EX-4.3 4 dex43.htm SALE AND SERVICING AGREEMENT, DATED AS OF MARCH 25, 2010 Sale and Servicing Agreement, dated as of March 25, 2010

Exhibit 4.3

 

 

SALE AND SERVICING

AGREEMENT

among

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-A,

Issuer,

AFS SENSUB CORP.,

Seller,

AMERICREDIT FINANCIAL SERVICES, INC.,

Servicer,

and

WELLS FARGO BANK, NATIONAL ASSOCIATION,

Backup Servicer and Trust Collateral Agent

Dated as of March 25, 2010

 

 

 


TABLE OF CONTENTS

 

          Page

ARTICLE I Definitions

   1

SECTION 1.1.

   Definitions    1

SECTION 1.2.

   Other Definitional Provisions    21

ARTICLE II Conveyance of Receivables

   22

SECTION 2.1.

   Conveyance of Receivables    22

SECTION 2.2.

   [Reserved]    23

SECTION 2.3.

   Further Encumbrance of Trust Property    23

SECTION 2.4.

   Intention of the Parties.    23

ARTICLE III The Receivables

   24

SECTION 3.1.

   Representations and Warranties of Seller    24

SECTION 3.2.

   Repurchase upon Breach    25

SECTION 3.3.

   Custody of Receivable Files    26

ARTICLE IV Administration and Servicing of Receivables

   27

SECTION 4.1.

   Duties of the Servicer and the Backup Servicer    27

SECTION 4.2.

   Collection of Receivable Payments; Modifications of Receivables; Lockbox Agreements    28

SECTION 4.3.

   Realization upon Receivables    31

SECTION 4.4.

   Insurance    33

SECTION 4.5.

   Maintenance of Security Interests in Vehicles    35

SECTION 4.6.

   Covenants, Representations, and Warranties of Servicer    36

SECTION 4.7.

   Purchase of Receivables Upon Breach of Covenant    36

SECTION 4.8.

   Total Servicing Fee; Payment of Certain Expenses by Servicer    37

SECTION 4.9.

   Preliminary Servicer’s Certificate and Servicer’s Certificate    38

SECTION 4.10.

   Annual Statement as to Compliance, Notice of Servicer Termination Event    38

SECTION 4.11.

   Annual Independent Public Accountants’ Report    39

SECTION 4.12.

   Access to Certain Documentation and Information Regarding Receivables    40

SECTION 4.13.

   Monthly Tape    41

ARTICLE V Trust Accounts; Distributions; Statements to Noteholders

   42

SECTION 5.1.

   Establishment of Trust Accounts    42

SECTION 5.2.

   [Reserved]    44

SECTION 5.3.

   Certain Reimbursements to the Servicer    44

SECTION 5.4.

   Application of Collections    45

SECTION 5.5.

   Withdrawals from Spread Account    45

SECTION 5.6.

   Additional Deposits    46

SECTION 5.7.

   Distributions    46

SECTION 5.8.

   Note Distribution Account    48

SECTION 5.9.

   [Reserved]    49

SECTION 5.10.

   Statements to Noteholders    49

 

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SECTION 5.11.

   Optional Deposits by the Insurer    50

ARTICLE VI The Note Policy

   51

SECTION 6.1.

   Claims Under Note Policy    51

SECTION 6.2.

   Preference Claims Under Note Policy    52

SECTION 6.3.

   Surrender of Note Policy    53

ARTICLE VII The Seller

   53

SECTION 7.1.

   Representations of Seller    53

SECTION 7.2.

   Corporate Existence    55

SECTION 7.3.

   Liability of Seller; Indemnities    55

SECTION 7.4.

   Merger or Consolidation of, or Assumption of the Obligations of, Seller    56

SECTION 7.5.

   Limitation on Liability of Seller and Others    57

SECTION 7.6.

   Ownership of the Certificates or Notes    57

ARTICLE VIII The Servicer and the Backup Servicer

   57

SECTION 8.1.

   Representations of Servicer    57

SECTION 8.2.

   Representations of Backup Servicer    59

SECTION 8.3.

   Liability of Servicer and Backup Servicer; Indemnities    60

SECTION 8.4.

   Merger or Consolidation of, or Assumption of the Obligations of the Servicer or Backup Servicer    62

SECTION 8.5.

   Limitation on Liability of Servicer, Backup Servicer and Others    63

SECTION 8.6.

   Delegation of Duties    64

SECTION 8.7.

   Servicer and Backup Servicer Not to Resign    65

ARTICLE IX Default

   66

SECTION 9.1.

