Document:

EX-4.2

 EXHIBIT 4.2 
  

 
  

AMENDED AND RESTATED 
 TRUST
AGREEMENT 
 between 
 AFS
SENSUB CORP. 
 Seller 
 and 

WILMINGTON TRUST COMPANY 
 Owner
Trustee 
 Dated as of April 6, 2016 
  

 
  

 TABLE OF CONTENTS 

 

							
	 ARTICLE I. DEFINITIONS
	  	 	1	  
			
	 SECTION 1.1.
	 	 Capitalized Terms
	  	 	1	  
	 SECTION 1.2.
	 	 Other Definitional Provisions
	  	 	3	  
		
	 ARTICLE II. ORGANIZATION
	  	 	4	  
			
	 SECTION 2.1.
	 	 Name
	  	 	4	  
	 SECTION 2.2.
	 	 Office
	  	 	4	  
	 SECTION 2.3.
	 	 Purposes and Powers
	  	 	4	  
	 SECTION 2.4.
	 	 Appointment of Owner Trustee
	  	 	5	  
	 SECTION 2.5.
	 	 Initial Capital Contribution of Trust Estate
	  	 	5	  
	 SECTION 2.6.
	 	 Declaration of Trust
	  	 	6	  
	 SECTION 2.7.
	 	 Title to Trust Property
	  	 	6	  
	 SECTION 2.8.
	 	 Situs of Trust
	  	 	6	  
	 SECTION 2.9.
	 	 Representations and Warranties of the Depositor
	  	 	6	  
	 SECTION 2.10.
	 	 Covenants of the Certificateholder
	  	 	8	  
	 SECTION 2.11.
	 	 Federal Income Tax Treatment of the Trust
	  	 	8	  
		
	 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST
	  	 	9	  
			
	 SECTION 3.1.
	 	 Initial Ownership
	  	 	9	  
	 SECTION 3.2.
	 	 The Certificate
	  	 	9	  
	 SECTION 3.3.
	 	 Authentication of Certificate
	  	 	9	  
	 SECTION 3.4.
	 	 Registration of Transfer and Exchange of Certificate
	  	 	9	  
	 SECTION 3.5.
	 	 Mutilated, Destroyed, Lost or Stolen Certificates
	  	 	10	  
	 SECTION 3.6.
	 	 Persons Deemed Certificateholders
	  	 	11	  
	 SECTION 3.7.
	 	 Maintenance of Office or Agency
	  	 	11	  
	 SECTION 3.8.
	 	 Disposition in Whole But Not in Part
	  	 	11	  
	 SECTION 3.9.
	 	 ERISA Restrictions
	  	 	11	  
	 SECTION 3.10.
	 	 Appointment of Certificate Paying Agent
	  	 	12	  
		
	 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS
	  	 	12	  
			
	 SECTION 4.1.
	 	 Prior Notice to Holder with Respect to Certain Matters
	  	 	12	  
	 SECTION 4.2.
	 	 Action by Certificateholder with Respect to Certain Matters
	  	 	13	  
	 SECTION 4.3.
	 	 Restrictions on Certificateholder’s Power
	  	 	13	  
	 SECTION 4.4.
	 	 [Reserved]
	  	 	14	  
	 SECTION 4.5.
	 	 Action with Respect to Bankruptcy Action
	  	 	14	  
	 SECTION 4.6.
	 	 Covenants and Restrictions on Conduct of Business
	  	 	15	  
		
	 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE
	  	 	16	  
			
	 SECTION 5.1.
	 	 General Authority
	  	 	16	  
	 SECTION 5.2.
	 	 General Duties
	  	 	17	  
	 SECTION 5.3.
	 	 Action upon Instruction
	  	 	17	  
	 SECTION 5.4.
	 	 No Duties Except as Specified in this Agreement or in Instructions
	  	 	18	  

							
	 SECTION 5.5.
	 	 No Action Except under Specified Documents or Instructions
	  	 	18	  
	 SECTION 5.6.
	 	 Restrictions
	  	 	18	  
	 SECTION 5.7.
	 	 Covenants for Reporting of Repurchase Demands due to Breaches of Representations and
Warranties
	  	 	19	  
		
	 ARTICLE VI. CONCERNING THE OWNER TRUSTEE
	  	 	19	  
			
	 SECTION 6.1.
	 	 Acceptance of Trusts and Duties
	  	 	19	  
	 SECTION 6.2.
	 	 Furnishing of Documents
	  	 	20	  
	 SECTION 6.3.
	 	 Representations and Warranties
	  	 	21	  
	 SECTION 6.4.
	 	 Reliance; Advice of Counsel
	  	 	21	  
	 SECTION 6.5.
	 	 Not Acting in Individual Capacity
	  	 	22	  
	 SECTION 6.6.
	 	 Owner Trustee Not Liable for Certificate or Receivables
	  	 	22	  
	 SECTION 6.7.
	 	 Owner Trustee May Own Notes
	  	 	23	  
	 SECTION 6.8.
	 	 Payments from Owner Trust Estate
	  	 	23	  
	 SECTION 6.9.
	 	 Doing Business in Other Jurisdictions
	  	 	23	  
	 SECTION 6.10.
	 	 FATCA Information
	  	 	23	  
		
	 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE
	  	 	24	  
			
	 SECTION 7.1.
	 	 Owner Trustee’s Fees and Expenses
	  	 	24	  
	 SECTION 7.2.
	 	 Indemnification
	  	 	24	  
	 SECTION 7.3.
	 	 Payments to the Owner Trustee
	  	 	24	  
	 SECTION 7.4.
	 	 Non-recourse Obligations
	  	 	24	  
		
	 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT
	  	 	25	  
			
	 SECTION 8.1.
	 	 Termination of Trust Agreement
	  	 	25	  
		
	 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES
	  	 	26	  
			
	 SECTION 9.1.
	 	 Eligibility Requirements for Owner Trustee
	  	 	26	  
	 SECTION 9.2.
	 	 Resignation or Removal of Owner Trustee
	  	 	26	  
	 SECTION 9.3.
	 	 Successor Owner Trustee
	  	 	27	  
	 SECTION 9.4.
	 	 Merger or Consolidation of Owner Trustee
	  	 	27	  
	 SECTION 9.5.
	 	 Appointment of Co-Trustee or Separate Trustee
	  	 	28	  
		
	 ARTICLE X. MISCELLANEOUS
	  	 	29	  
			
	 SECTION 10.1.
	 	 Supplements and Amendments
	  	 	29	  
	 SECTION 10.2.
	 	 No Legal Title to Owner Trust Estate in Certificateholder
	  	 	30	  
	 SECTION 10.3.
	 	 Limitations on Rights of Others
	  	 	30	  
	 SECTION 10.4.
	 	 Notices
	  	 	30	  
	 SECTION 10.5.
	 	 Severability
	  	 	31	  
	 SECTION 10.6.
	 	 Separate Counterparts
	  	 	31	  
	 SECTION 10.7.
	 	 Assignments
	  	 	31	  
	 SECTION 10.8.
	 	 No Recourse
	  	 	31	  
	 SECTION 10.9.
	 	 Headings
	  	 	31	  

  
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	 SECTION 10.10.
	 	 GOVERNING LAW
	  	 	32	  
	 SECTION 10.11.
	 	 Servicer
	  	 	32	  
	 SECTION 10.12.
	 	 Nonpetition Covenants
	  	 	32	  
	 SECTION 10.13.
	 	 Regulation AB
	  	 	33	  
		
	 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES
	  	 	33	  
			
	 SECTION 11.1.
	 	 Establishment of Trust Accounts
	  	 	33	  
	 SECTION 11.2.
	 	 Application of Trust Funds
	  	 	33	  
	 SECTION 11.3.
	 	 Method of Payment
	  	 	34	  

 EXHIBITS 
  

			
	Exhibit A	  	Form of Certificate
	Exhibit B	  	Form of Certificate of Trust
	Exhibit C	  	Form of Notice of Repurchase Request

  
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 This AMENDED AND RESTATED TRUST AGREEMENT, dated as of April 6, 2016, between AFS SENSUB
CORP., a Nevada corporation, as depositor (the “Seller”), and WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of March 8, 2016,
between the Seller and the Owner Trustee. 
 Article I. 

Definitions 
 SECTION 1.1.
Capitalized Terms. For all purposes of this Agreement, the following terms shall have the meanings set forth below: 

“AmeriCredit” shall mean AmeriCredit Financial Services, Inc. 

“Agreement” shall mean this Trust Agreement, as the same may be amended and supplemented from time to time. 

“Bankruptcy Action” shall have the meaning assigned to such term in Section 4.5(a). 

“Basic Documents” shall mean this Agreement, the Certificate of Trust, the Purchase Agreement, the Sale and Servicing
Agreement, the Indenture, the Underwriting Agreement, the Lockbox Account Agreement, the Lockbox Processing Agreement, the Asset Representations Review Agreement and the other documents and certificates delivered in connection therewith, as the same
may be amended, restated or supplemented from time to time. 
 “BBA Partnership Audit Rules” shall mean Sections 6221
through 6241 of the Code, including any other Code provisions with respect to the same subject matter as Sections 6221 through 6241, and any regulations promulgated or proposed under any such Sections and any administrative guidance with respect
thereto. 
 “Benefit Plan Entity” shall have the meaning assigned to such term in Section 3.9. 

“Benefit Plan Investor” shall have the meaning assigned to such term in Section 3.9. 

“Certificate” means a trust certificate evidencing the beneficial interest of the Certificateholder in the Trust,
substantially in the form of Exhibit A attached hereto. 
 “Certificateholder” or “Holder” shall mean the
person in whose name a Certificate is registered on the Certificate Register. 
 “Certificate Distribution Account” shall
have the meaning assigned to such term in Section 11.1. 
 “Certificate Paying Agent” shall mean any paying agent or
co-paying agent appointed pursuant to Section 3.10 and shall initially be Wilmington Trust Company. 

 “Certificate of Trust” shall mean the Certificate of Trust in the form of
Exhibit B to be filed for the Trust pursuant to Section 3810(a) of the Statutory Trust Statute. 
 “Certificate
Register” and “Certificate Registrar” shall mean the register mentioned and the registrar appointed pursuant to Section 3.4. 

“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and Treasury Regulations promulgated
thereunder. 
 “Corporate Trust Office” shall mean, with respect to the Owner Trustee, the principal corporate trust office
of the Owner Trustee located at Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890-0001, Attention: Corporate Trust Administration, or at such other address as the Owner Trustee may designate by notice to the Depositor, or the
principal corporate trust office of any successor Owner Trustee (the address of which the successor owner trustee will notify the Depositor). 

“Depositor” shall mean the Seller in its capacity as Depositor hereunder. 

“Distribution Date” shall have the meaning set forth in the Sale and Servicing Agreement. 

“ERISA” shall have the meaning assigned to such term in Section 3.9. 

“Expenses” shall have the meaning assigned to such term in Section 7.2. 

“FATCA” shall mean Sections 1471 through 1474 of the Code and (a) any regulations or official interpretations thereof
(including any revenue ruling, revenue procedure, notice or similar guidance issued by the IRS thereunder as a precondition to relief or exemption from taxes under such Sections, regulations and interpretations), (b) any applicable agreement
entered into under Section 1471(b)(1) of the Code, and (c) any applicable intergovernmental agreement with respect to the implementation of the foregoing. 

“FATCA Information” shall mean, with respect to any Certificateholder or Holder, any form or other certification, or such
other information reasonably sufficient to eliminate the imposition of, or determine the amount of, FATCA Withholding Tax. 
 “FATCA
Withholding Tax” shall mean any required withholding or deduction of tax pursuant to FATCA. 
 “Indemnified
Parties” shall have the meaning assigned to such term in Section 7.2. 
 “Indenture” shall mean the Indenture
dated as of April 6, 2016, between the Trust and Citibank, N.A., as Trust Collateral Agent and Trustee, as the same may be amended and supplemented from time to time. 

“Owner Trust Estate” shall mean all right, title and interest of the Trust in and to the property and rights assigned to the
Trust pursuant to Article II of the Sale and Servicing Agreement, all funds on deposit from time to time in the Trust Accounts and all other property of the Trust from time to time, including any rights of the Trust pursuant to the Sale and
Servicing Agreement. 

  
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 “Majority Certificateholder” shall mean the Holder of the greatest percentage
ownership interest in the Certificate as recorded in the Certificate Register. 
 “Owner Trustee” shall mean Wilmington
Trust Company, a Delaware trust company, not in its individual capacity but solely as owner trustee under this Agreement, and any successor Owner Trustee hereunder. 

“Record Date” shall mean with respect to any Distribution Date, the close of business on the last Business Day immediately
preceding such Distribution Date. 
 “Responsible Officer” shall mean, with respect to the Owner Trustee, any officer
within the Corporate Trust Administration office of the Owner Trustee with direct responsibility for the administration of the Trust and also, with respect to a particular matter, any other officer to whom such matter is referred because of such
officer’s knowledge of and familiarity with the particular subject. 
 “Sale and Servicing Agreement” shall mean the
Sale and Servicing Agreement dated as of April 6, 2016, among the Trust, the Seller, AmeriCredit, and Citibank N.A., as Trust Collateral Agent, as the same may be amended and supplemented from time to time. 

“Secretary of State” shall mean the Secretary of State of the State of Delaware. 

“STAMP” shall have the meaning assigned to such term in Section 3.4. 

“Statutory Trust Statute” shall mean Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code § 3801 et
seq. as the same may be amended from time to time. 
 “Treasury Regulations” shall mean regulations, including proposed
or temporary regulations, promulgated under the Code. References herein to specific provisions of proposed or temporary regulations shall include analogous provisions of final Treasury Regulations or other successor Treasury Regulations. 

“Trust” shall mean the trust established by this Agreement. 

“Trust Collateral Agent” shall mean, initially, Citibank, N.A., in its capacity as collateral agent, including its successors
in interest, until and unless a successor Person shall have become the Trust Collateral Agent pursuant to the Sale and Servicing Agreement, and thereafter “Trust Collateral Agent” shall mean such successor Person. 

SECTION 1.2. Other Definitional Provisions. 

(a) Capitalized terms used herein and not otherwise defined have the meanings assigned to them in the Sale and Servicing Agreement or, if not
defined therein, in the Indenture. 

  
 3 

 (b) All terms defined in this Agreement shall have the defined meanings when used in any
certificate or other document made or delivered pursuant hereto unless otherwise defined therein. 
 (c) As used in this Agreement and in
any certificate or other document made or delivered pursuant hereto or thereto, accounting terms not defined in this Agreement or in any such certificate or other document, and accounting terms partly defined in this Agreement or in any such
certificate or other document to the extent not defined, shall have the respective meanings given to them under generally accepted accounting principles as in effect on the date of this Agreement or any such certificate or other document, as
applicable. To the extent that the definitions of accounting terms in this Agreement or in any such certificate or other document are inconsistent with the meanings of such terms under generally accepted accounting principles, the definitions
contained in this Agreement or in any such certificate or other document shall control. 
 (d) The words “hereof,”
“herein,” “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement; Section and Exhibit references contained in this
Agreement are references to Sections and Exhibits in or to this Agreement unless otherwise specified; and the term “including” shall mean “including without limitation.” 

(e) The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine
as well as to the feminine and neuter genders of such terms. 
 Article II. 

Organization 
 SECTION
2.1. Name 
 There is hereby continued a Delaware statutory trust to be known as “AmeriCredit Automobile Receivables Trust
2016-2,” in which name the Owner Trustee may conduct the business of the Trust, make and execute contracts and other instruments on behalf of the Trust and sue and be sued. 

SECTION 2.2. Office 
 The
office of the Trust shall be in care of the Owner Trustee at the Corporate Trust Office or at such other address as the Owner Trustee may designate by written notice to the Certificateholder. 

SECTION 2.3. Purposes and Powers. 

The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities: 

(a) to issue the Notes pursuant to the Indenture and the Certificate pursuant to this Agreement, and to sell the Notes; 

  
 4 

 (b) to acquire the property and assets set forth in the Sale and Servicing Agreement from the
Depositor pursuant to the terms thereof, to fund the Reserve Account and to pay the organizational, start-up and transactional expenses of the Trust; 

(c) to acquire from time to time the Owner Trust Estate, to assign, grant, transfer, pledge, mortgage and convey the Owner Trust Estate to the
Trust Collateral Agent pursuant to the Indenture for the benefit of the Trustee on behalf of the Noteholders and to hold, manage and distribute to the Certificateholder pursuant to the terms of the Sale and Servicing Agreement any portion of the
Owner Trust Estate released from the Lien of, and remitted to the Trust pursuant to, the Indenture; 
 (d) to enter into and perform its
obligations under the Basic Documents to which it is a party; 
 (e) to engage in those activities, including entering into agreements, that
are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith (including the sale, from time to time, of Receivables at the direction of the Servicer pursuant to Section 4.3(c) of the Sale
and Servicing Agreement), and the filing of state business licenses (and any renewal thereof) as prepared and instructed by the Certificateholder or Servicer, including a Sales Finance Company Application (and any renewal thereof) with the
Pennsylvania Department of Banking, Licensing Division, and a Financial Regulation Application (and any renewal thereof) with the Maryland Department of Labor, Licensing and Regulation; and 

(f) subject to compliance with the Basic Documents, to engage in such other activities as may be required in connection with conservation of
the Owner Trust Estate and the making of distributions to the Certificateholder and the Noteholders. 
 The Trust is hereby authorized to
engage in the foregoing activities. The Trust shall not engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement or the Basic Documents. 

SECTION 2.4. Appointment of Owner Trustee 

The Depositor hereby appoints the Owner Trustee as trustee of the Trust effective as of the date hereof, to have all the rights, powers and
duties set forth herein. The Owner Trustee hereby accepts such appointment. 
 SECTION 2.5. Initial Capital Contribution of Trust
Estate 
 The Owner Trustee has acknowledged receipt in trust from the Depositor of the sum of $1.00 which contribution shall constitute
the initial Owner Trust Estate. The Depositor acknowledges that such contribution has been transferred to, and is being held by, Citibank, N.A., as agent for the Trust in an account established by Citibank, N.A., on behalf of the Trust, which
contribution shall constitute the initial Owner Trust Estate. The Depositor shall pay organizational expenses of the Trust as they may arise. 

  
 5 

 SECTION 2.6. Declaration of Trust 

The Owner Trustee hereby declares that it will hold the Owner Trust Estate in trust upon and subject to the conditions set forth herein for
the use and benefit of the Holder, subject to the obligations of the Trust under the Basic Documents. It is the intention of the parties hereto that the Trust constitute a statutory trust under the Statutory Trust Statute and that this Agreement
constitute the governing instrument of such statutory trust. Effective as of the date hereof, the Owner Trustee shall have all rights, powers and duties set forth herein and to the extent not inconsistent herewith, in the Statutory Trust Statute
with respect to accomplishing the purposes of the Trust. The Owner Trustee has filed the Certificate of Trust with the Secretary of State and such filing is hereby ratified in all respects. 

The Holder shall not have any personal liability for any liability or obligation of the Trust. 

SECTION 2.7. Title to Trust Property. 

(a) Legal title to all the Owner Trust Estate shall be vested at all times in the Trust as a separate legal entity except where applicable law
in any jurisdiction requires title to any part of the Owner Trust Estate to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Owner Trustee, a co-trustee and/or a separate trustee, as the case may be. 

(b) The Holder shall not have legal title to any part of the Trust Property. The Holder shall be entitled to receive distributions with
respect to its undivided ownership interest therein only in accordance with Article VIII and Article XI. No transfer, by operation of law or otherwise, of any right, title or interest by the Certificateholder of its ownership interest in the Owner
Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Trust Property. 

SECTION 2.8. Situs of Trust 

The Trust will be located and administered in the State of Delaware. All bank accounts maintained by the Owner Trustee on behalf of the Trust
shall be located in the State of Delaware or the State of New York. Payments will be received by the Trust only in Delaware or New York and payments will be made by the Trust only from Delaware or New York. The Trust shall not have any employees in
any state other than Delaware; provided, however, that nothing herein shall restrict or prohibit the Owner Trustee, the Servicer or any agent of the Trust from having employees within or outside the State of Delaware. The only office
of the Trust will be at the Corporate Trust Office located in Delaware. 
 SECTION 2.9. Representations and Warranties of the
Depositor 
 The Depositor makes the following representations and warranties on which the Owner Trustee relies in accepting the Owner
Trust Estate in trust and issuing the Certificate. 

  
 6 

 (a) Organization and Good Standing. The Depositor is duly organized and validly existing as a
Nevada corporation with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted and is proposed to be conducted pursuant to this Agreement and the Basic
Documents. 
 (b) Due Qualification. The Depositor is duly qualified to do business as a foreign corporation, is in good standing, and has
obtained, or has filed all forms, in the appropriate form, that are required to obtain, all necessary licenses and approvals, in all jurisdictions in which the ownership or lease of its property, the conduct of its business and the performance of
its obligations under this Agreement and the Basic Documents requires such qualification. 
 (c) Power and Authority. The Depositor has the
corporate power and authority to execute and deliver this Agreement and to carry out its terms; the Depositor has full power and authority to sell and assign the property to be sold and assigned to and deposited with the Trust and the Depositor has
duly authorized such sale and assignment and deposit to the Trust by all necessary action; and the execution, delivery and performance of this Agreement has been duly authorized by the Depositor by all necessary action. 

(d) No Consent Required. No consent, license, approval or authorization or registration or declaration with, any Person or with any
governmental authority, bureau or agency is required in connection with the execution, delivery or performance of this Agreement and the Basic Documents, except for such as have been applied for, obtained, effected or made. 

(e) No Violation. The consummation of the transactions contemplated by this Agreement and the fulfillment of the terms hereof do 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) a default under the certificate of incorporation or by-laws of the Depositor, or any material indenture, agreement or other
instrument to which the Depositor is a party or by which it is bound; nor result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement or other instrument (other than pursuant to
the Basic Documents); nor violate any law or, to the best of the Depositor’s knowledge, any order, rule or regulation applicable to the Depositor of any court or of any federal or state regulatory body, administrative agency or other
governmental instrumentality having jurisdiction over the Depositor or its properties. 
 (f) No Proceedings. There are no proceedings or
investigations pending or, to its knowledge threatened against it before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over it or its properties (A) asserting the
invalidity of this Agreement or any of the Basic Documents, (B) seeking to prevent the issuance of the Certificate or the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the Basic Documents,
(C) seeking any determination or ruling that might materially and adversely affect its performance of its obligations under, or the validity or enforceability of, this Agreement or any of the Basic Documents, or (D) seeking to adversely
affect the federal income tax or other federal, state or local tax attributes of the Certificate. 

  
 7 

 SECTION 2.10. Covenants of the Certificateholder 

The Certificateholder agrees: 

(a) to be bound by the terms and conditions of the Certificate of which the Holder is the beneficial owner and of this Agreement, including
any supplements or amendments hereto and to perform the obligations of a Holder as set forth therein or herein, in all respects as if it were a signatory hereto. This undertaking is made for the benefit of the Trust and the Owner Trustee; and 

(b) except as expressly provided in Sections 4.5 and 10.12, not to, for any reason, take any Bankruptcy Action. 

SECTION 2.11. Federal Income Tax Treatment of the Trust. 

(a) For so long as the Trust has a single owner for federal income tax purposes, it will, pursuant to Treasury Regulations promulgated under
section 7701 of the Code, be disregarded as an entity distinct from the Certificateholder for all federal income tax purposes. Accordingly, for federal income tax purposes, the Certificateholder will be treated as (i) owning all assets owned by
the Trust and (ii) having incurred all liabilities incurred by the Trust, and all transactions between the Trust and the Certificateholder will be disregarded. 

(b) Neither the Owner Trustee nor the Certificateholder will, under any circumstances, and at any time, make an election on IRS Form 8832 or
otherwise, to classify the Trust as an association taxable as a corporation for federal, state or any other applicable tax purpose. 
 (c)
In the event that the Trust has two or more equity owners for federal income tax purposes, the Trust will be treated as a partnership. At any such time that the Trust has two or more equity owners, this Agreement will be amended, in accordance with
Section 10.1 herein, and appropriate provisions will be added so as to provide for treatment of the Trust as a partnership. 
 (d) In
the event that the Trust is classified as a partnership for federal income tax purposes as of January 1, 2018, or if later, the date that the BBA Partnership Audit Rules are first applicable to the Trust, (i) the Depositor (or if the
Depositor is no longer a Certificateholder, the Majority Certificateholder) is hereby designated as the partnership representative under Section 6223(a) of the Code to the extent allowed under the law and (ii) the Depositor (or if the
Depositor is no longer a Certificateholder, the Majority Certificateholder) will or will cause the Trust, to the extent eligible, to make the election under Section 6221(b) of the Code with respect to determinations of adjustments at the
partnership level and take any other action (such as disclosures and notifications) necessary or appropriate to effectuate such election. If the election described in the preceding sentence is not available, to the extent applicable, the Depositor
(or if the Depositor is no longer a Certificateholder, the Majority Certificateholder) will or will cause the Trust to make the election under Section 6226(a) of the Code with respect to the alternative to payment of imputed underpayment by a
partnership and take any other action such as filings, disclosures and notifications necessary or appropriate to effectuate such election. The Depositor (or if the Depositor is no longer a Certificateholder, the Majority Certificateholder) is
authorized, 

  
 8 

 
in its sole discretion, to make any available election with respect to the BBA Partnership Audit Rules and take any action it deems necessary or appropriate to comply with the requirements of the
Code and to conduct the Trust’s affairs with respect to the BBA Partnership Audit Rules. 
 Article III. 

Certificate and Transfer of Interest 

SECTION 3.1. Initial Ownership 

Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Certificate to
the initial Certificateholder, the Depositor shall be the sole beneficiary of the Trust. 
 SECTION 3.2. The Certificate 

The Certificate shall be executed on behalf of the Trust by manual or facsimile signature of an authorized officer of the Owner Trustee. A
Certificate bearing the manual or facsimile signatures of individuals who were, at the time when such signatures shall have been affixed, authorized to sign on behalf of the Trust, shall be validly issued and entitled to the benefit of this
Agreement, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the authentication and delivery of such Certificate or did not hold such offices at the date of authentication and delivery of such
Certificate. A transferee of a Certificate shall become a Certificateholder, and shall be entitled to the rights and subject to the obligations of a Certificateholder hereunder, upon due registration of such Certificate in such transferee’s
name pursuant to Section 3.4. 
 SECTION 3.3. Authentication of Certificate 

Concurrently with the sale of the Receivables to the Trust pursuant to the Sale and Servicing Agreement, the Owner Trustee shall cause the
Certificate to be executed on behalf of the Trust, authenticated and delivered to or upon the written order of the Depositor, signed by its chairman of the board, its president or any vice president, its treasurer or any assistant treasurer without
further corporate action by the Depositor, in authorized denominations. No Certificate shall entitle its holder to any benefit under this Agreement, or shall be valid for any purpose, unless there shall appear on such Certificate a certificate of
authentication substantially in the form set forth in Exhibit A, executed by the Owner Trustee or the Owner Trustee’s authentication agent, by manual signature; such authentication shall constitute conclusive evidence that such Certificate
shall have been duly authenticated and delivered hereunder. The Certificate shall be dated the date of its authentication. 
 SECTION 3.4.
Registration of Transfer and Exchange of Certificate 
 The Certificate Registrar shall keep or cause to be kept, at the office or
agency maintained pursuant to Section 3.7, a Certificate Register in which, subject to such reasonable regulations as it may prescribe, the Owner Trustee shall provide for the registration of the Certificate and of transfers and exchanges of
the Certificate as herein provided. Wilmington Trust Company shall be the initial Certificate Registrar. 

  
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 The Certificate Registrar shall provide the Trust Collateral Agent and the Trustee with the name
and address of the Certificateholder (if other than the Depositor) on the Closing Date. Upon any transfers of the Certificate, the Certificate Registrar shall notify the Trust Collateral Agent and the Trustee of the name and address of the
transferee in writing, by facsimile, on the day of such transfer. The Trust Collateral Agent and the Trustee shall be entitled to fully rely on the most recently provided Certificateholder information with no liability therefor. 

Upon surrender for registration of transfer of the Certificate at the office or agency maintained pursuant to Section 3.7, the Owner
Trustee shall execute, authenticate and deliver (or shall cause its authenticating agent to authenticate and deliver), in the name of the designated transferee, a new Certificate dated the date of authentication by the Owner Trustee or any
authenticating agent. 
 A Certificate presented or surrendered for registration of transfer or exchange shall be accompanied by a written
instrument of transfer in form satisfactory to the Owner Trustee and the Certificate Registrar duly executed by the Certificateholder or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor
institution” meeting the requirements of the Certificate Registrar, which requirements include membership or participation in the Securities Transfer Agent’s Medallion Program (“STAMP”) or such other “signature guarantee
program” as may be determined by the Certificate Registrar in addition to, or in substitution for, STAMP, all in accordance with the Exchange Act. Each Certificate surrendered for registration of transfer or exchange shall be canceled and
subsequently disposed of by the Owner Trustee in accordance with its customary practice. 
 No service charge shall be made for any
registration of transfer or exchange of the Certificate, but the Owner Trustee or the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer or
exchange of the Certificate. 
 Notwithstanding the foregoing, no sale or transfer of a Certificate shall be permitted (including, without
limitation, by pledge or hypothecation), and no such sale or transfer shall be registered by the Certificate Registrar to be effective hereunder, if the sale or transfer thereof increases the number of Certificateholders to more than ninety-nine
(99). For purposes of determining the total number of Certificateholders, a beneficial owner of an interest in a partnership, grantor trust, S corporation or other flow-through entity that owns, directly or through other flow-through entities, a
Certificate is treated as a holder of a Certificate if (i) substantially all of the value of the beneficial owner’s interest (directly or indirectly) in the flow-through entity is attributed to the flow-through entity’s interest in
the Certificate and (ii) a principal purpose of the use of the flow-through entity to hold the Certificate is to satisfy the 99 holder limitation set out above. 

SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 

If (a) any mutilated Certificate shall be surrendered to the Certificate Registrar, or if the Certificate Registrar shall receive
evidence to its satisfaction of the destruction, loss or theft of any Certificate and (b) there shall be delivered to the Certificate Registrar and the Owner Trustee, such security or indemnity as may be required by them to save each of them
harmless, 

  
 10 

 
then in the absence of notice that such Certificate shall have been acquired by a bona fide purchaser, the Owner Trustee on behalf of the Trust shall execute and the Owner Trustee, or Wilmington
Trust Company, as the Owner Trustee’s authenticating agent, shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate of like tenor and denomination. In connection
with the issuance of any new Certificate under this Section, the Owner Trustee or the Certificate Registrar may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. Any
duplicate Certificate issued pursuant to this Section shall constitute conclusive evidence of an ownership interest in the Trust, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. 

SECTION 3.6. Persons Deemed Certificateholders 

Every Person by virtue of becoming a Certificateholder in accordance with this Agreement shall be deemed to be bound by the terms of this
Agreement. Prior to due presentation of the Certificate for registration of transfer, the Owner Trustee and the Certificate Registrar and any agent of the Owner Trustee and the Certificate Registrar, may treat the person in whose name any
Certificate shall be registered in the Certificate Register as the owner of such Certificate for the purpose of receiving distributions pursuant to the Sale and Servicing Agreement and for all other purposes whatsoever, and none of the Owner Trustee
or the Certificate Registrar nor any agent of the Owner Trustee or the Certificate Registrar shall be bound by any notice to the contrary. 

SECTION 3.7. Maintenance of Office or Agency 

The Owner Trustee shall maintain an office or offices or agency or agencies where the Certificate may be surrendered for registration of
transfer or exchange and where notices and demands to or upon the Owner Trustee in respect of the Certificate and the Basic Documents may be served. The Owner Trustee initially designates the Corporate Trust Office for such purposes. The Owner
Trustee shall give prompt written notice to the Depositor and the Certificateholder of any change in the location of the Certificate Register or any such office or agency. 

SECTION 3.8. Disposition in Whole But Not in Part 

The Certificate may be transferred in whole but not in part. Any attempted transfer of the Certificate that would divide the ownership of the
Owner Trust Estate shall be void. The Owner Trustee shall cause any Certificate issued to contain a legend stating “THIS CERTIFICATE IS NOT TRANSFERABLE, EXCEPT UNDER THE LIMITED CONDITIONS SPECIFIED IN THE TRUST AGREEMENT.” 

SECTION 3.9. ERISA Restrictions 

The Certificate may not be acquired by or for the account of (i) an “employee benefit plan” (as defined in Section 3(3) of
the Employee Retirement Income Security Act of 1974, as amended (“ERISA”)) that is subject to the fiduciary responsibility provisions of Title I of ERISA, (ii) a “plan” (within the meaning of Section 4975(e)(1)
of the Code) that is subject to Section 4975 of the Code, (iii) any entity whose underlying assets include assets of an employee 

  
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benefit plan or a plan described in (i) or (ii) above by reason of such employee benefit plan’s or plan’s investment in the entity (collectively, a “Benefit Plan
Investor”), or (iv) an employee benefit plan, a plan or other similar arrangement that is not a Benefit Plan Investor but is subject to federal, state, local, non-U.S. or other laws or regulations that are substantially similar to
Section 406 of ERISA or Section 4975 of the Code (each of (i) – (iv), a “Benefit Plan Entity”). By accepting and holding its beneficial ownership interest in its Certificate, the Holder thereof shall be deemed to
have represented and warranted that it is not a Benefit Plan Entity. 
 SECTION 3.10. Appointment of Certificate Paying Agent 

The Certificate Paying Agent shall make distributions to the Certificateholder from the Certificate Distribution Account pursuant to Article
VIII and Article XI hereof and shall report the amounts of such distributions to the Owner Trustee. Any Certificate Paying Agent shall have the revocable power to withdraw funds from the Certificate Distribution Account for the purpose of making the
distributions referred to above. The Owner Trustee shall revoke such power and remove the Certificate Paying Agent if the Owner Trustee or the Depositor by written direction to the Owner Trustee determines, each in its sole discretion that the
Certificate Paying Agent shall have failed to perform its obligations under this Agreement in any material respect. The Certificate Paying Agent initially shall be Wilmington Trust Company, and any co-paying agent chosen by Wilmington Trust Company
and the Depositor. Wilmington Trust Company shall be permitted to resign as Certificate Paying Agent upon 30 days’ written notice to the Owner Trustee and the Depositor. In the event that Wilmington Trust Company shall no longer be the
Certificate Paying Agent, the Depositor, with the consent of the Owner Trustee, shall appoint a successor to act as Certificate Paying Agent (which shall be a bank or trust company). The Owner Trustee shall cause such successor Certificate Paying
Agent or any additional Certificate Paying Agent appointed hereunder to execute and deliver to the Owner Trustee an instrument in which such successor Certificate Paying Agent or additional Certificate Paying Agent shall agree with the Owner Trustee
that, as Certificate Paying Agent, such successor Certificate Paying Agent or additional Certificate Paying Agent will hold all sums, if any, held by it for payment to the Certificateholder in trust for the benefit of the Certificateholder entitled
thereto until such sums shall be paid to the Certificateholder. The Certificate Paying Agent shall return all unclaimed funds to the Owner Trustee and upon removal of a Certificate Paying Agent such Certificate Paying Agent shall also return all
funds in its possession to the Owner Trustee. The provisions of Articles VI and VII shall apply to the Owner Trustee also in its role as Certificate Paying Agent, for so long as the Owner Trustee shall act as Certificate Paying Agent and, to the
extent applicable, to any other paying agent appointed hereunder. Any reference in this Agreement to the Certificate Paying Agent shall include any co-paying agent unless the context requires otherwise. 

Article IV. 
 Voting
Rights and Other Actions 
 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 

With respect to the following matters, the Owner Trustee shall not take action unless at least 30 days before the taking of such action, the
Owner Trustee shall have notified the Certificateholder in writing of the proposed action and the Certificateholder shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that the Certificateholder has
withheld consent or provided alternative direction: 
 (a) the election by the Trust to file an amendment to the Certificate of Trust
(unless such amendment is required to be filed under the Statutory Trust Statute or unless such amendment would not materially and adversely affect the interests of the Holder); 

  
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 (b) the amendment of the Indenture by a supplemental indenture in circumstances where the consent
of any Noteholder is required; 
 (c) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any
Noteholder is not required and such amendment materially adversely affects the interest of the Certificateholder; or 
 (d) except pursuant
to Section 12.1(b) of the Sale and Servicing Agreement, the amendment, change or modification of the Sale and Servicing Agreement, except to cure any ambiguity or defect or to amend or supplement any provision in a manner that would not
materially adversely affect the interests of the Certificateholder. 
 The Owner Trustee shall notify the Certificateholder in writing of
any appointment of a successor Note Registrar or Trust Collateral Agent within five Business Days after receipt of notice thereof. 

SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 

The Owner Trustee shall not have the power, except upon the direction of the Certificateholder in accordance with the Basic Documents, to
(a) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 9.2 thereof or (b) except as expressly provided in the Basic Documents, sell the Receivables after the termination of the Indenture. The Owner Trustee
shall take the actions referred to in the preceding sentence only upon written instructions signed by the Certificateholder and the furnishing of indemnification satisfactory to the Owner Trustee by the Certificateholder. 

SECTION 4.3. Restrictions on Certificateholder’s Power. 

(a) The Certificateholder shall not direct the Owner Trustee to take or refrain from taking any action if such action or inaction would be
contrary to any obligation of the Trust or the Owner Trustee under this Agreement or any of the Basic Documents or would be contrary to Section 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given. 

(b) The Certificateholder shall not have any right by virtue or by availing itself of any provisions of this Agreement to institute any suit,
action, or proceeding in equity or at law upon or under or with respect to this Agreement or any Basic Document, unless the Certificateholder previously shall have given to the Owner Trustee a written notice of default and of the continuance
thereof, as provided in this Agreement, and also unless the Certificateholder shall have made written request upon the Owner Trustee to institute such action, suit or proceeding in its own name as Owner Trustee under this Agreement and shall have
offered to the Owner Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to 

  
 13 

 
be incurred therein or thereby, and the Owner Trustee, for 30 days after its receipt of such notice, request, and offer of indemnity, shall have neglected or refused to institute any such action,
suit, or proceeding, and during such 30-day period no request or waiver inconsistent with such written request has been given to the Owner Trustee pursuant to and in compliance with this Section or Section 5.3. For the protection and
enforcement of the provisions of this Section, the Certificateholder and the Owner Trustee shall be entitled to such relief as can be given either at law or in equity. 

SECTION 4.4. [Reserved] 

SECTION 4.5. Action with Respect to Bankruptcy Action 

(a) The Trust shall not, without the prior written consent of the Owner Trustee, (a) institute any proceedings to adjudicate the Trust
bankrupt or insolvent, (b) consent to the institution of bankruptcy or insolvency proceedings against the Trust, (c) file a petition seeking or consenting to reorganization or relief under any applicable federal or state law relating to
bankruptcy with respect to the Trust, (d) consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Trust or a substantial part of its property, (e) make any assignment for the
benefit of the Trust’s creditors; (f) admit in writing its inability to pay its debts generally as they become due; (g) declare or effect a moratorium on its debt; or (h) take any action in furtherance of any of the foregoing
(any of the above foregoing actions, a “Bankruptcy Action”). In considering whether to give or withhold written consent to a Bankruptcy Action by the Trust, the Owner Trustee, with the consent of the Certificateholder (hereby given, which
consent the Certificateholder believes to be in the best interests of the Certificateholder and the Trust), shall consider the interest of the Noteholders in addition to the interests of the Trust and whether the Trust is insolvent; provided,
however, that the Owner Trustee shall not be deemed to owe any fiduciary duty to the Noteholders. The Owner Trustee shall have no duty to give such written consent to a Bankruptcy Action by the Trust if the Owner Trustee shall not have been
furnished (at the expense of the Trust or the Person that requested that such letter be furnished to the Owner Trustee) with a letter from an independent accounting firm of national reputation stating that in the opinion of such firm the Trust is
then insolvent. The Owner Trustee (as such and in its individual capacity) shall not be personally liable to any Person on account of the Owner Trustee’s good faith reliance on the provisions of this Section or in connection with the Owner
Trustee’s giving prior written consent to a Bankruptcy Action by the Trust in accordance herewith, or withholding such consent, in good faith, and neither the Trust nor the Certificateholder shall have any claim for breach of fiduciary duty or
otherwise against the Owner Trustee (as such and in its individual capacity) for giving or withholding its consent to any such Bankruptcy Action. 

(b) The parties hereto stipulate and agree that the Certificateholder has no power to commence any Bankruptcy Action on the part of the Trust
or to direct the Owner Trustee to take any Bankruptcy Action on the part of the Trust except as provided in Sections 4.5(a) and 10.12. To the extent permitted by applicable law, the consent of the Trust Collateral Agent shall be obtained prior
to taking any Bankruptcy Action by the Trust. 
 (c) The provisions of this Section do not constitute an acknowledgement or admission by the
Trust, the Owner Trustee, the Certificateholder or any creditor of the Trust that the Trust is eligible to be a debtor, under the United States Bankruptcy Code, 11 U.S.C. §§ 101 et seq., as amended. 

  
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 SECTION 4.6. Covenants and Restrictions on Conduct of Business. 

