Document:

EX-10.4

 Exhibit 10.4 

 
  

 
 ADMINISTRATION AGREEMENT

 among 
 FIFTH THIRD AUTO TRUST 2013–1, 
 as Issuer 

FIFTH THIRD BANK, 
 as Administrator 
 and 

DEUTSCHE BANK TRUST COMPANY AMERICAS, 
 as Indenture Trustee 
 Dated as of August 21, 2013 

 
  

 

 TABLE OF CONTENTS 

 

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

  

					
		 	i	 	 Administration Agreement

(2013-1)

 THIS ADMINISTRATION AGREEMENT (as amended, supplemented or otherwise
modified and in effect from time to time, this “Agreement”), dated as of August 21, 2013, is among FIFTH THIRD AUTO TRUST 2013-1, a Delaware statutory trust (the “Issuer”), FIFTH THIRD BANK, an Ohio
banking corporation as administrator (the “Bank” or in its capacity as administrator, the “Administrator”), and DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York trust company, as indenture trustee (the
“Indenture Trustee”). Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned such terms in Appendix A to the Sale Agreement dated as of August 21, 2013 (as amended, supplemented
or otherwise modified and in effect from time to time, the “Sale Agreement”) by and between Fifth Third Holdings Funding, LLC (the “Seller”), as seller and the Issuer, which contains rules as to usage that are
applicable herein. 
 W I T N E S S E T H : 

WHEREAS, the Seller and Wilmington Trust, National Association (the “Owner Trustee”) have entered into
the Amended and Restated Trust Agreement dated as of August 21, 2013 (as amended, supplemented or otherwise modified and in effect from time to time, the “Trust Agreement”); 

WHEREAS, the Issuer has issued the Notes pursuant to the Indenture and the Certificate pursuant to the Trust Agreement
and has entered into certain agreements in connection therewith, including, (i) the Sale Agreement, (ii) the Indenture, (iii) the Note Depository Agreement and (iv) the Servicing Agreement (the Trust Agreement and each of the
agreements referred to in clauses (i) through (iv) are referred to herein collectively as the “Issuer Documents”); 
 WHEREAS, to secure payment of the Notes, the Issuer has pledged the Collateral to the Indenture Trustee pursuant to the Indenture; 

WHEREAS, pursuant to the Issuer Documents, the Issuer is required to perform certain duties; 

WHEREAS, the Issuer desires to have the Administrator perform certain of the duties of the Issuer, and to provide such
additional services consistent with this Agreement and the Issuer Documents as the Issuer may from time to time request; 
 WHEREAS, the Administrator has the capacity to provide the services required hereby and is willing to perform such services for the Issuer on the terms set forth herein; 

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

  

					
		 		 	 Administration Agreement

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 1. Duties of the Administrator. 

(a) Duties with Respect to the Issuer Documents. The Administrator shall perform all of its duties
as Administrator under this Agreement and the Issuer Documents and the duties and obligations of the Issuer under the Issuer Documents; provided, however, except as otherwise provided in the Issuer Documents, that the Administrator
shall have no obligation to make any payment required to be made by the Issuer under any Issuer Document. In addition, the Administrator shall consult with the Issuer and the Owner Trustee regarding the Issuer’s duties and obligations under the
Issuer Documents. The Administrator shall monitor the performance of the Issuer and shall advise the Issuer when action is necessary to comply with the Issuer’s duties and obligations under the Issuer Documents. Other than such items to be
performed by the Owner Trustee pursuant to Section 5.4 of the Trust Agreement and by the Indenture Trustee pursuant to Section 6.6(a) and (b) of the Indenture, the Administrator shall perform such calculations,
and shall prepare for execution by the Issuer or the Owner Trustee or shall cause the preparation by other appropriate Persons of all such documents, reports, filings, instruments, certificates, notices and opinions as it shall be the duty of the
Issuer to prepare, file or deliver pursuant to the Issuer Documents. In furtherance of the foregoing, the Administrator shall take all appropriate action that is the duty of the Issuer to take pursuant to the Issuer Documents, and shall prepare,
execute, file and deliver on behalf of the Issuer or the Owner Trustee all such documents, reports, filings, instruments, certificates, notices and opinions as it shall be the duty of the Issuer to prepare, file or deliver pursuant to the Issuer
Documents or otherwise by law. 
 (b) Notices to Rating Agencies. The Administrator, on
behalf of the Issuer, shall give notice to each Rating Agency of (i) any material breach of the perfection representations, warranties and covenants contained in Schedule II of the Purchase Agreement, Schedule II of the
Receivables Sale Agreement, Schedule III of the Sale Agreement and Schedule I of the Indenture; (ii) the termination of, and/or appointment of a successor to, the Servicer pursuant to Sections 6.1 and 6.2 of the
Servicing Agreement; (iii) any waiver of a Servicer Replacement Event pursuant to Section 6.1(b) of the Servicing Agreement; (iv) any amendment to the Servicing Agreement pursuant to Section 8.1 of the Servicing
Agreement; (v) any Officer’s Certificate delivered pursuant to Section 3.12 of the Indenture with respect to any Event of Default under the Indenture; (vi) any officer’s certificate of the Issuer delivered pursuant to
Section 3.9 of the Indenture; (vii) any resignation or removal of the Indenture Trustee pursuant to Section 6.8 of the Indenture; (viii) any merger or consolidation of the Indenture Trustee pursuant to
Section 6.9 of the Indenture; (ix) any notice of Default pursuant to Section 6.5 of the Indenture; (x) any supplemental indenture pursuant to Sections 9.1 or 9.2 of the Indenture; (xi) any notice
of merger, consolidation or succession of the Servicer pursuant to Section 5.3 of the Servicing Agreement; (xii) any amendment pursuant to Section 13 of this Agreement; (xiii) any merger or consolidation of the
Seller pursuant to Section 3.3 of the Sale Agreement, in the case of each of (i) through (xiii), which notice shall be given promptly upon the Administrator being notified thereof by the Depositor, the Owner Trustee,
the Indenture Trustee or the Servicer. 

  

					
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 (c) Upon dissolution of the Issuer, the Administrator shall
wind up the business and affairs of the Issuer in accordance with Section 9.2 of the Trust Agreement. 
 (d) No Action by Administrator. Notwithstanding anything to the contrary in this Agreement, the Administrator shall not be obligated to, and shall not, take any action that the Issuer directs the
Administrator not to take or which would result in a violation or breach of the Issuer’s covenants, agreements or obligations under any of the Issuer Documents. 

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

(i) Notwithstanding anything to the contrary in this Agreement, with respect to matters that in the
reasonable judgment of the Administrator are non-ministerial, the Administrator shall not take any action unless, within a reasonable time before the taking of such action, the Administrator shall have
notified the Issuer of the proposed action and the Issuer shall not have withheld consent or provided an alternative direction. For the purpose of the preceding sentence, “non-ministerial matters” shall include, without limitation:

 (A) the initiation of any claim or lawsuit by the Issuer and the compromise of any action,
claim or lawsuit brought by or against the Issuer; 
 (B) the appointment of successor Note
Registrars, successor Paying Agents, successor Indenture Trustees, successor Administrators or successor Servicers, or the consent to the assignment by the Note Registrar, the Paying Agent or the Indenture Trustee of its obligations under the
Indenture; and 
 (C) the removal of the Indenture Trustee. 

(ii) Notwithstanding anything to the contrary in this Agreement, the Administrator shall not be obligated
to, and shall not, (x) make any payments to the Noteholders under the Transaction Documents or (y) except as provided in the Transaction Documents, sell the Trust Estate. 

