Document:

EX-10.3

 Exhibit 10.3 
  

 
  

ADMINISTRATION AGREEMENT 

between 
 DRIVE AUTO
RECEIVABLES TRUST 20[    ]-[    ], 
 as Issuer, 

SANTANDER CONSUMER USA INC., 

as Administrator 
 and

 [                    ],

 as Indenture Trustee 

Dated as of [            ], 20[    ] 

 
  

 

20[    ]-[    ] Administration Agreement 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	 1.
	 	 Duties of the Administrator
	  	 	1	  
			
	 2.
	 	 Records
	  	 	3	  
			
	 3.
	 	 Compensation; Payment of Fees and Expenses
	  	 	3	  
			
	 4.
	 	 Independence of the Administrator
	  	 	3	  
			
	 5.
	 	 No Joint Venture
	  	 	3	  
			
	 6.
	 	 Other Activities of the Administrator
	  	 	4	  
			
	 7.
	 	 Representations and Warranties of the Administrator
	  	 	4	  
			
	 8.
	 	 Administrator Termination Events; Termination of the Administrator
	  	 	5	  
			
	 9.
	 	 Action upon Termination or Removal
	  	 	6	  
			
	 10.
	 	 Liens
	  	 	6	  
			
	 11.
	 	 Notices
	  	 	6	  
			
	 12.
	 	 Amendments
	  	 	7	  
			
	 13.
	 	 Governing Law; Submission to Jurisdiction; Waiver of Jury Trial
	  	 	8	  
			
	 14.
	 	 Headings
	  	 	9	  
			
	 15.
	 	 Counterparts
	  	 	9	  
			
	 16.
	 	 Entire Agreement
	  	 	9	  
			
	 17.
	 	 Severability of Provisions
	  	 	9	  
			
	 18.
	 	 Not Applicable to Santander Consumer in Other Capacities; Merger of Administrator
	  	 	9	  
			
	 19.
	 	 Benefits of the Administration Agreement
	  	 	10	  
			
	 20.
	 	 Delegation of Duties
	  	 	10	  
			
	 21.
	 	 Assignment
	  	 	10	  
			
	 22.
	 	 Nonpetition Covenant
	  	 	10	  
			
	 23.
	 	 Limitation of Liability
	  	 	11	  
			
	 24.
	 	 [Limitation of Rights
	  	 	11	  

  

					
		 	-i-	 	20[    ]-[    ] Administration Agreement

 THIS ADMINISTRATION AGREEMENT (as amended, supplemented or otherwise modified and in effect from
time to time, this “Agreement”) dated as of [            ], 20[    ], is between DRIVE AUTO RECEIVABLES TRUST
20[    ]-[    ], a Delaware statutory trust (the “Issuer”), SANTANDER CONSUMER USA INC., an Illinois corporation, as administrator (“Santander Consumer” or the
“Administrator”), and [                    ], a
[                    ], as indenture trustee (the “Indenture Trustee”). Capitalized terms used herein and not otherwise defined
herein shall have the meanings assigned such terms in Appendix A to the Sale and Servicing Agreement dated as of [            ], 20[    ] (the
“Sale and Servicing Agreement”) by and between Santander Drive Auto Receivables LLC, as seller, the Issuer, the Administrator, as servicer, and the Indenture Trustee. 

W I T N E S S E T H : 
 WHEREAS,
Santander Drive Auto Receivables LLC (the “Seller”) and [                    ] (the “Owner Trustee”) have
entered into the Amended and Restated Trust Agreement dated as of [            ], 20[    ] (the “Trust Agreement”). 

WHEREAS, the Issuer has issued the Notes pursuant to the Indenture and has entered into certain agreements in connection therewith, including,
(i) the Sale and Servicing Agreement, (ii) the Indenture, (iii) the Depository Agreement[, (iv) the Interest Rate Swap Agreement] and (v) the Trust Agreement (each of the agreements referred to in clauses
(i) through (v) are referred to herein collectively as the “Issuer Documents”); 
 WHEREAS, to secure
payment of the Notes, the Issuer has pledged the Collateral to the Indenture Trustee pursuant to the Indenture; 
 WHEREAS, pursuant to the
Issuer Documents, the Issuer and the Owner Trustee are required to perform certain duties; 
 WHEREAS, the Issuer and the Owner Trustee
desire to have the Administrator administer the affairs of the Issuer and perform certain of the duties of the Issuer and the Owner Trustee (in its capacity as owner trustee under the Trust Agreement), and to provide such additional services
consistent with this Agreement and the Issuer Documents as the Issuer may from time to time request; 
 WHEREAS, the Administrator has the
capacity to provide the services required hereby and is willing to perform such services for the Issuer and the Owner Trustee on the terms set forth herein; 

NOW, THEREFORE, in consideration of the mutual terms and covenants contained herein, and other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the parties agree as follows: 
 1. Duties of the Administrator. 

(a) Duties with Respect to the Issuer Documents. The Administrator shall perform all of its duties as Administrator
specifically enumerated herein and in the Issuer Documents and administer and perform all of the duties and obligations of the Issuer and 

  

					
		  		 	20[    ]-[    ] Administration Agreement

 
the Owner Trustee (in its capacity as owner trustee under the Trust Agreement) under the Issuer Documents and no additional duties shall be read to be included herein; provided,
however, that the Administrator shall have no obligation to make any payment required to be made by the Issuer under any Issuer Document; provided, further, that the Administrator shall have no obligation, and the Owner Trustee
shall be required to fully perform its duties, with respect to the obligations of the Owner Trustee under Sections 11.9, 11.13, 11.14, and 11.15 of the Trust Agreement and to otherwise comply with the requirements of the
Owner Trustee pursuant to or related to Regulation AB. In addition, the Administrator shall consult with the Issuer and the Owner Trustee regarding its duties and obligations under the Issuer Documents. The Administrator shall monitor the
performance of the Issuer and the Owner Trustee and shall advise the Issuer and the Owner Trustee when action is necessary to comply with the Issuer’s and the Owner Trustee’s duties and obligations under the Issuer Documents. The
Administrator shall perform such calculations, and shall prepare for execution by the Issuer or shall cause the preparation by other appropriate persons of all such documents, reports, filings, instruments, certificates, notices and opinions as it
shall be the duty of the Issuer and the Owner Trustee (in its capacity as owner trustee) to prepare, file or deliver pursuant to the Issuer Documents. In furtherance of the foregoing, the Administrator shall take all appropriate action that is the
duty of the Issuer and the Owner Trustee (in its capacity as owner trustee) to take pursuant to the Issuer Documents, and shall prepare, execute, file and deliver on behalf of the Issuer all such documents, reports, filings, instruments,
certificates, notices and opinions as it shall be the duty of the Issuer to prepare, execute, file or deliver pursuant to the Issuer Documents or otherwise by law. 

(b) Notices to Rating Agencies. The Administrator shall give notice to each Rating Agency of (i) any merger or
consolidation of the Owner Trustee pursuant to Section 10.4 of the Trust Agreement; (ii) any merger or consolidation of the Indenture Trustee pursuant to Section 6.9 of the Indenture; (iii) any resignation or
removal of the Indenture Trustee pursuant to Section 6.8 of the Indenture; (iv) any Default or Event of Default of which it has been provided notice pursuant to Section 6.5 of the Indenture; (v) the termination of,
and/or appointment of a successor to, the Servicer pursuant to Section 7.1 of the Sale and Servicing Agreement; and (vi) any supplemental indenture pursuant to Section 9.1 or 9.2 of the Indenture; which notice
shall be given in the case of each of clauses (i) through (vi) promptly upon the Administrator being notified thereof by the Owner Trustee, the Indenture Trustee or the Servicer, as applicable. 

(c) No Action by Administrator. Notwithstanding anything to the contrary in this Agreement, the Administrator shall not
be obligated to, and shall not, take any action that the Issuer directs the Administrator not to take or which would result in a violation or breach of the Issuer’s covenants, agreements or obligations under any of the Issuer Documents. 

(d) Non-Ministerial Matters; Exceptions to Administrator Duties. 

(i) Notwithstanding anything to the contrary in this Agreement, with respect to matters that in the reasonable judgment of the
Administrator are non-ministerial, the Administrator shall not take any action unless, within a reasonable 

  

					
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	 	20[    ]-[    ] Administration Agreement

 
time before the taking of such action, the Administrator shall have notified the Issuer of the proposed action and the Issuer shall not have withheld consent or provided an alternative direction.
For the purpose of the preceding sentence, “non-ministerial matters” shall include, without limitation: 
 (A) the
initiation of any claim or lawsuit by the Issuer and the compromise of any action, claim or lawsuit brought by or against the Issuer; 

(B) the appointment of successor Note Registrars, successor Paying Agents, successor Indenture Trustees, a successor
Administrator or successor Servicers, or the consent to the assignment by the Note Registrar, Paying Agent or Indenture Trustee of its obligations under the Indenture; and 

(C) the removal of the Indenture Trustee. 

(ii) Notwithstanding anything to the contrary in this Agreement, the Administrator shall not be obligated to, and shall not,
(x) make any payments to the Noteholders under the Transaction Documents, (y) except as provided in the Transaction Documents, sell the Trust Estate or (z) take any other action that the Issuer directs the Administrator not to take on
its behalf. 
 2. Records. The Administrator shall maintain appropriate books of account and records relating to services performed
hereunder, which books of account and records shall be accessible for inspection upon reasonable written request by the Issuer, the Seller and the Indenture Trustee at any time during normal business hours. 

