Document:

Note Guaranty Insurance Policy

 Exhibit 4.4 
  

 
  
 1221
Avenue of the Americas 
 New York, New York 10020 
 Telephone: (212) 478-3400 
  
 FINANCIAL GUARANTY 
 INSURANCE
POLICY 
  

			
	 Obligor: AmeriCredit Automobile Receivables Trust 2005-A-X
	  	Policy No: CA01587A
		
	 Insured Obligation: The $900,000,000 AmeriCredit Automobile Receivables Trust 2005-A-X Automobile Receivables Backed Notes, $164,000,000 Class A-1 Notes,
$258,00,000 Class A-2 Notes, $277,000,000 Class A-3 Notes and $201,000,000 Class A-4 Notes, issued by AmeriCredit Automobile Receivables Trust 2005-A-X pursuant to the Indenture.
	  	Effective Date: February 3, 2005

  
 XL Capital
Assurance Inc. (“XLCA”), a New York stock insurance company, in consideration of the payment of the premium, hereby unconditionally and irrevocably guarantees to the Trustee for the benefit of the Owners of the Insured Obligations,
full and complete payment by the Obligor of Scheduled Payments in respect of the Insured Obligation, subject only to the terms of this Policy (which includes the Endorsement(s) attached hereto). 
  
 XLCA will pay the Insured Amount to the Trustee upon the presentation of a
Payment Notice to XLCA on the later of (a) one (1) Business Day following receipt by XLCA of a Payment Notice or (b) the Business Day on which Scheduled Payments are due for payment. XLCA shall be subrogated to the Owners’ rights to payment on
the Insured Obligations to the extent of any payment by XLCA hereunder. The obligations of XLCA with respect to a Scheduled Payment will be discharged to the extent funds to pay such Scheduled Payment are deposited in the account specified in the
Payment Notice, whether such funds are properly applied by the Trustee or claimed by an Owner. 
  
 In addition, in the event that any Scheduled Payment which has become due for payment and which is made to an Owner by or on behalf of the Trustee is recovered or is recoverable from the Owner pursuant to a final
order of a court of competent jurisdiction in an Insolvency Proceeding that such payment constitutes an avoidable preference to such Owner within the meaning of any applicable bankruptcy law, XLCA unconditionally and irrevocably guarantees payment
of the amount of such recovery (in accordance with Endorsement No. 1 hereto). 
  
 This Policy sets forth in full the undertaking of XLCA and shall not be cancelled or revoked by XLCA for any reason, including failure to receive payment of any premium due hereunder or under the Insurance Agreement,
and may not be further endorsed or modified without the written consent of XLCA. The premium on this Policy is not refundable for any reason. This Policy does not insure against loss of any prepayment or other acceleration payment which at any time
may become due in respect of any Insured Obligation, other than at the sole option of XLCA, nor against any risk other than Nonpayment and Avoided Payment, including any shortfalls, if any, attributable to the liability of the Obligor for taxes or
withholding taxes if any, including interest and penalties in respect of such liability. 
  
 THIS POLICY IS NOT COVERED BY THE PROPERTY/CASUALTY INSURANCE SECURITY FUND SPECIFIED IN ARTICLE 76 OF THE NEW YORK INSURANCE LAW. 
  
 Any capitalized terms not defined herein shall have the meaning given such terms in the Endorsement attached hereto and
forming a part hereof, or in the Insurance Agreement referenced therein. In witness whereof, XLCA has caused this Policy to be executed as of the Effective Date. 
  

							
	 XL CAPITAL ASSURANCE INC.
	  	 	  	 
		
	         /s/ Linda Kobrin

	  	        /s/ Mary Jane Constant

	 Name:
	  	 Linda Kobrin
	  	Name:	  	 Mary Jane Constant

	 Title:
	  	 Managing Director
	  	Title:	  	 Associate General Counsel

 Financial Guaranty Insurance Policy Endorsement No. 1 Effective 
 Date February 3, 2005, Attached to and forming 
 part of Financial Guaranty Insurance 
 Policy No. CA01587A 
  

			
	 Obligor:
	  	AmeriCredit Automobile Receivables Trust 2005-A-X
		
	 Insured Obligation:
	  	The $900,000,000 AmeriCredit Automobile Receivables Trust 2005-A-X Automobile Receivables Backed Notes, $164,000,000 Class A-1 Notes, $258,000,000 Class A-2 Notes, $277,000,000
Class A-3 Notes and $201,000,000 Class A-4 Notes, issued by AmeriCredit Automobile Receivables Trust 2005-A-X pursuant to the Indenture.
		
	 Beneficiary:
	  	Wells Fargo Bank, National Association, as trustee (the “Trustee”) under the Indenture dated as of January 27, 2005 (the “Indenture”) between the Obligor and
the Trustee.

  
 Capitalized terms used
herein and not otherwise defined herein or in the Policy shall have the meanings assigned to them in the Insurance Agreement, the Sale and Servicing Agreement or the Indenture as in effect on the date of execution of this Policy without giving
effect to any subsequent amendment or modification thereto unless such amendment or modification has been approved in writing by XLCA. 
  
 As used herein the term “Business Day” means any day other than Saturday or Sunday on which commercial banking institutions in New York, New
York, Minneapolis, Minnesota and the State in which the executive offices of the Servicer are located are generally open for banking business. 
  
 As used herein the term “Insolvency Proceeding” means the commencement, after the date hereof, of any bankruptcy, insolvency,
readjustment of debt, reorganization, marshalling of assets and liabilities or similar proceedings by or against any Person, the commencement, after the date hereof, of any proceedings by or against any Person for the winding up or liquidation of
its affairs, or the consent, after the date hereof, to the appointment of a trustee, conservator, receiver or liquidator in any bankruptcy, insolvency, readjustment of debt, reorganization, marshalling of assets and liabilities or similar
proceedings of or relating to any Person. 
  
 As used herein the
term “Insurance Agreement” means the Insurance Agreement, dated as of January 27, 2005, by and among XLCA, the Obligor, AmeriCredit, the Servicer, the Custodian, the Seller, the Trustee, the Trust Collateral Agent, the Collateral
Agent and the Backup Servicer, 
  
 As used herein the term
“Insured Amount” means, that portion of the Scheduled Payments that shall become due for payment but shall be unpaid by reason of Nonpayment. 
  

 1 

 As used herein the term “Nonpayment” means, with respect to any Distribution Date, the
failure of the Trustee to receive, in full, in accordance with the terms of the Indenture that Scheduled Payment that is due for payment with respect to such date. 
  
 As used herein the term “Owner” means the registered owner of any Insured Obligation as indicated in the
registration books maintained by or on behalf of the Obligor for such purpose or, if the Insured Obligation is in bearer form, the holder of the Insured Obligation. 
  
 As used herein, the term “Person” means an individual, a partnership, a limited liability company, a joint
venture, a corporation, a trust, an unincorporated organization, and a government or any department or agency thereof. 
  
 As used herein the term “Scheduled Payment” means for any Distribution Date, the excess, if any (without duplication) of (i) the
Noteholders’ Interest Distributable Amount plus the Noteholders’ Parity Deficit Amount plus, if such Distribution Date is the Final Scheduled Distribution Date for any Class of Notes, the Outstanding Amount of such Class of Notes over (ii)
the amount actually deposited into the Note Distribution Account on or with respect to such Distribution Date for application to the amounts described in the foregoing clause (i), in accordance with the original terms of the Insured Obligations and
the Indenture when issued and without regard to any subsequent amendment or modification of the Insured Obligations or the Indenture that has not been consented to in writing by XLCA. Notwithstanding the foregoing, “Scheduled Payments”
shall in no event include payments which become due on an accelerated basis as a result of (a) any default by the Obligor, (b) the occurrence of an Event of Default under the Indenture, (c) mandatory or optional redemption, in whole or in part, or
(d) any other cause, unless XLCA elects, in its sole discretion, to pay such amounts in whole or in part (in which event Scheduled Payments shall include such accelerated payments as, when, and to the extent so elected by XLCA). In the event that it
does not make such election, Scheduled Payments shall include payments due in accordance with the original scheduled terms without regard to any acceleration. In addition, “Scheduled Payment” shall not include, nor shall coverage be
provided under the Policy in respect of, (i) any make whole, redemption or call premium payable in respect of the Insured Obligations, (ii) any amounts due in respect of the Insured Obligations attributable to any increase in interest rate, penalty
or other sum payable by the Obligor by reason of any default or event of default in respect of the Insured Obligations, or by reason of any deterioration of the creditworthiness of the Obligor or (iii) any taxes, withholding or other charge imposed
by any governmental authority due in connection with the payment of any Scheduled Payment to any holder of an Insured Obligation. 
  
 As used herein the term “Term of this Policy” means the period from and including the Effective Date to and including the first date on
which (i) all Scheduled Payments have been paid that are required to be paid by the Obligor under the Indenture; and (ii) any period during which any Scheduled Payment could have been avoided in whole or in part as a preference payment under
applicable bankruptcy, insolvency, receivership or similar law has expired; provided, however, that if any proceedings 

  

 2 

 
requisite to avoidance as a preference payment have been commenced prior to the occurrence of (i) and (ii) above, and the Owners are ultimately required to
return any Avoided Payment (as defined below) as a result of such proceeding pursuant to a final and nonappealable order in resolution of any such proceeding (whether or not such order is entered before or after the occurrence of (i) and (ii)
above), then the Term of the Policy shall terminate on the date on which XLCA has made all payments required to be made under the terms of this Policy in respect of all such Avoided Payments. 
  
 To make a claim under the Policy, the Trustee shall deliver to XLCA a Payment
Notice in the form of Exhibit A hereto (a “Payment Notice”), appropriately completed and executed by the Trustee. A Payment Notice under this Policy may be presented to XLCA by (i) delivery of the original Payment Notice to XLCA at
its address set forth below, or (ii) facsimile transmission of the original Payment Notice to XLCA at its facsimile number set forth below. If presentation is made by facsimile transmission, the Trustee shall (x) simultaneously confirm transmission
by telephone to XLCA at its telephone number set forth below, and (y) as soon as reasonably practicable, deliver the original Payment Notice to XLCA at its address set forth below. Any Payment Notice received by XLCA after 10:00 a.m., New York City
time, on a Business Day, or on any day that is not a Business Day, will be deemed to be received by XLCA at 9:00 a.m., New York City time, on the next succeeding Business Day. XLCA shall make payments due in respect of Insured Amounts no later than
2:00 p.m. New York City time to the Trustee upon the presentation of a Payment Notice to XLCA on the later of (a) one (1) Business Day following receipt by XLCA of a Payment Notice or (b) the Business Day on which Scheduled Payments are due for
payment. 
  
