Document:

EX-10.5

 Exhibit 10.5 

 
  

 
 FORM OF 

ADMINISTRATION AGREEMENT 
 among 
 FIFTH THIRD AUTO TRUST 20[ ]–[ ], 

as Issuer 

FIFTH THIRD BANK, 
 an Ohio banking corporation, 
 as Administrator 

and 

[            ], 

as Indenture Trustee 
 Dated as of [            ] 
  

 
  

 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 Replacement Events; Termination of the Administrator
	  	 	4	  
	 9.
	 	 Action upon Termination or Removal
	  	 	6	  
	 10.
	 	 Liens
	  	 	6	  
	 11.
	 	 Notices
	  	 	6	  
	 12.
	 	 Compliance with the FDIC Rule
	  	 	7	  
	 13.
	 	 Amendments
	  	 	7	  
	 14.
	 	 Governing Law; Submission to Jurisdiction; Waiver of Jury Trial
	  	 	8	  
	 15.
	 	 Headings
	  	 	9	  
	 16.
	 	 Counterparts
	  	 	9	  
	 17.
	 	 Entire Agreement
	  	 	9	  
	 18.
	 	 Severability of Provisions
	  	 	9	  
	 19.
	 	 Not Applicable to the Bank in Other Capacities
	  	 	9	  
	 20.
	 	 Benefits of the Administration Agreement
	  	 	10	  
	 21.
	 	 Delegation of Duties
	  	 	10	  
	 22.
	 	 Assignment
	  	 	10	  
	 23.
	 	 Nonpetition Covenant
	  	 	10	  
	 24.
	 	 Limitation of Liability
	  	 	11	  
	 25.
	 	 Other Interpretive Provisions
	  	 	11	  
	 26.
	 	 [Limitation of Rights]
	  	 	11	  

  
 i 

 THIS ADMINISTRATION AGREEMENT (as amended, supplemented or otherwise
modified and in effect from time to time, this “Agreement”) dated as of [            ], is among FIFTH THIRD AUTO TRUST 20[ ]-[ ], a Delaware statutory trust (the
“Issuer”), FIFTH THIRD BANK, an Ohio banking corporation, as administrator (the “the Bank” or in its capacity as administrator, 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 Agreement dated as of [            ] (as amended, supplemented or otherwise
modified and in effect from time to time, the “Sale Agreement”) by and between Fifth Third Holdings Funding, LLC (the “Seller”), as seller, and the Issuer, which contains rules as to usage that are applicable
herein. 
 W I T N E S S E T H : 
 WHEREAS, the Seller and [            ] (the “Owner Trustee”) have entered into the Amended and Restated Trust Agreement dated
as of [            ] (as amended, supplemented or otherwise modified and in effect from time to time, the “Trust Agreement”); 

WHEREAS, the Issuer has issued the Notes pursuant to the Indenture and the Certificate pursuant to the Trust Agreement
and has entered into certain agreements in connection therewith, including, (i) the Sale Agreement; (ii) the Servicing Agreement, (iii) the Indenture, (iv) the Note Depository Agreement, [(v) the Interest Rate Swap Agreement] and
(vi) the Trust Agreement (each of the agreements referred to in clauses (i) through (vi) 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 is required to perform certain duties;

 WHEREAS, the Issuer desires to have the Administrator perform certain of the duties of the Issuer, 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 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 under this Agreement and the Issuer Documents and the duties and obligations of the Issuer under the Issuer Documents; provided, however, except as otherwise provided
in the Issuer Documents, that the Administrator shall have no obligation to make any payment required to be made by the Issuer under 

  

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any Issuer Document. In addition, the Administrator shall consult with the Issuer and the Owner Trustee regarding the Issuer’s duties and obligations under the Issuer Documents. The
Administrator shall monitor the performance of the Issuer and shall advise the Issuer when action is necessary to comply with the Issuer’s duties and obligations under the Issuer Documents. Other than such items to be performed by the Owner
Trustee pursuant to Section 5.4 of the Trust Agreement and by the Paying Agent pursuant to Section 6.6(a) and (b) of the Indenture, the Administrator shall perform such calculations, and shall prepare for
execution by the Issuer or the Owner Trustee 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 to prepare,
execute, 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 to take pursuant to the Issuer Documents, and shall prepare, execute, file
and deliver on behalf of the Issuer or the Owner Trustee 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, on
behalf of the Issuer, shall give notice to each Rating Agency of (i) any material breach of the perfection representations, warranties and covenants contained in Exhibit C of the Sale Agreement and Schedule I of the Indenture;
(ii) the termination of, and/or appointment of a successor to, the Servicer pursuant to Sections 6.1 and 6.2 of the Servicing Agreement; (iii) any waiver of a Servicer Replacement Event pursuant to
Section 6.1(b) of the Servicing Agreement; (iv) any Officer’s Certificate of the Issuer delivered pursuant to Section 3.9 of the Indenture; (v) any Officer’s Certificate delivered pursuant to
Section 3.12 of the Indenture with respect to any Event of Default under the Indenture; (vi) any notice of Default pursuant to Section 6.5 of the Indenture; (vii) any resignation or removal of the Indenture Trustee
pursuant to Section 6.8 of the Indenture; (viii) any merger or consolidation of the Indenture Trustee pursuant to Section 6.9 of the Indenture; (ix) any supplemental indenture pursuant to Sections 9.1 or
9.2 of the Indenture; (x) any notice of merger, consolidation or succession of the Servicer pursuant to Section 5.3 of the Servicing Agreement; (xi) any amendment pursuant to Section 13 of this Agreement;
(xii) any merger or consolidation of the Seller pursuant to Section 3.3 of the Sale Agreement, in the case of each of (i) through (xii), which notice shall be given promptly upon the Administrator being notified
thereof by the Depositor, the Owner Trustee, the Indenture Trustee or the Servicer. 
 (c) Upon
dissolution of the Issuer, the Administrator shall wind up the business and affairs of the Issuer in accordance with Section 9.2 of the Trust Agreement. 

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

  
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 (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 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, successor Administrators or successor Servicers, or the consent to the assignment by the Note Registrar, the Paying Agent or the 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 or (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 and as reimbursement for its expenses related thereto, the Administrator shall be entitled to receive
$[            ] annually which shall be solely an obligation of the Servicer. 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 and the
Issuer 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 or the Issuer or (iii) shall be
deemed to confer on the Administrator or the Issuer any express, implied or apparent authority to incur any obligation or liability on behalf of the other. 
  

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 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 banking corporation validly existing and in good standing under the laws of its state of organization and has, in all material respects, all power
and authority to carry on its business as now conducted. 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 collectibility 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 (i) have been duly authorized by all necessary action on the part of the Administrator and (ii) do not contravene or constitute a default under (A) any applicable law,
rule or regulation, (B) its organizational documents or (C) any material agreement, contract, order or other instrument to which it is a party or its property is subject (other than violations 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 collectibility 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 banking corporations from time to time in effect or by general principles of equity. 

8. Administrator Replacement Events; Termination of the Administrator. 

 
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 (a) Subject to clause (d) below, the
Administrator may resign from its duties hereunder by providing the Issuer with at least sixty (60) days’ prior written notice. 
 (b) Subject to clauses (d) and (e) below, the Issuer may remove the Administrator without cause by providing the Administrator with at least sixty (60) days’ prior
written notice; provided, that, for so long as any Notes are Outstanding the Rating Agency Condition shall have been satisfied in connection therewith. 