2. Records. The Administrator shall maintain appropriate books of account and records relating to services
performed hereunder, which books of account and records shall be accessible for inspection upon reasonable written request by the Issuer, the Seller and the Indenture Trustee at any time during normal business hours. 

3. Compensation; Payment of Fees and Expenses. As compensation for the performance of the Administrator’s
obligations under this Agreement and as reimbursement for its expenses related thereto, the Administrator shall be entitled to receive $12,000 annually which shall be solely an obligation of the Servicer. The Administrator shall pay all expenses
incurred by it in connection with its activities hereunder. 
 4. Independence of the Administrator. For
all purposes of this Agreement, the Administrator shall be an independent contractor and shall not be subject to the supervision of the Issuer with respect to the manner in which it accomplishes the performance of its obligations

  

					
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hereunder. Unless expressly authorized by the Issuer, the Administrator shall have no authority to act for or to represent the Issuer in any way (other than as permitted hereunder) and shall not
otherwise be deemed an agent of the Issuer. 
 5. No Joint Venture. Nothing contained in this Agreement
(i) shall constitute the Administrator and the Issuer as members of any partnership, joint venture, association, syndicate, unincorporated business or other separate entity, (ii) shall be construed to impose any liability as such on the
Administrator or the Issuer or (iii) shall be deemed to confer on the Administrator or the Issuer any express, implied or apparent authority to incur any obligation or liability on behalf of the other. 

6. Other Activities of the Administrator. Nothing herein shall prevent the Administrator or its Affiliates from
engaging in other businesses or, in its sole discretion, from acting in a similar capacity as an Administrator for any other Person even though such Person may engage in business activities similar to those of the Issuer, the Owner Trustee or the
Indenture Trustee. 
 7. Representations and Warranties of the Administrator. The Administrator
represents and warrants to the Issuer and the Indenture Trustee as follows: 
 (a) Existence
and Power. The Administrator is a banking corporation validly existing and in good standing under the laws of its state of organization and has, in all material respects, all power and authority to carry on its business as now conducted. The
Administrator has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the Administrator to perform its obligations under the Transaction Documents or
affect the enforceability or collectibility of the Receivables or any other part of the Collateral. 
 (b) Authorization and No Contravention. The execution, delivery and performance by the Administrator of the Transaction Documents to which it is a party (i) have been duly authorized by
all necessary action on the part of the Administrator and (ii) do not contravene or constitute a default under (A) any applicable law, rule or regulation, (B) its organizational documents or (C) any material agreement, contract,
order or other instrument to which it is a party or its property is subject (other than violations which do not affect the legality, validity or enforceability of any of such agreements and which, individually or in the aggregate, would not
materially and adversely affect the transactions contemplated by, or the Administrator’s ability to perform its obligations under, the Transaction Documents). 

(c) No Consent Required. No approval or authorization by, or filing with, any Governmental
Authority is required in connection with the execution, delivery and performance by the Administrator of any Transaction Document other than (i) UCC filings, (ii) approvals and authorizations that have previously been obtained and filings
that have previously been made and (iii) approvals, authorizations or filings which, if not obtained or made, would not have a material adverse effect on the enforceability or collectibility of the Receivables or any other part of the
Collateral or would not materially 

  

					
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and adversely affect the ability of the Administrator to perform its obligations under the Transaction Documents. 

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

8. Administrator Replacement Events; Termination of the Administrator. 

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

(c) The occurrence of any one of the following events (each, an “Administrator Replacement
Event”) shall also entitle the Issuer, subject to Section 22 hereof, to terminate and replace the Administrator: 
 (i) any failure by the Administrator to deliver or cause to be delivered to the Indenture Trustee or the Owner Trustee for deposit into the Collection Account any payment required to be so delivered by
the Administrator under the terms of this Agreement, which failure continues unremedied for five (5) Business Days after discovery thereof by a Responsible Officer of the Administrator or receipt by a Responsible Officer of the Administrator of
written notice thereof from the Indenture Trustee or Noteholders evidencing at least a majority of the Note Balance (or, if no Notes are Outstanding, from the Majority Certificateholders); 

(ii) any failure by the Administrator to duly observe or perform in any material respect any other of its
covenants or agreements in this Agreement, which failure materially and adversely affect the rights of the Issuer, the Noteholders or the Certificateholders, and which continues unremedied for ninety (90) days after discovery thereof by a
Responsible Officer of the Administrator or receipt by the Administrator of written notice thereof from the Indenture Trustee or Noteholders evidencing at least a majority of the Outstanding Note Balance (or, if no Notes are Outstanding, by the
Majority Certificateholders); 
 (iii) any representation or warranty of the Administrator made
in this Agreement or any certificate delivered by the Administrator pursuant to this Agreement proves to have been incorrect in any material respect when made, which failure materially and adversely affects the rights of the Issuer, the

  

					
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Noteholders or the Certificateholders, and which failure continues unremedied for ninety (90) days after discovery thereof by a Responsible Officer of the Administrator or receipt by the
Administrator of written notice thereof from the Indenture Trustee or Noteholders evidencing at least a majority of the Outstanding Note Balance. 

(iv) the Administrator suffers a Bankruptcy Event; 

provided, further, that (A) if any delay or failure of performance referred to in clause (i) above
shall have been caused by force majeure or other similar occurrence, the five Business Day grace period referred to in such clause (i) shall be extended for an additional sixty 60 calendar days and (B) if any delay or failure of
performance referred to in clause (b) above shall have been caused by force majeure or other similar occurrence, the ninety (90) day grace period referred to in such clause (ii) or clause (iii) shall be extended for
an additional sixty (60) calendar days. The existence or occurrence of any “material instance of noncompliance” (within the meaning of Item 1122 of Regulation AB) shall not create any presumption that any event in clauses
(i), (ii) or (iii) above has occurred. 
 (d) If an Administrator
Replacement Event shall have occurred, the Issuer may, subject to Section 22 hereof, by notice given to the Administrator and the Owner Trustee, terminate all or a portion of the rights and powers of the Administrator under this
Agreement, including the rights of the Administrator to receive the annual fee for services hereunder for all periods following such termination; provided, however, that such termination shall not become effective until such time as
the Issuer, subject to Section 22 hereof, shall have appointed a successor Administrator in the manner set forth below. Upon any such termination, all rights, powers, duties and responsibilities of the Administrator under this Agreement
shall vest in and be assumed by any successor Administrator appointed by the Issuer, subject to Section 22 hereof, pursuant to a management or administration agreement between the Issuer and such successor Administrator, containing
substantially the same provisions as this Agreement (including with respect to the compensation of such successor Administrator), and the successor Administrator is hereby irrevocably authorized and empowered to execute and deliver, on behalf of the
Administrator, as attorney-in-fact or otherwise, all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect such vesting and assumption. Further, in such event, the Administrator shall
use its commercially reasonable efforts to effect the orderly and efficient transfer of the administration of the Issuer to the new Administrator. 

(e) The Issuer, subject to Section 22 hereof, may waive in writing any Administrator
Replacement Event by the Administrator in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past Administrator Replacement Event, such Administrator Replacement Event shall cease to exist, and any
Administrator Replacement Event arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other Administrator Replacement Event or impair any right consequent
thereon. 

  

					
		 	6	 	 Administration Agreement

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 9. Action upon Termination or Removal. Promptly upon the effective
date of termination of this Agreement pursuant to Section 8, or the removal of the Administrator pursuant to Section 8, the Administrator shall be entitled to be paid by the Servicer all fees and reimbursable expenses
accruing to it to the date of such termination or removal. 
 10. Liens. The Administrator will not
directly or indirectly create, allow or suffer to exist any Lien on the Collateral other than Permitted Liens. 

