the predecessor Servicer. 
 ARTICLE IX 

TERMINATION 
 Section 9.01 Optional Purchase of All Receivables. 
 (a) On the
Payment Date immediately following (and on each Payment Date thereafter) the last day of any Collection Period as of which the then outstanding Pool Balance is 10% or less of the Aggregate Starting Principal Balance, the Servicer shall have the
option to purchase the Owner Trust Estate, other than the Trust Accounts. To exercise such option, the Servicer shall deposit pursuant to Section 5.05 in the Collection Account an amount equal to the aggregate Purchase Amount for the
Receivables (including Defaulted Receivables), and shall succeed to all interests in and to the Trust. Notwithstanding the foregoing, the Servicer shall not be permitted to exercise such option unless the amount to be deposited in the Collection
Account pursuant to the preceding sentence is greater than or equal to the sum of the Outstanding Amount of the Notes, all accrued but unpaid interest (including any overdue interest and premium) thereon and all amounts owing to the Swap
Counterparty under the Interest Rate Swaps, if any. 
 (b) As described in Article IX of the Trust Agreement, notice of
any termination of the Trust shall be given by the Servicer to the Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. 

(c) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the
Certificateholders will succeed to the rights of the Noteholders hereunder other than Section 5.07(b) and the Owner Trustee will succeed to the rights of, and assume the obligations of, the Indenture Trustee pursuant to this Agreement.

  
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 ARTICLE X 
 MISCELLANEOUS 
 Section 10.01 Amendment. 

(a) This Agreement may be amended by the Depositor, the Servicer and the Issuing Entity, with the consent of the Indenture Trustee, but
without the consent of any of the Noteholders or the Certificateholders, to cure any ambiguity or to correct or supplement any provisions in this Agreement or for the purpose of adding any provisions to or changing in any manner or eliminating any
of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders or the Certificateholders; provided that such amendments require: (i) satisfaction of the Rating Agency Condition and (ii) an
Officer’s Certificate of the Servicer stating that the amendment will not materially and adversely affect the interest of any Noteholder or Certificateholder. 
 (b) This Agreement may also be amended from time to time by the Depositor, the Servicer and the Issuing Entity, with the consent of the Indenture Trustee, the consent of Holders of Notes evidencing not
less than 50% of the Outstanding Amount of the Controlling Securities (unless (i) the interests of the Noteholders are not affected materially and adversely, (ii) an Officer’s Certificate of the Servicer to that effect is delivered to
the Indenture Trustee by the Depositor and (iii) satisfaction of the Rating Agency Condition) and the consent of the Holders (as defined in the Trust Agreement) of Certificates evidencing not less than 50% of the percentage interest of the
Certificates (unless (i) the interests of the Certificateholders are not affected materially and adversely and (ii) an Officer’s Certificate of the Servicer to that effect is delivered to the Owner Trustee by the Depositor) 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; provided, however, that no such amendment
shall (a) change the date of payment of any installment of principal of or interest on any Note, or reduce the principal amount thereof, (b) change the provisions of this Sale and Servicing Agreement relating to the application of
collections on, or the proceeds of the sale of, the Trust Estate to payment of principal of or interest on the Notes or (c) reduce the consent percentages in this sentence, without the consent of the Holders of all outstanding Notes and the
Holders (as defined in the Trust Agreement) of all the outstanding Certificates affected thereby. 
 (c) Promptly after the
execution of any such amendment or consent, the Servicer shall furnish written notification of the substance of such amendment or consent to each Certificateholder, the Indenture Trustee, the Owner Trustee and each of the Rating Agencies.

 (d) It shall not be necessary for the consent of Certificateholders or Noteholders pursuant to this Section to approve the
particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof. 
 (e) Prior to the execution of any amendment to this Agreement, the Owner Trustee, on behalf of the Issuing Entity, 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 that all conditions precedent thereto have been satisfied, and the Opinion of Counsel referred to in Section 10.02(h)(A).
The Owner Trustee and the Indenture Trustee may, but shall not be obligated to, enter into any such amendment which affects the Owner Trustee’s or the Indenture Trustee’s, as applicable, own rights, duties or immunities under this
Agreement or otherwise. 

  
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 (f) Notwithstanding any other provision of this Agreement, no amendment to this Agreement
shall be effective unless the Swap Counterparty, if any, consents in writing to such amendment or such amendment will, as evidenced by a Materiality Opinion, have no material adverse effect on the interests of the Swap Counterparty, if any;
provided, however, that if an amendment is entered into pursuant to Section 10.01(a), in lieu of providing a Materiality Opinion, the Servicer may provide an Officers’ Certificate stating that such amendment will have
no material adverse effect on the interests of the Swap Counterparty, if any. 
 Section 10.02 Protection of Title to
Trust. 
 (a) The Depositor shall file such financing statements and cause to be filed such continuation statements, all in
such manner and in such places as may be required by law fully to preserve, maintain and protect the interest of the Issuing Entity and of the Indenture Trustee in the Receivables and in the proceeds thereof. The Depositor hereby authorizes the
filing of such financing statements and hereby ratifies any such financing statements filed prior to the date hereof. The Depositor shall deliver (or cause to be delivered) to the Owner Trustee and the Indenture Trustee file-stamped copies of, or
filing receipts for, any document filed as provided above, as soon as available following such filing. 
 (b) Neither the
Depositor nor the Servicer shall change its name, identity or corporate structure in any manner that could reasonably be expected to make any financing statement or continuation statement filed in accordance with paragraph (a) above
seriously misleading within the meaning of Section 9-506 of the UCC, unless it shall have given the Owner Trustee and the Indenture Trustee at least five days’ prior written notice thereof and shall have promptly filed appropriate
amendments to all previously filed financing statements or continuation statements. 
 (c) Each of the Depositor and the
Servicer shall have an obligation to give the Owner Trustee and the Indenture Trustee at least 60 days’ prior written notice of any relocation of its principal executive office or a change in its jurisdiction of organization if, as a result of
such relocation or change in its jurisdiction of organization, the applicable provisions of the UCC would require the filing of any amendment of any previously filed financing or continuation statement or of any new financing statement and shall
promptly file any such amendment or new financing statement. The Servicer shall at all times maintain each office from which it shall service Receivables, and its principal executive office, within the United States of America. 

(d) The Servicer shall maintain accounts and records as to each Receivable accurately and in sufficient detail to permit (i) the
reader thereof to know at any time the status of such Receivable, including payments and recoveries made and payments owing (and the nature of each) and (ii) reconciliation between payments or recoveries on (or with respect to) each Receivable
and the amounts from time to time deposited in the Collection Account in respect of such Receivable. 
 (e) The Servicer shall
maintain its computer systems so that, within five (5) Business Days from and after the time of sale under this Agreement of the Receivables, the Servicer’s master computer records (including any backup archives) that refer to a Receivable
shall indicate clearly that such Receivable has been sold to the Issuing Entity. 

  
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 (f) If at any time the Depositor or the Servicer shall propose to sell, grant a security
interest in, or otherwise transfer any interest in automotive receivables to any prospective purchaser, lender or other transferee, the Servicer shall give to such prospective purchaser, lender or other transferee computer tapes, records or
printouts (including any restored from backup archives) that, if they shall refer in any manner whatsoever to any Receivable, shall indicate clearly that such Receivable has been sold and is owned by the Issuing Entity and has been pledged to the
Indenture Trustee. 
 (g) Upon request, the Servicer shall furnish to the Owner Trustee or to the Indenture Trustee, within five
Business Days, a list of all Receivables (by contract number and name of Obligor) then held as part of the Trust. 
 (h) The
Servicer shall deliver to the Owner Trustee and the Indenture Trustee: 
 (A) promptly after the execution and
delivery of this Agreement, an Opinion of Counsel stating that, in the opinion of such counsel, either (1) all financing statements and continuation statements have been filed that are necessary fully to preserve and protect the interest of the
Trust and the Indenture Trustee in the Receivables, and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (2) no such action shall be necessary to preserve and protect such
interest other than any action necessary (as of the date of such opinion) to be taken in the following year to preserve and protect such interest; and 
 (B) on or before March 31, in each calendar year, beginning in 2014, an Opinion of Counsel, dated as of a date during such 90-day period, stating that, in the opinion of such counsel, either
(1) all financing statements and continuation statements have been filed that are necessary fully to preserve and protect the interest of the Trust and the Indenture Trustee in the Receivables, and reciting the details of such filings or
referring to prior Opinions of Counsel in which such details are given, or (2) no such action shall be necessary to preserve and protect such interest other than any action necessary (as of the date of such opinion) to be taken in the following
year to preserve and protect such interest. 
 Each Opinion of Counsel referred to in clause (A)(2) or (B)(2)
above shall specify any action necessary (as of the date of such opinion) to be taken in the following year to preserve and protect such interest. 
 (i) The Depositor shall, to the extent required by applicable law, cause the Notes to be registered with the Commission pursuant to Section 12(b) or Section 12(g) of the Exchange Act within the
time periods specified in such sections. 
 (j) The Servicer shall deliver to the Owner Trustee and the Indenture Trustee, prior
to any change in the location of the Receivable Files, an Opinion of Counsel stating that, in the opinion of such counsel, either (i) all financing statements and continuation statements have been filed that are necessary fully to preserve and
protect the interest of the Trust and the Indenture Trustee in the Receivables, and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (ii) no such action shall be necessary to
preserve and protect such interest. 

  
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 Section 10.03 Notices. All demands, deliveries, notices, communications and
instructions upon or to the Depositor, the Servicer, the Owner Trustee, the Swap Counterparty, if any, the Indenture Trustee or the Rating Agencies under this Agreement shall be by facsimile, in writing, personally delivered or mailed by certified
mail, return receipt requested, and shall be deemed to have been duly given upon receipt, or, in the case of deliveries pursuant to Sections 4.10(b) and (c), 4.11(a) and (b) or 5.08, to the Swap Counterparty,
if any, the Owner Trustee, the Indenture Trustee or the Rating Agencies, by electronic mail (a) in the case of the Depositor, to World Omni Auto Receivables LLC, 190 Jim Moran Boulevard, Deerfield Beach, Florida 33442, Telecopy:
(954) 429-2685, Attention: Treasurer, (b) in the case of the Servicer, World Omni Financial Corp., 190 Jim Moran Boulevard, Deerfield Beach, Florida 33442, Telecopy: (954) 429-2685, Attention: Treasurer, (c) in the case of the
Issuing Entity or the Owner Trustee, at its Corporate Trust Office, Email: patricia.child@usbank.com, Telecopy: (312) 332-7996, (d) in the case of the Indenture Trustee, at its Corporate Trust Office, Email: Irene.siegel@db.com,
(e) in the case of the Rating Agencies, to the Depositor who promptly shall post such notice to the website maintained by the Depositor for notifications to nationally recognized statistical rating organizations, and (f) in the case of the
Swap Counterparty, if any, to [RESERVED]; or, as to each of the foregoing, at such other address as shall be designated by written notice to the other parties. 
 Section 10.04 Assignment by the Depositor or the Servicer. Notwithstanding anything to the contrary contained herein, except as provided in the remainder of this Section, as provided in
Sections 6.04 and 7.03 herein and as provided in the provisions of this Agreement concerning the resignation of the Servicer, this Agreement may not be assigned by the Depositor or the Servicer. 

Section 10.05 Limitations on Rights of Others. The provisions of this Agreement are solely for the benefit of the Depositor,
the Servicer, the Issuing Entity, the Owner Trustee, the Certificateholders, 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 Owner Trust Estate or under or in respect of this Agreement or any covenants, conditions or provisions contained herein, provided, however, that the Swap Counterparty, if any shall be a third-party
beneficiary to this Agreement, but only to the extent that it has rights specified herein or rights with respect to this Agreement specified under the Swap Counterparty Rights Agreement. 

Section 10.06 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 10.07 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, but all such counterparts shall together constitute but one and the same instrument. 

  
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 Section 10.08 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 10.09
Governing Law. This Agreement shall be construed in accordance with the laws of the State of New York, without regard to any otherwise applicable conflict of law provisions, and the obligations, rights and remedies of the parties hereunder
shall be determined in accordance with such laws. 
 Section 10.10 Assignment by Issuing Entity. Each of World Omni
and the Depositor hereby acknowledges and consents to any mortgage, pledge, assignment and grant of a security interest by the Issuing Entity to the Indenture Trustee pursuant to the Indenture for the benefit of the Noteholders of all right, title
and interest of the Issuing Entity in, to and under the Receivables and/or the assignment of any or all of the Issuing Entity’s rights and obligations hereunder to the Indenture Trustee. 

Section 10.11 Nonpetition Covenants. 
 (a) Notwithstanding any prior termination of this Agreement, the Servicer and the Depositor shall not, prior to the date which is one year and one day after the termination of this Agreement with respect
to the Issuing Entity, acquiesce, petition or otherwise invoke or cause the Issuing Entity to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Issuing Entity under any federal or
state bankruptcy, insolvency or similar law, or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuing Entity or any substantial part of their property, or ordering the winding up or
liquidation of the affairs of the Issuing Entity. 
 (b) Notwithstanding any prior termination of this Agreement, the Servicer,
solely in its capacity as a creditor of the Depositor, shall not, prior to the date which is one year and one day after the termination of this Agreement with respect to the Depositor, acquiesce, petition or otherwise invoke the process of any court
or government authority for the purpose of commencing or sustaining an involuntary case against the Depositor under any federal or state bankruptcy, insolvency or similar law, or appointing a receiver, liquidator, assignee, trustee, custodian,
sequestrator or other similar official of the Depositor or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Depositor. 
 (c) In the event that any Person (other than the Depositor) is deemed, under applicable law by any court or other authority of competent jurisdiction, to have an interest in any assets of the Depositor or
any Affiliate of the Depositor other than the beneficial interest in the Trust (“other assets”), the parties to this Agreement acknowledge and agree that: (i) such Person’s claim is against the assets of the Trust and the
Trust Estate only, (ii) such Person’s claim against any other assets shall be, and hereby is, subject and subordinate in all respects to the rights of other Persons to whom rights in the other assets have been expressly granted
(“entitled Persons”), including to the payment in full of all amounts owing to such entitled Persons, and (iii) the covenant set forth in the preceding clause (ii) constitutes a “subordination agreement”
within the meaning of, and subject to, Section 510(a) of the Bankruptcy Code. 

  
 41 

 Section 10.12 Limitation of Liability of Owner Trustee and Indenture Trustee.

 (a) It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by the
Trustee Bank, not individually or personally but solely as Owner Trustee, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (ii) each of the representations, undertakings and agreements herein
made on the part of the Issuing Entity is made and intended not as personal representations, undertakings and agreements by the Trustee Bank, but is made and intended for the purpose of binding only the Issuing Entity, (iii) nothing herein
contained shall be construed as creating any liability on the Trustee Bank, individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, contained herein, all such liability of the Trustee Bank in its
individual or personal capacity, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto and (iv) under no circumstances shall the Trustee Bank be personally liable for the payment
of any indebtedness or expenses of the Issuing Entity under this Agreement or any other related documents. For all purposes of this Agreement, in the performance of its duties or obligations hereunder or in the performance of any duties or
obligations of the Issuing Entity hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VI, VII and VIII of the Trust Agreement and the Administration Agreement.

 (b) Notwithstanding anything contained herein to the contrary, this Agreement has been accepted by Deutsche Bank Trust
Company Americas, not in its individual capacity but solely as Indenture Trustee and in no event shall Deutsche Bank Trust Company Americas have any liability for the representations, warranties, covenants, agreements or other obligations of the
Issuing Entity hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuing Entity. 

Section 10.13 Regulation AB. The Depositor and the Servicer acknowledge and agree that the purpose of this
Section 10.13 is to facilitate compliance by the Depositor with the provisions of Regulation AB and the related rules and regulations of the Commission. The Depositor shall not exercise its right to request delivery of information or
other performance under these provisions other than in good faith, or for purposes other than compliance with the Securities Act, the Exchange Act and the rules and regulations of the Commission under the Securities Act and the Exchange Act. The
Servicer acknowledges that interpretations of the requirements of Regulation AB may change over time, whether due to interpretive guidance provided by the Commission or its staff, consensus among participants in the asset-backed securities markets,
advice of counsel, or otherwise, and the Servicer agrees to comply with all reasonable requests made by the Depositor in good faith for delivery of information and shall deliver (and shall cause each of its Reporting Subcontractors to deliver) to
the Depositor all information and certifications reasonably required by the Depositor to comply with its Exchange Act reporting obligations, including with respect to any of its predecessors or successors. The obligations of a Servicer to provide
such information shall survive the removal or termination of a Servicer as Servicer hereunder. 

  
 42 

 Section 10.14 Notices to the Rating Agencies. If World Omni is no longer the
Servicer, the successor Servicer shall provide any required Rating Agency notices under this Agreement to the Depositor, who promptly shall provide such notices to the Rating Agencies. 

  
 43 

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

			
	WORLD OMNI AUTO RECEIVABLES
	 TRUST 2013-A
  

by: U.S. BANK TRUST NATIONAL

ASSOCIATION,
 not in its individual
capacity
 but solely as Owner Trustee,

		
	By: 	 	 /s/ Patricia M. Child

	Name:	 	Patricia M. Child
	Title:	 	Vice President
	
	 WORLD OMNI AUTO RECEIVABLES LLC,
 as Depositor

		
	By: 	 	 /s/ Charles M. Einhorn

	Name:	 	Charles M. Einhorn
	Title:	 	Assistant Treasurer
	
	WORLD OMNI FINANCIAL CORP., as Servicer
		
	By: 	 	 /s/ Charles M. Einhorn

	Name:	 	Charles M. Einhorn
	Title:	 	Assistant Treasurer

			
	Acknowledged and agreed to as of the day
	and year first above written:
	
	 DEUTSCHE BANK TRUST COMPANY AMERICAS,
 not in its individual capacity but solely as

	Indenture Trustee
		
	By: 	 	 /s/ Irene Siegel

	Name:	 	Irene Siegel
	Title:	 	Vice President
		
	By: 	 	 /s/ Maria Inoa

	Name:	 	Maria Inoa
	Title:	 	Assistant Vice President

  
 45 

 SCHEDULE A 
 Schedule of Receivables 
 Bank Pool Elig. Cat. Elig.
St. Type Account Number APR Orig. Term Rem. Term Sched Rem. Term Mthly. Pmt. Inv. Bal. Dealer Res. 
 [Delivered to the Owner Trustee and Indenture Trustee at Closing] 

  
 Sch. A

 SCHEDULE B 
 Location of Receivable Files 
 World Omni Financial Corp. 

6150 Omni Park Drive 
 Mobile, Alabama 36609 
 and 

RecordMax LLC 

2051 West I-65 Service Rd. N. 
 Mobile, AL 36618 

  
 Sch. B

 EXHIBIT A  
 Form of Distribution Statement to Noteholders  
 World Omni Financial Corp. 

World Omni Auto Receivables Trust 2013-A Payment Date Statement to Noteholders 
 Total Available Funds 
  

			
	Class A-1 Notes:	  	($             per $1,000 original principal amount)
	Class A-2 Notes:	  	($             per $1,000 original principal amount)
	Class A-3 Notes:	  	($             per $1,000 original principal amount)
	Class A-4 Notes:	  	($             per $1,000 original principal amount)
	Class B Notes:	  	($             per $1,000 original principal amount)
		
	Outstanding Amount	  	
	Class A-1 Notes	  	
	Class A-2 Notes	  	
	Class A-3 Notes	  	
	Class A-4 Notes	  	
	Class B Notes	  	
		
	Note Pool Factor	  	
	Class A-1 Notes	  	
	Class A-2 Notes	  	
	Class A-3 Notes	  	
	Class A-4 Notes	  	
	Class B Notes	  	
		
	Servicing Fee	  	
	Servicing Fee Per $1,000 Note
	
	Reserve Account Balance

  
 Ex. A

 EXHIBIT B  
 Form of Servicer’s Certificate 
 World Omni Financial Corp.

 World Omni Auto Receivables Trust 2013-A Monthly Servicer’s Certificate 

World Omni Auto Receivables Trust 2013-A 

Monthly Servicer Certificate 

mm/dd/yyyy 
  

					
	 Dates Covered
	  	 	  	 
	 Collections Period
	  		  	
	 Interest Accrual Period
	  		  	
	 30/360 Days
	  		  	
	 Actual/360 Days
	  		  	
	 Distribution Date
	  		  	
			
	 Collateral Pool Balance Data
	  	$ Amount	  	# of Accounts
	 Pool Balance at mm/dd/yy
	  		  	
	 Yield Supplement Overcollateralization Amount at mm/dd/yy
	  		  	
	 Receivables Balance at mm/dd/yy
	  		  	
	 Principal Payments
	  		  	
	 Defaulted Receivables
	  		  	
	 Repurchased Accounts
	  		  	
	 Yield Supplement Overcollateralization Amount at mm/dd/yy
	  		  	
		  	  
	  	  

	 Pool Balance at mm/dd/yy
	  		  	
		  	  
	  	  

			
	 Pool Statistics
	  	$ Amount	  	# of Accounts
	 Initial Receivables Balance
	  		  	
	 Pre-Funding Contracts added mm/dd/yy
	  		  	
	 Delinquent Receivables:
	  		  	
	 Past Due 31-60 days
	  		  	
	 Past Due 61-90 days
	  		  	
	 Past Due 91 + days
	  		  	
		  	  
	  	  

	 Total
	  		  	
		  	  
	  	  

 Total 31+ Delinquent as % Ending Pool Balance 

  
 Ex. B-1

 Recoveries 
 Aggregate Net Losses—mm/yyyy 
 Overcollateralization Target Amount 

Actual Overcollateralization 
 Weighted Average
APR 
 Weighted Average APR, Yield Adjusted 
 Weighted Average Remaining Term 
  

			
	 Flow of Funds
	  	$ Amount
	 Collections
	  	
	 Advances
	  	
	 Investment Earnings on Cash Accounts
	  	
	 Servicing Fee
	  	
	 Interest Rate Swap Receipt (if any)
	  	
		  	  

	 Available Funds
	  	
		  	  

 Distributions of Available Funds 
  

	 	(1)	Monthly Swap Payment Amount (if any) 

  

	 	(2)	Class A Interest 

  

	 	(3)	Noteholders’ First Priority Principal Distributable Amount 

  

	 	(4)	Class B Interest 

  

	 	(5)	Noteholders’ Second Priority Principal Distributable Amount 

  

	 	(6)	Required Reserve Account 

  

	 	(7)	Noteholders’ Principal Distributable Amount 

  

	 	(8)	Distribution to Certificateholders 

 Total
Distributions of Available Funds 
 Servicing Fee 
 Unpaid Servicing Fee 

  
 Ex. B-2

			
	 Note Balances & Note Factors
	  	$ Amount
	 Original Class A
	  	
	 Original Class B
	  	
	 Total Class A & B
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Principal Paid
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Class A-1
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Principal Paid
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Note Factor @ mm/dd/yy
	  	
	 Class A-2
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Principal Paid
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Note Factor @ mm/dd/yy
	  	
	 Class A-3
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Principal Paid
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Note Factor @ mm/dd/yy
	  	
	 Class A-4
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Principal Paid
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Note Factor @ mm/dd/yy
	  	
	 Class B
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Principal Paid
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Note Factor @ mm/dd/yy
	  	

  
 Ex. B-3

			
	 Interest & Principal Payments
	  	$ Amount
	 Total Interest Paid
	  	
	 Total Principal Paid
	  	
		  	  

	 Total Paid
	  	
		  	  

	 Class A-1
	  	
	 Coupon
	  	
	 Interest Paid
	  	
	 Principal Paid
	  	
		  	  

	 Total Paid to A-1 Holders
	  	
		  	  

	 Class A-2
	  	
	 Coupon
	  	
	 Interest Paid
	  	
	 Principal Paid
	  	
		  	  

	 Total Paid to A-2 Holders
	  	
		  	  

	 Class A-3
	  	
	 Coupon
	  	
	 Interest Paid
	  	
	 Principal Paid
	  	
		  	  

	 Total Paid to A-3 Holders
	  	
		  	  

	 Class A-4
	  	
	 Coupon
	  	
	 Interest Paid
	  	
	 Principal Paid
	  	
		  	  

	 Total Paid to A-4 Holders
	  	
		  	  

	 Class B
	  	
	 Coupon
	  	
	 Interest Paid
	  	
	 Principal Paid
	  	
		  	  

	 Total Paid to B Holders
	  	
		  	  

  
 Ex. B-4

			
	 Distribution per $1,000 of Notes
	  	Total
	 Total Interest Distribution Amount
	  	
	 Total Interest Carryover Shortfall
	  	
	 Total Principal Distribution Amount
	  	
		  	  

	 Total Distribution Amount
	  	
		  	  

	 A-1 Interest Distribution Amount
	  	
	 A-1 Interest Carryover Shortfall
	  	
	 A-1 Principal Distribution Amount
	  	
		  	  

	 Total A-1 Distribution Amount
	  	
		  	  

	 A-2 Interest Distribution Amount
	  	
	 A-2 Interest Carryover Shortfall
	  	
	 A-2 Principal Distribution Amount
	  	
		  	  

	 Total A-2 Distribution Amount
	  	
		  	  

	 A-3 Interest Distribution Amount
	  	
	 A-3 Interest Carryover Shortfall
	  	
	 A-3 Principal Distribution Amount
	  	
		  	  

	 Total A-3 Distribution Amount
	  	
		  	  

	 A-4 Interest Distribution Amount
	  	
	 A-4 Interest Carryover Shortfall
	  	
	 A-4 Principal Distribution Amount
	  	
		  	  

	 Total A-4 Distribution Amount
	  	
		  	  

	 B Interest Distribution Amount
	  	
	 B Interest Carryover Shortfall
	  	
	 B Principal Distribution Amount
	  	
		  	  

	 Total B Distribution Amount
	  	
		  	  

 Noteholders’ First Priority Principal Distributable Amount 
 Noteholders’ Second Priority Principal Distributable Amount 
 Noteholders’ Principal
Distributable Amount 

  
 Ex. B-5

			
	 Account Balances
	  	$ Amount
	 Advances
	  	
	 Balance as of mm/dd/yy
	  	
	 Balance as of mm/dd/yy
	  	
	 Change
	  	
	 Reserve Account
	  	
	 Balance as of mm/dd/yy
	  	
	 Investment Earnings
	  	
	 Investment Earnings paid
	  	
	 Deposit (Withdrawal)
	  	
	 Balance as of mm/dd/yy
	  	
	 Change
	  	
	 Required Reserve Amount
	  	

  
 Ex. B-6

 EXHIBIT C 
 Form of Initial SSA Assignment 
 As of May 29, 2013, for value
received, in accordance with the Sale and Servicing Agreement, dated as of the date hereof (the “Sale and Servicing Agreement”), among World Omni Auto Receivables LLC, a Delaware limited liability company (the
“Depositor”), World Omni Auto Receivables Trust 2013-A (the “Issuing Entity”) and World Omni Financial Corp., a Florida corporation, (the “Servicer”), as acknowledged and accepted by Deutsche Bank
Trust Company Americas, as Indenture Trustee, the Depositor does hereby sell, assign, transfer and otherwise convey unto the Issuing Entity, without recourse, all right, title and interest of the Depositor in, to and under (a) the
Initial Receivables identified on the Schedule of Receivables attached hereto having an aggregate Starting Principal Balance of $940,556,049.13 and all monies received thereon and in respect thereof after the Initial Cutoff Date; (b) the
security interests in, and the liens on, the Financed Vehicles granted by Obligors in connection with the Initial Receivables and any other interest of the Depositor in such Financed Vehicles; (c) any proceeds with respect to the Initial
Receivables from claims on any physical damage, credit life or disability insurance policies covering such Financed Vehicles or Obligors; (d) any Financed Vehicle that shall have secured an Initial Receivable and shall have been acquired by or
on behalf of the Depositor, the Servicer or the Trust; (e) all funds on deposit in, and “financial assets” (as such term is defined in the Uniform Commercial Code as from time to time in effect) credited to, the Trust Accounts,
including the Reserve Account, the Negative Carry Account, if any, and the Pre-Funding Account, if any, from time to time, including the Reserve Account Initial Deposit, any Reserve Account Subsequent Transfer Deposit, the Negative Carry Account
Initial Deposit, if any, and the Pre-Funding Account Initial Deposit, if applicable, and in all investments and proceeds thereof (including all income thereon); (f) the Receivables Purchase Agreement; (g) all “accounts,”
“chattel paper,” “general intangibles” and “promissory notes” (as such terms are defined in the Uniform Commercial Code as from time to time in effect) constituting or relating to the foregoing; and (h) the
proceeds of any and all of the foregoing (including Liquidation Proceeds); provided, however, that the foregoing items (a) through (h) shall not include the Notes and Certificates. 

The foregoing sale does not constitute and is not intended to result in any assumption by the Issuing Entity of any obligation of the
undersigned to the Obligors, Dealers, insurers or any other Person in connection with the Initial Receivables, the agreements with Dealers, any insurance policies or any agreement or instrument relating to any of them. 

This Initial SSA Assignment is made pursuant to and upon the representations, warranties and agreements on the part of the undersigned
contained in the Sale and Servicing Agreement and is to be governed by the Sale and Servicing Agreement. 
 Capitalized terms
used herein and not otherwise defined shall have the meaning assigned to them in the Sale and Servicing Agreement. 
 * * * * *

  
 Ex. C-1

 IN WITNESS WHEREOF, the undersigned has caused this Initial SSA Assignment to be duly
executed as of the day and year first above written. 
  

			
	WORLD OMNI AUTO RECEIVABLES LLC
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 Ex. C-2

 EXHIBIT D 
 Form of Subsequent Transfer SSA Assignment 
 As of
            , for value received, in accordance with the Sale and Servicing Agreement, dated as of May 29, 2013 (the “Sale and Servicing Agreement”), among World Omni
Auto Receivables LLC, a Delaware limited liability company (the “Depositor”), World Omni Auto Receivables Trust 2013-A (the “Issuing Entity”) and World Omni Financial Corp., a Florida corporation, (the
“Servicer”), as acknowledged and accepted by Deutsche Bank Trust Company Americas, as Indenture Trustee, the Depositor does hereby sell, assign, transfer and otherwise convey unto the Issuing Entity, without recourse, all
right, title and interest of the Depositor in, to and under (a) the Subsequent Receivables identified on the Schedule of Receivables attached hereto having an aggregate Starting Principal Balance of
$            and all monies received thereon and in respect thereof after the close of business on             ,
20        ; (b) the security interests in, and the liens on, the Financed Vehicles granted by Obligors in connection with such Subsequent Receivables and any other interest of the Depositor in such
Financed Vehicles; (c) any proceeds with respect to the Subsequent Receivables from claims on any physical damage, credit life or disability insurance policies covering such Financed Vehicles or Obligors; (d) any Financed Vehicle that
shall have secured such Subsequent Receivable and shall have been acquired by or on behalf of the Depositor, the Servicer or the Trust; (e) all “accounts,” “chattel paper,” “general intangibles” and
“promissory notes” (as such terms are defined in the Uniform Commercial Code as from time to time in effect) constituting or relating to the foregoing; and (f) the proceeds of any and all of the foregoing (including Liquidation
Proceeds); provided, however, that the foregoing items (a) through (f) shall not include the Notes and Certificates. 
 The foregoing sale does not constitute and is not intended to result in any assumption by the Issuing Entity of any obligation of the undersigned to the Obligors, Dealers, insurers or any other Person in
connection with such Subsequent Receivables, the agreements with Dealers, any insurance policies or any agreement or instrument relating to any of them. 
 This Subsequent Transfer SSA Assignment is made pursuant to and upon the representations, warranties and agreements on the part of the undersigned contained in the Sale and Servicing Agreement and is to
be governed by the Sale and Servicing Agreement. 
 Capitalized terms used herein and not otherwise defined shall have the
meaning assigned to them in the Sale and Servicing Agreement. 
 * * * * * 

  
 Ex. D-1

 IN WITNESS WHEREOF, the undersigned has caused this Subsequent Transfer SSA Assignment to be
duly executed as the day and year first above written. 
  

			
	WORLD OMNI AUTO RECEIVABLES LLC
		
	 By:
	 	 
	 Name:
	 	
	Title:	 	

  
 Ex. D-2

 APPENDIX A 
 PART I—DEFINITIONS 
 All terms used in this Appendix shall have the defined meanings
set forth in this Part I when used in the Basic Documents, unless otherwise defined therein. 
 “Accredited
Investor” has the meaning assigned in Section 2.04(e) of the Indenture. 
 “Act of the
Noteholders” has the meaning specified in Section 11.03(a) of the Indenture. 
 “Administration
Agreement” means the Administration Agreement, dated as of the Closing Date, among the Administrator, the Issuing Entity, the Depositor and the Indenture Trustee, as amended from time to time. 

“Administrator” means World Omni Financial Corp., a Florida corporation, or any successor Administrator under the
Administration Agreement. 
 “Advance” has the meaning assigned in Section 5.04 of the Sale and
Servicing Agreement. 
 “Affiliate” means, with respect to any specified Person, any other Person controlling
or controlled by or under common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means the power to direct the management and policies of such Person, directly or
indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Aggregate Starting Principal Balance” means as of any date of determination, the aggregate of the Starting Principal
Balances of the Initial Receivables as of the Initial Cutoff Date, which is equal to the Initial Aggregate Starting Principal Balance, plus the aggregate of the Starting Principal Balances, as of each of the related Subsequent Cutoff Dates, for all
Subsequent Receivables, if any, sold to the Issuing Entity on or prior to such date of determination. 
 “Amount
Financed” means, with respect to a Receivable, the amount advanced under the Receivable toward the purchase price of the Financed Vehicle, warranty or insurance premium and any related costs. 

“Annual Percentage Rate” or “APR” of a Receivable means the annual rate of finance charges stated in
the related Contract. 
 “Assignment” shall mean any RPA Assignment or SSA Assignment. 

“Authorized Officer” means, with respect to the Owner Trustee, any officer of the Owner Trustee or other Person who is
authorized to act for the Owner Trustee in matters relating to the Issuing Entity (including any agent of the Owner Trustee acting under a power of attorney) and, with respect to the Issuing Entity, any Authorized Officer of the Owner Trustee or, so
long as the Administration Agreement is in effect, the president, any vice president, treasurer, assistant 

  
 App. A-1

 
treasurer, secretary or assistant secretary of the Administrator who is authorized to act for the Administrator in matters relating to the Issuing Entity and to be acted upon by the Administrator
pursuant to the Administration Agreement and who is identified on the list of Authorized Officers delivered by the Administrator to the Indenture Trustee on the Closing Date (as such list may be modified or supplemented from time to time
thereafter). 
 “Available Funds” means, with respect to any Payment Date, (1) the sum of the following
amounts, without duplication, with respect to the Receivables in respect of the Collection Period preceding such Payment Date: (a) all collections on Receivables, (b) Advances, (c) all Liquidation Proceeds attributable to the
Receivables that became Liquidated Receivables during such Collection Period in accordance with the Servicer’s customary servicing procedures and all Recoveries, (d) the Purchase Amount of each Receivable that became a Purchased Receivable
as of the last day of the related Collection Period, (e) partial prepayments relating to refunds of warranty or insurance financed by the respective Obligor thereon as part of the original contract and only to the extent not included under
clause (a) above, (f) amounts on deposit in the Reserve Account after giving effect to all other deposits and withdrawals thereto or therefrom on the Payment Date relating to such Collection Period in excess of the Required Reserve
Amount, (g) amounts on deposit in the Negative Carry Account, if any, after giving effect to all other deposits and withdrawals thereto and therefrom on the Payment Date relating to such Collection Period in excess of the Required Negative
Carry Account Balance, (h) Investment Earnings for the related Payment Date, (i) any Collection Account Redeposits for the related Payment Date, (j) all amounts received from the Indenture Trustee pursuant to Section 5.04
of the Indenture and (k) the net amount paid to the Trust under the Interest Rate Swaps since the preceding Payment Date, if any, minus (2) the Servicing Fee, reimbursements for Advances and other amounts payable to the Servicer
pursuant to Section 4.08 of the Sale and Servicing Agreement for the related Payment Date (unless the Servicer elects to defer part or all of such fee); provided, however, that in calculating Available Funds all
payments and proceeds (including Liquidation Proceeds) of any Purchased Receivables the Purchased Amount of which has been included in Available Funds in a prior Collection Period shall be excluded. Available Funds for each Payment Date will not
include, and the amount of Available Funds will not be reduced by, the amount of any Supplemental Servicing Fees. 

“Available Purchase Amount” means as of any Subsequent Transfer Date, the excess, if any, of $[RESERVED] over the
Aggregate Starting Principal Balance on (and before giving effect to any transfers of Receivables on) such Subsequent Transfer Date. 
 “Basic Documents” means the Indenture, the Certificate of Trust, the Trust Agreement, the Sale and Servicing Agreement, the Receivables Purchase Agreement, the Administration Agreement,
the Note Depository Agreement, the Interest Rate Swaps, if any, the Swap Counterparty Rights Agreement, if any, and other documents and certificates delivered in connection therewith. 

“Book-Entry Notes” means a beneficial interest in the Class A-1 Notes, Class A-2 Notes, Class A-3
Notes, Class A-4 Notes and Class B Notes, ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 2.11 of the Indenture. 

  
 App. A-2

 “Business Day” means any day other than (i) a Saturday or a Sunday or
(ii) a day on which banking institutions or trust companies in the State of Florida, the State of New York, the State of Delaware, the states in which the servicing offices of the Servicer are located or the state in which the Corporate Trust
Office is located are required or authorized by law, regulation or executive order to be closed. 
 “Certificate of
Trust” shall mean the Certificate of Trust in the form of Exhibit B to the Trust Agreement filed for the Trust pursuant to Section 3810(a) of the Delaware Statutory Trust Act. 

“Certificateholder” shall mean a Person in whose name a Trust Certificate is registered in the Certificate Register.

 “Certificate Register” and “Certificate Registrar” shall mean the register mentioned in and
the registrar appointed pursuant to Section 3.04 of the Trust Agreement. 
 “Certificates” means
the Trust Certificates issued by the Issuing Entity pursuant to the Trust Agreement in form and substance attached as Exhibit A thereto. 
 “Class” means any one of the classes of Notes. 
 “Class A
Noteholders’ Interest Carryover Shortfall” means, with respect to any Payment Date, the excess of the Class A Noteholders’ Interest Distributable Amount for the preceding Payment Date, over the amount in respect of interest
that was actually paid on the Class A Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to holders of the Class A Notes on the preceding Payment Date, to the extent permitted by law, at the
respective interest rates borne by each Class of the Class A Notes for the related Interest Accrual Period. 

“Class A Noteholders’ Interest Distributable Amount” means, with respect to any Payment Date, the sum of the
Class A Noteholders’ Monthly Interest Distributable Amount for such Payment Date and the Class A Noteholders’ Interest Carryover Shortfall for such Payment Date. 

“Class A Noteholders’ Monthly Interest Distributable Amount” means, with respect to any Payment Date, interest
accrued for the related Interest Accrual Period on each class of Class A Notes at the respective interest rate for such Class on the Outstanding Amount of the Notes of such Class on the immediately preceding Payment Date (or, in the case of the
initial Payment Date, on the Closing Date), after giving effect to all payments of principal to the Noteholders of such Class on or prior to such preceding Payment Date. For all purposes of this Agreement and the Basic Documents, interest with
respect to the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The interest due on these classes of notes on each Payment Date will be
the product of: 
  

	 	•	 	 the Outstanding Principal Balance of the related Class of Notes; 

 

	 	•	 	 the related Interest Rate; and 

  

	 	•	 	 30 (or, in the case of the initial Payment Date, 16) divided by 360. 

  
 App. A-3

 Interest due on the initial Payment Date will be $52,555.56 for the Class A-2 Notes,
$76,800.00 for the Class A-3 Notes and $36,707.81 for the Class A-4 Notes. 
 Interest with respect to the
Class A-1 Notes shall be computed on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The interest due on these classes of notes on each Payment Date will be the product of: 

 

	 	•	 	 the Outstanding Principal Balance of the related Class of Notes; 

 

	 	•	 	 the related Interest Rate; and 

  

	 	•	 	 the actual number of days since the previous Payment Date (or, in the case of the initial Payment Date, since the Closing Date) divided by 360.

 Interest due on the initial Payment Date will be $29,740.28 for the Class A-1 Notes. 

“Class A Notes” means the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the
Class A-4 Notes. 
 “Class A-1 Final Scheduled Payment Date” means the June 2014 Payment Date.

 “Class A-1 Interest Rate” means 0.23000% per annum computed on the basis of the actual number of
days elapsed and on a 360 day year. 
 “Class A-1 Noteholder” means the Person in whose name a
Class A-1 Note is registered in the Note Register. 
 “Class A-1 Notes” means the Class A-1
0.23000% Asset-Backed Notes, substantially in the form of Exhibit A-1 to the Indenture. 
 “Class A-2
Final Scheduled Payment Date” means the May 2016 Payment Date. 
 “Class A-2 Interest Rate” means
0.43% per annum computed on the basis of a 360 day year of twelve 30 day months. 
 “Class A-2
Noteholder” means the Person in whose name a Class A-2 Note is registered in the Note Register. 
 “Class
A-2 Notes” means the Class A-2 0.43% Asset-Backed Notes, substantially in the form of Exhibit A-2 to the Indenture. 
 “Class A-3 Final Scheduled Payment Date” means the April 2018 Payment Date. 
 “Class A-3 Interest Rate” means 0.64% per annum computed on the basis of a 360 day year of twelve 30 day months. 

