Document:

EX-10.4

 Exhibit 10.4 

Execution Version 
  

 
 ACAR LEASING LTD., 

as the Titling Trust, 
 GM
FINANCIAL, 
 as Servicer, 
 APGO
TRUST, as Settlor, 
 and 

WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Collateral Agent and Indenture Trustee 
  

 
 2018-1 SERVICING SUPPLEMENT 
 Dated as of December 25, 2017 

 
  

 
  

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
	ARTICLE I DEFINITIONS AND INTERPRETIVE PROVISIONS	  	 	1	 
			
	 SECTION 1.1.
	 	General Definitions	  	 	1	 
		
	 ARTICLE II SERVICING OF 2018-1 DESIGNATED POOL
	  	 	2	 
			
	 SECTION 2.1.
	 	Servicing of 2018-1 Designated Pool	  	 	2	 
	 SECTION 2.2.
	 	Identification of 2018-1 Lease Agreements and 2018-1 Leased Vehicles; Securitization Value	  	 	2	 
	 SECTION 2.3.
	 	Accounts	  	 	2	 
	 SECTION 2.4.
	 	General Provisions Regarding Accounts	  	 	4	 
	 SECTION 2.5.
	 	Reallocation and Repurchase of 2018-1 Lease Agreements and 2018-1 Leased Vehicles; Purchase of Matured Vehicles	  	 	6	 
	 SECTION 2.6.
	 	2018-1 Designated Pool Collections	  	 	8	 
	 SECTION 2.7.
	 	Servicing Compensation; Expenses	  	 	8	 
	 SECTION 2.8.
	 	Third Party Claims	  	 	8	 
	 SECTION 2.9.
	 	Reporting by the Servicer; Delivery of Certain Documentation; Inspection; Asset-Level Information	  	 	9	 
	 SECTION 2.10.
	 	Annual Independent Accountant’s Report	  	 	10	 
	 SECTION 2.11.
	 	Servicer Defaults; Termination of the Servicer	  	 	11	 
	 SECTION 2.12.
	 	Representations and Warranties	  	 	13	 
	 SECTION 2.13.
	 	Custody of Lease Documents	  	 	14	 
	 SECTION 2.14.
	 	Reserve Account	  	 	14	 
	 SECTION 2.15.
	 	Liability of Successor Servicer	  	 	14	 
	 SECTION 2.16.
	 	Merger or Consolidation of, or Assumption of Obligations of the Servicer	  	 	15	 
	 SECTION 2.17.
	 	Resignation of the Servicer	  	 	16	 
	 SECTION 2.18.
	 	Separate Existence	  	 	16	 
	 SECTION 2.19.
	 	Like Kind Exchange Program; Pull Ahead Program	  	 	16	 
	 SECTION 2.20.
	 	Dispute Resolution.	  	 	17	 
		
	ARTICLE III MISCELLANEOUS	  	 	20	 
			
	 SECTION 3.1.
	 	Termination of 2018-1 Servicing Supplement	  	 	20	 
	 SECTION 3.2.
	 	Amendment	  	 	20	 
	 SECTION 3.3.
	 	GOVERNING LAW	  	 	21	 
	 SECTION 3.4.
	 	Relationship of 2018-1 Servicing Supplement to Other Trust Documents	  	 	21	 
	 SECTION 3.5.
	 	[Reserved]	  	 	21	 
	 SECTION 3.6.
	 	Notices	  	 	21	 
	 SECTION 3.7.
	 	Severability of Provisions	  	 	21	 
	 SECTION 3.8.
	 	Binding Effect	  	 	22	 

  
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	 SECTION 3.9.
	 	Table of Contents and Headings	  	 	22	 
	 SECTION 3.10.
	 	Counterparts	  	 	22	 
	 SECTION 3.11.
	 	Further Assurances	  	 	22	 
	 SECTION 3.12.
	 	Third-Party Beneficiaries	  	 	22	 
	 SECTION 3.13.
	 	No Petition	  	 	22	 
	 SECTION 3.14.
	 	Limitation of Liability	  	 	22	 
	 SECTION 3.15.
	 	Preparation of Securities and Exchange Commission Filings	  	 	23	 
	 SECTION 3.16.
	 	Review Reports	  	 	23	 
	 SECTION 3.17.
	 	Regulation RR Risk Retention	  	 	23	 

 EXHIBITS 
  

			
	Exhibit A – Form of Servicer Report	 	A-1

  
 ii 

 2018-1 SERVICING SUPPLEMENT, dated as of
December 25, 2017 (as the same may be amended, restated, supplemented or otherwise modified from time to time, this “2018-1 Servicing Supplement” or this “Agreement”),
among ACAR Leasing Ltd., a Delaware statutory trust (the “Titling Trust”), AmeriCredit Financial Services, Inc. d/b/a GM Financial, a Delaware corporation (“GM Financial”), as servicer (in such capacity, the
“Servicer”), APGO Trust (“APGO”), a Delaware statutory trust, as settlor of the Titling Trust (in such capacity, the “Settlor”), and Wells Fargo Bank, National Association (“Wells
Fargo”), a national banking association, as collateral agent (in such capacity, the “Collateral Agent”) and indenture trustee (the “Indenture Trustee”). 

RECITALS 
 WHEREAS, pursuant to
an Amended and Restated Trust Agreement, dated as of January 31, 2011 (the “Titling Trust Agreement”), between the Settlor and Wilmington Trust Company, as Owner Trustee, Administrative Trustee and Delaware Trustee, the Titling
Trust was created to, among other things, take assignments and conveyances of and hold in trust various assets (the “Trust Assets”); 

WHEREAS, the Titling Trust, the Servicer, the Settlor and the Collateral Agent, have entered into a Third Amended and Restated Servicing
Agreement, dated as of January 24, 2018 (as the same may be further amended, restated, supplemented or otherwise modified from time to time, the “Basic Servicing Agreement”), which provides for, among other things, the
servicing of the Trust Assets by the Servicer; and 
 WHEREAS, the parties hereto acknowledge that in connection with the execution of the 2018-1 Exchange Note Supplement, dated as of December 25, 2017 (as the same may be amended, restated, supplemented or otherwise modified from time to time, the
“2018-1 Exchange Note Supplement”) to the Second Amended and Restated Credit and Security Agreement, dated as of January 24, 2018 (as the same may be further amended, restated,
supplemented or otherwise modified from time to time, the “Credit and Security Agreement”), each among the Titling Trust, as borrower, GM Financial, as lender and Servicer, and Wells Fargo, as Administrative Agent and Collateral
Agent, pursuant to which an Exchange Note (the “2018-1 Exchange Note”) will be created, it is necessary and desirable to enter into a supplement to the Basic Servicing Agreement to provide
for, among other things, the servicing of the Trust Assets allocated to the 2018-1 Designated Pool. 

NOW, THEREFORE, in consideration of the mutual agreements herein contained, and of other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE I 

DEFINITIONS AND INTERPRETIVE PROVISIONS 

SECTION 1.1. General Definitions. Capitalized terms used in this 2018-1 Servicing Supplement
that are not otherwise defined herein shall have the meanings assigned to them in Appendix 1 to the 2018-1 Exchange Note Supplement or, if not defined therein, in Appendix A to the Credit and Security
Agreement. The “Other Definitional Provisions” set forth in Section 1.2 of the Basic Servicing Agreement are incorporated by reference into this 2018-1 Servicing Supplement. 

 ARTICLE II 

SERVICING OF 2018-1 DESIGNATED POOL 

SECTION 2.1. Servicing of 2018-1 Designated Pool. The parties hereto agree that the Servicer
shall service, administer and make collections on the 2018-1 Designated Pool in accordance with the terms and provisions of the Basic Servicing Agreement, as amended and supplemented by the terms and
provisions of this 2018-1 Servicing Supplement. 
 SECTION 2.2. Identification of 2018-1 Lease Agreements and 2018-1 Leased Vehicles; Securitization Value. On the Closing Date, the Servicer shall identify as
2018-1 Exchange Note Assets the Lease Agreements and the Leased Vehicles relating to such Lease Agreements listed on the Schedule of 2018-1 Lease Agreements and 2018-1 Leased Vehicles attached as Schedule A to the 2018-1 Exchange Note Supplement. The Servicer shall calculate the Securitization Value for each 2018-1 Lease Agreement as of the Cutoff Date. 
 SECTION 2.3. Accounts. 

(a) The Indenture Trustee shall establish and maintain, at all times during the term of the Indenture, a
2018-1 Eligible Deposit Account in the name of and under the control of the Indenture Trustee for the benefit of the Noteholders (said account being called the
“2018-1 Exchange Note Collections Account” and being initially identified as “GM Financial 2018-1 Exchange Note Collections Account”).
Deposits to and withdrawals from the 2018-1 Exchange Note Collections Account shall be made as set forth in the 2018-1 Servicing Agreement, the 2018-1 Exchange Note Supplement and the Indenture. 
 (b) The Indenture Trustee shall establish and
maintain, at all times during the term of the Indenture, a 2018-1 Eligible Deposit Account in the name of and under the control of the Indenture Trustee for the benefit of the Noteholders (said account being
called the “Indenture Collections Account” and being initially identified as “GM Financial 2018-1 Indenture Collections Account”). Deposits to and withdrawals from the 2018-1 Indenture Collections Account shall be made as set forth in the 2018-1 Exchange Note Supplement and the Indenture. 

(c) The Indenture Trustee shall establish and maintain, at all times during the term of the Indenture, a
2018-1 Eligible Deposit Account in the name of and under the control of the Indenture Trustee for the benefit of the Noteholders (said account being called the “Note Payment Account” and being
initially identified as “GM Financial 2018-1 Note Payment Account”). Deposits to and withdrawals from the Note Payment Account shall be made as set forth in the Indenture. 

  
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 (d) The Indenture Trustee shall establish and maintain, at all times during the term of the
Indenture, a 2018-1 Eligible Deposit Account in the name of and under control of the Indenture Trustee for the benefit of the Noteholders (said account being called the “Reserve Account” and
being initially identified as “GM Financial 2018-1 Reserve Account”). 
 (e) All monies
deposited from time to time in the Accounts pursuant to this 2018-1 Servicing Supplement and the other Program Documents and the Accounts shall be held by the Indenture Trustee as part of the Indenture
Collateral and shall be applied to the purposes herein and therein provided. If any Account shall cease to be a 2018-1 Eligible Deposit Account, the Indenture Trustee shall, as necessary, assist the Servicer
in causing such Account to be moved to an institution at which it shall be a 2018-1 Eligible Deposit Account. 

(f) If, at any time, any of the Accounts ceases to be a 2018-1 Eligible Deposit Account, the Servicer
shall within thirty (30) days (or such longer period as to which the Rating Agencies rating any securities backed by the related Exchange Note may consent) establish a new Account as a 2018-1 Eligible
Deposit Account and shall transfer any cash and/or any investments on deposit or credited to such earlier existing Account into such new Account. 

(g) The Indenture Trustee or other Person holding the Accounts shall be the “Securities Intermediary” with respect to the
Accounts. If the Securities Intermediary in respect of the Accounts is not 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 2.3(g).
The Securities Intermediary agrees that: 
 (i) Each of the Accounts is an account to which “financial assets”
within the meaning of Section 8-102(a)(9) (“Financial Assets”) of the UCC in effect in the State of New York will be credited; 

(ii) All securities or other property underlying any Financial Assets credited to any Account shall be registered in the name
of the Securities Intermediary, endorsed 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 an Account be
registered in the name of the Issuer, payable to the order of the Issuer or specially endorsed to the Issuer; 
 (iii) All
property delivered to the Securities Intermediary pursuant to the 2018-1 Servicing Agreement and the Indenture will be promptly credited to the applicable Account; 

(iv) Each item of property (whether investment property, security, instrument or cash) credited to an Account shall be treated
as a Financial Asset; 

  
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 (v) 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 an Account, the Securities Intermediary shall comply with such entitlement order without further consent by the Issuer or the Servicer; 

(vi) Each Account shall be governed by the laws of the State of New York, regardless of any provision of any other agreement.
For purposes of the UCC, New York shall be deemed to be the Securities Intermediary’s jurisdiction and the 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; 

(vii) The Securities Intermediary has not entered into, and until termination of the Indenture, will not enter into, any
agreement with any other Person relating to the 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 UCC) of such other Person and the Securities Intermediary has not entered into, and until the termination of the Indenture will not enter into, any agreement with the Issuer purporting to limit or condition the obligation of the Securities
Intermediary to comply with entitlement orders as set forth in Section 2.4; and 
 (viii) Except for the claims and
interest of the Indenture Trustee and the Issuer in the Accounts, the Securities Intermediary knows of no claim to, or interest in, the 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 Accounts or in any Financial Asset carried therein, the Securities Intermediary will promptly notify the Indenture Trustee,
the Noteholders and the Issuer thereof. 
 The Indenture Trustee shall possess all right, title and interest in all funds on deposit from
time to time in the Accounts and in all proceeds thereof, and shall be the only Person authorized to originate entitlement orders in respect of the Accounts. 

SECTION 2.4. General Provisions Regarding Accounts. 

(a) So long as no Event of Default shall have occurred and be continuing, all or a portion of the funds in the
2018-1 Exchange Note Collections Account, the Indenture Collections Account, the Note Payment Account and the Reserve Account shall be invested at the direction of the Servicer in 2018-1 Permitted Investments that mature no later than the Business Day prior to the next Payment Date in the Collection Period following the Collection Period during which the investment is made. All income or
other gain from investments of monies deposited in the 2018-1 Exchange Note Collections Account, the Indenture Collections Account and the Reserve Account during a Collection Period shall be deposited into the
2018-1 Exchange Note Collections Account, the Indenture Collections Account or the Reserve Account, as applicable, on the related Payment Date, and any loss resulting from such investments shall be charged to 2018-1 Exchange Note Collections Account, the Indenture Collections Account or the Reserve 

  
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Account, as applicable. The Titling Trust will be the tax owner of the 2018-1 Exchange Note Collections Account and all investment earnings on the 2018-1 Exchange Note Collections Account will be taxable to the Titling Trust. The Issuer or, if there is a single Issuer Trust Certificateholder, such Issuer Trust Certificateholder will be the tax owner of the
Indenture Collections Account and all investment earnings on the Indenture Collections Account will be taxable to the Issuer or such Issuer Trust Certificateholder, as the case may be. The Issuer or, if there is a single Issuer Trust
Certificateholder, such Issuer Trust Certificateholder, will be the tax owner of the Reserve Account and all investment earnings on the Reserve Account will be taxable to the Issuer or such Issuer Trust Certificateholder, as the case may be. 

The Indenture Trustee will not be directed to make any investment of any funds or to sell any 2018-1
Permitted Investment held in the 2018-1 Exchange Note Collections Account, the Indenture Collections Account and the Reserve Account unless the security interest Granted and perfected in the 2018-1 Exchange Note Collections Account, the Indenture Collections Account and the Reserve Account will continue to be perfected in such 2018-1 Permitted Investment or the
proceeds of such sale, in either case without any further action by any Person. Except as directed by the Note Purchaser after the occurrence and during the continuance of an Event of Default, no such 2018-1
Permitted Investment shall be sold prior to maturity. The Servicer acknowledges that upon its written request and at no additional cost, it has the right to receive notification after the completion of each such investment or the Indenture
Trustee’s receipt of a broker’s confirmation. The Servicer agrees that such notifications will not be provided by the Indenture Trustee hereunder, and the Indenture Trustee shall make available, upon request and in lieu of notifications,
periodic account statements that reflect such investment activity. No statement need be made available if no activity has occurred in the relevant Account during such period. 

(b) If (i) the Servicer shall have failed to give investment directions for funds on deposit in the
2018-1 Exchange Note Collections Account, the Indenture Collections Account and the Reserve Account to the Indenture Trustee by 12:00 noon, New York City time (or such other time as may be agreed by the
Indenture Trustee), on any Business Day, (ii) an Event of Default shall have occurred and be continuing but the Notes shall not have been declared due and payable pursuant to Section 5.2 of the Indenture, or (iii) if the Notes shall
have been declared due and payable following an Event of Default but amounts collected or receivable from the Issuer Trust Estate are being applied as if there had not been such a declaration, then the Indenture Trustee shall hold funds on deposit
in the 2018-1 Exchange Note Collections Account, the Indenture Collections Account and the Reserve Account uninvested. 

(c) Subject to Section 6.1(c) of the Indenture, the Indenture Trustee shall not in any way be held liable by reason of any insufficiency
in the 2018-1 Exchange Note Collections Account, the Indenture Collections Account and the Reserve Account resulting from any loss on any 2018-1 Permitted Investment
included therein except for losses attributable to the Indenture Trustee as obligor as a result of the Indenture Trustee’s failure to make payments on such 2018-1 Permitted Investments issued by the
Indenture Trustee, in its commercial capacity as principal obligor and not as trustee, in accordance with their terms. 

  
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 SECTION 2.5. Reallocation and Repurchase of 2018-1
Lease Agreements and 2018-1 Leased Vehicles; Purchase of Matured Vehicles. 
 (a) In the event
the Servicer (i) grants an extension with respect to any 2018-1 Lease Agreement that is inconsistent with the Customary Servicing Practices or that extends the term of such
2018-1 Lease Agreement past the Exchange Note Final Scheduled Payment Date, (ii) modifies any 2018-1 Lease Agreement to change the related Contract Residual Value
or Monthly Payment, or (iii) is notified the Titling Trust no longer owns any 2018-1 Leased Vehicle, except to the extent that any such modification listed in clauses (i) and (ii) of this
Section 2.5(a) is required by law or court order, the Servicer shall, on the Deposit Date related to the Collection Period in which such extension was granted, modification was made or notice was received, as applicable, cause the reallocation
of the affected 2018-1 Lease Agreement and the related 2018-1 Leased Vehicle to the Lending Facility Pool by depositing to the
2018-1 Exchange Note Collections Account an amount equal to the Repurchase Payment with respect to such 2018-1 Lease Agreement and the related 2018-1 Leased Vehicle. 
 (b) Upon (i) discovery by the Servicer, the Depositor or any Noteholder, or
(ii) the receipt of written notice by or actual knowledge of an Authorized Officer of the Owner Trustee or Indenture Trustee, that any representation or warranty contained in Section 2.12 was incorrect in respect of any 2018-1 Lease Agreement or the related 2018-1 Leased Vehicle as of the Cutoff Date or the 2018-1 Closing Date, as applicable, in a
manner that materially adversely affects the interest of the Issuer or the Noteholders in such 2018-1 Lease Agreement or such 2018-1 Leased Vehicle, the entity
discovering such incorrectness, (i) in the case such entity is a Noteholder, may and (ii) in the case such entity is the Depositor, Owner Trustee or Indenture Trustee, shall give prompt written notice to the Servicer requesting that the
Servicer reallocate the affected 2018-1 Lease Agreement and the related 2018-1 Leased Vehicle to the Lending Facility Pool; provided, that if the
Noteholder providing such notice is not a Noteholder of record, such Noteholder must provide the Servicer with a written certification stating that it is a beneficial owner of a Note, together with supporting documentation supporting that statement
(which may include, but is not limited to, a trade confirmation, an account statement or a letter from a broker or dealer verifying ownership) together with such notice. If Noteholders representing five percent or more of the Outstanding Amount of
the most senior Class of Notes inform the Indenture Trustee, by notice in writing, of any breach of the Servicer’s representations and warranties made pursuant to Section 2.12(c), the Indenture Trustee shall
inform the Servicer in the manner specified in the preceding sentence on behalf of such Noteholders. By no later than the end of the Collection Period including the date that is two (2) months after the date on which the Servicer discovers or
is notified of such incorrectness, the Servicer shall cure in all material respects the circumstance or condition with respect to which the representation or warranty was incorrect as of the Cutoff Date or the
2018-1 Closing Date, as applicable. If the Servicer does not cure such circumstance or condition by such date, then the Servicer shall cause the reallocation of the affected
2018-1 Lease Agreement and the related 2018-1 Leased Vehicle to the Lending Facility Pool by depositing to the 2018-1 Exchange
Note Collections Account on the Deposit Date relating to the next succeeding Payment Date an amount equal to the Repurchase Payment with respect to such 2018-1 Lease Agreement and the related 2018-1 Leased Vehicle. The Indenture Trustee will (i) notify the Servicer, GM Financial and the Depositor, as soon as practicable and in any event 

  
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within five (5) Business Days and in the manner set forth for providing notices hereunder, of all demands or requests communicated (in writing or orally) to the Trustee for the reallocation
of any 2018-1 Lease Agreement and the related 2018-1 Leased Vehicle pursuant to this clause (b), (ii) promptly upon request by the Servicer, GM Financial or the
Depositor, provide to them any other information reasonably requested to facilitate compliance by them with Rule 15Ga-1 under the Exchange Act and Items 1104(e) and 1121(c) of Regulation AB, and (iii) if
requested by the Servicer, GM Financial or the Depositor, provide a written certification no later than fifteen (15) days following any calendar quarter or calendar year that the Trustee has not received any reallocation demands for such
period, or if reallocation demands have been received during such period, that the Trustee has provided all the information reasonably requested under clause (ii) above with respect to such demands. In no event will the Trustee or the Issuer
have any responsibility or liability in connection with any filing required to be made by a securitizer under the Exchange Act or Regulation AB. 