11. Notices. All demands, notices and communications hereunder shall be in writing and shall be delivered or
mailed by registered or certified first-class United States mail, postage prepaid, hand delivery, prepaid courier service, by facsimile or, if so provided on Schedule II to the Sale Agreement, by
electronic transmission, and addressed in each case as specified on Schedule II to the Sale Agreement or at such other address as shall be designated by any of the specified addressees in a written notice to the other parties hereto. Delivery
shall occur only upon receipt or reported tender of such communication by an officer of the recipient entitled to receive such notices located at the address of such recipient for notices hereunder. 

12. Compliance with the FDIC Rule. The Administrator (i) shall perform the covenants set forth in Article
XII of the Indenture applicable to it and (ii) shall facilitate compliance with Article XII of the Indenture by the Fifth Third Parties. 
 13. Amendments. 
 (a) Any term or provision
of this Agreement may be amended by the Administrator without the consent of the Indenture Trustee, any Noteholder, the Issuer, the Owner Trustee or any other Person subject to the satisfaction of one of the following conditions: 

(i) The Administrator delivers an Opinion of Counsel or an Officer’s Certificate to the Indenture
Trustee to the effect that such amendment will not materially and adversely affect the interests of the Noteholders; or 
 (ii) The Rating Agency Condition is satisfied with respect to such amendment and the Administrator notifies the Indenture Trustee in writing that the Rating Agency Condition is satisfied with respect to
such amendment. 
 (b) This Agreement may also be amended from time to time by the Administrator
and the Indenture Trustee, with the consent of (i) the Holders of Notes evidencing not less than a majority of the Outstanding Note Balance and (ii) the Majority Certificateholders, for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders or the Certificateholders. It will not be necessary for the consent of Noteholders or Certificateholders to approve the
particular form of any proposed amendment or consent, but it will be sufficient if such consent approves the substance thereof. The manner of obtaining such consents (and any other consents of Noteholders and Certificateholders provided for in this
Agreement) and of evidencing the authorization of the execution thereof by Noteholders and Certificateholders will be subject to such reasonable requirements as the Indenture Trustee and Owner Trustee may

  

					
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prescribe, including the establishment of record dates pursuant to the Note Depository Agreement. 

(c) Prior to the execution of any amendment pursuant to this Section 13, the Administrator
shall provide written notification of the substance of such amendment to each Rating Agency and the Owner Trustee; and promptly after the execution of any such amendment, the Administrator shall furnish a copy of such amendment to each Rating
Agency, the Owner Trustee and the Indenture Trustee; provided, that no amendment pursuant to this Section 13 shall be effective which materially and adversely affects the rights, protections or duties of the Indenture Trustee or
the Owner Trustee without the prior written consent of such Person. 
 (d) Prior to the execution
of any amendment to this Agreement, the Owner Trustee and the Indenture Trustee shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement
and an Officer’s Certificate of the Depositor or the Administrator that all conditions precedent to the execution and delivery of such amendment have been satisfied. The Owner Trustee and the Indenture Trustee may, but shall not be obligated
to, enter into any such amendment which materially and adversely affects the Owner Trustee’s or the Indenture Trustee’s, as applicable, own rights, privileges, indemnities, duties or obligations under this Agreement, the Transaction
Documents or otherwise. 
 (e) Notwithstanding subsection (a) of this
Section 13, this Agreement may only be amended by the Administrator if (i) the Majority Certificateholders consent to such amendment or (ii) such amendment shall not, as evidenced by an Officer’s Certificate of the
Administrator or an Opinion of Counsel delivered to the Indenture Trustee and the Owner Trustee, materially and adversely affect the interests of the Certificateholders. 

14. Governing Law; Submission to Jurisdiction; Waiver of Jury Trial. 

(a) THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL, SUBSTANTIVE LAWS
OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO CONFLICTS OF LAW, OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE
DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 (b) Each of the parties hereto hereby irrevocably
and unconditionally: 
 (i) submits for itself and its property in any legal action or Proceeding
relating to this Agreement or any documents executed and delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts of the State of New York,

  

					
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the courts of the United States of America for the Southern District of New York and appellate courts from any thereof; 

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

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

(iv) agrees that nothing herein shall affect the right to effect service of process in any other manner
permitted by law or shall limit the right to sue in any other jurisdiction; and 
 (v) to the
extent permitted by applicable law, each party hereto irrevocably waives all right of trial by jury in any action, Proceeding or counterclaim based on, or arising out of, under or in connection with this Agreement, any other Transaction Document, or
any matter arising hereunder or thereunder. 
 15. Headings. The section headings hereof have been
inserted for convenience of reference only and shall not be construed to affect the meaning, construction or effect of this Agreement. 
 16. Counterparts. This Agreement may be executed in any number of counterparts (including by way of electronic or facsimile transmission), each of which so executed shall be deemed to be an
original, but all of such counterparts shall together constitute but one and the same instrument. 
 17.
Entire Agreement. The Transaction Documents contain a final and complete integration of all prior expressions by the parties hereto with respect to the subject matter thereof and shall constitute the entire agreement among the parties hereto
with respect to the subject matter thereof, superseding all prior oral or written understandings. There are no unwritten agreements among the parties. 
 18. Severability of Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such covenants,
agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement.

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

  

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

21. Delegation of Duties. The Administrator may, at any time without notice or consent, delegate (a) any or
all of its duties under the Transaction Documents to any of its Affiliates or (b) specific duties to sub-contractors or other professional services firms (including accountants, outside legal counsel or similar concerns) who are in the business
of performing such duties; provided, that no such delegation shall relieve the Administrator of its responsibility with respect to such duties and the Administrator shall remain obligated hereunder as if the Administrator alone were
performing such duties. 
 22. Assignment. The Administrator hereby acknowledges and agrees that for so
long as any Notes are outstanding, the Indenture Trustee will have the right to exercise all waivers and consents, rights, remedies, powers, privileges and claims of the Issuer under this Agreement in the event the Issuer shall fail to exercise the
same. 
 23. Nonpetition Covenant. Each party hereto agrees that, prior to the date which is one year and
one day after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by any Bankruptcy Remote Party (i) such party shall not authorize any Bankruptcy Remote Party to commence a voluntary
winding-up or other voluntary case or other Proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect in
any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any substantial part of its property or to consent to any such
relief or to the appointment of or taking possession by any such official in an involuntary case or other Proceeding commenced against such Bankruptcy Remote Party, or to make a general assignment for the benefit of, its creditors generally, any
party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence or join with any other Person in commencing any Proceeding against such Bankruptcy Remote Party under any bankruptcy,

  

					
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reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. 
 24. Limitation of Liability. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Wilmington Trust, National Association, not
individually or personally but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it under the Trust Agreement, (b) 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, (c) nothing
herein contained shall be construed as creating any liability on Wilmington Trust, National Association, individually or personally, to perform any covenant either express or implied contained herein, all such liability, if any, being expressly
waived by the parties hereto and any Person claiming by, through or under the parties hereto, and (d) 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 Agreement or the other related documents. 

