Document:

EX-10.9

 Exhibit 10.9 
 Note: Certain portions have been omitted from this General Terms Agreement in accordance with a request for confidential treatment submitted to the Securities and Exchange Commission. Omitted information
has been replaced with an asterisk. Omitted information has been filed separately with the Securities and Exchange Commission. 

PURCHASE AGREEMENT NUMBER 3075 
 between 
 THE BOEING COMPANY 

and 
 AEROVIAS
DEL CONTINENTE AMERICANO S.A. AVIANCA 
 Relating to Boeing Model 787-859 Aircraft 

  

					
	P.A. No. 3075	  		  	
			
		  	BOEING PROPRIETARY	  	

 TABLE OF CONTENTS 

 

							
	 	 	 	  	SA
NUMBER	 
	 ARTICLES
	  			
			
	1.	 	 Quantity, Model and Description
	  			
			
	2.	 	 Delivery Schedule
	  			
			
	3.	 	 Price
	  			
			
	4.	 	 Payment
	  			
			
	5.	 	 Miscellaneous
	  			
		
	 TABLE
	  			
			
	I-1.	 	 Aircraft Information Table
	  	 	SA-4	  
			
	I-2	 	 Aircraft Information Table
	  	 	SA-3	  
			
	I-3	 	 Aircraft Information Table
	  	 	SA-3	  
		
	 EXHIBIT
	  			
			
	A.	 	 Aircraft Configuration
	  			
			
	B.	 	 Aircraft Delivery Requirements and Responsibilities
	  			
		
	 SUPPLEMENTAL EXHIBITS
	  			
			
	AE1.	 	 Escalation Adjustment/Airframe and Optional Features
	  			
			
	BFE1.	 	 Buyer Furnished Equipment Variables
	  			
			
	CS1.	 	 Buyer Support Document
	  			
			
	EE1.	 	 Engine Escalation/Engine Warranty and Patent Indemnity
	  			
			
	SLP1.	 	 Service Life Policy Components
	  			

  

			
	P.A. No. 3075	  	AVI
	SA-4	  	

 BOEING PROPRIETARY 

			
	 LETTER AGREEMENTS

		
	 3075-01
	  	 787 Open Configuration Matters and Attachment

	 3075-02
	  	 787 Spare Parts Commitment

	 3075-03
	  	 787 Spare Parts Initial Provisioning

	 3075-04
	  	 Aircraft Model Substitution

	 3075-05
	  	 Demonstration Flight Waiver

	 3075-06
	  	 Schedule Reliability

	 3075-07
	  	 Spare Parts – Flight Crew Training

	 6-1162-DME-0895
	  	 AD Cost Materials

	 6-1162-DME-0896
	  	 GEnx & Trent Performance Guarantees and Attachments

	 6-1162-DME-0897
	  	 Alternate Engine Selection

	 6-1162-DME-0898
	  	 GEnx Performance Retention and Attachment

	 6-1162-DME-0899
	  	 Trent Performance Retention and Attachment

	 6-1162-DME-0900
	  	 Maintenance Cost Guarantees and Attachment

	 6-1162-DME-0901
	  	 Advance Payment Matters

	 6-1162-DME-0902
	  	 Promotional Support

	 6-1162-DME-0903
	  	 Purchase Rights

	 6-1162-DME-0904
	  	 Special Matters

	 6-1162-DME-0905
	  	 Escalation [*]

	 6-1162-DME-0905-01
	  	 [*]

	 6-1162-DME-0905-02
	  	 [*]

	 6-1162-DME-0906
	  	 Customer Services Matters and Attachment

	 6-1162-DME-0907
	  	 AGTA Matters

	 6-1162-DME-1089-R1
	  	 [*]

	 6-1167-DME-1347
	  	 Additional Special Matters – [*]

	 RECORD OF SUPPLEMENTAL AGREEMENTS

	 SA-1 -
	  	 28 March 2007

	 SA-2 -
	  	 21 November 2007

	 SA-3 -
	  	 26 September 2012

	 SA-4 -
	  	

  

			
	P.A. No. 3075	  	AVI
	SA-4	  	

 BOEING PROPRIETARY 

 Purchase Agreement No. 3075 

between 
 The
Boeing Company 
 and 
 Aerovias del Continente Americano S.A. AVIANCA 
  

 
 This Purchase
Agreement No. 3075 dated as of 03 October between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to the purchase and sale of Model 787-859 aircraft together with
all tables, exhibits, supplemental exhibits, letter agreements and other attachments thereto, if any, (Purchase Agreement) incorporates the terms and conditions of the Aircraft General Terms Agreement dated as of even date herewith between
the parties, identified as AGTA-AVI (AGTA). 
  

	Article 1.	Quantity, Model, Description and Inspection 

 The aircraft to be delivered to Customer will be designated as Model 787-859 aircraft (the Aircraft). Boeing will manufacture and sell to Customer Aircraft conforming to the configuration
described in Exhibit A in the quantities listed in Table 1 to the Purchase Agreement. [*] months prior to [*] Customer’s first Aircraft, Boeing will provide Customer a Boeing document defining a customer inspection process appropriate to the
787 manufacturing process (787 Inspection Process) which will apply in lieu of inspection processes traditionally applicable to other models of aircraft and will supersede the provisions of Article 5.2 of the AGTA. 

 

	Article 2.	Delivery Schedule. 

 The
scheduled months of delivery of the Aircraft are listed in the attached Table 1. Exhibit B describes certain responsibilities for both Customer and Boeing in order to accomplish the delivery of the Aircraft. 

 

	Article 3.	Price. 

 3.1 Aircraft
Basic Price. The Aircraft Basic Price is listed in Table 1 in subject to escalation dollars. 
 3.2 Advance Payment Base
Prices. The Advance Payment Base Prices listed in Table 1 were calculated utilizing the latest escalation factors available to Boeing on the date of this Purchase Agreement projected to the month of scheduled delivery. 

  

					
	P.A. No. 3075	  	 1
  

BOEING PROPRIETARY
	  	

	Article 4.	Payment. 

 4.1 Boeing
acknowledges receipt of a deposit in the amount shown in Table 1 for each Aircraft (Deposit). 
 4.2 The standard advance
payment schedule for the Model 787-859 aircraft requires Customer to make certain advance payments, expressed in a percentage of the Advance Payment Base Price of each Aircraft beginning with a payment of [*] less the Deposit, [*]. 

4.3 For any Aircraft whose scheduled month of delivery is less than [*] months from the date of this Purchase Agreement, the total amount
of advance [*] 
 4.4 Customer will pay the balance of the Aircraft Price of each Aircraft at delivery. 

 

	Article 5.	Additional Terms. 

 5.1
Aircraft Information Table. Table 1 consolidates information contained in Articles 1, 2, 3 and 4 with respect to (i) quantity of Aircraft, (ii) applicable Detail Specification, (iii) month and year of scheduled deliveries,
(iv) Aircraft Basic Price, (v) applicable escalation factors and (vi) Advance Payment Base Prices and advance payments and their schedules. 
 5.2 Escalation Adjustment/Airframe and Optional Features. Supplemental Exhibit AE1 contains the applicable airframe and optional features escalation formula. 

5.3 Customer Support Variables. Information, training, services and other things furnished by Boeing in support of introduction of
the Aircraft into Customer’s fleet are described in Supplemental Exhibit CS1. Supplemental Exhibit CS1 supersedes in its entirety Exhibit B to the AGTA [*] and, for clarity, all references to Exhibit B to the AGTA shall be deemed to refer to
Supplemental Exhibit CS1 to the Purchase Agreement. 
 5.4 Engine Escalation Variables. Supplemental Exhibit EE1 contains
the applicable engine escalation formula, the engine warranty and the engine patent indemnity for the Aircraft. 

  

					
	P.A. No. 3075	  	 2
  

BOEING PROPRIETARY
	  	

 5.5 Service Life Policy Component Variables. Supplemental Exhibit SLP1 lists the
airframe and landing gear and other components covered by the Service Life Policy for the Aircraft (Covered Components). 

5.6 Public Announcement. Boeing reserves the right to make a public announcement regarding Customer’s purchase of the
Aircraft upon approval of Boeing’s press release by Customer’s public relations department or other authorized representative. 
 5.7 Negotiated Agreement; Entire Agreement. This Purchase Agreement, including the provisions of Article 8.2 of the AGTA relating to insurance, and Article 11 of Part 2 of Exhibit C of the AGTA
relating to DISCLAIMER AND RELEASE and EXCLUSION OF CONSEQUENTIAL AND OTHER DAMAGES, has been the subject of discussion and negotiation and is understood by the parties; the Aircraft Price and other agreements of the parties stated in
this Purchase Agreement were arrived at in consideration of such provisions. This Purchase Agreement, including the AGTA, contains the entire agreement between the parties and supersedes all previous proposals, understandings, commitments or
representations whatsoever, oral or written, and may be changed only in writing signed by authorized representatives of the parties. 
  

			
	DATED AS OF	 	 03 October 2006

  

									
	 AEROVIAS DEL CONTINENTE
 AMERICANO S.A. AVIANCA
	 		 	THE BOEING COMPANY
					
	BY	 	  
	 		 	BY	 	 Dennis Egge

					
	ITS	 	 CFO
	 		 	ITS	 	 Attorney-in-Fact

  

					
	P.A. No. 3075	  	 3
  

BOEING PROPRIETARY
	  	

 Appendix B 
 Supplemental Agreement No. SA-4 
 Table 1-1 to Purchase Agreement
No. 3075 
 Aircraft Delivery, Description, Price and Advance Payments 

 

																	
	 Airframe Model/MTOW:
	 	787-8	  	 	      [*]	  	  	 Detail Specification:
	  	 	787B1-4102-B (7/9/2007)	  
	 Engine Model/Thrust:
	 	TRENT[*]	  	 	[*]	  	  	 Airframe Price Base Year/Escalation Formula:
	  	 	[*]	  	  	 	[*]	  
	 Airframe Price:
	  	 	[*]	  	  	 Engine Price Base Year/Escalation Formula:
	  	 	[*]	  	  	 	[*]	  
	 Optional Features:
	  	 	[*]	  	  		  				  			
		 		  	  
	  
	 	  		  				  			
	 Sub-Total of Airframe and Features:
	  	 	[*]	  	  	 [*]
	  				  			
	 Engine Price (Per Aircraft):
	  	 	[*]	  	  	 Base Year Index (ECI):
	  				  	 	[*]	  
	 Aircraft Basic Price (Excluding BFE/SPE):
	  	 	[*]	  	  	 [*]
	  				  	 	[*]	  
		 		  	  
	  
	 	  		  				  			
	 Buyer Furnished Equipment (BFE) Estimate:
	  	 	[*]	  	  	 [*]
	  				  			
	 //Seller Purchased Equipment (SPE)/In-Flight Entertainment (IFE)// Estimate:
	  	 	[*]	  	  	 [*]
	  				  			
		 		  				  		  				  	 	[*]	  
		 		  				  	 Base Year Index (CPI):
	  				  	 	[*]	  
	 Refundable Deposit/Aircraft at Proposal Accept:
	  	 	[*]	  	  	 [*]
	  				  			

  

																	
	 Delivery Date
	  	Number
of
Aircraft	  	Escalation
Factor
(Airframe)	  	Escalation
Factor
(Engine)	  	Escalation
Estimate
Adv 
Payment
Base
Price Per A/P	  	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):
	  	  	  	  	  	[*]	  	[*]	  	[*].	  	[*]
	  	  	  	  	  	  
	  	  
	  	[*]	  	[*]
	 [*]
	  	1	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	1	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	1	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	1	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	1	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	1	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	1	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	1	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	1	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	1	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 Total:
	  	10	  		  		  		  		  		  		  	

  

					
		 		  	SA-4
		 	Boeing Proprietary	  	Page 1

 Appendix C 
 Supplemental Agreement No. SA-3 
 Table 1-2 to Purchase Agreement
No. 3075 
 Aircraft Delivery, Description, Price and Advance Payments 

 

																					
	 Airframe Model/MTOW:
	 	787-8	  	 	[*]	  	  	 Detail Specification:
	  	 
  
	787B1-4102-B

(7/9/2007)
	 
   

	 Engine Model/Thrust:
	 	TRENT[*]	  	 	[*]	  	  	 Airframe Price Base Year/Escalation Formula:
	  	 	[*]	  	  				  	 	[*]	  
	 Airframe Price:
	  	 	[*]	  	  	 Engine Price Base Year/Escalation Formula:
	  	 	[*]	  	  				  	 	[*]	  
	 Optional Features:
	  	 	[*]	  	  		  				  				  			
		 		  	  
	  
	 	  		  				  				  			
	 Sub-Total of Airframe and Features:
	  	 	[*]	  	  	 Airframe Escalation Data:
	  				  				  			
	 Engine Price (Per Aircraft):  [*]
	  	 	[*]	  	  	 Base Year Index (ECI):
	  				  	 	[*]	  	  			
	 Aircraft Basic Price (Excluding BFE/SPE):
	  	 	      [*]	  	  	 Base Year Index (CPI):
	  				  	 	[*]	  	  			
		 		  	  
	  
	 	  		  				  				  			
	 Buyer Furnished Equipment (BFE) Estimate:
	  	 	[*]	  	  	 Engine Escalation Data:
	  				  				  			
	 Seller Purchased Equipment (SPE) Estimate:
	  	 	[*]	  	  	 Base Year Index (ECI):
	  				  	 	[*]	  	  			
	 Deposit per Aircraft:
	  	 	[*]	  	  	 Base Year Index (CPI):
	  				  	 	[*]	  	  			

  

																	
	 Delivery Date
	  	Number of
Aircraft	  	Escalation
Factor
(Airframe)	  	Escalation
Factor
(Engine)	  	Escalation
Estimate
Adv 
Payment
Base
Price Per A/P	  	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to
Delivery):
	  	  	  	  	  	[*]	  	[*]	  	[*]	  	[*]
	  	  	  	  	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	1	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 [*]
	  	1	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	 Total:
	  	2	  		  		  		  		  		  		  	

  

					
		 		  	SA-3
		 	Boeing Proprietary	  	Page 1

 Appendix D 
 Supplemental Agreement No. SA-3 
 Table 1-3 to Purchase Agreement
No. 3075 
 Aircraft Delivery, Description, Price and Advance Payments 

 

															
	 Airframe Model/MTOW:
	  	787-8	  	   [*]   	  	 Detail Specification:
	  	 
  
	787B1-4102-B

(7/9/2007)
	  
   

	 Engine Model/Thrust:
	  	TRENT[*]	  	[*]	  	 Airframe Price Base Year/Escalation Formula:
	  	 	[*]	  	  	 	[*]	  
	 Airframe Price:
	  	[*]	  	 Engine Price Base Year/Escalation Formula:
	  	 	[*]	  	  	 	[*]	  
	 Optional Features:
	  	[*]	  		  				  			
		  		  	  
	  		  				  			
	 Sub-Total of Airframe and Features:
	  	[*]	  	 Airframe Escalation Data:
	  				  			
	 Engine Price (Per Aircraft):
	  	[*]	  	 Base Year Index (ECI):
	  	 	[*]	  	  			
	 Aircraft Basic Price (Excluding BFE/SPE):
	  	[*]	  	 Base Year Index (CPI):
	  	 	[*]	  	  			
		  		  	  
	  		  				  			
	 Buyer Furnished Equipment (BFE) Estimate:
	  	[*]	  	 Engine Escalation Data:
	  				  			
	 Seller Purchased Equipment (SPE) Estimate:
	  	[*]	  	 Base Year Index (ECI):
	  	 	[*]	  	  			
		  		  		  	 Base Year Index (CPI):
	  	 	[*]	  	  			

  

																	
	 Delivery Date
	  	Number
of
Aircraft	 	Escalation
Factor
(Airframe)	 	Escalation
Factor
(Engine)	 	Escalation
Estimate
Adv 
Payment
Base
Price Per A/P	 	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to
Delivery):
	  	 	 	 	 	[*]	 	[*]	 	[*]	 	[*]
	  	 	 	 	 	[*]	 	[*]	 	[*]	 	[*]
	 2nd Qtr-2019
	  	1*	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 3rd Qtr-2019
	  	1*	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 4th Qtr-2019
	  	1*	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 Total
	  	3	 		 		 		 		 	

  

	*	mid-quarter month is illustrated 

 The specific
month will be identified 24 months prior to each Quarter 

  

					
		 		  	SA-3
		 	Boeing Proprietary	  	Page 1

 AIRCRAFT CONFIGURATION 

between 
 THE
BOEING COMPANY 
 and 
 AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA 
 Exhibit A to Purchase
Agreement Number 3075 

  

					
	P.A. No. 3075	  	 A
  

BOEING PROPRIETARY
	  	

 Exhibit A to 
 Purchase Agreement No. 3075 
 Page 2 
  

 AIRCRAFT CONFIGURATION 

Dated                      

relating to 

BOEING MODEL 787-(8) AIRCRAFT 
 The content of this Exhibit A will be defined pursuant to the provisions of Letter Agreement 3075-01, “Open Configuration Matters,” to the Purchase Agreement. 

  

					
	P.A. No. 3075	 	A-1	  	
		 	  
 BOEING PROPRIETARY
	  	

 AIRCRAFT DELIVERY REQUIREMENTS AND RESPONSIBILITIES 

between 
 THE
BOEING COMPANY 
 and 
 AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA 
 Exhibit B to Purchase Agreement
Number 3075 

  

					
	P.A. No. 3075	  	 B
  

BOEING PROPRIETARY
	  	

 Exhibit B to 
 Purchase Agreement No. 3075 
 Page 1 
  

 AIRCRAFT DELIVERY REQUIREMENTS AND RESPONSIBILITIES 

relating to 

BOEING MODEL 787-859 AIRCRAFT 

Both Boeing and Customer have certain documentation and approval responsibilities at various times during the construction cycle of Customer’s
Aircraft that are critical to making the delivery of each Aircraft a positive experience for both parties. This Exhibit B documents those responsibilities and indicates recommended completion deadlines for the actions to be accomplished. 

 

	 	1.	GOVERNMENT DOCUMENTATION REQUIREMENTS. 

Certain actions are required to be taken by Customer in advance of the scheduled delivery month of each Aircraft with respect to obtaining certain
government issued documentation. 
  

	 	1.1	Airworthiness and Registration Documents. 

 Not later than [*] prior to delivery of each Aircraft, Customer will notify Boeing of the registration number to be painted on the side of the Aircraft. In addition, and not later than [*] prior
to delivery of each Aircraft, Customer will, by letter to the regulatory authority having jurisdiction, authorize the temporary use of such registration numbers by Boeing during the pre-delivery testing of the Aircraft. 

Customer is responsible for furnishing any Temporary or Permanent Registration Certificates required by any governmental authority having jurisdiction to
be displayed aboard the Aircraft after delivery. 
  

	 	1.2	Certificate of Sanitary Construction. 

 1.2.1 U.S. Registered Aircraft. Boeing will obtain from the United States Public Health Service [*], a United States Certificate of Sanitary Construction to be displayed aboard each Aircraft after
delivery to Customer. 
 1.2.2 Non-U.S. Registered Aircraft. If Customer requires a United States Certificate of
Sanitary Construction at the time of delivery of an Aircraft to [*] Customer will give written notice thereof to Boeing at least [*] prior to delivery. Boeing will then use its reasonable best efforts to obtain the Certificate from the United
States Public Health Service and present it to Customer at the time of Aircraft delivery. 

  

					
	P.A. No. 3075	 	B-1	  	
		 	  
 BOEING PROPRIETARY
	  	

 Exhibit B to 
 Purchase Agreement No. 3075 
 Page 2 
  

	 	1.3	Customs Documentation. 

1.3.1 Import Documentation. If the Aircraft is intended to be exported from the United States, Customer must notify Boeing not
later than [*] prior to delivery of each Aircraft of any documentation required by the customs authorities or by any other agency of the country of import. 
 1.3.2 General Declaration - U.S. If the Aircraft is intended to be exported from the United States, Boeing will prepare Customs Form 7507, General Declaration, for execution by U.S. Customs
immediately prior to the ferry flight of the Aircraft. For this purpose, Customer will furnish to Boeing not later than [*] prior to delivery all information required by U.S. Customs or U.S. Immigration and Naturalization Service, including
without limitation (i) a complete crew and passenger list identifying the names, birth dates, passport numbers and passport expiration dates of all crew and passengers and (ii) a complete ferry flight itinerary, including point of exit
from the United States for the Aircraft. 
 If Customer intends, during the ferry flight of an Aircraft, to land at a U.S. airport after
clearing Customs at delivery, Customer must notify Boeing not later than [*] prior to delivery of such intention. If Boeing receives such notification, Boeing will provide to Customer the documents constituting a Customs permit to proceed,
allowing such Aircraft to depart after any such landing. Sufficient copies of completed Form 7507, along with passenger manifest, will be furnished to Customer to cover U.S. stops scheduled for the ferry flight. 

1.3.3 Export Declaration - U.S. If the Aircraft is intended to be exported from the United States, [*] will submit such Form to
U.S. Customs [*] 
  

	 	2.	INSURANCE CERTIFICATES. 

Unless provided earlier, Customer will provide to Boeing not later than [*] prior to delivery of the first Aircraft, a copy of the
requisite annual insurance certificate in accordance with the requirements of Article 8 of the AGTA. 

  

					
	P.A. No. 3075	 	B-2	  	
		 	  
 BOEING PROPRIETARY
	  	

 Exhibit B to 
 Purchase Agreement No. 3075 
 Page 3 
  

	 	3.	NOTICE OF FLYAWAY CONFIGURATION. 

 Not later than [*] prior to delivery of the Aircraft, Customer will provide to Boeing a configuration letter stating the requested “flyaway configuration” of the Aircraft for its ferry
flight. This configuration letter should include: 
 (i) the name of the company which is to furnish fuel for the
ferry flight and any scheduled post-delivery flight training [*], the method of payment for such fuel, and fuel load for the ferry flight; 

(ii) the cargo to be loaded and where it is to be stowed on board the Aircraft, the address where cargo is to be shipped
after flyaway and notification of any hazardous materials requiring special handling; 
 (iii) any BFE equipment
to be removed prior to flyaway and returned to Boeing BFE stores for installation on Customer’s subsequent Aircraft; 
 (iv) a complete list of names and citizenship of each crew member and non-revenue passenger who will be aboard the ferry flight; and 

(v) a complete ferry flight itinerary. 
  

	 	4.	DELIVERY ACTIONS BY BOEING. 

 4.1 Schedule of Inspections. All FAA, Boeing, Customer and, if required, U.S. Customs Bureau inspections will be scheduled by Boeing for completion prior to delivery or departure of the Aircraft.
Boeing will provide [*] notice to Customer of such inspection schedules. 
 4.2 Schedule of Demonstration Flights. All
FAA and Customer demonstration flights will be scheduled by Boeing for completion prior to delivery of the Aircraft. 
 4.3
Schedule for Customer’s Flight Crew. Boeing will inform Customer of the date that a flight crew is required for acceptance routines associated with delivery of the Aircraft. 

  

					
	P.A. No. 3075	 	B-3	  	
		 	  
 BOEING PROPRIETARY
	  	

 Exhibit B to 
 Purchase Agreement No. 3075 
 Page 4 
  

 4.4 Fuel Provided by Boeing. Boeing will provide to Customer, without charge, the
amount of fuel shown in U.S. gallons in the table below for the model of Aircraft being delivered and [*] at the time of delivery or prior to the ferry flight of the Aircraft. 

 

			
	 Aircraft Model
	  	 Fuel Provided

	[*]	  	[*]
	[*]	  	[*]
	[*]	  	[*]
	[*]	  	[*]
	[*]	  	[*]
	[*]	  	[*]

 4.5 Flight Crew and Passenger Consumables. Boeing will provide reasonable quantities of food, coat
hangers, towels, toilet tissue, drinking cups and soap for the first segment of the ferry flight for the Aircraft. 
 4.6
Delivery Papers, Documents and Data. Boeing will have available at the time of delivery of the Aircraft certain delivery papers, documents and data for execution and delivery. If title for the Aircraft will be transferred to Customer [*]
through Boeing or a Boeing sales subsidiary and if the Aircraft will be registered with the FAA, Boeing will pre-position in Oklahoma City, Oklahoma, for filing with the FAA at the time of delivery of the
Aircraft an executed original Form 8050-2, Aircraft Bill of Sale, indicating transfer of title to the Aircraft from Boeing or Boeing’s sales subsidiary [*]. 

4.7 Delegation of Authority. [*] Boeing will present a certified copy of a Resolution of Boeing’s Board of Directors,
designating and authorizing certain persons to act on its behalf in connection with delivery of the Aircraft. 
  

	 	5.	DELIVERY ACTIONS BY CUSTOMER. 

 5.1 Aircraft Radio Station License. At delivery Customer will provide a copy of its Aircraft Radio Station License [*] to be placed on board the Aircraft following delivery. 

5.2. Aircraft Flight Log. At delivery Customer will provide the Aircraft Flight Log for the Aircraft. 

5.3 Delegation of Authority. Customer will present to Boeing at delivery of the Aircraft an original or certified copy of
Customer’s Delegation of Authority designating and authorizing certain persons to act on its behalf in connection with delivery of the specified Aircraft. 

  

					
	P.A. No. 3075	 	B-4	  	
		 	  
 BOEING PROPRIETARY
	  	

 ESCALATION ADJUSTMENT 

AIRFRAME AND OPTIONAL FEATURES 
 between 
 THE BOEING COMPANY 

and 

AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA 
 Supplemental Exhibit AE1 to Purchase Agreement Number 3075 

  

					
	P.A. No. 3075	  	 AE1
  

BOEING PROPRIETARY
	  	

	1.	Formula. 

 Airframe and
Optional Features price adjustments (Airframe Price Adjustment) are used to allow prices to be stated in current year dollars at the signing of this Purchase Agreement and to adjust the amount to be paid by Customer at delivery for the effects of
economic fluctuation. The Airframe Price Adjustment will be determined at the time of Aircraft delivery in accordance with the following formula: 
 [*] 
 Where: 

 

			
		  	 [*]
  
 Where:
  
 [*]

 

	M =	  	 [*]
  
 Where:
  

[*].

 As an example, for an Aircraft scheduled to be delivered in the month of July, the months of [*] of
the preceding year will be utilized in determining the value of [*]. 
  

			
	Note:	 	 i. In determining the values of L and M, all calculations and resulting values will be expressed as a decimal rounded to the nearest
[*].
  
 ii. [*] Adjustment formula.

 
 iii. [*] Adjustment formula.

 
 iv. [*].

 
 v. [*].

 
 vi. [*].

  

					
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	2.	Values to be Utilized in the Event of Unavailability. 

  

	 	2.1	[*] 

  

	 	2.2	[*]. 

  

	 	2.3	[*]. 

  

	 	2.4	[*]. 

  

					
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	Note:	  	 i. [*]
  
 ii. [*]

  

					
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 APPENDIX E 
 BUYER FURNISHED EQUIPMENT VARIABLES 
 between 

THE Boeing Company 
 and 
 Aerovias del Continente Americano S. A. AVIANCA 

Supplemental Exhibit BFE1 
 to Purchase Agreement Number 3075 

  

					
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 BUYER FURNISHED EQUIPMENT VARIABLES 

relating to 
 BOEING MODEL 787-8 AIRCRAFT 
 This Supplemental Exhibit BFE1 contains
supplier selection dates, on-dock dates and other requirements applicable to the Aircraft. 
  

	1	Supplier Selection  

 Customer will select
and notify Boeing of the suppliers and model/part of the following BFE items by the first day of the following months’ 
  

			
	[*]~	  	[*]~
	[*]~	  	[*]~
	[*]~	  	[*]~
	[*]~	  	[*]~
	[*]~	  	[*]~

  

	2	On-dock Dates and Other Information. 

 Customer and Boeing rights and obligations related to the BFE requirements established in this Supplemental Exhibit BFE1 are set forth in Exhibit A to the AGTA. The first Aircraft BFE seat requirements
and on-dock dates for all BFE items are set forth below. On or before [*], Boeing will also make available to Customer the BFE requirements electronically, in My Boeing Fleet (MBF) through My Boeing Configuration (MBC) or by other
means, setting forth the items, quantities, technical reviews, on-dock dates, shipping instructions and other reasonable requirements relating to the in-sequence installation of BEE. These requirements may be periodically revised by Boeing.

  

					
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 The below “Completion Date” represents the first day of the month by when the
specific milestone must be completed to support the BFE seat program. 
 Customer’s First Aircraft: BFE Premium Class Seat Program
Milestones (First Aircraft 
 Delivery Only) 

 

			
	 Milestone
	  	 Completion Date

	[*]	  	[*]
		
	[*]	  	[*]
		
	[*]	  	[*]
		
	[*]	  	[*]
		
	[*]	  	[*]
		
	[*]	  	[*]

  

					
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 Preliminary On-Dock and Customer Inspection Months 

(Note: All requirements are set forth below. If a month is listed, then the due date is 

the 

first day of the month. If no date is listed, then there is no requirement.) 

 

									
	 Aircraft
 Delivery

Month
	  	  
 Product
	 	 On-Dock

Date at

Supplier
 [*]
	 	 On-Dock

Date at
 Boeing
	 	 Customer

Inspection

	 [*]
	  	 [*]
	 	 	 
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	[*]
	[*]	  	[*]	 	[*]	 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	[*]
	[*]	  	[*]	 	[*]	 		 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	[*]
	[*]	  	[*]	 	[*]	 		 	

  

					
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		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	[*]
	[*]	  	[*]	 	[*]	 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	[*]
	[*]	  	[*]	 	[*]	 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	[*]
	[*]	  	[*]	 	[*]	 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	[*]

  

					
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		  	[*]	 		 		 	
	 [*]
	  	[*]	 	[*]	 		 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	[*]
	 [*]
	  	[*]	 	[*]	 		 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	[*]
	 [*]
	  	[*]	 	[*]	 		 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	[*]
	 [*]
	  	[*]	 	[*]	 		 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	

  

					
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		  	[*]	 		 	[*]	 	[*]
	[*]	  	[*]	 	[*]	 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	[*]
	[*]	  	[*]	 	[*]	 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	[*]
	[*]	  	[*]	 	[*]	 		 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	[*]
	[*]	  	[*]	 	[*]	 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 	[*]	 	
		  	[*]	 		 		 	
		  	[*]	 		 	[*]	 	[*]

  

					
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	2	Additional Delivery Requirements - Import. 

 Customer will be the “importer of record” (as defined by the U.S. Customs and Border Protection) for all BFE imported into the United States, and as such, it has the responsibility to
ensure [*] comply with U.S. Customs Service regulations. In the event Customer requests Boeing, in writing, to act as importer of record for Customer’s BFE, and Boeing agrees to such request, Customer is responsible for ensuring Boeing can
comply with all U.S. Customs Import Regulations by making certain that, at the time of shipment, all BFE shipments comply with the requirements in the ‘‘International Shipment Routing Instructions”, including the Customs Trade
Partnership Against Terrorism (C-TPAT), as set out on the Boeing website referenced below. Customer agrees to include the International Shipment Routing Instructions, including C-TPAT requirements, in each contract between Customer and BFE
supplier. 
 http://www.boeing.com/companyoffices/doingbiz/supplier_portal/index_general.html 

  

					
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 787 CUSTOMER SUPPORT DOCUMENT 

between 
 THE BOEING COMPANY 
 And 

AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA 
 Supplemental Exhibit CS1 to Purchase Agreement Number 3075 
 This document
contains: 
  

			
	Part 1:	  	Maintenance and Flight Training Programs
		
	Part 2:	  	Field Services and Engineering Support Services
		
	Part 3:	  	Technical Information and Materials
		
	Part 4:	  	Alleviation or Cessation of Performance
		
	Part 5:	  	Protection of Proprietary Information and Proprietary Materials

  

					
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 787 CUSTOMER SUPPORT DOCUMENT 

PART 1: BOEING MAINTENANCE AND FLIGHT TRAINING 
 PROGRAMS; OPERATIONS ENGINEERING SUPPORT 
  

	1.	Boeing Training Programs. 

Boeing will provide maintenance training, cabin attendant training, and flight training programs to support the introduction of the
Aircraft into service as provided in this Supplemental Exhibit CS1. 
 1.1 Customer is awarded [*] 

1.2 In addition to the training provided in Article 1.1, Boeing will provide to Customer the following training and services: 

1.2.1 [*] 
 1.2.2
[*] regularly scheduled courses; schedules are published yearly. 
 1.2.3 Additional Flight Operations Services: 

 

	 	a.	[*] Aircraft to Customer’s main base; 

  

	 	b.	[*] below) for revenue service training assistance; 

  

	 	c.	[*]. 

  

					
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 If any part of the training described in this Article 1.2 is not completed by Customer
within [*] months after the delivery of the last Aircraft, Boeing will have no obligation to provide such training. 
  

	2.	Training Schedule and Curricula. 

 2.1 Customer and Boeing will together conduct planning conferences approximately [*] months [*], before the scheduled delivery month of the first Aircraft of a model to define and schedule the
maintenance, flight training and cabin attendant training programs. At the conclusion of each planning conference the parties will document Customer’s course selection, training schedule, and, if applicable, Training Point application and
remaining Training Point balance. 
 2.2 Customer may also request training by written notice to Boeing identifying desired
courses, dates and locations. Within [*] days of Boeing’s receipt of such request Boeing will provide written response to Customer confirming whether the requested courses are available at the times and locations requested by Customer.

  

	3.	Location of Training. 

3.1 Boeing will conduct all training at any of its or its wholly-owned subsidiaries’ training facilities equipped for the model of
Aircraft. Customer shall decide on the location or mix of locations for training, subject to space being available in the desired courses at the selected training facility on the dates desired. 

3.2 If requested by Customer, Boeing will conduct the classroom portions of the maintenance and flight training [*] at a mutually
acceptable alternate training site, subject to the following conditions: 
 3.2.1 Customer will provide acceptable classroom
space, simulators (as necessary for flight training) and training equipment required to present the courses; 
 3.2.2 Customer
will pay Boeing’s [*]; 

  

					
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 3.2.3 Customer will reimburse Boeing for the actual costs of [*]; 

3.2.4 Customer will be responsible for all taxes, fees, duties, licenses, permits and similar expenses incurred by Boeing and its
employees as a result of Boeing’s providing training at the alternate site or incurred as a result of Boeing providing revenue service training; and 
 3.2.5 Those portions of training that require the use of training devices not available at the alternate site will be conducted at Boeing’s facility or at some other alternate site. Customer will be
responsible for additional expenses, if any, which result from the use of such alternate site. 
  

	4.	Training Materials. 

Training Materials will be provided for each student. Training Materials may be used only for either (i) the individual
student’s reference during Boeing provided training and for review thereafter or (ii) Customer’s provision of training to individuals directly employed by the Customer. 

 

	5.	Additional Terms and Conditions. 

 5.1 All training will reflect an airplane configuration defined by (i) Boeing’s standard configuration specification for 787 aircraft, (ii) Boeing’s standard configuration
specification for the minor model of 787 aircraft selected by Customer, and (iii) any Optional Features selected by Customer from Boeing’s standard catalog of Optional Features. Upon Customer’s request, Boeing may provide training
customized to reflect other elements of Customer’s Aircraft configuration subject to a mutually acceptable price, schedule, scope of work and other applicable terms and conditions. 

5.2 All training will be provided in the English language. If translation is required, Customer will provide interpreters. 

5.3 Customer will be responsible for all expenses of Customer’s personnel except that in the Puget Sound region of Washington State
Boeing will [*] 
 5.4 Boeing flight instructor personnel will not be required to work more than [*] days per week, or more than
[*] in any one [*] period [*], of which not more than [*] per [*] workday will be spent in actual flying. These foregoing restrictions will not apply to [*] or [*], which will be governed by FAA rules and regulations. 

  

					
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 5.5 Normal Line Maintenance is defined as line maintenance that Boeing might
reasonably be expected to furnish for flight crew training at Boeing’s facility, and will include ground support and Aircraft storage in the open, but will not include provision of spare parts. Boeing will provide Normal Line Maintenance
services for any Aircraft while the Aircraft is used for flight crew training at Boeing’s facility in accordance with the Boeing Maintenance Plan (Boeing document D6-82076) and the Repair Station Operation and Inspection Manual (Boeing document
D6-25470). Customer will provide such services if flight crew training is conducted elsewhere. Regardless of the location of such training, Customer will be responsible for providing all maintenance items (other than those included in Normal Line
Maintenance) required during the training, including, but not limited to, fuel, oil, landing fees and spare parts. 
 5.6 If the
training is based at Boeing’s facility and the Aircraft is damaged during such training, Boeing will make [*]. 
 5.7 If
the flight training is based at Boeing’s facility, several airports in the surrounding area may be used, at Boeing’s option. Unless otherwise agreed in the flight training planning conference, it will be Customer’s responsibility to
make arrangements for the use of such airports. [*]. 
 5.8 If Boeing agrees to make arrangements on behalf of Customer for the
use of airports for flight training, Boeing will pay on Customer’s behalf any landing fees charged by any airport used in conjunction with the flight training. At least [*] days before flight training, Customer will provide Boeing an open
purchase order against which Boeing will invoice Customer for any landing fees Boeing paid on Customer’s behalf. The invoice will be submitted to Customer approximately [*] days after flight training is completed, when all landing fee charges
have been received and verified. Customer will pay the invoiced amount to Boeing within [*] days of the date of the invoice. 

5.9 If requested by Boeing, in order to provide the flight training or ferry flight assistance, Customer will make available to Boeing an
Aircraft after delivery to familiarize Boeing instructor or ferry flight crew personnel with such Aircraft. If flight of 

  

					
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the Aircraft is required for any Boeing instructor or ferry flight crew member to maintain an FAA license for flight proficiency or landing currency, Boeing will be responsible for the costs of
fuel, oil, landing fees and spare parts attributable to that portion of the flight. 

  

					
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 787 CUSTOMER SUPPORT DOCUMENT 

PART 2: FIELD AND ENGINEERING SUPPORT SERVICES 

 

	1.	Field Service Representation. 

 Boeing will furnish field service representation to advise Customer with respect to the maintenance and operation of the Aircraft (Field Service Representatives). 

1.1 Field Service representation will be available at or near Customer’s main maintenance or engineering facility beginning before
the scheduled delivery month of the first Aircraft and ending 12 months after delivery of the last Aircraft covered by a specific purchase agreement. 
 1.2 [*] Customer will provide, at no charge to Boeing, suitable furnished office space and office equipment, including internet capability for electronic access of data, at the location where Boeing is
providing Field Service Representatives. As required, Customer will assist each Field Service Representative with visas, work permits, customs, mail handling, identification passes and formal introduction to local airport authorities. 

1.3 Boeing’s Field Service Representatives are assigned to various airports and other locations around the world. Whenever
Customer’s Aircraft are operating through any such airport, the services of Boeing’s Field Service Representatives are available to Customer. 
  

	2.	Engineering Support Services. 

 2.1 Boeing will, if requested by Customer, provide technical advisory assistance from the Seattle area or at a base designated by Customer as appropriate for any Aircraft or Boeing Product (as defined in
Part 1 of Exhibit C of the AGTA). Technical advisory assistance, provided, will include: 
 2.1.1 Analysis of the information
provided by Customer to determine the probable nature and cause of operational problems and suggestion of possible solutions. 

2.1.2 Analysis of the information provided by Customer to determine the nature and cause of unsatisfactory schedule reliability and the
suggestion of possible solutions. 

  

					
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 2.1.3 Analysis of the information provided by Customer to determine the nature and cause of
unsatisfactory maintenance costs and the suggestion of possible solutions. 
 2.1.4 Analysis and commentary on Customer’s
engineering releases relating to structural repairs not covered by Boeing’s Structural Repair Manual including those repairs requiring advanced composite structure design. 
 2.1.5 Analysis and commentary on Customer’s engineering proposals for changes in, or replacement of, systems, parts, accessories or equipment manufactured to Boeing’s detailed design. Boeing
will not analyze or comment on any major structural change unless Customer’s request for such analysis and comment includes complete detailed drawings, substantiating information (including any information required by applicable government
agencies), all stress or other appropriate analyses, and a specific statement from Customer of the substance of the review and the response requested. 
 2.1.6 [*] evaluation of Customer’s technical facilities, tools and equipment for servicing and maintaining 787 aircraft, recommendation of changes where necessary and assistance in the formulation of
an initial maintenance plan for the introduction of the first Aircraft into service. 
 2.1.7 Assistance with the analysis and
preparation of performance data to be used in establishing operating practices and policies for Customer’s operation of Aircraft. 
 2.1.9 Assistance with interpretation of the minimum equipment list, the definition of the configuration deviation list and the analysis of individual Aircraft performance. 

2.1.9 Assistance with solving operational problems associated with delivery and route-proving
flights. 
 2.1.10 Information regarding significant service items relating to Aircraft performance or flight operations.

 2.1.11 [*] 
 2.1.12 [*] 

  

					
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 2.2 Boeing will, if requested by Customer, perform work on an Aircraft after delivery but
prior to the initial departure flight or upon the return of the Aircraft to Boeing’s facility prior to completion of that flight. The following conditions will apply to Boeing’s performance: 

2.2.1 Boeing may rely upon the commitment authority of the Customer’s personnel requesting the work. 

2.2.2 As title and risk of loss has passed to Customer, the insurance provisions of Article 8.2 of the AGTA apply. 

2.2.3 The provisions of the Boeing Warranty in Part 2 of Exhibit C of the AGTA apply. 

2.2.4 Customer will pay Boeing for requested work not covered by the Boeing Warranty, if any. 

2.2.5 The DISCLAIMER AND RELEASE and EXCLUSION OF CONSEQUENTIAL AND OTHER DAMAGES provisions in Article 11 of Part 2 of
Exhibit C of the AGTA apply. 
 2.3 Boeing may, at Customer’s request, provide services other than those described in
Articles 2.1 and 2.2 of this Supplemental Exhibit CS1 for an Aircraft after delivery, which may include, but not be limited to, retrofit kit changes (kits and/or information), training, flight services, maintenance and repair of Aircraft (Additional
Services). Such Additional Services will be subject to a mutually acceptable price, schedule, scope of work and other applicable terms and conditions. The DISCLAIMER AND RELEASE and the EXCLUSION OF CONSEQUENTIAL AND OTHER DAMAGES provisions in
Article 11 of Part 2 of Exhibit C of the AGTA and the insurance provisions in Article 8.2 of the AGTA will apply to any such work. Title to and risk of loss of any such Aircraft will always remain with Customer. 

  

					
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 787 CUSTOMER SUPPORT DOCUMENT 

PART 3: TECHNICAL INFORMATION AND MATERIALS 
  

	1.	General. 

Materials are defined as any and all items that are created by Boeing or a third party, which are provided directly or indirectly
from Boeing and serve primarily to contain, convey or embody information. Materials may include either tangible embodiments (for example, documents or drawings), or intangible embodiments (for example, software and other electronic forms) of
information but excludes Aircraft Software. Aircraft Software is defined as software that is installed on and used in the operation of the Aircraft. 
 Customer Information is defined as that data provided by Customer to Boeing which falls into one of the following categories: (i) aircraft operational information (including, but not limited to,
flight hours, departures, schedule reliability, engine hours, number of aircraft, aircraft registries, landings, and daily utilization and schedule interruptions for Boeing model aircraft); (ii) summary and detailed shop findings data;
(iii) aircraft readiness log data; (iv) non-conformance reports; (v) line maintenance data; (vi) airplane message data, (vii) scheduled maintenance data, and (viii) service bulletin incorporation. 

Upon execution by Customer of Boeing’s standard form Customer Services General Terms Agreement and Supplemental Agreement for
Electronic Access Boeing will provide to Customer through electronic access certain Materials to support the maintenance and operation of the Aircraft. Such Materials will, if applicable, be prepared generally in accordance with Air Transport
Association of America (ATA) iSpec 2200, entitled “Specification for Manufacturers” Technical Data.” Materials not covered by iSpec 2200 will be provided in a structure suitable for the Material’s intended use. Materials will be
in English and in the units of measure used by Boeing to manufacture an Aircraft. 
  

	2.	Materials Planning Conferences. 

 Customer and Boeing will conduct planning conferences approximately [*] months, [*] before the scheduled delivery month of the first Aircraft in order to mutually determine (i) the Materials to be
furnished to Customer in support of the Aircraft, (ii) the Customer Information to be furnished by Customer to Boeing, (iii) the update cycles of the Materials to be furnished to Customer, (iv) the update cycles of

  

					
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the Customer Information to be furnished to Boeing, (v) any Customer preparations necessary for Customer’s transmittal of Customer Information to Boeing, and (vi) any Customer preparations
necessary for Customer’s electronic access to the Materials. 
  

	3.	Technical Data and Maintenance Information. 

 Boeing will provide technical data and maintenance information equivalent to that traditionally provided in the following manuals and documents. [*] 

 

	 	a)	Flight Operations Information. 

 [*] 
  

	 	b)	Maintenance Information. 

[*] 

  

					
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	 	c)	Maintenance Planning. 

[*] 
  

	 	d)	Spares Information. 

 [*]

  

	 	e)	Airplane & Airport Information. 

 [*] 
  

	 	f)	Shop Maintenance. 

 [*]

  

	 	g)	[*] 

  

					
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	4.	Advance Representative Materials. 

 Boeing will select all advance representative Materials from available sources and whenever possible will provide them through electronic access. Such advance Materials will be for advance planning
purposes only. 
  

	5.	Customized Materials. 

All customized Materials will reflect the configuration of each Aircraft as delivered. 

 

	6.	Revisions. 

 6.1 The
schedule for updating certain Materials will be identified in the planning conference. Such updates will reflect changes to Materials developed by Boeing. 
 6.2 [*]. 
  

	7.	Supplier Technical Data. 

7.1 For supplier-manufactured programmed airborne avionics components and equipment classified as
Seller Furnished Equipment (SFE) or Seller Purchased Equipment (SPE) or Buyer Designated Equipment (BDE) which contain computer software designed and developed in accordance with Radio Technical Commission for Aeronautics
Document No. RTCA/DO-178 dated January 1982, No. RTCA/DO-178A dated March 1985, or later as available, Boeing will request that each supplier of the components
and equipment make software documentation available to Customer. 
 7.2 The provisions of this Article will not be applicable to
items of BFE. 
 7.3 Boeing will furnish to Customer a document identifying the terms and conditions of the product support
agreements between Boeing and its suppliers requiring the suppliers to fulfill Customer’s requirements for information and services in support of the Aircraft. 

  

					
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	8.	Buyer Furnished Equipment Data. 

 [*]. 
  

	9.	Customer’s Shipping Address. 

 From time to time Boeing may furnish certain Materials or updates to Materials by means other than electronic access. Customer will specify a single address and Customer shall promptly notify Boeing of
any change to that address. Boeing will pay the reasonable shipping costs of the Materials. Customer is responsible for any customs clearance charges, duties, and taxes. 

  

					
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 787 CUSTOMER SUPPORT DOCUMENT 

PART 4: ALLEVIATION OR CESSATION OF PERFORMANCE 
 Boeing will not be required to provide any Materials, services, training or other things at a facility designated by Customer if any of the following conditions exist: 

 

	 	1.	[*]; 

  

	 	2.	[*]; 

  

	 	3.	[*]; 

  

	 	4.	[*] 

  

	 	5.	[*]. 

 After the location of Boeing personnel at
the facility, Boeing further reserves the right, upon the occurrence of any of such events, to immediately and without prior notice to Customer relocate its personnel and their families. 

787 CUSTOMER SUPPORT DOCUMENT 
 PART 5: PROTECTION OF PROPRIETARY INFORMATION 
 AND PROPRIETARY MATERIALS

  

	1.	General. 

 All Materials
provided by Boeing to Customer and not covered by a Boeing CSGTA or other agreement between Boeing and Customer defining Customer’s right to use and disclose the Materials and included information will be covered by and subject to the terms of
the AGTA as amended by the terms of the Purchase Agreement. Title to all 

  

					
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Materials containing, conveying or embodying confidential, proprietary or trade secret information (Proprietary Information) belonging to Boeing or a third party (Proprietary Materials), will at
all times remain with Boeing or such third party. Customer will treat all Proprietary Materials and all Proprietary Information in confidence and use and disclose the same only as specifically authorized in the AGTA as amended by the terms of the
Purchase Agreement. 
  

	2.	License Grant. 

 2.1
Boeing grants to Customer a worldwide, non-exclusive, non-transferable license to use and disclose Proprietary Materials in accordance with the terms and conditions of the AGTA as amended by the terms of the
Purchase Agreement, for as long as Customer operates the Aircraft. [*] 
 2.2 Customer grants to Boeing a perpetual, world-wide,
non-exclusive license to use and disclose Customer Information or derivative works thereof in Boeing data and information products and services provided indicia identifying Customer Information as originating from Customer is removed from such
Customer Information. 
  

	3.	Use of Proprietary Materials and Proprietary Information. 

 Customer is authorized to use Proprietary Materials and Proprietary Information for the purpose of: (a) operation, maintenance, repair, or modification of Customer’s Aircraft for which the
Proprietary Materials and Proprietary Information have been specified by Boeing and (b) development and manufacture of training devices and maintenance tools for use by Customer. 

 

	4.	Providing of Proprietary Materials to Contractors. 

 Customer is authorized to provide Proprietary Materials to Customer’s contractors for the sole purpose of maintenance, repair, or modification of Customer’s Aircraft for which the Proprietary
Materials have been specified by Boeing. In addition, Customer may provide Proprietary Materials to Customer’s contractors for the sole purpose of developing and manufacturing training devices and maintenance tools for Customer’s use.
Before providing Proprietary Materials to its contractor, Customer will first obtain a written agreement from the contractor by which the contractor agrees (a) to use the Proprietary Materials only on behalf of Customer, (b) to be bound by
all of the restrictions and limitations of this Part 5, and (c) that Boeing is a third party beneficiary under the written agreement. Customer agrees to provide copies of all such written

  

					
	P.A. No. 3075	  	 CS1
  

BOEING PROPRIETARY
  

5-2
	  	

 
agreements to Boeing upon request and be liable to Boeing for any breach of those agreements by a contractor. A sample agreement acceptable to Boeing is attached as Appendix VII to the AGTA.

