Document:

Receivable Financial Agreement

 EXHIBIT 10.121 
  
 EXECUTION COPY 
  
 RECEIVABLES FINANCING AGREEMENT 
  
 dated as of September 23, 2004 
  
 among 
  
 UPFC FUNDING CORP., 
 as Borrower 
  
 UNITED AUTO CREDIT CORPORATION, 
 individually and as Seller and Servicer, 
  
 UNITED PANAM FINANCIAL CORP., 
 as Guarantor,

  
 THE LENDERS PARTIES HERETO, 
  
 DEUTSCHE BANK AG, NEW YORK BRANCH, 
 as Agent, 
  
 THE OTHER AGENTS PARTIES HERETO, 
  
 CENTERONE FINANCIAL SERVICES LLC, 
 as Backup Servicer 
  
 DEUTSCHE BANK TRUST COMPANY AMERICAS, 
 as Custodian 
  
 and 
  
 DEUTSCHE BANK TRUST COMPANY AMERICAS, 
 as Administrative/Collateral Agent 
  

  
 Table of Contents

  

							
	 	 	 	 	 	  	Page

	 ARTICLE I
	  	2
	 	 	 SECTION 1.1.
	 	 Defined Terms
	  	2
	 	 	 SECTION 1.2.
	 	 Other Definitional Provisions
	  	23
	 ARTICLE II
	  	23
	 	 	 SECTION 2.1.
	 	 Facility
	  	23
	 	 	 SECTION 2.2.
	 	 Advance Procedures
	  	24
	 	 	 SECTION 2.3.
	 	 Funding
	  	25
	 	 	 SECTION 2.4.
	 	 Notes
	  	26
	 	 	 SECTION 2.5.
	 	 Reductions of Commitments
	  	26
	 	 	 SECTION 2.6.
	 	 Repayments and Prepayments
	  	27
	 	 	 SECTION 2.7.
	 	 Extension of Facility
	  	27
	 ARTICLE III
	  	28
	 	 	 SECTION 3.1.
	 	 Yield
	  	28
	 	 	 SECTION 3.2.
	 	 Yield Payment Dates
	  	28
	 	 	 SECTION 3.3.
	 	 Yield
	  	28
	 	 	 SECTION 3.4.
	 	 Fees
	  	29
	 	 	 SECTION 3.5.
	 	 Computation of Yield and Fees
	  	29
	 ARTICLE IV
	  	30
	 	 	 SECTION 4.1.
	 	 Guaranty of Payment and Performance
	  	30
	 	 	 SECTION 4.2.
	 	 Agreement to Pay Expenses
	  	30
	 	 	 SECTION 4.3.
	 	 Unenforceability of Guaranteed Obligations Against UACC, the Seller or the Servicer
	  	30
	 	 	 SECTION 4.4.
	 	 Waiver of Subrogation
	  	31
	 	 	 SECTION 4.5.
	 	 Subordination
	  	31
	 	 	 SECTION 4.6.
	 	 Waivers by Guarantor
	  	31
	 ARTICLE V
	  	32
	 	 	 SECTION 5.1.
	 	 Making of Payments; Taxes
	  	32
	 	 	 SECTION 5.2.
	 	 Application of Certain Payments
	  	34
	 	 	 SECTION 5.3.
	 	 Due Date Extension
	  	34
	 ARTICLE VI
	  	34
	 	 	 SECTION 6.1.
	 	 Increased Costs
	  	34
	 	 	 SECTION 6.2.
	 	 Funding Losses
	  	35
	 	 	 SECTION 6.3.
	 	 Replacement of Affected Person
	  	36
	 ARTICLE VII
	  	36
	 	 	 SECTION 7.1.
	 	 Effectiveness
	  	36
	 ARTICLE VIII
	  	40
	 	 	 SECTION 8.1.
	 	 Duties of the Servicer
	  	40
	 	 	 SECTION 8.2.
	 	 Representations and Warranties of the Servicer
	  	40

  

 i 

  
 Table of Contents

 (continued) 
  

							
	 	 	 	 	 	  	Page

	 	 	 SECTION 8.3.
	 	 Covenants of the Servicer
	  	42
	 	 	 SECTION 8.4.
	 	 Servicing Fee; Payment of Certain Expenses by Servicer; Backup Servicer Fee
	  	42
	 	 	 SECTION 8.5.
	 	 Distribution Date Statement
	  	42
	 	 	 SECTION 8.6.
	 	 Annual Statement as to Compliance; Notice of Servicer Default
	  	43
	 	 	 SECTION 8.7.
	 	 Annual Independent Accountants’ Report
	  	43
	 	 	 SECTION 8.8.
	 	 Access to Certain Documentation and Information Regarding Contracts
	  	44
	 	 	 SECTION 8.9.
	 	 Certain Duties of Backup Servicer
	  	45
	 	 	 SECTION 8.10.
	 	 Consequences of a Servicer Default
	  	46
	 	 	 SECTION 8.11.
	 	 Appointment of Backup Servicer as Successor Servicer
	  	46
	 ARTICLE IX
	  	48
	 	 	 SECTION 9.1.
	 	 Borrower Accounts
	  	48
	 	 	 SECTION 9.2.
	 	 Servicer Reimbursements
	  	49
	 	 	 SECTION 9.3.
	 	 Application of Collections
	  	49
	 	 	 SECTION 9.4.
	 	 Additional Deposits
	  	49
	 	 	 SECTION 9.5.
	 	 Distributions
	  	49
	 	 	 SECTION 9.6.
	 	 Net Deposits
	  	52
	 	 	 SECTION 9.7.
	 	 The Reserve Account
	  	52
	 ARTICLE X
	  	54
	 	 	 SECTION 10.1.
	 	 Organization and Good Standing
	  	54
	 	 	 SECTION 10.2.
	 	 Due Qualification
	  	54
	 	 	 SECTION 10.3.
	 	 Power and Authority
	  	54
	 	 	 SECTION 10.4.
	 	 Security Interest; Binding Obligations
	  	54
	 	 	 SECTION 10.5.
	 	 No Violation
	  	55
	 	 	 SECTION 10.6.
	 	 No Proceedings
	  	55
	 	 	 SECTION 10.7.
	 	 No Consents
	  	55
	 	 	 SECTION 10.8.
	 	 Solvency
	  	55
	 	 	 SECTION 10.9.
	 	 Tax Treatment
	  	55
	 	 	 SECTION 10.10.
	 	 Compliance With Laws
	  	56
	 	 	 SECTION 10.11.
	 	 Taxes
	  	56
	 	 	 SECTION 10.12.
	 	 Certificates
	  	56
	 	 	 SECTION 10.13.
	 	 No Liens, Etc.
	  	56
	 	 	 SECTION 10.14.
	 	 Purchase and Sale
	  	56
	 	 	 SECTION 10.15.
	 	 Information True and Correct
	  	57
	 	 	 SECTION 10.16.
	 	 ERISA Compliance
	  	57
	 	 	 SECTION 10.17.
	 	 Financial or Other Condition
	  	57
	 	 	 SECTION 10.18.
	 	 Investment Company Status
	  	57
	 	 	 SECTION 10.19.
	 	 Eligible Contracts
	  	57
	 	 	 SECTION 10.20.
	 	 Use of Proceeds
	  	57

  

 ii 

  
 Table of Contents

 (continued) 
  

							
	 	 	 	 	 	  	Page

	 	 	 SECTION 10.21.
	 	 Separate Existence
	  	57
	 	 	 SECTION 10.22.
	 	 Investments
	  	58
	 	 	 SECTION 10.23.
	 	 Representation and Warranties True and Correct
	  	58
	 	 	 SECTION 10.24.
	 	 Transaction Documents
	  	58
	 	 	 SECTION 10.25.
	 	 Ownership of the Borrower
	  	58
	 ARTICLE XI
	  	58
	 	 	 SECTION 11.1.
	 	 Protection of Security Interest of the Secured Parties
	  	58
	 	 	 SECTION 11.2.
	 	 Other Liens or Interests
	  	59
	 	 	 SECTION 11.3.
	 	 Costs and Expenses
	  	60
	 	 	 SECTION 11.4.
	 	 Reporting Requirements
	  	60
	 	 	 SECTION 11.5.
	 	 Separate Existence
	  	61
	 	 	 SECTION 11.6.
	 	 Interest Rate Caps
	  	62
	 	 	 SECTION 11.7.
	 	 Tangible Net Worth
	  	65
	 	 	 SECTION 11.8.
	 	 Stock, Merger, Consolidation, Etc.
	  	65
	 	 	 SECTION 11.9.
	 	 Change in Name
	  	65
	 	 	 SECTION 11.10.
	 	 Indebtedness; Guarantees
	  	65
	 	 	 SECTION 11.11.
	 	 Limitation on Transactions with Affiliates
	  	65
	 	 	 SECTION 11.12.
	 	 Documents
	  	66
	 	 	 SECTION 11.13.
	 	 Preservation of Existence
	  	66
	 	 	 SECTION 11.14.
	 	 Keeping of Records and Books of Account
	  	66
	 	 	 SECTION 11.15.
	 	 Accounting Treatment
	  	66
	 	 	 SECTION 11.16.
	 	 Limitation on Investments
	  	66
	 	 	 SECTION 11.17.
	 	 Distributions
	  	67
	 	 	 SECTION 11.18.
	 	 Maintain Records of Transferred Contracts
	  	67
	 	 	 SECTION 11.19.
	 	 Performance of Borrower Assigned Agreements
	  	67
	 	 	 SECTION 11.20.
	 	 Notice of Material Adverse Claim
	  	67
	 	 	 SECTION 11.21.
	 	 Further Assurances; Financing Statements
	  	67
	 ARTICLE XII
	  	68
	 	 	 SECTION 12.1.
	 	 Liability of Servicer
	  	68
	 	 	 SECTION 12.2.
	 	 Merger or Consolidation of, or Assumption of the Obligations of, the Servicer or Backup Servicer
	  	68
	 	 	 SECTION 12.3.
	 	 Limitation on Liability of Backup Servicer
	  	69
	 	 	 SECTION 12.4.
	 	 Backup Servicer Not to Resign
	  	70
	 ARTICLE XIII
	  	70
	 	 	 SECTION 13.1.
	 	 Borrower’s Grant of Security Interest
	  	70
	 	 	 SECTION 13.2.
	 	 Delivery of Collateral
	  	72
	 	 	 SECTION 13.3.
	 	 Borrower Remains Liable
	  	72
	 	 	 SECTION 13.4.
	 	 Release of Borrower Collateral
	  	72
	 	 	 SECTION 13.5.
	 	 Expenses
	  	74

  

 iii 

  
 Table of Contents

 (continued) 
  

							
	 	 	 	 	 	  	Page

	 	 	 SECTION 13.6.
	 	 Representations And Warranties Of the Administrative/Collateral Agent
	  	74
	 	 	 SECTION 13.7.
	 	 Indemnity
	  	75
	 	 	 SECTION 13.8.
	 	 Certain Remedies
	  	75
	 	 	 SECTION 13.9.
	 	 Other Remedies
	  	77
	 	 	 SECTION 13.10.
	 	 Limitation on Duty of Administrative/Collateral Agent in Respect of Collateral; Indemnification
	  	77
	 ARTICLE XIV
	  	78
	 	 	 SECTION 14.1.
	 	 Facility Termination Events
	  	78
	 	 	 SECTION 14.2.
	 	 Effect of Facility Termination Event
	  	81
	 	 	 SECTION 14.3.
	 	 Rights Upon Termination Event
	  	81
	 ARTICLE XV
	  	81
	 	 	 SECTION 15.1.
	 	 Appointment
	  	81
	 	 	 SECTION 15.2.
	 	 Delegation of Duties
	  	82
	 	 	 SECTION 15.3.
	 	 Exculpatory Provisions
	  	82
	 	 	 SECTION 15.4.
	 	 Reliance by Agents
	  	82
	 	 	 SECTION 15.5.
	 	 Notices
	  	83
	 	 	 SECTION 15.6.
	 	 Non-Reliance on Agent
	  	83
	 	 	 SECTION 15.7.
	 	 Indemnification
	  	84
	 	 	 SECTION 15.8.
	 	 Successor Agent
	  	84
	 	 	 SECTION 15.9.
	 	 Agents in their Individual Capacity
	  	85
	 ARTICLE XVI
	  	86
	 	 	 SECTION 16.1.
	 	 Restrictions on Assignments
	  	86
	 	 	 SECTION 16.2.
	 	 Documentation
	  	86
	 	 	 SECTION 16.3.
	 	 Rights of Assignee
	  	86
	 	 	 SECTION 16.4.
	 	 Notice of Assignment
	  	86
	 	 	 SECTION 16.5.
	 	 Registration; Registration of Transfer and Exchange
	  	86
	 	 	 SECTION 16.6.
	 	 Mutilated, Destroyed, Lost and Stolen Notes
	  	88
	 	 	 SECTION 16.7.
	 	 Persons Deemed Owners
	  	88
	 	 	 SECTION 16.8.
	 	 Cancellation
	  	89
	 	 	 SECTION 16.9.
	 	 Participations; Pledge
	  	89
	 ARTICLE XVII
	  	89
	 	 	 SECTION 17.1.
	 	 General Indemnity
	  	89
	 	 	 SECTION 17.2.
	 	 Contribution
	  	91
	 ARTICLE XVIII
	  	91
	 	 	 SECTION 18.1.
	 	 No Waiver; Remedies
	  	91
	 	 	 SECTION 18.2.
	 	 Amendments, Waivers
	  	92
	 	 	 SECTION 18.3.
	 	 Notices, Etc.
	  	92
	 	 	 SECTION 18.4.
	 	 Costs, Expenses and Taxes
	  	93
	 	 	 SECTION 18.5.
	 	 Binding Effect; Survival
	  	93

  

 iv 

  
 Table of Contents

 (continued) 
  

							
	 	 	 	 	 	  	Page

	 	 	 SECTION 18.6.
	 	 Captions and Cross References
	  	94
	 	 	 SECTION 18.7.
	 	 Severability
	  	94
	 	 	 SECTION 18.8.
	 	 Governing Law
	  	94
	 	 	 SECTION 18.9.
	 	 Counterparts
	  	94
	 	 	 SECTION 18.10.
	 	 Waiver of Jury Trial
	  	94
	 	 	 SECTION 18.11.
	 	 No Proceedings
	  	95
	 	 	 SECTION 18.12.
	 	 Limited Recourse to the Lenders
	  	95
	 	 	 SECTION 18.13.
	 	 Custodian
	  	95
	 	 	 SECTION 18.14.
	 	 Entire Agreement
	  	96
	 	 	 SECTION 18.15.
	 	 Confidentiality
	  	96

  

  

			
	 EXHIBIT A
	  	Form of Advance Request
	 EXHIBIT B
	  	Form of Note
	 EXHIBIT C
	  	Form of Borrowing Base Confirmation
	 EXHIBIT D
	  	Form of Agreed Upon Procedures Letter

  

 v 

 RECEIVABLES FINANCING AGREEMENT 
  
 THIS RECEIVABLES FINANCING AGREEMENT is made and entered into as of September 23, 2004, among UPFC FUNDING CORP., a
California corporation (the “Borrower”), UNITED AUTO CREDIT CORPORATION, a California corporation, in its individual capacity (“UACC”) and as seller (in such capacity, the “Seller”) and as servicer
(in such capacity, the “Servicer”), UNITED PANAM FINANCIAL CORP., a California corporation, in its individual capacity (“UPFC”) and as guarantor (in such capacity, the “Guarantor”), each
NONCOMMITTED LENDER (as hereinafter defined) FROM TIME TO TIME PARTY HERETO, each COMMITTED LENDER (as hereinafter defined) FROM TIME TO TIME PARTY HERETO, the AGENTS for the Lender Groups from time to time parties hereto (each such party, together
with their respective successors in such capacity, an “Agent”), CENTERONE FINANCIAL SERVICES LLC, as Backup Servicer, DEUTSCHE BANK TRUST COMPANY AMERICAS, as Custodian, and DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York banking
corporation, as Administrative/Collateral Agent (together with its successors in such capacity, the “Administrative/Collateral Agent”). 
  
 BACKGROUND 
  
 1. The Borrower desires that the Lenders extend financing to the Borrower on the terms and conditions set forth herein. 
  
 2. The Lenders are willing to provide such financing on the terms and
conditions set forth in this Agreement. 
  
 NOW, THEREFORE, in
consideration of the premises and the mutual agreements herein contained, the parties hereto agree as follows: 
  
 ARTICLE I 
  
 DEFINITIONS 
  
 SECTION 1.1. Defined Terms. As
used in this Agreement, the following terms have the following meanings: 
  
 “Accountants’ Report” has the meaning set forth in Section 8.7. 
  
 “Accounting Date” means (a) the last day of a Collection Period and (b) with respect to a Distribution Date or Servicer Report Date, the
last day of the Collection Period preceding such Distribution Date or Servicer Report Date (such date being referred to as the “related Accounting Date” with respect to such Distribution Date or Servicer Report Date). 
  
 “Accrual Period” means, with respect to any Distribution
Date, the period from and including the previous Distribution Date (or, in the case of the first Distribution Date, from and including the Effective Date) through and including the day preceding such Distribution Date. 
  

 “Additional Reserve Account Requirement” means, on any date, the product of (a) the
Aggregate Outstanding Principal Balance of Eligible Contracts which are Transferred Contracts on such date and (b) the Additional Reserve Account Percentage on such date. 
  
 “Additional Reserve Account Percentage” means, on any date, the sum of (i) the product of (a) 0.35% and (b)
the excess, if any, of the Walk-In Payment Ratio for the preceding Collection Period over 20%, (ii) any Initial Term Securitization Differential, (iii) any Subsequent Term Securitization Differential, (iv) the product of (a) 2% and (b) the number,
if any, of the following events which have occurred as of such date (and which have not been cured as described below): 
  
 (1) the Net Loss Ratio exceeds (x) prior to the first Take-Out Securitization, 7.00% or (y) after the first Take-Out Securitization,
2.50%; 
  
 (2) the Delinquency Ratio exceeds (x)
prior to the first Take-Out Securitization, 2.00% or (y) after the first Take-Out Securitization, 1.50%; 
  
 (3) the Portfolio Loss Ratio exceeds 8.00%; and 
  

(4) the Portfolio Delinquency Ratio exceeds 2.00%. 
  
 and (v) the product of (a) 2% and (b) the number, if any, of the following events which have occurred as of such date (and which have not
been cured as described below): 
  
 (A) the Net
Loss Ratio exceeds (x) prior to the first Take-Out Securitization, 7.50% or (y) after the first Take-Out Securitization, 3.00%; 
  
 (B) the Delinquency Ratio exceeds (x) prior to the first Take-Out Securitization, 3.00% or (y) after the first Take-Out Securitization,
1.75%; 
  
 (C) the Portfolio Loss Ratio exceeds
9.00%; and 
  
 (D) the Portfolio Delinquency
Ratio exceeds 2.25%. 
  
 If any event set forth in clauses (1)
through (4) or (A) through (D) above shall occur, such event shall be deemed cured only if, subsequent thereto, for three consecutive Monthly Periods the related ratio shall comply with the requirements of such clause; provided,
however, that Additional Reserve Account Percentage shall not be adjusted downward as specified above by more than one percentage point per Distribution Date for each such condition that has been satisfied for the three applicable Monthly
Periods. If none of the events set forth in clauses (1) through (4) or (A) through (D) above shall have occurred, the amount included in the Additional Reserve Account Percentage pursuant to clauses (iv) and (v) shall be 0%. 
  
 “Adjusted Commitment Percentage” means, for a Committed
Lender with respect to a specific Noncommitted Lender, the Commitment of such Committed Lender as a percentage of the Maximum Loan Amount of such Noncommitted Lender. 
  

 - 3 - 

 “Adjusted Eurodollar Rate” means, for any Fixed Period, a rate per annum (rounded
upwards, if necessary, to the nearest 1/100th of 1%) equivalent to the rate determined pursuant to the following formula: 

							
				
	Adjusted Eurodollar Rate	 	=	  	                LIBOR Rate                	  	 
	 	 	 	  	1-LIBOR Reserve Percentage	  	 

  
 on the first day of such Fixed Period.

  
 “Administrative/Collateral Agent” means
Deutsche Bank Trust Company Americas solely in its capacity as Administrative/Collateral Agent, together with its permitted successors and assigns in such capacity. 
  
 “Administrative/Collateral Agent Fee Letter” means (a) that certain schedule of fees of Deutsche Bank Trust
Company Americas, acknowledged by UACC and the Borrower, as the same may be amended, supplemented or otherwise modified by the parties thereto with the consent of the Required Lenders and (b) any letter agreement(s) or schedule of fees entered into
by UACC and the Borrower, with the consent of the Required Lenders, with a substitute Administrative/Collateral Agent in replacement of the schedule of fees referred to in clause (a) above relating to fees payable to such substitute
Administrative/Collateral Agent. 
  
 “Administrative/Collateral Agent’s Account” has the meaning set forth in Section 5.1(a). 
  
 “Advance” means any amount disbursed by any Lender to the Borrower under this Agreement. 
  
 “Adverse Claim” means any claim of ownership or any Lien,
security interest, title retention, trust or other charge or encumbrance, or other type of preferential arrangement having the effect or purpose of creating a Lien or security interest, other than the security interest created hereunder. 

 
 “Affected Person” has the meaning set forth in Section
6.1. 
  
 “Affiliate” of any Person means any
other Person that directly or indirectly controls, is controlled by or is under common control with such Person (excluding any trustee under, or any committee with responsibility for administering, any employee benefit plan). A Person shall be
deemed to be “controlled by” any other Person if such other Person possesses, directly or indirectly, power 
  

	 	(a)	to vote 10% or more of the securities (on a fully diluted basis) having ordinary voting power for the election of directors or managing partners; or 

  

	 	(b)	to direct or cause the direction of the management and policies of such Person whether by contract or otherwise. 

  
 “Agent” has the meaning set forth in the Preamble.

  

 - 4 - 

 “Aggregate Eligible Contracts Balance” means, as of any date, the Aggregate Outstanding
Principal Balance of all Transferred Contracts which are Eligible Contracts on such day of determination. 
  
 “Aggregate Interest Rate Caps Notional Amount” shall mean with respect to any date of determination an amount equal to the sum of the
notional amounts or equivalent amounts of all outstanding Cap Agreements, Replacement Interest Rate Caps and Qualified Substitute Arrangements, each as of such date of determination. 
  
 “Aggregate Outstanding Principal Balance” means, with respect to any group of Contracts as of any date, the
sum of the outstanding Principal Balances of all such Contracts as at 11:59 p.m. on the immediately preceding day. 
  
 “Agreement” shall mean this Receivables Financing Agreement (including the Fee Letter), as it may be amended, supplemented or otherwise
modified from time to time. 
  
 “Alternate Base
Rate” means a fluctuating rate per annum as shall be in effect from time to time, which rate shall be at all times equal to the higher of: 
  

	 	(a)	the rate of interest announced publicly by DBNY in New York, New York, from time to time as DBNY’s base commercial lending rate; and 

  

	 	(b)	1⁄2 of one percent above the Federal Funds Rate. 

  
 “Alternative Rate” for any Advance means a rate per annum equal to 1.50% per annum above the Adjusted Eurodollar Rate for such Advance or
portion thereof; provided, however, that in the case of 
  
 (a) any Fixed Period on or after the first day on which a Committed Lender shall have notified the related Agent that the introduction of or any change in or in the interpretation of any law or regulation makes it
unlawful, or any central bank or other governmental authority asserts that it is unlawful, for such Committed Lender to fund such Advance at the Alternative Rate set forth above (and such Committed Lender shall not have subsequently notified such
Agent that such circumstances no longer exist), 
  
 (b) any Fixed Period of less than seven days, 
  
 (c) any Fixed Period of seven to (and including) 29 days, in the event the Adjusted Eurodollar Rate is not reasonably available to any Agent for such a Fixed Period, 
  
 (d) any Fixed Period as to which the related Advance will not be funded by issuance of commercial paper, as
determined by the related Agent (on behalf of a Noncommitted Lender) later than 12:00 noon (New York City time) on the second Business Day preceding the first day of such Fixed Period, or 
  

 - 5 - 

 (e) any Fixed Period for a Borrowing the principal amount of which allocated to the
Committed Lenders in the aggregate is less than $1,000,000, 
  
 the
“Alternative Rate” shall be a floating rate per annum equal to the Alternate Base Rate in effect on each day of such Fixed Period. 
  
 “Amount Available” means, with respect to any Distribution Date, the sum of (a) the amount of Net Collections with respect to the related
Collection Period and any amounts paid into the Collection Account under any Interest Rate Cap with respect to the Accrual Period ending on the day preceding such Distribution Date, plus (b) any investment income earned on amounts on deposit in the
Collection Account, the Cap Funding Reserve Account and the Reserve Account since the prior Distribution Date (or the Effective Date in the case of the first Distribution Date), plus (c) any Repurchase Amounts deposited in the Collection Account
since the last day of the related Collection Period, plus (d) any amounts deposited in the Collection Account pursuant to Section 9.7(c) or 9.7(d) on such Distribution Date 
  
 “Available Commitment Amount” of a Noncommitted Lender means the aggregate of the unutilized Commitments of
the Committed Lenders with respect to such Noncommitted Lender. 
  
 “Backup Servicer” means CenterOne Financial Services LLC, a Delaware limited liability company, in its capacity as Backup Servicer, together with its permitted successors and assigns in such capacity. 
  
 “Backup Servicer Fee” means, for any Distribution Date, the
amount payable to the Backup Servicer as its regular fee on such Distribution Date pursuant to the Backup Servicer Fee Letter. 
  
 “Backup Servicer Fee Letter” means (a) that certain schedule of fees of CenterOne Financial Services LLC, acknowledged by UACC and the
Borrower, and consented to by the Administrative/Collateral Agent            , as the same may be amended, supplemented or otherwise modified by the parties thereto with the consent of the
Required Lenders and (b) any letter agreement(s) or schedule of fees entered into by UACC and the Borrower, with the consent of the Required Lenders, with a substitute Backup Servicer in replacement of the schedule of fees referred to in clause (a)
above relating to fees payable to such substitute Backup Servicer. 
  
 “Bankruptcy Code” means the Bankruptcy Code, 11 U.S.C. § 101, et seq., as amended. 
  
 “Borrower” has the meaning set forth in the Preamble. 
  
 “Borrower Account Collateral” has the meaning set forth in Section 13.1. 
  
 “Borrower Accounts” has the meaning set forth in Section
9.1. 
  
 “Borrower Assigned Agreements” has
the meaning set forth in Section 13.1. 
  
 “Borrower Collateral” has the meaning set forth in Section 13.1. 
  

 - 6 - 

 “Borrowing Base Confirmation” has the meaning set forth in Section 7.1. 
  
 “Cap Agreements” shall mean each interest rate cap
agreement, between the Borrower and a Cap Provider, as amended from time to time, and any additional interest rate protection agreement or agreements, entered into between the Borrower and a Cap Provider, as the same may from time to time, with the
prior written consent of the Required Lenders and the Rating Agencies, be amended, restated, modified and in effect. 
  
 “Cap Funding Reserve Account” means the account designated as the Cap Funding Reserve Account in, and which is established and maintained
pursuant to, Section 9.1(a). 
  
 “Cap Funding
Reserve Account Requirement” shall mean, with respect to any Servicer Report Date, the amount required as of such date to purchase Interest Rate Caps meeting the requirements of Section 11.6 of this Agreement if they were required to
be purchased on such date pursuant thereto; provided that the Servicer (or, if UACC shall not be the Servicer, DBNY) shall contact qualified Cap Providers to determine the Cap Funding Reserve Account Requirement and shall report such amount
(i) in the first monthly Distribution Date Statement following the Effective Date and (ii) in each monthly Distribution Date Statement following the Servicer Report Date in which UACC and UPFC fail to satisfy the Minimum Liquidity Amount Test.

  
 “Cap Provider” shall mean (a) a third
party cap provider having a senior unsecured debt rating of at least “A” by Standard & Poor’s and “A2” by Moody’s and not on credit watch with negative implications (or a similar status), or (b) a third party
cap provider approved by the Lenders. 
  
 “Capped
Fees/Expenses – Backup Servicer” means, at any time, fees, costs and expenses due at such time (if any) to the Backup Servicer under the Transaction Documents such that the aggregate amount of such fees, costs and expenses paid to the
Backup Servicer under the Transaction Documents in any calendar year do not exceed $45,000. 
  
 “Capped Fees/Expenses – Administrative/Collateral Agent” means, at any time, fees, costs and expenses due at such time (if any) to the Administrative/Collateral Agent under the Transaction
Documents such that the aggregate amount of such fees, costs and expenses paid to the Administrative/Collateral Agent under the Transaction Documents in any calendar year do not exceed $50,000. 
  
 “Capped Fees/Expenses – Custodian” means, at any time,
fees, costs and expenses due at such time (if any) to the Custodian under the Transaction Documents such that the aggregate amount of such fees, costs and expenses paid to the Custodian under the Transaction Documents in any calendar year do not
exceed $100,000. 
  
 “Capped Yield/Fee Amount”
means, with respect to any Distribution Date, the amount of Yield which would have accrued on the Advances during the Accrual Period with respect to such Distribution Date if all Advances bore interest at 4% per annum. 
  

 - 7 - 

 “CenterOne” means CenterOne Financial Services LLC, a Delaware limited liability
company. 
  
 “Collection Account” means the
account designated as the Collection Account in, and which is established and maintained pursuant to, Section 9.1(a). 
  
 “Collection Period” means any calendar month and, with respect to a Servicer Report Date or a Distribution Date, the calendar month
preceding the month in which such Servicer Report Date or Distribution Date occurs (such calendar month being referred to as the “related” Collection Period with respect to such Servicer Report Date or Distribution Date) or, in the case of
the initial Distribution Date and Servicer Report Date, the period commencing at the opening of business on the Effective Date and ending at the end of the calendar month in which the Effective Date occurs. Any amount stated “as of the close of
business of the last day of a Collection Period” shall give effect to the following calculations as determined as of the end of the day on such last day: (i) all applications of collections on the Transferred Contracts and Repurchase Amounts,
and (ii) all distributions. 
  
 “Commercial Paper
Rate” for Advances means, to the extent a Noncommitted Lender funds such Advances by issuing commercial paper, the sum of (i) the weighted average of the rates at which commercial paper notes of such Noncommitted Lender issued to fund such
Advances may be sold by any placement agent or commercial paper dealer selected by such Noncommitted Lender, as agreed in good faith between each such agent or dealer and such Noncommitted Lender; provided if the rate (or rates) as agreed
between any such agent or dealer and such Noncommitted Lender for any Advance is a discount rate (or rates), then such rate shall be the rate (or if more than one rate, the weighted average of the rates) resulting from converting such discount rate
(or rates) to an interest-bearing equivalent rate per annum plus (ii) .05% per annum plus (iii) any and all reasonable costs and expenses of any issuing and paying agent or other Person responsible for the administration of such
Noncommitted Lender’s commercial paper program in connection with the preparation, completion, issuance, delivery or payment of commercial paper issued to fund the making or maintenance of any Advance. Each Noncommitted Lender shall notify the
Administrative/Collateral Agent of its Commercial Paper Rate applicable to any Advance promptly after the determination thereof. 
  
 “Commitment” means, for any Committed Lender, the maximum amount of such Committed Lender’s commitment to fund Advances hereunder,
as set forth on the signatures pages hereof. In the event that a Committed Lender maintains a portion of its Commitment hereunder with respect to more than one Noncommitted Lender, such Committed Lender shall be deemed to hold separate Commitments
hereunder in each such capacity. 
  
 “Commitment
Percentage” means, for a Committed Lender, such Committed Lender’s Commitment as a percentage of the aggregate Commitments of all Committed Lenders. 
  
 “Committed Lender” means, with respect to a Noncommitted Lender, each financial institution party to this
Agreement designated as a “Committed Lender” with respect to such Noncommitted Lender, and any assignee of such Committed Lender pursuant to Article XVI to the extent such assignee has assumed a portion of the Commitment of such
Committed Lender. 
  

 - 8 - 

 “Contract Collateral” means the Transferred Contracts together with the Other Conveyed
Property. 
  
 “Custodial Receipt” means a
Custodian’s Acknowledgment in the form of Exhibit A to the Sale and Servicing Agreement. 
  
 “Custodian” means Deutsche Bank Trust Company Americas solely in its capacity as Custodian, together with its permitted successors and
assigns in such capacity. 
  
 “Custodian Fee
Letter” means (a) that certain schedule of fees of Deutsche Bank Trust Company Americas, acknowledged by UACC and the Borrower, and consented to by the Administrative/Collateral Agent, as the same may be amended, supplemented or otherwise
modified by the parties thereto with the consent of the Required Lenders and (b) any letter agreement(s) or schedule of fees entered into by UACC and the Borrower, with the consent of the Required Lenders, with a substitute Custodian in replacement
of the schedule of fees referred to in clause (a) above relating to fees payable to such substitute Custodian. 
  
 “DBNY” means Deutsche Bank AG, New York Branch. 
  

“Dealer Discount” means, with respect to any Contract, the percentage discount from par at which UACC purchased such Contract from the
related Dealer. 
  
 “Debt/Income Ratio” means,
with respect to any Contract, the percentage equivalent of a fraction the numerator of which is the aggregate outstanding Indebtedness of the Obligor under such Contract and denominator of which is the related Obligor’s gross income.

  
 “Default Rate” means a rate per
annum equal to 2.00% plus the Alternate Base Rate (but not less than the Yield (if any) in effect for the related monetary obligation). 
  
 “Delinquency Ratio” means, on any day, the average of the Monthly Delinquency Ratios for the three most recently completed Collection
Periods. 
  
 “Distribution Date” means the 20th
day of each calendar month, or if such 20th day is not a Business Day, the next succeeding Business Day, commencing October 20, 2004. 
  
 “Dollar(s)” and the sign “$” mean lawful money of the United States of America. 
  
 “Effective Date” has the meaning set forth in Section
7.1. 
  
 “Effective Advance Rate” means, on
any day, the lesser of (i) the Initial Advance Rate and (ii) the percentage equivalent of a fraction the numerator of which is the then outstanding principal amount of all Advances and the denominator of which is the sum of (A) the Aggregate
Eligible Contracts Balance as of such day less any Overconcentration Amount, plus (B) the amount on deposit in the Collection Account which represents principal collections on Transferred Contracts as of such day (other than, if such day is a
Distribution Date, any such principal collections to be included in the Amount Available on such day). 
  

 - 9 - 

 “Eligible Account” means (i) a segregated trust account or (ii) a segregated direct
deposit account, in each case, maintained with a depository institution or trust company organized under the laws of the United States of America, or any of the States thereof, or the District of Columbia, having a certificate of deposit, short term
deposit or commercial paper rating of at least A-1+ by Standard & Poor’s and P-1 by Moody’s. In either case, such depository institution or trust company shall have been approved by the Required Lenders, acting in their discretion, by
written notice to the Servicer. Deutsche Bank Trust Company Americas and DBNY are each deemed to be an acceptable depository institution to the Required Lenders. 
  
 “Eligible Assignee” has the meaning set forth in Section 16.1. 
  
 “Eligible Contract” means, as of any date, a Contract as to
which the representations and warranties set forth in Section 3.01(b) of the Sale and Servicing Agreement are true and correct on such date. 
  
 “Eligible Servicer” means (a) UACC, (b) the Backup Servicer or (c) another Person which at the time of its appointment as Servicer (i) is
servicing a portfolio of motor vehicle retail installment contracts and/or motor vehicle installment loans, (ii) is legally qualified and has the capacity to service the Transferred Contracts, (iii) has demonstrated the ability to service a
portfolio of motor vehicle retail installment contracts and/or motor vehicle installment loans similar to the Transferred Contracts with reasonable skill and care, (iv) is qualified and entitled to use, pursuant to a license or other written
agreement, and agrees to maintain the confidentiality of, the software which the Servicer uses in connection with performing its duties and responsibilities under this Agreement or otherwise has available software which is adequate to perform its
duties and responsibilities under this Agreement, (v) has capital in excess of $75,000,000 and (vi) has been approved by the Required Lenders. 
  
 “ERISA” means the U.S. Employee Retirement Income Security Act of 1974, as amended from time to time. 
  
 “Executive Officer” means, with respect to any corporation,
the President, Chief Financial Officer or any Vice President. 
  
 “Facility” has the meaning set forth in Section 2.1. 
  
 “Facility Limit” means the Total Commitment. 
  
 “Facility Termination Date” means the earliest of (a) the Scheduled Facility Termination Date, (b) the Stated Facility Termination Date and (c) the effective date on which the Facility is terminated
pursuant to Section 14.2. 
  
 “Facility Termination
Event” means any of the events described in Section 14.1. 
  
 “Federal Funds Rate” means, for any period, a fluctuating rate per annum equal for each day during such period to the weighted average of the rates on overnight federal funds transactions with members
of the Federal Reserve System arranged by federal funds brokers, as 

  

 - 10 - 

 
published for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate
is not so published for any day which is a Business Day, the average of the quotations for such day on such transactions received by the Administrative/Collateral Agent from three federal funds brokers of recognized standing selected by it.

  
 “Fee Letter” has the meaning set forth in
Section 3.4. 
  
 “Fees” means all fees and
other amounts payable by the Borrower to the Administrative/Collateral Agent, on behalf of itself, the Lenders and the Support Parties, pursuant to the Fee Letter. 
  
 “Fixed Period” means with respect to any Advance: 
  
 (a) the period commencing on the date of the initial funding
of such Advance and ending on the succeeding Distribution Date; and 
  
 (b) thereafter, each period commencing on the last day of the immediately preceding Fixed Period for such Advance and ending on the next succeeding Distribution Date. 
  
 “GAAP” means generally accepted accounting principles in the
United States, which are applicable to the circumstances as of any date of determination. 
  
 “Guarantor” has the meaning set forth in the Preamble. 
  
 “Increased Costs” means collectively, any increased cost, loss or liability owing to the Administrative/Collateral Agent and/or any other
Affected Person under Article VI of this Agreement. 
  
 “Indebtedness” means, with respect to any Person at any time, (a) indebtedness or liability of such Person for borrowed money whether or not evidenced by bonds, debentures, notes or other instruments, or for the deferred
purchase price of property or services (including trade obligations); (b) obligations of such Person as lessee under leases which should have been or should be, in accordance with GAAP, recorded as capital leases; (c) current liabilities of such
Person in respect of unfunded vested benefits under plans covered by Title IV of ERISA; (d) obligations issued for or liabilities incurred on the account of such Person; (e) obligations or liabilities of such Person arising under acceptance
facilities; (f) obligations of such Person under any guarantees, endorsements (other than for collection or deposit in the ordinary course of business) and other contingent obligations to purchase, to provide funds for payment, to supply funds to
invest in any Person or otherwise to assure a creditor against loss; (g) obligations of such Person secured by any lien on property or assets of such Person, whether or not the obligations have been assumed by such Person; or (h) obligations of such
Person under any interest rate or currency exchange agreement. 
  
 “Indemnified Amounts” has the meaning set forth in Section 17.1. 
  

 - 11 - 

 “Indemnified Party” has the meaning set forth in Section 17.1. 
  
 “Indemnity Amounts” means, collectively, all indemnity
obligations and other amounts owing to the Administrative/Collateral Agent, any Agent, any Lender and/or any other Indemnified Party under Section 13.7, Article XVII or Section 18.4. 
  
 “Independent Accountants” has the meaning set forth in Section 8.7. 
  
 “Initial Advance Rate” means, on any day, 88%. 

 
 “Initial Borrowing Base” means, on any day, the sum of
(a) the product of (1) the Initial Advance Rate and (2) the sum of (i) the Aggregate Outstanding Principal Balance of all Transferred Contracts, if any, which are Eligible Contracts which are being transferred to the Borrower on such day of
determination less any Overconcentration Amount with respect to such Transferred Contracts, plus (ii) the amount on deposit in the Collection Account which represents principal collections on Transferred Contracts as of such day (other than,
if such day is a Distribution Date, any such principal collections to be included in the Amount Available on such day) and (b) the product of (1) the Effective Advance Rate on such day (prior to giving effect to the transfer of Eligible Contracts to
the Borrower on such day) and (2) the Aggregate Eligible Contracts Balance as of such day less any Overconcentration Amount (each determined prior to giving effect to the transfer of Eligible Contracts to the Borrower on such day). 
  
 “Initial Term Securitization Differential” means, if (x)
UACC or any Affiliate of UACC or the Borrower enters into any asset securitization transaction of any sort secured, directly or indirectly, by any Contract and (y) the initial credit enhancement (stated as a percentage of the principal balance of
the Contracts in such asset securitization transaction) for the related surety provider or financial guaranty issuer, whether in the form of subordinated securities, letters of credit, cash reserve or spread account or otherwise, required by such
surety provider or financial guaranty issuer exceeds the sum of (i) 100% minus the Initial Advance Rate, (ii) the Minimum Reserve Account Percentage minus (iii) 2%, the amount (expressed as a percentage) of such excess. 
  
 “Insolvency Event” means, with respect to any Person, (a)
the entry of a decree or order for relief by a court having jurisdiction in the premises in respect of such Person or any substantial part of its property in an involuntary case under any applicable federal or state bankruptcy, insolvency or other
similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any substantial part of its property, or ordering the winding-up or liquidation of
such Person’s affairs, or the commencement of an involuntary case under the federal bankruptcy laws, as now or hereinafter in effect, or another present or future federal or state bankruptcy, insolvency or similar law and such case is not
dismissed within 60 days; or (b) the commencement by such Person of a voluntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by such Person to the entry of an order
for relief in an involuntary case under any such law, or the consent by such Person to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any
substantial part of its property, or the 

  

 - 12 - 

 
making by such Person of any general assignment for the benefit of creditors, or the failure by such Person generally to pay its debts as such debts become
due, or the taking of action by such Person in furtherance of any of the foregoing. 
  
 “Interest Rate Caps” shall mean the interest rate caps provided pursuant to Cap Agreements by one or more Cap Providers to the Administrative/Collateral Agent pursuant to Section 11.6 which
shall entitle the Administrative/Collateral Agent to receive monthly payments equal to the product of (i) the positive difference, if any, between LIBOR Rate in effect for each applicable Interest Accrual Period and a rate per annum no greater than
9.0%, (ii) the notional amount of such interest rate cap and (iii) the actual number of days in the Interest Accrual Period divided by 360. 
  
 “Interim Distribution Date” means any Business Day, other than a Distribution Date, on which Advances are being paid or prepaid.

  
 “Investor” means (i) all Lenders, (ii) all
other owners by assignment or participation of an Advance and, to the extent of the undivided interests so assigned or participated, all Participants (in accordance with Section 16.9), and (iii) each Agent and any subsequent holder of a Note (in
accordance with Section 16.5). 
  
 “Lender” means
any Noncommitted Lender or Committed Lender, and “Lenders” means, collectively, all Noncommitted Lenders and Committed Lenders. 
  
 “LIBOR Rate” shall mean, with respect to any Fixed Period, the rate per annum shown on Telerate Page 3750 as the composite offered rate
for London interbank deposits for a period equal to such Fixed Period, as shown under the heading “USD” as of 11:00 a.m., London time, two Business Days prior to the first day of such Fixed Period; provided that in the event no such
rate is shown, the LIBOR Rate shall be the rate per annum based on the rates at which Dollar deposits for a period equal to such Fixed Period are displayed on page “LIBOR” of the Reuters Monitor Money Rates Service or such other page as
may replace the LIBOR page on that service for the purpose of displaying London interbank offered rates of major banks as of 11:00 a.m., London time, two London Business Days prior to the first day of such Fixed Period (it being understood that if
at least two such rates appear on such page, the rate will be the arithmetic mean of such displayed rates); provided further that in the event fewer than two such rates are displayed, or if no such rate is relevant, the LIBOR Rate
shall be a rate per annum at which deposits in Dollars are offered by the principal office of Deutsche Bank AG in London, England to prime banks in the London interbank market at 11:00 A.M. (London time) two Business Days before the first day of
such Fixed Period for delivery on such first day and for a period equal to such Fixed Period. 
  
 “LIBOR Reserve Percentage” shall mean, with respect to any Fixed Period, a percentage (expressed as a decimal) equal to the weighted average of the percentages in effect during such Fixed Period, as
prescribed by the Board of Governors of the Federal Reserve System (or any successor thereto) for determining the maximum reserve requirements applicable to “Eurocurrency liabilities” pursuant to Regulation D or any other applicable
regulation of the 

  

 - 13 - 

 
Federal Reserve Board (or any successor thereto) which prescribes reserve requirements applicable to “Eurocurrency liabilities” as currently
defined in Regulation D. 
  
 “Lien” means any
security interest, lien, charge, pledge, preference, equity or encumbrance of any kind, including tax liens, mechanics’ liens and any liens that attach by operation of law. 
  
 “Liquidity Amount” shall mean, on any determination date, the sum of cash or cash equivalents owned by UACC
and UPFC and any of their respective subsidiaries (including Pan American Bank) on such determination date and 80% of the unpledged securities or other obligations issued or guaranteed by any agency of the United States government owned by UACC and
UPFC and any of their respective subsidiaries (including Pan American Bank) on such determination date. 
  
 “Maximum Loan Amount” of a Noncommitted Lender means the aggregate Commitment of the Committed Lenders with respect to such Noncommitted
Lender. 
  
 “Minimum Liquidity Amount Test” shall
be met, on any determination date, if the Liquidity Amount is then, and is reasonably expected throughout the then following six-month period to continue to be, at least $10,000,000, and UACC shall have provided a certification to such effect to the
Administrative/Collateral Agent, accompanied by a quarterly financial forecast for the following two-year period and a reasonably detailed calculation of the Liquidity Amount and of compliance with such test. 
  
 “Minimum Reserve Account Requirement” means, on any date,
the greater of (a) the product of 0.25% and the Facility Limit on such date and (b) the product of the Minimum Reserve Account Percentage and the Aggregate Outstanding Principal Balance of Eligible Contracts which are Transferred Contracts on such
date. 
  
 “Minimum Reserve Account Percentage”
means, on any date, 2% 
  
 “Monthly Delinquency
Ratio” means, as of any date, the percentage equivalent of a fraction (a) the numerator of which is the Aggregate Outstanding Principal Balance of all Transferred Contracts which are Delinquent Contracts (including Contracts with respect to
which the related Financed Vehicle was repossessed) as of such date and (b) the denominator of which is the Aggregate Outstanding Principal Balance of all Transferred Contracts as of such date. 
  