[SIGNATURES ON NEXT PAGE] 

  

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

			
	FIFTH THIRD AUTO TRUST 2013-1

 
			
		
	 By:
	 	 Wilmington Trust, National Association,
 not in its individual capacity
 but solely as Owner
Trustee

 
			
		
	 By:
	 	   /s/ Erwin M.
Soriano

 
			
	 Name:
	 	 Erwin M. Soriano

	 Title:
	 	 Assistant Vice President

  

					
		 	S-1	 	 Administration Agreement

(2013-1)

 
			
	FIFTH THIRD BANK,
	 as Administrator

		
	 By:
	 	   /s/ Nathan
Steuber

 
			
	 Name:
	 	 Nathan Steuber

	 Title:
	 	 VP

  

					
		 	S-2	 	 Administration Agreement

(2013-1)

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

		
	 By:
	 	   /s/ Irene
Siegel

 
			
	 Name:
	 	 Irene Siegel

	 Title:
	 	 Vice President

 
			
		
	 By:
	 	   /s/ Maria
Inoa

 
			
	 Name:
	 	 Maria Inoa

	 Title:
	 	 Assistant Vice President

  

					
		 	S-3	 	 Administration Agreement

(2013-1)EX-10.5

 Exhibit 10.5 

 
  
 RECEIVABLES SALE AGREEMENT 
 dated as of August 21, 2013 

between 

FIFTH THIRD BANK 
 and 
 FIFTH THIRD HOLDINGS, LLC 

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
			
	 ARTICLE I
	  	 DEFINITIONS AND USAGE
	  	 	1	  
			
	 SECTION 1.1
	  	 Definitions
	  	 	1	  
			
	 SECTION 1.2
	  	 Other Interpretive Provisions
	  	 	1	  
			
	 ARTICLE II
	  	 PURCHASE
	  	 	2	  
			
	 SECTION 2.1
	  	 Agreement to Sell and Contribute on the Closing Date
	  	 	2	  
			
	 SECTION 2.2
	  	 Consideration and Payment
	  	 	2	  
			
	 ARTICLE III
	  	 REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	 	2	  
			
	 SECTION 3.1
	  	 Representations and Warranties of the Bank
	  	 	2	  
			
	 SECTION 3.2
	  	 Representations and Warranties of the Bank as to each Receivable
	  	 	3	  
			
	 SECTION 3.3
	  	 Repurchase upon Breach
	  	 	4	  
			
	 SECTION 3.4
	  	 Protection of Title
	  	 	4	  
			
	 SECTION 3.5
	  	 Other Liens or Interests
	  	 	5	  
			
	 SECTION 3.6
	  	 Perfection Representations, Warranties and Covenants
	  	 	5	  
			
	 SECTION 3.7
	  	 Official Record
	  	 	5	  
			
	 SECTION 3.8
	  	 Compliance with the FDIC Rule
	  	 	5	  
			
	 SECTION 3.9
	  	 Merger or Consolidation of, or Assumption of the Obligations of, the Bank
	  	 	5	  
			
	 SECTION 3.10
	  	 Bank May Own Notes
	  	 	6	  
			
	 ARTICLE IV
	  	 MISCELLANEOUS
	  	 	6	  
			
	 SECTION 4.1
	  	 Transfers Intended as Sale; Security Interest
	  	 	6	  
			
	 SECTION 4.2
	  	 Notices, Etc
	  	 	7	  
			
	 SECTION 4.3
	  	 Choice of Law
	  	 	7	  
			
	 SECTION 4.4
	  	 Headings
	  	 	7	  
			
	 SECTION 4.5
	  	 Counterparts
	  	 	8	  
			
	 SECTION 4.6
	  	 Amendment
	  	 	8	  
			
	 SECTION 4.7
	  	 Waivers
	  	 	9	  
			
	 SECTION 4.8
	  	 Entire Agreement
	  	 	9	  
			
	 SECTION 4.9
	  	 Severability of Provisions
	  	 	9	  
			
	 SECTION 4.10
	  	 Binding Effect
	  	 	9	  
			
	 SECTION 4.11
	  	 Acknowledgment and Agreement
	  	 	9	  
			
	 SECTION 4.12
	  	 Cumulative Remedies
	  	 	10	  

  

					
		 	i	  	 Receivables Sale Agreement

(2013-1)

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	 	  	Page	 
			
	 SECTION 4.13
	  	 Nonpetition Covenant
	  	 	10	  
			
	 SECTION 4.14
	  	 Submission to Jurisdiction; Waiver of Jury Trial
	  	 	10	  
			
	 SECTION 4.15
	  	 Not Applicable to the Bank in Other Capacities
	  	 	11	  

  

					
		 	-ii-	  	 Receivables Sale Agreement

(2013-1)

 TABLE OF CONTENTS 

(continued) 
  

 EXHIBITS 

 

			
	 Exhibit A
	  	 Form of Assignment Pursuant to Receivables Sale Agreement

	 Schedule I
	  	 Representations and Warranties With Respect to the Receivables

	 Schedule II
	  	 Perfection Representations, Warranties and Covenants

	 Schedule III
	  	 Schedule of the Bank Transferred Assets

  

					
		 	iii	  	 Receivables Sale Agreement

(2013-1)

 THIS RECEIVABLES SALE AGREEMENT is made and entered into as of
August 21, 2013 (as amended, restated, supplemented or otherwise modified and in effect from time to time, this “Agreement”) by FIFTH THIRD BANK, an Ohio banking corporation (the “Bank”), and FIFTH THIRD
HOLDINGS, LLC, a Delaware limited liability company (“FTH LLC”). 
 WITNESSETH: 

WHEREAS, FTH LLC desires to purchase from the Bank a portfolio of motor vehicle receivables, including motor vehicle
retail installment sale contracts and/or installment loans that are secured by new and used automobiles, light-duty trucks, vans and other motor vehicles; and 
 WHEREAS, the Bank is willing to sell such portfolio of motor vehicle receivables and related property to FTH LLC on the terms and conditions set forth in this Agreement. 

NOW, THEREFORE, in consideration of the premises and the mutual agreements set forth herein, the parties hereto agree as
follows: 
 ARTICLE I 
 DEFINITIONS AND USAGE 
 SECTION 1.1 Definitions. Except as
otherwise defined herein or as the context may otherwise require, capitalized terms used but not otherwise defined herein are defined in Appendix A to the Sale Agreement dated as of the date hereof (as from time to time amended,
supplemented or otherwise modified and in effect, the “Sale Agreement”) between Fifth Third Auto Trust 2013-1 and Fifth Third Holdings Funding, LLC, as seller, which contains rules as to usage that are applicable herein. 

SECTION 1.2 Other Interpretive Provisions. Other Interpretive Provisions. For purposes of this Agreement,
unless the context otherwise requires: (a) accounting terms not otherwise defined in this Agreement, and accounting terms partly defined in this Agreement to the extent not defined, shall have the respective meanings given to them under GAAP
(provided, that, to the extent that the definitions in this Agreement and GAAP conflict, the definitions in this Agreement shall control); (b) terms defined in Article 9 of the UCC as in effect in the relevant jurisdiction and not
otherwise defined in this Agreement are used as defined in that Article; (c) the words “hereof,” “herein” and “hereunder” and words of similar import refer to this Agreement as a whole and not to any particular
provision of this Agreement; (d) references to any Article, Section, Schedule, Appendix or Exhibit are references to Articles, Sections, Schedules, Appendices and Exhibits in or to this Agreement and references to any paragraph, subsection,
clause or other subdivision within any Section or definition refer to such paragraph, subsection, clause or other subdivision of such Section or definition; (e) the term “including” and all variations thereof means “including
without limitation”; (f) except as otherwise expressly provided herein, references to any law or regulation refer to that law or regulation as amended from time to time and include any successor law or regulation; (g) references to
any Person include that Person’s successors and assigns and (h) headings are for purposes of reference only and shall not otherwise affect the meaning or interpretation of any provision hereof. 