  
 App. A-4

 “Class A-3 Noteholder” means the Person in whose name a Class A-3
Note is registered in the Note Register. 
 “Class A-3 Notes” means the Class A-3 0.64% Asset-Backed
Notes, substantially in the form of Exhibit A-3 to the Indenture. 
 “Class A-4 Final Scheduled Payment
Date” means the July 2019 Payment Date. 
 “Class A-4 Interest Rate” means 0.87% per annum
computed on the basis of a 360 day year of twelve 30 day months. 
 “Class A-4 Noteholder” means the
Person in whose name a Class A-4 Note is registered in the Note Register. 
 “Class A-4 Notes” means the
Class A-4 0.87% Asset-Backed Notes, substantially in the form of Exhibit A-4 to the Indenture. 

“Class B Final Scheduled Payment Date” means the March 2020 Payment Date. 

“Class B Interest Rate” means 1.13% per annum computed on the basis of a 360 day year of twelve 30 day months.

 “Class B Noteholder” means the Person in whose name a Class B Note is registered in the Note Register.

 “Class B Noteholders’ Interest Carryover Shortfall” means, with respect to any Payment Date, the excess
of the Class B Noteholders’ Interest Distributable Amount for the preceding Payment Date, over the amount in respect of interest that was actually paid on the Class B Notes on such preceding Payment Date, plus interest on the amount of interest
due but not paid to holders of the Class B Notes on the preceding Payment Date, to the extent permitted by law, at the respective interest rates borne by such Class of the Notes for the related Interest Accrual Period. 

“Class B Noteholders’ Interest Distributable Amount” means, with respect to any Payment Date, the sum of the Class
B Noteholders’ Monthly Interest Distributable Amount for such Payment Date and the Class B Noteholders’ Interest Carryover Shortfall for such Payment Date. 
 “Class B Noteholders’ Monthly Interest Distributable Amount” means, with respect to any Payment Date, interest accrued for the related Interest Accrual Period on the Class B Notes at
the interest rate for such Class on the Outstanding Amount of the Notes of such Class on the immediately preceding Payment Date (or, in the case of the initial Payment Date, on the Closing Date), after giving effect to all payments of principal to
the Noteholders of such Class on or prior to such preceding Payment Date. For all purposes of this Agreement and the Basic Documents, interest with respect to all Class B Notes shall be computed on the basis of a 360-day year consisting of twelve
30-day months. The interest due on these classes of notes on each Payment Date will be the product of: 

  
 App. A-5

	 	•	 	 the Outstanding Principal Balance of the related Class of Notes; 

 

	 	•	 	 the related Interest Rate; and 

  

	 	•	 	 30 (or, in the case of the initial Payment Date, 16) divided by 360. 

Interest due on the initial Payment Date will be $9,520.63 for the Class B Notes. 

“Class B Notes” means the Class B 1.13% Asset-Backed Notes substantially in the form of Exhibit B to the
Indenture. 
 “Clearing Agency” means an organization registered as a “clearing agency” pursuant to
Section 17A of the Exchange Act. 
 “Clearing Agency Participant” means a broker, dealer, bank, other
financial institution or other Person for whom from time to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with the Clearing Agency. 
 “Closing Date” shall mean May 29, 2013. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time, and Treasury Regulations promulgated
thereunder. 
 “Collateral” has the meaning specified in the Granting Clause of the Indenture. 

“Collection Account” means the account designated as such, established and maintained pursuant to
Section 5.01(a)(i) of the Sale and Servicing Agreement. 
 “Collection Account Redeposits” means,
with respect to any Payment Date, amounts that would have been distributed to the Certificateholders on the prior Payment Date but for the direction of the Certificateholders causing such amounts to remain on deposit in the Collection Account.

 “Collection Period” means, with respect to any Payment Date, the period from and including the first day of
the calendar month immediately preceding the calendar month in which such Payment Date occurs (or with respect to the initial Payment Date, from but excluding the Initial Cutoff Date) to and including the last day of the calendar month immediately
preceding the calendar month in which such Payment Date occurs. Any amount stated as of the last day of a Collection Period shall give effect to the following applications as determined as of the close of business on such last day: (1) all
applications of collections and (2) all distributions to be made on the related Payment Date. 

“Collections” shall mean all amounts collected by the Servicer (from whatever source) on or with respect to the
Receivables. 
 “Commission” means the U.S. Securities and Exchange Commission. 

“Contract” means a motor vehicle retail installment sale contract. 

  
 App. A-6

 “Controlling Securities” means (i) the Class A Notes so long as
the Class A Notes are outstanding and (ii) after the Class A Notes are no longer outstanding, the Class B Notes so long as the Class B Notes are outstanding. 
 “Corporate Trust Office” means: 
 (a) with respect to the
Indenture Trustee, Deutsche Bank Trust Company Americas, 60 Wall Street 26th Floor, Mail Stop NYC60 2606, New York, New York 10005, Telephone: (212) 250-2946, Telecopy: (212) 553-2458, or at such other address as the Indenture Trustee may
designate from time to time by notice to the Noteholders and the Issuing Entity, or the principal corporate trust office of any successor Indenture Trustee at the address designated by such successor Indenture Trustee by notice to the Noteholders
and the Issuing Entity; and 
 (b) with respect to the Owner Trustee, the corporate trust office of the Owner Trustee located at
U.S. Bank Trust National Association, 300 Delaware Avenue, 9th Floor, Wilmington, Delaware 19801, Attn: World Omni Auto Receivables Trust 2013-A, with a copy to U.S. Bank Trust National Association, Mail Code MK-12-SL7R, 190 S. LaSalle Street, 7th
Floor, Chicago, Illinois 60603, Attention: Patricia Child, VP, Telecopy: (312) 332-7996, or at such other address as the Owner Trustee may designate by notice to the Certificateholders and the Depositor, or the principal corporate trust office
of any successor Owner Trustee at the address designated by such successor Owner Trustee by notice to the Certificateholders and the Depositor. 
 “Cutoff Date” means with respect to an Initial Receivable, the Initial Cutoff Date, and with respect to a Subsequent Receivable, the related Subsequent Cutoff Date. 

“Dealer” means the dealer who sold a Financed Vehicle and who originated and assigned the related Receivable to World
Omni under an existing agreement between such dealer and World Omni. 
 “Default” means any occurrence that is,
or with notice or the lapse of time or both would become, an Event of Default. 
 “Defaulted Receivable” means
a Receivable as to which (a) $40 or more of a monthly payment is 120 or more days past due and the Servicer has not repossessed the related Financed Vehicle or (b) the Servicer has, in accordance with its customary servicing procedures,
determined that eventual payment in full is unlikely and has either repossessed and liquidated the related Financed Vehicle or repossessed and held the related Financed Vehicle in its repossession inventory for 45 days, whichever occurs first. The
Principal Balance of any Receivable that becomes a Defaulted Receivable will be deemed to be zero as of the date it becomes a Defaulted Receivable. 
 “Definitive Notes” has the meaning specified in Section 2.11 of the Indenture. 
 “Delivery” when used with respect to Trust Account Property means: 
 (a) with respect to bankers’ acceptances, commercial paper, negotiable certificates of deposit and other obligations that constitute “instruments” within the meaning of
Section 9-102(a)(47) of the UCC and are susceptible of physical delivery, 

  
 App. A-7

 
transfer thereof to the Indenture Trustee or its nominee or custodian by physical delivery to the Indenture Trustee or its nominee or custodian endorsed to, or registered in the name of, the
Indenture Trustee or its nominee or custodian or endorsed in blank, and, with respect to a certificated security (as defined in Section 8-102 of the UCC) transfer thereof (i) by delivery of such certificated security endorsed to, or
registered in the name of, the Indenture Trustee or its nominee or custodian or endorsed in blank to a financial intermediary (as defined in Section 8-313 of the UCC) and the making by such financial intermediary of entries on its books and
records identifying such certificated securities as belonging to the Indenture Trustee or its nominee or custodian and the sending by such financial intermediary of a confirmation of the purchase of such certificated security by the Indenture
Trustee or its nominee or custodian, or (ii) by delivery thereof to a “clearing corporation” (as defined in Section 8-102(3) of the UCC) and the making by such clearing corporation of appropriate entries on its books reducing the
appropriate securities account of the transferor and increasing the appropriate securities account of a financial intermediary by the amount of such certificated security, the identification by the clearing corporation of the certificated securities
for the sole and exclusive account of the financial intermediary, the maintenance of such certificated securities by such clearing corporation or a “custodian bank” (as defined in Section 8-102(4) of the UCC) or the nominee of either
subject to the clearing corporation’s exclusive control, the sending of a confirmation by the financial intermediary of the purchase by the Indenture Trustee or its nominee or custodian of such securities and the making by such financial
intermediary of entries on its books and records identifying such certificated securities as belonging to the Indenture Trustee or its nominee or custodian (all of the foregoing, “Physical Property”), and, in any event, any such
Physical Property in registered form shall be in the name of the Indenture Trustee or its nominee or custodian; and such additional or alternative procedures as may hereafter become appropriate to effect the complete transfer of ownership of any
such Trust Account Property (as defined herein) to the Indenture Trustee or its nominee or custodian, consistent with changes in applicable law or regulations or the interpretation thereof; 

(b) with respect to any securities issued by the U.S. Treasury, the Federal Home Loan Mortgage Corporation or by the
Federal National Mortgage Association that are book-entry securities held through the Federal Reserve System pursuant to Federal book-entry regulations, the following procedures, all in accordance with applicable law, including applicable Federal
regulations and Articles 8 and 9 of the UCC: book-entry registration of such Trust Account Property to an appropriate book-entry account maintained with a Federal Reserve Bank by a financial intermediary which is also a “depository”
pursuant to applicable Federal regulations and issuance by such financial intermediary of a deposit advice or other written confirmation of such book-entry registration to the Indenture Trustee or its nominee or custodian of the purchase by the
Indenture Trustee or its nominee or custodian of such book-entry securities; the identification by the Federal Reserve Bank of such book-entry securities on its record being credited to the financial intermediary’s Participant’s securities
account; the making by such financial intermediary of entries in its books and records identifying such book-entry security held through the Federal Reserve System pursuant to Federal book-entry regulations as being credited to the Indenture
Trustee’s securities account or custodian’s securities account and indicating that such custodian holds such Trust Account Property 

  
 App. A-8

 
solely as agent for the Indenture Trustee or its nominee or custodian; and such additional or alternative procedures as may hereafter become appropriate to effect complete transfer of ownership
of any such Trust Account Property to the Indenture Trustee or its nominee or custodian, consistent with changes in applicable law or regulations or the interpretation thereof; and 

(c) with respect to any item of Trust Account Property that is an uncertificated security under Article 8 of the UCC and
that is not governed by clause (b) above, registration on the books and records of the issuer thereof in the name of the financial intermediary, the sending of a confirmation by the financial intermediary of the purchase by the Indenture
Trustee or its nominee or custodian of such uncertificated security, the making by such financial intermediary of entries on its books and records identifying such uncertificated certificates as belonging to the Indenture Trustee or its nominee or
custodian. 
 “Depositor” means World Omni Auto Receivables LLC in its capacity as Depositor under certain of
the Basic Documents. 
 “Early Termination Date” has the meaning specified in Section 14 of the
applicable Interest Rate Swap, if any. 
 “Eligible Deposit Account” means either (a) a segregated account
with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia
(or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating of BBB or better by
Standard & Poor’s and, if rated by Fitch, in one of its generic rating categories that signifies investment grade. 
 “Eligible Institution” means 
 (a) the corporate trust department
of the Indenture Trustee or 
 (b) a depository institution or trust company organized under the laws of the United States of
America or any one of the states thereof, or the District of Columbia (or any domestic branch of a foreign bank), which at all times (i) has either (A) a long-term unsecured debt rating of AA or better by Fitch (if rated by Fitch), AA or
better by Standard & Poor’s, or such other rating that is acceptable to each Rating Agency, as evidenced by a letter from such Rating Agency to the Indenture Trustee or (B) a certificate of deposit rating of F-1 by Fitch (if rated
by Fitch), A-1+ by Standard & Poor’s, or such other rating that is acceptable to each Rating Agency, as evidenced by a letter from such Rating Agency to the Indenture Trustee and (ii) whose deposits are insured by the FDIC.

  
 App. A-9

 “Eligible Investments” shall mean any of the following in each case with a
required maturity date as set forth in Section 5.01(b) of the Sale and Servicing Agreement: 
 (a)
(i) direct obligations of, and obligations guaranteed as to full and timely payment of principal and interest by, the United States or any agency or instrumentality of the United States the obligations of which are backed by the full faith and
credit of the United States (other than the Government National Mortgage Association), and (ii) direct obligations of, or obligations fully guaranteed by, Fannie Mae or any State then rated with the highest available credit rating of Fitch (if
rated by Fitch) and Standard & Poor’s, or such obligations, which obligations are, at the time of investment, otherwise acceptable to each Rating Agency for securities having a rating at least equivalent to the rating of the Notes;

 (b) money market deposit accounts, certificates of deposit, demand or time deposits, savings deposits, bankers
acceptances, or federal funds, in each case as defined in Regulation D of the Board of Governors of the Federal Reserve System and issued by or sold by or offered by, any domestic office of any commercial bank or any depository institution or trust
company (including the Indenture Trustee or the Owner Trustee or their successors) incorporated or organized under the laws of the United States or any State thereof which has a combined capital and surplus and undivided profits of not less than
$250,000,000 and the deposits of which are fully insured by the FDIC; 
 (c) repurchase obligations held by the
Indenture Trustee that are acceptable to the Indenture Trustee with respect to (i) any security described in clause (a) above or (e) below, or (ii) any other security issued or guaranteed by any agency or instrumentality of the
United States, in either case entered into with a federal agency or depository institution or trust company (including the Indenture Trustee) acting as principal, whose obligations having the same maturity as that of the repurchase agreement would
be Eligible Investments under clause (b) above; provided, however, that repurchase obligations entered into with any particular depository institution or trust company (including the Indenture Trustee or Owner Trustee) will
not be Eligible Investments to the extent that the aggregate principal amount of such repurchase obligations with such depository institution or trust company held by the Indenture Trustee on behalf of the Trust shall exceed 10% of either the Pool
Balance or the aggregate unpaid balance or face amount, as the case may be, of all Eligible Investments held by the Indenture Trustee on behalf of the Trust; 
 (d) securities bearing interest or sold at a discount issued by any corporation incorporated under the laws of the United States or any State so long as at the time of such investment or contractual
commitment providing for such investment, either the long-term, unsecured debt of such corporation has the highest available credit rating from Fitch (if rated by Fitch) and Standard & Poor’s, or the Rating Agency Condition has been
satisfied, or commercial paper or other short-term debt having the Required Rating; provided, however, that any such commercial paper or other short-term debt may have a remaining term to maturity of no longer than 30 days after the
date of such investment or contractual commitment providing for such investment, and that the securities issued by any particular corporation will not be Eligible Investments to the extent that investment therein will cause the then outstanding
principal amount or face amount, as the case may be, of securities issued by such corporation and held by the Indenture Trustee on behalf of the Trust to exceed 10% of either the Pool Balance or the aggregate unpaid principal balance or face amount,
as the case may be, of all Eligible Investments held by the Indenture Trustee on behalf of the Trust; 

  
 App. A-10

 (e) interest in any open-end or closed-end management type investment
company or investment trust (i) registered under the Investment Company Act of 1940, as amended, the portfolio of which is limited to the obligations of, or guaranteed by, the United States and to agreements to repurchase such obligations,
which agreements, with respect to principal and interest, are at least 100% collateralized by such obligations marked to market on a daily basis and the investment company or investment trust shall take delivery of such obligations either directly
or through an independent custodian designated in accordance with the Investment Company Act and (ii) acceptable to each Rating Agency (as approved in writing by each Rating Agency) as collateral for securities having ratings equivalent to the
ratings of the Notes; 
 (f) guaranteed reinvestment agreements issued by any bank, insurance company or other
corporation for which the Rating Agency Condition has been satisfied; 
 (g) investments in Eligible Investments
maintained in “sweep accounts,” short-term asset management accounts and the like utilized for the investment, on an overnight basis, of residual balances in investment accounts maintained at the Indenture Trustee or any other depository
institution or trust company organized under the laws of the United States or any state that is a member of the FDIC, the short-term debt of which has the highest available credit rating of Fitch (if rated by Fitch) and Standard &
Poor’s; 
 (h) guaranteed investment contracts entered into with any financial institution having a final
maturity of not more than one month from the date of acquisition, the short-term debt securities of which institution have the Required Rating; 
 (i) funds classified as money market funds; provided, however, that the fund shall be rated with the highest available credit rating of Fitch (if rated by Fitch) and
Standard & Poor’s, and redemptions shall be permitted on a daily or next business day basis; 
 (j)
auction rate securities issued with a rate reset mechanism and a maximum term of 30 days; provided that investment will be limited to those issuers having the AAA credit rating of Fitch (if rated by Fitch) and Standard &
Poor’s; and 
 (k) such other investments for which the Rating Agency Condition has been satisfied.

 Notwithstanding anything to the contrary contained in the foregoing definition: 

(a) no Eligible Investment may be repurchased at a premium; 

(b) any of the foregoing which constitutes a certificated security shall not be considered an Eligible Investment unless:

  
 App. A-11

 (i) in the case of a certificated security that is in bearer form,
(A) the Indenture Trustee acquires physical possession of such certificated security, or (B) a person, other than a securities intermediary, acquires possession of such certificated security on behalf of the Indenture Trustee; and

 (ii) in the case of a certificated security that is in registered form (A)(1) the Indenture Trustee acquires
physical possession of such certificated security, (2) a person, other than a securities intermediary, acquires possession of such certificated security on behalf of the Indenture Trustee, or (3) a securities intermediary acting on behalf
of the Indenture Trustee acquires possession of such certificated security and such certificated security has been specially endorsed to the Indenture Trustee, and (B) (1) such certificated security is endorsed to the Indenture Trustee or
in blank by an effective endorsement, or (2) such certificated security is registered in the name of the Indenture Trustee; 
 (c) any of the foregoing that constitutes an uncertificated security shall not be considered an Eligible Investment unless (A) the Indenture Trustee is registered by the issuer as the owner thereof,
(B) a person, other than a securities intermediary, becomes the registered owner of such uncertificated security on behalf of the Indenture Trustee, or (C) the issuer of such uncertificated security agrees that it will comply with the
instructions originated by the Indenture Trustee without further consent by any registered owner of such uncertificated security; 
 (d) any of the foregoing that constitutes a security entitlement shall not be considered an Eligible Investment unless (A) the Indenture Trustee becomes the entitlement holder thereof, or
(B) the securities intermediary has agreed to comply with the entitlement orders originated by the Indenture Trustee without further consent by the entitlement holder; 

(e) any of the foregoing shall not constitute an Eligible Investment unless the Indenture Trustee (A) has given
value, and (B) does not have notice of an adverse claim; and 
 (f) for the purposes of funds held in the
Collection Account only, investments which would otherwise qualify as Eligible Investments but for the fact that such investments are rated A-1 by Standard & Poor’s shall be Eligible Investments, so long as the aggregate amount of such
investments does not exceed 10% of the Outstanding Amount of the Notes. 
 “ERISA” shall have the meaning
assigned thereto in Section 3.04 of the Trust Agreement. 
 “Event of Default” has the meaning
specified in Section 5.01 of the Indenture. 
 “Exchange Act” means the Securities Exchange Act of
1934, as amended. 
 “Executive Officer” means, with respect to any company, the Chief Executive Officer, Chief
Operating Officer, Chief Financial Officer, President, any Executive Vice President, Vice President, Secretary, Assistant Secretary, Treasurer or Assistant Treasurer of such company; and with respect to any partnership, any general partner thereof.

  
 App. A-12

 “Expenses” shall have the meaning assigned to such term in
Section 8.02 of the Trust Agreement. 
 “FDIC” means the Federal Deposit Insurance Corporation.

 “Final Prospectus” shall mean the prospectus dated May 16, 2013, as supplemented by the prospectus
supplement dated May 21, 2013, relating to the Notes. 
 “Final Scheduled Maturity Date” means in the case
of an Initial Receivable, August 28, 2019 or, in the case of a Subsequent Receivable, [RESERVED]. 
 “Final
Scheduled Payment Date” means (i) with respect to the Class A-1 Notes, the Class A-1 Final Scheduled Payment Date, (ii) with respect to the Class A-2 Notes, the Class A-2 Final Scheduled Payment Date,
(iii) with respect to the Class A-3 Notes, the Class A-3 Final Scheduled Payment Date, (iv) with respect to the Class A-4 Notes, the Class A-4 Final Scheduled Payment Date, and (v) with respect to the Class B
Notes, the Class B Final Scheduled Payment Date. 
 “Financed Vehicle” means an automobile or light-duty truck,
together with all accessions thereto, securing an Obligor’s indebtedness under the respective Receivable. 

“Financial Asset” has the meaning given such term in Revised Article 8. As used herein, the Financial Asset
“related to” a security entitlement is the Financial Asset in which the entitlement holder (as defined in the New York UCC) holding such Security Entitlement has the rights and property interest specified in the New York UCC. 

“Fitch” means Fitch, Inc. or its successor. 
 “Funding Period” means, if the Pre-Funding Account Initial Deposit is greater than zero, the period beginning on and including the Closing Date and ending on the first to occur of
(a) the date on which the amount on deposit in the Pre-Funding Account (after giving effect to any transfers therefrom in connection with the transfer of Subsequent Receivables to the Issuing Entity on such Payment Date) is not greater than
$100,000, (b) the date on which an Event of Default or a Servicer Default occurs, (c) the date on which an Insolvency Event occurs with respect to WOAR or World Omni or (d) the last Business Day of [RESERVED]. If the Pre-Funding
Account Initial Deposit is zero, there will be no Funding Period. 
 “Grant” means mortgage, pledge, bargain,
warrant, alienate, remise, release, convey, assign, transfer, create, and grant a lien upon and a security interest in and a right of set-off against, deposit, set over and confirm pursuant to the Indenture. A Grant of the Collateral or of any other
agreement or instrument shall include all rights, powers and options (but none of the obligations) of the granting party thereunder, including the immediate and continuing right to claim for, collect, receive and give receipt for principal and
interest payments in respect of the Collateral and all other monies payable thereunder, to give and receive notices and other communications, to make waivers or other agreements, to exercise all rights and options, to bring

  
 App. A-13

 
Proceedings in the name of the granting party or otherwise, and generally to do and receive anything that the granting party is or may be entitled to do or receive thereunder or with respect
thereto. 
 “Holder” or “Noteholder” means the Person in whose name a Note is registered on
the Note Register. 
 “Indemnified Parties” shall have the meaning assigned to such term in
Section 8.02 of the Trust Agreement. 
 “Indenture” shall mean the Indenture, dated as of the
Closing Date, between the Trust and the Indenture Trustee, as the same may be amended and supplemented from time to time. 

“Indenture Trustee” means Deutsche Bank Trust Company Americas, not in its individual capacity but solely as Indenture
Trustee under the Indenture, or any successor Indenture Trustee under the Indenture. 
 “Independent” means,
when used with respect to any specified Person, that the Person (a) is in fact independent of the Issuing Entity, any other obligor on the Notes, the Depositor and any Affiliate of any of the foregoing Persons, (b) does not have any direct
financial interest or any material indirect financial interest in the Issuing Entity, any such other obligor, the Depositor or any Affiliate of any of the foregoing Persons and (c) is not connected with the Issuing Entity, any such other
obligor, the Depositor or any Affiliate of any of the foregoing Persons as an officer, employee, promoter, underwriter, trustee, partner, director or person performing similar functions. 

“Independent Certificate” means a certificate or opinion to be delivered to the Indenture Trustee under the
circumstances described in, and otherwise complying with, the applicable requirements of Section 11.01 of the Indenture, made by an Independent appraiser or other expert appointed by an Issuing Entity Order and approved by the Indenture
Trustee in the exercise of reasonable care, and such opinion or certificate shall state that the signer has read the definition of “Independent” in the Indenture and that the signer is Independent within the meaning thereof. 

“Initial Aggregate Starting Principal Balance” means $940,556,049.13. 

“Initial Cutoff Date” means April 16, 2013. 

“Initial RPA Assignment” has the meaning assigned in Section 2.01 of the Receivables Purchase Agreement.

 “Initial SSA Assignment” has the meaning assigned in Section 2.01 of the Sale and Servicing
Agreement. 
 “Initial Receivables” means the Receivables transferred to the Trust on the Closing Date as set
forth on the Schedule of Receivables attached to the Initial SSA Assignment. 

  
 App. A-14

 “Initial Trust Agreement” shall have the meaning assigned to such term in
Section 2.12 of the Trust Agreement. 
 “Insolvency Event” means, with respect to a specified
Person, (a) the filing of a decree or order for relief by a court having jurisdiction in the premises in respect of such Person or any substantial part of its property in an involuntary case under any applicable federal or state bankruptcy,
insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any substantial part of its property, or ordering the winding-up
or liquidation of such Person’s affairs, and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or (b) the commencement by such Person of a voluntary case under any applicable federal or state
bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by such Person to the entry of an order for relief in an involuntary case under any such law, or the consent by such Person to the appointment of or taking
possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any substantial part of its property, or the making by such Person of any general assignment for the benefit of creditors, or
the failure by such Person generally to pay its debts as such debts become due, or the taking of action by such Person in furtherance of any of the foregoing. 
 “Interest Accrual Period” means, with respect to any Payment Date, (i) for the Class A-1 Notes, the period from and including the previous Payment Date (or, in the case of the
initial Payment Date, the Closing Date) to, but excluding, the current Payment Date and (ii) for the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes, the period from and including the 15th day of
the preceding calendar month (or, in the case of the initial Payment Date, the Closing Date) to, but excluding, the 15th day of the current calendar month. 
 “Interest Rate” means the Class A-1 Interest Rate, the Class A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate or the Class B Interest Rate,
as applicable. 
 “Interest Rate Swaps” means the interest rate swap agreements, if any, including all
schedules and confirmations related thereto, between the Trust and the Swap Counterparty, if any, in effect on the Closing Date (as may be amended, supplemented, replaced or otherwise modified and in effect from time to time). 

“Investment Earnings” means, with respect to any Payment Date, the investment earnings (net of losses and investment
expenses) on amounts on deposit in the Trust Accounts to be deposited into the Collection Account on such Payment Date pursuant to Section 5.01(b) of the Sale and Servicing Agreement. 

“Investment Letter” has the meaning assigned in Section 2.04(a) of the Indenture. 

“Issuing Entity” means World Omni Auto Receivables Trust 2013-A until a successor replaces it and, thereafter, means the
successor and, for purposes of any provision contained in the Indenture and required by the TIA, each other obligor on the Notes. 
 “Issuing Entity Order” or “Issuing Entity Request” means a written order or request signed in the name of the Issuing Entity by any one of its Authorized Officers and
delivered to the Indenture Trustee. 

  
 App. A-15

 “Lien” means a security interest, lien, charge, pledge, equity or
encumbrance of any kind, other than tax liens, mechanics’ liens and any liens that attach to the respective Receivable by operation of law as a result of any act or omission by the related Obligor. 

“Liquidated Receivable” means any Receivable liquidated by the Servicer through the sale of a Financed Vehicle or
otherwise. 
 “Liquidation Proceeds” means, with respect to any Liquidated Receivable, the monies collected in
respect thereof, from whatever source on a Liquidated Receivable during the Collection Period in which such Receivable became a Liquidated Receivable, net of the sum of any amounts expended by the Servicer in connection with such liquidation and any
amounts required by law to be remitted to the Obligor on such Liquidated Receivable. 
 “Materiality Opinion”
has the meaning set forth in the Swap Counterparty Rights Agreement, if any. 
 “Maximum Negative Carry Amount”
means, if there is a Funding Period, with respect to the Closing Date and any Payment Date, the product of (i) the excess of (a) the weighted average of the Interest Rates on the Notes, as of such date over (b) [RESERVED]% multiplied
by (ii) the amount on deposit in the Pre-Funding Account on such date multiplied by (iii) the fraction of a year represented by the number of days from such date until, but excluding, the Payment Date immediately following the calendar
month in which the last day of the Funding Period occurs (calculated on the basis of a 360-day year of twelve 30-day months). 

“Monthly Swap Payment Amount” means, with respect to any Payment Date, the amount payable by the Trust under the
Interest Rate Swaps other than Swap Termination Payment Amounts, if any. 
 “Negative Carry Account” means the
account, if any, designated as such, established and maintained pursuant to Section 5.01(a)(v) of the Sale and Servicing Agreement. 
 “Negative Carry Account Initial Deposit” means cash or Eligible Investments having a value of $0.00. 
 “Negative Carry Amount” means, if there is a Funding Period, with respect to any Payment Date, the excess (if any) of (i) the product of (a) the sum of the aggregate of the
Class A Noteholders’ Interest Distributable Amount and the Class B Noteholders’ Interest Distributable Amount for such Payment Date multiplied by (b) a fraction, the numerator of which is the amount on deposit in the Pre-Funding
Account as of the preceding Payment Date (or, if none, the Closing Date) and the denominator of which is the Outstanding Amount on such preceding Payment Date (or, if none, the Closing Date), in each case, giving effect to all deposits, withdrawals
and payments to be made on such Payment Date over (ii) the Investment Earnings on amounts in the Pre-Funding Account during the related Collection Period. 
 “Non-Recoverable Advance Receivable” means a Receivable for which the Servicer has determined on or prior to the related Payment Date that an Advance thereon would not be recoverable or
that prior Advances thereon are not recoverable. 

  
 App. A-16

 “Note Depository Agreement” means the letter of representations, dated as
of the Closing Date, between the Issuing Entity and The Depository Trust Company, as the initial Clearing Agency. 

“Note Distribution Account” means the account designated as such, established and maintained pursuant to
Section 5.01(a)(ii) of the Sale and Servicing Agreement. 
 “Note Owner” means, with respect to a
Book-Entry Note, the Person who is the beneficial owner of such Book-Entry Note, as reflected on the books of the Clearing Agency or on the books of a Person maintaining an account with such Clearing Agency (directly as a Clearing Agency Participant
or as an indirect participant, in each case in accordance with the rules of such Clearing Agency). 
 “Note Pool
Factor” means, with respect to each Class of Notes as of the close of business on the last day of a Collection Period, a seven-digit decimal figure equal to the Outstanding Amount of such Class of Notes (after giving effect to any
reductions thereof to be made on the immediately following Payment Date) divided by the original Outstanding Amount of such Class of Notes. The Note Pool Factor will be 1.0000000 as of the Closing Date; thereafter, the Note Pool Factor will decline
to reflect reductions in the Outstanding Amount of such Class of Notes. 
 “Note Register” and “Note
Registrar” have the respective meanings specified in Section 2.05 of the Indenture. 

“Noteholders” shall mean the holders of the Notes. 

“Noteholders’ Distributable Amount” means, with respect to any Payment Date, the sum of the Noteholders’
Interest Distributable Amount and the Noteholders’ Principal Distributable Amount for such Payment Date. 

“Noteholders’ First Priority Principal Distributable Amount” means, with respect to any Payment Date, an amount
equal to the excess, if any, of (a) the Outstanding Amount of the Class A Notes as of the day immediately preceding such Payment Date over (b) the Pool Balance for that Payment Date. 

“Noteholders’ Interest Distributable Amount” means, with respect to any Payment Date, the sum of the Class A
Noteholders’ Interest Distributable Amount for such Payment Date and the Class B Noteholders’ Interest Distributable Amount for such Payment Date. 
 “Noteholders’ Principal Distributable Amount” means, with respect to any Payment Date, the excess, if any, of (a) the sum of the Outstanding Amount of the Notes as of the day
immediately preceding that Payment Date over (b) the Pool Balance for that Payment Date minus the Overcollateralization Target Amount for that Payment Date, provided that on the Final Scheduled Payment Date of any Class of Notes,
the Noteholders’ Principal Distributable Amount shall not be less than the amount necessary to reduce the aggregate Principal Balance of such Class of Notes to zero. 

  
 App. A-17

 “Noteholders’ Second Priority Principal Distributable Amount” means,
with respect to any Payment Date, an amount equal to the excess, if any, of (a) the Outstanding Amount of the Notes as of the day immediately preceding such Payment Date over (b) the Pool Balance for that Payment Date less (c) any
amounts allocated to the Noteholders’ First Priority Principal Distributable Amount. 
 “Notes” means
Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes and Class B Notes. 

“Obligor” on a Receivable means the purchaser or co-purchasers of the Financed Vehicle and any other Person who owes
payments under the Receivable. 
 “Officer’s Certificate” means in the case of the Issuing Entity, a
certificate signed by any Authorized Officer of the Issuing Entity, under the circumstances described in, and otherwise complying with, the applicable requirements of Section 11.01 of the Indenture, and delivered to the Indenture Trustee
(unless otherwise specified, any reference in the Indenture to an Officer’s Certificate shall be to an Officer’s Certificate of any Authorized Officer of the Issuing Entity), and in the case of World Omni, the Depositor or the Servicer, a
certificate signed by the president, a vice president, a treasurer, assistant treasurer, secretary or assistant secretary of World Omni, the Depositor or the Servicer, as appropriate. 

“Opinion of Counsel” means one or more written opinions of counsel who may, except as otherwise expressly provided in
the Indenture, be an employee of or counsel to the Issuing Entity and who shall be satisfactory to the addressees of such opinion, and which opinion or opinions if addressed to the Indenture Trustee, shall comply with any applicable requirements of
Section 11.01 of the Indenture and shall be in form and substance satisfactory to the Indenture Trustee. 

“Outstanding” means, as of the date of determination, all Notes theretofore authenticated and delivered under this
Indenture except: 
 (a) Notes theretofore cancelled by the Note Registrar or delivered to the Note Registrar for
cancellation; 
 (b) Notes or portions thereof the payment for which money in the necessary amount has been
theretofore deposited with the Indenture Trustee or any Paying Agent in trust for the Holders of such Notes (provided, however, that if such Notes are to be redeemed, notice of such redemption has been duly given or waived pursuant to
this Indenture or provision for such notice or waiver has been made which is satisfactory to the Indenture Trustee); and 
 (c) Notes in exchange for or in lieu of which other Notes have been authenticated and delivered pursuant to this Indenture unless proof satisfactory to the Indenture Trustee is presented that any such
Notes are held by a protected purchaser; 
 provided, that in determining whether the Holders of the requisite
Outstanding Amount of the Controlling Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder or under any Basic Document, Notes owned by the Issuing Entity, any other obligor upon the Notes, the
Depositor or any Affiliate of any of the foregoing Persons shall be disregarded and deemed not to be Outstanding, except that, in determining whether the 

  
 App. A-18

 
Indenture Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Notes that a Responsible Officer of the Indenture Trustee
has actual knowledge are so owned shall be so disregarded. Notes so owned that have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Indenture Trustee the pledgee’s right so to act
with respect to such Notes and that the pledgee is not the Issuing Entity, any other obligor upon the Notes, the Depositor or any Affiliate of any of the foregoing Persons. 
 “Outstanding Advances” means all Advances by the Servicer minus all reimbursements of Advances to the Servicer pursuant to Section 4.08 and Section 5.04 of the
Sale and Servicing Agreement. 
 “Outstanding Amount” means the aggregate principal amount of all Notes, or
Class of Notes, as applicable, Outstanding at the date of determination. 
 “Overcollateralization Target
Amount” means, with respect to any Payment Date, an amount equal to 4.50% of the aggregate Principal Balance of the Receivables as of the end of the related Collection Period less the Yield Supplement Overcollateralization Amount of those
Receivables as of the last day of the related Collection Period, but not less than the result of 1.00% of the Aggregate Starting Principal Balance of the Receivables minus the Yield Supplement Overcollateralization Amount as of the applicable Cutoff
Date. 
 “Owner Trust Estate” shall mean all right, title and interest of the Trust in and to the property and
rights assigned to the Trust pursuant to Article II of the Sale and Servicing Agreement, all funds on deposit from time to time in the Trust Accounts and all other property of the Trust from time to time, including any rights of the
Trust pursuant to the Sale and Servicing Agreement and the Administration Agreement. 
 “Owner Trustee” shall
mean U.S. Bank Trust National Association, not in its individual capacity but solely as owner trustee under the Trust Agreement, and any successor Owner Trustee thereunder. 
 “Paying Agent” means the Indenture Trustee or any other Person that meets the eligibility standards for the Indenture Trustee specified in Section 6.11 of the Indenture and is
authorized by the Issuing Entity to make payments to and distributions from the Collection Account and the Note Distribution Account, including payments of principal of or interest on the Notes on behalf of the Issuing Entity. 

“Payment Date” means, with respect to each Collection Period, the fifteenth day of the following month or, if such day
is not a Business Day, the immediately following Business Day. The initial Payment Date will be June 17, 2013. 

“Payment Determination Date” means, with respect to any Payment Date, the Business Day immediately preceding such
Payment Date. 

  
 App. A-19

 “Payment Extension Program” means a program where one month’s payment
of principal is deferred in return for the payment of an extension fee calculated generally at the APR of the contract for the month in which such payment is deferred (unless such fee is waived by the Servicer in accordance with the Servicer’s
customary servicing procedures). 
 “Percentage Interest” shall mean, with respect to each Trust Certificate,
the percentage beneficial interest in the Trust represented by such Trust Certificate. 
 “Person” means any
individual, corporation, limited liability company, estate, partnership, joint venture, association, joint stock company, trust (including any beneficiary thereof), unincorporated organization or government or any agency or political subdivision
thereof. 
 “Physical Property” has the meaning assigned to such term in the definition of “Delivery”
above. 
 “Plan” shall have the meaning assigned to such term in Section 3.04 of the Trust
Agreement. 
 “Pool Balance” means, as of any Payment Date, the aggregate Principal Balance of the Receivables
as of the last day of the related Collection Period less the Yield Supplement Overcollateralization Amount as of such day of the related Collection Period after giving effect to all payments of principal received from obligors and Purchase Amounts
to be remitted by the Servicer or the Depositor, as the case may be, plus amounts, if any, on deposit in the Pre-Funding Account, if any, as of the last day of the related Collection Period (after giving effect to any withdrawals therefrom on such
date in connection with the purchase of Subsequent Receivables), for such Collection Period, and after reduction to zero of the aggregate outstanding Principal Balance of any Receivable that became a Defaulted Receivable during the related
Collection Period. 
 “Predecessor Note” means, with respect to any particular Note, every previous Note
evidencing all or a portion of the same debt as that evidenced by such particular Note; and, for the purpose of this definition, any Note authenticated and delivered under Section 2.06 of the Indenture in lieu of a mutilated, lost,
destroyed or stolen Note shall be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Note. 

“Pre-Funded Amount” means with respect to any Payment Date, the amount on deposit in the Pre-Funding Account, if any.

 “Pre-Funding Account” means the account, if any, designated as such, established and maintained pursuant to
Section 5.01(a)(iv) of the Sale and Servicing Agreement. 
 “Pre-Funding Account Initial Deposit”
means Cash or Eligible Investments having a value of $0.00. 
 “Principal Balance” of a Receivable, as of the
close of business on the last day of a Collection Period, means the Amount Financed minus the sum of (i) the portion of all payments made by or on behalf of the related Obligor on or prior to such day and allocable to principal using the Simple
Interest Method; (ii) refunds of any warranty or insurance financed on the original Contract; and (iii) any payment of the Purchase Amount with respect to the Receivable allocable to principal. 

  
 App. A-20

 “Principal Distribution Amount” means, with respect to any Payment Date,
the sum of the following amounts, without duplication, with respect to the Receivables with respect to the related Collection Period: (a) that portion of all collections on Receivables allocable to principal, (b) the principal amount of
Receivables that became Defaulted Receivables during such Collection Period, (c) to the extent attributable to principal, the Purchase Amount of each Receivable that became a Purchased Receivable during such Collection Period, and
(d) partial prepayments received by the Servicer relating to refunds of any warranty or insurance, but only if such amounts were financed by the respective Obligors thereon as of the date of the original contract and only to the extent not
included under clause (a) above; provided, however, that in calculating the Principal Distribution Amount all payments on and proceeds (including Liquidation Proceeds) of any Purchased Receivables the Purchase Amount
of which has been included in the Principal Distribution Amount in a prior Collection Period will be excluded. 

“Proceeding” means any suit in equity, action at law or other judicial or administrative proceeding. 

“Purchase Amount” means, with respect to a Receivable, the amount, as of the close of business on the last day of the
Collection Period as of which that Receivable is purchased, required to prepay in full that Receivable under the terms thereof including accrued and unpaid interest to such last day. 

“Purchase Date” has the meaning assigned to such term in Section 2.01 of the Receivables Purchase Agreement.

