Document:

EX-4.2

 Exhibit 4.2 

INDENTURE 
 between 

CALIFORNIA REPUBLIC AUTO RECEIVABLES TRUST 2015-2, 

as Issuer, 
 and 

DEUTSCHE BANK TRUST COMPANY AMERICAS, 

as Indenture Trustee 
 Dated as of
June 1, 2015 

 CROSS REFERENCE TABLE* 
  

			
	TIA Section	  	Indenture Section
	 310 (a)(1)
	  	6.11
	 (a)(2)
	  	6.11
	 (a)(3)
	  	6.10; 6.11
	 (a)(4)
	  	N.A.**
	 (a)(5)
	  	6.11
	 (b)
	  	6.08; 6.11
	 311 (a)
	  	6.16
	 (b)
	  	6.16
	 312 (a)
	  	7.01; 7.02
	 (b)
	  	7.02
	 (c)
	  	7.02
	 313 (a)
	  	7.05
	 (b)(1)
	  	7.05
	 (b)(2)
	  	7.05
	 (c)
	  	7.05; 11.05
	 (d)
	  	7.05
	 314 (a)
	  	3.09; 7.06
	 (b)
	  	3.06; 11.14
	 (c)(1)
	  	11.01
	 (c)(2)
	  	11.01
	 (c)(3)
	  	11.01
	 (d)
	  	11.01
	 (e)
	  	11.01
	 (f)
	  	11.01
	 315 (a)
	  	6.01

  
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	TIA Section	  	Indenture Section
	 (b)
	  	6.05; 11.01
	 (c)
	  	6.01
	 (d)
	  	6.01
	 (e)
	  	5.13
	 316(a)

(a)(1)(A)
	  	1.01
 5.11

	 (a)(1)(B)
	  	5.12
	 (a)(2)
	  	N.A.
	 (b)
	  	5.07
	 (c)
	  	N.A.
	 317 (a)(1)
	  	5.03
	 (a)(2)
	  	5.03
	 (b)
	  	3.03
	 318 (a)
	  	11.25

  

	*	This Cross Reference Table shall not, for any purpose, be deemed to be part of this Indenture. 

	**	N.A. means Not Applicable. 

  
 ii 

 Table of Contents 

 

							
	 	 	 	  	Page	 
	 ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	2	  
			
	 Section 1.01
	 	Definitions	  	 	2	  
	 Section 1.02
	 	Incorporation by Reference of Trust Indenture Act	  	 	2	  
		
	 ARTICLE II THE NOTES
	  	 	2	  
			
	 Section 2.01
	 	Form; Denomination	  	 	2	  
	 Section 2.02
	 	Execution, Authentication and Delivery	  	 	3	  
	 Section 2.03
	 	Temporary Notes	  	 	3	  
	 Section 2.04
	 	Registration; Registration of Transfer and Exchange	  	 	4	  
	 Section 2.05
	 	Mutilated, Destroyed, Lost or Stolen Notes	  	 	5	  
	 Section 2.06
	 	Persons Deemed Owners	  	 	6	  
	 Section 2.07
	 	Payment of Principal and Interest	  	 	6	  
	 Section 2.08
	 	Cancellation	  	 	7	  
	 Section 2.09
	 	Tax Treatment; Withholding	  	 	7	  
	 Section 2.10
	 	[Reserved]	  	 	9	  
	 Section 2.11
	 	Book-Entry Notes	  	 	9	  
	 Section 2.12
	 	Notices to Depository	  	 	9	  
	 Section 2.13
	 	Definitive Notes	  	 	10	  
	 Section 2.14
	 	Depositor as Noteholder	  	 	10	  
	 Section 2.15
	 	[Reserved]	  	 	10	  
	 Section 2.16
	 	Additional Transfer Restrictions	  	 	10	  
	 Section 2.17
	 	ERISA	  	 	10	  
		
	 ARTICLE III COVENANTS
	  	 	11	  
			
	 Section 3.01
	 	Payment of Principal and Interest	  	 	11	  
	 Section 3.02
	 	Maintenance of Office or Agency	  	 	11	  
	 Section 3.03
	 	Money for Payments to Be Held in Trust	  	 	11	  
	 Section 3.04
	 	Existence	  	 	13	  
	 Section 3.05
	 	Protection of Collateral; Manner of Perfection	  	 	13	  
	 Section 3.06
	 	Opinions as to Collateral	  	 	15	  
	 Section 3.07
	 	Performance of Obligations; Servicing of Receivables	  	 	15	  
	 Section 3.08
	 	Negative Covenants	  	 	16	  
	 Section 3.09
	 	Annual Statement as to Compliance	  	 	17	  
	 Section 3.10
	 	Issuer May Not Merge or Consolidate	  	 	17	  
	 Section 3.11
	 	No Other Business	  	 	17	  
	 Section 3.12
	 	No Borrowing	  	 	18	  
	 Section 3.13
	 	Servicer’s Obligations	  	 	18	  
	 Section 3.14
	 	Guarantees, Loans, Advances and Other Liabilities	  	 	18	  
	 Section 3.15
	 	Capital Expenditures	  	 	18	  
	 Section 3.16
	 	Removal of Administrator	  	 	18	  

  
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	 	 	 	  	Page	 
	 Section 3.17
	 	Restricted Payments	  	 	18	  
	 Section 3.18
	 	Notice of Events of Default	  	 	18	  
	 Section 3.19
	 	Further Instruments and Acts	  	 	18	  
	 Section 3.20
	 	Compliance with Laws	  	 	18	  
	 Section 3.21
	 	Amendments to Sale and Servicing Agreement	  	 	19	  
		
	 ARTICLE IV SATISFACTION AND DISCHARGE
	  	 	19	  
			
	 Section 4.01
	 	Satisfaction and Discharge of Indenture	  	 	19	  
	 Section 4.02
	 	Application of Trust Money	  	 	20	  
	 Section 4.03
	 	Repayment of Moneys Held by Paying Agent	  	 	20	  
	 Section 4.04
	 	Release of Collateral	  	 	20	  
	 Section 4.05
	 	Satisfaction, Discharge and Defeasance of the Notes	  	 	20	  
		
	 ARTICLE V EVENTS OF DEFAULT; REMEDIES
	  	 	21	  
			
	 Section 5.01
	 	Events of Default	  	 	21	  
	 Section 5.02
	 	Acceleration of Maturity; Rescission and Annulment	  	 	22	  
	 Section 5.03
	 	Collection of Indebtedness and Suits for Enforcement by Indenture Trustee; Authority of the Controlling Class	  	 	23	  
	 Section 5.04
	 	Remedies; Priorities	  	 	25	  
	 Section 5.05
	 	Optional Preservation of the Collateral	  	 	27	  
	 Section 5.06
	 	Limitation of Suits	  	 	28	  
	 Section 5.07
	 	Unconditional Rights of Noteholders to Receive Principal and Interest	  	 	28	  
	 Section 5.08
	 	Restoration of Rights and Remedies	  	 	29	  
	 Section 5.09
	 	Rights and Remedies Cumulative	  	 	29	  
	 Section 5.10
	 	Delay or Omission Not a Waiver	  	 	29	  
	 Section 5.11
	 	Control by Controlling Class	  	 	29	  
	 Section 5.12
	 	Waiver of Past Defaults	  	 	30	  
	 Section 5.13
	 	Undertaking for Costs	  	 	30	  
	 Section 5.14
	 	Waiver of Stay or Extension Laws	  	 	30	  
	 Section 5.15
	 	Action on Notes	  	 	30	  
	 Section 5.16
	 	Performance and Enforcement of Certain Obligations	  	 	31	  
		
	 ARTICLE VI THE INDENTURE TRUSTEE
	  	 	32	  
			
	 Section 6.01
	 	Duties of Indenture Trustee	  	 	32	  
	 Section 6.02
	 	Rights of Indenture Trustee	  	 	33	  
	 Section 6.03
	 	Individual Rights of Indenture Trustee	  	 	35	  
	 Section 6.04
	 	Indenture Trustee’s Disclaimer	  	 	35	  
	 Section 6.05
	 	Notice of Defaults; Repurchase Requests	  	 	35	  
	 Section 6.06
	 	Reports by Indenture Trustee to Holders	  	 	36	  
	 Section 6.07
	 	Compensation and Indemnity	  	 	36	  
	 Section 6.08
	 	Replacement of Indenture Trustee	  	 	37	  
	 Section 6.09
	 	Successor Indenture Trustee by Merger	  	 	38	  

  
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	 	 	 	  	Page	 
	 Section 6.10
	 	Appointment of Co-Indenture Trustee or Separate Indenture Trustee	  	 	39	  
	 Section 6.11
	 	Corporate Indenture Trustee Requirements; Eligibility	  	 	40	  
	 Section 6.12
	 	Waiver of Setoffs	  	 	40	  
	 Section 6.13
	 	Indenture Trustee as Securities Intermediary	  	 	40	  
	 Section 6.14
	 	Representations and Warranties of the Indenture Trustee	  	 	41	  
	 Section 6.15
	 	Exchange Act Rule 17g-5 Procedures	  	 	41	  
	 Section 6.16
	 	Preferential Collection Claims Against Issuer	  	 	42	  
		
	 ARTICLE VII NOTEHOLDERS’ LISTS AND REPORTS
	  	 	42	  
			
	 Section 7.01
	 	Issuer to Furnish Indenture Trustee Names and Addresses of Noteholders	  	 	42	  
	 Section 7.02
	 	Preservation of Information; Communications to Noteholders	  	 	42	  
	 Section 7.03
	 	Noteholder Lists	  	 	42	  
	 Section 7.04
	 	Access to Certain Documentation and Information	  	 	43	  
	 Section 7.05
	 	Reports by Indenture Trustee	  	 	43	  
	 Section 7.06
	 	Reports by Issuer	  	 	43	  
		
	 ARTICLE VIII ACCOUNTS, DISBURSEMENTS AND RELEASES
	  	 	44	  
			
	 Section 8.01
	 	Collection of Money	  	 	44	  
	 Section 8.02
	 	Trust Accounts: Payment of Principal and Interest	  	 	44	  
	 Section 8.03
	 	General Provisions Regarding Trust Accounts	  	 	45	  
	 Section 8.04
	 	Release of Collateral	  	 	45	  
	 Section 8.05
	 	Opinion of Counsel and Officer’s Certificate	  	 	46	  
		
	 ARTICLE IX SUPPLEMENTAL INDENTURES
	  	 	46	  
			
	 Section 9.01
	 	Supplemental Indentures With Consent of the Noteholders	  	 	46	  
	 Section 9.02
	 	Supplemental Indentures Without Consent of Noteholders	  	 	48	  
	 Section 9.03
	 	Execution of Supplemental Indentures	  	 	49	  
	 Section 9.04
	 	Effect of Supplemental Indentures	  	 	50	  
	 Section 9.05
	 	Reference in Notes to Supplemental Indentures	  	 	50	  
	 Section 9.06
	 	Conformity with Trust Indenture Act	  	 	50	  
		
	 ARTICLE X REDEMPTION OF NOTES
	  	 	50	  
			
	 Section 10.01
	 	Redemption In Whole	  	 	50	  
	 Section 10.02
	 	Form of Redemption Notice	  	 	51	  
	 Section 10.03
	 	Notes Payable on Redemption Date	  	 	51	  
		
	 ARTICLE XI MISCELLANEOUS
	  	 	52	  
			
	 Section 11.01
	 	Compliance Certificates and Opinions, Etc.	  	 	52	  
	 Section 11.02
	 	Form of Documents Delivered to Indenture Trustee	  	 	53	  
	 Section 11.03
	 	Acts of Noteholders	  	 	54	  

  
 iii 

							
	 	 	 	  	Page	 
	 Section 11.04
	 	Notices, etc., to Indenture Trustee, Issuer, Depositor and Rating Agencies	  	 	54	  
	 Section 11.05
	 	Notices to Noteholders; Waiver	  	 	55	  
	 Section 11.06
	 	Alternate Payment and Notice Provisions	  	 	56	  
	 Section 11.07
	 	Effect of Headings and Table of Contents	  	 	56	  
	 Section 11.08
	 	Successors and Assigns	  	 	56	  
	 Section 11.09
	 	Severability	  	 	56	  
	 Section 11.10
	 	Benefits of Indenture	  	 	56	  
	 Section 11.11
	 	Legal Holidays	  	 	57	  
	 Section 11.12
	 	GOVERNING LAW	  	 	57	  
	 Section 11.13
	 	Counterparts	  	 	57	  
	 Section 11.14
	 	Recording of Indenture	  	 	57	  
	 Section 11.15
	 	Trust Obligation	  	 	57	  
	 Section 11.16
	 	No Petition	  	 	57	  
	 Section 11.17
	 	Inspection	  	 	58	  
	 Section 11.18
	 	Limitation of Liability	  	 	58	  
	 Section 11.19
	 	WAIVER OF JURY TRIAL	  	 	58	  
	 Section 11.20
	 	Force Majeure	  	 	59	  
	 Section 11.21
	 	PATRIOT Act	  	 	59	  
	 Section 11.22
	 	Submission to Jurisdiction	  	 	59	  
	 Section 11.23
	 	No Partnership or Joint Venture	  	 	59	  
	 Section 11.24
	 	No Waiver; Cumulative Remedies	  	 	60	  
	 Section 11.25
	 	Conflicts with Trust Indenture Act	  	 	60	  
	 Section 11.26
	 	No Recourse	  	 	60	  
		
	 ARTICLE XII COMPLIANCE WITH THE FDIC RULE
	  	 	60	  
			
	 Section 12.01
	 	Purpose.	  	 	60	  
	 Section 12.02
	 	Requirements of FDIC Rule.	  	 	61	  
	 Section 12.03
	 	Performance	  	 	63	  
	 Section 12.04
	 	Effect of Section 941 Rules	  	 	63	  
	 Section 12.05
	 	Actions Upon Repudiation	  	 	63	  
	 Section 12.06
	 	Notice	  	 	65	  
	 Section 12.07
	 	Reservation of Rights	  	 	66	  

  

							
	 EXHIBIT A-1
	  	Form of Class A-1 Note	  	 	A-1-1	  
	 EXHIBIT A-2
	  	Form of Class [A-2/A-3/A-4/B/C] Note	  	 	A-2-1	  
	 EXHIBIT C-1
	  	Form of Non-U.S. Beneficial Ownership Certification by Euroclear or Clearstream Bank, société anonyme	  	 	C-1-1	  
	 EXHIBIT C-2
	  	Form of Non-U.S. Beneficial Ownership Certification by Member Organization	  	 	C-2-1	  
	 EXHIBIT D
	  	Form of Repurchase Request Notice	  	 	D-1	  

  
 iv 

 THIS INDENTURE, dated as of June 1, 2015, is between CALIFORNIA REPUBLIC AUTO RECEIVABLES
TRUST 2015-2, a Delaware statutory trust (the “Issuer”), and DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York banking corporation, as trustee and not in its individual capacity (the “Indenture Trustee”). 

Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Issuer’s
0.39000% Class A-1 Asset Backed Notes (the “Class A-1 Notes”), 0.88% Class A-2 Asset Backed Notes (the “Class A-2 Notes”), 1.31% Class A-3 Asset Backed Notes (the “Class A-3 Notes”),
1.75% Class A-4 Asset Backed Notes (the “Class A-4 Notes”), 2.53% Class B Asset Backed Notes (the “Class B Notes”) and 3.62% Class C Asset Backed Notes (the “Class C Notes”)
(the Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes, each a “Note” and collectively, the “Notes”): 

GRANTING CLAUSE 
 The Issuer
hereby Grants to the Indenture Trustee on the Closing Date, as Indenture Trustee for the benefit of the Holders of the Notes, all (without duplication) of the Issuer’s right, title and interest in and to all accounts, payment intangibles and
other general intangibles, chattel paper, instruments, documents, money, deposit accounts, certificates of deposit, goods, letters of credit, advices of credit and Investment Property and all other tangible and intangible property (together with all
related supporting obligations and proceeds), whether now owned or hereafter acquired and whether now existing or hereafter coming into existence, including: (i) the Depositor Conveyed Assets, (ii) all funds on deposit from time to time in
the Trust Accounts, the Certificate Distribution Account (as defined in the Trust Agreement) and any other accounts established pursuant to this Indenture, the Trust Agreement, or the Sale and Servicing Agreement, and all cash, investment property
and other property from time to time credited thereto and all proceeds thereof (including all Net Investment Earnings thereon); (iii) all Securities Accounts and all security entitlements with respect to Financial Assets credited to any
Securities Account; (iv) all rights under the Sale and Servicing Agreement; (v) all enforcement and other rights under the UCC and other Applicable Law in respect of any or all of the foregoing; (vi) all present and future claims,
demands, causes of action and choses in action in respect of any or all of the foregoing; and (vii) the proceeds of or with respect to any and all of the foregoing (collectively, the “Collateral”). It is understood and agreed
that the foregoing Grant is intended to cover property owned by the Issuer at the Closing Date. 
 The foregoing Grant is made in trust to
secure the payment of principal of and interest on, and any other amounts owing in respect of, the Notes, equally and ratably without prejudice, priority or distinction, except as otherwise provided in this Indenture and the other Basic Documents.
to secure compliance with the provisions of this Indenture and the Sale and Servicing Agreement for the benefits of the Noteholders, all as provided in this Indenture. 

The Indenture Trustee, on behalf of the Holders of the Notes, acknowledges such Grant, accepts the trusts under this Indenture in accordance
with the provisions of this Indenture and agrees to perform its duties required in this Indenture to the best of its ability to the end that the interests of the Holders of the Notes may be adequately and effectively protected. The Issuer hereby
authorizes the filing of a financing statement against the Issuer describing the Collateral as constituting all assets of the Issuer as debtor, whether now owned or existing or hereafter acquired or arising and wheresoever located. 

 This Indenture shall be deemed to be and hereby is a security agreement within the meaning of the
UCC as in effect in the State of New York. 
 ARTICLE I 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01 Definitions. Capitalized terms not defined in this Agreement have the meanings assigned thereto in Appendix A to that
certain Sale and Servicing Agreement, dated as of June 1, 2015, by and among the Issuer, the Indenture Trustee, California Republic Funding, LLC, and California Republic Bank. 

Section 1.02 Incorporation by Reference of Trust Indenture Act. Whenever this Indenture refers to a provision of the TIA, that
provision is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture have the following meanings: 

“indenture securities” means the Notes. 

“indenture security holder” means a Noteholder. 

“indenture to be qualified” means this Indenture. 

“indenture trustee” or “institutional trustee” means the Indenture Trustee. 

“obligor” on the indenture securities means the Issuer and any other obligor on the indenture securities. 

All other TIA terms used in this Indenture that are defined in the TIA, defined by TIA reference to another statute or defined by Commission rule have the
meaning assigned to them by such definitions. 
 ARTICLE II 

THE NOTES 
 Section 2.01
Form; Denomination. The Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes, in each case together with the Indenture Trustee’s certificate of authentication,
shall be in substantially the form set forth in Exhibit A-1 or Exhibit A-2, as applicable, with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have
such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may, consistently herewith, be determined by the officers executing the Notes, as evidenced by their execution of the Notes. Any portion of the
text of any Note may be set forth on the reverse thereof, with an appropriate reference thereto on the face of such Note. 

  
 2 

 Each Note shall be dated the date of its authentication. The terms of the Notes set forth in
Exhibit A-1 and Exhibit A-2 are part of the terms of this Indenture. 
 The Notes shall be issuable as registered Notes in
minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except that on the Closing Date one Note of each Class of Notes may be issued in a denomination other than an integral multiple of $1,000). 

Section 2.02 Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized
Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. 
 Notes bearing the manual or facsimile
signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or
did not hold such offices at the date of such Notes. 
 The Indenture Trustee shall, upon receipt of an Issuer Order, authenticate and
deliver Notes for original issue in an aggregate principal amount of $54,300,000 with respect to the Class A-1 Notes, $100,000,000 with respect to the Class A-2 Notes, $104,000,000 with respect to the Class A-3 Notes, $99,330,000 with
respect to the Class A-4 Notes, $22,230,000 with respect to the Class B Notes and $10,140,000 with respect to the Class C Notes. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes,
Class A-4 Notes, Class B Notes and Class C Notes, as the case may be, outstanding at any time may not exceed the respective amounts set forth above with respect to such Classes of Notes, except as otherwise provided in
Section 2.05. 
 No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there
appears on such Note a certificate of authentication executed by the Indenture Trustee by the manual signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such
Note has been duly authenticated and delivered hereunder. 
 Section 2.03 Temporary Notes. 

(a) Pending the preparation of Definitive Notes, if any, to be issued in exchange for Book-Entry Notes, the Issuer may execute, and upon
receipt of an Issuer Order the Indenture Trustee shall authenticate and deliver, such temporary Notes which are printed, lithographed, typewritten, mimeographed or otherwise produced, of the tenor of the Definitive Notes in lieu of which they are
issued and with such variations as are not inconsistent with the terms of this Indenture as the officers executing such Notes may determine, as evidenced by their execution of such Notes. 

(b) If temporary Notes are issued, the Issuer shall cause Definitive Notes to be prepared without unreasonable delay. After the preparation of
Definitive Notes, the temporary Notes shall be exchangeable for Definitive Notes upon surrender of the temporary Notes at the Agency Office, without charge to the surrendering Noteholder. Upon surrender for cancellation of any one or more temporary
Notes, the Issuer shall execute and the Indenture Trustee shall authenticate and deliver in exchange therefor a like principal amount of Definitive Notes of the 

  
 3 

 
same Class or Classes and authorized denominations. Until so delivered in exchange, the temporary Notes shall in all respects be entitled to the same benefits under this Indenture as Definitive
Notes. 
 Section 2.04 Registration; Registration of Transfer and Exchange. 

(a) The Issuer shall cause to be kept a register, comprising separate registers for each Class of Notes, in which, subject to such reasonable
regulations as the Issuer may prescribe, the Issuer shall provide for the registration of the Notes and the registration of transfers and exchanges of the Notes (the “Register”). The Indenture Trustee shall initially be the
Registrar for the purpose of registering the Notes and transfers of the Notes as herein provided. Upon any resignation of any Registrar, the Issuer shall promptly appoint a successor Registrar or, if it elects not to make such an appointment, assume
the duties of the Registrar. Notwithstanding anything to the contrary contained herein, the Registrar shall know only the Person in whose name a Note is registered in the Register, and the obligations of the Indenture Trustee (in its capacity as
paying agent or otherwise) and the Registrar shall run only to such Persons. 
 (b) If a Person other than the Indenture Trustee is
appointed by the Issuer as Registrar, the Issuer shall give the Indenture Trustee prompt written notice of the appointment of such Registrar and of the location, and any change in the location, of the Register. The Indenture Trustee shall have the
right to inspect the Register at all reasonable times and to obtain copies thereof. The Indenture Trustee shall have the right to fully rely upon a certificate executed on behalf of the Registrar by an authorized officer thereof as to the names and
addresses of the Noteholders and the principal amounts and number of such Notes until such time as an updated certificate is provided by the Registrar to the Indenture Trustee at which time it will be entitled to fully rely on such replacement
certificate. 
 (c) Upon surrender for registration of transfer of any Note at the Corporate Trust Office of the Indenture Trustee or the
Agency Office (and following the delivery, in the former case, of such Notes to the Issuer by the Indenture Trustee), the Issuer shall execute, the Indenture Trustee shall authenticate and the Noteholder shall obtain from the Indenture Trustee, in
the name of the designated transferee or transferees, one or more new Notes of the same Class in any authorized denominations of a like aggregate principal amount. 

(d) At the option of the Noteholder, Notes may be exchanged for other Notes of the same Class in any authorized denominations, of a like
aggregate principal amount and upon surrender of such Notes to be exchanged at the Corporate Trust Office of the Indenture Trustee or the Agency Office (and following the delivery, in the former case, of Notes to the Issuer by the Indenture
Trustee), the Issuer shall execute, and the Indenture Trustee shall authenticate and the Noteholder shall obtain from the Indenture Trustee, such Notes which the Noteholder making the exchange is entitled to receive. 

(e) All Notes issued upon any registration of transfer or exchange of other Notes shall be the valid obligations of the Issuer, evidencing the
same debt, and entitled to the same benefits under this Indenture, as the Notes surrendered upon such registration of transfer or exchange. 

  
 4 

 (f) Every Note presented or surrendered for registration of transfer or exchange shall be duly
endorsed by, or be accompanied by a written instrument of transfer in form satisfactory to the Indenture Trustee and the Registrar, duly executed by the Holder thereof or such Holder’s attorney duly authorized in writing, with such signature
guaranteed by a commercial bank or trust company. 
 (g) No service charge shall be made to a Holder for any registration of transfer or
exchange of Notes, but the Issuer or Indenture Trustee may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Notes, other than
exchanges pursuant to Section 2.03(b) or Section 9.05 not involving any transfer. 
 (h) The preceding provisions of this
Section 2.04 notwithstanding, the Issuer shall not be required to transfer or make exchanges, and the Registrar need not register transfers or exchanges, (i) of Notes that are due for repayment within fifteen (15) days of submission
to the Corporate Trust Office or the Agency Office or (ii) of Notes selected for redemption. 
 (i) Neither the Indenture Trustee nor
the Registrar shall have any responsibility to monitor or restrict the transfer of beneficial ownership in any Note an interest in which is transferable through the facilities of the Depository. In addition, neither the Indenture Trustee nor the
Registrar shall have any obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under Applicable Law with respect to any transfer of any interest in any Note other than
to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to
form with the express requirements hereof. 
 Section 2.05 Mutilated, Destroyed, Lost or Stolen Notes. If (i) any mutilated
Note is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or wrongful taking of any Note, and (ii) there is delivered to the Issuer, Registrar and Indenture Trustee
such security or indemnity as may be reasonably required by it to hold the Issuer, Registrar and the Indenture Trustee, respectively, harmless, then, in the absence of notice to the Issuer, the Registrar or the Indenture Trustee that such Note has
been acquired by a Protected Purchaser, and provided that the requirements of Section 8-405 of the UCC are met, the Issuer shall execute, and the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such
mutilated, destroyed, lost or wrongfully taken Note, a replacement Note of like tenor and principal amount; provided, however, that if any such destroyed, lost or wrongfully taken Note, but not a mutilated Note, shall have become or within fifteen
(15) days shall be due and payable, or shall have been called for redemption, instead of issuing a replacement Note, the Issuer may pay such destroyed, lost or stolen Note when so due or payable or upon the Redemption Date without surrender
thereof. If, after the delivery of such replacement Note or payment of a destroyed, lost or wrongfully taken Note, a Protected Purchaser of the original Note in lieu of which such replacement Note was issued presents for payment such original Note,
the Issuer and the Indenture Trustee shall be entitled to recover such replacement Note (or such payment) from the Person to whom it was delivered or any Person taking such replacement Note from such Person to whom such replacement Note 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 Issuer or the Indenture
Trustee in connection therewith. 

  
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 Upon the issuance of any replacement Note under this Section 2.05, the Issuer may require
the payment by the Holder of such Note 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 Indenture Trustee or the
Registrar) connected therewith. 
 Every replacement Note issued pursuant to this Section 2.05 in replacement of any mutilated,
destroyed, lost or wrongfully taken Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or wrongfully taken Note shall be at any time enforceable by anyone, and shall be
entitled to all of the benefits of this Indenture equally and proportionately with any and all other Notes duly issued hereunder. 
 The
provisions of this Section 2.05 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 Notes. 

Section 2.06 Persons Deemed Owners. Prior to due presentment for registration of transfer of any Note, the Issuer, the Indenture
Trustee, the Registrar and any agent of the Issuer, the Indenture Trustee or the Registrar may treat the Person in whose name any Note is registered (as of the day of determination) as the owner of such Note for the purpose of receiving payments of
principal of and interest, if any, on such Note and for all other purposes whatsoever, whether or not such Note be overdue, and none of the Issuer, the Indenture Trustee, the Registrar or any agent of the Issuer, the Registrar or the Indenture
Trustee shall be affected by notice to the contrary. 
 Section 2.07 Payment of Principal and Interest. The Notes shall accrue
interest during each Interest Period at the applicable Interest Rate, calculated in accordance with the terms of the Notes, and shall be payable from amounts deposited in the Collection Account in accordance with Section 5.04(a) of the Sale and
Servicing Agreement or Section 5.04(b) hereof. Interest accrued on the Notes during an Interest Period shall be due and payable on the related Payment Date. 

(a) The principal of the Notes will be due and payable in accordance with Section 5.04(b) of the Sale and Servicing Agreement or
Section 5.04(b) hereof. The principal of the Notes shall also be due and payable as follows: (i) on the Redemption Date, in an amount equal to the outstanding Note Balance, (ii) on the date of acceleration of the maturity of the Notes
pursuant to Section 5.02 in the amount of the outstanding Note Balance and (iii) to the extent any Class of Notes remain and have not been paid prior to such date, on the related Final Scheduled Payment Date for such Class of Notes in an
amount equal to the outstanding Note Balance of such Class of Notes. 
 (b) Any installment of interest or principal payable with respect to
a Note that is punctually paid or duly provided for by the Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note is registered on the Record Date, by wire transfer of immediately available funds to the account of
any such Noteholder at a bank or other entity 

  
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having appropriate facilities therefor, if such Noteholder shall have provided the Indenture Trustee with wiring instructions no less than two (2) Business Days prior to the related
Record Date (which wiring instructions may be in the form of a standing order applicable to all subsequent Payment Dates), or otherwise by check mailed to the address of such Noteholder as it appears in the Register; provided, however, that with
respect to Book-Entry Notes registered on the applicable Record Date in the name of the nominee of the Depository (initially, such nominee to be Cede & Co.) for which Definitive Notes have not been issued pursuant to Section 2.13,
payment shall be made by wire transfer in immediately available funds to Cede & Co., for further credit to the account designated by such Holder. The final distribution on each Note will be made in like manner, but only upon presentation
and surrender of such Note at the Corporate Trust Office or such other location specified in the notice to Noteholders of such final distribution. With respect to Book-Entry Notes for which Definitive Notes have not been issued, such notice shall be
sent on the Business Day prior to such Payment Date by facsimile, and with respect to Definitive Notes, such notice shall be sent not later than three (3) Business Days after such Record Date in accordance with Section 11.05, and, in each
case, shall specify that such final installment shall be payable only upon presentation and surrender of such Note and shall specify the place where such Note may be presented and surrendered for payment of such installment. The Indenture Trustee
shall not be liable for any failure to provide notice to the Noteholders as required pursuant to this Section 2.07(b) to the extent it has not received notice of such expected Final Scheduled Payment Date from the Issuer not later than two
(2) Business Days after the Record Date. Notices in connection with redemptions of Notes shall be mailed to Noteholders as provided in Section 10.02. The funds represented by any such checks returned undelivered shall be held in accordance
with Section 3.03. The final interest payment on each Class of Notes is due on the date on which the Note Balance of that Class of Notes is reduced to zero (including any Redemption Date and the applicable Final Scheduled Payment Date). 

Section 2.08 Cancellation. All Notes surrendered for payment, registration of transfer, exchange or redemption shall, if
surrendered to any Person other than the Indenture Trustee, be delivered to the Indenture Trustee and shall be promptly cancelled by the Indenture Trustee. The Issuer may at any time deliver to the Indenture Trustee for cancellation any Notes
previously authenticated and delivered hereunder that the Issuer may have acquired in any manner whatsoever, and all Notes so delivered shall be promptly cancelled by the Indenture Trustee. No Notes shall be authenticated in lieu of or in exchange
for any Notes cancelled as provided in this Section 2.08, except as expressly permitted by this Indenture. All cancelled Notes may be held or disposed of by the Indenture Trustee in accordance with its standard retention or disposal policy as
in effect at the time. 
 Section 2.09 Tax Treatment; Withholding. 

(a) The Issuer has entered into this Indenture, and the Notes will be issued, with the intention that, for federal, State and local income,
single business and franchise tax purposes, the Notes will qualify as indebtedness secured by the Collateral, and, unless otherwise required by Applicable Law, the Noteholders and the Owners agree that, by acquiring any Note or interest therein,
that it will not take a position contrary to such treatment. The Issuer, by entering into this Indenture agree solely for federal, State and local income, single business and franchise tax purposes, (i) to treat the Notes as indebtedness
secured by the Collateral and (ii) not to treat the Issuer as an association (or publicly-traded partnership) taxable as a corporation, in each case, 

  
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unless such treatment has been determined to be contrary to Applicable Law by a decision, judgment, decree or other order by any court of competent jurisdiction, which decision, judgment, decree
or other order is final and binding after all appeals allowed by Applicable Law. 
 (b) In the event that any withholding tax is imposed on
payments to a Noteholder, such tax shall reduce the amount otherwise distributable to such Noteholder in accordance with this Section. The Indenture Trustee or the Paying Agent is hereby authorized and directed to retain from amounts otherwise
distributable to the Noteholders sufficient funds for the payment of any tax that is legally owed with respect to such payment (but such authorization shall not prevent the Indenture Trustee or the Paying Agent from contesting any such tax in
appropriate proceedings and withholding payment of such tax, if permitted by Applicable Law, pending the outcome of such proceedings; provided, however, the Indenture Trustee or the Paying Agent shall not be required to contest any tax). The amount
of any withholding tax imposed with respect to a Noteholder shall be treated as cash distributed to such Noteholder at the time it is withheld by the Indenture Trustee or the Paying Agent and remitted to the appropriate taxing authority. If there is
a possibility that withholding tax is payable with respect to a payment (such as a payment to a non-U.S. Noteholder), the Indenture Trustee or the Paying Agent may in its sole discretion withhold such amounts
in accordance with this paragraph with no liability therefor. 
 (c) Prior to the receipt of any interest payment, any Noteholder or its
transferee that is a United States person (as defined in Section 7701(a)(30) of the Code) shall (i) provide the Indenture Trustee and the Paying Agent with Internal Revenue Service Form W-9 (or successor form) or (ii) establish
to the satisfaction of the Indenture Trustee and the Paying Agent that it is exempt from backup withholding. Each Noteholder or its transferee agrees by acceptance of a Note that, upon request of the Issuer, the Indenture Trustee or the Paying
Agent, such Noteholder or its transferee will provide the Issuer, the Indenture Trustee or the Paying Agent with a supplemental Internal Revenue Service Form W-9 (or successor form) to the extent legally able to do so and that each Noteholder
or its transferee shall notify the Indenture Trustee or the Paying Agent should subsequent circumstances render such forms or exemptions incorrect or invalid. The Indenture Trustee and the Paying Agent shall be fully protected in relying upon, and
each Noteholder or its transferee by its acceptance of a Note hereunder agrees to indemnify and hold the Indenture Trustee and the Paying Agent harmless against all claims or liability of any kind arising in connection with or related to the
Indenture Trustee’s and the Paying Agent’s reliance upon, any documents, forms or information provided by any Noteholder or its transferee to the Issuer, the Indenture Trustee or the Paying Agent pursuant to this Section 2.09. 

(d) Prior to the receipt of any interest payment, any Noteholder, and upon transfer, any transferee that is not a United States person (as
defined in Section 7701(a)(30) of the Code) shall provide the Indenture Trustee and the Paying Agent with an applicable Internal Revenue Service Form W-8 (or successor forms). Each Noteholder or transferee agrees by acceptance of a Note
that, upon request of the Issuer, the Indenture Trustee or the Paying Agent, such Noteholder or transferee will provide the Issuer, the Indenture Trustee or the Paying Agent with a supplemental applicable Internal Revenue Service Form W-8 (or
successor forms) to the extent legally able to do so and that each Noteholder or its transferee shall notify the Indenture Trustee or the Paying Agent should subsequent circumstances render such forms incorrect or invalid. The Indenture Trustee and
the Paying Agent shall be fully protected in relying upon, and each 

  
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Noteholder or its transferee by its acceptance of a Note hereunder agrees to indemnify and hold the Indenture Trustee and the Paying Agent harmless against all claims or liability of any kind
arising in connection with or related to the Indenture Trustee’s and the Paying Agent’s reliance upon, any documents, forms or information provided by any Noteholder or its transferee to the Issuer, the Indenture Trustee or the Paying
Agent pursuant to this Section 2.09. 
 Section 2.10 [Reserved] 

Section 2.11 Book-Entry Notes. Each Note, upon original issuance, shall be issued in the form of a typewritten Note or Notes
representing the Book-Entry Notes, which shall be deposited on behalf of the purchasers of the Notes represented by such Book-Entry Note with the Depository or the Indenture Trustee, as custodian for the Depository, and registered on the Register in
the name of the Depository or a nominee thereof (initially, such nominee to be Cede & Co.). No Owner shall receive a Definitive Note representing such Owner’s interest in such Notes, except as provided in Section 2.13. Unless and
until Definitive Notes have been issued to such Owners pursuant to Section 2.13: 
 (i) the provisions of this
Section 2.11 shall be in full force and effect; 
 (ii) the Registrar, the Paying Agent and the Indenture Trustee shall
be entitled to deal with the Depository for all purposes of this Indenture (including the payment of principal of and interest on such Notes and the giving of instructions or directions hereunder) as the sole Holder of such Notes and shall have no
obligation to such Owners; 
 (iii) to the extent that the provisions of this Section 2.11 conflict with any other
provisions of this Indenture, the provisions of this Section 2.11 shall control; 
 (iv) the rights of the Owners shall
be exercised only through the Depository and shall be limited to those established by Applicable Law and agreements between such Owners and the Depository and/or the Depository Participants, and unless and until Definitive Notes are issued pursuant
to Section 2.13, the initial Depository shall make book-entry transfers between the Depository Participants and receive and transmit payments of principal of and interest on such Notes to such Depository Participants, pursuant to the Depository
Agreement; and 
 (v) whenever this Indenture requires or permits actions to be taken based upon instructions or directions
of Holders of Notes evidencing a specified percentage of the Note Balance of the Outstanding Notes, the Depository shall be deemed to represent such percentage only to the extent that it has (x) received written instructions to such effect from
Owners and/or Depository Participants owning or representing, respectively, such required percentage of the beneficial interest in the Notes and (y) delivered such instructions to the Indenture Trustee. 

Section 2.12 Notices to Depository. Whenever a notice or other communication to the Noteholders is required under this Indenture,
unless and until Definitive Notes representing such Notes shall have been issued to the related Owners pursuant to Section 2.13, the Indenture Trustee shall give all such notices and communications specified herein to be given to the related
Noteholders to the Depository and shall have no obligation to such Owners. 

  
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 Section 2.13 Definitive Notes. If for any Notes issued as Book-Entry Notes, the
Administrator advises the Indenture Trustee in writing that the Depository is no longer willing or able to properly discharge its responsibilities with respect to such Notes and the Issuer is unable to locate a qualified successor, then the
Depository shall notify all Owners and the Indenture Trustee in writing of the occurrence of any such event and of the availability of Definitive Notes to such Owners requesting the same. Upon surrender to the Indenture Trustee of the typewritten
Notes or Notes representing such Book-Entry Notes by the Depository, accompanied by registration instructions, the Issuer shall execute and the Indenture Trustee shall authenticate the related Definitive Notes in accordance with the instructions of
the Depository. None of the Issuer, the Administrator, the Registrar or the Indenture Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be fully protected in relying on, such instructions.
Upon the issuance of such Definitive Notes, the Indenture Trustee shall recognize the Holders of such Definitive Notes as Noteholders. The Indenture Trustee shall not be liable if the Administrator or the Indenture Trustee is unable to locate a
qualified successor Depository. 
 If Definitive Notes are issued and the Indenture Trustee is not the Registrar, the Issuer shall furnish
or cause to be furnished to the Indenture Trustee a list of the names and addresses of the Noteholders (i) as of each Record Date, within five (5) days thereafter and (ii) within thirty (30) days after receipt by the Issuer
of a request therefor. 
 Section 2.14 Depositor as Noteholder. The Depositor in its individual or any other capacity may become
the owner or pledgee of Notes and may otherwise deal with the Issuer or its Affiliates with the same rights it would have if it were not the Depositor. 

Section 2.15 [Reserved]. 

Section 2.16 Additional Transfer Restrictions. The transfer and exchange of Book-Entry Notes or beneficial interests therein shall
be affected through the Depository, in accordance with this Indenture and the procedures of the Depository therefor, which shall include restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act.
Beneficial interests in a Book-Entry Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Book-Entry Note in accordance with the transfer restrictions set forth in the Section 2.04 and on
the legends on the forms of the Notes. 
 Section 2.17 ERISA. The Notes may, in general, be purchased by, or on behalf of, or
with “plan assets” of a Benefit Plan. A fiduciary of a Benefit Plan purchasing any such Class of Notes or a beneficial interest in such Notes, with the assets of a Benefit Plan is deemed to represent that the purchase of one or more such
Notes or a beneficial interest therein is consistent with its fiduciary duties under ERISA and does not result in a nonexempt prohibited transaction as defined in Section 406 of ERISA or Section 4975 of the Code. If the Depositor, the
Servicer, the Indenture Trustee, the Owner Trustee or any of their respective Affiliates (i) has investment or administrative discretion with respect to the assets of a Benefit Plan, (ii) has authority or responsibility to give, or
regularly gives, investment advice with respect to such Benefit Plan assets, for a fee and pursuant to an agreement or understanding that such advice will (a) serve as a primary basis for investment decisions with respect to such Benefit Plan
assets and (b) be based 

  
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on the particular investment needs for such Benefit Plan or (iii) is an employer maintaining or contributing to such Benefit Plan, then a purchase of any such Class of Notes by such a
Benefit Plan may represent a conflict of interest or act of self-dealing by the fiduciary. 
 ARTICLE III 

COVENANTS 
 Section 3.01
Payment of Principal and Interest. The Issuer will duly and punctually pay the principal of and interest, if any, on the Notes, and all other amounts owing hereunder or in respect of the Notes, in accordance with the terms of the Notes, this
Indenture and the Sale and Servicing Agreement. Without limiting the foregoing, subject to Section 8.02(c), on each Payment Date, the Issuer shall cause all amounts deposited pursuant to the Sale and Servicing Agreement for the benefit of the
Notes to be paid to the Noteholders. Amounts properly withheld under the Code by any Person from a payment to any Noteholder of interest and/or principal shall be considered as having been paid by the Issuer to such Noteholder for all purposes of
this Indenture. 
 Section 3.02 Maintenance of Office or Agency. So long as any of the Notes remain outstanding, the Issuer will
maintain in Jacksonville, Florida, an office or agency where Notes may be surrendered for registration of transfer or exchange, and where notices and demands to or upon the Issuer in respect of the Notes and this Indenture may be served. Such office
will initially be located at the Corporate Trust Office. Definitive Notes may be surrendered for registration of transfer or exchange at the Corporate Trust Office. The Issuer will give prompt written notice to the Indenture Trustee of the location,
and of any change in the location, of any such office or agency. If at any time the Issuer shall fail to maintain any such office or agency or shall fail to furnish the Indenture Trustee with the address thereof, such surrenders, notices and demands
may be made or served at the Corporate Trust Office, and the Issuer hereby appoints the Indenture Trustee as its agent to receive all such surrenders, notices and demands. 

Section 3.03 Money for Payments to Be Held in Trust. All payments of amounts due and payable with respect to any Notes that are to
be made from amounts withdrawn from the Trust Accounts shall be made on behalf of the Issuer by the Indenture Trustee or by another Paying Agent, and no amounts so withdrawn from any Trust Account for payments of Notes shall be paid over to the
Issuer except as provided in this Section 3.03. 
 On or before the Business Day preceding each Payment Date or the Redemption Date,
the Issuer shall deposit or cause to be deposited in the Collection Account and the Principal Distribution Account an aggregate sum sufficient to pay the amounts then becoming due under the Notes, such sum to be held in trust for the benefit of the
Persons entitled thereto, and (unless the Paying Agent is the Indenture Trustee) shall promptly notify the Indenture Trustee, in writing, of its action or failure so to act. 

The Issuer will cause each Paying Agent other than the Indenture Trustee to execute and deliver to the Indenture Trustee an instrument in
which such Paying Agent shall agree with the Indenture Trustee (and if the Indenture Trustee acts as Paying Agent, it hereby so agrees), subject to the provisions of this Section 3.03, that such Paying Agent will: 

  
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 (i) hold all sums held by it for the payment of amounts due with respect to the
Notes in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided and pay such sums to such Persons as herein provided; 

(ii) give the Indenture Trustee written notice of any default by the Issuer (or any other obligor on the Notes) of which it has
actual knowledge in the making of any payment required to be made with respect to the Notes; 
 (iii) at any time during the
continuance of any such default, upon the written request of the Indenture Trustee, forthwith pay to the Indenture Trustee all sums so held in trust by such Paying Agent; 

(iv) immediately resign as a Paying Agent and forthwith pay to the Indenture Trustee all sums held by it in trust for the
payment of Notes if at any time it ceases to meet the standards required to be met by a Paying Agent at the time of its appointment; and 

(v) comply with all requirements of the Code with respect to the withholding from any payments made by it on any Notes of any
applicable withholding taxes imposed thereon and with respect to any applicable reporting requirements in connection therewith. 
 The
Issuer may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, by Issuer Order direct any Paying Agent to pay to the Indenture Trustee all sums held in trust by such Paying Agent, such
sums to be held by the Indenture Trustee upon the same trusts as those upon which the sums were held by such Paying Agent; and upon such payment by any Paying Agent to the Indenture Trustee, such Paying Agent shall be released from all further
liability with respect to such money. 
 Subject to Applicable Laws with respect to escheat of funds, any money held by the Indenture
Trustee or any Paying Agent in trust for the payment of any amount due with respect to any Note and remaining unclaimed for two (2) years after such amount has become due and payable shall be discharged from such trust and be paid upon Issuer
Request to the Issuer; and the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Issuer for payment thereof (but only to the extent of the amounts so paid to the Issuer), and all liability of the Indenture
Trustee or such Paying Agent with respect to such trust money shall thereupon cease; provided, however, that the Indenture Trustee or such Paying Agent, before being required to make any such repayment, shall at the expense and written direction of
the Issuer cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in The City of New York, notice that such money remains unclaimed and that, after a date
specified therein, which shall not be less than thirty (30) days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Issuer. The Indenture Trustee shall also adopt and employ, at the
expense and written direction of the Issuer, any other reasonable means of notification of such repayment (including mailing notice of such repayment to Holders whose Notes have been called but have not been surrendered for redemption or whose right
to or interest in moneys due and payable but not claimed is determinable from the records of the Indenture Trustee or of any Paying Agent, at the last address of record for each such Holder). 

  
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 Section 3.04 Existence. The Issuer will keep in full effect its existence, rights and
franchises as a statutory trust under the laws of the State of Delaware and will obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or shall be necessary to protect the validity and
enforceability of this Indenture, the Notes and the Collateral, and will not dissolve or liquidate in whole or in part. 
 Section 3.05
Protection of Collateral; Manner of Perfection. 
 (a) The Issuer intends the security interest Granted pursuant to this Indenture in
favor of the Indenture Trustee on behalf of the Noteholders to be prior to all other Liens in respect of the Collateral, and the Issuer shall take all actions necessary to obtain and maintain, for the benefit of the Indenture Trustee on behalf of
the Noteholders, a first Lien on and a first priority, perfected security interest in the Collateral. 
 (b) The Issuer will from time to
time execute, deliver and file all such supplements and amendments hereto and (subject to clause (c) below) all such UCC financing statements, continuation statements, instruments of further assurance and other instruments, and will take such
other action necessary or advisable to: 
 (i) maintain or preserve the lien and security interest (and the first priority
thereof) of this Indenture or carry out more effectively the purposes hereof; 
 (ii) perfect, publish notice of or protect
the validity of any Grant made or to be made by this Indenture; 
 (iii) enforce the Indenture Trustee’s rights in any
of the Collateral; 
 (iv) preserve and defend title to the Collateral and the rights of the Indenture Trustee and the
Noteholders in such Collateral against the claims of all Persons and parties; or 
 (v) pay or cause to be paid any taxes or
assessments levied or assessed upon the Collateral when due. 
 (c) The Issuer hereby designates the Indenture Trustee, as its agent and attorney-in-fact, to execute any UCC financing statement, continuation statement or other instrument required to be executed pursuant to this Section 3.05; provided,
however, that the Issuer will have the responsibility for taking such actions, and anything herein to the contrary notwithstanding (including the authorization to file granted in this sentence), the Indenture Trustee shall have no duty,
responsibility or obligation to file any financing statements or record any documents or instruments in any public office at any time or times or otherwise perfecting or maintaining the perfection of any security interest and shall have no liability
for failing to do so. 
 (d) The Issuer hereby represents and warrants that, as to the Collateral pledged to the Indenture Trustee for the
benefit of the Noteholders, on the Closing Date: 

  
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 (i) the Indenture creates a valid and continuing security interest (as defined in
the applicable UCC) in the Collateral that is in existence in favor of the Indenture Trustee, which security interest is prior to all other liens, and is enforceable as such as against creditors of and purchasers from the Issuer; 

(ii) the Issuer has taken all steps necessary to perfect its security interest against the Obligor in the Financed Vehicle;

 (iii) the Receivables constitute “tangible chattel paper” or “electronic chattel paper” under the
applicable UCC; as of the Cutoff Date, no more than 10% of the Pool Balance is represented by Receivables constituting “electronic chattel paper,” and at least 90% of the Pool Balance is represented by Receivables constituting
“tangible chattel paper”; 
 (iv) the Issuer owns and has good and marketable title to such Collateral free and
clear of any liens, claims or encumbrances of any Person, other than the interest Granted under this Indenture; 
 (v) the
Issuer has received a written acknowledgment from the Servicer that the Servicer is holding the loan agreements and installment sale contracts that constitute or evidence the Receivables solely on behalf and for the benefit of the Issuer; 

(vi) other than the security interest granted to the Indenture Trustee pursuant to this Indenture, the Issuer has not pledged,
assigned, sold, granted a security interest in, or otherwise conveyed any of the Receivables; the Issuer has not authorized the filing of and is not aware of any financing statements against the Issuer that include a description of collateral
covering the Receivables other than any financing statement relating to the security interest granted to the Indenture Trustee hereunder or that has been terminated; the Issuer is not aware of any judgment or tax lien filings against the Issuer;

 (vii) none of the installment sale contracts that constitute or evidence the Receivables has any marks or notations
indicating that it has been pledged, assigned, or otherwise conveyed by the Issuer to any Person other than the Indenture Trustee; 

(viii) the Trust Accounts are not in the name of any person other than the Indenture Trustee and the Issuer has not consented
to the bank maintaining the Trust Accounts to comply with the instructions of any Person other than the Indenture Trustee; 

(ix) the Issuer has caused or will have caused, within ten (10) days after the Closing Date, the filing of all appropriate
financing statements in the proper filing office in the appropriate jurisdiction under Applicable Law in order to perfect the security interest Granted hereunder in the Receivables; 

(x) other than its Granting hereunder, the Issuer has not Granted such Collateral, the Issuer has not authorized the filing of
and is not aware of any financing statements against the Issuer that include a description of such Collateral other than the financing statement in favor of the Indenture Trustee, and the Issuer is not aware of any judgment or tax lien filing
against it; and 

  
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 (xi) the information relating to such Collateral set forth in the Schedule of
Receivables (attached as Schedule A to the Sale and Servicing Agreement) is correct. 
 The representations and warranties set forth in this Section
may not be waived. The representations and warranties set forth in this Section will survive the termination of this Section until the Indenture has been discharged. 

