Document:

Pooling Agreement

 EXHIBIT 4.3 
  

 
  

POOLING AGREEMENT 

BETWEEN 
 ALLY AUTO
ASSETS LLC 
 AND 

ALLY BANK 
 DATED AS OF
NOVEMBER 22, 2017 
  
  

 

 TABLE OF CONTENTS 
  

									
	 	 	 	  	 	  	Page	 
	 ARTICLE I DEFINITIONS 
	  	 	1	 
		 	SECTION 1.01	  	Definitions	  	 	1	 
		 	SECTION 1.02	  	Owner of a Receivable	  	 	1	 
		
	 ARTICLE II PURCHASE AND SALE OF RECEIVABLES 
	  	 	2	 
		 	SECTION 2.01	  	Purchase and Sale of Receivables	  	 	2	 
		 	SECTION 2.02	  	Receivables Purchase Price	  	 	3	 
		 	SECTION 2.03	  	The Closing	  	 	3	 
		
	 ARTICLE III REPRESENTATIONS AND WARRANTIES 
	  	 	3	 
		 	SECTION 3.01	  	Representations and Warranties as to the Receivables.	  	 	3	 
		 	SECTION 3.02	  	Representations and Warranties as to the Pool of Receivables	  	 	6	 
		 	SECTION 3.03	  	Additional Representations and Warranties of the Seller	  	 	6	 
		 	SECTION 3.04	  	Representations and Warranties of Ally Auto	  	 	7	 
		
	 ARTICLE IV ADDITIONAL AGREEMENTS 
	  	 	8	 
		 	SECTION 4.01	  	Conflicts With Further Transfer Agreements	  	 	8	 
		 	SECTION 4.02	  	Protection of Title	  	 	8	 
		 	SECTION 4.03	  	Other Liens or Interests	  	 	9	 
		 	SECTION 4.04	  	Repurchase or Substitution of Receivables	  	 	9	 
		 	SECTION 4.05	  	Indemnification	  	 	11	 
		 	SECTION 4.06	  	Further Assignments	  	 	11	 
		 	SECTION 4.07	  	Pre-Closing Collections	  	 	11	 
		 	SECTION 4.08	  	Compliance with the FDIC Rule	  	 	11	 
		 	SECTION 4.09	  	Asset Representations Review	  	 	11	 
		
	 ARTICLE V CONDITIONS 
	  	 	12	 
		 	SECTION 5.01	  	Conditions to Obligation of Ally Auto	  	 	12	 
		 	SECTION 5.02	  	Conditions to Obligation of the Seller	  	 	13	 
		
	 ARTICLE VI MISCELLANEOUS PROVISIONS 
	  	 	13	 
		 	SECTION 6.01	  	Amendment	  	 	13	 
		 	SECTION 6.02	  	Survival	  	 	13	 
		 	SECTION 6.03	  	Notices	  	 	13	 
		 	SECTION 6.04	  	Governing Law	  	 	13	 
		 	SECTION 6.05	  	Waivers	  	 	14	 
		 	SECTION 6.06	  	Costs and Expenses	  	 	14	 
		 	SECTION 6.07	  	Confidential Information	  	 	14	 
		 	SECTION 6.08	  	Headings	  	 	14	 
		 	SECTION 6.09	  	Counterparts	  	 	14	 
		 	SECTION 6.10	  	No Petition Covenant	  	 	14	 
		 	SECTION 6.11	  	Limitations on Rights of Others	  	 	14	 
		 	SECTION 6.12	  	Merger and Consolidation of the Seller or Ally Auto	  	 	14	 
		 	SECTION 6.13	  	Assignment	  	 	15	 
		 	SECTION 6.14	  	Official Record	  	 	15	 

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

  

  
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 THIS POOLING AGREEMENT, dated as of November 22, 2017, is between ALLY AUTO ASSETS LLC, a
Delaware limited liability company (“Ally Auto”), and ALLY BANK, a Utah chartered bank (the “Seller”). 

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

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

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

ARTICLE I 
 DEFINITIONS

 SECTION 1.01 Definitions. Certain capitalized terms used in this Agreement are defined in and shall have the respective
meanings assigned to them in Part I of Appendix A to this Agreement. All references herein to “the Agreement” or “this Agreement” are to this Pooling Agreement as it may be amended, supplemented or modified
from time to time, and all references herein to Articles and Sections are to Articles or Sections of this Agreement unless otherwise specified. The rules of construction set forth in Part II of such Appendix A shall be applicable to this
Agreement. 
 SECTION 1.02 Owner of a Receivable. For purposes of this Agreement, the “Owner” of a Receivable shall
mean Ally Auto until the sale, transfer, assignment or other conveyance of such Receivable by Ally Auto pursuant to the terms of the applicable Further Transfer Agreements, and thereafter shall mean the Issuing Entity; provided that the
Seller, the Servicer or Ally Auto, as applicable, shall be the “Owner” of any Receivable from and after the time that such Person shall acquire such Receivable, whether pursuant to Section 4.04 of this
Agreement, any provision of the Further Transfer Agreements, Section 2.07 of the Servicing Agreement or otherwise. 
  

 ARTICLE II 

PURCHASE AND SALE OF RECEIVABLES 

SECTION 2.01 Purchase and Sale of Receivables. 

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

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

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

(vi) all present and future claims, demands, causes and choses in action in respect of any or all the foregoing described in clauses
(i) through (v) above and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all the foregoing, including all proceeds of the conversion of any or all of the foregoing, voluntary or
involuntary, into cash or other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance proceeds, investment property, payment intangibles, general
intangibles, condemnation awards, rights to payment of any and every kind and other forms of obligations and receivables, instruments and other property which at any time constitute all or part of or are included in the proceeds of any of the
foregoing. 
 The property described in clauses (i) through (vi) above is referred to herein collectively as the
“Purchased Property.” 

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

SECTION 2.02 Receivables Purchase Price. In consideration for the Purchased Property, Ally Auto shall, on the Closing Date, pay to the
Seller an amount equal to the Initial Aggregate Receivables Principal Balance in respect of the Receivables and the Seller shall execute and deliver to Ally Auto an assignment in the form attached hereto as Exhibit A (the “First Step
Receivables Assignment”). The Initial Aggregate Receivables Principal Balance is equal to $559,999,919.78. A portion of the Initial Aggregate Receivables Principal Balance, equal to $497,959,162.81, shall be paid to the Seller in
immediately available funds and the balance of such purchase price shall be paid through an increase in Seller’s capital account in Ally Auto (as a result of a deemed capital contribution from Seller to Ally Auto), equal to $62,040,756.97. The
amount of the deemed capital contribution shall be duly recorded by the Seller and Ally Auto. 
 SECTION 2.03 The Closing. The sale
and purchase of the Receivables shall take place at the offices of Kirkland & Ellis LLP, 300 North LaSalle Street, Chicago, Illinois 60654, on the Closing Date at a time mutually agreeable to the Seller and Ally Auto, and will occur
simultaneously with the closing of transactions contemplated by the Further Transfer Agreements. 
 ARTICLE III 

REPRESENTATIONS AND WARRANTIES 

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

(i) General. Each Receivable: 

(1) is secured by a Financed Vehicle, was originated in the United States by the Seller or one of its subsidiaries or a Dealer for the retail
sale of a Financed Vehicle in the ordinary course of business, was fully and properly executed by the parties thereto, if not originated by the Seller, was purchased by the Seller from one of its subsidiaries or from such Dealer under an existing
Dealer Agreement, and was validly assigned by such subsidiary or such Dealer to the Seller in accordance with its terms; 

  
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 (2) has created or shall create a valid, binding and enforceable first priority security
interest in favor of the Seller in the Financed Vehicle, which security interest is assignable by the Seller to Ally Auto; 
 (3) contains
customary and enforceable provisions such as to render the rights and remedies of the holder thereof adequate for realization against the collateral of the benefits of the security; 

(4) is a Simple Interest Receivable; 

(5) provides for level monthly payments which may vary from one another by no more than $5, which shall amortize the Amount Financed by
maturity and shall yield interest at the Annual Percentage Rate; 
 (6) has an original term of not less than nine (9) monthly
payments and not greater than seventy-five (75) monthly payments and a remaining term of not less than three (3) monthly payments; and 

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

(ii) Receivables. In addition to the characteristics set forth in Section 3.01(a)(i) above, each Receivable
(1) has a first scheduled payment due date on or after May 15, 2011, (2) was originated on or after April 6, 2011, (3) as of the Cutoff Date, was not considered past due (that is, no payments due on that Receivable in
excess of $25 were more than thirty (30) days delinquent) and was not a Liquidating Receivable and (4) has an Annual Percentage Rate not greater than 19.00%. 