 “Monthly Net Loss Ratio” means, for any Collection Period,
the percentage equivalent of a fraction (a) the numerator of which is the product of (i) the Aggregate Outstanding Principal Balance of all Transferred Contracts which became Liquidated Contracts during such Collection Period less Net Liquidation
Proceeds during such Collection Period and (ii) 12 and (b) the denominator of which is the Aggregate Outstanding Principal Balance of all Transferred Contracts as of the last day of the preceding Collection Period. 
  
 “Moody’s” means Moody’s Investors Service, Inc.,
or any successor thereto. 
  

 - 14 - 

 “Net Loss Ratio” means, on any day, the average of the Monthly Net Loss Ratios for the
three most recently completed Collection Periods. 
  
 “Net
Spread – All-In” means, as of any date, the positive excess (rounded upward to the nearest 0.5%), if any, of (a) the product of the weighted average APR of the Eligible Contracts on such date (after giving effect to any reduction of
the APR of any Eligible Contract pursuant to the provision of Section 4.01 of the Sale and Servicing Agreement) times the Performing Loan Factor on such date over (b) the sum of (i) the Total Expense Percentage plus (ii) the
weighted (on the basis of notional amounts) average strike prices for the Interest Rate Caps in effect on such date. 
  
 “Net Spread – Senior” means, as of any date, the positive excess (rounded upward to the nearest 0.5%), if any, of (a) the product of
the weighted average APR of the Eligible Contracts on such date (after giving effect to any reduction of the APR of any Eligible Contract pursuant to the provision of Section 4.01 of the Sale and Servicing Agreement) times the Performing Loan
Factor on such date over (b) the sum of (i) the Total Expense Percentage plus (ii) 3.15%. 
  
 “Noncommitted Lender” means each Structured Lender which shall become a party hereto. 
  
 “Noncommitted Lender Liquidity Arrangement” means each
liquidity, credit enhancement or “back-stop” purchase or loan facility for a Noncommitted Lender relating to this Agreement. 
  
 “Noncommitted Percentage” means, for a Noncommitted Lender, such Noncommitted Lender’s Maximum Loan Amount as a percentage of the
Facility Limit. 
  
 “Note” means the promissory
grid note, in the form of Exhibit B, made payable to the order of an Agent, on behalf of the related Investors. 
  
 “Note Register” has the meaning set forth in Section 16.5(a). 
  
 “Note Registrar” has the meaning set forth in Section 16.5(a). 
  
 “Obligations” means all obligations (monetary or otherwise)
of the Borrower to the Investors, the Agents, the Interest Rate Cap Counterparties, the Custodian, the Backup Servicer, CenterOne, the Administrative/Collateral Agent or any other Affected Person or Indemnified Party arising under or in connection
with this Agreement, the Notes and each other Transaction Document. 
  
 “Officer’s Certificate” means a certificate signed by an Executive Officer. 
  
 “Official Body” means any government or political subdivision or any agency, authority, regulatory body, bureau, central bank,
commission, department or instrumentality of any such government or political subdivision, or any court, tribunal, grand jury or arbitrator, in each case whether foreign or domestic. 
  

 - 15 - 

 “Opinion of Counsel” means a written opinion of independent counsel reasonably
acceptable in form and substance and from counsel acceptable to the Required Lenders. 
  
 “Other Conveyed Property” means the items transferred to the Borrower pursuant to Section 2.01(a) of the Sale and Servicing Agreement other than the Transferred Contracts. 
  
 “Overconcentration Amount” means, as of any date, the sum,
without duplication, of the following: 
  
 (a)
the amount, if any, by which the Aggregate Outstanding Principal Balance of all Transferred Contracts which are Eligible Contracts which were originated by any Dealer exceeds 1.00% of the Aggregate Eligible Contracts Balance; 
  
 (b) the amount, if any, by which the Aggregate Outstanding
Principal Balance of all Transferred Contracts which are Eligible Contracts which were originated by Obligors having an address in a particular state exceeds the percentage of the Aggregate Eligible Contracts Balance set forth opposite the name of
such state below: 
  

				
	 State

	  	Percentage

	 
	 California, Florida
	  	25	%
	 Texas
	  	20	%
	 Illinois, Arizona, New York, Ohio, North Carolina, Georgia, Virginia
	  	10	%
	 Indiana, Washington, Maryland, Missouri
	  	7	%
	 All other states
	  	5	%

  
 (c)
the Aggregate Outstanding Principal Balance, if any, of Transferred Contracts with the highest Dealer Discounts which if removed from the Transferred Contracts would cause the weighted average Dealer Discount of all remaining Transferred Contracts
which are Eligible Contracts to be less than 7.5%; 
  
 (d) the Aggregate Outstanding Principal Balance, if any, of Transferred Contracts with the highest Debt/Income Ratios which if removed from the Transferred Contracts would cause the weighted average Debt/Income Ratio of all remaining
Transferred Contracts which are Eligible Contracts to be less than 35%; and 
  
 (e) the Aggregate Outstanding Principal Balance, if any, of Transferred Contracts with the highest Payment/Income Ratios which if removed from the Transferred Contracts would cause the weighted average Payment/Income
Ratio of all remaining Transferred Contracts which are Eligible Contracts to be less than 15%. 
  
 “Participant” has the meaning set forth in Section 16.9. 
  

 - 16 - 

 “Payment/Income Ratio” means, with respect to any Contract, the percentage equivalent of
a fraction the numerator of which is the aggregate monthly payment due under such Contract and denominator of which is the related Obligor’s gross income. 
  

“Performing Loan Factor” means, on any day, 1 minus the most recently calculated Monthly Delinquency Ratio. 
  
 “Permitted Investment” means, at any time: 
  
 (a) direct interest-bearing obligations of, and
interest-bearing obligations guaranteed as to timely payment of principal and interest by, the United States or any agency or instrumentality of the United States, the obligations of which are backed by the full faith and credit of the United
States; 
  
 (b) demand or time deposits in,
certificates of deposit of, demand notes of, or bankers’ acceptances issued by any depository institution or trust company organized under the laws of the United States or any State thereof (including any federal or state branch or agency of a
foreign depository institution or trust company) and subject to supervision and examination by federal and/or state banking authorities (including, if applicable, the Administrative/Collateral Agent or any agent thereof acting in its commercial
capacity); provided that the short-term unsecured debt obligations of such depository institution or trust company at the time of such investment, or contractual commitment providing for such investment, are rated at least “A-1+” by
Standard & Poor’s and “P-1” by Moody’s; 
  
 (c) repurchase obligations pursuant to a written agreement (i) with respect to any obligation described in clause (a) above, where the Administrative/Collateral Agent has taken actual or constructive delivery of such
obligation in accordance with Article IX of this Agreement, and (ii) entered into with (x) DBNY or (y) the corporate trust department of a depository institution or trust company organized under the laws of the United States or any State thereof,
the deposits of which are insured by the Federal Deposit Insurance Corporation and the short-term unsecured debt obligations of which are rated at least “A-1+” by Standard & Poor’s and “P-1” by Moody’s (including,
if applicable, the Administrative/Collateral Agent or any agent thereof acting in its commercial capacity); 
  
 (d) securities bearing interest or sold at a discount issued by any corporation incorporated under the laws of the United States or any
State whose long-term unsecured debt obligations are assigned one of the two highest long-term ratings by each Rating Agency at the time of such investment or contractual commitment providing for such investment; provided, however,
that securities issued by any particular corporation will not be Permitted Investments to the extent that an investment therein will cause the then outstanding principal amount of securities issued by such corporation and held in the Collection
Account, the Cap Funding Reserve Account and the Reserve Account to exceed 10% of the value of Permitted Investments held in such accounts (with Permitted Investments held in such accounts valued at par); 
  

 - 17 - 

 (e) commercial paper that (i) is payable in United States dollars and (ii) is rated at
least “A-1+” by Standard & Poor’s and “P-1” by Moody’s; 
  
 (f) units of money market funds rated in the highest credit rating category by each Rating Agency; or 
  
 (g) any other demand or time deposit, obligation, security
or investment (including, without limitation, a hedging arrangement) as may be acceptable to the Required Lenders, as evidenced by a writing to that effect. 
  
 Permitted Investments may be purchased by or through the Administrative/Collateral Agent or any of its Affiliates. All Permitted Investments shall be held in the name of
the Administrative/Collateral Agent. No Permitted Investment shall have an “r” highlighter affixed to its Standard & Poor’s rating. 
  
 “Permitted Lien” means (i) the Lien in favor of the Administrative/Collateral Agent for the benefit of the Secured Parties, (ii) the
restrictions on transferability imposed by the Transaction Documents and (iii) inchoate Liens for taxes not yet payable and mechanics’ or suppliers’ liens for services or materials supplied the payment of which is not yet overdue.

  
 “Person” means an individual, partnership,
corporation (including a business trust), joint stock company, limited liability company, trust, unincorporated association, joint venture, government or any agency or political subdivision thereof or any other entity. 
  
 “Portfolio Delinquency Ratio” means, on any day, the average
of the Portfolio Monthly Delinquency Ratios for the three most recently completed Collection Periods. 
  
 “Portfolio Monthly Delinquency Ratio” means, for any Collection Period, the percentage equivalent of a fraction (a) the numerator of
which is the aggregate outstanding Principal Balance of all Contracts serviced by the Servicer which became Delinquent Contracts or with respect to which the related Financed Vehicle was repossessed during such Collection Period and (b) the
denominator of which is the aggregate outstanding Principal Balance of all Contracts serviced by the Servicer as of the last day of the preceding Collection Period. 
  
 “Portfolio Monthly Loss Ratio” means, for any Collection Period, the percentage equivalent of a fraction
(a) the numerator of which is the product of (i) the aggregate outstanding Principal Balance of all Contracts serviced by the Servicer which became Liquidated Contracts during such Collection Period less Net Liquidation Proceeds during such
Collection Period and (ii) 12 and (b) the denominator of which is the aggregate outstanding Principal Balance of all Contracts serviced by the Servicer as of the last day of the preceding Collection Period. 
  
 “Portfolio Loss Ratio” means, on any day, the average of the
Portfolio Monthly Loss Ratios for the three most recently completed Collection Periods. 
  
 “Purchase Date” means, with respect to a Transferred Contract, the date on which such Contract is sold or contributed to the Borrower pursuant to the Sale and Servicing Agreement. 
  

 - 18 - 

 “Qualified Substitute Arrangement” shall have the meaning specified in Section
11.6(d) of this Agreement. 
  
 “Rating
Agencies” means Standard & Poor’s and Moody’s. 
  
 “Record Date” means, with respect to any Servicer Report Date or Distribution Date, the last day of the immediately preceding calendar month. 
  
 “Replacement Interest Rate Cap” shall mean one or more Interest Rate Caps, which in combination with all
other Interest Rate Caps then in effect, after giving effect to any planned cancellations of any presently outstanding Interest Rate Caps satisfy the Borrower’s covenant contained in Section 11.6 of this Agreement to maintain Interest
Rate Caps. 
  
 “Repurchased Contract” means, with
respect to any Collection Period, any Transferred Contract as to which the Repurchase Amount has been deposited in the Collection Account by or on behalf of the Borrower or the Servicer, as applicable, on or before the related Servicer Report Date
and any Transferred Contract purchased by the Servicer, the Seller or UACC pursuant to the Sale and Servicing Agreement as to which the Repurchase Amount has been deposited in the Collection Account by or on behalf of the Servicer, the Seller or
UACC, as the case may be. 
  
 “Required Interest Rate Caps
Notional Amount” shall mean, with respect to any date of determination, the outstanding principal amount of the Advances on such date of determination. 
  

“Required Lenders” means, at any time, (a) Noncommitted Lenders holding Advances aggregating at least 66-2/3% of all Advances then
owing to Noncommitted Lenders, and (b) Committed Lenders having Commitments or, if no Commitments are in effect, Advances, aggregating at least 66-2/3% of the Total Commitment or Advances owing to Committed Lenders (as the case may be). 

 
 “Required Reserve Account Amount” means, on any date, the
sum of (a) the Minimum Reserve Account Requirement and (b) the Additional Reserve Account Requirement. 
  
 “Reserve Account” means the account designated as the Reserve Account in, and which is established and maintained pursuant to, Section
9.1(a). 
  
 “Responsible Officer” means, with
respect to any Person that is not an individual, the President, any Vice-President or Assistant Vice-President or the Controller of such Person, or any other officer or employee having similar functions. 
  
 “Sale and Servicing Agreement” means the Sale and Servicing
Agreement, dated as of September 23, 2004, by and among the Borrower, the Seller, the Custodian and the Servicer. 
  
 “Scheduled Facility Termination Date” means the date that is 364 days from the Effective Date of this Agreement or such later date to
which the Scheduled Facility Termination Date may be extended, if extended, pursuant to Section 2.7. 
  

 - 19 - 

 “Secured Parties” means, collectively, each Agent, each Lender, the
Administrative/Collateral Agent, each other Affected Person and their respective successors and assigns. 
  
 “Servicer” means UACC or, as applicable, any successor servicer appointed pursuant to the Sale and Servicing Agreement. 
  
 “Servicing Fee” means, with respect to any Distribution
Date, the fee payable to the Servicer for services rendered during the related Collection Period, which shall be equal to one-twelfth of the Servicing Fee Percentage multiplied by the average Aggregate Outstanding Principal Balance of Transferred
Contracts for each day during the related Collection Period and, with respect to any successor Servicer, the greater of (i) $5,000 per Collection Period and (ii) the aggregate for each Contract of the greater of (a) 3.00% times the Outstanding
Principal Balance of that Contract as of the opening of business on the first day of such Collection Period times one twelfth and (b) $15.00 plus all expenses reimbursable to such successor Servicer pursuant to the Backup Servicer Fee Letter or this
Agreement. 
  
 “Servicing Fee Percentage” means
3.0%, or, following a Servicer Default, such higher rate as may be payable at such time to a successor Servicer. 
  
 “Settlement Date” means, with respect to any Advance, (x) each Distribution Date or (y) the date on which the Borrower shall prepay such
Advance pursuant to Section 2.6 hereof. 
  
 “SL
Affected Party” has the meaning set forth in Section 3.3(c). 
  
 “Standard & Poor’s” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., or any successor thereto. 
  
 “Stated Facility Termination Date” means the date that is
three years from the Effective Date of this Agreement. 
  
 “Structured Lender” shall mean any Person whose principal business consists of issuing commercial paper, medium term notes or other securities to fund its acquisition and maintenance of receivables, accounts, instruments,
chattel paper, general intangibles and other similar assets or interests therein and which is required by any nationally recognized statistical rating organization which is rating such securities to obtain from its principal debtors an agreement
such as that set forth in Section 18.11(a) of this Agreement in order to maintain such rating. 
  
 “Subordinate Servicing Fee” means, with respect to any Distribution Date and with respect to any successor Servicer, the excess, if any,
of the Servicing Fee calculated using $20.00 in clause (ii)(b) of the definition thereof over the Servicing Fee calculated using $15.00 in clause (ii)(b) thereof. 
  
 “Subsequent Term Securitization Differential” means, if (x) UACC or any Affiliate of UACC or the Borrower
enters into any asset securitization transaction of any sort secured, directly or indirectly, by any Contract and (y) in connection with agreeing to any waiver or 

  

 - 20 - 

 
amendment to the transaction documents relating to such asset securitization, the related surety provider or financial guaranty issuer receives any
additional credit enhancement (stated as a percentage of the principal balance of the Contracts in such asset securitization transaction) whether in the form of subordinated securities, letters of credit, cash reserve or spread account or otherwise,
the amount (expressed as a percentage) of such additional credit enhancement. 
  
 “Subsidiary” means, with respect to any Person, a corporation of which such Person and/or its other Subsidiaries own, directly or indirectly, such number of outstanding shares as have more than 50% of
the ordinary voting power for the election of directors. 
  
 “Support Facility” shall mean any liquidity or credit support agreement with a Noncommitted Lender which relates to this Agreement (including any agreement to purchase an assignment of or participation in Notes).

  
 “Support Party” shall mean any other bank,
insurance company or other financial institution extending or having a commitment to extend funds to or for the account of a Noncommitted Lender (including by agreement to purchase an assignment of or participation in Notes) under a Support
Facility. Each Committed Lender for a Noncommitted Lender shall be deemed to be a Support Party for such Noncommitted Lender. 
  
 “Tangible Net Worth” means, with respect to any Person, the net worth of such Person calculated in accordance with GAAP after subtracting
therefrom the aggregate amount of such Person’s intangible assets, including, without limitation, goodwill, franchises, licenses, patents, trademarks, tradenames, copyrights and service marks. 
  
 “Take-Out Securitization” means (i) a financing transaction
of any sort undertaken by any Affiliate of UACC or the Borrower secured, directly or indirectly, by any Contract which was a Transferred Contract prior to such transaction or (ii) any UACC or other asset securitization, secured loans, whole loan
sale or similar transactions involving any Contract which was a Transferred Contract prior to such transaction or any beneficial interest therein. 
  
 “Target Advance Rate” means, on any day, 85%. 
  
 “Target Borrowing Base” means, on any day, the product of (1) the Target Advance Rate and (2) the sum of (i) the Aggregate Eligible
Contracts Balance as of such day less any Overconcentration Amount, plus (ii) the amount on deposit in the Collection Account which represents principal collections on Transferred Contracts as of such day (other than, if such day is a
Distribution Date, any such principal collections to be included in the Amount Available on such day). 
  
 “Taxes” has the meaning set forth in Section 5.1(b). 
  
 “Total Commitment” means the aggregate of the Commitments of all Committed Lenders. 
  

 - 21 - 

 “Total Expense Percentage” means, as of any date, the sum of (a) the Servicing Fee
Percentage plus (b) the “Program Fee Rate” (as defined in the Fee Letter) plus (c) the “Usage Fee Rate” (as defined in the Fee Letter) plus (d) the rate at which fees due to the Custodian under the Custodian
Fee Letter accrue (if calculated on the basis of the outstanding amount of Contracts) plus (e) the rate at which fees and expenses due to the Backup Servicer under the Backup Servicer Letter accrue (if calculated on the basis of the
outstanding amount of Contracts) plus (f) the rate at which fees due to the Administrative/Collateral Agent under the Administrative/Collateral Agent Fee Letter accrue (if calculated on the basis of the outstanding amount of Contracts).

  
 “Transaction Documents” means this Agreement,
the Notes, the Fee Letter, the Sale and Servicing Agreement, the Intercreditor Agreement, each Interest Rate Cap and the other documents to be executed and delivered in connection with this Agreement. 
  
 “Transferred Contract” means each Contract which appears on
any Schedule of Contracts at any time hereafter submitted to the Borrower pursuant to the Sale and Servicing Agreement, whether purchased by the Borrower or contributed to the capital of the Borrower. Once a Contract appears on any such Schedule of
Contracts it shall remain a Transferred Contract; provided, however, that any Contract that is released from the Lien granted to the Administrative/Collateral Agent for the benefit of the Secured Parties pursuant hereto shall not be a
“Transferred Contract” after such Contract is so released. 
  
 “Transfer Request” has the meaning set forth in Section 13.4. 
  
 “UACC” has the meaning set forth in the Preamble. 
  
 “UCC” means the Uniform Commercial Code as from time to time in effect in the applicable jurisdiction or
jurisdictions. 
  
 “Unmatured Facility Termination
Event” means any event that, if it continues uncured, will, with lapse of time or notice or lapse of time and notice, constitute a Facility Termination Event. 
  
 “UPFC” has the meaning set forth in the Preamble. 
  
 “Walk-In Payment Percentage” means, with respect to any
Collection Period, the percentage equivalent of a fraction the numerator of which is the amount of Net Collections received in cash by the Servicer at its offices (as opposed to by mail) during such Collection Period and the denominator of which is
the amount of Net Collections deposited in Collection Account by the Servicer during such Collection Period. 
  
 “Walk-In Payment Ratio” means, on any day, the average of the Walk-In Payment Percentages for the three most recently completed
Collection Periods. 
  
 “written” or “in
writing” (and other variations thereof) means any form of written communication or a communication by means of telex, telecopier device, telegraph or cable. 
  

 - 22 - 

 “Yield” means, with respect to any period, the daily interest accrued on Advances during
such period as provided for in Article III. 
  
 SECTION 1.2.
Other Definitional Provisions. (a) Unless otherwise specified therein, all terms defined in this Agreement have the meanings as so defined herein when used in the Notes or any other Transaction Document, certificate, report or other document
made or delivered pursuant hereto. 
  
 (b) Each term defined in
the singular form in Section 1.1 or elsewhere in this Agreement shall mean the plural thereof when the plural form of such term is used in this Agreement, the Notes or any other Transaction Document, certificate, report or other document made
or delivered pursuant hereto, and each term defined in the plural form in Section 1.1 shall mean the singular thereof when the singular form of such term is used herein or therein. 
  
 (c) The words “hereof,” “herein,” “hereunder” and similar terms when used in this Agreement
shall refer to this agreement as a whole and not to any particular provision of this Agreement, and article, section, subsection, schedule and exhibit references herein are references to articles, sections, subsections, schedules and exhibits to
this Agreement unless otherwise specified. 
  
 (d) The following
terms which are defined in the Uniform Commercial Code in effect in the State of New York on the date hereof are used herein as so defined: Accounts, Chattel Paper, Documents, Equipment, General Intangibles, Instruments, Inventory, Investment
Property and Proceeds. 
  
 (e) For the avoidance of doubt, on each
date on which the Aggregate Eligible Contracts Balance, the Initial Borrowing Base or the Target Borrowing Base is required to be calculated by the Borrower, the Servicer, the Lenders or the Agents hereunder, the eligibility of each of the
Transferred Contracts shall be redetermined as of such calculation date (i.e., each reference to a Closing Date in Section 3.01(b) of the Sale and Servicing Agreement shall be deemed to be a reference to the date of calculation) and, as a
consequence thereof, Contracts that were Eligible Contracts on the related Closing Date may be excluded from the Aggregate Eligible Contracts Balance, the Initial Borrowing Base or the Target Borrowing Base (as the case may be) on the date of
calculation. 
  
 (f) Capitalized terms used herein but not
otherwise defined shall have the meanings set forth in the Sale and Servicing Agreement. 
  
 ARTICLE II 
  
 THE FACILITY,
ADVANCE PROCEDURES AND NOTE 
  
 SECTION 2.1. Facility. On
the terms and subject to the conditions set forth in this Agreement, each Noncommitted Lender may, in its sole discretion, make Advances (to the extent of its Available Commitment Amount) to the Borrower on a revolving basis from time to time during
the period commencing on the Effective Date and ending on the Facility Termination 

  

 - 23 - 

 
Date, in each case in such amounts as may be requested by the Borrower pursuant to Section 2.2. If on any day there shall be more than one
Noncommitted Lender, any Advance requested by the Borrower on such day shall be allocated among the Noncommitted Lenders pro rata on the basis of their respective Noncommitted Percentages and each Noncommitted Lender may, in its sole
and absolute discretion, determine whether to make an Advance in its allocated amount. If a Noncommitted Lender elects not to make a requested Advance, each of the Committed Lenders with respect to such Noncommitted Lender shall make Advances (in an
aggregate amount equal to the requested Advance) to the Borrower (to the extent of the unutilized Commitment of each such Committed Lender and pro rata among such Committed Lenders in accordance with their respective Adjusted
Commitment Percentages) on a revolving basis from time to time during the period commencing on the Effective Date and ending on the Facility Termination Date. The lending arrangement made available to the Borrower pursuant to the preceding sentences
of this Section 2.1 is herein called the “Facility”. The aggregate principal amount of all Advances from time to time outstanding hereunder shall not exceed the lesser of (a) the Facility Limit and (b) the Initial Borrowing
Base. In addition, under no circumstances shall any Lender make any Advance if after giving effect thereto the aggregate outstanding principal balance of all Advances owing to such Lender would exceed (i) if such Lender is a Noncommitted Lender, its
Maximum Loan Amount or (ii) if such Lender is a Committed Lender, its applicable Commitment. Within the limits of the Facility, the Borrower may borrow, prepay and reborrow under this Section 2.1. No additional Advances may be made if the
Backup Servicer shall be acting as Servicer. 
  
 SECTION 2.2.
Advance Procedures. The Borrower may request an Advance hereunder by giving notice to the Administrative/Collateral Agent of a proposed Advance not later than 1:00 P.M., New York time, three Business Days prior to the proposed date of such
Advance. Each such notice (herein called an “Advance Request”) shall be in the form of Exhibit A and shall include the date and amount of such proposed Advance and the Schedule of Contracts setting forth the information
required therein with respect to the Contracts, if any, to be acquired by the Borrower on the date such Advance is requested to be made. No more than two Advance Requests may be made in any calendar week. Any Advance Request given by the Borrower
pursuant to this Section 2.2 shall be irrevocable and binding on the Borrower. The Administrative/Collateral Agent shall promptly forward a copy of each Advance Request received by it to each Agent and each Lender. The
Administrative/Collateral Agent shall have no obligation to lend funds hereunder. 
  
 Each Noncommitted Lender shall notify the Agent for its Lender Group by 10:00 a.m., New York City time, on the applicable requested date of Advance whether it has elected to make the Advance requested of it pursuant
to the preceding paragraph. In the event that a Noncommitted Lender shall not have timely provided such notice, such Noncommitted Lender shall be deemed to have elected not to make such Advance. Such Agent shall notify each Committed Lender for such
Noncommitted Lender on or prior to 11:00 a.m., New York City time, on the applicable requested date of Advance if such Noncommitted Lender has not elected to advance its entire Noncommitted Percentage of the Advance requested, which notice shall
specify (i) the identity of such Noncommitted Lender, (ii) the portion of the Advance which such Noncommitted Lender has not elected to advance as provided above, and (iii) the respective 

  

 - 24 - 

 
Adjusted Commitment Percentages of such Committed Lenders on such requested date of Advance (as determined by such Agent in good faith; for purposes of such
determination, such Agent shall be entitled to rely conclusively on the most recent information provided by such Noncommitted Lender or its agent or by the agent for its Support Parties). Subject to receiving such notice and to the satisfaction of
the applicable conditions set forth in Article VI hereof, each of such Noncommitted Lender’s Committed Lenders shall make a loan on the applicable requested date of Advance in an amount equal to its Adjusted Commitment Percentage of the portion
of the Advance which such Noncommitted Lender has not elected to advance, in an amount equal to its share of the Advance so loaned. 
  
 SECTION 2.3. Funding. Subject to the satisfaction, in the determination of the Lenders, of the conditions precedent set forth in Article VII
with respect to such Advance, each Lender’s portion of the requested Advance payable pursuant to Section 2.2 of this Agreement shall be made available to the Administrative/Collateral Agent at or prior to 2:00 p.m., New York City time, on the
requested date of Advance, by deposit of immediately available funds to the Administrative/Collateral Agent’s Account. Subject to the satisfaction, in the determination of the Lenders, of the conditions precedent set forth in Article VII
with respect to such Advance (as evidenced by the advancing of such funds by the Lenders) and the Administrative/Collateral Agent’s receipt of such funds, the Administrative/Collateral Agent shall make the proceeds of such requested Advance
available as follows: first, to the extent the amount on deposit in the Reserve Account is less than the Required Reserve Account Amount (computed by the Borrower (as set forth in the related Advance Request) after giving effect to the
proposed Advance and to the transfer to the Borrower of any Contracts to be transferred to it by the Seller on such date) on the proposed date of the Advance, an amount equal to such deficiency shall be deposited in the Reserve Account (by wire to
account no. 01-419647 maintained at Deutsche Bank Trust Company Americas (ABA #021-001-033), referencing UPFC Reserve Acct 43045, with telephone notice (including wire number) to Tara Richards/Peter Becker, telephone 212-250-5996); second, to
the extent the amount on deposit in the Cap Funding Reserve Account is less than the Cap Funding Reserve Account Requirement (computed after giving effect to the proposed Advance and to the transfer to the Borrower of any Contracts to be transferred
to it by the Seller on such date) on the proposed date of the Advance, an amount equal to such deficiency shall be deposited in the Cap Funding Reserve Account (by wire to account no. 01-419647 maintained at Deutsche Bank Trust Company Americas (ABA
#021-001-033), referencing UPFC Cap Funding Reserve Acct 43046, with telephone notice (including wire number) to Tara Richards/Peter Becker, telephone 212-250-5996); third, to pay any upfront cost of acquiring any Interest Rate Cap;
fourth, to pay any fees and expenses due to the Lenders or the Agents on the date of such Advance; and fifth, all amounts of the proposed Advance in excess of the amounts distributed pursuant to first, second,
third and fourth above shall be made available to the Borrower by deposit to such account as may be designated by the Borrower (in a written notice received by the Administrative/Collateral Agent at least one Business Day prior to the
date of such Advance) in same day funds no later than 3:00 p.m., New York City time, on the date of such Advance. 
  
 In the event that notwithstanding the fulfillment of the applicable conditions set forth in Article VII hereof with respect to an Advance, a Noncommitted
Lender elected to make an Advance but failed to make its portion thereof available to the Administrative/Collateral Agent 

  

 - 25 - 

 
when required pursuant to the preceding paragraph, such Noncommitted Lender shall be deemed to have rescinded its election to make such advance, and neither
the Borrower nor any other party shall have any claim against such Noncommitted Lender by reason of its failure to timely make such advance. In any such case, the Administrative/Collateral Agent shall give notice of such failure not later than 2:30
p.m., New York City time, on the requested date of Advance to each Committed Lender for such Noncommitted Lender and to the Agent for its Lender Group, the Borrower and the Servicer, which notice shall specify (i) the identity of such Noncommitted
Lender, (ii) the amount of the advance which it had elected but failed to make and (iii) the respective Adjusted Commitment Percentages of such Committed Lenders on such date (as determined by the related Agent). Subject to receiving such notice,
each of such Noncommitted Lender’s Committed Lenders shall lend a portion of the requested Advance in an amount equal to its Adjusted Commitment Percentage of the amount described in clause (ii) above at or before 4:00 p.m., New York City time,
on such date and otherwise in accordance with this Section 2.3. Subject to the Administrative/Collateral Agent’s receipt of such funds, the Administrative/Collateral Agent will not later than 5:00 p.m., New York City time, on such date make
such funds available in accordance with the provisions of the preceding paragraph. 
  
 SECTION 2.4. Notes. All Advances by the Lenders in a Lender Group shall be further evidenced by a Note, executed by the Borrower, with appropriate insertions, payable to the order of the Agent for such Lender
Group. The Borrower hereby irrevocably authorizes each Agent to make (or cause to be made) appropriate notations on the grid attached to the Notes (or on any continuation of such grid, or at such Agent’s option, in its records), which
notations, if made, shall evidence, inter alia, the date of the outstanding principal of the Advances evidenced thereby and each payment of principal thereon. Such notations shall be rebuttably presumptive evidence of the subject
matter thereof absent manifest error; provided, however, that the failure to make any such notations shall not limit or otherwise affect any of the Obligations or any payment thereon. 
  
 SECTION 2.5. Reductions of Commitments. 
  
 (a) At any time the Borrower may, upon at least five
Business Days’ prior written notice to the Administrative/Collateral Agent, reduce the Total Commitment in whole or in part. Each partial reduction shall be in an aggregate amount of $25,000,000 or integral multiples of $5,000,000 in excess
thereof (or such other amount requested by the Borrower to which the Administrative/Collateral Agent consents). Reductions of the aggregate Commitments pursuant to this subsection 2.5(a) of this Agreement shall be allocated (i) to the Maximum Loan
Amount of each Noncommitted Lender, pro rata based on the Noncommitted Percentage represented by such Maximum Loan Amount, and (ii) to the aggregate Commitments of Committed Lenders for each Noncommitted Lender pro rata
based on their respective Adjusted Commitment Percentages. The Administrative/Collateral Agent shall promptly deliver a copy of any such notice to each Agent and each Lender. 
  
 (b) On the Facility Termination Date, the Commitment of each Lender shall be automatically reduced to zero.

  

 - 26 - 

 SECTION 2.6. Repayments and Prepayments. The Borrower shall repay in full the unpaid principal
amount of each Advance on the Scheduled Facility Termination Date. Prior thereto, the Borrower: 
  
 (a) may, from time to time on any Business Day, make a prepayment, in whole or in part, of the outstanding principal amount of any
Advance; provided, however, that 
  
 (i) all such voluntary prepayments shall require at least three Business Days’ prior written notice to the Administrative/Collateral Agent; and 
  

(ii) all such voluntary partial prepayments shall be in a minimum amount of $5,000,000 and an integral multiple of $1,000,000;

  
 (b) shall, on each date when the outstanding
amount of Advances exceeds the Initial Borrowing Base, make a prepayment of the Advances in an amount equal to such excess; 
  
 (c) shall, immediately upon any acceleration of the maturity date of any Advance pursuant to Section 14.2, repay all Advances,
unless, pursuant to Section 14.2(a), only a portion of all Advances is so accelerated, in which event the Borrower shall repay the accelerated portion of the Advances; and 
  
 (d) shall, on the date the Borrower receives any net proceeds from any Take-Out Securitization, make a
prepayment of the Advances in an amount substantially equal to such net proceeds or, if less, the total outstanding amount of Advances. 
  
 Each such prepayment shall be subject to the payment of any amounts required by Section 6.2 resulting from a prepayment or payment of an Advance
prior to the end of the Fixed Period with respect thereto. 
  
 SECTION 2.7. Extension of Facility. The Borrower may request (in a written notice delivered to the Administrative/Collateral Agent, on or prior to the 30th calendar day, but not earlier than the 90th calendar day, prior to each Scheduled Facility Termination Date) that the Lenders extend the Scheduled Facility Termination Date for successive periods of 364 days. The Scheduled Facility Termination Date shall be extended
accordingly if the Administrative/Collateral Agent (acting pursuant to the instructions of all the Lenders, which instructions may be given or withheld in their sole and absolute discretion) notifies the Borrower that the then-current Scheduled
Facility Termination Date shall be so extended for a period of 364 days. If any Lender instructs the Administrative/Collateral Agent not to extend such date or fails to give the Administrative/Collateral Agent any instruction with respect to any
such request, the Administrative/Collateral Agent shall notify the Borrower that the Lenders have declined the request of the Borrower and the Scheduled Facility Termination Date shall not be so extended. If no such notice is received by the
Borrower by the close of business on the 10th calendar day prior to the then-current Scheduled Facility Termination
Date, the Lenders shall be deemed to 

  

 - 27 - 

 
have declined the request of the Borrower and the Scheduled Facility Termination Date shall not be so extended. 
  
 ARTICLE III 
  
 YIELD, FEES, ETC. 
  
 SECTION 3.1. Yield. The Borrower hereby promises to pay Yield on the unpaid principal amount of each Advance (or each portion thereof) for the
period commencing on the date of such Advance until such Advance is paid in full. No provision of this Agreement or the Notes shall require the payment or permit the collection of Yield in excess of the maximum permitted by applicable law.

  
 SECTION 3.2. Yield Payment Dates. Yield accrued on each
Advance shall be payable, without duplication: 
  
 (a) on the Facility Termination Date; 
  
 (b) on the date of any payment or prepayment, in whole or in part, of principal outstanding on such Advance; and 
  
 (c) on each Distribution Date; provided that Yield relating to such Advance may also be payable, at the option of the Borrower, on
an Interim Distribution Date selected (upon not less than two Business Days’ prior written notice to the Administrative/Collateral Agent) by the Borrower. 
  

SECTION 3.3. Yield Calculation. (a) Interest shall accrue on the Advances during each Accrual Period at the following rates: 
  
 (i) Each Noncommitted Lender’s portion of each Advance
shall bear interest on each day during each Accrual Period at a rate per annum equal to such Noncommitted Lender’s Commercial Paper Rate for such day, except as otherwise provided in clause (ii) below. 
  
 (ii) If and to the extent that, and only for so long as, a
Noncommitted Lender at any time determines in good faith that it is unable to raise or is precluded or prohibited from raising, or that it is not advisable to raise, funds through the issuance of commercial paper notes in the commercial paper market
of the United States to finance its making or maintenance of its portion of any Advance or any portion thereof (which determination may be based on any allocation method employed in good faith by such Noncommitted Lender), including by reason of
market conditions or by reason of insufficient availability under any of its Support Facilities or the downgrading of any of its Support Parties, upon notice from such Noncommitted Lender to the Agent for its Lender Group and the
Administrative/Collateral Agent, such Noncommitted Lender’s portion of such Advance shall bear interest at a rate per annum equal to the Alternative Rate, rather than as otherwise determined pursuant to clause (i) above. 
  

 - 28 - 

 (iii) Each Committed Lender’s portion of each Advance shall bear interest for each
Accrual Period at a rate per annum equal to the Alternative Rate. 
  
 Notwithstanding clauses (i), (ii) and (iii) above, after the date any principal amount of any Advance is due and payable (whether on the Facility Termination Date, upon acceleration or otherwise) or after any other monetary obligation of
the Borrower or the Servicer (only if UACC is the Servicer) arising under this Agreement shall become due and payable, the Borrower or the Servicer (only if UACC is the Servicer), as the case may be, shall pay (to the extent permitted by law, if in
respect of any unpaid amounts representing Yield) Yield (after as well as before judgment) on such amounts, payable on demand, at a rate per annum equal to the Default Rate. 
  
 (b) If (A) the consolidation of the assets and liabilities
of a Noncommitted Lender which is a Structured Lender on the balance sheet of an administrator, manager, credit or liquidity enhancer or similar party with respect to such Lender or any Affiliate of such administrator, manager, credit or liquidity
enhancer or similar party (each, an “SL Affected Party”) shall be required, or capital shall be required to be maintained with respect thereto under any capital requirements as if such assets were owned by such SL Affected Party, by
the Securities and Exchange Commission, any banking regulatory authority or any other domestic or foreign governmental authority having jurisdiction over such SL Affected Party, or (B) the independent auditors for a SL Affected Party shall have
advised such SL Affected Party in writing that in their opinion such consolidation is required under GAAP or applicable law, rule or regulations, then, upon notice by such Lender to the Borrower and the related Agent, such Lender’s Advances
shall bear interest at a rate per annum equal to the Alternative Rate, rather than as otherwise determined pursuant to clause (a) above. 
  
 SECTION 3.4. Fees. The Borrower agrees to pay to the Administrative/Collateral Agent, on behalf of itself, the Agents, the Support Parties and the
Lenders, certain fees in the amounts and on the dates set forth in the letter agreement among the Administrative/Collateral Agent, the Borrower and UACC, dated as of the date hereof (as the same may be amended, supplemented or otherwise modified,
the “Fee Letter”). Fees accrued on each Advance shall be payable, without duplication, on the date of any payment or prepayment, in whole or in part, of principal outstanding on such Advance. The Borrower agrees to pay to the
Custodian certain fees in the amounts and on the dates set forth in the Custodian Fee Letter. 
  
 SECTION 3.5. Computation of Yield and Fees. All Yield and Fees shall be computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for
which such Yield or fee is payable over a year comprised of 360 days (or, in the case of Yield on an Advance bearing Yield on the basis of the Alternate Base Rate, 365 days or, if appropriate, 366 days). The Agent for each Purchaser Group shall
notify the Administrative/Collateral Agent, the Borrower and the Servicer of the Yield and Fees accrued one Business Day prior to each Distribution Date and from time to time upon request of the Administrative/Collateral Agent, the Borrower or
Servicer. 
  

 - 29 - 

 ARTICLE IV 
  
 GUARANTY 
  
 SECTION 4.1. Guaranty of Payment and Performance. The Guarantor hereby guarantees to the Administrative/Collateral Agent (on behalf of the Agents
and the Lenders) the payment and performance, of all liabilities, agreements and other obligations of each UACC, the Seller and the Servicer to the Administrative/Collateral Agent, each Agent, and each of the Lenders under the Transaction Documents,
whether direct or indirect, absolute or contingent, due or to become due, secured or unsecured, now existing or hereafter arising or acquired excluding, however, the payment of the Advances and Fees and Yield thereon (such non-excluded obligations,
collectively, the “Guaranteed Obligations”). The guaranty provided hereunder is an absolute, unconditional and irrevocable guaranty of the full and punctual payment and performance of the Guaranteed Obligations and not of their
collectibility only and is in no way conditioned upon any requirement that the Administrative/Collateral Agent, any Agent or any Lender first attempt to collect any of the Guaranteed Obligations from UACC, the Seller or the Servicer or resort to any
security or other means of obtaining their payment. Should UACC, the Seller or the Servicer default in the payment or performance of any of the Guaranteed Obligations, the obligations with respect to the payment or performance in default of the
Guarantor hereunder shall become immediately due and payable to the Administrative/Collateral Agent (on behalf of the Agents and the Lenders), without demand or notice of any nature, all of which are expressly waived by the Guarantor. Payments by
the Guarantor hereunder may be required by the Administrative/Collateral Agent (on behalf of the Agents and the Lenders), acting at the direction of the Required Lenders, on any number of occasions. 
  
 SECTION 4.2. Agreement to Pay Expenses. The Guarantor agrees, as the
principal obligor and not as a guarantor only, to pay to the Administrative/Collateral Agent, on demand, all reasonable costs and expenses (including court costs and reasonable legal expenses) incurred or expended by the Administrative/Collateral
Agent in connection with enforcement of the obligations of any of the Guarantor under this Article IV from the time such amounts become due until payment, at the rate per annum equal to 2% plus the Alternate Base Rate in effect from time to time;
provided that, if such interest exceeds the maximum amount permitted to be paid under applicable law, then such interest shall be reduced to such maximum permitted amount. 
  
 SECTION 4.3. Unenforceability of Guaranteed Obligations Against UACC, the Seller or the Servicer. If for any reason
UACC, the Seller or the Servicer has no legal existence or is under no legal obligation to discharge any of the Guaranteed Obligations, or if any of the Guaranteed Obligations have become irrecoverable from UACC, the Seller or the Servicer by
operation of law or for any other reason, the guaranty and the primary payment obligation provided under this Article IV shall nevertheless be binding on the Guarantor to the same extent as if the Guarantor at all times had been the principal
obligor on all such Guaranteed Obligations. In the event that acceleration of the time for payment of the Guaranteed Obligations is stayed upon the insolvency, bankruptcy or reorganization of UACC, the Seller or the Servicer, or for any other
reason, all such amounts otherwise subject to acceleration under the terms of any agreement evidencing, securing or otherwise executed in connection with any Guaranteed Obligation (including this Agreement) shall be immediately due and payable by
the Guarantor. 
  

 - 30 - 

 SECTION 4.4. Waiver of Subrogation. Until the termination hereof and the payment and performance
in full of all Guaranteed Obligations and payment in full of the principal of, and interest on, the Advances, the Guarantor shall not exercise any rights against UACC, the Seller or the Servicer arising as a result of payment by the Guarantor under
this Article IV, by way of subrogation or otherwise, and will not prove any claim in competition with the Administrative/Collateral Agent, the Agents or the Lenders in respect of any payment hereunder in bankruptcy or insolvency proceedings
of any nature; the Guarantor will not claim any set-off or counterclaim against UACC, the Seller or the Servicer in respect of any liability of the Guarantor to such Person; the Guarantor waives any benefit of and any right to participate in any
collateral which may be held by the Administrative/Collateral Agent, the Agents or the Lenders; and notwithstanding any other provision to the contrary contained herein, the Guarantor hereby irrevocably waives any and all rights it may have at any
time (whether arising directly or indirectly, by operation of law or by contract) to assert any claim against UACC, the Seller or the Servicer on account of payments made under Article IV, including, without limitation, any and all rights of
or claim for subrogation, contribution, reimbursement, exoneration and indemnity. 
  
 SECTION 4.5. Subordination. The payment of any amounts due with respect to any Indebtedness of UACC, the Seller or the Servicer now or hereafter held by the Guarantor is hereby subordinated to the prior payment
in full of the Guaranteed Obligations, provided that so long as no default in the payment or performance of the Guaranteed Obligations has occurred and is continuing and no Facility Termination Event or Unmatured Facility Termination
Event has occurred and is continuing, and no demand for payment of any of the Guaranteed Obligations has been made that remains unsatisfied, UACC, the Seller and the Servicer may make, and the Guarantor may demand and accept, any payments of
principal of and interest on such subordinated Indebtedness in the amounts, at the rates and on the dates agreed by such Person and the Guarantor, and, if applicable, as specified in such instruments, securities or other writings as shall evidence
such subordinated Indebtedness. The Guarantor agrees that after the occurrence of any default in the payment or performance of the Guaranteed Obligations or a Facility Termination Event or Unmatured Facility Termination Event with respect to payment
of the principal of, and interest on, the Advances, the Guarantor will not demand, sue for or otherwise attempt to collect any such Indebtedness of UACC, the Seller or the Servicer to the Guarantor until the Guaranteed Obligations shall have been
paid in full. If, notwithstanding the foregoing sentence, the Guarantor shall collect, enforce or receive any amounts in respect of such Indebtedness, such amounts shall be collected, enforced and received by the Guarantor as trustee for the Lenders
and be paid over to the Administrative/Collateral Agent (for the benefit of the Lenders) on account of the Guaranteed Obligations without affecting in any manner the liability of the Guarantor under this Article IV. 
  
 SECTION 4.6. Waivers by Guarantor. The Guarantor agrees that the
Guaranteed Obligations will be paid and performed strictly in accordance with their respective terms regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of the
Administrative/Collateral Agent, the Agents or the Lenders with respect thereto. The Guarantor waives presentment, demand, protest, notice of acceptance, notice of Guaranteed Obligations incurred and all other notices of any kind, all defenses which
may be available by virtue of any valuation, stay, moratorium law or other similar law now or 

  

 - 31 - 

 
hereafter in effect, any right to require the marshaling of assets of UACC, the Seller or the Servicer, and all suretyship defenses generally. Without
limiting the generality of the foregoing, the Guarantor agrees to the provisions of any instrument evidencing, securing or otherwise executed in connection with any of the Guaranteed Obligations and agrees that the Guaranteed Obligations shall not
be released or discharged, in whole or in part, or otherwise affected by (i) the failure of the Administrative/Collateral Agent, any Agent or any of the Lenders to assert any claim or demand or to enforce any right or remedy against UACC, the Seller
or the Servicer; (ii) any extensions or renewals of any of the Guaranteed Obligations; (iii) any rescissions, waivers, amendments or modifications of any of the terms or provisions of any agreement evidencing, securing or otherwise executed in
connection with the Guaranteed Obligations, including, without limitation, the Transaction Documents; (iv) the substitution or release of any entity primarily or secondarily liable for any obligation of UACC, the Seller or the Servicer under this
Agreement or the other Transaction Documents; (v) the adequacy of any rights the Agents, the Lenders or the Administrative/Collateral Agent may have against any collateral or other means of obtaining repayment of the Guaranteed Obligations; (vi) the
impairment of any collateral securing the Guaranteed Obligations, including without limitation the failure to perfect or preserve any rights the Administrative/Collateral Agent, the Agents or the Lenders might have in such collateral or the
substitution, exchange, surrender, release, loss or destruction of any such collateral; or (vii) any other act or omission which might in any manner or to any extent vary the risk of the Guarantor or otherwise operate as a release or discharge of
the Guarantor, all of which may be done without notice to the Guarantor. 
  