(a) The Trust agrees to abide by the following restrictions: 

(i) other than as contemplated by the Basic Documents and related documentation, the Trust shall not incur any indebtedness;

 (ii) other than as contemplated by the Basic Documents and related documentation, the Trust shall not engage in any
dissolution, liquidation, consolidation, merger or sale of assets; 
 (iii) other than as contemplated by the Basic Documents
and related documentation, the Trust shall not engage in any business activity in which it is not currently engaged; and 

(iv) other than as contemplated by the Basic Documents and related documentation, the Trust shall not form, or cause to be
formed, any subsidiaries and shall not own or acquire any asset. 
 (b) The Trust shall: 

(i) maintain books and records separate from any other person or entity; 

(ii) maintain its office and bank accounts separate from any other person or entity; 

(iii) not commingle its assets with those of any other person or entity; 

(iv) conduct its own business in its own name and use stationery or other business forms under its own name and not that of the
Certificateholder or any Affiliate; 
 (v) other than as contemplated by the Basic Documents and related documentation, pay
its own liabilities and expenses only out of its own funds; 
 (vi) observe all formalities required under the Statutory
Trust Statute; 
 (vii) not guarantee or become obligated for the debts of any other person or entity; 

(viii) not hold out its credit as being available to satisfy the obligation of any other person or entity; 

(ix) not acquire the obligations or securities of the Certificateholder or its Affiliates; 

  
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 (x) other than as contemplated by the Basic Documents and related documentation,
not make loans to any other person or entity or buy or hold evidence of indebtedness issued by any other person or entity; 

(xi) other than as contemplated by the Basic Documents and related documentation, not pledge its assets for the benefit of any
other person or entity; 
 (xii) hold itself out as a separate entity from the Certificateholder and not conduct any business
in the name of the Certificateholder; 
 (xiii) correct any known misunderstanding regarding its separate identity; 

(xiv) not identify itself as a division (other than for tax reporting purposes) of any other person or entity; and 

(xv) except as required or specifically provided in the Trust Agreement, the Trust will conduct business with the
Certificateholder or any Affiliate thereof on an arm’s length basis. 
 (c) So long as the Notes or any other amounts owed under the
Indenture remain outstanding, the Trust shall not amend this Section 4.6 unless the Rating Agency Condition has been satisfied. 

Article V.  
 Authority
and Duties of Owner Trustee 
 SECTION 5.1. General Authority. 

(a) The Owner Trustee is authorized and directed to execute and deliver the Basic Documents to which the Trust is named as a party, each
certificate or other document attached as an exhibit to or contemplated by the Basic Documents to which the Trust is named as a party and any amendment thereto and on behalf of the Trust, each state business license (and any renewal thereof)
prepared by the Certificateholder or Servicer, including a Sales Finance Company Application (and any renewal thereof) with the Pennsylvania Department of Banking, Licensing Division, and a Financial Regulation Application (and any renewal thereof)
with the Maryland Department of Labor, Licensing and Regulation, in each case, in such form as the Depositor shall approve as evidenced conclusively by the Owner Trustee’s execution thereof, and on behalf of the Trust, to direct the Trustee to
authenticate and deliver the Class A-1 Notes in the aggregate principal amount of $214,000,000, the Class A-2-A Notes in the aggregate principal amount of $305,130,000, the Class A-2-B Notes in the aggregate principal amount of
$150,000,000, the Class A-3 Notes in the aggregate principal amount of $203,140,000, the Class B Notes in the aggregate principal amount of $94,670,000, the Class C Notes in the aggregate principal amount of $117,500,000, the Class D Notes in
the aggregate principal amount of $115,560,000 and the Class E Notes in the aggregate principal amount of $30,680,000. In addition to the foregoing, the Owner Trustee is authorized, but shall not be obligated, to take all actions required of the
Trust pursuant to the Basic Documents. The Owner Trustee is further authorized from time to time to take such action as the Certificateholder recommends with respect to the Basic Documents so long as such activities are consistent with the terms of
the Basic Documents. 
 (b) The Owner Trustee shall sign on behalf of the Trust any applicable tax returns of the Trust, unless applicable
law requires the Certificateholder to sign such documents. 

  
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 SECTION 5.2. General Duties 

It shall be the duty of the Owner Trustee to discharge (or cause to be discharged) all of its responsibilities pursuant to the terms of this
Agreement and the Sale and Servicing Agreement and to administer the Trust in the interest of the Holder, subject to the Basic Documents and in accordance with the provisions of this Agreement. Notwithstanding the foregoing, the Owner Trustee shall
be deemed to have discharged its duties and responsibilities hereunder and under the Basic Documents to the extent the Servicer has agreed in the Sale and Servicing Agreement to perform any act or to discharge any duty of the Trust or the Owner
Trustee hereunder or under any Basic Document, and the Owner Trustee shall not be liable for the default or failure of the Servicer to carry out its obligations under the Sale and Servicing Agreement. 

SECTION 5.3. Action upon Instruction. 

(a) Subject to Article IV, the Certificateholder shall have the exclusive right to direct the actions of the Owner Trustee in the management
of the Trust, so long as such instructions are not inconsistent with the express terms set forth herein or in any Basic Document. The Certificateholder shall not instruct the Owner Trustee in a manner inconsistent with this Agreement or the Basic
Documents. 
 (b) The Owner Trustee shall not be required to take any action hereunder or under any Basic Document if the Owner Trustee
shall have reasonably determined, or shall have been advised by counsel, that such action is likely to result in liability on the part of the Owner Trustee or is contrary to the terms hereof or of any Basic Document or is otherwise contrary to law.

 (c) Whenever the Owner Trustee is unable to decide between alternative courses of action permitted or required by the terms of this
Agreement or any Basic Document, the Owner Trustee shall promptly give notice (in such form as shall be appropriate under the circumstances) to the Certificateholder requesting instruction as to the course of action to be adopted, and to the extent
the Owner Trustee acts in good faith in accordance with any written instruction of the Certificateholder received, the Owner Trustee shall not be liable on account of such action to any Person. If the Owner Trustee shall not have received
appropriate instruction within ten (10) days of such notice (or within such shorter period of time as reasonably may be specified in such notice or may be necessary under the circumstances) it may, but shall be under no duty to, take or refrain
from taking such action, not inconsistent with this Agreement or the Basic Documents, as it shall deem to be in the best interests of the Certificateholder, and shall have no liability to any Person for such action or inaction. 

(d) In the event that the Owner Trustee is unsure as to the application of any provision of this Agreement or any Basic Document or any such
provision is ambiguous as to its application, or is, or appears to be, in conflict with any other applicable provision, or in the event 

  
 17 

 
that this Agreement permits any determination by the Owner Trustee or is silent or is incomplete as to the course of action that the Owner Trustee is required to take with respect to a particular
set of facts, the Owner Trustee may give notice (in such form as shall be appropriate under the circumstances) to the Certificateholder requesting instruction and, to the extent that the Owner Trustee acts or refrains from acting in good faith in
accordance with any such instruction received, the Owner Trustee shall not be liable, on account of such action or inaction, to any Person. If the Owner Trustee shall not have received appropriate instruction within 10 days of such notice (or within
such shorter period of time as reasonably may be specified in such notice or may be necessary under the circumstances) it may, but shall be under no duty to, take or refrain from taking such action, not inconsistent with this Agreement or the Basic
Documents, as it shall deem to be in the best interests of the Certificateholder, and shall have no liability to any Person for such action or inaction. 

SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 

The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or
otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee is a party, except as expressly provided by the terms of
this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 5.3; and no implied duties or obligations shall be read into this Agreement or any Basic Document against the Owner Trustee. The Owner
Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare or
file any Commission filing (including any filings required pursuant to the Sarbanes-Oxley Act of 2002 or any rule or regulation promulgated thereunder) for the Trust or to record this Agreement or any Basic Document. The Owner Trustee nevertheless
agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee (solely in its individual
capacity) and that are not related to the ownership or the administration of the Owner Trust Estate. 
 SECTION 5.5. No Action Except
under Specified Documents or Instructions 
 The Owner Trustee shall not manage, control, use, sell, dispose of or otherwise deal with
any part of the Owner Trust Estate except (a) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement, (b) in accordance with the Basic Documents and (c) in accordance
with any document or instruction delivered to the Owner Trustee pursuant to Section 5.3. 
 SECTION 5.6. Restrictions 

The Owner Trustee shall not take any action (a) that is inconsistent with the purposes of the Trust set forth in Section 2.3 or
(b) that, to the actual knowledge of the Owner Trustee, would result in the Trust’s becoming taxable as a corporation for federal income tax purposes. The Certificateholder shall not direct the Owner Trustee to take action that would
violate the provisions of this Section. 

  
 18 

 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations
and Warranties 
 (a) The Owner Trustee will (i) in accordance with its obligations pursuant to Section 3.2 of the Sale and
Servicing Agreement, provide prompt written notice upon the discovery of any breach of the Seller’s representations and warranties, (ii) no later than five (5) Business Days after the end of each calendar quarter, provide to the
Servicer, AmeriCredit and the Seller, a notice in substantially the form of Exhibit C, or any other form agreed upon between the Owner Trustee and the Seller, which shall be deemed acceptable to the Seller unless the Seller notifies the Owner
Trustee within five (5) Business Days of its receipt thereof, with respect to any requests (in writing or orally) for the repurchase of any Receivable pursuant to Section 5.1 of the Purchase Agreement or Section 3.2 of the Sale and
Servicing Agreement received by a Responsible Officer of the Owner Trustee during the immediately preceding calendar quarter (or, in the case of the initial notice, since the Closing Date) and (iii) promptly upon reasonable written request by
the Servicer, AmeriCredit or the Seller, provide to them any other information reasonably requested in good faith that is in actual possession of the Owner Trustee and necessary to facilitate compliance by them with Rule 15Ga-1 under the Exchange
Act, and Items 1104(e) and 1121(c) of Regulation AB. 
 (b) In no event will the Owner Trustee or the Issuer have any responsibility or
liability in connection with (i) the compliance by the Servicer, AmeriCredit, the Seller or any other Person with the Exchange Act or Regulation AB or (ii) any filing required to be made by a securitizer under the Exchange Act or
Regulation AB. The Owner Trustee will not have a duty to conduct any affirmative investigation as to the occurrence of any conditions requiring the repurchase of any Receivable pursuant to Section 5.1 of the Purchase Agreement or
Section 3.2 of the Sale and Servicing Agreement. 
 Article VI.  

Concerning the Owner Trustee 

SECTION 6.1. Acceptance of Trusts and Duties 

The Owner Trustee accepts the trusts hereby created and agrees to perform its duties hereunder with respect to such trusts but only upon the
terms of this Agreement. The Owner Trustee also agrees to disburse all moneys actually received by it constituting part of the Owner Trust Estate upon the terms of the Basic Documents and this Agreement. The Owner Trustee shall not be answerable or
accountable hereunder or under any Basic Document under any circumstances, except (i) for its own willful misconduct, bad faith or negligence, (ii) in the case of the inaccuracy of any representation or warranty contained in
Section 6.3 expressly made by the Owner Trustee, (iii) for liabilities arising from the failure of the Owner Trustee to perform obligations expressly undertaken by it in the last sentence of Section 5.4, (iv) for any investments
issued by the Owner Trustee or any branch or affiliate thereof in its commercial capacity or (v) for taxes, fees or other charges on, based on or measured by, any fees, commissions or compensation received by the Owner Trustee. In particular,
but not by way of limitation (and subject to the exceptions set forth in the preceding sentence): 
 (a) the Owner Trustee shall not be
liable for any error of judgment made by a Responsible Officer of the Owner Trustee (except in the case of willful misconduct, bad faith or negligence); 

  
 19 

 (b) the Owner Trustee shall not be liable with respect to any action taken or omitted to be taken
by it in accordance with the instructions of the Servicer or the Certificateholder; 
 (c) no provision of this Agreement or any Basic
Document shall require the Owner Trustee to expend or risk funds or otherwise incur any financial liability in the performance of any of its rights or powers hereunder or under any Basic Document if the Owner Trustee shall have reasonable grounds
for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured or provided to it; 

(d) under no circumstances shall the Owner Trustee be liable for indebtedness evidenced by or arising under any of the Basic Documents,
including the principal of and interest on the Notes; 
 (e) the Owner Trustee shall not be responsible for or in respect of the validity or
sufficiency of this Agreement or for the due execution hereof by the Depositor or for the form, character, genuineness, sufficiency, value or validity of any of the Owner Trust Estate or for or in respect of the validity or sufficiency of the Basic
Documents, other than the certificate of authentication on the Certificate, and the Owner Trustee shall in no event assume or incur any liability, duty or obligation to the Trustee, the Trust Collateral Agent, any Noteholder or the
Certificateholder, other than as expressly provided for herein and in the Basic Documents; 
 (f) the Owner Trustee shall not be liable for
the default or misconduct of the Trustee, the Trust Collateral Agent or the Servicer under any of the Basic Documents or otherwise and the Owner Trustee shall have no obligation or liability to perform the obligations under this Agreement or the
Basic Documents that are required to be performed by the Trustee under the Indenture or the Trust Collateral Agent or the Servicer under the Sale and Servicing Agreement; and 

(g) the Owner Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Agreement, or to institute,
conduct or defend any litigation under this Agreement or otherwise or in relation to this Agreement or any Basic Document, at the request, order or direction of the Certificateholder, unless the Certificateholder has offered to the Owner Trustee
security or indemnity satisfactory to it against the costs, expenses and liabilities that may be incurred by the Owner Trustee therein or thereby. The right of the Owner Trustee to perform any discretionary act enumerated in this Agreement or in any
Basic Document shall not be construed as a duty, and the Owner Trustee shall not be answerable for other than its negligence, bad faith or willful misconduct in the performance of any such act. 

SECTION 6.2. Furnishing of Documents 

The Owner Trustee shall furnish to the Certificateholder promptly upon receipt of a written request therefor, duplicates or copies of all
reports, notices, requests, demands, certificates, financial statements and any other instruments furnished to the Owner Trustee under the Basic Documents. 

  
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 SECTION 6.3. Representations and Warranties 

Wilmington Trust Company hereby represents and warrants to the Depositor and the Holder, that: 

(a) It is a Delaware corporation with trust powers, duly organized and validly existing in good standing under the laws of the State of
Delaware. It has all requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement. 
 (b) It
has taken all corporate action necessary to authorize the execution and delivery by it of this Agreement, and this Agreement will be executed and delivered by one of its officers who is duly authorized to execute and deliver this Agreement on its
behalf. 
 (c) Neither the execution nor the delivery by it of this Agreement, nor the consummation by it of the transactions contemplated
hereby nor compliance by it with any of the terms or provisions hereof will contravene any federal or Delaware state law, governmental rule or regulation governing the banking or trust powers of Wilmington Trust Company or any judgment or order
binding on it, or constitute any default under its charter documents or by-laws or any indenture, mortgage, contract, agreement or instrument to which it is a party or by which any of its properties may be bound. 

(d) The Agreement has been, or, when executed and delivered will have been, duly authorized, validly executed and delivered by Wilmington
Trust Company and constitutes, a valid and binding agreement of Wilmington Trust Company, enforceable against Wilmington Trust Company in accordance with its terms, except to the extent that enforceability may (A) be subject to insolvency,
reorganization, moratorium, or other similar laws, regulations or procedures of general applicability now or hereinafter in effect relating to or affecting creditor’s rights generally and (B) be limited by general principles of equity
(whether considered in a proceeding at law or in equity). 
 (e) There are no proceedings or investigations pending or, to the actual
knowledge of a Responsible Officer of Wilmington Trust Company, threatened, before any court, regulatory body, administrative agency or other governmental instrumentality having jurisdiction over Wilmington Trust Company or its properties
(a) asserting the invalidity of this Agreement or (b) seeking any determination or ruling that might materially and adversely affect the performance by Wilmington Trust Company of its obligations under, or the validity or enforceability
of, this Agreement or any other Basic Document. 
 SECTION 6.4. Reliance; Advice of Counsel. 

(a) The Owner Trustee shall incur no liability to anyone in acting upon any signature, instrument, notice, resolution, request, consent,
order, certificate, report, opinion, bond or other document or paper believed by it to be genuine and believed by it to be signed by the proper party or parties. The Owner Trustee may accept a certified copy of a resolution of the board of directors
or other governing body of any corporate party as conclusive evidence that such resolution has been duly adopted by such body and that the same is in full force and effect. As to any fact or matter, the method of the determination of which is not
specifically prescribed herein, the Owner Trustee may for all purposes hereof rely on a certificate, signed by the president or 

  
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any vice president or by the treasurer, secretary or other authorized officers of the relevant party, as to such fact or matter, and such certificate shall constitute full protection to the Owner
Trustee for any action taken or omitted to be taken by it in good faith in reliance thereon. 
 (b) In the exercise or administration of the
trusts hereunder and in the performance of its duties and obligations under this Agreement or the Basic Documents, the Owner Trustee (i) may act directly or through its agents or attorneys pursuant to agreements entered into with any of them,
and the Owner Trustee shall not be liable for the conduct or misconduct of such agents or attorneys if such agents or attorneys shall have been selected by the Owner Trustee with reasonable care, and (ii) may consult with counsel, accountants
and other skilled persons to be selected with reasonable care and employed by it. The Owner Trustee shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the written opinion or advice of any such counsel,
accountants or other such persons and according to such opinion not contrary to this Agreement or any Basic Document. 
 SECTION 6.5. Not
Acting in Individual Capacity 
 Except as provided in this Article VI, in accepting the trust hereby created Wilmington Trust Company
acts solely as Owner Trustee hereunder and not in its individual capacity and all Persons having any claim against the Owner Trustee by reason of the transactions contemplated by this Agreement or any Basic Document shall look only to the Owner
Trust Estate for payment or satisfaction thereof. 
 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 

The recitals contained herein and in the Certificate (other than the signature and countersignature of the Owner Trustee on the Certificate)
shall be taken as the statements of the Depositor and the Owner Trustee assumes no responsibility for the correctness thereof. The Owner Trustee makes no representations as to the validity or sufficiency of this Agreement, of any Basic Document or
of the Certificate (other than the signature and countersignature of the Owner Trustee on the Certificate) or the Notes, or of any Receivable or related documents. The Owner Trustee shall at no time have any responsibility or liability for or with
respect to the legality, validity and enforceability of any Receivable, or the perfection and priority of any security interest created by any Receivable in any Financed Vehicle or the maintenance of any such perfection and priority, or for or with
respect to the sufficiency of the Owner Trust Estate or its ability to generate the payments to be distributed to the Certificateholder under this Agreement or the Noteholders under the Indenture, including, without limitation: the existence,
condition and ownership of any Financed Vehicle; the existence and enforceability of any insurance thereon; the existence and contents of any Receivable on any computer or other record thereof; the validity of the assignment of any Receivable to the
Trust or of any intervening assignment; the completeness of any Receivable; the performance or enforcement of any Receivable; the compliance by the Depositor, the Servicer or any other Person with any warranty or representation made under any Basic
Document or in any related document or the accuracy of any such warranty or representation or any action of the Trustee or the Servicer or any subservicer taken in the name of the Owner Trustee. 

  
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 SECTION 6.7. Owner Trustee May Own Notes 

The Owner Trustee in its individual or any other capacity may become the owner or pledgee of the Notes and may deal with the Depositor, the
Trustee and the Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee. 
 SECTION 6.8.
Payments from Owner Trust Estate 
 All payments to be made by the Owner Trustee under this Agreement or any of the Basic Documents
to which the Trust or the Owner Trustee is a party shall be made only from the income and proceeds of the Owner Trust Estate and only to the extent that the Owner Trustee shall have received income or proceeds from the Owner Trust Estate to make
such payments in accordance with the terms hereof. Wilmington Trust Company or any successor thereto, in its individual capacity, shall not be liable for any amounts payable under this Agreement or any of the Basic Documents to which the Trust or
the Owner Trustee is a party. 
 SECTION 6.9. Doing Business in Other Jurisdictions 

Notwithstanding anything contained herein to the contrary, neither Wilmington Trust Company or any successor thereto, nor the Owner Trustee
shall be required to take any action in any jurisdiction other than in the State of Delaware if the taking of such action will, even after the appointment of a co-trustee or separate trustee in accordance with Section 9.5 hereof,
(i) require the consent or approval or authorization or order of or the giving of notice to, or the registration with or the taking of any other action in respect of, any state or other governmental authority or agency of any jurisdiction other
than the State of Delaware; (ii) result in any fee, tax or other governmental charge under the laws of the State of Delaware becoming payable by Wilmington Trust Company (or any successor thereto); or (iii) subject Wilmington Trust Company
(or any successor thereto) to personal jurisdiction in any jurisdiction other than the State of Delaware for causes of action arising from acts unrelated to the consummation of the transactions by Wilmington Trust Company (or any successor thereto)
or the Owner Trustee, as the case may be, contemplated hereby. 
 SECTION 6.10. FATCA Information 

Each Certificateholder or Holder, by acceptance of such Certificate or such interest therein, agrees to provide to the Owner Trustee, upon its
reasonable request, the FATCA Information to the extent such Certificate Holder or Holder is legally entitled to do so. In addition, each Certificateholder or Holder, by acceptance of such Certificate or such interest therein, agrees that the Owner
Trustee has the right to withhold or deduct (and to promptly pay over, in full, to the relevant taxing authority) any amounts properly withheld or deducted under law (and without any corresponding gross-up) payable to a Certificateholder or Holder
that fails to comply with the requirements of the preceding sentence. 

  
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 Article VII. 

Compensation of Owner Trustee 

SECTION 7.1. Owner Trustee’s Fees and Expenses. The Owner Trustee shall receive as compensation for its services hereunder such
fees as have been separately agreed upon before the date hereof between AmeriCredit and the Owner Trustee, and the Owner Trustee shall be entitled to be reimbursed by the Depositor for its other reasonable expenses hereunder, including the
reasonable compensation, expenses and disbursements of such agents, representatives, experts and counsel as the Owner Trustee may employ in connection with the exercise and performance of its rights and its duties hereunder and under the Basic
Documents. General Motors Financial Company, Inc. shall be jointly and severally liable for the fees and expenses owing to the Owner Trustee under this Section 7.1. 

SECTION 7.2. Indemnification 

The Depositor shall be liable as primary obligor for, and shall indemnify the Owner Trustee and its officers, directors, successors, assigns,
agents and servants (collectively, the “Indemnified Parties”) from and against, any and all liabilities, obligations, losses, damages, taxes, claims, actions and suits, and any and all reasonable costs, expenses and disbursements
(including reasonable legal fees and expenses and including, without limitation, any legal fees, costs and expenses incurred in connection with any enforcement (including any action, claim or suit brought) by the Owner Trustee for any
indemnification or other obligation of the Depositor) of any kind and nature whatsoever (collectively, “Expenses”) which may at any time be imposed on, incurred by, or asserted against the Owner Trustee or any Indemnified Party in
any way relating to or arising out of this Agreement, the Basic Documents, the Owner Trust Estate, the administration of the Owner Trust Estate or the action or inaction of the Owner Trustee hereunder, except only that the Depositor shall not be
liable for or required to indemnify the Owner Trustee from and against Expenses arising or resulting from any of the matters described in the third sentence of Section 6.1. The indemnities contained in this Section and the rights under
Section 7.1 shall survive the resignation or termination of the Owner Trustee or the termination of this Agreement. In any event of any claim, action or proceeding for which indemnity will be sought pursuant to this Section, the Owner
Trustee’s choice of legal counsel shall be subject to the approval of the Depositor which approval shall not be unreasonably withheld. General Motors Financial Company, Inc. shall be jointly and severally liable for the indemnification duties
and obligations of the Depositor which are described in this Section 7.2. 
 SECTION 7.3. Payments to the Owner Trustee 

Any amounts paid to the Owner Trustee pursuant to this Article VII shall be deemed not to be a part of the Owner Trust Estate immediately
after such payment. 
 SECTION 7.4. Non-recourse Obligations 

Notwithstanding anything in this Agreement or any Basic Document, the Owner Trustee agrees in its individual capacity and in its capacity as
Owner Trustee for the Trust that all obligations of the Trust to the Owner Trustee individually or as Owner Trustee for the Trust shall be with recourse to the Owner Trust Estate only and specifically shall be without recourse to the assets of the
Holder. 

  
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 Article VIII. 

Termination of Trust Agreement 

SECTION 8.1. Termination of Trust Agreement. 

(a) The Trust shall dissolve in accordance with Section 3808 of the Statutory Trust Statute upon the maturity or other liquidation of the
last Receivable (including the purchase by the Servicer at its option or by the Seller at its option of the corpus of the Trust as described in Section 10.1 of the Sale and Servicing Agreement) and the subsequent distribution of amounts in
respect of such Receivables as provided in the Basic Documents; provided, however, that the rights to indemnification under Section 7.2 and the rights under Section 7.1 shall survive the dissolution of the Trust. The Seller or the Servicer
shall promptly notify the Owner Trustee of any prospective dissolution pursuant to this Section. The bankruptcy, liquidation, dissolution, death or incapacity of the Certificateholder, shall not (x) operate to terminate this Agreement or the
Trust, nor (y) entitle the Certificateholder’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of all or any part of the Trust or Owner Trust Estate nor
(z) otherwise affect the rights, obligations and liabilities of the parties hereto. 
 (b) Neither the Depositor nor the
Certificateholder shall be entitled to revoke or terminate the Trust. 
 (c) Notice of any termination of the Trust, specifying the
Distribution Date upon which the Certificateholder shall surrender the Certificate to the Owner Trustee for payment of the final distribution by the Certificate Paying Agent and cancellation, shall be given by the Servicer on behalf of the Owner
Trustee by letter to the Certificateholder mailed within five Business Days of receipt of notice of such termination from the Servicer given pursuant to Section 10.1(c) of the Sale and Servicing Agreement, stating (i) the Distribution Date
upon or with respect to which final payment of the Certificate shall be made upon presentation and surrender of the Certificate at the office of the Owner Trustee therein designated, (ii) the amount of any such final payment, (iii) that
the Record Date otherwise applicable to such Distribution Date is not applicable, payments being made only upon presentation and surrender of the Certificate at the office of the Owner Trustee therein specified and (iv) interest will cease to
accrue on the Certificate. The Servicer on behalf of the Owner Trustee shall give such notice to the Trust Collateral Agent at the time such notice is given to the Certificateholder. Upon presentation and surrender of the Certificate, the
Certificate Paying Agent shall cause to be distributed to the Certificateholder amounts distributable on such Distribution Date pursuant to Section 5.7 of the Sale and Servicing Agreement. 

In the event that the Certificateholder shall not surrender the Certificate for cancellation within six months after the date specified in the
above mentioned written notice, the Servicer on behalf of the Owner Trustee shall give a second written notice to the Certificateholder to surrender the Certificate for cancellation and receive the final distribution with respect thereto.

  
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If within one year after the second notice the Certificate shall not have been surrendered for cancellation, the Owner Trustee may take appropriate steps, or may appoint an agent to take
appropriate steps, to contact the Certificateholder concerning surrender of its Certificate, and the cost thereof shall be paid out of the funds and other assets that shall remain subject to this Agreement. Any funds remaining in the Trust after
exhaustion of such remedies shall be distributed, subject to applicable escheat laws, by the Owner Trustee to the Holder. 
 (d) Upon the
completion of the winding up of the Trust in accordance with Section 3808 of the Statutory Trust Statute, this Agreement shall terminate and be of no further force or effect except as expressly set forth herein and the Owner Trustee shall cause
the Certificate of Trust to be canceled by filing a certificate of cancellation with the Secretary of State in accordance with the provisions of Section 3810 of the Statutory Trust Statute. 

Article IX. 
 Successor Owner
Trustees and Additional Owner Trustees 
 SECTION 9.1. Eligibility Requirements for Owner Trustee 

The Owner Trustee shall at all times be a Person (a) satisfying the provisions of Section 3807(a) of the Statutory Trust Statute;
(b) authorized to exercise corporate trust powers; and (c) having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authorities. If such Person shall publish reports of
condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this Section, the combined capital and surplus of such Person shall be deemed to be its combined capital
and surplus as set forth in its most recent report of condition so published. In case at any time the Owner Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in the
manner and with the effect specified in Section 9.2. 
 SECTION 9.2. Resignation or Removal of Owner Trustee 

The Owner Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor
and the Servicer. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Owner Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Owner Trustee and one
copy to the successor Owner Trustee. If no successor Owner Trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Owner Trustee or the Certificateholder may
petition any court of competent jurisdiction for the appointment of a successor Owner Trustee. 
 If at any time the Owner Trustee shall
(a) cease to be eligible in accordance with the provisions of Section 9.1 and shall fail to resign after written request therefor by the Depositor, (b) be legally unable to act, or shall be adjudged bankrupt or insolvent, or a
receiver of the Owner Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Owner Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or (c) be
removed as Certificate Paying Agent pursuant to Section 3.10 

  
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hereof, then the Depositor may remove the Owner Trustee by sending written notice of such removal to the Owner Trustee. If the Depositor shall remove the Owner Trustee under the authority of the
immediately preceding sentence, the Depositor shall promptly (x) appoint a successor Owner Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Owner Trustee so removed and one copy to the
successor Owner Trustee, and (y) pay all fees owed to the outgoing Owner Trustee. 
 Any resignation or removal of the Owner Trustee
and appointment of a successor Owner Trustee pursuant to any of the provisions of this Section shall not become effective until acceptance of appointment by the successor Owner Trustee pursuant to Section 9.3 and payment of all fees and
expenses owed to the outgoing Owner Trustee. The Depositor shall provide notice of such resignation or removal of the Owner Trustee to each of the Rating Agencies. The Issuer shall pay any costs and expenses associated with the replacement of the
Owner Trustee. To the extent the Issuer fails to pay any such costs or expenses before the Distribution Date following the replacement of the Owner Trustee, the Depositor shall pay such amount then outstanding. 

SECTION 9.3. Successor Owner Trustee 

Any successor Owner Trustee appointed pursuant to Section 9.2 shall execute, acknowledge and deliver to the Depositor, the Servicer and
to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective and such successor Owner Trustee, without any further
act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon
payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement; and the Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do
such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. 

No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner
Trustee shall be eligible pursuant to Section 9.1. 
 Upon acceptance of appointment by a successor Owner Trustee pursuant to this
Section, the Servicer shall mail notice of the successor of such Owner Trustee to the Certificateholder, the Trustee, the Noteholders and the Rating Agencies. If the Servicer shall fail to mail such notice within 10 days after acceptance of
appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Servicer. 

SECTION 9.4. Merger or Consolidation of Owner Trustee 

Any Person into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any Person resulting from any
merger, conversion or consolidation to which the Owner Trustee shall be a party, or any Person succeeding to all or substantially all of 

  
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the corporate trust business of the Owner Trustee, shall be the successor of the Owner Trustee hereunder, provided such Person shall be eligible pursuant to Section 9.1, without the
execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, further, that the Owner Trustee shall mail notice of such merger or
consolidation or succession to the Depositor (who shall notify the Rating Agencies). 
 SECTION 9.5. Appointment of Co-Trustee or
Separate Trustee 
 Notwithstanding any other provisions of this Agreement, at any time, for the purpose of meeting any legal
requirements of any jurisdiction in which any part of the Owner Trust Estate or any Financed Vehicle may at the time be located, the Servicer and the Owner Trustee acting jointly shall have the power and shall execute and deliver all instruments to
appoint one or more Persons approved by the Owner Trustee to act as co-trustee, jointly with the Owner Trustee, or separate trustee or separate trustees, of all or any part of the Owner Trust Estate, and to vest in such Person, in such capacity,
such title to the Trust, or any part thereof, and, subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Servicer and the Owner Trustee may consider necessary or desirable. If the Servicer shall
not have joined in such appointment within 15 days after the receipt by it of a request to do so, the Owner Trustee shall have the power to make such appointment. No co-trustee or separate trustee under this Agreement shall be required to meet the
terms of eligibility as a successor trustee pursuant to Section 9.1 and no notice of the appointment of any co-trustee or separate trustee shall be required pursuant to Section 9.3. 

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

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

 (c) the Servicer and the Owner Trustee acting jointly may at any time accept the resignation of or remove any separate trustee or
co-trustee. 
 Any notice, request or other writing given to the Owner Trustee shall be deemed to have been given to each of the then
separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Agreement and the conditions of this Article. Each separate trustee and co-trustee,
upon its 

  
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acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Owner Trustee or separately, as may be
provided therein, subject to all the provisions of this Agreement, specifically including every provision of this Agreement relating to the conduct of, affecting the liability of, or affording protection to, the Owner Trustee. Each such instrument
shall be filed with the Owner Trustee and a copy thereof given to the Servicer. 
 Any separate trustee or co-trustee may at any time
appoint the Owner Trustee, its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name. If any separate trustee or
co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall vest in and be exercised by the Owner Trustee, to the extent permitted by law, without the appointment of a new
or successor trustee. 
 Article X. 

Miscellaneous 
 SECTION
10.1. Supplements and Amendments. 
 (a) This Agreement may be amended by the Depositor and the Owner Trustee, and with prior written
notice by the Depositor to the Rating Agencies, without the consent of any of the Noteholders or the Certificateholder, (i) to cure any ambiguity or defect or (ii) to correct, supplement or modify any provisions in this Agreement;
provided, however, that such action shall not, as evidenced by an Opinion of Counsel delivered to the Owner Trustee which may be based upon a certificate of the Servicer, adversely affect in any material respect the interests of any Noteholder or
Certificateholder. 
 (b) This Agreement may also be amended from time to time by the Depositor and the Owner Trustee, with prior written
notice by the Depositor to the Rating Agencies, to the extent such amendment materially and adversely affects the interests of the Noteholders, with the consent of the Noteholders evidencing not less than a majority of the Outstanding Amount of the
Notes, and the consent of the Certificateholder (which consent of any Holder of a Certificate or Note given pursuant to this Section or pursuant to any other provision of this Agreement shall be conclusive and binding on such Holder) 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 Certificateholder; provided, however, that no such amendment shall
(i) increase or reduce in any manner the amount of, or accelerate or delay the timing of, collections of payments on Receivables or distributions that shall be required to be made for the benefit of the Noteholders or the Certificateholder or
(ii) reduce the aforesaid percentage of the Outstanding Amount of the Notes and the Certificate balance required to consent to any such amendment, without the consent of the Holders of all the outstanding Notes and the Certificateholder. 

Promptly after the execution of any such amendment or consent, the Owner Trustee shall furnish written notification of the substance of such
amendment or consent to the Certificateholder, the Trustee and the Depositor (who shall send such notification to each of the Rating Agencies). 

  
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 It shall not be necessary for the consent of the Certificateholder, the Noteholders or the
Trustee pursuant to this Section to approve the particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining such consents (and any other consents of
the Certificateholder provided for in this Agreement or in any other Basic Document) and of evidencing the authorization of the execution thereof by the Certificateholder shall be subject to such reasonable requirements as the Owner Trustee may
prescribe. Promptly after the execution of any amendment to the Certificate of Trust, the Owner Trustee shall cause the filing of such amendment with the Secretary of State. 

Prior to the execution of any amendment to this Agreement or the Certificate of Trust, the Owner Trustee shall be entitled to receive and rely
upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and that all conditions precedent to the execution and delivery of such amendment have been satisfied. The Owner Trustee may, but
shall not be obligated to, enter into any such amendment which affects the Owner Trustee’s own rights, duties or immunities under this Agreement or otherwise. 

SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 

The Certificateholder shall not have legal title to any part of the Owner Trust Estate. The Certificateholder shall be entitled to receive
distributions in accordance with Article VIII. No transfer, by operation of law or otherwise, of any right, title or interest of the Certificateholder to and in its ownership interest in the Owner Trust Estate shall operate to terminate this
Agreement or the trust hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Owner Trust Estate. 

SECTION 10.3. Limitations on Rights of Others 

The provisions of this Agreement are solely for the benefit of the Owner Trustee, the Depositor, the Certificateholder, the Servicer and, to
the extent expressly provided herein, the Trustee, the Trust Collateral Agent and the Noteholders, and nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or
claim in the Owner Trust Estate or under or in respect of this Agreement or any covenants, conditions or provisions contained herein. 

SECTION 10.4. Notices. 

(a) Unless otherwise expressly specified or permitted by the terms hereof, all notices shall be in writing and shall be deemed given upon
receipt personally delivered, delivered by overnight courier or mailed first class mail or certified mail, in each case return receipt requested, and shall be deemed to have been duly given upon receipt, if to the Owner Trustee, addressed to the
Corporate Trust Office; if to the Depositor, addressed to AFS SenSub Corp., 2215-B Renaissance Drive, Suite 10, Las Vegas, Nevada 89119, Attention: Chief Financial Officer, with a copy to AFS SenSub Corp., c/o AmeriCredit Financial Services, Inc.,
801 Cherry Street, Suite 3500, Fort Worth, Texas 76102, Attention: Chief Financial Officer; or, as to each party, at such other address as shall be designated by such party in a written notice to each other party. 

  
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 (b) Any notice required or permitted to be given to the Certificateholder shall be given by
first-class mail, postage prepaid, at the address of the Holder. Any notice so mailed within the time prescribed in this Agreement shall be conclusively presumed to have been duly given, whether or not the Certificateholder receives such notice.

 (c) Where this Agreement provides for notice or delivery of documents to the Rating Agencies, failure to give such notice or deliver such
documents shall not affect any other rights or obligations created hereunder. 
 SECTION 10.5. Severability 

Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other
jurisdiction. 
 SECTION 10.6. Separate Counterparts 

This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an
original, regardless of whether delivered in physical or electronic form, but all such counterparts shall together constitute but one and the same instrument. 

SECTION 10.7. Assignments 

This Agreement shall inure to the benefit of and be binding upon the parties hereto, and their respective successors and permitted assigns.

 SECTION 10.8. No Recourse 

The Certificateholder by accepting a Certificate acknowledges that the Certificate represents a beneficial interest in the Trust only and does
not represent interests in or obligations of the Seller, the Servicer, the Owner Trustee, the Trustee, or any Affiliate thereof and no recourse may be had against such parties or their assets, except as may be expressly set forth or contemplated in
this Agreement, the Certificate or the Basic Documents. 
 SECTION 10.9. Headings 

The headings of the various Articles and Sections herein are for convenience of reference only and shall not define or limit any of the terms
or provisions hereof. 

  
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 SECTION 10.10. GOVERNING LAW 

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

SECTION 10.11. Servicer 

(a) The Servicer is authorized to prepare, or cause to be prepared, execute and deliver on behalf of the Trust, all such documents, reports,
filings, instruments, certificates and opinions as it shall be the duty of the Trust or Owner Trustee to prepare, file or deliver pursuant to the Basic Documents. Upon written request, the Owner Trustee shall execute and deliver to the Servicer a
limited power of attorney appointing the Servicer as the Trust’s agent and attorney-in-fact to prepare, or cause to be prepared, execute and deliver all such documents, reports, filings, instruments, certificates and opinions. 

(b) It shall be the Servicer’s duty and responsibility, and not the Owner Trustee’s duty or responsibility, to cause the Trust to
respond to, defend, participate in or otherwise act in connection with any regulatory, administrative, governmental, investigative or other proceeding or inquiry relating in any way to the Trust, its assets or the conduct of its business; provided,
that, the Owner Trustee hereby agrees to cooperate with the Servicer and to comply with any reasonable request made by the Servicer for the delivery of information or documents to the Servicer in the Owner Trustee’s actual possession relating
to any such regulatory, administrative, governmental, investigative or other proceeding or inquiry. 
 SECTION 10.12. Nonpetition
Covenants 
 (a) To the fullest extent permitted by applicable law, notwithstanding any prior termination of this Agreement, but subject
to the provisions of Section 4.5, the Certificateholder shall not, prior to the date which is one year and one day after the termination of this Agreement with respect to the Trust, acquiesce, petition or otherwise invoke or cause the Trust to
invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Trust under any federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee,
custodian, sequestrator or other similar official of the Trust or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Trust. 

(b) To the fullest extent permitted by applicable law, notwithstanding any prior termination of this Agreement, but subject to the provisions
of Section 4.5, the Owner Trustee shall not, prior to the date which is one year and one day after the termination of this Agreement, with respect to the Trust, acquiesce, petition or otherwise invoke or cause the Trust to invoke the process of
any court or government authority for the purpose of commencing or sustaining an involuntary case against the Trust under any federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian,
sequestrator or other similar official of the Trust or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Trust. 

  
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 SECTION 10.13. Regulation AB 

The Owner Trustee acknowledges and agrees that the purpose of this Section 10.13 is to facilitate compliance by the Trust with the
provisions of Regulation AB and related rules and regulations of the Commission. The Owner Trustee acknowledges that interpretations of the requirements of Regulation AB may change over time, whether due to interpretive guidance provided by the
Commission or its staff, consensus among participants in the asset-backed securities markets, advice of counsel, or otherwise, and agrees hereby to comply with reasonable requests made by the Servicer in good faith for delivery of information under
these provisions on the basis of evolving interpretations of Regulation AB. The Owner Trustee shall cooperate fully with the Servicer and the Trust to deliver to the Servicer and the Trust any and all statements, reports, certifications, records and
any other information necessary in the good faith determination of the Servicer to permit the Servicer and the Trust to comply with the provisions of Regulation AB, together with such disclosures relating to the Owner Trustee reasonably believed by
the Servicer to be necessary in order to effect such compliance. 
 Article XI. 

Application of Trust Funds; Certain Duties 

SECTION 11.1. Establishment of Trust Accounts 

(a) The Owner Trustee, for the benefit of the Certificateholder, shall cause the Certificate Paying Agent to establish and maintain in the
name of the Trust a distribution non-interest bearing account (the “Certificate Distribution Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Certificateholder. The
Certificate Distribution Account shall be maintained as an Eligible Deposit Account. 
 (b) The Trust shall possess all right, title and
interest in all funds on deposit from time to time in the Certificate Distribution Account and in all proceeds thereof. Except as otherwise expressly provided herein, the Certificate Distribution Account shall be under the sole dominion and control
of the Owner Trustee for the benefit of the Certificateholder. If, at any time, the Certificate Distribution Account ceases to be an Eligible Deposit Account, the Certificate Paying Agent shall within 10 Business Days establish a new Certificate
Distribution Account as an Eligible Deposit Account and shall transfer any cash or any investments to such new Certificate Distribution Account. 

SECTION 11.2. Application of Trust Funds 

(a) On each Distribution Date, the Owner Trustee shall cause the Certificate Paying Agent to distribute amounts deposited in the Certificate
Distribution Account pursuant to the Sale and Servicing Agreement with respect to such Distribution Date in the following order of priority: 

(i) to make payments to the Certificateholder any remaining amount deposited therein; and 

(ii) to clear and terminate the Certificate Distribution Account upon the termination of this Agreement. 

  
 33 

 (b) In the event that any withholding tax is imposed on the Trust’s payment (or allocations
of income) to the Certificateholder, such tax shall reduce the amount otherwise distributable to the Certificateholder in accordance with this Section. The Owner Trustee or Certificate Paying Agent is hereby authorized and directed to retain from
amounts otherwise distributable to the Certificateholder sufficient funds for the payment of any tax that is legally owed by the Trust (but such authorization shall not prevent the Owner Trustee or the Certificate Paying Agent from contesting any
such tax in appropriate proceedings and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings). The amount of any withholding tax imposed with respect to the Certificateholder shall be treated as cash
distributed to the Certificateholder at the time it is withheld by the Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution (such as a distribution to a
non-U.S. Certificateholder), the Owner Trustee or the Certificate Paying Agent may in its sole discretion withhold such amounts in accordance with this paragraph. 