(b) Schedule of Receivables. The information set forth in the Schedule of Receivables is true and correct in all material respects
relating to such Receivable. 
 (c) Compliance With Law. All requirements of applicable federal, State and local laws, and regulations
thereunder, including usury laws, Utah banking laws, the Federal Truth-in-Lending Act, the Equal Credit Opportunity Act, the Fair Credit Billing Act, the Fair Credit
Reporting Act, the Fair Debt Collection Practices Act, the Federal Trade Commission Act, the Magnuson-Moss Warranty Act, the Consumer Financial Protection Bureau’s Regulations “B” and “Z,” the Servicemembers Civil Relief Act
of 2003, the Texas Consumer Credit Code, and state adaptations of the National Consumer Act and the Uniform Consumer Credit Code and other consumer credit laws and equal credit opportunity and disclosure laws, in respect of each such Receivable and
other Purchased Property, have been complied with in all material respects, and each such Receivable and the sale of the Financed Vehicle evidenced thereby complied at the time it was originated or made and now complies in all material respects with
all legal requirements of the jurisdiction in which it was originated or made. 

  
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 (d) Binding Obligation. Each such Receivable represents the genuine, legal, valid and
binding payment obligation in writing of the Obligor thereon, enforceable in all material respects by the holder thereof in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws
affecting the enforcement of creditors’ rights in general and by equity, regardless of whether such enforceability is considered in a proceeding in equity or at law. 

(e) Security Interest in Financed Vehicle. Immediately prior to the sale, transfer and assignment thereof pursuant hereto and the First
Step Receivables Assignment, each Receivable was secured by a validly perfected first priority security interest in the Financed Vehicle in favor of the Seller as secured party or all necessary and appropriate action had been commenced that would
result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of the Seller as secured party. 
 (f)
Receivables In Force. Each such Receivable has not been satisfied, subordinated or rescinded, and the Financed Vehicle securing each such Receivable has not been released from the lien of the related Receivable in whole or in part. 

(g) No Waiver. Since the Cutoff Date no provision of any such Receivable has been waived, altered or modified in any respect, except to
the extent set forth in the related Receivable File; provided that no such modification has increased the number of originally scheduled due dates or the Amount Financed of the related Receivable. 

(h) No Defenses. No right of rescission, setoff, counterclaim or defense has been asserted or threatened as indicated in the Receivable
File with respect to any such Receivable. 
 (i) Insurance. The Obligor under each such Receivable is required to maintain a
physical damage insurance policy of the type that the Seller requires in accordance with its customary underwriting standards for the purchase of motor vehicle related receivables. 

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

(k) One Original. There is only one original executed copy (or with respect to “electronic chattel paper,” one authoritative
copy) of each such Receivable. 
 (l) No Documents or Instruments. No such Receivable, or constituent part thereof, constitutes a
“negotiable instrument” or “negotiable document of title” (as such terms are used in the UCC). 

  
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 SECTION 3.02 Representations and Warranties as to the Pool of Receivables. The Seller
makes the following representations and warranties as to the pool of Receivables, on which Ally Auto relies in accepting the Receivables. Such representations and warranties speak as of the Closing Date, and shall survive the sale, transfer and
assignment of the Receivables to Ally Auto and the subsequent assignment and transfer pursuant to the Further Transfer Agreements: 
 (a)
Creation, Perfection and Priority of Security Interests. The representations and warranties regarding creation, perfection and priority of security interests in the Purchased Property, which are attached to this Agreement as Appendix
B, are true and correct to the extent that they are applicable. 
 (b) No Adverse Selection. No selection procedures believed to
be adverse to Ally Auto or to holders of the Securities issued under the Further Transfer Agreements were utilized in selecting the Receivables from those receivables of the Seller that meet the selection criteria set forth in this Agreement. 

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

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

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

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

(d) Valid Sale; Binding Obligation. This Agreement and the First Step Receivables Assignment, when duly executed and delivered, shall
constitute a valid sale, transfer and assignment of the Receivables, in each case, enforceable against creditors of and purchasers from the Seller; and this Agreement together with the First Step Receivables Assignment, when duly executed and
delivered, shall constitute a legal, valid and binding obligation of the Seller enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, receivership, conservatorship, insolvency, reorganization or other
similar laws affecting the enforcement of creditors’ rights in general and by general principles of equity, regardless of whether such enforceability is considered in a proceeding in equity or at law; 

(e) No Violation. The consummation of the transactions contemplated by this Agreement and the First Step Receivables Assignment and the
fulfillment of the terms of this Agreement and the First Step Receivables Assignment shall not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under, the
articles of incorporation or bylaws (or similar organizational documents) of the Seller, or any indenture, agreement, mortgage, deed of trust or other instrument to which the Seller is a party or by which it is bound, or result in the creation or
imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement, mortgage, deed of trust or other instrument, other than this Agreement and the First Step Receivables Assignment or violate any law or, to the
best of the Seller’s knowledge, any order, rule or regulation applicable to the Seller of any court or of any federal or State regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Seller or
any of its properties; and 
 (f) No Proceedings. To the Seller’s knowledge, there are no proceedings or investigations pending,
or threatened, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over the Seller or its properties (A) asserting the invalidity of this Agreement or the First Step
Receivables Assignment, (B) seeking to prevent the consummation of any of the transactions contemplated by this Agreement or the First Step Receivables Assignment, or (C) seeking any determination or ruling that might materially and
adversely affect the performance by the Seller of its obligations under, or the validity or enforceability of, this Agreement and the First Step Receivables Assignment. 

SECTION 3.04 Representations and Warranties of Ally Auto. Ally Auto hereby represents and warrants to the Seller as of the Closing
Date: 
 (a) Organization and Good Standing. Ally Auto has been duly formed and is validly existing as an entity in good standing
under the laws of the State of Delaware, with power and authority to own its properties and to conduct its business as such properties are presently owned and such business is presently conducted; 

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

(c) Power and Authority. Ally Auto has the power and authority to execute and deliver this Agreement and the First Step Receivables
Assignment and to carry out its terms; Ally Auto had at all relevant times, and now has, power, authority and legal right to acquire and own the Receivables and the execution, delivery and performance of this Agreement and the First Step Receivables
Assignment have been duly authorized by Ally Auto by all necessary limited liability company action; 
 (d) No Violation. The
consummation of the transactions contemplated by this Agreement and the First Step Receivables Assignment and the fulfillment of the terms of this Agreement and the First Step Receivables Assignment shall not conflict with, result in any breach of
any of the terms and provisions of or constitute (with or without notice or lapse of time) a default under, the certificate of formation or limited liability company agreement of Ally Auto, or any indenture, agreement, mortgage, deed of trust or
other instrument to which Ally Auto is a party or by which it is bound, or result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement or other instrument, other than any Further
Transfer Agreement or violate any law or, to the best of Ally Auto’s knowledge, any order, rule or regulation applicable to Ally Auto of any court or of any federal or State regulatory body, administrative agency or other governmental
instrumentality having jurisdiction over Ally Auto or any of its properties; and 
 (e) No Proceedings. To Ally Auto’s knowledge,
there are no proceedings or investigations pending, or threatened, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over Ally Auto or its properties (i) asserting the
invalidity of this Agreement and the First Step Receivables Assignment, or (ii) seeking any determination or ruling that might materially and adversely affect the performance by Ally Auto of its obligations under, or the validity or
enforceability of, this Agreement and the First Step Receivables Assignment. 
 ARTICLE IV 

ADDITIONAL AGREEMENTS 

SECTION 4.01 Conflicts With Further Transfer Agreements. To the extent that any provision of Sections 4.02 through 4.04
of this Agreement conflicts with any provision of the Further Transfer Agreements, the Further Transfer Agreements shall govern. 
 SECTION
4.02 Protection of Title. 
 (a) Filings. The Seller shall prepare or authorize, as applicable, and file such financing
statements or amendments to financing statements and cause to be authorized or prepared, as applicable, and filed such continuation and other statements, all in such manner and in such places as may be required by law fully to preserve, maintain and
protect the interest of Ally Auto under this Agreement and the First Step Receivables Assignment in the Receivables 

  
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and the other Purchased Property and in the proceeds thereof. The Seller shall deliver (or cause to be delivered) to Ally Auto file-stamped copies of, or filing receipts for, any document filed
as provided above, as soon as available following such filing, and the Seller hereby authorizes Ally Auto and its assigns to file all such financing statements without its signature. 

