Document:

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                                                                     EXHIBIT 4.5

                               PURCHASE AGREEMENT

        This PURCHASE AGREEMENT is made as of this [______] day of
[____________], by and between NISSAN MOTOR ACCEPTANCE CORPORATION, a California
corporation (the "Seller"), having its principal executive office at 990 W.
190th Street, Torrance, California 90502, and NISSAN AUTO RECEIVABLES
CORPORATION II, a Delaware corporation (the "Purchaser"), having its principal
executive office at 990 W. 190th Street, Torrance, California 90502.

        WHEREAS, in the regular course of its business, the Seller purchases
certain motor vehicle retail installment sale contracts secured by new, near-new
and used automobiles and light duty trucks from motor vehicle dealers.

        WHEREAS, the Seller and the Purchaser wish to set forth the terms
pursuant to which the Receivables (as hereinafter defined) and certain other
property are to be sold by the Seller to the Purchaser, which Receivables will
be transferred by the Purchaser pursuant to the [Pooling and Servicing Agreement
(as hereinafter defined)] [Sale and Servicing Agreement (as hereinafter
defined)], to the NISSAN AUTO RECEIVABLES [GRANTOR] [OWNER] TRUST (the "Trust"),
which will issue [notes backed by such Receivables and the other property of the
Trust (the "Notes") and] certificates representing fractional undivided
interests in such Receivables and the other property of the Trust (the
"Certificates").

        NOW, THEREFORE, in consideration of the foregoing, other good and
valuable consideration, and the mutual terms and covenants contained herein, the
parties hereto agree as follows:

                                    ARTICLE I

                               CERTAIN DEFINITIONS

        Terms not defined in this Agreement shall have the respective meanings
assigned such terms set forth in the [Pooling and Servicing Agreement] [Sale and
Servicing Agreement or Trust Agreement, as the case may be]. As used in this
Agreement, the following terms shall, unless the context otherwise requires,
have the following meanings (such meanings to be equally applicable to the
singular and plural forms of the terms defined):

        "Agreement" means this Purchase Agreement and all amendments hereof and
supplements hereto.

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        "Assignment" means the document of assignment attached to this Agreement
as Exhibit A.

        "Certificates" shall have the meaning specified in the introductory
paragraphs of this Agreement.

        "Closing" shall have the meaning specified in Section 2.2.

        "Closing Date" means [________________].

        "Collections" means all amounts collected by the Servicer (from whatever
source) on or with respect to the Receivables.

        "Damages" shall have the meaning specified in Section 5.4(a).

        "Distribution Date" means, for each Collection Period, the 15th day of
the following month or, if such 15th day is not a Business Day, the next
succeeding Business Day.

        ["Notes" shall have the meaning specified in the introductory paragraphs
of this Agreement.]

        ["Pooling and Servicing Agreement" means the Pooling and Servicing
Agreement by and among the Seller, as servicer and in its individual capacity,
the Purchaser, and [ ], as trustee (the "Trustee"), dated as of [ ], as the same
may be amended, amended and restated, supplemented or modified.]

        "Prospectus" has the meaning assigned to such term in the Underwriting
Agreement.

        "Purchaser" means Nissan Auto Receivables Corporation II, a Delaware
corporation, and its successors and assigns.

        "Rating Agency" means [_______________] or any successors thereto.

        "Receivable" means any retail installment sale contract that appears on
the Schedule of Receivables.

        "Receivables Purchase Price" means $[________________].

        "Repurchase Event" shall have the meaning specified in Section 6.2.

        ["Sale and Servicing Agreement" means the Sale and Servicing Agreement
by and among Nissan Auto Receivables Corporation II, as seller, Nissan Motor
Acceptance Corporation, as servicer, and the Trust dated as of [ ], as the same
may be amended, amended and restated, supplemented or modified.]

        "Schedule of Receivables" means the list of Receivables annexed to the
Assignment as Schedule A thereto.

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        ["Securities" means the Notes and the Certificates.]

        "Seller" means Nissan Motor Acceptance Corporation, a California
corporation, and its successors and assigns.

        "Trust" means the Nissan Auto Receivables [____ - ___][Grantor] [Owner]
Trust.

        ["Trust Agreement" means the Amended and Restated Trust Agreement by and
between Nissan Auto Receivables Corporation II, as seller, and [ ], as trustee
(the "Trustee"), dated as of [ ], as the same may be amended, amended and
restated, supplemented or modified.]

        "UCC" means the Uniform Commercial Code as in effect in the relevant
jurisdiction.

        "Underwriting Agreement" means the Underwriting Agreement by and between
[______] and the Purchaser, dated [____________, ____].

        ["Yield Supplement Agreement" means the agreement, dated as of the date
of this Agreement, among the Purchaser, the Seller, [__________], as Indenture
Trustee, and the Trust.]

        With respect to all terms in this Agreement, the singular includes the
plural and the plural the singular; words importing any gender include the other
genders; references to "writing" include printing, typing, lithography and other
means of reproducing words in a visible form; references to agreements and other
contractual instruments include all subsequent amendments, amendments and
restatements and supplements thereto or changes therein entered into in
accordance with their respective terms and not prohibited by this Agreement;
references to Persons include their permitted successors and assigns; references
to laws include their amendments and supplements, the rules and regulations
thereunder and any successors thereto; and the term "including" means "including
without limitation."

                                   ARTICLE II

                        PURCHASE AND SALE OF RECEIVABLES

        2.1 Purchase and Sale of Receivables.

        On the Closing Date, subject to the terms and conditions of this
Agreement, the Seller agrees to sell to the Purchaser, and the Purchaser agrees
to purchase from the Seller, the Receivables and the other property relating
thereto (as defined below).

        (a) Transfer of Receivables. On the Closing Date and simultaneously with
the transactions pursuant to the [Pooling and Servicing Agreement] [Sale and

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Servicing Agreement], the Seller shall sell, transfer, assign and otherwise
convey to the Purchaser, without recourse,

            (i) all right, title and interest of the Seller in and to the
        Receivables (including all related Receivable Files) and all monies due
        thereon or paid thereunder or in respect thereof after the Cutoff Date;

            (ii) the right of the Seller in the security interests in the
        Financed Vehicles granted by the Obligors pursuant to the Receivables
        and any related property;

            (iii) the right of the Seller in any proceeds from claims on any
        physical damage, credit life, credit disability or other insurance
        policies covering Financed Vehicles or Obligors;

            (iv) the right of the Seller to receive payments in respect of any
        Dealer Recourse with respect to the Receivables;

            (v) the right of the Seller to realize upon any property (including
        the right to receive future Net Liquidation Proceeds) that shall have
        secured a Receivable;

            (vi) the right of the Seller in rebates of premiums and other
        amounts relating to insurance policies and other items financed under
        the Receivables in effect as of the Cutoff Date; and

            (vii) all proceeds of the foregoing;

provided, that the Seller shall not be required to deliver to the Purchaser on
the Closing Date monies received in respect of the Receivables after the Cutoff
Date and before the Closing Date but shall or shall cause the Servicer to
deposit such monies into the Collection Account no later than the first Record
Date after the Closing Date.

        (b) Receivables Purchase Price. In consideration for the Receivables and
other properties described in Section 2.1(a), the Purchaser shall, on the
Closing Date, pay to the Seller the Receivables Purchase Price. An amount equal
to approximately [ ]% of the Receivables Purchase Price shall be paid to the
Seller in cash by federal wire transfer (same day) funds. The remaining
approximately [ ]% of the Receivables Purchase Price shall be deemed paid by the
Purchaser to the Seller and then immediately returned by the Seller to the
Purchaser as a contribution to capital.

        2.2 The Closing. The sale and purchase of the Receivables shall take
place at a closing (the "Closing") at the offices of [ ] on the Closing Date,
simultaneously with the closings under: (a) the [Pooling and Servicing
Agreement] [Sale and Servicing Agreement] pursuant to which (i) the Purchaser
will assign all of its right, title and interests in and to the Receivables and
other property conveyed pursuant to Section 2.1(a) to the Trust for the benefit
of the [Certificateholders] [Securityholders]; and (ii) the Purchaser will
deposit the foregoing into the Trust in exchange for [the

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Certificates][the Securities]; and (b) the Underwriting Agreement, pursuant to
which the Purchaser will sell to the underwriters named therein [the Class A
Certificates and the Class B Certificates] [the Class A-1 Notes, the Class A-2
Notes, the Class A-3 Notes, the Class B Notes and the Class C Certificates].

                                   ARTICLE III

                         REPRESENTATIONS AND WARRANTIES

        3.1 Warranties of the Purchaser. The Purchaser hereby represents and
warrants to the Seller as of the date hereof and as of the Closing Date:

        (a) Organization, etc. The Purchaser has been duly organized and is
validly existing as a corporation in good standing under the laws of the State
of Delaware, with corporate power and authority to execute and deliver this
Agreement and to perform the terms and provisions hereof.

