Document:

EX-4.2

 Exhibit 4.2 
  

 
  

TRUST AGREEMENT 

BETWEEN 
 ALLY AUTO
ASSETS LLC, 
 DEPOSITOR 

AND 
 BNY MELLON TRUST
OF DELAWARE, 
 OWNER TRUSTEE and PAYING AGENT 

DATED AS OF FEBRUARY 13, 2019 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	 
			
	 Section 1.1
	  	Definitions	  	 	1	 
		
	 ARTICLE II ORGANIZATION
	  	 	1	 
			
	 Section 2.1
	  	Name	  	 	1	 
			
	 Section 2.2
	  	Office	  	 	1	 
			
	 Section 2.3
	  	Purposes and Powers	  	 	1	 
			
	 Section 2.4
	  	Appointment of Owner Trustee	  	 	2	 
			
	 Section 2.5
	  	Initial Capital Contribution of Owner Trust Estate	  	 	2	 
			
	 Section 2.6
	  	Declaration of Trust	  	 	3	 
			
	 Section 2.7
	  	Liability of the Certificateholders	  	 	3	 
			
	 Section 2.8
	  	Title to Trust Property	  	 	3	 
			
	 Section 2.9
	  	Situs of Trust	  	 	3	 
			
	 Section 2.10
	  	Representations and Warranties of the Depositor	  	 	3	 
			
	 Section 2.11
	  	Tax Treatment	  	 	4	 
		
	 ARTICLE III THE CERTIFICATES
	  	 	5	 
			
	 Section 3.1
	  	Initial Certificate Ownership	  	 	5	 
			
	 Section 3.2
	  	The Certificates	  	 	5	 
			
	 Section 3.3
	  	Execution, Authentication and Delivery	  	 	7	 
			
	 Section 3.4
	  	Registration of Certificates; Registration of Transfer and Exchange of Certificates	  	 	8	 
			
	 Section 3.5
	  	Mutilated, Destroyed, Lost or Stolen Certificates	  	 	13	 
			
	 Section 3.6
	  	Persons Deemed Certificateholders	  	 	14	 
			
	 Section 3.7
	  	Access to List of Certificateholders’ Names and Addresses	  	 	14	 
			
	 Section 3.8
	  	Maintenance of Corporate Trust Office	  	 	14	 
			
	 Section 3.9
	  	Appointment of Paying Agent	  	 	15	 
			
	 Section 3.10
	  	Depositor as Certificateholder	  	 	15	 
			
	 Section 3.11
	  	Rule 144A Information	  	 	15	 
			
	 Section 3.12
	  	Definitive Certificates	  	 	15	 
			
	 Section 3.13
	  	Notices to Clearing Agency	  	 	16	 
			
	 Section 3.14
	  	Restrictions on Note Acquisitions	  	 	16	 

  
 i 

 Table of Contents 

(continued) 
  

							
	 	  	Page	 
	 ARTICLE IV ACTIONS BY OWNER TRUSTEE
	  	 	17	 
			
	 Section 4.1
	  	Prior Notice to Certificateholders with Respect to Certain Matters	  	 	17	 
			
	 Section 4.2
	  	Action by Certificateholders with Respect to Certain Matters	  	 	17	 
			
	 Section 4.3
	  	Action by Certificateholders with Respect to Bankruptcy	  	 	18	 
			
	 Section 4.4
	  	Restrictions on Certificateholders’ Power	  	 	18	 
			
	 Section 4.5
	  	Majority Control	  	 	18	 
		
	 ARTICLE V APPLICATION OF TRUST FUNDS; CERTAIN DUTIES
	  	 	18	 
			
	 Section 5.1
	  	Establishment of Certificate Distribution Account	  	 	18	 
			
	 Section 5.2
	  	Application of Trust Funds	  	 	19	 
			
	 Section 5.3
	  	Method of Payment	  	 	20	 
			
	 Section 5.4
	  	Accounting and Reports to the Certificateholders, the Internal Revenue Service and Others	  	 	20	 
			
	 Section 5.5
	  	Signature on Returns; Other Tax Matters	  	 	20	 
		
	 ARTICLE VI THE OWNER TRUSTEE
	  	 	21	 
			
	 Section 6.1
	  	Duties of Owner Trustee	  	 	21	 
			
	 Section 6.2
	  	Rights of Owner Trustee	  	 	22	 
			
	 Section 6.3
	  	Acceptance of Trusts and Duties	  	 	22	 
			
	 Section 6.4
	  	Action upon Instruction by Certificateholders	  	 	24	 
			
	 Section 6.5
	  	Furnishing of Documents	  	 	24	 
			
	 Section 6.6
	  	Representations and Warranties of Owner Trustee	  	 	25	 
			
	 Section 6.7
	  	Reliance; Advice of Counsel	  	 	25	 
			
	 Section 6.8
	  	Owner Trustee May Own Certificates and Notes	  	 	26	 
			
	 Section 6.9
	  	Compensation and Indemnity	  	 	26	 
			
	 Section 6.10
	  	Replacement of Owner Trustee	  	 	26	 
			
	 Section 6.11
	  	Merger or Consolidation of Owner Trustee	  	 	27	 
			
	 Section 6.12
	  	Appointment of Co-Trustee or Separate Trustee	  	 	28	 
			
	 Section 6.13
	  	Eligibility Requirements for Owner Trustee	  	 	29	 
			
	 Section 6.14
	  	Compliance with the FDIC Rule	  	 	29	 
			
	 Section 6.15
	  	Notice of Events of Default	  	 	29	 

  
 ii 

 Table of Contents 

(continued) 
  

							
	 	  	Page	 
	 ARTICLE VII TERMINATION OF TRUST AGREEMENT
	  	 	30	 
			
	 Section 7.1
	  	Termination of Trust Agreement	  	 	30	 
		
	 ARTICLE VIII AMENDMENTS
	  	 	31	 
			
	 Section 8.1
	  	Amendments Without Consent of Certificateholders or Noteholders	  	 	31	 
			
	 Section 8.2
	  	Amendments With Consent of Certificateholders and Noteholders	  	 	31	 
			
	 Section 8.3
	  	Form of Amendments	  	 	32	 
		
	 ARTICLE IX MISCELLANEOUS
	  	 	33	 
			
	 Section 9.1
	  	No Legal Title to Owner Trust Estate	  	 	33	 
			
	 Section 9.2
	  	Limitations on Rights of Others	  	 	33	 
			
	 Section 9.3
	  	Derivative Actions	  	 	33	 
			
	 Section 9.4
	  	Notices	  	 	33	 
			
	 Section 9.5
	  	Severability	  	 	33	 
			
	 Section 9.6
	  	Counterparts	  	 	33	 
			
	 Section 9.7
	  	Successors and Assigns	  	 	34	 
			
	 Section 9.8
	  	No Petition	  	 	34	 
			
	 Section 9.9
	  	No Recourse	  	 	34	 
			
	 Section 9.10
	  	Headings	  	 	35	 
			
	 Section 9.11
	  	Governing Law	  	 	35	 
			
	 Section 9.12
	  	Indemnification by and Reimbursement of the Servicer	  	 	35	 
			
	 Section 9.13
	  	Effect of Amendment and Restatement	  	 	35	 
			
	 Section 9.14
	  	Information to be Provided by the Owner Trustee	  	 	35	 
			
	 Section 9.15
	  	Foreign Certificateholder Voting Restriction	  	 	37	 

  

			
	EXHIBIT A	  	Form of Certificate
		
	EXHIBIT B	  	Certificate of Trust
		
	EXHIBIT C	  	Form of Undertaking Letter

  
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 TRUST AGREEMENT, dated as of February 13, 2019, is between ALLY AUTO ASSETS LLC, a
Delaware limited liability company, in its capacity as a depositor (the “Depositor”), and BNY MELLON TRUST OF DELAWARE, a Delaware banking corporation, as trustee and not in its individual capacity (the “Owner Trustee”), and as
paying agent. 
 WHEREAS, the Depositor, Ally Bank and the Owner Trustee previously entered into a certain Trust Agreement, dated as of
July 17, 2018 and amended and restated as of January 4, 2019 (as so amended and restated, the “Original Trust Agreement”), that contemplated this Trust Agreement; and 

WHEREAS, the Depositor and the Owner Trustee desire hereby to amend and restate the Original Trust Agreement in its entirety. 

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

ARTICLE I 
 DEFINITIONS
AND INCORPORATION BY REFERENCE 
 Section 1.1 Definitions. Certain capitalized terms used in this Trust Agreement shall have
the respective meanings assigned to them in Part I of Appendix A to the Servicing Agreement of even date herewith among the Depositor, the Servicer and the Trust (as amended, supplemented or modified from time to time, the “Servicing
Agreement”). All references herein to “the Agreement” or “this Agreement” are to this Trust Agreement. All references herein to Articles, Sections and subsections are to Articles, Sections and subsections
of this Agreement unless otherwise specified. The rules of construction set forth in Part II of Appendix A to the Servicing Agreement shall be applicable to this Agreement. 

ARTICLE II 

ORGANIZATION 

Section 2.1 Name. The Trust continued hereby shall be known as Ally Auto Receivables Trust
2019-1, in which name the Owner Trustee may conduct the business of the Trust, make and execute contracts and other instruments on behalf of the Trust and sue and be sued on behalf of the Trust. The Owner
Trustee has filed the Certificate of Trust on behalf of the Trust pursuant to Section 3810(a) of the Statutory Trust Act. 

Section 2.2 Office. The office of the Trust shall be in care of the Owner Trustee at the Corporate Trust Office or at such other
address in Delaware as the Owner Trustee may designate by written notice to the Certificateholders and the Depositor. 
 Section 2.3
Purposes and Powers. The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities: 

(a) to acquire, manage and hold the Receivables; 

 (b) to issue the Notes pursuant to the Indenture and the Certificates pursuant to this
Agreement, and to sell, transfer or exchange the Notes and the Certificates; 
 (c) to acquire certain property and assets from the Depositor
on the Closing Date pursuant to the Trust Sale Agreement and any other Further Transfer Agreements, to make payments to the Noteholders and the Certificateholders, to make deposits into and withdrawals from the Reserve Account and to pay the
organizational, start-up and transactional expenses of the Trust; 
 (d) to assign, grant, transfer,
pledge, mortgage and convey the Owner Trust Estate pursuant to the terms of the Indenture and to hold, manage and distribute to the Certificateholders pursuant to the terms of this Agreement and the Servicing Agreement any portion of the Trust
Estate released from the lien of, and remitted to the Trust pursuant to, the Indenture; 
 (e) to enter into and perform its obligations and
exercise its rights under the Basic Documents to which it is to be a party; 
 (f) to engage in those activities, including entering into
agreements, that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and 

(g) subject to compliance with the Basic Documents, to engage in such other activities as may be required in connection with conservation of
the Owner Trust Estate and the making of distributions to the Securityholders. 
 The Trust shall not engage in any activity other than in
connection with the foregoing or other than as required or authorized by the terms of this Agreement or the other Basic Documents. Notwithstanding anything to the contrary in this Agreement or in any other document, neither the Trust nor the Owner
Trustee (nor any agent of either person) shall be authorized or empowered to acquire any other investments, reinvest any proceeds of the Trust or engage in activities other than the foregoing, and, in particular neither the Trust nor the Owner
Trustee (nor any agent of either person) shall be authorized or empowered to do anything that would cause the Trust to fail to qualify as a grantor trust for United States federal income tax purposes. 

Section 2.4 Appointment of Owner Trustee. The Depositor hereby appoints the Owner Trustee as trustee of the Trust to have all the
rights, powers and duties set forth herein. 
 Section 2.5 Initial Capital Contribution of Owner Trust Estate. The Depositor
sold, assigned, transferred, conveyed and set over to the Owner Trustee, as of July 17, 2018, the sum of one dollar. The Owner Trustee hereby acknowledges receipt in trust from the Depositor, as of July 17, 2018, of the foregoing
contribution which constituted the initial Owner Trust Estate. The Depositor shall pay organizational expenses of the Trust as they may arise or shall, upon the request of the Owner Trustee, promptly reimburse the Owner Trustee for any such expenses
paid by the Owner Trustee. 

  
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 Section 2.6 Declaration of Trust. The Owner Trustee hereby declares that it
shall hold the Owner Trust Estate (in the name of the Trust and not in the Owner Trustee’s name for the Trust, except as required by, and in accordance with, Section 2.8) in trust upon and subject to the conditions set
forth herein for the use and benefit of the Certificateholders, subject to the obligations of the Trust under the Basic Documents. It is the intention of the parties hereto that the Trust constitute a statutory trust under the Statutory Trust Act,
that this Agreement constitute the governing instrument of such statutory trust and that the Certificates represent the beneficial interests therein. The rights of the Certificateholders shall be determined as set forth herein and in the Statutory
Trust Act and the relationship between the parties hereto created by this Agreement shall not constitute indebtedness for any purpose. Effective as of the date hereof, the Owner Trustee shall have all rights, powers and duties set forth herein and
in the Statutory Trust Act with respect to accomplishing the purposes of the Trust. 
 Section 2.7 Liability of the
Certificateholders. Certificateholders and holders of beneficial interests therein shall be entitled to the same limitation of personal liability extended to stockholders of private corporations for profit organized under the General Corporation
Law of the State of Delaware. 
 Section 2.8 Title to Trust Property. Legal title to all the Owner Trust Estate shall be vested
at all times in the Trust as a separate legal entity except where applicable law in any jurisdiction requires title to any part of the Owner Trust Estate to be vested in a trustee or trustees, in which case title shall be deemed to be transferred to
and vested in the Owner Trustee, a co-trustee or a separate trustee, as the case may be. Any such trustee shall take such part of the Owner Trust Estate subject to the security interest of the Indenture
Trustee therein established under the Indenture. Such trustee’s acceptance of its appointment shall constitute acknowledgment of such security interest and shall constitute a Grant to the Indenture Trustee of a security interest in all property
held by such trustee. Any such trustee shall prepare and file all such financing statements naming such trustee as debtor that are necessary or advisable to perfect, make effective or continue the lien and security interest of the Indenture Trustee.

 Section 2.9 Situs of Trust. The Trust shall be located and administered in the States of Delaware or New York. All bank
accounts maintained by the Owner Trustee on behalf of the Trust shall be located in the State of Delaware or the State of New York. The Trust shall not have any employees in any State other than the State of Delaware; provided,
however, that nothing herein shall restrict or prohibit the Owner Trustee from having employees within or without the State of Delaware. Payments shall be received by the Trust only in the State of Delaware or the State of New York, and
payments shall be made by the Trust only from the State of Delaware or the State of New York. The only office of the Trust shall be the Corporate Trust Office of the Owner Trustee in the State of Delaware. 

Section 2.10 Representations and Warranties of the Depositor. The Depositor hereby represents and warrants to the Owner Trustee
that: 
 (a) The Depositor has been duly formed and is validly existing as an entity 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 presently owned and such business is presently conducted and had at all relevant times, and now has, power, authority and legal

  
 3 

 
right to acquire and own the Receivables contemplated to be transferred to the Trust pursuant to the Trust Sale Agreement. 

(b) The Depositor is duly qualified to do business as a foreign entity in good standing, and has obtained all necessary licenses and approvals,
in all jurisdictions in which the ownership or lease of property or the conduct of its business requires such qualifications. 
 (c) The
Depositor has the power and authority to execute and deliver this Agreement and any other Basic Documents to which the Depositor is a party and to carry out its terms, the Depositor has full power and authority to sell and assign the property to be
sold and assigned to and deposited with the Trust as part of the Owner Trust Estate and the Depositor has duly authorized such sale and assignment to the Trust by all necessary limited liability company action; and the execution, delivery and
performance of this Agreement have been duly authorized by the Depositor by all necessary limited liability company action. 
 (d) The
consummation of the transactions contemplated by this Agreement and any other Basic Documents to which the Depositor is a party, and the fulfillment of the terms of this Agreement and any other Basic Documents to which the Depositor is a party do
not conflict with, result in any breach of any of the terms and provisions of or constitute (with or without notice or lapse of time) a default under, the certificate of formation or limited liability company agreement of the Depositor, or any
indenture, agreement or other instrument to which the Depositor is a party or by which it is bound, or result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement or other
instrument (other than pursuant to the Basic Documents), or violate any law or, to the best of the Depositor’s knowledge, any order, rule or regulation applicable to the Depositor of any court or of any federal or State regulatory body,
administrative agency or other governmental instrumentality having jurisdiction over the Depositor or any of its properties. 

Section 2.11 Tax Treatment. The Depositor and Owner Trustee, by entering into this Agreement, express their intention that the
Trust will be treated, for United States federal income tax purposes, as a grantor trust and it is neither the purpose nor the intent of the parties hereto to create a partnership, joint venture or association taxable as a corporation. If the
Depositor is not the sole owner or beneficial owner of the Certificates, through sale of the Certificates, issuance by the Trust of additional Certificates to a Person other than the Depositor or otherwise, the Depositor and the Owner Trustee, by
entering into this Agreement, and the Certificateholders, by acquiring any Certificates or interest therein, (i) express their intention that the Certificates will, for United States federal income tax purposes, qualify as interests in a
grantor trust and (ii) unless otherwise required by the appropriate taxing authorities, agree to treat the Certificates as interests in an entity as described in clause (i) of this Section 2.11 for United States
federal income tax purposes. The parties agree that, unless otherwise required by appropriate tax authorities, the Trust shall file or cause to be filed annual or other necessary returns, reports and other forms consistent with such characterization
of the Trust for such tax purposes. In furtherance of the foregoing, (i) the purpose of the Trust shall be to protect and conserve the assets of the Trust, and the Trust shall not at any time engage in or carry on any kind of business or any
kind of commercial or investment activity other than as expressly permitted by this Trust Agreement and (ii) the Trust and Owner Trustee (and any agent of either person) shall take, or refrain from taking, all such action as is necessary to
maintain the status of the Trust as a grantor 

  
 4 

 
trust. Notwithstanding anything to the contrary in this Trust Agreement or otherwise, neither the Trust nor the Owner Trustee (nor any agent of either person) shall (1) acquire any assets or
dispose of any portion of the Trust other than pursuant to the specific provisions of this Trust Agreement, (2) vary the investment of the Trust within the meaning of Treasury Regulation
Section 301.7701-4(c) or (3) substitute new investments or reinvest so as to enable the Trust to take advantage of variations in the market to improve the investment of any Certificateholder. The
Owner Trustee shall not have any authority to manage, control, use, sell, dispose of or otherwise deal with any part of the Trust property except as required by the express terms of this Trust Agreement in accordance with the powers granted to or
the authority conferred upon the Owner Trustee pursuant to this Agreement. 
 ARTICLE III 

THE CERTIFICATES 

Section 3.1 Initial Certificate Ownership. Since the formation of the Trust by the contribution by the Depositor pursuant to
Section 2.5, the Depositor has been the sole beneficial owner of the Trust. 
 Section 3.2 The
Certificates. 
 (a) Each of the Certificates, upon original issuance, shall be issued in the form of Exhibit A hereto,
representing Definitive Certificates. 
 (b) At the election of the Certificateholder, the Definitive Certificates issued pursuant to
Section 3.2(a) may be exchanged for Book-Entry Certificates, to be delivered to the Owner Trustee, as agent for the Clearing Agency, by, or on behalf of, the Trust. The Book-Entry Certificates shall be issued in an
aggregate nominal principal amount of the exchanged Definitive Certificates, and all beneficial interests in the Book-Entry Certificates shall be owned, in the minimum principal amount of $1,100 and integral multiples of $1 in excess thereof. The
Trust shall not issue any Certificate that would cause the aggregate nominal principal amount of all Certificates to exceed $100,000, or 100,000 units, without the prior written consent of all Certificateholders. No distributions of moneys to the
Certificateholders under the Basic Documents shall be deemed to reduce the nominal principal amount of any Certificate prior to payment in full of all Notes; provided, however, that the final aggregate $100,000
distributed to the Certificateholders under the Basic Documents upon final distribution of the Trust Estate and termination of the Trust pursuant to Section 7.1 shall be deemed to repay the aggregate nominal principal
amount of the Certificates in full; and provided, further, that any failure to pay in full the nominal principal amount of a Certificate on such final distribution date shall not result in any recourse to, claim against
or liability of any Person for such shortfall. Any amounts payable to the Certificateholders on or in respect of the Certificates under the Basic Documents shall be paid and allocated to the various Certificateholders ratably based on their
respective Percentage Interests. Such Book-Entry Certificates shall initially be registered on the Certificate Register in the name of the Certificate Depository (initially, Cede & Co.), and no Certificate Owner shall receive a Definitive
Certificate representing such Certificate Owner’s interest in such Book-Entry Certificate, except as provided in Section 3.12. After such time as Book-Entry Certificates

  
 5 

 
have been issued and unless and until Definitive Certificates have been issued to the applicable Certificateholders pursuant to Section 3.12 in exchange for the
Book-Entry Certificates: 
 (i) the provisions of this Section shall be in full force and effect; 

(ii) the Certificate Registrar, the Paying Agent and the Owner Trustee shall be entitled to deal with the Clearing Agency for
all purposes of this Agreement (including the payment of amounts payable under the Basic Documents and the giving of instructions or directions hereunder) as the sole Certificateholders of the Certificates other than the Definitive Certificates, and
shall have no obligation to the Certificate Owners other than the Certificateholders of the Definitive Certificates; 
 (iii)
to the extent that the provisions of this Section conflict with any other provisions of this Agreement, the provisions of this Section shall control; 

(iv) the rights of Certificate Owners (other than the Certificateholders of the Definitive Certificates) shall be exercised
only through the Clearing Agency and shall be limited to those established by law and agreements between or among such Certificate Owners and the Clearing Agency or the Clearing Agency Participants or Persons acting through Clearing Agency
Participants. Pursuant to the Certificate Depository Agreement, unless and until Definitive Certificates are issued pursuant to Section 3.12, the initial Clearing Agency shall make book-entry transfers among the Clearing
Agency Participants and receive and transmit payments due under the Basic Documents with regard to the Book-Entry Certificates to such Clearing Agency Participants; 

(v) whenever this Agreement requires or permits actions to be taken based upon instructions or directions of Certificateholders
evidencing a specified Percentage Interest, the Clearing Agency shall deliver instructions to the Owner Trustee only to the extent that it has received instructions to such effect from Certificate Owners or Clearing Agency Participants or Persons
acting through Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the Book-Entry Certificates; 

(vi) owners of a beneficial interest in a Book-Entry Certificate shall not be entitled to have any portion of a Book-Entry
Certificate registered in their names and shall not be considered to be the Certificateholders of any Book-Entry Certificates under this Trust Agreement; and 

(vii) payments on a Book-Entry Certificate shall be made to the Clearing Agency, or its nominee, as the registered owner
thereof, and none of the Trust, the Owner Trustee or the Paying Agent shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests in a Book-Entry Certificate or
for maintaining, supervising or reviewing any records relating to the beneficial ownership interests. 
 (c) Notwithstanding any provision to
the contrary herein, so long as a Book-Entry Certificate remains outstanding and is held by or on behalf of the Clearing Agency, 

  
 6 

 
transfers of a Book-Entry Certificate, in whole or in part, shall only be made in accordance with Section 3.4. Subject to Section 3.4,
transfers of a Book-Entry Certificate shall be limited to transfers of such Book-Entry Certificate in whole, but not in part, to a nominee of the Clearing Agency or to a successor of the Clearing Agency or such successor’s nominee. 