(c) Notwithstanding the provisions of Section 2.6(b) of the Basic Servicing Agreement, if the Servicer discovers a breach, or is provided
with any notice of a breach pursuant to such section, regarding a Lease Agreement or Leased Vehicle that is a 2018-1 Lease Agreement or 2018-1 Leased Vehicle on the date
that such breach is discovered or such notice is provided, the Servicer shall be obligated to take the actions described in such Section 2.6(b) by no later than the Payment Date following the Collection Period in which the related breach is
discovered or the related notice is provided (rather than by the Payment Date following the Collection Period that ends at least thirty (30) days after the Servicer discovers or is notified of such breach). 

(d) The Servicer shall provide written notice to the Indenture Trustee and the Noteholders of each reallocation to the Lending Facility Pool of
a 2018-1 Lease Agreement and the related 2018-1 Leased Vehicle pursuant to Section 2.5(a) or (b) that was made during a Collection Period in the Servicer
Report that is delivered for such Collection Period. 
 (e) The Servicer may purchase any 2018-1
Leased Vehicle that becomes a Matured Vehicle pursuant to Section 2.6(f) of the Basic Servicing Agreement for a purchase price equal to the Contract Residual Value of the related 2018-1 Lease Agreement.

 (f) The obligation of the Servicer under this Section 2.5 shall survive any termination of the Servicer hereunder. 

(g) For so long as the Notes are Outstanding, the Servicer will not be permitted to reallocate any
2018-1 Lease Agreements and related 2018-1 Leased Vehicles from the 2018-1 Designated Pool to the Lending Facility Pool except in
accordance with the terms of this Section 2.5 and Section 3.1 of the 2018-1 Exchange Note Supplement. 

(h) If a Lessee changes its domicile and such change would reasonably be expected to result in the Titling Trust doing business in a
jurisdiction in which it is not licensed and authorized to conduct business in the manner contemplated by the Program Documents, then on the Payment Date related to the Collection Period that ends at least thirty (30) days after the Servicer
discovers or is notified of such change, the Servicer shall purchase such 2018-1 Lease Agreement and the related 2018-1 Leased Vehicle by either (i) depositing to
the Indenture Collections Account an amount equal to the Repurchase Payment, or (ii) appropriately segregating and designating an amount equal to the Repurchase Payment on its records, pending application thereof pursuant to 2018-1 Servicing Agreement. 

  
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 SECTION 2.6. 2018-1 Designated Pool Collections.

 (a) The Servicer shall, with respect to all 2018-1 Designated Pool Collections, from time to time
determine the amount of such 2018-1 Designated Pool Collections and during each Collection Period shall deposit all such 2018-1 Designated Pool Collections in the 2018-1 Exchange Note Collections Account when required pursuant to clause (b). 
 (b) Notwithstanding
Section 2.7(b) of the Basic Servicing Agreement, the Servicer shall remit, or shall cause its agent to remit, all 2018-1 Designated Pool Collections to the 2018-1
Exchange Note Collections Account by the close of business on the second (2nd) Business Day after receipt thereof or, in the case of any 2018-1 Designated Pool Collections received by the Servicer or such
agent for which the Servicer or such agent, as applicable, does not have all Payment Information by the close of business on such second (2nd) Business Day, by the close of business on the day on which all such Payment Information is received.
Pending deposit into the 2018-1 Exchange Note Collections Account, 2018-1 Designated Pool Collections may be employed by the Servicer at its own risk and for its own
benefit and need not be segregated from its own funds. 
 SECTION 2.7. Servicing Compensation; Expenses. As compensation for the
performance of its obligations under the 2018-1 Servicing Agreement, on each Payment Date the Servicer shall be entitled to receive a fee for its performance during the immediately preceding Collection Period
or, with respect to the first Payment Date, the period from and excluding the Cutoff Date to and including February 28, 2018 (the “Designated Pool Servicing Fee”) in accordance with Article V of the 2018-1 Exchange Note Supplement in an amount equal the sum of (x) to the product of (i) one-twelfth (1/12th)
(or, with respect to the first Payment Date, a fraction equal to the number of days from and excluding the Cutoff Date through and including February 28, 2018, over 360), times (ii) the Servicing Fee Rate, times
(iii) the Aggregate Securitization Value as of the opening of business on the first day of such Collection Period, plus (y) any Administrative Charges collected on the 2018-1 Lease Agreements
and 2018-1 Leased Vehicles and any other expenses reimbursable to the Servicer. 
 SECTION 2.8.
Third Party Claims. In addition to the requirements set forth in Section 2.14 of the Basic Servicing Agreement, upon learning of a Claim or Lien of whatever kind of a third party that would be likely to have a material adverse effect on
the interests of the Depositor or the Issuer with respect to the 2018-1 Exchange Note Assets, the Servicer shall immediately notify the Depositor, the Indenture Trustee and the Noteholders of any such Claim or
Lien. 

  
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 SECTION 2.9. Reporting by the Servicer; Delivery of Certain Documentation; Inspection;
Asset-Level Information. 
 (a) On each Determination Date, prior to 12:00 p.m. (Central time), the Issuer shall cause the Servicer to
deliver to the Indenture Trustee, the Titling Trust and the Collateral Agent, a Servicer Report with respect to the next Payment Date and the related Collection Period. The Issuer shall also cause the Servicer to deliver a Servicer Report to each
Rating Agency on the same date the Servicer Report is publicly available (provided that if the Servicer Report is not made publicly available, the Servicer will deliver it to each Rating Agency, no later than the twenty-second (22nd) of each month (or if not a Business Day, the next succeeding Business Day)). Solely in the case of the Servicer Report delivered on the first Determination Date, such Servicer Report will contain
the disclosure required by Rule 4(c)(1)(ii) of Regulation RR, 17 C.F.R. §246.1, et seq. (the “Credit Risk Retention Rules”). Notwithstanding Section 3.2(a) of the Basic Servicing Agreement, the Servicer shall deliver such
Servicer Reports in accordance with this Section 2.9 until the date on which the Notes are no longer Outstanding. 
 (b) In addition to
the report with respect to the 2018-1 Exchange Note which the Servicer is obligated to deliver pursuant to Section 3.1(c) of the Basic Servicing Agreement, the Servicer shall deliver to the Depositor, the
Indenture Trustee and the Titling Trust, on or before March 31 (or ninety (90) days after the end of the Servicer’s fiscal year, if other than December 31) of each year, beginning March 31, 2019, an Officer’s Certificate,
dated as of March 31 (or other applicable date) of such year, stating that (i) a review of the activities of the Servicer during the preceding twelve (12) month period (or such other period in the case of the first such report as
shall have elapsed from the Closing Date to the date of the first such Officer’s Certificate) and of its performance under the 2018-1 Servicing Agreement has been made under such officer’s
supervision, and (ii) to such officer’s knowledge, based on such review, the Servicer has fulfilled all its obligations under the 2018-1 Servicing Agreement throughout such period, or, if there has
been a default in the fulfillment of any such obligation, specifying each such default known to such officer and the nature and status thereof. 

(c) The Servicer will deliver to the Issuer, on or before March 31 of each year, beginning on March 31, 2019, a report regarding the
Servicer’s assessment of compliance with certain minimum servicing criteria during the immediately preceding calendar year, as required under Rules 13a-18 and
15d-18 of the Exchange Act and Item 1122 of Regulation AB. 
 (d) To the extent required by
Regulation AB, the Servicer will cause any affiliated servicer or any other party deemed to be participating in the servicing function pursuant to Item 1122 of Regulation AB to provide to the Issuer, on or before March 31 of each year,
beginning on March 31, 2019, a report regarding such party’s assessment of compliance with certain minimum servicing criteria during the immediately preceding calendar year, as required under Rules
13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB. 

(e) Each of Wells Fargo Bank, National Association, in its capacity as Collateral Agent under this
2018-1 Servicing Supplement and in its capacity as Indenture Trustee under the Program Documents, acknowledges that to the extent it is deemed to be participating in the

  
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servicing function pursuant to Item 1122 of Regulation AB, it will take any action reasonably requested by the Servicer to ensure compliance with the requirements of Section 2.9(d) and
Section 2.10(b) hereof and with Item 1122 of Regulation AB. Such required documentation will be delivered to the Servicer by March 15 of each calendar year. 

(f) The Servicer shall deliver copies of all reports, notices and certificates delivered by it pursuant to the
2018-1 Servicing Agreement to the Depositor, the Indenture Trustee and the Titling Trust on the date or dates due, including any notice of material failure given pursuant to Section 2.2(a) of the Basic
Servicing Agreement and the Officer’s Certificate relating to the 2018-1 Exchange Note delivered by it pursuant to Section 2.9(b) of this 2018-1 Servicing
Supplement. 
 (g) On or before the fifteenth (15th) day following each Payment Date,
the Servicer will prepare a Form ABS-EE, including an asset data file and asset-related document containing the asset-level information for each 2018-1 Exchange Note
Asset for the prior Collection Period as required by Item 1A of Form 10-D. 
 SECTION 2.10.
Annual Independent Accountant’s Report. 
 (a) The Servicer shall cause the cause a firm of nationally recognized independent
certified public accountants (the “Independent Accountants”), who may also render other services to the Servicer or its Affiliates, to deliver to the Indenture Trustee, the Owner Trustee and the Collateral Agent, on or before
March 31 (or 90 days after the end of the Issuer’s fiscal year, if other than December 31) of each year, beginning in March 31, 2019, a report with respect to the preceding calendar year, addressed to the board of directors of the
Servicer, providing its attestation report on the servicing assessment delivered pursuant to Section 2.9(c), including disclosure of any material instance of non-compliance, as required by Rule 13a-18 and 15d-18 of the Exchange Act and Item 1122(b) of Regulation AB. Such attestation will be in accordance with Rules 1-02(a)(3)
and 2-02(g) of Regulation S-X under the Securities Act and the Exchange Act. 

(b) Each party required to deliver an assessment of compliance described in Section 2.9(d) shall cause Independent Accountants, who may
also render other services to such party or its Affiliates, to deliver to the Indenture Trustee, the Owner Trustee, the Collateral Agent and the Servicer, on or before March 31 (or 90 days after the end of the Issuer’s fiscal year, if
other than December 31) of each year, beginning in March 31, 2019, a report with respect to the preceding calendar year, addressed to the board of directors of such party, providing its attestation report on the servicing assessment delivered
pursuant to Section 2.9(d), including disclosure of any material instance of non-compliance, as required by Rule 13a-18 and
15d-18 of the Exchange Act and Item 1122(b) of Regulation AB. Such attestation will be in accordance with Rules 1-02(a)(3) and
2-02(g) of Regulation S-X under the Securities Act and the Exchange Act. 

(c) The Servicer shall cause the Independent Accountants to deliver to the Depositor, the Indenture Trustee, the Issuer and the Titling Trust,
on or before April 30 (or one-hundred and twenty (120) days after the end of the Servicer’s fiscal year, if other than December 31) of each 

  
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year, beginning on April 30, 2019 with respect to the twelve (12) months ended the immediately preceding December 31 (or other applicable date) (or such other period as shall have
elapsed from the 2018-1 Closing Date to the date of such certificate (which period shall not be less than six (6) months)), a statement (the “Accountants’ Report”) addressed to the
Board of Directors of the Servicer, to the effect that such firm has audited the books and records of GM Financial, in which the Servicer is included as a consolidated subsidiary, and issued its report thereon in connection with the audit report on
the consolidated financial statements of GM Financial and that (i) such audit was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as
such firm considered necessary in the circumstances, and (ii) the firm is independent of the Servicer within the meaning of the Code of Professional Ethics of the American Institute of Certified Public Accountants. 

SECTION 2.11. Servicer Defaults; Termination of the Servicer. 

(a) Each of the following acts or occurrences constitutes a “Servicer Default” under the
2018-1 Servicing Agreement with respect to the 2018-1 Exchange Note: 

(i) any failure by the Servicer to deposit in the 2018-1 Exchange Note Collections
Account any required payment, any failure by the Servicer to make or cause the Titling Trust to make any required payments from the 2018-1 Exchange Note Collections Account on account of the 2018-1 Exchange Note or any failure of the Servicer to make any required payment under any other Program Document, which failure continues unremedied for a period of five (5) Business Days after the earlier of
the date on which (1) notice of such failure is given to the Servicer by the Indenture Trustee, or (2) an Authorized Officer of the Servicer has actual knowledge of such failure; 

(ii) any failure by the Servicer duly to observe or to perform any covenants or agreements of the Servicer set forth in the 2018-1 Servicing Agreement or any other Program Document (other than a covenant or agreement a default in the observance or performance of which is elsewhere in this Section specifically dealt with), which failure
shall materially and adversely affects the interests of the 2018-1 Secured Parties and shall continue unremedied for a period of sixty (60) days after written notice of such failure is received by the
Servicer from the Indenture Trustee or after discovery of such failure by the Servicer; 
 (iii) any representation or
warranty made or deemed made by the Servicer in the 2018-1 Servicing Agreement or in any other Program Document or which is contained in any certificate, document or financial or other statement furnished at
any time under or in connection herewith or therewith shall prove to have been incorrect, and such incorrectness has a material adverse effect on the interests of the 2018-1 Secured Parties or the Issuer which
failure, if capable of being cured, has not been cured for a period of sixty (60) days after written notice of such breach is received by the Servicer from the Indenture Trustee or after discovery of such breach by the Servicer; or 

  
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 (iv) an Insolvency Event occurs with respect to the Servicer. 

(b) Promptly after having obtained knowledge of any Servicer Default, but in no event later than two (2) Business Days thereafter, the
Servicer shall deliver to the Indenture Trustee and the Noteholders, written notice thereof in an Officer’s Certificate, accompanied in each case by a description of the nature of the default and the efforts of the Servicer to remedy the same.

 (c) In addition to the provisions of Section 4.1(d) of the Basic Servicing Agreement, if a Servicer Default shall have occurred and
be continuing with respect to the 2018-1 Exchange Note, the Titling Trust shall, acting at the written direction of the Majority Noteholders, or, if there are no Notes Outstanding, the Titling Trust, acting at
the direction of Issuer Trust Certificateholder, by notice given to the Servicer, terminate the rights and obligations of the Servicer under the 2018-1 Servicing Agreement in accordance with such Section and
the Indenture Trustee, acting at the written direction of the Majority Noteholders, shall appoint a Successor Servicer to fulfill the obligations of the Servicer hereunder in respect of the 2018-1 Lease
Agreements and 2018-1 Leased Vehicles. Any such Person shall accept its appointment by a written assumption in a form acceptable to the Indenture Trustee. In the event the Servicer is removed as servicer of
the 2018-1 Exchange Note Assets, (i) the Servicer shall deliver or cause to be delivered to or at the direction of the Successor Servicer all Lease Documents with respect to the 2018-1 Lease Agreements and the 2018-1 Leased Vehicles that are then in the possession of the Servicer, (ii) the Servicer shall deliver or cause to be delivered to or at
the direction of the Successor Servicer all Security Deposits held by the Servicer with respect to the 2018-1 Exchange Note Assets, and (iii) the Servicer shall deliver to the Successor Servicer all
servicing records directly maintained by the Servicer, containing as of the close of business on the date of demand all of the data maintained by the Servicer, in computer format in connection with servicing the
2018-1 Exchange Note Assets. If no Person has accepted its appointment as Successor Servicer when the predecessor Servicer ceases to act as Servicer in accordance with this Section 2.11, the Indenture
Trustee, will, without further action, be automatically appointed the Successor Servicer. Notwithstanding the above, if the Indenture Trustee is unwilling or legally unable to act as Successor Servicer, it may appoint, or petition a court of
competent jurisdiction to appoint, an institution whose business includes the servicing of lease agreements and the related lease assets, as Successor Servicer. The Indenture Trustee will be released from its duties and obligations as Successor
Servicer on the date that a new servicer agrees to appointment as Successor Servicer hereunder. All reasonable costs and expenses incurred in connection with transferring the servicing of the 2018-1 Exchange
Note Assets 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. Any
Successor Servicer shall be entitled to such compensation as the Servicer would have been entitled to under this 2018-1 Servicing Supplement if the Servicer had not resigned or been terminated hereunder or
such additional compensation as the Majority Noteholders and such Successor Servicer may agree on. 
 (d) Notwithstanding the provisions of
Section 4.1(f) of the Basic Servicing Agreement, with respect to any Servicer Default related to the 2018-1 Exchange Note Assets, only the Indenture Trustee, acting at the written direction of the
Majority Noteholders, or, if there are no Notes Outstanding, the Titling Trust, acting at the direction of the Issuer Trust 

  
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Certificateholder, may waive any default of the Servicer in the performance of its obligations under the 2018-1 Servicing Agreement and its consequences
with respect to the 2018-1 Exchange Note and, upon any such waiver, such default shall cease to exist and any Servicer Default arising therefrom shall be deemed to have been remedied for every purpose of the 2018-1 Exchange Note Servicing Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereto. 

SECTION 2.12. Representations and Warranties. The Servicer makes the following representations and warranties to the Depositor, the
Indenture Trustee and the Noteholders as of the 2018-1 Closing Date: 
 (a) The representations and
warranties contained in Section 2.6(a) of the Basic Servicing Agreement as to each 2018-1 Lease Agreement and the related 2018-1 Leased Vehicle were true and
correct as of the Cutoff Date; 
 (b) The representations and warranties set forth in Section 5.1 of the Basic Servicing Agreement are
true and correct as of the date hereof; 
 (c) Each 2018-1 Lease Agreement and 2018-1 Leased Vehicle is an Eligible Collateral Asset as of the date hereof; 
 (d) All information
heretofore furnished by the Servicer or any of its Affiliates to the Indenture Trustee or the Owner Trustee for purposes of or in connection with the 2018-1 Servicing Agreement or any of the other Program
Documents or any transaction contemplated hereby or thereby is, and all information hereafter furnished by the Servicer or any of its Affiliates to the Indenture Trustee, the Owner Trustee or any of the Noteholders will be, (i) true and
accurate in every material respect on the date such information is stated or certified, and (ii) does not and will not contain any material misstatement of fact or omit to state a material fact or any fact necessary to make the statements
contained therein misleading, in the case of each of (i) and (ii) when taken together with all other information provided on or prior to the date hereof; and 

(e) No Servicer Default or event which with the giving of notice or lapse of time, or both, would become a Servicer Default has occurred and is
continuing as of the 2018-1 Closing Date. 
 (f) With respect to any
2018-1 Lease Agreement that constitutes “electronic chattel paper” under the UCC, the Servicer, as custodian of the Lease Documents relating to the 2018-1
Designated Pool, maintains control of a single electronically authenticated authoritative copy of the related 2018-1 Lease Agreement. 

  
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 SECTION 2.13. Custody of Lease Documents. 

