Document:

EX-10.1

 Exhibit 10.1 

[Execution Version] 
  

 
  

SALE AND SERVICING AGREEMENT 

Dated as of September 23, 2020 

among 
 REGIONAL MANAGEMENT
RECEIVABLES III, LLC, 
 as Depositor 

REGIONAL MANAGEMENT CORP., 
 as
Servicer 
 THE SUBSERVICERS PARTY HERETO, 

as Subservicers 
 REGIONAL
MANAGEMENT ISSUANCE TRUST 2020-1, 
 as Issuer 

and 
 REGIONAL MANAGEMENT NORTH
CAROLINA RECEIVABLES TRUST 
 acting hereunder solely with respect to the 2020-1A SUBI 

 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	ARTICLE I	  	 	 
	DEFINITIONS	  	 	 
			
	 Section 1.01
	 	 Definitions
	  	 	1	 
		
	ARTICLE II	  	 	 
	CONVEYANCE OF LOANS	  	 	 
			
	 Section 2.01
	 	 Conveyance of Loans
	  	 	1	 
	 Section 2.02
	 	 Acceptance by Issuer
	  	 	3	 
	 Section 2.03
	 	 Representations and Warranties of the Depositor Relating to the Depositor
	  	 	3	 
	 Section 2.04
	 	 [Reserved]
	  	 	5	 
	 Section 2.05
	 	 Representations and Warranties of the Depositor Relating to this Agreement and the Loans
	  	 	5	 
	 Section 2.06
	 	 Repurchase Obligations
	  	 	6	 
	 Section 2.07
	 	 Covenants of the Depositor
	  	 	7	 
	 Section 2.08
	 	 Addition of Loans
	  	 	9	 
	 Section 2.09
	 	 Optional Purchase and Optional Call
	  	 	10	 
	 Section 2.10
	 	 Optional Reassignment of Loans
	  	 	10	 
	 Section 2.11
	 	 Optional Sale of Charged-Off Loans
	  	 	11	 
	 Section 2.12
	 	 Issuer Loan Exclusions
	  	 	12	 
	 Section 2.13
	 	 Investment Company Act Restriction
	  	 	12	 
		
	ARTICLE III	  	 	 
	ADMINISTRATION AND SERVICING OF LOANS	  	 	 
			
	 Section 3.01
	 	 Acceptance of Appointment and Other Matters Relating to the Servicer
	  	 	12	 
	 Section 3.02
	 	 Servicing Compensation
	  	 	13	 
	 Section 3.03
	 	 Representations, Warranties and Covenants of the Servicer and each Subservicer
	  	 	14	 
	 Section 3.04
	 	 Adjustments
	  	 	17	 
	 Section 3.05
	 	 Back-up Servicing Agreement
	  	 	17	 
	 Section 3.06
	 	 Monthly Servicer Report
	  	 	17	 
	 Section 3.07
	 	 Annual Compliance Certificate
	  	 	17	 
	 Section 3.08
	 	 Copies of Reports Available
	  	 	18	 
	 Section 3.09
	 	 Notices To Regional Management Corp
	  	 	18	 
	 Section 3.10
	 	 Subservicing
	  	 	18	 
	 Section 3.11
	 	 Custody of Receivable Files.
	  	 	19	 

  
 - i - 

							
	ARTICLE IV	  	 	 
	COLLECTIONS AND ALLOCATIONS	  	 	 
			
	 Section 4.01
	 	 Collections and Allocations
	  	 	21	 
		
	ARTICLE V	  	 	 
	OTHER MATTERS RELATING TO THE DEPOSITOR	  	 	 
			
	 Section 5.01
	 	 Liability of the Depositor
	  	 	21	 
	 Section 5.02
	 	 Merger or Consolidation of the Depositor
	  	 	21	 
	 Section 5.03
	 	 Limitations on Liability of the Depositor
	  	 	22	 
	 Section 5.04
	 	 Limitations on Liability of the Depositor
	  	 	23	 
		
	ARTICLE VI	  	 	 
	OTHER MATTERS RELATING TO THE SERVICER AND THE SUBSERVICERS	  	 	 
			
	 Section 6.01
	 	 Liability of Servicer and the Subservicers
	  	 	23	 
	 Section 6.02
	 	 Merger or Consolidation of, or Assumption of the Obligations of, the Servicer or a
Subservicer
	  	 	23	 
	 Section 6.03
	 	 Limitation on Liability of the Servicer, the Subservicers and Others
	  	 	24	 
	 Section 6.04
	 	 Servicer Indemnification of the Issuer, the Owner Trustee and the Indenture Trustee
	  	 	25	 
	 Section 6.05
	 	 Resignation of the Servicer and the Subservicers
	  	 	26	 
	 Section 6.06
	 	 Access to Certain Documentation and Information Regarding the Loans
	  	 	26	 
	 Section 6.07
	 	 Delegation of Duties
	  	 	27	 
	 Section 6.08
	 	 Examination of Records
	  	 	27	 
	 Section 6.09
	 	 Servicer Power of Attorney
	  	 	27	 
		
	ARTICLE VII	  	 	 
	INSOLVENCY EVENTS	  	 	 
			
	 Section 7.01
	 	 Rights upon the Occurrence of an Insolvency Event
	  	 	27	 
		
	ARTICLE VIII	  	 	 
	SERVICER DEFAULTS	  	 	 
			
	 Section 8.01
	 	 Servicer Defaults
	  	 	28	 
	 Section 8.02
	 	 Indenture Trustee to Act; Appointment of Successor
	  	 	30	 
	 Section 8.03
	 	 Rule 15Ga-1 Compliance
	  	 	31	 
		
	ARTICLE IX	  	 	 
	TERMINATION	  	 	 
			
	 Section 9.01
	 	 Termination of Agreement as to Servicing
	  	 	32	 

  

	
	SALE AND SERVICING AGREEMENT (RMIT 2020-1) - Page ii -

							
		
	ARTICLE X	  	 	 
	MISCELLANEOUS PROVISIONS	  	 	 
			
	 Section 10.01
	 	 Amendment; Waiver of Past Defaults; Assignment
	  	 	32	 
	 Section 10.02
	 	 Protection of Right, Title and Interest of Issuer
	  	 	34	 
	 Section 10.03
	 	 GOVERNING LAW
	  	 	35	 
	 Section 10.04
	 	 Notices
	  	 	35	 
	 Section 10.05
	 	 Severability
	  	 	37	 
	 Section 10.06
	 	 Further Assurances
	  	 	37	 
	 Section 10.07
	 	 Nonpetition Covenant
	  	 	38	 
	 Section 10.08
	 	 No Waiver; Cumulative Remedies
	  	 	38	 
	 Section 10.09
	 	 Counterparts; Execution
	  	 	38	 
	 Section 10.10
	 	 Binding Effect; Third-Party Beneficiaries
	  	 	39	 
	 Section 10.11
	 	 Merger and Integration
	  	 	39	 
	 Section 10.12
	 	 Headings
	  	 	39	 
	 Section 10.13
	 	 Schedules and Exhibits
	  	 	39	 
	 Section 10.14
	 	 Survival of Representations and Warranties
	  	 	39	 
	 Section 10.15
	 	 Limited Recourse
	  	 	39	 
	 Section 10.16
	 	 Rights of the Indenture Trustee
	  	 	41	 
	 Section 10.17
	 	 Series Liabilities
	  	 	41	 
	 Section 10.18
	 	 Intention of the Parties
	  	 	41	 
	 Section 10.19
	 	 Additional Subservicers
	  	 	41	 
	 Section 10.20
	 	 Limitation of Liability of WTNA
	  	 	42	 
	 Section 10.21
	 	 EU Risk Retention
	  	 	43	 

  

					
	SCHEDULES	  		 	
			
	Schedule I	  	—	 	List of Subservicers
	Schedule II	  	—	 	Part A – Definitions Schedule
		  		 	Part B – Rules of Construction
	Schedule III	  	—	 	Perfection Representations, Warranties and Covenants
	Schedule IV	  	—	 	Loan Level Representations, Warranties and Covenants
			
	EXHIBITS	  		 	
			
	Exhibit A-1	  	—	 	Form of Initial Loan Assignment
	Exhibit A-2	  	—	 	Form of Additional Loan Assignment
	Exhibit B	  	—	 	Form of Annual Compliance Certificate
	Exhibit C	  	—	 	Form of Loan Reassignment
	Exhibit D	  	—	 	Form of Accession Agreement
	Exhibit E	  	—	 	Conditions to Accession
	Exhibit F	  	—	 	Rule 15Ga-1 Information
	Exhibit G	  	—	 	Form of Limited Power of Attorney

  

	
	SALE AND SERVICING AGREEMENT (RMIT 2020-1) - Page iii -

 SALE AND SERVICING AGREEMENT, dated as of September 23, 2020 (this
“Agreement”), among REGIONAL MANAGEMENT RECEIVABLES III, LLC, a Delaware limited liability company, as depositor (the “Depositor”), REGIONAL MANAGEMENT CORP., a Delaware corporation, as servicer (the
“Servicer”), the Subservicers Party Hereto as identified in Schedule I hereto, REGIONAL MANAGEMENT ISSUANCE TRUST 2020-1, a Delaware statutory trust, as issuer (the
“Issuer”), and REGIONAL MANAGEMENT NORTH CAROLINA RECEIVABLES TRUST, acting hereunder solely with respect to the 2020-1A SUBI (the “North Carolina Trust”). 

BACKGROUND 
 Under this
Agreement, the Depositor will sell, from time to time, to the Issuer certain consumer loans and on the Closing Date, the 2020-1A SUBI Certificate. The Issuer intends to grant a security interest in those loans
and in the 2020-1A SUBI Certificate to the Indenture Trustee pursuant to the Indenture. 

AGREEMENT 
 In
consideration of the mutual agreements herein contained, each party agrees as follows for the benefit of the other parties and the Noteholders to the extent provided herein and in the Indenture: 

ARTICLE I 
 DEFINITIONS

 Section 1.01 Definitions. Certain capitalized terms in this Agreement are defined in and shall have the respective
meanings assigned to them in Part A of Schedule II to this Agreement. The rules of construction set forth in Part B of Schedule II shall be applicable to this Agreement. 

ARTICLE II 
 CONVEYANCE
OF LOANS 
 Section 2.01 Conveyance of Loans. (a) In consideration of the Issuer’s promise to pay the Purchase
Price with respect to the Sold Assets, the Depositor does hereby sell, transfer, convey, assign, set-over and otherwise convey to the Issuer from time to time, without recourse except as provided herein, all
its right, title and interest in, to and under, whether now owned or hereafter acquired (i) the Purchased Assets, (ii) the right to receive all Collections with respect to the Purchased Assets after the applicable Cut-Off Date, (iii) all rights of the Depositor under the Loan Purchase Agreement and (iv) all proceeds thereof (such property, collectively, the “Sold Assets”); provided, however, that
the Sold Assets shall not include any (x) Reassigned Loan released in connection with any Issuer Loan Release or (y) Loan reconvened to the Depositor, Servicer or Subservicer in accordance with the express terms hereof. Purchased Assets
shall not include any Loan reconveyed to the Seller in accordance with the terms hereof. For the avoidance of doubt, although the 2020-1A SUBI Certificate conveyed by the Depositor to the Issuer hereunder
represents a beneficial interest in the 2020-1A SUBI Loans, no 2020-1A SUBI Loans are being sold hereunder, and the 2020-1A SUBI
Loans continue to be the property of the North Carolina Trust. 

  

	
	SALE AND SERVICING AGREEMENT (RMIT 2020-1) - Page 1 -

 The foregoing does not constitute and is not intended to result in the creation or an
assumption by the Issuer, the Owner Trustee (as such or in its individual capacity), the Indenture Trustee or any Noteholder of any obligation of the Seller, the Depositor, the Servicer or any other Person in connection with the Loans or under any
agreement or instrument relating thereto, including any obligations to Loan Obligors. 
 (b) In consideration for the purchase of the Sold
Assets hereunder, the Issuer hereby agrees, subject to Article VIII of the Indenture, to pay to the Depositor on the Closing Date and, on each Payment Date, as applicable, the Purchase Price for the related Sold Assets, which shall consist of
(i) the Notes, (ii) with respect to any Additional Loans, Collections available for such purpose under the Indenture, including funds on deposit in the Principal Distribution Account and (iii) the Trust Certificate or, so long as the
Depositor is the holder of the Trust Certificate, an increase in the value thereof. 
 (c) The Depositor agrees to authorize, record and
file, at the expense of the Depositor, on or within ten (10) days of the Closing Date, all the financing statements (and amendments to financing statements when applicable) with respect to the Loans and the other Sold Assets meeting the
requirements of applicable law in such manner and in such jurisdictions as are necessary to perfect, and maintain the perfection of, the transfer and assignment of the Loans and the other Sold Assets to the Issuer as a first-priority ownership
interest, and to deliver a file stamped copy of each such financing statement or other evidence of such filing to the Issuer and, in the case of amendments to financing statements, as soon as practicable after receipt thereof by the Depositor. In
the event that any transfer of Sold Assets on any Addition Date requires any filing or documents necessary to maintain the interest of the Issuer and its assigns as a first-priority perfected ownership interest, the Depositor shall cause all such
filings and recordings to be made on or within ten (10) days of the date of such transfer and promptly provide evidence thereof to the Issuer. 

(d) On or prior to the Closing Date or the relevant Addition Date, as applicable, the Depositor shall mark its electronic records with respect
to each Loan sold hereunder with a designation to indicate that such Loans and the related Sold Assets have been sold to the Issuer under this Agreement and a security interest therein has been granted to the Indenture Trustee under the Indenture.
The Depositor shall not change any of these entries in its computer files relating to any such Loan or related Sold Assets except in connection with any Loan that ceases to be a Sold Asset; provided, that after a Loan shall have been repaid in full
(and all Collections in respect thereof shall have been deposited into the Collection Account), such entries may be removed consistent with the Credit and Collection Policy. 

(e) The Depositor shall deliver to the Issuer a Loan Schedule, together with the Initial Loan Assignment, on the Closing Date, identifying the
Initial Loans sold hereunder by the Depositor and the 2020-1A SUBI Certificate sold by the Depositor to the Issuer on the Closing Date. In addition, the Depositor agrees no later than the Monthly Determination
Date following the end of each Collection Period, to deliver or cause to be delivered to the Issuer, an updated Loan Schedule all Loans that will constitute Sold Assets as of the close of business on the related Loan Action Date (after giving effect
to all Loan Actions on such Loan Action Date). Such Loan Schedule shall also separately identify each Loan that will be designated as an Excluded Loan. 

  

	
	SALE AND SERVICING AGREEMENT (RMIT 2020-1) - Page 2 -

 (f) The parties intend that the transfer of the Sold Assets to the Issuer by the Depositor
be an absolute sale and not a secured borrowing. If the transaction under this Agreement were determined to be a loan rather than an absolute sale despite this intent of the parties, the transfers provided for in this Agreement shall be deemed to be
the grant of, and the Depositor hereby grants to the Issuer a first-priority security interest in all of such entity’s right, title, and interest, whether now owned or hereafter acquired, in, to, and under the Sold Assets to secure the payment
and performance of all obligations of the Depositor under this Agreement including the obligation to cause the sale of Sold Assets and the payment of all monies due under the Sold Assets to the Issuer and its assigns. This grant is a protective
measure and must not be construed as evidence of any intent contrary to the one expressed in the first sentence of this paragraph, nor should the intent expressed in the first sentence of this paragraph be deemed to be an expression of the intended
tax treatment of the conveyance of the Sold Assets. 
 Section 2.02 Acceptance by Issuer. (a) The Issuer hereby
acknowledges its acceptance of all right, title and interest to the Sold Assets purchased by, and conveyed to, the Issuer pursuant to Section 2.01. The Issuer further acknowledges that, prior to or simultaneously with the
execution and delivery of this Agreement, the Depositor delivered to it a Loan Schedule relating to the Initial Loans (other than the 2020-1A SUBI Loans). 

(b) The Issuer hereby agrees not to disclose to any Person any of the loan numbers or other information contained in the Loan Schedule
(including any supplement thereto) except (i) to the Servicer (or any Subservicer), the Back-up Servicer, the Image File Custodian or as required by a Requirement of Law applicable to the Owner Trustee,
the Issuer or the North Carolina Trustees, (ii) in connection with the performance of any of the Issuer’s duties hereunder, (iii) to the Indenture Trustee in connection with its duties in enforcing the rights of Noteholders,
(iv) to the Seller or (v) to bona fide creditors or potential creditors of the Seller, the Depositor or the Issuer for the limited purpose of enabling any such creditor to identify applicable Loans subject to this Agreement, the 2020-1A SUBI Supplement, the 2020-1A SUBI Servicing Agreement, the Purchase Agreement, the Loan Purchase Agreement or the Indenture, provided they agree to keep such
information confidential. The Issuer agrees to take such measures as shall be reasonably requested by the Depositor to protect and maintain the security and confidentiality of such information and, in connection therewith, shall allow the Depositor
or its duly authorized representatives to inspect the Owner Trustee’s security and confidentiality arrangements as they specifically relate to the administration of the Issuer from time to time during normal business hours upon prior written
notice. 
 (c) The Issuer shall not create, assume or incur indebtedness or other liabilities in the name of the Issuer other than as
expressly contemplated in the Transaction Documents. 
 Section 2.03 Representations and Warranties of the Depositor Relating to the
Depositor. The Depositor hereby represents and warrants to the Issuer, as of the Closing Date and each Addition Date that: 

  

	
	SALE AND SERVICING AGREEMENT (RMIT 2020-1) - Page 3 -

 (a) Organization. The Depositor is a limited liability company validly existing and
in good standing under the laws of, and is duly qualified to do business in, the jurisdiction of its organization, and has full power and authority to own its properties and conduct its business as presently owned or conducted, and to execute,
deliver and perform its obligations under this Agreement, the Trust Agreement, the Purchase Agreement, the Loan Purchase Agreement and each other Transaction Document to which it is a party. 

(b) Due Qualification. The Depositor is duly qualified to do business and is in good standing, as a Delaware limited liability company,
and has obtained all necessary licenses and approvals (whether directly or indirectly through the Seller or a Subservicer in the applicable jurisdiction), in each jurisdiction in which failure to so qualify or to obtain such licenses and approvals
would have an Adverse Effect. 
 (c) Due Authorization. The execution and delivery by the Depositor of this Agreement and any
Transaction Document to which it is a party and the consummation by the Depositor of the transactions provided for in this Agreement and any Transaction Document to which it is a party have been duly authorized by all necessary action on the part of
the Depositor. 
 (d) No Conflict. The execution and delivery by the Depositor of this Agreement and any Transaction Document to which
it is a party and the performance by the Depositor of the transactions contemplated by this Agreement and any Transaction Document to which it is a party and the fulfillment by the Depositor of the terms hereof and thereof applicable to the
Depositor, will not conflict with or violate the organizational documents of the Depositor or any Requirements of Law applicable to the Depositor or conflict with, result in any breach of any of the terms and provisions of, or constitute (with or
without notice or lapse of time or both) a default under, any indenture, contract, agreement, mortgage, deed of trust or other instrument to which the Depositor is a party or by which it or its properties are bound. 

(e) Enforceability. Each of this Agreement and each other Transaction Document to which the Depositor is a party is a legal, valid and
binding obligation of the Depositor and is enforceable against the Depositor in accordance with its terms, except as enforceability may be limited by Debtor Relief Laws or general principles of equity; 

(f) No Proceedings. There are no Proceedings or investigations pending before any Governmental Authority or, to the best knowledge of
the Depositor, threatened, against the Depositor (i) asserting the invalidity of this Agreement or any other Transaction Document to which the Depositor is a party, (ii) seeking to prevent the consummation of any of the transactions
contemplated by this Agreement or any other Transaction Document to which the Depositor is a party, (iii) seeking any determination or ruling that, in the reasonable judgment of the Depositor, would materially and adversely affect the
performance by the Depositor of its obligations under this Agreement or any other Transaction Document to which it is a party, (iv) seeking any determination or ruling that would materially and adversely affect the validity or enforceability of
this Agreement or any other Transaction Document to which the Depositor is a party or (v) seeking to affect adversely the income or franchise tax attributes of the Issuer under the U.S. federal or any state income or franchise tax systems. 

  

	
	SALE AND SERVICING AGREEMENT (RMIT 2020-1) - Page 4 -

 (g) All Consents. All authorizations, consents, orders or approvals of or
registrations or declarations with any Governmental Authority required to be obtained, effected or given by the Depositor in connection with the execution and delivery by the Depositor of this Agreement and any Transaction Document to which it is a
party and the performance of the transactions contemplated by this Agreement and any Transaction Document to which it is a party have been duly obtained, effected or given and are in full force and effect. 

(h) Investment Company Act. It is not an “investment company” required to be registered under the Investment Company Act. 

Section 2.04 [Reserved].  

Section 2.05 Representations and Warranties of the Depositor Relating to this Agreement and the Loans.  

(a) Representations and Warranties. The Depositor hereby represents and warrants to the Issuer and the Servicer as of the Closing Date,
as of each Addition Date and, with respect to each Loan, as of the applicable Cut-Off Date that: 

(i) the Loan Schedule, in the case of the Closing Date, or the applicable Additional Loan Assignment Schedule in the case of an
Addition Date, identifies all of the Loans conveyed by the Depositor to the Issuer or allocated to the 2020-1A SUBI, as applicable, on the Closing Date or such Addition Date, as applicable, and each such Loan
is in all material respects as described in the Loan Schedule or as will be described in the Additional Loan Assignment Schedule, as applicable, and when delivered to the Issuer by the Depositor the information contained in the Loan Schedule or
Additional Loan Assignment Schedule, as applicable, with respect to each Loan will be true, correct and complete in all material respects as of the related Cut-Off Date; 

(ii) with respect to (x) the Initial Loans (other than the 2020-1A SUBI Loans) and
the 2020-1A SUBI Certificate on the Closing Date and (y) with respect to any Additional Loans (other than the 2020-1A SUBI Loans), upon the applicable Addition
Date, this Agreement constitutes a valid sale, transfer, assignment and conveyance to the Issuer of all right, title and interest of the Depositor conveyed to the Issuer by the Depositor and the proceeds thereof or, if this Agreement does not
constitute a sale of such property, it constitutes a grant of a security interest in such property (and any right, title and interest therein) to the Issuer, which is enforceable upon execution and delivery of this Agreement and the Initial Loan
Assignment, in the case of any Initial Loan (other than any 2020-1A SUBI Loan), and upon the execution and delivery of the applicable Additional Loan Assignment on such Addition Date, in the case of any
Additional Loan (other than any 2020-1A SUBI Loan). Upon the filing of the applicable financing statements, the Issuer shall have a first-priority perfected security interest or ownership interest in such
property and proceeds; 

  

	
	SALE AND SERVICING AGREEMENT (RMIT 2020-1) - Page 5 -

 (iii) each Loan conveyed by the Depositor to the Issuer hereunder on the
Closing Date or the relevant Addition Date, as applicable, was an Eligible Loan as of the applicable Cut-Off Date for such Loan; 

(iv) each of the representations and warranties of the Seller set forth in Section 4.02(a) of the Loan Purchase Agreement
as of the Closing Date or such Addition Date, as applicable, is true and correct as of such date; 
 (v) other than the
security interest granted and the conveyance to the Issuer pursuant to this Agreement, the Depositor has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Sold Assets described in
Section 2.01 except as expressly permitted hereunder; and 
 (vi) each of the representations and
warranties set forth in Schedule III is true and correct as of the Closing Date or such Addition Date, as applicable. 

Notwithstanding any other provision of this Agreement or any other Transaction Document, the perfection representations contained in
Schedule III shall be continuing, and remain in full force and effect until such time as this Agreement terminates pursuant to Section 9.01 of this Agreement. The parties to this Agreement: (A) shall not waive
any of the perfection representations contained in Schedule III without satisfying the Rating Agency Notice Requirement; (B) shall provide each Rating Agency with prompt written notice of any material breach of perfection representations
contained in Schedule III and (C) shall not waive a breach of any of the perfection representations contained in Schedule III without satisfying the Rating Agency Notice Requirement. 

In addition, in the case of an Excluded Loan that is de-designated as such on any Loan Action Date,
the Depositor represents and warrants to the Issuer and the Servicer as of such Payment Date that such Loan would constitute an Eligible Loan as of the end of the related Collection Period if the last day of such Collection Period were deemed to be
such Loan’s Cut-Off Date. 
 (b) Notice of Breach. The representations and warranties set
forth in this Section 2.05 shall survive the transfers and assignments of the Loans to the Issuer, the grant of a security interest in the Loans to the Indenture Trustee pursuant to the Indenture, and the issuance of the
Notes. Upon discovery by the Depositor, the Servicer or the Issuer of a breach of any of the representations and warranties set forth in this Section 2.05, the party discovering such breach shall give notice to the other
parties and to the Indenture Trustee within five (5) Business Days following such discovery; provided that the failure to give notice within five (5) Business Days does not preclude subsequent notice. 

Section 2.06 Repurchase Obligations. (a) Upon obtaining actual knowledge of, or receipt of written notice by, the Indenture
Trustee or the Issuer of a breach of any representation or warranty contained in Section 2.05(a) hereof (or under Section 4.02(a) of the Loan Purchase Agreement as incorporated pursuant to
Section 2.05(a)(iv) of this Agreement) by the Depositor with respect to a Loan sold hereunder to the Issuer at the time such representations and warranties were made, which breach materially adversely affects the interests
of the Noteholders in such 

  

	
	SALE AND SERVICING AGREEMENT (RMIT 2020-1) - Page 6 -

 
Loan, the party discovering or receiving notice of such breach shall give prompt written notice thereof to the Seller, the Depositor, the Issuer and the Indenture Trustee (it being understood
that the discovering party shall not be required to notify itself); provided, that the Indenture Trustee shall not be deemed to have discovered, or deemed to have notice or knowledge of, any event, including, without limitation, with respect to a
breach of any of the representations and warranties set forth herein or any other Transaction Document, unless a Responsible Officer of the Indenture Trustee has actual knowledge or shall have received written notice thereof. In the case of a breach
of any representation or warranty contained in Section 2.05(a)(i), (iii), (iv) or (vi) hereof, the Depositor shall immediately exercise its rights under Section 6.01 of the Loan Purchase
Agreement to require the Seller to cure such breach, or if such breach is not cured during the applicable cure period, to repurchase such Loan, in each case, in accordance with and subject to Section 6.01 of the Loan Purchase Agreement. The
obligations of the Depositor to require the Seller to cure or the obligations of the Depositor to repurchase the affected Loan shall constitute the sole and exclusive remedy, under this Agreement or otherwise, against the Depositor in respect of a
breach by the Depositor of any representations or warranties contained in Section 2.05(a)(i), (iii), (iv) or (vi) hereof. In the case of a breach of any representation or warranty contained in
Section 2.05(a)(ii) or (v) with respect to any Loan, which breach materially adversely affects the interests of the Noteholders in such Loan (any such breach, a “Direct Depositor Breach”), the
Depositor shall either cure such breach in all material respects within forty-five (45) days from the date on which the Depositor is notified of, or discovered, such breach or repurchase the affected Loan at the applicable Repurchase Price in
accordance with Section 2.06(b) hereof. The obligations of the Depositor to so cure such breach or repurchase the affected Loan shall constitute the sole and exclusive remedy under this Agreement or otherwise against the
Depositor in respect of a breach by the Depositor of any representations or warranties contained in Section 2.05(a)(ii) or (v) hereof. 

(b) In the event that the Depositor has not cured any Direct Depositor Breach within the applicable forty-five day period in accordance with
(and to the extent required by) Section 2.06(a) hereof, the Depositor must repurchase its interests in the affected Loan on the first Payment Date following the end of the Collection Period in which such forty-five day
period expired; provided, that, in order to effectuate such repurchase, the Depositor shall deposit into the Collection Account, on or prior to such Payment Date, an amount equal to the Repurchase Price for such Loan in immediately available
funds. Upon receipt of the applicable Repurchase Price in the Collection Account and release of such Loan from the lien of the Indenture in accordance with the terms thereof, automatically and without further action, the Issuer hereby sell to the
Depositor without recourse, representation, or warranty, all of each of the Issuer’s right, title and interest in, to, and under (i) such Loan, (ii) with respect to the Issuer, the right to receive Collections in respect of such Loan
from and after the date of such repurchase, (iii) all Sold Assets relating to such Loan and (iv) all proceeds of any of the property and assets described in the foregoing clauses (i) through (iii). The Issuer shall
execute such documents and instruments of transfer or assignment and take such other actions as shall reasonably be requested and provided by the party repurchasing such Loan to effect the conveyance of such Loan. 

Section 2.07 Covenants of the Depositor. The Depositor hereby covenants to the Issuer and the Servicer, that: 

(a) Security Interests. Except for the conveyances hereunder, the Depositor shall not sell, pledge, assign or transfer to any other
Person, or grant, create, incur, assume or suffer to exist any Encumbrance arising through or under the Depositor on, any Sold Assets conveyed by it to the Issuer or any interest therein, and the Depositor shall defend the right, title and interest
of the Issuer and the Indenture Trustee in, to and under the Sold Assets, against all claims of third parties claiming through or under the Depositor. 

  

	
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 (b) Trust Certificates. Except in connection with any transaction permitted by
Regulation RR and Section 5.02 and as provided in the Indenture and the Trust Agreement, the Depositor agrees not to transfer, sell, assign, exchange, participate or otherwise convey or pledge, hypothecate or otherwise
grant a security interest in the Trust Certificates held by the Depositor, and any such attempted transfer, assignment, exchange, conveyance, pledge, hypothecation, grant or sale shall be void. 

(c) Delivery of Collections. In the event that the Depositor receives Collections, the Depositor agrees to deposit such Collections into
the Collection Account as soon as practicable after receipt thereof. 
 (d) Notice of Encumbrances. The Depositor shall notify the
Owner Trustee and the Indenture Trustee promptly after becoming aware of any Encumbrance on any Sold Asset conveyed by it to the Issuer other than the conveyances hereunder and under the Loan Purchase Agreement and the Indenture. 

(e) Amendment of the Certificate of Formation and Limited Liability Agreement. The Depositor will not amend in any respect its
certificate of formation, the Depositor LLC Agreement or other organizational documents unless (i) the Rating Agency Notice Requirement is satisfied, (ii) the Depositor shall have provided to the Indenture Trustee and the Issuer an
Officer’s Certificate of the Depositor, dated as of the date of such amendment, stating that such amendment is not reasonably expected to result in an Adverse Effect and (iii) such amendment is effected in accordance with the terms of the
applicable organizational document. 
 (f) Separate Existence. The Depositor agrees to comply with the separateness covenants in
Section 4.01 of the Depositor LLC Agreement. 
 (g) Amendments to Loan Purchase Agreement. The Depositor further covenants that
it shall not enter into, or consent to, any amendments, modifications, waivers or supplements to, or terminations of, the Loan Purchase Agreement or enter into a new Loan Purchase Agreement, without the prior written consent of the Issuer. 

(h) Enforcement of Loan Purchase Agreement. The Depositor shall take all steps, as directed by the Issuer (or the Indenture Trustee at
the written direction of the Required Noteholders), to enforce its rights (and the rights of the Issuer and the Indenture Trustee as assignees of the Depositor) against any Seller with respect to any matter arising under the Loan Purchase Agreement.

 (i) Taxes. The Depositor shall pay out of its own funds, without reimbursement, the costs and expenses relating to any stamp,
documentary, excise, property (whether on real, personal or intangible property) or any similar tax levied on the Issuer or the Issuer’s assets that are not expressly stated in this Agreement to be payable by the Issuer (other than federal,
state, local and foreign income and franchise taxes, if any, or any interest or penalties with respect thereto, assessed on the Issuer). 

  

	
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 (j) Bankruptcy Limitations. The Depositor shall not, without the affirmative vote of
each of the managers of the Depositor (which must include the affirmative vote of the duly appointed Independent Manager as defined in the Depositor LLC Agreement): (A) to the fullest extent permitted by applicable law, dissolve or liquidate, in
whole or in part, or institute proceedings to be adjudicated bankrupt or insolvent, (B) consent to the institution of bankruptcy or insolvency proceedings against it, (C) file a voluntary bankruptcy petition or any other petition seeking,
or consent to, reorganization or relief under any applicable federal or state law relating to bankruptcy, (D) consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Depositor or a
substantial part of its property, (E) make a general assignment for the benefit of creditors, (F) admit in writing its inability to pay its debts generally as they become due, or (G) take any entity action in furtherance of the
actions set forth in clauses (A) through (F) above.  
 (k) Depositor Acting for Another Issuer. The
Depositor shall not act as depositor for another issuer under a different securitization unless the Depositor delivers an Officer’s Certificate to the Indenture Trustee to the effect that, based upon due inquiry, it has reasonably concluded
that acting as depositor for such other issuer under such securitization will not adversely affect the holders of the Notes in any material respect. 

Section 2.08 Addition of Loans. (a) The Depositor, with the consent of the Issuer (which it may provide or withhold in its
sole discretion), may designate from time to time Additional Loans to be sold to the Issuer pursuant to this Agreement in exchange for the Purchase Price, in each case on the applicable Addition Date. 

(b) On the applicable Addition Date with respect to any Additional Loans (which shall be a Payment Date), the Issuer shall acquire such
Additional Loans and the Depositor shall make the following representations on such Addition Date: 
 (i) as of such Addition
Date, no Insolvency Event with respect to the Depositor shall have occurred and the transfer to the Issuer of such Additional Loans was not made in contemplation of the occurrence thereof; 

(ii) as of the applicable Addition Date, the Revolving Period was then in effect; 

(iii) as of the applicable Addition Date, the Depositor reasonably believed that the transfer of such Additional Loans to the
Issuer would not result in an Adverse Effect; 
 (iv) as of the applicable Addition Date, the Depositor shall not have used
selection procedures reasonably believed by the Depositor to be materially adverse to the interests of the Issuer or any Class of Noteholders in selecting such Additional Loans to be conveyed to the Issuer; and 

  

	
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 (v) in connection with any such acquisition by the Issuer, the terms of the
Indenture (including, without limitation, Section 8.07 thereof) have been complied with in all material respects. 
 Notwithstanding
the foregoing, no such acquisition of any Additional Loans by the Issuer hereunder shall occur on any Addition Date unless, on or prior to such Addition Date, the Depositor shall have delivered to the Issuer an Additional Loan Assignment with
respect to the Additional Loans for such Addition Date, together with an Additional Loan Assignment Schedule with respect to such Additional Loans. 

Section 2.09 Optional Purchase and Optional Call. (a) On any Business Day occurring on or after the date on which the
Aggregate Note Balance of the Outstanding Notes is reduced to 10% or less of the Initial Note Balance, the Servicer shall have the option to purchase all of the Sold Assets at a purchase price equal to the Redemption Price in accordance with
Section 8.08(a) of the Indenture (an “Optional Purchase”). If the Servicer elects to exercise such Optional Purchase, it shall comply with all applicable conditions set forth in Sections 8.08(a) and (c) of the
Indenture. Upon proper exercise of such Optional Purchase and deposit of the Redemption Price into the Principal Distribution Account and the Collection Account in accordance with Section 8.08(c) of the Indenture, all of the Sold Assets to be
sold in connection with such Optional Purchase shall be sold to the Servicer. Such Redemption Price shall be applied to the Notes in accordance with the provisions for the redemption of such Notes on the applicable Redemption Date as set forth in
the Indenture. 
 (b) At any time on or after the date on which the Loans and related Sold Assets are released from the lien of the Indenture
in connection with an Optional Call pursuant to Section 8.05(i) of the Indenture, such Loans and related Sold Assets may be sold, distributed, transferred or otherwise disposed of at the direction of the Depositor in its sole discretion. 

Section 2.10 Optional Reassignment of Loans. (a) Subject to Sections 8.05 and 8.07 of the Indenture, on any Loan Action Date
occurring during the Revolving Period, the Servicer (at the direction of the Depositor or, in the case of 2020-1A SUBI Loans, the Initial Beneficiary), at its sole option, may require reassignment (or
reallocation, as applicable) from the Issuer of its interests in Loans that were not Charged-Off Loans or Delinquent Loans, in each case, as of the end of the immediately preceding Collection Period;
provided, that the Servicer shall select such Loans in a manner that the Issuer and the Servicer reasonably believe is not materially adverse to the interests of any Class of Noteholders. Any such Loans shall be reassigned to the
Depositor (or in the case of any 2020-1A SUBI Loan, reallocated from the 2020-1A SUBI) for the Reassignment Price applicable to such Loans, such Reassignment Price to be
paid (i) with respect to Reassigned Loans other than 2020-1A SUBI Loans, for so long as the Depositor is the holder of the Trust Certificate, and at the Depositor’s option, by an adjustment to the
value of the Trust Certificate, if such adjustment is available, in which case the Issuer will not receive a cash payment; provided, that no adjustment to the value of the Trust Certificate shall cause
non-compliance with Regulation RR) or (ii) otherwise, in immediately available funds to the Servicer (to be deposited in the Principal Distribution Account). Neither the Servicer (on behalf of the
Depositor or the Initial Beneficiary, as applicable) nor the Depositor shall cause any such reassignment (or reallocation, as applicable) to occur on any Loan Action Date unless: (x) (i) no Reinvestment Criteria Event is outstanding and
(ii) the reassignment of such Loans constitutes a Permitted Reassignment, in each case, after giving effect to all Loan Actions that occur on such Loan Action Date and (y) the Reassignment Price shall have been paid as described above. No
such reassignment may cause the Issuer to breach or otherwise violate any provision of the Indenture.  