(c) The occurrence of any one of the following events (each, an “Administrator Replacement
Event”) shall also entitle the Issuer, subject to Section 22 hereof, to terminate and replace the Administrator: 
 (i) any failure by the Administrator to deliver or cause to be delivered to the Indenture Trustee or the Owner Trustee for deposit into the Collection Account any payment required to be so delivered by
the Administrator under the terms of this Agreement, which failure continues unremedied for ten (10) Business Days after discovery thereof by a Responsible Officer of the Administrator or receipt by a Responsible Officer of the Administrator of
written notice thereof from the Indenture Trustee or Noteholders evidencing at least a majority of the Outstanding Note Balance, voting together as a single class (or, if no Notes are Outstanding, from the Majority Certificateholders); 

(ii) any failure by the Administrator to duly observe or perform in any material 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 ninety (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 at least a majority of the Outstanding Note Balance, voting together as a single class (or, if no Notes are Outstanding, by
the Majority Certificateholders); 
 (iii) any representation or warranty of the Administrator
made in this Agreement or any certificate delivered by the Administrator pursuant to this Agreement proves to have been incorrect in any material respect when made, which failure materially and adversely affects the rights of the Issuer or the
Noteholders, and which failure continues unremedied for ninety (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 at least a majority of the Outstanding Note Balance, voting together as a single class. 
 (iv) the Administrator suffers a Bankruptcy Event; 

provided, further, that any delay or failure of performance referred to under clauses (i), (ii) or
(iii) above for a period of 150 days will not constitute an Administrator Replacement Event if such delay or failure was caused by force majeure or other similar occurrence. The existence or occurrence of any “material instance of
noncompliance” 
  
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(within the meaning of Item 1122 of Regulation AB) shall not create any presumption that any event in clauses (i), (ii) or (iii) above has occurred.

 (d) If an Administrator Replacement Event shall have occurred, the Issuer may, subject to
Section 22 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 Section 22 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 22 hereof, pursuant to a management or administration 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 22 hereof, may waive in writing any Administrator Replacement Event by the Administrator in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past Administrator Replacement Event, such
Administrator Replacement Event shall cease to exist, and any Administrator Replacement 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 Replacement 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 and reimbursable expenses accruing to it to the date of such termination or removal. 

10. Liens. The Administrator will not directly or indirectly create, allow or suffer 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, by facsimile, or, if so provided on
Schedule I to the Sale Agreement, by electronic transmission, and addressed in each case as specified on Schedule I to the Sale Agreement or at such other address as shall be designated by any of the 

 
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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. 
 12. Compliance with
the FDIC Rule. The Administrator (i) shall perform the covenants set forth in Article XII of the Indenture applicable to it and (ii) shall facilitate compliance with Article XII of the Indenture by the Fifth Third
Parties. 
 13. 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 or an Officer’s Certificate 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 (and such consent shall be deemed to have been given if the Swap Counterparty does not object
in writing within ten (10) Business Days after receipt of a written request for such consent)]. 
 (b) This Agreement may also be amended from time to time by the Administrator and the Indenture Trustee, with the consent [(i)] of the Holders of Notes evidencing not less than a majority of the
Outstanding Note Balance voting as a single class [and (ii) the Majority certificateholders] voting as a single 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 [or the certificateholders[; 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 (and such consent shall be deemed to have been given if the Swap Counterparty does not object in writing within ten (10) Business Days
after receipt of a written request for such consent)]. It will not be necessary for the consent of Noteholders [or Certificateholders] 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 [and Certificateholders] provided for in this Agreement) and of evidencing the authorization of the execution thereof by Noteholders [and
Certificateholders] will be subject to such 
  

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reasonable requirements as the Indenture Trustee may prescribe, including the establishment of record dates pursuant to the Note Depository Agreement. 

(c) Prior to the execution of any amendment pursuant to this Section 13, 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
Agency, the Owner Trustee and the Indenture Trustee. 
 (d) 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 an
Officer’s Certificate of the Depositor or the Administrator 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 materially and adversely affects the Owner Trustee’s or the Indenture Trustee’s, as applicable, own rights, privileges, indemnities, duties or obligations under this Agreement, the Transaction Documents or
otherwise. 
 (e) [Notwithstanding subsection (a) of this Section 13,
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.] 
 14. 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 LAW,
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 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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 (ii) consents that any such Proceeding may be brought in
such courts and waives any objection that it may now or hereafter have to the venue of such Proceeding in any such court or that such 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 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 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. 
 15. 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. 
 16. Counterparts. This Agreement may be executed in any number of counterparts (including by way of electronic or facsimile transmission), 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. 
 17.
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 or written understandings. There are no unwritten agreements among the parties. 
 18. 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.

 19. Not Applicable to the Bank in Other Capacities. (a) Nothing in this Agreement shall affect
any obligation the Bank may have in any other capacity. 
 (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 
  
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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 Fifth Third Bancorp 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. 
 20. 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. 

21. 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. 
 22. Assignment. 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. 
 23. 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 benefit of, its creditors generally, any
party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence or join with any other Person in commencing 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. 
  
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 24. Limitation of Liability. Notwithstanding anything contained
herein to the contrary, this Agreement has been executed and delivered by [            ], not in its individual capacity but solely as Owner Trustee, and in no event shall it have any
liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder 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. Under no circumstances shall the Owner Trustee be personally liable for the payment of any indebtedness or expense of the Issuer or be liable for the breach or
failure of any obligations, representation, warranty or covenant made or undertaken by the Issuer under the Transaction Documents. For the purposes of this Agreement, in the performance of its duties or obligations hereunder, the Owner Trustee shall
be subject to, and entitled to the benefits of, the terms and provisions of Articles VI, VII and VIII of the Trust Agreement. 
 25. Other Interpretive Provisions. For purposes of this Agreement, unless the context otherwise requires: (a) accounting terms not otherwise defined in this Agreement, and accounting terms
partly defined in this Agreement to the extent not defined, shall have the respective meanings given to them under GAAP (provided, that, to the extent that the definitions in this Agreement and GAAP conflict, the definitions in this Agreement
shall control); (b) terms defined in Article 9 of the UCC as in effect in the relevant jurisdiction and not otherwise defined in this Agreement are used as defined in that Article; (c) the words “hereof,” “herein” and
“hereunder” and words of similar import refer to this Agreement as a whole and not to any particular provision of this Agreement; (d) references to any Article, Section, Schedule, Appendix or Exhibit are references to Articles,
Sections, Schedules, Appendices and Exhibits in or to this Agreement and references to any paragraph, subsection, clause or other subdivision within any Section or definition refer to such paragraph, subsection, clause or other subdivision of such
Section or definition; (e) the term “including” and all variations thereof means “including without limitation”; (f) except as otherwise expressly provided herein, references to any law or regulation refer to that law
or regulation as amended from time to time and include any successor law or regulation; (g) references to any Person include that Person’s successors and assigns; and (h) headings are for purposes of reference only and shall not
otherwise affect the meaning or interpretation of any provision herein. 
 26. [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] 

 
 Administration Agreement 

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 11 

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

			
	 FIFTH THIRD AUTO TRUST 20[ ]-[ ]

		
	 By:
	 	 [        ], not in its individual capacity but solely as Owner Trustee

		
	 By:
	 	 
	 Name:
	 	
	 Title:
	 	

  
 Administration
Agreement 
 (20[    ]-[    ]) 

  
 S-1

 
			
	 FIFTH THIRD BANK, an Ohio banking corporation, as Administrator

		
	 By:
	 	 
	 Name:
	 	
	 Title:
	 	

  
 Administration
Agreement 
 (20[    ]-[    ]) 

  
 S-2

 
			
	 [        ], not in its individual capacity but solely as Indenture Trustee

		
	 By:
	 	 
	 Name:
	 	
	 Title:
	 	

  
 Administration
Agreement 
 (20[    ]-[    ]) 

  
 S-3

 Joinder of Servicer: 

Fifth Third Bank, as Servicer, joins in this Agreement solely for purposes of Section 3. 