(a) Pursuant to Section 2.3 of the Basic Servicing Agreement, the Servicer, either directly or through an agent, will act as custodian of
the Lease Documents relating to the 2018-1 Designated Pool, as agent and bailee for the benefit of the Issuer and the Indenture Trustee. All Lease Documents relating to the
2018-1 Designated Pool shall be identified and maintained in such a manner so as to permit retrieval and access. If a Successor Servicer has been appointed hereunder, the Servicer shall promptly deliver all
such Lease Documents to the Successor Servicer. If the Servicer is terminated under the 2018-1 Servicing Agreement upon the occurrence of a Servicer Default, the costs associated with transferring all such
Lease Documents shall be paid by the Servicer. 
 (b) With respect to any 2018-1 Lease Agreement that
constitutes “electronic chattel paper” under the UCC, the Servicer, as custodian of the Lease Documents relating to the 2018-1 Designated Pool, shall at all times maintain control of a single
electronically authenticated authoritative copy of the related 2018-1 Lease Agreement. 
 (c) In
accordance with Section 2.10(h)(ii) of the Indenture and with respect to any Indenture Collateral that constitutes an instrument or tangible chattel paper, the Servicer, as custodian of the Lease Documents relating to the 2018-1 Designated Pool, acknowledges that it is holding such instruments and tangible chattel paper solely on behalf and for the benefit of the Indenture Trustee. 

SECTION 2.14. Reserve Account. 

(a) On the 2018-1 Closing Date, GMF Leasing LLC shall deposit the Specified Reserve Balance into the
Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Indenture Trustee for the benefit of the Noteholders. 

(b) On each Payment Date (i) if the amount on deposit in the Reserve Account (without taking into account any amount on deposit in the
Reserve Account representing net investment earnings) is less than the Specified Reserve Balance, then the Indenture Trustee shall, after payment of any amounts required to be distributed pursuant to clauses (i) through (xiv) of
Section 8.3(a) of the Indenture, deposit in the Reserve Account the Reserve Account Required Amount pursuant to Section 8.3(a)(xv) of the Indenture, and (ii) if the amount on deposit in the Reserve Account, after giving effect to all
other deposits thereto and withdrawals therefrom to be made on such Payment Date is greater than the Specified Reserve Balance, in which case the Indenture Trustee shall distribute the amount of such excess as part of Available Funds on such Payment
Date. 
 (c) On each Payment Date, the Servicer shall instruct the Indenture Trustee to withdraw the Reserve Account Withdrawal Amount from
the Reserve Account and deposit such amounts in the Indenture Collections Account to be included as Total Available Funds for that Payment Date. 

SECTION 2.15. Liability of Successor Servicer. No Successor Servicer will have any responsibility and will not be in default hereunder
or incur any liability for any failure, error, malfunction or any delay in carrying out any of their duties under this Supplement if such failure or delay results from such Successor Servicer acting 

  
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in accordance with information prepared or supplied by any Person other than the Successor Servicer or the failure of any such other Person to prepare or provide such information. No Successor
Servicer will have any responsibility for and will not be in default and will incur no liability for, (a) any act or failure to act of any third party, including the Servicer, (b) any inaccuracy or omission in a notice or communication
received by such Successor Servicer from any third party, (c) the invalidity or unenforceability of any 2018-1 Lease Agreement under applicable law, (d) the breach or inaccuracy of any representation
or warranty made with respect to any 2018-1 Lease Agreement or 2018-1 Leased Vehicle, or (e) the acts or omissions of any successor to it as Successor Servicer.

 SECTION 2.16. Merger or Consolidation of, or Assumption of Obligations of the Servicer. Notwithstanding the provisions of
Section 5.3 of the Basic Servicing Agreement, GM Financial shall not merge or consolidate with any other Person, convey, transfer or lease substantially all its assets as an entirety to another Person, or permit any other Person to become the
successor to GM Financial’s business unless, after the merger, consolidation, conveyance, transfer, lease or succession, the successor or surviving entity shall be capable of fulfilling the duties of GM Financial contained in this Agreement.
Any corporation (a) into which GM Financial may be merged or consolidated, (b) resulting from any merger or consolidation to which GM Financial shall be a party, (c) which acquires by conveyance, transfer, or lease substantially all
of the assets of GM Financial, or (d) succeeding to the business of GM Financial, in any of the foregoing cases shall execute an agreement of assumption to perform every obligation of GM Financial under this Agreement and, whether or not such
assumption agreement is executed, shall be the successor to GM Financial under this Agreement without the execution or filing of any paper or any further act on the part of any of the parties to this Agreement, anything in this Agreement to the
contrary notwithstanding; provided, however, that nothing contained herein shall be deemed to release GM Financial from any obligation. GM Financial shall provide notice of any merger, consolidation or succession pursuant to this
Section to the Owner Trustee, the Indenture Trustee and the Noteholders. Notwithstanding the foregoing, GM Financial shall not merge or consolidate with any other Person or permit any other Person to become a successor to GM Financial’s
business, unless (x) immediately after giving effect to such transaction, no representation or warranty made pursuant to Section 2.12 shall have been breached (for purposes hereof, such representations and warranties shall speak as of the
date of the consummation of such transaction), (y) GM Financial shall have delivered to the Owner Trustee, the Indenture Trustee and the Noteholders an Officer’s Certificate and an Opinion of Counsel each stating that such consolidation, merger
or succession and such agreement of assumption comply with this Section and that all conditions precedent, if any, provided for in this Agreement relating to such transaction have been complied with, and (z) GM Financial shall have delivered to
the Owner Trustee, the Collateral Agent and the Indenture Trustee an Opinion of Counsel stating, in the opinion of such counsel, either that (i) all financing statements and continuation statements and amendments thereto have been executed and
filed that are necessary to preserve and protect the interest of the Trust in the 2018-1 Exchange Note and the Other Conveyed Property (and reciting the details of the filings), or (ii) no such action
shall be necessary to preserve and protect such interest. 

  
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 SECTION 2.17. Resignation of the Servicer. Notwithstanding Section 5.4 of the Basic
Servicing Agreement, the Servicer shall not resign as Servicer under the 2018-1 Servicing Agreement except if it is prohibited by law from performing its obligations in respect of the 2018-1 Exchange Note Assets under the Basic Servicing Agreement or hereunder and delivers to the Trustee, the Indenture Trustee and the Noteholders an Opinion of Counsel to such effect concurrently with the delivery
of any notice of resignation pursuant to Section 5.4 of the Basic Servicing Agreement. 
 SECTION 2.18. Separate Existence. The
Servicer shall take all reasonable steps to maintain the Titling Trust’s, the Settlor’s, the Depositor’s and the Issuer’s identities as separate legal entities, and shall make it manifest to third parties that each of the Titling
Trust, the Settlor, the Depositor and the Issuer is an entity with assets and liabilities distinct from those of the Servicer and not a division of the Servicer. All transactions and dealings between the Servicer, on the one hand, and the Settlor,
the Titling Trust, the Depositor and the Issuer, on the other hand, will be conducted on an arm’s-length basis. The Servicer shall take all other actions necessary on its part to ensure that the Depositor
complies with Section 2.5(d) of the Exchange Note Transfer Agreement and, to the extent within its control, take all action necessary to ensure that the Issuer complies with Section 3.16 of the Indenture. The Servicer shall take all action
necessary to ensure that the Titling Trust shall not take any of the following actions: 
 (a) engage in any business other than that
contemplated by the Titling Trust Agreement or enter into any transaction or indenture, mortgage, instrument, agreement, contract, lease or other undertaking which is not directly or indirectly related to the transactions contemplated by the Titling
Trust Documents; and 
 (b) issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any obligations,
liabilities or responsibilities other than as set forth in the Titling Trust Documents. 
 SECTION 2.19. Like Kind Exchange Program; Pull
Ahead Program. 
 (a) Notwithstanding the provisions of the Basic Servicing Agreement, a 2018-1
Leased Vehicle may be reallocated from the 2018-1 Designated Pool to the Lending Facility Pool in connection with a Like Kind Exchange if the full Base Residual Value of the related 2018-1 Leased Vehicle is deposited to the 2018-1 Exchange Note Collections Account by no later than the second (2nd)
Business Day following the date of such reallocation; provided, that if the Net Liquidation Proceeds with respect to such 2018-1 Leased Vehicle are determined prior to the deposit of such Base Residual
Value to the 2018-1 Exchange Note Collections Account, then such Net Liquidation Proceeds may instead be deposited to the 2018-1 Exchange Note Collections Account in
full satisfaction of this Section 2.19(a). If the Servicer has deposited the full Base Residual Value of a 2018-1 Leased Vehicle to the 2018-1 Exchange Note
Collections Account in connection with a Like Kind Exchange and (i) the related Net Liquidation Proceeds are determined thereafter to be less than such Base Residual Value, then the Servicer shall be

  
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permitted to withdraw the excess of the related Base Residual Value so deposited over the related Net Liquidation Proceeds from the 2018-1 Exchange Note
Collections Account for its own account, and (ii) the related Net Liquidation Proceeds are determined thereafter to be greater than such Base Residual Value, then the Servicer shall be obligated to deposit the excess of the related Net
Liquidation Proceeds over the Base Residual Value to the 2018-1 Exchange Note Collections Account from its own funds by no later than the second (2nd)
Business Day following the date on which such Net Liquidation Proceeds are determined. 
 (b) Notwithstanding the provisions of the Basic
Servicing Agreement, a 2018-1 Lease Agreement may be a Pull Ahead Lease Agreement pursuant to a Pull Ahead Program if all amounts due and payable under the related
2018-1 Lease Agreement (other than (i) Excess Mileage/Wear and Tear Fees, which shall be charged to such Lessee to the extent applicable in accordance with the terms of such
2018-1 Lease Agreement and the Servicer’s Customary Servicing Practices, and (ii) Monthly Payments that are waived in connection with such Lessee’s participation in the Pull Ahead Program and in
connection with which a Pull Ahead Payment is received by the Titling Trust or by the Servicer on its behalf and allocated to the 2018-1 Exchange Note Collections Account) are deposited to the 2018-1 Exchange Note Collections Account by no later than the second (2nd) Business Day following the date that such
2018-1 Lease Agreement would terminate pursuant to the Pull Ahead Program. The Servicer will not be entitled to reimbursement from any 2018-1 Designated Pool Collections
for any amounts that it deposits to the 2018-1 Collections Account from its own funds in connection with any Pull Ahead Lease Agreement. 

SECTION 2.20. Dispute Resolution. 

(a) If the Owner Trustee, the Indenture Trustee, any Noteholder, the Depositor or the Indenture Trustee on behalf of certain Noteholders in
accordance with Section 2.5(b) hereof has requested that the Servicer reallocate any 2018-1 Lease Agreement and the related 2018-1 Leased Vehicle to the Lending
Facility Pool pursuant to Section 2.5(b) hereof due to an alleged breach of a representation and warranty with respect to such 2018-1 Lease Agreement and the related
2018-1 Leased Vehicle (each, a “Reallocation Request”), and the Reallocation Request has not been resolved within 180 days of the receipt of notice of the Reallocation Request by the Servicer
(which resolution may take the form of a reallocation of the related 2018-1 Lease Agreement and the related 2018-1 Leased Vehicle to the Lending Facility Pool against
payment of the related Repurchase Amount by GM Financial, a withdrawal of the related Reallocation Request by the party that originally requested the reallocation or a cure of the condition that led to the related breach in the manner set forth
herein), then the Servicer or Depositor shall describe the unresolved Reallocation Request on the Form 10-D that is filed that relates to the Collection Period during with the related 180-day period ended, and any of the party that originally requested the reallocation, any Noteholder or the Indenture Trustee on behalf of certain Noteholders in accordance with the following sentence (any such
Person, a “Requesting Party”) may refer the matter, in its discretion, to either mediation (including non-binding arbitration) or binding third-party arbitration; provided, that if the
Noteholder seeking to refer the matter to mediation or arbitration is not a Noteholder of record, such Noteholder must provide the Servicer and the Indenture Trustee with a written certification stating that it is a beneficial owner of a Note,
together with supporting documentation supporting that statement (which may include, but is not limited to, a trade confirmation, an account statement or a letter from a broker or dealer 

  
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verifying ownership) before the Servicer will be obligated to participate in the related mediation or arbitration. Noteholders representing five percent or more of the Outstanding Amount of the
most senior Class of Notes may direct the Indenture Trustee, by notice in writing, in relation to any matter described in the preceding sentence, to initiate either mediation (including non-binding
arbitration) or binding third party arbitration, as directed by such Noteholders, on behalf of such Noteholders and to conduct such mediation or arbitration pursuant to instructions provided by such Noteholders in accordance with the Indenture. The
Requesting Party shall provide notice to the Sponsor and the Depositor and refer the matter to mediation or arbitration according to the ADR Rules of the ADR Organization within 90 days following the date on which the Form 10-D is filed that relates to the Collection Period during which the related 180-day period ended. The Servicer agrees to participate in the dispute resolution method selected
by the Requesting Party. 
 (b) If the Requesting Party selects mediation for dispute resolution: 

(i) The mediation will be administered by the ADR Organization using its ADR Rules. However, if any ADR Rules are inconsistent
with the procedures for mediation stated in this Section 2.20, the procedures in this Section 2.20 will control. 

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

(iii) Commercially reasonable efforts shall be used to begin the mediation within 15 Business Days after the selection of the
mediator and conclude within 30 days after the start of the mediation. 
 (iv) Expenses of the mediation will be allocated to
the parties as mutually agreed by them as part of the mediation. 
 (v) If the parties fail to agree at the completion of the
mediation, the Requesting Party may refer the Reallocation Request to arbitration under this Section 3.13 or may initiate litigation regarding such Reallocation Request. 

(c) If the Requesting Party selects arbitration for dispute resolution: 

(i) The arbitration will be administered by the ADR Organization using its ADR Rules. However, if any ADR Rules are
inconsistent with the procedures for arbitration stated in this Section 2.20, the procedures in this Section 2.20 will control. 

(ii) A single arbitrator will be selected by the ADR Organization from a list of neutrals maintained by it according to the ADR
Rules. The arbitrator must be an attorney admitted to practice in the State of New York and have at least 15 years of experience in commercial litigation and, if possible, consumer finance or asset-backed securitization matters. The arbitrator will
be independent and impartial and will comply with the Code of Ethics for Arbitrators in Commercial Disputes in effect at the time of the arbitration. 

  
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Before accepting an appointment, the arbitrator must promptly disclose any circumstances likely to create a reasonable inference of bias or conflict of interest or likely to preclude completion
of the proceedings within the stated time schedule.    The arbitrator may be removed by the ADR Organization for cause consisting of actual bias, conflict of interest or other serious potential for conflict. 

(iii) The arbitrator will have the authority to schedule, hear and determine any motions, according to New York law, and will
do so at the motion of any party. Discovery will be completed with 30 days of selection of the arbitrator and will be limited for each party to two witness depositions, each not to exceed five hours, two interrogatories, one document request and one
request for admissions. However, the arbitrator may grant additional discovery on a showing of good cause that the additional discovery is reasonable and necessary. Briefs will be limited to no more than ten pages each, and will be limited to
initial statements of the case, motions and a pre-hearing brief. The evidentiary hearing on the merits will start no later than 60 days after selection of the arbitrator and will proceed for no more than six
consecutive Business Days with equal time allocated to each party for the presentation of evidence and cross examination. The arbitrator may allow additional time for discovery and hearings on a showing of good cause or due to unavoidable delays.

 (iv) The arbitrator will make its final determination no later than 90 days after its selection. The arbitrator will
resolve the dispute according to the terms of this Agreement and the other Basic Documents, and may not modify or change this Agreement or the other Basic Documents in any way. The arbitrator will not have the power to award punitive damages or
consequential damages in any arbitration conducted by them. In its final determination, the arbitrator will determine and award the expenses of the arbitration (including filing fees, the fees of the arbitrator, expense of any record or transcript
of the arbitration and administrative fees) to the parties in its reasonable discretion. The determination of the arbitrator will be in writing and counterpart copies will be promptly delivered to the parties. The determination will be final and non-appealable, except for actions to confirm or vacate the determination permitted under federal or State law, and may be entered and enforced in any court of competent jurisdiction. The arbitrator may not award
remedies that are not consistent with this Agreement and the other Basic Documents. 
 (v) By selecting arbitration, the
Requesting Party is giving up the right to sue in court, including the right to a trial by jury. 
 (vi) The Requesting Party
may not bring a putative or certificated class action to arbitration. If this waiver of class action rights is found to be unenforceable for any reason, the Requesting Party agrees that it will bring its claims in a court of competent jurisdiction.

  
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 (d) For each mediation or arbitration: 

(i) Any mediation or arbitration will be held in New York, New York at the offices of the mediator or arbitrator or at another
location selected by the Servicer. Any party or witness may participate by teleconference or video conference. 
 (ii) The
Servicer and the Requesting Party will have the right to seek provisional relief from a competent court of law, including a temporary restraining order, preliminary injunction or attachment order, if such relief is available by law. 

(e) The Servicer will not be required to produce personally identifiable customer information for purposes of any mediation or arbitration. The
existence and details of any unresolved Reallocation Request, any informal meetings, mediations or arbitration proceedings, the nature and amount of any relief sought or granted, any offers or statements made and any discovery taken in the
proceeding will be confidential, privileged and inadmissible for any purpose in any other mediation, arbitration, litigation or other proceeding. The parties will keep this information confidential and will not disclose or discuss it with any third
party (other than a party’s attorneys, experts, accountants and other advisors, as reasonably required in connection with the mediation or arbitration proceeding under this Section 2.6), except as required by law, regulatory requirement or
court order. If a party to a mediation or arbitration proceeding receives a subpoena or other request for information from a third party (other than a governmental regulatory body) for confidential information of the other party to the mediation or
arbitration proceeding, the recipient will promptly notify the other party and will provide the other party with the opportunity to object to the production of its confidential information. 

ARTICLE III 
 MISCELLANEOUS 

SECTION 3.1. Termination of 2018-1 Servicing Supplement. This
2018-1 Servicing Supplement (and, accordingly, the Basic Servicing Agreement insofar as it relates to the 2018-1 Exchange Note) will be terminated in the event that the
Basic Servicing Agreement is terminated in accordance therewith and may also be terminated at the option of the Servicer or the Titling Trust at any time following the payment in full of the 2018-1 Exchange
Note. 
 SECTION 3.2. Amendment. 

(a) This 2018-1 Servicing Supplement (and, accordingly, the Basic Servicing Agreement, insofar as it
relates to the 2018-1 Exchange Note) may be amended by the parties hereto with the consent of the Majority Noteholders; provided, that to the extent that any such amendment materially affects any Other
Exchange Note, such amendment shall require the consent of the Certificateholders thereof affected thereby. 

  
 20 

 (b) The parties hereto acknowledge and agree that the right of the Indenture Trustee to consent
to any amendment of this 2018-1 Servicing Supplement is subject to the terms and provisions of Section 3.7(g) of the Indenture and that any consent provided by the Indenture Trustee in violation of such
terms and provisions shall be of no force or effect hereunder. 
 SECTION 3.3. GOVERNING LAW. THIS SUPPLEMENT SHALL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO OTHERWISE APPLICABLE PRINCIPLES OF CONFLICTS OF LAW (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL
OBLIGATIONS LAW). 
 SECTION 3.4. Relationship of 2018-1 Servicing Supplement to Other Trust
Documents. Unless the context otherwise requires, this 2018-1 Servicing Supplement and the other Trust Documents shall be interpreted so as to give full effect to all provisions hereof and thereof. In the
event of any actual conflict between the provisions of this 2018-1 Servicing Supplement and the Basic Servicing Agreement, with respect to the servicing of any 2018-1
Exchange Note Assets, the provisions of this 2018-1 Servicing Supplement shall prevail. This 2018-1 Servicing Supplement shall supplement the Basic Servicing Agreement
as it relates to the 2018-1 Exchange Note and the 2018-1 Designated Pool and not to any other Exchange Note or Designated Pool or the Lending Facility Pool. 

SECTION 3.5. [Reserved]. 