  

					
		  		  	 Receivables Sale Agreement

(2013-1)

 ARTICLE II 
 PURCHASE 
 SECTION 2.1 Agreement to Sell and Contribute on the
Closing Date. On the terms and subject to the conditions set forth in this Agreement, the Bank does hereby transfer, assign, set over, sell, contribute and otherwise convey to FTH LLC without recourse (subject to the obligations herein) on the
Closing Date all of its right, title, interest, claims and demands of the Bank in, to and under the Receivables described on Schedule III hereto, the Collections after the Cut-Off Date, the Receivable Files and the Related Security relating
thereto, whether now owned or hereafter acquired, as evidenced by an assignment in the form of Exhibit A (“Assignment”) delivered on the Closing Date (the “Bank Transferred Assets”). The sale, transfer, assignment,
contribution and conveyance made hereunder does not constitute and is not intended to result in an assumption by FTH LLC of any obligation of the Bank or the Originator to the Obligors, the Dealers, insurers or any other Person in connection with
the Receivables or the other assets and properties conveyed hereunder or any agreement, document or instrument related thereto. 
 SECTION 2.2 Consideration and Payment. In consideration of the transfer of the Bank Transferred Assets conveyed to FTH LLC on the Closing Date, FTH LLC shall pay in cash to the Bank on such date an
amount equal to the estimated fair market value of the Bank Transferred Assets on the Closing Date. 
 ARTICLE III 

REPRESENTATIONS, WARRANTIES AND COVENANTS 
 SECTION 3.1 Representations and Warranties of the Bank. The Bank makes the following representations and warranties as of the Closing Date on which FTH LLC will be deemed to have relied in
acquiring the Bank Transferred Assets. The representations and warranties will survive the conveyance of the Bank Transferred Assets to FTH LLC pursuant to this Agreement, the conveyance of the Bank Transferred Assets by FTH LLC to the Depositor
pursuant to the Purchase Agreement, the conveyance of the Bank Transferred Assets by the Depositor to the Issuer pursuant to the Sale Agreement and the Grant thereof by the Issuer to the Indenture Trustee pursuant to the Indenture: 

(a) Existence and Power. The Bank is a banking corporation validly existing and in good standing under the laws of
its state of organization and has, in all material respects, all power and authority to carry on its business as it is now conducted. The Bank has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would
materially and adversely affect the ability of the Bank to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Bank Transferred Assets. 

(b) Authorization and No Contravention. The execution, delivery and performance by the Bank of the Transaction
Documents to which it is a party (i) have been duly authorized by all necessary action on the part of the Bank and (ii) do not contravene or constitute a default under (A) any applicable law, rule or regulation, (B) its
organizational documents or (C) any 

  

					
		 	-2-	  	 Receivables Sale Agreement

(2013-1)

 
material agreement, contract, order or other instrument to which it is a party or its property is subject (other than violations which do not affect the legality, validity or enforceability of
any of such agreements and which, individually or in the aggregate, would not materially and adversely affect the transactions contemplated by, or the Bank’s ability to perform its obligations under, the Transaction Documents). 

(c) No Consent Required. No approval or authorization by, or filing with, any Governmental Authority is required
in connection with the execution, delivery and performance by the Bank of any Transaction Document other than (i) UCC filings, (ii) approvals and authorizations that have previously been obtained and filings that have previously been made
and (iii) approvals, authorizations or filings which, if not obtained or made, would not have a material adverse effect on the enforceability or collectibility of the Receivables or any other part of the Bank Transferred Assets or would not
materially and adversely affect the ability of the Bank to perform its obligations under the Transaction Documents. 
 (d) Binding Effect. Each Transaction Document to which the Bank is a party constitutes the legal, valid and binding obligation of the Bank enforceable against the Bank in accordance with its terms,
except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other similar laws affecting the enforcement of creditors’ rights generally and, if applicable, the
rights of creditors of corporations from time to time in effect or by general principles of equity. 
 (e) No
Proceedings. There are no actions, suits or Proceedings pending or, to the knowledge of the Bank, threatened against the Bank before or by any Governmental Authority that (i) assert the invalidity or unenforceability of this Agreement or
any of the other Transaction Documents, (ii) seek to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the other Transaction Documents, (iii) seek any determination or
ruling that would materially and adversely affect the performance by the Bank of its obligations under this Agreement or any of the other Transaction Documents or the collectibility or enforceability of the Receivables, or (iv) relate to the
Bank that would materially and adversely affect the federal or Applicable Tax State income, excise, franchise or similar tax attributes of the Notes. 
 (f) Lien Filings. The Bank is not aware of any material judgment, ERISA or tax lien filings against the Bank. 

SECTION 3.2 Representations and Warranties of the Bank as to each Receivable. The Bank hereby makes the
representations and warranties set forth on Schedule I as to the Receivables sold, contributed, transferred, assigned, set over and otherwise conveyed to FTH LLC under this Agreement on which such representations and warranties FTH LLC
relies in acquiring the Receivables. Such representations and warranties shall survive the sale of the Receivables to the Seller under the Purchase Agreement, the sale of the Receivables by the Seller to the Issuer under the Sale Agreement, and the
Grant of the Receivables by the Issuer to the Indenture Trustee pursuant to the Indenture. Notwithstanding any statement to the contrary contained herein or in any other Transaction Document, the Bank shall not be required to notify any insurer with
respect to any Insurance Policy obtained by an Obligor or to notify any Dealer about any aspect of the transaction contemplated by the Transaction Documents. 

  

					
		 	-3-	  	 Receivables Sale Agreement

(2013-1)

 SECTION 3.3 Repurchase upon Breach. Upon discovery by or notice to
FTH LLC or the Bank of a breach of any of the representations and warranties set forth in Section 3.2 at the time such representations and warranties were made which materially and adversely affects the interests of the Issuer or the
Noteholders, the party discovering such breach or receiving such notice shall give prompt written notice thereof to the other party; provided, that delivery of a Servicer’s Certificate which identifies the Receivables that are being or
have been repurchased shall be deemed to constitute prompt notice of such breach; provided, further, that the failure to give such notice shall not affect any obligation of the Bank hereunder. If the breach materially and adversely affects
the interests of the Issuer or the Noteholders, then the Bank shall either (a) correct or cure such breach or (b) repurchase such Receivable from FTH LLC, in either case on or before the Payment Date following the end of the Collection
Period which includes the 60th day (or, if the Bank elects, an earlier date) after the date that the Bank became aware or was notified of such breach. Any such breach or failure will be deemed not to have a material and adverse effect if such breach
or failure does not affect the ability of FTH LLC (or its assignee) to receive and retain timely payment in full on such Receivable. Any such purchase by the Bank shall be at a price equal to the Repurchase Price. In consideration for such
repurchase, the Bank shall make (or shall cause to be made) a payment to FTH LLC equal to the Repurchase Price by depositing such amount into the Collection Account prior to 11:00 a.m., New York City time on the date of such repurchase, if such
repurchase date is not a Payment Date or, if such repurchase date is a Payment Date, then prior to the close of business on the Business Day prior to such repurchase date. Upon payment of such Repurchase Price by the Bank, FTH LLC shall release and
shall execute and deliver such instruments of release, transfer or assignment, in each case without recourse or representation, as may be reasonably requested by the Bank to evidence such release, transfer or assignment or more effectively vest in
the Bank or its designee any Receivable and the related Bank Transferred Assets repurchased pursuant hereto. It is understood and agreed that the obligation of the Bank to purchase any Receivable as described above shall constitute the sole remedy
respecting such breach available to FTH LLC. 
 SECTION 3.4 Protection of Title. 

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

  

					
		 	-4-	  	 Receivables Sale Agreement

(2013-1)

 
financing statements or continuation statements described in paragraph (a) above. The Bank will at all times maintain its “location” within the United States. 