3. Compensation; Payment of Fees and Expenses. As compensation for the performance of the Administrator’s obligations under this
Agreement, the Administrator shall be entitled to receive $2,500 annually, which shall be solely an obligation of the Servicer; provided, however, notwithstanding the foregoing, such compensation shall in no event exceed the Servicing Fee for the
related annual period. The Administrator shall pay all expenses incurred by it in connection with its activities hereunder. 
 4.
Independence of the Administrator. For all purposes of this Agreement, the Administrator shall be an independent contractor and shall not be subject to the supervision of the Issuer with respect to the manner in which it accomplishes the
performance of its obligations hereunder. Unless expressly authorized by the Issuer, the Administrator shall have no authority to act for or to represent the Issuer in any way (other than as permitted hereunder) and shall not otherwise be deemed an
agent of the Issuer. 
 5. No Joint Venture. Nothing contained in this Agreement (i) shall constitute the Administrator, the
Issuer or the Owner Trustee as members of any partnership, joint venture, association, syndicate, unincorporated business or other separate entity, (ii) shall be construed to impose any liability as such on the Administrator, the Issuer or the
Owner Trustee or (iii) shall be deemed to confer on the Administrator, the Issuer or the Owner Trustee any express, implied or apparent authority to incur any obligation or liability on behalf of the other. 

  

					
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	 	20[    ]-[    ] Administration Agreement

 6. Other Activities of the Administrator. Nothing herein shall prevent the Administrator
or its Affiliates from engaging in other businesses or, in its sole discretion, from acting in a similar capacity as an Administrator for any other Person even though such Person may engage in business activities similar to those of the Issuer, the
Owner Trustee or the Indenture Trustee. 
 7. Representations and Warranties of the Administrator. The Administrator represents and
warrants to the Issuer and the Indenture Trustee as follows: 
 (a) Existence and Power. The Administrator is a
corporation validly existing and in good standing under the laws of its state of organization and has, in all material respects, full power and authority to own its assets and operate its business as presently owned or operated, and to execute, to
deliver and to perform its obligations under the Transaction Documents to which it is a party. The Administrator has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect
the ability of the Administrator to perform its obligations under the Transaction Documents or affect the enforceability or collectability of the Receivables or any other part of the Collateral. 

(b) Authorization and No Contravention. The execution, delivery and performance by the Administrator of the Transaction
Documents to which it is a party have been duly authorized by all necessary action on the part of the Administrator and do not contravene or constitute a default under (i) any applicable law, rule or regulation, (ii) its organizational
documents or (iii) any material agreement to which the Administrator is a party by which its properties are bound (other than violations of such laws, rules, regulations, organizational documents or agreements which do not affect the legality,
validity or enforceability of any of such agreements and which, individually or in the aggregate, would not materially and adversely affect the transactions contemplated by, or the Administrator’s ability to perform its obligations under, the
Transaction Documents). 
 (c) No Consent Required. No approval or authorization by, or filing with, any Governmental
Authority is required in connection with the execution, delivery and performance by the Administrator of any Transaction Document other than (i) UCC filings, (ii) approvals and authorizations that have previously been obtained and filings
that have previously been made and (iii) approvals, authorizations or filings which, if not obtained or made, would not have a material adverse effect on the enforceability or collectability of the Receivables or any other part of the
Collateral or would not materially and adversely affect the ability of the Administrator to perform its obligations under the Transaction Documents. 

(d) Binding Effect. Each Transaction Document to which the Administrator is a party constitutes the legal, valid and
binding obligation of the Administrator enforceable against the Administrator in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship
or other similar laws affecting the enforcement of creditors’ rights generally and, if applicable, the rights of creditors of corporations from time to time in effect or by general principles of equity. 

  

					
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	 	20[    ]-[    ] Administration Agreement

 8. Administrator Termination Events; Termination of the Administrator. 

(a) Subject to clause (d) below, the Administrator may resign its duties hereunder by providing the Issuer with at
least sixty (60) days’ prior written notice. 
 (b) Subject to Section 3.15 of the Indenture, the
Issuer may remove the Administrator without cause by providing the Administrator with at least sixty (60) days’ prior written notice. 

(c) The occurrence of any one of the following events (each, an “Administrator Termination Event”) shall also
entitle the Issuer, subject to Section 21 hereof, to terminate and replace the Administrator: 
 (i) any failure
by the Administrator to deliver or cause to be delivered any required payment to the Indenture Trustee for distribution to the Noteholders, which failure continues unremedied for five Business Days after discovery thereof by a Responsible Officer of
the Administrator or receipt by the Administrator of written notice thereof from the Indenture Trustee or Noteholders evidencing at least 25% of the Note Balance of the Outstanding Notes, voting together as a single class; 

(ii) any failure by the Administrator to duly observe or perform in any respect any other of its covenants or agreements in
this Agreement, which failure materially and adversely affects the rights of the Issuer or the Noteholders, and which continues unremedied for 90 days after discovery thereof by a Responsible Officer of the Administrator or receipt by the
Administrator of written notice thereof from the Indenture Trustee or Noteholders evidencing a majority of the aggregate principal amount of the Outstanding Notes, voting together as a single class; or 

(iii) the Administrator suffers a Bankruptcy Event; 

provided, however, that (A) if any delay or failure of performance referred to under clause (c)(i) above shall have been caused by
force majeure or other similar occurrence, the five Business Day grace period referred to in such clause (c)(i) shall be extended for an additional 60 calendar days and (B) if any delay or failure of performance referred to under
clause (c)(ii) above shall have been caused by force majeure or other similar occurrence, the 90 day grace period referred to in such clause (c)(ii) shall be extended for an additional 60 calendar days. The existence or occurrence of
any “material instance of noncompliance” (within the meaning of Item 1122 of Regulation AB) shall not create any presumption that any event in clause (i) or (ii) above has occurred. 

(d) If an Administrator Termination Event shall have occurred, the Issuer may, subject to Section 21 hereof, by
notice given to the Administrator and the Owner Trustee, terminate all or a portion of the rights and powers of the Administrator under this Agreement, including the rights of the Administrator to receive the annual fee for services hereunder for
all periods following such termination; provided, however that such termination shall not become effective until such time as the Issuer, subject to 

  

					
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Section 21 hereof, shall have appointed a successor Administrator in the manner set forth below. Upon any such termination or upon a resignation of the Administrator in accordance
with Section 8(a) hereof, all rights, powers, duties and responsibilities of the Administrator under this Agreement shall vest in and be assumed by any successor Administrator appointed by the Issuer, subject to Section 21
hereof, pursuant to a management agreement between the Issuer and such successor Administrator, containing substantially the same provisions as this Agreement (including with respect to the compensation of such successor Administrator), and the
successor Administrator is hereby irrevocably authorized and empowered to execute and deliver, on behalf of the Administrator, as attorney-in-fact or otherwise, all documents and other instruments, and to do or accomplish all other acts or things
necessary or appropriate to effect such vesting and assumption. Further, in such event, the Administrator shall use its commercially reasonable efforts to effect the orderly and efficient transfer of the administration of the Issuer to the new
Administrator. No resignation or removal of the Administrator shall be effective until a successor Administrator shall have been appointed by the Issuer. 

(e) The Issuer, subject to Section 21 hereof, may waive in writing any Administrator Termination Event by the
Administrator in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past Administrator Termination Event, such Administrator Termination Event shall cease to exist, and any Administrator Termination Event
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 Administrator Termination Event or impair any right consequent thereon. 

9. Action upon Termination or Removal. Promptly upon the effective date of termination of this Agreement pursuant to
Section 8, or the removal or resignation of the Administrator pursuant to Section 8, the Administrator shall be entitled to be paid by the Servicer all fees accruing to it to the date of such termination or removal. 

10. Liens. The Administrator will not directly or indirectly create, suffer or allow to exist any Lien on the Collateral other than
Permitted Liens. 
 11. Notices. All demands, notices and communications hereunder shall be in writing and shall be delivered or
mailed by registered or certified first class United States mail, postage prepaid, hand delivery, prepaid courier service, or by facsimile or by electronic transmission, and addressed in each case as specified on Schedule I to the Sale and
Servicing Agreement or at such other address as shall be designated by any of the specified addressees in a written notice to the other parties hereto. Delivery shall occur only upon receipt or reported tender of such communication by an officer of
the recipient entitled to receive such notices located at the address of such recipient for notices hereunder. 

  

					
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 12. Amendments. 

(a) Any term or provision of this Agreement may be amended by the Administrator without the consent of the Indenture Trustee,
any Noteholder, the Issuer, [the Swap Counterparty,] the Owner Trustee or any other Person subject to the satisfaction of one of the following conditions: 

(i) the Administrator delivers an Opinion of Counsel to the Indenture Trustee to the effect that such amendment will not
materially and adversely affect the interests of the Noteholders; or 
 (ii) the Rating Agency Condition is satisfied with
respect to such amendment and the Administrator notifies the Indenture Trustee in writing that the Rating Agency Condition is satisfied with respect to such amendment; 

[provided, that such amendment shall not materially and adversely affect the rights or obligations of the Swap Counterparty or the
Issuer under the Interest Rate Swap Agreement unless the Swap Counterparty shall have consented in writing to such amendment (which consent shall not be unreasonably withheld or delayed)]. 