(c) Any Holder of the Certificate that is organized under the laws of a jurisdiction outside the United States shall, on or prior to the date
such Holder becomes a Holder, (i) shall notify the Owner Trustee and the Certificate Paying Agent and (ii)(A) provide the Owner Trustee and the Certificate Paying Agent with Internal Revenue Service form W-8BEN, W-8BEN-E, W-8ECI or W-8EXP (or
successor forms), as appropriate, or (B) notify the Owner Trustee and the Certificate Paying Agent that it is not entitled to an exemption from United States withholding tax or a reduction in the rate thereof on payments of interest. Any such
Holder agrees by its acceptance of the Certificate, on an ongoing basis, to provide like certification for each taxable year and to notify the Owner Trustee and the Certificate Paying Agent should subsequent circumstances arise affecting the
information provided the Owner Trustee or the Certificate Paying Agent in clauses (i) and (ii) above. The Owner Trustee and the Certificate Paying Agent shall be fully protected in relying upon, and each Holder by its acceptance of the
Certificate hereunder agrees to indemnify and hold the Owner Trustee and the Certificate Paying Agent harmless against all claims or liability of any kind arising in connection with or related to the Owner Trustee’s and the Certificate Paying
Agent’s reliance upon any documents, forms or information provided by any Holder to the Owner Trustee and the Certificate Paying Agent. 

SECTION 11.3. Method of Payment 

Distributions required to be made to the Certificateholder on any Distribution Date shall be made to the Certificateholder of record on the
preceding Record Date either by wire transfer, in immediately available funds, to the account of the Certificateholder at a bank or other entity having appropriate facilities therefor, if the Certificateholder shall have provided to the Certificate
Registrar and the Certificate Paying Agent appropriate written instructions at least five Business Days prior to such Distribution Date, or, if not, by check mailed to the Certificateholder at the address of the Certificateholder appearing in the
Certificate Register. 

  
 34 

 [Remainder of Page Intentionally Left Blank] 

  
 35 

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

			
	 WILMINGTON TRUST COMPANY,

as Owner Trustee

		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 AFS SENSUB CORP.,

as Seller

		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	ACKNOWLEDGED AND AGREED TO:
	
	GENERAL MOTORS FINANCIAL COMPANY, INC.,
	Solely with respect to Sections 7.1 and 7.2
		
	By:	 	  

	Name:	 	
	Title:	 	

 [Signature Page to Amended and Restated Trust Agreement] 

 EXHIBIT A 

NUMBER 
 R-1 

SEE REVERSE FOR CERTAIN DEFINITIONS 

THIS CERTIFICATE IS NOT TRANSFERABLE, 

EXCEPT UNDER THE LIMITED CONDITIONS 

SPECIFIED IN THE TRUST AGREEMENT 
  

 
 ASSET BACKED
CERTIFICATE 
 evidencing a beneficial ownership interest in certain distributions of the Trust, as defined below, the property of which includes a pool of
retail installment sale contracts secured by new or used automobiles, vans or light duty trucks and sold to the Trust by AFS SenSub Corp. 
 (This
Certificate does not represent an interest in or obligation of AFS SenSub Corp. or any of its Affiliates, except to the extent described below.) 

THIS CERTIFIES THAT AFS SenSub Corp. is the registered owner of a nonassessable, fully-paid, beneficial ownership interest in certain
distributions of AmeriCredit Automobile Receivables Trust 2016-2 (the “Trust”) formed by AFS SenSub Corp., a Nevada corporation (the “Seller”). 

The Trust was created pursuant to a Trust Agreement dated as of March 8, 2016, as amended and restated as of April 6, 2016 (the
“Trust Agreement”), between the Seller and Wilmington Trust Company, as owner trustee (the “Owner Trustee”), a summary of certain of the pertinent provisions of which is set forth below. To the extent not otherwise
defined herein, the capitalized terms used herein have the meanings assigned to them in the Trust Agreement. 
 This is the duly authorized
Certificate designated as “Asset Backed Certificate” (herein called the “Certificate”). Also issued under the Indenture, dated as of April 6, 2016, among the Trust and Citibank, N.A., as trustee and indenture
collateral agent, are six classes of Notes designated as “Class A-1 0.75000% Asset Backed Notes” (the “Class A-1 Notes”), “Class A-2-A 1.42% Asset Backed Notes” (the “Class A-2-A Notes”),
“Class A-2-B Floating Rate Asset Backed Notes” (the “Class A-2-B Notes” and together with the Class A-2-A Notes, the “Class A-2 Notes”), “Class A-3 1.60% Asset Backed Notes” (the
“Class A-3 Notes” and together with the Class A-1 Notes and the Class A-2 Notes, the “Class A Notes”), “Class B 2.21% Asset Backed Notes” (the “Class B Notes”), “Class C
2.87% Asset Backed Notes” (the “Class C Notes”), “Class D 3.65% Asset Backed Notes” (the “Class D Notes”) and “Class E 0.00% Asset Backed Notes” (the “Class E Notes”) (and
collectively with the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes, the “Notes”). This Certificate is issued under and is subject to the terms, provisions and conditions of the
Trust Agreement, to which Trust Agreement the holder of this Certificate by virtue of the acceptance hereof assents and by 

 
which such holder is bound. The property of the Trust includes a pool of retail installment sale contracts secured by new and used automobiles, vans or light duty trucks (the
“Receivables”), all monies due thereunder on or after the Cutoff Date, security interests in the vehicles financed thereby, certain bank accounts and the proceeds thereof, proceeds from claims on certain insurance policies and
certain other rights under the Trust Agreement and the Sale and Servicing Agreement, all right, title and interest of the Seller in and to the Purchase Agreement, dated as of April 6, 2016 between AmeriCredit Financial Services, Inc. and the
Seller and all proceeds of the foregoing. 
 The holder of this Certificate acknowledges and agrees that its rights to receive distributions
in respect of this Certificate are subordinated to the rights of the Noteholders as described in the Sale and Servicing Agreement, the Indenture and the Trust Agreement, as applicable. 

Distributions on this Certificate will be made as provided in the Trust Agreement or any other Basic Document by wire transfer or check mailed
to the Certificateholder without the presentation or surrender of this Certificate or the making of any notation hereon. Except as otherwise provided in the Trust Agreement and notwithstanding the above, the final distribution on this Certificate
will be made after due notice by the Servicer on behalf of the Owner Trustee of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency maintained for the purpose by the Owner Trustee in
the Corporate Trust Office. 
 Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which
further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication
hereon shall have been executed by an authorized officer of the Owner Trustee, by manual signature, this Certificate shall not entitle the holder hereof to any benefit under the Trust Agreement or the Sale and Servicing Agreement or be valid for any
purpose. 
 THIS CERTIFICATE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO
ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

  
 A-2 

 IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Trust and not in its individual capacity,
has caused this Certificate to be duly executed. 
  

									
		 		 		 	 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2016-2

					
		 		 		 	By:	 	 WILMINGTON TRUST COMPANY,
 not in its individual
capacity but
 solely as Owner Trustee

					
	Dated: April 14, 2016	 		 		 	By:	 	  

		 		 		 	Name:	 	
		 		 		 	Title:	 	

 OWNER TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

 

			
	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as
	Owner Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 A-3 

 (Reverse of Certificate) 

The Certificate does not represent an obligation of, or an interest in, the Seller, the Servicer, the Owner Trustee or any Affiliates of any
of them and no recourse may be had against such parties or their assets, except as may be expressly set forth or contemplated herein or in the Trust Agreement, the Indenture or the Basic Documents. In addition, this Certificate is not guaranteed by
any governmental agency or instrumentality and is limited in right of payment to certain collections with respect to the Receivables, all as more specifically set forth herein and in the Sale and Servicing Agreement. A copy of each of the Sale and
Servicing Agreement and the Trust Agreement may be examined during normal business hours at the principal office of the Seller, and at such other places, if any, designated by the Seller, by the Certificateholder upon written request. 

The Trust Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and
obligations of the Seller under the Trust Agreement at any time by the Seller and the Owner Trustee with the consent of the Majority Noteholders and the Certificateholder. Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and on all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent is made upon this Certificate. The Trust
Agreement also permits the amendment thereof, in certain limited circumstances, without the consent of the Certificateholder. 
 As provided
in the Trust Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices or agencies of
the Certificate Registrar maintained by the Owner Trustee in the Corporate Trust Office, accompanied by a written instrument of transfer in form satisfactory to the Owner Trustee and the Certificate Registrar duly executed by the holder hereof or
such holder’s attorney duly authorized in writing, and thereupon a new Certificate evidencing the same aggregate interest in the Trust will be issued to the designated transferee. The initial Certificate Registrar appointed under the Trust
Agreement is Wilmington Trust Company. No service charge will be made for any such registration of transfer or exchange, but the Owner Trustee or the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental
charge payable in connection therewith. 
 No sale or transfer of a Certificate shall be permitted (including, without limitation, by pledge
or hypothecation), and no such sale or transfer shall be registered by the Certificate Registrar or be effective hereunder, if the sale or transfer thereof increases to more than 99 the sum of the number of Certificateholders. 

The Owner Trustee and any agent of the Owner Trustee may treat the person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Owner Trustee nor any such agent shall be affected by any notice to the contrary. 
 The obligations and
responsibilities created by the Trust Agreement and the Trust created thereby shall terminate upon the payment to the Certificateholder of all amounts required to be paid to it pursuant to the Trust Agreement and the Sale and Servicing Agreement and
the 

  
 A-4 

 
disposition of all property held as part of the Trust. The Seller or the Servicer of the Receivables may at its option purchase the corpus of the Trust at a price specified in the Sale and
Servicing Agreement, and such purchase of the Receivables and other property of the Trust will effect early retirement of the Certificate; however, such right of purchase is exercisable, subject to certain restrictions, only as of the last day of
any Collection Period as of which the Pool Balance is 10% or less of the Original Pool Balance. 
 The Certificate may not be acquired by or
for the account of (i) an “employee benefit plan” (as defined in Section 3(3) of ERISA) that is subject to the fiduciary responsibility provisions of Title I of ERISA, (ii) a “plan” (within the meaning of
Section 4975(e)(1) of the Code) that is subject to Section 4975 of the Code, (iii) any entity whose underlying assets include assets of an employee benefit plan or a plan described in (i) or (ii) above by reason of such
employee benefit plan’s or plan’s investment in the entity (collectively, a “Benefit Plan Investor”), or (iv) an employee benefit plan, a plan or other similar arrangement that is not a Benefit Plan Investor but is
subject to federal, state, local, non-U.S. or other laws or regulations that are substantially similar to Section 406 of ERISA or Section 4975 of the Code (each of (i) – (iv), a “Benefit Plan Entity”). By
accepting and holding this Certificate, the Holder hereof shall be deemed to have represented and warranted that it is not a Benefit Plan Entity. 

The recitals contained herein shall be taken as the statements of the Depositor or the Servicer, as the case may be, and the Owner Trustee
assumes no responsibility for the correctness thereof. The Owner Trustee makes no representations as to the validity or sufficiency of this Certificate or of any Receivable or related document. 

Unless the certificate of authentication hereon shall have been executed by an authorized officer of the Owner Trustee, by manual or facsimile signature, this
Certificate shall not entitle the Holder hereof to any benefit under the Trust Agreement or the Sale and Servicing Agreement or be valid for any purpose. 

  
 A-5 

 ASSIGNMENT 

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

PLEASE INSERT SOCIAL SECURITY 
 OR OTHER IDENTIFYING NUMBER 

OF ASSIGNEE 
  
  

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

 
 the within Certificate, and all rights thereunder,
hereby irrevocably constituting and appointing 

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

 

							
	Dated:	 		 	  
	 	*
		 		 	Signature	 	
				
	Guaranteed:	 		 	  
	 	*

  

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

  
 A-6 

 EXHIBIT B 

FORM OF 
 CERTIFICATE OF
TRUST 
 OF 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2016-2 

THIS Certificate of Trust of AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2016-2 (the “Trust”) is being duly executed and filed
on behalf of the Trust by the undersigned, as trustee, to form a statutory trust under the Delaware Statutory Trust Act (12 Del. C. § 3801 et seq.) (the “Act”). 

1. Name. The name of the statutory trust formed by this Certificate of Trust is “AmeriCredit Automobile Receivables
Trust 2016-2.” 
 2. Delaware Trustee. The name and business address of the trustee of the Trust in the State of
Delaware is Wilmington Trust Company, Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890-0001. 
 3. Effective
Date. This Certificate of Trust shall be effective upon filing. 
 IN WITNESS WHEREOF, the undersigned has duly executed this
Certificate of Trust in accordance with Section 3811(a)(1) of the Act. 
  

			
	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as trustee of the Trust
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 B-1 

 EXHIBIT C 

Form of 
 Notice of
Repurchase Request 
 [            ], 20[     ] 

AmeriCredit Financial Services, Inc. 
 d/b/a GM Financial 

as Servicer 
 801 Cherry Street, Suite 3500 

Fort Worth, Texas 76102, 
 Attention: Chief Financial Officer 

GMF Leasing LLC, 
 as Depositor 

801 Cherry Street, Suite 3500 
 Fort Worth, Texas 76102, 

Attention: Chief Financial Officer 
 AFS SenSub Corp., 

as Seller 
 2215-B Suite 10 

Las Vegas, Nevada 89119 
 Attention: Chief Financial Officer 

GMF Funding c/o GM Financial 
 801 Cherry Street, Suite 3500 

Fort Worth, Texas 76102 
 Attention: Chief Financial Officer 

AmeriCredit Funding Corp. XI, 
 as a Seller 

801 Cherry Street, Suite 3500 
 Fort Worth, Texas 76102 

Attention: Chief Financial Officer 
  

	 	Re:	Notice of Requests to Repurchase Receivables 

 Reference is hereby made to each of the
Amended and Restated Trust Agreements set forth on Schedule A (each, an “Agreement”), for which Wilmington Trust Company, a Delaware trust company has acted in the capacity of owner trustee (in each case, the “Owner
Trustee”). This Notice is being delivered pursuant to Section 5.7 or 6.7, as applicable, of the related Agreement. 

  
 C-1 

 [During the period from and including
[            ], 20[    ] to but excluding [            ], 20[    ], the Owner Trustee
received no requests requesting that Receivables be repurchased.] 
 [During the period from and including
[            ], 20[    ] to but excluding [            ], 20[    ] the Owner Trustee
received one or more requests requesting that Receivables be repurchased. Copies of such requests received in writing are attached, and details of any such requests received orally are set forth below: 

 

							
	 Agreement
	  	 Date of Request
	  	 Number of

Receivables

Subject to Request
	  	 Aggregate Principal

Balance of

Receivables Subject

to Request

		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	

 This notice, and requests contained herein are being sent to you in connection with compliance with Rule
15Ga-1 of the Securities Exchange Act of 1934. In no event will the Owner Trustee or any of the related Issuers have any responsibility or liability in connection with (i) the compliance by the related Servicer, the related Depositor or any
other Person with the Exchange Act or Regulation AB or (ii) any filing required to be made by a securitizer under the Exchange Act or Regulation AB. 

Capitalized terms used but not defined herein shall have the meanings given to them in the related Agreement. 

 

			
	 WILMINGTON TRUST COMPANY,

not in its individual capacity but solely as

	Owner Trustee of the Issuer
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 C-2 

 Schedule A 

Agreements 
 [To be provided] 

  
 C-3EX-4.3

 EXHIBIT 4.3 

SALE AND SERVICING 
 AGREEMENT 

among 
 AMERICREDIT AUTOMOBILE
RECEIVABLES TRUST 2016-2, 
 Issuer, 

AFS SENSUB CORP., 
 Seller, 

AMERICREDIT FINANCIAL SERVICES, INC., 

Servicer, 
 and 

CITIBANK, N.A, 
 Trust Collateral
Agent 
 Dated as of April 6, 2016 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
		
	 ARTICLE I Definitions
	  	 	1	  
			
	 SECTION 1.1.
	 	 Definitions
	  	 	1	  
	 SECTION 1.2.
	 	 Other Definitional Provisions
	  	 	20	  
		
	 ARTICLE II Conveyance of Receivables
	  	 	20	  
			
	 SECTION 2.1.
	 	 Conveyance of Receivables
	  	 	20	  
	 SECTION 2.2.
	 	 [Reserved]
	  	 	21	  
	 SECTION 2.3.
	 	 Further Encumbrance of Trust Property
	  	 	21	  
	 SECTION 2.4.
	 	 Intention of the Parties
	  	 	22	  
		
	 ARTICLE III The Receivables
	  	 	23	  
			
	 SECTION 3.1.
	 	 Representations and Warranties of Seller
	  	 	23	  
	 SECTION 3.2.
	 	 Repurchase upon Breach
	  	 	24	  
	 SECTION 3.3.
	 	 Custody of Receivable Files
	  	 	25	  
	 SECTION 3.4.
	 	 Maintenance and Safekeeping of the Receivable Files
	  	 	26	  
	 SECTION 3.5.
	 	 Location of Receivables Files
	  	 	26	  
	 SECTION 3.6.
	 	 Access to Records
	  	 	26	  
	 SECTION 3.7.
	 	 Advice of Counsel
	  	 	27	  
	 SECTION 3.8.
	 	 Administration; Reports
	  	 	27	  
	 SECTION 3.9.
	 	 Instructions; Authority to Act
	  	 	27	  
	 SECTION 3.10.
	 	 Custodian Fee
	  	 	27	  
	 SECTION 3.11.
	 	 Indemnification by the Custodian
	  	 	27	  
	 SECTION 3.12.
	 	 Effective Period and Termination of Custodian
	  	 	27	  
	 SECTION 3.13.
	 	 Dispute Resolution
	  	 	28	  
		
	 ARTICLE IV Administration and Servicing of Receivables
	  	 	31	  
			
	 SECTION 4.1.
	 	 Duties of the Servicer
	  	 	31	  
	 SECTION 4.2.
	 	 Collection of Receivable Payments; Modifications of Receivables; Lockbox Agreements
	  	 	32	  
	 SECTION 4.3.
	 	 Realization upon Receivables
	  	 	34	  
	 SECTION 4.4.
	 	 Insurance
	  	 	36	  
	 SECTION 4.5.
	 	 Maintenance of Security Interests in Vehicles
	  	 	37	  
	 SECTION 4.6.
	 	 Covenants, Representations, and Warranties of Servicer
	  	 	38	  
	 SECTION 4.7.
	 	 Purchase of Receivables Upon Breach of Covenant
	  	 	39	  
	 SECTION 4.8.
	 	 Total Servicing Fee; Payment of Certain Expenses by Servicer
	  	 	40	  
	 SECTION 4.9.
	 	 Servicer’s Certificate
	  	 	40	  
	 SECTION 4.10.
	 	 Annual Statement as to Compliance, Notice of Servicer Termination Event
	  	 	40	  
	 SECTION 4.11.
	 	 Annual Independent Public Accountants’ Reports
	  	 	41	  
	 SECTION 4.12.
	 	 Access to Certain Documentation and Information Regarding Receivables
	  	 	42	  

  
 i 

							
	 ARTICLE V Trust Accounts; Distributions; Statements to Noteholders
	  	 	42	  
			
	 SECTION 5.1.
	 	 Establishment of Trust Accounts.
	  	 	42	  
	 SECTION 5.2.
	 	 [Reserved]
	  	 	45	  
	 SECTION 5.3.
	 	 Certain Reimbursements to the Servicer
	  	 	45	  
	 SECTION 5.4.
	 	 Application of Collections
	  	 	45	  
	 SECTION 5.5.
	 	 [Reserved]
	  	 	46	  
	 SECTION 5.6.
	 	 Additional Deposits
	  	 	46	  
	 SECTION 5.7.
	 	 Distributions
	  	 	46	  
	 SECTION 5.8.
	 	 Reserve Account
	  	 	50	  
	 SECTION 5.9.
	 	 Statements to Noteholders
	  	 	51	  
	 SECTION 5.10.
	 	 Determination of LIBOR
	  	 	52	  
		
	 ARTICLE VI [Reserved]
	  	 	52	  
		
	 ARTICLE VII The Seller
	  	 	53	  
			
	 SECTION 7.1.
	 	 Representations of Seller
	  	 	53	  
	 SECTION 7.2.
	 	 Corporate Existence
	  	 	55	  
	 SECTION 7.3.
	 	 Liability of Seller; Indemnities
	  	 	55	  
	 SECTION 7.4.
	 	 Merger or Consolidation of, or Assumption of the Obligations of, Seller
	  	 	56	  
	 SECTION 7.5.
	 	 Limitation on Liability of Seller and Others
	  	 	57	  
	 SECTION 7.6.
	 	 Ownership of the Certificates or Notes
	  	 	57	  
		
	 ARTICLE VIII The Servicer
	  	 	57	  
			
	 SECTION 8.1.
	 	 Representations of Servicer
	  	 	57	  
	 SECTION 8.2.
	 	 Liability of Servicer; Indemnities
	  	 	59	  
	 SECTION 8.3.
	 	 Merger or Consolidation of, or Assumption of the Obligations of the Servicer
	  	 	60	  
	 SECTION 8.4.
	 	 Limitation on Liability of Servicer and Others
	  	 	61	  
	 SECTION 8.5.
	 	 Delegation of Duties
	  	 	61	  
	 SECTION 8.6.
	 	 Servicer Not to Resign
	  	 	61	  
		
	 ARTICLE IX Default
	  	 	62	  
			
	 SECTION 9.1.
	 	 Servicer Termination Event
	  	 	62	  
	 SECTION 9.2.
	 	 Consequences of a Servicer Termination Event
	  	 	63	  
	 SECTION 9.3.
	 	 Appointment of Successor
	  	 	64	  
	 SECTION 9.4.
	 	 Notification to Noteholders
	  	 	64	  
	 SECTION 9.5.
	 	 Waiver of Past Defaults
	  	 	64	  
		
	 ARTICLE X Termination
	  	 	65	  
			
	 SECTION 10.1.
	 	 Optional Purchase of All Receivables
	  	 	65	  
		
	 ARTICLE XI Administrative Duties of the Servicer
	  	 	65	  
			
	 SECTION 11.1.
	 	 Administrative Duties
	  	 	65	  
	 SECTION 11.2.
	 	 Records
	  	 	68	  

  
 ii 

							
	 SECTION 11.3.
	 	 Additional Information to be Furnished to the Issuer
	  	 	68	  
	 SECTION 11.4.
	 	 Review Reports
	  	 	68	  
		
	 ARTICLE XII Miscellaneous Provisions
	  	 	68	  
			
	 SECTION 12.1.
	 	 Amendment
	  	 	68	  
	 SECTION 12.2.
	 	 Protection of Title to Trust
	  	 	69	  
	 SECTION 12.3.
	 	 Notices
	  	 	71	  
	 SECTION 12.4.
	 	 Assignment
	  	 	72	  
	 SECTION 12.5.
	 	 Limitations on Rights of Others
	  	 	72	  
	 SECTION 12.6.
	 	 Severability
	  	 	72	  
	 SECTION 12.7.
	 	 Separate Counterparts
	  	 	72	  
	 SECTION 12.8.
	 	 Headings
	  	 	72	  
	 SECTION 12.9.
	 	 Governing Law
	  	 	72	  
	 SECTION 12.10.
	 	 Assignment to Trust Collateral Agent
	  	 	72	  
	 SECTION 12.11.
	 	 Nonpetition Covenants
	  	 	73	  
	 SECTION 12.12.
	 	 Limitation of Liability of Owner Trustee and Trust Collateral Agent
	  	 	73	  
	 SECTION 12.13.
	 	 Trust Collateral Agent to Report Repurchase Demands due to Breaches of Representations and
Warranties
	  	 	74	  
	 SECTION 12.14.
	 	 Independence of the Servicer
	  	 	74	  
	 SECTION 12.15.
	 	 No Joint Venture
	  	 	74	  
	 SECTION 12.16.
	 	 State Business Licenses
	  	 	75	  
	 SECTION 12.17.
	 	 Submission to Jurisdiction; Waiver of Jury Trial
	  	 	75	  

 SCHEDULES 
  

			
	Schedule A	  	Schedule of Receivables
	Schedule B-1	  	Representations and Warranties of the Seller and the Servicer Regarding the Receivables
	Schedule B-2	  	Representations and Warranties of the Seller and the Servicer Regarding the Pool of Receivables
	Schedule C	  	Servicing Policies and Procedures
		
	EXHIBITS	  	
		
	Exhibit A	  	Form of Servicer’s Certificate

  
 iii 

 SALE AND SERVICING AGREEMENT, dated as of April 6, 2016, among AMERICREDIT AUTOMOBILE
RECEIVABLES TRUST 2016-2, a Delaware statutory trust (the “Issuer”), AFS SENSUB CORP., a Nevada corporation (the “Seller”), AMERICREDIT FINANCIAL SERVICES, INC., a Delaware corporation (the
“Servicer”), and CITIBANK, N.A., a national banking association, in its capacity as Trust Collateral Agent. 
 WHEREAS the
Issuer desires to purchase a portfolio of receivables arising in connection with motor vehicle retail installment sale contracts made by AmeriCredit Financial Services, Inc. or an Originating Affiliate or acquired by AmeriCredit Financial Services,
Inc. or an Originating Affiliate through motor vehicle dealers; 
 WHEREAS the Seller has purchased such receivables from AmeriCredit
Financial Services, Inc. and is willing to sell such receivables to the Issuer; 
 WHEREAS the Servicer is willing to service all such
receivables; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties hereto agree as
follows: 
 ARTICLE I 

Definitions 
 SECTION 1.1.
Definitions. Whenever used in this Agreement, the following words and phrases shall have the following meanings: 

“Accelerated Principal Amount” for a Distribution Date will equal the lesser of 

(x) the excess, if any, of the amount of Available Funds on such Distribution Date over the amounts payable on such
Distribution Date pursuant to clauses (i) through (xix) of Section 5.7(a); and 
 (y) the excess, if any, on
such Distribution Date of (i) the Pro Forma Note Balance for such Distribution Date over (ii) the Required Pro Forma Note Balance for such Distribution Date. 

“Accountants’ Report” means the report of a firm of nationally recognized Independent Accountants described in
Section 4.11. 
 “Accounting Date” means, with respect to any Collection Period the last day of such Collection
Period. 
 “ADR Organization” means The American Arbitration Association or, if The American Arbitration Association no
longer exists or if its ADR Rules would no longer permit mediation or arbitration, as applicable, of the dispute, another nationally recognized mediation or arbitration organization selected by AmeriCredit. 

 “ADR Rules” means the relevant rules of the ADR Organization for mediation
(including non-binding arbitration) or binding arbitration, as applicable, of commercial disputes in effect at the time of the mediation or arbitration. 

“Affiliate” means, with respect to any specified Person, any other Person controlling or controlled by or under common
control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the
ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Aggregate Principal Balance” means, with respect to any date of determination, the sum of the Principal Balances for all
Receivables (other than (i) any Receivable that became a Liquidated Receivable prior to the end of the related Collection Period and (ii) any Receivable that became a Purchased Receivable prior to the end of the related Collection Period)
as of the date of determination. 
 “Agreement” means this Sale and Servicing Agreement, as the same may be amended and
supplemented from time to time. 
 “AmeriCredit” means AmeriCredit Financial Services, Inc. 

“Amount Financed” means, with respect to a Receivable, the aggregate amount advanced under such Receivable toward the
purchase price of the Financed Vehicle and any related costs, including amounts advanced in respect of accessories, insurance premiums, service contracts, car club and warranty contracts, other items customarily financed as part of motor vehicle
retail installment sale contracts or promissory notes, and related costs. 
 “Annual Percentage Rate” or
“APR” of a Receivable means the annual percentage rate of finance charges or service charges, as stated in the related Contract. 

“Asset Representations Review Agreement” means the Asset Representations Review Agreement, dated as of April 6, 2016,
among the Issuer, the Servicer, the Trustee and the Asset Representations Reviewer. 
 “Asset Representations Reviewer”
means Clayton Fixed Income Services LLC, a Delaware limited liability company. 
 “Asset Review” means, for any Asset
Review Notice, the performance by the Asset Representations Reviewer of each Asset Test stated in Schedule A to the Asset Representations Review Agreement for each Asset Review Receivable. 

“Asset Review Notice” means the notice from the Trustee to the Asset Representations Reviewer and the Servicer directing the
Asset Representations Reviewer to perform an Asset Review under Section 3.4 of the Asset Representations Review Agreement. 

  
 2 

 “Asset Review Receivable” means, for any Asset Review, each Receivable that was
a Delinquent Receivable for purposes of calculating the Delinquency Trigger in connection with which the related Asset Review Notice was delivered. 

“Asset Test” means, for an Asset Review, each Test, as defined in the Asset Representations Review Agreement, in Schedule A
to the Asset Representations Review Agreement to be performed by the Asset Representations Reviewer on the related Asset Review Receivables. 

“Available Funds” means, with respect to any Distribution Date, the sum of (i) the Collected Funds for the related
Collection Period, (ii) all Purchase Amounts deposited in the Trust Accounts during the related Collection Period, plus Investment Earnings with respect to the Trust Accounts for the related Collection Period, (iii) following the
acceleration of the Notes pursuant to Section 5.2 of the Indenture, the amount of money or property collected pursuant to Section 5.3 of the Indenture since the preceding Distribution Date by the Trust Collateral Agent for distribution
pursuant to Section 5.6 and Section 5.8 of the Indenture, (iv) the proceeds of any purchase or sale of the assets of the Trust described in Section 10.1 and (v) amounts, if any, released from the Reserve Account pursuant to
Section 5.8(c) on such Distribution Date. 
 “Base Servicing Fee” means, with respect to any Collection Period, the
fee payable to the Servicer for services rendered during such Collection Period, which shall be equal to the product of (i) the Servicing Fee Rate times (ii) the aggregate Principal Balance of the Receivables as of the opening of business
on the first day of such Collection Period (or, in the case of the first Distribution Date, April 7, 2016) times (iii) one-twelfth (or, in the case of the first Distribution Date, a fraction equal to the number of days from and including
April 7, 2016 through and including April 30, 2016, over 360). 
 “Basic Documents” means this Agreement, the
Certificate of Trust, the Trust Agreement, the Purchase Agreement, the Indenture, the Lockbox Account Agreement, the Lockbox Processing Agreement, the Asset Representations Review Agreement, the Underwriting Agreement, the Purchase Agreement and
other documents and certificates delivered in connection therewith. 
 “Business Day” means any day other than a Saturday,
a Sunday, a legal holiday or other day on which commercial banking institutions located in Wilmington, Delaware, Fort Worth, Texas or New York, New York or any other location of any successor Servicer, successor Owner Trustee or successor Trust
Collateral Agent are authorized or obligated by law, executive order or governmental decree to be closed. 
 “Calculation
Agent” shall have the meaning set forth in Section 5.10. 
 “Certificate” means the trust certificate
evidencing the beneficial interest of the Certificateholder in the Trust. 
 “Certificate Distribution Account” has the
meaning assigned to such term in the Trust Agreement. 
 “Certificateholder” means the Person in whose name the Certificate
is registered. 

  
 3 

 “Class” means the Class A-1 Notes, the Class A-2-A Notes, the
Class A-2-B Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes, the Class D Notes and/or the Class E Notes, as the context requires. 

“Class A Notes” means the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes. 

“Class A Principal Parity Amount” means, with respect to any Distribution Date, the lesser of (I) the excess, if any, of
(x) the aggregate remaining principal balance of the Class A Notes immediately prior to such Distribution Date over (y) the Pool Balance as of the end of the immediately preceding Collection Period and (II) the amount of Total
Available Funds remaining on deposit in the Collection Account after the funding of the items described in clauses (i) through (iii) of Section 5.7(a) on such Distribution Date. 

“Class A-1 Notes” has the meaning assigned to such term in the Indenture. 

“Class A-2 Notes” has the meaning assigned to such term in the Indenture. 

“Class A-2-A Notes” has the meaning assigned to such term in the Indenture. 

“Class A-2-B Notes” has the meaning assigned to such term in the Indenture. 

“Class A-3 Notes” has the meaning assigned to such term in the Indenture. 

“Class B Notes” has the meaning assigned to such term in the Indenture. 

“Class B Principal Parity Amount” means, with respect to any Distribution Date, the lesser of (I) the excess of
(A) the excess, if any, of (x) the aggregate remaining principal balance of the Class A Notes and of the Class B Notes, in each case immediately prior to such Distribution Date over (y) the Pool Balance as of the end of the
immediately preceding Collection Period over (B) the sum of the Class A Principal Parity Amount for such Distribution Date plus any payments made on the Class A Notes as a Matured Principal Shortfall on such Distribution Date and (II)
the amount of Total Available Funds remaining on deposit in the Collection Account after the funding of the items described in clauses (i) through (vi) of Section 5.7(a) on such Distribution Date. 

“Class C Notes” has the meaning assigned to such term in the Indenture. 

“Class C Principal Parity Amount” means, with respect to any Distribution Date, the lesser of (I) the excess of
(A) the excess, if any, of (x) the aggregate remaining principal balance of the Class A Notes, of the Class B Notes and of the Class C Notes, in each case immediately prior to such Distribution Date over (y) the Pool Balance as
of the end of the immediately preceding Collection Period over (B) the sum of the Class A Principal Parity Amount and the Class B Principal Parity Amount for such Distribution Date plus any payments made on the Class A Notes or the
Class B Notes as a Matured Principal Shortfall on such Distribution Date and (II) the amount of Total Available Funds remaining on deposit in the Collection Account after the funding of the items described in clauses (i) through (ix) of
Section 5.7(a) on such Distribution Date. 

  
 4 

 “Class D Notes” has the meaning assigned to such term in the Indenture. 

“Class D Principal Parity Amount” means, with respect to any Distribution Date, the lesser of (I) the excess of
(A) the excess, if any, of (x) the aggregate remaining principal balance of the Class A Notes, of the Class B Notes, of the Class C Notes and of the Class D Notes, in each case immediately prior to such Distribution Date over
(y) the Pool Balance as of the end of the immediately preceding Collection Period over (B) the sum of the Class A Principal Parity Amount, the Class B Principal Parity Amount and the Class C Principal Parity Amount for such
Distribution Date plus any payments made on the Class A Notes, the Class B Notes or the Class C Notes as a Matured Principal Shortfall on such Distribution Date and (II) the amount of Total Available Funds remaining on deposit in the Collection
Account after the funding of the items described in clauses (i) through (xii) of Section 5.7(a) on such Distribution Date. 

“Class E Notes” has the meaning assigned to such term in the Indenture. 

“Class E Principal Parity Amount” means, with respect to any Distribution Date, the lesser of (I) the excess of
(A) the excess, if any, of (x) the aggregate remaining principal balance of the Class A Notes, of the Class B Notes, of the Class C Notes, of the Class D Notes and of the Class E Notes, in each case immediately prior to such
Distribution Date over (y) the Pool Balance as of the end of the immediately preceding Collection Period over (B) the sum of the Class A Principal Parity Amount, the Class B Principal Parity Amount, the Class C Principal Parity Amount
and the Class D Principal Parity Amount for such Distribution Date plus any payments made on the Class A Notes, the Class B Notes, the Class C Notes or the Class D Notes as a Matured Principal Shortfall on such Distribution Date and (II) the
amount of Total Available Funds remaining on deposit in the Collection Account after the funding of the items described in clauses (i) through (xv) of Section 5.7(a) on such Distribution Date. 

“Closing Date” means April 14, 2016. 

“Collateral Insurance” shall have the meaning set forth in Section 4.4(a). 

“Collected Funds” means, with respect to any Collection Period, the amount of funds in the Collection Account representing
collections on the Receivables during such Collection Period, including all Net Liquidation Proceeds collected during such Collection Period (but excluding any Purchase Amounts). 

“Collection Account” means the account designated as such, established and maintained pursuant to Section 5.1(a)(i).

 “Collection Period” means, with respect to the first Distribution Date, the period beginning as of the close of business
on April 6, 2016 and ending as of the close of business on April 30, 2016. With respect to each subsequent Distribution Date, “Collection Period” means the period beginning as of the close of business on the last day of the
second preceding calendar month and ending as of the close of business on the last day of the immediately preceding calendar month. Any amount stated “as of the close of business” shall give effect to the following calculations as
determined as of the end of the day on such day: (i) all applications of collections and (ii) all distributions. 

  
 5 

 “Collection Records” means all manually prepared or computer generated records
relating to collection efforts or payment histories with respect to the Receivables. 
 “Commission” means the United
States Securities and Exchange Commission. 
 “Computer Tape” means the computer tapes or other electronic media furnished
by the Servicer to the Issuer and its assigns describing certain characteristics of the Receivables as of the Cutoff Date. 

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

“Controlling Party” means the Trust Collateral Agent, for the benefit of the Noteholders. 

“Corporate Trust Office” means (i) with respect to the Owner Trustee, the principal corporate trust office of the Owner
Trustee, which at the time of execution of this agreement is Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890-0001, Attention: Corporate Trust Administration and (ii) with respect to the Trustee and the Trust Collateral
Agent, (a) solely with respect to the transfer, surrender, exchange or presentation for final payment of the Notes, 480 Washington Boulevard, 30th Floor, Jersey City, New Jersey 07310, Attention: Citibank Agency & Trust, AmeriCredit
2016-2 and (b) for all other purposes, the principal office thereof at which at any particular time its corporate trust business shall be administered, which at the time of execution of this agreement is 388 Greenwich Street, 14th Floor, New
York, New York 10013 (facsimile number (212) 816-5527), Attention: Citibank Agency & Trust, AmeriCredit 2016-2. 

“Cram Down Loss” means, with respect to a Receivable that has not become a Liquidated Receivable, if the Servicer expects the
Principal Balance or effective rate of interest on the automobile loan contract to be reduced by a court of appropriate jurisdiction in a proceeding related to an Insolvency Event, the Servicer’s estimate of the reduction in the Principal
Balance that will be so ordered by the court. 
 “Custodian” means AmeriCredit and any other Person named from time to time
as custodian hereunder acting as agent for the Trust Collateral Agent, which Person must be acceptable to the Controlling Party (the Custodian as of the Closing Date is acceptable to the Controlling Party). 

“Cutoff Date” means April 6, 2016. 

“DBRS” means DBRS, Inc. or its successor. 

“Dealer” means a dealer who sold a Financed Vehicle and who originated and assigned the respective Receivable to AmeriCredit
or an Originating Affiliate under a Dealer Agreement or pursuant to a Dealer Assignment. 
 “Dealer Agreement” means any
agreement between a Dealer and AmeriCredit or an Originating Affiliate relating to the acquisition of Receivables from a Dealer by AmeriCredit or an Originating Affiliate. 

  
 6 

 “Dealer Assignment” means, with respect to a Receivable, the executed assignment
executed by a Dealer conveying such Receivable to AmeriCredit or an Originating Affiliate. 
 “Delinquency Rate” means, for
any Collection Period, (i) the aggregate Principal Balance of all Delinquent Receivables as of the end of such Collection Period divided by (ii) the Pool Balance as of the beginning of such Collection Period. 

“Delinquency Trigger” means, that (i) as of the end of any of the first through twelfth Collection Periods, the
Delinquency Rate exceeds 5.30%, (ii) as of the end of any of the thirteenth through twenty-fourth Collection Periods, the Delinquency Rate exceeds 6.90%, (iii) as of the end of any of the twenty-fifth through thirty-sixth Collection
Periods, the Delinquency Rate exceeds 7.20%, (iv) as of the end of any of the thirty-seventh through any subsequent Collection Periods, the Delinquency Rate exceeds 7.60%. 

“Delivery” when used with respect to Trust Account Property means: 

(a) with respect to bankers’ acceptances, commercial paper, negotiable certificates of deposit and other obligations that constitute
“instruments” within the meaning of Section 9-102(a)(47) of the UCC and are susceptible of physical delivery, transfer thereof to the Trust Collateral Agent by physical delivery to the Trust Collateral Agent endorsed to, or registered
in the name of, the Trust Collateral Agent or endorsed in blank, and, with respect to a certificated security (as defined in Section 8-102(a)(4) of the UCC), transfer thereof (i) by delivery thereof to the Trust Collateral Agent of such
certificated security endorsed to, or registered in the name of, the Trust Collateral Agent or (ii) by delivery thereof to a “clearing corporation” (as defined in Section 8-102(a)(5) of the UCC) and the making by such clearing
corporation of appropriate entries on its books reducing the appropriate securities account of the transferor and increasing the appropriate securities account of the Trust Collateral Agent by the amount of such certificated security and the
identification by the clearing corporation of the certificated securities for the sole and exclusive account of the Trust Collateral Agent (all of the foregoing, “Physical Property”), and, in any event, any such Physical Property in
registered form shall be in the name of the Trust Collateral Agent or its nominee; and such additional or alternative procedures as may hereafter become appropriate to effect the complete transfer of ownership of any such Trust Account Property to
the Trust Collateral Agent or its nominee or custodian, consistent with changes in applicable law or regulations or the interpretation thereof; 

(b) with respect to any security issued by the U.S. Treasury, the Federal Home Loan Mortgage Corporation or by the Federal National Mortgage
Association that is a book-entry security held through the Federal Reserve System pursuant to federal book-entry regulations, the following procedures, all in accordance with applicable law, including applicable Federal regulations and Articles 8
and 9 of the UCC: book-entry registration of such Trust Account Property to an appropriate book-entry account maintained with a Federal Reserve Bank by a securities intermediary that is also a “depository” pursuant to applicable federal
regulations; the making by such securities intermediary of entries in its books and records crediting such Trust Account Property to the Trust Collateral Agent’s securities account at the securities intermediary and identifying such book-entry
security held through the Federal Reserve System pursuant to federal book-entry regulations as belonging to the Trust Collateral Agent; and such additional or alternative procedures as may hereafter become appropriate to effect complete transfer of
ownership of any such Trust Account Property to the Trust Collateral Agent, consistent with changes in applicable law or regulations or the interpretation thereof; 

  
 7 

 (c) with respect to any item of Trust Account Property that is an uncertificated security under
Article 8 of the UCC and that is not governed by clause (b) above, registration on the books and records of the issuer thereof in the name of the Trust Collateral Agent or its nominee or custodian who either (i) becomes the registered
owner on behalf of the Trust Collateral Agent or (ii) having previously become the registered owner, acknowledges that it holds for the Trust Collateral Agent; and 

(d) with respect to any item of Trust Account Property that is a financial asset under Article 8 of the UCC and that is not governed by clause
(b) above, causing the securities intermediary to indicate on its books and records that such financial asset has been credited to a securities account of the Trust Collateral Agent. 