  

	5.	Providing of Proprietary Materials and Proprietary Information to Regulatory Agencies. 

5.1 When and to the extent required by a government regulatory agency having jurisdiction over Customer or an Aircraft, Customer is
authorized to provide Proprietary Materials and to disclose Proprietary Information to the agency for use in connection with Customer’s operation, maintenance, repair, or modification of such Aircraft. Customer agrees to take all reasonable
steps to prevent the agency from making any distribution, disclosure, or additional use of the Proprietary Materials and Proprietary Information provided or disclosed. Customer further agrees to notify Boeing immediately upon learning of any
(a) distribution, disclosure, or additional use by the agency, (b) request to the agency for distribution, disclosure, or additional use, or (c) intention on the part of the agency to distribute, disclose, or make additional use of
Proprietary Materials or Proprietary Information. 
 5.2 In the event of an Aircraft or Aircraft systems-related incident, the
Customer may [*] 

  

					
	P.A. No. 3075	  	 CS1
  

BOEING PROPRIETARY
  

5-3
	  	

 ENGINE ESCALATION AND 

ENGINE WARRANTY 
 between 
 THE BOEING COMPANY 

and 
 AEROVIAS
DEL CONTINENTE AMERICANO S.A. AVIANCA 
 Supplemental Exhibit EE1 to Purchase Agreement Number 3075 

  

					
	P.A. No. 3075	  	 EE1
  

BOEING PROPRIETARY
	  	

	1.	ENGINE ESCALATION. 

 The Aircraft Basic
Price of each Aircraft set forth in Table 1 of the Purchase Agreement includes an aggregate price for Rolls-Royce plc Trent 1000 series engines and all accessories, equipment and parts provided by the engine manufacturer (Engines). The adjustment in
Engine Price applicable to each Aircraft (Engine Price Adjustment) will be determined at the time of Aircraft delivery in accordance with the following formula: 
 [*] 
 Where: 

[*] 
 Where:

 [*] 

  

					
	 P.A. No. 3075
	  	 EE1 - 1
  

BOEING PROPRIETARY
	  	

	 	M=	[*] 

 As an example, for an
Aircraft scheduled to be delivered in the month of July, the months [*] of the preceding year will be utilized in determining the value of [*]. 
  

			
	Note:	 	i. In determining the values of L and M, all calculations and resulting values will be expressed as a decimal rounded to the nearest [*].
		
		 	 ii. [*].

		
		 	iii. [*].
		
		 	iv. [*]

  

					
	P.A. No. 3075	  	 EE1 - 2
  

BOEING PROPRIETARY
	  	

			
		  	Price base year. The applicable base year and corresponding denominator is provided by Boeing in Table 1 of this Purchase Agreement.
		
		  	v. [*].
		
		  	vi. [*].

  

	2.	Values to be Utilized in the Event of Unavailability. 

  

	 	2.1	[*]. 

  

	 	2.2	[*]. 

  

	 	2.3	[*]. 

  

	 	2.4	[*]. 

  

					
	P.A. No. 3075	  	 EE1 - 3
  

BOEING PROPRIETARY
	  	

			
	Note:	  	i. [*]
		
		  	ii. [*].

  

	3.	Engine Warranty. 

 [*]. 

  

					
	P.A. No. 3075	  	 EE1 - 4
  

BOEING PROPRIETARY
	  	

 SERVICE LIFE POLICY COMPONENTS 

between 
 THE
BOEING COMPANY 
 and 
 AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA 
 Supplemental Exhibit SLP1 to
Purchase Agreement Number 3075 
  

					
	P.A. No. 3075	  	 SLP1

 
	  	
		  	BOEING PROPRIETARY	  	

 COVERED SERVICE LIFE POLICY COMPONENTS 

relating to 

BOEING MODEL 787 AIRCRAFT 
 This
is the listing of Covered Components for the Aircraft which relate to Part 3, Boeing Service Life Policy of Exhibit C, Product Assurance Document to the AGTA and is a part of Purchase Agreement No. 3075. 

 

	1.	[*]. 

  

	 	(a)	[*]. 

  

	 	(b)	[*]. 

  

	 	(c)	[*]. 

  

	 	(d)	[*]. 

  

	 	(e)	[*]. 

  

	 	(f)	[*]. 

  

	 	(g)	[*]. 

  

	 	(h)	[*]. 

  

	 	(i)	[*]. 

  

	 	(j)	[*]. 

  

	 	(k)	[*]. 

  

	 	(l)	[*]. 

  

	 	(m)	[*]. 

  

					
	P.A. No. 3075	  	 SLP1-1
  

BOEING PROPRIETARY
	  	

	2.	[*]. 

  

	 	(a)	[*]. 

  

	 	(b)	[*]. 

  

	 	(c)	[*]. 

  

	 	(d)	[*]. 

  

	 	(e)	[*]. 

  

	 	(f)	[*]. 

  

	 	(g)	[*]. 

  

	 	(h)	[*]. 

  

	 	(i)	[*]. 

  

	 	(j)	[*] 

  

					
	P.A. No. 3075	  	 SLP1-2
  

BOEING PROPRIETARY
	  	

	3.	[*]. 

  

	 	(a)	[*]. 

  

	 	(b)	[*]. 

  

	 	(c)	[*]. 

  

	 	(d)	[*]. 

  

	 	(e)	[*]. 

  

	 	(f)	[*]. 

  

	 	(g)	[*]. 

  

	4.	[*]. 

  

	 	(a)	[*]. 

  

	 	(b)	[*] 

  

	 	(c)	[*]. 

  

	 	(d)	[*]. 

  

	 	(e)	[*]. 

  

	 	(f)	[*]. 

  

	5.	[*]. 

  

	 	(a)	[*]. 

  

	 	(b)	[*]. 

  

	 	(c)	[*]. 

  

	 	(d)	[*]. 

  

					
	P.A. No. 3075	  	 SLP1-3
  

BOEING PROPRIETARY
	  	

	6.	[*]. 

  

	 	(a)	[*]. 

  

	 	(b)	[*]. 

  

	 	(c)	[*] 

  

	 	(d)	[*]. 

  

	 	(e)	[*]. 

  

	 	(f)	[*]. 

  

	 	(g)	[*]. 

  

	 	(h)	[*] 

  

	 	(i)	[*]. 

  

	7.	[*]. 

  

	 	(a)	[*]. 

  

	 	(b)	[*]. 

  

	 	(c)	[*]. 

  

	 	(d)	[*]. 

  

	 	(e)	[*]. 

  

	 	(f)	[*]. 

 NOTE: The Service
Life Policy does not cover standard parts, such as, any bearings, bolts, bushings, clamps, brackets, actuating mechanisms or latching mechanisms used in or on the Covered Components. 

  

					
	P.A. No. 3075	  	 SLP1-4
  

BOEING PROPRIETARY
	  	

	
	  
 

  
  
  

 
  

 

  

					
		  	 The Boeing Company
 P.O.
Box 3707
 Seattle, WA 98124-2207
	  	

 3075-01 

Aerovias del Continente Americano S.A. AVIANCA 

Centro Administrativo 
 Avenida El Dorado -
No. 92-30 
 Bogota 
 Colombia

  

			
	Subject:	  	Model 787 Open Configuration Matters
		
	Reference:	  	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to Model 787-859
aircraft (the Aircraft)

 This Letter Agreement amends the Purchase Agreement. All terms used but not defined in this Letter Agreement have the
same meaning as in the Purchase Agreement. 
 1. Aircraft Configuration. 

1.1 Initial Configuration. The initial configuration of Customer’s Model 787-8 Aircraft has been defined by Boeing Model 787
Aircraft Description and Selections Document Number 787B1-0227 Revision H dated August 8, 2006, which reflects the Boeing baseline Model 787-8 LOPA YS6308B as described in Article 1, Table 1 and Exhibit A of the
Purchase Agreement. Given the developing design of the Model 787 aircraft and the long period of time between Purchase Agreement signing and delivery of the first Aircraft, the final configuration of the Customer’s Aircraft has not yet been
defined. 
 1.2 Final Configuration Schedule. Customer and Boeing hereby agree to complete the configuration of the
Aircraft no later than [*], using the then current Model 787 Aircraft Description and Selections Document (Final Configuration). 
 P.A.
No. 3075 
 Open Configuration Matters 
 BOEING PROPRIETARY 

 

  

 Aerovias del Continente Americano S.A. AVIANCA 
 3075-01    Page 2 

 

  

  
 

 
  

 2. Amendment of the Purchase Agreement. Within [*] days following Final Configuration pursuant to
Article 1.2, above, Boeing and Customer will execute a written amendment to the Purchase Agreement which will reflect the following: 
 2.1 Changes applicable to the basic Model 787 aircraft which are developed by Boeing between the [*] pursuant to Article 1.2, above ([*]); 

2.2 Incorporation into Exhibit A of the Purchase Agreement of those Customer Selections which have been agreed to by Customer and Boeing
(Customer Configuration Changes); 
 2.3 Revisions to the [*]. 

2.4 Changes to the Optional Features Price, Aircraft Basic Price and the Advance Payment Base Price of the Aircraft to adjust for
(i) the difference, if any, between the [*]. 
 3. Other Letter Agreements. 

Boeing and Customer acknowledge that as the definition of the Aircraft progresses, there may be a need to execute letter agreements
addressing one or more of the following subjects: 
 3.1 [*]. 

3.2 [*].

 

  

 Aerovias del Continente Americano S.A. AVIANCA 
 3075-01    Page 3 

 

  

  
 

 
  

 3.3 [*]. 

 

			
	Very truly yours,
	
	THE BOEING COMPANY
		
	By	 	 Dennis Egge

		
	Its	 	
Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
	
	Date: 03 October, 2006
	
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	By	 	  

		
	Its	 	 CFO

 
 

 Attachment A to Open Configuration Matters 
 Letter Agreement No. 3075-01 
 787-8 

[*] 
  

																									
	ALL PRICES QUOTED IN [*]	  	 	 	  	BASELINE
SPEC
274 PAX B870292, AD&S Rev H	 
						
	 	  	 	 	  	QUANTITY	 	  	PRICE	 	  	 	 	  	TOTAL	 
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
		  				  				  				  				  				  	  
	  
	 
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 TOTAL
	  				  				  				  				  				  			

 1) [*]. 
 2) [*]. 

	
	  
 

  
  
  

 
  

 

  

					
		  	 The Boeing Company
 P.O.
Box 3707
 Seattle, WA 98124-2207
	  	

 3075-02 

Aerovias del Continente Americano S.A. AVIANCA 

Centro Administrativo 
 Avenida El Dorado -
No. 92-30 
 Bogota 
 Colombia

  

			
	Subject:	  	Spare Parts Commitments
		
	Reference:	  	a) Purchase Agreement No. 3133 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to
Model 787-859 aircraft (the Aircraft)
		
		  	b) Customer Services General Terms Agreement No. AVI (CSGTA) between Boeing and Customer

 This letter agreement (Letter Agreement) is entered into of the date set forth below, and amends and supplements the
CSGTA. All capitalized terms used but not defined in this Letter Agreement have the same meaning as in the CSGTA, except for “Aircraft” which will have the meaning as defined in the Purchase Agreement. Unless otherwise stated all
references in this Letter Agreement to Articles refer to the Articles contained this Letter Agreement. In consideration of Customer’s purchase of the Aircraft, the commitments described in this Letter Agreement will continue for as long as
Customer owns or operates the Aircraft. 
 1. Definitions. 

1.1 “Customer’s Demand Date” means the delivery date specified by Customer in its Order to Boeing for a Spare Part.

 1.2 “Customer Hold Time” means the period of time between the date on which Boeing requests a decision,
information or act from Customer and the date Customer provides such decision or information or performs such act. This includes, but is not limited to time expended [*], (ii) [*], (iii) [*], (iv) [*], and (v) [*]. 

P.A. No. 3075 
 Spare Parts Commitments

 BOEING PROPRIETARY

 

  

 Aerovias del Continente Americano S.A. AVIANCA 
 3075-02    Page 2 

 

  

 

 
  

 1.3 “Beyond Economic Repair” or “BER” is the term applied
to a part whose repair or overhaul will exceed [*]% of Boeing’s then current price for a new such replacement part. 
 1.4
“Excusable Delay” for the purposes of this Letter Agreement means “Excusable Delay” as defined in the CSGTA. 
 1.5 “Order Date” means the date on which an Order is established in accordance with the provisions of the CSGTA. 
 1.6 “Shelf Stock Part” means at any time a Spares Prone Part that has been ordered [*] or more times from Boeing within the most recent consecutive [*] month period. 

1.7 “Spares Prone Part” means a Boeing Spare Part that is identified and recommended by Boeing in its provisioning data
as a part that for the life of the aircraft can be expected to be replaced during normal aircraft line maintenance or during overhaul of line replaceable units due to, failure, wear, deterioration, maintenance, damage, loss, corrosion, vibration, or
temperature. 
 2. Delivery Commitment for New Spare Parts. 

2.1 Boeing will deliver in accordance with the provisions of the CSGTA within the lead times specified below, Boeing Spare Parts other
than (i) Boeing Spare Parts ordered as part of Customer’s initial provisioning for an aircraft or (ii) kits; provided that such Boeing Spare Parts are Ordered after either [*], or the execution of this Letter Agreement, whichever is
later, and are in continuous production for an aircraft model in production on the Order Date. 
 2.1.1 A Shelf Stock Part will
ship either (i) in not more than [*] calendar days from its Order Date, or (ii) prior to Customer’s Demand Date, whichever is later. 
 2.1.2 A Spares Prone Part that is not a Shelf Stock Part will ship either (i) in not more than [*] calendar days from its Order Date, or (ii) prior to Customer’s Demand Date, whichever is
later. 
 2.2 For Boeing Spare Parts not in continuous production on the Order Date, Boeing will expend commercially reasonable
efforts to meet Customer’s Demand Date. 

 

 

  
  

 P.A. No. 3075 
 Spare Parts Commitments 

 

  

 Aerovias del Continente Americano S.A. AVIANCA 
 3075-02    Page 3 

 

  

 

 
  

 3. Remedies Regarding Delivery. 

3.1 If Boeing anticipates it will be unable to ship a Boeing Spare Part within the applicable commitment time described in Article 2.1,
Boeing will use commercially reasonable efforts to take one or more of the following actions: 
 3.1.1 [*]; or 

3.1.2 [*]; or 

3.1.3 [*]. 

3.2 If as a result of an action described in Article 3.1, Boeing provides to Customer the applicable Boeing Spare Part within the
commitment period described in Article 2.1 or provides [*] in accordance with Article 3.1.3, and, in either case, thereafter completes the Order as soon as such Boeing Spare Part is available for shipment, Boeing shall be deemed to have satisfied
the commitments described in Article 2.1. 
 3.3 Subject to the limitations described in Article 3.4, if Boeing in the exercise
of its commercially reasonable efforts is unable to satisfy the requirements of Article 2.1 through one or more of the actions described in Article 3.1, Boeing will provide [*] to the Customer [*] of Boeing’s then current list price of the
Boeing Spare Part for each calendar day the delivery of such Boeing Spare Part is delayed, but not to exceed Boeing’s then current list price for such Boeing Spare Part. 
 3.4 The provisions of Article 3.3 will not apply to delay in delivery which is due to (i) the failure of Customer’s carrier to take possession of the Boeing Spare Parts, or (ii) is
otherwise permitted by applicable law or contract, including without limitation any provisions relating to Excusable Delay. 

3.5 The remedies described in this Article 3 are Customer’s exclusive remedies for Boeing’s failure to comply with the
provisions of Articles 2.1 and are in lieu of all other damages, claims and remedies of Customer arising at law or otherwise for any failure to meet Customer’s delivery requirements. Customer hereby waives and renounces all other claims and
remedies arising at law or otherwise for any such failure to meet Customer’s delivery requirements. 
 4. [*]. 

[*] 

 

 

  
  

 P.A. No. 3075 
 Spare Parts Commitments 

 

  

 Aerovias del Continente Americano S.A. AVIANCA 
 3075-02    Page 4 

 

  

 

 
  

 5. [*]. 
 5.1 [*]. 

 

 

  
  

 P.A. No. 3075 
 Spare Parts Commitments 

 

  

 Aerovias del Continente Americano S.A. AVIANCA 
 3075-02    Page 5 

 

  

 

 
  

 5.2. [*] 
 5.3 [*] 
 6. Processing Time Commitment for Spare Prone Parts Returned for Repair or
Overhaul. 
 6.1 The processing time commitments in this Article 6 are for any Spares Prone Part which (i) [*]
(ii) [*], (iii) [*], and (iv) [*]. A Spares Prone Part meeting the criteria defined in this Article 6.1 shall be called a “Qualifying In-Production Spares Prone Part.” 

6.2 [*] 
 6.3
[*]. 
 6.4 [*].

 

 P.A. No. 3075 
 Spare Parts Commitments 

 

  

 Aerovias del Continente Americano S.A. AVIANCA 
 3075-02    Page 6 

 

  

 

 
  

 7. Remedies Regarding Processing Time. 

7.1 If Boeing anticipates it will be unable to meet the processing time commitments established in Article 6.2, Boeing will use
commercially reasonable efforts to take one or more of the following actions: 
 7.1.1 [*] 

7.1.2 [*] 

7.1.3 [*]. 

7.2 If as a result of an action described in Article 7.1, Boeing provides to Customer a [*] within the commitment periods described in
Article 6.2, or provides [*] in accordance with Article 7.1.3, and in either case, thereafter completes the applicable contract as soon as such [*] is available for shipment, Boeing will be deemed to have satisfied the commitments described in
Article 6.2. 
 7.3 Subject to the limitations described in Article 7.4, if Boeing in the exercise of its [*] is unable to
satisfy the requirements of Article 6.2 through one or more of the actions described in Article 7.1, Boeing will provide a [*] to the Customer [*]. 
 7.4 The provisions of Article 7.3 will not apply to delay in delivery which is due to (i) Customer Hold Time, (ii) the failure of Customer’s carrier to take possession of the applicable
Qualifying In-Production Spares Prone Part, or (iii) is otherwise permitted by applicable law or contract, including without limitation any provisions relating to Excusable Delay. 

7.5 The remedies provided in this Article 7 are Customer’s exclusive remedies for Boeing’s failure to comply with the
provisions of Article 6.2 and are in lieu of all other damages, claims and remedies of Customer arising at law or otherwise for any failure to meet Customer’s delivery requirements. Customer hereby waives and renounces all other claims and
remedies arising at law or otherwise for any such failure to meet Customer’s delivery requirements. 

 

 P.A. No. 3075 
 Spare Parts Commitments 

 

  

 Aerovias del Continente Americano S.A. AVIANCA 
 3075-02    Page 7 

 

  

 

 
  

 8. Substitution for Obsolete Spare Parts. 

After delivery of the first Aircraft, if any unused and undamaged Spare Part purchased by Customer from Boeing for the Aircraft, or other
aircraft in Customer’s fleet of the same model type, is rendered obsolete and unusable due to a Boeing initiated change that results in a redesign of the Aircraft or any accessory, equipment or part thereof, (other than a redesign at
Customer’s request), Boeing will [*]. 
 9. Order of Precedence. 
 In the event of any inconsistency between the terms of this Letter Agreement and the terms of any other provisions of the CSGTA, the terms of this Letter Agreement shall control. 

 

			
	Very truly yours,
	
	THE BOEING COMPANY
		
	By	 	 Dennis Egge

		
	Its	 	
Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
	Date: 03 October, 2006
	
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	By	 	  

		
	Its	 	 CFO

  

 

 P.A. No. 3075 
 Spare Parts Commitments 

 

	
	  
 

  
  
  

 
  

 

  

					
		  	 The Boeing Company
 P.O.
Box 3707
 Seattle, WA 98124-2207
	  	

 3075-03 
 Aerovias del Continente Americano S.A. AVIANCA 
 Centro Administrativo 

Avenida El Dorado - No. 92-30 
 Bogota 
 Colombia 

 

							
		 	 Subject: Spare Parts Initial Provisioning
				
		 	 Reference:	  	a)	  	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to
Model 787-859 aircraft (the Aircraft)
				
		 		  	b)	  	Customer Services General Terms Agreement No. AVI (CSGTA) between Boeing and Customer

This letter agreement (Letter Agreement) is entered into on the date below and amends and supplements the CSGTA. All capitalized terms
used but not defined in this Letter Agreement have the same meaning as in the CSGTA, except for “Aircraft” which will have the meaning as defined in the Purchase Agreement. 

In order to define the process by which Boeing and Customer will (i) identify those Spare Parts and Standards critical to
Customer’s successful introduction of the Aircraft into service and its continued operation, (ii) place Orders under the provisions of the CSGTA as supplemented by the provisions of this Letter Agreement for those Spare Parts and
Standards, and (iii) manage the return of certain of those Spare Parts which Customer does not use, the parties agree as follows. 
  

	 	1.	Definitions. 

“Provisioning Data” means the documentation provided by Boeing to Customer, including but not limited to the Recommended
Spare Parts List (RSPL), identifying all Boeing initial provisioning requirements for the Aircraft. 
 “Provisioning
Items” means the Spare Parts and Standards identified by Boeing as initial provisioning requirements in support of the Aircraft, excluding special tools, ground support equipment (GSE), quick engine change (QEC) kits, engines and engine
parts. 
 P.A. No. 3075 
 Spare Parts
Initial Provisioning 
 BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americano S.A. AVIANCA 
 3075-03    Page 2 

 

  

  
 

 
  

 “Provisioning Products Guide” means the Boeing Manual D6-81834 entitled
“Spares Provisioning Products Guide”. 
  

	 	2.	Phased Provisioning. 

 2.1 Provisioning Products Guide. Prior to the initial provisioning meeting Boeing will furnish to Customer a copy of the Provisioning Products Guide. 

2.2 Initial Provisioning Meeting. On or about [*] months prior to delivery of the first Aircraft the parties will
conduct an initial provisioning meeting]as applicable, where the procedures, schedules, and requirements for training will be established to accomplish phased provisioning of Spare Parts and Standards for the Aircraft in accordance with the
Provisioning Products Guide. If the lead time from execution of the Purchase Agreement until delivery of the first Aircraft is less than [*], the initial provisioning meeting will be established as soon as reasonably possible after execution of the
Purchase Agreement. 
 2.3 Provisioning Data. During the initial provisioning meeting Customer will
provide to Boeing the operational parameter information described in Chapter 6 of the Provisioning Products Guide. After review and acceptance by Boeing of such Customer information, Boeing will prepare the Provisioning Data. Such Provisioning Data
will be furnished to Customer on or about [*] days after Boeing finalizes the engineering drawings for the Aircraft. The Provisioning Data will be as complete as possible and will cover Provisioning Items selected by Boeing for review by Customer
for initial provisioning of Spare Parts and Standards for the Aircraft. Boeing will furnish to Customer revisions to the Provisioning Data until approximately [*] following delivery of the last Aircraft or until the delivery configuration of each of
the Aircraft is reflected in the Provisioning Data, whichever is later. 
 2.4 Buyer Furnished Equipment (BFE) Provisioning
Data. 
 Unless otherwise advised by Boeing, Customer will provide or insure its BFE suppliers provide to Boeing the BFE data
in scope and format acceptable to Boeing, in accordance with the schedule established during the initial provisioning meeting. 
  

	3.	Purchase from Boeing of Spare Parts and Standards as Initial Provisioning for the Aircraft. 

3.1 Schedule. In accordance with schedules established during the initial provisioning meeting, Customer may place
Orders for Provisioning Items and any GSE, special tools, QEC kits, or engine spare parts which Customer determines it will initially require for maintenance, overhaul and servicing of the Aircraft and/or engines.

 

 

  
  

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 3.2 Prices of Initial Provisioning Spare Parts. 

3.2.1 Boeing Spare Parts. The Provisioning Data will set forth the prices for those Provisioning Items other than
items listed in Article 3.3, below, that are Boeing Spare Parts, and such prices will be [*] to Customer in the Provisioning Data. 
 3.2.2 Supplier Spare Parts. Boeing will provide [*] in the Provisioning Data for Provisioning Items other than items listed in Article 3.3, below, that are Supplier Spare Parts. The price to
Customer for any Supplier Spare Parts that are Provisioning Items or for any items ordered for initial provisioning of GSE, special tools manufactured by suppliers, QEC kits, or engine spare parts will be [*] of the supplier’s list price for
such items. 
 3.3 Standards Kits, Raw Material Kits, Bulk Materials Kits and Service Bulletin Kits. In
accordance with schedules established during the initial provisioning meeting, Boeing will furnish to Customer a listing of all components which could be included in the Standards kits, raw material kits, bulk materials kits and service bulletin
kits which may be purchased by Customer from Boeing. Customer will select, and provide to Boeing its desired content for the kits. Boeing will furnish to Customer as soon as practicable thereafter a statement setting forth a firm price for such
kits. Customer will place Orders with Boeing for the kits in accordance with schedules established during the initial provisioning meeting. 
  

	 	4.	Delivery. 

 For Spare
Parts and Standards ordered by Customer in accordance with Article 3 of this Letter Agreement, Boeing will, insofar as reasonably possible, deliver to Customer such Spare Parts and Standards on dates reasonably calculated to conform to
Customer’s anticipated needs in view of the scheduled deliveries of the Aircraft. Customer and Boeing will agree upon the date to begin delivery of the provisioning Spare Parts and Standards ordered in accordance with this Letter Agreement.
Where appropriate, Boeing will arrange for shipment of such Spare Parts and Standards which are manufactured by suppliers directly to Customer from the applicable supplier’s facility. The routing and method of shipment for initial deliveries
and all subsequent deliveries of such Spare Parts and Standards will be as established at the initial provisioning meeting and thereafter by mutual agreement.

 

 

  
  

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	 	5.	Substitution for Obsolete Spare Parts. 

 5.1 Obligation to Substitute Pre-Delivery. In the event that, prior to delivery of the first Aircraft, any Spare Part purchased by Customer from Boeing in accordance with this Letter Agreement as
initial provisioning for the Aircraft is rendered obsolete or unusable due to the redesign of the Aircraft or of any accessory, equipment or part thereof (other than a redesign at Customer’s request) Boeing will deliver to Customer [*].

 5.2 Delivery of Obsolete Spare Parts and Substitutes. Obsolete or unusable Spare Parts [*] pursuant to
this Article 5 will be delivered to Boeing [*]. 
  

	 	6.	Repurchase of Provisioning Items. 

 6.1 Obligation to Repurchase. During a period commencing [*] year after delivery of the first Aircraft , and ending [*] years after such delivery, Boeing will, upon receipt of Customer’s
written request and subject to the exceptions in Article 6.2, repurchase unused and undamaged Provisioning Items which (i) were [*]. 
 6.2 Exceptions. Boeing will not be obligated under Article 6.1 to repurchase any of the following: (i) [*].

 

 

  
  

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 6.3 Notification and Format. Customer will notify Boeing, in writing
when Customer desires to return Provisioning Items under the provisions of this Article 6. Customer’s notification will include a detailed summary, in part number sequence, of the Provisioning Items Customer desires to return. Such summary will
be in the form of listings, tapes, diskettes or other media as may be mutually agreed between Boeing and Customer and will include part number, nomenclature, purchase order number, purchase order date and quantity to be returned. Within [*] business
days after receipt of Customer’s notification, Boeing will advise Customer in writing when Boeing’s review of such summary will be completed. 
 6.4 Review and Acceptance by Boeing. Upon completion of Boeing’s review of any detailed summary submitted by Customer pursuant to Article 6.3, Boeing will issue to Customer a Material Return
Authorization (MRA) for those Provisioning Items Boeing agrees are eligible for repurchase in accordance with this Article 6. Boeing will advise Customer of the reason that any Provisioning Item included in Customer’s detailed summary is not
believed by Boeing to be eligible for return. Boeing’s MRA, [*], will state the date by which Provisioning Items listed in the MRA must be redelivered to Boeing, and Customer will arrange for shipment of such Provisioning Items accordingly.

 6.5 Price and Payment. The price of each Provisioning Item repurchased by Boeing pursuant to this
Article 6 will be [*]. 
 6.6 Delivery of Repurchased Provisioning Items. Provisioning Items repurchased
by Boeing pursuant to this Article 6 will be delivered to Boeing F.O.B. at its Seattle Distribution Center or such other destination as Boeing may reasonably designate.

 

 

  
  

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	 	7.	Title and Risk of Loss. 

Title and risk of loss of any Spare Parts or Standards delivered to Customer by Boeing in accordance with this Letter Agreement will pass
from Boeing to Customer in accordance with the applicable provisions of the CSGTA. Title to and risk of loss of any Spare Parts or Standards returned to Boeing by Customer in accordance with this Letter Agreement will pass to Boeing upon delivery of
such Spare Parts or Standards to Boeing in accordance with the provisions of Article 5.2 or Article 6.6, herein, as appropriate. 
  

	 	8.	Termination for Excusable Delay. 

 In the event of termination of the Purchase Agreement pursuant to Article 7 of the AGTA with respect to any Aircraft, such termination will, [*].

 

 

  
  

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	 	9.	Order of Precedence. 

 In
the event of any inconsistency between the terms of this Letter Agreement and the terms of any other provisions of the CSGTA, the terms of this Letter Agreement will control. 

 

					
		 	Very truly yours,
		
		 	THE BOEING COMPANY
			
		 	By	  	 Dennis Egge

			
		 	Its	  	
Attorney-In-Fact

		
		 	ACCEPTED AND AGREED TO this
		
		 	Date: 03 October, 2006
		
		 	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
			
		 	By	  	  

			
		 	Its	  	 CFO

 
 

 

  
  

 P.A. No. 3075 
 Spare Parts Initial Provisioning 
 BOEING PROPRIETARY

 

	
	  
 

  
  
  

 
  

 

  

					
		  	 The Boeing Company
 P.O.
Box 3707
 Seattle, WA 98124-2207
	  	

 3075-04 

Aerovias del Continente Americano S.A. AVIANCA 

Centro Administrativo 
 Avenida El Dorado -
No. 92-30 
 Bogota 
 Colombia

  

			
	Subject:	  	Aircraft Model Substitution
		
	Reference:	  	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to
Model 787-859 aircraft (the Aircraft)

 This letter agreement (Letter Agreement)
amends and supplements the Purchase Agreement. All terms used but not defined in this Letter Agreement have the same meaning as in the Purchase Agreement. 
 Customer may substitute the purchase of Boeing Model 787-9 aircraft (Substitute Aircraft) in place of any of the Aircraft, subject to the following terms and conditions: 

 

	1.	Customer’s Written Notice. 

 Customer
will provide written notice of its intention to substitute the purchase of an Aircraft with the purchase of a Substitute Aircraft, 
 (a) no later than the first day of the month that is [*] months prior to the scheduled month of delivery of the Aircraft for which it will be substituted, provided that a Substitute Aircraft has been
previously certified and delivered to Customer, or; 
 (b) no later than the first day of the month that is [*] months prior to
the scheduled month of delivery of the Aircraft for which it will be substituted, if a Substitute Aircraft has not been previously certified and delivered to Customer. 
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	2.	Boeing’s Production Capability. 

Customer’s substitution right is conditioned upon Boeing’s having production capability for the Substitute Aircraft in the scheduled delivery
month of the Aircraft for which it will be substituted. 
 [*] 
  

	3.	Definitive Agreement. 

 Customer’s
substitution right and Boeing’s obligation in this Letter Agreement are further conditioned upon Customer’s and Boeing’s executing a definitive agreement for the purchase of the Substitute Aircraft within [*] days of Customer’s
substitution notice to Boeing or of Customer’s acceptance of an alternate delivery month in accordance with paragraph 2. above. 
  

	4.	Price and Advance Payments. 

 The Airframe
Base Price, Optional Features Prices, Engine Price and Aircraft Basic Price will be adjusted to Boeing’s and the engine manufacturer’s [*] prices for such elements as of the date of execution of the definitive purchase agreement for the
Substitute Aircraft. The escalation indices and methodology used to estimate the Advance Payment Base Prices will be adjusted to Boeing’s and the engine manufacturer’s [*] provisions for such elements as of the date of execution of the
definitive purchase agreement for the Substitute Aircraft. 
 If the Advance Payment Base Price for any Substitute Aircraft is higher than that
of the Aircraft, Customer will pay to Boeing the amount of the difference as of the date of execution of the definitive agreement for the Substitute Aircraft. If the Advance Payment Base Price of the Substitute Aircraft is lower than that of the
Aircraft, Boeing will retain any excess amounts previously paid by Customer until the next payment is due from Customer, at which point Customer may reduce the amount of such payment by the amount of the excess. In no case will Boeing refund or pay
interest on any excess amounts created by virtue of Customer’s exercise of the rights of substitution described in this agreement.

 

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	5.	Confidential Treatment. 

 Customer
understands that certain commercial and financial information contained in this Letter Agreement is considered by Boeing as confidential. Customer agrees that it will treat this Letter Agreement and the information contained herein as confidential
and will not, without the prior written consent of Boeing, disclose this Letter Agreement or any information contained herein to any other person or entity. [*]. 
  

			
	Very truly yours,
	
	THE BOEING COMPANY
		
	By	 	 Dennis Egge

		
	Its	 	
Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
	
	Date: 03 October, 2006
	
	 AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA

		
	By	 	  

		
	Its	 	 CFO

 
 

 P.A. No. 3075 
 BOEING PROPRIETARY 

 

	
	  
 

  
  
  

 
  

 

  

					
		  	 The Boeing Company
 P.O.
Box 3707
 Seattle, WA 98124-2207
	  	

 3075-05 

Aerovias del Continente Americano S.A. AVIANCA 

Centro Administrativo 
 Avenida El Dorado -
No. 92-30 
 Bogota 
 Colombia

  

			
	Subject:	  	Demonstration Flight Waiver
		
	Reference:	  	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to
Model 787-859 aircraft (the Aircraft)

 This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. All terms used but not defined in
this Letter Agreement shall have the same meaning as in the Purchase Agreement. 
 Definition of Terms: 

Correction Costs: [*] and the cost of any material required to correct a Flight Discrepancy where direct labor costs are equal to the warranty
labor rate in effect between the parties at the time such labor is expended. 
 Flight Discrepancy: A failure or malfunction of an
Aircraft, or the accessories, equipment or parts installed on the Aircraft which results from a defect in the Aircraft, Boeing Product, engine or Supplier Product or a nonconformance to the Detail Specification for the Aircraft. 

The AGTA provides that each aircraft will be test flown prior to delivery for the purpose of demonstrating the functioning of such Aircraft and its
equipment to Customer; however, Customer may elect to waive this test flight. For each test flight waived, Boeing agrees to provide Customer an amount of jet fuel at delivery that, including the standard fuel entitlement, totals the following amount
of fuel: 
  

			
	 Aircraft Model
	  	Total Fuel Entitlement
(U.S.
Gallons)
	 [*]
	  	[*]
	 [*]
	  	[*]
	 [*]
	  	[*]
	 [*]
	  	[*]
	 [*]
	  	[*]

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 Further, Boeing agrees to reimburse Customer for any [*]. 

Should a Flight Discrepancy be detected by Customer which requires the return of the Aircraft to Boeing’s facilities at Seattle, Washington, so that
Boeing may correct such Flight Discrepancy, Boeing and Customer agree that title to and risk of loss of such Aircraft will [*]. In addition, it is agreed that Boeing will have responsibility for the Aircraft while it is on the ground at
Boeing’s facilities in Seattle, Washington, [*]. 
 To be reimbursed for [*], Customer shall submit a written itemized statement describing
any [*] incurred by Customer for each discrepancy. This request must be submitted to Boeing’s Contracts Regional Director at Renton, Washington, within ninety (90) days after the first flight by Customer. 

 

			
	Very truly yours,
	
	THE BOEING COMPANY
		
	By	 	 Dennis Egge

		
	Its	 	
Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
	
	Date: 03 October, 2006
	
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	By	 	  

		
	Its	 	 CFO

 
 

 

  
  

 P.A. No. 3075 
 Demonstration Flight Waiver 
 BOEING PROPRIETARY

 

	
	  
 

  
  
  

 
  

 

  

					
		 	 The Boeing Company
 P.O.
Box 3707
 Seattle, WA 98124-2207
	 	

 3075-6 

Aerovias del Continente Americano S.A. AVIANCA 

Centro Administrativo 
 Avenida El Dorado -
No. 92-30 
 Bogota 
 Colombia

  

			
	Subject:	  	Aircraft Schedule Reliability Program
		
	Reference:	  	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to
Model 787-859 aircraft (the Aircraft)

 This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. All terms used but not defined in
this Letter Agreement have the same meaning as in the Purchase Agreement. 
  

	1.0	Definition of Terms: 

 1.1
“Achieved Mechanical Schedule Reliability” shall mean a number calculated pursuant to the following formula: 

[*] 
 [*] 

1.2 “Analysis Period” shall mean any [*]. 
 1.3 “Average Flight Length” shall mean the [*]. 
 1.4 “Chargeable
Schedule Interruption” or “Interruption” shall mean a [*] 
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 Aircraft, or any system, accessory, equipment or part (including engines) installed thereon. 

1.5 “Covered Aircraft” shall mean those Aircraft operated by Customer on Customer’s routes during the Program Term. 

1.6 “Program” shall mean the rights and obligations defined in this Letter Agreement. 

1.7 “Program Term” shall mean the [*] commencing on the delivery date of the first Covered Aircraft. 

1.8 “Scheduled Revenue Departure” shall mean any departure of a Covered Aircraft [*]. 

 

	2.	Program Description. 

Mechanical Schedule Reliability targets for the Covered Aircraft (Mechanical Schedule Reliability Target(s)) during the Program Term are
as follows: 
  

			
	 Program Term
	  	Mechanical Schedule
Reliability Target
	 [*]
	  	[*]
	 [*]
	  	[*]
	 [*]
	  	[*]

 These Mechanical Schedule Reliability Targets are based on an average flight length of [*] for Covered Aircraft in
revenue service operations. The Mechanical Schedule Reliability Targets are subject to change based on changes in the Customer’s actual Average Flight Length and other factors under Customer’s control. 

 

	3.	Remedial Action. 

 3.1
Following the [*] of Scheduled Revenue Departures, if Customer notifies Boeing that the Achieved Mechanical Schedule Reliability for the Analysis Period is more than 0.40 percentage point below the Mechanical Schedule Reliability Target (Agreed
Threshold Value) for such Analysis Period, Boeing will: 
 3.1.1 [*];

 

 

  
  

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 3.1.2 [*]; 
 3.1.3 [*]; 
 3.1.4 [*]; 

3.1.5 [*] 

3.1.6 [*]. 

3.2 With respect only to the [*] of Program Term, if Customer notifies Boeing that the Achieved Mechanical Schedule Reliability for that
[*] is below the Agreed Threshold Value for such [*], Boeing shall provide its [*] to Customer [*] subject to the following conditions: 
 3.2.1 [*]; 
 3.2.2. [*] 

3.2.3 [*].

 

 

  
  

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	4.	Interruption Exclusions. 

 An Interruption
does not include any delayed departure, cancellation, air turn back, or diversion of any scheduled revenue flight of any Covered Aircraft which is caused by any of the following events: 

 

	 	(i)	[*] 

  

	 	(ii)	[*] 

  

	 	(iii)	[*] 

  

	 	(iv)	[*] 

  

	 	(v)	[*] 

  

	 	(vi)	[*] 

  

	 	(vii)	[*] 

  

	 	(viii)	[*] 

  

	 	(ix)	[*] 

  

	 	(x)	[*] 

  

	 	(xi)	[*] 

 

 

  
  

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 [*]. 
  

	5.	Administrative Requirements. 

 5.1 Customer will provide status reports every month (Reporting Period). 
 5.2 The
Customer’s status reports shall include the data required to calculate the Achieved Mechanical Schedule Reliability for each month of the Reporting Period using the formulas described in Section 1.0, above, and a list of the Chargeable
Schedule Interruptions for the Reporting Period. Customer shall submit such data to Boeing electronically in accordance with the provisions of Boeing Document D6-81692. 
 All data submitted pursuant to Subsection 5.2 will be addressed to the attention of: 
 MANAGER – IN-SERVICE DATA GROUP 
 Boeing Commercial Airplanes 

P.O. Box 3707 

Seattle, Washington 98124-2207 
 5.3 Customer claim reports will include the data described in Subsection 5.2 above and sufficient data to substantiate any claimed Chargeable Schedule Interruption. Customer will submit to Boeing
reasonable proof that any claimed Chargeable Schedule Interruption does in fact constitute a Chargeable Schedule Interruption. In addition, Customer will maintain and submit to Boeing such data as may reasonably be required to: 

(i) [*], 
 (ii)
[*] 
 (iii) [*].

 

 

  
  

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 5.4 Failure to file the status reports or provide the information as specified in
Subsections 5.1 through 5.3, above, will constitute an acknowledgment by Customer that the Achieved Mechanical Schedule Reliability is equal to or greater than the Agreed Threshold Value for such Analysis Period, and Boeing will not be obligated to
provide any of the remedies arising under this Program for such Analysis Period. 
 5.5 All reports submitted to Boeing will be
addressed to the attention of: 
 Director - Warranty & Supplier Product Support

 Boeing Commercial Airplanes 
 P.0. Box 3707 
 Seattle, Washington 98124-2207 

 

	6.	Conditions and Limitations. 

 6.1 If, to improve Schedule Reliability, Boeing or any Boeing supplier issues service bulletins, service letters or other written instructions (Instructions) or offers
no-charge retrofit kits, Customer will accomplish such Instructions or install such kits within a period of [*] days after availability of such Instructions or kits at Customer’s facility or such longer
period as may be established by mutual agreement of the parties. If Customer does not accomplish the Instructions or install the kits within such time period, [*] 
 6.2 Boeing may inspect at all reasonable times Customer’s maintenance facilities and review its maintenance programs and procedures. If Boeing recommends in writing [*] changes in Customer’s
maintenance programs and procedures which would improve the Achieved Mechanical Schedule Reliability and Customer does not effect such changes within [*] days after receiving such written recommendations or such longer period as may be established
by mutual agreement of the parties, Boeing will have the right to [*]. 
 6.3 If, for any Analysis Period, the actual Average
Flight Length or other factors affecting Schedule Reliability of the Covered Aircraft [*]. 

 

 

  
  

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 6.4 At Boeing’s request, Customer will assign to Boeing any of Customer’s rights
against any manufacturer of any system, equipment, accessory or part installed in the Covered Aircraft as Boeing may reasonably require to fulfill its obligations with respect to any remedy provided by Boeing hereunder. 

6.5 THE DISCLAIMER AND RELEASE and EXCLUSION OF CONSEQUENTIAL AND OTHER DAMAGES provisions stated in Article 11 of Exhibit C of the AGTA
apply to this Program. 
  

	7.	Duplication of Benefits 

 Nothing in this
Letter Agreement shall require Boeing or the Engine Manufacturer to provide duplicate remedies to Customer under this Letter Agreement or any other agreements between Boeing and Customer or between the Engine Manufacturer and Customer. 

 

	8.	Exclusive Remedy. 

 Performance of the
commitments made in this Letter Agreement by Boeing in accordance with the terms and conditions of this Letter Agreement is in substitution for all other damages and remedies recoverable by Customer from Boeing and shall constitute complete, full
and final settlement and satisfaction of all Boeing’s obligation and liabilities to Customer arising out of failure of the Achieved Mechanical Schedule Reliability to equal or exceed the Agreed Threshhold Value. Customer hereby waives and
releases all other rights, remedies, claims and causes of action against Boeing relating to the failure of Boeing to perform such commitments. 
  

	9.	Confidential Treatment. 

Certain commercial and financial information contained in this Letter Agreement, or provided in accordance with its terms, is considered
as confidential. Each party agrees that it will treat this Letter Agreement and the information contained herein, and any information provided in accordance with its terms, as confidential and will not, without the prior written consent of the other
party, disclose this Letter Agreement or any information contained herein, and any information provided in accordance with its terms, to any other person or entity. [*]

 

 

  
  

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 [*] 
 If the foregoing correctly sets forth your understanding of our agreement with respect to the matters treated above, please indicate your acceptance and approval below. 

 

			
	Very truly yours,
	
	THE BOEING COMPANY
		
	By	 	 /s/    Dennis
Egge        

		
	Its	 	
Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
		
	Date:	 	03 October, 2006
	
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	By	 	  

		
	Its	 	 CFO

 
 

 

  
  

 P.A. No. 3075 
 Schedule Reliability 
 BOEING PROPRIETARY

 

	
	

  

					
		 	 The Boeing Company
 P.O. Box 3707
 Seattle, WA 98124-2207
	 	

 3075-07 

Aerovias del Continente Americano S.A. AVIANCA 

Centro Administrativo 
 Avenida El Dorado -
No. 92-30 
 Bogota 
 Colombia

  

			
	Subject:	  	Flight Crew Training Spare Parts Support
		
	Reference:	  	Purchase Agreement No. 3075 (the Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to Model 787-859 aircraft
(the Aircraft)

 This Letter Agreement is entered into on the date below, and amends and supplements the Agreement. All terms used but not
defined in this Letter Agreement have the same meaning as in the Agreement. 
 Definition of Terms: 

Flight Crew Training: Flight training conducted by Boeing and occurring immediately following delivery of the Aircraft. 

Removed Parts: Parts removed from an Aircraft during Flight Crew Training. 
 Replacement Parts: Parts taken from Boeing inventory and installed in an Aircraft because no Standby Parts are available. 
 Standby Parts: Parts which are owned by Customer and located at Customer’s designated storage area at Boeing to support Flight Crew Training. 

Training Aircraft: The Aircraft delivered to Customer and used for Flight Crew Training. 

 

	1.	Provisioning of Spare Parts 

 To support Flight Crew Training, Boeing agrees to provide normal line maintenance and expendable spare parts at no charge on the Training Aircraft; and, Customer agrees to provide Standby Parts for the
Training Aircraft. The Standby Parts list, including part numbers, exact quantities and on-dock dates, will be established during the provisioning meeting. 
 P.A. No. 3075 
 Spares Flight Crew Training 

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 If parts other than those discussed above fail on the Training Aircraft during Flight Crew
Training, Boeing will attempt to provide Replacement Parts for those failed parts. If Boeing is unable to provide Replacement Parts, Customer will be responsible for providing those parts. 

 

	2.	Disposition of Removed Parts 

 With respect to Removed Parts, Boeing may: 
  

	 	(i)	[*]; 

  

	 	(ii)	[*] 

  

	 	(iii)	[*] 

 Any Removed Parts returned
to Customer, or replacements, will be accomplished in accordance with any written instructions from Customer received by Boeing prior to such return. 
  

	3.	Redelivery of Standby Parts 

 Standby Parts not installed in the Training Aircraft will be redelivered to Customer on board the last aircraft used for Flight Crew Training. 

 

	4.	Non-performance by Customer 

 If Customer’s non-performance of obligations in this Letter Agreement causes a delay in the Flight Crew Training, Customer will be deemed to have agreed to any such delay in Flight Crew Training. In
addition, Boeing will have the right to: 
  

	 	(i)	[*] 

  

	 	(ii)	[*] 

  

	 	(iii)	[*] 

 

 

  
  

			
	P.A. No. 3075	 	Rev.: 01/08/04

 AD Cost [*] 

BOEING PROPRIETARY

 

  
  

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	5.	Customer Warranty 

Customer warrants that the Standby Parts will meet the requirements of the Detail Specification and be in a condition to pass
Boeing’s receiving inspection and functional test, and if not in a new condition, will have an attached FAA Serviceable Parts Tag. 
  

	6.	Title and Risk of Loss 

Title to and risk of loss of any Standby Parts or Removed Parts will remain with Customer. Boeing will have only such liability for
Standby Parts and Removed Parts as a bailee for mutual benefit would have, but will not be liable for loss of use. For Replacement Parts, title will transfer to Customer at the time such part is installed on the Training Aircraft. 

 

			
	Very truly yours,
	
	THE BOEING COMPANY
		
	By	 	 /s/ Dennis Egge

		
	Its	 	
Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
		
	Date:	 	03 October 2006
	
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	By	 	  

		
	Its	 	 CFO

 
 

 

  
  

			
	P.A. No. 3075	 	Rev.: 01/08/04

 AD Cost [*] 

BOEING PROPRIETARY

 

	
	  
 

  
  
  

 
  

 

  

					
		 	 The Boeing Company 

P.O. Box 3707
 Seattle, WA 98124-2207
	  	

 6-1162-DME-0895 

Aerovias del Continente Americano S.A. AVIANCA 

Centro Administrativo 
 Avenida El Dorado -
No. 92-30 
 Bogota 
 Colombia

  

			
	Subject:	  	Airworthiness Directive Cost Participation Program
		
	Reference:	  	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to
Model 787-859 aircraft (the Aircraft)

 This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. It grants to Customer an
Airworthiness Directive Cost Participation Program described herein (the Program). All terms used but not defined in this Letter Agreement have the same meaning as in the Purchase Agreement. 

 

	1.	Scope. 

 This Program
applies to any Boeing Product installed in the Aircraft, or [*] at the time of Aircraft delivery that is modified or replaced with Boeing-designed corrective materials to comply with terminating actions specified in FAA Airworthiness Directives when
the defects are of the type covered by the material and workmanship or design warranties set forth in Part 2 of Exhibit C, Product Assurance Document, of the AGTA [*] 
  

	2.	Term. 

 The term of the
Program for Boeing Products installed on the Aircraft at the time of delivery is [*] consecutive years after delivery of such Aircraft. [*] 

P.A. No. 3075 
 AD Cost [*] 

BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americano S.A. AVIANCA 
 6-1162-DME-0895    Page 2 

 

  

  
  
 

 
  

	3.	Price. 

 If any corrective
materials are required as described under paragraph 1 above during the term of this Program, Boeing will promptly furnish such materials to Customer (including Boeing-designed standard parts but excluding industry standard parts such as MS and NAS
standards) at a price determined in accordance with the following formula: 
 [*] 

 

	4.	General Conditions and Limitations. 

 4.1 Customer’s written notice of claim under this Program must be received by Boeing’s Warranties Regional Manager within [*] from the date of issuance of any applicable Airworthiness Directive.

 4.2 THE DISCLAIMER AND RELEASE and EXCLUSION OF CONSEQUENTIAL AND OTHER DAMAGES provisions stated in Article 11 of Part 2 of
Exhibit C of the AGTA apply to this Program. 
  

	5.	Confidential Treatment. 

Customer understands that certain commercial and financial information contained in this Letter Agreement is considered by Boeing as
confidential. Customer agrees that it will treat this Letter Agreement and the information contained herein as confidential and will not, without the prior written consent of Boeing, disclose this Letter Agreement or any information contained herein
to any other person or entity. [*] 

 

 

  
  

 P.A. No. 3075 
 AD Cost [*] 
 BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americano S.A. AVIANCA 
 6-1162-DME-0895    Page 3 

 

  

  
  
 

 
  

 If the foregoing correctly sets forth your understanding of our agreement with respect to the matters
treated above, please indicate your acceptance and approval below. 
  