(b) This Agreement may also be amended from time to time by the Issuer, the Administrator and the Indenture Trustee, with the
consent of the Holders of Notes evidencing not less than a majority of the aggregate principal amount of the Controlling Class, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this
Agreement or of modifying in any manner the rights of the Noteholders[; provided, that such amendment shall not materially and adversely affect the rights or obligations of the Swap Counterparty or the Issuer under the Interest Rate Swap
Agreement unless the Swap Counterparty shall have consented in writing to such amendment (which consent shall not be unreasonably withheld or delayed)]. It will not be necessary for the consent of Noteholders to approve the particular form of any
proposed amendment or consent, but it will be sufficient if such consent approves the substance thereof. The manner of obtaining such consents (and any other consents of Noteholders provided for in this Agreement) and of evidencing the authorization
of the execution thereof by Noteholders will be subject to such reasonable requirements as the Indenture Trustee may prescribe, including the establishment of record dates pursuant to the Depository Agreement. 

(c) Any term or provision of this Agreement may also be amended from time to time by the Administrator for the purpose of
conforming the terms of this Agreement to the description thereof in the Prospectus or, to the extent not contrary to the Prospectus, to the description thereof in an offering memorandum with respect to the Non-Investment Grade Notes or the
Certificates without the consent of the Indenture Trustee, any Noteholder, the Issuer, the Owner Trustee or any other Person, provided, however, the Administrator shall provide written notification of the substance of such amendment to
the Issuer, the Owner Trustee and the Indenture Trustee and promptly after the execution of any such amendment, the Administrator shall furnish a copy of such amendment to the Issuer, the Owner Trustee and the Indenture Trustee. 

(d) Prior to the execution of any amendment pursuant to this Section 12, the Administrator shall provide written
notification of the substance of such amendment to each Rating Agency and the Owner Trustee; and promptly after the execution of any such amendment, the Administrator shall furnish a copy of such amendment to each Rating

  

					
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	 	20[    ]-[    ] Administration Agreement

 
Agency, the Owner Trustee and the Indenture Trustee; provided, that no amendment pursuant to this Section 12 shall be effective which affects the rights, protections or duties
of the Indenture Trustee or the Owner Trustee without the prior written consent of such Person (which consent shall not be unreasonably withheld or delayed). 

(e) Prior to the execution of any amendment to this Agreement, the Owner Trustee and the Indenture Trustee shall be entitled to
receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and that all conditions precedent to the execution and delivery of such amendment have been satisfied.
The Owner Trustee and the Indenture Trustee may, but shall not be obligated to, enter into any such amendment which adversely affects the Owner Trustee’s or the Indenture Trustee’s, as applicable, own rights, duties or immunities under
this Agreement. 
 (f) Notwithstanding subsections (a) and (b) of this Section 12, this
Agreement may only be amended by the Administrator if (i) the Majority Certificateholders consent to such amendment or (ii) such amendment shall not, as evidenced by an Officer’s Certificate of the Administrator or an Opinion of
Counsel delivered to the Indenture Trustee and the Owner Trustee, materially and adversely affect the interests of the Certificateholders. 

(g) Notwithstanding anything herein to the contrary, no amendment shall be made to this Agreement that would result in or cause
the Issuer (or any part thereof) to be treated, for United States federal income tax purposes, as an association (or a publicly traded partnership) taxable as a corporation or as other than a fixed investment trust described in Treasury Regulation
section 301.7701-4(c) that is treated as a grantor trust under subtitle A, chapter 1, subchapter J, part I, subpart E of the Code. 
 13.
Governing Law; Submission to Jurisdiction; Waiver of Jury Trial. 
 (a) THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE INTERNAL, SUBSTANTIVE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO CONFLICTS OF LAWS, OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 (b) Each
of the parties hereto hereby irrevocably and unconditionally: 
 (i) submits for itself and its property in any legal action
or proceeding relating to this Agreement or any documents executed and delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts of the State of
New York, the courts of the United States of America for the Southern District of New York and appellate courts from any thereof; 

  

					
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	 	20[    ]-[    ] Administration Agreement

 (ii) consents that any such action or proceeding may be brought and maintained in
such courts and waives any objection that it may now or hereafter have to the venue of such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 

(iii) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered
or certified mail (or any substantially similar form of mail), postage prepaid, to such Person at its address determined in accordance with Section 11 of this Agreement; 

(iv) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or
shall limit the right to sue in any other jurisdiction; and 
 (v) to the extent permitted by applicable law, each party
hereto irrevocably waives all right of trial by jury in any action, proceeding or counterclaim based on, or arising out of, under or in connection with this Agreement, any other Transaction Document, or any matter arising hereunder or thereunder.

 14. Headings. The section headings hereof have been inserted for convenience of reference only and shall not be construed to
affect the meaning, construction or effect of this Agreement. 
 15. Counterparts. This Agreement may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but all of such counterparts shall together constitute but one and the same instrument. 

16. Entire Agreement. The Transaction Documents contain a final and complete integration of all prior expressions by the parties hereto
with respect to the subject matter thereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter thereof, superseding all prior oral and written understandings. There are no unwritten agreements among
the parties with respect to the transactions described in the Transactions Documents. 
 17. Severability of Provisions. If any one
or more of the covenants, agreements, provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements,
provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement. 

18. Not Applicable to Santander Consumer in Other Capacities; Merger of Administrator. 

(a) Nothing in this Agreement shall affect any obligation Santander Consumer may have in any other capacity. 

  

					
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 (b) Any entity (i) into which the Administrator may be merged or converted
or with which it may be consolidated, to which it may sell or transfer its business and assets as a whole or substantially as a whole or any entity resulting from any merger, sale, transfer, conversion or consolidation to which the Administrator
shall be a party, or any entity succeeding to the business of the Administrator or (ii) more than 50% of the voting stock or voting power and 50% or more of the economic equity of which is owned directly or indirectly by Banco Santander, S.A.
and which executes an agreement of assumption to perform every obligation of the Administrator under this Agreement, shall be the successor to the Administrator under this Agreement, in each case, without the execution or filing of any paper of any
further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. 
 19. Benefits of the
Administration Agreement. Nothing in this Agreement, expressed or implied, shall give to any Person other than the parties hereto and their successors hereunder, the Owner Trustee, any separate trustee or co-trustee appointed under
Section 6.10 of the Indenture[, the Swap Counterparty] and the Noteholders, any benefit or any legal or equitable right, remedy or claim under this Agreement. For the avoidance of doubt, the Owner Trustee is a third party beneficiary of
this Agreement and is entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it were a party hereto. 

20. Delegation of Duties. The Administrator may, at any time without notice or consent, delegate (a) any or all of its duties
under the Transaction Documents to any of its Affiliates or (b) specific duties to sub-contractors or other professional services firms (including accountants, outside legal counsel or similar concerns) who are in the business of performing
such duties; provided, that no such delegation shall relieve the Administrator of its responsibility with respect to such duties and the Administrator shall remain obligated hereunder as if the Administrator alone were performing such duties.

 21. Assignment. Each party hereto hereby acknowledges and consents to the 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 of all of the Issuer’s rights under this Agreement. In addition, the Administrator hereby acknowledges and agrees that for so long as
any Notes are outstanding, the Indenture Trustee will have the right to exercise all waivers and consents, rights, remedies, powers, privileges and claims of the Issuer under this Agreement in the event the Issuer shall fail to exercise the same.

 22. Nonpetition Covenant. Each party hereto agrees that, prior to the date which is one year and one day after payment in full of
all obligations of each Bankruptcy Remote Party in respect of all securities issued by any Bankruptcy Remote Party (i) such party shall not authorize any Bankruptcy Remote Party to commence a voluntary winding-up or other voluntary case or
other Proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect in any jurisdiction or seeking the
appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any substantial part of its property or to consent to any such relief or to the appointment of or
taking possession by any such official in an involuntary case or other Proceeding commenced against such Bankruptcy Remote Party, or to make a general assignment for the 

  

					
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	 	20[    ]-[    ] Administration Agreement

 
benefit of, its creditors generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence, join with any other Person in commencing
or institute with any other Person, any Proceeding against such Bankruptcy Remote Party under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. 

