Document:

EX-10.15

 Exhibit 10.15 

EXECUTION VERSION 
  

 
  

ADMINISTRATION AGREEMENT 

among 
 ONEMAIN
FINANCIAL ISSUANCE TRUST 2014-2, 
 as Issuer 

ONEMAIN FINANCIAL, INC., 

as Administrator 
 WELLS FARGO
BANK, N.A., 
 as Issuer Loan Trustee 

and 
 ONEMAIN FINANCIAL
FUNDING II, LLC, 
 as Depositor 

Dated as of July 30, 2014 
  

 
  

 THIS ADMINISTRATION AGREEMENT (the “Agreement”) is entered into as of
July 30, 2014, by and among ONEMAIN FINANCIAL ISSUANCE TRUST 2014-2, a Delaware statutory trust, as issuer (the “Issuer”), ONEMAIN FINANCIAL, INC. (“OneMain Financial”), a Delaware corporation, as administrator
(the “Administrator”), WELLS FARGO BANK, N.A. (“Wells Fargo”), a national banking association, not in its individual capacity, but solely as issuer loan trustee for the benefit of the Issuer (the “Issuer
Loan Trustee”), and ONEMAIN FINANCIAL FUNDING II, LLC, a Delaware limited liability company, as depositor (the “Depositor”). 

Certain capitalized terms in this Agreement are defined in and shall have the respective meanings assigned to them in Part A of Schedule II
(together with Part B of such Schedule II, the “Definitions Schedule”) to that certain Sale and Servicing Agreement, dated as of July 30, 2014 (as amended, restated, supplemented or otherwise modified from time to time, the
“Sale and Servicing Agreement”), by and among the Depositor, Wells Fargo, not in its individual capacity, but solely as depositor loan trustee for the benefit of the Depositor (in such capacity, the “Depositor Loan
Trustee”), OneMain Financial, as servicer (in such capacity, the “Servicer”), the Subservicers party thereto as identified in Schedule I thereto, the Issuer and the Issuer Loan Trustee. The rules of construction set forth
in Part B of the Definitions Schedule shall be applicable to this Agreement. 
 W I T N E S S E T H: 

WHEREAS, the Issuer is a statutory trust under the Delaware Statutory Trust Act (12 Del. C. § 3801 et seq.) governed pursuant to
that certain Amended and Restated Trust Agreement, dated as of the Closing Date (as amended, restated, supplemented or otherwise modified from time to time, the “Trust Agreement”), between the Depositor, as depositor and
beneficiary, and Wilmington Trust, National Association, as owner trustee (the “Owner Trustee”); 
 WHEREAS, the Issuer and
the Issuer Loan Trustee are parties to that certain Loan Trust Agreement (the “Issuer Loan Trust Agreement”), dated as of the Closing Date, for the purpose of providing for, among other things, (a) the Issuer Loan Trustee to
hold all right, title and interest to the Loans for the benefit of the Issuer, (b) the pledge of such beneficial interest of the Issuer in the Loans (and the Issuer Loan Trustee’s legal interest in the Loans) to the Indenture Trustee, for
the benefit of the Noteholders, pursuant to the Indenture, and (c) the Issuer Loan Trustee to enter into, and comply with, the Sale and Servicing Agreement, the Indenture and any other applicable Transaction Document; 

WHEREAS, the Issuer will issue, under that certain Indenture, dated as of the Closing Date (as amended, restated, supplemented or otherwise
modified from time to time, the “Indenture”), by and among the Issuer, the Servicer, the Issuer Loan Trustee, Wells Fargo, as the indenture trustee (in such capacity, the “Indenture Trustee”) and as the account
bank, its OneMain Financial Issuance Trust 2014-2 Notes (the “Notes”) and, under the Trust Agreement, the Trust Certificate (the “Trust Certificate” and collectively with the Notes, the
“Securities”); 
 WHEREAS, the Notes will be secured by certain collateral, as more particularly set forth in the
Indenture; 

  
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 WHEREAS, the Trust Certificate will be issued pursuant to the Trust Agreement and the Trust
Certificate will represent the beneficial ownership interest in the Issuer; 
 WHEREAS, the Issuer has entered into certain agreements in
connection with the issuance of the Securities, including the Letter of Representations, dated July 30, 2014 (the “Depository Agreement”), between the Issuer and The Depository Trust Company relating to the Notes; 

WHEREAS, pursuant to the Transaction Documents, the Issuer and the Issuer Loan Trustee are required to perform certain duties in connection
with (a) the Notes and the collateral therefor pledged pursuant to the Indenture (the “Collateral”) and (b) the undivided beneficial ownership interest in the Issuer represented by the Trust Certificate; 

WHEREAS, the Issuer and the Issuer Loan Trustee desire to have the Administrator and the Depositor, or the respective designee thereof,
perform certain of the duties of the Issuer and the Issuer Loan Trustee referred to in the preceding clause, and to provide such additional services consistent with the terms of this Agreement and the Transaction Documents as the Issuer, the Issuer
Loan Trustee or the Owner Trustee may from time to time request; and 
 WHEREAS, the Administrator has the capacity to provide the
respective services required hereby and is willing to perform such services for the Issuer, the Issuer Loan Trustee or the Owner Trustee on the terms set forth herein. 

NOW, THEREFORE, in consideration of the mutual covenants contained herein, and other good and valuable consideration, the receipt and adequacy
of which are hereby acknowledged, the parties agree as follows: 
 SECTION 1. DUTIES OF THE ADMINISTRATOR. 

(a) The Administrator agrees to perform all of the duties of the Issuer and the Issuer Loan Trustee and shall take all appropriate action that
is the duty of the Issuer or the Issuer Loan Trustee to take with respect to the following matters under the Trust Agreement, the Issuer Loan Trust Agreement and the Indenture: 

(i) causing the preparation of Notes for execution by the Authorized Officer of the Issuer (I) upon original issuance,
(II) upon the surrender for registration of any transfer or exchange of Notes and (III) for the replacement of any lost, stolen or mutilated Notes, and delivering of such Notes to the Indenture Trustee for authentication (Sections 2.03, 2.05, 2.06
of the Indenture); 
 (ii) causing the Notes, upon original issuance, to be issued in the form of one or more Notes
representing the Book-Entry Notes to be delivered to the Indenture Trustee as custodian for the Clearing Agency on behalf of the Issuer (Section 2.04 of the Indenture); 

  
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 (iii) delivering to the Indenture Trustee for cancellation any Notes previously
authenticated and delivered that the Issuer acquired in any lawful manner (Section 2.08 of the Indenture); 
 (iv) causing
the execution of Definitive Notes by the Issuer in accordance with the instructions of the applicable Clearing Agency and the delivery of such Notes to the Indenture Trustee for authentication (Section 2.10 of the Indenture); 

(v) obtaining a CUSIP number with respect to the Notes and notifying the Indenture Trustee of any change with respect to any
CUSIP number (Section 2.11 of the Indenture); 
 (vi) directing the Indenture Trustee to undertake reasonable notification
and discharge efforts with respect to the payment of any due and payable amount left unclaimed for two years (Section 3.03 of the Indenture); 

(vii) keeping in full effect the Issuer’s existence, rights and franchises as a statutory trust under the laws of Delaware
and the Issuer’s qualification to do business in each jurisdiction in which such qualification is or shall be necessary to comply with the Issuer’s obligations under the Transaction Documents (Section 3.04 of the Indenture); 

(viii) from time to time, taking all actions, including without limitation preparing, or causing to be prepared, authorizing,
executing and delivering all such supplements and amendments to the Indenture and all such financing statements, amendments to financing statements, continuation statements, if any, instruments of further assurance and other instruments, necessary
or advisable to: (I) grant more effectively all or any portion of the Trust Estate as security for the Notes; (II) maintain or perfect or preserve the lien and security interest (and the priority thereof) of the Indenture or to carry out more
effectively the purposes thereof; (III) perfect, publish notice of or protect the validity of any Grant made, or to be made, by the Indenture and the priority thereof; or (IV) preserve and defend title to the Trust Estate and the rights therein of
the Indenture Trustee and the Noteholders secured thereby against the claims of all Persons and parties (Section 3.05 of the Indenture); 

(ix) annually in accordance with the Indenture, furnishing to the Indenture Trustee an Opinion of Counsel with respect to the
maintenance of the lien and security interest created by the Indenture (Section 3.06 of the Indenture); 
 (x) giving prompt
notice to the Indenture Trustee, each Noteholder and the Rating Agency, as applicable, upon having knowledge thereof, of any Servicer Default, any Event of Default under the Indenture, any default on the part of any party thereto of its obligations
under the Loan Purchase Agreement and any Insolvency Event with respect to the Issuer (Sections 3.07(d) and 3.15 of the Indenture); 

(xi) delivering to the Indenture Trustee a copy of the Loan Schedule (as defined in the Sale and Servicing Agreement) received
by the Issuer pursuant to the Sale and Servicing Agreement and a copy of each notice received by the Issuer from the Noteholders (Sections 3.07(e) and 11.04(b) of the Indenture); 

  
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 (xii) annually, in accordance with the Indenture, causing a review of the
activities of the Issuer during the applicable period and of its performance under the Indenture and delivering to the Indenture Trustee an Officer’s Certificate in respect of such review (Section 3.09 of the Indenture); 

(xiii) upon written request of the Indenture Trustee, executing and delivering such further instruments and doing further acts
as may be reasonably necessary or proper to carry out more effectively the purpose of the Indenture (Section 3.17 of the Indenture); 

(xiv) permitting inspection of the Issuer’s books, records and premises to the extent that the same are maintained by the
Administrator (Section 11.13 of the Indenture); 
 (xv) delivering to the Indenture Trustee, upon its request, an
Officer’s Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to the Indenture (Section 6.03(q) of the Indenture); 

(xvi) furnishing the Indenture Trustee in writing the names, addresses and taxpayer identification numbers of the Holders of
Notes as they appear on the Note Register during any period when the Indenture Trustee is not the Note Registrar (Section 7.01 of the Indenture); 

(xvii) from time to time, taking actions required by the Issuer pursuant to the Issuer Loan Trust Agreement, including without
limitation furnishing documentation and performing the obligations of the Issuer thereunder (Sections 2.5, 2.6(c), 2.13, 5.3 and Article III of the Issuer Loan Trust Agreement) and providing direction to the Issuer Loan Trustee; 

(xviii) at the written direction of the Depositor, signing on behalf of the Issuer any Periodic Filings of the Issuer or other
documents relating to the Issuer prepared by, or on behalf of, the Depositor; 
 (xix) preparing and signing on behalf of the
Issuer any documents relating to the Depository Agreement in connection with the Notes; and 
 (xx) any other duties
expressly required to be performed by the Administrator under the Indenture, the Trust Agreement or any other Transaction Document. 
 (b)
The Administrator shall, if required under the terms of any of the Transaction Documents, record the Indenture, Trust Agreement or any Transaction Document. 

(c) In carrying out the foregoing duties or any of its other obligations under this Agreement, the Administrator may enter into transactions
with or otherwise deal with any of its Affiliates; provided, however, that the terms of any such transactions or dealings shall be in accordance with any directions received from the Issuer and shall be, in the Administrator’s
opinion, no less favorable to the Issuer than would be available from unaffiliated parties. 