 Subject to the foregoing, if the payment of any
amount with respect to the Scheduled Payment is voided (a “Preference Event”) as a result of an Insolvency Proceeding and as a result of such Preference Event, the Owner is required to return such voided payment, or any portion of
such voided payment, made in respect of the Insured Obligation (an “Avoided Payment”), XLCA will pay an amount equal to such Avoided Payment, as and when such payment would otherwise be due pursuant to the Indenture without regard
to acceleration or prepayment, and upon payment of such Avoided Payment and receipt by XLCA from the Trustee on behalf of such Owner of (x) a certified copy of a final order of a court exercising jurisdiction in such Insolvency Proceeding to the
effect that the Owner or the Trustee on behalf of the Owner is required to return any such payment or portion thereof because such payment was voided under applicable law, with respect to which order the appeal period has expired without an appeal
having been filed (the “Final Order”), (y) an assignment, substantially in the form attached hereto as Exhibit B, properly completed and executed by such Owner irrevocably assigning to XLCA all rights and claims of such Owner
relating to or arising under such Avoided Payment, and (z) a Payment Notice in the form of Exhibit A hereto appropriately completed and executed by the Trustee. 
  

XLCA shall make payments due in respect of Avoided Payments no later than 2:00 p.m. New York City time on the Business Day following XLCA’s
receipt of the documents required under clauses (x) through (z) of the preceding paragraph. Any such documents received by XLCA after 10:00 a.m. New York City time on any Business Day 

  

 3 

 
or on any day that is not a Business Day shall be deemed to have been received by XLCA at 9:00 a.m., New York City time, on the next succeeding Business Day.
All payments made by XLCA hereunder on account of any Avoided Payment shall be disbursed to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the Final Order and not to any Holder directly (unless a Holder previously
paid such amount to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the Final Order, in which case such payment shall be disbursed to the Trustee for distribution to such Holder upon proof of such payment reasonably
satisfactory to XLCA). 
  
 XLCA hereby waives and agrees not to
assert any and all rights to require the Trustee to make demand on or to proceed against any person, party or security prior to the Trustee demanding payment under this Policy. 
  
 No defenses, set-offs and counterclaims of any kind available to XLCA so as to deny payment of any amount due in respect of
this Policy will be valid and XLCA hereby waives and agrees not to assert any and all such defenses (including without limitation, defense of fraud in the inducement or fact or any other circumstances which would have the effect of discharging a
surety in law or in equity), set-offs and counterclaims, including, without limitation, any such rights acquired by subrogation, assignment or otherwise. Upon any payment hereunder, in furtherance and not in limitation of XLCA’s equitable right
of subrogation and XLCA’s rights under the Insurance Agreement, XLCA will be subrogated to the rights of the Owner in respect of which such payment was made to receive any and all amounts due in respect of the obligations in respect of which
XLCA has made a payment hereunder. Any rights of subrogation acquired by XLCA as a result of any payment made under this Policy shall, in all respects, be subordinate and junior in right of payment to the prior indefeasible payment in full of any
amounts due the Owner on account of payments due under the Insured Obligation. 
  
 This Policy is neither transferable nor assignable, in whole or in part, except to a successor trustee duly appointed and qualified under the Indenture. All Payment Notices and other notices, presentations,
transmissions, deliveries and communications made by the Trustee to XLCA with respect to this Policy shall specifically refer to the number of this Policy and shall be made to XLCA at: 
  
 XL Capital Assurance Inc. 
 1221 Avenue of the Americas 
 New York, New York 10020 
 Attention: Surveillance 
 Telephone: (212)
478-3400 
 Facsimile: (212) 478-3597 
  
 or such other address, telephone number or facsimile number as XLCA may designate to the Trustee in writing from time to time. Each such Payment Notice
and other notice, presentation, transmission, delivery and communication shall be effective only upon actual receipt by XLCA. 
  

 4 

 The obligations of XLCA under this Policy are irrevocable, primary, absolute and unconditional, subject
to satisfaction of the conditions for making a claim under the Policy, and neither the failure of any Person to perform any covenant or obligation in favor of XLCA (or otherwise), nor the failure or omission to make a demand permitted hereunder, nor
the failure of any assignment or grant of any security interest, nor the commencement of any Insolvency Proceeding by or against the Obligor, the Seller, the Servicer, the Trustee or any other person shall in any way affect or limit XLCA’s
obligations under this Policy. If a successful action or proceeding to enforce this Policy is brought by the Trustee, the Trustee shall be entitled to recover from XLCA costs and expenses reasonably incurred, including, without limitation,
reasonable fees and expenses of counsel. 
  
 This Policy and the
obligations of XLCA hereunder shall terminate on the expiration of the Term of this Policy. This Policy shall be returned to XLCA by the Trustee upon the expiration of the Term of this Policy. 
  
 The foregoing notwithstanding, if an Insolvency Proceeding is existing by or
against the Obligor, the Seller or the Servicer during the one year and one day period set forth in clauses (ii) or (iii) of the definition of “Term of this Policy” above, then this Policy and XLCA’s obligations hereunder shall
terminate on (and the “Termination Date” shall be) the later of (i) the date of the conclusion or dismissal of such Insolvency Proceeding without continuing jurisdiction by the court in such Insolvency Proceeding, and (ii) the date on
which XLCA has made all payments required to be made under the terms of this Policy in respect of Avoided Payments. 
  
 The Property/Casualty Insurance Security Fund specified in Article 76 of the New York Insurance Law does not cover this Policy. The Florida Insurance
Guaranty Association created under Part II of Chapter 631 of the Florida Insurance Code does not cover this Policy. In the event that XLCA were to become insolvent, the California Insurance Guaranty Association, established pursuant to Article 14.2
of Chapter 1 of Part 2 of Division 1 of the California Insurance Code excludes from coverage any claims arising under this Policy. 
  
 THIS POLICY SHALL BE CONSTRUED, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED, IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION. 
  
 In the event any term or provision of the form of this Policy is inconsistent with the provision of this Endorsement, the provision of this Endorsement
shall take precedence and be binding. 
  
 [Remainder of
Page Intentionally Left Blank] 
  

 5 

 IN WITNESS WHEREOF, XL Capital Assurance Inc. has caused this Endorsement to the Policy to be
executed on the Effective Date. 
  

							
	         /s/ Linda Kobrin

	  	 /s/ Mary Jane Constant

	 Name:
	  	 Linda Kobrin
	  	 Name:
	  	 Mary Jane Constant

	 Title:
	  	 Managing Director
	  	 Title:
	  	 Associate General Counsel

  
 Policy No. CA01587A

 Exhibit A to Financial Guaranty Policy No. CA01587A 
  
 XL Capital Assurance Inc. 
 1221 Avenue of the Americas 
 New York, New York 10020 
 Attention: Surveillance 
  
 PAYMENT NOTICE 
 UNDER FINANCIAL GUARANTY POLICY NO. CA01587A 
  
 [ Identify Trustee] as Trustee (the “Trustee”), hereby
certifies to XL Capital Assurance Inc. (“XLCA”) with reference to that certain Financial Guaranty Policy, No. CA01587A, dated February 3, 2005 (the “Policy”), issued by XLCA in favor of the Trustee on behalf of the
Owner under the Indenture    , as follows: 
  
 1. The Trustee is the trustee under the Indenture and the beneficiary on behalf of each Owner of the Policy. 
  
 2. Trustee is entitled to make a demand under the Policy pursuant to the Sale and Servicing Agreement. 
  
 3. This notice relates to the [insert date] [Distribution Date]. The amount
demanded is to be paid in immediately available funds to the [Specify Account] at [Identify Financial Institution Holding Account] account number [             ] which is the
“Note Distribution Account.” 
  
 [For a Payment Notice
in respect of Insured Amounts other than Avoided Payment, use paragraph 4.] 
  
 4. The Trustee demands payment of $             which is an amount equal to [Describe calculation of the Insured Amount under Policy]. 
  
 [For a Payment Notice in respect of an Avoided Payment use the following
paragraphs [4] or [5].] 
  
 [4.] or [5.] The Trustee hereby
represents and warrants, based upon information available to it, that (i) the amount entitled to be drawn under the Policy on the date hereof in respect of Avoided Payments is the amount paid or to be paid simultaneously with such draw on the
Policy, by the Owner on account of a Preference Event [$            ] (the “Avoided Payment Amount”), (ii) the Owner with respect to which the drawing is being made
under the Policy has paid or simultaneously with such 

  

 A-1 

 
draw on the Policy will pay such Avoided Payment Amount, and (iii) the documents required by the Policy to be delivered in connection with such Avoided
Payment and Avoided Payment Amount have previously been presented to XLCA or are attached hereto. 
  
 [6] The Trustee agrees that, following payment of funds by XLCA, it shall use reasonable efforts to procure (a) that such amounts are applied directly to
the payment of any Insured Amount which is due for payment; (b) that such funds are not applied for any other purpose; and (c) the maintenance of accurate record of such payments in respect of the Insured Obligation and the corresponding claim on
the Policy and the proceeds thereof. 
  
 [7] The Trustee, on
behalf of itself and the Owners, hereby assigns to XLCA all rights and claims (including rights of actions and claims in respect of securities laws violations or otherwise) of the Trustee and the Owners with respect to the Insured Obligation to the
extent of any payments under the Policy. The foregoing assignment is in addition to, and not in limitation of, rights of subrogation otherwise available to XLCA in respect of such payments. The Trustee shall take such action and deliver such
instruments as may be reasonably required by XLCA to effectuate the purposes of the provisions of this Clause 7. 
  
 [8] The Trustee, on behalf of itself and the Owners, hereby appoints XLCA as agent and attorney-in-fact for the Trustee and the Owners in any legal
proceeding in respect of the Insured Obligation. The Trustee, on behalf of itself and the Owners, thereby (and without limiting the generality of the preceding sentence) agrees that XLCA may at any time during the continuation of any proceeding by
or against any debtor with respect to which a Preference Claim (as defined below) or other claim with respect to the Insured Obligation is asserted under any Insolvency Proceeding, direct all matters relating to such Insolvency Proceeding,
including, without limitation, (a) all matters relating to any claim in connection with a Insolvency Proceeding seeking the avoidance as a preferential transfer of any payment made with respect to the obligations (a “Preference Claim”),
(b) the direction of any appeal of any order relating to any Preference Claim and (c) the posting of any surety, supersedes or performance bond pending any such appeal. In addition, the Trustee, on behalf of itself and the Owners, hereby agrees that
XLCA shall be subrogated to, and the Trustee, on behalf of itself and the Owners, hereby delegates and assigns, to the fullest extent permitted by law, the rights of the Trustee and the Owners in the conduct of any Insolvency Proceeding, including,
without limitation, all rights of any party to an adversary proceeding or action with respect to any court order issued in connection with any such Insolvency Proceeding. 
  
 Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to them in the Policy or the
Indenture. 
  
 IN WITNESS WHEREOF, this notice has been executed
this              day of             ,
            . 
  

 A-2 

			
	 	 	                                      
   , as Trustee
  

	 By:
	 	  

	 	 	Authorized Officer

  
 Any Person
Who Knowingly And With Intent To Defraud Any Insurance Company Or Other Person Files An Application For Insurance Or Statement Of Claim Containing Any Materially False Information, Or Conceals For The Purpose Of Misleading Information Concerning Any
Fact Material Thereof, Commits A Fraudulent Insurance Act, Which Is A Crime, And Shall Also Be Subject To A Civil Penalty Not To Exceed Five Thousand Dollars And The Stated Value Of The Claim For Each Such Violation 
  

 A-3 

 Exhibit B to Financial Guaranty Insurance Policy, No. CA01587A 
  
 Form of Assignment 
  
 Reference is made to the Financial Guaranty Insurance Policy No. CA01587A,
dated February 3, 2005 (together with the Endorsement attached thereto, the “Policy”) issued by XL Capital Assurance Inc. (“XLCA”) relating to the Class [[]] Notes issued by AmeriCredit Automobile Receivables Trust
2005-A-X pursuant to that certain Indenture dated February 3, 2005. Unless otherwise defined herein, capitalized terms used in this Assignment shall have the meanings assigned thereto in the Policy as incorporated by reference therein. In connection
with the Avoided Payment of [$             ] paid by the undersigned (the “Owner”) on [            ] and the
payment by XLCA in respect of such Avoided Payment pursuant to the Policy, the Owner hereby irrevocably and unconditionally, without recourse, representation or warranty (except as provided below), sells, assigns, transfers, conveys and delivers all
of such Owner’s rights, title and interest in and to any rights or claims, whether accrued, contingent or otherwise, which the Owner now has or may hereafter acquire, against any person relating to, arising out of or in connection with such
Avoided Payment. The Owner represents and warrants that such claims and rights are free and clear of any lien or encumbrance created or incurred by such Owner.1 
  

	
	  

 Owner

  

	1	In the event that the terms of this form of assignment are reasonably determined to be insufficient solely as a result of a change of law or applicable rules after
the date of the Policy to fully vest all of the Owner’s right, title and interest in such rights and claims, the Owner and XLCA shall agree on such other form as is reasonably necessary to effect such assignment, which assignment shall be
without recourse, representation or warranty except as provided above.Purchase Agreement

 Exhibit 10.1 
  
 EXECUTION COPY 
 PURCHASE AGREEMENT 
  
 between 

 
 AFS SENSUB CORP. 
 Purchaser 
  
 and 
  
 AMERICREDIT FINANCIAL SERVICES, INC. 
 Seller 
  
 Dated as of January 27, 2005 

 TABLE OF CONTENTS 
  

							
	 	    	 	 	 	  	Page

	 ARTICLE I. DEFINITIONS
	  	1
				
	 	    	SECTION 1.1	 	 General
	  	1
	 	    	SECTION 1.2	 	 Specific Terms
	  	2
	 	    	SECTION 1.3	 	 Usage of Terms
	  	2
	 	    	SECTION 1.4	 	 [Reserved]
	  	2
	 	    	SECTION 1.5	 	 No Recourse
	  	3
	 	    	SECTION 1.6	 	 Action by or Consent of Noteholders and Certificateholder
	  	3
	 	    	SECTION 1.7	 	 Material Adverse Effect
	  	3
		
	 ARTICLE II. CONVEYANCE OF THE RECEIVABLES AND THE OTHER CONVEYED PROPERTY
	  	3
				
	 	    	SECTION 2.1	 	 Conveyance of the Receivables and the Other Conveyed Property.
	  	3
	 	    	SECTION 2.2	 	 [Reserved]
	  	4
		
	 ARTICLE III. REPRESENTATIONS AND WARRANTIES
	  	4
				
	 	    	SECTION 3.1	 	 Representations and Warranties of Seller
	  	4
	 	    	SECTION 3.2	 	 Representations and Warranties of Purchaser
	  	6
		
	 ARTICLE IV. COVENANTS OF SELLER
	  	8
				
	 	    	SECTION 4.1	 	 Protection of Title of Purchaser.
	  	8
	 	    	SECTION 4.2	 	 Other Liens or Interests
	  	9
	 	    	SECTION 4.3	 	 Costs and Expenses
	  	9
	 	    	SECTION 4.4	 	 Indemnification.
	  	9
		
	 ARTICLE V. REPURCHASES
	  	11
				
	 	    	SECTION 5.1	 	 Repurchase of Receivables Upon Breach of Warranty
	  	11
	 	    	SECTION 5.2	 	 Reassignment of Purchased Receivables
	  	12
	 	    	SECTION 5.3	 	 Waivers
	  	12
		
	 ARTICLE VI. MISCELLANEOUS
	  	13
				
	 	    	SECTION 6.1	 	 Liability of Seller
	  	13
	 	    	SECTION 6.2	 	 Merger or Consolidation of Seller or Purchaser
	  	13
	 	    	SECTION 6.3	 	 Limitation on Liability of Seller and Others
	  	13
	 	    	SECTION 6.4	 	 Seller May Own Notes or the Certificate
	  	14
	 	    	SECTION 6.5	 	 Amendment
	  	14
	 	    	SECTION 6.6	 	 Notices
	  	15
	 	    	SECTION 6.7	 	 Merger and Integration
	  	15
	 	    	SECTION 6.8	 	 Severability of Provisions
	  	15
	 	    	SECTION 6.9	 	 Intention of the Parties.
	  	15
	 	    	SECTION 6.10	 	 Governing Law
	  	15
	 	    	SECTION 6.11	 	 Counterparts
	  	16
	 	    	SECTION 6.12	 	 Conveyance of the Receivables and the Other Conveyed Property to the Issuer
	  	16
	 	    	SECTION 6.13	 	 Nonpetition Covenant
	  	16
	 	    	SECTION 6.14	 	 Benefits of Purchase Agreement
	  	16

  

 i 

	
	SCHEDULES
	
	Schedule A – Schedule of Receivables
	Schedule B – Representations and Warranties from AFS as to the Receivables

  

 ii 

 PURCHASE AGREEMENT 
  
 THIS PURCHASE AGREEMENT, dated as of January 27, 2005, executed among AFS SenSub Corp., a Nevada corporation, as purchaser
(“Purchaser”) and AmeriCredit Financial Services, Inc., a Delaware corporation, as Seller (“Seller”). 
  
 W I T N E S S E T H : 
  
 WHEREAS, Purchaser has agreed to purchase from the Seller, and the Seller, pursuant to this Agreement, is transferring to
Purchaser the Receivables and Other Conveyed Property. 
  
 NOW,
THEREFORE, in consideration of the premises and the mutual agreements hereinafter contained, and for other good and valuable consideration, the receipt of which is acknowledged, Purchaser and the Seller, intending to be legally bound, hereby agree
as follows: 
  
 ARTICLE I. 
  
 DEFINITIONS 
  
 SECTION 1.1 General. The specific terms defined in this Article
include the plural as well as the singular. The words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular Article, Section or other
subdivision, and Article, Section, Schedule and Exhibit references, unless otherwise specified, refer to Articles and Sections of and Schedules and Exhibits to this Agreement. Capitalized terms used herein without definition shall have the
respective meanings assigned to such terms in the Sale and Servicing Agreement dated as of January 27, 2005, by and among AFS SenSub Corp. (as Seller), AmeriCredit Financial Services, Inc. (in its individual capacity and as Servicer), AmeriCredit
Automobile Receivables Trust 2005-A-X (as Issuer), Wells Fargo Bank, National Association (as Backup Servicer and Trust Collateral Agent). 
  
 SECTION 1.2 Specific Terms. Whenever used in this Agreement, the following words and phrases, unless the context otherwise requires, shall have the
following meanings: 
  
 “Agreement” shall mean
this Purchase Agreement and all amendments hereof and supplements hereto. 
  
 “Closing Date” means February 3, 2005. 
  
 “Issuer” means AmeriCredit Automobile Receivables Trust 2005-A-X. 
  
 “Other Conveyed Property” means all property conveyed by the Seller to the Purchaser pursuant to this Agreement and by the Purchaser to
the Trust pursuant to Sections 2.1(b),(c),(d),(e),(f), (h) and (i) of the Sale and Servicing Agreement. 
  
 “Owner Trustee” means Wilmington Trust Company, as Owner Trustee appointed and acting pursuant to the Trust Agreement. 

 “Receivables” means the Receivables listed on the Schedule of Receivables attached
hereto. 
  
 “Related Documents” means the Notes,
the Certificate, the Custodian Agreement, the Sale and Servicing Agreement, the Indenture, the Trust Agreement, the Note Policy, the Spread Account Agreement, the Insurance Agreement, the Lockbox Agreement and the Underwriting Agreement. The Related
Documents to be executed by any party are referred to herein as “such party’s Related Documents,” “its Related Documents” or by a similar expression. 
  
 “Repurchase Event” means the occurrence of a breach of any
of the Seller’s representations and warranties hereunder or any other event which requires the repurchase of a Receivable by the Seller under the Sale and Servicing Agreement. 
  
 “Sale and Servicing Agreement” means the Sale and Servicing Agreement referred to in Section 1.1 hereof.

  
 “Schedule of Receivables” means the schedule
of Receivables sold and transferred pursuant to this Agreement which is attached hereto as Schedule A. 
  
 “Schedule of Representations” means the Schedule of Representations and Warranties attached hereto as Schedule B. 
  
 “Trust Collateral Agent” means Wells Fargo Bank, National
Association, as trust collateral agent and any successor trust collateral agent appointed and acting pursuant to the Sale and Servicing Agreement. 
  
 “Trustee” means Wells Fargo Bank, National Association, as trustee and any successor Trustee appointed and acting pursuant to the
Indenture. 
  
 SECTION 1.3 Usage of Terms. With respect to
all terms used in this Agreement, the singular includes the plural and the plural the singular; words importing any gender include the other gender; references to “writing” include printing, typing, lithography, and other means of
reproducing words in a visible form; references to agreements and other contractual instruments include all subsequent amendments thereto or changes therein entered into in accordance with their respective terms and not prohibited by this Agreement
or the Sale and Servicing Agreement; references to Persons include their permitted successors and assigns; and the terms “include” or “including” mean “include without limitation” or “including without
limitation.” 
  
 SECTION 1.4 [Reserved]. 