“Determination Date” means, with respect to any Collection Period, the second Business Day prior to the related Distribution
Date. 
 “Distribution Date” means, with respect to each Collection Period, the eighth day of the following calendar month,
or, if such day is not a Business Day, the immediately following Business Day, commencing May 9, 2016. If AmeriCredit is no longer acting as Servicer, the distribution date may be a different day of the month. 

“Electronic Ledger” means the electronic master record of the retail installment sale contracts or installment loans of the
Servicer. 
 “Eligible Deposit Account” means a segregated trust account with the corporate trust department of a
depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds
deposited in such account, so long as (i) the long-term unsecured debt of such depository institution shall have a credit rating from Standard & Poor’s of at least BBB and from Moody’s in one of its generic rating categories
which signifies investment grade and (ii) such depository institutions’ deposits are insured by the FDIC. 
 “Eligible
Investments” mean book-entry securities, negotiable instruments or securities represented by instruments in bearer or registered form which evidence: 

(a) direct obligations of, and obligations fully guaranteed as to timely payment by, the United States of America; 

(b) demand deposits, time deposits or certificates of deposit of any depository institution or trust company incorporated under the laws of
the United States of America or any state thereof or the District of Columbia (or any domestic branch of a foreign bank) and subject to supervision and examination by federal or state banking or depository institution authorities (including
depository receipts issued by any such institution or trust company as custodian with respect to any obligation referred to in clause (a) above or portion of such obligation for the benefit of the holders of such depository receipts);
provided, however, that at the time of the 

  
 8 

 
investment or contractual commitment to invest therein (which shall be deemed to be made again each time funds are reinvested following each Distribution Date), the commercial paper or other
short-term senior unsecured debt obligations (other than such obligations the rating of which is based on the credit of a Person other than such depository institution or trust company) of such depository institution or trust company shall have a
credit rating from Standard & Poor’s of A-1+, from Moody’s of Prime-1, to the extent rated by DBRS, from DBRS of R-1 (middle) and to the extent rated by Fitch, from Fitch of F1+; 

(c) commercial paper and demand notes investing solely in commercial paper having, at the time of the investment or contractual commitment to
invest therein, a rating from Standard & Poor’s of A-1+, from Moody’s of Prime-1, to the extent rated by DBRS, from DBRS of R-1 (middle) and to the extent rated by Fitch, from Fitch of F1+; 

(d) investments in money market funds (including funds for which the Trust Collateral Agent or the Trustee in each of their individual
capacities or any of their respective Affiliates is investment manager, controlling party or advisor) having a rating from Standard & Poor’s of AAA-m or AAAm-G and from Moody’s of Aaa; 

(e) bankers’ acceptances issued by any depository institution or trust company referred to in clause (b) above; 

(f) repurchase obligations with respect to any security that is a direct obligation of, or fully guaranteed by, the United States of America
or any agency or instrumentality thereof the obligations of which are backed by the full faith and credit of the United States of America, in either case entered into with a depository institution or trust company (acting as principal) referred to
in clause (b) above; 
 (g) any other investment which would satisfy the Rating Agency Condition and is consistent with the ratings of
the Securities or any other investment that by its terms converts to cash within a finite period, if the Rating Agency Condition is satisfied with respect thereto; and 

(h) cash denominated in United States dollars. 

Any of the foregoing Eligible Investments may be purchased by or through the Trust Collateral Agent, the Trustee or any of their respective
Affiliates. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“FDIC” means the Federal Deposit Insurance Corporation. 

“Final Scheduled Distribution Date” means with respect to (i) the Class A-1 Notes, the April 10, 2017
Distribution Date, (ii) the Class A-2-A Notes, the October 8, 2019 Distribution Date, (iii) the Class A-2-B Notes, the October 8, 2019 Distribution Date, (iv) the Class A-3 Notes, the November 9, 2020
Distribution Date, (v) the Class B Notes, the May 10, 2021 Distribution Date, (vi) the Class C Notes, the November 8, 2021 Distribution Date, (vii) the Class D Notes, the May 9, 2022 Distribution Date and
(viii) the Class E Notes, the January 8, 2024 Distribution Date. 

  
 9 

 “Financed Vehicle” means an automobile or light-duty truck van or minivan,
together with all accessions thereto, securing an Obligor’s indebtedness under the respective Receivable. 
 “Fitch”
means Fitch Ratings, Inc. or its successor. 
 “Force-Placed Insurance” shall have the meaning set forth in
Section 4.4. 
 “General Motors Financial Company, Inc.” means General Motors Financial Company, Inc. (f/k/a
AmeriCredit Corp.). 
 “Indenture” means the Indenture, dated as of April 6, 2016, between the Issuer and Citibank,
N.A., as Trust Collateral Agent and Trustee, as the same may be amended and supplemented from time to time. 
 “Independent
Accountants” shall have the meaning set forth in Section 4.11(a). 
 “Insolvency Event” means, with respect
to a specified Person, (a) the filing of a petition against such Person or the entry of a decree or order for relief by a court having jurisdiction in the premises in respect of such Person or any substantial part of its property in an
involuntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator, or similar official for such Person or
for any substantial part of its property, or ordering the winding-up or liquidation of such Person’s affairs, and such petition, decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or (b) the
commencement by such Person of a voluntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by such Person to the entry of an order for relief in an involuntary case
under any such law, or the consent by such Person to the appointment of or taking possession by, a receiver, liquidator, assignee, custodian, trustee, sequestrator, or similar official for such Person or for any substantial part of its property, or
the making by such Person of any general assignment for the benefit of creditors, or the failure by such Person generally to pay its debts as such debts become due, or the taking of action by such Person in furtherance of any of the foregoing. 

“Insurance Add-On Amount” means the premium charged to the Obligor in the event that the Servicer obtains Force-Placed
Insurance pursuant to Section 4.4. 
 “Insurance Policy” means, with respect to a Receivable, any insurance policy
(including the insurance policies described in Section 4.4) benefiting the holder of the Receivable providing loss or physical damage, credit life, credit disability, theft, mechanical breakdown or similar coverage with respect to the Financed
Vehicle or the Obligor. 
 “Interest Period” means, with respect to any Distribution Date, the period from and including
the most recent Distribution Date on which interest has been paid (or in the case of the first Distribution Date, from and including the Closing Date) to, but excluding, the following Distribution Date. 

“Interest Rate” means, with respect to (i) the Class A-1 Notes, 0.75000% per annum (computed on the basis of a
360-day year and the actual number of days elapsed in the applicable 

  
 10 

 
Interest Period), (ii) the Class A-2-A Notes, 1.42% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months), (iii) the Class A-2-B Notes,
LIBOR plus 0.70% per annum (computed on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period), (iv) the Class A-3 Notes, 1.60% per annum (computed on the basis of a 360-day year
consisting of twelve 30-day months), (v) the Class B Notes, 2.21% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months), (vi) the Class C Notes, 2.87% per annum (computed on the basis of a 360-day
year consisting of twelve 30-day months), (vii) the Class D Notes, 3.65% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months) and (viii) the Class E Notes, 0.00% per annum (computed on the basis of a
360-day year consisting of twelve 30-day months). 
 “Investment Company Act” means the Investment Company Act of 1940, as
amended. 
 “Investment Earnings” means, with respect to any date of determination and Trust Accounts, the investment
earnings on amounts on deposit in such Trust Accounts on such date. 
 “Issuer” means AmeriCredit Automobile Receivables
Trust 2016-2. 
 “Issuer Secured Parties” means the Trustee in respect of the Trustee Issuer Secured Obligations. 

“Item 1122 Letter Agreement” means the Item 1122 Letter Agreement, dated as of April 6, 2016, between the Servicer
and Citibank, N.A., as the same may be amended and supplemented from time to time. 
 “LIBOR” shall have the meaning set
forth in Section 5.10. 
 “LIBOR Determination Date” shall have the meaning set forth in Section 5.10. 

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

“Lien Certificate” means, with respect to a Financed Vehicle, an original certificate of title, certificate of lien or other
notification issued by the Registrar of Titles of the applicable state to a secured party which indicates that the lien of the secured party on the Financed Vehicle is recorded on the original certificate of title. In any jurisdiction in which the
original certificate of title is required to be given to the Obligor, the term “Lien Certificate” shall mean only a certificate or notification issued to a secured party. For Financed Vehicles registered in states which issue confirmation
of the lienholder’s interest electronically, the “Lien Certificate” may consist of notification of an electronic recordation, by either a third-party service provider or the relevant Registrar of Titles of the applicable state, which
indicates that the lien of the secured party on the Financed Vehicle is recorded on the original certificate of title on the electronic lien and title system of the applicable state. 

“Liquidated Receivable” means, with respect to any Collection Period, a Receivable for which, as of the last day of the
Collection Period (i) 90 days have elapsed since the Servicer repossessed the Financed Vehicle; provided, however, that in no case shall 10% or more of a 

  
 11 

 
Scheduled Receivables Payment have become 210 or more days delinquent in the case of a repossessed Financed Vehicle, (ii) the Servicer has determined in good faith that all amounts it
expects to recover have been received, (iii) 10% or more of a Scheduled Receivables Payment shall have become 120 or more days delinquent, except in the case of a repossessed Financed Vehicle, or (iv) that is, without duplication, a Sold
Receivable. 
 “Liquidation Proceeds” means, with respect to a Liquidated Receivable, all amounts realized with respect to
such Receivable and, with respect to a Sold Receivable, the related Sale Amount. 
 “Lockbox Account” means an account
maintained on behalf of the Trust Collateral Agent by the Lockbox Bank pursuant to Section 4.2(d). 
 “Lockbox Account
Agreement” means the Lockbox Account Agreement, dated as of April 6, 2016, among AmeriCredit, JPMorgan Chase Bank, N.A. and the Trust Collateral Agent, as such agreement may be amended or supplemented from time to time, unless the
Trust Collateral Agent shall cease to be a party thereunder, or such agreement shall be terminated in accordance with its terms, in which event “Lockbox Account Agreement” shall mean any replacement agreement therefor among the Servicer,
the Trust Collateral Agent and the Lockbox Bank. 
 “Lockbox Agreements” means collectively, the Lockbox Account Agreement
and the Lockbox Processing Agreement. 
 “Lockbox Bank” means a depository institution named by the Servicer and acceptable
to the Controlling Party. 
 “Lockbox Processing Agreement” means the Lockbox Processing Agreement, dated as of
April 6, 2016, among the Lockbox Processor, the Servicer and the Trust Collateral Agent, as such agreement may be amended or supplemented from time to time. 

“Lockbox Processor” means Regulus Group II LLC, or its successors or assigns. 

“London Business Day” shall have the meaning set forth in Section 5.10. 

“Majority Noteholders” means the Holders of the Notes representing a majority of the principal balance of the most senior
Class of Notes then outstanding. 
 “Matured Principal Shortfall” means, with respect to any Distribution Date and for any
Class of Notes which would have a remaining principal balance greater than zero on such Distribution Date, after taking into account the payment of all other principal amounts to such Class on such Distribution Date and as to which such Distribution
Date is either the Final Scheduled Distribution Date for such Class, or a Distribution Date subsequent to such Final Scheduled Distribution Date, the remaining principal balance of such Class on such Distribution Date after taking into account the
payment of all other principal amounts to such Class on such Distribution Date. 

  
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 “Minimum Sale Price” means (i) with respect to a Receivable (x) that
has become 60 to 210 days delinquent or (y) that has become greater than 210 days delinquent and with respect to which the related Financed Vehicle has been repossessed by the Servicer and has not yet been sold at auction, the greater of
(A) 55% multiplied by the Principal Balance of such Receivable and (B) the product of the three month rolling average recovery rate (expressed as a percentage) for the Servicer in its liquidation of all receivables for which it acts as
servicer, either pursuant to this Agreement or otherwise, multiplied by the Principal Balance of such Receivable or (ii) with respect to a Receivable (x) with respect to which the related Financed Vehicle has been repossessed by the
Servicer and has been sold at auction and the Net Liquidation Proceeds for which have been deposited in the Collection Account, or (y) that has become greater than 210 days delinquent and with respect to which the related Financed Vehicle has
not been repossessed by the Servicer despite the Servicer’s diligent efforts, consistent with its servicing obligations, to repossess the Financed Vehicle, $1. 

“Monthly Records” means all records and data maintained by the Servicer with respect to the Receivables, including the
following with respect to each Receivable: the account number; the originating Dealer; Obligor name; Obligor address; Obligor home phone number; Obligor business phone number; original Principal Balance; original term; Annual Percentage Rate;
current Principal Balance; current remaining term; origination date; first payment date; final scheduled payment date; next payment due date; date of most recent payment; new/used classification; collateral description; days currently delinquent;
number of contract extensions (months) to date; amount of Scheduled Receivables Payment; and past due late charges. 

“Moody’s” means Moody’s Investors Service, Inc. or its successor. 

“Net Liquidation Proceeds” means, with respect to a Liquidated Receivable, Liquidation Proceeds net of (i) reasonable
expenses incurred by the Servicer in connection with the collection of such Receivable and the repossession and disposition of the Financed Vehicle and (ii) amounts that are required to be refunded to the Obligor on such Receivable;
provided, however, that the Net Liquidation Proceeds with respect to any Receivable shall in no event be less than zero. 

“Note Distribution Account” means the account designated as such, established and maintained pursuant to
Section 5.1(a)(ii). 
 “Note Pool Factor” for each Class of Notes as of the close of business on any date of
determination means a seven-digit decimal figure equal to the outstanding principal amount of such Class of Notes divided by the original outstanding principal amount of such Class of Notes. 

“Noteholders’ Distributable Amount” means, with respect to any Distribution Date, the sum of the Noteholders’
Principal Distributable Amount and the Noteholders’ Interest Distributable Amount. 
 “Noteholders’ Interest Carryover
Amount” means, with respect to any Class of Notes and any date of determination, all or any portion of the Noteholders’ Interest Distributable Amount for such Class of Notes for the immediately preceding Distribution Date which remains
unpaid as of such date of determination, plus interest on such unpaid amount, to the extent permitted by law, at the respective Interest Rate borne by the applicable Class of Notes from such immediately preceding Distribution Date to but excluding
such date of determination. 

  
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 “Noteholders’ Interest Distributable Amount” means, with respect to any
Distribution Date and Class of Notes, the sum of the Noteholders’ Monthly Interest Distributable Amount for such Distribution Date and each Class of Notes and the Noteholders’ Interest Carryover Amount, if any for such Distribution Date
and each such Class. Interest on the Class A-1 Notes and the Class A-2-B Notes shall be computed on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period; interest on all other Classes of Notes
shall be computed on the basis of a 360-day year consisting of twelve 30-day months. 
 “Noteholders’ Monthly Interest
Distributable Amount” means, with respect to any Distribution Date and any Class of Notes, interest accrued at the respective Interest Rate during the applicable Interest Period on the principal amount of the Notes of such Class outstanding
as of the end of the prior Distribution Date (or, in the case of the first Distribution Date, as of the Closing Date), calculated (x) for the Class A-1 Notes and the Class A-2-B Notes on the basis of a 360-day year and the actual
number of days elapsed in the applicable Interest Period and (y) for all other Classes of Notes on the basis of a 360-day year consisting of twelve 30-day months (without adjustment for the actual number of business days elapsed in the
applicable Interest Period), except with respect to the first Interest Period. 
 “Noteholders’ Principal Carryover
Amount” means, as of any date of determination, all or any portion of the Noteholders’ Principal Distributable Amount from the preceding Distribution Date which remains unpaid as of such date of determination. 

“Noteholders’ Principal Distributable Amount” means, with respect to any Distribution Date, (other than the Final
Scheduled Distribution Date for any Class of Notes), the sum of the Principal Distributable Amount for such Distribution Date and the Noteholders’ Principal Carryover Amount, if any, as of the close of business on the preceding Distribution
Date. The Noteholders’ Principal Distributable Amount on the Final Scheduled Distribution Date for any Class of Notes will equal the sum of (i) the Principal Distributable Amount for such Distribution Date, (ii) the Noteholders’
Principal Carryover Amount as of such Distribution Date, and (iii) the excess of the outstanding principal amount of such Class of Notes, if any, over the amounts described in clauses (i) and (ii). 

“Obligor” on a Receivable means the purchaser or co-purchasers of the Financed Vehicle and any other Person who owes payments
under the Receivable. 
 “Officers’ Certificate” means a certificate signed by the chief executive officer, the
president, any executive vice president, any senior vice president, any vice president, any assistant vice president, any treasurer, any assistant treasurer, any secretary or any assistant secretary of the Seller or the Servicer, as appropriate.

 “Opinion of Counsel” means a written opinion of counsel satisfactory in form and substance to the recipient(s) thereof.

 “Original Pool Balance” means the Pool Balance as of the Cutoff Date. 

  
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 “Originating Affiliate” means an Affiliate of AmeriCredit that has originated
Receivables and assigned its full interest therein to AmeriCredit. 
 “Other Conveyed Property” means all property conveyed
by the Seller to the Trust pursuant to Section 2.1(b) through (i). 
 “Owner Trust Estate” has the meaning assigned to
such term in the Trust Agreement. 
 “Owner Trustee” means Wilmington Trust Company, not in its individual capacity but
solely as Owner Trustee under the Trust Agreement, its successors in interest or any successor Owner Trustee under the Trust Agreement. 

“Person” means any individual, corporation, estate, partnership, joint venture, association, joint stock company, trust
(including any beneficiary thereof), unincorporated organization or government or any agency or political subdivision thereof. 

“Physical Property” has the meaning assigned to such term in the definition of “Delivery” above. 

“Pool Balance” means, as of any date of determination, the aggregate Principal Balance of the Receivables (excluding
Purchased Receivables and Liquidated Receivables) at the end of the preceding calendar month. 
 “Principal Balance” means,
with respect to any Receivable, as of any date, the sum of (x) the Amount Financed minus (i) that portion of all amounts received on or prior to such date and allocable to principal in accordance with the terms of the Receivable and
(ii) any Cram Down Loss in respect of such Receivable plus (y) the accrued and unpaid interest on such Receivable. 

“Principal Distributable Amount” means, with respect to any Distribution Date, the amount equal to the excess, if any, of
(x) the sum of (i) the principal portion of all Collected Funds received during the immediately preceding Collection Period (other than Liquidated Receivables and Purchased Receivables), (ii) the Principal Balance of all Receivables
that became Liquidated Receivables during the related Collection Period (other than Purchased Receivables), (iii) the principal portion of the Purchase Amounts received with respect to all Receivables that became Purchased Receivables during
the related Collection Period, (iv) the aggregate amount of Cram Down Losses that shall have occurred during the related Collection Period, and (v) following the acceleration of the Notes pursuant to Section 5.2 of the Indenture, the
amount of money or property collected pursuant to Section 5.4 of the Indenture since the preceding Determination Date by the Trust Collateral Agent for distribution pursuant to Section 5.7 over (y) the Step-Down Amount, if any, for
such Distribution Date. 
 “Pro Forma Note Balance” means, with respect to any Distribution Date, the aggregate remaining
principal amount of the Notes outstanding on such Distribution Date, after giving effect to distributions pursuant to clauses (i) through (xviii) of Section 5.7(a) hereof. 

“Prospectus” means the prospectus, dated as of April 5, 2016, relating to the offering of the Class A Notes, the
Class B Notes, the Class C Notes and the Class D Notes, as filed with the Commission. 

  
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 “Purchase Agreement” means the Purchase Agreement between the Seller and
AmeriCredit, dated as of April 6, 2016, pursuant to which the Seller acquires the Receivables, as such agreement may be amended from time to time. 

“Purchase Amount” means, with respect to a Purchased Receivable, the Principal Balance and all accrued and unpaid interest on
the Receivable, after giving effect to the receipt of any moneys collected (from whatever source) on such Receivable, if any. 

“Purchased Receivable” means a Receivable purchased as of the close of business on the last day of a Collection Period by the
Servicer pursuant to Sections 4.2, 4.4(c) or 4.7 or repurchased by the Seller or the Servicer pursuant to Section 3.2 or Section 10.1(a). 

“Rating Agency” means Standard and Poor’s and Moody’s. If no such organization or successor maintains a rating on
the Securities, “Rating Agency” shall be a nationally recognized statistical rating organization or other comparable Person engaged by the Seller, notice of which engagement shall be given to the Trust Collateral Agent, the Owner Trustee
and the Servicer. 
 “Rating Agency Condition” means, with respect to any action, that each of Standard &
Poor’s and Moody’s shall have been given 10 days’ (or such shorter period as shall be acceptable to each Rating Agency) prior notice thereof by AmeriCredit and that (a) with regards to Standard & Poor’s, such Rating
Agency has notified the Seller, the Servicer, the Owner Trustee and the Trust Collateral Agent (or the Trustee, as applicable) in writing that such action will not result in a reduction or withdrawal of the then current rating of any Class of Notes,
and (b) with regards to Moody’s, such Rating Agency has not notified the Seller, the Servicer, the Owner Trustee and the Trust Collateral Agent (or the Trustee, as applicable) in writing that such action will result in a reduction or
withdrawal of the then current rating of any Class of Notes. 
 “Realized Losses” means, with respect to any Receivable
that becomes a Liquidated Receivable, the excess of the Principal Balance of such Liquidated Receivable over Net Liquidation Proceeds to the extent allocable to principal. 

“Receivables” means the Contracts listed on Schedule A attached hereto (which Schedule may be in an electronic format). 

“Receivable Files” means the documents specified in Section 3.3. 

“Record Date” means, with respect to a Distribution Date or Redemption Date, the close of business on the Business Day
immediately preceding such Distribution Date or Redemption Date, unless otherwise specified in the Indenture. 
 “Registrar of
Titles” means, with respect to any state, the governmental agency or body responsible for the registration of, and the issuance of certificates of title relating to, motor vehicles and liens thereon. 

“Regulation AB” means Subpart 229.1100- Asset Backed Securities (Regulation AB), 17 C.F.R. §§229.1100-229.1125, as
such may be amended from time to time and subject to such clarification and interpretation as have been provided by the Commission in the adopting releases (Asset-Backed Securities, Securities Act Release No. 33-8518.70 Fed. Reg. 1,506,1,531

  
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(January 7, 2005) and Asset-Backed Securities Disclosure and Registration, Securities Act Release No. 33-9638, 79 Fed. Reg. 57,184 (September 24, 2014)) or by the staff of the Commission, or
as may be provided by the Commission or its staff from time to time. 
 “Requesting Party” shall have the meaning set forth
in Section 3.13(a). 
 “Required Pro Forma Note Balance” means, with respect to any Distribution Date, a dollar amount
equal to (x) the Pool Balance as of the end of the prior calendar month minus (y) the excess of (i) 14.75% of the Pool Balance as of the end of the prior calendar month over (ii) the Specified Reserve Balance. 

“Reserve Account” means the account designated as such, established and maintained pursuant to Section 5.1(a)(iii). 

“Reserve Account Deposit Amount” means, with respect to any Distribution Date, the lesser of (x) the excess of
(i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the
amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a). 

“Reserve Account Withdrawal Amount” means, with respect to any Distribution Date, the lesser of (x) any shortfall in the
amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and
ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on
deposit therein pursuant to Section 5.8. 
 “Responsible Officer” means, with respect to any Person, any Executive
Vice President, Senior Vice President, Vice President, Assistant Vice President, Treasurer, Assistant Treasurer, Secretary, Assistant Secretary, or any other officer of such Person customarily performing functions similar to those performed by any
of the above designated officers and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 

“Reuters Screen LIBOR01 Page” shall have the meaning set forth in Section 5.10. 

“Sale Amount” means, with respect to any Sold Receivable, the amount received from the related
third-party purchaser as payment for such Sold Receivable. 
 “Sale and Servicing Agreement
Collateral” shall have the meaning set forth in Section 2.4. 
 “Schedule of Receivables” means the schedule
of all motor vehicle retail installment sale contracts and promissory notes originally held as part of the Trust which is attached as Schedule A (which Schedule may be in the form of microfiche or a disk). 

  
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 “Scheduled Receivables Payment” means, with respect to any Collection Period for
any Receivable, the amount set forth in such Receivable as required to be paid by the Obligor in such Collection Period. If after the Closing Date, the Obligor’s obligation under a Receivable with respect to a Collection Period has been
modified so as to differ from the amount specified in such Receivable as a result of (i) the order of a court in an insolvency proceeding involving the Obligor, (ii) pursuant to the Servicemembers Civil Relief Act or
(iii) modifications or extensions of the Receivable permitted by Section 4.2(b), the Scheduled Receivables Payment with respect to such Collection Period shall refer to the Obligor’s payment obligation with respect to such Collection
Period as so modified. 
 “Seller” means AFS SenSub Corp., a Nevada corporation, and its successors in interest to the
extent permitted hereunder. 
 “Service Contract” means, with respect to a Financed Vehicle, the agreement, if any,
financed under the related Receivable that provides for the repair of such Financed Vehicle. 
 “Servicer” means
AmeriCredit Financial Services, Inc., as the servicer of the Receivables, and each successor servicer pursuant to Section 9.3. 

“Servicer Termination Event” means an event specified in Section 9.1. 

“Servicer’s Certificate” means an Officers’ Certificate of the Servicer delivered pursuant to Section 4.9,
substantially in the form of Exhibit A. 
 “Servicing Fee” shall have the meaning set forth in Section 4.8. 

“Servicing Fee Rate” means 2.25% per annum. 

“Simple Interest Method” means the method of allocating a fixed level payment on an obligation between principal and
interest, pursuant to which the portion of such payment that is allocated to interest is equal to the product of the fixed rate of interest on such obligation multiplied by the period of time (expressed as a fraction of a year, based on the actual
number of days in the calendar month and 365 days in the calendar year) elapsed since the preceding payment under the obligation was made. 

“Sold Receivable” means a Receivable that was more than 60 days delinquent and was sold to an unaffiliated third party by the
Issuer, at the Servicer’s direction, as of the close of business on the last day of a Collection Period and in accordance with the provisions of Section 4.3(c). 

“Specified Reserve Balance” means, with respect to any Distribution Date, an amount equal to 2.0% of the initial Pool
Balance; provided, that the Specified Reserve Balance will in no event exceed the outstanding principal amount of the Notes on such Distribution Date after giving effect to distributions pursuant to clauses (i) through (xviii) of
Section 5.7(a). 
 “Standard & Poor’s” means Standard & Poor’s Ratings Services, Inc., a
Standard & Poor’s Financial Services, LLC business, or its successor. 

  
 18 

 “Step-Down Amount” means, with respect to any Distribution Date, the excess, if
any, of (x) the Required Pro Forma Note Balance over (y) the Pro Forma Note Balance on such Distribution Date, calculated for this purpose only without deduction for any Step-Down Amount (i.e., assuming that the entire amount
described in clause (x) of the definition of “Principal Distributable Amount” is distributed as principal on the Notes); provided, however, that the Step-Down Amount in no event may exceed the amount that would reduce
the positive difference, if any, of the Pool Balance minus the Pro Forma Note Balance, to an amount less than 0.50% of the initial aggregate principal balance of the Receivables. 

“Supplemental Servicing Fee” means, with respect to any Collection Period, all administrative fees, expenses and charges paid
by or on behalf of Obligors, including late fees, prepayment fees and liquidation fees collected on the Receivables during such Collection Period but excluding any fees or expenses related to extensions. 

“Total Available Funds” shall have the meaning set forth in Section 5.7(a). 

“Trust” means the Issuer. 

“Trust Account Property” means the Trust Accounts, all amounts and investments held from time to time in any Trust Account
(whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing. 

“Trust Accounts” shall have the meaning set forth in Section 5.1. 

“Trust Agreement” means the Trust Agreement, dated as of March 8, 2016, between the Seller and the Owner Trustee, as
amended and restated as of April 6, 2016 as the same may be amended and supplemented from time to time. 
 “Trust Collateral
Agent” means the Person acting as Trust Collateral Agent hereunder, its successors in interest and any successor Trust Collateral Agent hereunder. 

“Trust Property” means the property and proceeds conveyed pursuant to Section 2.1, together with certain monies paid
after the Cutoff Date, the Collection Account (including all Eligible Investments therein and all proceeds therefrom), the Lockbox Account, the Reserve Account (including all Eligible Investments therein and all proceeds therefrom), the Note
Distribution Account (including all Eligible Investments therein and all proceeds therefrom) and certain other rights under this Agreement. 

“Trustee” means the Person acting as Trustee under the Indenture, its successors in interest and any successor trustee under
the Indenture. 
 “UCC” means the Uniform Commercial Code as in effect in the relevant jurisdiction on the date of the
Agreement. 
 “Underwriting Agreement” means the Underwriting Agreement, dated as of April 5, 2016, among the Seller,
the Servicer, RBC Capital Markets, LLC, Barclays Capital Inc., Goldman, Sachs & Co. and Wells Fargo Securities, LLC, as representatives of the underwriters named therein. 

  
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 SECTION 1.2. Other Definitional Provisions. 

(a) Capitalized terms used herein and not otherwise defined herein have meanings assigned to them in the Indenture, or, if not defined
therein, in the Trust Agreement. 
 (b) All terms defined in this Agreement shall have the defined meanings when used in any instrument
governed hereby and in any certificate or other document made or delivered pursuant hereto unless otherwise defined therein. 
 (c) As used
in this Agreement, in any instrument governed hereby and in any certificate or other document made or delivered pursuant hereto or thereto, accounting terms not defined in this Agreement or in any such instrument, certificate or other document, and
accounting terms partly defined in this Agreement or in any such instrument, certificate or other document to the extent not defined, shall have the respective meanings given to them under generally accepted accounting principles as in effect on the
date of this Agreement or any such instrument, certificate or other document, as applicable. To the extent that the definitions of accounting terms in this Agreement or in any such instrument, certificate or other document are inconsistent with the
meanings of such terms under generally accepted accounting principles, the definitions contained in this Agreement or in any such instrument, certificate or other document shall control. 

(d) The words “hereof,” “herein,” “hereunder” and words of similar import when used in this Agreement shall
refer to this Agreement as a whole and not to any particular provision of this Agreement; Section, Schedule and Exhibit references contained in this Agreement are references to Sections, Schedules and Exhibits in or to this Agreement unless
otherwise specified; and the term “including” shall mean “including without limitation.” 
 (e) The definitions
contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such terms. 

(f) Any agreement, instrument or statute defined or referred to herein or in any instrument or certificate delivered in connection herewith
means such agreement, instrument or statute as from time to time amended, modified or supplemented and includes (in the case of agreements or instruments) references to all attachments thereto and instruments incorporated therein; references to a
Person are also to its permitted successors and assigns. 
 ARTICLE II 

Conveyance of Receivables 

SECTION 2.1. Conveyance of Receivables. In consideration of the Issuer’s delivery to or upon the order of the Seller on the
Closing Date of the net proceeds from the sale of the Notes and the other amounts to be distributed from time to time to the Seller in accordance with the terms of this Agreement, the Seller does hereby sell, transfer, assign, set over and otherwise

  
 20 

 
convey to the Issuer, without recourse (subject to the Seller’s obligations set forth herein) and the Issuer hereby purchases, all right, title and interest of the Seller in and to the
following property, whether now owned or existing or hereafter acquired or arising: 
 (a) the Receivables and all moneys received thereon
after the Cutoff Date; 
 (b) the security interests in the Financed Vehicles granted by Obligors pursuant to the Receivables and any other
interest of the Seller in such Financed Vehicles; 
 (c) any proceeds and the right to receive proceeds with respect to the Receivables from
claims on any physical damage, credit life or disability insurance policies covering Financed Vehicles or Obligors and any proceeds from the liquidation of the Receivables; 

(d) any proceeds received from a Dealer pursuant to a Dealer Agreement as a result of a breach of representation or warranty in the related
Dealer Agreement; 
 (e) all rights under any Service Contracts on the related Financed Vehicles; 

(f) the related Receivable Files; 

(g) all of the Seller’s right, title and interest in its rights and benefits, but none of its obligations or burdens, under the Purchase
Agreement, and the delivery requirements, representations and warranties and the cure and repurchase obligations of AmeriCredit under the Purchase Agreement; 

(h) all of the Seller’s (i) Accounts, (ii) Chattel Paper, (iii) Documents, (iv) Instruments and (v) General
Intangibles (as such terms are defined in the UCC) relating to the property described in (a) through (g); and 
 (i) all proceeds and
investments with respect to items (a) through (h). 
 SECTION 2.2. [Reserved] 

SECTION 2.3. Further Encumbrance of Trust Property. 

(a) Immediately upon the conveyance to the Trust by the Seller of any item of the Trust Property pursuant to Section 2.1, all right,
title and interest of the Seller in and to such item of Trust Property shall terminate, and all such right, title and interest shall vest in the Trust, in accordance with the Trust Agreement and Sections 3802 and 3805 of the Statutory Trust Statute
(as defined in the Trust Agreement). 
 (b) Immediately upon the vesting of the Trust Property in the Trust, the Trust shall have the sole
right to pledge or otherwise encumber, such Trust Property. Pursuant to the Indenture, the Trust shall grant a security interest in the Trust Property to the Trust Collateral Agent securing the repayment of the Notes. The Certificate shall represent
the beneficial ownership interest in the Trust Property, and the Certificateholder shall be entitled to receive distributions with respect thereto as set forth herein. 

  
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 (c) Following the payment in full of the Notes and the release and discharge of the Indenture,
all covenants of the Issuer under Article III of the Indenture shall, until payment in full of the Certificate, remain as covenants of the Issuer for the benefit of the Certificateholder, enforceable by the Certificateholder to the same extent as
such covenants were enforceable by the Noteholders prior to the discharge of the Indenture. Any rights of the Trustee under Article III of the Indenture, following the discharge of the Indenture, shall vest in the Certificateholder. 

(d) The Trust Collateral Agent shall, at such time as there are no Notes or Certificate outstanding and all sums due to the Trustee and Trust
Collateral Agent pursuant to the Basic Documents have been paid, execute such documents as are reasonably provided to it by the Seller (which documents shall be prepared at the Seller’s expense) in order to release any remaining portion of the
Trust Property to the Seller. 
 SECTION 2.4. Intention of the Parties. 

The execution and delivery of this Agreement shall constitute an acknowledgment by the Seller and the Issuer that they intend that the
assignment and transfer herein contemplated constitute a sale and assignment outright, and not for security, of the Receivables and Other Conveyed Property, for non-tax purposes, conveying good title thereto free and clear of any Liens, from the
Seller to the Issuer, and that the Receivables and the Other Conveyed Property shall not be a part of the Seller’s estate in the event of a bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other proceeding under
any federal or state bankruptcy or similar law, or the occurrence of another similar event, of, or with respect to the Seller. In the event that such conveyance is determined to be made as security for a loan made by the Issuer, the Noteholders or
the Certificateholder to the Seller, the Seller hereby grants to the Issuer a security interest in all of the Seller’s right, title and interest in and to the following property for the benefit of the Issuer Secured Parties, whether now owned
or existing or hereafter acquired or arising, and this Agreement shall constitute a security agreement under applicable law (collectively, the “Sale and Servicing Agreement Collateral”): 

(a) the Receivables and all moneys received thereon after the Cutoff Date; 

(b) the security interests in the Financed Vehicles granted by Obligors pursuant to the Receivables and any other interest of the Seller in
such Financed Vehicles; 
 (c) any proceeds and the right to receive proceeds with respect to the Receivables from claims on any physical
damage, credit life or disability insurance policies covering Financed Vehicles or Obligors and any proceeds from the liquidation of the Receivables; 

(d) any proceeds from any Receivable repurchased by a Dealer pursuant to a Dealer Agreement as a result of a breach of representation or
warranty in the related Dealer Agreement; 
 (e) all rights under any Service Contracts on the related Financed Vehicles; 

(f) the related Receivable Files; 

(g) all of the Seller’s right, title and interest in its rights and benefits, but none of its obligations or burdens, under the Purchase
Agreement, and the delivery requirements, representations and warranties and the cure and repurchase obligations of AmeriCredit under the Purchase Agreement; 

  
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 (h) all of the Seller’s (i) Accounts, (ii) Chattel Paper, (iii) Documents,
(iv) Instruments and (v) General Intangibles (as such terms are defined in the UCC) relating to the property described in (a) through (g); and 

(i) all proceeds and investments with respect to items (a) through (h). 

ARTICLE III 
 The Receivables

 SECTION 3.1. Representations and Warranties of Seller. 

(a) The Seller hereby represents and warrants that each of the representations and warranties regarding the Receivables that are set forth in
Schedule B-1 is true and correct and that the Issuer is deemed to have relied on such representations and warranties in acquiring the Receivables. Such representations and warranties speak as of the execution and delivery of this Agreement and as of
the Closing Date, but shall survive the sale, transfer and assignment of the Receivables to the Issuer and the pledge thereof to the Trust Collateral Agent pursuant to the Indenture and shall not be waived. 

(b) The Seller hereby represents and warrants that each of the representations and warranties regarding the pool of Receivables that are set
forth in Schedule B-2 is true and correct and that the Issuer is deemed to have relied on such representations and warranties in acquiring the Receivables. Such representations and warranties speak as of the execution and delivery of this Agreement
and as of the Closing Date, but shall survive the sale, transfer and assignment of the Receivables to the Issuer and the pledge thereof to the Trust Collateral Agent pursuant to the Indenture and shall not be waived. 

(c) The Seller hereby represents and warrants that each of the following representations and warranties is true and correct and that the
Issuer is deemed to have relied on such representations and warranties in acquiring the Receivables. Such representations and warranties speak as of the execution and delivery of this Agreement and as of the Closing Date, but shall survive the sale,
transfer and assignment of the Receivables to the Issuer and the pledge thereof to the Trust Collateral Agent pursuant to the Indenture and shall not be waived: 

(i) to the best of the Seller’s knowledge, each Receivable (a) that was originated by AmeriCredit was sold by
AmeriCredit to the Seller without any fraud or misrepresentation on the part of AmeriCredit and (b) that was originated by a Dealer was sold by the Dealer to AmeriCredit and by AmeriCredit to the Seller without any fraud or misrepresentation on
the part of such Dealer or AmeriCredit, respectively; 
 (ii) no Receivable was originated in, or is subject to the laws of,
any jurisdiction the laws of which would make unlawful, void or voidable the sale, transfer and assignment of such Receivable under this Agreement or pursuant to transfers of the Notes; 

  
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 (iii) the Seller has not done anything to convey any right to any Person that
would result in such Person having a right to payments due under the Receivables or otherwise to impair the rights of the Trust, the Trustee, the Trust Collateral Agent and the Noteholders in any Receivable or the proceeds thereof. Other than the
security interest granted to the Trust pursuant to this Agreement and except any other security interests that have been fully released and discharged as of the Closing Date, the Seller has not pledged, assigned, sold, granted a security interest
in, or otherwise conveyed any of the Receivables. The Seller has not authorized the filing of and is not aware of any financing statements against the Seller that include a description of collateral covering the Receivables other than any financing
statement relating to the security interest granted to the Trust hereunder or that has been terminated. The Seller is not aware of any judgment, ERISA or tax lien filings against it; and 

(iv) no funds have been advanced by the Seller or anyone acting on behalf of AmeriCredit in order to cause any Receivable to
qualify under the representation and warranty set forth as clause 19(E) of Schedule B-1. 
 SECTION 3.2. Repurchase upon Breach. 

(a) The Seller, the Servicer, the Trust Collateral Agent, the Trustee, the Trust or the Owner Trustee, as the case may be, shall inform, and
any Noteholder may inform, the other parties to this Agreement (or, in the case of notice provided by the Trustee or a Noteholder, all parties of this Agreement) promptly, by notice in writing, upon the discovery of any breach of the Seller’s
representations and warranties made pursuant to Section 3.1(a). If Noteholders representing five percent or more of the Outstanding Amount of the most senior class of Notes then outstanding inform the Trust Collateral Agent, by notice in
writing, of any breach of the Seller’s representations and warranties made pursuant to Section 3.1(a), the Trust Collateral Agent shall inform the other parties to this Agreement in the manner specified in the preceding sentence on behalf
of such Noteholders. Any such notice delivered by the Servicer, the Trust Collateral Agent, the Trust, the Trustee, any Noteholder or the Owner Trustee, as the case may be, shall constitute a request by such party that the Seller repurchase the
affected Receivable. As of the last day of the second (or, if the Seller so elects, the first) month following the discovery by the Seller or receipt by the Seller of notice of such breach, unless such breach is cured by such date, the Seller shall
have an obligation to repurchase any Receivable in which the interests of the Noteholders are materially and adversely affected by any such breach as of such date. The “second month” shall mean the month following the month in which
discovery occurs or notice is given, and the “first month” shall mean the month in which discovery occurs or notice is given. In consideration of and simultaneously with the repurchase of the Receivable, the Seller shall remit, or cause
AmeriCredit to remit, to the Collection Account the Purchase Amount in the manner specified in Section 5.6(a) and the Issuer shall execute such assignments and other documents reasonably requested by such person in order to effect such
repurchase. The sole remedy of the Issuer, the Owner Trustee, the Trust Collateral Agent, the Trustee or the Noteholders with respect to a breach of representations and warranties pursuant to Section 3.1(a) and the agreement contained in this
Section shall be the repurchase of Receivables pursuant to this Section, subject to the conditions contained herein or to enforce the obligation of AmeriCredit to the Seller to repurchase such Receivables pursuant to the Purchase Agreement. Neither
the Owner Trustee, the Trust Collateral Agent nor the Trustee shall have a duty to conduct any affirmative investigation as to the occurrence of any conditions requiring the repurchase of any Receivable pursuant to this Section. 