   Servicer Termination Event    66

SECTION 9.2.

   Consequences of a Servicer Termination Event    67

SECTION 9.3.

   Appointment of Successor    68

SECTION 9.4.

   Notification to Noteholders    69

SECTION 9.5.

   Waiver of Past Defaults    70

SECTION 9.6.

   Backup Servicer Termination    70

ARTICLE X

   70

Termination

   70

SECTION 10.1.

   Optional Purchase of All Receivables    70

ARTICLE XI Administrative Duties of the Servicer

   71

SECTION 11.1.

   Administrative Duties    71

SECTION 11.2.

   Records    73

SECTION 11.3.

   Additional Information to be Furnished to the Issuer    73

ARTICLE XII Miscellaneous Provisions

   73

SECTION 12.1.

  

Amendment

   73

SECTION 12.2.

   Protection of Title to Trust    75

SECTION 12.3.

   Notices    77

 

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SECTION 12.4.

   Assignment    77

SECTION 12.5.

   Limitations on Rights of Others    78

SECTION 12.6.

   Severability    78

SECTION 12.7.

   Separate Counterparts    78

SECTION 12.8.

   Headings    78

SECTION 12.9.

   Governing Law    78

SECTION 12.10.

   Assignment to Trust Collateral Agent    78

SECTION 12.11.

   Nonpetition Covenants    79

SECTION 12.12.

   Limitation of Liability of Owner Trustee and Trust Collateral Agent    79

SECTION 12.13.

   Independence of the Servicer    79

SECTION 12.14.

   No Joint Venture    80

SECTION 12.15.

   State Business Licenses    80

SCHEDULES

  

Schedule A

   Schedule of Receivables   

Schedule B

   Representations and Warranties of the Seller and the Servicer   

Schedule C

   Servicing Policies and Procedures   

EXHIBITS

  

Exhibit A

   Form of Servicer’s Certificate   

Exhibit B

   Form of Preliminary Servicer’s Certificate   

 

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SALE AND SERVICING AGREEMENT dated as of March 25, 2010, among AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-A, a Delaware statutory trust (the “Issuer”), AFS SENSUB CORP., a Nevada corporation (the “Seller”), AMERICREDIT FINANCIAL SERVICES, INC., a Delaware corporation (the “Servicer”) and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, in its capacity as Backup Servicer and Trust Collateral Agent.

WHEREAS the Issuer desires to purchase a portfolio of receivables arising in connection with motor vehicle retail installment sale contracts made by AmeriCredit Financial Services, Inc. or an Originating Affiliate or acquired by AmeriCredit Financial Services, Inc. or an Originating Affiliate through motor vehicle dealers and third party lenders;

WHEREAS the Seller has purchased such receivables from AmeriCredit Financial Services, Inc. and is willing to sell such receivables to the Issuer;

WHEREAS the Servicer is willing to service all such receivables;

WHEREAS the Backup Servicer is willing to provide backup servicing for all such receivables;

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

ARTICLE I

Definitions

SECTION 1.1. Definitions. Whenever used in this Agreement, the following words and phrases shall have the following meanings:

Accelerated Payment Amount Shortfall” means, with respect to any Distribution Date, the excess, if any, of (i) the excess, if any, on such Distribution Date of the Pro Forma Note Balance for such Distribution Date over the Required Pro Forma Note Balance for such Distribution Date over (ii) the excess of the amount of Available Funds on such Distribution Date over the amounts payable on such Distribution Date pursuant to Section 5.7(a)(i) through (vi).

Accelerated Payment Amount Shortfall Deposit” means, with respect to any Distribution Date, any amount withdrawn from the Spread Account as an Accelerated Payment Amount Shortfall and deposited to the Collection Account pursuant to Sections 5.5(b) and 5.6.

Accelerated Payment Shortfall Notice” means, with respect to any Distribution Date, a written notice specifying the Accelerated Payment Amount Shortfall for such Distribution Date.

Accelerated Principal Amount” for a Distribution Date will equal the lesser of


(x) the sum of (i) the excess, if any, of the amount of the total Available Funds on such Distribution Date over the amounts payable on such Distribution Date pursuant to clauses (i) through (vi) of Section 5.7(a) hereof plus (ii) amounts, if any, available in accordance with the terms of the Spread Account Agreement; and

(y) the excess, if any, on such Distribution Date of (i) the Pro Forma Note Balance for such Distribution Date over (ii) the Required Pro Forma Note Balance for such Distribution Date.

Accountants’ Report” means the report of a firm of nationally recognized Independent Accountants described in Section 4.11.