        (b) Due Authorization and No Violation. This Agreement has been duly
authorized, executed and delivered by the Purchaser, and constitutes a legal,
valid and binding obligation of the Purchaser, enforceable in accordance with
its terms, subject to the effect of bankruptcy, insolvency, reorganization,
moratorium or other similar laws affecting creditors' rights generally and to
general equitable principles. The consummation of the transactions contemplated
by this Agreement and the fulfillment of the terms hereof do not conflict with,
result in a breach of any of the terms or provisions of, nor constitute (with or
without notice or lapse of time) a default under, or result in the creation or
imposition of any Lien to the Purchaser upon any of the property or assets of
the Purchaser pursuant to the terms of, any indenture, mortgage, deed of trust,
loan agreement, guarantee, lease financing agreement or similar agreement or
instrument under which the Purchaser is a debtor or guarantor, nor will such
action result in any violation of the provisions of the Certificate of
Incorporation or the By-laws of the Purchaser; which breach, default, conflict,
Lien or violation in any case would have a material adverse effect on the
ability of the Seller to perform its obligations under this Agreement.

        (c) No Litigation. There are no proceedings or investigations pending to
which the Purchaser is a party or of which any property of the Purchaser is the
subject, and, to the best of the Purchaser's knowledge, no such proceedings are
threatened or contemplated by governmental authorities or threatened by others;
other than such proceedings that would not have a material adverse effect upon
the ability of the Purchaser to perform its obligations under, or the validity
and enforceability of, this Agreement.

        3.2 Representations and Warranties of the Seller. (a) The Seller hereby
represents and warrants to the Purchaser as of the date hereof and as of the
Closing Date:

            (i) Organization, etc. The Seller has been duly organized and is
        validly existing as a corporation in good standing under the laws of the
        State of

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        California and is in good standing in each jurisdiction in the United
        States of America in which the conduct of its business or the ownership
        of its property requires such qualification and where the failure to so
        qualify would have a material adverse effect on the ability of the
        Seller to perform its obligations under this Agreement.

            (ii) Power and Authority. The Seller has the corporate power and
        authority to sell and assign the property sold and assigned to the
        Purchaser hereunder and has duly authorized such sale and assignment to
        the Purchaser by all necessary corporate action. This Agreement has been
        duly authorized, executed and delivered by the Seller and constitutes a
        legal, valid and binding obligation of the Seller, enforceable in
        accordance with its terms, subject to the effect of bankruptcy,
        insolvency, reorganization, moratorium or other similar laws affecting
        creditors' rights generally and by general equitable principles.

            (iii) No Violation. The consummation of the transaction contemplated
        by this Agreement, and the fulfillment of the terms hereof, do not
        conflict with, or result in a breach of any of the terms or provisions
        of, nor constitute (with or without notice or lapse of time) a default
        under, or result in the creation or imposition of any Lien upon any of
        the property or assets of the Seller pursuant to the terms of, any
        indenture, mortgage, deed of trust, loan agreement, guarantee, lease
        financing agreement or similar agreement or instrument under which the
        Seller is a debtor or guarantor, nor will such action result in any
        violation of the provisions of the Articles of Incorporation or the
        By-Laws of the Seller; which breach, default, conflict, Lien or
        violation in any case would have a material adverse effect on the
        ability of the Seller to perform its obligations under this Agreement.

            (iv) No Proceedings. There are no proceedings or investigations
        pending to which the Seller is a party or of which any property of the
        Seller is the subject, and, to the best of the Seller's knowledge, no
        such proceedings are threatened or contemplated by governmental
        authorities or threatened by others, other than such proceedings that
        would not have a material adverse effect upon the ability of the Seller
        to perform its obligations under, or the validity and enforceability of,
        this Agreement.

        (b) The Seller makes the following representations and warranties as to
the Receivables on which the Purchaser relies in accepting the Receivables. Such
representations and warranties speak as of the execution and delivery of this
Agreement, but shall survive the sale, transfer, and assignment of the
Receivables to the Purchaser hereunder and the subsequent assignment and
transfer pursuant to the [Pooling and Servicing Agreement] [Sale and Servicing
Agreement]:

            (i) Characteristics of Receivables. Each Receivable (a) has been
        originated in the United States of America by a Dealer for the retail
        sale of a Financed Vehicle in the ordinary course of such Dealer's
        business, has been fully and properly executed by the parties thereto,
        has been purchased by the Seller

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        from such Dealer under an existing dealer agreement with the Seller, and
        has been validly assigned by such Dealer to the Seller, (b) created a
        valid, subsisting and enforceable security interest in favor of the
        Seller in such Financed Vehicle, (c) 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, (d) provides for level monthly payments (provided that the
        payment in the first or last month in the life of the Receivable may be
        minimally different from the level payment) that fully amortize the
        Amount Financed over an original term of no greater than [____] months,
        and (e) provides for interest at the related Annual Percentage Rate.

            (ii) Schedule of Receivables. The information set forth in Schedule
        A to this Agreement was true and correct in all material respects as of
        the opening of business on the Cutoff Date; the Receivables were
        selected at random from the Seller's retail installment sale contracts
        (other than contracts originated in Alabama [or Hawaii]) meeting the
        criteria of the Trust set forth in the [Pooling and Servicing Agreement]
        [Sale and Servicing Agreement]; and no selection procedures believed to
        be adverse to the [Certificateholders] [Securityholders] were utilized
        in selecting the Receivables.

            (iii) Compliance with Law. Each Receivable, the origination of such
        Receivable, and the sale of the Financed Vehicle complied at the time it
        was originated or made and at the execution of this Agreement complies
        in all material respects with all requirements of applicable federal,
        state and local laws, and regulations thereunder, including usury laws,
        the Federal Truth-in-Lending Act, the Equal Credit Opportunity Act, the
        Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the
        Federal Trade Commission Act, the Magnuson-Moss Warranty Act, the
        Soldiers and Sailors Civil Relief Act of 1940, the Federal Reserve
        Board's Regulations B and Z, and state adaptations of the National
        Consumer Credit Protection Act and of the Uniform Consumer Credit Code,
        state "Lemon Laws" designed to prevent fraud in the sale of automobiles
        and other consumer credit laws and equal credit opportunity and
        disclosure laws.

            (iv) Binding Obligation. Each Receivable represents the genuine,
        legal, valid and binding payment obligation in writing of the Obligor,
        enforceable by the holder thereof in accordance with its terms, subject
        to the effect of bankruptcy, insolvency, reorganization, moratorium or
        other similar laws affecting creditors' rights generally and by general
        equitable principles.

            (v) Security Interest in Financed Vehicle. (a) Immediately prior to
        the sale, assignment and transfer thereof to the Purchaser, each
        Receivable was secured by a validly perfected first priority security
        interest in the Financed Vehicle in favor of the Seller as secured party
        or all necessary or all appropriate actions shall have been commenced
        that would result in the valid perfection of a first priority security
        interest in the Financed Vehicle in favor of the Seller as secured
        party, and (b) as of the Cutoff Date, according to the records

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        of the Seller, no Financed Vehicle has been repossessed and the
        possession thereof not reinstated.

            (vi) Receivables in Force. No Receivable has been satisfied,
        subordinated or rescinded, nor has any Financed Vehicle been released
        from the lien granted by the related Receivable in whole or in part.

            (vii) No Waiver. No provision of a Receivable has been waived in
        such a manner that is prohibited by the provisions of the [Pooling and
        Servicing Agreement] [Sale and Servicing Agreement] or that would cause
        such Receivable to fail to meet all of the other requirements and
        warranties made by the Seller herein with respect thereto.

            (viii) No Defenses. No Receivable is subject to any right of
        rescission, setoff, counterclaim or defense, including the defense of
        usury, and the operation of any of the terms of any Receivable, or the
        exercise of any right thereunder, will not render such Receivable
        unenforceable in whole or in part or subject such Receivable to any
        right of rescission, setoff, counterclaim or defense, including the
        defense of usury, and no such right of rescission, setoff, counterclaim
        or defense has been asserted with respect thereto.

            (ix) No Liens. To the Seller's knowledge, no liens have been filed
        for work, labor or materials relating to a Financed Vehicle that shall
        be liens prior to, or equal or coordinate with, the security interest in
        the Financed Vehicle granted by the Receivable.

            (x) No Default. Except for payment defaults continuing for a period
        of not more than 29 days as of the Cutoff Date, no default, breach,
        violation or event permitting acceleration under the terms of any
        Receivable has occurred; and no continuing condition that with notice or
        the lapse of time would constitute a default, breach, violation or event
        permitting acceleration under the terms of any Receivable has arisen
        (other than deferrals and waivers of late payment charges or fees
        permitted under the [Pooling and Servicing Agreement] [Sale and
        Servicing Agreement]).

            (xi) Insurance. The Seller, in accordance with its customary
        procedures, has determined at the time of origination of each Receivable
        that the related Obligor has agreed to obtain physical damage insurance
        covering the Financed Vehicle and the Obligor is required under the
        terms of related Receivable to maintain such insurance.