  
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 In addition to the foregoing and notwithstanding whether the related Receivable shall have been
purchased by the Seller, the Seller shall indemnify the Trust, the Trustee, the Trust Collateral Agent and the officers, directors, agents and employees thereof, and the Noteholders against all costs, expenses, losses, damages, claims and
liabilities, including reasonable fees and expenses of counsel, which may be asserted against or incurred by any of them as a result of third-party claims arising out of the events or facts giving rise to such breach. 

(b) Pursuant to Section 2.1 of this Agreement, the Seller conveyed to the Trust all of the Seller’s right, title and interest in its
rights and benefits, but none of its obligations or burdens, under the Purchase Agreement including the Seller’s rights under the Purchase Agreement and the delivery requirements, representations and warranties and the cure or repurchase
obligations of AmeriCredit thereunder. The Seller hereby represents and warrants to the Trust that such assignment is valid, enforceable and effective to permit the Trust to enforce such obligations of AmeriCredit under the Purchase Agreement. Any
purchase by AmeriCredit pursuant to the Purchase Agreement shall be deemed a purchase by the Seller pursuant to this Section 3.2 and the definition of Purchased Receivable. 

SECTION 3.3. Custody of Receivable Files. 

(a) In connection with the sale, transfer and assignment of the Receivables and the Other Conveyed Property to the Trust pursuant to this
Agreement and simultaneously with the execution and delivery of this Agreement, the Trust Collateral Agent hereby revocably appoints the Custodian, and the Custodian hereby accepts such appointment, to act as the agent of the Trust Collateral Agent
as custodian of the following documents or instruments in its possession or control (the “Receivable Files”) which shall be delivered to the Custodian as agent of the Trust Collateral Agent on or before the Closing Date (with
respect to each Receivable): 
 (i) The fully executed original (or with respect to “electronic chattel paper”, the
authoritative copy) of the Contract; and 
 (ii) The Lien Certificate (when received), and otherwise such documents, if any,
that AmeriCredit keeps on file in accordance with its customary procedures indicating that the Financed Vehicle is owned by the Obligor and subject to the interest of AmeriCredit or an Originating Affiliate (which may be accomplished by the use of a
properly registered “doing business as” (“DBA”) name in the applicable jurisdiction) as first lienholder or secured party (including any Lien Certificate received by AmeriCredit), or, if such Lien Certificate has not yet
been received, a copy of the application therefor, showing AmeriCredit or an Originating Affiliate (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) as secured party. 

The Receivables Files are constructively delivered to the Trust Collateral Agent, as pledgee of the Issuer pursuant to the Indenture, and the
Custodian hereby, as of the Closing Date, acknowledges receipt of the Receivable File for each Receivable listed in Schedule A hereto. No initial review or any periodic review of the Receivable Files by the Issuer, the Owner Trustee, the
Trustee or the Trust Collateral Agent is required. 

  
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 (b) If the Trust Collateral Agent, or its agent, as the case may be, is acting as the Custodian
pursuant to Section 3.12, the Trust Collateral Agent, or its agent, as the case may be, shall be deemed to have assumed the obligations of the Custodian (except for any liabilities incurred by the predecessor Custodian) specified in this
Agreement until such time as a successor Custodian has been appointed. Upon payment in full of any Receivable, the Servicer will notify the Custodian pursuant to a certificate of an officer of the Servicer (which certificate shall include a
statement to the effect that all amounts received in connection with such payments which are required to be deposited in the Collection Account pursuant to Section 4.1 have been so deposited) and shall request delivery of the Receivable and
Receivable File to the Servicer; provided, that no such certificate will be required to be delivered for so long as AmeriCredit is the Servicer. Upon the sale of any Receivable pursuant to Section 4.3(c), the Servicer (if AmeriCredit is
not the Servicer) will notify the Custodian pursuant to a certificate of an officer of the Servicer (which certificate shall include a statement to the effect that all amounts received in connection with such sale which are required to be deposited
in the Collection Account pursuant to Section 4.3(c) have been so deposited) and shall request delivery of the Receivable and Receivable File to the purchaser of such Receivable. From time to time as appropriate for servicing and enforcing any
Receivable, the Custodian shall, upon written request of an officer of the Servicer and delivery to the Custodian of a receipt signed by such officer, cause the original Receivable and the related Receivable File to be released to the Servicer;
provided, that no such written request shall be required for so long as AmeriCredit is the Servicer. The Servicer’s receipt of a Receivable and/or Receivable File shall obligate the Servicer to return the original Receivable and the related
Receivable File to the Custodian when its need by the Servicer has ceased unless the Receivable is repurchased as described in Section 3.2, 4.2, 4.4(c) or 4.7. 

SECTION 3.4. Maintenance and Safekeeping of the Receivable Files. The Custodian will accurately maintain and keep current the
Receivable Files, including any computer systems on which the Receivable Files are electronically stored, all in a manner that will permit the Servicer and the Issuer to comply with this Agreement and the Trust Collateral Agent to comply with the
Indenture. The Custodian will act with reasonable care, using that 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 automotive or other
receivables that it services or holds for itself or others. The Custodian shall promptly report to the Trust Collateral Agent in writing any failure on its part to hold the Receivable Files and maintain its accounts, records and computer
systems as herein provided and promptly take appropriate action to remedy any such failure.
 SECTION 3.5. Location of Receivables
Files. The Custodian will maintain the Receivable Files in the United States in such a manner as to permit retrieval thereof and access thereto in the manner contemplated by this Agreement. The Custodian’s records will at all times indicate
that it is holding the Receivable Files on behalf of the Trust, separate from any other instruments and files that it holds. 
 SECTION 3.6.
Access to Records. The Custodian shall, subject only 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 

  
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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 Noteholders and the
Trust Collateral Agent or their duly authorized representatives, attorneys or auditors to inspect, at the Servicer’s expense, the Receivable Files and the related accounts, records, and computer systems maintained by the Custodian pursuant
hereto at such times as the Noteholders or the Trust Collateral Agent may reasonably request. 
 SECTION 3.7. Advice of Counsel. The
Custodian shall be entitled to rely and act upon advice of counsel with respect to its performance hereunder as custodian and shall be without liability for any action reasonably taken pursuant to such advice, provided that such action is not in
violation of applicable Federal or state law. 
 SECTION 3.8. Administration; Reports. The Custodian shall, in general, attend to all
non-discretionary details in connection with maintaining custody of the Receivable Files on behalf of the Trust Collateral Agent. In addition, the Custodian shall assist the Trust Collateral Agent generally in the preparation of any routine
reports to Noteholders or to regulatory bodies, to the extent necessitated by the Custodian’s custody of the Receivable Files. 

SECTION 3.9. Instructions; Authority to Act. The Custodian shall be deemed to have received proper instructions with respect to the
Receivable Files upon its receipt of written instructions signed by a Responsible Officer of the Trust Collateral Agent. Such instructions may be general or specific in terms. A copy of any such instructions shall be furnished by the Trust
Collateral Agent to the Trustee (if they are separate entities) and the Issuer. 
 SECTION 3.10. Custodian Fee. For its services
under this Agreement, the Custodian shall be entitled to reasonable compensation to be paid by the Servicer. 
 SECTION 3.11.
Indemnification by the Custodian. The Custodian agrees to indemnify the Issuer, the Owner Trustee, the Trust Collateral Agent and the Trustee for any and all liabilities, obligations, losses, damage, payments, costs or expenses of any kind
whatsoever (including the fees and expenses of counsel) that may be imposed on, incurred or asserted against the Issuer, the Owner Trustee, the Trust Collateral Agent and the Trustee and 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 Receivable Files; 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 Issuer’s, the Owner Trustee’s, the Trust Collateral Agent’s or the Trustee’s or the officers’, directors’,
employees’ and agents’ thereof own willful misfeasance, bad faith or gross negligence. In no event shall the Custodian be liable to any third party for acts or omissions of the Custodian. 

SECTION 3.12. Effective Period and Termination of Custodian. AmeriCredit’s appointment as custodian is effective as of the Cutoff
Date and will continue until terminated pursuant to this Section 3.12. So long as AmeriCredit is serving as Custodian, any termination of AmeriCredit as Servicer hereunder shall terminate AmeriCredit as Custodian. As soon as practicable
after termination of its appointment as custodian, the Custodian shall deliver, at the Custodian’s expense, the Receivable Files to the Trust Collateral Agent on behalf of the Noteholders at such place or places as the Trust Collateral Agent
may designate, and the Trust 

  
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Collateral Agent, or its agent, as the case may be, shall act as custodian for such Receivables Files on behalf of the Noteholders 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 Receivable Files in accordance with the preceding sentence, the Trust Collateral Agent may enter the premises of the Custodian and remove
the Receivable Files from such premises. 
 SECTION 3.13. Dispute Resolution. 

(a) If the Servicer, the Trust, the Owner Trustee, the Trustee, the Trust Collateral Agent, a Noteholder or the Trust Collateral Agent on
behalf of certain Noteholders in accordance with the following sentence (the “Requesting Party”) requests that the Seller and/or AmeriCredit repurchase a Receivable due to an alleged breach of a representation and warranty in
Section 5.1 of the Purchase Agreement or in Section 3.2(a) (each, a “Repurchase Request”), and the Repurchase Request has not been resolved within 180 days of the receipt of notice of the Repurchase Request by the Seller
or AmeriCredit, as the case may be (which resolution may take the form of a repurchase of the related Receivable by the Seller or AmeriCredit, as applicable, a withdrawal of the related Repurchase Request by the related Requesting Party or a cure of
the condition that led to the related breach in the manner set forth herein or in the Purchase Agreement, as applicable), the Requesting Party may refer the matter, in its sole discretion, to either mediation (including non-binding arbitration) or
binding third-party arbitration. Noteholders representing five percent or more of the Outstanding Amount of the most senior Class of Notes then outstanding may direct the Trust Collateral Agent, by notice in writing, in relation to any matter
described in the preceding sentence, to initiate either mediation (including non-binding arbitration) or binding third-party arbitration, as directed by such Noteholders, on behalf of such Noteholders. The Requesting Party must start the mediation
or arbitration proceeding according to the ADR Rules of the ADR Organization within 90 days following the date on which the Form 10-D is filed that relates to the Collection Period during which the related 180-day period ended. The Seller and the
Servicer agree to participate in the dispute resolution method selected by the Requesting Party. 
 (b) If the Requesting Party selects
mediation for dispute resolution: 
 (i) The mediation will be administered by the ADR Organization using its ADR Rules.
However, if any ADR Rules are inconsistent with the procedures for mediation stated in this Section 3.13(b), the procedures in this Section 3.13(b) will control. 

(ii) A single mediator will be selected by the ADR Organization from a list of neutrals maintained by it according to the ADR
Rules. The mediator must be impartial, an attorney admitted to practice in the State of New York and have at least 15 years of experience in commercial litigation and, if possible, consumer finance or asset-backed securitization matters. 

(iii) The mediation will start within 15 Business Days after the selection of the mediator and conclude within 30 days after
the start of the mediation. 

  
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 (iv) Expenses of the mediation will be allocated to the parties as mutually
agreed by them as part of the mediation. 
 (v) If the parties fail to agree at the completion of the mediation, the
Requesting Party may refer the Repurchase Request to arbitration under this Section 3.13. 
 (c) If the Requesting Party selects
arbitration for dispute resolution: 
 (i) The arbitration will be administered by the ADR Organization using its ADR Rules.
However, if any ADR Rules are inconsistent with the procedures for arbitration stated in this Section 3.13(c), the procedures in this Section 3.13(c) will control. 

(ii) A single arbitrator will be selected by the ADR Organization from a list of neutrals maintained by it according to the ADR
Rules. The arbitrator must be an attorney admitted to practice in the State of New York and have at least 15 years of experience in commercial litigation and, if possible, consumer finance or asset-backed securitization matters. The arbitrator will
be independent and impartial and will comply with the Code of Ethics for Arbitrators in Commercial Disputes in effect at the time of the arbitration. Before accepting an appointment, the arbitrator must promptly disclose any circumstances likely to
create a reasonable inference of bias or conflict of interest or likely to preclude completion of the proceedings within the stated time schedule. The arbitrator may be removed by the ADR Organization for cause consisting of actual bias, conflict of
interest or other serious potential for conflict. 
 (iii) The arbitrator will have the authority to schedule, hear and
determine any motions, according to New York law, and will do so at the motion of any party. Discovery will be completed with 30 days of selection of the arbitrator and will be limited for each party to two witness depositions not to exceed five
hours, two interrogatories, one document request and one request for admissions. However, the arbitrator may grant additional discovery on a showing of good cause that the additional discovery is reasonable and necessary. Briefs will be limited to
no more than ten pages each, and will be limited to initial statements of the case, motions and a pre-hearing brief. The evidentiary hearing on the merits will start no later than 60 days after selection of the arbitrator and will proceed for no
more than six consecutive Business Days with equal time allocated to each party for the presentation of evidence and cross examination. The arbitrator may allow additional time for discovery and hearings on a showing of good cause or due to
unavoidable delays. 
 (iv) The arbitrator will make its final determination no later than 90 days after its selection. The
arbitrator will resolve the dispute according to the terms of this Agreement and the other Basic Documents, and may not modify or change this Agreement or the other Basic Documents in any way. The arbitrator will not have the power to award punitive
damages or consequential damages in any arbitration conducted by them. In its final determination, the arbitrator will determine and award the expenses of the arbitration (including filing fees, the fees of the arbitrator, expense of any record

  
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or transcript of the arbitration and administrative fees) to the parties in its reasonable discretion. The determination of the arbitrator will be in writing and counterpart copies will be
promptly delivered to the parties. The determination will be final and non-appealable, except for actions to confirm or vacate the determination permitted under federal or State law, and may be entered and enforced in any court of competent
jurisdiction. 
 (v) By selecting arbitration, the Requesting Party is giving up the right to sue in court, including the
right to a trial by jury. 
 (vi) The Requesting Party may not bring a putative or certificated class action to arbitration.
If this waiver of class action rights is found to be unenforceable for any reason, the Requesting Party agrees that it will bring its claims in a court of competent jurisdiction. 

(d) For each mediation or arbitration: 

(i) Any mediation or arbitration will be held in New York, New York at the offices of the mediator or arbitrator or at another
location selected by the Seller or AmeriCredit. Any party or witness may participate by teleconference or video conference. 

(ii) The Seller, AmeriCredit and the Requesting Party will have the right to seek provisional relief from a competent court of
law, including a temporary restraining order, preliminary injunction or attachment order, if such relief is available by law. 

(iii) Neither the Seller nor AmeriCredit will be required to produce personally identifiable customer information for purposes
of any mediation or arbitration. The existence and details of any unresolved Repurchase Request, any informal meetings, mediations or arbitration proceedings, the nature and amount of any relief sought or granted, any offers or statements made and
any discovery taken in the proceeding will be confidential, privileged and inadmissible for any purpose in any other mediation, arbitration, litigation or other proceeding. The parties will keep this information confidential and will not disclose or
discuss it with any third party (other than a party’s attorneys, experts, accountants and other advisors, as reasonably required in connection with the mediation or arbitration proceeding under this Section 3.13), except as required by
law, regulatory requirement or court order. If a party to a mediation or arbitration proceeding receives a subpoena or other request for information from a third party (other than a governmental regulatory body) for confidential information of the
other party to the mediation or arbitration proceeding, the recipient will promptly notify the other party and will provide the other party with the opportunity to object to the production of its confidential information. 

  
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 ARTICLE IV 

Administration and Servicing of Receivables 

SECTION 4.1. Duties of the Servicer 

The Servicer is hereby authorized to act as agent for the Trust and in such capacity shall manage, service, administer and make collections on
the Receivables, and perform the other actions required by the Servicer under this Agreement. The Servicer agrees that its servicing of the Receivables shall be carried out in accordance with customary and usual procedures of institutions which
service motor vehicle retail installment sale contracts and, to the extent more exacting, the degree of skill and attention that the Servicer exercises from time to time with respect to all comparable motor vehicle receivables that it services for
itself or others. In performing such duties, so long as AmeriCredit is the Servicer, it shall substantially comply with the policies and procedures described on Schedule C, as such policies and procedures may be updated from time to time. The
Servicer’s duties shall include, without limitation, collecting and posting all payments, responding to inquiries of Obligors on the Receivables, investigating delinquencies, sending payment invoices to Obligors, reporting any required tax
information to Obligors, monitoring the collateral, complying with the terms of the Lockbox Agreements, accounting for collections and furnishing monthly and annual statements to the Trust Collateral Agent and the Trustee with respect to
distributions, monitoring the status of Insurance Policies with respect to the Financed Vehicles and performing the other duties specified herein. 

The Servicer, or if AmeriCredit is no longer the Servicer, AmeriCredit, at the request of the Servicer, shall also administer and
enforce all rights and responsibilities of the holder of the Receivables provided for in the Dealer Agreements (and shall maintain possession of the Dealer Agreements, to the extent it is necessary to do so), the Dealer Assignments and the Insurance
Policies, to the extent that such Dealer Agreements, Dealer Assignments and Insurance Policies relate to the Receivables, the Financed Vehicles or the Obligors. To the extent consistent with the standards, policies and procedures otherwise required
hereby, the Servicer shall follow its customary standards, policies, and procedures and shall have full power and authority, acting alone, to do any and all things in connection with such managing, servicing, administration and collection that it
may deem necessary or desirable. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered by the Trust to execute and deliver, on behalf of the Trust, any and all instruments of satisfaction or cancellation,
or of partial or full release or discharge, and all other comparable instruments, with respect to the Receivables and with respect to the Financed Vehicles; provided, however, that notwithstanding the foregoing, the Servicer shall not, except
pursuant to an order from a court of competent jurisdiction, release an Obligor from payment of any unpaid amount under any Receivable or waive the right to collect the unpaid balance of any Receivable from the Obligor, except in accordance with the
Servicer’s customary practices. 
 The Servicer is hereby authorized to commence, in its own name or in the name of the Trust, a
legal proceeding to enforce a Receivable pursuant to Section 4.3 or to commence or participate in any other legal proceeding (including, without limitation, a bankruptcy proceeding) relating to or involving a Receivable, an Obligor or a
Financed Vehicle. If the Servicer commences or participates in such a legal proceeding in its own name, the Trust shall thereupon be deemed to have automatically assigned such Receivable to the Servicer solely for purposes of commencing or
participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Trust to execute and deliver in the Servicer’s name any notices, demands, claims, complaints, responses, affidavits or other
documents or instruments in connection with any such proceeding. The Trust Collateral Agent and the Owner Trustee shall furnish the Servicer with any limited powers of attorney and other documents which the Servicer

  
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may reasonably request and which the Servicer deems necessary or appropriate and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its
servicing and administrative duties under this Agreement. 
 As set forth in Section 9.3, in the event the Servicer fails to perform
its obligations hereunder, the successor Servicer shall be responsible for the Servicer’s duties in this Agreement as if it were the Servicer, provided that the successor Servicer shall not be liable for the Servicer’s breach of its
obligations. 
 SECTION 4.2. Collection of Receivable Payments; Modifications of Receivables; Lockbox Agreements. 

(a) Consistent with the standards, policies and procedures required by this Agreement, the Servicer shall make reasonable efforts to collect
all payments called for under the terms and provisions of the Receivables as and when the same shall become due, and shall follow such collection procedures as it follows with respect to all comparable automobile receivables that it services for
itself or others and otherwise act with respect to the Receivables, the Dealer Agreements, the Dealer Assignments, the Insurance Policies and the Other Conveyed Property in such manner as will, in the reasonable judgment of the Servicer, maximize
the amount to be received by the Trust with respect thereto, including directing the Issuer to sell the Receivables pursuant to Section 4.3(c). The Servicer is authorized in its discretion to waive any prepayment charge, late payment charge or
any other similar fees that may be collected in the ordinary course of servicing any Receivable. 
 (b) The Servicer may (i) at any
time agree to a modification or amendment of a Receivable in order to (A) not more than once per year, change the Obligor’s regular monthly due date to a date that shall in no event be later than 30 days after the original monthly due date
of that Receivable, in accordance with its customary procedures or (B) re-amortize the Scheduled Receivables Payments on the Receivable (x) following a partial prepayment of principal, in accordance with its customary procedures or
(y) following the Obligor’s reinstatement based on local laws or (ii) direct the Issuer to sell the Receivables pursuant to Section 4.3, if the Servicer believes in good faith that such extension, modification, amendment or sale
is necessary to avoid a default on such Receivable, will maximize the amount to be received by the Trust with respect to such Receivable, and is otherwise in the best interests of the Trust. 

(c) The Servicer may grant payment extensions on, or other modifications or amendments to, a receivable (in addition to those
modifications permitted by Section 4.2(b)), in accordance with its customary procedures if the Servicer believes in good faith that such extension, modification or amendment is necessary to avoid a default on such Receivable, will maximize the
amount to be received by the Trust with respect to such Receivable, and is otherwise in the best interests of the Trust; provided, however, that: 

(i) The aggregate period of all extensions on a Receivable shall not exceed eight months without approval of a servicing
officer of AmeriCredit; and 
 (ii) In no event may a Receivable be extended beyond the Collection Period immediately
preceding the latest Final Scheduled Distribution Date. 

  
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 (d) The Servicer, acting as agent for the Trust pursuant to the Lockbox Account Agreement, shall
use its best efforts to notify or direct Obligors to make all payments on the Receivables, whether by check or by direct debit of the Obligor’s bank account, to be made directly to one or more Lockbox Banks or Lockbox Processors pursuant to the
Lockbox Agreements. The Servicer shall use its best efforts to notify or direct any Lockbox Bank or Lockbox Processor to deposit all payments on the Receivables in the Lockbox Account no later than the Business Day after receipt, and to cause all
amounts credited to the Lockbox Account on account of such payments to be transferred to the Collection Account no later than the second Business Day after receipt of such payments. The Lockbox Account shall be a demand deposit account held by the
Lockbox Bank. 
 Prior to the Closing Date, the Servicer shall have notified each Obligor that makes its payments on the Receivables by
check to make such payments thereafter directly to the Lockbox Processor (except in the case of Obligors that have already been making such payments to the Lockbox Processor), and shall have provided each such Obligor with remittance invoices in
order to enable such Obligors to make such payments directly to the Lockbox Processor for deposit into the Lockbox Account, and the Servicer will continue, not less often than every three months, to so notify those Obligors who have failed to make
payments to the Lockbox Processor. If at any time, an Obligor’s bank account cannot be accessed by direct debit and if such inability is not cured within 15 days or cannot be cured by execution by the Obligor of a new authorization for
automatic payment, the Servicer shall notify such Obligor that it cannot make payment by direct debit and must thereafter make payment by check. 

Notwithstanding any Lockbox Agreement, or any of the provisions of this Agreement relating to the Lockbox Agreements, the Servicer shall
remain obligated and liable to the Trust, the Trust Collateral Agent and Noteholders for servicing and administering the Receivables and the Other Conveyed Property in accordance with the provisions of this Agreement without diminution of such
obligation or liability by virtue thereof. 
 In the event of a termination of the Servicer, the successor Servicer shall assume all of the
rights and obligations of the outgoing Servicer under the Lockbox Agreements subject to the terms hereof. In such event, the successor Servicer shall be deemed to have assumed all of the outgoing Servicer’s interest therein and to have replaced
the outgoing Servicer as a party to each such Lockbox Agreement to the same extent as if such Lockbox Agreements had been assigned to the successor Servicer, except that the outgoing Servicer shall not thereby be relieved of any liability or
obligations on the part of the outgoing Servicer to the Lockbox Bank or the Lockbox Processor under such Lockbox Agreements. The outgoing Servicer shall, upon request of the Trust Collateral Agent, but at the expense of the outgoing Servicer,
deliver to the successor Servicer all documents and records relating to each such Lockbox Agreement and an accounting of amounts collected and held by the Lockbox Processor and the Lockbox Bank and otherwise use its best efforts to effect the
orderly and efficient transfer of the Lockbox Agreements to the successor Servicer. In the event that the Majority Noteholders elect to change the identity of the Lockbox Bank or Lockbox Processor, the outgoing Servicer, at its expense, shall cause
the Lockbox Bank or Lockbox Processor to deliver, at the direction of the Majority Noteholders to the Trust Collateral Agent or a successor Lockbox Bank or Lockbox Processor, all documents and records relating to the Receivables and all amounts held
(or thereafter received) by the Lockbox Bank or the Lockbox Processor (together with an accounting of such amounts) and 

  
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shall otherwise use its best efforts to effect the orderly and efficient transfer of the lockbox arrangements and the Servicer shall notify the Obligors to make payments to the lockbox
arrangements established by the successor. 
 (e) The Servicer shall remit all payments by or on behalf of the Obligors received directly by
the Servicer to the Lockbox Bank as soon as practicable, but in no event later than the second Business Day after receipt thereof, and such amounts shall be deposited into the Lockbox Account and transferred from the Lockbox Account to the
Collection Account in accordance with Section 4.2(d). 
 (f) AmeriCredit shall not cause or permit the substitution of the Financed
Vehicle relating to a Receivable unless: (i) the substitution is a replacement of the Financed Vehicle originally financed under the related Receivable; (ii) the Financed Vehicle originally financed under the related Receivable was either
(x) insured under an Insurance Policy as required under Section 4.4(a) at the time of a casualty loss that is treated as a total loss under such Insurance Policy, (y) deemed to be a “lemon” pursuant to applicable state law
and repurchased by the related Dealer or (z) the subject of an order by a court of competent jurisdiction directing AmeriCredit to substitute another vehicle under the related Receivable; (iii) the related Receivable is not more than 30
days delinquent; (iv) the Obligor is deemed to be in “good standing” by the Servicer and is not in breach of any requirement under the related Receivable; (v) the replacement Financed Vehicle has a book value (N.A.D.A.) at least
equal to the book value (N.A.D.A.) of the Financed Vehicle that is being replaced, measured immediately before the casualty loss or replacement by the Dealer and (vi) as of the date of such substitution, the replacement Financed Vehicle’s
mileage is no greater than the mileage on the Financed Vehicle that is being replaced; provided, however, that if the substitution is made pursuant to clause (ii)(z), above, clauses (iii) through (vi) inclusive, shall not be
applicable. AmeriCredit shall not cause or permit the substitution of Financed Vehicles relating to Receivables having an original aggregate Principal Balance greater than two percent (2%) of the Original Pool Balance, (the
“Substitution Limit”). In the event that the Substitution Limit is exceeded for any reason, (i) AmeriCredit shall, on or before the next following Accounting Date, repurchase a sufficient number of such Receivables to cause the
aggregate original Principal Balances of such Receivables to be less than the Substitution Limit or (ii) if AmeriCredit is not the Servicer and the Servicer has caused substitutions to be made hereunder pursuant to the circumstances described
in clause (ii)(x), above, the Servicer shall, on or before the next following Accounting Date, repurchase a sufficient number of such Receivables to cause the aggregate original Principal Balances of such Receivables to be less than the Substitution
Limit. 
 SECTION 4.3. Realization upon Receivables. 

(a) In addition to the Servicer’s ability to direct the Issuer to sell Receivables pursuant to Section 4.3(c), and consistent
with the standards, policies and procedures required by this Agreement, the Servicer shall use its best efforts to repossess (or otherwise comparably convert the ownership of) and liquidate any Financed Vehicle securing a Receivable with respect to
which the Servicer has determined that payments thereunder are not likely to be resumed, as soon as is practicable; provided, however, that the Servicer may elect not to repossess a Financed Vehicle if in its good faith judgment it determines
that the proceeds ultimately recoverable with respect to such Receivable would be increased by forbearance or if it instead elects to direct the 

  
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Issuer to sell the Receivables pursuant to Section 4.3(c). The Servicer is authorized to follow such customary practices and procedures as it shall deem necessary or advisable, consistent
with the standard of care required by Section 4.1, which practices and procedures may include reasonable efforts to realize upon any recourse to Dealers, the sale of the related Financed Vehicle at public or private sale, the submission of
claims under an Insurance Policy and other actions by the Servicer in order to realize upon such a Receivable. The foregoing is subject to the provision that, in any case in which the Financed Vehicle shall have suffered damage, the Servicer shall
not expend funds in connection with any repair or towards the repossession of such Financed Vehicle unless it expects in its sole discretion, that such repair and/or repossession shall increase the proceeds of liquidation of the related Receivable
by an amount greater than the amount of such expenses. All amounts received upon liquidation of a Financed Vehicle shall be remitted directly by the Servicer to the Collection Account without deposit into any intervening account as soon as
practicable, but in no event later than the Business Day after receipt thereof. The Servicer shall be entitled to recover all reasonable expenses incurred by it in the course of repossessing and liquidating a Financed Vehicle into cash proceeds, but
only out of the cash proceeds of such Financed Vehicle, any deficiency obtained from the Obligor or any amounts received from the related Dealer, which amounts in reimbursement may be retained by the Servicer (and shall not be required to be
deposited as provided in Section 4.2(e)) to the extent of such expenses. The Servicer shall pay on behalf of the Trust any personal property taxes assessed on repossessed Financed Vehicles. The Servicer shall be entitled to reimbursement of any
such tax from Net Liquidation Proceeds with respect to such Receivable. 
 (b) If the Servicer, or if AmeriCredit is no longer the Servicer,
AmeriCredit at the request of the Servicer, elects to commence a legal proceeding to enforce a Dealer Agreement or Dealer Assignment, the act of commencement shall be deemed to be an automatic assignment from the Trust to the Servicer, or to
AmeriCredit at the request of the Servicer, of the rights under such Dealer Agreement or Dealer Assignment for purposes of collection only. If, however, in any enforcement suit or legal proceeding it is held that the Servicer or AmeriCredit, as
appropriate, may not enforce a Dealer Agreement or Dealer Assignment on the grounds that it is not a real party in interest or a Person entitled to enforce the Dealer Agreement or Dealer Assignment, the Owner Trustee and/or the Trust Collateral
Agent, at AmeriCredit’s expense, or the Seller, at the Seller’s expense, shall take such steps as the Servicer deems reasonably necessary to enforce the Dealer Agreement or Dealer Assignment, including bringing suit in its name or the name
of the Seller or of the Trust and the Owner Trustee and/or the Trust Collateral Agent for the benefit of the Noteholders. All amounts recovered shall be remitted directly by the Servicer as provided in Section 4.2(e). 

(c) Consistent with the standards, policies and procedures required by this Agreement, the Servicer may use its best efforts to locate
a third-party purchaser that is not affiliated with the Servicer, the Seller or the Issuer to purchase from the Issuer any Receivable that has become more than 60 days delinquent, and shall have the right to direct the Issuer to sell any such
Receivable to the third-party purchaser; provided, that no more than 20% of the number of Receivables in the pool as of the Cutoff Date may be sold by the Issuer pursuant to this Section 4.3(c) in the aggregate; provided further,
that the Servicer may elect to not direct the Issuer to sell a Receivable that has become more than 60 days delinquent if in its good faith judgment the Servicer determines that the proceeds ultimately recoverable with respect to such Receivable
would be increased by forbearance. In selecting Receivables to be sold to a third-party 

  
 35 

 
purchaser pursuant to this Section 4.3(c), the Servicer shall use commercially reasonable efforts to locate purchasers for the most delinquent Receivables first. In any event, the
Servicer shall not use any procedure in selecting Receivables to be sold to third-party purchasers which is materially adverse to the interest of the Noteholders. The Issuer shall sell each Sold Receivable for the greatest market price possible;
provided, however, that aggregate Sale Amounts received by the Issuer for all Receivables sold to a single third-party purchaser on a single date must be at least equal to the sum of the Minimum Sale Prices for all such Receivables. The
Servicer shall remit or cause the third-party purchaser to remit all sale proceeds from the sale of Receivables to the Collection Account without deposit into any intervening account as soon as practicable, but in no event later than the Business
Day after receipt thereof. 
 SECTION 4.4. Insurance. 

(a) The Servicer shall require, in accordance with its customary servicing policies and procedures, that each Financed Vehicle be insured by
the related Obligor under the Insurance Policies referred to in Paragraph 18 of the Schedule B-1 hereto and shall monitor the status of such physical loss and damage insurance coverage thereafter, in accordance with its customary servicing
procedures. Each Receivable requires the Obligor to maintain such physical loss and damage insurance, naming AmeriCredit or an Originating Affiliate (which may be accomplished by the use of a properly registered DBA name in the applicable
jurisdiction) and its successors and assigns as additional insureds, and permits the holder of such Receivable to obtain physical loss and damage insurance at the expense of the Obligor if the Obligor fails to maintain such insurance. If the
Servicer shall determine that an Obligor has failed to obtain or maintain a physical loss and damage Insurance Policy covering the related Financed Vehicle which satisfies the conditions set forth in such Paragraph 18 (including, without limitation,
during the repossession of such Financed Vehicle) the Servicer may enforce the rights of the holder of the Receivable under the Receivable to require the Obligor to obtain such physical loss and damage insurance in accordance with its customary
servicing policies and procedures. The Servicer may maintain a vendor’s single interest or other collateral protection insurance policy with respect to all Financed Vehicles (“Collateral Insurance”) which policy shall by its
terms insure against physical loss and damage in the event any Obligor fails to maintain physical loss and damage insurance with respect to the related Financed Vehicle. The Servicer shall cause itself or an Originating Affiliate, and may cause the
Trust Collateral Agent (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction), to be named as named insured under all policies of Collateral Insurance. Costs incurred by the Servicer in maintaining
such Collateral Insurance shall be paid by the Servicer. 
 (b) The Servicer may, if an Obligor fails to obtain or maintain a physical loss
and damage Insurance Policy, obtain insurance with respect to the related Financed Vehicle and advance on behalf of such Obligor, as required under the terms of the insurance policy, the premiums for such insurance (such insurance being referred to
herein as “Force-Placed Insurance”). All policies of Force-Placed Insurance shall be endorsed with clauses providing for loss payable to the Servicer. Any cost incurred by the Servicer in maintaining such Force-Placed Insurance
shall only be recoverable out of premiums paid by the Obligors or Net Liquidation Proceeds with respect to the Receivable, as provided in Section 4.4(c). 

  
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 (c) In connection with any Force-Placed Insurance obtained hereunder, the Servicer may, in the
manner and to the extent permitted by applicable law, require the Obligors to repay the entire premium to the Servicer. In no event shall the Servicer include the amount of the premium in the Amount Financed under the Receivable. For all purposes of
this Agreement, the Insurance Add-On Amount with respect to any Receivable having Force-Placed Insurance will be treated as a separate obligation of the Obligor and will not be added to the Principal Balance of such Receivable, and amounts allocable
thereto will not be available for distribution on the Notes and the Certificate. The Servicer shall retain and separately administer the right to receive payments from Obligors with respect to Insurance Add-On Amounts or rebates of Forced-Placed
Insurance premiums. If an Obligor makes a payment with respect to a Receivable having Force-Placed Insurance, but the Servicer is unable to determine whether the payment is allocable to the Receivable or to the Insurance Add-On Amount, the payment
shall be applied first to any unpaid Scheduled Receivables Payments and then to the Insurance Add-On Amount. Net Liquidation Proceeds on any Receivable will be used first to pay the Principal Balance and accrued interest on such Receivable and then
to pay the related Insurance Add-On Amount. If an Obligor under a Receivable with respect to which the Servicer has placed Force-Placed Insurance fails to make scheduled payments of such Insurance Add-On Amount as due, and the Servicer has
determined that eventual payment of the Insurance Add-On Amount is unlikely, the Servicer may, but shall not be required to, purchase such Receivable from the Trust for the Purchase Amount on any subsequent Determination Date. Any such Receivable,
and any Receivable with respect to which the Servicer has placed Force-Placed Insurance which has been paid in full (excluding any Insurance Add-On Amounts) will be assigned to the Servicer. 

(d) The Servicer may sue to enforce or collect upon the Insurance Policies, in its own name, if possible, or as agent of the Trust. If the
Servicer elects to commence a legal proceeding to enforce an Insurance Policy, the act of commencement shall be deemed to be an automatic assignment of the rights of the Trust under such Insurance Policy to the Servicer for purposes of collection
only. If, however, in any enforcement suit or legal proceeding it is held that the Servicer may not enforce an Insurance Policy on the grounds that it is not a real party in interest or a holder entitled to enforce the Insurance Policy, the Issuer
and/or the Trust Collateral Agent, at the Servicer’s expense, or the Seller, at the Seller’s expense, shall take such steps as the Servicer deems necessary to enforce such Insurance Policy, including bringing suit in its name or the name
of the Trust and the Owner Trustee and/or the Trust Collateral Agent for the benefit of the Noteholders. 
 SECTION 4.5. Maintenance of
Security Interests in Vehicles. 
 (a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take
such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle, including, but not limited to, obtaining the execution by the Obligors and the recording,
registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective
Receivables. The Trust Collateral Agent hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust as necessary because of the relocation of a Financed
Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust is insufficient, without a 

  
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notation on the related Financed Vehicle’s certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is
located, to perfect a security interest in the related Financed Vehicle in favor of the Trust, the Servicer hereby agrees that the designation of AmeriCredit or an Originating Affiliate (which may be accomplished by the use of a properly registered
DBA name in the applicable jurisdiction) as the secured party on the Lien Certificate is in its capacity as Servicer as agent of the Trust. 

(b) Upon the occurrence of a Servicer Termination Event, the Servicer or the successor Servicer (if no successor Servicer has been appointed,
then the Trust Collateral Agent) shall take or cause to be taken such action as may, in the Opinion of Counsel to the Majority Noteholders, be necessary to perfect or re-perfect the security interests in the Financed Vehicles securing the
Receivables in the name of the Trust by amending the title documents of such Financed Vehicles or by such other reasonable means as may, in the Opinion of Counsel to the Majority Noteholders, be necessary or prudent. 

AmeriCredit hereby agrees to pay all expenses related to such perfection or reperfection and to take all action necessary therefor.
AmeriCredit hereby appoints the Trust Collateral Agent as its attorney-in-fact to take any and all steps required to be performed by AmeriCredit pursuant to this Section 4.5(b) (it being understood that and agreed that the Trust Collateral
Agent shall have no obligation to take such steps with respect to all perfection or reperfection, except as pursuant to the Basic Documents to which it is a party and to which AmeriCredit has paid all expenses), including execution of Lien
Certificates or any other documents in the name and stead of AmeriCredit (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction), and the Trust Collateral Agent hereby accepts such appointment. 

SECTION 4.6. Covenants, Representations, and Warranties of Servicer. By its execution and delivery of this Agreement, the Servicer
makes the following representations, warranties and covenants on which the Trust Collateral Agent relies in accepting the Receivables and on which the Trustee relies in authenticating the Notes. 

(a) The Servicer covenants as follows: 

(i) Liens in Force. The Financed Vehicle securing each Receivable shall not be released in whole or in part from the
security interest granted by the Receivable, except upon payment in full of the Receivable or as otherwise contemplated herein; 

(ii) No Impairment. The Servicer shall do nothing to impair the rights of the Trust or the Noteholders in the
Receivables, the Dealer Agreements, the Dealer Assignments, the Insurance Policies or the Other Conveyed Property except as otherwise expressly provided herein; 

(iii) No Amendments. The Servicer shall not extend or otherwise amend the terms of any Receivable, except in accordance
with Section 4.2; and 
 (iv) Restrictions on Liens. The Servicer shall not (A) create, incur or suffer to
exist, or agree to create, incur or suffer to exist, or consent to cause or permit in the future (upon the happening of a contingency or otherwise) the creation, incurrence or 

  
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existence of any Lien or restriction on transferability of the Receivables except for the Lien in favor of the Trust Collateral Agent for the benefit of the Noteholders and the restrictions on
transferability imposed by this Agreement or (B) sign or file under the Uniform Commercial Code of any jurisdiction any financing statement which names AmeriCredit or the Servicer as a debtor, or sign any security agreement authorizing any
secured party thereunder to file such financing statement, with respect to the Receivables, except in each case any such instrument solely securing the rights and preserving the Lien of the Trust Collateral Agent, for the benefit of the Noteholders.

 (b) The Servicer represents, warrants and covenants as of the Closing Date as to itself that the representations and warranties
set forth in Schedule B-1 and in Schedule B-2 are true and correct; provided that such representations and warranties contained therein and herein shall not apply to any entity other than AmeriCredit. 

SECTION 4.7. Purchase of Receivables Upon Breach of Covenant. Upon discovery by any of the Servicer, a Responsible
Officer of the Trust Collateral Agent, the Owner Trustee or a Responsible Officer of the Trustee of a breach of any of the covenants set forth in Sections 3.4, 3.5, 3.6, 4.5(a) or 4.6, the party discovering such breach shall give prompt written
notice to the others; provided, however, that the failure to give any such notice shall not affect any obligation of AmeriCredit as Servicer under this Section. As of the second Accounting Date following its discovery or receipt of notice of
any breach of any covenant set forth in Sections 3.4, 4.5(a) or 4.6 which materially and adversely affects the interests of the Noteholders in any Receivable (including any Liquidated Receivable) (or, at AmeriCredit’s election, the first
Accounting Date so following) or the related Financed Vehicle, AmeriCredit shall, unless such breach shall have been cured in all material respects, purchase from the Trust the Receivable affected by such breach and, on the related Determination
Date, AmeriCredit shall pay the related Purchase Amount. It is understood and agreed that the obligation of AmeriCredit to purchase any Receivable (including any Liquidated Receivable) with respect to which such a breach has occurred and is
continuing shall, if such obligation is fulfilled, constitute the sole remedy against AmeriCredit for such breach available to the Noteholders, the Issuer, the Owner Trustee or the Trust Collateral Agent; provided, however, that AmeriCredit
shall indemnify the Trust, the Owner Trustee, the Trust Collateral Agent, the Trustee and the Noteholders from and against all costs, expenses, losses, damages, claims and liabilities, including reasonable fees and expenses of counsel, which may be
asserted against or incurred by any of them as a result of third-party claims arising out of the events or facts giving rise to such breach. Notwithstanding anything to the contrary contained herein, AmeriCredit will not be required to repurchase
Receivables due solely to the Servicer’s not having received Lien Certificates that have been properly applied for from the Registrar of Titles in the applicable states for such Receivables unless (i) such Lien Certificates shall not have
been received with respect to Receivables with Principal Balances which total more than 1.0% of the Aggregate Principal Balance as of the 180th day after the Closing Date, in which case
AmeriCredit shall be required to repurchase a sufficient number of such Receivables to cause the aggregate Principal Balances of the remaining Receivables for which no such Lien Certificate shall have been received to be no greater than 1.0% of the
Aggregate Principal Balance as of such date or (ii) such Lien Certificates shall not have been received as of the 240th day after the Closing Date. This Section shall survive the termination
of this Agreement and the earlier removal or resignation of the Trustee and/or the Trust Collateral Agent. 