(e) All financing statements filed or to be filed against the Issuer in favor of the Indenture Trustee in connection with this Indenture
describing the Collateral shall contain a statement to the following effect: “A purchase of, or a security interest in, any of the collateral covered by this financing statement will violate the rights of the secured party.” 

Section 3.06 Opinions as to Collateral. 

(a) On the Closing Date, the Issuer shall cause to be furnished to the Indenture Trustee an Opinion of Counsel either stating that, in the
opinion of such counsel, such action has been taken with respect to the recording and filing of this Indenture, any indentures supplemental hereto, and any other requisite documents, and with respect to the execution and filing of any UCC financing
statements and continuation statements, as are necessary to perfect and make effective the lien and security interest of this Indenture and reciting the details of such action, or stating that, in the opinion of such counsel, no such action is
necessary to make such lien and security interest effective. 
 (b) On or before
June 30th of each year, beginning in 2016, the Issuer shall furnish to the Indenture Trustee and the Rating Agencies an Opinion of Counsel either stating that, in the opinion of such counsel,
such action has been taken with respect to the recording, filing, re-recording and refiling of this Indenture, any indentures supplemental hereto and any other requisite documents and with respect to the execution and filing of any UCC financing
statements and continuation statements as is necessary to maintain the lien and security interest created by this Indenture, the Sale and Servicing Agreement and the Receivables Purchase Agreement and reciting the details of such action, or
stating that in the opinion of such counsel no such action is necessary to maintain such lien and security interest. Such Opinion of Counsel shall also describe the recording, filing, re-recording and refiling of this Indenture, any indentures
supplemental hereto and any other requisite documents and the execution and filing of any UCC financing statements and continuation statements that will, in the opinion of such counsel, be required to maintain the lien and security interest of this
Indenture, the Sale and Servicing Agreement and the Receivables Purchase Agreement and the priority thereof until June 30th of the following calendar year. 

Section 3.07 Performance of Obligations; Servicing of Receivables. 

(a) The Issuer will not take any action and will use its best efforts not to permit any action to be taken by others that would release any
Person from any of such Person’s material covenants or obligations under any instrument or agreement included in the Collateral or that would result in the amendment, hypothecation, subordination, termination or discharge of, or impair the
validity or effectiveness of, any such instrument or agreement, except as expressly provided in this Indenture or the Sale and Servicing Agreement. 

  
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 (b) The Issuer may contract with other Persons to assist it in performing its duties under this
Indenture, and any performance of such duties by a Person identified to the Indenture Trustee in an Officer’s Certificate of the Issuer shall be deemed to be action taken by the Issuer, provided that any delegation shall not release the
Issuer from its obligations hereunder and under the Notes. Initially, the Issuer has contracted with the Servicer and the Administrator to assist the Issuer in performing its duties under this Indenture. 

(c) The Issuer will punctually perform and observe all of its obligations and agreements contained in this Indenture, the Basic Documents, and
in the instruments and agreements included in the Collateral, and shall enforce its rights thereunder and the obligations of the other Persons parties thereto, including filing or causing to be filed all UCC financing statements and continuation
statements required to be filed by the terms of this Indenture and the Sale and Servicing Agreement in accordance with and within the time periods provided for herein and therein. 

(d) If the Issuer shall have knowledge of the occurrence of a Servicer Termination Event or of any other breach by a Person under any Basic
Document, the Issuer shall promptly notify the Indenture Trustee, the Noteholders and the Rating Agencies thereof, and shall specify in such notice the action, if any, that the Issuer is taking with respect to such default. If a Servicer Termination
Event shall arise from the failure of the Servicer to perform any of its duties or obligations under the Sale and Servicing Agreement with respect to the Receivables, the Issuer shall take all reasonable steps available to it to remedy such failure.

 (e) Upon any termination of the Servicer’s rights and powers pursuant to the Sale and Servicing Agreement, the Issuer shall promptly
notify the Indenture Trustee and the Noteholders. As soon as a successor Servicer is appointed, the Issuer shall notify the Indenture Trustee and the Noteholders in writing of such appointment, specifying in such notice the name and address of such
successor Servicer. The Issuer shall not waive timely performance or observance by the Depositor, the Servicer or the Seller of their respective duties or obligations under the Basic Documents if such waiver would reasonably be expected to
materially adversely affect the interests of the Noteholders. 
 Section 3.08 Negative Covenants. So long as any Notes are
outstanding, the Issuer shall not: 
 (a) except as expressly permitted by the Basic Documents, sell, transfer, exchange or otherwise dispose
of any of the properties or assets of the Issuer, including those included in the Collateral; 
 (b) engage in any activities other than
financing, acquiring, owning, pledging and managing the Receivables and the other Collateral as contemplated by this Indenture and the other Basic Documents; 

(c) claim any credit on, or make any deduction from the principal or interest payable in respect of, the Notes (other than amounts properly
withheld from such payments under the Code or applicable State law) or assert any claim against any present or former Noteholder by reason of the payment of the taxes levied or assessed upon any part of the Collateral; 

  
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 (d) (i) permit the validity or effectiveness of this Indenture to be impaired or permit any
Person to be released from any covenants or obligations with respect to the Notes under this Indenture except as may be expressly permitted hereby, or permit the Lien of this Indenture to be amended, hypothecated, subordinated, terminated or
discharged, (ii) permit any lien, charge, excise, claim, security interest, mortgage or other encumbrance (other than the lien of this Indenture) to be created on or extend to or otherwise arise upon or burden the Collateral or any part thereof
or any interest therein or the proceeds thereof (other than tax liens, mechanics’ liens and other liens that arise by operation of law, in each case on any of the Financed Vehicles and arising solely as a result of an action or omission of the
related Obligor), (iii) permit the lien of this Indenture not to constitute a valid first priority (other than with respect to any such tax, mechanics’ or other lien) security interest in the Collateral, (iv) dissolve or liquidate in
whole or in part or (v) merge or consolidate with, or transfer substantially all of its assets to, any other Person; 
 (e) take any
action that, for federal, State or local income, single business and franchise tax purposes, (i) would cause the Notes to fail to be treated as debt or (ii) would cause the Issuer to be treated as an association (or publicly-traded
partnership) taxable as a corporation; or 
 (f) incur, assume or guarantee or otherwise become liable for any indebtedness other than the
indebtedness evidenced by the Notes or indebtedness otherwise permitted by the Basic Documents. 
 Section 3.09 Annual Statement as
to Compliance. The Issuer will deliver to the Depositor, the Indenture Trustee and the Rating Agencies, on or before March 31 of each year an Officer’s Certificate stating, as to the Authorized Officer signing such Officer’s
Certificate, that: (i) a review of the activities of the Issuer during the preceding calendar year (or, in the case of the first such report due on or before March 31, 2016, during the period from the Closing Date to December 31,
2015) and of its performance under this Indenture has been made under such Authorized Officer’s supervision; and (ii) to the best of such Authorized Officer’s knowledge, based on such review, the Issuer has complied with all
conditions and covenants under this Indenture throughout such year (or shorter period specified above in the case of the first such report) in all material respects or, if there has been a default in its compliance with any such condition or
covenant, specifying each such default known to such Authorized Officer and the nature and status thereof. 
 Section 3.10 Issuer
May Not Merge or Consolidate. The Issuer shall not consolidate or merge with or into any other Person. The Issuer shall not convey or transfer any of its properties or assets, including the Collateral, to any person. 

Section 3.11 No Other Business. The Issuer shall not engage in any business other than financing, purchasing, owning, selling and
managing the Receivables in the manner contemplated by this Indenture and the Basic Documents and engaging in any activities incidental thereto. The Issuer shall not fund the purchase of any receivables other than the Receivables. 

  
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 Section 3.12 No Borrowing. The Issuer shall not issue, incur, assume, guarantee or
otherwise become liable, directly or indirectly, for any indebtedness, or incur any other obligations or liabilities, except for the Notes. 

Section 3.13 Servicer’s Obligations. The Issuer shall cause the Servicer to comply with its obligations under the Sale and
Servicing Agreement. 
 Section 3.14 Guarantees, Loans, Advances and Other Liabilities. Except as contemplated by the Trust
Agreement, the Sale and Servicing Agreement or this Indenture, the Issuer shall not make any loan or advance or credit to, or guarantee (directly or indirectly or by an instrument having the effect of assuring another’s payment or performance
on any obligation or capability of so doing or otherwise), endorse or otherwise become contingently liable, directly or indirectly, in connection with the obligations, stocks or dividends of, or own, purchase, repurchase or acquire (or agree
contingently to do so) any stock, obligations, assets or securities of, or any other interest in, or make any capital contribution to, any Person. 

Section 3.15 Capital Expenditures. The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for
capital assets (whether consisting of realty or personal property). 
 Section 3.16 Removal of Administrator. So long as any
Notes are outstanding, the Issuer shall not remove the Administrator without cause without prior satisfaction of the Rating Agency Condition. 

Section 3.17 Restricted Payments. The Issuer shall not, directly or indirectly, (i) pay any dividend or make any distribution
(by reduction of capital or otherwise), whether in cash, property, securities or a combination thereof, to the Owner Trustee or any owner of a beneficial interest in the Issuer or otherwise with respect to any ownership or equity interest or
security in or of the Issuer or to the Servicer, (ii) redeem, purchase, retire or otherwise acquire for value any such ownership or equity interest or security or (iii) set aside or otherwise segregate any amount for any such purpose;
provided, however, that the Issuer may make, or cause to be made, distributions as contemplated by, and to the extent funds are available for such purpose under, the Sale and Servicing Agreement, this Indenture or the Trust Agreement. The Issuer
will not, directly or indirectly, make payments to or distributions from the Trust Accounts except in accordance with this Indenture and the other Basic Documents. 

Section 3.18 Notice of Events of Default. The Issuer shall give the Indenture Trustee and the Rating Agencies prompt written
notice of each Event of Default hereunder, each default on the part of the Seller, the Servicer or the Depositor of their respective obligations under the Sale and Servicing Agreement and each default on the part of the Seller or the Purchaser of
its obligations under the Receivables Purchase Agreement. 
 Section 3.19 Further Instruments and Acts. Upon request of the
Indenture Trustee, the Issuer will execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 

Section 3.20 Compliance with Laws. The Issuer shall comply with the requirements of all Applicable Laws, the non-compliance with which would, individually or in the aggregate, materially and adversely affect the ability of the Issuer to perform its obligations under the Notes, this Indenture or any other Basic Document to
which the Issuer is a party. 

  
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 Section 3.21 Amendments to Sale and Servicing Agreement. The Issuer shall not agree
to any amendment to Section 10.01 of the Sale and Servicing Agreement or Section 8.02 of the Trust Agreement to eliminate the requirements thereunder that the Indenture Trustee or the Noteholders consent to amendments thereto as provided
therein, unless the Indenture Trustee or the Noteholders, as appropriate, consent to such amendment eliminating such requirement. 
 ARTICLE
IV 
 SATISFACTION AND DISCHARGE 

Section 4.01 Satisfaction and Discharge of Indenture. This Indenture shall cease to be of further effect with respect to the Notes
except as to (i) rights of registration of transfer and exchange of outstanding Notes, (ii) substitution of mutilated, destroyed, lost or stolen Notes, (iii) rights of Noteholders to receive payments of principal thereof and interest
thereon and all other amounts with respect thereto, (iv) Sections 3.03, 3.04, 3.05, 3.08, 3.10, 3.11, 3.12, 3.16, 3.14, 3.15 and 3.17, (v) the rights and immunities of the Indenture Trustee hereunder (including the rights of the Indenture
Trustee under Section 6.07) as well as the obligations of the Indenture Trustee under Section 4.04 and (vi) the rights of Noteholders as beneficiaries hereof with respect to the property so deposited with the Indenture Trustee payable
to all or any of them, and the Indenture Trustee, on demand of and at the expense of the Issuer, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture with respect to the Notes, when: 

(1) either: (A) all Notes theretofore authenticated and delivered (other than Notes (1) that have been destroyed,
lost or stolen and that have been replaced or paid as provided in Section 2.05 and (2) for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuer and thereafter repaid to the Issuer or
discharged from such trust, as provided in Section 3.03) have been delivered to the Indenture Trustee for cancellation; or (B) all Notes not theretofore delivered to the Indenture Trustee for cancellation have become due and payable
and the Issuer has irrevocably deposited or caused to be irrevocably deposited with the Indenture Trustee, cash or direct obligations of or obligations guaranteed by the United States (which will mature prior to the date such amounts are payable),
in trust for such purpose, in an amount sufficient to pay and discharge the entire indebtedness on such Notes not theretofore delivered to the Indenture Trustee for cancellation when due to the related Final Scheduled Payment Date or Redemption Date
(if Notes shall have been called for redemption pursuant to Section 10.01), as the case may be; 
 (2) the Issuer has
paid or caused to be paid all other sums payable by the Issuer hereunder and under the other Basic Documents; and 
 (3) the
Issuer has delivered to the Depositor and the Indenture Trustee an Officer’s Certificate and an Opinion of Counsel, and (if required by the TIA or Section 11.01) an Independent Certificate, each meeting the applicable requirements of

  
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Section 11.01(a) and, subject to Section 11.02, each stating that all conditions precedent provided for in this Indenture relating to the satisfaction and discharge of this Indenture
have been complied with. 
 Section 4.02 Application of Trust Money. All moneys deposited with the Indenture Trustee pursuant to
this Article IV shall be held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent, as the Indenture Trustee may determine, to the Holders of the
particular Notes for the payment or redemption of which such moneys have been deposited with the Indenture Trustee, of all sums due and to become due thereon for principal and interest; but such moneys need not be segregated from other funds except
to the extent required herein or in the Sale and Servicing Agreement or required by Applicable Law. 
 Section 4.03 Repayment of
Moneys Held by Paying Agent. In connection with the satisfaction and discharge of this Indenture with respect to the Notes, all moneys then held by any Paying Agent other than the Indenture Trustee under the provisions of this Indenture with
respect to such Notes shall, upon written demand of the Issuer or the Indenture Trustee, be paid to the Indenture Trustee to be held and applied according to Section 3.03; and thereupon, such Paying Agent shall be released from all further
liability with respect to such moneys. 
 Section 4.04 Release of Collateral. Subject to Section 11.01 and except as may be
provided by the terms of the Basic Documents (including Section 8.04 hereof, Sections 3.03, 4.03 and 4.06(a) of the Sale and Servicing Agreement and Section 3.02 of the Receivables Purchase Agreement), the Indenture Trustee shall release
property from the lien of this Indenture only when the Notes shall have been Paid In Full upon receipt of an Issuer Request accompanied by an Officer’s Certificate, an Opinion of Counsel and, if required by Section 11.01, Independent
Certificates in accordance with Sections 314(c) and 314(d)(1) of the TIA or an Opinion of Counsel in lieu of such Independent Certificates to the effect that the TIA does not require any such Independent Certificates. If the Commission shall issue
an exemptive order under TIA Section 304(d) modifying the Indenture Trustee’s obligations under TIA Sections 314(c) and 314(d)(1), the Indenture Trustee shall release property from the Lien of this Indenture in accordance with the
conditions and procedures set forth in such exemptive order. 
 Section 4.05 Satisfaction, Discharge and Defeasance of the
Notes. 
 (a) Upon satisfaction of the conditions set forth in Section 4.05(b), the Issuer shall be deemed to have paid and
discharged the entire indebtedness on all the Notes Outstanding, and the provisions of this Indenture, as it relates to such Notes, shall no longer be in effect (and the Indenture Trustee, at the expense of the Issuer, shall execute proper
instruments acknowledging the same), except as to: 
 (i) the rights of the Noteholders to receive, from the trust funds
described in Section 4.05(b)(i), payment of the principal of and interest on the Notes Outstanding at maturity of such principal or interest; 

(ii) the obligations of the Issuer with respect to the Notes under Sections 2.04, 2.05, 3.02 and 3.03; 

  
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 (iii) the obligations of the Issuer and Servicer to the Indenture Trustee under
Section 6.07; and 
 (iv) the rights, powers, trusts, protections, indemnities and immunities of the Indenture Trustee
hereunder and the duties of the Indenture Trustee hereunder. 
 (b) The satisfaction, discharge and defeasance of the Notes pursuant to
Section 4.05(a) is subject to the satisfaction of all of the following conditions: 
 (i) the Issuer has deposited or
caused to be deposited irrevocably (except as provided in Section 4.03) with the Indenture Trustee as trust funds in trust, specifically pledged as security for, and dedicated solely to, the benefit of the Noteholders, which, through the
payment of interest and principal in respect thereof in accordance with their terms will provide, not later than one day prior to the due date of any payment referred to below, money in an amount sufficient, in the opinion of a nationally recognized
firm of Independent Accountants expressed in a written certification thereof delivered to the Indenture Trustee, to pay and discharge the entire indebtedness on the Notes Outstanding, for principal thereof and interest thereon to the date of such
deposit (in the case of Notes that have become due and payable) or to the maturity of such principal and interest, as the case may be; 

(ii) such deposit will not result in a breach or violation of, or constitute an event of default under, any Basic Document to
which Issuer is party to or other agreement or instrument to which the Issuer is bound; 
 (iii) no Event of Default has
occurred and is continuing on the date of such deposit or on the 91st day after such date; and 
 (iv) the Issuer has
delivered to the Depositor and the Indenture Trustee, and the Indenture Trustee shall be fully protected in relying upon, an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for in this
Indenture relating to the defeasance contemplated by this Section have been complied with. 
 ARTICLE V 

EVENTS OF DEFAULT; REMEDIES 

Section 5.01 Events of Default. “Event of Default,” wherever used herein, means any one of the following events
(whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any Governmental
Authority): 
 (a) default in the payment of any interest on any Note of the Controlling Class when the same becomes due and payable, and
such default shall continue for a period of five (5) days; 
 (b) default in the payment of the principal of any Note on the related
Final Scheduled Payment Date or the Redemption Date; 

  
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 (c) any failure by the Issuer to duly observe or perform any of its covenants or agreements or a
breach of any of its representations and warranties in this Indenture (other than as specified above in clauses (a) and (b)), which failure has a Material Adverse Effect on the Noteholders and which continues unremedied for a period of thirty
(30) days; or 
 (d) the occurrence of an Insolvency Event with respect to the Issuer. 

The Issuer shall promptly (but in any event not later than five (5) Business Days) deliver to the Indenture Trustee written notice in the form of an
Officer’s Certificate of any event that with the giving of notice and the lapse of time would become an Event of Default under clause (c) above, its status and what action the Issuer is taking or proposes to take with respect thereto. 

Section 5.02 Acceleration of Maturity; Rescission and Annulment. 

(a) If an Event of Default shall have occurred and be continuing (other than an Event of Default specified in Section 5.01(d)), the
Indenture Trustee in its discretion may, or if so requested in writing by the Noteholders representing a majority of the Note Balance of the Outstanding Notes of the Controlling Class, shall, declare by written notice to the Issuer all of the Notes
to be immediately due and payable, and upon any such declaration (but subject to clause (b) below) the entire outstanding Note Balance, together with accrued interest thereon through the date of acceleration, shall become immediately due and
payable as provided in the Notes. If following the occurrence of an Event of Default (other than an Event of Default specified in Section 5.01(d)), the Indenture Trustee has not declared the Notes to be immediately due and payable, the Issuer
shall continue to pay interest and principal on the Notes on each Payment Date in accordance with Section 5.04 of the Sale and Servicing Agreement, until the Notes are accelerated or until a liquidation, if any, of the Trust Estate. If an Event
of Default specified in Section 5.01(d) shall have occurred and be continuing, the Notes shall automatically become immediately due and payable without any further action on the part of any Person. 

(b) At any time after declaration of acceleration of maturity has been made pursuant to clause (a) above and before a judgment or decree
for payment of the money due has been obtained by the Indenture Trustee as provided hereinafter in this Article V, the Noteholders representing a majority of the Note Balance of the Outstanding Notes of the Controlling Class may, by written
notice to the Issuer and the Indenture Trustee, rescind such declaration and annul such consequences if: 
 (i) the Issuer
has paid or deposited with the Indenture Trustee a sum sufficient to pay: 
 (A) all payments of principal of and interest on
all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and 

(B) all sums paid by the Indenture Trustee hereunder and the reasonable compensation, expenses and disbursements of the
Indenture Trustee and its agents and counsel and the reasonable compensation, expenses and disbursements of the Indenture Trustee and its agents and counsel. 

  
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 (ii) all Events of Default, other than the nonpayment of the principal of the
Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.12. 
 No such rescission
shall affect any subsequent default or impair any right consequent thereto. 
 Section 5.03 Collection of Indebtedness and Suits for
Enforcement by Indenture Trustee; Authority of the Controlling Class. 
 (a) The Issuer covenants that if (i) a default is made in
the payment of any interest on any Note when the same becomes due and payable, and such default continues for a period of five (5) days, or (ii) a default is made in the payment of the principal of or any installment of the principal of
any Note on the related Final Scheduled Payment Date, the Issuer will, upon demand of the Noteholders representing a majority of the Note Balance of the Outstanding Notes of the Controlling Class, pay to the Indenture Trustee, for the benefit of the
Noteholders, the entire amount then due and payable on such Notes in respect of principal and interest, with interest on the overdue principal and, to the extent payment at such rate of interest shall be legally enforceable, on overdue installments
of interest at the Interest Rates then applicable to the Notes and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses and disbursements of
the Indenture Trustee and its agents and counsel. 
 (b) In case the Issuer shall fail forthwith to pay such amounts upon such demand or if
any such amounts became due and payable automatically pursuant to the terms of Section 5.02(a), the Indenture Trustee, in its own name and as trustee of an express trust, may (and at the written direction of the Noteholders representing a
majority of the Note Balance of the Outstanding Notes of the Controlling Class shall) institute a Proceeding for the collection of the sums so due and unpaid, and may prosecute such Proceeding to judgment or final decree, and may enforce the same
against the Issuer or other obligor on such Notes and collect in the manner provided by law out of the Collateral or the property of any other obligor on such Notes, wherever situated, the moneys adjudged or decreed to be payable. 

(c) If an Event of Default occurs, the Indenture Trustee may, as more particularly provided in Section 5.04, in its discretion, or shall
at the written direction of the Noteholders representing a majority of the Note Balance of the Outstanding Notes of the Controlling Class, proceed to protect and enforce its rights and the rights of the Noteholders, by such appropriate Proceedings
as the Indenture Trustee or the Indenture Trustee at the written direction of the Noteholders representing a majority of the Note Balance of the Outstanding Notes of the Controlling Class shall reasonably deem most effective to protect and enforce
any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy or legal or equitable right vested in the Indenture
Trustee by this Indenture or by law. 
 (d) In case there shall be pending, relative to the Issuer or any other obligor on the Notes or any
Person having or claiming an ownership interest in the Collateral, Proceedings under Title 11 of the United States Code or any other applicable federal or State bankruptcy, 

  
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insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, or liquidator, sequestrator or similar official shall have been appointed for or taken
possession of the Issuer or its property or CRB or its property or such other obligor or Person, or in case of any other comparable Proceedings relative to the Issuer or other obligor on the Notes or CRB, or to the creditors or property of the
Issuer or such other obligor or CRB, the Indenture Trustee, irrespective of whether the principal of any Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Indenture Trustee shall
have made any demand pursuant to the provisions of this Section 5.03, shall be entitled and empowered (and at the written direction of the Noteholders representing a majority of the Note Balance of the Outstanding Notes of the Controlling Class
shall), by intervention in such Proceedings or otherwise: 
 (i) to file and prove a claim or claims for the entire amount of
principal and interest owing and unpaid in respect of the Notes and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Indenture Trustee (including any claim for reasonable compensation to the
Indenture Trustee and each predecessor Indenture Trustee, and their respective agents, attorneys and counsel, and for reimbursement of reasonable out-of-pocket expenses and liabilities incurred, by the Indenture Trustee and each predecessor
Indenture Trustee, except as a result of negligence or bad faith) and of the Noteholders allowed in such Proceedings; 
 (ii)
unless prohibited by Applicable Law, to vote on behalf of the Noteholders in any election of a trustee, a standby trustee or a Person performing similar functions in any such Proceedings; 

(iii) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute all
amounts received with respect to the claims of the Noteholders and of the Indenture Trustee on their behalf; and 
 (iv) to
file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Indenture Trustee or the Noteholders allowed in any Proceedings relative to the Issuer, its creditors or its property; 

and any trustee, receiver, liquidator, custodian or other similar official in any such Proceeding is hereby authorized by each of such Noteholders to make
payments to the Indenture Trustee for application in accordance with Section 5.04 of the Sale and Servicing Agreement and, in the event that the Indenture Trustee shall consent to the making of payments directly to such Noteholders, to pay to
the Indenture Trustee such amounts as shall be sufficient to cover reasonable compensation to the Indenture Trustee, each predecessor Indenture Trustee and their respective agents, attorneys and counsel, and all other expenses and amounts due and
owing to the Indenture Trustee under Section 6.07. 
 (e) Nothing herein contained shall be deemed to authorize the Indenture Trustee
to authorize or consent to or vote for or accept or adopt on behalf of any Noteholder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder or to authorize the Indenture Trustee to vote in
respect of the claim of any Noteholder in any such Proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. 

  
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 (f) All rights of action and of asserting claims under this Indenture, or under any of the Notes,
may be enforced by the Indenture Trustee without the possession of any of the Notes or the production thereof in any Proceedings relative thereto, and any such Proceedings instituted by the Indenture Trustee shall be brought in its own name as
trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Indenture Trustee, each predecessor Indenture Trustee and their respective agents and attorneys, shall be for
the ratable benefit of the Holders of the Notes. 
 (g) In any Proceedings brought by the Indenture Trustee (and also any Proceedings
involving the interpretation of any provision of this Indenture to which the Indenture Trustee shall be a party), the Indenture Trustee shall be held to represent all of the Holders of the Notes, and it shall not be necessary to make any Noteholder
a party to any such Proceedings. 
 Section 5.04 Remedies; Priorities. 

(a) If an Event of Default shall have occurred and be continuing, the Indenture Trustee may, and at the written direction of the Noteholders
representing a majority of the Note Balance of the Outstanding Notes of the Controlling Class shall, do one or more of the following (subject to Sections 5.02 and 5.05): 

(i) institute Proceedings in its own name and as trustee of an express trust for the collection of all amounts then payable on
the Notes or under this Indenture with respect thereto, whether by declaration or otherwise, enforce any judgment obtained and collect from the Issuer and any other obligor on such Notes moneys adjudged due; 

(ii) institute Proceedings from time to time for the complete or partial foreclosure of this Indenture with respect to the
Collateral; 
 (iii) exercise any remedies of a secured party under the UCC and take any other appropriate action to protect
and enforce the rights and remedies of the Indenture Trustee and the Holders of the Notes; and 
 (iv) sell the Collateral or
any portion thereof or rights or interest therein, at one or more public or private sales called and conducted in any manner permitted by law; provided, however, notwithstanding anything else herein to the contrary, that the Indenture Trustee may
not sell or otherwise liquidate the Collateral following an Event of Default, other than an Event of Default described in Section 5.01(a) or (b), unless, (x) the Noteholders representing 100% of the Note Balance of the Outstanding Notes
voting as a single class consent thereto, (y) the proceeds of such sale or liquidation distributable to the Noteholders are sufficient to discharge in full all amounts then due and unpaid on such Notes in respect of principal and interest, or
(z) the Indenture Trustee determines that the Collateral will not continue to provide sufficient funds for the payment of principal of and interest on the Notes as they would have become due if the Notes had not been declared due and payable,
and the Indenture Trustee obtains the consent of the Noteholders representing 662/3% of the Note Balance of the Outstanding Notes voting as
a single class; provided, further, that the Depositor or its Affiliates may not participate in such sales as long as any of them is a Noteholder. 

  
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 In determining such sufficiency or insufficiency with respect to clause (y) and
(z) above, the Indenture Trustee may, at the Issuer’s expense whether or not the Collateral is sold (unless it is paid in the priority set forth in Section 5.04(b) in connection with a sale of Collateral) but need not, obtain and
conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the sufficiency of the Collateral for such purpose. 

(b) If the Indenture Trustee collects any money or property pursuant to this Article V and the Notes have been accelerated, it shall pay
out such money or property (and other amounts, including all amounts held on deposit in the Reserve Account) held as Collateral for the benefit of the Noteholders (net of liquidation costs associated with the sale of the Collateral) in the following
order of priority: 
 (i) first, to the Indenture Trustee, the Owner Trustee and the Administrator, any accrued and unpaid
fees, indemnity payments and reasonable expenses permitted under the Basic Documents; 
 (ii) second, to the Servicer, the
Servicing Fee and all unpaid Servicing Fees and to any Backup Servicer, the Backup Servicing Fee and all unpaid Backup Servicing Fees, if any, with respect to prior Collection Periods; 

(iii) third, pro rata, to the Holders of the Class A-1 Notes, the Holders of the Class A-2 Notes, the Holders of the
Class A-3 Notes and the Holders of the Class A-4 Notes, the Accrued Class A-1 Note Interest, the Accrued Class A-2 Note Interest, the Accrued Class A-3 Note Interest and the Accrued Class A-4 Note Interest,
respectively; 
 (iv) fourth, if (x) the Receivables have been sold after an Event of Default has occurred or
(y) an Event of Default described in Section 5.01(a), (b) or (d) has occurred, in the following order of priority: 

(A) to the Holders of the Class A-1 Notes in respect of principal thereon until the Class A-1 Notes have been Paid In
Full; 
 (B) pro rata, to the Holders of the Class A-2 Notes, the Holders of the Class A-3 Notes and the Holders of
the Class A-4 Notes, in respect of principal thereon, until the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes have been Paid In Full; 

(C) to the Holders of the Class B Notes, the Accrued Class B Note Interest; 

(D) to the Holders of the Class B Notes in respect of principal thereon until the Class B Notes have been Paid In
Full; 

  
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 (E) to the Holders of the Class C Notes, the Accrued Class C Note Interest;

 (F) to the Holders of the Class C Notes in respect of principal thereon until the Class C Notes have been Paid
In Full; 
 (v) fifth, if an Event of Default other than that described in clause (iv) directly above has occurred
and the Receivables have not been sold after such Event of Default has occurred, in the following order of priority: 
 (A)
to the Holders of the Class B Notes, the Accrued Class B Note Interest; 
 (B) to the Holders of the Class C Notes,
the Accrued Class C Note Interest; 
 (C) to the Holders of the Class A-1 Notes in respect of principal thereon until
the Class A-1 Notes have been Paid In Full; 
 (D) pro rata, to the Holders of the Class A-2 Notes, the Holders of
the Class A-3 Notes and the Holders of the Class A-4 Notes, in respect of principal thereon, until the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes have been Paid In Full; 

(E) to the Holders of the Class B Notes in respect of principal thereon until the Class B Notes have been Paid In
Full; 
 (F) to the Holders of the Class C Notes in respect of principal thereon until the Class C Notes have been
Paid In Full; 
 (vi) sixth, any remaining funds shall be distributed to the Certificateholders. 

(c) The Indenture Trustee may fix a record date and payment date for any payment to Noteholders pursuant to this Section 5.04. At least
fifteen (15) days before such record date, the Issuer shall mail to each Noteholder and the Indenture Trustee a notice that states the record date, the payment date and the amount to be paid. 

Section 5.05 Optional Preservation of the Collateral. If the Notes have been declared to be due and payable under
Section 5.02 following an Event of Default, and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may (and if instructed in writing by the Noteholders representing a majority of the Note Balance
of the Outstanding Notes of the Controlling Class shall), elect to maintain possession of the Collateral. It is the desire of the parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and
interest on the Notes, and the Indenture Trustee shall take such desire into account when determining whether or not to maintain possession of the Collateral. In determining whether or not to maintain possession of the Collateral, the Indenture
Trustee may (and if instructed in writing by the Noteholders representing a majority of the Note Balance of the Outstanding Notes of the Controlling Class shall), obtain (and may conclusively 

  
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rely upon) an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Collateral for
such purpose. Such opinion shall be at the expense of the Issuer regardless of whether or not the Collateral is sold unless it is paid in the priority set forth in Section 5.04(b)(i) in connection with a sale of Collateral. 

Section 5.06 Limitation of Suits. 

(a) No Noteholder shall have any right to institute any Proceeding, judicial or otherwise, with respect to this Indenture, or for the
appointment of a receiver or trustee, or for any other remedy hereunder, unless: 
 (i) such Holder has previously given
written notice to the Indenture Trustee of a continuing Event of Default; 
 (ii) the Holders of not less than 25% of the
Note Balance of the Outstanding Notes have made written request to the Indenture Trustee to institute such Proceeding in respect of such Event of Default in its own name as Indenture Trustee hereunder; 

(iii) such Holder or Holders have offered to the Indenture Trustee reasonable indemnity satisfactory to it against the costs,
expenses and liabilities that may be incurred in complying with such request; 
 (iv) the Indenture Trustee for thirty
(30) days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings; and 

(v) no direction inconsistent with such written request has been given to the Indenture Trustee during such thirty
(30) day period by Noteholders representing a majority of the Note Balance of the Outstanding Notes of the Controlling Class. 
 (b) It
is understood and intended that no one or more Noteholders shall have any right in any manner whatsoever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Noteholders or to
obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except as set forth herein. 

(c) In the event the Indenture Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Noteholders
pursuant to this Section 5.06, each representing less than a majority of the Note Balance of the Outstanding Notes of the Controlling Class of Notes, the Indenture Trustee shall only act at the written direction of the Noteholders representing
a majority of the Note Balance of the Outstanding Notes of the Controlling Class. 
 Section 5.07 Unconditional Rights of
Noteholders to Receive Principal and Interest. Notwithstanding any other provisions in this Indenture, each Noteholder shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest, if any, on
such Note on or after the respective due dates thereof expressed in such Note or in this Indenture (or, in the case of redemption, on or after the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall
not be impaired without the consent of such Holder. 

  
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 Section 5.08 Restoration of Rights and Remedies. If the Indenture Trustee or any
Noteholder has instituted any Proceeding to enforce any right or remedy under this Indenture and such Proceeding has been discontinued or abandoned for any reason or has been determined adversely to the Indenture Trustee or to such Noteholder, then
and in every such case the Issuer, the Indenture Trustee and the Noteholders shall, subject to any determination in such Proceeding, be restored severally and respectively to their former positions hereunder, and thereafter all rights and remedies
of the Indenture Trustee and the Noteholders shall continue as though no such Proceeding had been instituted. 
 Section 5.09 Rights
and Remedies Cumulative. No right or remedy herein conferred upon or reserved to the Indenture Trustee or to the Noteholders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by
Applicable Law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not
prevent the concurrent assertion or employment of any other appropriate right or remedy. 
 Section 5.10 Delay or Omission Not a
Waiver. No delay or omission of the Indenture Trustee, or any Noteholder to exercise any right or remedy accruing upon any Default or Event of Default shall impair any such right or remedy or constitute a waiver of any such Default or Event of
Default or acquiescence therein. Every right and remedy given by this Article V or by Applicable Law to the Indenture Trustee or to the Noteholders may be exercised from time to time, and as often as may be deemed expedient, by the Indenture
Trustee or the Noteholders, as the case may be. 
 Section 5.11 Control by Controlling Class. The Holders of a majority of the
Note Balance of the Outstanding Notes of the Controlling Class shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Indenture Trustee with respect to the Notes or this Agreement or
exercising any trust or power conferred on the Indenture Trustee hereunder or under the Notes or any other Basic Document; provided, however, that (i) such direction shall not be in conflict with any rule of law or with this Indenture,
(ii) the Indenture Trustee may take any other action reasonably deemed proper by the Indenture Trustee that is not inconsistent with such direction, (iii) subject to the terms of Section 5.04, any direction to the Indenture Trustee to
sell or liquidate the Collateral shall be by Holders of Notes evidencing not less than 100% of the Note Balance of the Outstanding Notes and (iv) if the conditions set forth in Section 5.05 have been satisfied and the Indenture Trustee
elects to retain the Collateral pursuant to such Section, then any direction to the Indenture Trustee by the Holders of Notes evidencing less than 100% of the Note Balance of the Outstanding Notes to sell or liquidate the Collateral shall be of no
force and effect. Notwithstanding the rights of Noteholders set forth in this Section 5.11, subject to Section 6.01, the Indenture Trustee need not take any action that it reasonably determines might involve it in liability (unless it is
offered a reasonable indemnity satisfactory to it) or might materially adversely affect the rights of any Noteholders not consenting to such action. 

  
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 Section 5.12 Waiver of Past Defaults. Prior to the declaration of the acceleration of
the maturity of the Notes as provided in Section 5.02, the Noteholders representing a majority of the Note Balance of the Outstanding Notes of the Controlling Class may waive any past Default or Event of Default and its consequences except a
Default (i) in payment of principal of or interest on any of the Notes, (ii) in respect of a covenant or provision hereof that cannot be modified or amended without the consent of the Holder of each Note, or (iii) arising from the
occurrence of an Insolvency Event with respect to the Issuer. In the case of any such waiver, the Issuer, the Indenture Trustee and the Holders of the Notes shall be restored to their former positions and rights hereunder, respectively; but no such
waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. 
 Upon any such waiver,
such Default or Event of Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this
Indenture; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. 

Section 5.13 Undertaking for Costs. All parties to this Indenture agree, and each Noteholder by such Holder’s acceptance
thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Indenture Trustee for any action taken, suffered or omitted
by it as Indenture Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any
party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section 5.13 shall not apply to any suit instituted by (i) the Indenture Trustee,
(ii) any Noteholder, or group of Noteholders, in each case holding in the aggregate more than 50% of the Note Balance of the Outstanding Notes, or (iii) any Noteholder for the enforcement of the payment of principal of or interest on any
Note on or after the respective due dates expressed in such Note and in this Indenture (or, in the case of redemption, on or after the Redemption Date). 

Section 5.14 Waiver of Stay or Extension Laws. The Issuer covenants (to the extent that it may lawfully do so) that it will not at
any time insist upon, or plead or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this
Indenture; and the Issuer (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Indenture
Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 
 Section 5.15 Action
on Notes. The Indenture Trustee’s right to seek and recover judgment on the Notes or under this Indenture shall not be affected by the seeking, obtaining or application of any other relief under or with respect to this Indenture. Neither
the lien of this Indenture nor any rights or remedies of the Indenture Trustee or the Noteholders shall be impaired by the recovery of any judgment by the Indenture Trustee against the Issuer or by the levy of any execution under such judgment upon
any portion of the Collateral or upon any of the assets of the Issuer. Any money or property collected by the Indenture Trustee shall be applied in accordance with Section 5.04(b). 

  
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 Section 5.16 Performance and Enforcement of Certain Obligations. 

(a) Promptly following a request from the Indenture Trustee (which request the Indenture Trustee shall make if instructed in writing to do so
by the Noteholders representing a majority of the Note Balance of the Outstanding Notes of the Controlling Class) to do so and at the Administrator’s expense, the Issuer shall take all such lawful action as the Indenture Trustee may request to
compel or secure the performance and observance by CRB of each of its obligations to the Issuer under or in connection with the Basic Documents and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer
under or in connection with the Basic Documents to the extent and in the manner directed by the Indenture Trustee, including the transmission of notices of default on the part of CRB or the Depositor thereunder and the institution of legal or
administrative actions or proceedings to compel or secure performance by CRB or the Depositor of its obligations under the Basic Documents; provided, however, nothing herein shall in any way impose on the Indenture Trustee the duty to monitor the
performance of CRB of any of its liabilities, duties or obligations under any Basic Documents or to compel CRB to so perform and the Indenture Trustee shall have no liability for failing to do so. 

(b) If an Event of Default has occurred and is continuing, the Indenture Trustee may, and, subject to the requirements of the last sentence of
Section 5.11, at the direction (which direction shall be in writing or by telephone (confirmed in writing promptly thereafter)) of Holders of Notes evidencing not less than 66 2⁄3% of the Note Balance of the Outstanding Notes of the Controlling Class shall, exercise all rights, remedies, powers, privileges and claims of the Issuer against the Depositor, the Seller or the Servicer under or
in connection with the Sale and Servicing Agreement or against the Seller under or in connection with the Receivables Purchase Agreement, including the right or power to take any action to compel or secure performance or observance by the Depositor,
the Seller or the Servicer, as the case may be, of its obligations to the Issuer thereunder and to give any consent, request, notice, direction, approval, extension or waiver under the Sale and Servicing Agreement or the Receivables Purchase
Agreement, as the case may be, and any right of the Issuer to take such action shall be suspended. 
 (c) If an Event of Default shall have
occurred and be continuing, the Indenture Trustee may, and, subject to the requirements of the last sentence of Section 5.11, at the direction (which direction shall be in writing or by telephone (confirmed in writing promptly thereafter)) of
the Holders of Notes evidencing not less than 66 2⁄3% of the Note Balance of the Outstanding Notes of the Controlling Class shall, exercise all rights,
remedies, powers, privileges and claims of the Depositor against the Seller under or in connection with the Receivables Purchase Agreement, including the right or power to take any action to compel or secure performance or observance by the Seller
of its obligations to the Depositor thereunder and to give any consent, request, notice, direction, approval, extension or waiver under the Receivables Purchase Agreement, and any right of the Depositor to take such action shall be suspended. 

  
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 ARTICLE VI 

THE INDENTURE TRUSTEE 

Section 6.01 Duties of Indenture Trustee. If an Event of Default has occurred and is continuing of which a Trust Officer of the
Indenture Trustee has actual knowledge, the Indenture Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the
circumstances in the conduct of such person’s own affairs. 
 (a) Except during the continuance of an Event of Default, the Indenture
Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture and no implied covenants or obligations shall be read into this Indenture against the Indenture Trustee; and in the absence of bad faith
or negligence on its part, the Indenture Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon the face value of the certificates, reports, resolutions, documents, orders,
opinions or other instruments furnished to the Indenture Trustee provided under this Indenture and conforming to the requirements of this Indenture; provided, however, that the Indenture Trustee shall not be responsible for the accuracy or content
of any such resolution, certificate, statement, opinion, report, document, order or other instrument; however, the Indenture Trustee shall examine any Officer’s Certificate or Opinion of Counsel issued pursuant to the provisions of this
Indenture to determine whether or not they conform to the requirements of this Indenture; if any such instrument is found not to conform in any material respect to the requirements of this Indenture, the Indenture Trustee shall notify the
Noteholders of such instrument in the event that the Indenture Trustee, after so requesting, does not receive a satisfactorily corrected instrument. 

(b) The Indenture Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act, its own bad faith
or its own willful misconduct, except that: 
 (i) this paragraph does not limit the effect of Section 6.01(a); 

(ii) the Indenture Trustee shall not be liable for any error of judgment made in good faith by a Trust Officer unless it is
proved that the Indenture Trustee was negligent in ascertaining the pertinent facts; and 
 (iii) the Indenture 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 in accordance with the terms of this Indenture or any other Basic Document. 

(c) The Indenture Trustee shall not be liable for indebtedness evidenced by or arising under any of the Basic Documents, including principal
of or interest on the Notes, or interest on any money received by it except as the Indenture Trustee may agree in writing with the Issuer. 

(d) Money held in trust by the Indenture Trustee need not be segregated from other funds except to the extent required by Applicable Law or
the terms of this Indenture or the Sale and Servicing Agreement. 

  
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 (e) No provision of this Indenture shall require the Indenture Trustee to advance, expend or risk
its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of such funds or adequate
indemnity satisfactory to it against such risk or liability is not reasonably assured to it. 
 (f) Every provision of this Indenture
relating to the conduct or affecting the liability of or affording protection to the Indenture Trustee shall be subject to the provisions of this Section 6.01 and the provisions of the TIA. 

(g) Except as provided in Section 8.03(b) of the Sale and Servicing Agreement, the Indenture Trustee shall not be required to perform, or
be responsible for the manner of performance of, any of the obligations of the Servicer or any other party under the Sale and Servicing Agreement. 

(h) The Indenture Trustee shall have no duty (A) to see to any recording, filing, or depositing of this Indenture or any agreement
referred to herein or any UCC financing statement or continuation statement evidencing a security interest, or to see to the maintenance of any such recording or filing or depositing or to any rerecording, refiling or redepositing of any thereof,
(B) to see to any insurance, or (C) to see to the payment or discharge of any tax, assessment, or other governmental charge or any lien or encumbrance of any kind owing with respect to, assessed or levied against, any part of the Trust
Account Property. The Indenture Trustee shall take all actions as directed in writing by the Noteholders representing a majority of the Note Balance of the Outstanding Notes of the Controlling Class that are consistent with this Indenture. 

For purposes of this Section 6.01, the Indenture Trustee, or a Trust Officer thereof, shall only be charged with actual knowledge of any
Default or an Event of Default if a Trust Officer actually knows of such Default or Event of Default or the Indenture Trustee receives written notice of such Default or Event of Default from the Issuer, the Servicer or any Noteholder in accordance
with Section 11.04. Subject to the foregoing, the Indenture Trustee shall not be required to take notice, and in the absence of such actual notice and knowledge, the Indenture Trustee may conclusively assume that there is no such Default or
Event of Default. 
 Section 6.02 Rights of Indenture Trustee. The Indenture Trustee may conclusively rely on the face value of
any document reasonably believed by it to be genuine and to have been signed or presented by the proper person. The Indenture Trustee need not investigate any fact or matter stated in any such document. 

(a) Before the Indenture Trustee acts or refrains from acting, it may require an officer’s certificate or an Opinion of Counsel from the
appropriate party. The Indenture Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on an Officer’s Certificate or Opinion of Counsel from the appropriate party. 

(b) The Indenture Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through
agents or attorneys or a custodian or nominee, and the Indenture Trustee shall not be responsible for any willful misconduct or gross negligence on the part of any such agent, attorney or custodian reasonably selected by the Indenture Trustee with
due care; provided that any such appointment shall not release the Indenture Trustee from its obligations and responsibilities hereunder. 

  
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 (c) The Indenture Trustee shall not be liable for any action it takes or omits to take in good
faith that it believes to be authorized or within its rights or powers; provided that the Indenture Trustee’s conduct does not constitute willful misconduct, negligence or bad faith. 

(d) The Indenture Trustee may consult with counsel reasonably selected by it at the Issuer’s expense, and the advice or Opinion of
Counsel with respect to legal matters relating to this Indenture and the Notes shall be full and complete authorization and protection from liability in respect to any action taken, omitted or suffered by it hereunder in good faith and in accordance
with the advice or opinion of such counsel. 
 (e) In no event shall the Indenture Trustee be responsible or liable for special, indirect,
incidental, punitive or consequential loss or damage of any kind whatsoever (including loss of profit) irrespective of whether any such damages were foreseeable or contemplated even if the Indenture Trustee has been advised of the likelihood of such
loss or damage and regardless of the form of action. 
 (f) The Indenture Trustee may rely, and shall be protected in acting or refraining
from acting, upon any resolution, Officer’s Certificate, opinion of counsel, certificate of auditors or any other certificate, statement, instrument, opinion, report, notice, request, consent, direction, order, appraisal, bond or other paper or
document believed by it to be genuine and to have been signed or presented by the proper party or parties. 
 (g) In making or disposing of
any investment permitted by this Indenture, the Indenture Trustee is authorized to deal with itself (in its individual capacity) or with any one or more of its Affiliates, in each case on an arm’s-length basis and on standard market terms,
whether it or such Affiliate is acting as a subagent of the Indenture Trustee or for any third person or dealing as principal for its own account. 

(h) Delivery of reports, information and documents to the Indenture Trustee shall not constitute constructive notice of any information
contained therein or determinable from information contained therein, including the Issuer’s or any other entity’s compliance with any covenants under this Indenture, the Notes or any other related documents. The Indenture Trustee shall
not be obligated to monitor or confirm, on a continuing basis or otherwise, the Issuer’s or any other entity’s compliance with the covenants described herein or with respect to any reports or other documents filed under this Indenture, the
Notes or any other related document. 
 (i) No provision of this Indenture or any other Basic Document shall be deemed to impose any duty or
obligation on the Indenture Trustee to take or omit to take any action, or suffer any action to be taken or omitted, in the performance of its duties or obligations under the Basic Documents, or to exercise any right or power thereunder, to the
extent that taking or omitting to take such action or suffering such action to be taken or omitted would violate Applicable Law binding upon it. 

In the event that the Indenture Trustee is also acting as Paying Agent, Registrar, Securities Intermediary agent, collateral agent or
custodian, the rights, privileges, immunities, 

  
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benefits and protections afforded to the Indenture Trustee, including its right to be indemnified pursuant to this Article VI, shall be afforded to such Paying Agent, Registrar, Securities
Intermediary, agent, collateral agent or custodian employed to act hereunder; provided, however, that: 
 (i) the Indenture
Trustee shall be under no obligation to exercise any of the trusts or powers vested in it by this Indenture, institute, conduct or defend any litigation hereunder or in relation hereto at the request, order or direction of any of the Noteholders,
pursuant to the provisions of this Indenture, unless such Noteholders shall have offered to the Indenture Trustee reasonable security or indemnity satisfactory to it in its reasonable discretion against the costs, expenses and liabilities which may
be incurred therein or thereby; 
 (ii) the right of the Indenture Trustee to perform any discretionary act enumerated in
this Indenture shall not be construed as a duty, and the Indenture Trustee shall not be answerable for other than its negligence or willful misconduct in the performance of such act; 

(iii) the Indenture Trustee shall not be required to give any bond or surety in respect of the powers granted hereunder; and

 (iv) the Indenture Trustee shall not be bound to make any investigation into the facts or matters stated in any
resolution, certificate, instrument, opinion, report, notice, request, direction, consent, order, or other paper or document reasonably and in good faith believed by the Indenture Trustee to be accurate, but the Indenture Trustee, in its discretion,
may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Indenture Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books and records of the
Issuer, personally, or by agent or attorney at the sole cost of the Issuer and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 

Section 6.03 Individual Rights of Indenture Trustee. Subject to its obligations hereunder and under any other Basic Document, the
Indenture Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer or its Affiliates with the same rights it would have if it were not Indenture Trustee. Subject to its
obligations hereunder and under any other Basic Document, the Paying Agent, Registrar, co-registrar or co-paying agent may do the same with like rights. 

Section 6.04 Indenture Trustee’s Disclaimer. Except as otherwise provided in Section 6.14 and the Indenture
Trustee’s certificate of authentication on the Notes, the Indenture Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture, the Collateral or the Notes, it shall not be accountable for
the Issuer’s use of the proceeds from the Notes, and it shall not be responsible for any statement of the Issuer in the Indenture, any other Basic Document or in any document issued in connection with the sale of the Notes or in the Notes. 

Section 6.05 Notice of Defaults; Repurchase Requests. 

  
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 (a) If a Default occurs and is continuing and if it is actually known to a Trust Officer of the
Indenture Trustee, the Indenture Trustee shall deliver to each Noteholder notice of the Default within five (5) Business Days after it occurs. 