            (xii) Title. It is the intention of the Seller that the transfer and
        assignment herein contemplated constitute a sale of the Receivables from
        the Seller to the Purchaser and that the beneficial interest in and
        title to the Receivables not be part of the Seller's estate in the event
        of the filing of a bankruptcy petition by or against the Seller under
        any bankruptcy law. Immediately prior to the transfer and assignment
        herein contemplated, the Seller

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        had good and marketable title to each Receivable free and clear of all
        Liens and, immediately upon the transfer thereof, the Purchaser shall
        have good and marketable title to each Receivable, free and clear of all
        Liens and rights of others. Each Receivable File contains the original
        certificate of title (or a photocopy or image thereof) or evidence that
        an application for a certificate of title has been filed. To the extent
        that the transfer and assignment contemplated by this Agreement is
        deemed to be other than a sale, this Agreement and all filing described
        under this Agreement creates a valid and continuing security interest
        (as defined in the applicable UCC) in the Receivables 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 the Seller.

            (xiii) Lawful Assignment. No Receivable has been originated in, or
        shall be subject to the laws of, any jurisdiction under which the sale,
        transfer and assignment of such Receivable under this Agreement or
        pursuant to the [Pooling and Servicing Agreement][Sale and Servicing
        Agreement] are unlawful, void or voidable.

            (xiv) All Filings Made. All filings (including, without limitation,
        UCC filings) necessary in any jurisdiction to give the Purchaser a first
        priority perfected ownership interest in the Receivables have been made
        or have been delivered in form suitable for filing to the Purchaser .

            (xv) Chattel Paper. Each Receivable constitutes "tangible chattel
        paper", as such term is defined in the UCC.

            (xvi) Simple Interest Receivables. All of the Receivables are Simple
        Interest Receivables.

            (xvii) One Original. There is only one original executed copy of
        each Receivable.

            (xviii) No Amendments. No Receivable has been amended such that the
        amount of the Obligor's Scheduled Payments has been increased.

            (xix) APR. The Annual Percentage Rate of each Receivable equals or
        exceeds [___]%.

            (xx) Maturity. As of the Cutoff Date, each Receivable had a
        remaining term to maturity of not less than [_____] payments and not
        greater than [_____] payments.

            (xxi) Balance. Each Receivable had an original principal balance of
        not more than $[____________] and, as of the Cutoff Date, had a
        principal balance of not less than $[______] and not more than
        $[_________].

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            (xxii) Delinquency. No Receivable was more than 29 days past due as
        of the Cutoff Date and no Receivable has been extended by more than two
        months.

            (xxiii) Bankruptcy. No Obligor was the subject of a bankruptcy
        proceeding (according to the records of the Seller) as of the Cutoff
        Date.

            (xxiv) Transfer. Each Receivable prohibits the sale or transfer of
        the Financed Vehicle without the consent of the Seller.

            (xxv) New, Near-New and Used Vehicles. Each Financed Vehicle was a
        new, near-new or used automobile or light-duty truck at the time the
        related Obligor executed the retail installment sale contract.

            (xxvi) Origination. Each Receivable has an origination date on or
        after [_____________].

            (xxvii) Forced-Placed Insurance Premiums. No contract relating to
        any Receivable has had forced-placed insurance premiums added to the
        amount financed.

            (xxviii) No Fraud or Misrepresentation. To the knowledge of the
        Seller, no Receivable was originated by a Dealer and sold by such Dealer
        to the Seller with any conduct constituting fraud or misrepresentation
        on the part of such Dealer.

            (xxix) No Further Amounts Owed on the Receivables. No further
        amounts are owed by the Seller to any Obligor under the Receivables.

            (xxx) No Pledge. Other than the security interest granted to the
        Purchaser pursuant to this Agreement, the Seller has not pledged,
        assigned, sold, granted a security interest in, or otherwise conveyed
        any of the Receivables (except that certain Receivables were conveyed to
        Nissan Warehouse LLC and reconveyed by Nissan Warehouse LLC to the
        Seller in connection with the transactions contemplated under the Note
        Purchase, Security and Administration Agreement (Retail Installment
        Receivables), dated as of August 9, 2001, by and among Nissan Warehouse
        LLC, NMAC, Morgan Guaranty Trust Company of New York and certain
        purchasers and funding agents specified therein). The Seller has not
        authorized the filing of and is not aware of any financing statements
        against the Seller that include a description of collateral covering the
        Receivables other than any financing statement relating to the security
        interest granted to the Purchaser hereunder or a financing statement as
        to which the security interest covering the Receivables has been
        released. The Seller is not aware of any judgment or tax lien filings
        against the Seller.

            (xxxi) Receivable Files. There is no more than one original copy of
        each of the documents or instruments constituting the Receivable Files,
        and to the extent that an original copy has been maintained, the Seller
        has in its

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        possession all such original copies that constitute or evidence the
        Receivables. The Receivable Files that constitute or evidence the
        Receivables do not have any marks or notations indicating that they have
        been pledged, assigned or otherwise conveyed by the Seller to any Person
        other than the Purchaser. All financing statements filed or to be filed
        against the Seller in favor of the Purchaser in connection herewith
        describing the Receivables contain a statement to the following effect:
        "A purchase of or security interest in any collateral described in this
        financing statement, except as provided in the Purchase Agreement, will
        violate the rights of the Purchaser."

                                   ARTICLE IV

                                   CONDITIONS

        4.1 Conditions to Obligation of the Purchaser. The obligation of the
Purchaser to purchase the Receivables and the related property described in
Section 2.1(a) is subject to the satisfaction of the following conditions:

        (a) Representations and Warranties True. The representations and
warranties of the Seller hereunder shall be true and correct in all material
respects on the Closing Date with the same effect as if then made, and the
Seller shall have performed in all material respects all obligations to be
performed by it hereunder on or prior to the Closing Date.

        (b) Computer Files Marked. The Seller shall, at its own expense, on or
prior to the Closing Date, indicate in its computer files that the Receivables
have been sold to the Purchaser pursuant to this Agreement and shall deliver to
the Purchaser the Schedule of Receivables certified by an officer of the Seller
to be true, correct and complete in all material respects.

        (c) Documents to be delivered by the Seller at the Closing.

            (i) The Assignment. At the Closing, the Seller shall execute and
        deliver the Assignment.

            (ii) Evidence of UCC Filing. On or prior to the Closing Date, the
        Seller shall record and file, or deliver in a form suitable for filing
        to the Purchaser, at its own expense, a UCC-1 financing statement in
        each jurisdiction in which required by applicable law, executed by the
        Seller, as seller or debtor, and naming the Purchaser, as purchaser or
        secured party, and the Trust, as assignee of the Purchaser, naming the
        Receivables and the other property conveyed hereunder as collateral,
        meeting the requirements of the laws of each such jurisdiction and in
        such manner as is necessary to perfect the sale, transfer, assignment
        and conveyance of such Receivables and other property conveyed hereunder
        to the Purchaser.

            (iii) Other Documents. At the Closing, the Seller shall deliver such
        other documents as the Purchaser may reasonably request.

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        (d) Other Transactions. The transactions contemplated by the [Pooling
and Servicing Agreement] [Sale and Servicing Agreement] shall be consummated on
the Closing Date.

        4.2 Conditions to Obligation of the Seller. The obligation of the Seller
to sell the Receivables and other property conveyed hereunder to the Purchaser
is subject to the satisfaction of the following conditions:

        (a) Representations and Warranties True. The representations and
warranties of the Purchaser hereunder shall be true and correct in all material
respects on the Closing Date with the same effect as if then made, and the
Purchaser shall have performed in all material respects all obligations to be
performed by it hereunder on or prior to the Closing Date.

        (b) Receivables Purchase Price. On the Closing Date, the Purchaser shall
deliver to the Seller the Receivables Purchase Price, as provided in Section
2.1(b).

                                    ARTICLE V

                             COVENANTS OF THE SELLER

        The Seller agrees with the Purchaser as follows; provided, however,
that, to the extent that any provision of this ARTICLE V conflicts with any
provision of the [Pooling and Servicing Agreement] [Sale and Servicing
Agreement], the [Pooling and Servicing Agreement] [Sale and Servicing Agreement]
shall govern:

        5.1 Protection of Right, Title and Interest.

        (a) The Seller shall execute and file such financing statements and
cause to be executed and filed such continuation statements, all in such manner
and in such places as may be required by law fully to preserve, maintain and
protect the interest of the Purchaser in the Receivables, the other property
conveyed hereunder and the proceeds thereof. The Seller 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) The Seller shall notify the Purchaser within 30 days after any
change of its name, identity or corporate structure in any manner that would,
could or might make any financing statement or continuation statement filed by
the Seller in accordance with paragraph (a) above seriously misleading within
the meaning of Section 9-506 and 9-507 of the UCC, and shall promptly file
appropriate amendments to all previously filed financing statements or
continuation statements.

        (c) The Seller shall notify the Purchaser of any relocation of its
principal executive office or state of incorporation within 30 days after such
relocation, if, as a result of such relocation, the applicable provisions of the
UCC would require the filing of any amendment of any previously filed financing
or continuation statement or of any new financing statement and shall promptly
file any such amendment. The Seller

                                       12

<PAGE>

shall at all times maintain its principal executive office within the United
States of America.

        (d) The Seller shall maintain its computer systems so that, from and
after the time of sale hereunder of the Receivables to the Purchaser, the
Seller's master computer records that refer to a Receivable shall indicate
clearly the interest of the Purchaser in such Receivable and that such
Receivable is owned by the Purchaser.