 ARTICLE V 
  
 PAYMENTS; TAXES 
  
 SECTION 5.1. Making of Payments; Taxes. (a) Subject to, and in
accordance with, the provisions hereof, all payments of principal of, or Yield on, the Advances and of all Fees and other amounts shall be made by the Borrower no later than 2:00 p.m., New York time, on the day when due in lawful money of the United
States of America in immediately available funds to the Administrative/Collateral Agent, at its account (account number –014-196-47 (account name – Trust and Securities Services) maintained at the office of Deutsche Bank Trust Company
Americas, New York, New York (ABA # 021 001 033), reference: UPFC Funding Corp., with telephone notice (including wire number) to the Administrative/Collateral Agent (telephone number 212-250-5996)), or such other account as the
Administrative/Collateral Agent shall designate in writing to the Borrower (the “Administrative/Collateral Agent’s Account”). Payments received by the Administrative/Collateral Agent after 2:00 p.m., New York time, on any day
will be deemed to have been received by the Administrative/Collateral Agent on its next following Business Day. The Administrative/Collateral Agent shall, upon receipt of such payments, promptly remit such payments (in the same type of funds
received by the Administrative/Collateral Agent) to the Agent for each Lender Group and pro rata among the Lender Groups on the basis of the respective amounts owing to such Lender Groups of the Obligations to which such payments
relate. Each Agent shall allocate to the Lenders in its Lender Group each payment in respect of the Advances received by such Agent as provided herein. Payments in reduction of the principal amount of the Advances shall be allocated and 

  

 - 32 - 

 
applied to Lenders pro rata based on their respective portions of such Advances, or in any such case in such other proportions as each affected Lender may
agree upon in writing from time to time with such Agent and the Borrower. Payments of Yield shall be allocated and applied to Lenders pro rata based upon the respective amounts of interest due and payable to them, determined as provided above in
subsection 3.3(a). Payments of the “Usage Fee” (as defined in the Fee Letter) shall be allocated and paid to Lenders pro rata based upon their respective principal interests in the Advances for the applicable Accrual Period. Payments of
the “Program Fee” (as defined in the Fee Letter) shall be allocated and paid to the Agent for each Lender Group pro rata based on the aggregate Commitments of the Lenders in such Lender Group. Each Lender in a Lender Group shall be
entitled to receive the share of the Program Fee allocated to such Lender Group as may be agreed upon from time to time between such Lender and the Agent for such Lender Group. 
  
 (b) All payments described in Section 5.1(a) and all other payments made by or on behalf of the Borrower, the Seller,
UACC, the Guarantor, UPFC or the Servicer (so long as UACC is the Servicer) to the Administrative/Collateral Agent for the benefit of itself, the Agents or the Lenders or to any other Affected Person under this Agreement and any other Transaction
Document shall be made free and clear of, and without deduction or withholding for or on account of, any present or future income, stamp or other taxes, levies, imposts, duties, charges, fees, deductions or withholdings, now or hereafter imposed,
levied, collected, withheld or assessed by any Official Body (excluding (i) taxes imposed on the net income of the Administrative/Collateral Agent or such other Affected Person, however denominated, and (ii) franchise taxes imposed on the net
income of the Administrative/Collateral Agent or such other Affected Person in each case imposed: (1) by the United States or any political subdivision or taxing authority thereof or therein; (2) by any jurisdiction under the laws of which the
Administrative/Collateral Agent or such Affected Person or its applicable lending office is organized or located, managed or controlled or in which its principal office is located or any political subdivision or taxing authority thereof or therein;
or (3) by reason of any connection between the jurisdiction imposing such tax and the Administrative/Collateral Agent, such Affected Person or such lending office other than a connection arising solely from this Agreement or any other Transaction
Document or any transaction hereunder or thereunder) (all such non-excluded taxes, levies, imposts, duties, charges, fees, deductions or withholdings, collectively or individually, “Taxes”). If any such Taxes are required to be
withheld from any amounts payable to the Administrative/Collateral Agent or any other Affected Person hereunder or under any other Transaction Document, the amounts so payable to the Administrative/Collateral Agent or such Affected Person shall be
increased to the extent necessary to yield to the Administrative/Collateral Agent or such Affected Person (after payment of all Taxes) all amounts payable hereunder or thereunder at the rates or in the amounts specified in this Agreement and the
other Transaction Documents. The Borrower (or the party required to “gross-up” the applicable payment) and UPFC, jointly and severally, shall indemnify the Administrative/Collateral Agent or any such Affected Person for the full amount of
any such Taxes on the Settlement Date occurring after the date of written demand therefor by the Administrative/Collateral Agent; provided that no Person shall be indemnified pursuant to this Section 5.1(b) to the extent the reason for
such indemnification relates to, or arises from, the failure by such Person to comply with the provisions of Section 5.1(c). 
  

 - 33 - 

 (c) Each Affected Person that is not incorporated under the laws of the United States of America or a
state thereof or the District of Columbia shall: 
  
 (i) prior to becoming a party to, or acquiring an interest in, any Transaction Document or Noncommitted Lender Liquidity Arrangement (if not a party to a Transaction Document), deliver to the Borrower and the Administrative/Collateral Agent
(A) two duly completed copies of Form W-8ECI or Form W-8BEN, or successor applicable form, as the case may be, and (B) an IRS Form W-9, or successor applicable form, as the case may be; and 
  
 (ii) deliver to the Borrower and the
Administrative/Collateral Agent two (2) further copies of any such form or certification on or before the date that any such form or certification expires or becomes obsolete and after the occurrence of any event requiring a change in the most
recent form previously delivered by it to the Borrower and the Administrative/Collateral Agent; 
  
 unless, in any such case, an event (including, without limitation, any change in treaty, law or regulation) has occurred after the Effective Date and prior to the date on which any such delivery would otherwise
be required which renders all such forms inapplicable or which would prevent such Affected Person from duly completing and delivering any such form with respect to it, and such Affected Person so advises the Borrower and the
Administrative/Collateral Agent. Each such Affected Person so organized shall certify (i) in the case of a Form W-8ECI or Form W-8BEN, that it is entitled to receive payments under the this Agreement and the other Transaction Documents without
deduction or withholding of any United States federal income taxes and (ii) in the case of an IRS Form W-9, that it is entitled to an exemption from United States backup withholding tax. Each Person that desires to become an additional party to a
Noncommitted Lender Liquidity Arrangement, shall, prior to the effectiveness of such addition, be required to provide all of the forms and statements required pursuant to this Section 5.1(c) unless such Person has previously delivered such
forms in its capacity as a party to a Transaction Document. 
  
 SECTION 5.2. Application of Certain Payments. Each payment of principal of the Advances shall be applied to such Advances as the Borrower shall direct or, in the absence of such direction or during the existence of a Facility
Termination Event or after the Facility Termination Date, as the Required Lenders shall determine, in their discretion. 
  
 SECTION 5.3. Due Date Extension. If any payment of principal or Yield with respect to any Advance falls due on a day which is not a Business Day,
then such due date shall be extended to the next following Business Day, and additional Yield shall accrue and be payable for the period of such extension at the rate applicable to such Advance. 
  
 ARTICLE VI 
  
 INCREASED COSTS, ETC. 
  
 SECTION 6.1. Increased Costs. If due to the introduction of or any change in or in the interpretation of any law or regulation occurring or issued
after the date hereof, any Agent, any 

  

 - 34 - 

 
Lender or other Investor, any Support Party, or any of their respective Affiliates (each an “Affected Person”) determines that compliance
with any law or regulation or any guideline or request from any central bank or other Official Body (whether or not having the force of law) affects or would affect the amount of capital required or expected to be maintained by such Affected Person
and such Affected Person determines that the amount of such capital is increased by or based upon the existence of its obligations or commitments hereunder or with respect hereto or to the funding thereof and other obligations or commitments of the
same type (other than any increase in cost resulting solely from a consolidation event described in Section 3.3(b) but only if the Borrower is liable for the payment of the increased rate of interest under such Section 3.3(b)),
then, upon demand by such Affected Person (with a copy to the Administrative/Collateral Agent) (which demand shall be accompanied by a statement setting forth the basis for the calculations of the amount being claimed), the Borrower agrees to
pay to the Administrative/Collateral Agent, for the account of such Affected Person (as a third-party beneficiary), on the Distribution Date following the date on which such Affected Person provides notice of such event to the Borrower and the
Servicer (provided that such notice is delivered on or prior to the third Business Day prior to such Distribution Date and otherwise on the Distribution Date following such Distribution Date), subject to and in accordance with the priorities set
forth in Section 9.5(a), additional amounts sufficient to compensate such Affected Person in the light of such circumstances, to the extent that such Affected Person reasonably determines such increase in capital to be allocable to the
existence of any of such obligations, commitments or fundings. Such written statement shall, in the absence of manifest error, be rebuttably presumptive evidence of the subject matter thereof. Any Affected Person claiming any additional amounts
payable pursuant to this Section 6.1 agrees to use reasonable efforts (consistent with legal and regulatory restrictions) to designate a different office or branch of such Affected Person as its lending office or take such other actions if
the making of such a designation or taking of such other actions would avoid the need for, or reduce the amount of, any such additional amounts and would not, in the reasonable judgment of such Affected Person, be otherwise disadvantageous to such
Affected Person. 
  
 SECTION 6.2. Funding Losses. The
Borrower hereby agrees that upon demand by any Affected Person (which demand shall be accompanied by a statement setting forth the basis for the calculations of the amount being claimed) it will indemnify such Affected Person against any net loss or
expense which such Affected Person may sustain or incur (including, without limitation, any net loss or expense incurred by reason of or resulting from interest to accrue on the related commercial paper after the date of any failed borrowing,
payment or prepayment of an Advance or from the liquidation or reemployment of deposits or other funds acquired by such Affected Person to fund or maintain any Advance to the Borrower), as reasonably determined by such Affected Person, as a result
of any failure by the Borrower to borrow an Advance on the date specified therefor in an Advance Request (other than due to a default by a Lender) or as a result of any payment or prepayment (including any mandatory prepayment) of any Advance on a
date other than the last day of the Fixed Period for such Advance. Such written statement shall, in the absence of manifest error, be rebuttably presumptive evidence of the subject matter thereof. 
  

 - 35 - 

 SECTION 6.3. Replacement of Affected Person. Upon the receipt by the Borrower of a claim for
reimbursement or compensation under Section 6.1 hereof by an Affected Person, if payment thereof shall not be waived by such Affected Person, the Borrower may (a) request such Affected Person or the Lender that has assigned an interest in its
Advances to such Affected Person to use reasonable efforts to assist the Borrower in its attempt to obtain a replacement bank, financial institution or Structured Lender, as applicable, satisfactory to the Borrower (in the case of a replacement
Lender), to acquire and assume all or a ratable part of such Affected Person’s commitment to make Advances, Advances, or interests therein, or (b) request one or more of the other Lenders or Investors to acquire and assume all or a part of such
Affected Person’s commitment to make Advances, Advances or interests therein. Upon notice from the Borrower, such Affected Person shall, or the Lender that has assigned an interest in its Advances to such Affected Person shall cause such
Affected Person to, assign, without recourse, its commitment to make Advances, Advances or interests therein and its other rights and obligations (if any) hereunder, or a ratable share thereof, to the replacement bank, financial institution or
Structured Lender designated by the Borrower and consented to by the Administrative/Collateral Agent for a purchase price equal to the sum of the principal amount of the Advances or interests therein so assigned, all accrued and unpaid Yield thereon
and any other amounts (including Fees and any amounts owing under this Article VI) to which such Affected Person is entitled hereunder; provided, that the Borrower shall provide such Affected Person with an Officer’s Certificate
of UACC stating that such replacement bank, financial institution or Structured Lender has advised the Borrower that it is not subject to, or has agreed not to seek, such increased amount. 
  
 ARTICLE VII 
  
 EFFECTIVENESS; CONDITIONS TO ADVANCES 
  
 SECTION 7.1. Effectiveness. This Agreement shall become effective on the first day (the “Effective
Date”) on which the Administrative/Collateral Agent, on behalf of the Lenders, shall have received the following, each in form and substance satisfactory to each Agent: 
  
 (a) Agreement. This Agreement executed by each party thereto; 
  
 (b) Notes. For each Lender Group, a Note duly
completed and executed by the Borrower and payable to the Agent for such Lender Group; 
  
 (c) Fee Letter. The Fee Letter, duly executed and delivered by the parties thereto, and evidence that all amounts required to be
paid on the Effective Date thereunder shall have been paid; 
  
 (d) [reserved] 
  
 (e) Transaction Documents. Executed counterparts of each of the other Transaction Documents, the Backup Servicer Fee Letter, the Administrative/Collateral Agent Fee Letter and the Custodian Fee Letter, duly executed by each of the
parties thereto; 
  

 - 36 - 

 (f) Resolutions. A copy of the resolutions of the Board of Directors (or similar
items) of each of the Borrower, UPFC and UACC approving the Transaction Documents to be delivered by it hereunder and the transactions contemplated hereby, certified by its Secretary or Assistant Secretary; 
  
 (g) Charters. The Articles of Incorporation of each
of the Borrower and UACC certified by the Secretary of State of its jurisdiction of organization; and a certified copy of the Borrower’s, UPFC’s and UACC’s by-laws or the equivalent; 
  
 (h) Good Standing Certificates. Good Standing
Certificates for each of the Borrower, UPFC and UACC issued by the applicable Official Body of its jurisdiction of organization; 
  
 (i) Incumbency. A certificate of the Secretary or Assistant Secretary of each of the Borrower, UPFC and UACC certifying the names
and true signatures of the officers authorized on its behalf to sign this Agreement and the other Transaction Documents to be delivered by it; 
  
 (j) Filings. Acknowledgment copies of proper Financing Statements, as may be necessary or, in the opinion of the Required Lenders,
desirable under the UCC of all appropriate jurisdictions or any comparable law to perfect the security interest of the Administrative/Collateral Agent on behalf of the Secured Parties in all Borrower Collateral in which an interest may be pledged
hereunder; 
  
 (k) Searches. Certified
copies of Requests for Information or Copies (Form UCC-11) (or a similar search report certified by a party acceptable to each Agent), dated a date reasonably near to the date of the initial Advance, listing all effective financing statements which
name the Borrower or UACC (under their respective present names and any previous names) as debtor and which are filed in the jurisdictions in which filings were made pursuant to Section 7.1(j), together with copies of such financing
statements; 
  
 (l) Opinions. Legal
opinion(s) of Mitchell Silberberg & Knupp LLP, special counsel for the Borrower, UPFC and UACC, and of external counsel for the Custodian, Administrative/Collateral Agent and the Backup Servicer, each in form and substance satisfactory to each
Agent covering such matters as any Agent may reasonably request; 
  
 (m) [reserved] 
  
 (n) Commercial Paper Ratings. Evidence satisfactory to each initial Lender which is a Structured Lender that its acquisition of Notes hereunder will not result in a reduction or withdrawal of the rating of its commercial paper notes
by Moody’s, Standard & Poor’s or any other nationally recognized rating agency rating its commercial paper notes; 
  
 (o) Term Securitization. Evidence that UACC shall have closed its initial public term securitization of Contracts; 
  

 - 37 - 

 (p) Accountants’ Letter. A report of a firm of nationally recognized
independent certified public accountants on the application of the agreed upon procedures in substantially the form of Exhibit D and in form and substance satisfactory to each Agent; and 
  
 (q) Other. Such other approvals, documents, opinions, certificates and reports, including, without
limitation, a review by an independent accountant of the Contract Files and the books and records of the Servicer and the Borrower, as any Agent may reasonably request. 
  
 SECTION 7.2 All Advances. The making of each Advance (including the initial Advance) is subject to the condition that
the Effective Date shall have occurred and to the following further conditions precedent that: 
  
 (a) No Facility Termination Event, etc. Each of the Transaction Documents shall be in full force and effect and (i) no Facility
Termination Event or Unmatured Facility Termination Event has occurred and is continuing or will result from the making of such Advance, (ii) the representations and warranties of the Borrower, UPFC, the Servicer and the Seller contained herein are
true and correct as of the date of such requested Advance, with the same effect as though made on the date of (and after giving effect to) such Advance, (iii) after giving effect to such Advance, the aggregate outstanding principal balance of the
Advances hereunder will not exceed the lesser of the Facility Limit and the Initial Borrowing Base and (iv) the Backup Servicer shall not have been appointed as successor Servicer; 
  
 (b) Advance Request, etc. The Administrative/Collateral Agent shall have received the Advance Request
for such Advance in accordance with Section 2.2, together with all items required to be delivered in connection therewith; 
  
 (c) Facility Termination Date. The Facility Termination Date shall not have occurred; 
  
 (d) Minimum Advance Amount. The amount of such
Advance is not less than $5,000,000; 
  
 (e)
Custodial Receipt. The Administrative/Collateral Agent shall have received a duly completed and executed Custodial Receipt in respect of each Transferred Contract identified in the related Schedule of Contracts or Schedule of Subsequent
Contracts, as the case may be, if any, submitted with the Advance Request for such Advance; 
  
 (f) Portfolio Review. The Administrative/Collateral Agent shall have received the results of the most recent review required to be
made by the Independent Accountants pursuant to Section 8.7, which review shall contain no exceptions unacceptable to the Required Lenders in their reasonable discretion, any finding of 

  

 - 38 - 

 
unacceptability to be evidenced by written notice by the Required Lenders to the Administrative/Collateral Agent; 
  
 (g) Borrowing Base Confirmation. The
Administrative/Collateral Agent shall have received a duly completed and executed certificate regarding the Initial Borrowing Base in the form attached hereto as Exhibit C (a “Borrowing Base Confirmation”), computed as of the
date of such Advance and after giving effect thereto and to the purchase by the Borrower of any Contracts to be purchased by it under the Sale and Servicing Agreement on such date, demonstrating that the aggregate principal amount of all Advances
shall not exceed the Initial Borrowing Base; 
  
 (h) Interest Rate Caps; Cap Funding Reserve Account. The Administrative/Collateral Agent shall have received evidence, in form and substance satisfactory to the Required Lenders, that the Borrower has arranged for the
Administrative/Collateral Agent to enter into Interest Rate Caps to the extent required by, and satisfying the requirements of, Section 11.6, and after giving effect to the Advance, to the transfer of Contracts from the Seller to the Borrower
on the date of such Advance and the application of the proceeds thereof in accordance with Section 2.3, the amount on deposit in the Cap Funding Reserve Account is not less than the Cap Funding Reserve Account Requirement, if any; 

 
 (i) Reserve Account. The Administrative/Collateral
Agent shall have received evidence, in form and substance satisfactory to the Required Lenders, that, after giving effect to the Advance on the Effective Date, to the transfer of Contracts from the Seller to the Borrower on such date and the
application of the proceeds thereof in accordance with Section 2.3, the amount on deposit in the Reserve Account is not less than the Required Reserve Account Amount and that all amounts required to be deposited in the Borrower Accounts
pursuant to the Sale and Servicing Agreement and this Agreement on such date have been so deposited; 
  
 (j) Ratings. The Notes shall remain rated at least BBB by Standard & Poor’s and Baa2 by Moody’s; 
  
 (k) Net Spread. The Net Spread — Senior for the
Eligible Contracts which are Transferred Contracts shall not be less than 13.5% and the Net Spread – All-In for the Eligible Contracts which are Transferred Contracts shall not be less than 0%; 
  
 (l) Cash Collection Rate. The average of the Cash
Collection Rates for the three most recently completed Collection Periods shall not be less than 20.75%. As used herein, “Cash Collection Rate” means, with respect to any Collection Period, the ratio of (i) the product of (A) 12 and
(B) the amount deposited during such Collection Period in the Collection Account which represented interest collections on Transferred Contracts to (ii) the average Initial Borrowing Base during such Collection Period; 
  
 (m) Support Facilities. In the case of any Lender
which is a Structured Lender, such Lender’s Support Facilities shall be in full force and effect; 
  

 - 39 - 

 (n) Borrower’s Certification. The Borrower shall have delivered to the
Administrative/Collateral Agent an Officer’s Certificate dated the date of such requested Advance certifying that the conditions described in subsections 7.2(a) through 7.2(l) have been satisfied; and 
  
 (o) Other. The Administrative/Collateral Agent shall
have received such other approvals, documents, opinions, certificates and reports as it may reasonably request at the direction of the Required Lenders. 
  
 ARTICLE VIII 
  
 ADMINISTRATION AND SERVICING OF RECEIVABLES 
  
 SECTION 8.1. Duties of the Servicer. The Servicer shall manage, service, administer and make collections on the Transferred Contracts and perform
the other actions required by the Servicer under the terms and provisions of the Sale and Servicing Agreement and this Agreement. Upon the occurrence of a Level 3 Trigger Event (as defined in the Spread Account Agreement dated as of September 22,
2004 among UPFC Auto Receivables Trust 2004-A, as issuer, AMBAC Assurance Corporation, as insurer, and Deutsche Bank Trust Company Americas, as trustee), the Servicer shall within 30 days send notice to the Obligors that payments must be mailed to
the Servicer’s service provider. 
  
 SECTION 8.2.
Representations and Warranties of the Servicer. The Servicer represents, warrants and covenants as of the Effective Date and as of the date of each Advance as to itself: 
  
 (a) Organization and Good Standing. It has been duly organized and is validly existing as a
corporation in good standing under the laws of its jurisdiction of organization, with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is currently conducted, and had at
all relevant times, and now has, power, authority and legal right to enter into and perform its obligations under this Agreement and the other Transaction Documents to which it is a party; 
  
 (b) Due Qualification. It is duly qualified to do
business as a foreign corporation in good standing and has obtained all necessary licenses and approvals in all jurisdictions where the failure to do so would have a material adverse effect on its ability to perform its obligations under its
Transaction Documents and its ability to enforce the Transferred Contracts and the other Borrower Collateral; 
  
 (c) Power and Authority. It has the power and authority to execute and deliver this Agreement and the Transaction Documents to
which it is a party (in any capacity) and to carry out its terms and their terms; and the execution, delivery and performance of this Agreement and the Transaction Documents to which it is a party (in any capacity) have been duly authorized by the
Servicer by all necessary corporate action; 
  

 - 40 - 

 (d) Binding Obligation. This Agreement and the Transaction Documents to which it
is a party (in any capacity) have been executed and delivered by the Servicer and constitute its legal, valid and binding obligations enforceable in accordance with their respective terms, except as enforceability may be limited by bankruptcy,
insolvency, reorganization, or other similar laws affecting the enforcement of creditors’ rights generally and by equitable limitations on the availability of specific remedies, regardless of whether such enforceability is considered in a
proceeding in equity or at law; 
  
 (e) No
Violation. The execution, delivery and performance of this Agreement and the Transaction Documents to which it is a party (in any capacity), the consummation of the transactions contemplated thereby and the fulfillment of the terms thereof do
not (A) conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under, its certificate of incorporation or bylaws, or any indenture, agreement, mortgage, deed of
trust or other instrument to which it is a party or by which it or its properties are bound, (B) result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement, mortgage, deed of
trust or other instrument, other than this Agreement and the other Transaction Documents, or (c) violate any law, order, rule or regulation applicable to it of any Official Body having jurisdiction over it or any of its properties; 
  
 (f) No Proceedings. There are no proceedings or
investigations pending or, to the best of its knowledge, threatened against it, before any Official Body having jurisdiction over it or its properties (A) asserting the invalidity of any of the Transaction Documents, (B) seeking to prevent the
issuance of the Notes or the consummation of any of the transactions contemplated by the Transaction Documents, (C) seeking any determination or ruling that would have a material adverse effect on the performance by it of its obligations under, or
the validity or enforceability of, any of the Transaction Documents or (D) that could have a material adverse effect on the Contracts Collateral or (E) seeking to materially and adversely affect the federal income tax or other federal, state or
local tax attributes of the Notes or seeking to impose any excise, franchise, transfer or similar tax upon the Notes or the sale and assignment of the Transferred Contracts hereunder; 
  
 (g) No Consents. No consent, license, approval, authorization or order of, or registration,
declaration or filing with, any Official Body or other Person is required to be made in connection with the execution, delivery or performance of this Agreement and the Transaction Documents to which it is a party (in any capacity) or the
consummation of the transactions contemplated thereby, except such as have been duly made, effected or obtained; 
  
 (h) Taxes; ERISA. The Servicer has filed on a timely basis all tax returns (including, without limitation, foreign, federal, state,
local and otherwise) required to be filed, is not liable for taxes payable by any other Person and has paid or made adequate provisions for the payment of all taxes, assessments and other governmental charges due from the Servicer. No tax lien or
similar adverse claim has been filed, and no claim is 

  

 - 41 - 

 
being asserted, with respect to any such tax, assessment or other governmental charge. Any taxes, fees and other governmental charges payable by the Servicer
in connection with the execution and delivery of this Agreement and the other Transaction Documents and the transactions contemplated hereby or thereby have been paid or shall have been paid if and when due at or prior to the relevant Purchase Date.
Each benefit plan, if any, of the Servicer that is a “defined benefit” plan as defined in Section 3(35) of ERISA is in compliance in all material respects with ERISA and there is no Lien of the Pension Benefit Guaranty Corporation on any
of the Contracts Collateral; 
  
 (i)
Investment Company Status. It is not an “investment company” within the meaning of the Investment Company Act of 1940, as amended, or is exempt from all provisions of such Act; 
  
 (j) Information True and Correct. All information
heretofore or hereafter furnished by or on behalf of the Servicer in writing to the Borrower, any Lender, any Agent or the Administrative/Collateral Agent in connection with this Agreement or any transaction contemplated hereby is and will be true
and complete in all material respects and does not and will not omit to state a material fact necessary to make the statements contained therein not misleading; and 
  
 (k) Other Documents. The representations and warranties made by it (in any capacity) in each of the
other Transaction Documents to which it is a party are true and correct in all material respects as of the date(s) made. 
  
 SECTION 8.3. Covenants of the Servicer. The Servicer covenants and agrees to comply with covenants made by it (in any capacity) in each of the
other Transaction Documents to which it is a party. 
  
 SECTION
8.4. Servicing Fee; Payment of Certain Expenses by Servicer; Backup Servicer Fee. On each Distribution Date, the Servicer shall be entitled to receive out of the Collection Account the Servicing Fee for the related Collection Period pursuant
to Section 9.5. The Servicer shall be required to pay all expenses incurred by it in connection with its activities under this Agreement and the Sale and Servicing Agreement; provided, however, that if the Backup Servicer shall
have become the successor Servicer, the Servicer shall be entitled to reimbursement of its expenses as specified in the Backup Servicer Fee Letter and Section 9.5. On each Distribution Date, the Backup Servicer shall be entitled to receive
out of the Collection Account the Backup Servicer Fee for the related Collection Period pursuant to Section 9.5. 
  
 SECTION 8.5. Distribution Date Statement. No later than 2:00 p.m., New York City time, on each Servicer Report Date, the Servicer shall deliver to
the Administrative/Collateral Agent and the Backup Servicer a Distribution Date Statement executed by a Responsible Officer of the Servicer. The parties hereto acknowledge that the basis for calculating Yield on the Advances may change between the
date the Servicer delivers a Distribution Date Statement and the related Distribution Date and that the amount the Servicer sets forth in a Distribution Date Statement as Yield accrued on the Advances as of the related Distribution Date is its good
faith estimate of such Yield; in the event of any change in calculating Yield during such period of 

  

 - 42 - 

 
time, the parties agree to use reasonable efforts to revise the Distribution Date Statement on or prior to such Distribution Date to reflect such changes,
provided that if such revisions are not made by such time, then appropriate corrections shall be made on the next Distribution Date. 
  
 SECTION 8.6. Annual Statement as to Compliance; Notice of Servicer Default. 
  
 (a) The Servicer shall deliver to Administrative/Collateral Agent and the Backup Servicer on or before April
30 (or 120 days after the end of the Servicer’s fiscal year, if other than December 31) of each year, beginning on April 30, 2005, an officer’s certificate signed by any Responsible Officer of the Servicer, dated as of the preceding
December 31 (or other applicable date), stating that (i) a review of the activities of the Servicer during the preceding 12-month period (or such other period as shall have elapsed from the Effective Date to the date of the first such certificate)
and of its performance under this Agreement has been made under such officer’s supervision, and (ii) to such officer’s knowledge, based on such review, the Servicer has fulfilled all its obligations under this Agreement throughout such
period, or, if there has been a default in the fulfillment of any such obligation, specifying each such default known to such officer and the nature and status thereof. 
  
 (b) The Servicer shall deliver to Administrative/Collateral Agent, the Custodian and the Backup Servicer,
promptly after having obtained knowledge thereof, but in no event later than two Business Days thereafter, written notice in an Officers’ Certificate of any event that, with the giving of notice or lapse of time, would become a Servicer Default
or a Facility Termination Event under Section 14.1. 
  
 SECTION 8.7. Annual Independent Accountants’ Report. The Servicer shall cause a firm of nationally recognized independent certified public accountants (the “Independent Accountants”), who may also render other
services to UPFC, UACC, the Servicer or the Seller, to deliver to the Administrative/Collateral Agent, the Backup Servicer, the Agents and each Rating Agency, on or before March 31 (or 91 days after the end of the Servicer’s fiscal year, if
other than December 31) of each year, beginning on March 31, 2005, with respect to the twelve months ended the immediately preceding December 31 (or other applicable date) (or such other period as shall have elapsed from the Effective Date to the
date of such certificate), a statement (the “Accountants’ Report”) addressed to the Administrative/Collateral Agent, the Backup Servicer and the Agents, to the effect that such firm has audited the consolidated financial
statements of UPFC and issued its report thereon and that (1) such audit was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as such firm
considered necessary in the circumstances; (2) the firm is independent of UPFC, UACC, the Seller and the Servicer within the meaning of the Code of Professional Ethics of the American Institute of Certified Public Accountants, and (3) includes a
report on the application of agreed upon procedures acceptable to the Required Lenders (such procedures to be substantially similar to those set forth in the letter attached as Exhibit D hereto) to (A) three randomly selected Distribution Date
Statements including the delinquency, default and loss statistics required to be specified therein noting whether any exceptions or errors in the Distribution Date Statements were found and (B) a statistically significant number of randomly selected
Contract Files. In the event that such 

  

 - 43 - 

 
Independent Accountants require the Administrative/Collateral Agent or the Backup Servicer to agree to the procedures to be performed by such firm in any of
the reports required to be prepared pursuant to this Section 8.7, the Agents shall direct the Administrative/Collateral Agent or the Backup Servicer in writing to so agree; it being understood and agreed that the Administrative/Collateral Agent or
the Backup Servicer will deliver such letter of agreement in conclusive reliance upon the written direction of the Agents, and the Administrative/Collateral Agent or the Backup Servicer has not made any independent inquiry or investigation as to,
and shall have no obligation or liability in respect of, the sufficiency, validity or correctness of such procedures. Notwithstanding the foregoing, if CenterOne shall become the successor Servicer, such report (A) shall relate only to the Contracts
and CenterOne’s servicing of the Contracts, (B) the fees and expenses of CenterOne associated therewith shall be reimbursable, and (C) the independence of the accountants shall be only with respect to CenterOne and its affiliates 
  
 The Servicer shall promptly deliver to each Agent a copy of the accountants letter delivered
in connection with each Take-Out Securitization. 
  
 SECTION 8.8.
Access to Certain Documentation and Information Regarding Contracts. 
  
 (a) Each of the Borrower, the Seller and the Servicer shall permit representatives of the Administrative/Collateral Agent, each Agent, the Backup Servicer and the Custodian at any time and from time to time during
normal business hours as the Administrative/Collateral Agent, such Agent, the Backup Servicer and the Custodian shall reasonably request, (a) to inspect and make copies of and abstracts from its records relating to the Transferred Contracts, and (b)
to visit its properties in connection with the collection, processing or servicing of the Transferred Contracts for the purpose of examining such records, and to discuss matters relating to the Transferred Contracts or such Person’s performance
under this Agreement and the other Transaction Documents with any officer or employee of such Person having knowledge of such matters. In each case, such access shall be afforded without charge; provided, however, if the Servicer is not UACC, access
on any more than two occasions in any calendar year will bear a charge of $5,000 per occasion. In connection with any inspection, the Administrative/Collateral Agent, any Agent and the Custodian may institute procedures to permit it to confirm the
Obligor balances in respect of any Transferred Contracts. Each of the Borrower, the Seller and the Servicer agrees to render to the Administrative/Collateral Agent, each Agent and the Custodian such clerical and other assistance as may be reasonably
requested with regard to the foregoing. Nothing in this Section 8.8 shall derogate from the obligation of the Borrower, the Seller and the Servicer to observe any applicable law prohibiting disclosure of information regarding the Obligors, and the
failure of the Servicer to provide access as a result of such obligation shall not constitute a breach of this Section 8.8. 
  
 (b) The Servicer shall make arrangements for the prompt and safe transfer of, and the Servicer shall provide to the Backup Servicer, all
necessary servicing files and records, including (as deemed necessary by the Backup Servicer at such time): (A) account documentation, (B) servicing system tapes (in a format acceptable to the Backup Servicer), (C) account payment history, (D)
collections history and (E) the trial balances, 

  

 - 44 - 

 
in each case reflecting all applicable loan information, as of the following dates: (1) on an annual basis commencing April 1, 2005, (2) following a Facility
Termination Event under section 14.1, monthly, (3) on the close of business on the day immediately preceding the day on which the Backup Servicer becomes the successor and (4) on any other day requested by the Required Lenders. 
  
 SECTION 8.9. Certain Duties of Backup Servicer. 
  
 (a) On or before each Servicer Report Date, the Servicer
shall deliver to the Administrative/Collateral Agent and the Backup Servicer a computer tape or a diskette or any other electronic transmission in a format acceptable to the Administrative/Collateral Agent and the Backup Servicer containing the
information with respect to the Transferred Contracts as of the related Accounting Date necessary for preparation of the Distribution Date Statement relating to such Servicer Report Date. 
  
 (b) Prior to each such Distribution Date, the Backup
Servicer shall use such tape or diskette (or other means of electronic transmission acceptable to the Administrative/Collateral Agent and the Backup Servicer) and review the related Distribution Date Statement in order to perform the following:

  

	 	(i)	confirm that the Distribution Date Statement is complete on its face or note any discrepancies; 

  

	 	(ii)	review the Aggregate Outstanding Principal Balance of the Transferred Contracts, all Monthly P&I collected on or in respect of the Contracts, the Delinquency Ratio, and the Net
Loss Ratio; and 

  

	 	(iii)	verify the mathematical accuracy of any calculations on the face of the Distribution Date Statement or note any discrepancies. 

  
 (c) In the event of any discrepancy between the information
set forth in (ii) or (iii) in clause (b) above as calculated by the Servicer from that determined or calculated by the Backup Servicer, the Backup Servicer shall promptly report such discrepancy to the Servicer and the Administrative/Collateral
Agent. In the event of a discrepancy as described in the preceding sentence, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Distribution Date, but in the absence of a reconciliation,
distributions on the related Distribution Date shall be made by the Administrative/Collateral Agent consistent with the information provided by the Servicer and the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior
to the next Servicer Report Date. If the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to such Distribution Date Statement by the next Servicer Report Date, the Servicer shall cause the Independent Accountants,
at the Servicer’s expense, to examine the Distribution Date Statement and attempt to reconcile the discrepancies at the earliest possible date. The effect, if any, of such reconciliation 

  

 - 45 - 

 
shall be reflected in the Distribution Date Statement for such next succeeding Servicer Report Date. 
  
 (d) Other than the duties specifically set forth in this
Agreement, the Backup Servicer shall have no obligations hereunder, including to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer,
except for the express duties of the Backup Servicer set forth herein. The Backup Servicer shall have no liability for any obligation of the Service or for any error contained in any certificate, notice or data prepared by the Servicer (whether or
not verified by the Backup Servicer), such obligations being solely the obligations of the Servicer. 
  
 (e) Upon appointment of the Backup Servicer as the successor Servicer, its obligations as Backup Servicer shall terminate. 
  
 SECTION 8.10. Consequences of a Servicer Default. If a Servicer
Default shall occur and be continuing, the Administrative/Collateral Agent, acting at the direction of the Required Lenders, by written notice given to the Servicer, may terminate all of the rights and obligations of the Servicer pursuant to the
terms of the Sale and Servicing Agreement and appoint a successor pursuant to the terms thereof. In addition, upon the occurrence of a Servicer Default, the Servicer shall, if so requested by the Administrative/Collateral Agent, acting at the
direction of the Required Lenders, deliver to the Backup Servicer its Monthly Records within two days after demand therefor and a computer tape or diskette (or any other means of electronic transmission acceptable to the Backup Servicer) containing
as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Transferred Contracts. 
  
 SECTION 8.11. Appointment of Backup Servicer as Successor Servicer. On and after the termination of the Servicer
pursuant to Section 8.10, the Backup Servicer (or any other successor Servicer appointed by the Administrative/Collateral Agent) shall be the successor in all respects to the Servicer in its capacity as Servicer under this Agreement and the Sale and
Servicing Agreement and the transactions set forth or provided for in this Agreement and the Sale and Servicing Agreement and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating
thereto placed on the Servicer by the terms and provisions of this Agreement and the Sale and Servicing Agreement. 
  
 Upon the notice to CenterOne that it shall be appointed successor Servicer, CenterOne shall develop a reasonable transition plan and shall be granted a
reasonable period of time, which shall not exceed 90 days, to implement such plan and assume the obligations of the Servicer and the servicing of the Contracts in accordance with its customary servicing procedures, including a reasonable period of
time to hire required personnel, load and configure the necessary information onto its computer systems, establish necessary cash management procedures, locate and contact the obligors to redirect payments, and any other transition related item
required or reasonably necessary to perform its obligations as Servicer or subservicer. 
  

 - 46 - 

 CenterOne shall service the Contracts in its own name from centralized locations using its own personnel
and properties and shall have no liability arising from or responsibility for the personnel or properties of any other or predecessor Servicer. All powers, rights and authorities granted to the Servicer are hereby granted to CenterOne and each of
its Affiliates and agents as are necessary, appropriate or convenient to perform its functions as Servicer or subservicer. If CenterOne shall be a subservicer, the Servicer shall deliver to CenterOne copies of all information delivered to or by it
in its capacity as Servicer, and CenterOne’s obligations and liabilities shall be solely to the Servicer and not to any other party or Person. Any provision of this Agreement or the Sale and Servicing Agreement requiring CenterOne to use best
efforts shall require only reasonable efforts with respect thereto. 
  
 The level of servicing performance provided by CenterOne as successor Servicer is based on and subject to (i) CenterOne maintaining an average of not more than approximately 375 Contracts per dedicated full-time equivalent servicing
associate, together with attendant supervisory personnel ratios in accordance with CenterOne’s customary servicing policies, (ii) centralization of the Contract Files, and (iii) the Obligors’ having been directed to make payments to a
lockbox. In the event that any person desires to decrease the minimum average number of accounts per dedicated full-time equivalent servicing associate, the Servicing Fee and other compensation to CenterOne will be adjusted by mutual consent.

  
 In the event that CenterOne is appointed successor Servicer,
(a) if CenterOne is later removed as Servicer other than due to a Servicer Default with respect to CenterOne that has occurred and is continuing or (b) all or substantially all of the Contracts are sold in connection with Facility Termination Event,
CenterOne shall be entitled to a termination fee, immediately payable in cash as part of the Servicing Fee, in an amount equal to six times the average monthly fees of CenterOne over the preceding four Collection Periods. 
  
 SECTION 8.12. Indemnification of Backup Servicer. Without limiting any
other rights which the Backup Servicer may have hereunder or under applicable law, UPFC agrees to indemnify the Backup Servicer, including in its capacity as successor Servicer, and each of its successors, transferees, participants and assigns and
all officers, directors, shareholders, controlling persons, employees and agents of any of the foregoing, forthwith on demand, from and against any and all damages, losses, claims, liabilities and related costs and expenses, including reasonable
attorneys’ fees and disbursements awarded against or incurred by any of them arising out of or relating to any Transaction Document or the transactions contemplated thereby or the use of proceeds therefrom by the Borrower, the Seller or UACC,
except (a) damages, losses, claims, liabilities, costs and expenses payable to such Person to the extent determined by a court of competent jurisdiction to have resulted from gross negligence or willful misconduct on the part of any such person or
its agent or subcontractor and (b) any tax upon or measured by net income on any such Person. 
  
 SECTION 8.13. Delegation of Duties. The Servicer, including the Backup Servicer as successor Servicer, may at any time appoint a subservicer or subcontractor to perform all or any portion of its obligations as
Servicer hereunder; provided that the Servicer shall obligated and be liable for the performance of such obligations in accordance with the provisions of this Agreement without diminution of such obligations by virtue of the appointment of such

  

 - 47 - 

 
subservicer or subcontractor to the same extent as if the Servicer were alone performing such obligations. 
  
 ARTICLE IX 
  
 ACCOUNTS; PAYMENTS 
  
 SECTION 9.1. Borrower Accounts. 
  
 (a) On or prior to the Effective Date, the Servicer shall establish the Collection Account, the Reserve Account and the Cap Funding
Reserve Account each in the name of the Administrative/Collateral Agent for the benefit of the Secured Parties. The Collection Account, the Reserve Account and the Cap Funding Reserve Account shall each be an Eligible Account which is a segregated
trust account initially established with the Administrative/Collateral Agent. If at any time the Collection Account, the Cap Funding Reserve Account or the Reserve Account ceases to be an Eligible Account, the Administrative/Collateral Agent shall
transfer such account to another institution such that such account shall meet the requirements of an Eligible Account. 
  
 (b) All amounts held in the Collection Account, the Cap Funding Reserve Account and the Reserve Account (collectively, the
“Borrower Accounts”), shall, to the extent permitted by applicable laws, rules and regulations, be invested by the Administrative/Collateral Agent, as directed by the Servicer (so long as UACC is the Servicer) in writing (or, if the
Servicer or UACC fails to provide such direction, amounts in the Collection Account shall be invested in investments described in clause (f) of the definition of Permitted Investments), in Permitted Investments that mature not later than one
Business Day prior to the Distribution Date for the Collection Period to which such amounts relate. Any such written direction shall certify that any such investment is authorized by this Section 9.1. Investments in Permitted Investments
shall be made in the name of the Administrative/Collateral Agent on behalf of the Secured Parties, and, except as specifically required below, such investments shall not be sold or disposed of prior to their maturity. The taxpayer identification
number associated with each Borrower Account shall be that of the Borrower and the Borrower shall report for Federal, state and local income tax purposes, the income, if any, represented by each Borrower Account. If any amounts are needed for
disbursement from the Collection Account, the Cap Funding Reserve Account or the Reserve Account and sufficient uninvested funds are not available therein to make such disbursement, the Administrative/Collateral Agent shall cause to be sold or
otherwise converted to cash a sufficient amount of the investments in such account to make such disbursement upon the direction of the Servicer (so long as UACC is the Servicer) or, if the Servicer or UACC shall fail to give such direction, DBNY.

  
 Subject to the other provisions hereof, the
Administrative/Collateral Agent shall have sole control over each such investment and the income thereon, and any certificate or other instrument evidencing any such investment, if any, shall be delivered directly to the Administrative/Collateral
Agent or its agent, together with each document of transfer, if 

  

 - 48 - 

 
any, necessary to transfer title to such investment to the Administrative/Collateral Agent in a manner that complies with this Section 9.1. All
interest, dividends, gains upon sale and other income from, or earnings on, investments of funds in the Collection Account shall be deposited in the Collection Account and distributed pursuant to Section 9.5. All interest, dividends, gains
upon sale and other income from or earnings on, investments of funds in the Reserve Account shall be deposited in the Reserve Account and distributed pursuant to Section 9.7. All interest, dividends, gains upon sale and other income from or
earnings on, investments of funds in the Cap Funding Reserve Account shall be deposited in the Collection Account and distributed pursuant to Section 9.5. If the Administrative/Collateral Agent is given instructions to invest funds in any of
the Borrower Accounts in investments other than investments of the type described in clause (f) of the definition of “Permitted Investments”, the Person giving such instructions agrees to assist the Administrative/Collateral Agent
in complying with the requirements herein with respect to such investments. 
  
 SECTION 9.2. Servicer Reimbursements. The Servicer shall be entitled to be reimbursed from amounts on deposit in, or to be deposited in, the Collection Account with respect to a Collection Period for amounts
previously deposited in the Collection Account but later determined by the Servicer to have resulted from mistaken deposits or postings or checks returned for insufficient funds. The amount to be reimbursed hereunder shall be paid to the Servicer on
the related Distribution Date pursuant to Section 9.5(a)(iv). Upon the request of the Administrative/Collateral Agent or any Agent, the Servicer shall certify any amount to be reimbursed hereunder and shall supply such other information as
may be necessary in the opinion of the Administrative/Collateral Agent to verify the accuracy of such certification. The Administrative/Collateral Agent shall not be under any obligation to make the request described in the immediately preceding
sentence. 
  
 SECTION 9.3. Application of Collections. With
respect to each Transferred Contract, payments by or on behalf of the Obligor shall be applied to interest and principal thereof to reduce the balance thereof in accordance with the terms of such Transferred Contract and Section 5.02 of the Sale and
Servicing Agreement. 
  