  
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 (d) In addition to the duties of the Administrator set forth in clauses (a) and
(b) above, the Administrator shall perform such calculations and shall prepare for execution by the Issuer or the Issuer Loan Trustee or shall cause the preparation by other appropriate persons of all such documents, reports, filings,
instruments, certificates, notices and opinions as it shall be the duty of the Issuer to prepare, file or deliver pursuant to the Transaction Documents and shall take all appropriate action that it is the duty of the Issuer to take pursuant to the
Transaction Documents (other than those required to be performed by the Depositor pursuant to Section 2 hereof) and are reasonably within the capability of the Administrator, in each case for the account of and at the expense of the Issuer;
provided that any such reimbursements from the Issuer shall be paid solely in accordance with, and subject to, Section 8.06 of the Indenture. Subject to Section 5, the Administrator shall administer, perform or supervise the
performance of such other activities in connection with the Collateral (including the Transaction Documents) as are not covered by any of the foregoing provisions (and are not required to be performed by the Depositor pursuant to Section 2
hereof) and are reasonably within the capability of the Administrator. 
 (e) Notwithstanding anything to the contrary in this Agreement,
the Administrator shall not be obligated to, and shall not, take any action that the Issuer or Issuer Loan Trustee directs the Administrator not to take or which could reasonably be expected to result in a violation or breach of the Issuer’s or
the Issuer Loan Trustee’s covenants, agreements or obligations under any of the Transaction Documents. 
 (f) The Administrator shall
maintain appropriate books of account and records relating to services performed hereunder, which books of account and records shall be accessible for inspection by the Issuer, the Issuer Loan Trustee and the Indenture Trustee at any time during
normal business hours. 
 (g) Nothing contained herein shall limit any duty or obligation of OneMain Financial in any other capacity under
any other Transaction Document. 
 (h) Notwithstanding anything to the contrary in this Agreement, the Administrator shall not
(i) incur any indebtedness on behalf of the Issuer or the Issuer Loan Trustee and (ii) except as provided in the Transaction Documents, sell the Trust Estate. 

Subject to the provisions and limitations of Section 1(e), with respect to the following matters, the Administrator shall not take any of the following
actions unless (i) the Administrator provides at least ten (10) days’ prior written notice to the Noteholders and the Beneficiaries of the proposed action and (ii) within ten (10) days of the date such notice was given, the
Directing Holder shall not have notified the Administrator in writing that the Directing Holder is either (A) withholding consent or (B) providing alternative direction with respect to such action: 

(i) the initiation of any claim or lawsuit by the Issuer (except claims or lawsuits brought in connection with the collection
of the Loans or the enforcement of any rights and obligations under the Transaction Documents) and the compromise or settlement of any action, proceeding, investigation, claim or lawsuit brought by or against the Issuer (except with respect to the
aforementioned claims or lawsuits for collection of the Loans); 

  
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 (ii) the confession of a judgment against the Issuer; or 

(iii) the possession of the Owner Trust Estate, or assignment of the Trust’s right to property, other than pursuant to the
Transaction Documents. 
 SECTION 2. DUTIES OF THE DEPOSITOR. 

(a) The Depositor agrees to perform all of the duties of the Issuer and the Issuer Loan Trustee and shall take all appropriate action that is
the duty of the Issuer or Issuer Loan Trustee to take with respect to the following matters under the Trust Agreement, the Issuer Loan Trust Agreement, the Sale and Servicing Agreement and the Indenture: 

(i) executing on behalf of the Issuer any certifications required for opinions of counsel on the Closing Date; 

(ii) (I) preparing and filing all initial UCC filings required under the Indenture and the Transaction Documents on or
about the Closing Date, (II) preparing all necessary UCC-1 and UCC-3 financing statements for the purpose of continuing or amending the UCC-1 financing statements relating to the Sellers, the Depositor, the Depositor Loan Trustee, the Issuer and the
Issuer Loan Trustee, each naming the appropriate party as debtor and the appropriate party as secured party, as are required and for as long as this Agreement and the Indenture remain outstanding and (III) filing such financing statements in a
timely manner, in each case at the expense of the Issuer; 
 (iii) preparing, executing and filing any reports or other
information that are required to be prepared or filed by the Issuer in order to comply with federal, state or foreign securities laws, or exemptions thereunder, and the rules and regulations of any exchange upon which the Securities may be listed;

 (iv) upon request of the Indenture Trustee, executing and delivering such further instruments and doing such further acts
as may be reasonably necessary or proper to carry out more effectively the purpose of the Indenture (Section 3.17 of the Indenture); 

(v) preserving the Issuer’s existence, rights and franchises as a statutory trust under the laws of the State of Delaware
and obtaining and maintaining its qualification to do business in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of the Indenture, the Notes, the Trust Estate and each other related
instrument and agreement included in the Trust Estate (Section 3.04 of the Indenture); 
 (vi) monitoring the Issuer’s
compliance with its negative covenants and its separateness covenants under the Indenture and the Transaction Documents (Sections 3.04, 3.07, 3.08, 3.11, 3.12, 3.13, 3.16 and 3.18 of the Indenture); 

(vii) removing the Indenture Trustee for cause, appointing a successor Indenture Trustee and, if necessary, petitioning a court
of competent jurisdiction for the appointment of a successor Indenture Trustee (Section 6.08 of the Indenture); 

  
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 (viii) preparing Issuer Orders and Officer’s Certificates (and executing the
same on behalf of the Issuer) and obtaining an Opinion of Counsel, if necessary, for the release of the lien of the Indenture with respect to all or any portion of the Trust Estate or the authorization of the Servicer to execute instruments of
satisfaction or cancellation and other comparable instruments (Section 8.05 of the Indenture); 
 (ix) retiring the Notes on
any day on which either the Issuer or the Depositor exercises its optional call right or optional purchase right, respectively (Section 8.08 of the Indenture); 

(x) preparing Issuer Orders and Officer’s Certificates (and executing the same on behalf of the Issuer) and obtaining
Opinions of Counsel and Tax Opinions with respect to the execution of supplemental indentures (Sections 9.01, 9.02 and 9.03 of the Indenture); 

(xi) preparing Officer’s Certificates (and executing the same on behalf of the Issuer) regarding the Issuer’s
compliance with the terms of the Indenture (Section 11.01 of the Indenture); 
 (xii) preparing Issuer Orders and
Officer’s Certificate (and executing the same on behalf of the Issuer) and obtaining an Opinion of Counsel with respect to any request by the Issuer to the Indenture Trustee to take any action under the Indenture; 

(xiii) from time to time, taking actions required by the Issuer pursuant to the Issuer Loan Trust Agreement, including without
limitation furnishing documentation and performing the obligations of the Issuer thereunder (Sections 2.5, 2.6(c), 2.13, 5.3 and Article III of the Issuer Loan Trust Agreement) and providing direction to the Issuer Loan Trustee; 

(xiv) in connection with each Additional Loan Assignment and the related Additional Loan Assignment Schedule, executing each
such Additional Loan Assignment on behalf of the Issuer (Section 2.08(b)(iii) of the Sale and Servicing Agreement) and any assignment agreements as deemed necessary to effect any repurchase obligation of any loan for breach under Section 2.06
of the Sale and Servicing Agreement; 
 (xv) preparing any tax returns, Periodic Filings or other documents relating to the
Issuer (Section 2.05 and 12.10 of the Trust Agreement and Section 3.14 of the Indenture); and 
 (xvi) performing any
other duties expressly required to be performed by the Depositor under the Indenture, the Trust Agreement, the Issuer Loan Trust Agreement, the Sale and Servicing Agreement or any other Transaction Document. 

(b) Notwithstanding anything to the contrary in this Agreement, the Depositor shall not (i) incur any indebtedness on behalf of the
Issuer or the Issuer Loan Trustee, (ii) except as provided in the Transaction Documents, sell the Trust Estate, (iii) take any other action that the Issuer or the Issuer Loan Trustee directs the Depositor not to take on its behalf, or
(iv) take any action that could reasonably be expected to result in a violation or breach of the Issuer’s or the Issuer Loan Trustee’s covenants, agreements or obligations under any of the Transaction Documents. 

  
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 (c) The Depositor will not amend, or agree to amend, in any respect its certificate of formation,
the Depositor LLC Agreement, the Trust Agreement, the Depositor Loan Trust Agreement, the Issuer Loan Trust Agreement, the certificate of trust of the Issuer, or the Depositor’s other organizational documents, unless (i) the Rating Agency
Condition is satisfied, (ii) the Depositor shall have provided to the Indenture Trustee, the Issuer Loan Trustee and the Issuer an Officer’s Certificate of the Depositor, dated as of the date of such amendment, stating that such amendment
is not reasonably expected to result in an Adverse Effect and (iii) such amendment is effected in accordance with the terms of the applicable organizational document. 

SECTION 3. ADDITIONAL INFORMATION TO BE FURNISHED TO THE ISSUER. 

The Administrator shall furnish in writing to the Issuer from time to time such additional information regarding the Collateral as the Issuer
shall reasonably request. 
 SECTION 4. INDEPENDENCE OF THE ADMINISTRATOR. 

For all purposes of this Agreement, the Administrator shall be an independent contractor and shall not be subject to the supervision of the
Issuer or the Owner Trustee with respect to the manner in which it accomplishes the performance of its obligations hereunder. Unless expressly authorized by the Issuer in this Agreement or otherwise, the Administrator shall have no authority to act
for or represent the Issuer, the Issuer Loan Trustee or the Owner Trustee in any way and shall not otherwise be deemed an agent of the Issuer, the Issuer Loan Trustee or the Owner Trustee. 

SECTION 5. NO JOINT VENTURE. 

Nothing contained in this Agreement (i) shall constitute the Administrator and any of the Issuer, the Issuer Loan Trustee or the Owner
Trustee as members of any partnership, joint venture, association, syndicate, unincorporated business or other separate entity, (ii) shall be construed to impose any liability as such on any of them or (iii) shall be deemed to confer on
any of them any express, implied or apparent authority to incur any obligation or liability on behalf of the others. 
 SECTION 6. OTHER
ACTIVITIES OF ADMINISTRATOR. 
 Nothing herein shall prevent the Administrator or its respective Affiliates from engaging in other
businesses or, in its sole discretion, from acting in a similar capacity for any other person or entity even though such person or entity may engage in business activities similar to those of the Issuer or the Owner Trustee. 

  
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 SECTION 7. TERM OF AGREEMENT; RESIGNATION AND REMOVAL OF ADMINISTRATOR. 

(a) This Agreement shall continue in force until the termination of the Trust Agreement in accordance with its terms, upon which event this
Agreement shall automatically terminate. 
 (b) Subject to Section 7(e), the Administrator may resign its duties hereunder by providing
the Issuer with at least sixty (60) days’ prior written notice. 
 (c) Subject to Section 7(e), the Issuer may remove the
Administrator without cause by providing the Administrator with at least sixty (60) days’ prior written notice. 
 (d) Subject to
Section 7(e), the Issuer may remove the Administrator immediately upon written notice of termination from the Issuer to the Administrator if any of the following events shall occur: 

(i) the Administrator shall default in the performance of any of its duties under this Agreement and, after notice of such
default, shall not cure such default within ten (10) days (or, if such default cannot be cured in such time, shall not give within ten (10) days such assurance of cure as shall be reasonably satisfactory to the Issuer); or 

(ii) an Insolvency Event shall occur with respect to the Administrator. 

The Administrator agrees that if any of the events specified in clause (ii) of this Section 7(d) shall occur, it shall give written
notice thereof to the Issuer and the Indenture Trustee within seven (7) days after the occurrence of such event. 
 (e) No resignation
or removal of the Administrator pursuant to this Section shall be effective until (i) a successor Administrator shall have been appointed by the Issuer and (ii) such successor Administrator shall have agreed in writing to be bound by the
terms of this Agreement in the same manner as the Administrator is bound hereunder. 
 If a successor Administrator does not take office
within sixty (60) days after the retiring Administrator resigns or is removed, the resigning or removed Administrator or the Issuer may petition any court of competent jurisdiction for the appointment of a successor Administrator. 

In the event that the Administrator resigns or is terminated hereunder, the Administrator shall use its commercially reasonable efforts to and
shall cooperate with the Issuer and take other reasonable steps requested by the Issuer to assist in the orderly and efficient transfer of the administration of the Issuer to the successor Administrator. 

SECTION 8. ACTION UPON TERMINATION, RESIGNATION OR REMOVAL OF THE ADMINISTRATOR. 

Promptly upon the effective date of termination of this Agreement or the resignation or removal of the Administrator pursuant to
Section 7, the Administrator shall be 

  
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entitled to be paid all fees and reimbursable expenses, including any reasonable out-of-pocket attorneys’ fees, accruing to it to the date of such termination, resignation or removal. The
Administrator shall forthwith upon such termination pursuant to Section 7 deliver to the successor Administrator all property and documents of or relating to the Collateral then in the custody of the Administrator, or if this Agreement has been
terminated, to the Depositor. In the event of the resignation or removal of the Administrator pursuant to Section 7, the Administrator shall cooperate with the Issuer and the Depositor and take all reasonable steps requested to assist the
Issuer and the Depositor in making an orderly transfer of the duties of the Administrator. 
 SECTION 9. COMPENSATION. 