  
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 SECTION 4.8. Total Servicing Fee; Payment of Certain Expenses by Servicer. On each
Distribution Date, the Servicer shall be entitled to receive out of the Collection Account the Base Servicing Fee and any Supplemental Servicing Fee for the related Collection Period (together, the “Servicing Fee”) pursuant to
Section 5.7. The Servicer shall be required to pay all expenses incurred by it in connection with its activities under this Agreement (including taxes imposed on the Servicer, expenses incurred in connection with distributions and reports made
by the Servicer to the Noteholders and all other fees and expenses of the Owner Trustee, the Trust Collateral Agent or the Trustee; provided, however, the Servicer shall not be required to pay taxes levied or assessed against the Trust
or claims against the Trust in respect of indemnification unless such taxes and claims are expressly stated to be for the account of AmeriCredit). The Servicer shall be liable for the fees and expenses of the Owner Trustee, the Trust Collateral
Agent, the Trustee, the Custodian, the Lockbox Bank (and any fees under the Lockbox Account Agreement), the Lockbox Processor (and any fees under the Lockbox Processing Agreement) and the Independent Accountants. Notwithstanding the foregoing, if
the Servicer shall not be AmeriCredit, a successor to AmeriCredit as Servicer permitted by Section 9.3 shall not be liable for taxes levied or assessed against the Trust or claims against the Trust in respect of indemnification, or the fees and
expenses referred to above. 
 SECTION 4.9. Servicer’s Certificate. 

No later than noon Eastern time on each Determination Date, the Servicer shall deliver (electronic delivery being acceptable) to the
Trustee, the Owner Trustee and the Trust Collateral Agent the monthly Servicer’s Certificate. The Servicer will also deliver the Servicer’s Certificate to each Rating Agency on the same date the Servicer’s Certificate is publicly
available (provided that if the Servicer’s Certificate is not made publicly available, the Servicer will deliver it to each Rating Agency, no later than the 15th of each month (or if not a Business Day, the next succeeding Business
Day)). The Servicer’s Certificate will be executed by a Responsible Officer of the Servicer and contain among other things: (i) all information necessary to enable the Trust Collateral Agent to make the distributions required by Sections
5.7(a) and 5.7(b), (ii) a listing of all Purchased Receivables and Sold Receivables purchased by the Servicer or sold by the Issuer as of the related Accounting Date, identifying the Receivables so purchased by the Servicer or sold by the
Issuer and (iii) all information necessary to enable the Trust Collateral Agent to make such statements available to Noteholders as required by Section 5.9. Receivables purchased by the Servicer or by the Seller on the related Accounting
Date and each Receivable which became a Liquidated Receivable or which was paid in full during the related Collection Period shall be identified by account number (as set forth in the Schedule of Receivables). 

SECTION 4.10. Annual Statement as to Compliance, Notice of Servicer Termination Event. 

(a) To the extent required by Section 1123 of Regulation AB, the Servicer, shall deliver to the Trustee, the Owner Trustee, the Trust
Collateral Agent and each Rating Agency, on or before March 31 (or 90 days after the end of the Issuer’s fiscal year, if other than December 31) of each year (regardless of whether the Seller has ceased filing reports under the
Exchange Act), beginning on March 31, 2017, an officer’s certificate signed by any Responsible Officer of the Servicer, dated as of December 31 of the previous calendar year, stating that (i) a review of the activities of the
Servicer during the preceding calendar year (or such other period as shall 

  
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have elapsed from the Closing Date to the date of the first such certificate) and of its performance under this Agreement has been made under such officer’s supervision, and (ii) to
such officer’s knowledge, based on such review, the Servicer has fulfilled in all material respects all its obligations under this Agreement throughout such period, or, if there has been a failure to fulfill any such obligation in any material
respect, identifying each such failure known to such officer and the nature and status of such failure. 
 (b) The Seller or the Servicer
shall deliver to the Trustee, the Owner Trustee, the Trust Collateral Agent, the Servicer or the Seller (as applicable) and each Rating Agency promptly after having obtained knowledge thereof, but in no event later than two (2) Business Days
thereafter, written notice in an officer’s certificate of any event which with the giving of notice or lapse of time, or both, would become a Servicer Termination Event under any clause of Section 9.1. 

(c) The Servicer will deliver to the Issuer, on or before March 31 of each year, beginning on March 31, 2017, a report regarding the
Servicer’s assessment of compliance with certain minimum servicing criteria during the immediately preceding calendar year, as required under Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB. 

(d) To the extent required by Regulation AB, the Servicer will cause any affiliated servicer or any other party deemed to be participating in
the servicing function pursuant to Item 1122 of Regulation AB to provide to the Issuer, on or before March 31 of each year, beginning on March 31, 2017, a report regarding such party’s assessment of compliance with certain
minimum servicing criteria during the immediately preceding calendar year, as required under Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB. 

(e) The Citibank, N.A. acknowledges, in its capacity as Trust Collateral Agent under this Agreement and in its capacity as Trustee under the
Basic Documents, that to the extent it is deemed to be participating in the servicing function pursuant to Item 1122 of Regulation AB, it will take any such action as outlined in the Item 1122 Letter Agreement to ensure compliance with the
requirements of Section 4.10(d) and Section 4.11(b) hereof and with Item 1122 of Regulation AB. Such required documentation will be delivered to the Servicer by March 15 of each calendar year. 

SECTION 4.11. Annual Independent Public Accountants’ Reports. 

(a) The Servicer shall cause a firm of nationally recognized independent certified public accountants (the “Independent
Accountants”), who may also render other services to the Servicer or its Affiliates, to deliver to the Trustee, the Owner Trustee and the Trust Collateral Agent, on or before March 31 (or 90 days after the end of the Issuer’s
fiscal year, if other than December 31) of each year, beginning in March 31, 2017, a report, dated as of December 31 of the preceding calendar year, addressed to the board of directors of the Servicer, providing its attestation report
on the servicing assessment delivered pursuant to Section 4.10(c), including disclosure of any material instance of non-compliance, as required by Rule 13a-18 and 15d-18 of the Exchange Act and Item 1122(b) of Regulation AB. Such
attestation will be in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the Exchange Act. 

  
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 (b) Each party required to deliver an assessment of compliance described in Section 4.10(d)
shall cause Independent Accountants, who may also render other services to such party or its Affiliates, to deliver to the Trustee, the Owner Trustee, the Trust Collateral Agent and the Servicer, on or before March 31 (or 90 days after the end
of the Issuer’s fiscal year, if other than December 31) of each year, beginning in March 31, 2017, a report, dated as of December 31 of the preceding calendar year, addressed to the board of directors of such party, providing its
attestation report on the servicing assessment delivered pursuant to Section 4.10(d), including disclosure of any material instance of non-compliance, as required by Rule 13a-18 and 15d-18 of the Exchange Act and Item 1122(b) of Regulation
AB. Such attestation will be in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the Exchange Act. 

(c) The Servicer shall cause a firm of Independent Accountants, who may also render other services to the Servicer or to the Seller,
(1) to deliver to the Trustee, the Owner Trustee and the Trust Collateral Agent, on or before April 30 (or 120 days after the end of the Servicer’s fiscal year, if other than December 31) of each year, beginning on April 30,
2017, with respect to the twelve months ended the immediately preceding December 31 (or other applicable date) (or such other period as shall have elapsed from the Closing Date to the date of such certificate (which period shall not be less
than six months)), a copy of the Form 10-K filed with the Commission for General Motors Financial Company, Inc., which filing includes a statement that such audit was made in accordance with generally accepted auditing standards, and accordingly
included such tests of the accounting records and such other auditing procedures as such firm considered necessary in the circumstances; and (2) upon request of the Trustee, the Owner Trustee or the Trust Collateral Agent, to issue an
acknowledgement to the effect that such firm has audited the books and records of General Motors Financial Company, Inc., in which the Servicer is included as a consolidated subsidiary, and issued its report pursuant to item (1) of this section
and that the accounting firm is independent of the Seller and the Servicer within the meaning of the Code of Professional Ethics of the American Institute of Certified Public Accountants. 

SECTION 4.12. Access to Certain Documentation and Information Regarding Receivables. The Servicer shall provide to representatives of
the Trustee, the Owner Trustee and the Trust Collateral Agent reasonable access to the documentation regarding the Receivables. In each case, such access shall be afforded without charge but only upon reasonable request and during normal business
hours. Nothing in this Section shall affect the obligation of the Servicer to observe any applicable law prohibiting disclosure of information regarding the Obligors, and the failure of the Servicer to provide access as provided in this Section as a
result of such obligation shall not constitute a breach of this Section. 
 ARTICLE V 

Trust Accounts; Distributions; Statements to Noteholders 

SECTION 5.1. Establishment of Trust Accounts. 

(a) (i) The Trust Collateral Agent, on behalf of the Noteholders, shall establish and maintain in its own name an Eligible Deposit Account
(the “Collection Account”), bearing a 

  
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designation clearly indicating that the funds deposited therein are held for the benefit of the Trust Collateral Agent on behalf of the Noteholders. The Collection Account shall initially be
established with the Trust Collateral Agent. 
 (ii) The Trust Collateral Agent, on behalf of the Noteholders, shall establish and maintain
in its own name an Eligible Deposit Account (the “Note Distribution Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Trust Collateral Agent on behalf of the
Noteholders. The Note Distribution Account shall initially be established with the Trust Collateral Agent. 
 (iii) The Trust Collateral
Agent, on behalf of the Noteholders, shall establish and maintain in its own name an Eligible Deposit Account (the “Reserve Account”), bearing a designation clearly indicating that the funds deposited therein are held for the
benefit of the Trust Collateral Agent on behalf of the Noteholders. The Reserve Account shall initially be established with the Trust Collateral Agent. 

(b) Funds on deposit in the Collection Account, the Reserve Account and the Note Distribution Account (collectively, the “Trust
Accounts”) shall be invested by the Trust Collateral Agent (or any custodian with respect to funds on deposit in any such account) in Eligible Investments selected in writing by the Servicer (pursuant to standing instructions or otherwise).
Absent receipt of such written investment direction from the Servicer, funds on deposit in the Trust Accounts shall be held uninvested. All such Eligible Investments shall be held by or on behalf of the Trust Collateral Agent for the benefit of the
Noteholders. Other than as permitted by the Rating Agencies, funds on deposit in any Trust Account shall be invested in Eligible Investments that will mature so that such funds will be available at the close of business on the Business Day
immediately preceding the following Distribution Date. All Eligible Investments will be held to maturity. Each institution at which the relevant Trust Account is maintained shall invest the funds therein as directed in writing by the Servicer in
Eligible Investments. 
 (c) All Investment Earnings of moneys deposited in each Trust Account shall be deposited (or caused to be
deposited) in the Collection Account on each Distribution Date by the Trust Collateral Agent and applied as Available Funds on such Distribution Date, and any loss resulting from such investments shall be charged to the related Trust Account. The
Servicer will not direct the Trust Collateral Agent to make any investment of any funds held in any of the Trust Accounts unless the security interest granted and perfected in such account will continue to be perfected in such investment, in either
case without any further action by any Person, and, in connection with any direction to the Trust Collateral Agent to make any such investment, if requested by the Trust Collateral Agent, the Servicer shall deliver to the Trust Collateral Agent an
Opinion of Counsel, acceptable to the Trust Collateral Agent, to such effect. 
 (d) The Trust Collateral Agent shall not in any way be held
liable by reason of any insufficiency in any of the Trust Accounts resulting from any loss on any Eligible Investment included therein except for losses attributable to the Trust Collateral Agent’s negligence or bad faith or its failure to make
payments on such Eligible Investments issued by the Trust Collateral Agent, in its commercial capacity as principal obligor and not as Trust Collateral Agent or as Trustee, in accordance with their terms. 

  
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 (e) If (i) the Servicer shall have failed to give investment directions in writing for any
funds on deposit in the Trust Accounts to the Trust Collateral Agent by 1:00 p.m. Eastern Time (or such other time as may be agreed by the Issuer and Trust Collateral Agent) on any Business Day; or (ii) a Default or Event of Default shall have
occurred and is continuing with respect to the Notes but the Notes shall not have been declared due and payable, or, if such Notes shall have been declared due and payable following an Event of Default, amounts collected or received from the Trust
Property are being applied as if there had not been such a declaration; then the Trust Collateral Agent shall, to the fullest extent practicable, invest and reinvest funds in the Trust Accounts in accordance with the instructions outlined in the
most recent investment direction letter between the Servicer and the Trust Collateral Agent. 
 (f) (i) The Trust Collateral Agent shall
possess all right, title and interest in all funds on deposit from time to time in the Trust Accounts and in all proceeds thereof for the benefit of the Noteholders and all such funds, investments, proceeds and income shall be part of the Owner
Trust Estate. Except as otherwise provided herein, the Trust Accounts shall be under the sole dominion and control of the Trust Collateral Agent for the benefit of the Noteholders. If, at any time, any of the Trust Accounts ceases to be an Eligible
Deposit Account, the Trust Collateral Agent (or the Servicer on its behalf) shall within five Business Days (or such longer period as to which each Rating Agency may consent) establish a new Trust Account as an Eligible Deposit Account and shall
transfer any cash and/or any investments to such new Trust Account. In connection with the foregoing, the Servicer agrees that, in the event that any of the Trust Accounts are not accounts with the Trust Collateral Agent, the Servicer shall notify
the Trust Collateral Agent in writing promptly upon any of such Trust Accounts ceasing to be an Eligible Deposit Account. 
 (ii) With
respect to the Trust Account Property, the Trust Collateral Agent agrees that: 
 (A) any Trust Account Property that is held
in deposit accounts shall be held solely in the Eligible Deposit Accounts; and, except as otherwise provided herein, each such Eligible Deposit Account shall be subject to the exclusive custody and control of the Trust Collateral Agent, and the
Trust Collateral Agent shall have sole signature authority with respect thereto; 
 (B) any Trust Account Property that
constitutes Physical Property shall be delivered to the Trust Collateral Agent in accordance with paragraph (a) of the definition of “Delivery” and shall be held, pending maturity or disposition, solely by the Trust Collateral Agent
or a securities intermediary (as such term is defined in Section 8-102(14) of the UCC) acting solely for the Trust Collateral Agent; 

(C) the “securities intermediary’s jurisdiction” for purposes of Section 8-110 of the UCC shall be
the State of New York; 
 (D) any Trust Account Property that is a book-entry security held through the Federal Reserve
System pursuant to Federal book-entry regulations shall be delivered in accordance with paragraph (b) of the definition of “Delivery” and shall be maintained by the Trust Collateral Agent, pending maturity or disposition, through
continued book-entry registration of such Trust Account Property as described in such paragraph; 

  
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 (E) any Trust Account Property that is an “uncertificated
security” or a “security entitlement” under Article 8 of the UCC and that is not governed by clause (D) above shall be delivered to the Trust Collateral Agent in accordance with paragraph (c) or (d), if
applicable, of the definition of “Delivery” and shall be maintained by the Trust Collateral Agent, pending maturity or disposition, through continued registration of the Trust Collateral Agent’s (or its nominee’s) ownership of
such security; and 
 (F) any cash that is Trust Account Property shall be considered a “financial asset”
under Article 8 of the UCC. 
 (g) The Servicer shall have the power to instruct the Trust Collateral Agent to make withdrawals and payments
from the Trust Accounts for the purpose of permitting the Servicer and the Trust Collateral Agent to carry out their respective duties hereunder. 

SECTION 5.2. [Reserved] 

SECTION 5.3. Certain Reimbursements to the Servicer. The Servicer will be entitled to be reimbursed from amounts on deposit in the
Collection Account with respect to a Collection Period for amounts previously deposited in the Collection Account but later determined by the Servicer to have resulted from mistaken deposits or postings or checks returned for insufficient funds. The
amount to be reimbursed hereunder shall be paid to the Servicer on the related Distribution Date pursuant to Section 5.7(a)(i) upon certification by the Servicer of such amounts and the provision of such information to the Trust Collateral
Agent. The Servicer will additionally be entitled to receive from amounts on deposit in the Collection Account with respect to a Collection Period any amounts paid by Obligors that were deposited in the Lockbox Account but that do not relate to
(i) principal and interest payments due on the Receivables and (ii) any fees or expenses related to extensions due on the Receivables. 

SECTION 5.4. Application of Collections. All collections for the Collection Period shall be applied by the Servicer as follows: 

(a) With respect to each Receivable (other than a Purchased Receivable or a Sold Receivable), payments by or on behalf of the Obligor, (other
than Supplemental Servicing Fees with respect to such Receivable, to the extent collected) shall be applied to interest and principal in accordance with the Simple Interest Method. 

(b) All amounts collected that are payable to the Servicer as Supplemental Servicing Fees hereunder shall be deposited in the Collection
Account and paid to the Servicer in accordance with Section 5.7(a). 

  
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 SECTION 5.5. [Reserved]. 

SECTION 5.6. Additional Deposits. 

(a) The Servicer and the Seller, as applicable, shall deposit or cause to be deposited in the Collection Account on the Determination Date on
which such obligations are due the aggregate Purchase Amount with respect to Purchased Receivables and the aggregate Sale Amounts with respect to Sold Receivables. 

(b) The proceeds of any purchase or sale of the assets of the Trust described in Section 10.1 shall be deposited in the Collection
Account. 
 SECTION 5.7. Distributions. 

(a) On each Distribution Date, the Trust Collateral Agent shall (based solely on the information contained in the Servicer’s Certificate
delivered with respect to the related Determination Date) apply or cause to be applied the sum of (x) the Available Funds (after withdrawing amounts deposited in error and Liquidation Proceeds relating to Purchased Receivables) for the related
Collection Period and (y) the Reserve Account Withdrawal Amount for such Distribution Date (such sum, the “Total Available Funds”) to distribute the following amounts from the Collection Account unless otherwise specified, to
the extent of the sources of funds stated to be available therefor, and in the following order of priority: 
 (i) from the
Total Available Funds, to the Servicer, (1) the Base Servicing Fee for the related Collection Period, (2) any Supplemental Servicing Fees for the related Collection Period, (3) any amounts specified in Section 5.3 and (4), to the
extent the Servicer has not reimbursed itself in respect of such amounts pursuant to Section 5.3, and to the extent not retained by the Servicer and to pay to AmeriCredit any amounts paid by Obligors during the preceding calendar month that did
not relate to (x) principal and interest payments due on the Receivables and (y) any fees or expenses related to extensions due on the Receivables; 

(ii) from the Total Available Funds, to each of the Lockbox Bank, the Lockbox Processor, the Trustee, the Trust
Collateral Agent, the Asset Representations Reviewer and the Owner Trustee, their respective accrued and unpaid fees, expenses and indemnities (in each case, to the extent such fees, expenses or indemnities have not been previously paid by the
Servicer, and provided that such fees, expenses and indemnities shall not exceed (x) $100,000 in the aggregate in any calendar year to the Owner Trustee, (y) $100,000 in the aggregate in any calendar year to the Lockbox Bank, the
Lockbox Processor, the Trust Collateral Agent and the Trustee) and (z) $200,000 in the aggregate in any calendar year to the Asset Representations Reviewer; 

(iii) from the Total Available Funds, to the Class A Noteholders, pari passu, the Noteholders’ Interest
Distributable Amount for the Class A Notes for such Distribution Date; 
 (iv) from the Total Available Funds,
for distribution as provided in paragraph (b) below, the Class A Principal Parity Amount; 

  
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 (v) from the Total Available Funds, for distribution as provided in paragraph
(b) below, any Matured Principal Shortfall on account of the Class A Notes; 
 (vi) from the Total Available Funds,
to the Class B Noteholders, the Noteholders’ Interest Distributable Amount for the Class B Notes for such Distribution Date; 

(vii) from the Total Available Funds, for distribution as provided in paragraph (b) below, the Class B Principal Parity
Amount; 
 (viii) from the Total Available Funds, for distribution as provided in paragraph (b) below, any Matured
Principal Shortfall on account of the Class B Notes; 
 (ix) from the Total Available Funds, to the Class C Noteholders, the
Noteholders’ Interest Distributable Amount for the Class C Notes for such Distribution Date; 
 (x) from the Total
Available Funds, for distribution as provided in paragraph (b) below, the Class C Principal Parity Amount; 
 (xi) from
the Total Available Funds, for distribution as provided in paragraph (b) below, any Matured Principal Shortfall on account of the Class C Notes; 

(xii) from the Total Available Funds, to the Class D Noteholders, the Noteholders’ Interest Distributable Amount for the
Class D Notes for such Distribution Date; 
 (xiii) from the Total Available Funds, for distribution as provided in paragraph
(b) below, the Class D Principal Parity Amount; 
 (xiv) from the Total Available Funds, for distribution as provided in
paragraph (b) below, any Matured Principal Shortfall on account of the Class D Notes; 
 (xv) from the Total Available
Funds, to the Class E Noteholders, the Noteholders’ Interest Distributable Amount for the Class E Notes, if any, for such Distribution Date; 

(xvi) from the Total Available Funds, for distribution as provided in paragraph (b) below, the Class E Principal Parity
Amount; 
 (xvii) from the Total Available Funds, for distribution as provided in paragraph (b) below, any Matured
Principal Shortfall on account of the Class E Notes; 
 (xviii) from the Total Available Funds, for distribution as provided
in paragraph (b) below, the Noteholders’ Principal Distributable Amount; 
 (xix) from the Total Available Funds,
to the Reserve Account, the Reserve Account Deposit Amount for such Distribution Date; 

  
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 (xx) from the Total Available Funds, for distribution as provided in paragraph
(b) below, the Accelerated Principal Amount; 
 (xxi) from the Total Available Funds, to pay each of the Trustee, the
Owner Trustee, the Trust Collateral Agent, the Asset Representations Reviewer, the Lockbox Bank and the Lockbox Processor any fees, expenses and indemnities then due to such party that are in excess of the related cap or annual limitation specified
in clauses (i) and (ii) above; and 
 (xxii) from the Total Available Funds, to the Certificate Distribution
Account for distribution to the Certificateholder in accordance with the Trust Agreement, the aggregate amount remaining in the Collection Account. 

On any Distribution Date with respect to which no Servicer’s Certificate was delivered, to the extent there are Available Funds in the
Collection Account, the Trust Collateral Agent will make payments of the Noteholders’ Interest Distributable Amounts described in (iii), (vi), (ix), (xii) and (xv) above as well as any Matured Principal Shortfalls described in (v),
(viii), (xi), (xiv) and xvii above. 
 (b) On each Distribution Date, the Trust Collateral Agent shall apply or cause to be
applied the amounts that are allocated to the Class A-2 Notes in accordance with clause (iii) of paragraph (a) above on that Distribution Date to the Class A-2-A Notes and the Class A-2-B Notes pro rata based on the
principal balance of the Class A-2-A Notes and the Class A-2-B Notes, respectively; provided, that if the amount so allocated to the Class A-2-A Notes or the Class A-2-B Notes on any Distribution Date exceeds the
Noteholders Interest Distributable Amount with respect to such Distribution Date and such Class, then the amount of such excess shall be allocated to the other such Class on that Distribution Date. On each Distribution Date, the Trust Collateral
Agent shall apply or cause to be applied the aggregate of the amounts described in clause (iv), (v), (vii), (viii), (x), (xi), (xiii), (xiv), (xv), (xvi), (xvii) and (xviii) of paragraph (a) above on that Distribution Date in the
listed order of priority: 
 (i) to the Class A-1 Noteholders in reduction of the remaining principal balance of
the Class A-1 Notes, until the outstanding principal balance thereof has been reduced to zero; 
 (ii) to the
Class A-2 Noteholders in reduction of the remaining principal balance of the Class A-2 Notes, until the outstanding principal balance thereof has been reduced to zero; 

(iii) to the Class A-3 Noteholders in reduction of the remaining principal balance of the Class A-3 Notes, until the
outstanding principal balance thereof has been reduced to zero; 
 (iv) to the Class B Noteholders in reduction of the
remaining principal balance of the Class B Notes, until the outstanding principal balance thereof has been reduced to zero; 

  
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 (v) to the Class C Noteholders in reduction of the remaining principal balance of
the Class C Notes, until the outstanding principal balance thereof has been reduced to zero; 
 (vi) to the Class D
Noteholders in reduction of the remaining principal balance of the Class D Notes, until the outstanding principal balance thereof has been reduced to zero; 

(vii) to the Class E Noteholders in reduction of the remaining principal balance of the Class E Notes, until the outstanding
principal balance thereof has been reduced to zero; 
 provided, however, that, (A) following an acceleration of the Notes pursuant to the
Indenture, (B) the occurrence of an Event of Default pursuant to Sections 5.1(a), 5.1(b), 5.1(d) or 5.1(e) of the Indenture or (C) the receipt of Insolvency Proceeds pursuant to Section 10.1(b), amounts deposited in the Note
Distribution Account (including any such Insolvency Proceeds) shall be paid to the Noteholders, pursuant to Section 5.6 of the Indenture. 

(c) In the event that the Collection Account is maintained with an institution other than the Trust Collateral Agent, the Servicer shall
instruct and cause such institution to make all deposits and distributions pursuant to Sections 5.7(a) and 5.7(b) on the related Distribution Date. 

(d) In the event that any withholding tax is imposed on the Trust’s payment (or allocations of income) to a Noteholder, such tax shall
reduce the amount otherwise distributable to the Noteholder in accordance with this Section. The Trust Collateral Agent is hereby authorized and directed to retain from amounts otherwise distributable to the Noteholders sufficient funds for the
payment of any tax attributable to the Trust (but such authorization shall not prevent the Trust Collateral Agent from contesting any such tax in appropriate proceedings, and withholding payment of such tax, if permitted by law, pending the outcome
of such proceedings). The amount of any withholding tax imposed with respect to a Noteholder shall be treated as cash distributed to such Noteholder at the time it is withheld by the Trust and remitted to the appropriate taxing authority. If there
is a possibility that withholding tax is payable with respect to a distribution (such as a distribution to a non-US Noteholder), the Trust Collateral Agent may in its sole discretion withhold such amounts in accordance with this clause (d). In the
event that a Noteholder wishes to apply for a refund of any such withholding tax, the Trust Collateral Agent shall reasonably cooperate with such Noteholder in making such claim so long as such Noteholder agrees to reimburse the Trust Collateral
Agent for any out-of-pocket expenses (including legal fees and expenses) incurred. 
 (e) Distributions required to be made to Noteholders
on any Distribution Date shall be made to each Noteholder of record on the preceding Record Date either by (i) wire transfer, in immediately available funds, to the account of such Holder at a bank or other entity having appropriate facilities
therefore, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five Business Days prior to such Distribution Date and such Holder’s Notes in the aggregate evidence a denomination of not less
than $1,000,000 or (ii) by check mailed to such Noteholder at the address of such holder appearing in the Note Register. Notwithstanding the foregoing, the final distribution in respect of any Note (whether on the Final

  
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Scheduled Distribution Date or otherwise) will be payable only upon presentation and surrender of such Note at the office or agency maintained for that purpose by the Note Registrar pursuant to
Section 2.4 of the Indenture. 
 (f) Subject to Section 5.1 and this section, monies received by the Trust Collateral Agent
hereunder need not be segregated in any manner except to the extent required by law and may be deposited under such general conditions as may be prescribed by law, and the Trust Collateral Agent shall not be liable for any interest thereon. 

SECTION 5.8. Reserve Account. 

(a) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in
the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders. 
 (b) The Seller may, from time to time
after the date hereof, request each Rating Agency to approve a formula for determining the Specified Reserve Balance that is different from the formula set forth herein, which may result in a decrease in the amount of the Specified Reserve Balance
or change the manner by which the Reserve Account is funded. Notwithstanding any other provision of this Agreement, if each Rating Agency then rating the Notes notifies the Seller (who shall send such notification to the Trust Collateral Agent) in
writing that the use of any such new formula, and any decrease in the amount of the Specified Reserve Balance or change in the manner by which the Reserve Account is funded, will not result in the qualification, reduction or withdrawal of its then
current rating of the Notes then the Specified Reserve Balance will be determined in accordance with such new formula and this Agreement will be amended to reflect such new formula without the consent of any Noteholder. 

(c) On each Distribution Date, the Servicer shall instruct the Trust Collateral Agent (based on the information contained in the
Servicer’s Certificate delivered on the related Determination Date) (A) if the amount on deposit in the Reserve Account (without taking into account any amount on deposit in the Reserve Account representing net investment earnings) is less
than the Specified Reserve Balance, in which case the Trust Collateral Agent shall, after payment of any amounts required to be distributed pursuant to clauses (i) through (xviii) of Section 5.7(a) deposit in the Reserve Account the
Reserve Account Deposit Amount pursuant to Section 5.7(a)(xix), and (B) if the amount on deposit in the Reserve Account, after giving effect to all other deposits thereto and withdrawals therefrom to be made on such Distribution Date is
greater than the Specified Reserve Balance, in which case the Trust Collateral Agent shall distribute the amount of such excess as part of Available Funds on such Distribution Date. 

(d) On each Distribution Date, the Servicer shall instruct the Trust Collateral Agent (based on the information contained in the
Servicer’s Certificate delivered on the related Determination Date) to withdraw the Reserve Account Withdrawal Amount from the Reserve Account and deposit such amounts in the Collection Account to be included as Total Available Funds for that
Distribution Date. 
 (e) Amounts properly transferred to the Certificate Distribution Account for payment to the Certificateholder pursuant
to this Agreement shall not be available to the Trust Collateral 

  
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Agent or the Trust for the purpose of making deposits to the Reserve Account, or making payments to the Noteholders, nor shall the Certificateholder be required to refund any amount properly
received by them. 
 SECTION 5.9. Statements to Noteholders. 

(a) On or prior to each Distribution Date, the Trust Collateral Agent shall make available to each Noteholder of record a statement setting
forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9: 

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

(ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; 

(iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available
Funds; 
 (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; 

(v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after
giving effect to payments allocated to principal reported under (i) above; 
 (vi) the amount of the Servicing Fee paid
to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; 

(vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the
change in that amount from the preceding statement; 
 (viii) the amount of the aggregate Realized Losses, if any, for the
second preceding Collection Period; and 
 (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased
by the Servicer or the Seller in such period. 
 (b) The Trust Collateral Agent will make available each month to each Noteholder the
statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Trust Collateral Agent’s internet website, with the use of a
password provided by the Trust Collateral Agent. The Trust Collateral Agent’s internet website will be located at www.sf.citidirect.com or at such other address as the Trust Collateral Agent shall notify the Noteholders from time to time. For
assistance with regard to this service, Noteholders can call the Trust Collateral Agent’s 

  
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website assistance line at (888) 885-9695. The Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order
to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Trust Collateral Agent shall provide notification
of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate. 

SECTION 5.10. Determination of LIBOR. 

The Trust Collateral Agent, as calculation agent (in such capacity, the “Calculation Agent”), will determine LIBOR for
purposes of calculating the Interest Rate for the Class A-2-B Notes (a) on April 12, 2016, for the period from the Closing Date to the first Distribution Date, and (b) for each given Interest Period thereafter, on the second
London Business Day prior to the Distribution Date on which such Interest Period begins (each, a “LIBOR Determination Date”). For purposes of calculating LIBOR, a “London Business Day” means a day on which banking
institutions in the City of London, England are not required or authorized by law to be closed. 
 “LIBOR” means,
the rate for deposits in U.S. Dollars, for a period equal to one month, which appears on the Reuters Screen LIBOR01 Page (or any replacement page) as of 11:00 a.m., London time, on the related LIBOR Determination Date. If such rate does not appear
on the Reuters Screen LIBOR01 Page, the rate for that Interest Period will be determined on the basis of the rates at which deposits in U.S. Dollars are offered by any four major banks in the London interbank market selected by the Calculation Agent
to provide such bank’s offered quotation of such rates at approximately 11:00 a.m., London time, on the related LIBOR Determination Date to prime banks in the London interbank market for a period of one month, commencing on the first day of
such Interest Period and in a principal amount of at least U.S.$1,000,000. The Calculation Agent, will request the principal London office of each of those four banks to provide a quotation of its rate. If at least two such quotations are provided,
the rate for that Interest Period will be the arithmetic mean of the quotations. If fewer than two quotations are provided as requested, the rate for that Interest Period will be the arithmetic mean of the rates quoted by major banks in New York
City selected by the Calculation Agent at approximately 11:00 a.m., New York City time, on the LIBOR Determination Date with respect to such Interest Period for loans in U.S. Dollars to leading European banks for a period equal to one month,
commencing on the first day of such Interest Period and in a principal amount of at least U.S.$1,000,000; provided, however, that if the banks selected by the Calculation Agent are not quoting rates as mentioned in this sentence, LIBOR
for such interest period will be the same as LIBOR for the immediately preceding Interest Period. 
 “Reuters Screen LIBOR01
Page” is the display designated on the Reuters service (or the successor display page, other published source, information vendor or provider that has been officially designated by Reuters). 

ARTICLE VI 
 [Reserved]

  
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 ARTICLE VII 

The Seller 
 SECTION 7.1.
Representations of Seller. The Seller makes the following representations on which the Issuer is deemed to have relied in acquiring the Receivables and on which the Trustee and Trust Collateral Agent may rely. The representations speak as of
the execution and delivery of this Agreement and as of the Closing Date, and shall survive the sale of the Receivables to the Issuer and the pledge thereof to the Trust Collateral Agent pursuant to the Indenture. 

(a) Schedules of Representations. The representations and warranties set forth on the Schedules of Representations attached hereto as
Schedule B-1 and Schedule B-2 are true and correct. 
 (b) Organization and Good Standing. The Seller has been duly organized and is
validly existing as a corporation in good standing under the laws of the State of Nevada, with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is currently conducted, and
had at all relevant times, and now has, power, authority and legal right to acquire, own and sell the Receivables and the Other Conveyed Property transferred to the Trust. 

(c) Due Qualification. The Seller is duly qualified to do business as a foreign corporation, 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 Seller’s ability to transfer the Receivables and the Other Conveyed Property to the Trust pursuant to this Agreement, or the
validity or enforceability of the Receivables and the Other Conveyed Property or to perform Seller’s obligations hereunder and under the Seller’s Basic Documents. 

(d) Power and Authority. The Seller has the power and authority to execute and deliver this Agreement and its Basic Documents and to
carry out its terms and their terms, respectively; the Seller has full power and authority to sell and assign the Receivables and the Other Conveyed Property to be sold and assigned to and deposited with the Trust by it and has duly authorized such
sale and assignment to the Trust by all necessary corporate action; and the execution, delivery and performance of this Agreement and the Seller’s Basic Documents have been duly authorized by the Seller by all necessary corporate action. 

(e) Valid Sale, Binding Obligations. This Agreement effects a valid sale, transfer and assignment of the Receivables and the Other
Conveyed Property, enforceable against the Seller and creditors of and purchasers from the Seller; and this Agreement and the Seller’s Basic Documents, when duly executed and delivered, shall constitute legal, valid and binding obligations of
the Seller enforceable in accordance with their respective terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ 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. 

  
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 (f) No Violation. The consummation of the transactions contemplated by this Agreement and
the Basic Documents and the fulfillment of the terms of this Agreement and the Basic Documents shall not conflict with, result in any breach of any of the terms and provisions of or constitute (with or without notice, lapse of time or both) a
default under the certificate of incorporation or by-laws of the Seller, or any indenture, agreement, mortgage, deed of trust or other instrument to which the Seller is a party or by which it is bound, or result in the creation or imposition of any
Lien 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 Seller of any court or of
any federal or state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Seller or any of its properties. 

(g) No Proceedings. There are no proceedings or investigations pending or, to the Seller’s knowledge, threatened against the
Seller, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over the Seller or its properties (i) asserting the invalidity of this Agreement or any of the Basic
Documents, (ii) seeking to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the Basic Documents, (iii) seeking any determination or ruling that might materially and
adversely affect the performance by the Seller of its obligations under, or the validity or enforceability of, this Agreement or any of the Basic Documents, or (iv) seeking to adversely affect the federal income tax or other federal, state or
local tax attributes of the Notes. 
 (h) Solvency. The Seller is not insolvent, nor will the Seller be made insolvent by the
transfer of the Receivables, nor does the Seller anticipate any pending insolvency. 
 (i) No Consents. The Seller 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 which has not already been obtained. 
 (j) True Sale. The Receivables are being transferred with
the intention of removing them from the Seller’s estate pursuant to Section 541 of the Bankruptcy Code, as the same may be amended from time to time. 

(k) Ordinary Course of Business. The transactions contemplated by this Agreement and the other Basic Documents to which the Seller is a
party are in the ordinary course of the Seller’s business. 
 (l) Chief Executive Office and Principal Place of Business. The
chief executive office and principal place of business of the Seller is at 2215-B Renaissance Drive, Suite 10, Las Vegas, Nevada 89119. 

(m) Investment Company Act. Neither the Seller nor the Issuer is an “investment company” or a company “controlled by an
investment company” within the meaning of the Investment Company Act. 

  
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 SECTION 7.2. Corporate Existence. 

(a) During the term of this Agreement, the Seller will keep in full force and effect its existence, rights and franchises as a corporation
under the laws of the jurisdiction of its incorporation and will obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this
Agreement, the Basic Documents and each other instrument or agreement necessary or appropriate to the proper administration of this Agreement and the transactions contemplated hereby. 

(b) During the term of this Agreement, the Seller shall observe the applicable legal requirements for the recognition of the Seller as a legal
entity separate and apart from its Affiliates, including as follows: 
 (i) the Seller shall maintain corporate records and
books of account separate from those of its Affiliates; 
 (ii) except as otherwise provided in this Agreement, the Seller
shall not commingle its assets and funds with those of its Affiliates; 
 (iii) the Seller shall hold such appropriate
meetings of its board of directors, or adopt resolutions pursuant to a unanimous written consent of the board of directors, as are necessary to authorize all the Seller’s corporate actions required by law to be authorized by the board of
directors, shall keep minutes of such meetings and of meetings of its stockholder(s) and observe all other customary corporate formalities (and any successor Seller not a corporation shall observe similar procedures in accordance with its governing
documents and applicable law); 
 (iv) the Seller shall at all times hold itself out to the public under the Seller’s
own name as a legal entity separate and distinct from its Affiliates; 
 (v) all transactions and dealings between the Seller
and its Affiliates will be conducted on an arm’s-length basis; and 
 (vi) the Seller shall pay from its assets all
obligations and indebtedness of any kind incurred by the Seller. 
 SECTION 7.3. Liability of Seller; Indemnities. The Seller shall
be liable in accordance herewith only to the extent of the obligations specifically undertaken by the Seller under this Agreement. 
 (a)
The Seller shall indemnify, defend and hold harmless the Owner Trustee, the Issuer, the Trustee and the Trust Collateral Agent and their respective officers, directors, employees and agents from and against any taxes that may at any time be asserted
against any such Person with respect to the transactions or activities contemplated in this Agreement and any of the Basic Documents (except any income taxes arising out of fees paid to the Owner Trustee, the Trust Collateral Agent and the Trustee
and except any taxes to which the Owner Trustee, the Trust Collateral Agent or the Trustee may otherwise be subject to, without regard to the 

  
 55 

 
transactions contemplated hereby), including any sales, gross receipts, general corporation, tangible or intangible personal property, privilege or license taxes (but, in the case of the Issuer,
not including any taxes asserted with respect to, federal or other income taxes arising out of distributions on the Notes) and costs and expenses in defending against the same. 

(b) The Seller shall indemnify, defend and hold harmless the Issuer, the Owner Trustee, the Trustee and the Trust Collateral Agent and the
officers, directors, employees and agents thereof and the Noteholders from and against any loss, liability or expense incurred by reason of (i) the Seller’s willful misfeasance, bad faith or negligence in the performance of its duties
under this Agreement, or by reason of reckless disregard of its obligations and duties under this Agreement and (ii) the Seller’s or the Issuer’s violation of federal or state securities laws in connection with the offering and sale
of the Notes. 
 (c) The Seller shall indemnify, defend and hold harmless the Issuer, the Owner Trustee, Trustee and the Trust Collateral
Agent and the officers, directors, employees and agents thereof from and against any and all costs, expenses, losses, claims, damages and liabilities arising out of, or incurred in connection with the acceptance or performance of the trusts and
duties set forth herein and in the Basic Documents except to the extent that such cost, expense, loss, claim, damage or liability shall be due to the willful misfeasance, bad faith or negligence (except for errors in judgment) of the Owner Trustee,
Trustee or the Trust Collateral Agent, respectively. 
 Indemnification under this Section shall survive the resignation or removal of the
Owner Trustee, the Trustee or the Trust Collateral Agent and the termination of this Agreement or the Indenture or the Trust Agreement, as applicable, and shall include reasonable fees and expenses of counsel and other expenses of litigation. If the
Seller shall have made any indemnity payments pursuant to this Section and the Person to or on behalf of whom such payments are made thereafter shall collect any of such amounts from others, such Person shall promptly repay such amounts to the
Seller, without interest. 
 SECTION 7.4. Merger or Consolidation of, or Assumption of the Obligations of, Seller. Any Person
(a) into which the Seller may be merged or consolidated, (b) which may result from any merger or consolidation to which the Seller shall be a party or (c) which may succeed to the properties and assets of the Seller substantially as a
whole, which Person in any of the foregoing cases executes an agreement of assumption to perform every obligation of the Seller under this Agreement, shall be the successor to the Seller hereunder without the execution or filing of any document or
any further act by any of the parties to this Agreement; provided, however, that (i) immediately after giving effect to such transaction, no representation or warranty made pursuant to Section 3.1(a) shall have been breached and no
Servicer Termination Event, and no event which, after notice or lapse of time, or both, would become a Servicer Termination Event shall have happened and be continuing, (ii) the Seller shall have delivered to the Owner Trustee, the Trust
Collateral Agent and the Trustee an Officers’ Certificate and an Opinion of Counsel each stating that such consolidation, merger or succession and such agreement of assumption comply with this Section and that all conditions precedent, if any,
provided for in this Agreement relating to such transaction have been complied with, (iii) the Rating Agency Condition shall have been satisfied with respect to such transaction and (iv) the Seller shall have delivered to the Owner
Trustee, the Trust Collateral Agent and the Trustee an 

  
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Opinion of Counsel stating that, in the opinion of such counsel, either (A) all financing statements and continuation statements and amendments thereto have been executed and filed that are
necessary fully to preserve and protect the interest of the Trust Collateral Agent, the Issuer and the Trustee, respectively, in the Receivables and reciting the details of such filings or (B) no such action shall be necessary to preserve and
protect such interest. Notwithstanding anything herein to the contrary, the execution of the foregoing agreement of assumption and compliance with clauses (i), (ii), (iii) and (iv) above shall be conditions to the consummation of the
transactions referred to in clauses (a), (b) or (c) above. 
 SECTION 7.5. Limitation on Liability of Seller and Others.
The Seller and any director or officer or employee or agent of the Seller may rely in good faith on the advice of counsel or on any document of any kind, prima facie properly executed and submitted by any Person respecting any matters arising under
any Basic Document. The Seller shall not be under any obligation to appear in, prosecute or defend any legal action that shall not be incidental to its obligations under this Agreement, and that in its opinion may involve it in any expense or
liability. 
 SECTION 7.6. Ownership of the Certificates or Notes. The Seller and any Affiliate thereof may in its
individual or any other capacity become the owner or pledgee of Certificates or Notes with the same rights as it would have if it were not the Seller or an Affiliate thereof, except as expressly provided herein or in any Basic Document. Notes or
Certificates so owned by the Seller or such Affiliate shall have an equal and proportionate benefit under the provisions of the Basic Documents, without preference, priority, or distinction as among all of the Notes or Certificates; provided,
however, that any Notes or Certificates owned by the Seller or any Affiliate thereof, during the time such Notes or Certificates are owned by them, shall be without voting rights for any purpose set forth in the Basic Documents. The Seller shall
notify the Owner Trustee, the Trustee and the Trust Collateral Agent with respect to any other transfer of any Certificate.  