			
	Very truly yours,
	
	THE BOEING COMPANY
		
	By	 	 /s/ Dennis Egge

		
	Its	 	
Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
		
	Date:	 	03 October, 2006
	
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	By	 	  

		
	Its	 	 CFO

 
 

 

  
  

 P.A. No. 3075 
 AD Cost [*] 
 BOEING PROPRIETARY

 

	
	  
 

  
  
  

 
  

 

  

					
		 	 The Boeing Company 

P.O. Box 3707
 Seattle, WA 98124-2207
	  	

 6-1162-DME-0896 

Aerovias del Continente Americano S.A. AVIANCA 

Centro Administrativo 
 Avenida El Dorado -
No. 92-30 
 Bogota 
 Colombia

  

			
	Subject:	  	Aircraft Performance Guarantees – Genx-1B64 and Trent 1000-A Engines
		
	Reference:	  	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to Model 787-859
aircraft (the Aircraft)

 This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. All terms used but not defined in
this Letter Agreement have the same meaning as in the Purchase Agreement. 
 Boeing agrees to provide Customer with the performance guarantees
in the Attachment. These guarantees are exclusive and expire upon delivery of the Aircraft to Customer. 
 These performance guarantees were
prepared using methodology and tolerances that are similar to those used for performance guarantees for all 787-8 customers. 
 Confidential
Treatment. 
 Customer understands that certain commercial and financial information contained in this Letter Agreement is considered by
Boeing as confidential. Customer agrees that it will treat this Letter Agreement and the information contained herein as confidential and will not, without the prior written consent of Boeing, disclose this Letter Agreement or any information
contained herein to any other person or entity. [*] 
 P.A. No. 3075 
 Genx & Trent Performance Guarantees 
 BOEING PROPRIETARY

 

  

 Aerovias del Continente Americano S.A. AVIANCA 
 6-1162-DME-0896 Page 2 

 

  

  
  
 

 
  
  

 [*] 
  

			
	Very truly yours,
	
	THE BOEING COMPANY
		
	By	 	 /s/ Dennis Egge

		
	Its	 	
Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
		
	Date:	 	03 October, 2006
	
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	By	 	  

		
	Its	 	 CFO

 Attachment 

P.A. No. 3075 
 GEnx and Trent Performance
Guarantees 

 

  

			
		  	

  

 Attachment to Letter Agreement 
 No. 6-1162-DME-0896 
 Trent 1000-A Engines 
 Page 1 

 

  

  
  

 

 MODEL 787-8 PERFORMANCE GUARANTEES 

FOR AEROVIAS NACIONALES DE COLOMBIA S.A. AVIANCA 
  

					
	SECTION	  	CONTENTS	  	
	 1
	  	AIRCRAFT MODEL APPLICABILITY	  	2
			
	 2
	  	FLIGHT PERFORMANCE	  	2
			
	 3
	  	[*]	  	21
			
	 4
	  	[*]	  	21
			
	 5
	  	AIRCRAFT CONFIGURATION	  	21
			
	 6
	  	GUARANTEE CONDITIONS	  	22
			
	 7
	  	GUARANTEE COMPLIANCE	  	24
			
	 8
	  	EXCLUSIVE GUARANTEES	  	25

 
 

 

  

			
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	1	AIRCRAFT MODEL APPLICABILITY 

 The guarantees contained in this Attachment (the “Performance Guarantees”) are applicable to the 787-8 Aircraft with a maximum takeoff weight of [*] kilograms, a maximum landing weight of [*]
kilograms, and a maximum zero fuel weight of [*] kilograms, and equipped with Boeing furnished GEnx-1B64 engines unless otherwise specified as GEnx-1B67 engines. 
  

	2	FLIGHT PERFORMANCE 

  

	2.1	[*] 

  

	2.1.1	[*], shall not be 

less than the following guarantee value: 
  

			
	NOMINAL:	  	[*] Kilograms
	TOLERANCE:	  	[*] Kilograms
	GUARANTEE:	  	[*] Kilograms

 Conditions: 
 [*] 
 The following obstacle definition is based on a straight-out departure where
obstacle height and distance are specified with reference to the liftoff end of the runway: 
  

					
	 	  	Distance	  	Height
	1	  	[*]	  	[*]

 
 

 

  

			
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	2.1.2	[*] shall not be less than the following guarantee value: 

 NOMINAL: [*] Kilograms 
 TOLERANCE: [*] Kilograms 

GUARANTEE: [*] Kilograms 
 Conditions: 
 [*] 

The following obstacle definition is based on a straight-out departure where obstacle height and distance are specified with reference to
the liftoff end of the runway: 
  

					
	 	  	Distance	  	Height
	1.	  	[*]	  	[*]

 2.1.3 [*] shall not be less than the following guarantee value: 

NOMINAL: [*] Kilograms 
 TOLERANCE: [*]
Kilograms 
 GUARANTEE: [*] Kilograms 

Conditions: 
 [*]

 

 

  

			
	P.A. No. 3075	  	SS06-0154
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 No. 6-1162-DME-0896 
 Trent 1000-A Engines 
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 [*] 
 2.1.4 [*] shall not be less than the following guarantee value: 
 NOMINAL: [*] Kilograms

 TOLERANCE: [*] Kilograms 
 GUARANTEE:
[*] Kilograms 
 Conditions: 
 [*]

 The following obstacle definition is based on a straight-out departure where obstacle height and distance are specified with reference to the
liftoff end of the runway: 
  

					
	 	  	Distance	  	Height
	1.	  	[*]	  	[*]
	2.	  	[*]	  	[*]

 
 

 

  

			
	P.A. No. 3075	  	SS06-0154
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 2.1.5 [*] shall not be less than the following guarantee value: 

NOMINAL: [*] Kilograms 
 TOLERANCE: -[*]
Kilograms 
 GUARANTEE: [*] Kilograms 

Conditions: 
 [*] 

2.2 [*] 
 [*] shall not be less than the
following guarantee value: 
 NOMINAL: [*] Feet 
 TOLERANCE: [*] Feet 
 GUARANTEE: [*] Feet 
 2.3 Altitude Capability 
 [*] shall not be less than the following guarantee value:

 NOMINAL: [*] Feet 
 TOLERANCE: [*]
Feet 
 GUARANTEE: [*] Feet

 

 

  

			
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 Trent 1000-A Engines 
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 Conditions: 
 1) [*] 
 2) [*] 
 3) [*] 
 2.4 Cruise Range 
 The still air range at an initial cruise altitude of [*] feet on an [*] day at [*] Mach number, starting at a gross weight of [*] kilograms and consuming [*] kilograms of fuel, and using not more than
maximum cruise thrust (except maximum climb thrust may be used during a step climb) and using the conditions and operating rules defined below, shall not be less than the following guarantee value: 

NOMINAL: [*] Nautical Miles 
 TOLERANCE: [*]
Nautical Miles 
 GUARANTEE: [*] Nautical Miles 
 Conditions and operating rules: 
 A step climb or multiple step climbs of [*] feet altitude may be
used when beneficial to minimize fuel burn. 
 2.5 Mission 
 2.5.1 Mission Payload 
 The payload for a stage length of [*] nautical miles in still air
(equivalent to a distance of [*] nautical miles with a [*] wind, representative of a [*] route in [*]) using the conditions and operating rules defined below, shall not be less than the following guarantee value: 

NOMINAL: [*]0 Kilograms 
 TOLERANCE: [*]
Kilograms 
 GUARANTEE: [*] Kilograms

 

 

  

			
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 Trent 1000-A Engines 
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 Conditions and operating rules: 

 

							
	Stage Length:	  	The stage length is defined as the sum of the distances for the climbout maneuver, climb, cruise, and descent.
		
	Takeoff:	  	[*]
		
		  	The following obstacle definition is based on a straight out departure where obstacle height and distance are specified with reference to the liftoff end of the
runway:
				
	 	  	 	  	Distance	  	Height
		  	1.	  	[*]	  	[*]
		
		  	Maximum takeoff thrust is used for the takeoff.
		
		  	The takeoff gross weight shall conform to FAA Regulations.
		
	Climbout Maneuver:	  	[*]
		
	Climb:	  	[*]

 
 

 

  

			
	P.A. No. 3075	  	SS06-0154
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 Trent 1000-A Engines 
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 [*] 
 Cruise: [*] 
 Descent: [*] 
 Approach and Landing Maneuver: 
 [*]

 

 

  

			
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	Fixed Allowances:	  	 For the purpose of this guarantee and for the purpose of establishing compliance with this guarantee, the following shall be used as
fixed quantities and allowances:
  
 Taxi-Out:

 
 [*]
  

Takeoff and Climbout Maneuver:
  

[*]
  
 Approach and Landing Maneuver:
  

[*]
  
 Taxi-In (shall be consumed from the reserve fuel):
  
 [*]
  
 Usable reserve fuel
remaining upon completion of the approach and landing maneuver: [*] Kilograms
  
 For information purposes, the reserve fuel is based on a standard day temperature and a) a contingency fuel
 allowance equivalent to [*] percent of the flight time required to fly from the redispatch point

(representative of a Lisbon redispatch point) to the final destination airport, starting at the end of mission cruise at an LRC Mach number, b) a missed
approach and flight to a [*] nautical mile alternate, c) and a minimum landing fuel of [*] kilograms.

 
 

 

  

			
	P.A. No. 3075	  	SS06-0154
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 No. 6-1162-DME-0896 
 Trent 1000-A Engines 
 Page 10 

 

  

  
  

 

 2.5.2 Mission Payload – With 1000 [*] Engines 

The payload for a stage length of [*] nautical miles in still air (equivalent to a distance of [*] nautical miles with a [*], representative of a [*])
using the conditions and operating rules defined below, shall not be less than the following guarantee value: 
 NOMINAL: [*] Kilograms

 TOLERANCE: [*] Kilograms 
 GUARANTEE:
[*] Kilograms 
 Conditions and operating rules: 
  

							
	Stage Length:	  	The stage length is defined as the sum of the distances for the climbout maneuver, climb, cruise, and descent.
		
	Takeoff:	  	 [*]
  

The following obstacle definition is based on a straight out departure where obstacle height and distance are specified with reference to the liftoff end
of the runway:

				
	 	  	 	  	Distance	  	Height
		  	1.	  	[*]	  	[*]

 
 

 

  

			
	P.A. No. 3075	  	SS06-0154
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 No. 6-1162-DME-0896 
 Trent 1000-A Engines 
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		  	 Maximum takeoff thrust is used for the takeoff.
  

The takeoff gross weight shall conform to FAA Regulations.

		
	Climbout Maneuver:	  	[*]
		
	Climb:	  	 [*]
 [*]

		
	Cruise:	  	[*]

 
 

 

  

			
	P.A. No. 3075	  	SS06-0154
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 Attachment to Letter Agreement 
 No. 6-1162-DME-0896 
 Trent 1000-A Engines 
 Page 12 

 

  

  
  

 

			
	Descent:	  	[*]
		
	Approach and Landing Maneuver:	  	[*]
		
	Fixed Allowances:	  	 For the purpose of this guarantee and for the purpose of establishing compliance with this guarantee, the following shall be used as
fixed quantities and allowances:
 Taxi-Out:
 [*]
 Takeoff and Climbout Maneuver:
 [*]
 Approach and Landing Maneuver:
 [*]
 Taxi-In (shall be consumed from the reserve fuel):

[*]
 Usable reserve fuel remaining upon
completion of the
 approach and landing maneuver: [*]

 
 

 

  

			
	P.A. No. 3075	  	SS06-0154
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 Trent 1000-A Engines 
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		  	For information purposes, the reserve fuel is based on a standard day temperature and a) a contingency fuel allowance equivalent to [*] percent of the flight time required to fly
from the redispatch point (representative of a Lisbon redispatch point) to the final destination airport, starting at the end of mission cruise at an LRC Mach number, b) a missed approach and flight to a [*] nFautical mile alternate, c) and a
minimum landing fuel of [*] kilograms.

 2.5.3 Mission Block Fuel 
 The block fuel for a stage length of [*] nautical miles in [*] (representative of a route with a [*] hour flight time from [*]) with a zero fuel weight of [*] kilograms, using the conditions and operating
rules defined below, shall not be more than the following guarantee value: 
 NOMINAL: [*] Kilograms 

TOLERANCE: [*] Kilograms 
 GUARANTEE: [*]
Kilograms 
 Conditions and operating rules: 
  

			
	Stage Length:	  	The stage length is defined as the sum of the distances for the climbout maneuver, climb, cruise, and descent.
		
	Block Fuel:	  	The block fuel is defined as the sum of the fuel used for taxi-out, takeoff and climbout maneuver, climb, cruise, descent, approach and landing maneuver, and
taxi-in.
		
	Takeoff:	  	[*]

 
 

 

  

			
	P.A. No. 3075	  	SS06-0154
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 Trent 1000-A Engines 
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		  	[*]
		
		  	The following obstacle definition is based on a straight out departure where obstacle height and distance are specified with reference to the liftoff end of the
runway:
				
	 	  	 	  	Distance	  	Height
		  	1.	  	[*]	  	
		  	Maximum takeoff thrust is used for the takeoff.
		
		  	The takeoff gross weight shall conform to FAA Regulations.
		
	Climbout Maneuver:	  	[*]
		
	Climb:	  	[*]
		
	Cruise:	  	[*]

 
 

 

  

			
	P.A. No. 3075	  	SS06-0154
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 Trent 1000-A Engines 
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		  	[*]
		
	Descent:	  	[*]
		
	 Approach
 and
Landing
 Maneuver:
	  	[*]
		
	 Fixed

Allowances:
	  	For the purpose of this guarantee and for the purpose of establishing compliance with this guarantee, the following shall be used as fixed quantities and
allowances:
		
		  	 Taxi-Out:

[*]

		
		  	 Takeoff and Climbout Maneuver:

[*]

		
		  	 Approach and Landing Maneuver:

[*]

		
		  	 Taxi-In (shall be consumed from the reserve fuel):
 [*]

 
 

 

  

			
	P.A. No. 3075	  	SS06-0154
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 Trent 1000-A Engines 
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		  	 Usable reserve fuel remaining upon completion of the approach and landing maneuver: [*] Kilograms

 
 For information purposes, the reserve fuel is based on a standard day temperature
and a) a contingency fuel allowance equivalent to [*] percent of the flight time from takeoff through the completion of the approach and landing maneuver at the destination airport, b) a missed approach and flight to a [*] nautical mile alternate,
c) and a minimum landing fuel of [*] kilograms.

 2.5.4 Mission Block Fuel 
 The block fuel for a stage length of 2,050 nautical miles in still air (representative of a route with a 4.4 hour flight time from a sea level airport) with a zero fuel weight of 154,221 kilograms, using
the conditions and operating rules defined below, shall not be more than the following guarantee value: 
 NOMINAL: [*] Kilograms 

TOLERANCE: [*] Kilograms 
 GUARANTEE: [*]
Kilograms 
 Conditions and operating rules: 
  

			
	 Stage
 Length:
	  	The stage length is defined as the sum of the distances for the climbout maneuver, climb, cruise, and descent.
		
	Block Fuel:	  	The block fuel is defined as the sum of the fuel used for taxi-out, takeoff and climbout maneuver, climb, cruise, descent, approach and landing maneuver, and
taxi-in.
		
	Takeoff:	  	[*]
		
		  	Maximum takeoff thrust is used for the takeoff.
		
		  	The takeoff gross weight shall conform to FAA Regulations.

 
 

 

  

			
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	 Climbout

Maneuver:
	  	[*]
		
	Climb:	  	[*]
		
	Cruise:	  	[*]
		
	Descent:	  	[*]

 
 

 

  

			
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		  	[*]
		
	 Approach
 and
Landing
 Maneuver:
	  	[*]
		
	 Fixed

Allowances:
	  	 For the purpose of this guarantee and for the purpose of establishing compliance with this guarantee, the following shall be used as
fixed quantities and
 allowances:

Taxi-Out:
 [*]

		
		  	 Takeoff and Climbout Maneuver:

[*]
 [*]

		
		  	 Approach and Landing Maneuver:

[*]

		
		  	 Taxi-In (shall be consumed from the reserve fuel):
 [*]

		
		  	 Usable reserve fuel remaining upon completion of the
 approach and landing maneuver: [*]

		
		  	 For information purposes, the reserve fuel is based on
 a standard day temperature and a) a contingency fuel
 allowance equivalent to [*] percent of the
flight time
 from takeoff through the completion of the approach
 and landing maneuver at the destination airport, b) a
 missed approach and flight to a [*] nautical
mile
 alternate, c) and a minimum landing fuel of [*]
 kilograms.

 2.5.5 Operational Empty Weight Basis 
 The Operational Empty Weight (OEW) derived in Paragraph 2.5.6 is the basis for the mission guarantees of Paragraphs 2.5.1, 2.5.2, 2.5.3 and 2.5.4.

 

 

  

			
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 Trent 1000-A Engines 
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 2.5.6 Weight Summary - AVIANCA 

 

			
	 	  	Kilograms
	 Standard Model Baseline MEW
  

787 Airplane Description and Selections, 787B1-0227 Rev G, Dated 15 May 2006
 [*]
	  	[*]
		
	 Changes for AVIANCA*

[*]
	  	
		
	AVIANCA Manufacturer’s Empty Weight (MEW)	  	[*]
		
	Standard and Operational Items Allowance (Paragraph 2.5.7)	  	[*]
		
	AVIANCA Operational Empty Weight (OEW)	  	[*]

  

							
	 	  	Quantity	  	Kilograms	  	Kilograms
	 Seat Weight Included*
	  		  		  	[*]
	 Business Class [*]
	  	[*]	  		  	
	 Economy Class [*]
	  	[*]	  		  	
	 Economy Class [*]
	  	[*]	  		  	

 
 

 

  

			
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 2.5.7 Standard and Operational Items Allowance 

 

									
	 	  	Qty	  	Kilograms	  	Kilograms	  	Kilograms
	Standard Items Allowance [*]	  		  		  		  	
	 [*]
	  		  		  		  	
					
	Operational Items Allowance	  		  		  	[*]	  	
	 [*]
	  		  		  		  	
					
	Total Standard and Operational Items Allowance	  		  		  		  	[*]

 
 

 

  

			
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	3	[*] 

  

	    	[*] 

  

	4	[*] 

  

	4.1	[*] 

  

	    	[*] 

  

	5	AIRCRAFT CONFIGURATION 

  

	5.1	The guarantees contained in this Attachment are based on the Aircraft configuration as defined in the 787 Airplane Description and Selections Document,
787B1-0227 Rev G, dated May 15, 2006 and paragraphs 2.5.6 and 2.5.7 above to be incorporated into the original release of the Customer’s Detail Specification (hereinafter referred to as the Detail Specification). Appropriate adjustment
shall be made for changes in such Detail Specification approved by the Customer and Boeing or otherwise allowed by the Purchase Agreement which cause changes to the flight performance and/or weight and balance of the Aircraft. Such adjustment shall
be accounted for by Boeing in its evidence of compliance with the guarantees. 

 

 

  

			
	P.A. No. 3075	  	SS06-0154
	AERO-B-BBA4-M06-0269A	  	

 
 

  

			
		  	

  

 Attachment to Letter Agreement 
 No. 6-1162-DME-0896 
 Trent 1000-A Engines 
 Page 22 

 

  

  
  

 

  

	5.2	The guarantee payloads of Paragraphs 2.5.1 and 2.5.2 will be adjusted by Boeing for the effect of the following on OEW and the [*] guarantee of Section 3
will be adjusted by Boeing for the following in its evidence of compliance with the guarantees: 

  

	    	(1) Changes to the Detail Specification or any other changes mutually agreed upon between the Customer and Boeing or otherwise allowed by the Purchase Agreement.

  

	    	(2) The difference between the seat weight allowances to be incorporated into the Detail Specification and the actual weights. 

 

	6	GUARANTEE CONDITIONS 

  

	6.1	All guaranteed performance data are based on the International Standard Atmosphere (ISA) and specified variations therefrom; altitudes are pressure altitudes.

  

	6.2	The FAA Regulations (FAR) referred to in this Attachment are, unless otherwise specified, Code of Federal Regulations 14, Part 25 amended by Amendments 25-1
through 25-117, subject to the approval of the Federal Aviation Administration. 

  

	6.3	In the event a change is made to any law, governmental regulation or requirement, or in the interpretation of any such law, governmental regulation or
requirement that affects the certification basis for the Aircraft as described in Paragraph 6.2, and as a result thereof, a change is made to the configuration and/or the performance of the Aircraft in order to obtain certification, the guarantees
set forth in this Attachment shall be appropriately modified to reflect any such change. 

  

	6.4	[*] 

 

 

  

			
	P.A. No. 3075	  	SS06-0154
	AERO-B-BBA4-M06-0269A	  	

 
 

  

			
		  	

  

 Attachment to Letter Agreement 
 No. 6-1162-DME-0896 
 Trent 1000-A Engines 
 Page 23 

 

  

  
  

 

  

	6.5	[*] 

  

	6.6	[*] 

  

	6.7	[*] 

  

	6.8	[*] 

  

	6.9	[*] 

  

	6.10	[*] 

 

 

  

			
	P.A. No. 3075	  	SS06-0154
	AERO-B-BBA4-M06-0269A	  	

 
 

  

			
		  	

  

 Attachment to Letter Agreement 
 No. 6-1162-DME-0896 
 Trent 1000-A Engines 
 Page 24 

 

  

  
  

 

  

	7	GUARANTEE COMPLIANCE 

  

	7.1	Compliance with the guarantees of Sections 2, 3 and 4 shall be based on the conditions specified in those sections, the Aircraft configuration of Section 5
and the guarantee conditions of Section 6. 

  

	7.2	[*] 

  

	7.3	[*] 

  

	7.4	[*] 

  

	7.5	The OEW used for compliance with the mission payload guarantees of Paragraphs 2.5.1 and 2.5.2 shall be the actual MEW plus the Standard and Operational Items
Allowance in Paragraph 03-60-00 of the Detail Specification. 

  

	7.6	[*] 

  

	7.7	The data derived from tests shall be adjusted as required by conventional methods of correction, interpolation or extrapolation in accordance with established
engineering practices to show compliance with these guarantees. 

  

	7.8	[*] 

 

 

  

			
	P.A. No. 3075	  	SS06-0154
	AERO-B-BBA4-M06-0269A	  	

 
 

  

			
		  	

  

 Attachment to Letter Agreement 
 No. 6-1162-DME-0896 
 Trent 1000-A Engines 
 Page 25 

 

  

  
  

 

  

	7.9	Compliance shall be based on the performance of the airframe and engines in combination, and shall not be contingent on the engine meeting its
manufacturer’s performance specification. 

  

	8	EXCLUSIVE GUARANTEES 

 The
only performance guarantees applicable to the Aircraft are those set forth in this Attachment. 

 

 

  

			
	P.A. No. 3075	  	SS06-0154
	AERO-B-BBA4-M06-0269A	  	

 
 

	
	  
 

  
  
  

 
  

 

  

			
		 	The Boeing Company
		 	P.O. Box 3707
		 	Seattle, WA 98124-2207

 6-1162-DME-0899 

Aerovias del Continente Americano S.A. AVIANCA 

Centro Administrativo 
 Avenida El Dorado -
No. 92-30 
 Bogota 
 Colombia

  

			
	Subject:	  	Performance Retention Commitment – Trent1000 Engines
		
	Reference:	  	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to Model 787-8
(the Aircraft)

 This Letter Agreement is entered into on the date below and amends and supplements the AGTA and Purchase Agreement. All
terms used but not defined in this Letter Agreement have the same meaning as in the AGTA and the Purchase Agreement. 
 Boeing
recognizes that performance retention within reasonable limits is essential to maintain the economy of operation of the Aircraft. Therefore the parties hereto agree as follows with respect to performance retention. 

 

	1.	Aircraft Commitment. 

Boeing commits to Customer that, for all of the [*] Model 787-8 aircraft equipped with Trent 1000[*] engines delivered by Boeing to
Customer in accordance with the delivery schedule set forth in Attachment C (Covered Aircraft), the Cumulative Fleet Average Fuel Mileage Deterioration of the Covered Aircraft (as defined in Attachment A), will not exceed [*] percent [*] within the
Performance Retention Term defined in paragraph 2 (Aircraft Commitment). 
 If the Cumulative Fleet Average Fuel Mileage Deterioration of the
Covered Aircraft is greater than the Cumulative Fleet Average Fuel Mileage Commitment set forth above, Customer’s remedies and Boeing’s obligations and liabilities therefore shall be as set forth in this Letter Agreement. 

 

	2.	Applicability and Performance Retention Term. 

 This Letter Agreement shall be applicable to the Covered Aircraft, including the engines installed on the Covered Aircraft, whether purchased from Boeing as installed engines or acquired from the engine
manufacturer (Engine Manufacturer), as new spare engines for support of the Covered Aircraft during the performance deterioration term of this Letter Agreement. 
 P.A. No. 3075 
 Performance Retention Guarantee - Trent

 

 Aerovias del Continente Americano S.A. AVIANCA 
 6-1162-DME-0899 page 2 

 

  

  
  
 

 
  

 [*] 
 The term of Boeing’s and Customer’s rights and obligations pursuant to this Letter Agreement shall commence on the date the first Covered Aircraft enters commercial service and shall expire [*]
months after such date (Performance Retention Term). 
  

	3.	Conditions. 

 3.1
Operation and Maintenance.  
 Customer shall operate and maintain the Covered Aircraft in accordance with
Customer’s FAA-approved operations and maintenance programs. Customer shall operate and maintain the engines in accordance with the Operation and Maintenance Manuals, Customer’s Maintenance Program, and an Engine Management Program
mutually defined and agreed to by the Engine Manufacturer and Customer. 
 3.2 Powerback. 

[*] 
 3.3
Flight Cycle Utilization and Derate. 
 The parties agree that the Aircraft Commitment, as set forth in Paragraph 1
above, is based upon the following assumptions: 
 [*] 
 In the event Customer employs a Covered Aircraft during the Performance Retention Term of this Letter Agreement within the Customer’s system such that the operation is greater than the maximum
assumed values or lower than the minimum assumed values then the parties agree to make adjustments to the Basic Data, defined in Paragraph 4 below, solely with respect to such Covered Aircraft, as a consequence of such usage. 

 

	4.	Determination of Fuel Mileage Deterioration. 

 For the purposes of this Letter Agreement, fuel mileage deterioration shall be determined on the basis of the [*] of the Covered Aircraft in accordance with Attachment A. 

Following the delivery of each Covered Aircraft to Customer by Boeing, and continuing until expiration of the Performance Retention Term, Customer shall
record, analyze and forward to Boeing [*] data obtained on such Covered Aircraft as specified in Attachment B (Basic Data).

 

 

  

	
	

  

 P.A. No. 3075 
 Performance Retention Guarantee - Trent 

 

 Aerovias del Continente Americano S.A. AVIANCA 
 6-1162-DME-0899 page 3 

 

  

  
  
 

 
  

	5.	Notice of Non-Compliance. 

Following evaluation of the Basic Data by Customer, if Customer believes the Cumulative Fleet Average Fuel Mileage Deterioration is within
[*] of the Aircraft Commitment, Customer shall give Boeing prompt written notice thereof. 
  

	6.	Election of Actions. 

Upon Boeing’s receipt of any notice that the Cumulative Fleet Average Fuel Mileage Deterioration exceeds, or is likely to exceed,
the Aircraft Commitment and evaluation of the Basic Data indicates that the Aircraft Commitment shall not be met, Boeing and Customer, as appropriate, will take the following actions: 

6.1 Data.  
 [*] 
 6.2 Surveys.  

[*] 
 6.3
Weight.  
 [*] 
 6.4 Corrective Actions. 
 [*] 

6.5 Improvement Parts and Engine Refurbishment. 
 [*] 
  

	7.	Payments. 

 [*]

 7.1 Compensation. 
 [*] 
 7.2 Limitation on Credits for the Fuel Compensation 

[*] 

 

 

  

	
	

  

 P.A. No. 3075 
 Performance Retention Guarantee - Trent 

 

 Aerovias del Continente Americano S.A. AVIANCA 
 6-1162-DME-0899 page 4 

 

  

  
  
 

 
  

 7.3 Lifetime Limitation on Credits for the Fuel Compensation 

[*] 
 7.4 [*]

 7.5 [*] 
  

	8.	Assignment. 

 Neither
party may assign this Letter Agreement without the express written approval of the other party, no such approval to be unreasonably withheld or delayed. 
  

	9.	Duplication of Benefits. 

Boeing and Customer agree that it is not the intent of the parties under this Letter Agreement to cause Boeing and/or Engine Manufacturer
to provide duplicate benefits to Customer for the same event which results in Customer’s unjust enrichment, provided that, in the case of any such duplicate benefits, Customer shall be entitled to elect to receive the benefit which is most
favorable to Customer. 
  

	10.	Exclusive Remedy.  

Performance of the commitments made in this Letter Agreement by Boeing in accordance with the terms and conditions of this Letter
Agreement is in substitution for all other damages and remedies recoverable by Customer from Boeing and shall constitute complete, full and final settlement and satisfaction of all Boeing’s obligation and liabilities to Customer arising out of
failure of the Covered Aircraft to meet the Cumulative Fleet Average Fuel Mileage Commitment. Customer hereby waives and releases all other rights, remedies, claims and causes of action against Boeing relating to the failure of the Covered Aircraft
to meet the Cumulative Fleet Average Fuel Mileage Commitment. 
  

	11.	Confidential Treatment. 

Certain commercial and financial information contained in this Letter Agreement, or provided in accordance with its terms, is considered
as confidential. Each party agrees that it will treat this Letter Agreement and the information contained herein, and any information provided in accordance with its terms, as confidential and will not, without the prior written consent of the other
party, disclose this Letter Agreement or any information contained herein, and any information provided in accordance with its terms, to any other person or entity. [*]

 

 

  

	
	

  

 P.A. No. 3075 
 Performance Retention Guarantee - Trent 

 

 Aerovias del Continente Americano S.A. AVIANCA 
 6-1162-DME-0899 page 5 

 

  

  
  
 

 
  

 If the foregoing correctly sets forth your understanding of our agreement with respect to the matters
treated above, please indicate your acceptance and approval below. 
  

			
	Very truly yours,
	
	THE BOEING COMPANY
		
	By	 	 /s/ Dennis Egge

		
	Its	 	 Attorney-in-Fact

	
	ACCEPTED AND AGREED TO:
	
	Date: 03 October, 2006
	
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	By	 	  

		
	Its	 	 CFO

 
 

 

  

	
	

  

 P.A. No. 3075 
 Performance Retention Guarantee - Trent 

 

 Attachment A to 
 Letter Agreement No. 6-1162-DME-0899 
 Page 1

 

  

	
	

  

 Determination of Cumulative Fleet Average Fuel Mileage Deterioration 

[*] 
 7. Customer will report
the results of this analysis for the immediately preceding calendar quarter to Boeing within [*] days of the end of each calendar quarter for the duration of the Performance Retention Term.

 

 

	
	

  

 P.A. No. 3075

 

  
  

 Attachment B to 
 Letter Agreement No. 6-1162-DME-0899 
 Page 1

 

  

  
  

 Cruise Fuel Mileage Performance Determination 

Cruise performance data shall be obtained by using the Airplane Condition Monitoring System (ACMS). This data will be recorded during
level flight cruise in steady state conditions. The following data will be obtained during each such data recording (Data Events): 
 [*] 
 [*]

 

  
  

 Attachment C to 
 Letter Agreement No. 6-1162-DME-0899 
 Page 1

 

  

 Delivery Schedule for Covered Aircraft 

 

			
	 Aircraft
	  	 Delivery Date

	1	  	[*]
	2	  	[*]
	3	  	[*]
	4	  	[*]
	5	  	[*]
	6	  	[*]
	7	  	[*]

 
 

 P.A. No. 3075

 

	
	  
 

  
  
  

 
  

 

  

			
		 	The Boeing Company
		 	P.O. Box 3707
		 	Seattle, WA 98124-2207

 6-1162-DME-0900 

Aerovias del Continente Americano S.A. Avianca 

Centro Administrativo 
 Avenida El Dorado -
No. 92-30 
 Bogota 
 Colombia

  

			
	Subject:	  	Maintenance Cost Guarantee
		
	 Reference:
	  	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. (Avianca) (Customer) relating to
Model 787-859 aircraft (the Aircraft)

 This letter agreement including without limitation all attachments and amendments hereto (Letter Agreement) amends and
supplements the Purchase Agreement. All terms used but not defined in this Letter Agreement have the same meaning as in the Purchase Agreement. 

Recitals 
 A. Customer has requested a
program which will either demonstrate the projected maintenance costs for the Aircraft or, if such projected costs are not demonstrated, provide Customer specific remedies. 
 B. In response to Customer’s request Boeing offers the following maintenance cost protection program (Program) for estimating and validating the maintenance costs incurred by Customer in the
operation of the Aircraft and providing specific remedies to Customer if maintenance costs for the Aircraft as defined in this Letter Agreement exceed specified values. 
 Agreement 
 1.0 Covered Aircraft. 

The Program shall apply to each of the Aircraft operated by Customer on Customer’s routes during the Program Term (Covered Aircraft). 

P.A. No. 3075 
 Maintenance Cost Guarantee

 BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americano S.A. AVIANCA 
 6-1162-DME-0900    Page 2 

 

  

  
  
 

 
  

 2.0 Program Term. 
 The Program shall begin on the first day of the first calendar month that begins [*] first Covered Aircraft is delivered by Boeing to Customer, continue for [*] consecutive years thereafter (Program Term)
and consist of [*] periods beginning on the date the Program Term commences (Reporting Period(s)). 
 3.0 Covered Maintenance.

 The maintenance costs covered by the Program shall be the costs (as more fully defined herein) of labor performed and materials used in the
airframe, airframe component and engine line maintenance of the Covered Aircraft where the maintenance is performed as part of a maintenance program approved by Customer’s regulatory authority (Covered Maintenance). [*] 

[*] 
 4.0 Program
Commitment. 
 The Cumulative Actual Maintenance Cost shall not exceed [*]% of the Cumulative Target Maintenance Cost as these terms are
defined in this Article 4 (Program Commitment). If the performance of the Covered Aircraft does not comply with the Program Commitment (Noncompliance), Customer shall have the remedies specified in Article 8, below. 

4.1 Cumulative Actual Maintenance Cost means the aggregate Actual Maintenance Cost of Covered Maintenance for all then-completed
Reporting Periods divided by the Fleet Flight Hours for all such completed Reporting Periods. 
 4.2 Actual Maintenance Cost
means the sum of (i) the Direct Material Cost, (ii) the Direct Labor Cost, (iii) the Subcontracted Maintenance Labor Cost, and (iv) the Subcontracted Maintenance Material Cost incurred by Customer during a Reporting Period
for Covered Maintenance, where: 
 4.2.1 Direct Material Cost means the actual cost paid by Customer for materials
required to perform the Covered Maintenance in a Reporting Period, as reported by Customer and adjusted by Boeing pursuant to the provisions of this Letter Agreement and exclusive of those costs and/or other charges as set forth in Article 9; and

 4.2.2 Direct Labor Cost means the product of Direct Labor Hours and Labor Rate, where:

 

 

  

	
	

  

 P.A. No. 3075 
 Maintenance Cost Guarantee 
 BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americano S.A. AVIANCA 
 6-1162-DME-0900    Page 3 

 

  

  
  
 

 
  

 Direct Labor Hours means the hours actually expended by Customer in
performing the Covered Maintenance during a Reporting Period, as reported by Customer and adjusted by Boeing pursuant to the provisions of this Letter Agreement exclusive of time consumed by employees while waiting for work, traveling to or from
work, training, vacation, sick leave, or in any other similar absences from the actual maintenance work, 
 and 

Labor Rate means the average direct hourly labor rate during such Reporting Period, as reported by Customer and
adjusted by Boeing pursuant to the provisions of this Letter Agreement exclusive of fringe benefits, premium time allowances, social charges and business taxes paid to Customer’s employees who actually perform the Covered Maintenance, and

 4.2.3 Subcontracted Maintenance Labor Cost means the cost as reported by Customer and adjusted by Boeing pursuant to
the provisions of this Letter Agreement incurred by Customer for labor for Covered Maintenance performed for Customer during a Reporting Period by either a third party certified to perform such Covered Maintenance pursuant to 14 United States Code
of Federal Regulations, Part 145, or European Union Commission Regulation EC 2042/2003, Part 145. 
 4.2.4 Subcontracted
Maintenance Material Cost means the cost as reported by Customer and adjusted by Boeing pursuant to the provisions of this Letter Agreement incurred by Customer for materials for Covered Maintenance performed for Customer during a Reporting
Period by either a third party certified to perform such Covered Maintenance pursuant to 14 United States Code of Federal Regulations, Part 145, or European Union Commission Regulation EC 2042/2003, Part 145. 

4.3 Fleet Flight Hours means the total airborne time (aircraft takeoff-to-touchdown) accumulated by all of the Covered Aircraft
during a Reporting Period. 
 4.4 Fleet Landings means the total number of landings accumulated by all the Covered
Aircraft during a Reporting Period. 
 4.5 Cumulative Target Maintenance Cost means the value calculated at the end of
each completed Reporting Period by multiplying the Target Maintenance Cost for each completed Reporting Period by the Fleet Flight Hours reported by Customer for each such completed Reporting Period, adding the products together and dividing the sum
by the total Fleet Flight Hours for all completed Reporting Periods. 
 4.6 Target Maintenance Cost means the sum of the
target Direct Material Cost, target Direct Labor Cost, target Subcontracted Maintenance Labor Cost and target Subcontracted Maintenance Material Cost for a Reporting Period, determined or recalculated by Boeing as appropriate pursuant to the
provisions of this Letter Agreement. 

 

 

  

	
	

  

 P.A. No. 3075 
 Maintenance Cost Guarantee 
 BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americano S.A. AVIANCA 
 6-1162-DME-0900    Page 4 

 

  

  
  
 

 
  

 5.0 Target Maintenance Cost. 

5.1 The Target Maintenance Costs for the Covered Aircraft are those set forth in Attachment C to this Letter Agreement. Attachment A to
this Letter Agreement sets forth the operational assumptions used by Boeing to establish the values specified in Attachment C. 

5.2 Boeing will recalculate the Target Maintenance Costs in the circumstances and using the methodology provided in Attachment B and will
report any recalculated Target Maintenance Costs to Customer in the form specified in Attachment F. 
 6.0 Reporting of Actual Maintenance
Data. 
 6.1 Within [*] days after the last day of each Reporting Period Customer will complete and return to Boeing a
report substantially in the form of Attachment D to provide to Boeing the data specified therein for that Reporting Period. Customer will report costs in U. S. Dollars. 
 6.2 Failure to provide the data specified in Article 6.1 to Boeing within the specified [*] day period shall result in the suspension of Boeing’s obligation to provide any of the remedies arising
under this program for the affected Reporting Period until such time as Customer actually provides such reports. 
 6.3 Failure to provide
the data specified in Article 6.1 to Boeing within the specified 120 day period shall suspend the Program. For the duration of the suspension Boeing shall have no further obligations to Customer [*] pursuant to the provisions of this Letter
Agreement, and [*]. 
 6.4 Subject to the provisions of Article 9.6 Customer may reinstate the Program [*]: 

6.4.1 [*] reporting, and 
 6.4.2 [*]. 
 6.5 [*] 

 

	7.0	Calculation of Actual Maintenance Costs and Compliance with the Program Commitment.

 

 

  

	
	

  

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 Maintenance Cost Guarantee 
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 6-1162-DME-0900    Page 5 

 

  

  
  
 

 
  

 7.1 Subject to the limitations described in Article 9, within 30 days after receiving
Customer’s report pursuant to Article 6.0 for each Reporting Period, Boeing will use the data provided by the Customer in such report and the methodology in Attachment B to [*] 

7.2 If the data determined pursuant to Article 7.1 indicates that the performance of the Covered Aircraft for the applicable Reporting
Periods does not comply with the Program Commitment, Customer will, upon Boeing’s reasonable request, submit to Boeing or provide Boeing reasonable access to such sufficient information to [*]: 

 

	 	(a)	verify the data reported by Customer pursuant to Article 6.0, and 

  

	 	(b)	analyze the problems causing such Noncompliance and 

  

	 	(c)	develop, when required, appropriate corrective action. 

 7.3 If after completing the verification and analysis described in Article 7.2, the data indicates that the performance of the Covered Aircraft for the applicable Reporting Periods does not comply with
the Program Commitment, Boeing will take corrective action as defined in Article 8.0. Throughout the period of such Noncompliance, Customer, upon request, will submit to Boeing such additional information as is necessary for Boeing to complete its
analysis. 
 7.4 At Customer’s request Boeing will provide Customer sufficient information to verify the data described in
Article 7.1 and 7.3 and the calculations used to produce that data. 
 8.0 Corrective Action. 

8.1 If, for any Reporting Period, the Program Commitment is not met, and Boeing’s obligations are not suspended under Article 6.2,
then: 
 8.1.1 [*] and 
 8.1.2. [*] 
 8.1.3 [*] 

8.1.4. [*] 

8.1.5 [*]

 

 

  

	
	

  

 P.A. No. 3075 
 Maintenance Cost Guarantee 
 BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americano S.A. AVIANCA 
 6-1162-DME-0900    Page 6 

 

  

  
  
 

 
  

 8.2 At Boeing’s [*]request, Customer will assign to Boeing, any of Customer’s
rights against the manufacturer of any equipment, accessory or part installed in the Covered Aircraft as Boeing [*] require to fulfill its obligations with respect to any corrective action provided by Boeing hereunder. 

 

	9.0	Conditions and Limitations. 

 9.1 If, with the intent of reducing the cost of Covered Maintenance, Boeing or any supplier issues service bulletins, service letters or other written instructions or offers no-charge retrofit kits,
which, in each case, are reasonably expected to reduce Actual Maintenance Costs without adversely affecting Customer’s [*] 

9.2 Customer will as promptly as practicable notify Boeing in writing of any variations in applicable maintenance cost accounting system
or procedures which [*] 
 9.3 Upon reasonable notice to Customer, Boeing will have the right to audit all Actual Maintenance
Cost Data reported by Customer during the Program Term, as well as the maintenance practices and procedures related thereto provided [*]. 
 9.4 Upon reasonable notice to Customer, Boeing may inspect Customer’s maintenance facilities, programs and procedures provided that no such inspection shall interfere with Customer’s operations
or maintenance. If Boeing recommends in writing reasonable changes to Customer’s or its subcontractors’ maintenance programs [*] 
 9.5 Actual Maintenance Cost will not include any of the following costs: 
  

	 	(a)	[*] 

  

	 	(b)	[*] 

  

	 	(c)	[*] 

  

	 	(d)	[*] 

  

	 	(e)	[*] 

  

	 	(f)	[*] 

  

	 	(g)	[*] 

 

 

  

	
	

  

 P.A. No. 3075 
 Maintenance Cost Guarantee 
 BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americano S.A. AVIANCA 
 6-1162-DME-0900    Page 7 

 

  

  
  
 

 
  

	 	(h)	[*] 

  

	 	(i)	[*] 

  

	 	(j)	[*] 

  

	 	(k)	[*] 

  

	 	(l)	[*] 

  

	 	(m)	[*] 

 9.6 [*] 

9.7 [*] 
 10.0 Notice 

10.1 All reports submitted to Boeing will be addressed to the attention of: 

Director - BCA Warranty and Supplier Support Contracts 

Boeing Commercial Airplanes 
 P.O. Box 3707 Mail Code 2L-46 
 Fax: 206-544-9171 

Seattle, Washington 98124-2207 

10.2 All reports submitted to Customer will be addressed to the attention of: 

Aerovia del Continente Americano S.A. (Avianca) 
 Centro Administrativo 
 Avenida El Dorado - No. 92-30 

Bogota 

Colombia 
 11.0 Confidential
Treatment. 
 Certain commercial and financial information contained in this Letter Agreement, or provided in accordance
with its terms, is considered as confidential. Each party agrees that it will treat this Letter Agreement and the information contained herein, and any information provided in accordance with its terms, as confidential and will not, without the
prior written consent of the other party, disclose this Letter Agreement or any information contained herein, and any information provided in accordance with its terms, to any other person or entity. [*].

 

 

  

	
	

  

 P.A. No. 3075 
 Maintenance Cost Guarantee 
 BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americano S.A. AVIANCA 
 6-1162-DME-0900    Page 8 

 

  

  
  
 

 
  

 12.0 [*]. 
 [*] 
  

	13.0	Assignment Prohibited. 

Notwithstanding any other provisions of the Purchase Agreement, the rights and obligations described in this Letter Agreement are
provided to Customer in consideration of Customer’s becoming the operator of the Aircraft and cannot be assigned in whole or in part without the prior written consent of Boeing. 
 14.0 DISCLAIMER, RELEASE AND EXCLUSION. 
 THIS LETTER AGREEMENT AND THE RIGHTS AND REMEDIES
OF CUSTOMER AND OBLIGATIONS OF BOEING HEREIN ARE SUBJECT TO THE DISCLAIMER AND RELEASE, AND EXCLUSION OF CONSEQUENTIAL AND OTHER DAMAGES PROVISIONS OF EXHIBIT C, PRODUCT ASSURANCE DOCUMENT, OF THE AGTA. 

If the foregoing correctly sets forth your understanding of our agreement with respect to the matters treated above, please indicate your acceptance and
approval below. 
  

			
	Very truly yours,
	
	THE BOEING COMPANY
		
	By	 	 /s/    Dennis
Egge        

		
	Its	 	
Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
		
	 Date:
	 	 03 October 2006

 
 

 

  

	
	

  

 P.A. No. 3075 
 Maintenance Cost Guarantee 
 BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americano S.A. AVIANCA 
 6-1162-DME-0900    Page 9 

 

  

  
  
 

 
  

			
	AEROVIA DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	By	 	  

		
	Its	 	 CFO

 
 

 

  

	
	

  

 P.A. No. 3075 
 Maintenance Cost Guarantee 
 BOEING PROPRIETARY

 

			
	 Attachment A to
 Aerovia del
Continente Americano S.A. Avianca
 6-1162-DME-0900
	 	Page 1

  

 Attachment A: Covered Aircraft Operational Assumptions 

 

									
	 	  	Labor Rates	  	Contract Percent
	 	  	In-House	  	Contract	  	Labor	  	Material
	 [*]
	  		  		  		  	

  

			
	 Annual Fleet Landings (Total for Year)
	  	[*]
	 Annual Fleet Flight Hours (Total for Year)
	  	[*]

  
 P.A. No. 3075 

Maintenance_Cost_Guarantee 

BOEING PROPRIETARY 

			
	 Attachment B to
 Aerovia del
Continente Americano S.A. Avianca
 6-1162-DME-0900
	 	Page 1

  

 Attachment–B - Adjustments 

Boeing will adjust as described in this Attachment B the Target Maintenance Costs reported in Attachment C and the Actual Maintenance Cost Data reported
in Attachment D. 
 1.0 Currency Exchange Rate. 
 [*] 
 2.0 Escalation Indices. 

2.1 Material Price Inflation. 
 [*] 
 2.2 Labor Price Inflation. 

[*] 
 3.0 Reserved. 

4.0 Reporting Period Adjustments. 
 [*]

 5.0 Recalculation of Target Maintenance Cost. 
 5.1 Airframe Maintenance Performed by Others. 
 [*] 

5.2 Average Flight Time. 
 [*] 
 5.2.1 [*] 

5.2.2 [*] 

  
 P.A. No. 3075 

Maintenance_Cost_Guarantee 

BOEING PROPRIETARY 

			
	 Attachment B to
 Aerovia del
Continente Americano S.A. Avianca
 6-1162-DME-0900
	 	Page 2

  

 5.3 Method for Recalculating Target Maintenance Cost. 

As permitted by paragraph 5.1 or 5.2 of this Attachment B, the Target Maintenance Cost for a Reporting Period will be recalculated using
the following formulas and using the operational parameters provided by the Customer for such Reporting Period: 
 [*]

 [*] 

[*] 
 [*]

 Where: AA, BB, CC and DD have the values reported for those elements on Attachment C to the Letter Agreement.

 5.4 Covered Aircraft. 
 The Target Maintenance Cost is based on the number of Covered Aircraft. If the number of Covered Aircraft changes during any Reporting Period, the Target Maintenance Cost will be recalculated for that
Reporting Period to address any change to the average fleet age by using the methodology specified in paragraph 5.6, below. 

5.5 Delivery Schedule. 
 The Target Maintenance Cost is based on the delivery schedule of Covered Aircraft as described in Table 1 of the Purchase Agreement. If the delivery schedule for the Covered Aircraft changes during any
Reporting Period, the Target Maintenance Cost will be recalculated for that Reporting Period and subsequent Reporting Periods to address any resulting changes to the average fleet age using the methodology specified in paragraph 5.6, below.

 5.6 [*]. 
 [*] 
 5.7 Covered Aircraft Configuration. 

[*] 

  
 P.A. No. 3075 

Maintenance_Cost_Guarantee 

BOEING PROPRIETARY 

			
	 Attachment B to
 Aerovia del
Continente Americano S.A. Avianca
 6-1162-DME-0900
	 	Page 3

  

 Maturity Factors 

Composite Airplanes 
  

																	
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]

 Note: For all intermediate utilization and aircraft ages, interpolate between facors Maturity is defined as a maturity
factor of one (1) 

  
 P.A. No. 3075 

Maintenance_Cost_Guarantee 

BOEING PROPRIETARY 

			
	 Attachment C to
 Aerovia del
Continente Americano S.A. Avianca
 6-1162-DME-0900
	 	Page 1

  

 Attachment C – Target Maintenance Cost for Covered Aircraft and Covered Aircraft Maintenance
Baseline 
 Covered Aircraft Target Maintenance Costs 

 

																																													
	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	2005 USD	 
	 Reporting Period
	  	Fleet
Size	 	  	Average
Fleet
Age
(FHs)	 	  	Target
In-House
Labor Cost
($ per FH)	 	  	+	 	  	Target
In-House
Material Cost
($ per FH)	 	  	+	 	  	Target
Subcontracted
Maintenance
Labor
Cost
($ per FH)	 	  	+	 	  	Target
Subcontracted
Maintenance
Material Cost
($ per FH)	 	  	=	 	  	Projected
Target
Maintenance
Cost
($ per
FH)	 
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  

  
 P.A. No. 3075 

Maintenance_Cost_Guarantee 

BOEING PROPRIETARY 

			
	 Attachment C to
 Aerovia del
Continente Americano S.A. Avianca
 6-1162-DME-0900
	 	Page 2

  

 Covered Aircraft Maintenance Cost Baseline Values 

 

																	
	 	  	Material
$ per FH	 	  	Material
$ per
Cycle	 	  	Labor
Hours
per FH	 	  	Labor
Hours
per
Cycle	 
	 	  	AA	 	  	BB	 	  	CC	 	  	DD	 
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  

  

									
	 	  	Labor Cost per FH	  	Material Cost per FH
	 [*]
	  	[*]	  	[*]
	 [*]
	  	[*]	  	[*]
	 [*]
	  	[*]	  	[*]

  
 P.A. No. 3075 

Maintenance_Cost_Guarantee 

BOEING PROPRIETARY 

			
	 Attachment D to
 Aerovia del
Continente Americano S.A. Avianca
 6-1162-DME-0900
	 	Page 1

  

			
	To:	  	Director - BCA Warranty and Supplier Support
		  	Boeing Commercial Airplanes
		  	P.O. Box 3707     Mail Stop 76-02
		  	Fax: 206-544-9171
		  	Seattle, Washington 98124-2207
		
	Reference:	  	Letter Agreement No. 6-1162-DME-0900 to Purchase Agreement No. 3075
		  	Airframe Maintenance Cost Protection Program
		
	Subject:	  	Data reported pursuant to Article 6.0 of the referenced Letter Agreement.