Accounting Date” means, with respect to any Collection Period the last day of such Collection Period.

Additional Funds Available” means, with respect to any Insured Distribution Date, the sum of (i) the Deficiency Claim Amount, if any, received by the Trust Collateral Agent on the Distribution Date related to such Insured Distribution Date plus (ii) the Insurer Optional Deposit, if any, received by the Trust Collateral Agent with respect to such Insured Distribution Date.

Affiliate” means, with respect to any specified Person, any other Person controlling or controlled by or under common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

Aggregate Principal Balance” means, with respect to any date of determination, the sum of the Principal Balances for all Receivables (other than (i) any Receivable that became a Liquidated Receivable prior to the end of the related Collection Period and (ii) any Receivable that became a Purchased Receivable prior to the end of the related Collection Period) as of the date of determination.

Agreement” means this Sale and Servicing Agreement, as the same may be amended and supplemented from time to time.

AmeriCredit” means AmeriCredit Financial Services, Inc.

Amount Financed” means, with respect to a Receivable, the aggregate amount advanced under such Receivable toward the purchase price of the Financed Vehicle and any related costs, including amounts advanced in respect of accessories, insurance premiums, service contracts, car club and warranty contracts, other items customarily financed as part of motor vehicle retail installment sale contracts or promissory notes, and related costs.

Annual Percentage Rate” or “APR” of a Receivable means the annual percentage rate of finance charges or service charges, as stated in the related Contract.

 

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Auto Loan Purchase and Sale Agreement” means any agreement between a Third-Party Lender and AmeriCredit or an Originating Affiliate relating to the acquisition of Receivables from a Third Party Lender by AmeriCredit or an Originating Affiliate.

Available Funds” means, with respect to any Distribution Date, the sum of (i) the Collected Funds for the related Collection Period, (ii) all Purchase Amounts deposited in the Trust Accounts during the related Collection Period, plus Investment Earnings with respect to the Trust Accounts and the Spread Account for the related Collection Period, (iii) following the acceleration of the Notes pursuant to Section 5.2 of the Indenture, the amount of money or property collected pursuant to Section 5.3 of the Indenture since the preceding Distribution Date by the Trust Collateral Agent or Controlling Party for distribution pursuant to Section 5.6 and Section 5.8 of the Indenture and (iv) the proceeds of any purchase or sale of the assets of the Trust described in Section 10.1 hereof.

Backup Servicer” means Wells Fargo Bank, National Association so long as it is the Trustee hereunder, or any successor backup servicer appointed in accordance with Section 8.7.

Base Servicing Fee” means, with respect to any Collection Period, the fee payable to the Servicer for services rendered during such Collection Period, which shall be equal to the product of (i) the Servicing Fee Rate times (ii) the aggregate Principal Balance of the Receivables as of the opening of business on the first day of such Collection Period (or in the case of the first Distribution Date, March 26, 2010) times (iii) one-twelfth (or in the case of the first Distribution Date, the actual number of days during the Collection Period divided by 360).

Basic Documents” means this Agreement, the Certificate of Trust, the Trust Agreement, the Indenture, the Spread Account Agreement, the Underwriting Agreement, the Lockbox Account Agreement, the Lockbox Processing Agreement, the Insurance Agreement, the Indemnification Agreement, the Custodian Agreement, the Purchase Agreement and other documents and certificates delivered in connection therewith.

Business Day” means any day other than a Saturday, a Sunday, a legal holiday or other day on which the New York Stock Exchange, the Federal Reserve Bank of New York, commercial banking institutions located in Wilmington, Delaware, Fort Worth, Texas, New York, New York, Minneapolis, Minnesota, the State of Maryland or any other location of any successor Servicer, successor Owner Trustee or successor Trust Collateral Agent are authorized or obligated by law, executive order or governmental decree to be closed.

Certificate” means the trust certificate evidencing the beneficial interest of the Certificateholder in the Trust.

Certificateholder” means the Person in whose name the Certificate is registered.

Class” means the Class A-1 Notes, the Class A-2 Notes or the Class A-3 Notes, as the context requires.

Class A-1 Notes” has the meaning assigned to such term in the Indenture.

 

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Class A-2 Notes” has the meaning assigned to such term in the Indenture.

Class A-3 Notes” has the meaning assigned to such term in the Indenture.

Closing Date” means March 31, 2010.

Collateral Agent” means Wells Fargo Bank, National Association, in its capacity as Collateral Agent under the Spread Account Agreement.

Collateral Insurance” shall have the meaning set forth in Section 4.4(a).