 
 SECTION 1.5 No Recourse. Without limiting the obligations of Seller
hereunder, no recourse may be taken, directly or indirectly, under this Agreement or any certificate or other writing delivered in connection herewith or therewith, against any stockholder, officer or director, as such, of Seller, or of any
predecessor or successor of Seller. 
  

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 SECTION 1.6 Action by or Consent of Noteholders and Certificateholder. Whenever any provision of
this Agreement refers to action to be taken, or consented to, by Noteholders or the Certificateholder, such provision shall be deemed to refer to the Certificateholder or Noteholder, as the case may be, of record as of the Record Date immediately
preceding the date on which such action is to be taken, or consent given, by Noteholders or the Certificateholder. Solely for the purposes of any action to be taken, or consented to, by Noteholders or the Certificateholder, any Note or Certificate
registered in the name of the Seller or any Affiliate thereof shall be deemed not to be outstanding; provided, however, that, solely for the purpose of determining whether the Trustee or the Trust Collateral Agent is entitled to rely upon any such
action or consent, only Notes or Certificates which the Owner Trustee, the Trustee or the Trust Collateral Agent, respectively, knows to be so owned shall be so disregarded. 
  
 SECTION 1.7 Material Adverse Effect. Whenever a determination is to be made under this Agreement as to whether a
given event, action, course of conduct or set of facts or circumstances could or would have a material adverse effect on the Noteholders (or any similar or analogous determination), such determination shall be made without taking into account the
funds available from claims under the Note Policy. 
  
 ARTICLE
II. 
  
 CONVEYANCE OF THE RECEIVABLES 
 AND THE OTHER CONVEYED PROPERTY 
  
 SECTION 2.1 Conveyance of the Receivables and the Other Conveyed Property. 
  
 (a) Subject to the terms and conditions of this Agreement, Seller hereby sells, transfers, assigns, and
otherwise conveys to Purchaser without recourse (but without limitation of its obligations in this Agreement), and Purchaser hereby purchases, all right, title and interest of Seller in and to the following described property (collectively, the
“Receivables and the Other Conveyed Property”): 
  
 (1) the Receivables and all moneys received thereon after the Cutoff Date, 
  
 (2) the Other Conveyed Property conveyed to Purchaser by Seller pursuant to this Agreement including (a) the security interests in the
Financed Vehicles granted by Obligors pursuant to the Receivables and any other interest of the Seller in such Financed Vehicles, (b) any proceeds and the right to receive any proceeds with respect to the Receivables from claims on any physical
damage, credit life or disability insurance policies covering Financed Vehicles or Obligors and any proceeds from the liquidation of the Receivables, (c) any proceeds from any Receivable repurchased by a Dealer, pursuant to a Dealer Agreement, as a
result of a breach of representation or warranty in the related Dealer Agreement, (d) any proceeds from any Receivable 
  

 3 

 repurchased by a Third-Party Lender, pursuant to an Auto Loan Purchase and Sale Agreement, as a result of
a breach of representation or warranty in the related Auto Loan Purchase and Sale Agreement, (e) all rights under any Service Contracts on the related Financed Vehicles and (f) the related Receivable Files, 
  
 (3) all of the Seller’s (a) Accounts, (b) Chattel
Paper, (c) Documents, (d) Instruments and (e) General Intangibles (as such terms are defined in the applicable UCC) relating to the property described in items (1) and (2), and 
  
 (4) all proceeds and investments with respect to items (1), (2) and (3) above. 
  
 (b) Simultaneously with the conveyance of the Receivables
and the Other Conveyed Property to Purchaser, Purchaser has paid or caused to be paid to or upon the order of Seller an amount equal to the book value of the Receivables, as set forth on the books and records of Seller, a portion by wire transfer of
immediately available funds and the remainder as a contribution to the capital of the Purchaser (a wholly-owned subsidiary of Seller). 
  
 SECTION 2.2 [Reserved] 
  
 ARTICLE III. 
  
 REPRESENTATIONS AND WARRANTIES 
  
 SECTION 3.1 Representations and Warranties of Seller. Seller makes the following representations and warranties as of the date hereof, and the Closing Date on which Purchaser relies in purchasing the
Receivables and the Other Conveyed Property and in transferring the Receivables and the Other Conveyed Property to the Issuer under the Sale and Servicing Agreement and on which the Insurer will rely in issuing the Note Policy. Such representations
are made as of the execution and delivery of this Agreement, but shall survive the sale, transfer and assignment of the Receivables and the Other Conveyed Property hereunder, and the sale, transfer and assignment thereof by Purchaser to the Issuer
under the Sale and Servicing Agreement. Seller and Purchaser agree that Purchaser will assign to Issuer all Purchaser’s rights under this Agreement and that the Trustee will thereafter be entitled to enforce this Agreement against Seller in the
Trustee’s own name on behalf of the Noteholders. 
  
 (a) Schedule of Representations. The representations and warranties set forth on the Schedule of Representations with respect to the Receivables as of the date hereof and the Closing Date, are true and correct. 
  
 (b) Organization and Good Standing. Seller has been
duly organized and is validly existing as a corporation in good standing under the laws of the State of Delaware, with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is
currently conducted, and had at all relevant times, and now has, power, authority and legal right to acquire, own and sell the Receivables and the Other Conveyed Property to be transferred to Purchaser. 
  

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 (c) Due Qualification. Seller is duly qualified to do business as a foreign
corporation in good standing, and has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of its property or the conduct of its business requires such qualification. 
  
 (d) Power and Authority. Seller has the power and
authority to execute and deliver this Agreement and its Related Documents and to carry out its terms and their terms, respectively; Seller has full power and authority to sell and assign the Receivables and the Other Conveyed Property to be sold and
assigned to and deposited with Purchaser hereunder and has duly authorized such sale and assignment to Purchaser by all necessary corporate action; and the execution, delivery and performance of this Agreement and Seller’s Related Documents
have been duly authorized by Seller by all necessary corporate action. 
  
 (e) Valid Sale; Binding Obligations. This Agreement and Seller’s Related Documents have been duly executed and delivered, shall effect a valid sale, transfer and assignment of the Receivables and the Other
Conveyed Property to the Purchaser, enforceable against Seller and creditors of and purchasers from Seller; and this Agreement and Seller’s Related Documents constitute legal, valid and binding obligations of Seller enforceable in accordance
with their respective terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights generally and by equitable limitations on the availability of
specific remedies, regardless of whether such enforceability is considered in a proceeding in equity or at law. 
  
 (f) No Violation. The consummation of the transactions contemplated by this Agreement and the Related Documents, and the
fulfillment of the terms of this Agreement and the Related Documents, shall not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice, lapse of time or both) a default under, the articles of
incorporation or bylaws of Seller, or any indenture, agreement, mortgage, deed of trust or other instrument to which Seller is a party or by which it is bound, or result in the creation or imposition of any Lien upon any of its properties pursuant
to the terms of any such indenture, agreement, mortgage, deed of trust or other instrument, other than this Agreement, the Spread Account Agreement, the Sale and Servicing Agreement and the Indenture, or violate any law, order, rule or regulation
applicable to Seller of any court or of any federal or state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over Seller or any of its properties. 
  
 (g) No Proceedings. There are no proceedings or
investigations pending or, to Seller’s knowledge, threatened against Seller, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over Seller or its properties (i)
asserting the invalidity of this Agreement or any of the Related Documents, (ii) seeking to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the Related Documents, (iii)
seeking any determination or ruling that might materially and adversely affect the performance by Seller of its obligations under, or the validity or 
  

 5 

 enforceability of, this Agreement or any of the Related Documents or (iv) seeking to affect adversely the
federal income tax or other federal, state or local tax attributes of, or seeking to impose any excise, franchise, transfer or similar tax upon, the transfer and acquisition of the Receivables and the Other Conveyed Property hereunder or under the
Sale and Servicing Agreement. 
  
 (h) True
Sale. The Receivables are being transferred with the intention of removing them from Seller’s estate pursuant to Section 541 of the Bankruptcy Code, as the same may be amended from time to time. 
  
 (i) Chief Executive Office. The chief executive
office of Seller is located at 801 Cherry Street, Suite 3900, Fort Worth, Texas 76102. 
  
 SECTION 3.2 Representations and Warranties of Purchaser. Purchaser makes the following representations and warranties, on which Seller relies in selling, assigning, transferring and conveying the Receivables
and the Other Conveyed Property to Purchaser hereunder. Such representations are made as of the execution and delivery of this Agreement, but shall survive the sale, transfer and assignment of the Receivables and the Other Conveyed Property
hereunder and the sale, transfer and assignment thereof by Purchaser to the Issuer under the Sale and Servicing Agreement. 
  
 (a) Organization and Good Standing. Purchaser has been duly organized and is validly existing and in good standing as a corporation
under the laws of the State of Nevada, with the power and authority to own its properties and to conduct its business as such properties are currently owned and such business is currently conducted, and had at all relevant times, and has, full
power, authority and legal right to acquire and own the Receivables and the Other Conveyed Property, and to transfer the Receivables and the Other Conveyed Property to the Issuer pursuant to the Sale and Servicing Agreement. 
  
 (b) Due Qualification. Purchaser is duly qualified to
do business as a foreign corporation in good standing, and has obtained all necessary licenses and approvals in all jurisdictions where the failure to do so would materially and adversely affect Purchaser’s ability to acquire the Receivables or
the Other Conveyed Property, and to transfer the Receivables and the Other Conveyed Property to the Issuer pursuant to the Sale and Servicing Agreement, or the validity or enforceability of the Receivables and the Other Conveyed Property or to
perform Purchaser’s obligations hereunder and under the Purchaser’s Related Documents. 
  
 (c) Power and Authority. Purchaser has the power, authority and legal right to execute and deliver this Agreement and to carry out
the terms hereof and to acquire the Receivables and the Other Conveyed Property hereunder; and the execution, delivery and performance of this Agreement and all of the documents required pursuant hereto have been duly authorized by Purchaser by all
necessary corporate action. 
  
 (d) No Consent
Required. Purchaser is not required to obtain the consent of any other Person, or any consent, license, approval or authorization or registration or declaration with, any governmental authority, bureau or agency in connection with the execution,
delivery or performance of this Agreement and the Related Documents, except for such as have been obtained, effected or made. 
  

 6 

 (e) Binding Obligation. This Agreement constitutes a legal, valid and binding
obligation of Purchaser, enforceable against Purchaser in accordance with its terms, subject, as to enforceability, to applicable bankruptcy, insolvency, reorganization, conservatorship, receivership, liquidation and other similar laws and to
general equitable principles. 
  