23. Limitation of Liability. It is expressly understood and agreed by the parties that (a) this document is executed and delivered
by [                    ], not individually or personally, but solely as Owner Trustee of the Issuer, in the exercise of the powers and
authority conferred and vested in it, pursuant to the Trust Agreement, (b) each of the representations, warranties, covenants, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal
representations, warranties, covenants undertakings and agreements by [                    ] but is made and intended for the purpose of
binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on [                    ],
individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto and
(d) under no circumstances shall [                    ] be personally liable for the payment of any indebtedness or expenses of the
Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or under the Notes or any of the other Transaction Documents or in any of the certificates,
notices or agreements delivered pursuant thereto, as to all of which recourse shall be had solely to the assets of the Issuer. 
 24.
[Limitation of Rights. All of the rights of the Swap Counterparty in, to and under this Agreement, if any, shall terminate upon the termination of the Interest Rate Swap Agreement in accordance with the terms thereof and the payment in full
of all amounts owing to the Swap Counterparty under such Interest Rate Swap Agreement.] 
 [SIGNATURES ON NEXT PAGE] 

  

					
		  	11
	 	20[    ]-[    ] Administration Agreement

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

			
	DRIVE AUTO RECEIVABLES TRUST 20[     ]-[     ]
	
	By:
[                                        
], not in its individual capacity but solely as Owner Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	

  

					
		  	S-1
	 	20[    ]-[    ] Administration Agreement

 
			
	SANTANDER CONSUMER USA INC., as Administrator
		
	By:	 	  

	Name:	 	
	Title:	 	

  

					
		  	S-2
	 	20[    ]-[    ] Administration Agreement

 
			
	[                    ], as Indenture Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	

  

					
		  	S-3
	 	20[    ]-[    ] Administration Agreement

 Joinder of Servicer: 

SANTANDER CONSUMER USA INC., as Servicer, joins in this Agreement solely for purposes of Section 3. 

 

			
	SANTANDER CONSUMER USA INC., as Servicer
		
	By:	 	  

	Name:	 	
	Title:	 	

  

					
		  	S-4
	 	20[    ]-[    ] Administration AgreementEX-10.4

 Exhibit 10.4 

SCHEDULE 
 to the 

MASTER AGREEMENT 
 dated as
of [                    ] 
 between 

[                    ].
(“Party A”) 
 and 

DRIVE AUTO RECEIVABLES TRUST
[                    ] (“Party B”) 
  

 
 Part 1.
Termination Provisions 
  

	(a)	“Specified Entity” means, with respect to Party A for all purposes of this Agreement, none specified, and with respect to Party B for all purposes of this Agreement, none specified.

  

	(b)	“Specified Transaction” has its meaning as defined in Section 14 of this Agreement. 

  

	(c)	The “Automatic Early Termination” provision of Section 6(a) of this Agreement does not apply to Party A or Party B. 

 

	(d)	The “Transfer to Avoid Early Termination” provision of Section 6(b)(ii) shall be amended by deleting the words “or if a Tax Event upon Merger occurs and the Burdened Party is the
Affected Party.” 

  

	(e)	Payments on Early Termination. Except as otherwise provided in this Schedule, “Market Quotation” and the “Second Method” apply. In the case of any Terminated Transaction that is, or is subject
to, any unexercised option, the words “economic equivalent of any payment or delivery” appearing in the definition of “Market Quotation” shall be construed to take into account the economic equivalent of the option.

  

	(f)	“Termination Currency” means United States Dollars. 

  

	(g)	Timing of Party B Termination Payment. If an amount calculated as being due in respect of an Early Termination Date under Section 6(e) of this Agreement is an amount to be paid by Party B to Party A then,
notwithstanding the provisions of Section 6(d)(ii) of this Agreement, such amount will be payable on the first distribution date for the Notes (“Distribution Date”) following the date on which the payment would have been payable as
determined in accordance with Section 6(d)(ii); provided that if the date on which the payment would have been payable as determined in accordance with Section 6(d)(ii) is a Distribution Date, then the payment will be payable on the
date determined in accordance with Section 6(d)(ii). 

	(h)	Limitation on Defaults by Party A and Party B. The Events of Default specified in Section 5 of this Agreement shall not apply to Party A or Party B except for the following: 

 

	 	(i)	Section 5(a)(i) of this Agreement (Failure to Pay or Deliver) shall be applicable to Party A and Party B, subject to the provisions of the last paragraph hereof; 

 

	 	(ii)	With respect to Party A only, Section 5(a)(ii) of this Agreement (Breach of Agreement); provided that Section 5(a)(ii) will not apply to Party A with respect to Party A’s failure to comply with its
obligations under Part 5(b)(ii) or 5(b)(iii) herein or under the Credit Support Annex; 

  

	 	(iii)	With respect to Party A only, Section 5(a)(iii) of this Agreement (Credit Support Default) subject to the provisions of the last paragraph hereof; provided that Section 5(a)(iii)(1) shall apply to Party
B with respect to Party B’s obligations under Paragraph 3(b) of any Credit Support Annex; 

  

	 	(iv)	With respect to Party A only, Section 5(a)(iv) of this Agreement (Misrepresentation); 

  

	 	(v)	With respect to Party A only, Section 5(a)(vi) of this Agreement (Cross Default). For the purposes of this Part 1 h(v), “Threshold Amount” shall mean, with respect to Party A,
[    ]; “Specified Indebtedness,” with respect to Party A, shall have the meaning specified in Section 14, provided that Specified Indebtedness shall not include deposits received in the course
of Party A’s ordinary banking business; 

  

	 	(vi)	Section 5(a)(vii) of this Agreement (Bankruptcy) shall apply to Party A and Party B; provided that clauses (2), (7) and (9) thereof shall not apply with respect to Party B, provided further
that clause (4) shall not apply to Party B to the extent that it refers to proceedings or petitions instituted or presented by Party A or any of its Affiliates, provided further that clause (6) shall not apply to Party B to the
extent that it refers to (i) any appointment that is effected by or pursuant to the Transaction Documents or (ii) any appointment to which Party B has not become subject, and provided further that clause (8) shall not apply to
Party B to the extent that clause (8) relates to clauses (2), (4), (6) and (7) (except to the extent that such provisions are not disapplied to Party B); and 

 

	 	(vii)	Section 5(a)(viii) of this Agreement (Merger Without Assumption) shall be applicable to Party A and Party B. 

Notwithstanding Sections 5(a)(i) and 5(a)(iii) of this Agreement, any failure by Party A to comply with or perform any obligation to be
complied with or performed by Party A under the Credit Support Annex shall not be an Event of Default unless (i) a Moody’s Second Trigger Downgrade Event has occurred and at least 30 Local Business Days have elapsed since the last time
Moody’s Second Trigger Downgrade Event occurred, and (ii) such failure is not remedied on or before the third Local Business Day after notice of such failure is given to Party A. 

  
 2 

	(i)	Limitation on Termination Events by Party A and Party B. The Termination Events specified in Section 5 of this Agreement shall not apply to Party A or Party B except for the following: 

 

	 	(i)	Section 5(b)(i) of this Agreement (Illegality); 

  

	 	(ii)	Section 5(b)(ii) of this Agreement (Tax Event); provided that Section 5(b)(ii) shall be amended by deleting the words “(x) any action taken by a taxing authority, or brought in a court of competent
jurisdiction, on or after the date on which a Transaction is entered into (regardless of whether such action is taken or brought with respect to a party to this Agreement) or (y)”; and 

 

	 	(iii)	Section 5(b)(iii) of this Agreement (Tax Event Upon Merger); provided that Party A shall not be entitled to designate an Early Termination Date by reason of a Tax Event upon Merger in respect of which it is
the Affected Party. 

  

	(j)	Additional Termination Events. The occurrence of any of the following events shall be an Additional Termination Event. 

  

	 	(i)	Regulation AB. Party A fails to comply with Part 5(r)(ii) of this Agreement. With respect to the foregoing Additional Termination Event, Party A shall be the sole Affected Party and all Transactions shall be
Affected Transactions. 

  

	 	(ii)	Termination. Party B or the Trust Estate cease to exist. With respect to the foregoing Additional Termination Event, Party B shall be the sole Affected Party and all Transactions shall be Affected Transactions.

  

	 	(iii)	Acceleration. The Trustee declares the Notes due and payable for any reason and such declaration is (or becomes) unrescindable or irrevocable. With respect to the foregoing Additional Termination Event, Party B
shall be the sole Affected Party and all Transactions shall be Affected Transactions. 

  

	 	(iv)	Redemption. Any mandatory redemption, auction call redemption, optional redemption, tax redemption, clean-up call or other prepayment in full or repayment in full of all Notes outstanding occurs under the
Indenture (or any notice is given to that effect and such mandatory redemption, auction call redemption, optional redemption, tax redemption, clean-up call or other prepayment or repayment is not capable of being rescinded); provided that,
for the avoidance of doubt, any such redemption, clean-up call or other prepayment shall be with respect to all outstanding Notes. With respect to the foregoing Additional Termination Event, Party B shall be the sole Affected Party and all
Transactions shall be Affected Transactions. 

  

	 	(v)	 Default. Any Event of Default (as defined in the Indenture) occurs under the Indenture (or any notice is
given by the Trustee or any other authorized party to that effect), the Notes have been declared due and payable under the Indenture (and such declaration has not been rescinded and annulled in accordance with the Indenture), and the Trustee, the
Noteholders or any other party authorized under 

  
 3 

	 	
the terms of the Indenture and Sale and Servicing Agreement and any other Transaction Documents, or by law: (1) sells, liquidates or disposes of any of the Collateral under the Indenture;
(2) institutes Proceedings for the collection of all amounts payable under the Indenture; (3) institutes Proceedings for the complete or partial foreclosure of the Indenture with respect to the Collateral; or (4) exercises any
remedies of a secured party under the UCC with respect to the Collateral, and any such action is not to judgment or final decree. With respect to the foregoing Additional Termination Event, Party B shall be the sole Affected Party and all
Transactions shall be Affected Transactions. 