Collected Funds” means, with respect to any Collection Period, the amount of funds in the Collection Account representing collections on the Receivables during such Collection Period, including all Net Liquidation Proceeds collected during such Collection Period (but excluding any Purchase Amounts).

Collection Account” means the account designated as such, established and maintained pursuant to Section 5.1.

Collection Period” means, with respect to the first Distribution Date, the period beginning as of the close of business on March 25, 2010, and ending as of the close of business on April 30, 2010. With respect to each subsequent Distribution Date, “Collection Period” means the period beginning as of the close of business on the last day of the second preceding calendar month and ending as of the close of business on the last day of the immediately preceding calendar month. Any amount stated “as of the close of business” shall give effect to the following calculations as determined as of the end of the day on such day: (i) all applications of collections and (ii) all distributions.

Collection Records” means all manually prepared or computer generated records relating to collection efforts or payment histories with respect to the Receivables.

Commission” means the United States Securities and Exchange Commission.

Computer Tape” means the computer tapes or other electronic media furnished by the Servicer to the Issuer and the Insurer and its assigns describing certain characteristics of the Receivables as of the Cutoff Date.

Contract” means a motor vehicle retail installment sale contract or promissory note.

Controlling Party” means the Insurer, so long as no Insurer Default shall have occurred and be continuing, and the Trust Collateral Agent for the benefit of the Noteholders, in the event an Insurer Default shall have occurred and be continuing.

Corporate Trust Office” means (i) with respect to the Owner Trustee, the principal corporate trust office of the Owner Trustee, which at the time of execution of this agreement is Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890-0001, Attention: Corporate Trust Administration, and (ii) with respect to the Trustee, the Trust

 

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Collateral Agent, the Backup Servicer and the Collateral Agent, the principal office thereof at which at any particular time its corporate trust business shall be administered, which at the time of execution of this agreement is Sixth Street and Marquette Avenue, MAC N9311-161, Minneapolis, Minnesota 55479, Attention: Corporate Trust Office.

Cram Down Loss” means, with respect to a Receivable that has not become a Liquidated Receivable, if a court of appropriate jurisdiction in a proceeding related to an Insolvency Event shall have issued an order reducing the amount owed on a Receivable or otherwise modifying or restructuring the Scheduled Receivables Payments to be made on a Receivable, an amount equal to (i) the excess of the Principal Balance of such Receivable immediately prior to such order over the Principal Balance of such Receivable as so reduced and/or (ii) if such court shall have issued an order reducing the effective rate of interest on such Receivable, the excess of the Principal Balance of such Receivable immediately prior to such order over the net present value (using as the discount rate the higher of the APR on such Receivable or the rate of interest, if any, specified by the court in such order) of the Scheduled Receivables Payments as so modified or restructured. A Cram Down Loss shall be deemed to have occurred on the date of issuance of such order.

Custodian” means AmeriCredit and any other Person named from time to time as custodian in any Custodian Agreement acting as agent for the Trust Collateral Agent, which Person must be acceptable to the Controlling Party (the Custodian as of the Closing Date is acceptable to the Controlling Party as of the Closing Date).

Custodian Agreement” means any Custodian Agreement from time to time in effect between the Custodian named therein, the Insurer and the Trust Collateral Agent, as the same may be amended, supplemented or otherwise modified from time to time in accordance with the terms thereof, which Custodian Agreement and any amendments, supplements or modifications thereto shall be acceptable to the Controlling Party (the Custodian Agreement which is effective on the Closing Date is acceptable to the Controlling Party).

Cutoff Date” means March 25, 2010.

Dealer” means a dealer who sold a Financed Vehicle and who originated and assigned the respective Receivable to AmeriCredit or an Originating Affiliate under a Dealer Agreement or pursuant to a Dealer Assignment.

Dealer Agreement” means any agreement between a Dealer and AmeriCredit or an Originating Affiliate relating to the acquisition of Receivables from a Dealer by AmeriCredit or an Originating Affiliate.

Dealer Assignment” means, with respect to a Receivable, the executed assignment executed by a Dealer conveying such Receivable to AmeriCredit or an Originating Affiliate.

Deficiency Claim Amount” means, with respect to any Determination Date, after taking into account the application on the related Distribution Date of the Available Funds for the related Collection Period, an amount equal to the sum of, without duplication (i) any shortfall in the payment of the full amounts described in clauses (i), (ii), (iii) and (v) of Section 5.7(a)

 

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herein, (ii) the Noteholders’ Parity Deficit Amount, if any, for such Distribution Date and (iii) if the related Distribution Date is the Final Scheduled Distribution Date of any Class, any remaining outstanding principal balance of such Class, to the extent that such amount is available on the related Distribution Date in accordance with the terms of the Spread Account Agreement.