 SECTION 9.4. Additional Deposits.
On or before each Servicer Report Date, the Servicer (so long as UACC is the Servicer) or the Borrower shall deposit into the Collection Account the aggregate Repurchase Amounts with respect to Repurchased Contracts. All such deposits of Repurchase
Amounts shall be made in immediately available funds. On each Distribution Date, the Administrative/Collateral Agent shall withdraw from the Reserve Account such amounts as required to be applied by Section 9.7 and apply such amounts as set
forth in such Section. Upon receipt, the Administrative/Collateral Agent shall remit to the Collection Account any amounts paid by a counterparty under any Interest Rate Cap. 
  
 SECTION 9.5. Distributions. 
  

(a) On each Distribution Date, the Administrative/Collateral Agent shall distribute from the Collection Account, in accordance with the
applicable Distribution 

  

 - 49 - 

 
Date Statement provided by the Servicer, the Amount Available for such Distribution Date in the following order of priority: 
  

	 	(i)	FIRST, from the Amount Available, to the extent not previously paid by UACC or otherwise by or on behalf of the Borrower, to the Custodian, any accrued and unpaid fees and expenses
(including those of its legal counsel) for the related Collection Period pursuant to the Custodian Fee Letter, which expenses shall not exceed the amount of the Capped Fees/Expenses – Custodian; 

  

	 	(ii)	SECOND, from the remaining Amount Available, to the extent not previously paid by UACC or otherwise by or on behalf of the Borrower, to the Administrative/Collateral Agent, any
accrued and unpaid fees and expenses (including those of its legal counsel) for the related Collection Period pursuant to the Administrative/Collateral Agent Fee Letter, which expenses shall not exceed the amount of the Capped Fees/Expenses
–Administrative/Collateral Agent; 

  

	 	(iii)	THIRD, from the remaining Amount Available, to the extent not previously paid by UACC or otherwise by or on behalf of the Borrower, to the Backup Servicer, any accrued and unpaid
fees and expenses pursuant to the Backup Servicer Fee Letter, which expenses shall not exceed the amount of the Capped Fees/Expenses – Backup Servicer; 

  

	 	(iv)	FOURTH, from the remaining Amount Available, to the Servicer, any accrued and unpaid Servicing Fees, any transition expenses payable to a successor Servicer pursuant to the Sale and
Servicing Agreement to the extent not paid by the predecessor Servicer, provided, that such transition expenses, including travel, boarding fees, mailing costs, obligor letters (welcome and goodbye) and document packaging and shipping, shall
not exceed $200,000 in the aggregate (nor shall the boarding fee exceed $5.00 per contract) and the amounts specified in Section 9.2 to the extent the Servicer has not reimbursed itself in respect of such amounts pursuant to Section
9.6; 

  

	 	(v)	 FIFTH, from the remaining Amount Available, to the Administrative/Collateral Agent, on behalf of the Lenders, an amount equal to the lesser of (A) Yield on the
Advances accrued during the Accrual Period with respect to such Distribution Date (and any Yield with respect to any prior Accrual Period to the extent not paid on a prior Distribution Date), and the Fees payable on such Distribution Date pursuant
to the Fee Letter (and any Fees 

  

 - 50 - 

	 	 
due and not paid on a prior Distribution Date) and (B) the Capped Yield/Fee Amount with respect to such Distribution Date; 

  

	 	(vi)	SIXTH, from the remaining Amount Available, to the Administrative/Collateral Agent, on behalf of the Lenders, to repay pursuant to Section 2.6(b) the principal amount of
Advances in an amount equal to the excess, if any, of the then outstanding principal amount of all Advances over the Target Borrowing Base with respect to such Distribution Date; 

  

	 	(vii)	SEVENTH, from the remaining Amount Available, if no Facility Termination Event shall have occurred and be continuing, to the Reserve Account, until the amount on deposit therein is
equal to the Required Reserve Account Amount; 

  

	 	(viii)	EIGHTH, from the remaining Amount Available, if a Facility Termination Event shall have occurred and be continuing, to the Administrative/Collateral Agent, on behalf of the Lenders,
the principal amount of outstanding Advances until such Advances are paid in full; 

  

	 	(ix)	NINTH, from the remaining Amount Available, to the extent not previously paid pursuant to clause FIFTH above, to the Administrative/Collateral Agent, on behalf of the Lenders, an
amount equal to Yield on the Advances accrued during the Accrual Period with respect to such Distribution Date (and any Yield with respect to any prior Accrual Period to the extent not paid on a prior Distribution Date), and the Fees payable on such
Distribution Date pursuant to the Fee Letter (and any Fees due and not paid on a prior Distribution Date); 

  

	 	(x)	TENTH, from the remaining Amount Available, to the Administrative/Collateral Agent, for the benefit of Affected Persons, any Increased Costs then due and owing;

  

	 	(xi)	ELEVENTH, from the remaining Amount Available, to the extent not previously paid by or on behalf of the Borrower, to each Indemnified Party, any Indemnity Amounts then due and owing
to each such Indemnified Party; 

  

	 	(xii)	TWELFTH, from the remaining Amount Available, to the Servicer the accrued and unpaid Subordinate Servicing Fee; 

  

	 	(xiii)	 THIRTEENTH, from the remaining Amount Available, to the extent not previously paid pursuant to clause FIRST, SECOND or THIRD above, pro rata to the Backup
Servicer, the Custodian and 

  

 - 51 - 

	 	 
the Administrative/Collateral Agent, any costs and expenses due to the Backup Servicer, the Custodian and the Administrative/Collateral Agent under the
Transaction Documents; and 

  

	 	(xiv) 	FOURTEENTH, from the remaining Amount Available, to the Borrower. 

  
 (b) On each Interim Distribution Date, the Administrative/Collateral Agent shall, at the written direction of the Servicer (so long as
UACC is the Servicer), withdraw from the Collection Account and distribute the following amounts in the following order of priority: 
  

	 	(i)	FIRST, to the Administrative/Collateral Agent, on behalf of the Lenders, Yield and Fees accrued in respect of the Advances being paid or prepaid on such date; and

  

	 	(ii)	SECOND, to the Administrative/Collateral Agent, on behalf of the Lenders, an amount equal to the Advances being paid or prepaid on such date. 

  
 (c) Amounts withdrawn from the Reserve Account pursuant to
Section 9.7(a), (b) or (c) shall be applied solely to the payments specified in such Section 9.7(a), (b) or (c), as the case may be (notwithstanding any deficiency in amounts available to make payments of
higher priority as set forth in Section 9.5(a)), but only to the extent that the Amount Available with respect to such Distribution Date or Interim Distribution Date (as the case may be), after application as provided above, was insufficient
to make such payment. 
  
 SECTION 9.6. Net Deposits. So
long as no Servicer Default has occurred and is continuing, the Servicer may make the remittances to be made by it pursuant to Sections 9.3 and 9.4 net of amounts (which amounts may be netted prior to any such remittance for a
Collection Period) to be distributed to it pursuant to Section 9.2 or 9.5(a)(iv); provided, however, that the Servicer shall account for all of such amounts in the related Distribution Date Statement as if such amounts
were deposited and distributed separately; and provided, further, that if an error is made by the Servicer in calculating the amount to be deposited or retained by it, with the result that an amount less than required is deposited in
the Collection Account, the Servicer shall make a payment of the deficiency to the Collection Account immediately upon becoming aware, or receiving notice from the Administrative/Collateral Agent or any Agent, of such error. 
  
 SECTION 9.7. The Reserve Account. 
  
 (a) If, on any Distribution Date prior to the Facility
Termination Date, the Amount Available is less than the aggregate amount required to be distributed pursuant to clauses (i), (ii), (iii), (iv), (v), (vi) and (ix) of Section 9.5(a), the Administrative/Collateral Agent shall withdraw (or, if
the Reserve Account shall not at such time be maintained by 

  

 - 52 - 

 
the Administrative/Collateral Agent, the Administrative/Collateral Agent shall direct the holder of the Reserve Account to withdraw) the amount of such
deficiency (but not in excess of the amount required to be distributed pursuant to clauses (v), (vi) and (ix) of Section 9.5(a)), up to the amount available in the Reserve Account, from the Reserve Account and shall apply such amount directly
(and solely) to any unpaid amounts described in clauses (v), (vi) (but only to the extent the then outstanding principal amount of all Advances exceeds the Initial Borrowing Base) and (ix) of Section 9.5(a) in the order of priority and in the
manner set forth in such clauses of Section 9.5(a). 
  
 (b) If, on any Interim Distribution Date prior to the Facility Termination Date, the amount withdrawn from the Collection Account is less than the aggregate amount required to be distributed pursuant to clauses (i)
and (ii) of Section 9.5(b), the Administrative/Collateral Agent shall withdraw (or, if the Reserve Account shall not at such time be maintained by the Administrative/Collateral Agent, the Administrative/Collateral Agent shall direct the
holder of the Reserve Account to withdraw) the amount of such deficiency, up to the amount available in the Reserve Account, from the Reserve Account and apply such amount to any unpaid amounts described in clauses (i) and (ii) of Section
9.5(b) in the order of priority and in the manner set forth in such clauses of Section 9.5(b). 
  
 (c) If, on the Facility Termination Date, the Amount Available is less than the aggregate amount required to be distributed pursuant to
clauses (i), (ii), (iii), (iv), (v), (vi), (viii) and (ix) of Section 9.5(a), the Administrative/Collateral Agent shall withdraw (or, if the Reserve Account shall not at such time be maintained by the Administrative/Collateral Agent, the
Administrative/Collateral Agent shall direct the holder of the Reserve Account to withdraw) the amount of such deficiency (but not in excess of the amount required to be distributed pursuant to clauses (v), (vi), (viii) and (ix) of Section
9.5(a)), up to the amount available in the Reserve Account, from the Reserve Account and shall apply such amount directly (and solely) to any unpaid amounts described in clauses (v), (vi), (viii) and (ix) of Section 9.5(a) in the order of
priority and in the manner set forth in such clauses of Section 9.5(a). After making the withdrawal required by this Section 9.5(c), the Reserve Account shall be closed and any remaining funds in the Reserve Account shall be deposited
in the Collection Account to be applied as part of the Amount Available on such Facility Termination Date. 
  
 (d) On each Distribution Date prior to the Facility Termination Date and based solely on the Distribution Date Statement for such
Distribution Date, the Administrative/Collateral Agent shall withdraw from the Reserve Account the amount on deposit in the Reserve Account in excess of the Required Reserve Account Amount (after giving effect to all distributions to be made on such
Distribution Date pursuant to Section 9.5(a), and any withdrawals to be made from the Reserve Account pursuant to Section 9.7(a)) and deposit such amount in the Collection Account (and such amount shall constitute a part of the Amount
Available with respect to such Distribution Date). 
  

 - 53 - 

 ARTICLE X 
  
 REPRESENTATIONS AND WARRANTIES 
  
 In order to induce the other parties hereto to enter into this Agreement and, in the case of the Lenders, to make Advances hereunder, each of the
Borrower, the Guarantor and the Seller hereby represents and warrants to the Administrative/Collateral Agent, the Backup Servicer and the Investors as to itself, as of the Effective Date and the date of each Advance (unless otherwise indicated), as
follows: 
  
 SECTION 10.1. Organization and Good Standing.
It has been duly organized and is validly existing under the laws of the jurisdiction of its organization, with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is
currently conducted. It had at all relevant times and now has, power, authority and legal right (x) in the case of the Borrower, to acquire and own the Transferred Contracts and the Other Conveyed Property, and to grant to the
Administrative/Collateral Agent a security interest in the Transferred Contracts, the Other Conveyed Property and the other Borrower Collateral and (y) in the case of the Borrower, the Guarantor and the Seller, to enter into and perform its
obligations under this Agreement and the other Transaction Documents to which it is a party. 
  
 SECTION 10.2. Due Qualification. It is duly qualified to do business and has obtained all necessary licenses and approvals in all jurisdictions where the failure to do so would have a material adverse effect on
(i) its ability to perform its obligations under this Agreement, (ii) the validity or enforceability of the Contracts and the Other Conveyed Property or (iii) its ability to perform its obligations hereunder and under its Transaction Documents.

  
 SECTION 10.3. Power and Authority. It has the power and
authority to execute and deliver this Agreement and the other Transaction Documents to which it is a party and to carry out its terms and their terms, respectively; the Borrower has full power and authority to grant to the Administrative/Collateral
Agent, for the benefit of the Secured Parties, a perfected first priority security interest in the Transferred Contracts and the other Borrower Collateral and has duly authorized such grant by all necessary corporate action; and the execution,
delivery and performance of this Agreement and the other Transaction Documents to which it is a party have been duly authorized by each such Person by all necessary corporate action. 
  
 SECTION 10.4. Security Interest; Binding Obligations. This Agreement and the Transaction Documents to which it is a
party have been duly executed and delivered; this Agreement (together with the filing of any required financing statements) shall create a valid first priority perfected security interest (except, as to priority, for any Permitted Liens that may
arise after the Effective Date, to the extent granted priority under applicable law) in the Borrower Collateral in favor of the Administrative/Collateral Agent, for the benefit of the Secured Parties, enforceable against the Borrower and creditors
of the Borrower and any Affiliate thereof (including UACC), to the extent (as to perfection and priority) that a security interest in said Borrower Collateral may be perfected under the applicable UCC; and this Agreement and the other Transaction
Documents to which it is a party shall constitute legal, valid and binding obligations of each such Person enforceable in accordance with their respective terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or
other similar laws affecting the enforcement of creditors’ rights generally and by equitable limitations on the 

  

 - 54 - 

 
availability of specific remedies, regardless of whether such enforceability is considered in a proceeding in equity or at law. 
  
 SECTION 10.5. No Violation. The consummation of the transactions
contemplated by this Agreement and the other Transaction Documents to which it is a party, and the fulfillment of the terms of this Agreement and the other Transaction Documents to which it is a party, shall not conflict with, result in any breach
of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under, the articles of incorporation or bylaws or the equivalent of such Person, or any indenture, agreement, mortgage, deed of trust or other
instrument to which such Person is a party or by which it is bound or any of its properties are subject, or result in the creation or imposition of any Lien (other than Permitted Liens) upon any of its properties pursuant to the terms of any such
indenture, agreement, mortgage, deed of trust or other instrument, other than this Agreement, or violate any law, order, rule or regulation applicable to such Person of any Official Body having jurisdiction over such Person or any of its properties,
or in any way materially adversely affect such Person’s ability to perform its obligations under this Agreement or the other Transaction Documents to which it is a party. 
  
 SECTION 10.6. No Proceedings. There are no proceedings or investigations pending or, to the knowledge of such Person,
threatened against such Person, before any court or Official Body having jurisdiction over it or its properties (A) asserting the invalidity of this Agreement or any of the other Transaction Documents, (B) seeking to prevent the consummation of any
of the transactions contemplated by this Agreement or any of the other Transaction Documents, (C) seeking any determination or ruling that might materially and adversely affect the performance by such Person of its obligations under, or the validity
or enforceability of, this Agreement or any of the other Transaction Documents, (D) that could have a material adverse effect on the Transferred Contracts or other Borrower Collateral or (E) seeking to materially and adversely affect the federal
income tax or other federal, state or local tax attributes of the Notes or seeking to impose any excise, franchise, transfer or similar tax upon the Notes or the sale and assignment of the Contracts and the other Borrower Collateral hereunder.

  
 SECTION 10.7. No Consents. It is not required to obtain
the consent of any other party or any approval, authorization, consent, license, approval or authorization, or registration or declaration with, any Official Body or other Person in connection with the execution, delivery, performance, validity or
enforceability of this Agreement or the other Transaction Documents to which it is a party, except such as have been duly made, effected or obtained. 
  
 SECTION 10.8. Solvency. It is solvent and will not become insolvent after giving effect to the transactions contemplated by this Agreement and the
Transaction Documents. The Borrower has no Indebtedness to any Person other than pursuant to this Agreement and the other Transaction Documents except such Indebtedness to the Seller as has been subordinated to the Borrower’s obligations under
this Agreement. After giving effect to the transactions contemplated by this Agreement and the other Transaction Documents, it will have an adequate amount of capital to conduct its business in the foreseeable future. 
  
 SECTION 10.9. Tax Treatment. For federal income tax purposes, the
Borrower or UACC will be treated as the owner of the Transferred Contracts and Other Conveyed Property, 

  

 - 55 - 

 
the Borrower or UACC will be treated as the borrower under this Agreement, and the Advances made under this Agreement will be treated as the Indebtedness of
the Borrower or UACC. For legal purposes, the Seller and the Borrower will treat the purchase or absolute assignment of the Transferred Contracts and Other Conveyed Property pursuant to the Sale and Servicing Agreement as a purchase or absolute
assignment of the Seller’s full right, title and ownership interest in such Transferred Contracts and Other Conveyed Property. For avoidance of doubt, UACC may consolidate the Borrower and/or its properties and other assets for accounting
purposes. 
  
 SECTION 10.10. Compliance With Laws. It has
complied and will comply in all material respects with all applicable laws, rules, regulations, judgments, agreements, decrees and orders with respect to its business and properties and all Borrower Collateral. 
  
 SECTION 10.11. Taxes. It has filed on a timely basis all tax returns
(including, without limitation, foreign, federal, state, local and otherwise) required to be filed, is not liable for taxes payable by any other Person and has paid or made adequate provisions for the payment of all taxes, assessments and other
governmental charges due from such Person. No tax lien or similar adverse claim has been filed, and no claim is being asserted, with respect to any such tax, assessment or other governmental charge. Any taxes, fees and other governmental charges
payable by such Person in connection with the execution and delivery of this Agreement and the other Transaction Documents and the transactions contemplated hereby or thereby including the transfer of each Transferred Contract and Other Conveyed
Property to such Person have been paid or shall have been paid if and when due at or prior to the Effective Date and the relevant Purchase Date, as the case may be. 
  
 SECTION 10.12. Certificates. Each Distribution Date Statement, Advance Request and Borrowing Base Confirmation is
accurate in all material respects as of the date thereof. 
  
 SECTION 10.13. No Liens, Etc. The Borrower Collateral and each part thereof is owned by the Borrower free and clear of any Adverse Claim or restrictions on transferability and the Borrower has the full right, corporate power and
lawful authority to assign, transfer and pledge the same and interests therein, and upon the making of each Advance, the Administrative/Collateral Agent, for the benefit of the Secured Parties, will have acquired a perfected, first priority and
valid security interest (except, as to priority, for any Permitted Liens that may arise after the Effective Date to the extent granted priority under applicable law) in such Borrower Collateral, free and clear of any Adverse Claim or restrictions on
transferability, to the extent (as to perfection and priority) that a security interest in said Borrower Collateral may be perfected under the applicable UCC. No effective financing statement or other instrument similar in effect covering all or any
part of the Borrower Collateral is on file in any recording office, except such as will be released on the Effective Date or as may have been filed in favor of the Administrative/Collateral Agent as “Secured Party” pursuant hereto or as
necessary or advisable to effect the sales contemplated by the Sale and Servicing Agreement. 
  
 SECTION 10.14. Purchase and Sale. After giving effect to the making of the Advances and the application of the proceeds thereof on each Purchase Date, the Contracts Collateral will have been purchased by or
contributed to the Borrower on such Purchase Date pursuant to the 

  

 - 56 - 

 
Sale and Servicing Agreement and all amounts owing to the Seller as consideration therefor will be paid in full (other than amounts due under the Promissory
Notes). 
  
 SECTION 10.15. Information True and Correct.
All information heretofore or hereafter furnished by or on behalf of such Person in writing to any Lender, any Agent or the Administrative/Collateral Agent in connection with this Agreement or any transaction contemplated hereby is and will be true
and complete in all material respects and does not and will not omit to state a material fact necessary to make the statements contained therein not misleading. 
  

SECTION 10.16. ERISA Compliance. Such Person has no benefit plans subject to ERISA. 
  
 SECTION 10.17. Financial or Other Condition. There has been no
material adverse change in its condition (financial or otherwise), business, operations, results of operations, or properties since its date of organization. 
  
 SECTION 10.18. Investment Company Status. It is not an “investment company” or an “affiliated person” of, or
“promoter” or “principal underwriter” for, an “investment company,” as such terms are defined in the Investment Company Act of 1940, as amended. 
  
 SECTION 10.19. Eligible Contracts. All Contracts included in the Initial Borrowing Base as of the most recently
delivered Distribution Date Statement or Borrowing Base Confirmation are Eligible Contracts. 
  
 SECTION 10.20. Use of Proceeds. Neither Borrower, the Seller nor UACC is engaged in the business of extending credit for the purpose of purchasing or carrying margin stock (as defined in Regulation U (12 CFR
Part 221) of the Board of Governors of the Federal Reserve System) and none of the proceeds of the Advances will be used, directly or indirectly, for a purpose that violates Regulation T, Regulation U, Regulation X or any other regulation
promulgated by the Board of Governors of the Federal Reserve System from time to time. 
  
 SECTION 10.21. Separate Existence. The Borrower is operated as an entity with assets and liabilities distinct from those of UPFC, UACC and any other Affiliates of the Borrower, UPFC or UACC, and the Borrower
hereby acknowledges that the Administrative/Collateral Agent, each of the Agents and each of the Lenders are entering into the transactions contemplated by this Agreement in reliance upon the Borrower’s identity as a separate legal entity from
UACC and each such Affiliate. Since its formation, the Borrower has been (and will be) operated in such a manner as to comply with the covenants set forth in Section 11.5. 
  
 There is not now, nor will there be at any time in the future, any agreement or understanding between UACC and the Borrower
(other than as expressly set forth herein) providing for the allocation or sharing of obligations to make payments or otherwise in respect of any taxes, fees, assessments or other governmental charges. 
  

 - 57 - 

 SECTION 10.22. Investments. The Borrower does not own or hold, directly or indirectly, any capital
stock or equity security of, or any equity interest in, any Person, other than, in the case of the Borrower, the Permitted Investments in the Borrower Accounts. 
  

SECTION 10.23. Representation and Warranties True and Correct. Each of the representations and warranties of such Person contained in this
Agreement and the other Transaction Documents is true and correct in all material respects and such Person hereby makes each such representation and warranty to, and for the benefit of, the Administrative/Collateral Agent and the other Secured
Parties as if the same were set forth in full herein. 
  
 SECTION
10.24. Transaction Documents. The Sale and Servicing Agreement is the only agreement pursuant to which the Borrower purchases and receives contributions of Contracts, and the Transaction Documents delivered to the Administrative/Collateral
Agent represent all material agreements between the Seller, on the one hand, and the Borrower, on the other. It has furnished to the Administrative/Collateral Agent and each Agent true, correct and complete copies of each Transaction Document to
which it is a party, each of which is in full force and effect. Neither the Borrower, the Seller nor any Affiliate party thereto is in default of any of its obligations thereunder in any material respect. Upon the purchase and/or contribution of
each Transferred Contract pursuant to the Sale and Servicing Agreement, the Borrower shall be the lawful owner of, and have good title to, such Transferred Contract and all assets relating thereto, free and clear of any Liens. All such assets are
transferred to the Borrower without recourse to the Seller except as described in the Sale and Servicing Agreement. The purchases of such assets by the Borrower constitute valid and true sales for consideration (and not merely a pledge of such
assets for security purposes) and the contributions of such assets received by the Borrower constitute valid and true transfers for consideration, each enforceable against creditors of the Seller, and no such assets shall constitute property of the
Seller. 
  
 SECTION 10.25. Ownership of the Borrower. One
hundred percent (100%) of the outstanding capital stock of the Borrower is and will be directly owned (both beneficially and of record) by UACC. All such stock is and will be validly issued, and there are no options, warrants or other rights to
acquire shares or other equity rights in the Borrower. 
  
 ARTICLE
XI 
  
 COVENANTS 
  
 From the date hereof until the first day following the Facility Termination
Date on which all Obligations shall have been finally and fully paid and performed, each of the Borrower, the Guarantor, the Servicer (so long as UACC is the Servicer) and the Seller (unless otherwise indicated) hereby covenants and agrees with the
Investors, the Custodian and the Administrative/Collateral Agent that: 
  
 SECTION 11.1. Protection of Security Interest of the Secured Parties. 
  
 (a) At or prior to the Effective Date, the Borrower shall have filed or caused to be filed a UCC-1 financing statement, naming the
Borrower as debtor, naming the 

  

 - 58 - 

 
Administrative/Collateral Agent (for the benefit of the Secured Parties) as secured party and describing the Borrower Collateral, with the office of the
Secretary of State of the State of California. From time to time thereafter, the Borrower shall file such financing statements and cause to be executed and filed such continuation statements, all in such manner and in such places as may be required
by law fully to preserve, maintain and protect the interest of the Secured Parties under this Agreement in the Borrower Collateral and in the proceeds thereof. The Borrower shall deliver (or cause to be delivered) to the Administrative/Collateral
Agent file-stamped copies of, or filing receipts for, any document filed as provided above, as soon as available following such filing. In the event that the Borrower fails to perform its obligations under this subsection, the
Administrative/Collateral Agent at the direction of the Required Lenders may do so, in each case at the expense of the Borrower. 
  
 (b) The Borrower shall not change its name, identity or corporate structure in any manner that would, make any financing statement or
continuation statement filed by the Borrower (or by the Administrative/Collateral Agent on behalf of the Borrower) in accordance with paragraph (a) above seriously misleading or change its jurisdiction of organization, unless the Borrower shall have
given the Administrative/Collateral Agent at least 30 days prior written notice thereof, and shall promptly file appropriate amendments to all previously filed financing statements and continuation statements. 
  
 (c) The Borrower shall maintain its computer systems, if
any, so that, from and after the time of the first Advance under this Agreement, the Borrower’s master computer records (including archives) that shall refer to the Borrower Collateral indicate clearly that such Borrower Collateral is subject
to first priority security interest in favor of the Administrative/Collateral Agent, for the benefit of the Secured Parties. Indication of the Administrative/Collateral Agent’s (for the benefit of the Secured Parties) security interest shall be
deleted from or modified on the Borrower’s computer systems when, and only when, the Borrower Collateral in question shall have been paid in full, the security interest under this Agreement has been released in accordance with its terms, with
respect to any Transferred Contract, upon such Transferred Contract becoming a Repurchased Contract or otherwise as expressly permitted by the Sale and Servicing Agreement or by this Agreement. 
  
 (d) Without limiting any of the other provisions hereof, if
at any time the Borrower shall propose to sell, grant a security interest in, or otherwise transfer any interest in motor vehicle receivables to any prospective lender or other transferee, the Borrower shall give to such prospective lender or other
transferee computer tapes, records, or print-outs (including any restored from archives) that, if they shall refer in any manner whatsoever to any Borrower Collateral shall indicate clearly that such Borrower Collateral is subject to a first
priority security interest in favor of the Administrative/Collateral Agent, for the benefit of the Secured Parties. 
  
 SECTION 11.2. Other Liens or Interests. Except for the security interest granted hereunder, the Borrower will not sell, pledge, assign or transfer
to any other Person, or grant, create, incur, assume or suffer to exist any Lien on the Borrower Collateral or any interest therein 

  

 - 59 - 

 
(other than Permitted Liens), and the Borrower shall defend the right, title, and interest of the Administrative/Collateral Agent (for the benefit of the
Secured Parties) and the Investors in and to the Borrower Collateral against all claims of third parties claiming through or under the Borrower. 
  
 SECTION 11.3. Costs and Expenses. The Borrower shall pay all of its reasonable costs and disbursements in connection with the performance of its
obligations hereunder and under the Transaction Documents. 
  
 SECTION 11.4. Reporting Requirements. The Borrower shall furnish, or cause to be furnished, to the Administrative/Collateral Agent: 
  
 (a) as soon as available and in any event within 120 days (or next succeeding Business Day if the last day of such period is not a
Business Day) after the end of each fiscal year, a copy of the audited consolidated financial statements for such year for each of UPFC and its consolidated Subsidiaries and UACC and its consolidated Subsidiaries, in each case certified without
qualification by Independent Accountants acceptable to the Required Lenders, and each other report or statement sent to shareholders or publicly filed by UACC, UPFC, the Seller or the Borrower; 
  
 (b) as soon as available and in any event within 45 days (or
next succeeding Business Day if the last day of such period is not a Business Day) after the end of each of the first three quarters of each fiscal year of UACC and UPFC, a consolidated balance sheet of each of UPFC and its consolidated Subsidiaries
and UACC and its consolidated Subsidiaries as of the end of such quarter and including the prior comparable period, and consolidated statements of income and retained earnings, of each of UPFC and its consolidated Subsidiaries and UACC and its
consolidated Subsidiaries for such quarter and for the period commencing at the end of the previous fiscal year and ending with the end of such quarter, certified by the chief financial officer or chief accounting officer of UPFC and UACC,
respectively, identifying such documents as being the documents described in this paragraph (b) and stating that the information set forth therein fairly presents the financial condition of UPFC and its consolidated Subsidiaries or UACC and its
consolidated Subsidiaries, as the case may be, as of and for the periods then ended, subject to year-end adjustments and confirming that UPFC or UACC, as the case may be, is in compliance with all financial covenants in the Transaction Documents;

  
 (c) as soon as possible and in any event
within five days after the occurrence of a Facility Termination Event or Unmatured Facility Termination Event, the statement of an Executive Officer of the Borrower or UACC setting forth complete details of such Facility Termination Event or
Unmatured Facility Termination Event and the action which the Borrower has taken, is taking and proposes to take with respect thereto; and 
  
 (d) promptly, from time to time, such other information, documents, records or reports respecting the Transferred Contracts, the Other
Conveyed Property related thereto or the Financed Vehicles related thereto, the other Borrower Collateral or the condition or operations, financial or otherwise, of the Borrower, the Seller, UPFC or 

  

 - 60 - 

 
UACC or any of its Subsidiaries, as any Agent may, from time to time, reasonably request. 
  
 SECTION 11.5. Separate Existence. 
  
 (a) The Borrower shall conduct its business solely in its own name through its duly authorized officers or
agents so as not to mislead others as to the identity of the entity with which such persons are concerned, and shall use its best efforts to avoid the appearance that it is conducting business on behalf of any Affiliate thereof or that the assets of
the Borrower are available to pay the creditors of UACC or any Affiliate thereof (other than as expressly provided herein). 
  
 (b) It shall maintain corporate records and books of account separate from those of UACC and any other Affiliate thereof. 
  
 (c) It shall obtain proper authorization for all corporate
action requiring such authorization. 
  
 (d) It
shall pay its own operating expenses and liabilities from its own funds. 
  
 (e) It will insure that the annual financial statements of UACC shall disclose the effects of the transactions contemplated hereby in accordance with GAAP. 
  
 (f) The resolutions, agreements and other instruments of the
Borrower underlying the transactions described in the Transaction Documents shall be continuously maintained by the Borrower as official records of the Borrower. 
  
 (g) It shall maintain an arm’s-length relationship with UACC and its other Affiliates, and shall not
hold itself out as being liable for the debts of UACC or any of its other Affiliates. 
  
 (h) It shall keep its assets and liabilities separate from those of all other entities other than as permitted by the Transaction
Documents. 
  
 (i) The books and records of the
Borrower shall be maintained at the address designated herein for receipt of notices, unless the Borrower shall otherwise advise the parties hereto in writing. 
  

(j) It shall not maintain bank accounts or other depository accounts to which any Affiliate is an account party, into which any
Affiliate makes deposits or from which any Affiliate has the power to make withdrawals, except as otherwise permitted by the Transaction Documents. 
  
 (k) It shall insure that any consolidated financial statements of UACC have notes to the effect that the Borrower is a separate entity
whose creditors have a claim on its assets prior to those assets becoming available to its equity holders. 
  

 - 61 - 

 (l) It shall not amend, supplement or otherwise modify (i) its organization documents,
except in accordance therewith and with the prior written consent of the Required Lenders (which consent shall not be unreasonably withheld) or (ii) its bylaws except in accordance therewith. 
  
 SECTION 11.6. Interest Rate Caps. 
  
 (a) The Borrower hereby covenants and agrees that in the event the LIBOR
Rate is greater than 5.00% at any time, it shall, within two Business Days, obtain and deliver to the Administrative/Collateral Agent one or more Interest Rate Caps from qualified Cap Providers in favor of the Administrative/Collateral Agent for the
benefit of the Secured Parties having, singly or in the aggregate, an Aggregate Interest Rate Caps Notional Amount not less than the Required Interest Rate Caps Notional Amount, which (1) each shall have a notional principal amount equal to or
greater than $5,000,000, (2) may provide for reductions of the Aggregate Interest Rate Caps Notional Amount on each Distribution Date on an amortization schedule for such Aggregate Interest Rate Caps Notional Amount assuming a 0.0 ABS prepayment
speed (or such other ABS prepayment speed as may be approved in writing by the Required Lenders and the Rating Agencies) and zero losses, and (3) shall have other terms and conditions and be represented by Cap Agreements otherwise acceptable to the
Required Lenders and the Rating Agencies. The Borrower agrees that each Interest Rate Cap shall provide for payments to the Administrative/Collateral Agent and that such payments shall be deposited into the Collection Account. 
  
 (b) On any Servicer Report Date on which the Minimum Liquidity Amount Test
has not been satisfied, the Borrower shall be required to deposit an amount equal to the Cap Funding Reserve Account Requirement into the Cap Funding Reserve Account on such Servicer Report Date; provided, however, that if the Minimum
Liquidity Amount Test is subsequently satisfied for any three consecutive Servicer Report Dates following the Servicer Report Date on which the Minimum Liquidity Amount Test failed to be satisfied, all funds then on deposit in the Cap Funding
Reserve Account shall be released to the Borrower on the third such Servicer Report Date; provided further, that if the Cap Funding Reserve Account Requirement shall increase on any applicable Servicer Report Date as a result of an increase
in the estimated cost of purchasing Interest Rate Caps from qualified Cap Providers, the Borrower shall be required to deposit an amount equal to such additional cost into the Cap Funding Reserve Account on such Servicer Report Date; provided
further, that if the Cap Funding Reserve Account Requirement shall decrease on any applicable Servicer Report Date as a result of a decrease in the estimated cost of purchasing Interest Rate Caps from qualified Cap Providers, the excess of the
amount on deposit in the Cap Funding Reserve Account over the adjusted Cap Funding Reserve Account Requirement shall be withdrawn from the Cap Funding Reserve Account and released to the Borrower on such Servicer Report Date. As specified in Section
11.6(a) above, in the event the LIBOR Rate is greater than 5.00% at any time, the Borrower may use the funds in the Cap Funding Reserve Account to purchase one or more Interest Rate Caps. If the Borrower defaults on its obligations under Section
11.6(a), the Administrative/Collateral Agent, at the direction of the Required Lenders, may use the funds in the Cap Funding Reserve Account to purchase the Interest Rate Caps; provided, however, that such action by the
Administrative/Collateral Agent 

  

 - 62 - 

 
shall not release the Borrower from its obligations under this Section 11.6; provided further, that the Servicer shall provide the
Administrative/Collateral Agent with all information necessary to purchase such Interest Rate Caps; provided further, that if the amount on deposit in the Cap Funding Reserve Account is insufficient to purchase any required Interest Rate
Caps, the Borrower shall be responsible for any such shortfall; provided further, that if the Borrower defaults on its obligation with respect to such Cap Funding Reserve Account shortfall, the Administrative/Collateral Agent shall follow the
instructions provided by the Required Lenders with respect to the satisfaction of any such shortfall or the purchase of any Interest Rate Caps. Funds retained in the Cap Funding Reserve Account following application as set forth above shall be
invested at the direction of the Servicer in Permitted Investments with maturities not later than the next succeeding Business Day. Any earnings on such invested funds shall be deposited and held in the Cap Funding Reserve Account and applied in the
same manner and priority as payments pursuant to the Interest Rate Caps. 
  
 (c) In the event that any Cap Provider defaults in its obligation to make a payment to the Administrative/Collateral Agent under one or more Cap Agreements on any date on which payments are due pursuant to a Cap
Agreement, the Administrative/Collateral Agent shall make a demand on such Cap Provider, or any guarantor, if applicable, demanding payment by 12:30 p.m., New York City time, on such date. The Administrative/Collateral Agent shall give notice to the
Lenders and the Rating Agencies upon the continuing failure by any Cap Provider to perform its obligations during the two Business Days following a demand made by the Administrative/Collateral Agent on such Cap Provider, and shall take such action
with respect to such continuing failure as may be directed by the Required Lenders. 
  
 (d) In the event that any Cap Provider no longer maintains the ratings specified in the definition of “Cap Provider,” then within 30 days after receiving notice of such decline in the creditworthiness of
such Cap Provider as determined by any Rating Agency, either (x) such Cap Provider, upon the receipt of the consent of the Required Lenders and with the prior written confirmation of each Rating Agency that such arrangement will not result in the
reduction or withdrawal of the rating of the Notes, will enter into an arrangement the purpose of which shall be to assure performance by the Cap Provider of its obligations under the Interest Rate Cap; or (y) the Borrower shall at its option either
(i) upon the receipt of the consent of the Required Lenders, and with the prior written confirmation of each Rating Agency that such arrangement will not result in the reduction or withdrawal of the rating of the Notes, cause such Cap Provider to
pledge securities in the manner provided by applicable law which shall be held by the Administrative/Collateral Agent free and clear of the Lien of any third party, in a manner conferring on the Administrative/Collateral Agent a perfected first Lien
in such securities securing such Cap Provider’s performance of its obligations under the applicable Interest Rate Cap, (ii) provided that a Replacement Interest Rate Cap or Qualified Substitute Arrangement meeting the requirements of Section
11.6(e) has been obtained, (A) provide written notice to such Cap Provider (with a copy to the Administrative/Collateral Agent) of its intention to terminate the applicable Interest Rate Cap within such 30-day period and (B) terminate the applicable
Interest Rate Cap within such 30-day period, request the payment to it of all amounts due to the Administrative/Collateral Agent under the applicable Interest Rate Cap through the termination date and deposit any such amounts so received, on the day
of receipt, to the 

  

 - 63 - 

 
Collection Account, or (iii) establish any other arrangement (including an arrangement or arrangements in addition to or in substitution for any prior
arrangement made in accordance with the provisions of this Section 11.6(d)) which (A) satisfy the Required Lenders and (B) are subject to the condition that each Rating Agency shall have confirmed in writing that such arrangement will not result in
the reduction or withdrawal of the rating of the Notes (a “Qualified Substitute Arrangement”); provided, however, that in the event at any time any alternative arrangement established pursuant to clause (x) or (y)(i)
or (y)(iii) above shall cease to be satisfactory to the Required Lenders, then the provisions of this Section 11.6(d) shall again be applied and in connection therewith the 30-day period referred to above shall commence on the date the Borrower
receives notice of such cessation or termination, as the case may be. 
  
 (e) Unless an alternative arrangement pursuant to clause (x) or (y)(i) or (y)(iii) of Section 11.6(d) is being established, the Borrower shall use its best efforts to obtain a Replacement Interest Rate Cap or Qualified Substitute
Arrangement meeting the requirements of this Section 11.6(e) during the 30-day period referred to in Section 11.6(d). Neither the Borrower nor the Administrative/Collateral Agent shall terminate the Interest Rate Cap unless, prior to the expiration
of the 30-day period referred to in said Section 11.6(d), the Borrower delivers to the Administrative/Collateral Agent (i) a Replacement Interest Rate Cap or Qualified Substitute Arrangement, (ii) to the extent applicable, an Opinion of Counsel as
to the due authorization, execution and delivery and validity and enforceability of such Replacement Interest Rate Cap or Qualified Substitute Arrangement, as the case may be, (iii) evidence that the Required Lenders have consented to the
termination of the Interest Rate Cap and its replacement with such Replacement Interest Rate Cap or Qualified Substitute Arrangement and (iv) a letter from each Rating Agency confirming that such termination and replacement will not adversely affect
its rating of the Notes. 
  
 (f) The Servicer or the Borrower
shall notify the Administrative/Collateral Agent within five Business Days after obtaining actual knowledge that the senior unsecured debt rating of the Cap Provider has been withdrawn or reduced by any Rating Agency. 
  
 (g) Notwithstanding the foregoing, the Borrower may at any time obtain a
Replacement Interest Rate Cap, provided that the Borrower delivers to the Administrative/Collateral Agent evidence of the receipt of the consent of the Required Lenders to the termination of the then-current Interest Rate Cap and its replacement
with such Replacement Interest Rate Cap and a letter from each Rating Agency confirming that such termination and replacement will not adversely affect its rating of the Notes. 
  
 (h) The Borrower shall not agree to any amendment to any Interest Rate Cap unless (i) the Borrower shall have received
evidence of the consent of the Required Lenders to such amendment to such Interest Rate Cap and (ii) it shall have received a letter from each Rating Agency confirming that such amendment will not adversely affect its rating of the Notes.

  
 (i) The Borrower shall notify each Rating Agency and the
Lenders after obtaining actual knowledge of the transfer by the related Cap Provider of any Interest Rate Cap, or any interest or obligation thereunder. 
  

 - 64 - 

 (j) The Administrative/Collateral Agent, with the consent of the Required Lenders, upon notification from
the Borrower, shall sell all or a portion of the Interest Rate Caps subject to the following conditions having been met: 
  
 (x) the Aggregate Interest Rate Caps Notional Amount after giving effect to such sale shall equal or exceed the Required Interest Rate
Caps Notional Amount as of the date of such sale after giving effect to all payments and allocations made pursuant to this Agreement; 
  
 (y) such sale will not result in a downgrading or withdrawal of the then-current rating on the Notes by any Rating Agency; and 

 
 (z) the minimum notional amount denomination of any
Interest Rate Cap to be sold is $1,000,000. 
  
 The Borrower shall
have the duty of obtaining a fair market value price for the sale of the Administrative/Collateral Agent’s rights under any Interest Rate Cap, notifying the Administrative/Collateral Agent of prospective purchasers and bids, and selecting the
purchaser of such Interest Rate Cap. The Administrative/Collateral Agent upon receipt of the purchase price in the Collection Account shall execute all documentation necessary to effect the transfer of the Administrative/Collateral Agent’s
rights under such Interest Rate Cap and to release the Lien of the Administrative/Collateral Agent on such Interest Rate Cap and proceeds thereof. 
  
 SECTION 11.7. Tangible Net Worth. The Borrower shall maintain at all times a positive Tangible Net Worth. 
  
 SECTION 11.8. Stock, Merger, Consolidation, Etc. The Borrower shall
not merge or consolidate with any other Person or permit any other Person to become the successor to all or substantially all of its business or assets without the prior written consent of the Required Lenders. 
  
 SECTION 11.9. Change in Name. It shall not make any change to its name
or use any trade names, fictitious names, assumed names or “doing business as” names. 
  
 SECTION 11.10. Indebtedness; Guarantees. The Borrower shall not create, incur, assume or suffer to exist any indebtedness other than indebtedness
permitted under the Transaction Documents. The Borrower shall incur no additional borrowed money indebtedness secured by the Borrower Collateral other than the Advances. The Borrower shall not assume, guarantee, endorse or otherwise be or become
directly or contingently liable for the obligations of any Person by, among other things, agreeing to purchase any obligation of another Person, agreeing to advance funds to such Person or causing or assisting such Person to maintain any amount of
capital. 
  
 SECTION 11.11. Limitation on Transactions with
Affiliates. The Borrower shall not enter into, or be a party to any transaction with any Affiliate of the Borrower, except for (a) the transactions contemplated by the Transaction Documents and (b) to the extent not otherwise 

  

 - 65 - 

 
prohibited under this Agreement, other transactions in the nature of employment contracts and directors’ fees, upon fair and reasonable terms materially
no less favorable to the Borrower than would be obtained in a comparable arm’s-length transaction with a Person not an Affiliate. 
  
 SECTION 11.12. Documents. Except as other wise expressly permitted herein (including, without limitation, in Section 11.6 regarding Interest Rate
Caps), it shall not cancel or terminate any of the Transaction Documents to which it is party (in any capacity), or consent to or accept any cancellation or termination of any of such agreements, or amend or otherwise modify any term or condition of
any of the Transaction Documents to which it is party (in any capacity) or give any consent, waiver or approval under any such agreement, or waive any default under or breach of any of the Transaction Documents to which it is party (in any capacity)
or take any other action under any such agreement not required by the terms thereof, unless (in each case) the Required Lenders shall have consented thereto (which consent shall not unreasonably be withheld to the extent set forth in such
Transaction Document). 
  
 SECTION 11.13. Preservation of
Existence. It shall observe all procedures required by its organizational documents and preserve and maintain its existence, rights, franchises and privileges in the jurisdiction of its formation and qualify and remain qualified in good standing
in each jurisdiction where the failure to preserve and maintain such existence, rights, franchises, privileges and qualifications would materially adversely affect (1) the interests hereunder of the Required Lenders or any Secured Party, (2) the
collectibility of any Transferred Contract or (3) its ability to perform its obligations hereunder or under any of the other Transaction Documents. 
  
 SECTION 11.14. Keeping of Records and Books of Account. The Servicer shall maintain and implement administrative and operating procedures
(including, without limitation, an ability to recreate records evidencing the Contracts in the event of the destruction of the originals thereof) and keep and maintain, all documents, books, records and other information reasonably necessary or
advisable for the collection of all Transferred Contracts (including, without limitation, records adequate to permit the daily identification of all collections of and adjustments to each Transferred Contract). 
  
 SECTION 11.15. Accounting Treatment. The Borrower shall not prepare
any financial statements or other statements (including any tax filings which are not consolidated with those of UACC) which shall account for the transactions contemplated by the Sale and Servicing Agreement in any manner other than as the sale of,
or a capital contribution of, the Transferred Contracts and the related assets by the Seller to the Borrower. For avoidance of doubt, UACC may consolidate the Borrower and/or its properties and other assets for accounting purposes. 
  
 SECTION 11.16. Limitation on Investments. The Borrower shall not form,
or cause to be formed, any Subsidiaries; or make or suffer to exist any loans or advances to, or extend any credit to, or make any investments (by way of transfer of property, contributions to capital, purchase of stock or securities or evidences of
indebtedness, acquisition of the business or assets, or otherwise) in, any Affiliate or any other Person except as otherwise permitted herein and pursuant to the other Transaction Documents. 
  

 - 66 - 

 SECTION 11.17. Distributions. The Borrower shall not declare or make (a) payment of any
distribution on or in respect of any shares of its capital stock, or (b) any payment on account of the purchase, redemption, retirement or acquisition of any option, warrant or other right to acquire such shares unless (in each case) at the time of
such declaration or payment (and after giving effect thereto) no Facility Termination Event under Section 14.1 or Unmatured Facility Termination Event under Section 14.1 shall occur or be continuing and no amount payable by the Borrower under any
Transaction Document is then due and owing but unpaid. 
  
