Document:

EX-10.3

 Exhibit 10.3 
 EXECUTION COPY 
  

 
 PURCHASE AGREEMENT

 dated as of March 28, 2013 
 between 
 FIFTH THIRD HOLDINGS, LLC 

and 
 FIFTH
THIRD HOLDINGS FUNDING, LLC 
  
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
			
	 ARTICLE I
	  	 DEFINITIONS AND USAGE
	  	 	1	  
			
	 SECTION 1.1
	  	 Definitions
	  	 	1	  
	 SECTION 1.2
	  	 Other Interpretive Provisions
	  	 	1	  
			
	 ARTICLE II
	  	 PURCHASE
	  	 	2	  
			
	 SECTION 2.1
	  	 Agreement to Sell and Contribute on the Closing Date
	  	 	2	  
	 SECTION 2.2
	  	 Consideration and Payment
	  	 	2	  
			
	 ARTICLE III
	  	 REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	 	2	  
			
	 SECTION 3.1
	  	 Representations and Warranties of FTH LLC
	  	 	2	  
	 SECTION 3.2
	  	 Representations and Warranties of FTH LLC as to each Receivable
	  	 	4	  
	 SECTION 3.3
	  	 Repurchase upon Breach
	  	 	4	  
	 SECTION 3.4
	  	 Protection of Title
	  	 	4	  
	 SECTION 3.5
	  	 Other Liens or Interests
	  	 	5	  
	 SECTION 3.6
	  	 Perfection Representations, Warranties and Covenants
	  	 	5	  
	 SECTION 3.7
	  	 Compliance with the FDIC Rule
	  	 	5	  
	 SECTION 3.8
	  	 Merger or Consolidation of, or Assumption of the Obligations of, FTH LLC
	  	 	6	  
	 SECTION 3.9
	  	 FTH LLC May Own Notes
	  	 	6	  
			
	 ARTICLE IV
	  	 MISCELLANEOUS
	  	 	6	  
			
	 SECTION 4.1
	  	 Transfers Intended as Sale; Security Interest
	  	 	6	  
	 SECTION 4.2
	  	 Notices, Etc
	  	 	7	  
	 SECTION 4.3
	  	 Choice of Law
	  	 	7	  
	 SECTION 4.4
	  	 Headings
	  	 	8	  
	 SECTION 4.5
	  	 Counterparts
	  	 	8	  
	 SECTION 4.6
	  	 Amendment
	  	 	8	  
	 SECTION 4.7
	  	 Waivers
	  	 	9	  
	 SECTION 4.8
	  	 Entire Agreement
	  	 	9	  
	 SECTION 4.9
	  	 Severability of Provisions
	  	 	9	  
	 SECTION 4.10
	  	 Binding Effect
	  	 	9	  
	 SECTION 4.11
	  	 Acknowledgment and Agreement
	  	 	10	  
	 SECTION 4.12
	  	 Cumulative Remedies
	  	 	10	  
	 SECTION 4.13
	  	 Nonpetition Covenant
	  	 	10	  
	 SECTION 4.14
	  	 Submission to Jurisdiction; Waiver of Jury Trial
	  	 	10	  

  

					
		  	i	  	Purchase Agreement (2013-A)

 TABLE OF CONTENTS 

(continued) 
  

 EXHIBITS 

 

			
	Exhibit A	  	Form of Assignment Pursuant to Purchase Agreement
	Schedule I	  	Representations and Warranties With Respect to the Receivables
	Schedule II	  	Perfection Representations, Warranties and Covenants

  

					
		  	ii	  	Purchase Agreement (2013-A)

 THIS PURCHASE AGREEMENT is made and entered into as of March 28, 2013 (as amended,
restated, supplemented or otherwise modified and in effect from time to time, this “Agreement”) by FIFTH THIRD HOLDINGS, LLC, a Delaware limited liability company (“FTH LLC”), and FIFTH THIRD HOLDINGS FUNDING,
LLC, a Delaware limited liability company (the “Purchaser”). 
 WITNESSETH: 

WHEREAS, the Purchaser desires to purchase from FTH LLC a portfolio of motor vehicle receivables, including motor vehicle retail
installment sale contracts and/or installment loans that are secured by new and used automobiles, light-duty trucks, vans and other motor vehicles; and 
 WHEREAS, FTH LLC is willing to sell such portfolio of motor vehicle receivables and related property to the Purchaser on the terms and conditions set forth in this Agreement. 

NOW, THEREFORE, in consideration of the premises and the mutual agreements set forth herein, the parties hereto agree as follows:

 ARTICLE I 
 DEFINITIONS AND USAGE 
 SECTION 1.1 Definitions. Except as otherwise
defined herein or as the context may otherwise require, capitalized terms used but not otherwise defined herein are defined in Appendix A to the Sale Agreement dated as of the date hereof (as from time to time amended, supplemented or
otherwise modified and in effect, the “Sale Agreement”) between Fifth Third Auto Trust 2013-A and the Purchaser, as seller, which contains rules as to usage that are applicable herein. 

SECTION 1.2 Other Interpretive Provisions. For purposes of this Agreement, unless the context otherwise requires:
(a) accounting terms not otherwise defined in this Agreement, and accounting terms partly defined in this Agreement to the extent not defined, shall have the respective meanings given to them under GAAP (provided, that, to the extent
that the definitions in this Agreement and GAAP conflict, the definitions in this Agreement shall control); (b) terms defined in Article 9 of the UCC as in effect in the relevant jurisdiction and not otherwise defined in this Agreement are used
as defined in that Article; (c) the words “hereof,” “herein” and “hereunder” and words of similar import refer to this Agreement as a whole and not to any particular provision of this Agreement; (d) references
to any Article, Section, Schedule, Appendix or Exhibit are references to Articles, Sections, Schedules, Appendices and Exhibits in or to this Agreement and references to any paragraph, subsection, clause or other subdivision within any Section or
definition refer to such paragraph, subsection, clause or other subdivision of such Section or definition; (e) the term “including” and all variations thereof means “including without limitation”; (f) except as
otherwise expressly provided herein, references to any law or regulation refer to that law or regulation as amended from time to time and include any successor law or regulation; (g) references to any Person include that Person’s
successors and assigns and 

  

					
		  		  	Purchase Agreement (2013-A)

 
(h) headings are for purposes of reference only and shall not otherwise affect the meaning or interpretation of any provision hereof. 

ARTICLE II 

PURCHASE 

SECTION 2.1 Agreement to Sell and Contribute on the Closing Date. On the terms and subject to the conditions set forth in this
Agreement, FTH LLC does hereby transfer, assign, set over, sell, contribute and otherwise convey to the Purchaser without recourse (subject to the obligations herein) on the Closing Date all of its right, title, interest, claims and demands of the
Seller, in, to and under each of (a) the Receivables, the Collections after the Cut-Off Date, the Receivable Files and the Related Security relating thereto, whether now owned or hereafter acquired, as evidenced by an assignment in the form of
Exhibit A (“Assignment”) delivered on the Closing Date and (b) the Receivables Sale Agreement (the “Purchased Assets”). The sale, transfer, assignment, contribution and conveyance made hereunder
does not constitute and is not intended to result in an assumption by the Purchaser of any obligation of FTH LLC or the Originator to the Obligors, the Dealers, insurers or any other Person in connection with the Receivables or the other assets and
properties conveyed hereunder or any agreement, document or instrument related thereto. 
 SECTION 2.2 Consideration and
Payment. In consideration of the transfer of the Purchased Assets conveyed to the Purchaser pursuant to Section 2.1 on the Closing Date, the Purchaser shall pay in cash to FTH LLC on such date an amount equal to the estimated fair
market value of the Purchased Assets on the Closing Date. Such purchase price shall be paid in cash to FTH LLC in an amount agreed to between FTH LLC and the Purchaser, and, to the extent not paid in cash by the Purchaser, shall be paid by a capital
contribution by FTH LLC in an undivided interest in such Purchased Assets that increases its equity interest in the Purchaser in an amount equal to the excess of the estimated fair market value of the Purchased Assets over the amount of cash paid by
the Purchaser to FTH LLC. 
 ARTICLE III 
 REPRESENTATIONS, WARRANTIES AND COVENANTS 
 SECTION 3.1 Representations and
Warranties of FTH LLC. FTH LLC makes the following representations and warranties as of the Closing Date on which the Purchaser will be deemed to have relied in acquiring the Purchased Assets. The representations and warranties will survive the
conveyance of the Purchased Assets to the Purchaser pursuant to this Agreement, the conveyance of the Purchased Assets to the Issuer pursuant to the Sale Agreement and the Grant thereof by the Issuer to the Indenture Trustee pursuant to the
Indenture: 
 (a) Existence and Power. FTH LLC is a limited liability company validly existing and in good standing under
the laws of the State of Delaware and has, in all material respects, all power and authority to carry on its business as it is now conducted. FTH LLC has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so
would materially and adversely affect the ability of FTH LLC to perform its obligations under the Transaction 

  

					
		 	-2-	  	Purchase Agreement (2013-A)