(b) Name Change. The Seller shall not change its State of organization or its name, identity or entity structure in any manner that
would, could or might make any financing statement or continuation statement filed by the Seller, Ally Auto or Ally Auto’s assigns in accordance with Section 4.02(a) seriously misleading within the meaning of the UCC,
unless it shall give Ally Auto written notice thereof within ten (10) days of such change. 
 (c) Executive Office; Maintenance of
Offices. The Seller shall give Ally Auto written notice within ten (10) days of any relocation of its principal executive office if, as a result of such relocation, the applicable provisions of the UCC would require the filing of any
amendment of any previously filed financing or continuation statement or of any new financing statement. The Seller shall at all times maintain each office from which it originates Receivables and its principal executive office within the United
States of America. 
 (d) New Debtor. In the event that the Seller shall change the jurisdiction in which it is formed or otherwise
enter into any transaction which would result in a “new debtor” (as defined in the UCC) succeeding to the obligations of the Seller hereunder, the Seller shall comply fully with the obligations of Section 4.02(a).

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

SECTION 4.04 Repurchase or Substitution of Receivables. 

(a) Repurchase or Substitution Events. By its execution of the Further Transfer Agreements to which it is a party, the Seller shall
acknowledge the assignment by Ally Auto of such of its right, title and interest in, to and under this Agreement and the First Step Receivables Assignment to the Issuing Entity as shall be provided in the Further Transfer Agreements. The Seller
hereby covenants and agrees with Ally Auto for the benefit of Ally Auto and the Interested Parties that in the event of a breach of any of the Seller’s representations and warranties contained in Section 3.01 or
Section 3.02 hereof with respect to any Receivable (a “Repurchase or Substitution Event”), the Seller shall (a) if such breach is discovered on or prior to the second anniversary of the Closing Date
and if the aggregate Principal Balance of the Substitute Receivables substituted since the Closing Date is less than or equal to 10% of the Initial Aggregate Receivables Principal Balance, the Seller shall substitute a Substitute Receivable in
exchange for such Warranty Receivable by delivering a First Step Receivables Assignment with respect to such Substitute Receivable on the related Substitution Date or (b) if such breach is discovered after the second anniversary of the Closing
Date or if the Seller has 

  
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previously sold Substitute Receivables to Ally Auto in an amount greater than 10% of the Initial Aggregate Receivables Principal Balance, the Seller shall, if required by the Further Transfer
Agreements, repurchase such Warranty Receivable from the Issuing Entity (if the Issuing Entity is then the Owner of such Warranty Receivable) on the date and for the amount specified in the Further Transfer Agreements, in each case, without further
notice from Ally Auto hereunder. Upon the occurrence of a Repurchase or Substitution Event with respect to a Warranty Receivable for which Ally Auto is the Owner, the Seller agrees to repurchase or substitute such Warranty Receivable from Ally Auto
for an amount and upon the same terms as the Seller would be obligated to repurchase or substitute such Warranty Receivable from the Issuing Entity if the Issuing Entity was then the Owner thereof, and upon payment of the Warranty Payment, the
Seller shall have such rights with respect to such Warranty Receivable as if the Seller had purchased or substituted such Warranty Receivable from the Issuing Entity as the Owner thereof. It is understood and agreed that the obligation of the Seller
to repurchase or substitute any Warranty Receivable as to which a breach has occurred and is continuing shall, if such obligation is fulfilled, constitute the sole remedy against the Seller for such breach available to Ally Auto or any Interested
Party. 
 (b) Identification of Substitute Receivables. The Seller shall select the Substitute Receivable within the portfolio of
receivables owned by the Seller by identifying all of the receivables that meet the criteria set forth in each of the following criteria and then removing receivables that do not satisfy the criteria specified in each successive clause in the order
of priority set forth below until only one receivable is available: 
 (i) first, the Substitute Receivable must satisfy each of the
criteria set forth in the definition of “Substitute Receivable”; 
 (ii) second, the Substitute Receivable must be the receivable
owned by the Seller that has a Principal Balance closest to the Principal Balance of the related Warranty Receivable; 
 (iii) third, the
Substitute Receivable must be the receivable owned by the Seller that has an Annual Percentage Rate closest to the Annual Percentage Rate of the related Warranty Receivable; 

(iv) fourth, the Substitute Receivable must be the receivable owned by the Seller that has a remaining term closest to the remaining term of
the Warranty Receivable; 
 (v) fifth, the Substitute Receivable must be the receivable owned by the Seller that has an accompanying FICO
score closest to the FICO score of the Obligor related to the Warranty Receivable; and 
 (vi) sixth, the Substitute Receivable must be the
receivable owned by the Seller that is secured by the related Financed Vehicle that is closest to the Financed Vehicle that secures the related Warranty Receivable, with the characteristics determined in the following order of priority: 

  
 10 

 (1) the make of the related Financed Vehicle; 

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

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

(4) the mileage of the the related Financed Vehicle to the nearest 10th of a mile. 

(c) Repurchase Dispute Resolution. The Seller hereby agrees to cooperate with the Interested Parties in any ADR Proceeding commenced
pursuant to the provisions set forth in the Further Transfer Agreements. Ally Auto hereby agrees to provide the Seller with the opportunity to exercise any rights of Ally Auto pursuant to the Further Transfer Agreements with respect to an ADR
Proceeding to the extent a dispute relates to the representations and warranties of the Seller contained in Section 3.01 or Section 3.02. 

SECTION 4.05 Indemnification. The Seller shall indemnify Ally Auto for any liability as a result of the failure of a Receivable to be
originated in compliance with all requirements of law. This indemnity obligation shall be in addition to any obligation that the Seller may otherwise have. 

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

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

SECTION 4.09 Asset Representations Review. 

(a) The Seller shall (i) at all times while any Public Notes remain Outstanding, ensure that an Asset Representations Reviewer is
appointed, (ii) cooperate with the Asset Representations Reviewer in creating procedures for a review of the representations and warranties set forth in Section 3.01, (iii) provide the Asset Representations Reviewer
with the Asset Representations Review Notice and (iv) provide the Asset Representations Reviewer with reasonable access to the Seller’s offices and information databases upon the initiation of an Asset Representations Review as set forth
in Section 5.17(d) of the Indenture. 

  
 11 

 (b) Upon receipt of a final report from the Asset Representations Reviewer, the Seller shall
review the findings of the Asset Representations Reviewer and determine whether a breach of a representation or warranty set forth in Section 3.01 has occurred with respect to any Receivable tested by the Asset
Representations Reviewer and whether a repurchase or substitution of such Receivable is required pursuant to Section 4.04(a). Upon the written request of a Noteholder or Note Owner, the Seller shall forward the final report
from the Asset Representations Reviewer to such Noteholder or Note Owner. 
 ARTICLE V 

CONDITIONS 
 SECTION 5.01
Conditions to Obligation of Ally Auto. The obligation of Ally Auto to purchase the Receivables hereunder and pursuant to the First Step Receivables Assignment is subject to the satisfaction of the following conditions: 

(a) Representations and Warranties True. The representations and warranties of the Seller hereunder shall be true and correct at the
time of the Closing Date, and the Seller shall have performed all obligations to be performed by it hereunder on or prior to the Closing Date. 

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

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

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

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

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

  
 12 

 (e) Other Transactions. The transactions contemplated by the Further Transfer Agreements
shall be consummated to the extent that such transactions are intended to be substantially contemporaneous with the transactions hereunder. 

(f) Asset Representations Reviewer. The Asset Representations Reviewer shall have been appointed and shall have entered into the Asset
Representations Review Agreement. 
 SECTION 5.02 Conditions to Obligation of the Seller. The obligation of the Seller to sell the
Receivables to Ally Auto hereunder or pursuant to the First Step Receivables Assignment is subject to the satisfaction of the following conditions: 

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

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

MISCELLANEOUS PROVISIONS 

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

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

SECTION 6.03 Notices. All demands, notices and communications upon or to the Seller or Ally Auto under this Agreement shall be
delivered as specified in Part III of Appendix A to this Agreement. 
 SECTION 6.04 Governing Law. THIS AGREEMENT
AND THE FIRST STEP RECEIVABLES ASSIGNMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS THEREOF OR OF ANY OTHER JURISDICTION OTHER THAN SECTION
5-1401 AND SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES UNDER THIS AGREEMENT SHALL BE DETERMINED IN
ACCORDANCE WITH SUCH LAWS. 

  
 13 

 SECTION 6.05 Waivers. No failure or delay on the part of Ally Auto in exercising any
power, right or remedy under this Agreement or the First Step Receivables Assignment shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or remedy preclude any other or further exercise thereof or the
exercise of any other power, right or remedy. 
 SECTION 6.06 Costs and Expenses. The Seller agrees to pay all reasonable out-of-pocket costs and expenses of Ally Auto, including fees and expenses of counsel, in connection with the perfection as against third parties of Ally Auto’s right,
title and interest in, to and under the Receivables and the enforcement of any obligation of the Seller hereunder. 
 SECTION 6.07
Confidential Information. Ally Auto agrees that it shall neither use nor disclose to any person the names and addresses of the Obligors, except in connection with the enforcement of Ally Auto’s rights hereunder, under the Receivables,
under the Further Transfer Agreements or as required by law. 
 SECTION 6.08 Headings. The headings of the various Articles and
Sections herein are for convenience of reference only and shall not define or limit any of the terms or provisions hereof. 
 SECTION 6.09
Counterparts. This Agreement may be executed in two or more counterparts and by different parties on separate counterparts, each of which shall be an original, but all of which together shall constitute one and the same instrument. 