  

	
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 (b) To cause any such reassignment or reallocation, as applicable, of Loans, the Servicer
(on behalf of the Depositor or, in the case of 2020-1A SUBI Loans, the Initial Beneficiary) shall take the following actions and make the following determinations: 

(i) on or before the Monthly Determination Date relating to the Loan Action Date on which such reassignment or reallocation, as
applicable, is to occur (such Loan Action Date, the “Reassignment Date”), furnish to the Issuer, the Indenture Trustee and each Rating Agency a written notice specifying the Loans which are expected to be reassigned from the Issuer
or reallocated from the 2020-1A SUBI, as applicable; 
 (ii) on or prior to the
applicable Reassignment Date, the Servicer shall supplement the Loan Schedule by delivering to the Issuer and the Indenture Trustee a computer file or microfiche or written list (which may be in electronic form, acceptable to the Indenture Trustee)
containing a true and complete list of the Loans that are to be reassigned or reallocated, as applicable, on such Reassignment Date, specifying for each such Loan, its loan number, Loan Principal Balance and the Subservicer, in each case as of the
end of the Collection Period immediately preceding the Collection Period in which such Reassignment Date occurs; and 
 (iii)
represent and warrant that the list of Loans delivered pursuant to clause (ii), as of the Reassignment Date, is true and complete in all material respects. 

Within five (5) Business Days after the applicable Reassignment Date of a Loan (other than a
2020-1A SUBI Loan), the Issuer shall deliver to the Depositor a Loan Reassignment substantially in the form of Exhibit C, together with any appropriate UCC releases or termination statements prepared
and filed on behalf of the Issuer. 
 Section 2.11 Optional Sale of Charged-Off Loans.
The Servicer (or any Affiliate of the Servicer) may undertake to locate a third party purchaser that is not affiliated with the initial Servicer, any of its Affiliates, the Seller, the Depositor or the Issuer to purchase from the Issuer any Charged-Off Loans, and shall have the right to direct the Issuer to sell any such Loans to such third party purchaser; provided that all recoveries and other amounts collected by the Issuer, the Depositor or the
Servicer (or any Affiliate of the Servicer) with respect to any Charged-Off Loan (including proceeds of any disposition by the Servicer or any Affiliate thereof to any third party) in accordance with the
Credit and Collection Policy shall be paid to the Issuer, by deposit in the Collection Account. 

  

	
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 Section 2.12 Issuer Loan Exclusions. Subject to the conditions specified in, and
in accordance with, Section 8.07 of the Indenture and the further conditions specified in this Section 2.12, on any Loan Action Date during the Revolving Period, the Servicer (at the direction of the Depositor or the
Initial Beneficiary, as applicable) may require the Issuer to designate one or more Loans included in the Sold Assets (or in the case of the 2020-1A SUBI, one or more
2020-1A SUBI Loans) as an Excluded Loan or cause one or more Loans included in the Sold Assets (or in the case of the 2020-1A SUBI, one or more 2020-1A SUBI Loans) to cease to be designated as an Excluded Loan. For the avoidance of doubt, until such time as an Excluded Loan ceases to be so designated, it shall not be included in the Loan Action Date Loan
Pool on any Loan Action Date (including the Loan Action Date on which it is designated as an Excluded Loan, but excluding the Loan Action Date on which it is de-designated as such) or taken into account for
purposes of determining whether or not a Reinvestment Criteria Event has occurred as of the end of the Collection Period preceding any such Loan Action Date, but it shall otherwise continue to constitute a Sold Asset (or in the case of the 2020-1A SUBI, a 2020-1A SUBI Loan) and all Collections in respect thereof during any Collection Period shall constitute Available Funds on the corresponding Payment Date. The
designation of a Loan or 2020-1A SUBI Loan as an Excluded Loan shall be effected by the delivery by the Depositor (or the Servicer on its behalf) to the Issuer and the Indenture Trustee on or before the
Monthly Determination Date relating to applicable Loan Action Date of a report identifying each such expected Loan (by loan number and Seller and Subservicer) as an Excluded Loan. The Excluded Loans outstanding from time to time for any Loan Action
Date shall be identified as such on each Loan Schedule delivered on the Monthly Determination Date relating to such Loan Action Date. On any Loan Action Date during the Revolving Period, an Excluded Loan may be
de-designated as such by the delivery by the Depositor (or the Servicer on its behalf) to the Issuer and the Indenture Trustee on or before the Monthly Determination Date relating to such Loan Action Date of a
report identifying each such expected Loan (by loan number and Seller and Subservicer) as ceasing to be designated as an Excluded Loan. No Excluded Loan may be de-designated as such on any Loan Action Date
unless such Loan would constitute an Eligible Loan as of the close of business on the last day of the Collection Period immediately preceding such Loan Action Date if such last day were deemed to be such Loan’s
Cut-Off Date. 
 Section 2.13 Investment Company Act Restriction. Notwithstanding
anything to the contrary in this Agreement, the Depositor and the Issuer hereby acknowledge and agree that neither the Depositor nor the Issuer shall, and neither shall be required to, acquire any additional Loans (or, in the case of North Carolina
Loans, beneficial interests therein) or related assets, or purchase, repurchase, reassign or otherwise dispose of any Loans (or, in the case of North Carolina Loans, beneficial interests therein) or related assets pursuant to this Agreement, for the
primary purpose of recognizing gains or decreasing losses for the Depositor or the Issuer as a result of market value changes. 
 ARTICLE
III 
 ADMINISTRATION AND SERVICING OF LOANS 

Section 3.01 Acceptance of Appointment and Other Matters Relating to the Servicer. (a) The Issuer and the North Carolina
Trust authorizes Regional Management to act as initial Servicer (but without transfer to Regional Management of the Issuer’s right to service the Loans) and Regional Management agrees to act as the initial Servicer, in each case hereunder. 

  

	
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 (b) The Servicer shall service and administer the Loans, shall collect and deposit into the
Collection Account or other applicable Note Account amounts received under the Loans, shall charge off Loans deemed to be uncollectible and shall extend, amend or otherwise modify Loans, all in accordance with its customary and usual servicing
procedures for servicing consumer loans comparable to the Loans and in accordance with the Credit and Collection Policy and all applicable Requirements of Law. The Servicer shall have full power and authority, acting alone or through any party
properly designated by it hereunder and under the 2020-1A SUBI Servicing Agreement, including the Subservicers, to do any and all things in connection with such servicing and administration which it may deem
necessary or desirable. Without limiting the generality of the foregoing and subject to Section 8.01, the Servicer or its designee is hereby authorized and empowered, unless such power is revoked by the Indenture Trustee on
account of the occurrence of a Servicer Default pursuant to Section 8.01, (i) to make withdrawals or to instruct the Indenture Trustee to make withdrawals from any Note Account permitted by the terms of this Agreement or
the Indenture and (ii) to execute and deliver, on behalf of the Issuer any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, to effect, on behalf of the Issuer and the North Carolina Trust with
respect to Loans in accordance with the requirements of this Agreement and the 2020-1A SUBI Servicing Agreement and after the delinquency of any Loan and to the extent permitted under and in compliance with
applicable Requirements of Law, to commence collection proceedings with respect to such Loans. The Issuer, and the Indenture Trustee shall furnish the Servicer with any documents reasonably requested by the Servicer or otherwise necessary to enable
the Servicer to carry out its servicing and administrative duties hereunder; provided, however, that none of the Owner Trustee or the Indenture Trustee shall be liable for any negligence with respect to, or misuse of, any such
documents by the Servicer or any of its agents and the Servicer shall hold the Owner Trustee and the Indenture Trustee harmless against any losses, claims, damages, fines or penalties of any nature incurred in connection therewith. 

(c) The Servicer shall pay out of its own funds, without payment or reimbursement therefor (except as provided in
Section 3.02 hereof), all fees, costs and expenses incurred by the Servicer in connection with the servicing activities hereunder and under the 2020-1A SUBI Servicing Agreement,
including expenses related to enforcement of the Loans. 
 (d) The Servicer shall not be required to use separate servicing operations,
offices, employees or accounts for servicing the Loans from the operations, offices, employees and accounts used by the Servicer in connection with servicing other consumer loans. 

(e) The Servicer shall: (i) not amend any related Contract other than on a per customer basis in accordance with the Credit and Collection
Policy; (ii) comply, in all material respects, with the terms and conditions of the related Contracts; and (iii) promptly inform the Issuer, and the Depositor of any material billing errors, claims, disputes or litigation with respect to
the related Loans. 
 Section 3.02 Servicing Compensation. As full compensation for its servicing activities hereunder and as
reimbursement for its expenses as set forth in the immediately following paragraph, the Servicer shall be entitled to receive the Servicing Fee payable in arrears on each Payment Date on or prior to the termination of the Issuer pursuant to the
terms of the Trust Agreement. The “Servicing Fee” for any Payment Date, other than the Initial Payment Date, shall 

  

	
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be an amount equal to the product of (i) 4.75%, multiplied by (ii) the aggregate Loan Principal Balance as of the first day of the related Collection Period, multiplied by (iii) one-twelfth. The Servicing Fee for the Initial Payment Date shall be an amount equal to the product of (i) 4.75%, multiplied by (ii) the aggregate Loan Principal Balance as of the Initial Cut-Off Date, multiplied by (iii) one-twelfth. The Servicing Fee shall be payable to the Servicer solely to the extent that amounts are available for payment in
accordance with the terms of the Indenture (including by the Servicer retaining Collections in an amount up to the aggregate accrued and unpaid Servicing Fee). For the avoidance of doubt, such Servicing Fee shall also constitute compensation for the
Servicer’s services rendered pursuant to the 2020-1A SUBI Servicing Agreement and related North Carolina Trust Documents. 

The Servicer’s fees, costs and expenses include the reasonable fees and disbursements of attorneys, independent accountants and all other
fees, costs and expenses incurred by the Servicer in connection with its activities hereunder, including, without limitation, any fees payable to any Subservicer or any other Person performing any of the Servicer’s duties and obligations
hereunder. The Servicer shall be required to pay such fees, costs and expenses for its own account and shall not be entitled to any payment or reimbursement therefor or to any fee or other payment from, or claim on, any of the assets in the Trust
Estate (other than the Servicing Fee). Notwithstanding the foregoing, no Successor Servicer will be responsible to pay the fees and expenses of the Issuer. 

The Issuer and the Servicer acknowledge and agree that (i) the servicing arrangements provided for in this Agreement and under the 2020-1A SUBI Servicing Agreement, including the Servicing Fee, are on terms consistent with those arrived at as a result of arm’s length negotiations and that they are typical of servicing arrangements made for
servicing assets such as the Loans, (ii) the Servicing Fee is expected to more than cover the anticipated costs associated with the performance by the Servicer of its obligations hereunder with respect to the Loans, other Sold Assets and the
other 2020-1A SUBI Assets, and constitutes fair consideration and reasonable compensation to the Servicer for the performance of such obligations, and (iii) an unaffiliated third party having the
requisite experience servicing assets such as the Loans would be willing to assume the servicing obligations hereunder for compensation commensurate with the Servicing Fee. 

Section 3.03 Representations, Warranties and Covenants of the Servicer and each Subservicer. The Servicer, each Subservicer and
any Successor Servicer by its appointment hereunder hereby makes, with respect to itself only, on the Closing Date (or on the date of the appointment of such Successor Servicer) and on each Addition Date, the following representations, warranties
and covenants on which each of (x) the Issuer shall be deemed to rely in accepting its interest in the Loans, (y) the Image File Custodian and the Back-up Servicer shall be deemed to have relied in
accepting its appointment as Image File Custodian and Back-up Servicer, respectively, under the Back-up Servicing Agreement, and (z) the Indenture Trustee shall be
deemed to have relied in accepting the grant of a security interest in the Loans and in entering into the Indenture: 
 (a)
Organization. It is an organization validly existing and in good standing under the laws of, and is duly qualified to do business in, the jurisdiction of its incorporation or organization and has, in all material respects, full power and
authority to own its properties and conduct its consumer loan business as presently owned or conducted, and to execute, deliver and perform its obligations under this Agreement and each other Transaction Document to which it is a party. 

  

	
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 (b) Due Qualification. It is in good standing and duly qualified to do business (or
is exempt from such requirements) and has obtained all necessary licenses and approvals (in the case of the Servicer, whether directly or indirectly through a Subservicer in the applicable jurisdiction) in each jurisdiction in which it is performing
the primary servicing function for any of the Loans under this Agreement, except where the failure to be in good standing, so qualify or obtain licenses or approvals would not have an Adverse Effect. 

(c) Due Authorization. The execution, delivery, and performance by it of this Agreement and the other agreements and instruments
executed and delivered by it as contemplated hereby, have been duly authorized by all necessary action on the part of such party. 
 (d)
Binding Obligation. This Agreement and each other Transaction Document to which it is a party constitutes a legal, valid and binding obligation of such party, enforceable in accordance with its terms, except as such enforceability may be
limited by applicable Debtor Relief Laws or by general principles of equity (whether considered in a proceeding at law or in equity). 
 (e)
No Conflict. The execution and delivery of this Agreement and each Transaction Document to which it is a party by it, and the performance by it of the transactions contemplated by this Agreement and the fulfillment by it of the terms hereof
and thereof applicable to such party, will not conflict with, violate or result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time or both) a default under, any material indenture, contract,
agreement, mortgage, deed of trust or other instrument to which it is a party or by which it or its properties are bound, except for any such conflict, violation, breach or default which would not have an Adverse Effect. 

(f) No Violation. The execution and delivery by it of this Agreement and each other Transaction Document to which it is a party, the
performance by it of the transactions contemplated by this Agreement and each other Transaction Document to which it is a party and the fulfillment by it of the terms hereof and thereof applicable to such party will not conflict with or violate any
Requirements of Law applicable to such party. 
 (g) No Proceedings. There are no Proceedings or investigations pending against it
before any Governmental Authority or, to the best of its knowledge, threatened, seeking to prevent the consummation of any of the transactions contemplated by this Agreement or seeking any determination or ruling that, in the reasonable judgment of
such party, would materially and adversely affect the performance by it of its obligations under this Agreement and the other Transaction Documents to which it is a party. 

(h) Compliance with Requirements of Law; Credit and Collection Policy. It shall (i) duly satisfy all obligations on its part to be
fulfilled hereunder and the 2020-1A SUBI Servicing Agreement or in connection with each Loan and will maintain in effect all qualifications required under Requirements of Law in order to service properly each
Loan; (ii) comply in all material respects with its Credit and Collection Policy and (iii) comply with all other Requirements of Law in connection with servicing each Loan the failure to comply with which would have an Adverse Effect. 

  

	
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 (i) No Modification, Rescission or Cancellation. It shall not permit any amendment,
waiver, modification, rescission or cancellation of any Loan, except in accordance with its Credit and Collection Policy, as required by Requirements of Law or as ordered by a court of competent jurisdiction or other Governmental Authority. 

(j) Protection of Rights. It shall take no action which, nor omit to take any action the omission of which, would impair, in any
material respect, the rights of the Issuer or the Indenture Trustee in any Loan, nor shall it reschedule, revise or defer payments due on any Loan, in each case except in accordance with its Credit and Collection Policy or as required by
Requirements of Law. 
 (k) Credit and Collection Policy. It shall not, and shall not permit any Subservicer to, amend, modify, waive
or supplement the Credit and Collection Policy in any manner that could reasonably be expected to result in an Adverse Effect, except as required by Requirements of Law or as ordered by a court of competent jurisdiction or other Governmental
Authority. 
 (l) Further Assurances. It shall do and perform, from time to time, such acts as are within its power and authority as
the Servicer or a Subservicer, as applicable, to maintain the perfection and priority of the security interests in the Loans granted hereunder and under the Loan Purchase Agreement. 

(m) [Reserved.] 
 (n)
Change in Underwriting Guidelines. The Servicer shall notify each Rating Agency of any change to the underwriting guidelines contained in the Credit and Collection Policy that could reasonably be expected to result in an Adverse Effect. 

In the event any representation, warranty or covenant of the Servicer or any Subservicer contained in paragraphs (h), (i) or
(j) of this Section 3.03 with respect to any Loan is breached (the “Applicable Representations”), which breach materially adversely affects the interests of the Noteholders in such Loan, and is
not cured within forty-five (45) days from the first date on which the Servicer or the breaching Subservicer either (y) is notified by the Issuer, the Indenture Trustee, the Servicer (with respect to any Subservicer), the North Carolina
Trustees or the Depositor of such breach, or (z) discovered such breach, then any Loan or Loans to which such event relates shall be assigned and transferred to the Servicer (or, in the case of the
2020-1A SUBI Loans, reallocated at the direction of the Servicer) on the terms and conditions set forth below. 

The Servicer shall effect such assignment or reallocation, as applicable, by making a deposit into the Collection Account or other applicable
Note Account in immediately available funds not later than the Payment Date immediately following the Collection Period in which such forty-five day period expired in an amount equal to the Repurchase Price of the affected Loans as of the date of
such deposit. The obligation of the Servicer to accept reassignment, reallocation or assignment of such Loans, and to make the deposits, if any, required to be made to the Collection Account or other applicable Note Account as provided in the
preceding paragraph, shall constitute the sole remedy available to the Issuer, the Depositor, the North Carolina Trust, the Noteholders or the Indenture Trustee with respect to a breach of such Applicable Representations, except as provided in
Section 6.04. 

  

	
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 Upon each such assignment to, reallocation or purchase by the Servicer, the Issuer shall
automatically and without further action sell, transfer, assign, set-over and otherwise convey to the Servicer, without recourse, representation or warranty, all right, title and interest of the Issuer in and
to such Loans, all monies due or to become due and all amounts received or receivable with respect thereto and all proceeds thereof. The Issuer shall execute such documents and instruments of transfer or assignment and take such other actions as
shall be reasonably requested by the Servicer to effect the conveyance of any such Loans pursuant to this Section 3.03 but only upon receipt of an Officer’s Certificate of the Servicer that states that all conditions
set forth in this Section have been satisfied. 
 Section 3.04 Adjustments. If (i) the Servicer or any Subservicer makes a
deposit into the Collection Account or other applicable Note Account in respect of a Collection of a Loan and such Collection was received by the Servicer or such Subservicer in the form of a check or other payment which is not honored or is
reversed for any reason or (ii) the Servicer or any Subservicer makes a mistake with respect to the amount of any Collection and deposits an amount that is less than or more than the actual amount of such Collection, the Servicer or such
Subservicer shall appropriately adjust the amount subsequently deposited into the Collection Account or other applicable Note Account to reflect such dishonored or reversed payment or mistake. Any such adjustment shall be reflected in the records of
the Servicer or the applicable Subservicer with respect to such Loan. 
 Section 3.05
Back-up Servicing Agreement. (a) The Servicer shall comply with its obligations under the Back-up Servicing Agreement and the other Transaction Documents to
which it is a party (in its capacity as Servicer). 
 (b) Each Subservicer hereby agrees that it shall cooperate with the Servicer in the
performance of the Servicer’s duties under the Back-up Servicing Agreement, during any Servicing Centralization Period and any Servicing Transition Period. 

Section 3.06 Monthly Servicer Report. Not later than the Monthly Determination Date relating to each Payment Date, but in no event
later than the second Business Day preceding each Payment Date, the Servicer shall deliver to the Issuer, each Rating Agency, the Back-up Servicer, the Owner Trustee and the Indenture Trustee the Monthly
Servicer Report, in substantially the form set forth in the Indenture. The Servicer shall calculate and provide to the Indenture Trustee in writing all applicable original issue discount information relating to the Notes in a timely manner in order
to enable the Indenture Trustee to perform any reporting obligations with respect thereto. 
 Section 3.07 Annual Compliance
Certificate. The Servicer shall deliver to the Issuer, each Rating Agency and the Indenture Trustee on or before March 31 of each calendar year, beginning with March 31, 2022, an Officer’s Certificate substantially in the form of
Exhibit B hereto, together with an agreed upon procedures letter delivered by a firm of nationally recognized independent public accountants (who may also render other services to the Servicer or the Seller) with respect to the
Servicer’s activities under the Transaction Documents. 

  

	
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 Section 3.08 Copies of Reports Available. A copy of each Monthly Servicer Report
and Officer’s Certificate (but not letters or reports from the independent public accountants) provided pursuant to Section 3.06 or 3.07 will be made available by the Indenture Trustee to the Noteholders via its
website at www.ctslink.com. 
 Section 3.09 Notices To Regional Management Corp. In the event that Regional Management is
no longer acting as Servicer, any Successor Servicer shall deliver to the Issuer, each Rating Agency, the Owner Trustee and the Indenture Trustee each Monthly Servicer Report, Officer’s Certificate and report required to be provided thereafter
pursuant to Section 3.06, 3.07 or 3.08. 
 Section 3.10 Subservicing. (a) Each
Subservicer shall be responsible for the servicing and administration of the Loans for which such Subservicer is designated as the Subservicer on the Loan Schedule; provided, however, that the Servicer may redesignate the Subservicers
for particular Loans from time to time; provided, further, that any such redesignation will comply with licensing regulations applicable to such Subservicers. Each Subservicer shall service and administer the related Loans in
accordance with the provisions of Section 3.01. As part of its servicing activities hereunder, the Servicer shall enforce the obligations of each Subservicer under this Agreement. Such enforcement, including, without
limitation, the legal prosecution of claims, termination of Subservicers, and the pursuit of other appropriate remedies, shall be in such form and carried out to such an extent and at such time as the Servicer, in its good faith business judgment,
would require were it the owner of the related Loans. The Servicer shall pay the costs of such enforcement at its own expense. 
 (b) The
Servicer shall be entitled to terminate the subservicing of the Loans by any Subservicer under this Agreement at any time in its sole discretion. In the event of termination of any Subservicer, the Servicer shall either (A) directly service the
related Loans, but only to the extent the Servicer has the regulatory authorizations to do so, or (B) appoint another duly licensed Subservicer to service and administer such Loans and, in either case, such entity shall assume all such
servicing obligations immediately upon such termination. Notwithstanding anything else to the contrary contained herein, all rights and obligations of the Subservicers under this Agreement shall terminate upon the occurrence of a Servicing Transfer
Date (including the Servicing Assumption Date) and the related successor Servicer will not be required to enforce the obligations of any prior Subservicer that has been terminated in connection with such Servicing Transfer Date; provided,
however, that any Subservicer may be engaged (and each Subservicer has agreed to reasonably cooperate with the Back-up Servicer or any other Successor Servicer in arranging any such engagement) by any
Successor Servicer, including the Back-up Servicer, on terms reasonably satisfactory to such Subservicer, to provide servicing and administration of the Loans subject to the direction of such Successor
Servicer (including the Back-up Servicer). 
 (c) Each Subservicer shall make available to the
Servicer sufficient information relating to the subservicing of Loans under this Agreement so as to enable the Servicer to prepare and deliver the Monthly Servicer Report and Officer’s Certificate required by Sections 3.06 and
3.07 of this Agreement. Each Subservicer will provide or cause to be provided to the independent service provider selected by the Servicer to furnish any report required by Section 3.07 of this Agreement sufficient
information relating to the subservicing of Loans under this Agreement, or reasonable access to the premises of such Subservicer, as reasonably required by such independent service provider to furnish such report required by
Section 3.07 of this Agreement. 

  

	
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 (d) Each Subservicer shall be entitled to compensation for its services as a Subservicer
under this Agreement by the Servicer as agreed to by the Servicer and such Subservicer, and no Subservicer will be entitled to any fee or other payment from, or claim on, any of the assets in the Trust Estate. 

(e) Notwithstanding the appointment of the Subservicers for any such servicing and administration of the related Loans or any other purpose
hereunder, the Servicer shall remain obligated and solely liable to the Issuer, the North Carolina Trust, the Indenture Trustee and the Noteholders for the servicing and administering of the Loans in accordance with the provisions of
Section 3.01 without diminution of such obligation or liability by virtue of such subservicing arrangement to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering
the Loans. 
 (f) The parties hereto acknowledge and agree that Regional North Carolina will act as the Subservicer with respect to the 2020-1A SUBI Assets. 
 Section 3.11 Custody of Receivable Files. 

(a) Custody. The Issuer, the North Carolina Trust and the Indenture Trustee, upon the execution and delivery of this Agreement, hereby
revocably appoint the Servicer, and the Servicer hereby accepts such appointment, to act as the agent (solely in its capacity as Servicer under the Transaction Documents) of the Issuer, the North Carolina Trust and the Indenture Trustee, solely in
the Servicer’s capacity as custodian of the Contracts. 
 (b) Safekeeping. The Servicer, in its capacity as custodian, or a
Subservicer, appointed by the Servicer as subcustodian pursuant to Section 3.11(e), shall hold the Contracts (i) in physical form or (ii) with respect to each Loan originated in electronic form, in electronic form in the Electronic
Vault. The custodian or, if applicable, any Subservicer appointed by it as subcustodian (in the case of Loans held in physical form) will hold such Contracts for the benefit of the Issuer and the Indenture Trustee, as pledgee of the Issuer or the
North Carolina Trust, as applicable; provided, that the Servicer, in its capacity as custodian, shall ensure that the Electronic Contracts are maintained by the Electronic Vault Provider as a designated custodian of the Indenture Trustee (for
the benefit of the Noteholders) in the Electronic Vault. The Electronic Vault will be controlled by the Servicer in its capacity as custodian hereunder. In performing its duties as custodian, the Servicer shall act in accordance with its customary
servicing practices. The Servicer will promptly report to the Issuer, the 2020-1A SUBI Trustee and the Indenture Trustee any failure on its part (or, if applicable, a subcustodian’s part) to hold a
material portion of the Contracts (including Electronic Contracts) and maintain its account, records, and computer systems as herein provided and promptly take appropriate action to remedy any such failure. Nothing herein will be deemed to require
an initial review or any periodic review by the Issuer or the Indenture Trustee of the Contracts. The Servicer may, in accordance with its customary servicing practices, maintain all or a portion of a Contract in electronic form in the Electronic
Vault 

  

	
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and/or maintain custody of all or any portion of a Contract with one or more Persons to whom the Servicer has delegated responsibilities in accordance with Section 6.07. The Servicer will
maintain each Contract in the United States (it being understood that (i) the Contracts, or any part thereof, may be maintained at the offices of any Person to whom the Servicer has delegated responsibilities in accordance with
Section 6.07 and (ii) Electronic Contracts shall be maintained in the Electronic Vault). The Servicer will make available to the Issuer and the Indenture Trustee or their duly authorized representatives, attorneys or auditors a list of
locations of the Contracts upon request. Notwithstanding any reference herein or in any other Transaction Document to the Electronic Vault Provider acting as a designated custodian of the Indenture Trustee, the parties hereto acknowledge and agree
that the Indenture Trustee shall not be liable for, and shall have no duty to supervise or monitor, the default, misconduct or any other action or omission of the Electronic Vault Provider, and that the Indenture Trustee may assume the Electronic
Vault Provider’s performance of its duties and obligations under the Transaction Documents. The Servicer shall cause the Electronic Vault to reflect the name of the applicable Owner of Record as follows: “Regional Management Issuance Trust
2020-1/Regional Management NC Receivables Trust, solely with respect to 2020-1A SUBI”. 

(c) Effective Period and Termination. The Servicer’s appointment as custodian with respect to any Loan shall become effective as of
the Cut-Off Date for such Loan and will continue in full force and effect until terminated pursuant to this Section 3.11(c) (or such Loan ceases to be a Sold Asset or
2020-1A SUBI Asset, as applicable); provided, the Servicer’s appointment as custodian in respect of the Initial Loans shall be deemed to have been effective as of the Initial Cut-Off Date. If Regional Management resigns as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of the Servicer have been terminated under Section 8.01, the
Indenture Trustee may (and upon the written direction of the Required Noteholders shall) terminate the appointment of the Servicer as custodian hereunder in the same manner as the Indenture Trustee may terminate the rights and obligations of the
Servicer under Section 8.01. In the event that the Custodian is terminated in such capacity, each Subservicer will be terminated as subcustodian for each Loan with respect to which it is then acting in such capacity. Upon the resignation or
termination of the Servicer in accordance with this Agreement, control of the Contracts in the Electronic Vault shall be transferred to the Back-up Servicer to the extent it becomes the successor servicer in
accordance with this Agreement, or another successor servicer. In the event that the Back-up Servicer assumes servicing responsibilities or a successor Servicer, as applicable, is appointed, the outgoing
Servicer shall promptly transfer to the Back-up Servicer or a successor Servicer, as applicable, in such manner and to such location as the Back-up Servicer or a
successor Servicer, as applicable, shall reasonably designate, all of the Contracts and other Related Loan Assets in its possession or control; provided, however, if the Back-up Servicer is the successor
Servicer, it shall (i) notify the Electronic Vault Provider of the transfer of servicing responsibilities to the Back-up Servicer as Successor Servicer and (ii) accept the transfer of possession of
the Electronic Vault to the Back-up Servicer as Successor Servicer; it being agreed by the Servicer that it shall reasonably cooperate with the Back-up Servicer with
respect to effecting any such election, notification or transfer. 
 (d) Establishment of Imaging System. Other than with respect to
any Electronic Contract, the Servicer shall maintain an imaging system through which the original physical Contract and, with respect to any Hard Secured Loan, the original physical certificate of title with respect to the Titled Asset securing such
Hard Secured Loan may be imaged and captured through a standalone PDF, or another electronic medium, device and validated through an internal, controlled process with images captured, stored and identifiable at a central location as a backup to
physical documentation. For the avoidance of doubt, the Servicer shall cause imaged files with respect to which the related Contract is an Electronic Contract to be stored in the Electronic Vault and such imaged files will not be delivered to or
reviewed or retained by the Image File Custodian. 

  

	
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 (e) Subcustodian. The Servicer, in its capacity as custodian, may appoint a
Subservicer as subcustodian with respect to any Contract pursuant to Section 6.07. In the event that the custodian is terminated in such capacity hereunder, each subcustodian will be terminated as subcustodian for each Loan
with respect to which it is then acting in such capacity. 
 ARTICLE IV 

COLLECTIONS AND ALLOCATIONS 

Section 4.01 Collections and Allocations. (a) The Servicer shall comply with its obligations in Article VIII of the
Indenture. 
 (b) Each Subservicer shall deliver any Collections received by such Subservicer to the Servicer for deposit into the Collection
Account in accordance with Section 8.03 of the Indenture. 
 ARTICLE V 

OTHER MATTERS RELATING TO THE DEPOSITOR 

Section 5.01 Liability of the Depositor. The Depositor shall be liable for all obligations, covenants, representations and
warranties of the Depositor arising under or related to this Agreement and each other Transaction Document to which it is a party. The Depositor shall be liable only to the extent of the obligations specifically undertaken by it in its capacity as a
Depositor. 
 Section 5.02 Merger or Consolidation of the Depositor. (a) The Depositor shall not dissolve, liquidate,
consolidate with or merge into any other corporation, limited liability company or other entity or convey, transfer or sell (other than conveyances hereunder) its properties and assets substantially as an entirety to any Person unless: 

(i) the entity formed by such consolidation or into which the Depositor is merged or the Person which acquires by conveyance,
transfer or sale the properties and assets of the Depositor substantially as an entirety shall be, if the Depositor is not the surviving entity, organized and existing under the laws of the United States of America or any state or the District of
Columbia, and shall be a special purpose corporation or other special purpose entity whose powers and activities are limited and, if the Depositor is not the surviving entity, such entity or Person shall expressly assume, by a written agreement
supplemental hereto, executed and delivered to the Servicer, the Issuer and the Indenture Trustee, in form reasonably satisfactory to the Servicer, the Issuer and the Indenture Trustee, the performance of every covenant and obligation of the
Depositor hereunder; 

  

	
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 (ii) the Depositor or the surviving or transferee entity, as the case may
be, has delivered to the Issuer and the Indenture Trustee (with a copy to each Rating Agency) (A) an Officer’s Certificate of the Depositor or such entity stating that such consolidation, merger, conveyance, transfer or sale and such
supplemental agreement complies with this Section 5.02 and that all conditions precedent herein provided for relating to such transaction have been complied with and (B) an Officer’s Certificate of the Depositor
or such entity and an Opinion of Counsel each stating that such supplemental agreement is a valid and binding obligation of such surviving entity enforceable against such surviving entity in accordance with its terms, except as such enforceability
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally from time to time in effect or general principles of equity; 

(iii) the Depositor or the surviving or transferee entity, as the case may be, has delivered to the Indenture Trustee and the
Servicer an Officer’s Certificate of the Depositor or such entity to the effect that in the reasonable belief of the Depositor or such entity, such consolidation, merger, conveyance, transfer, sale or other specified action will not have an
Adverse Effect; and 
 (iv) the Rating Agency Notice Requirement with respect to such consolidation, merger, conveyance,
transfer, sale or other specified action has been satisfied. 
 Promptly upon such consolidation, merger, conveyance, transfer or sale, the
Depositor shall deliver written notice of the same to each Rating Agency. 
 (b) Except in connection with a transaction permitted under the
foregoing clause (a), the obligations, rights or any part thereof of the Depositor hereunder shall not be assignable nor shall any Person succeed to such obligations or rights of the Depositor hereunder. The sale or other conveyance of Loans
by the Depositor to the Issuer under this Agreement shall not constitute a conveyance, transfer or sale of its properties or assets substantially as an entirety to any Person for purposes of this Section 5.02. 

Section 5.03 Limitations on Liability of the Depositor. Subject to Section 5.01, none of the Depositor
or any of the directors, officers, employees, agents, members or managers of the Depositor acting in such capacities shall be under any liability to the Issuer, the Servicer, any Subservicer, the Seller, the North Carolina Trust, the Owner Trustee,
the Indenture Trustee, the Noteholders or any other Person for any action taken or for refraining from the taking of any action in good faith in such capacities pursuant to this Agreement or any other Transaction Document, it being expressly
understood that such liability is expressly waived and released as a condition of, and consideration for, the execution of this Agreement; provided, however, that this provision shall not protect the Depositor or any such Person
against any liability which would otherwise be imposed by reason of willful misfeasance, bad faith or gross negligence in the performance of its duties or by reason of reckless disregard of obligations and its duties hereunder. The Depositor and any
director, officer, employee, member or manager or agent of the Depositor may rely in good faith on any document of any kind prima facie properly executed and submitted by any Person (other than the Depositor) respecting any matters arising
hereunder. 

  

	
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 Section 5.04 Limitations on Liability of the Depositor. 

(a) The Depositor shall not enter into any Permitted Securitization Transaction Document in connection with any Permitted Securitization unless
such Permitted Securitization Transaction Document contains provisions substantially similar in form, substance and effect to Sections 10.07(a) and 10.15(a) hereof and Section 11.19 of the Indenture and Section 9.14 of the
Loan Purchase Agreement. 
 (b) Other than the Transaction Documents, the Depositor shall not enter into any Permitted Securitization
Transaction Document except in connection with a Permitted Securitization. 
 ARTICLE VI 

OTHER MATTERS RELATING TO THE SERVICER AND THE SUBSERVICERS 

Section 6.01 Liability of Servicer and the Subservicers. The Servicer and the Subservicers shall be liable under this Article
VI only to the extent of the obligations specifically undertaken by the Servicer or such Subservicer in its capacity as Servicer or Subservicer, as applicable, subject to Section 3.10(e). 