 Reporting Period No.      
 Beginning date                     ending date
                     
 Currency of the
costs shown below:                      
  

									
	 Actual Maintenance Costs
	  	Direct
Labor Cost
(total cost)	  	Direct
Material Cost
(total cost)	  	Subcontracted
Maintenance
Labor Costs
(total cost)	  	Subcontracted
Maintenance
Material Costs
(total
cost)
	 Total
	  		  		  		  	
		  	  
	  	  
	  	  
	  	  

 Note: The above labor costs have been calculated in accordance with Article 4.2. of the referenced Letter Agreement and
are exclusive of time consumed by employees while waiting for work, traveling to or from work, training, vacation, sick leave, or in any other similar absences from the actual maintenance work. The above material costs have been calculated in
accordance with Article 4.2 of the referenced Letter Agreement and exclude all costs described in Article 9.0 therein. 
  

			
	[*]	  	
	[*]	  	
	[*]	  	
	[*]	  	
	[*]	  	
	 [*]
	  	

 The above labor rate has been calculated in accordance with Article 4.2 of the Letter Agreement and excludes, without
limitation, all fringe benefits, premium time allowances, social charges and business taxes. 

  
 P.A. No. 3075 

Maintenance_Cost_Guarantee 

BOEING PROPRIETARY 

			
	 Attachment D to
 Aerovia del
Continente Americano S.A. Avianca
 6-1162-DME-0900
	 	Page 2

  

 All information in this report is the be treated as Confidential Information pursuant to Section
     of the AGTA. 
  

									
	By	 	  
	 		 	Date	 	  

					
	Its	 	  
	 		 		 	

  
 P.A. No. 3075 

Maintenance_Cost_Guarantee 

BOEING PROPRIETARY 

			
	 Attachment E to
 Aerovia del
Continente Americano S.A. Avianca
 6-1162-DME-0900
	 	Page 1

  

			
	To:	  	Aerovia del Continente Americano S.A. (Avianca)
		
	Reference:	  	Letter Agreement No6-1162-DME-0900 to Purchase Agreement No. 3075
		  	Airframe Maintenance Guarantee
		
	Subject:	  	Data reported pursuant to Article 7.0 of the referenced Letter Agreement.

 Reporting Period No.      
 Beginning date                     ending date
                     
 Actual Maintenance
Costs as reported by Customer expressed in U.S. Dollars: 
  

																	
	 [*]
	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  	  	 	[*]	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Total
	  				  				  				  			
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 

 Actual Maintenance Costs and Target Maintenance Costs as determined by Boeing expressed in U.S. dollars. 

 

											
	 	  	Reporting
Period 1	  	Reporting
Period 2	  	Reporting
Period 3	  	Reporting
Period 4	  	Reporting
Period 5
	 Year
	  	 	  	 	  	 	  	 	  	 
						
	 [*]
	  		  		  		  		  	
	 [*]
	  		  		  		  		  	
	 [*]
	  		  		  		  		  	
	 [*]
	  		  		  		  		  	
	 [*]
	  		  		  		  		  	
	 [*]
	  		  		  		  		  	
						
	 [*]
	  		  		  		  		  	
						
	 [*]
	  		  		  		  		  	
	 [*]
	  		  		  		  		  	
	 [*]
	  		  		  		  		  	
	 [*]
	  		  		  		  		  	
						
	 [*]
	  		  		  		  		  	
	 [*]
	  		  		  		  		  	
						
	 [*]
	  		  		  		  		  	
	 [*]
	  		  		  		  		  	
	 [*]
	  		  		  		  		  	
	 Cumulative Average Target Maintenance Cost
	  		  		  		  		  	

  
 P.A. No. 3075 

Maintenance_Cost_Guarantee 

BOEING PROPRIETARY 

			
	 Attachment E to
 Aerovia del
Continente Americano S.A. Avianca
 6-1162-DME-0900
	 	Page 2

  

 Very truly yours, 
 THE BOEING COMPANY 
  

			
	Reported by	 	  

		
	Its	 	  

		
	Date	 	  

  
 P.A. No. 3075 

Maintenance_Cost_Guarantee 

BOEING PROPRIETARY 

			
	 Attachment F to
 Aerovia del
Continente Americano S.A. Avianca
 6-1162-DME-0900
	 	Page 1

  

 Attachment F – Recalculated and Adjusted Target Maintenance Cost for Covered
Aircraft 
  

			
	To:	  	Aerovia del Continente Americano S.A. (Avianca)
		
	Reference:	  	Letter Agreement No. 6-1162-DME-0900 to Purchase Agreement No. 3075
		  	Airframe Maintenance Cost Protection Program
		
	Subject:	  	Data reported pursuant to Article 5.3 of the referenced Letter Agreement.

  

																													
	 Reporting Period
	  	[*]	  	[*]	  	[*]	 	  	[*]	  	[*]	 	  	[*]	  	[*]	  	[*]	  	[*]	 	  	[*]	  	[*]
	 One
	  		  		  	$	            	  	  	+	  	$	            	  	  	+	  		  		  	$	            	  	  	=	  	
	 Two
	  		  		  	$	 	  	  	+	  	$	 	  	  	+	  		  		  	$	 	  	  	=	  	
	 Three
	  		  		  	$	 	  	  	+	  	$	 	  	  	+	  		  		  	$	 	  	  	=	  	
	 Four
	  		  		  	$	 	  	  	+	  	$	 	  	  	+	  		  		  	$	 	  	  	=	  	
	 Five
	  		  		  	$	 	  	  	+	  	$	 	  	  	+	  		  		  	$	 	  	  	=	  	

  
 P.A. No. 3075 

Maintenance_Cost_Guarantee 

BOEING PROPRIETARY 

  

					
		 	 The Boeing Company
 P.O.
Box 3707
 Seattle, WA 98124-2207
	 	

 
 

 

  
  
 

 
  

 APPENDIX F 
 6-1162-DME-090I R2 
 Aerovias del Continente Americano S.A. AVIANCA 

Centro Administrativo 
 Avenida El Dorado -
No. 92-30 
 Bogota 
 Colombia

  

			
	Subject:	  	Advance Payment Matters
		
	Reference:	  	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americana S.A. AVIANCA (Customer) relating to Model 787-859
aircraft (the Aircraft)

 This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. All terms used but not defined in
this Letter Agreement have the same meaning as in the Purchase Agreement. 
 [*] 

 

	1.	Advance Payment Schedule – Block 1-1 Aircraft:  

 Notwithstanding the advance payment schedule set forth in Table 1-1 of the Purchase Agreement, Boeing agrees that Customer may make Advance Payments for the Block 1-1 Aircraft in accordance with the
reduced schedule below described, as applied to the original Aircraft delivery schedule advance payment base prices (see Attachment A, hereto), subject to the terms and conditions further described herein: 

 

					
	 Months Prior to Aircraft Delivery
	  	Amount Due per Aircraft
(Percent times
Advance Payment Base Price)	 
		
	 Definitive Agreement
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  
		  	  
	  
	 
		
	 Total
	  	 	[*]	  

 
 

 

	
	

  

			
	P.A. No. 3075	  	SA-3

 PROPRIETARY

 

  
  

			
	 Aerovias del Continente Americano S.A. Avianca
 6-1162-DME-0901R2
	 	Page 2

 
 

  

  
  
 

 
  

 [*] 
  

	2.	Advance Payment Schedule – Block 1-2 Aircraft:  

 Notwithstanding the advance payment schedule set forth in Table 1-2 of the Purchase Agreement, Boeing agrees that Customer may make Advance Payments for the Block 1-2 Aircraft in accordance with the
reduced schedule below [*] 
  

					
	 Months Prior to Aircraft Delivery
	  	Amount Due per Aircraft
(Percent
times
Advance Payment Base Price)	 
		
	 Definitive Agreement
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  
		  	  
	  
	 
		
	 Total
	  	 	[*]	  

 [*]

 

 

  
  

			
	P.A. No. 3075	 	SA-3

 PROPRIETARY

 

  
  

			
	 Aerovias del Continente Americano S.A. Avianca
 6-1162-DME-0901R2
	 	Page 3

 
 

  

  
  
 

 
  

 [*] 
  

	3.	Advance Payment Schedule – Block 1-3 Aircraft:  

 Notwithstanding the advance payment schedule set forth in Table 1-3 of the Purchase Agreement, Boeing agrees that Customer may make Advance Payments for the Block 1-3 Aircraft in accordance with the
reduced schedule below [*] 
  

					
	 Months Prior to Aircraft Delivery
	  	Amount Due per Aircraft
(Percent
times
Advance Payment Base Price)	 
		
	 Definitive Agreement
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  
	 [*]
	  	 	[*]	  
		  	  
	  
	 
		
	 Total
	  	 	[*]	  

 [*] 
  

	4.	Deferral Chartes on Deferred Advance Payments:  

 [*] 
 [*]

 

 

  
  

			
	P.A. No. 3075	 	SA-3

 PROPRIETARY

 

  
  

			
	 Aerovias del Continente Americano S.A. Avianca
 6-1162-DME-0901R2
	 	Page 4

 
 

  

  
  
 

 
  

 [*] 
 [*] 
 [*] 
  

	5.	[*] 

 [*] 

[*] 
  

	6.	[*] 

 [*]

 

 

  
  

			
	P.A. No. 3075	 	SA-3

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	 Aerovias del Continente Americano S.A. Avianca
 6-1162-DME-0901R2
	 	Page 5

 
 

  

  
  
 

 
  

 [*] 
  

	7.	Confidential Treatment:  

 Customer
understands that certain commercial and financial information contained in this Letter Agreement is considered by Boeing as confidential and, except as may otherwise be provided herein, will not, without the prior written consent of Boeing, disclose
this Letter Agreement or any information contained herein to any other person or entity except to employees and legal counsel of Customer with a need to know the contents for purposes of helping Customer negotiate, perform and/or enforce this Letter
Agreement and/or the Purchase Agreement and who understand they are not to disclose its contents to any other person or entity without the prior written consent of Boeing. [*]

 

 

  
  

			
	P.A. No. 3075	 	SA-3

 PROPRIETARY

 

  
  

			
	 Aerovias del Continente Americano S.A. Avianca
 6-1162-DME-0901R2
	 	Page 6

 
 

  

  
  
 

 
  

 If the foregoing correctly sets forth your understanding of our agreement with respect to the matters
treated above, please indicate your acceptance and approval below 
 Very truly yours, 

 

			
	THE BOEING COMPANY
		
	By	 	 Alan W. Smith

		
	Its	 	 Attorney-in-Fact

	
	ACCEPTED AND AGREED TO this
		
	Date:	 	 Sept. 26, 2012

	
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	By	 	  

		
	Its	 	 Legal Rep

 
 

 

  
  

			
	P.A. No. 3075	 	SA-3

 PROPRIETARY

 

 Attachment A to Letter Agreement No. 6-1162-DME-0901R2 to Table 1-1 

to Purchase Agreement No. 3075 
 Aircraft Delivery, Description, Price and Advance Payments 
  

									
	Airframe ModeliNITOW:	 	787-8	  	[*]	  	Detail Specification:	  	787BI-4102-8 (7/9/2007)
					
	Engine Model/Thrust:	 	TRENT[*]	  		  	Airframe Price BAR Year/Escalation Formula:	  	[*]
					
	Airframe Price:	 		  	[*]	  	Engine Price Base Year/Escalation Formula:	  	[*]
					
	Optional Features:	 		  	[*]	  		  	
					
	Sub-Total of Airframe and Features:	 		  	[*]	  	Airframe Escalation Data:	  	
					
	Engine Price (Per Aircraft):	 		  	[*]	  	Elise Year Index (EC1):	  	[*]
				
	Aircraft Basic Price (ErcludIng BFE/SPE):	  	[*]	  	Base Year Index (CPO:	  	[*]
				
	Royer Furnished Equipmen1(BFE) Estimate:	  	[*]	  	Engine Escalation Dahl:	  	
				
	Seller Purchased Kquipment (SPE) Estimate:	  	[*]	  	Rase Year hider (ECI):	  	[*]
					
		 		  	[*]	  	Hate Year Index (CPI):	  	[*]
				
	Refundable Deposit/ Aircraft at Proposal Accept:	  	[*]	  		  	

  

																			
	 [*]
	  	Number of
Aircraft	  	Escalation
Factor
(Airframe)	 	Escalation
Factor
(Engine)	 	[*]	 	EVENISkii011 Estimate
Adv Payload
Base
Price Per AlP	 	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to 
Deliveirst
	  	  	 	 	 	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	  	I	  	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	  	I	  	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	  	I	  	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	  	1	  	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	  	I	  	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	  	I	  	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	  	I	  	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	  	I	  	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	  	I	  	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	  	I	  	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
		  	  
	  	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

	 Total:
	  	10	  		 		 		 		 		 		 		 	

  

					
	AVI	 		 	Page 1
		 	Boeing Proprietary	 	SA-3

 Attachment B to Letter Agreement No. 6-1162-DME-0901R2 

to Table 1-2 to Purchase Agreement No. 3075 
 Aircraft Delivery, Description, Price and Advance Payments 
  

									
	Airframe ModeIIMTOW:	 	787-8	  	[*]	  	Detail Specification:	  	787B1-
4102-B
(7/9/2007)
					
	Engine Model/Thrust:	 	TRENT [*]	  	[*]	  	Airframe Price Base Year/Escalation Formula:	  	[*]
					
	Airframe Price:	 		  	[*]	  	Engine Price Base Year/Escalation Formula:	  	[*]
					
	Optional Features:	 		  	[*]	  		  	
					
	Sub-Total of Airframe and Features:	 		  	[*]	  	Airframe Escalation Data:	  	
					
	Engine Price (Per Aircraft):	 		  	[*]	  	Base Year Index (ECI):	  	[*]
					
	Aircraft Basic Price (Excluding BFE/SPE):	 		  	[*]	  	Base Year Index (CPI):	  	[*]
					
	Buyer Furnished Equipment (BFE) Estimate:	 		  	[*]	  	Eneine Escalation Data:	  	
					
	Seller Purchased Equipment (SPE) Estimate:	 		  	[*]	  	Base Year Index (ECI):	  	[*]
					
		 		  		  	Base Year Index (CPI):	  	[*]
					
	Refundable DeposIVAireraft at Proposal Accept:	 		  	[*]	  		  	

  

																			
	 [*]
	  	Number of
Aircraft	  	Escalation
Factor
(Airframe)	 	Escalation
Factor
(Engine)	 	[*]	 	Escalation Estimate
Adv Payment 
Base
Price Per A/P	 	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to 
Delivery):
	  	  	 	 	 	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	  	1	  	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	 [*]
	  	1	  	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
		  	  
	  	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

	 Total:
	  	2	  		 		 		 		 		 		 		 	

  

					
	AVI	 		 	Page 2
		 	Boeing Proprietary	 	SA-3

  
  

					
		 	The Boeing Company	  	
		 	P.O. Box 3707	  	
		 	Seattle, WA 98124-2207	  	

 6-1162-DME-0902 

Aerovias del Continente Americano S.A. AVIANCA 

Centro Administrativo 
 Avenida El Dorado -
No. 92-30 
 Bogota 
 Colombia

  

			
	Subject:	  	Promotional Support Agreement
		
	Reference:	  	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to Model 787-859
aircraft (Aircraft).

 This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. All terms used but not defined in
this Letter Agreement have the same meaning as in the Purchase Agreement. 
 Recital. 

Boeing and Customer wish to enter into an agreement pursuant to which each party will contribute equally to promotional programs in support of the entry
into service of the Aircraft as more specifically provided below. 
 Agreement. 

 

	1.	Definitions. 

 1.1
“Covered Aircraft” shall mean those Aircraft identified on Table 1 to the Purchase Agreement as of the date of signing of this Letter Agreement. 
 1.2 “Promotional Support” shall mean marketing and promotion programs in support of the entry into service of the Covered Aircraft such as marketing research, tourism development, corporate
identity, direct marketing, video tape or still photography, planning, design and production of collateral materials, management of promotion programs, advertising campaigns or such other marketing and promotional activities as the parties may
mutually agree. 
 1.3 “Commitment Limit” shall have the meaning set forth in Article 2, below.

 

  
  
  

  
  

			
	P.A. No. 3075	 	

 BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americano S.A. AVIANCA 
 6-1162-DME-0902    Page 2 

 

  

  
  
 

 
  

 1.4 “Performance Period” shall mean the period beginning [*] before and ending
[*] after delivery of the first Covered Aircraft, with the exception that up to [*] of this Boeing commitment may be utilized by Customer as [*]. 
 1.5 “Qualifying Third Party Fees” shall mean fees paid by Customer during the Performance Period to third party providers for Promotional Support provided to Customer during the Performance
Period. 
  

	2.	Commitment. 

 As more particularly set
forth in this Letter Agreement Boeing agrees to provide Promotional Support to Customer in a value not to exceed [*] Dollars) for the first Covered Aircraft delivered to Customer and not to exceed $[*] Dollars) per Covered Aircraft for each Covered
Aircraft delivered to Customer thereafter (Commitment Limit). 
  

	3.	Methods of Performance. 

 Subject to the
Commitment Limit, Customer may elect to receive the Promotional Support in either or any combination of the following ways: 

3.1 At Customer’s request and with respect to a mutually agreed project Boeing will provide Promotional Support during the
Performance Period directly to Customer in value equivalent to Qualifying Third Party Fees. 
 3.2 Boeing will reimburse [*]
percent ([*]%) of Customer’s payments of Qualifying Third Party Fees provided that Customer provides Boeing copies of paid invoices for such Qualifying Third Party Fees no later than [*] months after the delivery of the first Covered Aircraft.
There will be no cash payments or other support in lieu thereof. 
  

	4.	Commencement Date. 

 Boeing’s
obligation to provide Promotional Support will commence when the purchase of the Covered Aircraft becomes firm (not subject to cancellation by either party). 
  

	5.	Project Approval. 

 Following the
execution of this Letter Agreement, a Boeing Airline Marketing Services representative will meet with Customer’s designated representative to review and approve the extent, selection, scheduling, and funds disbursement process for the
Promotional Support to be provided pursuant to this Letter Agreement. 

 

 

  
  

			
	P.A. No. 3075	 	SA-3

 Promotional Support Agreement 

BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americano S.A. AVIANCA 
 6-1162-DME-0902    Page 3 

 

  

  
  
 

 
  

	6.	Confidentiality. 

 Customer understands
that certain commercial and financial information contained in this Letter Agreement is considered by Boeing as confidential. Customer agrees that it will treat this Letter Agreement and the information contained herein as confidential and will not,
without the prior written consent of Boeing, disclose this Letter Agreement or any information contained herein to any other person or entity. [*]. 
 Very truly yours, 
  

			
	THE BOEING COMPANY
		
	By	 	 /s/ Dennis Egge

		
	Its	 	
Attorney-In-Fact

	
	ACCEPTED AND AGREED TO this
		
	Date:	 	03 October, 2006
	
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	By	 	  

		
	Its	 	 CFO

 
 

 

  
  

			
	P.A. No. 3075	 	SA-3

 Promotional Support Agreement 

BOEING PROPRIETARY

 

  
  

					
		  	The Boeing Company	  	
		  	P.O. Box 3707	  	
		  	Seattle, WA 98124-2207	  	

 APPENDIX G 
 6-1162-DME-0903R2 
 Aerovias del Continente Americano S.A. AVIANCA 

Centro Administrativo 
 Avenida El Dorado -
No. 92-30 
 Bogota 
 Colombia

  

			
	Subject:	  	Right to Purchase Additional Aircraft
		
	Reference:	  	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americana S.A. AVIANCA (Customer) relating to Model 787-8
aircraft (Aircraft)

 This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. All capitalized terms used but
not defined in this Letter Agreement have the same meaning as in the Purchase Agreement. 
  

	1.	Basic Purchase Rights 

Subject to the terms and conditions contained herein, in addition to the Aircraft described in Table 1-1 to the Purchase Agreement
as of the date of execution ofthis Letter Agreement, Customer will have the right to purchase (Basic Purchase Right) ten (10) additional Boeing Model 787-8 aircraft on the terms and conditions described in this Letter Agreement (Basic Purchase
Right Aircraft). [*]. 
 1.1 Delivery. 
 The Basic Purchase Right Aircraft are offered subject to available position for delivery during the period 01 January 2016 through 31 December 2019, with delivery— of three (3) such Basic Purchase Right Aircraft to occur in each of the calendar years 2016 through 2018, and delivery of one (1) such Basic Purchase Right Aircraft to
occur in calendar year 2019. [*] 
 [*] 
 1.2. Notice of Exercise and Payment of Deposit 
 Customer may exercise a Basic Purchase
Right by giving written notice to Boeing (Notice of Exercise) of its desire to exercise such Basic Purchase Right not later than the first business day of the month that is [*] months prior to a requested delivery position. [*].

 

  
  
  

  
  

			
	P.A. No. 3075	 	

 BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americana S.A. AV1ANCA 
 6-1162-DME-0903R2 

 

  

  
  
 

 
  

 [*]. 
 Customer will pay to Boeing by electronic transfer to the account specified below a deposit (Deposit) in the amount shown on Table 1-1 to the Purchase Agreement for each Basic Purchase Right Aircraft
purchased pursuant to the Notice of Exercise. The deposit will be due and payable on the date of Customer’s acceptance of Boeing’s offered delivery position of a Basic Purchase Right Aircraft. The Deposit will be applied against the first
advance payment due for each such Basic Purchase Right Aircraft. 
 [*]

 

 

  
  

			
	P.A. No. 3075	 	SA 3

 BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americana S.A. AV1ANCA 
 6-1162-DME-0903R2 

 

  

  
  
 

 
  

 1.3. Configuration 

1.3.1 Subject to the provisions of Article 1.3.2, below, the configuration for the Basic Purchase Right Aircraft will be the detail
specification for model 787-8 aircraft at the revision level in effect at the time of the Notice of Exercise. Such detail specification will be revised to include (i) changes applicable to such detail specification that are developed by Boeing
between the date of the Notice of Exercise and the signing of the definitive amendment to the Purchase Agreement providing for the purchase of the Basic Purchase Rights Aircraft. (ii) changes required to obtain required regulatory certificates,
and (iii) other changes as mutually agreed by Boeing and Customer. 
 1.3.2 Boeing reserves the right to configure the
Basic Purchase Right Aircraft starting from a different configuration specification, provided that it can achieve the same configuration which would result pursuant to the provisions of Article 1.3.1 [*]. 

1.4. Price 

The Aircraft Price of each Basic Purchase Right Aircraft shall be determined in accordance with the provisions of the Purchase Agreement
using Boeing’s then-current prices at the time of signing of the definitive agreement (Then-current Prices), except that: 

(i) [*] 
 (ii)
[*]. 
 Advance payments are required for each Basic Purchase Right Aircraft. The remainder of the Aircraft Price will be due at
delivery of each Basic Purchase Right Aircraft. The methodology used to estimate the Advance Payment Base Prices will be that specified in the Purchase Agreement at the date of signing of this Letter Agreement, and the escalation indices used to
estimate the Advance Payment Base Prices [*] the purchase of the [*] as such provisions are modified by any other letter agreement amending or supplementing the Purchase Agreement. 

1.5. [*] 
 [*]. 

[*]. 
 [*]. 

[*]. 
 [*] 

1.6. Definitive Purchase Agreement. 
 Following Customer’s decision to exercise a [*], or to exercise an [*], in accordance with the terms and conditions stated herein, the parties will, within [*] calendar days of such exercise (or. if
applicable, within [*] days of Customer’s 

 

 

  
  

			
	P.A. No. 3075	 	SA 3

 BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americana S.A. AV1ANCA 
 6-1162-DME-0903R2 

 

  

  
  
 

 
  

 
acceptance of an alternate delivery month), sign a definitive amendment to the Purchase Agreement providing for the purchase of such [*]. Such amendment will include the provisions then contained
in the Purchase Agreement as modified to reflect the provisions of this Letter Agreement and any additional mutually agreed terms and conditions. 
 1.7. General Expiration of Rights. 
 Each Basic Purchase Right shall expire
at the time of execution of the amendment to the Purchase Agreement providing for the purchase of the applicable [*], or, if no such amendment to the Purchase Agreement is executed. on 30 June ()leach of the calendar years 2015 through 2018 for
any then unexercised [*] with respect to the first calendar year commencing after such date. 
  

	 	2.	[*] 

 Subject to the terms and
conditions contained herein, in addition to the Aircraft described in Table 1-3 to the Purchase Agreement as of the date of execution of Supplemental Agreement No. 3, Customer will have the right to purchase [*] Boeing Model 787-S aircraft on
the terms and conditions described in this Letter Agreement ([*]). Customer’s right of substitution with respect to any Boeing Model 787-8 aircraft pursuant to the Purchase Agreement (or any other letter agreement amending and supplementing the
Purchase Agreement) shall be applicable to each such [*]. 

 

 

  
  

			
	P.A. No. 3075	 	SA 3

 BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americana S.A. AV1ANCA 
 6-1162-DME-0903R2 

 

  

  
  
 

 
  

 2.1 Delivery. 

The [*] are offered subject to available position for delivery prior to 31 December 2019, 

Boeing will provide Customer with [*] positions by [*]. At not less than [*]. 

2.2. Notice of Exercise and Payment of Deposit 
 Customer may exercise a Special Purchase Right under the same terms and conditions as described in Article 1.2 above for Basic Purchase Rights. 

2.3, Configuration 
 With Customer’s exercise of a [*], the configuration will be determined under the [*]. 
 2.4. Price 
 The Aircraft Price of each [*] shall be determined in
accordance with the provisions of the Purchase Agreement using Boeing’s [*]. 
 Advance payments are required for
each [*]. The remainder of the Aircraft Price will be due at delivery of each [*]. The methodology to determine Advance Payment Base Prices and escalation will be based upon Boeing’s [*]. 

2.5 Definitive Purchase Agreement. 
 Following Customer’s decision to exercise a [*] in accordance with the terms and conditions stated herein. the parties will, within [*] calendar days of such exercise (or. if applicable, within [*]
days of Customer’s acceptance of an alternate delivery month), sign a definitive amendment to

 

 

  
  

			
	P.A. No. 3075	 	SA 3

 BOEING PROPRIETARY

 

  
  
  

					
		 	 The Boeing Company
 P.O.
Box 3707
 Seattle, WA 98124-2207
	 	

 
 

  

  
  

 
 

 
  

 
the Purchase Agreement providing for the purchase of such [*]. Such amendment will include the provisions then contained in the Purchase Agreement as modified to reflect the provisions of
this Letter Agreement and any additional mutually agreed terms and conditions. 
 2.6. General Expiration of Rights.

 Each [*] shall expire at the time of execution of the amendment to the Purchase Agreement providing for the purchase of the applicable
[*], or, if no such amendment to the Purchase Agreement is executed, on 30 June of 2018 for any then unexercised [*]. 
  

	3.	Assignment. 

 The Purchase Rights
described in this Letter Agreement are provided in consideration of Customer’s becoming the operator of each Purchase Right Aircraft, and cannot be assigned, in whole or in part. without the prior written consent of Boeing. 

 

	4.	Confidential Treatment. 

 Customer
understands that certain commercial and financial information contained in this Letter Agreement is considered by Boeing as confidential and, except as may otherwise be provided herein. will not, without the prior written consent of Boeing. disclose
this Letter Agreement or any information contained herein to any other person or entity except to employees and legal counsel of Customer with a need to know the contents for purposes of helping Customer negotiate, perform and/or enforce this Letter
Agreement and/or the Purchase Agreement and who understand they are not to disclose its contents to any other person or entity without the prior written consent of Boeing. [*] 
 If the foregoing correctly sets forth your understanding of our agreement with respect to the matters treated above, please indicate your acceptance and approval below.

 

 

  
  

					
	P.A. No. 3075	 		 	SA-3

 BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americana S.A. AV1ANCA 
 6-1162-DME-0903R2 
  

			
	6-1162-DM L-0903R2	  	Page 8

 
 

  

  
  
 

 
  

			
	Very truly yours,
	
	THE BOEING COMPANY
		
	By:	 	 Alan W. Smith

		
	Its	 	 Attorney-In-Fact

	
	ACCPETED AND AGREED TO this

  

			
	Date:	 	Sept. 26, 2012

AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA 

Aerovias del Continente Americana S.A. AV1ANCA 
  

			
	By:	 	  

		
	Its	 	  

  

			
	P.A. No. 3075	 	BOEING PROPRIE

 
 

 

  
  

			
	P.A. No. 3075	 	SA 3

 BOEING PROPRIETARY

 

 BOEING PROPRIETARY 
 Aerovias del Continente Americano S.A. AVIANCA 
  

			
	Attachment A to 6-1 162-DME-0903R2	  	Page 1

 Record of Purchase Right Aircraft Exercised 

 

																	
	 Document Description
	  	Effective
Date	 	  	Basic
Purchase
Rights
Remaining	 	 	Special
Purchase
Rights
Remaining	 	 	Total
Remaining
Purchase
Rights	 
					
	 PA-3075
	  	 	03 October 2006	  	  	 	7	  	 	 	0	  	 	 	7	  
					
	 SA-1
	  	 	28 March 2007	  	  	 	10	  	 	 	0	  	 	 	10	  
					
	 SA-2
	  	 	21 November 2007	  	  	 	8	  	 	 	2	  	 	 	10	  
					
	 SA-3
	  	 	2012	  	  	 	 	* 	 	 	 	* 	 	 	 	* 
		  				  	  
	  
	 	 	  
	  
	 	 	  
	  
	 

  

	*	after the effect of exercise of the three (3) remaining Purchase Rights as a part of SA-3. 

  

					
	P.A. No. 3075	 		 	SA 3

 BOEING PROPRIETARY

  
  

					
		 	 The Boeing Company
 P.O.
Box 3707
 Seattle, WA 98124-2207
	 	

 
 

  

  
  

 

					
	6-1162-DME-0904	  		  	

 Aerovias del Continente Americano S.A. AVIANCA 
 Centro Administrativo 
 Avenida El Dorado - No. 92-30 

Bogota 
 Colombia 

 

			
	Subject:	  	Special Matters
		
	Reference:	  	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVANCA (Customer) relating to
Model 787-859 aircraft (Aircraft)

 This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. All terms used but not defined in
this Letter Agreement have the same meaning as in the Purchase Agreement. 
 1. [*] 

The [*] associated with the purchase of the model 787-8 Aircraft and purchase right model 787-8 aircraft will be [*] per Aircraft,
[*]. 
 Should Customer choose to exercise its substitution rights for a model 787-8 aircraft to become a model 787-9 aircraft, the
associated [*] applicable to each such substitution model 787-9 aircraft will be [*] per Aircraft, [*] 
 Such [*]
will be issued concurrently with the delivery of each of the Aircraft and/or [*], may be used toward the final delivery purchase payment, or for other Boeing goods and services, but not for advance payments.

 

 

  
  

					
	 P.A. No. 3075
 Special
Matters
	 		 	

 BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americana S.A. AV1ANCA 
 6-1162-DME-0904 Page 2 

 

  

  
  

 
 

 
  

 2. [*] 
 A special [*] is offered to Customer, applicable to each of the model 787-8 Aircraft[*] per Aircraft, [*]. 
 Should Customer choose to exercise its substitution rights for a model 787-8 aircraft to become a model 787-9 aircraft, the associated special Boeing goods & services credit memorandum applicable
to each such substitution model 787-9 aircraft will be Two Million Seven Hundred Thousand Dollars ($2,700,000 in July 2005 $’s) per Aircraft, subject to escalation to the time of Aircraft delivery. 

Such [*] will be issued concurrently with the delivery of each of the Aircraft, may not be assigned without Boeing’s express consent, and may
be used for the final delivery purchase payment, but not for advance payments. 
 3. [*] 

Boeing recognizes that Customer has the opportunity to become the first South American airline to operate the model 787. Boeing offers to provide a
special [*] , associated with the purchase of the reference proposed model 787-8 Aircraft, [*] per Aircraft, [*]. 
 [*]

 [*]

 

 

  
  

 P.A. No. 3075 
 Special Matters 
 BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americana S.A. AV1ANCA 
 6-1162-DME-0904 Page 3 

 

  

  
  
 

 
  

 4. [*] 
 [*] 
 [*]. 
 [*]. 
 5. [*] 
 [*] 
 6. [*] 
 As an accommodation to Customer for entering into the Purchase Agreement, Boeing agrees to allow Customer [*]: 
  

	 	•	 	 [*]; 

  

	 	•	 	 [*]; 

  

	 	•	 	 [*]; 

  

	 	•	 	 [*]; 

  

	 	•	 	 [*].

 

 

  
  

 P.A. No. 3075 
 Special Matters 
 BOEING PROPRIETARY

 

  
  

 Aerovias del Continente Americana S.A. AV1ANCA 
 6-1162-DME-0904 Page 4 

 

  

  
  
 

 
  

 [*]. 
 [*]. 
 [*]. 
 7. Assignment [*] 
 The [*] described in this Letter Agreement are provided as a financial
accommodation to Customer in consideration of Customer becoming the operator of the Aircraft, and cannot be assigned, in whole or in part, without the prior written consent of The Boeing Company, which will not be unreasonably withheld. 

8. [*] 
 Customer understands that
certain commercial and financial information contained in this Letter Agreement is considered by Boeing as confidential. Customer agrees that it will treat this Letter Agreement and the information contained herein as confidential and will not,
without the prior written consent of Boeing, disclose this Letter Agreement or any information contained herein to any other person or entity. [*].

 

 

  
  

 P.A. No. 3075 
 Special Matters 
 BOEING PROPRIETARY

 

 Aerovias del Continente Americana S.A. AV1ANCA 
 6-1162-DME-0904 Page 5 

 

  

  
  
 

 
  

			
	Very truly yours,
	
	THE BOEING COMPANY
		
	By	 	 /s/ Dennis Egge

		
	Its	 	
Attorney-In-Fact

 ACCEPTED AND AGREED TO this 
  

			
	Date:	 	03 October 2006

  

			
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	By	 	  

		
	Its	 	 CFO

 
 

 P.A. No. 3075 
 Special Matters 
 BOEING PROPRIETARY

 

 

  
  
 

 
  

					
		 	 The Boeing Company
 P.O.
Box 3707
 Seattle, WA 98124-2207
	 	

 APPENDIX H 
 6-1162-DME-0905R1 
 Aerovias del Continente Americana S.A. AVIANCA 

Centro Administrativo 
 Avenida El Dorado -
No. 92-30 
 Bogota 
 Colombia

  

			
	Subject:	  	Escalation [*]
		
	Reference:	  	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to Model 787-8 (the
Aircraft)

 This Letter Agreement amends and supplements the Purchase Agreement. All terms used but not defined in this Letter
Agreement have the same meaning as in the Purchase Agreement. 
 Customer and Boeing have reached agreement regarding certain modifications to
the Purchase Agreement as set forth below: 
  

	1.	Airframe Escalation - [*]. 

Boeing agrees that at the time of delivery of such Aircraft prior to [*], the Airframe Price Adjustment that is determined by Supplemental
Exhibit AEI to the Purchase Agreement applicable to the Airframe and Optional Features will not exceed the escalation adjustment determined by using the escalation cap factor set forth in the Attachment A for an Aircraft delivering in the
corresponding month and year. For example, in the event the [*] determined by Supplemental Exhibit AEI for a particular delivery month and year is [*]. 
 P.A. No. 3075 
 SA-3

 

  
  

	
	

  
  

 Aerovias del Continence Americano S.A. A VlANCA 
 6-1 I 62-DME-0905RI 

 

  

  
  
 

 
  

	 	2.	[*]. 

 For deliveries occurring
after [*] will be determined by using the Supplemental Exhibit AEI. 
  

	 	3.	Credit Memorandum Escalation. 

Any credit memorandum provided for under the Purchase Agreement that is subject to escalation shall be escalated to the scheduled month of
delivery of the Aircraft in accordance with the same escalation provisions applicable to the Aircraft. 
  

	4.	Confidential Treatment. 

Customer understands that certain commercial and financial information contained in this Letter Agreement is considered by Boeing as
confidential and. except as may otherwise be provided herein, will not, without the prior written consent of Boeing, disclose this Letter Agreement or any information contained herein to any other person or entity except to employees and legal
counsel of Customer with a need to know the contents for purposes of helping Customer negotiate, perform and/or enforce this Letter Agreement and/or the Purchase Agreement and who understand they are not to disclose its contents to any other person
or entity without the prior written consent of Boeing. [*]. 

 

 

  
  

			
	P.A. 3075	 	page 2

 SA-3 

BOEING PROPRIETARY

 

 Aerovias del Continence Americano S.A. A VlANCA 
 6-1 I 62-DME-0905RI 

 

  

  
  
 

 
  

 Very truly yours, 
 THE BOIENG COMPANY 
  

			
	By	 	Alan W. Smith
	
	Its Attorney-in-Fact
	  
 ACCEPTED AND AGREED TO
this

  

			
	Date:	 	Sept. 26, 2012

  

			
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	BY:	 	  

		
	Its	 	  

 
 

			
	P.A. 3075	 	page 3

 SA-3 

BOEING PROPRIETARY

 

  
  

 Aerovias del Continence Americano S.A. A VlANCA 
 6-1 I 62-DME-0905RI 

 

  

  
  
 

 
  

 Attachment A 
 [*] 

			
	Escalation Cap =	  	[*]
	Base Date =	  	[*]

  

							
	 Date
	 	 Factor
	 	 Date
	 	 Factor

	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]
	[*]	 	[*]	 	[*]	 	[*]

 (Note: Validated on August 2, 2012) 
 Aerovias del Continence Americano S.A. A VlANCA 

 

 

  
  

			
	P.A. 3075	 	AVI

 SA-3

 

  

 [*] - Sample Calculation 

 

	 Customer - AV1 
	
|            A/P Contract Delivery     
   [*] 

  

			
	[*] Base Pnce Post	 	[*]
	Contract Changes	 	
		
	Adjusted Airframe Price	 	

 [*] 
 Per Letter Agreement 6-1161-DME-0905R1 the [*] adjustments determined by using the escalation cap factor set forth in the Attachment A 
 [*] 
  

																	
	Pa	  	=	  	[*]	  		  		  	P	  		  		  	
									
	Pa	  	=	  	[*]	  		  		  	[*]	  		  		  	
									
	Pa	  	=	  	[*]	  		  		  	[*]	  		  		  	
									
	Pa	  	=	  	[*]	  		  		  		  		  		  	

  

			
		  	
		
	Supplemental Exhibit AE1	  	

  

													
							
	Pa =	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
							
	ECI =	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
							
	ECI-R =	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
							
	CPI =	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
							
	Pa =	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
							
	Pa =	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
							
	Pa =	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
							
	Pa =	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
						
		  	[*]	  		  		  	Escalation Factor
 (Rounded [*] places
	  	[*]

 Aerovias del Continence Americano S.A. A VlANCA 
 Attachment B to 6-1162 DME-0905RI 

 

  
  

  

			
	P.A. 3075	  	Page 2

 SA-3

 

					
	 Summary
	  	 	  	 
	[*]	  	=	  	[*]
	[*]	  	=	  	[*]
	[*]	  	=	  	[*]
	[*]	  	=	  	[*]

 Average of [*] - the last available SIC indices reported by the BLS 

“Boxed indices are fictitious values for the purposes of this example and are for illustrative purposes only. The monthly indices will be replaced
with the BLS actual monthly ECI and CPI values for the [*] month prior to month of aircraft delivery, which in this example is [*] ECI and CPI are defined in Supplemental Exhibit AE1 to the Purchase Agreement. 

This example also applies to any applicable escalating credit memorandum. 

  

			
	P.A. 3075	  	Page 3
	SA-3	  	

 BOEING PROPRIETARY 

	
	  
 

  
  
  

 
  

 

  

					
		 	 The Boeing Company
 P.O.
Box 3707
 Seattle, WA 98124-2207
	 	

 6-1162-DME-0906R1 
 Aerovias del Continente Americano S.A. AVIANCA 
 Centro Administrativo 

Avenida El Dorado - No. 92-30 
 Bogota

 Colombia 
  

			
	Subject:	  	Customer Services Matters
		
	Reference:	  	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to Model 787-859
aircraft (the Aircraft)

 This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. All terms used
but not defined in this Letter Agreement have the same meaning as in the Purchase Agreement. 
 The various [*] elements of
Boeing Customer Support described below are provided as a financial accommodation in consideration of Buyer’s becoming the operator of the Aircraft, and cannot be assigned, in whole or in part, without the prior written consent of The Boeing
Company. 
 1. Block 1 Aircraft - Boeing/Alteon Maintenance & Flight Training 

Boeing’s standard Training Point allocation for the direct purchase of seven (7) 787-8 Aircraft is documented in Article 1.1 of the
Supplemental Exhibit CS-1 to this Purchase Agreement No. 3075 with the following language. 
 1.1 Customer is awarded [*]
points (Training Points). At any time before [*] months after delivery of Customer’s last Aircraft (Training Program Period) Customer may [*] may identify at specified point values. At the end of the Training Program Period any unused Training
Points will expire. 
  

			
	P.A. No. 3075	  	SA-2

 PROPRIETARY

 

  
  

			
	 Aerovias del Cantinerite American° S.A. AVIANCA
 6-1162--DME-0906RI
	 	Page 2

 
 

  

  
  

 

 1.2. In recognition of Customer’s additional training requirements, Boeing agrees to
[*]. 
 1.3 In the event Customer does go forward with the assignment of [*]Aircraft to Synergy Aerospace Inc., as described in
Letter Agreement No. 6-1162- DME-0904, entitled Special Matters, then Boeing will provide Synergy Aerospace [*]. 
 1.4 In
the event the assignment of the [*] Aircraft to Synergy Aerospace Inc., as described in Letter Agreement No. 6-1162-DME-0904, entitled Special Matters does not occur, then customer will receive a basic [*] Training Points in lieu of the basic
[*] Training Points described in paragraph 1.1 above, plus the additional [*] Special Training points described in paragraph 2 above, for a total entitlement of [*] points. 
 2. [*] Aircraft - Boeing/Alteon Maintenance & Flight Training Customer has taken the decision to exercise two (2) purchase right aircraft to become firmly contracted Aircraft.
Customer is awarded [*] Training Points with respect to the additionally contracted two (2) Aircraft. Also, in recognition of Customer’s specific request to support its additional training requirements, Boeing agrees to [*] Training Points
associated with these additional two (2) Aircraft. 
 3. Confidential Treatment 

Customer understands that certain commercial and financial information contained in this Letter Agreement is considered by Boeing as confidential.
Customer agrees that it will treat this Letter Agreement and the information contained herein as confidential and will not, without the prior written consent of Boeing, disclose this Letter Agreement or any information contained herein to any other
person or entity. [*] 

 

 

  
  

			
	P.A. 3075	 	SA-2

 PROPRIETARY

 

  
  

			
	 Aerovias del Cantinerite American° S.A. AVIANCA
 6-1162--DME-0906RI
	 	Page 3

 
 

  

  
  

 

			
	Very truly yours,
	THE BOIENG COMPANY
		
	By	 	 /s/ Dennis Egge

		
	Its	 	 Attorney-in-Fact

	
	ACCEPTED AND AGREED TO this
		
	Date:	 	21 November, 2007
	
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	BY:	 	  

		
	Its	 	 Attorney-in-Fact

	
	Attachment A

 
 

 

  
  

			
	P.A. No. 3075	 	SA-2

 PROPRIETARY

 

 Aerovias del Continente Americano° S.A. AVIANCA 

 

 Attachment A to 
 Letter Agreement No. 6-1162-DME-0906R1 
  

																					
	Customer:	  	 	Avianca	  	 				 				 				 			
						
	Total Firm	  	 	7	  	 				 				 				 			
						
	Aircraft:	  	 	[*]	  	 				 				 				 			
						
	 Points Allocated:

787 Training Courses
	  	Points
Class	 	 	Class
Requirement	 	 	Points
Expended	 	 	 Per
 Class
 Maximum
	 	 	 Total
 Students
Trained
	 
						
	 Flight
	  				 				 				 				 			
	 787 [*] Course
	  	 	[*	] 	 	 	[*	] 	 	 	[*	] 	 	 	[*	] 	 	 	[*	] 
						
	 Cabin Crew
	  				 				 				 				 			
	 787 [*]
	  	 	[*	] 	 	 	[*	] 	 	 	[*	] 	 	 	[*	] 	 	 	[*	] 
						
	 Maintenance
	  				 				 				 				 			
	 787 [*]
	  	 	[*	] 	 	 	[*	] 	 	 	[*	] 	 	 	[*	] 	 	 	[*	] 
	 787 [*]
	  	 	[*	] 	 	 	[*	] 	 	 	[*	] 	 	 	[*	] 	 	 	[*	] 
	 787 [*]
	  	 	[*	] 	 	 	[*	] 	 	 	[*	] 	 	 	[*	] 	 	 	[*	] 
	 787 [*]
	  	 	[*	] 	 	 	[*	] 	 	 	[*	] 	 	 	[*	] 	 	 	[*	] 
	 787 [*]
	  	 	[*	] 	 	 	[*	] 	 	 	[*	] 	 	 	[*	] 	 	 	[*	] 
	 787 [*]
	  	 	[*	] 	 	 	[*	] 	 	 	[*	] 	 	 	[*	] 	 	 	[*	] 
		  				 	  
	  
	 	 	  
	  
	 	 				 			
	 TOTAL POINTS
	  				 				 	 	[*	] 	 				 			
						
	 POINTS REMAINING
	  				 				 	 	[*	] 	 				 			

  

			
		  	 The Boeing Company 

P.O. Box 3707
 Seattle, WA 98124-2207

 
 

  

  
  

 
 

 
  

 6-1162-DME-0907 
 Aerovias del Continente Americano S.A. AVIANCA 
 Centro Administrativo 

Avenida El Dorado - No. 92-30 
 Bogota

 Colombia 
  

			
	Subject:	  	AGTA Matters
		
	Reference:	  	 Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A.
AVIANCA (Customer) relating to Model 787-859 aircraft (the Aircraft)
  

Aircraft General Terms Agreement Number AGTA-AVI (AGTA) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA
(Customer)

 This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. All terms used but not defined in
this Letter Agreement have the same meaning as in the Purchase Agreement. 
 Customer and Boeing have reached agreement regarding certain
modifications to the Agreement as set forth below: 
  

	1.	[*] 

 The terms and conditions described
in Article [*] of the AGTA-AVI, regarding [*] notwithstanding, Boeing will [*]. 
  

	2.	[*] 

 Notwithstanding anything to the
contrary in the Purchase Agreement No. 3075. as amended or supplemented by any letter agreement between Customer and Boeing or in the AGTA-AVI (collectively, the “Purchase Agreement Documents”),

 

 P.A. No. 3075 
 AGTA Matters 
 PROPRIETARY

 

  
  

 Aerovias del Cantinerite American° S.A. AVIANCA 

6-1162-DME-0907 Page 2 

 

  

  
  
 

 
  

 Customer shall [*] 
  

	3.	Exclusion of Consequential and Incidental Damages 

 NOTWITHSTANDING ANYTHING ELSE CONTAINED IN THE PURCHASE AGREEMENT DOCUMENTS OR OTHERWISE, CUSTOMER WILL HAVE NO OBLIGATION OR LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES ATTRIBUTABLE TO A DEFAULT
UNDER THE PURCHASE AGREEMENT DOCUMENTS, PROVIDED THAT NOTHING HEREIN WILL PRECLUDE BOEING FROM RECOVERING INTEREST OR APPLICABLE PENALTIES ON PAYMENTS NOT PAID WHEN DUE OR ANY NECESSARY COSTS THAT BOEING MAY INCUR AS A RESULT OF HAVING TO STORE,
MAINTAIN, TRANSPORT, OR REMARKET AN AIRCRAFT THAT CUSTOMER DOES NOT PURCHASE AS AGREED UNDER THE TERMS OF THIS AGREEMENT 
  

	4.	Confidential Treatment 

 Customer
understands that certain commercial and financial information contained in this Letter Agreement is considered by Boeing as confidential. Customer agrees that it will treat this Letter Agreement and the information contained herein as confidential
and will not, without the prior written consent of Boeing, disclose this 

 

 

  
  

 P.A. No. 3075 
 AGTA Matters 
 PROPRIETARY

 

  
  

 Aerovias del Cantinerite American° S.A. AVIANCA 

6-1162-DME-0907 Page 3 

 

  

  
  
 

 
  

 Letter Agreement or any information contained herein to any other person or entity. [*]. 

If the foregoing correctly sets forth your understanding of our agreement with respect to the matters treated above, please indicate your acceptance and
approval below. 
  

			
	Very truly yours,
	
	THE BOIENG COMPANY
		
	By	 	 /s/ Dennis Egge

		
	Its	 	 Attorney-in-Fact

	
	ACCEPTED AND AGREED TO this
		
	Date:	 	                    , 2006
	
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	BY:	 	  

		
	Its	 	  

 
 

 

  
  

 P.A. No. 3075 
 AGTA Matters 
 PROPRIETARY

 

  

  
  

 
 

 
  

					
		  	 The Boeing Company
 P.O.
Box 3707
 Seattle, WA 98124-2207
	  	

 APPENDIX I 
 6-1167-DME-1347 
 Aerovias del Continente Americano S.A. AVIANCA 

Centro Administrativo 
 Avenida El Dorado -
No. 92-30 
 Bogota 
 Colombia

  

			
	Subject:	  	Additional Special Matters— [*]
		
	Reference:	  	Purchase Agreement No. 3075 (the Purchase Agreement) between The Boeing Company (Boeing) and Aerovias del Continente Americano S.A. AVIANCA (Customer) relating to Model 787-859
aircraft (Aircraft)

 This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement. All terms used but not defined in
this Letter Agreement have the same meaning as in the Purchase Agreement. 
 1. [*] 

[*]. 
 [*]

 

 

  

			
	P.A. No. 3075	 	SA-3

 BOEING PROPRIETARY

 

  
  

			
	 Aerovias del Cantinerite American° S.A. AVIANCA
 6-1167-DME-1347
	 	Page 2

 
 

  

  
  
 

 
  

 2. Business Considerations 

 

	 	2.1	Credit Memoranda. 

 2.1.1
[*] Credit Memorandum. 
 With respect to each of the [*] Aircraft, Boeing will provide to Customer (a) an [*] credit memorandum ([*]
Credit Memorandum) and (b) a [*] credit memorandum ([*] Credit Memorandum), as applicable, in the following manner. 