(c) The Bank shall maintain (or shall cause the Servicer to maintain) its computer systems so that, from time to time
after the conveyance under this Agreement of the Receivables, the master computer records (including any backup archives) that refer to a Receivable shall indicate clearly the interest of FTH LLC (or any subsequent assignee of FTH LLC) in such
Receivable and that such Receivable is owned by such Person. Indication of such Person’s interest in a Receivable shall not be deleted from or modified on such computer systems until, and only until, the related Receivable shall have been paid
in full or repurchased. 
 (d) If at any time the Bank shall propose to sell, grant a security interest in or
otherwise transfer any interest in motor vehicle receivables to any prospective purchaser, lender or other transferee, the Bank shall give to such prospective purchaser, lender or other transferee computer tapes, records or printouts (including any
restored from backup archives) that, if they shall refer in any manner whatsoever to any Receivable, shall indicate clearly that such Receivable has been sold and is owned by FTH LLC (or any subsequent assignee of FTH LLC). 

SECTION 3.5 Other Liens or Interests. Except for the conveyances and grants of security interests pursuant to this
Agreement and the other Transaction Documents, the Bank shall not sell, pledge, assign or transfer the Receivables or other property transferred to FTH LLC to any other Person, or grant, create, incur, assume or suffer to exist any Lien (other
than Permitted Liens) on any interest therein, and the Bank shall defend the right, title and interest of FTH LLC in, to and under such Receivables or other property transferred to FTH LLC against all claims of third parties claiming through or
under the Bank. 
 SECTION 3.6 Perfection Representations, Warranties and Covenants. The Bank hereby
makes the perfection representations, warranties and covenants set forth on Schedule II hereto to FTH LLC and FTH LLC shall be deemed to have relied on such representations, warranties and covenants in acquiring the Bank Transferred Assets.

 SECTION 3.7 Official Record. So long as the Notes remain outstanding, this Agreement shall be treated
as an official record of the Bank within the meaning of Section 13(e) of the Federal Deposit Insurance Act (12 U.S.C. Section 1823(e)). 
 SECTION 3.8 Compliance with the FDIC Rule. The Bank (i) shall perform the covenants set forth in Article XII of the Indenture applicable to it and (ii) shall facilitate compliance
with Article XII of the Indenture by the Fifth Third Parties. 
 SECTION 3.9 Merger or Consolidation
of, or Assumption of the Obligations of, the Bank. Any Person (i) into which the Bank may be merged or converted or with which it may be consolidated, to which it may sell or transfer its business and assets as a whole or substantially as a
whole, (ii) resulting from any merger, sale, transfer conversion, or consolidation to which the Bank shall be a party, (iii) succeeding to the business of the Bank, or (iv) more than 50% of the voting stock or voting power and 50% or
more of the economic equity of which is owned directly or indirectly by Fifth Third Bancorp, which Person in any of the foregoing cases executes an agreement of assumption to perform every obligation of the Bank under this

  

					
		 	-5-	  	 Receivables Sale Agreement

(2013-1)

 
Agreement, will be the successor to the Bank under this Agreement without the execution or filing of any document or any further act on the part of any of the parties to this Agreement anything
herein to the contrary notwithstanding. Notwithstanding the foregoing, if the Bank enters into any of the foregoing transactions and is not the surviving entity, the Bank will deliver to the Indenture Trustee an Opinion of Counsel either
(A) stating that, in the opinion of such counsel, all financing statements and continuation statements and amendments thereto have been executed and filed that are necessary to preserve and protect the interest of the Issuer and the Indenture
Trustee, respectively, in the Receivables, or (B) stating that, in the opinion of such counsel, no such action is necessary to preserve and protect such interest. 

SECTION 3.10 Bank May Own Notes. The Bank, and any Affiliate of the Bank, 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 Bank or an Affiliate thereof, except as otherwise expressly provided herein or in the other Transaction Documents. Except as set forth herein or
in the other Transaction Documents, Notes so owned by the Bank or any such Affiliate will have an equal and proportionate benefit under the provisions of this Agreement and the other Transaction Documents, without preference, priority, or
distinction as among all of the Notes. Unless all Notes are owned by the Issuer, the Bank, the Servicer, the Administrator or any of their respective Affiliates, any Notes owned by the Issuer, the Bank, the Servicer, the Administrator or any of
their respective Affiliates shall be disregarded with respect to the determination of any request, demand, authorization, direction, notice, consent, vote or waiver hereunder or under any other Transaction Document. 

ARTICLE IV 

MISCELLANEOUS 
 SECTION 4.1 Transfers Intended as Sale; Security Interest. 

(a) Each of the parties hereto expressly intends and agrees that the transfers contemplated and effected under this
Agreement are complete and absolute sales, transfers, assignments and contributions rather than pledges or assignments of only a security interest and shall be given effect as such for all purposes. It is further the intention of the parties hereto
that the Receivables and related Bank Transferred Assets shall not be part of the Bank’s estate in the event of a bankruptcy or insolvency of the Bank. The sales and transfers by the Bank of the Receivables and related the Bank Transferred
Assets hereunder are and shall be without recourse to, or representation or warranty (express or implied) by, the Bank, except as otherwise specifically provided herein. The limited rights of recourse specified herein against the Bank are intended
to provide a remedy for breach of representations and warranties relating to the condition of the property sold, rather than to the collectibility of the Receivables. 

(b) Notwithstanding the foregoing, in the event that the Receivables and other Bank Transferred Assets are held to be
property of the Bank, or if for any reason this Agreement is held or deemed to create indebtedness or a security interest in the Receivables and other Bank Transferred Assets, then it is intended that: 

  

					
		 	-6-	  	 Receivables Sale Agreement

(2013-1)

 (i) This Agreement shall be deemed to be a security
agreement within the meaning of Articles 8 and 9 of the New York UCC and the UCC of any other applicable jurisdiction; 
 (ii) The conveyance provided for in Section 2.1 shall be deemed to be a grant by the Bank of, and the Bank hereby grants to FTH LLC, a security interest in all of its right (including the
power to convey title thereto), title and interest, whether now owned or hereafter acquired, in and to the Receivables and other Bank Transferred Assets, to secure such indebtedness and the performance of the obligations of the Bank hereunder;

 (iii) The possession by FTH LLC or its agent of the Receivable Files and any other property
that constitute instruments, money, negotiable documents or chattel paper shall be deemed to be “possession by the secured party” or possession by FTH LLC or a Person designated by FTH LLC, for purposes of perfecting the security interest
pursuant to the New York UCC and the UCC of any other applicable jurisdiction; and 
 (iv)
Notifications to Persons holding such property, and acknowledgments, receipts or confirmations from Persons holding such property, shall be deemed to be notifications to, or acknowledgments, receipts or confirmations from, bailees or agents (as
applicable) of FTH LLC for the purpose of perfecting such security interest under applicable law. 
 SECTION 4.2
Notices, Etc. All demands, notices and communications hereunder shall be in writing and shall be delivered or mailed by registered or certified first-class United States mail, postage prepaid, hand
delivery, prepaid courier service, by facsimile or, if so provided on Schedule II to the Sale Agreement, by electronic transmission, and addressed in each case as specified on Schedule II to the Sale Agreement, or at such other address
as shall be designated by any of the specified addressees in a written notice to the other parties hereto. Any notice required or permitted to be mailed to a Noteholder shall be given by first class mail, postage prepaid, at the address of such
Noteholder as shown in the Note Register. Delivery shall occur only upon receipt or reported tender of such communication by an officer of the recipient entitled to receive such notices located at the address of such recipient for notices hereunder;
provided, however, that any notice to a Noteholder mailed within the time and manner prescribed in this Agreement shall be conclusively presumed to have been duly given, whether or not the Noteholder shall receive such notice.

 SECTION 4.3 Choice of Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
INTERNAL, SUBSTANTIVE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO CONFLICTS OF LAW, OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE
PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 SECTION 4.4 Headings. The
section headings hereof have been inserted for convenience only and shall not be construed to affect the meaning, construction or effect of this Agreement. 