 
Documents or affect the enforceability or collectibility of the Receivables or any other part of the Purchased Assets. 
 (b) Authorization and No Contravention. The execution, delivery and performance by FTH LLC of the Transaction Documents to which it is a party (i) have been duly authorized by all necessary
limited liability company action on the part of FTH LLC and (ii) do not contravene or constitute a default under (A) any applicable law, rule or regulation, (B) its organizational documents or (C) any material agreement,
contract, order or other instrument to which it is a party or its property is subject (other than violations which do not affect the legality, validity or enforceability of any of such agreements and which, individually or in the aggregate, would
not materially and adversely affect the transactions contemplated by, or FTH LLC’s ability to perform its obligations under, the Transaction Documents). 
 (c) No Consent Required. No approval or authorization by, or filing with, any Governmental Authority is required in connection with the execution, delivery and performance by FTH LLC of any
Transaction Document other than (i) UCC filings, (ii) approvals and authorizations that have previously been obtained and filings that have previously been made and (iii) approvals, authorizations or filings which, if not obtained or
made, would not have a material adverse effect on the enforceability or collectibility of the Receivables or any other part of the Purchased Assets or would not materially and adversely affect the ability of FTH LLC to perform its obligations under
the Transaction Documents. 
 (d) Binding Effect. Each Transaction Document to which FTH LLC is a party constitutes the
legal, valid and binding obligation of FTH LLC enforceable against FTH LLC in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or
other similar laws affecting the enforcement of creditors’ rights generally and, if applicable, the rights of creditors of limited liability companies from time to time in effect or by general principles of equity. 

(e) No Proceedings. There are no actions, suits or Proceedings pending or, to the knowledge of FTH LLC, threatened against FTH LLC
before or by any Governmental Authority that (i) assert the invalidity or unenforceability of this Agreement or any of the other Transaction Documents, (ii) seek to prevent the issuance of the Notes or the consummation of any of the
transactions contemplated by this Agreement or any of the other Transaction Documents, (iii) seek any determination or ruling that would materially and adversely affect the performance by FTH LLC of its obligations under this Agreement or any
of the other Transaction Documents or the collectibility or enforceability of the Receivables, or (iv) relate to FTH LLC that would materially and adversely affect the federal or Applicable Tax State income, excise, franchise or similar tax
attributes of the Notes. 
 (f) Lien Filings. FTH LLC is not aware of any material judgment, ERISA or tax lien filings
against FTH LLC. 

  

					
		 	-3-	  	Purchase Agreement (2013-A)

 SECTION 3.2 Representations and Warranties of FTH LLC as to each Receivable. FTH LLC
hereby makes the representations and warranties set forth on Schedule I as to the Receivables, sold, contributed, transferred, assigned, set over and otherwise conveyed to the Purchaser under this Agreement on which such representations and
warranties the Purchaser relies in acquiring the Receivables. Such representations and warranties shall survive the sale of the Receivables to the Issuer under the Sale Agreement, and the Grant of the Receivables by the Issuer to the Indenture
Trustee pursuant to the Indenture. Notwithstanding any statement to the contrary contained herein or in any other Transaction Document, FTH LLC shall not be required to notify any insurer with respect to any Insurance Policy obtained by an Obligor
or to notify any Dealer about any aspect of the transaction contemplated by the Transaction Documents. 
 SECTION 3.3
Repurchase upon Breach. Upon discovery by or notice to the Purchaser or FTH LLC of a breach of any of the representations and warranties set forth in Section 3.2 at the time such representations and warranties were made which
materially and adversely affects the interests of the Issuer or the Noteholders, the party discovering such breach or receiving such notice shall give prompt written notice thereof to the other party; provided, that delivery of a
Servicer’s Certificate which identifies the Receivables that are being or have been repurchased shall be deemed to constitute prompt notice of such breach; provided, further, that the failure to give such notice shall not affect
any obligation of FTH LLC hereunder. If the breach materially and adversely affects the interests of the Issuer or the Noteholders, then FTH LLC shall either (a) correct or cure such breach or (b) repurchase such Receivable from the
Purchaser, in either case on or before the Payment Date following the end of the Collection Period which includes the 60th day (or, if FTH LLC elects, an earlier date) after the date that FTH LLC became aware or was notified of such breach. Any such
breach or failure will be deemed not to have a material and adverse effect if such breach or failure does not affect the ability of the Purchaser (or its assignee) to receive and retain timely payment in full on such Receivable. Any such purchase by
FTH LLC shall be at a price equal to the Repurchase Price. In consideration for such repurchase, FTH LLC shall make (or shall cause to be made) a payment to the Purchaser equal to the Repurchase Price by depositing such amount into the Collection
Account prior to 11:00 a.m., New York City time on the date of such repurchase, if such repurchase date is not a Payment Date or, if such repurchase date is a Payment Date, then prior to the close of business on the Business Day prior to such
repurchase date. Upon payment of such Repurchase Price by FTH LLC, the Purchaser shall release and shall execute and deliver such instruments of release, transfer or assignment, in each case without recourse or representation, as may be reasonably
requested by FTH LLC to evidence such release, transfer or assignment or more effectively vest in FTH LLC or its designee any Receivable and the related Purchased Assets repurchased pursuant hereto. It is understood and agreed that the obligation of
FTH LLC to purchase any Receivable as described above shall constitute the sole remedy respecting such breach available to the Purchaser. 
 SECTION 3.4 Protection of Title. 
 (a) FTH LLC shall authorize and file
such financing statements and cause to be authorized and filed such continuation and other 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 Purchaser under this
Agreement in the Receivables (other than any Related Security with respect thereto, to the extent that the interest of the Purchaser therein cannot be perfected by the filing of 

  

					
		 	-4-	  	Purchase Agreement (2013-A)

 
a financing statement). FTH LLC shall deliver (or cause to be delivered) to the Purchaser file-stamped copies of, or filing receipts for, any document filed as provided above, as soon as
available following such filing. 
 (b) FTH LLC will notify the Purchaser in writing within ten (10) days following the
occurrence of (i) any change in the FTH LLC’s organizational structure as a limited liability company, (ii) any change in FTH LLC’s “location” (within the meaning of Section 9-307 of the UCC of all applicable
jurisdictions) and (iii) any change in the FTH LLC’s name and shall have taken all action prior to making such change (or shall have made arrangements to take such action substantially simultaneously with such change, if it is not
practicable to take such action in advance) reasonably necessary or advisable in the opinion of the Purchaser to amend all previously filed financing statements or continuation statements described in paragraph (a) above. FTH LLC will at
all times maintain its “location” within the United States. 
 (c) FTH LLC shall maintain (or shall cause the Servicer
to maintain) its computer systems so that, from time to time after the conveyance under this Agreement of the Receivables, the master computer records (including any backup archives) that refer to a Receivable shall indicate clearly the interest of
the Purchaser (or any subsequent assignee of the Purchaser) in such Receivable and that such Receivable is owned by such Person. Indication of such Person’s interest in a Receivable shall not be deleted from or modified on such computer systems
until, and only until, the related Receivable shall have been paid in full or repurchased. 
 (d) If at any time FTH LLC shall
propose to sell, grant a security interest in or otherwise transfer any interest in motor vehicle receivables to any prospective purchaser, lender or other transferee, FTH LLC 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 Purchaser (or any
subsequent assignee of the Purchaser). 
 SECTION 3.5 Other Liens or Interests. Except for the conveyances and grants of
security interests pursuant to this Agreement and the other Transaction Documents, FTH LLC shall not sell, pledge, assign or transfer the Receivables or other property transferred to the Purchaser to any other Person, or grant, create, incur, assume
or suffer to exist any Lien (other than Permitted Liens) on any interest therein, and FTH LLC shall defend the right, title and interest of the Purchaser in, to and under such Receivables or other property transferred to the Purchaser against all
claims of third parties claiming through or under FTH LLC. 
 SECTION 3.6 Perfection Representations, Warranties and
Covenants. FTH LLC hereby makes the perfection representations, warranties and covenants set forth on Schedule II hereto to the Purchaser and the Purchaser shall be deemed to have relied on such representations, warranties and covenants
in acquiring the Purchased Assets. 
 SECTION 3.7 Compliance with the FDIC Rule. FTH LLC (i) shall perform the
covenants set forth in Article XII of the Indenture applicable to it and (ii) shall facilitate compliance with Article XII of the Indenture by the Fifth Third Parties. 