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

SECTION 6.11 Limitations on Rights of Others. The provisions of this Agreement and the First Step Receivables Assignment are solely for
the benefit of the Seller and Ally Auto and, to the extent expressly provided herein, the Interested Parties, and nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right,
remedy or claim in, under or in respect of this Agreement or any covenants, conditions or provisions contained herein. 
 SECTION 6.12
Merger and Consolidation of the Seller or Ally Auto. Any corporation, limited liability company or other entity (i) into which either of the Seller or Ally Auto may be merged or consolidated, (ii) resulting from any merger or
consolidation to which either of the Seller or Ally Auto shall be a party, (iii) succeeding to the business of either of the Seller or Ally Auto or (iv) 25% or more of the voting stock (or, if not a corporation, other voting interests) of which
is owned, directly or indirectly, by General Motors or Ally Financial, which 

  
 14 

 
corporation, limited liability company or other entity in any of the foregoing cases executes an agreement of assumption to perform every obligation of the Seller or Ally Auto (as applicable)
under this Agreement and the other Basic Documents shall be the successor to the Seller or Ally Auto (as applicable) under this Agreement and the other Basic Documents without the execution or filing of any document or any further act on the part of
any of the parties to this Agreement. 
 SECTION 6.13 Assignment. Notwithstanding anything to the contrary contained in this
Agreement, this Agreement may be assigned by the Seller or Ally Auto without the consent of any other Person to a corporation, limited liability company or other entity that is a successor (by merger, consolidation or purchase of assets) to the
Seller or Ally Auto (as applicable), or 25% or more of the voting interests of which is owned, directly or indirectly, by General Motors or by Ally Financial, provided that the assignee of Ally Auto executes an agreement of assumption, as provided
in Section 3.03(a) of the Trust Sale Agreement. 
 SECTION 6.14 Official Record. This Agreement is, and the Seller agrees to
maintain this Agreement from and after the date hereof as, an official record (within the meaning of Section 13(e) of the Federal Deposit Insurance Act) of the Seller. 

*    *    *    *    * 

 

  
 15 

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

			
	ALLY BANK
		
	By:	 	 /s/ R.C. Farris

	Name:	 	R.C. Farris
	Title:	 	Assistant Treasurer
	
	ALLY AUTO ASSETS LLC
		
	By:	 	 /s/ Niraj Kapadia

	Name:	 	Niraj Kapadia
	Title:	 	Vice President

 Pooling Agreement (AART 2017-5) 

 

 EXHIBIT A 

FORM OF 
 FIRST STEP RECEIVABLES
ASSIGNMENT 
 PURSUANT TO THE POOLING AGREEMENT 

For value received, in accordance with the Pooling Agreement, dated as of November 22, 2017 (the “Pooling Agreement”),
between Ally Bank, a Utah chartered bank (the “Seller”), and Ally Auto Assets LLC, a Delaware limited liability company (“Ally Auto”), the Seller does hereby sell, assign, transfer and otherwise convey unto Ally
Auto, without recourse, as of [November 22, 2017], (i) all right, title and interest of the Seller in, to and under the Receivables listed on the Schedule of Receivables attached as Schedule A hereto and all monies received thereon on
and after the [Substitute] Cutoff Date, exclusive of any amounts allocable to the premium for physical damage collateral protection insurance required by the Seller or the Servicer covering any related Financed Vehicle; (ii) the interest of the
Seller in the security interests in the Financed Vehicles granted by Obligors pursuant to the Receivables and, to the extent permitted by law, any accessions thereto; (iii) the interest of the Seller in any proceeds from claims on any physical
damage, credit life, credit disability or other insurance policies covering the related Financed Vehicles or Obligors; (iv) the interest of the Seller in any proceeds from recourse against Dealers on the Receivables; (v) all right, title
and interest of the Seller in, to and under the First Step Receivables Assignment; and (vi) all present and future claims, demands, causes and choses in action in respect of any or all the foregoing described in clauses (i), (ii), (iii), (iv)
and (v) above and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all the foregoing, including all proceeds of the conversion of any or all of the foregoing, voluntary or involuntary, into cash
or other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance proceeds, investment property, payment intangibles, general intangibles, condemnation awards,
rights to payment of any and every kind and other forms of obligations and receivables, instruments and other property which at any time constitute all or part of or are included in the proceeds of any of the foregoing. 

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

  
 Ex. A-1 

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

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

*    *    *    *    * 

  
 Ex. A-2 

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

			
	ALLY BANK
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 Ex. A-3 

 SCHEDULE A 

SCHEDULE OF RECEIVABLES 

The Schedule of Receivables is 

on file at the offices of: 
  

	1.	The Indenture Trustee 

  

	2.	The Owner Trustee 

  

	3.	The Servicer 

  

	4.	The Seller 

  

	5.	Ally Auto Assets LLC 

  
 Sch. A 

 APPENDIX A 

Part I 
 For ease of reference,
capitalized terms defined herein have been consolidated with and are contained in Part I of Appendix A to the Servicing Agreement of even date herewith among Ally Bank, Ally Auto Assets LLC and Ally Auto Receivables Trust 2017-5, as amended and supplemented from time to time. 
 Part II 

For ease of reference, the rules of construction have been consolidated with and are contained in Part II of Appendix A to the Servicing
Agreement of even date herewith among Ally Bank, Ally Auto Assets LLC and Ally Auto Receivables Trust 2017-5, as amended and supplemented from time to time. 

Part III 
 For ease of reference,
the notice addresses and procedures have been consolidated with and are contained in Appendix B to the Servicing Agreement of even date herewith among Ally Bank, Ally Auto Assets LLC and Ally Auto Receivables Trust 2017-5, as amended and supplemented from time to time. 

  
 App. A 

 APPENDIX B 

Additional Representations and Warranties 
  

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

 

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

 

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

  

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

 

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

 

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

  

	7.	 The Custodian has in its possession or with third party vendors all original copies (or, with respect to
Receivables that are “electronic chattel paper,” authoritative copies) of the Receivables Files and other documents that constitute or evidence the Receivables and the Purchased Property. The Receivables Files and other documents that
constitute or evidence the Receivables that are “tangible chattel paper” do not have any marks or 

  
 App. B-1 

	 	
notations indicating that they have been pledged, assigned or otherwise conveyed to any Person other than Ally Auto. All financing statements filed or to be filed against the Seller in favor of
Ally Auto in connection herewith describing the Receivables contain a statement to the following effect: “A purchase of or security interest in any collateral described in this financing statement will violate the rights of Ally Auto.”