SECTION 3.6. Notices. For purposes of the 2018-1 Servicing Agreement, all demands, notices,
directions, requests and communications hereunder shall be in writing and shall be delivered or mailed by registered or certified first-class United States mail, postage prepaid, hand delivery, prepaid courier service, or facsimile transmission, and
addressed in each case as follows: (a) if to the Servicer, GM Financial, 801 Cherry Street, Suite 3500, Fort Worth, Texas, 76102, Attention: Chief Financial Officer, and (b) if to the Indenture Trustee, Wells Fargo Bank, National
Association, 600 South 4th Street, MAC N9300-061, Minneapolis, Minnesota 55479. Notices to the other parties to this 2018-1 Servicing Supplement shall be delivered as
provided in Section 6.5 of the Basic Servicing Agreement. 
 SECTION 3.7. Severability of Provisions. If any one or more of the
covenants, agreements, provisions or terms of this 2018-1 Servicing Supplement or the 2018-1 Servicing Agreement shall be for any reason whatsoever held invalid, then
such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions and terms of this 2018-1 Servicing Supplement or the 2018-1 Servicing Agreement, as applicable, and shall in no way affect the validity or enforceability of the other covenants, agreements, provisions and terms of this 2018-1
Servicing Supplement or the 2018-1 Servicing Agreement. 

  
 21 

 SECTION 3.8. Binding Effect. The provisions of this
2018-1 Servicing Supplement and the 2018-1 Servicing Agreement shall be binding upon and inure to the benefit of the parties hereto and their permitted successors and
assigns. 
 SECTION 3.9. Table of Contents and Headings. The Table of Contents and Article and Section headings herein are for
convenience of reference only and shall not define or limit any of the terms or provisions hereof. 
 SECTION 3.10. Counterparts.
This 2018-1 Servicing Supplement may be executed in any number of counterparts, each of which so executed and delivered shall be deemed to be an original, but all of which counterparts shall together
constitute but one and the same instrument. 
 SECTION 3.11. Further Assurances. Each party shall take such acts, and execute and
deliver to any other party such additional documents or instruments as may be reasonably requested in order to effect the purposes of this 2018-1 Servicing Supplement and the
2018-1 Servicing Agreement and to better assure and confirm unto the requesting party its rights, powers and remedies hereunder. 

SECTION 3.12. Third-Party Beneficiaries. The Issuer, the Depositor and each Noteholder shall be third-party beneficiaries of the 2018-1 Servicing Agreement. Except as otherwise provided in the 2018-1 Servicing Agreement, no other Person shall have any rights hereunder. 

SECTION 3.13. No Petition. Each of the parties hereto, in addition to the provisions of Section 6.13 of the Basic Servicing
Agreement, covenants and agrees that prior to the date that is one (1) year and one (1) day after the date on which all Notes have been paid in full, it will not institute against, or join any other person in instituting against the
Titling Trust or the Settlor, any bankruptcy, reorganization, arrangement, insolvency or liquidation Proceeding or other Proceeding under any Insolvency Law. 

SECTION 3.14. Limitation of Liability. It is expressly understood and agreed by the parties hereto that (a) this 2018-1 Servicing Supplement is executed and delivered by Wilmington Trust Company, not individually or personally but solely as owner trustee of the Titling Trust and the Settlor, in the exercise of the powers and
authority conferred and vested in it under the Titling Trust Agreement and Settlor 

  
 22 

 
Trust Agreement, as applicable, (b) each of the representations, undertakings and agreements herein made on the part of the Titling Trust and the Settlor is made and intended not as personal
representations, undertakings and agreements by Wilmington Trust Company but is made and intended for the purpose for binding only the Titling Trust and the Settlor, (c) nothing herein contained shall be construed as creating any liability on
Wilmington Trust Company, individually or personally, to perform any covenant either express or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and any Person claiming by, through or under the
parties hereto, (d) Wilmington Trust Company has made no investigation as to the accuracy or completeness of any representations and warranties made by the Issuer in this Agreement, and (e) under no circumstances shall Wilmington Trust
Company be personally liable for the payment of any indebtedness or expenses of the Titling Trust and the Settlor or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Titling Trust
and the Settlor under this 2018-1 Servicing Supplement or the other related documents. 
 SECTION
3.15. Preparation of Securities and Exchange Commission Filings. The Servicer will file or will cause to be filed, on behalf of the Issuer and the Depositor, any documents, forms or other items required to be filed by the Issuer or the
Depositor pursuant to the rules and regulations set by the Commission and relating to the Notes or the Program Documents. 
 SECTION 3.16.
Review Reports. Upon the request of any Noteholder to the Servicer for a copy of any Review Report (as defined in the 2018-1 Asset Representations Review Agreement), the Servicer shall promptly provide
a copy of such Review Report to such Noteholder; provided, that if the requesting Noteholder is not a Noteholder of record, such Noteholder must provide the Servicer with a written certification stating that it is a beneficial owner of a
Note, together with supporting documentation supporting that statement (which may include, but is not limited to, a trade confirmation, an account statement or a letter from a broker or dealer verifying ownership) before the Servicer delivers such
Review Report to such Noteholder; provided, further, that if such Review Report contains personally identifiable information regarding Lessees, then the Servicer may condition its delivery of that portion of the Review Report to the
requesting Noteholder on such Noteholder’s delivery to the Servicer of an agreement acknowledging that such Noteholder may use such information only for the limited purpose of assessing the nature of the related breaches of representations and
warranties and may not use that information for any other purpose. 
 SECTION 3.17. Regulation RR Risk Retention. GM Financial, as
Sponsor, and the Depositor agree that (a) GM Financial will cause the Depositor to, and the Depositor will, retain the “eligible horizontal residual interest” (the “Retained Interest”) (as defined in the Credit Risk
Retention Rules) on the 2018-1 Closing Date, and (b) GM Financial will not, and will cause the Depositor and each affiliate of GM Financial not to, sell, transfer, finance or hedge the Retained Interest
except as permitted by the Credit Risk Retention Rules. The representations and warranties set forth in this Section 3.17 shall survive the termination of this Agreement and resignation by, or termination of, GM Financial in its capacity as
Servicer hereunder. 
 [Remainder of Page Intentionally Left Blank] 

  
 23 

 IN WITNESS WHEREOF, the parties hereto have caused this
2018-1 Servicing Supplement to be duly executed by their respective officers duly authorized as of the day and year first above written. 

 

			
	ACAR LEASING LTD.,
		
	By:	 	Wilmington Trust Company, not in its individual capacity but solely as Owner Trustee
		
	By:	 	 /s/ Clarice Wright

	Name: Clarice Wright
	Title: Assistant Vice President
	
	AMERICREDIT FINANCIAL SERVICES, INC.
	d/b/a GM Financial, in its individual capacity and as Servicer
		
	By:	 	 /s/ Sheli Fitzgerald

	Name: Sheli Fitzgerald
	Title: Senior Vice President, Corporate Treasury
	
	APGO TRUST, as Settlor
		
	By:	 	Wilmington Trust Company, not in its individual capacity but solely as Owner Trustee
		
	By:	 	 /s/ Clarice Wright

	Name: Clarice Wright
	Title: Assistant Vice President
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Indenture Trustee and as Collateral Agent
		
	By:	 	 /s/ Marianna C. Stershic

	Name: Marianna C. Stershic
	Title: Vice President

 [Signature Page to the 2018-1 Servicing Supplement] 

 EXHIBIT A 

FORM OF SERVICER REPORT 
 [See
Attached] 

  
 A-I 

 GM Financial Automobile Leasing Trust 2018-1 

        % Exchange Note 

Class A-1             % Asset
Backed Notes 
 Class A-2A
            % Asset Backed Notes 

Class A-2B Floating Asset Backed Notes 

Class A-3             % Asset
Backed Notes 
 Class A-4
            % Asset Backed Notes 

Class B            % Asset Backed Notes 

Class C             % Asset Backed Notes 

Class D             % Asset Backed Notes 

Servicer’s Certificate 
  

			
	 Beginning of Period:

	 End of Period:

	 Number of days in Interest Period (Actual/360):

	 Number of days in Collection Period:

	 Report Due Date:

	 Distribution Date:

	 Transaction
Month:

  

																	
	 2018-1

Designated Pool
	  	Units	 	  	Start Date	 	  	Closing Date	 	  	Original Agg.
Securitization Value	 
	 Total
	  				  				  				  			

  

											
	 RECONCILIATION OF 2018-1 DESIGNATED
POOL AGGREGATE SECURITIZATION VALUE
	  		  			
					
	 {1} Beginning of period Aggregate Securitization Value
	  		  		  	 {1}
	  			
		  		  		  		  	  
	  
	 
					
	 {2} Reduction in Agg. Securitization Value due to payments
	  	 {2}
	  		  		  			
		  		  	  
	  		  			
	 {3} Reduction in Agg. Securitization Value due to Defaulted Leases
	  	 {3}
	  		  		  			
		  		  	  
	  		  			
	 {4} Reduction in Agg. Securitization Value due to early terminations, dealer buyouts,
cancellations, repurchases
	  	 {4}
	  		  		  			
		  		  	  
	  		  			
	 {5} Other adjustments
	  	 {5}
	  		  		  			
		  		  	  
	  		  	  
	  
	 
	 {6} Total change in Agg. Securitization Value
	  		  		  	 {6}
	  			
		  		  		  		  	  
	  
	 
	 {7} End of period Aggregate Securitization Value
	  		  		  	 {7}
	  			
		  		  		  		  	  
	  
	 
					
	 {8} Pool Factor
	  		  		  	 {8}
	  			
		  		  		  		  	  
	  
	 
			
	 RECONCILIATION OF 2018-1 EXCHANGE
NOTE
	  		  			
	 {9} Original Exchange Note Balance
	  		  		  	 {9}
	  			
		  		  		  		  	  
	  
	 
					
	 {10} Beginning of period Exchange Note Balance
	  		  		  	 {10}
	  			
		  		  		  		  	  
	  
	 
					
	 {11} Exchange Note Principal Payment Amount
	  		  		  	 {11}
	  			
		  		  		  		  	  
	  
	 
					
	 {12} End of period Exchange Note Balance
	  		  		  	 {12}
	  			
		  		  		  		  	  
	  
	 
					
	 {13} Note Pool Factor
	  		  		  	 {13}
	  			
		  		  		  		  	  
	  
	 

															
	 RECONCILIATION OF THE ASSET BACKED NOTES
	  		 	 Class A-1
	 	 Class A-2A
	 	 Class A-2B
	 	 Class A-3
	 	 Class A-4

	 {14} Original Note Balance
	  	 {14}
	 		 		 		 		 		 	
								
	 {15} Beginning of period Note Balance
	  	 {15}
	 		 		 		 		 		 	
								
	 {16} Noteholders’ Principal Distributable Amount
	  	 {16}
	 		 		 		 		 		 	
	 {17} Noteholders’ Accelerated Principal Amount
	  	 {17}
	 		 		 		 		 		 	
	 {18} Aggregate Principal Parity Amount
	  	 {18}
	 		 		 		 		 		 	
	 {19} Matured Principal Shortfall
	  	 {19}
	 		 		 		 		 		 	
								
	 {20} End of period Note Balance
	  	 {20}
	 		 		 		 		 		 	
								
	 {21} Note Pool Factor
	  	 {21}
	 		 		 		 		 		 	
								
		  		 	 Class B
	 	 Class C
	 	 Class D
	 		 		 	 TOTAL

								
	 {22} Original Note Balance
	  	 {22}
	 		 		 		 		 		 	
								
	 {23} Beginning of period Note Balance
	  	 {23}
	 		 		 		 		 		 	
								
	 {24} Noteholders’ Principal Distributable Amount
	  	 {24}
	 		 		 		 		 		 	
	 {25} Noteholders’ Accelerated Principal Amount
	  	 {25}
	 		 		 		 		 		 	
	 {26} Aggregate Principal Parity Amount
	  	 {26}
	 		 		 		 		 		 	
	 {27} Matured Principal Shortfall
	  	 {27}
	 		 		 		 		 		 	
								
	 {28} End of period Note Balance
	  	 {28}
	 		 		 		 		 		 	
								
	 {29} Note Pool Factor
	  	 {29}
	 		 		 		 		 		 	
		
	 EXCHANGE NOTE MONTHLY PRINCIPAL PAYMENT AND INTEREST
CALCULATIONS
	 	
								
	         Principal payment calculation:
	  		 		 		 		 		 		 	
	 {30} Beginning of period Designated Pool Balance
	  		 		 		 		 		 	 {30}
	 	
		  		 		 		 		 		 		 	  

								
	 {31} Ending Designated Pool Balance
	  		 		 		 	 {31}
	 		 		 	
		  		 		 		 		 	  
	 		 	
	 {32} Unpaid prior Exchange Note Principal Payment Amount
	  		 		 		 	 {32}
	 		 		 	
		  		 		 		 		 	  
	 		 	
	 {33} Sum of {31} + {32}
	  		 		 		 		 		 	 {33}
	 	
		  		 		 		 		 		 		 	  

								
	 {34} Exchange Note Principal Payment Amount {30} - {33}
	  		 		 		 		 		 	 {34}
	 	
		  		 		 		 		 		 		 	  

 Interest calculation: 

 

																							
	 	  	 Beg Note Balance
	  	 Interest
Carryover
	  	 Interest Rate
	  	 Days
	  	 	  	 Days Basis
	  	 	  	 Interest
	  	 	  	 	  	 
	 {35}
	  		  		  		  		  		  		  		  		  		  		  	
					
	 RECONCILIATION OF EXCHANGE NOTE COLLECTION ACCOUNT

 
	  		  		  		  	
	 Additions:
	  		  		  		  		  		  		  		  		  	
	 {36} 2018-1 Designated Pool
Collections (net of Liquidation Proceeds and fees)
	  		  		  		  		  		  	 {36}
	  		  		  	
		  		  		  		  		  		  		  		  		  	  
	  		  	
	 {37} Net Liquidation Proceeds collected during period
	  		  		  		  		  		  	 {37}
	  		  		  	
		  		  		  		  		  		  		  		  		  	  
	  		  	
	 {38} Investment Earnings
	  		  		  		  		  		  	 {38}
	  		  		  	
		  		  		  		  		  		  		  		  		  	  
	  		  	
	 {39} Investment Earnings - transferred to Indenture Note Collection
Account
	  		  		  		  		  		  	 {39}
	  		  		  	
		  		  		  		  		  		  		  		  		  	  
	  		  	
	 {40} Deposit from Servicer (LKE, Pull Ahead Program)
	  		  		  		  		  		  	 {40}
	  		  		  	
		  		  		  		  		  		  		  		  		  	  
	  		  	
										
	 {41} Total Additions:
	  		  		  		  		  		  		  		  	 {41}
	  	
		  		  		  		  		  		  		  		  		  		  		  	  

										
	 Distributions:
	  		  		  		  		  		  		  		  		  	
	 {42} To the Servicer, Designated Pool Servicing Fee
	  		  		  		  		  		  	 {42}
	  		  		  	
		  		  		  		  		  		  		  		  		  	  
	  		  	
	 {43} To the 2018-1 Exchange
Noteholder, the Exchange Note Interest Payment Amount
	  		  		  		  		  	 {43}
	  		  		  	
		  		  		  		  		  		  		  		  		  	  
	  		  	
	 {44} To the 2018-1 Exchange
Noteholder, the Exchange Note Principal Payment Amount
	  		  		  		  		  	 {44}
	  		  		  	
		  		  		  		  		  		  		  		  		  	  
	  		  	
	 {45} To the 2018-1 Exchange
Noteholder, any funds available to pay obligations pursuant to Indenture Section 8.3 (a)(i) through (xvii)
	  	 {45}
	  		  		  	
		  		  		  		  		  		  		  		  		  	  
	  		  	
	 {46} To the 2018-1 Exchange
Noteholder, all remaining funds to be applied as Excess Exchange Note Payments
	  	 {46}
	  		  		  	
		  		  		  		  		  		  		  		  		  	  
	  		  	
										
	 {47} Total Distributions:
	  		  		  		  		  		  		  		  	 {47}
	  	
		  		  		  		  		  		  		  		  		  		  		  	  

				
	 NOTEHOLDERS’ MONTHLY PRINCIPAL PAYMENT AND INTEREST
CALCULATIONS
	  		  		  	
	  

Noteholders’ Principal Distributable calculation:
	  		  		  		  		  		  		  		  		  	
	 {48} Beginning Agg. Securitization Value
	  		  	 {48}
	  		  		  		  		  		  		  	
		  		  		  		  		  	  
	  		  		  		  		  		  	
	 {49} Ending Agg. Securitization Value
	  		  	 {49}
	  		  		  		  		  		  		  	
		  		  		  		  		  	  
	  		  		  		  		  		  	
	 {50} Principal Distributable Amount {48} - {49}
	  		  		  		  	 {50}
	  		  		  		  		  	
		  		  		  		  		  		  		  	  
	  		  		  		  	
										
	 {51} Noteholders’ Principal Carryover Amount
	  		  		  		  	 {51}
	  	  
	  		  		  		  	
								
	 {52} Principal Distributable Amount + Noteholders’ Principal Carryover
Amount
	  		  		  		  	 {52}
	  		  		  	
		  		  		  		  		  		  		  		  		  	  
	  		  	
						
	 {53} Amount required to reduce Outstanding Amount after giving effect to
distributions made pursuant to Indenture Section 8.3 (i) through (xiii) to the Required Pro Forma Note Balance
	  		  	 {53}
	  		  		  	
		  		  		  		  		  		  		  		  		  	  
	  		  	
									
	 {54} Noteholders’ Principal Distributable Amount Lessor of {52} and
{53}
	  		  		  		  		  		  		  	 {54}
	  	
		  		  		  		  		  		  		  		  		  		  		  	  

				
	 Noteholders’ Interest Distributable calculation:
	  		  		  	

  

													
	            Class	  	 Beg Note Balance
	  	 Interest Carryover
	  	 Interest Rate
	  	 Days
	  	 Days Basis
	  	 Interest

	 {55} Class A-1
	  		  		  		  		  		  	
	 {56} Class A-2A
	  		  		  		  		  		  	
	 {57} Class A-2B
	  		  		  		  		  		  	
	 {58} Class A-3
	  		  		  		  		  		  	
	 {59} Class A-4
	  		  		  		  		  		  	
	 {60} Class B
	  		  		  		  		  		  	
	 {61} Class C
	  		  		  		  		  		  	
	 {62} Class D
	  		  		  		  		  		  	

									
	RECONCILIATION OF INDENTURE COLLECTION ACCOUNT	 	
	  
 Available
Funds:
	 		 		 		 	
	 {63} 2018-1 Exchange Note Collections
	 	{63}	 		 		 	
		 		 	  
	 		 	
	 {64} Investment Earnings
	 	{64}	 		 		 	
		 		 	  
	 		 	
	 {65} Investment Earnings - transferred from Exchange Note Collection Account
	 	{65}	 		 		 	
	 {66} Investment Earnings - and amounts released from Reserve Account pursuant to
Section 2.14(b)(ii) of Servicing Supplement
	 	{66}	 		 		 	
		 		 	  
	 		 	
	 {67} Optional Purchase Price
	 	{67}	 		 		 	
		 		 	  
	 		 	
	 {68} Indenture Section 5.4 disposition of Collateral
	 	{68}	 		 		 	
		 		 	  
	 		 	
	 {69} Available Funds:
	 		 		 	{69}	 	
		 		 		 		 	  

					
	 {70} Reserve Account Withdrawal Amount
	 	{70}	 		 		 	
		 		 	  
	 		 	
					
	 {71} Total Distributable Funds:
	 		 		 	{71}	 	
		 		 		 		 	  

					
	 Distributions:
	 		 		 		 	
	 {72} To the Successor Servicer, unpaid transition expenses, pro rata
	 	{72}	 		 		 	
		 		 	  
	 		 	
	 {73} To the Indenture Trustee, any accrued and unpaid fees & expenses, pro
rata
	 	{73}	 		 		 	
		 		 	  