The Administrator will be compensated by the Depositor for the performance of the duties and provision of the services called for in this
Agreement as separately agreed between the Depositor and the Administrator. Any opinion, filing or other services performed by the Administrator hereunder that generates additional costs shall be at the expense of the Depositor. 

SECTION 10. NOTICES. 

Any notice, report or other communication given hereunder shall be in writing, delivered by mail, overnight courier, electronic communication
or facsimile and addressed as follows: 
  

	 	(a)	if to the Issuer, to: 

 OneMain Financial Issuance Trust 2014-2 

c/o Wilmington Trust, National Association 

Rodney Square North 
 1100 North
Market Street 
 Wilmington, Delaware 19890 

Attention: Corporate Trust Administration 

Telephone: (302) 636-6128 

Facsimile: (302) 636-4140 

Email address: OMFIT.2014-2@citi.com 

With a copy to the Administrator, at the address provided below. 
  

	 	(b)	if to the Issuer Loan Trustee, to: 

 Wells Fargo Bank, N.A. 

Sixth and Marquette Ave. 
 MAC
N9311-161 
 Minneapolis, MN 55469 

Attention: Corporate Trust Services 

Telephone: (612) 667-7181 

Facsimile: (612) 667-3464 

Email address: marianna.c.stershic@wellsfargo.com 

  
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	 	(c)	if to the Administrator, to: 

 OneMain Financial, Inc. 

300 St. Paul Place 
 Baltimore,
MD 21202 
 Attention: Oona Robinson 

Telephone: (410) 332-7723 

Email address: oona.robinson@citi.com 

with a copy to: 
 OneMain
Financial, Inc. 
 300 St. Paul Place 

Baltimore, MD 21202 
 Attention:
Office of General Counsel 
  

	 	(d)	if to the Depositor, to: 

 OneMain Financial Funding II, LLC 

300 St. Paul Place 
 BSP15 

Baltimore, MD 21202 
 Telephone:
(410) 332-2964 
 Email address: OMF.FundingII.LLC@citi.com 

with a copy to: 
 OneMain
Financial, Inc. 
 300 St. Paul Place 

Baltimore, MD 21202 
 Attention:
Office of General Counsel 
  

	 	(e)	in the case of notice to a Rating Agency, at the following addresses: 

 Standard &
Poor’s Ratings Services 
 55 Water Street, 41st Floor 

New York, NY 10041 
 Attention:
Timothy Bartl 
 Email address: structuredcreditreports@sandp.com 

and 
 DBRS, Inc. 

140 Broadway, 35th Floor 
 New
York, NY 10005 
 Attention: Eric Rapp 

Email address: erapp@dbrs.com 

  
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 or to such other address as any party shall have provided to the other parties in writing. Any notice required to
be delivered hereunder shall be deemed given if such notice is mailed by certified mail, postage prepaid, hand delivered or faxed to the address of such party as provided above. 

SECTION 11. AMENDMENTS. 

(a) This Agreement may be amended from time to time by the Issuer, the Administrator, the Issuer Loan Trustee and the Depositor, by a written
instrument signed by each of them, but without consent of any of the Noteholders or the holder of the Trust Certificate, (i) to correct or supplement any provisions herein which may be inconsistent with any other provisions herein, or
(ii) to add any other provisions with respect to matters or questions arising under or related to this Agreement which shall not be inconsistent with the provisions of this Agreement; provided, however, that such action shall not
adversely affect in any material respect the interest of any of the Noteholders or the holder of the Trust Certificate as evidenced by an Officer’s Certificate of the Depositor to such effect delivered to the Indenture Trustee and the Issuer,
and the Rating Agency Condition shall have been satisfied with respect to such amendment. Additionally, this Agreement may be amended from time to time by the Issuer, the Administrator, the Issuer Loan Trustee and the Depositor, by a written
instrument signed by each of them, but without the consent of any of the Noteholders or the holder of the Trust Certificate; provided that (i) the Depositor shall have delivered to the Indenture Trustee and the Issuer an Officer’s
Certificate, dated the date of any such amendment, stating that the Depositor reasonably believes that such amendment will not have an Adverse Effect and (ii) the Rating Agency Condition shall have been satisfied with respect to any such
amendment. Notwithstanding anything else to the contrary herein, this Agreement may be amended by the Issuer, the Administrator, the Issuer Loan Trustee and the Depositor, by a written instrument signed by each of them, but without the consent of
the Noteholders or the holder of the Trust Certificate, upon satisfaction of the Rating Agency Condition with respect to such amendment (without anything further) as may be necessary or advisable in order to avoid the imposition of any withholding
taxes or state or local income or franchise taxes imposed on the Issuer’s property or its income. 
 (b) This Agreement may also be
amended from time to time by the Issuer, the Administrator, the Issuer Loan Trustee and the Depositor, with the consent of the Required Noteholders and the holder of the Trust Certificate, 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 holder of the Trust Certificate; provided, however, that no such amendment shall directly or
indirectly (i) reduce in any manner the amount of or delay the timing of any distributions (changes in Early Amortization Events that decrease the likelihood of the occurrence thereof shall not be considered delays in the timing of Certificate
or deposits of amounts to be so distributed) without the consent of each affected Noteholder and the holder of the Trust Certificate, (ii) change the definition of or the manner of calculating the interest of any Noteholder without the consent
of each affected Noteholder or (iii) reduce the aforesaid percentage required to consent to any such amendment without the consent of each Noteholder. The Administrator shall provide notice of any such amendment to each Rating Agency. 

  
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 (c) Promptly after the execution of any such amendment, the Administrator shall furnish a copy of
such amendment to each Noteholder and the holder of the Trust Certificate. 
 (d) It shall not be necessary for the consent of Noteholders
under this Section 11 to approve the particular form of any proposed amendment, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining such consents and of evidencing the authorization of the
execution thereof by Noteholders shall be subject to such reasonable regulations as the Administrator may prescribe. 
 (e) No amendment to
this Agreement that affects the rights, duties, benefits, liabilities, protections, privileges, immunities or obligations of the Owner Trustee shall be effective without the prior written consent of the Owner Trustee, and the Owner Trustee may
elect, but shall not be obligated, to enter into any such amendment. 
 SECTION 12. SUCCESSORS AND ASSIGNS. 

This Agreement may not be assigned by the Administrator or the Depositor unless such assignment is previously consented to in writing by the
other parties hereto and the Owner Trustee. An assignment with such consent and satisfaction, if accepted by the assignee, shall bind the assignee hereunder in the same manner as the Administrator or the Depositor, as applicable, is bound hereunder.
If the Administrator consolidates with, merges or converts into, or transfers or sells all or substantially all of its business or assets to, another Person, the resulting, surviving or transferee Person, without any further act, shall be the
successor Administrator. The Administrator shall provide the Issuer, the Noteholders and, after posting on the Issuer’s 17g-5 Website, the Rating Agency, with prompt written notice after such merger, conversion or transfer. 

Subject to the foregoing, this Agreement shall bind any successors, co-trustees or assigns of the parties hereto. 

SECTION 13. GOVERNING LAW. 

THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT
REFERENCE TO ITS CONFLICT OF LAWS PROVISIONS (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW) AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

EACH OF THE PARTIES HERETO IRREVOCABLY SUBMITS TO THE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK
AND OF ANY NEW YORK STATE COURT SITTING IN THE COUNTY OF NEW YORK FOR PURPOSES OF ALL LEGAL PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER TRANSACTION DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH OF THE
PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO, ANY OBJECTION WHICH 

  
 13 

 
IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT AND ANY CLAIM THAT ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN
INCONVENIENT FORUM. NOTHING IN THIS SECTION SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO BRING ANY ACTION OR PROCEEDING AGAINST ANY OTHER PARTY HERETO OR ANY OF THEIR PROPERTY IN THE COURTS OF OTHER JURISDICTIONS. 

EACH OF THE PARTIES HERETO HEREBY WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER ARISING IN CONTRACT, TORT OR
OTHERWISE, AMONG ANY OF THEM ARISING OUT OF, CONNECTED WITH, RELATING TO AND INCIDENT TO THE RELATIONSHIP BETWEEN THEM IN CONNECTION WITH THIS AGREEMENT OR THE OTHER TRANSACTION DOCUMENTS. 

SECTION 14. HEADINGS. 

The section headings hereof have been inserted for convenience of reference only and shall not be construed to affect the meaning,
construction or effect of this Agreement. 
 SECTION 15. COUNTERPARTS. 

This Agreement may be executed in counterparts, each of which when so executed shall together constitute one and the same agreement. 

SECTION 16. SEVERABILITY. 

Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall 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 17. LIMITATION OF LIABILITY OF OWNER TRUSTEE. 

It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Wilmington Trust,
National Association, not individually or personally but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on
the part of the Issuer is made and intended not as personal representations, undertakings and agreements by Wilmington Trust, National Association but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained
shall be construed as creating any liability on Wilmington Trust, National Association, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the
parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Wilmington Trust, National Association be personally liable for the payment of any indebtedness or expenses of the Issuer or
be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents. 

  
 14 

 SECTION 18. ISSUER LIABILITY. 

Notwithstanding the engagement of the Administrator and the Depositor by the Issuer to perform the covenants, duties and obligations of the
Issuer and the Issuer Loan Trustee as set forth herein, the Issuer shall remain liable for all such covenants, duties and obligations under the Transaction Documents. 

SECTION 19. BENEFIT OF AGREEMENT. 

It is expressly agreed that in performing its duties under this Agreement, each of the Administrator and the Depositor will act for the
benefit of Holders of the Securities as well as for the benefit of the Issuer, and that such obligations on the part of the Administrator shall be enforceable by the Indenture Trustee and the Issuer. The Owner Trustee is an express third-party
beneficiary of this Agreement as if it were a party hereto. 
 SECTION 20. FIDUCIARY DUTY OF ADMINISTRATOR AND DEPOSITOR. 

(a) The Administrator and the Depositor (collectively, the “Covered Persons”) agree to perform their duties under
Section 1 and Section 2, respectively, of this Agreement in good faith and in the best interests of the Issuer, but only upon the express terms of this Agreement. The Covered Persons shall not have any implied duties (including fiduciary
duties) or liabilities otherwise existing at law or in equity with respect to the Issuer in connection with the performance of their respective duties under this Agreement. 

(b) The Covered Persons shall not be personally liable in connection with the performance of their respective duties under this Agreement,
except that such limitation shall not relieve the Covered Persons of any personal liability they may have for any act or omission that constitutes bad faith, willful misconduct or gross negligence in the performance of their express duties under
this Agreement. 

  
 15 

 SECTION 21. BANKRUPTCY MATTERS. 

(a) To the fullest extent permitted by law and notwithstanding any prior termination of this Agreement, each of the Administrator and the
Issuer Loan Trustee agree that it shall not file, commence, join, or acquiesce in a petition or proceeding, or cause the Depositor to file, commence, join, or acquiesce in a petition or proceeding, that causes (i) the Depositor to be a debtor
under any Debtor Relief Law or (ii) a trustee, conservator, receiver, liquidator, or similar official to be appointed for the Depositor or any substantial part of its property. 

(b) To the fullest extent permitted by law and notwithstanding any prior termination of this Agreement, each of the Administrator, the
Depositor and the Issuer Loan Trustee agree that it shall not file, commence, join or acquiesce in a petition or proceeding, or cause the Issuer to file, commence, join, or acquiesce in a petition or proceeding, that causes (i) the Issuer to be
a debtor under any Debtor Relief Law or (ii) a trustee, conservator, receiver, liquidator or similar official to be appointed for the Issuer or any substantial part of its property. 

(c) The parties hereto agree that the provisions of this Section 21 shall survive the resignation or removal of any such party to this
Agreement and the termination of this Agreement. 
 SECTION 22. LIMITED RECOURSE. 