 

			
	 FIFTH THIRD BANK, as Servicer

		
	 By:
	 	 
	 Name:
	 	
	 Title:
	 	

  
 Administration
Agreement 
 (20[    ]-[    ]) 

  
 S-4EX-10.6

 Exhibit 10.6 

 
  

 
 FORM OF 

RECEIVABLES SALE AGREEMENT 
 dated as of [                    ] 

between 

[ORIGINATOR], 
 and 
 FIFTH THIRD HOLDINGS, LLC 

 
  

 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 ARTICLE I   DEFINITIONS AND USAGE
	  	 	1	  
			
	 SECTION 1.1
	  	 Definitions
	  	 	1	  
	 SECTION 1.2
	  	 Other Interpretive Provisions
	  	 	1	  
		
	 ARTICLE II   PURCHASE
	  	 	2	  
	 SECTION 2.1
	  	 Agreement to Sell and Contribute on the Closing Date
	  	 	2	  
	 SECTION 2.2
	  	 Consideration and Payment
	  	 	2	  
		
	 ARTICLE III   REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	 	2	  
			
	 SECTION 3.1
	  	 Representations and Warranties of [Originator]
	  	 	2	  
	 SECTION 3.2
	  	 Representations and Warranties of [Originator] as to each Receivable
	  	 	3	  
	 SECTION 3.3
	  	 Repurchase upon Breach
	  	 	4	  
	 SECTION 3.4
	  	 Protection of Title
	  	 	4	  
	 SECTION 3.5
	  	 Other Liens or Interests
	  	 	5	  
	 SECTION 3.6
	  	 Perfection Representations, Warranties and Covenants
	  	 	5	  
	 SECTION 3.7
	  	 [FDIC Rule; Official Record]
	  	 	5	  
	 SECTION 3.8
	  	 Compliance with the FDIC Rule
	  	 	6	  
	 SECTION 3.9
	  	 Merger or Consolidation of, or Assumption of the Obligations of, [Originator]
	  	 	6	  
	 SECTION 3.10
	  	 [Originator] May Own Notes
	  	 	6	  
		
	 ARTICLE IV   MISCELLANEOUS
	  	 	6	  
			
	 SECTION 4.1
	  	 Transfers Intended as Sale; Security Interest
	  	 	6	  
	 SECTION 4.2
	  	 Notices, Etc
	  	 	7	  
	 SECTION 4.3
	  	 Choice of Law
	  	 	8	  
	 SECTION 4.4
	  	 Headings
	  	 	8	  
	 SECTION 4.5
	  	 Counterparts
	  	 	8	  
	 SECTION 4.6
	  	 Amendment
	  	 	8	  
	 SECTION 4.7
	  	 Waivers
	  	 	9	  
	 SECTION 4.8
	  	 Entire Agreement
	  	 	9	  
	 SECTION 4.9
	  	 Severability of Provisions
	  	 	10	  
	 SECTION 4.10
	  	 Binding Effect
	  	 	10	  
	 SECTION 4.11
	  	 Acknowledgment and Agreement
	  	 	10	  
	 SECTION 4.12
	  	 Cumulative Remedies
	  	 	10	  
	 SECTION 4.13
	  	 Nonpetition Covenant
	  	 	10	  
	 SECTION 4.14
	  	 Submission to Jurisdiction; Waiver of Jury Trial
	  	 	11	  
	 SECTION 4.15
	  	 [Limitation of Rights]
	  	 	11	  
	 SECTION 4.16
	  	 Not Applicable to [Originator] in Other Capacities
	  	 	11	  

  
 -i-

 EXHIBITS 

 

			
	 Exhibit A
	  	 Form of Assignment Pursuant to Receivables Sale Agreement

	 Schedule I
	  	 Representations and Warranties with Respect to the Receivables

	 Schedule II
	  	 Perfection Representations, Warranties and Covenants

	 Schedule III
	  	 Schedule of [Originator] Receivables

 THIS RECEIVABLES SALE AGREEMENT is made and entered into as of
[            ] (as amended, restated, supplemented or otherwise modified and in effect from time to time, this “Agreement”) by [ORIGINATOR], a
[            ], and FIFTH THIRD HOLDINGS, LLC, a Delaware limited liability company (“FTH LLC”). 
 WITNESSETH: 
 WHEREAS, FTH LLC desires to purchase from
[Originator] a portfolio of motor vehicle receivables, including motor vehicle retail installment sale contracts and/or installment loans that are secured by new and used automobiles, light-duty trucks, vans and other motor vehicles; and 

WHEREAS, [Originator] is willing to sell such portfolio of motor vehicle receivables and related property to FTH LLC on
the terms and conditions set forth in this Agreement. 
 NOW, THEREFORE, in consideration of the premises and
the mutual agreements set forth herein, the parties hereto agree as follows: 
 ARTICLE I 

DEFINITIONS AND USAGE 
 SECTION 1.1 Definitions. Except as otherwise defined herein or as the context may otherwise require, capitalized terms used but not otherwise defined herein are defined in Appendix A to
the Sale Agreement, dated as of the date hereof (as from time to time amended, supplemented or otherwise modified and in effect, the “Sale Agreement”) between Fifth Third Holdings Funding, LLC, as seller, and Fifth Third Auto Trust
20[ ]-[ ], as issuer, which contains rules as to usage that are applicable herein. 
 SECTION 1.2 Other
Interpretive Provisions. For purposes of this Agreement, unless the context otherwise requires: (a) accounting terms not otherwise defined in this Agreement, and accounting terms partly defined in this Agreement to the extent not defined,
shall have the respective meanings given to them under GAAP (provided that, to the extent that the definitions in this Agreement and GAAP conflict, the definitions in this Agreement shall control); (b) terms defined in Article 9 of the UCC as
in effect in the relevant jurisdiction and not otherwise defined in this Agreement are used as defined in that Article; (c) the words “hereof,” “herein” and “hereunder” and words of similar import refer to this
Agreement as a whole and not to any particular provision of this Agreement; (d) references to any Article, Section, Schedule, Appendix or Exhibit are references to Articles, Sections, Schedules, Appendices and Exhibits in or to this Agreement
and references to any paragraph, subsection, clause or other subdivision within any Section or definition refer to such paragraph, subsection, clause or other subdivision of such Section or definition; (e) the term “including” and all
variations thereof means “including without limitation”; (f) except as otherwise expressly provided herein, references to any law or regulation refer to that law or regulation as amended from time to time and include any successor law
or regulation; (g) references to any Person include that Person’s successors and assigns and (h) headings are for purposes of reference only and shall not otherwise affect the meaning or interpretation of any provision hereof.