Section 6.02 Merger or Consolidation of, or Assumption of the Obligations of, the Servicer or a Subservicer. Neither the initial
Servicer nor a Subservicer shall consolidate with or merge into any other corporation, limited partnership, limited liability company or other entity or convey, transfer or sell its properties and assets substantially as an entirety to any Person
(other than any conveyance, transfer or sale by a Subservicer of its properties and assets to the initial Servicer or another Subservicer, provided that the transferor Subservicer continues to exist after such conveyance, transfer or sale), unless:

 (a) (i) in the case of any such event by the initial Servicer, the entity formed by such consolidation or merger into which the initial
Servicer is merged (in each case, if other than the initial Servicer) or the Person which acquires by conveyance, transfer or sale the properties and assets of the initial Servicer substantially as an entirety shall be an Eligible Servicer (after
giving effect to such consolidation, merger or transfer) and (ii) in the case of any such event by the initial Servicer or any Subservicer, if the initial Servicer or such Subservicer is not the surviving Person, such surviving Person shall
expressly assume, by a written agreement supplemental hereto, executed and delivered to the Issuer, the Indenture Trustee and the Depositor in a form reasonably satisfactory to the Issuer, the Indenture Trustee and the Depositor, the performance of
every covenant and obligation of the initial Servicer or such Subservicer hereunder and under each other Transaction Document to which it is a party; 

  

	
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 (b) the initial Servicer or the Subservicer, as applicable, or the surviving Person of such
consolidation or merger or Person which acquires the properties and assets of the initial Servicer or Subservicer, as the case may be, has delivered to the Issuer, the Indenture Trustee and the Depositor (A) an Officer’s Certificate of the
initial Servicer, such Subservicer or such entity, as applicable, stating that such consolidation, merger, conveyance, transfer or sale complies with this Section 6.02 and that, in the reasonable determination of the
officer signing such Officer’s Certificate, such consolidation, merger, conveyance, transfer or sale will not have an Adverse Effect, and (B) an Opinion of Counsel stating that such supplemental agreement described in clause
(a) is a valid and binding obligation of such surviving or transferee Person enforceable against such Person in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium or other similar laws affecting creditors’ rights generally from time to time in effect or general principles of equity; and 

(c) the Rating Agency Notice Requirement with respect to such consolidation, merger, conveyance, transfer or sale has been satisfied, 

provided, however, that the sale by the Seller of Loans to the Depositor under the Loan Purchase Agreement shall not be a conveyance, transfer
or sale of its properties or assets substantially as an entirety to any Person for purposes of this Section 6.02. 

Upon any such merger, consolidation or transfer of all or substantially all of the assets of the initial Servicer or a Subservicer in
accordance with this Section 6.02, the surviving or transferee Person shall be the successor to and substituted for the initial Servicer or such Subservicer, as applicable, for all purposes under this Agreement. 

If a Successor Servicer consolidates with, merges or converts into, or transfers or sells all or substantially all of its corporate trust
business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation or banking association without any further act shall be the successor to and substituted for such Successor Servicer for all
purposes under this Agreement. 
 Section 6.03 Limitation on Liability of the Servicer, the Subservicers and Others.
(a) Except as provided in Section 6.04, neither the Servicer nor any of the directors, officers, partners, members, managers, employees or agents of the Servicer in its capacity as Servicer shall be under any liability
to the Issuer, the Owner Trustee, the North Carolina Trust, the Indenture Trustee, the Noteholders or any other Person for any action taken or for refraining from the taking of any action in good faith in its capacity as Servicer in accordance with
this Agreement and the 2020-1A SUBI Servicing Agreement; provided, however, that this provision shall not protect the Servicer or any such Person against any liability which would otherwise be imposed by
reason of willful misfeasance, bad faith or negligence (or, if the Servicer is not Regional Management, gross negligence) in the performance of its duties or by reason of reckless disregard of its obligations and its duties hereunder. The Servicer
and any director, officer, employee, partner, shareholder, member or manager or agent of the Servicer may rely in good faith on any document of any kind prima facie properly executed and submitted by any Person (other than the Servicer) respecting
any matters arising hereunder. The Servicer shall not be under any obligation to appear in, prosecute or defend any legal action which is not incidental to its duties as Servicer in accordance with this Agreement and which in its reasonable judgment
may involve it in any material expense or liability. In furtherance of its obligations hereunder, the Servicer may, in its sole discretion, undertake any such legal action which it may deem necessary or desirable for the benefit of the Issuer and
the Noteholders with respect to this Agreement and the rights and duties of the parties hereto and the interests of the Issuer and the Noteholders hereunder. 

  

	
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 (b) Except as provided in Section 6.04, neither any Subservicer
nor any of the directors, officers, partners, shareholders members, managers, employees or agents of a Subservicer in its capacity as a Subservicer shall be under any liability to the Issuer, the Owner Trustee, the North Carolina Trust, the
Indenture Trustee, the Noteholders, the Servicer or any other Person for any action taken or for refraining from the taking of any action in good faith in its capacity as a Subservicer pursuant to this Agreement; provided, however, that this
provision shall not protect a Subservicer or any such Person against any liability which would otherwise be imposed by reason of willful misfeasance, bad faith or negligence (or, if such Subservicer is not an Affiliate of Regional Management, gross
negligence) in the performance of its duties or by reason of reckless disregard of its obligations and its duties hereunder. Each Subservicer and any director, officer, employee, partner, member or manager or agent of a Subservicer may rely in good
faith on any document of any kind prima facie properly executed and submitted by any Person (other than such Subservicer) respecting any matters arising hereunder. No Subservicer shall be under any obligation to appear in, prosecute or defend
any legal action which is not incidental to its duties as a Subservicer in accordance with this Agreement and which in its reasonable judgment may involve it in any expense or liability. 

Section 6.04 Servicer Indemnification of the Issuer, the Owner Trustee and the Indenture Trustee. The Servicer shall indemnify and
hold harmless each of the Issuer, the Owner Trustee (as such and in its individual capacity), the Indenture Trustee (as such and in its individual capacity) and any trustees predecessor thereto (including the Indenture Trustee in its capacity as
Note Registrar), and the Back-up Servicer (as such and in its individual capacity), the North Carolina Trust, the North Carolina Trustees and their respective directors, officers, employees, partners, members
or managers and agents from and against any and all loss, liability, expense, damage or injury suffered or sustained by reason of any acts or omissions of the Servicer (including in its capacity as 2020-1A
SUBI Servicer and as custodian of any Contracts pursuant to Section 3.11) or a Subservicer with respect to the Issuer in breach of this Agreement or the 2020-1A SUBI Servicing
Agreement or any other Transaction Document to which the Servicer is a party (other than such as may arise from the gross negligence or willful misconduct of the Owner Trustee, the Back-up Servicer or the
Indenture Trustee, as applicable), including any judgment, award, settlement, reasonable attorneys’ fees and other costs or expenses incurred in connection with the defense of any action, Proceeding or claim. In addition, the Servicer shall
indemnify and hold the Issuer harmless for any tax or fee to which the Issuer or the North Carolina Trust becomes subject in any jurisdiction by reason of the Servicer or a Subservicer being located in such jurisdiction or performing servicing
activities in such jurisdiction. Indemnification pursuant to this Section 6.04 shall not be payable from the Sold Asset or the 2020-1A SUBI Assets. Notwithstanding anything to the
contrary herein, neither the Servicer nor any Subservicer shall in any event be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, without limitation, loss of profit) irrespective of
whether the Servicer or such Subservicer, as applicable, has been advised of the likelihood of such loss or damage and regardless of the form of action. 

  

	
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 Section 6.05 Resignation of the Servicer and the Subservicers. (a) The
Servicer shall not resign from the obligations and duties imposed on it hereunder, under the 2020-1A SUBI Servicing Agreement or the Indenture except upon a determination that (i) the performance of its
duties hereunder, under the 2020-1A SUBI Servicing Agreement or the Indenture is no longer permissible under applicable law and (ii) there is no reasonable action which the Servicer could take to make the
performance of its duties hereunder, under the 2020-1A SUBI Servicing Agreement or the Indenture permissible under applicable law. Any determination permitting the resignation of the Servicer shall be
evidenced by an Opinion of Counsel to such effect delivered to the Owner Trustee, the Back-up Servicer and the Indenture Trustee. No resignation shall become effective until a Successor Servicer (which shall
be the Back-up Servicer unless the Back-up Servicer is the resigning Servicer) or the Indenture Trustee shall have assumed the responsibilities and obligations of the
Servicer in accordance with Section 8.02 hereof, the 2020-1A SUBI Servicing Agreement and the Indenture (other than in the case of the Back-up
Servicer, any such duty or obligation that it is not required to assume under the express terms of the Back-up Servicing Agreement, the 2020-1A SUBI Servicing Agreement,
this Agreement or the Indenture). If within one hundred twenty (120) days of the date of the determination that the Servicer may no longer act as Servicer as described above, the Indenture Trustee is unable to appoint a Successor Servicer, the
Indenture Trustee shall serve as Successor Servicer. Notwithstanding the foregoing, the Indenture Trustee shall, if it is legally unable or unwilling so to act, petition a court of competent jurisdiction to appoint any established institution
qualifying as an Eligible Servicer as the Successor Servicer hereunder. The Issuer shall give prompt notice to each Rating Agency upon the appointment of a Successor Servicer. 

(b) Notwithstanding Section 6.05(a), the Servicer may, without the requirement of obtaining the prior consent of any
Person, assign part or all of its duties and obligations hereunder, under the 2020-1A SUBI Servicing Agreement or the Indenture to an Affiliate of the Servicer so long as (i) such entity is an Eligible
Servicer as of the date of such assignment, and (ii) the Servicer reasonably determines that such assignment will not materially adversely affect the interests of any Class of Noteholders; provided, that any such assignment shall
not constitute a resignation pursuant to this Section 6.05 
 (c) So long as Regional Management remains the
Servicer, no Subservicer shall resign from the obligations and duties hereby imposed on it except with the consent of the Servicer. Notwithstanding the foregoing, a Successor Servicer may, without the requirement of obtaining the prior consent of
any Person, delegate any or all of its duties and obligations hereunder, under the 2020-1A SUBI Servicing Agreement and the Indenture to one or more subservicers; provided, that such Successor Servicer
shall remain obligated and solely liable to the Depositor, the Indenture Trustee, the North Carolina Trust, and the Issuer for its duties, obligations and liabilities under this Agreement, the 2020-1A SUBI
Servicing Agreement and the Indenture to the same extent and under the same terms and conditions as if such Successor Servicer were acting alone; provided, further, that any such delegation shall not constitute a resignation pursuant to this
Section 6.05. 
 Section 6.06 Access to Certain Documentation and Information Regarding the Loans. The
Servicer and each Subservicer (including in its capacity as custodian or subcustodian, as applicable) shall provide to the Issuer or the Indenture Trustee, as applicable, access to the documentation regarding the Loans in such cases where the Issuer
or the Indenture Trustee, as applicable, is required in connection with the enforcement of the rights of the Issuer, the North Carolina Trust or the Noteholders or by applicable statutes or regulations to review such documentation, such access being
afforded without charge but only (a) upon reasonable request, 

  

	
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(b) during normal business hours, (c) subject to the Servicer’s or Subservicer’s, as applicable, normal security and confidentiality procedures and (d) at reasonably
accessible offices in the continental United States designated by the Indenture Trustee, the Servicer or Subservicer, as applicable. Nothing in this Section shall derogate from the obligation of the Depositor, the Issuer, the North Carolina Trust,
the Subservicer and the Servicer to observe any applicable law or regulation prohibiting disclosure of information regarding the Loan Obligors and the failure of the Servicer or Subservicer to provide access as provided in this Section as a result
of such obligation shall not constitute a breach of this Section. 
 Section 6.07 Delegation of Duties. In the ordinary course
of business (and subject to the standard of care set forth in Section 3.01), the Servicer (including any Successor Servicer) may at any time delegate its duties hereunder with respect to the Loans to any Person or enter
subservicing arrangements with any Person (including the Subservicers) that agrees to conduct such duties in accordance with the Credit and Collection Policy and this Agreement. Such delegation shall not relieve the Servicer of its liability and
responsibility with respect to such duties, and shall not constitute a resignation pursuant to Section 6.05. 

Section 6.08 Examination of Records. The Depositor, each Subservicer (with respect to the Loans being subserviced by it) and the
Servicer shall indicate generally in their computer files or other records that the Loans have been conveyed to the Issuer pursuant to the terms of this Agreement and the 2020-1A SUBI Supplement. Each of
Depositor, each Subservicer and the Servicer shall, prior to the sale or transfer to a third party of any loan held in its custody, examine its computer records and other records to determine that such loan is not, and does not include, a Loan. Upon
such examination and conclusion that such loan is not, and does not include, a Loan, the Depositor, each Subservicer and the Servicer shall be free to sell, transfer or otherwise assign such loan. 

Section 6.09 Servicer Power of Attorney. The Issuer and the North Carolina Trust hereby authorize the Servicer acting alone or
through an Affiliate, including the Subservicers, to execute, deliver and perform any and all agreements, documents or certificates as the Issuer may be requested or required by the Issuer or the North Carolina Trust, as applicable, to undertake in
connection with enforcing its rights as the legal title holder to the Loans. In connection with the enforcement of any rights of the Issuer or the North Carolina Trust, as applicable, with respect to any Loan, the Issuer or the North Carolina Trust,
as applicable, shall furnish the Servicer or Subservicers, as applicable, with a power of attorney (substantially in the form of Exhibit G hereto) and any other documents reasonably necessary or appropriate to enable the Servicer to enforce
such rights on behalf of the Issuer. 
 ARTICLE VII 

INSOLVENCY EVENTS 

Section 7.01 Rights upon the Occurrence of an Insolvency Event. The Depositor shall, on the day that any Insolvency Event occurs
with respect to the Depositor, immediately cease to transfer Additional Loans to the Issuer and the Depositor shall promptly give notice to the Indenture Trustee and the Issuer thereof. Loans transferred to the Issuer prior to the occurrence of such
Insolvency Event and Collections in respect of such Loans transferred to the Issuer shall continue to be a part of the Sold Assets and shall be allocated and distributed to Noteholders in accordance with the terms of this Agreement and the
Indenture. 

  

	
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 ARTICLE VIII 

SERVICER DEFAULTS 

Section 8.01 Servicer Defaults. If any one of the following events (a “Servicer Default”) shall occur and be
continuing: 
 (a) any failure by the Servicer to make any required payment, transfer or deposit or to give instructions or notice to the
Indenture Trustee to make such payment, transfer or deposit on or before the date such payment, transfer or deposit or such instruction or notice is required to be made or given, as the case may be, under the terms of this Agreement, the Indenture,
the 2020-1A SUBI Supplement or the 2020-1A SUBI Servicing Agreement, in an aggregate amount exceeding $50,000, and which failure continues unremedied for a period of
five (5) Business Days after the earlier of (i) the date on which notice of such failure, requiring the same to be remedied, shall have been given by registered or certified mail to the Servicer by the Issuer or the Indenture Trustee, or
to the Servicer, the Issuer and the Indenture Trustee by the Required Noteholders and (ii) the actual knowledge of the Servicer thereof; 

(b) any failure on the part of the Servicer duly to observe or perform any other covenants or agreements of the Servicer set forth in this
Agreement, the Indenture, the 2020-1A SUBI Supplement or the 2020-1A SUBI Servicing Agreement or in any certificate delivered by the Servicer pursuant to this Agreement,
the 2020-1A SUBI Supplement, the 2020-1A SUBI Servicing Agreement or the Indenture, which failure has a material adverse effect on the interests of the Noteholders (as
determined by the Threshold Noteholders) and which continues unremedied for a period of forty-five (45) days after the earlier of (i) the date on which notice of such failure, requiring the same to be remedied, shall have been given by
registered or certified mail to the Servicer by the Issuer or the Indenture Trustee, or to the Servicer, the Issuer and the Indenture Trustee by the Threshold Noteholders and (ii) the actual knowledge of the Servicer thereof; 

(c) any representation, warranty or certification made by the Servicer in this Agreement, the Indenture, the
2020-1A SUBI Supplement or the 2020-1A SUBI Servicing Agreement or in any certificate delivered by the Servicer pursuant to this Agreement, the Indenture, the 2020-1A SUBI Supplement or the 2020-1A SUBI Servicing Agreement shall prove to have been incorrect when made or deemed made and such failure has a material adverse effect on
the Noteholders (as determined by the Threshold Noteholders) and which continues unremedied for a period of forty-five (45) days after the earlier of (i) the date on which a notice specifying such incorrect representation or warranty and
requiring the same to be remedied, shall have been given by registered or certified mail to the Servicer by the Issuer or the Indenture Trustee, or to the Servicer, the Issuer, and the Indenture Trustee by the Threshold Noteholders and (ii) the
actual knowledge of the Servicer thereof; or 
 (d) an Insolvency Event shall occur with respect to the Servicer; 

  

	
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 then, in the event of any Servicer Default, so long as a Servicer Default is continuing, the Indenture
Trustee may (and upon the written direction of the Required Noteholders shall), by notice then given to the Servicer, the Issuer, the North Carolina Trust and the Back-up Servicer (a “Termination
Notice”) (i) terminate all of the rights and obligations of the Servicer as Servicer under this Agreement, the 2020-1A SUBI Supplement, the 2020-1A SUBI
Servicing Agreement and the Indenture and (ii) direct the applicable party to terminate any power of attorney granted to the Servicer or any Subservicer and direct such party to execute a new power of attorney to the Indenture Trustee or its
designee. The existence of a Servicer Default may be waived with the consent of the Required Noteholders. 
 Notwithstanding the foregoing,
a delay in or failure of performance referred to under paragraph (a) above for an additional period of five (5) Business Days after the applicable grace period or referred to under paragraph (b) or (c) above for a period of forty-five
(45) days after the applicable grace period, shall not constitute a Servicer Default if such delay or failure could not be prevented by the exercise of reasonable diligence by the Servicer and such delay or failure was caused by a Force Majeure
Event. If, following the expiration of such incremental forty-five (45) day grace period in the case of a delay or failure of performance described in paragraph (b) or (c) above, the applicable delay or failure of performance remains
outstanding but the Servicer continues to work diligently to remedy such delay or failure of performance, then the grace period shall be extended for a further thirty (30) days upon notice from the Servicer to the Indenture Trustee. The
preceding sentences will not relieve the Servicer from using all commercially reasonable efforts to perform its obligations in a timely manner in accordance with the terms of this Agreement and the Servicer shall provide the Indenture Trustee, the
Issuer and the Depositor with an Officer’s Certificate giving prompt notice of such failure or delay, together with a description of its efforts so to perform its obligations. 

After receipt by the Servicer of a Termination Notice, and effective on the Servicing Transfer Date, all authority and power of the Servicer
under this Agreement shall pass to and be vested in the Successor Servicer (a “Servicing Transfer”) appointed by the Indenture Trustee (at the written direction of the Required Noteholders if the Successor Servicer is not the Back-up Servicer or the Indenture Trustee) pursuant to Section 8.02; and, without limitation, the Indenture Trustee is hereby authorized and empowered (upon the failure of the Servicer to
cooperate promptly) to execute and deliver, on behalf of the Servicer, as attorney-in-fact or otherwise, all documents and other instruments upon the failure of the
Servicer to execute or deliver such documents or instruments, and to do and accomplish all other acts or things necessary or appropriate to effect the purposes of such Servicing Transfer. The Servicer agrees to reasonably cooperate and to cause each
Subservicer to reasonably cooperate (and each Subservicer agrees to cooperate) with the Indenture Trustee and such Successor Servicer in (i) effecting the termination of the responsibilities and rights of the Servicer to conduct servicing
hereunder and (ii) transferring all duties and obligations of the Servicer hereunder to such Successor Servicer, including the transfer to such Successor Servicer of all authority of the Servicer to service and administer the Loans provided for
under this Agreement, including all authority over all Collections which shall on the date of transfer be held by the Servicer for deposit, or which have been deposited by the Servicer, in the Collection Account or other applicable Note Account, or
which shall thereafter be received with respect to the Loans, and in assisting the Successor Servicer. The Servicer shall transfer to the Successor Servicer all its electronic records relating to the Loans, together with all other records,
correspondence and documents necessary for the continued servicing and 

  

	
	SALE AND SERVICING AGREEMENT (RMIT 2020-1) - Page 29 -

 
administration of the Loans in the manner and at such times as the Successor Servicer shall reasonably request. Notwithstanding the foregoing, the Servicer shall be allowed to retain a copy of
all records, correspondence and documents provided to the Successor Servicer in compliance with the Servicer’s recordkeeping policies or Requirements of Law. The predecessor Servicer shall be responsible for all expenses incurred in
transferring the servicing duties to the Successor Servicer. To the extent that compliance with this Section shall require the Servicer to disclose to the Successor Servicer information of any kind which the Servicer deems to be confidential or give
the Successor Servicer access to software or other intellectual property, the Successor Servicer shall be required to enter into such customary licensing and confidentiality agreements as the Servicer shall deem reasonably necessary to protect its
interests. 
 Section 8.02 Indenture Trustee to Act; Appointment of Successor. (a) On and after the receipt by the Servicer
of a Termination Notice pursuant to Section 8.01, the Servicer shall continue to perform all servicing functions under this Agreement and the 2020-1A SUBI Servicing Agreement until
the earlier of (i) the date specified in the Termination Notice or otherwise specified by the Indenture Trustee and (ii) the Servicing Transfer Date. The Indenture Trustee shall as promptly as possible after the giving of a Termination
Notice appoint (at the written direction of the Required Noteholders in the case of a Successor Servicer that is not the Back-up Servicer or the Indenture Trustee) an Eligible Servicer (which shall be the Back-up Servicer unless the Back-up Servicer is then acting as the Servicer) as a successor Servicer (the “Successor Servicer”), and such Successor Servicer
shall accept its appointment by a written assumption in a form acceptable to the Indenture Trustee. In the event that a Successor Servicer has not been appointed or has not accepted its appointment at the time when the Servicer ceases to act as
Servicer, the Indenture Trustee without further action shall automatically be appointed the Successor Servicer. The Indenture Trustee may delegate any of its servicing obligations to an Affiliate or agent in accordance with
Section 3.01(b) and Section 6.07. Notwithstanding the foregoing, the Indenture Trustee shall, if it is legally unable or unwilling so to act, petition a court of competent jurisdiction to appoint
any established institution qualifying as an Eligible Servicer as the Successor Servicer hereunder and under the 2020-1A SUBI Servicing Agreement. The Indenture Trustee shall give prompt notice to each Rating
Agency upon the appointment of a Successor Servicer. 
 (b) Upon its appointment, the Successor Servicer shall be the successor in all
respects to the Servicer with respect to servicing functions under this Agreement and the 2020-1A SUBI Servicing Agreement, and shall be subject to all the responsibilities, duties and liabilities relating
thereto placed on the Servicer by the terms and provisions hereof (other than in the case of the Back-up Servicer, any such responsibility, duty or liability that it is not required to assume under the terms
of this Agreement, the Back-up Servicing Agreement or the 2020-1A SUBI Servicing Agreement), and all references in this Agreement to the Servicer (including 2020-1A SUBI Servicer) shall be deemed to refer to the Successor Servicer. 
 Within five
(5) Business Days after the Servicer becomes aware of any Servicer Default, the Servicer shall give notice thereof to the Issuer, the 2020-1A SUBI Trustee, the Indenture Trustee, the Back-up Servicer and each Rating Agency. Upon any termination or appointment of a Successor Servicer pursuant to this Article VIII, the Indenture Trustee shall give prompt notice thereof to the Noteholders.

  

	
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 Section 8.03 Rule 15Ga-1 Compliance.
(a) To the extent a Responsible Officer of the Successor Servicer receives a demand for the repurchase of a Loan based on a breach of a representation or warranty made by the Seller (or, with respect to the
2020-1A SUBI Loans, the Servicer) of such Loan (each, a “Demand”), the Successor Servicer agrees (i) if such Demand is in writing, promptly to forward such Demand to the Depositor, and
(ii) if such Demand is oral, to instruct the requesting party to submit such Demand in writing to the Indenture Trustee and the Depositor. 

(b) In connection with the repurchase of a Loan pursuant to a Demand, any dispute with respect to a Demand, or the withdrawal or final
rejection of a Demand, the Successor Servicer agrees, to the extent a Responsible Officer of the Successor Servicer has actual knowledge thereof, promptly to notify the Depositor in writing. 

(c) The Successor Servicer will (i) notify the Depositor, as soon as practicable and in any event within five (5) Business Days of
the receipt thereof and in the manner set forth in Exhibit F hereof, of all Demands and provide to the Depositor any other information reasonably requested to facilitate compliance by it with Rule
15Ga-1 under the Exchange Act, and (ii) if requested in writing by the Depositor, provide a written certification no later than fifteen (15) days following any calendar quarter or calendar year that
the Successor Servicer has not received any Demands for such period, or if Demands have been received during such period, that the Successor Servicer has provided all the information reasonably requested under clause (i) above with
respect to such demands. For purposes of this Agreement, references to any calendar quarter shall mean the related preceding calendar quarter ending in March, June, September, or December, as applicable. The Successor Servicer has no duty or
obligation to undertake any investigation or inquiry related to any repurchases of Loans, or otherwise assume any additional duties or responsibilities, other than those express duties or responsibilities the Successor Servicer has hereunder or
under the Transaction Documents, and no such additional obligations or duties are otherwise implied by the terms of this Agreement. The Depositor has full responsibility for compliance with all related reporting requirements associated with the
transaction completed by the Transaction Documents and for all interpretive issues regarding this information. 
 The Indenture Trustee
shall provide the Depositor and the Servicer (each, a “Regional Party” and, collectively, the “Regional Parties”) with (i) notification, as soon as practicable and in any event within five (5) Business
Days, of all demands communicated in writing to a Responsible Officer of the Indenture Trustee for the repurchase or replacement of any Loan pursuant to this Agreement or the Loan Purchase Agreement, as applicable and (ii) promptly upon receipt
by a Responsible Officer of written request by a Regional Party, any other information reasonably requested by such Regional Party to facilitate compliance by the Regional Parties with Rule 15Ga-1 under the
Exchange Act, and Items 1104(e) and 1121(c) of Regulation AB. In no event shall the Indenture Trustee be deemed to be a “securitizer” as defined in Section 15G(a) of the Exchange Act, nor shall it have any responsibility for making
any filing to be made by a securitizer under the Exchange Act or Regulation AB. 

  

	
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 ARTICLE IX 

TERMINATION 

Section 9.01 Termination of Agreement as to Servicing. Unless earlier terminated as contemplated herein, the appointment of the
Servicer and the Subservicers under this Agreement and the 2020-1A SUBI Servicing Agreement and the respective obligations and responsibilities of the Issuer, the Depositor, the North Carolina Trust, the
Servicer, the Subservicers and the Indenture Trustee to the Servicer and the Subservicers, as applicable, under this Agreement and the 2020-1A SUBI Servicing Agreement, and the rights and obligations of the
Servicer and the Subservicers under this Agreement and the 2020-1A SUBI Servicing Agreement except with respect to the obligations described in Section 10.07, shall terminate on the
date of termination of the Trust Agreement. Such termination shall be automatic, without any required action of the Depositor, the North Carolina Trust, the Indenture Trustee, the Issuer or any Noteholder. The obligations and responsibilities of the
Indenture Trustee under this Agreement shall terminate upon the termination of the Indenture in accordance with its terms, unless such obligations and responsibilities are terminated earlier as contemplated herein. 

ARTICLE X 

MISCELLANEOUS PROVISIONS 

Section 10.01 Amendment; Waiver of Past Defaults; Assignment. (a) This Agreement may be amended from time to time by the
Servicer, the Depositor, the North Carolina Trust, and the Issuer by a written instrument signed by each of them, but without consent of any of the Noteholders, (i) to correct or supplement any provisions herein which may be inconsistent with
any other provisions herein, (ii) to conform the terms of this Agreement to the description hereof in the PPM, or (iii) to add any other provisions with respect to matters or questions arising under or related to this Agreement which shall
not be inconsistent with the provisions of this Agreement; provided, however, that such action shall not adversely affect in any material respect the interest of any of the Noteholders as evidenced by an Officer’s Certificate of the Depositor
to such effect delivered to the Indenture Trustee and the Issuer and the Rating Agency Notice Requirement shall have been satisfied with respect to such amendment. Additionally, this Agreement may be amended from time to time (including in
connection with the issuance of a supplement certificate or to change the definition of Collection Period, Monthly Determination Date or Payment Date) by the Servicer, the North Carolina Trust, the Depositor and the Issuer by a written instrument
signed by each of them, but without the consent of any of the Noteholders; provided that (i) the Depositor shall have delivered to the Indenture Trustee and the Issuer an Officer’s Certificate, dated the date of any such amendment, stating
that the Depositor reasonably believes that such amendment will not have an Adverse Effect and (ii) the Rating Agency Notice Requirement shall have been satisfied with respect to any such amendment. Notwithstanding anything else to the contrary
herein, this Agreement may be amended by the Servicer, the North Carolina Trust, the Depositor and the Issuer by a written instrument signed by each of them, but without the consent of the Noteholders, upon satisfaction of the Rating Agency Notice
Requirement with respect to such amendment (without anything further) as may be necessary or advisable in order to avoid the imposition of any withholding taxes or state or local income or franchise taxes imposed on the Issuer’s property or its
income. 

  

	
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 (b) Without limiting Section 10.01(a), this Agreement may also be
amended from time to time by the Servicer, the North Carolina Trust, the Depositor and the Issuer with the consent of the Required Noteholders, for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of this Agreement or of modifying in any manner the rights of the Noteholders; provided, however, that no such amendment effected pursuant to this clause (b) shall (i) reduce in any manner the amount of or delay
the timing of any distributions (changes in Early Amortization Events that decrease the likelihood of the occurrence thereof shall not be considered delays in the timing of distributions for purposes of this clause) to be made to Noteholders or
deposits of amounts to be so distributed without the consent of each affected Noteholder, (ii) change the definition of or the manner of calculating the interest of any Noteholder without the consent of each affected Noteholder or
(iii) reduce the aforesaid percentage required to consent to any such amendment, in each case, without the consent of each Noteholder. 

(c) Promptly after the execution of any such amendment or consent (other than an amendment pursuant to paragraph (a)), the Issuer shall
furnish notification of the substance of such amendment to the Indenture Trustee and each Noteholder, and the Servicer shall furnish notification of the substance of such amendment to each Rating Agency and the Issuer. 

(d) It shall not be necessary for the consent of Noteholders (if required) under this Section 10.01 to approve the
particular form of any proposed amendment, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining such consents and of evidencing the authorization of the execution thereof by Noteholders shall be
subject to such reasonable requirements as the Indenture Trustee may prescribe. 
 (e) The Required Noteholders may, on behalf of all
Noteholders, waive any default by the Depositor, the Issuer or the Servicer in the performance of their obligations hereunder and its consequences, except the failure to make any distributions required to be made to Noteholders or to make any
required deposits of any amounts to be so distributed (which such default may only be waived by 100% of the affected Noteholders). Upon any such waiver of a past default, such default shall cease to exist, and any default arising therefrom shall be
deemed to have been remedied for every purpose of this Agreement; provided that no such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. 

(f) Any amendment hereunder which affects the rights, duties, immunities or liabilities of the Owner Trustee or the Indenture Trustee shall
require the Owner Trustee’s or the Indenture Trustee’s, as applicable, written consent. Each of the Owner Trustee and the Indenture Trustee may, but shall not be obligated to, enter into any such amendment which affects the Owner
Trustee’s or the Indenture Trustee’s rights, duties, benefits, protections, privileges or immunities under this Agreement or otherwise. In connection with the execution of any amendment hereunder on behalf of the Issuer, each of the Owner
Trustee and the Indenture Trustee shall be entitled to receive an Opinion of Counsel and an Officer’s Certificate to the effect that all conditions precedent thereto have been satisfied and that such amendment is permitted under the terms of
this Agreement. All reasonable fees, costs and expenses (including reasonable attorneys’ fees, costs and expenses) incurred in connection with any such amendment will be payable by the Issuer in accordance with and subject to Section 8.06
of the Indenture. 

  

	
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 (g) Notwithstanding anything in this Section 10.01 to the
contrary, no amendment may be made to this Agreement which would adversely affect in any material respect the rights or obligations of any Subservicer without the consent of such Subservicer. 

(h) Notwithstanding anything in this Section 10.01 to the contrary, no amendment may be made to this Agreement which
would adversely affect in any material respect the rights or obligations of the Indenture Trustee without the consent of the Indenture Trustee. 

(i) Except as contemplated in Sections 5.02, 6.02 and 6.05, no party may assign any interest in this Agreement, except
that (i) the Issuer may assign their interest in this Agreement to the Indenture Trustee under the Indenture and (ii) any party may assign its interest in this Agreement to any other Person if (A) at least ten days prior to the
assignment notice is given to each other party hereto, and (B) each other party gives its prior written consent to the assignment. 

Section 10.02 Protection of Right, Title and Interest of Issuer. (a) The Depositor shall cause this Agreement, all amendments
and supplements hereto and all financing statements and amendments thereto and continuation statements and any other necessary documents covering the Issuer’s right, title and interest to the Sold Assets (and the Issuer hereby authorize the
Depositor to make such filings on its behalf to the extent that the applicable UCC provides that the Issuer is the person authorized to make such filings) to be promptly recorded, registered and filed, and at all times to be kept recorded,
registered and filed, all in such manner and in such places as may be required by law fully to preserve and protect the right, title and interest of the Issuer hereunder to the Sold Assets. The Depositor shall deliver to the Issuer and Indenture
Trustee file-stamped copies of, or filing receipts for, any document recorded, registered or filed as provided above, as soon as available following such recording, registration or filing. The Depositor shall cooperate fully with the Servicer in
connection with the obligations set forth above and will execute any and all documents reasonably required to fulfill the intent of this paragraph. 

(b) The Servicer shall cause the 2020-1A Security Agreement, all amendments and supplements hereto and
all financing statements and amendments thereto and continuation statements and any other necessary documents covering the Related Collateral (and the Issuer and the North Carolina Trust hereby authorize the Servicer to make such filings on its
behalf to the extent that the applicable UCC provides that the Issuer and the North Carolina Trust are the persons authorized to make such filings) to be promptly recorded, registered and filed, and at all times to be kept recorded, registered and
filed, all in such manner and in such places as may be required by law fully to preserve and protect the right, title and interest of the Indenture Trustee in the Related Collateral. The initial Servicer shall deliver to the Issuer and Indenture
Trustee file-stamped copies of, or filing receipts for, any document recorded, registered or filed as provided above, as soon as available following such recording, registration or filing. The Servicer shall cooperate fully with the Issuer, the
North Carolina Trust and the Indenture Trustee in connection with the obligations set forth above and will execute any and all documents reasonably required to fulfill the intent of this paragraph. 

(c) Within thirty (30) days after the Depositor makes any change in its name, type or jurisdiction of organization, or organizational
identification number, the Depositor shall give the Issuer and the Indenture Trustee notice of any such change and shall file such financing statements or amendments as may be necessary to continue the perfection and priority of the Issuer’s
security interest or ownership interest in the Loans and the other Sold Assets. 

  

	
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 Section 10.03 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
AND INTERPRETED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO ITS CONFLICT OF LAWS PROVISIONS (OTHER THAN SECTIONS 5-1401 AND 5-1402
OF THE GENERAL OBLIGATIONS LAW) AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

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

Section 10.04 Notices. All demands, notices, instructions, directions and communications under this Agreement must be in writing
and will be considered effective when delivered by hand, electronic communication (including e-mail) by courier, by overnight delivery service, or by certified mail, return receipt requested and postage
prepaid. 
  

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

979 Batesville Road, Suite B 

Greer, South Carolina 29651 

Attention: Michael S. Dymski, Vice President, interim Chief Financial Officer and Chief Accounting Officer 

Email: mdymski@regionalmanagement.com 

  

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

979 Batesville Road, Suite B 

Greer, South Carolina 29651 

Attention: Michael S. Dymski, Vice President, interim Chief Financial Officer and Chief Accounting Officer 

Email: mdymski@regionalmanagement.com 
  

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

979 Batesville Road, Suite B 

Greer, South Carolina 29651 

Attention: Michael S. Dymski, Vice President, interim Chief Financial Officer and Chief Accounting Officer 

Email: mdymski@regionalmanagement.com 
  

	 	(d)	 in the case of the Owner Trustee, to: 

Wilmington Trust, National Association 

Rodney Square North 
 1100 North
Market Street 
 Wilmington, Delaware 19890 

Attention: Corporate Trust Administration – Regional Management 

Issuance Trust 2020-1 
  

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

Wells Fargo Bank, National Association 

Attention: Corporate Trust Services/Structured Products Services 

600 S 4th St. 
 MAC N9300-061 
 Minneapolis, MN 55415 

Telephone: (612) 667-7181 
  

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

Wells Fargo Bank, National Association 

Attention: Corporate Trust Services/Structured Products Services 

600 S 4th St. 
 MAC N9300-061 
 Minneapolis, MN 55415 

Telephone: (612) 667-7181 

  

	
	SALE AND SERVICING AGREEMENT (RMIT 2020-1) - Page 36 -

	 	(g)	 in the case of notice to DBRS Morningstar, at the following addresses: 

DBRS, Inc. 
 140 Broadway 

New York, NY 10005 
 Attention:
ABS Surveillance 
 Email address: ABS_Surveillance@dbrs.com 

 

	 	(h)	 in the case of notice to S&P, to: 

S&P Global Ratings 

55 Water Street 

New York, NY 10041-0003 
  

	 	(i)	 in the case of notice to the North Carolina Trust, to: 

979 Batesville Road, Suite B 

Greer, South Carolina 29651 

Attention: Michael S. Dymski, Vice President, interim Chief Financial Officer and Chief Accounting Officer 

Email: mdymski@regionalmanagement.com 
  

	 	(j)	 to any other Person as specified in the Indenture. 