ARTICLE VIII 
 The Servicer

 SECTION 8.1. Representations of Servicer. The Servicer makes the following representations on which the Issuer is deemed to
have relied in acquiring the Receivables. The representations speak as of the execution and delivery of this Agreement and as of the Closing Date, and shall survive the sale of the Receivables to the Issuer and the pledge thereof to the Trust
Collateral Agent pursuant to the Indenture. 
 (a) Representations and Warranties. The representations and warranties set forth in
Schedule B-1 and Schedule B-2 are true and correct, provided that such representations and warranties contained therein and herein shall not apply to any entity other than AmeriCredit; 

(b) Organization and Good Standing. The Servicer 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 had at all relevant times, and now has,
power, authority and legal right to enter into and perform its obligations under this Agreement; 

  
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 (c) Due Qualification. The Servicer is duly qualified to do business as a foreign
corporation, is in good standing and has obtained all necessary licenses and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business (including the servicing of the Receivables as required by this
Agreement) requires or shall require such qualification; 
 (d) Power and Authority. The Servicer has the power and authority to
execute and deliver this Agreement and its Basic Documents and to carry out its terms and their terms, respectively, and the execution, delivery and performance of this Agreement and the Servicer’s Basic Documents have been duly authorized by
the Servicer by all necessary corporate action; 
 (e) Binding Obligation. This Agreement and the Servicer’s Basic Documents
shall constitute legal, valid and binding obligations of the Servicer enforceable in accordance with their respective terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, or other similar laws affecting the
enforcement of creditors’ 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; 

(f) No Violation. The consummation of the transactions contemplated by this Agreement and the Servicer’s Basic Documents, and the
fulfillment of the terms of this Agreement and the Servicer’s Basic Documents, 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) a default under, the
articles of incorporation or bylaws of the Servicer, or any indenture, agreement, mortgage, deed of trust or other instrument to which the Servicer is a party or by which it is bound, or result in the creation or imposition of any Lien 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 Servicer of any court or of any federal or
state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Servicer or any of its properties; 

(g) No Proceedings. There are no proceedings or investigations pending or, to the Servicer’s knowledge, threatened against the
Servicer, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over the Servicer or its properties (A) asserting the invalidity of this Agreement or any of the Basic
Documents, (B) seeking to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the Basic Documents, (C) seeking any determination or ruling that might materially and
adversely affect the performance by the Servicer of its obligations under, or the validity or enforceability of, this Agreement or any of the Basic Documents or (D) seeking to adversely affect the federal income tax or other federal, state or
local tax attributes of the Notes; 
 (h) No Consents. The Servicer 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 which has not
already been obtained. 

  
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 (i) Chief Executive Office and Principal Place of Business. The chief executive office and
principal place of business of the Servicer is located at 801 Cherry Street, Suite 3500, Fort Worth, Texas 76102. 
 SECTION 8.2.
Liability of Servicer; Indemnities. 
 (a) The Servicer (in its capacity as such) shall be liable hereunder only to the extent of the
obligations in this Agreement specifically undertaken by the Servicer and the representations made by the Servicer. 
 (b) The Servicer
shall defend, indemnify and hold harmless the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, their respective officers, directors, agents and employees, and the Noteholders from and against any and all costs, expenses, losses,
damages, claims and liabilities, including reasonable fees and expenses of counsel and expenses of litigation arising out of or resulting from the use, ownership or operation by the Servicer or any Affiliate thereof of any Financed Vehicle. 

(c) The Servicer (when the Servicer is AmeriCredit) shall indemnify, defend and hold harmless the Trust, the Trustee, the Trust Collateral
Agent, the Owner Trustee, their respective officers, directors, agents and employees and the Noteholders from and against any taxes that may at any time be asserted against any of such parties with respect to the transactions or activities
contemplated in this Agreement, including, without limitation, any sales, gross receipts, general corporation, tangible or intangible personal property, privilege or license taxes (but not including any federal or other income taxes, including
franchise taxes asserted with respect to, and as of the date of, the sale of the Receivables and the Other Conveyed Property to the Trust or the issuance and original sale of the Notes) and costs and expenses in defending against the same. 

(d) The Servicer (when the Servicer is not AmeriCredit) shall indemnify, defend and hold harmless the Trust, the Trustee, the Trust Collateral
Agent, the Owner Trustee, the Collateral Agent, their respective officers, directors, agents and employees and the Noteholders from and against any taxes with respect to the sale of Receivables in connection with servicing hereunder that may at any
time be asserted against any of such parties with respect to the transactions or activities contemplated in this Agreement, including, without limitation, any sales, gross receipts, general corporation, tangible or intangible personal property,
privilege or license taxes (but not including any federal or other income taxes, including franchise taxes asserted with respect to, and as of the date of, the sale of the Receivables and the Other Conveyed Property to the Trust or the issuance and
original sale of the Notes) and costs and expenses in defending against the same. 
 (e) The Servicer shall indemnify, defend and hold
harmless the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, their respective officers, directors, agents and employees and the Noteholders from and against any and all costs, expenses, losses, claims, damages, and liabilities,
including reasonable fees and expenses of counsel and expenses of litigation, to the extent that such cost, expense, loss, claim, damage, or liability arose out of, or was imposed upon the Trust, the Trustee, the Owner Trustee, the Trust Collateral
Agent or the 

  
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Noteholders by reason of the breach of this Agreement by the Servicer, the negligence, misfeasance, or bad faith of the Servicer in the performance of its duties under this Agreement or by reason
of reckless disregard of its obligations and duties under this Agreement. 
 (f) AmeriCredit shall indemnify, defend and hold harmless the
Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, their respective officers, directors, agents and employees and the Noteholders from and against any loss, liability or expense incurred by reason of the violation by Servicer or
Seller of federal or state securities laws in connection with the registration or the sale of the Notes. This section shall survive the termination of this Agreement, or the earlier removal or resignation of the Trustee or the Trust Collateral
Agent. 
 (g) AmeriCredit shall indemnify the Trustee, the Owner Trustee, the Trust Collateral Agent and the respective officers, directors,
agents and employees thereof against any and all loss, liability or expense, (other than overhead and expenses incurred in the normal course of business) incurred by each of them in connection with the acceptance or administration of the Trust and
the performance of their duties under the Basic Documents other than if such loss, liability or expense was incurred by the Trustee, the Owner Trustee or the Trust Collateral Agent as a result of any such entity’s willful misconduct, bad faith
or negligence. 
 (h) Indemnification under this Article shall include, without limitation, reasonable fees and expenses of counsel and
expenses of litigation. If the Servicer has made any indemnity payments pursuant to this Article and the recipient thereafter collects any of such amounts from others, the recipient shall promptly repay such amounts collected to the Servicer,
without interest. 
 (i) When the Trustee or the Trust Collateral Agent incurs expenses after the occurrence of a Servicer Termination Event
specified in Section 9.1(d) or (e) with respect to the Servicer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or
similar law. 
 SECTION 8.3. Merger or Consolidation of, or Assumption of the Obligations of the Servicer. 

AmeriCredit shall not merge or consolidate with any other Person, convey, transfer or lease substantially all its assets as an entirety to
another Person, or permit any other Person to become the successor to AmeriCredit’s business unless, after the merger, consolidation, conveyance, transfer, lease or succession, the successor or surviving entity shall be capable of fulfilling
the duties of AmeriCredit contained in this Agreement and shall be acceptable to the Majority Noteholders, and shall be an eligible servicer. Any corporation (a) into which AmeriCredit may be merged or consolidated, (b) resulting from any
merger or consolidation to which AmeriCredit shall be a party, (c) which acquires by conveyance, transfer, or lease substantially all of the assets of AmeriCredit, or (d) succeeding to the business of AmeriCredit, in any of the foregoing
cases shall execute an agreement of assumption to perform every obligation of AmeriCredit under this Agreement and, whether or not such assumption agreement is executed, shall be the successor to AmeriCredit under this Agreement without the
execution or filing of any paper or any further act on the part of any of the parties to this Agreement, anything in this Agreement to the contrary notwithstanding; provided, however, that nothing contained herein shall be deemed to release
AmeriCredit from any obligation. AmeriCredit shall provide 

  
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notice of any merger, consolidation or succession pursuant to this Section to the Owner Trustee, the Trust Collateral Agent, the Noteholders and each Rating Agency. Notwithstanding the foregoing,
AmeriCredit shall not merge or consolidate with any other Person or permit any other Person to become a successor to AmeriCredit’s business, unless (x) immediately after giving effect to such transaction, no representation or warranty made
pursuant to Section 4.6 shall have been breached (for purposes hereof, such representations and warranties shall speak as of the date of the consummation of such transaction), (y) AmeriCredit shall have delivered to the Owner Trustee, the
Trust Collateral Agent, the Trustee and the Rating Agencies an Officer’s Certificate and an Opinion of Counsel each stating that such consolidation, merger or succession and such agreement of assumption comply with this Section and that all
conditions precedent, if any, provided for in this Agreement relating to such transaction have been complied with, and (z) AmeriCredit shall have delivered to the Owner Trustee, the Trust Collateral Agent, the Trustee and the Rating Agencies an
Opinion of Counsel, stating in the opinion of such counsel, either (A) all financing statements and continuation statements and amendments thereto have been executed and filed that are necessary to preserve and protect the interest of the Trust
in the Receivables and the Other Conveyed Property and reciting the details of the filings or (B) no such action shall be necessary to preserve and protect such interest. 

SECTION 8.4. Limitation on Liability of Servicer and Others. 

Neither AmeriCredit nor any of the directors or officers or employees or agents of AmeriCredit shall be under any liability to the Trust or
the Noteholders, except as provided in this Agreement, for any action taken or for refraining from the taking of any action pursuant to this Agreement; provided, however, that this provision shall not protect AmeriCredit or any such person
against any liability that would otherwise be imposed by reason of a breach of this Agreement or willful misfeasance, bad faith or negligence (excluding errors in judgment) in the performance of duties; provided, further, that this provision
shall not affect any liability to indemnify the Trust Collateral Agent, the Trustee and the Owner Trustee for costs, taxes, expenses, claims, liabilities, losses or damages paid by the Trust Collateral Agent, the Trustee and the Owner Trustee, in
their individual capacities. AmeriCredit and any director, officer, employee or agent of AmeriCredit may rely in good faith on the written advice of counsel or on any document of any kind prima facie properly executed and submitted by any Person
respecting any matters arising under this Agreement. 
 SECTION 8.5. Delegation of Duties. The Servicer may delegate duties under
this Agreement to an Affiliate of the Servicer without first obtaining the consent of any Person. The Servicer also may at any time perform specific duties through sub-contractors in accordance with Servicer’s customary servicing policies and
procedures. No delegation or sub-contracting by the Servicer of its duties herein in the manner described in this Section 8.5 shall relieve the Servicer of its responsibility with respect to such duties. 

SECTION 8.6. Servicer Not to Resign. Subject to the provisions of Section 8.3, the Servicer shall not resign from the obligations
and duties imposed on it by this Agreement as Servicer except upon a determination that by reason of a change in legal requirements the performance of its duties under this Agreement would cause it to be in violation of such legal requirements in a
manner which would have a material adverse effect on the Servicer if the Majority Noteholders do not elect to waive the obligations of the Servicer to perform the duties 

  
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which render it legally unable to act or to delegate those duties to another Person. Any such determination permitting the resignation of the Servicer shall be evidenced by an Opinion of Counsel
to such effect delivered and acceptable to the Trust Collateral Agent and the Owner Trustee. No resignation of the Servicer shall become effective until an entity acceptable to the Majority Noteholders shall have assumed the responsibilities and
obligations of the Servicer. 
 ARTICLE IX 

Default 
 SECTION 9.1.
Servicer Termination Event. For purposes of this Agreement, each of the following shall constitute a “Servicer Termination Event”: 

(a) Any failure by the Servicer to deliver to the Trust Collateral Agent for distribution to Noteholders any proceeds or payment required to
be so delivered under the terms of this Agreement that continues unremedied for a period of two Business Days (one Business Day with respect to payment of Purchase Amounts) after written notice is received by the Servicer from the Trust Collateral
Agent or after discovery of such failure by a Responsible Officer of the Servicer; or 
 (b) Failure by the Servicer to deliver to the Trust
Collateral Agent the Servicer’s Certificate by the first Business Day prior to the Distribution Date, or failure on the part of the Servicer to observe its covenants and agreements set forth in Section 8.3; or 

(c) Failure on the part of the Servicer duly to observe or perform any other covenants or agreements of the Servicer set forth in this
Agreement, which failure (i) materially and adversely affects the rights of Noteholders, and (ii) continues unremedied for a period of 30 days after knowledge thereof by the Servicer or after the date on which written notice of such
failure, requiring the same to be remedied, shall have been given to the Servicer by the Trust Collateral Agent; or 
 (d) The entry of a
decree or order for relief by a court or regulatory authority having jurisdiction in respect of the Servicer in an involuntary case under the federal bankruptcy laws, as now or hereafter in effect, or another present or future, federal bankruptcy,
insolvency or similar law, or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Servicer or of any substantial part of its property or ordering the winding up or liquidation of the affairs
of the Servicer and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days or the commencement of an involuntary case under the federal bankruptcy laws, as now or hereinafter in effect, or another
present or future federal or state bankruptcy, insolvency or similar law and such case is not dismissed within 60 days; or 
 (e) The
commencement by the Servicer of a voluntary case under the federal bankruptcy laws, as now or hereafter in effect, or any other present or future, federal or state, bankruptcy, insolvency or similar law, or the consent by the Servicer to the
appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Servicer or of any substantial part of its property or the making by the

  
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Servicer of an assignment for the benefit of creditors or the failure by the Servicer generally to pay its debts as such debts become due or the taking of corporate action by the Servicer in
furtherance of any of the foregoing; or 
 (f) Any representation, warranty or statement of the Servicer made in this Agreement or any
certificate, report or other writing delivered pursuant hereto shall prove to be incorrect in any material respect as of the time when the same shall have been made, and the incorrectness of such representation, warranty or statement has a material
adverse effect on the Trust or the Noteholders and, within 30 days after knowledge thereof by the Servicer or after written notice thereof shall have been given to the Servicer by the Trust Collateral Agent, the circumstances or condition in respect
of which such representation, warranty or statement was incorrect shall not have been eliminated or otherwise cured. 
 SECTION 9.2.
Consequences of a Servicer Termination Event. If a Servicer Termination Event shall occur and be continuing, the Trust Collateral Agent may, or at the direction of the Majority Noteholders shall, by notice given in writing to the Servicer
(and to the Trust Collateral Agent if given by the Noteholders) terminate all of the rights and obligations of the Servicer under this Agreement. On or after the receipt by the Servicer of such written notice or upon termination of the term of the
Servicer, all authority, power, obligations and responsibilities of the Servicer under this Agreement, whether with respect to the Notes, the Certificate or the Other Conveyed Property or otherwise, shall pass to, be vested in and become obligations
and responsibilities of the successor Servicer appointed by the Majority Noteholders; provided, however, that the successor Servicer shall have no liability with respect to any obligation which was required to be performed by the terminated
Servicer prior to the date that the successor Servicer becomes the Servicer or any claim of a third party based on any alleged action or inaction of the terminated Servicer. The successor Servicer is authorized and empowered by this Agreement to
execute and deliver, on behalf of the terminated Servicer, as attorney-in-fact or otherwise, any and all documents and other instruments and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice
of termination, whether to complete the transfer and endorsement of the Receivables and the Other Conveyed Property and related documents to show the Trust as lienholder or secured party on the related Lien Certificates, or otherwise. The terminated
Servicer agrees to cooperate with the successor Servicer in effecting the termination of the responsibilities and rights of the terminated Servicer under this Agreement, including, without limitation, the transfer to the successor Servicer for
administration by it of all cash amounts that shall at the time be held by the terminated Servicer for deposit, or have been deposited by the terminated Servicer, in the Collection Account or thereafter received with respect to the Receivables and
the delivery to the successor Servicer of all Receivable Files, Monthly Records and Collection Records and a computer tape in readable form as of the most recent Business Day containing all information necessary to enable the successor Servicer to
service the Receivables and the Other Conveyed Property. If requested by the Controlling Party (acting at the written direction of the Majority Noteholders), the successor Servicer shall terminate the Lockbox Agreements and direct the Obligors to
make all payments under the Receivables directly to the successor Servicer (in which event the successor Servicer shall process such payments in accordance with Section 4.2(e)), or to a lockbox established by the successor Servicer at the
direction of the Majority Noteholders, at the successor Servicer’s expense. The terminated Servicer shall grant the Trust Collateral Agent, the successor Servicer and the Majority Noteholders reasonable access to the terminated Servicer’s
premises at the terminated Servicer’s expense. 

  
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 SECTION 9.3. Appointment of Successor. 

(a) On and after the time the Servicer receives a notice of termination pursuant to Section 9.2 or upon the resignation of the Servicer
pursuant to Section 8.6, the Controlling Party (acting at the written direction of the Majority Noteholders) shall appoint an eligible servicer as successor Servicer or may petition a court of competent jurisdiction to appoint a Person that it
determines is competent to perform the duties of the Servicer hereunder as successor Servicer. Pending appointment pursuant to the preceding sentence, the outgoing Servicer shall continue to act as Servicer until a successor has been appointed and
accepted such appointment. Any successor Servicer shall be the successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all
the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated herein. The Trust Collateral Agent and such
successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to termination under Section 9.2 upon the
occurrence of any Servicer Termination Event applicable to it as Servicer. If no Person has accepted its appointment as successor Servicer when the predecessor Servicer ceases to act as Servicer in accordance with Section 9.2 or
Section 8.6, the Trust Collateral Agent or other eligible successor servicer appointed by the Trust Collateral Agent and who has accepted such appointment, will, without further action, be automatically appointed the successor Servicer.
Notwithstanding the above, if the Trust Collateral Agent is unwilling or legally unable to act as successor Servicer, it may appoint, or petition a court of competent jurisdiction to appoint, an institution whose business includes the servicing of
motor vehicle receivables, as successor Servicer. All reasonable costs and expenses incurred in connection with transferring the servicing of the Receivables to the successor Servicer and amending this agreement to reflect such succession as
Servicer pursuant to this Section shall be paid by the predecessor Servicer upon presentation of reasonable documentation of such costs and expenses. The Trust Collateral Agent will be released from its duties and obligations as successor Servicer
on the date that a new servicer agrees to appointment as successor Servicer hereunder. 
 (b) Any successor Servicer shall be entitled to
such compensation (whether payable out of the Collection Account or otherwise) as the Servicer would have been entitled to under this Agreement if the Servicer had not resigned or been terminated hereunder or such additional compensation as the
Majority Noteholders and such successor Servicer may agree on. 
 SECTION 9.4. Notification to Noteholders. Upon any termination of,
or appointment of a successor to, the Servicer, the Trust Collateral Agent shall give prompt written notice thereof to each Noteholder and to the Seller (who shall promptly deliver such notice to the Rating Agencies). 

SECTION 9.5. Waiver of Past Defaults. The Majority Noteholders may, on behalf of all Noteholders, waive any default by the Servicer in
the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease 

  
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to exist, and any Servicer Termination Event arising therefrom shall be deemed to have been remedied for every purpose of this Agreement and the Basic Documents. No such waiver shall extend to
any subsequent or other default or impair any right consequent thereto. 
 ARTICLE X 

Termination 
 SECTION
10.1. Optional Purchase of All Receivables. 
 (a) Subject to Section 10.1(a) of the Indenture, on the last day of any
Collection Period as of which the Pool Balance shall be less than or equal to 10% of the Original Pool Balance, the Servicer and the Seller each shall have the option to purchase the Owner Trust Estate, other than the Trust Accounts; provided,
however, that the amount to be paid for such purchase (as set forth in the following sentence) shall be sufficient to pay the full amount of principal, and interest then due and payable on the Notes. To exercise such option, the Servicer or the
Seller, as the case may be, shall deposit pursuant to Section 5.6 in the Collection Account an amount equal to the greater of (i) the amount necessary to pay the full amount of principal and interest then due and payable on the Notes and
(ii) the aggregate Purchase Amount for the Receivables (including Liquidated Receivables), plus the appraised value of any other property held by the Trust, (such value to be determined by the Servicer, or if the Trust Collateral Agent has
received written notice that there is a material error in the Servicer’s calculation, by an appraiser mutually agreed upon by the Servicer and the Trust Collateral Agent), and shall succeed to all interests in and to the Trust. 

(b) Upon any sale of the assets of the Trust pursuant to Section 8.1 of the Trust Agreement, the Servicer shall instruct the Trust
Collateral Agent to deposit the proceeds from such sale after all payments and reserves therefrom (including the expenses of such sale) have been made (the “Insolvency Proceeds”) in the Collection Account. 

(c) Notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee, the Trustee, the Trust Collateral Agent and
the Rating Agencies as soon as practicable after the Servicer has received notice thereof. 
 (d) Following the satisfaction and discharge
of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholder will succeed to the rights of the Noteholders hereunder and the Certificateholder will succeed to the rights of, and assume the obligations
of, the Trust Collateral Agent pursuant to this Agreement. 
 ARTICLE XI 

Administrative Duties of the Servicer 

SECTION 11.1. Administrative Duties. 

(a) Duties with Respect to the Indenture. The Servicer shall perform all its duties and the duties of the Issuer under the Indenture.
In addition, the Servicer shall consult with the Owner Trustee as the Servicer deems appropriate regarding the duties of the Issuer under the Indenture. 

  
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The Servicer shall monitor the performance of the Issuer and shall advise the Owner Trustee when action is necessary to comply with the Issuer’s duties under the Indenture. The Servicer
shall prepare for execution by the Issuer or shall cause the preparation by other appropriate Persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the Issuer to prepare, file or deliver
pursuant to the Indenture. In furtherance of the foregoing, the Servicer shall take all necessary action that is the duty of the Issuer to take pursuant to the Indenture, including, without limitation, pursuant to Sections 2.7, 3.5, 3.6, 3.7, 3.9,
3.10, 3.17, 5.1, 5.4, 6.9, 7.3, 8.2, 9.2, 9.3, 11.1 and 11.15 of the Indenture. 
 (b) Duties with Respect to the Issuer. 

(i) In addition to the duties of the Servicer set forth in this Agreement or any of the Basic Documents, the Servicer shall
perform such calculations and shall prepare for execution by the Issuer or the Owner Trustee or shall cause the preparation by other appropriate Persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be
the duty of the Issuer or the Owner Trustee to prepare, file or deliver pursuant to this Agreement or any of the Basic Documents or under state and federal tax and securities laws (including any filings required pursuant to the Sarbanes-Oxley Act of
2002 or any rule or regulation promulgated thereunder), and at the request of the Owner Trustee shall take all appropriate action that it is the duty of the Issuer to take pursuant to this Agreement or any of the Basic Documents, including, without
limitation, pursuant to Sections 2.6 and 2.11 of the Trust Agreement. In accordance with the directions of the Issuer or the Owner Trustee, the Servicer shall administer, perform or supervise the performance of such other activities in connection
with the Collateral (including the Basic Documents) as are not covered by any of the foregoing provisions and as are expressly requested by the Issuer or the Owner Trustee and are reasonably within the capability of the Servicer. The Servicer shall
monitor the activities of the Issuer to ensure the Issuer’s compliance with Section 4.6 of the Trust Agreement and shall take all action necessary to ensure that the Issuer is operated in accordance with the provisions of such section.

 (ii) Notwithstanding anything in this Agreement or any of the Basic Documents to the contrary, the Servicer shall be
responsible for promptly notifying the Owner Trustee and the Trust Collateral Agent in the event that any withholding tax is imposed on the Issuer’s payments (or allocations of income) to a Holder (as defined in the Trust Agreement) as
contemplated by this Agreement. Any such notice shall be in writing and specify the amount of any withholding tax required to be withheld by the Owner Trustee or the Trust Collateral Agent pursuant to such provision. 

(iii) Notwithstanding anything in this Agreement or the Basic Documents to the contrary, the Servicer shall be responsible for
performance of the duties of the Issuer in accordance with Section 10.11 of the Trust Agreement with respect to, among other things, tax reporting and returns, accounting and reports to Holders (as defined in the Trust Agreement); provided,
however, that once prepared by the Servicer, the Owner Trustee shall retain responsibility for the distribution of any necessary Schedule K-1s, as applicable, to enable the Certificateholder to prepare its federal and state income tax returns.

  
 66 

 (iv) The Servicer shall perform the duties of the Servicer specified in
Section 9.2 of the Trust Agreement required to be performed in connection with the resignation or removal of the Owner Trustee, the duties of the Servicer specified in Section 10.11 of the Trust Agreement, and any other duties expressly
required to be performed by the Servicer under this Agreement or any of the Basic Documents. 
 (v) In carrying out the
foregoing duties or any of its other obligations under this Agreement, the Servicer 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 Servicer’s opinion, no less favorable to the Issuer in any material respect. 

(c) Tax Matters. The Servicer shall prepare and file, on behalf of the Seller, all tax returns, tax elections, financial statements and
such annual or other reports attributable to the activities engaged in by the Issuer as are necessary for preparation of tax reports, including without limitation forms 1099. All tax returns will be signed by the Seller or the Servicer. 

(d) Non-Ministerial Matters. With respect to matters that in the reasonable judgment of the Servicer are non-ministerial, the Servicer
shall not take any action pursuant to this Article unless within a reasonable time before the taking of such action, the Servicer shall have notified the Owner Trustee and the Trustee of the proposed action and the Owner Trustee (acting at the
direction of the Certificateholder) and, with respect to items (i), (ii), (iii) and (iv) below, the Trustee shall not have withheld consent. For the purpose of the preceding sentence, “non-ministerial matters” shall include: 

(i) the amendment of or any supplement to the Indenture; 

(ii) the initiation of any claim or lawsuit by the Issuer and the compromise of any action, claim or lawsuit brought by or
against the Issuer (other than in connection with the collection of the Receivables); 
 (iii) the amendment, change or
modification of this Agreement or any of the Basic Documents; 
 (iv) the appointment of successor Note Registrars, successor
Paying Agents and successor Trustees pursuant to the Indenture or the appointment of successor Servicers or the consent to the assignment by the Note Registrar, Paying Agent or Trustee of its obligations under the Indenture; and 

(v) the removal of the Trustee or the Trust Collateral Agent. 

(e) Exceptions. Notwithstanding anything to the contrary in this Agreement, except as expressly provided herein or in the other Basic
Documents, the Servicer, in its capacity hereunder, shall not be obligated to, and shall not, (i) make any payments to the Noteholders or the Certificateholder under the Basic Documents, (ii) sell the Trust Property pursuant to
Section 5.5 of the Indenture, (iii) take any other action that the Issuer directs the Servicer not to take on its behalf or (iv) in connection with its duties hereunder assume any indemnification obligation of any other Person. 

(f) No successor Servicer shall be responsible for any obligations or duties of the Servicer under this Section 11.1. Notwithstanding the
foregoing or any other provision of this Agreement, AmeriCredit shall continue to perform the obligations of the Servicer under this Section 11.1. 

  
 67 

 SECTION 11.2. Records. The Servicer shall maintain appropriate books of account and
records relating to services performed under this Agreement, which books of account and records shall be accessible for inspection by the Issuer at any time during normal business hours. 

SECTION 11.3. Additional Information to be Furnished to the Issuer. The Servicer shall furnish to the Issuer from time to time such
additional information regarding the Collateral as the Issuer shall reasonably request. 
 SECTION 11.4. Review Reports. Upon the
request of any Noteholder to the Servicer for a copy of any Review Report (as defined in the Asset Representations Review Agreement), the Servicer shall promptly provide a copy of such Review Report to such Noteholder; provided, that if the
requesting Noteholder is not a Noteholder of record, such Noteholder must provide the Servicer with a written certification stating that it is a beneficial owner of a Note, together with supporting documentation supporting that statement (which may
include, but is not limited to, a trade confirmation, an account statement or a letter from a broker or dealer verifying ownership) before the Servicer delivers such Review Report to such Noteholder; provided, further, that such Review Report
contains personally identifiable information regarding Obligors, then the Servicer may condition its delivery of that portion of the Review Report to the requesting Noteholder on such Noteholder’s delivery to the Servicer of an agreement
acknowledging that such Noteholder may use such information only for the limited purpose of assessing the nature of the related breaches of representations and warranties and may not use that information for any other purpose. 

ARTICLE XII 
 Miscellaneous
Provisions 
 SECTION 12.1. Amendment. 

(a) This Agreement may be amended from time to time by the parties hereto, with the consent of the Trustee (which consent may not be
unreasonably withheld) but without the consent of any of the Noteholders, to cure any ambiguity, to correct or supplement any provisions in this Agreement, to comply with any changes in the Code, or to make 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, as evidenced by an Opinion of Counsel delivered to Owner Trustee and the
Trustee, adversely affect in any material respect the interests of any Noteholder. 
 (b) This Agreement may also be amended from time to
time by the parties hereto, with the consent of the Trustee, and with the consent of the Holders of Notes evidencing not less than a majority of the outstanding principal amount of the Notes for the purpose of adding any provisions to or changing in
any manner or eliminating any of the provisions of this Agreement or 

  
 68 

 
of modifying in any manner the rights of the Noteholders; provided, however, that no such amendment shall (i) increase or reduce in any manner the amount of, or accelerate or delay
the timing of, collections of payments on Receivables or distributions that shall be required to be made for the benefit of the Noteholders or (ii) reduce the aforesaid percentage of the outstanding principal amount of the Notes, the Holders of
which are required to consent to any such amendment, without the consent of the Holders of all the outstanding Notes of each class affected thereby. 

Promptly after the execution of any such amendment or consent, the Trust Collateral Agent shall furnish written notification of the substance
of such amendment or consent to each Noteholder and the Seller (who shall deliver such notification to the Rating Agencies). 
 It shall not
be necessary for the consent of the Noteholders pursuant to this Section to approve the particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining
such consents (and any other consents of Noteholders provided for in this Agreement) and of evidencing the authorization of any action by Noteholders shall be subject to such reasonable requirements as the Trustee or the Issuer, as applicable, may
prescribe. 
 (c) Prior to the execution of any amendment to this Agreement, the Owner Trustee, the Trustee and the Trust Collateral Agent
shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and, with respect to any amendment to this Agreement pursuant to
Section 12.1(b), the Opinion of Counsel referred to in Section 12.2(h)(i) has been delivered. The Owner Trustee, the Trust Collateral Agent and the Trustee may, but shall not be obligated to, enter into any such amendment which affects the
Issuer’s, the Owner Trustee’s, the Trust Collateral Agent’s or the Trustee’s, as applicable, own rights, duties or immunities under this Agreement or otherwise. 

SECTION 12.2. Protection of Title to Trust. 

(a) The Seller shall execute and file such financing statements and cause to be executed and filed such continuation statements, all in such
manner and in such places as may be required by law fully to preserve, maintain and protect the interest of the Issuer and the interests of the Trust Collateral Agent in the Receivables and in the proceeds thereof. The Seller shall deliver (or cause
to be delivered) to the Owner Trustee and the Trust Collateral Agent file-stamped copies of, or filing receipts for, any document filed as provided above, as soon as available following such filing. 

(b) Neither the Seller nor the Servicer shall change its name, identity or corporate structure in any manner that would, could or might make
any financing statement or continuation statement filed in accordance with paragraph (a) above seriously misleading within the meaning of 9-506 of the UCC, unless it shall have given the Owner Trustee, the Trust Collateral Agent and the Trustee
at least five days’ prior written notice thereof and shall have promptly filed appropriate amendments to all previously filed financing statements or continuation statements. Promptly upon such filing, the Seller or the Servicer, as the case
may be, shall deliver an Opinion of Counsel in form and substance reasonably satisfactory to the Trust Collateral Agent, stating 

  
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either (i) all financing statements and continuation statements have been executed and filed that are necessary fully to preserve and protect the interest of the Trust and the Trust
Collateral Agent in the Receivables, and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (ii) no such action shall be necessary to preserve and protect such interest. 

(c) Each of the Seller and the Servicer shall have an obligation to give the Owner Trustee, the Trust Collateral Agent and the Trustee at
least 60 days’ prior written notice of any relocation of its principal executive office or jurisdiction of organization if, as a result of such relocation, the applicable provisions of the UCC would require the filing of any amendment of any
previously filed financing or continuation statement or of any new financing statement and shall promptly file any such amendment or new financing statement. The Servicer shall at all times maintain (i) each office from which it shall service
Receivables within the United States of America or Canada, and (ii) its principal executive office within the United States of America. 

(d) The Servicer shall maintain accounts and records as to each Receivable accurately and in sufficient detail to permit (i) the reader
thereof to know at any time the status of such Receivable, including payments and recoveries made and payments owing (and the nature of each) and (ii) reconciliation between payments or recoveries on (or with respect to) each Receivable and the
amounts from time to time deposited in the Collection Account in respect of such Receivable. 
 (e) The Servicer shall maintain its computer
systems so that, from and after the time of sale under this Agreement of the Receivables to the Issuer, the Servicer’s master computer records (including any backup archives) that refer to a Receivable shall indicate clearly the interest of the
Trust in such Receivable and that such Receivable is owned by the Trust. Indication of the Trust’s interest in a Receivable shall be deleted from or modified on the Servicer’s computer systems when, and only when, the related Receivable
shall have been paid in full or repurchased or sold pursuant to this Agreement. 
 (f) If at any time the Seller or the Servicer shall
propose to sell, grant a security interest in or otherwise transfer any interest in automotive receivables to any prospective purchaser, lender or other transferee, the Servicer shall give to such prospective purchaser, lender or other transferee
computer tapes, records or printouts (including any restored from backup archives) that, if they shall refer in any manner whatsoever to any Receivable, shall indicate clearly that such Receivable has been sold and is owned by the Trust. 

(g) Upon request, the Servicer shall furnish to the Owner Trustee or to the Trustee, within five Business Days, a list of all Receivables (by
contract number and name of Obligor) then held as part of the Trust, together with a reconciliation of such list to the Schedule of Receivables and to each of the Servicer’s Certificates furnished before such request indicating removal of
Receivables from the Trust. 
 (h) The Servicer shall deliver to the Owner Trustee and the Trustee: 

(i) promptly after the execution and delivery of the Agreement and, if required pursuant to Section 12.1, of each
amendment, an Opinion of Counsel stating 

  
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that, in the opinion of such Counsel, either (A) all financing statements and continuation statements have been executed and filed that are necessary fully to preserve and protect the
interest of the Trust and the Trust Collateral Agent in the Receivables, and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (B) no such action shall be necessary to preserve
and protect such interest; and 
 (ii) within 120 days after the beginning of each calendar year, beginning with the first
calendar year beginning more than six months after the Closing Date, an Opinion of Counsel, dated as of a date during such 120-day period, stating that, in the opinion of such counsel, either (A) all financing statements and continuation
statements have been executed and filed that are necessary fully to preserve and protect the interest of the Trust and the Trust Collateral Agent in the Receivables, and reciting the details of such filings or referring to prior Opinions of Counsel
in which such details are given, or (B) no such action shall be necessary to preserve and protect such interest. 
 Each Opinion of
Counsel referred to in clause (i) or (ii) above shall specify any action necessary (as of the date of such opinion) to be taken in the following year to preserve and protect such interest. 

SECTION 12.3. Notices. 

(a) All demands, notices and communications upon or to the Seller, the Servicer, the Owner Trustee, the Trustee or the Rating Agencies (upon
whom any demands, notices or communications shall be provided only by the Seller or the Servicer) under this Agreement shall be in writing, personally delivered, electronically delivered, mailed by certified mail, return receipt requested, federal
express or similar overnight courier service, and shall be deemed to have been duly given upon receipt (i) in the case of the Seller, to AFS SenSub Corp., 2215-B Renaissance Drive, Suite 10, Las Vegas, Nevada 89119, Attention: Chief Financial
Officer, with a copy to AFS SenSub Corp., c/o AmeriCredit Financial Services, Inc., 801 Cherry Street, Suite 3500, Fort Worth, Texas 76102, Attention: Chief Financial Officer, (ii) in the case of the Servicer, to AmeriCredit Financial Services,
Inc., 801 Cherry Street, Suite 3500, Fort Worth, Texas 76102, Attention: Chief Financial Officer, (iii) in the case of the Issuer or the Owner Trustee, at the Corporate Trust Office of the Owner Trustee, (iv) in the case of the Trustee or
the Trust Collateral Agent, at the applicable Corporate Trust Office of the Trustee and the Trust Collateral, (v) in the case of Moody’s, to Moody’s Investors Service, Inc., 7 World Trade Center at 250 Greenwich Street, Asset Finance
Group, 24th floor, New York, New York 10007, (vi) in the case of Standard & Poor’s, via electronic delivery to Servicer_reports@sandp.com; for any information not available in electronic format, hard copies should be sent to
Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business, 55 Water Street, 41st floor, New York, New York 10041-0003, Attention: ABS Surveillance Group, and (vii) Asset Representations
Reviewer, to Clayton Fixed Income Services LLC, 1700 Lincoln Street, Suite 2600, Denver, Colorado 80203, Attn: SVP, Surveillance, with a copy to Clayton Fixed Income Services LLC, c/o Clayton Holdings LLC, 100 Beard Sawmill Road, Shelton,
Connecticut 06484, Attn: General Counsel. Any notice required or permitted to be mailed to a Noteholder shall be given by first class mail, postage prepaid, at the address of such Holder as shown in the Note Register. Any notice so mailed within the
time prescribed in the Agreement shall be conclusively presumed to 

  
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have been duly given, whether or not the Noteholder shall receive such notice. Where this Agreement provides for notice or delivery of documents to the Rating Agencies, failure to give such
notice or deliver such documents shall not affect any other rights or obligations created hereunder. 
 (b) If AmeriCredit is no longer the
Servicer, any successor Servicer shall provide any required Rating Agency notices to the Seller, who shall promptly provide such notice to the Rating Agencies. 

SECTION 12.4. Assignment. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective
successors and permitted assigns. Notwithstanding anything to the contrary contained herein, except as provided in Sections 7.4 and 8.3 and as provided in the provisions of this Agreement concerning the resignation of the Servicer, this Agreement
may not be assigned by the Seller or the Servicer without the prior written consent of the Owner Trustee, the Trust Collateral Agent, the Trustee and the Majority Noteholders. 

SECTION 12.5. Limitations on Rights of Others. The provisions of this Agreement are solely for the benefit of the parties hereto, the
Trustee, the Owner Trustee and the Noteholders, as third-party beneficiaries. Nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in the Owner Trust
Estate or under or in respect of this Agreement or any covenants, conditions or provisions contained herein. 
 SECTION 12.6.
Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

SECTION 12.7. Separate Counterparts. This Agreement may be executed by the parties hereto in separate counterparts, each of which when
so executed and delivered shall be an original regardless of whether delivered in physical or electronic form, but all such counterparts shall together constitute but one and the same instrument. 

SECTION 12.8. Headings. The headings of the various Articles and Sections herein are for convenience of reference only and shall not
define or limit any of the terms or provisions hereof. 
 SECTION 12.9. Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH, AND THIS AGREEMENT AND ALL MATTERS ARISING OUT OF OR RELATING IN ANY WAY TO THIS AGREEMENT SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTIONS 5-1401
AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 
 SECTION 12.10. Assignment to Trust Collateral Agent. The Seller hereby
acknowledges and consents to any mortgage, pledge, assignment and grant of a security interest 

  
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by the Issuer to the Trust Collateral Agent pursuant to the Indenture for the benefit of the Noteholders of all right, title and interest of the Issuer in, to and under the Receivables listed in
Schedule A hereto and/or the assignment of any or all of the Issuer’s rights and obligations hereunder to the Trust Collateral Agent. 

SECTION 12.11. Nonpetition Covenants. 

(a) Notwithstanding any prior termination of this Agreement, the Servicer and the Seller shall not, prior to the date which is one year and
one day after the termination of this Agreement with respect to the Issuer, acquiesce, petition or otherwise invoke or cause the Issuer to invoke the process of any court or government authority for the purpose of commencing or sustaining a case
against the Issuer under any federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuer or any substantial part of its property, or
ordering the winding up or liquidation of the affairs of the Issuer. 
 (b) Notwithstanding any prior termination of this Agreement, the
Servicer shall not, prior to the date that is one year and one day after the termination of this Agreement with respect to the Seller, acquiesce to, petition or otherwise invoke or cause the Seller to invoke the process of any court or government
authority for the purpose of commencing or sustaining a case against the Seller under any federal or state bankruptcy, insolvency or similar law, appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator, or other similar
official of the Seller or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Seller. 