 Receivables Sale Agreement 
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 ARTICLE II 
 PURCHASE 
 SECTION 2.1 Agreement to Sell and Contribute on the
Closing Date. On the terms and subject to the conditions set forth in this Agreement, [Originator] does hereby transfer, assign, set over, sell, contribute and otherwise convey to FTH LLC without recourse (subject to the obligations herein) on
the Closing Date all of its right, title interest, claims and demands in, to and under the Receivables, the Collections after the Cut-Off Date, the Receivable Files and the Related Security relating thereto, whether now owned or hereafter acquired,
as evidenced by an assignment in the form of Exhibit A (“Assignment”) delivered on the Closing Date (the “[Originator] Sold Assets”). The sale, transfer, assignment and conveyance made hereunder does not constitute
and is not intended to result in an assumption by FTH LLC of any obligation of [Originator] to the Obligors, the Dealers, insurers or any other Person in connection with the Receivables or the other assets and properties conveyed hereunder or any
agreement, document or instrument related thereto. 
 SECTION 2.2 Consideration and Payment. In
consideration of the transfer of the [Originator] Sold Assets conveyed to FTH LLC on the Closing Date, FTH LLC shall pay in cash to [Originator] on such date an amount equal to the estimated fair market value of the [Originator] Sold Assets on the
Closing Date. 
 ARTICLE III 
 REPRESENTATIONS, WARRANTIES AND COVENANTS 
 SECTION 3.1
Representations and Warranties of [Originator]. [Originator] makes the following representations and warranties as of the Closing Date on which FTH LLC will be deemed to have relied in acquiring the [Originator] Sold Assets. The
representations and warranties will survive the conveyance of the [Originator] Sold Assets by to FTH LLC pursuant to this Agreement, the conveyance of the [Originator] Sold Assets by FTH LLC to the Seller pursuant to the Purchase Agreement, the
conveyance of the [Originator] Sold Assets by the Depositor to the Issuer pursuant to the Sale Agreement and the Grant thereof by the Issuer to the Indenture Trustee pursuant to the Indenture: 

(a) Existence and Power. [Originator] is a
[            ] validly existing and in good standing under the laws of its state of organization and has, in all material respects, all power and authority to carry on its business as it is
now conducted. [Originator] has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of [Originator] to perform its obligations under the Transaction
Documents or affect the enforceability or collectibility of the Receivables or any other part of the [Originator] Sold Assets. 
 (b) Authorization and No Contravention. The execution, delivery and performance by [Originator] of the Transaction Documents to which it is a party (i) have been duly authorized by all
necessary action on the part of [Originator] and (ii) do not contravene or constitute a default under (A) any applicable law, rule or regulation, (B) its organizational documents or (C)

 
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any material agreement, contract, order or other instrument to which it is a party or its property is subject (other than violations 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 [Originator]’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 [Originator] 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 collectibility of the Receivables or any other part of the [Originator] Sold
Assets or would not materially and adversely affect the ability of [Originator] to perform its obligations under the Transaction Documents. 
 (d) Binding Effect. Each Transaction Document to which [Originator] is a party constitutes the legal, valid and binding obligation of [Originator] enforceable against [Originator] 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. 
 (e) No Proceedings. There are Proceedings pending or, to the knowledge of [Originator], threatened against [Originator] before or by any Governmental Authority that (i) assert the invalidity
or unenforceability of this Agreement or any of the other Transaction Documents, (ii) seek to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the other Transaction
Documents, (iii) seek any determination or ruling that would materially and adversely affect the performance by [Originator] of its obligations under this Agreement or any of the other Transaction Documents or the collectibility or
enforceability of the Receivables, or (iv) relate to [Originator] that would materially and adversely affect the federal or Applicable Tax State income, excise, franchise or similar tax attributes of the Notes. 

(f) Lien Filings. [Originator] is not aware of any material judgment, ERISA or tax lien filings against
[Originator]. 
 SECTION 3.2 Representations and Warranties of [Originator] as to each Receivable.
[Originator] hereby makes the representations and warranties set forth on Schedule I as to the Receivables sold, contributed, transferred, assigned, set over and otherwise conveyed to FTH LLC under this Agreement on which such representations
and warranties FTH LLC relies in acquiring the Receivables. [(For the avoidance of doubt, it is understood that [Originator] makes representations and warranties only with respect to the Receivables described on Schedule III hereto.)] Such
representations and warranties shall survive the sale of the Receivables to the Seller under the Purchase Agreement, the sale of the Receivables by the Seller to the Issuer under the Sale Agreement, and the Grant of the Receivables by the Issuer to
the Indenture Trustee pursuant to the Indenture. Notwithstanding any statement to the contrary contained herein or in any other Transaction Document, [Originator] shall not be required to notify any 

 
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insurer with respect to any Insurance Policy obtained by an Obligor or to notify any Dealer about any aspect of the transaction contemplated by the Transaction Documents. 

SECTION 3.3 Repurchase upon Breach. Upon discovery by or notice to FTH LLC or [Originator] of
a breach of any of the representations and warranties set forth in Section 3.2 with respect to any Receivable at the time such representations and warranties were made which materially and adversely affects the interests of the Issuer or the
Noteholders, the party discovering such breach or receiving such notice shall give prompt written notice thereof to the other party; provided, that delivery of a Servicer’s Certificate which identifies the Receivables that are being or
have been repurchased shall be deemed to constitute prompt notice of such breach; provided, further, that the failure to give such notice shall not affect any obligation of [Originator] hereunder. If the breach materially and adversely
affects the interests of the Issuer or the Noteholders, then [Originator] shall either (a) correct or cure such breach or (b) repurchase such Receivable from FTH LLC, in either case on or before the Payment Date following the end of the
Collection Period which includes the sixtieth
(60th) day (or, if [Originator] elects, an earlier
date) after the date that [Originator] became aware or was notified of such breach. Any such breach or failure will be deemed not to have a material and adverse effect if such breach or failure does not affect the ability of FTH LLC (or its
assignee) to receive and retain timely payment in full on such Receivable. Any such purchase by [Originator] shall be at a price equal to the Repurchase Price. In consideration for such repurchase, [Originator] shall make (or shall cause to be made)
a payment to FTH LLC equal to the Repurchase Price by depositing such amount into the Collection Account prior to 11:00 a.m., New York City time on the date of such repurchase, if such repurchase date is not a Payment Date or, if such repurchase
date is a Payment Date, then prior to the close of business on the Business Day prior to such repurchase date. Upon payment of such Repurchase Price by [Originator], FTH LLC shall release and shall execute and deliver such instruments of release,
transfer or assignment, in each case without recourse or representation, as may be reasonably requested by [Originator] to evidence such release, transfer or assignment or more effectively vest in [Originator] or its designee any Receivable and the
related [Originator] Sold Assets repurchased pursuant hereto. It is understood and agreed that the obligation of [Originator] to purchase any Receivable as described above shall constitute the sole remedy respecting such breach available to FTH LLC.

 SECTION 3.4 Protection of Title. 