        (e) If at any time the Seller shall propose to sell, grant a security
interest in, or otherwise transfer any interest in automotive receivables to any
prospective purchaser, lender or other transferee, the Seller shall give to such
prospective purchaser, lender or other transferee computer tapes, records or
print-outs 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.

        (f) The Seller shall permit the Purchaser and its agents at any time
during normal business hours upon reasonable advance notice to inspect, audit
and make copies of and abstracts from the Seller's records regarding any
Receivable.

        5.2 Other Liens or Interests. Except for the conveyances hereunder and
contemplated pursuant to the [Pooling and Servicing Agreement] [Sale and
Servicing Agreement], the Seller shall not sell, pledge, assign or transfer to
any other Person, or grant, create, incur, assume or suffer to exist any Lien on
any interest therein, and the Seller shall defend the right, title and interest
of the Purchaser in, to and under such Receivables against all claims of third
parties claiming through or under the Seller; provided, however, that the
Seller's obligations under this Section 5.2 shall terminate upon the termination
of the Trust pursuant to the [Pooling and Servicing Agreement] [Sale and
Servicing Agreement].

        5.3 Costs and Expenses. The Seller agrees to pay all reasonable costs
and disbursements in connection with the perfection, as against all third
parties, of the Purchaser's right, title and interest in and to the Receivables.

        5.4 Indemnification.

        (a) The Seller shall defend, indemnify and hold harmless the Purchaser
from and against any and all costs, expenses, losses, damages, claims and
liabilities (collectively, "Damages"), arising out of or resulting from the
failure of a Receivable to be originated in compliance with all requirements of
law and for any breach of any of the Seller's representations and warranties
contained herein.

        (b) The Seller shall defend, indemnify and hold harmless the Purchaser
from and against any and all Damages arising out of or resulting from the use,
ownership or operation by the Seller or any affiliate thereof of a Financed
Vehicle.

        (c) The Seller shall defend, indemnify and hold harmless the Purchaser
from and against any and all taxes that may at any time be asserted against the
Purchaser with respect to the transactions contemplated herein, including,
without

                                       13

<PAGE>

limitation, any sales, gross receipts, general corporation, tangible personal
property, privilege, or license taxes (but not including any taxes asserted with
respect to ownership of the Receivables or federal or other taxes arising out of
the transactions contemplated by this Agreement and any related documents) and
costs and expenses in defending against the same.

        (d) The Seller shall defend, indemnify and hold harmless the Purchaser
from and against any and all Damages to the extent that such Damage arose out
of, or was imposed upon the Purchaser through, the negligence, willful
misfeasance or bad faith of the Seller in the performance of its duties under
this Agreement or by reason of reckless disregard of the Seller's obligations
and duties under this Agreement.

        (e) The Seller shall defend, indemnify and hold harmless the Purchaser
from and against all Damages arising out of or incurred in connection with the
acceptance or performance of the Seller's trusts and duties as Servicer under
the [Pooling and Servicing Agreement] [Sale and Servicing Agreement], except to
the extent that such Damages shall be due to the willful misfeasance, bad faith
or negligence of the Purchaser.

        These indemnity obligations shall be in addition to any obligation that
the Seller may otherwise have.

        (f) Promptly after receipt by a party indemnified under this Section 5.4
(an "Indemnified Party") of notice of the commencement of any action, such
Indemnified Party will, if a claim in respect thereof is to be made against the
Seller under this Section 5.4, notify the Seller of the commencement thereof. If
any such action is brought against any Indemnified Party under this Section 5.4
and it notifies the Seller of the commencement thereof, the Seller will assume
the defense thereof, with counsel reasonably satisfactory to such Indemnified
Party (who may, unless there is, as evidenced by an opinion of counsel to the
Indemnified Party stating that there is an unwaivable conflict of interest, be
counsel to the Indemnifying Party), and the Seller will not be liable to such
Indemnified Party under this Section 5.4 for any legal or other expenses
subsequently incurred by such Indemnified Party in connection with the defense
thereof, other than reasonable costs of investigation. The obligations set forth
in this Section 5.4 shall survive the termination of this Agreement and shall
include reasonable fees and expenses of counsel and expenses of litigation. If
the Seller shall have made any indemnity payments pursuant to this Section 5.4
and the Person to or on behalf of whom such payments are made thereafter
collects any of such amounts from others, such Person shall promptly repay such
amounts to the Seller, without interest (except to the extent received by such
Person).

                                   ARTICLE VI

                            MISCELLANEOUS PROVISIONS

        6.1 Obligations of Seller. The obligations of the Seller under this
Agreement shall not be affected by reason of any invalidity, illegality or
irregularity of any Receivable.

                                       14

<PAGE>

        6.2 Repurchase Events. The Seller hereby covenants and agrees with the
Purchaser for the benefit of the Purchaser, the Trust[, the Indenture Trustee]
and the holders of the [Securities] [Certificates], that the occurrence of a
breach of any of the Seller's representations and warranties contained in
Section 3.2(b) shall constitute events obligating the Seller to repurchase
Receivables hereunder ("Repurchase Events") [and pursuant to Section 3.02 of the
Sale and Servicing Agreement], at the amount of the Warranty Purchase Payment
from the Purchaser or, as described in Section 6.4 below, from the Trust. The
repurchase obligation of the Seller shall constitute the sole remedy of the
holders of the [Securities] [Certificates], the Trust[, the Indenture Trustee]
and the Purchaser against the Seller with respect to any Repurchase Event.

        6.3 Seller's Assignment of Purchased Receivables. With respect to all
Receivables repurchased by the Seller pursuant to this Agreement, the Purchaser
(without the need of any further written assignment) shall assign hereby,
without recourse, representation or warranty (other than that it has good and
marketable title to such Receivables), to the Seller all the Purchaser's right,
title and interest in and to such Receivables, and all security and documents
relating thereto.

        6.4 Trust. The Seller acknowledges that the Purchaser will, pursuant to
the [Pooling and Servicing Agreement] [Sale and Servicing Agreement], sell the
Receivables to the Trust and assign its rights under this Agreement to the Trust
[and that the Trust will assign such rights to the Indenture Trustee] for the
benefit of the holders of the [Securities] [Certificates], and that the
representations and warranties contained in this Agreement and the rights of the
Purchaser under Section 6.2 and the obligations under 6.3 are intended to
benefit the Trust and the holders of the [Securities] [Certificates]. The Seller
hereby consents to such sales and assignments.

        6.5 Amendment. This Agreement may be amended from time to time by a
written amendment duly executed and delivered by the Seller and the Purchaser;
provided, however, that any such amendment must be consented to by the [Holders
of Certificates evidencing a majority of the Voting Interests] [Holders of Notes
representing a majority of the Outstanding Amount of the Controlling Class of
Notes, or, in the case of any amendment that does not adversely affect the
Indenture Trustee or the Noteholders, the Holder of the Controlling Class of
Certificates (as evidenced by an Officer's Certificate of the Servicer and an
external Opinion of Counsel indicating that such amendment will not adversely
affect the Indenture Trustee or the Noteholders)].

        6.6 Accountants' Letters.

        (a) The Seller will cause Deloitte & Touche LLP to review the
characteristics of the Receivables described in the Schedule of Receivables and
to compare those characteristics to the information with respect to the
Receivables contained in the Prospectus.

        (b) The Seller will cooperate with the Purchaser and Deloitte & Touche
LLP in making available all information and taking all steps reasonably

                                       15

<PAGE>

necessary to permit such accountants to complete the review set forth in Section
6.6(a) and to deliver the letters required of them under the Underwriting
Agreement.

        6.7 Waivers. No failure or delay on the part of the Purchaser in
exercising any power, right or remedy under this Agreement or the Assignment
shall operate as a waiver hereof or thereof, nor shall any single or partial
exercise of any such power, right or remedy preclude any other or further
exercise hereof or thereof or the exercise of any other power, right or remedy.
Notwithstanding anything to the contrary, the Purchaser shall not waive any
breach of representations and warranties set forth in Section 3.2(b)(v), (xii),
(xiv), (xv), (xxx) or (xxxi).

        6.8 Notices. All communications and notices pursuant hereto to either
party shall be in writing (including via telecopy) and addressed or delivered to
it at its address (or in the case of telecopy, at its telecopy number at such
address) shown in the opening portion of this Agreement or at such other address
as may be designated by it by notice to the other party and, if mailed or
delivered, shall be deemed given when mailed or delivered, or transmitted by
telecopy.

        6.9 Costs and Expenses. The Seller agrees to pay all expenses incident
to the performance of its obligations under this Agreement and the Seller agrees
to pay all reasonable out-of-pocket costs and expenses of the Purchaser,
excluding fees and expenses of counsel, in connection with the perfection as
against third parties of the Purchaser's right, title and interest in and to the
Receivables and the enforcement of any obligation of the Seller hereunder.

        6.10 Survival. The respective agreements, representations, warranties
and other statements by the Seller and the Purchaser set forth in or made
pursuant to this Agreement shall remain in full force and effect and will
survive the Closing.