 (f) No
Violation. The execution, delivery and performance by Purchaser of this Agreement, the consummation of the transactions contemplated by this Agreement and the Related Documents and the fulfillment of the terms of this Agreement and the Related
Documents do not and will not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under, the certificate of incorporation or by-laws of Purchaser, or conflict
with or breach any of the terms or provisions of, or constitute (with or without notice or lapse of time) a default under, any indenture, agreement, mortgage, deed of trust or other instrument to which Purchaser is a party or by which Purchaser is
bound or to which any of its properties are subject, or result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement, mortgage, deed of trust or other instrument (other than the
Sale and Servicing Agreement and the Spread Account Agreement), or violate any law, order, rule or regulation, applicable to Purchaser or its properties, of any federal or state regulatory body, any court, administrative agency, or other
governmental instrumentality having jurisdiction over Purchaser or any of its properties. 
  
 (g) No Proceedings. There are no proceedings or investigations pending, or, to the knowledge of Purchaser, threatened against
Purchaser, before any court, regulatory body, administrative agency, or other tribunal or governmental instrumentality having jurisdiction over Purchaser or its properties: (i) asserting the invalidity of this Agreement or any of the Related
Documents, (ii) seeking to prevent the consummation of any of the transactions contemplated by this Agreement or any of the Related Documents, (iii) seeking any determination or ruling that might materially and adversely affect the performance by
Purchaser of its obligations under, or the validity or enforceability of, this Agreement or any of the Related Documents or (iv) that may adversely affect the federal or state income tax attributes of, or seeking to impose any excise, franchise,
transfer or similar tax upon, the transfer and acquisition of the Receivables and the Other Conveyed Property hereunder or the transfer of the Receivables and the Other Conveyed Property to the Issuer pursuant to the Sale and Servicing Agreement.

  
 In the event of any breach of a representation and warranty
made by Purchaser hereunder, Seller covenants and agrees that it will not take any action to pursue any remedy that it may have hereunder, in law, in equity or otherwise, until a year and a day have passed since the date on which all Notes,
Certificates, pass-through certificates or other similar securities issued by Purchaser, or a trust or similar vehicle formed by Purchaser, have been paid in full. Seller and Purchaser agree that damages will not be an adequate remedy for such
breach and that this covenant may be specifically enforced by Purchaser, Issuer or by the Trustee on behalf of the Noteholders and Owner Trustee on behalf of the Certificateholder. 
  

 7 

 ARTICLE IV. 
  
 COVENANTS OF SELLER 
  
 SECTION 4.1 Protection of Title of Purchaser. 
  
 (a) At or prior to the Closing Date, Seller shall have filed or caused to be filed a UCC-1 financing statement, naming Seller as seller or
debtor, naming Purchaser as purchaser or secured party and describing the Receivables and the Other Conveyed Property being sold by it to Purchaser as collateral, with the office of the Secretary of State of the State of Delaware and in such other
locations as Purchaser shall have required. From time to time thereafter, Seller shall execute and file such financing statements and cause to be executed and filed such continuation statements, all in such manner and in such places as may be
required by law fully to preserve, maintain and protect the interest of Purchaser under this Agreement, of the Issuer under the Sale and Servicing Agreement and of the Trust Collateral Agent under the Indenture in the Receivables and the Other
Conveyed Property and in the proceeds thereof. Seller shall deliver (or cause to be delivered) to Purchaser, the Trust Collateral Agent and the Insurer file-stamped copies of, or filing receipts for, any document filed as provided above, as soon as
available following such filing. In the event that Seller fails to perform its obligations under this subsection, Purchaser, Issuer or the Trust Collateral Agent may do so, at the expense of such Seller. In furtherance of the foregoing, the Seller
hereby authorizes the Purchaser, the Issuer or the Trust Collateral Agent to file a record or records (as defined in the applicable UCC), including, without limitation, financing statements, in all jurisdictions and with all filing offices as each
may determine, in its sole discretion, are necessary or advisable to perfect the security interest granted to the Purchaser pursuant to Section 6.9 of this Agreement. Such financing statements may describe the collateral in the same manner as
described herein or may contain an indication or description of collateral that describes such property in any other manner as such party may determine, in its sole discretion, is necessary, advisable or prudent to ensure the perfection of the
security interest in the collateral granted to the Purchaser herein. 
  
 (b) Seller shall not change its name, identity, state of incorporation or corporate structure in any manner that would, could or might make any financing statement or continuation statement filed by Seller (or by
Purchaser, Issuer or the Trust Collateral Agent on behalf of Seller) in accordance with paragraph (a) above seriously misleading within the meaning of §9-506 of the applicable UCC, unless they shall have given Purchaser, Issuer, the Insurer and
the Trust Collateral Agent at least 60 days’ prior written notice thereof, and shall promptly file appropriate amendments to all previously filed financing statements and continuation statements. 
  
 (c) Seller shall give Purchaser, the Issuer, the Insurer (so
long as an Insurer Default shall not have occurred and be continuing) and the Trust Collateral Agent at least 60 days’ prior written notice of any relocation that would result in a change of location of 
  

 8 

 the debtor within the meaning of Section 9-307 of the applicable UCC. Seller shall at all times maintain
(i) each office from which it services Receivables within the United States of America or Canada and (ii) its principal executive office within the United States of America. 
  
 (d) Prior to the Closing Date, Seller has maintained accounts and records as to each Receivable accurately
and in sufficient detail to permit (i) the reader thereof to know at any time as of or prior to the Closing Date, the status of such Receivable, including payments and recoveries made and payments owing (and the nature of each) and (ii)
reconciliation between payments or recoveries on (or with respect to) each Receivable and the Principal Balance as of the Closing Date. Seller shall maintain its computer systems so that, from and after the time of sale under this Agreement of the
Receivables to Purchaser, and the conveyance of the Receivables by Purchaser to the Issuer, Seller’s master computer records (including archives) that shall refer to a Receivable indicate clearly that such Receivable has been sold to Purchaser
and has been conveyed by Purchaser to the Issuer. Indication of the Issuer’s ownership of a Receivable shall be deleted from or modified on Seller’s computer systems when, and only when, the Receivable shall become a Purchased Receivable
or a Sold Receivable or shall have been paid in full or sold pursuant to the terms of the Sale and Servicing Agreement. 
  
 (e) If at any time Seller shall propose to sell, grant a security interest in, or otherwise transfer any interest in any motor vehicle
receivables to any prospective purchaser, lender or other transferee, Seller shall give to such prospective purchaser, lender, or other transferee computer tapes, records, or print-outs (including any restored from archives) that, if they shall
refer in any manner whatsoever to any Receivable (other than a Purchased Receivable or a Sold Receivable), shall indicate clearly that such Receivable has been sold to Purchaser, sold by Purchaser to Issuer, and is owned by the Issuer. 

 
 SECTION 4.2 Other Liens or Interests. Except for the conveyances
hereunder, Seller will not sell, pledge, assign or transfer to any other Person, or grant, create, incur, assume or suffer to exist any Lien on the Receivables or the Other Conveyed Property or any interest therein, and Seller shall defend the
right, title, and interest of Purchaser and the Issuer in and to the Receivables and the Other Conveyed Property against all claims of third parties claiming through or under Seller. 
  
 SECTION 4.3 Costs and Expenses. Seller shall pay all reasonable costs and disbursements in connection with the
performance of its obligations hereunder and under its Related Documents. 
  
 SECTION 4.4 Indemnification. 
  
 (a) Seller shall defend, indemnify and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against
any and all costs, expenses, losses, damages, claims, and liabilities, arising out of or resulting from any breach of any of Seller’s representations and warranties contained herein. 
  

 9 

 (b) Seller shall defend, indemnify and hold harmless Purchaser, the Issuer, the Trust
Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Insurer, the Noteholders and the Certificateholder from and against any and all costs, expenses, losses, damages, claims, and liabilities, arising out of or resulting from
the use, ownership or operation by Seller or any affiliate thereof of a Financed Vehicle. 
  
 (c) Seller shall defend, indemnify and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer,
the Owner Trustee, the Insurer, the Noteholders and the Certificateholder from and against any and all costs, expenses, losses, damages, claims and liabilities arising out of or resulting from any action taken, or failed to be taken, by it in
respect of any portion of the Receivables other than in accordance with this Agreement or the Sale and Servicing Agreement. 
  
 (d) Seller agrees to pay, and shall defend, indemnify and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the Trustee,
the Backup Servicer, the Owner Trustee, the Insurer, the Noteholders and the Certificateholder from and against any taxes that may at any time be asserted against Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer,
the Owner Trustee, the Insurer, the Noteholders and the Certificateholder with respect to the transactions contemplated in this Agreement, including, without limitation, any sales, gross receipts, general corporation, tangible or intangible personal
property, privilege, or license taxes (but not including any taxes asserted with respect to, and as of the date of, the sale, transfer and assignment of the Receivables and the Other Conveyed Property to Purchaser and by Purchaser to the Issuer or
the issuance and original sale of the Notes or issuance of the Certificate, or asserted with respect to ownership of the Receivables and Other Conveyed Property which shall be indemnified by Seller pursuant to clause (e) below, or federal, state or
other income taxes, arising out of distributions on the Notes or the Certificate or transfer taxes arising in connection with the transfer of the Notes or the Certificate) and costs and expenses in defending against the same, arising by reason of
the acts to be performed by Seller under this Agreement or imposed against such Persons. 
  
 (e) Seller agrees to pay, and to indemnify, defend and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the
Backup Servicer, the Owner Trustee, the Insurer, the Noteholders and the Certificateholder from, any taxes which may at any time be asserted against such Persons with respect to, and as of the date of, the conveyance or ownership of the Receivables
or the Other Conveyed Property hereunder and the conveyance or ownership of the Receivables under the Sale and Servicing Agreement or the issuance and original sale of the Notes or the issuance of the Certificate, including, without limitation, any
sales, gross receipts, personal property, tangible or intangible personal property, privilege or license taxes (but not including any federal or other income taxes, including franchise taxes, arising out of the transactions contemplated hereby or
transfer taxes arising in connection with the transfer of the Notes or the Certificate) and costs and expenses in defending against the same, arising by reason of the acts to be performed by Seller under this Agreement or imposed against such
Persons. 
  

 10 

 (f) Seller shall defend, indemnify, and hold harmless Purchaser, the Issuer, the Trust
Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against any and all costs, expenses, losses, claims, damages, and liabilities to the extent that such cost, expense, loss,
claim, damage, or liability arose out of, or was imposed upon Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders or the Certificateholder through the negligence, willful
misfeasance, or bad faith of Seller in the performance of its duties under this Agreement or by reason of reckless disregard of Seller’s obligations and duties under this Agreement. 
  
 (g) Seller shall indemnify, defend and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the
Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against any loss, liability or expense incurred by reason of the violation by Seller of federal or state securities laws in connection with the
registration or the sale of the Notes. 
  