  

					
		 	-5-	  	Purchase Agreement (2013-A)

 SECTION 3.8 Merger or Consolidation of, or Assumption of the Obligations of, FTH LLC.
Any Person (i) into which FTH LLC may be merged or converted or with which it may be consolidated, to which it may sell or transfer its business and assets as a whole or substantially as a whole, (ii) resulting from any merger, sale,
transfer conversion, or consolidation to which FTH LLC shall be a party, (iii) succeeding to the business of FTH LLC, or (iv) more than 50% of the voting stock or voting power and 50% or more of the economic equity of which is owned
directly or indirectly by Fifth Third Bancorp, which Person in any of the foregoing cases executes an agreement of assumption to perform every obligation of FTH LLC under this Agreement, will be the successor to FTH LLC under this Agreement without
the execution or filing of any document or any further act on the part of any of the parties to this Agreement anything herein to the contrary notwithstanding. Notwithstanding the foregoing, if FTH LLC enters into any of the foregoing transactions
and is not the surviving entity, FTH LLC will deliver to the Indenture Trustee an Opinion of Counsel either (A) stating that, in the opinion of such counsel, all financing statements and continuation statements and amendments thereto have been
executed and filed that are necessary to preserve and protect the interest of the Issuer and the Indenture Trustee, respectively, in the Receivables, or (B) stating that, in the opinion of such counsel , no such action is necessary to preserve
and protect such interest. 
 SECTION 3.9 FTH LLC May Own Notes. FTH LLC, and any Affiliate of FTH LLC, may in its
individual or any other capacity become the owner or pledgee of Notes with the same rights as it would have if it were not FTH LLC or an Affiliate thereof, except as otherwise expressly provided herein or in the other Transaction Documents. Except
as set forth herein or in the other Transaction Documents, Notes so owned by FTH LLC or any such Affiliate will have an equal and proportionate benefit under the provisions of this Agreement and the other Transaction Documents, without preference,
priority, or distinction as among all of the Notes. Unless all Notes are owned by the Issuer, FTH LLC, the Servicer, the Administrator or any of their respective Affiliates, any Notes owned by the Issuer, FTH LLC, the Servicer, the Administrator or
any of their respective Affiliates shall be disregarded with respect to the determination of any request, demand, authorization, direction, notice, consent, vote or waiver hereunder or under any other Transaction Document. 

ARTICLE IV 

MISCELLANEOUS 

SECTION 4.1 Transfers Intended as Sale; Security Interest. 

(a) Each of the parties hereto expressly intends and agrees that the transfers contemplated and effected under this Agreement are
complete and absolute sales, transfers, assignments and contributions rather than pledges or assignments of only a security interest and shall be given effect as such for all purposes. It is further the intention of the parties hereto that the
Receivables and related Purchased Assets shall not be part of FTH LLC’s estate in the event of a bankruptcy or insolvency of FTH LLC. The sales and transfers by FTH LLC of the Receivables and related Purchased Assets hereunder are and shall be
without recourse to, or representation or warranty (express or implied) by, FTH LLC, except as otherwise specifically provided herein. The limited rights of recourse specified herein against FTH LLC are intended

  

					
		 	-6-	  	Purchase Agreement (2013-A)

 
to provide a remedy for breach of representations and warranties relating to the condition of the property sold, rather than to the collectibility of the Receivables. 

(b) Notwithstanding the foregoing, in the event that the Receivables and other Purchased Assets are held to be property of FTH LLC, or if
for any reason this Agreement is held or deemed to create indebtedness or a security interest in the Receivables and other Purchased Assets, then it is intended that: 

(i) This Agreement shall be deemed to be a security agreement within the meaning of Articles 8 and 9 of the New York UCC
and the UCC of any other applicable jurisdiction; 
 (ii) The conveyance provided for in Section 2.1
shall be deemed to be a grant by FTH LLC of, and FTH LLC hereby grants to the Purchaser, a security interest in all of its right (including the power to convey title thereto), title and interest, whether now owned or hereafter acquired, in and to
the Receivables and other Purchased Assets, to secure such indebtedness and the performance of the obligations of FTH LLC hereunder; 
 (iii) The possession by the Purchaser or its agent of the Receivable Files and any other property that constitute instruments, money, negotiable documents or chattel paper shall be deemed to be
“possession by the secured party” or possession by the purchaser or a Person designated by such purchaser, for purposes of perfecting the security interest pursuant to the New York UCC and the UCC of any other applicable jurisdiction; and

 (iv) Notifications to Persons holding such property, and acknowledgments, receipts or confirmations from
Persons holding such property, shall be deemed to be notifications to, or acknowledgments, receipts or confirmations from, bailees or agents (as applicable) of the Purchaser for the purpose of perfecting such security interest under applicable law.

 SECTION 4.2 Notices, Etc. All demands, notices and communications hereunder shall be in writing and shall be
delivered or mailed by registered or certified first-class United States mail, postage prepaid, hand delivery, prepaid courier service, by facsimile or, if so provided on Schedule II to the Sale Agreement, by electronic transmission, and
addressed in each case as specified on Schedule II to the Sale Agreement, or at such other address as shall be designated by any of the specified addressees in a written notice to the other parties hereto. 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 Noteholder as shown in the Note Register. Delivery shall occur only upon receipt or reported tender of such communication by an officer of the
recipient entitled to receive such notices located at the address of such recipient for notices hereunder; provided, however, that any notice to a Noteholder mailed within the time and manner prescribed in
this Agreement shall be conclusively presumed to have been duly given, whether or not the Noteholder shall receive such notice. 
 SECTION 4.3 Choice of Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL, SUBSTANTIVE 

  

					
		 	-7-	  	Purchase Agreement (2013-A)

 
LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO CONFLICTS OF LAW, OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 SECTION 4.4
Headings. The section headings hereof have been inserted for convenience only and shall not be construed to affect the meaning, construction or effect of this Agreement. 

SECTION 4.5 Counterparts. This Agreement may be executed in any number of counterparts, each of which so executed shall be deemed
to be an original, regardless of whether delivered in physical or electronic form, but all of such counterparts shall together constitute but one and the same instrument. 
 SECTION 4.6 Amendment. 
 (a) Any term or provision of this Agreement may be
amended by FTH LLC and the Purchaser without the consent of the Indenture Trustee, the Issuer, any Noteholder, the Owner Trustee or any other Person subject to the satisfaction of one of the following conditions: 

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

(ii) The Rating Agency Condition is satisfied with respect to such amendment and FTH LLC or the Purchaser notifies the
Indenture Trustee in writing that the Rating Agency Condition is satisfied with respect to such amendment. 
 (b) This Agreement
may also be amended from time to time by FTH LLC and the Purchaser, with the consent of (i) the Holders of Notes evidencing not less than a majority of the Outstanding Note Balance of the Controlling Class and (ii) the Majority
Certificateholders, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders or the Certificateholders. It will not be
necessary for the consent of Noteholders or Certificateholders to approve the particular form of any proposed amendment or consent, but it will be sufficient if such consent approves the substance thereof. The manner of obtaining such consents (and
any other consents of Noteholders and Certificateholders provided for in this Agreement) and of evidencing the authorization of the execution thereof by Noteholders and Certificateholders will be subject to such reasonable requirements as the
Indenture Trustee and Owner Trustee may prescribe, including the establishment of record dates pursuant to the Note Depository Agreement. 
 (c) Prior to the execution of any amendment pursuant to this Section 4.6, FTH LLC or the Purchaser shall provide written notification of the substance of such amendment to each Rating Agency;
and promptly after the execution of any such amendment, FTH LLC or the Purchaser shall furnish a copy of such amendment to each Rating Agency, the Issuer and the Indenture Trustee; provided, that no amendment pursuant to this
Section 4.6 shall be effective 

  

					
		 	-8-	  	Purchase Agreement (2013-A)

 
which materially and adversely affects the rights, protections or duties of the Indenture Trustee or the Owner Trustee without the prior written consent of such Person. 

(d) Prior to the execution of any amendment to this Agreement, the Owner Trustee and the Indenture Trustee shall be entitled to receive
and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and an Officer’s Certificate from the Depositor or the Administrator that all conditions precedent to the
execution and delivery of such amendment have been satisfied. The Owner Trustee and the Indenture Trustee may, but shall not be obligated to, enter into any such amendment which materially and adversely affects the Owner Trustee’s or the
Indenture Trustee’s, as applicable, own rights, privileges, indemnities, duties or obligations under this Agreement, the Transaction Documents or otherwise. 
 (e) Notwithstanding subsection (a) of this Section 4.6, this Agreement may only be amended by FTH LLC and the Purchaser if (i) the Majority Certificateholders, consent
to such amendment or (ii) such amendment shall not, as evidenced by an Officer’s Certificate of FTH LLC or the Purchaser or an Opinion of Counsel delivered to the Indenture Trustee and the Owner Trustee, materially and adversely affect the
interests of the Certificateholders. 
 SECTION 4.7 Waivers. No failure or delay on the part of the Purchaser, the
Servicer, FTH LLC, the Issuer or the Indenture Trustee in exercising any power or right hereunder (to the extent such Person has any power or right hereunder) shall operate as a waiver thereof, nor shall any single or partial exercise of any such
power or right preclude any other or further exercise thereof or the exercise of any other power or right. No notice to or demand on the Purchaser or FTH LLC in any case shall entitle it to any notice or demand in similar or other circumstances. No
waiver or approval by either party under this Agreement shall, except as may otherwise be stated in such waiver or approval, be applicable to subsequent transactions. No waiver or approval under this Agreement shall require any similar or dissimilar
waiver or approval thereafter to be granted hereunder. 
 SECTION 4.8 Entire Agreement. The Transaction Documents contain
a final and complete integration of all prior expressions by the parties hereto with respect to the subject matter thereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter thereof, superseding all
prior oral or written understandings. There are no unwritten agreements among the parties. 
 SECTION 4.9 Severability of
Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining
covenants, agreements, provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement. 
 SECTION 4.10 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. This Agreement shall create
and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until such time as the parties hereto shall agree. 

