Document:

EX-4.2

 

 Exhibit 4.2

Execution Copy

 

SECOND AMENDED AND RESTATED

TRUST AGREEMENT

among

DAIMLERCHRYSLER FINANCIAL SERVICES AMERICAS LLC,

as Depositor,

DAIMLERCHRYSLER RETAIL RECEIVABLES LLC

and

BNYM (DELAWARE),

as Owner Trustee

Dated as of February 1, 2008

 

 

 

Table of Contents

Page

ARTICLE I

Definitions

	 	 	 	 	 	 	 
	SECTION 1.01.

	 	Capitalized Terms
	 	 	1	 
	SECTION 1.02.

	 	Other Definitional Provisions
	 	 	3	 

ARTICLE II

Organization

	 	 	 	 	 	 	 
	SECTION 2.01.

	 	Name
	 	 	4	 
	SECTION 2.02.

	 	Office
	 	 	4	 
	SECTION 2.03.

	 	Purposes and Powers
	 	 	4	 
	SECTION 2.04.

	 	Appointment of Owner Trustee
	 	 	5	 
	SECTION 2.05.

	 	Initial Capital Contribution of Owner Trust Estate
	 	 	5	 
	SECTION 2.06.

	 	Declaration of Trust
	 	 	5	 
	SECTION 2.07.

	 	Liability of Owners
	 	 	6	 
	SECTION 2.08.

	 	Title to Trust Property
	 	 	6	 
	SECTION 2.09.

	 	Situs of Trust
	 	 	6	 
	SECTION 2.10.

	 	Representations and Warranties of Depositor
	 	 	6	 

ARTICLE III

Certificates and Transfer of Interests

	 	 	 	 	 	 	 
	SECTION 3.01.

	 	Initial Ownership
	 	 	7	 
	SECTION 3.02.

	 	The Certificates
	 	 	7	 
	SECTION 3.03.

	 	Authentication of Certificates
	 	 	7	 
	SECTION 3.04.

	 	Registration of Transfer and
Exchange of the Certificates;
Limitations on Transfer
	 	 	8	 
	SECTION 3.05.

	 	Mutilated, Destroyed, Lost or Stolen Certificates
	 	 	10	 
	SECTION 3.06.

	 	Persons Deemed Owners
	 	 	10	 
	SECTION 3.07.

	 	Access to List of Certificateholders’ Names and Addresses
	 	 	10	 
	SECTION 3.08.

	 	Maintenance of Office or Agency
	 	 	10	 
	SECTION 3.09.

	 	Definitive Certificates
	 	 	11	 

ARTICLE IV

Actions by Owner Trustee

	 	 	 	 	 	 	 
	SECTION 4.01.

	 	Prior Notice to Owners with Respect to Certain Matters
	 	 	11	 
	SECTION 4.02.

	 	Action by Owners with Respect to Certain Matters
	 	 	12	 
	SECTION 4.03.

	 	Action by Owners with Respect to Bankruptcy
	 	 	12	 
	SECTION 4.04.

	 	Restrictions on Owners’ Power
	 	 	12	 

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ARTICLE V

Application of Trust Funds; Certain Duties

	 	 	 	 	 	 	 
	SECTION 5.01.

	 	Establishment of Deposit Account
	 	 	12	 
	SECTION 5.02.

	 	Application of Trust Funds
	 	 	12	 
	SECTION 5.03.

	 	Accounting and Reports to Owners,
Internal Revenue Service
and Others
	 	 	12	 

ARTICLE VI

Authority and Duties of Owner Trustee

	 	 	 	 	 	 	 
	SECTION 6.01.

	 	General Authority
	 	 	13	 
	SECTION 6.02.

	 	General Duties
	 	 	13	 
	SECTION 6.03.

	 	Action upon Instruction
	 	 	13	 
	SECTION 6.04.

	 	No Duties Except as Specified in this Agreement or in Instructions
	 	 	15	 
	SECTION 6.05.

	 	No Action Except Under Specified Documents or Instructions
	 	 	15	 
	SECTION 6.06.

	 	Restrictions
	 	 	15	 

ARTICLE VII

Concerning Owner Trustee

	 	 	 	 	 	 	 
	SECTION 7.01.

	 	Acceptance of Trusts and Duties
	 	 	15	 
	SECTION 7.02.

	 	Furnishing of Documents
	 	 	16	 
	SECTION 7.03.

	 	Representations and Warranties
	 	 	16	 
	SECTION 7.04.

	 	Reliance; Advice of Counsel
	 	 	17	 
	SECTION 7.05.

	 	Not Acting in Individual Capacity
	 	 	17	 
	SECTION 7.06.

	 	Owner Trustee Not Liable for Certificates or Receivables
	 	 	17	 
	SECTION 7.07.

	 	Owner Trustee May Own Certificates and Notes
	 	 	18	 
	SECTION 7.08.

	 	Sales Finance Licenses
	 	 	18	 

ARTICLE VIII

Compensation of Owner Trustee

	 	 	 	 	 	 	 
	SECTION 8.01.

	 	Owner Trustee’s Fees and Expenses
	 	 	18	 
	SECTION 8.02.

	 	Indemnification
	 	 	18	 
	SECTION 8.03.

	 	Payments to Owner Trustee
	 	 	19	 

ARTICLE IX

Termination of Trust Agreement

	 	 	 	 	 	 	 
	SECTION 9.01.

	 	Termination of Trust Agreement
	 	 	19	 

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ARTICLE X

Successor Owner Trustees and Additional Owner Trustees

	 	 	 	 	 	 	 
	SECTION 10.01.

	 	Eligibility Requirements for Owner Trustee
	 	 	20	 
	SECTION 10.02.

	 	Resignation or Removal of Owner Trustee
	 	 	20	 
	SECTION 10.03.

	 	Successor Owner Trustee
	 	 	21	 
	SECTION 10.04.

	 	Merger or Consolidation of Owner Trustee
	 	 	21	 
	SECTION 10.05.

	 	Appointment of Co-Trustee or Separate Trustee
	 	 	21	 

ARTICLE XI

Miscellaneous

	 	 	 	 	 	 	 
	SECTION 11.01.

	 	Supplements and Amendments
	 	 	23	 
	SECTION 11.02.

	 	No Legal Title to Owner Trust Estate in Owners
	 	 	24	 
	SECTION 11.03.

	 	Limitations on Rights of Others
	 	 	24	 
	SECTION 11.04.

	 	Notices
	 	 	24	 
	SECTION 11.05.

	 	Severability
	 	 	25	 
	SECTION 11.06.

	 	Separate Counterparts
	 	 	25	 
	SECTION 11.07.

	 	Successors and Assigns
	 	 	25	 
	SECTION 11.08.

	 	No Petition
	 	 	25	 
	SECTION 11.09.

	 	No Recourse
	 	 	25	 
	SECTION 11.10.

	 	Headings
	 	 	25	 
	SECTION 11.11.

	 	GOVERNING LAW
	 	 	25	 
	SECTION 11.12.

	 	Certificate Transfer Restrictions
	 	 	25	 
	SECTION 11.13.

	 	Depositor Payment Obligation
	 	 	26	 

iii

 

EXHIBITS

	 	 	 	 	 
	EXHIBIT A

	 	Form of Certificate
	 	A-1
	EXHIBIT B-1

	 	Certificate of Trust of DaimlerChrysler Auto Trust 2007-B
	 	B-1
	EXHIBIT B-2

	 	Certificate of Amendment of DaimlerChrysler Auto Trust 2007-B
	 	B-2
	EXHIBIT C

	 	Form of Transferor Certificate
	 	C-1
	EXHIBIT D

	 	Form of Investment Letter
	 	D-1
	EXHIBIT E

	 	Form of Rule 144A Letter
	 	E-1

iv

 

     SECOND AMENDED AND RESTATED TRUST AGREEMENT dated as of February 1, 2008, among
DAIMLERCHRYSLER FINANCIAL SERVICES AMERICAS LLC, a Michigan limited liability company, as depositor
(the “Depositor”), DAIMLERCHRYSLER RETAIL RECEIVABLES LLC (“DCRR”), a Michigan limited liability
company, and BNYM (DELAWARE), a Delaware banking corporation, as owner trustee.

     WHEREAS, the Owner Trustee and DCRR entered into a Trust Agreement dated November 1, 2006 (the
“Original Trust Agreement”) for the purpose of forming DaimlerChrysler Auto Trust 2008-A;

     WHEREAS, the Original Trust Agreement was amended pursuant to an amended and restated trust
agreement, dated as of January 17, 2008 (as so amended and restated, “Amended and Restated Trust
Agreement”);

     WHEREAS, the Amended and Restated Trust Agreement is being amended and restated as of February
1, 2008;

     WHEREAS, the Depositor and DCRR have agreed that the Depositor will assume all of DCRR’s
rights and interests with respect to the Trust;

     WHEREAS, the Depositor and Chrysler Residual Holdco LLC (the “Company”) have entered into a
Purchase Agreement dated as of February 1, 2008 (the “Purchase Agreement”), pursuant to which the
Depositor will assign to the Company any and all of the Depositor’s rights and interests with
respect to the Trust represented by the Certificates; and

     WHEREAS, in connection therewith, the Depositor is willing to assume certain obligations
pursuant hereto;

     NOW, THEREFORE, the Depositor, DCRR and the Owner Trustee hereby agree as follows:

ARTICLE I

Definitions

     SECTION 1.01. Capitalized Terms. For all purposes of this Agreement, the following
terms shall have the meanings set forth below:

     “Administration Agreement” shall mean the Administration Agreement dated as of
February 1, 2008, among the Trust, the Indenture Trustee and DCFS, as Administrator.

     “Agreement” shall mean this Second Amended and Restated Trust Agreement, as the same
may be amended and supplemented from time to time.

     “Basic Documents” shall mean this Agreement, the Purchase Agreement, the Sale and
Servicing Agreement, the Indenture, the Administration Agreement, the Note Depository Agreement,
the Hedges and the other documents and certificates delivered in connection therewith.

 

 

     “Benefit Plan” shall have the meaning assigned to such term in Section 11.12.

     “Certificate” shall mean a certificate evidencing the beneficial interest of an Owner
in the Trust, substantially in the form attached hereto as Exhibit A.

     “Certificate of Trust” shall mean the Certificate of Trust filed for the Trust
pursuant to Section 3810(a) of the Statutory Trust Statute, as originally filed with the Secretary
of State of Delaware on November 1, 2006, a copy of which is attached hereto as Exhibit B-1 and the
Certificate of Amendment filed for the Trust pursuant to Section 3810(a) of the Statutory Trust
Statute, as filed with the Secretary of State of Delaware on January 17, 2008, a copy of which is
attached hereto as Exhibit B-2.

     “Certificate Register” and “Certificate Registrar” shall mean the register
mentioned in and the registrar appointed pursuant to Section 3.04(a).

     “Certificateholder” or “Owner” shall mean a Person in whose name a Certificate
is registered.

     “Code” shall mean the Internal Revenue Code of 1986, as amended, and Treasury
Regulations promulgated thereunder.

     “Company” shall mean Chrysler Residual Holdco LLC, a Delaware limited liability
company, and any successor in interest.

     “Corporate Trust Office” shall mean, with respect to the Owner Trustee, the principal
corporate trust office of the Owner Trustee located at c/o BNYM (Delaware), 100 White Clay Center,
Route 273, P.O. Box 6995, Newark, Delaware, 19711, Attention: Corporate Trust and Agency Services
Group with a copy to The Bank of New York, 101 Barclay Street, 8W, New York, New York 10286,
Attention: Asset Backed Securities Unit, or at such other address as the Owner Trustee may
designate by notice to the Owners, the Depositor and DCRR, or the principal corporate trust office
of any successor Owner Trustee at the address designated by such successor Owner Trustee by notice
to the Owners, the Depositor and DCRR.

     “DCFS” shall mean DaimlerChrysler Financial Services Americas LLC, a Michigan limited
liability company, and any successor in interest.

     “DCRR” shall mean DaimlerChrysler Retail Receivables LLC, a Michigan limited liability
company, and any successor in interest.

     “Depositor” shall mean DCFS in its capacity as depositor hereunder.

     “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended.

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

     “Expenses” shall have the meaning assigned to such term in Section 8.02.

     “Indemnified Parties” shall have the meaning assigned to such term in Section 8.02.

2

 

     “Indenture” shall mean the Indenture dated as of February 1, 2008 between the Trust
and Deutsche Bank Trust Company Americas, as Indenture Trustee.

     “Note Depository Agreement” shall mean the agreement dated February 20, 2008 between
the Trust and The Depository Trust Company, as the initial Clearing Agency, relating to the Class
A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3a Notes, the Class A-3b Notes
and the Class A-4 Notes, as the same may be amended and supplemented from time to time.

     “Opinion of Counsel” shall mean one or more written opinions of counsel, who may be an
employee of or counsel to DCFS, DCRR, the Company or the Servicer, which counsel shall be
acceptable to the Indenture Trustee, the Owner Trustee or the Rating Agencies, as applicable.

     “Owner Trust Estate” shall mean all right, title and interest of the Trust in and to
the property and rights assigned to the Trust pursuant to Article II of the Sale and Servicing
Agreement, all funds on deposit from time to time in the Deposit Account and all other property of
the Trust from time to time, including any rights of the Owner Trustee and the Trust pursuant to
the Sale and Servicing Agreement and the Administration Agreement.

     “Owner Trustee” shall mean BNYM (Delaware), a Delaware banking corporation, not in its
individual capacity but solely as owner trustee under this Agreement, and any successor Owner
Trustee hereunder.

     “Percentage Interest” means (a) with respect to the Certificates, the percentage
interest in the Trust represented by a particular Certificate, and (b) with respect to the Class D
Notes, the percentage of the Class D Stated Principal Amount represented by a particular Class D
Note.

     “Record Date” shall mean, with respect to any Payment Date, the 15th day of the month
preceding such Payment Date.

     “Residual Transfers” shall have the meaning assigned to such term in Section 3.04(b).

     “Sale and Servicing Agreement” shall mean the Sale and Servicing Agreement dated as of
February 1, 2008, between the Trust, as issuer, and the Depositor, as seller and servicer, as the
same may be amended or supplemented from time to time.

     “Secretary of State” shall mean the Secretary of State of the State of Delaware.

     “Statutory Trust Statute” shall mean Chapter 38 of Title 12 of the Delaware Code, 12
Del. Code § 3801 et seq., as the same may be amended from time to time.

     “Treasury Regulations” shall mean regulations, including proposed or temporary
Regulations, promulgated under the Code. References herein to specific provisions of proposed
or temporary regulations shall include analogous provisions of final Treasury Regulations or
other successor Treasury Regulations.

     “Trust” shall mean the trust continued pursuant to this Agreement.

     SECTION 1.02. Other Definitional Provisions.

3

 

     (a) Capitalized terms used and not otherwise defined herein have the meanings assigned to them
in the Sale and Servicing Agreement or, if not defined therein, in the Indenture.

     (b) All terms defined in this Agreement shall have the defined meanings when used in any
certificate or other document made or delivered pursuant hereto unless otherwise defined therein.

     (c) As used in this Agreement and in any certificate or other document made or delivered
pursuant hereto or thereto, accounting terms not defined in this Agreement or in any such
certificate or other document, and accounting terms partly defined in this Agreement or in any such
certificate or other document to the extent not defined, shall have the respective meanings given
to them under generally accepted accounting principles. To the extent that the definitions of
accounting terms in this Agreement or in any such certificate or other document are inconsistent
with the meanings of such terms under generally accepted accounting principles, the definitions
contained in this Agreement or in any such certificate or other document shall control.

     (d) The words “hereof,” “herein,” “hereunder” and words of similar import when used in this
Agreement shall refer to this Agreement as a whole and not to any particular provision of this
Agreement; Section and Exhibit references contained in this Agreement are references to Sections
and Exhibits in or to this Agreement unless otherwise specified; and the term “including” and its
variations shall be deemed to be followed by “without limitation”.

     (e) The definitions contained in this Agreement are applicable to the singular as well as the
plural forms of such terms and to the masculine as well as to the feminine and neuter genders of
such terms.

     (f) Any agreement, instrument or statute defined or referred to herein or in any instrument or
certificate delivered in connection herewith means such agreement, instrument or statute as from
time to time amended, modified or supplemented and includes (in the case of agreements or
instruments) references to all attachments thereto and instruments incorporated therein; references
to a Person are also to its permitted successors and assigns.

ARTICLE II

Organization

     SECTION 2.01. Name . The Trust created hereby shall be known as “DaimlerChrysler Auto Trust 2008-A,” in which
name the Owner Trustee may conduct the business of the Trust, make and execute contracts and other
instruments on behalf of the Trust and sue and be sued.

     SECTION 2.02. Office. The office of the Trust shall be in care of the Owner Trustee
at the Corporate Trust Office or at such other address in Delaware as the Owner Trustee may
designate by written notice to the Owners, the Depositor and the Company.

     SECTION 2.03. Purposes and Powers. The purpose of the Trust is to engage in the
following activities:

4

 

     (i) to issue the Notes pursuant to the Indenture and the Certificates pursuant to this
Agreement and to sell the Notes and the Certificates;

     (ii) with the proceeds of the sale of the Notes, to purchase the Receivables, to fund
the Reserve Account, to enter into interest rate swaps and caps and other derivative
instruments in connection with the Class A-2b Notes and the Class A-3b Notes, to pay the
organizational, start-up and transactional expenses of the Trust and to pay the balance to
the Depositor pursuant to the Sale and Servicing Agreement;

     (iii) to assign, grant, transfer, pledge, mortgage and convey the Trust Estate pursuant
to the Indenture;

     (iv) to enter into and perform its obligations under the Basic Documents to which it is
to be a party; and

     (v) to engage in those activities, including entering into agreements, that are
necessary or suitable to accomplish the foregoing or are incidental thereto or connected
therewith.

The Trust is hereby authorized to engage in the foregoing activities. The Trust shall not engage
in any activity other than in connection with the foregoing or other than as required or authorized
by the terms of this Agreement or the Basic Documents.

     SECTION 2.04. Appointment of Owner Trustee. The Depositor hereby appoints the Owner
Trustee as trustee of the Trust effective as of the date hereof, to have all the rights, powers and
duties set forth herein.

     SECTION 2.05. Initial Capital Contribution of Owner Trust Estate. DCRR has previously
sold, assigned, transferred, conveyed and set over to the Owner Trustee, as of the date of the
Original Trust Agreement, the sum of $1. The Owner Trustee hereby acknowledges receipt in trust
from DCRR, as of the date hereof, of the foregoing contribution, which shall constitute the initial
Owner Trust Estate and shall be deposited in the Deposit Account. The Depositor will be assuming
certain rights and responsibilities of DCRR as of the date of this Agreement. Therefore, the Depositor shall pay organizational expenses of
the Trust as they may arise or shall, upon the request of the Owner Trustee, promptly reimburse the
Owner Trustee for any such expenses paid by the Owner Trustee.

     SECTION 2.06. Declaration of Trust. The Owner Trustee hereby declares that it will
hold the Owner Trust Estate in trust upon and subject to the conditions set forth herein for the
use and benefit of the Owners, subject to the obligations of the Trust under the Basic Documents.
It is the intention of the parties hereto that the Trust constitute a statutory trust under the
Statutory Trust Statute and that this Agreement constitute the governing instrument of such
statutory trust. It is the intention of the parties hereto that, solely for income and franchise
tax purposes, (i) so long as there is a sole Owner, the Trust shall be treated as a security
arrangement, with the assets of the Trust being the Receivables and other assets held by the Trust,
the owner of the Receivables being the sole Owner and the Senior Notes being non-recourse debt of
the sole Owner and (ii) if there is more than one Owner, the Trust shall be treated as a
partnership for income and franchise tax purposes, with the assets of the partnership being the
Receivables and other assets held by the Trust, the partners of the partnership being the

5

 

Owners (including the Company as assignee of the Depositor pursuant to
the Purchase Agreement, in its capacity as recipient of distributions from the Reserve Account) and
the Senior Notes being debt of the partnership. The parties agree that, unless otherwise required
by appropriate tax authorities, the Trust will file or cause to be filed annual or other necessary
returns, reports and other forms consistent with the characterization of the Trust as provided in
the preceding sentence for such tax purposes. Effective as of the date hereof, the Owner Trustee
shall have all rights, powers and duties set forth herein and in the Statutory Trust Statute with
respect to accomplishing the purposes of the Trust.

     SECTION 2.07. Liability of Owners. The Owners shall be entitled to the same
limitation of personal liability extended to stockholders of private corporations for profit
organized under the general corporation law of the State of Delaware.

     SECTION 2.08. Title to Trust Property. Legal title to all the Owner Trust Estate
shall be vested at all times in the Trust as a separate legal entity except where applicable law in
any jurisdiction requires title to any part of the Owner Trust Estate to be vested in a trustee or
trustees, in which case title shall be deemed to be vested in the Owner Trustee, a co-trustee
and/or a separate trustee, as the case may be.

     SECTION 2.09. Situs of Trust. The Trust will be located and administered in the State
of Delaware. All bank accounts maintained by the Owner Trustee on behalf of the Trust shall be
located in the State of Delaware or the State of New York. The Trust shall not have any employees
in any state other than Delaware; provided, however, that nothing herein shall restrict or prohibit
the Owner Trustee from having employees within or outside of the State of Delaware. Payments will
be received by the Trust only in Delaware or New York, and payments will be made by the Trust only
from Delaware or New York. The only office of the Trust will be at the Corporate Trust Office in
Delaware.

     SECTION 2.10. Representations and Warranties of Depositor. The Depositor hereby
represents and warrants to the Owner Trustee that:

     (i) The Depositor is duly organized and validly existing as a limited liability company
in good standing under the laws of the State of Michigan, with power and authority to own
its properties and to conduct its business as such properties are currently owned and such
business is presently conducted.

     (ii) The Depositor is duly qualified to do business as a foreign 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 property or the conduct of its business
shall require such qualifications.

     (iii) The Depositor has the power and authority to execute and deliver this Agreement
and to carry out its terms; the Depositor has full power and authority to sell and assign
the property to be sold and assigned to and deposited with the Trust and the Depositor has
duly authorized such sale and assignment and deposit to the Trust by all necessary corporate
action; and the execution, delivery and performance of this Agreement have been duly
authorized by the Depositor by all necessary action of a limited liability company.

6

 

     (iv) The consummation of the transactions contemplated by this Agreement and the
fulfillment of the terms hereof do not conflict with, result in any breach of any of the
terms and provisions of, or constitute (with or without notice or lapse of time) a default
under, the articles of organization or operating agreement of the Depositor, or any
indenture, agreement or other instrument to which the Depositor is a party or by which it is
bound; nor result in the creation or imposition of any Lien upon any of its properties
pursuant to the terms of any such indenture, agreement or other instrument (other than
pursuant to the Basic Documents); nor violate any law or, to the best of the Depositor’s
knowledge, any order, rule or regulation applicable to the Depositor of any court or of any
federal or state regulatory body, administrative agency or other governmental
instrumentality having jurisdiction over the Depositor or its properties.

     (v) To the Depositor’s best knowledge, there are no proceedings or investigations
pending or threatened before any court, regulatory body, administrative agency or other
governmental instrumentality having jurisdiction over the Depositor or its properties:
(A) asserting the invalidity of this Agreement, (B)  seeking to prevent the consummation of
any of the transactions contemplated by this Agreement or (C) seeking any determination or
ruling that might materially and adversely affect the performance by the Depositor of its
obligations under, or the validity or enforceability of, this Agreement.

     (vi) The representations and warranties of the Company and the Depositor in Sections
3.01 and 3.02 of the Purchase Agreement are true and correct.

ARTICLE III

Certificates and Transfer of Interests

     SECTION 3.01. Initial Ownership. Upon the formation of the Trust by the contribution by DCRR as described in Section 2.05
and until the issuance of the Certificates, the Depositor shall be the sole beneficiary of the
Trust.

     SECTION 3.02. The Certificates. The Certificates shall be issued in minimum
denominations of a one percent Percentage Interest in the Trust. The Certificates shall be
executed on behalf of the Trust by manual or facsimile signature of an authorized officer of the
Owner Trustee. Certificates bearing the manual or facsimile signatures of individuals who were, at
the time when such signatures shall have been affixed, authorized to sign on behalf of the Trust,
shall be validly issued and entitled to the benefit of this Agreement, notwithstanding that such
individuals or any of them shall have ceased to be so authorized prior to the authentication and
delivery of such Certificates or did not hold such offices at the date of authentication and
delivery of such Certificates.

     A transferee of a Certificate shall become a Certificateholder and shall be entitled to the
rights and subject to the obligations of a Certificateholder hereunder upon such transferee’s
acceptance of a Certificate duly registered in such transferee’s name pursuant to Section 3.04.

     SECTION 3.03. Authentication of Certificates. On the Closing Date, the Owner Trustee
shall cause the Certificates in an aggregate Percentage Interest equal to 100% to be executed on
behalf of the Trust, authenticated and delivered to or upon the written order of the Depositor,
signed by its chairman of the board, its president, any vice president, secretary or any

7

 

assistant
treasurer, without further corporate action by the Depositor, in the authorized denominations. No
Certificate shall entitle its Owner to any benefit under this Agreement or be valid for any purpose
unless there shall appear on such Certificate a certificate of authentication substantially in the
form set forth in Exhibit A, executed by the Owner Trustee or the Indenture Trustee, as the Trust’s
authenticating agent, by manual signature; such authentication shall constitute conclusive evidence
that such Certificate shall have been duly authenticated and delivered hereunder. All Certificates
shall be dated the date of their authentication.

     SECTION 3.04. Registration of Transfer and Exchange of the Certificates; Limitations on
Transfer. (a) The Trust shall cause to be kept a Certificate Register in which, subject to
such reasonable regulations as it may prescribe, the Trust shall provide for the registration of
Certificates and the registration of transfers of Certificates. The Trust hereby appoints the
Indenture Trustee to be the initial “Certificate Registrar” for the purpose of the registration of
the Certificates and of transfers and exchanges of Certificates as herein provided. Upon any
resignation of any Certificate Registrar, the Trust shall promptly appoint a successor or, if it
elects not to make such an appointment, assume the duties of Certificate Registrar.

     (b) The Certificates have not been and will not be registered under the Securities Act and
will not be listed on any exchange. No transfer of a Certificate shall be made unless such
transfer is made pursuant to an effective registration statement under the Securities Act and any
applicable state securities laws or is exempt from the registration requirements under the
Securities Act and such state securities laws. Except in the case of transfers made on the Closing
Date to the Company or any of its affiliates (including Chrysler Residual Depositor LLC and
Chrysler Retail Residual Trust (or Deutsche Bank Trust Company Americas, as indenture trustee
therefor)) (the “Residual Transfers”), in the event that a transfer is to be made in
reliance upon an exemption from the Securities Act and state securities laws, in order to assure
compliance with the Securities Act and such laws, the Owner desiring to effect such transfer and
such Owner’s prospective transferee shall each certify to the Owner Trustee and the Certificate
Registrar in writing the facts surrounding the transfer in substantially the forms set forth in
Exhibit C (the “Transferor Certificate”) and either Exhibit D (the “Investment Letter”) or
Exhibit E (the “Rule 144A Letter”). Except in the case of (i) Residual Transfers or (ii) a
transfer as to which the proposed transferee has provided a Rule 144A Letter, there shall also be
delivered to the Owner Trustee and the Certificate Registrar an Opinion of Counsel that such
transfer may be made pursuant to an exemption from the Securities Act and state securities laws,
which Opinion of Counsel shall not be an expense of the Trust or the Owner Trustee; provided that
such Opinion of Counsel in respect of the applicable state securities laws may be a memorandum of
law rather than an opinion if such counsel is not licensed in the applicable jurisdiction. The
Depositor shall provide to any Owner of a Certificate and any prospective transferee designated by
any such Owner, information regarding the Certificates and the Receivables and such other
information as shall be necessary to satisfy the condition to eligibility set forth in
Rule 144A(d)(4) for transfer of any such Certificate without registration thereof under the
Securities Act pursuant to the registration exemption provided by Rule 144A. The Owner of a
Certificate desiring to effect such a transfer shall, and does hereby agree to, indemnify the
Trust, the Owner Trustee, and the Depositor against any liability that may result if the transfer
is not so exempt or is not made in accordance with federal and state securities laws. The Owner
Trustee or the Certificate Registrar shall cause each Certificate to contain a legend in the form
set forth on the form of Certificate attached hereto as Exhibit A.

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     (c) Upon surrender for registration of transfer of any Certificate at the office or agency
maintained pursuant to Section 3.08 and subject to the satisfaction of the preceding paragraph, the
Owner Trustee shall execute, authenticate and deliver (or shall cause the Indenture Trustee as the
Trust’s authenticating agent to authenticate and deliver), in the name of the designated transferee
or transferees, one or more new Certificates of like tenor and in authorized denominations of a
like aggregate Percentage Interest dated the date of authentication by the Owner Trustee or any
authenticating agent; provided that prior to such execution, authentication and delivery, the Owner
Trustee and the Certificate Registrar shall have received an Opinion of Counsel to the effect that
the proposed transfer will not cause the Trust to be characterized as an association (or a publicly
traded partnership) taxable as a corporation or alter the tax characterization of the Senior Notes
for federal income tax purposes or Michigan income and single business tax purposes. At the option
of an Owner, Certificates may be exchanged for other Certificates of like tenor and of authorized
denominations of a like aggregate Percentage Interest upon surrender of the Certificates to be
exchanged at the office or agency maintained pursuant to Section 3.08.

     (d) Every Certificate presented or surrendered for registration of transfer or exchange shall
be accompanied by a written instrument of transfer in form satisfactory to the Owner Trustee and
the Certificate Registrar duly executed by the Owner or such Owner’s attorney duly authorized in
writing. Each Certificate surrendered for registration of transfer or exchange shall be cancelled
and subsequently disposed of by the Owner Trustee or the Certificate Registrar in accordance with
its customary practice.

     (e) No service charge shall be made for any registration of transfer or exchange of
Certificates, but the Owner Trustee or the Certificate Registrar may require payment of a sum
sufficient to cover any tax or governmental charge that may be imposed in connection with any
transfer or exchange of Certificates.

     (f) The preceding provisions of this Section notwithstanding, the Owner Trustee shall not
make, and the Certificate Registrar shall not register transfers or exchanges of, Certificates for
a period of 15 days preceding the due date for any payment with respect to the Certificates.

     (g) Notwithstanding anything herein to the contrary but subject to Section 3.04(h) below, no
Certificate shall be transferred without a simultaneous transfer of an identical Percentage
Interest of the Class D Notes to the same transferee. Any purported transfer of a Certificate
without such simultaneous transfer of Class D Notes shall, to the fullest extent permitted by law,
be null and void ab initio. The Notes Registrar and the Certificate Registrar shall maintain
records with respect to ownership and transfers of the Class D Notes identical in all respect to
the records maintained with respect to the Certificates.

     (h) The preceding Section 3.04(g) shall not apply if the Owner of a Certificate shall have (at
its sole expense) supplied the Owner Trustee and the Certificate Registrar with an opinion of
nationally recognized tax counsel to the effect that a transfer of a Certificate that is not in
accordance with the preceding Section 3.04(g) would not cause the Trust to be treated as a
corporation or an association taxable as a corporation for U.S. federal income tax purposes.

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     SECTION 3.05. Mutilated, Destroyed, Lost or Stolen Certificates. If (a) any mutilated
Certificate shall be surrendered to the Certificate Registrar, or if the Certificate Registrar
shall receive evidence to its satisfaction of the destruction, loss or theft of any Certificate and
(b) there shall be delivered to the Certificate Registrar and the Owner Trustee such security or
indemnity as may be required by them to save each of them harmless, then in the absence of notice
that such Certificate has been acquired by a protected purchaser, the Owner Trustee on behalf of
the Trust shall execute and the Owner Trustee or Indenture Trustee, as the Owner Trustee’s
authenticating agent, shall authenticate and deliver, in exchange for or in lieu of any such
mutilated, destroyed, lost or stolen Certificate, a new Certificate of like tenor and denomination.
In connection with the issuance of any new Certificate under this Section, the Owner Trustee or
the Certificate Registrar may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection therewith. Any duplicate Certificate issued
pursuant to this Section shall constitute conclusive evidence of ownership in the Trust, as if
originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any
time.

     SECTION 3.06. Persons Deemed Owners. Prior to due presentation of a Certificate for
registration of transfer, the Owner Trustee or the Certificate Registrar may treat the Person in
whose name any Certificate is registered in the Certificate Register as the owner of such
Certificate for the purpose of receiving distributions pursuant to Section 5.02 and for all other
purposes whatsoever, and none of the Owner Trustee or the Certificate Registrar shall be bound by
any notice to the contrary.

     SECTION 3.07. Access to List of Certificateholders’ Names and Addresses. The
Certificate Registrar shall furnish or cause to be furnished to the Servicer and the Depositor,
within 15 days after receipt by the Certificate Registrar of a written request therefor from the
Servicer or the Depositor, a list, in such form as the Servicer or the Depositor may reasonably
require, of the names and addresses of the Certificateholders as of the most recent Record Date.
If a Certificateholder applies in writing to the Certificate Registrar, and such application states
that the applicant desires to communicate with other Certificateholders with respect to their
rights under this Agreement or under the Certificates, then the Certificate Registrar shall, within
five Business Days after the receipt of such application, afford such applicant access during
normal business hours to the current list of Certificateholders. Each Owner, by receiving and
holding a Certificate, shall be deemed to have agreed not to hold any of the Depositor, the Company
or the Certificate Registrar accountable by reason of the disclosure of its name and address,
regardless of the source from which such information was derived.

     SECTION 3.08. Maintenance of Office or Agency. The Owner Trustee shall maintain in
the Borough of Manhattan, The City of New York, an office or offices or agency or agencies where
Certificates may be surrendered for registration of transfer or exchange and where notices and
demands to or upon the Owner Trustee in respect of the Certificates and the Basic Documents may be
served. The Trust initially designates the Certificate Registrar, as its office for such purposes.
The Trust shall give prompt written notice to the Company and to the Certificateholders of any
change in the location of the Certificate Register or any such office or agency.

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     SECTION 3.09. Definitive Certificates. The Certificates, upon original issuance, will
be issued in definitive, fully registered form.