(a) Notwithstanding anything to the contrary contained herein, no recourse under or with respect to any obligation, covenant or agreement of
the Depositor as contained in this Agreement or any of the other Transaction Documents or any other agreement, instrument or document to which the Depositor is a party shall be had against any incorporator, stockholder, affiliate, officer, employee
or director of the Depositor by the enforcement of any assessment or by any legal or equitable proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that the agreements of the Depositor contained in this
Agreement and all other agreements, instruments and documents entered into pursuant hereto or in connection herewith are, in each case, solely corporate obligations of the Depositor. Notwithstanding any provisions contained in this Agreement to the
contrary, the Depositor shall not, and shall not be obligated to, pay any fees, costs, indemnified amounts or expenses due pursuant to this Agreement until payment in full of all amounts that the Depositor is obligated to deposit in the Collection
Account and the Principal Distribution Account pursuant to the Loan Purchase Agreement or the Sale and Servicing Agreement; provided, however, that the Noteholders shall be entitled to the benefits of the subordination of the
Collections allocable to the Trust Certificate to the extent provided in the Indenture. Any amount which the Depositor does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in § 101 of the
United States Bankruptcy Reform Act of 1978 (11 U.S.C. § 101, et seq.), as amended from time to time) against or obligation of the Depositor for any such insufficiency unless and until funds are available for the payment of such amounts as
aforesaid. 

  
 16 

 (b) Notwithstanding anything to the contrary contained herein, no recourse under or with respect
to any obligation, covenant or agreement of the Issuer as contained in this Agreement or any of the other Transaction Documents or any other agreement, instrument or document to which the Issuer is a party shall be had against any incorporator,
stockholder, affiliate, officer, employee or director of the Issuer by the enforcement of any assessment or by any legal or equitable proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that the agreements of
the Issuer contained in this Agreement and all other agreements, instruments and documents entered into pursuant hereto or in connection herewith are, in each case, solely corporate obligations of the Issuer. Notwithstanding any provisions contained
in this Agreement to the contrary, the Issuer shall not, and shall not be obligated to, pay any fees, costs, indemnified amounts or expenses due pursuant to this Agreement other than in accordance with the order of priorities set forth in
Section 8.06 of the Indenture. Any amount which the Issuer does not pay pursuant to the operation of the preceding sentence shall not constitute a claim (as defined in § 101 of the United States Bankruptcy Reform Act of 1978 (11 U.S.C.
§ 101, et seq.), as amended from time to time) against or obligation of the Issuer for any such insufficiency unless and until funds are available for the payment of such amounts as aforesaid. 

(c) The parties hereto agree that the provisions of this Section 22 shall survive the resignation or removal of any such party to this
Agreement and the termination of this Agreement. 
 SECTION 23. LIMITATION OF LIABILITY OF ISSUER LOAN TRUSTEE 

(a) It is acknowledged and agreed that, in connection with the Issuer Loan Trustee’s execution and delivery of this Agreement and the
performance of its duties and exercise of its rights hereunder, it shall be entitled to all of its rights, benefits, protections, indemnities and immunities set forth in the Issuer Loan Trust Agreement and any other relevant Transaction Document.
Notwithstanding anything to the contrary herein, the Issuer Loan Trustee shall exercise all rights and remedies hereunder and provide any consents, directions, approvals, acceptances, determinations, rejections or other similar actions pursuant to
this Agreement in accordance with directions received from the Issuer, and the Issuer Loan Trustee shall not have any liability for taking any such actions in accordance with such directions and shall not be liable for any failure or delay in taking
such actions resulting from any failure or delay by such Person (or other applicable Person as may be expressly provided) in providing such direction. 

(b) It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by Wells Fargo Bank,
N.A., not individually or personally but solely as Issuer Loan Trustee for the benefit of the Issuer, in the exercise of the powers and authority conferred and vested in it under the Issuer Loan Trust Agreement, and (ii) under no circumstances
shall Wells Fargo Bank, N.A. be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under
this Agreement or the other Transaction Documents to which it is a party. 
 [signatures on following page] 

  
 17 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered as
of the day and year first above written. 
  

			
	 ONEMAIN FINANCIAL, INC.,
 as
Administrator

		
	By:		 /s/ Oona Robinson

	Name:		Oona Robinson
	Title:		Vice President & Assistant Treasurer
	
	 ONEMAIN FINANCIAL FUNDING II, LLC,

as Depositor

		
	By:		 /s/ Oona Robinson

	Name:		Oona Robinson
	Title:		Vice President & Assistant Treasurer

 [Signature Page to Administrative Agreement (OMF 2014-2)] 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered as
of the day and year first above written. 
  

			
	ONEMAIN FINANCIAL ISSUANCE TRUST 2014-2
	By:		 Wilmington Trust, National Association,
 not in
its individual capacity but solely as Owner Trustee of the Issuer

		
	By:		 /s/ Rachel L. Simpson

	Name:		Rachel L. Simpson
	Title:		Assistant Vice President

 [Signature Page to Administrative Agreement (OMF 2014-2)] 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered as
of the day and year first above written. 
  

			
	WELLS FARGO BANK, N.A.,
	not in its individual capacity but solely as Issuer Loan Trustee
		
	By:		 /s/ Marianna C. Stershic

	Name:		Marianna C. Stershic
	Title:		Vice President

 [Signature Page to Administrative Agreement (OMF 2014-2)]EX-10.16

 Exhibit 10.16 

EXECUTION VERSION 

CUSTODIAN AGREEMENT 

Among 
 ONEMAIN
FINANCIAL ISSUANCE TRUST 2014-2, 
 as Issuer, 

WELLS FARGO BANK, N.A., 

as Issuer Loan Trustee, Custodian, Back-up Servicer and Indenture Trustee, 

ONEMAIN FINANCIAL, INC., 

as Servicer 
 and

 ONEMAIN FINANCIAL FUNDING II, LLC, 

as Depositor 
 Dated as
of July 30, 2014 

 THIS CUSTODIAN AGREEMENT, dated as of July 30, 2014 (this “Agreement”), is
made with respect to the issuance of Notes by OneMain Financial Issuance Trust 2014-2, a Delaware statutory trust (the “Issuer”), and is among the Issuer, Wells Fargo Bank, N.A., a national banking association, as Issuer Loan
Trustee for the benefit of the Issuer (in such capacity the “Issuer Loan Trustee”), as custodian (in such capacity, the “Custodian”), as back-up servicer (in such capacity, the “Back-up Servicer”),
as indenture trustee (in such capacity, the “Indenture Trustee”), OneMain Financial, Inc., a Delaware corporation, as servicer (in such capacity, the “Servicer”) and OneMain Financial Funding II, LLC, a Delaware
limited liability company, as depositor (the “Depositor”). 
 W I T N E S S
E T H: 
 WHEREAS, certain seller parties thereto (the “Sellers”), the Depositor and Wells Fargo Bank,
N.A., not in its individual capacity but solely as depositor loan trustee for the benefit of the Depositor (in such capacity, the “Depositor Loan Trustee”), have entered into a Loan Purchase Agreement, dated as of July 30, 2014
(the “Purchase Agreement”), pursuant to which the Sellers have sold, transferred and assigned to the Depositor and the Depositor Loan Trustee for the benefit of the Depositor all of each Seller’s right, title and interest in
and to the Purchased Assets (as defined in the Purchase Agreement); 
 WHEREAS, the Issuer, the Issuer Loan Trustee, the Subservicers, the
Servicer, the Depositor, the Depositor Loan Trustee and the Indenture Trustee have entered into a Sale and Servicing Agreement, dated as of July 30, 2014 (the “Sale and Servicing Agreement”), pursuant to which the Depositor and
the Depositor Loan Trustee for the benefit of the Depositor have each have sold, transferred and assigned to the Issuer and the Issuer Loan Trustee for the benefit of the Issuer all of their respective right, title and interest in and to the Sold
Assets (as defined in the Sale and Servicing Agreement); 
 WHEREAS, the Depositor, the Depositor Loan Trustee, the Servicer, the Back-up
Servicer and the Indenture Trustee have entered into a Back-up Servicing Agreement, dated as of July 30, 2014, appointing the Back-up Servicer; 

WHEREAS, the Indenture Trustee and the Issuer wish to appoint the Custodian to hold the Loan Notes (as defined below) relating to the personal
loans (each, a “Loan” and, collectively, the “Loans”) transferred to the Issuer and the Issuer Loan Trustee for the benefit of the Issuer on the date hereof (the “Closing Date”) pursuant to the Sale
and Servicing Agreement (the “Initial Loans”), and hold Additional Loans delivered to the Custodian from time to time thereafter, as the custodian on behalf of the Issuer, the Issuer Loan Trustee on behalf of the Issuer and the
Indenture Trustee; 
 WHEREAS, the Servicer and affiliates of the Servicer will deposit Loan Notes with the Issuer and the Issuer Loan
Trustee on behalf of the Issuer on the Closing Date and from time to time thereafter, and the Issuer, the Issuer Loan Trustee, the Servicer, the Depositor, the Back-up Servicer and the Indenture Trustee wish to engage the Custodian to maintain
custody of the deposited Loan Notes under the terms of this Agreement; 

  
 -2- 

 NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and
valuable consideration the receipt and adequacy of which are hereby acknowledged, the parties agree as follows: 
 Section 1.
Appointment of Custodian; Acknowledgment of Receipt. 
 (a) Subject to the terms and conditions hereof, the Issuer, the Issuer Loan
Trustee for the benefit of the Issuer and the Indenture Trustee hereby revocably appoint the Custodian, but shall not be responsible for the acts or omissions of the Custodian, and the Custodian hereby accepts such appointment, as custodian and
bailee on behalf of the Issuer, the Issuer Loan Trustee for the benefit of the Issuer, and the Indenture Trustee, to maintain exclusive custody of the Loan Notes relating to the Loans and related assets from time to time owned by the Issuer and the
Issuer Loan Trustee for the benefit of the Issuer and pledged to the Indenture Trustee; provided, however, if the Servicer implements its own imaging system for Loan Notes, the Servicer shall provide (1) written notice to the
Custodian that the Servicer will maintain custody of the Loan Notes representing Additional Loans that are transferred to the Issuer as of or after such date (and any Loan Notes released to the Servicer pursuant to Section 3(c) as of or after
such date) and (2) an Officer’s Certificate to the Indenture Trustee as provided for in Section 3.11(d) of the Sale and Servicing Agreement. Except as specifically set forth in Section 3(c) herein, if the Servicer elects to
exercise its option to maintain custody of the Loan Notes representing such Additional Loans, the Custodian will continue to maintain exclusive custody of the Loan Notes previously delivered to it. Notwithstanding the previous sentence, the
Custodian will not have any responsibility for any Additional Loans that the Servicer holds after the Servicer exercises its right to maintain custody of the Loan Notes representing such Additional Loans. In performing its duties hereunder, the
Custodian agrees to act with reasonable care, using the degree of skill and attention that a commercial bank acting in the capacity of a custodian would exercise with respect to files relating to comparable consumer loans or other similar loan
products that it holds for itself or other third parties. The Custodian shall, during the term of this Agreement, provide the services enumerated in this Agreement and in Appendix I hereto (the “Statement of Work”). For
purposes of this Agreement, “Loan Note” shall mean, with respect to any Loan, the original physical note for such Loan, including any written allonges, amendments or extensions thereto. For the avoidance of doubt, the Custodian will
only be in possession of physical Loan Notes in respect of the Loans, and not electronically authenticated records of the notes or the authoritative copies of the notes. 

(b) By the Closing Date, the Servicer shall deliver, or shall cause to be delivered, to the Custodian for safekeeping no less than 60% of the
aggregate then outstanding principal amount of all the original physical Loan Notes representing the Initial Loans (including Loan Notes required for over-collateralization as required pursuant to the Sale and Servicing Agreement and the Indenture).
As evidence of its acknowledgment of receipt of such Loan Notes, the Custodian shall execute and deliver, on the Closing Date, a custodian’s acknowledgment in substantially the form attached hereto as Exhibit A-1 (the “Initial
Custodian’s Acknowledgment”), which shall indicate which Loan Notes with respect to the Initial Loans that the Custodian has received and reviewed as of the date of such Initial Custodian’s Acknowledgment, which such Loan Notes
that it has not received or reviewed and which such Loan Notes that it has cited exceptions to the certification criteria provided in Section 2 of the Statement of Work. 