 (h)
Seller shall indemnify, defend and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against any loss, liability or expense
imposed upon, or incurred by, Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders or the Certificateholder as result of the failure of any Receivable, or the sale of the related
Financed Vehicle, to comply with all requirements of applicable law. 
  
 (i) Seller shall defend, indemnify, and hold harmless Purchaser from and against all costs, expenses, losses, claims, damages, and liabilities arising out of or incurred in connection with the acceptance or
performance of Seller’s trusts and duties as Servicer under the Sale and Servicing Agreement, except to the extent that such cost, expense, loss, claim, damage, or liability shall be due to the willful misfeasance, bad faith, or negligence
(except for errors in judgment) of Purchaser. 
  
 (j) Seller shall indemnify the Owner Trustee and its officers, directors, successors, assigns, agents and servants jointly and severally with the Purchaser pursuant to Section 7.2 of the Trust Agreement. 
  
 Indemnification under this Section 4.4 shall include reasonable fees and
expenses of counsel and expenses of litigation and shall survive payment of the Notes and the Certificate. The indemnity obligations hereunder shall be in addition to any obligation that Seller may otherwise have. 
  
 ARTICLE V. 
  
 REPURCHASES 
  
 SECTION 5.1 Repurchase of Receivables Upon Breach of Warranty. Upon
the occurrence of a Repurchase Event, Seller shall, unless the breach which is the subject of such Repurchase Event shall have been cured in all material respects, repurchase the Receivable 
  

 11 

 relating thereto from the Issuer and, simultaneously with the repurchase of the Receivable, Seller shall deposit the
Purchase Amount in full, without deduction or offset, to the Collection Account, pursuant to Section 3.2 of the Sale and Servicing Agreement. It is understood and agreed that, except as set forth in Section 6.1 hereof, the obligation of Seller to
repurchase any Receivable, as to which a breach occurred and is continuing, shall, if such obligation is fulfilled, constitute the sole remedy against Seller for such breach available to Purchaser, the Issuer, the Insurer, the Backup Servicer, the
Noteholders, the Certificateholder, the Trust Collateral Agent on behalf of the Noteholders or the Owner Trustee on behalf of the Certificateholder. The provisions of this Section 5.1 are intended to grant the Issuer, the Insurer and the Trust
Collateral Agent a direct right against Seller to demand performance hereunder, and in connection therewith, Seller waives any requirement of prior demand against Purchaser with respect to such repurchase obligation. Any such repurchase shall take
place in the manner specified in Section 3.2 of the Sale and Servicing Agreement. Notwithstanding any other provision of this Agreement or the Sale and Servicing Agreement to the contrary, the obligation of Seller under this Section shall not
terminate upon a termination of Seller as Servicer under the Sale and Servicing Agreement and shall be performed in accordance with the terms hereof notwithstanding the failure of the Servicer or Purchaser to perform any of their respective
obligations with respect to such Receivable under the Sale and Servicing Agreement. 
  
 In addition to the foregoing and notwithstanding whether the related Receivable shall have been purchased by Seller, Seller shall indemnify the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the
Owner Trustee, the Insurer, the Noteholders and the Certificateholder from and against all costs, expenses, losses, damages, claims and liabilities, including reasonable fees and expenses of counsel, which may be asserted against or incurred by any
of them as a result of third party claims arising out of the events or facts giving rise to such Repurchase Events. 
  
 SECTION 5.2 Reassignment of Purchased Receivables. Upon deposit in the Collection Account of the Purchase Amount of any Receivable repurchased by
Seller under Section 5.1 hereof, Purchaser and the Issuer shall take such steps as may be reasonably requested by Seller in order to assign to Seller all of Purchaser’s and the Issuer’s right, title and interest in and to such Receivable
and all security and documents and all Other Conveyed Property conveyed to Purchaser and the Issuer directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens created by or arising as a result of
actions of Purchaser or the Issuer. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Receivable, in any enforcement suit or legal proceeding, it is held that Seller may not
enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, Purchaser and the Issuer shall, at the expense of Seller, take such steps as Seller deems reasonably necessary to
enforce the Receivable, including bringing suit in Purchaser’s or in the Issuer’s name. 
  
 SECTION 5.3 Waivers. No failure or delay on the part of Purchaser, or the Issuer as assignee of Purchaser, or the Trust Collateral Agent as
assignee of the Issuer, in exercising any power, right or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or remedy preclude any other or future exercise thereof or the
exercise of any other power, right or remedy. 
  

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 ARTICLE VI. 
 MISCELLANEOUS 
  
 SECTION
6.1 Liability of Seller. Seller shall be liable in accordance herewith only to the extent of the obligations in this Agreement specifically undertaken by Seller and the representations and warranties of Seller. 
  
 SECTION 6.2 Merger or Consolidation of Seller or Purchaser. Any
corporation or other entity (i) into which Seller or Purchaser may be merged or consolidated, (ii) resulting from any merger or consolidation to which Seller or Purchaser is a party or (iii) succeeding to the business of Seller or Purchaser, in the
case of Purchaser, which corporation has a certificate of incorporation containing provisions relating to limitations on business and other matters substantively identical to those contained in Purchaser’s certificate of incorporation, provided
that in any of the foregoing cases such corporation shall execute an agreement of assumption to perform every obligation of Seller or Purchaser, as the case may be, under this Agreement and, whether or not such assumption agreement is executed,
shall be the successor to Seller or Purchaser, as the case may be, hereunder (without relieving Seller or Purchaser of their responsibilities hereunder, if it survives such merger or consolidation) without the execution or filing of any document or
any further action by any of the parties to this Agreement. Notwithstanding the foregoing, so long as an Insurer Default shall not have occurred and be continuing, Purchaser shall not merge or consolidate with any other Person or permit any other
Person to become the successor to Purchaser’s business without the prior written consent of the Insurer. Seller or Purchaser shall promptly inform the other party, the Issuer, the Trust Collateral Agent, the Owner Trustee and, so long as an
Insurer Default shall not have occurred and be continuing, the Insurer of such merger, consolidation or purchase and assumption. Notwithstanding the foregoing, as a condition to the consummation of the transactions referred to in clauses (i), (ii)
and (iii) above, (x) immediately after giving effect to such transaction, no representation or warranty made pursuant to Sections 3.1 and 3.2 of this Agreement shall have been breached (for purposes hereof, such representations and warranties shall
speak as of the date of the consummation of such transaction) and no event that, after notice or lapse of time, or both, would become an event of default under the Insurance Agreement, shall have occurred and be continuing, (y) Seller or Purchaser,
as applicable, shall have delivered written notice of such consolidation, merger or purchase and assumption to the Rating Agencies prior to the consummation of such transaction and shall have delivered to the Issuer, the Insurer and the Trust
Collateral Agent an Officer’s Certificate of the Seller or a certificate signed by or on behalf of the Purchaser, as applicable, and an Opinion of Counsel each stating that such consolidation, merger or succession and such agreement of
assumption comply with this Section 6.2 and that all conditions precedent, if any, provided for in this Agreement relating to such transaction have been complied with, and (z) Seller or Purchaser, as applicable, shall have delivered to the Issuer,
the Insurer and the Trust Collateral Agent an Opinion of Counsel, stating, in the opinion of such counsel, either (A) all financing statements and continuation statements and amendments thereto have been executed and filed that are necessary to
preserve and protect the interest of the Issuer and the Trust Collateral Agent in the Receivables and reciting the details of the filings or (B) no such action shall be necessary to preserve and protect such interest. 
  
 SECTION 6.3 Limitation on Liability of Seller and Others. Seller and
any director, officer, employee or agent thereof may rely in good faith on the advice of counsel or on 
  

 13 

 any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising under
this Agreement. Seller shall not be under any obligation to appear in, prosecute or defend any legal action that is not incidental to its obligations under this Agreement or its Related Documents and that in its opinion may involve it in any expense
or liability. 
  
 SECTION 6.4 Seller May Own Notes or the
Certificate. Subject to the provisions of the Sale and Servicing Agreement, Seller and any Affiliate of Seller may in their individual or any other capacity become the owner or pledgee of Notes or the Certificate with the same rights as they
would have if they were not Seller or an Affiliate thereof. 
  
 SECTION 6.5 Amendment. 
  
 (a)
This Agreement may be amended by Seller and Purchaser with the prior written consent of the Insurer (so long as an Insurer Default shall not have occurred and be continuing) but without the consent of the Trust Collateral Agent, the Owner Trustee,
the Certificateholder or any of the Noteholders (i) to cure any ambiguity or (ii) to correct any provisions in this Agreement; provided, however, that such action shall not, as evidenced by an Opinion of Counsel delivered to the Issuer, the Owner
Trustee, the Insurer and the Trust Collateral Agent, adversely affect in any material respect the interests of any Certificateholder or Noteholder or, if an Insurer Default shall have occurred and be continuing, the Insurer. 
  
 (b) This Agreement may also be amended from time to time by
Seller and Purchaser, with the prior written consent of the Insurer (so long as an Insurer Default shall not have occurred and be continuing) and with the consent of the Trust Collateral Agent and, if required, the Certificateholder and the
Noteholders, in accordance with the Sale and Servicing Agreement, 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
Certificateholder or Noteholders; provided, however, the Seller provides the Trust Collateral Agent with an Opinion of Counsel, (which may be provided by the Seller’s internal counsel) that no such amendment shall increase or
reduce in any manner the amount of, or accelerate or delay the timing of, collections of payments on Receivables or distributions that shall be required to be made on any Note or Certificate; provided further that if an Insurer Default has occurred
and is continuing, such amendment shall not materially adversely affect the interests of the Insurer. 
  
 (c) Prior to the execution of any such amendment or consent, Seller shall have furnished written notification of the substance of such
amendment or consent to each Rating Agency. 
  
 (d) It shall not be necessary for the consent of Certificateholder or Noteholders pursuant to this Section to approve the particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the
substance thereof. The manner of obtaining such consents and of evidencing the authorization of the execution thereof by Certificateholder or Noteholders shall be subject to such reasonable requirements as the Trust Collateral Agent may prescribe,
including the establishment of record dates. The consent of a Holder of a Certificate or a Note 
  

 14 

 given pursuant to this Section or pursuant to any other provision of this Agreement shall be conclusive
and binding on such Holder and on all future Holders of such Certificate or Note and of any Certificate or Note issued upon the transfer thereof or in exchange thereof or in lieu thereof whether or not notation of such consent is made upon the
Certificate or Note. 
  