2.1.1.1 Boeing will provide to Customer an [*] Credit Memorandum at the time the [*].

 

 

  
  

			
	P.A. No. 3075	 	SA-3

 BOEING PROPRIETARY

 

  
  

			
	 Aerovias del Cantinerite American° S.A. AVIANCA
 6-1167-DME-1347
	 	Page 3

 
 

  

  
  
 

 
  

 To illustrate, this will occur as follows; 
 [*] 
 2.1.1.2 Boeing will provide to Customer a [*] Credit Memorandum at the time
of each Aircraft delivery each in the amount of [*]. 

 

 

  
  

			
	P.A. No. 3075	 	SA-3

 BOEING PROPRIETARY

 

  
  

			
	 Aerovias del Cantinerite American° S.A. AVIANCA
 6-1167-DME-1347
	 	Page 4

 
 

  

  
  
 

 
  

 To illustrate, this will occur as follows: 

[*] 
  

	 	2.2	[*] Adjustment. 

 2.2.1
[*]. 
 2.2.2 [*]: 
 (a) [*] 

 

 

  
  

			
	P.A. No. 3075	 	SA-3

 BOEING PROPRIETARY

 

  
  

			
	 Aerovias del Cantinerite American° S.A. AVIANCA
 6-1167-DME-1347
	 	Page 5

 
 

  

  
  
 

 
  

 (b) [*] 
 (c) [*]. 
 2.2.3 [*]. 

2.2.3.1 [*] 

2.13.2 [*]

 

 

  
  

			
	P.A. No. 3075	 	SA-3

 BOEING PROPRIETARY

 

  
  

			
	 Aerovias del Cantinerite American° S.A. AVIANCA
 6-1167-DME-1347
	 	Page 6

 
 

  

  
  
 

 
  

 2.2.3.3 [*]. 
 2.2.3.4 [*] 
  

	 	(i)	[*] 

  

	 	(ii)	[*] 

  

	 	(iii)	[*] 

  

	 	(iv)	[*] 

 

 

  
  

			
	P.A. No. 3075	 	SA-3

 BOEING PROPRIETARY

 

  
  

			
	 Aerovias del Cantinerite American° S.A. AVIANCA
 6-1167-DME-1347
	 	Page 7

 
 

  

  
  
 

 
  

 2.3 [*]. 
 Boeing shall provide Customer with a [*] Credit Memorandum at the time of delivery of each [*] Aircraft each in [*]. 
 2.4 [*].  
 Boeing shall provide Customer with credit memoranda on or about [*].

 3. Escalation and Application of Credit Memoranda 
 The various credit memoranda described herein will be subject to escalation per the specific terms stated above for each credit memoranda, and will escalate per the terms and conditions of Supplemental
Exhibit AE1, Escalation Adjustment/Airframe and Optional Features, subject to the [*] terms and conditions described in letter agreement no. 6-1 162-DME-0905R1, [*]. 
 The credit memoranda to be provided under this Letter Agreement may be used by Customer for the purchase of Boeing goods and services or may be applied toward the purchase price of the Aircraft, but may
not be used for the payment of advance payments for any Aircraft, [*]. All such credit memoranda amounts are stated in July [*] United States Dollars and are subject to the same escalation as applicable to the net Aircraft Basic Price.

 

 

  
  

			
	P.A. No. 3075	 	SA-3

 BOEING PROPRIETARY

 

  
  

			
	 Aerovias del Cantinerite American° S.A. AVIANCA
 6-1167-DME-1347
	 	Page 8

 
 

  

  
  
 

 
  

 4. Assignment of Credit Memoranda 
 The Credit Memoranda described in this Letter Agreement are provided as a financial accommodation to Customer in consideration of Customer becoming the operator of the Aircraft, and cannot be assigned, in
whole or in part, without the prior written consent of The Boeing Company, which will not be unreasonably withheld. 
 5. Confidential
Treatment 
 Customer understands that certain commercial and financial information contained in this Letter Agreement is considered by
Boeing as confidential and, except as may otherwise be provided herein, will not, without the prior written consent of Boeing. disclose this Letter Agreement or any information contained herein to any other person or entity except to employees and
legal counsel of Customer with a need to know the contents for purposes of helping Customer negotiate, perform and/or enforce this Letter Agreement and/or the Purchase Agreement and who understand they are not to disclose its contents to any other
person or entity without the prior written consent of Boeing. [*]. 

 

 

  
  

			
	P.A. No. 3075	 	SA-3

 BOEING PROPRIETARY

 

  
  

			
	 Aerovias del Cantinerite American° S.A. AVIANCA
 6-1167-DME-1347
	 	Page 9

 
 

  

  
  
 

 
  

			
	Very truly yours,
	
	THE BOIENG COMPANY
		
	By	 	Alan W. Smith
	
	Its Attorney-in-Fact
	
	ACCEPTED AND AGREED TO this
		
	Date:	 	Sept. 26, 2012
	
	AEROVIAS DEL CONTINENTE AMERICANO S.A. AVIANCA
		
	BY:	 	  

		
	Its:	 	 Legal Rep

 
 

 

  
  

			
	P.A. No. 3075	 	SA-3

 BOEING PROPRIETARYSale and Servicing Agreement

 Exhibit 4.1 

EXECUTION COPY 
  

 
  

SALE AND SERVICING AGREEMENT 

among 
 WORLD OMNI AUTO
RECEIVABLES TRUST 2013-B 
 Issuing Entity, 

WORLD OMNI AUTO RECEIVABLES LLC, 

Depositor, 
 and 

WORLD OMNI FINANCIAL CORP., 

Servicer 
 Series 2013-B 

Dated as of October 30, 2013 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	    	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	1	  
	 Section 1.01
	    	 Definitions
	  	 	1	  
		
	 ARTICLE II CONVEYANCE OF RECEIVABLES
	  	 	1	  
	 Section 2.01
	    	 Conveyance of Initial Receivables
	  	 	1	  
	 Section 2.02
	    	 Intention of Parties
	  	 	2	  
	 Section 2.03
	    	 Conveyance of Subsequent Receivables
	  	 	3	  
		
	 ARTICLE III THE RECEIVABLES
	  	 	5	  
	 Section 3.01
	    	 Representations and Warranties of World Omni with Respect to the Receivables
	  	 	5	  
	 Section 3.02
	    	 Repurchase upon Breach
	  	 	9	  
	 Section 3.03
	    	 Custody of Receivable Files
	  	 	9	  
	 Section 3.04
	    	 Duties of Servicer as Custodian
	  	 	10	  
	 Section 3.05
	    	 Instructions; Authority To Act
	  	 	10	  
	 Section 3.06
	    	 Custodian’s Indemnification
	  	 	10	  
	 Section 3.07
	    	 Effective Period and Termination
	  	 	11	  
		
	 ARTICLE IV ADMINISTRATION AND SERVICING OF RECEIVABLES
	  	 	11	  
	 Section 4.01
	    	 Duties of Servicer
	  	 	11	  
	 Section 4.02
	    	 Collection and Allocation of Receivable Payments
	  	 	12	  
	 Section 4.03
	    	 Realization upon Receivables
	  	 	12	  
	 Section 4.04
	    	 Physical Damage Insurance
	  	 	12	  
	 Section 4.05
	    	 Maintenance of Security Interests in Financed Vehicles
	  	 	13	  
	 Section 4.06
	    	 Covenants of Servicer
	  	 	13	  
	 Section 4.07
	    	 Purchase of Receivables upon Breach
	  	 	13	  
	 Section 4.08
	    	 Servicing Fee
	  	 	13	  
	 Section 4.09
	    	 Servicer’s Certificate
	  	 	14	  
	 Section 4.10
	    	 Annual Statement as to Compliance; Item 1122 Servicing Criteria Assessment; Notice of Default
	  	 	14	  
	 Section 4.11
	    	 Annual Independent Certified Public Accountants’ Report
	  	 	15	  
	 Section 4.12
	    	 Access to Certain Documentation and Information Regarding Receivables
	  	 	15	  
	 Section 4.13
	    	 Servicer Expenses
	  	 	15	  
	 Section 4.14
	    	 Appointment of Subservicer
	  	 	15	  
	 Section 4.15
	    	 [Reserved]
	  	 	15	  
	 Section 4.16
	    	 Exchange Act Certifications
	  	 	16	  
		
	 ARTICLE V TRUST ACCOUNTS; DISTRIBUTIONS; STATEMENTS TO CERTIFICATEHOLDERS AND NOTEHOLDERS
	  	 	16	  
	 Section 5.01
	    	 Establishment of Trust Accounts
	  	 	16	  
	 Section 5.02
	    	 Collections
	  	 	20	  
	 Section 5.03
	    	 Application of Collections
	  	 	20	  

  
 i 

							
	 Section 5.04
	    	 Advances
	  	 	20	  
	 Section 5.05
	    	 Additional Deposits
	  	 	20	  
	 Section 5.06
	    	 Distributions
	  	 	20	  
	 Section 5.07
	    	 Reserve Account
	  	 	22	  
	 Section 5.08
	    	 Statements to Noteholders and Certificateholders
	  	 	23	  
	 Section 5.09
	    	 Net Deposits
	  	 	25	  
	 Section 5.10
	    	 Transfer of Certificates
	  	 	25	  
		
	 ARTICLE VI THE DEPOSITOR
	  	 	25	  
	 Section 6.01
	    	 Representations of Depositor
	  	 	25	  
	 Section 6.02
	    	 Limited Liability Company Existence
	  	 	27	  
	 Section 6.03
	    	 Liability of Depositor; Indemnities
	  	 	28	  
	 Section 6.04
	    	 Merger or Consolidation of, or Assumption of Obligations of Depositor
	  	 	29	  
	 Section 6.05
	    	 Limitation on Liability of Depositor and Others
	  	 	29	  
	 Section 6.06
	    	 Depositor May Own Notes
	  	 	30	  
	 Section 6.07
	    	 Security Interest
	  	 	30	  
		
	 ARTICLE VII THE SERVICER
	  	 	30	  
	 Section 7.01
	    	 Representations of Servicer
	  	 	30	  
	 Section 7.02
	    	 Indemnities of Servicer
	  	 	31	  
	 Section 7.03
	    	 Merger or Consolidation of, or Assumption of Obligations of, Servicer
	  	 	32	  
	 Section 7.04
	    	 Limitation on Liability of Servicer and Others
	  	 	33	  
	 Section 7.05
	    	 World Omni Not To Resign as Servicer
	  	 	33	  
		
	 ARTICLE VIII DEFAULT
	  	 	33	  
	 Section 8.01
	    	 Servicer Default
	  	 	33	  
	 Section 8.02
	    	 Appointment of Successor
	  	 	35	  
	 Section 8.03
	    	 Notification to Noteholders and Certificateholders
	  	 	35	  
	 Section 8.04
	    	 Waiver of Past Defaults
	  	 	36	  
	 Section 8.05
	    	 Payment of Servicing Fees; Repayment of Advances
	  	 	36	  
		
	 ARTICLE IX TERMINATION
	  	 	36	  
	 Section 9.01
	    	 Optional Purchase of All Receivables
	  	 	36	  
		
	 ARTICLE X MISCELLANEOUS
	  	 	37	  
	 Section 10.01
	    	 Amendment
	  	 	37	  
	 Section 10.02
	    	 Protection of Title to Trust
	  	 	38	  
	 Section 10.03
	    	 Notices
	  	 	40	  
	 Section 10.04
	    	 Assignment by the Depositor or the Servicer
	  	 	40	  
	 Section 10.05
	    	 Limitations on Rights of Others
	  	 	40	  
	 Section 10.06
	    	 Severability
	  	 	40	  
	 Section 10.07
	    	 Separate Counterparts
	  	 	41	  
	 Section 10.08
	    	 Headings
	  	 	41	  
	 Section 10.09
	    	 Governing Law
	  	 	41	  
	 Section 10.10
	    	 Assignment by Issuing Entity
	  	 	41	  

  
 ii 

							
	 Section 10.11
	    	 Nonpetition Covenants
	  	 	41	  
	 Section 10.12
	    	 Limitation of Liability of Owner Trustee and Indenture Trustee
	  	 	42	  
	 Section 10.13
	    	 Regulation AB
	  	 	42	  
	 Section 10.14
	    	 Notices to the Rating Agencies
	  	 	43	  

  

			
	SCHEDULE A	    	Schedule of Receivables
	SCHEDULE B	    	Location of Receivable Files
	EXHIBIT A	    	Form of Distribution Statement to Noteholders
	EXHIBIT B	    	Form of Servicer’s Certificate
	EXHIBIT C	    	Form of Initial SSA Assignment
	EXHIBIT D	    	Form of Subsequent Transfer SSA Assignment
	APPENDIX A	    	Definitions and Rules of Construction
	APPENDIX B	    	Additional Representations and Warranties

  
 iii 

 SALE AND SERVICING AGREEMENT 

This SALE AND SERVICING AGREEMENT is dated as of October 30, 2013, among WORLD OMNI AUTO RECEIVABLES TRUST 2013-B, a Delaware statutory
trust (the “Issuing Entity”), WORLD OMNI AUTO RECEIVABLES LLC, a Delaware limited liability company (the “Depositor”), as depositor, and WORLD OMNI FINANCIAL CORP., a Florida corporation (“World
Omni” or the “Servicer”). 
 WHEREAS, World Omni has sold the Initial Receivables, and has agreed to sell
Subsequent Receivables, if any, to the Depositor pursuant to the Receivables Purchase Agreement; 
 WHEREAS, World Omni Auto Receivables
LLC, as depositor, desires to sell the Initial Receivables and Subsequent Receivables, if any, to the Issuing Entity and the Issuing Entity desires to purchase such receivables; and 

WHEREAS, the Servicer is willing to service, to make representations and warranties and to make certain repurchase representations with
respect to such Receivables; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties
hereto agree as follows: 
 ARTICLE I 

DEFINITIONS 

Section 1.01 Definitions. Certain capitalized terms used in the above recitals and in this Agreement are defined in and shall have
the respective meanings assigned them in Part I of Appendix A to this Agreement. All references herein to “the Agreement” or “this Agreement” are to this Sale and Servicing Agreement as it may be
amended, supplemented (whether by Subsequent Transfer SSA Assignment, if any, or otherwise) or modified from time to time, the exhibits hereto and the capitalized terms used herein which are defined in such Appendix A, and all references
herein to Articles, Sections and subsections are to Articles, Sections or subsections of this Agreement unless otherwise specified. The rules of construction set forth in Part II of such Appendix A shall be applicable to this
Agreement. 
 ARTICLE II 

CONVEYANCE OF RECEIVABLES 

Section 2.01 Conveyance of Initial Receivables. In consideration of the Issuing Entity’s delivery to or upon the order of the
Depositor of the Notes and the Certificates, on the Closing Date the Depositor does hereby sell, transfer, assign, set over and otherwise convey to the Issuing Entity, without recourse (subject to the obligations of the Depositor set forth herein),
pursuant to an assignment in the form attached hereto as Exhibit C (the “Initial SSA Assignment”) all right, title and interest of the Depositor, whether now or hereafter acquired, and wherever located, in and to the
following: 
 (a) the Initial Receivables identified in the Schedule of Receivables to the Initial SSA Assignment delivered to the Issuing
Entity (all of which are identified in World Omni’s computer files by a code indicating the Initial Receivables are owned by the Trust and pledged to the Indenture Trustee) and all monies received thereon and in respect thereof after the
Initial Cutoff Date; 

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

(d) any Financed Vehicle that shall have secured an Initial Receivable and shall have been acquired by or on behalf of the Depositor, the
Servicer or the Trust; 
 (e) all funds on deposit in, and “financial assets” (as such term is defined in the Uniform Commercial
Code as from time to time in effect) credited to, the Trust Accounts, including the Reserve Account, the Negative Carry Account, if any, and the Pre-Funding Account, if any, from time to time, including the Reserve Account Initial Deposit, any
Reserve Account Subsequent Transfer Deposit, the Negative Carry Account Initial Deposit, if any, and the Pre-Funding Account Initial Deposit, if any, and in all investments and proceeds thereof (including all income thereon); 

(f) the Receivables Purchase Agreement; 

(g) all “accounts,” “chattel paper,” “general intangibles” and “promissory notes” (as such terms are
defined in the Uniform Commercial Code as from time to time in effect) constituting or relating to the foregoing; and 
 (h) the proceeds of
any and all of the foregoing (including Liquidation Proceeds); provided, however, that the foregoing items (a) through (h) shall not include the Notes and Certificates. 

Section 2.02 Intention of Parties. It is the intention of the Depositor and the Issuing Entity that the assignment and transfer
contemplated herein constitute (and shall be construed and treated for all purposes, other than for tax purposes, as) a true and complete sale of the Initial Receivables and the other property of the Depositor specified in Section 2.01
hereof, conveying good title thereto free and clear of any liens and encumbrances, from the Depositor to the Issuing Entity. However, in the event that such conveyance is deemed to be a pledge to secure a loan (in spite of the express intent of the
parties hereto that this conveyance constitutes, and shall be construed and treated for all purposes, other than for tax purposes, as a true and complete sale), the Depositor hereby grants to the Issuing Entity, for the benefit of the Noteholders, a
first priority perfected security interest in all of the Depositor’s right, title and interest in, to and under the Initial Receivables and the other property of the Depositor specified in Section 2.01 hereof whether now existing or
hereafter created and all proceeds of the foregoing to secure the loan deemed to be made in connection with such pledge and, in such event, this Agreement shall constitute a security agreement under applicable law. 

  
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 Section 2.03 Conveyance of Subsequent Receivables. 

(a) If there is a Funding Period, subject to satisfaction of the conditions set forth in Section 2.03(b) below, in consideration
of the Issuing Entity’s delivery on the related Subsequent Transfer Date, if any, to or upon the order of the Depositor of the amount described in Section 5.01(d) to be delivered to the Depositor and the increase in the value of the
Certificates as a result of such sale, the Depositor does hereby agree to sell, transfer, assign, set over and otherwise convey to the Issuing Entity, without recourse (except as provided in Section 3.02), pursuant to an assignment in
substantially the form of Exhibit D (a “Subsequent Transfer SSA Assignment”), all right, title and interest of the Depositor in, to and under: 
  

	 	(i)	the Subsequent Receivables identified in the Subsequent Transfer SSA Assignment (all of which are identified in World Omni’s computer files by a code indicating such Subsequent Receivables are owned by the Trust
and pledged to the Indenture Trustee) and all monies received thereon and in respect thereof after the related Subsequent Cutoff Date; 

  

	 	(ii)	the security interests in, and the liens on, the Financed Vehicles granted by Obligors in connection with the Subsequent Receivables and any other interest of the Depositor in the Financed Vehicles; 

 

	 	(iii)	any proceeds with respect to the Subsequent Receivables from claims on any physical damage, credit life or disability insurance policies covering the Financed Vehicles or Obligors; 

 

	 	(iv)	any Financed Vehicle that shall have secured a Subsequent Receivable and shall have been acquired by or on behalf of the Depositor, the Servicer or the Trust; 

 

	 	(v)	all “accounts,” “chattel paper,” “general intangibles” and “promissory notes” (as such terms are defined in the Uniform Commercial Code as from time to time in effect)
constituting or relating to the foregoing; and 

  

	 	(vi)	the proceeds of any and all of the foregoing (including Liquidation Proceeds); provided, however, that the foregoing items (i) through (vi) shall not include the Notes and
Certificates. 

 It is the intention of the Depositor and the Issuing Entity that the assignment and transfer contemplated by this
Section 2.03 constitute (and shall be construed and treated for all purposes, other than for tax purposes, as) a true and complete sale of such Subsequent Receivables, if any, and the other property of the Depositor specified in
Section 2.03(a) hereof, conveying good title thereto free and clear of any liens and encumbrances, from the Depositor to the Issuing Entity. However, in the event that such conveyance is deemed to be a pledge to secure a loan (in spite
of the express intent of the parties hereto that this conveyance constitutes, and shall be construed and treated for all purposes, other than for tax purposes, as a true and complete sale), the 

  
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Depositor hereby grants to the Issuing Entity, for the benefit of the Noteholders, a first priority perfected security interest in all of the Depositor’s right, title and interest in, to and
under the Subsequent Receivables, if any, and the other property of the Depositor specified in Section 2.03(a) hereof whether now existing or hereafter created and all proceeds of the foregoing to secure the loan deemed to be made in
connection with such pledge and, in such event, this Agreement shall constitute a security agreement under applicable law. 
 (b) If there
is a Funding Period, the Depositor shall transfer to the Issuing Entity Subsequent Receivables and the other property and rights related thereto described in Section 2.03(a) above only upon the satisfaction of each of the following
conditions precedent on or prior to the related Subsequent Transfer Date: 
  

	 	(i)	the Funding Period shall not have terminated; 

  

	 	(ii)	each of the representations and warranties made by the Depositor pursuant to Section 3.01 with respect to such Subsequent Receivables shall be true and correct as of the related Subsequent Transfer Date with
the same effect as if then made, and the Depositor shall have performed all obligations to be performed by it hereunder on or prior to such Subsequent Transfer Date; 

 

	 	(iii)	the Depositor shall have delivered to the Owner Trustee and the Indenture Trustee a duly executed Subsequent Transfer SSA Assignment, including the Schedule of Receivables (which schedule shall be deemed to supplement
the existing Schedule of Receivables in effect at such time); 

  

	 	(iv)	the applicable Reserve Account Subsequent Transfer Deposit for such Subsequent Transfer Date shall have been deposited in the Reserve Account pursuant to Section 5.01(d); 

 

	 	(v)	the Depositor shall, at its own expense, on or prior to each Subsequent Transfer Date, indicate in its computer files that the Subsequent Receivables conveyed on such date have been sold to the Issuing Entity pursuant
to this Agreement and the related Subsequent Transfer SSA Assignment; 

  

	 	(vi)	the Depositor shall have taken any action required to maintain the first priority perfected ownership interest of the Issuing Entity in the Owner Trust Estate and the first priority perfected security interest of the
Indenture Trustee in the Collateral; 

  

	 	(vii)	 the Receivables in the Trust (after giving effect to the conveyance of the Subsequent Receivables to the Trust on such Subsequent Transfer Date) shall
meet the following criteria: (A) the weighted average Annual Percentage Rate of the Receivables in the Trust shall not be less than [RESERVED]%, (B) not less than [RESERVED]% of the Aggregate Starting Principal Balance of the Receivables
shall represent financings of new Financed Vehicles, (C) no Subsequent Receivable shall have a 

  
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remaining term in excess of [RESERVED] months, (D) the weighted average original term to maturity of the Receivables in the Trust shall not be greater than [RESERVED] months, (E) not
less than [RESERVED]% of Aggregate Starting Principal Balance of the Receivables shall represent financings of Toyota vehicles, (F) the weighted average FICO score of the Receivables in the Trust shall not be less than [RESERVED] and
(G) such other criteria as may be required by the Rating Agencies; 

  

	 	(viii)	the Depositor shall have delivered to the Indenture Trustee and the Owner Trustee an Officers’ Certificate confirming the satisfaction of the conditions specified in this Section 2.03(b); and

  

	 	(ix)	the Depositor shall have delivered to the Trust, the Indenture Trustee and the Rating Agencies an Opinion of Counsel with respect to the transfer of such Subsequent Receivables substantially in the form of the Opinion
of Counsel delivered to the Rating Agencies on the Closing Date. 

 (c) If there is a Funding Period, the Depositor covenants
to transfer to the Issuing Entity pursuant to Section 2.03(a) before the termination of the Funding Period Subsequent Receivables with an aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount for
such Subsequent Receivables as of the related Subsequent Cutoff Date equal to approximately the result of the Pre-Funding Account Initial Deposit divided by [RESERVED]% to the extent such Receivables were transferred to the Depositor under the
Receivables Purchase Agreement. 
 ARTICLE III 

THE RECEIVABLES 

Section 3.01 Representations and Warranties of World Omni with Respect to the Receivables. On the Closing Date and each Subsequent
Transfer Date, if any, World Omni, which sold the Receivables specified in the related SSA Assignment on such date, hereby makes the representations and warranties set forth in Appendix B hereto and hereby represents and warrants to the other
parties hereto and to the Noteholders, with respect to such Receivables as of the applicable Cutoff Date: 
 (a) Characteristics of
Receivables. Each Receivable (1) (A) was originated in the United States of America by a Dealer for the retail sale of a Financed Vehicle in the ordinary course of such Dealer’s business, was fully and properly executed by the
parties thereto, was purchased by World Omni from such Dealer under an existing dealer agreement, (B) was originated by World Omni, or (C) was originated by an independent third party and acquired by World Omni, (2) contains customary
and enforceable provisions such that the rights and remedies of the holder thereof are adequate for realization against the collateral of the benefits of the security, and (3) provides for level monthly payments (provided, that the
payment in the first or last month in the life of the Receivable may be minimally different from the level payments and that certain of the Receivables did not require a payment to be made for up to six months from the date of execution of the
contract) that fully amortize the Amount Financed by maturity and yield interest at the Annual Percentage Rate. 

  
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 (b) Schedule of Receivables. The information set forth in the Schedule of Receivables is
true and correct in all material respects as of the close of business on the applicable Cutoff Date, and no selection procedures believed by World Omni to be adverse to the Noteholders were utilized in selecting the Receivables. The computer tape or
other listing regarding the Receivables made available to the Issuing Entity and its assigns (which computer tape or other listing is required to be delivered as specified herein) is true and correct in all material respects. 

(c) Compliance with Law. To the best of World Omni’s knowledge, each Receivable, the sale of the Financed Vehicle and the sale of
any related insurance policies thereon financed by the Receivables complied at the time it was originated or made and, at the execution of this Agreement, complies in all material respects with all requirements of applicable federal, state and local
laws and regulations thereunder, including usury laws, the federal Truth-in-Lending Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Federal Trade Commission Act, the Magnuson-Moss
Warranty Act, the Consumer Financial Protection Bureau’s Regulations B and Z, and State adaptations of the National Consumer Act and of the Uniform Consumer Credit Code, and other consumer credit laws and equal credit opportunity and disclosure
laws. 
 (d) Binding Obligation. Each Receivable represents the genuine, legal, valid and binding payment obligation in writing of
the Obligor, enforceable by the holder thereof in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws, now or hereafter in effect, affecting
the enforcement of creditors’ rights in general, and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity). 

(e) No Government Obligor. None of the Receivables are due from the United States of America or any State or from any agency,
department or instrumentality of the United States of America or any State. 
 (f) Security Interest in Financed Vehicle. Immediately
prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority security interest in the related Financed Vehicle in favor of World Omni as secured party or all necessary and appropriate
actions have been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of the Depositor as secured party and is assignable by World Omni to the Depositor, by the Depositor to the
Issuing Entity and by the Issuing Entity to the Indenture Trustee. 
 (g) Receivables in Force. No Receivable has been satisfied,
subordinated or rescinded, nor has any Financed Vehicle been released from the lien granted by the related Receivable in whole or in part. 

(h) No Amendments. No Receivable has been amended such that the amount of the Obligor’s scheduled payments has been increased.

  
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 (i) No Waiver. No provision of a Receivable has been waived, other than a discretionary
waiver of a late payment charge or any other fees that may be collected in the ordinary course of servicing a Receivable or in connection with any extension which is reflected in the Servicer’s computer system. 

(j) No Defenses. No right of rescission, setoff, counterclaim or defense has been asserted or, to World Omni’s knowledge,
threatened with respect to any Receivable. 
 (k) No Liens. To the best of World Omni’s knowledge, no liens or claims have been
filed for work, labor or materials relating to a Financed Vehicle that are liens prior to, or equal to or coordinate with, the security interest in the Financed Vehicle granted by any Receivable. 

(l) No Default. No Receivable has a payment for which $40 or more is more than 30 days overdue as of the applicable Cutoff Date, and,
except as permitted in this paragraph, to the best of World Omni’s knowledge, no default, breach, violation or event permitting acceleration under the terms of any Receivable has occurred and no continuing condition that with notice or the
lapse of time would constitute a default, breach, violation or event permitting acceleration under the terms of any Receivable has arisen; and World Omni has not waived and, except as permitted hereby, shall not waive any of the foregoing. 

(m) Insurance. World Omni, in accordance with its customary servicing procedures, has determined that, at the origination of the
Receivable, the Obligor had obtained physical damage insurance covering the Financed Vehicle. Under the terms of the Receivable the Obligor is required to maintain physical damage insurance covering the Financed Vehicle and have World Omni named as
the loss payee. 
 (n) Title. It is the intention of World Omni that the transfer and assignment contemplated in the Receivables
Purchase Agreement constitute a sale of the Receivables from World Omni to World Omni Auto Receivables LLC and that the beneficial interest in and title to the Receivables not be part of the debtor’s estate in the event of the filing of a
bankruptcy petition by or against World Omni under any bankruptcy law. No Receivable has been sold, transferred, assigned or pledged by World Omni to any Person other than the Depositor. Immediately prior to the transfer and assignment contemplated
in the Receivables Purchase Agreement, World Omni had good and marketable title to each Receivable free and clear of all Liens, encumbrances, security interests and rights of others and, immediately upon the transfer thereof, the Depositor shall
have good and marketable title to each Receivable, free and clear of all Liens, encumbrances, security interests and rights of others; and the transfer has been perfected under the UCC except, in each case, for liens and encumbrances that will be
released concurrent with the transfer of Receivables pursuant to the Receivables Purchase Agreement. It is the intention of the Depositor that the transfer and assignment herein contemplated constitute a sale of the Receivables from the Depositor to
the Issuing Entity and that the beneficial interest in and title to the Receivables not be part of the debtor’s estate in the event of the filing of a bankruptcy petition by or against the Depositor under any bankruptcy law. No Receivable has
been sold, transferred, assigned or pledged by the Depositor to any Person other than the Issuing Entity. Immediately prior to the transfer and assignment herein contemplated, the Depositor had good and marketable title to each Receivable free and
clear of all Liens, encumbrances, security 

  
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interests and rights of others and, immediately upon the transfer thereof, the Issuing Entity shall have good and marketable title to each Receivable, free and clear of all Liens, encumbrances,
security interests and rights of others; and the transfer has been perfected under the UCC. 
 (o) Lawful Assignment. No Receivable
has been originated in, or is subject to the laws of, any jurisdiction under which the sale, transfer and assignment of such Receivable under this Agreement or the Indenture is unlawful, void or voidable. 

(p) All Filings Made. All filings (including UCC filings) necessary in any jurisdiction to give the Issuing Entity a first perfected
ownership interest in the Receivables, and to give the Indenture Trustee a first perfected security interest therein, shall have been made. 

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

(r) Maturity of Receivables. In the case of Initial Receivables, each such Receivable has a final maturity date not later than
January 29, 2020. In the case of Subsequent Receivables, if any, each such Receivable has a final maturity date not later than [RESERVED]. 

(s) Scheduled Payments. As of the Initial Cutoff Date, each Receivable being purchased on the Closing Date had a first scheduled due
date on or prior to the end of the third month immediately following such Initial Cutoff Date. As of the applicable Subsequent Cutoff Date, if any, each Subsequent Receivable being purchased during the Funding Period had or will have a first
scheduled due date on or prior to the end of the third month immediately following the applicable Subsequent Cutoff Date. 
 (t) Location
of Receivable Files. The Receivable Files are, and will be, kept at the locations listed in Schedule B or at such other office or location as shall be specified to the Issuing Entity and the Indenture Trustee by written notice prior to
any change in location together with the Opinion of Counsel required by Section 10.02(j). 
 (u) Outstanding Principal
Balance. Each Receivable has an outstanding principal balance of at least $500. 
 (v) No Bankruptcies. No Obligor on any
Receivable was noted in the Servicer’s computer system as having filed for bankruptcy. 
 (w) No Repossessions. No Receivable
was secured by a Financed Vehicle that had been repossessed without reinstatement of the related contract. 
 (x) Chattel Paper. Each
Receivable constitutes “tangible chattel paper” as defined in the UCC. 
 (y) Computer Records. World Omni and the
Depositor will cause their accounting and computer records to be marked to indicate the sale and assignment of the Receivables from World Omni to the Depositor and from the Depositor to the Trust. 

  
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 (z) Code. Each of the Receivables is identified on World Omni’s computer files by a
code indicating the Receivables are owned by the Trust and pledged to the Indenture Trustee. The Receivables are the only Contracts listed on the Schedule of Receivables, are the only Contracts identified on World Omni’s computer files by such
code, and are not identified on World Omni’s computer files by any other code. 
 (aa) Prepayment. Each Receivable provides that
a prepayment by the related Obligor will fully pay the principal balance and accrued interest through the date of prepayment based on such Receivable’s Annual Percentage Rate. 

Section 3.02 Repurchase upon Breach. The Depositor, the Servicer or the Owner Trustee (on behalf of the Trust), as the case may
be, shall inform the other parties to this Agreement and the Indenture Trustee promptly, in writing, upon the discovery of any breach of World Omni’s representations and warranties made pursuant to Section 3.01. Unless any such
breach shall have been cured by the last day of the second Collection Period following the discovery thereof by the Owner Trustee or receipt by the Owner Trustee of written notice from the Depositor or the Servicer of such breach, World Omni shall
be obligated to repurchase any Receivable materially and adversely affected by any such breach as of such last day (or, at World Omni’s option, the last day of the first Collection Period following the discovery) and World Omni shall deliver a
revised Schedule of Receivables to the Depositor and the Trust which shall reflect the repurchase of such Receivables). In consideration of the repurchase of any such Receivable, World Omni shall remit the Purchase Amount, in the manner specified in
Section 5.05. Subject to the provisions of Section 6.03, the sole remedy of the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Noteholders or the Certificateholders with respect to a breach of representations
and warranties pursuant to Section 3.01 and the agreement contained in this Section shall be to require World Omni to repurchase Receivables pursuant to this Section, subject to the conditions contained herein. 

Section 3.03 Custody of Receivable Files. To assure uniform quality in servicing the Receivables and to reduce administrative
costs, the Issuing Entity hereby revocably appoints the Servicer, and the Servicer hereby accepts such appointment, to act for the benefit of the Issuing Entity and the Indenture Trustee as custodian of the following documents or instruments which
are hereby or will hereby be constructively delivered to the Indenture Trustee, as pledgee of the Issuing Entity, as of the Closing Date with respect to each Initial Receivable and as of the Subsequent Transfer Date with respect to each Subsequent
Receivable, if any: 
 (a) the fully executed original Contract of such Receivable; 

(b) the credit application fully executed by the Obligor or such other information as the Servicer may keep on file in accordance with its
customary servicing procedures; 
 (c) the original certificate of title or such documents that the Servicer or the Depositor shall keep on
file, in accordance with its customary procedures, evidencing the security interest of World Omni in the Financed Vehicle; and 
 (d) any
and all other documents that the Servicer or the Depositor shall keep on file, in accordance with its customary procedures, relating to a Receivable, an Obligor or a Financed Vehicle. 

  
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 Section 3.04 Duties of Servicer as Custodian. 

(a) Safekeeping. The Servicer shall hold the Receivable Files as custodian for the benefit of the Issuing Entity and maintain such
accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuing Entity to comply with this Agreement. In performing its duties as custodian the Servicer shall act with reasonable care,
using that degree of skill and attention that the Servicer exercises with respect to the receivable files relating to all comparable automotive receivables that the Servicer services for itself. The Servicer shall promptly report to the Issuing
Entity and the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and shall promptly take appropriate action to remedy any such failure. Nothing herein
shall be deemed to require an initial review or any periodic review by the Issuing Entity or the Indenture Trustee of the Receivable Files. 

(b) Maintenance of and Access to Records. The Servicer shall maintain each Receivable File at one of its offices, or at such other
location, in each case as specified in Schedule B or at such other office or location as shall be specified to the Issuing Entity and the Indenture Trustee by written notice prior to any change in location together with the Opinion of Counsel
required by Section 10.02(j). 
 The Servicer shall provide to the Indenture Trustee access to any and all documentation
regarding the Receivables in such cases where the Indenture Trustee is required in connection with the enforcement of the rights of the Noteholders, or by applicable statutes or regulations to review such documentation, such access being afforded
without charge but only (a) upon reasonable request, (b) during normal business hours, (c) subject to the Servicer’s normal security and confidentiality procedures and (d) at offices designated by the Servicer. Nothing in
this Section 3.04(b) shall derogate from the obligation of the Servicer or the Indenture Trustee to observe any applicable law prohibiting disclosure of information regarding the Obligors and the failure of the Servicer to provide access
as provided in this Section 3.04(b) as a result of such obligation shall not constitute a breach of this Section 3.04(b). 

(c) Release of Documents. Upon instruction from the Indenture Trustee, the Servicer shall release any Receivable File to the Indenture
Trustee, the Indenture Trustee’s agent or the Indenture Trustee’s designee, as the case may be, at such place or places as the Indenture Trustee may designate, as soon as practicable. 

Section 3.05 Instructions; Authority To Act. The Servicer shall be deemed to have received proper instructions with respect to the
Receivable Files upon its receipt of written instructions signed by a Trust Officer of the Indenture Trustee. 
 Section 3.06
Custodian’s Indemnification. The Servicer as custodian shall indemnify the Trust, the Owner Trustee, and the Indenture Trustee and each of their respective officers, directors, employees and agents for any and all liabilities,
obligations, losses, compensatory 

  
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damages, payments, costs or expenses of any kind whatsoever that may be imposed on, incurred by or asserted against the Trust, the Owner Trustee, or the Indenture Trustee or any of their
respective officers, directors, employees and agents as the result of any improper act or omission in any way relating to the maintenance and custody by the Servicer as custodian of the Receivable Files; provided, however, that the
Servicer shall not be liable to the Owner Trustee for any portion of any such amount resulting from the willful misfeasance, bad faith or negligence of the Owner Trustee, and the Servicer shall not be liable to the Indenture Trustee for any portion
of any such amount resulting from the willful misfeasance, bad faith or negligence of the Indenture Trustee. 
 Section 3.07
Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Initial Cutoff Date and shall continue in full force and effect until terminated pursuant to this Section. If World Omni shall
resign as Servicer in accordance with the provisions of this Agreement or if all of the rights and obligations of any Servicer shall have been terminated under Section 8.01, the appointment of such Servicer as custodian may be terminated
by the Indenture Trustee or by the Holders of the Controlling Securities evidencing not less than 25% of the Outstanding Amount of the Controlling Securities or, with the consent of Holders of the Controlling Securities evidencing not less than 25%
of the Outstanding Amount of the Controlling Securities, by the Owner Trustee, in the same manner as the Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under Section 8.01. As soon as
practicable after any termination of such appointment, the Servicer shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s agent at such place or places as the Indenture Trustee may reasonably designate. 

ARTICLE IV 

ADMINISTRATION AND SERVICING OF RECEIVABLES 

Section 4.01 Duties of Servicer. The Servicer, for the benefit of the Issuing Entity (to the extent provided herein), shall
manage, service, administer and receive collections on the Receivables (other than Purchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to all comparable automotive
receivables that it services for itself or others. The Servicer’s duties shall include collection and posting of all payments, making Advances, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending
invoices to Obligors, reporting tax information to Obligors, accounting for collections, paying the fee of the Administrator out of its own funds pursuant to Section 1.03 of the Administration Agreement and furnishing a Servicer’s
Certificate to the Indenture Trustee. Subject to the provisions of Section 4.02, the Servicer shall follow its customary standards, policies and procedures in performing its duties as Servicer. Without limiting the generality of the
foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Certificateholders and the Noteholders or any of them, any and all instruments of
satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to
enforce a Receivable, the Issuing Entity (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any
enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a 

  
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Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s expense and direction, take
steps to enforce such Receivable, including bringing suit in its name or the name of the Owner Trustee, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee shall upon the written request of the Servicer furnish the
Servicer with any powers of attorney and other documents, in forms provided to it, reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. 

Section 4.02 Collection and Allocation of Receivable Payments. The Servicer shall make reasonable efforts to collect all payments
called for under the terms and provisions of the Receivables as and when the same shall become due and shall follow such collection procedures as it follows with respect to all comparable automotive receivables that it services for itself or others.
The Servicer shall allocate collections as set forth in Section 5.03. The Servicer may grant extensions (although not more than six for the life of any Receivable (excluding the Servicer’s Payment Extension Program)), rebates or
adjustments on a Receivable, which shall not, for the purposes of this Agreement, modify the day of the month on which payment is due (except in connection with a limited number of accommodations for Obligors of occasional requests in accordance
with the Servicer’s customary servicing procedures) or change the method under which scheduled payments of interest are computed on such Receivable (other than with respect to the Servicer’s Payment Extension Program); provided,
however, that if the Servicer extends the date for final payment by the Obligor of any Receivable beyond the Final Scheduled Maturity Date, it shall promptly repurchase the Receivable from the Issuing Entity in accordance with the terms of
Section 4.07. The Servicer shall not retain any fees in connection with any extension of a Receivable but shall instead deposit such fees into the Collection Account within two Business Days of receipt (including receipt of proper
instructions regarding where to allocate such payment). The Servicer may in its discretion waive any late payment charge or any other fees that may be collected in the ordinary course of servicing a Receivable. The Servicer shall not agree to any
alteration of the interest rate or the originally scheduled payments on any Receivable, other than as provided herein or as required by law. 

Section 4.03 Realization upon Receivables. On behalf of the Issuing Entity, the Servicer shall use commercially reasonable
efforts, consistent with its customary servicing procedures, to repossess or otherwise convert the ownership of the Financed Vehicle securing any Receivable as to which the Servicer shall have determined eventual payment in full is unlikely. The
Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing of automotive receivables, which may include selling the Financed Vehicle at public or private sale. The Servicer is
hereby authorized to exercise its discretion, consistent with its customary servicing procedures and the terms of this Agreement, in servicing Defaulted Receivables so as to maximize the realization of those Defaulted Receivables, including the
discretion to choose to sell or not to sell any of the Defaulted Receivables. The Servicer shall not be liable for any such exercise of its discretion made in good faith. 

Section 4.04 Physical Damage Insurance. To the extent applicable, the Servicer shall not take any action that would result in
noncoverage under such physical damage insurance policy which, but for the actions of the Servicer, would have been covered thereunder. Any amounts collected by the Servicer under any physical damage insurance policy shall be deposited in the
Collection Account pursuant to Section 5.02. The parties hereto acknowledge that the Servicer shall not force place any insurance coverage. 

  
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 Section 4.05 Maintenance of Security Interests in Financed Vehicles. The Servicer
shall, in accordance with its customary servicing procedures, take such steps as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle. The Servicer is hereby authorized to take such
steps as are necessary to re-perfect such security interest on behalf of the Issuing Entity and the Indenture Trustee in the event of the relocation of a Financed Vehicle or for any other reason. 

Section 4.06 Covenants of Servicer. The Servicer shall not release the Financed Vehicle securing any Receivable from the security
interest granted by such Receivable in whole or in part except in the event of (i) payment by the Obligor (a) in full or (b) in part with a remaining total payment shortage amount which, according to the Servicer’s customary
procedures, does not exceed the amount of total payment shortage that would permit the Servicer to release the related Financed Vehicle from the security interest or (ii) repossession, nor shall the Servicer impair the rights of the Issuing
Entity, the Indenture Trustee, the Certificateholders or the Noteholders in such Receivable. 
 Section 4.07 Purchase of Receivables
upon Breach. The Servicer or the Owner Trustee, on behalf of the Trust, shall inform the other party and the Indenture Trustee and the Depositor promptly, in writing, upon the discovery of any breach pursuant to Section 4.02,
4.05, 4.06 or 7.01. Unless the breach shall have been cured by the last day of the second Collection Period following such discovery or written notice (or, at the Servicer’s election, the last day of the first following
Collection Period), the Servicer shall purchase any Receivable materially and adversely affected by such breach as of such last day and the Servicer shall deliver a revised Schedule of Receivables to the Depositor and the Trust, which shall reflect
the repurchase of such Receivables. In consideration of the purchase of any such Receivable pursuant to the preceding sentence, the Servicer shall remit the Purchase Amount in the manner specified in Section 5.05. Subject to
Section 7.02, the sole remedy of the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Certificateholders or the Noteholders with respect to a breach pursuant to Section 4.02, 4.05, 4.06 or
7.01 shall be to require the Servicer to purchase Receivables pursuant to this Section. The Owner Trustee shall have no duty to conduct any affirmative investigation as to the occurrence of any condition requiring the repurchase of any
Receivable pursuant to this Section. 
 Section 4.08 Servicing Fee. The Servicing Fee for a Payment Date shall equal the product
of (a) one-twelfth, (b) the Servicing Fee Rate and (c) the aggregate Principal Balance of the Receivables as of the first day of the related Collection Period; provided, however, that the Servicing Fee on the
initial Payment Date shall be prorated to compensate for the length of the initial Collection Period not equaling one month and will be equal to $1,055,322.66. The Servicer shall also be entitled to all reimbursements for Advances as set forth in
Section 5.04, Supplemental Servicing Fees collected (from whatever source) on the Receivables, the amount of any Servicing Fee due but not distributed to the Servicer on a prior Payment Date (including any amounts previously deferred by
the Servicer as provided in this Section 4.08) plus any reimbursement pursuant to the last paragraph of Section 7.02. The Servicer may, as long as it believes that sufficient collections will be available from interest
collections on one or more 

  
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future Payment Dates to pay the Servicing Fee, by notice to the Indenture Trustee on or before a Payment Date, elect to defer all or a portion of the Servicing Fee with respect to the related
Collection Period, without interest. If the Servicer defers all of the Servicing Fee, the Servicing Fee for such related Collection Period will be deemed to equal zero. 

Section 4.09 Servicer’s Certificate. On or prior to 11:00 a.m. New York City time on each Payment Determination Date, the
Servicer shall deliver a Servicer’s Certificate pursuant to Section 5.08. Receivables to be purchased by the Servicer or to be repurchased by World Omni or the Depositor shall be identified by the Servicer by account number with
respect to such Receivable (as specified in the Schedule of Receivables). 
 Section 4.10 Annual Statement as to Compliance;
Item 1122 Servicing Criteria Assessment; Notice of Default. 
 (a) To the extent required by Regulation AB, the Servicer shall
deliver (and shall cause each of its Reporting Subcontractors, if any, to deliver) to the Owner Trustee, the Indenture Trustee and the Swap Counterparty, if any, on or before the date that is 90 days after the end of each calendar year, commencing
with the calendar year ended December 31, 2013, an Officer’s Certificate as required under Item 1123 of Regulation AB, dated as of December 31 of the preceding year, stating that (i) a review of the activities of the
Servicer during the preceding calendar year (or such shorter period as shall have elapsed since the Closing Date) and of its performance under this Agreement has been made under such officer’s supervision and (ii) to the best of such
officer’s knowledge, based on such review, the Servicer has fulfilled all its obligations under this Agreement in all material respects throughout such reporting period, or, if there has been a failure to fulfill any such obligation in any
material respect, specifying each such failure known to such officer and the nature and status thereof. The Servicer shall send a copy of such certificate and the report referred to in Section 4.11 to the Rating Agencies. A copy of such
certificate and the report referred to in Section 4.11 may be obtained by any Certificateholder or Noteholder by a request in writing to the Owner Trustee addressed to the Corporate Trust Office. Upon the request of the Owner Trustee,
the Indenture Trustee will promptly furnish the Owner Trustee a list of Noteholders as of the date specified by the Owner Trustee. 
 (b)
The Servicer shall deliver to the Owner Trustee and the Indenture Trustee, on or before the date that is 90 days after the end of each calendar year, commencing with the calendar year ended December 31, 2013, a report, dated as of
December 31 (or other applicable date) of the preceding year, regarding the Servicer’s assessment of compliance with the Servicing Criteria during the immediately preceding calendar year, including disclosure of any material instance of
non-compliance identified by the Servicer, as described in Rule 13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB. Deliveries pursuant to this Section 4.10(b) may be delivered by electronic mail. 

(c) The Servicer shall deliver to the Owner Trustee, the Indenture Trustee and the Rating Agencies, promptly after having obtained knowledge
thereof, but in no event later than five (5) Business Days thereafter, unless such default shall have been cured prior to such date, written notice in an Officer’s Certificate of any event which with the giving of notice or lapse of time,
or both, would become a Servicer Default under Section 8.01(a) or (b). 

  
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 Section 4.11 Annual Independent Certified Public Accountants’ Report. The
Servicer shall cause a firm of independent certified public accountants, who may also render other services to the Servicer or to its Affiliates, to deliver to the Servicer (who shall promptly provide the assessment described in this
Section 4.11(a) to the Rating Agencies), the Indenture Trustee, the Owner Trustee and the Swap Counterparty, if any, on or before the date that is 90 days after the end of the Servicer’s fiscal year, commencing with the fiscal year
ended December 31, 2013, a report, dated as of December 31 of the preceding fiscal year, addressed to the board of directors of the Servicer, providing its assessment of compliance with the Servicing Criteria during the preceding fiscal
year, including disclosure of any material instance of non-compliance, as described in Rule 13a-18 or Rule 15d-18 under the Exchange Act and Item 1122(b) of Regulation AB. Such attestation shall be in accordance with Rule 1-02(a)(3) and 2-02(g)
of Regulation S-X under the Securities Act and the Exchange Act. Deliveries pursuant to this Section 4.11(a) may be delivered by electronic mail. 

Section 4.12 Access to Certain Documentation and Information Regarding Receivables. The Servicer shall provide to the
Certificateholders and Noteholders access to the Receivable Files in such cases where the Certificateholders or Noteholders shall be required by applicable statutes or regulations to review such documentation. Access shall be afforded without
charge, but only upon reasonable request and during the normal business hours at the offices of the Servicer. Nothing in this Section shall affect the obligation of the Servicer to observe any applicable law prohibiting disclosure of information
regarding the Obligors and the failure of the Servicer to provide access to information as a result of such obligation shall not constitute a breach of this Section. 

Section 4.13 Servicer Expenses. The Servicer shall be required to pay all expenses incurred by it in connection with its
activities hereunder, including fees and disbursements of independent accountants, taxes imposed on the Servicer and expenses incurred in connection with distributions and reports to Certificateholders and Noteholders. 