 SECTION
11.18. Maintain Records of Transferred Contracts. The Servicer shall, at its own cost and expense, maintain satisfactory and complete records of the Contract Collateral, including a record of all payments received and all credits granted with
respect to the Contract Collateral and all other dealings with the Contract Collateral. The Servicer shall maintain its computer systems so that, from and after the time of sale under the Sale and Servicing Agreement of the Contracts to the
Borrower, the Servicer’s master computer records (including any back-up archives) that refer to a Transferred Contract shall indicate the interest of the Borrower and the Administrative/Collateral Agent in such Transferred Contract and that
such Transferred Contract is owned by the Borrower and has been pledged to the Administrative/Collateral Agent for the benefit of the Secured Parties pursuant to this Agreement. 
  
 SECTION 11.19. Performance of Borrower Assigned Agreements. The Borrower shall (i) perform and observe all the terms
and provisions of the Transaction Documents (including, without limitation, each of the Borrower Assigned Agreements) to which it is a party to be performed or observed by it, maintain such Transaction Documents in full force and effect, enforce
such Transaction Documents in accordance with their terms and take all such action to such end as may be from time to time requested by any Agent, and (ii) upon request of any Agent, make to any other party to such Transaction Documents such demands
and requests for information and reports or for action as the Borrower is entitled to make thereunder. 
  
 SECTION 11.20. Notice of Material Adverse Claim. It shall advise the Administrative/Collateral Agent promptly, in reasonable detail, (i) of any
material Adverse Claim, other than a Permitted Lien, known to it made or asserted against any of the Borrower Collateral, and (ii) of the occurrence of any event which would have a material adverse effect on the aggregate value of the Borrower
Collateral or on the assignments and security interests granted by the Borrower in this Agreement. 
  
 SECTION 11.21. Further Assurances; Financing Statements. 
  

(a) The Borrower agrees that at any time and from time to time, at its expense, it shall promptly execute and deliver all further
instruments and documents, and take all reasonable further action, that may be necessary or desirable or that the Required Lenders may request to perfect and protect the assignments and security interests granted or purported to be granted by this
Agreement or to enable the Administrative/Collateral Agent or any of the Secured Parties to exercise and enforce its rights and remedies under this Agreement with respect to any Borrower Collateral. Without limiting the generality of the foregoing,
the Borrower shall execute and file such financing or continuation 

  

 - 67 - 

 
statements, or amendments thereto, and such other instruments or notices as may be necessary or desirable or that the Required Lenders may reasonably request
to protect and preserve the assignments and security interests granted by this Agreement. 
  
 (b) The Borrower and each Secured Party hereby severally authorize the Administrative/Collateral Agent, upon receipt of written direction
from the Required Lenders (if the Borrower has failed to fulfill its duties under Section 11.21(a)), to file one or more financing or continuation statements, and amendments thereto, relating to all or any part of the Borrower Collateral.

  
 (c) It shall furnish to the
Administrative/Collateral Agent from time to time such statements and schedules further identifying and describing the Contract Collateral and such other reports in connection with the Borrower Collateral as the Required Lenders may reasonably
request, all in reasonable detail. 
  
 ARTICLE XII 
  
 THE SERVICER; THE BACKUP SERVICER 
  
 SECTION 12.1. Liability of Servicer. The Servicer (in its capacity as
such) shall be liable hereunder only to the extent of the obligations in this Agreement and the other Transaction Documents specifically undertaken by the Servicer and the representations made by the Servicer. 
  
 SECTION 12.2. Merger or Consolidation of, or Assumption of the Obligations
of, the Servicer or Backup Servicer. The Servicer shall not merge or consolidate with any other Person, convey, transfer or lease all or substantially all its assets as an entirety to another Person, or permit any other Person to become the
successor to all or substantially all of its business or assets, unless after the merger, consolidation, conveyance, transfer, lease or succession, the successor or surviving entity shall be an Eligible Servicer and shall be capable of fulfilling
the duties of the Servicer contained in this Agreement. Any Person (i) into which the Servicer may be merged or consolidated, (ii) resulting from any merger or consolidation to which the Servicer shall be a party, (iii) which acquires by conveyance,
transfer, or lease substantially all of the assets of the Servicer, or (iv) succeeding to the business of the Servicer, in any of the foregoing cases shall execute an agreement of assumption to perform every obligation of the Servicer under this
Agreement and the other Transaction Documents to which the Servicer is a party and, whether or not such assumption agreement is executed, shall be the successor to the Servicer under this Agreement without the execution or filing of any paper or any
further act on the part of any of the parties to this Agreement, anything in this Agreement to the contrary notwithstanding; provided, however, that nothing contained herein shall be deemed to release the Servicer from any obligation hereunder. The
Servicer shall provide notice of any merger, consolidation or succession pursuant to this Section 12.2(a) to the Required Lenders and the Backup Servicer and the Required Lenders shall have consented thereto. Notwithstanding the foregoing, as a
condition to the consummation of the transactions referred to in clauses (i), (ii), (iii) and (iv) above, (x) immediately after giving effect to such transaction, no representation or warranty made pursuant to Section 8.2 shall have been breached in
any material respect (for purposes hereof, such representations and warranties shall speak as of the date of the 

  

 - 68 - 

 
consummation of such transaction) and no event that after notice or lapse of time would become a Facility Termination Event pursuant to Section 14.1 shall
have occurred and be continuing, (y) the Servicer shall have delivered to the Administrative/Collateral Agent an Officer’s Certificate and an Opinion of Counsel each stating that such consolidation, merger or succession and such agreement of
assumption comply with this Section 12.2(a), and (z) the Servicer shall have delivered to the Administrative/Collateral Agent an Opinion of Counsel, stating, in the opinion of such counsel, either (A) all financing statements and continuation
statements and amendments thereto have been executed and filed that are necessary to preserve and protect the security interest of the Administrative/Collateral Agent (for the benefit of the Secured Parties) in the Transferred Contracts and reciting
the details of the filings, if any, or (B) no such action shall be necessary to preserve and protect such interest. 
  
 SECTION 12.3. Limitation on Liability of Backup Servicer. 
  

(a) Neither the Backup Servicer nor any of the directors or officers or employees or agents of the Backup Servicer shall be under any
liability to the Borrower, the Investors or the Administrative/Collateral Agent, except as provided in this Agreement, for any action taken or for refraining from the taking of any action pursuant to this Agreement; provided, however, that this
provision shall not protect the Backup Servicer or any such Person against any liability that would otherwise be imposed by reason of a breach of this Agreement or willful misfeasance, bad faith or negligence in the performance of its duties. The
Backup Servicer and any director, officer, employee or agent of the Backup Servicer may rely in good faith on the written advice of counsel or on any document of any kind prima facie properly executed and submitted by any Person respecting
any matters arising under this Agreement. 
  
 (b)
Unless acting as Servicer hereunder, the Backup Servicer shall not be liable for any obligation of the Servicer contained in this Agreement, and the Administrative/Collateral Agent, the Borrower and the Investors shall look only to the Servicer to
perform such obligations. 
  
 (c) The Backup
Servicer shall have no responsibility and shall not be in default hereunder nor incur any liability for any failure, error, malfunction or any delay in carrying out any of its duties under this Agreement if any such failure or delay results from the
Backup Servicer acting in accordance with information prepared or supplied by a Person other than the Backup Servicer or the failure of any such Person to prepare or provide such information. The Backup Servicer shall have no responsibility, shall
not be in default and shall incur no liability (i) for any act or failure to act by any third party, including the Servicer or the Administrative/Collateral Agent or for any inaccuracy or omission in a notice or communication received by the Backup
Servicer from any third party or (ii) that is due to or results from the invalidity, unenforceability of any Transferred Contract under applicable law or the breach or the inaccuracy of any representation or warranty made with respect to any
Transferred Contract. 
  
 (d) Notwithstanding
anything in this Agreement to the contrary, a delay in or a failure to perform by the Backup Servicer, including in its capacity as successor 

  

 - 69 - 

 
Servicer, under this Agreement for a period of no more than 60 days shall not constitute a breach under this Agreement or a Servicer Default if such delay or
failure could not be prevented by the exercise of reasonable diligence by the Servicer and such delay or failure was caused by an act of God or the public enemy, acts of declared or undeclared war, public disorder, rebellion or sabotage, epidemics,
landslides, lightning, fire, hurricanes, earthquakes, floods or similar causes; provided, however, that the foregoing shall not relieve the Servicer from using reasonable efforts to perform its obligations in a timely manner in accordance with the
terms of this Agreement. 
  
 SECTION 12.4. Backup Servicer Not
to Resign. Subject to the provisions of Section 12.2, the Backup Servicer shall not resign from the obligations and duties imposed on it by this Agreement as Backup Servicer except upon a determination that by reason of a change in legal
requirements the performance of its duties under this Agreement would cause it to be in violation of such legal requirements and the Administrative/Collateral Agent does not elect to waive the obligations of the Backup Servicer to perform the duties
which render it legally unable to act or to delegate those duties to another Person. Any such determination permitting the resignation of Backup Servicer shall be evidenced by an Opinion of Counsel to such effect delivered and acceptable to the
Required Lenders. No resignation of the Backup Servicer shall become effective until an entity acceptable to the Required Lenders shall have assumed the responsibilities and obligations of the Backup Servicer; provided, however, that
in the event a successor Backup Servicer is not appointed within 60 days after the Backup Servicer has given notice of its resignation as permitted by this Section 12.4, the resignation of the Backup Servicer shall become effective.
Notwithstanding the foregoing, the Backup Servicer may resign for any reason, provided an entity acceptable to the Required Lenders shall have assumed the responsibilities and obligations of the Backup Servicer prior to the effectiveness of any such
resignation. 
  
 ARTICLE XIII 
  
 GRANT OF SECURITY INTEREST 
  
 SECTION 13.1. Borrower’s Grant of Security Interest. As security
for the prompt payment or performance in full when due, whether at stated maturity, by acceleration or otherwise, of all Obligations (including, without limitation, Advances, Yield and other amounts at any time owing hereunder), the Borrower hereby
assigns and pledges to the Administrative/Collateral Agent, for the benefit of the Secured Parties, and grants to the Administrative/Collateral Agent, for the benefit of the Secured Parties, a security interest in and lien upon, all of the
Borrower’s right, title and interest in and to the following, in each case whether now or hereafter existing or in which Borrower now has or hereafter acquires an interest and wherever the same may be located (collectively, the
“Borrower Collateral”): 
  
 (a)
all Contract Collateral; 
  
 (b) the Sale and
Servicing Agreement and all other documents now or hereafter in effect to the extent they relate to the purchase, servicing or processing of Transferred Contracts (collectively, the “Borrower Assigned Agreements”), including 

  

 - 70 - 

 
(i) all rights of the Borrower to receive moneys due and to become due under or pursuant to the Borrower Assigned Agreements, (ii) all rights of the Borrower
to receive proceeds of any insurance, indemnity, warranty or guaranty with respect to the Borrower Assigned Agreements, (iii) the Borrower’s right of foreclosure as lienholder of the vehicles underlying the Contracts, (iv) claims of the
Borrower for damages arising out of or for breach of or default under the Borrower Assigned Agreements, and (v) the right of the Borrower to amend, waive or terminate the Borrower Assigned Agreements, to perform under the Borrower Assigned
Agreements and to compel performance and otherwise exercise all remedies and rights under the Borrower Assigned Agreements; 
  
 (c) all of the following (the “Borrower Account Collateral”): 
  

	 	(i)	the Collection Account, all funds held in the Collection Account, and all certificates and instruments, if any, from time to time representing or evidencing the Collection Account
or such funds, 

  

	 	(ii)	the Reserve Account, all funds held in the Reserve Account, and all certificates and instruments, if any, from time to time representing or evidencing the Reserve Account or such
funds, 

  

	 	(iii)	the Cap Funding Reserve Account, all funds held in the Cap Funding Reserve Account, and all certificates and instruments, if any, from time to time representing or evidencing the
Cap Funding Reserve Account or such funds, 

  

	 	(iv)	all investments from time to time of amounts in the Collection Account, Reserve Account and Cap Funding Reserve Account, and all certificates and instruments, if any, from time to
time representing or evidencing such investments, 

  

	 	(v)	all notes, certificates of deposit and other instruments from time to time delivered to or otherwise possessed by the Administrative/Collateral Agent or any Secured Party or any
assignee or agent on behalf of the Administrative/Collateral Agent or any Secured Party in substitution for or in addition to any of the then existing Borrower Account Collateral, and 

  

	 	(vi)	all interest, dividends, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any and all of the
then existing Borrower Account Collateral; 

  
 (d) each Interest Rate Cap including all rights of the Borrower to receive moneys due and to become due thereunder; 
  

 - 71 - 

 (e) all additional property that may from time to time hereafter be granted and pledged
by the Borrower or by anyone on its behalf under this Agreement, including the deposit with the Administrative/Collateral Agent of additional moneys by the Borrower; 
  
 (f) all Accounts, all Chattel Paper, all Documents, all Equipment, all General Intangibles, all Instruments,
all Investment Property and all Inventory of the Borrower; 
  
 (g) all Proceeds, accessions, substitutions, rents and profits of any and all of the foregoing Borrower Collateral (including proceeds that constitute property of the types described in paragraphs (a) through
(f) above) and, to the extent not otherwise included, all payments under insurance (whether or not the Administrative/Collateral Agent or a Secured Party or any assignee or agent on behalf of the Administrative/Collateral Agent or a Secured
Party is the loss payee thereof) or any indemnity, warranty or guaranty payable by reason of loss or damage to or otherwise with respect to any of the foregoing Borrower Collateral. 
  
 SECTION 13.2. Delivery of Collateral. All documents in the Contracts File shall be delivered to and held by or on
behalf of the Custodian pursuant to the Sale and Servicing Agreement, and shall be in suitable form for transfer by delivery. 
  
 SECTION 13.3. Borrower Remains Liable. Notwithstanding anything in this Agreement, (a) except to the extent of the Servicer’s duties under
this Agreement, the Borrower shall remain liable under the Transferred Contracts, Borrower Assigned Agreements and other agreements (including each Interest Rate Cap) included in the Borrower Collateral to perform all of its duties and obligations
thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by a Secured Party or the Administrative/Collateral Agent of any of its rights under this Agreement shall not release the Borrower, UACC, the Guarantor, UPFC,
the Seller or the Servicer from any of their respective duties or obligations under the Transferred Contracts, Borrower Assigned Agreements or other agreements included in the Borrower Collateral, (c) the Agents, the Secured Parties, the
Administrative/Collateral Agent and the Custodian shall not have any obligation or liability under the Transferred Contracts, Borrower Assigned Agreements or other agreements included in the Borrower Collateral by reason of this Agreement, and (d)
neither the Agent, the Administrative/Collateral Agent, the Custodian nor any of the Secured Parties shall be obligated to perform any of the obligations or duties of the Borrower, UACC, the Guarantor, UPFC, the Seller or the Servicer under the
Transferred Contracts, Borrower Assigned Agreements or other agreements included in the Borrower Collateral or to take any action to collect or enforce any claim for payment assigned under this Agreement. 
  
 SECTION 13.4. Release of Borrower Collateral. 
  
 (a) Generally. To the extent that (i) the Initial
Borrowing Base equals or exceeds the aggregate outstanding principal amount of Advances, (ii) all Advances, Yield thereon and other amounts due under the Receivables Financing Agreement have been paid in full, and (iii) there is no Facility
Termination Event or Unmatured Facility Termination Event under Section 14.1, in connection with the sale or transfer of 

  

 - 72 - 

 
Contracts pursuant to a Take-Out Securitization, in connection with the purchase by the Servicer or the Seller of a Transferred Contract pursuant to the Sale
and Servicing Agreement, or in connection with the payment in full of the Advances and other Obligations hereunder, the Borrower may from time to time obtain releases of the Administrative/Collateral Agent’s (for the benefit of the Secured
Parties) security interest in all or any part of the Contract Collateral (with the matters set forth in the foregoing clauses (i), (ii) and (iii) being determined immediately after giving effect to any requested release and any payments made on the
date thereof, including, without limitation, any repayment of Advances and payment of Yield thereon on such date). Each request (a “Transfer Request”) for a partial release of Contract Collateral, except in connection with the
purchase by the Servicer or the Seller of a Transferred Contract pursuant to the Sale and Servicing Agreement, shall be addressed to the Administrative/Collateral Agent, demonstrating compliance with the immediately preceding sentence and
acknowledging that the receipt of proceeds from such sale or transfer shall be deposited into the Collection Account. 
  
 (b) Transfers. With respect to each Transfer Request that is received by the Administrative/Collateral Agent by 12:00 noon, New
York time on a Business Day, the Administrative/Collateral Agent shall use due diligence and reasonable efforts to review such Transfer Requests and instruct the Custodian to prepare the files, identified in each Transfer Request, for shipment by
12:00 noon, New York time on the fourth succeeding Business Day or, with respect to shipping out more than 1000 files on any one Business Day, as mutually agreed between the Custodian and the Borrower. 
  
 (c) Continuation of Lien. Unless released in writing
by the Administrative/Collateral Agent, as herein provided, the security interest in favor of the Administrative/Collateral Agent, for the benefit of the Secured Parties, in all Borrower Collateral shall continue in effect until such time as the
Administrative/Collateral Agent shall have received payment in full of the proceeds from the sale or transfer of such Borrower Collateral to third parties in accordance with this Section 13.4. 
  
 (d) Application of Proceeds; No Duty. Neither the
Administrative/Collateral Agent nor any Secured Party shall be under any duty at any time to credit Borrower for any amount due from any third party in respect of any purchase of any Contract Collateral contemplated above, until the
Administrative/Collateral Agent has actually received such amount in immediately available funds for deposit to the Collection Account. Neither any Secured Party nor the Administrative/Collateral Agent shall be under any duty at any time to collect
any amounts or otherwise enforce any obligations due from any third party in respect of any such purchase of Contracts covered by the release of such portion of Contract Collateral or in respect of a securitization or financing thereof with a third
party. 
  
 (e) Representation in Connection
with Releases, Sales and Transfers. The Borrower represents and warrants that each request for any release or transfer in connection with any Take-Out Securitizations pursuant to Section 13.4(a) shall automatically constitute a
representation and warranty to the Secured Parties and the 

  

 - 73 - 

 
Administrative/Collateral Agent to the effect that immediately before and after giving effect to such release or Transfer Request, there is no Facility
Termination Event or Unmatured Facility Termination Event under Section 14.1 and each of the other conditions set forth in Section 13.4 have been satisfied. 
  
 (f) Release of Security Interest. Upon receipt of a Transfer Request or, in connection with the purchase by the Servicer, UACC or
the Seller of a Transferred Contract pursuant to the Sale and Servicing Agreement, upon the Servicer’s written request, and, in each case upon receipt in the Collection Account of proceeds from the sale or transfer (including, without
limitation, in connection with the purchase by the Servicer, UACC or the Seller of a Transferred Contract pursuant to the Sale and Servicing Agreement, the related Repurchase Amount), the Administrative/Collateral Agent at the written direction of
the Required Lenders shall promptly release, at the Borrower’s expense, such part of the Contract Collateral covered in connection with the Transfer Request or such Servicer’s request and shall deliver, at the Borrower’s expense, and
without recourse, representation or warranty of any kind, the Contracts Files on the released portion of Contract Collateral to the trustee or such similar entity in connection with the applicable Take-Out Securitization or, in connection with the
purchase by the Servicer, UACC or the Seller of a Transferred Contract pursuant to the Sale and Servicing Agreement, the Servicer; provided that the trustee or such similar entity in connection with the third party securitization (including
any Take-Out Securitization) or the Servicer or the Borrower, as the case may be, acknowledges and agrees (i) that all proceeds thereof that it receives from such sale are held in trust for the Secured Parties and (ii) that it shall transfer such
funds to the Administrative/Collateral Agent for deposit in the Collection Account. The foregoing notwithstanding, upon the deposit into the Collection Account of all amounts required to effect a full payment or prepayment by an Obligor of a
Transferred Contract, the security interest of the Administrative/Collateral Agent in that Receivable shall be automatically deemed released. 
  
 SECTION 13.5. Expenses. It is understood that the Administrative/Collateral Agent shall be entitled to receive reimbursement for costs and expenses
and such reimbursement obligation shall be payable by the Borrower to the extent funds are available therefor under Section 9.5(a) hereof and otherwise by UACC. 
  

SECTION 13.6. Representations And Warranties Of the Administrative/Collateral Agent. The Administrative/Collateral Agent represents and warrants
as of the date hereof that: 
  
 (a) It is a trust
company, validly existing and in good standing under the laws of New York; 
  
 (b) It has full power, authority and legal right to execute, deliver and perform this Agreement and the Sale and Servicing Agreement and has taken all necessary action to authorize the execution, delivery and
performance by it of this Agreement and the Sale and Servicing Agreement; and 
  

 - 74 - 

 (c) This Agreement and the Sale and Servicing Agreement have been duly executed and
delivered by it and each constitutes its legal, valid and binding agreement, enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency reorganization or other similar laws affecting the enforcement
of creditors’ rights generally and by general principles of equity. 
  
 SECTION 13.7. Indemnity. The Borrower (to the extent of funds available therefor under Section 9.5 of this Agreement) and UACC agree, jointly and severally, to indemnify and hold harmless the
Administrative/Collateral Agent and the Custodian and their respective directors, officers, agents and employees against any and all claims, damages, losses, liabilities or expenses (including, but not limited to, reasonable attorneys’ fees,
court costs and costs of investigation) of any kind or nature whatsoever arising out of or in connection with this Agreement and the Transaction Documents that may be imposed upon, incurred by or asserted against the Administrative/Collateral Agent
or the Custodian; provided, however, that this Section 13.7 shall not relieve the Administrative/Collateral Agent or the Custodian from liability for its willful misconduct or gross negligence (and neither the Borrower nor UACC shall
have any obligation to indemnify any such person for any liabilities arising therefrom). The provisions of this Section 13.7 shall survive the resignation or removal of the Administrative/Collateral Agent or the Custodian or any successor
Administrative/Collateral Agent or Custodian and the termination of this Agreement. 
  
 SECTION 13.8. Certain Remedies. 
  
 (a) The Administrative/Collateral Agent may, in its discretion (with the consent of the Required Lenders), and shall, at the written direction of the Required Lenders, proceed to protect and enforce its rights and the
rights of the Secured Parties by such appropriate proceedings as the Required Lenders shall deem necessary to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in any Transaction Document or in
and of the exercise of any power granted herein, or to enforce any other proper remedy or legal or equitable right vested in the Administrative/Collateral Agent by any Transaction Document or by law. 
  
 (b) In case there shall be pending, relative to the Borrower
or any other obligor upon the Notes or any Person having or claiming an ownership interest in the Borrower Collateral, proceedings under the Bankruptcy Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in
case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Borrower or its property or such other obligor or Person, or in case of any
other comparable judicial proceedings relative to the Borrower or other obligor upon the Note, or to the creditors of property of the Borrower or such other obligor, the Administrative/Collateral Agent, irrespective of whether the principal of the
Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Administrative/Collateral Agent shall have made any demand pursuant to the provisions of this Section, shall be entitled and
empowered but without any obligation, subject to Section 13.8(a), by intervention in such proceedings or otherwise: 
  

	 	(i)	to file and prove a claim or claims for the whole amount of principal and Yield owing and unpaid in respect of the Note, all other amounts owing to the Investors and to file such
other papers or documents as may be necessary or advisable in order to have the claims of the Administrative/Collateral Agent (including any claim for reimbursement of all expenses (including the fees and expenses of counsel) and liabilities
incurred, and all advances, if any, made, by the Administrative/Collateral Agent and each predecessor Administrative/Collateral Agent, except as determined to have been caused by its own gross negligence or willful misconduct) and of each of the
other Secured Parties allowed in such proceedings; 

  

 - 75 - 

	 	(ii)	unless prohibited by applicable law and regulations, to vote (with the consent of the Agent) on behalf of the holders of the Notes in any election of a trustee, a standby trustee or
person performing similar functions in any such proceedings; 

  

	 	(iii)	to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute all amounts received with respect to the claims of the Secured
Parties on their behalf; and 

  

	 	(iv)	to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Administrative/Collateral Agent or the Secured Parties
allowed in any judicial proceedings relative to the Borrower, its creditors and its property; 

  
 and any trustee, receiver, liquidator, custodian or other similar official in any such proceeding is hereby authorized by each of such Secured Parties to make payments to the Administrative/Collateral Agent, and, in
the event that the Administrative/Collateral Agent shall consent, to the making of payments directly to such Secured Parties, to pay to the Administrative/Collateral Agent such amounts as shall be sufficient to cover all reasonable expenses and
liabilities incurred, and all advances made, by the Administrative/Collateral Agent and each predecessor Administrative/Collateral Agent except as determined to have been caused by its own gross negligence or willful misconduct. 
  
 (c) Nothing herein contained shall be deemed to authorize
the Administrative/Collateral Agent to authorize or consent to or vote for or accept or adopt on behalf of any Lender or other Secured Party any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any
holder thereof or to authorize the Administrative/Collateral Agent to vote in respect of the claim of any Secured Party in any such proceeding except, pursuant to Section 13.8(b)(ii), to vote for the election of a trustee in bankruptcy or similar
person. 
  

 - 76 - 

 (d) All rights of action and of asserting claims under the Transaction Documents, may be
enforced by the Administrative/Collateral Agent without the possession of the Notes or the production thereof in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Administrative/Collateral Agent
shall be brought in its own name as Administrative/Collateral Agent, and any recovery of judgment, subject to the payment of the reasonable expenses, disbursements and compensation of the Administrative/Collateral Agent, each predecessor
Administrative/Collateral Agent and their respective agents and attorneys, shall be for the ratable benefit of the holders of the Notes and other Secured Parties. 
  
 (e) In any proceedings brought by the Administrative/Collateral Agent to enforce the Liens under the
Transaction Documents (and also any proceedings involving the interpretation of any provision of any Transaction Document), the Administrative/Collateral Agent shall be held to represent all the Secured Parties, and it shall not be necessary to make
any Secured Party a party to any such proceedings. 
  
 SECTION
13.9. Other Remedies. Following a Facility Termination Event, the Administrative/Collateral Agent may (with the consent of the Required Lenders) but shall have no obligation, or the Administrative/Collateral Agent shall, at the written
direction of the Required Lenders, also do one or more of the following (subject to Section 13.8): 
  
 (a) institute proceedings in its own name and on behalf of the Secured Parties as Administrative/Collateral Agent for the collection of
all amounts then payable on the Notes or hereunder and Fee Letter with respect thereto, whether by declaration or otherwise, enforce any judgment obtained, and collect from the Borrower and any other obligor upon the Notes moneys adjudged due;

  
 (b) institute proceedings from time to time
for the complete or partial foreclosure upon the Borrower Collateral; 
  
 (c) exercise any remedies of a secured party under the UCC and take any other appropriate action to protect and enforce the right and remedies of the Administrative/Collateral Agent and the Secured Parties; and

  
 (d) sell the Borrower Collateral or any
portion thereof or rights or interest therein, at one or more public or private sales called and conducted in any manner permitted by law. 
  
 SECTION 13.10. Limitation on Duty of Administrative/Collateral Agent in Respect of Collateral. 
  
 (a) Beyond the exercise of reasonable care in the custody
thereof, the Administrative/Collateral Agent shall have no duty as to any Borrower Collateral in its possession or control or in the possession or control of any agent or bailee or any income thereon or as to preservation of rights against prior
parties or any other rights pertaining thereto and the Administrative/Collateral Agent shall not be responsible for filing any 

  

 - 77 - 

 
financing or continuation statements or recording any documents or instruments in any public office at any time or times or otherwise perfecting or
maintaining the perfection of any security interest in the Borrower Collateral. The Administrative/Collateral Agent shall be deemed to have exercised reasonable care in the custody of the Borrower Collateral in its possession if the Borrower
Collateral is accorded treatment substantially equal to that which it accords its own property and shall not be liable or responsible for any loss or diminution in the value of any of the Borrower Collateral, by reason of the act or omission of any
carrier, forwarding agency or other agent or bailee selected by the Administrative/Collateral Agent in good faith. 
  
 (b) The Administrative/Collateral Agent shall not be responsible for the existence, genuineness or value of any of the Borrower Collateral
or for the validity, perfection, priority or enforceability of the Liens in any of the Borrower Collateral, whether impaired by operation of law or by reason of any action or omission to act on its part hereunder, except to the extent such action or
omission constitutes gross negligence or willful misconduct on the part of the Administrative/Collateral Agent, for the validity or sufficiency of the Borrower Collateral or any agreement or assignment contained therein, for the validity of the
title of the Borrower to the Borrower Collateral, for insuring the Borrower Collateral or for the payment of taxes, charges, assessments or Liens upon the Borrower Collateral or otherwise as to the maintenance of the Borrower Collateral. 

 
 (c) The Administrative/Collateral Agent shall have no
duty to act outside of the United States in respect of any Borrower Collateral located in any jurisdiction other than the United States. 
  
 (d) The Administrative/Collateral Agent may act through its agents or attorneys and shall not be liable for any misconduct or negligence
of any such agents or attorneys appointed with due care by it hereunder. 
  
 (e) In no event shall Administrative/Collateral Agent be liable for special, punitive or consequential damages. 
  
 ARTICLE XIV 
  
 FACILITY TERMINATION EVENTS 
  
 SECTION 14.1. Facility Termination Events. Each of the following shall constitute a Facility Termination Event under this Agreement: 
  
 (a) Default in the payment when due of any principal of any Advance, which default shall continue unremedied
for one Business Day, or default in the payment of any other amount payable by the Borrower or UACC (in any capacity) hereunder, including, without limitation, any Yield on any Advance or any Fees which default shall continue for two Business Days;

  

 - 78 - 

 (b) The Borrower, the Seller, the Servicer, the Guarantor, UPFC (in any capacity) or UACC
(in any capacity) shall fail to perform or observe any other term, covenant or agreement contained in this Agreement, or any other Transaction Document on its part to be performed or observed and, except in the case of the covenants and agreements
contained in Sections 11.6, 11.7 and 11.8, as to each of which no grace period shall apply, any such failure shall remain unremedied for 30 days after knowledge thereof or after written notice thereof shall have been given by the
Administrative/Collateral Agent to the Borrower, the Seller, the Servicer, the Guarantor, UPFC or UACC; 
  
 (c) Any representation or warranty of the Borrower, the Seller, the Servicer, the Guarantor, UPFC or UACC (in any capacity) made or deemed
to have been made hereunder or in any other Transaction Document or any other writing or certificate furnished by or on behalf of the Borrower, the Seller, the Servicer, the Guarantor, UPFC or UACC (in any capacity) to the Administrative/Collateral
Agent for purposes of or in connection with this Agreement or any other Transaction Document (including any Distribution Date Statement or Borrowing Base Confirmation) shall prove to have been false or incorrect in any material respect when made or
deemed to have been made; provided that no breach shall be deemed to occur hereunder in respect of any representation or warranty relating to the “eligibility” of any Transferred Contract if such Transferred Contract shall have been
purchased or repurchased by the Servicer, the Seller or the Borrower; 
  
 (d) An Insolvency Event shall have occurred and be continuing with respect to the Borrower, the Seller, the Servicer, the Guarantor, UPFC or UACC; 
  
 (e) The aggregate principal amount of all Advances outstanding hereunder exceeds the Initial Borrowing Base
and such condition continues unremedied for one Business Day; 
  
 (f) The Internal Revenue Service shall file notice of a lien pursuant to Section 6323 of the Internal Revenue Code with regard to any of the assets of the Borrower or the Seller and such lien shall not have been
released within 30 days, or the Pension Benefit Guaranty Corporation shall file notice of a lien pursuant to Section 4068 of ERISA with regard to any of the assets of the Borrower or the Seller and such lien shall not have been released within 30
days; 
  
 (g) (i) Any Transaction Document or any
lien or security interest granted thereunder by the Borrower, shall (except in accordance with its terms), in whole or in part, terminate, cease to be effective or cease to be the legally valid, binding and enforceable obligation of the Borrower; or
(ii) the Borrower, the Seller, the Servicer, the Guarantor, UPFC or UACC or any other party shall, directly or indirectly, contest in any manner the effectiveness, validity, binding nature or enforceability of any Transaction Document; or (iii) any
security interest securing any Obligation shall, in whole or in part, cease to be a perfected first priority security interest (except, as to priority, for Permitted Liens that may arise after the applicable Purchase Date) against the Borrower;

  

 - 79 - 

 (h) A Servicer Default shall have occurred and be continuing; 
  
 (i) the Delinquency Ratio exceeds (x) prior to the first
Take-Out Securitization, 4.00% or (y) after the first Take-Out Securitization, 2.00%; 
  
 (j) the Net Loss Ratio exceeds (x) prior to the first Take-Out Securitization, 8.00% or (y) after the first Take-Out Securitization,
3.50%; 
  
 (k) UACC fails to own directly or
indirectly 100% of the outstanding equity in the Borrower or UPFC fails to own directly or indirectly 100% of the outstanding equity in UACC; 
  
 (l) The Borrower, the Seller, the Servicer, the Guarantor, UPFC or UACC or any Subsidiary of any of the foregoing shall fail to pay any
principal of or premium or interest on any Indebtedness having a principal amount of $10,000,000 (or, in the case of the Borrower, $50,000) or greater, when the same becomes due and payable (whether by scheduled maturity, required prepayment,
acceleration, demand or otherwise) and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Indebtedness; or any other default under any agreement or instrument relating to
any such Indebtedness of the Borrower, the Seller, the Servicer, the Guarantor, UPFC or UACC or any such Subsidiary, as applicable; or any other event, shall occur and shall continue after the applicable grace period, if any, specified in such
agreement or instrument if the effect of such default or event is to accelerate, or to permit the acceleration of, the maturity of such Indebtedness; or any such Indebtedness shall be declared to be due and payable or required to be prepaid (other
than by a regularly scheduled required prepayment), redeemed, purchased or defeased, or an offer to prepay, redeem, purchase or defease such Indebtedness shall be required to be made, in each case, prior to the stated maturity thereof; or any early
amortization event, pay out event or other similar event shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to any such Indebtedness if the effect of such event is to cause the principal of
such Indebtedness to be amortized on an accelerated basis; 
  
 (m) UACC does not engage in at least two Take-Out Securitizations in each calendar year each of which includes 95% or more of the aggregate principal balance of Eligible Contracts at the time such Take-Out
Securitization closes, or UACC does not engage in such a Take-Out Securitization within 210 days after the later of (i) the last such Take-Out Securitization and (ii) the Effective Date; 
  
 (n) On any Distribution Date, after giving effect to all deposits and withdrawals on such date, the amount
on deposit in the Reserve Account is less than the Required Reserve Account Amount; 
  
 (o) On any Distribution Date, after giving effect to all deposits and withdrawals on such date, the amount on deposit in the Cap Funding
Reserve Account is less than the Cap Funding Reserve Account Requirement; 
  

 - 80 - 

 (p) The report of the auditors with respect to annual financial statements of the
Servicer delivered pursuant to Section 11.4(a) is qualified in any manner; or 
  
 (q) Ray Thousand shall cease to be CEO of UACC and the replacement CEO has not been approved by the Required Lenders. 
  
 SECTION 14.2. Effect of Facility Termination Event. 
  
 (a) Optional Termination. Upon notice by the Administrative/Collateral Agent that a Facility Termination Event (other than a
Facility Termination Event described in Section 14.1(d)) has occurred, the Required Lenders may declare all or any portion of the outstanding principal amount of the Advances and other Obligations to be due and payable, whereupon the full
unpaid amount of such Advances and other Obligations which shall be so declared due and payable shall be and become immediately due and payable, without further notice, demand or presentment and the Facility Termination Date shall be deemed to have
occurred. 
  
 (b) Automatic Termination.
Upon the occurrence of a Facility Termination Event described in Section 14.1(d), the Facility Termination Date shall be deemed to have occurred automatically, and all outstanding Advances under this Agreement and all other Obligations under
this Agreement shall become immediately and automatically due and payable, all without presentment, demand, protest or notice of any kind. 
  
 SECTION 14.3. Rights Upon Termination Event. If a Facility Termination Event shall have occurred and be continuing, the Required Lenders may direct
the Administrative/Collateral Agent to exercise any of the remedies specified herein in respect of the Borrower Collateral. 
  
 ARTICLE XV 
  
 THE AGENTS 
  
 SECTION 15.1. Appointment. Each Lender and each Agent hereunder hereby irrevocably designates and appoints Deutsche Bank Trust Company Americas as Administrative/Collateral Agent hereunder and under the other Transaction Documents,
and authorizes the Administrative/Collateral Agent to take such action on its behalf under the provisions of this Agreement and the other Transaction Documents and to exercise such powers and perform such duties as are expressly delegated to the
Administrative/Collateral Agent by the terms of this Agreement and the other Transaction Documents, together with such other powers as are reasonably incidental thereto. Each Lender in each Lender Group hereby irrevocably designates and appoints the
Agent for such Lender Group as the agent of such Lender under this Agreement, and each such Lender irrevocably authorizes such Agent, as the agent for such Lender, to take such action on its behalf under the provisions of this Agreement and the
other Transaction Documents and to exercise such powers and perform such duties thereunder as are expressly delegated to such Agent by the terms of this Agreement and the other Transaction Documents, together with such other powers as are reasonably
incidental thereto. The Administrative/Collateral Agent shall promptly deliver, but in any event no later than the 

  

 - 81 - 

 
following Business Day, a copy of any notice, certificate, report or other documents received by it in its capacity as Administrative/Collateral Agent to
each Agent. Notwithstanding any provision to the contrary elsewhere in this Agreement, neither the Administrative/Collateral Agent nor any Agent (the Administrative/Collateral Agent and each Agent being referred to in this Article as a “Note
Agent”) shall have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be
read into this Agreement or otherwise exist against any Note Agent. 
  
 SECTION 15.2. Delegation of Duties. Each Note Agent may execute any of its duties under this Agreement and the other Transaction Documents by or through its subsidiaries, affiliates, agents or attorneys-in-fact and shall be entitled
to advice of counsel concerning all matters pertaining to such duties. No Note Agent shall not be responsible for the negligence or misconduct of any agents or attorneys-in-fact selected by it with reasonable care. 
  
 SECTION 15.3. Exculpatory Provisions. Neither any Note Agent (acting
in such capacity) nor any of its directors, officers, agents or employees shall be (a) liable for any action lawfully taken or omitted to be taken by it or them or any Person described in Section 15.2 under or in connection with this
Agreement or the other Transaction Documents (except for its, their or such Person’s own gross negligence or willful misconduct), or (b) responsible in any manner to any Person for any recitals, statements, representations or warranties of any
Person (other than itself) contained in the Transaction Documents or in any certificate, report, statement or other document referred to or provided for in, or received under or in connection with, the Transaction Documents or for the value,
validity, effectiveness, genuineness, enforceability or sufficiency of the Transaction Documents or any other document furnished in connection therewith or herewith, or for any failure of any Person (other than itself or its directors, officers,
agents or employees) to perform its obligations under any Transaction Document or for the satisfaction of any condition specified in a Transaction Document. Except as otherwise expressly provided in this Agreement, no Note Agent shall be under any
obligation to any Person to ascertain or to inquire as to the observance or performance of any of the agreements or covenants contained in, or conditions of, the Transaction Documents, or to inspect the properties, books or records of the Borrower,
the Seller, UACC, the Guarantor, UPFC or the Servicer. 
  
 SECTION
15.4. Reliance by Agents. Each Note Agent shall in all cases be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy,
telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including,
without limitation, counsel to each of the Lenders), independent accountants and other experts selected by such Note Agent. Each Note Agent shall in all cases be fully justified in failing or refusing to take any action under this Agreement, any
other Transaction Document or any other document furnished in connection herewith or therewith unless it shall first receive such advice or concurrence of the Lenders, as it deems appropriate, or it shall first be indemnified to its satisfaction (i)
in the case of the Administrative/Collateral Agent, by the Lenders or (ii) in the case of an Agent, by the Lenders in its Lender Group, against 

  

 - 82 - 

 
any and all liability, cost and expense which may be incurred by it by reason of taking or continuing to take any such action. The Administrative/Collateral
Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement, the other Transaction Documents or any other document furnished in connection herewith or therewith in accordance with a request of the
Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders. Each Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement, the
other Transaction Documents or any other document furnished in connection herewith or therewith in accordance with a request of the Lenders in its Lender Group holding greater than 50% of the outstanding Advances held by such Lender Group, and such
request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders in such Lender Group. 
  
 SECTION 15.5. Notices. No Note Agent shall be deemed to have knowledge or notice of the occurrence of any breach of this Agreement or the
occurrence of any Facility Termination Event unless such Note Agent has received notice from the Servicer, the Borrower or any Lender, referring to this Agreement and describing such event. In the event that the Administrative/Collateral Agent
receives such a notice, it shall promptly give notice thereof to each Agent, and in the event any Agent receives such a notice, it shall promptly give notice thereof to the Lenders in its Lender Group. The Administrative/Collateral Agent shall take
such action with respect to such event as shall be reasonably directed by the Required Lenders, and each Agent shall take such action with respect to such event as shall be reasonably directed by (i) Lenders in its Lender holding greater than 50% of
the outstanding Advances held by such Lender Group; provided that unless and until such Note Agent shall have received such directions, such Note Agent may (but shall not be obligated to) take such action, or refrain from taking such action,
with respect to such event as it shall deem advisable in the best interests of the Lenders or of the Lenders in its Lender Group, as applicable. 
  
 SECTION 15.6. Non-Reliance on Agent. The Lenders expressly acknowledge that neither any Note Agent, nor any of its officers, directors, employees,
agents, attorneys-in-fact or affiliates has made any representations or warranties to it and that no act by a Note Agent hereafter taken, including, without limitation, any review of the affairs of the Borrower, the Borrower, the Seller, UACC, the
Guarantor, UPFC, the Servicer or the Backup Servicer, shall be deemed to constitute any representation or warranty by such Note Agent to any Lender. Each Lender represents to each Note Agent that it has, independently and without reliance upon any
Agent or any other Lender, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of the
Borrower, the Borrower, the Seller, UACC, the Guarantor, UPFC, the Servicer, the Backup Servicer, and the Contracts and made its own decision to purchase its interest in the Notes hereunder and enter into this Agreement. Each Lender also represents
that it will, independently and without reliance upon any Note Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis, appraisals and decisions in taking or
not taking action under any of the Transaction Documents, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness of the Borrower, the Seller,
UACC, the Guarantor, UPFC, the Servicer, the 

  

 - 83 - 

 
Backup Servicer, and the Contracts. Except as expressly provided herein, no Note Agent shall have any duty or responsibility to provide any Lender with any
credit or other information concerning the Borrower Collateral or the business, operations, property, prospects, financial and other condition or creditworthiness of the Borrower, the Seller, UACC, the Guarantor, UPFC, the Borrower, the Servicer,
the Lenders or the Backup Servicer which may come into the possession of such Note Agent or any of its officers, directors, employees, agents, attorneys-in-fact or affiliates. 
  
 In no event shall the Administrative/Collateral Agent or the Custodian be liable for any indirect, special, punitive or consequential loss
or damage of any kind whatsoever, including, but not limited to, lost profits, even if the Administrative/Collateral Agent or the Custodian has been advised of the likelihood of such loss or damage and regardless of the form of action. In no event
shall the Administrative/Collateral Agent be liable for any failure or delay in the performance of its obligations hereunder because of circumstances beyond its control, including, but not limited to, acts of God, flood, war (whether declared or
undeclared), terrorism, fire, riot, embargo, government action, including any laws, ordinances, regulations, governmental action or the like which delay, restrict or prohibit the providing of the services contemplated by this Agreement. 

 
 SECTION 15.7. Indemnification. (i) The Committed Lenders agree to
indemnify the Administrative/Collateral Agent and its officers, directors, employees, representatives and agents (to the extent not reimbursed by the Borrower, the Seller, the Guarantor, UPFC, the Servicer or UACC under the Transaction Documents,
and without limiting the obligation of such Persons to do so in accordance with the terms of the Transaction Documents), ratably according to their Commitment Percentages and (ii) the Committed Lenders in each Lender Group agree to indemnify the
Agent for such Lender Group in its capacity as such (without limiting the obligation (if any) of the Borrower, the Seller, the Guarantor, UPFC, the Servicer or UACC under the Transaction Documents to reimburse such Agent for any such amounts),
ratably according to their respective Commitments, in each case, from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever
(including, without limitation, the reasonable fees and disbursements of counsel for such Note Agent or the affected Person in connection with any investigative, or judicial proceeding commenced or threatened, whether or not such Note Agent or such
affected Person shall be designated a party thereto) that may at any time be imposed on, incurred by or asserted against such Note Agent or such affected Person as a result of, or arising out of, or in any way related to or by reason of, any of the
transactions contemplated hereunder or under the Transaction Documents or any other document furnished in connection herewith or therewith (but excluding any such liabilities, obligations, losses, damages, penalties, actions, judgments, suits,
costs, expenses or disbursements resulting solely from the gross negligence or willful misconduct of such Note Agent or such affected Person). The provisions of this Section 15.7 shall survive the termination of the Transaction Documents and the
resignation or removal of the Administrative/Collateral Agent or any other Note Agent. 
  