 “Purchase Price” has the meaning assigned to such term in Section 2.02 of the Receivables
Purchase Agreement. 
 “Purchased Receivable” means a Receivable purchased as of the close of business on the
last day of a Collection Period by the Servicer pursuant to Section 4.07 or by World Omni pursuant to Section 3.02 of the Sale and Servicing Agreement. 
 “Rating Agencies” means, for so long as such organization is rating a Class of Notes, Fitch and Standard & Poor’s or, if none of such organizations or successors is any
longer in existence, a nationally recognized statistical rating organization or other comparable Person designated by the Depositor, notice of which designation shall be given to the Indenture Trustee, the Owner Trustee and the Servicer. 

“Rating Agency Condition” means, with respect to any action, that each Rating Agency then rating a Class of Notes shall
have received 5 Business Days’ (or such shorter period as shall be acceptable to each Rating Agency) prior written notice and shall not have notified the Depositor that such action will result in a downgrade of the then current rating on any
Notes. 
 “Receivable” means any Contract listed on the Schedule of Receivables attached to an Assignment
(which Schedule may be in the form of microfiche), as such Schedule may be amended from time to time. 

  
 App. A-21

 “Receivable Files” means the documents specified in
Section 3.03 of the Sale and Servicing Agreement. 
 “Receivables Purchase Agreement” shall mean
the Receivables Purchase Agreement, dated as of the Closing Date, between World Omni, as depositor and World Omni Auto Receivables LLC, as purchaser, as amended from time to time. 

“Record Date” means, with respect to a Payment Date or Redemption Date, the close of business on the Business Day
immediately preceding such Payment Date or Redemption Date or, if Definitive Notes have been issued pursuant to Section 2.13 of the Indenture, the Payment Date in the preceding month. 

“Recoveries” means, with respect to any Receivable that becomes a Liquidated Receivable, monies collected in respect
thereof, from whatever source, during any Collection Period following the Collection Period in which such Receivable became a Liquidated Receivable, net of any expenses of the Servicer in connection with such Receivable for which the Servicer has
not been previously reimbursed and any amounts required by law to be remitted to the Obligor. 
 “Redemption
Date” means, in the case of a redemption of the Notes pursuant to Section 10.01 of the Indenture, the Payment Date specified by the Depositor or the Issuing Entity pursuant to Section 10.01 of the Indenture.

 “Redemption Price” means, in connection with a redemption of the Notes pursuant to Section 10.01
of the Indenture, with respect to any Note, an amount equal to the unpaid principal amount of such Note plus accrued and unpaid interest thereon to but excluding the Redemption Date. 

“Registered Holder” means the Person in whose name a Note is registered on the Note Register on the applicable Record
Date. 
 “Regulation AB” means Subpart 229.1100 – Asset Backed Securities (Regulation AB), 17 C.F.R.
§§229.1100-229.1123, as such may be amended from time to time and subject to such clarification and interpretation as have been provided by the Commission in the adopting release (Asset-Backed Securities, Securities Act Release
No. 33-8518. 70 Fed. Reg. 1,506, 1,531 (January 7, 2005)) or by the staff of the Commission, or as may be provided by the Commission or its staff from time to time. 
 “Reporting Officer” means, with respect to the Indenture Trustee, any officer within the Corporate Trust Office of the Indenture Trustee, including any Vice President, Assistant Vice
President, Assistant Treasurer, Assistant Secretary or any other officer, employee or other person of the Indenture Trustee customarily performing functions similar to those performed by any of the above designated officers and, with respect to
each, having direct responsibility for the administration of the Indenture and also, with respect to a particular matter, any other officer, employee or other person to whom such matter is referred because of such officer’s knowledge of and
familiarity with the particular subject, or, with respect to the Owner Trustee, any officer, employee or other person within the Corporate Trust Office of the Owner Trustee having direct responsibility for the administration of the Trust Agreement.

  
 App. A-22

 “Reporting Subcontractor” shall mean with respect to any Person, any
Subcontractor for such Person that is “participating in the servicing function” within the meaning of Item 1122 of Regulation AB. References to a Reporting Subcontractor shall refer only to the Subcontractor of such Person and shall
not refer to Subcontractors generally. 
 “Repurchase Event” shall have the meaning specified in
Section 6.02 of the Receivables Purchase Agreement. 
 “Repurchase Rules and Regulations” shall
have the meaning specified in Section 6.14 of the Indenture. 
 “Required Rate” means
2.65% per annum, or such other rate as shall be approved by the Rating Agencies. 
 “Required Rating”
means a rating on commercial paper or other short term unsecured debt obligations of F-1 by Fitch (if rated by Fitch) so long as Fitch is a Rating Agency and A-1+ by Standard & Poor’s so long as Standard & Poor’s is a
Rating Agency; and any requirement that deposits or debt obligations have the “Required Rating” shall mean that such deposits or debt obligations have the foregoing required ratings from Fitch (if rated by Fitch) and Standard &
Poor’s. 
 “Required Negative Carry Account Balance” means, if applicable, as of any Payment Date, an
amount equal to the lesser of (a) the amount then on deposit in the Negative Carry Account, if any, and (b) the Maximum Negative Carry Amount as of such date. 
 “Required Reserve Amount” means, with respect to any Payment Date, the lesser of (a) 0.25% of the difference of the Aggregate Starting Principal Balance less the Yield Supplement
Overcollateralization Amount as of the applicable Cutoff Date of all Receivables transferred to the Trust and (b) the Outstanding Amount of the Notes. 
 “Reserve Account” means the account designated as such, established and maintained pursuant to Section 5.01(a)(iii) and Section 5.07 of the Sale and Servicing
Agreement. 
 “Reserve Account Initial Deposit” means cash or Eligible Investments having a value of
$2,311,742.39. 
 “Reserve Account Subsequent Transfer Deposit” means with respect to any Subsequent Transfer
Date, cash or Eligible Investments in an amount equal to [RESERVED]% of the aggregate Starting Principal Balance of the transferred Subsequent Receivables as of the applicable Subsequent Transfer Date less the Yield Supplement Overcollateralization
Amount as of the applicable Subsequent Transfer Date, which shall be deposited into the Reserve Account on such Subsequent Transfer Date pursuant to Section 5.01(d) of the Sale and Servicing Agreement. 

“Responsible Officer” means, with respect to the Indenture Trustee, any officer within the Corporate Trust Office of the
Indenture Trustee, including any Vice President, Assistant Vice President, Assistant Treasurer, Assistant Secretary or any other officer of the Indenture Trustee customarily performing functions similar to those performed by any of the above
designated 

  
 App. A-23

 
officers and, with respect to each, having direct responsibility for the administration of the Indenture and also, with respect to a particular matter, any other officer to whom such matter is
referred because of such officer’s knowledge of and familiarity with the particular subject. 
 “Retained
Notes” means [RESERVED]. 
 “RPA Assignment” has the meaning designated in Section 2.01 of
the Receivables Purchase Agreement 
 “Sale and Servicing Agreement” means the Sale and Servicing Agreement,
dated as of the Closing Date, among the Issuing Entity, the Depositor and World Omni, as Servicer, as amended from time to time. 
 “Schedule of Receivables” shall mean each schedule attached to an RPA Assignment or an SSA Assignment specifying the Receivables being transferred, as such Schedule may be amended from
time to time. 
 “Secretary of State” shall mean the Secretary of State of the State of Delaware. 

“Securities Act” means the Securities Act of 1933, as amended. 

“Securitization Transaction” means any transaction effected after the Closing Date involving an issuance of notes
pursuant to the Indenture, whether publicly offered or privately placed, rated or unrated. 
 “Senior Swap Termination
Payment Amount” means any Swap Termination Payment Amount other than a Subordinate Swap Termination Payment Amount, if any. 
 “Servicer” means World Omni, in its capacity as servicer under the Sale and Servicing Agreement, and any Successor Servicer thereunder. 

“Servicer Default” means an event specified in Section 8.01 of the Sale and Servicing Agreement. 

“Servicer’s Certificate” means a certificate of the Servicer delivered pursuant to Section 4.09 of the
Sale and Servicing Agreement. 
 “Servicing Criteria” means the “servicing criteria” set forth in
Item 1122(d) of Regulation AB, as such may be amended from time to time. 
 “Servicing Fee” means the fee
payable to the Servicer for services rendered during each Collection Period, determined pursuant to Section 4.08 of the Sale and Servicing Agreement. 
 “Servicing Fee Rate” means 1% per annum. 
 “Similar
Law” has the meaning assigned to such term in Section 3.04 of the Trust Agreement. 

  
 App. A-24

 “Simple Interest Method” means the method of allocating a fixed level
payment to principal and interest, pursuant to which the portion of such payment that is allocated to interest is equal to the product of the fixed rate of interest multiplied by the unpaid principal balance multiplied by the period of time elapsed
since the preceding payment of interest was made and the remainder of such payment is allocable to principal. 
 “Simple
Interest Receivable” means any Receivable under which the portion of a payment allocable to interest and the portion allocable to principal is determined in accordance with the Simple Interest Method. 

“Sponsor” means World Omni Financial Corp., a Florida corporation, or its successors. 

“SSA Assignment” means the Initial SSA Assignment and any Subsequent Transfer SSA Assignment. 

“Standard & Poor’s” means Standard & Poor’s Ratings Services, a Standard &
Poor’s Financial Services LLC business, or its successor. 
 “Starting Principal Balance” means with
respect to a Receivable, the aggregate principal amount advanced under such Receivable toward the purchase price of the Financed Vehicle or Financed Vehicles, including insurance premiums, service and warranty contracts, federal excise and sales
taxes and other items customarily financed as part of a Receivable and related costs, less payments received from the Obligor prior to the Cutoff Date with respect to such Receivable allocable to principal. 

“State” means any one of the 50 States of the United States of America or the District of Columbia. 

“Statutory Trust Act” shall mean Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code
§ 3801 et seq., as the same may be amended from time to time. 
 “Subcontractor” shall mean
any vendor, subcontractor or other Person that is not responsible for the overall servicing (as “servicing” is commonly understood by participants in the mortgage-backed securities market) of Receivables but performs one or more discrete
functions identified in Item 1122(d) of Regulation AB with respect to the Receivables under the direction or authority of the Servicer or the Indenture Trustee. 
 “Subordinate Swap Termination Payment Amount” means any Swap Termination Payment Amount resulting from a termination where the Swap Counterparty is the Defaulting Party or the sole
Affected Party (each as defined in the applicable Interest Rate Swap) other than terminations arising from a Tax Event or Illegality (each as defined in the applicable Interest Rate Swap) , if any. 

“Subsequent Cutoff Date” means with respect to any Receivable transferred to the Trust after the Closing Date, if any,
the date specified by the Depositor in the month those Receivables are transferred to the Trust. 

  
 App. A-25

 “Subsequent Receivables” means the Receivables transferred from the
Depositor to the Issuing Entity pursuant to Section 2.03 of the Sale and Servicing Agreement, which shall be listed on the schedules to the related Subsequent Transfer SSA Assignment, if any. 

“Subsequent Transfer Date” means any date during the Funding Period, if any, on which Subsequent Receivables are to be
transferred to the Issuing Entity and a related Subsequent Transfer SSA Assignment is executed and delivered to the Issuing Entity and the Indenture Trustee pursuant to Section 2.03 of the Sale and Servicing Agreement. 

“Subsequent Transfer RPA Assignment” has the meaning designated in Section 2.01 of the Receivables Purchase
Agreement. 
 “Subsequent Transfer SSA Assignment” has the meaning assigned thereto in
Section 2.03(a) of the Sale and Servicing Agreement. 
 “Successor Servicer” has the meaning
specified in Section 3.07(e) of the Indenture. 
 “Supplemental Servicing Fees” means late fees,
any prepayment charges, phone pay fees and other administrative fees or similar charges allowed by applicable law with respect to the Receivables collected from Obligors during the related Collection Period. 

“Swap Counterparty” means [RESERVED], and any permitted successor pursuant to the terms of each applicable Interest Rate
Swap, if any. 
 “Swap Counterparty Rights Agreement” means the swap counterparty rights agreement, dated as of
the Closing Date, as amended, supplemented or otherwise modified and in effect from time to time, by and among the Trust, the Swap Counterparty, the Depositor and World Omni, if any. 

“Swap Termination Payment Amount” means any amount due to the Swap Counterparty from the Trust in respect of an Early
Termination Date of the applicable Interest Rate Swap, if any. 
 “Total Available Funds” means with respect to
any Payment Date, an amount equal to Available Funds and funds available from the Negative Carry Account, if any, up to the Negative Carry Amount. 
 “Total Required Advances” means, with respect to any Payment Date for each Receivable (other than a Non-Recoverable Advance Receivable) that is more than 30 days delinquent (determined as
of the close of business on the last day of the related Collection Period), an amount equal to the product of (A) one-twelfth, (B) the APR of such Receivable, (C) the Principal Balance of such Receivable and (D) the number of
payments (minus one) that such Receivable is delinquent as of the last day of the related Collection Period. 

“Transferor Certificate” has the meaning assigned in Section 2.04(a) of the Indenture. 

“Treasury Regulations” shall mean regulations, including proposed or temporary Regulations, promulgated under the Code.
References herein to specific provisions of proposed or temporary regulations shall include analogous provisions of final Treasury Regulations or other successor Treasury Regulations. 

  
 App. A-26

 “Trust” means World Omni Auto Receivables Trust 2013-A, a Delaware
statutory trust. 
 “Trust Account Property” means the Trust Accounts, all amounts and investments held from
time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), including the Reserve Account, the Pre-Funding Account, if any, and the Negative Carry
Account, if any, and all proceeds of the foregoing. 
 “Trust Accounts” has the meaning assigned thereto in
Section 5.01 of the Sale and Servicing Agreement. 
 “Trust Agreement” means the Trust Agreement,
dated as of the Closing Date, between the Depositor and the Owner Trustee, as the same may be amended and supplemented from time to time; such agreement being the amended and restated Trust Agreement contemplated by the Initial Trust Agreement.

 “Trust Certificate” shall mean a certificate evidencing the beneficial interest of a Person in the trust
established by the Trust Agreement and substantially in the form attached as Exhibit A to such Trust Agreement. 

“Trust Estate” means all money, instruments, rights and other property that are subject or intended to be subject to the
lien and security interest of this Indenture for the benefit of the Noteholders (including, without limitation, all property and interests Granted to the Indenture Trustee), including all proceeds thereof. 

“Trust Indenture Act” or “TIA” means the Trust Indenture Act of 1939 as in force as of the Closing
Date, unless otherwise specifically provided. 
 “Trust Officer” means, in the case of the Indenture Trustee,
any Officer within the Corporate Trust Office of the Indenture Trustee, including any Vice President, Assistant Vice President, Secretary, Assistant Secretary or any other officer of the Indenture Trustee customarily performing functions similar to
those performed by any of the above designated officers and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject and,
with respect to the Owner Trustee, any officer within the Corporate Trust Office of the Owner Trustee with direct responsibility for the administration of the Trust Agreement and the Basic Documents on behalf of the Owner Trustee. 

“Trustee Bank” means, U.S. Bank Trust National Association in its individual capacity, each bank appointed as successor
Owner Trustee under the Trust Agreement in its individual capacity and each bank appointed as co-trustee under and to the extent provided in the Trust Agreement in its individual capacity. 

“UCC” means, unless the context otherwise requires, the Uniform Commercial Code, as in effect in the relevant
jurisdiction, as amended from time to time. 

  
 App. A-27

 “WOAR” means World Omni Auto Receivables LLC, a Delaware limited liability
company, or its successors. 
 “World Omni” means World Omni Financial Corp., a Florida corporation, or its
successors. 
 “Yield Supplement Overcollateralization Amount” means, with respect to any calendar month and
the related Payment Date, or with respect to the Initial Cutoff Date or any Subsequent Cutoff Date, the aggregate amount by which the Principal Balance as of the last day of such calendar month or the respective Cutoff Date of each of the related
Receivables with an APR as stated in the related Contract of less than the Required Rate, other than a Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of
each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days. 

  
 App. A-28

 APPENDIX A 
 PART II—RULES OF CONSTRUCTION 
 (A) Accounting Terms. As used in
this Appendix or the Basic Documents, accounting terms which are not defined, and accounting terms partly defined, herein or therein shall have the respective meanings given to them under generally accepted accounting principles. To the extent that
the definitions of accounting terms in this Appendix or the Basic Documents are inconsistent with the meanings of such terms under generally accepted accounting principles, the definitions contained in this Appendix or the Basic Documents will
control. 
 (B) “Hereof,” etc.: The words “hereof,” “herein” and “hereunder” and
words of similar import when used in this Appendix or any Basic Document will refer to this Appendix or such Basic Document as a whole and not to any particular provision of this Appendix or such Basic Document; and Section, Schedule and Exhibit
references contained in this Appendix or any Basic Document are references to Sections, Schedules and Exhibits in or to this Appendix or such Basic Document unless otherwise specified. The word “or” is not exclusive. 

(C) Use of “related” as used in this Appendix and the Basic Documents, with respect to any Payment Date, the
“related Payment Determination Date,” the “related Collection Period,” and the “related Record Date” will mean the Payment Determination Date, the Collection Period, and the Record Date, respectively, immediately
preceding such Payment Date. With respect to any Purchase Date, the “related Cutoff Date” will mean the Cutoff Date established for the closing of the purchase of Receivables on that Purchase Date. 

(D) Use of “outstanding” etc. Whenever the term “outstanding Notes,” “outstanding principal amount”
and words of similar import are used in this Appendix or any Basic Document for purposes of determining whether the Noteholders of the requisite outstanding principal amount of the Notes have given any request, demand, authorization, direction,
notice, consent or waiver hereunder or under any Basic Document, Notes owned by the Issuing Entity, any other obligor upon the Notes, the Depositor or any Affiliate of any of the foregoing Persons (it being understood that the Owner Trustee in its
individual capacity shall not be considered an Affiliate of any of the foregoing) shall be disregarded and deemed not to be outstanding, except that, in determining whether the Indenture Trustee shall be protected in relying upon any such request,
demand, authorization, direction, notice, consent or waiver, only Notes that the Indenture Trustee knows to be so owned shall be so disregarded. Notes so owned that have been pledged in good faith may be regarded as “outstanding” if the
pledgee establishes to the satisfaction of the Indenture Trustee the pledgor’s right so to act with respect to such Notes and that the pledgee is not the Issuing Entity, any other obligor upon the Notes, the Depositor or any Affiliate of any of
the foregoing Persons. 
 (E) Number and Gender. Each defined term used in this Appendix or the Basic Documents has a
comparable meaning when used in its plural or singular form. Each gender-specific term used in this Appendix or the Basic Documents has a comparable meaning whether used in a masculine, feminine or gender-neutral form. 

  
 App. A-29

 (F) Including. Whenever the term “including” (whether or not that term is
followed by the phrase “but not limited to” or “without limitation” or words of similar effect) is used in this Appendix or the Basic Documents in connection with a listing of items within a particular classification, that
listing will be interpreted to be illustrative only and will not be interpreted as a limitation on, or exclusive listing of, the items within that classification. 
 (G) UCC References. References to sections or provisions of Article 9 of the UCC in any of the Basic Documents shall be deemed to be automatically updated to reflect the successor, replacement or
functionally equivalent sections or provisions of Revised Article 9, Secured Transactions (2000) at any time in any jurisdiction which has made such revised article effective. 

(H) References to a Class of Notes. Unless otherwise specified, references to a class of Notes, includes all the tranches included
in such class of Notes. 

  
 App. A-30

 APPENDIX B 
 Additional Representations and Warranties 
  

	 	1.	This Agreement, the Receivables Purchase Agreement and the Indenture create a valid and continuing security interest (as defined in the applicable UCC) in the
Receivables in favor of the Indenture Trustee, which security interest is prior to all other Liens, and is enforceable as such as against creditors of and purchasers from World Omni, the Depositor and the Trust, respectively.

  

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

 

	 	3.	The Receivables constitute “tangible chattel paper” within the meaning of the applicable UCC. 

 

	 	4.	World Omni owns and has good and marketable title to the Receivables and will transfer the Receivables free and clear of any Lien, claim or encumbrance of any Person.

  

	 	5.	World Omni has caused or will have caused, within ten days, the filing of all appropriate financing statements in the proper filing office in the appropriate
jurisdictions under applicable law in order to perfect the security interest in the Receivables granted to the Depositor under the Receivables Purchase Agreement, to the Issuing Entity hereunder and to the Indenture Trustee under the Indenture.

  

	 	6.	Other than (a) any security interests which have been released prior to or in connection with the execution of the Basic Documents and (b) the security
interests granted to the Depositor, the Issuing Entity, and the Indenture Trustee pursuant to the Basic Documents, none of World Omni, the Depositor or the Issuing Entity has pledged, assigned, sold, granted a security interest in, or otherwise
conveyed any of the Receivables. None of World Omni, the Depositor or the Issuing Entity has authorized the filing of, and is not aware of, any financing statements against World Omni, the Depositor or the Issuing Entity that include a description
of collateral covering the Receivables other than any financing statement relating to the security interests granted to the Depositor, the Issuing Entity, and the Indenture Trustee under the Basic Documents or a financing statement that has been
terminated with respect to the Receivables. None of World Omni, the Depositor or the Issuing Entity is aware of any judgment or tax lien filings against World Omni, the Depositor or the Issuing Entity. 

 

	 	7.	World Omni, as Servicer, has in its possession all original copies of the Receivable Files that constitute or evidence the Receivables. The Receivables Files that
constitute or evidence the Receivables do not have any marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person other than the Depositor, the Issuing Entity or the Indenture Trustee. All financing
statements filed or to be filed against World Omni, the Depositor or the Issuing Entity in favor of the Depositor, the Issuing Entity or the Indenture Trustee, respectively, in connection herewith describing the Receivables contain a statement to
the following effect: “A purchase of or security interest in any collateral described in this financing statement will violate the rights of the Noteholders.” 

  
 App. BIndenture

 Exhibit 4.2 

 
  

 
 INDENTURE 

between 
 WORLD
OMNI AUTO RECEIVABLES TRUST 2013-A, 
 as Issuing Entity 
 and 
 DEUTSCHE BANK TRUST COMPANY AMERICAS, 

as Indenture Trustee 
 Dated as of May 29, 2013 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	ARTICLE I	  			
		
	DEFINITIONS AND INCORPORATION BY REFERENCE	  			
	Section 1.01	 	 Definitions
	  	 	2	  
	Section 1.02	 	 Incorporation by Reference of Trust Indenture Act
	  	 	2	  
		
	ARTICLE II	  			
		
	THE NOTES	  			
			
	Section 2.01	 	 Form
	  	 	3	  
	Section 2.02	 	 Execution, Authentication and Delivery
	  	 	3	  
	Section 2.03	 	 Temporary Notes
	  	 	4	  
	Section 2.04	 	 Transfer Restrictions on Notes
	  	 	4	  
	Section 2.05	 	 Registration; Registration of Transfer and Exchange
	  	 	7	  
	Section 2.06	 	 Mutilated, Destroyed, Lost or Stolen Notes
	  	 	8	  
	Section 2.07	 	 Persons Deemed Owner
	  	 	9	  
	Section 2.08	 	 Payment of Principal and Interest; Defaulted Interest
	  	 	9	  
	Section 2.09	 	 Cancellation
	  	 	10	  
	Section 2.10	 	 Release of Collateral
	  	 	11	  
	Section 2.11	 	 Book-Entry Notes
	  	 	11	  
	Section 2.12	 	 Notices to Clearing Agency
	  	 	12	  
	Section 2.13	 	 Definitive Notes
	  	 	12	  
	Section 2.14	 	 Tax Treatment
	  	 	12	  
	Section 2.15	 	 CUSIP Numbers
	  	 	12	  
		
	ARTICLE III	  			
		
	COVENANTS	  			
	Section 3.01	 	 Payment of Principal and Interest
	  	 	13	  
	Section 3.02	 	 Maintenance of Office or Agency
	  	 	13	  
	Section 3.03	 	 Money for Payments to Be Held in Trust
	  	 	13	  
	Section 3.04	 	 Existence
	  	 	15	  
	Section 3.05	 	 Protection of Trust Estate
	  	 	15	  
	Section 3.06	 	 Opinions as to Trust Estate
	  	 	16	  
	Section 3.07	 	 Performance of Obligations; Servicing of Receivables
	  	 	16	  
	Section 3.08	 	 Negative Covenants
	  	 	18	  
	Section 3.09	 	 Annual Statement as to Compliance
	  	 	19	  
	Section 3.10	 	 Issuing Entity May Consolidate, etc., Only on Certain Terms
	  	 	19	  

  
 i 

							
	Section 3.11	 	 Successor or Transferee
	  	 	21	  
	Section 3.12	 	 No Other Business
	  	 	21	  
	Section 3.13	 	 No Borrowing
	  	 	21	  
	Section 3.14	 	 Servicer’s Obligations
	  	 	21	  
	Section 3.15	 	 Guarantees, Loans, Advances and Other Liabilities
	  	 	21	  
	Section 3.16	 	 Capital Expenditures
	  	 	22	  
	Section 3.17	 	 Removal of Administrator
	  	 	22	  
	Section 3.18	 	 Restricted Payments
	  	 	22	  
	Section 3.19	 	 Notice of Events of Default
	  	 	22	  
	Section 3.20	 	 Further Instruments and Acts
	  	 	22	  
		
	ARTICLE IV	  			
		
	SATISFACTION AND DISCHARGE	  			
			
	Section 4.01	 	 Satisfaction and Discharge of Indenture
	  	 	22	  
	Section 4.02	 	 Application of Trust Money
	  	 	23	  
	Section 4.03	 	 Repayment of Monies Held by Paying Agent
	  	 	24	  
		
	ARTICLE V	  			
		
	REMEDIES	  			
			
	Section 5.01	 	 Events of Default
	  	 	24	  
	Section 5.02	 	 Acceleration of Maturity; Rescission and Annulment
	  	 	26	  
	Section 5.03	 	 Collection of Indebtedness and Suits for Enforcement by Indenture Trustee
	  	 	26	  
	Section 5.04	 	 Remedies; Priorities
	  	 	28	  
	Section 5.05	 	 Optional Preservation of the Receivables
	  	 	29	  
	Section 5.06	 	 Limitation of Suits
	  	 	30	  
	Section 5.07	 	 Unconditional Rights of Noteholders to Receive Principal and Interest
	  	 	30	  
	Section 5.08	 	 Restoration of Rights and Remedies
	  	 	31	  
	Section 5.09	 	 Rights and Remedies Cumulative
	  	 	31	  
	Section 5.10	 	 Delay or Omission Not a Waiver
	  	 	31	  
	Section 5.11	 	 Control by Noteholders
	  	 	31	  
	Section 5.12	 	 Waiver of Past Defaults
	  	 	32	  
	Section 5.13	 	 Undertaking for Costs
	  	 	32	  
	Section 5.14	 	 Waiver of Stay or Extension Laws
	  	 	32	  
	Section 5.15	 	 Action on Notes
	  	 	33	  
	Section 5.16	 	 Performance and Enforcement of Certain Obligations
	  	 	33	  
		
	ARTICLE VI	  			
		
	THE INDENTURE TRUSTEE	  			
			
	Section 6.01	 	 Duties of Indenture Trustee
	  	 	34	  

  
 ii 

							
	Section 6.02	 	 Rights of Indenture Trustee
	  	 	35	  
	Section 6.03	 	 Individual Rights of Indenture Trustee
	  	 	37	  
	Section 6.04	 	 Indenture Trustee’s Disclaimer
	  	 	37	  
	Section 6.05	 	 Notice of Defaults
	  	 	37	  
	Section 6.06	 	 Reports by Indenture Trustee
	  	 	37	  
	Section 6.07	 	 Compensation and Indemnity
	  	 	37	  
	Section 6.08	 	 Replacement of Indenture Trustee
	  	 	38	  
	Section 6.09	 	 Successor Indenture Trustee by Merger
	  	 	39	  
	Section 6.10	 	 Appointment of Co-Indenture Trustee or Separate Indenture Trustee
	  	 	40	  
	Section 6.11	 	 Eligibility; Disqualification
	  	 	41	  
	Section 6.12	 	 Preferential Collection of Claims Against Issuing Entity
	  	 	41	  
	Section 6.13	 	 Representations and Warranties of the Indenture Trustee
	  	 	41	  
	Section 6.14	 	 Communications Regarding Demands to Repurchase Receivables
	  	 	42	  
		
	ARTICLE VII	  			
		
	NOTEHOLDERS’ LISTS AND REPORTS	  			
			
	Section 7.01	 	 Issuing Entity to Furnish Indenture Trustee Names and Addresses of Noteholders
	  	 	43	  
	Section 7.02	 	 Preservation of Information; Communications to Noteholders
	  	 	43	  
	Section 7.03	 	 Reports by Issuing Entity
	  	 	43	  
	Section 7.04	 	 Reports by Indenture Trustee
	  	 	44	  
		
	ARTICLE VIII	  			
		
	ACCOUNTS, DISBURSEMENTS AND RELEASES	  			
			
	Section 8.01	 	 Collection of Money
	  	 	44	  
	Section 8.02	 	 Trust Accounts
	  	 	45	  
	Section 8.03	 	 General Provisions Regarding Accounts
	  	 	47	  
	Section 8.04	 	 Release of Trust Estate
	  	 	47	  
	Section 8.05	 	 Opinion of Counsel
	  	 	48	  
		
	ARTICLE IX	  			
		
	SUPPLEMENTAL INDENTURES	  			
			
	Section 9.01	 	 Supplemental Indentures Without Consent of Noteholders
	  	 	48	  
	Section 9.02	 	 Supplemental Indentures with Consent of Noteholders
	  	 	50	  
	Section 9.03	 	 Execution of Supplemental Indentures
	  	 	51	  
	Section 9.04	 	 Effect of Supplemental Indenture
	  	 	52	  
	Section 9.05	 	 Conformity with Trust Indenture Act
	  	 	52	  
	Section 9.06	 	 Reference in Notes to Supplemental Indentures
	  	 	52	  

  
 iii

							
		
	ARTICLE X	  			
		
	REDEMPTION OF NOTES	  			
			
	Section 10.01	 	 Redemption
	  	 	52	  
	Section 10.02	 	 Form of Redemption Notice
	  	 	53	  
	Section 10.03	 	 Notes Payable on Redemption Date
	  	 	53	  
		
	ARTICLE XI	  			
		
	MISCELLANEOUS	  			
			
	Section 11.01	 	 Compliance Certificates and Opinions, etc.
	  	 	53	  
	Section 11.02	 	 Form of Documents Delivered to Indenture Trustee
	  	 	55	  
	Section 11.03	 	 Acts of Noteholders
	  	 	56	  
	Section 11.04	 	 Notices, etc., to Indenture Trustee, Issuing Entity and Rating Agencies
	  	 	57	  
	Section 11.05	 	 Notices to Noteholders; Waiver
	  	 	57	  
	Section 11.06	 	 Alternate Payment and Notice Provisions
	  	 	58	  
	Section 11.07	 	 Conflict with Trust Indenture Act
	  	 	58	  
	Section 11.08	 	 Effect of Headings and Table of Contents
	  	 	58	  
	Section 11.09	 	 Successors and Assigns
	  	 	58	  
	Section 11.10	 	 Severability
	  	 	58	  
	Section 11.11	 	 Benefits of Indenture
	  	 	58	  
	Section 11.12	 	 Legal Holidays
	  	 	58	  
	Section 11.13	 	 GOVERNING LAW
	  	 	59	  
	Section 11.14	 	 Counterparts
	  	 	59	  
	Section 11.15	 	 Recording of Indenture
	  	 	59	  
	Section 11.16	 	 Trust Obligation
	  	 	59	  
	Section 11.17	 	 No Petition
	  	 	60	  
	Section 11.18	 	 Inspection
	  	 	60	  
	Section 11.19	 	 Waiver of Jury Trial
	  	 	60	  
		
	ARTICLE XII	  			
		
	COMPLIANCE WITH REGULATION AB	  			
			
	Section 12.01	 	 Intent of the Parties; Reasonableness
	  	 	61	  
	Section 12.02	 	 Additional Representations and Warranties of the Indenture Trustee
	  	 	61	  
	Section 12.03	 	 Information to Be Provided by the Indenture Trustee
	  	 	61	  
	Section 12.04	 	 Regulation AB Reports by Indenture Trustee
	  	 	63	  

  
 iv 

					
	SCHEDULE A	 	  –  	  	Schedule of Receivables
			
	EXHIBIT A-1	 	–	  	Form of Class A-1 Note
	EXHIBIT A-2	 	–	  	Form of Class A-2 Note
	EXHIBIT A-3	 	–	  	Form of Class A-3 Note
	EXHIBIT A-4	 	–	  	Form of Class A-4 Note
	EXHIBIT B	 	–	  	Form of Class B Note
	EXHIBIT C	 	–	  	Servicing Criteria for Indenture Trustee’s Assessment of Compliance
	EXHIBIT D	 	–	  	Form of Indenture Trustee’s Annual Certification
	EXHIBIT E	 	–	  	Form of Transferor Certificate
	EXHIBIT F	 	–	  	Form of Investment Letter

  
 v 

 THIS INDENTURE dated as of May 29, 2013 (as it may be amended and supplemented from
time to time, “Indenture”), between WORLD OMNI AUTO RECEIVABLES TRUST 2013-A, a Delaware statutory trust (the “Issuing Entity”), and DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York banking corporation, as trustee
and not in its individual capacity (the “Indenture Trustee”). 
 Each party agrees as follows for the benefit
of the other party and for the equal and ratable benefit of the Holders of the Issuing Entity’s Class A-1 0.23000% Asset-Backed Notes (the “Class A-1 Notes”), Class A-2 0.43% Asset-Backed Notes (the
“Class A-2 Notes”), Class A-3 0.64% Asset-Backed Notes (the “Class A-3 Notes”), Class A-4 0.87% Asset-Backed Notes (the “Class A-4 Notes”) and Class B 1.13% Asset-Backed Notes (the
“Class B Notes” and, together with the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes, the “Notes”): 

GRANTING CLAUSE 

The Issuing Entity hereby Grants to the Indenture Trustee at the Closing Date, as Indenture Trustee for the benefit of the Holders of the
Notes and the Swap Counterparty, if any, all of the Issuing Entity’s right, title and interest, whether now or hereafter acquired, and wherever located, in and to (a) the Initial Receivables identified on the Initial SSA Assignment (all of
which are identified in World Omni’s computer files by a code indicating that such Receivables are owned by the Issuing Entity and pledged to the Indenture Trustee) and Subsequent Receivables, if any, which will be acquired by the Issuing
Entity from time to time during the Funding Period, if any, pursuant to the Sales and Servicing Agreement which will be identified on the schedules to the Subsequent Transfer SSA Assignments, if any, with respect to such Subsequent Receivables and
all monies received thereon and in respect thereof after the applicable Cutoff Date; (b) the security interests in, and the liens on, the Financed Vehicles granted by Obligors in connection with the Receivables and any other interest of the
Issuing Entity in such Financed Vehicles; (c) any proceeds with respect to the Receivables from claims on any physical damage, credit life or disability insurance policies covering Financed Vehicles or Obligors; (d) any Financed Vehicle
that shall have secured a Receivable and that shall have been acquired by or on behalf of the Depositor, the Servicer or the Issuing Entity; (e) all right, title and interest in all funds on deposit in, and “financial assets” (as such
term is defined in the Uniform Commercial Code as from time to time in effect) credited to, the Trust Accounts, including the Reserve Account, the Negative Carry Account, if any, and the Pre-Funding Account, if any, from time to time, including the
Reserve Account Initial Deposit, any Reserve Account Subsequent Transfer Deposit, if any, the Negative Carry Account Initial Deposit, if any, and the Pre-Funding Account Initial Deposit, if any, and in all investments and proceeds thereof (including
all income thereon); (f) the Receivables Purchase Agreement, including the Initial RPA Assignment and any Subsequent RPA Assignment, and the Sale and Servicing Agreement, including the Initial SSA Assignment and any Subsequent Transfers SSA
Assignment (including the Issuing Entity’s right to cause World Omni, the Servicer or the Depositor to repurchase Receivables from the Issuing Entity under certain circumstances described therein); (g) all “accounts,”
“chattel paper,” “general intangibles” and “promissory notes” (as such terms are defined in the UCC) constituting or relating to the foregoing; (h) the Interest Rate Swaps and the Swap Counterparty Rights
Agreement, if any; and (i) all proceeds of any and all of the foregoing (including Liquidation 

 
Proceeds) and all present and future claims, demands, causes of action and choses in action in respect of any or all of the foregoing and all payments on or under and all proceeds of every kind
and nature whatsoever in respect of any or all of the foregoing, including all proceeds of the conversion thereof, voluntary or involuntary, into cash or other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts,
acceptances, chattel paper, checks, deposit accounts, insurance proceeds, condemnation awards, rights to payment of any and every kind and other forms of obligations and receivables, instruments, general intangibles and other property which at any
time constitute all or part of or are included in the proceeds of any of the foregoing; provided, however, that the foregoing items (a) through (i) shall not include the Notes and Trust Certificates (collectively, the
“Collateral”). 
 The foregoing Grant is made in trust to secure the payment of principal of and interest on,
and any other amounts owing in respect of, the Notes and the Interest Rate Swaps, if any, equally and ratably without prejudice, priority or distinction, and to secure compliance with the provisions of this Indenture, all as provided in this
Indenture. 
 The Indenture Trustee, as Indenture Trustee on behalf of the Holders of the Notes, acknowledges such Grant,
accepts the trusts under this Indenture in accordance with the provisions of this Indenture and agrees to perform its duties required in this Indenture to the end that the interests of the Holders of the Notes and the Swap Counterparty, if any may
be adequately and effectively protected. 
 ARTICLE I 

DEFINITIONS AND INCORPORATION BY REFERENCE 
 Section 1.01 Definitions. Certain capitalized terms used in this Indenture shall have the respective meanings assigned them in Part I of Appendix A to the Sale and Servicing
Agreement of even date herewith between the Issuing Entity and World Omni Auto Receivables LLC. All references herein to “the Indenture” or “this Indenture” are to this Indenture as it may be amended, supplemented
or modified from time to time, the exhibits hereto and the capitalized terms used herein which are defined in such Appendix A. All references herein to Articles, Sections, subsections and exhibits are to Articles, Sections, subsections and
exhibits contained in or attached to this Indenture unless otherwise specified. All terms defined in this Indenture shall have the defined meanings when used in any certificate, notice, Note or other document made or delivered pursuant hereto unless
otherwise defined therein. The rules of construction set forth in Part II of such Appendix A shall be applicable to this Indenture. 
 Section 1.02 Incorporation by Reference of Trust Indenture Act. Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this
Indenture. The following TIA terms used in this Indenture have the following meanings: 
 “indenture securities”
means the Notes. 
 “indenture security holder” means a Noteholder. 

“indenture to be qualified” means this Indenture. 

  
 2 

 “indenture trustee” or “institutional trustee” means the
Indenture Trustee. 
 “obligor” on the indenture securities means the Issuing Entity and any other obligor on
the indenture securities. 
 All other TIA terms used in this Indenture that are defined by the TIA, defined by TIA reference to
another statute or defined by Commission rule have the meaning assigned to them by such definitions. 
 ARTICLE II

 THE NOTES 
 Section 2.01 Form. The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes, in each case together with the Indenture
Trustee’s certificate of authentication, shall be in substantially the form set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4 and Exhibit B, respectively, with such
appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may,
consistently herewith, be determined by the officers executing such Notes, as evidenced by their execution of the Notes. Any portion of the text of any Note may be set forth on the reverse thereof, with an appropriate reference thereto on the face
of the Note. 
 The definitive Notes shall be typewritten, printed, lithographed or engraved or produced by any combination of
these methods (with or without steel engraved borders), all as determined by the officers executing such Notes, as evidenced by their execution of such Notes. 
 Each Note shall be dated the date of its authentication. The terms of the Notes set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4, and
Exhibit B are part of the terms of this Indenture. 
 Section 2.02 Execution, Authentication and Delivery.
The Notes shall be executed on behalf of the Issuing Entity by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. 

Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuing Entity shall bind
the Issuing Entity, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. 

The Indenture Trustee shall upon receipt of an Issuing Entity Order authenticate and deliver Class A-1 Notes for original issue in
an aggregate principal amount of $245,000,000, Class A-2 Notes for original issue in an aggregate principal amount of $275,000,000, Class A-3 Notes for original issue in an aggregate principal amount of $270,000,000, Class A-4 Notes
for 

  
 3 

 
original issue in an aggregate principal amount of $94,934,000 and Class B Notes for original issue in an aggregate principal amount of $18,957,000. The aggregate principal amount of
Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes and Class B Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. 

Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes in the minimum denomination of
$1,000 and in integral multiples thereof; provided, that the minimum amounts of any Retained Notes shall be subject to the restrictions set forth in Section 2.04. 