(b) Not later than the fifth day of each calendar month (or, if such day is not a Business Day, the immediately following Business Day),
beginning July 6, 2015, the Indenture Trustee shall provide to the Administrator a notice in substantially the form of Exhibit D with respect to any requests received by a Trust Officer of the Indenture Trustee from a Noteholder during the
immediately preceding calendar month (or, in the case of the initial notice, since the Closing Date) that any Receivable be repurchased by the Seller pursuant to Sections 3.03 and 4.07 of the Sale and Servicing Agreement or Section 3.03 of the
Receivables Purchase Agreement. The Indenture Trustee and the Issuer acknowledge and agree that the purpose of this subsection is to facilitate compliance by CRB and the Depositor with Rule 15Ga-1 under the Exchange Act. Provided that the Indenture
Trustee has timely performed its obligations hereunder, in no event will the Indenture Trustee have any responsibility or liability in connection with any filing required to be made by a securitizer under the Exchange Act. The Indenture Trustee
agrees to comply with reasonable requests made by CRB and the Depositor in good faith for delivery of information within its possession which is freely deliverable under these provisions on the basis of evolving interpretations of such Rule. The
Indenture Trustee shall cooperate fully with all reasonable requests of CRB and the Depositor to deliver any and all records and any other information, in each case in its possession, necessary to permit CRB and the Depositor to comply with the
provisions of such Rule. 
 Section 6.06 Reports by Indenture Trustee to Holders. The Indenture Trustee at the expense of the
Issuer shall deliver or otherwise make available to each Noteholder at such Noteholder’s prior written request such information as may be reasonably required to enable such holder to prepare its federal and State income tax returns as and to
the extent provided in Section 7.04(b) or such other information reasonably requested by any Noteholder, in each case solely to the extent not previously delivered or made available to such Noteholder and reasonably available to the Indenture
Trustee. The Indenture Trustee shall provide or otherwise make available to each Noteholder upon written request, copies of the Basic Documents, the report regarding the Servicer’s compliance and the accountants’ attestation delivered
pursuant to Section 4.10 of the Sale and Servicing Agreement. The above information shall be provided to the Indenture Trustee by the Issuer or the Administrator on its behalf. 

Section 6.07 Compensation and Indemnity. 

(a) The Issuer shall cause the Servicer to pay to the Indenture Trustee from time to time such compensation for its services as shall be
agreed in writing. The Indenture Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Indenture Trustee for all reasonable and actual
out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include the reasonable and actual
out-of-pocket compensation and expenses, disbursements and advances of the Indenture Trustee’s agents, counsel, accountants and experts. The Issuer shall cause the
Servicer to indemnify the Indenture Trustee (including its officers, directors, employees and agents) for, and hold it harmless against, any and all loss, liability, damage, claim or expense (including any

  
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reasonable attorneys’ fees and expenses) directly or indirectly related to, arising out of or otherwise incurred by it in connection with the administration of the trusts created by this
Indenture and the performance of its duties as Indenture Trustee under the Basic Documents. The Indenture Trustee shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. To the extent these fees and
indemnification amounts are not paid by the Servicer, they will be paid out of Available Funds as described in the Sale and Servicing Agreement. Failure by the Indenture Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer
or the Servicer of its obligations hereunder if no prejudice to the Issuer or the Servicer shall have resulted from such failure. The Issuer shall, or shall cause the Servicer to, defend any such claim, and the Indenture Trustee may have separate
counsel and the Issuer shall, or shall cause the Servicer to, pay the fees and expenses of such counsel. Notwithstanding the foregoing, neither the Issuer nor the Servicer need reimburse any expense or indemnify against any loss, liability or
expense incurred by the Indenture Trustee through or arising from (i) the Indenture Trustee’s own willful misconduct, negligence or bad faith (including such conduct of its officers, directors, employees or agents), (ii) the breach of
any of the Indenture Trustee’s representations or warranties hereunder, (iii) the negligence or willful misconduct of the Indenture Trustee in connection with its performance of the duties of successor Servicer under the Sale and Servicing
Agreement, or (iv) any taxes fees or other charges on, based on or measured by, any fees, commissions or compensation received by the Indenture Trustee. 

(b) When the Indenture Trustee incurs expenses after the occurrence of an Event of Default specified in Section 5.01(d) with respect to
the Issuer, such expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or State bankruptcy, insolvency or similar law. 

(c) The provisions of this Section 6.07 shall survive the termination of this Indenture or the resignation or removal of the Indenture
Trustee. 
 Section 6.08 Replacement of Indenture Trustee. 

(a) The Indenture Trustee may resign at any time by so notifying the Issuer, the Depositor and each Rating Agency. The Holders of a majority
of the Note Balance of the Outstanding Notes of the Controlling Class may remove the Indenture Trustee without cause by so notifying the Indenture Trustee, the Issuer, the Depositor and each Rating Agency, and may appoint a successor Indenture
Trustee. The Issuer shall remove the Indenture Trustee if: 
 (i) the Indenture Trustee fails to comply with
Section 6.11; 
 (ii) the Indenture Trustee is adjudged to be bankrupt or insolvent; 

(iii) a receiver or other public officer takes charge of the Indenture Trustee or its property; 

(iv) the Indenture Trustee otherwise becomes incapable of acting; or 

(v) the Indenture Trustee breaches any representation, warranty or covenant made by it under any Basic Document. 

  
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 If the Indenture Trustee resigns or is removed or if a vacancy exists in the office of Indenture Trustee for any
reason (the Indenture Trustee in such event being referred to herein as the retiring Indenture Trustee): (x) the Indenture Trustee shall provide all information reasonably requested by the Depositor in order to comply with its reporting
obligation under Item 6.02 of Form 8-K under the Exchange Act, with respect to the resignation of the Indenture Trustee, and (y) the Issuer shall promptly appoint a successor Indenture Trustee, subject to Section 6.11. No resignation
or removal of the Indenture Trustee and no appointment of a successor Indenture Trustee shall become effective until the acceptance of appointment by the successor Indenture Trustee pursuant to this Section 6.08. 

(b) A successor Indenture Trustee shall deliver a written acceptance of its appointment to the retiring Indenture Trustee and to the Issuer.
Thereupon, the resignation or removal of the retiring Indenture Trustee shall become effective, and the successor Indenture Trustee shall have all of the rights, powers and duties of the Indenture Trustee under this Indenture. The retiring Indenture
Trustee shall be paid all amounts owed to it upon its resignation or removal. The successor Indenture Trustee shall mail a notice of its succession to Noteholders. The retiring Indenture Trustee shall promptly transfer all property held by it as
Indenture Trustee to the successor Indenture Trustee. The retiring Indenture Trustee shall not be liable for the acts or omissions of any successor Indenture Trustee. 

(c) If a successor Indenture Trustee does not take office within thirty (30) days after the retiring Indenture Trustee resigns or is
removed, the retiring Indenture Trustee, the Issuer or the Noteholders representing a majority of the Note Balance of the Outstanding Notes of the Controlling Class may petition any court of competent jurisdiction for the appointment of a successor
Indenture Trustee. 
 (d) If the Indenture Trustee fails to comply with Section 6.11, any Noteholder may petition any court of
competent jurisdiction for the removal of the Indenture Trustee and the appointment of a successor Indenture Trustee. 
 (e) Notwithstanding
the replacement of the Indenture Trustee pursuant to this Section 6.08, the Issuer’s and the Servicer’s obligations under Section 6.07 shall continue for the benefit of the retiring Indenture Trustee. 

Section 6.09 Successor Indenture Trustee by Merger. If the Indenture Trustee consolidates with, merges or converts into, or
transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further act shall be the successor Indenture Trustee;
provided that such corporation or banking association shall be qualified and eligible under Section 6.11. The Indenture Trustee shall provide the Rating Agencies and the Noteholders notice of any such transaction. 

In case at the time such successor or successors by merger, conversion or consolidation to the Indenture Trustee shall succeed to the trusts
created by this Indenture any of the Notes shall have been authenticated but not delivered, any such successor to the Indenture Trustee may adopt the certificate of authentication of any predecessor trustee and deliver such Notes so authenticated;
and in case at that time any of the Notes shall not have been authenticated, any 

  
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successor to the Indenture Trustee shall authenticate such Notes either in the name of any predecessor hereunder or in the name of the successor to the Indenture Trustee; and in all such cases
such certificates shall have the full force and effect as provided in the Notes or in the Indenture. 
 Section 6.10 Appointment of
Co-Indenture Trustee or Separate Indenture Trustee. 
 (a) Notwithstanding any other provisions of this Indenture, at any time, for the
purpose of meeting any legal requirement of any jurisdiction in which any part of the Collateral may at the time be located, the Indenture Trustee shall have the power and may execute and deliver all instruments to appoint one or more Persons
reasonably selected in good faith to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of the trust, and to vest in such Person or Persons, in such capacity and for the benefit of the Noteholders, such
title to the Collateral, or any part thereof, and, subject to the other provisions of this Section 6.10, such powers, duties, obligations, rights and trusts as the Indenture Trustee may consider necessary or desirable provided that any such
appointment shall not release the Trustee from its obligations and responsibilities hereunder. Such co-trustee or separate trustee hereunder shall meet the terms of eligibility as a successor trustee under Section 6.11 and notice to Noteholders
of the appointment of any co-trustee or separate trustee shall be required under Section 6.08. 
 (b) Every 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 Indenture Trustee shall be conferred or imposed
upon and exercised or performed by the Indenture 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 Indenture 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 Indenture 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 Collateral 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 Indenture
Trustee; 
 (ii) no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee
hereunder; and 
 (iii) the Indenture Trustee 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 Indenture Trustee shall be deemed to have been given to each of the
then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Article VI. 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 Indenture Trustee or separately, as may be provided therein, subject to all of
the provisions of this Indenture, specifically including every 

  
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provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection to, the Indenture Trustee. Every such instrument shall be filed with the Indenture
Trustee, and the Person filing such instrument shall provide a copy thereof to the Administrator. 
 (d) Any separate trustee or co-trustee
may at any time constitute the Indenture Trustee, 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 Indenture Trustee, to the extent permitted by Applicable
Law, without the appointment of a new or successor trustee. 
 Section 6.11 Corporate Indenture Trustee Requirements;
Eligibility. The Indenture Trustee shall at all times satisfy the requirements of TIA § 310(a). The Indenture Trustee shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report
of condition, and it shall have a long term, senior unsecured debt rating of investment grade or better by Standard & Poor’s and DBRS. The Indenture Trustee shall comply with TIA § 310(b). 

In the case of the appointment hereunder of a successor Indenture Trustee with respect to the Notes pursuant to this Section 6.11,
(i) the Issuer, the retiring Indenture Trustee and the successor Indenture Trustee shall execute and deliver an indenture supplemental hereto wherein each successor Indenture Trustee shall accept such appointment and which (x) shall
contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, the successor Indenture Trustee all of the rights, powers, trusts and duties of the retiring Indenture Trustee with respect to which the
appointment of such successor Indenture Trustee relates, (y) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Indenture
Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Indenture Trustees co-trustees of the same trust and that each such Indenture Trustee shall be a trustee of a trust or trusts hereunder separate
and apart from any trust or trusts hereunder administered by any other such Indenture Trustee; and upon the removal of the retiring Indenture Trustee shall become effective to the extent provided herein, and (z) shall provide that the successor
Indenture Trustee agrees to enter into a new control agreement and such other agreements as are pertinent hereto and (ii) the retiring Indenture Trustee shall assign the security interest in the Collateral to the successor Indenture Trustee and
executes all instruments and makes all filings that are necessary in order for the successor Indenture Trustee to have a perfected security interest in the Collateral. 

Section 6.12 Waiver of Setoffs. The Indenture Trustee hereby expressly waives any and all rights of setoff that it may otherwise
at any time have under Applicable Law with respect to any Trust Account and agrees that amounts in the Trust Accounts shall at all times be held and applied solely in accordance with the provisions hereof and of the other Basic Documents. 

Section 6.13 Indenture Trustee as Securities Intermediary. The Indenture Trustee represents that it is a Securities Intermediary
and a “bank” within the meaning of Section 9-102(a)(8) of the UCC. 

  
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 The Indenture Trustee, in its capacity as Securities Intermediary, shall: 

(i) treat all Collateral credited to the Trust Accounts as “financial assets” within the meaning of
Section 8-102(a)(9) of the UCC to the fullest extent permitted by the UCC; 
 (ii) indicate by book entry that a
financial asset has been credited to the relevant Trust Account, and when receiving a financial asset from the Issuer or acquiring a financial asset for the Issuer, shall accept it for credit to the relevant Account; and 

(iii) comply with any “entitlement orders” (within the meaning of
Section 8-102(a)(8) of the UCC) originated by the Indenture Trustee with respect to the Trust Accounts without further consent by the Issuer. 

Section 6.14 Representations and Warranties of the Indenture Trustee. The Indenture Trustee hereby represents that: 

(a) the Indenture Trustee is duly organized and validly existing as a banking corporation duly organized in good standing under the laws of the
State of New York with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted; 

(b) the Indenture Trustee has the power and authority to execute and deliver this Indenture and to carry out its terms; and the execution,
delivery and performance of this Indenture have been duly authorized by the Indenture Trustee by all necessary corporate action; 
 (c) the
consummation of the transactions contemplated by this Indenture and the fulfillment of the terms hereof do not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a
default under the articles of organization or bylaws of the Indenture Trustee or any agreement or other instrument to which the Indenture Trustee is a party or by which it is bound; and 

(d) there are no pending or, to the best of its knowledge, threatened actions or proceedings against the Indenture Trustee before any court,
administrative agency or tribunal which, if determined adversely to it, would materially and adversely affect its ability, either in its individual capacity or as Indenture Trustee, as the case may be, to perform its obligations under this Indenture
or the Basic Documents. 
 Section 6.15 Exchange Act Rule 17g-5 Procedures. Prior to an Event of Default, the Indenture
Trustee shall not communicate with (including verbal communication) or provide information to any Rating Agency regarding anything related to this Indenture without prior consultation with the Depositor to ensure compliance with Rule 17g-5.
With respect to any document, notice or other information required pursuant to this Indenture to be sent by the Indenture Trustee to any Rating Agency, the Indenture Trustee agrees to provide any such document, notice or other information to the
Depositor for posting on its Rule 17g-5 Website. The Depositor shall promptly confirm to the Indenture Trustee any such document, notice or other information has been posted to the Rule 17g-5 Website as a condition to the Indenture Trustee
providing such document, notice or other information to any Rating Agency or Holder. 

  
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Notwithstanding anything to the contrary in this Indenture, the Indenture Trustee shall have no obligation to deliver such document, notice or other information to the Rating Agencies until the
Indenture Trustee has received written confirmation from the Depositor of the posting of such document, notice or other information by the Depositor to the Rule 17g-5 Website, and the Indenture Trustee shall not be liable for any failure to
deliver such document, notice or other information to the Rating Agencies prior to any applicable deadline in this Indenture where such failure is caused by any failure or inability of the Depositor timely to provide such written confirmation. 

Section 6.16 Preferential Collection Claims Against Issuer. The Indenture Trustee shall comply with TIA Section 311(a),
excluding any creditor relationship listed in TIA Section 311(b). An Indenture Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated. 

ARTICLE VII 
 NOTEHOLDERS’
LISTS AND REPORTS 
 Section 7.01 Issuer to Furnish Indenture Trustee Names and Addresses of Noteholders. The Issuer will
furnish or cause to be furnished to the Indenture Trustee (i) not more than three (3) days after the earlier of (a) each Record Date and (b) three (3) months after the last Record Date, a list, in such form as the Indenture
Trustee may reasonably require, of the names and addresses of the Noteholders as of such Record Date, and (ii) at such other times as the Indenture Trustee may request in writing, within thirty (30) days after receipt by the Issuer of any
such request, a list of similar form and content as of a date not more than ten (10) days prior to the time such list is furnished; provided, however, that so long as the Indenture Trustee is the Registrar or the Notes are issued as Book-Entry
Notes, no such list shall be required to be furnished. Until such time as the Indenture Trustee is provided with a replacement list, the Indenture Trustee shall be entitled to fully rely and shall have no liability for relying on the most recently
provided list and after the Indenture Trustee is provided with such a replacement list, the Indenture Trustee shall be entitled to fully rely and shall have no liability in relying on such replacement list. 

Section 7.02 Preservation of Information; Communications to Noteholders. The Indenture Trustee shall preserve, in as current a
form as is reasonably practicable, the names and addresses of the Noteholders contained in the most recent list furnished to the Indenture Trustee as provided in Section 7.01 and the names and addresses of Noteholders received by the
Indenture Trustee in its capacity as Registrar; provided, however, that so long as the Indenture Trustee is the Registrar or the Notes are issued as Book-Entry Notes, no such list shall be required to be preserved or maintained. The Indenture
Trustee may destroy any list furnished to it as provided in such Section 7.01 upon receipt of a new list so furnished. Noteholders may communicate pursuant to TIA Section 312(b) with other Noteholders with respect to their rights under
this Indenture or under the Notes. The Issuer, the Indenture Trustee and the Note Registrar shall have the protection of TIA Section 312(c). 

Section 7.03 Noteholder Lists. The Registrar shall preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of 

  
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Noteholders, which list, upon request, will be made available to the Indenture Trustee insofar as the Indenture Trustee is no longer the Registrar. Upon written request of any Noteholder made for
purposes of communicating with other Noteholders with respect to their rights under this Indenture, the Registrar shall promptly furnish such Noteholder with a list of the other Noteholders of record identified in the Registrar at the time of the
request. Every Noteholder, by receiving such access, agrees with the Registrar that the Registrar will not be held accountable in any way by reason of the disclosure of any information as to the names and addresses of any Noteholder regardless of
the source from which such information was derived. 
 Section 7.04 Access to Certain Documentation and Information. 

(a) The Indenture Trustee shall make available to the Noteholders, upon prior written request, a copy of any of the Basic Documents. The
Indenture Trustee shall deliver or otherwise make available to each Noteholder a copy of each Servicer’s Monthly Certificate delivered pursuant to Section 4.09 of the Sale and Servicing Agreement, a copy of Servicer’s Annual
Certification delivered pursuant to Section 4.10 of the Sale and Servicing Agreement, and a copy of each annual accountant’s report delivered pursuant to Section 4.11 of the Sale and Servicing Agreement. 

(b) Within sixty (60) days after the end of each calendar year, the Indenture Trustee shall make available to each Person who at any time
during the calendar year was a Holder of a Note a statement containing information regarding payments of principal, interest and other amounts on such Person’s Notes, aggregated for such calendar year or the applicable portion thereof during
which such person was a Noteholder. Such obligation shall be deemed to have been satisfied to the extent that substantially comparable information is provided by the Issuer or the Indenture Trustee pursuant to any requirements of the Code as are
from time to time in force. The above referenced information will be provided to the Indenture Trustee by the Issuer or the Administrator on its behalf. 

Section 7.05 Reports by Indenture Trustee. If required by TIA Section 313(a), within 60 days after each December 31,
beginning with December 31, 2015, the Indenture Trustee shall mail to each Noteholder as required by TIA Section 313(c), a brief report dated as of such date that complies with TIA Section 313(a). The Indenture Trustee shall also
comply with TIA Section 313(b). The Indenture Trustee shall provide to the Administrator and the Servicer, to be filed by the Administrator or the Servicer with the Commission and each stock exchange, if any, on which the Notes are listed, a
copy of each report mailed to Noteholders pursuant to this Indenture. The Issuer shall notify the Indenture Trustee if and when the Notes are listed on any stock exchange. 

Section 7.06 Reports by Issuer. 

(a) The Issuer shall: 

(i) file with the Indenture Trustee, within 15 days after the Issuer is required to file the same with the Commission, copies
of the annual reports and the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) that the Issuer may be required to file with the
Commission pursuant to Section 13 or 15(d) of the Exchange Act; 

  
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 (ii) file with the Indenture Trustee and the Commission, in accordance with rules
and regulations prescribed from time to time by the Commission, such additional information, documents and reports with respect to compliance by the Issuer with the conditions and covenants of this Indenture as may be required from time to time by
such rules and regulations; and 
 (iii) supply to the Indenture Trustee (and the Indenture Trustee shall make available to
all Noteholders described in TIA Section 313(c)) such summaries of any information, documents and reports required to be filed by the Issuer pursuant to clauses (i) and (ii) of this Section 7.06(a) and by the rules and
regulations prescribed from time to time by the Commission. 
 (b) Unless the Issuer otherwise determines, the fiscal year of the Issuer
shall end on December 31 of each year. 
 ARTICLE VIII 

ACCOUNTS, DISBURSEMENTS AND RELEASES 

Section 8.01 Collection of Money. Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or
delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture and the
Sale and Servicing Agreement. The Indenture Trustee shall apply all such money received by it as provided in this Indenture and the Sale and Servicing Agreement. Except as otherwise expressly provided in this Indenture, if any default occurs in the
making of any payment or performance under any agreement or instrument that is part of the Collateral, the Indenture Trustee may (and at the written direction of the Noteholders representing a majority of the Note Balance of the Outstanding Notes of
the Controlling Class shall) take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a
Default or Event of Default under this Indenture and any right to proceed thereafter as provided in Article V. 
 Section 8.02
Trust Accounts: Payment of Principal and Interest. 
 (a) On or prior to the Closing Date, the Issuer shall cause the Indenture
Trustee to establish and maintain the Trust Accounts for the benefit of the Noteholders as provided in Section 5.01 of the Sale and Servicing Agreement. 

(b) On the day required by Section 5.02 of the Sale and Servicing Agreement, all Collections will be deposited in the Collection Account
as provided in Section 5.02 of the Sale and Servicing Agreement. On each Payment Date, all amounts required to be distributed from the Collection Account and Principal Distribution Account pursuant to Section 5.04 of the Sale and Servicing
Agreement will be transferred from such accounts and distributed in accordance 

  
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with Section 5.04 of the Sale and Servicing Agreement; provided, however, that following the occurrence and during the continuation of an Event of Default which has resulted in an
acceleration of the Notes, all amounts on deposit in the Collection Account, the Principal Distribution Account and Reserve Account shall be applied pursuant to Section 5.04. 

(c) Interest on and principal of each Note shall be payable in accordance with the instruction of the Servicer given to the Indenture Trustee
from and to the extent of funds available in accordance with Section 5.04 of the Sale and Servicing Agreement. The final payment of principal of and interest on each Note (or payment of the Redemption Price thereof in the case of a Note called
for redemption pursuant to Article X hereof) shall be payable only upon presentation and surrender thereof at the Corporate Trust Office or at the office of any Paying Agent. 

(d) No interest will accrue with respect to any Note from and after the related Final Scheduled Payment Date with respect thereto to the
extent that all amounts owing with respect to such Notes were Paid In Full on such Payment Date. 
 (e) So long as the Indenture Trustee
shall be the Paying Agent, the Indenture Trustee shall make payments of principal on the Notes from amounts deposited into the Principal Distribution Account and shall make payment of interest on the Notes from amounts deposited into the Collection
Account; provided, however, that if the Owner Trustee has removed the Indenture Trustee as the Paying Agent, the Indenture Trustee shall distribute such amounts to the Paying Agent as instructed by the Owner Trustee. If an Event of Default has
occurred and the Notes have been accelerated under Section 5.02, then amounts then held in the Collection Account shall be treated by the Indenture Trustee as money or property collected pursuant to Article V and shall be applied as
provided in Section 5.04(b). 
 Section 8.03 General Provisions Regarding Trust Accounts. The Indenture Trustee shall not
in any way be held liable by reason of any insufficiency in any of the Trust Accounts resulting from any loss on any Permitted Investment included therein except for losses attributable to the Indenture Trustee’s failure to make payments on
such Permitted Investments issued by the Indenture Trustee, in its commercial capacity as principal obligor and not as trustee, in accordance with their terms. 

Section 8.04 Release of Collateral. 

(a) Subject to the payment of its fees and expenses pursuant to Section 6.07, the Indenture Trustee may, and when required by the
provisions of this Indenture shall, execute instruments provided to it to release property from the Lien of this Indenture, or convey the Indenture Trustee’s interest in the same, in a manner and under circumstances that are not inconsistent
with the provisions of this Indenture. No party relying upon an instrument executed by the Indenture Trustee as provided in this Article shall be bound to ascertain the Indenture Trustee’s authority, inquire into the satisfaction of any
conditions precedent or see to the application of any monies. 
 (b) The Indenture Trustee shall, at such time as there are no Notes
Outstanding and all sums due the Indenture Trustee pursuant to Section 6.07 have been paid in full, release any 

  
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remaining portion of the Collateral from the lien of this Indenture and release to the Issuer or any other Person entitled thereto any funds then on deposit in the Trust Accounts. The Indenture
Trustee shall release property from the lien of this Indenture pursuant to this Section 8.04(a) only upon receipt by it of an Issuer Request accompanied by an Officer’s Certificate and an Opinion of Counsel, and (if required by the TIA or
Section 11.01) Independent Certificates in accordance with TIA Sections 314(c) and 314(d)(1), and otherwise in accordance with the applicable requirements of Section 11.01. 

(c) The Issuer agrees, upon request by the Servicer and representation by the Servicer that it has complied with the procedure in
Section 9.01 of the Sale and Servicing Agreement, to render the Issuer Request to the Indenture Trustee in accordance with Sections 4.04 and 11.01, and take such other actions as are required in such Sections. 

Section 8.05 Opinion of Counsel and Officer’s Certificate. The Indenture Trustee shall receive at least seven
(7) days’ prior written notice when requested by the Issuer to take any action pursuant to Section 8.04(a), accompanied by copies of any instruments involved, and the Indenture Trustee shall also require, except in connection with an
action contemplated by Section 8.04(b), as a condition to such action, an Opinion of Counsel and an Officer’s Certificate, stating the legal effect of any such action, outlining the steps required to complete the same, and concluding that
all conditions precedent to the taking of such action have been complied with and such action will not materially and adversely impair the security for the Notes or the rights of the Noteholders in contravention of the provisions of this Indenture;
provided, however, that such Opinion of Counsel shall not be required to express an opinion as to the fair value of the Collateral. Counsel rendering any such opinion may rely, without independent investigation, on the accuracy and validity of any
certificate or other instrument delivered to the Indenture Trustee in connection with any such action. 
 ARTICLE IX 

SUPPLEMENTAL INDENTURES 

Section 9.01 Supplemental Indentures With Consent of the Noteholders. 

(a) Except as permitted by Section 9.02, the Issuer and the Indenture Trustee, when authorized by an Issuer Order, may, subject to
satisfaction of the Rating Agency Condition and with the consent of the Noteholders representing a majority of the Note Balance of the Outstanding Notes of the Controlling Class, by Act of such Holders delivered to the Issuer and the Indenture
Trustee, enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, this Indenture or of modifying in any manner the rights of the Holders
of the Notes under this Indenture; provided that the Issuer shall have received a Tax Opinion (and shall have delivered copies thereof to the Indenture Trustee); provided, further, that no such supplemental indenture shall, without the consent of
the Holder of each outstanding Note affected thereby: 
 (i) change any Final Scheduled Payment Dates, the date of payment of
any installment of principal of or interest on any Note, or reduce the principal amount thereof, the Interest Rate thereon or the Redemption Price with respect thereto, change the 

  
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provisions of this Indenture relating to the application of collections on, or the proceeds of the sale of, the Collateral to payment of principal of or interest on the Notes, or change any place
of payment where, or the coin or currency in which, any Note or the interest thereon is payable, or impair the right to institute suit for the enforcement of the provisions of this Indenture requiring the application of funds available therefor, as
provided in Article V, to the payment of any such amount due on the Notes on or after the respective due dates thereof (or, in the case of redemption, on or after the Redemption Date); 

(ii) reduce the percentage of the Note Balance or the Note Balance of the Outstanding Notes of the Controlling Class, the
consent of the Holders of Notes of which is required for any such supplemental indenture, or the consent of the Holders of Notes of which is required for any waiver of compliance with certain provisions of, or certain defaults and their consequences
provided for in, this Indenture; 
 (iii) change the definition of “Controlling Class,” “Note Balance”,
“Outstanding” or any other provision hereof specifying the number or percentage of Holders required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder; 

(iv) modify or alter the provisions of this Indenture regarding the voting of Notes held by the Issuer, any other obligor on
the Notes, the Depositor or any Affiliate of any of them, or definition of “Notes”; 
 (v) reduce the percentage of
the Notes required to be represented to direct the Indenture Trustee to direct the Issuer to sell or liquidate the Collateral pursuant to Section 5.04; 

(vi) modify any provision of this Section 9.01 except to increase any percentage specified herein or to provide that
certain additional provisions of this Indenture or the other Basic Documents cannot be modified or waived without the consent of the Holder of each Note affected thereby; 

(vii) modify any of the provisions of this Indenture in such manner as to affect the calculation of the amount of any payment
of interest or principal due on any Note on any Payment Date (including the calculation of any of the individual components of such calculation) or to affect the rights of the Noteholders to the benefit of any provisions for the mandatory redemption
of the Notes contained herein; or 
 (viii) permit the creation of any lien ranking prior to or on a parity with the lien of
this Indenture with respect to any part of the Collateral or, except as otherwise permitted or contemplated herein, terminate the lien of this Indenture on any property at any time subject hereto or deprive the Noteholder of the security provided by
the lien of this Indenture. 
 (b) The Indenture Trustee may in its discretion or at the advice of counsel determine whether or not any
Notes would be affected by any supplemental indenture and any such determination shall be conclusive upon the Holders of all Notes, whether theretofore or thereafter 

  
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authenticated and delivered hereunder. The Indenture Trustee shall not be liable for any such determination made in good faith. It shall not be necessary for any Act of Noteholders under this
Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 

(c) Promptly after the execution by the Issuer and the Indenture Trustee of any supplemental indenture pursuant to this Section 9.01, the
Indenture Trustee shall mail to the Holders of the Notes to which such amendment or supplemental indenture relates a notice setting forth in general terms the substance of such supplemental indenture. Any failure of the Issuer to mail such notice,
or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture. 
 Section 9.02
Supplemental Indentures Without Consent of Noteholders. 
 (a) Without the consent of the Noteholders or any other Person, but with
prior written notice to the Rating Agencies, the Issuer and the Indenture Trustee, when authorized by an Issuer Order, at any time and from time to time, may enter into one or more indentures supplemental hereto, (which shall conform to the
provisions of the Trust Indenture Act as in force at the date of the execution thereof), in form satisfactory to the Indenture Trustee, for any of the following purposes: 

(i) to correct or amplify the description of any property at any time subject to the lien of this Indenture, or better to
assure, convey and confirm unto the Indenture Trustee any property subject or required to be subjected to the lien of this Indenture, or to subject additional property to the lien of this Indenture; 

(ii) to evidence the succession, in compliance with the applicable provisions hereof, of another Person to the Issuer, and the
assumption by any such successor of the covenants of the Issuer contained herein and in the Notes; 
 (iii) to add to the
covenants of the Issuer, for the benefit of the Noteholders, or to surrender any right or power herein conferred upon the Issuer; 

(iv) to convey, transfer, assign, mortgage or pledge any property to or with the Indenture Trustee; 

(v) to cure any ambiguity, to correct or to supplement any provision herein or in any supplemental indenture which may be
inconsistent with any other provision herein or in any supplemental indenture or in any (A) offering document used in connection with the initial offer and sale of the Notes or to add any provisions to or change in any manner or eliminate any
of the provisions of this Indenture which will not be inconsistent with other provisions of this Indenture or (B) other Basic Document with respect to matters or questions arising under this Indenture or in any supplemental indenture; 

(vi) to make any other provisions with respect to matters or questions arising under this Indenture or in any supplemental
indenture; provided, that such action shall not materially adversely affect the interests of the Noteholders; 

  
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 (vii) to evidence and provide for the acceptance of the appointment hereunder by
a successor trustee with respect to the Notes and to add to or change any of the provisions of this Indenture as shall be necessary to facilitate the administration of the trusts hereunder by more than one trustee, pursuant to the requirements of
Article VI; or 
 (viii) to amend Article XII as set forth in Sections 12.01 and 12.04; 

(ix) to add, modify or eliminate such provisions as may be necessary or advisable in order to enable (A) the transfer to
the Issuer of all or any portion of the Receivables to be derecognized under U.S. generally accepted accounting principles by the Seller to the Issuer, (B) the Issuer to avoid becoming a member of the Seller’s consolidated group under
U.S. generally accepted accounting principles or (C) the Seller or any of its Affiliates to otherwise comply with or obtain more favorable treatment under any law or regulation or any accounting rule or principle (whether now or in the
future in effect); or 
 (x) to modify, eliminate or add to the provisions of this Indenture to such extent as shall be
necessary to effect the qualification of this Indenture under the TIA or under any similar federal statute hereafter enacted and to add to this Indenture such other provisions as may be expressly required by the TIA or the rules and regulations of
the Commission; 
 provided, however, that no such supplemental indenture (i) may materially adversely affect the interests of any Noteholder and
(ii) will be permitted unless (A) the Rating Agency Condition shall have been satisfied with respect to such action, or (B) a Tax Opinion is delivered to the Indenture Trustee. The Indenture Trustee is hereby authorized to join in the
execution of any such supplemental indenture and to make any further appropriate agreements and stipulations that may be therein contained. 

(b) A supplemental indenture shall be deemed not to materially adversely affect the interests of any Noteholder if (i) the Rating Agency
Condition has been satisfied with respect to such supplemental indenture, and (ii) the Person requesting such supplemental indenture obtains and delivers to the Indenture Trustee an Opinion of Counsel (which counsel may not be in-house counsel
to the Servicer or the Depositor) to the effect that the supplemental indenture would not materially adversely affect the interests of any Noteholder. 

Section 9.03 Execution of Supplemental Indentures. In executing, or permitting the additional trusts created by, any supplemental
indenture permitted by this Article IX or the modification thereby of the trusts created by this Indenture, the Indenture Trustee shall be entitled to receive, and subject to Sections 6.01 and 6.02, shall be fully protected in relying upon, an
Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture and that the conditions precedent thereto have been complied with. The Indenture Trustee may, but shall not be obligated to,
enter into any such supplemental indenture that materially affects the Indenture Trustee’s own rights, duties, liabilities, indemnities or immunities under this Indenture or otherwise. The Issuer shall provide a fully executed copy of any
supplemental indentures to this Indenture to each Rating Agency. 

  
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 Section 9.04 Effect of Supplemental Indentures. Upon the execution of any
supplemental indenture pursuant to the provisions hereof, this Indenture shall be and shall be deemed to be modified and amended in accordance therewith with respect to the Notes affected thereby, and the respective rights, limitations of rights,
obligations, duties, liabilities and immunities under this Indenture of the Indenture Trustee, the Issuer and the Noteholders shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and
amendments, and all of the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes. 

Section 9.05 Reference in Notes to Supplemental Indentures. Notes authenticated and delivered after the execution of any
supplemental indenture pursuant to this Article IX may, and if required by the Indenture Trustee shall, bear a notation in form approved by the Indenture Trustee as to any matter provided for in such supplemental indenture. If the Issuer or the
Indenture Trustee shall so determine, new Notes so modified as to conform, in the opinion of the Indenture Trustee and the Issuer, to any such supplemental indenture may be prepared and executed by the Issuer and authenticated and delivered by the
Indenture Trustee in exchange for the Outstanding Notes. 
 Section 9.06 Conformity with Trust Indenture Act. Every amendment of
this Indenture and every supplemental indenture executed pursuant to this Article shall conform to the requirements of the TIA as then in effect so long as this Indenture shall then be qualified under the TIA. 

ARTICLE X 
 REDEMPTION OF NOTES

 Section 10.01 Redemption In Whole. 

(a) The Notes are subject to redemption in whole, but not in part, at the direction of the Servicer pursuant to Section 9.01 of the Sale
and Servicing Agreement, on any Payment Date on which the Servicer exercises its option to purchase the Collateral (other than the Reserve Account) pursuant to said Section 9.01, for a purchase price equal to the Redemption Price;
provided that (i) as of the last day of the related Collection Period the Pool Balance as of such date is 10% or less of the Cutoff Date Pool Balance, and (ii) the sum of the Optional Purchase Price and the Available Funds as of
such Redemption Date would be sufficient to pay (x) the amounts set forth under Sections 5.04(a)(i) through 5.04(a)(vii) and Section 5.04(a)(x) of the Sale and Servicing Agreement and (y) the Note Balance of the Notes (after
giving effect to payments described in the preceding clause (x)). 
 (b) Each of the Notes is subject to redemption in whole, but not
in part, on any Payment Date on which the sum of the amounts in the Reserve Account and the remaining Available Funds after the payments under Sections 5.04(a)(i) through 5.04(a)(vii) and Section 5.04(a)(x) would be sufficient to pay in full
the Note Balance of all of the outstanding Notes as determined by the Servicer. On such Redemption Date, (i) the Indenture Trustee, upon written direction from the Servicer, shall transfer all amounts on deposit in the Reserve Account to the
Collection Account and (ii) the outstanding Notes shall be redeemed in whole, but not in part. 

  
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 (c) The Servicer or the Issuer shall furnish the Rating Agencies and the Indenture Trustee notice
of such redemption. If the Notes are to be redeemed pursuant to this Section 10.01, the Servicer shall furnish notice of such redemption to the Indenture Trustee not later than twenty (20) days prior to the Redemption Date and shall
deposit on the Business Day prior to the Redemption Date with the Indenture Trustee in the Collection Account and the Principal Distribution Account, as applicable, the Redemption Price of the Notes to be redeemed, whereupon all such Notes shall be
due and payable on the Redemption Date upon the furnishing of a notice complying with Section 10.02 to each Holder of the Notes. 

Section 10.02 Form of Redemption Notice. 

(a) Notice of redemption under Section 10.01 shall be forwarded on by the Indenture Trustee at the written direction and at the expense
of the Servicer by first-class mail, postage prepaid, or by facsimile, and mailed or transmitted not later than ten (10) days prior to the applicable Redemption Date to each registered Holder of Notes, as of the close of business on the Record
Date preceding the applicable Redemption Date, at such Holder’s address or facsimile number appearing in the Register. All notices of redemption under Section 10.01 and this Section 10.02 shall state: 

(i) the Redemption Date; 

(ii) the Redemption Price; 

(iii) that the Record Date otherwise applicable to that Redemption Date is not applicable and that payments will be made only
upon presentation and surrender of those Notes; 
 (iv) the place where such Notes are to be surrendered for payment of the
Redemption Price (which shall be the office or agency of the Issuer to be maintained as provided in Section 3.02); and 

(v) that interest on the Notes shall cease to accrue on the Redemption Date. 

(b) Failure to give notice of redemption, or any defect therein, to any Holder of any Note shall not impair or affect the validity of the
redemption of any other Note. 
 Section 10.03 Notes Payable on Redemption Date. The Notes shall, following notice of redemption
pursuant to Section 10.02, on the Redemption Date become due and payable at the Redemption Price and (unless the Issuer shall default in the payment of the Redemption Price) no interest shall accrue on the Redemption Price for any period after
the date to which accrued interest is calculated for purposes of calculating the Redemption Price. 

  
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 ARTICLE XI 

MISCELLANEOUS 

Section 11.01 Compliance Certificates and Opinions, Etc. 

(a) Upon Issuer Request, the Issuer shall furnish to the Indenture Trustee (i) an Officer’s Certificate stating that the Issuer has
complied with all conditions precedent, if any, provided for in this Indenture relating to the proposed action, (ii) an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied
with, and (iii) if required by Section 11.01(b)(i) or the TIA, an Independent Certificate, except that, in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision
of this Indenture, no additional certificate or opinion need be furnished. 
 Every certificate or opinion with respect to compliance with a
condition or covenant provided for in this Indenture shall include: 
 (i) a statement that each signatory of such
certificate or opinion has read or has caused to be read such covenant or condition and the definitions herein relating thereto; 

(ii) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; 
 (iii) a statement that, in the opinion of each such signatory, such
signatory has made such examination or investigation as is necessary to enable such signatory to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(iv) a statement as to whether, in the opinion of each such signatory, such condition or covenant has been complied with. 

(b) Prior to the deposit of any Collateral or other property or securities with the Indenture Trustee that is to be made the basis for the
release of any property or securities subject to the lien of this Indenture, the Issuer shall, in addition to any obligation imposed in Section 11.01 or elsewhere in this Indenture, furnish to the Indenture Trustee an Officer’s Certificate
certifying or stating the opinion of each person signing such certificate as to the fair value (as of a date no more than thirty (30) days prior to such deposit) to the Issuer of the Collateral or other property or securities to be so
deposited. 
 (i) Whenever the Issuer is required to furnish to the Indenture Trustee an Officer’s Certificate
certifying or stating the opinion of any signer thereof as to the matters described in clause (b) above, the Issuer shall also deliver to the Indenture Trustee an Independent Certificate as to the same matters, if the fair value to the Issuer
of the securities to be so deposited and of all other such securities made the basis of any such withdrawal or release since the commencement of the then-current fiscal year of the 

  
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Issuer is 10% or more of the Note Balance of all Notes, but such a certificate need not be furnished with respect to any securities so deposited, if the fair value thereof to the Issuer as set
forth in the related Officer’s Certificate is less than $25,000 or less than 1% of the Note Balance of all Notes. 

(ii) Whenever any property or securities are to be released from the lien of this Indenture, the Issuer shall also furnish to
the Indenture Trustee an Officer’s Certificate certifying or stating the opinion of each person signing such certificate as to the fair value (as of a date no more than thirty (30) days prior to such release) of the property or securities
proposed to be released and stating that in the opinion of such person, the proposed release will not impair the security under this Indenture in contravention of the provisions hereof. 

(iii) Other than with respect to the release of the lien of this Indenture on any Collateral with respect to which payment of
the Repurchase Price has been made to the Issuer, the Issuer is required to furnish to the Indenture Trustee an Officer’s Certificate certifying or stating the opinion of any signer thereof as to the matters described in clause (ii) above,
the Issuer shall also furnish to the Indenture Trustee an Independent Certificate as to the same matters if the fair value of the property or securities and of all other property, other than property as contemplated by clause (iv) below, or
securities released from the lien of this Indenture since the commencement of the then-current calendar year, as set forth in the certificates required by clause (ii) above and this clause (iii), equals 10% or more of the Note Balance of
all Notes, but such certificate need not be furnished in the case of any release of property or securities if the fair value thereof as set forth in the related Officer’s Certificate is less than $25,000 or less than 1% of the Note Balance of
all Notes. 
 (iv) Notwithstanding Section 4.04 or any other provision of this Section 11.01, the Issuer may,
without compliance with the requirements of the other provisions of this Section 11.01, (A) collect, liquidate, sell or otherwise dispose of Receivables and Financed Vehicles as and to the extent permitted or required by the Basic
Documents and (B) make cash payments out of the Trust Accounts as and to the extent permitted or required by the Basic Documents. 

Section 11.02 Form of Documents Delivered to Indenture Trustee. In any case where several matters are required to be certified by,
or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may
certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 

Any certificate of an Authorized Officer of the Issuer may be based, insofar as it relates to legal matters, upon an opinion of, or
representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the opinion or representations with respect to the matters upon which such opinion is based are erroneous. Any such certificate of an
Authorized Officer or Opinion of Counsel may be based, insofar as it relates to factual matters, 

  
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upon a certificate, or representations by, an officer or officers of the Servicer, the Depositor, the Issuer or the Administrator, stating that the information with respect to such factual
matters is in the possession of the Servicer, the Depositor, the Issuer or the Administrator, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or representations with respect to such matters are
erroneous. 
 Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements,
opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
 Whenever in this
Indenture, in connection with any application or certificate or report to the Indenture Trustee, it is provided that the Issuer shall deliver any document as a condition of the granting of such application, or as evidence of the Issuer’s
compliance with any term hereof, it is intended that the truth and accuracy, at the time of the granting of such application or at the effective date of such certificate or report (as the case may be), of the facts and opinions stated in such
document shall in such case be conditions precedent to the right of the Issuer to have such application granted or to the sufficiency of such certificate or report. The foregoing shall not, however, be construed to affect the Indenture
Trustee’s right to rely upon the truth and accuracy of any statement or opinion contained in any such document as provided in Article VI. 

Section 11.03 Acts of Noteholders. 

(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by
Noteholders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Noteholders in person or by agents duly appointed in writing; and except as herein otherwise expressly provided such action shall
become effective when such instrument or instruments are delivered to the Indenture Trustee and, where it is hereby expressly required, to the Issuer. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein
sometimes referred to as the “Act” of the Noteholders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture
and (subject to Section 6.01) conclusive in favor of the Indenture Trustee and the Issuer, if made in the manner provided in this Section 11.03. 

(b) The fact and date of the execution by any person of any such instrument or writing may be proved in any manner that the Indenture Trustee
deems sufficient. 
 (c) The ownership of Notes shall be proved by the Register. 

(d) Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Notes shall bind the Holder of
every Note issued upon the registration thereof or in exchange therefor or in lieu thereof, in respect of anything done, omitted or suffered to be done by the Indenture Trustee or the Issuer in reliance thereon, whether or not notation of such
action is made upon such Note. 
 Section 11.04 Notices, etc., to Indenture Trustee, Issuer, Depositor and Rating Agencies. 

  
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 (a) Any request, demand, authorization, direction, notice, consent, waiver or Act of Noteholders
or other documents provided or permitted by this Indenture shall be in writing and, if such request, demand, authorization, direction, notice, consent, waiver or Act of Noteholders or other document is to be made upon, given or furnished to or filed
with: 
 (i) the Indenture Trustee by any Noteholder or by the Issuer, shall be sufficient for every purpose hereunder if
made, given, furnished or filed in writing to or with the Indenture Trustee at its Corporate Trust Office; or 
 (ii) the
Issuer by the Indenture Trustee or by any Noteholder, shall be sufficient for every purpose hereunder if in writing and mailed first-class, postage prepaid to the Issuer addressed to: California Republic Auto Receivables Trust 2015-2, in care of
Wilmington Trust, National Association, as Owner Trustee, Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890-0001, Attention: Corporate Trust Administration, or at any other address
previously furnished in writing to the Indenture Trustee by the Issuer or the Administrator. The Issuer shall promptly transmit any notice received by it from the Noteholders to the Indenture Trustee. 

(b) Notices required to be given to the Rating Agencies by the Issuer, the Indenture Trustee or the Owner Trustee shall be in writing and,
upon notice that it has been posted to the Depositor’s Rule 17g-5 Website, personally delivered, mailed by certified mail, return receipt requested or delivered by e-mail, to DBRS, at the following address: DBRS, Inc., 140 Broadway, New
York, New York 10005 (e-mail: abs_surveillance@dbrs.com); or to Standard & Poor’s at the following address: Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business, 55 Water
Street, New York, New York 10041, Attention: Asset Backed Surveillance Department (e-mail: Servicer_reports@sandp.com), or as to each of the foregoing, at such other address as shall be designated by written notice to the other parties. 

(c) All demands, notices, communications and instructions upon or to the Depositor under this Agreement shall be in writing, personally
delivered, faxed and followed by first class mail, or mailed by certified mail, return receipt requested, and shall be deemed to have been duly given upon receipt by, in the case of the Depositor, California Republic Funding, LLC, 18400 Von Karman,
Suite 1100, Irvine, California 92612, Attention: General Counsel, Facsimile No. (949) 270-9799; with a copy to California Republic Bank, 18400 Von Karman, Suite 1100, Irvine, California 92612, Attention: General Counsel, Facsimile
No. (949) 270-9799. 
 Section 11.05 Notices to Noteholders; Waiver. Where this Indenture provides for any notice, report
or other communication to any Noteholders, such notice, report or other communication shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class, postage prepaid to each Noteholder affected by such
event, at such Holder’s address as it appears on the Register, not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice, report or other communication and shall be deemed given only upon
receipt. In any case where notice to Noteholders is given by mail, neither the failure to mail such notice nor any defect in any notice so mailed to any particular Noteholder shall affect the sufficiency of such notice with respect to other
Noteholders, and any notice that is mailed in the manner herein provided shall conclusively be presumed to have been duly given. 

  
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 Where this Indenture provides for notice in any manner, such notice may be waived in writing by
any Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Noteholders shall be filed with the Indenture Trustee but such filing shall not be a condition
precedent to the validity of any action taken in reliance upon such a waiver. 
 In case, by reason of the suspension of regular mail
service as a result of a strike, work stoppage or similar activity, it shall be impractical to mail notice of any event to Noteholders when such notice is required to be given pursuant to any provision of this Indenture, then any manner of giving
such notice as shall be reasonably satisfactory to the Indenture Trustee and actually received by such recipient shall be deemed to be a sufficient giving of such notice. 

Where this Indenture provides for notice to the Rating Agencies, failure to give such notice shall not affect any other rights or obligations
created hereunder, and shall not under any circumstance constitute a Default or Event of Default. 
 Upon notice from the Issuer that they
have been posted on the Depositor’s Rule 17g-5 Website, the Noteholders shall be provided with copies of all notices, reports or other communication required to be made upon, given, furnished to or filed with the Indenture Trustee or the
Issuer, which copies shall be provided to the Noteholders by the initial recipient thereof. 
 Section 11.06 Alternate Payment and
Notice Provisions. Notwithstanding any provision of this Indenture or any of the Notes to the contrary, the Issuer may enter into any agreement with any Holder of a Note providing for a method of payment, or notice by the Indenture Trustee or
any Paying Agent to such Holder, that is different from the methods provided for in this Indenture for such payments or notices. The Issuer will furnish to the Indenture Trustee a copy of each such agreement and the Indenture Trustee will cause
payments to be made and notices to be given in accordance with such agreements. 
 Section 11.07 Effect of Headings and Table of
Contents. The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 

Section 11.08 Successors and Assigns. All covenants and agreements in this Indenture and the Notes by the Issuer shall bind the
Issuer’s successors and assigns, whether so expressed or not. All agreements of the Indenture Trustee in this Indenture shall bind the Indenture Trustee’s successors, co-trustees and agents. 

Section 11.09 Severability. In case any provision in this Indenture or in the Notes shall be invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions of this Indenture and the Notes shall not in any way be affected or impaired thereby. 

Section 11.10 Benefits of Indenture. Nothing in this Indenture or in the Notes, express or implied, shall give to any Person,
other than the parties hereto and their permitted successors hereunder, the Noteholders and Owners and their respective successors and assigns, any other party secured hereunder, and any other Person with an ownership interest in any part of the
Collateral, any benefit or any legal or equitable right, remedy or claim under this Indenture. 

  
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 Section 11.11 Legal Holidays. In any case where the date on which any payment is due
shall not be a Business Day, then (notwithstanding any other provision of the Notes or this Indenture) payment need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on the date
on which nominally due, and no interest shall accrue for the period from and after any such nominal date. 
 Section 11.12 GOVERNING
LAW. THIS INDENTURE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (EXCEPT FOR SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK), AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 Section 11.13
Counterparts. This Indenture may be executed in any number of counterparts (including by facsimile or other electronic transmission), each of which so executed shall be deemed to be an original, but all such counterparts shall together
constitute but one and the same instrument. 
 Section 11.14 Recording of Indenture. If this Indenture is subject to recording
in any appropriate public recording offices, such recording is to be effected by the Issuer and at the expense of the Servicer accompanied by an Opinion of Counsel to the effect that such recording is necessary either for the protection of the
Noteholders or any other Person secured hereunder or for the enforcement of any right or remedy granted to the Indenture Trustee under this Indenture. 