Deficiency Claim Amount Deposit” means, with respect to any Distribution Date, any amount withdrawn from the Spread Account as a Deficiency Claim Amount and deposited to the Collection Account pursuant to Sections 5.5(a) and 5.6.

Deficiency Notice” shall have the meaning set forth in Section 5.5.

Delivery” when used with respect to Trust Account Property means:

(a) with respect to bankers’ acceptances, commercial paper, negotiable certificates of deposit and other obligations that constitute “instruments” within the meaning of Section 9-102(a)(47) of the UCC and are susceptible of physical delivery, transfer thereof to the Trust Collateral Agent by physical delivery to the Trust Collateral Agent endorsed to, or registered in the name of, the Trust Collateral Agent or endorsed in blank, and, with respect to a certificated security (as defined in Section 8-102(a)(4) of the UCC), transfer thereof (i) by delivery thereof to the Trust Collateral Agent of such certificated security endorsed to, or registered in the name of, the Trust Collateral Agent or (ii) by delivery thereof to a “clearing corporation” (as defined in Section 8-102(a)(5) of the UCC) and the making by such clearing corporation of appropriate entries on its books reducing the appropriate securities account of the transferor and increasing the appropriate securities account of the Trust Collateral Agent by the amount of such certificated security and the identification by the clearing corporation of the certificated securities for the sole and exclusive account of the Trust Collateral Agent (all of the foregoing, “Physical Property”), and, in any event, any such Physical Property in registered form shall be in the name of the Trust Collateral Agent or its nominee; and such additional or alternative procedures as may hereafter become appropriate to effect the complete transfer of ownership of any such Trust Account Property to the Trust Collateral Agent or its nominee or custodian, consistent with changes in applicable law or regulations or the interpretation thereof;

(b) with respect to any security issued by the U.S. Treasury, the Federal Home Loan Mortgage Corporation or by the Federal National Mortgage Association that is a book-entry security held through the Federal Reserve System pursuant to federal book-entry regulations, the following procedures, all in accordance with applicable law, including applicable Federal regulations and Articles 8 and 9 of the UCC: book-entry registration of such Trust Account Property to an appropriate book-entry account maintained with a Federal Reserve Bank by a securities intermediary that is also a “depository” pursuant to applicable federal regulations; the making by such securities intermediary of entries in its books and records crediting such Trust Account Property to the Trust Collateral Agent’s securities account at the securities intermediary and identifying such book-entry security held through the Federal Reserve System pursuant to federal book-entry regulations as belonging to the Trust Collateral Agent; and such additional or alternative procedures as may hereafter become appropriate to effect complete transfer of ownership of any such Trust Account Property to the Trust Collateral Agent, consistent with changes in applicable law or regulations or the interpretation thereof;

 

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(c) with respect to any item of Trust Account Property that is an uncertificated security under Article 8 of the UCC and that is not governed by clause (b) above, registration on the books and records of the issuer thereof in the name of the Trust Collateral Agent or its nominee or custodian who either (i) becomes the registered owner on behalf of the Trust Collateral Agent or (ii) having previously become the registered owner, acknowledges that it holds for the Trust Collateral Agent; and

(d) with respect to any item of Trust Account Property that is a financial asset under Article 8 of the UCC and that is not governed by clause (b) above, causing the securities intermediary to indicate on its books and records that such financial asset has been credited to a securities account of the Trust Collateral Agent.

Determination Date” means, with respect to any Collection Period the earlier of (i) the second Business Day preceding the Distribution Date in the next calendar month, and (ii) the fourth Business Day preceding the Insured Distribution Date in the next calendar month.

Distribution Date” means, with respect to each Collection Period, the sixth day of the following calendar month, or, if such day is not a Business Day, the immediately following Business Day, commencing May 6, 2010. If AmeriCredit is no longer acting as Servicer, the distribution date may be a different day of the month.

Draw Date” means, with respect to any Insured Distribution Date, the third Business Day immediately preceding such Insured Distribution Date.

Electronic Ledger” means the electronic master record of the retail installment sales contracts or installment loans of the Servicer.

Eligible Deposit Account” means a segregated trust account with the corporate trust department of a depository institution acceptable to the Insurer organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as (i) any of the securities of such depository institution have a credit rating from each Rating Agency in one of its generic rating categories which signifies investment grade and (ii) such depository institutions’ deposits are insured by the FDIC.