No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Note
a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the
only evidence, that such Note has been duly authenticated and delivered hereunder. 
 Section 2.03 Temporary Notes.
Pending the preparation of definitive Notes, the Issuing Entity may execute, and upon receipt of an Issuing Entity Order the Indenture Trustee shall authenticate and deliver, temporary Notes that are printed, lithographed, typewritten, mimeographed
or otherwise produced, of the tenor of the definitive Notes in lieu of which they are issued and with such variations not inconsistent with the terms of this Indenture as the officers executing such Notes may determine, as evidenced by their
execution of such Notes. 
 If temporary Notes are issued, the Issuing Entity shall cause definitive Notes to be prepared
without unreasonable delay. After the preparation of definitive Notes, the temporary Notes shall be exchangeable for definitive Notes upon surrender of the temporary Notes at the office or agency of the Issuing Entity to be maintained as provided in
Section 3.02, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Notes, the Issuing Entity shall execute, and the Indenture Trustee shall authenticate and deliver in exchange therefor, a like
principal amount of definitive Notes of authorized denominations. Until so exchanged, the temporary Notes shall in all respects be entitled to the same benefits under this Indenture as definitive Notes. 

Section 2.04 Transfer Restrictions on Notes  
 (a) As of the date of this Indenture, the Retained Notes have not been registered under the Securities Act and will not be listed on any exchange. Unless and until such Notes have been sold pursuant to a
transaction registered under the Securities Act, no transfer of such a Note shall be made unless such transfer is made pursuant to an effective registration statement under the Securities Act and any applicable state securities laws or is exempt
from the registration requirements under the Securities Act and such state securities laws. Except in a transfer pursuant to Rule 144A or a transfer to the Depositor or by the Depositor to an Affiliate thereof, in the event that a transfer is to be
made in reliance upon an exemption from the Securities Act and state securities laws, in order to assure compliance with the Securities Act and such laws, the Noteholder desiring to effect such transfer and such Noteholder’s prospective

  
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transferee shall each certify to the Issuing Entity, the Indenture Trustee and WOAR in writing the facts surrounding the transfer in substantially the forms set forth in Exhibit E (the
“Transferor Certificate”) and Exhibit F (the “Investment Letter”). Except in a transfer pursuant to Rule 144A or a transfer to the Depositor or by the Depositor to an Affiliate thereof, there shall also be
delivered to Issuing Entity and the Indenture Trustee an Opinion of Counsel that such transfer may be made pursuant to an exemption from the Securities Act and state securities laws, which opinion of counsel shall not be an expense of the Trust, the
Owner Trustee or the Indenture Trustee (unless it is the transferee from whom such opinion is to be obtained) or of WOAR or World Omni; provided that such opinion of counsel in respect of the applicable state securities laws may be a
memorandum of law rather than an opinion if such counsel is not licensed in the applicable jurisdiction. WOAR shall provide to any Noteholder and any prospective transferee designated by any such Noteholder information regarding the Retained Notes
and the Receivables and such other information as shall be necessary to satisfy the condition to eligibility set forth in Rule 144A(d)(4) for transfer of any such Retained Notes without registration thereof under the Securities Act pursuant to the
registration exemption provided by Rule 144A. Each Noteholder desiring to effect such a transfer shall, and does hereby agree to, indemnify the Issuing Entity, the Owner Trustee, the Indenture Trustee, WOAR and World Omni (in any capacity) against
any liability that may result if the transfer is not so exempt or is not made in accordance with federal and state securities laws. 
 (b) Except in a transfer to the Depositor or by the Depositor to an Affiliate thereof that is a United States Person (within the meaning of Section 7701(a)(30) of the Code), transfer of a Retained
Note shall not be made to any Person unless counsel satisfactory to the Indenture Trustee has rendered an opinion to the effect that such Notes to be sold, pledged, or otherwise transferred by the Depositor or its Affiliates will be characterized as
indebtedness for United States federal income tax purposes after such sale, pledge, or other transfer. Any attempted sale, pledge, or other transfer in contravention of this subsection (b) will be void ab initio and the purported
transferor will continue to be treated as the owner of the Retained Notes. 
 (c) [Reserved]. 

(d) By acquiring a Class A-1 Note, Class A-2 Note, Class A-3 Note, Class A-4 Note or a Class B Note, each initial
purchaser, transferee and owner of a beneficial interest in such Note will be deemed to represent that either (1) it is not acquiring the Notes with the assets of any Plan or (2) the acquisition and holding of such Notes will not give rise
to a nonexempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code or Similar Law. Each Class A-1 Note, Class A-2 Note, Class A-3 Note, Class A-4 Note or a Class B Note will bear a legend
reflecting such deemed representation. 
 (e) By directly or indirectly acquiring a Retained Note in a transaction pursuant to
Rule 144A, each initial purchaser, transferee and owner of a beneficial interest will be deemed to represent, warrant and agree as follows: 
 (i) it understands that such Notes have not been registered under the Securities Act, and may not be sold except as permitted in the following sentence. It understands and agrees, on its own behalf and on
behalf of any accounts for which it is acting as hereinafter stated, (x) that such Notes are being 

  
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offered only in a transaction not involving any public offering within the meaning of the Securities Act and (y) that such Notes may be resold, pledged or transferred only (i) to the
Depositor, (ii) to an “accredited investor” as defined in Rule 501(a)(1),(2),(3) or (7) of Regulation D under the Securities Act (an “Accredited Investor”) acting for its own account (and not for the account of
others) or as a fiduciary or agent for others (which others also are Accredited Investors unless the holder is a bank acting in its fiduciary capacity) that executes a certificate substantially in the form of the Investment Letter, (iii) so
long as such Note is eligible for resale pursuant to Rule 144A under the Securities Act, to a person whom it reasonably believes after due inquiry is a “qualified institutional buyer” as defined in Rule 144A, acting for its own account
(and not for the account of others) or as a fiduciary or agent for others (which others also are “qualified institutional buyers”) to whom notice is given that the resale, pledge or transfer is being made in reliance on Rule 144A or
(iv) in a sale, pledge or other transfer made in a transaction otherwise exempt from the registration requirements of the Securities Act, in which case the Indenture Trustee shall require that both the prospective transferor and the prospective
transferee certify to the Indenture Trustee and the Depositor in writing the facts surrounding such transfer, which certification shall be in form and substance satisfactory to the Indenture Trustee and the Depositor. Except in the case of a
transfer described in clauses (i) or (iii) above, the Indenture Trustee shall require that a written opinion of counsel (which will not be at the expense of the Depositor, any affiliate of the Depositor or the Indenture
Trustee), satisfactory to the Indenture Trustee and the Depositor, be delivered to the Indenture Trustee and the Depositor to the effect that such transfer will not violate the Securities Act, and will be effected in accordance with any applicable
securities laws of each state of the United States. It will notify any purchaser of such Notes from it of the above resale restrictions, if then applicable. It further understands that in connection with any transfer of such Notes by it that the
Indenture Trustee and the Depositor may request, and if so requested it will furnish, such certificates and other information as they may reasonably require to confirm that any such transfer complies with the foregoing restrictions; 

(ii) it is a “qualified institutional buyer” as defined under Rule 144A under the Securities Act and is
acquiring such Notes for its own account (and not for the account of others) or as a fiduciary or agent for others (which others also are “qualified institutional buyers”). It is familiar with Rule 144A under the Securities Act and is
aware that the seller of such Notes and other parties intend to rely on the foregoing representations, warranties and acknowledgements and the exemption from the registration requirements of the Securities Act provided by Rule 144A; 

(iii) [Reserved]; 
 (iv) it understands that Issuing Entity, the Indenture Trustee, the Depositor and others will rely upon the truth and accuracy of the foregoing acknowledgments, representations and agreements, and it
agrees that if any of the acknowledgments, representations and warranties deemed to have been made by 

  
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it by its purchase of such Notes, for its own account or for one or more accounts as to each of which it exercises sole investment discretion, are no longer accurate, it shall promptly notify the
Depositor; and 
 (v) Issuing Entity, the Indenture Trustee and the Depositor are entitled to rely upon the
foregoing representations, warranties and acknowledgements and are irrevocably authorized to produce the foregoing representations, warranties and acknowledgments or a copy hereof to any interested party in any administrative or legal proceeding or
official inquiry with respect to the matters covered hereby. 
 Section 2.05 Registration; Registration of Transfer and
Exchange. The Issuing Entity shall cause to be kept a register (the “Note Register”) in which the Issuing Entity shall provide for the registration of Notes and the registration of transfers of Notes. The Indenture Trustee
initially shall be the “Note Registrar” for the purpose of registering Notes and transfers of Notes as herein provided. Upon any resignation of any Note Registrar, the Issuing Entity shall promptly appoint a successor or, if it
elects not to make such an appointment, assume the duties of Note Registrar. 
 If a Person other than the Indenture Trustee is
appointed by the Issuing Entity as Note Registrar, the Issuing Entity will give the Indenture Trustee prompt written notice of the appointment of such Note Registrar and of the location, and any change in the location, of the Note Register, and the
Indenture Trustee shall have the right to inspect the Note Register at all reasonable times and to obtain copies thereof, and the Indenture Trustee shall have the right to rely upon a certificate executed on behalf of the Note Registrar by an
Executive Officer thereof as to the names and addresses of the Holders of the Notes and the principal amounts and number of such Notes. 
 Upon surrender for registration of transfer of any Note at the office or agency of the Issuing Entity to be maintained as provided in Section 3.02, if the requirements of Section 8-401 of
the UCC are met the Issuing Entity shall execute, and the Indenture Trustee shall authenticate and the Noteholder shall obtain from the Indenture Trustee, in the name of the designated transferee or transferees, one or more new Notes of the same
Class in any authorized denominations, of a like aggregate principal amount. 
 At the option of the Holder, Notes may be
exchanged for other Notes of the same Class in any authorized denominations, of a like aggregate principal amount, upon surrender of the Notes to be exchanged at such office or agency. Whenever any Notes are so surrendered for exchange, if the
requirements of Section 8-401 of the UCC are met the Issuing Entity shall execute, and the Indenture Trustee shall authenticate and the Noteholder shall obtain from the Indenture Trustee, the Notes which the Noteholder making the exchange is
entitled to receive. 
 All Notes issued upon any registration of transfer or exchange of Notes shall be the valid obligations
of the Issuing Entity, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Notes surrendered upon such registration of transfer or exchange. 

  
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 Every Note presented or surrendered for registration of transfer or exchange shall be duly
endorsed by, or be accompanied by a written instrument of transfer in form satisfactory to the Indenture Trustee duly executed by, the Holder thereof or such Holder’s attorney duly authorized in writing, with such signature guaranteed by an
“eligible guarantor institution” meeting the requirements of the Note Registrar, which requirements include membership or participation in the Securities Transfer Agent’s Medallion Program (“STAMP”) or such other
“signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Exchange Act. 
 No service charge shall be made to a Holder for any registration of transfer or exchange of Notes, but the Issuing Entity or the Note Registrar may require payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in connection with any registration of transfer or exchange of Notes, other than exchanges pursuant to Section 2.03 or 9.06 not involving any transfer. 

The preceding provisions of this Section notwithstanding, the Issuing Entity shall not be required to make and the Note Registrar need
not register transfers or exchanges of Notes selected for redemption or of any Note for a period of 15 days preceding the due date for any payment with respect to the Note. 
 Section 2.06 Mutilated, Destroyed, Lost or Stolen Notes. If (i) any mutilated Note is surrendered to the Indenture Trustee or Note Registrar, or the Indenture Trustee receives evidence to
its satisfaction of the destruction, loss or theft of any Note, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuing Entity and the Indenture Trustee harmless, then, in the
absence of notice to the Issuing Entity, the Note Registrar or the Indenture Trustee that such Note has been acquired by a protected purchaser, and provided that the requirements of Sections 8-405 and 8-406 of the UCC are met, the Issuing Entity
shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Note, a replacement Note of the same Class; provided, however, that
if any such destroyed, lost or stolen Note, but not a mutilated Note, shall have become or within seven days shall be due and payable, or shall have been called for redemption, instead of issuing a replacement Note, the Issuing Entity may pay such
destroyed, lost or stolen Note when so due or payable or upon the Redemption Date without surrender thereof. If, after the delivery of such replacement Note or payment of a destroyed, lost or stolen Note pursuant to the proviso to the preceding
sentence, a protected purchaser of the original Note in lieu of which such replacement Note was issued presents for payment such original Note, the Issuing Entity and the Indenture Trustee shall be entitled to recover such replacement Note (or such
payment) from the Person to whom it was delivered or any Person taking such replacement Note from such Person to whom such replacement Note was delivered or any assignee of such Person, except a protected purchaser, and 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 Issuing Entity or the Indenture Trustee in connection therewith. 

Upon the issuance of any replacement Note under this Section, the Issuing Entity may require the payment by the Holder of such Note of a
sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. 

  
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 Every replacement Note issued pursuant to this Section in replacement of any mutilated,
destroyed, lost or stolen Note shall constitute an original additional contractual obligation of the Issuing Entity, whether or not the mutilated, destroyed, lost or stolen Note shall be at any time enforceable by anyone, and shall be entitled to
all the benefits of this Indenture equally and proportionately with any and all other Notes duly issued hereunder. 
 The
provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes. 

Section 2.07 Persons Deemed Owner. Prior to due presentment for registration of transfer of any Note, the Issuing Entity, the
Indenture Trustee and any agent of the Issuing Entity or the Indenture Trustee may treat the Person in whose name any Note is registered (as of the day of determination) as the owner of such Note for the purpose of receiving payments of principal of
and interest, if any, on such Note and for all other purposes whatsoever, whether or not such Note be overdue, and none of the Issuing Entity, the Indenture Trustee or any agent of the Issuing Entity or the Indenture Trustee shall be affected by
notice to the contrary. 
 Section 2.08 Payment of Principal and Interest; Defaulted Interest. 

(a) The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes shall
accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate and the Class B Interest Rate, respectively, and
such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(c), (d) and (e), as applicable, subject to Section 3.01. Interest on the Class A-2 Notes,
the Class A-3 Notes, the Class A-4 Notes and the Class B Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes will be calculated on the basis of the actual number
of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the
preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable
on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check mailed
first-class postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the
Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its affiliates, payment will be made by wire transfer in immediately available funds to the account designated by
such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable class Final Scheduled Payment Date (and except for the Redemption Price for any Note called for
redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03. 

  
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 (b) Prior to the occurrence of an Event of Default and a declaration in accordance with
Section 5.02 that the Notes have become immediately due and payable, the Outstanding Amount of each Class of Notes shall be payable in full on the Final Scheduled Payment Date for such class and, to the extent of funds available
therefor, in installments on the Payment Dates (if any) preceding the Final Scheduled Payment Date for such Class, in the amounts and in accordance with the priorities set forth in Section 8.02(c), subject to Section 3.01.

 (c) Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable, if not
previously paid, on the date on which an Event of Default shall have occurred and be continuing, if the Indenture Trustee or Holders of the Notes representing not less than 50% of the Outstanding Amount of the Controlling Securities have declared
the Notes to be immediately due and payable in the manner provided in Section 5.02. In such case, principal shall be paid in accordance with the priorities set forth in Section 8.02(d) or Section 8.02(e), as the
case may be. The Indenture Trustee shall notify the Person in whose name a Note is registered at the close of business on the Record Date preceding the Payment Date on which the Issuing Entity expects that the final installment of principal of and
interest on such Note will be paid. Such notice shall be mailed or transmitted by facsimile prior to such final Payment Date and shall specify that such final installment will be payable only upon presentation and surrender of such Note and shall
specify the place where such Note may be presented and surrendered for payment of such installment. Notices in connection with redemptions of Notes shall be mailed to Noteholders as provided in Section 10.02. 

(d) If the Issuing Entity defaults in a payment of interest on the Notes, the Issuing Entity shall pay defaulted interest (plus interest
on such defaulted interest to the extent lawful) at the applicable Interest Rate in any lawful manner. The Issuing Entity may pay such defaulted interest to the persons who are Noteholders on a subsequent special record date, which date shall be at
least five Business Days prior to the payment date. The Issuing Entity shall fix or cause to be fixed any such special record date and payment date, and, at least 15 days before any such special record date, the Issuing Entity shall mail to each
Noteholder a notice that states the special record date, the payment date and the amount of defaulted interest to be paid. 

Section 2.09 Cancellation. All Notes surrendered for payment, registration of transfer, exchange or redemption shall, if
surrendered to any Person other than the Indenture Trustee, be delivered to the Indenture Trustee and shall be promptly cancelled by the Indenture Trustee. The Issuing Entity may at any time deliver to the Indenture Trustee for cancellation any
Notes previously authenticated and delivered hereunder which the Issuing Entity may have acquired in any manner whatsoever, and all Notes so delivered shall be promptly cancelled by the Indenture Trustee. No Notes shall be authenticated in lieu of
or in exchange for any Notes cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Notes may be held or disposed of by the Indenture Trustee in accordance with its standard retention or disposal policy
as in effect at the time unless the Issuing Entity shall direct by an Issuing Entity Order that they be returned to it; provided, that such Issuing Entity Order is timely and the Notes have not been previously disposed of by the Indenture
Trustee. 

  
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 Section 2.10 Release of Collateral. Subject to Section 11.01 and the
terms of the Basic Documents, the Indenture Trustee shall release property from the lien of this Indenture only upon receipt of an Issuing Entity Request accompanied by an Officer’s Certificate of the Issuing Entity, an Opinion of Counsel and
Independent Certificates in accordance with TIA §§ 314(c) and 314(d)(1) or an Opinion of Counsel in lieu of such Independent Certificates to the effect that the TIA does not require any such Independent Certificates, and the Indenture
Trustee shall provide copies of such documents to the Swap Counterparty, if any. 
 Section 2.11 Book-Entry Notes.
Except as provided in Section 2.13, the Notes, upon original issuance, will be issued in the form of typewritten Notes representing the Book-Entry Notes, to be delivered to (or held by the Indenture Trustee on behalf of) The Depository
Trust Company, the initial Clearing Agency, by, or on behalf of, the Issuing Entity. The Book-Entry Notes shall be registered initially on the Note Register in the name of Cede & Co., the nominee of the initial Clearing Agency, and no Note
Owner will receive a definitive Note representing such Note Owner’s interest in such Note, except as provided in Section 2.13. Unless and until definitive, fully registered Notes (the “Definitive Notes”) have been
issued to such Note Owners pursuant to Section 2.13: 
 (i) the provisions of this Section shall
be in full force and effect; 
 (ii) the Note Registrar and the Indenture Trustee shall be entitled to deal with
the Clearing Agency for all purposes of this Indenture (including the payment of principal of and interest on the Notes and the giving of instructions or directions hereunder) as the sole holder of the Notes, and shall have no obligation to the Note
Owners; 
 (iii) to the extent that the provisions of this Section conflict with any other provisions of
this Indenture, the provisions of this Section shall control; 
 (iv) the rights of Note Owners shall be
exercised only through the Clearing Agency and shall be limited to those established by law and agreements between such Note Owners and the Clearing Agency and/or the Clearing Agency Participants pursuant to the Note Depository Agreement. Unless and
until Definitive Notes are issued pursuant to Section 2.13, the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit payments of principal of and interest on the Notes to
such Clearing Agency Participants; and 
 (v) whenever this Indenture requires or permits actions to be taken
based upon instructions or directions of Holders of Notes evidencing a specified percentage of the Outstanding Amount of the Controlling Securities, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has
received instructions to such effect from Note Owners and/or Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the Controlling Securities and has delivered such instructions to
the Indenture Trustee. 

  
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 Section 2.12 Notices to Clearing Agency. Whenever a notice or other
communication to the Noteholders is required under this Indenture, unless and until Definitive Notes shall have been issued to such Note Owners pursuant to Section 2.13, the Indenture Trustee shall give all such notices and
communications specified herein to be given to Holders of the Notes to the Clearing Agency, and shall have no obligation to such Note Owners; provided, that, the Indenture Trustee’s obligation to provide or forward any notice or
other communication to the Noteholders may be met by the Indenture Trustee posting a copy of such information on its internet website described in Section 6.06 promptly following its receipt thereof. 

Section 2.13 Definitive Notes. The Retained Notes, upon original issuance, will be in the form of Definitive Notes, but, at
the request of all of the holders thereof, may be exchanged for Book-Entry Notes. If (i) the Administrator advises the Indenture Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities
with respect to the Book-Entry Notes and the Administrator is unable to locate a qualified successor, (ii) the Administrator at its option advises the Indenture Trustee in writing that it elects to terminate the book-entry system through the
Clearing Agency or (iii) after the occurrence of an Event of Default or a Servicer Default, Owners of the Book-Entry Notes representing beneficial interests aggregating at least 50% of the Outstanding Amount of the Controlling Securities advise
the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interests of such Note Owners, then the Clearing Agency shall notify all Note Owners and the Indenture Trustee of the
occurrence of any such event and of the availability of Definitive Notes to Note Owners requesting the same. Upon surrender to the Indenture Trustee of the typewritten Notes representing the Book-Entry Notes by the Clearing Agency, accompanied by
registration instructions, the Issuing Entity shall execute and the Indenture Trustee shall authenticate the Definitive Notes in accordance with the instructions of the Clearing Agency. None of the Issuing Entity, the Note Registrar or the Indenture
Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Notes, the Indenture Trustee shall recognize the Holders of
the Definitive Notes as Noteholders. 
 Section 2.14 Tax Treatment. The Issuing Entity has entered into this
Indenture, and the Notes will be issued, with the intention that, for all purposes including federal, state and local income and franchise tax purposes, the Notes will qualify as indebtedness secured by the Trust Estate. The Issuing Entity, by
entering into this Indenture, and each Noteholder, by its acceptance of a Note (and each Note Owner by its acceptance of an interest in the applicable Book-Entry Note), agree to treat the Notes (other than Notes held by any entity whose separate
existence from the Issuing Entity is disregarded for federal income tax purposes, but only so long as such Notes are held by such entity) for all purposes including federal, state and local income and franchise tax purposes as indebtedness.

 Section 2.15 CUSIP Numbers. The Issuing Entity in issuing the Notes may use “CUSIP” numbers (if then
generally in use), and, if so, the Indenture Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Noteholders; provided that any such notice may state that no representation is made as to the correctness of
such “CUSIP” numbers either as printed on the Notes or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Notes and any such redemption shall not be affected
by any defect in or omission of such numbers. The Depositor will promptly notify the Indenture Trustee in writing of any change in the “CUSIP” numbers. 

  
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 ARTICLE III 
 COVENANTS 
 Section 3.01 Payment of Principal and Interest. The
Issuing Entity will duly and punctually pay the principal of and interest, if any, on the Notes in accordance with the terms of the Notes and this Indenture. Without limiting the foregoing, subject to and in accordance with
Section 8.02(c), the Issuing Entity will cause to be distributed all amounts on deposit in the Note Distribution Account and allocated for distribution to the Noteholders on a Payment Date pursuant to the Sale and Servicing Agreement
(i) for the benefit of the Class A-1 Notes, to the Class A-1 Noteholders, (ii) for the benefit of the Class A-2 Notes, to the Class A-2 Noteholders, (iii) for the benefit of the Class A-3 Notes, to the
Class A-3 Noteholders, (iv) for the benefit of the Class A-4 Notes, to the Class A-4 Noteholders and (v) for the benefit of the Class B Notes, to the Class B Noteholders. Amounts properly withheld under the Code by any
Person from a payment to any Noteholder of interest and/or principal shall be considered as having been paid by the Issuing Entity to such Noteholder for all purposes of this Indenture. 

Section 3.02 Maintenance of Office or Agency. The Issuing Entity will maintain in the Borough of Manhattan, The City of
New York, an office or agency where Notes may be surrendered for registration of transfer or exchange, and where notices and demands to or upon the Issuing Entity in respect of the Notes and this Indenture may be served. Such office or agency
will initially be at the Corporate Trust Office of the Indenture Trustee, and the Issuing Entity hereby initially appoints the Indenture Trustee to serve as its agent for the foregoing purposes. The Issuing Entity will give prompt written notice to
the Indenture Trustee of any change in the location of any such office or agency. If at any time the Issuing Entity shall fail to maintain any such office or agency or shall fail to furnish the Indenture Trustee with the address thereof, such
surrenders, notices and demands may be made or served at the Corporate Trust Office, and the Issuing Entity hereby appoints the Indenture Trustee as its agent to receive all such surrenders, notices and demands. 

Section 3.03 Money for Payments to Be Held in Trust. As provided in Section 8.02(a) and (b), all payments
of amounts due and payable with respect to any Notes that are to be made from amounts withdrawn from the Collection Account and the Note Distribution Account pursuant to Section 8.02(c), (d), (e) and
(g) shall be made on behalf of the Issuing Entity by the Indenture Trustee or by another Paying Agent, and no amounts so withdrawn from the Collection Account and the Note Distribution Account for payments of Notes shall be paid over to
the Issuing Entity except as provided in this Section. 
 On or before the Payment Determination Date or the Business Day prior
to the Redemption Date, as applicable, the Issuing Entity shall allocate or cause to be allocated in the Note Distribution Account for distribution to the Noteholders an aggregate sum sufficient to pay the amounts then becoming due under the Notes,
such sum to be held in trust for the benefit of the Persons entitled thereto, and (unless the Paying Agent is the Indenture Trustee) shall promptly notify the Indenture Trustee of its action or failure so to act. 

  
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 The Issuing Entity will cause each Paying Agent other than the Indenture Trustee to execute
and deliver to the Indenture Trustee an instrument in which such Paying Agent shall agree with the Indenture Trustee (and if the Indenture Trustee acts as Paying Agent, it hereby so agrees), subject to the provisions of this Section, that such
Paying Agent will: 
 (i) hold all sums held by it for the payment of amounts due with respect to the Notes in
trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided and pay such sums to such Persons as herein provided; 

(ii) give the Indenture Trustee notice of any default by the Issuing Entity (or any other obligor upon the Notes) of which
it has actual knowledge in the making of any payment required to be made with respect to the Notes; 
 (iii) at
any time during the continuance of any such default, upon the written request of the Indenture Trustee, forthwith pay to the Indenture Trustee all sums so held in trust by such Paying Agent; 

(iv) immediately resign as a Paying Agent and forthwith pay to the Indenture Trustee all sums held by it in trust for the
payment of Notes if at any time it ceases to meet the standards required to be met by a Paying Agent at the time of its appointment; and 
 (v) comply with all requirements of the Code with respect to the withholding from any payments made by it on any Notes of any applicable withholding taxes imposed thereon and with respect to any
applicable reporting requirements in connection therewith. 
 The Issuing Entity may at any time, for the purpose of obtaining
the satisfaction and discharge of this Indenture or for any other purpose, by Issuing Entity Order direct any Paying Agent to pay to the Indenture Trustee all sums held in trust by such Paying Agent, such sums to be held by the Indenture Trustee
upon the same trusts as those upon which the sums were held by such Paying Agent; and upon such payment by any Paying Agent to the Indenture Trustee, such Paying Agent shall be released from all further liability with respect to such money.

 Subject to applicable laws with respect to escheat of funds, any money held by the Indenture Trustee or any Paying Agent in
trust for the payment of any amount due with respect to any Note and remaining unclaimed for two years after such amount has become due and payable shall be discharged from such trust and be paid to the Issuing Entity on Issuing Entity Request; and
the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Issuing Entity for payment thereof (but only to the extent of the amounts so paid to the Issuing Entity), and all liability of the Indenture Trustee or such
Paying Agent with respect to such trust money shall thereupon cease; provided, however, that the Indenture Trustee or such Paying Agent, before being required to make any such repayment, shall at the expense and direction of the
Issuing Entity cause to be published once, in a newspaper published in the 

  
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English language, customarily published on each Business Day and of general circulation in the City of New York, notice that such money remains unclaimed and that, after a date specified
therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Issuing Entity. The Indenture Trustee shall also adopt and employ, at the expense and direction
of the Issuing Entity, any other reasonable means of notification of such repayment (including, but not limited to, mailing notice of such repayment to Holders whose Notes have been called but have not been surrendered for redemption or whose right
to or interest in monies due and payable but not claimed is determinable from the records of the Indenture Trustee or of any Paying Agent, at the last address of record for each such Holder). 

Section 3.04 Existence. The Issuing Entity will keep in full effect its existence, rights and franchises as a statutory trust
under the laws of the State of Delaware (unless it becomes, or any successor Issuing Entity hereunder is or becomes, organized under the laws of any other State or of the United States of America, in which case the Issuing Entity will keep in full
effect its existence, rights and franchises under the laws of such other jurisdiction) and will obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or shall be necessary to protect the validity
and enforceability of this Indenture, the Notes, the Collateral and each other instrument or agreement included in the Trust Estate. 
 Section 3.05 Protection of Trust Estate. The Issuing Entity will from time to time execute and deliver all such supplements and amendments hereto and all such financing statements,
continuation statements, instruments of further assurance and other instruments, and also deliver the Schedule of Receivables and the Sale and Servicing Agreement (including Schedule A thereto, as revised from time to time) to the Indenture
Trustee, and will take such other action necessary or advisable to: 
 (i) maintain or preserve the lien and
security interest (and the priority thereof) of this Indenture or carry out more effectively the purposes hereof; 
 (ii) perfect, publish notice of or protect the validity of any Grant made or to be made by this Indenture; 
 (iii) enforce any of the Collateral; or 
 (iv) preserve and defend
title to the Trust Estate and the rights of the Indenture Trustee and the Noteholders in such Trust Estate against the claims of all persons and parties. 
 The Issuing Entity hereby designates the Indenture Trustee its agent and attorney-in-fact to execute any financing statement, continuation statement or other instrument required to be executed pursuant to
this Section 3.05. The Issuing Entity hereby authorizes the filing of such financing statements and ratifies any such financing statements filed prior to the date hereof; it being understood that such authorization shall not be deemed to
be an obligation on the part of the Indenture Trustee to make any such filing. 

  
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 Section 3.06 Opinions as to Trust Estate. 

(a) On the Closing Date, the Issuing Entity shall furnish to the Indenture Trustee an Opinion of Counsel either stating that, in the
opinion of such counsel, such action has been taken with respect to the recording and filing of this Indenture, any indentures supplemental hereto, and any other requisite documents, and with respect to the execution and filing of any financing
statements and continuation statements, as are necessary to perfect and make effective the lien and security interest of this Indenture and reciting the details of such action, or stating that, in the opinion of such counsel, no such action is
necessary to make such lien and security interest effective. 
 (b) On or before April 30, in each calendar year, beginning
in 2014, the Issuing Entity shall furnish to the Indenture Trustee an Opinion of Counsel either stating that, in the opinion of such counsel, such action has been taken with respect to the recording, filing, re-recording and refiling of this
Indenture, any indentures supplemental hereto and any other requisite documents and with respect to the execution and filing of any financing statements and continuation statements as is necessary to maintain the lien and security interest created
by this Indenture and reciting the details of such action, or stating that in the opinion of such counsel no such action is necessary to maintain such lien and security interest. Such Opinion of Counsel shall also describe the recording, filing,
re-recording and refiling of this Indenture, any indentures supplemental hereto and any other requisite documents and the execution and filing of any financing statements and continuation statements that will, in the opinion of such counsel, be
required to maintain the lien and security interest of this Indenture until April 30 in the following calendar year. 

Section 3.07 Performance of Obligations; Servicing of Receivables. 

(a) The Issuing Entity will not take any action and will use its best efforts not to permit any action to be taken by others that would
release any Person from any of such Person’s material covenants or obligations under any instrument or agreement included in the Trust Estate or that would result in the amendment, hypothecation, subordination, termination or discharge of, or
impair the validity or effectiveness of, any such instrument or agreement, except as expressly provided in this Indenture, the Sale and Servicing Agreement or such other instrument or agreement. 

(b) The Issuing Entity may contract with other Persons to assist it in performing its duties under this Indenture, and any performance of
such duties by a Person identified to the Indenture Trustee in an Officer’s Certificate of the Issuing Entity shall be deemed to be action taken by the Issuing Entity. Initially, the Issuing Entity has contracted with the Servicer and the
Administrator to assist the Issuing Entity in performing its duties under this Indenture. 
 (c) The Issuing Entity will
punctually perform and observe all of its obligations and agreements contained in this Indenture, the Basic Documents and in the instruments and agreements included in the Trust Estate, including but not limited to filing or causing to be filed all
UCC financing statements and continuation statements required to be filed by the terms of this Indenture and the Sale and Servicing Agreement in accordance with and 

  
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within the time periods provided for herein and therein. Except as otherwise expressly provided therein, the Issuing Entity shall not waive, amend, modify, supplement or terminate any Basic
Document or any provision thereof without the consent of the Indenture Trustee or the Holders of at least 50% of the Outstanding Amount of the Controlling Securities. 
 (d) If the Issuing Entity shall have knowledge of the occurrence of a Servicer Default under the Sale and Servicing Agreement, the Issuing Entity shall promptly notify the Indenture Trustee and the Rating
Agencies thereof, and shall specify in such notice the action, if any, the Issuing Entity is taking with respect to such default. If a Servicer Default shall arise from the failure of the Servicer to perform any of its duties or obligations under
the Sale and Servicing Agreement with respect to the Receivables, the Issuing Entity shall take all reasonable steps available to it to remedy such failure. 
 (e) As promptly as possible after the giving of notice of termination to the Servicer of the Servicer’s rights and powers pursuant to Section 8.01 of the Sale and Servicing Agreement, the
Indenture Trustee shall appoint a successor servicer (the “Successor Servicer”), and such Successor Servicer shall accept its appointment by a written assumption in a form acceptable to the Indenture Trustee. In the event that a
Successor Servicer has not been appointed and accepted its appointment at the time when the Servicer ceases to act as Servicer, the Indenture Trustee without further action shall automatically be appointed the Successor Servicer. The Indenture
Trustee may resign as the Servicer by giving written notice of such resignation to the Issuing Entity and the Depositor and in such event will be released from such duties and obligations, such release not to be effective until the date a new
servicer enters into a servicing agreement with the Issuing Entity as provided below. Upon delivery of any such notice to the Issuing Entity, the Indenture Trustee shall obtain a new servicer as the Successor Servicer under the Sale and Servicing
Agreement. Any Successor Servicer other than the Indenture Trustee shall (i) be an established financial institution having a net worth of not less than $100,000,000 and whose regular business includes the servicing of Contracts and
(ii) enter into a servicing agreement with the Issuing Entity having substantially the same provisions as the provisions of the Sale and Servicing Agreement applicable to the Servicer. If within 30 days after the delivery of the notice referred
to above, the Issuing Entity shall not have obtained such a new servicer, the Indenture Trustee may appoint, or may petition a court of competent jurisdiction to appoint, a Successor Servicer. In connection with any such appointment, the Indenture
Trustee may make such arrangements for the compensation of such successor as it and such successor shall agree, subject to the limitations set forth below and in the Sale and Servicing Agreement, and in accordance with Section 8.02 of
the Sale and Servicing Agreement, the Issuing Entity shall enter into an agreement with such successor for the servicing of the Receivables (such agreement to be in form and substance satisfactory to the Indenture Trustee). Notwithstanding anything
herein or in the Sale and Servicing Agreement to the contrary, in no event shall the Indenture Trustee be liable for any Servicing Fee or for any differential in the amount of the Servicing Fee paid hereunder and the amount necessary to induce any
Successor Servicer to act as Successor Servicer under the Basic Documents and the transactions set forth or provided for therein. If the Indenture Trustee shall succeed to the Servicer’s duties as servicer of the Receivables as provided herein,
it shall do so in its individual capacity and not in its capacity as Indenture Trustee and, accordingly, the provisions of Article VI hereof shall be inapplicable to the Indenture Trustee in its duties as the successor to the Servicer
and the servicing of the Receivables. In case the Indenture Trustee shall become successor to the Servicer under the Sale and Servicing Agreement, the Indenture Trustee shall be entitled to appoint as Servicer any one of its affiliates, provided
that it shall be fully liable for the actions and omissions of such affiliate in such capacity as Successor Servicer. 

  
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 (f) Upon any termination of the Servicer’s rights and powers pursuant to the Sale and
Servicing Agreement, the Issuing Entity shall promptly notify the Indenture Trustee. As soon as a Successor Servicer is appointed, the Indenture Trustee shall notify the Issuing Entity of such appointment, specifying in such notice the name and
address of such Successor Servicer. 
 (g) Without derogating from the absolute nature of the assignment granted to the
Indenture Trustee under this Indenture or the rights of the Indenture Trustee hereunder, the Issuing Entity agrees (i) that it will not, without the prior written consent of the Indenture Trustee or the Holders of at least 50% of the
Outstanding Amount of the Controlling Securities and, if such action would result in a material adverse effect on, the Swap Counterparty, if any, amend, modify, waive, supplement, terminate or surrender, or agree to any amendment, modification,
supplement, termination, waiver or surrender of, the terms of any Collateral (except to the extent otherwise provided in the Sale and Servicing Agreement) or the Trust Agreement, the Sale and Servicing Agreement, the Receivables Purchase Agreement,
the Administration Agreement, the Interest Rate Swaps, if any, or the Swap Counterparty Rights Agreement, if any (except as may be permitted thereby), or waive timely performance or observance by the Servicer or the Depositor under the Sale and
Servicing Agreement (except as may be permitted thereby); and (ii) that any such amendment shall not (A) increase or reduce in any manner the amount of, or accelerate or delay the timing of, distributions that are required to be made for
the benefit of the Noteholders or (B) reduce the aforesaid percentage of the Controlling Securities that is required to consent to any such amendment, without the consent of the Holders of all the Outstanding Notes. If any such amendment,
modification, supplement or waiver shall be so consented to by the Indenture Trustee or such Holders, the Issuing Entity agrees, promptly following a request by the Indenture Trustee to do so, to execute and deliver, in its own name and at its own
expense, such agreements, instruments, consents and other documents as the Indenture Trustee may deem necessary or appropriate in the circumstances. 
 Section 3.08 Negative Covenants. So long as any Notes are Outstanding, the Issuing Entity shall not: 
 (i) except as expressly permitted by this Indenture, the Receivables Purchase Agreement or the Sale and Servicing Agreement, (A) dissolve or liquidate in whole or in part or (B) sell, transfer,
exchange or otherwise dispose of any of the properties or assets of the Issuing Entity, including those included in the Trust Estate, in either case, unless directed to do so by the Indenture Trustee; 

(ii) claim any credit on, or make any deduction from the principal or interest payable in respect of, the Notes (other
than amounts properly withheld from such payments under the Code or applicable state law) or assert any claim against any present or former Noteholder by reason of the payment of the taxes levied or assessed upon any part of the Trust Estate; or

  
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 (iii) (A) permit the validity or effectiveness of this Indenture to be
impaired, or permit the lien of this Indenture to be amended, hypothecated, subordinated, terminated or discharged, or permit any Person to be released from any covenants or obligations with respect to the Notes under this Indenture except as may be
expressly permitted hereby, (B) permit any lien, charge, excise, claim, security interest, mortgage or other encumbrance (other than the lien of this Indenture) to be created on or extend to or otherwise arise upon or burden the Trust Estate or
any part thereof or any interest therein or the proceeds thereof (other than tax liens, mechanics’ liens and other liens that arise by operation of law, in each case on any of the Financed Vehicles and arising solely as a result of an action or
omission of the related Obligor) or (C) permit the lien of this Indenture not to constitute a valid first priority (other than with respect to any such tax, mechanics’ or other lien) security interest in the Trust Estate. 