ARTICLE IV

Actions by Owner Trustee

     SECTION 4.01. Prior Notice to Owners with Respect to Certain Matters. With respect to
the following matters, the Owner Trustee shall not take action unless at least 30 days before the
taking of such action, the Owner Trustee shall have notified the Owners in writing of the proposed
action and the Owners shall not have notified the Owner Trustee in writing prior to the 30th day
after such notice is given that such Owners have withheld consent or provided alternative
direction:

     (a) the initiation of any claim or lawsuit by the Trust (except claims or lawsuits brought in
connection with the collection of the Receivables) and the compromise of any action, claim or
lawsuit brought by or against the Trust (except with respect to the aforementioned claims or
lawsuits for collection of the Receivables);

     (b) the election by the Trust to file an amendment to the Certificate of Trust (unless such
amendment is required to be filed under the Statutory Trust Statute);

     (c) the amendment of the Indenture by a supplemental indenture in circumstances where the
consent of any Noteholder is required;

     (d) the amendment of the Indenture by a supplemental indenture in circumstances where the
consent of any Noteholder is not required and such amendment materially adversely affects the
interests of the Owners;

     (e) the amendment, change or modification of the Administration Agreement, except to cure any
ambiguity or to amend or supplement any provision in a manner or add any provision that would not
materially adversely affect the interests of the Owners; or

     (f) the appointment pursuant to the Indenture of a successor Note Registrar or Indenture
Trustee or pursuant to this Agreement of a successor Certificate Registrar, or the consent to the
assignment by the Note Registrar or Indenture Trustee or Certificate Registrar of its obligations
under the Indenture or this Agreement, as applicable.

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     SECTION 4.02. Action by Owners with Respect to Certain Matters. The Owner Trustee
shall not have the power, except upon the direction of the Owners, to (a) remove the Administrator
under the Administration Agreement pursuant to Section 8 thereof, (b) appoint a successor
Administrator pursuant to Section 8 of the Administration Agreement, (c) remove the Servicer under
the Sale and Servicing Agreement pursuant to Section 8.01 thereof or (d) except as expressly
provided in the Basic Documents, sell the Receivables after the termination of the Indenture. The
Owner Trustee shall take the actions referred to in the preceding sentence only upon written
instructions signed by the Owners.

     SECTION 4.03. Action by Owners with Respect to Bankruptcy. The Owner Trustee shall
not have the power to commence a voluntary proceeding in bankruptcy relating to the Trust without
the unanimous prior approval of all Owners and the delivery to the Owner Trustee by each such Owner
of a certificate certifying that such Owner reasonably believes that the Trust is insolvent.

     SECTION 4.04. Restrictions on Owners’ Power. The Owners shall not direct the Owner
Trustee to take or to refrain from taking any action if such action or inaction would be contrary
to any obligation of the Trust or the Owner Trustee under this Agreement or any of the Basic
Documents or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow
any such direction, if given.

     SECTION 4.05. Majority Control. Except as expressly provided herein, any action that
may be taken by the Owners of the Certificates may be taken by Owners of Certificates evidencing
not less than a majority of the Percentage Interests evidenced by the Certificates. Except as
expressly provided herein, any written notice of the Owners delivered pursuant to this Agreement
shall be effective if signed by the Owners of the Certificates evidencing not less than a majority
of the Percentage Interests evidenced by the Certificates at the time of the delivery of such
notice.

ARTICLE V

Application of Trust Funds; Certain Duties

     SECTION 5.01. Establishment of Deposit Account. The Deposit Account shall be
established and maintained pursuant to Section 5.01 of the Sale and Servicing Agreement. The
Deposit Account shall be under the sole dominion and control of the Indenture Trustee for the
benefit of Noteholders in accordance with the Sale and Servicing Agreement.

     SECTION 5.02. Application of Trust Funds. On each Payment Date, the Servicer is
obligated to instruct the Indenture Trustee to make distributions and allocations in accordance
with Section 5.05(a) of the Sale and Servicing Agreement.

     SECTION 5.03. Accounting and Reports to Owners, Internal Revenue Service and Others.
The Owner Trustee shall deliver to each Owner and Holder of the Class D Notes such information,
reports or statements as may be required by the Code and applicable Treasury Regulations and as may
be required to enable each Owner and Holder of the Class D Notes to prepare its federal and state
income tax returns. Consistent with the Trust’s characterization for tax purposes as a security
arrangement for the issuance of non-recourse debt, no federal income tax return shall be filed on
behalf of the Trust unless either (i) the Owner Trustee and the

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Company shall receive an Opinion of
Counsel that, based on a change in applicable law occurring after the date hereof, or as a result
of a transfer of the Certificates in accordance with by Section 3.04 of this Agreement and Sections
2.04 and 2.05 of the Indenture, the Code requires such a filing or (ii) the Internal Revenue
Service shall determine that the Trust is required to file such a return. In the event that the
Trust is required to file tax returns, the Owner Trustee shall prepare or shall cause to be
prepared any tax returns required to be filed by the Trust and shall remit such returns to the
Company (or if the Company no longer owns any Certificates, the Owner designated for such purpose
by the Company to the Owner Trustee in writing) at least five (5) days before such returns are due
to be filed. The Company (or such designee Owner, as applicable) shall promptly sign such returns
and deliver such returns after signature to the Owner Trustee and such returns shall be filed by
the Owner Trustee with the appropriate tax authorities. In no event shall the Owner Trustee or the
Company (or such designee Owner, as applicable) be liable for any liabilities, costs or expenses of
the Trust or the Noteholders arising out of the application of any tax law, including federal,
state, foreign or local income or excise taxes or any other tax imposed on or measured by income
(or any interest, penalty or addition with respect thereto or arising from a failure to comply
therewith) except for any such liability, cost or expense attributable to any act or omission by
the Owner Trustee or the Company (or such designee Owner, as applicable), as the case may be, in
breach of its obligations under this Agreement.

ARTICLE VI

Authority and Duties of Owner Trustee

     SECTION 6.01. General Authority. The Owner Trustee is authorized and directed to
execute and deliver the Basic Documents to which the Trust is to be a party and each certificate or
other document attached as an exhibit to or contemplated by the Basic Documents to which the Trust
is to be a party and any amendment or other agreement or instrument, in each case, in such form as
the Company shall approve, as evidenced conclusively by the Owner Trustee’s execution thereof. In
addition to the foregoing, the Owner Trustee is authorized, but shall not be obligated, to take all
actions required of the Trust pursuant to the Basic Documents. The Owner Trustee is further
authorized from time to time to take such action as the Administrator recommends with respect to
the Basic Documents.

     SECTION 6.02. General Duties. It shall be the duty of the Owner Trustee to discharge
(or cause to be discharged) all of its responsibilities pursuant to the terms of this Agreement and
the Basic Documents to which the Trust is a party and to administer the Trust in the interest of
the Owners, subject to the Basic Documents and in accordance with the provisions of this Agreement.
Notwithstanding the foregoing, the Owner Trustee shall be deemed to have discharged its duties and
responsibilities hereunder and under the Basic Documents to the extent the Administrator has agreed
in the Administration Agreement to perform any act or to discharge any duty of the Owner Trustee
hereunder or under any Basic Document, and the Owner Trustee shall not be held liable for the
default or failure of the Administrator to carry out its obligations under the Administration
Agreement.

     SECTION 6.03. Action upon Instruction. (a) Subject to Article IV and in accordance
with the terms of the Basic Documents, the Owners may by written instruction direct the Owner
Trustee in the management of the Trust. Such direction may be exercised at any time by written
instruction of the Owners pursuant to Article IV.

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     (b) The Owner Trustee shall not be required to take any action hereunder or under any Basic
Document if the Owner Trustee shall have reasonably determined, or shall have been advised by
counsel, that such action is likely to result in liability on the part of the Owner Trustee or is
contrary to the terms hereof or of any Basic Document or is otherwise contrary to law.

     (c) Whenever the Owner Trustee is unable to decide between alternative courses of action
permitted or required by the terms of this Agreement or under any Basic Document, the Owner Trustee
shall promptly give notice (in such form as shall be appropriate under the circumstances) to the
Owners requesting instruction as to the course of action to be adopted, and to the extent the Owner
Trustee acts in good faith in accordance with any written instruction of the Owners received, the
Owner Trustee shall not be liable on account of such action to any Person. If the Owner Trustee
shall not have received appropriate instruction within 10 days of
such notice (or within such shorter period of time as reasonably may be specified in such
notice or may be necessary under the circumstances) it may, but shall be under no duty to, take or
refrain from taking such action not inconsistent with this Agreement or the Basic Documents, as it
shall deem to be in the best interests of the Owners, and shall have no liability to any Person for
such action or inaction.

     (d) In the event that the Owner Trustee is unsure as to the application of any provision of
this Agreement or any Basic Document or any such provision is ambiguous as to its application, or
is, or appears to be, in conflict with any other applicable provision, or in the event that this
Agreement permits any determination by the Owner Trustee or is silent or is incomplete as to the
course of action that the Owner Trustee is required to take with respect to a particular set of
facts, the Owner Trustee may give notice (in such form as shall be appropriate under the
circumstances) to the Owners requesting instruction and, to the extent that the Owner Trustee acts
or refrains from acting in good faith in accordance with any such instruction received, the Owner
Trustee shall not be liable, on account of such action or inaction, to any Person. If the Owner
Trustee shall not have received appropriate instruction within 10 days of such notice (or within
such shorter period of time as reasonably may be specified in such notice or may be necessary under
the circumstances) it may, but shall be under no duty to, take or refrain from taking such action
not inconsistent with this Agreement or the Basic Documents, as it shall deem to be in the best
interests of the Owners, and shall have no liability to any Person for such action or inaction.

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     SECTION 6.04. No Duties Except as Specified in this Agreement or in Instructions. The
Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to,
register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise
take or refrain from taking any action under, or in connection with, any document contemplated
hereby to which the Owner Trustee is a party, except as expressly provided by the terms of this
Agreement or in any document or written instruction received by the Owner Trustee pursuant to
Section 6.03; and no implied duties or obligations shall be read into this Agreement or any Basic
Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any
financing or continuation statement in any public office at any time or to otherwise perfect or
maintain the perfection of any security interest or lien granted to it hereunder or to prepare or
file any Securities and Exchange Commission filing for the Trust or to record this Agreement or any
Basic Document. The Owner Trustee nevertheless agrees that it will, at its own cost and expense,
promptly take all action as may be necessary to discharge any liens on any part of the Owner Trust
Estate that result from actions by, or claims against, the Owner Trustee that are not related to
the ownership or the administration of the Owner Trust Estate.

     SECTION 6.05. No Action Except Under Specified Documents or Instructions. The Owner
Trustee shall not manage, control, use, sell, dispose of or otherwise deal with any part of the
Owner Trust Estate except (i) in accordance with the powers granted to and the authority conferred
upon the Owner Trustee pursuant to this Agreement, (ii) in accordance with the Basic Documents and
(iii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to
Section 6.03.

     SECTION 6.06. Restrictions. The Owner Trustee shall not take any action (a) that is inconsistent with the purposes of
the Trust set forth in Section 2.03 or (b) that, to the actual knowledge of the Owner Trustee,
would result in the Trust’s becoming taxable as a corporation for federal income tax purposes.
Prior to the payment in full of the Senior Notes, the Owners shall not direct the Owner Trustee to
take action that would violate the provisions of this Section.

ARTICLE VII

Concerning Owner Trustee

     SECTION 7.01. Acceptance of Trusts and Duties. The Owner Trustee accepts the trusts
hereby created and agrees to perform its duties hereunder with respect to such trusts, but only
upon the terms of this Agreement. The Owner Trustee shall not be answerable or accountable
hereunder or under any Basic Document under any circumstances, except (i) for its own willful
misconduct or negligence or (ii) in the case of the inaccuracy of any representation or warranty
contained in Section 7.03 expressly made by the Owner Trustee. In particular, but not by way of
limitation (and subject to the exceptions set forth in the preceding sentence):

     (a) The Owner Trustee shall not be liable for any error of judgment made in good faith by the
Owner Trustee;

     (b) The Owner Trustee shall not be liable with respect to any action taken or omitted to be
taken by it in accordance with the instructions of the Administrator or any Owner;

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     (c) No provision of this Agreement or any Basic Document shall require the Owner Trustee to
expend or risk funds or otherwise incur any financial liability in the performance of any of its
rights or powers hereunder or under any Basic Document if the Owner Trustee shall have reasonable
grounds for believing that repayment of such funds or adequate indemnity against such risk or
liability is not reasonably assured or provided to it;

     (d) Under no circumstances shall the Owner Trustee be liable for indebtedness evidenced by or
arising under any of the Basic Documents, including the principal of and interest or any other
amounts on the Notes;

     (e) The Owner Trustee shall not be responsible for or in respect of the validity or
sufficiency of this Agreement or for the due execution hereof by the Depositor or DCRR or for the
form, character, genuineness, sufficiency, value or validity of any of the Owner Trust Estate, or
for or in respect of the validity or sufficiency of the Basic Documents, other than the certificate
of authentication on the Certificates, and the Owner Trustee shall in no event assume or incur any
liability, duty or obligation to any Noteholder or to any Owner, other than as expressly provided
for herein or expressly agreed to in the Basic Documents;

     (f) The Owner Trustee shall not be liable for the default or misconduct of the Administrator,
the Certificate Registrar, DCFS, as Seller or Depositor, DCRR, the Indenture Trustee or the
Servicer under any of the Basic Documents or otherwise, and the Owner Trustee shall have no
obligation or liability to perform the obligations of the Trust under this Agreement or the Basic
Documents that are required to be performed by the Administrator under the
Administration Agreement, the Indenture Trustee under the Indenture or the Servicer or DCFS,
as Depositor or as Seller, under the Sale and Servicing Agreement; and

     (g) The Owner Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Agreement, or to institute, conduct or defend any litigation under this
Agreement or otherwise or in relation to this Agreement or any Basic Document, at the request,
order or direction of any of the Owners, unless such Owners have offered to the Owner Trustee
security or indemnity satisfactory to it against the costs, expenses and liabilities that may be
incurred by the Owner Trustee therein or thereby. The right of the Owner Trustee to perform any
discretionary act enumerated in this Agreement or in any Basic Document shall not be construed as a
duty, and the Owner Trustee shall not be answerable for other than its negligence or willful
misconduct in the performance of any such act.

     SECTION 7.02. Furnishing of Documents. The Owner Trustee shall furnish to the Owners,
promptly upon receipt of a written request therefor, duplicates or copies of all reports, notices,
requests, demands, certificates, financial statements and any other instruments furnished to the
Owner Trustee under the Basic Documents.

     SECTION 7.03. Representations and Warranties. The Owner Trustee hereby represents and
warrants to the Depositor and the Company, for the benefit of the Owners, that:

     (a) It is a Delaware banking corporation duly organized and validly existing in good standing
under the laws of the State of Delaware. It has all requisite corporate power and authority to
execute, deliver and perform its obligations under this Agreement.

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     (b) It has taken all corporate action necessary to authorize the execution and delivery by it
of this Agreement, and this Agreement will be executed and delivered by one of its officers who is
duly authorized to execute and deliver this Agreement on its behalf.

     (c) Neither the execution or the delivery by it of this Agreement, nor the consummation by it
of the transactions contemplated hereby, nor compliance by it with any of the terms or provisions
hereof will contravene any federal or Delaware law, governmental rule or regulation governing the
banking or trust powers of the Owner Trustee or any judgment or order binding on it, or constitute
any default under its charter documents or bylaws or any indenture, mortgage, contract, agreement
or instrument to which it is a party or by which any of its properties may be bound.

     SECTION 7.04. Reliance; Advice of Counsel. (a) The Owner Trustee shall incur no
liability to anyone in acting upon any signature, instrument, notice, resolution, request, consent,
order, certificate, report, opinion, bond, or other document or paper believed by it to be genuine
and believed by it to be signed by the proper party or parties. The Owner Trustee may accept a
certified copy of a resolution of the board of directors or other governing body of any corporate
party as conclusive evidence that such resolution has been duly adopted by such body and that the
same is in full force and effect. As to any fact or matter the method of determination of which is
not specifically prescribed herein, the
Owner Trustee may for all purposes hereof rely on a certificate, signed by the president or
any vice president or by the treasurer or other authorized officers of the relevant party, as to
such fact or matter, and such certificate shall constitute full protection to the Owner Trustee for
any action taken or omitted to be taken by it in good faith in reliance thereon.

     (b) In the exercise or administration of the trusts hereunder and in the performance of its
duties and obligations under this Agreement or the Basic Documents, the Owner Trustee (i) may act
directly or through its agents or attorneys pursuant to agreements entered into with any of them,
and the Owner Trustee shall not be liable for the conduct or misconduct of such agents or attorneys
if such agents or attorneys shall have been selected by the Owner Trustee with reasonable care, and
(ii) may consult with counsel, accountants and other skilled Persons to be selected with reasonable
care and employed by it. The Owner Trustee shall not be liable for anything done, suffered or
omitted in good faith by it in accordance with the written opinion or advice of any such counsel,
accountants or other such Persons and not contrary to this Agreement or any Basic Document.

     SECTION 7.05. Not Acting in Individual Capacity. Except as provided in this
Article VII, in accepting the trusts hereby created BNYM (Delaware) acts solely as Owner Trustee
hereunder and not in its individual capacity, and all Persons having any claim against the Owner
Trustee by reason of the transactions contemplated by this Agreement or any Basic Document shall
look only to the Owner Trust Estate for payment or satisfaction thereof.

     SECTION 7.06. Owner Trustee Not Liable for Certificates or Receivables. The recitals
contained herein and in the Certificates (other than the signature and countersignature of the
Owner Trustee on the Certificates) shall be taken as the statements of the Depositor and the
Company, and the Owner Trustee assumes no responsibility for the correctness thereof. The Owner
Trustee makes no representations as to the validity or sufficiency of this Agreement, of any Basic
Document or of the Certificates (other than the signature and countersignature of the Owner Trustee
on the Certificates) or the Notes, or of any Receivable or related documents. The

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Owner Trustee
shall at no time have any responsibility or liability for or with respect to the legality, validity
and enforceability of any Receivable, or the perfection and priority of any security interest
created by any Receivable in any Financed Vehicle or the maintenance of any such perfection and
priority, or for or with respect to the sufficiency of the Owner Trust Estate or its ability to
generate the payments to be distributed to the Noteholders under the Indenture, including, without
limitation: the existence, condition and ownership of any Financed Vehicle; the existence and
enforceability of any insurance thereon; the existence and contents of any Receivable on any
computer or other record thereof; the validity of the assignment of any Receivable to the Trust or
of any intervening assignment; the completeness of any Receivable; the performance or enforcement
of any Receivable; the compliance by the Depositor, the Company or the Servicer with any warranty
or representation made under any Basic Document or in any related document or the accuracy of any
such warranty or representation, or any action of the Administrator, the Indenture Trustee or the
Servicer or any subservicer taken in the name of the Owner Trustee.

     SECTION 7.07. Owner Trustee May Own Certificates and Notes. The Owner Trustee in its individual or any other capacity may become the owner or pledgee
of Certificates or Notes and may deal with the Depositor, the Company, the Administrator, the
Indenture Trustee and the Servicer in banking transactions with the same rights as it would have if
it were not Owner Trustee.

     SECTION 7.08. Sales Finance Licenses. The Owner Trustee shall use its best efforts to
maintain, and the Owner Trustee, as Owner Trustee, shall cause the Trust to use its best efforts to
maintain, the effectiveness of all licenses required under the Pennsylvania Motor Vehicle Sales
Finance Act and the Annotated Code of Maryland Financial Institutions § 11-403 in connection with
this Agreement and the Basic Documents and the transactions contemplated hereby and thereby until
such time as the Trust shall terminate in accordance with the terms hereof.

ARTICLE VIII

Compensation of Owner Trustee

     SECTION 8.01. Owner Trustee’s Fees and Expenses. The Owner Trustee shall receive as
compensation for its services hereunder such fees as have been separately agreed upon before the
date hereof between the Depositor and the Owner Trustee, and the Owner Trustee shall be entitled to
be reimbursed by the Depositor for its other reasonable expenses hereunder, including the
reasonable compensation, expenses and disbursements of such agents, representatives, experts and
counsel as the Owner Trustee may employ in connection with the exercise and performance of its
rights and its duties hereunder.

     SECTION 8.02. Indemnification. The Depositor shall be liable as primary obligor for,
and shall indemnify the Owner Trustee and its successors, assigns, agents and servants
(collectively, the “Indemnified Parties”) from and against, any and all liabilities, obligations,
losses, damages, taxes, claims, actions and suits, and any and all reasonable costs, expenses and
disbursements (including reasonable legal fees and expenses) of any kind and nature whatsoever
(collectively, “Expenses”) which may at any time be imposed on, incurred by, or asserted against
the Owner Trustee or any Indemnified Party in any way relating to or arising out of this Agreement,
the Basic Documents, the Owner Trust Estate, the administration of the Owner Trust

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Estate or the
action or inaction of the Owner Trustee hereunder, except only that the Depositor shall not be
liable for or required to indemnify an Indemnified Party from and against Expenses arising or
resulting from any of the matters described in the third sentence of Section 7.01. The indemnities
contained in this Section shall survive the resignation or termination of the Owner Trustee or the
termination of this Agreement. In any event of any claim, action or proceeding for which indemnity
will be sought pursuant to this Section, the Owner Trustee’s choice of legal counsel shall be
subject to the approval of the Depositor, which approval shall not be unreasonably withheld.

     SECTION 8.03. Payments to Owner Trustee. Any amounts paid to the Owner Trustee
pursuant to this Article VIII shall be deemed not to be a part of the Owner Trust Estate
immediately after such payment.

ARTICLE IX

Termination of Trust Agreement

     SECTION 9.01. Termination of Trust Agreement. (a) The Trust shall dissolve upon the
final distribution of all moneys or other property or proceeds of the Owner Trust Estate in
accordance with the terms of the Indenture and the Sale and Servicing Agreement. The bankruptcy,
liquidation, dissolution, death or incapacity of any Owner shall not (x) operate to dissolve or
terminate this Agreement or the Trust or (y) entitle such Owner’s legal representatives or heirs to
claim an accounting or to take any action or proceeding in any court for a partition or winding up
of all or any part of the Trust or Owner Trust Estate or (z) otherwise affect the rights,
obligations and liabilities of the parties hereto.

     (b) Except as provided in Section 9.01(a), neither the Depositor nor any Owner shall be
entitled to revoke, dissolve or terminate the Trust.

     (c) Notice of any dissolution of the Trust, specifying the date upon which Certificateholders
shall surrender their Certificates to the Owner Trustee for cancellation shall be given by the
Owner Trustee by letter to Certificateholders mailed within five Business Days of receipt of a
termination notice of such termination from the Servicer given pursuant to Section 8.03 of the Sale
and Servicing Agreement. The Owner Trustee shall give such notice to the Certificate Registrar (if
other than the Owner Trustee) at the time such notice is given to Certificateholders.

     In the event that all of the Certificateholders shall not surrender their Certificates for
cancellation within six months after the date specified in the above mentioned written notice, the
Owner Trustee shall give a second written notice to the remaining Certificateholders to surrender
their Certificates for cancellation. If within one year after the second notice all the
Certificates shall not have been surrendered for cancellation, the Owner Trustee may take
appropriate steps, or may appoint an agent to take appropriate steps, to contact the remaining
Certificateholders concerning surrender of their Certificates, and the cost thereof shall be paid
out of the funds and other assets that shall remain subject to this Agreement.

     (d) Upon the winding up of the Trust in accordance with Section 3808 of the Statutory Trust
Statute, the Owner Trustee, at the expense of the Depositor shall cause the Certificate of Trust to
be cancelled by filing a certificate of cancellation with the Secretary of

19

 

State in accordance with
the provisions of Section 3810 of the Statutory Trust Statute and the Trust and this Agreement
(other than Article VIII) shall terminate and be of no further force or effect.

ARTICLE X

Successor Owner Trustees and Additional Owner Trustees

     SECTION 10.01. Eligibility Requirements for Owner Trustee. The Owner Trustee shall at
all times be a corporation satisfying the provisions of Section 3807(a) of the Statutory Trust
Statute; authorized to exercise corporate trust powers; having a combined capital and surplus of at
least $50,000,000 and subject to supervision or
examination by federal or state authorities; and having (or having a parent that has) time
deposits that are rated at least “F1” by Fitch, “A-1” by Standard & Poor’s and “P-1” by Moody’s or
otherwise be acceptable to the Rating Agencies. If such corporation shall publish reports of
condition at least annually pursuant to law or to the requirements of the aforesaid supervising or
examining authority, then for the purpose of this Section, the combined capital and surplus of such
corporation shall be deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published. In case at any time the Owner Trustee shall cease to be eligible
in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in
the manner and with the effect specified in Section 10.02.

     SECTION 10.02. Resignation or Removal of Owner Trustee. The Owner Trustee may at any
time resign and be discharged from the trusts hereby created by giving written notice thereof to
the Administrator. Upon receiving such notice of resignation, the Administrator shall promptly
appoint a successor Owner Trustee by written instrument, in duplicate, one copy of which instrument
shall be delivered to the resigning Owner Trustee and one copy to the successor Owner Trustee. If
no successor Owner Trustee shall have been so appointed and have accepted appointment within
30 days after the giving of such notice of resignation, the resigning Owner Trustee may petition
any court of competent jurisdiction for the appointment of a successor Owner Trustee.

     If at any time the Owner Trustee shall cease to be eligible in accordance with the provisions
of Section 10.01 and shall fail to resign after written request therefor by the Administrator, or
if at any time the Owner Trustee shall be legally unable to act, or shall be adjudged bankrupt or
insolvent, or a receiver of the Owner Trustee or of its property shall be appointed, or any public
officer shall take charge or control of the Owner Trustee or of its property or affairs for the
purpose of rehabilitation, conservation or liquidation, then the Administrator may remove the Owner
Trustee. If the Administrator shall remove the Owner Trustee under the authority of the
immediately preceding sentence, the Administrator shall promptly appoint a successor Owner Trustee
by written instrument, in duplicate, one copy of which instrument shall be delivered to the
outgoing Owner Trustee so removed and one copy to the successor Owner Trustee, and shall pay all
fees owed to the outgoing Owner Trustee.

     Any resignation or removal of the Owner Trustee and appointment of a successor Owner Trustee
pursuant to any of the provisions of this Section shall not become effective until acceptance of
appointment by the successor Owner Trustee pursuant to Section 10.03 and payment of all fees and
expenses owed to the outgoing Owner Trustee. The Administrator shall

20

 

provide notice of such
resignation or removal of the Owner Trustee to each of the Rating Agencies.

     SECTION 10.03. Successor Owner Trustee. Any successor Owner Trustee appointed
pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its
predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and
thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and
such successor Owner Trustee, without any further act, deed or conveyance, shall become fully
vested with all the rights, powers, duties and obligations of its predecessor under this Agreement,
with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon
payment of its
fees and expenses deliver to the successor Owner Trustee all documents and statements and
monies held by it under this Agreement; and the Administrator and the predecessor Owner Trustee
shall execute and deliver such instruments and do such other things as may reasonably be required
for fully and certainly vesting and confirming in the successor Owner Trustee all such rights,
powers, duties and obligations.

     No successor Owner Trustee shall accept appointment as provided in this Section unless at the
time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01.

     Upon acceptance of appointment by a successor Owner Trustee pursuant to this Section, the
Administrator shall mail notice thereof to all Certificateholders, the Indenture Trustee, the
Noteholders and the Rating Agencies. If the Administrator shall fail to mail such notice within
10 days after acceptance of such appointment by the successor Owner Trustee, the successor Owner
Trustee shall cause such notice to be mailed at the expense of the Administrator.

     SECTION 10.04. Merger or Consolidation of Owner Trustee. Any Person into which the
Owner Trustee may be merged or converted or with which it may be consolidated, or any Person
resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party,
or any Person succeeding to all or substantially all of the corporate trust business of the Owner
Trustee, shall be the successor of the Owner Trustee hereunder, without the execution or filing of
any instrument or any further act on the part of any of the parties hereto, anything herein to the
contrary notwithstanding; provided, that such Person shall be eligible pursuant to Section 10.01
and, provided, further, that the Owner Trustee shall mail notice of such merger or consolidation to
the Rating Agencies; provided, however, that in no event shall any such Person become the successor
Owner Trustee hereunder until the Trust shall have received all such licenses, consents or
approvals (or amendments or endorsements thereto) relating to the change in Owner Trustee that are
required under the Pennsylvania Motor Vehicle Sales Finance Act and the Annotated Code of Maryland
Financial Institutions § 11-403 in connection with the operation of the Trust.

     SECTION 10.05. Appointment of Co-Trustee or Separate Trustee. Notwithstanding any
other provisions of this Agreement, at any time, for the purpose of meeting any legal requirements
of any jurisdiction in which any part of the Owner Trust Estate or any Financed Vehicle may at the
time be located, the Administrator and the Owner Trustee acting jointly shall have the power and
shall execute and deliver all instruments to appoint one or more Persons approved by the
Administrator and Owner Trustee to act as co-trustee, jointly with the Owner Trustee, or as
separate trustee or separate trustees, of all or any part of the Owner Trust Estate, and to vest in
such Person, in such capacity, such title to the Trust or any part thereof and,

21

 

subject to the
other provisions of this Section, such powers, duties, obligations, rights and trusts as the
Administrator and the Owner Trustee may consider necessary or desirable. If the Administrator
shall not have joined in such appointment within 15 days after the receipt by it of a request so to
do, the Owner Trustee alone shall have the power to make such appointment. No co-trustee or
separate trustee under this Agreement shall be required to meet the terms of eligibility as a
successor Owner Trustee pursuant to Section 10.01 and no notice of the appointment of any
co-trustee or separate trustee shall be required pursuant to Section 10.03.

     Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and
act subject to the following provisions and conditions:

     (a) All rights, powers, duties and obligations conferred or imposed upon the Owner Trustee
shall be conferred upon and exercised or performed by the Owner Trustee and such separate trustee
or co-trustee jointly (it being understood that such separate trustee or co-trustee is not
authorized to act separately without the Owner Trustee joining in such act), except to the extent
that under any law of any jurisdiction in which any particular act or acts are to be performed, the
Owner Trustee shall be incompetent or unqualified to perform such act or acts, in which event such
rights, powers, duties and obligations (including the holding of title to the Owner Trust Estate or
any portion thereof in any such jurisdiction) shall be exercised and performed singly by such
separate trustee or co-trustee, but solely at the direction of the Owner Trustee;

     (b) No trustee under this Agreement shall be personally liable by reason of any act or
omission of any other trustee under this Agreement; and

     (c) The Administrator and the Owner Trustee acting jointly may at any time accept the
resignation of or remove any separate trustee or co-trustee.

     Any notice, request or other writing given to the Owner Trustee shall be deemed to have been
given to each of the then separate trustees and co-trustees, as effectively as if given to each of
them. Every instrument appointing any separate trustee or co-trustee shall refer to this Agreement
and the conditions of this Article. Each separate trustee and co-trustee, upon its acceptance of
the trusts conferred, shall be vested with the estates or property specified in its instrument of
appointment, either jointly with the Owner Trustee or separately, as may be provided therein,
subject to all the provisions of this Agreement, specifically including every provision of this
Agreement relating to the conduct of, affecting the liability of, or affording protection to, the
Owner Trustee. Each such instrument shall be filed with the Owner Trustee and a copy thereof given
to the Administrator.

     Any separate trustee or co-trustee may at any time appoint the Owner Trustee as its agent or
attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any
lawful act under or in respect of this Agreement on its behalf and in its name. If any separate
trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its
estates, properties, rights, remedies and trusts shall vest in and be exercised by the Owner
Trustee, to the extent permitted by law, without the appointment of a new or successor co-trustee
or separate trustee.

22

 

ARTICLE XI

Miscellaneous

     SECTION 11.01. Supplements and Amendments. This Agreement may be amended by the
Depositor, the Company and the Owner Trustee, with prior written notice to the Rating Agencies,
without the consent of any of the Noteholders or the Certificateholders, to cure any ambiguity, to
correct or supplement any provisions in this Agreement or for the purpose of adding any provisions
to or changing in any
manner or eliminating any of the provisions in this Agreement or of modifying in any manner
the rights of the Noteholders or the Certificateholders; provided, however, that such action shall
not, as evidenced by an Opinion of Counsel, adversely affect in any material respect the interests
of any Noteholder or Certificateholder.

     This Agreement may also be amended from time to time by the Depositor, the Company and the
Owner Trustee, with prior written notice to the Rating Agencies, with the consent of the Holders
(as defined in the Indenture) of Notes evidencing not less than a majority of the Outstanding
Amount of the Notes, the consent of the Owners of Certificates evidencing not less than a majority
of the Percentage Interests evidenced by the Certificates, for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying
in any manner the rights of the Noteholders or the Certificateholders; provided, however, that no
such amendment shall (a) increase or reduce in any manner the amount of, or accelerate or delay the
timing of, collections of payments on the Receivables or distributions that shall be required to be
made for the benefit of the Noteholders or (b) reduce the aforesaid percentage of the Outstanding
Amount of the Notes or of the Percentage Interests evidenced by the Certificates required to
consent to any such amendment, without the consent of the Holders of all the outstanding Notes and
the Owners of the Certificates.

     Promptly after the execution of any such amendment or consent, the Owner Trustee shall furnish
written notification of the substance of such amendment or consent to each Certificateholder, the
Indenture Trustee and each of the Rating Agencies.

     It shall not be necessary for the consent of Certificateholders or Noteholders pursuant to
this Section to approve the particular form of any proposed amendment or consent, but it shall be
sufficient if such consent shall approve the substance thereof. The manner of obtaining such
consents (and any other consents of Certificateholders provided for in this Agreement or in any
other Basic Document) and of evidencing the authorization of the execution thereof by
Certificateholders shall be subject to such reasonable requirements as the Owner Trustee may
prescribe.

     Promptly after the execution of any amendment to the Certificate of Trust, the Owner Trustee
shall cause the filing of such amendment with the Secretary of State.

     Prior to the execution of any amendment to this Agreement or the Certificate of Trust, the
Owner Trustee shall be entitled to receive and rely upon an Opinion of Counsel stating that the
execution of such amendment is authorized or permitted by this Agreement. The Owner Trustee may,
but shall not be obligated to, enter into any such amendment that affects the Owner Trustee’s own
rights, duties or immunities under this Agreement or otherwise.

23

 

     In connection with the execution of any amendment to this Agreement or any amendment of any
other agreement to which the Trust is a party, the Owner Trustee shall be entitled to receive and
conclusively rely upon an Opinion of Counsel to the effect that such amendment is authorized or
permitted by the Basic Documents and that all conditions precedent in the Basic Documents for the
execution and delivery thereof by the Trust or the Owner Trustee, as the case may be, have been
satisfied.