Any of these entities may designate a different address in a notice to the others under this Section 10.05. 

Unless a party hereto otherwise prescribes with respect to itself, notices and other communications sent to an
e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), provided that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been
sent at the opening of business on the next Business Day for the recipient. 
 Section 10.05 Severability. If any part of this
Agreement is held to be invalid or otherwise unenforceable, the rest of this Agreement will be considered severable and will continue in full force. 

Section 10.06 Further Assurances. Each party must take all actions that are reasonably requested by any other party to effect more
fully the purposes of this Agreement. The parties hereto agree to (a) provide access to the Contracts and related documentation in their possession for inspection by governmental regulatory agencies and (b) assist in the preparation of any
routine reports required by regulatory bodies, if any. 

  

	
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 Section 10.07 Nonpetition Covenant. (a) To the fullest extent permitted by
law and notwithstanding any prior termination of this Agreement, each of the Servicer, the Subservicers, the North Carolina Trust and the Issuer agree that it shall not file, commence, join, or acquiesce in a petition or proceeding, or cause the
Depositor to file, commence, join, or acquiesce in a petition or proceeding, that causes (a) the Depositor to be a debtor under any Debtor Relief Law or (b) a trustee, conservator, receiver, liquidator, or similar official to be appointed
for the Depositor or any substantial part of its property.  
 (b) To the fullest extent
permitted by law and notwithstanding any prior termination of this Agreement, each of the Servicer, the Subservicers, the Depositor and the North Carolina Trust agree that it shall not file, commence, join, or acquiesce in a petition or proceeding,
or cause the Issuer to file, commence, join, or acquiesce in a petition or proceeding, that causes (a) the Issuer to be a debtor under any Debtor Relief Law or (b) a trustee, conservator, receiver, liquidator, or similar official to be
appointed for the Issuer or any substantial part of its property. 
 (c) To the fullest extent permitted by law and notwithstanding any prior
termination of this Agreement, each of the Servicer, the Subservicers, the Depositor and the Issuer agree that it shall not file, commence, join, or acquiesce in a petition or proceeding, or cause the North Carolina Trust to file, commence, join, or
acquiesce in a petition or proceeding, that causes (a) the North Carolina Trust to be a debtor under any Debtor Relief Law or (b) a trustee, conservator, receiver, liquidator, or similar official to be appointed for the North Carolina
Trust or any substantial part of its property. 
 (d) The parties hereto agree that the provisions of this
Section 10.07 shall survive the resignation or removal of any such party from this Agreement and the termination of this Agreement. 

Section 10.08 No Waiver; Cumulative Remedies. No failure to exercise or delay in exercising any right or remedy under this
Agreement will effect a waiver of that right or remedy. No single or partial exercise of any right or remedy under this Agreement will preclude any other or further exercise of that right or remedy or any other right or remedy. Except as otherwise
expressly provided, the rights, remedies, powers and privileges provided under this Agreement are cumulative and not exhaustive. 

Section 10.09 Counterparts; Execution. This Agreement may be executed in any number of counterparts, each of which will be
considered an original, but all of which together will constitute one agreement. This Agreement shall be valid, binding, and enforceable against a party only when executed by an authorized individual on behalf of the party by means of (i) an
electronic signature that complies with the federal Electronic Signatures in Global and National Commerce Act, state enactments of the Uniform Electronic Transactions Act, and/or any other relevant electronic signatures law including any relevant
provisions of the UCC (collectively, “Signature Law”), in each case to the extent applicable; (ii) an original manual signature; or (iii) a faxed, scanned, or photocopied manual signature. Each electronic signature or
faxed, scanned, or photocopied manual signature shall for all purposes have the same validity, legal effect, and admissibility in evidence as an original manual signature. Each party hereto shall be entitled to conclusively rely upon, and shall have
no liability with respect to, any electronic signature or faxed, scanned, or photocopied manual signature of any other party and shall have no duty to investigate, confirm or otherwise verify the validity or authenticity thereof. Notwithstanding the
foregoing, with respect to any notice provided for in this Agreement or any instrument required or permitted to be delivered hereunder, any party hereto receiving or relying upon such notice or instrument shall be entitled to request execution
thereof by original manual signature as a condition to the effectiveness thereof. 

  

	
	SALE AND SERVICING AGREEMENT (RMIT 2020-1) - Page 38 -

 Section 10.10 Binding Effect; Third-Party Beneficiaries. This Agreement benefits
and is binding on the parties hereto, and their respective successor and permitted assigns. Each of the Back-up Servicer, the Indenture Trustee and the Owner Trustee are third-party beneficiaries to this
Agreement and is entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it were a party hereto. 

Section 10.11 Merger and Integration. Except as specifically stated otherwise herein, this Agreement contains all of the terms and
conditions relating to its subject matter to which the parties have agreed. All prior understandings of any kind are superseded by this Agreement. 

Section 10.12 Headings. The headings are for reference only and must not affect the interpretation of this Agreement. 

Section 10.13 Schedules and Exhibits. All schedules and exhibits are fully incorporated into this Agreement. 

Section 10.14 Survival of Representations and Warranties. All representations, warranties, and covenants in this Agreement will
survive the conveyance of the Purchased Assets to the Issuer and the grant of a security interest in the Purchased Assets to the Indenture Trustee under the Indenture. 

Section 10.15 Limited Recourse. (a) Notwithstanding anything to the contrary contained herein, no recourse under or with
respect to any obligation, covenant or agreement of the Depositor as contained in this Agreement or any of the other Transaction Documents or any other agreement, instrument or document to which the Depositor is a party shall be had against any
incorporator, stockholder, affiliate, officer, employee or director of the Depositor by the enforcement of any assessment or by any legal or equitable proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that
the agreements of the Depositor contained in this Agreement and all other agreements, instruments and documents entered into pursuant hereto or in connection herewith are, in each case, solely corporate obligations of the Depositor. Notwithstanding
any provisions contained in this Agreement to the contrary, the Depositor shall not, and shall not be obligated to, pay any fees, costs, indemnified amounts or expenses due pursuant to this Agreement until payment in full of all amounts that the
Depositor is obligated to pay for deposit into the Collection Account and the Principal Distribution Account pursuant to this Agreement; and all amounts that the Depositor is obligated, in its capacity as depositor with respect to any Permitted
Securitization, to pay for deposit into any collection account and any principal distribution account with respect to such Permitted Securitization pursuant to the sale and servicing agreement for such Permitted Securitization; provided, however,
that the Noteholders shall be entitled to the benefits of the subordination of the Collections allocable to the Trust Certificate to the extent provided in the Indenture. Any amount which the Depositor does not pay pursuant to the operation of the
preceding sentence shall not constitute a claim (as defined in §101 of the United States Bankruptcy Reform Act of 1978 (11 U.S.C. §101, et seq.), as amended from time to time) against or obligation of the Depositor for any such
insufficiency unless and until funds are available for the payment of such amounts as aforesaid. 

  

	
	SALE AND SERVICING AGREEMENT (RMIT 2020-1) - Page 39 -

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

(d) The parties hereto agree that the provisions of this Section 10.15 shall survive the resignation or removal of
any such party to this Agreement and the termination of this Agreement. 

  

	
	SALE AND SERVICING AGREEMENT (RMIT 2020-1) - Page 40 -

 Section 10.16 Rights of the Indenture Trustee. The Indenture Trustee shall be
entitled to all of the same rights, protections, immunities and indemnities set forth in the Indenture, mutatis mutandis. 

Section 10.17 Series Liabilities. (a) The 2020-1A SUBI is a separate series of the
North Carolina Trust as provided in Section 3806(b)(2) of the Delaware Statutory Trust Statute, (b)(i) claims incurred, contracted for or otherwise existing with respect to the 2020-1A SUBI or the 2020-1A SUBI Assets, including claims hereunder, shall be enforceable against the 2020-1A SUBI Assets only, and not against any UTI Assets or any SUBI assets other than the 2020-1A SUBI Assets (such other assets, “Other SUBI Assets”) and (ii) claims incurred, contracted for or otherwise existing with respect to any other SUBI, the UTI or any other North Carolina
Trust Assets shall be enforceable against the North Carolina Trust Assets with respect to such other SUBI or the UTI or such other North Carolina Trust Assets only and not against 2020-1A SUBI
Assets, (c) except to the extent required by law or specified in the North Carolina Trust Agreement, (i) North Carolina Trust Assets with respect to any other SUBI or with respect to the UTI shall not be subject to claims arising from
or with respect to the 2020-1A SUBI, (ii) no creditor or holder of a claim relating to the 2020-1A SUBI Assets shall be entitled to maintain any action against or
recover any UTI Assets or any Other SUBI Assets, and (iii) no creditor or holder of a claim relating to any other SUBI, the UTI or any other North Carolina Trust Assets shall be entitled to maintain any action against or recover any 2020-1A SUBI Assets, and (d) any purchaser, assignee or pledgee of an interest in the 2020-1A SUBI, the 2020-1A SUBI Certificate,
any other SUBI, any other SUBI certificate, the UTI or the UTI Certificate must, prior to or contemporaneously with the grant of any such assignment, pledge or security interest, (i) give to the North Carolina Trust a non-petition covenant substantially similar to that set forth in Section 6.9 of the North Carolina Trust Agreement, and (ii) execute an agreement for the benefit of each holder, assignee or pledgee from
time to time of the UTI or the UTI Certificate and any other SUBI or other SUBI certificate to release all claims to the UTI Assets and any Other SUBI Assets and in the event that such release is not given effect, to fully subordinate all claims it
may be deemed to have against the UTI Assets and any Other SUBI Assets. 
 Section 10.18 Intention of the Parties. It is the
intention of the parties hereto that each transfer and conveyance contemplated by this Agreement shall constitute an absolute sale of the related Sold Assets from the Depositor to the Issuer and that the related Sold Assets shall not be part of the
Depositor’s estate or otherwise be considered property of the Depositor in the event of the bankruptcy, receivership, insolvency, liquidation, conservatorship or similar proceeding relating to the Depositor or any of each of its property. The
intent expressed in the first sentence of this paragraph should not be deemed to be an expression of the intended tax treatment of the conveyance of the Sold Assets. It is not intended that any amounts available for reimbursement of any Sold Assets
be deemed to have been pledged by the Depositor to the Issuer to secure a debt or other obligation of the Depositor. 
 Section 10.19
Additional Subservicers. The Depositor agrees that, subject to the satisfaction of the conditions set forth below, any Affiliate of Regional Management may be added as a party to this Agreement (an “Accession”) as a
“Subservicer” (each such Person, an “Additional Subservicer”), upon the Depositor’s receipt of a written request from Regional Management requesting that such Additional Subservicer be added to this Agreement
as a Subservicer at least five (5) days prior to the first acquisition of Eligible Loans to be serviced by such Additional Subservicer: 

  

	
	SALE AND SERVICING AGREEMENT (RMIT 2020-1) - Page 41 -

 (a) the Depositor shall have delivered to the Indenture Trustee a fully executed copy of an
Accession Agreement substantially in the form of Exhibit D hereto with respect to such Additional Subservicer; 
 (b) notice of any
Accession and the related Additional Subservicer shall have been provided to each Rating Agency; 
 (c) there shall have been delivered to
the Indenture Trustee (on behalf of the Noteholders) an Officer’s Certificate of Regional Management stating that such Accession is not reasonably expected to result in an Adverse Effect; and 

(d) as of the effective date of such Accession, the conditions precedent applicable to such Additional Subservicer as set forth in Exhibit
E shall have been fulfilled. 
 Upon the effectiveness of any Accession, this Agreement shall be deemed amended to include the proposed
Additional Subservicer as a “Subservicer” hereunder. For the avoidance of doubt, any Person to which the Servicer (including any Successor Servicer) has delegated its duties hereunder in accordance with
Section 6.07 shall not be subject to an Accession or be required to become a party to this Agreement. 

Section 10.20 Limitation of Liability of WTNA.  

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

 (b) It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by WTNA, not
individually or personally but solely as 2020-1A SUBI Trustee of the North Carolina Trust, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations,
undertakings and agreements herein made on the part of the North Carolina Trust is made and intended not as personal representations, undertakings and agreements by WTNA but is made and intended for the purpose of binding only the North Carolina
Trust, (c) nothing herein contained shall be construed as creating any liability on WTNA, 

  

	
	SALE AND SERVICING AGREEMENT (RMIT 2020-1) - Page 42 -

 
individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person
claiming by, through or under the parties hereto, (d) WTNA has made no investigation as to the accuracy or completeness of any representations and warranties made by the North Carolina Trust in this Agreement and (e) under no circumstances
shall WTNA be personally liable for the payment of any indebtedness or expenses of the North Carolina Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the North Carolina Trust
under this Agreement or any other related documents. 
 Section 10.21 EU Risk Retention. None of Regional Management, the
Issuer, the Initial Purchasers or their respective Affiliates or any other person intends to retain a material net economic interest in the transaction in accordance with the EU Securitization Regulation or take any other action that may be required
by EU Institutional Investors for the purpose of their compliance with the EU Securitization Regulation. 
 [Signature Page Follows] 

 

  

	
	SALE AND SERVICING AGREEMENT (RMIT 2020-1) - Page 43 -

 IN WITNESS WHEREOF, the Depositor, the Servicer, the Subservicers, the Issuer and the North
Carolina Trust have caused this Sale and Servicing Agreement to be duly executed by their respective officers as of the date first above written. 
  

			
	REGIONAL MANAGEMENT RECEIVABLES III, LLC, as Depositor
		
	By:	 	 /s/ Michael Dymski

	Name:	 	Michael S. Dymski
	Title: Vice President, interim Chief Financial Officer and Chief Accounting Officer
	
	REGIONAL MANAGEMENT CORP., as Servicer
		
	By:	 	 /s/ Michael Dymski

	Name:	 	Michael S. Dymski
	Title: Vice President, interim Chief Financial Officer and Chief Accounting Officer
	
	REGIONAL FINANCE CORPORATION OF ALABAMA, as Subservicer
		
	By:	 	 /s/ Michael Dymski

	Name:	 	Michael S. Dymski
	Title: Vice President, interim Chief Financial Officer and Chief Accounting Officer
	
	REGIONAL FINANCE COMPANY OF GEORGIA, LLC, as Subservicer
		
	By:	 	 /s/ Michael Dymski

	Name:	 	Michael S. Dymski
	Title: Vice President, interim Chief Financial Officer and Chief Accounting Officer

  
 [Signature page to the
Sale and Servicing Agreement] 

 
			
	REGIONAL FINANCE COMPANY OF MISSOURI, LLC, as Subservicer
		
	By:	 	 /s/ Michael Dymski

	Name:	 	Michael S. Dymski
	Title: Vice President, interim Chief Financial Officer and Chief Accounting Officer
	
	REGIONAL FINANCE COMPANY OF NEW MEXICO, LLC, as Subservicer
		
	By:	 	 /s/ Michael Dymski

	Name:	 	Michael S. Dymski
	Title: Vice President, interim Chief Financial Officer and Chief Accounting Officer
	
	REGIONAL FINANCE CORPORATION OF NORTH CAROLINA, as Subservicer
		
	By:	 	 /s/ Michael Dymski

	Name:	 	Michael S. Dymski
	Title: Vice President, interim Chief Financial Officer and Chief Accounting Officer
	
	REGIONAL FINANCE COMPANY OF OKLAHOMA, LLC, as Subservicer
		
	By:	 	 /s/ Michael Dymski

	Name:	 	Michael S. Dymski
	Title: Vice President, interim Chief Financial Officer and Chief Accounting Officer

  
 [Signature page to the
Sale and Servicing Agreement] 

 
			
	REGIONAL FINANCE CORPORATION OF SOUTH CAROLINA, as Subservicer
		
	By:	 	 /s/ Michael Dymski

	Name:	 	Michael S. Dymski
	Title: Vice President, interim Chief Financial Officer and Chief Accounting Officer
	
	REGIONAL FINANCE CORPORATION OF TENNESSEE, as Subservicer
		
	By:	 	 /s/ Michael Dymski

	Name:	 	Michael S. Dymski
	Title: Vice President, interim Chief Financial Officer and Chief Accounting Officer
	
	REGIONAL FINANCE CORPORATION OF TEXAS, as Subservicer
		
	By:	 	 /s/ Michael Dymski

	Name:	 	Michael S. Dymski
	Title: Vice President, interim Chief Financial Officer and Chief Accounting Officer
	
	REGIONAL FINANCE COMPANY OF VIRGINIA, LLC, as Subservicer
		
	By:	 	 /s/ Michael Dymski

	Name:	 	Michael S. Dymski
	Title: Vice President, interim Chief Financial Officer and Chief Accounting Officer

  
 [Signature page to the
Sale and Servicing Agreement] 

 
			
	REGIONAL FINANCE CORPORATION OF WISCONSIN, as Subservicer
		
	By:	 	 /s/ Michael Dymski

	Name:	 	Michael S. Dymski
	Title: Vice President, interim Chief Financial Officer and Chief Accounting Officer

  
 [Signature page to the
Sale and Servicing Agreement] 

 
			
	REGIONAL MANAGEMENT ISSUANCE TRUST 2020-1, as Issuer
		
	By:	 	WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Owner Trustee of the Issuer
		
	By:	 	 /s/ Rachel Simpson

	Name: Rachel Simpson
	Title: Vice President

  
 [Signature page to the
Sale and Servicing Agreement] 

 
			
	REGIONAL MANAGEMENT NORTH CAROLINA RECEIVABLES TRUST, acting hereunder solely with respect to the 2020-1A SUBI
		
	By:	 	WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity, but solely as 2020-1A SUBI Trustee of the North Carolina Trust
		
	By:	 	 /s/ Rachel Simpson

	Name: Rachel Simpson
	Title: Vice President

  
 [Signature page to the
Sale and Servicing Agreement] 

 ACKNOWLEDGED AND AGREED TO AS TO SECTIONS 6.05, 8.01 AND 8.02 BY: 

 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Indenture Trustee
		
	By:	 	 /s/ Marianna Stershic

	Name: Marianna Stershic
	Title: Vice President

  
 [Signature page to the
Sale and Servicing Agreement] 

 Schedule I 

List of Subservicers 
 Regional Finance
Corporation of Alabama 
 Regional Finance Company of Georgia, LLC 

Regional Finance Company of Missouri, LLC 
 Regional Finance
Company of New Mexico, LLC 
 Regional Finance Corporation of North Carolina 

Regional Finance Company of Oklahoma, LLC 
 Regional Finance
Corporation of South Carolina 
 Regional Finance Corporation of Tennessee 

Regional Finance Corporation of Texas 
 Regional Finance Company
of Virginia, LLC 
 Regional Finance Corporation of Wisconsin 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule I 

 Schedule II 

Definitions Schedule and Rules of Construction 
  

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II 

 PART A – Definitions Schedule 

“ABL Facility” shall mean the Seventh Amended and Restated Loan and Security Agreement, dated as of September 20, 2019,
among the lenders from time to time party thereto, Wells Fargo Bank, National Association, as agent, Regional Management and the other borrowers from time to time party thereto. 

“Accession” shall have the meaning specified in Section 10.19 of this Agreement. 

“Accession Agreement” shall mean an accession agreement substantially in the form of Exhibit D of the Sale and Servicing
Agreement. 
 “Account Bank” shall have the meaning specified in Section 8.02(f) of the Indenture. 

“Act” or “Act of Noteholder” shall have the meaning specified in Section 11.03(a) of the Indenture.

 “Addition Date” shall mean, with respect to any Additional Loan, the effective date of the conveyance or allocation of
such Additional Loan, as specified in the applicable Additional Loan Assignment, which date shall be a Loan Action Date. 

“Additional Cut-Off Date” shall mean (a) with respect to the Loan Purchase
Agreement and each Additional Loan, the Cut-Off Date specified in the related Additional Loan Assignment, (b) with respect to the Sale and Servicing Agreement and each Additional Loan, the Cut-Off Date specified in the related Additional Loan Assignment, (c) with respect to the 2020-1A SUBI Supplement and each Additional Loan, the Cut-Off Date specified in the related Additional Loan Assignment, (d) with respect to the Purchase Agreement and each Additional Loan transferred pursuant thereto, the
Cut-Off Date specified in the related Additional Loan Assignment, (e) with respect to the Omnibus Distribution and Assignment Agreement and each Additional Loan transferred pursuant thereto, the Cut-Off Date specified in the related Additional Loan Assignment, and (f) with respect to any Other Warehouse Purchase Agreement and each Additional Loan transferred pursuant thereto, the Cut-Off Date specified in the related Additional Loan Assignment (for the avoidance of doubt, with respect to an Additional Loan, the Cut-Off Date for such Additional Loan
pursuant to (a), (b), (c), (d), (e) or (f), as applicable, shall be the same date). 
 “Additional Loan” shall mean
(a) with respect to the Loan Purchase Agreement, each additional non-revolving personal loan that is sold to the Depositor pursuant to the Loan Purchase Agreement on an Addition Date, which, for the
avoidance of doubt, may include Loans acquired by the Seller from Regional Originators, (b) with respect to the Sale and Servicing Agreement, each additional non-revolving personal loan that is acquired
by the Issuer pursuant to the Sale and Servicing Agreement on an Addition Date, (c) with respect to the 2020-1A SUBI Supplement, each additional non-revolving
personal loan that is allocated to the 2020-1A SUBI by the Servicer pursuant to the 2020-1A SUBI Supplement on an Addition Date, (d) with respect to the Purchase
Agreement, each additional non-revolving personal loan that is sold to the Seller 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 1 

 
pursuant to the Purchase Agreement on each Addition Date, (e) with respect to the Omnibus Distribution and Assignment Agreement, each additional
non-revolving personal loan that is transferred to the Seller pursuant to the Omnibus Distribution and Assignment Agreement on each Addition Date, and (f) with respect to any Other Warehouse Purchase
Agreement, each additional non-revolving personal loan that is sold to the Seller pursuant to such Other Warehouse Purchase Agreement on each Addition Date. 

“Additional Loan Assignment” shall mean (a) with respect to the Loan Purchase Agreement, a written assignment
substantially in the applicable form attached to the Loan Purchase Agreement pursuant to which the Seller designates and assigns Additional Loans to the Depositor, (b) with respect to the Sale and Servicing Agreement, a written assignment
substantially in the applicable form attached to the Sale and Servicing Agreement pursuant to which the Depositor designates and further assigns Additional Loans to the Issuer, (c) with respect to the
2020-1A SUBI Supplement, a written allocation notice substantially in the applicable form attached to the 2020-1A SUBI Supplement pursuant to which the Servicer in
accordance with the 2020-1A SUBI Supplement designates and further allocates Additional Loans that are North Carolina Loans to the 2020-1A SUBI, (d) with respect to
the Purchase Agreement, a written assignment substantially in the applicable form attached to the Purchase Agreement pursuant to which the Warehouse Borrower designates and assigns Additional Loans to the Seller, (e) with respect to the Omnibus
Distribution and Assignment Agreement, a written assignment substantially in the applicable form attached to the Omnibus Distribution and Assignment Agreement pursuant to which one or more Regional Originators designate and assign Additional Loans
to the Seller, and (f) with respect to any Other Warehouse Purchase Agreement, a written assignment substantially in the applicable form attached to such Other Warehouse Purchase Agreement pursuant to which the applicable warehouse borrowers
designate and assign Additional Loans to the Seller. 
 “Additional Loan Assignment Schedule” shall mean (a) with
respect to the Purchase Agreement and any Loan Action Date, the schedule to the related Additional Loan Assignment, listing the Additional Loans conveyed pursuant to the Purchase Agreement on such Loan Action Date and the related information with
respect thereto required to be included in the Loan Schedule, (b) with respect to a purchase agreement between the borrower under a warehouse facility other than the Warehouse Facility and the Seller and any Loan Action Date, the schedule to
the related Additional Loan Assignment, listing the Additional Loans conveyed pursuant to such purchase agreement on such Loan Action Date and the related information with respect thereto required to be included in the Loan Schedule, (c) with
respect to the Loan Purchase Agreement and any Loan Action Date, the schedule to the related Additional Loan Assignment, listing the Additional Loans conveyed pursuant to the Loan Purchase Agreement on such Loan Action Date and the related
information with respect thereto required to be included in the Loan Schedule, (d) with respect to the Sale and Servicing Agreement and any Loan Action Date, the schedule to the related Additional Loan Assignment, listing the related Additional
Loans conveyed pursuant to the Sale and Servicing Agreement on such Loan Action Date and the related information with respect thereto required to be included in the Loan Schedule and (e) with respect to the
2020-1A SUBI Supplement on any Loan Action Date, the schedule to the related Additional Loan Assignment, listing the related Additional Loans allocated pursuant to the
2020-1A SUBI Supplement on such Loan Action Date and the related information with respect thereto required to be included in the Loan Schedule. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 2 

 “Additional Subservicer” shall have the meaning specified in
Section 10.19 of this Agreement. 
 “Adjusted Loan Principal Balance” shall mean, with respect to any Collection
Period, an amount equal to the Loan Principal Balance of all Loans in the Trust Estate, other than Charged-Off Loans and Excluded Loans, in each case, as of the close of business on the last day of such
Collection Period. 
 “Administration Agreement” shall mean the Administration Agreement, dated as of the Closing Date,
among the Issuer, the North Carolina Trust, the Administrator and the Depositor. 
 “Administrator” shall mean the Person
acting in such capacity from time to time pursuant to and in accordance with the Administration Agreement, which shall initially be Regional Management. 

“Adverse Effect” shall mean, with respect to any action, that such action will (a) result in the occurrence of an Early
Amortization Event or an Event of Default or (b) materially and adversely affect the Noteholders. 
 “Affiliate” of
any specified Person shall mean any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control,” when used with
respect to any specified Person, shall mean the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling”
and “controlled” have meanings correlative to the foregoing. 
 “Aggregate Note Balance” shall mean, as of any
date of determination, the sum of the aggregate Class A Note Balance, the aggregate Class B Note Balance, the aggregate Class C Note Balance and the aggregate Class D Note Balance, in each case, as of such date of determination.

 “Amount Financed” shall mean, with respect to a Loan, the “amount financed” (as defined in the Federal Truth-in-Lending Act (15 U.S.C. § 1601 et. seq) and its implementing regulations) and as set forth in the Federal Truth in Lending disclosure in the related
Contract. 
 “Annual Percentage Rate” or “APR” shall mean, with respect to a Loan, the “annual
percentage rate” (as defined in the Federal Truth-in-Lending Act (15 U.S.C. § 1601 et. seq) and its implementing regulations) and as set forth in the
Federal Truth in Lending disclosure in the related Contract. If, after the Closing Date, the rate per annum with respect to a Loan as of the related Cut-Off Date is reduced (i) as a result of an
insolvency proceeding involving the related Loan Obligor or (ii) pursuant to the Servicemembers Civil Relief Act or similar State law, “Annual Percentage Rate” or “APR” shall refer to such reduced rate. 

“Applicable Law” shall mean, with respect to any Person, all existing and future applicable laws, rules, regulations
(including proposed, temporary and final income tax regulations), statutes, treaties, codes, ordinances, permits, certificates, orders and licenses of and interpretations by any Governmental Authority (including, but not limited to, the federal
Dodd-Frank Act; the Truth in Lending Act and its implementing regulation, Regulation Z, as these 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 3 

 
appeared under the Federal Reserve Board and, currently, under the CFPB; the Equal Credit Opportunity Act and its implementing regulation, Regulation B, as these appeared under the Federal
Reserve Board and, currently, under the CFPB; the Exchange Act; the Fair Credit Reporting Act, including Regulation V; the Fair Credit Billing Act; the Fair Debt Collection Practices Act; the Federal Trade Commission Act; the Relief Act; state
adoptions of the foregoing federal laws; state usury laws; and state-specific adoptions of the National Consumer Act and the Uniform Consumer Credit Code), and applicable judgments, decrees, injunctions, writs, orders or line actions of any court,
arbitrator or other administrative, judicial or quasi-judicial tribunal or agency of competent jurisdiction. 
 “Applicable
Representations” shall have the meaning specified in Section 3.03 of this Agreement. 
 “Applicable SUBI Fee
Letter” means that Schedule of Fees to Serve as Owner Trustee for Regional Management Issuance Trust 2020-1, dated as of January 31, 2020. 

“Assignment Agreement” shall mean (a) an agreement substantially in the form of Exhibit A to the Purchase Agreement
relating to the Loans and other Purchased Assets purchased by the Seller on the Closing Date, (b) an agreement substantially in the form of Exhibit A to the Loan Purchase Agreement relating to the Loans and other Purchased Assets purchased by
the Depositor on the Closing Date and (c) with respect to the 2020-1A SUBI Supplement, a written allocation notice substantially in the applicable form attached to the
2020-1A SUBI Supplement pursuant to which the Servicer in accordance with the 2020-1A SUBI Supplement designates and further allocates Additional Loans that are North
Carolina Loans to the 2020-1A SUBI. 
 “Authoritative Copy” shall mean, with
respect to any Contract that constitutes Electronic Chattel Paper, the authoritative copy thereof, as such term is used in Section 9-105 of the UCC. 

“Authorized Officer” shall mean: 

(a) with respect to the Issuer, (i) any officer of the Owner Trustee who is authorized to act for the Owner Trustee in matters relating to
the Issuer and who is identified on the list of Authorized Officers, containing the specimen signature of each such Person, delivered by the Owner Trustee to the Indenture Trustee on the Closing Date (as such list may be modified or supplemented
from time to time thereafter), (ii) any officer of the Administrator who is authorized to act for the Administrator in matters relating to the Issuer and who is identified on the list of Authorized Officers (containing the specimen signatures of
such officers) delivered by the Administrator to the Indenture Trustee on the Closing Date (as such list may be modified or supplemented from time to time thereafter) and (iii) any officer of the Depositor who is authorized to act for the
Depositor in matters relating to the Issuer and who is identified on the list of Authorized Officers, containing the specimen signature of each such Person, delivered by the Depositor to the Indenture Trustee on the Closing Date (as such list may be
modified or supplemented from time to time thereafter); 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 4 

 (b) with respect to the Depositor, any officer of the Depositor who is identified on the
list of Authorized Officers (containing the specimen signature of each such Person) delivered by the Depositor to the Indenture Trustee on the Closing Date (as such list may be modified or supplemented from time to time thereafter); 

(c) with respect to the Servicer, any President, Vice President, Treasurer, Secretary or Assistant Secretary of the Servicer or any other
officer who is authorized to act for the Servicer; 
 (d) Secretary or Assistant Secretary of the Seller or any other officer who is
authorized to act for the Seller; and 
 (e) with respect to the Indenture Trustee, any Responsible Officer. 

“Available Funds” for any Payment Date shall mean, without duplication, (a) the Collections received in the Collection
Account during the Collection Period, including any investment earnings in each of the Note Accounts, relating to such Payment Date (other than amounts permitted to be retained by the Servicer in respect of Servicing Fees), (b) all amounts on
deposit in the Reserve Account as of the related Monthly Determination Date, and (c) during the Revolving Period, all amounts on deposit in the Principal Distribution Account as of the commencement of such Payment Date. 

“Back-up Servicer” shall mean, initially, Wells Fargo Bank, National Association, and
at any other time, the Person then acting as “Back-up Servicer” pursuant to and in accordance with the Back-up Servicing Agreement. 

“Back-up Servicer Termination Event” shall mean any
Back-up Servicer Termination Event specified in Section 4.3 of the Back-up Servicing Agreement. 

“Back-up Servicing Agreement” shall mean the
Back-up Servicing Agreement, dated as of the Closing Date, among the Issuer, the Depositor, the Indenture Trustee, the Servicer, the Back-up Servicer, the Image File
Custodian, and the North Carolina Trust pursuant to which the Back-up Servicer has agreed to perform the back-up servicing duties specified therein for the benefit of
the Issuer and the Noteholders, including with respect to the 2020-1A SUBI Assets. 
 “Back-up Servicing Fee” shall mean, with respect to (i) any Payment Date other than the Initial Payment Date, an amount equal to the greater of (a) $8,000 and (b) the product of (1) 0.06%
multiplied by (2) the aggregate Loan Principal Balance as of the first day of the related Collection Period, multiplied by (3) one-twelfth, or (ii) the Initial Payment Date, an amount equal to
the product of (x) 0.06%, multiplied by (y) the aggregate Loan Principal Balance as of the Closing Date, multiplied by (z) a fraction, the numerator of which is the number of days from the Closing Date through the end of the initial
Collection Period, and the denominator of which is 360. 
 “Bankruptcy Code” shall mean Title 11 of the United States Code,
11 U.S.C. §§ 101 et seq., as amended. 
 “Bankruptcy Loan” shall mean, to the extent reflected on the servicing
systems of the Servicer, any Loan (a) with respect to which all or any portion of the Loan Principal Balance thereof has been discharged and has not been reaffirmed by the related Loan Obligor, or (b) the Loan Obligor of which has filed,
or there has been filed against such Loan Obligor, voluntary or involuntary proceedings under the Bankruptcy Code or any other Debtor Relief Laws and such Loan has not been reaffirmed by the Loan Obligor in that proceeding. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 5 

 “Beneficial Interests” shall mean the beneficial interests in the Trust
evidenced by the Trust Certificate. 
 “Beneficial Owner” shall mean, with respect to any Book-Entry Note, the Person who
is the beneficial owner of such Note as reflected on the books of DTC or on the books of a Person maintaining an account with DTC (directly as a Participant or indirectly through a Participant, in accordance with the rules of DTC). 

“Beneficiary” shall mean the registered holder of a Trust Certificate as reflected in the register maintained pursuant to
Section 10.01(d) of the Trust Agreement. Initially, the Depositor is the sole Beneficiary. 
 “Book-Entry Notes” shall
mean security entitlements to the Notes, ownership and transfers of which shall be made through book entries by a Clearing Agency, as described in Section 2.04 of the Indenture. 

“Business Day” shall mean any day other than (a) a Saturday or Sunday or (b) any other day on which banking
institutions in New York, New York, Minneapolis, Minnesota, Greer, South Carolina and Wilmington, Delaware or any other city in which the Corporate Trust Office of the Indenture Trustee or the Owner Trustee or the principal executive offices of the
Servicer or the Depositor, as the case may be, are located, are authorized or obligated by law, executive order or governmental decree to be closed or on which the fixed income markets in New York, New York are closed. 

“Certificate of Trust” shall mean the certificate of trust of the Trust, filed on January 8, 2020, with the Office of
the Secretary of State of the State of Delaware pursuant to the Delaware Statutory Trust Statute. 
 “CFPB” shall mean the
U.S. Consumer Financial Protection Bureau established by the Dodd-Frank Act within the Federal Reserve System. 
 “Charged-Off Loan” shall mean any Loan (i) with respect to which a scheduled payment thereon remains unpaid for 180 days or more after the related due date for such payment (or such longer period as
permitted in accordance with the Credit and Collection Policy), or (ii) which has been charged off in full or in part by the Servicer (as reflected in the records of the Servicer), in each case in accordance with the Credit and Collection
Policy. The Loan Principal Balance of any Loan that becomes a “Charged-Off Loan” will be deemed to be zero as of the date it becomes a “Charged-Off
Loan.” 
 “Class” shall mean the Class A Notes, the Class B Notes, the Class C Notes or the
Class D Notes, as the context may require. 
 “Class A Interest Rate” shall mean 2.34% per annum.

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 6 

 “Class A Monthly Interest Amount” shall mean, for any
Payment Date, the amount of interest accrued during the related Interest Period at the Class A Interest Rate on the Class A Note Balance as of the close of business on the immediately preceding Payment Date, calculated on the basis of a 360-day year consisting of twelve 30-day months (or in the case of the Initial Payment Date, the period from (and including) the Closing Date to (but excluding) the Initial
Payment Date). 
 “Class A Note” shall mean any one of the 2.34% Class A Notes executed by the
Owner Trustee on behalf of the Issuer and authenticated by the Indenture Trustee, substantially in the applicable form attached as Exhibit A to the Indenture. 