        6.11 Headings and Cross-References. The various headings in this
Agreement are included for convenience only and shall not affect the meaning or
interpretation of any provision of this Agreement. References in this Agreement
to Section names or numbers are to such Sections of this Agreement.

        6.12 Governing Law. This Agreement and the Assignment shall be governed
by and construed in accordance with the internal laws of the State of New York,
without reference to its conflict of law provisions (other than Section 5-1401
of the General Obligations Law of the State of New York), and the obligations,
rights and remedies of the parties under this Agreement shall be determined in
accordance with such laws.

        6.13 Counterparts. This Agreement may be executed in multiple
counterparts and by different parties on separate counterparts, each of which
shall be an original, but all of which together shall constitute one and the
same instrument.

        6.14 Sale. Each party hereto agrees to treat the conveyance under this
Agreement for all purposes (including, without limitation, tax and financial
accounting purposes) as a sale of the Receivables on all of its relevant books,
records, tax returns,

                                       16

<PAGE>

financial statements and other applicable documents. Although the parties hereto
intend that the transfer and assignment contemplated by this Agreement be a
sale, in the event such transfer and assignment is deemed to be other than a
sale, the parties intend that all filings described in this Agreement shall give
the Purchaser a first priority perfected security interest in, to and under the
Receivables and other property conveyed hereunder and all proceeds of any of the
foregoing. This Agreement shall be deemed to be the grant of a security interest
from the Seller to the Purchaser, and the Purchaser shall have all the rights,
powers and privileges of a secured party under the UCC.

        IN WITNESS WHEREOF, the parties hereto hereby have caused this Agreement
to be executed by their respective officers thereunto duly authorized as of the
[___] day of [___________].

                                             NISSAN MOTOR ACCEPTANCE CORPORATION

                                             By: _______________________________
                                                 Name:
                                                 Title:

                                             NISSAN AUTO RECEIVABLES
                                             CORPORATION II

                                             By: _______________________________
                                                 Name:
                                                 Title:

                                             ACCEPTED:

                                             ___________________________________
                                             not in its individual capacity but
                                             solely as Trustee

                                             By: _______________________________
                                                 Name:
                                                 Title:

                                       17

<PAGE>

                                    Exhibit A

                                   ASSIGNMENT

        For value received, in accordance with the Purchase Agreement dated as
of ___________________________, (the "Purchase Agreement"), between the
undersigned (the "Seller") and Nissan Auto Receivables Corporation II (the
"Purchaser"), the undersigned does hereby sell, assign, transfer and otherwise
convey unto the Purchaser, without recourse, the following:

            (i) all right, title and interest of the Seller in and to the
        Receivables listed on Schedule A hereto (including all related
        Receivable Files) and all monies due thereon or paid thereunder or in
        respect thereof after the Cutoff Date;

            (ii) the right of the Seller in the security interests in the
        Financed Vehicles granted by the Obligors pursuant to the Receivables
        and any related property;

            (iii) the right of the Seller in any proceeds from claims on any
        physical damage, credit life, credit disability or other insurance
        policies covering Financed Vehicles or Obligors;

            (iv) the right of the Seller to receive payments in respect of any
        Dealer Recourse with respect to the Receivables;

            (v) the right of the Seller to realize upon any property (including
        the right to receive future Net Liquidation Proceeds) that shall have
        secured a Receivable;

            (vi) the right of the Seller in rebates of premiums and other
        amounts relating to insurance policies and other items financed under
        the Receivables in effect as of the Cutoff Date; and

            (vii) all proceeds of the foregoing.

        The foregoing sale does not constitute and is not intended to result in
any assumption by the Purchaser of any obligation of the undersigned to the
Obligors, insurers or any other person in connection with the Receivables,
Receivable Files, any insurance policies or any agreement or instrument relating
to any of them.

        This Assignment is made pursuant to and upon the representations,
warranties and agreements on the part of the undersigned contained in the
Purchase Agreement and is to be governed by the Purchase Agreement.

        Capitalized terms used herein and not otherwise defined shall have the
respective meanings assigned to such terms in the Purchase Agreement.

                                   Exhibit A

<PAGE>

        IN WITNESS WHEREOF, the undersigned has caused this Assignment to be
duly executed as of the ___ day of ____________.

                                             NISSAN MOTOR ACCEPTANCE CORPORATION

                                             By: _______________________________
                                                 Name:
                                                 Title:

                                   Exhibit B

<PAGE>

SCHEDULE A

Schedule of Receivables

See schedule attached to the [Pooling and Servicing Agreement][Sale and
Servicing Agreement].

                                    Annex A<PAGE>

                                                                     EXHIBIT 4.6

                            ADMINISTRATION AGREEMENT

                                      among

                 NISSAN AUTO RECEIVABLES [____-___] OWNER TRUST,
                                    as Issuer

                      NISSAN MOTOR ACCEPTANCE CORPORATION,
                                as Administrator

                             [____________________],
                              as Indenture Trustee

                                       and

                             [____________________],
                               as [Owner Trustee]

                            Dated as of [__________]

<PAGE>

1.  DUTIES OF THE ADMINISTRATOR...............................................2
2.  RECORDS...................................................................9
3.  COMPENSATION..............................................................9
4.  ADDITIONAL INFORMATION TO BE FURNISHED TO THE ISSUER......................9
5.  INDEPENDENCE OF THE ADMINISTRATOR.........................................9
6.  NO JOINT VENTURE..........................................................9
7.  OTHER ACTIVITIES OF ADMINISTRATOR.........................................9
8.  TERM OF AGREEMENT; RESIGNATION AND REMOVAL OF ADMINISTRATOR..............10
9.  ACTION UPON TERMINATION, RESIGNATION OR REMOVAL..........................11
10. NOTICES..................................................................11
11. AMENDMENTS...............................................................12
12. SUCCESSOR AND ASSIGNS....................................................13
13. GOVERNING LAW............................................................13
14. NO PETITION..............................................................13
15. HEADINGS.................................................................13
16. COUNTERPARTS.............................................................13
17. SEVERABILITY OF PROVISIONS...............................................13
18. NOT APPLICABLE TO NMAC IN OTHER CAPACITIES...............................14
19. LIMITATION OF LIABILITY OF OWNER TRUSTEE AND INDENTURE TRUSTEE...........14

<PAGE>

        ADMINISTRATION AGREEMENT, dated as of [__________], among NISSAN AUTO
RECEIVABLES [_________-___________] OWNER TRUST, a Delaware business trust (the
"Issuer"), NISSAN MOTOR ACCEPTANCE CORPORATION, a California corporation, as
administrator (the "Administrator"), [____________________], a
[______________________], not in its individual capacity but solely as Indenture
Trustee (as defined below), and [____________________], a
[__________________________], not in its individual capacity but solely as
[Owner Trustee](as defined below).

                              W I T N E S S E T H:

        WHEREAS, beneficial ownership interests in the Issuer represented by the
Nissan Auto Receivables [_________-_________] Owner Trust Asset Backed
Certificates, Class C and Class D (the "Certificates") have been issued in
connection with the formation of the Issuer pursuant to the Trust Agreement,
dated as of [__________] (the "Trust Agreement"), between Nissan Auto
Receivables Corporation II ("NARC II"), a Delaware corporation, as depositor,
and [____________________], as owner trustee (the "Owner Trustee") to the owners
thereof (the "Owners");

        WHEREAS, the Issuer is issuing the Nissan Auto Receivables [___-__]
Owner Trust [___]% Asset Backed Notes Class A-1, the Nissan Auto Receivables
[___-__] Owner Trust [___]% Asset Backed Notes Class A-2, the Nissan Auto
Receivables [___-__] Owner Trust [___]% Asset Backed Notes Class A-3, [Floating
Rate Asset Backed Variable Pay Term Notes issued from time to time] and the
Nissan Auto Receivables [___-__] Owner Trust [___]% Asset Backed Notes Class B
(collectively, the "Notes") pursuant to the Indenture, dated as of [__________]
(as amended and supplemented from time to time, the "Indenture"), between the
Issuer and [_________], as indenture trustee (the "Indenture Trustee";
capitalized terms used herein and not defined herein shall have the meanings
ascribed thereto in the Indenture, the Trust Agreement or the Sale and Servicing
Agreement, dated as of [__________], among the Issuer, Nissan Motor Acceptance
Corporation ("NMAC"), as servicer, and NARC II, as seller (the "Sale and
Servicing Agreement"), as the case may be);

        WHEREAS, the Issuer has entered into certain agreements in connection
with the issuance of the Certificates[, the VPTNs] and the Notes, including the
Purchase Agreement, dated as of [__________] (the "Purchase Agreement"), between
NMAC, as seller, and NARC II, as purchaser, the Trust Agreement, the Indenture,
this Agreement, the Securities Account Control Agreement, the Yield Supplement
Agreement, the Note Depository Agreement, the Certificate Depository Agreement,
[the Interest Rate Swap Agreement] and the Sale and Servicing Agreement
(collectively, the "Basic Documents");

        WHEREAS, pursuant to the Basic Documents, the Issuer is required to
perform certain duties in connection with the Certificates, the Notes[, the
VPTNs] and the Collateral;

        WHEREAS, the Issuer desires to appoint NMAC as administrator to perform
certain of the duties of the Issuer under the Basic Documents and to provide
such additional services

<PAGE>

consistent with the terms of this Agreement and the Basic Documents as the
Issuer may from time to time request; and

        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 covenants contained
herein, and other good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged, the parties agree as follows:

        1. DUTIES OF THE ADMINISTRATOR.

            (a) Duties with respect to the Note Depository Agreement and the
        Indenture.