     Prior to the payment in full of the Senior Notes, this Agreement may be amended upon the
request of any Certificateholder to permit the transfer of the Certificates other than in
accordance with Section 3.04(g), which amendment may include the addition or deletion of any
provisions appropriate thereto; provided that the requesting Certificateholder shall have (at its
sole expense) supplied the Owner Trustee and the Indenture Trustee with an opinion of nationally
recognized counsel to the effect that the execution of such amendment will not result in the
recognition by any Holder of a Senior Note of a “taxable event” within the meaning of Section 1001
of the Code or adversely affect any rights or remedies of any Holder of a Senior Note.

     SECTION 11.02. No Legal Title to Owner Trust Estate in Owners. The Owners shall not
have legal title to any part of the Owner Trust Estate. The Owners shall be entitled to receive
distributions with respect to their undivided ownership interest therein only in accordance with
Articles V and IX. No transfer, by operation of law or otherwise, of any right, title or interest
of the Owners to and in their ownership interest in the Trust shall operate to terminate this
Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to
it of legal title to any part of the Owner Trust Estate.

     SECTION 11.03. Limitations on Rights of Others. The provisions of this Agreement are
solely for the benefit of the Owner Trustee, the Depositor, the Owners, the Administrator and, to
the extent expressly provided herein, the Indenture Trustee, the Certificate Registrar and the
Noteholders, and nothing in this Agreement, whether express or implied, shall be construed to give
to any other Person any legal or equitable right, remedy or claim in the Owner Trust Estate or
under or in respect of this Agreement or any covenants, conditions or provisions contained herein.

     SECTION 11.04. Notices. (a) Unless otherwise expressly specified or permitted by the
terms hereof, all notices shall be in writing and shall be deemed given upon receipt by the
intended recipient or three Business Days after mailing if mailed by certified mail, postage
prepaid (except that notice to the Owner Trustee shall be deemed given only upon actual receipt by
the Owner Trustee), if to the Owner Trustee, addressed to the Corporate Trust Office; if to the
Depositor, addressed to DaimlerChrysler Financial Services Americas LLC, 27777 Inkster Road,
Farmington Hills, Michigan 48334, Attention of Assistant Secretary; if to DCRR, addressed to
DaimlerChrysler Retail Receivables LLC, 27777 Inkster Road, Farmington Hills, Michigan 48334,
Attention of Assistant Secretary; or, as to each party, at such other address as shall be
designated by such party in a written notice to each other party.

     (b) Any notice required or permitted to be given to a Certificateholder shall be given by
first-class mail, postage prepaid, at the address of such Owner as shown in the Certificate
Register. Any notice so mailed within the time prescribed in this Agreement shall be conclusively
presumed to have been duly given, whether or not the Certificateholder receives such notice.

24

 

     SECTION 11.05. 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 11.06. Separate Counterparts. This Agreement may be executed by the parties
hereto in separate counterparts, each of which when so executed and delivered shall be an original,
but all such counterparts shall together constitute but one and the same instrument.

     SECTION 11.07. Successors and Assigns. All covenants and agreements contained herein
shall be binding upon, and inure to the benefit of, the Depositor and its permitted assignees, the
Owner Trustee and its successors and each Owner and its successors and permitted assigns, all as
herein provided. Any request, notice, direction, consent, waiver or other instrument or action by
an Owner shall bind the successors and assigns of such Owner.

     SECTION 11.08. No Petition. The Owner Trustee, by entering into this Agreement, each
Certificateholder, by accepting a Certificate, and the Indenture Trustee and each Noteholder, by
accepting the benefits of this Agreement, hereby covenant and agree that they will not at any time
institute against the Company or the Trust, or join in any institution against the Company or the
Trust of, any bankruptcy proceedings under any United States federal or state bankruptcy or similar
law in connection with any obligations relating to the Certificates, the Notes, this Agreement or
any of the Basic Documents.

     SECTION 11.09. No Recourse. Each Certificateholder by accepting a Certificate
acknowledges that such Certificateholder’s Certificates represent beneficial interests in the Trust
only and do not represent interests in or obligations of the Depositor, the Servicer, the Company,
DCRR, the Administrator, the Owner Trustee, the Indenture Trustee or any Affiliate thereof and no
recourse may be had against such parties or their assets, except as may be expressly set forth or
contemplated in this Agreement, the Certificates or the Basic Documents.

     SECTION 11.10. 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 11.11. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH
SUCH LAWS.

     SECTION 11.12. Certificate Transfer Restrictions. The Certificate may not be acquired by or for the account of (i) an employee benefit plan
(as defined in Section 3(3) of ERISA) that is subject to the provisions of Title I of ERISA, (ii) a
plan described in Section 4975(e)(1) of the Code or (iii) any entity whose underlying assets
include plan assets by reason of a plan’s investment in the entity (each, a “Benefit Plan”). By
accepting and holding a Certificate, the Owner thereof shall be deemed to have represented and
warranted that it is not a Benefit Plan.

25

 

     SECTION 11.13. Depositor Payment Obligation. The Depositor shall be responsible for
payment of the Administrator’s fees under the Administration Agreement and shall reimburse the
Administrator for all expenses and liabilities of the Administrator incurred thereunder. In
addition, the Depositor shall be responsible for the payment of all fees and expenses of the Trust,
the Owner Trustee and the Indenture Trustee paid by any of them in connection with any of their
obligations under the Basic Documents to obtain or maintain, on behalf of the Trust, any required
licenses under the Pennsylvania Motor Vehicle Sales Finance Act and the Annotated Code of Maryland
Financial Institutions § 11-403.

26

 

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

	 	 	 	 	 
	 	DAIMLERCHRYSLER FINANCIAL SERVICES AMERICAS LLC,

     as Depositor

 	 
	 	By:  	/s/
David Nelson	 
	 	 	Name:  	David Nelson 	 
	 	 	Title:  	Vice President and Treasurer 	 
	 
	 	BNYM (DELAWARE),

     as Owner Trustee

 	 
	 	By:  	/s/
Kristine K. Gullo	 
	 	 	Name:  	Kristine K. Gullo	 
	 	 	Title:  	Vice President	 
	 

DCAT 2008-A – Second Amended and Restated Trust Agreement

27

 

Acknowledged and Accepted:

DAIMLERCHRYSLER RETAIL RECEIVABLES LLC,

for the limited purpose of transferring ownership of the Trust

 

By: Chrysler SPV LLC, a Member of DaimlerChrysler

Retail Receivables LLC

By: DaimlerChrysler Financial Services Americas LLC,

sole Member of Chrysler SPV LLC

	 	 	 	 	 
	By:
	 	/s/
David
Nelson
	 	 
	Name:

	 	David
Nelson	 	 
	Title:
	 	Vice President and Treasurer	 	 

By: Chrysler Auto Receivables Company,

a Member of DaimlerChrysler

Retail Receivables LLC

	 	 	 	 	 
	By:
	 	/s/
David Nelson
	 	 
	Name:

	 	David Nelson	 	 
	Title:
	 	Vice President and Treasurer	 	 

By: Premier Auto Receivables LLC,

a Member of DaimlerChrysler Retail Receivables LLC

By: DaimlerChrysler Financial Services Americas LLC,

sole Member of Premier Auto Receivables LLC

	 	 	 	 	 
	By:
	 	/s/
David Nelson
	 	 
	Name:

	 	David Nelson	 	 
	Title:
	 	Vice President and Treasurer	 	 

DCAT 2008-A – Second Amended and Restated Trust Agreement

28

 

Acknowledged and accepted

	 	 	 	 	 
	 	Deutsche Bank Trust Company Americas,

as Authenticating Agent and Certificate Registrar

 	 
	 	By:  	/s/
Jenna Kaufman	 
	 	 	Name:  	Jenna Kaufman	 
	 	 	Title:  	Director	 
	 
	 	 	 
	 	By:  	/s/
Louis Bodi	 
	 	 	Name:  	Louis Bodi	 
	 	 	Title:  	Vice President	 
	 

DCAT 2008-A – Second Amended and Restated Trust Agreement

29

 

EXHIBIT A

Form of Certificate

THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE
TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM. IN ADDITION, THE
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN RESTRICTIONS AND CONDITIONS SET FORTH IN SECTION
3.04 OF THE TRUST AGREEMENT UNDER WHICH THIS CERTIFICATE IS ISSUED (A COPY OF WHICH TRUST AGREEMENT
IS AVAILABLE FROM THE OWNER TRUSTEE OR UPON REQUEST), INCLUDING RECEIPT BY THE OWNER TRUSTEE OF AN
INVESTMENT LETTER IN WHICH THE TRANSFEREE MAKES CERTAIN REPRESENTATIONS.

 

			
	No. R-1
	 	Percentage Interest:                    %

DAIMLERCHRYSLER AUTO TRUST 2008-A

CERTIFICATE

evidencing a fractional undivided interest in the Trust, as defined below, the property of which
includes a pool of retail installment sale contracts (as defined herein) secured by new and used
automobiles and light duty trucks.

(This Certificate does not represent an interest in or obligation of DaimlerChrysler Financial
Services Americas LLC or any of its affiliates, except to the extent described below.)

     THIS CERTIFIES THAT                                                              is the
registered owner of a
                                                             PERCENT nonassessable, fully-paid, undivided percentage interest in
DaimlerChrysler Auto Trust 2008-A (the “Trust”), formed by DaimlerChrysler Financial Services
Americas LLC, a Michigan limited liability company (the “Depositor”), and DaimlerChrysler Retail
Receivables LLC, a Michigan limited liability company (the “DCRR”).

A-1

 

     The Trust was created pursuant to a Trust Agreement dated as of November 1, 2006, as amended
and restated by the Second Amended and Restated Trust Agreement dated as of February 1, 2008 (as so
amended and restated and further amended or supplemented from time to time, the “Trust Agreement”),
among the Depositor, DCRR and BNYM (Delaware), as owner trustee (the “Owner Trustee”), a summary of
certain of the pertinent provisions of which is set forth below. To the extent not otherwise
defined herein, the capitalized terms used herein have the meanings assigned to them in the Trust
Agreement or the Sale and Servicing Agreement dated as of February 1, 2008 (as amended and
supplemented from time to time, the “Sale and Servicing Agreement”), between the Trust and the
Depositor, as seller and as servicer (in such capacity, the “Servicer”), as applicable.

     This Certificate is one of the duly authorized class of certificates (herein called the
“Certificates”). Also issued under an Indenture dated as of February 1, 2008 (the “Indenture”),
between the Trust and Deutsche Bank Trust Company Americas, as indenture trustee, are the nine
classes of Notes designated as “Class A-1 3.15195% Asset Backed Notes,” “Class A-2a 3.40% Asset
Backed Notes,” “Class A-2b Floating Rate Asset Backed Notes,” “Class A-3a 3.70% Asset Backed
Notes,” “Class A-3b Floating Rate Asset Backed Notes,” “Class A-4 4.48% Asset Backed Notes,” “Class
B 5.57% Asset Backed Notes,” “Class C 5.75% Asset Backed Notes” and “Class D Asset Backed Notes”
(collectively, the “Notes”). This Certificate is issued under and is subject to the terms,
provisions and conditions of the Trust Agreement, to which Trust Agreement the Owner of this
Certificate by virtue of its acceptance hereof assents and by which such Owner is bound. The
property of the Trust consists of a pool of retail installment sale contracts for new and used
automobiles and light duty trucks (collectively, the “Receivables”), all monies received after
January 31, 2008, security interests in the vehicles financed thereby, certain bank accounts and
the proceeds thereof, proceeds from claims on certain insurance policies and certain other rights
under the Trust Agreement, the Hedges and the Sale and Servicing Agreement and all proceeds of the
foregoing.

     It is the intent of the Depositor, Chrysler Residual Holdco LLC (the “Company”), DCRR, the
Servicer and the Certificateholder that, for purposes of federal income, state and local income and
single business tax and any other income taxes, the Trust will be treated as a security arrangement
for the issuance of debt by the Company. The Company, by acceptance of the Certificates, agrees to
treat, and to take no action inconsistent with the above treatment for so long as the Company is
the sole Owner.

     Solely in the event the Certificates are held by more than a single Owner, it is the intent of
the Depositor, the Company, DCRR, the Servicer and the Certificateholders that, for purposes of
federal income, state and local income and single business tax and any other income taxes, the
Trust will be treated as a partnership and the Certificateholders (including the Company) will be
treated as partners in the partnership. The Company and the other Certificateholders, by
acceptance of a Certificate, agree to treat, and to take no action inconsistent with the treatment
of, the Certificates for such tax purposes as partnership interests in the Trust.

     Each Certificateholder, by its acceptance of a Certificate covenants and agrees that such
Certificateholder will not at any time institute against the Company, or join in any institution
against the Company of, any bankruptcy, reorganization, arrangement, insolvency or liquidation

A-2

 

proceedings, or other proceedings under any United States federal or state bankruptcy or
similar law in connection with any obligations relating to the Certificates, the Notes, the Trust
Agreement or any of the Basic Documents.

     Reference is hereby made to the further provisions of this Certificate set forth on the
reverse hereof, which further provisions shall for all purposes have the same effect as if set
forth at this place.

     Unless the certificate of authentication hereon shall have been executed by an authorized
officer of the Owner Trustee, by manual signature, this Certificate shall not entitle the Owner
hereof to any benefit under the Trust Agreement or the Sale and Servicing Agreement or be valid for
any purpose.

     THIS CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE,
WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF
THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

A-3

 

     IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Trust and not in its individual
capacity, has caused this Certificate to be duly executed.

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	DAIMLERCHRYSLER AUTO TRUST 2008-A	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	by:
	 	BNYM (DELAWARE), not in its individual capacity	 	 
	 

	 	 	 	 	 	 	 	but solely as Owner Trustee	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Dated:

	 	 	 	 	 	by:	 	 	 	 
	 

	 	 

	 	 	 	 	 	 

Authorized Signatory
	 	 

OWNER TRUSTEE’S CERTIFICATE OF AUTHENTICATION

This is the one of the Certificates referred to in the within-mentioned Trust Agreement.

	 	 	 	 	 	 	 	 	 	 	 
	BNYM (DELAWARE), as Owner Trustee	 	Or	 	by:	 	DEUTSCHE BANK TRUST COMPANY AMERICAS,	 	 
	 

	 	 	 	 	 	 	 	as Authenticating Agent	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	by:
	 	 	 	 	 	 	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 
	 	by:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

Authorized Signatory
	 	 

A-4

 

[REVERSE OF CERTIFICATE]

     The Certificates do not represent an obligation of, or an interest in, the Depositor, the
Servicer, the Company, DCRR, the Owner Trustee or any affiliates of any of them and no recourse may
be had against such parties or their assets, except as expressly set forth or contemplated herein
or in the Trust Agreement or the Basic Documents. A copy of each of the Sale and Servicing
Agreement and the Trust Agreement may be examined by any Certificateholder upon written request
during normal business hours at the principal office of the Depositor and at such other places, if
any, designated by the Depositor.

     The Trust Agreement permits, with certain exceptions therein provided, the amendment thereof
and the modification of the rights and obligations of the Depositor and the Company and the rights
of the Certificateholders under the Trust Agreement at any time by the Depositor, the Company and
the Owner Trustee with the consent of the holders of the Certificates and the Notes evidencing not
less than a majority of the Percentage Interests evidenced by the outstanding Certificates or a
majority of the Outstanding Amount of the Notes. Any such consent by the Owner of this Certificate
shall be conclusive and binding on such Owner and on all future Owners of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof, whether
or not notation of such consent is made upon this Certificate. The Trust Agreement also permits
the amendment thereof, in certain limited circumstances, without the consent of the Owners of any
of the Certificates.

     As provided in the Trust Agreement and subject to certain limitations therein set forth, the
transfer of this Certificate is registerable in the Certificate Register upon surrender of this
Certificate for registration of transfer at the offices or agencies of the Certificate Registrar
maintained by the Trust in the Borough of Manhattan, The City of New York, accompanied by a written
instrument of transfer in form satisfactory to the Owner Trustee and the Certificate Registrar duly
executed by the Owner hereof or such Owner’s attorney duly authorized in writing, and thereupon one
or more new Certificates of authorized denominations evidencing the same aggregate interest in the
Trust will be issued to the designated transferee. The initial Certificate Registrar appointed
under the Trust Agreement is Deutsche Bank Trust Company Americas

     Except as provided in the Trust Agreement, the Certificates are issuable only as registered
Certificates. As provided in the Trust Agreement and subject to certain limitations therein set
forth, Certificates are exchangeable for new Certificates of authorized denominations evidencing
the same aggregate denomination, as requested by the Owner surrendering the same. No service
charge will be made for any such registration of transfer or exchange, but the Owner Trustee or the
Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental
charge payable in connection therewith.

     The Owner Trustee, the Certificate Registrar and any agent of the Owner Trustee or the
Certificate Registrar may treat the Person in whose name this Certificate is registered as the
owner hereof for all purposes, and none of the Owner Trustee, the Certificate Registrar or any such
agent shall be affected by any notice to the contrary.

A-5

 

     The obligations and responsibilities created by the Trust Agreement and the Trust created
thereby shall terminate upon the disposition of all property held as part of the Owner Trust
Estate. The Servicer of the Receivables may at its option purchase the Owner Trust Estate at a
price specified in the Sale and Servicing Agreement, and such purchase of the Receivables and other
property of the Trust will effect early retirement of the Certificates; provided, however, such
right of purchase is exercisable only as of the last day of any Collection Period as of which the
Pool Balance is less than or equal to 10% of the Original Pool Balance.

     The Certificates may not be acquired by (a) an employee benefit plan (as defined in
Section 3(3) of ERISA) that is subject to the provisions of Title I of ERISA, (b) a plan described
in Section 4975(e)(1) of the Code or (c) any entity whose underlying assets include plan assets by
reason of a plan’s investment in the entity or which uses plan assets to acquire the Certificates
(each, a “Benefit Plan”). By accepting and holding this Certificate, the Owner hereof shall be
deemed to have represented and warranted that it is not a Benefit Plan.

A-6

 

ASSIGNMENT

     FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto

PLEASE INSERT SOCIAL SECURITY OR

OTHER IDENTIFYING NUMBER OF ASSIGNEE

 

(Please print or type name and address, including postal zip code, of assignee)

the within Certificate, and all rights thereunder, and hereby irrevocably constitutes and
appoints                                         , attorney, to transfer said Certificate on
the books of the Certificate Registrar, with full power of substitution in the premises.

	 	 	 	 	 
	Dated:
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	 

	 	 

A-7

 

EXHIBIT B-1

CERTIFICATE OF TRUST

OF

DAIMLERCHRYSLER AUTO TRUST 2007-B

          THIS Certificate of Trust of DaimlerChrysler Auto Trust 2007-B (the “Trust”) is being duly
executed and filed by The Bank of New York (Delaware), as Owner trustee, to form a statutory trust
to form a statutory trust under the Delaware Statutory Trust Act (12 § Del. C. Section 3801
et seq.) (the “Act”).

          1. Name. The name of the statutory trust formed hereby is DaimlerChrysler Auto Trust
2007-B.

          2. Delaware Trustee. The name and business address of the trustee of the Trust in the
State of Delaware is The Bank of New York (Delaware), 100 White Clay enter, Route 273, P.O. Box
6995, Newark, Delaware 19711.

          3. Effective Date. This Certificate of Trust shall be effective upon its filing with
the Secretary of State of the State of Delaware.

          IN WITNESS WHEREOF, the undersigned has executed this Certificate of Trust in accordance with
Section 3811(a) of the Act.

	 	 	 	 	 
	 	THE BANK OF NEW YORK (DELAWARE),

not in its individual capacity but solely as trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

B-1

 

EXHIBIT B-2

CERTIFICATE OF AMENDMENT

OF

DAIMLERCHRYSLER AUTO TRUST 2007-B

          THIS Certificate of Amendment of DaimlerChrysler Auto Trust 2007-B (the “Trust”) is being duly
executed and filed on behalf of the Trust by BNYM (Delaware) (formerly known as the Bank of New
York (Delaware)), as Owner Trustee, to amend a statutory trust under the Delaware Statutory Trust
Act (12 § Del.C., Section 3801 et seq.) (the “Act”).

          1. Name: The Certificate of Trust is hereby amended by changing name of the statutory
trust to DaimlerChrysler Auto Trust 2008-A.

          2. Effective Date: This Certificate of Amendment shall be effective upon its filing
with the Secretary of State of the State of Delaware.

          IN WITNESS WHEREOF, the undersigned has executed this Certificate of Amendment in accordance
with Section 3811(a) of the Act.

	 	 	 	 	 
	 	BNYM (DELAWARE) (formerly known as The Bank of New York (Delaware)),

not in its individual capacity but solely as Owner trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

B-2

 

EXHIBIT C

FORM OF TRANSFEROR CERTIFICATE

               [DATE]

[Seller]

[Seller Address]

[Owner Trustee]

[Owner Trustee Address]

          Re:     DaimlerChrysler Auto Trust 2008-A Certificates

Ladies and Gentlemen:

          In connection with our disposition of the above-referenced Certificates (the
“Certificates”) we certify that (a) we understand that the Certificates have not been
registered under the Securities Act of 1933, as amended (the “Act”), and are being transferred
by us in a transaction that is exempt from the registration requirements of the Act and (b) we
have not offered or sold any Certificates to, or solicited offers to buy any Certificates
from, any person, or otherwise approached or negotiated with any person with respect thereto,
in a manner that would be deemed, or taken any other action which would result in, a violation
of Section 5 of the Act.

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	[NAME OF TRANSFEROR]	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Authorized Officer
	 	 

C-1

 

EXHIBIT D

FORM OF INVESTMENT LETTER

               [DATE]

[Seller]

[Seller Address]

[Owner Trustee]

[Owner Trustee Address]

          Re:     DaimlerChrysler Auto Trust 2008-A Certificate

Ladies and Gentlemen:

          In connection with our acquisition of the above-referenced Certificates (the “Certificates”)
we certify that (a) we understand that the Certificates are not being registered under the
Securities Act of 1933, as amended (the “Act”), or any state securities laws and are being
transferred to us in a transaction that is exempt from the registration requirements of the Act and
any such laws, (b) we are an “accredited investor,” as defined in Regulation D under the Act, and
have such knowledge and experience in financial and business matters that we are capable of
evaluating the merits and risks of investments in the Certificates, (c) we have had the opportunity
to ask questions of and receive answers from the seller concerning the purchase of the Certificates
and all matters relating thereto or any additional information deemed necessary to our decision to
purchase the Certificates, (d) we are acquiring the Certificates for investment for our own account
and not with a view to any distribution of such Certificates (but without prejudice to our right at
all times to sell or otherwise dispose of the Certificates in accordance with clause (f) below),
(e) we have not offered or sold any Certificates to, or solicited offers to buy any Certificates
from, any person, or otherwise approached or negotiated with any person with respect thereto, or
taken any other action that would result in a violation of Section 5 of the Act or any state
securities laws and (f) we will not sell, transfer or otherwise dispose of any Certificates unless
(1) such sale, transfer or other disposition is made pursuant to an effective registration
statement under the Act and in compliance with any relevant state securities laws or is exempt from
such registration requirements and, if requested, we will at our expense provide an Opinion of
Counsel satisfactory to the addresses of this certificate that such sale, transfer or other
disposition may be made pursuant to an exemption from the Act, (2) the purchaser or transferee of
such Certificate has executed and delivered to you a certificate to substantially the same effect
as this certificate and (3) the purchaser or transferee has otherwise complied with any conditions
for transfer set forth in the Second Amended and Restated Trust dated as of February 1, 2008,
between DaimlerChrysler Financial Services Americas LLC, as Depositor, DaimlerChrysler Retail
Receivables LLC and BNYM (Delaware), as Owner Trustee.

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	[NAME OF TRANSFEREE]	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Authorized Officer
	 	 

D-1

 

EXHIBIT E

FORM OF RULE 144A LETTER

               [DATE]

[Seller]

[Seller Address]

[Owner Trustee]

[Owner Trustee Address]

          Re:     DaimlerChrysler Auto Trust 2008-A Certificates

Ladies and Gentlemen:

          In connection with our acquisition of the above-referenced Certificates (the “Certificates”)
we certify that (a) we understand that the Certificates are not being registered under the
Securities Act of 1933, as amended (the “Act”), or any state securities laws and are being
transferred to us in a transaction that is exempt from the registration requirements of the Act and
any such laws, (b) we have such knowledge and experience in financial and business matters that we
are capable of evaluating the merits and risks of investments in the Certificates, (c) we have had
the opportunity to ask questions of and receive answers from the seller concerning the purchase of
the Certificates and all matters relating thereto or any additional information deemed necessary to
our decision to purchase the Certificates, (d) we have not, nor has anyone acting on our behalf,
offered, transferred, pledged, sold or otherwise disposed of the Certificates or any interest in
the Certificates, or solicited any offer to buy, transfer, pledge or otherwise dispose of the
Certificates or any interest in the Certificates from any person in any manner, or made any general
solicitation by means of general advertising or in any other manner, or taken any other action that
would constitute a distribution of the Certificates under the Act or that would render the
disposition of the Certificates a violation of Section 5 of the Act or any state securities laws or
require registration pursuant thereto, and we will not act, or authorize any person to act, in such
manner with respect to the Certificates, (e) we are a “qualified institutional buyer” as that term
is defined in Rule 144A under the Act. We are aware that the sale to us is being made in reliance
on Rule 144A. We are acquiring the Certificates for our own account or for resale pursuant to
Rule 144A and understand that such Certificates may be resold, pledged or transferred only (i) to a
person reasonably believed to be a qualified institutional buyer that purchases for its own account
or for the account of a qualified institutional buyer to whom notice is given that the resale,
pledge or transfer is being made in reliance on Rule 144A or (ii) pursuant to another exemption
from registration under the Act.

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	[NAME OF TRANSFEREE]	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Authorized Officer
	 	 

E-1EX-10.1

 

Exhibit 10.1

Execution Copy

 

SALE AND SERVICING AGREEMENT

between

DAIMLERCHRYSLER AUTO TRUST 2008-A

Issuer,

and

DAIMLERCHRYSLER FINANCIAL SERVICES AMERICAS LLC,

Seller and Servicer

Dated as of February 1, 2008

 

 

 

	 	 	 	 	 
	ARTICLE I
	 	 	 	 
	 
	 	 	 	 
	Definitions
	 	 	 	 
	 
	 	 	 	 
	Section 1.01 Definitions

	 	 	1	 
	Section 1.02 Other Definitional Provisions

	 	 	15	 
	 
	 	 	 	 
	ARTICLE II
	 	 	 	 
	 
	 	 	 	 
	Conveyance of Receivables
	 	 	 	 
	 
	 	 	 	 
	Section 2.01 Conveyance of Receivables

	 	 	16	 
	Section 2.02 Conveyance of Fixed Value Payments and Fixed Value Finance Charges

	 	 	17	 
	Section 2.03 Fixed Value Securities

	 	 	17	 
	 
	 	 	 	 
	ARTICLE III
	 	 	 	 
	 
	 	 	 	 
	The Receivables
	 	 	 	 
	 
	 	 	 	 
	Section 3.01 Representations and Warranties of Seller with Respect to the Receivables

	 	 	19	 
	Section 3.02 Repurchase upon Breach

	 	 	22	 
	Section 3.03 Custody of Receivable Files

	 	 	22	 
	Section 3.04 Duties of Servicer as Custodian

	 	 	23	 
	Section 3.05 Instructions; Authority To Act

	 	 	23	 
	Section 3.06 Custodian’s Indemnification

	 	 	23	 
	Section 3.07 Effective Period and Termination

	 	 	24	 
	Section 3.08 Representations and Warranties as to the Security Interest of the Issuer in the Receivables

	 	 	24	 
	 
	 	 	 	 
	ARTICLE IV
	 	 	 	 
	 
	 	 	 	 
	Administration and Servicing of Receivables
	 	 	 	 
	 
	 	 	 	 
	Section 4.01 Duties of Servicer

	 	 	25	 
	Section 4.02 Collection and Allocation of Receivable Payments

	 	 	25	 
	Section 4.03 Realization upon Receivables

	 	 	26	 
	Section 4.04 Physical Damage Insurance

	 	 	26	 
	Section 4.05 Maintenance of Security Interests in Financed Vehicles

	 	 	26	 
	Section 4.06 Covenants of Servicer

	 	 	26	 
	Section 4.07 Purchase of Receivables upon Breach

	 	 	26	 
	Section 4.08 Servicing Fee

	 	 	27	 
	Section 4.09 Servicer’s Certificate

	 	 	27	 
	Section 4.10 Annual Statement as to Compliance; Item 1122 Servicing Criteria Assessment; Notice of Default

	 	 	27	 
	Section 4.11 Annual Independent Certified Public Accountants’ Report

	 	 	28	 

i

 

	 	 	 	 	 
	Section 4.12 Access to Certain Documentation and Information Regarding Receivables

	 	 	29	 
	Section 4.13 Servicer Expenses

	 	 	29	 
	Section 4.14 Appointment of Subservicer

	 	 	29	 
	 
	 	 	 	 
	ARTICLE V
	 	 	 	 
	 
	 	 	 	 
	Distributions; Reserve Account;
	 	 	 	 
	Statements to Noteholders
	 	 	 	 
	 
	 	 	 	 
	Section 5.01 Establishment of Deposit Account

	 	 	29	 
	Section 5.02 Collections

	 	 	31	 
	Section 5.03 Application of Collections

	 	 	31	 
	Section 5.04 Additional Deposits

	 	 	32	 
	Section 5.05 Distributions

	 	 	32	 
	Section 5.06 Reserve Account

	 	 	34	 
	Section 5.07 Statements to Noteholders

	 	 	35	 
	Section 5.08 Net Deposits

	 	 	35	 
	 
	 	 	 	 
	ARTICLE VI
	 	 	 	 
	 
	 	 	 	 
	The Seller
	 	 	 	 
	 
	 	 	 	 
	Section 6.01 Representations of Seller

	 	 	36	 
	Section 6.02 Preservation of Existence

	 	 	37	 
	Section 6.03 Liability of Seller; Indemnities

	 	 	37	 
	Section 6.04 Merger or Consolidation of, or Assumption of Obligations of, Seller

	 	 	38	 
	Section 6.05 Limitation on Liability of Seller and Others

	 	 	38	 
	Section 6.06 Seller May Own Notes

	 	 	39	 
	 
	 	 	 	 
	ARTICLE VII
	 	 	 	 
	 
	 	 	 	 
	The Servicer
	 	 	 	 
	 
	 	 	 	 
	Section 7.01 Representations of Servicer

	 	 	39	 
	Section 7.02 Indemnities of Servicer

	 	 	40	 
	Section 7.03 Merger or Consolidation of, or Assumption of Obligations of, Servicer

	 	 	41	 
	Section 7.04 Limitation on Liability of Servicer and Others

	 	 	41	 
	Section 7.05 DCFS Not to Resign as Servicer

	 	 	42	 
	 
	 	 	 	 
	ARTICLE VIII
	 	 	 	 
	 
	 	 	 	 
	Default
	 	 	 	 
	 
	 	 	 	 
	Section 8.01 Servicer Default

	 	 	42	 
	Section 8.02 Appointment of Successor

	 	 	43	 

ii

 

	 	 	 	 	 
	Section 8.03 Notification to Noteholders and Certificateholders

	 	 	44	 
	Section 8.04 Waiver of Past Defaults

	 	 	44	 
	 
	 	 	 	 
	ARTICLE IX
	 	 	 	 
	 
	 	 	 	 
	Termination
	 	 	 	 
	 
	 	 	 	 
	Section 9.01 Optional Purchase of All Receivables

	 	 	44	 
	 
	 	 	 	 
	ARTICLE X
	 	 	 	 
	 
	 	 	 	 
	Miscellaneous
	 	 	 	 
	 
	 	 	 	 
	Section 10.01 Amendment

	 	 	45	 
	Section 10.02 Protection of Title to Trust

	 	 	46	 
	Section 10.03 Notices

	 	 	48	 
	Section 10.04 Assignment by the Seller or the Servicer

	 	 	48	 
	Section 10.05 Limitations on Rights of Others

	 	 	48	 
	Section 10.06 Severability

	 	 	48	 
	Section 10.07 Separate Counterparts

	 	 	49	 
	Section 10.08 Headings

	 	 	49	 
	Section 10.09 Governing Law

	 	 	49	 
	Section 10.10 Assignment by Issuer

	 	 	49	 
	Section 10.11 Nonpetition Covenants

	 	 	49	 
	Section 10.12 Limitation of Liability of Owner Trustee and Indenture Trustee

	 	 	50	 
	 
	 	 	 	 
	ARTICLE XI
	 	 	 	 
	 
	 	 	 	 
	Exchange Act Reporting
	 	 	 	 
	 
	 	 	 	 
	Section 11.01 Further Assurances

	 	 	50	 
	Section 11.02 Form 10-D Filings

	 	 	50	 
	Section 11.03 Form 8-K Filings

	 	 	51	 
	Section 11.04 Form 10-K Filings

	 	 	51	 
	Section 11.05 Report on Assessment of Compliance and Attestation

	 	 	51	 
	Section 11.06 Back-up Sarbanes-Oxley Certification

	 	 	52	 
	Section 11.07 Use of Subcontractors

	 	 	52	 
	Section 11.08 Representations and Warranties

	 	 	53	 
	Section 11.09 Indemnification

	 	 	53	 
	Section 11.10 Amendments

	 	 	54	 
	 
	 	 	 	 
	SCHEDULE A Schedule of Receivables
	 	 	 	 
	SCHEDULE B Location of Receivable Files
	 	 	 	 
	SCHEDULE C Schedule of YSOA
	 	 	 	 

iii

 

	 	 	 	 	 
	EXHIBIT A Form of Distribution Statement to Noteholders

	 	A-1

	EXHIBIT B Form of Servicer’s Certificate

	 	B-1

	 
	 	 	 	 
	Appendix A Item 1119 Parties

	 	Appendix A-1

	Appendix B Minimum Servicing Criteria Assessment

	 	Appendix B-1

	Appendix C Performance Certification (Reporting Subcontractor)

	 	Appendix C-1

	Appendix D Performance Certification (Servicer)

	 	Appendix D-1

iv

 

     SALE AND SERVICING AGREEMENT dated as of February 1, 2008, between DAIMLERCHRYSLER AUTO TRUST
2008-A, a Delaware statutory trust (the “Issuer”), and DAIMLERCHRYSLER FINANCIAL SERVICES AMERICAS
LLC, a Michigan limited liability company, as seller and servicer.