“Class A Note Balance” shall initially mean $134,060,000, and thereafter shall equal the initial
Class A Note Balance reduced by all previous payments to the Class A Noteholders in respect of the principal of the Class A Notes that have not been rescinded. 

“Class B Interest Rate” shall mean 3.23% per annum. 

“Class B Monthly Interest Amount” shall mean, for any Payment Date, the amount of interest accrued during
the related Interest Period at the Class B Interest Rate on the Class B Note Balance as of the close of business on the immediately preceding Payment Date, calculated on the basis of a 360-day year
consisting of twelve 30-day months (or in the case of the Initial Payment Date, the period from (and including) the Closing Date to (but excluding) the Initial Payment Date). 

“Class B Note” shall mean any one of the 3.23% Class B Notes executed by the Owner Trustee on behalf
of the Issuer and authenticated by the Indenture Trustee, substantially in the applicable form attached as Exhibit A to the Indenture. 

“Class B Note Balance” shall initially mean $18,090,000, and thereafter shall equal the initial
Class B Note Balance reduced by all previous payments to the Class B Noteholders in respect of the principal of the Class B Notes that have not been rescinded. 

“Class C Interest Rate” shall mean 3.80% per annum. 

“Class C Monthly Interest Amount” shall mean, for any Payment Date, the amount of interest accrued during
the related Interest Period at the Class C Interest Rate on the Class C Note Balance as of the close of business on the immediately preceding Payment Date, calculated on the basis of a 360-day year
consisting of twelve 30-day months (or in the case of the Initial Payment Date, the period from (and including) the Closing Date to (but excluding) the Initial Payment Date). 

“Class C Note” shall mean any one of the 3.80% Class C Notes executed by the Owner Trustee on behalf
of the Issuer and authenticated by the Indenture Trustee, substantially in the applicable form attached as Exhibit A to the Indenture. 

“Class C Note Balance” shall initially mean $16,130,000, and thereafter shall equal the initial
Class C Note Balance reduced by all previous payments to the Class C Noteholders in respect of the principal of the Class C Notes that have not been rescinded. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 7 

 “Class D Interest Rate” shall mean 6.77% per annum. 

“Class D Monthly Interest Amount” shall mean, for any Payment Date, the amount of interest accrued during
the related Interest Period at the Class D Interest Rate on the Class D Note Balance as of the close of business on the immediately preceding Payment Date, calculated on the basis of a 360-day year
consisting of twelve 30-day months (or in the case of the Initial Payment Date, the period from (and including) the Closing Date to (but excluding) the Initial Payment Date). 

“Class D Note” shall mean any one of the 6.77% Class D Notes executed by the Owner Trustee on behalf
of the Issuer and authenticated by the Indenture Trustee, substantially in the applicable form attached as Exhibit A to the Indenture. 

“Class D Note Balance” shall initially mean $11,720,000, and thereafter shall equal the initial
Class D Note Balance reduced by all previous payments to the Class D Noteholders in respect of the principal of the Class D Notes that have not been rescinded. 

“Clearing Agency” shall mean an organization registered as a “clearing agency” pursuant to Section 17A of the
Exchange Act and serving as a clearing agency for a Series or Class of Book-Entry Notes. 
 “Clearstream” shall mean
Clearstream Banking, société anonyme, a professional depository incorporated under the laws of Luxembourg, and its successors. 

“Closing Date” shall mean September 23, 2020. 

“Collection Account” shall have the meaning specified in Section 8.02(a)(i) of the Indenture. 

“Collection Period” shall mean, with respect to each Payment Date, the immediately preceding calendar month; provided,
however, that the initial Collection Period will commence on the day immediately following the Initial Cut-Off Date and end on (and include) the last day of the calendar month immediately preceding the
Initial Payment Date. 
 “Collections” shall mean all amounts collected on or in respect of the Loans after the applicable Cut-Off Date, including scheduled loan payments (whether received in whole or in part, whether related to a current, future or prior due date, whether paid voluntarily by a Loan Obligor or received in connection
with the realization of the amounts due and to become due under any defaulted Loan or upon the sale of any property acquired in respect thereof), all partial prepayments, all full prepayments, recoveries, insurance proceeds or any other form of
payment. 
 “Contract” shall mean, with respect to any Loan, the fully executed original, electronically authenticated
original or authoritative copy (in each case, within the meaning of the UCC) of any non-revolving promissory note and security agreement or other form of large personal loan contract entered into by a Loan
Obligor under which an extension of credit by a Regional Originator was made in the ordinary course of business of such Regional Originator, which contract contains the terms and conditions applicable to such Loan and any applicable Truth in Lending
disclosure related thereto, in each case, as amended and in effect from time to time, including any related written allonges or extensions thereto. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 8 

 “Corporate Trust Office” shall have the meaning (a) when used in
respect of the Owner Trustee, the address of the Owner Trustee at Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890, Attn: Corporate Trust Administration, and (b) when used in respect of the Indenture Trustee, the Image
File Custodian or the Back-up Servicer, the address of the Indenture Trustee at Wells Fargo Center, 600 S. 4th Street, Minneapolis, Minnesota 55415, Attn:
Asset-Backed Securities Department. 
 “Credit and Collection Policy” shall mean the credit and collection policies and
practices and procedures maintained by the Servicer relating to the Loans, as the same may be amended, supplemented or otherwise modified from time to time in accordance with the Sale and Servicing Agreement. If there is a Successor Servicer,
“Credit and Collection Policy” shall mean the customary and usual servicing, administration and collection practices and procedures used by servicing companies of comparable experience to the Successor Servicer for servicing personal loans
comparable to the Loans which the Successor Servicer services for its own account, as the same may be amended, supplemented or otherwise modified from time to time. 

“Custodian” shall mean the Servicer, in its capacity as custodian of the Contracts under the Sale and Servicing Agreement.

 “Cut-Off Date” shall mean the Initial
Cut-Off Date or any Additional Cut-Off Date, as applicable. 

“DBRS Morningstar” shall mean DBRS, Inc., or any successor. 

“Debtor Relief Laws” shall mean (i) the Bankruptcy Code and (ii) all other applicable liquidation, conservatorship,
bankruptcy, moratorium, arrangement, receivership, insolvency, reorganization, suspension of payments, adjustment of debt, marshalling of assets or similar debtor relief laws of the United States, any state or any foreign country from time to time
in effect affecting the rights of creditors generally. 
 “Definitive Notes” shall mean, for any Class, the Notes issued in
fully registered, certificated form issued to the owners of such Class or their nominee. 
 “Delaware Secretary of
State” shall mean the Office of the Secretary of State of the State of Delaware. 
 “Delaware Statutory Trust
Statute” shall mean Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. § 3801 et seq., as amended from time to time. 

“Delinquent Loan” shall mean a Loan, other than a Charged-Off Loan, with respect to
which a scheduled monthly payment thereon remains unpaid for 60 days or more from the related due date in accordance with the Credit and Collection Policy as reflected in the records of the Servicer or the applicable Subservicer. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 9 

 “Delinquent Renewal” shall mean, with respect to any Loan in the Trust
Estate, a transaction in which a new non-revolving personal loan originated pursuant to a Contract is entered into between a Regional Originator and a Loan Obligor, which new
non-revolving personal loan (x) is originated in accordance with Regional’s delinquent renewal underwriting criteria as set forth in its Credit and Collection Policy, (y) refinances such Loan in
full or in part, and (z) may also extend additional financing to such Loan Obligor. 
 “Delinquent Renewal Loan” shall
mean the new non-revolving personal loan entered into between the applicable Regional Originator and the Loan Obligor pursuant to any Delinquent Renewal. 

“Deliveries” shall have the meaning specified in Section 12.02 of the Trust Agreement. 

“Demand” shall have the meaning specified in Section 6.14(a) of the Indenture. 

“Depositor” shall mean Regional Management Receivables III, LLC, a limited liability company formed and existing under the
laws of the State of Delaware, and its permitted successors and assigns. 
 “Depositor LLC Agreement” shall mean the
Amended and Restated Limited Liability Company Agreement of the Depositor, dated as of June 27, 2018. 
 “Direct Depositor
Breach” shall have the meaning specified in Section 2.06(a) of this Agreement. 
 “Directing Holder” shall
mean (a) so long as the Indenture shall not have terminated, the Required Noteholders, and (b) in all other instances, the holder or holders of more than 50% of the voting power of the Beneficial Interests. 

“Disqualification Event” with respect to the Owner Trustee shall mean (a) the bankruptcy, insolvency or dissolution of
the Owner Trustee, (b) the occurrence of the date of resignation of the Owner Trustee, as set forth in a notice of resignation given pursuant to Section 8.01 of the Trust Agreement, (c) the delivery to the Owner Trustee of the
instrument or instruments of removal referred to in Section 8.01 of the Trust Agreement (or, if such instruments specify a later effective date of removal, the occurrence of such later date), or (d) the failure of the Owner Trustee to
qualify under the requirements of Section 8.03 of the Trust Agreement. 
 “Distribution Compliance Period” shall have
the meaning specified in Section 2.05(b) of the Indenture. 
 “Dodd-Frank Act” shall mean the Dodd-Frank Wall Street
Reform and Consumer Protection Act, which was signed into law on July 21, 2010. 
 “Dollars,” “$” or
“U.S. $” shall mean (a) U.S. dollars or (b) denominated in U.S. dollars. 
 “DTC” shall mean The
Depository Trust Company, a New York corporation. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 10 

 “Early Amortization Event” shall mean any Early Amortization Event
specified in Section 5.01 of the Indenture. 
 “Electronic Chattel Paper” shall have the meaning specified in Article
9 of the UCC. 
 “Electronic Collateral Control Agreement” shall mean that certain Electronic Collateral Control Agreement,
dated as of September 23, 2020, by and among the Indenture Trustee, the Issuer, Regional Management, the North Carolina Trust and eOriginal, Inc., as the same may be amended, restated, supplemented or otherwise modified from time to time. 

“Electronic Contract” shall mean a Contract that was electronically executed and authenticated; provided, that an Electronic
Contract that has been Exported shall not constitute an Electronic Contract. 
 “Electronic Vault” shall mean the
electronic vault wherein custody of Electronic Contracts shall be maintained in electronic form by the Servicer (in its capacity as custodian under the Transaction Documents) (or any successor servicer), in each case, through a third-party
Electronic Vault Provider that enables electronic contracting pursuant to the related electronic vault services agreement. 

“Electronic Vault Provider” shall mean eOriginal, Inc., a Delaware corporation, and any successor or replacement third-party
provider of the technology platform on which the Electronic Vault operates acting in such capacity with the consent of the Indenture Trustee (with the written consent of the Required Noteholders). 

“Electronic Vault Services Agreement” shall mean any agreement between Regional Management and the Electronic Vault Provider
that provides for services related to the Electronic Vault. 
 “Electronic Vault System” shall mean the electronic vault
system provided by the Electronic Vault Provider pursuant to the Electronic Vault Services Agreement or such other electronic system provider as may be mutually agreed upon by the Issuer, Regional Management and the Indenture Trustee (with the
written consent of the Required Noteholders) that enables electronic contracting. 
 “Eligible Deposit Account” shall mean
either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States or any one of the states thereof,
including the District of Columbia (or any domestic branch of a foreign bank), and acting as a trustee for funds deposited in such account, so long as either (x) (A) such depository institution has a long-term issuer credit rating of “A-” or higher from S&P and a long-term issuer credit rating of “Baa1” or higher from Moody’s and (B) any of the unsecured, unguaranteed senior debt securities of such depository
institution shall have a credit rating from Moody’s in one of its generic credit rating categories that signifies “Baa2” or higher, or (y) each Rating Agency approves such segregated trust account in writing. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 11 

 “Eligible Institution” shall mean a depository institution organized under
the laws of the United States of America or any one of the states thereof, including the District of Columbia (or any domestic branch of a foreign bank), which at all times has (a)(i) a long-term unsecured debt rating of “Baa1” or better
by Moody’s and (ii) a certificate of deposit rating of “P-2” or better by Moody’s and (b)(i) a long-term issuer credit rating of “A-”
or better by S&P and a long-term issuer credit rating of “Baa1” or better by Moody’s or (ii) a short-term issuer credit rating of “A-1” or better by S&P and a short-term
issuer credit rating of “P-1” or better by Moody’s. If so qualified, any of the Indenture Trustee or the Administrator may be considered an Eligible Institution for the purposes of this
definition. 
 “Eligible Investments” shall mean book-entry securities, negotiable instruments or securities represented by
instruments in bearer or registered form which have maturities of no later than the Business Day immediately prior to the next succeeding Payment Date (unless payable on demand, in which case such securities or instruments may mature on such next
succeeding Payment Date) and which evidence: 
 (a) direct obligations of, and obligations fully guaranteed as to timely
payment by, the United States of America; 
 (b) demand deposits, time deposits or certificates of deposit (having original
maturities of no more than 365 days) of depository institutions or trust companies incorporated under the laws of the United States of America or any state thereof (or domestic branches of foreign banks) and subject to supervision and examination by
federal or state banking or depository institution authorities; provided that at the time of the Issuer’s investment or contractual commitment to invest therein, the short-term debt rating of such depository institution or trust company will be
rated “R-1(high)” or higher by DBRS Morningstar and “A” or “A-1” by S&P; 

(c) commercial paper (having remaining maturities of no more than 30 days) having, at the time of the Issuer’s investment
or contractual commitment to invest therein, a rating of “R-1(high)” or higher from DBRS Morningstar and a rating of “A-2” or higher by S&P; 

(d) investments in money market funds rated “AAAm” or higher by S&P and an equivalent rating by DBRS Morningstar
or otherwise approved in writing by DBRS Morningstar, if rated by DBRS Morningstar; 
 (e) demand deposits, time deposits and
certificates of deposit (having original maturities of no more than 365 days) which are fully insured by the Federal Deposit Insurance Corporation, having at the time of the Issuer’s investment or contractual commitment to invest therein, a
rating of “A-1+” by S&P and an equivalent rating by DBRS Morningstar; 

(f) notes or bankers’ acceptances (having original maturities of no more than 365 days) issued by any depository
institution or trust company referred to in (b) above; 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 12 

 (g) time deposits, other than as referred to in clause (e) above
(having original maturities of no more than 365 days), with a Person (i) the commercial paper of which is rated “A-1+” by S&P and an equivalent rating by DBRS Morningstar or (ii) that
has a long-term unsecured debt rating of “A+” or higher by S&P and an equivalent rating by DBRS Morningstar; or 

(h) any other investments approved in writing by DBRS Morningstar and by S&P. 

Eligible Investments may be purchased by or through the Indenture Trustee or any of its Affiliates and may include proprietary funds offered or managed by
Wells Fargo or an Affiliate thereof. 
 “Eligible Loan” shall mean a Loan that as of the applicable Cut-Off Date: (i) is not categorized as a Bankruptcy Loan, (ii) is either an interest-bearing loan or a Precompute Loan, (iii) has a fixed-rate of interest, (iv) is denominated in U.S. dollars,
(v) the maturity date therefor had not occurred, (vi) is not a Delinquent Loan or a Charged-Off Loan, (vii) is not a Revolving Loan, (viii) was originated at a branch location of a Regional
Originator (if the related Contract was not an Electronic Contract), (ix) if the related Contract is an Electronic Contract, was originated by a Regional Originator with branch assistance to an existing or former borrower, (x) was originated in
all material respects in accordance with the Credit and Collection Policy in effect as of the date of origination of such Loan, (xi) has an origination term of not more than 72 months, (xii) in connection with the origination thereof, a
Contract was created, (xiii) is a Soft Secured Loan, a Hard Secured Loan or an Unsecured Loan, (xiv) is not secured by real property, (xv) has an Amount Financed that is greater than $2,500 and less than $20,000, (xvi) the collateral
that secures such Loan had not been, and was not in the process of being, repossessed, (xvii) is not an Extension Loan, (xviii) is not a Modified Contract, (xix) has an original and current APR equal to or greater than 5.00% and equal
to or less than 36.00%, (xx) is not subject to litigation or legal proceedings, (xxi) the Loan Obligor of which had a FICO® score at the time of origination and such FICO® score was at least 525 (or, in the case of a Loan with two Loan Obligors, based on the higher of the two FICO® scores at origination) and
(xxii) is not a Delinquent Renewal Loan for which no payment has been made since the related Delinquent Renewal. 
 “Eligible
Servicer” shall mean the Indenture Trustee, Regional Management, the Back-up Servicer or an entity which, at the time of its appointment as Servicer, (a)(i) is the surviving Person of a merger or
consolidation with, or the transferee of all or substantially all of the assets of, Regional Management in a transaction otherwise complying with the relevant terms of the Sale and Servicing Agreement, (ii) is servicing a portfolio of personal
loans, (iii) is legally qualified and has the capacity (in each case, either directly or through one or more subservicers) to service and administer the Loans in accordance with the Sale and Servicing Agreement and the 2020-1A SUBI Servicing Agreement and (iv) is qualified to use the software that is then being used to service the Loans or obtains the right to use or has its own software which is adequate to perform its
duties under the Sale and Servicing Agreement the 2020-1A SUBI Servicing Agreement or (b)(i) is servicing a portfolio of personal loans, (ii) is legally qualified and has the capacity (in each case,
either directly or through one or more subservicers) to service and administer Loans in accordance with the Sale and Servicing Agreement and the 2020-1A SUBI Servicing Agreement, (iii) has demonstrated
the ability to service professionally and competently a portfolio of loans which are similar to the Loans in accordance with high standards of skill and care and (iv) is qualified to use the software that is then being used to service the Loans
or obtains the right to use or has its own software which is adequate to perform its duties under the Sale and Servicing Agreement and the 2020-1A SUBI Servicing Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 13 

 “Encumbrance” shall mean any security interest, mortgage, claim, charge
(fixed or floating), deed of trust, pledge, hypothecation, assignment, deposit arrangement, equity interest, encumbrance, lien (statutory or other), preference, participation interest, priority or other security agreement or preferential arrangement
of any kind or nature whatsoever, including any conditional sale or other title retention agreement, or any financing lease having substantially the same economic effect as any of the foregoing, and the filing of any financing statement under the
UCC or comparable law of any jurisdiction to evidence any of the foregoing; provided, however, that any assignment permitted by Section 2.05 of, and the lien created by, the Sale and Servicing Agreement shall not be deemed to constitute an
Encumbrance; provided further, however, that each of (a) the lien created in favor of the Depositor under the Loan Purchase Agreement, (b) the lien created in favor of the Issuer under the Sale and Servicing Agreement and (c) the lien
created in favor of the Indenture Trustee under the Indenture shall not be deemed to constitute an Encumbrance. 
 “ERISA”
shall mean the Employee Retirement Income Security Act of 1974, as amended. 
 “EU Institutional Investor” means an
institutional investor as such term is defined in Article 2(12) of the EU Securitization Regulation. 
 “EU Securitization
Regulation” means European Union legislation comprising EU Regulation (EU) 2017/2402. 
 “Euroclear” shall mean
the Euroclear System. 
 “Event of Default” shall have the meaning specified in Section 5.02 of the Indenture. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

“Excluded Loan” shall have the meaning specified in Section 8.07(iii) of the Indenture. 

“Exported” shall mean, with respect to a Contract, the Servicer (acting at the written direction of the Indenture Trustee) or
the Indenture Trustee has decommissioned the related Electronic Contract and the Authoritative Copy (in the case of an Electronic Contract that constitutes Electronic Chattel Paper) or the electronically authenticated original record (in the case of
an Electronic Contract that does not constitute Electronic Chattel Paper), as applicable, of such Contract is printed out pursuant to a “Paper Out”TM within the meaning specified in
the System Description. “Export” and “Exporting” shall have correlative meanings. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 14 

 “Extension Loan” shall mean, as of any date of determination, a personal
loan contract with respect to which the time for payment of any scheduled monthly payment due under such personal loan contract has been extended for more than two months (in the aggregate) within the twelve-month period preceding such date of
determination; provided, that if any payment extension in respect of a personal loan is granted (i) due to the declaration of a state of emergency by the governor of a U.S. state or the President of the United States, or (ii) due to the
enactment of laws, regulations, executive orders or other guidance by any governmental authority (including federal, state or local governments), that mandates the granting of a payment deferral or extension or prevents collection activities with
respect to such loan, then, in the case of clause (i) or (ii), such extension shall not be counted for purposes of determining whether such personal loan contract constitutes an “Extension Loan.” 

“FATCA” shall have the meaning specified in Section 11.17(a) of the Indenture. 

“FATCA Withholding Tax” shall have the meaning specified in Section 11.17(a) of the Indenture. 

“Federal Reserve Board” shall mean the Board of Governors of the Federal Reserve System. 

“First Priority Principal Payment” shall mean, with respect to any Payment Date, (a) at any time prior to the occurrence
of an Event of Default, an amount equal to the excess (if any) of (i) the Class A Note Balance as of the end of the related Collection Period over (ii) the Adjusted Loan Principal Balance as of the end of the related Collection Period
and (b) at any time from and after the occurrence of an Event of Default or on or after the Stated Maturity Date in respect of the Class A Notes, the Class A Note Balance. 

“Force Majeure Event” shall mean an event that occurs as a result of an act of God, an act of the public enemy, acts of
declared or undeclared war (including acts of terrorism), public disorder, rebellion, sabotage, disease, quarantine, epidemics, pandemics, landslides, lightning, fire, hurricanes, earthquakes, floods, other natural disasters, or the declaration of a
state of emergency by the governor of a U.S. state or the President of the United States. 
 “Fourth Priority Principal
Payment” shall mean, with respect to any Payment Date, (a) at any time prior to the occurrence of an Event of Default, an amount equal to the excess (if any) of (i) the sum of (A) the Class A Note Balance as of the end
of the related Collection Period plus (B) the Class B Note Balance as of the end of the related Collection Period plus (C) the Class C Note Balance as of the end of the related Collection Period plus (D) the Class D
Note Balance as of the end of the related Collection Period minus the amount on deposit in the Principal Distribution Account (after giving effect to any allocations to the Principal Distribution Account pursuant to Sections 8.06(a)(v), (vii)
and (ix) of the Indenture) over (ii) the Adjusted Loan Principal Balance as of the end of the related Collection Period and (b) at any time from and after the occurrence of an Event of Default or on or after the Stated Maturity Date
in respect of the Class D Notes, the sum of the Class A Note Balance, the Class B Note Balance, the Class C Note Balance and the Class D Note Balance minus the amount on deposit in the Principal Distribution Account
(after giving effect to any allocations to the Principal Distribution Account pursuant to Sections 8.06(a)(v), (vii) and (ix) of the Indenture). 

“Global Note” shall mean a Rule 144A Global Note or a Regulation S Global Note. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 15 

 “Governmental Authority” shall mean any federal, state, municipal,
national, local or other governmental department, court, commission, board, bureau, agency, intermediary, carrier or instrumentality or political subdivision thereof, or any entity or officer exercising executive, legislative, judicial,
quasi-judicial, regulatory or administrative functions of or pertaining to any government or any court, in each case, whether of the United States or a state, territory or possession thereof, a foreign sovereign entity or country or jurisdiction or
the District of Columbia. 
 “Grant” shall mean to grant, bargain, warrant, alienate, remise, demise, release, convey,
assign, transfer, mortgage, pledge, grant a security interest in, create a right of set-off against, deposit, set over and confirm. A Grant of any item of the Trust Estate shall include all rights, powers and
options (but none of the obligations) of the granting party thereunder, including without limitation the immediate and continuing right to claim for, collect, receive and give receipt for principal and interest payments in respect of such item of
the Trust Estate, and all other monies payable thereunder, to give and receive notices and other communications, to make waivers or other agreements, to exercise all rights and options, to bring any suit in equity, action at law or other judicial or
administrative proceeding in the name of the granting party or otherwise, and generally to do and receive anything that the granting party may be entitled to do or receive thereunder or with respect thereto. 

“Hard Secured Loan” shall mean a Loan that is, as of the date of the origination thereof, secured by a lien on one or more
Titled Assets. 
 “Image File Custodian” shall mean Wells Fargo, not in its individual capacity but solely in its capacity
as image file custodian under the Back-up Servicing Agreement, its successors in interest and any successor image file custodian under the Back-up Servicing Agreement.

 “Image File Custodian Fee” shall mean (i) a one-time fee of $2.10 for each
Imaged File delivered to the Image File Custodian pursuant to the Back-up Servicing Agreement, (ii) a monthly fee of $0.10 for each Imaged File in the Image File Custodian’s custody pursuant to the Back-up Servicing Agreement, payable on each Payment Date beginning in November 2020, (iii) a one-time fee of $1.00 for each Imaged File deleted pursuant to the Back-up Servicing Agreement, and (iv) a one-time fee of $0.50 for each Imaged File deleted pursuant to a deletion request totaling more than 3,000 Imaged Files. 

“Imaged File” shall mean, with respect to any Loan (except for a Loan with respect to which the related Contract is an
Electronic Contract or has been Exported), (a) an imaged copy of the applicable Contract and (b) in the event such Loan is a Hard Secured Loan, an imaged copy of the certificate of title of the Titled Asset securing such Hard Secured Loan, in
each case, as such document exists as of the date such imaging is performed with respect to such Loan. 
 “Indemnified
Parties” shall have the meaning specified in Section 6.02 of the Loan Purchase Agreement or Section 11.02 of the Trust Agreement, as applicable. 

“Indenture” shall mean the Indenture, dated as of the Closing Date, among the Issuer, the Indenture Trustee, the Account Bank
and the Servicer, as the same may be amended, supplemented or otherwise modified from time to time. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 16 

 “Indenture Trustee” shall mean Wells Fargo Bank, National Association, in
its capacity as indenture trustee under the Indenture, its successors in interest and any successor indenture trustee under the Indenture. 

“Independent” shall mean, when used with respect to any specified Person, that the Person (a) is in fact independent of
the Issuer, any other obligor upon the Notes, the Depositor, and any Affiliate of any of the foregoing Persons, (b) does not have any direct financial interest or any material indirect financial interest in the Issuer, any such other obligor,
the Depositor or any Affiliate of any of the foregoing Persons and (c) is not connected with the Issuer, any such other obligor, the Depositor or any Affiliate of any of the foregoing Persons as an officer, employee, promoter, underwriter,
trustee, partner, director or person performing similar functions. 
 “Independent Manager” shall have the meaning
specified in the Depositor LLC Agreement. 
 “Initial Beneficiary” shall have the meaning specified in the North Carolina
Trust Agreement. 
 “Initial Cut-Off Date” shall mean August 31, 2020. 

“Initial Loan” shall mean (a) with respect to the Loan Purchase Agreement, each
non-revolving personal loan that is sold to the Depositor pursuant to the Loan Purchase Agreement on the Closing Date, (b) with respect to the Sale and Servicing Agreement, each non-revolving personal loan that is acquired by the Issuer pursuant to the Sale and Servicing Agreement on the Closing Date, (c) with respect to the 2020-1A SUBI
Supplement, each North Carolina Loan that is allocated to the 2020-1A SUBI on the Closing Date, (d) with respect to the Purchase Agreement, each non-revolving
personal loan that is sold to the Seller pursuant to the Purchase Agreement on the Closing Date, (e) with respect to the Omnibus Distribution and Assignment Agreement, each non-revolving personal loan
that is transferred to the Seller pursuant to the Omnibus Distribution and Assignment Agreement on the Closing Date, and (f) with respect to any Other Warehouse Purchase Agreement, each non-revolving
personal loan that is sold to the Seller pursuant to such Other Warehouse Purchase Agreement on the Closing Date. 
 “Initial Loan
Assignment” shall mean a written agreement substantially in the form of Exhibit A-1 to the Sale and Servicing Agreement relating to the Loans and other Sold Assets acquired by the Issuer on the
Closing Date. 
 “Initial Note Balance” shall mean $180,000,000. 

“Initial Payment Date” shall mean October 15, 2020. 

“Initial Purchasers” shall mean Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 17 

 “Insolvency Event” with respect to any Person, shall occur if (a) such
Person shall file a petition or commence a Proceeding (i) to take advantage of any Debtor Relief Law or (ii) for the appointment of a trustee, conservator, receiver, liquidator, or similar official for or relating to such Person or all or
substantially all of its property, or for the winding up or liquidation of its affairs, (b) such Person shall consent or fail to object to any such petition filed or Proceeding commenced against or with respect to it or all or substantially all
of its property, or any such petition or Proceeding shall not have been dismissed or stayed within sixty (60) days of its filing or commencement, or a court, agency, or other supervisory authority with jurisdiction shall have decreed or ordered
relief with respect to any such petition or Proceeding, (c) such Person shall admit in writing its inability to pay its debts generally as they become due, (d) such Person shall make an assignment for the benefit of its creditors,
(e) such Person shall voluntarily suspend payment of its obligations, or (f) such Person shall take any action in furtherance of any of the foregoing. 

“Intercreditor Agreement” shall mean (a) that certain Third Amended and Restated Intercreditor Agreement, dated as of
September 20, 2019, by and among Regional Management, Wells Fargo Bank, National Association, as agent, the Intercreditor Collateral Agent, Regional Management, as servicer under the Term Loan, the Warehouse Facility and the Outstanding
Securitizations, Wells Fargo Securities, LLC, as administrative agent under the Term Loan, Wells Fargo Bank, National Association, acting through its Corporate Trust Services division, as pre-approved Third
Party Allocation Agent, the Term Loan Borrower, as special purpose subsidiary for the Term Loan, the Warehouse Borrower, as special purpose subsidiary for the Warehouse Facility, Regional Management, Regional Finance Corporation of South Carolina,
Regional Finance Corporation of Georgia, Regional Finance Corporation of Texas, Regional Finance Corporation of North Carolina, Regional Finance Corporation of Alabama, Regional Finance Corporation of Tennessee, Regional Finance Company of Oklahoma,
LLC, Regional Finance Company of New Mexico, LLC, Regional Finance Company of Missouri, LLC, Regional Finance Company of Georgia, LLC, Regional Finance Company of Mississippi, LLC, Regional Finance Company of Louisiana, LLC, RMC Financial Services
of Florida, LLC, Regional Finance Company of Kentucky, LLC, Regional Finance Company of Virginia, LLC, Regional Finance Corporation of Wisconsin and Regional Finance Company of Illinois, LLC, as Regional borrowers, the
2018-2 Issuer and the 2019-1 Issuer, as special purpose subsidiaries for the Outstanding Securitizations, Credit Recovery Associates, Inc. and Upstate Motor Company, as
guarantors of the Regional borrowers, the 2018-2 Indenture Trustee and the 2019-1 Indenture Trustee, as administrative agents for the Outstanding Securitizations, and
any trustee, custodian, collateral agent, paying agent or other person authorized on behalf of a Related Secured Party, as the same may be amended, supplemented or otherwise modified from time to time, and (b) that certain joinder to the
document described in clause (a) above, executed by the Indenture Trustee, the Issuer and the other parties thereto on the Closing Date. 

“Intercreditor Security Agreement” shall mean (a) that certain Second Amended and Restated Security Agreement, dated as
of September 20, 2019, by and among Regional Management, Regional Finance Corporation of South Carolina, Regional Finance Corporation of Georgia, Regional Finance Corporation of Texas, Regional Finance Corporation of North Carolina, Regional
Finance Corporation of Alabama, Regional Finance Corporation of Tennessee, Regional Finance Company of Oklahoma, LLC, Regional Finance Company of New Mexico, LLC, Regional Finance Company of Missouri, LLC, Regional Finance Company of Georgia, LLC,
Regional Finance Company of Mississippi, LLC, Regional Finance Company of Louisiana, LLC, RMC Financial Services of Florida, LLC, Regional Finance Company of Illinois, LLC, Regional Finance Company of Kentucky, LLC, Regional Finance Company of
Virginia, LLC and Regional Finance Corporation of Wisconsin, as ABL borrowers, Credit Recovery Associates, Inc. and 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 18 

 
Upstate Motor Company, as guarantors, the Term Loan Borrower, the Warehouse Borrower and each additional grantor that is a signatory or becomes a signatory thereunder, including the 2018-2 Issuer and the 2019-1 Issuer, as entered into for the benefit of the Intercreditor Collateral Agent, as collateral agent for the Lender Agents, as the same may be
amended, supplemented or otherwise modified from time to time, and (b) that certain joinder to the document described in clause (a) above, executed by the Issuer and the other parties thereto on the Closing Date. 

“Interest Period” shall mean, for each Class of Notes and with respect to any Payment Date, the period from and
including the Payment Date immediately preceding such Payment Date to but excluding such Payment Date (or, in the case of the Initial Payment Date, the period from and including the Closing Date to but excluding such Payment Date). 

“Interest Rate” shall mean, with respect to the Class A Notes, the Class A Interest Rate, with respect to the
Class B Notes, the Class B Interest Rate, with respect to the Class C Notes, the Class C Interest Rate, and with respect to the Class D Notes, the Class D Interest Rate. 

“Internal Revenue Code” shall mean the Internal Revenue Code of 1986, as amended. 

“Investment Company Act” shall mean the Investment Company Act of 1940, as amended. 

“IRS” shall mean the U.S. Internal Revenue Service. 

“Issuer” shall mean Regional Management Issuance Trust 2020-1, a statutory trust
organized and existing under the laws of the State of Delaware, and its permitted successors and assigns. 
 “Issuer Loan
Release” shall have the meaning specified in Section 8.07(v) of the Indenture. 
 “Issuer Order” shall mean a
written order or request signed in the name of the Issuer by an Authorized Officer and delivered to the Indenture Trustee. 

“Later-Sold Note” shall have the meaning specified in Section 3.14(c) of the Indenture. 

“Lien” shall mean, with respect to any property, any mortgage, deed of trust, pledge, hypothecation, assignment, deposit
arrangement, equity interest, encumbrance, lien (statutory or other), preference, participation interest, priority or other security agreement or preferential arrangement of any kind or nature whatsoever relating to that property, including any
conditional sale or other title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing and the filing of any financing statement under the UCC or comparable law of any jurisdiction to evidence
any of the foregoing. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 19 

 “Liquidation Proceeds” shall mean, for any Collection Period and any Charged-Off Loan, the amount (which shall not be less than zero) received by the Servicer and deposited into the Collection Account after such Loan became a Charged-Off Loan,
in connection with the attempted realization of the full amounts due or to become due under such Loan, whether from the sale or other disposition of any underlying collateral securing the related Contract, the proceeds of repossession or any
collection effort, the proceeds of recourse or similar payments payable in respect of such Loan, or otherwise, net of any amounts required by Applicable Law to be remitted to the related Loan Obligor and net of any reasonable out-of-pocket expenses (exclusive of overhead) incurred by the Servicer with respect to the collection and enforcement of such Loan, to the extent not previously reimbursed to
the Servicer. 
 “Loan” shall mean any Initial Loan or Additional Loan, but excluding any Loan that has been reassigned to
the Seller (or in the case of the 2020-1A SUBI Loans, reallocated from the 2020-1A SUBI in accordance with the 2020-1A SUBI
Supplement) pursuant to Section 6.01 of the Loan Purchase Agreement or Section 3.02(d) of the 2020-1A SUBI Servicing Agreement or otherwise in accordance with the Transaction Documents. Unless
otherwise qualified herein, all references to “Loan” shall include the 2020-1A SUBI Loans. 

“Loan Action” shall have the meaning specified in Section 8.07 of the Indenture. 

“Loan Action Date” shall mean any Payment Date. 

“Loan Action Date Aggregate Principal Balance” shall mean, for any Loan Action Date, the aggregate Loan Action Date Loan
Principal Balance for all Loans in the Loan Action Date Loan Pool for such Loan Action Date. 
 “Loan Action Date Loan
Pool” shall mean, for any Loan Action Date, all Loans that (a)(i) constitute part of the Trust Estate and are not Charged-Off Loans, in each case, as of the end of the Collection Period immediately
preceding such Loan Action Date, or (ii) are added to the Trust Estate on such Loan Action Date; (b) have not ceased to be part of the Trust Estate after the end of the Collection Period immediately preceding such Loan Action Date,
including as a result of any Loan Actions on such Loan Action Date; and (c) are not, following the Loan Actions to be taken on such Loan Action Date, designated as Excluded Loans. 