  

	 	(vi)	Amendment. Any Transaction Document is amended or modified without the prior written consent of Party A (provided that the prior written consent of Party A is required under any such Transaction Document)
and such amendment or modification could have a materially adverse effect on Party A. With respect to the foregoing Additional Termination Event, Party B shall be the sole Affected Party and all Transactions shall be Affected Transactions.

  

	 	(vii)	Notwithstanding anything in Section 6 of this Agreement to the contrary, any amounts due as a result of the occurrence of an Additional Termination Event described in Parts 1(j)(v) through (ix) of this
Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date. With respect to the foregoing Additional Termination Event, Party B shall be the sole Affected Party and all Transactions shall be
Affected Transactions. 

  

	(k)	Calculations. Notwithstanding Section 6 of this Agreement, if an Early Termination Date is designated at a time when Party A is: (A) the sole Affected Party in respect of an Additional Termination Event
or a Tax Event Upon Merger; or (B) the Defaulting Party in respect of any Event of Default, the following shall apply: 

  

	 	(i)	The definition of “Market Quotation” shall be deleted in its entirety and replaced with the following: 

“Market Quotation” means, with respect to one or more Terminated Transactions, a Firm Offer which is (1) made by a
Reference Market-maker that is an Eligible Replacement, (2) for an amount that would be paid to Party B (expressed as a negative number) or by Party B (expressed as a positive number) in consideration of an agreement between Party B and such
Reference Market-maker to enter into a transaction (the “Replacement Transaction”) that would have the effect of preserving for such party the economic equivalent of any payment or delivery (whether the underlying obligation
was absolute or contingent and assuming the satisfaction of each applicable condition precedent) by the parties under Section 2(a)(i) in respect of such Terminated Transactions or group of Terminated Transactions that would, but for the
occurrence of the relevant Early Termination Date, have been required after that date, (3) made on the basis that Unpaid Amounts in respect of the Terminated Transaction or group of Transactions are to be excluded but, without limitation, any
payment or delivery that would, but for the relevant Early Termination Date, have been 

  
 4 

 
required (assuming satisfaction of each applicable condition precedent) after that Early Termination Date is to be included and (4) made in respect of a Replacement Transaction with terms
that are, in all material respects, no less beneficial for Party B than those of this Agreement (save for the exclusion of provisions relating to Transactions that are not Terminated Transactions) as determined by Party B. 

 

	 	(ii)	Settlement Amount. The definition of Settlement Amount shall be deleted in its entirety and replaced with the following: 

“Settlement Amount” means, with respect to any Early Termination Date, an amount (as determined by Party B) equal to:

  

	 	(a)	if, on or prior to such Early Termination Date, a Market Quotation for the relevant Terminated Transaction or group of Terminated Transactions is accepted by Party B so as to become legally binding, the Termination
Currency Equivalent of the amount (whether positive or negative) of such Market Quotation; 

  

	 	(b)	if, on such Early Termination Date, no Market Quotation for the relevant Terminated Transaction or group of Terminated Transactions has been accepted by Party B so as to become legally binding and one or more Market
Quotations from Approved Replacements have been communicated to Party B and remain capable of becoming legally binding upon acceptance by Party B, the Termination Currency Equivalent of the amount (whether positive or negative) of the lowest of such
Market Quotations (for the avoidance of doubt, (I) a Market Quotation expressed as a negative number is lower than a Market Quotation expressed as a positive number and (II) the lower of two Market Quotations expressed as negative numbers is
the one with the largest absolute value); or 

  

	 	(c)	if, on such Early Termination Date, no Market Quotation for the relevant Terminated Transaction or group of Terminated Transactions is accepted by Party B so as to become legally binding and no Market Quotation from an
Approved Replacement has been communicated to Party B and remains capable of becoming legally binding upon acceptance by Party B, Party B’s Loss (whether positive or negative and without reference to any Unpaid Amounts) for the relevant
Terminated Transaction or group of Terminated Transactions.” 

  

	 	(iii)	For the purpose of determining satisfaction of clause (4) of the definition of Market Quotation, Party B (and the Trustee on behalf of Party B) shall act in a commercially reasonable manner. 

  
 5 

	 	(iv)	At any time on or before the Latest Settlement Amount Determination Day at which two or more Market Quotations remain capable of becoming legally binding upon acceptance, Party B shall be entitled to accept only the
lowest of such Market Quotations. 

  

	 	(v)	If Party B requests Party A in writing to obtain Market Quotations, Party A shall use its reasonable efforts to do so before the Latest Settlement Amount Determination Day. 

 

	 	(vi)	If the Settlement Amount is a negative number, Section 6(e)(i)(3) of this Agreement shall be deleted in its entirety and replaced with the following: 

Second Method and Market Quotation. If Second Method and Market Quotation (without giving effect to the amendment to “Market
Quotation” in Part 1(k)(i)) apply, (1) Party B shall pay to Party A an amount equal to the absolute value of the Settlement Amount in respect of the Terminated Transactions, (2) Party B shall pay to Party A the Termination
Currency Equivalent of the Unpaid Amounts owing to Party A and (3) Party A shall pay to Party B the Termination Currency Equivalent of the Unpaid Amounts owing to Party B; provided that, (i) the amounts payable under (2) and
(3) shall be subject to netting in accordance with Section 2(c) of this Agreement and (ii) notwithstanding any other provision of this Agreement, any amount payable by Party A under (3) shall not be netted-off against any amount
payable by Party B under (1). 
  

	(l)	Designation of Early Termination Date. Notwithstanding any other provision of this Agreement, Party B shall not designate an Early Termination Date, and no transfer of any rights or obligations under this
Agreement shall be made by either party, unless each Rating Agency has been given prior written notice of such amendment, designation or transfer. 

  

	(m)	Amendments. This Agreement shall not be amended unless each Rating Agency has been given prior written notice and the Rating Agency Condition has been satisfied. 

Part 2. Tax Provisions  
  

	(a)	Payer Tax Representations. For the purpose of Section 3(e) of this Agreement, each party makes the following representation: None. 

 

	(b)	Gross Up. Section 2(d)(i)(4) shall not apply to Party B as X, and Section 2(d)(ii) shall not apply to Party B as Y, in each case such that Party B shall not be required to pay any additional amounts
referred to therein. 

  

	(c)	Indemnifiable Tax. The definition of “Indemnifiable Tax” in Section 14 is deleted in its entirety and replaced with the following: 

“Indemnifiable Tax” means, in relation to payments by Party A, any Tax and, in relation to payments by Party B, no Tax.

  
 6 

	(d)	Payee Tax Representations. For the purpose of Section 3(f) of this Agreement: 

  

	 	(i)	Party A makes the following representation(s): None 

  

	 	(ii)	Party B makes the following representation(s): None. 

  

	(e)	Tax Forms. 

  

	 	(i)	Delivery of Tax Forms. For the purpose of Section 4(a)(i), and without limiting Section 4(a)(iii), each party agrees to duly complete, execute and deliver to the other party the tax forms specified
below with respect to it (A) before the first Payment Date under this Agreement, (B) promptly upon reasonable demand by the other party and (C) promptly upon learning that any such form previously provided by Party has become obsolete
or incorrect. 

  

	 	(ii)	Tax Forms to be Delivered by Party A: None specified. 

  

	 	(iii)	Tax forms to be Delivered by Party B: 

 Party B will deliver a correct, complete and duly
executed U.S. Internal Revenue Service Form W-9 (or successor thereto) that eliminates U.S. federal back-up withholding tax on payments to Party B under this Agreement. 

Part 3. Documents 
  

	(a)	Delivery of Documents. When it delivers this Agreement, each party shall also deliver its Closing Documents to the other party in form and substance reasonably satisfactory to the other party. For each
Transaction, a party shall deliver, promptly upon request, a duly executed incumbency certificate for the person(s) executing the Confirmation for that Transaction on behalf of that party. 

 

	(b)	Closing Documents. 

  

	 	(i)	For Party A, “Closing Documents” means: 

  

	 	(A)	an opinion of Party A’s counsel addressed to Party B and the Rating Agencies in form and substance acceptable to Party B; 

  

	 	(B)	a duly executed incumbency certificate for each person executing this Agreement for Party A, or in lieu thereof, a copy of the relevant pages of its official signature book; and 

 

	 	(C)	each Credit Support Document (if any) specified for Party A in this Schedule, together with a duly executed incumbency certificate for the person(s) executing that Credit Support Document, or in lieu thereof, a copy of
the relevant pages of its official signature book. 

  
 7 

	 	(ii)	For Party B, “Closing Documents” means: 

  

	 	(A)	an opinion of Party B’s counsel addressed to Party A and the Rating Agencies in form and substance acceptable to Party A; 

  

	 	(B)	a duly executed copy of the Indenture and the other operative documents relating thereto and referred to therein, executed and delivered by the parties thereto; and 

 

	 	(C)	a duly executed certificate of an authorized officer of the Owner Trustee of Party B certifying the name and true signature of each person authorized to execute this Agreement and enter into Transactions for Party B.

 Part 4. Miscellaneous 
  

	(a)	Addresses for Notices. For purposes of Section 12(a) of this Agreement, all notices to a party shall, with respect to any particular Transaction, be sent to its address, telex number or facsimile number
specified in the relevant Confirmation, provided that any notice under Section 5 or 6 of this Agreement, and any notice under this Agreement not related to a particular Transaction, shall be sent to a party at its address, telex number
or facsimile number specified below; provided, further, that any notice under the Credit Support Annex shall be sent to a party at its address, telex number or facsimile number specified in the Credit Support Annex. 