(d) In the event that a Book-Entry Certificate is exchanged for one or more Definitive Certificates pursuant to
Section 3.12, such Certificates may be exchanged for one another only in accordance with the provisions of this Agreement and with such procedures as may be from time to time adopted by the Trust and the Owner Trustee. 

(e) The Certificates shall represent the entire beneficial interest in the Trust. The Certificates shall be executed on behalf of the Trust by
manual or facsimile signature of a Responsible Officer of the Owner Trustee. Certificates bearing the manual or facsimile signatures of individuals who were, at the time when such signatures shall have been affixed, authorized to sign on behalf of
the Trust, shall be duly issued, fully paid and non-assessable beneficial interests in the Trust, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the
authentication and delivery of such Certificates or did not hold such offices at the date of authentication and delivery of such Certificates. 

(f) The Certificates shall be typewritten, printed, lithographed or engraved or produced by any combination of these methods (with or without
steel engraved borders) all as determined by the officers executing such Certificates, as evidenced by their execution of such Certificates. The Certificates shall be issued in fully-registered form in the minimum denomination of a 1.10% Percentage
Interest. 
 (g) The terms of the Certificates set forth in Exhibit A shall form part of this Agreement. Certificate Owners, by their
acceptance of a beneficial interest in a Certificate, shall be deemed to have made the representations and agreements set forth in Exhibit A. Each transferee of a beneficial interest in a Certificate shall deliver an undertaking letter in the
form attached hereto as Exhibit C to the Owner Trustee and the Depositor. 
 Section 3.3 Execution, Authentication and
Delivery. Concurrently with the sale of the Receivables to the Trust pursuant to the Trust Sale Agreement, the Owner Trustee shall cause Certificates representing the 100% beneficial interest in the Trust to be executed on behalf of the Trust,
authenticated and delivered upon the written order of the Depositor, signed by its chairman of the board, its president or any vice president, without further limited liability company action by the Depositor. Such Certificates shall be issued to
and held by the Depositor or an Affiliate of the Depositor, as the initial Certificateholders. No Certificate shall entitle its holder to any benefit under this Agreement, or shall be valid for any purpose, unless there shall appear on such
Certificate a certificate of authentication substantially in the form set forth in Exhibit A, executed by the Owner Trustee or the Owner Trustee’s authenticating agent, by manual signature. Such authentication shall constitute conclusive
evidence that such Certificate shall have been duly authenticated and delivered hereunder. All Certificates shall be dated the date of their authentication. 

  
 7 

 Section 3.4 Registration of Certificates; Registration of Transfer and Exchange of
Certificates. 
 (a) The Certificate Registrar, as an agent of the Trust, shall keep or cause to be kept, at the office or agency
maintained pursuant to Section 3.8, a Certificate Register in which, subject to such reasonable regulations as it may prescribe, the Owner Trustee shall provide for the registration of Certificates and of transfers and
exchanges of Certificates as provided herein. BNY Mellon Trust of Delaware shall be the initial Certificate Registrar. Upon any resignation of a Certificate Registrar, the Owner Trustee shall promptly appoint a successor or, if it elects not to make
such an appointment, assume the duties of Certificate Registrar. The entries in the Certificate Register shall be conclusive absent manifest error, and the Trust and Owner Trustee shall treat each Person whose name is recorded in the Certificate
Register pursuant to the terms hereof as a Certificateholder hereunder for all purposes of this Trust Agreement. This Section 3.4 shall be construed so that the Certificates under this Trust Agreement are at all times
maintained in “registered form” within the meaning of Section 5f.103-1(c) of the United States Treasury Regulations. The Certificate Registrar shall record (a) the Percentage Interest in
all of the assets of and the right to distributions from the Trust evidenced by each Certificate and (b) all distributions made to each Certificateholder with respect to the Trust’s assets. 

(b) Any Certificateholder may at any time, without consent of the Noteholders, sell, transfer, convey or assign in any manner its rights to and
interests in the Certificates (including its right to distributions from the Reserve Account), provided that: (A) such transfer, conveyance or assignment is made to the Depositor or such entity pledges its rights and interests in the
Certificates or (B) (i) such action will not result in a reduction or withdrawal of the rating of any class of Notes, (ii) such transferee or assignee agrees to take positions for tax purposes consistent with the tax positions agreed to be
taken by the Certificateholder, (iii) the conditions set forth in Section 3.4(i) through (l) and (t) have been satisfied and (iv) in connection with any transfer of less than all of the
interests in the Certificates, the transferor and transferee shall specify the respective interests in the Certificates to be held by the transferor and transferee, which interests may be determined by a formula or on any other basis agreed by the
transferor and transferee; and provided, further, that, after the Closing Date, upon the initial sale, transfer, conveyance or assignment of an interest in the Retained Certificate to a Person other than the Depositor (or an Affiliate
of the Depositor treated as the Depositor for federal income tax purposes), counsel satisfactory to the Administrator shall render an Opinion of Counsel to the Trust and the Depositor to the effect that such sale, transfer, conveyance or assignment
by the Depositor would not cause the Trust to fail to qualify as a grantor trust for United States federal income tax purposes, provided, that if at such time of an initial transfer of an interest in the Retained Certificate, any Retained Note is
outstanding, instead of the previously described Opinion of Counsel, an Initial Certificate Transfer Opinion shall be delivered to the Indenture Trustee and the Depositor, and provided, further, that the opinions described above shall
not be required if the Depositor sells, transfers, conveys or assigns such Retained Certificate to an Affiliate of the Depositor where such Retained Certificates transferred to such Affiliate represents all the issued Certificates of the Trust and
the Affiliate (including a person treated as the Affiliate for federal income tax purposes) also owns all of the Retained Notes. In addition, (i) such sale, pledge or other transfer shall be made to a person whom the transferor reasonably
believes is a “qualified institutional buyer” (as defined in Rule 144A), acting for its own account 

  
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(and not for the account of others) or as a fiduciary or agent for others (which others also are “qualified institutional buyers”) to whom notice is given that the sale, pledge or other
transfer is being made in reliance on Rule 144A, (ii) such sale, pledge or other transfer shall occur outside of the United States to a Non-U.S. Person in accordance with Rule 903 or Rule 904 of
Regulation S of the Securities Act and that person delivers any necessary certifications pursuant to this Agreement, or (iii) such sale, pledge or other transfer shall otherwise be made in a transaction exempt from the registration requirements
of the Securities Act, in which case, (A) the Administrator shall require that both the prospective transferor and the prospective transferee certify to the Trust and the Depositor in writing the facts surrounding such transfer, which
certification shall be in form and substance satisfactory to the Administrator and the Depositor, and (B) the Administrator shall require a written opinion of counsel (which shall not be at the expense of the Depositor, the Administrator, the
Servicer, the Trust or the Owner Trustee), satisfactory to the Depositor and the Administrator to the effect that such transfer will not violate the Securities Act. 

(c) [Reserved]. 
 (d) In the event
that the Depositor is no longer the sole Certificateholder, the Administrator will promptly prepare amendments (subject to the provisions regarding amendments in the applicable Basic Documents) to the Basic Documents to the extent necessary to
reflect the establishment of the Certificate Distribution Account and the making of distributions to the Certificateholders and such other matters as shall be agreed between the Depositor and the Owner Trustee. The expense of the foregoing
amendments shall be paid by the Administrator. 
 (e) Upon surrender for registration of transfer of any Certificate at the office or agency
maintained pursuant to Section 3.8, the Owner Trustee shall execute on behalf of the Trust, authenticate and deliver (or shall cause its authenticating agent to authenticate and deliver), in the name of the
designated transferee or transferees, one or more new Certificates of a like aggregate Percentage Interest in the Trust dated the date of authentication by the Owner Trustee or any authenticating agent. 

(f) At the option of a Holder, Certificates may be exchanged for other Certificates of a like aggregate Percentage Interest in the Trust, as
shown on the applicable Certificates, upon surrender of the Certificates to be exchanged at the office or agency maintained pursuant to Section 3.8. Whenever any Certificates are so surrendered for exchange, the Owner
Trustee shall execute on behalf of the Trust, authenticate and deliver (or shall cause its authenticating agent to authenticate and deliver) one or more Certificates dated the date of authentication by the Owner Trustee or any authenticating agent.
Such Certificates shall be delivered to the Holder making the exchange. 
 (g) Every Certificate presented or surrendered for registration of
transfer or exchange shall be accompanied by a written instrument of transfer in form satisfactory to the Owner Trustee and the Certificate Registrar duly executed by the Holder or his attorney duly authorized in writing and such other documents and
instruments as may be required by Section 3.4(b). Each Certificate surrendered for registration of transfer or exchange shall be canceled 

  
 9 

 
and subsequently destroyed or otherwise disposed of by the Owner Trustee or Certificate Registrar in accordance with its customary practice. 

(h) The Owner Trustee or the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be
imposed and any other expenses of the Owner Trustee in connection with any transfer or exchange of Certificates. 
 (i) The Certificates may
not be acquired by or for the account of a Benefit Plan other than an “insurance company general account,” as defined in Prohibited Transaction Class Exemption 95-60, whose underlying assets
include less than 25% plan assets of any Benefit Plan for the entire period during which such Benefit Plan holds an interest in the Certificates, who is not and is not an affiliate of a person that has discretionary authority or control with respect
to the assets of the Trust or provides investment advice for a fee (direct or indirect) with respect to the assets of the Trust, and for which the purchase and holding of Certificates is eligible and satisfies all conditions for relief under
Prohibited Transaction Class Exemption 95-60. The Certificates also may not be acquired by or for the account of an employee benefit plan or plan that is subject to Similar Law. 

(j) Each Certificateholder that is a United States person (as defined in Section 7701(a)(30) of the Code) shall deliver to the Owner
Trustee, Paying Agent, and the Administrator on or prior to the date such person becomes a Certificateholder under this Agreement (and from time to time thereafter upon the reasonable request of the Owner Trustee, Paying Agent, or the
Administrator), executed originals of Internal Revenue Service Form W-9 certifying that such Certificateholder is exempt from U.S. federal backup withholding tax. Each Certificateholder that is not a United
States person (as defined in Section 7701(a)(30) of the Code) shall deliver to the Owner Trustee, Paying Agent, and the Administrator on or prior to the date such person becomes a Certificateholder under this Agreement (and from time to time
thereafter upon the reasonable request of the Owner Trustee, Paying Agent, or the Administrator), executed originals of Internal Revenue Service Form W-8BEN, W-8BEN-E or W-8ECI, and to the extent such Certificateholder is not the beneficial owner of the Certificate, Internal Revenue Service Form W-8IMY accompanied by Internal Revenue Service Form W-8ECI, W-8BEN-E or W-8BEN. In the case of a Certificateholder that is not a United States person (as defined in Section 7701(a)(30) of the Code) and provides an Internal Revenue Service Form
W-8BEN or W-8BEN-E, as applicable (or Internal Revenue Service Form W-8IMY accompanied
with an Internal Revenue Service Form W-8BEN or W-8BEN-E, as applicable) under this Section 3.4(j) in
order to claim the benefits of the exemption for portfolio interest under Section 881(c) of the Code (instead of, for example, claiming the benefits of an income tax treaty to which the United States is a party), such Certificateholder (or in
the case of a Certificateholder providing such Internal Revenue Service Form W-8IMY, the beneficial owner of the Certificate) hereby represents and warrants that it is not a (i) “bank” within the
meaning of Section 881(c)(3)(A) of the Code, (ii) “10 percent shareholder” of an obligor on a Receivable within the meaning of Section 881(c)(3)(B) or 871(h) of the Code (as the case may be) or (iii) “controlled foreign
corporation” with respect to such an obligor described in Section 881(c)(3)(C) of the Code. 
 (k) Each Certificateholder or
beneficial owner of a Certificate that would be subject to U.S. federal withholding tax imposed by FATCA if such person were to fail to comply 

  
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with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), shall deliver to the Owner Trustee, Paying Agent,
Administrator or any person designated by any of the foregoing (individually or collectively as the context may require, the “FATCA Administrator”) at the time or times prescribed by law and at such time or times reasonably
requested by the FATCA Administrator such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the FATCA Administrator to comply
with FATCA and to determine that such Certificateholder or beneficial owner of a Certificate has complied with such person’s obligations under FATCA or to determine the amount to deduct and withhold from such payment to such person. 

(l) No transfer of a Certificate shall be permitted if such transfer is effected through an established securities market or secondary market
(or the substantial equivalent thereof) within the meaning of Section 7704 of the Code and any regulation thereunder. 
 (m) Each
transferee of a Certificate understands that the Certificates are being offered only in a transaction not involving any public offering in the United States within the meaning of the Securities Act, none of the Certificates have been or will be
registered under the Securities Act, and, if in the future the transferee decides to offer, resell, pledge or otherwise transfer the Certificates, such Certificates may only be offered, resold, pledged or otherwise transferred in accordance with
this Agreement and the applicable legend on such Certificates set forth below. 
 (n) Each transferee of a Certificate understands that an
investment in the Certificates involves certain risks, including the risk of loss of all or a substantial part of its investment under certain circumstances. Each transferee acknowledges that it has had access to such financial and other information
concerning the Trust and the Certificates as it deemed necessary or appropriate in order to make an informed investment decision with respect to its purchase of the Certificates. Each transferee acknowledges that it has such knowledge and experience
in financial and business matters that the transferee is capable of evaluating the merits and risks of its investment in the Certificates, and the transferee and any accounts for which it is acting are each able to bear the economic risk of the
holder’s or of its investment. 
 (o) No transferee of a Certificate will offer, transfer, pledge, sell or otherwise dispose of the
Certificates or any interest in the Certificates to any Person in any manner, or solicit any offer to buy, transfer or otherwise dispose of the Certificates or any interest in the Certificates from any Person in any manner, or make any general
solicitation by means of general advertising or in any other manner, or take any other action that would constitute a distribution of the Certificates under the Securities Act or that would render the disposition of the Certificates a violation of
Section 5 of the Securities Act or any other applicable securities laws or require registration pursuant thereto, and will not authorize any Person to act on its behalf, in such manner with respect to the Certificates. 

(p) In connection with the transfer of a Certificate, the Administrator shall determine in its sole discretion that the transfer complies with
the requirements of Section 3.4(i) through 3.4(l) of this Agreement. 

  
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 (q) Each transferee of a Certificate acknowledges that the Trust, the Owner Trustee, the
Administrator, any initial purchaser or placement agent and others will rely upon the truth and accuracy of the acknowledgements, representations, warranties and agreements in this Section 3.4 and agrees that if any of the
acknowledgements, representations, warranties or agreements made by it in connection with its purchase of the Certificates are no longer accurate, the transferee will promptly notify the Trust, the Owner Trustee, the Administrator and any initial
purchaser or placement agent. 
 (r) Each Certificateholder and each transferee of a Certificate acknowledges that the Certificates will bear
a legend substantially to the following effect: 
 “THIS CERTIFICATE IS NOT NEGOTIABLE. THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE
REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER THE SECURITIES OR BLUE SKY LAWS OF ANY STATE IN THE UNITED STATES OR ANY FOREIGN SECURITIES LAWS. BY ITS ACCEPTANCE OF THIS CERTIFICATE
(OR INTEREST THEREIN) THE HOLDER OF THIS CERTIFICATE (OR SUCH INTEREST) IF, OTHER THAN THE DEPOSITOR OR ANY AFFILIATE OF THE DEPOSITOR, IS DEEMED TO REPRESENT TO THE DEPOSITOR AND THE OWNER TRUSTEE THAT IT IS EITHER (A) A “QUALIFIED
INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT OR (B) A NON-U.S. PERSON IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S OF THE SECURITIES ACT AND IS ACQUIRING THIS
CERTIFICATE (OR INTEREST THEREIN) FOR ITS OWN ACCOUNT (AND NOT FOR THE ACCOUNT OF OTHERS) OR AS A FIDUCIARY OR AGENT FOR OTHERS (WHICH OTHERS ALSO ARE QUALIFIED INSTITUTIONAL BUYERS OR NON-U.S. PERSONS). 

NO SALE, PLEDGE OR OTHER TRANSFER OF THIS CERTIFICATE (OR INTEREST THEREIN) MAY BE MADE BY ANY PERSON UNLESS EITHER (i) SUCH SALE IS MADE
TO THE DEPOSITOR OR ANY AFFILIATE OF THE DEPOSITOR, (ii) SUCH SALE, PLEDGE OR OTHER TRANSFER IS MADE TO A PERSON WHOM THE TRANSFEROR REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A), ACTING FOR ITS
OWN ACCOUNT (AND NOT FOR THE ACCOUNT OF OTHERS) OR AS A FIDUCIARY OR AGENT FOR OTHERS (WHICH OTHERS ALSO ARE “QUALIFIED INSTITUTIONAL BUYERS”) TO WHOM NOTICE IS GIVEN THAT THE SALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON
RULE 144A, (iii) SUCH SALE, PLEDGE OR OTHER TRANSFER OCCURS OUTSIDE OF THE UNITED STATES TO A NON-U.S. PERSON IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S OF THE SECURITIES ACT AND THAT PERSON
DELIVERS ANY NECESSARY CERTIFICATIONS PURSUANT TO TERMS OF THE TRUST AGREEMENT, OR (iv) SUCH SALE, PLEDGE OR OTHER TRANSFER IS OTHERWISE MADE IN A TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS

  
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OF THE SECURITIES ACT, IN WHICH CASE (A) THE OWNER TRUSTEE SHALL REQUIRE THAT BOTH THE PROSPECTIVE TRANSFEROR AND THE PROSPECTIVE TRANSFEREE CERTIFY TO THE OWNER TRUSTEE AND THE DEPOSITOR IN
WRITING THE FACTS SURROUNDING SUCH TRANSFER, WHICH CERTIFICATION SHALL BE IN FORM AND SUBSTANCE SATISFACTORY TO THE OWNER TRUSTEE AND THE DEPOSITOR, AND (B) THE OWNER TRUSTEE SHALL REQUIRE A WRITTEN OPINION OF COUNSEL (WHICH SHALL NOT BE AT THE
EXPENSE OF THE DEPOSITOR, THE ADMINISTRATOR, THE SERVICER, THE TRUST OR THE OWNER TRUSTEE) SATISFACTORY TO THE DEPOSITOR AND THE OWNER TRUSTEE TO THE EFFECT THAT SUCH TRANSFER WILL NOT VIOLATE THE SECURITIES ACT.” 

(s) Each transferee of a Definitive Certificate shall deliver an undertaking letter in the form attached hereto as Exhibit C to the
Owner Trustee, the Administrator and the Depositor. 
 (t) After the Closing Date, a Certificate (or beneficial interest therein) may not be
sold or transferred to a Person that beneficially owns a Note (or interest therein) if such sale or transfer will result in such Person beneficially owning 100% of the Certificates of the Trust (and any other interest in the Trust treated as equity
for United States federal income tax purposes); provided, however, that such sale or transfer shall be permitted if the transferee thereof covenants and agrees in writing, in form and substance satisfactory to the Administrator and Indenture
Trustee, that it will not transfer its Certificates or Notes except upon prior delivery to the Indenture Trustee of an Opinion of Counsel substantially to the effect described in Section 2.4(j) of the Indenture and subject to any tracking
conditions that may be imposed by the Administrator with respect to such Notes pursuant to Section 2.4(j) of the Indenture. 

Section 3.5 Mutilated, Destroyed, Lost or Stolen Certificates. 

(a) If (i) any mutilated Certificate is surrendered to the Certificate Registrar, or the Certificate Registrar receives evidence to its
satisfaction of the destruction, loss or theft of any Certificate, and (ii) there is delivered to the Certificate Registrar, the Owner Trustee and the Trust such security or indemnity as may be required by them to hold each of them harmless,
then, in the absence of notice to the Certificate Registrar or the Owner Trustee that such Certificate has been acquired by a protected purchaser, the Owner Trustee shall execute on behalf of the Trust and the Owner Trustee shall authenticate and
deliver (or shall cause its authenticating agent to authenticate and deliver), in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a replacement Certificate of a like aggregate Percentage Interest in the Trust,
as shown on the Certificate; provided, however, that if any such destroyed, lost or stolen Certificate, but not a mutilated Certificate, shall have become or within seven (7) days shall be payable, then instead of issuing a
replacement Certificate the Owner Trustee may make distributions to such destroyed, lost or stolen Certificate when so payable. 
 (b) If,
after the delivery of a replacement Certificate or payment in respect of a destroyed, lost or stolen Certificate pursuant to Section 3.5(a), a protected purchaser of the original Certificate in lieu of which such
replacement Certificate was issued presents for 

  
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payment or distribution such original Certificate, the Owner Trustee shall be entitled to recover such replacement Certificate (and any distributions or payments made with respect thereto) or
such payment or distribution from the Person to whom it was delivered or any Person taking such replacement Certificate from such Person to whom such replacement Certificate was delivered or any assignee of such Person, except a protected purchaser,
and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Owner Trustee in connection therewith. 

(c) In connection with the issuance of any replacement Certificate under this Section 3.5, the Owner Trustee may
require the payment by the Holder of such Certificate of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Owner Trustee
and the Certificate Registrar) connected therewith. 
 (d) Any duplicate Certificate issued pursuant to this
Section 3.5 in replacement of any mutilated, destroyed, lost or stolen Certificate shall constitute an original additional beneficial interest in the Trust, whether or not the mutilated, destroyed, lost or stolen
Certificate shall be found at any time or be enforced by anyone, and shall be entitled to all the benefits of this Agreement equally and proportionately with any and all other Certificates duly issued hereunder. 

(e) The provisions of this Section 3.5 are exclusive and shall preclude (to the extent lawful) all other rights and
remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Certificates. 
 Section 3.6 Persons
Deemed Certificateholders. Subject to the provisions of Section 3.4 herein, prior to due presentation of a Certificate for registration of transfer, the Owner Trustee or the Certificate Registrar shall treat the Person in whose name any
Certificate shall be registered in the Certificate Register as the Certificateholder of such Certificate for the purpose of receiving distributions pursuant to Article V and for all other purposes whatsoever, and neither the Owner Trustee nor
the Certificate Registrar shall be affected by any notice to the contrary. 
 Section 3.7 Access to List of
Certificateholders’ Names and Addresses. The Certificate Registrar shall furnish or cause to be furnished to the Servicer and the Depositor, within fifteen (15) days after receipt by the Certificate Registrar of a request
therefor from the Servicer or the Depositor in writing, a list of the names and addresses of the Certificateholders as of the most recent Record Date. Each Holder, by receiving and holding a Certificate, shall be deemed to have agreed not to hold
any of the Servicer, the Depositor, the Certificate Registrar or the Owner Trustee accountable by reason of the disclosure of its name and address, regardless of the source from which such information was derived. 