     WHEREAS the Issuer desires to purchase a portfolio of receivables arising in connection with
automobile retail installment sale contracts generated by DaimlerChrysler Financial Services
Americas LLC in the ordinary course of business; and

     WHEREAS DaimlerChrysler Financial Services Americas LLC is willing to sell such receivables
to, and to service such receivables on behalf of, the Issuer;

     NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained,
the parties hereto agree as follows:

ARTICLE I

Definitions

     Section 1.01 Definitions. Whenever used in this Agreement, the following words and
phrases, unless the context otherwise requires, shall have the following meanings:

     “Amortizing Payment” means, with respect to each Fixed Value Receivable and each
Collection Period prior to the date on which the Fixed Value Payment relating to such Receivable is
due, the amount specified in the applicable Contract in the payment schedule as the “Amount of Each
Payment”, except that in the case of a prepayment, liquidation or repurchase by the Seller or
purchase by the Servicer, the Amortizing Payment shall be equal to the aggregate “Amount of Each
Payment” that has not yet been paid for the period through and including the last payment prior to
the date when the Fixed Value Payment is due less the amount of the unearned finance charges under
the related Contract allocable to such amount in accordance with the Servicer’s customary
procedures.

     “Amortizing Payment Finance Charge” means, with respect to each payment collected on a
Fixed Value Receivable, the finance charge included in such payment (as determined in accordance
with the Servicer’s customary procedures) that is allocable to the related Principal Balance.

     “Amount Financed” means (i) with respect to a Standard Receivable, the amount advanced
under such Standard Receivable toward the purchase price of the Financed Vehicle and any related
costs and (ii) with respect to a Fixed Value Receivable, an amount equal to the present value of
the fixed level payment monthly installments (not including the amount designated as the Fixed
Value Payment) under such Fixed Value Receivable, assuming that each payment is made on the due
date in the month in which such payment is due, discounted at the APR for such Fixed Value
Receivable.

     “Annual Percentage Rate” or “APR” of a Receivable means the annual rate of
finance charges stated in the related Contract.

 

 

     “Basic Documents” means the Indenture, the Trust Agreement, the Administration
Agreement and the Purchase Agreement.

     “Certificate” has the meaning assigned to such term in the Trust Agreement.

     “Certificateholder” has the meaning assigned to such term in the Trust Agreement.

     “Class” means any one of the classes of Notes.

     “Class A Noteholder” means the Person in whose name any Class A Note is registered in
the Note Register.

     “Class A-1 Final Scheduled Payment Date” means March 9, 2009.

     “Class A-1 Noteholder” means the Person in whose name a Class A-1 Note is registered
in the Note Register.

     “Class A-1 Principal Balance” means $350,000,000.

     “Class A-2 Final Scheduled Payment Date” means October 8, 2010.

     “Class A-2 Noteholder” means the Person in whose name a Class A-2 Note is registered
in the Note Register.

     “Class A-3 Final Scheduled Payment Date” means June 8, 2012.

     “Class A-3 Noteholder” means the Person in whose name a Class A-3 Note is registered
in the Note Register.

     “Class A-4 Final Scheduled Payment Date” means August 8, 2014.

     “Class A-4 Noteholder” means the Person in whose name a Class A-4 Note is registered
in the Note Register.

     “Class B Final Scheduled Payment Date” means August 8, 2014.

     “Class B Noteholder” means the Person in whose name a Class B Note is registered in
the Note Register.

     “Class C Final Scheduled Payment Date” means August 8, 2014.

     “Class C Noteholder” means the Person in whose name a Class C Note is registered in
the Note Register.

     “Class D Final Scheduled Payment Date” means February 8, 2015.

     “Class D Noteholder” means the Person in whose name a Class D Note is registered in
the Note Register.

     “Collection Period” means a calendar month (or in the case of the first Collection
Period, the period from but excluding January 31, 2008 to and including February 29, 2008). The

2

 

“related Collection Period” for a Payment Date is the Collection Period ending immediately
prior to such Payment Date. Unless otherwise specified, any amount stated as of the last day of a
Collection Period or as of the first day of a Collection Period shall give effect to the following
calculations as determined as of the close of business on such last day: (1) all applications of
collections and (2) all distributions to be made on the related Payment Date.

     “Commission” means the Securities and Exchange Commission.

     “Company” means Chrysler Residual Holdco LLC, a Delaware limited liability company,
and its successor in interest.

     “Contract” means a motor vehicle retail installment sale contract.

     “Corporate Trust Office” means (i) solely for purposes of transfer, surrender, or
exchange of the Notes, DB Services Tennessee, 648 Grassmere Road, Nashville, TN 37211-3658, Attn:
Transfer Unit and (ii) for all other purposes the principal office of the Indenture Trustee at
which at any particular time its corporate trust business shall be administered, which office at
the date of the execution of this Agreement is located at 60 Wall Street, 26th Floor, New York, New
York 10005-2858, Attention: Corporate Trust and Agency Services; or at such other address as the
Indenture Trustee may designate from time to time by notice to the Noteholders and the Seller, or
the principal corporate trust office of any successor Indenture Trustee (of which address such
successor Indenture Trustee will notify the Noteholders and the Seller).

     “Cutoff Date” means January 31, 2008.

     “DBRS” means DBRS, Inc., or its successor.

     “DCFS” means DaimlerChrysler Financial Services Americas LLC, a Michigan limited
liability company, or its successors.

     “Dealer” means the dealer who sold a Financed Vehicle and who originated and assigned
the related Receivable to DCFS under an existing agreement between such dealer and DCFS.

     “Delivery” when used with respect to Trust Account Property means:

     (a) with respect to bankers’ acceptances, commercial paper, negotiable certificates of
deposit and other obligations that constitute “instruments” within the meaning of
Section 9-102(a)(47) of the UCC and are susceptible of physical delivery, transfer thereof
to the Indenture Trustee or its nominee or custodian by physical delivery to the Indenture
Trustee or its nominee or custodian endorsed to, or registered in the name of, the Indenture
Trustee or its nominee or custodian or endorsed in blank, and, with respect to a
certificated security (as defined in Section 8-102 of the UCC) transfer thereof (i) by
delivery of such certificated security endorsed to, or registered in the name of, the
Indenture Trustee or its nominee or custodian or endorsed in blank to a securities
intermediary (as defined in Section 8-102 of the UCC) and the making by such securities
intermediary of entries on its books and records identifying such certificated securities
(as defined in Section 8-102 of the UCC) of the Indenture Trustee or its nominee or
custodian or (ii) by delivery thereof to a “clearing corporation” (as defined in
Section 8-102 of the UCC) and the making by such clearing corporation of appropriate

3

 

entries on its books reducing the appropriate securities account of the transferor and
increasing the appropriate securities account of a securities intermediary by the amount of
such certificated security, the identification by the clearing corporation on its books and
records that the certificated securities are credited to the sole and exclusive securities
account of the securities intermediary, the maintenance of such certificated securities by
such clearing corporation or a custodian or the nominee of such clearing corporation subject
to the clearing corporation’s exclusive control, and the making by such securities
intermediary of entries on its books and records identifying such certificated securities as
being credited to the securities account of the Indenture Trustee or its nominee or
custodian (all of the foregoing, “Physical Property”), and, in any event, any such Physical
Property in registered form shall be in the name of the Indenture Trustee or its nominee or
custodian; and such additional or alternative procedures as may hereafter become appropriate
to effect the complete transfer of ownership of any such Trust Account Property (as defined
herein) to the Indenture Trustee or its nominee or custodian, consistent with changes in
applicable law or regulations or the interpretation thereof;

     (b) with respect to any securities issued by the U.S. Treasury, the Federal Home Loan
Mortgage Corporation or by the Federal National Mortgage Association that are book-entry
securities held through the Federal Reserve System pursuant to Federal book-entry
regulations, the following procedures, all in accordance with applicable law, including
applicable Federal regulations and Articles 8 and 9 of the UCC: book-entry registration of
such Trust Account Property to an appropriate book-entry account maintained with a Federal
Reserve Bank by a securities intermediary which is also a “depository” pursuant to
applicable Federal regulations; the identification by the Federal Reserve Bank of such
book-entry securities on its record being credited to the securities intermediary’s
securities account; the making by such securities intermediary of entries in its books and
records identifying such book-entry security held through the Federal Reserve System
pursuant to Federal book-entry regulations as being credited to the Indenture Trustee’s
securities account; and such additional or alternative procedures as may hereafter become
appropriate to effect complete transfer of ownership of any such Trust Account Property to
the Indenture Trustee or its nominee or custodian, consistent with changes in applicable law
or regulations or the interpretation thereof; and

     (c) with respect to any item of Trust Account Property that is an uncertificated
security under Article 8 of the UCC and that is not governed by clause (a) above,
registration on the books and records of the issuer thereof in the name of the securities
intermediary, the sending of a confirmation by the securities intermediary of the purchase
by the Indenture Trustee or its nominee or custodian of such uncertificated security, the
making by such securities intermediary of entries on its books and records identifying such
uncertificated certificates as belonging to the Indenture Trustee or its nominee or
custodian.

     “Deposit Account” means the account designated as such, established and maintained
pursuant to Section 5.01.

     “Eligible Deposit Account” means either (a) a segregated account with an Eligible
Institution or (b) a segregated trust account with the corporate trust department of a depository
institution organized under the laws of the United States of America or any one of the states
thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate

4

 

trust powers and acting as trustee for funds deposited in such account, so long as any of the
securities of such depository institution shall have a credit rating from each Rating Agency in one
of its generic rating categories that signifies investment grade.

     “Eligible Institution” means (a) a depository institution organized under the laws of
the United States of America or any one of the states thereof or the District of Columbia (or any
domestic branch of a foreign bank), which (i) has either (A) a long-term unsecured debt rating of
“AAA” or better by Standard & Poor’s and Fitch and “Aaa” or better by Moody’s or (B) a certificate
of deposit rating of “A-1+” by Standard & Poor’s, “F1+” by Fitch and “P-1+” by Moody’s, or any
other long-term, short-term or certificate of deposit rating acceptable to the Rating Agencies and
(ii) whose deposits are insured by the FDIC or (b) the corporate trust department of the Indenture
Trustee or the Owner Trustee. If so qualified, the Indenture Trustee or the Owner Trustee may be
considered an Eligible Institution for the purposes of clause (a) of this definition.

     “Eligible Investments” means, subject to the last sentence below of this definition,
book-entry securities, negotiable instruments or securities represented by instruments in bearer or
registered form which evidence:

     (a) direct obligations of, and obligations fully guaranteed as to the full and timely
payment by, the United States of America;

     (b) demand deposits, time deposits or certificates of deposit of any depository
institution or trust company incorporated under the laws of the United States of America or
any state thereof (or any domestic branch of a foreign bank) and subject to supervision and
examination by Federal or State banking or depository institution authorities; provided,
however, that at the time of the investment or contractual commitment to invest therein, the
commercial paper or other short-term unsecured debt obligations (other than such obligations
the rating of which is based on the credit of a Person other than such depository
institution or trust company) thereof shall have a credit rating from each of the Rating
Agencies in the highest applicable rating category granted thereby;

     (c) commercial paper, variable amount notes or other short term debt obligations
having, at the time of the investment or contractual commitment to invest therein, a rating
from each of the Rating Agencies in the highest applicable rating category granted thereby;

     (d) investments in money market or common trust funds having a rating from each of the
Rating Agencies in the highest applicable rating category granted thereby, including funds
for which the Indenture Trustee or the Owner Trustee or any of their respective Affiliates
is investment manager or advisor;

     (e) bankers’ acceptances issued by any depository institution or trust company referred
to in clause (b) above;

     (f) repurchase obligations with respect to any security that is a direct obligation of,
or fully guaranteed by, the United States of America or any agency or instrumentality
thereof the obligations of which are backed by the full faith and credit of

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the United States of America, in either case entered into with a depository institution
or trust company (acting as principal) described in clause (b);

     (g) repurchase obligations with respect to any security or whole loan, entered into
with (i) a depository institution or trust company (acting as principal) described in clause
(b) above (except that the rating referred to in the proviso in such clause (b) shall be
“A-1” or higher in the case of Standard & Poor’s) (such depository institution or trust
company being referred to in this definition as a “financial institution”), (ii) a
broker/dealer (acting as principal) registered as a broker or dealer under Section 15 of the
Exchange Act (a “broker/dealer”) the unsecured short-term debt obligations of which are
rated at least “A-1” by Standard & Poor’s, “P-1” by Moody’s and “F1” by Fitch at the time of
entering into such repurchase obligation (a “rated broker/dealer”), (iii) an unrated
broker/dealer (an “unrated broker/dealer”), acting as principal, that is a wholly-owned
subsidiary of a non-bank holding company the unsecured short-term debt obligations of which
are rated at least “A-1” by Standard & Poor’s, “P-1” by Moody’s and “F1” by Fitch at the
time of entering into such repurchase obligation (a “Rated Holding Company”) or (iv) an
unrated subsidiary (a “Guaranteed Counterparty”), acting as principal, that is a
wholly-owned subsidiary of a direct or indirect parent Rated Holding Company, which
guarantees such subsidiary’s obligations under such repurchase agreement; provided that the
following conditions are satisfied:

     (A) the aggregate amount of funds invested in repurchase obligations of a
financial institution, a rated broker/dealer, an unrated broker/dealer or Guaranteed
Counterparty in respect of which the Standard & Poor’s unsecured short-term ratings
are “A-1” (in the case of an unrated broker/dealer or Guaranteed Counterparty, such
rating being that of the related Rated Holding Company) shall not exceed 20% of the
sum of the then outstanding principal amount of the Notes (there being no limit on
the amount of funds that may be invested in repurchase obligations in respect of
which such Standard & Poor’s rating is “A-1+” (in the case of an unrated
broker/dealer or Guaranteed Counterparty, such rating being that of the related
Rated Holding Company));

     (B) in the case of the amount allocated to the Reserve Account, the rating from
Standard & Poor’s in respect of the unsecured short-term debt obligations of the
financial institution, rated broker/dealer, unrated broker/dealer or Guaranteed
Counterparty (in the case of an unrated broker/dealer or Guaranteed Counterparty,
such rating being that of the related Rated Holding Company) shall be “A-1+”;

     (C) the repurchase obligation must mature within 30 days of the date on which
the Indenture Trustee or the Issuer, as applicable, enters into such repurchase
obligation;

     (D) the repurchase obligation shall not be subordinated to any other obligation
of the related financial institution, rated broker/dealer, unrated broker/dealer or
Guaranteed Counterparty;

6

 

     (E) the collateral subject to the repurchase obligation is held, in the
appropriate form, by a custodial bank on behalf of the Indenture Trustee or the
Issuer, as applicable;

     (F) the repurchase obligation shall require that the collateral subject thereto
shall be marked to market daily;

     (G) in the case of a repurchase obligation of a Guaranteed Counterparty, the
following conditions shall also be satisfied:

     (i) the Indenture Trustee or the Issuer, as applicable, shall have
received an opinion of counsel (which may be in-house counsel) to the effect
that the guarantee of the related Rated Holding Company is a legal, valid
and binding agreement of the Rated Holding Company, enforceable in
accordance with its terms, subject as to enforceability to bankruptcy,
insolvency, reorganization and moratorium or other similar laws affecting
creditors’ rights generally and to general equitable principles;

     (ii) the Indenture Trustee or the Issuer, as applicable, shall have
received (x) an incumbency certificate for the signer of such guarantee,
certified by an officer of such Rated Holding Company and (y) a resolution,
certified by an officer of the Rated Holding Company, of the board of
directors (or applicable committee thereof) of the Rated Holding Company
authorizing the execution, delivery and performance of such guarantee by the
Rated Holding Company;

     (iii) the only conditions to the obligation of such Rated Holding
Company to pay on behalf of the Guaranteed Counterparty shall be that the
Guaranteed Counterparty shall not have paid under such repurchase obligation
when required (it being understood that no notice to, demand on or other
action in respect of the Guaranteed Counterparty is necessary) and that the
Indenture Trustee or the Issuer shall make a demand on the Rated Holding
Company to make the payment due under such guarantee;

     (iv) the guarantee of the Rated Holding Company shall be irrevocable
with respect to such repurchase obligation and shall not be subordinated to
any other obligation of the Rated Holding Company;

     (v) Standard & Poor’s has confirmed in writing to the Indenture Trustee
or Issuer, as applicable, that it has reviewed the form of the guarantee of
the Rated Holding Company and has determined that the issuance of such
guarantee will not result in the downgrade or withdrawal of the ratings
assigned to the Notes;

     (vi) the Issuer or the Indenture Trustee shall have provided prior
written notice to Fitch of the proposed investment in such repurchase
obligation of a Guaranteed Counterparty; and

7

 

     (H) the repurchase obligation shall require that the repurchase obligation be
overcollateralized and shall provide that, upon any failure to maintain such
overcollateralization, the repurchase obligation shall become due and payable, and
unless the repurchase obligation is satisfied immediately, the collateral subject to
the repurchase agreement shall be liquidated and the proceeds applied to satisfy the
unsatisfied portion of the repurchase obligation; or

     (h) any other investment with respect to which the Issuer or the Servicer has received
written notification from the Rating Agencies that the acquisition of such investment as an
Eligible Investment will not result in a withdrawal or downgrading of the ratings assigned
to the Notes.

     Notwithstanding anything to the contrary in clauses (b) through (g) above, the Fitch
short-term rating requirement applicable to an Eligible Investment specified in any such clause
shall be (x) at least “F1” if such Eligible Investment matures in 30 days or less from the time of
investment by the Issuer or the Indenture Trustee, as the case may be, and (y) “F1+” if such
Eligible Investment matures more than 30 days from the time of investment by the Issuer or the
Indenture Trustee, as the case may be.

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

     “FDIC” means the Federal Deposit Insurance Corporation.

     “Final Scheduled Maturity Date” means February 8, 2015.

     “Financed Vehicle” means an automobile or light-duty truck, together with all
accessions thereto, securing an Obligor’s indebtedness under the respective Standard Receivable or
Fixed Value Receivable.

     “First Priority Principal Distribution Amount” means, with respect to a Payment Date,
the excess, if any, of (i) the Outstanding Amount of the Class A Notes immediately prior to such
Payment Date over (ii) (a) the Related Pool Balance minus (b) the YSOA for such Payment Date.

     “Fitch” means Fitch, Inc., or its successor.

     “Fixed Value Finance Charge” means, with respect to each payment collected on a Fixed
Value Receivable, the finance charge included in such payment (as determined in accordance with the
Servicer’s customary procedures) that is allocable to the related Fixed Value Payment.

     “Fixed Value Payment” means, with respect to each Fixed Value Receivable, the amount
specified on the applicable Contract as the “Amount of Fixed Value Payment” reduced (i) in the case
of a prepayment or repurchase, by the amount of the unearned finance charges under the Contract
allocable to such payment in accordance with the Servicer’s customary procedures and (ii) in the
case of a liquidation, by the excess of Liquidation Proceeds collected by the Servicer over the
Amortizing Payment on such date.

     “Fixed Value Receivable” means any Contract listed on Schedule A (which Schedule may
be in the form of microfiche) that provides for amortization of the loan over a series of fixed
level payment monthly installments in accordance with the simple interest method, but also requires
a final payment that is greater than the scheduled monthly payments and is due after

8

 

payment of such scheduled monthly payments and that may be made by (i) payment in full in cash
of a fixed value amount, (ii) return of the Financed Vehicle to the Servicer provided certain
conditions are satisfied or (iii) refinancing the final fixed value payment in accordance with
specified conditions. No Fixed Value Receivables will be transferred to the Trust.

     “Fixed Value Securities” has the meaning assigned to such term in Section 2.03.

     “Form 10-D Disclosure Item” means with respect to any Person, any litigation or
governmental proceedings pending against such Person, or any of the Issuer, the Seller, the
Indenture Trustee, the Owner Trustee or the Servicer if such Person, or in the case of the Owner
Trustee or Indenture Trustee, a Responsible Officer of such Person, has actual knowledge thereof,
in each case that would be material to the Noteholders.

     “Form 10-K Disclosure Item” means with respect to any Person, (a) any Form 10-D
Disclosure Item, (b) any affiliations between such Person and any Item 1119 Party, to the extent
such Person, or in the case of the Owner Trustee or Indenture Trustee, a Responsible Officer of
such Person, has actual knowledge thereof and (c) any relationships or transactions between such
Person and any Item 1119 Party that are outside the ordinary course of business or on terms other
than would be obtained in an arm’s-length transaction with an unrelated third party, apart from the
transactions contemplated under the Basic Documents, and that are material to the investors’
understanding of the Notes, but only to the extent such Person, or in the case of the Owner Trustee
or Indenture Trustee, a Responsible Officer of such Person, has actual knowledge of such
relationships or transactions.

     “Indenture” means the Indenture dated as of February 1, 2008, between the Issuer and
the Indenture Trustee.

     “Indenture Trustee” means the Person acting as Indenture Trustee under the Indenture,
its successors in interest and any successor trustee under the Indenture.

     “Initial Overcollateralization Amount” means $3,845,481.

     “Insolvency Event” means, with respect to a specified Person, (a) the filing of a
decree or order for relief by a court having jurisdiction in the premises in respect of such Person
or any substantial part of its property in an involuntary case under any applicable federal or
state bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a
receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such
Person or for any substantial part of its property, or ordering the winding-up or liquidation of
such Person’s affairs, and such decree or order shall remain unstayed and in effect for a period of
60 consecutive days; or (b) the commencement by such Person of a voluntary case under any
applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect,
or the consent by such Person to the entry of an order for relief in an involuntary case under any
such law, or the consent by such Person to the appointment of or taking possession by a receiver,
liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for
any substantial part of its property, or the making by such Person of any general assignment for
the benefit of creditors, or the failure by such Person generally to pay its debts as such debts
become due, or the taking of action by such Person in furtherance of any of the foregoing.

9

 

     “Investment Earnings” means, with respect to any Payment Date, the investment earnings
(net of losses and investment expenses), if any, on amounts on deposit in the Deposit Account to be
applied on such Payment Date pursuant to Section 5.01(b).

     “Issuer” means DaimlerChrysler Auto Trust 2008-A.

     “Item 1119 Party” means a party identified on Appendix A to this Agreement.

     “Lien” means a security interest, lien, charge, pledge, equity or encumbrance of any
kind, other than tax liens, mechanics’ liens and any liens that attach to the respective Receivable
by operation of law as a result of any act or omission by the related Obligor.

     “Liquidated Receivable” means any Receivable liquidated by the Servicer through the
sale of a Financed Vehicle or otherwise.

     “Liquidation Proceeds” means, with respect to any Liquidated Receivable, the moneys
collected in respect thereof, from whatever source on a Liquidated Receivable during the Collection
Period in which such Receivable became a Liquidated Receivable, net of the sum of any amounts
expended by the Servicer in connection with such liquidation and any amounts required by law to be
remitted to the Obligor on such Liquidated Receivable.

     “Moody’s” means Moody’s Investors Service, Inc., or its successor.

     “Note Principal Distribution Account” means the account that is named as a subaccount
to the Deposit Account and is designated as such, established and maintained pursuant to Section
5.01.

     “Notes” means the Class A-1 Notes, Class A-2a Notes, Class A-2b Notes, Class A-3a
Notes, Class A-3b Notes, Class A-4 Notes, Class B Notes, Class C Notes and Class D Notes.

     “Obligor” on a Receivable means the purchaser or co-purchasers of the Financed Vehicle
and any other Person who owes payments under the Receivable.

     “Officer’s Certificate” means a certificate signed by the chairman of the board, any
vice president, the controller or any assistant controller, the president, a treasurer, assistant
treasurer, secretary or assistant secretary of the Seller, the Company or the Servicer, as
appropriate.

     “OMSC Receivable” means any Standard Receivable acquired by DCFS from the Overseas
Military Sales Corporation, or its successor.

     “Opinion of Counsel” means one or more written opinions of counsel, who may be an
employee of or counsel to the Seller, the Company or the Servicer, which counsel shall be
acceptable to the Indenture Trustee, the Owner Trustee or the Rating Agencies, as applicable.

     “Original Pool Balance” means $1,555,000,035.25.

     “Overcollateralization Amount” means, with respect to any Payment Date, (i) the
Related Pool Balance minus (ii) the Securities Amount minus (iii) the YSOA.

     “Owner Trust Estate” has the meaning assigned to such term in the Trust Agreement.

10

 

     “Owner Trustee” means the Person acting as Owner Trustee under the Trust Agreement,
its successors in interest and any successor owner trustee under the Trust Agreement.

     “Payment Date” means, with respect to each Collection Period, the eighth day of the
following month or, if such day is not a Business Day, the immediately following Business Day,
commencing on March 10, 2008.

     “Payment Determination Date” means, with respect to any Payment Date, the Business Day
immediately preceding such Payment Date.

     “Person” shall mean any individual, corporation, limited liability company, estate,
partnership, joint venture, association, joint stock company, trust, unincorporated organization,
or government or any agency or political subdivision thereof.

     “Physical Property” has the meaning assigned to such term in the definition of
“Delivery” above.

     “Pool Balance” means, as of the close of business on the last day of a Collection
Period, the aggregate Principal Balance of the Receivables as of such day (excluding Purchased
Receivables and Liquidated Receivables).

     “Principal Balance” of a Receivable, as of the close of business on any date of
determination, means the Amount Financed minus the sum of (i) the portion of all payments made by
or on behalf of the related Obligor on or prior to such day and allocable to principal using the
Simple Interest Method and (ii) the principal portion of the Purchase Amount paid with respect to
the Receivable.

     “Purchase Agreement” means the Purchase Agreement dated as of February 1, 2008,
between the Seller and the Company.

     “Purchase Amount” means the amount, as of the close of business on the last day of a
Collection Period, required to prepay in full a Receivable under the terms thereof including
interest to the end of the month of purchase.

     “Purchased Receivable” means a Receivable purchased as of the close of business on the
last day of a Collection Period by the Servicer pursuant to Section 4.07 or by the Seller pursuant
to Section 3.02.

     “Rating Agency” means Standard & Poor’s, Moody’s and Fitch or, if no such organization
or successor is any longer in existence, a nationally recognized statistical rating organization or
other comparable Person designated by the Seller, notice of which designation shall be given to the
Indenture Trustee, the Owner Trustee and the Servicer. Any notice required to be given to a Rating
Agency pursuant to this Agreement shall also be given to DBRS, although DBRS shall not be deemed to
be a Rating Agency for any purposes of this Agreement.

     “Rating Agency Condition” means, with respect to any action, that each Rating Agency
shall have been given 10 days’ (or such shorter period as shall be acceptable to each Rating
Agency) prior notice thereof and that each of Moody’s and Standard & Poor’s shall have notified the
Seller, the Company, the Servicer, the Owner Trustee and the Indenture Trustee in writing that such
action will not result in a reduction or withdrawal of the then current rating of the

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Senior Notes; provided, however, that upon payment in full of the Senior Notes, “Rating Agency
Condition” means, with respect to any action, that the Holders of a majority of the Class D Stated
Principal Amount of the Class D Notes shall have consented in writing prior to the taking of such
action.

     “Receivable” means (i) any Standard Receivable and (ii) the Amortizing Payments with
respect to any Fixed Value Receivable.

     “Receivable Files” means the documents specified in Section 3.03.

     “Regulation AB” means subpart 229.1100 – Asset Backed Securities (Regulation AB), 17
C.F.R. §§229.1100-229.1123, as such may be amended from time to time, and subject to such
clarification and interpretation as have been provided by the Commission in the adopting release
(Asset-Backed Securities, Securities Act Release No. 33-8518, 70 Fed. Reg. 1,506, 1,531 (Jan. 7,
2005)) or by the staff of the Commission, or as may be provided by the Commission or its staff from
time to time.

     “Related Pool Balance” means, with respect to any Payment Date, the Pool Balance as of
the end of the related Collection Period.

     “Reportable Event” means any event required to be reported on Form 8-K, and in any
event, the following:

     (a) entry into a definitive agreement related to the Issuer, the Notes or the
Receivables, or an amendment to a Basic Document, even if the Seller is not a party to such
agreement (e.g., a servicing agreement with a servicer contemplated by Item 1108(a)(3) of
Regulation AB), it being understood that the event specified in this clause (a) shall not
apply to a Person other than the Seller if the Seller is a party to such agreement;

     (b) termination of a Basic Document (other than by expiration of the agreement on its
stated termination date or as a result of all parties completing their obligations under
such agreement), even if the Seller is not a party to such agreement (e.g., a servicing
agreement with a servicer contemplated by Item 1108(a)(3) of Regulation AB), it being
understood that the event specified in this clause (b) shall not apply to a Person other
than the Seller if the Seller is a party to such agreement;

     (c) with respect to the Servicer only, the occurrence of a Servicing Default or an
Event of Default;

     (d) the resignation, removal, replacement, substitution of the Indenture Trustee, the
Owner Trustee or any Co-Trustee only as applicable to each party;

     (e) with respect to the Indenture Trustee only, a required distribution to holders of
the Notes is not made as of the required Payment Date under the Indenture; and

     (f) with respect to the Servicer only, if the Servicer becomes aware of any bankruptcy
or receivership of the Seller, the Indenture Trustee, the Owner Trustee, any

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enhancement or support provider contemplated by Item 1114(b) or 1115 of Regulation AB,
or other material party contemplated by Item 1100(d)(1) of Regulation AB.

     “Reporting Subcontractor” means with respect to a Person, any Subcontractor determined
by such Person pursuant to Section 11.07 to be “participating in the servicing function” within the
meaning of Item 1122 of Regulation AB. References to a Reporting Subcontractor shall refer only to
the Subcontractor of such Person and shall not refer to Subcontractors generally.

     “Required Principal Distribution Amount” means, with respect to a Payment Date, the
greater of (i) the Outstanding Amount of the Class A-1 Notes immediately prior to such Payment Date
and (ii) the excess, if any, of (a) the Outstanding Amount of the Senior Notes immediately prior to
such Payment Date over (b) (I) the Related Pool Balance for such Payment Date minus (II) the YSOA
for such Payment Date minus (III) the Target Overcollateralization Amount for such Payment Date.

     “Reserve Account” means the account that is named as a subaccount to the Deposit
Account and is designated as such, established and maintained pursuant to Section 5.01.

     “Reserve Account Initial Deposit” means the initial deposit of cash and Eligible
Investments in the amount of $7,537,000 made by the Seller into the Deposit Account on the Closing
Date.

     “Sarbanes-Oxley Certificate” means the certification concerning the Trust to be signed
by an officer of the Servicer and submitted to the Securities and Exchange Commission pursuant to
the Sarbanes-Oxley Act of 2002.

     “Second Priority Principal Distribution Amount” means, with respect to a Payment Date,
(A) the excess, if any, of (i) the Outstanding Amount of the Class A Notes and the Class B Notes
immediately prior to such Payment Date over (ii) (a) the Related Pool Balance minus (b) the YSOA
for such Payment Date, minus (B) the First Priority Principal Distribution Amount.

     “Securities Act” means the Securities Act of 1933, as amended.

     “Securities Amount” means, with respect to any Payment Date, the sum of the aggregate
Outstanding Amount of the Senior Notes after giving effect to payments of principal made on the
Senior Notes on such Payment Date.

     “Seller” means DCFS and its successors in interest to the extent permitted hereunder.

     “Senior Notes” means Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class
A-4 Notes, Class B Notes and Class C Notes.

     “Servicer” means DCFS, as the servicer of the Receivables, and each successor to DCFS
(in the same capacity) pursuant to Section 7.03 or 8.02.

     “Servicer Default” means an event specified in Section 8.01.

     “Servicer’s Certificate” means a certificate of the Servicer delivered pursuant to
Section 4.09, substantially in the form of Exhibit B.

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     “Servicing Criteria” means the servicing criteria set forth in Item 1122(d) of
Regulation AB.

     “Servicing Fee” means the fee payable to the Servicer for services rendered during
each Collection Period, determined pursuant to Section 4.08.

     “Servicing Fee Rate” means 1/12 of 1.00%.

     “Simple Interest Method” means the method of allocating a fixed level payment to
principal and interest, pursuant to which the portion of such payment that is allocated to interest
is equal to the product of the fixed rate of interest multiplied by the unpaid principal balance
multiplied by a fraction, the numerator of which is the number of days elapsed since the preceding
payment of interest was made, the denominator of which is 365, and the remainder of such payment is
allocable to principal.

     “Simple Interest Receivable” means any Receivable under which the portion of a payment
allocable to interest and the portion allocable to principal is determined in accordance with the
Simple Interest Method.

     “Specified Reserve Amount” means, with respect to any Payment Date, an amount equal to
the Reserve Account Initial Deposit.

     “Standard & Poor’s” means Standard & Poor’s Ratings Services, a division of The
McGraw-Hill Companies, Inc., or its successor.

     “Standard Receivable” means any Contract listed on Schedule A (which Schedule may be
in the form of microfiche) that is not a Fixed Value Receivable.

     “Subcontractor” means any vendor, subcontractor or other Person that is not
responsible for the overall servicing (as “servicing” is commonly understood by participants in the
asset-backed securities market) of Receivables but performs one or more discrete functions
identified in Item 1122(d) of Regulation AB with respect to the Receivables under the direction or
authority of the Servicer or the Indenture Trustee.

     “Subordinated Termination Payment” means any termination payment required to be made
by the Issuer to the Hedge Counterparty pursuant to a Hedge in the event of a termination of such
Hedge in respect of which such Hedge Counterparty is the “defaulting party” or sole “affected
party” (each as defined in the applicable Hedge).

     “Target Overcollateralization Amount” means, with respect to a Payment Date, the
greater of (A) the product of 4.00% times P and (B) the OC Floor, where:

     P = (a) the Related Pool Balance for such Payment Date minus (b) the YSOA for
such Payment Date

     OC Floor = the lesser of (a) P and (b) the product of 1.00% times Pi

     Pi = the Original Pool Balance minus the initial YSOA

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     “Third Priority Principal Distribution Amount” means, with respect to a Payment Date,
(A) the excess, if any, of (i) the Outstanding Amount of the Class A Notes, the Class B Notes and
the Class C Notes immediately prior to such Payment Date over (ii) (a) the Related Pool Balance
minus (b) the YSOA for such Payment Date, minus (B) the First Priority Principal Distribution
Amount, minus (C) the Second Priority Principal Distribution Amount.