To Party A: 
 To Party
B: 
 Drive Auto Receivables Trust
[                    ] 
 c/o 

 

	(b)	Process Agent. For the purpose of Section 13(c) of this Agreement: 

 Party A
appoints as its Process Agent: Not applicable 
 Party B appoints as its Process Agent: Not applicable. 

 

	(c)	Offices. The provisions of Section 10(a) will apply to this Agreement. 

  

	(d)	Multibranch Party. For the purpose of Section 10(c) of this Agreement, neither party is a Multibranch Party. 

  

	(e)	“Calculation Agent” means Party A; provided that if Party A is the Defaulting Party, the Calculation Agent shall be any designated party mutually agreed to by the parties until such time
as Party A is no longer the Defaulting Party. 

  
 8 

	(f)	Credit Support Document. 

  

	 	(i)	For Party A, the following is a Credit Support Document: the Credit Support Annex dated the date hereof (the “Credit Support Annex”) and duly executed and delivered by Party A and Party B and any
Eligible Guarantee, if applicable. 

  

	 	(ii)	For Party B, the following is a Credit Support Document: the Credit Support Annex. 

  

	(g)	Credit Support Provider. 

  

	 	(i)	For Party A, Credit Support Provider means the guarantor under any Eligible Guarantee, if any. 

  

	 	(ii)	For Party B, the Credit Support Provider means: none. 

  

	(h)	Governing Law. This Agreement will be governed by and construed in accordance with the law (and not the law of conflicts except with respect to §§ 5-1401 and 5-1402 of the New York General Obligations
Law) of the State of New York. 

  

	(i)	Waiver of Jury Trial. To the extent permitted by applicable law, each party irrevocably waives any and all right to trial by jury in any legal proceeding in connection with this Agreement, any Credit Support
Document to which it is a party, or any Transaction. 

  

	(j)	Netting of Payments. Section 2(c)(ii) of this Agreement will apply to all Transactions. 

  

	(k)	“Affiliate” has its meaning as defined in Section 14 of this Agreement, provided that Party B shall be deemed to have no Affiliates. 

 

	(l)	Severability. If any term, provision, covenant, or condition of this Agreement, or the application thereof to any party or circumstance, shall be held to be illegal, invalid or unenforceable (in whole or in part)
for any reason, the remaining terms, provisions, covenants and conditions hereof shall continue in full force and effect as if this Agreement had been executed with the illegal, invalid or unenforceable portion eliminated, so long as this Agreement
as so modified continues to express, without material change, the original intentions of the parties as to the subject matter of this Agreement and the deletion of such portion of this Agreement will not substantially impair the respective benefits
or expectations of the parties to this Agreement; provided, however, that this severability provision shall not be applicable if any provision of Section 1(c), 2, 5, 6 or 13 (or any definition or provision in Section 14 to
the extent it relates to, or is used in or in connection with any such Section) shall be held to be invalid or unenforceable. 

  

	(m)	Single Agreement. Section 1(c) shall be amended by adding the words “, the credit support annex entered into between Party A and Party B in relation to this Agreement” after the words “Master
Agreement.” 

  

	(n)	Local Business Day. The definition of Local Business Day in Section 14 of this Agreement shall be amended by the addition of the words “or any Credit Support Document” after “Section
2(a)(i)” and the addition of the words “or Credit Support Document” after “Confirmation”. 

  
 9 

 Part 5. Other Provisions 

 

	(a)	2006 ISDA Definitions. This Agreement and each Transaction are subject to the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. (the “2006 ISDA
Definitions”) and will be governed by the provisions of the 2006 ISDA Definitions. The provisions of the 2006 ISDA Definitions are incorporated by reference in, and shall form part of, this Agreement and each Confirmation. Any reference
to a “Swap Transaction” in the 2006 ISDA Definitions is deemed to be a reference to a “Transaction” for purposes of this Agreement or any Confirmation, and any reference to a “Transaction” in this Agreement or any
Confirmation is deemed to be a reference to a “Swap Transaction” for purposes of the 2006 ISDA Definitions. The provisions of this Agreement (exclusive of the 2006 ISDA Definitions) shall prevail in the event of any conflict between such
provisions and the 2006 ISDA Definitions. 

 “Transaction Documents” shall have the meaning ascribed to
such term in Appendix A of that certain Sale and Servicing Agreement dated as of [                    ], as amended, modified or supplemented from
time to time. 
 All other capitalized terms used herein and not defined herein shall have the definitions ascribed to them in the Indenture
and Credit Support Annex. 
  

	(b)	Additional Representations. Section 3 of this Agreement is hereby amended by adding the following Sections 3(g), (h), (i) and (j): 

 

	 	“(g)	Non-Reliance. For any Relevant Agreement: (i) it acts as principal and not as agent, (ii) it acknowledges that the other party acts only arm’s length and is not its agent, broker, advisor or
fiduciary in any respect, and any agency, brokerage, advisory or fiduciary services that the other party (or any of its affiliates) may otherwise provide to the party (or to any of its affiliates) excludes the Relevant Agreement, (iii) it is
relying solely upon its own evaluation of the Relevant Agreement (including the present and future results, consequences, risks, and benefits thereof, whether financial, accounting, tax, legal, or otherwise) and upon advice from its own professional
advisors, (iv) it understands the Relevant Agreement and those risks, has determined they are appropriate for it, and willingly assumes those risks, (v) it has not relied and will not be relying upon any evaluation or advice (including any
recommendation, opinion, or representation) from the other party, its affiliates or the representatives or advisors of the other party or its affiliates (except representations expressly made in the Relevant Agreement or an opinion of counsel
required thereunder); and (vi) if a party is acting as a Calculation Agent or Valuation Agent, it does so not as the other party’s agent or fiduciary, but on an arm’s length basis for the purpose of performing an administrative
function in good faith. 

  
 10 

 “Relevant Agreement” means this Agreement, each Transaction, each Confirmation,
any Credit Support Document, and any agreement (including any amendment, modification, transfer or early termination) between the parties relating thereto or to any Transaction. 

 

	 	(h)	Eligibility. It is an “eligible contract participant” within the meaning of the Commodity Exchange Act (as amended by the Commodity Futures Modernization Act of 2000). 

 

	 	(i)	FDIC Requirements. If it is a bank subject to the requirements of 12 U.S.C. § 1823(e), its execution, delivery and performance of this Agreement (including the Credit Support Annex and each Confirmation)
have been approved by its board of directors or its loan committee, such approval is reflected in the minutes of said board of directors or loan committee, and this Agreement (including the Credit Support Annex and each Confirmation) will be
maintained as one of its official records continuously from the time of its execution (or in the case of any Confirmation, continuously until such time as the relevant Transaction matures and the obligations therefor are satisfied in full).

  

	 	(j)	ERISA. It is not (i) an employee benefit plan as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) or a plan as defined in
Section 4975(e) of the Internal Revenue Code of 1986, as amended (the “Code”), subject to Title I of ERISA or Section 4975 of the Code, or a plan as so defined but which is not subject to Title I of ERISA or
Section 4975 of the Code (each, an “ERISA Plan”), (ii) a person or entity acting on behalf of an ERISA Plan, or (iii) a person or entity the assets of which constitute assets of an ERISA Plan.”

  

	(c)	Recorded Conversations. Each party and any of its Affiliates may electronically record any of its telephone conversations with the other party or with any of the other party’s Affiliates in connection with
this Agreement or any Transaction, and any such recordings may be submitted in evidence in any proceeding to establish any matters pertinent to this Agreement or any Transaction. 

 

	(d)	Transfers by Party A. 

  

	 	(i)	Section 7 of this Agreement shall not apply to Party A and, subject to Part 5(e)(ii), Party A shall not transfer, whether by way of security or otherwise, any interest or obligation in or under this Agreement
without first satisfying the Rating Agency Condition and without the prior written consent of Party B; provided that, to the extent that Party A or Party B makes a transfer pursuant to this Part 6, it shall first provide prior written notice
to the Rating Agencies of such transfer; provided that, to avoid any doubt, the parties hereto acknowledge and agree that notwithstanding any provision in the Agreement to the contrary (including, but not limited to Part 5(e)(ii)), with
respect to any and all transfers, the Rating Agency must in any event be satisfied. 

  
 11 

	 	(ii)	Subject to Part 1(1), Party A may (at its own cost) transfer its rights and obligations with respect to this Agreement to any other entity (a “Transferee”) that is an Eligible Replacement through a novation or
other assignment and assumption agreement or similar agreement in form and substance reasonably satisfactory to Party B; provided that: 

  

	 	(A)	the Transferee contracts with Party B on terms that (x) are identical to the terms of this Agreement in respect of any obligation (whether absolute or contingent) to make payment or delivery after the effective
date of such transfer and (y) insofar as they do not relate to payment or delivery obligations, are, in all material respects, no less beneficial for Party B than the terms of this Agreement immediately before such transfer; and

  

	 	(B)	as of the date of such transfer the Transferee will not be required to withhold or deduct on account of a Tax from any payments under this Agreement unless the Transferee will be required to make payments of additional
amounts pursuant to Section 2(d)(i)(4) of this Agreement in respect of such Tax, (B) a Termination Event or Event of Default does not occur under this Agreement as a result of such transfer, and (C) Party A receives confirmation from
the Rating Agencies that transfer to the Transferee does not violate the Rating Agency Condition. Following such transfer, all references to Party A shall be deemed to be references to the Transferee. 