Section 3.09 Annual Statement as to Compliance. The Issuing Entity will deliver to the Indenture Trustee, with a copy to the
Swap Counterparty, if any, within 120 days after the end of each fiscal year of the Issuing Entity (commencing with the fiscal year 2013), an Officer’s Certificate stating, as to the Authorized Officer signing such Officer’s Certificate,
that: 
 (i) a review of the activities of the Issuing Entity during such year and of its performance under this
Indenture has been made under such Authorized Officer’s supervision; and 
 (ii) to the best of such
Authorized Officer’s knowledge, based on such review, the Issuing Entity has complied in all material respects with all conditions and covenants under this Indenture throughout such year or, if there has been a material default in its
compliance with any such condition or covenant, specifying each such default known to such Authorized Officer and the nature and status thereof. 
 Section 3.10 Issuing Entity May Consolidate, etc., Only on Certain Terms. 
 (a) The Issuing Entity shall not consolidate or merge with or into any other Person, unless: 
 (i) the Person (if other than the Issuing Entity) formed by or surviving such consolidation or merger shall be a Person organized and existing under the laws of the United States of America or any State
and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Indenture Trustee, in form satisfactory to the Indenture Trustee, the due and punctual payment of the principal of and interest on all Notes and the
performance or observance of every agreement and covenant of this Indenture and the other Basic Documents on the part of the Issuing Entity to be performed or observed, all as provided herein; 

(ii) immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be
continuing; 

  
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 (iii) the Rating Agency Condition shall have been satisfied with respect to
such transaction; 
 (iv) the Issuing Entity shall have received an Opinion of Counsel (and shall have delivered
copies thereof to the Indenture Trustee) to the effect that such transaction will not have any material adverse tax consequence to the Issuing Entity, any Noteholder or any Certificateholder; 

(v) any action that is necessary to maintain the lien and security interest created by this Indenture shall have been
taken; and 
 (vi) the Issuing Entity shall have delivered to the Indenture Trustee an Officer’s Certificate
and an Opinion of Counsel each stating that such consolidation or merger and such supplemental indenture comply with this Article III and that all conditions precedent herein provided for relating to such transaction have been complied
with (including any filing required by the Exchange Act). 
 (b) The Issuing Entity shall not convey or transfer any of its
properties or assets, including those included in the Trust Estate, to any Person, unless: 
 (i) the Person that
acquires by conveyance or transfer the properties and assets of the Issuing Entity the conveyance or transfer of which is hereby restricted (A) shall be a United States citizen or a Person organized and existing under the laws of the United
States of America or any State, (B) expressly assumes, by an indenture supplemental hereto, executed and delivered to the Indenture Trustee, in form satisfactory to the Indenture Trustee, the due and punctual payment of the principal of and
interest on all Notes and the performance or observance of every agreement and covenant of this Indenture on the part of the Issuing Entity to be performed or observed, all as provided herein, (C) expressly agrees by means of such supplemental
indenture that all right, title and interest so conveyed or transferred shall be subject and subordinate to the rights of Holders of the Notes, (D) unless otherwise provided in such supplemental indenture, expressly agrees to indemnify, defend
and hold harmless the Issuing Entity against and from any loss, liability or expense arising under or related to this Indenture and the Notes and (E) expressly agrees by means of such supplemental indenture that such Person (or if a group of
Persons, then one specified Person) shall make all filings with the Commission (and any other appropriate Person) required by the Exchange Act in connection with the Notes; 

(ii) immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be
continuing; 
 (iii) the Rating Agency Condition shall have been satisfied with respect to such transaction;

 (iv) the Issuing Entity shall have received an Opinion of Counsel (and shall have delivered copies thereof to
the Indenture Trustee) to the effect that such transaction will not have any material adverse federal income tax consequence to the Issuing Entity, any Noteholder or any Certificateholder; 

  
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 (v) any action that is necessary to maintain the lien and security interest
created by this Indenture shall have been taken; and 
 (vi) the Issuing Entity shall have delivered to the
Indenture Trustee an Officer’s Certificate and an Opinion of Counsel each stating that such conveyance or transfer and such supplemental indenture comply with this Article III and that all conditions precedent herein provided for
relating to such transaction have been complied with (including any filing required by the Exchange Act). 
 Section 3.11
Successor or Transferee. 
 (a) Upon any consolidation or merger of the Issuing Entity in accordance with
Section 3.10(a), the Person formed by or surviving such consolidation or merger (if other than the Issuing Entity) shall succeed to, and be substituted for, and may exercise every right and power of, the Issuing Entity under this
Indenture with the same effect as if such Person had been named as the Issuing Entity herein. 
 (b) Upon a conveyance or
transfer of all the assets and properties of the Issuing Entity pursuant to Section 3.10(b), World Omni Auto Receivables Trust 2013-A will be released from every covenant and agreement of this Indenture to be observed or performed on the
part of the Issuing Entity with respect to the Notes immediately upon the delivery of written notice to the Indenture Trustee stating that World Omni Auto Receivables Trust 2013-A is to be so released. 

Section 3.12 No Other Business. The Issuing Entity shall not engage in any business other than financing, purchasing, owning,
selling and managing the Receivables in the manner contemplated by this Indenture and the Basic Documents and activities incidental thereto. After the end of the Funding Period or, if there is no Funding Period, after the Closing Date, the Issuing
Entity shall not fund the purchase of any new Contracts. 
 Section 3.13 No Borrowing. The Issuing Entity shall not
issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any indebtedness. 
 Section 3.14
Servicer’s Obligations. The Issuing Entity shall use all reasonable efforts to cause the Servicer to comply with Sections 4.09, 4.10, 4.11 and 5.07(b) and Article IX of the Sale and Servicing
Agreement. 
 Section 3.15 Guarantees, Loans, Advances and Other Liabilities. Except as contemplated by the Sale and
Servicing Agreement or this Indenture, the Issuing Entity shall not make any loan or advance or credit to, or guarantee (directly or indirectly or by an instrument having the effect of assuring another’s payment or performance on any obligation
or capability of so doing or otherwise), endorse or otherwise become contingently liable, directly or indirectly, in connection with the obligations, stocks or dividends of, or own, purchase, repurchase or acquire (or agree contingently to do so)
any stock, obligations, assets or securities of, or any other interest in, or make any capital contribution to, any other Person. 

  
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 Section 3.16 Capital Expenditures. The Issuing Entity shall not make any
expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty). 

Section 3.17 Removal of Administrator. So long as any Notes are Outstanding, the Issuing Entity shall not remove the
Administrator without cause unless the Rating Agency Condition shall have been satisfied in connection with such removal. 

Section 3.18 Restricted Payments. The Issuing Entity shall not, directly or indirectly, (i) pay any dividend or make any
distribution (by reduction of capital or otherwise), whether in cash, property, securities or a combination thereof, to the Owner Trustee or any owner of a beneficial interest in the Issuing Entity or otherwise with respect to any ownership or
equity interest or security in or of the Issuing Entity or to the Servicer (except as provided in the Basic Documents), (ii) redeem, purchase, retire or otherwise acquire for value any such ownership or equity interest or security or
(iii) set aside or otherwise segregate any amounts for any such purpose; provided, however, that the Issuing Entity may make, or cause to be made, (x) distributions as contemplated by, and to the extent funds are available
for such purpose under, the Sale and Servicing Agreement or the Trust Agreement and (y) payments to the Indenture Trustee pursuant to Section 1.01(a)(ii) of the Administration Agreement. The Issuing Entity will not, directly or
indirectly, make payments to or distributions from the Collection Account except in accordance with this Indenture and the Basic Documents. 
 Section 3.19 Notice of Events of Default. The Issuing Entity shall give the Indenture Trustee and the Rating Agencies prompt written notice of each Event of Default hereunder and each Servicer
Default. 
 Section 3.20 Further Instruments and Acts. Upon request of the Indenture Trustee or as necessary, the
Issuing Entity will execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 

ARTICLE IV 

SATISFACTION AND DISCHARGE 
 Section 4.01 Satisfaction and Discharge of Indenture. This Indenture shall cease to be of further effect with respect to the Notes except as to (i) rights of registration of transfer and
exchange, (ii) substitution of mutilated, destroyed, lost or stolen Notes, (iii) rights of Noteholders to receive payments of principal thereof and interest thereon, (iv) Sections 3.03, 3.04, 3.05, 3.08,
3.10, 3.12 and 3.13, (v) the rights, obligations and immunities of the Indenture Trustee hereunder (including the rights of the Indenture Trustee under Section 6.07 and the obligations of the Indenture Trustee
under Section 4.02) and (vi) the rights of Noteholders as beneficiaries hereof with respect to the property so deposited with the Indenture Trustee payable to all or any of them, and the Indenture Trustee, on demand of and at the
expense of the Issuing Entity, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture with respect to the Notes, when: 

  
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 (A) either: 

(1) all Notes theretofore authenticated and delivered (other than (i) Notes that have been destroyed, lost or stolen
and that have been replaced or paid as provided in Section 2.06 and (ii) Notes for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuing Entity and thereafter repaid to the
Issuing Entity or discharged from such trust, as provided in Section 3.03) have been delivered to the Indenture Trustee for cancellation; or 
 (2) all Notes not theretofore delivered to the Indenture Trustee for cancellation: 
 (I) have become due and payable, or 
 (II) are to be called for
redemption within one year under arrangements satisfactory to the Indenture Trustee for the giving of notice of redemption by the Indenture Trustee in the name, and at the expense, of the Issuing Entity, 

and the Issuing Entity, in the case of (I) or (II) above, has irrevocably deposited or caused to be irrevocably
deposited with the Indenture Trustee cash or direct obligations of or obligations guaranteed by the United States of America (which will mature prior to the date such amounts are payable), in trust for such purpose, in an amount sufficient to pay
and discharge the entire indebtedness on such Notes not theretofore delivered to the Indenture Trustee for cancellation when due to the applicable Final Scheduled Payment Date or Redemption Date (if Notes shall have been called for redemption
pursuant to Section 10.01), as the case may be; 
 (B) the Issuing Entity has paid or caused to be
paid all other sums payable by the Issuing Entity hereunder or under the Interest Rate Swaps, if any; and 
 (C)
the Issuing Entity has delivered to the Indenture Trustee an Officer’s Certificate, an Opinion of Counsel and (if required by the TIA or the Indenture Trustee) an Independent Certificate from a firm of certified public accountants, each meeting
the applicable requirements of Section 11.01(a) and, subject to Section 11.02, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied
with. 
 Section 4.02 Application of Trust Money. All monies deposited with the Indenture Trustee pursuant to
Section 4.01 hereof shall be held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent, as the Indenture Trustee may determine,
(i) to the Holders of the 

  
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particular Notes for the payment or redemption of which such monies have been deposited with the Indenture Trustee, of all sums due and to become due thereon for principal and interest and
(ii) to the Swap Counterparty, of all sums due or to become due to the Swap Counterparty under and in accordance with the Interest Rate Swaps, if any; but such monies need not be segregated from other funds except to the extent required herein
or in the Sale and Servicing Agreement or required by law. 
 Section 4.03 Repayment of Monies Held by Paying Agent.
In connection with the satisfaction and discharge of this Indenture with respect to the Notes, all monies then held by any Paying Agent other than the Indenture Trustee under the provisions of this Indenture with respect to such Notes shall, upon
demand of the Issuing Entity, be paid to the Indenture Trustee to be held and applied according to Section 3.03 and thereupon such Paying Agent shall be released from all further liability with respect to such monies. 

ARTICLE V 

REMEDIES 

Section 5.01 Events of Default. 
 (a) “Event of Default,” wherever used herein, means any one of the following events (whatever the reason for such Event of Default and, subject to Sections 5.01(iv) and
(v) whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 

(i) default in the payment of any interest on any Note when the same becomes due and payable, and such default shall
continue for a period of five Business Days; provided, however, that until the Outstanding Amount of the Class A Notes is reduced to zero, a default in the payment of any interest on any Class B Note shall not by itself constitute
an Event of Default hereunder; 
 (ii) default in the payment of the principal of or any installment of the
principal of any Note when the same becomes due and payable (A) in accordance with Sections 3.01 and 8.02(c) to the extent funds are available therefor and (B) on the related Final Scheduled Payment Date; or 

(iii) material default in the observance or performance of any covenant or agreement of the Issuing Entity made in this
Indenture (other than a covenant or agreement, a default in the observance or performance of which is elsewhere in this Section specifically dealt with), or any representation or warranty of the Issuing Entity made in this Indenture or in any
certificate or other writing delivered pursuant hereto or in connection herewith proving to have been incorrect in any material respect as of the time when the same shall have been made, and such default shall continue or not be cured, or the
circumstance or condition in respect of which such misrepresentation or warranty was incorrect shall not have been eliminated or otherwise cured, for a period of 60 days after 

  
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there shall have been given, by registered or certified mail, to the Issuing Entity by the Indenture Trustee or to the Issuing Entity and the Indenture Trustee by the Holders of at least 25% of
the Outstanding Amount of the Controlling Securities, a written notice specifying such default or incorrect representation or warranty and requiring it to be remedied and stating that such notice is a notice of Default hereunder; or 

(iv) the filing of a decree or order for relief by a court having jurisdiction in the premises in respect of the Issuing
Entity or any substantial part of the Trust Estate in an involuntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian,
trustee, sequestrator or similar official of the Issuing Entity or for any substantial part of the Trust Estate, or ordering the winding-up or liquidation of the Issuing Entity’s affairs, and such decree or order shall remain unstayed and in
effect for a period of 60 consecutive days; or 
 (v) the commencement by the Issuing Entity of a voluntary case
under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by the Issuing Entity to the entry of an order for relief in an involuntary case under any such law, or the consent by the
Issuing Entity to the appointment or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Issuing Entity or for any substantial part of the Trust Estate, or the making by the Issuing
Entity of any general assignment for the benefit of creditors, or the failure by the Issuing Entity generally to pay its debts as such debts become due, or the taking of any action by the Issuing Entity in furtherance of any of the foregoing.

 (b) The Issuing Entity shall deliver to the Indenture Trustee, within five days after the occurrence thereof, written notice
in the form of an Officer’s Certificate of any event which with the giving of notice and the lapse of time would become an Event of Default under clause (a)(iii), its status and what action the Issuing Entity is taking or proposes
to take with respect thereto. 
 (c) Notwithstanding the foregoing, a delay in or failure of performance referred to under
clauses (a)(i) and (ii) above for a period of ten Business Days or referred to under clause (a)(iii) for a period of 90 Business Days, shall not constitute an Event of Default if such delay or failure could not be prevented
by the exercise of reasonable diligence by the Issuing Entity or the Indenture Trustee, as applicable, and was caused by an act of God or other similar occurrence. Upon the occurrence of any such event, each of the Issuing Entity and the Indenture
Trustee, as applicable, shall not be relieved from using its best efforts to perform its obligations in a timely manner in accordance with the terms of this Indenture and the Issuing Entity or the Indenture Trustee, as applicable, shall provide the
Indenture Trustee (if such delay or failure is a result of a delay or failure by the Issuing Entity), the Owner Trustee, the Noteholders and the Certificateholders prompt notice of such failure or delay by it, together with a description of its
efforts to so perform its obligations. 

  
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 Section 5.02 Acceleration of Maturity; Rescission and Annulment. If an Event of
Default should occur and be continuing, then and in every such case the Indenture Trustee or the Holders of Notes representing not less than 50% of the Outstanding Amount of the Controlling Securities may declare all the Notes to be immediately due
and payable, by a notice in writing to the Issuing Entity (and to the Indenture Trustee if given by Noteholders) and the Indenture Trustee shall give prompt written notice thereof to the Swap Counterparty, if any, and upon any such declaration the
unpaid principal amount of such Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. 
 At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this
Article V provided, the Holders of Notes representing 50% of the Outstanding Amount of the Controlling Securities, by written notice to the Issuing Entity and the Indenture Trustee, may rescind and annul such declaration and its
consequences if: 
 (i) the Issuing Entity has paid or deposited with the Indenture Trustee a sum sufficient to
pay: 
 (A) all payments of principal of and interest on all Notes and all other amounts that would then be due
hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and 

(B) all sums paid or advanced by the Indenture Trustee hereunder and the reasonable compensation, expenses, disbursements
and advances of the Indenture Trustee and its agents and counsel; and 
   (ii) all Events of Default,
other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. 
 No such rescission shall affect any subsequent default or impair any right consequent thereto. 
 Section 5.03 Collection of Indebtedness and Suits for Enforcement by Indenture Trustee. 
 (a) The Issuing Entity covenants that if (i) an Event of Default specified in Section 5.01(i) has occurred and is continuing or (ii) an Event of Default specified in
Section 5.01(ii) has occurred and is continuing, the Issuing Entity will, upon demand of the Indenture Trustee, pay to it, for the benefit of the Holders of the Notes, the whole amount then due and payable on such Notes for principal and
interest, with interest on the overdue principal and, to the extent payment at such rate of interest shall be legally enforceable, on overdue installments of interest at the rate borne by the Notes and, in addition thereto, such further amount as
shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and its agents and counsel. 

  
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 (b) In case the Issuing Entity shall fail forthwith to pay such amounts upon such demand,
the Indenture Trustee, in its own name and as trustee of an express trust, may institute a Proceeding for the collection of the sums so due and unpaid, and may prosecute such Proceeding to judgment or final decree, and may enforce the same against
the Issuing Entity or other obligor upon such Notes and collect in the manner provided by law out of the property of the Issuing Entity or other obligor upon such Notes, wherever situated, the monies adjudged or decreed to be payable. 

(c) If an Event of Default occurs and is continuing, the Indenture Trustee may, as more particularly provided in Section 5.04,
proceed to protect and enforce its rights and the rights of the Noteholders, by such appropriate Proceedings as the Indenture Trustee shall deem most effective to protect and enforce any such rights, whether for the specific enforcement of any
covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy or legal or equitable right vested in the Indenture Trustee by this Indenture or by law. 

(d) In case there shall be pending, relative to the Issuing Entity or any other obligor upon the Notes or any Person having or claiming an
ownership interest in the Trust Estate, Proceedings under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or
reorganization, or liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuing Entity or its property or such other obligor or Person, or in case of any other comparable judicial Proceedings relative
to the Issuing Entity or other obligor upon the Notes, or to the creditors or property of the Issuing Entity or such other obligor, the Indenture Trustee, irrespective of whether the principal of any Notes shall then be due and payable as therein
expressed or by declaration or otherwise and irrespective of whether the Indenture Trustee shall have made any demand pursuant to the provisions of this Section, shall be entitled and empowered, by intervention in such Proceedings or otherwise:

 (i) to file and prove a claim or claims for the whole amount of principal and interest owing and unpaid in
respect of the Notes and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Indenture Trustee (including any claim for reasonable compensation to the Indenture Trustee and each predecessor
Indenture Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Indenture Trustee and each predecessor Indenture Trustee, except as a result of
negligence or bad faith) and of the Noteholders allowed in such Proceedings; 
 (ii) unless prohibited by
applicable law and regulations, to vote on behalf of the Holders of Notes in any election of a trustee, a standby trustee or Person performing similar functions in any such Proceedings; 

  
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 (iii) to collect and receive any monies or other property payable or
deliverable on any such claims and to distribute all amounts received with respect to the claims of the Noteholders and of the Indenture Trustee on their behalf; and 

(iv) to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the
claims of the Indenture Trustee or the Holders of Notes allowed in any Proceedings relative to the Issuing Entity, its creditors and its property; 
 and any trustee, receiver, liquidator, custodian or other similar official in any such Proceeding is hereby authorized by each of such Noteholders to make payments to the Indenture Trustee and, in the
event that the Indenture Trustee shall consent to the making of payments directly to such Noteholders, to pay to the Indenture Trustee such amounts as shall be sufficient to cover reasonable compensation to the Indenture Trustee, each predecessor
Indenture Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Indenture Trustee and each predecessor Indenture Trustee except as a result of negligence or bad
faith. 
 (e) Nothing herein contained shall be deemed to authorize the Indenture Trustee to authorize or consent to or vote for
or accept or adopt on behalf of any Noteholder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof or to authorize the Indenture Trustee to vote in respect of the claim of any
Noteholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. 

(f) All rights of action and of asserting claims under this Indenture, or under any of the Notes, may be enforced by the Indenture
Trustee without the possession of any of the Notes or the production thereof in any trial or other Proceedings relative thereto, and any such action or Proceedings instituted by the Indenture Trustee shall be brought in its own name as trustee of an
express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Indenture Trustee, each predecessor Indenture Trustee and their respective agents and attorneys, shall be for the ratable
benefit of the Holders of the Notes. 
 (g) In any Proceedings brought by the Indenture Trustee (and also any Proceedings
involving the interpretation of any provision of this Indenture to which the Indenture Trustee shall be a party), the Indenture Trustee shall be held to represent all the Holders of the Notes, and it shall not be necessary to make any Noteholder a
party to any such Proceedings. 
 Section 5.04 Remedies; Priorities. 

(a) If an Event of Default shall have occurred and be continuing, the Indenture Trustee may, or at the direction of the holders of at
least 50% of the Controlling Securities shall, do one or more of the following (subject to Section 5.05): 
 (i) institute Proceedings in its own name and as trustee of an express trust for the collection of all amounts then payable on the Notes or under this Indenture with respect thereto, whether by
declaration or otherwise, enforce any judgment obtained and collect from the Issuing Entity and any other obligor upon such Notes monies adjudged due; 

  
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 (ii) institute Proceedings from time to time for the complete or partial
foreclosure of this Indenture with respect to the Trust Estate; 
 (iii) exercise any remedies of a secured party
under the UCC and take any other appropriate action to protect and enforce the rights and remedies of the Indenture Trustee and the Holders of the Notes; and 
 (iv) sell the Trust Estate or any portion thereof or rights or interest therein, at one or more public or private sales called and conducted in any manner permitted by law; provided,
however, that the Indenture Trustee may not sell or otherwise liquidate the Trust Estate following an Event of Default, other than an Event of Default described in Section 5.01(i) or (ii), unless (A) the Holders of
100% of the Outstanding Amount of the Notes consent thereto, (B) the proceeds of such sale or liquidation distributable to the Noteholders are sufficient to discharge in full all amounts then due and unpaid upon such Notes for principal and
interest or (C) the Indenture Trustee determines that the Trust Estate will not continue to provide sufficient funds for the payment of principal of and interest on the Notes as they would have become due if the Notes had not been declared due
and payable, and the Indenture Trustee obtains the consent of Holders of not less than 66 2/3% of the Outstanding Amount of the Controlling Securities. In determining such sufficiency or insufficiency with respect to clauses (B) and
(C), the Indenture Trustee may, but need not, obtain and rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Trust
Estate for such purpose. 
 (b) If the Indenture Trustee collects any money or property pursuant to this Article V,
it shall pay out the money or property in the following order or priority: (i) pro rata to the Indenture Trustee for amounts due under Section 6.07 and to the Owner Trustee for amounts due under Section 8.01 and
Section 8.02 of the Trust Agreement and (ii) to the Collection Account as Collections to be applied pursuant to Article V of the Sale and Servicing Agreement. 

The Indenture Trustee may fix a record date and payment date for any payment to Noteholders pursuant to this Section. At least 15 days
before such record date, the Issuing Entity shall mail to each Noteholder and the Indenture Trustee a notice that states the record date, the payment date and the amount to be paid. 

Section 5.05 Optional Preservation of the Receivables. If the Notes have been declared to be due and payable under
Section 5.02 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may, but need not, elect to maintain possession of the Trust Estate. It is the desire of the
parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Indenture Trustee shall take such desire into account when determining whether or not to maintain
possession of the Trust Estate. In determining whether to maintain possession of the Trust Estate, the Indenture Trustee may, but need not, obtain and rely upon an opinion of an Independent investment banking or accounting firm of national
reputation as to the feasibility of such proposed action and as to the sufficiency of the Trust Estate for such purpose. 

  
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 Section 5.06 Limitation of Suits. No Holder of any Note shall have any right to
institute any Proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: 

(i) such Holder has previously given written notice to the Indenture Trustee of a continuing Event of Default; 

(ii) the Holders of not less than 25% of the Outstanding Amount of the Controlling Securities have made written request to
the Indenture Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Trustee hereunder; 
 (iii) such Holder or Holders have offered to the Indenture Trustee indemnity reasonably satisfactory to it against the costs, expenses and liabilities to be incurred in complying with such request;

 (iv) the Indenture Trustee for 60 days after its receipt of such notice, request and offer of indemnity has
failed to institute such Proceedings; and 
 (v) no direction inconsistent with such written request has been
given to the Indenture Trustee during such 60-day period by the Holders of at least 50% of the Outstanding Amount of the Controlling Securities. 
 It is understood and intended that no one or more Holders of Notes shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or
prejudice the rights of any other Holders of Notes or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided. 

Subject to Section 5.06(v), in the event the Indenture Trustee shall receive, in connection with Sections 5.06(ii) and
(iii), conflicting or inconsistent requests and indemnity from two or more groups of Holders of Notes, each representing less than 50% of the Outstanding Amount of the Controlling Securities, the Indenture Trustee shall act at the direction
of the group of Holders of Notes representing the greater Outstanding Amount of Controlling Securities. If the Indenture Trustee receives, in connection with this Section 5.06, conflicting or inconsistent requests and indemnity from two
or more groups of Holders of Notes representing an equal Outstanding Amount of the Controlling Securities, the Indenture Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this
Indenture. 
 Section 5.07 Unconditional Rights of Noteholders to Receive Principal and Interest. Notwithstanding
any other provisions in this Indenture, the Holder of any Note shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest, if any, on such Note on or after the respective due dates thereof
expressed in such Note or in this Indenture (or, in the case of redemption, on or after the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder.

  
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 Section 5.08 Restoration of Rights and Remedies. If the Indenture Trustee or any
Noteholder has instituted any Proceeding to enforce any right or remedy under this Indenture and such Proceeding has been discontinued or abandoned for any reason or has been determined adversely to the Indenture Trustee or to such Noteholder, then
and in every such case the Issuing Entity, the Indenture Trustee and the Noteholders shall, subject to any determination in such Proceeding, be restored severally and respectively to their former positions hereunder, and thereafter all rights and
remedies of the Indenture Trustee and the Noteholders shall continue as though no such Proceeding had been instituted. 

Section 5.09 Rights and Remedies Cumulative. No right or remedy herein conferred upon or reserved to the Indenture Trustee or
to the Noteholders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing
at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

Section 5.10 Delay or Omission Not a Waiver. No delay or omission of the Indenture Trustee or any Holder of any Note to
exercise any right or remedy accruing upon any Default or Event of Default shall impair any such right or remedy or constitute a waiver of any such Default or Event of Default or an acquiescence therein. Every right and remedy given by this
Article V or by law to the Indenture Trustee or to the Noteholders may be exercised from time to time, and as often as may be deemed expedient, by the Indenture Trustee or by the Noteholders, as the case may be. 

Section 5.11 Control by Noteholders. The Holders of 50% of the Outstanding Amount of the Controlling Securities shall have
the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Indenture Trustee with respect to the Notes or exercising any trust or power conferred on the Indenture Trustee; provided that: 

(i) such direction shall not be in conflict with any rule of law or with this Indenture; 

(ii) subject to the express terms of Section 5.04, any direction to the Indenture Trustee to sell or liquidate
the Trust Estate shall be by Holders of Notes representing not less than 100% of the Outstanding Amount of the Controlling Securities; 
 (iii) if the conditions set forth in Section 5.05 have been satisfied and the Indenture Trustee elects to retain the Trust Estate pursuant to such Section, then any direction to the Indenture
Trustee by Holders of Notes representing less than 100% of the Outstanding Amount of the Controlling Securities to sell or liquidate the Trust Estate shall be of no force and effect; and 

  
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 (iv) the Indenture Trustee may take any other action deemed proper by the
Indenture Trustee that is not inconsistent with such direction. 
 Notwithstanding the rights of Noteholders set forth in this Section, subject
to Section 6.01, the Indenture Trustee need not take any action that it determines might involve it in liability or might materially adversely affect the rights of any Noteholders not consenting to such action. 

Section 5.12 Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided
in Section 5.02, the Holders of Notes of not less than 50% of the Outstanding Amount of the Controlling Securities may waive any past Default or Event of Default and its consequences except a Default (a) in payment of principal of
or interest on any of the Notes or (b) in respect of a covenant or provision hereof which cannot be modified or amended without the consent of the Holder of each Note. The Indenture Trustee will give written notice of any such waiver to the
Swap Counterparty, if any. In the case of any such waiver, the Issuing Entity, the Indenture Trustee and the Holders of the Notes shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any
subsequent or other Default or impair any right consequent thereto. 
 Upon any such waiver, such Default shall cease to exist
and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture; but no such waiver shall extend to any subsequent
or other Default or Event of Default or impair any right consequent thereto. 
 Section 5.13 Undertaking for Costs.
All parties to this Indenture agree, and each Holder of a Note by such Holder’s acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this
Indenture, or in any suit against the Indenture Trustee for any action taken, suffered or omitted by it as Indenture Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in
its discretion assess reasonable costs, including reasonable attorneys’ fees and reasonable expenses, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant;
but the provisions of this Section shall not apply to (a) any suit instituted by the Indenture Trustee, (b) any suit instituted by any Noteholder, or group of Noteholders, in each case holding in the aggregate more than 10% of the
Outstanding Amount of the Controlling Securities or (c) any suit instituted by any Noteholder for the enforcement of the payment of principal of or interest on any Note on or after the respective due dates expressed in such Note and in this
Indenture (or, in the case of redemption, on or after the Redemption Date). 
 Section 5.14 Waiver of Stay or Extension
Laws. The Issuing Entity covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted,
now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the Issuing Entity (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and
covenants that it will not hinder, delay or impede the execution of any power herein granted to the Indenture Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 

  
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 Section 5.15 Action on Notes. The Indenture Trustee’s right to seek and
recover judgment on the Notes or under this Indenture shall not be affected by the seeking, obtaining or application of any other relief under or with respect to this Indenture. Neither the lien of this Indenture nor any rights or remedies of the
Indenture Trustee or the Noteholders shall be impaired by the recovery of any judgment by the Indenture Trustee against the Issuing Entity or by the levy of any execution under such judgment upon any portion of the Trust Estate or upon any of the
assets of the Issuing Entity. Any money or property collected by the Indenture Trustee shall be applied in accordance with Section 5.04(b). 
 Section 5.16 Performance and Enforcement of Certain Obligations. 
 (a)
Promptly following a request from the Indenture Trustee to do so and at the Administrator’s expense, the Issuing Entity shall take all such lawful action as the Indenture Trustee may, in its discretion, or, at the direction of the Holders of a
majority of the Outstanding Amount of the Controlling Securities, shall request to compel or secure the performance and observance by the Depositor or the Servicer, as applicable, of each of their obligations to the Issuing Entity under or in
connection with the Sale and Servicing Agreement or by the Depositor or the Servicer, as applicable, of each of their obligations under or in connection with the Receivables Purchase Agreement, or by any obligor under any Interest Rate Swap of its
obligations under or in accordance with such Interest Rate Swap, if any, and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuing Entity under or in connection with the Sale and Servicing Agreement and
such Interest Rate Swap, if any to the extent and in the manner directed by the Indenture Trustee, in its discretion or at the direction of the Holders of a majority of the Outstanding Amount of the Controlling Securities, including the transmission
of notices of default under the Sale and Servicing Agreement or any such Interest Rate Swap, if any on the part of the Depositor or the Servicer thereunder or the Interest Rate Swap obligor, if any, and the institution of legal or administrative
actions or proceedings to compel or secure performance by the Depositor or the Servicer and the Interest Rate Swap obligor, if any of each of their obligations under the Sale and Servicing Agreement and any Interest Rate Swap, if any. 

(b) If an Event of Default has occurred and is continuing, the Indenture Trustee may, and at the direction (which direction shall be in
writing or by telephone (confirmed in writing promptly thereafter)) of the Holders of 66 2/3% of the Outstanding Amount of the Controlling Securities shall, exercise all rights, remedies, powers, privileges and claims of the Issuing Entity against
the Depositor or the Servicer or the Interest Rate Swap, if any under or in connection with the Sale and Servicing Agreement or any Interest Rate Swap, if any, or against the Depositor under or in connection with the Receivables Purchase Agreement,
including the right or power to take any action to compel or secure performance or observance by the Depositor or the Servicer, of each of their obligations to the Issuing Entity thereunder and to give any consent, request, notice, direction,
approval, extension or waiver under the Sale and Servicing Agreement or the Receivables Purchase Agreement or any Interest Rate Swap, if any, as the case may be, and any right of the Issuing Entity to take such action shall be suspended. 

(c) The Indenture Trustee shall give prompt written notice to the Swap Counterparty, if any, of each request for action that is made and
direction received pursuant to this Section 5.16. 

  
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 ARTICLE VI 
 THE INDENTURE TRUSTEE 
 Section 6.01 Duties of Indenture
Trustee. 
 (a) If an Event of Default has occurred and is continuing, the Indenture Trustee shall exercise the rights and
powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

(b) Except during the continuance of an Event of Default: 

(i) the Indenture Trustee undertakes to perform such duties and only such duties as are specifically set forth in this
Indenture and no implied covenants or obligations shall be read into this Indenture against the Indenture Trustee; and 
 (ii) in the absence of bad faith on its part, the Indenture Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or
opinions furnished to the Indenture Trustee and conforming to the requirements of this Indenture; however, in the case of certificates or opinions specifically required by any provision of this Indenture to be furnished to it, the Indenture Trustee
shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of any mathematical calculations or other facts stated therein). 

(c) The Indenture Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own
willful misconduct, except that: 
 (i) this paragraph does not limit the effect of paragraph (b) of this
Section 6.01; 
 (ii) the Indenture Trustee shall not be liable for any error of judgment made in
good faith by a Responsible Officer unless it is proved that the Indenture Trustee was negligent in ascertaining the pertinent facts; and 
 (iii) the Indenture Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 5.11.

 (d) Every provision of this Indenture that in any way relates to the Indenture Trustee is subject to
paragraphs (a), (b), (c) and (g) of this Section. 
 (e) The Indenture Trustee shall
not be liable for interest on any money received by it except as the Indenture Trustee may agree in writing with the Issuing Entity. 

  
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 (f) Money held in trust by the Indenture Trustee need not be segregated from other funds
except to the extent required by law or the terms of this Indenture or the Sale and Servicing Agreement. 
 (g) No provision of
this Indenture shall require the Indenture Trustee to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have
reasonable grounds to believe that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it, and none of the provisions contained in this Indenture shall in any event require the Indenture Trustee
to perform, or be responsible for the performance of, any of the obligations of the Servicer under this Indenture except during such time, if any, as the Indenture Trustee shall be the successor to, and be vested with the rights, duties, powers and
privileges of the Servicer in accordance with the terms of this Indenture. 
 (h) Every provision of this Indenture relating to
the conduct or affecting the liability of or affording protection to the Indenture Trustee shall be subject to the provisions of this Section and to the provisions of the TIA. 

(i) Subject to the other provisions of this Indenture and the Basic Documents, the Indenture Trustee shall have no duty (i) to see
to any recording, filing, or depositing of this Indenture or any agreement referred to herein or any financing statement or continuation statement evidencing a security interest, or to see to the maintenance of any such recording or filing or
depositing or to any re-recording, refiling or redepositing of any thereof, (ii) to see to any insurance or (iii) to see to the payment or discharge of any tax, assessment, or other governmental charge or any lien or encumbrance of any
kind owing with respect to, assessed or levied against, any part of the Collateral. 
 (j) The Indenture Trustee shall not be
charged with knowledge of any Event of Default unless either (1) a Responsible Officer shall have actual knowledge of such Event of Default or (2) written notice of such Event of Default shall have been given to such Indenture Trustee in
accordance with the provisions of this Indenture. 
 Section 6.02 Rights of Indenture Trustee. 

(a) The Indenture Trustee may conclusively rely on any document believed by it to be genuine and to have been signed or presented by the
proper person. 
 (b) Before the Indenture Trustee acts or refrains from acting, it may require an Officer’s Certificate of
the Issuing Entity or an Opinion of Counsel. The Indenture Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on an Officer’s Certificate or Opinion of Counsel. 

(c) The Indenture Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or
through agents or attorneys or a custodian or nominee, and the Indenture Trustee shall not be responsible for any misconduct or negligence on the part of, or for the supervision of, any such agent, attorney, custodian or nominee appointed with due
care by it hereunder. 

  
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 (d) The Indenture Trustee shall not be liable for any action it takes or omits to take in
good faith which it believes to be authorized or within its rights or powers; provided, that the Indenture Trustee’s conduct does not constitute willful misconduct, negligence or bad faith. 

(e) The Indenture Trustee may consult with counsel of its own selection, and the advice or opinion of counsel with respect to legal
matters relating to this Indenture and the Notes shall be full and complete authorization and protection from liability in respect to any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of
such counsel. 
 (f) The Indenture Trustee shall be under no obligation to exercise any of the rights or powers vested in it by
this Indenture or to institute, conduct or defend any litigation hereunder or in relation hereto or to honor the request or direction of any of the Noteholders pursuant to this Indenture unless such Noteholders shall have offered to the Indenture
Trustee security or indemnity reasonably satisfactory to it against the reasonable costs, expenses, disbursements, advances and liabilities which might be incurred by it, its agents and its counsel in compliance with such request or direction.

 (g) The Indenture Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond or other paper or document, unless requested in writing to do so by the Holders of Notes representing at least 25% of the Controlling Securities;
provided that if the payment within a reasonable time to the Indenture Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Indenture Trustee, not reasonably assured
to the Indenture Trustee by the security afforded to it by the terms of this Indenture, the Indenture Trustee may require indemnity satisfactory to the Indenture Trustee in its reasonable discretion against such cost, expense or liability as a
condition to taking any such action. 
 (h) The right of the Indenture Trustee to perform any discretionary act enumerated in
this Indenture shall not be construed as a duty, and the Indenture Trustee shall not be answerable for other than its willful misconduct, negligence or bad faith in the performance of such act. 

(i) The rights, privileges, protections, immunities and benefits given to the Indenture Trustee, including, without limitation, its right
to be indemnified, are extended to, and shall be enforceable by, the Indenture Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder. 

(j) In no event shall the Indenture Trustee 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, strikes, work stoppages, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of
God, and interruptions, loss or malfunctions of utilities; it being understood that the Indenture Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable
under the circumstances. 

  
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 (k) In no event shall the Trustee be personally liable (i) for special, consequential
or punitive damages, (ii) for the acts or omissions of its nominees, correspondents, clearing agencies or securities depositories and (iii) for the acts or omissions of brokers or dealers. 

Section 6.03 Individual Rights of Indenture Trustee. The Indenture Trustee in its individual or any other capacity may become
the owner or pledgee of Notes and may otherwise deal with the Issuing Entity or its Affiliates with the same rights it would have if it were not Indenture Trustee. Any Paying Agent, Note Registrar, co-registrar or co-paying agent may do the same
with like rights. However, the Indenture Trustee must comply with Sections 6.11 and 6.12. 

Section 6.04 Indenture Trustee’s Disclaimer. The Indenture Trustee shall not be responsible for and makes no
representation as to the validity or adequacy of this Indenture or the Notes, it shall not be accountable for the Issuing Entity’s use of the proceeds from the Notes, and it shall not be responsible for any statement of the Issuing Entity in
the Indenture or in any document issued in connection with the sale of the Notes or in the Notes other than the Indenture Trustee’s certificate of authentication. 
 Section 6.05 Notice of Defaults. If a Default occurs and is continuing and if it is known to a Responsible Officer of the Indenture Trustee, the Indenture Trustee shall mail to each Noteholder
and the Swap Counterparty, if any notice of the Default within 90 days after it occurs. Except in the case of a Default in payment of principal of or interest on any Note (including payments pursuant to the mandatory redemption provisions of such
Note), the Indenture Trustee may withhold the notice if and so long as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of Noteholders. 

Section 6.06 Reports by Indenture Trustee. The Indenture Trustee shall deliver to each Noteholder such information as may be
required to enable such holder to prepare its federal and state income tax returns. On or before each Payment Date, the Indenture Trustee will post a copy of the statement or statements provided to the Indenture Trustee by the Servicer pursuant
to Section 5.08 of the Sale and Servicing Agreement with respect to the applicable Payment Date on its internet website promptly following its receipt thereof, for the benefit of the Noteholders. The Indenture Trustee’s internet
website shall initially be located at “https://tss.sfs.db.com/investpublic”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (800) 735-7777. The Indenture Trustee may
change the way the statements and information are posted or distributed in order to make such distribution more convenient and/or accessible for such Noteholders, and the Indenture Trustee shall provide on the website timely and adequate
notification to all parties regarding any such change. 
 Section 6.07 Compensation and Indemnity. The Issuing
Entity shall, or shall cause the Administrator to, pursuant to the Administration Agreement, pay to the Indenture Trustee from time to time reasonable compensation for its services. The Indenture Trustee’s compensation shall not be limited by
any law on compensation of a trustee of an express trust. The Issuing Entity shall, or shall cause the Administrator to, reimburse the Indenture Trustee for all reasonable and documented out-of-pocket expenses incurred or made by it, including costs
of 

  
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collection, in addition to the compensation for its services. Such expenses shall include the reasonable and documented compensation and expenses, disbursements and advances of the Indenture
Trustee’s agents, counsel, accountants and experts; provided, that, reimbursement for expenses and disbursements of any legal counsel to the Indenture Trustee shall be subject to any limitations separately agreed upon before the
date hereof between the Administrator and the Indenture Trustee. The Issuing Entity shall, or shall cause the Administrator to, pursuant to the Administration Agreement, indemnify the Indenture Trustee against any and all loss, liability, claim,
damage or expense (including attorneys’ fees) incurred by it in connection with the administration of this trust and the performance of its duties hereunder. The Indenture Trustee shall notify the Issuing Entity and the Administrator promptly
of any claim of which the Indenture Trustee has received written notice for which it may seek indemnity. Failure by the Indenture Trustee to so notify the Issuing Entity and the Administrator shall not relieve the Issuing Entity or the Administrator
of its obligations hereunder. The Issuing Entity shall, or shall cause the Administrator to, defend any such claim, and the Indenture Trustee may have separate counsel and the Issuing Entity shall, or shall cause the Administrator to, pay the fees
and expenses of such counsel. Neither the Issuing Entity nor the Administrator need reimburse any expense or indemnify against any loss, liability or expense incurred by the Indenture Trustee through the Indenture Trustee’s own willful
misconduct, negligence or bad faith. 
 The Issuing Entity’s payment obligations to the Indenture Trustee pursuant to this
Section shall survive the resignation or removal of the Indenture Trustee and the discharge of this Indenture. When the Indenture Trustee incurs expenses after the occurrence of a Default specified in Section 5.01(iv) or
(v) with respect to the Issuing Entity, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.