  
 -3- 

 (c) The Servicer shall deliver, or shall cause to be delivered, to the Custodian for safekeeping
an aggregate Loan Principal Balance of original physical Loan Notes in the Loan Pool equal to at least 100% of the aggregate Loan Principal Balance of the Statistical Pool Loans as of the Initial Cut-Off Date within thirty (30) days after the
Closing Date (the “Post-Closing Delivery Date”). As evidence of its acknowledgment of receipt of such Loan Notes, the Custodian shall execute and deliver, on or before the Business Day immediately following the Post-Closing Delivery
Date, a custodian’s acknowledgment in substantially the form attached hereto as Exhibit A-1 (a “Post-Closing Custodian’s Acknowledgment”), which shall indicate which Loan Notes with respect to the Initial Loans and
the Additional Loans that the Custodian has received and reviewed since the Closing Date, which such Loan Notes that it has not received and reviewed and which such Loan Notes that it has cited exceptions to the certification criteria provided in
Section 2 of the Statement of Work. 
 (d) With respect to the delivery of Loan Notes representing Additional Loans to the Custodian
from time to time following the Closing Date prior to the Servicer’s election to exercise its option to maintain custody of the Loan Notes representing Additional Loans as part of implementing its own imaging system, the Servicer shall deliver,
or shall cause to be delivered, each Loan Note within thirty (30) days of the date on which the related Loan was transferred to the Issuer pursuant to the Transaction Documents. In connection with the delivery of such Loan Notes representing
Additional Loans to the Custodian from time to time following the Closing Date, the Custodian shall execute and deliver, on or before the third (3rd) Business Day following receipt of such Loan Notes and the related Loan Schedule, a
custodian’s acknowledgment in substantially the form attached hereto as Exhibit A-2 (a “Subsequent Custodian’s Acknowledgment”), which shall indicate which Loan Notes that the Custodian has received and which Loan
Notes that it has not received. 
 Section 2. Maintenance of Loan Notes at Office. The Custodian agrees to maintain the Loan
Notes at its offices located at 1055 Tenth Ave. SE, Minneapolis, Minnesota 55414, or at such other office as shall from time to time be identified in writing prior to such change to the Indenture Trustee, the Servicer, the Issuer and the Issuer Loan
Trustee, and the Custodian will hold the Loan Notes in such office on behalf of the Issuer, the Issuer Loan Trustee for the benefit of the Issuer, and the Indenture Trustee, clearly identified as being separate from any other instruments and files
on its records, including other instruments and files held by the Custodian and in compliance with Section 3(a) hereof. 

Section 3. Duties of Custodian. 

(a) Safekeeping. The Custodian shall hold the Loan Notes on behalf of the Issuer, the Issuer Loan Trustee for the benefit of the
Issuer, and the Indenture Trustee clearly identified as being separate from all other files or records that may be held by the Custodian for the benefit of others at the same location and shall maintain such accurate and complete accounts, records
and computer systems pertaining to each Loan Note as will enable the Issuer, the Issuer Loan Trustee for the benefit of the Issuer, and the Indenture Trustee to comply with the terms and conditions of the Sale and Servicing Agreement and the
Indenture, dated the 

  
 -4- 

 
Closing Date (the “Indenture”), among the Issuer, the Issuer Loan Trustee, the Indenture Trustee, Wells Fargo Bank, N.A. in its capacity as account bank and the Servicer. Each
Loan shall be identified on the books and records of the Custodian in a manner that (i) is consistent with the practices of a commercial bank acting in the capacity of custodian with respect to similar consumer finance products,
(ii) indicates that the Loans are held by the Custodian on behalf of the Issuer, the Issuer Loan Trustee for the benefit of the Issuer, and the Indenture Trustee, and reflects the Indenture Trustee’s security interest therein and
(iii) is otherwise necessary, as reasonably determined by the Custodian, to comply with the terms of this Agreement. The Custodian shall carry out such policies and procedures in accordance with its customary actions with respect to the
handling and custody of the Loan Notes so that the integrity and physical possession of the Loan Notes will be maintained, and shall, at its own expense, maintain at all times during the existence of this Agreement, and keep in full force and
effect, banker’s blanket bond insurance (which shall include fidelity insurance and theft of documents insurance). All such insurance shall be in such amounts, with such standard coverages and subject to such deductibles as are customary for
insurance typically maintained by banks which act as custodian in similar transactions. The Custodian shall promptly report to the Indenture Trustee, the Servicer and the Back-up Servicer (x) any failure on its part to hold the Loan Notes and
maintain its accounts, records and computer systems as herein provided, which report shall be delivered to the Servicer no later than three (3) Business Days following actual knowledge of such occurrence, and (y) the incurrence by any
party hereto of any costs, expenses, losses or damages as a result of the destruction or loss of any of the Loan Notes or any instrument or document comprising part of a Loan Note. Upon any such occurrence, the Custodian shall promptly take
appropriate action to remedy such failure and provide notice of such remedy to the Servicer following completion of the related remedial action. Subject to Section 3(c) hereof, the Custodian shall at all times maintain the original Loan Notes
in a fire resistant vault. 
 (b) Access to Records. The Custodian shall, subject to the Custodian’s security requirements
applicable to its own employees having access to similar records held by the Custodian, which requirements shall be consistent with the practices of a commercial bank acting in the capacity of custodian with respect to similar files or records, and
at such times as may be reasonably imposed by the Custodian, permit only the Servicer, the Issuer, the Issuer Loan Trustee for the benefit of the Issuer, the Indenture Trustee or any of their duly authorized representatives, attorneys or auditors to
inspect, at the requesting party’s expense, the Loan Notes and the related accounts, records and computer systems maintained by the Custodian pursuant hereto at such times as the Issuer, the Servicer, the Issuer Loan Trustee for the benefit of
the Issuer or the Indenture Trustee may reasonably request. 
 (c) Release. Consistent with the practices of a commercial bank acting
in the capacity of custodian with respect to similar files or records, the Custodian may release any Loan Note to or at the direction of the Servicer upon receipt from the Servicer, no later than 2:00 p.m. (central time) on any Monday (or, if such
day is not a Business Day, the next succeeding Business Day), of a written request for release of documents in the form attached hereto as Exhibit B (a “Release Direction”). Upon receipt by the Custodian of a Release
Direction, the Custodian shall release the applicable Loan Note to, or as directed by, the Servicer, to the location specified in the related Release Direction by no later than ten (10) calendar days following receipt of such Release Direction.
Notwithstanding the foregoing, 

  
 -5- 

 
solely in respect of Loans originated in Montana or Minnesota, the Servicer may deliver a Release Direction relating to the related Loan Notes by no later than 2:00 p.m. (central time) on any
Business Day and the Custodian shall send any such Loan Notes as directed in the Release Direction by no later than the next succeeding Business Day following receipt of such Release Direction. All Loan Notes so released to the Servicer shall be
held in trust by the Servicer for the benefit of the Indenture Trustee and the Issuer unless the related Loan has been released from the lien of the Indenture. 

(d) Administration; Reports. The Custodian shall provide the Servicer, with respect to the Loan Notes received, the reports described
in the Statement of Work attached hereto as Appendix I. 
 Section 4. Instructions; Authority to Act. The Custodian shall
be deemed to have received proper instructions with respect to the Loan Notes upon its receipt of written instructions signed by an authorized representative of the Indenture Trustee or from the Servicer. Such instructions may be general or specific
in terms. A copy of any such instructions shall be furnished by the Indenture Trustee or the Servicer to the Issuer and the Issuer Loan Trustee for the benefit of the Issuer promptly upon delivery of the same to the Custodian. 

Section 5. Custodian Fee. For its services under this Agreement, the Custodian shall be entitled to fees with respect to the Loan
Notes held by the Custodian as described on Exhibit C hereto, and reimbursement for its out-of-pocket expenses, which compensation and expenses will be invoiced by the Custodian to the Depositor no later than five (5) Business Days prior
to each Payment Date for the immediately preceding Collection Period and which amounts, together with any other amounts owing, shall be paid by the Depositor. 

Section 6. Indemnification by the Custodian. 

(a) The Custodian agrees to indemnify the Depositor, the Servicer and the Issuer for any and all liabilities, obligations, losses, damage,
payments, costs or expenses of any kind whatsoever (including, but not limited to, the reasonable fees and expenses of counsel, court costs and costs of investigation) that may be imposed upon, incurred by or asserted against the Depositor, the
Servicer or the Issuer or any of their respective officers, directors, employees, agents, attorneys and successors and assigns as the result of any act or omission in any way relating to the maintenance and custody by the Custodian of the Loan
Notes, that constitutes gross negligence, bad faith or willful misconduct on the part of the Custodian; provided, however, that the Custodian shall not be liable for any portion of any such liabilities, obligations, losses, damages,
payments or costs or expenses due to the willful misconduct, bad faith or gross negligence of the Issuer or any of its respective officers, directors, employees or agents thereof. The provisions of this Section 6(a) shall survive the
resignation or removal of the Custodian and the termination of this Agreement. 
 (b) The Depositor agrees to indemnify and hold harmless
the Custodian against any and all claims, losses, liabilities, damages or expenses (including, but not limited to, reasonable attorneys’ fees, court costs and costs of investigation) arising out of or in connection with this Agreement that may
be imposed upon, incurred by or asserted against the Custodian; 

  
 -6- 

 
provided that this Section 6(b) shall not relieve the Custodian from liability for its willful misconduct, bad faith or gross negligence. The provisions of this Section 6(b)
shall survive the resignation or removal of the Custodian and the termination of this Agreement. 
 Section 7. Limitation of
Liability; Regarding the Custodian. 
 (a) Except as specifically set forth herein, in connection with the Custodian’s timely
performance of its obligations and duties hereunder, the Custodian shall not be liable to any person for any loss, claim, damage, liability or expense resulting from or arising out of any act or failure to act by it, other than for any loss, claim,
damage, liability or expense arising out of the Custodian’s willful misconduct, gross negligence or reckless disregard of its obligations hereunder. The obligations of the Custodian shall be determined solely by the express provision of this
Agreement. 
 (b) Except as specifically set forth herein, the Custodian shall be under no duty or obligation to inspect, review or examine
the Loans or Loan Notes to determine the contents thereof or whether such contents are genuine, enforceable or appropriate for the represented purpose or if they are other than what they purport to be on their face. 

(c) The Servicer shall furnish a list to the Custodian of persons authorized to act on behalf of the Servicer for the purpose of transmitting
instructions to the Custodian concerning the Loan Notes (and shall update such list from time to time when there are changes therein). An initial list is attached hereto as Exhibit D. The Custodian shall have no duty to confirm whether the
information on Exhibit D is current. Unless and until written notice of any changes to the listing of authorized persons shall be delivered to the Custodian, the Custodian shall be entitled to assume that the most recent such information so
provided is current. The Custodian may assume the genuineness of, and may rely on, any written notice or communication from any such person, without further verification, that the Custodian believes is from such authorized person, and shall be
protected in doing so. 
 (d) The Custodian may consult with counsel with regard to legal questions arising out of or in connection with
this Agreement, and the advice or opinion of such counsel shall be full and complete authorization and protection in respect of any action taken, omitted or suffered by the Custodian in reliance, in good faith, and in accordance therewith. 

(e) The Custodian shall not be responsible or liable for, and makes no representation or warranty with respect to, the validity, adequacy or
perfection of any lien upon, or security interest in, any Loan or Loan Note purported to be granted at any time pursuant to the Indenture. 

(f) Notwithstanding anything to the contrary herein, the Custodian shall not be liable for any delays in performance if such delay could not
be prevented by the exercise of reasonable diligence by the Custodian and such delay was beyond its control, including, but not limited to, fire, flood, epidemic, unusually severe weather, strike, acts of the Issuer, acts of the Servicer,
restriction by civil or military authority in their sovereign or contractual capacities, transportation failure, or inability to obtain labor. The Custodian agrees to promptly notify the Issuer, the Indenture Trustee and the Servicer of any event
that will cause any such delay or failure to perform the Custodian’s obligations hereunder. In the event of any such delay, performance shall be extended for so long as such period of delay persists. 