Eligible Investments” mean book-entry securities, negotiable instruments or securities represented by instruments in bearer or registered form which evidence:

(a) direct obligations of, and obligations fully guaranteed as to timely payment by, the United States of America;

(b) demand deposits, time deposits or certificates of deposit of any depository institution or trust company incorporated under the laws of the United States of America or any state thereof or the District of Columbia (or any domestic branch of a foreign bank) and subject to supervision and examination by federal or state banking or depository institution authorities (including depository receipts issued by any such

 

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institution or trust company as custodian with respect to any obligation referred to in clause (a) above or portion of such obligation for the benefit of the holders of such depository receipts); provided, however, that at the time of the investment or contractual commitment to invest therein (which shall be deemed to be made again each time funds are reinvested following each Distribution Date), the commercial paper or other short-term senior unsecured debt obligations (other than such obligations the rating of which is based on the credit of a Person other than such depository institution or trust company) of such depository institution or trust company shall have a credit rating from Standard & Poor’s of A-1+, from Moody’s of Prime-1 and from Fitch of F1+ (if rated by Fitch);

(c) commercial paper and demand notes investing solely in commercial paper having, at the time of the investment or contractual commitment to invest therein, a rating from Standard & Poor’s of A-1+, from Moody’s of Prime-1 and from Fitch of F1+ (if rated by Fitch);

(d) investments in money market funds (including funds for which the Trust Collateral Agent or the Owner Trustee in each of their individual capacities or any of their respective Affiliates is investment manager, controlling party or advisor) having a rating from Standard & Poor’s of AAA-m or AAAm-G, from Moody’s of Aaa and from Fitch of AAA/V1+ (if rated by Fitch) and having been approved by the Insurer;

(e) bankers’ acceptances issued by any depository institution or trust company referred to in clause (b) above;

(f) repurchase obligations with respect to any security that is a direct obligation of, or fully guaranteed by, the United States of America or any agency or instrumentality thereof the obligations of which are backed by the full faith and credit of the United States of America, in either case entered into with a depository institution or trust company (acting as principal) referred to in clause (b) above;

(g) any other investment which would satisfy the Rating Agency Condition and is consistent with the ratings of the Securities (any investment identified to the Rating Agencies prior to the Closing Date and made on the Closing Date, or as soon after the Closing Date as is reasonably practicable, shall be deemed to satisfy the Rating Agency Condition and to be consistent with the ratings of the Securities, upon the assignment of initial ratings of the Securities by the Rating Agencies on the Closing Date) and which, so long as no Insurer Default shall have occurred and be continuing, has been approved by the Insurer, or any other investment that by its terms converts to cash within a finite period, if the Rating Agency Condition is satisfied with respect thereto; and

(h) cash denominated in United States dollars.

Any of the foregoing Eligible Investments may be purchased by or through the Owner Trustee or the Trust Collateral Agent or any of their respective Affiliates.

Exchange Act” means the Securities Exchange Act of 1934, as amended.

FDIC” means the Federal Deposit Insurance Corporation.

 

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Final Scheduled Distribution Date” means with respect to (i) the Class A-1 Notes, the March 7, 2011 Distribution Date, (ii) the Class A-2 Notes, the November 6, 2013 Distribution Date and (iii) the Class A-3 Notes, the July 6, 2017 Distribution Date.

Financed Vehicle” means an automobile or light-duty truck, van or minivan, together with all accessions thereto, securing an Obligor’s indebtedness under the respective Receivable.

Fitch” means Fitch, Inc., or its successor.

Force-Placed Insurance” has the meaning ascribed thereto in Section 4.4 hereof.

Indemnification Agreement” means the Indemnification Agreement dated as of March 25, 2010, among the Insurer, the Seller and Credit Suisse Securities (USA) LLC and RBS Securities Inc., as the Underwriters.

Indenture” means the Indenture dated as of March 25, 2010, between the Issuer and Wells Fargo Bank, National Association, as Trust Collateral Agent and Trustee, as the same may be amended and supplemented from time to time.

Independent Accountants” shall have the meaning set forth in Section 4.11(a).

Insolvency Event” means, with respect to a specified Person, (a) the filing of a petition against such Person or the entry of a decree or order for relief by a court having jurisdiction in the premises in respect of such Person or any substantial part of its property in an involuntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator, or similar official for such Person or for any substantial part of its property, or ordering the winding-up or liquidation or such Person’s affairs, and such petition, decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or (b) the commencement by such Person of a voluntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by such Person to the entry of an order for relief in an involuntary case under any such law, or the consent by such Person to the appointment of or taking possession by, a receiver, liquidator, assignee, custodian, trustee, sequestrator, or similar official for such Person or for any substantial part of its property, or the making by such Person of any general assignment for the benefit of creditors, or the failure by such Person generally to pay its debts as such debts become due, or the taking of action by such Person in furtherance of any of the foregoing.

