SEC Contract Filing

Filing Date: 2016-08-11

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>6
<FILENAME>d193613dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</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 10.2 </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXECUTION COPY </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SERIES
2016-3 LOCKBOX ACCOUNT AGREEMENT </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Dated as of August&nbsp;3, 2016 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">JPMorgan Chase Bank, N.A. (&#147;<U>Processor</U>&#148;), AmeriCredit Financial Services, Inc. (&#147;<U>AmeriCredit</U>&#148;), Citibank,
N.A., as Trustee (the &#147;<U>Trustee</U>&#148;), and AmeriCredit Automobile Receivables Trust 2016-3 (the &#147;<U>Trust</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;), the Trust and the Trustee entered into a Sale and Servicing Agreement dated as of August&nbsp;3, 2016 (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 and includes terms for the opening of the Lockbox Account (as defined herein), and the Indenture contemplates that the Lockbox Account 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 and deposit of remittance items. Such terms are set forth in this Lockbox Account Agreement (the &#147;<U>Agreement</U>&#148;). 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 banking services (the &#147;<U>Service(s)</U>&#148;) of Processor will be used for 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>. Third party money wire transfer providers, which shall include Western Union Financial Services, Inc.
(&#147;<U>ACH Service</U>&#148;) may from time to time electronically deposit funds in the Lockbox Account (as defined herein) on behalf of Obligors and such ACH Service shall be authorized by Processor to electronically debit the Lockbox Account
for the amounts of any return items from Obligors; provided, however, the electronic debit of the Lockbox Account for any return items by all ACH Services may not exceed $100,000 in the aggregate per day. Processor is authorized to establish such
arrangements, on such terms deemed prudent by Processor, with such ACH Service concerning the electronic access to the Lockbox Account. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">4. <U>The Lockbox Account</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Processor (ABA No.&nbsp;122100024) has established account number 878372288 (the &#147;<U>Lockbox Account</U>&#148;). Pursuant to the terms
of the Indenture and during the term of this Agreement, and except as otherwise required by law (e.g., for purposes of attachment, execution and other forms of legal process), all collected funds held in the Lockbox Account shall be deemed to be the
Trustee&#146;s funds, and the Trustee will have exclusive right to control such funds and to make demand upon or otherwise require Processor to make payment of any such funds to any person. In the event a successor Processor has become Processor,
the successor Processor&#146;s notice of the new Lockbox Account pursuant to Section&nbsp;16 shall amend and replace the Lockbox Account above without the execution or filing of any document or any further act by any of the parties to this
Agreement. </P>

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 <P STYLE="margin-top:0pt; 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.11640800; ABA No.&nbsp;021000089 (the
&#147;<U>Collection Account</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Each party hereto agrees that all funds deposited into the Lockbox Account will not be
subject to deduction, setoff, banker&#146;s lien, or any other similar right in favor of any person, except that Processor or ACH Service may set