 

	 	(iii)	In determining whether or not a transfer satisfies the condition in Part 5(e)(ii)(A)(y) above, Party B shall act in a commercially reasonable manner. 

 

	 	(iv)	If an entity has made a Firm Offer (which remains capable of becoming legally binding upon acceptance) to be the transferee of a transfer to be made in accordance with Part 5(e)(ii) above, Party B shall, at Party
A’s written request and cost, take any reasonable steps required to be taken by it to effect such transfer. 

  

	 	(v)	Section 5(e)(ii) shall be amended by (i) replacing the words “all its rights and obligations under this Agreement in respect of the Affected Transactions to another of its Offices or Affiliates so that
such Termination Event ceases to exist” with the words “its rights and obligations under this Agreement in respect of the Affected Transactions in accordance with Part 5(e) of the Schedule (on the basis that each reference to
“Agreement” in Part 5(e) is replaced by the words “Agreement in respect of the Affected Transactions”)” and (ii) the deletion of the sentence: “Any such transfer by a party under this Section 6(b)(ii) will be
subject to and conditional upon the prior written consent of the other party, which consent will not be withheld if such other party’s policies in effect at such time would permit it to enter into transactions with the transferee on the terms
proposed.”. 

  

	 	(vi)	Following a transfer in accordance with Part 5(e)(ii), all references to Party A shall be deemed to be references to the Transferee. 

  
 12 

	 	(vii)	Except as specified otherwise in the documentation evidencing a transfer, a transfer of all the obligations of Party A made in compliance with this Part 5(e) will constitute an acceptance and assumption of such
obligations (and any related interests so transferred) by the transferee, a novation of the transferee in place of Party A with respect to such obligations (and any related interests so transferred), and a release and discharge by Party B of Party A
from, and an agreement by Party B not to make any claim for payment, liability, or otherwise against Party A with respect to, such obligations from and after the effective date of the transfer. 

 

	(e)	Permitted Security Interest. For purposes of Section 7 of this Agreement, Party A hereby consents to the Permitted Security Interest, subject to the provisions of paragraph (c) below. 

“Permitted Security Interest” means the collateral assignment by Party B of the Swap Collateral to the Trustee pursuant
to the Indenture, and the granting to the Trustee of a security interest in the Swap Collateral pursuant to the Indenture. 

“Swap Collateral” means all right, title and interest of Party B in this Agreement, each Transaction hereunder, and all
present and future amounts payable by Party A to Party B under or in connection with this Agreement or any Transaction governed by this Agreement, whether or not evidenced by a Confirmation, including, without limitation, any transfer or termination
of any such Transaction. 
 “Trustee” means
[                    ] or any successor acting as indenture trustee pursuant to the Indenture. 

 

	(f)	Effect of Permitted Security Interest. 

  

	 	(i)	Notwithstanding the Permitted Security Interest, Party B shall not be released from any of its obligations under this Agreement or any Transaction, and Party A may exercise its rights and remedies under this Agreement
without notice to, or the consent of the Trustee or any Noteholder except as otherwise expressly provided in this Agreement. 

  

	 	(ii)	Party A’s consent to the Permitted Security Interest is expressly limited to the Trustee for the benefit of the secured parties under the Indenture, and Party A does not consent to the sale or transfer by the
Trustee of the Swap Collateral to any other person or entity (other than a successor to the Trustee under the Indenture acting in that capacity). 

  

	 	(iii)	 Party B hereby acknowledges that, as a result of the Permitted Security Interest, all of its rights under this
Agreement, including any Transaction, have been assigned to the Trustee pursuant to the Indenture and notwithstanding any other provision in this Agreement, Party B may not take any action hereunder to exercise any of such rights without the prior
written consent of the Trustee, including, without limitation, providing any notice under this Agreement the effect of which would be to cause an Early Termination Date to occur or be deemed to occur. If Party B gives any notice to Party A for the
purposes of 

  
 13 

	 	
exercising any of Party B’s rights under this Agreement, Party A shall have the option of treating that notice as void unless that notice is signed by the Trustee acknowledging its consent
to the provisions of that notice. Nothing herein shall be construed as requiring the consent of the Owner Trustee, the Trustee or any Noteholder for the performance by Party B of any of its obligations hereunder. 

 

	 	(iv)	Except as expressly provided in this Agreement for any transfer (as provided in Part 6 hereof), Event of Default, Termination Event, Additional Termination Event, Party A and Party B may not enter into any agreement to
dispose of any Transaction, whether in the form of a termination, unwind, transfer or otherwise without the prior written consent of the Trustee. 

  

	 	(v)	Except as expressly provided in this Agreement, no amendment, modification, or waiver in respect of this Agreement will be effective unless (A) evidenced by a writing executed by each party hereto, and (B) the
Trustee has acknowledged their consent thereto in writing. 

  

	(g)	Payments. All payments to Party B under this Agreement or any Transaction shall be made to the appropriate account under the Transaction Documents. 

 

	(h)	Set-off. Except as otherwise provided in this Schedule, Party A and Party B hereby waive any and all right of setoff with respect to any amounts due under this Agreement or any Transaction, provided that
nothing herein shall be construed to waive or otherwise limit the netting provisions contained in Sections 2(c) and 6 of this Agreement or the setoff rights contained in the Credit Support Annex. Section 6(e) shall be amended by the deletion of
the following sentence: “The amount, if any, payable in respect of an Early Termination Date and determined pursuant to this Section will be subject to any Setoff”. 

 

	(i)	Indenture. 

  

	 	(i)	Party B hereby acknowledges that Party A is a secured party under the Indenture with respect to this Agreement and a third-party beneficiary under the Indenture and Party B agrees for the benefit of Party A that neither
it nor any other Person will take any action (whether in the form of an amendment, a modification, supplement, waiver, approval, consent or otherwise) which may have a material adverse effect with respect to the rights, interest or benefits granted
to Party A under the Indenture with respect to this Agreement, whether or not this Agreement is specifically referred to or identified therein without the prior written consent of Party A (to the extent such consent is required under the Indenture).

 “Indenture” means that certain Indenture, by and among Party B as Issuer, and the Trustee, dated as
of [                    ], as the same may be amended, modified, supplemented or restated from time to time. 

 

	 	(ii)	 On the date Party B executes and delivers this Agreement and on each date on which a Transaction is entered into,
Party B hereby represents and warrants to Party A: that the Indenture is in full force and effect; that Party B is not party to 

  
 14 

	 	
any separate agreement with any of the parties to the Indenture that would have the effect of diminishing or impairing the rights, interests or benefits that have been granted to Party A under,
and which are expressly set forth in, the Indenture; that Party B’s obligations under this Agreement are secured under the Indenture; that this Agreement constitutes a “Swap Agreement” under the Transaction Documents
applicable to it; that each Transaction entered into under this Agreement is a Swap Agreement under the Transaction Documents applicable to it; that Party A constitutes a Swap Provider under the Transaction Documents applicable to it; that no Event
of Default has occurred and is continuing as defined in the Transaction Documents applicable to it; that nothing herein violates or conflicts with any of the provisions of the Transaction Documents applicable to it or any other documents executed in
connection therewith. In addition, on each date on which a Transaction is entered into, Party B hereby represents and warrants to Party A: that the Transaction meets all of the requirements under the Transaction Documents applicable to it and does
not violate or conflict with any of the provisions of the Transaction Documents applicable to it or any other documents executed in connection therewith; and that under the terms of the Transaction Documents applicable to it, neither the consent of
the Owner Trustee, the Trustee nor of any of the Noteholders under the Transaction Documents is required for Party B to enter into that Transaction or for Party A to be entitled for that Transaction to the rights, interests and benefits granted to
Party A under the Transaction Documents. 

  

	 	(iii)	Party B will provide at least ten days’ prior written notice to Party A of any proposed amendment or modification to the Transaction Documents. 

 

	(j)	Consent to Notice & Communications. Party B hereby consents to the giving to the Trustee of notice by Party A of Party A’s address and telecopy and telephone numbers for all purposes of the
Transaction Documents, and in addition, Party A shall also be entitled at any time to provide the Trustee with copies of this Agreement, including all Confirmations. In addition, Party A shall not be precluded from communicating with the Trustee or
any party to, or any third party beneficiary under, the Transaction Documents for the purpose of exercising, enforcing or protecting any of Party A’s rights or remedies under this Agreement or any rights, interests or benefits granted to Party
A under the Transaction Documents. 

  

	(k)	 No Bankruptcy Petition. Without impairing any right afforded to it under the Transaction Documents as a
third party beneficiary, Party A shall not institute against or cause any other person to institute against, or join any other person in instituting against the Trust any bankruptcy, reorganization, arrangement, insolvency or liquidation
proceedings, or other proceedings under any federal or state bankruptcy, dissolution or similar law, for a period of one year and one day following indefeasible payment in full of the Notes. Nothing shall preclude, or be deemed to stop, Party A
(i) from taking any action prior to the expiration of the aforementioned one year and one day period, or if longer the applicable preference period then in effect, in (A) any case or proceeding voluntarily filed or commenced by Party B or
(B) any involuntary insolvency proceeding filed or commenced by a Person other than Party A, or (ii) from commencing against 

  
 15 

	 	
Party B or any of the Collateral any legal action which is not a bankruptcy, reorganization, arrangement, insolvency, moratorium, liquidation or similar proceeding. The provisions of this
paragraph shall survive termination of this Agreement. 