  
 App. B-2Exhibit

EXECUTION VERSION

AMENDMENT No. 1, dated as of November 22, 2017 (this “Amendment”), to Second Amended and Restated Credit Agreement, dated as of February 15, 2017  (as amended, restated, supplemented or otherwise modified, refinanced or replaced from time to time, the “Credit Agreement”), among DESERT NEWCO, LLC, a Delaware limited liability company (“Holdings”), GO DADDY OPERATING COMPANY, LLC, a Delaware limited liability company (the “Existing Borrower”), GD FINANCE CO, INC., a Delaware corporation (the “FinCo Borrower” and, together with the Existing Borrower, the “Borrowers”) the lending institutions from time to time parties thereto (each a “Lender” and, collectively, together with the Swingline Lender, the “Lenders”), BARCLAYS BANK PLC, as, the Administrative Agent, the Collateral Agent, the Swingline Lender and Letter of Credit Issuer. Capitalized terms used but not defined herein having the meaning provided in the Credit Agreement (as amended hereby).
WHEREAS, Section 13.1 of the Credit Agreement permits amendment with the written consent of the Administrative Agent, Holdings, the Borrowers and the Lenders providing the relevant Replacement Term Loans to permit the refinancing of all outstanding Term Loans of any Class with a replacement term loan tranche (“Replacement Term Loans”) thereunder;
WHEREAS, the Borrowers desire to create a new tranche of term loans consisting of Tranche B-1 Term Loans (as defined in Section 1 hereto) pursuant to amendments authorized by Section 13.1 of the Credit Agreement which Tranche B-1 Term Loans shall, except with respect to the definition of “Applicable Margin” and Section 5.1(b), have identical terms as the Initial Term Loans and Delayed Draw Term Loans (collectively, “Existing Term Loans”) and shall be in a like principal amount as the outstanding Existing Term Loans and the proceeds of which will be used to refinance all of the Existing Term Loans all as more fully set forth in Section 1;
WHEREAS, upon the effectiveness of this Amendment, each Lender holding Existing Term Loans (a “Existing Term Loan Lender”) that shall have executed and delivered a consent to this Amendment substantially in the form of Exhibit A hereto (a “Consent to Amendment No. 1”) under the “Cashless Settlement Option” (each, a “Cashless Option Tranche B-1 Lender”) shall be deemed to have exchanged all of its Existing Term Loans (which Existing Term Loans shall thereafter no longer be deemed to be outstanding) for Tranche B-1 Term Loans in the same aggregate principal amount as such Existing Term Loan Lender’s Existing Term Loans (or such lesser amount as determined by the Amendment No. 1 Arrangers (as defined below)), and such Existing Term Loan Lender shall thereafter become a Tranche B-1 Term Loan Lender;
WHEREAS, upon the effectiveness of this Amendment, each Additional Tranche B-1 Term Loan Lender will make Additional Tranche B-1 Term Loans to the Borrowers in Dollars in the amount set forth next to its name on Schedule I hereto (the “Allocation Schedule”), the proceeds of which will be used by the Borrowers to repay in full the outstanding principal amount of Existing Term Loans that are not exchanged for Tranche B-1 Term Loans, as well as prepay Existing Term Loans from Existing Term Loan Lenders that execute and deliver a Consent to Amendment No. 1 under the “Post-Closing Settlement Option” (each, a “Post-Closing Option Lender”); and the Borrowers shall pay to each Existing Term Loan Lender all accrued and unpaid interest on the Existing Term Loans to, but not including, the date of effectiveness of this Amendment; and
WHEREAS, Deutsche Bank Securities Inc., KKR Capital Markets LLC, Barclays Bank PLC, Morgan Stanley & Co. LLC, RBC Capital Markets, JPMorgan Chase Bank, N.A., Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and SG Americas Securities, LLC are joint lead arrangers and joint bookrunners for Amendment No. 1 and the Tranche B-1 Term Loans (collectively, the “Amendment No. 1 Arrangers”);
NOW, THEREFORE, in consideration of the premises and covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:
Section 1.Amendments.  The Credit Agreement is hereby amended effective as of the Amendment No. 1 Effective Date as follows:
(a)    The following defined terms shall be added to Section 1.1 of the Credit Agreement:

“Additional Tranche B-1 Term Loan” shall mean a Term Loan in Dollars that is made pursuant to Section 2.1(f)(ii) on the Amendment No. 1 Effective Date.
“Additional Tranche B-1 Term Loan Commitment” shall mean, with respect to an Additional Tranche B-1 Term Loan Lender, the commitment of such Additional Tranche B-1 Term Loan Lender to make Additional Tranche B-1 Term Loans on the Amendment No. 1 Effective Date, in an amount set forth on the Allocation Schedule.  The aggregate amount of the Additional Tranche B-1 Term Loan Commitments shall equal the outstanding principal amount of Existing Term Loans of Non-Consenting Existing Term Loan Lenders and Existing Term Loans of Post-Closing Option Lenders.
“Additional Tranche B-1 Term Loan Lender” shall mean a Person with an Additional Tranche B-1 Term Loan Commitment on the Amendment No. 1 Effective Date.
“Allocation Schedule” shall mean the Additional Tranche B-1 Term Loans to the Borrowers in Dollars made by each Additional Tranche B-1 Term Loan Lender in the amount set forth next to its name on Schedule I hereto.
“Amendment No. 1” shall mean Amendment No. 1 to this Agreement dated as of the Amendment No. 1 Effective Date.
“Amendment No. 1 Arranger” shall have the meaning provided in Amendment No. 1.
“Amendment No. 1 Effective Date” shall mean November 22, 2017, the first Business Day on which all conditions precedent set forth in Section 3 of Amendment No. 1 are satisfied.
“Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”.
 “Cashless Option Lender” shall mean each Existing Term Loan Lender that has executed and delivered a Consent to Amendment No. 1 under the “Cashless Settlement Option.”
“Consent to Amendment No. 1” shall mean a consent to Amendment No. 1 substantially in the form of Exhibit A attached thereto.
“Existing Term Loan” shall have the meaning provided in Amendment No. 1
“Existing Term Loan Lender” shall have the meaning provided in Amendment No. 1.
“Non-Consenting Existing Term Loan Lender” shall mean each Existing Term Loan Lender that did not execute and deliver a Consent to Amendment No. 1 on or prior to the Amendment No. 1 Effective Date.
“Post-Closing Option Lender” shall mean each Existing Term Loan Lender that has executed and delivered a Consent to Amendment No. 1 under the “Post-Closing Settlement Option.”
“PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.

“Tranche B-1 Term Loan” shall mean, collectively, (i) a Term Loan in Dollars made pursuant to Section 2.1(f)(i) on the Amendment No. 1 Effective Date and (ii) each Additional Tranche B-1 Term Loan.
“Tranche B-1 Term Loan Commitment” shall mean, with respect to a Cashless Option Lender, the agreement of such Cashless Option Lender to exchange its Existing Term Loans for an equal aggregate 

principal amount of Tranche B-1 Term Loans (or such lesser amount as determined by the Amendment No. 1 Arrangers) on the Amendment No. 1 Effective Date, as evidenced by such Existing Term Loan Lender executing and delivering Amendment No. 1.  
“Tranche B-1 Term Loan Facility” shall mean the Credit Facility consisting of the Tranche B-1 Term Loan Commitments and the Additional Tranche B-1 Term Loan Commitments and the Tranche B-1 Term Loans.
(b)    “Tranche B-1 Term Loan Lender” shall mean, collectively, (i) each Existing Term Loan Lender that executes and delivers a Consent to Amendment No. 1 on or prior to the Amendment No. 1 Effective Date and (ii) each Additional Tranche B-1 Term Loan Lender.
(c)    Section 1.1 of the Credit Agreement is hereby amended by deleting “(1) for LIBOR Loans that are Initial Term Loans and Delayed Draw Term Loans, 2.50% and (2) for ABR Loans that are Initial Term Loans and Delayed Draw Term Loans, 1.50%” from clause (a) of the definition of “Applicable Margin” contained therein and replacing it with the following:
“(1) for LIBOR Loans that are Tranche B-1 Term Loans, 2.25% and (2) for ABR Loans that are Tranche B-1 Term Loans, 1.25%”; provided that on or after Amendment No. 1 Effective Date, the Applicable Margin with respect to this clause (a) shall be based on the Borrower’s public corporate credit rating from Moody’s (the “Rating”) in accordance with the pricing grid set forth below:

	
				
	Level
	Rating
	LIBOR Loans
	ABR Loans

	I
	Ba2 
or better
	2.00%
	1.00%

	II
	Rating which is  
Ba3 or lower
	2.25%
	1.25%

Any change in the Applicable Margin with respect to this clause (a) resulting from a publicly announced change in the Rating shall be effective during the period commencing on the date of the public announcement thereof and ending on the date immediately preceding the effective date of the next such change.  In the event there is no Rating from Moody’s or an Event of Default has occurred (each a “Rating Event”), the Applicable Margin with respect to this clause (a) corresponding to Level II shall apply as of the date of such Rating Event; provided that such Applicable Margin shall continue to so apply to but excluding the date on which such Rating Event shall cease to be continuing (and thereafter, in each case, the pricing level otherwise determined in accordance with this clause (a) shall apply).”

(d)    Section 2.1 of the Credit Agreement is hereby amended by adding the following clause (f) to such Section:
“(f)    (i)  Subject to and upon the terms and conditions herein set forth, each Cashless Option Lender severally agrees to exchange its Existing Term Loan for a like principal amount of Tranche B-1 Term Loans (or such lesser amount as determined by the Amendment No. 1 Arrangers) on the Amendment No. 1 Effective Date.  Notwithstanding anything to the contrary contained herein, the Interest Period then in effect (and the LIBOR Rate thereunder) prior to any exchange of Existing Term Loans for Tranche B-1 Term Loans shall remain in effect following any such exchange.