Section 4.14 Appointment of Subservicer. The Servicer may at any time appoint a subservicer to perform all or any portion of its
obligations as Servicer hereunder; provided, however, that the Rating Agency Condition shall have been satisfied in connection therewith; and provided, further, that the Servicer shall remain obligated and
be liable to the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Certificateholders and the Noteholders for the servicing and administering of the Receivables in accordance with the provisions hereof without diminution of such
obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and administering the Receivables. The fees and expenses of the
subservicer shall be as agreed between the Servicer and its subservicer from time to time, and none of the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Certificateholders or the Noteholders shall have any responsibility therefor.
The Servicer shall give the Indenture Trustee written notice of any subservicer appointed hereunder, 
 Section 4.15 [Reserved].

  
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 Section 4.16 Exchange Act Certifications. To the extent permitted by Exchange Act
Rules, the Servicer shall prepare, execute, file and deliver on behalf of the Issuing Entity any certification or other instrument as required by Exchange Act Rules 13a-14 and 15d-14. 

ARTICLE V 
 TRUST
ACCOUNTS; DISTRIBUTIONS; STATEMENTS TO CERTIFICATEHOLDERS AND NOTEHOLDERS 
 Section 5.01 Establishment of Trust Accounts.

 (a) (i) The Servicer, for the benefit of the Noteholders and the Certificateholders, shall cause to be established and maintained with and
in the name of the Indenture Trustee an Eligible Deposit Account (the “Collection Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders and the
Certificateholders. 
 (ii) The Servicer, for the benefit of the Noteholders, shall cause to be established and maintained
with and in the name of the Indenture Trustee an Eligible Deposit Account (the “Note Distribution Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders. 

(iii) The Servicer, for the benefit of the Noteholders, the Certificateholders and the Swap Counterparty, if any, shall cause
to be established and maintained with and in the name of the Indenture Trustee an Eligible Deposit Account (the “Reserve Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit
of the Noteholders, the Certificateholders and the Swap Counterparty, if any. 
 (iv) If there is a Funding Period, the
Servicer, for the benefit of the Noteholders, shall cause to be established and maintained with and in the name of the Indenture Trustee an Eligible Deposit Account (the “Pre-Funding Account”), bearing a designation clearly
indicating that the funds deposited therein are held for the benefit of the Noteholders. 
 (v) If there is a Funding Period,
the Servicer, for the benefit of the Noteholders and the Swap Counterparty, if any, shall cause to be established and maintained with and in the name of the Indenture Trustee an Eligible Deposit Account (the “Negative Carry
Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders and the Swap Counterparty, if any. 

(b) Funds on deposit in the Collection Account, the Note Distribution Account, the Reserve Account, the Pre-Funding Account, if any, and the
Negative Carry Account, if any, (collectively the “Trust Accounts”) shall be invested by the Indenture Trustee in Eligible Investments selected by the Servicer. In absence of written direction from the Servicer, such funds shall be
invested in Eligible Investments specified in clause (i) of the definition thereof. All such Eligible Investments shall be held by the Indenture Trustee for the benefit of the Noteholders, the Certificateholders and the Swap
Counterparty, if any, as applicable; 

  
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provided, that on each Payment Determination Date all interest and other Investment Earnings on funds on deposit in the Trust Accounts shall be deposited into the Collection Account
and shall be deemed to constitute a portion of Available Funds for the related Payment Date. Other than as permitted by the Rating Agencies, funds on deposit in the Collection Account, the Reserve Account, the Note Distribution Account, the
Pre-Funding Account, if any, and the Negative Carry Account, if any, shall be invested in Eligible Investments that will mature (A) not later than the Business Day immediately preceding the next Payment Date or (B) on or before 10:00 a.m.
on such next Payment Date if such investment is held in the corporate trust department of the institution with which the Collection Account, the Reserve Account, the Note Distribution Account, the Pre-Funding Account, if any, and the Negative Carry
Account, if any, as applicable, is then maintained and is invested either (i) in a time deposit of the Indenture Trustee rated at least A-1 by Standard & Poor’s and (if rated by Fitch) F-1 by Fitch (such account being maintained
within the corporate trust department of the Indenture Trustee), (ii) in the Indenture Trustee’s common trust fund so long as such fund is rated in the highest applicable rating category by Standard & Poor’s and (if rated by
Fitch) Fitch or (iii) in Eligible Investments specified in clauses (g) or (i) of the definition thereof; and provided that Eligible Investments shall be available for redemption and use by the Indenture Trustee on the
relevant Payment Date. In no event shall the Indenture Trustee be held liable for investment losses in Eligible Investments pursuant to this Section 5.01, except in its capacity as obligor thereunder. 

(c) (i) The Indenture Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Trust Accounts and
in all proceeds thereof (including all income thereon) and all such funds, investments, proceeds and income shall be part of the Trust Estate. The Trust Accounts shall be under the sole dominion and control of the Indenture Trustee for the benefit
of the Noteholders, the Certificateholders and the Swap Counterparty, if any, as the case may be. If, at any time, any of the Trust Accounts ceases to be an Eligible Deposit Account, the Indenture Trustee (or the Servicer on its behalf) shall within
10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency may consent) establish a new Trust Account as an Eligible Deposit Account and shall transfer any cash and/or any investments to such new Trust
Account. The Indenture Trustee or the other Person holding the Trust Accounts as provided in this Section 5.01(c)(i) shall be the “Securities Intermediary.” If the Securities Intermediary shall be a Person other than the
Indenture Trustee, the Servicer shall obtain the express agreement of such Person to the obligations of the Securities Intermediary set forth in this Section 5.01. 

(ii) With respect to the Trust Account Property, the Securities Intermediary agrees, by its acceptance hereof, that: 

(A) The Trust Accounts are accounts to which Financial Assets will be credited. 

(B) All securities or other property underlying any Financial Assets credited to the Trust Accounts shall be registered in the
name of the Securities Intermediary, indorsed to the Securities Intermediary or in blank or credited to another securities account maintained in the name of the Securities Intermediary and in no case will any Financial Asset credited to any of the
Trust Accounts be registered in the name of the Trust, the Servicer or the Depositor, payable to the 

  
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order of the Trust, the Servicer or the Depositor or specially indorsed to the Owner Trustee, the Servicer or the Depositor except to the extent the foregoing have been specially indorsed to the
Securities Intermediary or in blank. 
 (C) All property delivered to the Securities Intermediary pursuant to this Agreement
will be promptly credited to the appropriate Trust Account. 
 (D) Each item of property (whether investment property,
Financial Asset, security, instrument or cash) credited to a Trust Account shall be treated as a “financial asset” within the meaning of Section 8-102(a)(9) of the New York UCC. 

(E) If at any time the Securities Intermediary shall receive any order from the Indenture Trustee directing transfer or
redemption of any Financial Asset relating to the Trust Accounts, the Securities Intermediary shall comply with such entitlement order without further consent by the Trust, the Servicer, the Depositor or any other Person. 

(F) The Trust Accounts shall be governed by the laws of the State of New York, regardless of any provision in any other
agreement. For purposes of the UCC, New York shall be deemed to be the Securities Intermediary’s jurisdiction and the Trust Accounts (as well as the securities entitlements (as defined in Section 8-102(a)(17) of the UCC) related thereto)
shall be governed by the laws of the State of New York. 
 (G) The Securities Intermediary has not entered into, and until
the termination of this Agreement will not enter into, any agreement with any other person relating to the Trust Accounts and/or any Financial Assets credited thereto pursuant to which it has agreed to comply with entitlement orders (as defined in
Section 8-102(a)(8) of the New York UCC) of such other person and the Securities Intermediary has not entered into, and until the termination of this Agreement will not enter into, any agreement with the Trust, the Depositor, the Swap
Counterparty, if any, the Servicer or the Indenture Trustee purporting to limit or condition the obligation of the Securities Intermediary to comply with entitlement orders as set forth in Section 5.01(c)(ii)(E) hereof. 

(H) Except for the claims and interest of the Indenture Trustee and of the Trust in the Trust Accounts, the Securities
Intermediary knows of no claim to, or interest in, the Trust Accounts or in any Financial Asset credited thereto. If any other person asserts any lien, encumbrance or adverse claim (including any writ, garnishment, judgment, warrant of attachment,
execution or similar process) against the Trust Accounts or in any Financial Asset carried therein, the Securities Intermediary will promptly notify the Indenture Trustee, the Servicer, the Swap Counterparty, if any, and the Trust thereof. 

(I) The Securities Intermediary will promptly send copies of all statements, confirmations and other correspondence concerning
the Trust Accounts and/or any Trust Account Property simultaneously to each of the Servicer and the Indenture Trustee. 

(iii) The Servicer shall have the power, revocable by the Indenture Trustee or by the Owner Trustee with the consent of the
Indenture Trustee, to instruct the Indenture Trustee to make withdrawals and payments from the Trust Accounts for the purpose of permitting the Servicer or the Owner Trustee to carry out its respective duties hereunder or permitting the Indenture
Trustee to carry out its duties under the Indenture. 

  
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 (d) Pre-Funding Account. On the Closing Date, the Depositor shall deposit in the
Pre-Funding Account $0.00 (the “Pre-Funding Account Initial Deposit”) from the net proceeds of the sale of the Notes. On each Subsequent Transfer Date, if any, upon satisfaction of the conditions set forth in
Section 2.03(b) with respect to such transfer, the Servicer shall instruct the Indenture Trustee to withdraw from the Pre-Funding Account (i) an amount equal to [RESERVED]% of the result of the aggregate Starting Principal Balance
of the Subsequent Receivables transferred to the Trust on such Subsequent Transfer Date less the Yield Supplement Overcollateralization Amount with respect to such Subsequent Receivables as of the related Cutoff Date and (ii), on behalf of the
Depositor, deposit into the Reserve Account a portion of such funds equal to the Reserve Account Subsequent Transfer Deposit with respect to such Subsequent Transfer Date and distribute the remainder to or upon the order of the Depositor as payment
for such Subsequent Receivables. 
 If the Pre-Funded Amount has not been reduced to zero on the Payment Date immediately following the
calendar month in which the Funding Period, if any, ends, the Servicer shall instruct the Indenture Trustee to transfer from the Pre-Funding Account on such Payment Date any amount then remaining in the Pre-Funding Account to the Note Distribution
Account for distribution in accordance with Section 8.02(g) of the Indenture. 
 (e) Negative Carry Account. On the
Closing Date, the Depositor shall deposit in the Negative Carry Account $0.00 (the “Negative Carry Account Initial Deposit”) from the net proceeds of the sale of the Notes. 

On each Payment Date during the Funding Period, if any, the Servicer will instruct the Indenture Trustee to withdraw from the Negative Carry
Account (i) an amount equal to the Negative Carry Amount and deposit it into the Collection Account for application as Total Available Funds for such Payment Date, and (ii) the excess of the amount on deposit in the Negative Carry Account,
if any, over the Required Negative Carry Account Balance (after withdrawal of the Negative Carry Amount for such Payment Date) and deposit it into the Collection Account for application as Available Funds for such Payment Date. In addition, on the
Payment Date following the calendar month in which the last day of the Funding Period occurs, the Servicer will instruct the Indenture Trustee to withdraw from the Negative Carry Account the amount remaining on deposit in the Negative Carry Account
(after giving effect to all withdrawals from the Negative Carry Account on that Payment Date) and deposit it into the Collection Account for application as Available Funds for such Payment Date. 

  
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 Section 5.02 Collections. The Servicer shall remit to the Collection Account (and
post such amounts to its records) within two Business Days of receipt of payment (including receipt of proper instructions regarding where to allocate such payment) all payments by or on behalf of the Obligors with respect to the Receivables (other
than Purchased Receivables) and all Liquidation Proceeds, both as collected during the Collection Period. Notwithstanding the foregoing, for so long as (i) World Omni remains the Servicer, (ii) no Servicer Default shall have occurred and
be continuing and (iii) the Rating Agency Condition is met, the Servicer shall remit such collections with respect to the preceding calendar month to the Collection Account on the Payment Determination Date immediately preceding the related
Payment Date. For purposes of this Article V the phrase “payments by or on behalf of Obligors” shall mean payments made with respect to the Receivables by Persons other than the Servicer or the Depositor. 

Section 5.03 Application of Collections. With respect to each Receivable (other than a Purchased Receivable), payments by or on
behalf of the Obligor shall be applied to interest and principal in accordance with the Simple Interest Method. 
 Section 5.04
Advances. On each Payment Date, the Servicer shall deposit into the Collection Account an amount (such amount, an “Advance”), if positive, equal to (1) the Total Required Advances with respect to such Payment Date minus
(2) the Outstanding Advance immediately following the preceding Payment Date. On each Payment Date, the Servicer shall be reimbursed for Outstanding Advances in an amount, if positive, equal to (1) the Outstanding Advances immediately
following the preceding Payment Date minus (2) the Total Required Advances with respect to such Payment Date. The Servicer shall not make any advance in respect of principal on the Receivables. 

Section 5.05 Additional Deposits. The Servicer and the Depositor shall deposit or cause to be deposited in the Collection Account
the aggregate Purchase Amount with respect to Purchased Receivables and the Servicer shall deposit therein all amounts to be paid under Section 9.01. The Servicer will deposit the aggregate Purchase Amount with respect to Purchased
Receivables when such obligations are due. The Servicer shall, if necessary, deposit all Advances required to be made pursuant to Section 5.04 in the Collection Account on each Payment Date. All such other deposits shall be made on the
Payment Determination Date for the related Collection Period. 
 Section 5.06 Distributions. 

(i) On or before 11:00 a.m. New York City time on each Payment Determination Date, the Servicer shall calculate (A) all
amounts required to be deposited in the Note Distribution Account, (B) all amounts required to be distributed to the Certificateholders, (C) all amounts required to be transferred from the Pre-Funding Account and the Negative Carry
Account, if any, and (D) the net amount payable by or to the Trust under the Interest Rate Swaps, if any. 
 (ii) Except
as otherwise provided in clause (iii) below, on each Payment Date, the Servicer shall instruct the Indenture Trustee (based on the information contained in the Servicer’s Certificate delivered on the related Payment Determination
Date pursuant to Section 4.09) to make the following deposits and distributions in the following order of priority, in each case, to the extent of Total Available Funds, if any, remaining after application thereof pursuant to prior
clauses: 
 (A) pro rated to the applicable Swap Counterparty, the applicable Monthly Swap Payment Amount, if any; 

  
 20 

 (B) pro rata (a) to the Note Distribution Account, the Class A
Noteholders’ Interest Distributable Amount and (b) to the applicable Swap Counterparty, any Senior Swap Termination Payment Amount owed to such Swap Counterparty by the Trust, if any; 

(C) to the Note Distribution Account, the Noteholders’ First Priority Principal Distributable Amount; 

(D) to the Note Distribution Account, the Class B Noteholders’ Interest Distributable Amount; 

(E) to the Note Distribution Account, the Noteholders’ Second Priority Principal Distributable Amount; 

(F) to the Reserve Account, the amount necessary to reinstate the balance in the Reserve Account up to the Required Reserve
Amount; 
 (G) to the Note Distribution Account, an amount equal to the Noteholders’ Principal Distributable Amount
minus any amounts allocated to the Note Distribution Account pursuant to clauses (C) and (E) above; 

(H) pro rated to the applicable Swap Counterparty, any Subordinate Swap Termination Payment Amount together with any other
amount due and payable by the Trust to such Swap Counterparty pursuant to the Interest Rate Swap, if any; and 
 (I) to the
Certificateholders, any remaining amounts; provided the Indenture Trustee has not received written instruction from the Certificateholders of 100% percentage interest in the Certificates to redeposit all or a portion of such Total Available
Funds due such Certificateholders into the Collection Account. 
 The Holders of 100% Percentage Interest of the Certificates will have the right, but not
the obligation, in their sole discretion, to instruct the Indenture Trustee in writing on or before 11:00 a.m. New York City time on the related Payment Determination Date to retain in the Collection Account all or a portion of distributions
otherwise payable to them pursuant to clause (I) above. If the Certificateholders make this election, these amounts will be treated as collections during the then current Collection Period and the Certificateholders will have no claim to
such amounts (unless distributed on a subsequent Payment Date pursuant to clause (I) above). 
 (iii) In the
event Notes are declared to be due and payable following the occurrence of an Event of Default under the Indenture, Available Funds will be distributed in the following order or priority: 

(A) pro rated to the applicable Swap Counterparty, the applicable Monthly Swap Payment Amount, if any; 

  
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 (B) pro rata (a) to the Holders of the Class A Notes, the aggregate
accrued and unpaid interest on each class of the Class A Notes and (b) to the applicable Swap Counterparty, any Senior Swap Termination Payment Amount owed to such Swap Counterparty by the Trust, if any; 

(C) if the Notes have been declared to be due and payable as a result of occurrence of an Event of Default under
Section 5.01(a)(i) or (ii) of the Indenture, to the Holders of the Class A-1 Notes, the aggregate Outstanding Amount of such Notes, and then to the Holders of the Class A-2 Notes, the Class A-3 Notes and the
Class A-4 Notes, pro rata, the aggregate Outstanding Amount of such Notes; 
 (D) to the Holders of the Class B Notes,
the accrued and unpaid interest on the Class B Notes; 
 (E) if the Notes have been declared to be due and payable as a
result of occurrence of an Event of Default under the Indenture other than as a result of default in payment of any interest on or principal of any Note in accordance with the Indenture, to the Holders of the Class A-1 Notes, the aggregate
Outstanding Amount of such Notes, and then to the Holders of the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes, pro rata, the aggregate Outstanding Amount of such Notes; 

(F) to the Holders of the Class B Notes, the Outstanding Amount of the Class B Notes; 

(G) pro rated to the applicable Swap Counterparty, any Subordinate Swap Termination Payment Amount together with any other
amount due and payable by the Trust to such Swap Counterparty pursuant to the Interest Rate Swaps, if any; and 
 (H) to the
Certificateholders, any remaining amounts. 
 Section 5.07 Reserve Account. 

(a) On the Closing Date, the Indenture Trustee will deposit, on behalf of the Depositor, the Reserve Account Initial Deposit into the Reserve
Account. 
 (b) If the amount on deposit in the Reserve Account on any Payment Date (after giving effect to all deposits thereto or
withdrawals therefrom on such Payment Date) is greater than the Required Reserve Amount for such Payment Date, the Servicer shall instruct the Indenture Trustee to withdraw such amount from the Reserve Account and apply it as Total Available Funds
for such Payment Date. 
 (c) In the event that the Total Available Funds for a Payment Date are not sufficient to make the full amount of
the payments and deposits required pursuant to 

  
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Sections 5.06(ii)(A), (B), (C), (D) and (E) on such Payment Date, the Servicer shall instruct the Indenture Trustee to withdraw from the
Reserve Account on such Payment Date an amount equal to such shortfall, to the extent of funds available therein, and pay or deposit such amount according to the priorities set forth in Section 5.06(ii). In addition, amounts will be
withdrawn from the Reserve Account as provided in Section 8.02(c) and (d) of the Indenture. 
 (d) Subject to
Section 9.01, amounts will continue to be applied pursuant to Section 5.06 following payment in full of the Outstanding Amount of the Notes until the Pool Balance is reduced to zero. Following the payment in full of the
aggregate Outstanding Amount of the Notes and of all other amounts owing or to be distributed hereunder or under the Indenture or the Trust Agreement to Noteholders, any amount remaining on deposit in the Reserve Account shall be distributed to the
Certificateholders. 
 Section 5.08 Statements to Noteholders and Certificateholders. On or prior to 11:00 a.m. New York City
time on each Payment Determination Date, the Servicer shall provide to the Indenture Trustee (with a copy to the Rating Agencies and the Swap Counterparty, if any) for the Indenture Trustee to post on its internet website pursuant to
Section 6.06 of the Indenture, a statement substantially in the form of Exhibit B, setting forth at least the following information as to the Notes, to the extent applicable: 

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

(b) the amount of such distribution allocable to interest allocable to each Class of Notes; 

(c) the Outstanding Amount of each Class of Notes and the Note Pool Factor for each such Class as of the close of business on the last day of
the preceding Collection Period; 
 (d) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period,
the amount of any unpaid Servicing Fee and the change in such amount from the prior Payment Date; 
 (e) the balance of the Reserve Account
on such Payment Determination Date after giving effect to deposits and withdrawals to be made on the immediate following Payment Date, if any; 

(f) the amount, if any, distributed to Noteholders and Certificateholders from amounts on deposit in the Reserve Account or from other forms
of credit enhancement; 
 (g) the Pool Balance as of the close of business on the last day of the related Collection Period, after giving
effect to payments allocated to principal reported under clause (a) above; 
 (h) the Class A Noteholders’ Interest Carryover
Shortfall; 
 (i) the Class B Noteholders’ Interest Carryover Shortfall; 

  
 23 

 (j) the number of Receivables purchased by, and the aggregate Purchase Amount paid by, World Omni
or the Servicer with respect to the related Collection Period; 
 (k) delinquency information relating to the Receivables which has a
payment of $40 or more that is more than 30, 60 or 90 days delinquent; 
 (l) the aggregate amount of Receivables which have become
Defaulted Receivables during the preceding Collection Period; 
 (m) the amount, if any, distributed to the Certificateholders and the
balance of the Certificates after giving effect to all distributions reported under this clause (n); 
 (n) the Noteholders’
First Priority Principal Distributable Amount; 
 (o) the Noteholders’ Second Priority Principal Distributable Amount; 

(p) the Noteholders’ Principal Distributable Amount; 

(q) the Overcollateralization Target Amount for the immediately following Payment Date; 

(r) the Negative Carry Amount, if any, and the balance, if any, of the Negative Carry Account on such date, after giving effect to deposits
and withdrawals to be made on the immediately following Payment Date, if any; 
 (s) for Payment Dates during the Funding Period, if any,
the Starting Principal Balance for all Subsequent Receivables transferred to the Trust since the preceding Payment Date, the remaining Pre-Funded Amount and the Investment Earnings on amounts on deposit in the Pre-Funding Account, if any, for the
related Collection Period; 
 (t) for the Payment Date immediately following the calendar month in which the Funding Period, if any, ends,
the amount of any remaining Pre-Funded Amount that has not been used to fund the purchase of Subsequent Receivables; 
 (u) the amount of
outstanding Advances on such date; 
 (v) the number and dollar amount of Receivables at the beginning and end of the applicable Collection
Period, and the weighted average coupon and weighted average remaining term of the Receivables held by the Trust; 
 (w) delinquency and
loss information for the applicable Collection Period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; 

(x) material breaches of pool asset representations and warranties or transaction covenants; 

  
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 (y) any material modifications, extensions or waivers relating to the terms of or fees, penalties
or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; 
 (z) the Yield
Supplement Overcollateralization Amount for the related Payment Date; 
 (aa) the Interest Rate for each Class of Notes for the next Payment
Date; and 
 (bb) the Monthly Swap Payment Amount, the Senior Swap Termination Payment Amount and the Subordinate Swap Termination Payment
Amount, if any. 
 Each amount set forth on the Payment Date statement under clauses (a), (b), (h) and (i) above shall
be expressed as a dollar amount per $1,000 of original principal amount of a Note. Deliveries pursuant to this Section 5.08 may be delivered by electronic mail. 

Section 5.09 Net Deposits. As an administrative convenience, the Servicer will be permitted to make the deposit of collections on
the Receivables, Advances and Purchase Amounts for or with respect to the Collection Period net of distributions (including without limitation the Servicing Fee) to be made to the Servicer with respect to the Collection Period. The Servicer,
however, will account to the Owner Trustee, the Indenture Trustee, the Noteholders and the Certificateholders as if all deposits, distributions and transfers were made individually. 

Section 5.10 Transfer of Certificates. In the event any Certificateholder shall wish to transfer such Certificate, the Depositor
shall provide to such Certificateholder and any prospective transferee designated by such Certificateholder information regarding the Certificates and the Receivables and such other information as shall be necessary to satisfy the condition to
eligibility set forth in Rule 144A(d)(4) for transfer of any such Certificate without registration thereof under the Securities Act, pursuant to the exemption from registration provided by Rule 144A. 

ARTICLE VI 
 THE
DEPOSITOR 
 Section 6.01 Representations of Depositor. The Depositor makes the following representations on which the
Issuing Entity is deemed to have relied in acquiring the Receivables. The representations speak as of the Closing Date and each Subsequent Transfer Date, if any, and shall survive the sale of the Receivables to the Issuing Entity and the pledge
thereof to the Indenture Trustee pursuant to the Indenture. 
 (a) Organization and Good Standing. The Depositor is duly organized
and validly existing as a limited liability company in good standing under the laws of the State of Delaware, with the requisite power and authority to own its properties and to conduct its business as such properties are currently owned and such
business is presently conducted, and had at all relevant times, and has, the requisite power, authority and legal right to acquire and own the Receivables. 

  
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 (b) Due Qualification. The Depositor is duly qualified to do business as a foreign limited
liability company in good standing, and has obtained all necessary material licenses and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications, except where the
failure to be so qualified or to have obtained such licenses or approvals would not have a material adverse effect on the Depositor’s earnings, business affairs or business prospects. 

(c) Power and Authority. The Depositor has the requisite power and authority to execute and deliver this Agreement and to carry out its
terms; the Depositor has full power and authority to sell and assign the property to be sold and assigned to and deposited with the Issuing Entity, and the Depositor shall have duly authorized such sale and assignment to the Issuing Entity by all
necessary action; and the execution, delivery and performance of this Agreement has been duly authorized by the Depositor by all necessary action. 

(d) Binding Obligation. This Agreement constitutes a legal, valid and binding obligation of the Depositor enforceable against the
Depositor in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws, now or hereafter in effect, affecting the enforcement of creditors’
rights in general, and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity). 

(e) No Violation. The consummation of the transactions contemplated by this Agreement and the fulfillment of the terms hereof do not
(i) conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under, the limited liability company agreement or bylaws of the Depositor; (ii) breach,
conflict with or violate any of the material terms or provisions of, or constitute (with or without notice or lapse of time) a default under, any indenture, agreement or other instrument to which the Depositor is a party or by which it is bound;
(iii) result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement or other instrument (other than pursuant to this Agreement and the Basic Documents); or, (iv) to the
best of the Depositor’s knowledge, violate any order, rule or regulation applicable to the Depositor of any court or of any federal or state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over
the Depositor or its properties except, in the case of clauses (ii), (iii) and (iv), for such breaches, defaults, conflicts, liens or violations that would not have a material adverse effect on the Depositor’s
earnings, business affairs or business prospects. 
 (f) No Proceedings. To the Depositor’s best knowledge, there are no
proceedings or investigations pending or threatened before any court, regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Depositor or its properties: (i) asserting the invalidity of this
Agreement, the Indenture or any of the other Basic Documents, the Notes or the Certificates, (ii) seeking to prevent the issuance of the Notes or the Certificates or the consummation of any of the transactions contemplated by this Agreement,
the Indenture or any of the other Basic Documents, (iii) seeking any determination or ruling that could reasonably be expected to materially and adversely affect the performance by the Depositor of its obligations under, or the validity or
enforceability of, this Agreement, the Indenture, any of the other Basic Documents, the Notes or the Certificates or (iv) which could reasonably be expected to adversely affect the federal or state income tax attributes of the Notes or the
Certificates. 

  
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 (g) All Consents. All authorizations, licenses, consents, orders or approvals of, or
registrations or declarations with, any court, regulatory body, administrative agency or other government instrumentality required to be obtained, effected or given by the Depositor in connection with the execution and delivery by the Depositor of
this Agreement or any of the Basic Documents to which it is a party and the performance by the Depositor of the transactions contemplated by this Agreement or any of the Basic Documents to which it is a party, have been duly obtained, effected or
given and are in full force and effect, except where failure to obtain the same would not have a material adverse effect upon the rights of the Trust, the Noteholders or the Certificateholders. 

Section 6.02 Limited Liability Company Existence. 

(a) During the term of this Agreement, the Depositor will keep in full force and effect its existence, rights and franchises as a limited
liability company under the laws of the jurisdiction of its formation and will obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability
of this Agreement, the Basic Documents and each other instrument or agreement necessary or appropriate to the proper administration of this Agreement and the transactions contemplated hereby. In addition, all transactions and dealings between the
Depositor and its Affiliates will be conducted on an arm’s-length basis. 
 (b) During the term of this Agreement, the Depositor shall
observe the applicable legal requirements for the recognition of the Depositor as a legal entity separate and apart from its affiliates, including the following: 

(i) the Depositor shall maintain limited liability company records and books of account separate from those of its affiliates;

 (ii) except as otherwise provided in this Agreement, the Depositor shall not commingle its assets and funds with those of
its affiliates; 
 (iii) the Depositor shall hold such appropriate meetings of its Board of Directors as are necessary to
authorize all the Depositor’s limited liability company actions required by law to be authorized by the Board of Directors, shall keep minutes of such meetings and observe all other customary limited liability company formalities (and any
successor Depositor not a limited liability company shall observe similar procedures in accordance with its governing documents and applicable law); and 

(iv) the Depositor shall at all times hold itself out to the public under the Depositor’s own name as a legal entity
separate and distinct from its affiliates. 

  
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 Section 6.03 Liability of Depositor; Indemnities. The Depositor shall be liable in
accordance herewith only to the extent of the obligations specifically undertaken by the Depositor under this Agreement: 
 (a) The
Depositor shall indemnify, defend and hold harmless the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Servicer and the Swap Counterparty, if any, and any of the officers, directors, employees and agents of the Issuing Entity, the
Owner Trustee and the Indenture Trustee from and against any taxes that may at any time be asserted against any such Person with respect to the transactions contemplated herein and in the Basic Documents, including any sales, gross receipts, general
corporation, tangible personal property, privilege or license taxes (but, in the case of the Issuing Entity, not including any taxes asserted with respect to, and as of the date of, the sale of the Receivables to the Issuing Entity or the issuance
and original sale of the Certificates and the Notes, or asserted with respect to ownership of the Receivables, or federal or other income taxes arising out of distributions on the Certificates or the Notes) and costs and expenses in defending
against the same. 
 (b) The Depositor shall indemnify, defend and hold harmless the Issuing Entity, the Owner Trustee, the Indenture
Trustee, the Certificateholders, the Noteholders and the Swap Counterparty, if any, and any of the officers, directors, employees and agents of the Issuing Entity, the Owner Trustee and the Indenture Trustee from and against any loss, liability or
reasonable and documented expense incurred by reason of the Depositor’s willful misfeasance, bad faith or negligence (except for errors in judgment) in the performance of its duties under this Agreement, or by reason of reckless disregard of
its obligations and duties under this Agreement. 
 (c) The Depositor shall indemnify, defend and hold harmless the Owner Trustee and the
Indenture Trustee and their respective officers, directors, employees and agents from and against all reasonable and documented cost and expense, and all other losses, claims, damages and liabilities arising out of or incurred in connection with the
acceptance or performance of the trusts and duties herein and in the Trust Agreement, in the case of the Owner Trustee, and in the Indenture, in the case of the Indenture Trustee, except to the extent that such cost, expense, loss, claim, damage or
liability: (i) in the case of the Owner Trustee, shall be due to the willful misfeasance, bad faith or negligence (except for errors in judgment) of the Owner Trustee or, in the case of the Indenture Trustee, shall be due to the willful
misfeasance, bad faith or negligence (except for errors in judgment) of the Indenture Trustee or (ii) in the case of the Owner Trustee, shall arise from the breach by the Owner Trustee of any of its representations or warranties set forth in
Section 7.03 of the Trust Agreement. 
 (d) The Depositor shall pay any and all taxes levied or assessed upon all or any part of
the Owner Trust Estate. 
 Indemnification under this Section shall survive the resignation or removal of the Owner Trustee or the Indenture
Trustee and the termination of this Agreement and the Trust Agreement and shall include reasonable and documented fees and expenses of counsel and expenses of litigation. If the Depositor shall have made any indemnity payments pursuant to this
Section and the Person to or on behalf of whom such payments are made thereafter shall collect any of such amounts from others, such Person shall promptly repay such amounts to the Depositor, without interest. 

Notwithstanding anything to the contrary contained in this Agreement or any other document, the obligations of the Depositor under this
Section 6.03 and Section 7.5 of the 

  
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Depositor’s Limited Liability Company Agreement are solely the company obligations of the Depositor and shall be payable by it (x) solely from funds distributed to it in its capacity as
Certificateholder available pursuant to, and in accordance with, the payment priorities set forth in Section 5.06 of this Agreement and (z) only to the extent that it receives additional funds designated for such purposes or to the
extent it has additional funds available (other than funds described in preceding clause (x)). In addition, no amount owing by the Depositor hereunder or under Section 7.5 of its Limited Liability Company Agreement in excess of
the liabilities that it is required to pay in accordance with the preceding sentence shall constitute a “claim” (as defined in Section 101(5) of the Bankruptcy Code) against it. No recourse shall be had for the payment of any
amount owing hereunder or under Section 7.5 of the Depositor’s Limited Liability Company Agreement or any other obligation of, or claim against, the Depositor, arising out of or based upon this Section 6.03 or under
Section 7.5 of its Limited Liability Company Agreement against any employee, officer, agent, directed or authorized person of the Depositor; provided, however, that the foregoing shall not relieve any such person or entity
of any liability they might otherwise have as a result of fraudulent actions or omissions taken by them. 
 Section 6.04 Merger or
Consolidation of, or Assumption of Obligations of Depositor. Any Person (a) into which the Depositor may be merged or consolidated, (b) which may result from any merger or consolidation to which the Depositor shall be a party or
(c) which may succeed to the properties and assets of the Depositor substantially as a whole, which person in any of the foregoing cases executes an agreement of assumption to perform every obligation of the Depositor under this Agreement,
shall be the successor to the Depositor hereunder without the execution or filing of any document or any further act by any of the parties to this Agreement; provided, however, that (i) immediately after giving effect to such
transaction, no representation or warranty made pursuant to Section 3.01 shall have been breached and no Servicer Default in respect of the Depositor under Section 8.01(b) or (c) shall have occurred and be
continuing, and no event that, after notice or lapse of time, or both, would become a Servicer Default in respect of the Depositor under Section 8.01(b) or (c) shall have occurred and be continuing, (ii) the Depositor
shall have delivered to the Owner Trustee and the Indenture Trustee an Officers’ Certificate stating that such consolidation, merger or succession and such agreement of assumption comply with this Section and that all conditions precedent, if
any, provided for in this Agreement relating to such transaction have been complied with, (iii) the Rating Agency Condition shall have been satisfied with respect to such transaction and (iv) the Depositor shall have delivered to the Owner
Trustee and the Indenture Trustee an Opinion of Counsel either (A) stating that, in the opinion of such counsel, all financing statements and continuation statements and amendments thereto have been filed that are necessary fully to preserve
and protect the interest of the Owner Trustee and Indenture Trustee, respectively, in the Receivables and reciting the details of such filings, or (B) stating that, in the opinion of such counsel, no such action shall be necessary to preserve
and protect such interests. Notwithstanding anything herein to the contrary, (a) the execution of the foregoing agreement of assumption and compliance with clauses (i), (ii), (iii) and (iv) above shall be
conditions to the consummation of the transactions referred to in clause (a), (b) or (c) above and (b) the Depositor may transfer its rights under this Agreement in accordance with Section 4.15 hereof.

 Section 6.05 Limitation on Liability of Depositor and Others. The Depositor and any director, officer, employee or agent of
the Depositor may rely in good faith on the advice of counsel or on any document of any kind, prima facie properly executed and submitted by any 

  
 29 

 
Person respecting any matters arising hereunder. The Depositor shall not be under any obligation to appear in, prosecute or defend any legal action that shall not be incidental to its obligations
under this Agreement, and that in its opinion may involve it in any expense or liability. 
 Section 6.06 Depositor May Own
Notes. The Depositor and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Notes with the same rights as it would have if it were not the Depositor or an Affiliate thereof, except as expressly
provided herein or in any Basic Document. 
 Section 6.07 Security Interest. During the term of this Agreement, the Depositor
will not take any action to assign the security interest in any Financed Vehicle other than pursuant to the Basic Documents. 
 ARTICLE
VII 
 THE SERVICER 

Section 7.01 Representations of Servicer. The Servicer makes the following representations on which the Issuing Entity is deemed
to have relied in acquiring the Receivables. The representations speak as of the Closing Date, and shall survive the sale of the Receivables from time to time to the Issuing Entity and the pledge thereof to the Indenture Trustee pursuant to the
Indenture. 
 (a) Organization and Good Standing. The Servicer is duly organized and validly existing as a corporation in good
standing under the laws of the state of its incorporation, with the corporate power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted, and had at all
relevant times, and has, the corporate power, authority and legal right to acquire, own, sell and service the Receivables and to hold the Receivable Files as custodian. 

(b) Due Qualification. The Servicer is duly qualified to do business as a foreign corporation in good standing, and has obtained all
necessary material licenses and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business (including the servicing of the Receivables as required by this Agreement) shall require such qualifications,
except where the failure to be so qualified or to have obtained such licenses or approvals would not have a material adverse effect on the Servicer’s earnings, business affairs or business prospects. 

(c) Power and Authority. The Servicer has the corporate power and authority to execute and deliver this Agreement and to carry out its
terms; and the execution, delivery and performance of this Agreement have been duly authorized by the Servicer by all necessary corporate action. 

(d) Binding Obligation. This Agreement constitutes a legal, valid and binding obligation of the Servicer enforceable against the
Servicer in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws, now or hereafter in effect, affecting the enforcement of creditors’
rights in general, and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity). 

  
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 (e) No Violation. The consummation of the transactions contemplated by this Agreement and
the fulfillment of the terms hereof do not (i) conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under, the articles of incorporation or bylaws of the
Servicer; (ii) breach, conflict with or violate any of the material terms or provisions of, or constitute (with or without notice or lapse of time) a default under, any indenture, agreement or other instrument to which the Servicer is a party
or by which it is bound; (iii) result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement or other instrument (other than pursuant to this Agreement and the Basic
Documents); or, (iv) to the best of the Servicer’s knowledge, violate any order, rule or regulation applicable to the Servicer of any court or of any federal or state regulatory body, administrative agency or other governmental
instrumentality having jurisdiction over the Servicer or its properties except, in the case of clauses (ii), (iii) and (iv), for such breaches, defaults, conflicts, liens or violations that would not have a material adverse
effect on the Servicer’s earnings, business affairs or business prospects. 
 (f) No Proceedings. To the Servicer’s best
knowledge, there are no proceedings or investigations pending or threatened before any court, regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Servicer or its properties: (i) asserting
the invalidity of this Agreement, the Indenture, any of the other Basic Documents, the Notes or the Certificates, (ii) seeking to prevent the issuance of the Notes or the Certificates or the consummation of any of the transactions contemplated
by this Agreement, the Indenture or any of the other Basic Documents, (iii) seeking any determination or ruling that could reasonably be expected to materially and adversely affect the performance by the Servicer of its obligations under, or
the validity or enforceability of, this Agreement, the Indenture, any of the other Basic Documents, the Notes or the Certificates or (iv) relating to the Servicer and which could reasonably be expected to adversely affect the federal or state
income tax attributes of the Notes or the Certificates. 
 (g) Approvals. All approvals, licenses, authorizations, consents, orders
or other actions of any person, corporation or other organization, or of any court, governmental agency or body or official, required in connection with the execution and delivery of this Agreement have been or will be taken or obtained on or prior
to the Closing Date, except where failure to obtain the same would not have a material adverse effect upon the rights of the Depositor, the Trust, the Noteholders or the Certificateholders. 

Section 7.02 Indemnities of Servicer. The Servicer shall be liable in accordance herewith only to the extent of the obligations
specifically undertaken by the Servicer under this Agreement: 
 (a) The Servicer shall indemnify, defend and hold harmless the Issuing
Entity, the Owner Trustee, the Swap Counterparty, if any, the Indenture Trustee, the Noteholders, the Certificateholders and the Depositor and any of the officers, directors, employees and agents of the Issuing Entity, the Owner Trustee and the
Indenture Trustee from and against any and all reasonable and documented costs and expenses, and all other losses, damages, claims and liabilities arising out of or resulting from the use, ownership or operation by the Servicer or any Affiliate
thereof of a Financed Vehicle. 

  
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 (b) The Servicer shall indemnify, defend and hold harmless the Issuing Entity, the Owner Trustee,
the Indenture Trustee, the Swap Counterparty, if any, the Depositor, the Certificateholders and the Noteholders and any of the officers, directors, employees and agents of the Issuing Entity, the Owner Trustee and the Indenture Trustee from and
against any and all costs, expenses, losses, claims, damages and liabilities to the extent that such cost, expense, loss, claim, damage or liability arose out of, or was imposed upon any such Person through, the willful misfeasance, bad faith or
negligence (except for errors in judgment) of the Servicer in the performance of its duties under this Agreement or by reason of reckless disregard of its obligations and duties under this Agreement. 

For purposes of this Section, in the event of the termination of the rights and obligations of World Omni (or any successor thereto pursuant
to Section 7.03) as Servicer pursuant to Section 8.01, or a resignation by such Servicer pursuant to this Agreement, such Servicer shall be deemed to be the Servicer pending appointment of a successor Servicer (other than the
Indenture Trustee) pursuant to Section 8.02. 
 Indemnification under this Section shall survive the resignation or removal of
the Owner Trustee or the Indenture Trustee or the termination of this Agreement and the Trust Agreement and shall include reasonable fees and expenses of counsel and expenses of litigation. If the Servicer shall have made any indemnity payments
pursuant to this Section and the Person to or on behalf of whom such payments are made thereafter collects any of such amounts from others, such Person shall promptly repay such amounts to the Servicer, without interest. 

Section 7.03 Merger or Consolidation of, or Assumption of Obligations of, Servicer. The Servicer shall not consolidate with or
merge into any other corporation or convey or transfer its properties and assets substantially as an entirety to any Person, unless: 
 (a)
the entity formed by such consolidation or into which the Servicer is merged or the Person which acquires by conveyance or transfer the properties and assets of the Servicer substantially as an entirety shall be an entity organized and existing
under the laws of the United States of America or the District of Columbia and, if the Servicer is not the surviving entity, such entity shall assume, without the execution or filing of any paper or further act on the part of any of the parties
hereto, the performance of every covenant and obligation of the Servicer hereunder; and 
 (b) the Servicer has delivered to the Owner
Trustee and the Indenture Trustee and Officer’s Certificate and an Opinion of Counsel each stating that such consolidation, merger, conveyance or transfer will comply with this Section 7.03 and that all conditions precedent herein
provided for relating to such transaction have been complied with. 
 The Servicer shall provide notice of any merger, consolidation or
succession pursuant to this Section 7.03 to the Rating Agencies, the Owner Trustee, the Depositor and the Indenture Trustee. 

  
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 Section 7.04 Limitation on Liability of Servicer and Others. Neither the Servicer nor
any of the directors, officers, employees or agents of the Servicer shall be under any liability to the Issuing Entity, the Noteholders or the Certificateholders, except as provided under this Agreement, for any action taken or for refraining from
the taking of any action pursuant to this Agreement or for errors in judgment; provided, however, that this provision shall not protect the Servicer or any such person against any liability that would otherwise be imposed by
reason of willful misfeasance, bad faith or negligence in the performance of duties or by reason of reckless disregard of obligations and duties under this Agreement. The Servicer and any director, officer, employee 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 respecting any matters arising under this Agreement. 

Except as provided in this Agreement, the Servicer shall not be under any obligation to appear in, prosecute or defend any legal action that
shall not be incidental to its duties to service the Receivables in accordance with this Agreement and that in its opinion may involve it in any expense or liability; provided, however, that the Servicer may undertake any
reasonable action that it may deem necessary or desirable in respect of this Agreement and the Basic Documents and the rights and duties of the parties to this Agreement and the Basic Documents and the interests of the Certificateholders under this
Agreement and the Noteholders under the Indenture. 
 Section 7.05 World Omni Not To Resign as Servicer. Subject to the
provisions of Section 7.03, World Omni shall not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon a determination that the performance of its duties under this Agreement shall no
longer be permissible under applicable law and cannot be cured. Notice of any such determination permitting the resignation of World Omni shall be communicated to the Owner Trustee and the Indenture Trustee at the earliest practicable time (and, if
such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and any such determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Owner Trustee and the Indenture Trustee
concurrently with or promptly after such notice. No such resignation shall become effective until the Indenture Trustee or a successor Servicer shall have assumed the responsibilities and obligations of World Omni in accordance with
Section 8.02. 
 ARTICLE VIII 

DEFAULT 
 Section 8.01
Servicer Default. Any one of the following events shall constitute a default by the Servicer (a “Servicer Default”): 

(a) any failure by the Servicer to deliver to the Indenture Trustee for deposit in any of the Trust Accounts or distribution to the
Certificateholders any required payment or to direct the Indenture Trustee to make any required distributions therefrom, which failure continues unremedied for a period of five Business Days after written notice of such failure is received by the
Servicer from the Owner Trustee or the Indenture Trustee or after discovery of such failure by an officer of the Servicer; or 

  
 33 

 (b) failure by the Servicer or, if the Servicer is an affiliate of the Depositor, the Depositor,
as the case may be, duly to observe or to perform in any material respect any other covenants or agreements of the Servicer or the Depositor (as the case may be) set forth in this Agreement or any other Basic Document, which failure shall
(i) materially and adversely affect the rights of Certificateholders or Noteholders and (ii) continue unremedied for a period of 60 days after the date on which written notice of such failure, requiring the same to be remedied, shall have
been given (A) to the Servicer or the Depositor (as the case may be) by the Owner Trustee or the Indenture Trustee or (B) to the Servicer or the Depositor (as the case may be), and to the Owner Trustee and the Indenture Trustee by the
Holders of the Notes evidencing not less than 50% of the Outstanding Amount of the Controlling Securities and the Holders (as defined in the Trust Agreement) of Certificates evidencing not less than 50% of the percentage interest of the
Certificates; or 
 (c) the occurrence of an Insolvency Event with respect to the Servicer or, if the Servicer is an affiliate of the
Depositor, the Depositor. 
 Notwithstanding the foregoing, a delay in or failure of performance referred to under clause
(a) above for a period of ten Business Days or referred to under clause (b) for a period of 90 Business Days, 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 was caused by an act of God or other similar occurrence. Upon the occurrence of any such event, the Servicer shall not be relieved from using its best 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 Owner Trustee, the Noteholders and the Certificateholders prompt notice of such failure or delay by it, together with a description of its efforts to so
perform its obligations. 
 So long as the Servicer Default shall not have been remedied or stayed by the application of the above
paragraph, either the Indenture Trustee or the Holders of the Notes evidencing not less than 50% of the Outstanding Amount of the Controlling Securities, by notice then given in writing to the Servicer (and to the Indenture Trustee and the Owner
Trustee if given by the Noteholders) may terminate all the rights and obligations (other than the obligations set forth in Section 7.02 hereof) of the Servicer under this Agreement. On or after the receipt by the Servicer of such written
notice, all authority and power of the Servicer under this Agreement, whether with respect to the Notes, the Certificates or the Receivables or otherwise, shall, without further action, pass to and be vested in the Indenture Trustee or such
successor Servicer as may be appointed under Section 8.02; and, without limitation, the Indenture Trustee and the Owner Trustee are hereby authorized and empowered to execute and deliver, for the benefit of the predecessor Servicer, as
attorney-in-fact or otherwise, any and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and
endorsement of the Receivables and related documents, or otherwise. The predecessor Servicer shall cooperate with the successor Servicer, the Indenture Trustee and the Owner Trustee in effecting the termination of the responsibilities and rights of
the predecessor Servicer under this Agreement, including the transfer to the successor Servicer for administration by it of all cash amounts that shall at the time be held by the predecessor Servicer for deposit, or shall thereafter be received by
it with respect to any Receivable. Further, in such event, the Servicer shall use commercially reasonable efforts to effect the orderly and efficient transfer of the servicing of the Receivables 

  
 34 

 
to the successor Servicer, and as promptly as practicable, the Servicer shall provide to the successor Servicer a current computer tape containing all information from the Receivables Files
required for the proper servicing of the Receivables, together with the documentation containing any and all information necessary for the use of the tape. All reasonable and documented costs and expenses (including attorneys’ fees) incurred in
connection with transferring the Receivable Files to the successor Servicer and amending this Agreement to reflect such succession as Servicer pursuant to this section shall be paid by the predecessor Servicer upon presentation of reasonable
documentation of such costs and expenses. Upon receipt of notice of the occurrence of a Servicer Default, the Owner Trustee shall give notice thereof to the Depositor who promptly shall provide such notice to the Rating Agencies. 

Section 8.02 Appointment of Successor. 

(a) Upon the Servicer’s receipt of notice of termination pursuant to Section 8.01 or the Servicer’s resignation in
accordance with the terms of this Agreement, the predecessor Servicer shall continue to perform its functions as Servicer under this Agreement, in the case of termination, only until the date specified in such termination notice or, if no such date
is specified in a notice of termination, until receipt of such notice and, in the case of resignation, until the later of (i) the date 45 days from the delivery to the Owner Trustee and the Indenture Trustee of written notice of such
resignation (or written confirmation of such notice) in accordance with the terms of this Agreement and (ii) the date upon which the predecessor Servicer shall become unable to act as Servicer, as specified in the notice of resignation and
accompanying Opinion of Counsel. In the event of the Servicer’s termination hereunder, the Indenture Trustee shall appoint a successor Servicer, and the successor Servicer shall accept its appointment by a written assumption in form acceptable
to the Owner Trustee and the Indenture Trustee. In the event that a successor Servicer has not been appointed at the time when the predecessor Servicer has ceased to act as Servicer in accordance with this Section, the Indenture Trustee without
further action shall automatically be appointed the successor Servicer and the Indenture Trustee shall be entitled to the Servicing Fee. Notwithstanding the above, the Indenture Trustee shall, if it shall be legally unable so to act, appoint or
petition a court of competent jurisdiction to appoint any established institution, having a net worth of not less than $100,000,000 and whose regular business shall include the servicing of automotive receivables, as the successor to the Servicer
under this Agreement. 
 (b) Upon appointment, the successor Servicer (including the Indenture Trustee acting as successor Servicer) shall
be the successor in all respects to the predecessor Servicer and shall be subject to all the responsibilities, duties and liabilities arising thereafter relating thereto placed on the predecessor Servicer and shall be entitled to the Servicing Fee
and all the rights granted to the predecessor Servicer by the terms and provisions of this Agreement. 
 (c) The successor Servicer may not
resign unless it is prohibited from serving as such by law. 
 Section 8.03 Notification to Noteholders and Certificateholders.
Upon any termination of, or appointment of a successor to, the Servicer pursuant to this Article VIII, the Indenture Trustee shall give prompt written notice thereof to Noteholders, the Certificateholders and the Depositor who promptly shall
provide such notice to the Rating Agencies. 