“Loan Action Date Loan Principal Balance” shall mean, for any Loan and any Loan Action Date, the Loan Principal Balance of
such Loan as of the close of business on the last day of the Collection Period immediately preceding such Loan Action Date. 
 “Loan
File” shall mean, with respect to each Loan, (i)(x) in the case of a Contract (other than an Electronic Contract), the original fully executed Contract, including, in the case of a Contract which has been Exported, the physical rendering of
the related Electronic Contract produced upon Export, together with the related document history report, (y) in the case of an Electronic Contract that constitutes Electronic Chattel Paper, a single Authoritative Copy of the executed Contract,
and (z) in the case of an Electronic Contract that does not constitute Electronic Chattel Paper, the electronically authenticated original record of the executed Contract, and (ii) any additional original executed documents, if any,
evidencing a modification to any of the foregoing documents, whether executed physically or electronically and whether maintained in tangible or electronic form; provided, that with respect to clauses (i)(y) and (i)(z), the Electronic Contract is
maintained by the Electronic Vault Provider as a designated custodian of the Indenture Trustee (for the benefit of the Noteholders) in the Electronic Vault pursuant to Section 3.11(b) of the Sale and Servicing Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 20 

 “Loan Obligor” shall mean any borrower,
co-borrower, guarantor, or other obligor with respect to a Loan. In respect of each Loan, if there is more than one Loan Obligor (husband and wife, for example), references herein to Loan Obligor shall mean
any or all of such Loan Obligors, as the context may require. 
 “Loan Pool” shall mean the pool of Loans (including the 2020-1A SUBI Loans). 
 “Loan Principal Balance” shall mean as of any determination date
with respect to (a) a Loan other than a Precompute Loan, the outstanding principal balance of such Loan and (b) a Loan that is a Precompute Loan, the calculated principal balance of such Precompute Loan, which is the result of (x) the
remaining unpaid amount due in respect of such Precompute Loan minus (y) the unearned interest on such Precompute Loan calculated on an accrual basis, provided, that the Loan Principal Balance of any Loan a portion of which has been
charged off in accordance with the Credit and Collection Policy shall be reduced by the portion so charged off. 
 “Loan Purchase
Agreement” shall mean the Loan Purchase Agreement, dated as of the Closing Date, between the Seller and the Depositor. 

“Loan Reassignment” shall mean a Loan Reassignment in substantially the form of Exhibit C hereto, or in the case of the 2020-1A SUBI Loans in substantially the form of the Reallocation Notice of Exhibit D to the 2020-1A SUBI Supplement. 

“Loan Schedule” shall mean a complete schedule prepared by the Servicer on behalf of the Seller and the Depositor identifying
all Loans sold by the Seller to the Depositor (or in the case of the 2020-1A SUBI Loans, allocated to the 2020-1A SUBI in accordance with the 2020-1A SUBI Supplement) on the initial Closing Date, and which Loans (other than the 2020-1A SUBI Loans), in turn, are sold by the Depositor to the Issuer on the initial
Closing Date, as such schedule is updated or supplemented from time to time, including, without limitation, in connection with any Additional Loan Assignment or any reassignment (or in the case of the 2020-1A
SUBI Loans, reallocation of such 2020-1A SUBI Loans from the 2020-1A SUBI) pursuant to Section 2.05 of this Agreement or Section 11.2(a) of the 2020-1A SUBI Supplement, as applicable, or otherwise. The Loan Schedule may take the form of a computer file, or another tangible medium that is commercially reasonable. The Loan Schedule shall identify each Loan by
last name of the Loan Obligor, the Loan Obligor’s account number, whether such Loan is a Hard Secured Loan (with a certificate of title or not), the Loan amount, APR, contract term (i.e., the number of payments), branch state and Loan
Obligor’s state of residence at time of origination (to the extent such information appears in any relevant Imaged File). 

“Material Adverse Effect” shall mean, in respect of any Person, a material adverse change in the business, assets or
operations of such Person. 
 “Modified Contract” shall mean a personal loan contract which, at any time, was in default
and which default was cured by adjusting or amending the contract terms or accepting a reduced payment, other than a personal loan contract that was modified in connection with an insolvency proceeding under Chapter 13 of the Bankruptcy Code. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 21 

 “Monthly Data Tape” shall mean the electronic files containing the
information necessary for the Servicer to prepare the Monthly Servicer Report pursuant to Section 3.06 of this Agreement. 

“Monthly Determination Date” shall mean, with respect to any Payment Date, the date that is two (2) Business Days prior
to such Payment Date. 
 “Monthly Net Loss Percentage” shall mean, for any Monthly Determination Date, the product of
(i) the quotient (expressed as a percentage) of (I) the sum of (x) the aggregate Loan Principal Balance of all Loans that became Charged-Off Loans during the related Collection Period,
plus (y) the aggregate amount by which the Loan Principal Balance of any Loans (other than Charged-Off Loans) were reduced due to being charged off in accordance with the Credit and Collection
Policy during the related Collection Period, minus (z) the aggregate amount of Monthly Recoveries collected during the related Collection Period and (II) the Adjusted Loan Principal Balance of all Loans in the Trust Estate as of the
close of business on the day immediately prior to the commencement of such Collection Period, times (ii) twelve (12). 

“Monthly Recoveries” shall mean, without duplication, with respect to any Loan, any amounts (up to the aggregate principal
balance of such Loan that has been charged off in accordance with the Credit and Collection Policy) actually collected that, in accordance with the Credit and Collection Policy in effect at the time of such collection, constitute recoveries of
amounts that were previously charged off with respect to such Loan. 
 “Monthly Servicer Report” shall mean, with respect
to each Payment Date, the certificate of the Servicer delivered pursuant to Section 3.06 of this Agreement with respect to such Payment Date, in the form attached as Exhibit C to the Indenture. 

“Moody’s” shall mean Moody’s Investors Service, Inc. 

“Non-Authoritative Copy” shall have the meaning specified in the Electronic
Collateral Control Agreement. 
 “North Carolina Loans” shall mean North Carolina Receivables as defined in the North
Carolina Trust Agreement. 
 “North Carolina Trust” shall mean Regional Management North Carolina Receivables Trust, a
Delaware statutory trust. 
 “North Carolina Trust Agreement” shall mean the Second Amended and Restated Trust Agreement,
dated as of June 28, 2018, by and between Regional North Carolina, as settlor and initial beneficiary and Wilmington Trust, National Association, as UTI trustee, Delaware trustee and Administrative Trustee. 

“North Carolina Trust Assets” shall have the meaning specified in the North Carolina Trust Agreement. 

“North Carolina Trustees” shall mean Wilmington Trust, National Association, a national banking association, acting as the
“UTI Trustee,” the “Delaware Trustee,” the “Administrative Trustee,” and the “2020-1A SUBI Trustee,” in such capacities with respect to the North Carolina Trust. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 22 

 “Nortridge Loan System” means a third-party technology platform on which
the Regional Management Entities’ underwriting, servicing and collection activity are logged and maintained and which is integrated into such entities’ information technology infrastructure. 

“Note Account” shall mean the Collection Account, the Principal Distribution Account or the Reserve Account, as applicable.

 “Note Purchase Agreement” shall mean that certain Note Purchase Agreement, dated September 15, 2020 among the
Depositor, Regional Management, the Issuer and Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC, as the Initial Purchasers. 

“Note Register” shall mean the register maintained pursuant to Section 2.05(a) of the Indenture in which the Notes are
registered. 
 “Note Registrar” shall have the meaning specified in Section 2.05(a) of the Indenture. 

“Noteholder” or “Holder” shall mean the Person in whose name a Note is registered in the Note Register, or
such other Person deemed to be a “Noteholder” or “Holder” pursuant to the Indenture. 
 “Noteholder FATCA
Information” means properly completed and signed tax certifications (generally, in the case of U.S. federal income tax, IRS Form W-9 (or applicable successor form) in the case of a payee that is
“United States person” within the meaning of Section 7701(a)(30) of the Internal Revenue Code or the appropriate IRS Form W-8 (or applicable successor form) in the case of a payee that is not a
“United States person” within the meaning of Section 7701(a)(30) of the Internal Revenue Code) or any other tax documentation which the Issuer or the Indenture Trustee may reasonably request. 

“Noteholder Redemption Notice” shall have the meaning specified in Section 8.08(c) of the Indenture. 

“Notes” shall mean the Class A Notes, the Class B Notes, the Class C Notes or the Class D Notes issued by
the Issuer pursuant to the Indenture. 
 “NRSROs” shall mean nationally recognized statistical rating organizations. 

“NYUCC” shall mean the UCC as in effect in the State of New York. 

“Officer’s Certificate” shall mean, except to the extent otherwise specified, a certificate signed by an Authorized
Officer of the Issuer, the Depositor, the Servicer, the Seller or the Indenture Trustee, as applicable. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 23 

 “Omnibus Distribution and Assignment Agreement” shall mean that Omnibus
Distribution and Assignment Agreement, dated as of the Closing Date, by and among the Regional Originators, as assignors, and Regional Management, as assignee. 

“Opinion of Counsel” shall mean a written opinion of counsel, who may be counsel for, or an employee of, the Person providing
the opinion and who shall be reasonably acceptable to the Person to whom the opinion is to be provided; provided, however, that any Tax Opinion or other opinion relating to U.S. federal income tax matters shall be an opinion of
nationally recognized tax counsel experienced in the matters to which such Tax Opinion relates. 
 “Optional Call” shall
have the meaning specified in Section 8.08(b) of the Indenture. 
 “Optional Call Amount” shall have the meaning
specified in Section 8.08(b) of the Indenture. 
 “Optional Purchase” shall have the meaning specified in
Section 2.09(a) of this Agreement. 
 “Original Loan Principal Balance” shall mean, with respect to any Loan, the
outstanding principal balance of such Loan, or if such Loan is a Precompute Loan, the principal balance of such Precompute Loan calculated in accordance with the definition of “Loan Principal Balance,” in each case as of the related Cut-Off Date with respect to such Loans. 
 “Other SUBI” shall have the meaning set forth
in the 2020-1A SUBI Supplement. 
 “Other SUBI Assets” shall have the meaning
specified in Section 10.17 of this Agreement. 
 “Other Warehouse Purchase Agreement” shall mean each purchase
agreement entered into after the Closing Date between Regional Management and one or more borrowers under one or more warehouse facilities, which borrowers are wholly-owned special purpose subsidiaries of Regional Management, for the purpose of
transferring Loans directly or indirectly to the Issuer. 
 “Outstanding” shall mean, as of any date of determination, all
Notes previously authenticated and delivered under the Indenture except: 
 (a) Notes previously cancelled by the Indenture
Trustee or delivered to the Indenture Trustee for cancellation; 
 (b) Notes for whose payment or redemption money in the
necessary amount has been previously deposited with the Indenture Trustee for the holders of such Notes; provided, that if such Notes are to be redeemed, any required notice of such redemption pursuant to the Indenture or provision for such
notice satisfactory to the Indenture Trustee has been made; and 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 24 

 (c) Notes that have been paid under Section 2.06 of the Indenture or in
exchange for or in lieu of which other Notes have been authenticated and delivered under the Indenture, other than any such Notes for which there shall have been presented to the Indenture Trustee proof satisfactory to it that such Notes are held by
a protected purchaser; 
 provided, however, that in determining whether the Holders of the requisite principal amount of the Outstanding
Notes have given any request, demand, authorization, direction, notice, consent or waiver under the Indenture, Notes owned by the Issuer, any other obligor upon the Notes, the Depositor, the Servicer or the Seller or any Affiliate thereof shall be
disregarded and considered not to be Outstanding, except that, in determining whether the Indenture Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Notes that a
Responsible Officer of the Indenture Trustee, as the case may be, has actual knowledge of being so owned shall be so disregarded. Notes so owned that have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the
satisfaction of the Indenture Trustee the pledgee’s right so to act for such Notes and that the pledgee is not the Issuer, any other obligor upon the Notes, the Depositor, the Servicer, or the Seller or any Affiliate thereof. In making any such
determination, the Indenture Trustee may rely on the representations of the pledgee and shall not be required to undertake any independent investigation. 

“Outstanding Securitizations” shall mean the 2018-2 Securitization and the 2019-1 Securitization. 
 “Overcollateralization Event” shall mean, for any Loan Action
Date, after giving effect to all Loan Actions to be taken on such Loan Action Date and all payments and distributions to be made in accordance with Section 8.06 of the Indenture and all principal payments to be made on the Notes, in each
case, on the Payment Date that occurs on such Loan Action Date, (a) the Loan Action Date Aggregate Principal Balance minus the Required Overcollateralization Amount is less than (b) the Aggregate Note Balance minus the
amounts on deposit in the Principal Distribution Account. 
 “Ownership Interest” shall have the meaning specified in
Section 10.01 of the Trust Agreement. 
 “Owner of Record” shall mean the owner of an Authoritative Copy (in the case
of an Electronic Contract that constitutes Electronic Chattel Paper) or an electronically authenticated original record of an executed Contract (in the case of an Electronic Contract that does not constitute Electronic Chattel Paper), which, within
the Electronic Vault System, is the Issuer, with respect to all Loans that are not North Carolina Loans, and is the North Carolina Trust, with respect to all North Carolina Loans. 

“Owner Trustee” shall mean Wilmington Trust, National Association, not in its individual capacity but solely in its capacity
as owner trustee under the Trust Agreement, its successors in interest and any successor owner trustee under the Trust Agreement. 

“Owner Trust Estate” shall have the meaning specified in Section 2.01 of the Trust Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 25 

 “Participant” shall mean a broker, dealer, bank, other financial
institution or other Person for whom from time to time DTC effects book-entry transfers and pledges of securities deposited with DTC. 

“Payment Date” shall mean the fifteenth (15th) day of each calendar month, or if such 15th day is not a Business Day, the next succeeding Business Day, beginning on October 15, 2020. 

“Periodic Filing” shall mean any filing or submission that the Trust is required to make with any federal, state or local
authority or regulatory agency. 
 “Permanent Regulation S Global Note” shall have the meaning specified in
Section 2.05(b) of the Indenture. 
 “Permitted Assignee” shall mean any Person who, if it were to purchase Loans in
connection with a sale under Sections 5.05 and 5.17 of the Indenture, would not cause the Issuer to be taxable as a publicly traded partnership for federal income tax purposes. 

“Permitted Lien” shall mean (a) Liens for taxes not delinquent or for taxes being contested in good faith and by
appropriate proceedings, and with respect to which adequate reserves have been established, and are being maintained, in accordance with generally accepted accounting principles promulgated or adopted by the Financial Accounting Standards Board and
its predecessors and successors from time to time, (b) mechanics’, materialmen’s, landlords’, warehousemen’s, garagemen’s and carriers’ Liens, and other like Liens imposed by law, securing obligations arising in
the ordinary course of business, (c) motor vehicle accident liens and towing and storage liens, (d) any Lien created by the Purchase Agreement, the Omnibus Distribution and Assignment Agreement or any Other Warehouse Purchase Agreement in
favor of the Seller, (e) any Lien created by the Loan Purchase Agreement in favor of the Depositor, (f) any Lien created by the Sale and Servicing Agreement in favor of the Issuer, (g) any Lien created by the 2020-1A Security Agreement in favor of the Indenture Trustee and (h) any Lien created by the Indenture for the benefit of the Indenture Trustee on behalf of the Noteholders. 

“Permitted Reassignment” shall mean with respect to (i) any reassignment by the Issuer to the Depositor, (ii) any
reassignment by the Depositor to the Seller or (iii) any reallocation from the 2020-1A SUBI to the UTI or an Other SUBI held by the Initial Beneficiary or the Seller or any other sale of a 2020-1A SUBI Loan from the 2020-1A SUBI to the Initial Beneficiary or the Seller, so long as, after giving effect to such reassignment or reallocation, as applicable, and all
other Loan Actions to be taken such Loan Action Date, the aggregate of the Loan Principal Balances of all Reassigned Loans measured as of the Loan Action Date on which such Loans became Reassigned Loans for such Loan Action Date and the preceding
eleven (11) consecutive Collection Periods (or, if shorter, the most recently ended period of consecutive Collection Periods since the Closing Date), in each case, measured as of the end of the most recently ended Collection Period prior to
such Loan being reassigned (or in the case of the 2020-1A SUBI Loans, reallocated from the 2020-1A SUBI)) will not exceed 10.0% of the aggregate Loan Principal Balance
as of the Initial Cut-Off Date. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 26 

 “Permitted Securitization” shall mean any personal loan securitization
transaction (other than the personal loan securitization transaction evidenced by the Transaction Documents) pursuant to which the Depositor (i) acts as depositor, (ii) acquires personal loans from the Seller or Affiliates of Regional
Management, (iii) enters solely into Permitted Securitization Transaction Documents and (iv) with respect to which Opinions of Counsel relating to the “true sale” of such personal loans and the “substantive
consolidation” of the Depositor are delivered. 
 “Permitted Securitization Transaction Documents” shall mean, as the
context may require, the Transaction Documents and/or, with respect to any personal loan securitization for which the Depositor is acting as depositor, (other than the personal loan securitization transaction evidenced by the Transaction Documents),
transaction documents that are substantially the same as the Transaction Documents except for the terms of the securities being issued by the relevant securitization trust (such as the amount and type of securities, eligible pool criteria, events of
default, early amortization events, maturity and amortization dates, the length of any applicable revolving period, interest rates and fees, the priority of payment and other economic terms of such securities). 

“Permitted Transferee” is defined in Section 10.02 of the Trust Agreement. 

“Permitted Trust Investments” shall mean any of the following investments: 

(a) Marketable securities issued by the U.S. Government and supported by the full faith and credit of the U.S. Treasury, either
by statute or an opinion of the Attorney General of the United States; 
 (b) Directly or fully guaranteed obligations of the
U.S. Treasury, the Government National Mortgage Association guaranteed mortgage-back securities, the consolidated debt obligations of the Federal Home Loan Banks, debt obligations of Federal Home Loan Mortgage Corp., and debt obligations of Federal
National Mortgage Association; 
 (c) Certificates of deposit, time deposits, and bankers’ acceptances of any bank or
trust company incorporated under the laws of the United States or any state, provided that, at the date of acquisition, such investment, and/or the commercial paper or other short term debt obligation of such bank or trust company has a
short-term credit rating or ratings from Moody’s and/or S&P, each at least P-1 or A-1; 

(d) Deposit accounts with any bank that are insured by the Federal Deposit Insurance Corporation and whose long-term
obligations are rated A2 or better by Moody’s and/or A or better by S&P; 
 (e) Commercial paper of any corporation
incorporated under the laws of the United States or any state thereof which on the date of acquisition is rated by Moody’s and/or S&P, provided each such credit rating is least P-1 and/or A-1; 
 (f) Money market mutual funds that are registered with the Securities and Exchange
Commission under the Investment Company Act of 1940, as amended, and operated in accordance with Rule 2a-7 and that at the time of such investment are rated Aaa by Moody’s and/or AAAm by S&P,
including such funds for which the Owner Trustee or an affiliate provides investment advice or other services; 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 27 

 (g) Tax-exempt variable rate
commercial paper, tax-exempt adjustable rate option tender bonds, and other tax-exempt bonds or notes issued by municipalities in the United States, having a short-term
rating of “MIG-1” or “VMIG-1” or a long term rating of “Aa” (Moody’s), or a short-term rating of
“A-1” or a long term rating of “AA” (S&P); 
 (h) Repurchase
obligations with a term of not more than thirty (30) days, 102% collateralized, for underlying securities of the types described in clauses (a) and (b) above, entered into with any bank or trust company or its respective affiliate meeting
the requirements specified in clause (c) above; and 
 (i) Maturities on the above securities shall not exceed 365 days
and all rating requirements and/or percentage restrictions are based on the time of purchase. 
 “Person” shall mean any
legal person, including any individual, corporation, limited liability company, partnership, joint venture, association, joint-stock company, trust, unincorporated organization, governmental entity or other entity of any nature. 

“PPM” shall have the meaning specified in Section 9.01(a)(i) of the Indenture. 

“Precompute Loan” shall mean any Loan reflected as a “precompute loan” on the records of the Servicer or the
applicable Subservicer. 
 “Principal Distribution Account” shall have the meaning specified in Section 8.02(a)(ii) of
the Indenture. 
 “Proceeding” shall mean any suit in equity, action at law or other judicial or administrative proceeding.

 “Purchase Agreement” shall mean the Purchase Agreement, dated as of the Closing Date, between Regional Management and
the Warehouse Borrower. 
 “Purchase Price” shall have the meaning specified in Section 3.01(a) of the Loan Purchase
Agreement. 
 “Purchased Assets” shall have the meaning specified in Section 2.01(a) of the Loan Purchase Agreement.

 “QIB” shall mean a “qualified institutional buyer” as defined in Rule 144A. 

“Rating Agency” shall mean DBRS Morningstar or S&P, and “Rating Agencies” shall mean DBRS Morningstar
and S&P, collectively. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 28 

 “Rating Agency Notice Requirement” shall mean, with respect to any action
subject to such condition, (i) the notification in writing by each Rating Agency then rating any Outstanding Class of Notes (which notification may be in the form of e-mail, facsimile, press release,
posting to its website or other such means then considered industry standard as determined by the applicable Rating Agency) that a proposed action will not result in a reduction or withdrawal by such Rating Agency of the then-current rating of such
Class, or (ii) if a Rating Agency then rating any Outstanding Class of Notes has informed the Issuer that such Rating Agency does not provide such written notifications for actions of the type being proposed, then as to such Rating Agency
the Issuer shall deliver written (which may include e-mail) notice of the proposed action to such Rating Agency or Rating Agencies at least ten (10) Business Days prior to the effective date of such
action (or such shorter notice period if specified in the Indenture with respect to any specific action, or if ten (10) Business Days prior notice is impractical, such advance notice as is practicable). 

“Reassigned Loan” shall have the meaning specified in Section 8.07(v) of the Indenture. 

“Reassignment Date” shall have the meaning specified in Section 2.10(b)(i) of this Agreement. 

“Reassignment Price” shall mean, with respect to any Reassigned Loan, an amount equal to the greater of (a) the fair
market value of such Reassigned Loan, which shall be determined as of the close of business on the day prior to the related Loan Action Date on which such reassignment is to occur, or (b) the outstanding principal amount of such Reassigned Loan
together with all accrued and unpaid interest thereon to, but excluding, the related Loan Action Date on which such reassignment is to occur. 

“Recharacterized Notes” shall have the meaning specified in Section 3.14(b) of the Indenture. 

“Record Date” shall mean, with respect to any Payment Date, the last Business Day of the calendar month immediately preceding
the calendar month during which such Payment Date occurs; provided, that the first Record Date shall be the Closing Date. 

“Records” shall mean, with respect to any Contract, all documents, books, records and other information (including computer
programs, tapes, disks, punch cards, data processing software and related property and rights) maintained with respect to any related item of the Purchased Assets, Sold Assets or 2020-1A SUBI Assets, as
applicable, and the related Loan Obligor. 
 “Redeeming Party” shall have the meaning specified in Section 8.08(c) of
the Indenture. 
 “Redeeming Party Notice” shall have the meaning specified in Section 8.08(c) of the Indenture. 

“Redemption Date” shall have the meaning specified in Section 8.08(c) of the Indenture. 

“Redemption Price” shall have the meaning specified in Section 8.08(a) of the Indenture. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 29 

 “Regional” shall mean Regional Management, together with the Regional
Originators. 
 “Regional Management” shall mean Regional Management Corp., a Delaware corporation. 

“Regional Management Entities” shall mean Regional Management, the Issuer and the Regional Originators. 

“Regional North Carolina” shall mean Regional Finance Corporation of North Carolina, a North Carolina corporation. 

“Regional Originators” shall mean Regional Finance Corporation of Alabama, an Alabama corporation, Regional Finance Company
of Georgia, LLC, a Delaware limited liability company, Regional Finance Company of Missouri, LLC, a Delaware limited liability company, Regional Finance Company of New Mexico, LLC, a Delaware limited liability company, Regional Finance Corporation
of North Carolina, a North Carolina corporation, Regional Finance Company of Oklahoma, LLC, a Delaware limited liability company, Regional Finance Corporation of South Carolina, a South Carolina corporation, Regional Finance Corporation of
Tennessee, a Tennessee corporation, Regional Finance Corporation of Texas, a Texas corporation, Regional Finance Company of Virginia, LLC, a Delaware limited liability company, Regional Finance Corporation of Wisconsin, a Wisconsin corporation, and
any additional Regional Affiliate that may originate Loans from the time after the Closing Date and prior to the end of the Revolving Period. From time to time after the Closing Date, prior to the end of the Revolving Period, additional Affiliates
of Regional Management may become “Regional Originators” provided that the Rating Agency Notice Requirement is satisfied. 

“Regional Party” or “Regional Parties” shall have the meaning specified in Section 8.03 of this
Agreement. 
 “Regular Principal Payment Amount” shall mean, with respect to any Payment Date, an amount equal to the
excess (if any) of (a) the Aggregate Note Balance as of the end of the related Collection Period minus the amount on deposit in the Principal Distribution Account (after giving effect to any allocations on such Payment Date to the
Principal Distribution Account pursuant to Sections 8.06(a)(v), (vii), (ix) and (xi) of the Indenture) over (b) (i) the Adjusted Loan Principal Balance as of the end of the related Collection Period minus (ii) the Required
Overcollateralization Amount. 
 “Regulation RR” shall mean the SEC’s credit risk retention rules, 17 C.F.R. Part 246.

 “Regulation S” shall mean Regulation S promulgated under the Securities Act. 

“Regulation S Definitive Note” shall have the meaning specified in Section 2.05(b) of the Indenture. 

“Regulation S Global Note” shall have the meaning specified in Section 2.05(b) of the Indenture. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 30 

 “Reinvestment Criteria Event” shall mean, for any Loan Action Date, the
existence of any of the following, as determined based on the Loan Principal Balance and other characteristics of each Loan in the applicable Loan Action Date Loan Pool as of the end of the Collection Period relating to such Loan Action Date: 

(a) the aggregate Loan Action Date Loan Principal Balance of (i) all Single State Originated Loans in the Loan Action Date Loan Pool for
the Top Three States for such Loan Action Date shall exceed 80.0% of the Loan Action Date Aggregate Principal Balance or (ii) all Single State Originated Loans in the Loan Action Date Loan Pool for any single State shall exceed 35.0% of the
Loan Action Date Aggregate Principal Balance; 
 (b) the aggregate Loan Action Date Loan Principal Balance of all Single State Originated
Loans in the Loan Action Date Loan Pool for any single State (other than any Top Three State for such Loan Action Date) shall exceed 15.0% of the Loan Action Date Aggregate Principal Balance; 

(c) the Weighted Average Coupon for such Loan Action Date shall be less than 25.0%; 

(d) the Weighted Average Loan Remaining Term for such Loan Action Date shall exceed 46 months; 

(e) the aggregate Loan Action Date Loan Principal Balance of all Loans in the Loan Action Date Loan Pool that had an original term of greater
than 60 months shall exceed 2.5% of the Loan Action Date Aggregate Principal Balance; 
 (f) the aggregate Loan Action Date Loan Principal
Balance of all Loans in the Loan Action Date Loan Pool that have received a payment deferment during the Collection Period relating to such Loan Action Date shall exceed 10.0% of the Loan Action Date Aggregate Principal Balance; 

(g) the aggregate Loan Action Date Loan Principal Balance of all Loans in the Loan Action Date Loan Pool, the Loan Obligors of which have a
FICO® score at the time of origination within any “FICO® Score Range” listed below, shall exceed the percentage of the Loan
Action Date Aggregate Principal Balance set forth in the table below opposite such “FICO® Score Range”; 
  

					
	 FICO® Score
Range
	  	Percentage	 
	 Less than 541
	  	 	7.0	% 
	 Less than 581
	  	 	18.0	% 
	 Less than 621
	  	 	50.0	% 
	 Less than 661
	  	 	85.0	% 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 31 

 (h) the aggregate Loan Action Date Loan Principal Balance of all Unsecured Loans in the Loan
Action Date Loan Pool shall exceed 3.0% of the Loan Action Date Aggregate Principal Balance; and 
 (i) an Overcollateralization Event
exists. 
 “Related Collateral” shall have the meaning specified in Section 2 of the
2020-1A Security Agreement. 
 “Related Loan Assets” shall mean (i) with
respect to a Loan (other than a 2020-1A SUBI Loan), the Purchased Assets related to such Loan and (ii) with respect to a 2020-1A SUBI Loan, the Trust Assets related
to such 2020-1A SUBI Loan, in each case, including any proceeds of the foregoing. 

“Renewal” shall mean, with respect to any Loan in the Trust Estate, a transaction in which a new non-revolving personal loan originated pursuant to a Contract is entered into between a Regional Originator and a Loan Obligor, which new non-revolving personal loan
(x) is originated in accordance with Regional’s renewal underwriting criteria as set forth in its Credit and Collection Policy, (y) refinances such Loan in full or in part and (z) may also extend additional financing to such Loan
Obligor. 
 “Renewal Loan” shall mean the new non-revolving personal loan entered
into between the applicable Regional Originator and the Loan Obligor pursuant to any Renewal. 
 “Repurchase Price” shall
mean an amount equal to the Purchase Price paid for such Loan (or in the case of a 2020-1A SUBI Loan, the amount paid in consideration for the allocation of such Loan to the
2020-1A SUBI) as of the Closing Date or the related Addition Date, as applicable, less any Collections representing payment of principal received by the Issuer since the date of the purchase of such Loan (or
in the case of a 2020-1A SUBI Loan, allocation to the 2020-1A SUBI), plus any
out-of-pocket costs incurred by the Servicer, the Depositor or the Issuer, as applicable, in connection with such repurchase or reallocation. 

“Required Noteholders” shall mean, at any time, the Holders of Notes evidencing more than 50% of the Outstanding Notes. 

“Required Overcollateralization Amount” shall mean $7,500,000. 

“Requirements of Law” shall mean, for any Person, (a) any certificate of incorporation, certificate of formation,
articles of association, bylaws, limited liability company agreement, or other organizational or governing documents of that Person and (b) any law, treaty, statute, regulation, or rule, or any determination by a Governmental Authority or
arbitrator, that is applicable to or binding on that Person or to which that Person is subject. This term includes usury laws, the Truth in Lending Act, and Regulation Z and Regulation B of the Board of Governors of the Federal Reserve System. 

“Reserve Account” shall have the meaning specified in Section 8.02(a)(iii) of the Indenture. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 32 

 “Reserve Account Draw Amount” shall have the meaning specified in
Section 8.02(a)(iii) of the Indenture. 
 “Reserve Account Required Amount” shall mean, with respect to the Closing
Date and any Payment Date, an amount equal to $1,875,000.00. 
 “Responsible Officer” shall mean, (a) with respect to
the Indenture Trustee, the Back-up Servicer, the Image File Custodian or the Owner Trustee, any officer within the Corporate Trust Office of such Person, as applicable, as the case may be, including any Vice
President, Assistant Vice President, Assistant Treasurer, Assistant Secretary, or any other officer of such Person, as applicable, customarily performing functions similar to those performed by any of the above designated officers, and also, with
respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject, in each case having direct responsibility for the administration of the
Indenture and the other Transaction Documents on behalf of such Person, as applicable, and (b) with respect to any of Regional Management, the Issuer or the Regional Originators, with respect to a particular matter, any officer to whom such
matter is referred because of such officer’s knowledge of and familiarity with the particular subject, in each case having direct responsibility for the administration of the Transaction Documents on behalf of such Person. 

“Revolving Loan” shall mean any personal loan which (a) is reflected as a “revolving loan” on the records of
the Servicer or the applicable Subservicer and (b) arises under an account pursuant to which an obligor may request future advances or draws pursuant to the applicable loan agreement. 

“Revolving Period” shall mean the period beginning at the close of business on the Closing Date and ending on the close of
business on the earlier of (a) the Revolving Period Termination Date and (b) the close of business on the Business Day immediately preceding the day on which an Early Amortization Event or an Event of Default is deemed to have occurred;
provided, that the Revolving Period shall be reinstated upon the occurrence of either of the following: (x)(i) the Revolving Period terminated due to the occurrence of an Early Amortization Event under Section 5.01(a) of the
Indenture, and such Early Amortization Event shall have been cured as of three (3) consecutive Loan Action Dates and (ii) no other event that would have caused the Revolving Period to terminate shall have occurred on or prior to, and be
continuing as of, such reinstatement; or (y)(i) the Revolving Period terminated due to the occurrence of an Early Amortization Event under Section 5.01(b) of the Indenture, and there subsequently occurs a Loan Action Date with respect to
which no Reinvestment Criteria Event exists and (ii) no other event that would have caused the Revolving Period to terminate shall have occurred on or prior to, and be continuing as of, such reinstatement; provided, further that,
in the event that the Revolving Period is reinstated on any Loan Action Date, such reinstatement shall be given effect for purposes of determining any distributions and allocations to occur on the Payment Date following such Loan Action Date
pursuant to Section 8.06 and Section 8.07 of the Indenture. For purposes of this definition, “cured” shall mean that the circumstances that would constitute an Early Amortization Event do not exist. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 33 

 “Revolving Period Termination Date” shall mean the close of business on
September 30, 2023; provided, that, the Revolving Period may terminate earlier than such date as a result of an Early Amortization Event or an Event of Default. 

“Rule 144A” shall mean Rule 144A promulgated under the Securities Act. 

“Rule 144A Definitive Note” shall have the meaning specified in Section 2.05(b) of the Indenture. 

“Rule 144A Global Note” shall have the meaning specified in Section 2.05(b) of the Indenture. 

“Rule 15Ga-1 Information” shall have the meaning specified in Section 6.14(c) of
the Indenture. 
 “S&P” shall mean Standard & Poor’s Rating Services, a Standard & Poor’s
Financial Services LLC business, and its successors.  
 “Sale and Servicing Agreement” shall mean the Sale and
Servicing Agreement, dated as of the Closing Date, among the Depositor, the Servicer, the Subservicers, the Issuer, and the North Carolina Trust. 

“SEC” shall mean the United States Securities and Exchange Commission. 

“Second Priority Principal Payment” shall mean, with respect to any Payment Date, (a) at any time prior to the
occurrence of an Event of Default, an amount equal to the excess (if any) of (i) the sum of (A) the Class A Note Balance as of the end of the related Collection Period plus (B) the Class B Note Balance as of the end
of the related Collection Period minus the amount on deposit in the Principal Distribution Account (after giving effect to any allocations to the Principal Distribution Account pursuant to Section 8.06(a)(v) of the Indenture) over
(ii) the Adjusted Loan Principal Balance as of the end of the related Collection Period and (b) at any time from and after the occurrence of an Event of Default or on or after the Stated Maturity Date in respect of the Class B Notes,
the sum of the Class A Note Balance and the Class B Note Balance minus the amount on deposit in the Principal Distribution Account (after giving effect to any allocations to the Principal Distribution Account pursuant to
Section 8.06(a)(v) of the Indenture). 
 “Securities Act” shall mean the Securities Act of 1933, as amended. 

“Seller” shall mean Regional Management. 

“Servicer” shall mean (a) initially Regional Management, in its capacity as Servicer pursuant to the Sale and Servicing
Agreement and the 2020-1A SUBI Servicing Agreement and any Person that becomes the successor thereto pursuant to the Sale and Servicing Agreement, and (b) after any Servicing Transfer Date, the Successor
Servicer. 
 “Servicer Default” shall have the meaning specified in Section 8.01 of this Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 34 

 “Servicer File” shall mean, with respect to a Loan, each of the following
documents: (i) application of the Loan Obligor for credit; (ii) a copy (but not the original) of the Contract and any amendments or modifications thereto; provided, however, if such documents constitute Electronic Contracts, originals or
copies thereof may be accessible via the Electronic Vault System or via the Nortridge Loan System; and (iii) such other documents as the Servicer customarily retains in its files in order to accomplish its duties under this Agreement; provided,
that in each case such documents may be in either tangible or electronic form. 
 “Servicing Assumption Date” shall have
the meaning specified in Section 1.1 of the Back-up Servicing Agreement. 
 “Servicing
Centralization Period” shall have the meaning specified in Section 1.1 of the Back-up Servicing Agreement. 

“Servicing Fee” shall have the meaning specified in Section 3.02 of this Agreement. 

“Servicing Transfer” shall have the meaning specified in Section 8.01 of this Agreement. 

“Servicing Transfer Date” shall mean the date on which a Successor Servicer has assumed all of the duties and obligations of
the Servicer under the Sale and Servicing Agreement and the 2020-1A SUBI Servicing Agreement (other than in the case of the Back-up Servicer, any such duty or obligation
that it is not required to assume under the terms of the Back-up Servicing Agreement, the Sale and Servicing Agreement or the 2020-1A SUBI Servicing Agreement, as
applicable) after the resignation or termination of the Servicer. 
 “Servicing Transfer Notice” shall mean a written
notice substantially in the applicable form attached to the Back-up Servicing Agreement from the Indenture Trustee to the Back-up Servicer.  

“Servicing Transition Costs” shall have the meaning specified in Section 1.1 of the
Back-up Servicing Agreement. 
 “Servicing Transition Period” shall have the
meaning specified in Section 1.1 of the Back-up Servicing Agreement. 
 “Similar
Law” shall mean any non-U.S., federal, state or local law that is substantially similar to Section 406 of ERISA or Section 4975 of the Internal Revenue Code. 