     “Total Distribution Amount” means, for any Payment Date and the Collection Period
preceding such Payment Date, the sum of the following amounts, without duplication: (a) all
collections on Receivables (including payments relating to refunds of extended warranty protection
plan costs or of physical damage, credit life or disability insurance policy premiums, but only to
the extent that such costs or premiums were financed by the respective obligor as of the date of
the related Contract), (b) all Liquidation Proceeds of Receivables that became Liquidated
Receivables in accordance with the Servicer’s customary servicing procedures, (c) the Purchase
Amount of each Receivable that became a Purchased Receivable in such Collection Period, (d) the
aggregate net amounts payable to the Issuer under the Hedges on such Payment Date and
(e) Investment Earnings deposited in the Deposit Account during such Collection Period.

     “Trust” means the Issuer.

     “Trust Account Property” means the Deposit Account, all amounts and investments held
from time to time in the Deposit Account (whether in the form of deposit accounts, Physical
Property, book-entry securities, uncertificated securities or otherwise), including the Reserve
Account Initial Deposit, and all proceeds of the foregoing.

     “Trust Agreement” means the Second Amended and Restated Trust Agreement dated as of
February 1, 2008, among the Seller, DaimlerChrysler Retail Receivables LLC and the Owner Trustee.

     “Trust Officer” means, in the case of the Indenture Trustee, any Officer within the
Corporate Trust Office of the Indenture Trustee, including any Vice President, Assistant Vice
President, Secretary, Assistant Secretary or any other officer of the Indenture Trustee customarily
performing functions similar to those performed by any of the above designated officers and also,
with respect to a particular matter, any other officer to whom such matter is referred because of
such officer’s knowledge of and familiarity with the particular subject and, with respect to the
Owner Trustee, any officer or any agent acting pursuant to a power of attorney by the Owner Trustee
in the Corporate Trust Administration Department of the Owner Trustee with direct responsibility
for the administration of the Trust Agreement and the Basic Documents on behalf of the Owner
Trustee.

     “YSOA” means, with respect to a Payment Date, the dollar amount set forth opposite
such Payment Date in Schedule YSOA; provided that the YSOA for a Payment Date shall not be greater
than the Related Pool Balance for such Payment Date.

     Section 1.02 Other Definitional Provisions. (a) Capitalized terms used herein and not
otherwise defined herein shall have the meanings assigned to them in the Indenture.

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     (b) All terms defined in this Agreement shall have the defined meanings when used in any
certificate or other document made or delivered pursuant hereto unless otherwise defined therein.

     (c) As used in this Agreement and in any certificate or other document made or delivered
pursuant hereto or thereto, accounting terms not defined in this Agreement or in any such
certificate or other document, and accounting terms partly defined in this Agreement or in any such
certificate or other document to the extent not defined, shall have the respective meanings given
to them under generally accepted accounting principles. To the extent that the definitions of
accounting terms in this Agreement or in any such certificate or other document are inconsistent
with the meanings of such terms under generally accepted accounting principles, the definitions
contained in this Agreement or in any such certificate or other document shall control.

     (d) The words “hereof”, “herein”, “hereunder” and words of similar import when used in this
Agreement shall refer to this Agreement as a whole and not to any particular provision of this
Agreement; Article, Section, Schedule and Exhibit references contained in this Agreement are
references to Articles, Sections, Schedules and Exhibits in or to this Agreement unless otherwise
specified; and the term “including” and its variants shall be deemed to be followed by “without
limitation”.

     (e) The definitions contained in this Agreement are applicable to the singular as well as the
plural forms of such terms and to the masculine as well as to the feminine and neuter genders of
such terms.

     (f) Any agreement, instrument or statute defined or referred to herein or in any instrument or
certificate delivered in connection herewith means such agreement, instrument or statute as from
time to time amended, modified or supplemented and includes (in the case of agreements or
instruments) references to all attachments thereto and instruments incorporated therein; references
to a Person are also to its permitted successors and assigns.

     (g) For all purposes of this Agreement and the Basic Documents, interest with respect to all
Classes of Senior Notes other than the Class A-1 Notes, the Class A-2b Notes and the Class A-3b
Notes, shall be computed on the basis of a 360-day year consisting of twelve 30-day months;
interest with respect to the Class A-1 Notes shall be computed on the basis of the actual number of
days in each applicable Class A-1 Interest Accrual Period divided by 360; and interest with respect
to the Class A-2b Notes and the Class A-3b Notes shall be computed on the basis of the actual
number of days in each applicable Floating Rate Interest Accrual Period divided by 360.

ARTICLE II

Conveyance of Receivables

     Section 2.01 Conveyance of Receivables. In consideration of the Issuer’s delivery to
or upon the order of the Seller of $1,030,740,805.55 (which amount represents the Original Pool
Balance less (i) the Reserve
Account Initial Deposit, (ii) the Initial Overcollateralization Amount, (iii) the initial
YSOA, (iv) the Class A-1 Principal Balance, (v) the purchase price paid by the Seller to the Issuer
for the Class B Notes, the Class C Notes, the Class D Notes and the

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Certificate and (vi) certain
other discounts and expenses of the Issuer), the Seller does hereby sell, transfer, assign, set
over and otherwise convey to the Issuer, without recourse (subject to the obligations of the Seller
set forth herein), all right, title and interest of the Seller in and to:

     (a) the Receivables and all moneys received thereon after January 31, 2008;

     (b) the security interests in the Financed Vehicles granted by Obligors pursuant to the
Receivables and any other interest of the Seller in such Financed Vehicles;

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

     (d) any proceeds from recourse to Dealers with respect to Receivables with respect to
which the Servicer has determined in accordance with its customary servicing procedures that
eventual payment in full is unlikely;

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

     (f) all funds on deposit from time to time in the Deposit Account (including without
limitation any subaccount thereof), including the Reserve Account Initial Deposit, and in
all investments and proceeds thereof (including all income thereon); and

     (g) the proceeds of any and all of the foregoing.

     The Seller hereby directs the Issuer to issue (i) the Class B Notes, the Class C Notes,
the Class D Notes and the Certificates to the order of Deutsche Bank Trust Company Americas
(in its capacity as the indenture trustee to Chrysler Retail Residual Trust) pursuant to the
Indenture dated as of August 3, 2007 between Chrysler Retail Residual Trust, as issuer, and
Deutsche Bank Trust Company Americas, as indenture trustee (as amended and supplemented from
time to time). The Seller and the Issuer acknowledge that $350,000,000 of the purchase
price of the Receivables owed by the Issuer to the Seller pursuant to this Section 2.01
(which amount is not included in the first sentence of Section 2.01) shall be offset by the
Issuer against delivery of the Class A-1 Notes to the order of the Seller.

     Section 2.02 Conveyance of Fixed Value Payments and Fixed Value Finance Charges.
Promptly following the transfer to the Issuer of the Receivables on the Closing Date, the Issuer
shall, without further action hereunder, be deemed to sell, transfer, assign, set over and
otherwise convey to the Seller, effective as of the Closing Date, without recourse, representation
or warranty, all the right, title and interest of the Issuer in and to the Fixed Value Payments and
the Fixed Value Finance Charges, if any, all monies due and to become due and all amounts received
with respect thereto and all proceeds thereof, subject to Section 5.03(b).

     Section 2.03 Fixed Value Securities. (a) At any time after the Closing Date, at the
option of the Seller and upon 10 days prior notice to the Owner Trustee and the Indenture Trustee,
the Seller will be permitted to sell to the Issuer, and the Issuer shall be obligated to

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purchase
from the Seller (subject to the availability of funds), all or any portion of the Fixed Value
Payments and/or Fixed Value Finance Charges, if any, subject to the terms and conditions described
below. Upon any such sale, (x) the Seller and the Owner Trustee will enter into an amendment to
this Agreement and the Basic Documents to provide for, at the election of the Seller, the issuance
of certificates representing ownership interests in the Trust to the extent of such Fixed Value
Payments and/or Fixed Value Finance Charges or the issuance of indebtedness by the Issuer secured
by such Fixed Value Payments (collectively, the “Fixed Value Securities”) and to make any other
provisions herein or therein that are necessary or desirable in connection therewith and (y) the
Owner Trustee will enter into any other agreements or instruments related thereto as requested by
the Seller; provided, however, that the Owner Trustee may, but shall not be obligated to, enter
into any such amendment, agreement or instrument that affects the Owner Trustee’s own rights,
duties or immunities under this Agreement or any other Basic Document; and provided, further, that
the obligation of the Issuer to purchase such Fixed Value Payments and/or Fixed Value Finance
Charges and of the Owner Trustee to enter into any such amendment or other agreement or instrument
is subject to the following conditions precedent:

     (i) such amendment and other agreements and instruments, in forms satisfactory to the
Owner Trustee and, in the case of amendments or agreements to be executed and delivered by
the Indenture Trustee, in forms satisfactory to the Indenture Trustee, shall have been
executed by each other party thereto and delivered to the Owner Trustee or the Indenture
Trustee as appropriate;

     (ii) the Seller shall have delivered to the Owner Trustee and the Indenture Trustee an
Officer’s Certificate and an Opinion of Counsel to the effect that each condition precedent
(including the requirement with respect to all required filings) provided by this Section
has been complied with and such amendment or other agreement or instrument is authorized or
permitted by this Agreement;

     (iii) the Rating Agency Condition shall have been satisfied with respect to such sale
and issuance;

     (iv) such sale and issuance and such amendment or other agreement or instrument shall
not adversely affect in any material respect the interest of any Noteholder or
Certificateholder, and the Seller shall have provided to the Owner Trustee and the Indenture
Trustee an Officer’s Certificate to such effect;

     (v) the Owner Trustee and the Indenture Trustee shall have received an Opinion of
Counsel to the effect that such sale and issuance will not have any material tax consequence
to any Noteholder or Certificateholder; and

     (vi) all filings and other actions required to continue the first perfected interest of
the Trust in the Owner Trust Estate and the Indenture Trustee in the Collateral shall have
been duly made or taken by the Seller.

     (b) Except as described in Section 10.04, the Seller will not sell, transfer, assign, set over
or otherwise convey the Fixed Value Payments and Fixed Value Finance Charges other than to the
Issuer pursuant to paragraph (a).

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ARTICLE III

The Receivables

     Section 3.01 Representations and Warranties of Seller with Respect to the Receivables.
The Seller makes the following representations and warranties as to the Receivables on which the
Issuer is deemed to have relied in acquiring the Receivables. Such representations and warranties
speak as of the execution and delivery of this Agreement and as of the Closing Date, but shall
survive the sale, transfer and assignment of the Receivables to the Issuer and the pledge thereof
to the Indenture Trustee pursuant to the Indenture.

     (a) Characteristics of Receivables. Each Standard Receivable and Fixed Value
Receivable (A) was originated in the United States of America by a Dealer for the retail
sale of a Financed Vehicle in the ordinary course of such Dealer’s business, was fully and
properly executed by the parties thereto, was purchased by the Seller from such Dealer under
an existing dealer agreement, (B) has created or shall create a valid, subsisting and
enforceable first priority security interest in favor of the Seller and is assignable by the
Seller to the Issuer and by the Issuer to the Indenture Trustee, (C) contains customary and
enforceable provisions such that the rights and remedies of the holder thereof are adequate
for realization against the collateral of the benefits of the security, and (D) generally
provides for level monthly payments (provided, that the payment in the first or last month
in the life of the Standard Receivable or Fixed Value Receivable may be minimally different
from the level payments and that the payment in the last month of a Fixed Value Receivable
may be a Fixed Value Payment) that fully amortize the Amount Financed by maturity and yield
interest at the Annual Percentage Rate. No Receivable conveyed to the Issuer on the Closing
Date is an OMSC Receivable or has forced-placed physical damage insurance.

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

     (c) Compliance with Law. Each Standard Receivable and Fixed Value Receivable
and the sale of the Financed Vehicle complied at the time it was originated or made and, at
the execution of this Agreement, complies in all material respects with all requirements of
applicable federal, state and local laws and regulations thereunder, including usury laws,
the federal Truth-in-Lending Act, the Equal Credit Opportunity Act, the Fair Credit
Reporting Act, the Fair Debt Collection Practices Act, the Federal Trade Commission Act, the
Magnuson-Moss Warranty Act, the Federal Reserve Board’s
Regulations B and Z, the Texas Consumer Credit Code and State adaptations of the
National Consumer Act and of the Uniform Consumer Credit Code, and other consumer credit
laws and equal credit opportunity and disclosure laws.

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     (d) Binding Obligation. Each Standard Receivable and Fixed Value Receivable
represents the genuine, legal, valid and binding payment obligation in writing of the
Obligor, enforceable by the holder thereof in accordance with its terms.

     (e) No Government Obligor. None of the Standard Receivables or Fixed Value
Receivables is due from the United States of America or any State or from any agency,
department or instrumentality of the United States of America or any State.

     (f) Security Interest in Financed Vehicle. Immediately prior to the sale,
assignment and transfer thereof, each Standard Receivable and Fixed Value Receivable shall
be secured by a validly perfected first security interest in the Financed Vehicle in favor
of the Seller as secured party or all necessary and appropriate actions have been commenced
that would result in the valid perfection of a first security interest in the Financed
Vehicle in favor of the Seller as secured party.

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

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

     (i) No Waiver. No provision of a Standard Receivable or Fixed Value Receivable
has been waived.

     (j) No Defenses. No right of rescission, setoff, counterclaim or defense has
been asserted or threatened with respect to any Standard Receivable or Fixed Value
Receivable.

     (k) No Liens. To the best of the Seller’s knowledge, no liens or claims have
been filed for work, labor or materials relating to a Financed Vehicle that are liens prior
to, or equal to or coordinate with, the security interest in the Financed Vehicle granted by
any Standard Receivable or Fixed Value Receivable.

     (l) No Default. No Standard Receivable or Fixed Value Receivable has a payment
that is more than 30 days overdue as of the related Cutoff Date, and, except as permitted in
this paragraph, no default, breach, violation or event permitting acceleration under the
terms of any Standard Receivable or Fixed Value Receivable has occurred; and no continuing
condition that with notice or the lapse of time would constitute a default, breach,
violation or event permitting acceleration under the terms of any Standard Receivable or
Fixed Value Receivable has arisen; and the Seller has not waived and shall not waive any of
the foregoing.

     (m) Insurance. The Seller, in accordance with its customary procedures, has
determined that, at the origination of the Standard Receivable or Fixed Value Receivable,
the Obligor had obtained physical damage insurance covering the
Financed Vehicle and

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under
the terms of the Standard Receivable and Fixed Value Receivable the Obligor is required to
maintain such insurance.

     (n) Title. It is the intention of the Seller that the transfer and assignment
herein contemplated constitute a sale of the Standard Receivables and Fixed Value
Receivables from the Seller to the Issuer and that the beneficial interest in and title to
the Standard Receivables and Fixed Value Receivables not be part of the debtor’s estate in
the event of the filing of a bankruptcy petition by or against the Seller under any
bankruptcy law. No Standard Receivable or Fixed Value Receivable has been sold,
transferred, assigned or pledged by the Seller to any Person other than the Issuer.
Immediately prior to the transfer and assignment herein contemplated, the Seller had good
and marketable title to each Standard Receivable and Fixed Value Receivable free and clear
of all Liens, encumbrances, security interests and rights of others and, immediately upon
the transfer thereof, the Issuer shall have good and marketable title to each Standard
Receivable and Fixed Value Receivable, free and clear of all Liens, encumbrances, security
interests and rights of others; and the transfer has been perfected under the UCC.

     (o) Lawful Assignment. No Standard Receivable or Fixed Value Receivable has
been originated in, or is subject to the laws of, any jurisdiction under which the sale,
transfer and assignment of such Standard Receivable or Fixed Value Receivable or any
Receivable under this Agreement or the Indenture is unlawful, void or voidable.

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

     (q) One Original. There is only one original executed copy of each Standard
Receivable and Fixed Value Receivable.

     (r) Maturity of Receivables. Each Standard Receivable and Fixed Value
Receivable has a final maturity date on or before January 31, 2014.

     (s) Scheduled Payments. (A) Each Standard Receivable and Fixed Value
Receivable has a first scheduled due date on or prior to the end of the month following the
related Cutoff Date and (B) no Standard Receivable or Fixed Value Receivable has a payment
that is more than 30 days overdue as of the related Cutoff Date, and has a final scheduled
payment date no later than the Final Scheduled Maturity Date.

     (t) Location of Receivable Files. The Receivable Files are kept at one or more
of the locations listed in Schedule B.

     (u) Remaining Maturity. The latest scheduled maturity of any Standard
Receivable or Fixed Value Receivable shall be no later than the Final Scheduled Maturity
Date.

     (v) Outstanding Principal Balance. Each Standard Receivable and Fixed Value
Receivable has an outstanding principal balance of at least $1,000.00.

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     (w) No Bankruptcies. No Obligor on any Standard Receivable or Fixed Value
Receivable as of the related Cutoff Date was noted in the related Receivable File as the
subject of a bankruptcy proceeding.

     (x) No Repossessions. No Financed Vehicle securing any Standard Receivable or
Fixed Value Receivable is in repossession status.

     (y) Chattel Paper. Each Standard Receivable and Fixed Value Receivable
constitutes “tangible chattel paper” as defined in the UCC.

     (z) Agreement. The representations of the Seller in Section 6.01 are true and
correct.

     (aa) Financing. As of the Cutoff Date, approximately 82.17% of the aggregate
principal balance of the Receivables, constituting approximately 75.42% of the number of
Receivables, represents new vehicles; all of the Receivables are Simple Interest
Receivables; and none of the Receivables are Fixed Value Receivables. The aggregate
principal balance of the Receivables, as of the Cutoff Date is $1,555,000,035.25.

     Section 3.02 Repurchase upon Breach. The Seller, the Servicer or the Owner Trustee,
as the case may be, shall inform the other parties to this Agreement and the Indenture Trustee
promptly, in writing, upon the discovery of any breach of the Seller’s representations and
warranties made pursuant to Section 3.01 or 6.01. Unless any such breach shall have been cured by
the last day of the second Collection Period following the discovery thereof by the Owner Trustee
or receipt by the Owner Trustee of written notice from the Seller or the Servicer of such breach,
the Seller shall be obligated to repurchase any Receivable materially and adversely affected by any
such breach as of such last day (or, at the Seller’s option, the last day of the first Collection
Period following the discovery). In consideration of the repurchase of any such Receivable, the
Seller shall remit the Purchase Amount, in the manner specified in Section 5.04. Subject to the
provisions of Section 6.03, the sole remedy of the Issuer, the Owner Trustee, the Indenture
Trustee, the Noteholders or the Certificateholders with respect to a breach of representations and
warranties pursuant to Section 3.01 and the agreement contained in this Section shall be to require
the Seller to repurchase Receivables pursuant to this Section, subject to the conditions contained
herein.

     Section 3.03 Custody of Receivable Files. To assure uniform quality in servicing the
Receivables and to reduce administrative costs, the Issuer hereby revocably appoints the Servicer,
and the Servicer hereby accepts such appointment, to act for the benefit of the Issuer and the
Indenture Trustee as custodian of the following documents or instruments which are hereby or will
hereby be constructively delivered
to the Indenture Trustee, as pledgee of the Issuer, as of the Closing Date with respect to
each Receivable:

     (a) the fully executed original of the Standard Receivable or Fixed Value Receivable;

     (b) the original credit application fully executed by the Obligor;

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     (c) the original certificate of title or such documents that the Servicer or the Seller
shall keep on file, in accordance with its customary procedures, evidencing the security
interest of the Seller in the Financed Vehicle; and

     (d) any and all other documents that the Servicer or the Seller shall keep on file, in
accordance with its customary procedures, relating to a Standard Receivable or Fixed Value
Receivable, an Obligor or a Financed Vehicle.

     Section 3.04 Duties of Servicer as Custodian. (a) Safekeeping. The Servicer
shall hold the Receivable Files as custodian for the benefit of the Issuer and maintain such
accurate and complete accounts, records and computer systems pertaining to each Receivable File as
shall enable the Issuer to comply with this Agreement. In performing its duties as custodian the
Servicer shall act with reasonable care, using that degree of skill and attention that the Servicer
exercises with respect to the receivable files relating to all comparable automotive receivables
that the Servicer services for itself or others. The Servicer shall conduct, or cause to be
conducted, periodic audits of the Receivable Files held by it under this Agreement and of the
related accounts, records and computer systems, in such a manner as shall enable the Issuer or the
Indenture Trustee to verify the accuracy of the Servicer’s record keeping. The Servicer shall
promptly report to the Issuer and the Indenture Trustee any failure on its part to hold the
Receivable Files and maintain its accounts, records and computer systems as herein provided and
shall promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed
to require an initial review or any periodic review by the Issuer or the Indenture Trustee of the
Receivable Files.

     (b) Maintenance of and Access to Records. The Servicer shall maintain each Receivable
File at one of its offices specified in Schedule B or at such other office as shall be specified to
the Issuer and the Indenture Trustee by written notice not later than 90 days after any change in
location. The Servicer shall make available to the Issuer and the Indenture Trustee or their
respective duly authorized representatives, attorneys or auditors a list of locations of the
Receivable Files and the related accounts, records and computer systems maintained by the Servicer
at such times during normal business hours as the Issuer or the Indenture Trustee shall instruct.

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

     Section 3.05 Instructions; Authority To Act
        . The Servicer shall be deemed to have received proper instructions with respect to the
Receivable Files upon its receipt of written instructions signed by a Trust Officer of the
Indenture Trustee.

     Section 3.06 Custodian’s Indemnification. The Servicer as custodian shall indemnify
the Trust, the Owner Trustee and the Indenture Trustee and each of their respective officers,
directors, employees and agents for any and all liabilities, obligations, losses, compensatory
damages, payments, costs or expenses of any kind whatsoever that may be imposed on, incurred by or
asserted against the Trust, the Owner Trustee or the Indenture Trustee or any of their respective
officers, directors, employees and agents as the result of any improper act or omission in any way
relating to the maintenance and custody by the Servicer as custodian of the

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Receivable Files;
provided, however, that the Servicer shall not be liable to the Owner Trustee for any portion of
any such amount resulting from the willful misfeasance, bad faith or negligence of the Owner
Trustee, and the Servicer shall not be liable to the Indenture Trustee for any portion of any such
amount resulting from the willful misfeasance, bad faith or negligence of the Indenture Trustee.

     Section 3.07 Effective Period and Termination. The Servicer’s appointment as
custodian shall become effective as of the Cutoff Date and shall continue in full force and effect
until terminated pursuant to this Section. If DCFS shall resign as Servicer in accordance with the
provisions of this Agreement or if all of the rights and obligations of any Servicer shall have
been terminated under Section 8.01, the appointment of such Servicer as custodian shall be
terminated by the Indenture Trustee or by the Holders of Notes evidencing not less than 25% of the
Outstanding Amount of the Notes or, with the consent of Holders of the Notes evidencing not less
than 25% of the Outstanding Amount of the Notes, by the Owner Trustee, in the same manner as the
Indenture Trustee or such Holders may terminate the rights and obligations of the Servicer under
Section 8.01. The Indenture Trustee or, with the consent of the Indenture Trustee, the Owner
Trustee may terminate the Servicer’s appointment as custodian, with cause, at any time upon written
notification to the Servicer and, without cause, upon 30 days’ prior written notification to the
Servicer. As soon as practicable after any termination of such appointment, the Servicer shall
deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s agent at such
place or places as the Indenture Trustee may reasonably designate.

     Section 3.08 Representations and Warranties as to the Security Interest of the Issuer in
the Receivables. The Seller makes the following representations and warranties to the Issuer.
The representations and warranties speak as of the execution and delivery of this Agreement and as
of the Closing Date, and shall survive the sale of the Trust Estate to the Issuer and the pledge
thereof to the Indenture Trustee pursuant to the Indenture.

     (a) This Agreement creates a valid and continuing security interest (as defined in the UCC) in
the Receivables in favor of the Trust, which security interest is prior to all other Liens, and is
enforceable as such as against creditors of and purchasers from the Seller.

     (b) The Receivables constitute “tangible chattel paper” within the meaning of Article 9 of the
UCC.

     (c) The Seller owns and has good and marketable title to the Receivables free and clear of any
lien, claim or encumbrance of any Person.

     (d) The Seller has caused or will have caused, within ten days, the filing of all appropriate
financing statements in the proper filing office in the appropriate jurisdictions under applicable
law in order to perfect the security interest in the Receivables granted to the Issuer hereunder.

     (e) Other than the security interest granted to the Issuer pursuant to this Agreement, the
Seller has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any
of the Receivables. The Seller has not authorized the filing of and is not aware of any financing
statements against the Seller that include a description of collateral covering the Receivables
other than any financing statement relating to the security interest granted to the

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Seller
hereunder or that has been terminated. The Seller is not aware of any judgment or tax lien filings
against it.

     (f) The Servicer as custodian for the Issuer has in its possession all original copies of the
contracts that constitute or evidence the Receivables. The contracts that constitute or evidence
the Receivables do not have any marks or notations indicating that they have been pledged, assigned
or otherwise conveyed to any Person other than the Issuer.

ARTICLE IV

Administration and Servicing of Receivables

     Section 4.01 Duties of Servicer. The Servicer, for the benefit of the Issuer (to the
extent provided herein), shall manage, service, administer and make collections on the Receivables
(other than Purchased Receivables) with reasonable care, using that degree of skill and attention
that the Servicer exercises with respect to all comparable automotive receivables that it services
for itself or others. The Servicer’s duties shall include collection and posting of all payments,
responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending
payment coupons to Obligors, reporting tax information to Obligors, accounting for collections and
furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with
respect to distributions. Subject to the provisions of Section 4.02, the Servicer shall follow its
customary standards, policies and procedures in performing its duties as Servicer. Without
limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and
deliver, on behalf of itself, the Issuer, the Owner Trustee, the Indenture Trustee, the
Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or
cancellation, or partial or full release or discharge, and all other comparable instruments, with
respect to such Receivables or to the Financed Vehicles securing such Receivables. If the Servicer
shall commence a legal proceeding to enforce a Receivable, the Issuer (in the case of a Receivable
other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely
for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit
or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the
ground that it shall not be a real party in interest or a holder entitled to enforce such
Receivable, the Owner Trustee shall, at the Servicer’s expense and direction, take steps to enforce
such Receivable, including bringing suit in its name or the name of the Owner Trustee, the
Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee shall upon the
written request of the Servicer furnish the Servicer with any powers of attorney and other
documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and
administrative duties hereunder.

     Section 4.02 Collection and Allocation of Receivable Payments. The Servicer shall
make reasonable efforts to collect all payments called for under the terms and provisions of the
Receivables as and when the same shall become due and shall follow such collection procedures as it
follows with respect to all comparable automotive receivables that it services for itself or
others. The Servicer shall allocate collections between principal and interest in accordance with
the customary servicing procedures it follows with respect to all comparable automotive receivables
that it services for itself or others. The Servicer may grant extensions, rebates or adjustments
on a Standard Receivable or Fixed Value Receivable; provided, however, that if the Servicer extends
the date for final payment by the Obligor of any Receivable beyond the Final Scheduled Maturity
Date, it shall promptly repurchase the Standard Receivable or Fixed Value

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Receivable from the
Issuer in accordance with the terms of Section 4.07. The Servicer may in its discretion waive any
late payment charge or any other fees that may be collected in the ordinary course of servicing a
Standard Receivable or Fixed Value Receivable. The Servicer shall not agree to any alteration of
the interest rate or the originally scheduled payments on any Standard Receivable or Fixed Value
Receivable.

     Section 4.03 Realization upon Receivables. On behalf of the Issuer, the Servicer
shall use its best efforts, consistent with its customary servicing procedures, to repossess or
otherwise convert the ownership of the Financed Vehicle securing any Receivable as to which the
Servicer shall have determined eventual payment in full is unlikely. The Servicer shall follow
such customary and usual practices and procedures as it shall deem necessary or advisable in its
servicing of automotive receivables, which may include reasonable efforts to realize upon any
recourse to Dealers and selling the Financed Vehicle at public or private sale. The foregoing
shall be subject to the provision that, in any case in which the Financed Vehicle shall have
suffered damage, the Servicer shall not expend funds in connection with the repair or the
repossession of such Financed Vehicle unless it shall determine in its discretion that such repair
and/or repossession will increase the Liquidation Proceeds by an amount greater than the amount of
such expenses.

     Section 4.04 Physical Damage Insurance. The Servicer shall, in accordance with its
customary servicing procedures, require that each Obligor shall have obtained physical damage
insurance covering the Financed Vehicle as of the execution of the Standard Receivable or Fixed
Value Receivable.

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

     Section 4.06 Covenants of Servicer. The Servicer shall not release the Financed
Vehicle securing any Receivable from the security interest granted by such Receivable in whole or
in part except in the event of payment in full by the Obligor thereunder or repossession, nor shall
the Servicer impair the rights of the Issuer, the Indenture Trustee, the Certificateholders or the
Noteholders in such Receivable, nor shall the Servicer increase the number of scheduled payments
due under a Standard Receivable or Fixed Value Receivable.

     Section 4.07 Purchase of Receivables upon Breach. The Servicer or the Owner Trustee
shall inform the other party and the Indenture Trustee and the Seller promptly, in writing, upon
the discovery of any breach pursuant to Section 4.02, 4.05 or 4.06. Unless the breach shall have
been cured by the last day of the second Collection Period following such discovery (or, at the
Servicer’s election, the last day of the first following Collection Period), the Servicer shall
purchase any Receivable materially and adversely affected by such breach as of such last day. If
the Servicer takes any action during any Collection Period pursuant to Section 4.02 that impairs
the rights of the Issuer, the Indenture Trustee, the Certificateholders or the Noteholders in any
Receivable or as otherwise provided in Section 4.02, the Servicer shall purchase such Receivable as
of the last day of such Collection Period. In consideration of the purchase of any such Receivable
pursuant to either of the two preceding sentences, the Servicer shall remit the

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Purchase Amount in
the manner specified in Section 5.04. Subject to Section 7.02, the sole remedy of the Issuer, the
Owner Trustee, the Indenture Trustee, the Certificateholders or the Noteholders with respect to a
breach pursuant to Section 4.02, 4.05 or 4.06 shall be to require the Servicer to purchase
Receivables pursuant to this Section. The Owner Trustee shall have no duty to conduct any
affirmative investigation as to the occurrence of any condition requiring the repurchase of any
Receivable pursuant to this Section.

     Section 4.08 Servicing Fee. The Servicing Fee for a Payment Date shall equal the
product of (a) the Servicing Fee Rate (or, in the case of the initial Collection Period, the
product of (i) a fraction, the numerator of which is equal to the number of days (based on a 30-day
month) elapsed from and excluding the Cutoff Date through the last day of such initial Collection
Period and the denominator of which is 360 and (ii) 1.00%), and (b) the Pool Balance as of the
first day of the preceding Collection Period. The Servicer shall also be entitled to all late
fees, prepayment charges, and other administrative fees or similar charges allowed by applicable
law with respect to the Receivables, collected (from whatever source) on the Receivables, plus any
reimbursement pursuant to the last paragraph of Section 7.02.

     Section 4.09 Servicer’s Certificate. Not later than 11:00 a.m. (New York
time) on each Payment Determination Date, the Servicer shall deliver to the Owner Trustee, each
Paying Agent, the Indenture Trustee and the Seller, with a copy to the Rating Agencies, a
Servicer’s Certificate containing all information necessary to make the distributions to be made on
the related Payment Date pursuant to Sections 5.05 and 5.06 for the related Collection Period.
Receivables to be purchased by the Servicer or to be repurchased by the Seller shall be identified
by the Servicer by account number with respect to such Receivable (as specified in Schedule A).

     Section 4.10 Annual Statement as to Compliance; Item 1122 Servicing Criteria Assessment;
Notice of Default. (a) The Servicer shall deliver to the Owner Trustee and the Indenture
Trustee, on or before March 31 of each year beginning March 31, 2009 the following:

     (i) an Officer’s Certificate, dated as of December 31st of the preceding year, stating
that (x) a review of the activities of the Servicer during the preceding 12-month period (or
such shorter period in the case of the first such Officer’s Certificate) and of its
performance under this Agreement has been made under such officers’ supervision and (y) to
the best of such officers’ knowledge, based on such review, the Servicer has fulfilled all
its obligations under this Agreement in all material respects throughout such period or, if
there has been a failure to fulfill any such obligations in any material respect, specifying
each such failure known to such officer and the nature and status thereof.

     (ii) the Servicing Criteria assessment required to be filed in respect of the Issuer
under the Exchange Act under Item 1122 of Regulation AB if periodic reports under Section
15(d) of the Exchange Act, or any successor provision thereto, were required to be filed in
respect of the Issuer. Such report shall be signed by an authorized officer of the Servicer
and shall at a minimum address each of the Servicing Criteria specified on a certification
substantially in the form of Appendix B hereto delivered to the Seller concurrently with the
execution of this Agreement. To the extent any of the Servicing Criteria are not applicable
to the Servicer, with respect to asset-backed securities transactions taken as a whole
involving the Servicer that are backed by the same asset type as the Receivables, such
report shall include such a statement to that

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effect. The Seller, the Servicer and each of
their respective officers and directors shall be entitled to rely on each such servicing
criteria assessment.

     The Indenture Trustee, upon the written request of the Rating Agencies, shall send a copy of
such certificate, such assessment and the report referred to in Section 4.11 to the Rating
Agencies. A copy of such certificate, such assessment and the report referred to in Section 4.11
may be obtained by any Certificateholder, Noteholder or Note Owner by a request in writing to the
Owner Trustee addressed to the Corporate Trust Office. Upon the telephone request of the Owner
Trustee, the Indenture Trustee will promptly furnish the Owner Trustee a list of Noteholders as of
the date specified by the Owner Trustee.

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

     (c) The Servicer shall cause each Reporting Subcontractor to deliver to the Seller an
assessment of compliance and accountants’ attestation as and when provided in paragraph (a)(ii) of
this Section 4.10 and Section 4.11. The Servicer shall execute (provided the Servicer is not an
Affiliate of the Seller) (and shall cause each Reporting Subcontractor to execute) a reliance
certificate to enable the Certification Parties to rely upon each (i) annual report on assessments
of compliance with servicing criteria provided pursuant to this Section 4.10 and (ii) accountants’
report provided pursuant to Section 4.11 and shall include a certification that each such annual
compliance statement or report discloses any deficiencies or defaults described to the registered
public accountants of such Person to enable such accountants to render the report provided for in
Section 4.11.