 SECTION 6.6 Notices. All demands,
notices and communications to Seller or Purchaser hereunder shall be in writing, personally delivered, or sent by telecopier (subsequently confirmed in writing), reputable overnight courier or mailed by certified mail, return receipt requested, and
shall be deemed to have been given upon receipt (a) in the case of Seller, to AmeriCredit Financial Services, Inc., 801 Cherry Street, Suite 3900, Fort Worth, Texas 76102, Attention: Chief Financial Officer, or (b) in the case of Purchaser, to AFS
SenSub Corp., 2265 B Renaissance Drive, Suite 17, Las Vegas, Nevada 89119, Attention: Chief Financial Officer, or such other address as shall be designated by a party in a written notice delivered to the other party or to the Issuer, Owner Trustee,
the Insurer or the Trust Collateral Agent, as applicable. 
  
 SECTION 6.7 Merger and Integration. Except as specifically stated otherwise herein, this Agreement and Related Documents set forth the entire understanding of the parties relating to the subject matter hereof, and all prior
understandings, written or oral, are superseded by this Agreement and the Related Documents. This Agreement may not be modified, amended, waived or supplemented except as provided herein. 
  
 SECTION 6.8 Severability of Provisions. If any one or more of the covenants, provisions or terms of this Agreement
shall be for any reason whatsoever held invalid, then such covenants, provisions or terms shall be deemed severable from the remaining covenants, provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the
other provisions of this Agreement. 
  
 SECTION 6.9 Intention
of the Parties. The execution and delivery of this Agreement shall constitute an acknowledgment by Seller and Purchaser that they intend that the assignment and transfer herein contemplated constitute a sale and assignment outright, and not for
security, of the Receivables and the Other Conveyed Property, conveying good title thereto free and clear of any Liens, from Seller to Purchaser, and that the Receivables and the Other Conveyed Property shall not be a part of Seller’s estate in
the event of the bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other proceeding under any federal or state bankruptcy or similar law, or the occurrence of another similar event, of, or with respect to Seller. In
the event that such conveyance is determined to be made as security for a loan made by Purchaser, the Issuer, the Noteholders or the Certificateholder to Seller, the Seller hereby grants to Purchaser a security interest in all of Seller’s
right, title and interest in and to the Receivables, the Other Conveyed Property and all other property conveyed to the Purchaser by the Seller pursuant to Section 2.1 hereof, in each case, whether now owned or existing or hereafter acquired or
arising, and this Agreement shall constitute a security agreement under applicable law. 
  
 SECTION 6.10 Governing Law. This Agreement shall be construed in accordance with, and this Agreement and all matters arising out of or relating in any way to this Agreement shall be governed by, the law of the
State of New York, without giving effect to its conflict of law provisions (other than Sections 5-1401 and 5-1402 of the New York General Obligation Law). 
  

 15 

 SECTION 6.11 Counterparts. For the purpose of facilitating the execution of this Agreement and for
other purposes, this Agreement may be executed simultaneously in any number of counterparts, each of which counterparts shall be deemed to be an original, and all of which counterparts shall constitute but one and the same instrument. 
  
 SECTION 6.12 Conveyance of the Receivables and the Other Conveyed Property
to the Issuer. Seller acknowledges that Purchaser intends, pursuant to the Sale and Servicing Agreement, to convey the Receivables and the Other Conveyed Property, together with its rights under this Agreement, to the Issuer on the date hereof.
Seller acknowledges and consents to such conveyance and pledge and waives any further notice thereof and covenants and agrees that the representations and warranties of Seller contained in this Agreement and the rights of Purchaser hereunder are
intended to benefit the Insurer, the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder. In furtherance of the foregoing, Seller covenants and agrees to perform its duties and obligations hereunder, in
accordance with the terms hereof for the benefit of the Insurer, the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder and that, notwithstanding anything to the contrary in this Agreement, Seller shall
be directly liable to the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder (notwithstanding any failure by the Servicer, the Backup Servicer or the Purchaser to perform its respective duties and
obligations hereunder or under Related Documents) and that the Trust Collateral Agent may enforce the duties and obligations of Seller under this Agreement against Seller for the benefit of the Insurer, the Owner Trustee, the Trust Collateral Agent,
the Noteholders and the Certificateholder. 
  
 SECTION 6.13
Nonpetition Covenant. Neither Purchaser nor Seller shall petition or otherwise invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Purchaser or the Issuer under any federal or
state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Purchaser or the Issuer or any substantial part of their respective property, or ordering
the winding up or liquidation of the affairs of the Purchaser or the Issuer. 
  
 SECTION 6.14 Benefits of Purchase Agreement. The Insurer and its successors and assigns shall be a third-party beneficiary to the provisions of this Purchase Agreement and shall be entitled to rely upon and
directly enforce the provisions of this Purchase Agreement so long as no Insurer Default shall have occurred and be continuing. 
  
 [Remainder of page intentionally left blank] 
  

 16 

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

			
	 AFS SENSUB CORP., as Purchaser

		
	 By
	 	 /s/ Sheli Fitzgerald

	 Name:
	 	 Sheli Fitzgerald

	 Title:
	 	 Assistant Vice President, Structured Finance

	
	 AMERICREDIT FINANCIAL SERVICES, INC.,
 as Seller

		
	 By
	 	 /s/ Susan B. Sheffield

	 Name:
	 	 Susan B. Sheffield

	 Title:
	 	 Vice President, Structured Finance

  
 Accepted: 
  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

	 as Trustee and Trust Collateral Agent

		
	 By
	 	 /s/ Marianna C. Stershic

	 Name:
	 	 Marianna C. Stershic

	 Title:
	 	 Vice President

  
 [Purchase Agreement]

 SCHEDULE A 
  
 SCHEDULE OF RECEIVABLES 
  
 [On file with AmeriCredit, the Trustee and Dewey Ballantine LLP] 

 SCHEDULE B 
  
 REPRESENTATIONS AND WARRANTIES OF 
  
 AMERICREDIT FINANCIAL SERVICES, INC. (“AMERICREDIT”) 
  
 1. Characteristics of Receivables. Each Receivable (A) was originated (i) by AmeriCredit, (ii) by a Dealer and
purchased by AmeriCredit from such Dealer under an existing Dealer Agreement or pursuant to a Dealer Assignment with AmeriCredit and was validly assigned by such Dealer to AmeriCredit pursuant to a Dealer Assignment or (iii) by a Third-Party Lender
and purchased by AmeriCredit from such Third-Party Lender under an existing Auto Loan Purchase and Sale Agreement or pursuant to a Third-Party Lender Assignment with AmeriCredit and was validly assigned by such Third-Party Lender to AmeriCredit
pursuant to a Third-Party Lender Assignment (B) was originated by AmeriCredit, such Dealer or such Third-Party Lender for the retail sale of a Financed Vehicle in the ordinary course of AmeriCredit’s, the Dealer’s or the Third-Party
Lender’s business, in each case was originated in accordance with AmeriCredit’s credit policies and was fully and properly executed by the parties thereto, and AmeriCredit, each Dealer and each Third-Party Lender had all necessary licenses
and permits to originate Receivables in the state where AmeriCredit, each such Dealer or each such Third-Party Lender was located, (C) contains customary and enforceable provisions such as to render the rights and remedies of the holder thereof
adequate for realization against the collateral security, (D) is a Receivable which provides for level monthly payments (provided that the period in the first Collection Period and the payment in the final Collection Period of the Receivable may be
minimally different from the normal period and level payment) which, if made when due, shall fully amortize the Amount Financed over the original term and (E) has not been amended or collections with respect to which waived, other than as evidenced
in the Receivable File or the Servicer’s electronic records relating thereto. 
  
 2. No Fraud or Misrepresentation. Each Receivable was originated (i) by AmeriCredit, (ii) by a Dealer and was sold by the Dealer to AmeriCredit, or (iii) by a Third-Party Lender and was sold by the Third-Party
Lender to AmeriCredit, and was sold by AmeriCredit to AFS SenSub Corp. without any fraud or misrepresentation on the part of such Dealer or Third-Party Lender in any case. 
  
 3. Compliance with Law. All requirements of applicable federal, state and local laws, and regulations thereunder
(including, without limitation, usury laws, the Federal Truth-in-Lending Act, the Equal Credit Opportunity Act, the Fair Credit Billing Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Federal Trade Commission Act, the
Moss-Magnuson Warranty Act, the Federal Reserve Board’s Regulations “B” and “Z” (including amendments to the Federal Reserve’s Official Staff Commentary to Regulation Z, effective October 1, 1998, concerning negative
equity loans), the Servicemembers Civil Relief Act, each applicable state Motor Vehicle Retail Installment Sales Act, and state adaptations of the National Consumer Act and of the Uniform Consumer Credit Code and other consumer credit laws and equal
credit opportunity and disclosure laws) in respect of the Receivables and the Financed Vehicles, have been complied with in all material respects, and each Receivable and the sale of the Financed Vehicle evidenced by each Receivable complied at the
time it was originated or made and now complies in all material respects with all applicable legal requirements. 

 4. Origination. Each Receivable was originated in the United States. 
  
 5. Binding Obligation. Each Receivable represents the genuine, legal,
valid and binding payment obligation of the Obligor thereon, enforceable by the holder thereof in accordance with its terms, except (A) as enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting the
enforcement of creditors’ rights generally and by equitable limitations on the availability of specific remedies, regardless of whether such enforceability is considered in a proceeding in equity or at law and (B) as such Receivable may be
modified by the application after the Cutoff Date of the Servicemembers Civil Relief Act, as amended; and all parties to each Receivable had full legal capacity to execute and deliver such Receivable and all other documents related thereto and to
grant the security interest purported to be granted thereby. 
  
 6. No Government Obligor. No Obligor is the United States of America or any State or any agency, department, subdivision or instrumentality thereof. 
  
 7. Obligor Bankruptcy. At the Cutoff Date no Obligor had been identified on the records of AmeriCredit as being the
subject of a current bankruptcy proceeding. 
  
 8. Schedule of
Receivables. The information set forth in the Schedule of Receivables has been produced from the Electronic Ledger and was true and correct in all material respects as of the close of business on the Cutoff Date. 
  
 9. Marking Records. By the Closing Date, AmeriCredit will have caused
the portions of the Electronic Ledger relating to the Receivables to be clearly and unambiguously marked to show that the Receivables have been sold to AFS SenSub Corp. by AmeriCredit and resold by AFS SenSub Corp. to the Trust in accordance with
the terms of the Sale and Servicing Agreement. 
  
 10. Computer
Tape. The Computer Tape made available by AmeriCredit to AFS SenSub Corp. and to the Trust on the Closing Date was complete and accurate as of the Cutoff Date and includes a description of the same Receivables that are described in the Schedule
of Receivables. 
  