                (i) The Administrator agrees to perform all its duties as
            Administrator under the Basic Documents and the duties of the Issuer
            under the Note Depository Agreement and the Indenture. In addition,
            the Administrator shall consult with the Owner Trustee regarding the
            duties of the Issuer under the Indenture and the Note Depository
            Agreement. The Administrator shall monitor the performance of the
            Issuer and shall advise the Owner Trustee when action by the Issuer
            or the Owner Trustee is necessary to comply with the Issuer's duties
            under the Indenture and the Note Depository Agreement. The
            Administrator shall prepare for execution by the Issuer or shall
            cause the preparation by other appropriate persons of all such
            documents, reports, filings, instruments, certificates and opinions
            as it shall be the duty of the Issuer to prepare, file or deliver
            pursuant to the Indenture[, the Interest Rate Swap Agreement] and
            the Note Depository Agreement. In furtherance of the foregoing, the
            Administrator shall take all appropriate action that is the duty of
            the Issuer to take pursuant to the Indenture including, without
            limitation, such of the foregoing as are required with respect to
            the following matters under the Indenture (references are to
            sections of the Indenture):

                    (A) preparing or obtaining the documents and instruments
                required for the proper authentication of Notes and delivering
                the same to the Indenture Trustee (Section 2.02);

                    (B) appointing the Note Registrar and giving the Indenture
                Trustee notice of any appointment of a new Note Registrar and
                the location, or change in location, of the Note Register
                (Section 2.04);

                    (C) preparing the notification to Noteholders of the final
                principal payment on their Notes (Section 2.07(b));

                    (D) preparing, obtaining and/or filing of all instruments,
                opinions and certificates and other documents required for the
                release of Collateral (Section 2.09);

                                       2

<PAGE>

                    (E) maintaining an office in the Borough of Manhattan, City
                of New York, for the registration of transfer or exchange of
                Notes (Section 3.02);

                    (F) causing newly appointed Paying Agents, if any, to
                deliver to the Indenture Trustee the instrument specified in the
                Indenture regarding funds held in trust (Section 3.03);

                    (G) directing the Indenture Trustee to deposit moneys with
                Paying Agents, if any, other than the Indenture Trustee (Section
                3.03);

                    (H) obtaining and preserving or causing the Owner Trustee to
                obtain and preserve the Issuer's qualification to do business in
                each jurisdiction in which such qualification is or shall be
                necessary to protect the validity and enforceability of the
                Indenture, the Notes, the Collateral and each other instrument
                and agreement included in the Trust Estate (Section 3.04);

                    (I) preparing all supplements, amendments, financing
                statements, continuation statements, instruments of further
                assurance and other instruments, in accordance with Section 3.05
                of the Indenture, necessary to protect the Trust Estate
                (Sections 3.05 and 3.07(c));

                    (J) furnishing the required Opinions of Counsel on the
                Closing Date and at such other times, in accordance with
                Sections 3.06 and 8.06 of the Indenture, and delivering the
                annual Officer's Certificates and certain other statements as to
                compliance with the Indenture, in accordance with Section 3.09
                of the Indenture (Sections 3.06, 3.09 and 8.06);

                    (K) identifying to the Indenture Trustee in an Officer's
                Certificate any Person with whom the Issuer has contracted to
                perform its duties under the Indenture (Section 3.07);

                    (L) notifying the Indenture Trustee and the Rating Agencies
                of any Servicer Default pursuant to the Sale and Servicing
                Agreement and, if such Servicer Default arises from the failure
                of the Servicer to perform any of its duties under the Sale and
                Servicing Agreement, taking all reasonable steps available to
                remedy such failure (Section 3.07(d));

                    (M) preparing and obtaining documents and instruments
                required in connection with the consolidation, merger or
                transfer of assets of the Issuer (Section 3.10);

                    (N) delivering notice to the Indenture Trustee of each Event
                of Default and each other default by the Servicer or the Seller
                under the Sale and Servicing Agreement (Section 3.19);

                                       3

<PAGE>

                    (O) monitoring the Issuer's obligations as to the
                satisfaction and discharge of the Indenture and the preparation
                of an Officer's Certificate and obtaining the Opinion of Counsel
                and the Independent Certificate (as defined in the Indenture)
                related thereto (Section 4.01);

                    (P) preparing and mailing the notification of the Indenture
                Trustee and Noteholders with respect to special payment dates,
                if any (Section 5.04(d));

                    (Q) preparing and, after execution by the Issuer and the
                Indenture Trustee, filing with the Commission and any applicable
                state agencies of documents required to be filed on a periodic
                basis with the Commission and any applicable state agencies
                (including any summaries thereof required by rules and
                regulations prescribed thereby), and transmitting of such
                summaries to the Noteholders (Section 7.03);

                    (R) preparing any Issuer Request and Officer's Certificates
                and obtaining any Opinions of Counsel and Independent
                Certificates necessary for the release of the Trust Estate
                (Section 8.04);

                    (S) preparing Issuer Orders and obtaining Opinions of
                Counsel with respect to the execution of any supplemental
                indentures, and mailing notices to the Noteholders with respect
                thereto (Sections 9.01, 9.02 and 9.03);

                    (T) executing and delivering new Notes conforming to the
                provisions of any supplemental indenture, as appropriate
                (Section 9.06);

                    (U) preparing all Officer's Certificates, Opinions of
                Counsel and Independent Certificates with respect to any
                requests by the Issuer to the Indenture Trustee to take any
                action under the Indenture (Section 11.01(a));

                    (V) preparing and delivering Officer's Certificates and
                obtaining Independent Certificates, if necessary, for the
                release of property or securities from the lien of the Indenture
                (Section 11.01(c));

                    (W) notifying the Rating Agencies, upon any failure of the
                Indenture Trustee to give such notification, of the information
                required pursuant to Section 11.04 of the Indenture (Section
                11.04);

                    (X) preparing and delivering to the Noteholders and the
                Indenture Trustee any agreements with respect to alternate
                payment and notice provisions (Section 11.06); and

                    (Y) recording the Indenture, if applicable (Section 11.14).

                                       4

<PAGE>

                (ii) The Administrator shall also:

                    (A) pay the Indenture Trustee from time to time the
                reasonable compensation provided for in the Indenture with
                respect to services rendered by the Indenture Trustee under the
                Indenture (which compensation shall not be limited by any
                provision of law in regard to the compensation of a trustee of
                an express trust);

                    (B) reimburse the Indenture Trustee upon its request for all
                reasonable expenses, disbursements and advances incurred or made
                by the Indenture Trustee in accordance with any provision of the
                Indenture (including the reasonable compensation, expenses and
                disbursements of its agents and counsel) to the extent the
                Indenture Trustee is entitled to such reimbursement by the
                Issuer under the Indenture;

                    (C) indemnify the Indenture Trustee for, and hold it
                harmless against, any losses, liability or expense incurred
                without negligence or bad faith on the part of the Indenture
                Trustee, arising out of or in connection with the acceptance or
                administration of the trusts and duties contemplated by the
                Indenture, including the reasonable costs and expenses of
                defending themselves against any claim or liability in
                connection therewith to the extent the Indenture Trustee is
                entitled to such indemnification from the Issuer under the
                Indenture; and

                    (D) pay the reasonable expense of any examination or
                investigation by the Owner Trustee undertaken pursuant to
                Section 7.01(e) of the Trust Agreement, and if such expense is
                paid by the Owner Trustee, then such expense shall be reimbursed
                by the Administrator upon demand.