 SECTION 15.8. Successor Agent. The Administrative/Collateral Agent may, upon five (5) days’ notice to the Lenders (with a copy to the Borrower), resign as Administrative/Collateral Agent; provided,
in either case, that an Agent or a Lender agrees to become the successor 

  

 - 84 - 

 
Administrative/Collateral Agent hereunder in accordance with the next sentence. If the Administrative/Collateral Agent shall resign as
Administrative/Collateral Agent under this Agreement, then the Required Lenders during such period shall appoint from among the Agents and the Committed Lenders a successor agent, whereupon such successor agent shall succeed to the rights, powers
and duties of the Administrative/Collateral Agent, and the term “Administrative/Collateral Agent” shall mean such successor agent, effective upon its acceptance of such appointment, and the former Administrative/Collateral Agent’s
rights, powers and duties as Administrative/Collateral Agent shall be terminated, without any other or further act or deed on the part of such former Agent or any of the parties to this Agreement. In the event of any such resignation of the
Administrative/Collateral Agent, the Administrative/Collateral Agent shall promptly transfer (upon its receipt of any outstanding fees, expenses and indemnities due and owing to it) to the successor Administrative/Collateral Agent, as directed in
writing by the Required Lenders, all accounts, funds and investments being administered under this Agreement and shall cooperate with the Required Lenders, UACC and the successor administrative/collateral agent to facilitate the continued perfection
and priority of the Lien granted for the benefit of the Secured Parties in the Borrower Collateral. Any Agent may resign as Agent upon ten days’ notice to the Lenders in its Lender Group, the Administrative/Collateral Agent and each other
Agent, the Administrative/Collateral Agent, the Seller and the Servicer with such resignation becoming effective upon a successor agent succeeding to the rights, powers and duties of the Agent pursuant to this Section 15.8. If an Agent shall resign
as Agent under this Agreement, then Lenders in its Lender Group holding greater than 50% of the outstanding Advances held by such Lender Group shall appoint from among the Committed Lenders in such Lender Group a successor agent for such Lender
Group. After any retiring Note Agent’s resignation hereunder as Note Agent, the provisions of this Article XV shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Note Agent under this Agreement.
No resignation of any Note Agent shall become effective until a successor Note Agent shall have assumed the responsibilities and obligations of such Note Agent; provided, however, that in the event a successor note Agent is not
appointed within 60 days after such Note Agent has given notice of its resignation as permitted by this Section 15.8, such Note Agent may petition a court for its removal. 
  
 SECTION 15.9. Agents in their Individual Capacity. Each Note Agent and its Affiliates may make loans to, accept
deposits from and generally engage in any kind of business with the Borrower, the Seller, UACC, the Guarantor, UPFC, the Servicer, the Backup Servicer or the Administrative/Collateral Agent as though such Note Agent were not an agent hereunder. In
addition, the Lenders acknowledges that one or more Persons which are Note Agents may act (i) as administrator, sponsor or agent for one or more Noncommitted Lenders and in such capacity acts and may continue to act on behalf of each such
Noncommitted Lender in connection with its business, and (ii) as the agent for certain financial institutions under the liquidity and credit enhancement agreements relating to this Agreement to which any one or more Noncommitted Lenders is party and
in various other capacities relating to the business of any such Noncommitted Lender under various agreements. Any such Person, in its capacity as Note Agent, shall not, by virtue of its acting in any such other capacities, be deemed to have duties
or responsibilities hereunder or be held to a standard of care in connection with the performance of its duties as a Note Agent other than as expressly provided in this Agreement. Any Person which 

  

 - 85 - 

 
is a Note Agent may act as a Note Agent without regard to and without additional duties or liabilities arising from its role as such administrator or agent
or arising from its acting in any such other capacity. 
  
 ARTICLE
XVI 
  
 ASSIGNMENTS 
  
 SECTION 16.1. Restrictions on Assignments. Except as specifically
provided herein (with respect to the Servicer and the Backup Servicer), neither Borrower, the Seller, the Guarantor, UPFC, the Servicer, UACC, the Administrative/Collateral Agent, the Custodian nor Backup Servicer may assign any of their respective
rights or obligations hereunder or any interest herein without the prior written consent of the Administrative/Collateral Agent and the Required Lenders. No Noncommitted Lender shall assign any of its Advances or rights hereunder without the consent
of its Committed Lenders; and no Committed Lender may assign any of its Advances or rights or commitments hereunder without the consent of the related Noncommitted Lenders. 
  
 SECTION 16.2. Documentation. Each Lender shall deliver to each assignee an assignment, in such form as such Lender
and the related assignee may agree, duly executed by such Lender assigning any such rights, obligations, Advance or Note to the assignee; and such Lender shall promptly execute and deliver all further instruments and documents, and take all further
action, that the assignee may reasonably request, in order to perfect, protect or more fully evidence the assignee’s right, title and interest in and to the items assigned, and to enable the assignee to exercise or enforce any rights hereunder
or under the Notes evidencing such Advance. 
  
 SECTION 16.3.
Rights of Assignee. Upon the foreclosure of any assignment of any Advances made for security purposes, or upon any other assignment of any Advance from any Lender pursuant to this Article XVI, the respective assignee receiving such
assignment shall have all of the rights of such Lender hereunder with respect to such Advances and all references to the Lender or Investors in Section 6.1 shall be deemed to apply to such assignee. 
  
 SECTION 16.4. Notice of Assignment. Each Lender shall provide notice
to the Borrower of any assignment hereunder by such Lender to any assignee. Each Lender authorizes the related Agent to, and such Agent agrees that it shall, endorse the Notes to reflect any assignments made pursuant to this Article XVI or
otherwise. 
  
 SECTION 16.5. Registration; Registration of
Transfer and Exchange. 
  
 (a) The
Administrative/Collateral Agent shall keep a register (the “Note Register”) in which, subject to such reasonable regulations as it may prescribe, the Administrative/Collateral Agent shall provide for the registration of the Notes
and of transfer of interests in the Notes. The Administrative/Collateral Agent is hereby appointed “Note Registrar” for the purpose of registering the Notes and transfers of the Notes as herein provided. 
  

 - 86 - 

 (b) Each person who has or who acquired an interest in a Note shall be deemed by such
acquisition to have agreed to be bound by the provisions of this Section 16.5. A Note may be exchanged (in accordance with Section 16.5(c)) and transferred to the holders (or their agents or nominees) of the Advances and to any
assignee (in accordance with Section 16.1) (or its agent or nominee) of all or a portion of the Advances. The Administrative/Collateral Agent shall not register (or cause to be registered) the transfer of such Note, unless the proposed
transferee shall have delivered to the Administrative/Collateral Agent (i) either (x) evidence satisfactory to it that the transfer of such Note is exempt from registration or qualification under the Securities Act of 1933, as amended, and all
applicable state securities laws and that the transfer does not constitute a “prohibited transaction” under ERISA or (y) an express agreement by the proposed transferee to be bound by and to abide by the provisions of this Section
16.5, the restrictions noted on the face of such Note and (ii) a properly executed Form W-9 and, in the case of a transferee who is a foreign person (within the meaning of Section 7701(a)(5) of the Code), a properly executed Form W-8ECI or Form
W-8BEN. 
  
 (c) At the option of the holder
thereof, a Note may be exchanged for one or more new Notes of any authorized denominations and of a like class and aggregate principal amount at an office or agency of the Borrower. Whenever any Note is so surrendered for exchange, the Borrower
shall execute and deliver (through the Administrative/Collateral Agent) the new Note which the holder making the exchange is entitled to receive. 
  
 (d) Upon surrender for registration of transfer of any Note at an office or agency of the Borrower, the Borrower shall execute and deliver
(through the Administrative/Collateral Agent), in the name of the designated transferee or transferees, one or more new Notes of any authorized denominations and of a like class and aggregate principal amount. 
  
 (e) All Notes issued upon any registration of transfer or
exchange of any Note in accordance with the provisions of this Agreement shall be the valid obligations of the Borrower, evidencing the same debt, and entitled to the same benefits under this Agreement, as the Note(s) surrendered upon such
registration of transfer or exchange. 
  
 (f)
Every Note presented or surrendered for registration of transfer or for exchange shall (if so required by the Borrower or the Administrative/Collateral Agent) be fully endorsed, or be accompanied by a written instrument of transfer in form
satisfactory to the Note Registrar, duly executed by the holder thereof or his attorney duly authorized in writing. Each such Note shall be accompanied by a statement providing the name of the transferee and indicating whether the transferee is
subject to income tax backup withholding requirements and whether the transferee is the sole beneficial owner of such Notes. 
  
 (g) No service charge shall be made for any registration of transfer or exchange of a Note, but the Borrower may require payment from the
transferee holder of a sum sufficient to cover any tax or other governmental charge that may be imposed in 

  

 - 87 - 

 
connection with any registration of transfer of exchange of a Note, other than exchanges pursuant to this Section 16.5. 
  
 (h) The holders of the Notes shall be bound by the terms and
conditions of this Agreement. 
  
 SECTION 16.6. Mutilated,
Destroyed, Lost and Stolen Notes. 
  
 (a) If
any mutilated Note is surrendered to the Administrative/Collateral Agent, the Borrower shall execute and deliver (through the Administrative/Collateral Agent) in exchange therefor a new Note of like class and tenor and principal amount and bearing a
number not contemporaneously outstanding. 
  
 (b)
If there shall be delivered to the Borrower and the Administrative/Collateral Agent prior to the payment of the Notes (i) evidence to their satisfaction of the destruction, loss or theft of any Note and (ii) such security or indemnity as may be
required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Borrower or the Administrative/Collateral Agent that such Note has been acquired by a bona fide Lender, the Borrower shall
execute and deliver (through the Administrative/Collateral Agent), in lieu of any such destroyed, lost or stolen Note, a new Note of like class, tenor and principal amount and bearing a number not contemporaneously outstanding. 
  
 (c) Upon the issuance of any new Note under this Section
16.6, the Borrower may require the payment from the transferor holder of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses connected therewith. 
  
 (d) Every new Note issued pursuant to this Section
16.6 and in accordance with the provisions of this Agreement, in lieu of any destroyed, lost or stolen Note shall constitute an original additional contractual obligation of the Borrower, whether or not the destroyed, lost or stolen Note shall
be at any time enforceable by anyone, and shall be entitled to all the benefits of this Agreement equally and proportionately with any and all other Notes duly issued hereunder. 
  
 (e) The provisions of this Section 16.6 are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement or payment of a mutilated, destroyed, lost or stolen Note. 
  
 SECTION 16.7. Persons Deemed Owners. The Borrower, the Servicer, the Seller, the Agents, the Administrative/Collateral Agent and any agent for any
of the foregoing may treat the holder of any Note as the owner of such Note for all purposes whatsoever, whether or not such Note may be overdue, and none of Borrower, the Seller, the Guarantor, UPFC, the Servicer, the Agents, the
Administrative/Collateral Agent and any such agent shall be affected by notice to the contrary. 
  

 - 88 - 

 SECTION 16.8. Cancellation. All Notes surrendered for payment or registration of transfer or
exchange shall be promptly canceled. The Borrower shall promptly cancel and deliver to the Administrative/Collateral Agent any Notes previously authenticated and delivered hereunder which the Borrower may have acquired in any manner whatsoever, and
all Notes so delivered shall be promptly canceled by the Borrower. No Notes shall be authenticated in lieu of or in exchange for any Notes canceled as provided in this Section 16.8, except as expressly permitted by this Agreement. 

 
 SECTION 16.9. Participations; Pledge. 
  
 (a) At any time and from time to time, each Lender may, in
accordance with applicable law, at any time grant participations in all or a portion of its Commitment and/or its interest in the Advances and other payments due to it under this Agreement to any Person (each, a “Participant”);
provided, however, that no participation shall be granted to any Person unless and until the Administrative/Collateral Agent shall have consented thereto (which consent shall not be unreasonably withheld or delayed). Each Lender hereby
acknowledges and agrees that (A) any such participation will not alter or affect such Lender’s direct obligations hereunder, and (B) neither Borrower, the Seller, the Guarantor, UPFC, Administrative/Collateral Agent, any Agent, the Backup
Servicer nor the Servicer shall have any obligation to have any communication or relationship with any Participant. Each Participant shall comply with the provisions of Section 5.1(c). No Participant (i) which is other than an Eligible
Assignee shall be entitled to receive additional amounts under Section 6.1 in excess of the additional amounts its lead Lender would have been entitled to receive had such participation not been granted unless such Participant was consented
to by the Borrower or (ii) shall be entitled to transfer all or any portion of its participation without the prior written consent of the Administrative/Collateral Agent. 
  
 (b) Each Lender may pledge its interest in the Advances and the Notes to any Federal Reserve Bank as
collateral in accordance with applicable law. 
  
 ARTICLE XVII

  
 INDEMNIFICATION 
  
 SECTION 17.1. General Indemnity. Without limiting any other rights
which any such Person may have hereunder or under applicable law, UPFC agrees to indemnify the Administrative/Collateral Agent, the Investors, the Agents, the Custodian and each Eligible Assignee and each of their Affiliates, and each of their
respective successors, transferees, participants and assigns and all officers, directors, shareholders, controlling persons, employees and agents of any of the foregoing (each of the foregoing Persons being individually called an
“Indemnified Party”), forthwith on demand, from and against any and all damages, losses, claims, liabilities and related costs and expenses, including reasonable attorneys’ fees and disbursements (all of the foregoing being
collectively called “Indemnified Amounts”) awarded against or incurred by any of them arising out of or relating to any Transaction Document or the transactions contemplated thereby or the use of proceeds therefrom by the Borrower,
the Seller 

  

 - 89 - 

 
or UACC, including (without limitation) in respect of the funding of any Advance or in respect of any Transferred Contract, excluding, however,
(a) Indemnified Amounts payable to an Indemnified Party to the extent determined by a court of competent jurisdiction to have resulted from gross negligence or willful misconduct on the part of any Indemnified Party or its agent or subcontractor,
(b) except as otherwise provided herein, non-payment by any Obligor of an amount due and payable with respect to a Transferred Contract, (c) any loss in value of any Financed Vehicle or Permitted Investment due to changes in market conditions or for
other reasons beyond the control of the Borrower, the Seller or the Servicer or (d) any tax upon or measured by net income on any Indemnified Party. Without limiting the foregoing, but subject to the exclusions (a) through (d) above, UPFC agrees to
indemnify each Indemnified Party for Indemnified Amounts arising out of or relating to: 
  

	 	(i)	the breach of any representation or warranty made by the Borrower, the Seller or UACC (or any of their respective officers) under or in connection with this Agreement or the other
Transaction Documents, any Distribution Date Statement, Borrowing Base Confirmation or any other information, report or certificate delivered by the Borrower, the Seller or Servicer pursuant hereto or thereto, which shall have been false or
incorrect in any material respect when made or deemed made, provided that a breach of a representation or warranty with respect to the eligibility of any Transferred Contract will not result in liability hereunder once either (A) such
Transferred Contract is repurchased by UACC pursuant to the Contracts Purchase or (B) such Transferred Contract is no longer included in the Initial Borrowing Base and the outstanding principal amount of Advances is less than or equal to the Initial
Borrowing Base; 

  

	 	(ii)	any claim arising out of the failure by the Borrower, the Seller or UACC to comply in any material way with any applicable law, rule or regulation with respect to any Transferred
Contract or any Financed Vehicle, or the nonconformity of any Transferred Contract with any such applicable law, rule or regulation; 

  

	 	(iii)	any claim arising out of any failure of UACC or an Affiliate of the Borrower, as Servicer, to perform its duties or obligations in accordance with the provisions of Article
VIII or any provision contained in any Transaction Document; 

  

	 	(iv)	any claim involving products liability that arises out of or relates to merchandise or services that are the subject of any Transferred Contract or strict liability claim in
connection with any Financed Vehicle related to a Transferred Contract; 

  

	 	(v)	 any tax or governmental fee or charge (but not including taxes upon or measured by net income), all interest and penalties thereon 

  

 - 90 - 

	 	 
or with respect thereto, and all out-of-pocket costs and expenses, including the reasonable fees and expenses of counsel in defending against the same, which
may arise by reason of the making, maintenance or funding, directly or indirectly, of any Advance, or any other interest in the Borrower Collateral; 

  

	 	(vi)	the offering or effectuation of any Take-Out Securitization; 

  

	 	(vii)	the use, ownership or operation, if any, by UACC or any Affiliate thereof of a Financed Vehicle; 

  

	 	(viii)	negligence, misfeasance or bad faith of UACC in the performance of its duties under the Transaction Documents (including any violation of law); 

  

	 	(ix)	the commingling of the proceeds of Borrower Collateral at any time with other funds; or 

  

	 	(x)	any payments from time to time to Interest Rate Cap Counterparties pursuant to Section 9.5(a) resulting from any mismatch between the aggregate notional amount of the Interest Rate
Caps and the aggregate outstanding principal amount of the Advances. 

  
 Indemnification under this Section 17.1 shall survive the termination of this Agreement and the resignation or removal of any Indemnified Party and shall include reasonable fees and expenses of counsel and expenses of litigation. If
UPFC has made any indemnity payments pursuant to this Section 17.1 and the recipient thereafter collects any of such amounts from others, the recipient shall promptly repay such amounts collected to such Person, without interest. 

 
 SECTION 17.2. Contribution. If for any reason (other than the
exclusions (a) through (d) set forth in the first paragraph of Section 17.1) the indemnification provided above in Section 17.1 is unavailable to an Indemnified Party or is insufficient to hold an Indemnified Party harmless, then UPFC
agrees to contribute to the amount paid or payable by such Indemnified Party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect not only the relative benefits received by such Indemnified Party, on
the one hand, and UPFC, UACC, the Borrower, the Seller and its Affiliates, on the other hand, but also the relative fault of such Indemnified Party, on the one hand, and UPFC, UACC, the Borrower, the Seller and its Affiliates, on the other hand, as
well as any other relevant equitable considerations. 
  
 ARTICLE
XVIII 
  
 MISCELLANEOUS 
  
 SECTION 18.1. No Waiver; Remedies. No failure on the part of any
Investor, any Agent, Administrative/Collateral Agent any Indemnified Party or any Affected Person to 

  

 - 91 - 

 
exercise, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof; nor shall any single or partial exercise by any
of them of any right, power or remedy hereunder preclude any other or further exercise thereof, or the exercise of any other right, power or remedy. The remedies herein provided are cumulative and not exclusive of any remedies provided by law.
Without limiting the foregoing, each Investor and Participant is hereby authorized by the Borrower, the Seller and UACC at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or
special, time or demand, provisional or final) at any time held and other indebtedness at any time owing by it to or for the credit or the account of the Borrower, the Seller or UACC (as the case may be) to the amounts owed by the Borrower, the
Seller or UACC, respectively, under this Agreement, to the Administrative/Collateral Agent, the Agents, any Affected Person, any Indemnified Party or any Investor or their respective successors and assigns. 
  
 SECTION 18.2. Amendments, Waivers. This Agreement may not be amended,
supplemented or modified nor may any provision hereof be waived except in accordance with the provisions of this Section 18.2. With the written consent of the Required Lenders, the Agents, Borrower, the Seller, the Guarantor, UPFC, the
Servicer, UACC, Administrative/Collateral Agent the Custodian and the Backup Servicer may, from time to time, enter into written amendments, supplements, waivers or modifications hereto for the purpose of adding any provisions to this Agreement or
changing in any manner the rights of any party hereto or waiving, on such terms and conditions as may be specified in such instrument, any of the requirements of this Agreement (which consent shall not be unreasonably withheld if such amendment,
supplement, waiver or modification is accompanied by an Opinion of Counsel that such amendment, supplement, waiver or modification will not adversely affect in any material respect the Required Lenders, the Agents or the Administrative/Collateral
Agent); provided, however, that no such amendment, supplement, waiver or modification shall (i) reduce the amount of or extend the maturity of any payment with respect to an Advance or reduce the rate or extend the time of payment of
Yield thereon, or reduce or alter the timing of any other amount payable to any Lender hereunder, in each case without the consent of each Lender affected thereby or (ii) amend, modify or waive any provision of this Section 18.2 or 18.11, or
reduce the percentage specified in the definition of Required Lenders, in each case without the written consent of all Lenders. Any waiver of any provision of this Agreement shall be limited to the provisions specifically set forth therein for the
period of time set forth therein and shall not be construed to be a waiver of any other provision of this Agreement. No amendment, supplement, modification or waiver of this Agreement shall take effect unless each Rating Agency shall have confirmed
that such action will not result in the withdrawal or reduction of its rating of the Notes. 
  
 SECTION 18.3. Notices, Etc. All notices and other communications provided for hereunder shall, unless otherwise stated herein, be in writing (including facsimile communication) and shall be personally delivered
or sent by certified mail, postage prepaid, or by facsimile, to the intended party at the address or facsimile number of such party set forth under its name on the signature pages hereof or at such other address or facsimile number as shall be
designated by such party in a written notice to the other parties hereto. All such notices and communications shall be effective, (a) if personally delivered, when received, (b) if sent by 

  

 - 92 - 

 
certified mail, three Business Days after having been deposited in the mail, postage prepaid, (c) if sent by overnight courier, one Business Day after having
been given to such courier, and (d) if transmitted by facsimile, when sent, receipt confirmed by telephone or electronic means, except that notices and communications pursuant to Section 2.2 shall not be effective until received. 

 
 SECTION 18.4. Costs, Expenses and Taxes. (a) In addition to the
rights of indemnification granted under Section 17.1, the Borrower or UACC on behalf of the Borrower agrees to pay on demand all reasonable costs and expenses of the Administrative/Collateral Agent in connection with the preparation (subject
to the Fee Letter), execution, delivery, syndication and administration of this Agreement, any Noncommitted Lender Liquidity Arrangement or other liquidity support facility and the other documents and agreements to be delivered hereunder or with
respect hereto, and UACC further agrees to pay all reasonable costs and expenses of the Administrative/Collateral Agent in connection with any amendments, waivers or consents executed in connection with this Agreement and any Noncommitted Lender
Liquidity Arrangement or other liquidity support facility, including, without limitation, the reasonable fees and out-of-pocket expenses of counsel for the Administrative/Collateral Agent with respect thereto and with respect to advising the
Administrative/Collateral Agent as to its rights and remedies under this Agreement and any Noncommitted Lender Liquidity Arrangement or other liquidity support facility, and to pay all costs and expenses, if any (including reasonable counsel fees
and expenses), of the Administrative/Collateral Agent, the Agents, the Lenders, the Investors, the Administrative/Collateral Agent and their respective Affiliates, in connection with the enforcement against UACC or the Borrower of this Agreement or
any of the other Transaction Documents and the other documents and agreements to be delivered hereunder or with respect hereto. 
  
 (b) In addition, UACC shall pay any and all stamp, personal property, transfer and other taxes and fees payable in connection with the execution,
delivery, filing and recording of this Agreement, the Note, applicable UCC financing statements or the other documents or agreements to be delivered hereunder, and the pledge of the Borrower Collateral, and agrees to save each Indemnified Party
harmless from and against any liabilities with respect to or resulting from any delay in paying or omission to pay such taxes and fees. 
  
 SECTION 18.5. Binding Effect; Survival. This Agreement shall be binding upon and inure to the benefit of Borrower, the Seller, the Guarantor, UPFC,
the Investors, the Agents, the Administrative/Collateral Agent, the Back-Up Servicer, the Custodian, the Servicer, UACC, the Administrative/Collateral Agent and their respective successors and assigns, and the provisions of Section 5.1(b),
Article VI, Section 12.1 and Article XVII shall inure to the benefit of the Affected Persons and the Indemnified Parties, respectively, and their respective successors and assigns; provided, however, nothing in the
foregoing shall be deemed to authorize any assignment not permitted by Article XVI. 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 when all Obligations have been finally and fully paid and performed. The rights and remedies with respect to any breach of any representation and warranty made by the Borrower pursuant to Article X and the
indemnification and payment provisions of Article VI, Section 12.1 and Article XVII and the provisions of Section 18.10, 

  

 - 93 - 

 
Section 18.11 and Section 18.12 shall be continuing and shall survive any termination of this Agreement and any termination of UACC’s
rights to act as Servicer hereunder or under any other Transaction Document. 
  
 SECTION 18.6. Captions and Cross References. The various captions (including, without limitation, the table of contents) in this Agreement are provided solely for convenience of reference and shall not affect
the meaning or interpretation of any provision of this Agreement. Unless otherwise indicated, references in this Agreement to any Section, Schedule or Exhibit are to such Section of or Schedule or Exhibit to this Agreement, as the case may be, and
references in any Section, subsection, or clause to any subsection, clause or subclause are to such subsection, clause or subclause of such Section, subsection or clause. 
  
 SECTION 18.7. Severability. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of such provision in any other
jurisdiction. 
  
 SECTION 18.8. GOVERNING LAW. THIS
AGREEMENT AND THE NOTES SHALL BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY OTHERWISE APPLICABLE CONFLICT OF LAW PRINCIPLES (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS
LAW). 
  
 SECTION 18.9. Counterparts. This Agreement may be
executed by the parties hereto in several counterparts, each of which shall be deemed to be an original but all of which shall constitute together but one and the same agreement. 
  
 SECTION 18.10. WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY
WAIVES ANY RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS AGREEMENT OR ANY OTHER TRANSACTION DOCUMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS
(WHETHER VERBAL OR WRITTEN) OR ACTIONS OF THE SELLER, THE BORROWER, THE SERVICER, ADMINISTRATIVE/COLLATERAL AGENT, THE AGENTS, THE INVESTORS OR ANY OTHER AFFECTED PERSON. EACH PARTY HERETO ACKNOWLEDGES AND AGREES THAT IT HAS RECEIVED FULL AND
SUFFICIENT CONSIDERATION FOR THIS PROVISION (AND EACH OTHER PROVISION OF EACH OTHER TRANSACTION DOCUMENT TO WHICH IT IS A PARTY) AND THAT THIS PROVISION IS A MATERIAL INDUCEMENT FOR ITS ENTERING INTO THIS AGREEMENT AND EACH SUCH OTHER TRANSACTION
DOCUMENT. 
  

 - 94 - 

 SECTION 18.11. No Proceedings. 
  
 (a) Each of the Borrower, the Seller, UACC, the Guarantor, UPFC, the Custodian, the Servicer, the Backup
Servicer, Administrative/Collateral Agent, each Agent and each Investor hereby agrees that it will not institute against any Lender which is a Structured Lender, or join any other Person in instituting against such Lender, any insolvency proceeding
(namely, any proceeding of the type referred to in the definition of Insolvency Event) so long as any commercial paper or other senior indebtedness issued by such Lender shall be outstanding or there shall not have elapsed one year plus one
day since the last day on which any such commercial paper or other senior indebtedness shall be outstanding. The foregoing shall not limit such Person’s right to file any claim in or otherwise take any action with respect to any insolvency
proceeding that was instituted by any Person other than such Person. 
  
 (b) Each of DBNY, UACC, the Custodian, the Servicer, the Seller, the Backup Servicer, each Agent, each Investor and the Administrative/Collateral Agent hereby agrees that it will not institute against the Borrower, or
join any other Person in instituting against the Borrower, any insolvency proceeding (namely, any proceeding of the type referred to in the definition of Insolvency Event) so long as any Advances or other amounts due from the Borrower hereunder
shall be outstanding or there shall not have elapsed one year plus one day since the last day on which any such Advances or other amounts shall be outstanding. The foregoing shall not limit such Person’s right to file any claim in or
otherwise take any action with respect to any insolvency proceeding that was instituted by any Person other than such Person. 
  
 SECTION 18.12. Limited Recourse to the Lenders. No recourse under any obligation, covenant or agreement of a Lender contained in this Agreement
shall be had against any incorporator, stockholder, officer, director, member, manager, employee or agent of any Lender or any of its Affiliates (solely by virtue of such capacity) by the enforcement of any assessment or by any legal or equitable
proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that this Agreement is solely a corporate obligation of each Lender, and that no personal liability whatever shall attach to or be incurred by any
incorporator, stockholder, officer, director, member, manager, employee or agent of any Lender or any of their Affiliates (solely by virtue of such capacity) or any of them under or by reason of any of the obligations, covenants or agreements of a
Lender contained in this Agreement, or implied therefrom, and that any and all personal liability for breaches by a Lender of any of such obligations, covenants or agreements, either at common law or at equity, or by statute, rule or regulation, of
every such incorporator, stockholder, officer, director, member, manager, employee or agent is hereby expressly waived as a condition of and in consideration for the execution of this Agreement; provided that the foregoing shall not relieve
any such Person from any liability it might otherwise have as a result of their willful misconduct, gross negligence or of fraudulent actions taken or fraudulent omissions made by them. 
  
 SECTION 18.13. Custodian. Deutsche Bank Trust Company Americas accepts and agrees to its designation and appointment
as Custodian under the Sale and Servicing Agreement and agrees to perform its obligations under such agreement in accordance with the terms thereof and for the benefit of the Borrower and the Secured Parties. The Custodian may at any time 

  

 - 95 - 

 
resign as such by delivering the contents of the Contract Files to any successor Custodian designated by the Borrower in writing, or to any court of
competent jurisdiction, whereupon the Custodian shall be discharged of and from any and all further obligations arising in connection with this Agreement. The resignation of the Custodian will take effect on the earlier of (a) the appointment of a
successor (including by a court of competent jurisdiction) or (b) the day which is 30 days after the date of delivery of its written notice of resignation to the Borrower. If a successor Custodian does not take office within 30 days after the
retiring Custodian resigns or is removed, the retiring Custodian may petition any court of competent jurisdiction for the appointment of a successor Custodian. 
  

SECTION 18.14. ENTIRE AGREEMENT. THIS AGREEMENT AND THE OTHER TRANSACTION DOCUMENTS EXECUTED AND DELIVERED HEREWITH REPRESENT THE FINAL
AGREEMENT BETWEEN THE PARTIES HERETO AND THERETO AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 
  
 SECTION 18.15. Confidentiality. (a) The Borrower, the Servicer, the
Seller and UACC shall hold in confidence, and not disclose to any Person, the identity of any Lender or the terms of any fees payable in connection with this Agreement except they may disclose such information (i) to their affiliates and its and
their officers, directors, employees, agents, counsel, accountants, auditors, advisors or representatives, (ii) with the consent of such Lender, or (iii) to the extent the Borrower, the Seller, UACC, the Guarantor, UPFC or the Servicer or any
Affiliate of any of them should be required by any law or regulation applicable to it or requested by any Official Body to disclose such information; provided, that, in the case of clause (iii), the Borrower, the Seller, UACC, the Guarantor,
UPFC or the Servicer, as the case may be, will use all reasonable efforts to maintain confidentiality and will (unless otherwise prohibited by law) notify the Administrative/Collateral Agent of its intention to make any such disclosure prior to
making such disclosure. 
  
 (b) The Administrative/Collateral
Agent, each Agent and each Lender, severally and with respect to itself only, covenants and agrees that any information obtained by the Administrative/Collateral Agent, such Agent or such Lender pursuant to this Agreement shall be held in confidence
(it being understood that documents provided to the Administrative/Collateral Agent hereunder may in all cases be distributed by the Administrative/Collateral Agent to the Agents and the Lenders) except that the Administrative/Collateral Agent, such
Agent or such Lender may disclose such information (i) to its affiliates, officers, directors, employees, agents, counsel, accountants, auditors, advisors or representatives, (ii) to the extent such information has become available to the public
other than as a result of a disclosure by or through the Administrative/Collateral Agent, such Agent or such Lender, (iii) to the extent such information was available to the Administrative/Collateral Agent, such Agent or such Lender on a
nonconfidential basis prior to its disclosure to the Administrative/Collateral Agent, such Agent or such Lender hereunder, (iv) with the consent of UACC, (v) to the extent permitted by Article XVI, (vi) to the extent the
Administrative/Collateral Agent, such Agent or such Lender should be (A) required in connection with any legal or regulatory proceeding or (B) requested by any 

  

 - 96 - 

 
Official Body to disclose such information, (vii) for the purposes of establishing a “due diligence” defense, (viii) in the case of any Lender that
is a Structured Lender, to rating agencies, placement agents and providers of liquidity and credit support who agree to hold such information in confidence or (ix) at any time which is 18 months after such information was provided to the
Administrative/Collateral Agent, such Agent or such Lender; provided, that, in the case of clause (vi) above, the Administrative/Collateral Agent, such Agent or such Lender, as applicable, will use all reasonable efforts to maintain
confidentiality and, in the case of clause (vi)(A) above, will (unless otherwise prohibited by law) notify UACC of its intention to make any such disclosure prior to making any such disclosure. 
  
 [signature pages begin on next page] 
  

 - 97 - 

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

			
	 UPFC FUNDING CORP.

		
	By:	 	 /s/ Garland Koch

	 	 	 Name: Garland Koch

	 	 	 Title:   Senior Vice President
 3990 Westerly Place, Suite 200
 Newport Beach, CA 92660
 Attention: Garland Koch
 Facsimile No.: 949-224-1910

	
	UNITED AUTO CREDIT CORPORATION, individually and as Seller and Servicer
		
	By:	 	 /s/ Mario Radrigan

	 	 	 Name: Mario Radrigan

	 	 	 Title:   Executive Vice President
 3990 Westerly Place, Suite 200
 Newport Beach, CA 92660
 Attention: Garland Koch
 Facsimile No.: 949-224-1910

	
	 UNITED PANAM FINANCIAL CORP.

		
	By:	 	 /s/ Ray Thousand

	 	 	 Name: Ray Thousand

	 	 	 Title:   President and Chief Executive Officer
 3990 Westerly Place, Suite 200
 Newport Beach, CA 92660
 Attention: Garland Koch
 Facsimile No.: 949-224-1910

  
 [Signature page
to Receivables Financing Agreement] 
  

			
	
	 DEUTSCHE BANK TRUST COMPANY AMERICAS, as Administrative/Collateral Agent

		
	By:	 	 /s/ Eileen M. Hughes

	 	 	 Name: Eileen M. Hughes

	 	 	 Title:   Vice President

		
	By:	 	 /s/ Tara Richards

	 	 	 Name: Tara Richards

	 	 	 Title:    Associate

	
	 60 Wall Street
 New York, New York
10005
 Attention: Asset Finance Department
 Facsimile No.: (212)
797-8626

  
 [Signature page
to Receivables Financing Agreement] 
  

			
	
	 DEUTSCHE BANK TRUST COMPANY AMERICAS, as Custodian

		
	By:	 	 /s/ Christopher Corcoran

	 	 	 Name: Christopher Corcoran

	 	 	 Title:   Assistant Vice President

		
	By:	 	 /s/ Tsutomu Yoshida

	 	 	 Name: Tsutomu Yoshida

	 	 	 Title:    Assistant Vice President

	
	 1761 East St. Andrew Place
 Santa Ana, CA
92705
 Attention: Mortgage Custody
 Facsimile No.: (714)
247-6082

  
 [Signature page
to Receivables Financing Agreement] 
  

			
	 CENTERONE FINANCIAL SERVICES LLC, as Backup Servicer

		
	By:	 	 /s/ Edward J. Brown, Jr.

	 	 	 Name: Edward J. Brown, Jr.

	 	 	 Title:    Executive Vice President

	
	 Address: 190 Jim Moran Blvd.
 Address:
Deerfield Beach, FL 33442
 Attention: Executive Vice President
 Facsimile No.: (954) 596-3070

  
 [Signature page
to Receivables Financing Agreement] 
  

 GEMINI LENDER GROUP 
  

											
	 Type of Lender:
 Noncommitted Lender
	 	 	 	 GEMINI SECURITIZATION CORP., LLC

				
	 Maximum Purchase
	 	 	 	By:	 	 /s/ R. Douglas Donaldson

	 Amount: $200,000,000
	 	 	 	 	 	 Name:
	 	 R. Douglas Donaldson

	 	 	 	 	 	 	 Title:
	 	 Treasurer

			
	 	 	 	 	 Address for Notices:

			
	 	 	 	 	 c/o Ropes & Gray
 One International Place
 Boston, Massachusetts 02110
 Attn: R. Douglas Donaldson
 Telecopier: (617) 951-7050

			
	 	 	 	 	 with a copy to:

			
	 	 	 	 	 c/o Deutsche Bank AG, New York Branch, Agent
 60 Wall Street
 New York, New York 10005
 Attention: Conduit Funding/Administration
 Telecopier: (212) 797-7973

			
	 	 	 	 	 Payment Instructions:

			
	 	 	 	 	 Fed ABA: 026-003-780
 Fed Bank: Deutsche Bank, NY
 Acct. #: 10-463646-0008
 Acct. Name: Gemini Securitization Corp., LLC
 Attention: Siegfried Rader Ph: 212-474-7737
 Ref: UPFC

  
 [Signature page to
Receivables Financing Agreement] 
  

											
	 Type of Lender:
 Committed Lender
	 	 	 	 DEUTSCHE BANK AG, NEW YORK BRANCH

				
	 Commitment: $200,000,000
	 	 	 	By:	 	 /s/ Eric Shea

	 	 	 	 	 	 	 Name:
	 	 Eric Shea

	 	 	 	 	 	 	 Title:
	 	 Director

				
	 	 	 	 	 By:
	 	 /s/ Stanley Chao

	 	 	 	 	 	 	 Name:
	 	 Stanley Chao

	 	 	 	 	 	 	 Title:
	 	 Vice President

			
	 	 	 	 	 Address for Notices:

			
	 	 	 	 	 c/o Deutsche Bank AG, New York Branch
 60
Wall Street
 New York, New York 10005
 Attention: Conduit
Funding/Administration
 Telecopier: (212) 797-7973

			
	 	 	 	 	 Payment Instructions:

			
	 	 	 	 	 Fed ABA: 021-000-018
 Fed Bank: The Bank of
New York
 Acct. Name: DBO
 Account #: GLA-111569
 Attention: Nicole Lashley
 Ref: UPFC

  
 [Signature page to
Receivables Financing Agreement] 
  

											
	 	 	 	 	 DEUTSCHE BANK AG, NEW YORK BRANCH, as Agent

				
	 	 	 	 	By:	 	 /s/ Eric Shea

	 	 	 	 	 	 	 Name:
	 	 Eric Shea

	 	 	 	 	 	 	 Title:
	 	 Director

				
	 	 	 	 	 By:
	 	 /s/ Stanley Chao

	 	 	 	 	 	 	 Name:
	 	 Stanley Chao

	 	 	 	 	 	 	 Title:
	 	 Vice President

			
	 	 	 	 	 Address for Notices:

			
	 	 	 	 	 c/o Deutsche Bank AG, New York Branch
 60
Wall Street
 New York, New York 10005
 Attention: Conduit
Funding/Administration
 Telecopier: (212) 797-7973

			
	 	 	 	 	 Payment Instructions:

			
	 	 	 	 	 Fed ABA: 021-000-018
 Fed Bank: The Bank of
New York
 Acct. Name: DBO
 Account #: GLA-111569
 Attention: Nicole Lashley
 Ref: UPFC

  
 [Signature page to
Receivables Financing Agreement]Sales and Servicing Agreement

 EXHIBIT 10.122 
  
 EXECUTION COPY 
  

  
 SALE AND SERVICING AGREEMENT 
  
 among 
  
 UNITED AUTO CREDIT CORPORATION 
  
 as Seller and Servicer, 
  
 UPFC FUNDING CORP. 
  
 as Purchaser 
  
 and 
  
 DEUTSCHE BANK TRUST COMPANY AMERICAS, 

 
 as Custodian 
  
 Dated as of September 1, 2004 
  

  
 SCHEDULE A 
  

 2 

  
 TABLE OF CONTENTS

  

					
	 	  	 	  	Page (s)

	ARTICLE I DEFINITIONS	  	1
	 Section 1.01
	  	Definitions	  	1
	 Section 1.02
	  	Usage of Terms	  	8
	 Section 1.03
	  	Section References	  	8
	 Section 1.04
	  	Calculations	  	8
	 Section 1.05
	  	Accounting Terms	  	9
	 Section 1.06
	  	Effect of Receivables Financing Agreement	  	9
	ARTICLE II CONVEYANCE OF CONTRACTS	  	9
	 Section 2.01
	  	Conveyance of Contracts	  	9
	 Section 2.02
	  	Closing Date	  	11
	ARTICLE III THE CONTRACTS	  	11
	 Section 3.01
	  	Representations and Warranties of the Seller	  	11
	 Section 3.02
	  	Purchase of Certain Contracts	  	18
	 Section 3.03
	  	Custody of Contract Files	  	19
	 Section 3.04
	  	Rights and Duties of Custodian	  	21
	 Section 3.05
	  	Indemnification of Custodian	  	22
	 ARTICLE IV ADMINISTRATION AND SERVICING OF CONTRACTS
	  	22
	 Section 4.01
	  	Duties of Servicer	  	22
	 Section 4.02
	  	Collection of Contract Payments	  	25
	 Section 4.03
	  	Realization Upon Delinquent Contracts and Liquidated Contracts	  	25
	 Section 4.04
	  	Insurance	  	26
	 Section 4.05
	  	Maintenance of Security Interests in Financed Vehicles	  	26
	 Section 4.06
	  	Covenants, Representations and Warranties of Servicer and Seller	  	26
	 Section 4.07
	  	Repurchase of Contracts Upon Breach of Covenant	  	29
	 Section 4.08
	  	Servicing Compensation	  	29
	 Section 4.09
	  	Reporting by the Servicer	  	29
	 Section 4.10
	  	Indemnification; Third Party Claims	  	30
	 Section 4.11
	  	Applicable Laws, Etc.	  	31
	 Section 4.12
	  	Nonpetition Covenant	  	31
	ARTICLE V DISTRIBUTIONS	  	31
	 Section 5.01
	  	Collections; Net Deposits	  	31
	 Section 5.02
	  	Application of Collections	  	31
	 Section 5.03
	  	Repurchase Amounts	  	31
	 Section 5.04
	  	Distribution to Purchaser	  	32
	ARTICLE VI THE SELLER	  	32
	 Section 6.01
	  	Corporate Existence	  	32
	 Section 6.02
	  	Liability of Seller; Indemnities	  	32
	 Section 6.03
	  	Merger or Consolidation of, or Assumption of the Obligations of, Seller; Certain Limitations	  	33
	 Section 6.04
	  	Limitation on Liability of Seller and Others	  	33
	 Section 6.05
	  	Seller Not to Resign	  	33
	ARTICLE VII THE SERVICER	  	33
	 Section 7.01
	  	Liability of Servicer; Indemnities	  	33
	 Section 7.02
	  	Corporate Existence; Status as Servicer; Merger	  	34

  

 i 

					
	 Section 7.03
	  	Performance of Obligations	  	35
	 Section 7.04
	  	Servicer Not to Resign; Assignment	  	35
	 Section 7.05
	  	Limitation on Liability of Servicer and Others	  	36
	ARTICLE VIII DEFAULT	  	36
	 Section 8.01
	  	Servicer Default	  	36
	 Section 8.02
	  	Purchaser to Act; Appointment of Successor	  	38
	 ARTICLE IX TERMINATION
	  	38
	 ARTICLE X MISCELLANEOUS
	  	38
	 Section 10.01
	  	Amendment	  	39
	 Section 10.02
	  	Protection of Title to Contracts and Proceeds	  	39
	 Section 10.03
	  	Governing Law	  	40
	 Section 10.04
	  	Notices	  	40
	 Section 10.05
	  	Severability of Provisions	  	41
	 Section 10.06
	  	Assignment	  	41
	 Section 10.07
	  	Counterparts	  	41
	 Section 10.08
	  	Headings	  	41
	 Section 10.09
	  	Assignment by Purchaser	  	41
	SCHEDULE OF CONTRACTS	  	SA-1
	FORM OF SALE AND ASSIGNMENT	  	SB-1
	LOCATION OF CONTRACT FILES	  	SC-1
	TERMS AND CONDITIONS OF CENTERONE AS SUCCESSOR SERVICER	  	SD-1
	FORM OF CUSTODIAN CERTIFICATION	  	EA-1

  

 ii 

 This SALE AND SERVICING AGREEMENT, dated as of September 1, 2004, is by and among United Auto Credit
Corporation (the “Seller and Servicer”), Deutsche Bank Trust Company Americas (the “Custodian”) and UPFC Funding Corp. (the “Purchaser”). 
  
 WHEREAS, the Purchaser desires to purchase from the Seller from time to time, portfolios of receivables arising in
connection with automobile retail installment sales contracts and installment loans (collectively, the “Contracts”) primarily originated by motor vehicle dealers and purchased by Seller; 
  
 WHEREAS, the Seller is willing to sell the Contracts to the Purchaser
pursuant to the terms hereof; and 
  
 WHEREAS, the Servicer is
willing to service the Contracts pursuant to the terms hereof; 
  
 WHEREAS, the Custodian is willing to hold the Contracts pursuant to the terms hereof; 
  
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties hereto agree as follows: 
  

ARTICLE I 
  
 DEFINITIONS 
 Section 1.01 Definitions. 
  
 Whenever used in this Agreement, the following words and phrases, unless the
context otherwise requires, shall have the following meanings or, if not defined herein, shall have the meanings assigned to such terms in the Receivables Financing Agreement (as defined below): 
  
 “Affiliate” of any specified Person means
any other Person controlling or controlled by or under common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and
policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” or “controlled” have meanings correlative to the foregoing. 
  
 “APR” of a Contract means annual percentage
rate and is the annual rate of finance charges specified in such Contract. 
  
 “Assignments” means, collectively, the original instrument of assignment of a Contract and all other documents securing such Contract made by the Seller to the Purchaser (or in the case of any
Contract acquired by the Seller from a Dealer, from such Dealer to the Seller and from the Seller to the Purchaser). 
  

 1 

 “Business Day” means any day that is not a Saturday, Sunday or other day
on which banking institutions in Los Angeles, California, or New York, New York are authorized or obligated by law, executive order or government decree to remain closed. 
  
 “Calculation Day” means the last day of each calendar month. 
  
 “Closing Date” means, unless the context
otherwise requires, the Initial Closing Date and each Subsequent Closing Date. 
  
 “Collection Account” means the account established and maintained as such pursuant to Section 9.1(a) of the Receivables
Financing Agreement. 
  
 “Collection
Period” means, with respect to any Servicer Report Date, the period commencing on the first day of the month preceding the month in which such Servicer Report Date occurs (or from, but excluding, the initial Cut-Off Date in the case of the
first Servicer Report Date) through the last day of such month. 
  
 “Contract” means each retail installment sales contract and security agreement or installment loan agreement and security agreement which has been executed by an Obligor and pursuant to which such
Obligor purchased, financed or pledged the Financed Vehicle described therein, agreed to pay the deferred purchase price (i.e., the purchase price net of any down payment) or amount borrowed, together with interest, as therein provided in
connection with such purchase or loan, granted a security interest in such Financed Vehicle, and undertook to perform certain other obligations as specified in such Contract and which has been conveyed to the Purchaser pursuant to this Agreement.

  
 “Contract Files” has the
meaning set forth in Section 3.03. 
  
 “Contract Number” means, with respect to any Contract transferred to the Purchaser, the number assigned to such Contract by the Servicer, which number is set forth in the related Schedule of Contracts. 
  
 “Contract Rate” means, the rate of interest
reflected on a Contract. 
  
