SEC Contract Filing

Filing Date: 2020-09-18

Document Content:
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>12
<FILENAME>exhibit10-6.htm
<DESCRIPTION>CUSTODIAN AGREEMENT
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 <div style="margin-bottom: 12pt; text-align: right;"><font style="font-weight: bold;">Exhibit 10.6</font><br>
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 <div style="text-align: center; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-weight: bold;">FORM OF CUSTODIAN AGREEMENT<br>
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 among<br>
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 EXETER FINANCE LLC,<br>
 as Custodian,<br>
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 EXETER FINANCE LLC,<br>
 as Servicer,<br>
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 and<br>
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 WELLS FARGO BANK, NATIONAL ASSOCIATION,<br>
 as Indenture Trustee<br>
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 Dated as of August 31, 2020</div>
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 <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif;">THIS CUSTODIAN AGREEMENT, dated as of August 31, 2020, is made with respect to the issuance of Notes and Certificates by Exeter Automobile
 Receivables Trust 2020-3 (the &#8220;<u>Issuer</u>&#8221;), and is among EXETER FINANCE LLC, as custodian (in such capacity, the &#8220;<u>Custodian</u>&#8221;), EXETER FINANCE LLC, as servicer (in such capacity, the &#8220;<u>Servicer</u>&#8221;), and WELLS FARGO BANK, NATIONAL
 ASSOCIATION, a national banking association, as indenture trustee (in such capacity, the &#8220;<u>Indenture Trustee</u>&#8221;).&#160; Capitalized terms used herein which are not defined herein shall have the meanings set forth in the Sale and Servicing Agreement
 (as hereinafter defined).</div>
 <div style="text-align: center; margin-bottom: 12pt; font-family: 'Times New Roman', serif;"><u>W I T N E S S E T H</u><u>:</u></div>
 <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif;">WHEREAS, Exeter Finance LLC (&#8220;<u>Exeter</u>&#8221;) and EFCAR, LLC (&#8220;<u>EFCAR</u>&#8221;) have entered into a Purchase Agreement dated as of August 31,
 2020 (the &#8220;<u>Purchase Agreement</u>&#8221;), pursuant to which Exeter has sold, transferred and assigned to EFCAR all of Exeter&#8217;s right, title and interest in and to certain of the Receivables;</div>
 <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif;">WHEREAS, Exeter Flow Intermediary Trust (&#8220;<u>EFIT</u>&#8221;), Exeter and EFCAR have entered into a Sale Agreement dated as of August 31, 2020
 (the &#8220;<u>Sale Agreement</u>&#8221;), pursuant to which EFIT has sold, transferred and assigned to EFCAR all of EFIT&#8217;s right, title and interest in and to certain of the Receivables;</div>
 <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif;">WHEREAS, the Issuer, the Servicer, EFCAR, Exeter Holdings Trust 2020-3 (the &#8220;<u>Holding Trust</u>&#8221;) and the Indenture Trustee and Backup
 Servicer, have entered into a Sale and Servicing Agreement, dated as of August 31, 2020 (the &#8220;<u>Sale and Servicing Agreement</u>&#8221;), pursuant to which EFCAR has sold, transferred and assigned to the Issuer all of EFCAR&#8217;s right, title and interest in
 and to the Receivables;</div>
 <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif;">WHEREAS, the Issuer, the Holding Trust and the Indenture Trustee have entered into an Indenture dated as of August 31, 2020 (the &#8220;<u>Indenture</u>&#8221;),
 pursuant to which (a) the Issuer has pledged to the Indenture Trustee for the benefit of the Noteholders, all of the Issuer&#8217;s right, title and interest in and to the Holding Trust Certificate and (b) the Holding Trust has pledged to the Indenture
 Trustee for the benefit of the Noteholders, all of the Holding Trust&#8217;s right, title and interest in and to the Receivables; and</div>
 <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif;">WHEREAS, the Indenture Trustee wishes to hereby appoint the Custodian to hold the Receivable Files as the custodian on behalf of the
 Holding Trust and the Indenture Trustee;</div>
 <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif;">NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration the receipt and
 adequacy of which are hereby acknowledged, the parties agree as follows:</div>
 <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;"><font style="font-family: 'Times New Roman', serif;">1.</font><font style="text-indent: 0px; font-size: 5.14pt;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family: 'Times New Roman', serif;"><u>Appointment of Custodian; Acknowledgement of Receipt</u>.&#160; Subject to the terms and conditions hereof, the Indenture Trustee hereby revocably appoints the Custodian, but shall not be responsible for
 the acts or omissions of the Custodian, and the Custodian hereby accepts such appointment, as custodian and bailee on behalf of the Holding Trust and the Indenture Trustee, to maintain exclusive custody of the Rece