	 		 	
	 {74} To the Issuer Owner Trustee, any accrued and unpaid fees & expenses, pro
rata
	 	{74}	 	  
	 		 	
	 {75} To the Asset Representations Reviewer, any accrued and unpaid fees &
expenses, pro rata
	 	{75}	 		 		 	
		 		 	  
	 		 	
	 {76} Class A-1 Noteholders’ Interest
Distributable Amount pari passu
	 	{76}	 		 		 	
		 		 	  
	 		 	
	 {77} Class A-2A Noteholders’ Interest
Distributable Amount pari passu
	 	{77}	 		 		 	
		 		 	  
	 		 	
	 {78} Class A-2B Noteholders’ Interest
Distributable Amount pari passu
	 	{78}	 		 		 	
		 		 	  
	 		 	
	 {79} Class A-3 Noteholders’ Interest
Distributable Amount pari passu
	 	{79}	 		 		 	
		 		 	  
	 		 	
	 {80} Class A-4 Noteholders’ Interest
Distributable Amount pari passu
	 	{80}	 		 		 	
		 		 	  
	 		 	
	 {81} Class A Noteholders’ Principal Parity Amount or Matured Principal
Shortfall
	 	{81}	 		 		 	
		 		 	  
	 		 	
	 {82} Class B Noteholders’ Interest Distributable Amount
	 	{82}	 		 		 	
		 		 	  
	 		 	
	 {83} Class B Noteholders’ Principal Parity Amount or Matured Principal
Shortfall
	 	{83}	 		 		 	
		 		 	  
	 		 	
	 {84} Class C Noteholders’ Interest Distributable Amount
	 	{84}	 		 		 	
		 		 	  
	 		 	
	 {85} Class C Noteholders’ Principal Parity Amount or Matured Principal
Shortfall
	 	{85}	 		 		 	
		 		 	  
	 		 	
	 {86} Class D Noteholders’ Interest Distributable Amount
	 	{86}	 		 		 	
		 		 	  
	 		 	
	 {87} Class D Noteholders’ Principal Parity Amount or Matured Principal
Shortfall
	 	{87}	 		 		 	
		 		 	  
	 		 	
	 {88} Noteholders’ Principal Distributable Amount
	 	{88}	 		 		 	
		 		 	  
	 		 	
	 {89} To the Reserve Account, the Reserve Amount Required Amount
	 	{89}	 		 		 	
		 		 	  
	 		 	
	 {90} To the Noteholders, the Accelerated Principal Amount (as calculated below)
	 	{90}	 		 		 	
		 		 	  
	 		 	
	 {91} To the Successor Servicer, any amounts in excess of the caps set forth, pro
rata
	 	{91}	 		 		 	
		 		 	  
	 		 	
	 {92} To the Indenture Trustee, any amounts in excess of the caps set forth, pro
rata
	 	{92}	 		 		 	
		 		 	  
	 		 	
	 {93} To the Asset Representations Reviewer, any amounts in excess of the caps set forth,
pro rata
	 	{93}	 		 		 	
		 		 	  
	 		 	
	 {94} To the Issuer Owner Trustee, any amounts in excess of the caps set forth, pro
rata
	 	{94}	 		 		 	
		 		 	  
	 		 	
	 {95} To the Issuer Trust Certificateholders, the aggregate amount remaining
	 	{95}	 		 		 	
		 		 	  
	 		 	
					
	 {96} Total Distributions:
	 		 		 	{96}	 	
		 		 		 		 	  

																							
	 PRINCIPAL PARITY AMOUNT CALCULATION
	 	
	            Class	  	  

(X)
 Cumulative

Note Balance
	  	 (Y)

Aggregate
 Securitization
Value
	 	 (I)
Excess of
(X) - (Y)
	 	 (II)

Total Available Funds
in Indenture Collection Account
	 	 Lesser of
(I) or (II)
	 	 	 	 	 	 
	 {97} Class A
	  		  		 		 		 		 		 	
	 {98} Class B
	  		  		 		 		 		 		 	
	 {99} Class C
	  		  		 		 		 		 		 	
	 {100} Class D
	  		  		 		 		 		 		 	
		
	 ACCELERATED PRINCIPAL AMOUNT CALCULATION
	 	
										
	 {101} Excess Total Available Funds
	 		 		 		 		 		 	 {101}
	 		 		 	
		  		  		 		 		 		 		 		 		 	  
	 		 	
										
	 {102} Beginning Note Balance
	 		 	 {102}
	 		 		 		 		 		 		 	
		  		  		 		 		 	  
	 		 		 		 		 		 	
	 {103} Principal payments through Indenture Section 8.3 (a) (i)
through (xv)
	 		 	 {103}
	 		 		 		 		 		 		 	
		  		  		 		 		 	  
	 		 		 		 		 		 	
	 {104} Pro-Forma Note Balance
	 		 		 		 	 {104}
	 		 		 		 		 	
		  		  		 		 		 		 		 	  
	 		 		 		 	
										
	 {105} Ending Aggregate Securitization Value
	 		 	 {105}
	 		 		 		 		 		 		 	
		  		  		 		 		 	  
	 		 		 		 		 		 	
	 {106}        % of Aggregate
Securitization Value as of Cutoff until Class A-2 is paid in full,        % Thereafter
($            )
	 		 	 {106}
	 		 		 		 		 		 		 	
		  		  		 		 		 	  
	 		 		 		 		 		 	
	 {107} Required Pro Forma Note Balance {105} - {106}
	 		 		 		 	 {107}
	 		 		 		 		 	
		  		  		 		 		 		 		 	  
	 		 		 		 	
										
	 {108} Excess of Pro Forma Balance minus Required Pro Forma Balance {104} -
{107}
	 		 		 		 		 		 	 {108}
	 	  
	 		 	
										
	 {109} Lesser of Excess Total Available Funds and Excess of Pro Forma Note
Balance
	 		 		 		 		 		 		 		 	 {109}
	 	
		  		  		 		 		 		 		 		 		 		 		 	  

										
	 OVERCOLLATERALIZATION CALCULATIONS
	 		 		 		 		 		 		 		 		 	
											
	 Exchange Note:
	  		 		 		 		 		 		 		 		 		 	
	 {110} Ending Aggregate Securitization Value
	 		 		 		 		 		 	 {110}
	 		 		 	
		  		  		 		 		 		 		 		 		 	  
	 		 	
	 {111} End of Period Note Balance
	 		 		 		 		 		 	 {111}
	 		 		 	
		  		  		 		 		 		 		 		 		 	  
	 		 	
	 {112} Overcollateralization
	 		 		 		 		 		 	 {112}
	 		 		 	
		  		  		 		 		 		 		 		 		 	  
	 		 	
	 {113} Overcollateralization %
	 		 		 		 		 		 		 		 	 {113}
	 	
		  		  		 		 		 		 		 		 		 		 		 	  

										
	 Asset Backed Notes:
	 		 		 		 		 		 		 		 		 	
	 {114} Ending Aggregate Securitization Value
	 		 		 		 		 		 	 {114}
	 		 		 	
		  		  		 		 		 		 		 		 		 	  
	 		 	
	 {115} End of Period Note Balance
	 		 		 		 		 		 	 {115}
	 		 		 	
		  		  		 		 		 		 		 		 		 	  
	 		 	
	 {116} Overcollateralization
	 		 		 		 		 		 	 {116}
	 		 		 	
		  		  		 		 		 		 		 		 		 	  
	 		 	
	 {117} Overcollateralization%
	 		 		 		 		 		 		 		 	 {117}
	 	
		  		  		 		 		 		 		 		 		 		 		 	  

													
	 RECONCILIATION OF 2018-1 CASH RESERVE ACCOUNT
	  				  				  			
	 {118} Specified Reserve Balance
	  				  	 	{118}	 	  			
				
	 {119} Beginning of Period Reserve Account balance
	  				  	 	{119}	 	  			
		  				  				  	  
	  
	 
	 {120} Investment Earnings
	  	 	{120}	 	  				  			
		  				  	  
	  
	 	  			
	 {121} From the Indenture Collection Account, the Reserve Account Required Amount
	  	 	{121}	 	  				  			
		  				  	  
	  
	 	  			
	 {122} To the Indenture Collection Account, the Reserve Account Withdrawal Amount
	  	 	{122}	 	  				  			
		  				  	  
	  
	 	  			
	 {123} Total Reserve balance available:
	  				  	 	{123}	 	  			
		  				  				  	  
	  
	 
				
	 {124} Specified Reserve Balance
	  				  	 	{124}	 	  			
		  				  				  	  
	  
	 
				
	 {125} Release Excess Cash to Indenture Collection Available Funds
	  				  	 	{125}	 	  			
		  				  				  	  
	  
	 
				
	 {126} End of period Reserve Account balance
	  				  	 	{126}	 	  			
		  				  				  	  
	  
	 
	 ASSET REPRESENTATIONS REVIEW DELINQUENCY TRIGGER
	  
	  			
	 	  	 	 	  	Dollars	 	  	Percentage	 
				
	 {127} Receivables with Scheduled Payment delinquent 61 days or more
	  	 	{127}	 	  				  			
				
	 {128} Compliance (Trigger Violation is a Delinquency Rate Greater
Than        % )
	  	 	{128}	 	  				  			
		
	 CREDIT RISK RETENTION (1)

	  
	  			
				
	 	  	 	 	  	Dollars	 	  	Percentage	 
				
	 {129} Fair Value of Residual Interest
	  	 	{129}	 	  				  			
	 {130} Total Fair Value of Notes and Residual Interest
	  	 	{130}	 	  				  			
				
	 {131} Compliance (Fair Value must be at least
        % of the aggregate value of the Notes and Residual Interest)
	  	 	{131}	 	  				  			

  

	(1)	Recalculated as of the closing date. Changes in the fair value methodology or inputs and assumptions as described in the prospectus include final interest rates and
final tranche sizes as of the closing date and listed above. In determining the interest payments on the floating rate Class A-2-B Notes, one-month LIBOR is assumed to reset consistent with the applicable forward rate curve as of Closing Date. 

  

			
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	 Date:
	 	  

 GM Financial 

GMALT 2018-1 

Supplemental Monthly Data 

Date 
  

									
	 	  	Aggregate
Securitization Value	 	  	Residual Value	 
	 Beginning of Period
	  				  			
		  	  
	  
	 	  	  
	  
	 
	 Change
	  				  			
	 End of Period
	  				  			
			
	 Residual Value as % of Agg. Securitization Value
	  				  			
		  				  	  
	  
	 

 Delinquency 

 

													
	Leases with scheduled payment delinquent	  	Number of Leases	 	  	Agg. Securitization Value	 	  	Percentage(1)	 
	 0 - 30 days
	  				  				  			
	 31 - 60 days
	  				  				  			
	 61 - 90 days
	  				  				  			
	 91 - 120 days
	  				  				  			
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Total
	  				  				  			
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 

 Lease Terminations 

 

																	
	 	 	Current Period	 	 	Cumulative	 
	 	 	Number of Leases	 	 	Agg. Securitization Value	 	 	Number of Leases	 	 	Agg. Securitization Value	 
	 Retained vehicles by lessee
	 				 				 				 			
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Early terminations
	 				 				 				 			
	 Standard terminations
	 				 				 				 			
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Total retained by lessee
	 				 				 				 			
	 Returned Vehicles
	 				 				 				 			
	 Early terminations

	 				 				 				 			
	 Standard terminations
	 				 				 				 			
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Total returned to dealer
	 				 				 				 			
	 Charged off leases / Repossessed vehicles
	 				 				 				 			
	 Repurchases
	 				 				 				 			
	 Other
	 				 				 				 			
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Total terminations
	 				 				 				 			

 Net Credit (Gain) Loss 

 

									
	 	  	Current Period	 	  	Cumulative	 
	 Agg. Securitized Value of early term defaults

	  				  			
	 less: Sales proceeds

	  				  			
	 less: Excess wear and excess mileage received

	  				  			
	 less: Other amounts received
	  				  			
		  	  
	  
	 	  	  
	  
	 
	 Net Credit (Gain) Loss
	  				  			

 Residual (Gain) Loss on Returned Vehicles 

 

					
	 Agg. Securitized Value of returned vehicles sold by Servicer

	  	        	  	        
	 add: Reimbursement of outstanding residual advance

	  		  	
	 less: Sales proceeds less: Excess wear and excess mileage received

	  		  	
	 less: Other recovery amounts
	  		  	
	 Residual (Gain) Loss
	  		  	
		  	  
	  	  

			
	 	  	 Current Period
	  	 Prev. Month

	 Prepay Speed
	  		  	
			
	 Return Rate based on Scheduled to
Terminate(2)
	  		  	
			
	 Return Rate based on Terminated Leases(3)
	  		  	

  

	(1)	Percentages may not add to 100% due to rounding. 

	(2)	Percentage of total number of vehicles returned to dealer over number of vehicles scheduled to terminate per month. 

	(3)	Percentage of total number of vehicles returned to dealer over number of vehicles terminated per month.EX-10.5

 Exhibit 10.5 

Execution Version 
 ASSET
REPRESENTATIONS REVIEW AGREEMENT 
 among 

GM FINANCIAL AUTOMOBILE LEASING TRUST 2018-1, 

as Issuer 
 GM FINANCIAL, 

as Servicer 
 and 

CLAYTON FIXED INCOME SERVICES LLC, 

as Asset Representations Reviewer 

Dated as of December 25, 2017 

 TABLE OF CONTENTS 
  

							
	 ARTICLE I DEFINITIONS
	  	 	1	 
	 Section 1.1.
	 	Definitions	  	 	1	 
	 Section 1.2.
	 	Additional Definitions	  	 	1	 
	 ARTICLE II ENGAGEMENT OF ASSET REPRESENTATIONS REVIEWER
	  	 	2	 
	 Section 2.1.
	 	Engagement; Acceptance	  	 	2	 
	 Section 2.2.
	 	Confirmation of Status	  	 	2	 
	 ARTICLE III ASSET REPRESENTATIONS REVIEW PROCESS
	  	 	3	 
	 Section 3.1.
	 	Asset Review Notices	  	 	3	 
	 Section 3.2.
	 	Identification of Asset Review Receivables	  	 	3	 
	 Section 3.3.
	 	Asset Review Materials	  	 	3	 
	 Section 3.4.
	 	Performance of Asset Reviews	  	 	3	 
	 Section 3.5.
	 	Asset Review Reports	  	 	4	 
	 Section 3.6.
	 	Asset Review Representatives	  	 	5	 
	 Section 3.7.
	 	Dispute Resolution	  	 	5	 
	 Section 3.8.
	 	Limitations on Asset Review Obligations	  	 	5	 
	 ARTICLE IV ASSET REPRESENTATIONS REVIEWER
	  	 	6	 
	 Section 4.1.
	 	Representations and Warranties	  	 	6	 
	 Section 4.2.
	 	Covenants	  	 	7	 
	 Section 4.3.
	 	Fees and Expenses	  	 	8	 
	 Section 4.4.
	 	Limitation on Liability	  	 	9	 
	 Section 4.5.
	 	Indemnification	  	 	9	 
	 Section 4.6.
	 	Right to Audit	  	 	10	 
	 Section 4.7.
	 	Delegation of Obligations	  	 	10	 
	 Section 4.8.
	 	Confidential Information	  	 	10	 
	 Section 4.9.
	 	Security and Safeguarding Information	  	 	13	 
	 ARTICLE V . RESIGNATION AND REMOVAL
	  	 	14	 
	 Section 5.1.
	 	Resignation and Removal of Asset Representations Reviewer	  	 	14	 
	 Section 5.2.
	 	Engagement of Successor	  	 	15	 
	 Section 5.3.
	 	Merger, Consolidation or Succession	  	 	15	 
	 ARTICLE VI OTHER AGREEMENTS
	  	 	16	 
	 Section 6.1.
	 	Independence of Asset Representations Reviewer	  	 	16	 
	 Section 6.2.
	 	No Petition	  	 	16	 
	 Section 6.3.
	 	Limitation of Liability of Owner Trustee	  	 	16	 
	 Section 6.4.
	 	Termination of Agreement	  	 	16	 
	 ARTICLE VII MISCELLANEOUS PROVISIONS
	  	 	17	 
	 Section 7.1.
	 	Amendments	  	 	17	 
	 Section 7.2.
	 	Assignment; Benefit of Agreement; Third Party Beneficiaries	  	 	17	 
	 Section 7.3.
	 	Notices	  	 	17	 
	 Section 7.4.
	 	GOVERNING LAW	  	 	18	 
	 Section 7.5.
	 	Submission to Jurisdiction	  	 	18	 
	 Section 7.6.
	 	No Waiver; Remedies	  	 	18	 
	 Section 7.7.
	 	Severability	  	 	18	 
	 Section 7.8.
	 	Headings	  	 	19	 
	 Section 7.9.
	 	Counterparts	  	 	19	 
		
	 SCHEDULES
	  			
			
	 Schedule A
	 	Representations and Warranties and Procedures to be Performed	  			

  

  
 i 

 ASSET REPRESENTATIONS REVIEW AGREEMENT dated as of December 25, 2017 (this
“Agreement”), among GM FINANCIAL AUTOMOBILE LEASING TRUST 2018-1, a Delaware statutory trust (the “Issuer”), AMERICREDIT FINANCIAL SERVICES, INC., a Delaware corporation
(“GM Financial”), in its capacity as Servicer (in such capacity, the “Servicer”) and CLAYTON FIXED INCOME SERVICES LLC, a Delaware limited liability company, as Asset Representations Reviewer (the “Asset
Representations Reviewer”). 
 WHEREAS, in the regular course of its business, GM Financial causes its affiliated titling trust to
purchase leased vehicles and to originate lease agreements related to such leased vehicles. 
 WHEREAS, in connection with a securitization
transaction sponsored by GM Financial, GM Financial sold an exchange note backed by the 2018-1 Exchange Note Assets (a designated pool of leased vehicles and associated lease agreements) to GMF Leasing LLC
(the “Depositor”) which, in turn, sold that exchange note to the Issuer. 
 WHEREAS, the Issuer has granted a security
interest in the exchange note to the Indenture Trustee, for the benefit of the Issuer Secured Parties, pursuant to the Indenture. 

WHEREAS, the Issuer has determined to engage the Asset Representations Reviewer to perform reviews of certain
2018-1 Exchange Note Assets for compliance with the representations and warranties made by GM Financial about such 2018-1 Exchange Note Assets in the 2018-1 Servicing Supplement. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants
herein contained, the parties agree as follows. 
 ARTICLE I 

DEFINITIONS 
 Section 1.1.
Definitions. Capitalized terms that are used but are not otherwise defined in this Agreement have the meanings assigned to them in the 2018-1 Exchange Note Supplement, dated as of December 25,
2017, to the Second Amended and Restated Credit and Security Agreement, dated as of January 24, 2018, both by and between ACAR Leasing Ltd., as borrower, GM Financial, as lender and servicer, and Wells Fargo Bank, National Association, as
administrative agent and as collateral agent. 
 Section 1.2. Additional Definitions. The following terms have the meanings
given below: 
 “Asset Review” means the performance by the Asset Representations Reviewer of the testing procedures for
each Test and each Asset Review Receivable in accordance with Section 3.4. 
 “Asset Review Demand Date” means, for an
Asset Review, the date when the Indenture Trustee determines that each of (a) the Delinquency Trigger has occurred and (b) the required percentage of Noteholders has voted to direct an Asset Review under Section 7.2(f) of the
Indenture. 

 “Asset Review Fee” has the meaning assigned to such term in Section 4.3(b).

 “Asset Review Materials” means, with respect to an Asset Review and an Asset Review Receivable, the documents and other
materials for each Test listed under “Documents” in Schedule A. 
 “Asset Review Notice” means the notice from
the Indenture Trustee to the Asset Representations Reviewer and the Servicer directing the Asset Representations Reviewer to perform an Asset Review. 