  
 -7- 

 (g) The Custodian shall be under no responsibility or duty with respect to the disposition of any
Loan or Loan Note while such Loan or Loan Note is not in its possession. 
 (h) In no event shall any of the parties hereto or their
directors, affiliates, officers, agents, or employees be held liable for any punitive, special, indirect or consequential damages resulting from any action taken or omitted to be taken by it or them hereunder, regardless of the form of action or
whether it has been advised of the likelihood of such damages. 
 (i) The Custodian may retain subcontractors to perform any of the services
to be performed by it hereunder; provided, however, that any subcontractors will be expected to comply with the terms of this Agreement to the full extent required of the Custodian; provided further that the Custodian
shall remain primarily responsible for, and liable to the other parties hereto in the event of, any breach in connection with any acts or omissions of any such subcontractor in performing the Custodian’s obligations pursuant to this Agreement.
Upon request by the Servicer, the Custodian agrees to deliver a list of all subcontractors retained by the Custodian with respect to the custody of the Loan Notes pursuant to this Agreement, within five (5) Business Days following receipt of
such request. 
 (j) The Custodian shall have no implied duties, fiduciary or otherwise, beyond the express duties set forth herein. If the
Custodian shall request instructions from the Servicer or Indenture Trustee (acting at the direction of the Required Noteholders) with respect to any act, action or failure to act in connection with this Agreement, the Custodian shall be entitled to
refrain from taking such action and continue to refrain from acting unless and until the Custodian shall have received written instructions from the Servicer or Indenture Trustee (acting at the direction of the Required Noteholders) without
incurring any liability therefor to the Servicer, the Indenture Trustee, the Noteholders or any other Person. 
 (k) The Custodian shall not
be required to expend or risk its own funds or otherwise to incur financial liability (other than expenses or liabilities that are expressly provided to be the responsibility of the Custodian under the terms of this Agreement) in the performance of
its duties hereunder if there shall be reasonable grounds for the Custodian to believe that repayment of such funds, or adequate indemnity for such financial liability, is not reasonably assured to it. 

(l) In the event that any Loan Note shall be attached, garnished or levied upon by any court order, or that the delivery thereof shall be
stayed or enjoined by an order of a court, or that any order, judgment or decree shall be made or entered by any court order affecting the property deposited or held under this Agreement, the Custodian (i) shall provide prompt written notice of
any such occurrence to the other parties to this Agreement, and (ii) is hereby authorized, in its sole discretion, to obey and comply with all writs, orders or decrees so entered or issued, and in the event that the Custodian obeys or complies
with any such writ, order or decree, it shall not be liable to the Issuer, the Issuer Loan Trustee for the benefit of the Issuer, the Indenture Trustee, the Noteholders or any other Person by reason of such compliance notwithstanding that such writ,
order or decree be subsequently reversed, modified, annulled, set aside or vacated. 

  
 -8- 

 (m) In the absence of bad faith or willful misconduct on the part of Custodian, the Custodian may
conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any request, instructions, certificate, opinion or other document furnished to the Custodian, reasonably believed by the Custodian to be
genuine, and to have been signed or presented by the proper party or parties. 
 Section 8. Representations and Warranties of the
Custodian. By its execution and delivery of this Agreement, the Custodian makes the following representations and warranties: 

(a) Organization and Good Standing. The Custodian has been duly organized and is validly existing and in good standing
under the laws of its jurisdiction of organization, with power, authority and legal right to own its properties and to conduct its business as such properties are currently owned and such business is currently conducted, and has power, authority and
legal right to enter into and perform its obligations under this Agreement; 
 (b) Due Qualification. The Custodian is
duly qualified to do business and is in good standing, and has obtained all necessary licenses and approvals, in all jurisdictions where the failure to do so would materially and adversely affect the performance of its obligations under this
Agreement; 
 (c) Power and Authority. The Custodian has the power and authority to execute and deliver this Agreement
and to carry out the terms hereof, and the execution, delivery and performance of this Agreement have been duly authorized by the Custodian by all necessary corporate action; 

(d) Binding Obligation. This Agreement shall constitute the legal, valid and binding obligation of the Custodian,
enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditor’s rights generally and by equitable limitations on the
availability of specific remedies, regardless of whether such enforceability is considered in a proceeding in equity or at law; 

(e) No Violation. The execution and delivery of this Agreement, the consummation of the transactions contemplated by
this Agreement, and the fulfillment of the terms hereof, shall not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time, or both) a default under, the certificate of
incorporation or bylaws of the Custodian, or any indenture, agreement, mortgage, deed of trust or other instrument to which the Custodian is a party or by which it is bound, or result in the creation or imposition of any adverse claim upon any of
its properties pursuant to the terms of any such indenture, agreement, mortgage, deed of trust or other instrument, other than this Agreement, or violate any law, order, rule or regulation applicable to the Custodian of any court or of any federal
or state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Custodian or any of its properties; 

  
 -9- 

 (f) No Proceedings. There are no proceedings or investigations pending or,
to the Custodian’s knowledge, threatened against the Custodian, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over the Custodian or its properties
(1) asserting the invalidity of this Agreement, (2) seeking to prevent the consummation of any of the transactions contemplated by this Agreement or (3) seeking any determination or ruling that might materially and adversely affect
the performance by the Custodian of its obligations under, or the validity or enforceability of, this Agreement; 
 (g) No
Consents. The Custodian is not required to obtain the consent of any other party or any consent, license, approval or authorization, or registration or declaration with, any governmental authority, bureau or agency in connection with the
execution, delivery, performance, validity or enforceability of this Agreement; and 
 (h) Compliance with Law. The
Custodian is in compliance in all material respects with the Requirements of Law and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (1) such Requirements of Law or order,
writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted or (2) the failure to comply therewith, either individually or in the aggregate, could not reasonably be expected to have a material
adverse effect (“Adverse Effect”). 
 Section 9. Effective Period, Termination, and Amendment; Interpretive and
Additional Provisions. 
 (a) This Agreement shall become effective as of the date hereof and shall continue in full force and effect
until terminated as hereinafter provided. This Agreement may be terminated by any party by giving written notice to the other parties, such termination to take effect no sooner than sixty (60) days after the date of such notice. 

(b) This Agreement may be amended from time to time by the parties hereto by a written instrument signed by each of them, but without consent
of any of the Noteholders, (i) to correct or supplement any provisions herein which may be inconsistent with any other provisions herein, or (ii) to add any other provisions with respect to matters or questions arising under this Agreement
which shall not be inconsistent with the provisions of this Agreement; provided, however, that such action shall not adversely affect in any material respect the interest of any of the Noteholders as evidenced by an Officer’s
Certificate of the Issuer to such effect. Additionally, this Agreement may be amended from time to time by the parties hereto by a written instrument signed by each of them, but without the consent of any of the Noteholders; provided that
(i) the Issuer shall have delivered to the Indenture Trustee an Officer’s Certificate, dated the date of any such amendment, stating that the Issuer reasonably believes that such amendment will not have an Adverse Effect and (ii) the
Rating Agency Condition shall have been satisfied with respect to any such amendment. 

  
 -10- 

 (c) This Agreement may also be amended from time to time by the parties hereto with the consent
of the Required Noteholders, 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. 

(d) Upon any termination or amendment of this Agreement, the Indenture Trustee, in the case of amendments, and the party seeking termination,
in the case of termination, shall give written notice to the Servicer, who shall deliver such notice to the Rating Agencies. As promptly as possible after receipt of notice of termination of this Agreement, the Custodian shall deliver the Loan Notes
to the Indenture Trustee on behalf of the Noteholders and at the Servicer’s expense, at such place or places as the Indenture Trustee may designate, and the Servicer (or after the occurrence of a Servicer Default, the Indenture Trustee), or its
agent, as the case may be, shall act as custodian for such Loan Notes on behalf of the Noteholders (in the case of the Indenture Trustee, until such time as a successor Custodian has been appointed). If, within seventy-two (72) hours after the
termination of this Agreement, the Custodian has not delivered the Loan Notes in accordance with the preceding sentence, the Servicer (or the Indenture Trustee, as applicable) may enter the premises of the Custodian and remove the Loan Notes from
such premises. 
 (e) In connection with the administration of this Agreement, the parties may agree from time to time upon the
interpretation of the provisions of this Agreement as may in their joint opinion be consistent with the general tenor and purposes of this Agreement, any such interpretation to be signed by all parties and annexed hereto. 

Section 10. Applicable Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

EACH OF THE PARTIES HERETO HEREBY SUBMITS TO THE NONEXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF
NEW YORK AND OF ANY NEW YORK STATE COURT SITTING IN THE COUNTY OF NEW YORK FOR PURPOSES OF ALL LEGAL PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER TRANSACTION DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH OF
THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT AND ANY CLAIM THAT ANY SUCH
PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. NOTHING IN THIS SECTION 10 SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO BRING ANY ACTION OR PROCEEDING AGAINST ANY OTHER PARTY HERETO OR ANY OF THEIR PROPERTY IN THE
COURTS OF OTHER JURISDICTIONS. 

  
 -11- 

 EACH OF THE PARTIES HERETO HEREBY WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY
DISPUTE, WHETHER ARISING IN CONTRACT, TORT OR OTHERWISE, AMONG ANY OF THEM ARISING OUT OF, CONNECTED WITH, RELATING TO AN INCIDENT TO THE RELATIONSHIP BETWEEN THEM IN CONNECTION WITH THIS AGREEMENT OR THE OTHER TRANSACTION DOCUMENTS. 

Section 11. Notices. All demands, notices and communications hereunder shall be in writing, electronically delivered or mailed,
and shall be deemed to have been duly given upon receipt: 
  

	 	(a)	in the case of the Custodian, to: 

 Wells Fargo Bank, N.A. 

Attention: Corporate Trust Services/Structured Products Services 

Sixth Street and Marquette Avenue 

MAC N9311-161 
 Minneapolis,
Minnesota 55479 
 Telephone: (612) 667-7181 

Facsimile: (612) 667-3464 

marianna.c.stershic@wellsfargo.com 
  

	 	(b)	in the case of the Servicer, to: 

 OneMain Financial, Inc. 

300 St. Paul Place 
 Baltimore,
MD 21202 
 Attention: Oona Robinson 

Telephone: (410) 332-7723 

oona.robinson@citi.com 
 with a
copy to: 
 OneMain Financial, Inc. 

300 St. Paul Place 
 Baltimore,
MD 21202 
 Attention: Office of General Counsel 
  

	 	(c)	in the case of the Issuer, to: 

 OneMain Financial Issuance Trust 2014-2 

c/o Wilmington Trust, National Association, as Owner Trustee 

Rodney Square North 
 1100 North
Market Street 
 Wilmington, Delaware 19890 

Attention: Corporate Trust Administration 

Email address: OMFIT.2014-2@citi.com 

  
 -12- 

 with a copy to the Administrator: 

OneMain Financial, Inc. 
 300
St. Paul Place 
 Baltimore, MD 21202 

Attention: Oona Robinson 
 Tel:
(410) 332-7723 
 oona.robinson@citi.com 

with a copy to: 
 OneMain
Financial, Inc. 
 300 St. Paul Place 

Baltimore, MD 21202 
 Attention:
Office of General Counsel 
  

	 	(d)	in the case of the Depositor, to: 

 OneMain Financial Funding II, LLC 

300 St. Paul Place 
 BSP15 

Baltimore, MD 21202 
 Telephone:
(410) 332-2964 
 OMF.FundingII.LLC@citi.com 

with a copy to: 
 OneMain
Financial, Inc. 
 300 St. Paul Place 

Baltimore, MD 21202 
 Attention:
Office of General Counsel 
  

	 	(e)	in the case of the Indenture Trustee, to: 

 Wells Fargo Bank, N.A. 