 Section 6.08 Replacement of Indenture Trustee. No resignation or removal of the Indenture Trustee and no
appointment of a successor Indenture Trustee shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.08. The Indenture Trustee may resign at any time by so notifying the
Issuing Entity and the Swap Counterparty, if any. The Indenture Trustee shall resign following the occurrence of an Event of Default if required by Section 3.10 of the TIA. The Indenture Trustee shall bear all costs and expenses of
locating and procuring the written acceptance by a qualified successor Indenture Trustee within 90 days of such Event of Default. The Holders of at least 50% of the Outstanding Amount of the Controlling Securities may remove the Indenture Trustee by
so notifying the Indenture Trustee and the Depositor and may appoint a successor Indenture Trustee. The Issuing Entity shall remove the Indenture Trustee if: 
 (i) the Indenture Trustee fails to comply with Section 6.11; 
 (ii) the Indenture Trustee is adjudged bankrupt or insolvent; 

(iii) a receiver or other public officer takes charge of the Indenture Trustee or its property; or 

(iv) the Indenture Trustee otherwise becomes incapable of acting. 

  
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 If the Indenture Trustee resigns or is removed or if a vacancy exists in the office of Indenture Trustee for
any reason (the Indenture Trustee in such event being referred to herein as the retiring Indenture Trustee), the Issuing Entity shall promptly appoint a successor Indenture Trustee and notify the Depositor of such appointment. 

A successor Indenture Trustee shall deliver a written acceptance of its appointment to the retiring Indenture Trustee, the Issuing Entity
and the Swap Counterparty, if any. Thereupon the resignation or removal of the retiring Indenture Trustee shall become effective, and the successor Indenture Trustee shall have all the rights, powers and duties of the Indenture Trustee under this
Indenture. The successor Indenture Trustee shall mail a notice of its succession to Noteholders. The retiring Indenture Trustee shall promptly transfer all property held by it as Indenture Trustee to the successor Indenture Trustee. 

If a successor Indenture Trustee does not take office within 60 days after the retiring Indenture Trustee resigns or is removed, the
retiring Indenture Trustee, the Issuing Entity or the Holders of at least 50% of the Outstanding Amount of the Controlling Securities may, at the expense of the Issuing Entity, petition any court of competent jurisdiction for the appointment of a
successor Indenture Trustee. 
 If the Indenture Trustee fails to comply with Section 6.11, any Noteholder may
petition any court of competent jurisdiction for the removal of the Indenture Trustee and the appointment of a successor Indenture Trustee. 
 Notwithstanding the replacement of the Indenture Trustee pursuant to this Section, the Issuing Entity’s and the Administrator’s obligations under Section 6.07 shall continue for the
benefit of the retiring Indenture Trustee. 
 Section 6.09 Successor Indenture Trustee by Merger. If the Indenture
Trustee consolidates with, merges or converts into, or transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further
act shall be the successor Indenture Trustee; provided, that such corporation or banking association shall be otherwise qualified and eligible under Section 6.11. The Indenture Trustee shall provide the Depositor (who shall
promptly provide such notice to the Rating Agencies) prior written notice of any such transaction. 
 In case at the time such
successor or successors by merger, conversion or consolidation to the Indenture Trustee shall succeed to the trusts created by this Indenture any of the Notes shall have been authenticated but not delivered, any such successor to the Indenture
Trustee may adopt the certificate of authentication of any predecessor trustee and deliver such Notes so authenticated; and in case at that time any of the Notes shall not have been authenticated, any successor to the Indenture Trustee may
authenticate such Notes either in the name of any predecessor hereunder or in the name of the successor to the Indenture Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Notes or in this
Indenture provided that the certificate of the Indenture Trustee shall have. 

  
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 Section 6.10 Appointment of Co-Indenture Trustee or Separate Indenture Trustee.

 (a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of
any jurisdiction in which any part of the Trust Estate may at the time be located, the Indenture Trustee shall have the power and may execute and deliver all instruments to appoint one or more Persons to act as a co-trustee or co-trustees, or
separate trustee or separate trustees, of all or any part of the Trust, and to vest in such Person or Persons, in such capacity and for the benefit of the Noteholders, such title to the Trust Estate, or any part hereof, and, subject to the other
provisions of this Section, such powers, duties, obligations, rights and trusts as the Indenture Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a
successor trustee under Section 6.11 and no notice to Noteholders of the appointment of any co-trustee or separate trustee shall be required under Section 6.08 hereof. 

(b) Every 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 Indenture Trustee
shall be conferred or imposed upon and exercised or performed by the Indenture 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
Indenture 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 Indenture 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 Indenture Trustee; 
 (ii) no trustee hereunder shall be personally liable by reason of
any act or omission of any other trustee hereunder; and 
 (iii) the Indenture Trustee may at any time accept the
resignation of or remove any separate trustee or co-trustee. 
 (c) Any notice, request or other writing given to the Indenture
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 Indenture and the
conditions of this Article VI. 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 Indenture
Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection to, the
Indenture Trustee. Every such instrument shall be filed with the Indenture Trustee. 

  
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 (d) Any separate trustee or co-trustee may at any time constitute the Indenture 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 Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, 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 Indenture Trustee, to the extent permitted by law, without the appointment of a new or successor trustee. 

Section 6.11 Eligibility; Disqualification. The Indenture Trustee shall at all times satisfy the requirements of TIA
§ 310(a). The Indenture Trustee shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition, and the time deposits of the Indenture Trustee shall be rated at least
A-1 by Standard & Poor’s and (if rated by Fitch) F-1 by Fitch. The Indenture Trustee shall comply with TIA § 310(b), including the optional provision permitted by the second sentence of TIA § 310(b)(9);
provided, however, that there shall be excluded from the operation of TIA § 310(b)(1) any indenture or indentures under which other securities of the Issuing Entity are outstanding if the requirements for such exclusion set
forth in TIA § 310(b)(1) are met. 
 Section 6.12 Preferential Collection of Claims Against Issuing
Entity. The Indenture Trustee shall comply with TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). An Indenture Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the
extent indicated. 
 Section 6.13 Representations and Warranties of the Indenture Trustee. The Indenture Trustee
hereby makes the following representations and warranties on which the Issuing Entity and Noteholders shall rely: 
 (a) the
Indenture Trustee is a New York banking corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its formation; 
 (b) the Indenture Trustee has full power, authority and legal right to execute, deliver, and perform this Indenture and shall have taken all necessary action to authorize the execution, delivery and
performance by it of this Indenture; 
 (c) the execution, delivery and performance by the Indenture Trustee of this Indenture
(i) shall not violate any provision of any law or regulation governing the banking and trust powers of the Indenture Trustee or any order, writ, judgment or decree of any court, arbitrator, or governmental authority applicable to the Indenture
Trustee or any of its assets, (ii) shall not violate any provision of the corporate charter or by-laws of the Indenture Trustee and (iii) shall not violate any provision of, or constitute, with or without notice or lapse of time, a default
under, or result in the creation or imposition of any lien on any properties included in the Trust Estate pursuant to the provisions of any mortgage, indenture, contract, agreement or other undertaking to which it is a party, which violation,
default or lien could reasonably be expected to have a materially adverse effect on the Indenture Trustee’s performance or ability to perform its duties under this Indenture or on the transactions contemplated in this Indenture; 

  
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 (d) the execution, delivery and performance by the Indenture Trustee of this Indenture shall
not require the authorization, consent approval of, the giving of notice to, the filing or registration with, or the taking of any other action in respect of, any governmental authority or agency regulating the banking and corporate trust activities
of the Indenture Trustee; and 
 (e) this Indenture has been duly executed and delivered by the Indenture Trustee and
constitutes the legal, valid and binding agreement of the Indenture Trustee, enforceable in accordance with its terms. 

Section 6.14 Communications Regarding Demands to Repurchase Receivables. The Indenture Trustee shall provide prompt notice to
World Omni and the Depositor of all demands received by a Reporting Officer of the Indenture Trustee for the repurchase or replacement of any Receivable for breach of the representations and warranties concerning such Receivable. The Indenture
Trustee shall, upon written request and at the sole cost and expense of either World Omni or the Depositor, provide (x) notification to World Omni and the Depositor with respect to any actions taken by the Indenture Trustee or determinations
made by the Indenture Trustee, in each case with respect to any such demand communicated to the Indenture Trustee in respect of any Receivables, and (y) any other records or information reasonably requested by World Omni or the Depositor, as
applicable, that is in the Indenture Trustee’s possession and reasonably accessible to it, such notifications to be provided by the Indenture Trustee as soon as practicable and in any event within five Business Days of such request or such
other time frame as may be mutually agreed to by the Indenture Trustee and World Omni or the Depositor, as applicable. Such notices shall be provided to World Omni and the Depositor at: (a) in the case of World Omni, World Omni Financial Corp.,
190 Jim Moran Boulevard, Deerfield Beach, Florida 33442, Telecopy: (954) 429-2685, Attention: Treasurer, and (b) in the case of the Depositor, to World Omni Auto Receivables LLC, 190 Jim Moran Boulevard, Deerfield Beach, Florida 33442,
Telecopy: (954) 429-2685, Attention: Treasurer, or at such other address or by such other means of communication as may be specified by World Omni or the Depositor to the Indenture Trustee from time to time. The Indenture Trustee and the
Issuing Entity acknowledge and agree that the purpose of this Section 6.14 is to facilitate compliance by World Omni and the Depositor with Rule 15Ga-1 under the Exchange Act, as amended, and Items 1104(e) and 1121(c) of Regulation AB
(the “Repurchase Rules and Regulations”). The Indenture Trustee acknowledges that interpretations of the requirements of the Repurchase Rules and Regulations may change over time, whether due to interpretive guidance provided by the
Commission or its staff, consensus among participants in the asset-backed securities markets, advice of counsel, or otherwise, and agrees to comply with reasonable requests made by World Omni and the Depositor in good faith for delivery of
information under these provisions on the basis of evolving interpretations of the Repurchase Rules and Regulations. The Indenture Trustee shall cooperate fully with World Omni and the Depositor to deliver any and all records and any other
information necessary in the good faith determination of World Omni and the Depositor to permit them to comply with the provisions of Repurchase Rules and Regulations. In no event shall the Indenture Trustee have any responsibility or liability in
connection with any filing required to be made by a securitizer under the Exchange Act or Regulation AB, nor shall the Indenture Trustee have any duty or obligation to undertake any investigation or inquiry related to repurchase activity or
otherwise to assume any additional duties or responsibilities in respect of the Indenture or the Sale and Servicing Agreement or the transactions contemplated thereby, other than any express duties or obligations as Indenture Trustee under this
Indenture. 

  
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 ARTICLE VII 
 NOTEHOLDERS’ LISTS AND REPORTS 
 Section 7.01 Issuing Entity
to Furnish Indenture Trustee Names and Addresses of Noteholders. The Issuing Entity will furnish or cause to be furnished to the Indenture Trustee (a) not more than five days after the earlier of (i) each Record Date and
(ii) three months after the last Record Date, a list, in such form as the Indenture Trustee may reasonably require, of the names and addresses of the Holders of Notes as of such Record Date, and (b) at such other times as the Indenture
Trustee may request in writing, within 30 days after receipt by the Issuing Entity of any such request, a list of similar form and content as of a date not more than 10 days prior to the time such list is furnished; provided, however,
that so long as the Indenture Trustee is the Note Registrar, no such lists shall be required to be furnished. 

Section 7.02 Preservation of Information; Communications to Noteholders. 

(a) The Indenture Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of the Holders of
Notes contained in the most recent list furnished to the Indenture Trustee as provided in Section 7.01 and the names and addresses of Holders of Notes received by the Indenture Trustee in its capacity as Note Registrar. The Indenture
Trustee may destroy any list furnished to it as provided in such Section 7.01 upon receipt of a new list so furnished. 
 (b) Noteholders may communicate pursuant to TIA § 312(b) with other Noteholders with respect to their rights under this Indenture or under the Notes. 

(c) The Issuing Entity, the Indenture Trustee and the Note Registrar shall have the protection of TIA § 312(c). 

Section 7.03 Reports by Issuing Entity. 
 (a) The Issuing Entity shall: 
 (i) file with the Indenture
Trustee, within 15 days after the Issuing Entity is required to file the same with the Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission
may from time to time by rules and regulations prescribe) that the Issuing Entity may be required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act; 

(ii) file with the Indenture Trustee and the Commission in accordance with rules and regulations prescribed from time to
time by the Commission such additional information, documents and reports with respect to compliance by the Issuing Entity with the conditions and covenants of this Indenture as may be required from time to time by such rules and regulations;

  
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 (iii) supply to the Indenture Trustee (and the Indenture Trustee shall
transmit by mail to The Depository Trust Company, on behalf of the Noteholders as described in TIA § 313(c)) such summaries of any information, documents and reports required to be filed by the Issuing Entity pursuant to
clauses (i) and (ii) of this Section 7.03(a) and by rules and regulations prescribed from time to time by the Commission; and 

(iv) delivery of such reports, information and documents to the Indenture Trustee is for informational purposes only and
the Indenture Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Issuing Entity’s compliance with any of its covenants
hereunder (as to which the Indenture Trustee is entitled to rely exclusively on Officers’ Certificates). 
 (b) Unless the
Issuing Entity otherwise determines, the fiscal year of the Issuing Entity shall end on December 31 of each year. 

Section 7.04 Reports by Indenture Trustee. If required by TIA § 313(a), within 60 days after each February 1,
beginning with February 1, 2014, the Indenture Trustee shall mail to each Noteholder as required by TIA § 313(c) and to the Swap Counterparty, if any a brief report dated as of such date that complies with TIA § 313(a). The
Indenture Trustee also shall comply with TIA § 313(b). 
 A copy of each report at the time of its mailing to
Noteholders shall be filed by the Indenture Trustee with the Commission and each stock exchange, if any, on which the Notes are listed. The Issuing Entity shall notify the Indenture Trustee if and when the Notes are listed on any stock exchange or
delisted therefrom. 
 ARTICLE VIII 
 ACCOUNTS, DISBURSEMENTS AND RELEASES 
 Section 8.01 Collection of
Money. Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money
and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall apply all such money received by it as provided in this Indenture. Except as otherwise expressly provided in this Indenture,
if any default occurs in the making of any payment or performance under any agreement or instrument that is part of the Trust Estate, the Indenture Trustee may take such action as may be appropriate to enforce such payment or performance, including
the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and any right to proceed thereafter as provided in Article V.

  
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 Section 8.02 Trust Accounts. 

(a) On or prior to the Closing Date, the Issuing Entity shall cause the Servicer to establish and maintain with and in the name of the
Indenture Trustee, for the benefit of the Noteholders and the Certificateholders, the Trust Accounts as provided in Section 5.01 of the Sale and Servicing Agreement. 

(b) If there is a Funding Period, on or before each Payment Date, Available Funds and any withdrawals from the Negative Carry Account up
to the Negative Carry Amount with respect to the preceding Collection Period will be deposited in the Collection Account as provided in Sections 5.01(e) and 5.02 of the Sale and Servicing Agreement. On or before each Payment Date,
the Indenture Trustee shall make all withdrawals and deposits to the Collection Account, Note Distribution Account, Reserve Account, the Pre-Funding Account, if any, and the Negative Carry Account, if any, and shall make all distributions to
Certificateholders in accordance with Sections 5.06 and 5.07 of the Sale and Servicing Agreement. 
 (c)
Except as otherwise provided in paragraphs (d), and (e) below, on each Payment Date and Redemption Date, the Indenture Trustee shall distribute all amounts on deposit in the Note Distribution Account, other than amounts deposited
in the Note Distribution Account pursuant to Section 5.01(d) of the Sale and Servicing Agreement, and allocated pursuant to Section 5.06 of the Sale and Servicing Agreement to Noteholders in respect of the Notes to the extent
of amounts due and unpaid on the Notes for principal and interest (including any premium) in the following amounts: 
 (i) to the Holders of Class A Notes, all amounts allocated to such Holders in respect of interest on the Class A Notes pro rata based upon the aggregate amount of accrued and unpaid interest due
and payable to the Holders of such Notes; 
 (ii) to the Holders of the Class B Notes, all amounts allocated to
such Holders in respect of interest on the Class B Notes; 
 (iii) to the Holders of the Class A Notes and
the Class B Notes, all amounts allocated to such Holders in respect of principal on the Notes will be paid to the Holders of the Class A Notes and Class B Notes in the following order of priority: 

(A) to the Class A-1 Notes until they are paid in full; then 

(B) to the Class A-2 Notes until they are paid in full; then 

(C) to the Class A-3 Notes until they are paid in full; then 

(D) to the Class A-4 Notes until they are paid in full; and then 

(E) to the Class B Notes until they are paid in full. 

  
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 In addition, on the Final Scheduled Payment Date for any Class of Notes, if the Outstanding
Amount of any Class of Notes remains greater than zero, the Indenture Trustee shall apply funds from the Reserve Account to repay the Outstanding Amount of such Class of Notes in full. 

(d) In the event the Notes are declared to be due and payable following the occurrence of an Event of Default pursuant to
Section 5.01(i) or (ii), the Indenture Trustee shall distribute all amounts on deposit in the Note Distribution Account and allocated pursuant to Section 5.06 of the Sale and Servicing Agreement to Noteholders in the
following order of priority: (i) to the Holders of the Class A Notes, all amounts allocated to such Holders in respect of interest on the Class A Notes pro rata based upon the aggregate amount of accrued and unpaid interest due and
payable to the Holders of such Notes; (ii) to the Holders of the Class A Notes, all amounts allocated to such Holders in respect of principal on the Class A Notes, first to the Holders of the Class A-1 Notes until the Outstanding
Amount of the Class A-1 Notes is reduced to zero, then to the Holders of the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes, pro rata based upon the Outstanding Amount due and payable to the Holders of such Notes;
(iii) to the Holders of the Class B Notes, all amounts allocated to such Holders in respect of interest on the Class B Notes; and (iv) to the Holders of the Class B Notes, all amounts allocated to such Holders in respect of principal on
the Class B Notes. If the Outstanding Amount of any Class of Notes remains greater than zero after application of clauses (i), (ii), (iii) and (iv) above, the Indenture Trustee shall apply funds from the Reserve
Account in the same order of priority as described above to repay the Outstanding Amount of such Class of Notes in full. 
 (e)
In the event the Notes are declared to be due and payable following the occurrence of an Event of Default other than pursuant to Sections 5.01(i) or (ii), the Indenture Trustee shall distribute all amounts on deposit in the Note
Distribution Account and allocated pursuant to Section 5.06 of the Sale and Servicing Agreement to Noteholders in the following order of priority: (i) to the Holders of the Class A Notes, all amounts allocated to such Holders
in respect of interest on the Class A Notes pro rata based upon the aggregate amount of accrued and unpaid interest due and payable to the Holders of such Notes; (ii) to the Holders of the Class B Notes, all amounts allocated to such
Holders in respect of interest on the Class B Notes; (iii) to the Holders of the Class A Notes, all amounts allocated to such Holders in respect of principal on the Class A Notes, first to the Holders of the Class A-1 Notes until
the Outstanding Amount of the Class A-1 Notes is reduced to zero, then to the Holders of the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes, pro rata based upon the Outstanding Amount due and payable to the Holders
of such Notes; and (iv) to the Holders of the Class B Notes, all amounts allocated to such Holders in respect of principal on the Class B Notes. 
 (f) [Reserved]. 
 (g) If there is a Funding Period, subject to Sections
8.02(d) and 8.02(e), on the Payment Date immediately following the calendar month in which the Funding Period ends, the Indenture Trustee shall apply any and all amounts deposited into the Note Distribution Account pursuant to
Section 5.01(d) of the Sales and Servicing Agreement to the repayment of principal on the Notes in accordance with the priorities set forth in Section 8.02(c), (d), or (e), as applicable. 

  
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 Section 8.03 General Provisions Regarding Accounts. 

(a) So long as no Default or Event of Default shall have occurred and be continuing, all or a portion of the funds in the Trust Accounts
shall be invested in Eligible Investments and reinvested by the Indenture Trustee subject to the provisions of Section 5.01(b) of the Sale and Servicing Agreement. All income or other gain from investments of monies deposited in the
Trust Accounts shall be deposited by the Indenture Trustee in the Collection Account, and any loss resulting from such investments shall be charged to such account. The Issuing Entity will not direct the Indenture Trustee to make any investment of
any funds or to sell any investment held in any Trust Account unless the security interest Granted and perfected in such account will continue to be perfected in such investment or the proceeds of such sale, in either case without any further action
by any Person, and, in connection with any direction to the Indenture Trustee to make any such investment or sale, if requested by the Indenture Trustee, the Issuing Entity shall deliver to the Indenture Trustee an Opinion of Counsel, acceptable to
the Indenture Trustee, to such effect. 
 (b) Subject to Section 6.01(c), the Indenture Trustee shall not in any way
be held liable by reason of any insufficiency in any of the Trust Accounts resulting from any loss on any Eligible Investment included therein except for losses attributable to the Indenture Trustee’s failure to make payments on such Eligible
Investments issued by the Indenture Trustee, in its commercial capacity as principal obligor and not as trustee, in accordance with their terms. 
 (c) If (i) the Issuing Entity (or the Servicer) shall have failed to give investment directions for any funds on deposit in the Trust Accounts to the Indenture Trustee by such time as may be agreed
by the Issuing Entity and Indenture Trustee on any Business Day, (ii) a Default or Event of Default shall have occurred and be continuing with respect to the Notes but the Notes shall not have been declared due and payable pursuant to
Section 5.02 or (iii) if such Notes shall have been declared due and payable following an Event of Default but amounts collected or receivable from the Trust Estate are being applied in accordance with Section 5.05 as if
there had not been such a declaration, then the Indenture Trustee shall, to the fullest extent practicable, invest and reinvest funds in the Trust Accounts in Eligible Investments (as defined in the Sale and Servicing Agreement) specified in clause
(i) of the definition thereof. 
 Section 8.04 Release of Trust Estate. 

(a) Subject to the payment of its fees and expenses pursuant to Section 6.07, the Indenture Trustee may, and when required by
the provisions of this Indenture shall, execute instruments to release property from the lien of this Indenture, or convey the Indenture Trustee’s interest in the same, in a manner and under circumstances that are not inconsistent with the
provisions of this Indenture. No party relying upon an instrument executed by the Indenture Trustee as provided in this Article VIII shall be bound to ascertain the Indenture Trustee’s authority, inquire into the satisfaction of any
conditions precedent or see to the application of any monies. 

  
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 (b) The Indenture Trustee shall, at such time as there are no Notes Outstanding and all sums
due the Indenture Trustee pursuant to Section 6.07 have been paid and all amounts owing by the Trust under the Interest Rate Swaps, if any have been paid (the Indenture Trustee shall be permitted to rely on a certificate from the Swap
Counterparty, if any to that effect), release any remaining portion of the Trust Estate that secured the Notes from the lien of this Indenture and release to the Issuing Entity or any other Person entitled thereto any funds then on deposit in the
Trust Accounts. The Indenture Trustee shall release property from the lien of this Indenture pursuant to this Section 8.04(b) only upon receipt of an Issuing Entity Request accompanied by an Officer’s Certificate of the Issuing
Entity, an Opinion of Counsel and (if required by the TIA) Independent Certificates in accordance with TIA §§ 314(c) and 314(d)(1) meeting the applicable requirements of Section 11.01, and the Indenture Trustee shall
provide copies of all such documents to the Swap Counterparty, if any. 
 Section 8.05 Opinion of Counsel. The
Indenture Trustee shall receive at least seven days’ notice when requested by the Issuing Entity to take any action pursuant to Section 8.04(a), accompanied by copies of any instruments involved, and the Indenture Trustee shall also
require, as a condition to such action, an Opinion of Counsel, in form and substance satisfactory to the Indenture Trustee, stating the legal effect of any such action, outlining the steps required to complete the same, and concluding that all
conditions precedent to the taking of such action have been complied with and such action will not materially and adversely impair the security for the Notes or the rights of the Noteholders in contravention of the provisions of this Indenture;
provided, however, that such Opinion of Counsel shall not be required to express an opinion as to the fair value of the Trust Estate. Counsel rendering any such opinion may rely, without independent investigation, on the accuracy and
validity of any certificate or other instrument delivered to the Indenture Trustee in connection with any such action. 

ARTICLE IX 

SUPPLEMENTAL INDENTURES 
 Section 9.01 Supplemental Indentures Without Consent of Noteholders. 

(a) Without the consent of the Holders of any Notes but with prior notice to the Rating Agencies, the Issuing Entity and the Indenture
Trustee, when authorized by an Issuing Entity Order, at any time and from time to time, may enter into one or more indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as in force at the date of the
execution thereof), in form satisfactory to the Indenture Trustee, for any of the following purposes: 
 (i) to
correct or amplify the description of any property at any time subject to the lien of this Indenture, or better to assure, convey and confirm unto the Indenture Trustee any property subject or required to be subjected to the lien of this Indenture,
or to subject to the lien of this Indenture additional property; 
 (ii) to evidence the succession, in
compliance with the applicable provisions hereof, of another person to the Issuing Entity, and the assumption by any such successor of the covenants of the Issuing Entity herein and in the Notes contained; 

  
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 (iii) to add to the covenants of the Issuing Entity, for the benefit of the
Holders of the Notes, or to surrender any right or power herein conferred upon the Issuing Entity; 
 (iv) to
convey, transfer, assign, mortgage or pledge any property to or with the Indenture Trustee; 
 (v) to cure any
ambiguity, to correct or supplement any provision herein or in any supplemental indenture that may be inconsistent with any other provision herein or in any supplemental indenture or to make any other provisions with respect to matters or questions
arising under this Indenture or in any supplemental indenture; provided, that such action, as evidenced by an Officer’s Certificate of the Servicer, shall not adversely affect the interests of the Holders of the Notes; 

(vi) to evidence and provide for the acceptance of the appointment hereunder by a successor trustee with respect to the
Notes and to add to or change any of the provisions of this Indenture as shall be necessary to facilitate the administration of the trusts hereunder by more than one trustee, pursuant to the requirements of Article VI; 

(vii) to modify, eliminate or add to the provisions of this Indenture to such extent as shall be necessary to effect the
qualification of this Indenture under the TIA or under any similar federal statute hereafter enacted and to add to this Indenture such other provisions as may be expressly required by the TIA; or 

(viii) to correct any manifest error with the terms of this Indenture as compared to the terms set forth in the Final
Prospectus. 
 The Indenture Trustee is hereby authorized to join in the execution of any such supplemental indenture and to
make any further appropriate agreements and stipulations that may be therein contained. 
 (b) The Issuing Entity and the
Indenture Trustee, when authorized by an Issuing Entity Order, may, also without the consent of any of the Holders of the Notes, enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to, or changing in
any manner or eliminating any of the provisions of, this Indenture or of modifying in any manner the rights of the Holders of the Notes under this Indenture; provided that such amendments require: (i) satisfaction of the Rating Agency
Condition and (ii) an Officer’s Certificate of the Servicer stating that the amendment will not materially and adversely affect the interest of any Noteholder. 
 (c) Notwithstanding any other provision of this Indenture, no indenture supplement (other than any supplement made pursuant to Section 9.01(a)(viii) above) shall be effective unless the Swap
Counterparty, if any, consents in writing to such supplement or such supplement will, as evidenced by a Materiality Opinion, have no material adverse effect on the interests of the Swap Counterparty, if any; provided, however, that if
an indenture supplement is entered into pursuant to Section 9.01(a), in lieu of providing a Materiality Opinion, the Issuing Entity may provide an Officers’ Certificate stating that such supplement will have no material adverse
effect on the interests of the Swap Counterparty, if any. 

  
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 Section 9.02 Supplemental Indentures with Consent of Noteholders. 

(a) The Issuing Entity and the Indenture Trustee, when authorized by an Issuing Entity Order, also may, with prior notice to the Rating
Agencies and with the consent of the Holders of not less than 50% of the Outstanding Amount of the Controlling Securities, by Act of such Holders delivered to the Issuing Entity and the Indenture Trustee, enter into an indenture or indentures
supplemental hereto for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, this Indenture or of modifying in any manner the rights of the Holders of the Notes under this Indenture;
provided, however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Note affected thereby: 
 (i) change the date of payment of any installment of principal of or interest on any Note, or reduce the principal amount thereof, the Interest Rate thereon or the Redemption Price with respect thereto,
change the provisions of this Indenture relating to the application of collections on, or the proceeds of the sale of, the Trust Estate to payment of principal of or interest on the Notes, or change any place of payment where, or the coin or
currency in which, any Note or the interest thereon is payable, or impair the right to institute suit for the enforcement of the provisions of this Indenture requiring the application of funds available therefor, as provided in
Article V, to the payment of any such amount due on the Notes on or after the respective due dates thereof (or, in the case of redemption, on or after the Redemption Date); 

(ii) reduce the percentage of the Outstanding Amount of the Controlling Securities, the consent of the Holders of which is
required for any such supplemental indenture, or the consent of the Holders of which is required for any waiver of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences provided for in this
Indenture; 
 (iii) modify or alter the provisions of the proviso to the definition of the term
“Outstanding”; 
 (iv) reduce the percentage of the Outstanding Amount of the Controlling Securities
required to direct the Indenture Trustee to direct the Issuing Entity to sell or liquidate the Trust Estate pursuant to Section 5.04; 
 (v) modify any provision of this Section except to increase any percentage specified herein or to provide that certain additional provisions of this Indenture or the Basic Documents cannot be
modified or waived without the consent of the Holder of each Outstanding Note affected thereby; 

  
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 (vi) modify any of the provisions of this Indenture in such manner as to
affect the calculation of the amount of any payment of interest or principal due on any Note on any Payment Date (including the calculation of any of the individual components of such calculation) or to affect the rights of the Holders of Notes to
the benefit of any provisions for the mandatory redemption of the Notes contained herein; 
 (vii) permit the
creation of any lien ranking prior to or on a parity with the lien of this Indenture with respect to any part of the Trust Estate or, except as otherwise permitted or contemplated herein, terminate the lien of this Indenture on any property at any
time subject hereto or deprive the Holder of any Note of the security provided by the lien of this Indenture; or 

(viii) except as provided in Section 5.04(a)(iv), liquidate the Receivables when the proceeds of such sale
would be insufficient to fully pay the Notes. 
 (b) The Indenture Trustee may in its discretion determine whether or not any
Notes would be affected by any supplemental indenture and any such determination shall be conclusive upon the Holders of all Notes, whether theretofore or thereafter authenticated and delivered hereunder. The Indenture Trustee shall not be liable
for any such determination made in good faith. 
 (c) It shall not be necessary for any Act of Noteholders under this Section to
approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 
 (d) Promptly after the execution by the Issuing Entity and the Indenture Trustee of any supplemental indenture pursuant to this Section, the Indenture Trustee shall mail to the Holders of the Notes to
which such amendment or supplemental indenture relates a notice setting forth in general terms the substance of such supplemental indenture. Any failure of the Indenture Trustee to mail such notice, or any defect therein, shall not, however, in any
way impair or affect the validity of any such supplemental indenture. 
 (e) Notwithstanding any other provision of this
Indenture, no indenture supplement shall be effective unless the Swap Counterparty, if any consents in writing to such supplement or such supplement will, as evidenced by a Materiality Opinion, have no material adverse effect on the interests of the
Swap Counterparty, if any; provided, however, that if an indenture supplement is entered into pursuant to Section 9.01(a), in lieu of providing a Materiality Opinion, the Issuing Entity may provide an Officers’
Certificate stating that such supplement will have no material adverse effect on the interests of the Swap Counterparty, if any. 
 Section 9.03 Execution of Supplemental Indentures. In executing, or permitting the additional trusts created by, any supplemental indenture permitted by this Article IX or the
modification thereby of the trusts created by this Indenture, the Indenture Trustee shall be provided with and, subject to Sections 6.01 and 6.02, shall be fully protected in relying upon, an Opinion of Counsel stating that the
execution of such supplemental indenture is authorized or permitted by this Indenture. The Indenture Trustee may, but shall not be obligated to, enter into any such supplemental indenture that affects the Indenture Trustee’s own rights, duties,
liabilities or immunities under this Indenture or otherwise. 

  
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 Section 9.04 Effect of Supplemental Indenture. Upon the execution of any
supplemental indenture pursuant to the provisions hereof, this Indenture shall be and shall be deemed to be modified and amended in accordance therewith with respect to the Notes affected thereby, and the respective rights, limitations of rights,
obligations, duties, liabilities and immunities under this Indenture of the Indenture Trustee, the Issuing Entity and the Holders of the Notes shall thereafter be determined, exercised and enforced hereunder subject in all respects to such
modifications and amendments, and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes. 

Section 9.05 Conformity with Trust Indenture Act. Every amendment of this Indenture and every supplemental indenture executed
pursuant to this Article IX shall conform to the requirements of the Trust Indenture Act as then in effect so long as this Indenture shall then be qualified under the Trust Indenture Act. 

Section 9.06 Reference in Notes to Supplemental Indentures. Notes authenticated and delivered after the execution of any
supplemental indenture pursuant to this Article IX may, and if required by the Indenture Trustee shall, bear a notation in form approved by the Indenture Trustee as to any matter provided for in such supplemental indenture. If the
Issuing Entity or the Indenture Trustee shall so determine, new Notes so modified as to conform, in the opinion of the Indenture Trustee and the Issuing Entity, to any such supplemental indenture may be prepared and executed by the Issuing Entity
and authenticated and delivered by the Indenture Trustee in exchange for Outstanding Notes. 
 ARTICLE X 

REDEMPTION OF NOTES 
 Section 10.01 Redemption. The outstanding Notes are subject to redemption in whole, but not in part, at the direction of the Servicer pursuant to Section 9.01(a) of the Sale and
Servicing Agreement, on any Payment Date on which the Servicer exercises its option to purchase the Owner Trust Estate pursuant to said Section 9.01(a), for a purchase price equal to the Redemption Price; provided that the Issuing
Entity has available funds sufficient to pay the Redemption Price. The Servicer or the Issuing Entity shall furnish the Rating Agencies notice of such redemption. If the outstanding Notes are to be redeemed pursuant to this Section, the Servicer or
the Issuing Entity shall furnish notice of such election to the Indenture Trustee not later than the close of business on the first calendar day of the month in which the Redemption Date occurs and the Issuing Entity shall deposit by 10:00 A.M.
New York City time on the Redemption Date with the Indenture Trustee in the Note Distribution Account the Redemption Price of the Notes to be redeemed, whereupon all such Notes shall be due and payable on the Redemption Date upon the furnishing
of a notice complying with Section 10.02 to each Holder of the Notes. 

  
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 Section 10.02 Form of Redemption Notice. Notice of redemption under
Section 10.01 shall be given by the Indenture Trustee by first-class mail, postage prepaid, or by facsimile mailed or transmitted not later than 10 days prior to the applicable Redemption Date to each Holder of Notes, as of the close of
business on the Record Date preceding the applicable Redemption Date, at such Holder’s address or facsimile number appearing in the Note Register. 
 All notices of redemption shall state: 
 (a) the Redemption Date; 

(b) the Redemption Price; 
 (c) the place where such Notes are to be surrendered for payment of the Redemption Price (which shall be the office or agency of the Issuing Entity to be maintained as provided in
Section 3.02); and 
 (d) applicable “CUSIP” numbers. 

Notice of redemption of the Notes shall be given by the Indenture Trustee in the name and at the expense of the Issuing Entity. Failure
to give notice of redemption, or any defect therein, to any Holder of any Note shall not impair or affect the validity of the redemption of any other Note. 
 Section 10.03 Notes Payable on Redemption Date. The Notes or portions thereof to be redeemed shall, following notice of redemption as required by Section 10.02, on the Redemption
Date become due and payable at the Redemption Price and (unless the Issuing Entity shall default in the payment of the Redemption Price) no interest shall accrue on the Redemption Price for any period after the date to which accrued interest is
calculated for purposes of calculating the Redemption Price. 
 ARTICLE XI 

MISCELLANEOUS 
 Section 11.01 Compliance Certificates and Opinions, etc. 
 (a) Upon
any application or request by the Issuing Entity to the Indenture Trustee to take any action under any provision of this Indenture, the Issuing Entity shall furnish to the Indenture Trustee (i) an Officer’s Certificate stating that all
conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with, (ii) an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been
complied with and (iii) (if required by the TIA) an Independent Certificate from a firm of certified public accountants meeting the applicable requirements of this Section, except that, in the case of any such application or request as to which
the furnishing of such documents is specifically required by any provision of this Indenture, no additional certificate or opinion need be furnished. 

  
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 Every certificate or opinion with respect to compliance with a condition or covenant
provided for in this Indenture shall include: 
 (1) a statement that each signatory of such certificate or
opinion has read or has caused to be read such covenant or condition and the definitions herein relating thereto; 
 (2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 

(3) a statement that, in the opinion of each such signatory, such signatory has made such examination or investigation as
is necessary to enable such signatory to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (4) a statement as to whether, in the opinion of each such signatory, such condition or covenant has been complied with. 
 (b) (i) Prior to the deposit of any Collateral or other property or securities with the Indenture Trustee that is to be made the basis for the release of any property or securities subject to the
lien of this Indenture, the Issuing Entity shall, in addition to any obligation imposed in Section 11.01(a) or elsewhere in this Indenture, furnish to the Indenture Trustee an Officer’s Certificate certifying or stating the opinion
of the person signing such certificate as to the fair value (within 90 days of such deposit) to the Issuing Entity of the Collateral or other property or securities to be so deposited. 

(ii) Whenever the Issuing Entity is required to furnish to the Indenture Trustee an Officer’s Certificate certifying
or stating the opinion of any signer thereof as to the matters described in clause (i) above, the Issuing Entity shall also deliver to the Indenture Trustee an Independent Certificate as to the same matters, if the fair value to the Issuing
Entity of the securities to be so deposited and of all other such securities made the basis of any such withdrawal or release since the commencement of the then-current fiscal year of the Issuing Entity, as set forth in the certificates delivered
pursuant to clause (i) above and this clause (ii), is 10% or more of the Outstanding Amount of the Notes, but such a certificate need not be furnished with respect to any securities so deposited, if the fair value thereof to the Issuing
Entity as set forth in the related Officer’s Certificate is less than $25,000 or less than one percent of the Outstanding Amount of the Notes. 
 (iii) Whenever any property or securities are to be released from the lien of this Indenture, the Issuing Entity shall also furnish to the Indenture Trustee an Officer’s Certificate certifying or
stating the opinion of each person signing such certificate as to the fair value (within 90 days of such release) of the property or securities proposed to be released and stating that in the opinion of such person the proposed release will not
impair the security under this Indenture in contravention of the provisions hereof. 

  
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 (iv) Whenever the Issuing Entity is required to furnish to the Indenture
Trustee an Officer’s Certificate certifying or stating the opinion of any signer thereof as to the matters described in clause (iii) above, the Issuing Entity shall also furnish to the Indenture Trustee an Independent Certificate as to the
same matters if the fair value of the property or securities and of all other property, other than property as contemplated by clause (v) below or securities released from the lien of this Indenture since the commencement of the then-current
calendar year, as set forth in the certificates required by clause (iii) above and this clause (iv), equals 10% or more of the Outstanding Amount of the Notes, but such certificate need not be furnished in the case of any release of
property or securities if the fair value thereof as set forth in the related Officer’s Certificate is less than $25,000 or less than one percent of the then Outstanding Amount of the Notes. 

(v) Notwithstanding Section 2.10 or any other provision of this Section, the Issuing Entity may, without
compliance with the requirements of the other provisions of this Section, (A) collect, liquidate, sell or otherwise dispose of Receivables and Financed Vehicles as and to the extent permitted or required by the Basic Documents and (B) make
cash payments out of the Note Distribution Account as and to the extent permitted or required by the Basic Documents, so long as the Issuing Entity shall deliver to the Indenture Trustee every six months, commencing November 15, 2013, an
Officer’s Certificate of the Issuing Entity stating that all the dispositions of Collateral described in clauses (A) or (B) above that occurred during the preceding six calendar months were in the ordinary course of the Issuing
Entity’s business and that the proceeds thereof were applied in accordance with the Basic Documents. 
 Section 11.02
Form of Documents Delivered to Indenture Trustee. In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by
the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such
Person may certify or give an opinion as to such matters in one or several documents. 
 Any certificate or opinion of an
Authorized Officer of the Issuing Entity may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the
certificate or opinion or representations with respect to the matters upon which such officer’s certificate or opinion is based are erroneous. Any such certificate of an Authorized Officer or Opinion of Counsel may be based, insofar as it
relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Servicer, the Depositor, the Issuing Entity or the Administrator, stating that the information with respect to such factual matters is
in the possession of the Servicer, the Depositor, the Issuing Entity or the Administrator, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters
are erroneous. 

  
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 Where any Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
 Whenever in this Indenture, in connection with any application or certificate or report to the Indenture Trustee, it is provided that the Issuing Entity shall deliver any document as a condition of the
granting of such application, or as evidence of the Issuing Entity’s compliance with any term hereof, it is intended that the truth and accuracy, at the time of the granting of such application or at the effective date of such certificate or
report (as the case may be), of the facts and opinions stated in such document shall in such case be conditions precedent to the right of the Issuing Entity to have such application granted or to the sufficiency of such certificate or report. The
foregoing shall not, however, be construed to affect the Indenture Trustee’s right to rely upon the truth and accuracy of any statement or opinion contained in any such document as provided in Article VI. 