“Asset Review Receivables” means, with respect to any Asset Review, each Receivable that is not a Defaulted Lease or a
Liquidated Lease and which the related lessee fails to make at least the lesser of (i) 90% of a Monthly Payment or (ii) all but $25 of the Monthly Payment in either case by the related Payment Due Date and, as of the last day of the Collection
Period prior to the date the related Asset Review Notice was delivered, remained unpaid for 60 days or more from the Payment Due Date. 

“Asset Review Report” means, with respect to any Asset Review, the report of the Asset Representations Reviewer prepared in
accordance with Section 3.5. 
 “Clayton” means Clayton Fixed Income Services LLC. 

“Confidential Information” has the meaning assigned to such term in Section 4.8(a). 

“Eligible Asset Representations Reviewer” means a Person that (a) is not an Affiliate of GM Financial, the Seller, the
Servicer, the Indenture Trustee, the Owner Trustee or any of their Affiliates and (b) was not, and is not an Affiliate of a Person that was, engaged by GM Financial or any Underwriter to perform any due diligence on the Lease Assets prior to
the Closing Date. 
 “Test” has the meaning assigned to such term in Section 3.4(a). 

“Test Complete” has the meaning assigned to such term in Section 3.4(c). 

“Test Fail” has the meaning assigned to such term in Section 3.4(a). 

“Test Pass” has the meaning assigned to such term in Section 3.4(a). 

ARTICLE II 
 ENGAGEMENT OF ASSET
REPRESENTATIONS REVIEWER 
 Section 2.1. Engagement; Acceptance. The Issuer hereby engages Clayton to act as the Asset
Representations Reviewer for the Issuer. Clayton accepts the engagement and agrees to perform the obligations of the Asset Representations Reviewer on the terms stated in this Agreement. 

Section 2.2. Confirmation of Status. The parties confirm that the Asset Representations Reviewer is not responsible for
(a) reviewing the Asset Review Receivables for compliance with the representations and warranties under the Program Documents, except as described in this Agreement, or (b) determining whether noncompliance with the representations or
warranties constitutes a breach of the Program Documents. 

  
 2 

 ARTICLE III 

ASSET REPRESENTATIONS REVIEW PROCESS 

Section 3.1. Asset Review Notices. Upon receipt of an Asset Review Notice from the Indenture Trustee in the manner set forth in
Section 7.2(f) of the Indenture, the Asset Representations Reviewer will start an Asset Review. The Asset Representation Reviewer will have no obligation to start an Asset Review unless and until an Asset Review Notice is received. 

Section 3.2. Identification of Asset Review Receivables. Within ten (10) Business Days of receipt of an Asset Review Notice,
the Servicer will deliver to the Asset Representations Reviewer and the Indenture Trustee a list of the related Asset Review Receivables. 

Section 3.3. Asset Review Materials. 

(a) Access to Asset Review Materials. The Servicer will give the Asset Representations Reviewer access to the Asset Review Materials for
all of the Asset Review Receivables within sixty (60) days of receipt of the Asset Review Notice in one or more of the following ways: (i) by providing access to the Servicer’s lease asset systems, either remotely or at one of the
properties of the Servicer; (ii) by electronic posting to a password-protected website to which the Asset Representations Reviewer has access; (iii) by providing originals or photocopies at one of the properties of the Servicer where the
Asset Receivable Files are located; or (iv) in another manner agreed by the Servicer and the Asset Representations Reviewer. The Servicer may redact or remove Non-Public Personal Information (as defined
in Section 4.8) from the Asset Review Materials so long as such redaction or removal does not change the meaning or usefulness of the Asset Review Materials for purposes of the Asset Review. 

(b) Missing or Insufficient Asset Review Materials. If any of the Asset Review Materials are missing or insufficient for the Asset
Representations Reviewer to perform any Test, the Asset Representations Reviewer will notify the Servicer promptly, and in any event no less than twenty (20) days before completing the Asset Review, and the Servicer will have fifteen
(15) days to give the Asset Representations Reviewer access to such missing Asset Review Materials or other documents or information to correct the insufficiency. If the missing or insufficient Asset Review Materials have not been provided by
the Servicer within fifteen (15) days, the parties agree that the Asset Review Receivable will have a Test Fail for the related Test(s) and the Test(s) will be considered completed and the Asset Review Report will indicate the reason for the
Test Fail. 
 Section 3.4. Performance of Asset Reviews. 

(a) Test Procedures. For an Asset Review, the Asset Representations Reviewer will perform for each Asset Review Receivable the
procedures listed under “Procedures to be Performed” in Schedule A for each representation and warranty (each, a “Test”), using the Asset Review Materials listed for each such Test in Schedule A. For each Test and Asset
Review Receivable, the Asset Representations Reviewer will determine if the Test has been satisfied (a “Test Pass”) or if the Test has not been satisfied (a “Test Fail”). 

  
 3 

 (b) Asset Review Period. The Asset Representations Reviewer will complete the Asset Review
of all of the Asset Review Receivables within sixty (60) days of receiving access to the Asset Review Materials under Section 3.3(a). However, if additional Asset Review Materials are provided to the Asset Representations Reviewer in
accordance with Section 3.3(b), the Asset Review period will be extended for an additional thirty (30) days. 
 (c) Completion
of Asset Review for Certain Asset Review Receivables. Following the delivery of the list of the Asset Review Receivables and before the delivery of the Asset Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset
Representations Reviewer if an Asset Review Receivable is paid in full by the related Obligor or purchased from the Issuer by GM Financial, the Seller or the Servicer according to the Program Documents. On receipt of any such notice, the Asset
Representations Reviewer will immediately terminate all Tests of the related Asset Review Receivables and the Asset Review of such Receivables will be considered complete (a “Test Complete”). In this case, the Asset Review Report
will indicate a Test Complete for the related Asset Review Receivables and the related reason. 
 (d) Previously Reviewed Receivable.
If any Asset Review Receivable was included in a prior Asset Review, then the Asset Representations Reviewer will not perform any Tests on it, but will include the results of the previous Tests in the Asset Review Report for the current Asset
Review, unless (i) any representation or warranty about such Asset Review Receivable that would be subject to a Test as part of the Asset Review relates to a date that is after the date on which the prior Asset Review was performed with respect
to such Asset Review Receivable or (ii) the Asset Representations Reviewer has provided the Servicer with evidence that reasonably demonstrates that the Asset Representations Reviewer was unable during such prior Asset Review to conduct a
review of such Asset Review Receivable in a manner that would have ascertained compliance or non-compliance with a specific representation or warranty. 

(e) Termination of Asset Review. If an Asset Review is in process and the Notes will be paid in full on the next Distribution Date, the
Servicer will notify the Asset Representations Reviewer and the Indenture Trustee no less than ten (10) days before that Distribution Date. On receipt of the notice, the Asset Representations Reviewer will terminate the Asset Review immediately
and will have no obligation to deliver an Asset Review Report. 
 Section 3.5. Asset Review Reports. Within five (5) days
of the end of the Asset Review period under Section 3.4(b), the Asset Representations Reviewer will deliver to the Issuer, the Servicer and the Indenture Trustee an Asset Review Report indicating for each Asset Review Receivable whether there
was a Test Pass or a Test Fail for each Test, or whether the Asset Review Receivable was a Test Complete and the related reason. The Asset Review Report will contain a summary of the Asset Review results to be included in the Issuer’s Form 10-D report for the Collection Period in which the Asset Review Report is received. The Asset Representations Reviewer will ensure that the Asset Review Report does not contain any
Non-Public Personal Information. 

  
 4 

 Section 3.6. Asset Review Representatives. 

(a) Servicer Representative. The Servicer will designate one or more representatives who will be available to assist the Asset
Representations Reviewer in performing the Asset Review, including responding to requests and answering questions from the Asset Representations Reviewer about access to Asset Review Materials on the Servicer’s receivables systems, obtaining
missing or insufficient Asset Review Materials and/or providing clarification of any Asset Review Materials or Tests. 
 (b) Asset
Representations Reviewer Representative. The Asset Representations Reviewer will designate one or more representatives who will be available to the Issuer and the Servicer during the performance of an Asset Review. 

(c) Questions About Asset Review. The Asset Representations Reviewer will make appropriate personnel available to respond in writing to
written questions or requests for clarification of any Asset Review Report from the Indenture Trustee or the Servicer until the earlier of (i) the payment in full of the Notes and (ii) one year after the delivery of the Asset Review
Report. The Asset Representations Reviewer will have no obligation to respond to questions or requests for clarification from Noteholders or any other Person and will direct such Persons to submit written questions or requests to the Indenture
Trustee. 
 Section 3.7. Dispute Resolution. If an Asset Review Receivable that was reviewed by the Asset Representations
Reviewer is the subject of a dispute resolution proceeding under Section 2.20 of the 2018-1 Servicing Supplement, the Asset Representations Reviewer will participate in the dispute resolution proceeding
on request of a party to the proceeding. The reasonable out-of-pocket expenses of the Asset Representations Reviewer for its participation in any dispute resolution
proceeding will be considered expenses of the requesting party for the dispute resolution and will be paid by a party to the dispute resolution as determined by the parties to the dispute resolution in the course of the mediation (in the case of a
mediation) or by the arbitrator for the dispute resolution (in the case of an arbitration), in either case according to Section 2.20 of the 2018-1 Servicing Supplement. If not paid by a party to the
dispute resolution, the expenses will be reimbursed by the Issuer according to Section 4.3(d). 
 Section 3.8. Limitations on
Asset Review Obligations. 
 (a) Asset Review Process Limitations. The Asset Representations Reviewer will have no obligation:

 (i) to determine whether a Delinquency Trigger has occurred or whether the required percentage of Noteholders has voted to
direct an Asset Review under the Indenture, and is entitled to rely on the information in any Asset Review Notice delivered by the Indenture Trustee; 

(ii) to determine which Receivables are subject to an Asset Review, and is entitled to rely on the lists of Asset Review
Receivables provided by the Servicer; 

  
 5 

 (iii) to obtain or confirm the validity of the Asset Review Materials and no
liability for any errors contained in the Asset Review Materials and will be entitled to rely on the accuracy and completeness of the Asset Review Materials; 

(iv) to obtain missing or insufficient Asset Review Materials from any party or any other source; 

(v) to take any action or cause any other party to take any action under any of the Program Documents or otherwise to enforce
any remedies against any Person for breaches of representations or warranties about the Asset Review Receivables. 
 (vi) to
determine the reason for the delinquency of any Asset Review Receivable, the creditworthiness of any Obligor, the overall quality of any Asset Review Receivable or the compliance by the Servicer with its covenants with respect to the servicing of
such Asset Review Receivable; or 
 (vii) to establish cause, materiality or recourse for any failed Test as described in
Section 3.4. 
 (b) Testing Procedure Limitations. The Asset Representations Reviewer will only be required to perform the
testing procedures listed under “Procedures to be Performed” in Schedule A, and will have no obligation to perform additional procedures on any Asset Review Receivable or to provide any information other than an Asset Review Report
indicating for each Asset Review Receivable whether there was a Test Pass or a Test Fail for each Test, or whether the Asset Review Receivable was a Test Complete and the related reason. However, the Asset Representations Reviewer may provide
additional information about any Asset Review Receivable that it determines in good faith to be material to the Asset Review. 
 ARTICLE IV

 ASSET REPRESENTATIONS REVIEWER 

Section 4.1. Representations and Warranties. 

(a) Representations and Warranties. The Asset Representations Reviewer represents and warrants to the Issuer as of the date of this
Agreement: 
 (i) Organization and Qualification. The Asset Representations Reviewer is duly organized and validly
existing as a limited liability company in good standing under the laws of Delaware. The Asset Representations Reviewer is qualified as a limited liability company in good standing and has obtained all necessary licenses and approvals in all
jurisdictions in which the ownership or lease of its properties or the conduct of its activities requires the qualification, license or approval, unless the failure to obtain the qualifications, licenses or approvals would not reasonably be expected
to have a material adverse effect on the Asset Representations Reviewer’s ability to perform its obligations under this Agreement. 

  
 6 

 (ii) Power, Authority and Enforceability. The Asset Representations
Reviewer has the power and authority to execute, deliver and perform its obligations under this Agreement. The Asset Representations Reviewer has authorized the execution, delivery and performance of this Agreement. This Agreement is the legal,
valid and binding obligation of the Asset Representations Reviewer enforceable against the Asset Representations Reviewer, except as may be limited by insolvency, bankruptcy, reorganization or other laws relating to the enforcement of
creditors’ rights or by general equitable principles. 
 (iii) No Conflicts and No Violation. The completion of
the transactions contemplated by this Agreement and the performance of the Asset Representations Reviewer’s obligations under this Agreement will not (A) conflict with, or be a breach or default under, any indenture, agreement, guarantee
or similar agreement or instrument under which the Asset Representations Reviewer is a party, (B) result in the creation or imposition of any Lien on any of the assets of the Asset Representations Reviewer under the terms of any indenture,
agreement, guarantee or similar agreement or instrument, (C) violate the organizational documents of the Asset Representations Reviewer or (D) violate any law or, to the Asset Representations Reviewer’s knowledge, any order, rule or
regulation that applies to the Asset Representations Reviewer of any court or of any federal or state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Asset Representations Reviewer, in each
case, which conflict, breach, default, Lien or violation would reasonably be expected to have a material adverse effect on the Asset Representations Reviewer’s ability to perform its obligations under this Agreement. 

(iv) No Proceedings. To the Asset Representations Reviewer’s knowledge, there are no proceedings or investigations
pending or threatened in writing before any court, regulatory body, administrative agency, or other governmental instrumentality having jurisdiction over the Asset Representations Reviewer or its properties: (A) asserting the invalidity of this
Agreement, (B) seeking to prevent the completion of any of the transactions contemplated by this Agreement or (C) seeking any determination or ruling that would reasonably be expected to have a material adverse effect on the Asset
Representations Reviewer’s ability to perform its obligations under, or the validity or enforceability of, this Agreement. 

(v) Eligibility. The Asset Representations Reviewer is an Eligible Asset Representations Reviewer. 

(b) Notice of Breach. Upon (i) the discovery by the Asset Representations Reviewer, the Issuer or the Servicer or (ii) the
receipt of written notice by or actual knowledge of a Responsible Officer of the Owner Trustee or the Indenture Trustee, of a material breach of any of the representations and warranties in Section 4.1(a), the party discovering such breach will
give prompt notice to the other parties. 
 Section 4.2. Covenants. The Asset Representations Reviewer covenants and agrees
that: 
 (a) Eligibility. It will notify the Issuer and the Servicer promptly if it is not, or on the occurrence of any action that
would result in it not being, an Eligible Asset Representations Reviewer. 

  
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 (b) Review Systems. It will maintain business process management and/or other systems
necessary to ensure that it can perform each Test and, on execution of this Agreement, will load each Test into these systems. The Asset Representations Reviewer will ensure that these systems allow for each Asset Review Receivable and the related
Asset Review Materials to be individually tracked and stored as contemplated by this Agreement. 
 (c) Personnel. It will maintain
adequate staff that is properly trained to conduct Asset Reviews as required by this Agreement. The Asset Representations Reviewer, at its discretion, may utilize the services of third parties, affiliates, and agents (“Agents”) to provide
any Asset Review under this Agreement; provided, however, that the Asset Representations Reviewer has entered into confidentiality agreements with such Agents (or such Agents are otherwise bound by confidentiality obligations) the provisions of
which are no less protective than those set forth in this Agreement. Any such Agent must be approved by Servicer prior to engaging in any Asset Review under this Agreement. The Asset Representations Reviewer shall be responsible to Servicer for the
Asset Reviews provided by its Agents to the same extent as if provided by the Asset Representations Reviewer under this Agreement. Servicer agrees to look solely to the Asset Representations Reviewer and not to any Agent for satisfaction of any
claims the Servicer may have arising out of this Agreement or due to the performance or non-performance of Services. 

(d) Changes to Personnel. It will promptly notify Servicer in the event that it undergoes significant management or staffing changes
which would negatively impact its ability to fulfill its obligations under this Agreement. 
 (e) Maintenance of Asset Review
Materials. It will maintain copies of any Asset Review Materials, Asset Review Reports and other documents relating to an Asset Review, including internal correspondence and work papers, for a period of two years after the termination of this
Agreement. 
 Section 4.3. Fees and Expenses. 

(a) Annual Fee. The Issuer will, or will cause the Servicer to, pay the Asset Representations Reviewer, as compensation for agreeing to
act as the Asset Representations Reviewer under this Agreement, an annual fee in the amount of $5,000. The annual fee will be paid on the Closing Date and on each anniversary of the Closing Date until this Agreement is terminated, payable pursuant
to the priority of payments in Section 8.3 of the Indenture. 
 (b) Asset Review Fee. Following the completion of an Asset Review
and the delivery to the Indenture Trustee of the Asset Review Report, or the termination of an Asset Review according to Section 3.4(e), and the delivery to the Servicer of a detailed invoice, the Asset Representations Reviewer will be entitled
to a fee of up to $250 for each Asset Review Receivable for which the Asset Review was started (the “Asset Review Fee”). However, no Asset Review Fee will be charged for any Asset Review Receivable which was included in a prior
Asset Review or for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Review according to Section 3.4(e). If the detailed invoice is submitted on or before the first day of a
month, the Asset Review Fee will be paid by the Issuer pursuant to the priority of payments in Section 8.3 of the Indenture starting on or before the 

  
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Distribution Date in that month. However, if an Asset Review is terminated according to Section 3.4(e), the Asset Representations Reviewer must submit its invoice for the Asset Review Fee
for the terminated Asset Review no later than five (5) Business Days before the final Distribution Date in order to be reimbursed no later than the final Distribution Date. To the extent that such amounts were not previously paid by the
Servicer or any other party, upon receipt of a detailed invoice, the Asset Representations Reviewer shall be entitled to payment by the Servicer of incurred but otherwise unpaid Asset Review Fees. 

(c) Reimbursement of Travel Expenses. If the Servicer provides access to the Asset Review Materials at one of its properties, the Issuer
will, or will cause the Servicer to, reimburse the Asset Representations Reviewer for its reasonable travel expenses incurred in connection with the Asset Review upon receipt of a detailed invoice, payable pursuant to the priority of payments in
Section 8.3 of the Indenture. To the extent that such amounts were not previously paid by the Servicer or any other party, upon receipt of a detailed invoice, the Asset Representations Reviewer shall be entitled to payment by the Servicer of
incurred but otherwise unpaid travel expenses. 
 (d) Dispute Resolution Expenses. If the Asset Representations Reviewer participates
in a dispute resolution proceeding under Section 3.7 and its reasonable out-of-pocket expenses it incurs in participating in the proceeding are not paid by a party
to the dispute resolution within ninety (90) days of the end of the proceeding, the Issuer will reimburse the Asset Representations Reviewer for such expenses upon receipt of a detailed invoice, payable pursuant to the priority of payments in
Section 8.3 of the Indenture. To the extent that such amounts were not previously paid by the Servicer or any other party, upon receipt of a detailed invoice, the Asset Representations Reviewer shall be entitled to payment by the Servicer of
incurred but otherwise unpaid expenses. 
 Section 4.4. Limitation on Liability. The Asset Representations Reviewer will not be
liable to any person for any action taken, or not taken, in good faith under this Agreement or for errors in judgment. However, the Asset Representations Reviewer will be liable for its willful misconduct, bad faith or negligence in performing its
obligations under this Agreement. In no event shall either party be liable to the other party for any incidental, special, indirect, punitive, exemplary or consequential damages. 

Section 4.5. Indemnification  

(a) Indemnification by Asset Representations Reviewer. The Asset Representations Reviewer will indemnify each of the Issuer, the Seller,
the Servicer, the Owner Trustee, the Collateral Agent and the Indenture Trustee (both in its individual capacity and in its capacity as Indenture Trustee on behalf of the Noteholders) and their respective directors, officers, employees and agents
for all costs, expenses, losses, damages and liabilities resulting from (i) the willful misconduct, fraud, bad faith or negligence of the Asset Representations Reviewer in performing its obligations under this Agreement (ii) the Asset
Representations Reviewer’s breach of any of its representations or warranties or other obligations under this Agreement (iii) its breach of confidentiality obligations or (iv) any third party intellectual property claim. The Asset
Representations Reviewer’s obligations under this Section 4.5 will survive the termination of this Agreement, the termination of the Issuer and the resignation or removal of the Asset Representations Reviewer. 