 11. Adverse Selection. No selection
procedures adverse to the Noteholders or the Insurer were utilized in selecting the Receivables from those receivables owned by AmeriCredit which met the selection criteria contained in the Sale and Servicing Agreement. 
  
 12. Chattel Paper. The Receivables constitute (A) “tangible
chattel paper” within the meaning of the UCC as in effect in the States of Texas, New York, Nevada and Delaware and (B) each Receivable shall be maintained in its original “tangible” form, unless the Controlling Party has consented in
writing to such chattel paper being maintained in another form or medium. 
  
 13. One Original. There is only one original executed copy of each Receivable. 
  
 14. Receivable Files Complete. There exists a Receivable File pertaining to each Receivable and such Receivable File contains (a) a fully executed
original of the Receivable, (b) 
  

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 the original executed credit application therefor, or a paper or electronic copy thereof and (c) the original Lien
Certificate or a copy of the application therefor. Each of such documents which is required to be signed by the Obligor has been signed by the Obligor in the appropriate spaces. All blanks on any form have been properly filled in and each form has
otherwise been correctly prepared. The complete Receivable File for each Receivable currently is in the possession of the Custodian. 
  
 15. Receivables in Force. No Receivable has been satisfied, subordinated or rescinded, and the Financed Vehicle securing each such Receivable has
not been released from the lien of the related Receivable in whole or in part. No terms of any Receivable have been waived, altered or modified in any respect since its origination, except by instruments or documents identified in the Receivable
File or the Servicer’s electronic records. 
  
 16. Lawful
Assignment. No Receivable was originated in, or is subject to the laws of, any jurisdiction the laws of which would make unlawful, void or voidable the sale, transfer and assignment of such Receivable under this Agreement or pursuant to
transfers of the Notes. 
  
 17. Good Title. Immediately
prior to the conveyance of the Receivables to AFS SenSub Corp. pursuant to this Agreement, AmeriCredit was the sole owner thereof and had good and indefeasible title thereto, free of any Lien and, upon execution and delivery of this Agreement by
AmeriCredit, AFS SenSub Corp. shall have good and indefeasible title to and will be the sole owner of such Receivables, free of any Lien. No Dealer or Third-Party Lender has a participation in, or other right to receive, proceeds of any Receivable.
AmeriCredit has not taken any action to convey any right to any Person that would result in such Person having a right to payments received under the related Insurance Policies or the related Dealer Agreements, Auto Loan Purchase and Sale
Agreements, Dealer Assignments, or Third-Party Lender Assignments or to payments due under such Receivables. 
  
 18. Security Interest in Financed Vehicle. Each Receivable created or shall create a valid, binding and enforceable first priority security
interest in favor of AmeriCredit (or a Titled Third-Party Lender) in the Financed Vehicle. The Lien Certificate for each Financed Vehicle shows, or if a new or replacement Lien Certificate is being applied for with respect to such Financed Vehicle
the Lien Certificate will be received within 180 days of the Closing Date and will show, AmeriCredit (or with respect to Lien Certificates provided by the State of Maine, the Issuer) (or a Titled Third-Party Lender) named as the original secured
party under each Receivable as the holder of a first priority security interest in such Financed Vehicle. With respect to each Receivable for which the Lien Certificate has not yet been returned from the Registrar of Titles, AmeriCredit has applied
for or received written evidence from the related Dealer or Third-Party Lender that such Lien Certificate showing AmeriCredit, the Issuer or a Titled Third-Party Lender, as applicable, as first lienholder has been applied for and AmeriCredit’s
security interest has been validly assigned by AmeriCredit to AFS SenSub Corp. pursuant to this Agreement. This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Receivables in favor of the Purchaser, which
security interest is prior to all other Liens, and is enforceable as such as against creditors of and purchasers from the Seller. Immediately after the sale, transfer and assignment thereof by AmeriCredit to AFS SenSub Corp., each Receivable will be
secured by an enforceable and perfected first priority security interest in the Financed Vehicle in favor of AFS SenSub Corp. as secured party, which 
  

 B-3 

 security interest is prior to all other Liens upon and security interests in such Financed Vehicle which now exist or may
hereafter arise or be created (except, as to priority, for any lien for taxes, labor or materials affecting a Financed Vehicle). As of the Cutoff Date there were no Liens or claims for taxes, work, labor or materials affecting a Financed Vehicle
which are or may be Liens prior or equal to the Liens of the related Receivable. 
  
 19. All Filings Made. All filings (including, without limitation, UCC filings (including, without limitation, the filing by the Seller of all appropriate financing statements in the proper filing office in the
State of Delaware under applicable law in order to perfect the security interest in the Receivables granted to the Purchaser hereunder)) required to be made by any Person and actions required to be taken or performed by any Person in any
jurisdiction to give the Trust and the Trust Collateral Agent a first priority perfected lien on, or ownership interest in, the Receivables and the proceeds thereof and the Other Conveyed Property have been made, taken or performed. 
  
 20. No Impairment. AmeriCredit has not done anything to convey any
right to any Person that would result in such Person having a right to payments due under the Receivables or otherwise to impair the rights of the Trust, the Insurer, the Trustee, the Trust Collateral Agent and the Noteholders in any Receivable or
the proceeds thereof. Other than the security interest granted to the Purchaser pursuant to this Agreement and except any other security interests that have been fully released and discharged as of the Closing Date, the Seller has not pledged,
assigned, sold, granted a security interest in, or otherwise conveyed any of the Receivables. The Seller has not authorized the filing of and is not aware of any financing statements against the Seller that include a description of collateral
covering the Receivables other than any financing statement relating to the security interest granted to the Purchaser hereunder or that has been terminated. The Seller is not aware of any judgment or tax lien filings against it. 
  
 21. Receivable Not Assumable. No Receivable is assumable by another
Person in a manner which would release the Obligor thereof from such Obligor’s obligations to AmeriCredit with respect to such Receivable. 
  
 22. No Defenses. No Receivable is subject to any right of rescission, setoff, counterclaim or defense and no such right has been asserted or
threatened with respect to any Receivable. 
  
 23. No
Default. There has been no default, breach, violation or event permitting acceleration under the terms of any Receivable (other than payment delinquencies of not more than 30 days) and no condition exists or event has occurred and is continuing
that with notice, the lapse of time or both would constitute a default, breach, violation or event permitting acceleration under the terms of any Receivable, and there has been no waiver of any of the foregoing. As of the Cutoff Date no Financed
Vehicle had been repossessed. 
  
 24. Insurance. At the
time of an origination of a Receivable by AmeriCredit or a purchase of a Receivable by AmeriCredit from a Dealer or Third-Party Lender, each Financed Vehicle is required to be covered by a comprehensive and collision insurance policy (i) in an
amount at least equal to the lesser of (a) its maximum insurable value or (b) the principal amount due from the Obligor under the related Receivable, (ii) naming AmeriCredit as loss payee and 
  

 B-4 

 (iii) insuring against loss and damage due to fire, theft, transportation, collision and other risks generally covered by
comprehensive and collision coverage. Each Receivable requires the Obligor to maintain physical loss and damage insurance, naming AmeriCredit and its successors and assigns as additional insured parties, and each Receivable permits the holder
thereof to obtain physical loss and damage insurance at the expense of the Obligor if the Obligor fails to do so. No Financed Vehicle is insured under a policy of Force-Placed Insurance on the Cutoff Date. 
  
 25. Past Due. At the Cutoff Date no Receivable was more than 30 days
past due. 
  
 26. Remaining Principal Balance. At the
Cutoff Date the Principal Balance of each Receivable set forth in the Schedule of Receivables is true and accurate in all material respects. 
  
 27. Certain Characteristics of Receivables. (A) Each Receivable had a remaining maturity, as of the Cutoff Date, of not more than 72 months; (B)
each Receivable had an original maturity, as of the Cutoff Date, of not more than 72 months; (C) as of the Cutoff Date, not more than 40% of Receivables (calculated by Aggregate Principal Balance) shall have an original term to maturity of 72 months
and the weighted average original term did not exceed 64.5 months; (D) as of the Cutoff Date, each Receivable had a remaining Principal Balance as of the Cutoff Date of at least $250 and not more than $80,000; (E) each Receivable has an Annual
Percentage Rate of at least 1% and not more than 33%; (F) as of the Cutoff Date, the Receivables’ weighted average annual percentage rate was not less than 16.25%; (G) not more than 35% of the Obligors reside in Texas and California (based on
the Obligor’s mailing address as of the Cutoff Date); (H) no Receivable was more than 30 days past due as of the Cutoff Date; and (I) no funds have been advanced by AmeriCredit, any Dealer, any Third-Party Lender, or anyone acting on behalf of
any of them in order to cause any Receivable to qualify under clause (H) above, (J) each Obligor had a billing address in the United States as of the date of origination of the Receivable, is a natural person and is not an Affiliate of any party to
this Agreement, (K) each Receivable is denominated in, and each Contract provides for payment in United States dollars and (L) each Receivable arises under a Contract with respect to which AmeriCredit has performed all obligations required to be
performed by it thereunder, and in the event such Contract is an installment sales contract, delivery of the Financed Vehicle to the related Obligor has occurred.. 
  
 28. Perfection. The Servicer has taken all steps necessary to perfect its security interest against the related
Obligors in the property securing the Receivables and will take all necessary steps on behalf of the Trust to maintain the Trust’s perfection of the security interest created by each Receivable in the related Financed Vehicle. 
  
 29. Interest Calculation. Each Contract provides for the calculation
of interest payable thereunder under either the “simple interest” method, the “Rule of 78’s” method or the “precomputed interest” method. 
  
 30. Lockbox Account. Each Obligor has been, or will be, directed to make all payments on their related Receivable to
the Lockbox Account. 
  
 31. Lien Enforcement. Each
Receivable provides for enforcement of the lien or the clear legal right of repossession, as applicable, on the Financed Vehicle securing such Receivable. 
  

 B-5 

 32. Prospectus Supplement Description. Each Receivable conforms, and all Receivables in the
aggregate conform, in all material respects to the description thereof set forth in the Prospectus Supplement. 
  
 33. Risk of Loss. Each Contract contains provisions requiring the Obligor to assume all risk of loss or malfunction on the related Financed
Vehicle, requiring the Obligor to pay all sales, use, property, excise and other similar taxes imposed on or with respect to the Financed Vehicle and making the Obligor liable for all payments required to be made thereunder, without any setoff,
counterclaim or defense for any reason whatsoever, subject only to the Obligor’s right of quiet enjoyment. 
  
 34. Consumer Leases. No Receivable constitutes a “consumer lease” under either (a) the UCC as in effect in the jurisdiction the law of
which governs the Receivable or (b) the Consumer Leasing Act, 15 USC 1667. 
  

 B-6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00077-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00077-of-00352.parquet"}]]