Section 3.8 Maintenance of Corporate Trust Office. The Owner Trustee shall maintain an office or offices or agency or agencies
where Certificates may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Owner Trustee in respect of the Certificates and the Basic Documents may be served. The Owner Trustee initially designates
its office located at 301 Bellevue Parkway, 3rd Floor, Wilmington, 

  
 14 

 
Delaware 19809, as its principal office for such purposes. The Owner Trustee shall give prompt written notice to the Depositor, to the Servicer and to the Certificateholders of any change in the
location of the Certificate Register or any such office or agency. 
 Section 3.9 Appointment of Paying Agent. Except as
otherwise provided in Section 5.2, the Paying Agent shall make distributions to Certificateholders from the Certificate Distribution Account pursuant to Section 5.2 and shall report the amounts of
such distributions to the Owner Trustee and the Servicer; provided, however, that no such reports shall be required so long as the Depositor is the sole Certificateholder. Any Paying Agent shall have the revocable power to withdraw
funds from the Certificate Distribution Account for the purpose of making the distributions referred to above. The Owner Trustee may revoke such power and remove the Paying Agent if the Owner Trustee determines in its sole discretion that the Paying
Agent shall have failed to perform its obligations under this Agreement in any material respect. The Paying Agent shall initially be BNY Mellon Trust of Delaware and any co-paying agent chosen by BNY Mellon
Trust of Delaware. BNY Mellon Trust of Delaware shall be permitted to resign as Paying Agent upon thirty (30) days’ written notice to the Owner Trustee. If BNY Mellon Trust of Delaware shall no longer be the Paying Agent, the Owner Trustee
shall appoint a successor to act as Paying Agent (which shall be a bank or trust company). The Owner Trustee shall cause such successor Paying Agent or any additional Paying Agent appointed by the Owner Trustee to execute and deliver to the Owner
Trustee an instrument in which such successor Paying Agent or additional Paying Agent shall agree with the Owner Trustee that as Paying Agent, such successor Paying Agent or additional Paying Agent shall hold all sums, if any, held by it for payment
to the Certificateholders in trust for the benefit of the Certificateholders entitled thereto until such sums shall be paid to such Certificateholders. The Paying Agent shall return all unclaimed funds to the Owner Trustee and upon removal of a
Paying Agent such Paying Agent shall also return all funds in its possession to the Owner Trustee. The provisions of Sections 6.3, 6.6, 6.7 and 6.9 shall apply to the Owner Trustee also in its role as Paying Agent or
Certificate Registrar for so long as the Owner Trustee shall act as Paying Agent or Certificate Registrar and, to the extent applicable, to any other paying agent, certificate registrar or authenticating agent appointed hereunder. Any reference in
this Agreement to the Paying Agent shall include any co-paying agent unless the context requires otherwise. 

Section 3.10 Depositor as Certificateholder. The Depositor in its individual or any other capacity may become the owner or pledgee
of Certificates and may otherwise deal with the Owner Trustee or its Affiliates as if it were not the Depositor. 
 Section 3.11
Rule 144A Information. The Depositor shall, during any period in which a purchaser of the Certificates holds such Certificate and in which the Depositor is not subject to Section 13 or 15(d) of the Exchange Act, make available, upon
request, to any holder of such Certificates in connection with any sale thereof and any prospective purchaser of Certificates from such holder, the information specified in Rule 144A(d)(4) under the Act. 

Section 3.12 Definitive Certificates. If (i) the Administrator advises the Owner Trustee in writing that the Clearing Agency
is no longer willing or able to properly discharge its responsibilities with respect to the Book-Entry Certificates and the Trust is unable to locate a qualified successor; (ii) the Administrator, at its option, advises the Owner Trustee in
writing that it elects to terminate the book-entry system through the Clearing Agency; or (iii) Certificate 

  
 15 

 
Owners representing beneficial interests aggregating at least a majority of the Percentage Interests in the Trust advise the Clearing Agency in writing that the continuation of a book-entry
system through the Clearing Agency is no longer in the best interests of the Certificate Owners, then the Clearing Agency shall notify all Certificate Owners and the Owner Trustee of the occurrence of any such event and of the availability of
Definitive Certificates to Certificate Owners requesting the same. Upon surrender to the Owner Trustee of the typewritten Certificate or Certificates representing the Book-Entry Certificate by the Clearing Agency, accompanied by registration
instructions, the Trust shall execute and the Owner Trustee shall authenticate the Definitive Certificates in accordance with the instructions of the Clearing Agency. None of the Trust, the Certificate Registrar or the Owner Trustee shall be liable
for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Certificates, the Owner Trustee shall recognize the Holders of the Definitive
Certificates as Certificateholders. 
 Section 3.13 Notices to Clearing Agency. Whenever a notice or other communication to the
Certificateholders is required under this Agreement, unless and until Definitive Certificates shall have been issued to the owner of a Certificate pursuant to Section 3.12, the Owner Trustee shall give all such notices and
communications specified herein to be given to the Certificateholders to the Clearing Agency, and shall have no obligation to the beneficial owner of a Certificate. 

Section 3.14 Restrictions on Note Acquisitions. Neither a member of any “expanded group” (as defined in Treasury
Regulation Section 1.385-1(c)(4)) that includes the Trust or a Certificate Owner nor a “controlled partnership” (as defined in Treasury Regulation
Section 1.385-1(c)(1)) of either such expanded group shall acquire (or hold) any Notes from the Trust, any Affiliate, or through the marketplace prior to obtaining an Opinion of Counsel stating that
(i) the acquisition or reacquisition of such Note will not cause the Trust, initially upon such acquisition or subsequent to the acquisition, to be classified as an association or publicly traded partnership treated as a corporation for federal
income tax purposes and will not cause the Note to be recharacterized as stock pursuant to Treasury Regulations under Section 385 of the Code or otherwise cause the Trust not to be classified as a grantor trust. The preceding sentence shall not
apply to (i) any U.S. corporate member of the same U.S. corporate affiliated group (as defined in Section 1504 of the Code) filing a consolidated federal income tax return that includes the Trust or every applicable Certificate Owner (the
“Trust Consolidated Group”) or (ii) a partnership all of the partners of which are either such U.S. corporate members of the Trust Consolidated Group as described in clause (A) or partnerships all of the partners of which
are such U.S. corporate members of the Trust Consolidated Group as described in clause (A). No member of any “expanded group” that includes the Trust or Certificate Owner (as defined in Treasury Regulation
Section 1.385-1(b)(3)) or “controlled partnership” of such expanded group (as defined in Treasury Regulation Section 1.385-1(c)(4)) shall transfer
any Notes outside the expanded group prior to obtaining an Opinion of Counsel stating that the transfer of such Note will not cause the Trust to be classified as an association or publicly traded partnership treated as a corporation for federal
income tax purposes and will not cause the Note to be recharacterized as stock pursuant to Treasury Regulations under Section 385 of the Code or otherwise cause the Trust not to be classified as a grantor trust. 

  
 16 

 ARTICLE IV 

ACTIONS BY OWNER TRUSTEE 

Section 4.1 Prior Notice to Certificateholders with Respect to Certain Matters. The Owner Trustee shall not take action with
respect to the following matters, unless (i) the Owner Trustee shall have notified the Certificateholders in writing of the proposed action at least thirty (30) days and not more than forty-five (45) days before the taking of such
action, and (ii) the Certificateholders shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that such Certificateholders have withheld consent or provided alternative direction: 

(a) the initiation of any claim or lawsuit by the Trust (other than an action to collect on a Receivable or an action by the Indenture Trustee
pursuant to the Indenture) and the compromise of any action, claim or lawsuit brought by or against the Trust (other than an action to collect on a Receivable or an action by the Indenture Trustee pursuant to the Indenture); 

(b) except as may be required under the Statutory Trust Act, the election by the Trust to file an amendment to the Certificate of Trust, a
conformed copy of which is attached hereto as Exhibit B; 
 (c) the amendment of the Indenture by a supplemental indenture in
circumstances where the consent of any Noteholder is required; 
 (d) the amendment of the Indenture by a supplemental indenture in
circumstances where the consent of any Noteholder is not required and such amendment materially adversely affects the interests of the Certificateholders; 

(e) the amendment, change or modification of the Administration Agreement, except to cure any ambiguity or to amend or supplement any provision
in a manner that would not materially adversely affect the interests of the Certificateholders; or 
 (f) the appointment pursuant to the
Indenture of a successor Note Registrar, Paying Agent or Indenture Trustee or pursuant to this Agreement of a successor Certificate Registrar, or the consent to the assignment by the Note Registrar, Paying Agent, Indenture Trustee or Certificate
Registrar of its obligations under the Indenture or this Agreement, as applicable. 
 Section 4.2 Action by Certificateholders with
Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the written direction of the Majority Certificateholders, to remove the Administrator under the Administration Agreement pursuant to Section 10 thereof,
appoint a successor Administrator pursuant to Section 10 of the Administration Agreement, remove the Servicer under the Servicing Agreement pursuant to Section 7.02 thereof or, except as expressly provided in the Basic Documents, sell the
Receivables or any interest therein after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Majority Certificateholders. 

  
 17 

 Section 4.3 Action by Certificateholders with Respect to Bankruptcy.
Notwithstanding any prior termination of this Agreement, the Owner Trustee shall not have the power to commence a voluntary case under Title 11 of the United States Code or any successor provision relating to the Trust without the prior approval of
the Majority Certificateholders and the delivery to the Owner Trustee by such Majority Certificateholders of a certificate certifying that such Majority Certificateholders reasonably believe that the Trust is insolvent; provided,
however, that under no circumstances shall the Owner Trustee commence or join in commencing any such case prior to the date that is one year and one day after the termination of the Trust. 

Section 4.4 Restrictions on Certificateholders’ Power. No Certificateholder shall direct the Owner Trustee to
take or refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Agreement, including Section 2.3 of this Agreement, or any of the other
Basic Documents, nor shall the Owner Trustee be obligated to follow any such direction, if given. The Certificateholders shall not and shall not direct the Owner Trustee to take action that would violate the provisions of
Section 6.1 and, if given, the Owner Trustee shall not be obligated to follow any such direction. 

Section 4.5 Majority Control. Except as expressly provided herein, any action that may be taken or consent that may be given or
withheld by the Certificateholders under this Agreement shall be effective if such action is taken or such consent is given or withheld by the Majority Certificateholders as of the close of the preceding Distribution Date. Except as expressly
provided herein, any written notice, instruction, direction or other document of the Certificateholders delivered pursuant to this Agreement shall be effective if signed by the Majority Certificateholders at the time of the delivery of such notice.

 ARTICLE V 

APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 

Section 5.1 Establishment of Certificate Distribution Account. 

(a) Except as otherwise provided in Section 5.2, the Servicer, for the benefit of the Certificateholders, shall
establish and maintain in the name of the Trust an Eligible Deposit Account known as the Ally Auto Receivables Trust 2019-1 Certificate Distribution Account (the “Certificate Distribution
Account”), bearing an additional designation clearly indicating that the funds deposited therein are held for the benefit of the Certificateholders. The Certificate Distribution Account shall initially be established as a segregated trust
account with The Bank of New York Mellon. 
 (b) The Certificateholders shall possess all right, title and interest in and to all funds on
deposit from time to time in the Certificate Distribution Account and in all proceeds thereof. Except as otherwise provided herein, in the Indenture or in the Servicing Agreement, the Certificate Distribution Account shall be under the sole dominion
and control of the Owner Trustee or the Paying Agent for the benefit of the Certificateholders. If, at any time, the Certificate Distribution Account ceases to be an Eligible Deposit Account, the Owner Trustee (or the Servicer on behalf of the Owner
Trustee, if the Certificate Distribution Account is not then held by the Owner Trustee or an Affiliate thereof) shall within ten (10) Business Days (or such 

  
 18 

 
longer period, not to exceed thirty (30) calendar days, as to which each Rating Agency may consent) establish a new Certificate Distribution Account as an Eligible Deposit Account and shall
transfer any cash or any investments to such new Certificate Distribution Account. 
 Section 5.2 Application of Trust Funds.

 (a) On each Distribution Date, the Owner Trustee or the Paying Agent shall distribute to the Certificateholders, on a pro rata basis,
amounts equal to the amounts deposited in the Certificate Distribution Account pursuant to Section 4.06 and Section 4.07 of the Servicing Agreement on or prior to such Distribution Date. Funds received by the Owner Trustee or the Paying
Agent by 1:00 p.m. (Eastern time) on any Distribution Date will be distributed to the Certificateholders on such Distribution Date. Each of the Owner Trustee and the Paying Agent shall use its best efforts to distribute any funds received after 1:00
p.m. (Eastern time) on any Distribution Date to the Certificateholders as soon as reasonably possible, but neither the Owner Trustee nor the Paying Agent shall be liable if such funds are not distributed until the next Business Day. Any funds
received by the Owner Trustee or the Paying Agent after 1:00 p.m. (Eastern time) shall be held uninvested in the Certificate Distribution Account until distributed to the Certificateholders, and neither the Owner Trustee nor the Paying Agent shall
be liable for any interest thereon. Notwithstanding the foregoing or anything else to the contrary in this Agreement or the other Basic Documents, if and for so long as Certificates representing in the aggregate a 100% beneficial interest in the
Trust are held by the Depositor, (i) no Certificate Distribution Account shall be required to be established or maintained and (ii) all distributions and payments on the Certificates (including the final distribution as contemplated by
Section 7.1(c) hereof) required hereunder or under the Servicing Agreement shall be made directly to the Depositor by the Indenture Trustee (whether or not the Servicing Agreement otherwise contemplates deposit into the
Certificate Distribution Account) and the Owner Trustee shall have no duty or liability to see to such distribution. 
 (b) On each
Distribution Date, the Owner Trustee shall send to each Certificateholder the statement provided to the Owner Trustee by the Servicer pursuant to Section 4.09 of the Servicing Agreement on such Distribution Date; provided that no such
statement shall be required to be sent by the Owner Trustee if and for so long as the Depositor is the sole Certificateholder. 
 (c) If any
withholding tax is imposed on the Trust’s payment (or allocations of income) to a Certificateholder, such tax shall reduce the amount otherwise distributable to the Certificateholder in accordance with this
Section 5.2; provided that the Owner Trustee or the Paying Agent shall not have an obligation to withhold any such amount if and for so long as the Depositor is the sole Certificateholder. The Owner Trustee or the
Paying Agent is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders sufficient funds for the payment of any tax that is legally payable by the Trust (but such authorization shall not prevent the
Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings). The amount of any withholding tax imposed with respect to a
Certificateholder shall be treated as cash distributed to such Certificateholder at the time it is withheld by the Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a
distribution (such as a distribution to 

  
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a non-U.S. Certificateholder), the Owner Trustee or the Paying Agent may in its sole discretion withhold such amounts in accordance with this
Section 5.2(c). If a Certificateholder wishes to apply for a refund of any such withholding tax, the Owner Trustee or the Paying Agent shall reasonably cooperate with such Certificateholder in making such claim so long as
such Certificateholder agrees to reimburse the Owner Trustee or the Paying Agent for any out-of-pocket expenses incurred. 

(d) If the Indenture Trustee holds escheated funds for payment to the Trust pursuant to Section 3.3(e) of the
Indenture, the Owner Trustee shall, upon notice from the Indenture Trustee that such funds exist, submit on behalf of the Trust an Issuing Entity Order to the Indenture Trustee pursuant to Section 3.3(e) of the Indenture
instructing the Indenture Trustee to pay such funds to or at the order of the Depositor. 
 Section 5.3 Method of Payment.
Subject to Section 7.1(c), distributions required to be made to Certificateholders on any Distribution Date shall be made to each Certificateholder of record on the related Record Date by wire transfer, in immediately
available funds, to the account of such Holder at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided to the Certificate Registrar appropriate written instructions at least five
(5) Business Days prior to such Distribution Date or if not, by check mailed to such Certificateholder at the address of such Certificateholder appearing in the Certificate Register; provided, however, that, unless and until
Definitive Certificates have been issued pursuant to Section 3.12, with respect to Book-Entry Certificates registered on the applicable Record Date in the name of the Certificate Depository (initially, Cede & Co.),
payment shall be made by wire transfer in immediately available funds to the account designated by the Certificate Depository. 

Section 5.4 Accounting and Reports to the Certificateholders, the Internal Revenue Service and Others. The Owner Trustee shall
maintain (or cause to be maintained) the books of the Trust on a calendar year basis on the accrual method of accounting, deliver to each Certificateholder, as may be required by the Code and applicable Treasury Regulations or otherwise, such
information as may be required to enable each Certificateholder to prepare its federal income tax return, file such tax returns relating to the Trust and make such elections as may from time to time be required or appropriate under any applicable
State or federal statute or rule or regulation thereunder so as to maintain the Trust’s characterization as an entity described in Section 2.11 for federal income tax purposes, cause such tax returns to be signed in
the manner required by law and collect or cause to be collected any withholding tax as described in and in accordance with Section 5.2(c) with respect to income or distributions to Certificateholders. The Owner Trustee (or,
if the Depositor is the sole Certificateholder, the Administrator) shall annually cause to be sent to each Certificateholder a separate statement setting forth each such Certificateholder’s share of items of income, gain, loss, deduction or
credit and will instruct each such Certificateholder to report such items on its federal income tax return. The Owner Trustee (or, if the Depositor is the sole Certificateholder, the Administrator) shall prepare or cause to be prepared the returns
and information required by Treasury Regulations Section 1.671-5, as well as any other applicable provisions of law, to be provided and filed, as applicable, in the manner prescribed therein. 

Section 5.5 Signature on Returns; Other Tax Matters. The Owner Trustee shall sign on behalf of the Trust any and all tax returns
of the Trust, unless applicable law requires a 

  
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Certificateholder to sign such documents, in which case such Certificateholder hereby agrees to sign such document and to cooperate fully with the reasonable requests of the Owner Trustee with
respect thereto. 
 ARTICLE VI 

THE OWNER TRUSTEE 

Section 6.1 Duties of Owner Trustee. 

(a) The Owner Trustee undertakes to perform such duties, and only such duties, as are specifically set forth in this Agreement and the other
Basic Documents, including the administration of the Trust in the interest of the Certificateholders, subject to the Basic Documents and in accordance with the provisions of this Agreement. No implied covenants or obligations shall be read into this
Agreement. 
 (b) Notwithstanding the foregoing, the Owner Trustee shall be deemed to have discharged its duties and responsibilities
hereunder and under the other Basic Documents to the extent the Administrator has agreed in the Administration Agreement to perform any act or to discharge any duty of the Trust or the Owner Trustee hereunder or under any other Basic Document, and
the Owner Trustee shall not be liable for the default or failure of the Administrator to carry out its obligations under the Administration Agreement. 

(c) In the absence of bad faith on its part, the Owner Trustee may conclusively rely upon certificates or opinions furnished to the Owner
Trustee and conforming to the requirements of this Agreement in determining the truth of the statements and the correctness of the opinions contained therein; provided, however, that the Owner Trustee shall have examined such
certificates or opinions so as to determine compliance of the same with the requirements of this Agreement. 
 (d) The Owner Trustee may not
be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 

(i) this Section 6.1(d) shall not limit the effect of Section 6.1(a) or
6.1(b); 
 (ii) the Owner Trustee shall not be liable for any error of judgment made in good faith by a Responsible
Officer unless it is proved that the Owner Trustee was negligent in ascertaining the pertinent facts; and 
 (iii) the Owner
Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 4.1, Section 4.2 or
Section 6.4. 
 (e) Subject to Sections 5.1 and 5.2, monies received by the Owner Trustee hereunder
need not be segregated in any manner except to the extent required by law or the Servicing Agreement and may be deposited under such general conditions as may be prescribed by law, and the Owner Trustee shall not be liable for any interest thereon.

  
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 (f) The Owner Trustee shall not take any action that (i) is inconsistent with the
purposes of the Trust set forth in Section 2.3 or (ii) would, to the actual knowledge of a Responsible Officer of the Owner Trustee, cause the Trust to fail to qualify as a grantor trust for United States federal
income tax purposes. The Certificateholders shall not direct the Owner Trustee to take any action or themselves take any action that would violate the provisions of this Section 6.1. 

Section 6.2 Rights of Owner Trustee. The Owner Trustee is authorized and directed to execute and deliver the Basic Documents and
each certificate or other document attached as an exhibit to or contemplated by the Basic Documents to which the Trust is to be a party, in such form as the Depositor shall approve as evidenced conclusively by the Owner Trustee’s execution
thereof. In addition to the foregoing, the Owner Trustee is authorized, but shall not be obligated, to take all actions required of the Trust pursuant to the Basic Documents. The Owner Trustee is further authorized from time to time to take such
action as the Administrator recommends and directs in writing with respect to the Basic Documents. 
 Section 6.3 Acceptance of
Trusts and Duties. Except as otherwise provided in this Article VI, in accepting the trusts hereby created, BNY Mellon Trust of Delaware acts solely as Owner Trustee hereunder and not in its individual capacity and all Persons having any
claim against the Owner Trustee by reason of the transactions contemplated by this Agreement or any other Basic Document shall look only to the Owner Trust Estate for payment or satisfaction thereof. The Owner Trustee accepts the trusts hereby
created and agrees to perform its duties hereunder with respect to such trusts but only upon the terms of this Agreement. The Owner Trustee also agrees to disburse all monies actually received by it constituting part of the Owner Trust Estate upon
the terms of the Basic Documents. The Owner Trustee shall not be liable or accountable hereunder or under any other Basic Document under any circumstances, except for its own negligent action, its own negligent failure to act or its own willful
misconduct or in the case of the inaccuracy of any representation or warranty contained in Section 6.6 and expressly made by the Owner Trustee. In particular, but not by way of limitation (and subject to the exceptions set
forth in the preceding sentence): 
 (a) the Owner Trustee shall at no time have any responsibility or liability for, or with respect to, the
legality, validity and enforceability of any Receivable, or the perfection and priority of any security interest created by any Receivable in any Financed Vehicle or the maintenance of any such perfection and priority, or for, or with respect to,
the sufficiency of the Owner Trust Estate or its ability to generate the payments to be distributed to Certificateholders under this Agreement or to Noteholders under the Indenture, including: the existence, condition and ownership of any Financed
Vehicle; the existence and enforceability of any insurance thereon; the existence and contents of any Receivable on any computer or other record thereof; the validity of the assignment of any Receivable to the Trust or of any intervening assignment;
the completeness of any Receivable; the performance or enforcement of any Receivable; the compliance by the Depositor or the Servicer with any warranty or representation made under any Basic Document or in any related document or the accuracy of any
such warranty or representation or any action of the Administrator, the Indenture Trustee or the Servicer or any sub-servicer taken in the name of the Owner Trustee; 

  
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 (b) the Owner Trustee shall not be liable with respect to any action taken or omitted to be
taken by it in accordance with the instructions of the Administrator or any Certificateholder; 
 (c) no provision of this Agreement or any
other Basic Document shall require the Owner Trustee to expend or risk funds or otherwise incur any financial liability in the performance of any of its rights or powers hereunder or under any other Basic Document, if the Owner Trustee shall have
reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured or provided to it; 

(d) under no circumstances shall the Owner Trustee be liable for indebtedness evidenced by or arising under any of the Basic Documents,
including the principal of and interest on the Notes; 
 (e) the Owner Trustee shall not be responsible for or in respect of and makes no
representation as to the validity or sufficiency of any provision of this Agreement other than as explicitly set forth herein or for the due execution hereof by the Depositor or for the form, character, genuineness, sufficiency, value or validity of
any of the Owner Trust Estate or for, or in respect of, the validity or sufficiency of the Notes, the Certificates (other than the certificate of authentication on the Certificates), the other Basic Documents, any Receivables or any related
documents, and the Owner Trustee shall in no event assume or incur any liability, duty or obligation to any Noteholder or to any Certificateholder, other than as expressly provided for herein and in the other Basic Documents; 

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

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

(h) notwithstanding anything to the contrary contained herein or in any other Basic Document, and notwithstanding any Person’s right to
instruct the Owner Trustee, neither the Owner Trustee nor any agent, employee, director or officer of the Owner Trustee shall have any obligation to execute, deliver or certify on behalf of the Trust or any other Person any filings, certificates,
affidavits or other instruments required pursuant to the Sarbanes-Oxley Act 

  
 23 

 
of 2002 or the rules and regulations promulgated pursuant thereto, and the refusal to comply with any such instructions shall not constitute a default or breach under any Basic Document. In the
event that the Owner Trustee, on behalf of the Trust, does not execute, deliver or certify any filings, certificates, affidavits or other instruments required under the Sarbanes-Oxley Act of 2002, an Authorized Officer of the Administrator shall, on
behalf of the Trust, execute, deliver or make such certification; 
 (i) the Owner Trustee shall not be personally liable for special,
indirect, consequential or punitive damages, however styled, including lost profits; 
 (j) the Owner Trustee shall have no responsibility to
monitor or cause the Trust to comply with Regulation RR; and 
 (k) the Owner Trustee shall not be deemed to have notice of any Default or
Event of Default unless a Responsible Officer of the Owner Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Owner Trustee at the Corporate Trust Office of the Owner
Trustee, and such notice references the Certificates or this Trust Agreement. 
 Section 6.4 Action upon Instruction by
Certificateholders. 
 (a) Subject to Section 4.4, the Certificateholders may by written instruction direct the
Owner Trustee in the management of the Trust. Such direction may be exercised at any time by written instruction of the Certificateholders pursuant to Section 4.5. 