  
 35 

 Section 8.04 Waiver of Past Defaults. The Holders of Notes evidencing not less than
50% of the Outstanding Amount of the Controlling Securities may, on behalf of all Noteholders, waive in writing any default by the Servicer in the performance of its obligations hereunder and its consequences, except a default in making any required
deposits to or payments from any of the Trust Accounts or to the Certificateholders in accordance with this Agreement. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Default arising therefrom shall be
deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereto. 

Section 8.05 Payment of Servicing Fees; Repayment of Advances. If the Servicer shall change, the predecessor Servicer shall be
entitled to (i) receive any accrued and unpaid Servicing Fees through the date of such Successor Servicer’s acceptance hereunder in accordance with Section 4.08 and (ii) reimbursement for Outstanding Advances pursuant to
Section 5.08 with respect to all Advances made by the predecessor Servicer. 
 ARTICLE IX 

TERMINATION 

Section 9.01 Optional Purchase of All Receivables. 

(a) On the Payment Date immediately following (and on each Payment Date thereafter) the last day of any Collection Period as of which the then
outstanding Pool Balance is 10% or less of the Aggregate Starting Principal Balance, the Servicer shall have the option to purchase the Owner Trust Estate, other than the Trust Accounts. To exercise such option, the Servicer shall deposit pursuant
to Section 5.05 in the Collection Account an amount equal to the aggregate Purchase Amount for the Receivables (including Defaulted Receivables), and shall succeed to all interests in and to the Trust. Notwithstanding the foregoing, the
Servicer shall not be permitted to exercise such option unless the amount to be deposited in the Collection Account pursuant to the preceding sentence is greater than or equal to the sum of the Outstanding Amount of the Notes, all accrued but unpaid
interest (including any overdue interest and premium) thereon and all amounts owing to the Swap Counterparty under the Interest Rate Swaps, if any. 

(b) As described in Article IX of the Trust Agreement, notice of any termination of the Trust shall be given by the Servicer to the
Owner Trustee and the Indenture Trustee as soon as practicable after the Servicer has received notice thereof. 
 (c) Following the
satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder other than Section 5.07(b) and the Owner
Trustee will succeed to the rights of, and assume the obligations of, the Indenture Trustee pursuant to this Agreement. 

  
 36 

 ARTICLE X 

MISCELLANEOUS 

Section 10.01 Amendment. 

(a) This Agreement may be amended by the Depositor, the Servicer and the Issuing Entity, with the consent of the Indenture Trustee, but
without the consent of any of the Noteholders or the Certificateholders, to cure any ambiguity or to correct or supplement any provisions in this Agreement or for the purpose of adding any provisions to or changing in any manner or eliminating any
of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders or the Certificateholders; provided that such amendments require: (i) satisfaction of the Rating Agency Condition and (ii) an
Officer’s Certificate of the Servicer stating that the amendment will not materially and adversely affect the interest of any Noteholder or Certificateholder. 

(b) This Agreement may also be amended from time to time by the Depositor, the Servicer and the Issuing Entity, with the consent of the
Indenture Trustee, the consent of Holders of Notes evidencing not less than 50% of the Outstanding Amount of the Controlling Securities (unless (i) the interests of the Noteholders are not affected materially and adversely, (ii) an
Officer’s Certificate of the Servicer to that effect is delivered to the Indenture Trustee by the Depositor and (iii) satisfaction of the Rating Agency Condition) and the consent of the Holders (as defined in the Trust Agreement) of
Certificates evidencing not less than 50% of the percentage interest of the Certificates (unless (i) the interests of the Certificateholders are not affected materially and adversely and (ii) an Officer’s Certificate of the Servicer
to that effect is delivered to the Owner Trustee by the Depositor) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the
Noteholders or the Certificateholders; provided, however, that no such amendment shall (a) change the date of payment of any installment of principal of or interest on any Note, or reduce the principal amount thereof, (b) change the
provisions of this Sale and Servicing Agreement relating to the application of collections on, or the proceeds of the sale of, the Trust Estate to payment of principal of or interest on the Notes or (c) reduce the consent percentages in this
sentence, without the consent of the Holders of all outstanding Notes and the Holders (as defined in the Trust Agreement) of all the outstanding Certificates affected thereby. 

(c) Promptly after the execution of any such amendment or consent, the Servicer shall furnish written notification of the substance of such
amendment or consent to each Certificateholder, the Indenture Trustee, the Owner Trustee and each of the Rating Agencies. 
 (d) It shall
not be necessary for the consent of Certificateholders or Noteholders pursuant to this Section to approve the particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof. 

(e) Prior to the execution of any amendment to this Agreement, the Owner Trustee, on behalf of the Issuing Entity, and the Indenture Trustee
shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and that all conditions precedent thereto have been

  
 37 

 
satisfied, and the Opinion of Counsel referred to in Section 10.02(h)(A). 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, as applicable, own rights, duties or immunities under this Agreement or otherwise. 

(f) Notwithstanding any other provision of this Agreement, no amendment to this Agreement shall be effective unless the Swap Counterparty, if
any, consents in writing to such amendment or such amendment will, as evidenced by a Materiality Opinion, have no material adverse effect on the interests of the Swap Counterparty, if any; provided, however, that if an amendment is
entered into pursuant to Section 10.01(a), in lieu of providing a Materiality Opinion, the Servicer may provide an Officers’ Certificate stating that such amendment will have no material adverse effect on the interests of the Swap
Counterparty, if any. 
 Section 10.02 Protection of Title to Trust. 

(a) The Depositor shall file such financing statements and cause to be filed such continuation statements, all in such manner and in such
places as may be required by law fully to preserve, maintain and protect the interest of the Issuing Entity and of the Indenture Trustee in the Receivables and in the proceeds thereof. The Depositor hereby authorizes the filing of such financing
statements and hereby ratifies any such financing statements filed prior to the date hereof. The Depositor shall deliver (or cause to be delivered) to the Owner Trustee and the Indenture Trustee file-stamped copies of, or filing receipts for, any
document filed as provided above, as soon as available following such filing. 
 (b) Neither the Depositor nor the Servicer shall change its
name, identity or corporate structure in any manner that could reasonably be expected to make any financing statement or continuation statement filed in accordance with paragraph (a) above seriously misleading within the meaning of
Section 9-506 of the UCC, unless it shall have given the Owner Trustee and the Indenture Trustee at least five days’ prior written notice thereof and shall have promptly filed appropriate amendments to all previously filed financing
statements or continuation statements. 
 (c) Each of the Depositor and the Servicer shall have an obligation to give the Owner Trustee and
the Indenture Trustee at least 60 days’ prior written notice of any relocation of its principal executive office or a change in its jurisdiction of organization if, as a result of such relocation or change in its jurisdiction of organization,
the applicable provisions of the UCC would require the filing of any amendment of any previously filed financing or continuation statement or of any new financing statement and shall promptly file any such amendment or new financing statement. The
Servicer shall at all times maintain each office from which it shall service Receivables, and its principal executive office, within the United States of America. 

(d) The Servicer shall maintain accounts and records as to each Receivable accurately and in sufficient detail to permit (i) the reader
thereof to know at any time the status of such Receivable, including payments and recoveries made and payments owing (and the nature of each) and (ii) reconciliation between payments or recoveries on (or with respect to) each Receivable and the
amounts from time to time deposited in the Collection Account in respect of such Receivable. 

  
 38 

 (e) The Servicer shall maintain its computer systems so that, within five (5) Business Days
from and after the time of sale under this Agreement of the Receivables, the Servicer’s master computer records (including any backup archives) that refer to a Receivable shall indicate clearly that such Receivable has been sold to the Issuing
Entity. 
 (f) If at any time the Depositor or the Servicer shall propose to sell, grant a security interest in, or otherwise transfer any
interest in automotive receivables to any prospective purchaser, lender or other transferee, the Servicer shall give to such prospective purchaser, lender or other transferee computer tapes, records or printouts (including any restored from backup
archives) that, if they shall refer in any manner whatsoever to any Receivable, shall indicate clearly that such Receivable has been sold and is owned by the Issuing Entity and has been pledged to the Indenture Trustee. 

(g) Upon request, the Servicer shall furnish to the Owner Trustee or to the Indenture Trustee, within five Business Days, a list of all
Receivables (by contract number and name of Obligor) then held as part of the Trust. 
 (h) The Servicer shall deliver to the Owner Trustee
and the Indenture Trustee: 
 (A) promptly after the execution and delivery of this Agreement, an Opinion of Counsel stating
that, in the opinion of such counsel, either (1) all financing statements and continuation statements have been filed that are necessary fully to preserve and protect the interest of the Trust and the Indenture Trustee in the Receivables, and
reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (2) no such action shall be necessary to preserve and protect such interest other than any action necessary (as of the date of
such opinion) to be taken in the following year to preserve and protect such interest; and 
 (B) on or before March 31,
in each calendar year, beginning in 2014, an Opinion of Counsel, dated as of a date during such 90-day period, stating that, in the opinion of such counsel, either (1) all financing statements and continuation statements have been filed that
are necessary fully to preserve and protect the interest of the Trust and the Indenture Trustee in the Receivables, and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (2) no
such action shall be necessary to preserve and protect such interest other than any action necessary (as of the date of such opinion) to be taken in the following year to preserve and protect such interest. 

Each Opinion of Counsel referred to in clause (A)(2) or (B)(2) above shall specify any action necessary (as of the date of such
opinion) to be taken in the following year to preserve and protect such interest. 
 (i) The Depositor shall, to the extent required by
applicable law, cause the Notes to be registered with the Commission pursuant to Section 12(b) or Section 12(g) of the Exchange Act within the time periods specified in such sections. 

  
 39 

 (j) The Servicer shall deliver to the Owner Trustee and the Indenture Trustee, prior to any
change in the location of the Receivable Files, an Opinion of Counsel stating that, in the opinion of such counsel, either (i) all financing statements and continuation statements have been filed that are necessary fully to preserve and protect
the interest of the Trust and the Indenture Trustee in the Receivables, and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (ii) no such action shall be necessary to preserve
and protect such interest. 
 Section 10.03 Notices. All demands, deliveries, notices, communications and instructions upon or
to the Depositor, the Servicer, the Owner Trustee, the Swap Counterparty, if any, the Indenture Trustee or the Rating Agencies under this Agreement shall be by facsimile, in writing, personally delivered or mailed by certified mail, return receipt
requested, and shall be deemed to have been duly given upon receipt or by electronic mail (if designated by such party to the other parties) (a) in the case of the Depositor, to World Omni Auto Receivables LLC, 190 Jim Moran Boulevard,
Deerfield Beach, Florida 33442, Telecopy: (954) 429-2685, Attention: Treasurer, (b) in the case of the Servicer, World Omni Financial Corp., 190 Jim Moran Boulevard, Deerfield Beach, Florida 33442, Telecopy: (954) 429-2685, Attention:
Treasurer, (c) in the case of the Issuing Entity or the Owner Trustee, at its Corporate Trust Office, Telecopy: (302) 453-4400, (d) in the case of the Indenture Trustee, at its Corporate Trust Office, Email: patricia.child@usbank.com,
(e) in the case of the Rating Agencies, to the Depositor who promptly shall post such notice to the website maintained by the Depositor for notifications to nationally recognized statistical rating organizations, and (f) in the case of the
Swap Counterparty, if any, to [RESERVED]; or, as to each of the foregoing, at such other address or electronic mail address as shall be designated by written notice to the other parties. 

Section 10.04 Assignment by the Depositor or the Servicer. Notwithstanding anything to the contrary contained herein, except as
provided in the remainder of this Section, as provided in Sections 6.04 and 7.03 herein and as provided in the provisions of this Agreement concerning the resignation of the Servicer, this Agreement may not be assigned by the Depositor
or the Servicer. 
 Section 10.05 Limitations on Rights of Others. The provisions of this Agreement are solely for the benefit
of the Depositor, the Servicer, the Issuing Entity, the Owner Trustee, the Certificateholders, the Indenture Trustee and the Noteholders, and nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any
legal or equitable right, remedy or claim in the Owner Trust Estate or under or in respect of this Agreement or any covenants, conditions or provisions contained herein, provided, however, that the Swap Counterparty, if any shall be a
third-party beneficiary to this Agreement, but only to the extent that it has rights specified herein or rights with respect to this Agreement specified under the Swap Counterparty Rights Agreement. 

Section 10.06 Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. 

  
 40 

 Section 10.07 Separate Counterparts. This Agreement may be executed by the parties
hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute but one and the same instrument. 

Section 10.08 Headings. The headings of the various Articles and Sections herein are for convenience of reference only and shall
not define or limit any of the terms or provisions hereof. 
 Section 10.09 Governing Law. This Agreement shall be construed in
accordance with the laws of the State of New York, without regard to any otherwise applicable conflict of law provisions, and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws. 

Section 10.10 Assignment by Issuing Entity. Each of World Omni and the Depositor hereby acknowledges and consents to any mortgage,
pledge, assignment and grant of a security interest by the Issuing Entity to the Indenture Trustee pursuant to the Indenture for the benefit of the Noteholders of all right, title and interest of the Issuing Entity in, to and under the Receivables
and/or the assignment of any or all of the Issuing Entity’s rights and obligations hereunder to the Indenture Trustee. 

Section 10.11 Nonpetition Covenants. 

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

(c) In the event that any Person (other than the Depositor) is deemed, under applicable law by any court or other authority of competent
jurisdiction, to have an interest in any assets of the Depositor or any Affiliate of the Depositor other than the beneficial interest in the Trust (“other assets”), the parties to this Agreement acknowledge and agree that:
(i) such Person’s claim is against the assets of the Trust and the Trust Estate only, (ii) such Person’s claim against any other assets shall be, and hereby is, subject and subordinate in all respects to the rights of other
Persons to whom rights in the other assets have been expressly granted 

  
 41 

 
(“entitled Persons”), including to the payment in full of all amounts owing to such entitled Persons, and (iii) the covenant set forth in the preceding clause
(ii) constitutes a “subordination agreement” within the meaning of, and subject to, Section 510(a) of the Bankruptcy Code. 

Section 10.12 Limitation of Liability of Owner Trustee and Indenture Trustee. 

(a) It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by the Trustee Bank,
not individually or personally but solely as Owner Trustee, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (ii) each of the representations, undertakings and agreements herein made on the part
of the Issuing Entity is made and intended not as personal representations, undertakings and agreements by the Trustee Bank, but is made and intended for the purpose of binding only the Issuing Entity, (iii) nothing herein contained shall be
construed as creating any liability on the Trustee Bank, individually or personally, to perform any covenant of the Issuing Entity, either expressed or implied, contained herein, all such liability of the Trustee Bank in its individual or personal
capacity, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto and (iv) under no circumstances shall the Trustee Bank be personally liable for the payment of any indebtedness or
expenses of the Issuing Entity under this Agreement or any other related documents. For all purposes of this Agreement, in the performance of its duties or obligations hereunder or in the performance of any duties or obligations of the Issuing
Entity hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles VI, VII and VIII of the Trust Agreement and the Administration Agreement. 

(b) Notwithstanding anything contained herein to the contrary, this Agreement has been accepted by U.S. Bank National Association, not in its
individual capacity but solely as Indenture Trustee and in no event shall U.S. Bank National Association have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuing Entity hereunder or in any of
the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuing Entity. 

Section 10.13 Regulation AB. The Depositor and the Servicer acknowledge and agree that the purpose of this Section 10.13 is
to facilitate compliance by the Depositor with the provisions of Regulation AB and the related rules and regulations of the Commission. The Depositor shall not exercise its right to request delivery of information or other performance under these
provisions other than in good faith, or for purposes other than compliance with the Securities Act, the Exchange Act and the rules and regulations of the Commission under the Securities Act and the Exchange Act. The Servicer acknowledges that
interpretations of the requirements of Regulation AB may change over time, whether due to interpretive guidance provided by the Commission or its staff, consensus among participants in the asset-backed securities markets, advice of counsel, or
otherwise, and the Servicer agrees to comply with all reasonable requests made by the Depositor in good faith for delivery of information and shall deliver (and shall cause each of its Reporting Subcontractors to deliver) to the Depositor all
information and certifications reasonably required by the Depositor to comply with its Exchange Act reporting obligations, including with respect to any of its predecessors or successors. The obligations of a Servicer to provide such information
shall survive the removal or termination of a Servicer as Servicer hereunder. 

  
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 Section 10.14 Notices to the Rating Agencies. If World Omni is no longer the Servicer, the
successor Servicer shall provide any required Rating Agency notices under this Agreement to the Depositor, who promptly shall provide such notices to the Rating Agencies. 

  
 43 

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

			
	WORLD OMNI AUTO RECEIVABLES TRUST 2013-B
	
	by: BNY MELLON TRUST OF DELAWARE,
not in its individual capacity
but solely as Owner Trustee,
		
	By:	 	 /s/ Kristine K. Gullo

	Name:	 	Kristine K. Gullo
	Title:	 	Vice President
	
	WORLD OMNI AUTO RECEIVABLES LLC,
as Depositor
		
	By:	 	 /s/ Charles M. Einhorn

	Name:	 	Charles M. Einhorn
	Title:	 	Assistant Treasurer
	
	WORLD OMNI FINANCIAL CORP., as Servicer
		
	By:	 	 /s/ Charles M. Einhorn

	Name:	 	Charles M. Einhorn
	Title:	 	Assistant Treasurer

  

			
	Acknowledged and agreed to as of the day and year first above written:
	
	U.S. BANK NATIONAL ASSOCIATION
not in its individual capacity but solely as
Indenture Trustee
		
	By:	 	 /s/ Patricia M. Child

	Name:	 	Patricia M. Child
	Title:	 	Vice President

  
 45 

 SCHEDULE A 

Schedule of Receivables 

Documents on file at: 

Kirkland & Ellis LLP 
 300
North LaSalle Street 
 Chicago, IL 60654 

  
 Sch. A 

 SCHEDULE B 

Location of Receivable Files 

World Omni Financial Corp. 
 6150
Omni Park Drive 
 Mobile, Alabama 36609 

and 
 RecordMax LLC 

2051 West I-65 Service Rd. N. 

Mobile, AL 36618 

  
 Sch. B 

 EXHIBIT A 

Form of Distribution Statement to Noteholders 

World Omni Financial Corp. 
 World Omni Auto Receivables Trust
2013-B Payment Date Statement to Noteholders 
 Total Available Funds 
  

			
	Class A-1 Notes:	  	($             per $1,000 original principal amount)
	Class A-2 Notes:	  	($             per $1,000 original principal amount)
	Class A-3 Notes:	  	($             per $1,000 original principal amount)
	Class A-4 Notes:	  	($             per $1,000 original principal amount)
	Class B Notes:	  	($             per $1,000 original principal amount)

 Outstanding Amount 
 Class A-1
Notes 
 Class A-2 Notes 
 Class A-3 Notes 

Class A-4 Notes 
 Class B Notes 

Note Pool Factor 
 Class A-1 Notes 

Class A-2 Notes 
 Class A-3 Notes 

Class A-4 Notes 
 Class B Notes 

Servicing Fee 
 Servicing Fee Per $1,000 Note 

Reserve Account Balance 

  
 Ex. A 

 EXHIBIT B 

Form of Servicer’s Certificate 

World Omni Financial Corp. 
 World Omni Auto Receivables Trust
2013-B Monthly Servicer’s Certificate 
 World Omni Auto Receivables Trust 2013-B 

Monthly Servicer Certificate 
 mm/dd/yyyy 

 

					
	 Dates Covered
	  	 	  	 
	 Collections Period
	  		  	
	 Interest Accrual Period
	  		  	
	 30/360 Days
	  		  	
	 Actual/360 Days
	  		  	
	 Distribution Date
	  		  	
			
	 Collateral Pool Balance Data
	  	$ Amount	  	# of Accounts
	 Pool Balance at mm/dd/yy
	  		  	
	 Yield Supplement Overcollateralization Amount at mm/dd/yy
	  		  	
	 Receivables Balance at mm/dd/yy
	  		  	
	 Principal Payments
	  		  	
	 Defaulted Receivables
	  		  	
	 Repurchased Accounts
	  		  	
	 Yield Supplement Overcollateralization Amount at mm/dd/yy
	  		  	
		  	  
	  	  

	 Pool Balance at mm/dd/yy
	  		  	
		  	  
	  	  

			
	 Pool Statistics
	  	$ Amount	  	# of Accounts
	 Initial Receivables Balance
	  		  	
	 Pre-Funding Contracts added mm/dd/yy
	  		  	
			
	 Delinquent Receivables:
	  		  	
	 Past Due 31-60 days
	  		  	
	 Past Due 61-90 days
	  		  	
	 Past Due 91 + days
	  		  	
		  	  
	  	  

	 Total
	  		  	
		  	  
	  	  

			
	 Total 31+ Delinquent as % Ending Pool Balance
	  		  	
			
	 Recoveries
	  		  	
			
	 Aggregate Net Losses - mm/yyyy
	  		  	
			
	 Overcollateralization Target Amount
	  		  	
	 Actual Overcollateralization
	  		  	
	 Weighted Average APR
	  		  	
	 Weighted Average APR, Yield Adjusted
	  		  	
	 Weighted Average Remaining Term
	  		  	

  
 Ex. B-1 

			
	 Flow of Funds
	  	$ Amount
		
	 Collections
	  	
	 Advances
	  	
	 Investment Earnings on Cash Accounts
	  	
	 Servicing Fee
	  	
	 Interest Rate Swap Receipt (if any)
	  	
		  	  

	 Available Funds
	  	
		  	  

		
	 Distributions of Available Funds
	  	
	 (1) Monthly Swap Payment Amount (if any)
	  	
	 (2) Class A Interest
	  	
	 (3) Noteholders’ First Priority Principal Distributable Amount
	  	
	 (4) Class B Interest
	  	
	 (5) Noteholders’ Second Priority Principal Distributable Amount
	  	
	 (6) Required Reserve Account
	  	
	 (7) Noteholders’ Principal Distributable Amount
	  	
	 (8) Distribution to Certificateholders
	  	
		
	 Total Distributions of Available Funds
	  	
		
	 Servicing Fee
	  	
	 Unpaid Servicing Fee
	  	

  
 Ex. B-2 

			
	 Note Balances & Note Factors
	  	$ Amount
		
	 Original Class A
	  	
	 Original Class B
	  	
		
	 Total Class A & B
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Principal Paid
	  	
	 Note Balance @ mm/dd/yy
	  	
		
	 Class A-1
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Principal Paid
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Note Factor @ mm/dd/yy
	  	
		
	 Class A-2
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Principal Paid
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Note Factor @ mm/dd/yy
	  	
		
	 Class A-3
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Principal Paid
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Note Factor @ mm/dd/yy
	  	
		
	 Class A-4
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Principal Paid
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Note Factor @ mm/dd/yy
	  	
		
	 Class B
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Principal Paid
	  	
	 Note Balance @ mm/dd/yy
	  	
	 Note Factor @ mm/dd/yy
	  	

  
 Ex. B-3 

			
	 Interest & Principal Payments
	  	$ Amount
		
	 Total Interest Paid
	  	
	 Total Principal Paid
	  	
		  	  

	 Total Paid
	  	
		  	  

		
	 Class A-1
	  	
	 Coupon
	  	
	 Interest Paid
	  	
	 Principal Paid
	  	
		  	  

	 Total Paid to A-1 Holders
	  	
		  	  

		
	 Class A-2
	  	
	 Coupon
	  	
	 Interest Paid
	  	
	 Principal Paid
	  	
		  	  

	 Total Paid to A-2 Holders
	  	
		  	  

		
	 Class A-3
	  	
	 Coupon
	  	
	 Interest Paid
	  	
	 Principal Paid
	  	
		  	  

	 Total Paid to A-3 Holders
	  	
		  	  

		
	 Class A-4
	  	
	 Coupon
	  	
	 Interest Paid
	  	
	 Principal Paid
	  	
		  	  

	 Total Paid to A-4 Holders
	  	
		  	  

		
	 Class B
	  	
	 Coupon
	  	
	 Interest Paid
	  	
	 Principal Paid
	  	
		  	  

	 Total Paid to B Holders
	  	
		  	  

  
 Ex. B-4 

			
	 Distribution per $1,000 of Notes
	  	Total
		
	 Total Interest Distribution Amount
	  	
	 Total Interest Carryover Shortfall
	  	
	 Total Principal Distribution Amount
	  	
		  	  

	 Total Distribution Amount
	  	
		  	  

		
	 A-1 Interest Distribution Amount
	  	
	 A-1 Interest Carryover Shortfall
	  	
	 A-1 Principal Distribution Amount
	  	
		  	  

	 Total A-1 Distribution Amount
	  	
		  	  

		
	 A-2 Interest Distribution Amount
	  	
	 A-2 Interest Carryover Shortfall
	  	
	 A-2 Principal Distribution Amount
	  	
		  	  

	 Total A-2 Distribution Amount
	  	
		  	  

		
	 A-3 Interest Distribution Amount
	  	
	 A-3 Interest Carryover Shortfall
	  	
	 A-3 Principal Distribution Amount
	  	
		  	  

	 Total A-3 Distribution Amount
	  	
		  	  

		
	 A-4 Interest Distribution Amount
	  	
	 A-4 Interest Carryover Shortfall
	  	
	 A-4 Principal Distribution Amount
	  	
		  	  

	 Total A-4 Distribution Amount
	  	
		  	  

		
	 B Interest Distribution Amount
	  	
	 B Interest Carryover Shortfall
	  	
	 B Principal Distribution Amount
	  	
		  	  

	 Total B Distribution Amount
	  	
		  	  

		
	 Noteholders’ First Priority Principal Distributable Amount
	  	
	 Noteholders’ Second Priority Principal Distributable Amount
	  	
	 Noteholders’ Principal Distributable Amount
	  	

  
 Ex. B-5 

			
	 Account Balances
	  	$ Amount
		
	 Advances
	  	
	 Balance as of mm/dd/yy
	  	
	 Balance as of mm/dd/yy
	  	
	 Change
	  	
		
	 Reserve Account
	  	
	 Balance as of mm/dd/yy
	  	
	 Investment Earnings
	  	
	 Investment Earnings paid
	  	
	 Deposit (Withdrawal)
	  	
	 Balance as of mm/dd/yy
	  	
	 Change
	  	
		
	 Required Reserve Amount
	  	

  
 Ex. B-6 

 EXHIBIT C 

Form of Initial SSA Assignment 

As of October 30, 2013, for value received, in accordance with the Sale and Servicing Agreement, dated as of the date hereof (the
“Sale and Servicing Agreement”), among World Omni Auto Receivables LLC, a Delaware limited liability company (the “Depositor”), World Omni Auto Receivables Trust 2013-B (the “Issuing Entity”) and
World Omni Financial Corp., a Florida corporation, (the “Servicer”), as acknowledged and accepted by U.S. Bank National Association, as Indenture Trustee, the Depositor does hereby sell, assign, transfer and otherwise convey unto
the Issuing Entity, without recourse, all right, title and interest of the Depositor in, to and under (a) the Initial Receivables identified on the Schedule of Receivables attached hereto having an aggregate Starting Principal Balance of
$791,491,997.61 and all monies received thereon and in respect thereof after the Initial Cutoff Date; (b) the security interests in, and the liens on, the Financed Vehicles granted by Obligors in connection with the Initial Receivables and any
other interest of the Depositor in such Financed Vehicles; (c) any proceeds with respect to the Initial Receivables from claims on any physical damage, credit life or disability insurance policies covering such Financed Vehicles or Obligors;
(d) any Financed Vehicle that shall have secured an Initial Receivable and shall have been acquired by or on behalf of the Depositor, the Servicer or the Trust; (e) all funds on deposit in, and “financial assets” (as such term is
defined in the Uniform Commercial Code as from time to time in effect) credited to, the Trust Accounts, including the Reserve Account, the Negative Carry Account, if any, and the Pre-Funding Account, if any, from time to time, including the Reserve
Account Initial Deposit, any Reserve Account Subsequent Transfer Deposit, the Negative Carry Account Initial Deposit, if any, and the Pre-Funding Account Initial Deposit, if applicable, and in all investments and proceeds thereof (including all
income thereon); (f) the Receivables Purchase Agreement; (g) all “accounts,” “chattel paper,” “general intangibles” and “promissory notes” (as such terms are defined in the Uniform Commercial Code as
from time to time in effect) constituting or relating to the foregoing; and (h) the proceeds of any and all of the foregoing (including Liquidation Proceeds); provided, however, that the foregoing items
(a) through (h) shall not include the Notes and Certificates. 
 The foregoing sale does not constitute and is not
intended to result in any assumption by the Issuing Entity of any obligation of the undersigned to the Obligors, Dealers, insurers or any other Person in connection with the Initial Receivables, the agreements with Dealers, any insurance policies or
any agreement or instrument relating to any of them. 
 This Initial SSA Assignment is made pursuant to and upon the representations,
warranties and agreements on the part of the undersigned contained in the Sale and Servicing Agreement and is to be governed by the Sale and Servicing Agreement. 

Capitalized terms used herein and not otherwise defined shall have the meaning assigned to them in the Sale and Servicing Agreement. 

* * * * * 

  
 Ex. C-1 

 IN WITNESS WHEREOF, the undersigned has caused this Initial SSA Assignment to be duly executed as
of the day and year first above written. 
  

			
	WORLD OMNI AUTO RECEIVABLES LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 Ex. C-2 

 EXHIBIT D 

Form of Subsequent Transfer SSA Assignment 

As of                     , for value
received, in accordance with the Sale and Servicing Agreement, dated as of October 30, 2013 (the “Sale and Servicing Agreement”), among World Omni Auto Receivables LLC, a Delaware limited liability company (the
“Depositor”), World Omni Auto Receivables Trust 2013-B (the “Issuing Entity”) and World Omni Financial Corp., a Florida corporation, (the “Servicer”), as acknowledged and accepted by U.S. Bank
National Association, as Indenture Trustee, the Depositor does hereby sell, assign, transfer and otherwise convey unto the Issuing Entity, without recourse, all right, title and interest of the Depositor in, to and under (a) the
Subsequent Receivables identified on the Schedule of Receivables attached hereto having an aggregate Starting Principal Balance of $         and all monies received thereon and in respect thereof after the
close of business on             , 20    ; (b) the security interests in, and the liens on, the Financed Vehicles granted by Obligors in connection with such
Subsequent Receivables and any other interest of the Depositor in such Financed Vehicles; (c) any proceeds with respect to the Subsequent Receivables from claims on any physical damage, credit life or disability insurance policies covering such
Financed Vehicles or Obligors; (d) any Financed Vehicle that shall have secured such Subsequent Receivable and shall have been acquired by or on behalf of the Depositor, the Servicer or the Trust; (e) all “accounts,”
“chattel paper,” “general intangibles” and “promissory notes” (as such terms are defined in the Uniform Commercial Code as from time to time in effect) constituting or relating to the foregoing; and (f) the
proceeds of any and all of the foregoing (including Liquidation Proceeds); provided, however, that the foregoing items (a) through (f) shall not include the Notes and Certificates. 

The foregoing sale does not constitute and is not intended to result in any assumption by the Issuing Entity of any obligation of the
undersigned to the Obligors, Dealers, insurers or any other Person in connection with such Subsequent Receivables, the agreements with Dealers, any insurance policies or any agreement or instrument relating to any of them. 

This Subsequent Transfer SSA Assignment is made pursuant to and upon the representations, warranties and agreements on the part of the
undersigned contained in the Sale and Servicing Agreement and is to be governed by the Sale and Servicing Agreement. 
 Capitalized terms
used herein and not otherwise defined shall have the meaning assigned to them in the Sale and Servicing Agreement. 
 * * * * * 

  
 Ex. D-1 

 IN WITNESS WHEREOF, the undersigned has caused this Subsequent Transfer SSA Assignment to be duly
executed as the day and year first above written. 
  

			
	WORLD OMNI AUTO RECEIVABLES LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 Ex. D-2 

 APPENDIX A 

PART I - DEFINITIONS 
 All terms used in
this Appendix shall have the defined meanings set forth in this Part I when used in the Basic Documents, unless otherwise defined therein. 

“Accredited Investor” has the meaning assigned in Section 2.04(e) of the Indenture. 

“Act of the Noteholders” has the meaning specified in Section 11.03(a) of the Indenture. 

“Administration Agreement” means the Administration Agreement, dated as of the Closing Date, among the Administrator, the
Issuing Entity, the Depositor and the Indenture Trustee, as amended from time to time. 
 “Administrator” means World Omni,
or any successor Administrator under the Administration Agreement. 
 “Advance” has the meaning assigned in
Section 5.04 of the Sale and Servicing Agreement. 
 “Affiliate” means, with respect to any specified Person,
any other Person controlling or controlled by or under common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means the power to direct the management and policies of
such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Aggregate Starting Principal Balance” means as of any date of determination, the aggregate of the Starting Principal
Balances of the Initial Receivables as of the Initial Cutoff Date, which is equal to the Initial Aggregate Starting Principal Balance, plus the aggregate of the Starting Principal Balances, as of each of the related Subsequent Cutoff Dates, for all
Subsequent Receivables, if any, sold to the Issuing Entity on or prior to such date of determination. 
 “Amount Financed”
means, with respect to a Receivable, the amount advanced under the Receivable toward the purchase price of the Financed Vehicle, warranty or insurance premium and any related costs. 

“Annual Percentage Rate” or “APR” of a Receivable means the annual rate of finance charges stated in the
related Contract. 
 “Assignment” shall mean any RPA Assignment or SSA Assignment. 

“Authorized Officer” means, with respect to the Owner Trustee, any officer of the Owner Trustee or other Person who is
authorized to act for the Owner Trustee in matters relating to the Issuing Entity (including any agent of the Owner Trustee acting under a power of attorney) and, with respect to the Issuing Entity, any Authorized Officer of the Owner Trustee or, so
long as the Administration Agreement is in effect, the president, any vice president, treasurer, assistant 

  
 App. A-1 

 
treasurer, secretary or assistant secretary of the Administrator who is authorized to act for the Administrator in matters relating to the Issuing Entity and to be acted upon by the Administrator
pursuant to the Administration Agreement and who is identified on the list of Authorized 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). 
 “Available Funds” means, with respect to any Payment Date, (1) the sum of the following amounts,
without duplication, with respect to the Receivables in respect of the Collection Period preceding such Payment Date: (a) all collections on Receivables, (b) Advances, (c) all Liquidation Proceeds attributable to the Receivables that
became Liquidated Receivables during such Collection Period in accordance with the Servicer’s customary servicing procedures and all Recoveries, (d) the Purchase Amount of each Receivable that became a Purchased Receivable as of the last
day of the related Collection Period, (e) partial prepayments relating to refunds of warranty or insurance financed by the respective Obligor thereon as part of the original contract and only to the extent not included under clause
(a) above, (f) amounts on deposit in the Reserve Account after giving effect to all other deposits and withdrawals thereto or therefrom on the Payment Date relating to such Collection Period in excess of the Required Reserve Amount,
(g) amounts on deposit in the Negative Carry Account, if any, after giving effect to all other deposits and withdrawals thereto and therefrom on the Payment Date relating to such Collection Period in excess of the Required Negative Carry
Account Balance, (h) Investment Earnings for the related Payment Date, (i) any Collection Account Redeposits for the related Payment Date, (j) all amounts received from the Indenture Trustee pursuant to Section 5.04 of the
Indenture and (k) the net amount paid to the Trust under the Interest Rate Swaps since the preceding Payment Date, if any, minus (2) the Servicing Fee, reimbursements for Advances and other amounts payable to the Servicer pursuant
to Section 4.08 of the Sale and Servicing Agreement for the related Payment Date (unless the Servicer elects to defer part or all of such fee); provided, however, that in calculating Available Funds all payments and
proceeds (including Liquidation Proceeds) of any Purchased Receivables the Purchased Amount of which has been included in Available Funds in a prior Collection Period shall be excluded. Available Funds for each Payment Date will not include, and the
amount of Available Funds will not be reduced by, the amount of any Supplemental Servicing Fees. 
 “Available Purchase
Amount” means as of any Subsequent Transfer Date, the excess, if any, of $[RESERVED] over the Aggregate Starting Principal Balance on (and before giving effect to any transfers of Receivables on) such Subsequent Transfer Date. 

“Basic Documents” means the Indenture, the Certificate of Trust, the Trust Agreement, the Sale and Servicing Agreement, the
Receivables Purchase Agreement, the Administration Agreement, the Note Depository Agreement, the Interest Rate Swaps, if any, the Swap Counterparty Rights Agreement, if any, and other documents and certificates delivered in connection therewith.

 “Book-Entry Notes” means a beneficial interest in the Class A-1 Notes,
Class A-2 Notes, Class A-3 Notes, Class A-4 Notes and Class B Notes, ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 2.11 of the Indenture. 

  
 App. A-2 

 “Business Day” means any day other than (i) a Saturday or a Sunday or
(ii) a day on which banking institutions or trust companies in the State of Florida, the State of New York, the State of Delaware, the states in which the servicing offices of the Servicer are located or the state in which the Corporate Trust
Office is located are required or authorized by law, regulation or executive order to be closed. 
 “Certificate of Trust”
shall mean the Certificate of Trust in the form of Exhibit B to the Trust Agreement filed for the Trust pursuant to Section 3810(a) of the Delaware Statutory Trust Act. 

“Certificateholder” shall mean a Person in whose name a Trust Certificate is registered in the Certificate Register. 

“Certificate Register” and “Certificate Registrar” shall mean the register mentioned in and the registrar
appointed pursuant to Section 3.04 of the Trust Agreement. 
 “Certificates” means the Trust Certificates
issued by the Issuing Entity pursuant to the Trust Agreement in form and substance attached as Exhibit A thereto. 

“Class” means any one of the classes of Notes. 

“Class A Noteholders’ Interest Carryover Shortfall” means, with respect to any Payment Date, the excess of the
Class A Noteholders’ Interest Distributable Amount for the preceding Payment Date, over the amount in respect of interest that was actually paid on the Class A Notes on such preceding Payment Date, plus interest on the amount of
interest due but not paid to holders of the Class A Notes on the preceding Payment Date, to the extent permitted by law, at the respective interest rates borne by each Class of the Class A Notes for the related Interest Accrual Period.

 “Class A Noteholders’ Interest Distributable Amount” means, with respect to any Payment Date, the sum of the
Class A Noteholders’ Monthly Interest Distributable Amount for such Payment Date and the Class A Noteholders’ Interest Carryover Shortfall for such Payment Date. 

“Class A Noteholders’ Monthly Interest Distributable Amount” means, with respect to any Payment Date, interest accrued
for the related Interest Accrual Period on each class of Class A Notes at the respective interest rate for such Class on the Outstanding Amount of the Notes of such Class on the immediately preceding Payment Date (or, in the case of the initial
Payment Date, on the Closing Date), after giving effect to all payments of principal to the Noteholders of such Class on or prior to such preceding Payment Date. For all purposes of this Agreement and the Basic Documents, interest with respect to
the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The interest due on these classes of notes on each Payment Date will be the product
of: 
  

	 	•	 	the Outstanding Principal Balance of the related Class of Notes; 

  

	 	•	 	the related Interest Rate; and 

  

	 	•	 	30 (or, in the case of the initial Payment Date, 15) divided by 360. 

  
 App. A-3 

 Interest due on the initial Payment Date will be $47,000.00 for the Class A-2 Notes,
$81,270.83 for the Class A-3 Notes and $60,321.80 for the Class A-4 Notes. 
 Interest with respect to the Class A-1 Notes
shall be computed on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The interest due on these classes of notes on each Payment Date will be the product of: 

 

	 	•	 	the Outstanding Principal Balance of the related Class of Notes; 

  

	 	•	 	the related Interest Rate; and 

  

	 	•	 	the actual number of days since the previous Payment Date (or, in the case of the initial Payment Date, since the Closing Date) divided by 360. 

Interest due on the initial Payment Date will be $15,893.33 for the Class A-1 Notes. 

“Class A Notes” means the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4
Notes. 
 “Class A-1 Final Scheduled Payment Date” means the November 2014 Payment Date. 

“Class A-1 Interest Rate” means 0.24000% per annum computed on the basis of the actual number of days elapsed and
on a 360 day year. 
 “Class A-1 Noteholder” means the Person in whose name a Class A-1 Note is registered
in the Note Register. 
 “Class A-1 Notes” means the Class A-1 0.24000% Asset-Backed Notes, substantially in the
form of Exhibit A-1 to the Indenture. 
 “Class A-2 Final Scheduled Payment Date” means the November 2016
Payment Date. 
 “Class A-2 Interest Rate” means 0.48% per annum computed on the basis of a 360 day year of
twelve 30 day months. 
 “Class A-2 Noteholder” means the Person in whose name a Class A-2 Note is registered in
the Note Register. 
 “Class A-2 Notes” means the Class A-2 0.48% Asset-Backed Notes, substantially in the form of
Exhibit A-2 to the Indenture. 
 “Class A-3 Final Scheduled Payment Date” means the August 2018 Payment
Date. 
 “Class A-3 Interest Rate” means 0.83% per annum computed on the basis of a 360 day year of twelve 30 day
months. 

  
 App. A-4 

 “Class A-3 Noteholder” means the Person in whose name a Class A-3 Note
is registered in the Note Register. 
 “Class A-3 Notes” means the Class A-3 0.83% Asset-Backed Notes, substantially
in the form of Exhibit A-3 to the Indenture. 
 “Class A-4 Final Scheduled Payment Date” means the January
2020 Payment Date. 
 “Class A-4 Interest Rate” means 1.32% per annum computed on the basis of a 360 day year of
twelve 30 day months. 
 “Class A-4 Noteholder” means the Person in whose name a Class A-4 Note is registered in
the Note Register. 
 “Class A-4 Notes” means the Class A-4 1.32% Asset-Backed Notes, substantially in the form of
Exhibit A-4 to the Indenture. 
 “Class B Final Scheduled Payment Date” means the August 2020 Payment Date.

 “Class B Interest Rate” means 1.72% per annum computed on the basis of a 360 day year of twelve 30 day months. 

“Class B Noteholder” means the Person in whose name a Class B Note is registered in the Note Register. 

“Class B Noteholders’ Interest Carryover Shortfall” means, with respect to any Payment Date, the excess of the Class B
Noteholders’ Interest Distributable Amount for the preceding Payment Date, over the amount in respect of interest that was actually paid on the Class B Notes on such preceding Payment Date, plus interest on the amount of interest due but not
paid to holders of the Class B Notes on the preceding Payment Date, to the extent permitted by law, at the respective interest rates borne by such Class of the Notes for the related Interest Accrual Period. 

“Class B Noteholders’ Interest Distributable Amount” means, with respect to any Payment Date, the sum of the Class B
Noteholders’ Monthly Interest Distributable Amount for such Payment Date and the Class B Noteholders’ Interest Carryover Shortfall for such Payment Date. 

“Class B Noteholders’ Monthly Interest Distributable Amount” means, with respect to any Payment Date, interest accrued
for the related Interest Accrual Period on the Class B Notes at the interest rate for such Class on the Outstanding Amount of the Notes of such Class on the immediately preceding Payment Date (or, in the case of the initial Payment Date, on the
Closing Date), after giving effect to all payments of principal to the Noteholders of such Class on or prior to such preceding Payment Date. For all purposes of this Agreement and the Basic Documents, interest with respect to all Class B Notes shall
be computed on the basis of a 360-day year consisting of twelve 30-day months. The interest due on these classes of notes on each Payment Date will be the product of: 
  

	 	•	 	the Outstanding Principal Balance of the related Class of Notes; 

  
 App. A-5 

	 	•	 	the related Interest Rate; and 

  

	 	•	 	30 (or, in the case of the initial Payment Date, 15) divided by 360. 

 Interest due on the
initial Payment Date will be $11,186.45 for the Class B Notes. 
 “Class B Notes” means the Class B 1.72% Asset-Backed
Notes substantially in the form of Exhibit B to the Indenture. 
 “Clearing Agency” means an organization registered
as a “clearing agency” pursuant to Section 17A of the Exchange Act. 
 “Clearing Agency Participant” means a
broker, dealer, bank, other financial institution or other Person for whom from time to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with the Clearing Agency. 

“Closing Date” shall mean October 30, 2013. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time, and Treasury Regulations promulgated
thereunder. 
 “Collateral” has the meaning specified in the Granting Clause of the Indenture. 

“Collection Account” means the account designated as such, established and maintained pursuant to
Section 5.01(a)(i) of the Sale and Servicing Agreement. 
 “Collection Account Redeposits” means, with respect
to any Payment Date, amounts that would have been distributed to the Certificateholders on the prior Payment Date but for the direction of the Certificateholders causing such amounts to remain on deposit in the Collection Account. 

“Collection Period” means, with respect to any Payment Date, the period from and including the first day of the calendar
month immediately preceding the calendar month in which such Payment Date occurs (or with respect to the initial Payment Date, from but excluding the Initial Cutoff Date) to and including the last day of the calendar month immediately preceding the
calendar month in which such Payment Date occurs. Any amount stated as of the last day of a Collection Period shall give effect to the following applications as determined as of the close of business on such last day: (1) all applications of
collections and (2) all distributions to be made on the related Payment Date. 
 “Collections” shall mean all amounts
collected by the Servicer (from whatever source) on or with respect to the Receivables. 
 “Commission” means the U.S.
Securities and Exchange Commission. 
 “Contract” means a motor vehicle retail installment sale contract. 

  
 App. A-6 

 “Controlling Securities” means (i) the Class A Notes so long as the
Class A Notes are outstanding and (ii) after the Class A Notes are no longer outstanding, the Class B Notes so long as the Class B Notes are outstanding. 

“Corporate Trust Office” means: 

(a) with respect to the Indenture Trustee, (i) solely for purposes of transfer, exchange or surrender of the Notes, 60 Livingston Avenue,
EP-MN-WS2N, St. Paul, Minnesota 55107, Attention: Transfer Unit, and (ii) the principal office of the Indenture Trustee at which at any particular time the Indenture shall be administered, which office at the date of execution of the Indenture
is located at U.S. Bank National Association, 190 South LaSalle Street, 7th floor, Chicago, Illinois 60603, Attention: Corporate Trust Services, WOART 2012-B, Telecopy: (312) 332-7996, or at such other address or electronic mail address as the
Indenture Trustee may designate from time to time by notice to the Noteholders and the Issuing Entity, or the principal corporate trust office of any successor Indenture Trustee at the address or electronic mail address designated by such successor
Indenture Trustee by notice to the Noteholders and the Issuing Entity; and 
 (b) with respect to the Owner Trustee, the corporate trust
office of the Owner Trustee located at BNY Mellon Trust of Delaware, 100 White Clay Center, Suite 102, Newark, Delaware 19711, Telecopy: (302) 453-4400, Attention: Corporate Trust Administration, or at such other address or electronic mail
address as the Owner Trustee may designate by notice to the Certificateholders and the Depositor, or the principal corporate trust office of any successor Owner Trustee at the address or electronic mail address designated by such successor Owner
Trustee by notice to the Certificateholders and the Depositor. 
 “Cutoff Date” means with respect to an Initial
Receivable, the Initial Cutoff Date, and with respect to a Subsequent Receivable, the related Subsequent Cutoff Date. 

“Dealer” means the dealer who sold a Financed Vehicle and who originated and assigned the related Receivable to World Omni
under an existing agreement between such dealer and World Omni. 
 “Default” means any occurrence that is, or with notice
or the lapse of time or both would become, an Event of Default. 
 “Defaulted Receivable” means a Receivable as to which
(a) $40 or more of a monthly payment is 120 or more days past due and the Servicer has not repossessed the related Financed Vehicle or (b) the Servicer has, in accordance with its customary servicing procedures, determined that eventual
payment in full is unlikely and has either repossessed and liquidated the related Financed Vehicle or repossessed and held the related Financed Vehicle in its repossession inventory for 45 days, whichever occurs first. The Principal Balance of any
Receivable that becomes a Defaulted Receivable will be deemed to be zero as of the date it becomes a Defaulted Receivable. 

“Definitive Notes” has the meaning specified in Section 2.11 of the Indenture. 

  
 App. A-7 

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

(a) with respect to bankers’ acceptances, commercial paper, negotiable certificates of deposit and other obligations that
constitute “instruments” within the meaning of Section 9-102(a)(47) of the UCC and are susceptible of physical delivery, transfer thereof to the Indenture Trustee or its nominee or custodian by physical delivery to the Indenture
Trustee or its nominee or custodian endorsed to, or registered in the name of, the Indenture Trustee or its nominee or custodian or endorsed in blank, and, with respect to a certificated security (as defined in Section 8-102 of the UCC)
transfer thereof (i) by delivery of such certificated security endorsed to, or registered in the name of, the Indenture Trustee or its nominee or custodian or endorsed in blank to a financial intermediary (as defined in Section 8-313 of
the UCC) and the making by such financial intermediary of entries on its books and records identifying such certificated securities as belonging to the Indenture Trustee or its nominee or custodian and the sending by such financial intermediary of a
confirmation of the purchase of such certificated security by the Indenture Trustee or its nominee or custodian, or (ii) by delivery thereof to a “clearing corporation” (as defined in Section 8-102(3) of the UCC) and the making
by such clearing corporation of appropriate entries on its books reducing the appropriate securities account of the transferor and increasing the appropriate securities account of a financial intermediary by the amount of such certificated security,
the identification by the clearing corporation of the certificated securities for the sole and exclusive account of the financial intermediary, the maintenance of such certificated securities by such clearing corporation or a “custodian
bank” (as defined in Section 8-102(4) of the UCC) or the nominee of either subject to the clearing corporation’s exclusive control, the sending of a confirmation by the financial intermediary of the purchase by the Indenture Trustee
or its nominee or custodian of such securities and the making by such financial intermediary of entries on its books and records identifying such certificated securities as belonging to the Indenture Trustee or its nominee or custodian (all of the
foregoing, “Physical Property”), and, in any event, any such Physical Property in registered form shall be in the name of the Indenture Trustee or its nominee or custodian; and such additional or alternative procedures as may
hereafter become appropriate to effect the complete transfer of ownership of any such Trust Account Property (as defined herein) to the Indenture Trustee or its nominee or custodian, consistent with changes in applicable law or regulations or the
interpretation thereof; 
 (b) with respect to any securities issued by the U.S. Treasury, the Federal Home Loan Mortgage
Corporation or by the Federal National Mortgage Association that are book-entry securities held through the Federal Reserve System pursuant to Federal book-entry regulations, the following procedures, all in accordance with applicable law, including
applicable Federal regulations and Articles 8 and 9 of the UCC: book-entry registration of such Trust Account Property to an appropriate book-entry account maintained with a Federal Reserve Bank by a financial intermediary which is also a
“depository” pursuant to applicable Federal regulations and issuance by such financial intermediary of a deposit advice or other written confirmation of such book-entry registration to the Indenture Trustee or its nominee or custodian of
the purchase by the Indenture Trustee or its nominee or custodian of such book-entry securities; the identification by the Federal Reserve Bank of such book-entry securities on its record 

  
 App. A-8 

 
being credited to the financial intermediary’s Participant’s securities account; the making by such financial intermediary of entries in its books and records identifying such
book-entry security held through the Federal Reserve System pursuant to Federal book-entry regulations as being credited to the Indenture Trustee’s securities account or custodian’s securities account and indicating that such custodian
holds such Trust Account Property solely as agent for the Indenture Trustee or its nominee or custodian; and such additional or alternative procedures as may hereafter become appropriate to effect complete transfer of ownership of any such Trust
Account Property to the Indenture Trustee or its nominee or custodian, consistent with changes in applicable law or regulations or the interpretation thereof; and 

(c) with respect to any item of Trust Account Property that is an uncertificated security under Article 8 of the UCC and that
is not governed by clause (b) above, registration on the books and records of the issuer thereof in the name of the financial intermediary, the sending of a confirmation by the financial intermediary of the purchase by the Indenture Trustee or
its nominee or custodian of such uncertificated security, the making by such financial intermediary of entries on its books and records identifying such uncertificated certificates as belonging to the Indenture Trustee or its nominee or custodian.