  
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 (b) Indemnification of Asset Representations Reviewer. The Issuer will, or will cause the
Servicer to, indemnify the Asset Representations Reviewer and its officers, directors, employees and agents, for all costs, expenses, losses, damages and liabilities resulting from the performance of its obligations under this Agreement (including
the costs and expenses of defending itself against any loss, damage or liability), but excluding any cost, expense, loss, damage or liability resulting from (i) the Asset Representations Reviewer’s willful misconduct, bad faith or
negligence or (ii) the Asset Representations Reviewer’s breach of any of its representations or warranties in this Agreement. The Issuer acknowledges and agrees that its obligation to indemnify the Asset Representations Reviewer in
accordance with this Agreement shall survive termination of this Agreement. To the extent that such indemnities owed to the Asset Representations Reviewer were not previously paid by the Servicer or any other party, upon receipt of a detailed
invoice, the Asset Representations Reviewer shall be entitled to payment by the Servicer of such incurred but otherwise unpaid indemnities. 

Section 4.6. Right to Audit. During the term of this Agreement and not more than once per year (unless circumstances warrant
additional audits as described below), Servicer may audit the Asset Representations Reviewer’s policies, procedures and records that relate to the performance of the Asset Representation Reviewer under this Agreement to ensure compliance with
this Agreement upon at least 10 business days’ notice. Notwithstanding the foregoing, the parties agree that Servicer may conduct an audit at any time, in the event of (i) audits required by Servicer’s governmental or regulatory
authorities, (ii) investigations of claims of misappropriation, fraud, or business irregularities of a potentially criminal nature, or (iii) Servicer reasonably believes that an audit is necessary to address a material operational problem
or issue that poses a threat to Servicer’s business. 
 Section 4.7. Delegation of Obligations. Subject to the terms of
Section 4.2(c) of this Agreement, the Asset Representations Reviewer may not delegate or subcontract its obligations under this Agreement to any Person without the consent of the Issuer and the Servicer. 

Section 4.8. Confidential Information. 

(a) Definitions. 

(i) In performing its obligations pursuant to this Agreement, the parties may have access to and receive disclosure of certain
Confidential Information about or belonging to the other, including but not limited to marketing philosophy, strategies (including tax mitigation strategies), techniques, and objectives; advertising and promotional copy; competitive advantages and
disadvantages; financial results; technological developments; loan evaluation programs; customer lists; account information, profiles, demographics and Non-Public Personal Information (defined below); credit
scoring criteria, formulas and programs; research and development efforts; any investor, financial, commercial, technical or scientific information (including, but not limited to, patents, copyrights, trademarks, service marks, trade names and
dress, and applications relating to same, trade secrets, software, code, inventions, know-how and similar information) and any and all other business information (hereinafter “Confidential
Information”). 

  
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 (ii) “Non-Public Personal
Information” shall include all Personally Identifiable Financial Information in any list, description or other grouping of consumers/customers, and publicly available information pertaining to them, that is derived using any Personally
Identifiable Financial Information that is not publicly available, and shall further include all Non-Public Personal Information as defined by Federal regulations implementing the Gramm-Leach-Bliley Act, as
amended from time to time, and any state statues or regulations governing this agreement. 
 (iii) “Personally
Identifiable Financial Information” means any information a consumer provides to a party in order to obtain a financial product or service, any information a party otherwise obtains about a consumer in connection with providing a financial
product or service to that consumer, and any information about a consumer resulting from any transaction involving a financial product or service between a party and a consumer. Personally Identifiable Financial Information may include, without
limitation, a consumer’s first and last name, physical address, zip code, e-mail address, phone number, Social Security number, birth date, account number and any information that identifies, or when tied
to the above information may identify, a consumer.
 (b) Use of Confidential Information. The parties agree that during the term of
this Agreement and thereafter, Confidential Information is to be used solely in connection with satisfying their obligations pursuant to this Agreement, and that a party shall neither disclose Confidential Information to any third party, nor use
Confidential Information for its own benefit, except as may be necessary to perform its obligations pursuant to this Agreement or as expressly authorized in writing by the other party, as the case may be. 

Neither party shall disclose any Confidential Information to any other persons or entities, except on a “need to know” basis and then
only: (i) to their own employees and Agents (as defined below); (ii) to their own accountants and legal representatives, provided that any such representatives shall be subject to subsection(iv) below; (iii) to their own affiliates,
provided that such affiliates shall be restricted in use and redisclosure of the Confidential Information to the same extent as the parties hereto. “Agents”, for purposes of this Section, mean each of the parties’ advisors,
directors, officers, employees, contractors, consultants affiliated entities (i.e., an entity controlling, controlled by, or under common control with a party), or other agents. If and to the extent any Agent of the recipient receive Confidential
Information, such recipient party shall be responsible for such Agent’s full compliance with the terms and conditions of this Agreement and shall be liable for any such Agent’s non-compliance. 

(c) Compelled Disclosure. If a subpoena or other legal process seeking Confidential Information is served upon either party, such party
will, to the extent not prohibited by law, rule or order, notify the other immediately and, to the maximum extent practicable prior to disclosure of any Confidential Information, will, at the other’s request and reasonable expense, cooperate in
any lawful effort to contest the legal validity of such subpoena or other legal process. The restrictions set forth herein shall apply during the term and after the termination of this Agreement. All Confidential Information furnished to
the Asset Representations Reviewer or Servicer, as the case may be, or to which the Asset Representations Reviewer or Servicer gains access in connection with this Agreement, is the respective exclusive property of the disclosing party.

  
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 (d) Use by Agents, Employees, Subcontractors. The parties shall take reasonable measures
to prevent its Agents, employees and subcontractors from using or disclosing any Confidential Information, except as may be necessary for each party to perform its obligations pursuant to this Agreement. Such measures shall include, but not be
limited to, (i) education of such Agents, employees and subcontractors as to the confidential nature of the Confidential Information; and (ii) securing a written acknowledgment and agreement from such Agents, employees and subcontractors
that the Confidential Information shall be handled only in accordance with provisions no less restrictive than those contained in this Agreement. This provision shall survive termination of this Agreement.

(e) Remedies. The parties agree and acknowledge that in order to prevent the unauthorized use or disclosure of Confidential Information,
it may be necessary for a party to seek injunctive or other equitable relief, and that money damages may not constitute adequate relief, standing alone, in the event of actual or threatened disclosure of Confidential Information. In addition,
the harmed party shall be entitled to all other remedies available at law or equity including injunctive relief. 
 (f) Exceptions.
Confidential Information shall not include, and this Agreement imposes no obligations with respect to, information that: 

(i) is or becomes part of the public domain other than by disclosure by a Party or its Agents in violation of this Agreement;

 (ii) was disclosed to a Party prior to the Effective Date without a duty of confidentiality; 

(iii) is independently developed by a Party outside of this Agreement and without reference to or reliance on any Confidential
Information of the other Party; or 
 (iv) was obtained from a third party not known after reasonable inquiry to be under a
duty of confidentiality. 
 The foregoing exceptions shall not apply to any Non-Public Personal
Information or Personally Identifiable Financial Information, which shall remain confidential in all circumstances, except as required or permitted to be disclosed by applicable law, statute, or regulation. 

(g) Return of Confidential Information. Subject to Section 4.2(e) of this Agreement, upon the request of a party, the other party
shall return all Confidential Information to the other; provided, however, (i) each party shall be permitted to retain copies of the other party’s Confidential Information solely for archival, audit, disaster recovery, legal and/or
regulatory purposes, and (ii) neither party will be required to search archived electronic back-up files of its computer systems for the other party’s Confidential Information in order to purge the
other party’s Confidential Information from its archived files; provided further, that any Confidential 

  
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Information so retained will (x) remain subject to the obligations and restrictions contained in this Agreement, (y) will be maintained in accordance with the retaining party’s
document retention policies and procedures, and (z) the retaining party will not use the retained Confidential Information for any other purpose. 

Section 4.9. Security and Safeguarding Information  

(a) Confidential Information that contains Non-Public Personal Information about customers is subject
to the protections created by the Gramm-Leach-Bliley Act of 1999 (the “Act”) and under the standards for safeguarding Confidential Information, 16 CFR Part 314 (2002) adopted by Federal Trade Commission (“FTC”) (the
“Safeguards Rule”). Additionally, state specific laws may regulate how certain confidential or personal information is safeguarded. The parties agree with respect to the Non-Public Personal
Information to take all appropriate measures in accordance with the Act, and any state specific laws, as are necessary to protect the security of the Non-Public Personal Information and to specifically assure
there is no disclosure of the Non-Public Personal Information other than as authorized under the Act, and any state specific laws, and this Agreement. 

With respect to Confidential Information, including Non-Public Personal Information and Personally
Identifiable Financial Information as applicable, each of the parties agrees that: 
 (i) It will use commercially reasonable
efforts to safeguard and protect the confidentiality of any Confidential Information and agrees, warrants, and represents that it has or will implement and maintain appropriate safeguards designed to safeguard and protect the confidentiality of any
Confidential Information. 
 (ii) It will not disclose or use Confidential Information provided except for the purposes as
set in the Agreement, including as permitted under the Act and its implementing regulations, or other applicable law. 

(iii) It acknowledges that the providing party is required by the Safeguards Rule to take reasonable steps to assure itself
that its service providers maintain sufficient procedures to detect and respond to security breaches, and maintain reasonable procedures to discover and respond to widely-known security failures by its service providers. It agrees to furnish to
the providing party that appropriate documentation to provide such assurance. 
 (iv) It understands that the FTC may, from
time to time, issue amendments to and interpretations of its regulations implementing the provisions of the Act, and that pursuant to its regulations, either or both of the parties hereto may be required to modify their policies and procedures
regarding the collection, use, protection, and/or dissemination of Non-Public Personal Information. Additionally, states may issue amendments to and interpretations of existing regulations, or may issue
new regulations, which both of the parties hereto may be required to modify their policies and procedures. To the extent such regulations are so amended or interpreted, each party hereto agrees to use reasonable efforts to adjust the Agreement in
order to comply with any such new requirements. 
 (v) By the signing of this Agreement, each party certifies that it has a
written, comprehensive information security program that is in compliance with federal and state laws that are applicable to its respective organization and the types of Confidential Information it receives. 

  
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 (b) The Asset Representations Reviewer represents and warrants that it has, and will continue to
have, adequate administrative, technical, and physical safeguards designed to (i) protect the security, confidentiality and integrity of Non-Public Personal Information, (ii) ensure against
anticipated threats or hazards to the security or integrity of Non-Public Personal Information, (iii) protect against unauthorized access to or use of Non-Public
Personal Information and (iv) otherwise comply with its obligations under this Agreement. These safeguards include a written data security plan, employee training, information access controls, restricted disclosures, systems protections (e.g.,
intrusion protection, data storage protection and data transmission protection) and physical security measures. 
 (c) Asset Representations
Reviewer will promptly notify Servicer in the event it becomes aware of any unauthorized or suspected acquisition of data or Confidential Information that compromises the security, confidentiality or integrity of Servicer’s Confidential
Information, whether internal or external. The disclosure will include the date and time of the breach along with specific information compromised along with the monitoring logs, to the extent then known. The Asset Representations Reviewer will
use commercially reasonable efforts to take remedial action to resolve such breach. 
 (d) The Asset Representations Reviewer will cooperate
with and provide information to the Issuer and the Servicer regarding the Asset Representations Reviewer’s compliance with this Section 4.9. 

ARTICLE V. 
 RESIGNATION AND
REMOVAL 
 Section 5.1. Resignation and Removal of Asset Representations Reviewer. 

(a) Resignation of Asset Representations Reviewer. The Asset Representations Reviewer may not resign as Asset Representations Reviewer,
except: 
 (i) upon determination that (A) the performance of its obligations under this Agreement is no longer
permitted under applicable law and (B) there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted under applicable law; or 

(ii) with the consent of the Issuer. 

The Asset Representations Reviewer will give the Issuer and the Servicer sixty (60) days’ prior notice of its resignation. Any
determination permitting the resignation of the Asset Representations Reviewer under subsection (i) above must be evidenced by an Opinion of Counsel delivered to the Issuer, the Servicer, the Owner Trustee, the Collateral Agent and the
Indenture Trustee. No resignation of the Asset Representations Reviewer will become effective until a successor Asset Representations Reviewer is in place. 

  
 14 

 (b) Removal of Asset Representations Reviewer. The Issuer may remove the Asset
Representations Reviewer and terminate all of its rights and obligations (other than as provided in Section 4.6) under this Agreement (i) if the Asset Representations Reviewer ceases to be an Eligible Asset Representations Reviewer,
(ii) on a breach of any of the representations, warranties, covenants or obligations of the Asset Representations Reviewer contained in this Agreement and (iii) on the occurrence of an Insolvency Event with respect to the Asset
Representations Reviewer, by notifying the Asset Representations Reviewer, the Indenture Trustee and the Servicer of the removal. 
 (c)
Effectiveness of Resignation or Removal. No resignation or removal of the Asset Representations Reviewer will become effective until a successor Asset Representations Reviewer is in place. The predecessor Asset Representations Reviewer will
continue to perform its obligations under this agreement until a successor asset Representations Reviewer is in place. 
 Section 5.2.
Engagement of Successor. 
 (a) Successor Asset Representations Reviewer. Following the resignation or removal of the Asset
Representations Reviewer under Section 5.1, the Issuer will engage as the successor Asset Representations Reviewer a Person that is an Eligible Asset Representations Reviewer. The successor Asset Representations Reviewer will accept its
engagement or appointment by executing and delivering to the Issuer and the Servicer an agreement to assume the Asset Representations Reviewer’s obligations under this Agreement or entering into a new Asset Representations Review Agreement with
the Issuer that is on substantially the same terms as this Agreement. 
 (b) Transition and Expenses. The predecessor Asset
Representations Reviewer will cooperate with the successor Asset Representations Reviewer engaged by the Issuer in effecting the transition of the Asset Representations Reviewer’s obligations and rights under this Agreement. The predecessor
Asset Representations Reviewer will pay the reasonable expenses of the successor Asset Representations Reviewer in transitioning the Asset Representations Reviewer’s obligations under this Agreement and preparing the successor Asset
Representations Reviewer to take on the obligations on receipt of an invoice with reasonable detail of the expenses from the successor Asset Representations Reviewer. 

Section 5.3. Merger, Consolidation or Succession. Any Person (a) into which the Asset Representations Reviewer is merged or
consolidated, (b) resulting from any merger or consolidation to which the Asset Representations Reviewer is a party, (c) which acquires substantially all of the assets of the Asset Representations Reviewer, or (d) succeeding to the
business of the Asset Representations Reviewer, which Person is an Eligible Asset Representations Reviewer, will be the successor to the Asset Representations Reviewer under this Agreement. Such Person will execute and deliver to the Issuer and the
Servicer an agreement to assume the Asset Representations Reviewer’s obligations under this Agreement (unless the assumption happens by operation of law). No such transaction will be deemed to release the Asset Representations Reviewer from its
obligations under this Agreement. 

  
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 ARTICLE VI 

OTHER AGREEMENTS 

Section 6.1. Independence of Asset Representations Reviewer. The Asset Representations Reviewer will be an independent contractor
and will not be subject to the supervision of the Issuer, the Indenture Trustee or the Owner Trustee for the manner in which it accomplishes the performance of its obligations under this Agreement. Unless expressly authorized by the Issuer and, with
respect to the Owner Trustee, the Owner Trustee, the Asset Representations Reviewer will have no authority to act for or represent the Issuer, the Indenture Trustee or the Owner Trustee and will not be considered an agent of the Issuer, the
Indenture Trustee or the Owner Trustee. Nothing in this Agreement will make the Asset Representations Reviewer and any of the Issuer, the Indenture Trustee or the Owner Trustee members of any partnership, joint venture or other separate entity or
impose any liability as such on any of them. 
 Section 6.2. No Petition. Each of the Servicer and the Asset Representations
Reviewer, by entering into this Agreement, and the Owner Trustee and the Indenture Trustee, by accepting the benefits of this Agreement, agrees that, before the date that is one year and one day (or, if longer, any applicable preference period)
after payment in full of (a) all securities issued by the Seller or by a trust for which the Seller was a Seller or (b) the Notes, it will not start or pursue against, or join any other Person in starting or pursuing against, the Seller or
the Issuer any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other proceedings under any bankruptcy or similar law. This Section 6.2 will survive the termination of this Agreement. 

Section 6.3. Limitation of Liability of Owner Trustee. It is expressly understood and agreed by the parties hereto that
(i) this Agreement is executed and delivered by Wilmington Trust Company, not individually or personally but solely as trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it, (ii) each of the
representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by Wilmington Trust Company but is made and intended for the purpose of binding only
the issuer, (iii) nothing herein contained shall be construed as creating any liability on Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any,
being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (iv) Wilmington Trust Company has made no investigation as to the accuracy or completeness of any representations or warranties
made by the Issuer in this Agreement and (v) under no circumstances shall Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligations,
representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents. 

Section 6.4. Termination of Agreement. This Agreement will terminate, except for the obligations under Section 4.6, on the
earlier of (a) the payment in full of all outstanding Notes and the satisfaction and discharge of the Indenture and (b) the termination of the Issuer. 

  
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 ARTICLE VII 

MISCELLANEOUS PROVISIONS 

Section 7.1. Amendments. 

(a) The parties may amend this Agreement: 

(i) without the consent of the Noteholders, to clarify an ambiguity or to correct or supplement any term of this Agreement that
may be defective or inconsistent with the other terms of this Agreement or to provide for, or facilitate the acceptance of this Agreement by, a successor Asset Representations Reviewer; 

(ii) without the consent of the Noteholders, if the Servicer delivers an Officer’s Certificate to the Issuer, the Owner
Trustee, the Collateral Agent and the Indenture Trustee stating that the amendment will not have a material adverse effect on the Notes; or 

(iii) with the consent of the Noteholders of a majority of the Note Balance of each Class of Notes materially and
adversely affected by the amendment (with each affected Class voting separately, except that all Noteholders of Class A Notes will vote together as a single class). 

(b) Notice of Amendments. The Servicer will give prior notice of any amendment to the Rating Agencies. Promptly after the execution of
an amendment, the Servicer will deliver a copy of the amendment to the Rating Agencies. 
 Section 7.2. Assignment; Benefit of
Agreement; Third Party Beneficiaries. 
 (a) Assignment. Except as stated in Section 5.3, this Agreement may not be assigned
by the Asset Representations Reviewer without the consent of the Issuer and the Servicer. 
 (b) Benefit of the Agreement; Third-Party
Beneficiaries. This Agreement is for the benefit of and will be binding on the parties to this Agreement and their permitted successors and assigns. The Owner Trustee and the Indenture Trustee (both in its individual capacity and in its capacity
as Indenture Trustee), for the benefit of the Noteholders, will be third-party beneficiaries of this Agreement entitled to enforce this Agreement against the Asset Representations Reviewer and the Servicer. No other Person will have any right or
obligation under this Agreement. 
 Section 7.3. Notices. 

(a) Delivery of Notices. All notices, requests, demands, consents, waivers or other communications to or from the parties to this
Agreement must be in writing and will be considered given: 
 (i) on delivery or, for a letter mailed by registered first
class mail, postage prepaid, three (3) days after deposit in the mail; 
 (ii) for a fax, when receipt is confirmed by
telephone, reply email or reply fax from the recipient; 

  
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 (iii) for an email, when receipt is confirmed by telephone or reply email from
the recipient; and 
 (iv) for an electronic posting to a password-protected website to which the recipient has access, on
delivery (without the requirement of confirmation of receipt) of an email to that recipient stating that the electronic posting has occurred. 