(ii)  Subject to and upon the terms and conditions herein set forth, each Additional Tranche B-1 Term Loan Lender severally agrees to make Additional Tranche B-1 Term Loans in Dollars to the Borrowers on the Amendment No. 1 Effective Date in a principal amount not to exceed its Additional Tranche B-1 Term Loan Commitment on the Amendment No.1 Effective Date.  The Borrowers shall prepay all Existing Term Loans of Non-Consenting Existing Term Loan Lenders and Post-Closing Option Lenders with the gross proceeds of the Additional Tranche B-1 Term Loans.  The Interest Period then in effect (and the LIBOR Rate thereunder) for the Existing Term Loans of Non-Consenting Existing Term Loan Lenders and Post-Closing Lenders shall remain in effect for the Additional Tranche B-1 Term Loans following any such repayment.
(iii)  The Borrowers shall pay all accrued and unpaid interest on the Existing Term Loans to the Existing Term Loan Lenders to, but not including, the Amendment No. 1 Effective Date on such Amendment No. 1 Effective Date.
(iv)  The Tranche B-1 Term Loans shall have the same terms as the Existing Term Loans as set forth in the Credit Agreement and Credit Documents, except as modified by Amendment No. 1.  For avoidance of doubt, the Tranche B-1 Term Loans, except as set forth in Amendment No. 1, shall have the same rights and obligations under this Agreement and the other Credit Documents as the Existing Term Loans.”
(e)    Section 2.5(b) of the Credit Agreement is hereby amended by deleting the references to “the Closing Date” and contained therein and replacing it with “the Amendment No. 1 Effective Date”.
(f)    Section 2.5(b) of the Credit Agreement is hereby amended by deleting the last sentence thereof.
(g)    Section 5.1(b) of the Credit Agreement is hereby amended by deleting the section in its entirety and replacing it with the following:
“(b)    In the event that, on or prior to the six-month anniversary of the Amendment No. 1 Effective Date, the Borrowers (i) make any prepayment of Tranche B-1 Term Loans in connection with any Repricing Transaction the primary purpose of which is to decrease the Effective Yield on such Tranche B-1 Term Loans or (ii) effect any amendment of this Agreement resulting in a Repricing Transaction the primary purpose of which is to decrease the Effective Yield on the Tranche B-1 Term Loans, the Borrowers shall pay to the Administrative Agent, for the ratable account of each of the applicable Lenders, (x) in the case of clause (i), a prepayment premium of 1.00% of the principal amount of the Tranche B-1 Term Loans being prepaid in connection with such Repricing Transaction and (y) in the case of clause (ii), an amount equal to 1.00% of the aggregate amount of the applicable Tranche B-1 Term Loans outstanding immediately prior to such amendment that are subject to an effective pricing reduction pursuant to such Repricing Transaction.”
(h)    Section 5.2 of the Credit Agreement is hereby amended by adding to the end of such Section new clause (g) as follows:
“(g)    Notwithstanding anything to the contrary contained in Section 5.1 and this Section 5.2, 100% of the proceeds of all Additional Tranche B-1 Term Loans shall be used to repay Existing Term Loans of the Non-Consenting Existing Term Loan Lenders and Post-Closing Option Lenders.”
(i)    Section 9.13(a) of the Credit Agreement is hereby amended by adding to the end of such section a new sentence as follows:

“(a)     Any proceeds of the Tranche B-1 Term Loans shall be applied on the Amendment No. 1 Effective Date to prepay Existing Term Loans of Non-Consenting Lenders and Post-Closing Option Lenders in full.”
(j)    Section 12 of the Credit Agreement is hereby amended by adding a new Section 12.15 as follows:
“(a) Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, the Agents and Amendment No. 1 Arrangers and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrowers or any other Loan Party, that at least one of the following is and will be true: 
(i) such Lender is not using “plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans in connection with the Loans, the Letters of Credit or the Commitments,
(ii) the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement,
(iii) (A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, or
(iv) such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and such Lender.
(b) In addition, (I) unless sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or (II) if such sub-clause (i) is not true with respect to a Lender and such Lender has not provided another representation, warranty and covenant as provided in sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, the Agents and the Amendment No. 1 Arrangers and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrowers or any other Loan Party, that:
(i) none of the Administrative Agent, the Agents or any of the Amendment No. 1 Arrangers or any of their respective Affiliates is a fiduciary with respect to the assets of such Lender (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Credit Document or any documents related hereto or thereto),

(ii) the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is independent (within the meaning of 29 CFR § 2510.3-21) and is a bank, an insurance carrier, an investment adviser, a broker-dealer or other person that holds, or has under management or control, total assets of at least $50 million, in each case as described in 29 CFR § 2510.3-21(c)(1)(i)(A)-(E),
(iii) the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment strategies (including in respect of the Obligations),
(iv) the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is a fiduciary under ERISA or the Code, or both, with respect to the Loans, the Letters of Credit, the Commitments and this Agreement and is responsible for exercising independent judgment in evaluating the transactions hereunder, and
(v) no fee or other compensation is being paid directly to the Administrative Agent, the Agents or any of the Amendment No. 1 Arrangers or any of their respective Affiliates for investment advice (as opposed to other services) in connection with the Loans, the Letters of Credit, the Commitments or this Agreement.
(c) The Administrative Agent, the Agents and the Amendment No. 1 Arrangers hereby inform the Lenders that each such Person is not undertaking to provide impartial investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the transactions contemplated hereby in that such Person or an Affiliate thereof (i) may receive interest or other payments with respect to the Loans, the Letters of Credit, the Commitments and this Agreement, (ii) may recognize a gain if it extended the Loans, the Letters of Credit or the Commitments for an amount less than the amount being paid for an interest in the Loans, the Letters of Credit or the Commitments by such Lender or (iii) may receive fees or other payments in connection with the transactions contemplated hereby, the Credit Documents or otherwise, including structuring fees, commitment fees, arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent fees, utilization fees, minimum usage fees, letter of credit fees, fronting fees, deal-away or alternate transaction fees, amendment fees, processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or fees similar to the foregoing.”
(k)    All references to “Initial Term Loan”, “Initial Term Loan Commitment”, “Initial Term Loan Lender”, “Initial Term Loan Maturity Date”, “Initial Term Loan Repayment Amount”, “Initial Term Loan Repayment Date”, “Required Initial Term Loan Lenders” and “Total Initial Term Loan Commitment” (except any such references appearing in the preamble to the Credit Agreement, and Section 2.1(a) and  9.13(a) of the Credit Agreement) in the Credit Agreement and the Credit Documents shall be deemed to be references to “Tranche B-1 Term Loan”, “Tranche B-1 Term Loan Commitment”, “Tranche B-1 Term Loan Lender”, “Tranche B-1 Term Loan Maturity Date”, “Tranche B-1 Repayment Amount”, “Tranche B-1 Repayment Date”, “Required Tranche B-1 Term Loan Lenders” and “Total Tranche B-1 Term Loan Commitment”, respectively.
(l)    All references to “Delayed Draw Term Loan”, “Delayed Draw Term Loan Commitment” and “Delayed Term Loan Maturity Date” (except any such references appearing in the preamble to the Credit Agreement, and Section 2.1(a) and  9.13(a) of the Credit Agreement) in the Credit Agreement and the Credit Documents shall be deemed to be references to “Tranche B-1 Term Loan”, “Tranche B-1 Term Loan Commitment” and “Tranche B-1 Term Loan Maturity Date”, respectively.
(m)    (a) The Additional Tranche B-1 Term Loan Commitments shall not be treated as New Term Loan Commitments as such term is defined in Section 2.14(a) of the Credit Agreement; (b) the Additional 

Tranche B-1 Term Loans shall not be treated as New Term Loans as such term is defined in Section 2.14(c) of the Credit Agreement; (c) the Additional Tranche B-1 Term Loan Lenders shall not be treated as New Term Loan Lenders as such term is defined in Section 2.14(c) of the Credit Agreement; and (d) clauses (k) and (l) of Section 1 of this Amendment shall not apply where the context clearly requires otherwise.
(n)    The Lenders party hereto (or party to a Consent to Amendment No. 1) waive the payment of any breakage loss or expense under Section 2.11 of the Credit Agreement in connection with the repayment of Existing Term Loans on the Amendment No. 1 Effective Date.
Section 2.    Representations and Warranties.  Each Credit Party represents and warrants to the Lenders as of the Amendment No. 1 Effective Date that:
(a)    Each Credit Party has taken all necessary organizational action to authorize the execution and delivery of this Amendment.
(b)    Each Credit Party has duly executed and delivered this Amendment and this Amendment constitutes the legal, valid and binding obligation of such Credit Party enforceable in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditors’ rights generally and subject to general principles of equity.
(c)    The execution, delivery and performance by each Credit Party of this Amendment, will not (a) contravene any applicable provision of any material law, statute, rule, regulation, order, writ, injunction or decree of any court or governmental instrumentality, (b) result in any breach of any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the creation or imposition of (or the obligation to create or impose) any Lien upon any of the property or assets of any Credit Party or any of the Restricted Subsidiaries (other than Liens created under the Credit Documents) pursuant to, the terms of any material indenture, loan agreement, lease agreement, mortgage, deed of trust, agreement or other material instrument to which such Credit Party or any of the Restricted Subsidiaries is a party or by which it or any of its property or assets is bound other than any such breach, default or Lien that could not reasonably be expected to result in a Material Adverse Effect or (c) violate any provision of the certificate of incorporation, by-laws or other organizational documents of such Credit Party or any of the Restricted Subsidiaries.
(d)    Before and after giving effect to this Amendment, the representations and warranties made by any Credit Party contained in the Credit Agreement and in the other Credit Documents are true and correct in all material respects (or if qualified by “materiality,” “material adverse effect” or similar language, in all respects (after giving effect to such qualification)) with the same effect as though such representations and warranties had been made on and as of the Amendment No. 1 Effective Date, except where such representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects (or if qualified by “materiality,” “material adverse effect” or similar language, in all respects (after giving effect to such qualification)) as of such earlier date.
(e)    At the time of and after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing.
Section 3.    Conditions to Effectiveness of Amendment.  This Amendment shall become effective on the first Business Day on which each of the following conditions is satisfied:
(a)    The Administrative Agent shall have received (i) from each Existing Term Loan Lender with a Tranche B-1 Term Loan Commitment and from Additional Tranche B-1 Term Loan Lenders having Additional Tranche B-1 Term Loan Commitments equal in principal amount to the amount of Existing Term Loans held by Non-Consenting Existing Term Loan Lenders and Post-Closing Option Lenders, (ii) from the Administrative Agent, (iii) from the Required Lenders and (iv) from the Borrowers and each Guarantor, either (x) a counterpart of this Amendment signed on behalf of such party or (y) written evidence satisfactory to the Administrative Agent 