Section 11.15 Trust Obligation. No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer,
the Owner Trustee or the Indenture Trustee on the Notes or under this Indenture or any certificate delivered in connection herewith or therewith, against (i) the Indenture Trustee or the Owner Trustee in its individual capacity, (ii) any
owner of a beneficial interest in the Issuer, solely in such capacity, including the Depositor, or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of the Indenture Trustee or the Owner Trustee in its
individual capacity, any holder of a beneficial interest in the Issuer, solely in such capacity, the Owner Trustee or the Indenture Trustee or of any successor or assign of the Indenture Trustee or the Owner Trustee in its individual capacity,
except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacity). For all purposes of this Indenture, in the performance of any duties or
obligations of the Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI, VII and VIII of the Trust Agreement. 

Section 11.16 No Petition. Each of the Indenture Trustee, by entering into this Indenture, and each Noteholder and Owner, by
accepting a Note or an interest therein, hereby covenants and agrees that it will not at any time institute against the Issuer or the Depositor, or join in any institution against the Issuer or the Depositor, of any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings, or other proceedings under any United States federal or State bankruptcy or similar law in connection with any obligations relating to the Notes, this Indenture or any of the other Basic Documents
and agrees that it will not cooperate with or encourage others to file a bankruptcy petition against the Issuer or the Depositor. 

  
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 Section 11.17 Inspection. The Issuer agrees that, on reasonable prior notice, it will
permit any representative of the Indenture Trustee, during the Issuer’s normal business hours, to examine all of the books of account, records, reports and other papers of the Issuer, to make copies and extracts therefrom, to cause such books
to be audited by Independent certified public accountants, and to discuss the Issuer’s affairs, finances and accounts with the Issuer’s officers, employees and Independent certified public accountants, all at such reasonable times and as
often as may be reasonably requested; provided, however, that the Indenture Trustee may only cause the books of the Issuer to be audited on an annual basis, unless there occurs an Event of Default hereunder. The Indenture Trustee shall, and shall
cause its representatives to, hold in confidence all such information except to the extent such information is publicly available or such disclosure may be required by law (and all reasonable applications for confidential treatment are unavailing)
and except to the extent that the Indenture Trustee may reasonably determine with the advice of counsel and after consultation with the Issuer that such disclosure is consistent with its obligations hereunder. 

Section 11.18 Limitation of Liability. 

(a) It is expressly understood and agreed by the parties hereto that (i) this Indenture is executed and delivered by Wilmington Trust,
National Association, not individually or personally but solely as Owner Trustee of California Republic Auto Receivables Trust 2015-2, in the exercise of the powers and authority conferred and vested in it, (ii) each of the representations,
undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by Wilmington Trust, National Association but is made and intended for the purpose for binding only
the Issuer, (iii) nothing herein contained shall be construed as creating any liability on Wilmington Trust, National Association, individually or personally, to perform any covenant either expressed or implied contained herein, all such
liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (iv) under no circumstances shall Wilmington Trust, National Association be personally liable for the payment
of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Indenture or any other related documents. 

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

Section 11.19 WAIVER OF JURY TRIAL. EACH OF THE ISSUER AND THE INDENTURE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY. 

  
 58 

 Section 11.20 Force Majeure. In no event shall the Indenture Trustee be responsible
or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including strikes, work stoppages, accidents, severe weather, lockouts, riots, any
provision of any present or future law or regulation or any act of a government authority, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of
utilities, communications or computer (software and hardware) services or Federal Reserve Bank wire service; it being understood that the Indenture Trustee shall use reasonable efforts which are consistent with accepted practices in the banking
industry to resume performance as soon as practicable under the circumstances. 
 Section 11.21 PATRIOT Act. The parties hereto
acknowledge that, in accordance with Section 326 of the USA PATRIOT Act, Deutsche Bank Trust Company Americas and CRB, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to
obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account. The parties to this Indenture agree that they will provide Deutsche Bank Trust Company Americas and CRB, as the
case may be, with such information as either may request in order for Deutsche Bank Trust Company Americas and CRB to satisfy the requirements of the USA PATRIOT Act. 

Section 11.22 Submission to Jurisdiction. Each of the parties hereto hereby irrevocably and unconditionally: 

(a) submits for itself and its property in any legal action relating to this Indenture or any documents executed and delivered in connection
herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts of the State of New York located in the Borough of Manhattan, the courts of the United States of America for the
Southern District of New York and appellate courts from any thereof; 
 (b) consents that any such action may be brought in such courts and
waives any objection that it may now or hereafter have to the venue of such action in any such court or that such action was brought in an inconvenient court and agrees not to plead or claim the same; and 

(c) waives, to the fullest extent permitted by Applicable Law, any and all right to trial by jury in any legal proceeding arising out of or
relating to this Indenture or the transactions contemplated hereby. 
 Section 11.23 No Partnership or Joint Venture. Nothing
herein contained shall constitute a partnership between or joint venture by the parties hereto or constitute either party the agent of the other. Neither party shall hold itself out contrary to the terms of this Section and neither party shall
become liable by any representation, act or omission of the other contrary to the provisions hereof. This Indenture is not for the benefit of any third party and shall not be deemed to give any right or remedy to any such party whether referred to
herein or not. 

  
 59 

 Section 11.24 No Waiver; Cumulative Remedies. No failure to exercise and no delay in
exercising, on the part of any Person, any right, remedy, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further
exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exhaustive of any rights, remedies, powers and privileges provided by Applicable Law.

 Section 11.25 Conflicts with Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with another
provision hereof that is required to be included in this Indenture by any of the provisions of the Trust Indenture Act, such required provision shall control. The provisions of TIA §§ 310 through 317 that impose duties on any person
(including the provisions automatically deemed included herein unless expressly excluded by this Indenture) are a part of and govern this Indenture, whether or not physically contained herein. 

Section 11.26 No Recourse. The Notes represent obligations of the Issuer only and do not represent an interest in or obligations
of the Servicer, the Depositor or any of their respective Affiliates, and no recourse may be had against such parties or their assets, except as may be set forth in this Indenture and the other Basic Documents. Each Noteholder or Note Owner, by
acceptance of a Note or a beneficial interest therein, covenants and agrees that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee or the Indenture Trustee on the Notes or under the
Indenture or any certificate or other writing delivered in connection therewith against (i) either Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuer or (iii) any partner, owner, beneficiary,
agent, officer, director or employee of either Trustee in its individual capacity or any holder of a beneficial interest in the Issuer, either Trustee or of any successor or assign of either Trustee in its individual capacity, except as any such
Person may have expressly agreed and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by Applicable Law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any
installment or call owing to such entity. 
 ARTICLE XII 

COMPLIANCE WITH THE FDIC RULE 

Section 12.01 Purpose. 

(a) Each of the Noteholders, the issuing entity (as hereinafter defined), CRB and the Indenture Trustee acknowledges and agrees that the
purpose of this Article XII is to facilitate compliance by CRB with the provisions of the FDIC Rule. Each of the Noteholders, the issuing entity, CRB and the Indenture Trustee acknowledges 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 this
Article XII 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. 

  
 60 

 (b) If any provision of the FDIC Rule is amended, or any interpretive guidance regarding the FDIC
Rule is provided by the FDIC or its staff, as a result of which the issuing entity determines that an amendment to this Article XII is necessary or desirable, then the issuing entity and the Indenture Trustee shall be authorized and entitled to
amend this Article XII in accordance with such FDIC Rule amendment or guidance, provided that the issuing entity delivers to the Indenture Trustee an Officer’s Certificate to the effect that (i) such amendment will not have a material
adverse effect on the Noteholders or (ii) such amendment is required to remain in compliance with the FDIC Rule. Nothing in this Section 12.01(b) shall limit the rights of the Indenture Trustee pursuant to Section 9.03. 

(c) As used in this Article XII, but subject to the rules of interpretation specified in Section 12.01(a) and Section 12.01(b),
references to (i) the “sponsor” shall mean CRB, (ii) the “issuing entity” shall mean, collectively, the Depositor and the Issuer (except in Section 12.02(e), where such term shall have the meaning set forth in the
FDIC Rule), (iii) the “servicer” shall mean the Servicer or Administrator, as applicable, (iv) “obligations” or “securitization obligations” shall mean the Notes and, to the extent permitted by the FDIC Rule,
the Certificates, (v) “investors” shall mean the Noteholders and, to the extent permitted by the FDIC Rule, Certificateholders, and (vi) “financial assets” and “securitized financial assets” shall mean the
Receivables (except in Section 12.02(e), where such term shall have the meaning in the FDIC Rule). 
 (d) The issuing entity believes
that the transactions and actions contemplated by the Basic Documents comply with the requirements of Section 12.02. 

Section 12.02 Requirements of FDIC Rule. 

As required by the FDIC Rule: 

(a) Payment of principal and interest on the securitization obligations must be primarily based on the performance of financial assets that are
transferred to the issuing entity and, except for interest rate or currency mismatches between the financial assets and the obligations, shall not be contingent on market or credit events that are independent of such financial assets. 

(b) The sponsor, issuing entity, and/or servicer, as appropriate, shall make available to investors, information describing the financial
assets, obligations, capital structure, compensation of relevant parties, and relevant historical performance data set forth below: 

(i) On or prior to issuance of obligations and at the time of delivery of any periodic distribution report and, in any event,
at least once per calendar quarter, while obligations are outstanding, information about the obligations and the securitized financial assets shall be disclosed to all potential investors at the financial asset or pool level, as appropriate for the
financial assets, and security-level to enable evaluation and analysis of the credit risk and performance of the obligations and financial assets. Such information and its disclosure, at a minimum, shall
comply with the requirements of 

  
 61 

 
Regulation AB or any successor disclosure requirements for public issuances, even if the obligations are issued in a private placement or are not otherwise required to be registered; provided,
however, that information that is unknown or not available to the sponsor or the issuing entity after reasonable investigation may be omitted if the issuing entity includes a statement in the offering documents disclosing that the specific
information is otherwise unavailable; 
 (ii) On or prior to issuance of obligations, the structure of the securitization and
the credit and payment performance of the obligations shall be disclosed, including the capital or tranche structure, the priority of payments and specific subordination features; representations and warranties made with respect to the financial
assets, the remedies for and the time permitted for cure of any breach of representations and warranties, including the repurchase of financial assets, if applicable; liquidity facilities and any credit enhancements permitted by the FDIC Rule, any
waterfall triggers or priority of payment reversal features; and policies governing delinquencies, servicer advances, loss mitigation, and write-offs of financial assets; 

(iii) While obligations are outstanding, the issuing entity shall provide to investors information with respect to the credit
performance of the obligations and the financial assets, including periodic and cumulative financial asset performance data, delinquency and modification data for the financial assets, substitutions and removal of financial assets, servicer
advances, as well as losses that were allocated to such tranche and the remaining balance of financial assets supporting such tranche, if applicable, and the percentage of each tranche in relation to the securitization as a whole; and 

(iv) The nature and amount of compensation paid to the originator, sponsor, rating agency or third-party advisor, any mortgage
or other broker, and the servicer(s), and the extent to which any risk of loss on the underlying assets is retained by any of them for such securitization shall be disclosed; the issuing entity shall provide to investors while any obligations are
outstanding any changes to such information and the amount and nature of payments of any deferred compensation or similar arrangements to any of the parties. 

(c) Prior to the Section 941 Effective Date, the sponsor shall retain an economic interest in a material portion, defined as not less
than five (5) percent, of the credit risk of the financial assets. This retained interest may be either in the form of an interest of not less than five (5) percent in each of the credit tranches sold or transferred to the investors or in
a representative sample of the securitized financial assets equal to not less than five (5) percent of the principal amount of the financial assets at transfer. This retained interest may not be sold or pledged or hedged, except for the hedging
of interest rate or currency risk, during the term of the securitization. 
 (d) The obligations shall not be predominantly sold to an
Affiliate (other than a wholly-owned subsidiary consolidated for accounting and capital purposes with the sponsor) or insider of the sponsor. 

  
 62 

 (e) The sponsor shall separately identify in its financial asset data bases the financial assets
transferred into any securitization and shall maintain an electronic or paper copy of the closing documents in a readily accessible form, a current list of all of its outstanding securitizations and issuing entities, and the most recent Form 10-K,
if applicable, or other periodic financial report for each securitization and issuing entity. The sponsor shall make these records readily available for review by the FDIC promptly upon written request. 

(f) To the extent serving as servicer, custodian or paying agent for the securitization, the sponsor shall not comingle amounts received with
respect to the financial assets with its own assets except for the time, not to exceed two (2) Business Days, necessary to clear any payments received. 

(g) The sponsor shall maintain continuously, from the time of execution, a copy of all executed Basic Documents and other securitization
agreements in its official records. 
 Section 12.03 Performance. The issuing entity agrees to (i) perform the covenants
set forth in Section 12.02, except to the extent any such obligation is imposed exclusively on the servicer or the sponsor and (ii) facilitate compliance with this Article XII by CRB and the Depositor. 

Section 12.04 Effect of Section 941 Rules. The sponsor will be required to adjust the economic interest it retains to the
extent necessary to comply with Section 941 Rules upon the Section 941 Effective Date and thereafter. However, Section 12.02(c) shall not be construed to require the sponsor to retain any greater economic interest in the credit risk
of the financial assets than is required to comply with the FDIC Rule and other Applicable Law. Accordingly, upon the Section 941 Effective Date and thereafter, the sponsor shall be entitled to adjust the amount of credit risk that it retains,
or the terms under which such credit risk is retained, to the greatest extent elected by the sponsor, so long as the sponsor’s retention shall be in compliance with Applicable Law. Within a reasonable time after the sponsor has so adjusted the
amount or terms of the credit risk it retains, the sponsor shall give notice thereof to the Noteholders and the Certificateholders, and each of the Indenture Trustee, the Depositor and CRB is authorized and entitled to amend Section 12.02(c),
in accordance with and to the extent the issuing entity determines necessary or appropriate, to reflect the requirements of the Section 941 Rules. 

Section 12.05 Actions Upon Repudiation. Without such actions constituting an acknowledgement or agreement by any investor or any
other party to the Basic Documents that the provisions of paragraph (d)(4) of the FDIC Rule are applicable: 
 (a) In the event that CRB
becomes the subject of an insolvency proceeding and the FDIC as receiver or conservator for CRB provides a written notice of repudiation as contemplated by paragraph (d)(4)(ii) of the FDIC Rule, the Servicer shall determine whether the FDIC in such
capacity will pay damages as provided in such paragraph (d)(4)(ii). Upon making such determination, the Servicer shall promptly, and in any event no more than one (1) Business Day thereafter, so notify the Indenture Trustee and the Owner
Trustee. 
 (b) Following delivery of the notice specified in Section 12.05(a): 

  
 63 

 (i) at the direction of the Holders of at least 25% of the Note Balance of the
Outstanding Notes of the Controlling Class, the Indenture Trustee shall request and the Servicer shall compute the damages due to the Holders of each Class of Notes pursuant to paragraph (d)(4)(ii) of the FDIC Rule and shall notify the Indenture
Trustee, the Owner Trustee and the FDIC of such amounts; and 
 (ii) at the direction of the Certificateholders pursuant to
the Trust Agreement, the Owner Trustee shall provide the Servicer with written instructions setting forth the amount of damages claimed by the Certificateholders pursuant to paragraph (d)(4)(ii) of the FDIC Rule, and the Servicer shall notify the
Indenture Trustee, the Owner Trustee and the FDIC of such claim for damages. 
 (c) If any principal or accrued interest on the Notes
remains unpaid upon receipt of the notice specified in Section 12.05(a), the Indenture Trustee shall thereupon determine the Applicable Payment Date for making a distribution to Noteholders of such damages, which date shall be the earlier of
(i) the next Payment Date on which such damages could be distributed and (ii) the earliest practicable date by which the Indenture Trustee could declare a special payment date, in each case subject to all applicable provisions of this
Indenture, Applicable Law and the procedures of the Depository. The Indenture Trustee is authorized and instructed to retain possession and control of the Trust Accounts and all amounts on deposit therein. 

(d) When the Applicable Payment Date is determined, the Servicer shall promptly compute the amount of interest to be paid on each Class of
Notes on the Applicable Payment Date, which interest (unless such Applicable Payment Date is a Payment Date) shall be the amount accruing up to the Applicable Payment Date and which shall be computed by pro rating the amount that would otherwise be
payable on the next succeeding Payment Date on the basis of (x) the number (not to exceed 30) of days elapsed from such preceding Payment Date divided by (y) 30. The Servicer shall notify the Indenture Trustee of the applicable amounts of
principal and interest to be paid on each Class of Notes and the Aggregate Note Amount not later than the Business Day following the day on which the Applicable Payment Date is determined. 

(e) If the Applicable Payment Date is a special payment date, the Indenture Trustee shall (i) declare such special payment date (the
record date for which shall be the close of business on the day immediately preceding such special payment date), (ii) declare a special distribution to Noteholders consisting of unpaid interest on each Note and the outstanding principal
balance of each Note and (iii) deliver notice to the Noteholders and the Servicer (which shall deliver such notice to the Owner Trustee) of such special payment date and special distribution. 

(f) Following payment by the FDIC of any damages described in Section 12.05(a), 

(i) such damages shall be deposited, first, into the Principal Distribution Account (in an amount equal to the lesser of
the (x) the Aggregate Note Amount and (y) the amount of such damages) and, second, into the Certificate Distribution Account under the Trust Agreement (in the amount of such damages, if any, remaining after making the deposit
described in clause first); 

  
 64 

 (ii) the Servicer shall promptly, and no later than one Business Day after such
damages have been paid by the FDIC, (x) compute the amount, if any, required to be withdrawn from available funds in the Reserve Account (and, if necessary, the Collection Account) and transferred to the Principal Distribution Account so that
the amount on deposit in the Principal Distribution Account shall equal the Aggregate Note Amount, if any and (y) promptly inform the Indenture Trustee and Owner Trustee of such computations; and 

(iii) on the Applicable Payment Date, the Indenture Trustee, at the written direction of the Servicer, shall, based on the
computations in Section 12.05(e), first, withdraw from monies on deposit in the Reserve Account and, if necessary, monies on deposit in the Collection Account the amount so computed and cause such amount to be deposited into the Principal
Distribution Account and second, cause all amounts deposited in the Principal Distribution Account pursuant to this Section 12.05 to be applied in accordance with Section 2.07, to the extent of the amounts available for application
pursuant thereto (but distributing to each class the amount of interest computed by the Servicer pursuant to Section 12.05(c), rather than the amount specified in Section 2.07). 

(g) As promptly as practicable after giving effect to the distributions in Section 12.05(f), any funds remaining in the Principal
Distribution Account, the Certificate Distribution Account, the Collection Account and the Reserve Account shall be distributed on the earlier of (x) the date, if any, specified in the Trust Agreement and (y) the following Payment Date (or
on such applicable distribution date, if it is a Payment Date), such distributions to be made in accordance with the applicable provisions of the Basic Documents, with the Servicer to adjust the amounts of such distributions to take into account the
amounts distributed on the applicable distribution date. 
 Section 12.06 Notice. 

(a) In the event that CRB becomes the subject of an insolvency proceeding and the FDIC as receiver or conservator provides a written notice of
repudiation as contemplated by paragraph (d)(4)(ii) of the FDIC Rule, the party receiving such notice shall promptly deliver such notice to each of the Depositor, CRB, the Owner Trustee and the Indenture Trustee. 

(b) If the FDIC (i) is appointed as a conservator or receiver of CRB and (ii) is in default in the payment of principal or interest
when due following the expiration of any cure period hereunder or under the other Basic Documents, the Indenture Trustee at the written direction of the Holders of at least 25% of the Note Balance of the Outstanding Notes of the Controlling Class,
the Servicer or a Noteholder shall be entitled to deliver written notice to the FDIC requesting the exercise of contractual rights hereunder and under the other Basic Documents. 

(c) If (i) the FDIC is appointed as a conservator or receiver of CRB, (ii) the Notes have been Paid In Full and (iii) the FDIC
is in default in the payment of any amounts due to Certificateholders following the expiration of any cure period hereunder or under the other Basic Documents, the Owner Trustee at the direction of a Certificateholders shall be entitled to deliver
written notice to the FDIC requesting the exercise of contractual rights hereunder and under the other Basic Documents. 

  
 65 

 Section 12.07 Reservation of Rights. Notwithstanding anything herein to the contrary,
neither the inclusion of this Article XII in this Indenture nor the compliance by any Person with, or the acknowledgment by any Person of, this Article’s provisions (a) constitutes an agreement or acknowledgment by any Person that, in the
case of an insolvency proceeding with respect to CRB, a receiver or conservator will have any rights with respect to the trust estate under this Indenture or (b) shall be deemed to limit in any way whatsoever the right of any Person to contest
any decision, assertion or other action taken or made by such a receiver or conservator in respect of the obligations or the Basic Documents, including any such action seeking to apply the FDIC Rule, or the provisions of paragraph (d)(4) of the FDIC
Rule rather than paragraph (d)(3) thereof, to the transactions contemplated by the Basic Documents. 

  
 66 

 IN WITNESS WHEREOF, the Issuer and the Indenture Trustee have caused this Indenture to be duly
executed by their respective officers, thereunto duly authorized and duly attested, all as of the day and year first above written. 
  

			
	CALIFORNIA REPUBLIC AUTO RECEIVABLES TRUST 2015-2
		
	 By:
		 WILMINGTON TRUST, NATIONAL
 ASSOCIATION, not
in its individual capacity
 but solely as Owner Trustee

		
	 By:
		 /s/ Dorri Costello

			Name: Dorri Costello
			Title:   Vice President

 [Signature page to the Indenture] 

 
			
	 DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity but

solely as Indenture Trustee

		
	By:		 /s/ Jennifer Freda

			Name: Jennifer Freda
			Title:   Assistant Vice President
		
	By:		 /s/ Michelle Voon

			Name: Michelle Voon
			Title:   Vice President

 [Signature page to the Indenture] 

 EXHIBIT A-1 

FORM OF CLASS A-1 NOTE 
 CLASS A-1
ASSET BACKED NOTE 
 THE ACQUISITION OF THE NOTES BY, OR ON BEHALF OF, OR WITH THE ASSETS OF ANY “EMPLOYEE BENEFIT PLAN” SUBJECT
TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR ANY “PLAN” SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “INTERNAL
REVENUE CODE”), OR ANY ENTITY PART OR ALL OF THE ASSETS OF WHICH CONSTITUTE ASSETS OF ANY SUCH EMPLOYEE BENEFIT PLAN OR PLAN BY REASON OF DEPARTMENT OF LABOR REGULATION SECTION 2510.3-101 OR OTHERWISE IS PROHIBITED UNLESS SUCH PURCHASE, HOLDING
AND SUBSEQUENT DISPOSITION OF THE NOTES WOULD NOT RESULT IN ANY NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR UNDER SECTION 4975 OF THE INTERNAL REVENUE CODE. EACH BENEFICIAL OWNER OF THIS NOTE WILL BE DEEMED TO HAVE MADE THE
REPRESENTATIONS AND AGREEMENTS SET FORTH IN THE INDENTURE. 
 A FIDUCIARY OF A BENEFIT PLAN PURCHASING THE NOTES WITH THE ASSETS OF A
BENEFIT PLAN IS DEEMED TO REPRESENT THAT THE PURCHASE OF ONE OR MORE NOTES IS CONSISTENT WITH ITS FIDUCIARY DUTIES UNDER ERISA AND DOES NOT RESULT IN A NONEXEMPT PROHIBITED TRANSACTION AS DEFINED IN SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE.

 ANY TRANSFER, PLEDGE OR OTHER USE OF THIS NOTE FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN, UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUING ENTITY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT AND ANY NOTE 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 (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO.)). 
 TRANSFERS OF THIS NOTE SHALL
BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH
IN THE INDENTURE REFERRED TO HEREIN. 
 THE PRINCIPAL OF THIS NOTE IS PAYABLE AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL
AMOUNT OF THIS NOTE AT ANY 

  
 A-1-1 

 
TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. ANY PERSON ACQUIRING THIS NOTE MAY ASCERTAIN ITS CURRENT PRINCIPAL AMOUNT BY INQUIRY OF THE INDENTURE TRUSTEE. 

THE FAILURE TO PROVIDE THE ISSUING ENTITY AND THE INDENTURE TRUSTEE WITH THE APPLICABLE U.S. FEDERAL INCOME TAX CERTIFICATIONS (GENERALLY, AN
INTERNAL REVENUE SERVICE FORM W-9 (OR SUCCESSOR APPLICABLE FORM) IN THE CASE OF A PERSON THAT IS A “UNITED STATES PERSON” WITHIN THE MEANING OF SECTION 7701(A)(30) OF THE INTERNAL REVENUE CODE, OR AN APPROPRIATE INTERNAL REVENUE SERVICE
FORM W-8 (OR SUCCESSOR APPLICABLE FORM) IN THE CASE OF A PERSON THAT IS NOT A “UNITED STATES PERSON” WITHIN THE MEANING OF SECTION 7701(A)(30) OF THE INTERNAL REVENUE CODE) MAY RESULT IN THE IMPOSITION OF U.S. FEDERAL BACK-UP WITHHOLDING
UPON PAYMENTS TO THE HOLDER IN RESPECT OF THIS NOTE. 

  
 A-1-2 

 CALIFORNIA REPUBLIC AUTO RECEIVABLES TRUST 2015-2 

[    ]% CLASS A-1 ASSET BACKED NOTE 

$        1 

NOTE No. R-1 
 [CUSIP NO.
[            ]] 
 CALIFORNIA REPUBLIC AUTO RECEIVABLES TRUST 2015-2, a Delaware
statutory trust (herein referred to as the “Issuer”), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of
             MILLION DOLLARS ($            ), on the earlier of the Payment Date occurring on
                    , 201[    ] (the “Class A-1 Final Scheduled Payment Date”) and the Redemption Date, if any,
pursuant to Section 10.01 of the Indenture (referred to on the reverse side hereof) except as provided below or in the Indenture (referred to on the reverse side hereof. The Issuer will pay interest on this Note at the Class A-1 Interest
Rate, on each Payment Date until the principal of this Note is paid or made available for payment, on the principal amount of this Note outstanding on the close of business on the preceding Payment Date, subject to certain limitations contained in
Article V of the Sale and Servicing Agreement (referred to on the reverse side hereof). Interest on this Note will accrue from and including the prior Payment Date (or, with respect to the first Payment Date, from and including the Closing
Date) to, but excluding, the current Payment Date. Interest will be computed on the basis of the actual number of days elapsed and a 360-day year. Such principal of and interest on this Note shall be paid in the manner specified in the Indenture and
the Sale and Servicing Agreement. 
 Capitalized terms used but not defined herein are defined in Indenture or the Sale and Servicing
Agreement. 
 The Notes are secured by certain assets of the Issuer consisting primarily of a portfolio of motor vehicle installment sale
contracts and loans. This Note does not represent an interest in, or obligation of, California Republic Funding, LLC (the “Depositor”), California Republic Bank, or any affiliate thereof. 

Unless the certificate of authentication hereon has been executed by or on behalf of the Indenture Trustee, by manual signature, this Note
shall not be entitled to any benefit under the Indenture, or the Sale and Servicing Agreement or be valid for any purpose. 
 THIS NOTE
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS WITHOUT REGARD TO THE CONFLICT OF LAWS
PROVISIONS THEREOF (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 
  

 

	1 	Denominations of $1,000 and integral multiples of $1,000 in excess thereof. 

  
 A-1-3 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile,
by its Authorized Officer. 
  

							
	Date:                    	 		 	CALIFORNIA REPUBLIC AUTO RECEIVABLES TRUST 2015-2
			
		 	By:	 	WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee
				
		 		 	By:  	 	 
		 		 		 	Authorized Signatory

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

							
	Date:                    	 		 	DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity but solely as Indenture Trustee
				
		 		 	By:	  	  

		 		 		  	Authorized Signatory

  
 A-1-4 

 REVERSE OF NOTE 

This certifies that Cede & Co. (the “Noteholder”), is the registered owner of the Note which is secured by certain
assets of the CALIFORNIA REPUBLIC AUTO RECEIVABLES TRUST 2015-2 (the “Issuer”) created by the Amended and Restated Trust Agreement, dated as of June 1, 2015, between Depositor and Wilmington Trust, National Association, as
Owner Trustee (the “Owner Trustee”). The Notes are issued pursuant to an Indenture, dated as of June 1, 2015 (as amended, the “Indenture”), between the Issuer and Deutsche Bank Trust Company Americas, as
Indenture Trustee (the “Indenture Trustee”) and are subject to the terms of the Indenture and the Sale and Servicing Agreement, dated as of June 1, 2015 (as amended, the “Sale and Servicing Agreement”), among
California Republic Bank, the Depositor, the Indenture Trustee and the Issuer. 
 The property of the Issuer will include the Issuer’s
right, title and interest in, to and under the Collateral (as defined in the Indenture). 
 This Note is issued under and is subject to the
terms, provisions and conditions of the Sale and Servicing Agreement, and the Indenture, as each may be amended and supplemented from time to time, the Noteholder by virtue of the acceptance hereof assents and is bound. Although a summary of certain
provisions of the Sale and Servicing Agreement and the Indenture are set forth below, this Note does not purport to summarize the Sale and Servicing Agreement or the Indenture and reference is made to the Sale and Servicing Agreement and the
Indenture for information with respect to the interests, rights, benefits, obligations, proceeds and duties evidenced hereby and the rights, duties and obligations of the Indenture Trustee. A copy of the Sale and Servicing Agreement and the
Indenture (without schedules and exhibits) may be requested from the Indenture Trustee by writing to the Indenture Trustee at Deutsche Bank Trust Company Americas, C/O DBNTC, 100 Plaza One, 6th
Floor, MS JCY03-0699, Jersey City, NJ 07311. In the event of any conflict between this Note, on the one hand, and the Indenture or the Sale and Servicing Agreement on the other hand, the Indenture or the Sale and Servicing Agreement shall control.

 The Issuer has entered into the Sale and Servicing Agreement and the Notes have been (or will be) issued with the intention that the
Notes will qualify under Applicable Law as indebtedness of the Issuer secured by the Collateral. The Issuer, each Beneficiary and each Noteholder and Owner by the acceptance of its Note or Book-Entry Note, as applicable, agrees to treat the Notes as
indebtedness secured by the Collateral for federal income, State and local income, and franchise taxes and any other taxes imposed on or measured by income. 

On each Payment Date, the Indenture Trustee shall distribute to each Person who was a Noteholder at the close of business on the last day of
the prior Collection Period (each a “Record Date”) such Noteholder’s share of such amounts on deposit in the Collection Account as are payable in respect of Notes pursuant to the Sale and Servicing Agreement. Distributions with
respect to this Note will be made by the Indenture Trustee by check mailed to the address of the Noteholder of record appearing on the Register without the presentation or surrender of this Note or the making of any notation thereon (except for the
final distribution in respect of this Note) except that with respect to Notes registered in the name of a Depository, including Cede & Co., the nominee for DTC, distributions will be made to the Depository in immediately available

  
 A-1-5 

 
funds. Final payment of this Note will be made only upon presentation and surrender of this Note at the office or agency specified in the notice of final distribution delivered by the Indenture
Trustee to the Noteholder in accordance with the Indenture. 
 On the Payment Date occurring after the last day of a Collection Period on
which the aggregate outstanding principal balance of the Notes is reduced to an amount equal to or less than 10% of the Cutoff Date Pool Balance the Servicer shall have the option to redeem the Notes in whole, but not in part, at a purchase price
equal to the Redemption Price for such Payment Date. Each of the Notes is also subject to redemption in whole, but not in part, on any Payment Date on which the sum of the amounts in the Reserve Account and the remaining Available Funds after the
payments under Sections 5.04(a)(i) through 5.04(a)(vii) and Section 5.04(a)(x) of the Sale and Servicing Agreement would be sufficient to pay in full the aggregate unpaid Note Balance of all of the outstanding Notes as determined by the
Servicer. 
 This Note does not represent an obligation of, or an interest in Depositor, California Republic Bank, or any affiliate of any
of them and is not insured or guaranteed by any governmental agency or instrumentality. This Note is limited in right of payment to certain Collections with respect to the Collateral, all as more specifically set forth herein and in the Sale and
Servicing Agreement and the Indenture. 
 Upon the satisfaction of the Rating Agency Condition, the Sale and Servicing Agreement may be
amended from time to time by the Depositor, the Seller, the Servicer, the Indenture Trustee, the Issuer and the Noteholders holding a majority of the Note Balance of the Outstanding Notes of the Controlling Class for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of the Sale and Servicing Agreement or of modifying in any manner the rights of the Noteholders. 

The Indenture may be amended and supplemental indentures may be adopted in accordance with the terms and conditions set forth in the
Indenture. 
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in
the Register of the Registrar upon surrender of this Note for registration of transfer at the office or agency maintained by the Registrar in Jacksonville, Florida, accompanied by a written instrument of transfer in form satisfactory to the
Registrar duly executed by the Holder hereof or such Holder’s attorney duly authorized, and thereupon one or more new Notes of authorized denominations evidencing the same aggregate fractional undivided interest will be issued to the designated
transferee or transferees. 
 The Notes are issuable only as registered Notes without coupons in denominations specified in the Indenture.

 As provided in the Indenture and subject to certain limitations therein set forth, Notes are exchangeable for new Notes of a like Class
and aggregate principal amount as requested by the Noteholder surrendering such Notes. No service charge may be imposed for any such exchange, but the Indenture Trustee may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection therewith. 

  
 A-1-6 

 The Servicer, the Indenture Trustee, the Issuer and the Registrar and any agent of any of them,
may treat the person in whose name this Note is registered as the owner hereof for all purposes, and neither the Servicer nor the Indenture Trustee, the Issuer and Registrar, nor any agent of any of them, shall be affected by notice to the contrary
except in certain circumstances described in the Indenture. 
 The Indenture Trustee is not responsible for and makes no representation as
to the validity or adequacy of the Indenture or this Note, is not accountable for the Issuer’s use of proceeds of the Notes and is not responsible for any statement in this Note other than the Indenture Trustee’s certificate of
authentication. 

  
 A-1-7 

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee: 
  

			
	  
		

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

 

	
	  

	(name and address of assignee)

 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints
                                        ,
attorney, to transfer said Note on the books kept for registration thereof, 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 on the reverse of the within Note in every particular, without alteration, enlargement or any change
whatsoever. 

  
 A-1-8 

 EXHIBIT A-2 

FORM OF CLASS [A-2/A-3/A-4/B/C] NOTE 

THE ACQUISITION OF THE NOTES BY, OR ON BEHALF OF, OR WITH THE ASSETS OF ANY “EMPLOYEE BENEFIT PLAN” SUBJECT TO THE FIDUCIARY
RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR ANY “PLAN” SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “INTERNAL REVENUE
CODE”), OR ANY ENTITY PART OR ALL OF THE ASSETS OF WHICH CONSTITUTE ASSETS OF ANY SUCH EMPLOYEE BENEFIT PLAN OR PLAN BY REASON OF DEPARTMENT OF LABOR REGULATION SECTION 2510.3-101 OR OTHERWISE IS PROHIBITED UNLESS SUCH PURCHASE, HOLDING AND
SUBSEQUENT DISPOSITION OF THE NOTES WOULD NOT RESULT IN ANY NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR UNDER SECTION 4975 OF THE INTERNAL REVENUE CODE. EACH BENEFICIAL OWNER OF THIS NOTE WILL BE DEEMED TO HAVE MADE THE
REPRESENTATIONS AND AGREEMENTS SET FORTH IN THE INDENTURE. 
 A FIDUCIARY OF A BENEFIT PLAN PURCHASING THE NOTES WITH THE ASSETS OF A
BENEFIT PLAN IS DEEMED TO REPRESENT THAT THE PURCHASE OF ONE OR MORE NOTES IS CONSISTENT WITH ITS FIDUCIARY DUTIES UNDER ERISA AND DOES NOT RESULT IN A NONEXEMPT PROHIBITED TRANSACTION AS DEFINED IN SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE.

 ANY TRANSFER, PLEDGE OR OTHER USE OF THIS NOTE FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN, UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUING ENTITY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT AND ANY NOTE 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 (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO.)). 
 TRANSFERS OF THIS NOTE SHALL
BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH
IN THE INDENTURE REFERRED TO HEREIN. 
 THE PRINCIPAL OF THIS NOTE IS PAYABLE AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL
AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. ANY PERSON ACQUIRING THIS NOTE MAY ASCERTAIN ITS CURRENT PRINCIPAL AMOUNT BY INQUIRY OF THE INDENTURE TRUSTEE. 

  
 A-2-1 

 THE FAILURE TO PROVIDE THE ISSUING ENTITY AND THE INDENTURE TRUSTEE WITH THE APPLICABLE U.S.
FEDERAL INCOME TAX CERTIFICATIONS (GENERALLY, AN INTERNAL REVENUE SERVICE FORM W-9 (OR SUCCESSOR APPLICABLE FORM) IN THE CASE OF A PERSON THAT IS A “UNITED STATES PERSON” WITHIN THE MEANING OF SECTION 7701(A)(30) OF THE INTERNAL REVENUE
CODE, OR AN APPROPRIATE INTERNAL REVENUE SERVICE FORM W-8 (OR SUCCESSOR APPLICABLE FORM) IN THE CASE OF A PERSON THAT IS NOT A “UNITED STATES PERSON” WITHIN THE MEANING OF SECTION 7701(A)(30) OF THE INTERNAL REVENUE CODE) MAY RESULT IN THE
IMPOSITION OF U.S. FEDERAL BACK-UP WITHHOLDING UPON PAYMENTS TO THE HOLDER IN RESPECT OF THIS NOTE. 

  
 A-2-2 

 CALIFORNIA REPUBLIC AUTO RECEIVABLES TRUST 2015-2 

[    ]% CLASS [A-2/A-3/A-4/B/C] ASSET BACKED NOTE 

$        2 

NOTE No. R-1 
 [CUSIP NO.
[            ]] 
 CALIFORNIA REPUBLIC AUTO RECEIVABLES TRUST 2015-2, a Delaware
statutory trust (herein referred to as the “Issuer”), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of
            MILLION DOLLARS ($        ), on the earlier of the Payment Date occurring on
                     20     (the “Class [A-2/A-3/A-4/B/C] Final Scheduled Payment Date”) and the Redemption
Date, if any, pursuant to Section 10.01 of the Indenture (referred to on the reverse side hereof) except as provided below or in the Indenture (referred to on the reverse side hereof. The Issuer will pay interest on this Note at the [Class
A-2/Class A-3/Class A-4/Class B/Class C] Interest Rate, on each Payment Date until the principal of this Note is paid or made available for payment, on the principal amount of this Note outstanding on the close of business on the preceding Payment
Date, subject to certain limitations contained in Article V of the Sale and Servicing Agreement (referred to on the reverse side hereof). Interest on this Note will accrue for each Payment Date from the and including the 15th day of each calendar month preceding the Payment Date (or from and including the Closing Date in the case of the first Payment Date) to but excluding the 15th day of the following month. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. Such principal of and interest on this Note shall be paid in the manner
specified in the Indenture and the Sale and Servicing Agreement. 
 Capitalized terms used but not defined herein are defined in Indenture
or the Sale and Servicing Agreement. 
 The Notes are secured by certain assets of the Issuer consisting primarily of a portfolio of motor
vehicle installment sale contracts and loans. This Note does not represent an interest in, or obligation of, California Republic Funding, LLC (the “Depositor”), California Republic Bank, or any affiliate thereof. This Note and all
other Class [A-2/A-3/A-4/B/C] Notes are junior and subordinated to the Class A-1 Notes [Class A-2 Notes/Class A-3 Notes/Class A-4 Notes/Class B Notes], as fully described in the Indenture and the Sale and Servicing Agreement. 

Unless the certificate of authentication hereon has been executed by or on behalf of the Indenture Trustee, by manual signature, this Note
shall not be entitled to any benefit under the Indenture, or the Sale and Servicing Agreement or be valid for any purpose. 
 THIS NOTE
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS AND 
  

	2 	Denominations of $1,000 and integral multiples of $1,000 in excess thereof. 

  
 A-2-3 

 
REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS WITHOUT REGARD TO THE CONFLICT OF LAWS PROVISIONS THEREOF (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL
OBLIGATIONS LAW). 

  
 A-2-4 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile,
by its Authorized Officer. 
  

							
	Date:				CALIFORNIA REPUBLIC AUTO RECEIVABLES TRUST 2015-2
			
			By:		WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee
				
					 By:
		  

							Authorized Signatory

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

					
	 Date:
		DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity but solely as Indenture Trustee
			
			 By:
		  

					Authorized Signatory

  
 A-2-5 

 REVERSE OF NOTE 

This certifies that Cede & Co. (the “Noteholder”), is the registered owner of the Note which is secured by certain
assets of the CALIFORNIA REPUBLIC AUTO RECEIVABLES TRUST 2015-2 (the “Issuer”) created by the Amended and Restated Trust Agreement, dated as of June 1, 2015, between Depositor and Wilmington Trust, National Association, as
Owner Trustee (the “Owner Trustee”). The Notes are issued pursuant to an Indenture, dated as of June 1, 2015 (as amended, the “Indenture”), between the Issuer and Deutsche Bank Trust Company Americas, as
Indenture Trustee (the “Indenture Trustee”) and are subject to the terms of the Indenture and the Sale and Servicing Agreement, dated as of June 1, 2015 (as amended, the “Sale and Servicing Agreement”), among
California Republic Bank, the Depositor, the Indenture Trustee and the Issuer. 
 The property of the Issuer will include the Issuer’s
right, title and interest in, to and under the Collateral (as defined in the Indenture). 
 This Note is issued under and is subject to the
terms, provisions and conditions of the Sale and Servicing Agreement, and the Indenture, as each may be amended and supplemented from time to time, the Noteholder by virtue of the acceptance hereof assents and is bound. Although a summary of certain
provisions of the Sale and Servicing Agreement and the Indenture are set forth below, this Note does not purport to summarize the Sale and Servicing Agreement or the Indenture and reference is made to the Sale and Servicing Agreement and the
Indenture for information with respect to the interests, rights, benefits, obligations, proceeds and duties evidenced hereby and the rights, duties and obligations of the Indenture Trustee. A copy of the Sale and Servicing Agreement and the
Indenture (without schedules and exhibits) may be requested from the Indenture Trustee by writing to the Indenture Trustee at Deutsche Bank Trust Company Americas, C/O DBNTC, 100 Plaza One, 6th
Floor, MS JCY03-0699, Jersey City, NJ 07311. In the event of any conflict between this Note, on the one hand, and the Indenture or the Sale and Servicing Agreement on the other hand, the Indenture or the Sale and Servicing Agreement shall control.

 The Issuer has entered into the Sale and Servicing Agreement and the Notes have been (or will be) issued with the intention that the
Notes will qualify under Applicable Law as indebtedness of the Issuer secured by the Collateral. The Issuer, each Beneficiary and each Noteholder and Owner by the acceptance of its Note or Book-Entry Note, as applicable, agrees to treat the Notes as
indebtedness secured by the Collateral for federal income, State and local income, and franchise taxes and any other taxes imposed on or measured by income. 

On each Payment Date, the Indenture Trustee shall distribute to each Person who was a Noteholder at the close of business on the last day of
the prior Collection Period (each a “Record Date”) such Noteholder’s share of such amounts on deposit in the Collection Account as are payable in respect of Notes pursuant to the Sale and Servicing Agreement. Distributions with
respect to this Note will be made by the Indenture Trustee by check mailed to the address of the Noteholder of record appearing on the Register without the presentation or surrender of this Note or the making of any notation thereon (except for the
final distribution in respect of this Note) except that with respect to Notes registered in the name of a Depository, including Cede & Co., the nominee for DTC, distributions will be made to the Depository in immediately available

  
 A-2-6 

 
funds. Final payment of this Note will be made only upon presentation and surrender of this Note at the office or agency specified in the notice of final distribution delivered by the Indenture
Trustee to the Noteholder in accordance with the Indenture. 
 On the Payment Date occurring after the last day of a Collection Period on
which the aggregate outstanding principal balance of the Notes is reduced to an amount equal to or less than 10% of the Cutoff Date Pool Balance, the Servicer shall have the option to redeem the Notes in whole, but not in part, at a purchase price
equal to the Redemption Price for such Payment Date. Each of the Notes is also subject to redemption in whole, but not in part, on any Payment Date on which the sum of the amounts in the Reserve Account and the remaining Available Funds after the
payments under Sections 5.04(a)(i) through 5.04(a)(vii) and Section 5.04(a)(x) of the Sale and Servicing Agreement would be sufficient to pay in full the aggregate unpaid Note Balance of all of the outstanding Notes as determined by the
Servicer. 
 This Note does not represent an obligation of, or an interest in Depositor, California Republic Bank, or any affiliate of any
of them and is not insured or guaranteed by any governmental agency or instrumentality. This Note is limited in right of payment to certain Collections with respect to the Collateral, all as more specifically set forth herein and in the Sale and
Servicing Agreement and the Indenture. 
 Upon the satisfaction of the Rating Agency Condition, the Sale and Servicing Agreement may be
amended from time to time by the Depositor, the Seller, the Servicer, the Indenture Trustee, the Issuer and the Noteholders holding a majority of the Note Balance of the Outstanding Notes of the Controlling Class for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of the Sale and Servicing Agreement or of modifying in any manner the rights of the Noteholders. 

The Indenture may be amended and supplemental indentures may be adopted in accordance with the terms and conditions set forth in the
Indenture. 
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in
the Register of the Registrar upon surrender of this Note for registration of transfer at the office or agency maintained by the Registrar in Jacksonville, Florida, accompanied by a written instrument of transfer in form satisfactory to the
Registrar duly executed by the Holder hereof or such Holder’s attorney duly authorized, and thereupon one or more new Notes of authorized denominations evidencing the same aggregate fractional undivided interest will be issued to the designated
transferee or transferees. 
 The Notes are issuable only as registered Notes without coupons in denominations specified in the Indenture.

 As provided in the Indenture and subject to certain limitations therein set forth, Notes are exchangeable for new Notes of a like Class
and aggregate principal amount as requested by the Noteholder surrendering such Notes. No service charge may be imposed for any such exchange, but the Indenture Trustee may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection therewith. 

  
 A-2-7 

 The Servicer, the Indenture Trustee, the Issuer and the Registrar and any agent of any of them,
may treat the person in whose name this Note is registered as the owner hereof for all purposes, and neither the Servicer nor the Indenture Trustee, the Issuer and Registrar, nor any agent of any of them, shall be affected by notice to the contrary
except in certain circumstances described in the Indenture. 
 The Indenture Trustee is not responsible for and makes no representation as
to the validity or adequacy of the Indenture or this Note, is not accountable for the Issuer’s use of proceeds of the Notes and is not responsible for any statement in this Note other than the Indenture Trustee’s certificate of
authentication. 

  
 A-2-8 

 ASSIGNMENT 
  

							
	Social Security or taxpayer I.D. or other identifying number of assignee:
	 				
	
	FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto:
	
	 
	(name and address of assignee)
	
	the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints
                        , attorney, to transfer said Note on the books kept for registration thereof, 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 on the reverse of the within Note in every particular, without alteration, enlargement or any change
whatsoever. 

  
 A-2-9 

 EXHIBIT C-1 

FORM OF NON-U.S. BENEFICIAL OWNERSHIP CERTIFICATION BY EUROCLEAR OR 

CLEARSTREAM BANK, SOCIÉTÉ ANONYME 

  
 C-1-1 

 EXHIBIT C-2 

FORM OF NON-U.S. BENEFICIAL OWNERSHIP CERTIFICATION BY MEMBER ORGANIZATION 

  
 C-2-1 

 EXHIBIT D 

FORM OF REPURCHASE REQUEST NOTICE 

Reporting Period: [calendar month] 
  

	 ̈	Check here if nothing to report. 

  

									
	 Transaction
	  	Loan	  	Activity During Period3
	  	  	Date of Reputed
Demand4	  	Party Making Reputed
Demand	  	Date of Withdrawal of
Reputed Demand
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  

	3 	Forward any applicable information or documentation relating to any reputed demands to the Servicer. See Item 11 in the ASF Rule 15Ga-1 Market Implementation Guide for a discussion of what constitutes activity.