     (d) In the event the Servicer, any subservicer or Reporting Subcontractor is terminated or
resigns during the term of this Agreement, such Person shall provide the documents and information
pursuant to this Section 4.10 and Section 4.11 with respect to the period of time it was subject to
this Agreement or provided services with respect to the Issuer or the Receivables. Notwithstanding
anything to the contrary contained herein, if the Servicer has exercised commercially reasonable
efforts to obtain any assessment or attestation required hereunder from a Reporting Subcontractor,
the failure by the Reporting Subcontractor to provide such attestation on or assessment shall not
constitute a breach hereunder by the Servicer.

     Section 4.11 Annual Independent Certified Public Accountants’ Report. The Servicer
shall cause a firm of independent certified public accountants, who may also render other services
to the Servicer or the Seller, to deliver to the Owner Trustee and the Indenture Trustee on or
before March 31 of each year, beginning March 31, 2009 with respect to the prior calendar year (or
such shorter period in the case of the first such report) the attestation report that would be
required to be filed in respect of the Issuer under the Exchange Act if periodic reports under
Section 15(d) of the Exchange Act, or any successor provision thereto, were required to be filed in
respect of the Trust. Such attestation shall 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, including, without limitation that in
the event that an overall opinion cannot be expressed, such registered public accounting firm shall
state in such report why it was unable to express such an opinion.

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

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

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

ARTICLE V

Distributions; Reserve Account;

Statements to Noteholders

     Section 5.01 Establishment of Deposit Account. (a) The Servicer, for the benefit of
the Noteholders and the Hedge Counterparty, shall establish and maintain in the name of the
Indenture Trustee an Eligible Deposit Account (the “Deposit Account”), bearing a designation
clearly indicating that the funds deposited therein are held for the benefit of the Noteholders and
the Hedge Counterparty. The Servicer shall establish the Note Principal Distribution Account and
the Reserve Account and shall name such accounts subaccounts to the Deposit Account.

     (b) Funds on deposit in the Deposit Account shall be invested (1) by the Indenture Trustee in
Eligible Investments selected in writing by the Servicer or an investment manager selected by the
Servicer or (2) by an investment manager in Eligible Investments selected by such investment
manager; provided that (A) such investment manager shall be selected by the Servicer, (B) such
investment manager shall have agreed to comply with the terms of this Agreement as it relates to
investing such funds, (C) any investment so selected by such investment manager shall be made in
the name of the Indenture Trustee and shall be settled by a Delivery to the Indenture Trustee that
complies with the terms of this Agreement as it relates to investing such funds, and (D) prior to
the settlement of any investment so selected by such

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investment manager the Indenture Trustee shall
affirm that such investment is an Eligible Investment. The Servicer will direct all investments
through written approval. In the event the Indenture Trustee must invest funds on deposit in the
Deposit Account, the Indenture Trustee
will follow the most recent written direction of the Servicer. It is understood and agreed
that the Indenture Trustee shall not be liable for any loss arising from an investment in Eligible
Investments made in accordance with this Section 5.01(b). All such Eligible Investments shall be
held by the Indenture Trustee for the benefit of the Noteholders and the Hedge Counterparty, as
applicable; provided, that on each Payment Determination Date all interest and other investment
income (net of losses and investment expenses) on funds on deposit in the Deposit Account (to the
extent such interest and income is on deposit in the Deposit Account at the end of the related
Collection Period) shall be deemed to constitute a portion of the Total Distribution Amount for the
related Payment Date. Other than as permitted by the Rating Agencies, funds on deposit in the
Deposit Account shall be invested in Eligible Investments that will mature on or before the next
Payment Date.

     (c) (i) The Indenture Trustee shall possess all right, title and interest in all funds on
deposit from time to time in the Deposit Account and in all proceeds thereof (including all income
thereon) and all such funds, investments, proceeds and income shall be part of the Trust Estate.
The Deposit Account shall be under the sole dominion and control of the Indenture Trustee for the
benefit of the Noteholders and the Hedge Counterparty, as applicable. If, at any time, the Deposit
Account ceases to be an Eligible Deposit Account, the Indenture Trustee (or the Servicer on its
behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to
which each Rating Agency may consent) establish a new Deposit Account as an Eligible Deposit
Account and shall transfer any cash and/or any investments to such new Deposit Account.

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

     (A) any Trust Account Property that is held in deposit accounts shall be held
solely in the Eligible Deposit Accounts, subject to the last sentence of Section
5.01(c)(i); and each such Eligible Deposit Account shall be subject to the exclusive
custody and control of the Indenture Trustee, and the Indenture Trustee shall have
sole signature authority with respect thereto;

     (B) any Trust Account Property that constitutes Physical Property shall be
delivered to the Indenture Trustee in accordance with paragraph (a) of the
definition of “Delivery” and shall be held, pending maturity or disposition, solely
by the Indenture Trustee or a securities intermediary (as such term is defined in
Section 8-102 of the UCC) acting solely for the Indenture Trustee;

     (C) any Trust Account Property that is a book-entry security held through the
Federal Reserve System pursuant to federal book-entry regulations shall be delivered
in accordance with paragraph (b) of the definition of “Delivery” and shall be
maintained by the Indenture Trustee, pending maturity or disposition, through
continued book-entry registration of such Trust Account Property as described in
such paragraph; and

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     (D) any Trust Account Property that is an “uncertificated security” under
Article VIII of the UCC and that is not governed by clause (C) above shall be
delivered to the Indenture Trustee in accordance with paragraph (c) of the
definition of “Delivery” and shall be maintained by the Indenture Trustee,
pending maturity or disposition, through continued registration of the Indenture
Trustee’s (or its nominee’s) ownership of such security.

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

     Section 5.02 Collections. Subject to the continued satisfaction of the commingling
conditions described below, the Servicer shall remit to the Deposit Account all payments by or on
behalf of the Obligors with respect to the Receivables (other than Purchased Receivables and not
including Fixed Value Payments), all Liquidation Proceeds collected during the related Collection
Period, prior to 11:00 a.m. (New York time) on the related Payment Date. Notwithstanding
the foregoing, if any of the commingling conditions ceases to be met, the Servicer shall remit to
the Deposit Account all payments by or on behalf of the Obligors with respect to the Receivables
(other than Purchased Receivables and not including Fixed Value Payments) and all Liquidation
Proceeds within two Business Days of receipt thereof. The commingling conditions are as follows:
(i) DCFS must be the Servicer, (ii) no Servicer Default shall have occurred and be continuing and
(iii) (x) DCFS must maintain a short-term rating of at least “A-1” by Standard & Poor’s, “P-1” by
Moody’s and “F-1” by Fitch or (y) if daily remittances occur hereunder, prior to ceasing daily
remittances, the Rating Agency Condition shall have been satisfied (and any conditions or
limitations imposed by the Rating Agencies in connection therewith are complied with).
Notwithstanding anything herein to the contrary, so long as DCFS is the Servicer, DCFS may withhold
from the deposit into the Deposit Account any amounts indicated on the related Servicer’s
Certificate as being due and payable to DCFS or the Seller and pay such amounts directly to DCFS or
the Seller, as applicable. For purposes of this Article V, the phrase “payments by or on behalf of
Obligors” shall mean payments made with respect to the Receivables by Persons other than the
Servicer or the Seller. In the event the commingling conditions cease to be met, the Servicer
shall make daily remittance of collections to the Deposit Account within two Business Days of
receipt thereof; provided, however, daily remittance may commence no later than five Business Days
following a reduction of DCFS’s short-term ratings below “P-1” by Moody’s or “F1” by Fitch or “A-1”
by Standard & Poor’s.

     Section 5.03 Application of Collections. (a) All collections for the Collection
Period shall be applied by the Servicer as follows:

     With respect to each Receivable (other than a Purchased Receivable), payments by or on
behalf of the Obligor shall be applied to interest and principal in accordance with the
Simple Interest Method.

     (b) All collections of finance charges on a Fixed Value Receivable (as determined in
accordance with the Servicer’s customary procedures) shall be applied, first, to the Amortizing
Payment Finance Charges due and unpaid on the related Principal Balance and then to the Fixed
Value Finance Charges due and unpaid on the related Fixed Value Payment. The Servicer shall

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release to the Holders of the Class D Notes the Collections allocated to Fixed Value Finance
Charges pursuant to the preceding sentence. All Liquidation Proceeds with respect to any Fixed
Value Receivable shall be applied first to the related Receivable and only after the payment in
full of the Principal Balance thereof plus accrued but unpaid interest thereon shall any such
Liquidation Proceeds be applied to, or constitute, the related Fixed Value Payment.

     Section 5.04 Additional Deposits. The Servicer and the Seller shall deposit or cause
to be deposited in the Deposit Account the aggregate Purchase Amount with respect to Purchased
Receivables and the Servicer shall deposit therein all amounts to be paid under Section 9.01. The
Servicer will deposit the aggregate Purchase Amount with respect to Purchased Receivables when such
obligations are due, unless the Servicer shall not be required to make daily deposits pursuant to
Section 5.02. All such other deposits shall be made on the Payment Determination Date for the
related Collection Period.

     Section 5.05 Distributions.

     (a) (i) On each Payment Determination Date, the Servicer shall calculate all amounts required
to be distributed to the Noteholders and Hedge Counterparty and all amounts to be allocated within
the Deposit Account as described below. For purposes of this Section, the Servicing Fee for the
related Payment Date and any previously unpaid Servicing Fees shall be deducted from the Total
Distribution Amount at any time on or prior to the Payment Date. If the Total Distribution Amount
during a Collection Period has reached a level which covers the payments due pursuant to clauses
(A), (B), (C), (D), (E), (F), (G), (H), (I) and (J) of Section 5.05(a)(ii), then for the remainder
of the Collection Period the Servicer may net the amounts, if any, distributable pursuant to clause
(J) of Section 5.05(a)(ii) out of the Total Distribution Amount before depositing the Total
Distribution Amount into the Deposit Account and pay such amounts directly to the related
recipient.

     (ii) Subject to Section 5.04(b) of the Indenture, on each Payment Date the Servicer
shall instruct the Indenture Trustee (based on the information contained in the Servicer’s
Certificate delivered on the related Payment Determination Date pursuant to Section 4.09) to
distribute the following allocations and credits by 11:00 a.m. (New York time), to
the extent of the Total Distribution Amount (net of the Servicing Fee for such Payment Date
and any previously unpaid Servicing Fees and any amount payable pursuant to Section
5.05(a)(ii)(J) that has already been deducted pursuant to Section 5.05(a)(i)), in the
following order of priority:

     (A) allocate to the Hedge Counterparty from such net Total Distribution Amount,
an amount equal to the net scheduled periodic payments, if any, then due to them
under the Hedges;

     (B) on a pro rata basis, from such net Total Distribution Amount remaining
after the application of clause (A), (1) allocate to the Hedge
Counterparty an amount equal to the termination payments, if any, excluding
Subordinated Termination Payments, then due to them under the Hedges and (2)
allocate to the Class A Noteholders for distribution pursuant to Section 8.02 of the
Indenture an amount equal to the accrued and unpaid interest due on the Class A
Notes on such Payment Date;

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     (C) credit, from such net Total Distribution Amount remaining after the
application of clauses (A) and (B), the First Priority Principal Distribution Amount
to the Note Principal Distribution Account;

     (D) allocate to the Class B Noteholders for distribution pursuant to Section
8.02 of the Indenture, from such net Total Distribution Amount remaining after the
application of clauses (A), (B) and (C), an amount equal to the accrued and unpaid
interest due on the Class B Notes;

     (E) credit, from such net Total Distribution Amount remaining after the
application of clauses (A), (B), (C) and (D), the Second Priority Principal
Distribution Amount to the Note Principal Distribution Account;

     (F) allocate to the Class C Noteholders for distribution pursuant to Section
8.02 of the Indenture, from such net Total Distribution Amount remaining after the
application of clauses (A), (B), (C), (D) and (E), an amount equal to the accrued
and unpaid interest due on the Class C Notes;

     (G) credit, from such net Total Distribution Amount remaining after the
application of clauses (A), (B), (C), (D), (E) and (F), the Third Priority Principal
Distribution Amount to the Note Principal Distribution Account;

     (H) allocate to the Reserve Account, from such net Total Distribution Amount
remaining after the application of clauses (A), (B), (C), (D), (E), (F) and (G), the
amount required, if any, such that the amount therein is the Specified Reserve
Amount;

     (I) credit, from such net Total Distribution Amount remaining after the
application of clauses (A), (B), (C), (D), (E), (F), (G) and (H), an amount equal to
(x) the Required Principal Distribution Amount minus (y) the sum of the First
Priority Principal Distribution Amount, the Second Priority Principal Distribution
Amount and the Third Priority Principal Distribution Amount to the Note Principal
Distribution Account;

     (J) allocate to the Hedge Counterparty from such net Total Distribution Amount
remaining after the application of clauses (A), (B), (C), (D), (E), (F), (G), (H)
and (I), an amount equal to the Subordinated Termination Payments, if any, then due
to the Hedge Counterparty under the Hedges; and

     (K) allocate to the Holders of the Class D Notes such net Total Distribution
Amount remaining after the application of clauses (A), (B), (C), (D), (E), (F), (G),
(H), (I) and (J).

For the avoidance of doubt, if payment of the Notes has been accelerated and such declaration of
acceleration has not been rescinded in accordance with the Indenture, then such Total Distribution
Amount shall be applied in accordance with Section 5.04(b) of the Indenture.

     Notwithstanding that the Senior Notes have been paid in full, the Indenture Trustee shall
continue to maintain the Deposit Account hereunder until the Class D Notes are retired.

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     (b) On each Payment Date the amounts credited to the Note Principal Distribution Account shall
be applied in accordance with Section 8.02(c)(v) of the Indenture.

     Section 5.06 Reserve Account. (a) On the Closing Date, the Owner Trustee will
deposit, on behalf of the Seller, the Reserve Account Initial Deposit into the Deposit Account from
the net proceeds of the sale of the Notes which amount shall be allocated to the Reserve Account.

     (b) [RESERVED]

     (c) (i) In the event that the Total Distribution Amount (after the payment of the Servicing
Fee and any previously unpaid Servicing Fees) with respect to any Collection Period is less than
the accrued and unpaid interest on the Senior Notes and any payments due to the Hedge Counterparty
(excluding Hedge termination payments, if any) on a Payment Date, the Servicer shall instruct the
Indenture Trustee to withdraw from the Reserve Account on such Payment Date an amount equal to such
deficiency, to the extent of funds available therein, and allocate such amount for distribution to
the Noteholders of Senior Notes and the Hedge Counterparty, as applicable.

     (ii) In the event that the amount allocated for distribution to the Noteholders pursuant
to Sections 5.05(a)(ii)(C), (E), (G) and (I) is insufficient to make payments of principal
on (A) the Class A-1 Notes so that the Outstanding Amount for the Class A-1 Notes equals
zero on the Class A-1 Final Scheduled Payment Date; (B) the Class A-2a Notes so that the
Outstanding Amount for the Class A-2a Notes equals zero on the Class A-2 Final Scheduled
Payment Date; (C) the Class A-2b Notes so that the Outstanding Amount for the Class A-2b
Notes equals zero on the Class A-2 Final Scheduled Payment Date; (D) the Class A-3a Notes so
that the Outstanding Amount for the Class A-3a Notes equals zero on the Class A-3 Final
Scheduled Payment Date; (E) the Class A-3b Notes so that the Outstanding Amount for the
Class A-3b Notes equals zero on the Class A-3 Final Scheduled Payment Date; (F) the Class
A-4 Notes so that the Outstanding Amount for the Class A-4 Notes equals zero on the Class
A-4 Final Scheduled Payment Date; (G) the Class B Notes so that the Outstanding Amount of
the Class B Notes equals zero on the Class B Final Scheduled Payment Date; or (H) the Class
C Notes so that the Outstanding Amount of the Class C Notes equals zero on the Class C Final
Scheduled Payment Date, the Servicer shall instruct the Indenture Trustee to withdraw from
the Reserve Account on such Class Final Scheduled Payment Date an amount equal to such
deficiency, to the extent of funds available therein, and allocate such amount for
distribution to the related Noteholders in accordance with this Sale and Servicing
Agreement.

     (iii) In the event that the Outstanding Amount of the Senior Notes exceeds the Related
Pool Balance, the Servicer shall instruct the Indenture Trustee to withdraw from the Reserve
Account on the related Payment Date an amount equal to such excess, to the extent of funds
available therein, and allocate such amount for distribution to the Holders of the Senior
Notes.

     (d) Subject to Section 9.01, amounts will continue to be applied pursuant to Section 5.05(a)
following payment in full of the Outstanding Amount of the Senior Notes until the Pool Balance is
reduced to zero. Following the payment in full of the aggregate Outstanding Amount of the Senior
Notes and of all other amounts owing or to be distributed hereunder or under the

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Indenture or the Trust Agreement to the Holders of the Senior Notes and the Hedge Counterparty, any
amount then allocated to the Reserve Account shall be distributed to Holders of the Class D Notes.

     Section 5.07 Statements to Noteholders. On each Payment Date, the Servicer shall make
available via its website to the Owner Trustee, the Hedge Counterparty and the Rating Agencies and
provide to the Indenture Trustee and each Paying Agent a statement substantially in the form of
Exhibit A, setting forth at least the following information as to the Notes, to the extent
applicable:

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

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

     (iii) the amount of such distribution allocable to amounts allocable to the Class D
Notes;

     (iv) the outstanding principal amount of each Class of Notes as of the close of
business on the last day of the preceding Collection Period, after giving effect to payments
allocated to principal reported under clause (i) above;

     (v) the amount of the Servicing Fee paid to the Servicer with respect to the related
Collection Period;

     (vi) the amount allocated to the Reserve Account on such Payment Determination Date
after giving effect to allocations thereto and withdrawals therefrom to be made on the next
following Payment Date, if any;

     (vii) the Pool Balance as of the close of business on the last day of the related
Collection Period; and

     (viii) the net amount, if any, of any payments due under all Hedges (specifying, if
applicable, the amount of any termination payments then due).

     Each amount set forth on the Payment Date statement under clauses (i), (ii) or (iv) above
shall be expressed as a dollar amount per $1,000 of original principal amount of a Note.

     Section 5.08 Net Deposits. As an administrative convenience, unless the Servicer is
required to remit collections daily, the Servicer will be permitted to make the deposit of
collections on the Receivables and Purchase Amounts for the Collection Period net of distributions
to be made to the Servicer with respect to the Collection Period. The Servicer, however, will
account to the Owner Trustee, the Indenture Trustee and the Noteholders as if all deposits,
distributions and transfers were made individually.

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ARTICLE VI

The Seller

     Section 6.01 Representations of Seller. The Seller makes the following
representations on which the Issuer is deemed to have relied in acquiring the Receivables. The
representations speak as of the execution and delivery of this Agreement and as of the Closing
Date, and shall survive the sale of the Receivables to the Issuer and the pledge thereof to the
Indenture Trustee pursuant to the Indenture.

     (a) Organization and Good Standing. The Seller is duly organized and validly
existing as a limited liability company in good standing under the laws of the State of
Michigan, with the power and authority as a limited liability company to own its properties
and to conduct its business as such properties are currently owned and such business is
presently conducted, and had at all relevant times, and has, the power, authority and legal
right to acquire and own the Standard Receivables and the Fixed Value Receivables.

     (b) Due Qualification. The Seller is duly qualified to do business as a
foreign limited liability company in good standing, and has obtained all necessary licenses
and approvals, in all jurisdictions in which the ownership or lease of property or the
conduct of its business shall require such qualifications.

     (c) Power and Authority. The Seller has the power and authority as a limited
liability company to execute and deliver this Agreement and to carry out its terms; the
Seller has full power and authority to sell and assign the property to be sold and assigned
to and deposited with the Issuer, and the Seller shall have duly authorized such sale and
assignment to the Issuer by all necessary action as a limited liability company; and the
execution, delivery and performance of this Agreement has been duly authorized by the Seller
by all necessary action as a limited liability company.

     (d) Binding Obligation. This Agreement constitutes a legal, valid and binding
obligation of the Seller enforceable in accordance with its terms.

     (e) No Violation. The consummation of the transactions contemplated by this
Agreement and the fulfillment of the terms hereof do not conflict with, result in any breach
of any of the terms and provisions of, or constitute (with or without notice or lapse of
time) a default under, the articles of organization or operating agreement of the Seller, or
any indenture, agreement or other instrument to which the Seller is a party or by which it
is bound; or result in the creation or imposition of any Lien upon any of its properties
pursuant to the terms of any such indenture, agreement or other instrument (other than
pursuant to this Agreement and the Basic Documents); or violate any law or, to the best of
the Seller’s knowledge, any order, rule or regulation applicable to the Seller of any court
or of any federal or state regulatory body, administrative agency or other governmental
instrumentality having jurisdiction over the Seller or its properties.

     (f) No Proceedings. To the Seller’s best knowledge, there are no proceedings
or investigations pending or threatened before any court, regulatory body, administrative
agency or other governmental instrumentality having jurisdiction over the Seller or its

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properties:  (i) asserting the invalidity of this Agreement, the Indenture, the Hedges
or any of the other Basic Documents, the Notes or the Certificates, (ii) seeking to prevent
the issuance of the Notes or the Certificates or the consummation of any of the transactions
contemplated by this Agreement, the Indenture, the Hedges or any of the other Basic
Documents, (iii) seeking any determination or ruling that might materially and adversely
affect the performance by the Seller of its obligations under, or the validity or
enforceability of, this Agreement, the Indenture, the Hedges, any of the other Basic
Documents, the Notes or the Certificates or (iv) which might adversely affect the federal or
state income tax attributes of the Notes or the Certificates.

     Section 6.02 Preservation of Existence. During the term of this Agreement, the Seller
will keep in full force and effect its existence and rights as a limited liability company (or
another legal entity) under the laws of the jurisdiction of its organization and will obtain and
preserve its qualification to do business in each jurisdiction in which such qualification is or
shall be necessary to protect the validity and enforceability of this Agreement, the Hedges, the
Basic Documents and each other instrument or agreement necessary or appropriate to the proper
administration of this Agreement and the transactions contemplated hereby. In addition, all
transactions and dealings between the Seller and its Affiliates will be conducted on an
arm’s-length basis.

     Section 6.03 Liability of Seller; Indemnities. The Seller shall be liable in
accordance herewith only to the extent of the obligations specifically undertaken by the Seller
under this Agreement:

     (a) The Seller shall indemnify, defend and hold harmless the Issuer, the Owner Trustee,
the Indenture Trustee, the Company and the Servicer and any of the officers, directors,
employees and agents of the Issuer, the Owner Trustee and the Indenture Trustee from and
against any taxes that may at any time be asserted against any such Person with respect to
the transactions contemplated herein and in the Basic Documents and the Hedges, including
any sales, gross receipts, general corporation, tangible personal property, privilege or
license taxes (but, in the case of the Issuer, not including any taxes asserted with respect
to, and as of the date of, the sale of the Receivables to the Issuer or the issuance and
original sale of the Certificates and the Notes, or asserted with respect to ownership of
the Receivables, or federal or other income taxes arising out of distributions on the
Certificates or the Notes) and costs and expenses in defending against the same.

     (b) The Seller shall indemnify, defend and hold harmless the Issuer, the Owner Trustee,
the Indenture Trustee, the Company, the Certificateholders and the Noteholders and any of
the officers, directors, employees and agents of the Issuer, the Owner Trustee and the
Indenture Trustee from and against any loss, liability or expense incurred by reason of (i)
the Seller’s willful misfeasance, bad faith or negligence in the performance of its duties
under this Agreement, or by reason of reckless disregard of its obligations and duties under
this Agreement and (ii) the Seller’s or the Issuer’s violation of federal or state
securities laws in connection with the offering and sale of the Notes and the Certificates.

     (c) The Seller shall indemnify, defend and hold harmless the Owner Trustee and the
Indenture Trustee and their respective officers, directors, employees and agents

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from and against all costs, expenses, losses, claims, damages and liabilities arising
out of or incurred in connection with the acceptance or performance of the trusts and duties
herein and in the Trust Agreement contained, in the case of the Owner Trustee, and in the
Indenture contained, in the case of the Indenture Trustee, except to the extent that such
cost, expense, loss, claim, damage or liability: (i) in the case of the Owner Trustee, shall
be due to the willful misfeasance, bad faith or negligence (except for errors in judgment)
of the Owner Trustee or, in the case of the Indenture Trustee, shall be due to the willful
misfeasance, bad faith or negligence (except for errors in judgment) of the Indenture
Trustee; or (ii) in the case of the Owner Trustee, shall arise from the breach by the Owner
Trustee of any of its representations or warranties set forth in Section 7.03 of the Trust
Agreement.

     (d) The Seller shall pay any and all taxes levied or assessed upon all or any part of
the Owner Trust Estate.

     Indemnification under this Section shall survive the resignation or removal of the Owner
Trustee or the Indenture Trustee and the termination of this Agreement and shall include reasonable
fees and expenses of counsel and expenses of litigation. If the Seller shall have made any
indemnity payments pursuant to this Section and the Person to or on behalf of whom such payments
are made thereafter shall collect any of such amounts from others, such Person shall promptly repay
such amounts to the Seller, without interest.

     Section 6.04 Merger or Consolidation of, or Assumption of Obligations of, Seller. Any
Person (a) into which the Seller may be merged or consolidated, (b) which may result from any
merger or consolidation to which the Seller shall be a party or (c) which may succeed to the
properties and assets of the Seller substantially as a whole, which Person in any of the foregoing
cases executes an agreement of assumption to perform every obligation of the Seller under this
Agreement, shall be the successor to the Seller hereunder without the execution or filing of any
document or any further act by any of the parties to this Agreement; provided, however, that
(i) immediately after giving effect to such transaction, no representation or warranty made
pursuant to Section 3.01 shall have been breached and no Servicer Default, and no event that, after
notice or lapse of time, or both, would become a Servicer Default shall have occurred and be
continuing, (ii) the Seller shall have delivered to the Owner Trustee and the Indenture Trustee 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, (iii) the Rating Agency Condition shall have been satisfied with respect to such transaction
and (iv) the Seller shall have delivered to the Owner Trustee and the Indenture Trustee an Opinion
of Counsel either (A) stating that, in the opinion of such counsel, all financing statements and
continuation statements and amendments thereto have been executed and filed that are necessary
fully to preserve and protect the interest of the Owner Trustee and Indenture Trustee,
respectively, in the Receivables and reciting the details of such filings, or (B) stating that, in
the opinion of such counsel, no such action shall be necessary to preserve and protect such
interests. Notwithstanding anything herein to the contrary, the execution of the foregoing
agreement of assumption and compliance with clauses (i), (ii), (iii) and (iv) above shall be
conditions to the consummation of the transactions referred to in clauses (a), (b) or (c) above.

     Section 6.05 Limitation on Liability of Seller and Others. The Seller and any
director, officer, employee or agent of the Seller may rely in good faith on the advice of counsel
or on any

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document of any kind, prima facie properly executed and submitted by any Person respecting any
matters arising hereunder. The Seller shall not be under any obligation to appear in, prosecute or
defend any legal action that shall not be incidental to its obligations under this Agreement, and
that in its opinion may involve it in any expense or liability.

     Section 6.06 Seller May Own Notes. The Seller and any Affiliate thereof may in its
individual or any other capacity become the owner or pledgee of Notes with the same rights as it
would have if it were not the Seller or an Affiliate thereof, except as expressly provided herein
or in any Basic Document. The Seller shall not own any Notes unless the Rating Agency Condition is
satisfied.

ARTICLE VII

The Servicer

     Section 7.01 Representations of Servicer. The Servicer makes the following
representations on which the Issuer is deemed to have relied in acquiring the Receivables. The
representations speak as of the execution and delivery of this Agreement and as of the Closing
Date, and shall survive the sale of the Receivables to the Issuer and the pledge thereof to the
Indenture Trustee pursuant to the Indenture.

     (a) Organization and Good Standing. The Servicer is duly organized and validly
existing as a limited liability company in good standing under the laws of the state of its
formation, with the power and authority as a limited liability company to own its properties
and to conduct its business as such properties are currently owned and such business is
presently conducted, and had at all relevant times, and has, the power, authority and legal
right to acquire, own, sell and service the Standard Receivables and the Fixed Value
Receivables and to hold the Receivable Files as custodian.

     (b) Due Qualification. The Servicer is duly qualified to do business as a
foreign limited liability company in good standing, and has obtained all necessary licenses
and approvals, in all jurisdictions in which the ownership or lease of property or the
conduct of its business (including the servicing of the Standard Receivables and the Fixed
Value Receivables as required by this Agreement) shall require such qualifications.

     (c) Power and Authority. The Servicer has the power and authority as a limited
liability company to execute and deliver this Agreement and to carry out its terms; and the
execution, delivery and performance of this Agreement has been duly authorized by the
Servicer by all necessary action as a limited liability company.

     (d) Binding Obligation. This Agreement constitutes a legal, valid and binding
obligation of the Servicer enforceable in accordance with its terms.

     (e) No Violation. The consummation of the transactions contemplated by this
Agreement and the fulfillment of the terms hereof shall not conflict with, result in any
breach of any of the terms and provisions of, or constitute (with or without notice or lapse
of time) a default under, the articles of organization or operating agreement of the
Servicer, or any indenture, agreement or other instrument to which the Servicer is a party
or by which it is bound; or result in the creation or imposition of any Lien upon any of its

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properties pursuant to the terms of any such indenture, agreement or other instrument
(other than this Agreement); or violate any law or, to the best of the Servicer’s knowledge,
any order, rule or regulation applicable to the Servicer of any court or of any federal or
state regulatory body, administrative agency or other governmental instrumentality having
jurisdiction over the Servicer or its properties.

     (f) No Proceedings. To the Servicer’s best knowledge, there are no proceedings
or investigations pending or threatened before any court, regulatory body, administrative
agency or other governmental instrumentality having jurisdiction over the Servicer or its
properties: (i) asserting the invalidity of this Agreement, the Indenture, the Hedges, any
of the other Basic Documents or the Notes, (ii) seeking to prevent the issuance of the Notes
or the consummation of any of the transactions contemplated by this Agreement, the
Indenture, the Hedges or any of the other Basic Documents, (iii) seeking any determination
or ruling that might materially and adversely affect the performance by the Servicer of its
obligations under, or the validity or enforceability of, this Agreement, the Indenture, the
Hedges, any of the other Basic Documents or the Notes or (iv) relating to the Servicer and
which might adversely affect the federal or state income tax attributes of the Notes.

     (g) No Insolvent Obligors. As of the related Cutoff Date, no Obligor on a
Standard Receivable or Fixed Value Receivable is shown on the Receivable Files as the
subject of a bankruptcy proceeding.

     Section 7.02 Indemnities of Servicer. The Servicer shall be liable in accordance
herewith only to the extent of the obligations specifically undertaken by the Servicer under this
Agreement:

     (a) The Servicer shall indemnify, defend and hold harmless the Issuer, the Owner
Trustee, the Indenture Trustee, the Noteholders, the Certificateholders and the Seller and
any of the officers, directors, employees and agents of the Issuer, the Owner Trustee and
the Indenture Trustee from and against any and all costs, expenses, losses, damages, claims
and liabilities arising out of or resulting from the use, ownership or operation by the
Servicer or any Affiliate thereof of a Financed Vehicle.

     (b) The Servicer shall indemnify, defend and hold harmless the Issuer, the Owner
Trustee, the Indenture Trustee, the Seller, the Certificateholders and the Noteholders and
any of the officers, directors, employees and agents of the Issuer, the Owner Trustee and
the Indenture Trustee from and against any and all costs, expenses, losses, claims, damages
and liabilities to the extent that such cost, expense, loss, claim, damage or liability
arose out of, or was imposed upon any such Person through, the negligence, willful
misfeasance or bad faith of the Servicer in the performance of its duties under this
Agreement or by reason of reckless disregard of its obligations and duties under this
Agreement.

     For purposes of this Section, in the event of the termination of the rights and obligations of
DCFS (or any successor thereto pursuant to Section 7.03) as Servicer pursuant to Section 8.01, or a
resignation by such Servicer pursuant to this Agreement, such Servicer shall be deemed to be the
Servicer pending appointment of a successor Servicer (other than the Indenture Trustee) pursuant to
Section 8.02.

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     Indemnification under this Section shall survive the resignation or removal of the Owner
Trustee or the Indenture Trustee or the termination of this Agreement and shall include reasonable
fees and expenses of counsel and expenses of litigation. If the Servicer shall have made any
indemnity payments pursuant to this Section and the Person to or on behalf of whom such payments
are made thereafter collects any of such amounts from others, such Person shall promptly repay such
amounts to the Servicer, without interest.

     Section 7.03 Merger or Consolidation of, or Assumption of Obligations of, Servicer.
Any Person (a) into which the Servicer may be merged or consolidated, (b) which may result from any
merger or consolidation to which the Servicer shall be a party, (c) which may succeed to the
properties and assets of the Servicer substantially as a whole or (d) with respect to the
Servicer’s obligations hereunder, which is a legal entity 50% or more of the voting power of which
is owned, directly or indirectly, by Chrysler Holding LLC or an affiliate of or successor to
Chrysler Holding LLC or an affiliate of such successor, which Person executed an agreement of
assumption to perform every obligation of the Servicer hereunder, shall be the successor to the
Servicer under this Agreement without further act on the part of any of the parties to this
Agreement; provided, however, that (i) immediately after giving effect to such transaction, no
Servicer Default and no event which, after notice or lapse of time, or both, would become a
Servicer Default shall have occurred and be continuing, (ii) the Servicer shall have delivered to
the Owner Trustee and the Indenture Trustee 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 provided for in this Agreement relating to such
transaction have been complied with, (iii) the Rating Agency Condition shall have been satisfied
with respect to such transaction, (iv) immediately after giving effect to such transaction, the
successor to the Servicer shall become the Administrator under the Administration Agreement in
accordance with Section 8 of such agreement and (v) the Servicer shall have delivered to the Owner
Trustee and the Indenture Trustee an Opinion of Counsel stating that, in the opinion of such
counsel, either (A) all financing statements and continuation statements and amendments thereto
have been executed and filed that are necessary fully to preserve and protect the interest of the
Owner Trustee and the Indenture Trustee, respectively, in the Receivables and reciting the details
of such filings or (B) no such action shall be necessary to preserve and protect such interests.
Notwithstanding anything herein to the contrary, the execution of the foregoing agreement of
assumption and compliance with clauses (i), (ii), (iii), (iv) and (v) above shall be conditions to
the consummation of the transactions referred to in clause (a), (b) or (c) above. The Servicer
shall provide the Seller in writing such information as reasonably requested by the Seller to
comply with its Exchange Act reporting obligations with respect to a successor Servicer.