(a) [Originator] shall authorize and file such financing statements and cause to be authorized and filed such
continuation and other statements, all in such manner and in such places as may be required by law fully to preserve, maintain and protect the interest of FTH LLC under this Agreement in the Receivables (other than any Related Security with respect
thereto, to the extent that the interest of FTH LLC therein cannot be perfected by the filing of a financing statement). [Originator] shall deliver (or cause to be delivered) to FTH LLC file-stamped copies of, or filing receipts for, any document
filed as provided above, as soon as available following such filing. 
 (b) [Originator] will notify FTH LLC in
writing within ten (10) days following the occurrence of (i) any change in [Originator’s] organizational structure as a banking corporation, (ii) any change in [Originator’s] “location” (within the meaning of
Section 9-307 of the UCC of all applicable jurisdictions) and (iii) any change in [Originator’s] name and shall have taken all 
  

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action prior to making such change (or shall have made arrangements to take such action substantially simultaneously with such change, if it is not practicable to take such action in advance)
reasonably necessary or advisable in the opinion of FTH LLC to amend all previously filed financing statements or continuation statements described in paragraph (a) above. [Originator] will at all times maintain its “location” within
the United States. 
 (c) [Originator] shall maintain (or shall cause the Servicer to maintain) its computer
systems so that, from time to time after the conveyance under this Agreement of the Receivables, the master computer records (including any backup archives) that refer to a Receivable shall indicate clearly the interest of FTH LLC (or any subsequent
assignee of FTH LLC) in such Receivable and that such Receivable is owned by such Person. Indication of such Person’s interest in a Receivable shall not be deleted from or modified on such computer systems until, and only until, the related
Receivable shall have been paid in full or repurchased. 
 (d) If at any time [Originator] shall propose to
sell, grant a security interest in or otherwise transfer any interest in motor vehicle receivables to any prospective purchaser, lender or other transferee, [Originator] shall give to such prospective purchaser, lender or other transferee computer
tapes, records or printouts (including any restored from backup archives) that, if they shall refer in any manner whatsoever to any Receivable, shall indicate clearly that such Receivable has been sold and is owned by FTH LLC (or any subsequent
assignee of FTH LLC). 
 SECTION 3.5 Other Liens or Interests. Except for the conveyances and grants of
security interests pursuant to this Agreement and the other Transaction Documents, [Originator] shall not sell, pledge, assign or transfer the Receivables or other property transferred to FTH LLC to any other Person, or grant, create, incur, assume
or suffer to exist any Lien (other than Permitted Liens) on any interest therein, and [Originator] shall defend the right, title and interest of FTH LLC in, to and under such Receivables or other property transferred to FTH LLC against all claims of
third parties claiming through or under [Originator]. 
 SECTION 3.6 Perfection Representations, Warranties
and Covenants. [Originator] hereby makes the perfection representations, warranties and covenants set forth on Schedule II hereto to FTH LLC and FTH LLC shall be deemed to have relied on such representations, warranties and covenants in
acquiring the [Originator] Sold Assets. 
 SECTION 3.7 [FDIC Rule; Official Record] 

(a) [The parties hereto intend that (A) the FDIC Rule shall apply to the transactions contemplated by this Agreement
and the other Transaction Documents and (B) the transactions contemplated by this Agreement and the other Transaction Documents, taken as a whole, constitute a “securitization” within the meaning of the FDIC Rule.] 

(b) [So long as the Notes remain outstanding, this Agreement shall be treated as an official record of [Originator]
within the meaning of Section 13(e) of the Federal Deposit Insurance Act (12 U.S.C. Section 1823(e))]. 
  

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 SECTION 3.8 Compliance with the FDIC Rule. [Originator]
(i) shall perform the covenants set forth in Article XII of the Indenture applicable to it and (ii) shall facilitate compliance with Article XII of the Indenture by the Fifth Third Parties. 

SECTION 3.9 Merger or Consolidation of, or Assumption of the Obligations of, [Originator]. Any Person
(i) into which [Originator] 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, (ii) resulting from any merger, sale, transfer,
conversion, or consolidation to which [Originator] shall be a party, (iii) succeeding to the business of [Originator], or (iv) 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 Fifth Third Bancorp, which Person in any of the foregoing cases executes an agreement of assumption to perform every obligation of [Originator] under this Agreement, will be the successor to [Originator] under this
Agreement without the execution or filing of any document or any further act on the part of any of the parties to this Agreement anything herein to the contrary notwithstanding. Notwithstanding the foregoing, if [Originator] enters into any of the
foregoing transactions and is not the surviving entity, [Originator] will deliver to the Indenture Trustee an Opinion of Counsel either (A) stating that, in the opinion of such counsel, all financing statements and continuation statements and
amendments thereto have been executed and filed that are necessary to preserve and protect the interest of the Issuer and the Indenture Trustee, respectively, in the Receivables, or (B) stating that, in the opinion of such counsel, no such
action is necessary to preserve and protect such interest. 
 SECTION 3.10 [Originator] May Own Notes.
[Originator], and any Affiliate of [Originator], may in its individual or any other capacity become the owner or pledgee of Notes with the same rights as it would have if it were not [Originator] or an Affiliate thereof, except as otherwise
expressly provided herein or in the other Transaction Documents. Except as set forth herein or in the other Transaction Documents, Notes so owned by [Originator] or any such Affiliate will have an equal and proportionate benefit under the provisions
of this Agreement and the other Transaction Documents, without preference, priority, or distinction as among all of the Notes. Unless all Notes are owned by the Issuer, [Originator], the Servicer, the Administrator or any of their respective
Affiliates, any Notes owned by the Issuer, [Originator], the Servicer, the Administrator or any of their respective Affiliates shall be disregarded with respect to the determination of any request, demand, authorization, direction, notice, consent,
vote or waiver hereunder or under any other Transaction Document. 
 ARTICLE IV 

MISCELLANEOUS 
 SECTION 4.1 Transfers Intended as Sale; Security Interest. 

(a) Each of the parties hereto expressly intends and agrees that the transfers contemplated and effected under this
Agreement are complete and absolute sales, transfers, assignments and contributions rather than pledges or assignments of only a security interest and shall be given effect as such for all purposes. It is further the intention of the parties hereto
that the Receivables and related [Originator] Sold Assets shall not be part of [Originator]’s estate in 
  

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the event of a bankruptcy or insolvency of [Originator]. The sales and transfers by [Originator] of the Receivables and related [Originator] Sold Assets hereunder are and shall be without
recourse to, or representation or warranty (express or implied) by, [Originator], except as otherwise specifically provided herein. The limited rights of recourse specified herein against [Originator] are intended to provide a remedy for breach of
representations and warranties relating to the condition of the property sold, rather than to the collectibility of the Receivables. 
 (b) Notwithstanding the foregoing, in the event that the Receivables and other [Originator] Sold Assets are held to be property of [Originator], or if for any reason this Agreement is held or deemed to
create indebtedness or a security interest in the Receivables and other [Originator] Sold Assets, then it is intended that: 
 (i) This Agreement shall be deemed to be a security agreement within the meaning of Articles 8 and 9 of the New York UCC and the UCC of any other applicable jurisdiction; 

(ii) The conveyance provided for in Section 2.1 shall be deemed to be a grant by [Originator] of, and
[Originator] hereby grants to FTH LLC, a security interest in all of its right (including the power to convey title thereto), title and interest, whether now owned or hereafter acquired, in and to the Receivables and other [Originator] Sold Assets,
to secure such indebtedness and the performance of the obligations of [Originator] hereunder; 

(iii) The possession by FTH LLC or its agent of the Receivable Files and any other property that
constitute instruments, money, negotiable documents or chattel paper shall be deemed to be “possession by the secured party” or possession by FTH LLC or a Person designated by FTH LLC, for purposes of perfecting the security interest
pursuant to the New York UCC and the UCC of any other applicable jurisdiction; and 
 (iv)
Notifications to Persons holding such property, and acknowledgments, receipts or confirmations from Persons holding such property, shall be deemed to be notifications to, or acknowledgments, receipts or confirmations from, bailees or agents (as
applicable) of FTH LLC for the purpose of perfecting such security interest under applicable law. 
 SECTION 4.2
Notices, Etc. 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, if so provided on Schedule II to the Sale Agreement, by electronic transmission, and addressed in each case as specified on Schedule I to the 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. Any notice required or permitted to be mailed to a Noteholder shall be given by first class mail, postage prepaid, at the address of
such Noteholder as shown in the Note Register. 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; provided, however, that any notice to a Noteholder mailed within the time and manner prescribed 
  

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in this Agreement shall be conclusively presumed to have been duly given, whether or not the Noteholder shall receive such notice. 