  

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

  

	(m)	Party A Rights Solely Against Collateral. The liability of Party B to Party A hereunder is limited in recourse to the assets of the Trust, and to distributions of interest proceeds and principal proceeds thereon
applied in accordance with the terms of the Indenture. Upon application of and exhaustion of all of the assets of the Trust (and proceeds thereof) in accordance with the Indenture, Party A shall not be entitled to take any further steps against
Party B to recover any sums due but still unpaid hereunder or thereunder, all claims in respect of which shall be extinguished. Notwithstanding the foregoing or anything herein to the contrary, Party A shall not be precluded from declaring an Event
of Default or from exercising any other right or remedy as set forth in this Agreement or the Indenture. The provisions of this paragraph shall survive termination of this Agreement. 

 

	(n)	Change of Account. Section 2(b) of this Agreement is hereby amended by the addition of the words “to another account in the same legal and tax jurisdiction as the original account” following the
word “delivery” in the first line thereof. 

  

	(o)	Notice of Certain Events or Circumstances. Each party agrees, upon learning of the occurrence or existence of any event or condition that constitutes (or that with the giving of notice or passage of time or both
would constitute) an Event of Default or Termination Event with respect to such party, promptly to give the other party notice of such event or condition (or, in lieu of giving notice of such event or condition in the case of an event or condition
that with the giving of notice or passage of time or both would constitute an Event of Default or Termination Event with respect to the party, to cause such event or condition to cease to exist before becoming an Event of Default or Termination
Event); provided that failure to provide notice of such event or condition pursuant to this provision shall not constitute an Event of Default or a Termination Event. Each party agrees to provide to the other party any other notice reasonably
expected to be provided to facilitate compliance with the terms of this Agreement and the Credit Support Document. 

  
 16 

	(p)	Regarding Party A. Party B acknowledges and agrees that Party A has had and will have no involvement in and, accordingly Party A accepts no responsibility for: (i) the establishment, structure, or choice of
assets of Party B; (ii) the selection of any person performing services for or acting on behalf of Party B; (iii) the selection of Party A as the Counterparty; (iv) the terms of the Notes, (v) other than with respect to the
Prospectus Information (as defined herein), the preparation of or passing on the disclosure and other information contained in any offering circular or offering document for the Notes, the Transaction Documents, or any other agreements or documents
used by Party B or any other party in connection with the marketing and sale of the Notes; (vi) the ongoing operations and administration of Party B, including the furnishing of any information to Party B which is not specifically required
under this Agreement or (vii) any other aspect of Party B’s existence. 

  

	(q)	Compliance with Regulation AB. 

  

	 	(i)	Party A has been advised by Party B that Santander Consumer USA Inc. (the “Sponsor”), and Party B are required under Regulation AB under the Securities Act of 1933 and the Securities Exchange Act
of 1934, as amended (“Regulation AB”), to disclose certain information regarding Party A. Such information may include financial information to the extent required under Item 1115 of Regulation AB. 

 

	 	(ii)	 If required, upon written request, Party A shall provide to Party B or the Sponsor the applicable financial
information described under Item 1115(b) of Regulation AB (the “Reg AB Financial Information”) within ten (10) Business Days of receipt of a written request for such Reg AB Financial Information by the Sponsor or
Party B (the “Response Period”), so long as the Sponsor or Party B has reasonably determined, in good faith, that such information is required under Regulation AB. In the event that Party A does not provide any such Reg AB
Financial Information by the end of the related Response Period, Party A promptly, but in no event later than ten (10) Local Business Days following the end of such Response Period shall either, at Party A’s own expense (1) find a
replacement counterparty that (A) has the ability to provide its applicable Reg AB Financial Information, (B) satisfies the Rating Agency Condition, (C) is acceptable to Party B and (D) enters into an agreement with Party B
substantially in the form of this Agreement (such replacement counterparty, a “Reg AB Approved Entity”); (2) obtain a guaranty of Party A’s obligations under this Agreement from an affiliate of Party A that complies
with the financial information disclosure requirements of Item 1115 of Regulation AB, and cause such affiliate to provide Swap Financial Disclosure and any future Swap Financial Disclosure and other information pursuant to clause (1), such that
disclosure provided in respect of such affiliate will satisfy any disclosure requirements applicable to the Swap Provider, or (3) transfer Eligible Collateral to Party B’s Custodian in an amount (taking into account any amount posted
pursuant to the Credit Support Annex, if any) which is sufficient, as reasonably determined in good faith by the Sponsor, to reduce the aggregate significance percentage below 10% (or, so long as Party A is able to provide the Swap Financial
Disclosure 

  
 17 

	 	
required pursuant to Item 1115(b)(1) of Regulation AB, below 20%, in the event Party A is requested to provide the Swap Financial Disclosure required pursuant to Item 1115(b)(2) of
Regulation AB). 

  

	 	(iii)	If Party B or the Sponsor request (in writing) the Reg AB Financial Information from Party A, then the Sponsor or Party B will promptly (and in any event within one (1) Business Day of the date of the request for
the Reg AB Financial Information) provide Party A with a written explanation of how the significance percentage was calculated. 

  

	 	(iv)	Party A represents and warrants that the statements appearing in the Prospectus, dated [                    ], relating
to Drive Auto Receivables Trust [                    ] under the headings “The Swap Counterparty” (the “Prospectus
Information”) are true and correct in all material respects and do not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not
misleading. 

  

					
	(v)	  	  (A)	    	Party A shall indemnify and hold harmless Party B, the Sponsor, their respective directors or officers and any person controlling Party B or the Sponsor, from and against any and all losses, claims, damages and liabilities caused by
any untrue statement or alleged untrue statement of a material fact contained in the Prospectus Information or in any Reg AB Financial Information that Party A provides to Party B or the Sponsor pursuant to this Part 5(r) (the “Party A
Information”) or caused by any omission or alleged omission to state in the Party A Information a material fact required to be stated therein or necessary to make the statements therein not misleading.
			
		  	  (B)	    	The Sponsor shall indemnify and hold harmless Party A, its respective directors or officers and any person controlling Party A, from and against any and all losses, claims, damages and liabilities caused by any untrue statement or
alleged untrue statement of a material fact contained in the Prospectus referred to in clause (iv) above (the “Prospectus Disclosure”) or caused by any omission or alleged omission to state in the Prospectus Disclosure a
material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; provided, however, that the Sponsor shall not be liable in any such case
to the extent that any such loss, claim, damage or liability arises out of or is based upon any such untrue statement or alleged untrue statement in or omission or alleged omission made in any such Prospectus Disclosure in the Party A
Information.

  
 18 

	 	(vi)	Promptly after the indemnified party under Part 5(r)(v) receives notice of the commencement of any such action, the indemnified party will, if a claim in respect thereof is to be made pursuant to Part 5(r)(v), promptly
notify the indemnifying party in writing of the commencement thereof. In case any such action is brought against the indemnified party, and it notifies the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to
appoint counsel of the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party in any action for which indemnification is sought (in which case the indemnifying party shall not thereafter be
responsible for the fees and expenses of any separate counsel retained by the indemnified party except as set forth below); provided, however, that such counsel shall be reasonably satisfactory to the indemnified party. Notwithstanding
the indemnifying party’s election to appoint counsel to represent the indemnified party in an action, the indemnified party shall have the right to employ separate counsel (including local counsel), and the indemnifying party shall bear the
reasonable fees, costs and expenses of such separate counsel if (i) such indemnified party shall have been advised by such counsel that there may be one or more legal defenses available to it which are different from or additional to those
available to the indemnifying party and in the reasonable judgment of such counsel it is advisable for such indemnified party to employ separate counsel, (ii) a conflict or potential conflict exists (based on advice of counsel to the
indemnified party) between the indemnified party and the indemnifying party, (iii) the indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable
time after notice of the institution of such action or (iv) the indemnifying party shall authorize the indemnified party to employ separate counsel at the expense of the indemnifying party. The indemnifying party will not, without the prior
written consent of the indemnified party, settle or compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought
hereunder (whether or not the indemnified party is an actual or potential party to such claim or action) unless such settlement, compromise or consent includes an unconditional release of each indemnified party from all liability arising out of such
claim, action, suit or proceeding. No indemnified party will settle or compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution
may be sought hereunder without the consent of the indemnifying party, which consent shall not be unreasonably withheld. 

[Signatures follow] 

  
 19 

 TN WITNESS WHEREOF the parties have executed this Schedule on the respective dates specified
below with effect from the date specified on the first page of this document. 
  

							
	[                    
                    ]	 		 	DRIVE AUTO RECEIVABLES TRUST [                    ]
				
	By:
                                         
                   	 		 	By:	 	[                    
                    ], not in its individual capacity, but solely as Owner Trustee
				
		 		 		 	By:
                                         
                   
		 		 		 	       Name:
		 		 		 	       Title:
		 		 		 	       Date:

  
 20

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