SECTION 12.12. Limitation of Liability of Owner Trustee and Trust Collateral Agent 

(a) It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by Wilmington Trust
Company, not individually or personally but solely as trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it, (ii) 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 Company but is made and intended for the purpose of binding only the Issuer, (iii) nothing herein contained shall be construed as
creating any liability on Wilmington Trust Company, 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, (iv) Wilmington Trust Company has made no investigation as to the accuracy or completeness of any representations or warranties made by the Issuer in this Agreement and (v) under no circumstances
shall Wilmington Trust Company 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. 
 (b) Notwithstanding anything contained herein to the contrary, this Agreement has been
executed and delivered by Citibank, N.A., not in its individual capacity but solely as Trust Collateral Agent and in no event shall Citibank, N.A. have any liability for the representations, warranties, covenants, agreements or other obligations of
the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer. 

  
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 (c) In no event shall Citibank, N.A., in any of its capacities hereunder, be deemed to have
assumed any duties of the Owner Trustee under the Delaware Statutory Trust Statute, common law, or the Trust Agreement or of the Servicer hereunder (unless it is acting as successor Servicer hereunder or is recording, registering, filing,
re-recording, re-filing, or re-registering any financing statement, continuation statement or other instrument required by the Trust Collateral Agent pursuant to Section 3.5 of the Indenture or is taking any action to perfect or re-perfect the
security interests in the financed vehicles pursuant to Section 4.5(b)). 
 (d) The Trustee and the Trust Collateral Agent have the
same rights, protections and immunities hereunder as they have under the Indenture as if such rights, protections and immunities were expressly set forth herein mutatis mutandis. 

SECTION 12.13. Trust Collateral Agent to Report Repurchase Demands due to Breaches of Representations and Warranties (a). The Trust
Collateral Agent will (a) notify the Servicer, AmeriCredit and the Seller, as soon as practicable and in any event within five Business Days and in the manner set forth for providing notices hereunder, of all demands or requests communicated
(in writing or orally) to the Trustee or the Trust Collateral Agent for the repurchase of any Receivable pursuant to Section 5.1 of the Purchase Agreement or Section 3.2, (b) promptly upon request by the Servicer, AmeriCredit or the
Seller, provide to them any other information reasonably requested to facilitate compliance by them with Rule 15Ga-1 under the Exchange Act and Items 1104(e) and 1121(c) of Regulation AB, and (c) if requested by the Servicer, AmeriCredit or the
Seller, provide a written certification no later than fifteen days following any calendar quarter or calendar year that Citibank, N.A. has not received any repurchase demands for such period, or if repurchase demands have been received during such
period, that the Trust Collateral Agent has provided all the information reasonably requested under clause (b) above with respect to such demands. In no event will the Trust Collateral Agent or the Issuer have any responsibility or liability in
connection with any filing required to be made by a securitizer under the Exchange Act or Regulation AB. 
 SECTION 12.14. Independence
of the Servicer. For all purposes of this Agreement, the Servicer shall be an independent contractor and shall not be subject to the supervision of the Issuer, the Trust Collateral Agent, the Trustee or the Owner Trustee with respect to the
manner in which it accomplishes the performance of its obligations hereunder. Unless expressly authorized by this Agreement or any other Basic Document, the Servicer shall have no authority to act for or represent the Issuer or the Owner Trustee in
any way and shall not otherwise be deemed an agent of the Issuer or the Owner Trustee. 
 SECTION 12.15. No Joint Venture. Nothing
contained in this Agreement (a) shall constitute the Servicer and any of the Issuer, the Trustee, the Trust Collateral Agent or the Owner Trustee as members of any partnership, joint venture, association, syndicate, unincorporated business or
other separate entity, (b) shall be construed to impose any liability as such on any of them or (c) 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. 

  
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 SECTION 12.16. State Business Licenses. The Servicer or the Certificateholder shall
prepare and instruct the Trust to file each state business license (and any renewal thereof) required to be filed under applicable state law without further consent or instruction from the Instructing Party (as defined in the Trust Agreement),
including a Sales Finance Company Application (and any renewal thereof) with the Pennsylvania Department of Banking, Licensing Division, and a Financial Regulation Application (and any renewal thereof) with the Maryland Department of Labor,
Licensing and Regulation. 
 SECTION 12.17. Submission to Jurisdiction; Waiver of Jury Trial. Each of the parties hereto hereby
irrevocably and unconditionally: 
 (a) submits for itself and its property in any legal action relating to this Agreement, the Basic
Documents or any other documents executed and delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts of the State of New York, the courts of the
United States of America for the Southern District of New York and appellate courts from any thereof; 
 (b) consents that any such action
may be brought in such courts and waives any objection that it may now or hereafter have to the venue of such action in any such court or that such action was brought in an inconvenient court and agrees not to plead or claim the same; and 

(c) waives, to the fullest extent permitted by law, any and all right to trial by jury in any legal proceeding arising out of or relating to
this Agreement, the Basic Documents or the transactions contemplated hereby. 
 [Remainder of Page Intentionally Left Blank] 

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

			
	AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2016-2
	
	By: WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee on behalf of the Trust.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 AFS SENSUB CORP.,

Seller,

		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 AMERICREDIT FINANCIAL SERVICES, INC.,

as Servicer,

		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 CITIBANK, N.A.,
 not in its
individual capacity but solely as Trust Collateral Agent

		
	By:	 	  

	Name:	 	
	Title:	 	

 [Signature Page to Sale and Servicing Agreement] 

 SCHEDULE A 

SCHEDULE OF RECEIVABLES 

[On file with AmeriCredit, the Trustee and Katten Muchin Rosenman LLP] 

  
 SCH-A-1 

 SCHEDULE B-1 

REPRESENTATIONS AND WARRANTIES OF THE SELLER AND THE SERVICER 

REGARDING THE RECEIVABLES 

1. Characteristics of Receivables. Each Receivable (A) was originated (i) by AmeriCredit or (ii) by a Dealer and
purchased by AmeriCredit from such Dealer under an existing Dealer Agreement or pursuant to a Dealer Assignment with AmeriCredit and was validly assigned by such Dealer to AmeriCredit pursuant to a Dealer Assignment, (B) was originated by
AmeriCredit or such Dealer for the retail sale of a Financed Vehicle in the ordinary course of AmeriCredit’s or the Dealer’s business, in each case (i) was originated in accordance with AmeriCredit’s credit policies and
(ii) was fully and properly executed by the parties thereto, and (iii) AmeriCredit and, to the best of the Seller’s and the Servicer’s knowledge, each Dealer had all necessary licenses and permits to originate Receivables in the
state where AmeriCredit or each such Dealer was located, (C) contains customary and enforceable provisions such as to render the rights and remedies of the holder thereof adequate for realization against the collateral security, and
(D) has not been amended or collections with respect to which waived, other than as evidenced in the Receivable File or the Servicer’s electronic records relating thereto. 

2. Compliance with Law. All requirements of applicable federal, state and local laws, and regulations thereunder (including, without
limitation, usury laws, the Federal Truth-in-Lending Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Federal Trade Commission Act, the Magnuson-Moss Warranty Act, the Federal Reserve
Board’s Regulations “B” and “Z” (including amendments to the Federal Reserve’s Official Staff Commentary to Regulation Z, effective October 1, 1998, concerning negative equity loans), the Dodd-Frank Wall Street
Reform and Consumer Protection Act, the Servicemembers Civil Relief Act, each applicable state Motor Vehicle Retail Installment Sales Act, the Gramm-Leach-Bliley Act and state adaptations of the National Consumer Act and of the Uniform Consumer
Credit Code and other consumer credit laws and equal credit opportunity and disclosure laws) in respect of the Receivables and the Financed Vehicles, have been complied with in all material respects. 

3. Binding Obligation. Each Receivable represents the genuine, legal, valid and binding payment obligation of the Obligor thereon,
enforceable by the holder thereof in accordance with its terms, except (A) as enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting the enforcement of creditors’ 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 and (B) as such Receivable may be modified by the application after the Cutoff Date of the
Servicemembers Civil Relief Act, as amended; and, to the best of the Seller’s and the Servicer’s knowledge, all parties to each Receivable had full legal capacity to execute and deliver such Receivable and all other documents related
thereto and to grant the security interest purported to be granted thereby. 
 4. Schedule of Receivables. The information set forth
in the Schedule of Receivables has been produced from the Electronic Ledger and was true and correct in all material respects as of the close of business on the Cutoff Date. 

  
 SCH-B-1 

 5. Marking Records. Each of AmeriCredit and the Seller agree that the Receivables have
been sold to the Trust pursuant to the Sale and Servicing Agreement and Granted to the Trust Collateral Agent pursuant to the Indenture. Further, AmeriCredit has indicated in its computer files that the Receivables are owned by the Trust. 

6. Chattel Paper. The Receivables constitute “tangible chattel paper” or “electronic chattel paper” within the
meaning of the UCC. 
 7. One Original. There is only one original executed copy (or with respect to “electronic chattel
paper”, one authoritative copy) of each Contract. With respect to Contracts that are “electronic chattel paper”, each authoritative copy (a) is unique, identifiable and unalterable (other than with the participation of the Trust
Collateral Agent in the case of an addition or amendment of an identified assignee and other than a revision that is readily identifiable as an authorized or unauthorized revision), (b) has been marked with a legend to the following effect:
“Authoritative Copy” and (c) has been communicated to and is maintained by or on behalf of the Custodian. 
 8. Not an
Authoritative Copy. With respect to Contracts that are “electronic chattel paper”, the Servicer has marked all copies of each such Contract other than an authoritative copy with a legend to the following effect: “This is not an
authoritative copy.” 
 9. Revisions. With respect to Contracts that are “electronic chattel paper”, the related
Receivables have been established in a manner such that (a) all copies or revisions that add or change an identified assignee of the authoritative copy of each such Contract must be made with the participation of the Trust Collateral Agent and
(b) all revisions of the authoritative copy of each such Contract are readily identifiable as an authorized or unauthorized revision. 

10. Pledge or Assignment. With respect to Contracts that are “electronic chattel paper”, the authoritative copy of each
Contract communicated to the Custodian has no marks or notations indicating that it has been pledged, assigned or otherwise conveyed to any Person other than the Trust Collateral Agent. 

11. Receivable Files Complete. There exists a Receivable File pertaining to each Receivable. Related documentation concerning the
Receivable, including any documentation regarding modifications of the Contract, will be maintained electronically by the Servicer in accordance with customary policies and procedures. With respect to any Receivables that are tangible chattel paper,
the complete Receivable File for each Receivable currently is in the possession of the Custodian. 
 12. Receivables in Force. No
Receivable has been satisfied, or, to the best of the Seller’s and the Servicer’s knowledge, subordinated or rescinded, and the Financed Vehicle securing each such Receivable has not been released from the lien of the related Receivable in
whole or in part. No terms of any Receivable have been waived, altered or modified in any respect since its origination, except by instruments or documents identified in the Receivable File or the Servicer’s electronic records. 

13. Good Title. Immediately prior to the conveyance of the Receivables to the Trust pursuant to this Agreement, the Seller was the sole
owner thereof and had good and indefeasible 

  
 SCH-B-2 

 
title thereto, free of any Lien and, upon execution and delivery of this Agreement by the Seller, the Trust shall have good and indefeasible title to and will be the sole owner of such
Receivables, free of any Lien. The Seller has not taken any action to convey any right to any Person that would result in such Person having a right to payments received under the related Insurance Policies or the related Dealer Agreements or Dealer
Assignments or to payments due under such Receivables. No Dealer has a participation in, or other right to receive, proceeds of any Receivable. 

14. Security Interest in Financed Vehicle. Each Receivable created or shall create a valid, binding and enforceable first priority
security interest in favor of AmeriCredit in the Financed Vehicle. The Lien Certificate for each Financed Vehicle shows, or AmeriCredit has commenced procedures that will result in such Lien Certificate which will show, AmeriCredit named (which may
be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) as the original secured party under each Receivable as the holder of a first priority security interest in such Financed Vehicle. Immediately after the
sale, transfer and assignment by the Seller to the Trust, each Receivable will be secured by an enforceable and perfected first priority security interest in the Financed Vehicle in favor of the Trust Collateral Agent as secured party, which
security interest is prior to all other Liens upon and security interests in such Financed Vehicle which now exist or may hereafter arise or be created (except, as to priority, for any lien for taxes, labor or materials affecting a Financed
Vehicle). To the best of the Seller’s and the Servicer’s knowledge, as of the Cutoff Date, there were no Liens or claims for taxes, work, labor or materials affecting a Financed Vehicle which are or may be Liens prior or equal to the Liens
of the related Receivable. 
 15. Receivable Not Assumable. No Receivable is assumable by another Person in a manner which would
release the Obligor thereof from such Obligor’s obligations to the owner thereof with respect to such Receivable. 
 16. No
Defenses. No Receivable is subject to any right of rescission, setoff, counterclaim or defense, including the defense of usury, and the operation of any of the terms of any Receivable, or the exercise of any right thereunder, will not render
such Receivable unenforceable in whole or in part and no such right has been asserted or threatened with respect to any Receivable. 
 17.
No Default. There has been no default, breach, or, to the knowledge of the Seller and Servicer, violation or event permitting acceleration under the terms of any Receivable (other than payment delinquencies of not more than 30 days), and, to
the best of the Seller’s and the Servicer’s knowledge, no condition exists or event has occurred and is continuing that with notice, the lapse of time or both would constitute a default, breach, violation or event permitting acceleration
under the terms of any Receivable, and there has been no waiver of any of the foregoing. 
 18. Insurance. At the time of an
origination of a Receivable by AmeriCredit or a Dealer, each Financed Vehicle is required to be covered by a comprehensive and collision insurance policy, and each Receivable permits the holder thereof to obtain physical loss and damage insurance at
the expense of the Obligor if the Obligor fails to do so. 

  
 SCH-B-3 

 19. Certain Characteristics of the Receivables. 

(A) Each Receivable had a remaining maturity, as of the Cutoff Date, of not less than 3 months and not more than 75 months.

 (B) Each Receivable had an original maturity, as of the Cutoff Date, of not less than 3 months and not more than 75
months. 
 (C) Each Receivable had a remaining Principal Balance, as of the Cutoff Date, of at least $250 and not more than
$85,000. 
 (D) Each Receivable had an Annual Percentage Rate, as of the Cutoff Date, of at least 1% and not more than 33%.

 (E) No Receivable was more than 30 days past due as of the Cutoff Date. 

(F) Each Receivable arose under a Contract that is governed by the laws of the United States or any State thereof. 

(G) Each Obligor had a billing address in the United States as of the date of origination of the related Receivable. 

(H) Each Receivable is denominated in, and each Contract provides for payment in, United States dollars. 

(I) Each Receivable arose under a Contract that is assignable without the consent of, or notice to, the Obligor thereunder, and
does not contain a confidentiality provision that purports to restrict the ability of the Servicer to exercise its rights under the Sale and Servicing Agreement, including, without limitation, its right to review the Contract. Each Receivable
prohibits the sale or transfer of the Financed Vehicle without the consent of the Servicer. 
 (J) Each Receivable arose
under a Contract with respect to which AmeriCredit has performed all obligations required to be performed by it thereunder. 

(K) No automobile related to a Receivable was held in repossession inventory as of the Cutoff Date. 

(L) The Servicer’s records do not indicate that any Obligor was in bankruptcy as of the Cutoff Date. 

(M) No Obligor is the United States of America or any State or any agency, department, subdivision or instrumentality thereof.

 20. Prepayment. Each Receivable allows for prepayment and partial prepayments without penalty. 

  
 SCH-B-4 

 SCHEDULE B-2 

REPRESENTATIONS AND WARRANTIES OF THE SELLER AND THE SERVICER 

REGARDING THE POOL OF RECEIVABLES 

1. Adverse Selection. No selection procedures adverse to the Noteholders were utilized in selecting the Receivables from those
receivables owned by the Seller which met the selection criteria set forth in clauses (A) through (M) of number 19 of Schedule B-1. 

2. All Filings Made. All filings (including, without limitation, UCC filings (including, without limitation, the filing by the Seller
of all appropriate financing statements in the proper filing office in the State of Nevada under applicable law in order to perfect the security interest in the Receivables granted to the Trust hereunder)) required to be made by any Person and
actions required to be taken or performed by any Person in any jurisdiction to give the Trust and the Trust Collateral Agent a first priority perfected lien on, or ownership interest in, the Receivables and the proceeds thereof and the Other
Conveyed Property have been made, taken or performed. 
 3. Consumer Leases. No Receivable in the pool constitutes a “consumer
lease” under either (a) the UCC as in effect in the jurisdiction the law of which governs the Receivable or (b) the Consumer Leasing Act, 15 USC 1667. 

  
 SCH-B-1 

 SCHEDULE C 

SERVICING POLICIES AND PROCEDURES 

Note: Applicable Time Periods Will Vary by State 

Compliance with state collection laws is required of all AmeriCredit Collection Personnel. Additionally, AmeriCredit has chosen to follow the guidelines of
the Federal Fair Debt Collection Practices Act (FDCPA). 
 The Collection Process 

AmeriCredit mails each customer a monthly billing statement 16 to 20 days before payment is due. 

 

	A.	All accounts are issued to the Computer Assisted Collection System (CACS) as early as 5 days delinquent or at such other dates of delinquency as determined by historical payment patterns of the account.

  

	B.	The CACS segregates accounts into two major groups: loans 5-45 days delinquent and those over 45 days delinquent. 

  

	C.	Loans delinquent up to 45 days are then further segregated into two groups: accounts that can be called on the automated dialer and accounts that are called manually. 

 

	D.	Loans up to 45 days delinquent that can be called on the automated dialer are routed through AmeriCredit’s dialing system. The system automatically dials the phone number related to a delinquent account and
transfers it to the next available account representative. 

  

	E.	Loans without good phone numbers are called manually, through the CACS system, or in a preview dialer campaign. 

  

	F.	All reasonable collection efforts are made in an attempt to prevent these accounts from becoming 30+ days delinquent. 

  

	G.	When an account reaches anywhere between 31 and 41 days delinquent, a representative determines if any default notification is required based on state regulations. 

 

	H.	When an account exceeds 45 days delinquent, the loan is assigned to a 46+ collection team which will continue the collection effort until resolution. If the account cannot be resolved through normal collection efforts
(i.e., satisfactory payment arrangements) then the account may be submitted for repossession approval. An officer must approve all repossession requests. 

  

	I.	CACS allows each collector to accurately document and update each customer file when contact (verbal or written) is made. 

  
 SCH-C-1 

 Repossessions 

If repossession of the collateral occurs, the following steps are taken: 
  

	A.	Proper authorities are notified (if applicable). 

  

	B.	An inventory of all personal property is taken and a condition report is prepared on the vehicle. 

  

	C.	Written notification, as required by state law, is sent to the customer(s) stating their rights of redemption or reinstatement along with information on how to obtain any personal property that was in the vehicle at the
time of repossession. 

  

	D.	Written request to the originating dealer for all refunds due for dealer adds is made. 

  

	E.	Collateral disposition through public or private sale, (dictated by state law), in a commercially reasonable manner, through a third-party auto auction. 

 

	F.	After the collateral is liquidated, the debtor(s) is notified in writing of the deficiency balance owed, if any. 

Use of Due Date Changes 
 Due dates may be changed subject
to the following conditions: 
  

	A.	The account is contractually current or will be brought current with the due date change. 

  

	B.	Due date changes cannot exceed the total of 30 days over the life of the contract. 

  

	C.	The first installment payment has been paid in full. 

  

	D.	Only one due date change in a twelve month period. 

 Any exceptions to the above stated policy must be approved
by the appropriate level of authority. 
 Use of Payment Deferments 

A payment deferral is offered to customers who have the desire and capacity to make future payments but who have encountered temporary financial difficulties.

  

	A.	A minimum of six payments have been made on the account and a minimum of six payments have been made since the most recent deferment (if any). 

 

	B.	The account will be brought current with the deferment. 

  

	C.	A deferment fee is collected on accounts where allowed by state law. 

  

	D.	A deferment form is obtained on accounts where required by state law. 

  

	E.	No more than eight total payments may be deferred over the life of the loan. 

  
 SCH-C-2 

 Any exceptions to the above stated policy must be approved by the appropriate level of authority. 

Charge-Offs 
 It is AmeriCredit’s policy that any
account that is not successfully recovered by 120 days delinquent on the last day of the calendar month is submitted to an Officer for approval and charge-off. 

It is AmeriCredit’s policy to carry all Chapter 13 bankruptcy accounts until 120 days delinquent. A partial charge-off is taken for the unsecured portion
of the account. On fully reaffirmed Chapter 7 bankruptcy accounts, the accounts can be deferred current at the time of discharge. 
 Deficiency
Collections 
 Collections on charged-off accounts are continued internally and/or assigned to third-party collection agencies for deficiency balances.

  
 SCH-C-3 

 EXHIBIT A 

SERVICER’S CERTIFICATE 

 Exhibit A 

AmeriCredit Automobile Receivables Trust 2016-2 

Class A-1 .75000% Asset Backed Notes 

Class A-2A 1.42 % Asset Backed Notes 

Class A-2B Floating Rate Asset Backed Notes 

Class A-3 1.60% Asset Backed Notes 

Class B 2.21% Asset Backed Notes 

Class C 2.87% Asset Backed Notes 

Class D 3.65% Asset Backed Notes 

Class E 0.00% Asset Backed Notes 

Servicer’s Certificate 
 This Servicer’s
Certificate has been prepared pursuant to Section 4.9 of the Sale and Servicing Agreement among AmeriCredit Automobile Receivables Trust 2016-2, as Issuer, AmeriCredit Financial Services, Inc., as Servicer, AFS SenSub Corp., as Seller, and
Citibank, N.A., as the Trust Collateral Agent, dated as of April 6, 2016. Defined terms have the meanings assigned to them in the Sale and Servicing Agreement or in other Transaction Documents. 

 

	
	Monthly Period Beginning:
	Monthly Period Ending:
	Prev. Distribution/Close Date:
	Distribution Date:
	Days of Interest for Period:
	Days in Collection Period:
	Months Seasoned:

 

									
	 Purchases
	  	Units	  	Start Date	  	Closing Date	  	Original
Pool Balance
	 Initial Purchase
	  		  		  		  	
		  	  
	  	  
	  	  
	  	  

	 Total
	  		  		  		  	
		  	  
	  	  
	  	  
	  	  

 
 

  

																			
	 I.  
	  		  	 MONTHLY PERIOD RECEIVABLES PRINCIPAL BALANCE CALCULATION:
	   
	 			
						
		  	{1}	  	 Beginning of period Aggregate Principal Balance
	  				 				 	 	             	  
		  		  		  		  				 				 	  
	  
	 
						
		  		  	 Monthly Principal Amounts
	  				 				 			
							
		  		  	    {2}	  	 Collections on Receivables outstanding at end of period
	  	 	{2}	  	 	 	            	  	 			
		  		  		  		  				 	  
	  
	 	 			
		  		  	    {3}	  	 Collections on Receivables paid off during period
	  	 	{3}	  	 				 			
		  		  		  		  				 	  
	  
	 	 			
		  		  	    {4}	  	 Receivables becoming Liquidated Receivables during period
	  	 	{4}	  	 				 			
		  		  		  		  				 	  
	  
	 	 			
		  		  	    {5}	  	 Receivables becoming Purchased Receivables during period
	  	 	{5}	  	 				 			
		  		  		  		  				 	  
	  
	 	 			
		  		  	    {6}	  	 Other Receivables adjustments
	  	 	{6}	  	 				 			
		  		  		  		  				 	  
	  
	 	 			
		  		  	    {7}	  	 Less amounts allocable to Interest
	  	 	{7}	  	 				 			
		  		  		  		  				 	  
	  
	 	 			
							
		  		  	    {8}	  	 Total Monthly Principal Amounts
	  				 				 			
		  		  		  		  				 				 	  
	  
	 
						
		  	{9}	  	 End of period Aggregate Principal Balance
	  				 				 			
		  		  		  		  				 				 	  
	  
	 
						
		  	{10}	  	 Pool Factor
	  				 				 			
		  		  		  		  				 				 	  
	  
	 

																											
								
	 II.
	  		  	 MONTHLY PERIOD NOTE BALANCE CALCULATION:
	   
	 	 	Class A-1	  	 	Class A-2A	 	 	Class A-2B	  	 	 	Class A-3	  	 	 	Class B	  
		  	{11}	  	 Original Note Balance
	  	 	{11}	  	 				 		 	 	            	  	 	 	            	  	 	 	            	  
		  		  		  				 	  
	  
	 	 	  
	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
									
		  	{12}	  	 Beginning of period Note Balance
	  	 	{12}	  	 				 		 				 				 			
		  		  		  				 	  
	  
	 	 	  
	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
									
		  	{13}	  	 Noteholders’ Principal Distributable Amount
	  	 	{13}	  	 				 		 				 				 			
		  	{14}	  	 Noteholders’ Accelerated Principal Amount
	  	 	{14}	  	 				 		 				 				 			
		  	{15}	  	 Aggregate Principal Parity Amount
	  	 	{15}	  	 				 		 				 				 			
		  	{16}	  	 Matured Principal Shortfall
	  	 	{16}	  	 				 		 				 				 			
		  		  		  				 	  
	  
	 	 	  
	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
									
		  	{17}	  	 End of period Note Balance
	  	 	{17}	  	 				 		 				 				 			
		  		  		  				 	  
	  
	 	 	  
	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
									
		  	{18}	  	 Note Pool Factors
	  	 	{18}	  	 				 		 				 				 			
		  		  		  				 	  
	  
	 	 	  
	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
		  		  		  				 	 	    	  	 		 				 				 			
		  		  		  				 	  
	  
	 	 	  
	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
									
		  		  		  				 	 	    	  	 		 				 				 			
		  		  		  				 	  
	  
	 	 	  
	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
		  	{19}	  	 Beginning of period Note Balance
	  	 	{19}	  	 				 		 				 				 			
		  		  		  				 	  
	  
	 	 	  
	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
									
		  	{20}	  	 Noteholders’ Principal Distributable Amount
	  	 	{20}	  	 				 		 				 				 			
		  	{21}	  	 Noteholders’ Accelerated Principal Amount
	  	 	{21}	  	 				 		 				 				 			
		  	{22}	  	 Aggregate Principal Parity Amount
	  	 	{22}	  	 				 		 				 				 			
		  	{23}	  	 Matured Principal Shortfall
	  	 	{23}	  	 				 		 				 				 			
		  		  		  				 	  
	  
	 	 	  
	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
									
		  	{24}	  	 End of period Note Balance
	  	 	{24}	  	 				 		 				 				 			
		  		  		  				 	  
	  
	 	 	  
	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
									
		  	{25}	  	 Note Pool Factors
	  	 	{25}	  	 				 		 				 				 			
		  		  		  				 	  
	  
	 	 	  
	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 

  

  
 3 

																					
							
	 III.
	  		  	 CALCULATION OF STEP-DOWN AMOUNT:
	  				 				 				 			
		  	{26}	  	 Ending Pool Balance
	  	 	{26}	  	 				 				 			
		  		  		  				 				 	  
	  
	 	 			
		  	{27}	  	 14.75 % of Ending Aggregate Principal Balance
	  	 	{27}	  	 	 	            	  	 				 			
		  		  		  				 	  
	  
	 	 				 			
		  	{28}	  	 Less Specified Reserve Balance
	  	 	{28}	  	 				 				 			
		  		  		  				 	  
	  
	 	 				 			
		  	{29}	  	 Sum of {27} and {28}
	  	 	{29}	  	 				 				 			
		  		  		  				 	  
	  
	 	 				 			
		  	{30}	  	 Required Pro Forma Note Balance {26} - {29}
	  	 	{30}	  	 				 	 	            	  	 			
		  		  		  				 				 	  
	  
	 	 			
							
		  	 {31}
	  	 Beginning Note Balance
	  	 	{31}	  	 				 				 			
		  		  		  				 	  
	  
	 	 				 			
		  	 {32}
	  	 Total Monthly Principal Amount
	  	 	{32}	  	 				 				 			
		  		  		  				 	  
	  
	 	 				 			
		  	 {33}
	  	 Pro-Forma Note Balance (Assuming 100% Pay-down)
	  	 	{33}	  	 				 				 			
		  		  		  				 				 	  
	  
	 	 			
							
		  	 {34}
	  	 Excess of Required Pro-forma over Pro-forma Balance
	  	 	{34}	  	 				 				 			
		  		  		  				 				 	  
	  
	 	 			
		  	 {35}
	  	 Pool Balance minus Pro-forma Note Balance not less than .50% Original Pool Balance
($        )
	  	 	{35}	  	 				 				 			
		  		  		  				 				 	  
	  
	 	 			
		  	 {36}
	  	 Step-Down Amount Lesser of {34} or {35}
	  	 	{36}	  	 				 				 			
		  		  		  				 				 				 	  
	  
	 
							
	 IV.
	  		  	 CALCULATION OF PRINCIPAL DISTRIBUTABLE AMOUNT:
	  				 				 				 			
		  	 {37}
	  	 Total Monthly Principal Amounts
	  				 	 	{37}	  	 	 	             	  	 			
		  		  		  				 				 	  
	  
	 	 			
		  	 {38}
	  	 Step-down Amount
	  				 	 	{38}	  	 				 			
		  		  		  				 				 	  
	  
	 	 			
		  	 {39}
	  	 Principal Distributable Amount
	  				 	 	{39}	  	 				 	 	             	  
		  		  		  				 				 				 	  
	  
	 
							
	 V.
	  		  	 CALCULATION OF INTEREST DISTRIBUTABLE AMOUNT:
	  				 				 				 			

  

																			
										
	 	  	 	 	 Class
	  	Beginning
Note Balance	  	Interest
Carryover	  	Interest
Rate	  	Days	  	Days Basis	  	Calculated
Interest	  	 
		  	 {40}
	 	Class A - 1	  		  		  		  		  		  		  	
		  	 {41}
	 	Class A - 2A	  		  		  		  		  		  		  	
		  	 {42}
	 	Class A - 2B	  		  		  		  		  		  		  	
		  	 {43}
	 	Class A - 3	  		  		  		  		  		  		  	
		  	 {44}
	 	Class B	  		  		  		  		  		  		  	
		  	 {45}
	 	Class C	  		  		  		  		  		  		  	
		  	 {46}
	 	Class D	  		  		  		  		  		  		  	
		  	 {47}
	 	Class E	  		  		  		  		  		  		  	

  

																			
	 VI.
	 		  	 RECONCILIATION OF COLLECTION ACCOUNT:
	  				 				 			
		 		  	 Available Funds:
	  				 				 			
		 		  	    {48}	  	 Collections on Receivables during period (net of Liquidation Proceeds and Fees)
	  	 	{48}	  	 	 	             	  	 	 	             	  
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {49}	  	 Liquidation Proceeds collected during period
	  	 	{49}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {50}	  	 Purchase Amounts or amounts from Servicer deposited in Collection Account
	  	 	{50}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {51}	  	 Investment Earnings - Collection Account
	  	 	{51}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {52}	  	 From Reserve Acct - Investment Earnings, Reserve Acct Withdrawal, Excess Specified Reserve over
Note Bal
	  	 	{52}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {53}	  	 Collection of Supplemental Servicing - Extension Fees
	  	 	{53}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {54}	  	 Collection of Supplemental Servicing - Repo and Recovery Fees Advanced
	  	 	{54}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {55}	  	 Collection of Supplemental Servicing - Late Fees, Prepayment Penalty Fees & Force Placed
Insurance
	  	 	{55}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {56}	  	 Total Available Funds
	  	 	{56}	  	 				 			
		 		  		  		  				 				 	  
	  
	 
						
		 		  	Distributions:	  				 				 			
		 		  	    {57}	  	 Base Servicing Fee
	  	 	{57}	  	 	 	             	  	 	 	             	  
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {58}	  	 Repo and Recovery Fees - reimbursed to Servicer
	  	 	{58}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {59}	  	 Bank Service Charges - reimbursed to Servicer
	  	 	{59}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {60}	  	 Late Fees, Prepayment Penalty Fees & Force Placed Insurance - to Servicer
	  	 	{60}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {61}	  	 Trustee and Trust Collateral Agent Fees
	  	 	{61}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {62}	  	 Asset Representations Reviewer Fee
	  				 				 			
		 		  	    {63}	  	 Owner Trustee Fee
	  	 	{63}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {64}	  	 Class A-1 Noteholders’ Interest Distributable Amount pari passu
	  	 	{64}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {65}	  	 Class A-2A Noteholders’ Interest Distributable Amount pari passu
	  	 	{65}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {66}	  	 Class A-2B Noteholders’ Interest Distributable Amount pari passu
	  	 	{66}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {67}	  	 Class A-3 Noteholders’ Interest Distributable Amount pari passu
	  	 	{67}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {68}	  	 Class A Noteholders’ Principal Parity Amount or Matured Principal Shortfall
	  	 	{68}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {69}	  	 Class B Noteholders’ Interest Distributable Amount
	  	 	{69}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {70}	  	 Class B Noteholders’ Principal Parity Amount or Matured Principal Shortfall
	  	 	{70}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {71}	  	 Class C Noteholders’ Interest Distributable Amount
	  	 	{71}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {72}	  	 Class C Noteholders’ Principal Parity Amount or Matured Principal Shortfall
	  	 	{72}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {73}	  	 Class D Noteholders’ Interest Distributable Amount
	  	 	{73}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {74}	  	 Class D Noteholders’ Principal Parity Amount or Matured Principal Shortfall
	  	 	{74}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {75}	  	 Class E Noteholders’ Interest Distributable Amount
	  	 	{75}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {76}	  	 Class E Noteholders’ Principal Parity Amount or Matured Principal Shortfall
	  	 	{76}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {77}	  	 Noteholders’ Principal Distributable Amount
	  	 	{77}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {78}	  	 To the Reserve Account, the Reserve Account Deposit
	  	 	{78}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {79}	  	 To the Noteholders, the Accelerated Principal Amount (as calculated below)
	  	 	{79}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {80}	  	 Add’l fees (Trustee, ARR, Owner Trustee, Trust Collateral Agent, Lockbox Bank &
Processor)
	  	 	{80}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
	         
	 	       	  	    {81}	  	 To the Certificateholders, the aggregate amount remaining
	  	 	{81}	  	 				 			
		 		  		  		  				 	  
	  
	 	 			
		 		  	    {82}	  	 Total Distributions
	  	 	{82}	  	 				 			
		 		  		  		  				 				 	  
	  
	 

  
 3 

																	
	 VlI.
	 		  	CALCULATION OF PRINCIPAL PARITY AMOUNT:	  		  	

  

																	
	 	 	 	  	 Class
	  	(X)
Cumulative
Note Balance	  	(Y)
Pool
Balance	  	(I)
Excess of
(X) - (Y)	  	(II)
Available Funds
in Waterfall	  	Lesser of
(I) or (II)	  	 
		 	{83}	  	 Class A
	  		  		  		  		  		  	
		 	{84}	  	 Class B
	  		  		  		  		  		  	
		 	{85}	  	 Class C
	  		  		  		  		  		  	
		 	{86}	  	 Class D
	  		  		  		  		  		  	
		 	{87}	  	 Class E
	  		  		  		  		  		  	
		 	{88}	  	 Total
	  		  		  		  		  		  	

  

																	
	VlII.	 		 	CALCULATION OF ACCELERATED PRINCIPAL AMOUNT:	 				 				 			
		 	 {89}
	 	 Excess Available Funds
	 	 	{89}	  	 	 	            	  	 			
		 		 		 				 	  
	  
	 	 			
		 	 {90}
	 	 Pro-Forma Note Balance (Calculated after Step-Down)
	 	 	{90}	  	 				 			
		 		 		 				 	  
	  
	 	 			
		 	 {91}
	 	 Required Pro Forma Note Balance
	 	 	{91}	  	 				 			
		 		 		 				 	  
	  
	 	 			
		 	 {92}
	 	 Excess of Pro-Forma Balance over Required Pro-Forma Balance
	 	 	{92}	  	 				 			
		 		 		 				 	  
	  
	 	 			
		 	 {93}
	 	 Lesser of Excess Available Funds or Excess of Pro-Forma Note Balance
	 	 	{93}	  	 				 	 	            	  
		 		 		 				 				 	  
	  
	 
						
	IX.	 	 	 	RECONCILIATION OF RESERVE ACCOUNT:	 	 	 	 	 	 	 	Current	 
		 	 {94}
	 	 Specified Reserve Balance
	 				 				 			
		 	 {95}
	 	 Beginning of period Reserve Account balance
	 	 	{95}	  	 				 			
		 		 		 				 				 	  
	  
	 
						
		 	 {96}
	 	 The Reserve Account Deposit, from Collection Account
	 	 	{96}	  	 				 			
		 		 		 				 	  
	  
	 	 			
		 	 {97}
	 	 Investment Earnings
	 	 	{97}	  	 				 			
		 		 		 				 	  
	  
	 	 			
		 	 {98}
	 	 Investment Earnings - transferred to Collection Account Available Funds
	 	 	{98}	  	 				 			
		 		 		 				 	  
	  
	 	 			
		 	 {99}
	 	 Reserve Account Withdrawal Amount
	 	 	{99}	  	 				 			
		 		 		 				 	  
	  
	 	 			
						
		 	 {100}
	 	 End of period Reserve Account balance
	 	 	{100}	  	 				 			
		 		 		 				 				 	  
	  
	 
						
	 X.
	 		 	CALCULATION OF TOTAL OVERCOLLATERALIZATION:	 				 				 			
						
		 	 {101}
	 	 Aggregate Principal Balance
	 	 	{101}	  	 				 			
		 		 		 				 	  
	  
	 	 			
		 	 {102}
	 	 End of Period Note Balance
	 	 	{102}	  	 				 			
		 		 		 				 	  
	  
	 	 			
		 	 {103}
	 	 Overcollateralization
	 	 	{103}	  	 				 			
		 		 		 				 	  
	  
	 	 			
		 	 {104}
	 	 Overcollateralization %
	 	 	{104}	  	 				 			
		 		 		 				 				 	  
	  
	 
				
	 XI.
	 		 	MONTHLY PERIOD AND CUMULATIVE NUMBER OF RECEIVABLES CALCULATION:	  	 			
	 	 	 	 	 	 	 	 	 	Cumulative	 	 	Monthly	 
		 	 {105}
	 	 Original Number of Receivables
	 	 	{105}	  	 				 			
		 		 		 				 	  
	  
	 	 	  
	  
	 
		 	 {106}
	 	 Beginning of period number of Receivables
	 	 	{106}	  	 				 			
		 	 {107}
	 	 Number of Receivables becoming Liquidated Receivables during period
	 	 	{107}	  	 				 			
		 	 {108}
	 	 Number of Receivables becoming Purchased Receivables during period
	 	 	{108}	  	 				 			
		 	 {109}
	 	 Number of Receivables paid off during period
	 	   
	{109}  
	    
	 				 			
		 		 		 				 	  
	  
	 	 	  
	  
	 
		 	 {110}
	 	 End of period number of Receivables
	 	 	{110}	  	 				 			
		 		 		 				 	  
	  
	 	 	  
	  
	 

  

																			
	 XII.
	 		  	STATISTICAL DATA: (CURRENT AND HISTORICAL):	 	
	 	 	 	  	 	  	 	 	 	Original	 	 	Prev. Month	 	Current
		 	{111}	  	 Weighted Average APR of the Receivables
	  	 	{111}	  	 				 		 	
		 	{112}	  	 Weighted Average Remaining Term of the Receivables
	  	 	{112}	  	 				 		 	
		 	{113}	  	 Weighted Average Original Term of Receivables
	  	 	{113}	  	 				 		 	
		 	{114}	  	 Average Receivable Balance
	  	 	{114}	  	 				 		 	
		 	{115}	  	 Net Losses in Period
	  	 	{115}	  	 				 		 	
		 	{116}	  	 Aggregate Realized Losses
	  	 	{116}	  	 				 		 	
		 	{117}	  	 Aggregate Realized Loss Percentage
	  	 	{117}	  	 				 		 	
		 	{118}	  	 ABS Prepay Speed
	  	 	{118}	  	 				 		 	
							
	 XIII.
	 		  	DELINQUENCY:	  				 				 		 	
							
	 	 	 	  	Receivables with Scheduled Payment delinquent	  	 	 	 	Units	 	 	Dollars	 	Percentage
		 		  	    {119}	  	 31-60 days
	  	 	{119}	  	 				 		 	
		 		  	    {120}	  	 61-90 days
	  	 	{120}	  	 				 		 	
		 		  	    {121}	  	 91-120 days
	  	 	{121}	  	 				 		 	
		 		  		  		  				 	  
	  
	 	 	  
	 	  

		 		  	    {122}	  	 Total
	  	 	{122}	  	 				 		 	
		 		  		  		  				 	  
	  
	 	 	  
	 	  

						
	XIV.	 		  	ASSET REPRESENTATIONS REVIEW DELINQUENCY TRIGGER	  	 				 		 	
						
		 	 {123}
	  	 Receivables with Scheduled Payment delinquent 61 days or more
	   
	 	 	{123}	  	 		 	
		 		  		  		  				 				 	  
	 	  

						
		 	 {124}
	  	 Compliance (Trigger Violation is a Delinquency Rate Greater Than
  .  % )
	   
	 	 	{124}	  	 		 	
		 		  		  		  				 				 	  
	 	  

							
	XV.	 		  	EXTENSIONS	  				 				 		 	
								
		 		  	    {125}	  	 Principal Balance of Receivables extended during current period
	  	 	{125}	  	 				 		 	
		 		  		  		  				 				 	  
	 	
		 		  	    {126}	  	 Beginning of Period Aggregate Principal Balance
	  	 	{126}	  	 				 		 	
		 		  		  		  				 				 	  
	 	
		 		  	    {127}	  	 Extension Rate {125} divided by {126}
	  	 	{127}	  	 				 		 	
		 		  		  		  				 				 		 	  

  

			
	By:	 	  

	Name:	 	  

	Title:	 	  

	Date:	 	  

  
 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00256-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00256-of-00352.parquet"}]]