Attention: Corporate Trust Services/Structured Products Services 

Sixth Street and Marquette Avenue 

MAC N9311-161 
 Minneapolis,
Minnesota 55479 
 Telephone: (612) 667-7181 

Facsimile Number: (612) 667-3464 
  

	 	(f)	in the case of the Issuer Loan Trustee, to: 

 Wells Fargo Bank, N.A. 

Attention: Corporate Trust Services/Structured Products Services 

  
 -13- 

 Sixth Street and Marquette Avenue 

MAC N9311-161 
 Minneapolis,
Minnesota 55479 
 Telephone: (612) 667-7181 

Facsimile: (612) 667-3464 

marianna.c.stershic@wellsfargo.com 
  

	 	(g)	in the case of the Back-up Servicer, to: 

 Wells Fargo Bank, N.A. 

Attention: Corporate Trust Services/Structured Products Services 

Sixth Street and Marquette Avenue 

MAC N9311-161 
 Minneapolis,
Minnesota 55479 
 Telephone: (612) 667-7181 

Facsimile: (612) 667-3464 

marianna.c.stershic@wellsfargo.com 
  

	 	(h)	in the case of notice to a Rating Agency, at the following addresses: 

 Standard &
Poor’s Ratings Services 
 55 Water Street, 41st Floor 

New York, NY 10041 
 Attention:
Timothy Bartl 
 Email address: structuredcreditreports@sandp.com 

and 
 DBRS, Inc. 

140 Broadway, 35th Floor 
 New
York, NY 10005 
 Attention: Eric Rapp 

Email address: erapp@dbrs.com, 
 or at such
other address as shall be designated by such party in a written notice to the other parties. Where this Agreement provides for notice or delivery of documents to the Rating Agency, failure to give such notice or deliver such documents shall not
affect any other rights or obligations created hereunder. 
 Section 12. Limited Recourse. 

(a) Notwithstanding anything to the contrary contained herein, no recourse under or with respect to any obligation, covenant or agreement of
the Issuer as contained in this Agreement or any of the other Transaction Documents or any other agreement, instrument or document to which the Issuer is a party shall be had against any incorporator, stockholder, affiliate, officer, employee or
director of the Issuer by the enforcement of any assessment or by any legal or equitable proceeding, by virtue of any statute or otherwise; it being expressly 

  
 -14- 

 
agreed and understood that the agreements of the Issuer contained in this Agreement and all other agreements, instruments and documents entered into pursuant hereto or in connection herewith are,
in each case, solely corporate obligations of the Issuer. Notwithstanding any provisions contained in this Agreement to the contrary, the Issuer shall not, and shall not be obligated to, pay any fees, costs, indemnified amounts or expenses due
pursuant to this Agreement other than in accordance with the order of priorities set forth in Section 8.06 of the Indenture. Any amount which the Issuer does not pay pursuant to the operation of the preceding sentence shall not constitute a
claim (as defined in §101 of the United States Bankruptcy Reform Act of 1978 (11 U.S.C. §101, et seq.), as amended from time to time) against, or obligation of, the Issuer for any such insufficiency unless and until funds are available for
the payment of such amounts as aforesaid. 
 (b) Notwithstanding anything to the contrary contained herein, no recourse under or with
respect to any obligation, covenant or agreement of the Depositor as contained in this Agreement or any of the other Transaction Documents or any other agreement, instrument or document to which the Depositor is a party shall be had against any
incorporator, stockholder, affiliate, officer, employee or director of the Depositor by the enforcement of any assessment or by any legal or equitable proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that
the agreements of the Depositor contained in this Agreement and all other agreements, instruments and documents entered into pursuant hereto or in connection herewith are, in each case, solely corporate obligations of the Depositor. Notwithstanding
any provisions contained in this Agreement to the contrary, the Depositor shall not, and shall not be obligated to, pay any fees, costs, indemnified amounts or expenses due pursuant to this Agreement until payment in full of all amounts that the
Depositor is obligated to deposit in the Collection Account and the Principal Distribution Account pursuant to the Loan Purchase Agreement or the Sale and Servicing Agreement; provided, however, that the Noteholders shall be entitled to the
benefits of the subordination of the Collections allocable to the Trust Certificate to the extent provided in the Indenture. Any amount which the Depositor does not pay pursuant to the operation of the preceding sentence shall not constitute a claim
(as defined in §101 of the United States Bankruptcy Reform Act of 1978 (11 U.S.C. §101, et seq.), as amended from time to time) against, or obligation of the Depositor for, any such insufficiency unless and until funds are available for
the payment of such amounts as aforesaid. 
 (c) The parties hereto agree that the provisions of this Section 12 shall survive the
resignation or removal of any such party to this Agreement and the termination of this Agreement. 
 Section 13. No Bankruptcy
Petition. 
 (a) To the fullest extent permitted by law and notwithstanding any prior termination of this Agreement, each of the
Custodian, the Servicer, the Depositor, the Back-up Servicer, the Issuer Loan Trustee and the Indenture Trustee agrees that it shall not file, commence, join, or acquiesce in a petition or proceeding, or cause the Issuer to file, commence, join, or
acquiesce in a petition or proceeding, that causes (i) the Issuer to be a debtor under any Debtor Relief Law or (ii) a trustee, conservator, receiver, liquidator, or similar official to be appointed for the Issuer or any substantial part
of its property. 

  
 -15- 

 (b) To the fullest extent permitted by law and notwithstanding any prior termination of this
Agreement, each of the Custodian, the Servicer, the Issuer, the Back-up Servicer, the Issuer Loan Trustee and the Indenture Trustee agrees that it shall not file, commence, join, or acquiesce in a petition or proceeding, or cause the Depositor to
file, commence, join, or acquiesce in a petition or proceeding, that causes (i) the Depositor to be a debtor under any Debtor Relief Law or (ii) a trustee, conservator, receiver, liquidator, or similar official to be appointed for the
Depositor or any substantial part of its property. 
 (c) The parties hereto agree that the provisions of this Section 13 shall survive
the resignation or removal of any such party to this Agreement and the termination of this Agreement. 
 Section 14.
Definitions. Certain capitalized terms in this Agreement are defined in, and shall have the respective meanings assigned to them in, Schedule II to the Sale and Servicing Agreement (the “Definitions Schedule”). The rules of
construction set forth in Part B of the Definitions Schedule shall be applicable to this Agreement. In addition, with respect to all terms used in this Agreement, the singular includes the plural and the plural the singular; words importing any
gender include the other gender; references to “writing” include printing, typing, lithography, and other means of reproducing words in a visible form; references to agreements and other contractual instruments include schedules and
exhibits thereto and all subsequent amendments, modifications and changes thereto or therein entered into in accordance with their respective terms and not prohibited by this Agreement; references to Persons include their permitted successors and
assigns; and the terms “include” or “including” mean “include without limitation” or “including without limitation.” 

Section 15. Confidentiality. The Custodian acknowledges that the Loan Notes contain “personally identifiable
information” and information which the Servicer, the Subservicers and the Indenture Trustee deem “confidential,” “proprietary” and “secret.” The Custodian shall hold, and shall at all times ensure that its
employees and agents hold, in confidence all information contained in the Loan Notes, and will prevent (a) the disclosure by it or its agents or employees to others of any such proprietary, confidential or secret information of the Indenture
Trustee, the Servicer, the Subservicers and the Loan Obligors of the Loans or (b) the use of such information other than for the purposes set forth herein, unless authorized to do so in writing by the Indenture Trustee, the Servicer and the
Subservicers. 
 Section 16. Severability. If any one or more of the covenants, agreements, provisions or terms of this
Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Agreement and shall in no way affect the
validity or enforceability of the other provisions of this Agreement. 
 Section 17. Counterparts. For the purpose of
facilitating its execution and for other purposes, this Agreement may be executed simultaneously in any number of counterparts, each of which shall be deemed to be an original, and all of which shall constitute but one and the same instrument.
Delivery of an executed signature page to this Agreement by facsimile transmission or other electronic image scan transmission (e.g., “PDF” or “tif” via email) shall be as effective as delivery of a manually signed counterpart of
this Agreement. 

  
 -16- 

 Section 18. Back-up Servicer. It is expressly understood that the Back-up Servicer is
a signatory hereto in the event it becomes the Servicer pursuant to the terms and conditions of the Indenture and shall have no duties or obligations with respect to this Agreement until such time. 

Section 19. Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their
respective successors and assigns. 
 Section 20. Business Continuity Plan. The Custodian will maintain and, upon request,
provide to the Servicer a disaster recovery plan in support of the processing and related functions it performs for the Servicer under this Agreement. 

Section 21. Regulatory Inquiries. Each of the Custodian and the Servicer agrees to (a) provide access to the Loan Notes and
related documentation in its possession for inspection by governmental regulatory agencies and (b) assist in the preparation of any routine reports required by regulatory bodies, if any. 

Section 22. Assignment. Except as otherwise provided herein, this Agreement may not be assigned by any party without the prior
written consent of the remaining parties. 
 Section 23. Limitation of Liability. It is expressly understood and agreed by the
parties hereto that (a) this Agreement is executed and delivered by Wilmington Trust, National Association (“Wilmington Trust”), not individually or personally but solely as Owner Trustee of the Issuer, in the exercise of the
powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by Wilmington
Trust but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Wilmington Trust, individually or personally, to perform any covenant, either expressed or
implied, as contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (d) Wilmington Trust has made no investigation as to the accuracy or
completeness of any representations and warranties made by the Issuer in this Agreement and (e) under no circumstances shall Wilmington Trust be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for
the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents. 

Section 24. Custodian Acknowledgment. The Custodian covenants and warrants to the Issuer and the Indenture Trustee and agrees that
(a) as of the date of delivery of any Loan Note, in its capacity as Custodian hereunder, the Custodian holds no adverse interest, by way of security or otherwise, in any Loan or Loan Agreement and (b) the execution of this Agreement and
the custodial relationship hereunder does not create any interest, by way of security or otherwise, of the Custodian, in its capacity as Custodian hereunder, in or to any Loan or Loan Agreement, other than the Custodian’s express rights as
Custodian hereunder. 

  
 -17- 

 [Remainder of page intentionally left blank] 

  
 -18- 

 
					
	WELLS FARGO BANK, N.A., as Custodian
		
	By:		 /s/ Marianna C. Stershic

			Name:		Marianna C. Stershic
			Title:		Vice President
	
	WELLS FARGO BANK, N.A., as Indenture Trustee
		
	By:		 /s/ Marianna C. Stershic

			Name:		Marianna C. Stershic
			Title:		Vice President
	
	WELLS FARGO BANK, N.A., as Back-up Servicer
		
	By:		 /s/ Marianna C. Stershic

			Name:		Marianna C. Stershic
			Title:		Vice President
	
	WELLS FARGO BANK, N.A., not in its individual capacity, but solely as Issuer Loan Trustee
		
	By:		 /s/ Marianna C. Stershic

			Name:		Marianna C. Stershic
			Title:		Vice President

  
 [Signature Page to
Custodian Agreement (OMF 2014-2)] 

 
					
	 ONEMAIN FINANCIAL, INC.,
 as
Servicer

		
	By:		 /s/ Oona Robinson

			Name:		Oona Robinson
			Title:		Vice President & Assistant Treasurer
	
	 ONEMAIN FINANCIAL FUNDING II, LLC,

as Depositor

		
	By:		 /s/ Oona Robinson

			Name:		Oona Robinson
			Title:		Vice President & Assistant Treasurer

  
 [Signature Page to
Custodian Agreement (OMF 2014-2)] 

 
					
	 ONEMAIN FINANCIAL ISSUANCE TRUST 2014-2,

as Issuer

		
	By:		WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Owner Trustee of the Issuer
		
	By:		 /s/ Rachel L. Simpson

			Name:		Rachel L. Simpson
			Title:		Assistant Vice President

  
 [Signature Page to
Custodian Agreement (OMF 2014-2)] 

 EXHIBIT A-1 

FORM OF INITIAL CUSTODIAN’S ACKNOWLEDGMENT; 

FORM OF POST-CLOSING CUSTODIAN’S ACKNOWLEDGMENT 

To: OneMain Financial, Inc. 
 300 St. Paul Place 

Baltimore, MD 21202 
 Fax:
[                    ] 
 Reference is
made to the Custodian Agreement, dated as of [July 30/August 29], 2014 (the “Custodian Agreement”), among ONEMAIN FINANCIAL ISSUANCE TRUST 2014-2, as Issuer, ONEMAIN FINANCIAL, INC., as Servicer (in such capacity the
“Servicer”), ONEMAIN FINANCIAL FUNDING II, LLC, as Depositor, and WELLS FARGO BANK, N.A., as Issuer Loan Trustee, Custodian, Indenture Trustee and Back-up Servicer. Capitalized terms used herein shall have the respective meanings
ascribed thereto in the Custodian Agreement. 
 The undersigned does hereby confirm to the Servicer that, [as of the Closing Date/as of the
Post-Closing Delivery Date], (i) the undersigned has received each of the Loan Notes described on Schedule I attached hereto and (ii) it has not received the Loan Notes listed on the most recent Loan Schedule provided by the
Servicer to the Custodian that are described on Schedule II attached hereto and (iii) it has cited the exceptions described on Schedule III attached hereto. 