(b) Notwithstanding the foregoing, the Owner Trustee shall not be required to take any action hereunder or under any other Basic Document if
the Owner Trustee shall have reasonably determined, or shall have been advised by counsel, that such action is likely to result in liability on the part of the Owner Trustee or is contrary to the terms hereof or of any other Basic Document or is
otherwise contrary to law. 
 (c) Whenever the Owner Trustee is unable to decide between alternative courses of action permitted or required
by the terms of this Agreement or any other Basic Document, or is unsure as to the application, intent, interpretation or meaning of any provision of this Agreement or the other Basic Documents, the Owner Trustee shall promptly give notice (in such
form as shall be appropriate under the circumstances) to the Certificateholders requesting instruction as to the course of action to be adopted, and, to the extent the Owner Trustee acts in good faith in accordance with any such instruction
received, the Owner Trustee shall not be liable on account of such action to any Person. If the Owner Trustee shall not have received appropriate instructions within ten (10) days of such notice (or within such shorter period of time as
reasonably may be specified in such notice or may be necessary under the circumstances) it may, but shall be under no duty to, take or refrain from taking such action which is consistent, in its view, with this Agreement or the other Basic
Documents, and as it shall deem to be in the best interests of the Certificateholders, and the Owner Trustee shall have no liability to any Person for any such action or inaction. 

Section 6.5 Furnishing of Documents. The Owner Trustee shall furnish to the Certificateholders, promptly upon receipt of a written
request therefor, duplicates or copies of all 

  
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reports, notices, requests, demands, certificates, financial statements and any other instruments furnished to the Owner Trustee under the Basic Documents. 

Section 6.6 Representations and Warranties of Owner Trustee. The Owner Trustee hereby represents and warrants to the Depositor,
for the benefit of the Certificateholders, that: 
 (a) It is a banking corporation duly organized, validly existing and in good standing
under the laws of the State of its incorporation. It has satisfied the eligibility requirements set forth in Section 6.13. 

(b) It has full power, authority and legal right to execute, deliver and perform this Agreement, and has taken all necessary action to
authorize the execution, delivery and performance by it of this Agreement. 
 (c) The execution, delivery and performance by it of this
Agreement (i) shall not violate any provision of any law or regulation governing the banking and trust powers of the Owner Trustee or any order, writ, judgment or decree of any court, arbitrator or governmental authority applicable to the Owner
Trustee or any of its assets, (ii) shall not violate any provision of the corporate charter or by-laws of the Owner Trustee or (iii) shall not violate any provision of, or constitute, with or without
notice or lapse of time, a default under, or result in the creation or imposition of any lien on any properties included in the Trust pursuant to the provisions of any mortgage, indenture, contract, agreement or other undertaking to which it is a
party, which violation, default or lien could reasonably be expected to have a materially adverse effect on the Owner Trustee’s performance or ability to perform its duties as Owner Trustee under this Agreement or on the transactions
contemplated in this Agreement. 
 (d) This Agreement has been duly executed and delivered by the Owner Trustee and constitutes the legal,
valid and binding agreement of the Owner Trustee, enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, or other similar laws affecting the enforcement of creditors’ rights
in general and by general principles of equity, regardless of whether such enforceability is considered in a proceeding in equity or at law. 

Section 6.7 Reliance; Advice of Counsel. 

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

  
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 (b) In the exercise or administration of the trusts hereunder and in the performance of its
duties and obligations under this Agreement or the other Basic Documents, the Owner Trustee may act directly or through its agents, attorneys, custodians or nominees (including The Bank of New York Mellon Trust Company, N.A. who will perform
administrative duties on behalf of BNY Mellon Trust of Delaware as Owner Trustee) pursuant to agreements entered into with any of them, and the Owner Trustee shall not be liable for the conduct or misconduct of such agents, attorneys, custodians or
nominees if such agents, attorneys, custodians or nominees shall have been selected by the Owner Trustee with reasonable care; and may consult with counsel, accountants and other skilled professionals to be selected with reasonable care and employed
by it. The Owner Trustee shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the opinion or advice of any such counsel, accountants or other such Persons and not contrary to this Agreement or any other
Basic Document. 
 Section 6.8 Owner Trustee May Own Certificates and Notes. BNY Mellon Trust of Delaware or any successor Owner
Trustee in its individual or any other capacity may become the owner or pledgee of Certificates or Notes and may deal with the Depositor, the Administrator, the Indenture Trustee and the Servicer in transactions in the same manner as it would have
if it were not the Owner Trustee. 
 Section 6.9 Compensation and Indemnity. The Owner Trustee shall receive as compensation for
its services hereunder such fees as have been separately agreed upon before the date hereof between the Servicer and the Owner Trustee, and the Owner Trustee, any paying agent, registrar, authenticating agent or
co-trustee shall be entitled to be reimbursed by the Servicer for its other reasonable expenses hereunder, including the reasonable compensation, expenses and disbursements of such agents, custodians,
nominees, representatives, experts and external counsel as the Owner Trustee may employ in connection with the exercise and performance of its rights and its duties hereunder. The Servicer shall indemnify the Owner Trustee, any paying agent,
registrar, authenticating agent or co-trustee and its successors, assigns, agents and servants in accordance with the provisions of Section 6.01 of the Servicing Agreement. The indemnities contained in
this Section 6.9 shall survive the resignation or removal of the Owner Trustee or the termination of this Agreement. Any amounts paid to the Owner Trustee pursuant to this Article VI shall be deemed not to be a part
of the Owner Trust Estate immediately after such payment. 
 Section 6.10 Replacement of Owner Trustee. 

(a) The Owner Trustee may give notice of its intent to resign and be discharged from the trusts hereby created by giving notice thereof to the
Administrator provided that no such resignation shall become effective, and the Owner Trustee shall not resign, prior to the time set forth in Section 6.10(c). If no successor Owner Trustee shall have been appointed
pursuant to Section 6.10(b) and have accepted such appointment within thirty (30) days after the giving of such notice, the Owner Trustee giving such notice may petition any court of competent jurisdiction for the
appointment of a successor Owner Trustee. The Administrator shall remove the Owner Trustee if: 

  
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 (i) the Owner Trustee shall cease to be eligible in accordance with the
provisions of Section 6.13 and shall fail to resign after written request therefor by the Administrator; 

(ii) the Owner Trustee shall be adjudged bankrupt or insolvent; 

(iii) a receiver or other public officer shall be appointed or take charge or control of the Owner Trustee or of its property
or affairs for the purpose of rehabilitation, conservation or liquidation; or 
 (iv) the Owner Trustee shall otherwise be
incapable of acting. 
 (b) If the Owner Trustee gives notice of its intent to resign or is removed or if a vacancy exists in the office of
Owner Trustee for any reason, the Administrator shall promptly appoint a successor Owner Trustee by written instrument, in duplicate (one copy of which instrument shall be delivered to the outgoing Owner Trustee so removed and one copy to the
successor Owner Trustee) and shall pay all fees owed to the outgoing Owner Trustee. 
 (c) Any resignation or removal of the Owner Trustee
and appointment of a successor Owner Trustee pursuant to any of the provisions of this Section 6.10 shall not become effective, and no such resignation shall be deemed to have occurred, until a written acceptance of
appointment is delivered by the successor Owner Trustee to the outgoing Owner Trustee and the Administrator and all fees and expenses due to the outgoing Owner Trustee are paid. Costs associated with the resignation of the Owner Trustee and the
appointment of a successor Owner Trustee will be borne by the Servicer. Any successor Owner Trustee appointed pursuant to this Section 6.10 shall be eligible to act in such capacity in accordance with
Section 6.13 and, following compliance with the preceding sentence, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally
named as Owner Trustee. The Administrator shall provide notice of such resignation or removal of the Owner Trustee to each of the Rating Agencies. 

(d) The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and
statements and monies held by it under this Agreement. The Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and
confirming in the successor Owner Trustee all such rights, powers, duties and obligations. 
 (e) Upon acceptance of appointment by a
successor Owner Trustee pursuant to this Section 6.10, the Administrator shall mail notice of the successor of such Owner Trustee to all Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies.

 Section 6.11 Merger or Consolidation of Owner Trustee. Any Person into which the Owner Trustee may be merged or converted or
with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any Person succeeding to all or substantially all of the corporate trust business of the Owner
Trustee, shall be the successor of the Owner Trustee hereunder, provided such Person shall be eligible pursuant to Section 6.13, and without the execution or filing of any instrument

  
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or any further act on the part of any of the parties hereto; provided, however, that the Owner Trustee shall mail notice of such merger or consolidation to the Depositor, who
promptly shall notify the Rating Agencies. 
 Section 6.12 Appointment of Co-Trustee or
Separate Trustee. 
 (a) Notwithstanding any other provisions of this Agreement, at any time, for the purpose of meeting any legal
requirement of any jurisdiction in which any part of the Owner Trust Estate or any Financed Vehicle may at the time be located, the Administrator and the Owner Trustee acting jointly shall, at the expense of the Servicer, have the power and shall,
at the expense of the Servicer, execute and deliver all instruments to appoint one or more Persons approved by the Owner Trustee to act as co-trustee, jointly with the Owner Trustee, or as separate trustee or
trustees, of all or any part of the Owner Trust Estate, and to vest in such Person (in the name of the Trust and not in such Person’s name for the Trust, except to the extent otherwise required by, and in accordance with,
Section 2.8), in such capacity, such title to the Trust, or any part thereof, and, subject to the other provisions of this Section 6.12, such powers, duties, obligations, rights and trusts as the
Administrator and the Owner Trustee may consider necessary or desirable. If the Administrator shall not have joined in such appointment within fifteen (15) days after the receipt by it of a request so to do, the Owner Trustee alone shall have
the power to make such appointment. No co-trustee or separate trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee pursuant to
Section 6.13 and no notice of the appointment of any co-trustee or separate trustee shall be required pursuant to Section 6.10. 

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

(ii) no trustee under this Agreement shall be personally liable by reason of any act or omission of any other trustee under
this Agreement; and 
 (iii) the Administrator and the Owner Trustee acting jointly may at any time accept the resignation of
or remove any separate trustee or co-trustee. 
 (c) Any notice, request or other writing given to
the Owner Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall 

  
 28 

 
refer to this Agreement and the conditions of this Article. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be
vested with the estates or property specified in its instrument of appointment, either jointly with the Owner Trustee or separately, as may be provided therein, subject to all the provisions of this Agreement, specifically including every provision
of this Agreement relating to the conduct of, affecting the liability of, or affording protection to, the Owner Trustee. Each such instrument shall be filed with the Owner Trustee and a copy thereof given to the Administrator. 

(d) Any separate trustee or co-trustee may at any time appoint the Owner Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name.
If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall vest in and be exercised by the Owner
Trustee, to the extent permitted by law, without the appointment of a new or successor trustee. 
 Section 6.13 Eligibility
Requirements for Owner Trustee. The Owner Trustee shall at all times satisfy the requirement of Section 26(a)(1) of the Investment Company Act. The Owner Trustee shall at all times: (a) be a corporation satisfying the provisions of
Section 3807(a) of the Statutory Trust Act; (b) be authorized to exercise corporate trust powers; (c) have a combined capital and surplus of at least $50,000,000 and be subject to supervision or examination by federal or State
authorities; and (d) have (or have a parent which has) a long-term unsecured debt rating of at least BBB- by, or such other rating as is acceptable to, Fitch Ratings, Inc., if rated by Fitch Ratings,
Inc., and at least Baa3 by, or such other rating as is acceptable to, Moody’s Investors Service, Inc. If such corporation shall publish reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising
or examining authority, then for the purpose of this Section 6.13, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of
condition so published. If at any time the Owner Trustee shall cease to be eligible in accordance with the provisions of this Section 6.13, the Owner Trustee shall resign immediately in the manner and with the effect
specified in Section 6.10. 
 Section 6.14 Compliance with the FDIC Rule. The Owner Trustee
acknowledges Section 12.1(a) of the Indenture and agrees to (i) perform the covenants set forth in Sections 12.5(b) and (g) and Section 12.6(c) of the Indenture applicable to it and (ii) use reasonable efforts to comply with
any request of the Depositor or the Servicer to facilitate compliance with Article XII of the Indenture by the Ally Parties. 

Section 6.15 Notice of Events of Default. The Owner Trustee shall promptly give notice to each Certificateholder of any default or
Event of Default of which it has been provided written notice pursuant to Section 6.5 of the Indenture. 

  
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 ARTICLE VII 

TERMINATION OF TRUST AGREEMENT 

Section 7.1 Termination of Trust Agreement. 

(a) The Trust shall dissolve in accordance with Section 3808 of the Statutory Trust Act immediately prior to the final distribution by the
Owner Trustee of all monies or other property or proceeds of the Owner Trust Estate in accordance with the terms of the Indenture, the Servicing Agreement (including the exercise by the Servicer of its option to purchase the Receivables pursuant to
Section 8.01(a) of the Servicing Agreement) and Article V. The bankruptcy, liquidation, dissolution, death or incapacity of any Certificateholder shall not (x) operate to terminate this Agreement or the Trust, (y) entitle such
Certificateholder’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of all or any part of the Trust or the Owner Trust Estate or (z) otherwise affect the
rights, obligations and liabilities of the parties hereto. 
 (b) Neither the Depositor nor any Certificateholder shall be entitled to revoke
or terminate the Trust or this Agreement. 
 (c) Subject to Section 5.2(a), notice of any dissolution of the Trust,
specifying the Distribution Date upon which the Certificateholders shall surrender their Certificates to the Paying Agent for payment of the final distribution and cancellation, shall be given by the Owner Trustee by letter to Certificateholders
mailed within five (5) Business Days of receipt of notice of such termination from the Servicer given pursuant to Section 8.01(c) of the Servicing Agreement, stating: (i) the Distribution Date upon or with respect to which final
payment of the Certificates shall be made upon presentation and surrender of the Certificates at the office of the Paying Agent therein designated; (ii) the amount of any such final payment; and (iii) that the Record Date otherwise
applicable to such Distribution Date is not applicable, payments being made only upon presentation and surrender of the Certificates at the office of the Paying Agent therein specified. The Owner Trustee shall give such notice to the Certificate
Registrar (if other than the Owner Trustee) and the Paying Agent at the time such notice is given to Certificateholders. Upon presentation and surrender of the Certificates, the Paying Agent shall cause to be distributed to Certificateholders
amounts distributable on such Distribution Date pursuant to Section 5.2. 
 (d) If all of the Certificateholders
shall not surrender their Certificates for cancellation within six (6) months after the date specified in the written notice referred to in Section 7.1(c), the Owner Trustee shall give a second written notice to the
remaining Certificateholders to surrender their Certificates for cancellation and receive the final distribution with respect thereto. If within one (1) year after the second notice all the Certificates shall not have been surrendered for
cancellation, the Owner Trustee may take appropriate steps, or may appoint an agent to take appropriate steps, to contact the remaining Certificateholders concerning surrender of their Certificates, and the cost thereof shall be paid out of the
funds and other assets that shall remain subject to this Agreement. Subject to applicable laws with respect to escheat of funds, any funds remaining in the Trust after exhaustion of such remedies in the preceding sentence shall be deemed property of
the last Certificateholders of record and distributed by the 

  
 30 

 
Owner Trustee to the last Certificateholders of record, and the Owner Trustee shall have no further liability to the Certificateholders with respect thereto. 

(e) Upon the winding up and termination of the Trust in accordance with Section 3808 of the Statutory Trust Act and this
Section 7.1 at the written direction and expense of the Certificateholders, the Owner Trustee shall cause the Certificate of Trust to be canceled by filing a certificate of cancellation with the Secretary of State in
accordance with the provisions of Section 3810 of the Statutory Trust Act. Thereupon, this Agreement (other than Sections 6.9, 9.8 and 9.9) and the Trust shall terminate. 

ARTICLE VIII 

AMENDMENTS 

Section 8.1 Amendments Without Consent of Certificateholders or Noteholders. This Agreement may be amended by the Depositor and
the Owner Trustee without the consent of any of the Noteholders or any other Persons who may be Certificateholders (but with prior notice to each of the Rating Agencies from the Depositor), to (i) cure any ambiguity, (ii) correct or
supplement any provision in this Agreement that may be defective or inconsistent with any other provision in this Agreement or any other Basic Document, (iii) add or supplement any credit enhancement for the benefit of the Noteholders of any
class or the Certificateholders (provided that if any such addition shall affect any class of Noteholders differently from any other class of Noteholders, then such addition shall not, as evidenced by an Opinion of Counsel, adversely affect in any
material respect the interests of any class of Noteholders), provided that in the case of this clause (iii), the consent of the Certificateholders shall be required, (iv) add to the covenants, restrictions or obligations of the
Depositor or the Owner Trustee, (v) evidence and provide for the acceptance of the appointment of a successor trustee with respect to the Owner Trust Estate and add to or change any provisions as shall be necessary to facilitate the
administration of the trusts hereunder by more than one trustee pursuant to Article VI and (vi) add, change or eliminate any other provision of this Agreement in any manner that shall not, as evidenced by an Opinion of Counsel, adversely
affect in any material respect the interests of the Noteholders or Unaffiliated Certificateholders. Notwithstanding anything to the contrary herein, an Opinion of Counsel shall be delivered to the effect that such amendment would not cause the Trust
to fail to qualify as a grantor trust for United States federal income tax purposes. 
 Section 8.2 Amendments With Consent of
Certificateholders and Noteholders. This Agreement may be amended from time to time by the Depositor and the Owner Trustee with the consent of Noteholders whose Notes evidence not less than a majority of the Outstanding Amount of the Controlling
Class as of the close of the preceding Distribution Date and, if any Person other than the Depositor or an Affiliate of the Depositor holds any Certificates, the consent of the Majority Certificateholders as of the close of the preceding
Distribution Date (which consent, whether given pursuant to this Section 8.2 or pursuant to any other provision of this Agreement, shall be conclusive and binding on such Person and on all future holders of such Notes or
Certificates and of any Notes or Certificates issued upon the transfer thereof or in exchange thereof or in lieu thereof whether or not notation of such consent is made upon any Notes or Certificates) for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of this Agreement, or of modifying in any manner the rights of 

  
 31 

 
the Noteholders or the Certificateholders; provided, however, that no such amendment shall (a) without the consent of the holder of the affected Note or Certificate, as
applicable, increase or reduce the interest rate or principal amount of any Note or change any Distribution Date or the Final Scheduled Distribution Date of any Note or distributions on the Certificates (without the consent of the holders hereof),
(b) increase or reduce the amount of the required Specified Reserve Account Balance without the consent of all of the Noteholders or Certificateholders then outstanding, (c) adversely affect the rating of any Securities by any of the Rating
Agencies without the consent of the holders of two-thirds of the Outstanding Amount of an affected class of Notes or two-thirds of the Voting Interests of affected
Certificates, as appropriate, each as of the close of the preceding Distribution Date or (d) reduce the aforesaid percentage required to consent to any such amendment, without the consent of the holders of all Notes and Certificates then
outstanding. The Depositor shall furnish notice to each of the Rating Agencies prior to obtaining consent to any proposed amendment under this Section 8.2. Notwithstanding anything to the contrary herein, an Opinion of
Counsel shall be delivered to the effect that such amendment would not cause the Trust to fail to qualify as a grantor trust for United States federal income tax purposes. 

Section 8.3 Form of Amendments. 

(a) Promptly after the execution of any amendment, supplement or consent pursuant to Section 8.1 or
Section 8.2, the Owner Trustee shall furnish written notification of the substance of such amendment or consent to each Unaffiliated Certificateholder and the Indenture Trustee. 

(b) It shall not be necessary for the consent of Certificateholders, the Noteholders or the Owner Trustee pursuant to
Section 8.2 to approve the particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining such consents (and any other consents
of Unaffiliated Certificateholders provided for in this Agreement or in any other Basic Document) and of evidencing the authorization of the execution thereof by Unaffiliated Certificateholders shall be subject to such reasonable requirements as the
Owner Trustee may prescribe. 
 (c) Promptly after the execution of any amendment to the Certificate of Trust, the Owner Trustee shall cause
the filing of such amendment with the Secretary of State. 
 (d) Prior to the execution of any amendment to this Agreement or the Certificate
of Trust, the Owner Trustee shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement. The Owner Trustee may, but shall not be obligated
to, enter into any such amendment which affects the Owner Trustee’s own rights, duties or immunities under this Agreement or otherwise. 

  
 32 

 ARTICLE IX 

MISCELLANEOUS 

Section 9.1 No Legal Title to Owner Trust Estate. The Certificateholders shall not have legal title to any part of the Owner Trust
Estate. The Certificateholders shall be entitled to receive distributions with respect to their undivided Percentage Interest therein only in accordance with Articles V and VII. No transfer, by operation of law or otherwise, of any
right, title, and interest of the Certificateholders to and in their Percentage Interest in the Owner Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it
of legal title to any part of the Owner Trust Estate. 
 Section 9.2 Limitations on Rights of Others. Except for
Section 9.12, the provisions of this Agreement are solely for the benefit of the Owner Trustee, the Depositor, the Certificateholders, the Administrator and, to the extent expressly provided herein, the Indenture Trustee
and the Noteholders, and nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in the Owner Trust Estate or under or in respect of this Agreement or any
covenants, conditions or provisions contained herein. 
 Section 9.3 Derivative Actions. Any provision contained herein to the
contrary notwithstanding, the right of any Certificateholder or Certificate Owner to bring a derivative action in the right of the Trust is hereby made expressly subject to the following limitations and requirements: 

(a) such Certificateholder or Certificate Owner must meet all requirements set forth in the Statutory Trust Act; and 

(b) no Certificateholder or Certificate Owner may bring a derivative action in the right of the Trust without the prior written consent of the
Majority Certificateholders. 
 Section 9.4 Notices. All demands, notices and communications upon or to the Depositor, the
Servicer, the Administrator, the Indenture Trustee, the Owner Trustee or the Rating Agencies under this Agreement shall be delivered as specified in Appendix B to the Servicing Agreement. 