Section 11.03 Acts of Noteholders. 
 (a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by Noteholders may be embodied in and evidenced by one or more
instruments of substantially similar tenor signed by such Noteholders 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 Indenture Trustee and, where it is hereby expressly required, to the Issuing Entity. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act of the
Noteholders” 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 Indenture and (subject to Section 6.01)
conclusive in favor of the Indenture Trustee and the Issuing Entity, 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 Indenture Trustee deems sufficient. 
 (c) The ownership of Notes shall be proved by the Note Register. 
 (d) Any
request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Notes shall bind the Holder of every Note 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 Indenture Trustee or the Issuing Entity in reliance thereon, whether or not notation of such action is made upon such Note. 
 (e) The Indenture Trustee shall promptly deliver to the Swap Counterparty, if any, copies of any notice it receives from the Noteholders. 

  
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 Section 11.04 Notices, etc., to Indenture Trustee, Issuing Entity and Rating
Agencies. Any request, demand, authorization, direction, notice, consent, waiver or Act of Noteholders or other documents provided or permitted by this Indenture shall be in writing and if such request, demand, authorization, direction, notice,
consent, waiver or act of Noteholders is to be made upon, given or furnished to or filed with: 
 (i) the
Indenture Trustee by any Noteholder or by the Issuing Entity shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing (which may be made via e-mail transmission, pdf, facsimile or overnight delivery) to or with
the Indenture Trustee at its Corporate Trust Office, or 
 (ii) the Issuing Entity by the Indenture Trustee or by
any Noteholder shall be sufficient for every purpose hereunder if in writing and mailed first-class, postage prepaid to the Issuing Entity addressed to: World Omni Auto Receivables Trust 2013-A, in care of the Owner Trustee at its Corporate Trust
Office, or at any other address previously furnished in writing to the Indenture Trustee by the Issuing Entity or the Administrator. The Issuing Entity shall promptly transmit any notice received by it from the Noteholders to the Indenture Trustee.

 Notices required to be given to the Rating Agencies shall be given to the Depositor, which shall promptly post such notice to
the website maintained by the Depositor for notifications to nationally recognized statistical rating organizations. 

Section 11.05 Notices to Noteholders; Waiver. Where this Indenture provides for notice to Noteholders of any event, such
notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class, postage prepaid to each Noteholder affected by such event, at such Holder’s address as it appears on the Note Register, not
later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. In any case where notice to Noteholders is given by mail, neither the failure to mail such notice nor any defect in any notice so mailed to
any particular Noteholder shall affect the sufficiency of such notice with respect to other Noteholders, and any notice that is mailed in the manner herein provided shall conclusively be presumed to have been duly given. 

Where this Indenture provides for notice in any manner, such notice may be waived in writing by any Person entitled to receive such
notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Noteholders shall be filed with the Indenture Trustee but such filing shall not be a condition precedent to the validity of any
action taken in reliance upon such a waiver. 
 In case, by reason of the suspension of regular mail service as a result of a
strike, work stoppage or similar activity, it shall be impractical to mail notice of any event to Noteholders when such notice is required to be given pursuant to any provision of this Indenture, then any manner of giving such notice as shall be
satisfactory to the Indenture Trustee shall be deemed to be a sufficient giving of such notice. 

  
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 Where this Indenture provides for notice to the Rating Agencies, failure to give such notice
shall not affect any other rights or obligations created hereunder, and shall not under any circumstance constitute a Default or Event of Default. 
 Section 11.06 Alternate Payment and Notice Provisions. Notwithstanding any provision of this Indenture or any of the Notes to the contrary, the Issuing Entity may enter into any agreement with
any Holder of a Note providing for a method of payment, or notice by the Indenture Trustee or any Paying Agent to such Holder, that is different from the methods provided for in this Indenture for such payments or notices. The Issuing Entity will
furnish to the Indenture Trustee a copy of each such agreement and the Indenture Trustee will cause payments to be made and notices to be given in accordance with such agreements. 

Section 11.07 Conflict with Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with another
provision hereof that is required to be included in this Indenture by any of the provisions of the Trust Indenture Act, such required provision shall control. 
 The provisions of TIA §§ 310 through 317 that impose duties on any person (including the provisions automatically deemed included herein unless expressly excluded by this Indenture) are a
part of and govern this Indenture, whether or not physically contained herein. 
 Section 11.08 Effect of Headings and
Table of Contents. The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 
 Section 11.09 Successors and Assigns. All covenants and agreements in this Indenture and the Notes by the Issuing Entity shall bind its successors and assigns, whether so expressed or not. All
agreements of the Indenture Trustee in this Indenture shall bind its successors, co-trustees and agents. 
 Section 11.10
Severability. In case any provision in this Indenture or in the Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 Section 11.11 Benefits of Indenture. Nothing in this Indenture or in the Notes, express or implied, shall give to
any Person, other than the parties hereto and their successors hereunder, and the Noteholders, the Swap Counterparty, if any and any other party secured hereunder, and any other Person with an ownership interest in any part of the Trust Estate, any
benefit or any legal or equitable right, remedy or claim under this Indenture. The Swap Counterparty, if any shall be a third-party beneficiary to this Indenture, but only to the extent that it has any rights specified herein or rights with respect
to this Indenture specified under any applicable Swap Counterparty Rights Agreement. 
 Section 11.12 Legal
Holidays. In any case where the date on which any payment is due shall not be a Business Day, then (notwithstanding any other provision of the Notes or this Indenture) payment need not be made on such date, but may be made on the next succeeding
Business Day with the same force and effect as if made on the date on which nominally due, and no interest shall accrue for the period from and after any such nominal date. 

  
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 Section 11.13 GOVERNING LAW. THIS INDENTURE SHALL BE CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ANY OTHERWISE APPLICABLE CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

Section 11.14 Counterparts. This Indenture may be executed in any number of counterparts, each of which so executed shall be
deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

Section 11.15 Recording of Indenture. If this Indenture is subject to recording in any appropriate public recording offices,
such recording is to be effected by the Issuing Entity and at its expense accompanied by an Opinion of Counsel (which may be counsel to the Indenture Trustee or any other counsel reasonably acceptable to the Indenture Trustee) to the effect that
such recording is necessary either for the protection of the Noteholders or any other Person secured hereunder or for the enforcement of any right or remedy granted to the Indenture Trustee under this Indenture. 

Section 11.16 Trust Obligation. It is expressly understood and agreed by the parties hereto that (a) this Indenture is
executed and delivered by the Trustee Bank, not individually or personally but solely as Owner Trustee, 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 Issuing Entity is made and intended not as personal representations, undertakings and agreements by the Trustee Bank, but is made and intended for the purpose of binding only the Issuing
Entity, (c) nothing herein contained shall be construed as creating any liability on the Trustee Bank, individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, contained herein, all such liability
of the Trustee Bank in its individual or personal capacity, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto and (d) under no circumstances shall the Trustee Bank be
personally liable for the payment of any indebtedness or expenses of the Issuing Entity under this Indenture or any other related documents. 
 No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing Entity, the Owner Trustee or the Indenture Trustee on the Notes or under this Indenture or any certificate
or other writing delivered in connection herewith or therewith, against (i) the Indenture Trustee or the Owner Trustee in their individual capacities, (ii) any owner of a beneficial interest in the Issuing Entity or (iii) any partner,
owner, beneficiary, agent, officer, director, employee or agent of the Indenture Trustee or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuing Entity, the Owner Trustee or the Indenture Trustee or of any
successor or assign of the Indenture Trustee or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their
individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, 

  
 59 

 
to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of
this Indenture, in the performance of any duties or obligations of the Issuing Entity hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VI, VII and VIII
of the Trust Agreement and the Administration Agreement. 
 In the event that a Noteholder (other than WOAR) is deemed, under
applicable law by any court or other authority of competent jurisdiction, to have an interest in any assets of WOAR or any Affiliate of WOAR other than the beneficial interest in Trust (“other assets”), the parties to this Indenture and
the Noteholders acknowledge and agree that: (i) such Noteholder’s Note represents a claim of the Noteholder against the assets of the Trust and the Trust Estate only, (ii) any such Noteholder’s claim against any other assets
shall be, and hereby is, subject and subordinate in all respects to the rights of other Persons to whom rights in the other assets have been expressly granted (“entitled Persons”), including to the payment in full of all amounts owing to
such entitled Persons, and (iii) the covenant set forth in the preceding clause (ii) constitutes a “subordination agreement” within the meaning of, and subject to, Section 510(a) of the Bankruptcy Code. 

Section 11.17 No Petition. The Indenture Trustee, by entering into this Indenture, and each Noteholder, by accepting a Note,
hereby covenant and agree that they will not at any time institute against the Depositor or the Issuing Entity, or join in any institution against the Depositor or the Issuing Entity of, any involuntary bankruptcy, reorganization, arrangement,
insolvency or liquidation proceedings, or other proceedings under any United States federal or state bankruptcy or similar law in connection with any obligations relating to the Notes, this Indenture or any of the Basic Documents. 

Section 11.18 Inspection. The Issuing Entity agrees that, on reasonable prior notice, it will permit any representative of
the Indenture Trustee, during the Issuing Entity’s normal business hours, to examine all the books of account, records, reports and other papers of the Issuing Entity, to make copies and extracts therefrom, to cause such books to be audited by
Independent certified public accountants, and to discuss the Issuing Entity’s affairs, finances and accounts with the Issuing Entity’s officers, employees and Independent certified public accountants, all at such reasonable times and as
often as may be reasonably requested. The Indenture Trustee shall, and shall cause its representatives to, hold in confidence all such information except to the extent disclosure may be required by law (and all reasonable applications for
confidential treatment are unavailing) and except to the extent that the Indenture Trustee may reasonably determine that such disclosure is consistent with its obligations hereunder. 

Section 11.19 Waiver of Jury Trial. EACH OF THE ISSUING ENTITY AND THE INDENTURE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY. 

  
 60 

 ARTICLE XII  

COMPLIANCE WITH REGULATION AB  
 Section 12.01 Intent of the Parties; Reasonableness. The Depositor and the Indenture Trustee acknowledge and agree that the purpose of this Article XII is to facilitate compliance by the
Depositor with the provisions of Regulation AB and related rules and regulations of the Commission. The Depositor shall not exercise its right to request delivery of information or other performance under these provisions other than in good faith,
or for purposes other than the Depositor’s compliance with the Securities Act, the Securities Exchange Act and the rules and regulations of the Commission thereunder (or the provision in a private offering of disclosure comparable to that
required under the Securities Act). The Indenture Trustee agrees to cooperate in good faith with any reasonable request by the Depositor for information regarding the Indenture Trustee which is required in order to enable the Depositor to comply
with the provisions of Items 1109(a), 1109(b), 1117, 1119 and 1122 of Regulation AB as it relates to the Indenture Trustee or to the Indenture Trustee’s obligations under this Indenture or any indenture supplement. 

Section 12.02 Additional Representations and Warranties of the Indenture Trustee. The Indenture Trustee shall be deemed to
represent to the Depositor, as of the date on which information is provided to The Depository Trust Company under Section 6.06 that, except as disclosed in writing to the Depositor prior to such date to the best of its knowledge, but
without independent investigation: (i) neither the execution, delivery and performance by the Indenture Trustee of this Indenture or any indenture supplement, the performance by the Indenture Trustee of its obligations under this Indenture or
any indenture supplement nor the consummation of any of the transactions by the Indenture Trustee contemplated thereby, is in violation of any indenture, mortgage, bank credit agreement, note or bond purchase agreement, long-term lease, license or
other agreement or instrument to which the Indenture Trustee is a party or by which it is bound, which violation would have a material adverse effect on the Indenture Trustee’s ability to perform its obligations under this Indenture or any
indenture supplement, or of any judgment or order applicable to the Indenture Trustee; and (ii) there are no proceedings pending or threatened against the Indenture Trustee in any court or before any governmental authority, agency or
arbitration board or tribunal which, individually or in the aggregate, would have a material adverse effect on the right, power and authority of the Indenture Trustee to enter into this Indenture or any indenture supplement or to perform its
obligations under this Indenture or any indenture supplement. 
 Section 12.03 Information to Be Provided by the
Indenture Trustee. For so long as the Issuing Entity is required to report under the Exchange Act, the Indenture Trustee shall (i) on or before the fifth Business Day of each month, provide to the Depositor, in writing, such information
regarding the Indenture Trustee as is requested by the Depositor (if any) for the purpose of compliance with Item 1117 of Regulation AB; provided, however, that the Indenture Trustee shall not be required to provide such
information in the event that there has been no change to the information previously provided by the Indenture Trustee to the Depositor, and (ii) as promptly as practicable following notice to or discovery by a Responsible Officer of the
Indenture Trustee of any changes to such information, provide to the Depositor, in writing, such updated information. 

  
 61 

 For so long as the Issuing Entity is required to report under the Exchange Act, the
Indenture Trustee shall (i) on or before the fifth Business Day of each January, April, July and October, provide to the Depositor such information regarding the Indenture Trustee as is requested for the purpose of compliance with Items
1109(a), 1109(b) and 1119 of Regulation AB; provided, however, that the Indenture Trustee shall not be required to provide such information in the event that there has been no change to the information previously provided by the
Indenture Trustee to the Depositor, and (ii) as promptly as practicable following notice to or discovery by the Indenture Trustee of any changes to such information, provide to the Depositor, in writing, updated information necessary for
compliance with Item 1117 of Regulation AB. Such information shall include, at a minimum: 
 (a) the Indenture
Trustee’s name and form of organization; 
 (b) a description of the extent to which the Indenture Trustee has had prior
experience serving as trustee for asset-backed securities transactions involving receivables of the same type as the Receivables; 
 (c) a description of any affiliation between the Indenture Trustee and any of the following parties to a Securitization Transaction, as such parties are identified to the Indenture Trustee by the
Depositor in writing in advance of such Securitization Transaction: 
  

	 	(i)	the sponsor; 

  

	 	(ii)	any depositor; 

  

	 	(iii)	the issuing entity; 

  

	 	(iv)	any servicer; 

  

	 	(v)	any trustee; 

  

	 	(vi)	any originator; 

  

	 	(vii)	any significant obligor; 

  

	 	(viii)	any enhancement or support provider, including any swap counterparty; and 

  

	 	(ix)	any other material transaction party. 

 In connection with the above-listed parties, a description of whether there is, and if so the general character of, any business relationship, agreement, arrangement, transaction or understanding that is
entered into outside the ordinary course of business or is on terms other than would be obtained in an arm’s length transaction with an unrelated third party, apart from the asset-backed securities transaction, that currently exists or that
existed during the past two years and that is material to an investor’s understanding of the asset-backed securities. 

  
 62 

 Section 12.04 Regulation AB Reports by Indenture Trustee. For so long as the
Issuing Entity is required to report under the Exchange Act, the Indenture Trustee will, on or before March 1 of each year, beginning March 1, 2014: 
 (i) deliver to the Depositor a report regarding the Indenture Trustee’s assessment of compliance with the Servicing Criteria specified in Exhibit C during the immediately preceding
calendar year, as required under paragraph (b) of Rule 13a-18, Rule 15d-18 of the Exchange Act and Item 1122 of Regulation AB. Such report shall be signed by an authorized officer of the Indenture trustee, and shall address each of the
Servicing Criteria specified in Exhibit C or such criteria as mutually agreed upon by the Depositor and the Indenture Trustee. 
 (ii) deliver to the Depositor a report of a registered public accounting firm that attests to, and reports on, the assessment of compliance made by the Indenture Trustee and delivered pursuant to the
preceding paragraph. Such attestation shall be in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the Exchange Act. 
 (iii) deliver to the Depositor and any other Person that will be responsible for signing the certification (a “Sarbanes Certification”) required by Rules 13a-14(d) and 15d-14(d) under the
Exchange Act (pursuant to Section 302 of the Sarbanes-Oxley Act of 2002) on behalf of the Issuing Entity or the Depositor substantially in the form attached hereto as Exhibit D or such form as mutually agreed upon by the Depositor and
the Indenture Trustee. 

  
 63 

 IN WITNESS WHEREOF, the Issuing Entity and the Indenture Trustee have caused this Indenture
to be duly executed by their respective officers, thereunto duly authorized and duly attested, all as of the day and year first above written. 
  

			
	WORLD OMNI AUTO RECEIVABLES TRUST 2013-A,
		
	By:	 	U.S. BANK TRUST NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee
		
	By:	 	/s/ Patricia M. Child
	Name:	 	Patricia M. Child
	Title:	 	Vice President
	
	DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity but solely as Indenture Trustee
		
	By:	 	/s/ Irene Siegel
	Name:	 	Irene Siegel
	Title:	 	Vice President
		
	By:	 	/s/ Maria Inoa
	Name:	 	Maria Inoa 
	Title:	 	Assistant Vice President

 SCHEDULE A 
 Schedule of Receivables 
 Provided to the Indenture Trustee and
Owner Trustee at Closing 

  
 Sch. A

 EXHIBIT A-1  
 [FORM OF CLASS A-1 NOTE] 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUING ENTITY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE PRINCIPAL
OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 

 

			
	 REGISTERED
	  	$                          
  
		
	 No.:             
	  	CUSIP No.:                     
		
		  	ISIN No.:                     
		
		  	CINS No.:                     

 WORLD OMNI AUTO RECEIVABLES TRUST 2013-A 

CLASS A-1 0.23000% ASSET-BACKED NOTES 
 WORLD OMNI AUTO RECEIVABLES TRUST 2013-A, a statutory trust organized and existing under the laws of the State of Delaware (herein referred to as the “Issuing Entity”), for value
received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of             DOLLARS payable on each Payment Date in an amount equal to the result
obtained by multiplying (i) a fraction the numerator of which is $            and the denominator of which is $245,000,000 by (ii) the aggregate amount, if any, payable from the
Note Distribution Account in respect of principal on the Class A-1 Notes pursuant to Section 3.01 of the Indenture dated as of May 29, 2013 (the “Indenture”), between the Issuing Entity and Deutsche Bank Trust
Company Americas, as Indenture Trustee (the “Indenture Trustee”); provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the earlier of the June 2014 Payment Date (the
“Class A-1 Final Scheduled Payment Date”) and the Redemption Date, if any, pursuant to Section 10.01 of the Indenture. Capitalized terms used but not defined herein are defined in Article I of the
Indenture, which also contains rules as to construction that shall be applicable herein. 

  
 Ex. A-1-1

 BY ACQUIRING A CLASS A-1 NOTE, EACH INITIAL PURCHASER, TRANSFEREE AND OWNER OF A BENEFICIAL
INTEREST IN SUCH NOTE WILL BE DEEMED TO REPRESENT THAT EITHER (1) IT IS NOT ACQUIRING THE NOTES WITH THE ASSETS OF (i) AN EMPLOYEE BENEFIT PLAN SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”), (ii) A PLAN SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), (iii) ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN’S INVESTMENT IN THE
ENTITY OR (iv) ANY PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE PROHIBITED TRANSACTION PROVISIONS OF ERISA OR SECTION 4975 OF THE CODE (“SIMILAR LAW”) OR (2) THE
ACQUISITION AND HOLDING OF THE CLASS A-1 NOTES WILL NOT GIVE RISE TO A NONEXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR SIMILAR LAW. 
 The Issuing Entity will pay interest on this Note at the rate per annum shown above on each Payment Date until the principal of this Note is paid or made available for payment, on the principal amount of
this Note outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01 of the Indenture.
Interest on this Note will accrue for each Payment Date from and including the most recent Payment Date on which interest has been paid (in the case of the initial Payment Date, from the Closing Date) to but excluding such current Payment Date.
Interest will be computed on the basis of the actual number of days in the Interest Accrual Period divided by 360. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment
is legal tender for payment of public and private debts. All payments made by the Issuing Entity with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this
Note. 
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same
effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed
by the Indenture Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose. 

  
 Ex. A-1-2

 IN WITNESS WHEREOF, the Issuing Entity has caused this instrument to be signed, manually or
in facsimile, by its Authorized Officer, as of the date set forth below. 
  

									
	
Date:                       
          
	 		 	WORLD OMNI AUTO RECEIVABLES TRUST 2013-A
				
		 		 	 By:
	 	U.S. BANK TRUST NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee
				
		 		 	 By:
	 	 
		 		 		 	 Name:

		 		 		 	 Title:

	
	INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	This is one of the Notes designated above and referred to in the within-mentioned Indenture.
			
	Date:                             
    	 		 	DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity but solely as Indenture Trustee
					
		 		 		 	 By:
	 	 
		 		 		 	 Name:
	 	
		 		 		 	 Title:
	 	

  
 Ex. A-1-3

 This Note is one of a duly authorized issue of Notes of the Issuing Entity, designated as
its Class A-1 0.23000% Asset-Backed Notes (herein called the “Class A-1 Notes”), all issued under the Indenture, to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the
respective rights and obligations thereunder of the Issuing Entity, the Indenture Trustee and the Holders of the Notes. The Class A-1 Notes are subject to all terms of the Indenture. 

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes
(collectively, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture and subject to the subordination provisions set forth therein. 

Principal of the Class A-1 Notes will be payable on each Payment Date and, if the Class A-1 Notes have not been paid in full
prior to the Class A-1 Final Scheduled Payment Date, on the Class A-1 Final Scheduled Payment Date, in an amount described on the face hereof. “Payment Date” means the fifteenth day of each month or, if such day is not a
Business Day, the immediately following Business Day. The initial Payment Date will be June 17, 2013. 
 As described
above, the entire unpaid principal amount of this Note shall be due and payable on the Class A-1 Final Scheduled Payment Date. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable on the date
on which an Event of Default shall have occurred and be continuing and the Indenture Trustee or the Holders of Notes representing not less than 50% of the Outstanding Amount of the Controlling Securities have declared the Notes to be immediately due
and payable in the manner provided in Section 5.02 of the Indenture. All principal payments on the Class A-1 Notes shall be made pro rata to the Class A-1 Noteholders entitled thereto. 

Payments of interest on this Note due and payable on each Payment Date, together with the installment of principal, if any, to the extent
not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Registered Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except
that with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account
designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of
payment. Any reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Payment Date shall be binding upon all future Holders of this Note and of any Note issued upon the registration
of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a Payment
Date or, if applicable, the Class A-1 Final Scheduled Payment Date, then the Indenture Trustee, in the name of and on behalf of the Issuing Entity, will notify the Person who was the Registered Holder hereof as of the Record Date preceding such
Payment Date or the Class A-1 Final Scheduled Payment Date, as applicable, by notice mailed or transmitted by facsimile prior to such Payment Date or the 

  
 Ex. A-1-4

 
Class A-1 Final Scheduled Payment Date, as applicable, and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Indenture Trustee’s
principal Corporate Trust Office or at the office of the Indenture Trustee’s agent appointed for such purposes located in the City of New York. 
 The Issuing Entity shall pay interest on overdue installments of interest at the Class A-1 Interest Rate to the extent lawful. 

As provided in the Indenture and subject to the limitations set forth therein and on the face hereof, the transfer of this Note may be
registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuing Entity pursuant to the Indenture, duly endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Indenture Trustee duly executed by, the Holder hereof or such Holder’s attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Note
Registrar, which requirements include membership or participation in the Securities Transfer Agent’s Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar
in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended, and thereupon one or more new Notes of authorized denominations and in the same aggregate principal amount will be issued to the
designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be
imposed in connection with any such registration of transfer or exchange. 
 Each Noteholder or Note Owner, by acceptance of a
Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and agrees that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing Entity, the Owner Trustee or the Indenture Trustee on
the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (i) the Indenture Trustee or the Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the
Issuing Entity or (iii) any partner, owner, beneficiary, agent, officer, director or employee of the Indenture Trustee or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuing Entity, the Owner Trustee
or the Indenture Trustee or of any successor or assign of the Indenture Trustee or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed and except that any such partner, owner or beneficiary shall be
fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. 

Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and
agrees by accepting the benefits of the Indenture that such Noteholder or Note Owner will not at any time institute against the Depositor, World Omni or the Issuing Entity, or join in any institution against the Depositor, World Omni or the Issuing
Entity of, any involuntary bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under any United States federal or state bankruptcy or similar law in connection with any obligations relating to the Notes, the Indenture or
the Basic Documents. 

  
 Ex. A-1-5

 The Issuing Entity has entered into the Indenture and this Note is issued with the intention
that, for federal, state and local income and franchise tax purposes, the Notes will qualify as indebtedness secured by the Trust Estate. Each Noteholder, by acceptance of a Note (and each Note Owner by acceptance of a beneficial interest in a
Note), agrees to treat the Notes for federal, state and local income and franchise tax purposes as indebtedness of the Issuing Entity. 
 Prior to the due presentment for registration of transfer of this Note, the Issuing Entity, the Indenture Trustee and any agent of the Issuing Entity or the Indenture Trustee may treat the Person in whose
name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Note be overdue, and none of the Issuing Entity, the Indenture
Trustee or any such agent shall be affected by notice to the contrary. 
 The Indenture permits, with certain exceptions as
therein provided, the amendment thereof and the modification of the rights and obligations of the Issuing Entity and the rights of the Holders of the Notes under the Indenture at any time by the Issuing Entity with the consent of the Holders of
Notes representing a majority of the Outstanding Amount of all Notes at the time Outstanding. The Indenture also contains provisions permitting the Holders of Notes representing specified percentages of the Outstanding Amount of the Controlling
Securities, on behalf of the Holders of all the Notes, to waive compliance by the Issuing Entity with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder
of this Note (or any one or more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof
whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Indenture Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued
thereunder. 
 The term “Issuing Entity” as used in this Note includes any successor to the Issuing Entity
under the Indenture. 
 The Issuing Entity is permitted by the Indenture, under certain circumstances, to merge or consolidate,
subject to the rights of the Indenture Trustee and the Holders of Notes under the Indenture. 
 The Notes are issuable only in
registered form in denominations as provided in the Indenture, subject to certain limitations therein set forth. 
 This Note
and the Indenture 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 and thereunder shall be determined
in accordance with such laws. 

  
 Ex. A-1-6

 No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Issuing Entity, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency herein prescribed. 

Anything herein to the contrary notwithstanding, except as expressly provided in the Basic Documents, none of Deutsche Bank Trust Company
Americas in its individual capacity, U.S. Bank Trust National Association in its individual capacity, any owner of a beneficial interest in the Issuing Entity, or any of their respective partners, beneficiaries, agents, officers, directors,
employees or successors or assigns shall be personally liable for, nor shall recourse be had to any of them for, the payment of principal of or interest on this Note or performance of, or failure to perform, any of the covenants, obligations or
indemnifications contained in the Indenture. The Holder of this Note by its acceptance hereof agrees that, except as expressly provided in the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim
against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuing Entity for any and all
liabilities, obligations and undertakings contained in the Indenture or in this Note. 

  
 Ex. A-1-7

 ASSIGNMENT 

 

	
	Social Security or taxpayer I.D. or other identifying number of
assignee:                                       
                                         
                                       

  

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

                         
                                         
                                         
                                     (name and address of
assignee) 
 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints
                                         
           , attorney, transfer said Note on the books kept for registration thereof, with full power of substitution in the premises. 

 

			
	Dated:                            
                	  	                             
                                         
          *
	
	Signature Guaranteed:
                                         
   
	
	                         
                                         
              *

  
  

 

	*	NOTICE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without
alteration, enlargement or any change whatever. Such signature must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar, which requirements include membership or participation in STAMP or
such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

  
 Ex. A-1-8

 EXHIBIT A-2  
 [FORM OF CLASS A-2 NOTE] 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUING ENTITY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE PRINCIPAL
OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 

 

					
		
	REGISTERED	  	 	$                     	  
		
	No.: ___	  	 	CUSIP No.:                     	  
		
		  	 	ISIN No.:                     	  
		
		  	 	CINS No.:                     	 

 WORLD OMNI AUTO RECEIVABLES TRUST 2013-A 

CLASS A-2 0.43% ASSET-BACKED NOTES 
 WORLD OMNI AUTO RECEIVABLES TRUST 2013-A, a statutory trust organized and existing under the laws of the State of Delaware (herein referred to as the “Issuing Entity”), for value
received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of             DOLLARS payable on each Payment Date in an amount equal to the result
obtained by multiplying (i) a fraction the numerator of which is $            and the denominator of which is $275,000,000 by (ii) the aggregate amount, if any, payable from the
Note Distribution Account in respect of principal on the Class A-2 Notes pursuant to Section 3.01 of the Indenture dated as of May 29, 2013 (the “Indenture”), between the Issuing Entity and Deutsche Bank Trust
Company Americas, as Indenture Trustee (the “Indenture Trustee”); provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the earlier of the May 2016 Payment Date (the
“Class A-2 Final Scheduled Payment Date”) and the Redemption Date, if any, pursuant to Section 10.01 of the Indenture. Generally, no payments of principal of the Class A-2 Notes shall be made until the
Class A-1 Notes have been paid in full. Capitalized terms used but not defined herein are defined in Article I of the Indenture, which also contains rules as to construction that shall be applicable herein. 

  
 Ex. A-2-1

 BY ACQUIRING A CLASS A-2 NOTE, EACH INITIAL PURCHASER, TRANSFEREE AND OWNER OF A BENEFICIAL
INTEREST IN SUCH NOTE WILL BE DEEMED TO REPRESENT THAT EITHER (1) IT IS NOT ACQUIRING THE NOTES WITH THE ASSETS OF (i) AN EMPLOYEE BENEFIT PLAN SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”), (ii) A PLAN SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), (iii) ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN’S INVESTMENT IN THE
ENTITY OR (iv) ANY PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE PROHIBITED TRANSACTION PROVISIONS OF ERISA OR SECTION 4975 OF THE CODE (“SIMILAR LAW”) OR (2) THE
ACQUISITION AND HOLDING OF THE CLASS A-2 NOTES WILL NOT GIVE RISE TO A NONEXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR SIMILAR LAW. 
 The Issuing Entity will pay interest on this Note at the rate per annum shown above on each Payment Date until the principal of this Note is paid or made available for payment, on the principal amount of
this Note outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01 of the Indenture.
Interest on this Note will accrue for each Payment Date from and including the 15th day of the preceding calendar month (or, for the initial interest accrual period, from and including the Closing Date) to but excluding the 15th day of the current
calendar month. Interest will be computed on the basis of a 360-day year of twelve 30-day months. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment
is legal tender for payment of public and private debts. All payments made by the Issuing Entity with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this
Note. 
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same
effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed
by the Indenture Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose. 

  
 Ex. A-2-2

 IN WITNESS WHEREOF, the Issuing Entity has caused this instrument to be signed, manually or
in facsimile, by its Authorized Officer, as of the date set forth below. 
  

							
	Date:            	 		 	WORLD OMNI AUTO RECEIVABLES TRUST 2013-A
			
		 		 	By: U.S. BANK TRUST NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee
				
		 		 	By:	 	 
		 		 		 	Name:
		 		 		 	Title:

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

									
	Date:             	 		 	             DEUTSCHE BANK TRUST COMPANY

            AMERICAS, not in its individual capacity but

            solely as Indenture Trustee

					
		 		 		 	By:	 	 
		 		 		 	Name:	 	
		 		 		 	Title:	 	

  
 Ex. A-2-3

 This Note is one of a duly authorized issue of Notes of the Issuing Entity, designated as
its Class A-2 0.43% Asset-Backed Notes (herein called the “Class A-2 Notes”), all issued under the Indenture, to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the
respective rights and obligations thereunder of the Issuing Entity, the Indenture Trustee and the Holders of the Notes. The Class A-2 Notes are subject to all terms of the Indenture. 

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes
(collectively, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture and subject to the subordination provisions therein. 

Principal of the Class A-2 Notes will be payable on each Payment Date in an amount described on the face hereof. “Payment
Date” means the fifteenth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing June 17, 2013. 
 As described above, the entire unpaid principal amount of this Note shall be due and payable on the Class A-2 Final Scheduled Payment Date. Notwithstanding the foregoing, the entire unpaid principal
amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Indenture Trustee or the Holders of Notes representing not less than 50% of the Outstanding Amount of the Controlling
Securities have declared the Notes to be immediately due and payable in the manner provided in Section 5.02 of the Indenture. All principal payments on the Class A-2 Notes shall be made pro rata to the Class A-2 Noteholders
entitled thereto. 
 Payments of interest on this Note due and payable on each Payment Date, together with the installment of
principal, if any, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Registered Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of
business on each Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in
immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring
that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Payment Date shall be binding upon all future Holders of this Note
and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for payment in full of the then remaining
unpaid principal amount of this Note on a Payment Date, then the Indenture Trustee, in the name of and on behalf of the Issuing Entity, will notify the Person who was the Registered Holder hereof as of the Record Date preceding such Payment Date by
notice mailed or transmitted by facsimile prior to such Payment Date, and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Indenture Trustee’s principal Corporate Trust Office or at the
office of the Indenture Trustee’s agent appointed for such purposes located in the City of New York. 

  
 Ex. A-2-4

 The Issuing Entity shall pay interest on overdue installments of interest at the
Class A-2 Interest Rate to the extent lawful. 
 As provided in the Indenture and subject to certain limitations set forth
therein, the transfer of this Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuing Entity pursuant to the Indenture, duly endorsed by, or accompanied
by a written instrument of transfer in form satisfactory to the Indenture Trustee duly executed by, the Holder hereof or such Holder’s attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor
institution” meeting the requirements of the Note Registrar, which requirements include membership or participation in the Securities Transfer Agent’s Medallion Program (“STAMP”) or such other “signature guarantee
program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended, and thereupon one or more new Notes of authorized denominations and in
the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient
to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange. 
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and agrees that no recourse may be taken, directly or indirectly, with
respect to the obligations of the Issuing Entity, the Owner Trustee or the Indenture Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (i) the Indenture Trustee or the
Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuing Entity or (iii) any partner, owner, beneficiary, agent, officer, director or employee of the Indenture Trustee or the Owner Trustee in its
individual capacity, any holder of a beneficial interest in the Issuing Entity, the Owner Trustee or the Indenture Trustee or of any successor or assign of the Indenture Trustee or the Owner Trustee in its individual capacity, except as any such
Person may have expressly agreed and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any
installment or call owing to such entity. 
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note
Owner, a beneficial interest in a Note, covenants and agrees by accepting the benefits of the Indenture that such Noteholder or Note Owner will not at any time institute against the Depositor, World Omni or the Issuing Entity, or join in any
institution against the Depositor, World Omni or the Issuing Entity of, any involuntary bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under any United States federal or state bankruptcy or similar law in connection
with any obligations relating to the Notes, the Indenture or the Basic Documents. 

  
 Ex. A-2-5

 The Issuing Entity has entered into the Indenture and this Note is issued with the intention
that, for federal, state and local income, single business and franchise tax purposes, the Notes will qualify as indebtedness secured by the Trust Estate. Each Noteholder, by acceptance of a Note (and each Note Owner by acceptance of a beneficial
interest in a Note), agrees to treat the Notes for federal, state and local income, single business and franchise tax purposes as indebtedness of the Issuing Entity. 
 Prior to the due presentment for registration of transfer of this Note, the Issuing Entity, the Indenture Trustee and any agent of the Issuing Entity or the Indenture Trustee may treat the Person in whose
name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Note be overdue, and none of the Issuing Entity, the Indenture
Trustee or any such agent shall be affected by notice to the contrary. 
 The Indenture permits, with certain exceptions as
therein provided, the amendment thereof and the modification of the rights and obligations of the Issuing Entity and the rights of the Holders of the Notes under the Indenture at any time by the Issuing Entity with the consent of the Holders of
Notes representing a majority of the Outstanding Amount of all Notes at the time Outstanding. The Indenture also contains provisions permitting the Holders of Notes representing specified percentages of the Outstanding Amount of the Controlling
Securities, on behalf of the Holders of all the Notes, to waive compliance by the Issuing Entity with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder
of this Note (or any one or more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof
whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Indenture Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued
thereunder. 
 The term “Issuing Entity” as used in this Note includes any successor to the Issuing Entity
under the Indenture. 
 The Issuing Entity is permitted by the Indenture, under certain circumstances, to merge or consolidate,
subject to the rights of the Indenture Trustee and the Holders of Notes under the Indenture. 
 The Notes are issuable only in
registered form in denominations as provided in the Indenture, subject to certain limitations therein set forth. 
 This Note
and the Indenture 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 and thereunder shall be determined
in accordance with such laws. 
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Issuing Entity, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency herein prescribed. 

  
 Ex. A-2-6

 Anything herein to the contrary notwithstanding, except as expressly provided in the Basic
Documents, none of U.S. Bank Trust National Association in its individual capacity, Deutsche Bank Trust Company Americas in its individual capacity, any owner of a beneficial interest in the Issuing Entity, or any of their respective partners,
beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable for, nor shall recourse be had to any of them for, the payment of principal of or interest on this Note or performance of, or omission to
perform, any of the covenants, obligations or indemnifications contained in the Indenture. The Holder of this Note by its acceptance hereof agrees that, except as expressly provided in the Basic Documents, in the case of an Event of Default under
the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against,
the assets of the Issuing Entity for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 

  
 Ex. A-2-7

 ASSIGNMENT 

 

	
	Social Security or taxpayer I.D. or other identifying number of
assignee:                                       
                                         
                                       

  

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

                         
                                         
                                         
                                 (name and address of assignee) 

the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints
                                         
                   , attorney, transfer said Note on the books kept for registration thereof, with full power of substitution in the premises.

  

									
	Dated: 	  	 	  		  	 	  	*
				
		  		  	Signature Guaranteed:	  	
					
		  		  	 	  	 	  	*

  
  

	*	NOTICE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without
alteration, enlargement or any change whatever. Such signature must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar, which requirements include membership or participation in STAMP or
such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

  
 Ex. A-2-8

 EXHIBIT A-3 
 [FORM OF CLASS A-3 NOTE] 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUING ENTITY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE PRINCIPAL
OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 

 

					
		
	REGISTERED	  	 	$                     	  
		
	No.: ___	  	 	CUSIP No.:                     	  
		
		  	 	ISIN No.:                     	  
		
		  	 	CINS No.:                     	 

 WORLD OMNI AUTO RECEIVABLES TRUST 2013-A 

CLASS A-3 0.64% ASSET-BACKED NOTES 
 WORLD OMNI AUTO RECEIVABLES TRUST 2013-A, a statutory trust organized and existing under the laws of the State of Delaware (herein referred to as the “Issuing Entity”), for value
received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of             DOLLARS payable on each Payment Date in an amount equal to the result
obtained by multiplying (i) a fraction the numerator of which is $            and the denominator of which is $270,000,000 by (ii) the aggregate amount, if any, payable from the
Note Distribution Account in respect of principal on the Class A-3 Notes pursuant to Section 3.01 of the Indenture dated as of May 29, 2013 (the “Indenture”), between the Issuing Entity and Deutsche Bank Trust
Company Americas, as Indenture Trustee (the “Indenture Trustee”); provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the earlier of the April 2018 Payment Date (the
“Class A-3 Final Scheduled Payment Date”) and the Redemption Date, if any, pursuant to Section 10.01 of the Indenture. Generally, no payments of principal of the Class A-3 Notes shall be made until the
Class A-1 and Class A-2 Notes have been paid in full. Capitalized terms used but not defined herein are defined in Article I of the Indenture, which also contains rules as to construction that shall be applicable herein.

  
 Ex. A-3-1

 BY ACQUIRING A CLASS A-3 NOTE, EACH INITIAL PURCHASER, TRANSFEREE AND OWNER OF A BENEFICIAL
INTEREST IN SUCH NOTE WILL BE DEEMED TO REPRESENT THAT EITHER (1) IT IS NOT ACQUIRING THE NOTES WITH THE ASSETS OF (i) AN EMPLOYEE BENEFIT PLAN SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”), (ii) A PLAN SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), (iii) ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN’S INVESTMENT IN THE
ENTITY OR (iv) ANY PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE PROHIBITED TRANSACTION PROVISIONS OF ERISA OR SECTION 4975 OF THE CODE (“SIMILAR LAW”) OR (2) THE
ACQUISITION AND HOLDING OF THE CLASS A-3 NOTES WILL NOT GIVE RISE TO A NONEXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR SIMILAR LAW. 
 The Issuing Entity will pay interest on this Note at the rate per annum shown above on each Payment Date until the principal of this Note is paid or made available for payment, on the principal amount of
this Note outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01 of the Indenture.
Interest on this Note will accrue for each Payment Date from and including the 15th day of the preceding calendar month (or, for the initial interest accrual period, from and including the Closing Date) to but excluding the 15th day of the current
calendar month. Interest will be computed on the basis of a 360-day year of twelve 30-day months. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment
is legal tender for payment of public and private debts. All payments made by the Issuing Entity with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this
Note. 
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same
effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed
by the Indenture Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose. 

  
 Ex. A-3-2

 IN WITNESS WHEREOF, the Issuing Entity has caused this instrument to be signed, manually or
in facsimile, by its Authorized Officer, as of the date set forth below. 
  