 

			
	Date:		  

  

			
	Very truly yours,
	
	 WELLS FARGO BANK, N.A.,
 as
Custodian

		
	By		  

	Name:		  

	Title:		  

 SCHEDULE I 

LOAN NOTES RECEIVED 

(To be attached to Custodian’s Acknowledgment) 

 SCHEDULE II 

LOAN NOTES NOT RECEIVED 

(To be attached to Custodian’s Acknowledgment) 

 SCHEDULE III 

EXCEPTIONS 
 (To be
attached to Custodian’s Acknowledgment) 

 EXHIBIT A-2 

FORM OF SUBSEQUENT CUSTODIAN’S ACKNOWLEDGMENT 

To: OneMain Financial, Inc. 
 300 St. Paul Place 

Baltimore, MD 21202 
 Fax:
[                    ] 
 Reference is
made to the Custodian Agreement, dated as of [—], 201[—] (the “Custodian Agreement”), among ONEMAIN FINANCIAL ISSUANCE TRUST
2014-2, as Issuer, ONEMAIN FINANCIAL, INC., as Servicer (in such capacity the “Servicer”), ONEMAIN FINANCIAL FUNDING II, LLC, as Depositor, and WELLS FARGO BANK, N.A., as Issuer Loan Trustee, Custodian, Indenture Trustee and Back-up
Servicer. Capitalized terms used herein shall have the respective meanings ascribed thereto in the Custodian Agreement. 
 The undersigned
does hereby confirm to the Servicer that, since the date of the Post-Closing Custodian’s Acknowledgment or the last Subsequent Custodian’s Acknowledgment, as the case may be, (i) the undersigned has received each of the Loan Notes
described on Schedule I attached hereto and (ii) it has not received the Loan Notes listed on the most recent Loan Schedule provided by the Servicer to the Custodian that are described on Schedule II attached hereto. 

 

			
	Date:		  

  

			
	Very truly yours,
	
	 WELLS FARGO BANK, N.A.,
 as
Custodian

		
	By		  

	Name:		  

	Title:		  

 SCHEDULE I 

LOAN NOTES RECEIVED 

(to be attached to Custodian’s Acknowledgment) 

 SCHEDULE II 

LOAN NOTES NOT RECEIVED 

(to be attached to Custodian’s Acknowledgment) 

 EXHIBIT B 

FORM OF RELEASE DIRECTION 
  

			
	To:		Wells Fargo ABS Custody Vault
			1055 10th Avenue SE
			MAC N9401-011
			Minneapolis, Minnesota 55414
		
	Re:		Custodian Agreement - Release Direction

 Reference is made to the Custodian Agreement, dated as of July 30, 2014 (the “Custodian
Agreement”), among Wells Fargo Bank, N.A., as Custodian, OneMain Financial, Inc., as Servicer, OneMain Financial Funding II, LLC, as Depositor and Wells Fargo Bank, N.A., as Indenture Trustee, Issuer Loan Trustee and Back-up Servicer.
Capitalized terms used herein shall have the respective meanings ascribed thereto in the Custodian Agreement. 
 In connection with the
administration of the Loan Notes held by you as the Custodian on behalf of the Servicer, the undersigned 

			
	authorized person requests the release of the Loan Notes described below, for the following reason:		  

			
	  
		.

 By checking the box below, the undersigned certifies that all of the Loan Notes described below are either
Montana Loan Notes or Minnesota Loan Notes, each to be accorded treatment in accordance with Section 3(c) of the Custodian Agreement [check if Montana Loan Notes or Minnesota Loan Notes]: 

 ̈ This Release Request relates only to Montana Loan Notes or Minnesota Loan
Notes. 
  

			
	Deliver to:
	
	  

	  

	  

	  

 The Loan Notes to be released under this Release Direction are those indicated on the electronic data file
delivered contemporaneously with this Release Direction. 
  

			
	ONEMAIN FINANCIAL, INC., as Servicer

  

					
	Servicer’s Authorized Requestor:		  
		

			
	Name:		  

	Title:		  

	Date:		  

 (Electronic signature on file) 

 EXHIBIT C 

Custodian Fee Schedule 
  

					
	 New File Receipt:
Per file; file quality check of data elements against master data provided by OneMain Financial and
reinstatement of released files
		$	2.50	  
	 File Release/Rejected Release requests (to four or less locations):
Per file or document; excludes shipping expense
		$	2.00	  
	 File Release/Rejected Release requests (sent to individual offices):
Per file or document; excludes shipping expense
		$	4.50	  
	 Rush Release request:
Per file or document released on a rush request
		$	4.00	  
	 Trailing Documents:
Per document; includes filing of documents in the file
		$	1.00	  
	 Monthly Safekeeping:
An annual per file fee charged monthly ($.15 per month)
		$	1.80	  
	 File Pull (if necessary):
Per file
		$	1.00	  
	 File Folder (if necessary):
Per file, with label
		$	1.25	  
	 Document Copies or Images (if necessary):
Per page document or image fee
		$	1.00	  
	 Inter-filing fee (if necessary):
Per file; assumes the receipt of loan files in loan number order
		$	0.50	  

  
 C-1 

 EXHIBIT D 

  
 D-1 

 AUTHORIZED PERSONS 

 

							
	NAME	  	EMAIL	  	SIGNATURE
	1.	  	Patricia Cosgrove	  		  	 /s/ Patricia Cosgrove

				
	2.	  	Scott Prather	  		  	 /s/ Scott Prather

				
	3.	  	Oona Robinson	  		  	 /s/ Oona Robinson

				
	4.	  	Paige Burton	  		  	 /s/ Paige Burton

				
	5.	  	Julie Levi	  		  	 /s/ Julie Levi

				
	6.	  	Gale Ressler	  		  	 /s/ Gale Ressler

				
	7.	  	Jody Anderson	  		  	 /s/ Jody Anderson

				
	8.	  	Michael Brennan	  		  	 /s/ Michael Brennan

				
	9.	  	Drew Tanenbaum	  		  	 /s/ Drew Tanenbaum

				
	10.	  	Justin Krawlzik	  		  	 /s/ Justin Krawlzik

				
	11.	  	Darin Messick	  		  	 /s/ Darin Messick

 [Signature Page to Custodian Agreement (OMF 2014-2)] - Exhibit D 

 APPENDIX I 

STATEMENT OF WORK 
  

	Section 1.	Delivery of the Loan Notes 

 Reference is made to the Custodian Agreement, dated as of
July 30, 2014 (the “Custodian Agreement”), among Wells Fargo Bank, N.A., as Custodian, OneMain Financial, Inc., as Servicer, OneMain Financial Funding II, LLC, as Depositor and Wells Fargo Bank, N.A., as Indenture Trustee,
Issuer Loan Trustee and Back-up Servicer. Defined terms used herein and not otherwise defined shall have the meanings specified in the Custodian Agreement. 

An Obligor will execute a Loan Note in connection with the related Loan, and the Servicer shall send such Loan Note to the Custodian to be
held by the Custodian pursuant to the Custodian Agreement. The Servicer expects to send Loan Notes to the Custodian from time to time pursuant to the Custodian Agreement. The Servicer shall provide each Loan Note in a legal file folder containing a
bar coded cover sheet, the original Loan Note, and any other documents delivered to Custodian with such Loan Note stapled in the top left corner. In connection with the delivery of Loan Notes representing Initial Loans by the Servicer to the
Custodian on the Closing Date, the Custodian will deliver an initial custodian’s acknowledgment substantially in the form of Exhibit A-1 to the Custodian Agreement as required pursuant to the Custodian Agreement (the
“Initial Custodian’s Acknowledgment”). In connection with the delivery of Loan Notes representing Initial Loans and Additional Loans by the Servicer to the Custodian on or prior to the Post-Closing Delivery Date, the Custodian
will deliver a post-closing custodian’s acknowledgment substantially in the form of Exhibit A-1 to the Custodian Agreement as required pursuant to the Custodian Agreement (the “Posting-Closing Custodian’s
Acknowledgment”). In connection with the delivery of Loan Notes representing Additional Loans by the Servicer to the Custodian from time to time following the Closing Date, the Custodian will deliver a subsequent custodian’s
acknowledgment substantially in the form of Exhibit A-2 to the Custodian Agreement (the “Subsequent Custodian’s Acknowledgment”), as and when provided for in the Custodian Agreement. 

 

	Section 2.	Certification 

 The Custodian shall examine each Loan Note to certify the items
(1) through (10) listed below, and as applicable, to report any exceptions to these certifications. 
  

	 	1.	First 5 (five) Characters of the Borrower(s) Last Name 

  

	 	2.	Account Number 

  

	 	3.	Date of Loan Note 

  

	 	4.	Total of Payments 

  

	 	5.	Annual Percentage Rate (APR) with an acceptable variance of 1/100th 

  

	 	6.	Amount of Standard Payment 

  

	 	7.	Number of Payments 

  

	 	8.	All pages of the Loan Note are present 

  
 1 

	 	9.	Confirmation of a borrower’s original signature 

  

	 	10.	For all Illinois Loan Notes, confirmation of an executed and completed Note Allonge and the inclusion of a Hypothecation Endorsement 

The Custodian shall examine any trailing documents prior to issuance of the Initial Custodian’s Acknowledgment, each Posting-Closing
Custodian’s Acknowledgment and each Subsequent Custodian’s Acknowledgment. 
  

	Section 3.	Release 

 The Servicer may direct the Custodian to release Loan Notes pursuant to the
terms of Section 3(c) of the Custodian Agreement. The Servicer shall establish an account with a national overnight carrier to facilitate the return of the Loan Notes. 
  

	Section 4.	Copies of Documents 

 Upon the request of the Servicer, the Custodian shall provide the
Servicer with copies of any Loan Notes within three (3) business days after request therefor; provided that, if more than 100 pages are requested by the Servicer on any Business Day, the Custodian shall have such amount of additional
time as reasonably required by the Custodian to comply with such request (such additional amount of time to be reasonably agreed to between the Servicer and the Custodian). 
  

	Section 5.	Reporting 

 The Custodian shall make available to the Servicer on a daily basis status
reports containing the information mutually agreed upon by the Custodian and the Servicer as of the date of the Custodian Agreement; provided that the information to be provided in such reports may be modified, amended or supplemented upon
mutual agreement of the Servicer and the Custodian from time to time thereafter. The Custodian shall provide the information and reports to the Servicer as may be required under the Custodian Agreement and such additional information and reports at
such times and in such a manner as may be mutually agreed to between the Servicer and the Custodian. Following the Closing Date, the Servicer, acting for itself and on behalf of the Subservicers, may notify the Custodian in writing that daily
reporting of information relating to the Loan Notes is no longer necessary. Upon any such notification from the Servicer, the Custodian shall provide future reports to the Servicer as agreed between the Servicer and the Custodian at such time. The
Custodian shall make available to the Servicer within two Business Days after the end of each calendar month an Officer’s Certificate containing an inventory report detailing accounts on hand, accounts released within the last 90 days and a
cumulative exception report. 

  
 2

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