     Section 7.04 Limitation on Liability of Servicer and Others. Neither the Servicer nor
any of the managers, officers, employees or agents of the Servicer shall be under any liability to
the Issuer, the Noteholders or the Certificateholders, except as provided under this Agreement, for
any action taken or for refraining from the taking of any action pursuant to this Agreement or for
errors in judgment; provided, however, that this provision shall not protect the Servicer or any
such Person against any liability that would otherwise be imposed by reason of willful misfeasance,
bad faith or negligence in the performance of duties or by reason of reckless disregard of
obligations and duties under this Agreement. The Servicer and any manager, officer, employee or
agent of the Servicer may rely in good faith on any document of any kind

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prima facie properly executed and submitted by any person respecting any matters arising under
this Agreement.

     Except as provided in this Agreement, the Servicer shall not be under any obligation to appear
in, prosecute or defend any legal action that shall not be incidental to its duties to service the
Receivables in accordance with this Agreement and that in its opinion may involve it in any expense
or liability; provided, however, that the Servicer may undertake any reasonable action that it may
deem necessary or desirable in respect of this Agreement, the Hedges and the Basic Documents and
the rights and duties of the parties to this Agreement, the Hedges and the Basic Documents and the
interests of the Noteholders and the Certificateholders under this Agreement, the Hedges and the
Basic Documents.

     Section 7.05 DCFS Not to Resign as Servicer. Subject to the provisions of
Section 7.03, DCFS shall not resign from the obligations and duties hereby imposed on it as
Servicer under this Agreement except upon a determination that the performance of its duties under
this Agreement shall no longer be permissible under applicable law and cannot be cured. Notice of
any such determination permitting the resignation of DCFS shall be communicated to the Owner
Trustee and the Indenture Trustee at the earliest practicable time (and, if such communication is
not in writing, shall be confirmed in writing at the earliest practicable time) and any such
determination shall be evidenced by an Opinion of Counsel to such effect delivered to the Owner
Trustee and the Indenture Trustee concurrently with or promptly after such notice. No such
resignation shall become effective until the Indenture Trustee or a successor Servicer shall
(i) have assumed the responsibilities and obligations of DCFS in accordance with Section 8.02,
(ii) have become the Administrator under the Administration Agreement in accordance with Section 8
of such Agreement and (iii) have provided in writing the information reasonably requested by the
Seller to comply with its reporting obligations under the Exchange Act with respect to a successor
Servicer.

ARTICLE VIII

Default

     Section 8.01 Servicer Default. If any one of the following events (a “Servicer
Default”) shall occur and be continuing:

     (a) any failure by the Servicer to deposit in the Deposit Account any required payment
or to direct the Indenture Trustee to make any required distributions therefrom, which
failure continues unremedied for a period of five Business Days after written notice of such
failure is received by the Servicer from the Owner Trustee or the Indenture Trustee or after
discovery of such failure by an officer of the Servicer; or

     (b) failure by the Servicer or the Seller, as the case may be, duly to observe or to
perform in any material respect any other covenants or agreements of the Servicer or the
Seller (as the case may be) set forth in this Agreement or any other Basic Document, which
failure shall (i) materially and adversely affect the rights of Certificateholders or
Noteholders and (ii) continue unremedied for a period of 60 days after the date on which
written notice of such failure, requiring the same to be remedied, shall have been given to
the Servicer or the Seller (as the case may be) (A) by the Owner Trustee or the Indenture
Trustee or (B)  to the Servicer or the Seller (as the case may be) and the Indenture Trustee

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by the Holders of Notes, evidencing not less than 25% of the Outstanding Amount of the
Notes, or if the Notes are no longer Outstanding, Certificateholders of Certificates
evidencing Percentage Interests aggregating not less than 25% of the Certificates; or

     (c) the occurrence of an Insolvency Event with respect to the Seller, the Servicer or
Chrysler Residual Holdco LLC;

then, and in each and every case, so long as the Servicer Default shall not have been remedied,
either the Indenture Trustee or the Holders of Notes evidencing not less than a majority of the
Outstanding Amount of the Notes, by notice then given in writing to the Servicer (and to the
Indenture Trustee and the Owner Trustee if given by the Noteholders) may terminate all the rights
and obligations (other than the obligations set forth in Section 7.02 hereof) of the Servicer under
this Agreement. On or after the receipt by the Servicer of such written notice, all authority and
power of the Servicer under this Agreement, whether with respect to the Notes, the Receivables or
otherwise, shall, without further action, pass to and be vested in the Indenture Trustee or such
successor Servicer as may be appointed under Section 8.02; and, without limitation, the Indenture
Trustee and the Owner Trustee are hereby authorized and empowered to execute and deliver, for the
benefit of the predecessor Servicer, as attorney-in-fact or otherwise, any and all documents and
other instruments, and to do or accomplish all other acts or things necessary or appropriate to
effect the purposes of such notice of termination, whether to complete the transfer and endorsement
of the Receivables and related documents, or otherwise. The predecessor Servicer shall cooperate
with the successor Servicer, the Indenture Trustee and the Owner Trustee in effecting the
termination of the responsibilities and rights of the predecessor Servicer under this Agreement,
including the transfer to the successor Servicer for administration by it of all cash amounts that
shall at the time be held by the predecessor Servicer for deposit, or shall thereafter be received
by it with respect to any Receivable. All reasonable costs and expenses (including attorneys’
fees) incurred in connection with transferring the Receivable Files to the successor Servicer and
amending this Agreement to reflect such succession as Servicer pursuant to this Section shall be
paid by the predecessor Servicer upon presentation of reasonable documentation of such costs and
expenses. Any successor Servicer (including the Indenture Trustee as successor Servicer) shall
provide the Seller in writing with such information as is reasonably requested by the Seller to
comply with its reporting obligations under the Exchange Act with respect to such Servicer. Upon
receipt of notice of the occurrence of a Servicer Default, the Owner Trustee shall give notice
thereof to the Rating Agencies.

     Section 8.02 Appointment of Successor. (a) Upon the Servicer’s receipt of notice of
termination pursuant to Section 8.01 or the Servicer’s resignation in accordance with the terms of
this Agreement, the predecessor Servicer shall continue to perform its functions as Servicer under
this Agreement, in the case of termination, only until the date specified in such termination
notice or, if no such date is specified in a notice of termination, until receipt of such notice
and, in the case of resignation, until the later of (i) the date 45 days from the delivery to the
Owner Trustee and the Indenture Trustee of written notice of such resignation (or written
confirmation of such notice) in accordance with the terms of this Agreement and (ii) the date upon
which the predecessor Servicer shall become unable to act as Servicer, as specified in the notice
of resignation and accompanying Opinion of Counsel. In the event of the Servicer’s termination
hereunder, the Indenture Trustee shall appoint a successor Servicer, and the successor Servicer
shall accept its appointment (including its appointment as Administrator under the Administration
Agreement as set forth in Section 8(b)) by a written assumption in form acceptable to the Owner
Trustee and the Indenture Trustee. In the event that a successor

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Servicer has not been appointed at the time when the predecessor Servicer has ceased to act as
Servicer in accordance with this Section, the Indenture Trustee without further action shall
automatically be appointed the successor Servicer and the Indenture Trustee shall be entitled to
the Servicing Fee. Notwithstanding the above, the Indenture Trustee shall, if it shall be
unwilling or legally unable so to act, appoint or petition a court of competent jurisdiction to
appoint any established institution, having a net worth of not less than $100,000,000 and whose
regular business shall include the servicing of automotive receivables, as the successor to the
Servicer under this Agreement.

     (b) Upon appointment, the successor Servicer (including the Indenture Trustee acting as
successor Servicer) shall (i) be the successor in all respects to the predecessor Servicer and
shall be subject to all the responsibilities, duties and liabilities arising thereafter relating
thereto placed on the predecessor Servicer and shall be entitled to the Servicing Fee and all the
rights granted to the predecessor Servicer by the terms and provisions of this Agreement and
(ii) become the Administrator under the Administration Agreement in accordance with Section 8 of
the Administration Agreement.

     (c) The Servicer may not resign unless it is prohibited from serving as such by law.

     Section 8.03 Notification to Noteholders and Certificateholders. Upon any termination
of, or appointment of a successor to, the Servicer pursuant to this Article VIII, the Owner Trustee
shall give prompt written notice thereof to Certificateholders, and the Indenture Trustee shall
give prompt written notice thereof to Noteholders and the Rating Agencies.

     Section 8.04 Waiver of Past Defaults. The Holders of Senior Notes evidencing not less
than a majority of the Outstanding Amount of the Senior Notes or, if the Senior Notes are no longer
Outstanding, the Holders (as defined in the Trust Agreement) of Class D Notes evidencing not less
than a majority of the Class D Stated Principal Amount, or if the Notes are no longer Outstanding,
Certificateholders of Certificates evidencing not less than a majority of the Percentage Interests
of the Certificates, may, on behalf of all Noteholders, the Holders of the Class D Notes or the
Certificateholders, as the case may be, waive in writing any default by the Servicer in the
performance of its obligations hereunder and its consequences, except a default in making any
required allocations or distributions from the Deposit Account in accordance with this Agreement.
Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Default
arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No
such waiver shall extend to any subsequent or other default or impair any right consequent thereto.

ARTICLE IX

Termination

     Section 9.01 Optional Purchase of All Receivables. (a) As of the last day of any
Collection Period as of which the then outstanding Pool Balance is 10% or less of the Original Pool
Balance and the Class A-1 Notes, Class A-2 Notes and Class A-3 Notes have been paid in full or will
be paid in full on the next Payment Date, the Servicer shall have the option to purchase the Owner
Trust Estate, other than the Deposit Account. To exercise such option, the Servicer shall deposit
pursuant to Section 5.04 in the Deposit Account an amount equal to the aggregate Purchase Amount
for the Receivables (including defaulted Receivables), plus the

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appraised value of any such other property held by the Trust other than the Deposit Account,
such value to be determined by an appraiser mutually agreed upon by the Servicer, the Owner Trustee
and the Indenture Trustee, and the Servicer shall succeed to all interests in and to the Trust.
Notwithstanding the foregoing, the Servicer shall not be permitted to exercise such option unless
the amount to be deposited in the Deposit Account pursuant to the preceding sentence, together with
any other funds in the Deposit Account, is greater than or equal to the sum of the outstanding
principal amount of the Notes and all accrued but unpaid interest (including any overdue interest
and premium) thereon.

     (b) Notice of the exercise of the option in Section 9.01(a) shall be given by the Servicer to
the Owner Trustee and the Indenture Trustee on or prior to the last day of the Collection Period
referred to in Section 9.01(a).

ARTICLE X

Miscellaneous

     Section 10.01 Amendment. This Agreement may be amended by the Seller, the Servicer
and the Issuer, with the consent of the Indenture Trustee, but without the consent of any of the
Noteholders or the Certificateholders, to cure any ambiguity, to correct or supplement any
provisions in this Agreement or for the purpose of adding any provisions to or changing in any
manner or eliminating any of the provisions in this Agreement (including for the issuance of Fixed
Value Securities pursuant to Section 2.03) or of modifying in any manner the rights of the
Noteholders or the Certificateholders; provided, however, that such action shall not, as evidenced
by an Opinion of Counsel delivered to the Owner Trustee and the Indenture Trustee, adversely affect
in any material respect the interests of any Noteholder or Certificateholder.

     This Agreement may also be amended from time to time by the Seller, the Servicer and the
Issuer, with the consent of the Indenture Trustee, the consent of the Holders of Notes evidencing
not less than a majority of the Outstanding Amount of the Notes and the consent of
Certificateholders of outstanding Certificates evidencing not less than a majority of the
Percentage Interests of the Certificates for the purpose of adding any provisions to or changing in
any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the
rights of the Noteholders or the Certificateholders; provided, however, that no such amendment
shall (a) increase or reduce in any manner the amount of, or accelerate or delay the timing of,
collections of payments on the Receivables or distributions that shall be required to be made for
the benefit of the Noteholders or the Certificateholders or (b) reduce the aforesaid percentage of
the Outstanding Amount of the Notes or Percentage Interests of the Certificates, the Holders of
which are required to consent to any such amendment, without the consent of the Holders of all the
outstanding Notes and the Certificateholders of all the outstanding Certificates.

     Prior to the execution of any such amendment the Servicer will provide written notification of
the substance of such amendment to each of the Rating Agencies.

     Promptly after the execution of any such amendment or consent pursuant to either of the two
preceding paragraphs, the Owner Trustee shall furnish written notification of the substance of such
amendment or consent to each Certificateholder, the Indenture Trustee and each of the Rating
Agencies.

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     It shall not be necessary for the consent of the Certificateholders or Noteholders pursuant to
this Section to approve the particular form of any proposed amendment or consent, but it shall be
sufficient if such consent shall approve the substance thereof.

     Prior to the execution of any amendment to this Agreement, the Owner Trustee and the Indenture
Trustee shall be entitled to receive and rely upon an Opinion of Counsel stating that the execution
of such amendment is authorized or permitted by this Agreement and the Opinion of Counsel referred
to in Section 10.02(i)(1). The Owner Trustee and the Indenture Trustee may, but shall not be
obligated to, enter into any such amendment which affects the Owner Trustee’s or the Indenture
Trustee’s, as applicable, own rights, duties or immunities under this Agreement or otherwise.

     Section 10.02 Protection of Title to Trust. (a) The Seller shall file such financing
statements and cause to be filed such continuation statements, all in such manner and in such
places as may be required by law fully to preserve, maintain and protect the interest of the Issuer
and of the Indenture Trustee in the Receivables and in the proceeds thereof. The Seller shall
deliver (or cause to be delivered) to the Owner Trustee and the Indenture Trustee file-stamped
copies of, or filing receipts for, any document filed as provided above, as soon as available
following such filing.

     (b) Neither the Seller nor the Servicer shall change its name, identity or corporate structure
in any manner that would, could or might make any financing statement or continuation statement
filed in accordance with paragraph (a) above seriously misleading within the meaning of § 9-506 of
the UCC, unless it shall have given the Owner Trustee and the Indenture Trustee at least five days’
prior written notice thereof and shall have promptly filed appropriate amendments to all previously
filed financing statements or continuation statements.

     (c) Each of the Seller and the Servicer shall have an obligation to give the Owner Trustee and
the Indenture Trustee at least 60 days’ prior written notice of any change in the jurisdiction in
which it is organized if, as a result of such change, the applicable provisions of the UCC would
require the filing of any amendment of any previously filed financing or continuation statement or
of any new financing statement and shall promptly file any such amendment or new financing
statement. The Servicer shall at all times maintain each office from which it shall service
Receivables, and its principal executive office, within the United States of America.

     (d) The Servicer shall maintain accounts and records as to each Standard Receivable and each
Fixed Value Receivable accurately and in sufficient detail to permit (i) the reader thereof to know
at any time the status of such Standard Receivable or Fixed Value Receivable, including payments
and recoveries made and payments owing (and the nature of each) and (ii) reconciliation between
payments or recoveries on (or with respect to) each Standard Receivable or Fixed Value Receivable
and the amounts from time to time deposited in the Deposit Account in respect of such Standard
Receivable or Fixed Value Receivable.

     (e) The Servicer shall maintain its computer systems so that, from and after the time of sale
under this Agreement of the Standard Receivables and the Fixed Value Receivables, the Servicer’s
master computer records (including any backup archives) that refer to a Standard Receivable or
Fixed Value Receivable shall indicate clearly the interest of the Issuer and the Indenture Trustee
in such Standard Receivable or Fixed Value Receivable and that such Standard

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Receivable or Fixed Value Receivable is owned by the Issuer and has been pledged to the
Indenture Trustee. Indication of the Issuer’s and the Indenture Trustee’s interest in a Standard
Receivable or Fixed Value Receivable shall be deleted from or modified on the Servicer’s computer
systems when, and only when, the related Receivable shall have been paid in full or repurchased.

     (f) If at any time the Seller or the Servicer shall propose to sell, grant a security interest
in, or otherwise transfer any interest in automotive receivables to any prospective purchaser,
lender or other transferee, the Servicer shall give to such prospective purchaser, lender or other
transferee computer tapes, records or printouts (including any restored from backup archives) that,
if they shall refer in any manner whatsoever to any Standard Receivable or Fixed Value Receivable,
shall indicate clearly that such Standard Receivable or Fixed Value Receivable has been sold and is
owned by the Issuer and has been pledged to the Indenture Trustee.

     (g) The Servicer shall permit the Indenture Trustee and its agents at any time during normal
business hours to inspect, audit and make copies of and abstracts from the Servicer’s records
regarding any Standard Receivable or Fixed Value Receivable.

     (h) Upon request, the Servicer shall furnish to the Owner Trustee or to the Indenture Trustee,
within five Business Days, a list of all Receivables (by contract number and name of Obligor) then
held as part of the Trust, together with a reconciliation of such list to the Schedule of
Receivables and to each of the Servicer’s Certificates furnished before such request indicating
removal of Receivables from the Trust.

     (i) The Servicer shall deliver to the Owner Trustee and the Indenture Trustee:

     (1) promptly after the execution and delivery of this Agreement and of each amendment
hereto, an Opinion of Counsel stating that, in the opinion of such counsel, either (A) all
financing statements and continuation statements have been filed that are necessary fully to
preserve and protect the interest of the Owner Trustee and the Indenture Trustee in the
Receivables, and reciting the details of such filings or referring to prior Opinions of
Counsel in which such details are given, or (B) no such action shall be necessary to
preserve and protect such interest; and

     (2) within 90 days after the beginning of each calendar year beginning with the first
calendar year beginning more than three months after the Cutoff Date, an Opinion of Counsel,
dated as of a date during such 90-day period, stating that, in the opinion of such counsel,
either (A) all financing statements and continuation statements have been filed that are
necessary fully to preserve and protect the interest of the Owner Trustee and the Indenture
Trustee in the Receivables, and reciting the details of such filings or referring to prior
Opinions of Counsel in which such details are given, or (B) no such action shall be
necessary to preserve and protect such interest.

Each Opinion of Counsel referred to in clause (1) or (2) above shall specify any action necessary
(as of the date of such opinion) to be taken in the following year to preserve and protect such
interest.

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     (j) The Seller shall, to the extent required by applicable law, cause the Notes to be
registered with the Commission pursuant to Section 12(b) or Section 12(g) of the Exchange Act
within the time periods specified in such sections.

     Section 10.03 Notices. All demands, notices, communications and instructions upon or
to the Seller, the Servicer, the Owner Trustee, the Indenture Trustee or the Rating Agencies under
this Agreement shall be in writing, personally delivered, electronically delivered or mailed by
certified mail, return receipt requested, and shall be deemed to have been duly given upon receipt
(a) in the case of the Seller or the Servicer, to DaimlerChrysler Financial Services Americas LLC,
27777 Inkster Road, Farmington Hills, Michigan 48334, Attention of Assistant Secretary ((248) 427-
2551), (b) in the case of the Issuer or the Owner Trustee, at the Corporate Trust Office (as
defined in the Trust Agreement), (c) in the case of the Indenture Trustee, at the Corporate Trust
Office, (d) in the case of Fitch, to Fitch, Inc., One State Street Plaza, Attention: Auto ABS
Group, New York, N.Y. 10004, Attention of Structured Finance Asset Backed Securities, (e) in the
case of Standard & Poor’s, via electronic delivery to Servicer_reports@sandp.com, or if not
available in electronic format, to Standard & Poor’s Ratings Services, a division of The
McGraw-Hill Companies, Inc., 55 Water Street, New York, New York 10004, Attention of Asset Backed
Surveillance Department (f) in the case of Moody’s to 25th Floor, 7 World Trade Center,
250 Greenwich Street, New York, New York 10007, Attention: ABS/RMBS Monitoring Department, and (g)
in the case of DBRS, via electronic delivery to abs_surveillance@dbrs.com, or if not available in
electronic format, to DBRS, Inc, 55 Broadway, New York, New York 10006; or, as to each of the
foregoing, at such other address as shall be designated by written notice to the other parties.

     Section 10.04 Assignment by the Seller or the Servicer. Notwithstanding anything to
the contrary contained herein, except as provided in the remainder of this Section, as provided in
Sections 6.04 and 7.03 herein and as provided in the provisions of this Agreement concerning the
resignation of the Servicer, this Agreement may not be assigned by the Seller or the Servicer. The
Issuer and the Servicer hereby acknowledge and consent to the conveyance and assignment (i) by the
Seller to the Company pursuant to the Purchase Agreement and (ii) by the Company to a limited
liability company or other Person (provided that conveyance and assignment is made in accordance
with Section 5.06 of the Purchase Agreement), of any and all of the Seller’s rights and interests
(and corresponding obligations, if any) hereunder with respect to receiving amounts from the
Reserve Account and with respect to receiving and conveying any Fixed Value Payments, and the
Issuer and the Servicer hereby agree that the Company, and any such assignee of the Company, shall
be entitled to enforce such rights and interests directly against the Issuer as if the Company, or
such assignee of the Company, were itself a party to this Agreement.

     Section 10.05 Limitations on Rights of Others. The provisions of this Agreement are
solely for the benefit of the Seller, the Company (and any assignee of the Company pursuant to
Section 10.04), the Servicer, the Issuer, the Owner Trustee, the Certificateholders, the Indenture
Trustee and the Noteholders, and nothing in this Agreement, whether express or implied, shall be
construed to give to any other Person any legal or equitable right, remedy or claim in the Owner
Trust Estate or under or in respect of this Agreement or any covenants, conditions or provisions
contained herein.

     Section 10.06 Severability. Any provision of this Agreement that is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining provisions hereof, and any

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such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

     Section 10.07 Separate Counterparts. This Agreement may be executed by the parties
hereto in separate counterparts, each of which when so executed and delivered shall be an original,
but all such counterparts shall together constitute but one and the same instrument.

     Section 10.08 Headings. The headings of the various Articles and Sections herein are
for convenience of reference only and shall not define or limit any of the terms or provisions
hereof.

     Section 10.09 Governing Law. THIS AGREEMENT, THE RIGHTS AND OBLIGATIONS OF THE
PARTIES UNDER THIS AGREEMENT AND ANY CLAIM OR CONTROVERSY DIRECTLY OR INDIRECTLY BASED UPON OR
ARISING OUT OF THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT (WHETHER BASED ON
CONTRACT, TORT OR ANY OTHER THEORY), INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND
PERFORMANCE, SHALL IN ALL RESPECTS BE GOVERNED BY AND INTERPRETED, CONSTRUED AND DETERMINED IN
ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO ANY CONFLICTS OF LAW
PROVISION THAT WOULD REQUIRE THE APPLICATION OF THE LAW OF ANY OTHER JURISDICTION).

     Section 10.10 Assignment by Issuer. The Seller hereby acknowledges and consents to
any mortgage, pledge, assignment and grant of a security interest by the Issuer to the Indenture
Trustee pursuant to the Indenture for the benefit of the Noteholders and the Hedge Counterparty of
all right, title and interest of the Issuer in, to and under the Receivables and/or the assignment
of any or all of the Issuer’s rights and obligations hereunder to the Indenture Trustee.

     Section 10.11 Nonpetition Covenants. (a) Notwithstanding any prior termination of
this Agreement, the Servicer and the Seller shall not, prior to the date which is one year and one
day after the termination of this Agreement with respect to the Issuer or the Company, acquiesce,
petition or otherwise invoke or cause the Issuer or the Company (or any assignee of the Company
pursuant to Section 10.04) to invoke the process of any court or government authority for the
purpose of commencing or sustaining a case against the Issuer or the Company (or any assignee of
the Company pursuant to Section 10.04) under any federal or state bankruptcy, insolvency or similar
law, or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other
similar official of the Issuer or the Company (or any assignee of the Company pursuant to Section
10.04) or any substantial part of its property, or ordering the winding up or liquidation of the
affairs of the Issuer or the Company (or any assignee of the Company pursuant to Section 10.04).

     (b) Notwithstanding any prior termination of this Agreement, the Servicer shall not, prior to
the date which is one year and one day after the termination of this Agreement with respect to the
Seller, acquiesce, petition or otherwise invoke or cause the Seller to invoke the process of any
court or government authority for the purpose of commencing or sustaining a case against the Seller
under any federal or state bankruptcy, insolvency or similar law, or appointing a receiver,
liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Seller or
any substantial part of its property, or ordering the winding up or liquidation of the affairs of
the Seller.

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     Section 10.12 Limitation of Liability of Owner Trustee and Indenture Trustee.
(a)Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned
by BNYM (Delaware), not in its individual capacity but solely in its capacity as Owner Trustee of
the Issuer and in no event shall BNYM (Delaware), in its individual capacity or, except as
expressly provided in the Trust Agreement, as beneficial owner of the Issuer have any liability for
the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder
or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which
recourse shall be had solely to the assets of the Issuer. For all purposes of this Agreement, in
the performance of its duties or obligations hereunder or in the performance of any duties or
obligations of the Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the
benefits of, the terms and provisions of Articles VI, VII and VIII of the Trust Agreement.

     (b) Notwithstanding anything contained herein to the contrary, this Agreement has been
accepted by Deutsche Bank Trust Company Americas, not in its individual capacity but solely as
Indenture Trustee and in no event shall Deutsche Bank Trust Company Americas have any liability for
the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder
or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which
recourse shall be had solely to the assets of the Issuer.

ARTICLE XI

Exchange Act Reporting

     Section 11.01 Further Assurances. The Indenture Trustee, the Owner Trustee and the
Servicer shall reasonably cooperate with the Seller in connection with the satisfaction of the
Seller’s reporting requirements under the Exchange Act with respect to the Issuer. The Seller
shall not exercise its right to request delivery of information or other performance under these
provisions other than in good faith. In addition to the information specified below, if so
requested by the Seller for the purpose of satisfying its reporting obligation under the Exchange
Act, the Indenture Trustee, the Owner Trustee and the Servicer shall provide the Seller with
(a) such information which is available to such Person without unreasonable effort or expense and
within such timeframe as may be reasonably requested by the Seller to comply with the Seller’s
reporting obligations under the Exchange Act and (b) to the extent such Person is a party (and the
Seller is not a party) to any agreement or amendment required to be filed, copies of such agreement
or amendment in EDGAR-compatible form. Each of the Servicer, the Indenture Trustee and the Owner
Trustee acknowledges that interpretations of the requirements of Regulation AB may change over
time, whether due to interpretive guidance provided by the Commission or its staff, consensus among
participants in the asset-backed securities markets, advice of counsel, or otherwise, and agrees to
comply with reasonable requests made by the Seller in good faith for delivery of information under
these provisions on the basis of evolving interpretations of Regulation AB.

     Section 11.02 Form 10-D Filings. For so long as the Seller is required to file
Exchange Act Reports with respect to the Issuer, no later than each Payment Date, each of the
Indenture Trustee, the Owner Trustee and the Servicer shall notify (and the Servicer shall cause
any subservicer to notify) the Seller of any Form 10-D Disclosure Item with respect to such Person,
together with a description of any such Form 10-D Disclosure Item in form and substance reasonably
acceptable to the Seller. In addition to such information as the Servicer is

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obligated to provide pursuant to other provisions of this Agreement, if so requested by the
Seller, the Servicer shall provide such information which is available to the Servicer, without
unreasonable effort or expense regarding the performance or servicing of the Receivables as is
reasonably required to facilitate preparation of distribution reports in accordance with Item 1121
of Regulation AB. Such information shall be provided concurrently with the Statements to
Noteholders pursuant to Section 5.07, commencing with the first such report due not less than five
Business Days following such request.

     Section 11.03 Form 8-K Filings. For so long as the Seller is required to file
Exchange Act Reports with respect to the Issuer, each of the Indenture Trustee, the Owner Trustee
and the Servicer shall promptly notify the Seller, but in no event later than one (1) Business Day
after its occurrence, of any Reportable Event (in the case of the Owner Trustee, only an event in
clause (d) of the definition of “Reportable Event”) of which such Person (or in the case of the
Owner Trustee and the Indenture Trustee, a Responsible Officer of such Person) has actual
knowledge. Each Person shall have actual knowledge of any such event only to the extent that it
relates to such Person or any action or failure to act by such Person.

     Section 11.04 Form 10-K Filings. For so long as the Seller is required to file
Exchange Act Reports: (i) if the Item 1119 Parties listed on Appendix A have changed since the
Closing Date, no later than March 1 of each year, the Seller shall provide each of the Indenture
Trustee, the Owner Trustee and the Servicer with an updated Appendix A setting forth the Item 1119
Parties and (ii) no later than March 15 of each year, commencing in 2009, the Indenture Trustee,
the Owner Trustee and the Servicer shall notify the Seller of any Form 10-K Disclosure Item,
together with a description of any such Form 10-K Disclosure Item in form and substance reasonably
acceptable to the Seller.

     Section 11.05 Report on Assessment of Compliance and Attestation. So long as the
Seller is required to file Exchange Act Reports in respect of the Issuer, on or before March 15 of
each calendar year, commencing in 2009:

     (a) The Indenture Trustee shall deliver to the Seller and the Servicer a report of the
Indenture Trustee’s assessment of compliance with the Servicing Criteria during the
immediately preceding calendar year, as set forth under Rules 13a-18 and 15d-18 of the
Exchange Act (or any successor provisions) and Item 1122 of Regulation AB. Such report
shall be signed by an authorized officer of the Indenture Trustee and shall at a minimum
address each of the Servicing Criteria specified on a certification substantially in the
form of Appendix B hereto delivered to the Seller concurrently with the execution of this
Agreement (provided that such certification may be revised after the date of this Agreement
as agreed by the Seller and the Indenture Trustee to reflect any guidance with respect to
such criteria from the Commission). To the extent any of the Servicing Criteria are not
applicable to the Indenture Trustee, with respect to asset-backed securities transactions
taken as a whole involving the Indenture Trustee and that are backed by the same asset type
as the Receivables, such report shall include such a statement to that effect. The
Indenture Trustee acknowledges and agrees that the Seller with respect to its duties as the
Certifying Person, and each of their respective officers and directors shall be entitled to
rely upon each such servicing criteria assessment and the attestation delivered pursuant to
Section 11.05(b) below.

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     (b) The Indenture Trustee shall deliver to the Seller and the Servicer a report of a
registered public accounting firm that attests to, and reports on, the assessment of
compliance made by the Indenture Trustee and delivered pursuant to the preceding paragraph.
Such attestation shall be in accordance with Rules 13a-18 and 15d-18 of the Exchange Act (or
any successor provisions), Rules 1-02(a)(3) and 2-02(g) of Regulation S-X (or any successor
provisions) under the Securities Act and the Exchange Act, including, without limitation
that in the event that an overall opinion cannot be expressed, such registered public
accounting firm shall state in such report why it was unable to express such an opinion.
Such report must be available for general use and not contain restricted use language.

     (c) The Indenture Trustee shall cause each Reporting Subcontractor to deliver to the
Seller and the Servicer an assessment of compliance and accountants’ attestation as and when
provided in paragraphs (a) and (b) of this Section 11.05. An assessment of compliance
provided by a Subcontractor need not address any elements of the Servicing Criteria other
than those specified by the Indenture Trustee pursuant to Section 11.05(a).

     (d) In the event the Indenture Trustee or Reporting Subcontractor is terminated or
resigns during the term of this Agreement, such Person shall provide the documents and
information pursuant to this Section 11.05 with respect to the period of time it was subject
to this Agreement or provided services with respect to the Trust or the Receivables.

     Section 11.06 Back-up Sarbanes-Oxley Certification. No later than March 15 of each
year, beginning in 2009, the Servicer shall provide to the Person who signs the Sarbanes-Oxley
Certification (the “Certifying Person”) a certification (each, a “Performance Certification”) and
shall cause each Reporting Subcontractor, in the form attached hereto as Appendix C (in the case of
a Reporting Subcontractor) and as Appendix D (in the case of the Servicer) on which the Certifying
Person, the entity for which the Certifying Person acts as an officer, and such entity’s officers,
directors and Affiliates (collectively with the Certifying Person, “Certification Parties”) can
reasonably rely. The Seller will not request delivery of a certification under this Section 11.06
unless the Seller is required under the Exchange Act to file an annual report on Form 10-K with
respect to the Issuer. So long as the Servicer is the Seller or an Affiliate of the Seller, the
Servicer is not required to deliver the Performance Certification. In the event that prior to the
filing date of the Form 10-K in March of each year, the Indenture Trustee or the Servicer has
actual knowledge of information as to itself (or any of its Subcontractors appointed pursuant to
Section 11.07) that is material to the Sarbanes-Oxley Certification, the Indenture Trustee or the
Servicer shall promptly notify the Seller. Each of the Indenture Trustee and the Servicer agrees
to cooperate with all reasonable requests made by any Certifying Person or Certification Party in
connection with such Person’s attempt to conduct any due diligence that such Person reasonably
believes to be appropriate in order to allow it to deliver any Sarbanes-Oxley Certification or
portion thereof with respect to the Issuer.

     Section 11.07 Use of Subcontractors. (a) It shall not be necessary for the Indenture
Trustee or the Servicer to seek the consent of the Seller or any other party hereto to the
utilization of any Subcontractor. Each of the Indenture Trustee and the Servicer shall promptly
upon request provide to the Seller (or any designee of the Seller, such as the Servicer or the
Administrator) a written description (in form and substance satisfactory to the Seller) of the role
and function of each Subcontractor utilized by such Person, specifying (i) the identity of each

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such Subcontractor, (ii) which (if any) of such Subcontractors are “participating in the
servicing function” within the meaning of Item 1122 of Regulation AB and (iii) which elements of
the Servicing Criteria will be addressed in assessments of compliance provided by each
Subcontractor identified pursuant to clause (ii) of this sentence.

     (b) As a condition to the utilization of any Subcontractor determined to be a Reporting
Subcontractor, the Indenture Trustee shall cause any such Subcontractor for the benefit of the
Seller to comply with the provisions of Sections 11.05 and 11.06 to the same extent as if such
Subcontractor were the Indenture Trustee. The Indenture Trustee shall be responsible for obtaining
from each such Subcontractor and delivering to the Seller, any assessment of compliance and
attestation required to be delivered by such Subcontractor under Sections 11.05 and 11.06, in each
case as and when required to be delivered.

