SEC Contract Filing

Filing Date: 2015-04-15

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>7
<FILENAME>d908993dex103.htm
<DESCRIPTION>EX-10.3
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<TITLE>EX-10.3</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXECUTION COPY </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SERIES 2015-2
LOCKBOX PROCESSING AGREEMENT </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Dated as of April&nbsp;8, 2015 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Regulus Group II LLC (&#147;<U>Processor</U>&#148;), AmeriCredit Financial Services, Inc. (&#147;<U>AmeriCredit</U>&#148;) and Citibank, N.A.,
as Trustee (the &#147;<U>Trustee</U>&#148;), agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1. <U>Servicing Arrangements</U>. AmeriCredit, as Servicer (the
&#147;<U>Servicer</U>&#148;), AFS SenSub Corp., as Seller (&#147;<U>Seller</U>&#148;), AmeriCredit Automobile Receivables Trust 2015-2 (the &#147;<U>Trust</U>&#148;) and the Trustee entered into a Sale and Servicing Agreement dated as of
April&nbsp;8, 2015 (as amended, supplemented and otherwise modified from time to time, the &#147;<U>Sale and Servicing Agreement</U>&#148;), relating to the Receivables (as such term is defined in the Sale and Servicing Agreement), pursuant to which
the Receivables were sold, transferred, assigned, or otherwise conveyed to the Trust. The Sale and Servicing Agreement contemplates the engagement of a processor for lockbox services, and the Indenture contemplates that the Lockbox Account (as
defined herein) will be assigned and pledged to the Trust Collateral Agent. The Sale and Servicing Agreement does not include specific terms for the provision of data processing services of remittance items. Such terms are set forth in this Lockbox
Processing Agreement (the &#147;<U>Agreement</U>&#148;). For avoidance of doubt, Processor is not a depository institution. All capitalized terms used herein and not otherwise defined herein shall have the meanings specified in the Sale and
Servicing Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">2. <U>Remittance Processing Services</U>. In order to provide a means of collection of the Receivables which will
allow the Trustee to receive the proceeds of the Receivables and related security without AmeriCredit or its Affiliates having access to the funds, the parties hereto agree for the benefit of the Trustee that the processing services (the
&#147;<U>Service(s)</U>&#148;) of Processor will be used for the collection and the deposit of remittances related to the Receivables and related security. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3. <U>Customer Remittances</U>. Obligors of the Receivables will be directed by AmeriCredit to forward their remittances to Processor at a
post office address (the &#147;<U>Lockbox</U>&#148;) assigned by Processor. Processor, acting for the exclusive benefit of the Trustee, shall have unrestricted and exclusive access to the mail directed to this address. AmeriCredit agrees to notify
Processor thirty (30)&nbsp;days in advance of any change in Obligor remittance statements and/or mailing schedule. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">4. <U>Collection of
Mail</U>. Processor will collect mail from the Lockbox at regular intervals each business day, but not less than two times daily. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">5.
<U>Endorsement of Items</U>. Processor will process, on behalf of AmeriCredit, checks and other deposited items that appear to be for deposit to the credit of AmeriCredit or its Affiliates in accordance with Processor&#146;s Lockbox Processing
Agreement and Instructions, or other applicable agreement and related service terms (individually and collectively, the &#147;<U>Processor Documentation</U>&#148;), as appropriate. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">6. <U>Credit of Funds to Account</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Processor will process the checks and other deposited items and credit the total amount to the account described below (the
&#147;<U>Lockbox Account</U>&#148;). The Lockbox Account will be established at JPMorgan Chase Bank, N.A. (ABA No.: 122100024) as account number 700610012. The Lockbox Account will be maintained and all banking functions will be provided by JPMorgan
Chase Bank, N.A. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Unless otherwise directed by the Trustee, AmeriCredit agrees that all collected funds on deposit in the Lockbox
Account shall be transferred from the Lockbox Account within two Business Days by wire transfer in immediately available funds to the following account: Citibank, N.A., Account No.&nbsp;3617-2242 f/b/o 114422 ; ABA No.&nbsp;021000089 (the
&#147;<U>Collection Account</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">7. <U>Processor Documentation</U>. This Agreement supplements, rather than replaces, the
Processor Documentation, terms and conditions, and ot