  

					
		 	-9-	  	Purchase Agreement (2013-A)

 SECTION 4.11 Acknowledgment and Agreement. By execution below, FTH LLC expressly
acknowledges and consents to the sale of the Purchased Assets and the assignment of all rights and obligations of FTH LLC related thereto by the Purchaser to the Issuer pursuant to the Sale Agreement and the Grant of a security interest in the
Receivables and the other Purchased Assets by the Issuer to the Indenture Trustee pursuant to the Indenture for the benefit of the Noteholders. In addition, FTH LLC hereby acknowledges and agrees that for so long as the Notes are outstanding, the
Indenture Trustee will have the right to exercise all powers, privileges and claims of the Purchaser under this Agreement in the event that the Purchaser shall fail to exercise the same. 

SECTION 4.12 Cumulative Remedies. The remedies herein provided are cumulative and not exclusive of any remedies provided by law.

 SECTION 4.13 Nonpetition Covenant. Each party hereto agrees that, prior to the date which is one year and one day
after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by any Bankruptcy Remote Party (i) such party hereto shall not authorize any Bankruptcy Remote Party to commence a voluntary winding-up
or other voluntary case or other Proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect in any
jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any substantial part of its property or to consent to any such relief
or to the appointment of or taking possession by any such official in an involuntary case or other Proceeding commenced against such Bankruptcy Remote Party, or to make a general assignment for the benefit of its creditors generally, any party
hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence or join with any other Person in commencing any Proceeding against such Bankruptcy Remote Party under any bankruptcy, reorganization,
liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. This Section shall survive the termination of this Agreement. 
 SECTION 4.14 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 or Proceeding relating to this Agreement or any 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 or Proceeding may
be brought in such courts and waives any objection that it may now or hereafter have to the venue of such action or Proceeding in any such court or that such action or Proceeding was brought in an inconvenient court and agrees not to plead or claim
the same; 
 (c) agrees that service of process in any such action or Proceeding may be effected by mailing a copy thereof by
registered or certified mail (or any substantially similar form of mail), 

  

					
		 	-10-	  	Purchase Agreement (2013-A)

 
postage prepaid, to such Person at its address determined in accordance with Section 4.2 of this Agreement; 
 (d) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction; and 

(e) to the extent permitted by applicable law, each party hereto irrevocably waives all right of trial by jury in any action,
Proceeding or counterclaim based on, or arising out of, under or in connection with this Agreement, any other Transaction Document, or any matter arising hereunder or thereunder. 

[Remainder of Page Intentionally Left Blank] 

  

					
		 	-11-	  	Purchase Agreement (2013-A)

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first written above. 
  

			
	FIFTH THIRD HOLDINGS, LLC
		
	By:	 	 /s/ Neil J. Prendergast

	Name:	 	Neil J. Prendergast
	Title:	 	Senior Vice President
	
	FIFTH THIRD HOLDINGS FUNDING, LLC
		
	By:	 	 /s/ Neil J. Prendergast

	Name:	 	Neil J. Prendergast
	Title:	 	Senior Vice President

  

					
		 	S-1	  	Purchase Agreement (2013-A)

 EXHIBIT A 
 FORM OF 
 ASSIGNMENT PURSUANT TO PURCHASE AGREEMENT 

March 28, 2013 
 For value received, in accordance with the Purchase Agreement, dated as of March 28, 2013 (the “Agreement”), between Fifth Third Holdings, LLC, a Delaware limited liability company
(“FTH LLC”), and Fifth Third Holdings Funding, LLC, a Delaware limited liability company (the “Purchaser”), on the terms and subject to the conditions set forth in the Agreement, FTH LLC does hereby transfer,
assign, set over, sell, contribute and otherwise convey to the Purchaser without recourse (subject to the obligations in the Agreement) on the Closing Date, all of its right, title, interest claims and demands in, to and under the Receivables set
forth on the schedule of Receivables delivered by FTH LLC to the Purchaser on the date hereof, the Collections after the Cut-Off Date, the Receivable Files and the Related Security relating thereto. 

The foregoing sale does not constitute and is not intended to result in an assumption by the Purchaser of any obligation of the
undersigned or the Originator to the Obligors, the Dealers, insurers or any other Person in connection with the Receivables, or the other assets and properties conveyed hereunder or any agreement, document or instrument related thereto. 

This assignment is made pursuant to and upon the representations, warranties and agreements on the part of the undersigned contained in
the Agreement and is governed by the Agreement. 
 Capitalized terms used herein and not otherwise defined shall have the
meaning assigned to them in the Agreement, or if not defined in the Agreement, in Appendix A to the Sale Agreement, dated as of March 28, 2013, between Fifth Third Auto Trust 2013-A and the Purchaser, as seller. 

[Remainder of page intentionally left blank] 

  

					
		 	A-1	  	Purchase Agreement (2013-A)

 IN WITNESS WHEREOF, the undersigned has caused this assignment to be duly executed as of the
date first above written. 
  

			
	FIFTH THIRD HOLDINGS, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

  

					
		 	A-2	  	Purchase Agreement (2013-A)

 SCHEDULE I 
 REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE RECEIVABLES 
  

	(a)	Characteristics of Receivables. As of the Cut-Off Date (or such other date as may be specifically set forth below), each Receivable: 

 

	 	(i)	has been fully and properly executed or electronically authenticated by the Obligor thereto; 

 

	 	(ii)	has either (A) been originated by a Dealer in the ordinary course of such Dealer’s business to finance the retail sale by a Dealer of the related Financed
Vehicle and has been purchased by the Originator in the ordinary course of its respective business or (B) has been originated or acquired directly by the Originator in accordance with its customary practices; 

 

	 	(iii)	as of the Closing Date is secured by a first priority validly perfected security interest in the Financed Vehicle in favor of the Originator, as secured party, or all
necessary actions have been commenced that would result in a first priority security interest in the Financed Vehicle in favor of the Originator, as secured party, which security interest, in either case, is assignable and has been so assigned
(x) by the Originator to FTH LLC, (y) by FTH LLC to the Purchaser and (z) by the Purchaser to the Issuer; 

  

	 	(iv)	contains customary and enforceable provisions such that the rights and remedies of the holder thereof are adequate for realization against the collateral of the
benefits of the security; 

  

	 	(v)	provided, at origination, for level monthly payments which fully amortize the initial Outstanding Principal Balance over the original term; provided, that the
amount of the first or last payment may be different from the level payment but in no event more than three times the level monthly payment; 

  

	 	(vi)	provides for interest at the Contract Rate specified in the Schedule of Receivables; and 

 

	 	(vii)	was originated in the United States. 

  

	(b)	Individual Characteristics. As of the Cut-Off Date (or such other date as may be specifically set forth below), each Receivable has the following individual
characteristics: 

  

	 	(i)	each Receivable is secured by a new or used automobile, light-duty truck, van or other motor vehicle; 

 

	 	(ii)	each Receivable has a Contract Rate of no less than 0.90% and not more than 3.88%; 

  

					
		 	Schedule I-1	  	Purchase Agreement (2013-A)

	 	(iii)	each Receivable had an original term to maturity of not more than 75 months and not less than 12 months and each Receivable has a remaining term to maturity, as of
the Cut-Off Date, of not more than 74 months and not less than 2 months; 

  

	 	(iv)	each Receivable has an Outstanding Principal Balance as of the Cut-Off Date of at least $1,055.45; 

 

	 	(v)	no Receivable has a scheduled maturity date later than June 26, 2019; 

 

	 	(vi)	no Receivable was more than 30 days past due as of the Cut-Off Date; 

  

	 	(vii)	as of the Cut-Off Date, no Receivable was noted in the records of the Servicer as being the subject of any pending bankruptcy or insolvency Proceeding;

  

	 	(viii)	each Receivable is a Simple Interest Receivable; 

  

	 	(ix)	each of the Receivables were selected using selection procedures that were not known or intended by FTH LLC to be adverse to the Purchaser; and

  

	 	(x)	the Dealer of the Financed Vehicle has no participation in, or other right to receive, any proceeds of such Receivable. 

 

	(c)	Schedule of Receivables. The information with respect to each Receivable transferred on the Closing Date set forth in the Schedule of Receivables was true and
correct in all material respects as of the Cut-Off Date. 

  

	(d)	Compliance with Law. Each Receivable complied at the time it was originated or made, in all material respects with all requirements of applicable federal, state
and local laws, and regulations thereunder, including, to the extent applicable, usury laws, the Federal Truth in Lending Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Federal Trade Commission Act, the Fair Debt
Collection Practices Act, the Fair Credit Billing Act, the Magnuson-Moss Warranty Act, Consumer Financial Protection Bureau’s Regulations B and Z, the Servicemembers Civil Relief Act of 2003, state adaptations of the National Consumer Act and
of the Uniform Consumer Credit Code and any other consumer credit, equal opportunity and disclosure laws applicable to that Receivable. 