  

					
		 	-7-	  	 Receivables Sale Agreement

(2013-1)

 SECTION 4.5 Counterparts. This Agreement may be executed in any
number of counterparts, each of which so executed shall be deemed to be an original, regardless of whether delivered in physical or electronic form, but all of such counterparts shall together constitute but one and the same instrument. 

SECTION 4.6 Amendment. 
 (a) Any term or provision of this Agreement may be amended by the Bank and FTH LLC without the consent of the Indenture Trustee, the Issuer, any Noteholder, the Owner Trustee or any other Person subject
to the satisfaction of one of the following conditions: 
 (i) The Bank or FTH LLC delivers an
Opinion of Counsel or an Officer’s Certificate to the Indenture Trustee to the effect that such amendment will not materially and adversely affect the interests of the Noteholders; or 

(ii) The Rating Agency Condition is satisfied with respect to such amendment and the Bank or FTH LLC
notifies the Indenture Trustee in writing that the Rating Agency Condition is satisfied with respect to such amendment. 
 (b) This Agreement may also be amended from time to time by the Bank and FTH LLC, with the consent of (i) the Holders of Notes evidencing not less than a majority of the Outstanding Note Balance and
(ii) the Majority Certificateholders, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders or the
Certificateholders. It will not be necessary for the consent of Noteholders or Certificateholders to approve the particular form of any proposed amendment or consent, but it will be sufficient if such consent approves the substance thereof. The
manner of obtaining such consents (and any other consents of Noteholders and Certificateholders provided for in this Agreement) and of evidencing the authorization of the execution thereof by Noteholders and Certificateholders will be subject to
such reasonable requirements as the Indenture Trustee and Owner Trustee may prescribe, including the establishment of record dates pursuant to the Note Depository Agreement. 

(c) Prior to the execution of any amendment pursuant to this Section 4.6, the Bank or FTH LLC shall provide
written notification of the substance of such amendment to each Rating Agency; and promptly after the execution of any such amendment, the Bank or FTH LLC shall furnish a copy of such amendment to each Rating Agency, the Issuer and the Indenture
Trustee; provided, that no amendment pursuant to this Section 4.6 shall be effective which materially and adversely affects the rights, protections or duties of the Indenture Trustee or the Owner Trustee without the prior written
consent of such Person. 
 (d) Prior to the execution of any amendment to this Agreement, the Owner Trustee and
the Indenture Trustee shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and an Officer’s Certificate from the Depositor or the
Administrator that all conditions precedent to the execution and delivery of such amendment have been satisfied. The Owner Trustee and the Indenture Trustee may, but shall not be obligated to, enter into any such amendment which materially and
adversely affects the Owner Trustee’s or the Indenture 

  

					
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(2013-1)

 
Trustee’s, as applicable, own rights, privileges, indemnities, duties or obligations under this Agreement, the Transaction Documents or otherwise. 

(e) Notwithstanding subsection (a) of this Section 4.6, this Agreement may only be amended by the Bank
and FTH LLC if (i) the Majority Certificateholders consent to such amendment or (ii) such amendment shall not, as evidenced by an Officer’s Certificate of the Bank or FTH LLC or an Opinion of Counsel delivered to the Indenture Trustee
and the Owner Trustee, materially and adversely affect the interests of the Certificateholders. 
 SECTION 4.7
Waivers. No failure or delay on the part of FTH LLC, the Servicer, the Bank, the Issuer or the Indenture Trustee in exercising any power or right hereunder (to the extent such Person has any power or right hereunder) shall operate as a waiver
thereof, nor shall any single or partial exercise of any such power or right preclude any other or further exercise thereof or the exercise of any other power or right. No notice to or demand on FTH LLC or the Bank in any case shall entitle it to
any notice or demand in similar or other circumstances. No waiver or approval by either party under this Agreement shall, except as may otherwise be stated in such waiver or approval, be applicable to subsequent transactions. No waiver or approval
under this Agreement shall require any similar or dissimilar waiver or approval thereafter to be granted hereunder. 
 SECTION 4.8 Entire Agreement. The Transaction Documents contain a final and complete integration of all prior expressions by the parties hereto with respect to the subject matter thereof and shall
constitute the entire agreement among the parties hereto with respect to the subject matter thereof, superseding all prior oral or written understandings. There are no unwritten agreements among the parties. 

SECTION 4.9 Severability of Provisions. If any one or more of the covenants, agreements, provisions or terms of
this Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Agreement and shall in no way affect
the validity or enforceability of the other provisions of this Agreement. 
 SECTION 4.10 Binding Effect.
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with
its terms, and shall remain in full force and effect until such time as the parties hereto shall agree. 

SECTION 4.11 Acknowledgment and Agreement. By execution below, the Bank expressly acknowledges and consents to the
sale of the Bank Transferred Assets and the assignment of all rights and obligations of the Bank related thereto by FTH LLC to the Depositor pursuant to the Purchase Agreement and by the Depositor to the Issuer pursuant to the Sale Agreement and the
Grant of a security interest in the Receivables and the other Bank Transferred Assets by the Issuer to the Indenture Trustee pursuant to the Indenture for the benefit of the Noteholders. In addition, the Bank hereby acknowledges and agrees that for
so long as the Notes are outstanding, the Indenture Trustee will have the right to exercise all powers, privileges and 

  

					
		 	-9-	  	 Receivables Sale Agreement

(2013-1)

 
claims of FTH LLC under this Agreement in the event that FTH LLC shall fail to exercise the same. 
 SECTION 4.12 Cumulative Remedies. The remedies herein provided are cumulative and not exclusive of any remedies provided by law. 

SECTION 4.13 Nonpetition Covenant. Each party hereto agrees that, prior to the date which is one year and one day
after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by any Bankruptcy Remote Party (i) such party hereto shall not authorize any Bankruptcy Remote Party to commence a voluntary winding-up
or other voluntary case or other Proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect in any
jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any substantial part of its property or to consent to any such relief
or to the appointment of or taking possession by any such official in an involuntary case or other Proceeding commenced against such Bankruptcy Remote Party, or to make a general assignment for the benefit of its creditors generally, any party
hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence or join with any other Person in commencing any Proceeding against such Bankruptcy Remote Party under any bankruptcy, reorganization,
liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. This Section shall survive the termination of this Agreement. 
 SECTION 4.14 Submission to Jurisdiction; Waiver of Jury Trial. Each of the parties hereto hereby irrevocably and unconditionally: 

(a) submits for itself and its property in any legal action or Proceeding relating to this Agreement or any documents
executed and delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts of the State of New York, the courts of the United States of America for the
Southern District of New York and appellate courts from any thereof; 
 (b) consents that any such action or
Proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue of such action or Proceeding in any such court or that such action or Proceeding was brought in an inconvenient court and agrees not to
plead or claim the same; 
 (c) agrees that service of process in any such action or Proceeding may be effected
by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Person at its address determined in accordance with Section 4.2 of this Agreement; 

(d) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law
or shall limit the right to sue in any other jurisdiction; and 
 (e) to the extent permitted by applicable
law, each party hereto irrevocably waives all right of trial by jury in any action, Proceeding or counterclaim based on, or 

  

					
		 	-10-	  	 Receivables Sale Agreement

(2013-1)

 
arising out of, under or in connection with this Agreement, any other Transaction Document, or any matter arising hereunder or thereunder. 