Section 9.5 Severability. If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any
reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Agreement and shall in no way affect the validity or enforceability
of the other provisions of this Agreement or of the Certificates or the rights of the Holders thereof. 
 Section 9.6
Counterparts. This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute one and the same instrument.

  
 33 

 Section 9.7 Successors and Assigns. 

(a) All covenants and agreements contained herein shall be binding upon, and inure to the benefit of, the Depositor, the Owner Trustee and each
Certificateholder and their respective successors and permitted assigns, all as herein provided. Any request, notice, direction, consent, waiver or other instrument or action by a Certificateholder shall bind the successors and assigns of such
Certificateholder. 
 (b) Notwithstanding anything to the contrary contained in this Agreement, this Trust Agreement may be assigned by the
Depositor without the consent of any other Person, but with notice to the Rating Agencies to a corporation, limited liability company or other entity that is a successor (by merger, consolidation or purchase of assets) to the Depositor, or 25% or
more of the voting interests of which is owned, directly or indirectly, by General Motors or by Ally Financial, provided that such entity executes an agreement of assumption, as provided in Section 3.03(a) of the Trust Sale Agreement.

 Section 9.8 No Petition. The Owner Trustee by entering into this Trust Agreement and each Certificateholder or Certificate
Owner, by accepting a Certificate (or interest therein) issued hereunder, hereby covenant and agree that they shall not (nor shall they join with or solicit another person to), prior to the day that is one year and one day after the termination of
the Trust and of each other trust heretofore formed by the Depositor, acquiesce, petition or otherwise invoke or cause the Depositor or the Trust to invoke in any court or government authority for the purpose of commencing or sustaining a case
against the Depositor or the Trust 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 Depositor or the Trust or any
substantial part of its property, or ordering the winding up or liquidation of the affairs of the Depositor or the Trust under a federal or State bankruptcy or insolvency proceeding. 

Section 9.9 No Recourse. Each Certificateholder or Certificate Owner by accepting a Certificate (or any interest therein)
acknowledges that such Person’s Certificate (or interest therein) represents beneficial interests in the Trust only and does not represent interests in or obligations of the Depositor, the Servicer, the Administrator, the Owner Trustee, the
Indenture Trustee or any Affiliate thereof and no recourse, either directly or indirectly, may be had against such parties or their assets, except as may be expressly set forth or contemplated in this Agreement, the Certificates or the other Basic
Documents. Except as expressly provided in the Basic Documents, none of the Depositor, the Servicer or the Owner Trustee in their respective individual capacities, or any of their respective partners, beneficiaries, agents, officers, directors,
employees or successors or assigns, shall be personally liable for, nor shall recourse be had to any of them for, the distribution of any amount with respect to the Certificates or the Trust’s performance of, or omission to perform, any
obligations or indemnifications contained in the Certificates, this Agreement or the other Basic Documents, it being expressly understood that such Certificateholder obligations have been made solely by the Trust. Each Certificateholder by the
acceptance of a Certificate (or beneficial interest therein) agrees that except as expressly provided in the Basic Documents, in the event of nonpayment of any amounts with respect to the Certificates, it shall have no claim against any of the
foregoing Persons for any deficiency, loss or claim therefrom. In the event that any of the foregoing covenants of each Certificateholder and Certificate Owner is prohibited by, or declared illegal or otherwise unenforceable against any

  
 34 

 
such Certificateholder or Certificate Owner under applicable law by any court or other authority of competent jurisdiction, and, as a result, a Certificateholder or Certificate Owner is deemed to
have an interest in any assets of the Depositor or any Affiliate of the Depositor other than the Trust, each Certificateholder and Certificate Owner agrees that (i) its claim against any such other assets shall be, and hereby is, subject and
subordinate in all respects to the rights of other Persons to whom rights in the other assets have been expressly granted, including to the payment in full of all amounts owing to such entitled Persons, and (ii) the covenant set forth in the
preceding clause (i) constitutes a “subordination agreement” within the meaning of, and subject to, Section 510(a) of the Bankruptcy Code. 

Section 9.10 Headings. The headings of the various Articles and Sections herein are for convenience of reference only and shall
not define or limit any of the terms or provisions hereof. 
 Section 9.11 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS THEREOF OR OF ANY OTHER JURISDICTION, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE
DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 Section 9.12 Indemnification by and Reimbursement of the Servicer. The
Owner Trustee acknowledges and agrees to reimburse (i) the Servicer and its directors, officers, employees and agents in accordance with Section 6.03(b) of the Servicing Agreement and (ii) the Depositor and its directors, officers,
employees and agents in accordance with Section 3.04 of the Trust Sale Agreement. The Owner Trustee further acknowledges and accepts the conditions and limitations with respect to the Servicer’s obligation to indemnify, defend and hold the
Owner Trustee harmless as set forth in Section 6.01(a)(iv) of the Servicing Agreement. 
 Section 9.13 Effect of Amendment and
Restatement. It is the intent of the parties hereto that this Trust Agreement shall, as of February 13, 2019, replace in its entirety the Original Trust Agreement; provided, however, that with respect to the period of time
from July 17, 2018 through February 13, 2019, the rights and obligations of the parties shall be governed by the Original Trust Agreement; and provided further, that the amendment and restatement of the Original Trust
Agreement shall not affect any of the grants, conveyances or transfers contemplated by the Original Trust Agreement to have occurred prior to the date hereof. 

Section 9.14 Information to be Provided by the Owner Trustee. 

(a) The Owner Trustee agrees to cooperate in good faith with any reasonable request by the Depositor for information regarding the Owner
Trustee which is required in order to enable the Depositor to comply with the provisions of Items 1104(e), 1117, 1119 and 1121(c) of Regulation AB and Rule 15Ga-1 under the Exchange Act as it relates to the
Owner Trustee or to the Owner Trustee’s obligations under this Agreement; provided that with respect to Rule 15Ga-1, and Items 1104(e) and 1121(c), the Owner Trustee shall not be deemed a
“securitizer” under Regulation AB or under the Exchange Act. 

  
 35 

 (b) Except to the extent disclosed by the Owner Trustee in subsection (c) or (d) below,
the Owner Trustee shall be deemed to have represented to the Depositor on the first day of each Monthly Period with respect to the prior Monthly Period that to the best of its knowledge there were no legal or governmental proceedings pending (or
known to be contemplated) against BNY Mellon Trust of Delaware or any property of BNY Mellon Trust of Delaware that would be material to any Noteholder or, to the extent that the Certificates are registered under the Securities Act for public sale,
any holder of such Certificates. 
 (c) The Owner Trustee shall, as promptly as practicable following notice to or discovery by the Owner
Trustee of any changes to any information regarding the Owner Trustee as is required for the purpose of compliance with Item 1117 of Regulation AB, provide to the Depositor, in writing, such updated information. 

(d) The Owner Trustee shall deliver to the Depositor on or before March 15 (or, if such date is not a Business Day, the next succeeding
Business Day) of each year, beginning with March 15, 2020, a report of a representative of the Owner Trustee with respect to the immediately preceding calendar year certifying, on behalf of the Owner Trustee, that except to the extent otherwise
disclosed in writing to Depositor, to the best of his or her knowledge there were no legal or governmental proceedings pending (or known to be contemplated) against BNY Mellon Trust of Delaware or any property of BNY Mellon Trust of Delaware that
would be material to any Noteholder or, to the extent that the Certificates are registered under the Securities Act for public sale, any holder of such Certificates. 

(e) The Owner Trustee shall deliver to the Depositor on or before March 15 (or, if such date is not a Business Day, the next succeeding
Business Day) of each year, beginning with March 15, 2020, a report of a representative of the Owner Trustee with respect to the immediately preceding calendar year providing to the Depositor such information regarding the Owner Trustee as is
required for the purpose of compliance with Item 1119 of Regulation AB. Such information shall include, at a minimum, a description of any affiliation between the Owner Trustee and any of the following parties to this securitization transaction, as
such parties are identified to the Owner Trustee by the Depositor in writing in advance of this securitization transaction: 
  

	 	(i)	 the Depositor; 

  

	 	(ii)	 Ally Bank, as sponsor; 

 

	 	(iii)	 the Trust; 

  

	 	(iv)	 the Servicer; 

  

	 	(v)	 the Asset Representations Reviewer; 

 

	 	(vi)	 the Indenture Trustee; and 

 

	 	(vii)	 any other material transaction party. 

  
 36 

 (f) In connection with the parties listed in clauses (i) through (vii)
above, the Owner Trustee shall include a description of whether there is, and if so, the general character of, any business relationship, agreement, arrangement, transaction or understanding that is entered into outside the ordinary course of
business or is on terms other than would be obtained in an arm’s length transaction with an unrelated third party, apart from this securitization transaction, that currently exists or that existed during the past two years and that is material
to an investor’s understanding of the asset backed securities issued in this securitization transaction. 
 (g) The Owner Trustee shall
provide the Depositor with notification, as soon as practicable and in any event within five Business Days, of all demands delivered to a Reporting Officer of the Owner Trustee for the repurchase or replacement of any Receivable pursuant to
Section 2.04(a) of the Trust Sale Agreement or Section 2.11 of the Servicing Agreement, as applicable. Subject to this Section 9.14, the Owner Trustee shall have no obligation to take any other action with respect
to any demand. Except as set forth in the Basic Documents, in no event shall the Owner Trustee have (i) any responsibility or liability in connection with any filing to be made by a securitizer under the Exchange Act or Regulation AB or
(ii) any duty or obligation to undertake any investigation or inquiry related to repurchase activity or otherwise to assume any additional duties or responsibilities except as expressly set forth in this Section 9.14.

 Section 9.15 Foreign Certificateholder Voting Restriction. To the extent (x) a Certificateholder is a United States
person (as defined in Section 7701(a)(30) of the Code) (or a Certificate Owner holding its interest through a Certificateholder) and (y) Certificateholders that are not United States persons (as defined in Section 7701(a)(30) of the
Code) (or Certificate Owners to the extent exercising a right to vote through Certificateholders) have 50% or more of the power by vote or otherwise to make a substantial decision regarding the Trust (as described in Treasury Regulation Section 301.7701-7(d)), the Certificateholders that are not United States persons (as defined in Section 7701(a)(30) of the Code) (or Certificate Owners exercising a right to vote through
Certificateholders) shall, in the aggregate, be limited with respect to any such substantial decision to no more than 49% of that overall vote with such 49% voting power apportioned among such Certificateholders (or Certificate Owners) in accordance
with each one’s respective share of the Percentage Interest (and the 51% remaining voting power apportioned among the Certificateholders (or Certificate Owners to the extent exercising a right to vote through Certificateholders) that are United
States persons (as defined in Section 7701(a)(30) of the Code) in accordance with each one’s respective share of the Percentage Interest). For purposes of exercising a vote pursuant to this Section 9.15, the Certificateholder or a
Certificate Owner holding its interest through a Certificateholder shall certify to the Administrator and the Owner Trustee as to whether it is a United States person (as defined in Section 7701(a)(30) of the Code) or a Certificate Owner
holding its interest through a Certificateholder. 
 * * * * * 

  
 37 

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

			
	BNY MELLON TRUST OF DELAWARE,
	as Owner Trustee and as Paying Agent

 
			
		
	By:	 	  

		 	Name:
		 	Title:
	
	ALLY AUTO ASSETS LLC,
	as Depositor

 
			
		
	By:	 	  

		 	Name:
		 	Title:

 EXHIBIT A 

FORM OF [TEMPORARY REGULATION S GLOBAL] [PERMANENT REGULATION S GLOBAL] [RULE 144A GLOBAL] CERTIFICATE 

 

			
	NO. R-	  	
                % PERCENTAGE
INTEREST

 $[            ] 

CUSIP: [                ] 

SEE REVERSE FOR CERTAIN DEFINITIONS 

[NO BENEFICIAL OWNER OF THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE SHALL BE ENTITLED TO RECEIVE DISTRIBUTIONS HEREIN UNLESS SUCH
BENEFICIAL OWNER SHALL HAVE DELIVERED A CERTIFICATION IN THE FORM ATTACHED TO THE TRUST AGREEMENT TO CLEARSTREAM OR EUROCLEAR. 
 THE HOLDER
OF THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER, SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE WITHIN THE UNITED STATES OR TO U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE UNITED STATES SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”)) PRIOR TO THE EXCHANGE DATE EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 

THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT, OR UNDER THE SECURITIES OR
BLUE SKY LAWS OF ANY STATE IN THE UNITED STATES OR ANY FOREIGN SECURITIES LAWS. BY ITS ACCEPTANCE OF THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE (OR INTEREST THEREIN) THE HOLDER OF THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE (OR SUCH INTEREST)
IS DEEMED TO REPRESENT TO THE DEPOSITOR AND THE OWNER TRUSTEE THAT IT IS A NON-U.S. PERSON (AS DEFINED IN REGULATION S) WHO ACQUIRED THE CERTIFICATE OUTSIDE OF THE UNITED STATES IN ACCORDANCE WITH REGULATION
S.] 
 [THIS [PERMANENT REGULATION S GLOBAL] [RULE 144A GLOBAL] CERTIFICATE IS NOT NEGOTIABLE. THIS [PERMANENT REGULATION S GLOBAL] [RULE
144A GLOBAL] CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER THE SECURITIES OR BLUE SKY LAWS OF ANY STATE IN THE UNITED STATES OR ANY
FOREIGN SECURITIES LAWS. BY ITS ACCEPTANCE OF THIS [PERMANENT REGULATION S GLOBAL] [RULE 144A GLOBAL] 

  
 Exhibit A-1 

 
CERTIFICATE (OR INTEREST THEREIN) THE HOLDER OF THIS [PERMANENT REGULATION S GLOBAL] [RULE 144A GLOBAL] CERTIFICATE (OR SUCH INTEREST) IF, OTHER THAN THE DEPOSITOR OR ANY AFFILIATE OF THE
DEPOSITOR, IS DEEMED TO REPRESENT TO THE DEPOSITOR AND THE OWNER TRUSTEE THAT IT IS [A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT AND IS ACQUIRING THIS RULE 144A GLOBAL CERTIFICATE (OR INTEREST
THEREIN) FOR ITS OWN ACCOUNT (AND NOT FOR THE ACCOUNT OF OTHERS) OR AS A FIDUCIARY OR AGENT FOR OTHERS (WHICH OTHERS ALSO ARE QUALIFIED INSTITUTIONAL BUYERS).] [A NON-U.S. PERSON (AS DEFINED IN
REGULATION S) WHO ACQUIRED THIS PERMANENT REGULATION S CERTIFICATE OUTSIDE THE UNITED STATES IN ACCORDANCE WITH REGULATION S]. 
 NO SALE,
PLEDGE OR OTHER TRANSFER OF THIS [TEMPORARY REGULATION S GLOBAL] [PERMANENT REGULATION S GLOBAL] [RULE 144A GLOBAL] CERTIFICATE (OR INTEREST THEREIN) MAY BE MADE BY ANY PERSON UNLESS EITHER (i) [SUCH SALE IS MADE TO THE DEPOSITOR OR ANY AFFILIATE OF
THE DEPOSITOR, (ii)] SUCH SALE, PLEDGE OR OTHER TRANSFER IS MADE TO A PERSON WHOM THE TRANSFEROR REASONABLY BELIEVES [AFTER DUE INQUIRY] IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A), ACTING FOR ITS OWN ACCOUNT (AND NOT
FOR THE ACCOUNT OF OTHERS) OR AS A FIDUCIARY OR AGENT FOR OTHERS (WHICH OTHERS ALSO ARE “QUALIFIED INSTITUTIONAL BUYERS”) TO WHOM NOTICE IS GIVEN THAT THE SALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, [(ii)][(iii)]
SUCH SALE, PLEDGE OR OTHER TRANSFER OCCURS OUTSIDE OF THE UNITED STATES TO A NON-U.S. PERSON IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S OF THE SECURITIES ACT AND THAT PERSON DELIVERS ANY NECESSARY
CERTIFICATIONS PURSUANT TO THE TRUST AGREEMENT, [(iv) THIS TEMPORARY REGULATION S CERTIFICATE IS NO LONGER ELIGIBLE FOR RESALE PURSUANT TO RULE 144A OR REGULATION S,] OR [(iv)][(v)] SUCH SALE, PLEDGE OR OTHER TRANSFER IS OTHERWISE MADE IN A
TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, IN WHICH CASE (A) THE OWNER TRUSTEE SHALL REQUIRE THAT BOTH THE PROSPECTIVE TRANSFEROR AND THE PROSPECTIVE TRANSFEREE CERTIFY TO THE OWNER TRUSTEE AND THE DEPOSITOR IN
WRITING THE FACTS SURROUNDING SUCH TRANSFER, WHICH CERTIFICATION SHALL BE IN FORM AND SUBSTANCE SATISFACTORY TO THE OWNER TRUSTEE AND THE DEPOSITOR, AND (B) THE OWNER TRUSTEE SHALL REQUIRE A WRITTEN OPINION OF COUNSEL (WHICH SHALL NOT BE AT THE
EXPENSE OF THE DEPOSITOR, THE ADMINISTRATOR, THE SERVICER, THE TRUST OR THE OWNER TRUSTEE) SATISFACTORY TO THE 

  
 Exhibit A-2 

 
DEPOSITOR AND THE OWNER TRUSTEE TO THE EFFECT THAT SUCH TRANSFER WILL NOT VIOLATE THE SECURITIES ACT. 

THIS [TEMPORARY REGULATION S GLOBAL] [PERMANENT REGULATION S GLOBAL] [RULE 144A GLOBAL] CERTIFICATE (OR AN INTEREST HEREIN) MAY NOT BE ACQUIRED
BY OR FOR THE ACCOUNT OF (1) AN “EMPLOYEE BENEFIT PLAN,” AS DEFINED IN SECTION 3(3) OF THE UNITED STATES EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), THAT IS SUBJECT TO THE PROVISIONS OF
TITLE I OF ERISA, (2) A “PLAN” SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR (3) ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF INVESTMENT BY AN
EMPLOYEE BENEFIT PLAN OR PLAN IN SUCH ENTITY OTHER THAN AN “INSURANCE COMPANY GENERAL ACCOUNT,” AS DEFINED IN PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 (“PTCE 95-60”), WHOSE UNDERLYING ASSETS INCLUDE LESS THAN 25% PLAN ASSETS FOR THE ENTIRE PERIOD DURING WHICH SUCH PURCHASER HOLDS ITS INTEREST IN THIS CERTIFICATE, WHO IS NOT AND IS NOT AN AFFILIATE OF A PERSON
THAT HAS DISCRETIONARY AUTHORITY OR CONTROL WITH RESPECT TO THE ASSETS OF THE TRUST OR PROVIDES INVESTMENT ADVICE FOR A FEE (DIRECT OR INDIRECT) WITH RESPECT TO THE ASSETS OF THE TRUST, AND FOR WHICH THE PURCHASE AND HOLDING OF CERTIFICATES IS
ELIGIBLE AND SATISFIES ALL CONDITIONS FOR RELIEF UNDER PTCE 95-60. THIS [TEMPORARY REGULATION S GLOBAL] [PERMANENT REGULATION S GLOBAL] [RULE 144A GLOBAL] CERTIFICATE (OR AN INTEREST THEREIN) ALSO MAY NOT BE
ACQUIRED BY OR FOR THE ACCOUNT OF AN EMPLOYEE BENEFIT PLAN OR PLAN THAT IS SUBJECT TO ANY APPLICABLE LAW THAT IS SUBSTANTIALLY SIMILAR TO TITLE I OF ERISA OR SECTION 4975 OF THE CODE. EACH HOLDER OF THIS [TEMPORARY REGULATION S GLOBAL]
[PERMANENT REGULATION S GLOBAL] [RULE 144A GLOBAL] CERTIFICATE, BY ACCEPTING THIS [TEMPORARY REGULATION S GLOBAL] [PERMANENT REGULATION S GLOBAL] [RULE 144A GLOBAL] CERTIFICATE, WILL BE DEEMED TO HAVE REPRESENTED AND WARRANTED THAT IT IS NOT SUBJECT
TO THE FOREGOING LIMITATIONS AND, IF REQUESTED TO DO SO BY THE DEPOSITOR, SUCH PERSON SHALL EXECUTE AND DELIVER TO THE OWNER TRUSTEE AN UNDERTAKING LETTER TO SUCH EFFECT IN THE FORM SPECIFIED IN THE TRUST AGREEMENT. 

THE HOLDER OF THIS [TEMPORARY REGULATION S GLOBAL] [PERMANENT REGULATION S GLOBAL] [RULE 144A GLOBAL] CERTIFICATE ACKNOWLEDGES AND AGREES THAT
ITS RIGHTS TO RECEIVE DISTRIBUTIONS IN RESPECT OF THIS [TEMPORARY REGULATION S GLOBAL] [PERMANENT REGULATION S GLOBAL] 

  
 Exhibit A-3 

 
[RULE 144A GLOBAL] CERTIFICATE ARE SUBORDINATED TO THE RIGHTS OF THE NOTEHOLDERS AS AND TO THE EXTENT DESCRIBED IN THE SERVICING AGREEMENT. 

IT IS THE INTENT OF THE DEPOSITOR, THE OWNER TRUSTEE AND THE CERTIFICATEHOLDERS THAT, FOR UNITED STATES FEDERAL INCOME TAX PURPOSES, THE TRUST
SHALL BE TREATED AS A GRANTOR TRUST. EXCEPT AS OTHERWISE REQUIRED BY APPROPRIATE TAXING AUTHORITIES, THE DEPOSITOR AND THE OTHER CERTIFICATEHOLDERS BY ACCEPTANCE OF A [TEMPORARY REGULATION S GLOBAL] [PERMANENT REGULATION S GLOBAL] [RULE 144A GLOBAL]
CERTIFICATE AGREE TO TREAT, AND TO TAKE NO ACTION INCONSISTENT WITH THE TREATMENT OF, THE CERTIFICATES FOR SUCH TAX PURPOSES AS INTERESTS IN SUCH AN ENTITY AS DESCRIBED IN THE PREVIOUS SENTENCE. 