“Single State Originated Loans” shall mean, with respect to any State and for any Loan Action Date, all of the Loans in the
Loan Action Date Loan Pool with respect to such Loan Action Date that were originated by any branch within such State. 
 “Soft
Secured Loan” shall mean a Loan that is, as of the date of the origination thereof, secured by untitled assets, including but not limited to, personal property, such as furniture, electronic equipment or other household goods, subject to
limitations imposed by applicable law on the taking of non-purchase money security interests in such items. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 35 

 “Sold Assets” shall have the meaning specified in Section 2.01(a) of
this Agreement. 
 “State” shall mean any of the fifty (50) states in the United States of America or the District of
Columbia. 
 “Stated Maturity Date” shall mean, with respect to each Class of Notes, October 15, 2030. 

“SUBI” shall mean special unit of beneficial interest. 

“SUBI Certificate Purchase Agreement” shall mean the SUBI Certificate Purchase Agreement, dated as of the date hereof, by and
between Regional North Carolina and the Seller. 
 “Subservicer” shall mean (a) prior to any Servicing Transfer Date,
each subservicer identified in Schedule I of the Sale and Servicing Agreement, in its capacity as a Subservicer pursuant to the Sale and Servicing Agreement, any person that becomes an Additional Subservicer pursuant to Section 10.19 of this
Agreement and any Person that becomes the successor thereto under Section 6.02 of this Agreement as a “Subservicer” after the Closing Date and any assignee thereof pursuant to Section 6.05 of this Agreement, and (b) after
any Servicing Transfer Date, any subservicers appointed by the Successor Servicer, which may include some or all of the subservicers referred to in the foregoing clause (a). 

“Successor Servicer” shall mean the successor servicer appointed in accordance with Section 8.02 of this Agreement. 

“System Description” shall mean the written description of the Electronic Vault System, attached hereto as Exhibit H.

 “Tax Opinion” shall mean, with respect to any action, an Opinion of Counsel to the effect that, for U.S. federal income
tax purposes, (a) such action will not adversely affect the tax characterization as debt of any Note of any Outstanding Class with respect to which an Opinion of Counsel was delivered at the time of its original issuance as to the
characterization of such Note as debt for U.S. federal income tax purposes (it being understood that any such Opinion of Counsel shall not be required to provide any greater level of assurance regarding the tax characterization of any Class of
Notes than was provided in the original Opinion of Counsel with respect to such Class), (b) such action will not cause or constitute an event in which gain or loss would be recognized by the Holder of any Class of Notes with respect to which an
Opinion of Counsel was delivered at the time of original issuance to the effect that such Notes would be characterized as debt for U.S. federal income tax purposes (it being understood that no such Opinion of Counsel shall be required with respect
to Notes as to which no Opinion of Counsel for U.S. federal income tax purposes was delivered), and (c) such action will not cause the Issuer to be classified as an association (or publicly traded partnership) taxable as a corporation. 

“Temporary Regulation S Global Note” shall have the meaning specified in Section 2.05(b) of the Indenture. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 36 

 “Term Loan” shall mean that certain secured amortizing term loan financing
of Regional Management. 
 “Term Loan Borrower” shall mean Regional Management Receivables, LLC, a Delaware limited
liability company, and a wholly-owned special purpose subsidiary of Regional Management. 
 “Termination Notice” shall have
the meaning specified in Section 8.01 of this Agreement. 
 “Third Party Allocation Agent” shall mean the pre-approved third party allocation agent pursuant to the Intercreditor Agreement, which as of the Closing Date is Wells Fargo. 

“Third Priority Principal Payment” shall mean, with respect to any Payment Date, (a) at any time prior to the occurrence
of an Event of Default, an amount equal to the excess (if any) of (i) the sum of (A) the Class A Note Balance as of the end of the related Collection Period plus (B) the Class B Note Balance as of the end of the
related Collection Period plus (C) the Class C Note Balance as of the end of the related Collection Period minus the amount on deposit in the Principal Distribution Account (after giving effect to any allocations to the
Principal Distribution Account pursuant to Sections 8.06(a)(v) and (vii) of the Indenture) over (ii) the Adjusted Loan Principal Balance as of the end of the related Collection Period and (b) at any time from and after the occurrence
of an Event of Default or on or after the Stated Maturity Date in respect of the Class C Notes, the sum of the Class A Note Balance, the Class B Note Balance and the Class C Note Balance minus the amount on deposit in the
Principal Distribution Account (after giving effect to any allocations to the Principal Distribution Account pursuant to Sections 8.06(a)(v) and (vii) of the Indenture). 

“Threshold Noteholders” shall mean, at any time, the Holders of Notes evidencing more than 25% of the Outstanding Notes. 

“Titled Asset” shall mean a motor vehicle, boat, motorcycle, all-terrain vehicle or
other asset for which, under applicable State law, a certificate of title is issued and any security interest therein is required to be perfected by notation on such certificate of title or recorded with the relevant Governmental Authority that
issued such certificate of title. 
 “Top Three States” shall mean, for any Loan Action Date, the three States that have
the highest concentrations of Single State Originated Loans in the Loan Action Date Loan Pool with respect to such Loan Action Date. 

“Transaction Documents” shall mean the Certificate of Trust; the Trust Agreement; the Note Purchase Agreement; the SUBI
Certificate Purchase Agreement; the Purchase Agreement; the Omnibus Distribution and Assignment Agreement; any Other Warehouse Purchase Agreement; the Loan Purchase Agreement; the Sale and Servicing Agreement; the Electronic Vault Services
Agreement; the Electronic Collateral Control Agreement; the Indenture; the Administration Agreement; the Back-up Servicing Agreement; the Intercreditor Agreement; the Intercreditor Security Agreement; the
North Carolina Trust Agreement; the UTI Administration Agreement; the 2020-1A SUBI Servicing Agreement; the 2020-1A SUBI Supplement; the
2020-1A Security Agreement; and such other documents and certificates delivered in connection with the foregoing. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 37 

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

“Trust Assets” shall have the meaning specified in Section 2.1(a) of the North Carolina Trust Agreement. 

“Trust Account” shall mean the account established by the Owner Trustee on behalf of the Trust pursuant to Section 4.04
of the Trust Agreement. 
 “Trust Agreement” shall mean the Amended and Restated Trust Agreement relating to the Issuer,
dated as of the Closing Date, between the Depositor and the Owner Trustee. 
 “Trust Certificate” shall have the meaning
specified in Section 10.01 of the Trust Agreement. 
 “Trust Company” shall mean Wilmington Trust, National
Association or any successor thereto that is acting as Owner Trustee. 
 “Trust Estate” shall have the meaning specified in
the Granting Clause of the Indenture. 
 “UCC” shall mean the Uniform Commercial Code of the applicable jurisdiction. 

“Unsecured Loan” shall mean a Loan that is, as of the date of the origination thereof, not secured. 

“UTI” shall have the meaning specified in the North Carolina Trust Agreement. 

“UTI Administration Agreement” shall mean the UTI Administration Agreement, dated as of June 28, 2018, by and between
Regional North Carolina and Regional Management. 
 “UTI Trustee” shall mean Wilmington Trust, National Association, and
any Person that becomes the successor thereto pursuant to the North Carolina Trust Agreement. 
 “Volcker Rule” shall mean
Section 619 of the Dodd-Frank Act, together with any implementing regulations. 
 “Warehouse Borrower” shall mean
Regional Management Receivables II, LLC. 
 “Warehouse Facility” shall mean the Amended and Restated Credit Agreement,
dated as of October 17, 2019, as amended by the omnibus amendment, dated as of August 18, 2020, by and among the Warehouse Borrower, Regional Management, as servicer, the lenders from time to time thereto, the agents from time to time
thereto, Wells Fargo Bank, National Association, as account bank, image file custodian and back-up servicer, Wells Fargo Bank, National Association, as administrative agent, and Credit Suisse AG, New York
Branch, as structuring and syndication agent. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 38 

 “Weighted Average Coupon” shall mean, with respect to any Loan Action Date,
the weighted average APR of all Loans in the Loan Action Date Loan Pool for such Loan Action Date, determined based upon (i) the Loan Action Date Loan Principal Balance of such Loans and (ii) the APR of such Loans as of the close of
business on the last day of the Collection Period immediately preceding such Loan Action Date (or, if such Loan did not exist as of the last day of such Collection Period, the date on which such Loan was originated). 

“Weighted Average Loan Remaining Term” shall mean, with respect to any Loan Action Date, the weighted average remaining term
to maturity (as set forth in the applicable Contracts) of all Loans in the Loan Action Date Loan Pool for such Loan Action Date, determined based upon (i) the Loan Action Date Loan Principal Balance of such Loans and (ii) the remaining
term to maturity of such Loans as of the close of business on the last day of the Collection Period immediately preceding such Loan Action Date (or, if such Loan did not exist as of the last day of such Collection Period, the date on which such Loan
was originated). 
 “Wells Fargo” shall mean Wells Fargo Bank, National Association, a national banking association, and
its permitted successors and assigns. 
 “WTNA” shall mean Wilmington Trust, National Association. 

“2018-2 Indenture” shall mean the Indenture, dated as of December 13, 2018,
among Regional Management Issuance Trust 2018-2, as issuer, Regional Management, as servicer, Wells Fargo Bank, N.A., as indenture trustee and as account bank. 

“2018-2 Indenture Trustee” shall mean Wells Fargo Bank, N.A., in its capacity as
indenture trustee under the 2018-2 Indenture. 

“2018-2 Issuer” shall mean Regional Management Issuance Trust 2018-2. 
 “2018-2 Securitization” shall mean the
asset-backed securitization transaction in an aggregate principal amount of $130,085,000 consummated by Regional Management as of December 13, 2018. 

“2019-1 Indenture” shall mean the Indenture, dated as of October 31, 2019, among
Regional Management Issuance Trust 2019-1, as issuer, Regional Management, as servicer, Wells Fargo Bank, N.A., as indenture trustee and as account bank. 

“2019-1 Indenture Trustee” shall mean Wells Fargo Bank, N.A., in its capacity as
indenture trustee under the 2019-1 Indenture. 

“2019-1 Issuer” shall mean Regional Management Issuance Trust 2019-1. 
 “2019-1 Securitization” shall mean the
asset-backed securitization transaction in an aggregate principal amount of $130,000,000 consummated by Regional Management as of October 31, 2019. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 39 

 “2020-1A Security Agreement” shall
mean the Security Agreement, dated as of the Closing Date, among the North Carolina Trust, the Issuer, Regional North Carolina and the Indenture Trustee. 

“2020-1A SUBI” shall have the meaning specified in the
2020-1A SUBI Supplement. 
 “2020-1A SUBI
Assets” shall have the meaning specified in the 2020-1A SUBI Supplement. 
 “2020-1A SUBI Certificate” shall have the meaning specified in the 2020-1A SUBI Supplement. 

“2020-1A SUBI Loans” shall have the meaning specified in the 2020-1A SUBI Supplement. 
 “2020-1A SUBI
Servicer” shall have the meaning specified in the 2020-1A SUBI Servicing Agreement. 

“2020-1A SUBI Servicing Agreement” shall mean the
2020-1A SUBI Servicing Agreement, dated as of the Closing Date, among the North Carolina Trust, the Issuer, as 2020-1A SUBI holder, and Regional Management, as 2020-1A SUBI Servicer. 
 “2020-1A SUBI Transferred
Assets” shall have the meaning specified in Section 2.01 of the SUBI Certificate Purchase Agreement. 
 “2020-1A SUBI Supplement” shall mean the 2020-1A SUBI Supplement to the North Carolina Trust Agreement, dated as of the Closing Date, among Regional North Carolina, as
settlor and initial beneficiary, the Issuer, as 2020-1A SUBI beneficiary and 2020-1A SUBI holder, and Wilmington Trust, National Association, as UTI trustee, 2020-1A SUBI trustee and Administrative Trustee. 

“2020-1A SUBI Trustee” shall mean Wilmington Trust, National Association, in its
capacity as 2020-1A SUBI Trustee. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 40 

 Part B – Rules of Construction 

(a) All terms defined in this Appendix or any Transaction Document shall have the defined meanings when used in any certificate or other
document made or delivered pursuant hereto or thereto unless otherwise defined therein. 
 (b) As used in this Appendix or any Transaction
Document, accounting terms that are not defined herein or therein, and accounting terms partly defined herein or therein shall have the respective meanings given to them under generally accepted accounting principles. To the extent that the
definitions of accounting terms in this Appendix or any Transaction Document are inconsistent with the meanings of such terms under generally accepted accounting principles, the definitions contained in this Appendix or such Transaction Document
will control. 
 (c) Any reference in this Appendix or any Transaction Document to “the Rating Agency” shall only apply to any
specific rating agency if such rating agency is then rating any Class of Notes at the request of the Issuer or Depositor and otherwise such references shall have no force or effect; provided, that, in the event that the Depositor, the
Issuer or any representative thereof requested that such rating agency cease rating the Notes, such references shall continue in full force and effect. Any reference in this Appendix or any Transaction Document to a specified rating level from any
rating agency shall mean at least such specified rating and any rating level higher than the rating level specified shall also be deemed to satisfy the referenced rating requirement. 

(d) With respect to any Payment Date or Loan Action Date, (i) the “related Collection Period” shall mean the Collection Period
immediately prior to the Collection Period in which such Payment Date or Loan Action Date occurs and (ii) the “related Monthly Determination Date” shall mean the Monthly Determination Date first preceding such Payment Date, and the
relationships among Collection Periods and Monthly Determination Dates will be correlative to the foregoing relationships. 
 (e) Each
defined term used in this Appendix or any Transaction Document has a comparable meaning when used in its plural or singular form. Each gender-specific term used in this Appendix or any Transaction Document has a comparable meaning whether used in a
masculine, feminine or gender-neutral form. 
 (f) Unless otherwise specified, references in this Appendix or any Transaction Document to any
amount as on deposit or outstanding on any particular date shall mean such amount at the close of business on such day. 
 (g) The words
“hereof”, “herein” and “hereunder” and words of similar import when used in this Appendix or any Transaction Document shall refer to this Appendix or such Transaction Document as a whole and not to
any particular provision or subdivision of this Appendix or such Transaction Document; references to any subsection, Section, Schedule or Exhibit contained in this Appendix or any Transaction Document are references to subsections, Sections,
Schedules and Exhibits in or to this Appendix or such Transaction Document unless otherwise specified; and the term “including” shall mean “including without limitation.” The word “or” when used in this
Appendix or any Transaction Document is not exclusive. Whenever the 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 41 

 
term “including” (whether or not followed by the phrase “but not limited to” or “without limitation” or words of similar effect) is used in this Appendix or any
Transaction Document in connection with a listing of items within a particular classification, that listing will be interpreted to be illustrative only and will not be interpreted as a limitation on, or exclusive listing of, the items within that
classification. 
 (h) Terms used in this Appendix or any Transaction Document herein that are defined in the NYUCC and not otherwise defined
shall have the meanings set forth in the NYUCC unless the context requires otherwise. 
 (i) Any reference in this Appendix or any
Transaction Document to the “Appendix,” this “Appendix,” the “Agreement,” this “Agreement” or words of like import shall be a reference to this Appendix or such Transaction Document as it may be amended,
supplemented or modified from time to time. Any definition of or reference to any agreement, instrument or other document in this Appendix or any Transaction Document shall be construed as referring to such agreement, instrument or other document as
from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth in any Transaction Document). 

(j) Any reference in this Appendix or any Transaction Document to a “beneficial interest” in a security also shall mean a security
entitlement with respect to such security, and any reference herein to a “beneficial owner” or “beneficial holder” of a security also shall mean the holder of a security entitlement with respect to such security. 

(k) Any reference in this Appendix or any Transaction Document to any law shall include all statutory and regulatory provisions consolidating,
amending, replacing or interpreting such law and any reference to any law or regulation shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time. 

(l) Any reference to any Person shall include such Person’s respective permitted successors and assigns. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule II - 42 

 Schedule III 

Perfection Representations, Warranties and Covenants 

In addition to the representations, warranties and covenants contained in this Sale and Servicing Agreement, the Depositor hereby represents,
warrants, and covenants to the Issuer as follows on the Closing Date (it being understood that each such representation, warranty and covenant is not being made in respect of any 2020-1A SUBI Loan): 

1. This Sale and Servicing Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Loans in favor
of the Issuer, which security interest is prior to all other Liens (other than Permitted Liens), and is enforceable as such as against creditors of and purchasers from the Depositor. 

2. The Loans constitute “tangible chattel paper,” “payment intangibles,” “accounts,” “instruments,”
“general intangibles” or “electronic chattel paper” within the meaning of the UCC. 
 3. The Depositor owns and has good
and marketable title to the Loans free and clear of any Lien (other than any Permitted Lien), claim or encumbrance of any Person. 
 4. The
Depositor will cause, within ten (10) days after the effective date of this Sale and Servicing Agreement, the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in
order to perfect the sale of and the security interest in the each Loan sold by the Depositor, and if any additional such filing is necessary in connection with any Additional Loans sold by the Depositor to the Issuer, the Depositor will cause such
filings to be made within ten (10) days of the applicable Addition Date. All financing statements referred to in this paragraph contain a statement that: “A purchase of or security interest in any collateral described in this financing
statement will violate the rights of the Secured Party/Purchaser”. 
 5. (a) Other than the conveyance (including any security interest
granted) to the Issuer pursuant to this Sale and Servicing Agreement, the Depositor has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Sold Assets (other than any such pledge, assignment, sale, grant or
conveyance that is no longer effective); and (b) the Depositor has not authorized the filing of, and is not aware of, any financing statements against the Depositor that include a description of collateral covering any Loan sold by the
Depositor to the Issuer other than any financing statement (i) relating to the conveyance of the Loans by the Warehouse Borrower to the Seller under the Purchase Agreement, (ii) relating to the conveyance of Loans by a borrower under a
warehouse facility pursuant to an Other Warehouse Purchase Agreement, if applicable, (iii) relating to the conveyance of Loans by a Regional Originator to the Seller under the Omnibus Distribution and Assignment Agreement, (iv) relating to
the conveyance of the 2020-1A SUBI Certificate by Regional North Carolina to the Seller under the SUBI Certificate Purchase Agreement, (v) relating to the pledge of the
2020-1A SUBI Assets by each of the North Carolina Trust and the Issuer to the Indenture Trustee, (vi) relating to the conveyance of the 2020-1A SUBI Certificate and
the Loans (other than the 2020-1A SUBI Loans) by the Seller to the Depositor pursuant to the Loan Purchase Agreement, (vii) relating to the conveyance of the Loans (other than the 2020-1A SUBI Loans) by the Depositor to the Issuer pursuant to the Sale and Servicing Agreement, (viii) relating to the security interest granted to the Indenture Trustee under the Indenture or (ix) that
has been terminated. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule III - 1 

 6. The Depositor is not aware of any material judgment, ERISA or tax lien filings against
the Depositor. 
 7. On the date of the conveyance of any Loan by the Depositor to the Issuer, the Seller (or any Affiliate thereof) has in
its possession all original copies of the instruments and tangible chattel paper that constitute or evidence each Loan sold by the Seller to the Depositor; and none of the tangible chattel paper that constitute or evidence such Loan sold by such
Seller to the Depositor has any stamps, marks or notations indicating that such Loan has been pledged, assigned or otherwise conveyed to any Person other than the Seller, the North Carolina Trust, the Depositor, the Issuer or the Indenture Trustee
other than any such stamps, marks or notations that relate to a pledge, assignment, conveyance or other interest that has been cancelled, terminated or voided (or if such stamp, mark or notation is in the name of an agent (or any predecessor agent)
under the ABL Facility, the Issuer has the right to cancel or void such stamp, mark or notation without the consent of such agent (or any predecessor agent, as applicable), and such agent (or any predecessor agent, as applicable) has released in
writing its lien on such Contract). 
 8. Notwithstanding any other provision of this Sale and Servicing Agreement or any other Transaction
Document, the perfection representations, warranties and covenants contained in this Schedule III shall be continuing, and remain in full force and effect until such time as all obligations under this Sale and Servicing Agreement have been finally
and fully paid and performed. 
 9. The Depositor has received all consents and approvals to the sale of each Loan sold by it under the Sale
and Servicing Agreement to the Issuer required by the terms of the Sale and Servicing Agreement to the extent that it constitutes an instrument. 

10. To the extent that any Contract relating to a Loan constitutes Electronic Chattel Paper, there is only one single Authoritative Copy of
each electronic “record” constituting or evidencing a Contract that is Electronic Chattel Paper, the record or records composing the Electronic Chattel Paper are created, stored and assigned in such a manner that (A) a single
authoritative copy of the record or records exists which is unique, identifiable and unalterable (other than a revision that is readily identifiable as an authorized or unauthorized revision), (B) each copy of the authoritative copy and any copy of
a copy is readily identifiable as a copy that is not the authoritative copy, (C) the authoritative copy has been communicated to and is maintained by the Electronic Vault Provider as a designated custodian of the Indenture Trustee, (D) all
copies or revisions that add or change an identified assignee of the Authoritative Copy of such Contract that constitutes or evidences the Loan must be made with the participation of the Indenture Trustee, and (E) such Authoritative Copy
identifies only the Indenture Trustee as the assignee. To the extent that any Contract relating to a Loan constitutes Electronic Chattel Paper, none of the Seller, the Servicer, the Electronic Vault Provider nor any other Person has communicated an
Authoritative Copy of such Contract that constitutes or evidences the Loan to any Person other than the Electronic Vault Provider as a designated custodian of the Indenture Trustee pursuant to the terms of the Sale and Servicing Agreement and the
Electronic Collateral Control Agreement from and after the Closing Date or the applicable Addition Date. 

  
 SALE AND SERVICING AGREEMENT (RMIT
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 The parties to this Sale and Servicing Agreement shall provide each Rating Agency with
prompt written notice of any material breach of the perfection representations, warranties and covenants contained in this Schedule III, and shall not, without satisfying the Rating Agency Notice Requirement, waive a breach of any of such perfection
representations, warranties or covenants. 
 The Depositor covenants that, in order to evidence the interests of the Issuer under this the
Sale and Servicing Agreement, the Depositor shall take such action, or execute and deliver such instruments as may be necessary or advisable (including, without limitation, such actions as are requested by the Issuer) to maintain and perfect, as a
first-priority interest, the Issuer’s security interest in the Loans. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule III - 3 

 Schedule IV 

Loan Level Representations, Warranties and Covenants 

With respect to any Loan that is sold by the Seller to the Depositor (or in the case of the 2020-1A
SUBI Loans, allocated to the 2020-1A SUBI by the Servicer in accordance with the 2020-1A SUBI Supplement) the following representations and warranties are made as of the
Closing Date and on each Addition Date as applicable: 
  

	 	1.	 (A) With respect to a Loan other than a North Carolina Loan, immediately prior to the sale and assignment to
the Depositor, (i) the Seller has sole and exclusive ownership of such Loan and any Related Loan Assets free and clear of any Lien (other than any Permitted Lien), (ii) the Loan Purchase Agreement effects a valid sale to the Depositor of such
Loan and the Related Loan Assets free and clear of any Liens (other than any Permitted Lien), (iii) upon the Closing Date or Addition Date, as applicable, with respect to such Loan, (a) there will be vested in the Depositor sole and exclusive
ownership of such Loan and all Related Loan Assets free and clear of any Lien (other than any Permitted Lien) of any Person claiming through or under the Seller and in compliance with all Requirements of Law applicable to the Seller and
(b) there will have been effected a valid assignment of the Seller’s interest in such Loan and all Related Loan Assets, enforceable against the Seller and, upon the filing of all appropriate UCC financing statements, against all other
persons, including creditors of and all other entities that have purchased or will purchase assets from the Seller, (iv) no filings, notices or other compliance with any bulk sales provisions of the UCC or other applicable Requirements of Law
in respect of bulk sales are required to be made by the Seller, the Depositor or any Affiliate thereof and (v) such Loan is not subject to any right of set off or similar right, and (B) with respect to a North Carolina Loan only,
(i) immediately prior to the contribution and assignment to the North Carolina Trust, Regional North Carolina has sole and exclusive ownership of such North Carolina Loan and any related Contributed Assets free and clear of any Lien (other than
any Permitted Lien), (ii) the Transfer and Contribution Agreement effects a valid contribution to the North Carolina Trust of such North Carolina Loan and the related Contributed Assets free and clear of any Liens (other than any Permitted Lien),
(iii) upon the Closing Date or Addition Date, as applicable, with respect to each North Carolina Loan to be allocated to the 2020-1A SUBI, (a) there will be vested in the North Carolina Trust sole and
exclusive ownership of such Loan and all related 2020-1A SUBI Assets free and clear of any Lien (other than any Permitted Lien) of any Person claiming through or under Regional North Carolina and in compliance
with all Requirements of Law applicable to Regional North Carolina and (b) there will have been effected a valid assignment of Regional North Carolina’s interest in such Loan and all related 2020-1A
SUBI Assets, enforceable against Regional North Carolina and, upon the filing of all appropriate UCC financing statements, against all other persons, including creditors of and all other entities that have purchased or will purchase assets from
Regional North Carolina, (iv) no filings, notices or other compliance with any bulk sales provisions of the UCC or other applicable Requirements of Law in respect of bulk sales are required to be made by the Regional North Carolina, the North
Carolina Trust or any Affiliate thereof and (v) such Loan is not subject to any right of set off or similar right. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule IV - 1 

	 	2.	 All consents, licenses, approvals or authorizations of, or registrations or declarations with, any Governmental
Authority that are required in connection with the sale of such Loan and the Related Loan Assets (or in the case of the 2020-1A SUBI Loans, the allocation of such Loan and related 2020-1A SUBI Assets) or in order for the Depositor (or in the case of the 2020-1A SUBI Loans, the Issuer) or any transferee thereof to realize all rights and benefits with
respect to such Loan and the Related Loan Assets, in each case have been obtained or made by it or an Affiliate thereof and are fully effective. 

  

	 	3.	 It has not used any selection procedure adverse to the interests of the Depositor (or in the case of the 2020-1A SUBI Loans, the North Carolina Trust), its transferees or the Noteholders in selecting the related Loans to be sold under the Loan Purchase Agreement (or in the case of the
2020-1A SUBI Loans, allocated to the 2020-1A SUBI) on the Closing Date or such Addition Date, as applicable. 

 

	 	4.	 The Loan Schedule (as supplemented by any applicable additional Loan Schedule) identifies each Loan conveyed by
the Seller to the Depositor or allocated to the 2020-1A SUBI, as applicable, on the Closing Date or such Addition Date, as applicable. 

 

	 	5.	 As of the applicable Cut-Off Date, such Loan was an Eligible Loan.

  

	 	6.	 Such Loan complies in all material respects with the terms of the applicable Contract. 

 

	 	7.	 The Contract for such Loan is a legal, valid and binding obligation of the applicable Regional Originator
thereunder and the related Loan Obligor and any guarantor or co-signer named therein, in each case enforceable in accordance with its terms (except as enforceability may be limited by Debtor Relief Laws or
general principles of equity), and, to its knowledge, is not subject to offset, recoupment, adjustment or any other claim. 

  

	 	8.	 It or an Affiliate thereof has in its possession all original copies of the instruments and tangible chattel
paper (if any) that constitute or evidence such Loan on the Closing Date or such Addition Date, as applicable. 

  

	 	9.	 None of the tangible chattel paper that constitute or evidence such Loan on the Closing Date or such Addition
Date, as applicable, has any stamps, marks or notations indicating that such Loan has been pledged, assigned or otherwise conveyed to any Person other than the Seller, the North Carolina Trust, the Depositor, the Issuer or the Indenture Trustee,
other than any such stamps, marks or notations that relate to a pledge, assignment, conveyance or other interest that has been cancelled, terminated or voided (or if such stamp, mark or notation is in the name of an agent (or any predecessor agent)
under the ABL Facility, the Issuer has the right to cancel or void such stamp, mark or notation without the consent of such agent (or any predecessor agent, as applicable), and such agent (or any predecessor agent, as applicable) has released in
writing its lien on such Contract). 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule IV - 2 

	 	10.	 The Contract for such Loan is freely assignable and such Contract does not require the approval or consent of
any related Loan Obligor or any other person to effectuate the valid assignment of the same by the Regional Originator, the Seller, the North Carolina Trust or any Affiliate thereof. 

 

	 	11.	 Such Loan has been serviced and at all times maintained in accordance with the Credit and Collection Policy by
it or an Affiliate thereof. 

  

	 	12.	 Such Loan arises from or in connection with a bona fide sale or loan transaction (including any amounts
in respect of interest amounts and other charges and fees assessed on such Loan). 

  

	 	13.	 Each Loan Obligor of such Loan is an individual, and such Loan has not been entered into with any corporation,
partnership, association or other similar entity. 

  

	 	14.	 Such Loan, the related Contract and all other related documents comply in all material respects with all
Requirements of Law. It and each Affiliate thereof has complied in all material respects with all applicable Requirements of Law with respect to the origination, marketing, maintenance and servicing of such Loan and the disclosures in respect
thereof including any change in the terms of such Loan. The interest rates, fees and charges in connection with such Loan comply, in all material respects, with all Requirements of Law. 

 

	 	15.	 (A) It or an Affiliate thereof has performed all obligations required to be performed by it or any Affiliate to
date under the related Contract, and all actions of it or an Affiliate thereof taken with respect to such Contract prior to the Closing Date or the related Addition Date, as applicable, have been in compliance, in all material respects, with such
Contract; (B) neither the Seller nor any Affiliate is in default under such Contract; and (C) no event has occurred under such Contract that, with the lapse of time or action by the applicable Loan Obligor or any third party, is reasonably
likely to result in a material default by it or any Affiliate under, any such Contract. 

  

	 	16.	 It and each Affiliate thereof (A) has complied in all material respects with the Credit and Collection
Policy relating to such Loan at all times; (B) has not entered into any transaction or made any commitment or agreement in connection with such Loan, other than in the ordinary course of such person’s business consistent in all material
respects with the Credit and Collection Policy as in effect on the date of such transaction, commitment or agreement; and (C) has not amended the terms of any related Contract except in accordance in all material respects with the Credit and
Collection Policy relating to such Loan as in effect on the date of such amendment. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule IV - 3 

	 	17.	 Neither it nor any Affiliate thereof has any known material obligations, commitments or other liabilities,
absolute or contingent, relating to such Loan or the Related Loan Assets. 

  

	 	18.	 It or an Affiliate thereof has properly and timely filed all foreign, federal, state, county, local and other
tax returns, including information returns required by law to be filed prior to the Closing Date or the applicable Addition Date with respect to such Loan and the Related Loan Assets and has withheld, paid or accrued all amounts shown thereon to be
due that are due prior to the applicable Cut-Off Date or accrue prior to such time. 

  

	 	19.	 The related Contract, together with its other records relating to such Loan are complete in all material
respects and, upon conveyance thereof to the Depositor under the Loan Purchase Agreement (or in the case of a 2020-1A SUBI Loan, allocation to the 2020-1A SUBI), the
Custodian (or any applicable subcustodian or designee of the Indenture Trustee) will be in possession of (or, in the case of an Electronic Contract, the Electronic Vault will contain) all documents necessary to enforce the rights and remedies of the
Regional Originator (as assigned in accordance with the Transaction Documents) in respect of such Loan against the Loan Obligor in accordance with the related Contract. 

 

	 	20.	 No transfer of such Loan and Related Loan Assets to the Depositor (or in the case of a 2020-1A SUBI Loan, no allocation of such 2020-1A SUBI Loan and related 2020-1A SUBI Assets) is being made with intent to hinder, delay
or defraud any of its creditors. 

  

	 	21.	 To the extent that any Contract relating to such Loan constitutes an instrument or tangible chattel paper (each
within the meaning of Section 9-102 of the UCC), there is only one original of such executed Contract. 

  

	 	22.	 (I) (A) With respect to any Initial Loan, either (x) the Imaged File for such Initial Loan shall have
been delivered to the Image File Custodian on or prior to the Closing Date or (y) to the extent that such Loan is a Hard Secured Loan for which the related certificate of title has not yet been issued, (i) the documents specified in clause
(a) of the definition of Imaged File have been delivered to the Image File Custodian and (ii) a valid application for the certificate of title and the applicable fee have been delivered to the appropriate authority in accordance with 9-303(b) of the UCC, in each case, on or prior to the Closing Date (provided, however, that this clause (A)(y)(ii) shall be deemed breached if such documents are not delivered to the Image File Custodian
within one hundred eighty (180) days after the Closing Date); and (B) with respect to any Additional Loan, it shall have delivered (or caused to be delivered) either (x) the Imaged File for such Additional Loan to the Image File
Custodian on or prior to the applicable Addition Date or (y) to the extent that such Loan is a Hard Secured Loan for which the related certificate of title has not yet been issued by the appropriate authority, (i) the documents specified
in clause (a) of the definition of Imaged File have been delivered to the Image File Custodian and (ii) a valid application for the certificate of title and the applicable

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule IV - 4 

	 	
fee have been delivered to the appropriate authority in accordance with 9-303(b) of the UCC, in each case, on or prior to the applicable Addition Date
(provided, however, that this clause (B)(y)(ii) shall be deemed breached if such documents are not delivered to the Image File Custodian within one hundred eighty (180) days after the applicable Addition Date); and (II) in
connection with any such delivery of one or more Imaged Files to the Image File Custodian, it shall specify (or cause to be specified) the Loans to which such delivered Imaged Files relate; provided that the foregoing requirements shall not
apply with respect to each Loan originated in electronic form. 

  

	 	23.	 (A) With respect to a Loan other than a 2020-1A SUBI Loan, the Loan
Purchase Agreement, all documents or instruments delivered pursuant to the Loan Purchase Agreement by or with reference to the Seller or any transaction under the Loan Purchase Agreement, including any Additional Loan Assignment and the assignment
agreement (the “Conveyance Papers”) and any statement, report or other document furnished pursuant to the Loan Purchase Agreement or during the Depositor’s due diligence with respect to the Loan Purchase Agreement and the Conveyance
Papers, including documents and information in magnetic or electronic form, are true and correct in all material respects and do not contain any untrue statement of fact by the Seller or omit to state a fact necessary to make the statements of the
Seller contained in the Loan Purchase Agreement or therein, in light of the circumstances under which such statements were made, not misleading, and (B) with respect to a 2020-1A SUBI Loan only, the 2020-1A SUBI Supplement and the 2020-1A SUBI Servicing Agreement, all documents or instruments delivered pursuant to the 2020-1A SUBI
Supplement and the 2020-1A SUBI Servicing Agreement by or with reference to the Servicer or any transaction under such agreements, including any allocation notice or reallocation notice and any statement,
report or other document furnished pursuant to such 2020-1A SUBI Supplement and the 2020-1A SUBI Servicing Agreement or during the Servicer’s due diligence with
respect to such agreement, including documents and information in magnetic or electronic form, are true and correct in all material respects and do not contain any untrue statement of fact by the Servicer or omit to state a fact necessary to make
the statements of the Servicer contained in either the 2020-1A SUBI Supplement and the 2020-1A SUBI Servicing Agreement or therein, in light of the circumstances under
which such statements were made, not misleading. 