Insurance Add-On Amount” means the premium charged to the Obligor in the event that the Servicer obtains Force-Placed Insurance pursuant to Section 4.4.

Insurance Agreement” means the Insurance and Indemnity Agreement, dated as of March 25, 2010, among the Insurer, the Trust, the Seller, AmeriCredit Corp. and AmeriCredit, as the same may be amended or supplemented from time to time.

Insurance Agreement Event of Default” means an “Event of Default” as defined in the Insurance Agreement.

 

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Insurance Policy” means, with respect to a Receivable, any insurance policy (including the insurance policies described in Section 4.4 hereof) benefiting the holder of the Receivable providing loss or physical damage, credit life, credit disability, theft, mechanical breakdown or similar coverage with respect to the Financed Vehicle or the Obligor.

Insured Distribution Date” means the twelfth day of each month, or, if such twelfth day is not a Business Day, the next following Business Day. In the event that, on any Distribution Date, the Noteholders did not receive the full amount of the Scheduled Payment (as defined in the Note Policy) then due to them, such shortfall (together with, in the case of an interest shortfall, interest thereon at the related Interest Rate) shall be due and payable and shall be funded on the Insured Distribution Date either from the Spread Account (if any amounts remain available to be drawn therefrom following application of amounts on deposit therein on the related Distribution Date) or from the proceeds of a drawing under the Note Policy. The Record Date applicable to an Insured Distribution Date shall be the Record Date applicable to the related Distribution Date.

Insurer” means Assured Guaranty Corp., a Maryland domiciled insurance company, or any successor thereto, as issuer of the Note Policy.

Insurer Default” means the occurrence and continuance of any of the following events:

(a) the Insurer shall have failed to make a payment required under the Note Policy in accordance with its terms;

(b) the Insurer shall have (i) filed a petition or commenced any case or proceeding under any provision or chapter of the United States Bankruptcy Code or any other similar federal or state law relating to insolvency, bankruptcy, rehabilitation based on actual or threatened insolvency, liquidation or reorganization, (ii) made a general assignment for the benefit of its creditors, or (iii) had an order for relief entered against it under the United States Bankruptcy Code or any other similar federal or state law relating to insolvency, bankruptcy, rehabilitation based on actual or threatened insolvency, liquidation or reorganization which is final and nonappealable; or

(c) a court of competent jurisdiction, the Maryland Insurance Administration or other competent regulatory authority shall have entered a final and nonappealable order, judgment or decree (i) appointing a custodian, trustee, agent or receiver for the Insurer or for all or any material portion of its property or (ii) authorizing the taking of possession by a custodian, trustee, agent or receiver of the Insurer (or the taking of possession of all or any material portion of the property of the Insurer).

Insurer Optional Deposit” means, with respect to any Insured Distribution Date, an amount delivered by the Insurer pursuant to Section 5.11, at its sole option, other than amounts in respect of a Note Policy Claim Amount, to the Trust Collateral Agent for deposit into the Collection Account for any of the following purposes: (i) to provide funds in respect of the payment of fees or expenses of any provider of services to the Trust with respect to such Insured Distribution Date; or (ii) to include such amount as part of the Additional Funds Available for such Insured Distribution Date to the extent that without such amount a draw would be required to be made on the Note Policy.

 

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Interest Period” means, with respect to any Distribution Date, the period from and including the most recent Distribution Date on which interest has been paid (or in the case of the first Distribution Date, from and including the Closing Date) to, but excluding, the following Distribution Date. In the case of the first Distribution Date, the Interest Period shall be 36 days for the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes.

Interest Rate” means, with respect to (i) the Class A-1 Notes, 0.31327% per annum (computed on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period), (ii) the Class A-2 Notes, 1.46% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months and (iii) the Class A-3 Notes, 3.51% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months.

Investment Company Act” means the Investment Company Act of 1940.

Investment Earnings” means, with respect to any date of determination and Trust Accounts, the investment earnings on amounts on deposit in such Trust Accounts on such date.

Issuer” means AmeriCredit Automobile Receivables Trust 2010-A.

Issuer Secured Parties” means each of the Trustee in respect of the Trustee Issuer Secured Obligations and the Insurer in respect of the Insurer Issuer Secured Obligations.