  

	(e)	Binding Obligation. Each Receivable constitutes the legal, valid and binding payment obligation in writing of the Obligor, enforceable in all respects by the
holder thereof in accordance with its terms, except (i) as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, liquidation or other similar laws and equitable principles relating to or affecting the enforcement
of creditors’ rights generally and (ii) as such Receivable may be modified by the application after the Cut-Off Date of the Servicemembers Civil Relief Act of 2003, as amended, to the extent applicable to the related Obligor.

  

					
		 	Schedule I-2	  	Purchase Agreement (2013-A)

	(f)	Receivable in Force. Each Receivable has not been satisfied, subordinated or rescinded nor has the related Financed Vehicle been released from the lien granted
by the Receivable in whole or in part. 

  

	(g)	No Default; No Waivers. Except for payment delinquencies continuing for a period of not more than 30 days as of the Cut-Off Date, the records of the Servicer did
not disclose that any default, breach, violation or event permitting acceleration under the terms of the Receivable existed as of the Cut-Off Date or that any continuing condition that with notice or lapse of time, or both, would constitute a
default, breach, violation or event permitting acceleration under the terms of the Receivable had arisen as of the Cut-Off Date and FTH LLC has not waived any of the foregoing. 

 

	(h)	Insurance. Each Receivable requires the Obligor thereunder to insure the Financed Vehicle under a physical damage insurance policy. 

 

	(i)	No Government Obligor. The Obligor on each Receivable is not the United States of America or any state thereof or any local government, or any agency,
department, political subdivision or instrumentality of the United States of America or any state thereof or any local government. 

  

	(j)	Assignment. No Receivable has been originated in, or is subject to the laws of, any jurisdiction under which the sale, transfer, assignment, contribution,
conveyance or pledge of such Receivable would be unlawful, void, or voidable. FTH LLC has not entered into any agreement with any Obligor that prohibits, restricts or conditions the assignment of the related Receivable. 

 

	(k)	Good Title. It is the intention of FTH LLC that the sale, contribution, transfer, assignment and conveyance herein contemplated constitute an absolute sale,
contribution, transfer, assignment and conveyance of the Receivables and that the Receivables not be part of FTH LLC’s estate in the event of the filing of a bankruptcy petition by or against FTH LLC under any bankruptcy law. As of the Closing
Date, no Receivable has been sold, transferred, assigned, conveyed or pledged to any Person other than pursuant to the Transaction Documents. As of the Closing Date, and immediately prior to the sale and transfer herein contemplated, FTH LLC had
good and marketable title to each Receivable free and clear of all Liens (except any Lien which will be released prior to the sale and transfer of such Receivable to the Purchaser), and, immediately upon the sale and transfer thereof, the Purchaser
will have good and marketable title to each Receivable, free and clear of all Liens (other than Permitted Liens). 

  

	(l)	Filings. All filings (including, without limitation, UCC filings) necessary in any jurisdiction to give the Purchaser a first priority, validly perfected
ownership interest in the Receivables (other than the Related Security with respect thereto, to the extent that the interest of the Issuer therein cannot be perfected by the filing of a financing statement), and to give the Indenture Trustee a first
priority perfected security interest therein, will be submitted for filing on the Closing Date. 

  

					
		 	Schedule I-3	  	Purchase Agreement (2013-A)

	(m)	Priority. The Receivable is not pledged, assigned, sold, subject to a security interest, or otherwise conveyed other than pursuant to the Transaction Documents.
The Purchase Agreement creates a valid and continuing security interest in the Receivable (other than the Related Security with respect thereto) in favor of the Purchaser which security interest is prior to all other Liens (other than Permitted
Liens) and is enforceable as such against all other creditors of and purchasers and assignees from the FTH LLC. 

  

	2.	Characterization of Receivables. Each Receivable constitutes either “electronic chattel paper,” “tangible chattel paper,” an
“instrument,” an “account,” a “promissory note,” a “general intangible” or a “payment intangible,” each as defined in the UCC. 

 

	(a)	One Original. There is only one executed original, electronically authenticated original or authoritative copy of the Contract (in each case within the meaning
of the UCC) related to each Receivable. If such original has been marked, then such original does not have any marks or notations indicating that it has been pledged, assigned or otherwise conveyed to any Person other than to a party to the
Transaction Documents. 

  

	(b)	No Defenses. FTH LLC has no knowledge either of any facts which would give rise to any right of rescission, set-off, counterclaim or defense, or of the same
being asserted or threatened, with respect to any Receivable. 

  

	(c)	No Repossession. As of the Cut-Off Date, no Financed Vehicle shall have been repossessed. 

 

	(d)	Pennsylvania Receivables. If such Receivable has an Obligor with a mailing address in Pennsylvania at origination, then such Receivable is not an
“installment sale contract” within the meaning of the Pennsylvania Motor Vehicles Sales Finance Act, 69 P.S. §601 et. seq. 

  

	(e)	Electronic Chattel Paper. As of the Cut-Off Date, such Receivable did not cause the aggregate Outstanding Principal Balance of all Receivables that constitute
“electronic chattel paper” (as defined in the UCC) to exceed 2.50% of the Net Pool Balance as of the Cut-Off Date. 

  

	(f)	Prepayments. The Receivable requires the Obligor thereunder to pay, upon any prepayment of such Receivable, an amount that is not less than the outstanding
principal balance of such Receivable plus interest accrued at the applicable Contract Rate to the date of the prepayment. 

  

					
		 	Schedule I-4	  	Purchase Agreement (2013-A)

 SCHEDULE II 
 PERFECTION REPRESENTATIONS, WARRANTIES AND COVENANTS 
 In addition to the
representations, warranties and covenants contained in the Agreement, FTH LLC hereby represents, warrants, and covenants to the Purchaser as follows on the Closing Date: 
 General 
 1. This Agreement creates a valid and continuing security
interest (as defined in the applicable UCC) in the Receivables and the other Purchased Assets in favor of the Purchaser, which security interest is prior to all other Liens, and is enforceable as such against creditors of and purchasers from FTH
LLC. 
 2. The Receivables constitute “chattel paper” (including “electronic chattel paper” or
“tangible chattel paper”) “accounts,” “promissory notes”, “instruments”, “payment intangibles”, or “general intangibles,” within the meaning of the applicable UCC. 

3. Immediately prior to the sale, transfer, contribution, assignment and/or conveyance of a Receivable, each Receivable is secured by a
first priority validly perfected and enforceable security interest in the related Financed Vehicle in favor of the Originator, as secured party, or all necessary actions with respect to such Receivable have been taken or will be taken to perfect a
first priority security interest in the related Financed Vehicle in favor of the Originator, as secured party, subject, as to enforcement, to applicable bankruptcy, insolvency, reorganization, liquidation or other similar laws and equitable
principles relating to or affecting the enforcement of creditors’ rights generally. 
 Creation 

4. Immediately prior to the sale, transfer, contribution, assignment and/or conveyance of a Receivable by FTH LLC to the Purchaser, FTH
LLC owned and had good and marketable title to such Receivable free and clear of any Lien (other than any Liens in favor of the Purchaser) and immediately after the sale, transfer, assignment and conveyance of such Receivable to the Purchaser, the
Purchaser will have good and marketable title to such Receivable free and clear of any Lien. 
 5. FTH LLC has received all
consents and approvals to the sale of the Receivables hereunder to the Purchaser required by the terms of the Receivables that constitute instruments. 

  

					
		 	Schedule II-1	  	Purchase Agreement (2013-A)

 Perfection 

6. FTH LLC has submitted or will have caused to be submitted, on the effective date of this Agreement, the filing of all appropriate
financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the sale of the Receivables from FTH LLC to the Purchaser, and the security interest in the Receivables granted to the
Purchaser hereunder; and the Servicer, in its capacity as custodian, has in its possession the original copies of such instruments or tangible chattel paper that constitute or evidence the Receivables, and all financing statements referred to in
this paragraph contain a statement that: “A purchase of or security interest in any collateral described in this financing statement will violate the rights of the Secured Party/Purchaser”. 

7. With respect to Receivables that constitute an instrument or tangible chattel paper, either: 

 

	 	a.	All original executed copies of each such instrument or tangible chattel paper have been delivered to the Indenture Trustee, as pledgee of the Issuer; or

  

	 	b.	Such instruments or tangible chattel paper are in the possession of the Servicer and the Indenture Trustee has received a written acknowledgment from the Servicer that
the Servicer (in its capacity as custodian) is holding such instruments or tangible chattel paper solely on behalf and for the benefit of the Indenture Trustee, as pledgee of the Issuer; or 

 

	 	c.	The Servicer received possession of such instruments or tangible chattel paper after the Indenture Trustee received a written acknowledgment from the Servicer that the
Servicer is acting solely as agent of the Indenture Trustee, as pledgee of the Issuer. 