EACH CERTIFICATEHOLDER OR CERTIFICATE OWNER BY ITS ACCEPTANCE OF A CERTIFICATE (OR AN INTEREST THEREIN) COVENANTS AND AGREES THAT SUCH
CERTIFICATEHOLDER OR CERTIFICATE OWNER SHALL NOT (NOR SHALL IT JOIN WITH OR SOLICIT ANOTHER PERSON TO), PRIOR TO THE DATE WHICH IS ONE YEAR AND ONE DAY AFTER THE TERMINATION OF THE TRUST AND OF EACH OTHER TRUST HERETOFORE FORMED BY THE DEPOSITOR,
ACQUIESCE, PETITION OR OTHERWISE INVOKE OR CAUSE THE DEPOSITOR OR THE TRUST TO INVOKE IN ANY COURT OR GOVERNMENTAL AUTHORITY FOR THE PURPOSE OF COMMENCING OR SUSTAINING A CASE AGAINST THE DEPOSITOR OR THE TRUST UNDER ANY FEDERAL OR STATE BANKRUPTCY,
INSOLVENCY, REORGANIZATION OR SIMILAR LAW OR APPOINTING A RECEIVER, LIQUIDATOR, ASSIGNEE, TRUSTEE, CUSTODIAN, SEQUESTRATOR OR OTHER SIMILAR OFFICIAL OF THE DEPOSITOR OR THE TRUST OR ANY SUBSTANTIAL PART OF ITS PROPERTY, OR ORDERING THE WINDING UP OR
LIQUIDATION OF THE AFFAIRS OF THE DEPOSITOR OR THE TRUST UNDER A FEDERAL OR STATE BANKRUPTCY OR INSOLVENCY PROCEEDING. 
 EACH
CERTIFICATEHOLDER OR CERTIFICATE OWNER BY ACCEPTING A CERTIFICATE (OR ANY INTEREST THEREIN) ACKNOWLEDGES THAT SUCH PERSON’S CERTIFICATE (OR INTEREST THEREIN) REPRESENTS BENEFICIAL INTERESTS IN THE TRUST ONLY AND DOES NOT REPRESENT INTERESTS IN
OR OBLIGATIONS OF THE DEPOSITOR, THE SERVICER, THE ADMINISTRATOR, THE OWNER TRUSTEE, THE INDENTURE TRUSTEE OR ANY AFFILIATE THEREOF AND NO RECOURSE, EITHER DIRECTLY OR INDIRECTLY, MAY BE HAD AGAINST SUCH PARTIES OR THEIR ASSETS, EXCEPT AS MAY BE
EXPRESSLY SET FORTH OR CONTEMPLATED IN THIS AGREEMENT, THE CERTIFICATES OR THE OTHER BASIC DOCUMENTS. EXCEPT AS 

  
 Exhibit A-4 

 
EXPRESSLY PROVIDED IN THE BASIC DOCUMENTS, NONE OF THE DEPOSITOR, THE SERVICER OR THE OWNER TRUSTEE IN THEIR RESPECTIVE INDIVIDUAL CAPACITIES, OR ANY OF THEIR RESPECTIVE PARTNERS, BENEFICIARIES,
AGENTS, OFFICERS, DIRECTORS, EMPLOYEES OR SUCCESSORS OR ASSIGNS, SHALL BE PERSONALLY LIABLE FOR, NOR SHALL RECOURSE BE HAD TO ANY OF THEM FOR, THE DISTRIBUTION OF ANY AMOUNT WITH RESPECT TO THE CERTIFICATES OR THE TRUST’S PERFORMANCE OF, OR
OMISSION TO PERFORM, ANY OBLIGATIONS OR INDEMNIFICATIONS CONTAINED IN THE CERTIFICATES, THIS AGREEMENT OR THE OTHER BASIC DOCUMENTS, IT BEING EXPRESSLY UNDERSTOOD THAT SUCH CERTIFICATEHOLDER OBLIGATIONS HAVE BEEN MADE SOLELY BY THE TRUST. EACH
CERTIFICATEHOLDER BY THE ACCEPTANCE OF A CERTIFICATE (OR BENEFICIAL INTEREST THEREIN) AGREES THAT EXCEPT AS EXPRESSLY PROVIDED IN THE BASIC DOCUMENTS, IN THE EVENT OF NONPAYMENT OF ANY AMOUNTS WITH RESPECT TO THE CERTIFICATES, IT SHALL HAVE NO CLAIM
AGAINST ANY OF THE FOREGOING PERSONS FOR ANY DEFICIENCY, LOSS OR CLAIM THEREFROM. IN THE EVENT THAT ANY OF THE FOREGOING COVENANTS OF EACH CERTIFICATEHOLDER AND CERTIFICATE OWNER IS PROHIBITED BY, OR DECLARED ILLEGAL OR OTHERWISE UNENFORCEABLE
AGAINST ANY SUCH CERTIFICATEHOLDER OR CERTIFICATE OWNER UNDER APPLICABLE LAW BY ANY COURT OR OTHER AUTHORITY OF COMPETENT JURISDICTION, AND, AS A RESULT, A CERTIFICATEHOLDER OR CERTIFICATE OWNER IS DEEMED TO HAVE AN INTEREST IN ANY ASSETS OF THE
DEPOSITOR OR ANY AFFILIATE OF THE DEPOSITOR OTHER THAN THE TRUST, EACH CERTIFICATEHOLDER AND CERTIFICATE OWNER AGREES THAT (I) ITS CLAIM AGAINST ANY SUCH OTHER ASSETS SHALL BE, AND HEREBY IS, SUBJECT AND SUBORDINATE IN ALL RESPECTS TO THE
RIGHTS OF OTHER PERSONS TO WHOM RIGHTS IN THE OTHER ASSETS HAVE BEEN EXPRESSLY GRANTED, INCLUDING TO THE PAYMENT IN FULL OF ALL AMOUNTS OWING TO SUCH ENTITLED PERSONS, AND (II) THE COVENANT SET FORTH IN THE PRECEDING CLAUSE (I) CONSTITUTES
A “SUBORDINATION AGREEMENT” WITHIN THE MEANING OF, AND SUBJECT TO, SECTION 510(A) OF THE BANKRUPTCY CODE. 
 EACH CERTIFICATEHOLDER
OR CERTIFICATE OWNER BY ITS ACCEPTANCE OF A CERTIFICATE (OR AN INTEREST THEREIN) ACKNOWLEDGES AND AGREES THAT THE PURPOSE OF ARTICLE XII OF THE INDENTURE IS TO FACILITATE COMPLIANCE WITH THE FDIC RULE BY ALLY BANK, THE DEPOSITOR, THE SERVICER AND
THE TRUST AND THAT THE INTERPRETATIONS OF THE REQUIREMENTS OF THE FDIC RULE MAY CHANGE OVER TIME, WHETHER DUE TO INTERPRETIVE GUIDANCE PROVIDED BY THE FDIC OR ITS STAFF, CONSENSUS AMONG PARTICIPANTS IN THE ASSET-BACKED

  
 Exhibit A-5 

 SECURITIES MARKETS, ADVICE OF COUNSEL, OR OTHERWISE, AND AGREES THAT THE PROVISIONS SET
FORTH IN ARTICLE XII OF THE INDENTURE SHALL HAVE THE EFFECT AND MEANINGS THAT ARE APPROPRIATE UNDER THE FDIC RULE AS SUCH MEANINGS CHANGE OVER TIME ON THE BASIS OF EVOLVING INTERPRETATIONS OF THE FDIC RULE. 

[Unless this [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate is presented by an authorized
representative of The Depository Trust Company, a New York corporation (“DTC”), to the Trust or its agent for registration of transfer, exchange or payment, and any [Temporary Regulation S Global] [Permanent Regulation S Global]
[Rule 144A Global] Certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is
requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.] 

  
 Exhibit A-6 

 ALLY AUTO RECEIVABLES TRUST 2019-1 

ASSET BACKED CERTIFICATE 

evidencing a fractional undivided Percentage Interest in the Trust, as defined below, the property of which includes a pool of retail
instalment sale contracts and direct purchase money loans secured by new or used automobiles and light trucks and sold to the Trust by Ally Auto Assets LLC. 

(This [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate does not represent an interest in or
obligation of Ally Bank, Ally Auto Assets LLC or any of their respective affiliates, except to the extent described in the Basic Documents.) 

THIS CERTIFIES THAT
                                         is the
registered owner of a nonassessable, fully-paid fractional undivided Percentage Interest in Ally Auto Receivables Trust 2019-1 (the “Trust”) formed by Ally Auto Assets LLC, a Delaware limited
liability company (the “Depositor”). 
 The Trust was created pursuant to a Trust Agreement, dated as of July 17, 2018
and amended and restated as of January 4, 2019, among the Depositor, Ally Bank, as servicer, and BNY Mellon Trust of Delaware, as owner trustee (the “Owner Trustee”), as further amended and restated as of February 13, 2019
(as so amended and restated, the “Trust Agreement”), between the Depositor and the Owner Trustee, as owner trustee and paying agent, a summary of certain of the pertinent provisions of which is set forth below. To the extent not
otherwise defined herein, the capitalized terms used herein have the meanings assigned to them or incorporated by reference in the Trust Agreement. 

This [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate is one of the duly authorized Certificates
designated as Asset Backed Certificates (the “Certificates”). This [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate is issued under and is subject to the terms, provisions and conditions
of the Trust Agreement, the terms of which are incorporated herein by reference and made a part hereof, to which Trust Agreement the holder of this [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate by
virtue of the acceptance hereof assents and by which such holder is bound. 
 Under the Trust Agreement there shall be distributed on the 15th day of each month, or if such 15th day is not a Business Day, the next Business Day, commencing on March 15, 2019 (each, a
“Distribution Date”), to the Person in whose name this [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate is registered on the related Record Date, such amount as is provided in the Basic
Documents. The “Record Date,” with respect to any Distribution Date, means the [close of business on the day immediately preceding such Distribution Date][last day of the preceding Monthly Period]. 

The distributions in respect of this [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate are
payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and 

  
 Exhibit A-7 

 
private debts. All payments made by the Trust with respect to this [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate shall be applied in respect of
this [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate. 
 No transfer of this [Temporary
Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate shall be permitted if such transfer is effected through an established securities market or secondary market (or the substantial equivalent thereof) within the
meaning of Section 7704 of the Code and any regulation thereunder. 
 The holder of this [Temporary Regulation S Global] [Permanent
Regulation S Global] [Rule 144A Global] Certificate acknowledges and agrees that its rights to receive distributions in respect of this [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate are subordinated
to the rights of the Noteholders as and to the extent described in the Servicing Agreement. 
 It is the intent of the Depositor, the Owner
Trustee and the Certificateholders that, for United States federal income tax purposes, the Trust shall be treated as a grantor trust. Except as otherwise required by appropriate taxing authorities, the Depositor and the other Certificateholders by
acceptance of this [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate agree to treat, and to take no action inconsistent with the treatment of, this [Temporary Regulation S Global] [Permanent Regulation S
Global] [Rule 144A Global] Certificate for such tax purposes as interests in such a entity as described in the previous sentence. 
 Each
Certificateholder or Certificate Owner by its acceptance of this [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate (or an interest therein) covenants and agrees that such Certificateholder or Certificate
Owner shall not (nor shall it join with or solicit another person to), prior to the date which is one year and one day after the termination of the Trust and of each other trust heretofore formed by the Depositor, acquiesce, petition or otherwise
invoke or cause the Depositor or the Trust to invoke in any court or governmental authority for the purpose of commencing or sustaining a case against the Depositor or the Trust under any federal or State bankruptcy, insolvency, reorganization or
similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Depositor or the Trust or any substantial part of its property, or ordering the winding up or liquidation of the affairs of
the Depositor or the Trust under a federal or State bankruptcy or insolvency proceeding. 
 Each Certificateholder or Certificate Owner by
its acceptance of this [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate (or an interest therein) acknowledges and agrees that the purpose of Article XII of the Indenture is to facilitate compliance with
the FDIC Rule by Ally Bank, the Depositor, the Servicer and the Trust and that the interpretations of the requirements of the FDIC Rule may change over time, whether due to interpretive guidance provided by the FDIC or its staff, consensus among
participants in the asset-backed securities markets, advice of counsel, or otherwise, and agrees that the provisions set forth in Article XII of the Indenture shall have the effect and meanings that are

  
 Exhibit A-8 

 
appropriate under the FDIC Rule as such meanings change over time on the basis of evolving interpretations of the FDIC Rule. 

Except as otherwise provided in the Trust Agreement, distributions on this [Temporary Regulation S Global] [Permanent Regulation S Global]
[Rule 144A Global] Certificate shall be made as provided in the Trust Agreement by the Owner Trustee by wire transfer or check mailed to the Certificateholder without the presentation or surrender of this [Temporary Regulation S Global] [Permanent
Regulation S Global] [Rule 144A Global] Certificate or the making of any notation hereon. Except as otherwise provided in the Trust Agreement and notwithstanding the above, the final distribution on this [Temporary Regulation S Global] [Permanent
Regulation S Global] [Rule 144A Global] Certificate shall be made after due notice by the Owner Trustee of the pendency of such distribution and only upon presentation and surrender of this [Temporary Regulation S Global] [Permanent Regulation S
Global] [Rule 144A Global] Certificate at the office maintained for such purpose by the Owner Trustee. 
 Reference is hereby made to the
further provisions of this [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this
place. 
 Unless the certificate of authentication hereon shall have been executed by an authorized officer of the Owner Trustee by manual
signature, this [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate shall not entitle the holder hereof to any benefit under the Trust Agreement or the Servicing Agreement or be valid for any purpose. 

THIS [TEMPORARY REGULATION S GLOBAL] [PERMANENT REGULATION S GLOBAL] [RULE 144A GLOBAL] CERTIFICATE SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW THEREOF OR OF ANY OTHER JURISDICTION, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN
ACCORDANCE WITH SUCH LAWS. 

  
 Exhibit A-9 

 IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Trust and not in its individual
capacity, has caused this Certificate to be duly executed. 
 Dated: February 13, 2019 

			
	 ALLY AUTO RECEIVABLES TRUST 2019-1

		
	By:	 	BNY MELLON TRUST OF DELAWARE,
		 	not in its individual capacity but solely as Owner Trustee
		
	By:	 	  

		 	Name:
		 	Title:

 OWNER TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

 

			
	 BNY MELLON TRUST OF DELAWARE, not in

its individual capacity but solely as Owner Trustee

		
	By:	 	
                 

	Name:	 	
	Title:	 	

  
 Exhibit A-10 

 REVERSE OF CERTIFICATE 

This [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate does not represent an obligation of, or an
interest in, the Seller, the Depositor, the Servicer, the Indenture Trustee, the Owner Trustee or any affiliates of any of them and no recourse may be had against such parties or their assets, except as may be expressly set forth or contemplated
herein or in the Trust Agreement or the other Basic Documents. In addition, this [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate is not guaranteed by any governmental agency or instrumentality and is
limited in right of payment to certain collections and recoveries with respect to the Receivables (and certain other amounts), all as more specifically set forth herein and in the other Basic Documents. A copy of each of the other Basic Documents
may be examined during normal business hours at the principal office of the Depositor, and at such other places, if any, designated by the Depositor, by any Certificateholder upon written request. In the event of any conflict between the terms of
this [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate and the terms of the other Basic Documents, the terms of the other Basic Documents shall govern. 

The Trust Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and
obligations of the Depositor and the rights of the Certificateholders under the Trust Agreement at any time by the Depositor and the Owner Trustee with the consent of the Holders of the Notes evidencing not less than a majority of the Outstanding
Amount of the Controlling Class as of the close of the preceding Distribution Date and the consent of the Majority Certificateholders as of the close of the preceding Distribution Date. Any such consent by the Holder of this [Temporary
Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate shall be conclusive and binding on such Holder and on all future Holders of this [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global]
Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global]
Certificate. The Trust Agreement also permits the amendment thereof, in certain circumstances, without the consent of the Holders of any of the Certificates or the Notes. 

As provided in the Trust Agreement and subject to certain limitations therein set forth, the transfer of this [Temporary Regulation S Global]
[Permanent Regulation S Global] [Rule 144A Global] Certificate is registerable in the Certificate Register upon surrender of this [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate for registration of
transfer at the offices or agencies of the Certificate Registrar maintained by the Owner Trustee, accompanied by a written instrument of transfer in form satisfactory to the Owner Trustee and the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Certificates evidencing the same aggregate Percentage Interest in the Trust will be issued to the designated transferee. The initial Certificate
Registrar appointed under the Trust Agreement is BNY Mellon Trust of Delaware. 
 This [Temporary Regulation S Global] [Permanent Regulation
S Global] [Rule 144A Global] Certificate is issuable only as a registered Certificate in the minimum 

  
 Exhibit A-11 

 
denomination set forth in the Trust Agreement. As provided in the Trust Agreement and subject to certain limitations therein set forth, this [Temporary Regulation S Global] [Permanent Regulation
S Global] [Rule 144A Global] Certificate is exchangeable for a new Certificate in the same aggregate Percentage Interest and nominal principal balance requested by the Holder surrendering the same. No service charge shall be made for any such
registration of transfer or exchange, but the Owner Trustee or the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge payable in connection therewith. 

The Owner Trustee, the Certificate Registrar and any agent of the Owner Trustee or the Certificate Registrar may treat the Person in whose
name this [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate is registered as the owner hereof for all purposes, and none of the Owner Trustee, the Certificate Registrar or any such agent shall be affected
by any notice to the contrary. 
 The obligations and responsibilities created by the Trust Agreement and the Trust created thereby shall
terminate in accordance with Article VII of the Trust Agreement. 

  
 Exhibit A-12 

 ASSIGNMENT 

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

PLEASE INSERT SOCIAL SECURITY 
 NUMBER OR OTHER IDENTIFYING 

NUMBER OF ASSIGNEE 
  

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

 
 the within Certificate (Asset Backed
Certificate No. R- issued by Ally Auto Receivables Trust 2019-1), and all rights thereunder, hereby irrevocably constituting and appointing 

 
 attorney to transfer said Certificate on
the books of the Certificate Registrar, with full power of substitution in the premises. 
  

			
	 Dated:
	  	
                   
                             *

		
		  	 Signature Guaranteed:

		  	
                   
                             *

  

	*	 NOTICE: The signature to this assignment must correspond with the name of the registered owner as it appears
upon the face of the within Certificate in every particular, without alteration, enlargement or any change whatsoever. Such signature must be guaranteed by a member firm of the New York Stock Exchange or a commercial bank or trust company.

  
 Exhibit A-13 

 EXHIBIT B 

RESTATED CERTIFICATE OF TRUST 

OF ALLY AUTO RECEIVABLES TRUST 2018-4 

THIS Restated Certificate of Trust of Ally Auto Receivables Trust 2018-4 (the
“Trust”) is being duly executed and filed by the undersigned, as trustee, to amend and restate the original certificate of trust of the Trust, which was filed with the Secretary of State of the State of Delaware on July 17,
2018, under the Delaware Statutory Trust Act (12 Del. C. § 3801 et seq.) (the “Act”). 
 1. Name. The name
of the statutory trust formed hereby is Ally Auto Receivables Trust 2019-1. 
 2. Delaware
Trustee. The name and address of the trustee of the Trust having its principal place of business in the State of Delaware are BNY Mellon Trust of Delaware, 301 Bellevue Parkway, 3rd Floor, Wilmington, Delaware 19809. 

3. Effective Date. This Certificate of Trust shall be effective upon filing. 

IN WITNESS WHEREOF, the undersigned has executed this certificate of trust in accordance with Section 3811(a)(1) of the Act. 

 

			
	 BNY MELLON TRUST OF DELAWARE, not in its individual capacity

but solely as Owner Trustee

		
	By:	 	  

		 	Name:
		 	Title:

  
 Exhibit B-1 

 EXHIBIT C 

UNDERTAKING LETTER 
 Ally Auto
Assets LLC 
 Corporation Trust Center 
 1209 Orange Street 

Wilmington, Delaware 19801 
 BNY Mellon Trust of Delaware, 

as Owner Trustee of Ally Auto Receivables Trust 2019-1 

301 Bellevue Parkway, 3rd Floor 
 Wilmington, Delaware 19809 

Ladies and Gentlemen: 
 In connection with our
purchase of record or beneficial ownership of the R-___ Asset Backed Certificate (the “Certificate”) of Ally Auto Receivables Trust 2019-1, the
undersigned purchaser, record owner or beneficial owner hereby acknowledges, represents and warrants that such purchaser, record owner or beneficial owner: 

(1) is not, and has not acquired the Certificate by or for the account of, (a) (i) an “employee benefit plan,” as defined
in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), that is subject to the provisions of Title I of ERISA, (ii) a “plan” subject to Section 4975 of the Internal
Revenue Code of 1986, as amended (the “Code”), or (iii) any entity whose underlying assets include plan assets by reason of investment by an employee benefit plan or plan in such entity other than an “insurance company
general account,” as defined in Prohibited Transaction Class Exemption 95-60, whose underlying assets include less than 25% plan assets of any Benefit Plan for the entire period during which the
record owner or beneficial owner holds an interest in the Certificates, who is not and is not an affiliate of a person that has discretionary authority or control with respect to the assets of the Trust or provides investment advice for a fee
(direct or indirect) with respect to the assets of the Trust, and for which the purchase and holding of Certificates is eligible and satisfies all conditions for relief under Prohibited Transaction Class Exemption
95-60, or (b) an employee benefit plan or plan that is subject to any applicable law that is substantially similar to Title I of ERISA or Section 4975 of the Code; 

(2) did not acquire such Certificate through an established securities market or secondary market (or the substantial equivalent thereof)
within the meaning of Section 7704 of the Code and any regulation thereunder; 
 (3) if such person is a United States person (as
defined in Section 7701(a)(30) of the Code), agrees to deliver to the Owner Trustee, Paying Agent and the Administrator on or prior to the date such person becomes a Certificateholder under this Agreement (and from time to time thereafter upon
the reasonable request of the Owner Trustee, Paying Agent or the Administrator), executed originals of Internal Revenue Service Form W-9 certifying that such Certificateholder is exempt from U.S. federal
backup withholding tax; 

  
 Exhibit C-1 

 (4) if such person is not a United States person (as defined in Section 7701(a)(30) of
the Code), agrees to deliver to the Owner Trustee, Paying Agent and the Administrator on or prior to the date such person becomes a Certificateholder under this Agreement (and from time to time thereafter upon the reasonable request of the Owner
Trustee, Paying Agent or the Administrator), executed originals of Internal Revenue Service Form W-8BEN, W-8BEN-E or W-8ECI, and to the extent such Certificateholder is not the beneficial owner of the Certificate, Internal Revenue Service Form W-8IMY accompanied by Internal Revenue Service
Form W-8ECI, W-8BEN-E or W-8BEN; 

(5) if such person is not a United States person (as defined in Section 7701(a)(30) of the Code) and provides an Internal Revenue Service
Form W-8BEN or W-8BEN-E, as applicable (or Internal Revenue Service Form W-8IMY
accompanied with a Internal Revenue Service Form W-8BEN or W-8BEN-E, as applicable) under
Section 3.4(j) of the Trust Agreement in order to claim the benefits of the exemption for portfolio interest under Section 881(c) of the Code (instead of, for example, claiming the benefits of an income tax treaty to
which the United States is a party), such Certificateholder (or in the case of a Certificateholder providing such Internal Revenue Service Form W-8IMY, the beneficial owner of the Certificate) hereby
represents and warrants that it is not a (i) “bank” within the meaning of Section 881(c)(3)(A) of the Code, (ii) “10 percent shareholder” of an obligor on a Receivablewithin the meaning of Section 881(c)(3)(B) or
871(h) of the Code (as the case may be) or (iii) “controlled foreign corporation” with respect to an obligor on a Receivable described in Section 881(c)(3)(C) of the Code; 

(6) if subject to U.S. federal withholding tax imposed by FATCA if such person were to fail to comply with the applicable reporting
requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), agrees to deliver to the Owner Trustee, Paying Agent, Administrator or any person designated by any of the foregoing (individually or
collectively as the context may require, the “FATCA Administrator”) at the time or times prescribed by law and at such time or times reasonably requested by the FATCA Administrator such documentation prescribed by applicable law
(including without limitation as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the FATCA Administrator to comply with FATCA and to determine that such Certificateholder or
beneficial owner of a Certificate has complied with such person’s obligations under FATCA or to determine the amount to deduct and withhold from such payment to such person; 

(7) does not own, have any interest in or will not acquire any of the Notes or an interest therein unless such purchaser, record owner or
beneficial owner has complied with Section 3.14 of the Trust Agreement; and 
 (8) acknowledges that you and
others will rely on our acknowledgments, representations and warranties made in connection with our purchase of record or beneficial ownership of the Certificate and agrees to notify you promptly in writing if any of our representations or
warranties herein cease to be accurate and complete. 