 “Credit and
Collection Policy” means credit and collection policies and practices of the Seller and Servicer, as in effect from time to time or, if there should be a successor Servicer, of the successor Servicer only. The Seller and Servicer has
delivered a copy thereof, as in effect on the date hereof, to the Purchaser and the Lenders. 
  
 “Custodian” means Deutsche Bank Trust Company Americas, in its capacity as the Custodian of the Contracts under this
Agreement, and each successor thereto (in the same capacity). 
  
 “Cut-Off Date” means, with respect to (i) the Initial Closing Date, September 17, 2004 and (ii) each Subsequent Closing Date, the third Business Day immediately preceding such Subsequent Closing Date.

  

 2 

 “Dealer” means the seller of a Financed Vehicle, which seller originated
and assigned the related Contract. 
  
 “Dealer Agreement” means an agreement between the Seller and a Dealer relating to the assignment of Contracts to the Seller and all documents and instruments relating thereto, as the same may from time to time be amended,
supplemented or otherwise modified and in effect. 
  
 “Default” means any event that with the giving of notice, the lapse of time or both would become a Servicer Default. 
  
 “Delinquent Contract” means a Contract (other than a Liquidated Contract) with respect to which at least 5% of a
scheduled payment is more than 30 days past due. 
  
 “Distribution Date Statement” shall have the meaning specified in Section 4.09(a). 
  
 “Due Date” means, with respect to any Contract, the date upon which an installment of Monthly P&I is due. 

 
 “Financed Vehicle” means, as to any
Contract, an automobile or light-duty truck, together with all accessions thereto, securing the related Obligor’s indebtedness under such Contract. 
  
 “Full Prepayment” means any of the following: (i) payment to the Servicer of 100% of the outstanding principal balance of
a Contract, exclusive of any Contract referred to in clause (ii), (iii) or (iv) of the definition of the term “Liquidated Contract,” together with all accrued and unpaid interest thereon to the date of such payment, or (ii) payment by the
Seller or the Servicer, as the case may be, of the purchase price of a Contract in connection with the purchase of a Contract pursuant to Section 3.02 or 4.07. 
  

“Initial Closing Date” means, September 23, 2004. 
  
 “Insolvency Event” means, with respect to a specified Person, (i) the entry of a decree or
order for relief by a court or regulatory authority having jurisdiction in respect of such Person in an involuntary case under the federal bankruptcy laws, as now or hereafter in effect, or any other present or future, federal or State, bankruptcy,
insolvency or similar law, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator or other similar official for such Person or for any substantial part of its property, or ordering the winding-up or liquidation of such
Person’s affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days, (ii) the commencement of an involuntary case under the federal bankruptcy laws, as now or hereinafter in effect, or
any other present or future federal or state bankruptcy, insolvency or similar law and such case is not dismissed within 60 days, (iii) the commencement by such Person of a voluntary case under the federal bankruptcy laws, as now or hereinafter in
effect, or any other present or future federal or state, bankruptcy, insolvency or similar law, or (iv) the consent by such Person to the 

  

 3 

 
appointment of a conservator or receiver or liquidator in any insolvency, readjustment or debt, marshalling of assets and liabilities or similar proceedings
of or relating to such Person or of or relating to all or substantially all of its property, or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator or receiver or
liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against such Person, or such Person shall admit in writing
its inability to pay its debts generally as they become due, file a petition to take advantage of any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend payment of its
obligations or the taking of corporate action by such Person in furtherance of any the foregoing. 
  
 “Insurance Policy” means, with respect to a Financed Vehicle, the policy of comprehensive and collision insurance
maintained by an Obligor as to a Financed Vehicle. 
  
 “Insurance Proceeds” means proceeds paid pursuant to any Insurance Policy and amounts (exclusive of rebated premiums) paid by any insurer under any other insurance policy related to a Financed Vehicle, a Contract or an
Obligor. 
  
 “Intercreditor Agreement”
means the Post Office Box Access Agreement dated as of September 23, 2004 (together with all amendments and other modifications, if any, from time to time thereafter made thereto), by and among the Administrative/Collateral Agent, Deutsche Bank
Trust Company Americas, as Trustee and Trust Collateral Agent with respect to UPFC Auto Receivables Trust 2004-A and any trustee of any asset securitization transaction entered into after the Closing Date by the Purchaser, the Seller or any
Affiliate of the Seller, of any sort secured, directly or indirectly, by any Contract. 
  
 “Lien” means a security interest, charge, pledge, equity or encumbrance of any kind, other than tax liens,
mechanics’ liens and any liens that attach to the respective Contract by operation of law as a result of any act or omission by the related Obligor. 
  
 “Liquidated Contract” means a Contract which (i) has been the subject of a Full Prepayment; (ii) was a Delinquent
Contract and with respect to which the related Financed Vehicle was repossessed and, after any cure period required by law has expired, the Servicer has charged-off any losses prior to the end of the four-month period referred to in clause (iv);
(iii) has been paid in full on or after its Maturity Date; (iv) has become delinquent as to all or part of four or more payments of Monthly P&I; or (v) as to which the Obligor became the subject of a bankruptcy proceeding commenced after the
execution of the Contract. 
  
 “Liquidation Expenses” means reasonable out-of-pocket expenses (and, if UACC is the Servicer, not to exceed Liquidation Proceeds), other than any overhead expenses, incurred by the Servicer in connection with the
realization of the full amounts due under any Contract (including the attempted liquidation of a Contract which is brought current 

  

 4 

 
and is no longer in default during such attempted liquidation) and the sale of any property acquired in respect thereof which are not recoverable under any
Insurance Policy. 
  
 “Liquidation
Proceeds” means amounts received by the Servicer (before reimbursement for Liquidation Expenses) in connection with the realization of the amounts due and to become due under any Delinquent Contract or Liquidated Contract and the sale of
any property acquired in respect thereof. 
  
 “Maturity Date” means, with respect to any Contract, the date on which the last scheduled payment of such Contract shall be due and payable (after giving effect to all Prepayments received prior to the date of
determination) as such date may be extended pursuant to Section 4.02. 
  
 “Monthly P&I” means, with respect to any Contract, the amount of each monthly installment of principal and interest payable to the Obligee of such Contract in accordance with the terms thereof,
exclusive of any charges which represent late payment charges or extension fees. 
  
 “Net Collections” means (i) the sum of all amounts collected on or in respect of the Contracts, including Monthly P&I
(whether received in whole or in part, whether related to a current, future or prior Due Date, whether paid voluntarily by an Obligor or received in connection with the realization of the amounts due and to become due under any Liquidated Contract
or upon the sale of any property acquired in respect thereof), all partial Prepayments, all Full Prepayments, Net Liquidation Proceeds, Net Insurance Proceeds, and the Repurchase Amount for Repurchased Contracts but excluding any amounts collected
that the Servicer is entitled to retain. 
  
 “Net Insurance Proceeds” means, with respect to any Contract, Insurance Proceeds net of any such amount applied to the repair of the related Financed Vehicle, released to the related Obligor in accordance with the normal
servicing procedures of the Servicer or representing expenses incurred by the Servicer and recoverable hereunder. 
  
 “Net Liquidation Proceeds” means the amount derived by subtracting from the Liquidation Proceeds of a Contract the
related Liquidation Expenses. 
  
 “Obligee” means the Person to whom an Obligor is indebted under a Contract. 
  
 “Obligor” on a Contract means the purchaser or co-purchasers of the Financed Vehicle and any other Person who owes
payments under the Contract. 
  
 “Officers’ Certificate” means a certificate signed by the Chairman, the President or a Vice President, and by the Treasurer, an Assistant Treasurer, the Controller, an Assistant Controller, the Secretary or an
Assistant Secretary of any Person delivering such certificate and delivered to the Person to whom such certificate is required to be delivered. In the case of an Officers’ Certificate of the Servicer, at least one of the signing officers must
be a Servicing Officer. Unless otherwise specified, any reference herein to an Officers’ Certificate shall be to an Officers’ Certificate of the Servicer. 
  

 5 

 “Opinion of Counsel” means a written opinion of counsel (who may be
counsel to the Seller or the Servicer) acceptable to the Purchaser and the Required Lenders. 
  
 “Outstanding” means, with respect to a Contract and as of time of reference thereto, a Contract that has not reached its
Maturity Date, has not been fully prepaid, has not become a Liquidated Contract and has not been repurchased pursuant to Section 3.02 or 4.07. 
  
 “Permitted Lien” means, with respect to any Financed Vehicle, (i) any Lien for unpaid taxes or unpaid storage or repair
charges, (ii) mechanics’ Liens and (iii) any Lien that attaches by operation of law and which may arise after the applicable Closing Date in accordance with the UCC. 
  
 “Person” means a legal person, including any individual, corporation, estate, partnership,
joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. 
  
 “Portfolio Delinquency Ratio” has the meaning assigned to it in the Receivables Financing Agreement. 
  
 “Portfolio Monthly Delinquency Ratio” has
the meaning assigned to it in the Receivables Financing Agreement. 
  
 “Portfolio Monthly Loss Ratio” has the meaning assigned to it in the Receivables Financing Agreement. 
  
 “Portfolio Loss Ratio” has the meaning assigned to it in the Receivables Financing Agreement. 
  
 “Prepayment” means, with respect to any
Contract, payment (i) to the Servicer of an amount of principal in excess of the amount then due or (ii) by the Seller or the Servicer of the Repurchase Amount in connection with the purchase of such Contract pursuant to Section 3.02 or 4.07, as the
case may be. 
  
 “Principal
Balance” means, with respect to a Contract, the actual principal balance under the terms thereof. 
  
 “Promissory Note” means the note or notes, if more than one, executed by the Purchaser in favor of the Seller as part of
the purchase price paid by Purchaser for Contracts subject to this Agreement. 
  
 “Purchase Price” means, as of any date, the outstanding Principal Balance of and accrued interest on a Contract as of that date. 
  
 “Receivables Financing Agreement” means the Receivables Financing Agreement dated as of
September 23, 2004 (together with all amendments and other modifications, if any, from time to time thereafter made thereto), among the Purchaser, the Servicer, 

  

 6 

 
United PanAm Financial Corp., Deutsche Bank AG, New York Branch, the Backup Servicer, the Custodian and the Lenders and the Agents parties thereto.

  
 “Registrar of Titles” means
the agency, department or office having the responsibility for maintaining records of titles to motor vehicles and issuing documents evidencing such titles in the jurisdiction in which a particular Financed Vehicle is registered. 
  
 “Repurchase Amount” means, with respect to
any Contract, the amount, as of the date of repurchase, required to prepay in full the principal of and accrued interest on such Contract to the last Due Date in the Collection Period in which such repurchase occurs. 
  
 “Repurchased Contract” means a Contract
repurchased as of the related Servicer Report Date by the Servicer pursuant to Section 4.07 or by the Seller pursuant to Section 3.02. 
  
 “Rule of 78’s Contract” means a Contract as to which payments thereunder are applied on the basis of the Rule of
78’s. 
  
 “Sale and
Assignment” means a sale and assignment delivered in connection with a sale of Contracts, substantially in the form of Schedule B. 
  
 “Schedule of Contracts” means the list or lists of Contracts attached as the Schedule of Contracts to each Sale and
Assignment executed in connection with this Agreement, which Schedule of Contracts are incorporated by reference as Schedule A to this Agreement. Each such Schedule of Contracts shall identify the Contracts which are being transferred to the
Purchaser and shall set forth such information with respect to each such Contract as the Purchaser or the Required Lenders may from time to time require. 
  
 “Seller” means United Auto Credit Corporation, in its capacity as the Seller of the Contracts under this Agreement, and
each successor thereto (in the same capacity) pursuant to Section 6.03. 
  
 “Servicer” means United Auto Credit Corporation in its capacity as the Servicer of the Contracts under Section 4.01, and, in each case upon succession in accordance herewith, each successor Servicer
in the same capacity pursuant to Section 4.01 and each successor Servicer pursuant to Section 8.02. 
  
 “Servicer Default” means an event specified in Section 8.01. 
  
 “Servicer Report Date” means, with respect
to any Distribution Date, the fifth Business Day prior to such Distribution Date. 
  
 “Servicing Fee” has the meaning assigned to it in the Receivables Financing Agreement. 
  

 7 

 “Servicing Officer” means any officer of the Servicer involved in, or
responsible for, the administration and servicing of the Contracts whose name appears on a list of servicing officers furnished to the Purchaser and the Administrative/Collateral Agent by the Servicer pursuant to Section 4.01. 
  
 “Simple Interest Contract” means a Contract
as to which interest is calculated each day on the basis of the actual principal balance of such Contract on such day. 
  
 “Subsequent Closing Date” means each Closing Date other than the Initial Closing Date. 
  
 “Title Document” means, with respect to any
Financed Vehicle, the certificate of title for, or other evidence of ownership of, such Financed Vehicle issued by the Registrar of Titles in the jurisdiction in which such Financed Vehicle is registered. 
  
 “UCC” means the Uniform Commercial Code as
in effect in the applicable jurisdiction. 
  
 “United States” means the United States of America. 
  
 “Vice President” of any Person means any vice president of such Person, whether or not designated by a number or words before or after the title “Vice President,” who is a duly elected
officer of such Person. 
  
 Section 1.02 Usage of Terms.

  
 With respect to all terms in this Agreement, the singular
includes the plural and the plural the singular; words importing any gender include the other genders; references to “writing” include printing, typing, lithography and other means of reproducing words in a visible form; references to
agreements and other contractual instruments include all amendments, modifications and supplements thereto or any changes therein entered into in accordance with their respective terms and not prohibited by this Agreement; references to Persons
include their permitted successors and assigns; and the term “including” means “including without limitation.” 
  
 Section 1.03 Section References. 
  
 All section references, unless otherwise indicated, shall be to Sections in this Agreement. 
  
 Section 1.04 Calculations. 
  

Except as otherwise provided herein, all interest rate and basis point calculations hereunder will be made on the basis of a 360-day year and twelve
30-day months and will be carried out to at least three decimal places. Collections of interest on Rule of 78’s Contracts shall be calculated as if such Contracts were actuarial contracts, and collections of interest on Simple Interest
Contracts will be calculated in accordance with the terms thereof. 
  

 8 

 Section 1.05 Accounting Terms. 
  
 All accounting terms used but not specifically defined herein shall be construed in accordance with generally accepted
accounting principles in the United States. 
  
 Section 1.06
Effect of Receivables Financing Agreement. 
  
 Notwithstanding the provisions contained herein: 
  
 (a) The terms and provisions of the Receivables Financing Agreement shall govern the rights and obligations of the Purchaser, the Seller and Servicer and shall supercede the terms and provisions of this Agreement to
the extent of any conflict between the terms and provisions of the Receivables Financing Agreement and this Agreement, as though the terms and provisions of the Receivables Financing Agreement were set forth herein in full. 
  
 ARTICLE II 
  
 CONVEYANCE OF CONTRACTS 
  
 Section 2.01 Conveyance of Contracts. 
  
 (a) On the Initial Closing Date and each Subsequent Closing Date, in consideration of the Purchaser’s delivery to or upon the order
of the Seller of the aggregate Purchase Price of all Contracts being transferred on that date as set forth in the related Sale and Assignment executed in connection with this Agreement, the Seller hereby sells, grants, transfers, assigns and
otherwise conveys to the Purchaser, without recourse (subject to the obligations herein), all of the right, title and interest of the Seller in, to and under: (i) each of the Contracts listed in the Schedule of Contracts attached to or delivered
with the Sale and Assignment; (ii) all payments received after the related Cut-Off Date (including any interest that has accrued to that Cut-Off Date whether received in whole or in part, whether related to a current, future or prior Due Date,
whether paid voluntarily by an Obligor or received in connection with the realization of the amounts due and to become due under any Delinquent Contract or upon the sale of any property acquired in respect thereof); (iii) all Net Liquidation
Proceeds and Net Insurance Proceeds with respect to any Financed Vehicle to which a Contract relates received after the related Cut-Off Date and all other proceeds received on or in respect of such Contracts (other than payments received on or prior
to the applicable Cut-Off Date); (iv) any and all security interests of the Seller in the Financed Vehicles, and the right to receive proceeds from claims on certain insurance policies covering the Financed Vehicles or the related Obligors; (v) the
Contract Files relating to the Contracts; (vi) all proceeds with respect to such Contracts from recourse to Dealers thereon pursuant to Dealer Agreements received on or after the related Cut-Off Date; (vii) all property, guarantees and other
collateral securing any such Contracts; and (viii) all proceeds in any way delivered with respect to the foregoing, all rights to payments with respect to the foregoing and all rights to enforce the foregoing. The sale and servicing of all Contracts
purchased in connection with this Agreement shall be subject to the terms and conditions of this Agreement, except as otherwise set forth in the related Sale and 

  

 9 

 
Assignment as to such Contracts. Unless the context otherwise requires, all references herein to Contracts shall be to all Contracts sold by Seller to
Purchaser, whether initially or subsequently. Although the parties intend, and have expressly so stated, that the conveyance of Seller’s right, title and interest in, to and under the Contracts pursuant to this Agreement shall constitute a
purchase and sale and not a financing, in order to protect the Purchaser in the event that, despite such express intention that the transaction be treated as a sale, such conveyance is instead deemed to be a financing, the Seller hereby grants to
the Purchaser a first priority security interest in all of the Seller’s right, title and interest in, to and under the Contracts, including all proceeds thereof to secure the repayment of such financing, and agrees this Agreement shall
constitute a security agreement under applicable law. 
  
 (b) The Seller has filed or caused to be filed UCC-1 financing statements executed by the Seller as debtor, naming the Purchaser as secured party/purchaser and describing the Contracts and all after acquired Contracts as collateral with the
office of the Secretary of State of the State of California. From time to time, the Servicer (or, if UACC is no longer the Servicer, the Administrative/Collateral Agent) shall cause to be taken such actions as are necessary to continue the
perfection of the interests of the Purchaser in the Contracts and to continue the first priority security interest of the Purchaser in the Financed Vehicles and their proceeds (other than, as to such priority, any statutory lien arising by operation
of law after the Closing Date which is prior to such interest), including, without limitation, the filing of financing statements, amendments thereto or continuation statements and the making of notations on records or documents of title.

  
 (c) If any change in the name, identity or
corporate structure of the Seller or the relocation of its chief executive office would make any financing or continuation statement or notice of lien filed under this Agreement seriously misleading within the meaning of applicable provisions of the
UCC or any title statute, so long as UACC is the Servicer, the Servicer (or, if UACC is no longer the Servicer, the Administrative/Collateral Agent), within the time period required by applicable law, shall file such financing statements or
amendments as may be required to preserve and protect the interests of the Purchaser in the Contracts, Financed Vehicles and the proceeds thereof. Promptly thereafter, the Seller shall deliver to the Purchaser an Opinion of Counsel stating that, in
the opinion of such counsel, all financing statements or amendments necessary fully to preserve and protect the interests of the Purchaser in the Contracts, Financed Vehicles and the proceeds thereof have been filed, and reciting the details of such
filings. 
  
 (d) During the term of this
Agreement, the Seller shall maintain its chief executive office in one of the states of the United States. 
  
 (e) The Servicer (so long as UACC is the Servicer) shall pay all reasonable costs and disbursements in connection with the perfection and
the maintenance of perfection, as against all third parties, of the Purchaser’s right, title and interest in and to the Contracts and in connection with maintaining the first priority security interest in the Financed Vehicles and the proceeds
thereof. Any successor Servicer shall be entitled to reimbursement of any such costs and disbursements. 
  

 10 

 Section 2.02 Closing Date. 
  
 The sale, transfer and assignment of the Contracts, the Financed Vehicles and the other property and rights related thereto
described in Section 2.01 on any Closing Date shall be subject to the satisfaction of the following condition as of the related Closing Date: 
  
 (a) The Seller shall have delivered to the Purchaser a duly executed Sale and Assignment. 
  
 (b) Each of the Seller and the Servicer shall certify to the
Purchaser that, as of the Closing Date, it was not insolvent nor will it be made insolvent by such transfer nor is it aware of any such pending insolvency. 
  
 (c) The purchase of the related Contracts on such Closing Date will not violate any law, statute, rule or regulation applicable to the
Purchaser. 
  
 (d) The representations and
warranties of each of the Seller and the Servicer contained in this Agreement are true and correct on and as of the Closing Date as though made on and as of such date. 
  
 (e) No event has occurred and is continuing, or would result from the transactions contemplated by this
Agreement and the related Sale and Assignment, that constitutes a Default or a Servicer Default. 
  
 (f) The Purchaser shall have received an Officers’ Certificate from the Seller dated as of the related Closing Date to the effect
that the Contracts and Contract Files to be purchased on such Closing Date have been transferred to the Custodian. 
  
 (g) the Seller shall have taken any action required to maintain the first perfected ownership interest of the Purchaser in the Contracts
and the first perfected security interest of the Administrative/Collateral Agent in the Borrower Collateral. 
  
 (h) no selection procedures believed by the Seller to be adverse to the interests of the Purchaser or the Lenders shall have been utilized
in selecting the Contracts. 
  
 (i) the Seller
shall have, at its own expense, indicated in its books and records that the Contracts have been sold to the Purchaser pursuant to this Agreement. 
  
 ARTICLE III 
  
 THE CONTRACTS 
  
 Section 3.01 Representations and Warranties of the Seller. 
  
 As of the Initial Closing Date and on each Subsequent Closing Date, the Seller makes the following representations and warranties on which the Purchaser is deemed to have relied in acquiring the Contracts. Such
representations and warranties speak as of the effective date of 

  

 11 

 
this Agreement, the date of execution and delivery of each Sale and Assignment and as of the applicable Closing Date, as the case may be, but shall survive
the sale, transfer and assignment of the Contracts to the Purchaser. Notwithstanding the above, in connection with any Advance under the Receivables Financing Agreement subsequent to the Initial Closing Date, the Seller agrees to be bound by and
shall reaffirm, as of the effective date of such Advance, each of the representations and warranties in this Section 3.01(b) with respect to the Contracts to secure such Advance. 
  
 (a) As to the Seller: 
  
 (i) Organization and Good Standing. 
  
 The Seller is duly organized and validly existing as a corporation in good standing under the laws of the
State of California, with power and authority to own its properties and to conduct its business, and has the corporate power, authority and legal right to acquire and own the Contracts. 
  
 (ii) Due Qualification. 
  
 The Seller is duly qualified to do business as a foreign corporation in good standing, and shall have
obtained all necessary licenses and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications. 
  
 (iii) Power and Authority. 
  
 The Seller has the corporate power and authority to execute and deliver this Agreement and to carry out its
terms; the Seller has full power and authority to sell and assign the property to be sold and assigned to and deposited with the Purchaser, and has duly authorized such sale and assignment to the Purchaser by all necessary corporate action; and the
execution, delivery and performance of this Agreement has been duly authorized by the Seller by all necessary corporate action. 
  
 (iv) Binding Obligation. 
  
 This Agreement constitutes (A) a valid sale, transfer and assignment of the Contracts, enforceable against creditors of and purchasers
from the Seller and (B) a legal, valid and binding obligation of the Seller enforceable in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the
enforcement of creditors’ rights in general and by general principles of equity, regardless of whether such enforceability shall be considered in a proceeding in equity or at law. 
  
 (v) No Violation. 
  
 The consummation of the transactions contemplated by this Agreement and the fulfillment of the terms hereof
do not conflict with, result in any breach of any of the 

  

 12 

 
terms and provisions of, or constitute (with or without notice or lapse of time) a default under, the articles of incorporation or bylaws of the Seller, or
any indenture, agreement or other instrument to which the Seller is a party or by which it is bound; nor result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement or other
instrument; nor violate any law or, to the best of the Seller’s knowledge, any order, rule or regulation applicable to the Seller of any court or of any federal or state regulatory body, administrative agency or other governmental
instrumentality having jurisdiction over the Seller or its properties. 
  
 (vi) No Proceedings. 
  
 There are no proceedings or investigations pending, or to the Seller’s best knowledge, threatened, before any court, regulatory body, administrative agency or other governmental instrumentality having
jurisdiction over the Seller or its properties: (A) asserting the invalidity of this Agreement, (B) seeking to prevent the consummation of any of the transactions contemplated by this Agreement, or (C) seeking any determination or ruling that might
materially and adversely affect the performance by the Seller of its obligations under, or the validity or enforceability of, this Agreement. 
  
 (vii) Governmental Consents. 
  
 The Seller is not required to obtain any consent, license, approval or authorization, or registration or declaration with, any
governmental authority, bureau or agency in connection with the origination or acquisition of the Contracts, the sale of the Contracts, Financed Vehicles and other property being sold, transferred and assigned to the Purchaser under this Agreement
or the execution, delivery, performance, validity or enforceability of this Agreement, except such as have been obtained and are in full force and effect. 
  
 (viii) No Tax Liens. 
  
 The Seller is not aware of any judgment or tax lien filings against it. 
  
 (b) As to each Contract listed on a Schedule of Contracts, as the case may be, as of the related Closing
Date: 
  
 (i) Schedule of Contracts.

  
 As of the related Cut-Off Date, the
characteristics and all other information pertaining to the Contract set forth in the related Sale and Assignment and Schedule of Contracts was true and correct in all material respects and the calculation of the Principal Balance appearing in such
Schedule of Contracts for the Contract has been performed in accordance with this Agreement and are accurate. 
  

 13 

 (ii) Security Interests. 
  
 As of the related Closing Date, the Contract was secured by
a valid and enforceable first priority security interest in favor of the Seller in the related Financed Vehicle, and such security interest has been duly perfected and is prior to all other Liens upon and security interests in such Financed Vehicle
which exist or may thereafter arise or be created (except, as to priority, for any Permitted Lien arising after such Closing Date). 
  
 (iii) Title Documents. 
  
 If the related Financed Vehicle was originated in a state in which (A) notation of a security interest on the Title Document is required
or permitted to perfect such security interest, the Title Document for such Financed Vehicle shows, or if a new or replacement Title Document is being applied for with respect to such Financed Vehicle the Title Document will be received within 120
days of the related Closing Date and will show Seller named as the original secured party under the related Contract as the holder of a first priority security interest in such Financed Vehicle, and (B) the filing of a financing statement under the
UCC is required to perfect a security interest in motor vehicles, such filings or recordings have been duly made and show Seller named as the original secured party under the related Contract, and in either case, the Purchaser has the same rights as
such secured party has or would have (if such secured party were still the owner of the Contract) against all parties claiming an interest in such Financed Vehicle. With respect to each Contract for which the Title Document has not yet been returned
from the Registrar of Titles, Seller has received written evidence from the related Dealer that such Title Document showing Seller as first lienholder has been applied for. 
  
 (iv) Title to the Contracts. 
  
 Immediately prior to the related Closing Date, the Seller had good and indefeasible title to and was the
sole owner of each Contract to be transferred to the Purchaser pursuant to Section 2.01 free of Liens (except for Permitted Lien arising after such Closing Date) and rights of any Person and, upon transfer of such Contract to the Purchaser pursuant
to Section 2.01, the Purchaser will have good and indefeasible title to and will be the sole owner of such Contract free of Liens (except for Permitted Lien arising after such Closing Date) and rights of any Person. 
  
 (v) Current in Payment. 
  
 As of the related Closing Date, the Contract is not a
Delinquent Contract. 
  
 (vi) Tax Liens.

  
 As of the related Closing Date, there is no
lien against the Contract or the related Financed Vehicle for delinquent taxes. 
  

 14 

 (vii) Rescission, Offset, Etc. 
  
 As of the related Closing Date, there is no right of
rescission, offset, defense or counterclaim to the obligation of the Obligor to pay the unpaid principal or interest due under the Contract; the operation of the terms of the Contract or the exercise of any right thereunder will not render the
Contract unenforceable in whole or in part or subject to any right of rescission, offset, defense or counterclaim, and no such right of rescission, offset, defense or counterclaim has been asserted; and neither the Seller nor the Servicer has
knowledge that any such right of rescission, offset, defense or counterclaim has been asserted or threatened. 
  
 (viii) Mechanics’ Liens. 
  
 As of the related Closing Date, there are no liens or claims for work, labor, material or storage affecting the related Financed Vehicle
which are or may become a lien prior to or equal with the security interest granted by the Contract. 
  
 (ix) Compliance With Laws. 
  
 The Contract, and the sale of the Financed Vehicle sold thereunder, complied, at the time it was made, in all material respects with all
applicable state and federal laws (and regulations thereunder), including without limitation usury, equal credit opportunity, fair credit reporting, truth-in-lending or other similar laws, the Federal Trade Commission Act, and applicable state laws
regulating retail installment sales contracts and loans in general and motor vehicle retail installment contracts and loans in particular; and the consummation of the transactions herein contemplated, including, without limitation, the transfer and
assignment of the Contract and the related Financed Vehicle to the Purchaser and the receipt of interest by the Purchaser, will not violate any applicable state or federal law or cause any Contract to be unenforceable. 
  
 (x) Valid and Binding. 
  
 The Contract is the legal, valid and binding obligation of
the Obligor thereunder and is enforceable in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally; all parties to the Contract had
full legal capacity to execute and deliver the Contract and all other documents related thereto and to grant the security interest purported to be granted thereby; the terms of the Contract have not been waived, amended or modified in any respect,
except by instruments that are part of the Contract Files; and no such waiver, amendment or modification has caused the Contract to fail to meet all of the representations, warranties and conditions set forth with respect thereto. 
  
 (xi) Enforceability. 
  
 The Contract contains customary and enforceable provisions
such as to render the rights and remedies of the holder or assignee thereof adequate for the realization against the collateral of the benefits of the security, subject, as to enforceability, to bankruptcy, insolvency, reorganization or similar laws
affecting the enforcement of creditors’ rights generally. 
  

 15 

 (xii) No Default. 
  
 As of the related Closing Date, (A) there was no default, breach, violation or event permitting acceleration
existing under the Contract (except payment delinquencies permitted by clause (v) of this subsection), (B) no event which, with notice, the expiration of any grace or cure period, would constitute a default, breach, violation or event permitting
acceleration under the Contract and (C) neither the Seller nor the Servicer has waived any such default, breach, violation or event permitting acceleration except payment delinquencies permitted by clause (v) of this subsection. 
  
 (xiii) Insurance. 
  
 The Contract requires that the related Obligor obtain and
maintain in effect for the related Financed Vehicle until the Maturity Date of such Contract a comprehensive and collision insurance policy (i) in an amount at least equal to the lesser of (a) its actual cash value or (b) the principal amount due
from the Obligor under the related Contract, (ii) naming Seller as a loss payee and (iii) insuring against loss and damage due to fire, theft, transportation, collision and other risks generally covered by comprehensive and collision coverage.

  
 (xiv) Acquisition of Contract.

  
 The Contract was either acquired by Seller
from a Dealer pursuant to a Dealer Agreement or an agreement containing rights of recourse against the related Dealer similar to those in the Dealer Agreement with which it ordinarily does business or originated directly by Seller in the ordinary
course of its business. 
  
 (xv) Scheduled
Payments. 
  
 As of the Cut-Off Date,
scheduled payments under such Contract are applied in accordance with the Rule of 78’s method or the simple interest method and are due monthly in level payments through its Maturity Date sufficient to fully amortize the principal balance of
such Contract by its Maturity Date, assuming timely payment by Obligors on Simple Interest Contracts, except that the payment in the first or last month in the life of the Contract may be minimally different from the level payment. 
  
 (xvi) One Original. 
  
 There is only one original of such Contract and such
original, together with all other documents in the Contract Files, is being delivered to the Custodian pursuant to Section 3.03. The Contract constitutes “tangible chattel paper” as defined in the applicable UCC. Notwithstanding the
foregoing, all documents in the Contract Files other than the Contract may be maintained in electronic form. None of the documents in the Contract Files that constitute or evidence each Contract has any marks or notations indicating that it has been
pledged, assigned or otherwise conveyed to any Person other than the Purchaser. 
  

 16 

 (xvii) Identification. 
  
 The Servicer and Seller have clearly marked their electronic
records to indicate that the Contract has been transferred to and is owned by the Purchaser. 
  
 (xviii) Principal Balance. 
  
 At the Cut-Off Date the initial Principal Balance of such Contract was not greater than the sum of the purchase price of the related
vehicle, taxes, license fees and warranty costs. 
  
 (xix) Location of Contract Files. 
  
 The Contract Files are kept at one or more of the locations listed in Schedule C hereto. 
  
 (xx) No Government Entity Obligors. 
  
 The related Obligor shall not be a local, state or federal governmental entity. 
  
 (xxi) No Extensions. 
  
 The number of, or timing of, scheduled payments has not been
changed on any Contract on or before the Closing Date, except as reflected on the related Schedule of Contracts. 
  
 (xxii) Repossession. 
  
 On or prior to the Closing Date, the related Financed Vehicle has not been repossessed. 
  
 (xxiii) Prepayment of Contracts. 
  
 Any prepayment in full of the Contract by the related
Obligor will consist of the entire outstanding Principal Balance of such Contract together with all accrued and unpaid interest thereon at the related APR. 
  
 (xxiv) No Consent; No Bulk Transfer Law Violation. 
  
 The Contract does not require the related Obligor to consent to or receive notice of its transfer, sale or
assignment and the sale, transfer and assignment of such Contract, together with all Contracts being sold, transferred and assigned on the Closing Date, will not violate any applicable bulk transfer laws. 
  
 (xxv) Contract Characteristics. 
  
 As of the related Cut-Off Date, the Contract has an
outstanding Principal Balance of not less than $500 and not more than $30,000 and an APR of at least 17.0%. As of the 

  

 17 

 
date of its origination, the Contract had a term of not less than 12 months and not more than 60.5 months. 
  
 (xxvi) Origination. The Contract has been originated in
accordance with the Credit and Collection Policy as in effect on the date on which such Contract was originated (x) in the United States of America by a Dealer for the consumer or commercial sale of a Financed Vehicle in the ordinary course of such
Dealer’s business or (y) by the Seller in connection with the refinancing of a motor vehicle retail installment sale contract of the type described in subclause (x) above, shall have been fully and properly executed by the parties thereto,
shall have been purchased by the Seller from such Dealer under an existing Dealer Agreement with the Seller or under an agreement containing rights of recourse against the related Dealer similar to those in the form of Dealer Agreement under
which it ordinarily does business (unless such Contract was originated by the Seller in connection with a refinancing), and shall have been validly assigned by such Dealer to the Seller in accordance with its terms (unless such Contract was
originated by the Seller in connection with a refinancing). 
  
 (xxvii) Dollars. The Contract is an obligation denominated in United States Dollars. The Obligor on such Contract has provided as its most recent billing address an address located in the continental United States.

  
 (xxviii) Forced Placed Insurance. The
Contract is not subject to a forced placed insurance policy on the related Financed Vehicle. 
  
 (xxix) No Bankruptcies. The Obligor has not been the subject of a bankruptcy proceeding commenced after the execution of the Contract
except if such Obligor has received a discharge or dismissal of such proceeding under the US Bankruptcy Code. 
  
 The representations and warranties made in this Section with respect to the Contracts as of the Cut-Off Date shall also be true and
correct in every material respect for all Contracts being sold, transferred and assigned as of the related Closing Date. 
  
 Section 3.02 Purchase of Certain Contracts. 
  
 The representations and warranties of the Seller set forth in Section 3.01 with respect to each Contract shall survive delivery of the Contract Files to
the Custodian and shall continue until the termination of this Agreement. Upon discovery by the Seller, the Servicer or the Purchaser, as the case may be, that any of such representations and warranties was incorrect as of the time made or that any
of the documents in the Contract Files relating to any Contract has not been properly executed by the Obligor or contains a material defect or has not been received by the Servicer, the Seller, the Servicer or the Purchaser, as the case may be,
making such discovery shall give prompt notice to the others. If any such defect, incorrectness or omission materially and adversely affects the interest of the Purchaser, the Seller shall, on the Distribution Date after discovery thereof or receipt
of notice thereof, cure the defect or eliminate or otherwise cure the circumstances or condition in respect of which such representation or warranty was incorrect as of the time made. If the Seller is unable to do so, it shall repurchase such
Contract from the 

  

 18 

 
Purchaser on such Distribution Date for an amount equal to the related Repurchase Amount in the manner set forth in Section 5.03. Upon any such purchase, the
Purchaser shall execute and deliver such instruments of transfer or assignment, in each case without recourse, as shall be necessary to vest in the Seller any Contract purchased hereunder. The sole remedy of the Purchaser with respect to a breach of
the Seller’s representations and warranties pursuant to Section 3.01 shall be to require the Seller to repurchase Contracts pursuant to this Section; provided, however, that the Seller shall indemnify the Purchaser against all costs, expenses,
losses, damages, claims and liabilities, including reasonable fees and expenses of counsel, which may be asserted against or incurred by any of them as a result of third-party claims arising out of the events or facts giving rise to such breach. A
successor servicer shall have no obligations under this Section. 
  
 Section 3.03 Custody of Contract Files. 
  
 (a) CUSTODY. To assure uniform quality in servicing the Contracts and to reduce administrative costs, Purchaser, upon the execution and delivery of this Agreement, revocably appoints the Custodian, as agent, and the
Custodian accepts such appointment, to act as agent on behalf of the Administrative/Collateral Agent to maintain custody of the following documents or instruments, which are hereby constructively delivered to the Administrative/Collateral Agent with
respect to each Contract (with respect to each Contract, a “Contract File”): 
  
 (i) (A) copies of the original certificate of title, lien card, notice of security interest or application of title, as used in the
applicable jurisdiction and/or (B) if the security interest of the applicable Obligor is evidenced with respect to a Financed Vehicle under the Uniform Commercial Code of a state as notified to the Custodian by the Seller, UCC-1 financing statement
evidencing the applicable Obligor’s security interest; 
  
 (ii) the fully executed original counterpart of the (a) installment sale contract, or (b) note and the security agreement, as applicable relating to each Contract and, in the case of promissory notes, endorsements of
such notes in blank; 
  
 (iii) a copy of the
credit application of the Obligor; and 
  
 (iv)
such other documents that the Servicer causes to be delivered to the Custodian. 
  
 The Custodian makes no representations as to and shall not be responsible to verify (A) the validity, legality, enforceability, due
authorization, recordability, sufficiency, or genuineness of any of the documents contained in each Contract File or (B) the collectability, insurability, effectiveness, perfection, priority or suitability of any such Contract. 
  
 (b) SAFEKEEPING. The Custodian, shall hold the applicable
Contract Files as agent on behalf of the Administrative/Collateral Agent and maintain accurate and complete records and computer systems pertaining to each Contract in accordance with the terms 

  

 19 

 
hereunder. In performing its duties as Custodian hereunder, Custodian shall act with reasonable care, exercising the degree of skill, attention and care that
Custodian exercises with respect to contract files relating to other similar motor vehicle loans which are held by Custodian and that is consistent with industry standards. In accordance with its customary practice with respect to its custody files,
Custodian shall maintain the Contract Files in such a manner as shall enable the Purchaser and the Administrative/Collateral Agent to verify, if the Purchaser or the Administrative/Collateral Agent so elects, the accuracy of the record keeping of
Custodian. Custodian shall promptly report to the Purchaser and the Administrative/Collateral Agent any failure on its part to hold the Contract Files and maintain its records and computer systems as herein provided, and promptly take appropriate
action to remedy any such failure. Custodian hereby acknowledges receipt of the Contract File for each Contract listed on the Schedule of Contracts. Custodian shall further provide acknowledgements of receipts of additional Contract Files in the
form of Exhibit A as soon as practicable following each Subsequent Closing Date. Nothing herein shall be deemed to require the Servicer, Purchaser, the Administrative/Collateral Agent or the Lenders to verify the accuracy of the record keeping of
the Custodian. 
  
 (c) MAINTENANCE OF AND ACCESS
TO RECORDS. Custodian shall maintain each Contract File at the locations specified in Schedule C to this Agreement, or at such other offices of Custodian or its Affiliates within the United States (or, in the case of any successor Custodian, within
the state in which its principal place of business is located) as shall be specified to the Purchaser and the Administrative/Collateral Agent by 30 days’ prior written notice. Custodian shall make available to the Purchaser, the
Administrative/Collateral Agent and the Lenders and their respective agents or attorneys the Contract Files and the related records maintained by Custodian at such times as the Purchaser or the Lenders shall instruct for purposes of inspecting,
auditing or making copies of abstracts of the same, but only upon two (2) Business Days prior notice and during the normal business hours at the respective offices of Custodian. 
  
 (d) RELEASE OF DOCUMENTS. Upon written instructions from the Purchaser and the Administrative/Collateral
Agent, Custodian shall release any document in the Contract Files to the Purchaser and the Administrative/Collateral Agent at such place or places as the Purchaser and the Administrative/Collateral Agent may designate, as soon thereafter as is
practicable. Any document so released shall be handled by the Purchaser and the Administrative/Collateral Agent with due care and returned to Custodian for safekeeping as soon as the Purchaser and the Administrative/Collateral Agent or their
respective agents or designees, as the case may be, shall have no further need therefor. 
  
 (e) TITLE TO CONTRACTS. Custodian agrees that, in respect of any Contract File held by Custodian hereunder, Custodian shall not at any
time have or in any way attempt to assert any interest in such Contract File or the related Contract other than solely as Administrative/Collateral Agent for the purpose of collecting or enforcing the Contract File for the benefit of the Lenders.

  
 (f) INSTRUCTIONS; AUTHORITY TO ACT. Custodian
shall be deemed to have received proper instructions with respect to the Contract Files upon its receipt of written instructions signed by an Authorized Officer of the Purchaser and the Administrative/Collateral Agent. A certified copy of excerpts
of certain resolutions of the Board of Directors of the 

  

 20 

 
Purchaser and the Administrative/Collateral Agent shall constitute conclusive evidence of the authority of the Purchaser and the Administrative/Collateral
Agent to act and shall be considered in full force and effect until receipt by Custodian of written notice to the contrary given by the Purchaser and the Administrative/Collateral Agent. 
  
 (g) EFFECTIVE PERIOD AND TERMINATION. Custodian’s appointment as Custodian shall become effective as of
the date of delivery of the Contract Files (which shall be a date on or before the Closing Date) and shall continue in full force and effect until terminated pursuant to this Subsection (g). The Custodian hereunder may be terminated by the
Purchaser, upon the prior written consent of the Required Lenders. As soon as practicable after any termination of such appointment, Custodian shall deliver, or cause to be delivered, the Contract Files to the Administrative/Collateral Agent, or its
respective agent or designee at such place or places as the Administrative/Collateral Agent may reasonably designate. 
  
 (h) DELEGATION. Custodian may, at any time with notice to the Purchaser and the Lenders but without consent, delegate any or all of its
duties under this Agreement to any Affiliate; provided that no such delegation shall relieve Custodian of its responsibility with respect to such duties and Custodian shall remain obligated and liable to the Purchaser and the Lenders for its duties
hereunder as if Custodian alone were performing such duties. 
  
 Section 3.04 Rights and Duties of Custodian. 
  
 (a) The Custodian shall have no duties or responsibilities with respect to the contents of the Contract Files except as specifically set forth herein. 
  
 (b) The Custodian may conclusively rely upon, and shall be fully protected from all liability, loss, cost,
damage or expense in acting or omitting to act pursuant to any written notice, instrument, request, consent, certificate, document, letter, telegram, opinion, order resolution or other writing hereunder which it reasonably believes to be authentic
without being required to determine the authenticity of such document, the correctness of any fact stated therein, the propriety of the service thereof or the capacity, identity or authority of any party purporting to sign or deliver such document.

  
 (c) This Agreement expressly sets forth all
the duties and obligations of the Custodian with respect to any and all matters pertinent thereto. No implied duties or obligations of the Custodian shall be read into this Agreement. 
  
 (d) No provision of this Agreement shall require the Custodian to expend or risk its own funds or otherwise
incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers. 
  
 (e) The Custodian shall neither be responsible for or under, nor chargeable with knowledge of the terms and conditions of, any other
agreement, instrument or document in connection herewith. 
  

 21 

 (f) The Custodian shall not be liable for any action taken or omitted by it in good faith
and reasonably believed by it to be authorized hereby or with the rights or powers conferred upon it hereunder or in accordance with the advise of counsel. 
  
 Section 3.05 Indemnification of Custodian. 
  
 So long as UACC is the Servicer, each of the Servicer and Purchaser agrees to jointly and severally indemnify the Custodian and its employees, directors,
officers and agents and hold each harmless against any and all liabilities incurred by it hereunder as a consequence of such party’s action, and the Servicer and Purchaser agree jointly and severally to indemnify the Custodian and hold it
harmless against any claims, costs, payments, and expenses (including the fees and expenses of counsel) and all liabilities incurred by it in connection with the performance of its duties hereunder, except for those resulting from the gross
negligence or willful misconduct of the Custodian. The provisions of this indemnity shall survive the termination of this Agreement or the resignation or removal of the Custodian. 
  
 In no event shall the Custodian be liable for any indirect, special, punitive or consequential loss or damage of any kind
whatsoever, including, but not limited to, lost profits, even if the Custodian has been advised of the likelihood of such loss or damage and regardless of the form of action. 
  
 In no event shall the Custodian be liable for any failure or delay in the performance of its obligations hereunder because
of circumstances beyond its control, including, but not limited to, acts of God, flood, war (whether declared or undeclared), terrorism, fire, riot, embargo, government action, including any laws, ordinances, regulations, governmental action or the
like which delay, restrict or prohibit the providing of the services contemplated by this Agreement. 
  
 The Custodian may at any time resign as such by delivering the contents of the Contract Files to any successor Custodian designated by the Purchaser
hereto in writing, or to any court of competent jurisdiction, whereupon the Custodian shall be discharged of and from any and all further obligations arising in connection with this Agreement. The resignation of the Custodian will take effect on the
earlier of (a) the appointment of a successor (including by a court of competent jurisdiction) or (b) the day which is 30 days after the date of delivery of its written notice of resignation to the Servicer and Purchaser. If a successor Custodian
does not take office within 30 days after the retiring Custodian resigns or is removed, the retiring Custodian may petition any court of competent jurisdiction for the appointment of a successor Custodian. 
  
 ARTICLE IV 
  
 ADMINISTRATION AND SERVICING OF CONTRACTS 
  
 Section 4.01 Duties of Servicer. 
  