 Priority

 8. FTH LLC has not authorized the filing of, and is not aware of any financing statements against FTH LLC that
include a description of collateral covering the Receivables other than any financing statement (i) relating to the conveyance of the Receivables by the Bank to FTH LLC under the Receivables Sale Agreement, (ii) relating to the conveyance
of the Receivables by FTH LLC to the Purchaser under the Purchase Agreement, (iii) relating to the conveyance of the Receivables by the Purchaser to the Issuer under the Sale Agreement, (iv) relating to the security interest granted to the
Indenture Trustee under the Indenture or (v) that has been terminated. 
 9. FTH LLC is not aware of any material judgment,
ERISA or tax lien filings against FTH LLC. 
 10. Neither FTH LLC nor a custodian or vaulting agent thereof holding any
Receivable that is electronic chattel paper has communicated an “authoritative copy” (as such term is used in Section 9-105 of the UCC) of any loan agreement that constitutes or evidences such Receivable to any Person other than the
Servicer. 

  

					
		 	Schedule II-2	  	Purchase Agreement (2013-A)

 11. None of the instruments, electronic chattel paper or tangible chattel paper that
constitutes or evidences the Receivables has any marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person other than FTH LLC, the Purchaser, the Issuer or the Indenture Trustee. 

Survival of Perfection Representations 
 12. Notwithstanding any other provision of the Purchase Agreement or any other Transaction Document, the perfection representations, warranties and covenants contained in this Schedule II
shall be continuing, and remain in full force and effect until such time as all obligations under the Transaction Documents and the Notes have been finally and fully paid and performed. 

No Waiver 
 13. The Purchaser shall provide the Rating Agencies with prompt written notice of any material breach of the perfection representations, warranties and covenants contained in this Schedule II,
and shall not, without satisfying the Rating Agency Condition, waive a breach of any of such perfection representations, warranties or covenants. 

  

					
		 	Schedule II-3	  	Purchase Agreement (2013-A)EX-10.4

 Exhibit 10.4 
 EXECUTION COPY 
  

 
  

ADMINISTRATION AGREEMENT 
 among 
 FIFTH THIRD AUTO TRUST 2013–A, 

as Issuer 

FIFTH THIRD BANK, 
 as Administrator 
 and 

DEUTSCHE BANK TRUST COMPANY AMERICAS, 
 as Indenture Trustee 
 Dated as of March 28, 2013 

 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	1.	 	 Duties of the Administrator
	  	 	2	  
	2.	 	 Records
	  	 	3	  
	3.	 	 Compensation; Payment of Fees and Expenses
	  	 	3	  
	4.	 	 Independence of the Administrator
	  	 	3	  
	5.	 	 No Joint Venture
	  	 	4	  
	6.	 	 Other Activities of the Administrator
	  	 	4	  
	7.	 	 Representations and Warranties of the Administrator
	  	 	4	  
	8.	 	 Administrator Replacement Events; Termination of the Administrator
	  	 	5	  
	9.	 	 Action upon Termination or Removal
	  	 	7	  
	10.	 	 Liens
	  	 	7	  
	11.	 	 Notices
	  	 	7	  
	12.	 	 Compliance with the FDIC Rule
	  	 	7	  
	13.	 	 Amendments
	  	 	7	  
	14.	 	 Governing Law; Submission to Jurisdiction; Waiver of Jury Trial
	  	 	8	  
	15.	 	 Headings
	  	 	9	  
	16.	 	 Counterparts
	  	 	9	  
	17.	 	 Entire Agreement
	  	 	9	  
	18.	 	 Severability of Provisions
	  	 	9	  
	19.	 	 Not Applicable to The Bank in Other Capacities
	  	 	9	  
	20.	 	 Benefits of the Administration Agreement
	  	 	10	  
	21.	 	 Delegation of Duties
	  	 	10	  
	22.	 	 Assignment
	  	 	10	  
	23.	 	 Nonpetition Covenant
	  	 	10	  
	24.	 	 Limitation of Liability
	  	 	11	  

  

					
		  	i	  	 Administration Agreement
 (2013-A)

 THIS ADMINISTRATION AGREEMENT (as amended, supplemented or otherwise modified and in effect
from time to time, this “Agreement”), dated as of March 28, 2013, is among FIFTH THIRD AUTO TRUST 2013-A, a Delaware statutory trust (the “Issuer”), FIFTH THIRD BANK, an Ohio banking corporation as
administrator (the “Bank” or in its capacity as administrator, the “Administrator”), and DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York trust company, as indenture trustee (the “Indenture
Trustee”). Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned such terms in Appendix A to the Sale Agreement dated as of March 28, 2013 (as amended, supplemented or otherwise modified
and in effect from time to time, the “Sale Agreement”) by and between Fifth Third Holdings Funding, LLC (the “Seller”), as seller and the Issuer, which contains rules as to usage that are applicable herein.

 W I T N E S S E T H : 
 WHEREAS, the Seller and Wilmington Trust, National Association (the “Owner Trustee”) have entered into the Amended and Restated Trust Agreement dated as of March 28, 2013 (as
amended, supplemented or otherwise modified and in effect from time to time, the “Trust Agreement”); 

WHEREAS, the Issuer has issued the Notes pursuant to the Indenture and the Certificate pursuant to the Trust Agreement and has entered
into certain agreements in connection therewith, including, (i) the Sale Agreement, (ii) the Indenture, (iii) the Note Depository Agreement and (iv) the Servicing Agreement (the Trust Agreement and each of the agreements referred
to in clauses (i) through (iv) are referred to herein collectively as the “Issuer Documents”); 
 WHEREAS, to secure payment of the Notes, the Issuer has pledged the Collateral to the Indenture Trustee pursuant to the Indenture; 
 WHEREAS, pursuant to the Issuer Documents, the Issuer is required to perform certain duties; 
 WHEREAS, the Issuer desires to have the Administrator perform certain of the duties of the Issuer, and to provide such additional services consistent with this Agreement and the Issuer Documents as the
Issuer may from time to time request; 
 WHEREAS, the Administrator has the capacity to provide the services required hereby and
is willing to perform such services for the Issuer on the terms set forth herein; 
 NOW, THEREFORE, in consideration of the
mutual terms and covenants contained herein, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows: 

  

					
		  		  	 Administration Agreement
 (2013-A)

 1. Duties of the Administrator. 

(a) Duties with Respect to the Issuer Documents. The Administrator shall perform all of its duties as Administrator
under this Agreement and the Issuer Documents and the duties and obligations of the Issuer under the Issuer Documents; provided, however, except as otherwise provided in the Issuer Documents, that the Administrator shall have no
obligation to make any payment required to be made by the Issuer under any Issuer Document. In addition, the Administrator shall consult with the Issuer and the Owner Trustee regarding the Issuer’s duties and obligations under the Issuer
Documents. The Administrator shall monitor the performance of the Issuer and shall advise the Issuer when action is necessary to comply with the Issuer’s duties and obligations under the Issuer Documents. Other than such items to be performed
by the Owner Trustee pursuant to Section 5.4 of the Trust Agreement and by the Indenture Trustee pursuant to Section 6.6(a) and (b) of the Indenture, the Administrator 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, notices and opinions as it shall be the duty of the Issuer to
prepare, file or deliver pursuant to the Issuer Documents. In furtherance of the foregoing, the Administrator shall take all appropriate action that is the duty of the Issuer to take pursuant to the Issuer Documents, and shall prepare, execute, file
and deliver on behalf of the Issuer or the Owner Trustee all such documents, reports, filings, instruments, certificates, notices and opinions as it shall be the duty of the Issuer to prepare, file or deliver pursuant to the Issuer Documents or
otherwise by law. 
 (b) Notices to Rating Agencies. The Administrator, on behalf of the Issuer, shall
give notice to each Rating Agency of (i) any material breach of the perfection representations, warranties and covenants contained in Schedule II of the Purchase Agreement, Schedule II of the Receivables Sale Agreement,
Schedule III of the Sale Agreement and Schedule I of the Indenture; (ii) the termination of, and/or appointment of a successor to, the Servicer pursuant to Sections 6.1 and 6.2 of the Servicing Agreement;
(iii) any waiver of a Servicer Replacement Event pursuant to Section 6.1(b) of the Servicing Agreement; (iv) any amendment to the Servicing Agreement pursuant to Section 8.1 of the Servicing Agreement; (v) any
Officer’s Certificate delivered pursuant to Section 3.12 of the Indenture with respect to any Event of Default under the Indenture; (vi) any officer’s certificate of the Issuer delivered pursuant to Section 3.9
of the Indenture; (vii) any resignation or removal of the Indenture Trustee pursuant to Section 6.8 of the Indenture; (viii) any merger or consolidation of the Indenture Trustee pursuant to Section 6.9 of the
Indenture; (ix) any notice of Default pursuant to Section 6.5 of the Indenture; (x) any supplemental indenture pursuant to Sections 9.1 or 9.2 of the Indenture; (xi) any notice of merger, consolidation or
succession of the Servicer pursuant to Section 5.3 of the Servicing Agreement; (xii) any amendment pursuant to Section 13 of this Agreement; which notice shall be given; (xiii) any merger or consolidation of the
Seller pursuant to Section 3.3 of the Sale Agreement, in the case of each of (i) through (xiii), promptly upon the Administrator being notified thereof by the Depositor, the Owner Trustee, the Indenture Trustee or the
Servicer. 