SECTION 4.3 Choice of Law. 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 LAW, 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. 
 SECTION 4.4 Headings. The section
headings hereof have been inserted for convenience only and shall not be construed to affect the meaning, construction or effect of this Agreement. 
 SECTION 4.5 Counterparts. This Agreement may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, regardless of whether delivered in physical or
electronic form, but all of such counterparts shall together constitute but one and the same instrument. 

SECTION 4.6 Amendment. 
 (a) Any term or provision of this Agreement may be amended by [Originator] and FTH LLC without the consent of the Indenture Trustee, any Noteholder, the Issuer, [the Swap Counterparty,] the Owner Trustee
or any other Person subject to subsection (e) of this Section 4.6 and the satisfaction of one of the following conditions: 

(i) [Originator] or FTH LLC delivers an Opinion of Counsel or an Officer’s Certificate 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 Bank or FTH LLC 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 (and such consent shall be deemed to have been given if the Swap Counterparty does not object
in writing within ten (10) Business Days after receipt of a written request for such consent)]. 
 (b) This
Agreement may also be amended from time to time by [Originator] and FTH LLC, with the consent of (i) the Holders of Notes evidencing not less than a majority of the Outstanding Note Balance, voting as a single class, and (ii) the Majority
Certificateholders, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders or the Certificateholders. It will not be
necessary for the consent of Noteholders or Certificateholders 
  
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(20[    ]-[    ]) 

  
 -8-

 
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 and Certificateholders 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 Note Depository Agreement. 
 (c) Prior to the
execution of any such amendment, [Originator] shall provide written notification of the substance of such amendment to each Rating Agency; and promptly after the execution of any such amendment shall furnish a copy of such amendment to each Rating
Agency, the Issuer and the Indenture Trustee; provided, that no amendment pursuant to this Section 4.6 shall be effective which materially and adversely affects the rights, protections or duties of the Indenture Trustee or the Owner
Trustee without the prior written consent of such Person. 
 (d) Prior to the execution of any amendment to this
Agreement, FTH LLC, 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 an
Officer’s Certificate from the Depositor or the Administrator 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 materially and adversely affects the Owner Trustee’s or the Indenture Trustee’s, as applicable, own rights, privileges, indemnities, duties or obligations under this Agreement, the Transaction Documents
or otherwise. 
 (e) Notwithstanding subsection (a) of this Section 4.6, this Agreement may
only be amended by [Originator] and FTH LLC if (i) the Majority Certificateholders consent to such amendment or (ii) such amendment shall not, as evidenced by an Officer’s Certificate of [Originator] or FTH LLC or an Opinion of
Counsel delivered to the Indenture Trustee and the Owner Trustee, materially and adversely affect the interests of the Certificateholders. 
 SECTION 4.7 Waivers. No failure or delay on the part of FTH LLC, the Servicer, [Originator], the Issuer or the Indenture Trustee in exercising any power or right hereunder (to the extent such
Person has any power or right hereunder) shall operate as a waiver thereof, nor shall any single or partial exercise of any such power or right preclude any other or further exercise thereof or the exercise of any other power or right. No notice to
or demand on FTH LLC or [Originator] in any case shall entitle it to any notice or demand in similar or other circumstances. No waiver or approval by either party under this Agreement shall, except as may otherwise be stated in such waiver or
approval, be applicable to subsequent transactions. No waiver or approval under this Agreement shall require any similar or dissimilar waiver or approval thereafter to be granted hereunder. 

SECTION 4.8 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 or written understandings. There
are no unwritten agreements among the parties. 
  

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 -9-

 SECTION 4.9 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. 
 SECTION 4.10 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. This Agreement shall create
and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until such time as the parties hereto shall agree. 

SECTION 4.11 Acknowledgment and Agreement. By execution below, [Originator] expressly acknowledges and consents to
the sale of the [Originator] Sold Assets and the assignment of all rights and obligations of [Originator] related thereto by FTH LLC to the Depositor pursuant to the Purchase Agreement, by the Depositor to the Issuer pursuant to the Sale Agreement
and the Grant of a security interest in the Receivables and the other [Originator] Sold Assets by the Issuer to the Indenture Trustee pursuant to the Indenture for the benefit of the Noteholders [and the Swap Counterparty]. In addition, [Originator]
hereby acknowledges and agrees that for so long as the Notes are outstanding, the Indenture Trustee will have the right to exercise all powers, privileges and claims of FTH LLC under this Agreement in the event that FTH LLC shall fail to exercise
the same. 
 SECTION 4.12 Cumulative Remedies. The remedies herein provided are cumulative and not
exclusive of any remedies provided by law. 
 SECTION 4.13 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 hereto 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 benefit of its creditors generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence or join with any other Person in commencing 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. This Section shall survive the termination of this Agreement. 

 
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 -10-

 SECTION 4.14 Submission to Jurisdiction; Waiver of Jury Trial. Each
of the parties hereto hereby irrevocably and unconditionally: 
 (a) submits for itself and its property in any
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; 
 (b) consents that any such Proceeding may be brought 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
Proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 
 (c) agrees that
service of process in any such 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 4.2 of this Agreement; 
 (d) 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 
 (e) to the extent permitted by applicable law, each party hereto irrevocably waives all right of trial by jury in any 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. 
 SECTION
4.15 [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.] 
 SECTION 4.16
Not Applicable to [Originator] in Other Capacities. Nothing in this Agreement shall affect any obligation [Originator] may have in any other capacity. 
 [Remainder of Page Intentionally Left Blank] 
  
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 -11-

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year first written above. 
  

			
	 [ORIGINATOR]

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

			
	 FIFTH THIRD HOLDINGS, LLC

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  
 Receivables Sale
Agreement 
 ([Originator]) (20[    ]-[    ]) 

  
 S-1

 EXHIBIT A 
 FORM OF 
 ASSIGNMENT PURSUANT TO RECEIVABLES SALE AGREEMENT

 [            ] 

For value received, in accordance with the Receivables Sale Agreement dated as of
[            ], (the “Agreement”), between [Originator], a [            ] (“[Originator]”), and Fifth
Third Holdings, LLC, a Delaware limited liability company (the “FTH LLC”), on the terms and subject to the conditions set forth in the Agreement, [Originator] does hereby transfer, assign, set over, sell, contribute and otherwise
convey to FTH LLC without recourse (subject to the obligations in the Agreement) on the Closing Date, all of its right, title, interest, claims and demands in, to and under the Receivables set forth on the schedule of Receivables delivered by
[Originator] to FTH LLC on the date hereof (such schedule, the “[Originator] Schedule of Receivables”), the Collections after the Cut-Off Date, the Receivable Files and the Related Security relating thereto. 