                [(iii) With respect to the issuance of the VPTNs and the
            Interest Rate Swap Agreement, the Administrator agrees to perform
            the following duties (references are to sections of the Indenture):

                    (A) subject to conditions set forth in Section 2.02 of the
                Indenture, causing the Issuer to offer each VPTN that may be
                issued on the Targeted Scheduled Distribution Date for a
                subclass of the Class A Notes to [_______________] and, if
                [______________] is unable or unwilling to purchase such VPTN,
                using reasonable efforts to locate another purchaser and causing
                the Issuer to offer such VPTN to such purchaser;

                    (B) preparing the Issuer Order, including determining or
                obtaining all necessary information to be included thereto, for
                signature by one of the Issuer's Authorized Officers and
                delivering the same to the Indenture Trustee (Section 2.02);

                                       5

<PAGE>

                    (C) if the Swap Counterparty is required to collateralize
                any Interest Rate Swap transaction, sending written instructions
                to the Indenture Trustee to establish individual collateral
                accounts and to hold any securities deposited therein in trust
                and to invest any cash amounts therein in accordance with the
                provisions of the Interest Rate Swap Agreement (Section
                6.14(iii));

                    (D) calculating and providing written notification to the
                Swap Counterparty and to the Indenture Trustee of the notional
                amount of the Interest Rate Swap as of each Distribution Date on
                or before the twelfth day of the month of the related
                Distribution Date (Section 6.1(iv));

                    (E) obtaining the calculation of LIBOR from the Calculation
                Agent and calculating the amount of all Swap Payments, Swap
                Receipts and Swap Termination Payments payable on each
                Distribution Date, and providing written notification of such
                amounts to the Swap Counterparty and to the Indenture Trustee
                prior to such Distribution Date (Section 6.1(iv));

                    (F) providing the Rating Agencies with a copy of any
                amendment or supplement to the Interest Rate Swap Agreement at
                least five days prior to the effective date of such proposed
                amendment or supplement (Section 6.14(iv));

                    (G) promptly following the early termination of the Interest
                Rate Swap Agreement due to a Termination Event or an Event of
                Default (as such terms are defined in the Interest Rate Swap
                Agreement), using its reasonable efforts to cause the Issuer to
                enter into a replacement Interest Rate Swap Agreement with an
                eligible Swap Counterparty (Section 6.14(v));

                    (H) upon the occurrence of a downgrade of the Swap
                Counterparty by the Rating Agencies or of a suspension or
                withdrawal of its ratings, within 30 days of such downgrade,
                suspension or withdrawal, causing the Issuer to require that the
                Swap Counterparty either (1) post collateral acceptable to the
                Issuer in amounts sufficient to secure its obligations under the
                Interest Rate Swap Agreement, (2) assign its rights and
                obligations under the Interest Rate Swap Agreement to a
                replacement counterparty acceptable to the Issuer or (3)
                establish other arrangements necessary, if any, in each case so
                that the Rating Agencies confirm the ratings of the Class A
                Notes and the VPTNs that were in effect immediately prior to
                such downgrade, suspension or withdrawal (Section 6.14(vi)); and

                    (I) notifying the Swap Counterparty of any proposed
                amendment or supplement to any of the Basic Documents, including

                                       6

<PAGE>

                obtaining consents from the Swap Counterparty prior to the
                adoption of such amendment or supplement if such proposed
                amendment or supplement would adversely affect such Swap
                Counterparty's rights or obligations under the Interest Rate
                Swap Agreement or modify the obligations of, or impair the
                ability of the Issuer to fully perform any of its obligations
                under the Interest Rate Swap Agreement (Section 6.14(vii)).]

            (b) Additional Duties.

                (i) In addition to the duties of the Administrator set forth
            above, 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 and opinions
            as it shall be the duty of the Issuer or the Owner Trustee to
            prepare, file or deliver pursuant to the Basic Documents, and at the
            request of the Owner Trustee shall take all appropriate action that
            it is the duty of the Issuer or the Owner Trustee to take pursuant
            to the Basic Documents. Subject to Section 5 of this Agreement, and
            in accordance with the reasonable written directions of the Owner
            Trustee, the Administrator shall administer, perform or supervise
            the performance of such other activities in connection with the
            Collateral (including the Basic Documents) as are not covered by any
            of the foregoing provisions and as are expressly requested by the
            Owner Trustee and are reasonably within the capability of the
            Administrator.

                (ii) Notwithstanding anything in this Agreement or the Basic
            Documents to the contrary, the Administrator shall be responsible
            for promptly notifying the Owner Trustee in the event that any
            withholding tax is imposed on the Issuer's payments (or allocations
            of income) to a Certificateholder as contemplated in Section 5.02(c)
            of the Trust Agreement. Any such notice shall specify the amount of
            any withholding tax required to be withheld by the Owner Trustee
            pursuant to such provision.

                (iii) Notwithstanding anything in this Agreement or the Basic
            Documents to the contrary, the Administrator shall be responsible
            for performance of the duties of the Administrator set forth in
            Section 5.04(a), (b), (c), (d), (e) and (f) of the Trust Agreement
            with respect to, among other things, accounting and reports to the
            Certificateholders; provided, however, that the Owner Trustee shall
            remain exclusively responsible for the mailing of the Schedule K-1s
            necessary to enable each Certificateholder to prepare its federal
            and state income tax returns.

                (iv) The Administrator shall satisfy its obligations with
            respect to clauses (ii) and (iii) above and under the Trust
            Agreement by retaining, at the expense of the Administrator, a firm
            of independent public accountants (the "Accountants") which shall
            perform the obligations of the Administrator thereunder; provided,
            however, that the Certificateholder is not the Administrator

                                       7

<PAGE>

            or any of its Affiliates. In connection with paragraph (ii) above,
            the Accountants will provide prior to [_________________], a letter
            in form and substance satisfactory to the Owner Trustee as to
            whether any tax withholding is then required and, if required, the
            procedures to be followed with respect thereto to comply with the
            requirements of the Code; provided, however that the
            Certificateholder is not the Administrator or any of its Affiliates.
            The Accountants shall be required to update the letter in each
            instance that any additional tax withholding is subsequently
            required or any previously required tax withholding shall no longer
            be required.

                (v) The Administrator shall perform the duties of the
            Administrator specified in Section 10.02 of the Trust Agreement
            required to be performed in connection with the resignation or
            removal of the Owner Trustee, and any other duties expressly
            required to be performed by the Administrator under the Trust
            Agreement.

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

            (c) Non-Ministerial Matters.

                (i) 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 (x) the Administrator shall have notified the Owner
            Trustee of the proposed action and the Owner Trustee shall have
            consented thereto or provided an alternative direction and (y) all
            approvals required under the Basic Documents shall have been
            obtained. For the purpose of the preceding sentence,
            "non-ministerial matters" shall include, without limitation:

                    (A) the amendment of the Indenture or execution of any
                supplement to the Indenture;

                    (B) the initiation of any claim or lawsuit by the Issuer and
                the compromise of any action, claim or lawsuit brought by or
                against the Issuer (other than in connection with the collection
                of the Receivables);

                    (C) the amendment, change or modification of any of the
                Basic Documents;

                    (D) the appointment of successor Note Registrars, or
                successor Paying Agents pursuant to the Indenture or the
                appointment of successor

                                       8

<PAGE>

                Administrators, or the consent to the assignment by the Note
                Registrar, Paying Agent or Indenture Trustee of its obligations,
                in each case under the Indenture; and

                    (E) 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 Basic Documents, (y) sell
            the Trust Estate pursuant to Section 5.04 of the Indenture 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 by the Issuer, the Owner
Trustee and the Indenture Trustee at any time during normal business hours upon
reasonable advance written notice.

        3. COMPENSATION. 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 a fee of
$200.00 per month which shall be solely an obligation of the Servicer.

        4. ADDITIONAL INFORMATION TO BE FURNISHED TO THE ISSUER. The
Administrator shall furnish to the Issuer from time to time such additional
information regarding the Collateral as the Issuer shall reasonably request.

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

        6. NO JOINT VENTURE. Nothing contained in this Agreement shall (i)
constitute the Administrator and any of the Issuer, the Owner Trustee or the
Indenture Trustee as members of any partnership, joint venture, association,
syndicate, unincorporated business or other separate entity, (ii) be construed
to impose any liability as such on any of them or (iii) be deemed to confer on
any of them any express, implied or apparent authority to incur any obligation
or liability on behalf of the others.

        7. OTHER ACTIVITIES OF ADMINISTRATOR. Nothing herein shall prevent the
Administrator or its Affiliates from engaging in other businesses or, in its or
their sole discretion, from acting as an administrator for any other person or
entity, or in a similar capacity therefor, even though such person or entity may
engage in business activities similar to those of the Issuer, the Owner Trustee
or the Indenture Trustee.

                                       9

<PAGE>

        8. TERM OF AGREEMENT; RESIGNATION AND REMOVAL OF ADMINISTRATOR.

            (a) This Agreement shall continue in force until the termination of
        the Issuer, upon which event this Agreement shall automatically
        terminate.

            (b) Subject to Sections 8(e) and 8(f), the Administrator may resign
        by providing the Issuer with at least 30 days' prior written notice.

            (c) Subject to Sections 8(e) and 8(f), the Issuer may remove the
        Administrator without cause by providing the Administrator at least 30
        days' prior written notice.

            (d) Subject to Sections 8(e) and 8(f), at the sole option of the
        Issuer, the Administrator may be removed immediately upon written notice
        of termination from the Issuer to the Administrator if any of the
        following events shall occur:

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

                (ii) the entry of a decree or order by a court or agency or
            supervisory authority having jurisdiction in the premises for the
            appointment of a trustee in bankruptcy, conservator, receiver or
            liquidator for the Administrator in any bankruptcy, insolvency,
            readjustment of debt, marshalling of assets and liabilities or
            similar proceedings, or for the winding up or liquidation of their
            respective affairs, and the continuance of any such decree or order
            unstayed and in effect for a period of 90 consecutive days; or

                (iii) the consent by the Administrator to the appointment of a
            trustee in bankruptcy, conservator or receiver or liquidator in any
            bankruptcy, insolvency, readjustment of debt, marshalling of assets
            and liabilities or similar proceedings of or relating to the
            Administrator of or relating to substantially all of their property,
            or the Administrator shall admit in writing its inability to pay its
            debts generally as they become due, file a petition to take
            advantage of any applicable insolvency or reorganization statute,
            make an assignment for the benefit of its creditors, or voluntarily
            suspend payment of its obligations.