 “Depositor” means World Omni Auto Receivables LLC in its capacity as Depositor under certain of the Basic Documents.

 “Early Termination Date” has the meaning specified in Section 14 of the applicable Interest Rate Swap, if
any. 
 “Eligible Deposit Account” means 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 of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign
bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating of BBB or better by Standard & Poor’s and, if
rated by Fitch, in one of its generic rating categories that signifies investment grade. 
 “Eligible Institution” means

 (a) the corporate trust department of the Indenture Trustee or 

(b) a depository institution or trust company organized under the laws of the United States of America or any one of the states thereof, or
the District of Columbia (or any domestic branch of a foreign bank), which at all times (i) has either (A) a long-term unsecured debt rating of AA or better by Fitch (if rated by Fitch), AA or better by Standard & Poor’s, or
such other rating that is acceptable to each Rating Agency, as evidenced by a letter from such Rating Agency to the Indenture Trustee or (B) a certificate of deposit rating of F-1 by Fitch (if rated by Fitch), A-1+ by Standard &
Poor’s, or such other rating that is acceptable to each Rating Agency, as evidenced by a letter from such Rating Agency to the Indenture Trustee and (ii) whose deposits are insured by the FDIC. 

  
 App. A-9 

 “Eligible Investments” shall mean any of the following in each case with a
required maturity date as set forth in Section 5.01(b) of the Sale and Servicing Agreement: 
 (a) (i) direct
obligations of, and obligations guaranteed as to full and timely payment of principal and interest by, the United States or any agency or instrumentality of the United States the obligations of which are backed by the full faith and credit of the
United States (other than the Government National Mortgage Association), and (ii) direct obligations of, or obligations fully guaranteed by, Fannie Mae or any State then rated with the highest available credit rating of Fitch (if rated by
Fitch) and Standard & Poor’s, or such obligations, which obligations are, at the time of investment, otherwise acceptable to each Rating Agency for securities having a rating at least equivalent to the rating of the Notes; 

(b) money market deposit accounts, certificates of deposit, demand or time deposits, savings deposits, bankers acceptances, or
federal funds, in each case as defined in Regulation D of the Board of Governors of the Federal Reserve System and issued by or sold by or offered by, any domestic office of any commercial bank or any depository institution or trust company
(including the Indenture Trustee or the Owner Trustee or their successors) incorporated or organized under the laws of the United States or any State thereof which has a combined capital and surplus and undivided profits of not less than
$250,000,000 and the deposits of which are insured by the FDIC to the full extent legally permitted; 
 (c) repurchase
obligations held by the Indenture Trustee that are acceptable to the Indenture Trustee with respect to (i) any security described in clause (a) above or (e) below, or (ii) any other security issued or guaranteed by any agency or
instrumentality of the United States, in either case entered into with a federal agency or depository institution or trust company (including the Indenture Trustee) acting as principal, whose obligations having the same maturity as that of the
repurchase agreement would be Eligible Investments under clause (b) above; provided, however, that repurchase obligations entered into with any particular depository institution or trust company (including the Indenture
Trustee or Owner Trustee) will not be Eligible Investments to the extent that the aggregate principal amount of such repurchase obligations with such depository institution or trust company held by the Indenture Trustee on behalf of the Trust shall
exceed 10% of either the Pool Balance or the aggregate unpaid balance or face amount, as the case may be, of all Eligible Investments held by the Indenture Trustee on behalf of the Trust; 

(d) securities bearing interest or sold at a discount issued by any corporation incorporated under the laws of the United
States or any State so long as at the time of such investment or contractual commitment providing for such investment, either the long-term, unsecured debt of such corporation has the highest available credit
rating from Fitch (if rated by Fitch) and Standard & Poor’s, or the Rating Agency Condition has been satisfied, or commercial paper or other short-term debt having the Required Rating; 

  
 App. A-10 

 
provided, however, that any such commercial paper or other short-term debt may have a remaining term to maturity of no longer than 30 days after the date of such investment or
contractual commitment providing for such investment, and that the securities issued by any particular corporation will not be Eligible Investments to the extent that investment therein will cause the then outstanding principal amount or face
amount, as the case may be, of securities issued by such corporation and held by the Indenture Trustee on behalf of the Trust to exceed 10% of either the Pool Balance or the aggregate unpaid principal balance or face amount, as the case may be, of
all Eligible Investments held by the Indenture Trustee on behalf of the Trust; 
 (e) interest in any open-end or closed-end
management type investment company or investment trust (i) registered under the Investment Company Act of 1940, as amended, the portfolio of which is limited to the obligations of, or guaranteed by, the United States and to agreements to
repurchase such obligations, which agreements, with respect to principal and interest, are at least 100% collateralized by such obligations marked to market on a daily basis and the investment company or investment trust shall take delivery of such
obligations either directly or through an independent custodian designated in accordance with the Investment Company Act and (ii) acceptable to each Rating Agency (as approved in writing by each Rating Agency) as collateral for securities
having ratings equivalent to the ratings of the Notes; 
 (f) guaranteed reinvestment agreements issued by any bank,
insurance company or other corporation for which the Rating Agency Condition has been satisfied; 
 (g) investments in
Eligible Investments maintained in “sweep accounts,” short-term asset management accounts and the like utilized for the investment, on an overnight basis, of residual balances in investment accounts
maintained at the Indenture Trustee or any other depository institution or trust company organized under the laws of the United States or any state that is a member of the FDIC, the short-term debt of which has the highest available credit rating of
Fitch (if rated by Fitch) and Standard & Poor’s; 
 (h) guaranteed investment contracts entered into with any
financial institution having a final maturity of not more than one month from the date of acquisition, the short-term debt securities of which institution have the Required Rating; 

(i) funds classified as money market funds; provided, however, that the fund shall be rated with the
highest available credit rating of Fitch (if rated by Fitch) and Standard & Poor’s, and redemptions shall be permitted on a daily or next business day basis; 

(j) auction rate securities issued with a rate reset mechanism and a maximum term of 30 days; provided that
investment will be limited to those issuers having the AAA credit rating of Fitch (if rated by Fitch) and Standard & Poor’s; and 

(k) such other investments for which the Rating Agency Condition has been satisfied. 

  
 App. A-11 

 Notwithstanding anything to the contrary contained in the foregoing definition: 

(a) no Eligible Investment may be repurchased at a premium; 

(b) any of the foregoing which constitutes a certificated security shall not be considered an Eligible Investment unless: 

(i) in the case of a certificated security that is in bearer form, (A) the Indenture Trustee acquires physical possession
of such certificated security, or (B) a person, other than a securities intermediary, acquires possession of such certificated security on behalf of the Indenture Trustee; and 

(ii) in the case of a certificated security that is in registered form (A)(1) the Indenture Trustee acquires physical
possession of such certificated security, (2) a person, other than a securities intermediary, acquires possession of such certificated security on behalf of the Indenture Trustee, or (3) a securities intermediary acting on behalf of the
Indenture Trustee acquires possession of such certificated security and such certificated security has been specially endorsed to the Indenture Trustee, and (B) (1) such certificated security is endorsed to the Indenture Trustee or in
blank by an effective endorsement, or (2) such certificated security is registered in the name of the Indenture Trustee; 

(c) any of the foregoing that constitutes an uncertificated security shall not be considered an Eligible Investment unless
(A) the Indenture Trustee is registered by the issuer as the owner thereof, (B) a person, other than a securities intermediary, becomes the registered owner of such uncertificated security on behalf of the Indenture Trustee, or
(C) the issuer of such uncertificated security agrees that it will comply with the instructions originated by the Indenture Trustee without further consent by any registered owner of such uncertificated security; 

(d) any of the foregoing that constitutes a security entitlement shall not be considered an Eligible Investment unless
(A) the Indenture Trustee becomes the entitlement holder thereof, or (B) the securities intermediary has agreed to comply with the entitlement orders originated by the Indenture Trustee without further consent by the entitlement holder;

 (e) any of the foregoing shall not constitute an Eligible Investment unless the Indenture Trustee (A) has given
value, and (B) does not have notice of an adverse claim; and 
 (f) for the purposes of funds held in the Collection
Account only, investments which would otherwise qualify as Eligible Investments but for the fact that such investments are rated A-1 by Standard & Poor’s shall be Eligible Investments, so long as the aggregate amount of such
investments does not exceed 10% of the Outstanding Amount of the Notes. 
 “ERISA” shall have the meaning assigned thereto
in Section 3.04 of the Trust Agreement. 
 “Event of Default” has the meaning specified in
Section 5.01 of the Indenture. 

  
 App. A-12 

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

“Executive Officer” means, with respect to any company, the Chief Executive Officer, Chief Operating Officer, Chief Financial
Officer, President, any Executive Vice President, Vice President, Secretary, Assistant Secretary, Treasurer or Assistant Treasurer of such company; and with respect to any partnership, any general partner thereof. 

“Expenses” shall have the meaning assigned to such term in Section 8.02 of the Trust Agreement. 

“FDIC” means the Federal Deposit Insurance Corporation. 

“Final Prospectus” shall mean the prospectus dated October 18, 2013, as supplemented by the prospectus supplement dated
October 23, 2013, relating to the Notes. 
 “Final Scheduled Maturity Date” means in the case of an Initial
Receivable, January 29, 2020 or, in the case of a Subsequent Receivable, [RESERVED]. 
 “Final Scheduled Payment Date”
means (i) with respect to the Class A-1 Notes, the Class A-1 Final Scheduled Payment Date, (ii) with respect to the Class A-2 Notes, the Class A-2 Final Scheduled Payment Date, (iii) with respect to the
Class A-3 Notes, the Class A-3 Final Scheduled Payment Date, (iv) with respect to the Class A-4 Notes, the Class A-4 Final Scheduled Payment Date, and (v) with respect to the Class B Notes, the Class B Final Scheduled
Payment Date. 
 “Financed Vehicle” means an automobile or light-duty truck,
together with all accessions thereto, securing an Obligor’s indebtedness under the respective Receivable. 
 “Financial
Asset” has the meaning given such term in Revised Article 8. As used herein, the Financial Asset “related to” a security entitlement is the Financial Asset in which the entitlement holder (as defined in the New York UCC) holding
such Security Entitlement has the rights and property interest specified in the New York UCC. 
 “Fitch” means Fitch, Inc.
or its successor. 
 “Funding Period” means, if the Pre-Funding Account Initial Deposit is greater than zero, the period
beginning on and including the Closing Date and ending on the first to occur of (a) the date on which the amount on deposit in the Pre-Funding Account (after giving effect to any transfers therefrom in connection with the transfer of Subsequent
Receivables to the Issuing Entity on such Payment Date) is not greater than $100,000, (b) the date on which an Event of Default or a Servicer Default occurs, (c) the date on which an Insolvency Event occurs with respect to WOAR or World
Omni or (d) the last Business Day of [RESERVED]. If the Pre-Funding Account Initial Deposit is zero, there will be no Funding Period. 

“Grant” means mortgage, pledge, bargain, warrant, alienate, remise, release, convey, assign, transfer, create, and grant a
lien upon and a security interest in and a right of set-off against, deposit, set over and confirm pursuant to the Indenture. A Grant of the Collateral or of any other agreement or instrument shall include all
rights, powers and options (but none of the 

  
 App. A-13 

 
obligations) of the granting party thereunder, including the immediate and continuing right to claim for, collect, receive and give receipt for principal and interest payments in respect of the
Collateral 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 Proceedings in the name of the granting party or otherwise,
and generally to do and receive anything that the granting party is or may be entitled to do or receive thereunder or with respect thereto. 

“Holder” or “Noteholder” means the Person in whose name a Note is registered on the Note Register. 

“Indemnified Parties” shall have the meaning assigned to such term in Section 8.02 of the Trust Agreement. 

“Indenture” shall mean the Indenture, dated as of the Closing Date, between the Trust and the Indenture Trustee, as the same
may be amended and supplemented from time to time. 
 “Indenture Trustee” means U.S. Bank National Association, not in its
individual capacity but solely as Indenture Trustee under the Indenture, or any successor Indenture Trustee under the Indenture. 

“Independent” means, when used with respect to any specified Person, that the Person (a) is in fact independent of the
Issuing Entity, any other obligor on 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 Issuing Entity, any such other
obligor, the Depositor or any Affiliate of any of the foregoing Persons and (c) is not connected with the Issuing Entity, 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 Certificate” means a
certificate or opinion to be delivered to the Indenture Trustee under the circumstances described in, and otherwise complying with, the applicable requirements of Section 11.01 of the Indenture, made by an Independent appraiser or other
expert appointed by an Issuing Entity Order and approved by the Indenture Trustee in the exercise of reasonable care, and such opinion or certificate shall state that the signer has read the definition of “Independent” in the Indenture and
that the signer is Independent within the meaning thereof. 
 “Initial Aggregate Starting Principal Balance” means
$791,491,997.61. 
 “Initial Cutoff Date” means September 12, 2013. 

“Initial RPA Assignment” has the meaning assigned in Section 2.01 of the Receivables Purchase Agreement. 

“Initial SSA Assignment” has the meaning assigned in Section 2.01 of the Sale and Servicing Agreement. 

  
 App. A-14 

 “Initial Receivables” means the Receivables transferred to the Trust on the
Closing Date as set forth on the Schedule of Receivables attached to the Initial SSA Assignment. 
 “Initial Trust
Agreement” shall have the meaning assigned to such term in Section 2.12 of the Trust Agreement. 
 “Insolvency
Event” means, with respect to a specified Person, (a) the filing of a decree or order for relief by a court having jurisdiction in the premises in respect of such Person or any substantial part of its property in an involuntary case
under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any substantial
part of its property, or ordering the winding-up or liquidation of such Person’s affairs, and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or (b) the commencement by such Person of a
voluntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by such Person to the entry of an order for relief in an involuntary case under any such law, or the consent
by such Person to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any substantial part of its property, or the making by such Person of any
general assignment for the benefit of creditors, or the failure by such Person generally to pay its debts as such debts become due, or the taking of action by such Person in furtherance of any of the foregoing. 

“Interest Accrual Period” means, with respect to any Payment Date, (i) for the Class A-1 Notes, the period from and
including the previous Payment Date (or, in the case of the initial Payment Date, the Closing Date) to, but excluding, the current Payment Date and (ii) for the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the
Class B Notes, the period from and including the 15th day of the preceding calendar month (or, in the case of the initial Payment Date, the Closing Date) to, but excluding, the 15th day of the current calendar month. 

“Interest Rate” means the Class A-1 Interest Rate, the Class A-2 Interest Rate, the Class A-3 Interest Rate,
the Class A-4 Interest Rate or the Class B Interest Rate, as applicable. 
 “Interest Rate Swaps” means the interest
rate swap agreements, if any, including all schedules and confirmations related thereto, between the Trust and the Swap Counterparty, if any, in effect on the Closing Date (as may be amended, supplemented, replaced or otherwise modified and in
effect from time to time). 
 “Investment Earnings” means, with respect to any Payment Date, the investment earnings (net
of losses and investment expenses) on amounts on deposit in the Trust Accounts to be deposited into the Collection Account on such Payment Date pursuant to Section 5.01(b) of the Sale and Servicing Agreement. 

“Investment Letter” has the meaning assigned in Section 2.04(a) of the Indenture. 

“Issuing Entity” means World Omni Auto Receivables Trust 2013-B until a successor replaces it and, thereafter, means the
successor and, for purposes of any provision contained in the Indenture and required by the TIA, each other obligor on the Notes. 

  
 App. A-15 

 “Issuing Entity Order” or “Issuing Entity Request” means a
written order or request signed in the name of the Issuing Entity by any one of its Authorized Officers and delivered to the Indenture Trustee. 

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

“Liquidated Receivable” means any Receivable liquidated by the Servicer through the sale of a Financed Vehicle or otherwise.

 “Liquidation Proceeds” means, with respect to any Liquidated Receivable, the monies collected in respect thereof, from
whatever source on a Liquidated Receivable during the Collection Period in which such Receivable became a Liquidated Receivable, net of the sum of any amounts expended by the Servicer in connection with such liquidation and any amounts required by
law to be remitted to the Obligor on such Liquidated Receivable. 
 “Materiality Opinion” has the meaning set forth in the
Swap Counterparty Rights Agreement, if any. 
 “Maximum Negative Carry Amount” means, if there is a Funding Period, with
respect to the Closing Date and any Payment Date, the product of (i) the excess of (a) the weighted average of the Interest Rates on the Notes, as of such date over (b) [RESERVED]% multiplied by (ii) the amount on deposit in the
Pre-Funding Account on such date multiplied by (iii) the fraction of a year represented by the number of days from such date until, but excluding, the Payment Date immediately following the calendar month in which the last day of the Funding
Period occurs (calculated on the basis of a 360-day year of twelve 30-day months). 
 “Monthly Swap Payment Amount” means,
with respect to any Payment Date, the amount payable by the Trust under the Interest Rate Swaps other than Swap Termination Payment Amounts, if any. 

“Negative Carry Account” means the account, if any, designated as such, established and maintained pursuant to
Section 5.01(a)(v) of the Sale and Servicing Agreement. 
 “Negative Carry Account Initial Deposit” means cash
or Eligible Investments having a value of $0.00. 
 “Negative Carry Amount” means, if there is a Funding Period, with
respect to any Payment Date, the excess (if any) of (i) the product of (a) the sum of the aggregate of the Class A Noteholders’ Interest Distributable Amount and the Class B Noteholders’ Interest Distributable Amount for
such Payment Date multiplied by (b) a fraction, the numerator of which is the amount on deposit in the Pre-Funding Account as of the preceding Payment Date (or, if none, the Closing Date) and the denominator of which is the Outstanding Amount
on such preceding Payment Date (or, if none, the Closing Date), in each case, giving effect to all deposits, withdrawals and payments to be made on such Payment Date over (ii) the Investment Earnings on amounts in the Pre-Funding Account during
the related Collection Period. 

  
 App. A-16 

 “Non-Recoverable Advance Receivable” means a Receivable for which the Servicer
has determined on or prior to the related Payment Date that an Advance thereon would not be recoverable or that prior Advances thereon are not recoverable. 

“Note Depository Agreement” means the letter of representations, dated as of the Closing Date, between the Issuing Entity and
The Depository Trust Company, as the initial Clearing Agency. 
 “Note Distribution Account” means the account designated
as such, established and maintained pursuant to Section 5.01(a)(ii) of the Sale and Servicing Agreement. 
 “Note
Owner” means, with respect to a Book-Entry Note, the Person who is the beneficial owner of such Book-Entry Note, as reflected on the books of the Clearing Agency or on the books of a Person maintaining an account with such Clearing Agency
(directly as a Clearing Agency Participant or as an indirect participant, in each case in accordance with the rules of such Clearing Agency). 

“Note Pool Factor” means, with respect to each Class of Notes as of the close of business on the last day of a Collection
Period, a seven-digit decimal figure equal to the Outstanding Amount of such Class of Notes (after giving effect to any reductions thereof to be made on the immediately following Payment Date) divided by the original Outstanding Amount of such Class
of Notes. The Note Pool Factor will be 1.0000000 as of the Closing Date; thereafter, the Note Pool Factor will decline to reflect reductions in the Outstanding Amount of such Class of Notes. 

“Note Register” and “Note Registrar” have the respective meanings specified in Section 2.05 of
the Indenture. 
 “Noteholders” shall mean the holders of the Notes. 

“Noteholders’ Distributable Amount” means, with respect to any Payment Date, the sum of the Noteholders’ Interest
Distributable Amount and the Noteholders’ Principal Distributable Amount for such Payment Date. 
 “Noteholders’ First
Priority Principal Distributable Amount” means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the Outstanding Amount of the Class A Notes as of the day immediately preceding such Payment Date over
(b) the Pool Balance for that Payment Date. 
 “Noteholders’ Interest Distributable Amount” means, with respect
to any Payment Date, the sum of the Class A Noteholders’ Interest Distributable Amount for such Payment Date and the Class B Noteholders’ Interest Distributable Amount for such Payment Date. 

“Noteholders’ Principal Distributable Amount” means, with respect to any Payment Date, the excess, if any, of
(a) the sum of the Outstanding Amount of the Notes as of the day immediately preceding that Payment Date over (b) the Pool Balance for that Payment Date minus the Overcollateralization Target Amount for that Payment Date, provided
that on the Final Scheduled Payment Date of any Class of Notes, the Noteholders’ Principal Distributable Amount shall not be less than the amount necessary to reduce the aggregate Principal Balance of such Class of Notes to zero. 

  
 App. A-17 

 “Noteholders’ Second Priority Principal Distributable Amount” means, with
respect to any Payment Date, an amount equal to the excess, if any, of (a) the Outstanding Amount of the Notes as of the day immediately preceding such Payment Date over (b) the Pool Balance for that Payment Date less (c) any amounts
allocated to the Noteholders’ First Priority Principal Distributable Amount. 
 “Notes” means Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes and
Class B Notes. 
 “Obligor” on a Receivable means the purchaser or co-purchasers of
the Financed Vehicle and any other Person who owes payments under the Receivable. 
 “Officer’s Certificate” means in
the case of the Issuing Entity, a certificate signed by any Authorized Officer of the Issuing Entity, under the circumstances described in, and otherwise complying with, the applicable requirements of Section 11.01 of the Indenture, and
delivered to the Indenture Trustee (unless otherwise specified, any reference in the Indenture to an Officer’s Certificate shall be to an Officer’s Certificate of any Authorized Officer of the Issuing Entity), and in the case of World
Omni, the Depositor or the Servicer, a certificate signed by the president, a vice president, a treasurer, assistant treasurer, secretary or assistant secretary of World Omni, the Depositor or the Servicer, as appropriate. 

“Opinion of Counsel” means one or more written opinions of counsel who may, except as otherwise expressly provided in the
Indenture, be an employee of or counsel to the Issuing Entity and who shall be satisfactory to the addressees of such opinion, and which opinion or opinions if addressed to the Indenture Trustee, shall comply with any applicable requirements of
Section 11.01 of the Indenture and shall be in form and substance satisfactory to the Indenture Trustee. 

“Outstanding” means, as of the date of determination, all Notes theretofore authenticated and delivered under this Indenture
except: 
 (a) Notes theretofore cancelled by the Note Registrar or delivered to the Note Registrar for cancellation; 

(b) Notes or portions thereof the payment for which money in the necessary amount has been theretofore deposited with the
Indenture Trustee or any Paying Agent in trust for the Holders of such Notes (provided, however, that if such Notes are to be redeemed, notice of such redemption has been duly given or waived pursuant to this Indenture or provision for
such notice or waiver has been made which is satisfactory to the Indenture Trustee); and 
 (c) Notes in exchange for or in
lieu of which other Notes have been authenticated and delivered pursuant to this Indenture unless proof satisfactory to the Indenture Trustee is presented that any such Notes are held by a protected purchaser; 

  
 App. A-18 

 provided, that in determining whether the Holders of the requisite Outstanding Amount of
the Controlling Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder or under any Basic Document, Notes owned by the Issuing Entity, any other obligor upon the Notes, the Depositor or any Affiliate
of any of the foregoing Persons shall be disregarded and deemed 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 has actual knowledge are 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 with respect to such Notes and that the pledgee is not the Issuing Entity, any other obligor upon the Notes, the Depositor or any Affiliate of any of the foregoing Persons.

 “Outstanding Advances” means all Advances by the Servicer minus all reimbursements of Advances to the Servicer pursuant
to Section 4.08 and Section 5.04 of the Sale and Servicing Agreement. 
 “Outstanding Amount” means
the aggregate principal amount of all Notes, or Class of Notes, as applicable, Outstanding at the date of determination. 

“Overcollateralization Target Amount” means, with respect to any Payment Date, an amount equal to 4.50% of the aggregate
Principal Balance of the Receivables as of the end of the related Collection Period less the Yield Supplement Overcollateralization Amount of those Receivables as of the last day of the related Collection Period, but not less than the result of
1.00% of the Aggregate Starting Principal Balance of the Receivables minus the Yield Supplement Overcollateralization Amount as of the applicable Cutoff Date. 

“Owner Trust Estate” shall mean all right, title and interest of the Trust in and to the property and rights assigned to the
Trust pursuant to Article II of the Sale and Servicing Agreement, all funds on deposit from time to time in the Trust Accounts and all other property of the Trust from time to time, including any rights of the Trust pursuant to the Sale
and Servicing Agreement and the Administration Agreement. 
 “Owner Trustee” shall mean BNY Mellon Trust of Delaware, not
in its individual capacity but solely as owner trustee under the Trust Agreement, and any successor Owner Trustee thereunder. 

“Paying Agent” means the Indenture Trustee or any other Person that meets the eligibility standards for the Indenture Trustee
specified in Section 6.11 of the Indenture and is authorized by the Issuing Entity to make payments to and distributions from the Collection Account and the Note Distribution Account, including payments of principal of or interest on the
Notes on behalf of the Issuing Entity. 
 “Payment Date” means, with respect to each Collection Period, the fifteenth day
of the following month or, if such day is not a Business Day, the immediately following Business Day. The initial Payment Date will be November 15, 2013. 

  
 App. A-19 

 “Payment Determination Date” means, with respect to any Payment Date, the
Business Day immediately preceding such Payment Date. 
 “Payment Extension Program” means a program where one month’s
payment of principal is deferred in return for the payment of an extension fee calculated generally at the APR of the contract for the month in which such payment is deferred (unless such fee is waived by the Servicer in accordance with the
Servicer’s customary servicing procedures). 
 “Percentage Interest” shall mean, with respect to each Trust
Certificate, the percentage beneficial interest in the Trust represented by such Trust Certificate. 
 “Person” means any
individual, corporation, limited liability company, estate, partnership, joint venture, association, joint stock company, trust (including any beneficiary thereof), unincorporated organization or government or any agency or political subdivision
thereof. 
 “Physical Property” has the meaning assigned to such term in the definition of “Delivery” above. 

“Plan” shall have the meaning assigned to such term in Section 3.04 of the Trust Agreement. 

“Pool Balance” means, as of any Payment Date, the aggregate Principal Balance of the Receivables as of the last day of the
related Collection Period less the Yield Supplement Overcollateralization Amount as of such day of the related Collection Period after giving effect to all payments of principal received from obligors and Purchase Amounts to be remitted by the
Servicer or the Depositor, as the case may be, plus amounts, if any, on deposit in the Pre-Funding Account, if any, as of the last day of the related Collection Period (after giving effect to any withdrawals therefrom on such date in connection with
the purchase of Subsequent Receivables), for such Collection Period, and after reduction to zero of the aggregate outstanding Principal Balance of any Receivable that became a Defaulted Receivable during the related Collection Period. 

“Predecessor Note” means, with respect to any particular Note, every previous Note evidencing all or a portion of the same
debt as that evidenced by such particular Note; and, for the purpose of this definition, any Note authenticated and delivered under Section 2.06 of the Indenture in lieu of a mutilated, lost, destroyed or stolen Note shall be deemed to
evidence the same debt as the mutilated, lost, destroyed or stolen Note. 
 “Pre-Funded Amount” means with respect to any
Payment Date, the amount on deposit in the Pre-Funding Account, if any. 
 “Pre-Funding
Account” means the account, if any, designated as such, established and maintained pursuant to Section 5.01(a)(iv) of the Sale and Servicing Agreement. 

“Pre-Funding Account Initial Deposit” means Cash or Eligible Investments having a value of $0.00. 

  
 App. A-20 

 “Principal Balance” of a Receivable, as of the close of business on the last day
of a Collection Period, means the Amount Financed minus the sum of (i) the portion of all payments made by or on behalf of the related Obligor on or prior to such day and allocable to principal using the Simple Interest Method;
(ii) refunds of any warranty or insurance financed on the original Contract; and (iii) any payment of the Purchase Amount with respect to the Receivable allocable to principal. 

“Principal Distribution Amount” means, with respect to any Payment Date, the sum of the following amounts, without
duplication, with respect to the Receivables with respect to the related Collection Period: (a) that portion of all collections on Receivables allocable to principal, (b) the principal amount of Receivables that became Defaulted
Receivables during such Collection Period, (c) to the extent attributable to principal, the Purchase Amount of each Receivable that became a Purchased Receivable during such Collection Period, and (d) partial prepayments received by the
Servicer relating to refunds of any warranty or insurance, but only if such amounts were financed by the respective Obligors thereon as of the date of the original contract and only to the extent not included under clause (a) above;
provided, however, that in calculating the Principal Distribution Amount all payments on and proceeds (including Liquidation Proceeds) of any Purchased Receivables the Purchase Amount of which has been included in the Principal
Distribution Amount in a prior Collection Period will be excluded. 
 “Proceeding” means any suit in equity, action at law
or other judicial or administrative proceeding. 
 “Purchase Amount” means, with respect to a Receivable, the amount, as of
the close of business on the last day of the Collection Period as of which that Receivable is purchased, required to prepay in full that Receivable under the terms thereof including accrued and unpaid interest to such last day. 

“Purchase Date” has the meaning assigned to such term in Section 2.01 of the Receivables Purchase Agreement. 

“Purchase Price” has the meaning assigned to such term in Section 2.02 of the Receivables Purchase Agreement.

 “Purchased Receivable” means a Receivable purchased as of the close of business on the last day of a Collection Period
by the Servicer pursuant to Section 4.07 or by World Omni pursuant to Section 3.02 of the Sale and Servicing Agreement. 

“Rating Agencies” means, for so long as such organization is rating a Class of Notes, Fitch and Standard &
Poor’s or, if none of such organizations or successors is any longer in existence, a nationally recognized statistical rating organization or other comparable Person designated by the Depositor, notice of which designation shall be given to the
Indenture Trustee, the Owner Trustee and the Servicer. 
 “Rating Agency Condition” means, with respect to any action, that
each Rating Agency then rating a Class of Notes shall have received 5 Business Days’ (or such shorter period as shall be acceptable to each Rating Agency) prior written notice and shall not have notified the Depositor that such action will
result in a downgrade of the then current rating on any Notes. 

  
 App. A-21 

 “Receivable” means any Contract listed on the Schedule of Receivables attached
to an Assignment (which Schedule may be in the form of microfiche), as such Schedule may be amended from time to time. 

“Receivable Files” means the documents specified in Section 3.03 of the Sale and Servicing Agreement. 

“Receivables Purchase Agreement” shall mean the Receivables Purchase Agreement, dated as of the Closing Date, between World
Omni, as depositor and World Omni Auto Receivables LLC, as purchaser, as amended from time to time. 
 “Record Date” means,
with respect to a Payment Date or Redemption Date, the close of business on the Business Day immediately preceding such Payment Date or Redemption Date or, if Definitive Notes have been issued pursuant to Section 2.13 of the Indenture,
the Payment Date in the preceding month. 
 “Recoveries” means, with respect to any Receivable that becomes a Liquidated
Receivable, monies collected in respect thereof, from whatever source, during any Collection Period following the Collection Period in which such Receivable became a Liquidated Receivable, net of any expenses of the Servicer in connection with such
Receivable for which the Servicer has not been previously reimbursed and any amounts required by law to be remitted to the Obligor. 

“Redemption Date” means, in the case of a redemption of the Notes pursuant to Section 10.01 of the Indenture, the
Payment Date specified by the Depositor or the Issuing Entity pursuant to Section 10.01 of the Indenture. 
 “Redemption
Price” means, in connection with a redemption of the Notes pursuant to Section 10.01 of the Indenture, with respect to any Note, an amount equal to the unpaid principal amount of such Note plus accrued and unpaid interest
thereon to but excluding the Redemption Date. 
 “Registered Holder” means the Person in whose name a Note is registered on
the Note Register on the applicable Record Date. 
 “Regulation AB” means Subpart 229.1100 – Asset Backed Securities
(Regulation AB), 17 C.F.R. §§229.1100-229.1123, as such may be amended from time to time and subject to such clarification and interpretation as have been provided by the Commission in the adopting release (Asset-Backed Securities,
Securities Act Release No. 33-8518. 70 Fed. Reg. 1,506, 1,531 (January 7, 2005)) or by the staff of the Commission, or as may be provided by the Commission or its staff from time to time. 

“Reporting Officer” means, with respect to the Indenture Trustee, any officer within the Corporate Trust Office of the
Indenture Trustee, including any Vice President, Assistant Vice President, Assistant Treasurer, Assistant Secretary or any other officer, employee or other person of the Indenture Trustee customarily performing functions similar to those performed
by any of the above designated officers and, with respect to each, having direct responsibility for the administration of the Indenture and also, with respect to a particular matter, any other officer,

  
 App. A-22 

 
employee or other person to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject, or, with respect to the Owner Trustee, any
officer, employee or other person within the corporate trust office of the Owner Trustee having direct responsibility for the administration of the Trust Agreement. 

“Reporting Subcontractor” shall mean with respect to any Person, any Subcontractor for such Person that is
“participating in the servicing function” within the meaning of Item 1122 of Regulation AB. References to a Reporting Subcontractor shall refer only to the Subcontractor of such Person and shall not refer to Subcontractors generally.

 “Repurchase Event” shall have the meaning specified in Section 6.02 of the Receivables Purchase Agreement.

 “Repurchase Rules and Regulations” shall have the meaning specified in Section 6.14 of the Indenture. 

“Required Rate” means 4.00% per annum, or such other rate as shall be approved by the Rating Agencies. 

“Required Rating” means a rating on commercial paper or other short term unsecured debt obligations of F-1 by Fitch (if rated
by Fitch) so long as Fitch is a Rating Agency and A-1+ by Standard & Poor’s so long as Standard & Poor’s is a Rating Agency; and any requirement that deposits or debt obligations
have the “Required Rating” shall mean that such deposits or debt obligations have the foregoing required ratings from Fitch (if rated by Fitch) and Standard & Poor’s. 

“Required Negative Carry Account Balance” means, if applicable, as of any Payment Date, an amount equal to the lesser of
(a) the amount then on deposit in the Negative Carry Account, if any, and (b) the Maximum Negative Carry Amount as of such date. 

“Required Reserve Amount” means, with respect to any Payment Date, the lesser of (a) 0.25% of the difference of the
Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the applicable Cutoff Date of all Receivables transferred to the Trust and (b) the Outstanding Amount of the Notes. 

“Reserve Account” means the account designated as such, established and maintained pursuant to
Section 5.01(a)(iii) and Section 5.07 of the Sale and Servicing Agreement. 
 “Reserve Account Initial
Deposit” means cash or Eligible Investments having a value of $1,903,544.61. 
 “Reserve Account Subsequent Transfer
Deposit” means with respect to any Subsequent Transfer Date, cash or Eligible Investments in an amount equal to [RESERVED]% of the aggregate Starting Principal Balance of the transferred Subsequent Receivables as of the applicable
Subsequent Transfer Date less the Yield Supplement Overcollateralization Amount as of the applicable Subsequent Transfer Date, which shall be deposited into the Reserve Account on such Subsequent Transfer Date pursuant to Section 5.01(d)
of the Sale and Servicing Agreement. 

  
 App. A-23 

 “Responsible Officer” means, with respect to the Indenture Trustee, any officer
within the Corporate Trust Office of the Indenture Trustee, including any Vice President, Assistant Vice President, Assistant Treasurer, Assistant Secretary or any other officer of the Indenture Trustee customarily performing functions similar to
those performed by any of the above designated officers and, with respect to each, having direct responsibility for the administration of the Indenture 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. 
 “Retained Notes” means
[RESERVED]. 
 “RPA Assignment” has the meaning designated in Section 2.01 of the Receivables Purchase
Agreement 
 “Sale and Servicing Agreement” means the Sale and Servicing Agreement, dated as of the Closing Date, among the
Issuing Entity, the Depositor and World Omni, as Servicer, as amended from time to time. 
 “Schedule of Receivables” shall
mean each schedule attached to an RPA Assignment or an SSA Assignment specifying the Receivables being transferred, as such Schedule may be amended from time to time. 

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

“Securities Act” means the Securities Act of 1933, as amended. 

“Securitization Transaction” means any transaction effected after the Closing Date involving an issuance of notes pursuant to
the Indenture, whether publicly offered or privately placed, rated or unrated. 
 “Senior Swap Termination Payment Amount”
means any Swap Termination Payment Amount other than a Subordinate Swap Termination Payment Amount, if any. 
 “Servicer”
means World Omni, in its capacity as servicer under the Sale and Servicing Agreement, and any Successor Servicer thereunder. 

“Servicer Default” means an event specified in Section 8.01 of the Sale and Servicing Agreement. 

“Servicer’s Certificate” means a certificate of the Servicer delivered pursuant to Section 4.09 of the Sale
and Servicing Agreement. 
 “Servicing Criteria” means the “servicing criteria” set forth in Item 1122(d) of
Regulation AB, as such may be amended from time to time. 
 “Servicing Fee” means the fee payable to the Servicer for
services rendered during each Collection Period, determined pursuant to Section 4.08 of the Sale and Servicing Agreement. 

“Servicing Fee Rate” means 1% per annum. 

  
 App. A-24 

 “Similar Law” has the meaning assigned to such term in Section 3.04
of the Trust Agreement. 
 “Simple Interest Method” means the method of allocating a fixed level payment to principal and
interest, pursuant to which the portion of such payment that is allocated to interest is equal to the product of the fixed rate of interest multiplied by the unpaid principal balance multiplied by the period of time elapsed since the preceding
payment of interest was made and the remainder of such payment is allocable to principal. 
 “Simple Interest Receivable”
means any Receivable under which the portion of a payment allocable to interest and the portion allocable to principal is determined in accordance with the Simple Interest Method. 

“Sponsor” means World Omni Financial Corp., a Florida corporation, or its successors. 

“SSA Assignment” means the Initial SSA Assignment and any Subsequent Transfer SSA Assignment. 

“Standard & Poor’s” means Standard & Poor’s Ratings Services, a Standard & Poor’s
Financial Services LLC business, or its successor. 
 “Starting Principal Balance” means with respect to a Receivable, the
aggregate principal amount advanced under such Receivable toward the purchase price of the Financed Vehicle or Financed Vehicles, including insurance premiums, service and warranty contracts, federal excise and sales taxes and other items
customarily financed as part of a Receivable and related costs, less payments received from the Obligor prior to the Cutoff Date with respect to such Receivable allocable to principal. 

“State” means any one of the 50 States of the United States of America or the District of Columbia. 

“Statutory Trust Act” shall mean Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code
§ 3801 et seq., as the same may be amended from time to time. 
 “Subcontractor” shall mean any vendor,
subcontractor or other Person that is not responsible for the overall servicing (as “servicing” is commonly understood by participants in the mortgage-backed securities market) of Receivables but performs one or more discrete functions
identified in Item 1122(d) of Regulation AB with respect to the Receivables under the direction or authority of the Servicer or the Indenture Trustee. 

“Subordinate Swap Termination Payment Amount” means any Swap Termination Payment Amount resulting from a termination where
the Swap Counterparty is the Defaulting Party or the sole Affected Party (each as defined in the applicable Interest Rate Swap) other than terminations arising from a Tax Event or Illegality (each as defined in the applicable Interest Rate Swap) ,
if any. 

  
 App. A-25 

 “Subsequent Cutoff Date” means with respect to any Receivable transferred to the
Trust after the Closing Date, if any, the date specified by the Depositor in the month those Receivables are transferred to the Trust. 

“Subsequent Receivables” means the Receivables transferred from the Depositor to the Issuing Entity pursuant to
Section 2.03 of the Sale and Servicing Agreement, which shall be listed on the schedules to the related Subsequent Transfer SSA Assignment, if any. 

“Subsequent Transfer Date” means any date during the Funding Period, if any, on which Subsequent Receivables are to be
transferred to the Issuing Entity and a related Subsequent Transfer SSA Assignment is executed and delivered to the Issuing Entity and the Indenture Trustee pursuant to Section 2.03 of the Sale and Servicing Agreement. 

“Subsequent Transfer RPA Assignment” has the meaning designated in Section 2.01 of the Receivables Purchase
Agreement. 
 “Subsequent Transfer SSA Assignment” has the meaning assigned thereto in Section 2.03(a) of the
Sale and Servicing Agreement. 
 “Successor Servicer” has the meaning specified in Section 3.07(e) of the
Indenture. 
 “Supplemental Servicing Fees” means late fees, any prepayment charges, phone pay fees and other
administrative fees or similar charges allowed by applicable law with respect to the Receivables collected from Obligors during the related Collection Period. 

“Swap Counterparty” means [RESERVED], and any permitted successor pursuant to the terms of each applicable Interest Rate
Swap, if any. 
 “Swap Counterparty Rights Agreement” means the swap counterparty rights agreement, dated as of the Closing
Date, as amended, supplemented or otherwise modified and in effect from time to time, by and among the Trust, the Swap Counterparty, the Depositor and World Omni, if any. 

“Swap Termination Payment Amount” means any amount due to the Swap Counterparty from the Trust in respect of an Early
Termination Date of the applicable Interest Rate Swap, if any. 
 “Total Available Funds” means with respect to any Payment
Date, an amount equal to Available Funds and funds available from the Negative Carry Account, if any, up to the Negative Carry Amount. 

“Total Required Advances” means, with respect to any Payment Date for each Receivable (other than a Non-Recoverable Advance Receivable) that is more than 30 days delinquent (determined as of the close of business on the last day of the related Collection Period), an amount equal to the product of (A) one-twelfth, (B) the APR of such Receivable, (C) the Principal Balance of such Receivable and (D) the number of payments (minus one) that such Receivable is delinquent as of the last day of
the related Collection Period. 

  
 App. A-26 

 “Transferor Certificate” has the meaning assigned in Section 2.04(a)
of the Indenture. 
 “Treasury Regulations” shall mean regulations, including proposed or temporary Regulations,
promulgated under the Code. References herein to specific provisions of proposed or temporary regulations shall include analogous provisions of final Treasury Regulations or other successor Treasury Regulations. 

“Trust” means World Omni Auto Receivables Trust 2013-B, a Delaware statutory trust. 

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

“Trust Accounts” has the meaning assigned thereto in Section 5.01 of the Sale and Servicing Agreement. 

“Trust Agreement” means the Trust Agreement, dated as of the Closing Date, between the Depositor and the Owner Trustee, as
the same may be amended and supplemented from time to time; such agreement being the amended and restated Trust Agreement contemplated by the Initial Trust Agreement. 

“Trust Certificate” shall mean a certificate evidencing the beneficial interest of a Person in the trust established by the
Trust Agreement and substantially in the form attached as Exhibit A to such Trust Agreement. 
 “Trust Estate”
means all money, instruments, rights and other property that are subject or intended to be subject to the lien and security interest of this Indenture for the benefit of the Noteholders (including, without limitation, all property and interests
Granted to the Indenture Trustee), including all proceeds thereof. 
 “Trust Indenture Act” or “TIA” means
the Trust Indenture Act of 1939 as in force as of the Closing Date, unless otherwise specifically provided. 
 “Trust
Officer” means, in the case of the Indenture Trustee, any Officer within the Corporate Trust Office of the Indenture Trustee, including any Vice President, Assistant Vice President, Secretary, Assistant Secretary or any other officer of the
Indenture Trustee 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 and, with respect to the Owner Trustee, any officer within the Corporate Trust Office of the Owner Trustee with direct responsibility for the administration of the Trust Agreement and the
Basic Documents on behalf of the Owner Trustee. 
 “Trustee Bank” means, BNY Mellon Trust of Delaware in its individual
capacity, each bank appointed as successor Owner Trustee under the Trust Agreement in its individual capacity and each bank appointed as co-trustee under and to the extent provided in the Trust Agreement in its individual capacity. 

  
 App. A-27 

 “UCC” means, unless the context otherwise requires, the Uniform Commercial Code,
as in effect in the relevant jurisdiction, as amended from time to time. 
 “WOAR” means World Omni Auto Receivables LLC, a
Delaware limited liability company, or its successors. 
 “World Omni” means World Omni Financial Corp., a Florida
corporation, or its successors. 
 “Yield Supplement Overcollateralization Amount” means, with respect to any calendar
month and the related Payment Date, or with respect to the Initial Cutoff Date or any Subsequent Cutoff Date, the aggregate amount by which the Principal Balance as of the last day of such calendar month or the respective Cutoff Date of each of the
related Receivables with an APR as stated in the related Contract of less than the Required Rate, other than a Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled
payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days. 

  
 App. A-28 

 APPENDIX A 

PART II - RULES OF CONSTRUCTION 

(A) Accounting Terms. As used in this Appendix or the Basic Documents, accounting terms which are not defined, 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 the Basic Documents are inconsistent with
the meanings of such terms under generally accepted accounting principles, the definitions contained in this Appendix or the Basic Documents will control. 

(B) “Hereof,” etc.: The words “hereof,” “herein” and “hereunder” and words of similar import
when used in this Appendix or any Basic Document will refer to this Appendix or such Basic Document as a whole and not to any particular provision of this Appendix or such Basic Document; and Section, Schedule and Exhibit references contained in
this Appendix or any Basic Document are references to Sections, Schedules and Exhibits in or to this Appendix or such Basic Document unless otherwise specified. The word “or” is not exclusive. 

(C) Use of “related” as used in this Appendix and the Basic Documents, with respect to any Payment Date, the “related
Payment Determination Date,” the “related Collection Period,” and the “related Record Date” will mean the Payment Determination Date, the Collection Period, and the Record Date, respectively, immediately preceding such
Payment Date. With respect to any Purchase Date, the “related Cutoff Date” will mean the Cutoff Date established for the closing of the purchase of Receivables on that Purchase Date. 

(D) Use of “outstanding” etc. Whenever the term “outstanding Notes,” “outstanding principal amount” and
words of similar import are used in this Appendix or any Basic Document for purposes of determining whether the Noteholders of the requisite outstanding principal amount of the Notes have given any request, demand, authorization, direction, notice,
consent or waiver hereunder or under any Basic Document, Notes owned by the Issuing Entity, any other obligor upon the Notes, the Depositor or any Affiliate of any of the foregoing Persons (it being understood that the Owner Trustee in its
individual capacity shall not be considered an Affiliate of any of the foregoing) shall be disregarded and deemed 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 the Indenture Trustee knows to be 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 pledgor’s right so to act with respect to such Notes and that the pledgee is not the Issuing Entity, any other obligor upon the Notes, the Depositor or any Affiliate of any of
the foregoing Persons. 
 (E) Number and Gender. Each defined term used in this Appendix or the Basic Documents has a comparable
meaning when used in its plural or singular form. Each gender-specific term used in this Appendix or the Basic Documents has a comparable meaning whether used in a masculine, feminine or gender-neutral form. 

  
 App. A-29 

 (F) Including. Whenever the term “including” (whether or not that term is
followed by the phrase “but not limited to” or “without limitation” or words of similar effect) is used in this Appendix or the Basic Documents 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. 

(G) UCC References. References to sections or provisions of Article 9 of the UCC in any of the Basic Documents shall be deemed to be
automatically updated to reflect the successor, replacement or functionally equivalent sections or provisions of Revised Article 9, Secured Transactions (2000) at any time in any jurisdiction which has made such revised article effective. 

(H) References to a Class of Notes. Unless otherwise specified, references to a class of Notes, includes all the tranches included in
such class of Notes. 

  
 App. A-30 

 APPENDIX B 

Additional Representations and Warranties 
  

	1.	This Agreement, the Receivables Purchase Agreement and the Indenture create a valid and continuing security interest (as defined in the applicable UCC) in the Receivables in favor of the Indenture Trustee, which
security interest is prior to all other Liens, and is enforceable as such as against creditors of and purchasers from World Omni, the Depositor and the Trust, respectively. 

 

	2.	World Omni has taken all steps necessary to perfect its security interest against each Obligor in the property securing the Receivables. 

 

	3.	The Receivables constitute “tangible chattel paper” within the meaning of the applicable UCC. 

  

	4.	World Omni owns and has good and marketable title to the Receivables and will transfer the Receivables free and clear of any Lien, claim or encumbrance of any Person. 

 

	5.	World Omni has caused or will have caused, within ten days, the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the
security interest in the Receivables granted to the Depositor under the Receivables Purchase Agreement, to the Issuing Entity hereunder and to the Indenture Trustee under the Indenture. 

 

	6.	Other than (a) any security interests which have been released prior to or in connection with the execution of the Basic Documents and (b) the security interests granted to the Depositor, the Issuing Entity,
and the Indenture Trustee pursuant to the Basic Documents, none of World Omni, the Depositor or the Issuing Entity has pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Receivables. None of World Omni, the
Depositor or the Issuing Entity has authorized the filing of, and is not aware of, any financing statements against World Omni, the Depositor or the Issuing Entity that include a description of collateral covering the Receivables other than any
financing statement relating to the security interests granted to the Depositor, the Issuing Entity, and the Indenture Trustee under the Basic Documents or a financing statement that has been terminated with respect to the Receivables. None of World
Omni, the Depositor or the Issuing Entity is aware of any judgment or tax lien filings against World Omni, the Depositor or the Issuing Entity. 

  

	7.	World Omni, as Servicer, has in its possession all original copies of the Receivable Files that constitute or evidence the Receivables. The Receivables Files that constitute or evidence the Receivables do not have any
marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person other than the Depositor, the Issuing Entity or the Indenture Trustee. All financing statements filed or to be filed against World Omni, the
Depositor or the Issuing Entity in favor of the Depositor, the Issuing Entity or the Indenture Trustee, respectively, in connection herewith describing the Receivables contain a statement to the following effect: “A purchase of or security
interest in any collateral described in this financing statement will violate the rights of the Noteholders.” 

  
 App. B

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