The foregoing sale does not constitute and is not intended to result in any assumption by FTH LLC of any obligation of
the undersigned or the [Originator] to the Obligors, the Dealers, insurers or any other Person in connection with the Receivables, or the other assets and properties conveyed hereunder or any agreement, document or instrument related thereto.

 This assignment is made pursuant to and upon the representations, warranties and agreements on the part of
the undersigned contained in the Agreement and is governed by the Agreement. 
 Capitalized terms used herein
and not otherwise defined shall have the respective meanings assigned to them in the Agreement or, if not defined in the Agreement, in Appendix A to the Sale Agreement, dated as of
[            ], 20[    ], between Fifth Third Auto Trust [    ]-[    ] and Fifth Third Holdings Funding, LLC. 

[Remainder of page intentionally left blank] 
  

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 A-1

 IN WITNESS WHEREOF, the undersigned has caused this assignment to be duly
executed as of the date first above written. 
  

			
	 [ORIGINATOR]

		
	 By:
	 	 
	 Name:
	 	
	 Title:
	 	

  
 Receivables Sale
Agreement 
 ([Originator]) (20[    ]-[    ]) 

  
 A-2

 SCHEDULE I 
 REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE RECEIVABLES 
 DESCRIBED
ON SCHEDULE III AND TRANSFERRED BY [ORIGINATOR] TO FTH LLC 
  

	 (a)
	 Characteristics of Receivables. As of the Cut-Off Date (or such other date as may be specifically set forth below), each Receivable:

  

	 	 (i)
	 has been fully and properly executed or electronically authenticated by the Obligor thereto; 

 

	 	 (ii)
	 has either (A) been originated by a Dealer in the ordinary course of such Dealer’s business to finance the retail sale by a Dealer of the
related Financed Vehicle and has been purchased by [Originator] in the ordinary course of its respective business or (B) has been originated or acquired directly by [Originator] in accordance with its customary practices;

  

	 	 (iii)
	 as of the Closing Date is secured by a first priority validly perfected security interest in the Financed Vehicle in favor of [Originator], as
secured party, or all necessary actions have been commenced that would result in a first priority security interest in the Financed Vehicle in favor of the [Originator], as secured party, which security interest, in either case, is assignable and
has been so assigned (x) by [Originator] to FTH LLC, (y) by FTH LLC to the Seller and (z) by the Seller to the Issuer; 

  

	 	 (iv)
	 contains customary and enforceable provisions such that the rights and remedies of the holder thereof are adequate for realization against the
collateral of the benefits of the security; 

  

	 	 (v)
	 provided, at origination, for level monthly payments which fully amortize the initial Outstanding Principal Balance over the original term;
provided, that the amount of the first or last payment may be different from the level payment but in no event more than three times the level monthly payment; 

 

	 	 (vi)
	 provides for interest at the Contract Rate specified in the Schedule of Receivables; and 

 

	 	 (vii)
	 was originated in the United States. 

  

	 (b)
	 Individual Characteristics. As of the Cut-Off Date (or such other date as may be specifically set forth below), each Receivable has the
following individual characteristics: 

  

	 	 (i)
	 each Receivable is secured by a new or used automobile, light-duty truck, van or other motor vehicle; 

 
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 Schedule I-1

	 	 (ii)
	 each Receivable has a Contract Rate of no less than [            ]% and not more than
[            ]%; 

  

	 	 (iii)
	 each Receivable had an original term to maturity of not more than [            ] months
and not less than [            ] months and each Receivable has a remaining term to maturity, as of the Cut-Off Date, of
[            ] month[s] or more; 

  

	 	 (iv)
	 each Receivable has an Outstanding Principal Balance as of the Cut-Off Date of greater than or equal to
$[            ]; 

  

	 	 (v)
	 no Receivable has a scheduled maturity date later than [            ];

  

	 	 (vi)
	 no Receivable was more than 30 days past due as of the Cut-Off Date; 

 

	 	 (vii)
	 as of the Cut-Off Date, no Receivable was noted in the records of the Servicer as being the subject of any pending bankruptcy or insolvency
Proceeding; 

  

	 	 (viii)
	 each Receivable is a Simple Interest Receivable; 

  

	 	 (ix)
	 each of the Receivables were selected using selection procedures that were not known or intended by [Originator] to be adverse to FTH LLC; and

  

	 	 (x)
	 the Dealer of the Financed Vehicle has no participation in, or other right to receive, any proceeds of such Receivable.

  

	 (c)
	 Schedule of Receivables. The information with respect to each Receivable transferred on the Closing Date set forth in the Schedule of
Receivables was true and correct in all material respects as of the Cut-Off Date. 

  

	 (d)
	 Compliance with Law. Each Receivable complied at the time it was originated or made, in all material respects with all requirements of
applicable federal, state and local laws, and regulations thereunder, including, to the extent applicable, usury laws, the Federal Truth in Lending Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Federal Trade Commission
Act, the Fair Debt Collection Practices Act, the Fair Credit Billing Act, the Magnuson-Moss Warranty Act, Consumer Financial Protection Bureau’s Regulations B and Z, the Servicemembers Civil Relief Act, state adaptations of the National
Consumer Act and of the Uniform Consumer Credit Code and any other consumer credit, equal opportunity and disclosure laws applicable to that Receivable. 

 

	 (e)
	 Binding Obligation. Each Receivable constitutes the legal, valid and binding payment obligation in writing of the Obligor, enforceable in all
respects by the holder thereof in accordance with its terms, except (i) as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, liquidation or other similar laws and equitable principles relating to or affecting
the enforcement of creditors’ rights generally and (ii) as such Receivable may be modified by the application after the Cut-Off Date of the Servicemembers Civil Relief Act, as amended, to the extent applicable to the related Obligor.

  
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 Schedule I-2

	 (f)
	 Receivable in Force. Each Receivable has not been satisfied, subordinated or rescinded nor has the related Financed Vehicle been released
from the lien granted by the Receivable in whole or in part. 

  

	 (g)
	 No Default. Except for payment delinquencies continuing for a period of not more than 30 days as of the Cut-Off Date, the records of the
Servicer did not disclose that any default, breach, violation or event permitting acceleration under the terms of the Receivable existed as of the Cut-Off Date or that any continuing condition that with notice or lapse of time, or both, would
constitute a default, breach, violation or event permitting acceleration under the terms of the Receivable had arisen as of the Cut-Off Date. 

  

	 (h)
	 Insurance. Each Receivable requires the Obligor thereunder to insure the Financed Vehicle under a physical damage insurance policy.

  

	 (i)
	 No Government Obligor. The Obligor on each Receivable is not the United States of America or any state thereof or any local government, or
any agency, department, political subdivision or instrumentality of the United States of America or any state thereof or any local government. 

  

	 (j)
	 Assignment. No Receivable has been originated in, or is subject to the laws of, any jurisdiction under which the sale, transfer, assignment,
contribution, conveyance or pledge of such Receivable would be unlawful, void, or voidable. [Originator] has not entered into any agreement with any Obligor that prohibits, restricts or conditions the assignment of the related Receivable.

  

	 (k)
	 Good Title. It is the intention of [Originator] that the sale, contribution, transfer, assignment and conveyance herein contemplated
constitute an absolute sale, contribution, transfer, assignment and conveyance of the Receivables and that the Receivables not be part of [Originator]’s estate in the event of the filing of a bankruptcy petition by or against FTH LLC under any
bankruptcy law. As of the Closing Date, no Receivable has been sold, transferred, assigned, conveyed or pledged to any Person other than pursuant to the Transaction Documents. As of the Closing Date, and immediately prior to the sale and transfer
herein contemplated, [Originator] had good and marketable title to each Receivable free and clear of all Liens (except any Lien which will be released prior to the sale and transfer of such Receivables to FTH LLC) and, immediately upon the sale and
transfer thereof, FTH LLC will have good and marketable title to each Receivable, free and clear of all Liens (other than Permitted Liens). 