     (c) As a condition to the utilization of any Subcontractor determined to be a Reporting
Subcontractor, the Servicer shall cause any such Subcontractor for the benefit of the Seller to
comply with the provisions of Section 4.10(a)(ii), Section 4.11 and Section 11.06 to the same
extent as if such Subcontractor were the Servicer. The Servicer shall be responsible for obtaining
from each such Subcontractor and delivering to the Seller, any assessment of compliance and
attestation required to be delivered by such Subcontractor under this Agreement, in each case as
and when required to be delivered.

     Section 11.08 Representations and Warranties. Each of the Indenture Trustee and the
Owner Trustee represents that (i) there are no affiliations, relating to such Person with respect
to any Item 1119 Party, (ii) there are no relationships or transactions with respect to any Item
1119 Party and such Person that are outside the ordinary course of business or on terms other than
would be obtained in an arm’s-length transaction with an unrelated third party, apart from the
transactions contemplated under the Basic Documents, and that are material to the investors’
understanding of the Notes and (iii) there are no legal proceedings pending, or known to be
contemplated by governmental authorities, against such Person, or of which the property of such
Person is subject, that is material to the Noteholders.

     Section 11.09 Indemnification. (a) Each of the Indenture Trustee and the Servicer
(if the Seller is not the Servicer) shall indemnify the Seller, each affiliate of the Seller, the
Servicer with respect to its duties as Certifying Person or each Person who controls any of such
parties (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act)
and the respective present and former directors, officers, employees and agents of each of the
foregoing, and shall hold each of them harmless from and against any losses, damages, penalties,
fines, forfeitures, legal fees and expenses and related costs, judgments, and any other costs, fees
and expenses that any of them may sustain arising out of or based upon:

     (i) (A) any untrue statement of a material fact contained or alleged to be contained in
(x) with respect to the Indenture Trustee, the assessment of compliance provided under this
Article XI and (y) with respect to the Servicer, Section 4.10 and Section 4.11 provided by
or on behalf of such Person (with respect to each such party, the “Provided Information”),
or (B) the omission or alleged omission to state in the Provided Information a material fact
required to be stated in the Provided Information, or necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not
misleading; provided, by way of clarification, that clause (B) of this paragraph shall be
construed solely by reference to the related Provided Information and

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not to any other information communicated in connection with a sale or purchase of
securities, without regard to whether the Provided Information or any portion thereof is
presented together with or separately from such other information; or

     (ii) with respect to the Indenture Trustee, any failure by the Indenture Trustee to
deliver any assessment of compliance when and as required under this Article XI and with
respect to the Servicer, any failure by the Servicer to deliver any information, report,
certification, accountants’ letter or other material when and as required under Section
4.10, Section 4.11 or Article XI, as applicable.

     (b) In the case of any failure of performance described in clause (ii) of Section 11.09(a),
each of the Indenture Trustee and the Servicer shall promptly reimburse the Seller for all costs
reasonably incurred by each such party in order to obtain the information, report, certification,
accountants’ letter or other material not delivered as required by the Indenture Trustee or the
Servicer, as applicable.

     (c) Each of the Indenture Trustee and the Servicer shall require that any Reporting
Subcontractor agree to the provisions of paragraphs (a) and (b) of this Section 11.09, or shall be
responsible for all such indemnification, costs or expenses if the Reporting Subcontractor will not
agree to such provisions.

     (d) Notwithstanding anything to the contrary contained herein, in no event shall the Indenture
Trustee be liable for special, indirect or consequential damages of any kind whatsoever, including
but not limited to lost profits, even if the Indenture Trustee has been advised of the likelihood
of such loss or damage and regardless of the form of action.

     Section 11.10 Amendments. In the event the parties to this Agreement desire to
further clarify or amend any provision of this Article XI, this Agreement shall be amended to
reflect the new agreement between the parties covering matters in this Article XI pursuant to
Section 11.01, provided such amendment will not require any Opinion of Counsel or satisfaction of
the Rating Agency Condition or the consent of any Noteholder or Certificateholder.

54

 

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

	 	 	 	 	 	 	 	 	 
	 	 	DAIMLERCHRYSLER AUTO TRUST 2008-A	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	BNYM (Delaware),	 	 
	 	 	 	 	not in its individual capacity but solely as
Owner Trustee on behalf of the Trust	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:  	 	/s/ Kristine K. Gullo	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	Kristine K. Gullo	 	 
	 

	 	 	 	Title:	 	Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	DAIMLERCHRYSLER FINANCIAL SERVICES AMERICAS LLC,

Seller and Servicer	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:  	 	/s/ David Nelson	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Name:	 	David Nelson	 	 
	 	 	Title:	 	Vice President and Treasurer	 	 

Acknowledged and accepted and, solely for

purposes of Article XI, agreed as of the

day and year first above written:

DEUTSCHE BANK TRUST COMPANY AMERICAS,

not in its individual capacity

but solely as Indenture Trustee

	 	 	 	 	 	 	 
	By:
	 	/s/ Jenna Kaufman 	 	 	 	 
	

	 	 

	 	 	 	 
	Name:

	 	Jenna Kaufman 
	 	 	 	 
	Title:
	 	Director	 	 	 	 
	 
	 	 	 	 	 	 
	By:
	 	/s/ Louis Bodi 	 	 	 	 
	

	 	 

	 	 	 	 
	Name:

	 	Louis Bodi
	 	 	 	 
	Title:
	 	Vice President 	 	 	 	 

BNYM (DELAWARE)

not in its individual capacity, but solely as

Owner Trustee

	 	 	 	 	 
	By:
	 	/s/ Kristine K. Gullo 	 	 
	

	 	 

	 	 	 	 
	Name:

	 	Kristine K. Gullo
	 	 	 	 
	Title:
	 	Vice President 	 	 

DCAT 2008-A – Sale and Servicing Agreement

 

 

SCHEDULE A

Schedule of Receivables

Delivered to the Owner Trustee and Indenture Trustee at Closing

Schedule A

 

 

SCHEDULE B

Location of Receivable Files

	1.	 	9750 Goethe Road, Sacramento, CA 95827.
	 
	2.	 	1202 Avenue R, Grand Prairie, TX 75050.
	 
	3.	 	3433 Progress Drive, Bensalem, PA 19020.

Schedule B

 

 

SCHEDULE C

Schedule of YSOA

     “YSOA” means, with respect to any Payment Date, the amount specified below with respect to
such Payment Date:

	 	 	 	 	 
	Closing Date
	 	$	43,754,554.40	 
	March 2008
	 	$	42,253,494.85	 
	April 2008
	 	$	40,781,262.26	 
	May 2008
	 	$	39,338,006.48	 
	June 2008
	 	$	37,923,697.39	 
	July 2008
	 	$	36,538,285.09	 
	August 2008
	 	$	35,181,562.94	 
	September 2008
	 	$	33,853,363.41	 
	October 2008
	 	$	32,553,475.01	 
	November 2008
	 	$	31,281,638.36	 
	December 2008
	 	$	30,037,590.07	 
	January 2009
	 	$	28,821,101.96	 
	February 2009
	 	$	27,632,087.20	 
	March 2009
	 	$	26,470,492.84	 
	April 2009
	 	$	25,336,265.02	 
	May 2009
	 	$	24,229,409.16	 
	June 2009
	 	$	23,149,921.28	 
	July 2009
	 	$	22,097,777.68	 
	August 2009
	 	$	21,072,894.87	 
	September 2009
	 	$	20,075,159.66	 
	October 2009
	 	$	19,104,394.72	 
	November 2009
	 	$	18,160,340.52	 
	December 2009
	 	$	17,242,844.10	 
	January 2010
	 	$	16,351,854.99	 
	February 2010
	 	$	15,487,272.46	 
	March 2010
	 	$	14,648,933.92	 
	April 2010
	 	$	13,836,729.89	 
	May 2010
	 	$	13,050,633.80	 
	June 2010
	 	$	12,290,641.86	 
	July 2010
	 	$	11,556,760.94	 
	August 2010
	 	$	10,848,840.55	 
	September 2010
	 	$	10,166,627.60	 
	October 2010
	 	$	9,509,894.56	 
	November 2010
	 	$	8,878,372.34	 
	December 2010
	 	$	8,271,777.15	 
	January 2011
	 	$	7,689,909.70	 
	February 2011
	 	$	7,132,046.31	 
	March 2011
	 	$	6,596,569.65	 
	April 2011
	 	$	6,083,378.29	 
	May 2011
	 	$	5,592,542.13	 
	June 2011
	 	$	5,124,113.56	 
	July 2011
	 	$	4,678,114.02	 
	August 2011
	 	$	4,254,463.61	 
	September 2011
	 	$	3,853,037.08	 
	October 2011
	 	$	3,473,626.30	 
	November 2011
	 	$	3,116,156.32	 
	December 2011
	 	$	2,780,481.59	 
	January 2012
	 	$	2,466,394.59	 
	February 2012
	 	$	2,173,622.86	 
	March 2012
	 	$	1,902,150.16	 
	April 2012
	 	$	1,652,091.52	 
	May 2012
	 	$	1,423,520.41	 
	June 2012
	 	$	1,216,312.93	 
	July 2012
	 	$	1,030,113.72	 
	August 2012
	 	$	864,376.97	 
	September 2012
	 	$	718,109.04	 
	October 2012
	 	$	590,260.25	 
	November 2012
	 	$	479,758.22	 
	December 2012
	 	$	384,935.02	 
	January 2013
	 	$	303,512.06	 
	February 2013
	 	$	233,960.68	 
	March 2013
	 	$	175,328.71	 
	April 2013
	 	$	127,555.73	 
	May 2013
	 	$	90,690.03	 
	June 2013
	 	$	62,655.99	 
	July 2013
	 	$	40,509.36	 
	August 2013
	 	$	23,413.53	 
	September 2013
	 	$	11,309.20	 
	October 2013
	 	$	4,210.64	 
	November 2013
	 	$	1,480.53	 
	December 2013
	 	$	502.94	 
	January 2014
	 	$	54.91	 
	February 2014 (and thereafter)
	 	$	0.00	 

     The YSOA has been calculated for each Payment Date as the sum of the amount for each
Receivable equal to the excess, if any, of

	 	•	 	the scheduled payments due on such Receivable for each future Collection Period
discounted to present value as of the end of the preceding Collection Period at the APR of
such Receivable, over
	 
	 	•	 	the scheduled payments due on the Receivable for each future Collection Period
discounted to present value as of the end of the preceding Collection Period at 6.75%.

Schedule C-1

 

 

     For purposes of such calculation, future scheduled payments on the Receivables are assumed to
be made on their scheduled due dates without any delays, defaults or prepayments.

Schedule C-2

 

 

EXHIBIT A

Form of Distribution Statement to Noteholders

DaimlerChrysler Financial Services Americas LLC

DaimlerChrysler Auto Trust 2008-A Payment Date Statement to Noteholders

Amount of Principal Paid to:

Class A-1 Notes:   ($ per $1,000 original principal amount)

Class A-2a Notes: ($ per $1,000 original principal amount)

Class A-2b Notes: ($ per $1,000 original principal amount)

Class A-3a Notes:  ($ per $1,000 original principal amount)

Class A-3b Notes: ($ per $1,000 original principal amount)

Class A-4 Notes:   ($ per $1,000 original principal amount)

Class B Notes:       ($ per $1,000 original principal amount)

Class C Notes:       ($ per $1,000 original principal amount)

Amount of Interest Paid to:

Class A-1 Notes:   ($ per $1,000 original principal amount)

Class A-2a Notes: ($ per $1,000 original principal amount)

Class A-2b Notes: ($ per $1,000 original principal amount)

Class A-3a Notes: ($ per $1,000 original principal amount)

Class A-3b Notes: ($ per $1,000 original principal amount)

Class A-4 Notes:   ($ per $1,000 original principal amount)

Class B Notes:       ($ per $1,000 original principal amount)

Class C Notes:       ($ per $1,000 original principal amount)

Amounts paid to Class D Notes: ($  per $1,000 original stated principal amount)

Total Distribution Amount:

Note Balance

Class A-1 Notes

Class A-2a Notes

Class A-2b Notes

Class A-3a Notes

Class A-3b Notes

Class A-4 Notes

Class B Notes

Class C Notes

Class D Stated Principal Amount

Servicing Fee

Servicing Fee Per $1,000 Note

Exhibit A-1 

 

Reserve Account Balance

Pool Balance

Hedge Payments (excluding termination payments)

     Payable by Issuer

     Payable by Hedge Counterparty

Hedge Termination Payments (excluding Subordinated Termination Payments)

Subordinated Termination Payments

Exhibit A-2 

 

EXHIBIT B

Form of Servicer’s Certificate

			
	 	 	 
	DaimlerChrysler Financial Services Americas LLC 

DaimlerChrysler Auto Trust 2008-A Monthly Servicer’s Certificate
	 	Distribution Date: [ ]

Page 1 of 2

Payment Determination Statement Number

Distribution Date

Record Date

	 	 	 	 	 	 	 	 	 
	Dates Covered	 	From and Including	 	 	To and Including	 
	Collections Period

	 	 	 	 	 	 	 	 
	Accrual Period
	 	 	 	 	 	 	 	 
	30/360 Days
	 	 	 	 	 	 	 	 
	Actual/360 Days
	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 
	 	 	Number of	 	 	 	 
	Collateral Pool Balance Data	 	Accounts	 	 	$ Amount	 
	Pool Balance — Beginning of Period
	 	 	 	 	 	 	 	 
	Collections of Installment Principal
	 	 	 	 	 	 	 	 
	Collections Attributable to Full Payoffs
	 	 	 	 	 	 	 	 
	Principal Amount of Repurchases
	 	 	 	 	 	 	 	 
	Principal Amount of Gross Losses
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 
	Pool Balance — End of Period (EOP)
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 

	 	 	 	 	 
	Pool Statistics	 	End of Period	 
	Initial Pool Balance (Pool Balance at the Purchase Date)
	 	 	 	 
	 
	 	 	 	 
	Pool Factor (Pool Balance as a Percent of Initial Pool
Balance)
	 	 	 	 
	 
	 	 	 	 
	Ending Overcollateralization (O/C) Amount
	 	 	 	 
	 
	 	 	 	 
	Coverage Ratio (Ending Pool Balance as a Percent of Ending Notes)
	 	 	 	 
	 
	 	 	 	 
	Cumulative Net Losses
	 	 	 	 
	Net Loss Ratio (3 mo. Weighted Avg.)
	 	 	 	 
	 
	 	 	 	 
	Cumulative Recovery Ratio
	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	% of EOP Pool	 	 	 	 
	Delinquency Information(1)	 	$ Amount	 	 	Balance	 	 	# of Accounts	 
	31-60 Days Delinquent
	 	 	 	 	 	 	 	 	 	 	 	 
	61-90 Days Delinquent
	 	 	 	 	 	 	 	 	 	 	 	 
	91-120 Days Delinquent
	 	 	 	 	 	 	 	 	 	 	 	 
	121 Days or More Delinquent
	 	 	 	 	 	 	 	 	 	 	 	 
	Repossessions
	 	 	 	 	 	 	 	 	 	 	 	 

 

			
	(1)	 	A receivable is not considered past due if the amount past due is less than 10% of the scheduled monthly payment.

60+ Days Delinquency Amount

60+ Days Delinquency Ratio (3 mo. Weighted Avg.)

	 	 	 	 	 	 	 	 	 
	 	 	Current Month	 	 	Prior Month	 
	Weighted Average APR
	 	 	 	 	 	 	 	 
	Weighted Average Remaining Term (months)
	 	 	 	 	 	 	 	 
	Weighted Average Seasoning (months)
	 	 	 	 	 	 	 	 

Exhibit B-1 

 

EXHIBIT B

Form of Servicer’s Certificate

			
	 	 	 
	DaimlerChrysler Financial Services Americas LLC 

DaimlerChrysler Auto Trust 2008-A Monthly Servicer’s Certificate
	 	Distribution Date: [ ]

Page 2 of 2

	 	 	 	 	 	 	 	 	 	 	 
	Cash Sources
	 	 	 	 	 	 	 	 	 	 
	Collections of Installment Principal
	 	 	 	 	 	 	 	 	 	 
	Collections Attributable to Full
Payoffs
	 	 	 	 	 	 	 	 	 	 
	Principal Amount of Repurchases
	 	 	 	 	 	O/C Release	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	Recoveries on Loss Accounts
	 	 	 	 	 	Pool Balance	 	 	 	 
	Collections of Interest
	 	 	 	 	 	Yield Supplement O/C Amount	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	Investment Earnings
	 	 	 	 	 	Adjusted Pool Balance	 	 	 	 
	Reserve Account
	 	 	 	 	 	Total Securities	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Total Sources
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Cash Uses
	 	 	 	 	 	Adjusted O/C Amount	 	 	 	 
	Servicer Fee
	 	 	 	 	 	Target Overcollateralization Amount	 	 	 	 
	Hedge Payments (excluding termination payments)
	 	 	 	 	 	O/C Release Period?	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	A Note Interest
	 	 	 	 	 	O/C Release	 	 	 	 
	Hedge Termination Payments
(excluding Subordinated Termination
Payments)
	 	 	 	 	 	 	 	 	 	 
	First Priority Principal
Distribution Amount
	 	 	 	 	 	 	 	 	 	 
	Second Priority Principal
Distribution Amount
	 	 	 	 	 	 	 	 	 	 
	Third Priority Principal
Distribution Amount
	 	 	 	 	 	 	 	 	 	 
	B Note Interest
	 	 	 	 	 	 	 	 	 	 
	C Note Interest
	 	 	 	 	 	 	 	 	 	 
	Reserve Fund
	 	 	 	 	 	 	 	 	 	 
	Regular Principal Distribution
Amount
	 	 	 	 	 	 	 	 	 	 
	Subordinated Termination Payments
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	Distribution to Class D Noteholders
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	Total Cash Uses
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Administrative Payment
	 	 	 	 	 	 	 	 	 	 
	Total Principal and Interest Sources
	 	 	 	 	 	 	 	 	 	 
	Investment Earnings in Trust Account
	 	 	 	 	 	 	 	 	 	 
	Daily Collection Remitted
	 	 	 	 	 	 	 	 	 	 
	Cash Reserve in Trust Account
	 	 	 	 	 	 	 	 	 	 
	Servicer Fee (withheld)
	 	 	 	 	 	 	 	 	 	 
	O/C Release to Seller
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 

Exhibit B-2 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Principal	 	 	 	 	 	 	Interest	 
	Payment Due to/(from) Trust	 	Beginning	 	 	Ending	 	 	Principal	 	 	per $1000	 	 	Interest	 	 	per $1000	 
	Account	 	Balance	 	 	Balance	 	 	Payment	 	 	Face	 	 	Payment	 	 	Face	 
	Senior Notes
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Class A-1         @         %
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Class A-2a         @         %
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Class A-2b
        @ LIBOR +         %
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Class A-3a         @         %
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Class A-3b         @ LIBOR +         %
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Class A-4         @         %
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Class B         @         %
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Class C         @         %
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total Notes
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

			
	*	 	Class A-1 Interest, Class A-2b Interest, and Class A-3b Interest is computed on an Actual/360
Basis. Days in current period.

Exhibit B-3 

 

APPENDIX A

Item 1119 Parties

DaimlerChrysler Auto Trust 2008-A

DaimlerChrysler Financial Services Americas LLC

Deutsche Bank Trust Company Americas

BNYM (Delaware)

Goldman Sachs Mitsui Marine Derivative Products, L.P.

Appendix A 

 

APPENDIX B

Minimum Servicing Criteria to be Addressed in

Assessment of Compliance Statement

     The assessment of compliance to be delivered by the [Trustee] [Servicer] shall address, at a
minimum, the criteria identified as below as “Applicable Servicing Criteria”:

	 	 	 	 	 
	 	 	 	 	 
	Reg AB Reference	 	Servicing Criteria	 	Applicable Servicing Criteria
	 
	 	General Servicing Considerations	 	 
	 
	 	 	 	 
	1122(d)(1)(i)

	 	Policies and procedures are
instituted to monitor any
performance or other triggers and
events of default in accordance
with the transaction agreements.	 	 
	 
	 	 	 	 
	1122(d)(1)(ii)

	 	If any material servicing
activities are outsourced to
third parties, policies and
procedures are instituted to
monitor the third party’s
performance and compliance with
such servicing activities.	 	 
	 
	 	 	 	 
	1122(d)(1)(iii)

	 	Any requirements in the
transaction agreements to
maintain a back-up servicer for
the Pool Assets are maintained.	 	 
	 
	 	 	 	 
	1122(d)(1)(iv)

	 	A fidelity bond and errors and
omissions policy is in effect on
the party participating in the
servicing function throughout the
reporting period in the amount of
coverage required by and
otherwise in accordance with the
terms of the transaction
agreements.	 	 
	 
	 	 	 	 
	 

	 	Cash Collection and Administration	 	 
	 
	 	 	 	 
	1122(d)(2)(i)

	 	Payments on pool assets are
deposited into the appropriate
custodial bank accounts and
related bank clearing accounts no
more than two business days
following receipt, or such other
number of days specified in the
transaction agreements.	 	 
	 
	 	 	 	 
	1122(d)(2)(ii)

	 	Disbursements made via wire
transfer on behalf of an obligor
or to an investor are made only
by authorized personnel.	 	 
	 
	 	 	 	 
	1122(d)(2)(iii)

	 	Advances of funds or guarantees
regarding collections, cash flows
or distributions, and any
interest or other fees charged
for such advances, are made,
reviewed and approved as
specified in the transaction
agreements.	 	 
	 
	 	 	 	 
	1122(d)(2)(iv)

	 	The related accounts for the
transaction, such as cash reserve
accounts or accounts established
as a form of over
collateralization, are separately
maintained (e.g., with respect to
commingling of cash) as set forth
in the transaction agreements.	 	 
	 
	 	 	 	 
	1122(d)(2)(v)

	 	Each custodial account is
maintained at a federally insured
depository institution as set
forth in the transaction
agreements. For purposes of this
criterion, “federally insured
depository institution” with
respect to a foreign financial
institution means a foreign
financial institution that meets
the requirements of Rule
13k-1(b)(1) of the Securities
Exchange Act.	 	 

Appendix B-1 

 

	 	 	 	 	 
	 	 	 	 	 
	Reg AB Reference	 	Servicing Criteria	 	Applicable Servicing Criteria
	1122(d)(2)(vi)

	 	Unissued checks are safeguarded
so as to prevent unauthorized
access.	 	 
	 
	 	 	 	 
	1122(d)(2)(vii)

	 	Reconciliations are prepared on a
monthly basis for all
asset-backed securities related
bank accounts, including
custodial accounts and related
bank clearing accounts. These
reconciliations are (A)
mathematically accurate; (B)
prepared within 30 calendar days
after the bank statement cutoff
date, or such other number of
days specified in the transaction
agreements; (C) reviewed and
approved by someone other than
the person who prepared the
reconciliation; and (D) contain
explanations for reconciling
items. These reconciling items
are resolved within 90 calendar
days of their original
identification, or such other
number of days specified in the
transaction agreements.	 	 
	 
	 	 	 	 
	 

	 	Investor Remittances and Reporting	 	 
	 
	 	 	 	 
	1122(d)(3)(i)

	 	Reports to investors, including
those to be filed with the
Commission, are maintained in
accordance with the transaction
agreements and applicable
Commission requirements.
Specifically, such reports (A)
are prepared in accordance with
timeframes and other terms set
forth in the transaction
agreements; (B) provide
information calculated in
accordance with the terms
specified in the transaction
agreements; (C) are filed with
the Commission as required by its
rules and regulations; and (D)
agree with investors’ or the
trustee’s records as to the total
unpaid principal balance and
number of Pool Assets serviced by
the Servicer.	 	 
	 
	 	 	 	 
	1122(d)(3)(ii)

	 	Amounts due to investors are
allocated and remitted in
accordance with timeframes,
distribution priority and other
terms set forth in the
transaction agreements.	 	 
	 
	 	 	 	 
	1122(d)(3)(iii)

	 	Disbursements made to an investor
are posted within two business
days to the Servicer’s investor
records, or such other number of
days specified in the transaction
agreements.	 	 
	 
	 	 	 	 
	1122(d)(3)(iv)

	 	Amounts remitted to investors per
the investor reports agree with
cancelled checks, or other form
of payment, or custodial bank
statements.	 	 
	 
	 	 	 	 
	 

	 	Pool Asset Administration	 	 
	 
	 	 	 	 
	1122(d)(4)(i)

	 	Collateral or security on pool
assets is maintained as required
by the transaction agreements or
related pool asset documents.	 	 
	 
	 	 	 	 
	1122(d)(4)(ii)

	 	Pool assets and related documents
are safeguarded as required by
the transaction agreements	 	 
	 
	 	 	 	 
	1122(d)(4)(iii)

	 	Any additions, removals or
substitutions to the asset pool
are made, reviewed and approved
in accordance with any conditions
or requirements in the
transaction agreements.	 	 

Appendix B-2 

 

	 	 	 	 	 
	 	 	 	 	 
	Reg AB Reference	 	Servicing Criteria	 	Applicable Servicing Criteria
	1122(d)(4)(iv)

	 	Payments on pool assets,
including any payoffs, made in
accordance with the related pool
asset documents are posted to the
Servicer’s obligor records
maintained no more than two
business days after receipt, or
such other number of days
specified in the transaction
agreements, and allocated to
principal, interest or other
items (e.g., escrow) in
accordance with the related pool
asset documents.	 	 
	 
	 	 	 	 
	1122(d)(4)(v)

	 	The Servicer’s records regarding
the pool assets agree with the
Servicer’s records with respect
to an obligor’s unpaid principal
balance.	 	 
	 
	 	 	 	 
	1122(d)(4)(vi)

	 	Changes with respect to the terms
or status of an obligor’s pool
assets (e.g., loan modifications
or re-agings) are made, reviewed
and approved by authorized
personnel in accordance with the
transaction agreements and
related pool asset documents.	 	 
	 
	 	 	 	 
	1122(d)(4)(vii)

	 	Loss mitigation or recovery
actions (e.g., forbearance plans,
modifications and deeds in lieu
of foreclosure, foreclosures and
repossessions, as applicable) are
initiated, conducted and
concluded in accordance with the
timeframes or other requirements
established by the transaction
agreements.	 	 
	 
	 	 	 	 
	1122(d)(4)(viii)

	 	Records documenting collection
efforts are maintained during the
period a pool asset is delinquent
in accordance with the
transaction agreements. Such
records are maintained on at
least a monthly basis, or such
other period specified in the
transaction agreements, and
describe the entity’s activities
in monitoring delinquent pool
assets including, for example,
phone calls, letters and payment
rescheduling plans in cases where
delinquency is deemed temporary
(e.g., illness or unemployment).	 	 
	 
	 	 	 	 
	1122(d)(4)(ix)

	 	Adjustments to interest rates or
rates of return for pool assets
with variable rates are computed
based on the related pool asset
documents.	 	 
	 
	 	 	 	 
	1122(d)(4)(x)

	 	Regarding any funds held in trust
for an obligor (such as escrow
accounts): (A) such funds are
analyzed, in accordance with the
obligor’s pool asset documents,
on at least an annual basis, or
such other period specified in
the transaction agreements; (B)
interest on such funds is paid,
or credited, to obligors in
accordance with applicable pool
asset documents and state laws;
and (C) such funds are returned
to the obligor within 30 calendar
days of full repayment of the
related pool assets, or such
other number of days specified in
the transaction agreements.	 	 
	 
	 	 	 	 
	1122(d)(4)(xi)

	 	Payments made on behalf of an
obligor (such as tax or insurance
payments) are made on or before
the related penalty or expiration
dates, as indicated on the
appropriate bills or notices for
such payments, provided that such
support has been received by the
servicer at least 30 calendar
days prior to these dates, or
such other number of days
specified in the transaction
agreements.	 	 

Appendix B-3 

 

	 	 	 	 	 
	 	 	 	 	 
	Reg AB Reference	 	Servicing Criteria	 	Applicable Servicing Criteria
	1122(d)(4)(xii)

	 	Any late payment penalties in
connection with any payment to be
made on behalf of an obligor are
paid from the Servicer’s funds
and not charged to the obligor,
unless the late payment was due
to the obligor’s error or
omission.	 	 
	 
	 	 	 	 
	1122(d)(4)(xiii)

	 	Disbursements made on behalf of
an obligor are posted within two
business days to the obligor’s
records maintained by the
servicer, or such other number of
days specified in the transaction
agreements.	 	 
	 
	 	 	 	 
	1122(d)(4)(xiv)

	 	Delinquencies, charge-offs and
uncollectible accounts are
recognized and recorded in
accordance with the transaction
agreements.	 	 
	 
	 	 	 	 
	1122(d)(4)(xv)

	 	Any external enhancement or other
support, identified in Item
1114(a)(1) through (3) or Item
1115 of Regulation AB, is
maintained as set forth in the
transaction agreements.	 	 

	 	 	 	 	 
	 	[DEUTSCHE BANK TRUST COMPANY AMERICAS]

[DAIMLERCHRYSLER FINANCIAL SERVICES AMERICAS LLC]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 	 	 
	 

	 	Date:	 	 	 	 
	 

	 	 	 	 

	 	 

Appendix B-4 

 

APPENDIX C

Form of Performance Certification

Reporting Subcontractor

CERTIFICATION

     Re: DaimlerChrysler Auto Trust 2008-A

     The undersigned Reporting Subcontractor hereby certifies to the [ ] and its officers,
directors and Affiliates (collectively, the “Certification Parties”) as follows, with the knowledge
and intent that the Certification Parties will rely on this Certification in connection with the
certification concerning the Trust to be signed by an officer of the Servicer and submitted to the
Securities and Exchange Commission pursuant to the Sarbanes-Oxley Act of 2002:

     1. The Reporting Subcontractor has reviewed the information and reports provided by it to the
Seller and the Servicer pursuant to the Sale and Servicing Agreement with respect to the servicing
criteria assessment under Section 11.05 of the Sale and Servicing Agreement (the “Information”);

     2. Based on the Reporting Subcontractor’s knowledge, the Information, taken as a whole, does
not contain any untrue statement of a material fact or omit to state a material fact required in
the Information and necessary to make the statements made, in the light of the circumstances under
which such statements were made, not misleading with respect to the period covered by the 10-K
report; and

     3. The servicing criteria assessment required to be provided by the Reporting Subcontractor
pursuant to the Sale and Servicing Agreement, has been provided to the Seller and the Servicer.
Any material instance of noncompliance with the applicable Servicing Criteria has been disclosed in
such report.

     4. Any assessment of compliance with servicing criteria required to be provided by any
Reporting Subcontractor of the Indenture Trustee have been provided by such Reporting
Subcontractor.

Appendix C-1 

 

     Capitalized terms not otherwise defined herein have the meanings ascribed thereto in the Sale
and Servicing Agreement dated as of February 1, 2008 among DaimlerChrysler Financial Services
Americas LLC, as Seller and Servicer, and DaimlerChrysler Auto Trust 2008-A.

	 	 	 	 	 
	 	[REPORTING SUBCONTRACTOR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 	 	 
	 

	 	Date:	 	 	 	 
	 

	 	 	 	 

	 	 

Appendix C-2 

 

APPENDIX D

Form of Performance Certification

(Servicer)

CERTIFICATION

     Re: DaimlerChrysler Auto Owner Trust 2008-A

     The undersigned Servicer hereby certifies to the [                    ] and its officers, directors and
Affiliates (collectively, the “Certification Parties”) as follows, with the knowledge and intent
that the Certification Parties will rely on this Certification in connection with the certification
concerning the Trust to be signed by an officer of the Servicer and submitted to the Securities and
Exchange Commission pursuant to the Sarbanes-Oxley Act of 2002:

     1. I have reviewed the servicer compliance statement of the Servicer provided in accordance
with Item 1123 of Regulation AB (the “Compliance Statement”), the report on assessment of the
Servicer’s compliance with the servicing criteria set forth in Item 1122(d) of Regulation AB (the
“Servicing Criteria”), provided in accordance with Rules 13a-18 and 15d-18 under Securities
Exchange Act of 1934, as amended (the “Exchange Act”) and Item 1122 of Regulation AB (the
“Servicing Assessment”), the registered public accounting firm’s attestation report provided in
accordance with Rules 13a-18 and 15d-18 under the Exchange Act and Section 1122(b) of Regulation AB
(the “Attestation Report”), and all servicing reports, officer’s certificates and other information
relating to the servicing of the Receivables by the Servicer during [20___] that were delivered by
the Servicer to the Indenture Trustee pursuant to the Agreement (collectively, the “Servicer
Servicing Information”);

     2. Based on my knowledge, the Servicer Servicing Information, taken as a whole, does not
contain any untrue statement of a material fact or omit to state a material fact necessary to make
the statements made, in the light of the circumstances under which such statements were made, not
misleading with respect to the period of time covered by the Servicer Servicing Information;

     3. Based on my knowledge, all of the Servicer Servicing Information required to be provided by
the Servicer under the Agreement has been provided to the Indenture Trustee;

     4. I am responsible for reviewing the activities performed by the Servicer as servicer under
the Sale and Servicing Agreement dated February 1, 2008 among DaimlerChrysler Auto Trust 2008-A,
and DaimlerChrysler Financial Services Americas LLC (the “Agreement”), and based on my knowledge
and the compliance review conducted in preparing the Compliance Statement and except as disclosed
in the Compliance Statement, the Servicing Assessment or the Attestation Report, the Servicer has
fulfilled its obligations under the Agreement in all material respects; and

     5. The Compliance Statement required to be delivered by the Servicer pursuant to the
Agreement, and the Servicing Assessment and Attestation Report required to be provided by the
Servicer and by any Reporting Subcontractor pursuant to the Agreement, have been provided

Appendix D-1 

 

to the Indenture Trustee. Any material instances of noncompliance described in such reports
have been disclosed to the Seller. Any material instance of noncompliance with the Servicing
Criteria has been disclosed in such reports.

     Capitalized terms not otherwise defined herein have the meanings ascribed thereto in the Sale
and Servicing Agreement dated as of February 1, 2008 among DaimlerChrysler Financial Services
Americas LLC, as Seller and Servicer, and DaimlerChrysler Auto Trust 2008-A.

	 	 	 	 	 
	 	DAIMLERCHRYSLER FINANCIAL

SERVICES AMERICAS LLC

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 	 	 
	 

	 	Date:	 	 	 	 
	 

	 	 	 	 

	 	 

Appendix D-2

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