(which may include telecopy or other electronic transmission of a signed signature page of this Amendment) that such party has signed a counterpart of this Amendment;
(b)    The Borrowers shall have paid to all Existing Term Loan Lenders on the Amendment No. 1 Effective Date, simultaneously with the making of Tranche B-1 Term Loans under the Credit Agreement, all accrued and unpaid interest on the Existing Term Loans to, but not including, the Amendment No. 1 Effective Date;
(c)    The Administrative Agent shall have received the executed legal opinion of Simpson Thacher & Bartlett LLP, special counsel to the Borrowers.  The Borrowers, the other Credit Parties and the Administrative Agent hereby instruct such counsel to deliver such legal opinion;
(d)    The Borrowers shall have paid (i) the Agents the fees in the amounts previously agreed in writing to be received on the Amendment No. 1 Effective Date and (ii) the Administrative Agent all reasonable costs and expenses (including, without limitation the reasonable fees, charges and disbursements of Cahill Gordon & Reindel LLP, counsel for the Agents) of the Administrative Agent for which invoices have been presented prior to the Amendment No. 1 Effective Date; 
(e)    At the time of and immediately after giving effect to the Amendment no Default or Event of Default shall have occurred and be continuing;
(f)    The Administrative Agent shall have received a completed “Life-of-Loan” Federal Emergency Management Agency Standard Flood Hazard Determination with respect to the Mortgaged Property (together with a notice about special flood hazard area status and flood disaster assistance duly executed by the Borrowers and the applicable Credit Party relating thereto) and, if any such Mortgaged Property is at any time located in an area identified by the Federal Emergency Management Agency (or any successor agency) as a special flood hazard area with respect to which flood insurance has been made available under the Flood Insurance Laws, evidence of flood insurance to the extent required pursuant to the Credit Agreement all by the Amendment No. 1 Effective Date; and
(g)    The Administrative Agent (or its counsel) shall have received (i) (A) a certificate of each of Holdings and the Borrowers, dated the Amendment No. 1 Effective Date, substantially in the form of Exhibit G to the Credit Agreement, with appropriate insertions, executed by any Authorized Officer (or in the case of Holdings any Director or authorized agent of Holdings) and the Secretary or any Assistant Secretary of Holdings or the Borrowers (or in the case of Holdings any Director or authorized agent of Holdings), as applicable, and attaching the documents referred to in the following clause (B) and (B) (x) a copy of the resolutions of the board of directors or other managers of Holdings and the Borrowers (or a duly authorized committee thereof) authorizing (I) the execution, delivery, and performance of this Amendment (and any agreements relating thereto) to which it is a party and (II) in the case of the Borrowers, the extensions of credit contemplated hereunder, (y) the Certificate of Incorporation and By-Laws, Certificate of Formation and Operating Agreement or other comparable organizational documents, as applicable, of Holdings and the Borrowers and (z) signature and incumbency certificates (or other comparable documents evidencing the same) of the Authorized Officers of Holdings and the Borrowers executing the Credit Documents to which it is a party or (ii) a certificate of Holdings on behalf of each Borrower, dated the Amendment No. 1 Effective Date and executed by an Authorized Officer of Holdings, certifying that, except as otherwise indicated therein, there have been no amendments, supplements or modifications since the Closing Date to the documents delivered on the Closing Date pursuant to Sections 6.3 and 6.4 of the Credit Agreement.
Section 4.    Agreements.  Holdings hereby agrees to take, and cause the other applicable Credit Parties to take, the actions listed on Schedule II to Amendment No. 1 within 90 days of the Amendment No.1 Effective Date (or such later date as the Administrative Agent in its reasonable discretion may agree).
Section 5.    Counterparts.  This Amendment may be executed in any number of counterparts and by different parties hereto on separate counterparts, each of which when so executed and delivered shall be deemed to be an original, but all of which when taken together shall constitute a single instrument.  Delivery of an executed counterpart of a signature page of this Amendment by facsimile transmission shall be effective as delivery of an original executed counterpart hereof.

Section 6.    Applicable Law.  THIS AMENDMENT SHALL BE GOVERNED BY, CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
Section 7.    Headings.  The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.
Section 8.    Effect of Amendment.
(a)    This Amendment shall not constitute a novation of the Credit Agreement or any of the Credit Documents.  Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Agents under the Credit Agreement or any other Credit Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision of the Credit Agreement or any other Credit Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect.  By executing and delivering a copy hereof, each Credit Party hereby consents to Amendment No. 1 and the transactions contemplated thereby and hereby confirms its respective guarantees, pledges and grants of security interests, as applicable, under and subject to the terms of each of the Credit Documents to which it is party, and agrees that, after giving effect to this Amendment, such guarantees, pledges and grants of security interests, and the terms of each of the Security Documents to which it is a party, shall continue to be in full force and effect, including to secure the Obligations (including, without limitation, the Tranche B-1 Term Loans).  For the avoidance of doubt, on and after the Amendment No. 1 Effective Date, this Amendment shall for all purposes constitute a Credit Document.
(b)    Each Additional Tranche B-1 Term Loan Lender party hereto (i) confirms that it has received a copy of the Credit Agreement, this Amendment No. 1 and the other Credit Documents, together with such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Amendment No. 1; (ii) agrees that it will, independently and without reliance upon the Administrative Agent, any Agent or any other Additional Tranche B-1 Term Loan Lender or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement; (iii) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under the Credit Agreement and the other Credit Documents as are delegated to the Administrative Agent by the terms thereof, together with such powers and discretion as are reasonably incidental thereto; and (iv) agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender.  Upon the Amendment No. 1 Effective Date, the undersigned Additional Tranche B-1 Term Loan Lender shall become a Lender under the Credit Agreement and shall have the respective Additional Tranche B-1 Term Loan Commitment set forth next to its name on the Allocation Schedule.  In addition, if an Existing Term Loan Lender has exercised its “Cashless Settlement Option” or the “Post-Closing Settlement Option” pursuant to their Consent to Amendment No. 1, the amount of such Existing Term Loan Lender’s participation in the Tranche B-1 Term Loans may be less than 100% of the principal amount of such Existing Term Loan Lender’s Existing Term Loans, based on the Amendment No. 1 Arrangers allocation of the Tranche B-1 Term Loans.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written.
GO DADDY OPERATING COMPANY, LLC
as Existing Borrower
By:    /s/ Ray Winborne
    Name: Ray Winborne
    Title: Chief Financial Officer
GO DADDY FINANCE CO, INC.
as FinCo Borrower
By:    /s/ Ray Winborne
    Name: Ray Winborne
    Title: Chief Financial Officer
DESERT NEWCO, LLC
as Holdings
By:    /s/ Nima Kelly 
    Name: Nima Kelly
    Title: EVP, General Counsel, and Secretary
GODADDY.COM, LLC, 
as a Guarantor
By:    /s/ Nima Kelly 
    Name: Nima Kelly
    Title: EVP, General Counsel, and Secretary
WILD WEST DOMAINS, LLC, 
as a Guarantor
By:    /s/ Nima Kelly 
    Name: Nima Kelly
    Title: EVP, General Counsel, and Secretary

[Signature Page to Amendment No. 1]