  

					
		 	2	 	 Administration Agreement
 (2013-A)

 (c) Upon dissolution of the Issuer, the Administrator shall wind up the
business and affairs of the Issuer in accordance with Section 9.2 of the Trust Agreement. 
 (d)
No Action by Administrator. Notwithstanding anything to the contrary in this Agreement, the Administrator shall not be obligated to, and shall not, take any action that the Issuer directs the Administrator not to take or which would result in
a violation or breach of the Issuer’s covenants, agreements or obligations under any of the Issuer Documents. 
 (e) Non-Ministerial Matters; Exceptions to Administrator Duties. 
 (i) Notwithstanding anything to the contrary in this Agreement, with respect to matters that in the reasonable judgment of the Administrator are non-ministerial, the Administrator shall not take any
action unless, within a reasonable time before the taking of such action, the Administrator shall have notified the Issuer of the proposed action and the Issuer shall not have withheld consent or provided an alternative direction. For the purpose of
the preceding sentence, “non-ministerial matters” shall include, without limitation: 
 (A) 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; 
 (B) the appointment of successor Note Registrars, successor Paying Agents, successor Indenture Trustees, successor Administrators or successor Servicers, or the consent to the assignment by the Note
Registrar, the Paying Agent or the Indenture Trustee of its obligations under the Indenture; and 
 (C) the
removal of the Indenture Trustee. 
 (ii) Notwithstanding anything to the contrary in this Agreement, the
Administrator shall not be obligated to, and shall not, (x) make any payments to the Noteholders under the Transaction Documents, (y) except as provided in the Transaction Documents, sell the Trust Estate or (z) take any other action
that the Issuer directs the Administrator not to take on its behalf. 
 2. Records. The Administrator shall maintain
appropriate books of account and records relating to services performed hereunder, which books of account and records shall be accessible for inspection upon reasonable written request by the Issuer, the Seller and the Indenture Trustee at any time
during normal business hours. 
 3. Compensation; Payment of Fees and Expenses. As compensation for the performance of
the Administrator’s obligations under this Agreement and as reimbursement for its expenses related thereto, the Administrator shall be entitled to receive $12,000 annually which shall be solely an obligation of the Servicer. The Administrator
shall pay all expenses incurred by it in connection with its activities hereunder. 
 4. Independence of the
Administrator. For all purposes of this Agreement, the Administrator shall be an independent contractor and shall not be subject to the supervision of 

  

					
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the Issuer with respect to the manner in which it accomplishes the performance of its obligations hereunder. Unless expressly authorized by the Issuer, the Administrator shall have no authority
to act for or to represent the Issuer in any way (other than as permitted hereunder) and shall not otherwise be deemed an agent of the Issuer. 
 5. No Joint Venture. Nothing contained in this Agreement (i) shall constitute the Administrator and the Issuer as members of any partnership, joint venture, association, syndicate,
unincorporated business or other separate entity, (ii) shall be construed to impose any liability as such on the Administrator or the Issuer or (iii) shall be deemed to confer on the Administrator or the Issuer any express, implied or
apparent authority to incur any obligation or liability on behalf of the other. 
 6. Other Activities of the
Administrator. Nothing herein shall prevent the Administrator or its Affiliates from engaging in other businesses or, in its sole discretion, from acting in a similar capacity as an Administrator for any other Person even though such Person may
engage in business activities similar to those of the Issuer, the Owner Trustee or the Indenture Trustee. 
 7.
Representations and Warranties of the Administrator. The Administrator represents and warrants to the Issuer and the Indenture Trustee as follows: 
 (a) Existence and Power. The Administrator is a banking corporation validly existing and in good standing under the laws of its state of organization and has, in all material respects, all power
and authority to carry on its business as now conducted. The Administrator has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the Administrator to
perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Collateral. 
 (b) Authorization and No Contravention. The execution, delivery and performance by the Administrator of the Transaction Documents to which it is a party (i) have been duly authorized by
all necessary action on the part of the Administrator and (ii) do not contravene or constitute a default under (A) any applicable law, rule or regulation, (B) its organizational documents or (C) any material agreement, contract,
order or other instrument to which it is a party or its property is subject (other than violations which do not affect the legality, validity or enforceability of any of such agreements and which, individually or in the aggregate, would not
materially and adversely affect the transactions contemplated by, or the Administrator’s ability to perform its obligations under, the Transaction Documents). 

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

  

					
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and adversely affect the ability of the Administrator to perform its obligations under the Transaction Documents. 

(d) Binding Effect. Each Transaction Document to which the Administrator is a party constitutes the legal, valid
and binding obligation of the Administrator enforceable against the Administrator in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership,
conservatorship or other similar laws affecting the enforcement of creditors’ rights generally and, if applicable, the rights of creditors of banking corporations from time to time in effect or by general principles of equity. 

8. Administrator Replacement Events; Termination of the Administrator. 

(a) Subject to clauses (d) and (e) below, the Administrator may resign from its duties hereunder
by providing the Issuer with at least sixty (60) days’ prior written notice. 
 (b) Subject to
clauses (d) and (e) below, the Issuer may remove the Administrator without cause by providing the Administrator with at least sixty (60) days’ prior written notice; provided, that, for so long as any Notes
are Outstanding, the Rating Agency Condition shall have been satisfied in connection therewith. 
 (c) The
occurrence of any one of the following events (each, an “Administrator Replacement Event”) shall also entitle the Issuer, subject to Section 21 hereof, to terminate and replace the Administrator: 

(i) any failure by the Administrator to deliver or cause to be delivered to the Indenture Trustee or the Owner Trustee for
deposit into the Collection Account any payment required to be so delivered by the Administrator under the terms of this Agreement, which failure continues unremedied for five (5) Business Days after discovery thereof by a Responsible Officer
of the Administrator or receipt by a Responsible Officer of the Administrator of written notice thereof from the Indenture Trustee or Noteholders evidencing at least a majority of the Note Balance (or, if no Notes are Outstanding, from the Majority
Certificateholders); 
 (ii) any failure by the Administrator to duly observe or perform in any material respect
any other of its covenants or agreements in this Agreement, which failure materially and adversely affect the rights of the Issuer, the Noteholders or the Certificateholders, and which continues unremedied for ninety (90) days after discovery
thereof by a Responsible Officer of the Administrator or receipt by the Administrator of written notice thereof from the Indenture Trustee or Noteholders evidencing at least a majority of the Outstanding Note Balance (or, if no Notes are
Outstanding, by the Majority Certificateholders); 
 (iii) any representation or warranty of the Administrator
made in this Agreement or any certificate delivered by the Administrator pursuant to this Agreement proves to have been incorrect in any material respect when made, which failure materially and adversely affects the rights of the Issuer, the

  

					
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Noteholders or the Certificateholders, and which failure continues unremedied for ninety (90) days after discovery thereof by a Responsible Officer of the Administrator or receipt by the
Administrator of written notice thereof from the Indenture Trustee or Noteholders evidencing at least a majority of the Outstanding Note Balance. 
 (iv) the Administrator suffers a Bankruptcy Event; 
 provided,
further, that (A) if any delay or failure of performance referred to in clause (i) above shall have been caused by force majeure or other similar occurrence, the five Business Day grace period referred to in such clause
(i) shall be extended for an additional sixty 60 calendar days and (B) if any delay or failure of performance referred to in clause (b) above shall have been caused by force majeure or other similar occurrence, the ninety
(90) day grace period referred to in such clause (ii) or clause (iii) shall be extended for an additional sixty (60) calendar days. The existence or occurrence of any “material instance of noncompliance”
(within the meaning of Item 1122 of Regulation AB) shall not create any presumption that any event in clauses (i), (ii) or (iii) above has occurred. 

(d) If an Administrator Replacement Event shall have occurred, the Issuer may, subject to Section 21 hereof,
by notice given to the Administrator and the Owner Trustee, terminate all or a portion of the rights and powers of the Administrator under this Agreement, including the rights of the Administrator to receive the annual fee for services hereunder for
all periods following such termination; provided, however, that such termination shall not become effective until such time as the Issuer, subject to Section 21 hereof, shall have appointed a successor Administrator in the
manner set forth below. Upon any such termination, all rights, powers, duties and responsibilities of the Administrator under this Agreement shall vest in and be assumed by any successor Administrator appointed by the Issuer, subject to
Section 21 hereof, pursuant to a management or administration agreement between the Issuer and such successor Administrator, containing substantially the same provisions as this Agreement (including with respect to the compensation of
such successor Administrator), and the successor Administrator is hereby irrevocably authorized and empowered to execute and deliver, on behalf of the Administrator, as attorney-in-fact or otherwise, all documents and other instruments, and to do or
accomplish all other acts or things necessary or appropriate to effect such vesting and assumption. Further, in such event, the Administrator shall use its commercially reasonable efforts to effect the orderly and efficient transfer of the
administration of the Issuer to the new Administrator. 
 (e) The Issuer, subject to Section 21
hereof, may waive in writing any Administrator Replacement Event by the Administrator in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past Administrator Replacement Event, such Administrator
Replacement Event shall cease to exist, and any Administrator Replacement Event arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other Administrator
Replacement Event or impair any right consequent thereon. 