  

	 (l)
	 Filings. All filings (including, without limitation, UCC filings) necessary in any jurisdiction to give the Issuer a first priority, validly
perfected ownership interest in the Receivables (other than the Related Security with respect thereto, to the extent that the interest of the Issuer therein cannot be perfected by the filing of a financing statement), and to give the Indenture
Trustee a first priority perfected security interest therein, will be submitted for filing on the Closing Date. 

  

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 Schedule I-3

	 (m)
	 Priority. The Receivable is not pledged, assigned, sold, subject to a security interest, or otherwise conveyed other than pursuant to the
Transaction Documents. The Receivables Sale Agreement creates a valid and continuing security interest in the Receivable (other than the Related Security with respect thereto) in favor of FTH LLC which security interest is prior to all other Liens
(other than Permitted Liens) and is enforceable as such against all other creditors of and purchasers and assignees from FTH LLC. 

  

	 (n)
	 Characterization of Receivables. Each Receivable constitutes either “electronic chattel paper,” “tangible chattel paper,”
an “instrument,” an “account,” a “promissory note,” a “general intangible” or a “payment intangible,” each as defined in the UCC. 

 

	 (o)
	 One Original. There is only one executed original, electronically authenticated original or authoritative copy of the Contract (in each case
within the meaning of the UCC) related to each Receivable. If such original has been marked, then such original does not have any marks or notations indicating that it has been pledged, assigned or otherwise conveyed to any Person other than to a
party to the Transaction Documents. 

  

	 (p)
	 No Defenses. [Originator] has no knowledge either of any facts which would give rise to any right of rescission, set-off, counterclaim or
defense, or of the same being asserted or threatened, with respect to any Receivable. 

  

	 (q)
	 No Repossession. As of the Cut-Off Date, no Financed Vehicle shall have been repossessed. 

 
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 Schedule I-4

 SCHEDULE II 
 PERFECTION REPRESENTATIONS, WARRANTIES AND COVENANTS 
 In
addition to the representations, warranties and covenants contained in the Agreement, [Originator] hereby represents, warrants, and covenants to FTH LLC as follows on the Closing Date: 

General 
 1. This Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Receivables and the other [Originator] Sold Assets in favor of FTH LLC, which security interest
is prior to all other Liens, and is enforceable as such against creditors of and purchasers from [Originator]. 

2. The Receivables constitute “chattel paper” (including “electronic chattel paper” or “tangible
chattel paper”), “accounts”, “instruments”, “promissory notes”, “payment intangibles” or “general intangibles,” within the meaning of the applicable UCC. 

3. Immediately prior to the sale, transfer, contribution, assignment and/or conveyance of a Receivable, each Receivable
is secured by a first priority validly perfected and enforceable security interest in the related Financed Vehicle in favor of the [Originator], as secured party, or all necessary actions with respect to such Receivable have been taken or will be
taken to perfect a first priority security interest in the related Financed Vehicle in favor of the [Originator], as secured party, subject, as to enforcement, to applicable bankruptcy, insolvency, reorganization, liquidation or other similar laws
and equitable principles relating to or affecting the enforcement of creditors’ rights generally. 
 Creation

 4. Immediately prior to the sale, transfer, contribution, assignment and conveyance of a Receivable
by [Originator] to FTH LLC, [Originator] owned and had good and marketable title to such Receivable free and clear of any Lien (other than any liens in favor of FTH LLC) and immediately after the sale, transfer, assignment and conveyance of such
Receivable to FTH LLC, FTH LLC will have good and marketable title to such Receivable free and clear of any Lien. 
 5. The related [Originator] has received all consents and approvals to the sale of the Receivables hereunder to FTH LLC required by the terms of the Receivables that constitute instruments. 

Perfection 
 6. [Originator] has submitted or will have caused, within ten days after the effective date of this Agreement, the filing of all appropriate financing statements in the proper filing office in the
appropriate jurisdictions under applicable law in order to perfect the sale of the Receivables from [Originator] to FTH LLC and the security interest in the Receivables granted 

 
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([Originator]) (20[    ]-[    ]) 

  
 Schedule II-1

 
to FTH LLC hereunder; and the Servicer, in its capacity as custodian, has in its possession the original copies of such instruments or tangible chattel paper that constitute or evidence the
Receivables, and all financing statements referred to in this paragraph contain a statement that: “A purchase of or security interest in any collateral described in this financing statement will violate the rights of the Secured
Party/Purchaser.” 
 7. With respect to Receivables that constitute an instrument or tangible chattel
paper, either: 
  

	 	 a.
	 All original executed copies of each such instrument or tangible chattel paper have been delivered to the Indenture Trustee, as pledgee of the
Issuer; or 

  

	 	 b.
	 Such instruments or tangible chattel paper are in the possession of the Servicer and the Indenture Trustee has received a written acknowledgment
from the Servicer that the Servicer (in its capacity as custodian) is holding such instruments or tangible chattel paper solely on behalf and for the benefit of the Indenture Trustee, as pledgee of the Issuer; or 

 

	 	 c.
	 The Servicer received possession of such instruments or tangible chattel paper after the Indenture Trustee received a written acknowledgment from
the Servicer that the Servicer is acting solely as agent of the Indenture Trustee, as pledgee of the Issuer. 

Priority 
 8. [Originator] has authorized the filing of, and is not aware of any financing statements against [Originator] that include a description of collateral covering the Receivables other than any financing
statement (i) relating to the conveyance of Receivables by the [Originator] to FTH LLC under the Receivables Sale Agreement, (ii) relating to the conveyance of the Receivables by FTH LLC to the Seller under the Purchase Agreement,
(iii) relating to the conveyance of the Receivables by the Seller to the Issuer under the Sale Agreement, (iv) relating to the security interest granted to the Indenture Trustee under the Indenture or (v) that has been terminated.

 9. [Originator] is not aware of any material judgment, ERISA or tax lien filings against [Originator].

 10. Neither the Bank nor a custodian or vaulting agent thereof holding any Receivable that is electronic
chattel paper has communicated an “authoritative copy” (as such term is used in Section 9-105 of the UCC) of any loan agreement that constitutes or evidences such Receivable to any Person other than the Servicer. 

11. None of the instruments, electronic chattel paper or tangible chattel paper that constitutes or evidences the
Receivables has any marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person other than FTH LLC, the Issuer or the Indenture Trustee. 

 
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([Originator]) (20[    ]-[    ]) 

  
 Schedule II-2

 Survival of Perfection Representations 

12. Notwithstanding any other provision of this Agreement or any other Transaction Document, the perfection
representations, warranties and covenants contained in this Schedule II shall be continuing, and remain in full force and effect until such time as all obligations under the Transaction Documents and the Notes have been finally and fully
paid and performed. 
 No Waiver 

13. [Originator] shall provide the Rating Agencies with prompt written notice of any material breach of the perfection
representations, warranties and covenants contained in this Schedule II, and shall not, without satisfying the Rating Agency Condition, waive a breach of any of such perfection representations, warranties or covenants. 

 
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 Schedule II-3

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