SPECIAL DOMAIN SERVICES, LLC, 
as a Guarantor
By:    /s/ Nima Kelly 
    Name: Nima Kelly
    Title: EVP, General Counsel, and Secretary
DOMAINS BY PROXY, LLC, 
as a Guarantor
By:    /s/ Nima Kelly 
    Name: Nima Kelly
    Title: EVP, General Counsel, and Secretary
BLUE RAZOR DOMAINS, LLC, 
as a Guarantor
By:    /s/ Nima Kelly 
    Name: Nima Kelly
    Title: EVP, General Counsel, and Secretary
STARFIELD TECHNOLOGIES, LLC, 
as a Guarantor
By:    /s/ Nima Kelly 
    Name: Nima Kelly
    Title: EVP, General Counsel, and Secretary
GO AUSTRALIA DOMAINS, LLC, 
as a Guarantor
By:    /s/ Nima Kelly 
    Name: Nima Kelly
    Title: EVP, General Counsel, and Secretary

[Signature Page to Amendment No. 1]

GO CANADA DOMAINS, LLC, 
as a Guarantor
By:    /s/ Nima Kelly 
    Name: Nima Kelly
    Title: EVP, General Counsel, and Secretary
GO FRANCE DOMAINS, LLC, 
as a Guarantor
By:    /s/ Nima Kelly 
    Name: Nima Kelly
    Title: EVP, General Counsel, and Secretary
GO MONTENEGRO DOMAINS, LLC, 
as a Guarantor
By:    /s/ Nima Kelly 
    Name: Nima Kelly
    Title: EVP, General Counsel, and Secretary
GO CHINA DOMAINS, LLC, 
as a Guarantor
By:    /s/ Nima Kelly 
    Name: Nima Kelly
    Title: EVP, General Counsel, and Secretary
GO DADDY EAST, LLC, 
as a Guarantor
By:    /s/ Nima Kelly 
    Name: Nima Kelly
    Title: EVP, General Counsel, and Secretary

[Signature Page to Amendment No. 1]

AFTERNIC SERVICES, LLC, 
as a Guarantor
By:    /s/ Nima Kelly 
    Name: Nima Kelly
    Title: EVP, General Counsel, and Secretary
NAMEFIND, LLC, 
as a Guarantor
By:    /s/ Nima Kelly 
    Name: Nima Kelly
    Title: EVP, General Counsel, and Secretary
CALLCATCHERS, INC., 
as a Guarantor
By:    /s/ Nima Kelly 
    Name: Nima Kelly
    Title: EVP, General Counsel, and Secretary
STANDARD TACTICS LLC, 
as a Guarantor
By:    /s/ Nima Kelly 
    Name: Nima Kelly
    Title: EVP, General Counsel, and Secretary
MEDIA TEMPLE, INC., 
as a Guarantor
By:    /s/ Nima Kelly 
    Name: Nima Kelly
    Title: EVP, General Counsel, and Secretary

[Signature Page to Amendment No. 1]

BARCLAYS BANK PLC, as Administrative Agent and Collateral Agent
By:    /s/ Chris Walton 
    Name: Chris Walton
    Title: Director

[Signature Page to Amendment No. 1]

Deutsche Bank AG New York Branch, as Additional Tranche B-1 Term Loan Lender
By:    /s/ Anca Trifan 
    Name: Anca Trifan
    Title: Managing Director
By:    /s/ Dusan Lazarov 
    Name: Dusan Lazarov
    Title: Director

[Signature Page to Amendment No. 1]

 Lender Consents on File with the Administrative Agent.

Schedule I
	
			
	Additional Tranche B-1 Term Loan Lender
	Additional Tranche B-1 Term Loan Commitment
	Notice address

	Deutsche Bank AG New York Branch 
	$178,202,849.42
	Michael Strobel
Deutsche Bank 
Leveraged Debt Capital Markets
60 Wall Street 
New York, NY 10005

	TOTAL
	$178,202,849.42
	 

[Schedue I to Amendment No. 1]

Schedule II
Action to be taken within 90 days of the Amendment No. 1 Effective Date
unless otherwise noted
(or such later date as the Administrative Agent in its reasonable discretion may agree)
		
	1.
	A date down endorsement to the existing Title Policy, which shall be in form and substance reasonably satisfactory to the Administrative Agent and reasonably assures the Administrative Agent as of the date of such endorsement that the Mortgaged Property subject to the lien of such Mortgage is free and clear of all defects and encumbrances except those Liens permitted under such Mortgage;

		
	2.
	such affidavits, certificates, information and instruments of indemnification as shall be required to induce the title insurance company to issue the endorsement to the Title Policy contemplated in this Schedule II and evidence of payment of all applicable title insurance premiums, search and examination charges, mortgage recording taxes and related charges required for the issuance of the endorsement to the Title Policy contemplated in this Schedule II; and

either:
A)    a favorable opinion, addressed to the Administrative Agent and each of the Secured Parties, in form and substance reasonably satisfactory to the Administrative Agent, from local counsel in the jurisdiction in which the Mortgaged Property is located substantially to the effect that:
i)    the recording of the existing Mortgage is the only filing or recording necessary to give constructive notice to third parties of the lien created by such Mortgage as security for the Obligations, including the Obligations evidenced by the Credit Agreement, as amended pursuant to this Amendment, and the other documents executed in connection therewith, for the benefit of the Secured Parties; and    
ii)    no other documents, instruments, filings, recordings, re-recordings, re-filings or other actions, including, without limitation, the payment of any mortgage recording taxes or similar taxes, are necessary or appropriate under applicable law in order to maintain the continued enforceability, validity or priority of the lien created by such Mortgage as security for the Obligations, including the Obligations evidenced by the Credit Agreement, as amended pursuant to this Amendment, and the other documents executed in connection therewith, for the benefit of the Secured Parties; or
B)    such other documentation with respect to the Mortgaged Property, in each case in form and substance reasonably acceptable to the Administrative Agent, as shall confirm the enforceability, validity and perfection of the lien in favor of the Secured Parties, including, without limitation:
i)    an amendment to the existing Mortgage (the “Mortgage Amendment”) duly executed and acknowledged by the applicable Credit Party, and in form for recording in the recording office where such Mortgage was recorded, together with such certificates, affidavits, questionnaires or returns as shall be required in connection with the recording or filing thereof under applicable law, in each case in form and substance reasonably satisfactory to the Administrative Agent;
ii)    a favorable opinion, addressed to the Administrative Agent and the Secured Parties covering, among other things, the due authorization, execution, delivery and enforceability of the applicable Mortgage as amended by the Mortgage Amendment, and shall otherwise be in form and substance reasonably satisfactory to the Administrative Agent; and
iii)    evidence of payment by the Borrowers of all search and examination charges escrow charges and related charges, mortgage recording taxes, fees, charges, costs and expenses required for the recording of the Mortgage Amendment referred to above.

[Schedue II to Amendment No. 1]

CONSENT TO AMENDMENT NO. 1
[   ], 2017
CONSENT (this “Consent to Amendment No. 1”) to Amendment No. 1 (“Amendment”) to Second Amended and Restated Credit Agreement, dated as of February 15, 2017  (as amended, restated, supplemented or otherwise modified, refinanced or replaced from time to time, the “Credit Agreement”), among DESERT NEWCO, LLC, a Delaware limited liability company (“Holdings”), GO DADDY OPERATING COMPANY, LLC, a Delaware limited liability company (the “Existing Borrower”), GD FINANCE CO, INC., a Delaware corporation (the “FinCo Borrower” and, together with the Existing Borrower, the “Borrowers”) the lending institutions from time to time parties thereto (each a “Lender” and, collectively, together with the Swingline Lender, the “Lenders”), BARCLAYS BANK PLC, as the Administrative Agent, the Collateral Agent, the Swingline Lender,  and Letter of Credit Issuer. Capitalized terms used but not defined herein having the meaning provided in the Credit Agreement (as amended hereby).
Existing Lenders of Term Loans
The undersigned Lender hereby irrevocably and unconditionally approves the Amendment and consents as follows (check ONE option):
Cashless Settlement Option
		
	☐
	to convert 100% of the outstanding principal amount of the Existing Term Loans held by such Lender (or such lesser amount allocated to such Lender by the Amendment No. 1 Arrangers) into a Tranche B-1 Term Loans in a like principal amount.

Post-Closing Settlement Option
		
	☐
	to have 100% of the outstanding principal amount of the Existing Term Loans held by such Lender prepaid on the Amendment No. 1 Effective Date and purchase by assignment the principal amount of Tranche B-1 Term Loans committed to separately by the undersigned (or such lesser amount allocated to such Lender by the Amendment No. 1 Arrangers).

IN WITNESS WHEREOF, the undersigned has caused this Consent to be executed and delivered by a duly authorized officer as of the date first written above.
________________________________________, 
as a Lender (type name of the legal entity)
By:        
Name:    
Title:    
If a second signature is necessary:
By:        
Name:    
Title:
Current Holding Amount of Existing Term Loans:$_____________________
Name of Fund Manager (if any):__________________

[Amendment No. 1 – Consent]

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