 (a) The Servicer, acting alone, shall, as agent for the Purchaser, manage, service, administer and make
collections on the Contracts. The Servicer agrees that its servicing of the Contracts shall be carried out in accordance with customary and usual procedures of financial institutions which service motor vehicle retail installment sales contracts and

  

 22 

 
installment loans and, to the extent more exacting, the Credit and Collection Policy; provided, however, if there is a successor Servicer, such successor
Servicer shall service the Contracts solely in accordance with its Credit and Collection Policy. In accordance with the foregoing, the Servicer may, whenever an Obligor has become delinquent or the Servicer believes an Obligor may become delinquent,
in order to preserve the ultimate collectability of amounts due on a Contract, modify the payment schedule on any Contract by reducing the APR on such Contract without the consent of the Purchaser; provided, that the Servicer will only make the
foregoing modifications to a Contract as required by operation of law, including the Servicemembers Civil Relief Act, the California Military Reservist Relief Act or any similar law of any State. The Servicer may also extend the Maturity Date on a
Contract in accordance with Section 4.02. The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors on the Contracts, investigating delinquencies, sending payment coupons to Obligors,
reporting tax information to Obligors, accounting for collections, furnishing monthly and annual statements to the Purchaser and the Lenders with respect to distributions and filing applicable U.S. tax returns for the Purchaser based on a tax year
for that calendar year. The Servicer shall have, subject to the terms hereof, full power and authority, acting alone, and subject only to the specific requirements and prohibitions of this Agreement, to do any and all things in connection with such
managing, servicing, administration and collection that it may deem necessary or desirable; provided, however, that the Servicer shall commence repossession efforts in respect of any Financed Vehicle respecting which the related Contract is four or
more months delinquent. Without limiting the generality of the foregoing, but subject to the provisions of this Agreement, the Servicer is authorized and empowered by the Purchaser to execute and deliver, on behalf of itself or the Purchaser, any
and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Contracts or to the Financed Vehicles. 
  
 (b) On or prior to the Initial Closing Date, and on each
Subsequent Closing Date as of which a change is or has been made in the identity of the Servicing Officers, the Servicer shall deliver to the Purchaser, the Custodian, the Backup Servicer, the Agents and the Administrative/Collateral Agent a list of
Servicing Officers involved in, or responsible for, the administration and servicing of the Contracts. 
  
 (c) On each Closing Date, the Servicer shall deposit in the Collection Account (i) all installments of Monthly P&I received after the
applicable Cut-Off Date by the Servicer at least two Business Days prior to such Closing Date; (ii) the proceeds of each Prepayment (excluding any portion allocable to interest due before the applicable Cut-Off Date) of any such Contract received by
the Servicer on or after the applicable Cut-Off Date but no later than two Business Days prior to such Closing Date; and (iii) all Net Liquidation Proceeds and Net Insurance Proceeds realized in respect of a Financed Vehicle at least two Business
Days prior to the Closing Date. 
  
 (d) The
Servicer shall deposit in or credit to the Collection Account within two Business Days of receipt all collections of Monthly P&I received after the applicable Cut-Off Date by it on or in respect of the Contracts together with the proceeds of all
Prepayments and any accompanying interest. The Servicer shall likewise deposit in the Collection Account within two Business Days of receipt all Net Liquidation Proceeds and Net Insurance Proceeds. The 

  

 23 

 
foregoing requirements for deposit in the Collection Account are exclusive, it being understood that collections in the nature of late payment charges or
extension fees or collections allocable to payments to be made by the Servicer on behalf of Obligors for payment of insurance premiums or similar items need not be deposited in the Collection Account and may be retained by the Servicer as additional
servicing compensation or for application on behalf of Obligors, as the case may be. 
  
 (e) With respect to payments of Monthly P&I made by Obligors to the Servicer’s lock box, if any, the Servicer shall direct the
Person maintaining the lock box to deposit the amount collected on or in respect of the Contracts to the Collection Account within two Business Days of receipt. 
  
 (f) In order to facilitate the servicing of the Contracts by the Servicer, the Servicer shall retain,
subject to and only to the extent permitted by the provisions of this Agreement, all collections on or in respect of the Contracts prior to the time they are remitted or credited, in accordance with such provisions, to the Collection Account. The
Servicer acknowledges that the unremitted collections on the Contracts are the property of the Purchaser subject to the security interest of the Administrative/Collateral Agent and the Servicer agrees to act as custodian and bailee of the Purchaser
in holding such monies and collections. 
  
 (g)
The Servicer shall retain all data (including, without limitation, computerized records) relating directly to or maintained in connection with the servicing of the Contracts at the address of the Servicer set forth as Schedule B to this Agreement or
upon 15 days’ notice to the Purchaser, the Custodian, the Backup Servicer, the Agents and the Administrative/Collateral Agent at such other place where the servicing offices of the Servicer are located, and shall give the Purchaser, the
Custodian, the Backup Servicer, the Agents and the Administrative/Collateral Agent access to all data at all reasonable times, provided, if UACC shall not be the Servicer, access in any calendar year of more than two occasions will be at a charge of
$5,000 per occasion. While a Servicer Default shall be continuing, the Servicer shall, on demand of the Purchaser, the Custodian, the Backup Servicer, the Agents or the Administrative/Collateral Agent provide all data (including, without limitation,
computerized records and, to the extent transferable, related operating software) necessary for the servicing of the Contracts and all monies collected by it and required to be deposited in or credited to the Collection Account. 
  
 (h) Within 10 days of written request by Purchaser, the
Custodian, the Backup Servicer, the Agents or the Administrative/Collateral Agent, the Seller shall deliver to the Purchaser, the Custodian, the Backup Servicer, the Agents and the Administrative/Collateral Agent a schedule of those Contracts,
segregated by Closing Date, as to which the Title Documents for the related Financed Vehicle do not show the Seller as first lienholder and as to which the Seller is obligated to repurchase that Contract pursuant to the provisions hereof.

  
 (i) In the case of any Contract in respect of
which written evidence from the Dealer selling or transferring the related Financed Vehicle that the Title Document for such Financed Vehicle showing the Seller as first lienholder has been applied for from the Registrar of Titles was delivered to
the Purchaser, the Custodian, the Backup Servicer, the Agents and the 

  

 24 

 
Administrative/Collateral Agent on a Closing Date in lieu of a Title Document, the Seller shall use its best efforts to collect such Title Document from the
Registrar of Titles as promptly as possible. If such Title Document showing the Seller as first lienholder is not received by the Seller within 120 days after the related Closing Date, then the representation and warranty in Section 3.01(b)(iii) in
respect of such Contract shall be deemed to have been incorrect in a manner that materially and adversely affects the Purchaser. 
  
 Section 4.02 Collection of Contract Payments. 
  
 The Servicer shall use its best efforts to collect all payments called for under the terms and provisions of the Contracts as and when the same shall
become due and shall use its best efforts to cause each Obligor to make all payments in respect of his or her Contract to the Servicer. Consistent with the foregoing and the Credit and Collection Policy, the Servicer may in its discretion (i) waive
any late payment charges in connection with delinquent payments on a Contract or prepayment charges and (ii) in order to work out a default or an impending default due to the financial condition of the Obligor, modify the payment schedule of a
delinquent Contract or extend the Maturity Date of a delinquent Contract by up to 90 days in the aggregate past the originally scheduled date of the last payment on such Contract. 
  
 Section 4.03 Realization Upon Delinquent Contracts and Liquidated Contracts. 
  
 The Servicer shall use its best efforts, consistent with the servicing
standard specified in Section 4.01 and the Credit and Collection Policy, to repossess or otherwise convert the ownership of the Financed Vehicle securing any Contract as to which no satisfactory arrangements can be made for collection of delinquent
payments. Such servicing procedures may include reasonable efforts to realize upon any recourse to Dealers and selling the Financed Vehicle at public or private sale. In connection with such repossession or other conversion, the Servicer shall
follow such practices and procedures as it shall deem necessary or advisable and as shall be normal and usual for prudent holders of motor vehicle retail installment sales contracts and installment loans; provided, however, that a successor Servicer
may follow its customary policies and procedures, and as shall be in compliance with all applicable laws, and, in connection with the repossession of any Financed Vehicle or any Contract in default, may, but shall not be obligated to, commence and
prosecute any proceedings in respect of such Contract in its own name or, if the Servicer deems it necessary, in the name of the Purchaser on behalf of the Purchaser. The Servicer’s obligations under this Section are subject to the provision
that, in the case of damage to a Financed Vehicle from an uninsured cause, the Servicer shall not be required to expend its own funds in repairing such Financed Vehicle unless it shall determine (i) that such restoration will increase the proceeds
of liquidation of the related Contract, after reimbursement to itself for such expenses, and (ii) that such expenses will be recoverable by it either as Liquidation Expenses or as expenses recoverable under an applicable Insurance Policy. In the
event that the Servicer determines that, in its best judgment, further collection efforts by it as to a Liquidated Contract will not result in the realization of additional Net Liquidation Proceeds, the Servicer may, in the name of the Purchaser,
and for the benefit of the Purchaser, sell the Liquidated Contract to any party not affiliated with the Servicer free and clear of the 

  

 25 

 
rights of the Purchaser. The Servicer shall be responsible for all other costs and expenses incurred by it in connection with any action taken in respect of
a Delinquent Contract; provided, however, that it shall be entitled to reimbursement of such costs and expenses to the extent they constitute Liquidation Expenses or expenses recoverable under an applicable Insurance Policy. All Net Liquidation
Proceeds, Net Insurance Proceeds and proceeds of the sale of Contracts hereunder shall be deposited directly in or credited to the Collection Account to the extent required by Section 5.01. 
  
 Section 4.04 Insurance. 
  
 To the extent the Obligor fails to maintain a comprehensive and collision
insurance policy in an amount at least equal to the lesser of (i) the actual cash value of the Financed Vehicle or (ii) the principal amount due from the Obligor under the related Contract, the Servicer (so long as UACC is the Servicer) shall use
reasonable efforts to induce the Obligor to acquire and maintain such insurance, but shall not be required to obtain such insurance for the Obligor or declare a default under the Contract if the Obligor fails or refuses to do so. 
  
 Section 4.05 Maintenance of Security Interests in Financed Vehicles.

  
 The Servicer shall take such steps as are necessary to
maintain continuous perfection and priority of the security interest created by each Contract in the related Financed Vehicle, including but not limited to, obtaining the execution by the Obligors and the recording, registering, filing,
re-recording, re-registering and re-filing of all security agreements, financing statements, continuation statements or other instruments as are necessary to maintain the security interest granted by Obligors under the respective Contracts. The
Purchaser hereby authorizes the Servicer to take such steps as are necessary to re-perfect such security interest on behalf of the Purchaser in the event of the relocation of a Financed Vehicle or for any other reason. In the event that the
assignment of a Contract to the Purchaser is insufficient, without a notation on the certificate of title to the related Financed Vehicle, or without fulfilling any additional administrative requirements under the laws of the state in which the
Financed Vehicle is located, to grant to the Purchaser a perfected security interest in such Financed Vehicle, the Seller hereby agrees that the identification of the Seller as the secured party on the certificate of title is deemed to be in its
capacity as an agent of the Purchaser and further agrees to hold such certificate of title as the Purchaser’s agent. 
  
 Section 4.06 Covenants, Representations and Warranties of Servicer and Seller. 
  
 The Servicer hereby makes the following covenants, representations and warranties on which the Purchaser is deemed to have
relied in acquiring the Contracts. Such covenants, representations and warranties speak as of the execution and delivery of this Agreement and as of each Closing Date but shall survive the sale, transfer and assignment of the Contracts to the
Purchaser. 
  

 26 

 (a) The Servicer covenants as to the Contracts: 
  
 (i) Lien in Force. 
  
 The Financed Vehicle securing each Contract shall not be
released from the lien granted by the Contract in whole or in part, except as contemplated herein. 
  
 (ii) Impairment. 
  
 The Servicer shall not impair the rights of the Purchaser in the Contracts. 
  
 (iii) Amendments. 
  
 The Servicer shall not amend the terms of any Contract, nor forgive payments on a Contract, except as
otherwise provided in Sections 4.01(a) and 4.02. 
  
 (iv) Transfers. 
  
 The Servicer
may consent to the sale or transfer by an Obligor of any Financed Vehicle if the original Obligor under the related Contract remains liable under such Contract and the transferee assumes all of the Obligor’s obligations thereunder. 

 
 (v) Security Interest. 
  
 So long as UACC is the Servicer, the Servicer shall maintain
the perfection and priority of the Purchaser’s ownership and security interests in the Contracts. 
  
 (vi) Credit and Collection Policy. 
  
 The Servicer shall not amend the Credit and Collection Policy in any way which might be materially adverse to the interests of the
Purchaser or the Lenders, provided that the Servicer shall not amend any provision of the Credit and Collection Policy relating to extensions or rewrites without the prior written consent of the Required Lenders in each such case.
Notwithstanding the preceding sentence, CenterOne, as successor Servicer, may amend its policies and procedures as it determines appropriate. 
  
 (b) The Seller represents, warrants, and covenants and such representations, warranties and covenants speak as of each Closing Date but
shall survive the sale, transfer and assignment of the Contracts to the Purchaser: 
  
 (i) Organization and Good Standing. 
  
 The Seller (A) has been duly organized and is validly existing as a corporation in good standing under the laws of the State of
California, (B) has qualified to do business as a foreign corporation and is in good standing in each jurisdiction where the character of its properties or the nature of its activities makes such qualification necessary, and (C) has full power,
authority and legal right to own its property, to carry on its business as presently conducted and to enter into and perform its obligations under this Agreement 
  

 27 

 (ii) Power and Authority. 
  
 The execution and delivery by the Seller of this Agreement
are within the corporate power of the Seller and have been duly authorized by all necessary corporate action on the part of the Seller. Neither the execution and delivery of this Agreement, nor the consummation of the transactions herein
contemplated, nor compliance with the provisions hereof, will conflict with or result in a breach of, or constitute a default under, any of the provisions of any law, governmental rule, regulation, judgment, decree or order binding on the Seller or
its properties or the articles of incorporation or bylaws of the Seller, or any of the provisions of any indenture, mortgage, contract or other instrument to which the Seller is a party or by which it is bound or result in the creation or imposition
of any lien, charge or encumbrance upon any of its property pursuant to the terms of any such indenture, mortgage, contract or other instrument. 
  
 (iii) Governmental Consents. 
  
 The Seller is not required to obtain the consent of any other party or consent, license, approval or authorization, or registration or
declaration with, any governmental authority, bureau or agency in connection with the execution, delivery, performance, validity or enforceability of this Agreement, except (in each case) such as have been obtained and are in full force and effect.

  
 (iv) Binding Obligation. 

 
 This Agreement has been duly executed and delivered by
the Seller and, assuming the due authorization, execution and delivery thereof by the Purchaser, constitutes a legal, valid and binding instrument enforceable against the Seller in accordance with its terms (subject to applicable bankruptcy and
insolvency laws and other similar laws affecting the enforcement of creditors’ rights generally). 
  
 (v) No Proceedings. 
  
 There are no actions, suits or proceedings pending or, to the knowledge of the Seller, threatened against or affecting the Seller, before
or by any court, administrative agency, arbitrator or governmental body with respect to any of the transactions contemplated by this Agreement, or which will, if determined adversely to the Seller, materially and adversely affect it or its business,
assets, operations or condition, financial or otherwise, or adversely affect the Seller’s ability to perform its obligations hereunder. The Seller is not in default with respect to any order of any court, administrative agency, arbitrator or
governmental body so as to materially and adversely affect the transactions contemplated by the above-mentioned documents. 
  
 (vi) Other Consents. 
  
 The Seller has obtained or made all necessary consents, approvals, waivers and notifications of creditors, lessors and other
nongovernmental persons, in each case in connection with the execution and delivery of, and the consummation of the transactions contemplated by, this Agreement. 
  

 28 

 (vii) Payments by Obligor. 
  
 The Seller shall instruct each Obligor to submit all amounts
due under the related Contract to a post office box controlled by the Administrative/Collateral Agent or by a trustee party to the Intercreditor Agreement, as advised by the Administrative/Collateral Agent or a trustee party to the Intercreditor
Agreement. 
  
 Section 4.07 Repurchase of Contracts Upon Breach
of Covenant. 
  
 The Servicer or the Purchaser shall inform
the other party promptly, in writing, upon the discovery of any breach pursuant to Section 4.01(a), 4.02, 4.05 or 4.06. Unless the breach shall have been cured within 30 days following such discovery, the Servicer shall purchase any Contract
materially and adversely affected by such breach. In consideration of the purchase of such Contract, the Servicer shall remit the Repurchase Amount in the manner specified in Section 5.03. The sole remedy of the Purchaser with respect to a breach
pursuant to Section 4.01(a), 4.02, 4.05 or 4.06 shall be to require the Servicer to purchase Contracts pursuant to this Section; provided, however, that the Servicer shall indemnify the Purchaser against all costs, expenses, losses, damages, claims
and liabilities, including reasonable fees and expenses of counsel, which may be asserted against or incurred by any of them as a result of third-party claims arising out of the events or facts giving rise to such breach. The Purchaser and the
Lenders shall have no duty to conduct any affirmative investigation as to the occurrence of any condition requiring the repurchase of any Contract pursuant to this Section. This Section shall survive the termination of this Agreement. CenterOne, as
successor Servicer, shall have no obligations under this Section. 
  
 Section 4.08 Servicing Compensation. 
  
 As
compensation for the performance of its obligations under this Agreement and subject to the terms of this Section, the Servicer shall be entitled to receive from amounts on deposit in the Collection Account, pursuant to Section 9.5(a)(iv) of the
Receivables Financing Agreement, on each Distribution Date the Servicing Fee in respect of each Contract that was Outstanding at the beginning of the Collection Period ending immediately prior to such Distribution Date, to the extent the related
payment of Monthly P&I has been collected pursuant to Section 5.03. As servicing compensation in addition to the Servicing Fee, the Servicer shall be entitled to retain all late payment charges, extension fees and similar items paid in respect
of Contracts. 
  
 Section 4.09 Reporting by the Servicer.

  
 (a) On each Servicer Report Date, the
Servicer shall transmit to the Purchaser, the Backup Servicer, the Agents and the Administrative/Collateral Agent a statement in the form and substance acceptable to the Required Lenders (the “Distribution Date Statement”), setting forth
with respect to that Distribution Date such information as the Lenders may reasonably request. 
  
 (b) Upon the pledge by the Purchaser of the Contracts pursuant to the Receivables Financing Agreement, the Servicer agrees that the
Administrative/Collateral Agent 

  

 29 

 
will become the third party beneficiary to this Agreement and the Servicer agrees to furnish to the Administrative/Collateral Agent the Distribution Date
Statement. 
  
 (c) On each Servicer Report Date,
the Servicer shall deliver or mail to the Purchaser, the Backup Servicer, the Agents and the Administrative/Collateral Agent, a certificate of a Servicing Officer stating (i) the Contract Number and outstanding principal balance of each Contract
that has become a Liquidated Contract since the Business Day next preceding the date of the last certificate delivered pursuant to this subsection (or since the Closing Date in the case of the first such certificate); (ii) that all proceeds received
in respect of such Contract during the Collection Period preceding the date of the report have been deposited in or credited to the Collection Account as required by Section 5.01; (iii) that, if such Contract has been the subject of a Full
Prepayment pursuant to clause (i) of the definition of the term “Full Prepayment” or is a Liquidated Contract pursuant to clause (iii) of the definition of the term “Liquidated Contract,” all proceeds received in respect thereof
during the Collection Period preceding the date of the report have been deposited in or credited to the Collection Account in accordance with Section 5.01; (iv) that, if such Contract has been the subject of a Full Prepayment pursuant to clause (ii)
of the definition of the term “Full Prepayment,” during the Collection Period preceding the date of the report the correct Repurchase Amount has been deposited in or credited to the Collection Account in accordance with Section 4.07 or
5.03; (v) that, if such Contract is a Liquidated Contract pursuant to clause (ii) of the definition of the term “Liquidated Contract,” during the Collection Period preceding the date of the report there have been deposited in or credited
to the Collection Account the related Net Liquidation Proceeds in accordance with Section 5.01; (vi) the current Aggregate Principal Balance as of the end of the Collection Period preceding the date of the report; (vii) the total dollar amount of
charged-off Contracts during the Collection Period preceding the date of the report; (viii) the total dollar amount of delinquent Contracts as of the end of the Collection Period preceding the date of the report ; and (ix) the total dollar amount of
all Contracts in respect of which the related Financed Vehicles have been repossessed but have not been liquidated as of the end of the Collection Period preceding the date of the report. 
  
 Section 4.10 Indemnification; Third Party Claims. 
  
 Subject to Section 8.02, the Servicer agrees to indemnify and hold the Purchaser, the Custodian and each Lender harmless
against any and all claims, losses, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and any reasonable other costs, fees and expenses that it may sustain because of the failure of it to perform its duties and
service the Contracts in compliance with the terms of this Agreement; provided, however, that a successor Servicer shall not be liable in excess of the amount of fees received by it or for any incidental, consequential or special damages. The
Servicer shall immediately notify the Purchaser, the Custodian and each Lender if a claim is made by a third party with respect to the Contracts, assume, with the consent of the Purchaser and the Required Lenders the defense of any such claim and
pay all expenses in connection therewith, including counsel fees, and promptly pay, discharge and satisfy any judgment or decree which may be entered against it or the Purchaser or the Lenders. 
  

 30 

 Section 4.11 Applicable Laws, Etc. 
  
 The Servicer shall comply, in all material respects with all applicable federal, state and local laws (and regulations
thereunder), including usury, equal credit opportunity, fair credit reporting, truth-in-lending or other similar laws, the Federal Trade Commission Act, the Fair Debt Collection Practices Act, the Fair Credit Billing Act, the Magnuson-Moss Warranty
Act, the Federal Reserve Bond’s Regulations B and Z, the Servicemembers Civil Relief Act, the California Military Reservist Relief Act, state adoptions of the National Consumer Act and the Uniform Consumer Credit Code and other applicable state
laws regulating retail installment sales contracts and loans in general and motor vehicle retail installment contracts and loans in particular. 
  
 Section 4.12 Nonpetition Covenant. 
  
 (a) Neither the Seller nor the Servicer shall petition or otherwise invoke the process of any court or government authority for the
purpose of commencing or sustaining a case against the Purchaser under any federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the
Purchaser or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Purchaser. 
  
 ARTICLE V 
  
 DISTRIBUTIONS 
  
 Section 5.01 Collections; Net Deposits. 
  
 (a) Subject to Section 5.02, the Servicer shall remit or credit all payments by the Obligors on the Contracts, all payments on behalf of Obligors on the Contracts, and all Net Liquidation Proceeds and Net Insurance
Proceeds to the Collection Account (within two Business Days as specified in Section 4.01). 
  
 Section 5.02 Application of Collections. 
  
 Except as otherwise required by the terms of any Contract, all collections for the related Collection Period shall be applied by the
Servicer to amounts due under a Contract as follows: with respect to each Contract (including a Delinquent Contract), payments by or on behalf of an Obligor shall be applied first to late payment and extension fees, second to interest accrued on the
Contract, third to principal due on the Contract and fourth to administrative charges, if any. Any excess shall be applied to prepay the principal balance of the Contract. 
  
 Section 5.03 Repurchase Amounts. 
  
 The Servicer (so long as UACC is the Servicer) or the Seller, as the case may be, shall remit or credit to
the Collection Account the aggregate Repurchase Amount with respect to 

  

 31 

 
Repurchased Contracts on or before the Servicer Report Date next succeeding the last day of the related cure period specified in Section 3.02 or 4.07, as the
case may be. 
  
 Section 5.04 Distribution to Purchaser.

  
 So long as this Agreement is in effect, the
Servicer (so long as UACC is the Servicer) shall make or cause to be made distributions to the Purchaser as described in Section 9.5 of the Receivables Financing Agreement notwithstanding such agreement may have otherwise been terminated.

  
 ARTICLE VI 
  
 THE SELLER 
  
 Section 6.01 Corporate Existence. 
  
 During the term of this Agreement, the Seller will keep in full force and effect its existence, rights and franchises as a
corporation under the laws of the jurisdiction of its incorporation and will obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of
this Agreement, and each other instrument or agreement necessary or appropriate to the proper administration of this Agreement and the transactions contemplated hereby. In addition, all transactions and dealings between the Seller and its Affiliates
will be conducted on an arm’s-length basis. 
  
 Section 6.02
Liability of Seller; Indemnities. 
  
 (a)
The Seller shall be liable in accordance herewith only to the extent of the obligations specifically undertaken by the Seller under this Agreement. 
  
 (b) The Seller shall indemnify, defend and hold harmless the Purchaser, the Custodian, the Backup Servicer, as successor Servicer, and
each Lender from and against any taxes that may at any time be asserted against the Purchaser, the Custodian, the Backup Servicer, as successor Servicer, or such Lender with respect to the transactions contemplated herein, including any sales, gross
receipts, general corporation, tangible personal property, privilege or license taxes, but not including any taxes asserted with respect to, and as of the date of, the sale of the Contracts to the Purchaser, or asserted with respect to ownership of
the Contracts and costs and expenses in defending against the same. 
  
 (c) The Seller shall indemnify, defend and hold harmless the Purchaser, the Custodian, the Backup Servicer, as successor Servicer, and each Lender from and against any loss, liability or expense incurred by reason of
the Seller’s willful misfeasance, bad faith or negligence (other than errors in judgment) in the performance of its duties under this Agreement, or by reason of reckless disregard of its obligations and duties under this Agreement. 

 

 32 

 (d) Indemnification under this Section shall include, without limitation, reasonable fees
and expenses of counsel and expenses of litigation. If the Seller shall have made any indemnity payments pursuant to this Section and the Person to or on behalf of whom such payments are made thereafter shall collect any of such amounts from others,
such Person shall promptly repay such amounts to the Seller, without interest. This Section shall survive the termination of this Agreement or the resignation or removal of the Custodian or the Backup Servicer, as successor Servicer. 
  
 Section 6.03 Merger or Consolidation of, or Assumption of the Obligations
of, Seller; Certain Limitations. 
  
 The Seller shall not
consolidate with or merge into any other corporation or convey, transfer or lease substantially all of its assets as an entirety to any Person unless the corporation formed by such consolidation or into which the Seller has merged or the Person
which acquires by conveyance, transfer or lease substantially all the assets of the Seller as an entirety, can lawfully perform the obligations of the Seller hereunder and executes and delivers to the Purchaser, an agreement in form and substance
reasonably satisfactory to the Purchaser and the Required Lenders, which contains an assumption by such successor entity of the due and punctual performance and observance of each covenant and condition to be performed or observed by the Seller
under this Agreement. 
  
 Section 6.04 Limitation on Liability
of Seller and Others. 
  
 The Seller and any director or
officer or employee or agent of the Seller may rely in good faith on any document of any kind, prima facie properly executed and submitted by any Person respecting any matters arising hereunder. The Seller shall not be under any obligation to appear
in, prosecute or defend any legal action that shall not be incidental to its obligations under this Agreement, and that in its opinion may involve it in any expense or liability. 
  
 Section 6.05 Seller Not to Resign. 
  
 The Seller shall not resign from the obligations and duties hereby imposed on it as Seller hereunder. 
  
 ARTICLE VII 
  
 THE SERVICER 
  
 Section 7.01 Liability of Servicer; Indemnities. 
  
 Subject to Section 8.02, the Servicer shall be liable in accordance herewith only to the extent of the obligations specifically undertaken by the Servicer
under this Agreement. Such obligations shall include the following: 
  
 (a) The Servicer shall indemnify, defend and hold harmless the Purchaser, the Custodian, the Backup Servicer, as successor Servicer, and each Lender, from and against any 

  

 33 

 
and all costs, expenses, losses, damages, claims and liabilities, arising out of or resulting from the use, ownership or operation by it, or any of its
Affiliates of a Financed Vehicle. 
  
 (b) The
Servicer (so long as UACC is the Servicer) shall indemnify, defend and hold harmless the Purchaser, the Custodian, the Backup Servicer, as successor Servicer, and each Lender , from and against any taxes that may at any time be asserted against the
Purchaser, the Custodian or such Lender with respect to the transactions contemplated herein, including, without limitation, any sales, gross receipts, general corporation, tangible personal property, privilege or license taxes (but not including
any taxes asserted with respect to, and as of the date of, the sale of the Contracts to the Purchaser, or asserted with respect to ownership of the Contracts, or federal or other income taxes arising out of distributions on the Contracts) and costs
and expenses in defending against the same. 
  
 (c) The Servicer shall indemnify, defend and hold harmless the Purchaser, the Custodian, the Backup Servicer, as successor Servicer, and each Lender , from and against any and all costs, expenses, losses, claims, damages and liabilities to
the extent that such cost, expense, loss, claim, damage or liability arising out of or incurred in connection with the negligence, willful misfeasance or bad faith of the Servicer in the performance of its duties under this Agreement, by reason of
reckless disregard of its obligations and duties under this Agreement. 
  
 (d) The Servicer (so long as UACC is the Servicer) shall indemnify, defend and hold harmless the Purchaser, the Custodian, the Backup Servicer, as successor Servicer, and each Lender , from and against any and all
costs, expenses, losses, claims, damages and liabilities arising out of or incurred in connection with the acceptance or performance of the duties herein contained, except to the extent that such cost, expense, loss, claim, damage or liability (i)
shall be due to the willful misfeasance, bad faith or negligence (except for errors in judgment) of the Purchaser or such Lender; (ii) relates to any tax other than the taxes with respect to which either the Seller or Servicer shall be required to
indemnify the Purchaser or such Lender; (iii) shall arise from the Purchaser’s breach of any of its representations or warranties set forth herein; or (iv) shall be one as to which the Seller is required to indemnify the Purchaser or such
Lender. 
  
 If the Servicer shall have made any indemnity payments
pursuant to this Section and the Person to or on behalf of whom such payments are made thereafter collects any of such amounts from others, such Person shall promptly repay such amounts to the Servicer, without interest. This Section shall survive
the termination of this Agreement or the resignation or removal of the Custodian or the Backup Servicer, as successor Servicer. Notwithstanding anything else in this Agreement, a successor Servicer shall not be liable in excess of the amount of its
fees collected or for any incidental, consequential or special damages. 
  
 Section 7.02 Corporate Existence; Status as Servicer; Merger. 
  
 The Servicer shall not consolidate with or merge into any other entity or convey, transfer or lease all or substantially all of its assets as an entirety to any Person unless the entity formed by such consolidation or
into which the Servicer has merged or the Person which 

  

 34 

 
acquires by conveyance, transfer or lease substantially all the assets of the Servicer as an entirety can lawfully perform the obligations of the Servicer
hereunder and executes and delivers to the Purchaser and the Lenders an agreement in form and substance reasonably satisfactory to the Purchaser and the Required Lenders, which contains an assumption by such successor entity of the due and punctual
performance or observance of each covenant and condition to be performed or observed by the Servicer under this Agreement. 
  
 Section 7.03 Performance of Obligations. 
  
 (a) The Servicer shall punctually perform and observe all of its obligations and agreements contained in this Agreement. 
  
 (b) The Servicer shall not take any action, or consent to
any action to be taken by others, which would excuse any person from any of its covenants or obligations under any of the documents in the Contract Files, or which would result in the amendment, hypothecation, subordination, termination or discharge
of, or impair the validity or effectiveness of, any of the documents in the Contract Files or any such instrument, except as expressly provided herein and therein. 
  
 Section 7.04 Servicer Not to Resign; Assignment. 
  
 (a) The Servicer shall not resign from the duties and obligations hereby imposed on it except upon
determination by its Board of Directors that by reason of change in applicable legal requirements the continued performance by the Servicer of its duties hereunder would cause it to be in violation of such legal requirements in a manner which would
result in a material adverse effect on the Servicer or its financial condition, said determination to be evidenced by a resolution of its Board of Directors to such effect accompanied by an Opinion of Counsel, satisfactory to the Purchaser, to such
effect. No such resignation shall become effective unless and until a new servicer acceptable to the Purchaser and the Required Lenders is willing to service the Contracts and enters into a servicing agreement with the Purchaser in form and
substance substantially similar to this Agreement and reasonably satisfactory to the Purchaser and the Required Lenders; provided, however, in the event a replacement servicer is not appointed within 120 days after CenterOne, as successor Servicer,
has given the notice required above, the resignation of CenterOne, as successor Servicer, shall become effective. No such resignation shall affect the obligation of the Servicer to repurchase Contracts pursuant to Section 4.07. 
  
 (b) Except as specifically permitted in this Agreement, the
Servicer may not assign this Agreement or any of its rights, powers, duties or obligations hereunder; provided that the Servicer may assign this Agreement in connection with a consolidation, merger, conveyance, transfer or lease made in compliance
with Section 7.02. The Servicer, including the Backup Servicer as successor Servicer, may, however, at any time with notice to the Purchaser and the Lenders but without consent, delegate any or all of its duties under this Agreement to any Affiliate
or appoint a subservicer or subcontractor to perform all or any portion of its obligations as Servicer hereunder; provided that the Servicer shall be obligated and be liable for the performance of such obligations in accordance with the provisions
of this Agreement without 

  

 35 

 
diminution of such obligations by virtue of the delegation to such Affiliate or the appointment of such subservicer or subcontractor to the same extentas if
the Servicer alone were performing such duties. 
  
 (c) Except as provided in Sections 7.04(a) and (b), the duties and obligations of the Servicer under this Agreement shall continue until this Agreement shall have been terminated as provided in Section 9.01. 
  
 (d) The resignation of the Servicer in accordance with this
Section shall not affect the rights of the Seller hereunder. 
  
 Section 7.05 Limitation on Liability of Servicer and Others. 
  
 (a) Neither the Servicer nor any of the directors, officers, employees or agents of the Servicer shall be under any liability to the Purchaser, except as provided under this Agreement, for any action taken or for
refraining from the taking of any action pursuant to this Agreement or for errors in judgment; provided, however, that this provision shall not protect the Servicer or any such person against any liability that would otherwise be imposed by reason
of willful misfeasance, bad faith or negligence (except errors in judgment) in the performance of duties or by reason of reckless disregard of obligations and duties under this Agreement. The Servicer and any director, officer, employee or agent of
the Servicer may rely in good faith on any document of any kind prima facie properly executed and submitted by any person respecting any matters arising under this Agreement. 
  
 Except as provided in this Agreement, the Servicer shall not be under any obligation to appear in, prosecute or defend any
legal action that shall not be incidental to its duties to service the Contracts in accordance with this Agreement, and that in its opinion may involve it in any expense or liability; provided, however, that the Servicer may undertake any reasonable
action that it may deem necessary or desirable in respect of this Agreement and the rights and duties of the parties to this Agreement. 
  
 ARTICLE VIII 
  
 DEFAULT 
  
 Section 8.01 Servicer Default. 
  
 If any one of
the following events (a “Servicer Default”) shall occur and be continuing: 
  
 (a) Any failure by the Servicer to deposit or credit, or to deliver for deposit, in the Collection Account any amount required hereunder
to be as deposited, credited or delivered or to make any required distributions therefrom, that shall continue unremedied for a period of two Business Days after written notice of such failure is received from the Purchaser, the Custodian, the
Backup Servicer, an Agent or the Administrative/Collateral Agent or after discovery of such failure by an officer of the Servicer; 
  

 36 

 (b) Any failure by the Servicer to deliver to the Purchaser, the Backup Servicer, the
Agents or the Administrative/Collateral Agent, a report in accordance with Section 4.09 by the fourth Business Day prior to the Distribution Date with respect to which such report is due, or the Servicer shall have defaulted in the due observance of
any provision of Section 7.02 (other than failure to enter into an assumption agreement under Section 7.02, which is a Servicer Default only if such failure continues for ten Business Days); 
  
 (c) Failure on the part of the Seller, or the Servicer duly
to observe or to perform in any material respect any other covenants or agreements of the Servicer or the Seller set forth in this Agreement which failure shall (i) materially and adversely affects the rights of the Purchaser or the Lenders, and
(ii) continues unremedied for a period of 30 days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Servicer or the Seller (as the case may be) by the Purchaser or the
Administrative/Collateral Agent; 
  
 (d) The
occurrence of an Insolvency Event with respect to the Seller or the Servicer; 
  
 (e) Any representation, warranty or statement of the Servicer, or the Seller made in this Agreement or any certificate, report or other writing delivered pursuant hereto shall prove to be incorrect in any material
respect as of the time when the same shall have been made (excluding, however, any representation or warranty to which Section 3.01 or 4.06 shall be applicable so long as the Servicer or the Seller shall be in compliance with Section 3.02 or 4.07,
as the case may be), and the incorrectness of such representation, warranty or statement has a material adverse effect on the Purchaser and, within 30 days after written notice thereof shall have been given to the Servicer or the Seller by the
Purchaser, the Custodian, the Backup Servicer, an Agent or the Administrative/Collateral Agent, the circumstance or condition in respect of which such representation, warranty or statement was incorrect shall not have been eliminated or otherwise
cured; 
  
 (f) the Portfolio Delinquency Ratio
exceeds 2.50%; 
  
 (g) the Portfolio Loss Ratio
exceeds 10.00%; 
  
 (h) United Panam Financial
Corp. fails to own directly or indirectly 100% of the outstanding equity in the Servicer; 
  
 (i) a Facility Termination Event occurs; 
  
 (j) Breach by Servicer of any of its obligations under the Receivables Financing Agreement; 
  
 (k) the Tangible Net Worth of United PanAm Financial
Corporation is less than the sum of (a) $90,000,000 plus (b) 75% of the cumulative positive net income (without deduction for negative net income) of United PanAm Financial Corporation for each fiscal quarter having been completed since June 30,
2004; 
  

 37 

 then, and in each and every case, so long as such Servicer Default shall not have been remedied the Required Lenders, by
notice then given in writing to the Servicer may terminate all the rights and obligations of the Servicer under this Agreement. On or after the receipt by the Servicer of such written notice, all authority and power of the Servicer under this
Agreement, shall, without further action, pass to and be vested in the Backup Servicer, or such successor Servicer as may be appointed under Section 8.02. The Servicer shall cooperate with the Required Lenders in effecting the termination of the
responsibilities and rights of the predecessor Servicer under this Agreement, including the transfer to the Backup Servicer or the Administrative/Collateral Agent for administration by it of all cash amounts that shall at the time be held by the
predecessor Servicer for deposit, or shall thereafter be received by it with respect to any Contract. 
  
 Notwithstanding anything in this Agreement to the contrary, a delay in or a failure to perform by the Servicer under this Agreement for a period of no
more than 60 days shall not constitute a breach or a Servicer Default under this Agreement if such delay or failure could not be prevented by the exercise of reasonable diligence by the Servicer and such delay or failure was caused by an act of God
or the public enemy, acts of declared or undeclared war, public disorder, rebellion or sabotage, epidemics, landslides, lightning, fire, hurricanes, earthquakes, floods or similar causes; provided, however, that the foregoing shall not relieve the
Servicer from using reasonable efforts to perform its obligations in a timely manner in accordance with the term of this Agreement. 
  
 Section 8.02 Purchaser to Act; Appointment of Successor. Upon the Servicer’s receipt of notice of termination pursuant to Section 8.01 or
resignation pursuant to Section 7.04, the Backup Servicer (subject to the provision specified in the Receivables Financing Agreement and to the terms, conditions and modifications contained in Schedule D to this Agreement) or any other Person
appointed by the Administrative/Collateral Agent acting at the written direction of the Required Lenders shall be the successor to the Servicer in its capacity as servicer under this Agreement. 
  
 ARTICLE IX 
  
 TERMINATION 
  
 This Agreement shall continue until all Contracts have been paid in full or until the Seller, Servicer, Purchaser and the Required Lenders mutually agree
to terminate this Agreement. If, at such time of termination, any Contracts remain outstanding, all Contract Files and Net Collections shall be delivered to the Purchaser. 
  
 ARTICLE X 
  
 MISCELLANEOUS 
  
 Section 10.01 Amendment. This Agreement may be amended by the Seller, the Servicer and the Purchaser with the consent of the Required Lenders only
by a subsequent written agreement executed by all parties to this Agreement; provided no such amendment shall 

  

 38 

 
adversely affect the rights, privileges, obligation or liabilities of the Backup Servicer, including in its capacity as successor Servicer, without its
consent. 
  
 Section 10.02 Protection of Title to Contracts and
Proceeds. 
  
 (a) The Seller shall file such
financing statements and cause to be filed such continuation statements, all in such manner and in such places as may be required by law fully to preserve, maintain and protect the interest of the Purchaser, in the Contracts and in the proceeds
thereof. The Seller shall deliver (or cause to be delivered) to the Purchaser, the Custodian, the Backup Servicer, the Agents and the Administrative/Collateral Agent, file-stamped copies of, or filing receipts for, any document filed as provided
above, as soon as available following such filing. 
  
 (b) The Seller shall not change its name, identity or corporate structure in any manner that would, could or might make any financing statement or continuation statement filed in accordance with Section 10.02(a) seriously misleading within
the meaning of the UCC, unless it shall have given the Purchaser, the Custodian, the Backup Servicer, the Agents and the Administrative/Collateral Agent, at least 60 days’ prior written notice thereof and shall have promptly filed appropriate
amendments to all previously filed financing statements or continuation statements. 
  
 (c) Seller shall give the Purchaser, the Custodian, the Backup Servicer, the Agents and the Administrative/Collateral Agent at least 60
days’ prior written notice of any relocation of the principal executive office of Seller if, as a result of such relocation, the applicable provisions of the UCC would require the filing of any amendment of any previously filed financing or
continuation statement or of any new financing statement and shall promptly file any such amendment or new financing statement. The Seller shall at all times maintain each office from which it shall service Contracts, and its principal executive
office, within the United States. 
  
 (d) The
Servicer shall maintain or cause to be maintained accounts and records as to each Contract accurately and in sufficient detail to permit (i) the reader thereof to know at any time the status of such Contract, including payments and recoveries made
and payments owing (and the nature of each) and (ii) reconciliation between payments or recoveries on (or with respect to) each Contract and the amounts from time to time deposited in or credited to the Collection Account in respect of such
Contract. 
  
 (e) The Servicer shall maintain or
cause to be maintained its computer systems so that, from and after the time of sale under this Agreement of the Contracts, the Servicer’s master computer records (including any backup archives) that shall refer to a Contract indicate clearly
the interest of the Purchaser in such Contract and that such Contract is owned by the Purchaser. Indication of the Purchaser’s ownership interest in a Contract shall be deleted from or modified on the Servicer’s computer systems when, and
only when, the related Contract shall have been paid in full or repurchased or shall have become a Liquidated Contract. 
  
 (f) If at any time the Seller shall propose to sell, grant a security interest in, or otherwise transfer any interest in automotive retail
installment sales contracts to any prospective 

  

 39 

 
purchaser, lender or other transferee, the Servicer shall give or cause to be given to such prospective purchaser, lender or other transferee computer tapes,
records or print-outs (including any restored from back-up archives) that, if they shall refer in any manner whatsoever to any Contract, shall indicate clearly that such Contract has been sold and is owned by the Purchaser. 
  
 (g) The Servicer shall permit the Purchaser and each Lender
and their respective agents, at any time during normal business hours, to inspect, audit and make copies of and abstracts from the Servicer’s records regarding any Contract. 
  
 Section 10.03 Governing Law. This Agreement shall be construed in accordance with the laws of the State of New York
and the obligations, rights, and remedies of the parties under the Agreement shall be determined in accordance with such laws. 
  
 Section 10.04 Notices. All demands, notices and communications upon or to the parties to this Agreement shall be in writing, personally delivered
or mailed by certified mail, return receipt requested, and shall be deemed to have been duly given upon receipt at the address set forth below: 
  
 The Seller: 
  
 3990 Westerly Place, Suite 200 
 Newport
Beach, California 92660 
 Attention: Garland Koch 
 TEL: (949) 224-1244 and 
 FAX: (949) 224-1910. 
  
 The Servicer: 
  
 3990 Westerly Place, Suite 200 
 Newport
Beach, California 92660 
 Attention: Garland Koch 
 TEL: (949) 224-1244 and 
 FAX: (949) 224-1910 
  
 The Purchaser: 
  
 3990 Westerly Place, Suite 200 
 Newport
Beach, California 92660 
 Attention: Garland Koch 
 TEL: (949) 224-1244 and 
 FAX: (949) 224-1910 
  
 The Custodian: 
  
 1761 East St. Andrew Place 
 Santa Ana,
California 92705 
 Attention: Mortgage Custody UA041C 
 TEL: (714) 247-6000 
 FAX: (714) 247-6082 
  

 40 

 Section 10.05 Severability of Provisions. If 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 10.06 Assignment. Notwithstanding anything to the contrary contained herein, as provided in Sections 6.03, 7.02 and 8.04, this Agreement may not be assigned by the Seller or the Servicer without the
prior written consent of the Purchaser and the Required Lenders. 
  
 Section 10.07 Counterparts. This Agreement may be executed in several counterparts, each of which shall be an original and all of which shall together constitute but one and the same instrument. 
  
 Section 10.08 Headings. The headings of the various Articles and
Sections herein are for convenience of reference only and shall not define or limit any of the terms or provisions hereof. 
  
 Section 10.09 Assignment by Purchaser. The Seller hereby acknowledges and consents to the mortgage, pledge, assignment and grant of a security
interest by the Purchaser of all right, title and interest of the Purchaser in, to and under the Contracts and/or the assignment of any or all of the Purchaser’s rights and obligations hereunder pursuant to the Receivables Financing Agreement.

  

 41 

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

					
	 UPFC FUNDING CORP.
 as
Purchaser

		
	By:	 	 /s/ Garland Koch

	 	 	 Name:
	 	 Garland Koch

	 	 	 Title:
	 	 Senior Vice President

	
	 UNITED AUTO CREDIT CORPORATION
 as Servicer

		
	 By:
	 	 /s/ Mario Radrigan

	 	 	 Name:
	 	 Mario Radrigan

	 	 	 Title:
	 	 Executive Vice President

	
	 UNITED AUTO CREDIT CORPORATION
 as Seller

		
	 By:
	 	 /s/ Mario Radrigan

	 	 	 Name:
	 	 Mario Radrigan

	 	 	 Title:
	 	 Executive Vice President

	
	 DEUTSCHE BANK TRUST COMPANY
 AMERICAS,

	
	 not in its individual capacity but solely as Custodian

		
	By:	 	 /s/ Christopher Corcoran

	 	 	 Name:
	 	 Christopher Corcoran

	 	 	 Title:
	 	 Assistant Vice President

  

 42

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00074-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00074-of-00352.parquet"}]]