  
 Exhibit C-2 

 
			
	  

Name of Certificate Owner

		
	By:	 	
                 

	Name:	 	
                 

	Title:	 	
                 

Date:                         
            

  
 Exhibit C-3EX-4.3

 Exhibit 4.3 
  

 
  

POOLING AGREEMENT 

BETWEEN 
 ALLY AUTO
ASSETS LLC 
 AND 

ALLY BANK 
 DATED AS OF
FEBRUARY 13, 2019 
  
  

 

 Table of Contents 
  

							
	Page	 
	 ARTICLE I DEFINITIONS
	  	 	1	 
			
	 SECTION 1.01
	 	Definitions	  	 	1	 
			
	 SECTION 1.02
	 	Owner of a Receivable	  	 	1	 
		
	 ARTICLE II PURCHASE AND SALE OF RECEIVABLES
	  	 	1	 
			
	 SECTION 2.01
	 	Purchase and Sale of Receivables	  	 	1	 
			
	 SECTION 2.02
	 	Receivables Purchase Price	  	 	3	 
			
	 SECTION 2.03
	 	The Closing	  	 	3	 
		
	 ARTICLE III REPRESENTATIONS AND WARRANTIES
	  	 	3	 
			
	 SECTION 3.01
	 	Representations and Warranties as to the Receivables	  	 	3	 
			
	 SECTION 3.02
	 	Representations and Warranties as to the Pool of Receivables	  	 	5	 
			
	 SECTION 3.03
	 	Additional Representations and Warranties of the Seller	  	 	6	 
			
	 SECTION 3.04
	 	Representations and Warranties of Ally Auto	  	 	7	 
		
	 ARTICLE IV ADDITIONAL AGREEMENTS
	  	 	8	 
			
	 SECTION 4.01
	 	Conflicts With Further Transfer Agreements	  	 	8	 
			
	 SECTION 4.02
	 	Protection of Title	  	 	8	 
			
	 SECTION 4.03
	 	Other Liens or Interests	  	 	9	 
			
	 SECTION 4.04
	 	Repurchase or Substitution of Receivables	  	 	9	 
			
	 SECTION 4.05
	 	Indemnification	  	 	11	 
			
	 SECTION 4.06
	 	Further Assignments	  	 	11	 
			
	 SECTION 4.07
	 	Pre-Closing Collections	  	 	11	 
			
	 SECTION 4.08
	 	Compliance with the FDIC Rule	  	 	11	 
			
	 SECTION 4.09
	 	Asset Representations Review	  	 	11	 
		
	 ARTICLE V CONDITIONS
	  	 	12	 
			
	 SECTION 5.01
	 	Conditions to Obligation of Ally Auto	  	 	12	 
			
	 SECTION 5.02
	 	Conditions to Obligation of the Seller	  	 	13	 
		
	 ARTICLE VI MISCELLANEOUS PROVISIONS
	  	 	13	 
			
	 SECTION 6.01
	 	Amendment	  	 	13	 
			
	 SECTION 6.02
	 	Survival	  	 	13	 
			
	 SECTION 6.03
	 	Notices	  	 	13	 

  
 i 

 Table of Contents 

(continued) 
  

							
	Page	 
			
	 SECTION 6.04
	 	Governing Law	  	 	13	 
			
	 SECTION 6.05
	 	Waivers	  	 	13	 
			
	 SECTION 6.06
	 	Costs and Expenses	  	 	13	 
			
	 SECTION 6.07
	 	Confidential Information	  	 	14	 
			
	 SECTION 6.08
	 	Headings	  	 	14	 
			
	 SECTION 6.09
	 	Counterparts	  	 	14	 
			
	 SECTION 6.10
	 	No Petition Covenant	  	 	14	 
			
	 SECTION 6.11
	 	Limitations on Rights of Others	  	 	14	 
			
	 SECTION 6.12
	 	Merger and Consolidation of the Seller or Ally Auto	  	 	14	 
			
	 SECTION 6.13
	 	Assignment	  	 	14	 
			
	 SECTION 6.14
	 	Official Record	  	 	15	 

  
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	EXHIBIT A	  	–  	  	Form of First Step Receivables Assignment
			
	SCHEDULE A	  	–  	  	Schedule of Receivables
			
	APPENDIX A	  	–  	  	Definitions, Rules of Construction and Notices
			
	APPENDIX B	  	–  	  	Additional Representations and Warranties

  

  

 THIS POOLING AGREEMENT, dated as of February 13, 2019, is between ALLY AUTO ASSETS LLC,
a Delaware limited liability company (“Ally Auto”), and ALLY BANK, a Utah chartered bank (the “Seller”). 

WHEREAS, Ally Auto desires to purchase on the date hereof a portfolio of automobile and light truck retail instalment sale contracts, direct
purchase money loans and related rights owned by the Seller; 
 WHEREAS, the Seller is willing to sell on the date hereof such contracts and
related rights to Ally Auto; 
 WHEREAS, Ally Auto may wish to sell or otherwise transfer on the date hereof such contracts and related
rights, or interests therein, to a trust, corporation, partnership or other entity (any such entity being the “Issuing Entity”); and 

WHEREAS, the Issuing Entity may issue debentures, notes, participations, certificates of beneficial interest, partnership interests or other
interests or securities (collectively, any such issued interests or securities being “Securities”) to fund its acquisition of such contracts and related rights. 

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

ARTICLE I DEFINITIONS 

SECTION 1.01 Definitions. Certain capitalized terms used in this Agreement are defined in and shall have the respective meanings
assigned to them in Part I of Appendix A to this Agreement. All references herein to “the Agreement” or “this Agreement” are to this Pooling Agreement as it may be amended, supplemented or modified from time
to time, and all references herein to Articles and Sections are to Articles or Sections of this Agreement unless otherwise specified. The rules of construction set forth in Part II of such Appendix A shall be applicable to this Agreement.

 SECTION 1.02 Owner of a Receivable. For purposes of this Agreement, the “Owner” of a Receivable shall mean Ally
Auto until the sale, transfer, assignment or other conveyance of such Receivable by Ally Auto pursuant to the terms of the applicable Further Transfer Agreements, and thereafter shall mean the Issuing Entity; provided that the Seller, the
Servicer or Ally Auto, as applicable, shall be the “Owner” of any Receivable from and after the time that such Person shall acquire such Receivable, whether pursuant to Section 4.04 of this Agreement, any
provision of the Further Transfer Agreements, Section 2.07 of the Servicing Agreement or otherwise. 
 ARTICLE II PURCHASE AND SALE
OF RECEIVABLES 
 SECTION 2.01 Purchase and Sale of Receivables. 

(a) Purchase. On the Closing Date, subject to satisfaction of the conditions specified in Article V and the First Step
Receivables Assignment (and, in any event, immediately 

  
 1 

 
prior to consummation of the related transactions contemplated by the Further Transfer Agreements, if any), the Seller shall sell, transfer, assign and otherwise convey to Ally Auto, without
recourse: 
 (i) all right, title and interest of the Seller in, to and under the Receivables listed on the Schedule of Receivables and all
monies received thereon on and after the Cutoff Date or, with respect to a Substitute Receivable, the related Substitute Cutoff Date, exclusive of any amounts allocable to the premium for physical damage collateral protection insurance required by
the Seller or the Servicer covering any related Financed Vehicle; 
 (ii) the interest of the Seller in the security interests in the
Financed Vehicles granted by Obligors pursuant to the Receivables and, to the extent permitted by law, any accessions thereto; 
 (iii) the
interest of the Seller in any proceeds from claims on any physical damage, credit life, credit disability or other insurance policies covering the related Financed Vehicles or Obligors; 

(iv) the interest of the Seller in any proceeds from recourse against Dealers on the Receivables; 

(v) all right, title and interest of the Seller in, to and under the First Step Receivables Assignment; and 

(vi) all present and future claims, demands, causes and choses in action in respect of any or all the foregoing described in clauses
(i) through (v) above and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all the foregoing, including all proceeds of the conversion of any or all of the foregoing, voluntary or
involuntary, into cash or other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance proceeds, investment property, payment intangibles, general
intangibles, condemnation awards, rights to payment of any and every kind and other forms of obligations and receivables, instruments and other property which at any time constitute all or part of or are included in the proceeds of any of the
foregoing. 
 The property described in clauses (i) through (vi) above is referred to herein collectively as the
“Purchased Property.” 
 (b) It is the intention of the Seller and Ally Auto that the sale, transfer, assignment and other
conveyances of the Receivables contemplated by this Agreement and the First Step Receivables Assignment shall constitute a sale of the Receivables from the Seller to Ally Auto and the beneficial interest in and title to the Receivables shall not be
part of the Seller’s estate in the event of the filing of a petition for insolvency, receivership or conservatorship by or against the Seller or placement into receivership or conservatorship of the Seller under any relevant bankruptcy,
insolvency, receivership or conservatorship law. 
 (c) The sale, transfer, assignment and other conveyances of Receivables contemplated by
this Agreement and the First Step Receivables Assignment do not constitute 

  
 2 

 
and are not intended to result in the creation of or an assumption by Ally Auto of any obligation of the Seller, the Servicer or any other Person to the Obligors, Dealers, insurers or any other
Person in connection with the Receivables, any Dealer Agreements, any insurance policies or any other agreement or instrument relating to any of them. 

SECTION 2.02 Receivables Purchase Price. In consideration for the Purchased Property, Ally Auto shall, on the Closing Date, pay to the
Seller an amount equal to the Initial Aggregate Receivables Principal Balance in respect of the Receivables and the Seller shall execute and deliver to Ally Auto an assignment in the form attached hereto as Exhibit A (the “First Step
Receivables Assignment”). The Initial Aggregate Receivables Principal Balance is equal to $1,119,999,920.35. A portion of the Initial Aggregate Receivables Principal Balance, equal to $999,650,198.31, shall be paid to the Seller in
immediately available funds and the balance of such purchase price shall be paid through an increase in Seller’s capital account in Ally Auto (as a result of a deemed capital contribution from Seller to Ally Auto), equal to $120,349,722.04. The
amount of the deemed capital contribution shall be duly recorded by the Seller and Ally Auto. 
 SECTION 2.03 The Closing. The sale
and purchase of the Receivables shall take place at the offices of Mayer Brown LLP, 71 South Wacker Drive, Chicago, Illinois 60606, on the Closing Date at a time mutually agreeable to the Seller and Ally Auto, and will occur simultaneously
with the closing of transactions contemplated by the Further Transfer Agreements. 
 ARTICLE III REPRESENTATIONS AND WARRANTIES 

SECTION 3.01 Representations and Warranties as to the Receivables. The Seller makes the following representations and warranties as to
each Receivable, on which Ally Auto relies in accepting the Receivables. Such representations and warranties speak as of the Closing Date, and shall survive the sale, transfer and assignment of the Receivables to Ally Auto and the subsequent
assignment and transfer pursuant to the Further Transfer Agreements: 
 (a) Characteristics of Receivables. 

(i) General. Each Receivable: 

(1) is secured by a Financed Vehicle, was originated in the United States by the Seller or one of its subsidiaries or a Dealer for the retail
sale of a Financed Vehicle in the ordinary course of business, was fully and properly executed by the parties thereto, if not originated by the Seller, was purchased by the Seller from one of its subsidiaries or from such Dealer under an existing
Dealer Agreement, and was validly assigned by such subsidiary or such Dealer to the Seller in accordance with its terms; 
 (2) has created
or shall create a valid, binding and enforceable first priority security interest in favor of the Seller in the Financed Vehicle, which security interest is assignable by the Seller to Ally Auto; 

  
 3 

 (3) contains customary and enforceable provisions such as to render the rights and remedies
of the holder thereof adequate for realization against the collateral of the benefits of the security; 
 (4) is a Simple Interest
Receivable; 
 (5) provides for level monthly payments which may vary from one another by no more than $5, which shall amortize the Amount
Financed by maturity and shall yield interest at the Annual Percentage Rate; 
 (6) has an original term of not less than twelve
(12) monthly payments and not greater than seventy-five (75) monthly payments and a remaining term of not less than three (3) monthly payments; and 

(7) with respect to which at least one monthly payment has been made. 

(ii) Receivables. In addition to the characteristics set forth in Section 3.01(a)(i) above, each Receivable
(1) has a first scheduled payment due date on or after July 15, 2012, (2) was originated on or after June 8, 2012, (3) as of the Cutoff Date, was not considered past due (that is, no payments due on that Receivable in
excess of $25 were more than thirty (30) days delinquent) and was not a Liquidating Receivable and (4) has an Annual Percentage Rate not greater than 19.00%. 

(b) Schedule of Receivables. The information set forth in the Schedule of Receivables is true and correct in all material respects
relating to such Receivable. 
 (c) Compliance With Law. All requirements of applicable federal, State and local laws, and regulations
thereunder, including usury laws, Utah banking 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 Magnuson-Moss Warranty Act, the Consumer Financial Protection Bureau’s Regulations “B” and “Z,” the Servicemembers Civil Relief Act
of 2003, the Texas Consumer Credit Code, and state adaptations of the National Consumer Act and the Uniform Consumer Credit Code and other consumer credit laws and equal credit opportunity and disclosure laws, in respect of each such Receivable and
other Purchased Property, have been complied with in all material respects, and each such Receivable and the sale of the Financed Vehicle evidenced thereby complied at the time it was originated or made and now complies in all material respects with
all legal requirements of the jurisdiction in which it was originated or made. 
 (d) Binding Obligation. Each such Receivable
represents the genuine, legal, valid and binding payment obligation in writing of the Obligor thereon, enforceable in all material respects by the holder thereof in accordance with its terms, except as enforceability may be limited by bankruptcy,
insolvency, reorganization or similar laws affecting the enforcement of creditors’ rights in general and by equity, regardless of whether such enforceability is considered in a proceeding in equity or at law. 

  
 4 

 (e) Security Interest in Financed Vehicle. Immediately prior to the sale, transfer
and assignment thereof pursuant hereto and the First Step Receivables Assignment, each Receivable was secured by a validly perfected first priority security interest in the Financed Vehicle in favor of the Seller as secured party or all necessary
and appropriate action had been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of the Seller as secured party. 

(f) Receivables In Force. Each such Receivable has not 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. 
 (g) No Waiver. Since the Cutoff
Date no provision of any such Receivable has been waived, altered or modified in any respect, except to the extent set forth in the related Receivable File; provided that no such modification has increased the number of originally scheduled
due dates or the Amount Financed of the related Receivable. 
 (h) No Defenses. No right of rescission, setoff, counterclaim or
defense has been asserted or threatened as indicated in the Receivable File with respect to any such Receivable. 
 (i) Insurance. The
Obligor under each such Receivable is required to maintain a physical damage insurance policy of the type that the Seller requires in accordance with its customary underwriting standards for the purchase of motor vehicle related receivables.

 (j) Good Title. Each such Receivable has not been sold, transferred, assigned or pledged by the Seller to any Person other
than Ally Auto; immediately prior to the conveyance of each such Receivable pursuant to this Agreement and the First Step Receivables Assignment, the Seller had good and marketable title thereto, free of any Lien; and, upon execution and delivery of
this Agreement by the Seller, Ally Auto shall have all of the right, title and interest of the Seller in and to each such Receivable, the unpaid indebtedness evidenced thereby and the collateral security therefor, free of any Lien. 

(k) One Original. There is only one original executed copy (or with respect to “electronic chattel paper,” one authoritative
copy) of each such Receivable. 
 (l) No Documents or Instruments. No such Receivable, or constituent part thereof, constitutes a
“negotiable instrument” or “negotiable document of title” (as such terms are used in the UCC). 
 SECTION 3.02
Representations and Warranties as to the Pool of Receivables. The Seller makes the following representations and warranties as to the pool of Receivables, on which Ally Auto relies in accepting the Receivables. Such representations and
warranties speak as of the Closing Date, and shall survive the sale, transfer and assignment of the Receivables to Ally Auto and the subsequent assignment and transfer pursuant to the Further Transfer Agreements: 

(a) Creation, Perfection and Priority of Security Interests. The representations and warranties regarding creation, perfection and
priority of security interests in the Purchased 

  
 5 

 
Property, which are attached to this Agreement as Appendix B, are true and correct to the extent that they are applicable. 

(b) No Adverse Selection. No selection procedures believed to be adverse to Ally Auto or to holders of the Securities issued under the
Further Transfer Agreements were utilized in selecting the Receivables from those receivables of the Seller that meet the selection criteria set forth in this Agreement. 

(c) No Liens. To the best of the Seller’s knowledge: (1) there are no liens or claims that have been filed for work, labor or
materials affecting any Financed Vehicle securing any Receivable that are or may be liens prior to, or equal or coordinate with, the security interest in the Financed Vehicle granted by such Receivable; (2) no contribution failure has occurred
with respect to any Benefit Plan which is sufficient to give rise to a lien under Section 303 (k) of ERISA with respect to any Receivable; and (3) no tax lien has been filed and no claim related thereto is being asserted with respect
to any Receivable. 
 (d) Lawful Assignment. Each such Receivable was not originated in, or is not subject to the laws of, any
jurisdiction the laws of which would make unlawful the sale, transfer and assignment of each such Receivable under this Agreement, the Trust Sale Agreement or the Indenture, as applicable. 

(e) All Filings Made. All filings (including UCC filings) necessary in any jurisdiction to give Ally Auto a first priority perfected
ownership interest in each such Receivable shall have been made. 
 SECTION 3.03 Additional Representations and Warranties of the
Seller. The Seller hereby represents and warrants to Ally Auto as of the Closing Date that: 
 (a) Organization and Good Standing;
FDIC. The Seller has been duly organized and is validly existing as a Utah chartered bank, with power and authority to own its properties and to conduct its business as such properties are presently owned and such business is presently
conducted; and as of the date hereof, the Seller is insured by the Federal Deposit Insurance Corporation and is subject to the Federal Deposit Insurance Act; 

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

(c) Power and Authority. The Seller has the power and authority to execute and deliver this Agreement and the First Step Receivables
Assignment and to carry out its terms; the Seller has full power and authority to sell and assign the property to be sold and assigned to Ally Auto, and has duly authorized such sale and assignment to Ally Auto by all necessary corporate action; and
the execution, delivery and performance of this Agreement and the First Step Receivables Assignment have been duly authorized by the Seller by all necessary corporate action; 

  
 6 

 (d) Valid Sale; Binding Obligation. This Agreement and the First Step Receivables
Assignment, when duly executed and delivered, shall constitute a valid sale, transfer and assignment of the Receivables, in each case, enforceable against creditors of and purchasers from the Seller; and this Agreement together with the First Step
Receivables Assignment, when duly executed and delivered, shall constitute a legal, valid and binding obligation of the Seller enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, receivership,
conservatorship, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights in general and by general principles of equity, regardless of whether such enforceability is considered in a proceeding in equity
or at law; 
 (e) No Violation. The consummation of the transactions contemplated by this Agreement and the First Step Receivables
Assignment and the fulfillment of the terms of this Agreement and the First Step Receivables Assignment shall not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a
default under, the articles of incorporation or bylaws (or similar organizational documents) of the Seller, or any indenture, agreement, mortgage, deed of trust or other instrument to which the Seller is a party or by which it is bound, or result in
the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement, mortgage, deed of trust or other instrument, other than this Agreement and the First Step Receivables Assignment or violate any
law or, to the best of the Seller’s knowledge, any order, rule or regulation applicable to the Seller of any court or of any federal or State regulatory body, administrative agency or other governmental instrumentality having jurisdiction over
the Seller or any of its properties; and 
 (f) No Proceedings. To the Seller’s knowledge, there are no proceedings or
investigations pending, or threatened, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over the Seller or its properties (A) asserting the invalidity of this
Agreement or the First Step Receivables Assignment, (B) seeking to prevent the consummation of any of the transactions contemplated by this Agreement or the First Step Receivables Assignment, or (C) seeking any determination or ruling that
might materially and adversely affect the performance by the Seller of its obligations under, or the validity or enforceability of, this Agreement and the First Step Receivables Assignment. 

SECTION 3.04 Representations and Warranties of Ally Auto. Ally Auto hereby represents and warrants to the Seller as of the Closing
Date: 
 (a) Organization and Good Standing. Ally Auto has been duly formed and is validly existing as an entity 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 presently owned and such business is presently conducted; 

(b) Due Qualification. Ally Auto is duly qualified to do business as a foreign entity in good standing, and has obtained all necessary
licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business requires such qualification; 

  
 7 

 (c) Power and Authority. Ally Auto has the power and authority to execute and deliver
this Agreement and the First Step Receivables Assignment and to carry out its terms; Ally Auto had at all relevant times, and now has, power, authority and legal right to acquire and own the Receivables and the execution, delivery and performance of
this Agreement and the First Step Receivables Assignment have been duly authorized by Ally Auto by all necessary limited liability company action; 

(d) No Violation. The consummation of the transactions contemplated by this Agreement and the First Step Receivables Assignment and the
fulfillment of the terms of this Agreement and the First Step Receivables Assignment shall not conflict with, result in any breach of any of the terms and provisions of or constitute (with or without notice or lapse of time) a default under, the
certificate of formation or limited liability company agreement of Ally Auto, or any indenture, agreement, mortgage, deed of trust or other instrument to which Ally Auto is a party or by which it is bound, or result in the creation or imposition of
any Lien upon any of its properties pursuant to the terms of any such indenture, agreement or other instrument, other than any Further Transfer Agreement or violate any law or, to the best of Ally Auto’s knowledge, any order, rule or regulation
applicable to Ally Auto of any court or of any federal or State regulatory body, administrative agency or other governmental instrumentality having jurisdiction over Ally Auto or any of its properties; and 

(e) No Proceedings. To Ally Auto’s knowledge, there are no proceedings or investigations pending, or threatened, before any court,
regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over Ally Auto or its properties (i) asserting the invalidity of this Agreement and the First Step Receivables Assignment, or
(ii) seeking any determination or ruling that might materially and adversely affect the performance by Ally Auto of its obligations under, or the validity or enforceability of, this Agreement and the First Step Receivables Assignment. 

ARTICLE IV ADDITIONAL AGREEMENTS 

SECTION 4.01 Conflicts With Further Transfer Agreements. To the extent that any provision of Sections 4.02 through 4.04
of this Agreement conflicts with any provision of the Further Transfer Agreements, the Further Transfer Agreements shall govern. 
 SECTION
4.02 Protection of Title. 
 (a) Filings. The Seller shall prepare or authorize, as applicable, and file such financing
statements or amendments to financing statements and cause to be authorized or prepared, as applicable, and filed such continuation and other statements, all in such manner and in such places as may be required by law fully to preserve, maintain and
protect the interest of Ally Auto under this Agreement and the First Step Receivables Assignment in the Receivables and the other Purchased Property and in the proceeds thereof. The Seller shall deliver (or cause to be delivered) to Ally Auto
file-stamped copies of, or filing receipts for, any document filed as provided above, as soon as available following such filing, and the Seller hereby authorizes Ally Auto and its assigns to file all such financing statements without its signature.