							
	Date:                     	 		 	WORLD OMNI AUTO RECEIVABLES TRUST 2013-A
			
		 		 	By: U.S. BANK TRUST NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee
				
		 		 	By:	 	 
		 		 		 	Name:
		 		 		 	Title:

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

							
	Date:                     	 		 	 DEUTSCHE BANK TRUST COMPANY AMERICAS,
 not in its individual capacity but solely as Indenture Trustee

				
		 		 	    By:	 	 
		 		 	    Name:	 	
		 		 	    Title:	 	

  
 Ex. A-3-3

 This Note is one of a duly authorized issue of Notes of the Issuing Entity, designated as
its Class A-3 0.64% Asset-Backed Notes (herein called the “Class A-3 Notes”), all issued under the Indenture, to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the
respective rights and obligations thereunder of the Issuing Entity, the Indenture Trustee and the Holders of the Notes. The Class A-3 Notes are subject to all terms of the Indenture. 

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes
(collectively, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture and subject to the subordination provisions therein. 

Principal of the Class A-3 Notes will be payable on each Payment Date in an amount described on the face hereof. “Payment
Date” means the fifteenth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing June 17, 2013. 
 As described above, the entire unpaid principal amount of this Note shall be due and payable on the Class A-3 Final Scheduled Payment Date. Notwithstanding the foregoing, the entire unpaid principal
amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Indenture Trustee or the Holders of Notes representing not less than 50% of the Outstanding Amount of the Controlling
Securities have declared the Notes to be immediately due and payable in the manner provided in Section 5.02 of the Indenture. All principal payments on the Class A-3 Notes shall be made pro rata to the Class A-3 Noteholders
entitled thereto. 
 Payments of interest on this Note due and payable on each Payment Date, together with the installment of
principal, if any, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Registered Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of
business on each Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in
immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring
that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Payment Date shall be binding upon all future Holders of this Note
and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for payment in full of the then remaining
unpaid principal amount of this Note on a Payment Date, then the Indenture Trustee, in the name of and on behalf of the Issuing Entity, will notify the Person who was the Registered Holder hereof as of the Record Date preceding such Payment Date by
notice mailed or transmitted by facsimile prior to such Payment Date, and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Indenture Trustee’s principal Corporate Trust Office or at the
office of the Indenture Trustee’s agent appointed for such purposes located in the City of New York. 

  
 Ex. A-3-4

 The Issuing Entity shall pay interest on overdue installments of interest at the
Class A-3 Interest Rate to the extent lawful. 
 As provided in the Indenture and subject to certain limitations set forth
therein, the transfer of this Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuing Entity pursuant to the Indenture, duly endorsed by, or accompanied
by a written instrument of transfer in form satisfactory to the Indenture Trustee duly executed by, the Holder hereof or such Holder’s attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor
institution” meeting the requirements of the Note Registrar, which requirements include membership or participation in the Securities Transfer Agent’s Medallion Program (“STAMP”) or such other “signature guarantee
program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended, and thereupon one or more new Notes of authorized denominations and in
the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient
to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange. 
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and agrees that no recourse may be taken, directly or indirectly, with
respect to the obligations of the Issuing Entity, the Owner Trustee or the Indenture Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (i) the Indenture Trustee or the
Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuing Entity or (iii) any partner, owner, beneficiary, agent, officer, director or employee of the Indenture Trustee or the Owner Trustee in its
individual capacity, any holder of a beneficial interest in the Issuing Entity, the Owner Trustee or the Indenture Trustee or of any successor or assign of the Indenture Trustee or the Owner Trustee in its individual capacity, except as any such
Person may have expressly agreed and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any
installment or call owing to such entity. 
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note
Owner, a beneficial interest in a Note, covenants and agrees by accepting the benefits of the Indenture that such Noteholder or Note Owner will not at any time institute against the Depositor, World Omni or the Issuing Entity, or join in any
institution against the Depositor, World Omni or the Issuing Entity of, any involuntary bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under any United States federal or state bankruptcy or similar law in connection
with any obligations relating to the Notes, the Indenture or the Basic Documents. 

  
 Ex. A-3-5

 The Issuing Entity has entered into the Indenture and this Note is issued with the intention
that, for federal, state and local income, single business and franchise tax purposes, the Notes will qualify as indebtedness secured by the Trust Estate. Each Noteholder, by acceptance of a Note (and each Note Owner by acceptance of a beneficial
interest in a Note), agrees to treat the Notes for federal, state and local income, single business and franchise tax purposes as indebtedness of the Issuing Entity. 
 Prior to the due presentment for registration of transfer of this Note, the Issuing Entity, the Indenture Trustee and any agent of the Issuing Entity or the Indenture Trustee may treat the Person in whose
name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Note be overdue, and none of the Issuing Entity, the Indenture
Trustee or any such agent shall be affected by notice to the contrary. 
 The Indenture permits, with certain exceptions as
therein provided, the amendment thereof and the modification of the rights and obligations of the Issuing Entity and the rights of the Holders of the Notes under the Indenture at any time by the Issuing Entity with the consent of the Holders of
Notes representing a majority of the Outstanding Amount of all Notes at the time Outstanding. The Indenture also contains provisions permitting the Holders of Notes representing specified percentages of the Outstanding Amount of the Controlling
Securities, on behalf of the Holders of all the Notes, to waive compliance by the Issuing Entity with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder
of this Note (or any one or more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof
whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Indenture Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued
thereunder. 
 The term “Issuing Entity” as used in this Note includes any successor to the Issuing Entity under the
Indenture. 
 The Issuing Entity is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to
the rights of the Indenture Trustee and the Holders of Notes under the Indenture. 
 The Notes are issuable only in registered
form in denominations as provided in the Indenture, subject to certain limitations therein set forth. 
 This Note and the
Indenture 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 and thereunder shall be determined in
accordance with such laws. 
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter
or impair the obligation of the Issuing Entity, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency herein prescribed. 

  
 Ex. A-3-6

 Anything herein to the contrary notwithstanding, except as expressly provided in the Basic
Documents, none of U.S. Bank Trust National Association in its individual capacity, Deutsche Bank Trust Company Americas in its individual capacity, any owner of a beneficial interest in the Issuing Entity, or any of their respective partners,
beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable for, nor shall recourse be had to any of them for, the payment of principal of or interest on this Note or performance of, or omission to
perform, any of the covenants, obligations or indemnifications contained in the Indenture. The Holder of this Note by its acceptance hereof agrees that, except as expressly provided in the Basic Documents, in the case of an Event of Default under
the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against,
the assets of the Issuing Entity for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 

  
 Ex. A-3-7

 ASSIGNMENT 

 

	
	Social Security or taxpayer I.D. or other identifying number of
assignee:                                       
                                         
                                       

  

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

                         
                                         
                                         
                                     (name and address of
assignee) 
 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints
                                         
                    , attorney, transfer said Note on the books kept for registration thereof, with full power of substitution in the premises.

  

									
	Dated:	  	 	  		  	 	  	*
				
		  		  	Signature Guaranteed:	  	
					
		  		  	 	  	 	  	*

  
  

	*	NOTICE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without
alteration, enlargement or any change whatever. Such signature must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar, which requirements include membership or participation in STAMP or
such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

  
 Ex. A-3-8

 EXHIBIT A-4  
 [FORM OF CLASS A-4 NOTE] 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUING ENTITY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE PRINCIPAL
OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 

 

					
		
	REGISTERED	  	 	$                     	  
		
	No.: ___	  	 	CUSIP No.:                     	  
		
		  	 	ISIN No.:                     	  
		
		  	 	CINS No.:                     	 

 WORLD OMNI AUTO RECEIVABLES TRUST 2013-A 

CLASS A-4 0.87% ASSET-BACKED NOTES 
 WORLD OMNI AUTO RECEIVABLES TRUST 2013-A, a statutory trust organized and existing under the laws of the State of Delaware (herein referred to as the “Issuing Entity”), for value
received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of             DOLLARS payable on each Payment Date in an amount equal to the result
obtained by multiplying (i) a fraction the numerator of which is $            and the denominator of which is $94,934,000 by (ii) the aggregate amount, if any, payable from the
Note Distribution Account in respect of principal on the Class A-4 Notes pursuant to Section 3.01 of the Indenture dated as of May 29, 2013 (the “Indenture”), between the Issuing Entity and Deutsche Bank Trust
Company Americas, as Indenture Trustee (the “Indenture Trustee”); provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the earlier of the July 2019 Payment Date (the
“Class A-4 Final Scheduled Payment Date”) and the Redemption Date, if any, pursuant to Section 10.01 of the Indenture. Generally, no payments of principal of the Class A-4 Notes shall be made until the
Class A-1 Notes, Class A-2 Notes and Class A-3 Notes have been paid in full. Capitalized terms used but not defined herein are defined in Article I of the Indenture, which also contains rules as to construction that shall
be applicable herein. 

  
 Ex. A-4-1

 BY ACQUIRING A CLASS A NOTE, EACH INITIAL PURCHASER, TRANSFEREE AND OWNER OF A BENEFICIAL
INTEREST IN SUCH NOTE WILL BE DEEMED TO REPRESENT THAT EITHER (1) IT IS NOT ACQUIRING THE NOTES WITH THE ASSETS OF (i) AN EMPLOYEE BENEFIT PLAN SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”), (ii) A PLAN SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), (iii) ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN’S INVESTMENT IN THE
ENTITY OR (iv) ANY PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE PROHIBITED TRANSACTION PROVISIONS OF ERISA OR SECTION 4975 OF THE CODE (“SIMILAR LAW”) OR (2) THE
ACQUISITION AND HOLDING OF THE CLASS A NOTES WILL NOT GIVE RISE TO A NONEXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR SIMILAR LAW. 
 The Issuing Entity will pay interest on this Note at the rate per annum shown above on each Payment Date until the principal of this Note is paid or made available for payment, on the principal amount of
this Note outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01 of the Indenture.
Interest on this Note will accrue for each Payment Date from and including the 15th day of the preceding calendar month (or, for the initial interest accrual period, from and including the Closing Date) to but excluding the 15th day of the current
calendar month. Interest will be computed on the basis of a 360-day year of twelve 30-day months. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment
is legal tender for payment of public and private debts. All payments made by the Issuing Entity with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this
Note. 
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same
effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed
by the Indenture Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose. 

  
 Ex. A-4-2

 IN WITNESS WHEREOF, the Issuing Entity has caused this instrument to be signed, manually or
in facsimile, by its Authorized Officer, as of the date set forth below. 
  

							
	Date:             	 		 	WORLD OMNI AUTO RECEIVABLES TRUST 2013-A
			
		 		 	By: U.S. BANK TRUST NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee
				
		 		 	By:	 	 
		 		 		 	Name:
		 		 		 	Title:

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

							
	Date:             	 		 	 DEUTSCHE BANK TRUST COMPANY AMERICAS,
 not in its individual capacity but solely as Indenture Trustee

				
		 		 	    By:	 	 
		 		 	    Name:	 	
		 		 	    Title:	 	

  
 Ex. A-4-3

 This Note is one of a duly authorized issue of Notes of the Issuing Entity, designated as
its Class A-4 0.87% Asset-Backed Notes (herein called the “Class A-4 Notes”), all issued under the Indenture, to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the
respective rights and obligations thereunder of the Issuing Entity, the Indenture Trustee and the Holders of the Notes. The Class A-4 Notes are subject to all terms of the Indenture. 

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes
(collectively, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture and subject to the subordination provisions therein. 

Principal of the Class A-4 Notes will be payable on each Payment Date in an amount described on the face hereof. “Payment
Date” means the fifteenth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing June 17, 2013. 
 As described above, the entire unpaid principal amount of this Note shall be due and payable on the Class A-4 Final Scheduled Payment Date. Notwithstanding the foregoing, the entire unpaid principal
amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Indenture Trustee or the Holders of Notes representing not less than 50% of the Outstanding Amount of the Controlling
Securities have declared the Notes to be immediately due and payable in the manner provided in Section 5.02 of the Indenture. All principal payments on the Class A-4 Notes shall be made pro rata to the Class A-4 Noteholders
entitled thereto. 
 Payments of interest on this Note due and payable on each Payment Date, together with the installment of
principal, if any, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Registered Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of
business on each Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in
immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring
that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Payment Date shall be binding upon all future Holders of this Note
and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for payment in full of the then remaining
unpaid principal amount of this Note on a Payment Date, then the Indenture Trustee, in the name of and on behalf of the Issuing Entity, will notify the Person who was the Registered Holder hereof as of the Record Date preceding such Payment Date by
notice mailed or transmitted by facsimile prior to such Payment Date, and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Indenture Trustee’s principal Corporate Trust Office or at the
office of the Indenture Trustee’s agent appointed for such purposes located in the City of New York. 

  
 Ex. A-4-4

 The Issuing Entity shall pay interest on overdue installments of interest at the
Class A-4 Interest Rate to the extent lawful. 
 As provided in the Indenture and subject to certain limitations set forth
therein, the transfer of this Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuing Entity pursuant to the Indenture, duly endorsed by, or accompanied
by a written instrument of transfer in form satisfactory to the Indenture Trustee duly executed by, the Holder hereof or such Holder’s attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor
institution” meeting the requirements of the Note Registrar, which requirements include membership or participation in the Securities Transfer Agent’s Medallion Program (“STAMP”) or such other “signature guarantee
program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended, and thereupon one or more new Notes of authorized denominations and in
the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient
to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange. 
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and agrees that no recourse may be taken, directly or indirectly, with
respect to the obligations of the Issuing Entity, the Owner Trustee or the Indenture Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (i) the Indenture Trustee or the
Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuing Entity or (iii) any partner, owner, beneficiary, agent, officer, director or employee of the Indenture Trustee or the Owner Trustee in its
individual capacity, any holder of a beneficial interest in the Issuing Entity, the Owner Trustee or the Indenture Trustee or of any successor or assign of the Indenture Trustee or the Owner Trustee in its individual capacity, except as any such
Person may have expressly agreed and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any
installment or call owing to such entity. 
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note
Owner, a beneficial interest in a Note, covenants and agrees by accepting the benefits of the Indenture that such Noteholder or Note Owner will not at any time institute against the Depositor, World Omni or the Issuing Entity, or join in any
institution against the Depositor, World Omni or the Issuing Entity of, any involuntary bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under any United States federal or state bankruptcy or similar law in connection
with any obligations relating to the Notes, the Indenture or the Basic Documents. 

  
 Ex. A-4-5

 The Issuing Entity has entered into the Indenture and this Note is issued with the intention
that, for federal, state and local income, single business and franchise tax purposes, the Notes will qualify as indebtedness secured by the Trust Estate. Each Noteholder, by acceptance of a Note (and each Note Owner by acceptance of a beneficial
interest in a Note), agrees to treat the Notes for federal, state and local income, single business and franchise tax purposes as indebtedness of the Issuing Entity. 
 Prior to the due presentment for registration of transfer of this Note, the Issuing Entity, the Indenture Trustee and any agent of the Issuing Entity or the Indenture Trustee may treat the Person in whose
name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Note be overdue, and none of the Issuing Entity, the Indenture
Trustee or any such agent shall be affected by notice to the contrary. 
 The Indenture permits, with certain exceptions as
therein provided, the amendment thereof and the modification of the rights and obligations of the Issuing Entity and the rights of the Holders of the Notes under the Indenture at any time by the Issuing Entity with the consent of the Holders of
Notes representing a majority of the Outstanding Amount of all Notes at the time Outstanding. The Indenture also contains provisions permitting the Holders of Notes representing specified percentages of the Outstanding Amount of the Controlling
Securities, on behalf of the Holders of all the Notes, to waive compliance by the Issuing Entity with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder
of this Note (or any one or more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof
whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Indenture Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued
thereunder. 
 The term “Issuing Entity” as used in this Note includes any successor to the Issuing Entity under the
Indenture. 
 The Issuing Entity is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to
the rights of the Indenture Trustee and the Holders of Notes under the Indenture. 
 The Notes are issuable only in registered
form in denominations as provided in the Indenture, subject to certain limitations therein set forth. 
 This Note and the
Indenture 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 and thereunder shall be determined in
accordance with such laws. 
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter
or impair the obligation of the Issuing Entity, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency herein prescribed. 

  
 Ex. A-4-6

 Anything herein to the contrary notwithstanding, except as expressly provided in the Basic
Documents, none of U.S. Bank Trust National Association in its individual capacity, Deutsche Bank Trust Company Americas in its individual capacity, any owner of a beneficial interest in the Issuing Entity, or any of their respective partners,
beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable for, nor shall recourse be had to any of them for, the payment of principal of or interest on this Note or performance of, or omission to
perform, any of the covenants, obligations or indemnifications contained in the Indenture. The Holder of this Note by its acceptance hereof agrees that, except as expressly provided in the Basic Documents, in the case of an Event of Default under
the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against,
the assets of the Issuing Entity for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 

  
 Ex. A-4-7

 ASSIGNMENT 

 

	
	Social Security or taxpayer I.D. or other identifying number of
assignee:                                       
                                         
                                       

  

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

                         
                                         
                                         
                                     (name and address of
assignee) 
 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints
                                         
                   , attorney, transfer said Note on the books kept for registration thereof, with full power of substitution in the premises.

  

									
	Dated:	  	 	  		  	 	  	*
				
		  		  	Signature Guaranteed:	  	
					
		  		  	 	  	 	  	*

  
  

	*	NOTICE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without
alteration, enlargement or any change whatever. Such signature must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar, which requirements include membership or participation in STAMP or
such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

  
 Ex. A-4-8

 EXHIBIT B  
 [FORM OF CLASS B NOTE] 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUING ENTITY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE PRINCIPAL
OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 

 

					
		
	REGISTERED	  	 	$                     	  
		
	No.: ___	  	 	CUSIP No.:                     	  
		
		  	 	ISIN No.:                     	  
		
		  	 	CINS No.:                     	 

 WORLD OMNI AUTO RECEIVABLES TRUST 2013-A 

CLASS B 1.13% ASSET-BACKED NOTES 
 WORLD OMNI AUTO RECEIVABLES TRUST 2013-A, a statutory trust organized and existing under the laws of the State of Delaware (herein referred to as the “Issuing Entity”), for value
received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of             DOLLARS payable on each Payment Date in an amount equal to the result
obtained by multiplying (i) a fraction the numerator of which is $            and the denominator of which is $18,957,000 by (ii) the aggregate amount, if any, payable from the
Note Distribution Account in respect of principal on the Class B Notes pursuant to Section 3.01 of the Indenture dated as of May 29, 2013 (the “Indenture”), between the Issuing Entity and Deutsche Bank Trust
Company Americas, as Indenture Trustee (the “Indenture Trustee”); provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the earlier of the March 2020 Payment Date (the
“Class B Final Scheduled Payment Date”) and the Redemption Date, if any, pursuant to Section 10.01 of the Indenture. Generally, no payments of principal of the Class B Notes shall be made until the
Class A-1, Class A-2, Class A-3 and Class A-4 Notes have been paid in full. Capitalized terms used but not defined herein are defined in Article I of the Indenture, which also contains rules as to construction that
shall be applicable herein. 

  
 Ex. B-1

 BY ACQUIRING A CLASS B NOTE, EACH INITIAL PURCHASER, TRANSFEREE AND OWNER OF A BENEFICIAL
INTEREST IN SUCH NOTE WILL BE DEEMED TO REPRESENT THAT EITHER (1) IT IS NOT ACQUIRING THE NOTES WITH THE ASSETS OF (i) AN EMPLOYEE BENEFIT PLAN SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”), (ii) A PLAN SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), (iii) ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN’S INVESTMENT IN THE
ENTITY OR (iv) ANY PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE PROHIBITED TRANSACTION PROVISIONS OF ERISA OR SECTION 4975 OF THE CODE (“SIMILAR LAW”) OR (2) THE
ACQUISITION AND HOLDING OF THE CLASS B NOTES WILL NOT GIVE RISE TO A NONEXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR SIMILAR LAW. 
 The Issuing Entity will pay interest on this Note at the rate per annum shown above on each Payment Date until the principal of this Note is paid or made available for payment, on the principal amount of
this Note outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01 of the Indenture.
Interest on this Note will accrue for each Payment Date from and including the 15th day of the preceding calendar month (or, for the initial interest accrual period, from and including the Closing Date) to but excluding the 15th day of the current
calendar month. Interest will be computed on the basis of a 360-day year of twelve 30-day months. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment
is legal tender for payment of public and private debts. All payments made by the Issuing Entity with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this
Note. 
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same
effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed
by the Indenture Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose. 

  
 Ex. B-2

 IN WITNESS WHEREOF, the Issuing Entity has caused this instrument to be signed, manually or
in facsimile, by its Authorized Officer, as of the date set forth below. 
  

							
	Date:             	 		 	WORLD OMNI AUTO RECEIVABLES TRUST 2013-A
			
		 		 	By: U.S. BANK TRUST NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee
				
		 		 	By:	 	 
		 		 		 	Name:
		 		 		 	Title:

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

							
	Date:             	 		 	DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity but solely as Indenture Trustee
				
		 		 	    By:	 	 
		 		 	    Name:	 	
		 		 	    Title:	 	

  
 Ex. B-3

 This Note is one of a duly authorized issue of Notes of the Issuing Entity, designated as
its Class B 1.13% Asset-Backed Notes (herein called the “Class B Notes”), all issued under the Indenture, to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the
respective rights and obligations thereunder of the Issuing Entity, the Indenture Trustee and the Holders of the Notes. The Class B Notes are subject to all terms of the Indenture. 

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes
(collectively, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture and subject to the subordination provisions therein. 

Principal of the Class B Notes will be payable on each Payment Date in an amount described on the face hereof. “Payment
Date” means the fifteenth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing June 17, 2013. 
 As described above, the entire unpaid principal amount of this Note shall be due and payable on the Class B Final Scheduled Payment Date. Notwithstanding the foregoing, the entire unpaid principal
amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Indenture Trustee or the Holders of Notes representing not less than 50% of the Outstanding Amount of the Controlling
Securities have declared the Notes to be immediately due and payable in the manner provided in Section 5.02 of the Indenture. All principal payments on the Class B Notes shall be made pro rata to the Class B Noteholders
entitled thereto. 
 Payments of interest on this Note due and payable on each Payment Date, together with the installment of
principal, if any, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Registered Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of
business on each Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in
immediately available funds to the account designated by such person or nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without
requiring that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Payment Date shall be binding upon all future Holders of
this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for payment in full of the then
remaining unpaid principal amount of this Note on a Payment Date, then the Indenture Trustee, in the name of and on behalf of the Issuing Entity, will notify the Person who was the Registered Holder hereof as of the Record Date preceding such
Payment Date by notice mailed or transmitted by facsimile prior to such Payment Date, and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Indenture Trustee’s principal Corporate Trust
Office or at the office of the Indenture Trustee’s agent appointed for such purposes located in the City of New York. 

  
 Ex. B-4

 The Issuing Entity shall pay interest on overdue installments of interest at the
Class B Interest Rate to the extent lawful. 
 As provided in the Indenture and subject to certain limitations set forth
therein, the transfer of this Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuing Entity pursuant to the Indenture, duly endorsed by, or accompanied
by a written instrument of transfer in form satisfactory to the Indenture Trustee duly executed by, the Holder hereof or such Holder’s attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor
institution” meeting the requirements of the Note Registrar, which requirements include membership or participation in the Securities Transfer Agent’s Medallion Program (“STAMP”) or such other “signature guarantee
program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended, and thereupon one or more new Notes of authorized denominations and in
the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient
to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange. 
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and agrees that no recourse may be taken, directly or indirectly, with
respect to the obligations of the Issuing Entity, the Owner Trustee or the Indenture Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (i) the Indenture Trustee or the
Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuing Entity or (iii) any partner, owner, beneficiary, agent, officer, director or employee of the Indenture Trustee or the Owner Trustee in its
individual capacity, any holder of a beneficial interest in the Issuing Entity, the Owner Trustee or the Indenture Trustee or of any successor or assign of the Indenture Trustee or the Owner Trustee in its individual capacity, except as any such
Person may have expressly agreed and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any
installment or call owing to such entity. 
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note
Owner, a beneficial interest in a Note, covenants and agrees by accepting the benefits of the Indenture that such Noteholder or Note Owner will not at any time institute against the Depositor, World Omni or the Issuing Entity, or join in any
institution against the Depositor, World Omni or the Issuing Entity of, any involuntary bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under any United States federal or state bankruptcy or similar law in connection
with any obligations relating to the Notes, the Indenture or the Basic Documents. 

  
 Ex. B-5

 The Issuing Entity has entered into the Indenture and this Note is issued with the intention
that, for federal, state and local income, single business and franchise tax purposes, the Notes will qualify as indebtedness secured by the Trust Estate. Each Noteholder (other than World Omni Auto Receivables LLC and its affiliates), by acceptance
of a Note (and each Note Owner by acceptance of a beneficial interest in a Note), agrees to treat the Notes for federal, state and local income, single business and franchise tax purposes as indebtedness of the Issuing Entity. 

Prior to the due presentment for registration of transfer of this Note, the Issuing Entity, the Indenture Trustee and any agent of the
Issuing Entity or the Indenture Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not
this Note be overdue, and none of the Issuing Entity, the Indenture Trustee or any such agent shall be affected by notice to the contrary. 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuing Entity and the rights of the Holders of the
Notes under the Indenture at any time by the Issuing Entity with the consent of the Holders of Notes representing a majority of the Outstanding Amount of all Notes at the time Outstanding. The Indenture also contains provisions permitting the
Holders of Notes representing specified percentages of the Outstanding Amount of the Controlling Securities, on behalf of the Holders of all the Notes, to waive compliance by the Issuing Entity with certain provisions of the Indenture and certain
past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one or more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of
any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Indenture Trustee to amend or waive certain
terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued thereunder. 
 The term
“Issuing Entity” as used in this Note includes any successor to the Issuing Entity under the Indenture. 
 The
Issuing Entity is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Indenture Trustee and the Holders of Notes under the Indenture. 

The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to certain limitations therein set
forth. 
 This Note and the Indenture 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 and thereunder shall be determined in accordance with such laws. 
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuing Entity, which is absolute and unconditional, to pay the principal
of and interest on this Note at the times, place and rate, and in the coin or currency herein prescribed. 

  
 Ex. B-6

 Anything herein to the contrary notwithstanding, except as expressly provided in the Basic
Documents, none of U.S. Bank Trust National Association in its individual capacity, Deutsche Bank Trust Company Americas in its individual capacity, any owner of a beneficial interest in the Issuing Entity, or any of their respective partners,
beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable for, nor shall recourse be had to any of them for, the payment of principal of or interest on this Note or performance of, or omission to
perform, any of the covenants, obligations or indemnifications contained in the Indenture. The Holder of this Note by its acceptance hereof agrees that, except as expressly provided in the Basic Documents, in the case of an Event of Default under
the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against,
the assets of the Issuing Entity for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 

  
 Ex. B-7

 ASSIGNMENT 

 

	
	Social Security or taxpayer I.D. or other identifying number of
assignee:                                       
                                         
                                       

  

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

                         
                                         
                                         
                                     (name and address of
assignee) 
 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints
                                         
                   , attorney, transfer said Note on the books kept for registration thereof, with full power of substitution in the premises.

  

									
	Dated:	  	 	  		  	 	  	*
				
		  		  	Signature Guaranteed:	  	
					
		  		  	 	  	 	  	*

  
  

	*	NOTICE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without
alteration, enlargement or any change whatever. Such signature must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar, which requirements include membership or participation in STAMP or
such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

  
 Ex. B-8

 EXHIBIT C 
 SERVICING CRITERIA FOR INDENTURE TRUSTEE’S ASSESSMENT OF COMPLIANCE 
  

					
	 Reference
	  	 Servicing Criteria
	  	 
			
		  	General Servicing Considerations	  	
			
	1122(d)(1)(i)	  	Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements.	  	
			
	1122(d)(1)(ii)	  	If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such
servicing activities.	  	
			
	1122(d)(1)(iii)	  	Any requirements in the transaction agreements to maintain a back-up servicer for the credit card accounts or accounts are maintained.	  	
			
	1122(d)(1)(iv)	  	A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required
by and otherwise in accordance with the terms of the transaction agreements.	  	
			
		  	Cash Collection and Administration	  	
			
	1122(d)(2)(i)	  	Payments on pool assets are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other
number of days specified in the transaction agreements.	  	
			
	1122(d)(2)(ii)	  	Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.	  	Trustee
			
	1122(d)(2)(iii)	  	Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as
specified in the transaction agreements.	  	
			
	1122(d)(2)(iv)	  	The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to
commingling of cash) as set forth in the transaction agreements.	  	Trustee
			
	1122(d)(2)(v)	  	Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally
insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act.	  	Trustee
			
	1122(d)(2)(vi)	  	Unissued checks are safeguarded so as to prevent unauthorized access.	  	
			
	1122(d)(2)(vii)	  	Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These
reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the
person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction
agreements.	  	
			
		  	Investor Remittances and Reporting	  	
			
	1122(d)(3)(i)	  	Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements.
Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed
with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of credit card accounts serviced by the Servicer.	  	

  
 Ex. C-1

					
	 Reference
	  	 Servicing Criteria
	  	 
			
	1122(d)(3)(ii)	  	Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements.	  	Trustee
			
	1122(d)(3)(iii)	  	Disbursements made to an investor are posted within two business days to the Servicer’s investor records, or such other number of days specified in the transaction
agreements.	  	Trustee
			
	1122(d)(3)(iv)	  	Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.	  	Trustee
			
		  	Pool Asset Administration	  	
			
	1122(d)(4)(i)	  	Collateral or security on credit card accounts is maintained as required by the transaction agreements or related asset pool documents.	  	
			
	1122(d)(4)(ii)	  	Pool assets and related documents are safeguarded as required by the transaction agreements	  	
			
	1122(d)(4)(iii)	  	Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction
agreements.	  	
			
	1122(d)(4)(iv)	  	Payments on pool assets, including any payoffs, made in accordance with the related pool assets documents are posted to the Servicer’s obligor records maintained no more than
two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related asset pool documents.	  	
			
	1122(d)(4)(v)	  	The Servicer’s records regarding the accounts and the accounts agree with the Servicer’s records with respect to an obligor’s unpaid principal balance.	  	
			
	1122(d)(4)(vi)	  	Changes with respect to the terms or status of an obligor’s account (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in
accordance with the transaction agreements and related pool asset documents.	  	
			
	1122(d)(4)(vii)	  	Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted
and concluded in accordance with the timeframes or other requirements established by the transaction agreements.	  	
			
	1122(d)(4)(viii)	  	Records documenting collection efforts are maintained during the period a Account is delinquent in accordance with the transaction agreements. Such records are maintained on at
least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent Accounts including, for example, phone calls, letters and payment rescheduling plans in cases
where delinquency is deemed temporary (e.g., illness or unemployment).	  	
			
	1122(d)(4)(ix)	  	Adjustments to interest rates or rates of return for Accounts with variable rates are computed based on the related Account documents.	  	
			
	1122(d)(4)(x)	  	Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s Account documents, on at least an
annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable Account documents and state laws; and (C) such funds are returned to the obligor
within 30 calendar days of full repayment of the related Accounts, or such other number of days specified in the transaction agreements.	  	
			
	1122(d)(4)(xi)	  	Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or
notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.	  	
			
	1122(d)(4)(xii)	  	Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late
payment was due to the obligor’s error or omission.	  	

  
 Ex. C-2

					
	 Reference
	  	 Servicing Criteria
	  	 
			
	1122(d)(4)(xiii)	  	Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in
the transaction agreements.	  	
			
	1122(d)(4)(xiv)	  	Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.	  	
			
	1122(d)(4)(xv)	  	Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction
agreements.	  	

  
 Ex. C-3

 EXHIBIT D 

FORM OF INDENTURE TRUSTEE’S ANNUAL CERTIFICATION 

 

	RE:	WORLD OMNI AUTO RECEIVABLES TRUST 2013-A 

 Deutsche Bank Trust Company Americas not in its individual capacity but solely as indenture trustee (the “Indenture Trustee”), certifies to World Omni Auto Receivables LLC (the
“Depositor”), and its officers, with the knowledge and intent that they will rely upon this certification, that: 
  

	 	1.	It has reviewed the report on assessment of the Indenture Trustee’s compliance provided in accordance with Rules 13a-18 and 15d-18 under the Securities Exchange
Act of 1934, as amended (the “Exchange Act”) and Item 1122 of Regulation AB (the “Servicing Assessment”), and the registered public accounting firm’s attestation report provided in accordance with Rules
13a-18 and 15d-18 under the Exchange Act and Section 1122(b) of Regulation AB (the “Attestation Report”) that were delivered by the Indenture Trustee to the Depositor pursuant to the Indenture, dated as of May 29, 2013, by
and between the Indenture Trustee and World Omni Auto Receivables Trust 2013-A (collectively, the “Indenture Trustee Information”); 

  

	 	2.	To the best of its knowledge, the Servicing Assessment, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in the light of the circumstances under which such statements were made, not misleading with respect to the period of time covered by the Indenture Trustee Information; 

 

	 	3.	To the best of its knowledge, all of the Indenture Trustee Information required to be provided by the Indenture Trustee under the Agreement has been provided to the
Depositor; and 

  

	 	4.	To the best of its knowledge, except as disclosed in the Servicing Assessment or the Attestation Report, the Indenture Trustee has fulfilled its obligations under the
Agreement. 

  

			
	 DEUTSCHE BANK TRUST COMPANY
 AMERICAS,
 not in its individual capacity but solely as

Indenture Trustee

		
	By:	 	 
		 	Name:
		 	Title:

 Date:              

  
 Ex. D

 EXHIBIT E 
 FORM OF TRANSFEROR CERTIFICATE 
 [DATE] 

Deutsche Bank Trust Company Americas 
 60 Wall
Street 26th Floor 
 Mail Stop NYC60 2606 
 New York, New York 10005 
 Attention: Irene Siegel 

World Omni Auto Receivables LLC 
 190 Jim Moran
Boulevard 
 Deerfield Beach, FL 33442 

World Omni Auto Receivables Trust 2013-A 
 c/o
U.S. Bank Trust National Association 
 Mail Code MK-12-SL7R 
 190 S. LaSalle Street, 7th Floor 
 Chicago, Illinois 60603 

Attention: Patricia Child, VP 

Re: World Omni Auto Receivables Trust 2013-A Class             Notes

 Ladies and Gentlemen: 
 In connection with our disposition of the above-referenced Class             Notes (the “Class
            Notes”) we certify that (a) we understand that the Class             Notes have not been registered
under the Securities Act of 1933, as amended (the “Act”), and are being transferred by us in a transaction that is exempt from the registration requirements of the Act and (b) we have not offered or sold any Class
            Notes to, or solicited offers to buy any Class             Notes from, any person, or otherwise approached or
negotiated with any person with respect thereto, in a manner that would be deemed, or taken any other action which would result in, a violation of Section 5 of the Act. 

 

			
	 Very truly yours,
  

[NAME OF TRANSFEROR]

		
	By:	 	 
		 	Authorized Officer

  
 Ex. E

 EXHIBIT F 
 FORM OF INVESTMENT LETTER 
 Deutsche Bank Trust Company Americas 

60 Wall Street 26th Floor 
 Mail Stop NYC60 2606

 New York, New York 10005 
 Attention:
Irene Siegel 
 World Omni Auto Receivables LLC 
 190 Jim Moran Boulevard 
 Deerfield Beach, FL 33442 

World Omni Auto Receivables Trust 2013-A 
 c/o
U.S. Bank Trust National Association 
 Mail Code MK-12-SL7R 
 190 S. LaSalle Street, 7th Floor 
 Chicago, Illinois 60603 

Attention: Patricia Child, VP 
 Ladies and
Gentlemen: 
 In connection with our proposed purchase of Class
            Notes (the “Class             Notes”) of World Omni Auto Receivables Trust 2013-A (the
“Issuing Entity”), we confirm that: 
 1. We understand that the Class
            Notes have not been registered under the Securities Act of 1933, as amended (the “1933 Act”), and may not be sold except as permitted in the following sentence. We
understand and agree, on our own behalf and on behalf of any accounts for which we are acting as hereinafter stated, (x) that such Class             Notes are being offered only in a
transaction not involving any public offering within the meaning of the 1933 Act and (y) that such Class             Notes may be resold, pledged or transferred only (i) to World
Omni Auto Receivables LLC (“WOAR”), (ii) to an “accredited investor” as defined in Rule 501(a)(1),(2),(3) or (7) of Regulation D under the 1933 Act (an “Accredited Investor”) acting for its own account
(and not for the account of others) or as a fiduciary or agent for others (which others also are Accredited Investors unless the holder is a bank acting in its fiduciary capacity) that executes a certificate substantially in the form hereof,
(iii) so long as such Class             Note is eligible for resale pursuant to Rule 144A under the 1933 Act (“Rule 144A”), to a person whom we reasonably believe after due
inquiry is a “qualified institutional buyer” as defined in Rule 144A, acting for its own account (and not for the account of others) or as a fiduciary or agent for others (which others also are “qualified institutional buyers”)
to whom notice is given that the resale, pledge or transfer is being made in reliance on Rule 144A or (iv) in a sale, pledge or other transfer made in a transaction otherwise exempt from the registration requirements of the 1933 Act, in which
case the Indenture Trustee 

  
 Ex. F-1

 
shall require that both the prospective transferor and the prospective transferee certify to the Indenture Trustee and WOAR in writing the facts surrounding such transfer, which certification
shall be in form and substance satisfactory to the Indenture Trustee and WOAR. Except in the case of a transfer described in clauses (i) or (iii) above, the Indenture Trustee shall require that a written opinion of counsel (which will not
be at the expense of WOAR, any affiliate of WOAR or the Indenture Trustee), satisfactory to the Indenture Trustee and WOAR, be delivered to the Indenture Trustee and WOAR to the effect that such transfer will not violate the 1933 Act, and will be
effected in accordance with any applicable securities laws of each state of the United States. We will notify any purchaser of the Class             Notes from us of the above resale
restrictions, if then applicable. We further understand that in connection with any transfer of the Class             Notes by us that the Indenture Trustee and WOAR may request, and if so
requested we will furnish, such certificates and other information as they may reasonably require to confirm that any such transfer complies with the foregoing restrictions. 

2. [CHECK ONE] 
  

	 	 ̈	(a) We are an Accredited Investor acting for our own account (and not for the account of others) or as a fiduciary or agent for others (which others also are Accredited
Investors unless we are a bank acting in its fiduciary capacity). We have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our investment in the Class
            Notes, and we and any accounts for which we are acting are each able to bear the economic risk of our or their investment for an indefinite period of time. We are acquiring the
Class             Notes or investment and not with a view to, or for offer and sale in connection with, a public distribution. 

 

	 	 ̈	(b) We are a “qualified institutional buyer” as defined under Rule 144A under the 1933 Act and are acquiring the Class
            Notes for our own account (and not for the account of others) or as a fiduciary or agent for others (which others also are “qualified institutional buyers”). We are
familiar with Rule 144A under the 1933 Act and are aware that the seller of the Class             Notes and other parties intend to rely on the statements made herein and the exemption from
the registration requirements of the 1933 Act provided by Rule 144A. 

 3. Either (i) we are
not acquiring the Class             Notes with the assets of any (A) employee benefit plan subject to Title I of the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”), (B) plan subject to Section 4975 of the Code, (C) entity whose underlying assets include plan assets by reason of a plan’s investment in the entity or (D) plan that is subject to any federal,
state or local law that is, to a material extent, similar to the prohibited transaction provisions of ERISA or Section 4975 of the Code (“Similar Law”) (each, a “Plan”) or (ii) our acquisition and holding
of the Class             Notes will not give rise to a nonexempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code or Similar Law. We hereby
acknowledge that no transfer of any Class             Note shall be permitted to be made to any transferee unless either (i) such transferee is not acquiring the Class
            Note with the assets of any Plan or (ii) the acquisition and holding of such Class             Note will not
constitute or result in a nonexempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code or Similar Law. 

  
 Ex. F-2

 4. Unless counsel satisfactory to the Indenture Trustee shall have rendered
an opinion to the effect that the Class             Notes to be transferred will be characterized as indebtedness for United States federal income tax purposes, we represent that we are a
United States Person (within the meaning of Section 7701(a)(30) of the Internal Revenue Code), and acknowledge that unless the Indenture Trustee shall have received such an opinion, no transfer of any Class
            Note shall be permitted to be made to any person who is not a United States Person and any such purported transfer in violation of these restrictions shall be null and void.

 5. We understand that the Issuing Entity, the Indenture Trustee, WOAR and others will rely upon the truth and
accuracy of the foregoing acknowledgments, representations and agreements, and we agree that if any of the acknowledgments, representations and warranties deemed to have been made by us by our purchase of the Class
            Notes, for our own account or for one or more accounts as to each of which we exercise sole investment discretion, are no longer accurate, we shall promptly notify WOAR.

 6. 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. 
  

			
	 Very truly yours,
  

[NAME OF PURCHASER]

		
	By:	 	 
		 	Name:
		 	Title:
		
	Date:	 	 

  
 Ex. F-3

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