(b) Notice Addresses. Any notice, request, demand, consent, waiver or other communication will be delivered or addressed as follows: via
electronic mail to ARRNotices@clayton.com, and to Clayton Fixed Income Services LLC, 2638 South Falkenburg Road, Riverview, Florida 33578, Attn: SVP, with a copy to Clayton Fixed Income Services LLC, c/o Clayton Holdings LLC, 1500 Market Street,
West Tower Suite 2050, Philadelphia, Pennsylvania 19102, Attn: General Counsel, or at any another address as the related party may designate by notice to the other parties hereto. 

Section 7.4. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND THIS AGREEMENT AND ALL MATTERS
ARISING OUT OF OR RELATING IN ANY WAY TO THIS AGREEMENT SHALL BE, GOVERNED BY, THE LAW OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 
 Section 7.5. Submission to Jurisdiction.
Each of the parties hereto hereby irrevocably and unconditionally: 
 (a) submits for itself and, as applicable, its property, in any legal
action relating to this Agreement, the Program Documents or any other documents executed and delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the
courts of the State of New York, the courts of the United States of America for the Southern District of New York and appellate courts from any thereof; 

(b) consents that any such action may be brought in such courts and waives any objection that it may now or hereafter have to the venue of such
action in any such court or that such action was brought in an inconvenient court and agrees not to plead or claim the same; and 
 (c)
waives, to the fullest extent permitted by law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement, the Program Documents or the transactions contemplated hereby. 

Section 7.6. No Waiver; Remedies. No party’s failure or delay in exercising any power, right or remedy under this Agreement
will operate as a waiver. No single or partial exercise of any power, right or remedy will preclude any other or further exercise of the power, right or remedy or the exercise of any other power, right or remedy. The powers, rights and remedies
under this Agreement are in addition to any powers, rights and remedies under law. 

  
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 Section 7.7. Severability. Any provision of this Agreement that is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 Section 7.8. Headings.
The headings of the various Articles and Sections herein are for convenience of reference only and shall not define or limit any of the terms or provisions hereof. 

Section 7.9. Counterparts. This Agreement may be executed in multiple counterparts. Each counterpart will be an original, and all
counterparts will together be one document. 
 [Remainder of Page Intentionally Left Blank] 

  
 19 

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

			
	GM FINANCIAL AUTOMOBILE LEASING TRUST 2018-1

 
			
	
	By: WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee on behalf of the Trust.

 
			
		
	By:	 	 /s/ Clarice Wright

	Name:	 	Clarice Wright
	Title:	 	Assistant Vice President

 
			
	
	AMERICREDIT FINANCIAL SERVICES, INC. d/b/a GM FINANCIAL, as Servicer

 
			
		
	By:	 	 /s/ Sheli Fitzgerald

	Name:	 	Sheli Fitzgerald
	Title:	 	Senior Vice President, Corporate Treasury

 
			
	
	CLAYTON FIXED INCOME SERVICES LLC, as Asset Representations Reviewer

 
			
		
	By:	 	 /s/ Robert Harris

	Name:	 	Robert Harris
	Title:	 	Secretary

 [Signature Page to Asset Representations Review Agreement] 

 Schedule A 

Representation 
 1.
Origination. The 2018-1 Lease Agreement (a) was originated in the United States by the Titling Trust or a Dealer in the ordinary course of business and in accordance with GM Financial’s
underwriting guidelines for lease agreements, and, in the case of a 2018-1 Lease Agreement originated by a Dealer, pursuant to a Dealer Agreement which allows for recourse to the Dealer in the event of certain
defects in the 2018-1 Lease Agreement (but not for a default by the related Lessee), and (b) was not originated under a master lease contract. 

Documents 
 Lease Documents 

Procedures to be Performed 
  

	i.	Confirm the Lease Agreement lists the Titling Trust or an approved Dealer as the Lessor 

  

	ii.	If the Lessor is listed as a Dealer, confirm the Dealer name on the Lease Agreement matches the Dealer name on the Dealer Agreement 

  

	iii.	If the Lessor is listed as a Dealer, confirm the Dealer Agreement allows for recourse to the Dealer in the event of certain defects in the Lease Agreement 

 

	iv.	Confirm the Lease Agreement was not originated under a master lease contract 

  

	v.	If Steps (i) through (iv) are confirmed, then Test Pass 

  
 Schedule A -1 

 Representation 

2. Good Title. The Titling Trust has good title, or the Servicer has commenced procedures that will result in good title, to each 2018-1 Lease Agreement and each 2018-1 Leased Vehicle, free and clear of any Liens (other than the Liens in favor of the Collateral Agent granted in accordance with the Credit
and Security Agreement); and the Collateral Agent has a security interest in each 2018-1 Lease Agreement and the related 2018-1 Leased Vehicle which was validly created
and is a perfected, first priority security interest, and is noted as lienholder on the related Certificate of Title. 
 Documents 

Lease Documents 
 Procedures to be Performed 

 

	i.	Confirm the Certificate of Title or Application for Certificate of Title lists the Titling Trust as the titleholder of the Leased Vehicle 

 

	ii.	Confirm the Vehicle Identification Number (VIN) listed on the title documents matches the VIN number on the Lease Agreement 

  

	iii.	Confirm there is no evidence of any lien that would take priority over the Collateral Agent’s security interest 

  

	iv.	Confirm the Collateral Agent is listed on the Title Documents as the first priority lienholder 

  

	v.	If Steps (i) through (v) are confirmed, then Test Pass 

  
 Schedule A-2 

 Representation 

3. Compliance with Law. Each 2018-1 Lease Agreement complied in all material respects at the
time it was originated, and as of the date of the 2018-1 Servicing Supplement will comply in all material respects, with all requirements of federal, State and local laws. 

Documents 
 Lease Documents 

Procedures to be Performed 
  

	i.	Confirm the following sections are present on the contract and filled out: 

  

	 	a.	Name and address of Lessor 

  

	 	b.	Name and address of Lessee 

  

	 	c.	Vehicle Description 

  

	 	d.	Amount Due at Lease Signing 

  

	 	e.	Amount of Monthly Payment 

  

	 	f.	Number of Monthly Payments 

  

	 	g.	Other Charges 

  

	 	h.	Total of Payments 

  

	ii.	Confirm there is an itemization of the Amount Due at Lease Signing. 

  

	iii.	Confirm there is an itemization of the Monthly Payment 

  

	iv.	Confirm the following disclosures are included in the contract: 

  

	 	a.	Early Termination 

  

	 	b.	Excessive Wear 

  

	 	c.	Purchase Option 

  

	 	d.	Insurance Requirements 

  

	 	e.	Late Charges 

  

	v.	If Step (i) through (iv) are confirmed, then Test Pass 

  
 Schedule A-3 

 Representation 

4. Necessary Licenses and Approvals. All material consents, licenses, approvals or authorizations of, or registrations or declarations
with, any Governmental Authority required to be obtained, effected or given by the originator of such 2018-1 Lease Agreement in connection with (a) the origination or acquisition of such 2018-1 Lease Agreement, (b) the execution, delivery and performance of such 2018-1 Lease Agreement by the Titling Trust, and (c) the acquisition of such 2018-1 Lease Agreement and the related 2018-1 Leased Vehicle by the Titling Trust, were duly obtained, effected or given and were in full force and effect as of such date of
origination or acquisition. 
 Documents 
 Lease
Documents 
 Dealer Agreement 
 Procedures to be
Performed 
  

	i.	If the Lease Agreement was originated by GM Financial, review the Lease Documents and confirm GM Financial had all necessary licenses and permits as required by the state in which it was originated 

 

	ii.	If the Lease Agreement was originated by a Dealer, confirm the Dealer Agreement contains language confirming the dealer was required to have all necessary licenses and permits and there was no evidence to the contrary.

  

	iii.	If (i) and (ii) are confirmed, then Test Pass 

  
 Schedule A-4 

 Representation 

5. Binding Obligation. The 2018-1 Lease Agreement and all related Lease Documents were fully and
properly executed by the parties thereto and such 2018-1 Lease Agreement represents the legal, valid and binding full-recourse payment obligation of the related Lessee, enforceable against such Lessee in
accordance with its terms, except as enforceability is subject to or limited by bankruptcy, reorganization, insolvency, fraudulent conveyance, moratorium and other similar laws affecting the enforcement of creditors’ rights in general or
principles of equity (whether considered in a suit at law or in equity). 
 Documents 

Lease Documents 
 Procedures to be Performed 

 

	i.	Confirm the Lessee, Co-lessee and Lessor have signed the Lease Agreement 

  

	ii.	If Steps (i) and (ii) are confirmed, then Test Pass 

  
 Schedule A-5 

 Representation 

6. No Defenses. The 2018-1 Lease Agreement is not subject, to the best of the Seller’s and
Servicer’s knowledge, any right of rescission, cancellation, setoff, claim, counterclaim or any other defense (including defenses arising out of violations of usury laws) of the related Lessee to payment of the amounts due thereunder, and no
such right of rescission, cancellation, set-off, claim, counterclaim or any other defense (including defenses arising out of violations of usury laws) has been asserted or threatened. 

Documents 
 Lease Documents 

Procedures to be Performed 
  

	i.	Confirm there is no indication the Lease Agreement is subject to any right or threat of rescission, cancellation, setoff, claim, counterclaim or other defense 

 

	ii.	If confirmed, then Test Pass 

  
 Schedule A-6 

 Representation 

7. Satisfaction of Obligations. Each of GM Financial, the Titling Trust and, to the best of the Seller’s and Servicer’s
knowledge, the Dealer which originated the 2018-1 Lease Agreement, if any, has satisfied all respective obligations required to be fulfilled on its part with respect to such
2018-1 Lease Agreement and the related 2018-1 Leased Vehicle. 

Documents 
 Lease Documents 

Procedures to be Performed 
  

	i.	Confirm the Lease Agreement contains a Truth in Lending statement 

  

	ii.	If confirmed, then Test Pass 

  
 Schedule A-7 

 Representation 

8. U.S. Dollars. The 2018-1 Lease Agreement is payable solely in Dollars in the United States.

 Documents 
 Lease Documents 

Procedures to be Performed 
  

	i.	Confirm all dollar amounts within the Lease Agreement are denominated in US Dollars 

  

	ii.	If confirmed, then Test Pass 

  
 Schedule A-8 

 Representation 

9. No Government Obligors. The related Lessee is a Person other than GM Financial, any Affiliate or employee thereof or a Governmental
Authority and at the time of origination of the 2018-1 Lease Agreement, based on information provided by the Lessee, the Lessee is located in and has a billing address within the United States. 

Documents 
 Lease Documents 

Procedures to be Performed 
  

	i.	Confirm the Lessee is not GM Financial 

  

	ii.	Confirm the Lessee is not a Governmental Authority as of the origination of the Lease Agreement 

  

	iii.	Confirm the Lease Agreement reports the Lessee’s billing address within the United States 

  

	iv.	If tests (i) through (iii) are confirmed, then Test Pass 

  
 Schedule A-9 

 Representation 

10. No Bankrupt Lessees. As of the Cutoff Date, the related Lessee has not been identified on the records of GM Financial as being the
subject of a current bankruptcy proceeding. 
 Documents 

data tape 
 Procedures to be Performed 

 

	i.	Review the data tape and confirm the Lessee is not involved in active bankruptcy proceeding as of the Cutoff Date 

  

	ii.	If confirmed, then Test Pass 

  
 Schedule A-10 

 Representation 

11. Insurance. The 2018-1 Lease Agreement requires the Lessee thereunder to maintain
(a) physical damage and liability insurance covering the related 2018-1 Leased Vehicle, and (b) insurance against loss and damage due to fire, theft, transportation, collision and other risks
generally covered by comprehensive and collision coverage. 
 Documents 

Lease Documents 
 Procedures to be Performed 

 

	i.	Confirm the Lease Agreement contains language requiring the Lessee to maintain physical damage and liability insurance on the vehicle 

 

	ii.	Confirm the Lease Agreement contains language requiring the Lessee to obtain insurance against loss and damage due to fire, theft, transportation, collision and other risks generally covered by comprehensive and
collision coverage 

  

	iii.	If (i) and (ii) are confirmed, then Test Pass 

  
 Schedule A-11 

 Representation 

12. Security Interest in Leased Vehicle. The related 2018-1 Leased Vehicle is titled in the name
of a Titling Trust Permissible Name and the Collateral Agent is listed as the recorded lienholder or recorded holder of a security interest in such 2018-1 Leased Vehicle, or the Servicer has commenced
procedures that will result in such 2018-1 Leased Vehicle being titled in the name of a Titling Trust Permissible Name and the Collateral Agent being listed as recorded lienholder or recorded holder of a
security interest in such 2018-1 Leased Vehicle. 
 Documents 

Lease Documents 
 Procedures to be Performed 

 

	i.	Confirm the Certificate of Title or Application for Certificate of Title lists the Titling Trust as the titleholder of the Leased Vehicle 

 

	ii.	Confirm the Vehicle Identification Number (VIN) listed on the title documents matches the VIN number on the Lease Agreement 

  

	iii.	Confirm the Collateral Agent is listed on the Title Documents as the first priority lienholder 

  

	iv.	If Steps (i) through (iii) are confirmed, then Test Pass 

  
 Schedule A-12 

 Representation 

13. Simple Interest. The 2018-1 Lease Agreement is a
closed-end lease that provides for equal monthly payments by the Lessee, which scheduled payments, if made when due, fully amortize the net capitalized cost of such
2018-1 Lease Agreement to the Booked Residual Value by the end of the Lease Term, based on the related APR. 

Documents 
 Lease Documents 

Procedures to be Performed 
  

	i.	Confirm the monthly payment reported on the Lease Agreement are level 

  

	ii.	Confirm the product of the number of payments and the amount of the payments fully amortizes the net capitalized cost 

  

	iii.	If Steps (i) and (ii) are confirmed, then Test Pass 

  
 Schedule A-13 

 Representation 

14. Lawful Assignment. The 2018-1 Lease Agreement is fully assignable by the Lessor and does not
require the consent of the related Lessee or any other Person as a condition to any transfer, sale, assignment or granting of a security interest of the rights thereunder to or by the Titling Trust. 

Documents 
 Lease Documents 

Procedures to be Performed 
  

	i.	Confirm the Lease Agreement contains disclosures that grant the lessor the ability to fully assign its interests without the consent of the related Lessee or any other Person 

 

	ii.	If confirmed, then Test Pass 

  
 Schedule A-14 

 Representation 

15. No Material Amendments or Modifications. The 2018-1 Lease Agreement has not been modified in
any way except in accordance with the Customary Servicing Practices. 
 Documents 

Lease Documents 
 Procedures to be Performed 

 

	i.	Confirm the Lease Agreement has not been modified in any way except in accordance with the Customary Servicing Practices 

  

	ii.	If confirmed, then Test Pass 

  
 Schedule A-15 

 Representation 

16. No Default. As of the Cutoff Date, the 2018-1 Lease Agreement is not a Liquidated Lease, a
Defaulted Lease or a Delinquent Lease and, except as permitted in this paragraph, to the best of the Seller’s and Servicer’s knowledge, no default, breach, violation or event permitting acceleration under its terms has occurred; and to the
best of the Seller’s and Servicer’s knowledge, no continuing condition that with notice or the lapse of time would constitute a default, breach, violation or event permitting acceleration under its terms has arisen; and GM Financial has
not waived, and shall not waive, any of the foregoing. 
 Documents 

data tape 
 Procedures to be Performed 

 

	i.	Confirm the Lease is active as of the Cutoff Date 

  

	ii.	Confirm the Lease is not delinquent as of the Cutoff Date 

  

	iii.	Confirm there is no evidence of a breach, violation or event permitting acceleration of the terms of the Lease Agreement 

  

	iv.	Confirm there is no continuing conditions that has arisen that would lead to a default, breach, violation or even permitting acceleration under the Lease terms 

 

	v.	If (i) through (iv) are confirmed, then Test Pass 

  
 Schedule A-16 

 Representation 

17. Vehicle. The related 2018-1 Leased Vehicle is a car, light truck or utility vehicle
manufactured by General Motors Company or an Affiliate thereof. 
 Documents 

Lease Documents 
 Procedures to be Performed 

 

	i.	Confirm the Vehicle is a car, light truck or utility vehicle 

  

	ii.	Confirm the Vehicle was manufactured by General Motors Company or an Affiliate 

  

	iii.	If (i) and (ii) are confirmed, then Test Pass 

  
 Schedule A-17 

 Representation 

18. Chattel Paper. The 2018-1 Lease Agreement constitutes “tangible chattel paper” or
“electronic chattel paper” within the meaning of the UCC. 
 Documents 

Lease Documents 
 Procedures to be Performed 

 

	i.	Confirm there is a signature under the appropriate lessee, co-lessee and lessor signature lines within the Lease Agreement 

 

	ii.	Confirm the Lease Agreement reports an monetary obligation greater than zero 

  

	iii.	Confirm the Title Documents report the Collateral Agent has a security interest in the Lease Agreement 

  

	iv.	If Steps (i) through (iii) are confirmed, then Test Pass 

  
 Schedule A-18 

 Representation 

19. Leases in Force. The 2018-1 Lease Agreement is in full force and effect and, to the best of
the Seller’s and Servicer’s knowledge, has not been satisfied, subordinated, rescinded, cancelled or terminated. 
 Documents 

Lease Documents 
 Procedures to be Performed 

 

	i.	Confirm there is no evidence within the Lease Documents that the Lease has been subordinated, rescinded, cancelled or terminated 

  

	ii.	Confirm there is no evidence within the Lease Documents that the Lease has been satisfied prior to the Cutoff Date 

  

	iii.	If Steps (i) through (ii) are confirmed, then Test Pass 

  
 Schedule A-19 

 Representation 

20. Schedule of Leases. The 2018-1 Lease Agreement has been identified in the Schedule of 2018-1 Lease Agreements and 2018-1 Leased Vehicles and such Schedule of 2018-1 Lease Agreements and
2018-1 Leased Vehicles is accurate in all material respects and the 2018-1 Lease Agreement has not been allocated to any other Designated Pool. 

Documents 
 data tape 

Procedures to be Performed 
  

	i.	Confirm the Lease number reported in the data tape matches the Lease number reported in the Schedule of 2018-1 Lease Agreements and 2018-1
Leased Vehicles 

  

	ii.	If confirmed, Test Pass 

  
 Schedule A-20 

 Representation 

21. Maturity Date. At origination the Maturity Date with respect to the 2018-1 Lease Agreement
was not less than twelve (12) months or more than sixty (60) months after the date of origination. 
 Documents 

Lease Documents 
 Procedures to be Performed 

 

	i.	Confirm the Lease Agreement reports the lease term within the allowable range 

  

	ii.	If confirmed, then Test Pass 

  
 Schedule A-21 

 Representation 

22. Securitization Value. As of the 2018-1 Cutoff Date, each
2018-1 Lease Agreement had a Securitization Value not less than $5,000.000 and no more than $150,000.00. 

Documents 
 Lease Documents 

Procedures to be Performed 
  

	i.	Confirm the Lease Agreement reports the Securitization value within the allowable range. 

  

	ii.	If confirmed, then Test Pass 

  
 Schedule A-22 

 Representation 

23. One Original. With respect to any 2018-1 Lease Agreement that constitutes “electronic
chattel paper” under the UCC, (a) a single electronically authenticated authoritative copy (within the meaning of the UCC) of the 2018-1 Lease Agreement is continuously maintained by the Servicer,
and (b) the Servicer is able (1) to transfer the electronically authenticated authoritative copy of the related 2018-1 Lease Agreement to a separate electronic vault at the related econtracting
facilitator that is controlled by the applicable Successor Servicer or to an electronic vault at the applicable successor Servicer, or (2) to export the electronically authenticated authoritative copy from the electronic vault and deliver a
physical copy of the exported 2018-1 Lease Agreement to the successor Servicer. 
 Documents 

Lease Documents 
 E-Vault

 Procedures to be Performed 
  

	i.	If the Lease Agreement constitutes “electronic chattel paper”, confirm it is an electronically authenticated authoritative copy and 

 

	ii.	Confirm the authoritative copy of the Lease Agreement was signed by all parties 

  

	iii.	If (i) and (ii) are confirmed, then Test Pass 

  
 Schedule A-23

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