  
 8 

 (b) Name Change. The Seller shall not change its State of organization or its name,
identity or entity structure in any manner that would, could or might make any financing statement or continuation statement filed by the Seller, Ally Auto or Ally Auto’s assigns in accordance with Section 4.02(a)
seriously misleading within the meaning of the UCC, unless it shall give Ally Auto written notice thereof within ten (10) days of such change. 

(c) Executive Office; Maintenance of Offices. The Seller shall give Ally Auto written notice within ten (10) days of any relocation
of its principal executive office if, as a result of such relocation, the applicable provisions of the UCC would require the filing of any amendment of any previously filed financing or continuation statement or of any new financing statement. The
Seller shall at all times maintain each office from which it originates Receivables and its principal executive office within the United States of America. 

(d) New Debtor. In the event that the Seller shall change the jurisdiction in which it is formed or otherwise enter into any transaction
which would result in a “new debtor” (as defined in the UCC) succeeding to the obligations of the Seller hereunder, the Seller shall comply fully with the obligations of Section 4.02(a). 

SECTION 4.03 Other Liens or Interests. Except for the conveyances hereunder and under the First Step Receivables Assignment and as
contemplated by the Further Transfer Agreements, the Seller shall not sell, pledge, assign or transfer the Receivables or other Purchased Property to any other Person, or grant, create, incur, assume or suffer to exist any Lien on any interest
therein, and the Seller shall defend the right, title and interest of Ally Auto in, to and under such Receivables or other Purchased Property against all claims of third parties claiming through or under the Seller. 

SECTION 4.04 Repurchase or Substitution of Receivables. 

(a) Repurchase or Substitution Events. By its execution of the Further Transfer Agreements to which it is a party, the Seller shall
acknowledge the assignment by Ally Auto of such of its right, title and interest in, to and under this Agreement and the First Step Receivables Assignment to the Issuing Entity as shall be provided in the Further Transfer Agreements. The Seller
hereby covenants and agrees with Ally Auto for the benefit of Ally Auto and the Interested Parties that in the event of a breach of any of the Seller’s representations and warranties contained in Section 3.01 or
Section 3.02 hereof with respect to any Receivable (a “Repurchase or Substitution Event”), the Seller shall (a) if such breach is discovered on or prior to the second anniversary of the Closing Date
and if the aggregate Principal Balance of the Substitute Receivables substituted since the Closing Date is less than or equal to 10% of the Initial Aggregate Receivables Principal Balance, the Seller shall substitute a Substitute Receivable in
exchange for such Warranty Receivable by delivering a First Step Receivables Assignment with respect to such Substitute Receivable on the related Substitution Date or (b) if such breach is discovered after the second anniversary of the Closing
Date or if the Seller has previously sold Substitute Receivables to Ally Auto in an amount greater than 10% of the Initial Aggregate Receivables Principal Balance, the Seller shall, if required by the Further Transfer Agreements, repurchase such
Warranty Receivable from the Issuing Entity (if the Issuing Entity is then the Owner of such Warranty Receivable) on the date and for the amount specified in the Further Transfer Agreements, in each case, without further notice from Ally Auto
hereunder. 

  
 9 

 
Upon the occurrence of a Repurchase or Substitution Event with respect to a Warranty Receivable for which Ally Auto is the Owner, the Seller agrees to repurchase or substitute such Warranty
Receivable from Ally Auto for an amount and upon the same terms as the Seller would be obligated to repurchase or substitute such Warranty Receivable from the Issuing Entity if the Issuing Entity was then the Owner thereof, and upon payment of the
Warranty Payment, the Seller shall have such rights with respect to such Warranty Receivable as if the Seller had purchased or substituted such Warranty Receivable from the Issuing Entity as the Owner thereof. It is understood and agreed that the
obligation of the Seller to repurchase or substitute any Warranty Receivable as to which a breach has occurred and is continuing shall, if such obligation is fulfilled, constitute the sole remedy against the Seller for such breach available to Ally
Auto or any Interested Party. 
 (b) Identification of Substitute Receivables. The Seller shall select the Substitute Receivable
within the portfolio of receivables owned by the Seller by identifying all of the receivables that meet the criteria set forth in each of the following criteria and then removing receivables that do not satisfy the criteria specified in each
successive clause in the order of priority set forth below until only one receivable is available: 
 (i) first, the Substitute Receivable
must satisfy each of the criteria set forth in the definition of “Substitute Receivable”; 
 (ii) second, the Substitute
Receivable must be the receivable owned by the Seller that has a Principal Balance closest to the Principal Balance of the related Warranty Receivable; 

(iii) third, the Substitute Receivable must be the receivable owned by the Seller that has an Annual Percentage Rate closest to the Annual
Percentage Rate of the related Warranty Receivable; 
 (iv) fourth, the Substitute Receivable must be the receivable owned by the Seller
that has a remaining term closest to the remaining term of the Warranty Receivable; 
 (v) fifth, the Substitute Receivable must be the
receivable owned by the Seller that has an accompanying FICO score closest to the FICO score of the Obligor related to the Warranty Receivable; and 

(vi) sixth, the Substitute Receivable must be the receivable owned by the Seller that is secured by the related Financed Vehicle that is
closest to the Financed Vehicle that secures the related Warranty Receivable, with the characteristics determined in the following order of priority: 

(1) the make of the related Financed Vehicle; 

(2) the model year of the related Financed Vehicle; 

(3) whether the related Financed Vehicle was used or new at the time that the Substitute Receivable was acquired by the Seller; and 

  
 10 

 (4) the mileage of the related Financed Vehicle to the nearest 10th of a mile. 
 (c) Repurchase Dispute Resolution. The Seller hereby agrees to
cooperate with the Interested Parties in any ADR Proceeding commenced pursuant to the provisions set forth in the Further Transfer Agreements. Ally Auto hereby agrees to provide the Seller with the opportunity to exercise any rights of Ally Auto
pursuant to the Further Transfer Agreements with respect to an ADR Proceeding to the extent a dispute relates to the representations and warranties of the Seller contained in Section 3.01 or
Section 3.02. 
 SECTION 4.05 Indemnification. The Seller shall indemnify Ally Auto for any liability as a
result of the failure of a Receivable to be originated in compliance with all requirements of law. This indemnity obligation shall be in addition to any obligation that the Seller may otherwise have. 

SECTION 4.06 Further Assignments. The Seller acknowledges that Ally Auto may, pursuant to the Further Transfer Agreements, sell the
Receivables to the Issuing Entity and assign its rights hereunder and under the First Step Receivables Assignment to the Issuing Entity, subject to the terms and conditions of the Further Transfer Agreements, and that the Issuing Entity may in turn
further pledge, assign or transfer its rights in the Receivables and this Agreement and the First Step Receivables Assignment. The Seller further acknowledges that Ally Auto may assign its rights under the Custodian Agreement to the Issuing Entity.

 SECTION 4.07 Pre-Closing Collections. Within two (2) Business Days after the Closing
Date the Seller shall transfer to the account or accounts designated by Ally Auto (or by the Issuing Entity under the Further Transfer Agreements) all collections on the Receivables held by the Seller on the Closing Date, and conveyed to Ally Auto
pursuant to Section 2.01. 
 SECTION 4.08 Compliance with the FDIC Rule. The Seller agrees to
(i) perform the covenants set forth in Article XII of the Indenture applicable to it and (ii) facilitate compliance with Article XII of the Indenture by the Ally Parties. 

SECTION 4.09 Asset Representations Review. 

(a) The Seller shall (i) at all times while any Public Notes remain Outstanding, ensure that an Asset Representations Reviewer is
appointed, (ii) cooperate with the Asset Representations Reviewer in creating procedures for a review of the representations and warranties set forth in Section 3.01, (iii) provide the Asset Representations Reviewer
with the Asset Representations Review Notice and (iv) provide the Asset Representations Reviewer with reasonable access to the Seller’s offices and information databases upon the initiation of an Asset Representations Review as set forth
in Section 5.17(d) of the Indenture. 
 (b) Upon receipt of a final report from the Asset Representations Reviewer, the Seller shall
review the findings of the Asset Representations Reviewer and determine whether a breach of a representation or warranty set forth in Section 3.01 has occurred with respect to any Receivable tested by the Asset
Representations Reviewer and whether a repurchase or substitution of such Receivable is required pursuant to Section 4.04(a). Upon the 

  
 11 

 
written request of a Noteholder or Note Owner, the Seller shall forward the final report from the Asset Representations Reviewer to such Noteholder or Note Owner. 

ARTICLE V CONDITIONS 

SECTION 5.01 Conditions to Obligation of Ally Auto. The obligation of Ally Auto to purchase the Receivables hereunder and pursuant to
the First Step Receivables Assignment is subject to the satisfaction of the following conditions: 
 (a) Representations and Warranties
True. The representations and warranties of the Seller hereunder shall be true and correct at the time of the Closing Date, and the Seller shall have performed all obligations to be performed by it hereunder on or prior to the Closing Date. 

(b) No Repurchase or Substitution Event. No Repurchase or Substitution Event shall have occurred on or prior to the Closing Date. 

(c) Computer Files Marked. The Seller shall have or shall have caused to have, at its own expense, on or prior to the Closing Date,
indicated in its computer files created in connection with the Receivables that the Receivables have been sold to Ally Auto pursuant to this Agreement and the First Step Receivables Assignment and deliver to Ally Auto the Schedule of Receivables,
certified by an officer of the Seller to be true, correct and complete. 
 (d) Documents to be Delivered By the Seller. 

(i) The Assignment. On the Closing Date, the Seller shall execute and deliver the First Step Receivables Assignment. 

(ii) Evidence of UCC Filing. On or prior to the Closing Date, the Seller shall record and file, at its own expense, a UCC-1 financing statement in each jurisdiction in which required by applicable law, authorized by and naming the Seller as seller or debtor, naming Ally Auto as purchaser or secured party, naming the Receivables and
the other Purchased Property as collateral, meeting the requirements of the laws of each such jurisdiction and in such manner as is necessary to perfect the sale, transfer, assignment and conveyance of such Receivables to Ally Auto. The Seller shall
deliver a file-stamped copy, or other evidence satisfactory to Ally Auto of such filing, to Ally Auto on or prior to the Closing Date. 

(iii) Other Documents. On the Closing Date, the Seller shall provide such other documents as Ally Auto may reasonably request. 

(e) Other Transactions. The transactions contemplated by the Further Transfer Agreements shall be consummated to the extent that such
transactions are intended to be substantially contemporaneous with the transactions hereunder. 
 (f) Asset Representations Reviewer.
The Asset Representations Reviewer shall have been appointed and shall have entered into the Asset Representations Review Agreement. 

  
 12 

 SECTION 5.02 Conditions to Obligation of the Seller. The obligation of the Seller to
sell the Receivables to Ally Auto hereunder or pursuant to the First Step Receivables Assignment is subject to the satisfaction of the following conditions: 

(a) Representations and Warranties True. The representations and warranties of Ally Auto hereunder shall be true and correct as of the
Closing Date with respect to the Receivables, and Ally Auto shall have performed all obligations to be performed by it hereunder or pursuant to the First Step Receivables Assignment on or prior to the closing hereunder. 

(b) Receivables Purchase Price. On the Closing Date, Ally Auto shall pay to the Seller that portion of the Initial Aggregate Receivables
Principal Balance as provided in Section 2.02. 
 ARTICLE VI MISCELLANEOUS PROVISIONS 

SECTION 6.01 Amendment. This Agreement may be amended from time to time (subject to any expressly applicable amendment provision of the
Further Transfer Agreements or the Servicing Agreement) by a written amendment duly executed and delivered by the Seller and Ally Auto. 

SECTION 6.02 Survival. The representations and warranties of the Seller set forth in Articles III and IV of this
Agreement shall remain in full force and effect and shall survive the Closing Date under Section 2.03 hereof and the closing under the Further Transfer Agreements. 

SECTION 6.03 Notices. All demands, notices and communications upon or to the Seller or Ally Auto under this Agreement shall be
delivered as specified in Part III of Appendix A to this Agreement. 
 SECTION 6.04 Governing Law. THIS AGREEMENT AND THE
FIRST STEP RECEIVABLES ASSIGNMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS THEREOF OR OF ANY OTHER JURISDICTION OTHER THAN SECTION 5-1401 AND SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES UNDER THIS AGREEMENT SHALL BE DETERMINED IN
ACCORDANCE WITH SUCH LAWS. 
 SECTION 6.05 Waivers. No failure or delay on the part of Ally Auto in exercising any power, right or
remedy under this Agreement or the First Step Receivables Assignment shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or remedy preclude any other or further exercise thereof or the exercise of any
other power, right or remedy. 
 SECTION 6.06 Costs and Expenses. The Seller agrees to pay all reasonable out-of-pocket costs and expenses of Ally Auto, including fees and expenses of counsel, in connection with the perfection as against third parties of Ally Auto’s right,
title and interest in, to and under the Receivables and the enforcement of any obligation of the Seller hereunder. 

  
 13 

 SECTION 6.07 Confidential Information. Ally Auto agrees that it shall neither use nor
disclose to any person the names and addresses of the Obligors, except in connection with the enforcement of Ally Auto’s rights hereunder, under the Receivables, under the Further Transfer Agreements or as required by law. 

SECTION 6.08 Headings. The headings of the various Articles and Sections herein are for convenience of reference only and shall not
define or limit any of the terms or provisions hereof. 
 SECTION 6.09 Counterparts. This Agreement may be executed in two or more
counterparts and by different parties on separate counterparts, each of which shall be an original, but all of which together shall constitute one and the same instrument. 

SECTION 6.10 No Petition Covenant. Notwithstanding any prior termination of this Agreement, the Seller shall not, prior to the date
which is one year and one day after the final distribution with respect to the Notes to the Note Distribution Account or, with respect to the Certificates, to the Certificateholder or the Certificate Distribution Account, acquiesce, petition or
otherwise invoke or cause Ally Auto or the Issuing Entity to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against Ally Auto or the Issuing Entity under any federal or State bankruptcy,
insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of Ally Auto or the Issuing Entity or any substantial part of the property of either of them, or ordering the
winding up or liquidation of the affairs of Ally Auto or the Issuing Entity under any federal or State bankruptcy or insolvency proceeding. 

SECTION 6.11 Limitations on Rights of Others. The provisions of this Agreement and the First Step Receivables Assignment are solely for
the benefit of the Seller and Ally Auto and, to the extent expressly provided herein, the Interested Parties, and nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right,
remedy or claim in, under or in respect of this Agreement or any covenants, conditions or provisions contained herein. 
 SECTION 6.12
Merger and Consolidation of the Seller or Ally Auto. Any corporation, limited liability company or other entity (i) into which either of the Seller or Ally Auto may be merged or consolidated, (ii) resulting from any merger or
consolidation to which either of the Seller or Ally Auto shall be a party, (iii) succeeding to the business of either of the Seller or Ally Auto or (iv) 25% or more of the voting stock (or, if not a corporation, other voting interests) of which
is owned, directly or indirectly, by General Motors or Ally Financial, which corporation, limited liability company or other entity in any of the foregoing cases executes an agreement of assumption to perform every obligation of the Seller or Ally
Auto (as applicable) under this Agreement and the other Basic Documents shall be the successor to the Seller or Ally Auto (as applicable) under this Agreement and the other Basic Documents without the execution or filing of any document or any
further act on the part of any of the parties to this Agreement. 
 SECTION 6.13 Assignment. Notwithstanding anything to the contrary
contained in this Agreement, this Agreement may be assigned by the Seller or Ally Auto without the consent of any other Person to a corporation, limited liability company or other entity that is a 

  
 14 

 
successor (by merger, consolidation or purchase of assets) to the Seller or Ally Auto (as applicable), or 25% or more of the voting interests of which is owned, directly or indirectly, by General
Motors or by Ally Financial, provided that the assignee of Ally Auto executes an agreement of assumption, as provided in Section 3.03(a) of the Trust Sale Agreement. 

SECTION 6.14 Official Record. This Agreement is, and the Seller agrees to maintain this Agreement from and after the date hereof as, an
official record (within the meaning of Section 13(e) of the Federal Deposit Insurance Act) of the Seller. 

*    *    *    *    * 

  
 15 

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

			
	ALLY BANK
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	ALLY AUTO ASSETS LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

 EXHIBIT A 

FORM OF 
 FIRST STEP RECEIVABLES
ASSIGNMENT 
 PURSUANT TO THE POOLING AGREEMENT 

For value received, in accordance with the Pooling Agreement, dated as of February 13, 2019 (the “Pooling Agreement”),
between Ally Bank, a Utah chartered bank (the “Seller”), and Ally Auto Assets LLC, a Delaware limited liability company (“Ally Auto”), the Seller does hereby sell, assign, transfer and otherwise convey unto Ally
Auto, without recourse, as of February 13, 2019, (i) all right, title and interest of the Seller in, to and under the Receivables listed on the Schedule of Receivables attached as Schedule A hereto and all monies received thereon on and
after the [Substitute] Cutoff Date, exclusive of any amounts allocable to the premium for physical damage collateral protection insurance required by the Seller or the Servicer covering any related Financed Vehicle; (ii) the interest of the
Seller in the security interests in the Financed Vehicles granted by Obligors pursuant to the Receivables and, to the extent permitted by law, any accessions thereto; (iii) the interest of the Seller in any proceeds from claims on any physical
damage, credit life, credit disability or other insurance policies covering the related Financed Vehicles or Obligors; (iv) the interest of the Seller in any proceeds from recourse against Dealers on the Receivables; (v) all right, title
and interest of the Seller in, to and under the First Step Receivables Assignment; and (vi) all present and future claims, demands, causes and choses in action in respect of any or all the foregoing described in clauses (i), (ii), (iii), (iv)
and (v) above and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all the foregoing, including all proceeds of the conversion of any or all of the foregoing, voluntary or involuntary, into cash
or other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance proceeds, investment property, payment intangibles, general intangibles, condemnation awards,
rights to payment of any and every kind and other forms of obligations and receivables, instruments and other property which at any time constitute all or part of or are included in the proceeds of any of the foregoing. 

It is the intention of the Seller and Ally Auto that the sale, transfer, assignment and other conveyances of the Receivables contemplated by
the Pooling Agreement and this First Step Receivables Assignment shall constitute a sale of the Receivables from the Seller to Ally Auto and the beneficial interest in and title to the Receivables shall not be part of the Seller’s estate in the
event of the filing of a petition for insolvency, receivership or conservatorship by or against the Seller or placement into receivership or conservatorship of the Seller under any relevant bankruptcy, insolvency, receivership or conservatorship
law. 
 The foregoing sale, transfer, assignment and other conveyances of the Receivables contemplated by the Pooling Agreement and this
First Step Receivables Assignment do not constitute and are not intended to result in the creation of or an assumption by Ally Auto of any obligation of the undersigned to the Obligors, Dealers, insurers or any other Person in connection with the
Receivables, any Dealer Agreements, any insurance policies or any other agreement or instrument relating to any of them. 

  
 A-1 

 [For purposes of this First Step Receivables Assignment, the Substitute Cutoff Date shall be
[            ], 20[      ].] 
 This
First Step Receivables Assignment is made pursuant to and upon the representations, warranties and agreements on the part of the undersigned contained in the Pooling Agreement and is to be governed by the Pooling Agreement. 

Capitalized terms used herein and not otherwise defined herein shall have the meaning assigned to them in the Pooling Agreement. 

*    *    *    *    * 

  
 A-2 

 IN WITNESS WHEREOF, the undersigned has caused this First Step Receivables Assignment to be duly executed as
of the day and year first above written. 
  

			
	ALLY BANK
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 A-3 

 SCHEDULE A 

SCHEDULE OF RECEIVABLES 

The Schedule of Receivables is 

on file at the offices of: 
  

	1.	 The Indenture Trustee 

 

	2.	 The Owner Trustee 

  

	3.	 The Servicer 

  

	4.	 The Seller 

  

	5.	 Ally Auto Assets LLC 

  
 Schedule A 

 APPENDIX A 

Part I 
 For ease of reference,
capitalized terms defined herein have been consolidated with and are contained in Part I of Appendix A to the Servicing Agreement of even date herewith among Ally Bank, Ally Auto Assets LLC and Ally Auto Receivables Trust 2019-1, as amended and supplemented from time to time. 
 Part II 

For ease of reference, the rules of construction have been consolidated with and are contained in Part II of Appendix A to the Servicing
Agreement of even date herewith among Ally Bank, Ally Auto Assets LLC and Ally Auto Receivables Trust 2019-1, as amended and supplemented from time to time. 

Part III 
 For ease of reference,
the notice addresses and procedures have been consolidated with and are contained in Appendix B to the Servicing Agreement of even date herewith among Ally Bank, Ally Auto Assets LLC and Ally Auto Receivables Trust 2019-1, as amended and supplemented from time to time. 

  
 Appendix A 

 APPENDIX B 

Additional Representations and Warranties 
  

	1.	 While it is the intention of the Seller and Ally Auto that the transfer and assignment contemplated by this
Agreement and the First Step Receivables Assignment shall constitute sales of the Purchased Property from the Seller to Ally Auto, this Agreement, the Trust Sale Agreement and the Indenture create a valid and continuing security interest (as defined
in the applicable UCC) in the Purchased Property in favor of Ally Auto, the Trust and the Indenture Trustee, as applicable, which security interest is prior to all other Liens, and is enforceable as such as against creditors of and purchasers from
the Seller, Ally Auto and the Issuing Entity, respectively. 

  

	2.	 All steps necessary to perfect the Seller’s security interest against each Obligor in the property
securing the Purchased Property have been taken. 

  

	3.	 Prior to the sale of the Purchased Property to Ally Auto under this Agreement, the Receivables constitute
“tangible chattel paper” or “electronic chattel paper” within the meaning of the applicable UCC. 

  

	4.	 The Seller owns and has good and marketable title to the Purchased Property free and clear of any Lien, claim
or encumbrance of any Person. 

  

	5.	 The Seller has caused or will have caused, within ten (10) days, the filing of all appropriate financing
statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the security interest in the Purchased Property granted to Ally Auto hereunder, the Issuing Entity under the Trust Sale Agreement and
the Indenture Trustee under the Indenture. 

  

	6.	 Other than the security interest granted to Ally Auto pursuant to the Basic Documents, the Issuing Entity under
the Trust Sale Agreement and the Indenture Trustee under the Indenture none of the Seller, Ally Auto or the Issuing Entity has pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Purchased Property. None of the
Seller, Ally Auto or the Issuing Entity has authorized the filing of, nor is the Seller aware of, any financing statements against the Seller, Ally Auto or the Issuing Entity that include a description of collateral covering the Purchased Property
other than the financing statements relating to the security interests granted to Ally Auto, the Issuing Entity and the Indenture Trustee under the Basic Documents or any financing statement that has been terminated. The Seller is not aware of any
judgment or tax lien filings against the Seller, Ally Auto or the Issuing Entity. 

  

	7.	 The Custodian has in its possession or with third party vendors all original copies (or, with respect to
Receivables that are “electronic chattel paper,” authoritative copies) of the Receivables Files and other documents that constitute or evidence the Receivables and the Purchased Property. The Receivables Files and other documents that
constitute or evidence the Receivables that are “tangible chattel paper” do not have any marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person other than Ally Auto. All financing statements
filed or to be filed against the 

  
 Appendix B-1 

	 	
Seller in favor of Ally Auto in connection herewith describing the Receivables contain a statement to the following effect: “A purchase of or security interest in any collateral described in
this financing statement will violate the rights of Ally Auto.” 

  
 Appendix B-2

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