  

					
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 9. Action upon Termination or Removal. Promptly upon the effective date of
termination of this Agreement pursuant to Section 8, or the removal of the Administrator pursuant to Section 8, the Administrator shall be entitled to be paid by the Servicer all fees and reimbursable expenses accruing to it
to the date of such termination or removal. 
 10. Liens. The Administrator will not directly or indirectly create, allow
or suffer to exist any Lien on the Collateral other than Permitted Liens. 
 11. Notices. All demands, notices and
communications hereunder shall be in writing and shall be delivered or mailed by registered or certified first-class United States mail, postage prepaid, hand delivery, prepaid courier service, by facsimile or, if so provided on Schedule II
to the Sale Agreement, by electronic transmission, and addressed in each case as specified on Schedule II to the Sale Agreement or at such other address as shall be designated by any of the specified addressees in a written notice to the
other parties hereto. Delivery shall occur only upon receipt or reported tender of such communication by an officer of the recipient entitled to receive such notices located at the address of such recipient for notices hereunder. 

12. Compliance with the FDIC Rule. Administrator (i) shall perform the covenants set forth in Article XII of the
Indenture applicable to it and (ii) shall facilitate compliance with Article XII of the Indenture by the Fifth Third Parties. 
 13. Amendments. 
 (a) Any term or provision of this
Agreement may be amended by the Administrator without the consent of the Indenture Trustee, any Noteholder, the Issuer, the Owner Trustee or any other Person subject to the satisfaction of one of the following conditions: 

(i) The Administrator delivers an Opinion of Counsel or an Officer’s Certificate to the Indenture Trustee to the
effect that such amendment will not materially and adversely affect the interests of the Noteholders; or 
 (ii)
The Rating Agency Condition is satisfied with respect to such amendment and the Administrator notifies the Indenture Trustee in writing that the Rating Agency Condition is satisfied with respect to such amendment. 

(b) This Agreement may also be amended from time to time by the Administrator and the Indenture Trustee, with the consent
of (i) the Holders of Notes evidencing not less than a majority of the Outstanding Note Balance of the Controlling Class and (ii) the Majority Certificateholders, for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders or the Certificateholders. It will not be necessary for the consent of Noteholders or Certificateholders to approve the particular form
of any proposed amendment or consent, but it will be sufficient if such consent approves the substance thereof. The manner of obtaining such consents (and any other consents of Noteholders and Certificateholders provided for in this Agreement) and
of evidencing the authorization of the execution thereof by Noteholders and Certificateholders will be subject to such reasonable requirements as the Indenture 

  

					
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Trustee and Owner Trustee may prescribe, including the establishment of record dates pursuant to the Note Depository Agreement. 

(c) Prior to the execution of any amendment pursuant to this Section 13, the Administrator shall provide
written notification of the substance of such amendment to each Rating Agency and the Owner Trustee; and promptly after the execution of any such amendment, the Administrator shall furnish a copy of such amendment to each Rating Agency, the Owner
Trustee and the Indenture Trustee; provided, that no amendment pursuant to this Section 13 shall be effective which materially and adversely affects the rights, protections or duties of the Indenture Trustee or the Owner Trustee
without the prior written consent of such Person. 
 (d) Prior to the execution of any amendment to this
Agreement, the Owner Trustee and the Indenture Trustee shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and an Officer’s
Certificate of the Depositor or the Administrator that all conditions precedent to the execution and delivery of such amendment have been satisfied. The Owner Trustee and the Indenture Trustee may, but shall not be obligated to, enter into any such
amendment which materially and adversely affects the Owner Trustee’s or the Indenture Trustee’s, as applicable, own rights, privileges, indemnities, duties or obligations under this Agreement, the Transaction Documents or otherwise.

 (e) Notwithstanding subsection (a) of this Section 13, this Agreement may only be amended by
the Administrator if (i) the Majority Certificateholders consent to such amendment or (ii) such amendment shall not, as evidenced by an Officer’s Certificate of the Administrator or an Opinion of Counsel delivered to the Indenture
Trustee and the Owner Trustee, materially and adversely affect the interests of the Certificateholders. 
 14. Governing Law;
Submission to Jurisdiction; Waiver of Jury Trial. 
 (a) THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE INTERNAL, SUBSTANTIVE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO CONFLICTS OF LAW, OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE OBLIGATIONS,
RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 (b) Each of
the parties hereto hereby irrevocably and unconditionally: 
 (i) submits for itself and its property in any
legal action or Proceeding relating to this Agreement or any 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, 

  

					
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the courts of the United States of America for the Southern District of New York and appellate courts from any thereof; 

(ii) consents that any such action or Proceeding may be brought in such courts and waives any objection that it may now or
hereafter have to the venue of such action or Proceeding in any such court or that such action or Proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 

(iii) agrees that service of process in any such action or Proceeding may be effected by mailing a copy thereof by
registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Person at its address determined in accordance with Section 11 of this Agreement; 

(iv) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law
or shall limit the right to sue in any other jurisdiction; and 
 (v) to the extent permitted by applicable
law, each party hereto irrevocably waives all right of trial by jury in any action, Proceeding or counterclaim based on, or arising out of, under or in connection with this Agreement, any other Transaction Document, or any matter arising hereunder
or thereunder. 
 15. Headings. The section headings hereof have been inserted for convenience of reference only and
shall not be construed to affect the meaning, construction or effect of this Agreement. 
 16. Counterparts. This
Agreement may be executed in any number of counterparts (including by way of electronic or facsimile transmission), each of which so executed shall be deemed to be an original, but all of such counterparts shall together constitute but one and the
same instrument. 
 17. Entire Agreement. The Transaction Documents contain a final and complete integration of all prior
expressions by the parties hereto with respect to the subject matter thereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter thereof, superseding all prior oral or written understandings. There
are no unwritten agreements among the parties. 
 18. Severability of Provisions. If any one or more of the covenants,
agreements, provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this
Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement. 
 19. Not
Applicable to The Bank in Other Capacities. (a) Nothing in this Agreement shall affect any obligation the Bank may have in any other capacity. 

  

					
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 (b) Any entity (i) into which the Administrator may be merged or
converted or with which it may be consolidated, to which it may sell or transfer its business and assets as a whole or substantially as a whole or any entity resulting from any merger sale, transfer, conversion or consolidation to which the
Administrator shall be a party, or any entity succeeding to the business of the Administrator or (ii) more than 50% of the voting stock or voting power and 50% or more of the economic equity of which is owned directly or indirectly by Fifth
Third Bancorp and which executes an agreement of assumption to perform every obligation of the Administrator under this Agreement, shall be the successor to the Administrator under this Agreement, in each case, without the execution or filing of any
paper of any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. 
 20.
Benefits of the Administration Agreement. Nothing in this Agreement, expressed or implied, shall give to any Person other than the parties hereto and their successors hereunder, the Owner Trustee, any separate trustee or co-trustee appointed
under Section 6.10 of the Indenture and the Noteholders, any benefit or any legal or equitable right, remedy or claim under this Agreement. For the avoidance of doubt, the Owner Trustee is a third party beneficiary of this Agreement and
is entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it were a party hereto. 
 21.
Delegation of Duties. The Administrator may, at any time without notice or consent, delegate (a) any or all of its duties under the Transaction Documents to any of its Affiliates or (b) specific duties to sub-contractors or other
professional services firms (including accountants, outside legal counsel or similar concerns) who are in the business of performing such duties; provided, that no such delegation shall relieve the Administrator of its responsibility with
respect to such duties and the Administrator shall remain obligated hereunder as if the Administrator alone were performing such duties. 
 22. Assignment. Each party hereto hereby acknowledges and consents to the mortgage, pledge, assignment and Grant of a security interest by the Issuer to the Indenture Trustee pursuant to the
Indenture for the benefit of the Noteholders of all of the Issuer’s rights under this Agreement. In addition, the Administrator hereby acknowledges and agrees that for so long as any Notes are outstanding, the Indenture Trustee will have the
right to exercise all waivers and consents, rights, remedies, powers, privileges and claims of the Issuer under this Agreement in the event the Issuer shall fail to exercise the same. 

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

  

					
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benefit of, its creditors generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence or join with any other Person in
commencing any Proceeding against such Bankruptcy Remote Party under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. 

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

			
	FIFTH THIRD AUTO TRUST 2013-A
		
	By:	 	Wilmington Trust, National Association, not in its individual capacity but solely as Owner Trustee
		
	By:	 	 /s/ Erwin M. Soriano

	Name:	 	Erwin M. Soriano
	Title:	 	Assistant Vice President

  

					
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	FIFTH THIRD BANK,
	 as Administrator

		
	By:	 	 /s/ Nathan Steuber

	Name:	 	Nathan Steuber
	Title:	 	Vice President

  

					
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	DEUTSCHE BANK TRUST COMPANY AMERICAS,
	not in its individual capacity but solely as Indenture Trustee
		
	By:	 	 /s/ Irene Siegel

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

	Name:	 	Maria Inoa
	Title:	 	Assistant Vice President

  

					
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