	4 	See Item 23 in the ASF Rule 15Ga-1 Market Implementation Guide for a discussion of “demands.” 

  
 D-1EX-10.1

 Exhibit 10.1 

SALE AND SERVICING AGREEMENT 

among 
 CALIFORNIA REPUBLIC AUTO
RECEIVABLES TRUST 2015-2, 
 Issuer, 

CALIFORNIA REPUBLIC FUNDING, LLC, 

Depositor, 
 CALIFORNIA REPUBLIC
BANK, 
 Seller, Servicer, Administrator and Custodian, 

and 
 DEUTSCHE BANK TRUST COMPANY
AMERICAS, 
 Indenture Trustee 

Dated as of June 1, 2015 

 Table of Contents 

 

					
	 	  	Page	 
	 ARTICLE I DEFINITIONS
	  	 	1	  
		
	 Section 1.01 Definitions
	  	 	1	  
	 Section 1.02 Calculations of Interest
	  	 	1	  
		
	 ARTICLE II CONVEYANCE OF RECEIVABLES; BOOKS AND RECORDS; PROVISIONS FOR CLOSING
	  	 	1	  
		
	 Section 2.01 Conveyance of the Receivables
	  	 	1	  
	 Section 2.02 Ownership and Possession of Receivable Files
	  	 	2	  
	 Section 2.03 Books and Records; Intention of the Parties
	  	 	2	  
		
	 ARTICLE III THE CONVEYED ASSETS
	  	 	3	  
		
	 Section 3.01 Representations and Warranties of the Seller; Assignment of Representations and Warranties by the Depositor
	  	 	3	  
	 Section 3.02 Representations and Warranties of the Depositor
	  	 	4	  
	 Section 3.03 Repurchase upon Breach of Representation: Treatment of Repurchase Price
	  	 	4	  
	 Section 3.04 Appointment of Custodian; Custody and Delivery of Receivable Files
	  	 	5	  
	 Section 3.05 Duties of Servicer as Custodian
	  	 	5	  
	 Section 3.06 Instructions; Authority to Act
	  	 	6	  
	 Section 3.07 Custodian’s Indemnification
	  	 	7	  
	 Section 3.08 Effective Period and Termination
	  	 	7	  
	 Section 3.09 Risk Retention
	  	 	8	  
		
	 ARTICLE IV ADMINISTRATION AND SERVICING OF RECEIVABLES
	  	 	8	  
		
	 Section 4.01 Duties of Servicer
	  	 	8	  
	 Section 4.02 Collection of Payments on Receivables; Extensions
	  	 	9	  
	 Section 4.03 Realization upon Receivables
	  	 	10	  
	 Section 4.04 Physical Damage Insurance
	  	 	11	  
	 Section 4.05 Maintenance of Security Interests in Financed Vehicles; Other Amounts
	  	 	11	  
	 Section 4.06 Covenants of Servicer
	  	 	11	  
	 Section 4.07 Purchase of Receivables by Servicer upon Breach of Covenant
	  	 	12	  
	 Section 4.08 Servicing Fee
	  	 	13	  
	 Section 4.09 Servicer’s Monthly Certificate
	  	 	13	  
	 Section 4.10 Annual Statement as to Compliance; Notice of Servicer Termination Event
	  	 	13	  
	 Section 4.11 Annual Independent Accountants’ Report; Attestation and Assessment of Compliance
	  	 	14	  

  
 i 

					
	 	  	Page	 
	 Section 4.12 Access to Certain Documentation and Information Regarding Receivables
	  	 	15	  
	 Section 4.13 Term of Servicer
	  	 	15	  
	 Section 4.14 Access to Information Regarding Issuer and Basic Documents
	  	 	15	  
	 Section 4.15 Agreement on Compliance
	  	 	15	  
	 Section 4.16 Compliance with the FDIC Rule
	  	 	16	  
	 Section 4.17 Duties of a Backup Servicer
	  	 	16	  
	 Section 4.18 Exchange Act Reporting
	  	 	16	  
		
	 ARTICLE V DISTRIBUTIONS; STATEMENTS TO SECURITYHOLDERS
	  	 	18	  
		
	 Section 5.01 Establishment of Accounts
	  	 	18	  
	 Section 5.02 Collections
	  	 	21	  
	 Section 5.03 Application of Collections
	  	 	21	  
	 Section 5.04 Distributions; Payment Notification
	  	 	21	  
	 Section 5.05 Additional Deposits and Payments
	  	 	23	  
	 Section 5.06 Statements to Noteholders and the Indenture Trustee
	  	 	23	  
	 Section 5.07 Advances by the Servicer
	  	 	25	  
		
	 ARTICLE VI THE DEPOSITOR
	  	 	26	  
		
	 Section 6.01 Representations and Warranties of the Depositor
	  	 	26	  
	 Section 6.02 Entities’ Existence
	  	 	27	  
	 Section 6.03 Limitation on Liability of Depositor and Others
	  	 	27	  
	 Section 6.04 Depositor May Own Notes
	  	 	27	  
		
	 ARTICLE VII THE SERVICER AND BACKUP SERVICER
	  	 	28	  
		
	 Section 7.01 Representations and Warranties of Servicer
	  	 	28	  
	 Section 7.02 Appointment and Representations and Warranties of Backup Servicer
	  	 	29	  
	 Section 7.03 Indemnities of Servicer
	  	 	30	  
	 Section 7.04 Merger or Consolidation of, or Assumption of the Obligations of, Servicer or Backup Servicer
	  	 	32	  
	 Section 7.05 Limitation on Liability of Servicer, Backup Servicer and Others
	  	 	33	  
	 Section 7.06 Appointment of Subservicer
	  	 	34	  
	 Section 7.07 Servicer and Backup Servicer Not to Resign
	  	 	34	  
	 Section 7.08 CRB May Own Notes
	  	 	35	  
		
	 ARTICLE VIII DEFAULT
	  	 	35	  
		
	 Section 8.01 Servicer Termination Events
	  	 	35	  
	 Section 8.02 Consequences of a Servicer Termination Event
	  	 	36	  
	 Section 8.03 Appointment of Successor Servicer
	  	 	37	  
	 Section 8.04 Notification to Noteholders
	  	 	38	  

  
 ii 

					
	 	  	Page	 
	 Section 8.05 Waiver of Past Defaults
	  	 	38	  
		
	 ARTICLE IX TERMINATION
	  	 	38	  
		
	 Section 9.01 Optional Purchase of All Conveyed Assets
	  	 	38	  
	 Section 9.02 Termination
	  	 	39	  
		
	 ARTICLE X MISCELLANEOUS
	  	 	39	  
		
	 Section 10.01 Amendment
	  	 	39	  
	 Section 10.02 Protection of Title to Trust
	  	 	40	  
	 Section 10.03 Notices
	  	 	42	  
	 Section 10.04 Assignment by the Depositor or the Servicer
	  	 	43	  
	 Section 10.05 Limitations on Rights of Others
	  	 	43	  
	 Section 10.06 Severability
	  	 	43	  
	 Section 10.07 Counterparts
	  	 	43	  
	 Section 10.08 Headings and Cross-References
	  	 	44	  
	 Section 10.09 Governing Law
	  	 	44	  
	 Section 10.10 Submission to Jurisdiction
	  	 	44	  
	 Section 10.11 No Partnership or Joint Venture
	  	 	44	  
	 Section 10.12 Confidential Information
	  	 	44	  
	 Section 10.13 Assignment by the Issuer
	  	 	44	  
	 Section 10.14 Nonpetition Covenants
	  	 	45	  
	 Section 10.15 Limitation of Liability of Owner Trustee and Indenture Trustee
	  	 	45	  
		
	 EXHIBIT A
	  	 	A-1	  
		
	 EXHIBIT B-1
	  	 	B-1-1	  
		
	 EXHIBIT B-2
	  	 	B-2-1	  
		
	 EXHIBIT B-3
	  	 	B-3-1	  
		
	 SCHEDULE A
	  	 	SA-1	  
		
	 SCHEDULE B
	  	 	SB-1	  
		
	 ANNEX A
	  	 	AX-1	  
		
	 APPENDIX A
	  	 	AA-1	  

  
 iii 

 This SALE AND SERVICING AGREEMENT, dated as of June 1, 2015 (as amended, restated or
otherwise modified from time to time, this “Agreement”), is among CALIFORNIA REPUBLIC AUTO RECEIVABLES TRUST 2015-2, a Delaware statutory trust (the “Issuer”), CALIFORNIA REPUBLIC FUNDING, LLC, a Delaware limited
liability company (the “Depositor”), CALIFORNIA REPUBLIC BANK, a California corporation authorized to transact a banking business (“CRB”), as servicer (in such capacity, the “Servicer”), as seller
of the Receivables to the Depositor (in such capacity, the “Seller”), as administrator (in such capacity, the “Administrator”) and as custodian (in such capacity, the “Custodian”), and DEUTSCHE BANK
TRUST COMPANY AMERICAS, a New York banking corporation, as indenture trustee (the “Indenture Trustee”). 
 WHEREAS, the
Issuer desires to purchase from the Depositor a portfolio of motor vehicle retail installment sale contracts and installment loans and related rights; 

WHEREAS, the Depositor is willing to sell and assign to the Issuer the assets described in the preceding paragraph; and 

WHEREAS, CRB, as Servicer, is willing on behalf of the Issuer to service such motor vehicle retail installment sale contracts and installment
loans 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. Capitalized terms used herein that are not otherwise defined shall have the meanings ascribed thereto in Appendix A. Appendix A also contains rules as to usage applicable to this Agreement. 

Section 1.02 Calculations of Interest. Collections of interest on the Receivables will be calculated in accordance with the
Simple Interest Method. 
 ARTICLE II 

CONVEYANCE OF RECEIVABLES; BOOKS AND RECORDS; 

PROVISIONS FOR CLOSING 

Section 2.01 Conveyance of the Receivables. (a) In consideration for the Issuer’s delivery to or upon the order of the
Depositor of (i) the Notes, and (ii) the Certificates resulting in an increase in the residual value of the equity interest in the Issuer owned by the Depositor, the Depositor does hereby sell, transfer, assign, set over and otherwise
convey to the Issuer, without recourse, but subject to the other terms and conditions of this Agreement, each and all of the following (collectively, the “Depositor Conveyed Assets”): (x) all right, title and interest of the Depositor
in and to the Conveyed Assets, (y) all of the Depositor’s rights under the Receivables Purchase Agreement, including the representations of the Seller made therein and the Depositor’s right to enforce a breach of any such
representation made with respect to any Conveyed Assets, and (z) all proceeds of each of the foregoing. 

 (b) As of the Closing Date, the Issuer acknowledges the conveyance to it of the Depositor
Conveyed Assets transferred on such date, including all right, title and interest of the Depositor in and to the Depositor Conveyed Assets, receipt of which is hereby acknowledged by the Issuer. Concurrent with such delivery, as of the Closing Date
and pursuant to the Indenture the Issuer pledges and/or assigns the Depositor Conveyed Assets and the other Collateral to the Indenture Trustee as security for the Notes. 

Section 2.02 Ownership and Possession of Receivable Files. The ownership of the contents of the Receivable Files with respect to
each Receivable shall be vested in the Issuer and pledged to the Indenture Trustee for the benefit of the Noteholders pursuant to the Indenture, as of the Closing Date, although possession of the Receivable Files on behalf of and for the benefit of
the Noteholders shall remain with the Custodian. 
 Section 2.03 Books and Records; Intention of the Parties. 

(a) Books and records for each Receivable have been clearly marked to reflect the ownership of each Receivable, as of the Closing Date, by the
Issuer, pledged, as of the Closing Date, to the Indenture Trustee for the benefit of the Noteholders pursuant to the Indenture. 
 (b) It is
the intention of the parties hereto that, for non-tax purposes, the transfer and assignment of the Depositor Conveyed Assets and the other Collateral on the Closing Date constitutes an absolute sale (and not a pledge to secure debt or other
obligations of the Depositor) of the Depositor Conveyed Assets and the other Collateral such that (i) the Depositor Conveyed Assets and the other Collateral shall not be included in the bankruptcy estate of the Depositor pursuant to
11 U.S.C. § 541, (ii) the FDIC shall not, by exercise of its authority to disaffirm or repudiate contracts under Section 13(e) of the Federal Deposit Insurance Act, reclaim, recover or recharacterize as property of the
Seller any Depositor Conveyed Assets or any other Collateral transferred by the Seller to the Depositor or disregard the separateness of the Depositor or the Issuer from the Seller, and (iii) the transfer of Depositor Conveyed Assets and the
other Collateral pursuant to this Agreement shall comply with the requirements of 12 C.F.R. Section 360.6. 
 (c) If any of the
assignments and transfers of the Conveyed Assets to the Depositor pursuant to the Receivables Purchase Agreement and of the Depositor Conveyed Assets to the Issuer pursuant to this Agreement, for non-tax purposes, is held or deemed not to be a sale
or is held or deemed to be a pledge of security for a loan, the parties hereto intend that the rights and obligations of the parties shall be established pursuant to the terms of the Receivables Purchase Agreement and this Agreement, and that, in
such event, with respect to such property and proceeds thereof (including all Receivables and related property), the Seller and the Depositor shall be deemed to have granted and do hereby grant to the Issuer as of the Closing Date, a first priority
security interest in the entire right, title and interest of such Person in and to such property and the proceeds thereof. In such event, with respect to the Conveyed Assets and the Depositor Conveyed Assets, respectively, the Receivables Purchase
Agreement and this Agreement, shall each constitute, and each hereby is deemed by the parties to be, a security agreement under the New York UCC. 

  
 2 

 (d) The parties hereto intend to treat the Notes as indebtedness secured by the Collateral for
federal, State and local income, single business and franchise tax purposes as provided for in Section 2.09(a) of the Indenture. 

ARTICLE III 
 THE CONVEYED ASSETS

 Section 3.01 Representations and Warranties of the Seller; Assignment of Representations and Warranties by the Depositor.

 (a) The Seller hereby makes to the Issuer each of the representations and warranties set forth in Section 3.02 and 3.03 of the
Receivables Purchase Agreement as of the date specified therein and consents to the assignment by the Depositor to the Issuer of such representations and warranties and of the Depositor’s rights with respect to any breach thereof, including the
right to require the Seller to repurchase Receivables in accordance with the Receivables Purchase Agreement. Such representations and warranties speak as of the execution and delivery of this Agreement or as of such other date specified therein and
shall survive the sale, transfer and assignment of the Receivables to the Issuer and the pledge and/or assignment, as the case may be, of the Receivables to the Indenture Trustee. 

(b) Pursuant to Section 2.01, the Depositor has sold, assigned, transferred and conveyed to the Issuer all of its rights under the
Receivables Purchase Agreement, including the representations, warranties and covenants of the Seller. Each of the Depositor and the Seller acknowledges that the Issuer is relying on such representations and warranties in accepting the Depositor
Conveyed Assets, together with all rights of the Depositor with respect to any breach thereof, including the right to require the Seller to repurchase the Receivables in accordance with the Receivables Purchase Agreement. It is understood and agreed
that the representations and warranties referred to in this Section 3.01 shall survive the sale of the Conveyed Assets to the Issuer and the delivery thereof to the Custodian. 

(c) The Seller acknowledges the assignment of the Conveyed Assets from the Depositor to the Issuer and Indenture Trustee and hereby agrees
that the Issuer and Indenture Trustee shall have the right to enforce any and all rights under the Receivables Purchase Agreement assigned to the Issuer herein, including (i) the right to cause the Seller to repurchase any Receivable with
respect to which it is in breach of any of its representations and warranties set forth in Section 3.03 of the Receivables Purchase Agreement and Section 3.01(a). Such right may be enforced by the Issuer and the Indenture Trustee directly
against the Seller as though the Issuer and the Indenture Trustee were each a party to the Receivables Purchase Agreement, and the Issuer and the Indenture Trustee shall not be obligated to exercise any such rights, and shall have no liability for
failing to exercise any such rights, indirectly through the Depositor. 

  
 3 

 Section 3.02 Representations and Warranties of the Depositor. The Depositor
represents and warrants with respect to the Receivables being conveyed by it to the Issuer, on which the Issuer relies in accepting such Receivables: 

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

(ii) The Depositor has taken all steps necessary to perfect its security interest against the Obligors in the Financed
Vehicles. 
 (iii) The Receivables constitute “tangible chattel paper” or “electronic chattel paper”
under the applicable UCC; as of the Cutoff Date, no more than 10% of the Pool Balance is represented by Receivables constituting “electronic chattel paper,” and at least 90% of the Pool Balance is represented by Receivables constituting
“tangible chattel paper.” 
 (iv) The Depositor owns and has good and marketable title to the Receivables free and
clear of any Lien, claim or encumbrance of any Person. 
 (v) The Depositor has received a written acknowledgment from the
Servicer that the Servicer is holding the loan agreements and installment sale contracts that constitute or evidence the Receivables solely on behalf and for the benefit of the Issuer. 

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

(vii) None of the installment sale contracts that constitute or evidence the Receivables has any marks or notations indicating
that they have been pledged, assigned, or otherwise conveyed by the Depositor to any Person other than the Purchaser. 
 The representations and warranties
set forth in this Section may not be waived. The representations and warranties set forth in this Section will survive the termination of this Agreement until the Indenture has been discharged. 

Section 3.03 Repurchase upon Breach of Representation: Treatment of Repurchase Price. 

(a) Each of the Depositor, the Issuer, the Seller, and the Servicer shall inform the other parties to this Agreement promptly and in writing
upon the discovery by it of (i) any 

  
 4 

 
breach of the Seller’s representations and warranties deemed to be made pursuant to Section 3.01(a), in each case without regard to any limitation set forth in such representation or
warranty concerning the knowledge of any Person as to the facts stated therein or (ii) any breach of the Depositor’s representations and warranties under Section 3.02. 

(b) Within thirty (30) days of the earlier of either discovery by, or notice to, the Seller of any breach referred to in
Section 3.03(a)(i) above, (i) the Seller shall use its best efforts to promptly cure such breach and (ii) if such breach is not cured, the Seller shall repurchase such Receivable which is the subject of such breach. Within thirty
(30) days of the earlier of either discovery by, or notice to, the Depositor of any breach referred to in Section 3.03(a)(ii) above, (i) the Depositor shall use its best efforts to promptly cure such breach and (ii) if such
breach is not cured, the Depositor shall repurchase such Receivable which is the subject of such breach. Any repurchase of a Receivable pursuant to the foregoing provisions of this Section 3.03, shall be accomplished by payment to the Issuer or
its successors and assigns of the Repurchase Price on or before the Payment Date of the month immediately following the end of the Collection Period in which the thirty (30) day cure period referred to above has ended. 

(c) The sole remedy of the Issuer, the Indenture Trustee or the Noteholders with respect to a breach of a representation or warranty referred
to in Section 3.01(a) or with respect to a breach of a representation or warranty contained in Section 3.02 of the Receivables Purchase Agreement, provided neither such breach has been cured pursuant to Section 3.03(b), shall
be to require the Seller to purchase such Receivable pursuant to this Section 3.03 (it being understood that the indemnification covenants of the Seller hereunder and under the other Basic Documents shall still apply notwithstanding this
clause (c)). 
 Section 3.04 Appointment of Custodian; Custody and Delivery of Receivable Files. To assure uniform quality
in servicing the Receivables and to reduce administrative costs, the Issuer hereby appoints the Servicer, and the Servicer hereby accepts such appointment, to act for the benefit of the Issuer and the Indenture Trustee as Custodian of the Receivable
Files which are constructively delivered by the Issuer to the Indenture Trustee on the Closing Date. 
 Section 3.05 Duties of
Servicer as Custodian. 
 (a) The Servicer shall hold each Receivable File as Custodian for the benefit of and as bailee of the Issuer
and the Indenture Trustee, and shall maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuer to comply with this Agreement and the Indenture Trustee to comply with the
Indenture. In performing its duties as Custodian, the Servicer shall act with reasonable care, and in accordance with the Servicing Standard. The Servicer shall conduct, or cause to be conducted, periodic audits of the Receivable Files held by it as
Custodian under this Agreement and of the related accounts, records and computer systems, in such a manner as shall enable the Issuer or the Indenture Trustee to verify the accuracy of the Servicer’s record keeping, and the Issuer and the
Indenture Trustee shall not be obligated to exercise any such rights, and shall have no liability for failing to exercise any such rights, to so verify the accuracy of the Servicer’s record keeping. The Servicer shall promptly report to the
Issuer and the Indenture Trustee any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and shall promptly take appropriate action to remedy any such failure. Nothing herein
shall be deemed to require an initial review or any periodic review by the Issuer, the Indenture Trustee or any Backup Servicer of the Receivable Files. 

  
 5 

 (b) The Servicer shall maintain each Receivable File at one or more of the locations specified in
Exhibit A to this Agreement or at such other location as shall be specified to the Issuer, the Indenture Trustee and any Backup Servicer by written notice not later than thirty (30) days after any change in location. Upon not less than
thirty (30) days prior written notice to the Issuer, the Indenture Trustee, any Backup Servicer and each Rating Agency, the Servicer may appoint an Affiliate to act as a sub-custodian to maintain up to all Receivable Files at one or more
locations identified in such notice, provided, however, if either Rating Agency shall object in writing to such appointment, such appointment shall not be made and no Receivable File shall be maintained by such Affiliate. Any such Affiliate so
appointed shall execute an agreement with the Servicer obligating the Affiliate to perform all functions otherwise required of the Servicer herein when acting as Custodian. The Servicer shall remain liable as Custodian notwithstanding the
appointment of an Affiliate as sub-custodian and the maintenance by such Affiliate of Receivable Files. Upon reasonable notice by the Issuer or the Indenture Trustee, the Servicer shall make available to the Issuer and the Indenture Trustee or their
duly authorized representatives, attorneys or auditors a list of locations of the Receivable Files and the related accounts, records and computer systems maintained by the Servicer during normal business hours and such review shall be conducted in a
reasonable manner. 
 (c) Upon reasonable request from the Indenture Trustee or, if the Notes have been Paid In Full, from the Owner
Trustee, the Custodian shall release any Receivable File to the Indenture Trustee or the Owner Trustee, as the case may be, or to the agent or designee of the Indenture Trustee or the Owner Trustee, as the case may be, at such place or places as the
Indenture Trustee or the Owner Trustee, as the case may be, may reasonably designate as soon as practicable. Upon the release and delivery of any such document in accordance with the instructions of the Indenture Trustee or the Owner Trustee, as the
case may be, the Custodian shall be released from any further liability and responsibility under this Section 3.05 with respect to such documents and any other provision of this Agreement or any of the other Basic Documents if the fulfillment
of the Custodian’s responsibilities is dependent upon possession of such documents, unless and until such time as such documents shall be returned to the Custodian. In no event shall the Custodian be responsible for any loss occasioned by the
Indenture Trustee’s or the Owner Trustee’s failure to return any Receivable File or any portion thereof in a timely manner. 
 (d)
The Servicer shall not at any time have, or in any way attempt to assert, any interest in any Receivable held by it as Custodian hereunder or in the related Receivable File, other than for collecting or enforcing such Receivable for the benefit of
the Issuer. The entire equitable interest in such Receivable and the related Receivable File shall at all times be vested in the Issuer. 

Section 3.06 Instructions; Authority to Act. The Servicer shall be deemed to have received proper instructions with respect to
the Receivable Files upon its receipt of written instructions signed by a Trust Officer of the Indenture Trustee, or, if the Notes have been Paid In Full, by a Trust Officer of the Owner Trustee. A certified copy of excerpts of authorizing
resolutions of the board of directors of the Indenture Trustee shall constitute conclusive evidence of the authority of any such Trust Officer to act and shall be considered in full force and effect until receipt by the Servicer of written notice to
the contrary given by the Indenture Trustee. 

  
 6 

 Section 3.07 Custodian’s Indemnification. 

(a) The Custodian shall indemnify the Issuer, the Owner Trustee, the Indenture Trustee, any Backup Servicer and each of their respective
officers, directors, employees and agents for any and all liabilities, obligations, losses, compensatory damages, payments, costs or expenses of any kind whatsoever that may be imposed on, incurred by or asserted against the Issuer, the Owner
Trustee, the Indenture Trustee, any Backup Servicer or any of their respective officers, directors, employees or agents as the result of any improper act or omission in any way relating to the maintenance and custody by the Custodian of the
Receivable Files; provided, however, that the Custodian shall not be liable to the Issuer, the Owner Trustee, the Indenture Trustee, any Backup Servicer or any of their respective officers, directors, employees or agents for any
portion of any such amount resulting from (i) actions taken by the Custodian pursuant to instructions as provided in Section 3.06, or (ii) release and delivery of documents by the Custodian as provided in Section 3.05(c) or
(iii) the willful misfeasance, bad faith or gross negligence of such Person listed above, or any such officer, director, employee or agent of such Person. 

(b) Indemnification under this Section 3.07 shall survive the resignation or removal of the Custodian or the termination of this
Agreement with respect to acts or omissions of the Custodian preceding such resignation or removal or termination and shall include reasonable fees and expenses of counsel and expenses of litigation. If the Custodian shall have made any indemnity
payments pursuant to this Section 3.07 and the Person to or on behalf of whom such payments are made thereafter collects any of such amounts from others, such Person shall promptly repay such amounts to the Custodian. 

Section 3.08 Effective Period and Termination. The Servicer’s appointment as Custodian shall become effective as of the
Closing Date and shall continue in full force and effect unless and until terminated pursuant to this Section 3.08 or Section 8.02(a). If the Servicer or any successor Servicer shall resign as Servicer in accordance with the provisions of
this Agreement or if all of the rights and obligations of the Servicer or any successor Servicer are terminated under Section 8.02(a), the appointment of the Servicer as Custodian shall be terminated. The Indenture Trustee or, with the consent
of the Indenture Trustee, the Owner Trustee may terminate the Servicer’s appointment as Custodian, with cause, at any time upon written notification to the Servicer. As soon as practicable after any termination of such appointment (but in no
event more than five (5) Business Days after any such termination of appointment), the Custodian shall deliver the Receivable Files to the Indenture Trustee or the Indenture Trustee’s agent at such place or places as the Indenture Trustee
may reasonably designate. Notwithstanding the termination of the Servicer as Custodian, the Indenture Trustee and the Issuer agree that, upon any such termination and for so long as the Servicer may not be acting as Custodian hereunder, the
Indenture Trustee or the Issuer, as the case may be, shall provide, or cause its agent to provide, access to the Receivable Files to the Servicer for the purpose of enabling the Servicer to perform its obligations under this Agreement with respect
to the servicing of the Receivables. 

  
 7 

 Section 3.09 Risk Retention. The Seller, as sponsor, shall retain an economic
interest in a material portion of the credit risk of the Receivables, which interest retention obligation may be satisfied by retaining a representative sample of the Receivables having a principal balance equal to not less than 5% of the Cutoff
Date Pool Balance. This retained interest may not be sold, pledged or hedged, except for the hedging of interest rate or currency risk, during the term of the transactions contemplated hereby. 

ARTICLE IV 
 ADMINISTRATION AND
SERVICING OF RECEIVABLES 
 Section 4.01 Duties of Servicer. 

(a) The Servicer, for the benefit of the Noteholders, shall manage, service, administer and make collections on the Receivables and perform
the other actions required by the Servicer under this Agreement. The Servicer shall be required to service the Receivables in accordance with reasonable care but in no event less than the care that the Servicer exercises with respect to all
comparable motor vehicle retail installment sale contracts and installment loans that it services for itself or others or the procedures employed by banking institutions that service motor vehicle retail installment sale contracts or installment
loans for their own account or for the account of third parties (the “Servicing Standard”). CRB agrees that for so long as CRB is the Servicer, the Servicing Standard shall be consistent in all material respects with the servicing
standards with respect to motor vehicle retail installment sale contracts and installment loans for which CRB or any of its Affiliates is the owner or the appointed servicer from time to time. 

(b) The Servicer’s duties shall include the collection and posting of all payments on the Receivables, responding to inquiries of
Obligors, investigating delinquencies, sending payment coupons to Obligors, reporting any required tax information to Obligors, accounting for collections, furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with
respect to distributions and performing the other duties specified herein. The Servicer also shall administer and enforce all rights of the Issuer as holder of the Receivables and the Indenture Trustee as pledgee of the Receivables and shall enforce
the provisions of the applicable Dealer Agreements and assignment forms. To the extent consistent with the Servicing Standard, the Servicer shall follow its customary standards, policies and procedures and shall have full power and authority, acting
alone, to do any and all things in connection with the managing, servicing, administration and collection of the Receivables that it may reasonably in good faith in accordance with the Servicing Standard deem necessary or desirable. 

(c) Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of
itself and any one or more of the Issuer, the Owner Trustee or the Indenture Trustee any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments with respect to the
Receivables and with respect to the Financed Vehicles; provided, however, that, notwithstanding the foregoing, the Servicer shall not, except (i) pursuant to an order from a court of competent jurisdiction or a directive from an
arbitrator in an arbitration proceeding or (ii) in 

  
 8 

 
settlement of a legal proceeding in court or in arbitration in a manner consistent with the applicable Servicing Standard or (iii) otherwise in accordance with the Servicing Standard, and
except as provided in Section 4.02(c), execute documents that would release an Obligor from payment of any unpaid amount due under any Receivable, reduce the related APR on a Receivable, waive the right to collect the unpaid balance of any
Receivable from the related Obligor, release any Obligor from its obligations with respect to a Receivable, or extend the final payment date under any Receivable beyond the Class C Final Scheduled Payment Date. 

(d) The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, the Indenture Trustee or the Owner Trustee, a
legal proceeding to enforce the rights of the Issuer under any Contract pursuant to Section 4.03 or to commence or participate in any other legal proceeding (including a bankruptcy proceeding) relating to or involving a Receivable, an Obligor
or a Financed Vehicle. If the Servicer commences or participates in any such legal proceeding in its own name, the Indenture Trustee or the Issuer shall thereupon be deemed to have automatically assigned the applicable Receivable to the Servicer,
solely for purposes of commencing or participating in such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Indenture Trustee or the Issuer to execute and deliver in the Indenture Trustee’s or the
Issuer’s name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in connection with any such proceeding. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not
enforce the rights of the Issuer under the Contract on the ground that it shall not be a real party in interest or a holder entitled to enforce such rights, the Owner Trustee shall, subject to the terms of the Trust Agreement, at the Servicer’s
expense and direction, take steps to enforce such rights, including bringing suit in its name or the name of the Issuer, the Indenture Trustee or the Noteholders. The Owner Trustee and the Indenture Trustee shall upon the written request of the
Servicer furnish the Servicer as soon as practicable with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. 

(e) For all purposes of this Agreement, the Servicer shall be an independent contractor and shall not be subject to the supervision of the
Issuer, the Owner Trustee or the Indenture Trustee with respect to the manner in which it accomplishes the performance of its obligations hereunder. Unless expressly set forth herein or otherwise authorized by the Issuer, the Servicer shall have no
authority to act for or represent the Issuer, the Owner Trustee, the Indenture Trustee or any Noteholder in any way and shall not otherwise be deemed an agent of the Issuer, the Owner Trustee, the Indenture Trustee or any Noteholder. 

Section 4.02 Collection of Payments on Receivables; Extensions. 

(a) The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Contracts as and when
the same shall become due, in accordance with the Servicing Standard. 
 (b) (i) The Servicer may grant payment extensions and holidays on
the Receivables in accordance with the Servicing Standard and as required by law; provided, however, that no such extension shall extend the final payment date on any Receivable beyond the last day of the Collection Period immediately
preceding the Class C Final Scheduled 

  
 9 

 
Payment Date, and (ii) upon any extension of a Receivable not in accordance with Section 4.02(b)(i) or upon the reduction of the APR or Principal Balance of any Receivable other than as
required by Applicable Law (including by the Servicemembers Civil Relief Act, the California Military Families Financial Relief Act or similar State law), the Servicer shall be required to purchase the related Receivable in accordance with
Section 4.07. 
 (c) Notwithstanding the foregoing, the Servicer is authorized in its discretion to grant a Small Balance Waiver with
respect to any Receivable, and to waive any prepayment charge, late payment charge or any other similar fees that may be collected in the ordinary course of servicing any Receivable. 

Section 4.03 Realization upon Receivables. 

(a) Consistent with the Servicing Standard, the Servicer shall use commercially reasonable efforts to repossess or otherwise convert the
ownership of and liquidate any Financed Vehicle securing a Receivable with respect to which the Servicer shall have determined that eventual payment in full is unlikely. The Servicer shall begin such repossession and conversion procedures as soon as
practicable after default on such Receivable in accordance with the Servicing Standard; provided, however, that the Servicer will not repossess or otherwise convert the ownership of a Financed Vehicle within such time period if it
calculates that the proceeds ultimately recoverable with respect to the related Receivable would be increased by forbearance. In repossessing or otherwise converting the ownership of a Financed Vehicle and liquidating the related Receivable, the
Servicer is authorized to follow such customary practices and procedures as it shall reasonably deem necessary or advisable, consistent with the Servicing Standard, which practices and procedures may include the sale of the Financed Vehicle at
public or private sale, the submission of claims under an insurance policy and other actions by the Servicer in order to realize upon such Receivable; provided, however, that in any case in which the Financed Vehicle shall have
suffered damage, the Servicer shall not expend funds in connection with any repair or towards the repossession of such Financed Vehicle unless it shall determine in its reasonable judgment that such repair or repossession shall increase the related
Liquidation Proceeds by an amount materially greater than the expense for such repair or repossession. The Servicer shall be entitled to recover all expenses incurred by it that are reasonably allocated to repossessing and liquidating a Financed
Vehicle into cash proceeds (other than overhead), but only out of the cash proceeds of the sale of such Financed Vehicle or any deficiency obtained from the related Obligor. 

(b) If the Servicer elects to commence a Proceeding to enforce a Dealer Agreement, the act of commencement shall be deemed to be an automatic
assignment from the Issuer to the Servicer of the rights of recourse under such Dealer Agreement. If, however, in any Proceeding, it is held that the Servicer may not enforce a Dealer Agreement on the grounds that it is not a real party in interest
or a Person entitled to enforce the Dealer Agreement, the Issuer, at the Servicer’s expense and direction, shall take such steps as the Servicer deems necessary to enforce the Dealer Agreement, including bringing suit in its name or the names
of the Indenture Trustee, not in its individual capacity, but solely as Indenture Trustee on behalf of the Issuer, or the Holders of the Notes. 

  
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 Section 4.04 Physical Damage Insurance. The Servicer shall, in accordance with the
Servicing Standard, require that each Obligor shall have obtained physical loss damage insurance covering the related Financed Vehicle as of the execution of the related Contract. 

Section 4.05 Maintenance of Security Interests in Financed Vehicles; Other Amounts. 

(a) The Servicer shall, in accordance with the Servicing Standard, take such steps as are necessary to maintain the perfection of the security
interest created by each Receivable in the related Financed Vehicle. The Servicer is hereby authorized to take such steps as are necessary to re-perfect such security interest on behalf of the Issuer and the Indenture Trustee in the event of the
relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Issuer is insufficient, without a notation on the related Financed Vehicle’s certificate of title or without fulfilling any
additional administrative requirements under the laws of the State in which such Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the Issuer and the Indenture Trustee, each of the Servicer and
CRB hereby agree that the designation of CRB as the secured party on such certificate of title shall only be in its capacity as agent of the Issuer and the Indenture Trustee. The Servicer shall not release, in whole or in part, any security interest
in a Financed Vehicle created by the related Receivable except as permitted herein or in accordance with its customary standards, policies, practices and procedures, including the payment in full by the Obligor of all amounts payable pursuant to
that Receivable. 
 (b) The Seller, the Depositor, the Issuer, the Indenture Trustee and the Servicer hereby agree that, upon the occurrence
of a Servicer Termination Event, the Noteholders representing a majority of the Note Balance of the Outstanding Notes of the Controlling Class may take or cause to be taken such actions as may in the Opinion of Counsel to such Noteholders, be
necessary to perfect or re-perfect the security interests in the Financed Vehicles in the name of the Issuer, including by amending the title documents of the Financed Vehicles. The Servicer hereby agrees to pay all expenses related to such
perfection or re-perfection and to take all action necessary therefor. If such expenses are not paid within fifteen (15) days after delivery of any invoice therefor, such expenses shall be paid from the amounts otherwise payable to the Servicer
pursuant to Section 5.04(a)(i). 
 Section 4.06 Covenants of Servicer. By its execution and delivery of this Agreement,
the Servicer hereby covenants as follows (upon which covenants the Issuer, the Indenture Trustee and the Owner Trustee rely in accepting the Collateral and delivering the Notes): 

(a) Liens in Force. No Financed Vehicle securing a Receivable shall be released in whole or in part from the security interest granted
by the Obligor, except upon payment in full of such Receivable (subject to any Small Balance Waiver) or as otherwise contemplated herein or in accordance with the Servicing Standard. 

(b) No Impairment. The Servicer shall do nothing to impair the rights of the Issuer or the Indenture Trustee in the property of the
Issuer. 

  
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 (c) No Amendments. The Servicer shall not extend or otherwise amend the terms of any
Receivable, except in accordance with the Servicing Standard, Section 4.01(c) and Section 4.02. 
 (d) Notice of Material
Litigation. The Servicer shall provide notice of material litigation, actions or judgments involving CRB or the Depositor to the Issuer and the Indenture Trustee; provided that, except with respect to any such material litigation, actions
or judgments involving the Issuer or the Depositor, the Servicer shall be deemed to have complied with the foregoing covenant with respect to any material litigation or judgments relating to the Servicer, to the extent that it or its parent company
(California Republic Bancorp) properly complied with its disclosure obligations under the Exchange Act. 
 (e) Compliance with Agreement,
Basic Documents and Applicable Law. The Servicer shall comply with its obligations under this Agreement and the other Basic Documents to which it is a party. The Servicer shall comply with all Applicable Law where the failure to do so could
reasonably be expected to have a Material Adverse Effect. 
 (f) Arm’s Length. With respect to its obligations in connection
with the Conveyed Assets, the Servicer shall transact and deal with its Affiliates on an arm’s length basis. 
 (g) Licenses and
Approvals. The Servicer shall ensure that it has and maintains all licenses and approvals necessary for the conduct of its business in the jurisdictions where the Financed Vehicles are located. 

(h) Restrictions on Liens. The Servicer shall not (i) create, incur or suffer to exist, or agree to create, incur or suffer to
exist, or consent to or permit in the future (upon the occurrence of a contingency or otherwise) the creation, incurrence or existence of any Lien (other than suffering to exist any tax liens, mechanics’ liens and any other liens that attach to
property by operation of law (including statutory purchase liens) to the extent the applicable obligations are not past due) on or restriction on transferability of any Receivable except for the Lien of the Indenture and the restrictions on
transferability imposed by this Agreement or (ii) other than as contemplated herein or in the Indenture, file or authorize the filing in any jurisdiction of any UCC financing statement that names CRB, the Depositor or any other Person as a
debtor, and any Person other than the Depositor, the Indenture Trustee or the Issuer as a secured party, or sign any security agreement authorizing any secured party thereunder to file any such financing statement, in each case with respect to the
Receivables. 
 Section 4.07 Purchase of Receivables by Servicer upon Breach of Covenant. Upon discovery by any of the
Servicer, the Seller, the Depositor, the Issuer or a Trust Officer of the Indenture Trustee of a breach of any of the covenants set forth in Sections 4.02(b), 4.05(a) or 4.06, the party discovering such breach shall give prompt written
notice to the other parties hereto; provided, however, that the failure to give any such notice shall not affect any obligation of the Servicer under this Section 4.07. Within thirty (30) days of the discovery or notice of
such breach, the Servicer shall use its best efforts to cure such breach. On or before the Payment Date immediately following the end of the Collection Period in which the 30-day cure period referred to above has ended, the Servicer shall, unless
such breach shall have been cured by such date, purchase from the Issuer the Receivable(s) affected by such breach. In consideration of the 

  
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purchase of such Receivable(s), the Servicer shall remit the related Repurchase Price into the Collection Account, with written notice to the Indenture Trustee of such deposit, in the manner
specified in Section 5.05. Subject to Section 7.03, it is understood and agreed that the obligation of the Servicer to purchase any Receivable with respect to which such a breach has occurred and is continuing shall, if such obligation is
fulfilled, constitute the sole remedy against the Servicer for such breach available to the Issuer, the Owner Trustee, the Indenture Trustee or the Noteholders. 

Section 4.08 Servicing Fee. The Servicing Fee shall be payable to the Servicer on each Payment Date. That part of the Servicing
Fee that is based on the Servicing Fee Rate shall be calculated on the basis of a 360-day year comprised of twelve 30-day months. The Servicer shall be required to pay all expenses (apart from expenses incurred in accordance with the Servicing
Standard in connection with liquidating a Financed Vehicle related to a Liquidated Receivable, such as auction, painting, repair or refurbishment in respect of that Financed Vehicle) incurred by it in connection with its activities under this
Agreement (including taxes imposed on the Servicer, expenses incurred in connection with distributions and reports made by the Servicer to the Owner Trustee and the Indenture Trustee and any fees and expenses of sub-servicers to whom it has
delegated servicing responsibilities). 
 Section 4.09 Servicer’s Monthly Certificate. Not later than 10:00 a.m. (New
York City time) on each Determination Date, the Servicer shall deliver to the Owner Trustee and the Indenture Trustee, with a copy to each Rating Agency, a Servicer’s Monthly Certificate, in substantially the form of Exhibit B-1,
containing all information necessary to make the payments to be made on the related Payment Date pursuant to Section 5.04 for the related Collection Period and any other information the Indenture Trustee may reasonably request. Such
Servicer’s Monthly Certificate shall be certified by a Responsible Officer of the Servicer that the information provided is complete, accurate and no event has occurred that, with notice or passage of time, would be an Event of Default or a
Servicer Termination Event. The Servicer shall also specify to the Trustees, no later than the Determination Date following the last day of a Collection Period, in a written notice to the Depositor and the Trustees, the Receivables to be repurchased
by the Seller or purchased by the Servicer, as the case may be, for the related Collection Period. 
 Section 4.10 Annual Statement
as to Compliance; Notice of Servicer Termination Event. 
 (a) The Servicer shall deliver to the Issuer, the Depositor, the Indenture
Trustee, and each Rating Agency, prior to March 31 of each calendar year, beginning with March 31, 2016, an officer’s certificate signed by a Responsible Officer of the Servicer (the “Servicer’s Annual
Certification”) in substantially the form of Exhibit B-2. 
 (b) The Servicer shall
deliver to the Issuer, the Indenture Trustee, each Rating Agency and the Depositor, promptly after having obtained knowledge thereof, but in no event later than two (2) Business Days thereafter, written notice in an officer’s certificate
from a Responsible Officer thereof of any event that is, or with the giving of notice or lapse of time or both would become, a Servicer Termination Event. 

  
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 (c) Prior to March 31 of each calendar year, beginning with March 31, 2016, the
Servicer shall deliver to the Issuer, the Owner Trustee and the Administrator and any other Person that will be responsible for signing the certification required by Rules 13a -14(d) and 15d-14(d) under
the Exchange Act (pursuant to Section 302 of the Sarbanes-Oxley Act of 2002) on behalf of the Issuer with respect to a securitization transaction a certification in the form attached hereto as Exhibit B-3. 

Section 4.11 Annual Independent Accountants’ Report; Attestation and Assessment of Compliance. 

(a) Prior to March 31 of each calendar year, beginning with March 31, 2016, the Servicer shall cause a firm of independent certified
public accountants that is a member of the American Institute of Certified Public Accountants and is independent of the Seller, the Depositor, and the Servicer within the meaning of the Code of Professional Ethics of the American Institute of
Certified Public Accountants, to furnish a report to the Owner Trustee, the Depositor, the Indenture Trustee and each Rating Agency to the effect that such firm has examined the documents or records of the Servicer relating to the Receivables and
that such examination (i) was made in accordance with generally accepted auditing standards and (ii) included tests relating to motor vehicle retail installment sale contracts and installment loans serviced for others and that such firm is
of the opinion that the provisions of this Agreement have been complied with during the preceding calendar year (or, with respect to the first report, the period from the Closing Date to December 31 of such year), and that, on the basis of such
examination, nothing has come to their attention that would indicate that such servicing has not been conducted in compliance therewith during such calendar year or other period, except for (x) such exceptions as such firm shall believe to
be immaterial and (y) such other exceptions as shall be set forth in such statement; provided, however, that the Servicer shall direct the Indenture Trustee in writing to enter into any agreed upon procedure letter that may be
executed in connection with any accountant’s report issued hereunder and the Indenture Trustee shall have no liability in connection with any such accountant’s report or the content of any such agreed upon procedure letter; and
provided, further, that, if at any time a Backup Servicer is acting as Servicer, it may satisfy the obligations set forth in this Section 4.11, by delivering on an annual basis a report prepared with respect to it in accordance
with SSAE 16, such report to be provided by such Backup Servicer under this Section 4.11 within thirty (30) days of its receipt of such report. 

(b) Notwithstanding Section 4.11(a), prior to March 31 of each calendar year, beginning with March 31, 2016, the Servicer shall
deliver the report and attestation set forth in Sections 4.11(c) and (d) and the delivery of a copy of such report and attestation to the Depositor and the Trustees shall be deemed to satisfy the provisions of this Section. 

(c) As and when required pursuant to Section 4.11(b), the Servicer will deliver to the Depositor and the Trustees a report regarding the
Servicer’s assessment of compliance with the Servicing Criteria during the immediately preceding calendar year (or, if applicable, such shorter period as shall have elapsed since the Closing Date in the case of the first such report), in
accordance with paragraph (b) of Rule 13a-18 and Rule 15d-18 of the Exchange Act and Item 1122 of Regulation AB. Such report shall be signed by an authorized officer of the Servicer and shall at a minimum address each of the Servicing
Criteria. 

  
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 (d) The Servicer shall cause a firm of independent certified public accountants described in
Section 4.11(a) above to furnish to the Depositor and the Trustees, concurrently with the report delivered pursuant to Section 4.11(c), an attestation report providing its assessment of compliance with any material instance of
non-compliance, as required by Rule 13a-18 or Rule 15d-18 under the Servicing Criteria covered in such report during the preceding fiscal year, including disclosure of any material instance of non-compliance, as required by Rule 13a-18 or Rule
15d-18 under the Exchange Act and Item 1122(b) of Regulation AB. Any such attestation report shall be in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the Exchange Act, stating, among other things,
that the Servicer’s assertion of compliance with the specified Servicing Criteria is fairly stated in all material respects, or the reason why such an opinion cannot be expressed. Such report must be available for general use and not contain
restricted use language. 
 Section 4.12 Access to Certain Documentation and Information Regarding Receivables. The Servicer
shall provide to representatives of the Owner Trustee, the Indenture Trustee and the Noteholders reasonable access to the documentation regarding the Receivables Files. Access shall be afforded without charge, but only upon reasonable request and
conducted in a reasonable manner, during the normal business hours at the offices of the Servicer. Nothing in this Section shall affect the obligation of the Servicer to observe any Applicable Law prohibiting disclosure of information regarding
the Obligors and the failure of the Servicer to provide access to information as a result of such obligation shall not constitute a breach of this Section. 

Section 4.13 Term of Servicer. The Servicer hereby covenants and agrees to act as Servicer under, and for the term of, this
Agreement, and during such time, perform its obligations hereunder. 
 Section 4.14 Access to Information Regarding Issuer and
Basic Documents. CRB, as initial Servicer (and if CRB is no longer acting as Servicer, CRB, as Seller), shall furnish to the Owner Trustee and the Indenture Trustee from time to time such information regarding the Issuer or the Basic Documents
as the Owner Trustee and Indenture Trustee (i) shall reasonably request prior to an Event of Default or (ii) shall request after an Event of Default. Upon request, but only if the Notes are then not registered in book-entry form on DTC,
the Indenture Trustee shall furnish to the Owner Trustee annually a copy of the Register; provided, however, the Indenture Trustee shall not be obligated to furnish a copy of the Register more than once each calendar year. The Servicer
shall furnish to the Owner Trustee copies of all documents and reports required to be provided by the Servicer pursuant to this Article IV. 

Section 4.15 Agreement on Compliance. The Servicer agrees that, should any Governmental Authority with bank regulatory powers
find that the terms of this Agreement, or any agreement relating to the servicing of the Receivables constitute an unsafe and unsound condition with respect to the Servicer, and such Governmental Authority notifies the Servicer of such finding, then
the Servicer shall negotiate in good faith with the Issuer to correct any such deficiencies and to bring this Agreement into compliance with Applicable Law. 

  
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 Section 4.16 Compliance with the FDIC Rule. 

(a) CRB, in its capacity as Servicer, Administrator and Seller agrees to perform the covenants and agreements set forth in Article XII of the
Indenture applicable to CRB and to otherwise comply with the terms of Article XII of the Indenture. 
 (b) The Depositor agrees to perform
the covenants and agreements set forth in Article XII of the Indenture applicable to the Depositor and to otherwise comply with the terms of Article XII of the Indenture. 

Section 4.17 Duties of a Backup Servicer. Commencing on the Backup Servicer Appointment Date and until such time, if any, as the
Backup Servicer shall become successor Servicer, the Backup Servicer, for the benefit of the Noteholders, shall perform the monitoring, review, inspection and other backup servicing functions substantially as are set forth in Annex A, such
performance to be provided for each Collection Period or at such other times and intervals as may be specified in Annex A. As set forth in Section 8.03(a), in the event CRB is terminated as Servicer, the Backup Servicer agrees that it
shall become the successor Servicer hereunder; provided, that notwithstanding that the Backup Servicer becomes successor Servicer hereunder, it shall have no obligation at any time to make Advances as set forth in Section 5.07. Any
provision in this Agreement to the contrary notwithstanding, no Backup Servicer, shall have any liability for any acts, omissions, negligence, fraud or malfeasance by any Servicer (other than the Backup Servicer should it become Servicer hereunder)
or any other party to this Agreement with respect to the performance by the Servicer or any such other party to this Agreement of their respective duties hereunder, or for any errors made by the Servicer (other than the Backup Servicer should it
become Servicer hereunder) or any such other party to this Agreement in the performance of such duties which cause any losses to Noteholders, Certificateholders or any other third parties, including should the Backup Servicer become successor
Servicer, any breach of a representation, warranty or covenant by a predecessor Servicer and any obligation to repurchase or purchase any Receivable resulting from any such breach or other act or omission by a predecessor Servicer. 

Section 4.18 Exchange Act Reporting. The Indenture Trustee and the Servicer shall reasonably cooperate with the Depositor in
connection with the satisfaction of the Depositor’s reporting requirements under the Exchange Act with respect to the Issuer. So long as the Depositor is required to file Exchange Act Reports with respect to the Issuer, each of the Indenture
Trustee and the Servicer shall promptly notify the Depositor, and, in the case of an event reportable on the Form 8-K, not later than two (2) Business Days after its occurrence, of any event reportable on the Exchange Act Reports of which such
Person (or in the case of the Indenture Trustee, a Trust Officer of the Indenture Trustee) has knowledge. In addition, if so requested by the Depositor for the purpose of satisfying its reporting obligation under the Exchange Act, the Indenture
Trustee and the Servicer shall provide the Depositor with (i) such information which is available to such Person without unreasonable effort or expense and within such timeframe as may be reasonably requested by the Depositor to comply with the
Depositor’s reporting obligations under the Exchange Act and (ii) to the extent such Person is a party (and the Depositor is not a party) to any agreement or amendment required to be filed, copies of such agreement or amendment in
EDGAR-compatible form. Each of the Servicer and the Indenture Trustee acknowledges that interpretations of the requirements of Regulation AB may change 

  
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over time, whether due to interpretive guidance provided by the Commission or its staff, consensus among participants in the asset-backed securities markets, advice of counsel, or otherwise, and
agrees to comply with requests made by the Depositor in good faith for delivery of information under these provisions on the basis of evolving interpretations of Regulation AB and related rules and regulations. Without limiting the generality of the
foregoing, so long as the Depositor is required to file Exchange Act Reports: 
 (a) No later than each Determination Date, each of the
Indenture Trustee and the Servicer shall notify (and the Servicer shall cause any subservicer to notify) the Depositor of any Form 10-D Disclosure Item with respect to such Person (or in the case of the Indenture Trustee, a Trust Officer of the
Indenture Trustee), together with a description of any such Form 10-D Disclosure Item in form and substance reasonably acceptable to the Depositor. In addition to such information as the Servicer is obligated to provide pursuant to other provisions
of this Agreement, if so requested by the Depositor, the Servicer shall provide such information which is available to the Servicer, without unreasonable effort or expense regarding the performance or servicing of the Receivables as is reasonably
required to facilitate preparation of distribution reports in accordance with Item 1121 of Regulation AB. Such information shall be provided concurrently with the statements to Noteholders pursuant to Section 5.06, commencing with the
first such report due not less than five (5) Business Days following such request. 
 (b) Each of the Indenture Trustee and the
Servicer shall promptly notify the Depositor, but in no event later than two (2) Business Days after its occurrence, of any Form 8-K Reportable Event of which such Person (or in the case of the Indenture Trustee, a Trust Officer of the
Indenture Trustee) has actual knowledge. Each Person, other than the Indenture Trustee as set forth above, shall be deemed to have actual knowledge of any such event to the extent that it relates to such Person or any action or failure to act by
such Person. 
 (c) No later than March 15 of each year, commencing in 2016, the Indenture Trustee and the Servicer shall notify the
Depositor of any Form 10-K Disclosure Item, together with a description of any such Form 10-K Disclosure Item in form and substance reasonably acceptable to the Depositor. If any of the Item 1119 Parties have changed since the Closing Date, no
later than February 1 of each year, commencing in 2016, the Depositor shall provide each of the Indenture Trustee and the Servicer with an updated list of the Item 1119 Parties. 

(d) On or before March 15 of each calendar year, commencing in 2016: 

(i) The Indenture Trustee shall deliver to the Depositor and the Servicer the Servicing Criteria Assessment. Such report shall
be signed by an authorized officer of the Indenture Trustee and shall at a minimum address each of the servicing criteria set forth in Item 1122(d) of Regulation AB delivered to the Depositor concurrently with the execution of this Agreement
(provided that such certification may be revised after the date of this Agreement as agreed by the Depositor and the Indenture Trustee to reflect any guidance with respect to such criteria from the Commission). To the extent any of the Servicing
Criteria are not applicable to the Indenture Trustee, with respect to asset-backed securities transactions taken as a whole involving the Indenture Trustee and that are backed by the same asset type backing the Notes, such report shall include such
a statement to that effect. The Indenture Trustee acknowledges and agrees that the 

  
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Depositor and the Servicer with respect to each of the Depositor’s and the Servicer’s duties as the Certifying Person, and each of their respective officers and directors shall be
entitled to rely upon each such servicing criteria assessment and the attestation delivered pursuant to Section 4.11. 