            The Administrator agrees that if any of the events specified in
        clauses (ii) or (iii) of this Section shall occur, it shall give written
        notice thereof to the Issuer, the Owner Trustee and the Indenture
        Trustee within seven days after the occurrence of such event.

            (e) No resignation or removal of the Administrator pursuant to this
        Section shall be effective until (i) a successor Administrator shall
        have been appointed by the

                                       10

<PAGE>

        Issuer and (ii) such successor Administrator shall have agreed in
        writing to be bound by the terms of this Agreement on substantially the
        same terms as the Administrator is bound hereunder.

            (f) The appointment of any successor Administrator shall be
        effective only after each Rating Agency (other than Moody's) has
        provided to the Owner Trustee and the Indenture Trustee notice that the
        proposed appointment will not result in the reduction or withdrawal of
        any rating, if any, then assigned by such Rating Agency to any Class of
        Notes or the Class C Certificates. Promptly after the appointment of any
        successor Administrator, the Owner Trustee will provide notice of such
        appointment to Moody's (so long as Moody's is then rating any
        outstanding Notes).

            (g) Subject to Section 8(e) and 8(f), the Administrator acknowledges
        that upon the appointment of a Successor Servicer pursuant to the Sale
        and Servicing Agreement, the Administrator shall immediately resign and
        such Successor Servicer shall automatically succeed to the rights,
        duties and obligations of the Administrator under this Agreement.

        9. ACTION UPON TERMINATION, RESIGNATION OR REMOVAL. Promptly upon the
effective date of termination of this Agreement pursuant to Section 8(a) or the
resignation or removal of the Administrator pursuant to Section 8(b) or (c) or
(d), the Administrator shall be entitled to be paid all fees and reimbursable
expenses accruing to it to the date of such termination, resignation or removal.
The Administrator shall forthwith upon such termination pursuant to Section 8(a)
deliver to or to the order of the Issuer all property and documents of or
relating to the Collateral then in the custody of the Administrator. In the
event of the resignation or removal of the Administrator pursuant to Section
8(b) or (c) or (d), the Administrator shall cooperate with the Issuer and take
all reasonable steps requested to assist the Issuer in making an orderly
transfer of the duties of the Administrator.

        10. NOTICES. Any notice, report or other communication given hereunder
shall be in writing and addressed as follows:

            (a) if to the Issuer or the Owner Trustee, to:

                Nissan Auto Receivables [_____-___] Owner Trust
                In care of:  ________________________
                [____________________________________]
                Attention:  Nissan Auto Receivables [_____-___] Owner Trust

                with a copy to
                Nissan Auto Receivables [_____-___] Owner Trust
                In care of: Nissan Motor Acceptance Corporation
                990 West 190th Street
                Torrance, California  90502
                Attention: Joy Crose, General Counsel

                                       11

<PAGE>

            (b) if to the Administrator, to:

                Nissan Motor Acceptance Corporation
                990 West 190th Street
                Torrance, California  90502
                Attention: Joy Crose, General Counsel

            (c) if to the Indenture Trustee, to:

                      [_________________________________]
                      [_________________________________]
                      [_________________________________]
                      Attention: Nissan Auto Receivables [___-___] Owner Trust

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

        11. AMENDMENTS. This Agreement may be amended from time to time by a
written amendment duly executed and delivered by the Issuer, the Administrator
and the Indenture Trustee, with the consent of the Owner Trustee but without the
consent of any Noteholders or the Certificateholders, for the purpose of adding
any provisions to or modifying or changing in any manner or eliminating any of
the provisions of this Agreement; provided that such amendment does not and will
not, in the Opinion of Counsel satisfactory to the Indenture Trustee, materially
and adversely affect the interest of any Noteholder or Certificateholder. This
Agreement may also be amended from time to time by the Issuer, the Administrator
and the Indenture Trustee with the consent of the Owner Trustee and (i) the
holders of Notes evidencing a majority of the Outstanding Amount of the
Controlling Class of Notes or (ii) in the case of any amendment that does not
adversely affect the Indenture Trustee or the Noteholders (as evidenced by an
Officer's Certificate of the Servicer and an outside Opinion of Counsel
indicating that such amendment will not adversely affect the Indenture Trustee
or the Noteholders), the holders of the Certificates evidencing a majority of
the outstanding Certificate Balance of the Controlling Class of Certificates
(but excluding for purposes of calculation and action all Certificates held by
the Seller, the Servicer or any of their Affiliates unless at such time all
Certificates are then owned by the Seller, the Servicer and their Affiliates),
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 those Noteholders or Certificateholders which are not
covered by the immediately preceding sentence.

        [Upon any proposed amendment or supplement to this Agreement pursuant to
this Section 11, if such proposed amendment or supplement would adversely affect
any of the Swap Counterparty's rights or obligations under the Interest Rate
Swap Agreement or modify the obligations of, or impair the ability of the Issuer
to fully perform any of its obligations under the Interest Rate Swap Agreement,
then the Administrator shall obtain the consent of the Swap Counterparty prior
to the adoption of such amendment or supplement, provided the Swap
Counterparty's consent shall not be unreasonably withheld, and provided,

                                       12

<PAGE>

further, the Swap Counterparty's consent will be deemed to have been given if
the Swap Counterparty does not object in writing within ten Business Days of
receipt of a written request for such consent.]

        12. SUCCESSOR AND ASSIGNS. This Agreement may not be assigned by the
Administrator unless such assignment is consented to in writing by the Issuer,
the Owner Trustee and the Indenture Trustee, and the conditions precedent to
appointment of a successor Administrator set forth in Section 8 are satisfied.
An assignment with such consent and satisfaction, if accepted by the assignee,
shall bind the assignee hereunder in the same manner as the Administrator is
bound hereunder. Notwithstanding the foregoing, this Agreement may be assigned
by the Administrator without the consent of the Issuer, the Owner Trustee and
the Indenture Trustee to a corporation or other organization that is a successor
(by merger, consolidation or purchase of assets) to the Administrator, provided
that such successor organization executes and delivers to the Issuer, the Owner
Trustee and the Indenture Trustee an agreement in which such corporation or
other organization agrees to be bound hereunder by the terms of said assignment
in the same manner as the Administrator is bound hereunder. Subject to the
foregoing, this Agreement shall bind any successors or assigns of the parties
hereto.

        13. GOVERNING LAW. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York, without reference to its
conflict of law provisions (other than Section 5-1401 of the General Obligations
Law of the State of New York), and the obligations, rights and remedies of the
parties hereunder shall be determined in accordance with such laws.

        14. NO PETITION. The Administrator, by entering into this Administration
Agreement, hereby covenants and agrees that it will not at any time institute
against the Issuer, or join in any institution against the Issuer of any
bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings,
or other proceedings under any United States federal or state bankruptcy or
similar law, in connection with any obligations relating to the Notes, the
Certificates or any of the Basic Documents.

        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 counterparts, each
of which when so executed shall together constitute but one and the same
agreement.

        17. SEVERABILITY OF PROVISIONS. If any one or more of the agreements,
provisions or terms of this Agreement shall be for any reason whatsoever held
invalid or unenforceable in any jurisdiction, then such 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 or the other rights of
the parties hereto.

                                       13

<PAGE>

        18. NOT APPLICABLE TO NMAC IN OTHER CAPACITIES. Nothing in this
Agreement shall affect any obligation, right or benefit NMAC may have in any
other capacity or under any Basic Document.

        19. LIMITATION OF LIABILITY OF OWNER TRUSTEE AND INDENTURE TRUSTEE.
Notwithstanding anything contained herein to the contrary, this instrument has
been countersigned by [_________________], not in its individual capacity but
solely in its capacity as Owner Trustee of the Issuer, and [_________________],
not in its individual capacity but solely in its capacity as Indenture Trustee
under the Indenture and in no event shall [_________________] in its individual
capacity, [________________], in its individual capacity, or any
Certificateholder have any liability for the representations, warranties,
covenants, agreements or other obligations of the Issuer hereunder or in any of
the certificates, notices or agreements delivered pursuant hereto, as to all of
which recourse shall be had solely to the assets of the Issuer.

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

                                            NISSAN AUTO RECEIVABLES [____-___]
                                            OWNER TRUST

                                            By: [_____________________________],
                                            not in its individual capacity but
                                            solely as [Owner Trustee]

                                            By: ________________________________
                                                Name:
                                                Title:

                                            [______________________________],
                                            not in its individual capacity but
                                            solely as [Indenture Trustee]

                                            By: ________________________________
                                                Name:
                                                Title:

                                            NISSAN MOTOR ACCEPTANCE CORPORATION,
                                            as Administrator

                                       14

<PAGE>

                                            By: ________________________________
                                                Name:
                                                Title:

                                            [_________________________________],
                                            not in its individual capacity but
                                            solely as Owner Trustee

                                            By: ________________________________
                                                Name:
                                                Title:

                                       15

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