  

	 	24.	 (i) (x) The Loan Purchase Agreement creates a valid and continuing ownership or security interest (as
defined in the applicable UCC) in the 2020-1A SUBI Certificate and such Loan (other than a 2020-1A SUBI Loan) sold by the Seller in favor of the Depositor, which
security interest or ownership interest is prior to all other Liens (other than Permitted Liens), and is enforceable as such as against creditors of and purchasers from the Seller, and (y) with respect to a
2020-1A SUBI Loan only, the Transfer and Contribution Agreement creates a valid and continuing ownership or security interest (as defined in the applicable UCC) in such
2020-1A SUBI Loan transferred by Regional North Carolina to the North Carolina Trust, which security interest or ownership interest is prior to all other Liens (other than Permitted Liens), and is enforceable
as such as against creditors of and purchasers from Regional North Carolina; 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule IV - 5 

 (ii) such Loan constitutes “tangible chattel paper,” “electronic chattel
paper,” “payment intangibles,” “accounts,” “instruments” or “general intangibles” within the meaning of the UCC; 

(iii) (x) with respect to a Loan other than a 2020-1A SUBI Loan, the Seller owns and has good and
marketable title to such Loan and the related Purchased Assets sold by the Seller free and clear of any Lien, claim or encumbrance of any Person and (y) with respect to a 2020-1A SUBI Loan, the North
Carolina Trust owns and has good and marketable title to such 2020-1A SUBI Loan, free and clear of any Lien, claim or encumbrance of any Person (in each case, other than any Permitted Liens); 

(iv) it has received all consents and approvals to the sale of each Loan required by the terms of the applicable Contract to the extent that
it constitutes an instrument; 
 (v) it has caused or will cause, within ten (10) days after the Closing Date, the filing of all
appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the sale of and the security interest in the Purchased Assets sold by the Seller to the Depositor (or with respect
to the 2020-1A SUBI Loans, the 2020-1A SUBI Assets contributed by Regional North Carolina to the North Carolina Trust), and if any additional such filing is necessary in
connection with any transfer of Additional Loans, it will cause such filings to be made within ten (10) days of the applicable Addition Date; all such financing statements referred to in this paragraph contain a statement that: “A purchase
of or security interest in any collateral described in this financing statement will violate the rights of the Secured Party/Purchaser”; 

(vi) (a) other than the security interest granted and the conveyance to the Depositor pursuant to the Loan Purchase Agreement, it has not
pledged, assigned, sold, granted a security interest in, or otherwise conveyed any Purchased Assets sold by the Seller (other than any such pledge, assignment, sale, grant or conveyance that is no longer effective); and 

(b) it has not authorized the filing of, and is not aware of, any financing statements against the Seller that include a
description of collateral covering any Loans other than any financing statement (1) relating to the conveyance of the Loans by the Warehouse Borrower to the Seller under the Purchase Agreement, (2) relating to the conveyance of Loans by a
borrower under a warehouse facility pursuant to an Other Warehouse Purchase Agreement, if applicable, (3) relating to the conveyance of Loans by a Regional Originator to the Seller under the Omnibus Distribution and Assignment Agreement,
(4) relating to the conveyance of the 2020-1A SUBI Certificate by Regional North Carolina to the Seller under the SUBI Certificate Purchase Agreement, (5) relating to the pledge of the 2020-1A SUBI Assets by each of the North Carolina Trust and the Issuer to the 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule IV - 6 

 
Indenture Trustee, (6) relating to the conveyance of the 2020-1A SUBI Certificate and the Loans (other than the
2020-1A SUBI Loans) by the Seller to the Depositor pursuant to the Loan Purchase Agreement, (7) relating to the conveyance of the Loans (other than the 2020-1A SUBI
Loans) by the Depositor to the Issuer pursuant to the Sale and Servicing Agreement, (8) relating to the security interest granted to the Indenture Trustee under the Indenture or (9) that has been terminated; 

(vii) it is not aware of any material judgment, ERISA or tax lien filings against it; 

(viii) the Seller (or any Affiliate thereof) has in its possession all original copies of the instruments and tangible chattel paper that
constitute or evidence each Loan sold by it (or in the case of a 2020-1A SUBI Loan, allocated to the 2020-1A SUBI); and none of the tangible chattel paper that
constitute or evidence such Loan has any stamps, marks or notations indicating that such Loan has been pledged, assigned or otherwise conveyed to any Person other than the Seller, the North Carolina Trust, the Depositor, the Issuer or the Indenture
Trustee, other than any such stamps, marks or notations that relate to a pledge, assignment, conveyance or other interest that has been cancelled, terminated or voided (or if such stamp, mark or notation is in the name of an agent (or any
predecessor agent) under the ABL Facility, the Issuer has the right to cancel or void such stamp, mark or notation without the consent of such agent (or any predecessor agent, as applicable), and such agent (or any predecessor agent, as applicable)
has released in writing its lien on such Contract); and 
 (ix) to the extent that any Contract relating to a Loan constitutes Electronic
Chattel Paper, there is only one single Authoritative Copy of each electronic “record” constituting or evidencing a Contract that is Electronic Chattel Paper, the record or records composing the Electronic Chattel Paper are created, stored
and assigned in such a manner that (A) a single authoritative copy of the record or records exists which is unique, identifiable and unalterable (other than a revision that is readily identifiable as an authorized or unauthorized revision), (B)
each copy of the authoritative copy and any copy of a copy is readily identifiable as a copy that is not the authoritative copy, (C) the authoritative copy has been communicated to and is maintained by the Electronic Vault Provider as a
designated custodian of the Indenture Trustee, (D) all copies or revisions that add or change an identified assignee of the Authoritative Copy of such Contract that constitutes or evidences the Loan must be made with the participation of the
Indenture Trustee, and (E) such Authoritative Copy identifies only the Indenture Trustee as the assignee. To the extent that any Contract relating to a Loan constitutes Electronic Chattel Paper, none of the Seller, the North Carolina Trust, the
Servicer (including in its capacity as 2020-1A SUBI Servicer), the Electronic Vault Provider nor any other Person has communicated an Authoritative Copy of such Contract that constitutes or evidences the Loan
to any Person other than the Electronic Vault Provider as a designated custodian of the Indenture Trustee pursuant to the terms of the Sale and Servicing Agreement and the Electronic Collateral Control Agreement from and after the Closing Date or
the applicable Addition Date. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) - Schedule IV - 7 

 Exhibit A-1 

Form of Initial Loan Assignment 

This INITIAL LOAN ASSIGNMENT (this “Agreement”), dated [__________], 2020, is by Regional Management Receivables III, LLC, a
Delaware limited liability company (the “Assignor”), in favor of Regional Management Issuance Trust 2020-1, a Delaware statutory trust (the “Assignee”). Capitalized terms used
herein but not defined shall have the meaning ascribed to such terms in the Sale and Servicing Agreement, dated as of September 23, 2020 (the “Sale and Servicing Agreement”) among the Assignor, the Assignee, the North Carolina
Trust, Regional Management Corp., as Servicer, the Subservicers party thereto and Wells Fargo Bank, National Association, as Image File Custodian. 

For good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the parties hereto hereby agree as follows:

 In accordance with the terms and conditions of the Sale and Servicing Agreement, the Assignor hereby confirm the sale, transfer,
conveyance and assignment to the Assignee of all of the right, title and interest of the Assignor, as Purchaser, in, to and under the Loans identified on Schedule A (the “Initial Assigned Loans”) and the other Sold Assets related
thereto. The Cut-Off Date for the Initial Assigned Loans is August 31, 2020. 
 The Assignor
specifically reserve and do not confirm the assignment to the Assignee hereunder of any of their rights, title or interest in, to and under, and all obligations of the Assignor with respect to, any loans which are not the initial Loans set forth on
Schedule A and are not the subject of this Agreement. 
 Schedule A hereto includes the information with respect to the initial Loans
required to be included in the Loan Schedule to be delivered under the Sale and Servicing Agreement on the Closing Date. 
 The Owner
Trustee is executing this Agreement not in its individual capacity, but solely as Owner Trustee on behalf of the Issuer and, accordingly, the Owner Trustee shall incur no personal liability in connection herewith or the transactions contemplated
hereby. 
 [Signature Page Follows] 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit A-1 – 1 

 IN WITNESS WHEREOF, the parties have caused this Initial Loan Assignment to be executed by
their duly authorized officers as of the date first above written. 
  

			
	ASSIGNOR:
	
	REGIONAL MANAGEMENT RECEIVABLES III, LLC, as Depositor
		
	By:	 	
                     
    

		 	Name: Michael S. Dymski
		 	Title: Vice President, interim Chief Financial Officer and Chief Accounting Officer
	
	ASSIGNEE:
	
	REGIONAL MANAGEMENT ISSUANCE TRUST 2020-1, as Issuer
	
	By: WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Owner Trustee of the Issuer
		
	By:	 	  

	Name:
	Title:

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit A-1 – 2 

 Schedule A 

Loan Schedule 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit A-1 – 3 

 Exhibit A-2 

Form of Additional Loan Assignment 

This ADDITIONAL LOAN ASSIGNMENT (this “Agreement”), dated as of the applicable Addition Date] (the “Addition
Date”), is by Regional Management Receivables III, LLC, a Delaware limited liability company (the “Assignor”), in favor of Regional Management Issuance Trust 2020-1, a Delaware
statutory trust (the “Assignee”). Capitalized terms used herein but not defined shall have the meaning ascribed to such terms in the Sale and Servicing Agreement, dated as of September 23, 2020 (the “Sale and Servicing
Agreement”) among the Assignor, the Assignee, the North Carolina Trust, Regional Management Corp., as Servicer, the Subservicers party thereto and Wells Fargo Bank, National Association, as Image File Custodian. 

For good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the parties hereto hereby agree as follows:

 In accordance with the terms and conditions of the Sale and Servicing Agreement, the Assignor hereby confirms the sale, transfer,
conveyance and assignment to the Assignee all of the right, title and interest of the Assignor, as Purchasers, in, to and under the Additional Loans identified on Schedule A (the “Assigned Additional Loans”) and the other Sold
Assets related thereto. The Cut-Off Date for the Assigned Additional Loans is [_________]. 
 The
Assignor specifically reserve and do not confirm the assignment to the Assignee hereunder any of its right, title or interest in, to and under and all obligations of the Assignor with respect to any loans which are not the Additional Loans set forth
on Schedule A and are not the subject of this Agreement. 
 Schedule A hereto includes the information required to be included in the Loan
Schedule with respect to the Assigned Additional Loans and the Loan Schedule is hereby supplemented to include the Assigned Additional Loans and other information included in Schedule A. 

[Signature Page Follows] 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit A-2 – 1 

 IN WITNESS WHEREOF, the parties have caused this Additional Loan Assignment to be executed
by their duly authorized officers as of the date first above written. 
  

			
	ASSIGNOR:
	
	REGIONAL MANAGEMENT RECEIVABLES III, LLC, as Depositor
		
	By:	 	  

		 	Name: Michael S. Dymski
		 	Title: Vice President, interim Chief Financial Officer and Chief Accounting Officer
	
	ASSIGNEE:
	
	 REGIONAL MANAGEMENT ISSUANCE
 TRUST 2020-1, as Issuer

	
	 By: REGIONAL MANAGEMENT CORP.,
 as
Administrator

		
	By:	 	  

	Name:
	Title:

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit A-2 – 2 

 SCHEDULE A 

LOAN SCHEDULE 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit A-2 – 3 

 EXHIBIT B 

FORM OF ANNUAL COMPLIANCE CERTIFICATE 

The undersigned, the duly [OFFICER TITLE] of (“[___________________]”), does hereby certify that: 

(1) [___________________] is, as of the date hereof, the Servicer under that certain Sale and Servicing Agreement, dated as of
September 23, 2020 (as amended and supplemented, or otherwise modified and in effect from time to time, the “Sale and Servicing Agreement”) among the Assignor, the Assignee, the North Carolina Trust, Regional Management Corp.,
as Servicer, the Subservicers party thereto and Wells Fargo Bank, National Association, as Image File Custodian. 
 (2) The
undersigned is an Authorized Officer of the Servicer and is duly authorized pursuant to the Sale and Servicing Agreement to execute and deliver this Officer’s Certificate to the Issuer, each Rating Agency and the Indenture Trustee. 

(3) A review of the activities of the Servicer during preceding calendar year and of its performance under the Sale and
Servicing Agreement was conducted under my supervision. 
 (4) Based on such review, the Servicer has, to the best of my
knowledge, performed in all material respects all of its obligations under the Sale and Servicing Agreement and other Transaction Documents throughout such year and no Servicer Default has occurred and is continuing, except as set forth in paragraph
5 below. 
 (5) The following is a description of each Servicer Default known to me to have occurred and be continuing as of
the date of this Officer’s Certificate made by the Servicer during the calendar year ended December 31, ________, which sets forth in detail the (a) nature of each such Servicer Default, (b) the action taken by the Servicer, if
any, to remedy each such Servicer Default and (c) the current status of each such Servicer Default: (If applicable, insert “None.”) 

Capitalized terms used but not defined herein are used as defined in the Sale and Servicing Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit B-1 

 IN WITNESS WHEREOF, each of the undersigned has duly executed this Officer’s
Certificate this ____ day of ____________.1 
  

					
	  

		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

  

	1 	 Required to be delivered on or before March 31 of each calendar year, beginning with March 31, 2022
pursuant to Section 3.07 of the Sale and Servicing Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit B-2 

 EXHIBIT C 

FORM OF LOAN REASSIGNMENT 

This LOAN REASSIGNMENT (this “Agreement”) dated as of [date of applicable Document Delivery Date], by Regional
Management Issuance Trust 2020-1, a Delaware statutory trust (the “Assignor”), in favor of Regional Management Receivables III, LLC, a Delaware limited liability company (the
“Assignee”). Capitalized terms used herein but not defined shall have the meaning ascribed to such terms in the Sale and Servicing Agreement, dated as of September 23, 2020 (the “Sale and Servicing Agreement”)
among the Assignor, the Assignee, the North Carolina Trust, Regional Management Corp., as Servicer, the Subservicers party thereto and Wells Fargo Bank, National Association, as Image File Custodian. 

For good and valuable consideration, the Assignor hereby agrees as follows: 

In accordance with the terms and conditions of the Sale and Servicing Agreement, the Assignor hereby grants, transfers and assigns to the
Assignee all of the right, title and interest of the Assignor in, to and under (i) the Loans identified on Schedule A (the “Reassigned Loans”), (ii) the Purchased Assets related thereto, (iii) the right to receive all Collections
with respect to the Purchased Assets after the date hereof, and (iv) all proceeds thereof. 
 The Assignee hereby accepts such
assignment and shall deliver to or at the direction of the Assignor the consideration identified in the preceding paragraph. 

Notwithstanding anything to the contrary herein, in no event shall any Loans or related Purchased Assets be transferred from the Assignor to
the Assignee pursuant to this Agreement unless such Loans and related Purchased Assets have been released from the lien of the Indenture in accordance with the terms thereof. 

The Assignor specifically reserves and does not assign to the Assignee hereunder any of its right, title or interest in, to and under and all
obligations of the Assignor with respect to any Loans which are not the Reassigned Loans set forth on Schedule A and are not the subject of this Agreement. 

The Owner Trustee is executing this Agreement not in its individual capacity, but solely as Owner Trustee on behalf of the Issuer and,
accordingly, the Owner Trustee shall incur no personal liability in connection herewith or the transactions contemplated hereby. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit C-1 

 IN WITNESS WHEREOF, the parties have caused this Loan Reassignment to be executed by their
duly authorized officers as of the date first above written. 
  

			
	ASSIGNOR:
	
	REGIONAL MANAGEMENT ISSUANCE TRUST 2020-1, as Issuer
	
	By: REGIONAL MANAGEMENT CORP., as Administrator
		
	By:	 	  

	Name:
	Title:
	
	ASSIGNEE:
	
	REGIONAL MANAGEMENT RECEIVABLES III, LLC, as Depositor
		
	By:	 	  

		 	Name: Michael S. Dymski
		 	Title: Vice President, interim Chief Financial Officer and Chief Accounting Officer

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit C-2 

 SCHEDULE A 

LOAN SCHEDULE 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit C-3 

 EXHIBIT D 

FORM OF ACCESSION AGREEMENT 

THIS ACCESSION AGREEMENT dated as of [____] [__], [____] (this “Agreement”) is by and among _______________________, a
__________________ (the “Company”), and Regional Management Receivables III, LLC (the “Depositor”). 

Reference is made to the Sale and Servicing Agreement, dated as of September 23, 2020 (as amended, restated, modified or supplemented
from time to time, the “Sale and Servicing Agreement”), among the Depositor, Regional Management Corp., as Servicer, the Subservicers party thereto, the North Carolina Trust and Regional Management Issuance Trust 2020-1, as Issuer. 
 Capitalized terms used herein without definition shall have the meanings given to
them in the Sale and Servicing Agreement. 
 Pursuant to Section 10.19 of the Sale and Servicing Agreement, an Affiliate of Regional
Management may be added as a party to the Sale and Servicing Agreement as a Subservicer upon satisfaction of the conditions set forth in the Sale and Servicing Agreement, including the delivery to the Indenture Trustee of a fully executed copy of
this Agreement. 
 In connection therewith: 

1. The Company hereby joins in and agrees to be bound by and to comply with each and every provision of the Sale and Servicing Agreement as a
Subservicer thereunder. 
 2. The Company hereby represents and warrants that each representation and warranty contained in Section 3.03
of the Sale and Servicing Agreement is true and correct with respect to the Company as of the date of this Agreement, as if such representations and warranties were set forth at length herein. 

3. This Accession Agreement shall be a Transaction Document, shall be binding upon and enforceable against the Company and its successors and
assigns, and shall inure to the benefit of and be enforceable by the Depositor and its assigns. 
 [Signature Page Follows] 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit D-1 

 IN WITNESS WHEREOF, each party hereto has caused this Accession Agreement to be executed by
its duly authorized officer as of the date first above written. 
  

			
	[NAME OF COMPANY]
		
	By:	 	  

	Name:
	Title:
	
	REGIONAL MANAGEMENT RECEIVABLES III, LLC, as Depositor
		
	By:	 	  

		 	Name: Michael S. Dymski
		 	Title: Vice President, interim Chief Financial Officer and Chief Accounting Officer

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit D-2 

 EXHIBIT E 

CONDITIONS TO ACCESSION 

The Depositor shall have received each of the following in form and substance satisfactory to the Depositor and any assignee thereof: 

(i) a fully-executed copy of an Accession Agreement with respect to the Additional Subservicer; 

(ii) a certificate of the Secretary or Assistant Secretary of the Additional Subservicer, dated the date of the proposed
Accession, certifying (a) the names and true signatures of the incumbent officers of the Additional Subservicer authorized to sign on behalf of the Additional Subservicer this Agreement Agreements and all other documents to be executed by the
Additional Subservicer hereunder or in connection herewith, (b) that the copy of the certificate of formation or articles of incorporation of the Additional Subservicer, as applicable, is a complete and correct copy and that such certificate of
formation or articles of incorporation have not been amended, modified or supplemented and are in full force and effect, (c) that the copy of the limited liability company agreement or by-laws, as
applicable, of the Additional Subservicer are a complete and correct copy, and that such limited liability company agreement or by-laws have not been amended, modified or supplemented and are in full force and
effect, and (d) the resolutions of the board of directors or board of managers of the Additional Subservicer approving and authorizing the execution, delivery and performance by the Additional Subservicer of this Agreement and all other
documents to be executed by the Additional Subservicer hereunder or in connection herewith; 
 (iii) a good standing
certificate for the Additional Subservicer, dated as of a recent date, issued by the Secretary of State of the Additional Subservicer’s State of formation or incorporation, as applicable; 

(iv) an Opinion of Counsel from counsel to the Additional Subservicer with respect to corporate matters; 

(v) an Opinion of Counsel from counsel to the Additional Subservicer with respect to the true sale of Loans sold by the
Additional Subservicer and the non consolidation of the Additional Subservicer with the Depositor; and 
 (vi) an
Officer’s Certificate stating that all conditions precedent to the effectiveness of such Accession are satisfied. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit E-1 

 EXHIBIT F 

RULE 15GA-1 INFORMATION 

Reporting Period: 
  

	☐	 Check here if nothing to report. 

 

																													
	 Asset

Class
	 	 Shelf
	  	 Series

Name
	  	 CIK
	 	 Originator
	 	 Loan

No
	 	 Servicer

Loan
No
	 	 Outstanding

Principal
 Balance
	 	 Repurchasing

Type
	 	
Indicate Repurchase Activity During the Reporting Period by Checkmark or by 
Date
Reference (as Applicable)

	 	 	 	  	 	  	 	 	 	 	 	 	 	 	 	 	 	 	 Subject to
Demand
	 	 Repurchased

or Replaced
	 	 Repurchase

Pending
	 	 Demand

in Dispute
	 	 Demand

Withdrawn
	 	 Demand

Rejected

 TERMS
AND DEFINITIONS 
 NOTE: Any date included on this report is subject to the descriptions below. Dates referenced on this report for this
Transaction where the Servicer is not the Repurchase Enforcer (as defined below), availability of such information may be dependent upon information received from other parties. 

References to “Repurchaser” shall mean the party obligated under the Transaction Documents to repurchase a Loan. References
to “Repurchase Enforcer” shall mean the party obligated under the Transaction Documents to enforce the obligations of any Repurchaser. 

Outstanding Principal Balance: For purposes of this report, the Outstanding Principal Balance of a Loan in this Transaction equals the
remaining outstanding principal balance of the Loan reflected on the distribution or payment reports at the end of the related reporting period, or if the Loan has been liquidated prior to the end of the related reporting period, the final
outstanding principal balance of the Loan reflected on the distribution or payment reports prior to liquidation. 
 Subject to
Demand: The date when a demand for repurchase is identified and coded by the Servicer or Indenture Trustee as a repurchase related request. 

Repurchased or Replaced: The date when a Loan is repurchased or replaced. To the extent such date is unavailable, the date upon which
the Servicer or Indenture Trustee obtained actual knowledge a Loan has been repurchased or replaced. 
 Repurchase Pending: A Loan is
identified as “Repurchase Pending” when a demand notice is sent by the Indenture Trustee, as Repurchase Enforcer, to the Repurchaser. A Loan remains in this category until (i) a Loan has been Repurchased, (ii) a request is
determined to be a “Demand in Dispute,” (iii) a request is determined to be a “Demand Withdrawn,” or (iv) a request is determined to be a “Demand Rejected.” 

With respect to the Servicer only, a Loan is identified as “Repurchase Pending” on the date (y) the Servicer sends notice of
any request for repurchase to the related Repurchase Enforcer, or (z) the Servicer receives notice of a repurchase request but determines it is not required to take further action regarding such request pursuant to its obligations under the
applicable Transaction Documents. The Loan will remain in this category until the Servicer receives actual knowledge from the related Repurchase Enforcer, Repurchaser, or other party, that the repurchase request should be changed to “Demand
in Dispute”, “Demand Withdrawn”, “Demand Rejected”, or “Repurchased.” 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit F-1 

 Demand in Dispute: Occurs (i) when a response is received from the Repurchaser
which refutes a repurchase request, or (ii) upon the expiration of any applicable cure period. 
 Demand Withdrawn: The date
when a previously submitted repurchase request is withdrawn by the original requesting party. To the extent such date is not available, the date when the Servicer or the Indenture Trustee receives actual knowledge of any such withdrawal. 

Demand Rejected: The date when the Indenture Trustee, as Repurchase Enforcer, has determined that it will no longer pursue enforcement
of a previously submitted repurchase request. To the extent such date is not otherwise available, the date when the Servicer receives actual knowledge from the Indenture Trustee, as Repurchase Enforcer that it has determined not to pursue a
repurchase request. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit F-2 

 EXHIBIT G 

LIMITED POWER OF ATTORNEY 

REGIONAL MANAGEMENT ISSUANCE TRUST 2020-1 (the “Grantor”), hereby makes,
constitutes and appoints each of Regional Management Corp., a Delaware corporation (the “Servicer”) and Regional Finance Corporation of Alabama, an Alabama corporation, Regional Finance Company of Georgia, LLC, a Delaware limited
liability company, Regional Finance Company of Missouri, LLC, a Delaware limited liability company, Regional Finance Company of New Mexico, LLC, a Delaware limited liability company, Regional Finance Corporation of North Carolina, a North Carolina
corporation, Regional Finance Company of Oklahoma, LLC, a Delaware limited liability company, Regional Finance Corporation of South Carolina, a South Carolina corporation, Regional Finance Corporation of Tennessee, a Tennessee corporation, Regional
Finance Corporation of Texas, a Texas corporation, Regional Finance Company of Virginia, LLC, a Delaware limited liability company, and Regional Finance Corporation of Wisconsin, a Wisconsin corporation (collectively, the
“Subservicers”) (each Subservicer and the Servicer individually and collectively, the “Grantee”), by and through themselves, their affiliates and their permitted subcontractors, and their respective officers,
designees and attorneys-in-fact, its true and lawful Attorneys-in-Fact with full power of
substitution, and hereby authorizes and empowers each Grantee, in the name of and on behalf of the Grantor, to have full power and authority to take any and all lawful acts which it may deem necessary or desirable to effect the servicing and
administration of the Loans pursuant to the Sale and Servicing Agreement, dated as of September 23, 2020, among the Grantor, as Issuer, Regional Management Receivables III, LLC, as Depositor, the Servicer, the Subservicers and the North
Carolina Trust, acting thereunder solely with respect to the 2020-1A SUBI (the “Sale and Servicing Agreement”), including, but not limited to: 

(i) Collecting amounts payable under the Loans, 

(ii) Bringing legal actions, enforcing legal prosecution of claims and pursuing any other appropriate remedies in connection
with the servicing and administration of the Loans, and 
 (iii) Signing, executing, acknowledging, delivering, filing for
record and/or recording on behalf of the Grantor all such documents, reports, filings, instruments, certificates and opinions required in connection with the foregoing, including, without limitation, notices, proofs of claim, affidavits, sworn
statements, agreed orders, stipulations, modification agreements, subordination agreements, endorsements, allonges, assignments, and cancellations of promissory notes or other instruments evidencing secured or unsecured indebtedness; and
assignments, full and partial releases, and terminations of UCC financing statements, motor vehicle liens, or other evidence or instrument of lien or security, 

in each case, to the extent the Servicer or any Subservicer is authorized to take such action pursuant to the Sale and Servicing Agreement. 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit G-1 

 The power herein granted to the Attorney-in-Fact shall include the power to name itself as grantee, assignee, or beneficiary of said instrument or act. 

The Grantor gives said Attorney-in-Fact full power and
authority to execute such instruments and to do and perform all and every act and thing necessary and proper to carry into effect the power or powers granted by or under this Limited Power of Attorney as fully as the Grantor might or could do, and
hereby does ratify and confirm all that said Attorney-in-Fact shall lawfully do or cause to be done by authority hereof. 

Third parties without actual notice may rely upon the exercise of the power granted under this Limited Power of Attorney, and may be satisfied
that this Limited Power of Attorney shall continue in full force and effect and has not been revoked unless an instrument of revocation has been made in writing by the Grantor. Capitalized terms used herein but not defined shall have the meanings
set forth in the Sale and Servicing Agreement. 
 The Owner Trustee is executing this Agreement not in its individual capacity, but solely
as Owner Trustee on behalf of the Issuer and, accordingly, the Owner Trustee shall incur no personal liability in connection herewith or the transitions contemplated hereby. 

[Remainder of Page Intentionally Left Blank] 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit G-2 

 IN WITNESS WHEREOF, this Power of Attorney is executed by Grantor as of the date first above
written. 
  

			
	REGIONAL MANAGEMENT ISSUANCE TRUST 2020-1, as Issuer
	
	By: WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Owner Trustee of the Issuer
		
	By:	 	
                     
            

	Name:
	Title:

 STATE OF             } 

}ss.: 
 COUNTY
OF         } 
 On this ____ day of ___________________, 2020, before me, the under-signed officer, personally
appeared _____________________________, and acknowledged that he or she, as such ______________________ [title of officer] on behalf of Wilmington Trust, National Association, solely in its capacity as Owner Trustee, being authorized so to do,
executed the foregoing instrument for the purposes therein contained, by signing the name of the Owner Trustee by himself or herself as __________________. 

In witness whereof I hereunto set my hand and official seal. 
  

					
	  

	Notary Public

 [Notarial Seal] 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit G-3 

 EXHIBIT H 

System Description 
 [On
file with the Indenture Trustee] 

  
 SALE AND SERVICING AGREEMENT (RMIT
2020-1) – Exhibit H-1EX-10.2

 Exhibit 10.2 

20[    ] Key Team Member Incentive Program 

The Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Regional Management
Corp. (the “Company”) and the Board have established the Regional Management Corp. Annual Incentive Plan, as amended (together with any successor plan, the “Annual Plan”), and the 2015 Long-Term Incentive Plan, as
amended (together with any successor plan, the “2015 Plan,” and collectively with the Annual Plan, the “Incentive Plans”) in order to attract, motivate, and retain the Company’s key team members and other
eligible participants. Pursuant to the Incentive Plans and a delegation of authority by the Committee and the Board to the Company’s Chief Executive Officer (the “CEO”), the CEO has established a Key Team Member Incentive
Program (the “KTIP”) for the 20[    ] fiscal year and has identified certain key team members to participate in the KTIP. 

The following team member (the “Participant”) is eligible to participate in the KTIP at the following level: 

Participant: [                    ] 

Target Bonus: $[            ] 

The Participant’s Target Bonus is calculated as [            ]% of the total
base salary that the Company estimates that it will pay to the Participant in 20[    ], assuming that the Participant remains employed by the Company through December 31, 20[    ]. The Participant’s
Target Bonus may be adjusted by the Company, at the discretion of the [Committee*/CEO†], if the total base salary actually paid to the Participant in 20[    ] differs from the estimated amount. In addition, if (i) the
Participant first commenced employment in 20[    ], (ii) the Participant first became eligible to participate in the KTIP in 20[    ], or (iii) the Participant’s KTIP percentage increased or
decreased during 20[    ], then the Participant’s Target Bonus has been or [will/may] be pro-rated accordingly as of the relevant event date, as determined by the
[Committee*/CEO†]. 
 The Target Bonus may be earned based on the achievement of: (i) certain performance goals of the Company
(the “Company Performance Goals”), as described in Part A below[,/and] (ii) certain performance goals of the Participant (the “Participant Performance Goals”), as described in Part B below[, and (iii) an
additional bonus opportunity (the “Additional Bonus Opportunity”), as described in Part C below]. The Participant may be eligible to earn a fiscal year 20[    ] incentive bonus (the “Earned
Bonus”) between [    ]% and [    ]% of the Participant’s Target Bonus, as further described below. The Participant’s Earned Bonus, if any, will be paid partly in cash and partly in
restricted shares of the Company’s common stock, as described in Part [D/E] below. The Participant is eligible to earn a bonus under the KTIP only (i) if the Participant is continuously employed by the Company through
[            ], 20[    ] and (ii) if and to the extent that the [CEO or the]† Committee determines that the bonus has been earned. 

Terms used but not otherwise defined herein shall have the meanings ascribed to them in the Incentive Plans or as otherwise determined by the
[CEO or the]† Committee. The KTIP and the Participant’s participation therein shall at all times be subject to the terms and conditions set forth in the Incentive Plans, including any limitations, conditions, or restrictions stated in the
Incentive Plans, unless the Board or the Committee determines otherwise. Copies of the Incentive Plans may be obtained by contacting the Company’s Chief Human Resources Officer. The Company, acting through the Board[,/or] the Committee [or
the CEO]†, has the authority to amend or terminate the KTIP. 

  

	*	 For executives subject to reporting under Section 16 of the Securities Exchange Act of 1934

	†	 For employees who are not subject to reporting under Section 16 of the Securities Exchange Act of 1934

 Page 1 of 4 

20[    ] Key Team Member Incentive Program 

 Part A.     Company Performance Goals. 

[    ] percent ([    ]%) of the Participant’s Target Bonus may be earned based on the achievement
of the following Company Performance Goals in fiscal year 20[    ]: (i) [            ], which represents [    ]% of the Target Bonus; (ii)
[            ], which represents [    ]% of the Target Bonus; (iii) [            ], which represents
[    ]% of the Target Bonus; (iv) [            ], which represents [    ]% of the Target Bonus; and (v)
[            ], which represents [    ]% of the Target Bonus. [Modify foregoing based on number and nature of performance goals.] 

With respect to each of the [Insert # of performance goals] performance components outlined in (i) through
([            ]) of the foregoing paragraph, the Participant may earn between [    ]% and [    ]% of the portion of the Target Bonus attributable to
the performance component, depending upon the Company’s performance in relation to the performance target. [With respect to the performance component outlined in ([    ]) of the foregoing paragraph, the Participant may earn
between [    ]% and [    ]% of the portion of the Target Bonus attributable to the performance component, depending upon the [Committee’s*/CEO’s†] determination of [    .]
The total award earned on account of the achievement of the Company Performance Goals may not exceed [    ]% of the Target Bonus. 

Each component is subject to satisfaction of its own financial test or other requirements as set forth below: 

[Insert description of Company performance criteria.] 
 Part
B.     Participant Performance Goals. 
 The remaining [    ] percent
([    ]%) of the Participant’s Target Bonus may be earned based on the Participant’s overall individual performance in 20[    ], taking into consideration those factors that the Company[and/,] the
Participant’s supervisor[, and the Committee]* may deem relevant. In assessing the Participant’s overall performance, the Company[and/,] the Participant’s supervisor[, and the Committee]* may consider, among other things, the
Participant’s achievement of the following objectives in 20[    ]: 
 [Insert description of personal performance criteria] 

A Participant may earn between [    ]% and [    ]% of the portion of the Target Bonus attributable to
the Participant Performance Goals. The award earned on account of the achievement of the Participant Performance Goals may therefore not exceed [    ]% of the Target Bonus [(subject to a further limitation that that the
Participant’s total Earned Bonus may not exceed [    ]% of the Participant’s Target Bonus)]. The Committee [and/or the CEO]† will determine the extent, if any, to which the Participant has attained the Participant
Performance Goals. 
 Part C.     Defined Terms. 

Capitalized terms used in this document and not defined elsewhere in this document or the Incentive Plans have the definitions set forth below,
unless otherwise determined by the Committee [or the CEO]†: 
 [Insert definitions related to performance criteria.] 

  

	*	 For executives subject to reporting under Section 16 of the Securities Exchange Act of 1934

	†	 For employees who are not subject to reporting under Section 16 of the Securities Exchange Act of 1934

 Page 2 of 4 

20[    ] Key Team Member Incentive Program 

 [Part D.     Additional Bonus Opportunity. 

In addition to the bonus opportunities outlined above, the Participant is eligible for a bonus of up to [    ]% of the
Participant’s Target Bonus based upon the Company’s achievement of [Insert performance criteria.]. Notwithstanding the foregoing, a Participant’s total Earned Bonus may not exceed [    ]% of the Participant’s
Target Bonus.] 
 Part E.     Payment of Earned Bonus. 

No later than March 15, 20[    ] (unless otherwise determined by the Committee in a manner consistent with applicable
laws), (i) the Committee [or the CEO]† will certify as to the achievement of the Company Performance Goals set forth in Part A above [and the Additional Bonus Opportunity set forth in Part D above], (ii) the [Committee*/CEO†], with input
from [the CEO and]* the Participant’s supervisor, will determine the extent of the achievement of the Participant Performance Goals set forth in Part B above, and (iii) the Earned Bonus shall be paid as provided below. The [CEO and/or
the]† Committee’s determination of the achievement of the Company Performance Goals[, the Additional Bonus Opportunity,] and the Participant Performance Goals and the calculation of the Participant’s Earned Bonus will be conclusive
and binding, and the Participant shall have no right to any portion of the Earned Bonus unless and until (and only to the extent that) such determinations have been made. 

The Earned Bonus shall be paid less applicable withholdings and without interest as follows: 

1.    Cash Payment. [    ] percent ([    ]%) of the Earned Bonus shall be
paid in cash; and 
 2.    Restricted Stock Award. [    ] percent
([    ]%) of the Earned Bonus shall be paid in the form of a Restricted Stock Award for shares of restricted common stock of the Company (“Restricted Stock”), subject to the Participant’s execution of a
restricted stock award agreement in a form approved by the Committee (the “Restricted Stock Award Agreement”). The Restricted Stock shall be issued under the 2015 Plan. The number of shares of Restricted Stock subject to the
Restricted Stock Award Agreement shall be determined by dividing [    ] percent ([    ]%) of the Earned Bonus by $[            ], rounding down to
the nearest whole share. The Restricted Stock will vest [            ], subject to the Participant’s continued employment with the Company from the grant date until each vesting date,
or as otherwise provided in the 2015 Plan or the Restricted Stock Award Agreement. The Restricted Stock, including the vesting thereof, will be subject to such other terms and conditions as set forth in the 2015 Plan and the Restricted Stock Award
Agreement. 
 The KTIP, including the terms described herein, shall not constitute an offer or sale of any shares of the Company’s
common stock unless and until the [CEO and/or the]† Committee determines if, and the extent to which, the Participant is entitled to an Earned Bonus and has determined the portion of the Earned Bonus that will be settled in an award of
Restricted Stock under the 2015 Plan. 

  

	*	 For executives subject to reporting under Section 16 of the Securities Exchange Act of 1934

	†	 For employees who are not subject to reporting under Section 16 of the Securities Exchange Act of 1934

 Page 3 of 4 

20[    ] Key Team Member Incentive Program 

 IN WITNESS WHEREOF, the Participant and the Company acknowledge the terms and conditions of
the Participant’s participation in the 20[    ] KTIP, effective [            ]. 

 

			
	Participant:
	
	  

	 Printed Name:

	
	Regional Management Corp.

 
			
		
	By:	 	  

 
			
	Name:	 	
	Its:	 	

  

	*	 For executives subject to reporting under Section 16 of the Securities Exchange Act of 1934

	†	 For employees who are not subject to reporting under Section 16 of the Securities Exchange Act of 1934

 Page 4 of 4 

20[    ] Key Team Member Incentive Program

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