(ii) The Indenture Trustee shall deliver to the Depositor and the Servicer a report of a registered public accounting firm that
attests to, and reports on, the assessment of compliance made by the Indenture Trustee and delivered pursuant to the preceding paragraph. Such attestation shall be in accordance with Rules 13a-18 and 15d-18 of the Exchange Act (or any successor
provisions), Rules 1-02(a)(3) and 2-02(g) of Regulation S-X (or any successor provisions) under the Securities Act and the Exchange Act, including, that, in the event that an overall opinion cannot be expressed, such registered public accounting
firm shall state in such report why it was unable to express such an opinion. Such report must be available for general use and not contain restricted use language. 

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

(e) The Indenture Trustee represents that: 

(i) there are no affiliations relating to the Indenture Trustee with respect to any Item 1119 Party; 

(ii) there are no relationships or transactions with respect to any Item 1119 Party and the Indenture Trustee that are
outside the ordinary course of business or on terms other than would be obtained in an arm’s-length transaction with an unrelated third party, apart from the transactions contemplated under the Basic Documents, and that are material to the
investors’ understanding of the Notes; and 
 (iii) no litigation is pending or, to the best of the Indenture
Trustee’s knowledge, threatened against the Indenture Trustee that, if determined adversely to the Indenture Trustee, in the Indenture Trustee’s good faith and reasonable judgment, is likely to materially and adversely affect the ability
of the Indenture Trustee to perform its obligations under this Agreement. 
 ARTICLE V 

DISTRIBUTIONS; STATEMENTS TO SECURITYHOLDERS 

Section 5.01 Establishment of Accounts. 

(a) The Issuer, for the benefit of the Noteholders, shall cause the Indenture Trustee to establish and maintain in the name of the Indenture
Trustee three non-interest bearing Eligible Accounts (respectively, the “Collection Account”, the “Principal Distribution Account” 

  
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and the “Reserve Account”), each bearing a designation clearly indicating that the funds deposited therein are held for the benefit of Deutsche Bank Trust Company Americas as
Indenture Trustee on behalf of the Noteholders. 
 (b) Funds deposited in each of the Trust Accounts (including amounts, if any, which the
Servicer is required to remit to the Collection Account pursuant to Section 5.02) shall be invested first in Federated Prime Obligations Fund #143 for so long as Federated Prime Obligations Fund #143 is a Permitted Investment. If Federated
Prime Obligations Fund #143 ceases to be a Permitted Investment, the funds deposited in each of the Trust Accounts shall second be held in Goldman Sachs Prime Obligations Fund #1235 for so long as Goldman Sachs Prime Obligations Fund #1235 is a
Permitted Investment. If Goldman Sachs Prime Obligations Fund #1235 ceases to be a Permitted Investment, the funds deposited in each of the Trust Accounts shall third be held in JPM Prime Money Fund #349 for so long as JPM Prime Money Fund #349 is a
Permitted Investment. If JPM Prime Money Fund #349 ceases to be a Permitted Investment, the funds deposited in each of the Trust Accounts shall be invested at the written direction of the Servicer in a money market mutual fund (provided such fund is
a Permitted Investment) that has a principal investment strategy and an investment objective that are each substantially identical to Federated Prime Obligations Fund #143. Such investments shall mature, in the case of the Reserve Account, prior to
the Business Day prior to the next Payment Date, and, in the case of the Collection Account, on the Payment Date in the Collection Period following the Collection Period during which the investment was made; provided that neither the Servicer
nor the Indenture Trustee shall have the power or right to change or alter the particular Permitted Investments identified in the preceding four sentences with respect to which such funds are invested; and provided further that the
Servicer shall provide written notice to the Indenture Trustee, promptly upon any investment in each of the Trust Accounts ceasing to be a Permitted Investment, and such notification shall include an instruction to the Indenture Trustee to withdraw
the funds from the ineligible investment and to deposit such funds into the applicable Permitted Investment set forth in this Section 5.01(b). All Permitted Investments shall be held by the Indenture Trustee for the benefit of the
Noteholders, and no Permitted Investments may be purchased at a premium. Amounts invested in Permitted Investments may not be converted into cash, sold or otherwise disposed of other than (i) upon maturity of the related investment,
(ii) upon the date the related investment no longer meets the investment criteria of a Permitted Investment, or (iii) on any Payment Date, in order to allow the amount invested to be distributed to the Noteholders or Certificateholders in
accordance with Section 5.04. 
 (c) For so long as CRB is acting as Servicer hereunder, in the event that there are Net Investment
Losses in Permitted Investments chosen by the Servicer, the Servicer shall deposit the amount of such Net Investment Losses into the Collection Account no later than one Business Day prior to the Payment Date. The Indenture Trustee shall not be held
liable in any way for any Net Investment Losses, except for losses attributable to the Indenture Trustee’s failure to make payments on such Permitted Investments issued by the Indenture Trustee, in its commercial capacity as principal obligor
and not as Indenture Trustee, in accordance with their terms. 

  
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 (d) (i) The Indenture Trustee shall possess all right, title and interest in all funds and
investment property on deposit from time to time in or credited to the Trust Accounts and in all proceeds thereof (including all income thereon) and all such funds, investment property, proceeds and income shall be part of the assets of the Issuer,
except as otherwise set forth herein. The Trust Accounts shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Noteholders. The Servicer shall have no power or right to change or alter any of the foregoing
initial specifications in Section 5.01(d); provided that if, at any time, any Trust Account ceases to be an Eligible Account, the Indenture Trustee (or the Servicer on its behalf) shall within ten (10) Business Days (or such longer
period, not to exceed thirty (30) calendar days, as to which each Rating Agency may consent) establish a new Trust Account as an Eligible Account and shall transfer any cash and/or any investments from the account that is no longer an Eligible
Account to the new Trust Account. 
 (ii) With respect to the Trust Account Property, the Indenture Trustee agrees, by its
acceptance hereof, that: 
 (A) any Trust Account Property that is held in deposit accounts shall be held solely in the
Eligible Accounts, subject to the last sentence of Section 5.01(d)(i); and each such Eligible Account shall be subject to the exclusive custody and control of the Indenture Trustee, and the Indenture Trustee shall have sole signature authority
with respect thereto; 
 (B) any Trust Account Property that constitutes Physical Property shall be delivered to the
Indenture Trustee in accordance with paragraph (a) of the definition of “Delivery” and shall be held, pending maturity or disposition, solely by the Indenture Trustee or a Securities Intermediary acting solely for the Indenture
Trustee; 
 (C) any Trust Account Property that is a book-entry security held through the Federal Reserve System pursuant to
federal book-entry regulations shall be delivered in accordance with paragraph (b) of the definition of “Delivery” and shall be maintained by the Indenture Trustee, pending maturity or disposition, through continued book-entry
registration of such Trust Account Property as described in such paragraph; 
 (D) any Trust Account Property that is an
“uncertificated security” under Article 8 of the UCC and that is not governed by clause (C) above shall be delivered to the Indenture Trustee in accordance with paragraph (c) of the definition of “Delivery” and
shall be maintained by the Indenture Trustee, pending maturity or disposition, through continued registration of the Indenture Trustee’s (or its nominee’s) ownership of such security; and 

(E) any Trust Account Property that is a Security Entitlement shall be delivered in accordance with paragraph (d) of the
definition of “Delivery” herein and shall be held pending maturity or disposition by the Indenture Trustee or a securities intermediary acting solely for the Indenture Trustee. 

  
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 (iii) The Servicer shall have the power (which power shall be revocable by the
Indenture Trustee, or by the Owner Trustee with the consent of the Indenture Trustee, following a Servicer Termination Event) to instruct the Indenture Trustee to make withdrawals and payments from the Trust Accounts held by the Indenture Trustee
for the purpose of withdrawing any amounts deposited in error into such accounts and withdrawing therefrom amounts that the Servicer is authorized to withdraw in accordance with Section 5.04(a) hereof and Section 5.04 of the Indenture.

 Section 5.02 Collections. The Servicer shall remit to the Collection Account all Collections on the Receivables (as set
forth in clause (i) of the definition of “Collections”) within two (2) Business Days of receipt thereof. 

Section 5.03 Application of Collections. All payments by or on behalf of an Obligor during each Collection Period with respect to
each Receivable shall be allocated to interest, fees, principal and other amounts in accordance with the Simple Interest Method as supplemented by the Servicer’s customary procedures. 

Section 5.04 Distributions; Payment Notification. (a) Prior to any acceleration of the Notes pursuant to Section 5.02
of the Indenture, on each Payment Date, the Indenture Trustee (based solely on information contained in, and as directed by, the related Servicer’s Monthly Certificate) shall make the following deposits and distributions, to the extent of
Available Funds and the Reserve Account Draw Amount on deposit in the Collection Account for such Payment Date (in that order), in the following order of priority: 

(i) first, to the Servicer, the Servicing Fee, and to any Backup Servicer, the Backup Servicing Fee, in each case for the
related Collection Period and all accrued and unpaid Servicing Fees and Backup Servicing Fees with respect to prior Collection Periods; 

(ii) second, pro rata, to the Class A-1 Noteholders, the Accrued Class A-1 Note Interest for the related Interest
Period; to the Class A-2 Noteholders, the Accrued Class A-2 Note Interest for the related Interest Period; to the Class A-3 Noteholders, the Accrued Class A-3 Note Interest for the related Interest Period; and to the
Class A-4 Noteholders, the Accrued Class A-4 Note Interest for the related Interest Period; 
 (iii) third, to the
Principal Distribution Account for distribution to the Noteholders pursuant to Section 5.04(b), the First Allocation of Principal, if any; 

(iv) fourth, to the Class B Noteholders, the Accrued Class B Note Interest for the related Interest Period; 

(v) fifth, to the Principal Distribution Account for distribution to the Noteholders pursuant to Section 5.04(b), the
Second Allocation of Principal, if any; 

  
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 (vi) sixth, to the Class C Noteholders, the Accrued Class C Note
Interest for the related Interest Period; 
 (vii) seventh, to the Principal Distribution Account for distribution to the
Noteholders in accordance with Section 5.04(b), the Third Allocation of Principal, if any; 
 (viii) eighth, to the
Reserve Account, any additional amounts required to increase the amount in the Reserve Account up to the Specified Reserve Account Balance; 

(ix) ninth, to the Principal Distribution Account for distribution to the Noteholders in accordance with Section 5.04(b),
the Regular Principal Distribution Amount, if any; 
 (x) tenth, to the Owner Trustee, the Indenture Trustee and the
Administrator accrued and unpaid fees, reasonable expenses and indemnification amounts due and owing under this Agreement, the Trust Agreement, the Administration Agreement and the Indenture, as applicable, which have not been previously paid; and

 (xi) eleventh, to the Certificate Distribution Account, any funds remaining for distribution to the Certificateholders.

 Notwithstanding any other provision of this Section 5.04, following the occurrence and during the continuation of an Event of
Default which has resulted in an acceleration of the Notes, the Indenture Trustee shall apply all amounts on deposit in the Collection Account pursuant to Section 5.04(b) of the Indenture. 

(b) Prior to the acceleration of the Notes pursuant to Section 5.02 of the Indenture, on each Payment Date and the Redemption Date, the
Indenture Trustee shall distribute all amounts on deposit in the Principal Distribution Account to Noteholders in respect of principal of the Notes to the extent of the funds therein in the following order of priority: 

(i) first, to the Holders of the Class A-1 Notes, until the Class A-1 Notes are Paid In Full; 

(ii) second, to the Holders of the Class A-2 Notes, until the Class A-2 Notes are Paid In Full; 

(iii) third, to the Holders of the Class A-3 Notes, until the Class A-3 Notes are Paid In Full; 

(iv) fourth, to the Holders of the Class A-4 Notes, until the Class A-4 Notes are Paid In Full; 

(v) fifth, to the Holders of the Class B Notes, until the Class B Notes are Paid In Full; and 

  
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 (vi) sixth, to the Holders of the Class C Notes, until the Class C
Notes are Paid In Full. 
 Section 5.05 Additional Deposits and Payments. 

(a) On each Payment Date, the Servicer and the Seller will deposit into the Collection Account the aggregate Repurchase Price with respect to
Receivables purchased by the Servicer pursuant to Section 4.07 or the Seller pursuant to Section 3.03 (or pursuant to Section 3.03 of the Receivables Purchase Agreement), respectively, and the Servicer will deposit into the Collection
Account all amounts, if any, to be paid under Section 9.01 in connection with the Optional Purchase. All such deposits with respect to a Payment Date will be made, in immediately available funds by 11:00 a.m. (New York City time) on such
Payment Date. 
 (b) If the sum of the amounts required to be distributed pursuant to subsections (i) through (vii) of
Section 5.04(a) above exceeds Collections received by the Servicer during such Collection Period and the aggregate Repurchase Price deposited in the Collection Account with respect to each Receivable that will be purchased by the Depositor or
Servicer on or before that Payment Date, the Indenture Trustee will withdraw from the Reserve Account and deposit in the Collection Account no later than the opening of business on the related Payment Date for distribution in accordance with the
priority of payments the Reserve Account Draw Amount, if any (if such amount is set forth in the applicable Servicer’s Monthly Certificate) and deposit such amount in the Collection Account. 

(c) If on any Payment Date, based on the amounts set forth in the applicable Servicer’s Monthly Certificate, the amount on deposit in the
Reserve Account (after giving effect to all deposits to and withdrawals from the Reserve Account on such Payment Date) exceeds the Specified Reserve Account Balance, the Indenture Trustee will withdraw from the Reserve Account and deposit in the
Collection Account the related Reserve Account Excess Amount for inclusion as Collections. 
 (d) On the Closing Date the Seller will
deposit (or cause to be deposited) into the Reserve Account an amount equal to the Initial Reserve Account Deposit Amount. 
 (e) The
Indenture Trustee shall receive written instructions from the Servicer (which will be in the form of the Servicer’s Monthly Certificate) directing the Indenture Trustee to make the foregoing deposits and payments. 

Section 5.06 Statements to Noteholders and the Indenture Trustee. On or before each Determination Date, the Servicer shall
deliver to the Indenture Trustee and each Paying Agent, with a copy to each Rating Agency, and the Indenture Trustee (upon receiving notice from the Issuer that the statement has been posted on the Rule 17g-5 Website), shall make available on
its website (as described below) a copy to the Issuer and to each Noteholder as of the most recent Record Date, a statement setting forth for the Collection Period and Payment Date relating to such Determination Date the following information (to
the extent applicable): 
 (a) the aggregate amount being paid on such Payment Date in respect of interest on and principal of each Class of
Notes; 

  
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 (b) the Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note
Balance, the Class A-4 Note Balance, the Class B Note Balance and the Class C Note Balance, in each case after giving effect to payments on such Payment Date; 

(c) (i) the amount deposited in the Reserve Account in respect of such Payment Date, if any, (ii) the Reserve Account Draw Amount and the
Reserve Account Excess Amount, if any, to be withdrawn from the Reserve Account on such Payment Date, (iii) the Specified Reserve Account Balance and the balance on deposit in the Reserve Account, after giving effect to withdrawals therefrom
and deposits thereto in respect of such Payment Date and (iv) the change in such balance from the immediately preceding Payment Date; 

(d) the First Allocation of Principal, the Second Allocation of Principal, the Third Allocation of Principal and the Regular Principal
Distribution Amount; 
 (e) the Pool Balance as of the close of business on the last day of the preceding Collection Period and the Note
Factor for each Class of Notes, after giving effect to all payments of principal on such Payment Date; 
 (f) the amount of the Servicing
Fee to be paid to the Servicer with respect to the related Collection Period and the amount of any unpaid Servicing Fees; 
 (g) the amount
of the Backup Servicing Fee to be paid to any Backup Servicer with respect to the related Collection Period and the amount of any unpaid Backup Servicing Fees; 

(h) the amount of the Class A-1 Noteholders’ Interest Carryover Shortfall, the Class A-2 Noteholders’ Interest Carryover
Shortfall, the Class A-3 Noteholders’ Interest Carryover Shortfall, the Class A-4 Noteholders’ Interest Carryover Shortfall, the Class B Noteholders’ Interest Carryover Shortfall and the Class C Noteholders’
Interest Carryover Shortfall, if any, on such Payment Date and the change in such amounts from the preceding Payment Date; 
 (i) the
aggregate Repurchase Price with respect to repurchased Receivables paid by (i) the Servicer and (ii) the Seller with respect to the related Collection Period; 

(j) the amount of Collections for the related Collection Period; 

(k) the number of, and aggregate amount of payments due on, the related Receivables which are delinquent as of the end of the related
Collection Period; 
 (l) the aggregate amount of proceeds received by the Servicer, net of reimbursable out-of-pocket expenses, in respect
of a Receivable which is a Liquidated Receivable; 
 (m) the amount remaining of any overcollateralization; and 

(n) the number and aggregate Principal Balance of Receivables for which the related Financed Vehicle has been repossessed. 

  
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 Each amount set forth pursuant to paragraph (a) or (h) above relating to the Notes
shall be expressed as a dollar amount per $1,000 of the Initial Note Balance of the Notes (or Class thereof). 
 The Indenture Trustee will
make available via the Indenture Trustee’s internet website all reports or notices required to be provided by the Indenture Trustee under this Section 5.06 and Section 7.04(b) of the Indenture. Any information that is disseminated in
accordance with the provisions of this Section 5.06 shall not be required to be disseminated in any other form or manner. The Indenture Trustee will make no representations or warranties as to the accuracy or completeness of such documents and
will assume no responsibility therefor. 
 The Indenture Trustee’s internet website shall be initially located at
https://tss.sfs.db.com/investpublic or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders, the Servicer, the Issuer or any Paying Agent. In connection with providing access to the
Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. 

The Indenture Trustee shall have no duty or obligation to verify or confirm the accuracy of any of the information or numbers set forth in the
Servicer’s Monthly Certificate or delivered pursuant to this Section 5.06 by the Servicer to the Indenture Trustee, and the Indenture Trustee shall be fully protected in relying upon such Servicer’s Monthly Certificate and the
information delivered pursuant to this Section 5.06. 
 Section 5.07 Advances by the Servicer. 

(a) Subject to the Servicer determining, in its good faith judgment, that an Advance would not represent a Nonrecoverable Advance, by the
close of business on the Business Day preceding each Payment Date, the Servicer shall make an Advance, out of its own funds or from amounts held for future distributions, by deposit into the Collection Account, in an amount equal to the aggregate of
all scheduled payments of interest on the Receivables which were due during the immediately preceding Collection Period that remained unpaid at the end of such Collection Period or were not otherwise due during such Collection Period because the
payment was deferred by the Servicer. 
 (b) On each Payment Date, the Servicer shall reimburse itself from amounts received in respect of
late scheduled payments of interest for the Outstanding Amount Advanced to the extent of actual collections of late scheduled payments of interest under the related Receivables. 

(c) If the Servicer determines that any Advance made pursuant to this Section 5.07 has become a Nonrecoverable Advance and at the time of
such determination there exists an Outstanding Amount Advanced with respect to each Advance, then the Servicer shall reimburse itself out of funds in the Collection Account for the amount of such Nonrecoverable Advance together with interest
thereon, but only to the extent of such Outstanding Amount Advanced. 

  
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 ARTICLE VI 

THE DEPOSITOR 

Section 6.01 Representations and Warranties of the Depositor. The Depositor makes the following representations to the Issuer,
the Servicer, the Indenture Trustee and the Seller, as of the execution and delivery of this Agreement and as of the Closing Date. The Issuer relies on such representations in accepting the Depositor Conveyed Assets. Such representations and
warranties shall survive the sale, transfer and assignment of the Depositor Conveyed Assets being sold by the Depositor to the Issuer and the pledge thereof to the Indenture Trustee in accordance with the terms of the Indenture. 

(a) Organization and Good Standing. The Depositor is duly formed and validly existing as a limited liability company in good standing
under the laws of the State of Delaware, with the power and authority under its amended and restated limited liability company agreement and under the Delaware Limited Liability Company Act to own its properties and to conduct its business as such
properties are currently owned and such business is presently conducted. 
 (b) Due Qualification. The Depositor is duly qualified to
do business as a foreign limited liability company in good standing, and has obtained all necessary licenses and approvals in all jurisdictions where the failure to do so would adversely affect the Depositor’s ability to transfer the Depositor
Conveyed Assets being conveyed by it to the Issuer pursuant to this Agreement or the validity or enforceability of the Receivables. 
 (c)
Power and Authority. The Depositor has the power and authority under its limited liability company agreement and under the Delaware Limited Liability Company Act to execute and deliver this Agreement and the other Basic Documents to which it
is a party and to carry out their respective terms; the Depositor has full power and authority to sell and assign the property to be sold and assigned to and deposited with the Issuer, and the Depositor shall have duly authorized such sale and
assignment to the Issuer by all necessary limited liability company action; and the execution, delivery and performance of this Agreement and the other Basic Documents to which the Depositor is a party have been duly authorized by the Depositor by
all necessary limited liability company action. 
 (d) Binding Obligation. This Agreement effects a valid sale, transfer, assignment
and conveyance to the Issuer of the Receivables and the other Collateral, enforceable against all creditors of and purchasers from the Depositor. This Agreement and the other Basic Documents to which the Depositor is a party, when duly executed and
delivered by the other parties hereto and thereto, shall constitute legal, valid and binding obligations of the Depositor, enforceable against the Depositor in accordance with their respective terms, except as the enforceability thereof may be
limited by bankruptcy, insolvency, reorganization or similar laws now or hereafter in effect relating to or affecting creditors’ rights generally and relating to general principles of equity (whether applied in a proceeding at law or in
equity). 
 (e) No Violation. The consummation of the transactions contemplated by this Agreement and the other Basic Documents and
the fulfillment of the terms of this Agreement 

  
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and the other Basic Documents shall not conflict with, result in any breach of any of the terms or provisions of or constitute (with or without notice or lapse of time or both) a default under,
the amended and restated limited liability company agreement of the Depositor or any indenture, agreement, mortgage, deed of trust or other instrument or agreement 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, mortgage, deed of trust or other instrument or agreement other than this Agreement and the other Basic Documents; or violate any law, order,
rule or regulation applicable to the Depositor of any Governmental Authority having jurisdiction over the Depositor. 
 (f) No
Proceedings. There are no proceedings or investigations pending or, to the Depositor’s knowledge, threatened, against the Depositor before any Governmental Authority having jurisdiction over the Depositor or its properties:
(i) asserting the invalidity of this Agreement or any other Basic Document; (ii) seeking to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any other Basic Document;
(iii) that could adversely affect the performance by the Depositor of its obligations under, or the validity or enforceability of, this Agreement or any other Basic Document; or (iv) seeking to adversely affect the federal income tax
attributes of the Issuer or the Notes. 
 (g) No Consents. The Depositor is not required to obtain the consent of any other party or
any consent, license, approval, registration, authorization or declaration of or with any Governmental Authority in connection with the execution, delivery, performance, validity or enforceability of this Agreement or any other Basic Document to
which it is a party that has not already been obtained. 
 Section 6.02 Entities’ Existence. During the term of this
Agreement, the Depositor will keep in full force and effect its existence, rights and franchises as a limited liability company under the laws of the State of Delaware and will obtain and preserve its qualification to do business in each
jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the other Basic Documents and each other instrument or agreement necessary or appropriate to the proper administration of
this Agreement and the transactions contemplated hereby. In addition, all transactions and dealings between the Depositor and its Affiliates will be conducted on an arm’s-length basis. The Depositor shall not merge or consolidate with any other
entity or otherwise amend its organizational documents except in accordance with the provisions of its organizational documents. 

Section 6.03 Limitation on Liability of Depositor and Others. The Depositor and any director, officer, employee or agent thereof
may reasonably rely in good faith on the advice of counsel on any document of any kind, prima facie properly executed and submitted by any Person respecting any matters arising hereunder. The Depositor shall not be under any obligation to appear in,
prosecute or defend any legal action that shall not be incidental to its obligations under this Agreement and that in its opinion may involve it in any expense or liability. 

Section 6.04 Depositor May Own Notes. The Depositor and any Affiliate thereof may in its individual or any other capacity become
the owner or pledgee of Notes with the same rights as it would have if it were not the Depositor or an Affiliate thereof, except as expressly provided herein or in any other Basic Document. 

  
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 ARTICLE VII 

THE SERVICER AND BACKUP SERVICER 

Section 7.01 Representations and Warranties of Servicer. The Servicer makes the following representations and warranties upon
which the Issuer is deemed to have relied in acquiring the Depositor Conveyed Assets. Such representations are made as of the date of the execution and delivery of this Agreement and as of the Closing Date, and shall survive the transfer of the
Depositor Conveyed Assets to the Issuer and the pledge thereof to the Indenture Trustee in accordance with the terms of the Indenture. 

(a) Organization and Good Standing. It is a California corporation authorized to transact a banking business duly incorporated and
validly existing under the laws of California and continues to hold a valid certificate to do business as such. It is duly authorized to own its properties and transact its business and is in good standing in each jurisdiction in which the character
of the business transacted by it or any properties owned or leased by it requires such authorization and in which the failure to be so authorized could reasonably be expected to have a Material Adverse Effect. It has, and at all relevant times had,
the power, authority and legal right to acquire, own, and service the Receivables. 
 (b) Securitization Structure. It is the holder
of 100% of the equity and voting interest in the Depositor. 
 (c) Licenses and Approvals. It has obtained all necessary licenses and
approvals, in all jurisdictions where the failure to do so could reasonably be expected to materially and adversely affect its ability to acquire, own and service the Receivables. 

(d) Power and Authority. It has the power and authority to execute and deliver this Agreement and the other Basic Documents to which it
is a party and to carry out their respective terms; and the execution, delivery and performance of this Agreement and the other Basic Documents to which it is a party have been duly authorized by it by all necessary action. 

(e) Binding Obligation. This Agreement and the other Basic Documents to which it is a party constitute its legal, valid and binding
obligations, enforceable against it in accordance with their respective terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights
generally and to general principles of equity, whether applied in a proceeding in equity or at law. 
 (f) No Violation. It is not in
default under any indenture, mortgage, deed of trust, loan agreement, guarantee, lease financing agreement, or similar agreement or instrument to which it is a party except where such default could not reasonably be expected to have a material
adverse effect on the Noteholders. The consummation of the transactions contemplated by this Agreement and the other Basic Documents to which it is a party and the fulfillment of 

  
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their respective terms 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 or both) a default under, its
articles of incorporation or bylaws or any indenture, agreement, mortgage, deed of trust or other instrument or agreement to which it 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 or agreement, other than this Agreement and the other Basic Documents, or violate any law, order, rule or regulation applicable to it of any
Governmental Authority having jurisdiction over it or any of its properties. 
 (g) No Proceedings. There are no proceedings or
investigations pending, or to its knowledge threatened, against it before any Governmental Authority having jurisdiction over it or its properties: (i) asserting the invalidity of this Agreement or any of the other Basic Documents;
(ii) seeking to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the other Basic Documents; (iii) that could materially and adversely affect the performance by it of
its obligations under, or the validity or enforceability of, this Agreement or any of the other Basic Documents; or (iv) seeking to adversely affect the federal income tax or other federal, State or local tax attributes of the Notes. 

(h) No Consents. The Servicer is not required to obtain the consent of any other party or any consent, license, approval, registration,
authorization or declaration of or with any Governmental Authority in connection with the execution, delivery, performance, validity or enforceability of this Agreement or any other Basic Document to which it is a party that has not already been
obtained. 
 Section 7.02 Appointment and Representations and Warranties of Backup Servicer. Within 60 days of the occurrence
of a Backup Servicer Appointment Event, CRB shall appoint an entity to be the Backup Servicer hereunder, which appointment will become effective upon the satisfaction of the Rating Agency Condition with respect to such appointment. Upon such
appointment, such Backup Servicer will become party to this Agreement by executing a joinder hereto, and will assume the duties of, and otherwise act as, the Backup Servicer in accordance with the terms hereof. Effective the Backup Servicer
Appointment Date, such Backup Servicer further makes the following representations and warranties upon which CRB is deemed to have relied in appointing the Backup Servicer: 

(a) Organization and Good Standing. It is duly incorporated or organized, as the case may be, and validly existing under the laws of
the jurisdiction of its incorporation or organization, as the case may be, and continues to hold a valid certificate to do business as such. It is duly authorized to own its properties and transact its business and is in good standing in each
jurisdiction in which the character of the business transacted by it or any properties owned or leased by it requires such authorization and in which the failure to be so authorized could reasonably be expected to have a Material Adverse Effect. It
has at all relevant times the power, authority and legal right to service the Receivables. 
 (b) Licenses and Approvals. It has
obtained all necessary licenses and approvals, in all jurisdictions where the failure to do so could reasonably be expected to materially and adversely affect its ability to service the Receivables. 

  
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 (c) Power and Authority. It has the power and authority to execute and deliver this
Agreement and to carry out its terms; and the execution, delivery and performance of this Agreement has been duly authorized by it by all necessary action. 

(d) Binding Obligation. This Agreement constitutes its legal, valid and binding obligation, enforceable against it in accordance with
its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights generally and to general principles of equity, whether applied in a
proceeding in equity or at law. 
 (e) No Violation. It is not in default under any indenture, mortgage, deed of trust, loan
agreement, guarantee, lease financing agreement, or similar agreement or instrument to which it is a party except where such default could not reasonably be expected to have a material adverse effect on the Noteholders. The consummation of the
transactions contemplated by this Agreement and the fulfillment of its terms 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 or both) a default under, its
articles of incorporation or bylaws or any indenture, agreement, mortgage, deed of trust or other instrument or agreement to which it 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 or agreement (other than this Agreement, if applicable), or violate any law, order, rule or regulation applicable to it of any Governmental Authority
having jurisdiction over it or any of its properties. 
 (f) Proceedings. There are no proceedings or investigations pending, or to
its knowledge threatened, against it before any Governmental Authority having jurisdiction over it or its properties that could materially and adversely affect the performance by it of its obligations under, or the validity or enforceability of,
this Agreement. 
 (g) No Consents. The Backup Servicer is not required to obtain the consent of any other party or any consent,
license, approval, registration, authorization or declaration of or with any Governmental Authority in connection with the execution, delivery, performance, validity or enforceability of this Agreement that has not already been obtained. 

Section 7.03 Indemnities of Servicer. 

(a) The Servicer and any Backup Servicer shall each be liable in accordance herewith only to the extent of the obligations specifically
undertaken by the Servicer and the Backup Servicer, respectively, and the representations made by the Servicer and the Backup Servicer under this Agreement and, in the case of the Servicer, the other Basic Documents. 

(b) The Servicer shall indemnify the Issuer, the Owner Trustee, the Indenture Trustee, any Backup Servicer and any of the officers, directors,
employees and agents of each such Person from and against any and all costs (including reasonable legal fees and expenses), expenses, losses, damages, claims and liabilities (including servicing, underwriting or realization issues (including with
respect to violations of consumer protection laws)) arising out of or resulting from the use, ownership or operation by the Servicer or any Affiliate thereof of a Financed Vehicle, excluding any losses incurred solely in connection with the sale of
any repossessed Financed Vehicles in a commercially reasonable manner and in compliance with the terms of this Agreement. 

  
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 (c) The Servicer shall indemnify the Issuer, the Owner Trustee, the Indenture Trustee, any Backup
Servicer and any of the officers, directors, employees and agents of each such Person, from and against any taxes that may at any time be asserted against any of such parties with respect to the transactions contemplated in this Agreement, including
any sales, gross receipts, tangible or intangible personal property, privilege or license taxes (but not including (i) any federal, state or other income taxes, (ii) any general corporation or franchise taxes, or (iii) any taxes
asserted with respect to the transfer of the Collateral to the Issuer or the issuance and original sale of the Notes), and any costs and expenses in defending against the same (including reasonable legal fees and expenses). For the avoidance of
doubt, the Servicer will not indemnify any Person for any costs, expenses, losses, claims, damages or liabilities due to the credit risk of any Obligor and for which reimbursement would constitute recourse for uncollectible Receivables. 

(d) The Servicer shall indemnify the Indenture Trustee and the Owner Trustee, any Backup Servicer and their respective officers, directors,
employees and agents, from and against any loss, liability, expense, damage or injury (including reasonable legal fees and expenses) directly or indirectly related to, arising out of or incurred in connection with (i) in the case of the
Indenture Trustee, the Indenture Trustee’s performance of its duties under the Indenture, (ii) in the case of the Owner Trustee, the Owner Trustee’s performance of its duties under the Trust Agreement, (iii) the acceptance,
administration or performance by, or action or inaction of, the Indenture Trustee or the Owner Trustee, as applicable, of the trusts and duties contained in the Basic Documents, or (iv) in the case of any Backup Servicer, such Backup
Servicer’s performance of its duties under this Agreement, except in each case to the extent that such loss, liability, expense, damage or injury suffered: (A) is due to the willful misconduct, bad faith or negligence of the Person seeking
to be indemnified; (B) to the extent otherwise payable to the Indenture Trustee, arises from the Indenture Trustee’s breach of any of its representations or warranties under the Indenture; (C) to the extent otherwise payable to the
Owner Trustee, arises from the Owner Trustee’s breach of any of its representations or warranties set forth under the Trust Agreement; (D) to the extent otherwise payable to such Backup Servicer, arises from such Backup Servicer’s
breach of any of its representations or warranties set forth under this Agreement; or (E) shall arise out of or be incurred as a result of the negligence or willful misconduct of such Backup Servicer in connection with its performance of the
duties of successor Servicer hereunder should the Indenture Trustee assume such duties. 
 (e) The Servicer shall indemnify, defend and hold
harmless the Issuer, the Owner Trustee, the Indenture Trustee, any Backup Servicer and their respective officers, directors, employees and agents from and against any and all costs, expenses, losses, claims, damages and liabilities (including
reasonable legal fees and expenses) to the extent that such cost, expense, loss, claim, damage or liability arose out of, or was imposed upon any such Person (i) through any breach of the Servicer’s obligations hereunder and under the
other Basic Documents, (ii) the negligence, willful misfeasance or bad faith of the Servicer (except errors in judgment) in the performance of its duties under this Agreement, (iii) by reason of breach of the Servicer’s
representations, warranties, obligations or duties under this Agreement, or (iv) for any violation of law by the Servicer. 

  
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 (f) Indemnification under this Section 7.03 shall survive the resignation or removal of the
Servicer or the termination of this Agreement with respect to acts of the Servicer prior thereto and shall include without limitation reasonable fees and expenses of counsel and reasonable expenses of litigation. For purposes of this
Section 7.03, in the event of the termination of the rights and obligations of CRB (or any successor thereto pursuant to Section 7.04) as Servicer pursuant to Section 8.01(a), or the resignation by such Servicer pursuant to
Section 7.07, such Servicer shall be deemed to be the Servicer pending appointment of a successor Servicer (other than the Backup Servicer, if any, or the Indenture Trustee) pursuant to Section 8.03, and in the case of any Backup Servicer
or the Indenture Trustee becoming successor Servicer, CRB shall continue to be deemed the Servicer for purposes of the indemnities in this Section 7.03. If the Servicer shall have made any indemnity payments pursuant to this Section 7.03,
and the Person to or on behalf of whom such payments are made thereafter collects any of such amounts from others, such Person shall promptly repay such amounts to the Servicer, without interest. 

(g) Indemnification under this Section 7.03 shall survive the resignation or removal of the Owner Trustee, the Indenture Trustee, any
Backup Servicer or the termination of this Agreement. 
 Section 7.04 Merger or Consolidation of, or Assumption of the Obligations
of, Servicer or Backup Servicer. Any Person (i) into which the Servicer or any Backup Servicer may be merged or consolidated, (ii) resulting from any merger or consolidation to which the Servicer or any Backup Servicer shall be a
party, (iii) that acquires by conveyance, transfer or lease substantially all of the assets of the Servicer or any Backup Servicer or (iv) succeeding to the business of the Servicer or any Backup Servicer, which Person shall execute an
agreement of assumption to perform every obligation of the Servicer or such Backup Servicer, as applicable, under this Agreement and any other Basic Document to which such entity is a party, shall be the successor to the Servicer or the Backup
Servicer, respectively, under this Agreement or any such Basic Document without the execution or filing of any paper or any further act on the part of any of the parties to this Agreement. The Servicer or such Backup Servicer, as applicable, shall
provide notice of any merger, consolidation or succession pursuant to this Section 7.04 to the Owner Trustee, the Indenture Trustee and each Rating Agency. Notwithstanding the foregoing, the Servicer shall not merge or consolidate with any
other Person where it shall not be the survivor thereof or permit any other Person to become a successor to its automobile finance or leasing business unless (i) immediately after giving effect to such transaction, no representation or warranty
made pursuant to Section 7.01 shall have been breached (for purposes hereof, such representations and warranties shall speak as of the date of the consummation of such transaction) and no event that, after notice or lapse of time or both, would
become a Servicer Termination Event shall have occurred, (ii) the Servicer shall have delivered to the Owner Trustee and the Indenture Trustee an officer’s certificate from a Responsible Officer and an Opinion of Counsel stating that such
consolidation, merger or succession and such agreement of assumption comply with this Section 7.04 and that all conditions precedent provided for in this Agreement relating to such transaction have been complied with, (iii) the Servicer
shall have 

  
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delivered to the Owner Trustee and the Indenture Trustee an Opinion of Counsel stating that either (A) all financing statements and continuation statements and amendments thereto have been
executed and filed that are necessary to preserve and protect the interest of the Issuer and the Indenture Trustee, respectively, in the assets of the Issuer and reciting the details of such filings or (B) no such action shall be necessary to
preserve and protect such interest, (iv) such other Person is an Eligible Servicer and (v) such other Person shall have validly assumed the obligations of the Servicer under the Basic Documents. 

Section 7.05 Limitation on Liability of Servicer, Backup Servicer and Others. 

(a) Neither the Servicer nor any of its respective directors, officers, employees or agents shall be under any liability to the Issuer, the
Depositor, the Indenture Trustee, the Owner Trustee, or the Noteholders, for any action taken or for refraining from the taking of any action pursuant to this Agreement; provided, however, that this provision shall not protect the
Servicer against any liability by reason of willful misfeasance, bad faith or negligence in the performance of its duties nor otherwise alter the indemnification obligations under Section 7.03. The Servicer, any Backup Servicer and any of their
respective directors, officers, employees or agents may conclusively rely in good faith on the written advice of counsel on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising under this
Agreement or any other Basic Document. 
 (b) Should the Indenture Trustee at any time agree to become successor Servicer hereunder, the
parties expressly acknowledge and consent to the Indenture Trustee’s simultaneously acting in the capacity of successor Servicer and Indenture Trustee. The Indenture Trustee may, in such capacities, discharge its separate functions fully,
without hindrance or regard to conflict of interest principles, duty of loyalty principles or other breach of fiduciary duties to the extent that any such conflict or breach arises from the performance by the Indenture Trustee of express duties set
forth in this Agreement in any of such capacities. 
 (c) Backup Servicer undertakes to perform only such duties and obligations as are
specifically set forth in this Agreement, it being expressly understood by all parties hereto that there are no implied duties or obligations of Backup Servicer hereunder. Without limiting the generality of the foregoing, Backup Servicer, except as
expressly set forth herein, shall have no obligation to supervise, verify, monitor or administer the performance of the Servicer. Backup Servicer may act through its agents, nominees, attorneys and custodians in performing any of its duties and
obligations under this Agreement but any such appointment shall not release Backup Servicer from its obligations and responsibilities hereunder. 

Notwithstanding anything contained herein to the contrary, in no event shall Backup Servicer be liable for any consequential, incidental or special damages,
including, but not limited to damages for loss of currency, funds, data, profits or goodwill. Backup Servicer’s maximum liability for any breach of this Agreement by it in its capacity as Backup Servicer shall not exceed the fees actually paid
to Backup Servicer hereunder for the services as Backup Servicer for the 12 month period immediately preceding such breach, provided, however, that the limitations set forth in this Section 7.05 shall not apply to or in any way limit Backup
Servicer’s liability arising from the willful misconduct or gross negligence of Backup Servicer. It is expressly agreed and acknowledged that Backup Servicer is not guaranteeing or insuring the performance of or assuming any liability for the
obligations of the other parties hereto or any of the Receivables. 

  
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 Backup Servicer makes no warranty or representation and shall have no responsibility as to the content,
enforceability, completeness, validity, sufficiency, value, genuineness, ownership or transferability of the Receivables, will not be required to and will not make any representations as to the validity or value of any of the Receivables, shall not
be responsible for the eligibility of any Receivable, or, except as is otherwise provided hereunder in the event Backup Servicer is then acting as successor Servicer, for the validity, perfection, priority or enforceability of the liens in any of
the Receivables, for insuring the Receivables or for the payment of taxes, charges, assessments or Liens upon the Receivables or otherwise as to the maintenance of the Receivables. 

Section 7.06 Appointment of Subservicer. 

(a) Subject to clause (b) below, the Servicer may at any time, upon notice to the Indenture Trustee, the Owner Trustee, and each Rating
Agency, reasonably appoint a subservicer in good faith to perform all or any portion of its obligations as Servicer hereunder. 
 (b) The
appointment of a subservicer pursuant to clause (a) above is subject to the condition that the Servicer remains obligated and liable to the Owner Trustee, the Indenture Trustee and the Noteholders for the servicing and administering of the
Receivables in accordance with the provisions hereof without diminution of such obligation and liability by virtue of the appointment of such subservicer and to the same extent and under the same terms and conditions as if the Servicer alone were
servicing and administering the Conveyed Assets. 
 (c) The fees and expenses of any subservicer shall be as agreed between the Servicer and
such subservicer from time to time, and none of the Owner Trustee, any Backup Servicer, the Indenture Trustee, the Issuer or the Noteholders shall have any responsibility therefor. 

(d) Any such subservicing agreement shall provide that a successor to the Servicer may at its discretion, upon becoming successor Servicer,
either continue or terminate such fee arrangement. 
 Section 7.07 Servicer and Backup Servicer Not to Resign. 

(a) Subject to the provisions of Section 7.04, neither the Servicer nor any Backup Servicer shall resign from the obligations and duties
imposed on it by this Agreement, except upon a determination that the performance of its duties under this Agreement shall no longer be permissible under Applicable Law. 

(b) Notice of any determination that the performance by the Servicer or any Backup Servicer of its duties contemplated hereunder is no longer
permitted under Applicable Law shall be communicated to the Owner Trustee and the Indenture Trustee at the earliest practicable time (and, if such communication is not in writing, shall be confirmed in writing at the earliest practicable time) and
any such determination shall be evidenced by an Opinion of 

  
 34 

 
Counsel to such effect delivered by the Servicer or any Backup Servicer to the Owner Trustee and the Indenture Trustee concurrently with or promptly after such notice. Except as may otherwise be
required by Applicable Law, no resignation of the Servicer or any Backup Servicer shall become effective until a successor acceptable to the Noteholders representing a majority of the Note Balance of the Outstanding Notes of the Controlling Class
shall have assumed the responsibilities and obligations of such Person in accordance with Section 8.03. If no successor has been appointed within thirty (30) days of resignation or removal, the Noteholders representing a majority of the
Note Balance of the Outstanding Notes of the Controlling Class may petition any court of competent jurisdiction for such appointment. 

Section 7.08 CRB May Own Notes. CRB and any Affiliate thereof may in its individual or any other capacity become the owner or
pledgee of Notes with the same rights as it would have if it were not the Servicer, except as expressly provided herein or in any Basic Document. 

ARTICLE VIII 
 DEFAULT 

Section 8.01 Servicer Termination Events. 

(a) For purposes of this Agreement, the occurrence and continuance of any of the following shall constitute a “Servicer Termination
Event”: 
 (i) failure by the Servicer to deposit into the Collection Account any proceeds or any payment required
to be so delivered under the terms of this Agreement that continues unremedied for a period of two (2) Business Days; 

(ii) any representation or warranty made or deemed made by or on behalf of the Servicer in or in connection with this
Agreement, the other Basic Documents, or in any report, certificate, financial statement or other document furnished pursuant to or in connection herewith or therewith or any amendment or modification hereof or thereof, shall prove to have been
incorrect when made or deemed made and the circumstance or condition in respect of which such representation or warranty was incorrect shall not have been eliminated or otherwise cured for a period of thirty (30) days; 

(iii) failure by the Servicer to deliver to the Owner Trustee, the Indenture Trustee, and the Seller the Servicer’s
Monthly Certificate by the applicable Determination Date, which failure continues unremedied for a period of five (5) Business Days; 

(iv) failure on the part of the Servicer duly to observe or perform any other covenants or agreements of the Servicer set forth
in this Agreement, which failure (i) could materially and adversely affect the rights of the Noteholders and (ii) continues unremedied for a period of thirty (30) days after: (A) the date of discovery of such failure by a
Responsible Officer of the Servicer; (B) the date on which the Servicer should reasonably have been aware of such failure; or (C) written notice of such failure 

  
 35 

 
requiring the same to be remedied shall have been received by the Servicer from any of the Owner Trustee, the Indenture Trustee or the Noteholders holding at least 25% of the Note Balance of the
Outstanding Notes of the Controlling Class; 
 (v) the Servicer shall cease to be an Eligible Servicer; 

(vi) an Insolvency Event shall occur with respect to the Servicer; 

(vii) the Servicer has assigned or delegated any of its obligations under this Agreement or any other Basic Document other than
in accordance with the terms herein and/or therein, as applicable; or 
 (viii) the Servicer has failed to obtain or maintain
all licenses and approvals necessary for the conduct of its business in the jurisdictions where the failure to do so could reasonably be expected to have a material adverse effect on the Issuer or the Noteholders. 

Section 8.02 Consequences of a Servicer Termination Event. 

(a) Following a Servicer Termination Event, the Indenture Trustee may, or, at the written direction of Noteholders holding a majority of the
Note Balance of the Outstanding Notes of the Controlling Class, shall, terminate all of the rights and obligations of the Servicer under this Agreement by notice in writing to the Servicer, each Rating Agency and the Noteholders. On or after the
receipt by the Servicer of such written notice, all authority, power, obligations and responsibilities of the Servicer under this Agreement automatically shall pass to, be vested in and become obligations and responsibilities of, either the Backup
Servicer (if any is then appointed and becomes the successor Servicer pursuant to Section 8.03) or the successor Servicer appointed pursuant to Section 8.03; provided, however, that such successor Servicer shall have no
liability with respect to any obligation that was required to be performed by the terminated Servicer prior to the date that such successor Servicer becomes the Servicer or any claim of a third party based on any alleged action or inaction of the
terminated Servicer. As soon as practicable after the declaration of a Servicer Termination Event, the Indenture Trustee shall notify the Backup Servicer, if any, thereof and in any event shall notify the Backup Servicer, if any, of any notice by
the Indenture Trustee to, or direction to the Indenture Trustee from, Noteholders regarding a Servicer Termination Event. 
 (b) The
successor Servicer is authorized and empowered by this Agreement to execute and deliver, on behalf of the terminated Servicer, as attorney-in-fact or otherwise, any and all documents and other instruments and to do or accomplish all other acts or
things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and endorsement of the Receivables, and related documents to show the Indenture Trustee (or the Issuer if the Notes have been Paid
In Full) as lienholder or secured party on the related certificates of title of the Financed Vehicles or otherwise. The terminated Servicer agrees to cooperate with the successor Servicer and with the Indenture Trustee in effecting the termination
of the responsibilities and rights of the terminated Servicer under this Agreement, including (i) the transfer to the successor Servicer for administration by it of all money and property held by the terminated Servicer with respect to the
Receivables and other 

  
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records relating to the Receivables, including any portion of any Receivable File, held by the terminated Servicer and a reasonably current computer tape or other electronic storage device
containing in readable form all information necessary to enable the successor Servicer to service the Receivables, (ii) the prompt transfer of any remaining amounts relating to Receivables in the possession of the Servicer to the Indenture
Trustee, (iii) the notification of existing Obligors of the new address for payment, and (iv) the prompt remittance of any future amounts received by the Servicer with respect to Receivables to the successor. The terminated Servicer shall
also provide the successor Servicer access to personnel and computer records of such terminated Person in order to facilitate the orderly and efficient transfer of servicing duties. 

Section 8.03 Appointment of Successor Servicer. 

(a) On and after the time the Servicer receives a notice of termination pursuant to Section 8.02 or upon the resignation of the Servicer
pursuant to Section 7.07, the Backup Servicer, if any (or under the circumstances provided in Section 8.03(b), a successor Servicer other than such Backup Servicer, upon acceptance of appointment as Servicer in case of such a successor
Servicer other than any Backup Servicer), such Backup Servicer or other successor Servicer, as the case may be, shall be the successor in all respects to the Servicer in its capacity as Servicer under this Agreement and shall be subject to all the
rights, responsibilities, restrictions, duties, liabilities and termination provisions relating to the Servicer except as otherwise stated herein. Each party hereto shall take such action, consistent with this Agreement, as shall be necessary to
effectuate any such succession. If such a successor is acting as Servicer, it shall be subject to termination under Section 8.01(a) upon the occurrence of any Servicer Termination Event after its appointment as successor Servicer. 

(b) Upon the Servicer’s receipt of a notice of termination pursuant to Section 8.02 or upon the resignation of the Servicer pursuant
to Section 7.07, to the extent no Backup Servicer is then appointed, CRB shall appoint an Eligible Servicer to be the successor to the Servicer, which appointment will become effective upon the satisfaction of the Rating Agency Condition with
respect to such appointment. If (i) the Holders of a majority of the Note Balance of the Outstanding Notes of the Controlling Class do not desire that the Backup Servicer, if any, or the appointed successor Servicer act as Servicer or
(ii) the Backup Servicer, if any, or the appointed successor Servicer is legally unable to act, or, in the case of a successor other than any Backup Servicer, shall choose not to act as Servicer, Noteholders holding a majority of the Note
Balance of the Outstanding Notes of the Controlling Class may exercise at any time the right to direct the appointment of any Eligible Servicer as the successor to the Servicer and shall have no liability to the Owner Trustee, the Indenture Trustee,
the Servicer, the Depositor, any Noteholders or any other Person if it does so. Notwithstanding the above, if the Holders of a majority of the Note Balance of the Outstanding Notes of the Controlling Class do not act, the Servicer, the Indenture
Trustee, the Owner Trustee or Noteholders evidencing at least 25% of the Note Balance of the Outstanding Notes may petition a court of competent jurisdiction to appoint any Eligible Servicer as the successor to the Servicer, provided that for
purposes of computing the foregoing percentage, any Notes held by CRB or any of its Affiliates shall be disregarded. Pending appointment pursuant to this section, the outgoing Servicer shall continue to act as Servicer until a successor has been
appointed and accepted such appointment. The Indenture Trustee shall withdraw from the Collection Account and remit to the successor Servicer or such other party entitled thereto all reasonably incurred Servicer transition costs. 

  
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 (c) Upon appointment, the successor Servicer shall be the successor in all respects to its
predecessor and shall be subject to all the responsibilities, duties and liabilities arising thereafter relating thereto placed on its predecessor, and shall be entitled to the Servicing Fee as and to the extent provided for in this Agreement and
all the rights granted to the predecessor in such capacity by the terms and provisions of this Agreement and any other applicable Basic Document. 