SECTION 4.15 Not Applicable to the Bank in Other Capacities. Nothing in this Agreement shall affect any obligation
the Bank may have in any other capacity. 
 [Remainder of Page Intentionally Left Blank] 

  

					
		 	-11-	  	 Receivables Sale Agreement

(2013-1)

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

			
	FIFTH THIRD BANK
		
	 By:
	 	 /s/ Nathan
Steuber

 
			
	 Name:
	 	 Nathan Steuber

	 Title:
	 	 VP

	
	FIFTH THIRD HOLDINGS, LLC

 
			
		
	 By:
	 	 /s/ Erica
Kojetin

 
			
	 Name:
	 	 Erica Kojetin

	 Title:
	 	 Assistant Secretary

  

					
		 	S-1	  	 Receivables Sale Agreement

(2013-1)

 EXHIBIT A 
 FORM OF 
 ASSIGNMENT PURSUANT TO RECEIVABLES SALE AGREEMENT

 August 21, 2013 
 For value received, in accordance with the Receivables Sale Agreement, dated as of August 21, 2013 (the “Agreement”), between Fifth Third Bank (the “Bank”), and
Fifth Third Holdings, LLC, a Delaware limited liability company (“FTH LLC”), on the terms and subject to the conditions set forth in the Agreement, the Bank does hereby transfer, assign, set over, sell, contribute and otherwise
convey to FTH LLC without recourse (subject to the obligations in the Agreement) on the Closing Date, all of its right, title, interest, claims and demands in, to and under the Receivables set forth on the schedule of Receivables delivered by the
Bank to FTH LLC on the date hereof, the Collections after the Cut-Off Date, the Receivable Files and the Related Security relating thereto. 
 The foregoing sale does not constitute and is not intended to result in an assumption by FTH LLC of any obligation of the undersigned or the Originator to the Obligors, the Dealers, insurers or any other
Person in connection with the Receivables, or the other assets and properties conveyed hereunder or any agreement, document or instrument related thereto. 
 This assignment is made pursuant to and upon the representations, warranties and agreements on the part of the undersigned contained in the Agreement and is governed by the Agreement. 

Capitalized terms used herein and not otherwise defined shall have the respective meanings assigned to them in the
Agreement or, if not defined in the Agreement, in Appendix A to the Sale Agreement, dated as of August 21, 2013, between Fifth Third Auto Trust 2013-1 and Fifth Third Holdings Funding, LLC. 

[Remainder of page intentionally left blank] 

  

					
		 	A-1	  	 Receivables Sale Agreement

(2013-1)

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

			
	FIFTH THIRD BANK
		
	 By:
	 	  

			
	 Name:
	 	
	 Title:
	 	

  

					
		 	A-2	  	 Receivables Sale Agreement

(2013-1)

 SCHEDULE I 
 REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE RECEIVABLES DESCRIBED ON SCHEDULE III AND TRANSFERRED BY OHIO BANK TO FTH LLC 

 

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

  

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

 

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

 

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

  

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

  

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

 

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

 

	 	(vii)	 was originated in the United States. 

  

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

  

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

 

	 	(ii)	 each Receivable has a Contract Rate of no less than 0.00% and not more than 15.99%; 

  

					
		 	Schedule I-1	  	 Receivables Sale Agreement

(2013-1)

	 	(iii)	 each Receivable had an original term to maturity of not more than 75 months and not less than 18 months and each Receivable has a remaining term to
maturity, as of the Cut-Off Date, of not more than 73 months and not less than 3 months; 

  

	 	(iv)	 each Receivable has an Outstanding Principal Balance as of the Cut-Off Date of at least $1,000; 

 

	 	(v)	 no Receivable has a scheduled maturity date later than July 31, 2019; 

 

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

 

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

  

	 	(viii)	 each Receivable is a Simple Interest Receivable; 

  

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

  

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

  

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

  

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

 

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

  

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

  

					
		 	Schedule I-2	  	 Receivables Sale Agreement

(2013-1)

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

 

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

  

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

  

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

  

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

  

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

  

					
		 	Schedule I-3	  	 Receivables Sale Agreement

(2013-1)

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

  

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

 

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

  

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

  

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

 

	(r)	 Pennsylvania Receivables. If such Receivable had an Obligor with a mailing address in Pennsylvania at origination, then such Receivable is
not an “installment sale contract” within the meaning of the Pennsylvania Motor Vehicles Sales Finance Act, 69 P.S. §601 et. seq. 

  

	(t)	 Electronic Chattel Paper. As of the Cut-Off Date, such Receivable did not cause the aggregate Outstanding Principal Balance of all
Receivables that constitute “electronic chattel paper” (as defined in the UCC) to exceed 3.64% of the Net Pool Balance as of the Cut-Off Date. 

 

	(u)	 Prepayments. The Receivable requires the Obligor thereunder to pay, upon any prepayment of such Receivable, an amount that is not less than
the outstanding principal balance of such Receivable plus interest accrued at the applicable Contract Rate to the date of the prepayment. 

  

					
		 	Schedule I-4	  	 Receivables Sale Agreement

(2013-1)

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

General 
 1. This Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Receivables and the other Bank Transferred Assets in favor of FTH LLC, which security
interest is prior to all other Liens, and is enforceable as such against creditors of and purchasers from the Bank. 
 2. The Receivables constitute “chattel paper” (including “electronic chattel paper” or “tangible chattel paper”) “accounts,” “instruments”,
“promissory notes”, “payment intangibles” or “general intangibles,” within the meaning of the applicable UCC. 
 3. Immediately prior to the sale, transfer, contribution, assignment and/or conveyance of a Receivable, each Receivable is secured by a first priority validly perfected and enforceable security interest
in the related Financed Vehicle in favor of the Bank, as secured party, or all necessary actions with respect to such Receivable have been taken or will be taken to perfect a first priority security interest in the related Financed Vehicle in favor
of the Bank, as secured party, subject, as to enforcement, to applicable bankruptcy, insolvency, reorganization, liquidation or other similar laws and equitable principles relating to or affecting the enforcement of creditors’ rights
generally. 
 Creation 
 4. Immediately prior to the sale, transfer, contribution, assignment and/or conveyance of a Receivable by the Bank to FTH LLC, the Bank owned and had good and marketable title to such Receivable free and
clear of any Lien (other than any Liens in favor of FTH LLC) and immediately after the sale, transfer, assignment and conveyance of such Receivable to FTH LLC, FTH LLC will have good and marketable title to such Receivable free and clear of any
Lien. 
 5. The Bank has received all consents and approvals to the sale of the Receivables hereunder to FTH LLC
required by the terms of the Receivables that constitute instruments. 

  

					
		 	Schedule II-1	  	 Receivables Sale Agreement

(2013-1)

 Perfection 

6. The Bank has submitted or will have caused to be submitted, on the effective date of this Agreement, the filing of all
appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the sale of the Receivables from the Bank to FTH LLC and the security interest in the Receivables granted to FTH
LLC hereunder; and the Servicer, in its capacity as custodian, has in its possession the original copies of such instruments or tangible chattel paper that constitute or evidence the Receivables, and all financing statements referred to in this
paragraph contain a statement that: “A purchase of or security interest in any collateral described in this financing statement will violate the rights of the Secured Party/Purchaser.” 

7. With respect to Receivables that constitute an instrument or tangible chattel paper, either: 

 

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

  

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

 

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

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

 9. The Bank is not aware of any material judgment, ERISA or tax lien filings against the Bank. 

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

  

					
		 	Schedule II-2	  	 Receivables Sale Agreement

(2013-1)

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

Survival of Perfection Representations 

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

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

  

					
		 	Schedule II-3	  	 Receivables Sale Agreement

(2013-1)

 SCHEDULE III 
 SCHEDULE OF BANK TRANSFERRED ASSETS 
 [On File With the Servicer]

  

					
		 	Schedule III-1	  	 Receivables Sale Agreement

(2013-1)

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