Section 8.04 Notification to Noteholders. Upon any termination of, or appointment of a successor to, the Servicer pursuant to
this Article VIII, the Indenture Trustee shall give prompt written notice thereof to the Noteholders and each Rating Agency. 

Section 8.05 Waiver of Past Defaults. The Noteholders holding a majority of the Note Balance of the Outstanding Notes of the
Controlling Class may, on behalf of all Noteholders, waive in writing any default by the Servicer, except a default in making any required deposits to or payments from the Collection Account, the Principal Distribution Account or the Reserve
Account. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Termination Event arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any
subsequent or other default or impair any right consequent thereto. 
 ARTICLE IX 

TERMINATION 
 Section 9.01
Optional Purchase of All Conveyed Assets. 
 (a) The Servicer shall have the right at its option (the “Optional
Purchase”) to purchase the trust estate (other than the Reserve Account) from the Issuer on any Payment Date upon satisfaction of either of the following conditions: 

(i) as of the last day of the related Collection Period, the Pool Balance has declined to 10% or less of the Cutoff Date Pool
Balance; the purchase price for the Trust Estate (other than the Reserve Account) (the “Optional Purchase Price”) shall equal the Repurchase Price of the Receivables as of the last day of the related Collection Period, provided,
however, that such Optional Purchase Price, together with amounts on deposit in the Reserve Account and the Collection Account, must equal or exceed (x) the Note Balance as of such Payment Date, plus (y) accrued but unpaid interest on each
class of Notes at the related Interest Rate through the related Interest Period, plus (z) all amounts due to the Servicer in respect of its servicing compensation, any unreimbursed Advances, and any amounts owed to the Indenture Trustee, the
Owner Trustee, any Backup Servicer, and the Administrator, all of which amounts shall be deposited by the Servicer into the Collection Account on the Redemption Date; or 

  
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 (ii) the sum of the amounts in the Reserve Account and the Available Funds, after
the payments under clauses first through seventh and tenth of Section 5.04(a), are sufficient to pay in full the aggregate Note Balance and all accrued and unpaid fees and other expenses due to the Owner Trustee, the Indenture Trustee, the
Backup Servicer, if any, and the Administrator under the Basic Documents; on such Payment Date, the Indenture Trustee, upon written direction from the Servicer, shall transfer all amounts on deposit in the Reserve Account to the Collection Account
and the Notes shall be redeemed in whole, but not in part. 
 If the Servicer exercises the Optional Purchase, the Notes shall be redeemed in whole but not
in part on the related Payment Date for the Redemption Price. The obligations of the Servicer under this Agreement, except pursuant to Article VII, shall terminate upon the purchase of the Receivables by the Servicer under this Section 9.01(a).

 (b) Following the satisfaction and discharge of the Indenture and where principal of and interest on the Notes have been Paid In Full,
the Owner Trustee will succeed to the rights of the Indenture Trustee pursuant to this Agreement. Notwithstanding the satisfaction and discharge of the Indenture and the Paid In Full of the Notes, the Servicer shall continue to perform its
obligations under this Agreement until the earlier of (a) exercise by the Servicer of its Optional Purchase right under Section 9.01(a) of this Agreement, or (b) repayment in full or liquidation of the last of the Receivables. 

Section 9.02 Termination. Notwithstanding anything in this Agreement to the contrary, this Agreement shall terminate upon the
earliest to occur of (i) the maturity or liquidation of the latest maturing Receivable and the disposition of any amounts received thereon in accordance with Section 5.04, (ii) the payment to the Holders of the Notes and the
Certificates of all amounts required to be paid to them under the Basic Documents and (iii) the exercise by the Servicer of its rights under Section 9.01(a), the deposit into the Collection Account by the Servicer of the amount required to
be deposited therein in accordance with Section 9.01(a) and the application of such amounts in accordance with Section 5.04. 

ARTICLE X 
 MISCELLANEOUS 

Section 10.01 Amendment. 

(a) It shall be a condition to the execution and delivery of any amendment to be entered into under this Section 10.01 that the Rating
Agency Condition be satisfied with respect to such amendment. In no event may this Agreement be amended in any way that would (i) materially and adversely affect the Owner Trustee’s or the Indenture Trustee’s, as applicable, own
rights, privileges, indemnities, duties or obligations under this Agreement, the other Basic Documents or otherwise without the prior written consent of such Person; or (ii) significantly change the permitted activities or powers of the Issuer
even if such amendment would not have an adverse effect on the Holders of the Notes, without the consent of the Holders of at least a majority of the Note Balance of the Outstanding Notes of the Controlling Class. 

  
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 (b) This Agreement may be amended from time to time by the parties hereto with the consent of
Noteholders holding a majority of the Note Balance of the Outstanding Notes of the Controlling Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any
manner the rights of the Noteholders; provided, however, that this Agreement may be amended without the consent of the Noteholders to cure any ambiguity, to correct or supplement any provision hereof that may be defective or
inconsistent with any other provision of this Agreement, to add or supplement any credit enhancement arrangement or to add any covenants, restrictions or obligations of the parties to this Agreement, or to make other changes that, pursuant to an
Opinion of Counsel, do not have a material and adverse effect on the interests of the Noteholders nor increase or reduce in any manner the amount of, or accelerate or delay the timing of collections on the Receivables or payments that are to be made
hereunder for the benefit of the Noteholders. 
 (c) Promptly after the execution of any amendment or consent, the Administrator shall
furnish written notification of the substance of such amendment or consent to each Noteholder, the Indenture Trustee and each Rating Agency. 

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

(e) No amendment may increase or reduce in any manner the amount of, or accelerate or delay the timing of, collections on payments on the
Receivables or payments that are required to be made for the benefit of the Noteholders without the consent of each Noteholder. 

Section 10.02 Protection of Title to Trust. 

(a) CRB, as initial Servicer, shall execute and file such financing statements and cause to be executed and filed such continuation
statements, or take such other actions all in such a manner and in such places as may be required by Applicable Law or as shall be necessary to fully preserve, maintain and protect the interest of the Issuer and the Indenture Trustee in the
Collateral and the proceeds thereof. The Issuer hereby authorizes the filing of financing statements describing as the collateral covered thereby “all assets of the debtor, including all personal property of the debtor” or words to that
effect, and any limitations on such collateral description, notwithstanding that such collateral description may be broader in scope than the Conveyed Assets described in this Agreement. All financing statements filed or to be filed against in
connection with this Agreement describing the Collateral shall contain a statement to the following effect: “A purchase of, or grant of a security interest in, any of the collateral covered by this financing statement will violate the rights of
the secured party.” The Servicer shall deliver or cause to be delivered to the Owner Trustee and the Indenture Trustee file-stamped copies of, or filing receipts for, any document filed as provided above as soon as available following such
filing. 

  
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 (b) Neither the Depositor, Seller, nor the Servicer shall change its name, identity or limited
liability company or corporate structure, as applicable, in any manner that would, could or might make any financing statement or continuation statement filed in accordance with paragraph (a) above seriously misleading under Section 9-506
or 9-507 of the UCC, unless it shall have given the Owner Trustee and the Indenture Trustee at least forty-five (45) days’ prior written notice thereof and shall have promptly filed appropriate amendments to all previously filed financing
statements or continuation statements. 
 (c) Each of the Depositor, the Issuer and CRB shall give the Owner Trustee and the Indenture
Trustee at least thirty (30) Business Days’ prior written notice 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, and shall promptly file any such amendment or new financing statement. The Servicer shall at all times maintain each office from which it shall service
Receivables, and its principal executive office, within the United States (other than the State of Louisiana). 
 (d) The Servicer shall
maintain accounts and records as to each Receivable accurately and in sufficient detail to permit (i) the reader thereof to know at any time the status of each such Receivable, including payments and recoveries made and payments owing (and the
nature of each) and (ii) reconciliation between payments or recoveries on or with respect to each such Receivable and the amounts from time to time deposited in the Collection Account in respect of each such Receivable. 

(e) Each of the Servicer and the Depositor shall maintain its computer systems so that, from and after the time of sale of the Receivables
under this Agreement, its master computer records (including any backup archives) that refer to a Receivable shall be coded to reflect that such Receivable is part of the portfolio of Receivables that is the subject of this Agreement and is held by
the Indenture Trustee for the Issuer. Indication of such inclusion of a Receivable in the portfolio shall be deleted from or modified on its computer systems when, and only when, the related Receivable shall have been paid in full or repurchased or
reallocated, as the case may be. 
 (f) If at any time the Depositor or CRB shall propose to sell, grant a security interest in or otherwise
transfer any interest in any motor vehicle retail installment sale contract or installment loan to any prospective purchaser, lender or other transferee, and provides such prospective purchaser, lender or other transferee, if any, any computer
tapes, records or printouts (including any restored from backup archives) that refer in any manner whatsoever to any Receivable, such computer tapes, records or printouts (including any restored from backup archives) shall indicate clearly that such
Receivable has been sold and is owned by the Issuer and has been pledged to the Indenture Trustee. 
 (g) The Servicer shall permit the
Indenture Trustee, the Owner Trustee and their agents and accountants upon reasonable notice and in a reasonable manner at any time during normal business hours, to inspect, audit and make copies of and abstracts from the Servicer’s records
regarding any Receivable. 

  
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 (h) Upon request, the Servicer shall furnish to the Owner Trustee or the Indenture Trustee,
within five (5) Business Days, a list of all Receivables (by Contract number and name of Obligor) then held as part of the Issuer, together with a reconciliation of such list to the Schedule of Receivables furnished prior to such request
indicating removal of Conveyed Assets from the Trust. 
 Section 10.03 Notices. All demands, notices, communications and
instructions upon or to the Depositor, the Servicer, the Issuer, the Owner Trustee, the Indenture Trustee or any Rating Agency under this Agreement shall be in writing, personally delivered, faxed and followed by first class mail, or mailed by
certified mail, return receipt requested, and shall be deemed to have been duly given upon receipt: 
 (a) in the case of the Depositor, to:

 California Republic Funding, LLC 

18400 Von Karman, Suite 1100 

Irvine, California 92612 

Attention: General Counsel 

Facsimile No. (949) 270-9799 

with a copy to 
 California
Republic Bank 
 18400 Von Karman, Suite 1100 

Irvine, California 92612 

Attention: General Counsel 

Facsimile No. (949) 270-9799 

(b) in the case of the Servicer, the Administrator and Custodian, to: 

California Republic Bank 
 18400
Von Karman, Suite 1100 
 Irvine, California 92612 

Attention: General Counsel 

Facsimile No. (614) 480-5404; 

(c) in the case of Indenture Trustee, to the applicable Corporate Trust Office; 

(d) in the case of the Issuer or the Owner Trustee, to: 

Wilmington Trust, National Association 

Rodney Square North 
 1100 North
Market Street 
 Wilmington, Delaware 19890 

Attention: Corporate Trust Administration 

Facsimile No. (302) 651-8882; 

  
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 (e) in the case of any Backup Servicer, to the address identified in the related joinder hereto
executed by such Backup Servicer; 
 (f) in the case of DBRS, to: 

DBRS, Inc. 
 140 Broadway 

New York, New York 10005 
 Fax
number: (212) 806-3201 
 abs_surveillance@dbrs.com; and 

(f) in the case of Standard & Poor’s, to: 

Standard & Poor’s Ratings Services 

55 Water Street 
 New York, New
York 10041 
 Attention: Asset Backed Surveillance Department 

or, as to each of the foregoing, at such other address as shall be designated by written notice to the other parties. 

Section 10.04 Assignment by the Depositor or the Servicer. Notwithstanding anything to the contrary contained herein, except as
provided in Section 7.04 herein and as provided in the provisions of this Agreement concerning the resignation of the Servicer, this Agreement may not be assigned by the Depositor or the Servicer without the prior written consent of the
Indenture Trustee, the Owner Trustee and Holders of Notes evidencing at least 66 2/3% of the Note Balance of the Outstanding Notes of the Controlling Class. 

Section 10.05 Limitations on Rights of Others. The provisions of this Agreement are solely for the benefit of the Seller, the
Servicer, the Depositor, the Issuer, the Owner Trustee, the Indenture Trustee and the Noteholders and their successor and assigns, 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 Collateral or under or in respect of this Agreement or any covenants, conditions or provisions contained herein. 

Section 10.06 Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. 
 Section 10.07 Counterparts. This Agreement may be executed by the
parties hereto in any number of counterparts including by facsimile or other electronic transmission each of which when so executed and delivered shall be an original, but all of which shall together constitute but one and the same instrument. 

  
 43 

 Section 10.08 Headings and Cross-References. The various headings in this Agreement
are included for convenience only and shall not affect the meaning or interpretation of any provision of this Agreement. References in this Agreement to Section names or numbers are to such Sections of this Agreement unless stated otherwise.

 Section 10.09 Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,
WITHOUT GIVING EFFECT TO THE CHOICE OF LAW PRINCIPLES THEREOF (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK), AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES
HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 Section 10.10 Submission to Jurisdiction. Each of the
parties hereto hereby irrevocably and unconditionally: 
 (a) submits for itself and its property in any legal action relating to this
Agreement or any documents executed and delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts of the State of New York located in the Borough
of Manhattan, the courts of the United States of America for the Southern District of New York and appellate courts from any thereof; 
 (b)
consents that any such action may be brought in such courts and waives any objection that it may now or hereafter have to the venue of such action in any such court or that such action was brought in an inconvenient court and agrees not to plead or
claim the same; and 
 (c) waives, to the fullest extent permitted by Applicable Law, any and all right to trial by jury in any legal
proceeding arising out of or relating to this Agreement or the transactions contemplated hereby. 
 Section 10.11 No Partnership or
Joint Venture. Nothing herein contained shall constitute a partnership between or joint venture by the parties hereto or constitute either party the agent of the other. No party shall hold itself out contrary to the terms of this Section nor
become liable by any representation, act or omission of the other contrary to the provisions hereof. This Agreement is not for the benefit of any third party and shall not be deemed to give any right or remedy to any such party whether referred to
herein or not. 
 Section 10.12 Confidential Information. The Issuer agrees that it will neither use nor disclose to any Person
names and addresses of the Obligors or any other personally identifiable information of an Obligor, except in connection with the enforcement of the Issuer’s rights hereunder, under the Receivables, under the Receivables Purchase Agreement, or
any other Basic Document, or as required by any of the foregoing or by Applicable Law. 
 Section 10.13 Assignment by the
Issuer. The Seller and the Depositor each hereby acknowledges, agrees and consents to any transfer (including any assignment, mortgage, 

  
 44 

 
pledge and grant of a security interest by the Issuer) to the Indenture Trustee and the Noteholders in accordance with the terms of the Indenture for the benefit of the Noteholders of all right,
title and interest of the Issuer in, to and under the Collateral or the assignment of any or all of the Issuer’s rights and obligations hereunder and the other Basic Documents to the Indenture Trustee and hereby agree that the Indenture Trustee
may enforce the rights of the Issuer as if it were a party hereto. 
 Section 10.14 Nonpetition Covenants. Notwithstanding any
prior termination of this Agreement, the parties hereto shall not, prior to the date that is one year and one day after the Notes have been Paid In Full, acquiesce, petition or otherwise invoke or cause the Issuer, the Seller, or the Depositor to
invoke the process of any court or government authority for the purpose of commencing or sustaining an involuntary case against the Issuer, the Seller, or the Depositor under any federal or State bankruptcy, insolvency or similar law, appointing a
receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuer, the Seller, or the Depositor or any substantial part of their respective property or ordering the winding up or liquidation of the affairs of
the Issuer, or the Seller, or the Depositor. 
 Section 10.15 Limitation of Liability of Owner Trustee and Indenture Trustee.

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

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

(c) The parties hereto acknowledge that in accordance with Section 326 of the USA PATRIOT Act Deutsche Bank Trust Company Americas and
CRB, like all financial institutions and in order to help fight the funding of terrorism and money laundering, are required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or
opens an account. The parties to this Agreement agree that they will provide Deutsche Bank Trust Company Americas and CRB, as the case may be, with such information as either may request in order for Deutsche Bank Trust Company Americas and CRB to
satisfy the requirements of the USA PATRIOT Act. 

  
 45 

 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. 
  

			
	CALIFORNIA REPUBLIC FUNDING, LLC
		
	By:		     /s/ John DeCero

			    Name: John DeCero
			    Title:   President
	
	CALIFORNIA REPUBLIC BANK
		
	By:		     /s/ Jon Wilcox

			    Name: Jon Wilcox
			    Title:   CEO

 [Signature Page to the Sale and Servicing Agreement] 

 
			
	 DEUTSCHE BANK TRUST COMPANY

AMERICAS,

	 not in its individual capacity,
 but
solely as Indenture Trustee

		
	By:		     /s/     Jennifer Freda

			    Name:     Jennifer Freda
			    Title:       Assistant Vice President
		
	By:		     /s/ Michelle H. Y. Voon

			    Name:     Michelle H. Y. Voon
			    Title:       Vice President

 [Signature Page to the Sale and Servicing Agreement] 

 
					
	 CALIFORNIA REPUBLIC AUTO

RECEIVABLES TRUST 2015-2

		
	By:		WILMINGTON TRUST, NATIONAL ASSOCIATION,
			 not in its individual capacity,
 but
solely as Owner Trustee

			
			By:		     /s/ Dorri Costello

					Name:   Dorri Costello
					Title:     Vice President

 [Signature Page to the Sale and Servicing Agreement] 

 EXHIBIT A 

LOCATION OF RECEIVABLE FILES 
 California
Republic Bank 
 18400 Von Karman, Suite 1100 
 Irvine,
California 92612 
 Iron Mountain 
 1025 -1035 North Highland
Ave 
 Los Angeles, California 90038 
 Iron Mountain 

1340 East 6th St 
 Los Angeles, California 90021 

Iron Mountain 
 890 Pilot Rd 

Las Vegas, Nevada 89119 
 Iron Mountain 

4105 North Lamb Blvd 
 Las Vegas, Nevada 89110 

Iron Mountain 
 3051 N. Marion Drive, Ste 101 

Las Vegas, Nevada 89120 
 Iron Mountain 

4105 North Lamb Blvd 
 Las Vegas, Nevada 89110 

  

					
	(Exhibit A)		A-1		

 EXHIBIT B-1 

FORM OF SERVICER’S MONTHLY CERTIFICATE 

PURSUANT TO SECTION 4.09 OF THE SALE AND SERVICING AGREEMENT 

[Determination Date] 
 This
Servicer’s Monthly Certificate is delivered in connection with the sale by California Republic Bank, a California corporation licensed and authorized to transact a banking business (the “Company”) to California Republic Auto
Receivables Trust 2015-2 (the “Issuer”) of the Depositor Conveyed Assets pursuant to a sale and servicing agreement dated as of June 1, 2015 (the “Sale and Servicing Agreement”) by and among the Issuer, the
Company, CRB, and Deutsche Bank Trust Company Americas as indenture trustee (the “Indenture Trustee”). All capitalized terms used but not defined herein shall have the meaning assigned thereto in the Sale and Servicing Agreement.

 The undersigned, a Responsible Officer of the Company, hereby certifies that: 

(i) No Event of Default, Servicer Termination Event has occurred and is continuing; and 

(ii) The information contained in Annex A, attached hereto, is complete and accurate and among other things, contains all
information necessary to make the payments to be made on this Payment Date pursuant to Section 5.04 of the Sale and Servicing Agreement for this Collection Period. 

IN WITNESS WHEREOF, the undersigned, in my capacity as a Responsible Officer of the Company as specified below, has caused this certificate to
be executed as of the date first above written. 
  

	
	  

	Name:
	Title:

  

					
	(Exhibit B-1)		B-1-1		

 Annex A 

[EXCEL Spread Sheet Attached] 

  

					
	(Exhibit B-1)		B-1-2		

 EXHIBIT B-2 

FORM OF SERVICER’S ANNUAL CERTIFICATION 

PURSUANT TO SECTION 4.10 OF THE SALE AND SERVICING AGREEMENT 

[DATE] 
 This Servicer’s
Annual Certification is delivered pursuant to a sale and servicing agreement dated as of June 1, 2015 (the “Sale and Servicing Agreement”) by and among, California Republic Auto Receivables Trust 2015-2, California Republic
Funding, LLC, California Republic Bank, as Servicer (in such capacity, the “Servicer”), and Deutsche Bank Trust Company Americas, as indenture trustee (the “Indenture Trustee”). All capitalized terms used but not
defined herein shall have the meaning assigned thereto in Appendix A to the Sale and Servicing Agreement. 
 The undersigned, a Responsible
Officer of the Servicer, hereby certifies that: 
 1. A review of the activities of the Servicer and of the performance of their respective
obligations under the Sale and Servicing Agreement during the period from [                    ], 20[    ] to and including
December 31, 20[    ] (the “Review Period”) was conducted under my supervision. 
 2. Based on my
knowledge and such review, except as otherwise disclosed pursuant to paragraph 3 below, the Servicer has fulfilled its obligations under the Sale and Servicing Agreement during the applicable Review Period and there is no significant deficiency
known by me with respect to the applicable Review Period which has not been disclosed herein. 
 3. Based on such review, to my knowledge,
the following is a description of each significant deficiency during the Review Period in the performance of the Servicer’s obligations under the provisions of the Sale and Servicing Agreement, which sets forth in detail (i) the nature and
status of each such deficiency and (ii) the action taken by the Servicer, if any, to remedy each such deficiency: [List Out] 

[SIGNATURE APPEARS ON NEXT PAGE] 

  

					
	(Exhibit B-2)		B-2-1		

 IN WITNESS WHEREOF, the undersigned, in my capacity as specified below, has caused this certificate to be
executed as of the date first above written. 
  

			
	Dated:                                     
                                         
                   		  

			 Name:
 Title:

  

					
	(Exhibit B-2)		B-2-2		

 EXHIBIT B-3 

FORM OF SERVICER’S SARBANES-OXLEY ACT CERTIFICATION 

Re:        California Republic Bank Auto Receivables Trust 2015-2 

I, [            ], certify that: 

1. I have reviewed this report on Form 10-K and all reports on Form 10-D required to be filed in respect of the period covered by this report
on Form 10-K of California Republic Bank Auto Receivables Trust 2015-2 (the “Exchange Act periodic reports”); 
 2. Based on my
knowledge, the Exchange Act periodic reports, taken as a whole, do not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report; 
 3. Based on my knowledge, all of the distribution, servicing
and other information required to be provided under Form 10-D for the period covered by this report is included in the Exchange Act periodic reports; 

4. I am responsible for reviewing the activities performed by the servicers and based on my knowledge and the compliance reviews conducted in
preparing the servicer compliance statements required in this report under Item 1123 of Regulation AB, and except as disclosed in the Exchange Act periodic reports, the servicers have fulfilled their obligations under the servicing agreements
in all material respects; and 
 5. All of the reports on assessment of compliance with servicing criteria for asset-backed securities and
their related attestation reports on assessment of compliance with servicing criteria for asset-backed securities required to be included in this report in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have
been included as an exhibit to this report, except as otherwise disclosed in this report. Any material instances of noncompliance described in such reports have been disclosed in this report on Form 10-K. 

In giving the certifications above, I have reasonably relied on information provided to me by the following unaffiliated parties:
[            ] 
 Date:
[                    ] 
  

			
	By:		  

	Name:		  

	Title:		  

  

					
	(Exhibit B-3)		B-3-1		

 SCHEDULE A 

SCHEDULE OF RECEIVABLES 
 [On file
with the Servicer and the Backup Servicer] 

  

					
	(Schedule A)		SA-1		

 SCHEDULE B 

Part I. Form 10-D Disclosure Items 
  

			
	 FORM 10-D DISCLOSURE ITEMS

	 Item on Form 10-D
	  	 Responsible Party

	Item 1: Distribution and Pool Performance Information	  	
	Information included in the Monthly Investor Report	  	 Servicer

Administrator

	Any information required by 1121 which is NOT included on the Monthly Investor Report	  	Depositor
	 Item 2: Legal Proceedings

•       Any legal Proceeding pending against the following entities or their
respective property, that is material to noteholders, including any Proceeding known to be contemplated by governmental authorities:
	  	
	 •       Issuing Entity (Trust Fund)
	  	Depositor
	 •       Sponsor (Seller)
	  	Seller (if a party to the Sales and Servicing Agreement) or Depositor
	 •       Depositor
	  	Depositor
	 •       Indenture Trustee
	  	Indenture Trustee
	 •       Administrator
	  	Administrator
	 •       Servicer
	  	Servicer
	 •       Owner Trustee
	  	Owner Trustee
	 •       1110(b) Originator
	  	Depositor
	 •       Any 1108(a)(2) Servicer (other than the Servicer or Administrator)
	  	Depositor
	 •       Any other party contemplated by 1100(d)(1)
	  	Depositor
	 Item 3: Sale of Securities and Use of Proceeds

Information from Item 2(a) of Part II of Form 10-Q

With respect to any sale of securities by the sponsor, depositor or issuing entity, that are backed by the same asset pool or are otherwise issued by the
issuing entity, whether or not registered, provide the sales and use of proceeds information in Item 701 of Regulation S-K. Pricing information can be omitted if securities were not registered.
	  	Depositor
	 Item 4: Defaults Upon Senior Securities

Information from Item 3 of Part II of Form 10-Q

Report the occurrence of any Event of Default (after expiration of any grace period and provision of any required notice)
	  	Administrator
	 Item 5: Submission of Matters to a Vote of Security Holders

Information from Item 4 of Part II of Form 10-Q
	  	 Administrator

Indenture Trustee

  

					
	(Schedule B)	  	SB-1	  	

			
	 FORM 10-D DISCLOSURE ITEMS (continued)

	 Item on Form 10-D
	  	 Responsible Party

	 Item 6: Significant Obligors of Pool Assets

Item 1112(b) – Significant Obligor Financial Information*
	  	Depositor
	*This information need only be reported on the Form 10-D for the distribution period in which updated information is required pursuant to the Item.	  	
	 Item 7: Significant Enhancement Provider Information

Item 1114(b)(2) – Credit Enhancement Provider Financial Information*
	  	
	 •       Determining applicable disclosure threshold
	  	Depositor
	 •       Requesting required financial information (including any required accountants’
consent to the use thereof) or effecting incorporation by reference
	  	Depositor
	Item 1115(b) – Derivative Counterparty Financial Information*	  	
	 •       Determining current maximum probable exposure
	  	Depositor
	 •       Determining current significance percentage
	  	Depositor
	 •       Requesting required financial information (including any required accountants’
consent to the use thereof) or effecting incorporation by reference
	  	Depositor
	*This information need only be reported on the Form 10-D for the distribution period in which updated information is required pursuant to the Items.	  	
	 Item 8: Other Information

Disclose any information required to be reported on Form 8-K during the period covered by the Form 10-D but not reported
	  	Any party responsible for the applicable Form 8-K Disclosure item
	Item 9: Exhibits	  	
	Monthly Statement to Noteholders	  	Administrator
	Exhibits required by Item 601 of Regulation S-K, such as material agreements	  	Depositor

  

					
	Schedule B	  	SB-2	  	

 Part II. Form 8-K Reportable Events 
  

			
	 FORM 8-K REPORTABLE EVENTS

	 Item on Form 8-K
	  	 Responsible Party

	 Item 1.01- Entry into a Material Definitive Agreement

Disclosure is required regarding entry into or amendment of any definitive agreement that is material to the securitization, even if depositor is not a
party.
 Examples: servicing agreement, custodial agreement.

Note: disclosure not required as to definitive agreements that are fully disclosed in the prospectus.
	  	All parties as to themselves
	 Item 1.02- Termination of a Material Definitive Agreement

Disclosure is required regarding termination of any definitive agreement that is material to the securitization (other than expiration in accordance with its
terms), even if depositor is not a party.
 Examples: servicing agreement, custodial agreement.
	  	All parties as to themselves
	 Item 1.03- Bankruptcy or Receivership

Disclosure is required regarding the bankruptcy or receivership, with respect to any of the following:
	  	Depositor
	 •       Sponsor (Seller)
	  	Depositor/Sponsor (Seller)
	 •       Depositor
	  	Depositor
	 •       Servicer
	  	Servicer
	 •       Affiliated Servicer
	  	Servicer
	 •       Other Servicer servicing 20% or more of the pool assets at the time of the
report
	  	Servicer
	 •       Other material servicers
	  	Servicer
	 •       Indenture Trustee
	  	Indenture Trustee
	 •       Administrator
	  	Administrator
	 •       Significant Obligor
	  	Depositor
	 •       Credit Enhancer (10% or more)
	  	Depositor
	 •       Derivative Counterparty
	  	Depositor
	 •       Owner Trustee
	  	Owner Trustee
	 Item 2.04- Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement
 Includes an early amortization, performance trigger or other event, including event of default, that would materially alter the payment
priority/distribution of cash flows/amortization schedule.
 Disclosure will be made of events other than waterfall triggers which are disclosed in the
monthly statements to the noteholders.
	  	 Depositor
 Servicer

Administrator

  

					
	Schedule B	  	SB-3	  	

			
	 FORM 8-K REPORTABLE EVENTS (continued)

	 Item on Form 8-K
	  	 Responsible Party

	 Item 3.03- Material Modification to Rights of Security Holders

Disclosure is required of any material modification to documents defining the rights of Noteholders, including the Sale and Servicing Agreement.
	  	 Administrator
 Indenture Trustee

Depositor

	 Item 5.03- Amendments of Articles of Incorporation or Bylaws; Change of Fiscal Year

Disclosure is required of any amendment “to the governing documents of the issuing entity”.
	  	Depositor
	Item 6.01- ABS Informational and Computational Material	  	Depositor
	 Item 6.02- Change of Servicer or Administrator

Requires disclosure of any removal, replacement, substitution or addition of any Servicer, affiliated servicer, and other servicer servicing 10% or more of
pool assets at time of report, other material servicers or Indenture Trustee.
	  	 A change of both – Depositor
 A change of
Servicer or Administrator—Servicer/Administrator/Depositor/

	Reg AB disclosure about any new servicer or Servicer is also required.	  	Servicer/Depositor
	Reg AB disclosure about any new Indenture Trustee is also required.	  	New Indenture Trustee
	 Item 6.03- Change in Credit Enhancement or External Support

Covers termination of any enhancement in manner other than by its terms, the addition of an enhancement, or a material change in the enhancement provided.
Applies to external credit enhancements as well as derivatives.
	  	N/A
	Reg AB disclosure about any new enhancement provider is also required.	  	Depositor
	Item 6.04- Failure to Make a Required Distribution	  	 Servicer
 Indenture Trustee

	 Item 6.05- Securities Act Updating Disclosure

If any material pool characteristic differs by 5% or more at the time of issuance of the securities from the description in the final prospectus, provide
updated Reg AB disclosure about the actual asset pool.
	  	Depositor
	If there are any new servicers or originators required to be disclosed under Regulation AB as a result of the foregoing, provide the information called for in Items 1108 and 1110 respectively.	  	Depositor
	Item 7.01- Reg FD Disclosure	  	Depositor
	 Item 8.01- Other Events
 Any event,
with respect to which information is not otherwise called for in Form 8-K, that the registrant deems of importance to noteholders.
	  	Depositor
	Item 9.01- Financial Statements and Exhibits	  	Responsible party, as applicable, for reporting/disclosing the financial statement or exhibit

  

					
	Schedule B	  	SB-4	  	

 Part III: Form 10-K Disclosure Items 
  

			
	 FORM 10-K DISCLOSURE ITEMS

	 Item on Form 10-K
	  	 Responsible Party

	Item 1B: Unresolved Staff Comments	  	Depositor
	Item 9B: Other Information	  	Any party responsible for disclosure items on Form 8-K
	Item 15: Exhibits, Financial Statement Schedules	  	Depositor
	 Additional Item:
 Disclosure per Item 1117
of Reg AB
	  	(i) All parties to the Sale and Servicing Agreement (as to themselves), (ii) the Depositor as to the issuing entity, (iii) the Depositor as to the sponsor, any 1106(b) originator, any 1100(d)(1) party
	 Additional Item:
 Disclosure per Item 1119
of Reg AB
	  	(i) All parties to the Sale and Servicing Agreement (as to themselves), (ii) the Depositor as to he sponsor, originator, significant obligor, enhancement or support provider
	 Additional Item:
 Disclosure per
Item 1112(b) of Reg AB
	  	Depositor/ Servicer
	 Additional Item:
 Disclosure per Items 1114(b)
and 1115(b) of Reg AB
	  	Depositor

  

					
	Schedule B	  	SB-5	  	

 Part IV: Servicing Criteria 
  

					
	 Reg AB Reference
	  	 Servicing Criteria
	  	 Responsible

Party

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

Backup Servicer

	 1122(d)(1)(ii)
	  	If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities.	  	Servicer
	 1122(d)(1)(iii)
	  	Any requirements in the transaction agreements to maintain a back-up servicer for the pool assets are maintained.	  	Servicer
	 1122(d)(1)(iv)
	  	A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of
the transaction agreements.	  	
		  	Cash Collection and Administration	  	
	 1122(d)(2)(i)
	  	Payments on pool assets are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction
agreements.	  	Servicer
	 1122(d)(2)(ii)
	  	Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.	  	Servicer
	 1122(d)(2)(iii)
	  	Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements.	  	Servicer
	 1122(d)(2)(iv)
	  	The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the
transaction agreements.	  	 Servicer

Indenture Trustee

  

					
	Schedule B	  	SB-6	  	

					
	 Reg AB Reference
	  	 Servicing Criteria
	  	 Responsible

Party

	 1122(d)(2)(v)
	  	Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a
foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act.	  	Indenture Trustee
	 1122(d)(2)(vi)
	  	Unissued checks are safeguarded so as to prevent unauthorized access.	  	
	 1122(d)(2)(vii)
	  	Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B)
prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain
explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements.	  	Servicer
		  	Investor Remittances and Reporting	  	
	 1122(d)(3)(i)
	  	Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance
with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and
regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of Pool Assets serviced by the Servicer.	  	Servicer
	 1122(d)(3)(ii)
	  	Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements.	  	Servicer
	 1122(d)(3)(iii)
	  	Disbursements made to an investor are posted within two business days to the Servicer’s investor records, or such other number of days specified in the transaction agreements.	  	 Servicer

Indenture Trustee

	 1122(d)(3)(iv)
	  	Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.	  	Servicer

  

					
	Schedule B	  	SB-7	  	

					
	 Reg AB Reference
	  	 Servicing Criteria
	  	 Responsible

Party

		  	Pool Asset Administration	  	
	 1122(d)(4)(i)
	  	Collateral or security on pool assets is maintained as required by the transaction agreements or related pool asset documents.	  	Servicer
	 1122(d)(4)(ii)
	  	Pool assets and related documents are safeguarded as required by the transaction agreements	  	Servicer
	 1122(d)(4)(iii)
	  	Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements.	  	Servicer
	 1122(d)(4)(iv)
	  	Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the Servicer’s obligor records maintained no more than two business days after receipt and
identification, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents.	  	Servicer
	 1122(d)(4)(v)
	  	The Servicer’s records regarding the pool assets agree with the Servicer’s records with respect to an obligor’s unpaid principal balance.	  	Servicer
	 1122(d)(4)(vi)
	  	Changes with respect to the terms or status of an obligor’s pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and
related pool asset documents.	  	Servicer
	 1122(d)(4)(vii)
	  	Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes
or other requirements established by the transaction agreements.	  	Servicer
	 1122(d)(4)(viii)
	  	Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period
specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g.,
illness or unemployment).	  	Servicer
	 1122(d)(4)(ix)
	  	Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on the related pool asset documents.	  	N/A

  

					
	Schedule B	  	SB-8	  	

					
	 Reg AB Reference
	  	 Servicing Criteria
	  	 Responsible

Party

	 1122(d)(4)(x)
	  	Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s pool asset documents, on at least an annual basis, or such other period specified in
the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of
the related pool assets, or such other number of days specified in the transaction agreements.	  	N/A
	 1122(d)(4)(xi)
	  	Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such
support has been received by the Servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.	  	N/A
	 1122(d)(4)(xii)
	  	Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the Servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or
omission.	  	N/A
	 1122(d)(4)(xiii)
	  	Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the Servicer, or such other number of days specified in the transaction agreements.	  	N/A
	 1122(d)(4)(xiv)
	  	Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.	  	Servicer
	 1122(d)(4)(xv)
	  	Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements.	  	N/A

  

					
	Schedule B	  	SB-9	  	

 ANNEX A 

BACKUP SERVICER DUTIES 
 Duties of Backup
Servicer 
 CALIFORNIA REPUBLIC AUTO RECEIVABLES TRUST 2015-2 

One-time, Upfront Duties 
  

	•	 	The Backup Servicer will request an initial extract file specific to CRART 2015-2 from Servicer. The Backup Servicer’s extract file layout will be provided to Servicer; 

 

	•	 	Information from the initial extract file received from Servicer will be mapped to the Backup Servicer ‘s system within sixty (60) days of receipt of the complete file; 

 

	•	 	The Backup Servicer will compare information from the initial extract file to initial monthly certificate and further determine that the monthly servicer’s report is complete on its face. The Backup Servicer will
a) verify the aggregate outstanding balance of Receivables at the beginning of the related collection period; b) verify the number and principle balance of delinquent and defaulted Receivables at the close of the related collection period; and c)
verify the aggregate outstanding balance of Receivables at the close of the related collection period. This verification will compare the information on the monthly servicer’s report to the information produced on The Backup Servicer’s
system from the monthly extract file received from Servicer. 

 Monthly Duties 

 

	•	 	The Backup Servicer will store the monthly extract file received from Servicer; 

  

	•	 	The Backup Servicer will load the information from the monthly extract file to its system within seven (7) business days of receipt of the complete file; 

 

	•	 	The Backup Servicer will review the monthly servicer’s report and determine that the monthly servicer’s report is complete on its face. The Backup Servicer will: a) verify the aggregate outstanding balance of
Receivables at the beginning of the related collection period; b) verify the number and principle balance of delinquent and defaulted Receivables at the close of the related collection period; and c) verify the aggregate outstanding balance of
Receivables at the close of the related collection period; 

  

	•	 	In the event of any discrepancy on the monthly servicer’s report, the Backup Servicer will promptly notify Servicer of any discrepancies; 

 

	•	 	Warm backup servicing duties assume a readiness state that would allow the Backup Servicer to convert and transfer the portfolio as soon as reasonably practical (not immediately) upon the formal request for transfer
notice. 

  

					
	(Annex A)		AX-1		

 EXECUTION 

APPENDIX A 
 USAGE AND DEFINITIONS

 USAGE 
 The following rules
of construction and usage are applicable to this Appendix and to any agreement that incorporates this Appendix and any certificate or other document made or delivered pursuant to any such agreement: 

(a) All terms defined in this Appendix, unless otherwise defined in any agreement that incorporates this Appendix or any certificate or other
document made or delivered pursuant to any such agreement, have the meanings assigned in this Appendix. 
 (b) Accounting terms not defined
in this Appendix or in any such agreement, certificate or other document, and accounting terms partly defined in this Appendix or in any such agreement, certificate or other document, to the extent not defined, have the respective meanings given to
them under generally accepted accounting principles as in effect in the United States on the date of such agreement, certificate or other document. To the extent that the definitions of accounting terms in this Appendix or in any such agreement,
certificate or other document are inconsistent with the meanings of such terms under generally accepted accounting principles in the United States, the definitions contained in this Appendix or in any such agreement, certificate or other document
will control. 
 (c) References to words such as “this Agreement”, “herein”, “hereof” and the like shall refer
to an agreement that incorporates this Appendix as a whole and not to any particular part, Article or Section within such agreement. References in an agreement to “Article”, “Section”, “Exhibit”,
“Schedule”, “subsection” or another subdivision or to an attachment are, unless otherwise specified, to an article, section, exhibit, schedule, subsection or other subdivision of or an attachment to such agreement. The term
“or” means “and/or” unless otherwise specified or the context otherwise requires, and the term “including” means “including without limitation”. 

(d) The definitions contained in this Appendix are equally applicable to both the singular and plural forms of such terms and to the masculine
as well as to the feminine and neuter genders of such terms. 
 (e) Any agreement or statute defined or referred to in this Appendix or in
any agreement that incorporates this Appendix means such agreement or statute as from time to time amended, modified, supplemented or replaced, including (in the case of agreements) by waiver or consent and (in the case of statutes) by succession of
comparable successor statutes and includes (in the case of agreements) references to all attachments thereto and instruments incorporated therein and (in the case of statutes) any rules and regulations promulgated thereunder and any judicial and
administrative interpretations thereof. 

  
 AA-1 

 (f) References to a Person are also to its permitted successors and assigns. 

(g) References to deposits, transfers and payments of any amounts refer to deposits, transfers or payments of such amounts in immediately
available funds; and the term “proceeds” has the meaning ascribed to such term in the UCC. 
 (h) Except where “not less than
zero” or similar language is indicated, amounts determined by reference to a mathematical formula may be positive or negative. 
 (i)
In the computation of a period of time from a specified date to a later specified date, the word “from” means “from and including” and the words “to” and “until” mean “to but excluding”. 

DEFINITIONS 
 “1940
Act” means the Investment Company Act of 1940. 
 “Accrued Class A-1 Note Interest” means, with respect to
any Payment Date, the sum of the Class A-1 Noteholders’ Monthly Accrued Interest for such Payment Date and the Class A-1 Noteholders’ Interest Carryover Shortfall for such Payment Date. 

“Accrued Class A-2 Note Interest” means, with respect to any Payment Date, the sum of the Class A-2
Noteholders’ Monthly Accrued Interest for such Payment Date and the Class A-2 Noteholders’ Interest Carryover Shortfall for such Payment Date. 

“Accrued Class A-3 Note Interest” means, with respect to any Payment Date, the sum of the Class A-3
Noteholders’ Monthly Accrued Interest for such Payment Date and the Class A-3 Noteholders’ Interest Carryover Shortfall for such Payment Date. 

“Accrued Class A-4 Note Interest” means, with respect to any Payment Date, the sum of the Class A-4
Noteholders’ Monthly Accrued Interest for such Payment Date and the Class A-4 Noteholders’ Interest Carryover Shortfall for such Payment Date. 

“Accrued Class B Note Interest” means, with respect to any Payment Date, the sum of the Class B Noteholders’
Monthly Accrued Interest for such Payment Date and the Class B Noteholders’ Interest Carryover Shortfall for such Payment Date. 

“Accrued Class C Note Interest” means, with respect to any Payment Date, the sum of the Class C Noteholders’
Monthly Accrued Interest for such Payment Date and the Class C Noteholders’ Interest Carryover Shortfall for such Payment Date. 

“Act” has the meaning specified in Section 11.03(a) of the Indenture. 

“Administration Agreement” means the Administration Agreement, dated as of June 1, 2015, among the Issuer, CRB, as
Administrator, the Owner Trustee and the Indenture Trustee. 
 “Administrator” means CRB, or any successor Administrator
under the Administration Agreement. 

  
 AA-2 

 “Advance” means any advance that the Servicer makes pursuant to
Section 5.07 of the Sale and Servicing Agreement. 
 “Advance Reimbursement Amount” means any amount received or
deemed to be received by the Servicer in reimbursement of an Advance. 
 “Affiliate” means, with respect to any specified
Person, any other Person controlling or controlled by or under common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means the power to direct the management and
policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Agency Office” means the office of the Issuer maintained pursuant to Section 3.02 of the Indenture. 

“Aggregate Note Amount” means the total of the applicable amounts of principal and interest to be paid on each Class of Notes
pursuant to Section 12.05 of the Indenture. 
 “Amount Financed” means, with respect to a Receivable, the original
principal amount that the Obligor is required to pay under the related Contract, including repayment of amounts advanced toward the purchase price of the Financed Vehicle and any related costs and other amounts financed under the related Contract,
exclusive of any amount advanced during the term of the Contract for the premiums for force-placed physical damage insurance covering the Financed Vehicle, it being understood that the Amount Financed includes amounts allocable to prepaid finance
charges due under the related Contract. 
 “Annual Percentage Rate” or “APR” means, with respect to a
Receivable, the annual contractual rate of interest stated in the related Contract as being payable by the Obligor, it being understood that this is not necessarily the “annual percentage rate” as disclosed in the Contract for such
Receivable pursuant to the federal Truth in Lending Act. 
 “Applicable Law” means all provisions of statutes, rules and
regulations, interpretations and orders of any Governmental Authority applicable to a Person, and all orders and decrees of all courts and arbitrators in proceedings or actions in which the Person in question is a party including applicable federal,
State and local laws and regulations thereunder. 
 “Applicable Payment Date” means the date determined by the Indenture
Trustee pursuant to Section 12.05 of the Indenture. 
 “Authorized Officer” means, with respect to the Issuer, any
officer of the Owner Trustee who is authorized to act for the Owner Trustee in matters relating to the Issuer and who is identified on the list of Authorized Officers delivered by the Owner Trustee to the Indenture Trustee on the Closing Date (as
such list may be modified or supplemented from time to time thereafter) and, so long as the Administration Agreement is in effect, any vice president or more senior officer of the Administrator (or any authorized signatory specifically authorized by
the board of directors of the Administrator) who is authorized to act for the Administrator in matters relating to the Issuer and to be acted upon by the Administrator pursuant to the Administration 

  
 AA-3 

 
Agreement and who is identified on the list of Authorized Officers delivered by the Administrator to the Indenture Trustee on the Closing Date (as such list may be modified or supplemented from
time to time thereafter). 
 “Available Funds” means, for any Payment Date and the related Collection Period, an amount
equal to the sum of the following amounts: (i) all Collections received by the Servicer during or in respect of such Collection Period (less any amounts withdrawn from the Collection Account by the Servicer in order to reimburse itself for
Nonrecoverable Advances), and (ii) the Reserve Account Draw Amount. 
 “Available Funds Shortfall Amount” means, as of
any Payment Date, the amount by which the amounts required to be paid pursuant to clauses first through seventh of Section 5.04(a) of the Sale and Servicing Agreement exceeds the sum of all Collections received by the Servicer during such
Collection Period, without taking into account any Reserve Account Draw Amount (less any amounts withdrawn from the Collection Account by the Servicer in order to reimburse itself for Nonrecoverable Advances). 

“Backup Servicer” means any backup servicer of the Receivables appointed pursuant to Section 7.02 of the Sale and
Servicing Agreement following the occurrence of a Backup Servicer Appointment Event. 
 “Backup Servicer Appointment Date”
means the date that an entity agrees to become Backup Servicer. 
 “Backup Servicer Appointment Event” means that
(i) CRB is the Servicer and (ii) CRB receives written notice of the determination by the FDIC or other appropriate banking regulatory agency, that CRB has ceased to meet the FDIC criteria of a “well capitalized bank”, as finally
determined by the FDIC or other appropriate banking regulatory agency using the method agreed upon by the Federal Financial Institutions Examination Council. 

“Backup Servicing Fee” means the fee payable to the Backup Servicer, if and when appointed pursuant to Section 7.02 of
the Sale and Servicing Agreement, which shall be $4,500 per month or less, plus reasonable expenses. 
 “Basic Documents”
means the Sale and Servicing Agreement, the Trust Agreement, the Indenture, the Notes, the Certificates, the Underwriting Agreement, the Receivables Purchase Agreement, the Administration Agreement and all of the other documents and certificates
delivered in connection with each such document. 
 “Benefit Plan” means (i) an “employee benefit plan” as
defined in Section 3(3) of ERISA, which is subject to Title I of ERISA, (ii) a “plan” as defined in Section 4975 of the Code, which is subject to Section 4975 of the Code or (iii) a governmental, non-U.S. or church
plan which is subject to any federal, state or local law that is similar to Section 406 of ERISA or Section 4975 of the Code. 

“Book-Entry Certificates” means Certificates in which ownership and transfers shall be made through book entries by a
Depository as described in Section 3.09 of the Trust Agreement. 

  
 AA-4 

 “Book-Entry Notes” means Notes in which ownership and transfers shall be made
through book entries by a Depository as described in Section 2.11 of the Indenture. 
 “Business Day” means any day
other than a Saturday, a Sunday or any other day on which national banking institutions or commercial banking institutions in the State of New York or the State of California are authorized or required by law, executive order or governmental decree
to be closed or any day on which the Federal Reserve Bank of San Francisco is closed. 
 “California Military Families Financial
Relief Act” means Sections 800 through 812 of the California Military and Veterans Code. 
 “Certificate” has the
meaning set forth in the Trust Agreement. 
 “Certificateholder” means a Person in whose name a Certificate is registered.

 “Certifying Person” means an individual who signs the Sarbanes-Oxley Act Certification. 

“Certification Parties” means, collectively, the Certifying Person and the entity for which the Certifying Person acts as an
officer, and such entity’s officers, directors and Affiliates. 
 “Class” means a group of Notes whose form is
identical except for variation in denomination, principal amount or owner, and references to “each Class” thus mean each of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the
Class B Notes and the Class C Notes. 
 “Class A Notes” means the Class A-1 Notes, the Class A-2
Notes, the Class A-3 Notes and the Class A-4 Notes. 
 “Class A Note Balance” means, at any time, the sum of
the Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note Balance and the Class A-4 Note Balance at such time. 

“Class A-1 Final Scheduled Payment Date” means the Payment Date occurring on June 15, 2016. 

“Class A-1 Interest Rate” means 0.39000% per annum (computed on a daily basis, based upon the actual days elapsed
in the Interest Period and a 360-day year). 
 “Class A-1 Note Balance” means, at any time, the Initial Class A-1
Note Balance reduced by all payments of principal made prior to such time on the Class A-1 Notes. 
 “Class A-1
Noteholder” means the Person in whose name a Class A-1 Note is registered on the Register. 
 “Class A-1
Noteholders’ Interest Carryover Shortfall” means, with respect to any Payment Date, the excess of the Class A-1 Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class A-1
Noteholders’ Interest Carryover Shortfall on such preceding Payment Date, over the amount in respect of interest that is actually 

  
 AA-5 

 
paid to Noteholders of Class A-1 Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders of Class A-1 Notes on the preceding
Payment Date, to the extent permitted by law, at the Class A-1 Interest Rate for the related Interest Period. 

“Class A-1 Noteholders’ Monthly Accrued Interest” means, with respect to any Payment Date, the aggregate interest
accrued for the related Interest Period on the Class A-1 Notes at the Class A-1 Interest Rate on the Class A-1 Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all
payments of principal to the Class A-1 Noteholders on or prior to such preceding Payment Date. 
 “Class A-1
Notes” means the Class of Notes designated as “Class A-1 Notes”, issued in accordance with the Indenture. 

“Class A-2 Final Scheduled Payment Date” means the Payment Date occurring on February 15, 2018. 

“Class A-2 Interest Rate” means 0.88% per annum (computed on the basis of a 360-day year of twelve 30-day months). 

“Class A-2 Note Balance” means, at any time, the Initial Class A-2 Note Balance reduced by all payments of
principal made prior to such time on the Class A-2 Notes. 
 “Class A-2 Noteholder” means the Person in whose
name a Class A-2 Note is registered on the Register. 
 “Class A-2 Noteholders’ Interest Carryover
Shortfall” means, with respect to any Payment Date, the excess of the Class A-2 Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class A-2 Noteholders’ Interest Carryover Shortfall
on such preceding Payment Date, over the amount in respect of interest that is actually paid to Noteholders of Class A-2 Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders of
Class A-2 Notes on the preceding Payment Date, to the extent permitted by law, at the Class A-2 Interest Rate for the related Interest Period. 

“Class A-2 Noteholders’ Monthly Accrued Interest” means, with respect to any Payment Date, the aggregate interest
accrued for the related Interest Period on the Class A-2 Notes at the Class A-2 Interest Rate on the Class A-2 Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all
payments of principal to the Class A-2 Noteholders on or prior to such preceding Payment Date. 
 “Class A-2
Notes” means the Class of Notes designated as “Class A-2 Notes”, issued in accordance with the Indenture. 

“Class A-3 Final Scheduled Payment Date” means the Payment Date occurring on August 15, 2019. 

“Class A-3 Interest Rate” means 1.31% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  
 AA-6 

 “Class A-3 Note Balance” means, at any time, the Initial Class A-3
Note Balance reduced by all payments of principal made prior to such time on the Class A-3 Notes. 
 “Class A-3
Noteholder” means the Person in whose name a Class A-3 Note is registered on the Register. 
 “Class A-3
Noteholders’ Interest Carryover Shortfall” means, with respect to any Payment Date, the excess of the Class A-3 Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class A-3
Noteholders’ Interest Carryover Shortfall on such preceding Payment Date, over the amount in respect of interest that is actually paid to Noteholders of Class A-3 Notes on such preceding Payment Date, plus interest on the amount of
interest due but not paid to Noteholders of Class A-3 Notes on the preceding Payment Date, to the extent permitted by law, at the Class A-3 Interest Rate for the related Interest Period. 

“Class A-3 Noteholders’ Monthly Accrued Interest” means, with respect to any Payment Date, the aggregate interest
accrued for the related Interest Period on the Class A-3 Notes at the Class A-3 Interest Rate on the Class A-3 Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all
payments of principal to the Class A-3 Noteholders on or prior to such preceding Payment Date. 
 “Class A-3
Notes” means the Class of Notes designated as “Class A-3 Notes”, issued in accordance with the Indenture. 

“Class A-4 Final Scheduled Payment Date” means the Payment Date occurring on January 15, 2021. 

“Class A-4 Interest Rate” means 1.75% per annum (computed on the basis of a 360-day year of twelve 30-day months).

 “Class A-4 Note Balance” means, at any time, the Initial Class A-4 Note Balance reduced by all payments of
principal made prior to such time on the Class A-4 Notes. 
 “Class A-4 Noteholder” means the Person in whose
name a Class A-4 Note is registered on the Register. 
 “Class A-4 Noteholders’ Interest Carryover
Shortfall” means, with respect to any Payment Date, the excess of the Class A-4 Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class A-4 Noteholders’ Interest Carryover Shortfall
on such preceding Payment Date, over the amount in respect of interest that is actually paid to Noteholders of Class A-4 Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders of
Class A-4 Notes on the preceding Payment Date, to the extent permitted by law, at the Class A-4 Interest Rate for the related Interest Period. 

“Class A-4 Noteholders’ Monthly Accrued Interest” means, with respect to any Payment Date, the aggregate interest
accrued for the related Interest Period on the Class A-4 Notes at the Class A-4 Interest Rate on the Class A-4 Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all
payments of principal to the Class A-4 Noteholders on or prior to such preceding Payment Date. 

  
 AA-7 

 “Class A-4 Notes” means the Class of Notes designated as
“Class A-4 Notes”, issued in accordance with the Indenture. 
 “Class B Final Scheduled Payment Date”
means the Payment Date occurring on June 15, 2021. 
 “Class B Interest Rate” means 2.53% per annum
(computed on the basis of a 360-day year of twelve 30-day months). 
 “Class B Note Balance” means, at any time, the
Initial Class B Note Balance reduced by all payments of principal made prior to such time on the Class B Notes. 

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

“Class B Noteholders’ Interest Carryover Shortfall” means, with respect to any Payment Date, the excess of the
Class B Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class B Noteholders’ Interest Carryover Shortfall on such preceding Payment Date, over the amount in respect of interest that is
actually paid to Noteholders of Class B Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders of Class B Notes on the preceding Payment Date, to the extent permitted by law, at the
Class B Interest Rate for the related Interest Period. 
 “Class B Noteholders’ Monthly Accrued Interest”
means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class B Notes at the Class B Interest Rate on the Class B Note Balance on the immediately preceding Payment Date or the
Closing Date, as the case may be, after giving effect to all payments of principal to the Class B Noteholders on or prior to such preceding Payment Date. 

“Class B Notes” means the Class of Notes designated as “Class B Notes”, issued in accordance with
the Indenture. 
 “Class C Final Scheduled Payment Date” means the Payment Date occurring on February 15, 2022.

 “Class C Interest Rate” means 3.62% per annum (computed on the basis of a 360-day year of twelve 30-day
months). 
 “Class C Note Balance” means, at any time, the Initial Class C Note Balance reduced by all payments
of principal made prior to such time on the Class C Notes. 
 “Class C Noteholder” means the Person in whose name
a Class C Note is registered on the Register. 
 “Class C Noteholders’ Interest Carryover Shortfall” means,
with respect to any Payment Date, the excess of the Class C Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class C Noteholders’ Interest Carryover Shortfall on such preceding Payment
Date, over the amount in respect of interest that is actually paid to 

  
 AA-8 

 
Noteholders of Class C Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders of Class C Notes on the preceding Payment Date, to
the extent permitted by law, at the Class C Interest Rate for the related Interest Period. 
 “Class C Noteholders’
Monthly Accrued Interest” means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class C Notes at the Class C Interest Rate on the Class C Note Balance on the
immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Class C Noteholders on or prior to such preceding Payment Date. 

“Class C Notes” means the Class of Notes designated as “Class C Notes”, issued in accordance with
the Indenture. 
 “Clearstream” shall mean Clearstream Bank, société anonyme. 

“Closing Date” means June 5, 2015. 

“Code” means the Internal Revenue Code of 1986. 

“Collateral” has the meaning specified in the Granting Clause of the Indenture. 

“Collection Account” means the account designated as such pursuant to Section 5.01(a) of the Sale and Servicing
Agreement, which has been established by the Indenture Trustee and is to be maintained by the Indenture Trustee as an Eligible Account. 

“Collection Period” means, with respect to any Payment Date, the calendar month immediately preceding the month in which such
Payment Date occurs; provided, however, that the first Collection Period shall commence on the day immediately following the Cutoff Date and end on and include the last day of the calendar month immediately preceding the first Payment
Date. 
 “Collections” means, with respect to any Payment Date and the related Collection Period, the sum of the following
amounts received by the Servicer during or in respect of such Collection Period, without duplication: (i) all collections on or in respect of the Receivables (including any Servicer Advances, all Liquidation Proceeds and Repurchase Prices),
(ii) any Reserve Account Excess Amount, (iii) amounts required to be deposited by the Servicer in the Collection Account pursuant to the Sale and Servicing Agreement to account for investment losses on the Trust Accounts and (iv) any
Reserve Account Draw Amount with respect to such Payment Date; provided, however, that Supplemental Servicing Fees shall not constitute Collections. 

“Commission” means the U.S. Securities and Exchange Commission. 

“Contract” means, with respect to Receivable, a motor vehicle retail installment sale contract or a motor vehicle installment
loan originated, purchased or otherwise acquired by the Seller and made part of the Conveyed Assets. 

  
 AA-9 

 “Controlling Class” means, with respect to any Notes Outstanding, the
Class A Notes as long as any Class A Notes are Outstanding, and thereafter the Class B Notes as long as any Class B Notes are Outstanding, and thereafter the Class C Notes as long as any Class C Notes are Outstanding
(excluding, in each case, Notes held by the Servicer, CRB or any of their respective Affiliates unless all of the Notes then Outstanding are held by the Servicer, CRB and/or their respective Affiliates). 

“Conveyed Assets” means (without duplication), all right, title and interest in and to: 

(a) the Receivables and all moneys received thereon after the Cutoff Date; 

(b) the security interests in the Financed Vehicles granted by Obligors pursuant to the Receivables and in any other property
securing the Receivables, and any other interest of the originator of any Receivable in such Financed Vehicles; 
 (c) any
other property securing any Receivable; 
 (d) any proceeds and the right to receive proceeds with respect to the Receivables
from claims on any physical damage, credit life or disability insurance policies covering Financed Vehicles or Obligors and any Liquidation Proceeds; 

(e) any proceeds from any Receivable repurchased by a Dealer pursuant to a Dealer Agreement as a result of a breach of
representation or warranty in the related Dealer Agreement and any other rights and benefits but none of the obligations or burdens under the Dealer Agreements; 

(f) all rights under any Service Agreements; 

(g) the Receivable Files; 

(h) the right to realize upon any property (including the right to receive future Liquidation Proceeds) that shall have secured
a Receivable and that have been repossessed pursuant to the terms of such Receivable; 
 (i) to the extent such rights have
been transferred to the Depositor, all rights of the Servicer to service the Receivables; 
 (j) all (i) Accounts,
(ii) Chattel Paper, (iii) Documents, (iv) Instruments and (v) General Intangibles (as such terms are defined in the UCC) relating to the property described in (a) through (i); and 

(k) all proceeds and investments with respect to items (a) through (j). 

“Corporate Trust Office” means the principal office of the Indenture Trustee at which at any particular time its applicable
corporate trust business is administered, which office at the date of execution of this Agreement is located at (i) solely for purposes of the transfer, surrender or exchange of certificates – DB Services America, Inc., MS JCK01-0218, 5022
Gate Parkway, Suite 200, Jacksonville, FL 32256 and (ii) for all other purposes – Deutsche Bank Trust 

  
 AA-10 

 
Company Americas, c/o DBNTC, 100 Plaza One, 6th Floor, MS JCY03-0699, Jersey City, NJ 07311, Attention: California Republic Auto Receivables
Trust 2015-2 or at such other address as the Indenture Trustee may designate from time to time by notice to the Noteholders and the Issuer, or the principal corporate trust office of any successor Indenture Trustee at the address designated by such
successor Indenture Trustee by notice to the Noteholders and the Issuer. 
 “CRB” means California Republic Bank, a
California corporation authorized to transact a banking business. 
 “Custodian” means any custodian appointed pursuant to
Section 3.04 or Section 3.08 of the Sale and Servicing Agreement, and shall initially be CRB. 
 “Cutoff Date”
means May 31, 2015. 
 “Cutoff Date Pool Balance” means the Pool Balance as of the Cutoff Date which is $390,000,000.

 “DBRS” means DBRS, Inc. 

“Dealer” means with respect to any Receivable, the motor vehicle dealer that sold the related Financed Vehicle and entered
into a Dealer Agreement and/or any form of assignment. 
 “Dealer Agreement” means with respect to Receivables, the
agreement between a Dealer and the Seller relating to the origination of, or assignment to the Seller of, the related Receivables. 

“Default” means any occurrence that is, or with notice or the lapse of time or both would become, an Event of Default. 

“Definitive Certificates” means the Certificates issued pursuant to the Trust Agreement in definitive form upon termination
of book-entry registration with respect to such Certificate pursuant to Section 3.11 of the Trust Agreement. 
 “Definitive
Notes” means the Notes issued pursuant to the Indenture in definitive form upon termination of book-entry registration with respect to such Notes pursuant to Section 2.13 of the Indenture. 

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

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

  
 AA-11 

 
entries on its books reducing the appropriate Securities Account of the transferor and increasing the appropriate Securities Account of the Indenture Trustee by the amount of such certificated
security and the identification by the clearing corporation of the certificated securities for the sole and exclusive account of the Indenture Trustee (all of the foregoing, “Physical Property”), and, in any event, any such Physical
Property in registered form shall be in the name of the Indenture Trustee or its nominee; and such additional or alternative procedures as may hereafter become appropriate (in the sole discretion of the Indenture Trustee) to effect the complete
transfer of ownership of any such Trust Account Property to the Indenture Trustee or its nominee or custodian, consistent with changes in Applicable Law or regulations or the interpretation thereof; 

(b) with respect to any security issued by the U.S. Treasury, the Federal Home Loan Mortgage Corporation, the Federal National
Mortgage Association or the Government National Mortgage Association that is a book-entry security held through the Federal Reserve System pursuant to federal book-entry regulations, the following procedures, all in accordance with Applicable Law,
including applicable federal regulations and Articles 8 and 9 of the UCC: book-entry registration of such Trust Account Property to an appropriate book-entry account maintained with a Federal Reserve Bank by a Securities Intermediary that is also a
“depository” pursuant to applicable federal regulations; the making by such Securities Intermediary of entries in its books and records crediting such Trust Account Property to the Indenture Trustee’s Securities Account at the
Securities Intermediary and identifying such book-entry security held through the Federal Reserve System pursuant to federal book-entry regulations as belonging to the Indenture Trustee; and such additional or alternative procedures as may hereafter
become appropriate (in the sole discretion of the Indenture Trustee) to effect complete transfer of ownership of any such Trust Account Property to the Indenture Trustee, consistent with changes in Applicable Law or regulations or the interpretation
thereof; 
 (c) with respect to any item of Trust Account Property that is an uncertificated security under Article 8 of the
UCC and that is not governed by clause (b) above, registration on the books and records of the issuer thereof in the name of the Indenture Trustee or its nominee or custodian who either (i) becomes the registered owner on behalf of the
Indenture Trustee or (ii) having previously become the registered owner, acknowledges that it holds for the Indenture Trustee; and 

(d) with respect to any item of Trust Account Property that is a Security Entitlement, causing the Securities Intermediary to
indicate on its books and records that such Security Entitlement has been credited to a Securities Account of the Indenture Trustee. 

“Depositor” means California Republic Funding, LLC, a Delaware limited liability company. 

“Depositor Conveyed Assets” has the meaning specified in Section 2.01(a) of the Sale and Servicing Agreement. 

  
 AA-12 

 “Depository” means The Depository Trust Company, as initial Depository, the
nominee of which is Cede & Co., or any other organization registered as a “clearing agency” pursuant to Section 17A of the Securities Exchange Act of 1934, as amended. The Depository shall at all times be a “clearing
corporation” as defined in Section 8-102(3) of the UCC. 
 “Depository Agreement” means, with respect to any
Class of Notes or any Certificates, the agreement between the Issuer and the initial Depository, dated as of June 5, 2015. 

“Depository Participant” means a securities broker, dealer, bank, trust company, clearing corporation or other financial
institution or other Person for whom from time to time a Depository effects book-entry transfers and pledges of securities deposited with the Depository. 

“Determination Date” means, with respect to each Payment Date, the third Business Day immediately preceding such Payment
Date. 
 “Eligible Account” means either (i) a segregated trust account with an Eligible Institution or (ii) a
segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States or any State, having corporate trust powers and acting as trustee for funds deposited in such account, so long as
any of the securities of such depository institution shall have a short-term unsecured debt rating not less than investment grade by Standard & Poor’s and Moody’s Investors Service, Inc. 

“Eligible Institution” means (i) the corporate trust department of the Indenture Trustee or Owner Trustee or (ii) a
depository institution organized under the laws of the United States or any State, that (a) has either (A) a long-term unsecured debt rating of at least “AA-” by Standard & Poor’s and “A2” by Moody’s
Investors Service, Inc. or (B) a short-term unsecured debt rating or certificate of deposit rating of at least investment grade by Standard & Poor’s and Moody’s Investors Service, Inc. and (b) the deposits of which are
insured by the FDIC. 
 “Eligible Servicer” means, on the Closing Date, CRB, and thereafter any Person that at the time of
its appointment as Servicer is legally qualified and has the capacity to service the Receivables. 
 “ERISA” means the
Employee Retirement Income Security Act of 1974. 
 “Euroclear” means Euroclear Bank S.A./N.V., as operator of the
Euroclear system, or any successor thereto in such capacity. 
 “Event of Default” has the meaning specified in
Section 5.01 of the Indenture. 
 “Exchange Act” means the Securities Exchange Act of 1934. 

“Exchange Act Reports” means any reports on Form 10-D, Form 8-K, Form 10-K, Form ABS-15G or any other form required to be
filed by the Issuer or the Depositor with respect to the Issuer or the Receivables under the Exchange Act. 
 “FDIC” means
the Federal Deposit Insurance Corporation. 

  
 AA-13 

 “FDIC Rule” means the “Treatment of financial assets transferred in
connection with a securitization or participation” adopted by the FDIC, as codified at 12 CFR §360.6, subject to such clarifications and interpretations as may be provided by the FDIC or by the FDIC’s staff from time to time or by a
court of competent jurisdiction. 
 “Final Scheduled Payment Date” means, with respect to (i) the Class A-1
Notes, the Class A-1 Final Scheduled Payment Date, (ii) the Class A-2 Notes, the Class A-2 Final Scheduled Payment Date, (iii) the Class A-3 Notes, the Class A-3 Final Scheduled Payment Date, (iv) the
Class A-4 Notes, the Class A-4 Final Scheduled Payment Date, (v) the Class B Notes, the Class B Final Scheduled Payment Date, and (vi) the Class C Notes, the Class C Final Scheduled Payment Date. 

“Financed Vehicle” means a new or used automobile, light-duty truck or sport utility vehicle, together with all accessions
thereto, securing an Obligor’s indebtedness under the related Contract. 
 “Financial Asset” means a “financial
asset” as defined in Section 8-102(a)(9) of the UCC. 
 “First Allocation of Principal” means, for any Payment
Date and the related Collection Period, an amount not less than zero equal to the excess, if any, of (i) the Class A Note Balance as of the preceding Payment Date (after giving effect to all principal payments made on that preceding
Payment Date or with respect to the first Payment Date, as of the Closing Date) over (ii) the Pool Balance as of the last day of such Collection Period; provided, that the First Allocation of Principal on and after (a) the Class A-1
Final Scheduled Payment Date will not be less than the amount that is necessary to reduce the Class A-1 Note Balance to zero, (b) the Class A-2 Final Scheduled Payment Date will not be less than the amount that is necessary to
reduce the Class A-2 Note Balance to zero, (c) the Class A-3 Final Scheduled Payment Date will not be less than the amount that is necessary to reduce the Class A-3 Note Balance to zero and (d) the Class A-4
Final Scheduled Payment Date will not be less than the amount that is necessary to reduce the Class A-4 Note Balance to zero. 

“Form 8-K Reportable Event” means any event required to be reported on Form 8-K, including each event specified on Part II of
Schedule B (i) for which such Person is the responsible party and (ii) of which such Person (or in the case of the Indenture Trustee, as Trust Officer of such Person) has actual knowledge. 

“Form 10-D Disclosure Item” means, with respect to any Person, any event specified in Part I of Schedule B for which such
Person is the responsible party, if such Person or in the case of the Owner Trustee or Indenture Trustee, a Responsible Officer or Trust Officer, as applicable, of such Person, has actual knowledge of such event. 

“Form 10-K Disclosure Item” means, with respect to any Person, (i) any Form 10-D Disclosure Item and (ii) any
additional items specified in Part III of Schedule B for which such Person is the responsible party, or if such Person is the Indenture Trustee or the Owner Trustee, a Responsible Officer or Trust Officer, as applicable, of such Person has actual
knowledge of such event. 

  
 AA-14 

 “Governmental Authority” means the government of the United States or any
political subdivision thereof, whether State, federal or local, and any agency, authority, instrumentality, regulatory body, court, administrative court or judge, central bank or other entity exercising executive, legislative, judicial, taxing,
regulatory or administrative powers or functions of or pertaining to government. 
 “Grant” means mortgage, pledge,
bargain, sell, warrant, alienate, remise, release, convey, assign, transfer, create, and grant a lien upon and a security interest in and a right of setoff against, deposit, set over and confirm pursuant to the Indenture. A Grant of the Collateral
or of any other agreement or instrument shall include all rights, powers and options (but none of the obligations) of the granting party thereunder, including the immediate and continuing right to claim for, collect, receive and give receipt for
principal and interest payments in respect of the Collateral and all other moneys payable thereunder, to give and receive notices and other communications, to make waivers or other agreements, to exercise all rights and options, to bring Proceedings
in the name of the granting party or otherwise, and generally to do and receive anything that the granting party is or may be entitled to do or receive thereunder or with respect thereto. 

“Holder” or “Noteholder” means a Person in whose name a Note is registered on the Register. 

“Independent” means, when used with respect to any specified Person, that such Person (i) is in fact independent of the
Issuer, any other obligor on the Notes, the Depositor and any Affiliate of any of the foregoing Persons, (ii) does not have any direct financial interest or any material indirect financial interest in the Issuer, any such other obligor, the
Depositor or any Affiliate of any of the foregoing Persons and (iii) is not connected with the Issuer, any such other obligor, the Depositor or any Affiliate of any of the foregoing Persons as an officer, employee, promoter, underwriter,
trustee, partner, director or person performing similar functions. 
 “Independent Certificate” means a certificate or
opinion to be delivered to the Indenture Trustee under the circumstances described in, and otherwise complying with, the applicable requirements of Section 11.01 of the Indenture or TIA, made by an Independent appraiser or other expert
appointed by an Issuer Order and approved by the Indenture Trustee in the exercise of reasonable care, and such opinion or certificate shall state that the signer has read the definition of “Independent” in the Indenture and that the
signer is Independent within the meaning thereof. 
 “Indenture” means the Indenture, dated as of June 1, 2015,
between the Issuer and the Indenture Trustee. 
 “Indenture Trustee” means each Person acting as Indenture Trustee under
the Indenture, initially Deutsche Bank Trust Company Americas. 
 “Initial Class A-1 Note Balance” means $54,300,000.

 “Initial Class A-2 Note Balance” means $100,000,000. 

“Initial Class A-3 Note Balance” means $104,000,000. 

  
 AA-15 

 “Initial Class A-4 Note Balance” means $99,330,000. 

“Initial Class B Note Balance” means $22,230,000. 

“Initial Class C Note Balance” means $10,140,000. 

“Initial Note Balance” means the Initial Class A-1 Note Balance, the Initial Class A-2 Note Balance, the Initial
Class A-3 Note Balance, the Initial Class A-4 Note Balance, the Initial Class B Note Balance or the Initial Class C Note Balance, as applicable, or with respect to the Notes generally, the sum of the foregoing. 

“Initial Reserve Account Deposit Amount” means an amount equal to $975,000.00. 

“Insolvency Event” means, with respect to a specified Person, (i) the filing of a decree or order for relief by a court
having jurisdiction in the premises in respect of such Person or all or any part of its property in an involuntary case under any applicable federal or State bankruptcy, insolvency, receivership or other similar law now or hereafter in effect, or
appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for all or any part of its property, or ordering the winding-up or liquidation of such Person’s affairs, and, if involuntary,
such decree or order shall remain unstayed and in effect for a period of sixty (60) consecutive days or an order or decree approving or ordering any of the foregoing shall be ordered; or (ii) the commencement by such Person of a voluntary
case under any applicable federal or State bankruptcy, insolvency, receivership or other similar law now or hereafter in effect, or the application or consent by such Person to the entry of or failure to contest in a timely and appropriate manner an
order for relief in an involuntary case under any such law, or the consent by such Person to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for all
or any part of its property, or the making by such Person of any general assignment for the benefit of creditors, or the failure by such Person generally, or the admission in writing its inability, to pay its debts as such debts become due, or the
taking of action by such Person in furtherance of any of the foregoing. 
 “Interest Period” means, with respect to each
Payment Date, in the case of (i) the Class A-1 Notes, the period from and including the preceding Payment Date to, but excluding the current Payment Date (or from and including the Closing Date, in the case of the first Payment Date), or
(ii) the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes, the period from and including the 15th day of each calendar month
preceding each Payment Date (or from and including the Closing Date in the case of the first Payment Date) to but excluding the 15th day of the following month. 

“Interest Rate” means, with respect to (i) the Class A-1 Notes, the Class A-1 Interest Rate, (ii) the
Class A-2 Notes, the Class A-2 Interest Rate, (iii) the Class A-3 Notes, the Class A-3 Interest Rate, (iv) the Class A-4 Notes, the Class A-4 Interest Rate, (v) the Class B Notes, the Class B
Interest Rate or (vi) the Class C Notes, the Class C Interest Rate. 
 “Investment Property” means
“investment property” within the meaning of Section 9-102 of the UCC. 

  
 AA-16 

 “Issuer” means California Republic Auto Receivables Trust 2015-2, a Delaware
statutory trust. 
 “Issuer Order” or “Issuer Request” means a written order or request signed in the name
of the Issuer by any one of its Authorized Officers and delivered to the Indenture Trustee. 
 “Item 1119 Party” means the
Depositor, the Seller, the Servicer, the Indenture Trustee, the Owner Trustee and any other material transaction party. 

“Lien” means a security interest, lien, charge, pledge or encumbrance of any kind. 

“Liquidated Receivable” means, with respect to any Collection Period, a Receivable (i) which, at the end of such
Collection Period, is deemed uncollectible by the Servicer in accordance with the Servicing Standard, (ii) in respect of which the Servicer has repossessed the related Financed Vehicle and such Financed Vehicle has been liquidated during such
Collection Period, (iii) in respect of which the Servicer has repossessed the related Financed Vehicle and has held such Financed Vehicle in its or its agent’s repossession inventory for sixty (60) days or more as of the last day of
such Collection Period, (iv) which becomes one hundred twenty (120) days past due during such Collection Period and in respect of which the related Financed Vehicle is not in repossession inventory or (v) which becomes one hundred
eighty (180) days past due during such Collection Period. 
 “Liquidation Proceeds” means with respect to any
Receivable that becomes a Liquidated Receivable, the moneys collected in respect thereof, from whatever source, during or after the Collection Period in which such Receivable became a Liquidated Receivable, including liquidation of the related
Financed Vehicle, insurance proceeds, any recourse under a Dealer Agreement or Service Agreement and indemnities by the related Obligors, net of the sum of any out-of-pocket expenses of the Servicer reasonably allocated to such liquidation and any
amounts required by Applicable Law to be remitted to the related Obligor; provided, however, that no Repurchase Price will constitute Liquidation Proceeds. 

“Material Adverse Effect” shall mean a material adverse change in the ability of a Person to perform its obligations or
enforce its rights under the Sale and Servicing Agreement or any other Basic Document. 
 “Net Investment Earnings” means,
with respect to a Trust Account and any Collection Period, the amount, if any, by which the aggregate of all interest and other income realized during such Collection Period in connection with the investment of funds in Permitted Investments in
accordance with Section 5.01(b) of the Sale and Servicing Agreement exceeds the aggregate of all losses and expenses incurred during such period with respect to such funds. 

“Net Investment Losses” means, with respect to a Trust Account and any Collection Period, the amount, if any, by which the
aggregate of all losses and expenses incurred during such period in connection with the investment of funds in Permitted Investments in accordance with Section 5.01(b) of the Sale and Servicing Agreement exceeds the aggregate of all interest
and other income realized during such period with respect to such funds. 

  
 AA-17 

 “Nonrecoverable Advance” means any Advance made or proposed to be made which the
Servicer in good faith believes is not, or if made would not be, ultimately recoverable from Liquidation Proceeds. In determining whether an Advance is or will be nonrecoverable, the Servicer need not take into account that it might receive any
amounts by deficiency judgment. 
 “Note” means a Class A-1 Note, Class A-2 Note, Class A-3 Note,
Class A-4 Note, Class B Note or Class C Note, in each case substantially in the forms of Exhibit A to the Indenture. 

“Note Balance” means, with respect to any date of determination, the Class A-1 Note Balance, the Class A-2 Note
Balance, the Class A-3 Note Balance, the Class A-4 Note Balance, the Class B Note Balance or the Class C Note Balance, as applicable, or with respect to the Notes generally, the sum of all of the foregoing. 

“Note Factor” means, with respect to the Notes or any Class of Notes on any Payment Date, a seven-digit decimal figure
equal to the Note Balance of the Notes or such Class of Notes, as applicable, as of the close of business on such Payment Date divided by the Note Balance of the Notes or such Class of Notes, as applicable, as of the Closing Date. The
decimal figure referred to in the immediately preceding sentence will be 1.0000000 as of the Closing Date; thereafter, it will decline to reflect reductions in the Note Balance of the Notes or such Class of Notes, as applicable. 

“Note Owner” means, with respect to a Book-Entry Note, the Person who is the beneficial owner of such Book-Entry Note, as
reflected on the books of the Depository or a Person maintaining an account with such Depository (directly as a Depository Participant or as an indirect participant, in each case in accordance with the rules of such Depository). 

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

“Obligor” means, with respect to a Receivable, the Person obligated on the related Contract, and any other Person obligated
to make payments under the Receivable including any Person that executes a guarantee on behalf of such Obligor. 
 “Officer’s
Certificate” means a certificate signed by any Authorized Officer of the Issuer, under the circumstances described in, and otherwise complying with, the applicable requirements of Section 11.01 of the Indenture, and delivered to the
Indenture Trustee. 
 “Opinion of Counsel” means one or more written opinions of counsel, who may be an employee of counsel
to the Seller, the Depositor, the Servicer or the Issuer, which counsel shall be acceptable to the applicable recipient and which shall be addressed to the Owner Trustee and/or the Indenture Trustee, as applicable, and which shall be at the expense
of the Person required to provide such an Opinion of Counsel. 
 “Optional Purchase” has the meaning set forth in
Section 9.01(a) of the Sale and Servicing Agreement. 
 “Optional Purchase Price” has the meaning set forth in
Section 9.01(a) of the Sale and Servicing Agreement. 

  
 AA-18 

 “Outstanding” means, as of the date of determination, all Notes theretofore
authenticated and delivered under the Indenture except: 
 (a) Notes theretofore canceled by the Registrar or delivered to
the Registrar for cancellation; 
 (b) Notes or portions thereof the payment for which money in the necessary amount has been
theretofore deposited with the Indenture Trustee or any Paying Agent in trust for the Noteholders; provided, however, that if such Notes are to be redeemed, notice of such redemption must have been duly given pursuant to the Indenture or provision
for such notice must have been made in a manner satisfactory to the Indenture Trustee; and 
 (c) Notes in exchange for or in
lieu of which other Notes have been authenticated and delivered pursuant to the Indenture unless proof satisfactory to the Indenture Trustee is presented that any such Notes are held by a Protected Purchaser; 

provided, however, that in determining whether the Noteholders of the requisite principal amount of the Notes Outstanding have given any request, demand,
authorization, direction, notice, consent or waiver under the Indenture or under any other Basic Document, Notes owned by the Issuer, any other obligor upon the Notes, the Depositor, the Seller, the Servicer or any of their respective Affiliates
shall be disregarded and deemed not to be Outstanding unless all of the Notes of the related Class or Classes are owned by the Issuer, any other obligor upon the Notes, the Depositor, the Seller, the Servicer or any of their respective
Affiliates, except that, in determining whether the Indenture Trustee shall be protected in relying on any such request, demand, authorization, direction, notice, consent or waiver, only Notes that a Trust Officer of the Indenture Trustee knows to
be so owned shall be so disregarded. 
 “Outstanding Amount Advanced” means, with respect to any Payment Date, the
aggregate of all Advances remitted by the Servicer or expenses paid pursuant to Section 5.07 of the Sale and Servicing Agreement, less the aggregate of all related Advance Reimbursement Amounts actually received by the Servicer prior to such
Payment Date. 
 “Owner” means, with respect to a Book-Entry Note or a Book-Entry Certificate, any person who is a
beneficial owner of a Book-Entry Note or a Book-Entry Certificate, as applicable. 
 “Owner Trustee” means Wilmington
Trust, National Association, a national banking association acting not in its individual capacity but solely as owner trustee under the Trust Agreement. 

“Paid In Full” means, with respect to the Notes, or any particular class of Notes, as indicated by the context, that all
principal, interest and other amounts in respect thereof have been indefeasibly paid in full in cash pursuant to the requirements of the Indenture and the Sale and Servicing Agreement. 

“Paying Agent” means the Indenture Trustee or any other Person that meets the eligibility standards for the Indenture Trustee
specified in Section 6.11 of the Indenture and is authorized 

  
 AA-19 

 
by the Issuer to make payments to and distributions from the Collection Account, the Principal Distribution Account and the Reserve Account in accordance with the terms of the Indenture and the
Sale and Servicing Agreement. 
 “Payment Date” means the 15th day of
each calendar month beginning July 15, 2015; provided, however, that whenever a Payment Date would otherwise be a day that is not a Business Day, the Payment Date shall be the next Business Day. As used in the Basic Documents, the
“related” Payment Date with respect to a Collection Period shall be deemed to be the Payment Date which immediately follows such Collection Period. 

“Permitted Investments” means anyone or more of the following types of investments: 

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

(b) demand deposits, money market deposit accounts, time deposits or certificates of deposit of any depository institution
(including the Servicer, the Indenture Trustee or the Owner Trustee or any of their respective Affiliates) or trust company incorporated under the laws of the United States or any State (or any domestic branch of a foreign bank) and subject to
supervision and examination by federal or State banking or depository institution authorities (including depository receipts issued by any such institution or trust company as custodian with respect to any obligation referred to in clause
(a) above or a portion of such obligation for the benefit of the holders of such depository receipts); provided that at the time of the investment or contractual commitment to invest therein (which shall be deemed to be made again each
time funds are reinvested following each Payment Date), the commercial paper or other short-term senior unsecured debt obligations (other than such obligations the rating of which is based on the credit of a Person other than such depository
institution or trust company) of such depository institution or trust company shall have a credit rating from DBRS of at least “R-1 (low)” (if rated by DBRS) and from Standard & Poor’s in accordance with Standard &
Poor’s Temporary Investment Criteria; 
 (c) commercial paper (including commercial paper of the Servicer, the Indenture
Trustee or the Owner Trustee or any of their respective Affiliates) having, at the time of the investment or contractual commitment to invest therein, a rating from DBRS of at least “R-1 (low)” (if rated by DBRS) and from
Standard & Poor’s in accordance with Standard & Poor’s Temporary Investment Criteria; 
 (d)
investments in money market funds (including funds for which the Servicer, the Indenture Trustee or the Owner Trustee or any of their respective Affiliates is investment manager or advisor) having a rating from DBRS of at least “AAA” (if
rated by DBRS) and from Standard & Poor’s in accordance with Standard & Poor’s Temporary Investment Criteria and which fully qualify for the exemption from withholding tax on dividends under Section 871(k) or 881(e)
of the Code (not taking into account any of the exceptions contained in Section 871(k) and 881(e) that are based on the identity of the applicable holder); 

  
 AA-20 

 (e) banker’s acceptances issued by any depository institution or trust
company referred to in clause (b) above; 
 (f) repurchase obligations with respect to any security that is a direct
obligation of, or fully guaranteed by, the United States or any agency or instrumentality thereof the obligations of which are backed by the full faith and credit of the United States, in either case entered into with a depository institution or
trust company (acting as principal) referred to in clause (b) above; and 
 (g) any other investments that satisfy the
investment criteria of DBRS and Standard & Poor’s for transactions in which the rated obligations have ratings equal to the highest rating then being assigned by each such Rating Agency to any Class of Notes. 

“Person” means any natural or juridical person, including any individual, corporation, partnership, joint venture,
association, limited liability company, joint stock company, trust, business trust, bank, trust company, estate (including any beneficiaries thereof), unincorporated organization or government or any agency or political subdivision thereof. 

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

“Pool Balance” means, as of any date, the aggregate Principal Balance of all Receivables (other than Liquidated Receivables)
on such date. 
 “Predecessor Note” means, with respect to any particular Note, every previous Note evidencing all or a
portion of the same debt as that evidenced by such particular Note; and, for the purpose of this definition, any Note authenticated and delivered under Section 2.05 of the Indenture in lieu of a mutilated, lost, destroyed or stolen Note shall
be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Note. 
 “Principal Balance” means with
respect to any Receivable and any date of determination, the Amount Financed minus an amount equal to the sum, as of the close of business on the last day of the related Collection Period, of that portion of all amounts received on or prior to such
day with respect to such Receivable and allocable to principal. 
 “Principal Distribution Account” means the account
designated as such, established and maintained pursuant to Section 5.01 of the Sale and Servicing Agreement. 
 “Private
Placement Memorandum” means that certain private placement memorandum for the Certificates dated May 29,2015. 

“Proceeding” means any suit in equity, action at law or other judicial or administrative proceeding. 

“Prospectus” means the prospectus supplement, dated May 28, 2015 and the prospectus dated May 21, 2015, relating to
the Notes. 
 “Protected Purchaser” has the meaning set forth in Section 8-303 of the UCC. 

  
 AA-21 

 “Purchased Asset” means a Receivable purchased as of the close of business on
the last day of a Collection Period by or on behalf of the Servicer pursuant to Section 4.07 of the Sale and Servicing Agreement or by or on behalf of the Seller pursuant to Section 3.03 of the Sale and Servicing Agreement. 

“Qualified Institutional Buyer” or “QIB” means a “qualified institutional buyer” as defined in
Rule 144A. 
 “Rating Agency” means either DBRS or Standard & Poor’s. 

“Rating Agency Condition” means, with respect to any action, that (a) the Rating Agency has provided a written
confirmation that such action will not result in a reduction, withdrawal or downgrade of the then-current rating of any Class of Notes, or (b) the Rating Agency shall have been given the ten (10) days’ (or such shorter period as shall
be acceptable to the Rating Agency) prior written notice thereof and shall not have indicated that such action will result in a reduction, withdrawal or downgrade of the then-current rating of any Class of Notes. 

“Receivable Files” means the following documents with respect to each Receivable: 

(a) the original Contract or, where the original cannot be located, a copy of the original Contract or the fully executed
original, electronically authenticated original or “authoritative copy” (within the meaning of Section 9-105 of the UCC) of the Contract, including any written amendments or extensions thereto; 

(b) the original credit application, whether in paper or electronic form, or any copy, duplicate or electronic record thereof;

 (c) the original or replacement certificate of title as issued in paper or electronic form by the appropriate governmental
agency in the State in which the Financed Vehicle is titled, or if the original certificate of title is required to be held by the agency, department or office that issued such original certificate of title, a receipt thereof, and such other
documents that the Servicer shall keep on file, in accordance with its customary standards, policies and procedures, evidencing the security interest of the Seller in the related Financed Vehicle; 

(d) if the odometer reading of the Financed Vehicle at the time of sale to the Obligor is not listed on the certificate of
title or the original credit application, the odometer statement; and 
 (e) any and all other documents that the Servicer
shall have kept on file in accordance with its customary procedures relating to a Contract. 
 “Receivables” means each
motor vehicle loan, motor vehicle retail installment sales contract or other form of financing arrangement and all right, title and interest related thereto and the security therefor and all other rights or interests of the originator and its
assigns therein, evidenced by a Contract listed on Schedule A to the Sale and Servicing Agreement. 

  
 AA-22 

 “Receivables Purchase Agreement” means the Receivables Purchase Agreement, dated
as of June 1, 2015, between the Seller and the Depositor. 
 “Record Date” means, unless otherwise specified in any
Basic Document, with respect to any Payment Date or Redemption Date, for any (i) Definitive Notes and Definitive Certificates, the close of business on the last Business Day of the calendar month immediately preceding the calendar month in
which such Payment Date or Redemption Date occurs and (ii) Book-Entry Notes or Book-Entry Certificates, the close of business on the Business Day immediately preceding such Payment Date or Redemption
Date. 
 “Redemption Date” means, in the case of a redemption of the Notes pursuant to Section 10.01 of the Indenture,
the Payment Date specified by the Servicer or the Issuer pursuant to Section 10.01 of the Indenture. 
 “Redemption
Price” means an amount equal to the sum of (i) unpaid principal amount of the Notes redeemed plus (ii) accrued and unpaid interest thereon at the applicable Interest Rate for the Notes being so redeemed, up to, but excluding, the
Redemption Date. 
 “Register” has the meaning specified in Section 2.04(a) of the Indenture. 

“Registered Holder” means the Person in whose name a Note is registered on the Register on the related Record Date. 

“Registrar” means the registrar at any time of the Register, appointed pursuant to Section 2.04(a) of the Indenture.

 “Regular Principal Distribution Amount” means, for any Payment Date and the related Collection Period, an amount not
less than zero equal to the excess of (a) the Note Balance of the Notes as of the preceding Payment Date (after giving effect to all principal payments made on that preceding Payment Date or with respect to the first Payment Date, as of the
Closing Date) minus the sum of the First Allocation of Principal, the Second Allocation of Principal and the Third Allocation of Principal for the current Payment Date over (b) the Pool Balance as of the end of such Collection Period minus the
Target Overcollateralization Amount; provided, however, that the Regular Principal Distribution Amount on and after the Final Scheduled Payment Date for any Class of Notes will not be less than the amount that is necessary to reduce the Note
Balance of such Class, as applicable, to zero (after the application of the First Allocation of Principal, the Second Allocation of Principal and the Third Allocation of Principal). 

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

“Repurchase Price” means, for each Receivable, a price equal to (i) the remaining Principal Balance of such Receivable
as of the last day of the Collection Period related to the 

  
 AA-23 

 
Payment Date on which the purchase or repurchase occurs, plus (ii) accrued and unpaid interest on such Receivable as of the last date of such Collection Period, together with all unpaid
amounts in respect of such Receivable, less (iii) Advances in respect of such Receivable which have not been reimbursed. 

“Reserve Account” means the account designated as such, established and maintained pursuant to Section 5.01 of the Sale
and Servicing Agreement. 
 “Reserve Account Draw Amount” means, (i) for any Payment Date, an amount equal to the
lesser of (a) the Available Funds Shortfall Amount, if any, and (b) the amount on deposit in the Reserve Account on such Payment Date; (ii) for any Redemption Date, the amount withdrawn from the Reserve Account pursuant to
Section 10.01 of the Indenture; (iii) for any Applicable Payment Date, the amount withdrawn from the Reserve Account pursuant to Section 12.05 of the Indenture; and (iv) any amounts withdrawn from the Reserve Account in
accordance with any other provision of the Indenture, the Sale and Servicing Agreement or any other Basic Document, to the extent any funds are required to be withdrawn from the Reserve Account by any of such provision. 

“Reserve Account Excess Amount” means, with respect to any Payment Date, an amount equal to the excess, if any, of
(i) the amount of cash or other immediately available funds in the Reserve Account on that Payment Date, after giving effect to all deposits to and withdrawals from the the Reserve Account relating to that Payment Date, over (ii) the
Specified Reserve Account Balance with respect to that Payment Date. 
 “Responsible Officer” means, with respect to
(i) CRB, the Servicer or the Depositor, the chairman of the board, the president, any executive vice president, any vice president, the treasurer, any assistant treasurer, the secretary or any assistant secretary thereof or any officer
identified to the Indenture Trustee by CRB, the Servicer or the Depositor as having day-to-day responsibilities for the performance of CRB’s, the Servicer’s or the Depositor’s, as the case may be, duties under the Basic Documents and
(ii) the Owner Trustee, any officer in the Corporate Trust Office of the Owner Trustee with direct responsibility for the administration of the Issuer and, with respect to a particular corporate trust matter, any other officer of the Owner
Trustee to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 

“Rule 17g-5” means Rule 17g-5 under the Exchange Act. 

“Rule 17g-5 Website” means the Rule 17g-5 compliant website. 

“Rule 144A” means Rule 144A under the Securities Act. 

“Sale and Servicing Agreement” means the Sale and Servicing Agreement, dated as of June 1, 2015, among the Issuer, the
Depositor, CRB, as Seller, Servicer, Custodian and Administrator and the Indenture Trustee. 
 “Sarbanes-Oxley Act” means
the Sarbanes-Oxley Act of 2002. 

  
 AA-24 

 “Schedule of Receivables” means the list of conveyed Receivables attached as
Schedule A to the Sale and Servicing Agreement. 
 “Second Allocation of Principal” means, for any Payment Date and the
related Collection Period, an amount not less than zero equal to the excess, if any, of (i) the sum of the Class A Note Balance and the Class B Note Balance as of the preceding Payment Date (after giving effect to all principal
payments made on that preceding Payment Date or, with respect to the first Payment Date, as of the Closing Date) minus the First Allocation of Principal for the current Payment Date over (ii) the Pool Balance as of the last day of such
Collection Period; provided, however, that the Second Allocation of Principal on and after the Final Scheduled Payment Date for the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes or the
Class B Notes will not be less than the amount that is necessary to reduce the Note Balance of each such Class, as applicable, to zero (after the application of the First Allocation of Principal). 

“Section 941 Effective Date” means the effective date of Section 941 Rules. 

“Section 941 Rules” means the regulations required under Section 15G of the Securities Exchange Act, 15 U.S.C. 78a et
seq., added by Section 941(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. 
 “Securities
Account” means a “securities account” as that term is defined in Section 8-501(a) of the New York UCC. 

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

“Securities Intermediary” means a “securities intermediary” as that term is defined in Section 8-102 of the
New York UCC. 
 “Security Entitlement” means a “security entitlement” as that term is defined in
Section 8-102 of the New York UCC. 
 “Seller” means CRB, as the seller of Receivables to the Depositor pursuant to
the Receivables Purchase Agreement. 
 “Service Agreement” means, with respect to a Receivable, any service, repair or
warranty agreement with respect to the related Financed Vehicle. 
 “Servicer” means CRB, as the servicer of the
Receivables and each successor to CRB (in the same capacity) pursuant to Section 7.04 or Section 8.03 of the Sale and Servicing Agreement. 

“Servicer Termination Event” has the meaning set forth in Section 8.01 of the Sale and Servicing Agreement. 

“Servicer’s Annual Certification” has the meaning specified in Section 4.10 of the Sale and Servicing Agreement.

 “Servicer’s Monthly Certificate” means a certificate of the Servicer delivered pursuant to Section 4.09 of the
Sale and Servicing Agreement, substantially in the form of Exhibit B-1. 

  
 AA-25 

 “Servicing Criteria” means the “servicing criteria” set forth in
Item 1122(d) of Regulation AB. 
 “Servicing Criteria Assessment” means a report of the Indenture Trustee’s
assessment of compliance with the Servicing Criteria (as identified substantially in the form of Part IV of Schedule B of the Sale and Servicing Agreement and where the Indenture Trustee is listed as “Responsible Party”) during the
immediately preceding calendar year, as set forth under Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB. 

“Servicing Fee” with respect to the servicing of the Receivables means, with respect to each Payment Date and the related
Collection Period, the sum of (a) an amount equal to the product of one twelfth (1/12) of the Servicing Fee Rate and the Pool Balance as of the first day of such Collection Period and (b) any Supplemental Servicing Fees. 

“Servicing Fee Rate” means 1.00% per annum. 

“Servicing Standard” has the meaning set forth in Section 4.01(a) of the Sale and Servicing Agreement. 

“Similar Law” means any federal, State, local or non-U.S. law that is similar to Section 406 of ERISA or
Section 4975 of the Code. 
 “Simple Interest Method” means, with respect to a Receivable, the method of allocating a
fixed level payment between principal and interest, pursuant to which the portion of such payment that is allocated to interest is equal to the product of the applicable interest rate multiplied by the unpaid Principal Balance of such
Receivable multiplied by the period of time (expressed as a fraction of a year, based on the actual number of days in the month and a 365-day year or, in the event of a leap year, a 366-day year) elapsed since the preceding payment was received by
the Servicer. The remainder of such payment is allocable to fees and charges, if any, and to principal in the manner determined at the direction of the Servicer; provided, however, that the Servicer applies Liquidation Proceeds, insurance proceeds
and amounts in respect of deficiency balances first to unpaid interest, second to principal, third to unpaid late fees and fourth to any receivable relating to the premium paid on any force-placed insurance policy. 

“Small Balance Waiver” means a waiver of any unpaid amounts not to exceed $100 owed with respect to a Receivable in
connection with its final payout, which is granted by the Servicer in accordance with the Servicing Standard. 
 “Specified Reserve
Account Balance” means, with respect to any Payment Date, an amount equal to $975,000.00 (which is approximately 0.25% of the Cutoff Date Pool Balance). 

“Standard & Poor’s” means Standard & Poor’s Ratings Services, a Standard & Poor’s
Financial Services LLC business. 
 “Standard & Poor’s Temporary Investment Criteria” means the criteria set
forth in that certain “Global Investment Criteria For Temporary Investments In Transaction Accounts,” dated May 31, 2012, by Standard & Poor’s. 

  
 AA-26 

 “State” means any state or territory of the United States, including the
District of Columbia. 
 “Successor Servicer” means the servicer appointed pursuant to Section 3.07(e) of the
Indenture. 
 “Supplemental Servicing Fees” means any and all (i) late fees, (ii) extension fees,
(iii) non-sufficient funds charges and (iv) any and all other administrative fees or similar charges allowed by Applicable Law with respect to any Receivable. 

“Target Overcollateralization Amount” means, with respect to any Payment Date, $5,265,000.00 (which is approximately 1.35% of
the Cutoff Date Pool Balance). 
 “Tax Opinion” means, with respect to any action, an Opinion of Counsel (which counsel
shall not be an employee of the Issuer or an Affiliate of the Issuer) to the effect that, for federal and, unless waived by the applicable recipient in writing, State and local income, single business and franchise tax purposes, (i) such action
will not adversely affect the tax characterization of any outstanding Notes that are characterized as debt, (ii) such action will not cause the Issuer to be deemed to be an association (or publicly-traded partnership) taxable as a corporation,
and (iii) such action will not cause or constitute an event in which gain or loss would be recognized by any Noteholder. 

“Third Allocation of Principal” means, for any Payment Date and the related Collection Period, an amount not less than zero
equal to the excess, if any, of (i) the aggregate Note Balance of all Notes as of the preceding Payment Date (after giving effect to all principal payments made on that preceding Payment Date or, with respect to the first Payment Date, as of
the Closing Date) minus the sum of the First Allocation of Principal and Second Allocation of Principal for the current Payment Date over (ii) the Pool Balance as of the last day of such Collection Period; provided, however, that the Third
Allocation of Principal on and after the Final Scheduled Payment Date for the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes or the Class C Notes will not be less than
the amount that is necessary to reduce the Note Balance of each such Class, as applicable, to zero (after the application of the First Allocation of Principal and Second Allocation of Principal). 

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

“Trust Accounts” means the Collection Account, the Principal Distribution Account and the Reserve Account. 

“Trust Agreement” means the Amended and Restated Trust Agreement, dated as of June 1, 2015, among Depositor as grantor
and beneficiary, and the Owner Trustee as owner trustee. 
 “Trust Indenture Act” or “TIA” means the Trust
Indenture Act of 1939. 

  
 AA-27 

 “Trust Officer” means, in the case of (i) the Indenture Trustee, any
officer within the Corporate Trust Office of the Indenture Trustee, including any managing director, director, vice president, assistant vice president, assistant treasurer, assistant secretary or any other officer of the Indenture Trustee
customarily performing functions similar to those performed by any of the above-designated officers and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and
familiarity with the particular subject, in each case having direct responsibility for the administration of the Basic Documents and, (ii) the Owner Trustee, any officer in the Corporate Trust Administration Department of the Owner Trustee with
direct responsibility for the administration of the Trust Agreement and the other Basic Documents on behalf of the Owner Trustee. 

“Trustee Fees” means the fees payable by the Issuer to the Indenture Trustee and the Owner Trustee, which fees shall not
exceed an aggregate amount per annum equal to $100,000. 
 “UCC” means the Uniform Commercial Code, as in effect in the
relevant jurisdiction. 
 “Underwriter” means Credit Suisse Securities (USA) LLC, as underwriter with respect to the Notes
under the Underwriting Agreement. 
 “Underwriting Agreement” means the Underwriting Agreement, dated May 28, 2015,
among the Underwriter, CRB, and the Depositor. 

  
 AA-28

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