Lien” means a security interest, lien, charge, pledge, equity, or encumbrance of any kind, other than tax liens, mechanics’ liens and any liens that attach to the respective Receivable by operation of law as a result of any act or omission by the related Obligor.

Lien Certificate” means, with respect to a Financed Vehicle, an original certificate of title, certificate of lien or other notification issued by the Registrar of Titles of the applicable state to a secured party which indicates that the lien of the secured party on the Financed Vehicle is recorded on the original certificate of title. In any jurisdiction in which the original certificate of title is required to be given to the Obligor, the term “Lien Certificate” shall mean only a certificate or notification issued to a secured party. For Financed Vehicles registered in states which issue confirmation of the lienholder’s interest electronically, the “Lien Certificate” may consist of notification of an electronic recordation, by either a third party service provider or the relevant Registrar of Titles of the applicable state, which indicates that the lien of the secured party on the Financed Vehicle is recorded on the original certificate of title on the electronic lien and title system of the applicable state.

Liquidated Receivable” means, with respect to any Collection Period, a Receivable for which, as of the last day of the Collection Period (i) 90 days have elapsed since the Servicer repossessed the Financed Vehicle; provided, however, that in no case shall 10% or more of a Scheduled Receivables Payment have become 210 or more days delinquent in the case of a repossessed Financed Vehicle, (ii) the Servicer has determined in good faith that all amounts it expects to recover have been received, (iii) 10% or more of a Scheduled Receivables Payment shall have become 120 or more days delinquent, except in the case of a repossessed Financed Vehicle, or (iv) that is, without duplication, a Sold Receivable.

 

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Liquidation Proceeds” means, with respect to a Liquidated Receivable, all amounts realized with respect to such Receivable (other than amounts withdrawn from the Spread Account and drawings under the Note Policy), and, with respect to a Sold Receivable, the related Sale Amount.

Lockbox Account” means an account maintained on behalf of the Trust Collateral Agent by the Lockbox Bank pursuant to Section 4.2(d).

Lockbox Account Agreement” means the Lockbox Account Agreement, dated as of March 25, 2010, by and among AmeriCredit, JPMorgan Chase Bank, N.A. and the Trust Collateral Agent, as such agreement may be amended or supplemented from time to time, unless the Trust Collateral Agent shall cease to be a party thereunder, or such agreement shall be terminated in accordance with its terms, in which event “Lockbox Account Agreement” shall mean any replacement agreement, in form and substance acceptable to the Controlling Party, among the Servicer, the Trust Collateral Agent and the Lockbox Bank.

Lockbox Agreements” means collectively, the Lockbox Account Agreement and the Lockbox Processing Agreement.

Lockbox Bank” means a depository institution named by the Servicer and acceptable to the Controlling Party.

Lockbox Processing Agreement” means the Lockbox Processing Agreement, dated as of March 25, 2010, by and among the Lockbox Processor, the Servicer and the Trust Collateral Agent, as such agreement may be amended or supplemented from time to time in accordance with its terms.

Lockbox Processor” means Regulus Group II LLC, or its successors or assigns.

Minimum Sale Price” means (i) with respect to a Receivable (x) that has become 60 to 210 days delinquent or (y) that has become greater than 210 days delinquent and with respect to which the related Financed Vehicle has been repossessed by the Servicer and has not yet been sold at auction, the greater of (A) 55% multiplied by the Principal Balance of such Receivable and (B) the product of the three month rolling average recovery rate (expressed as a percentage) for the Servicer in its liquidation of all receivables for which it acts as servicer, either pursuant to this Agreement or otherwise, multiplied by the Principal Balance of such Receivable or (ii) with respect to a Receivable (x) with respect to which the related Financed Vehicle has been repossessed by the Servicer and has been sold at auction and the Net Liquidation Proceeds for which have been deposited in the Collection Account, or (y) that has become greater than 210 days delinquent and with respect to which the related Financed Vehicle has not been repossessed by the Servicer despite the Servicer’s diligent efforts, consistent with its servicing obligations, to repossess the Financed Vehicle, $1.

Monthly Extension Rate” means, with respect to any Accounting Date, the fraction, expressed as a percentage, the numerator of which is the aggregate Principal Balance of Receivables whose payments are extended during the related Collection Period and the denominator of which is the aggregate Principal Balance of Receivables as of the immediately preceding Accounting Date.

 

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Monthly Records” means all records and data maintained by the Servicer with respect to the Receivables, including the following with respect to each Receivable: the account number; the originating Dealer; Obligor name; Obligor address; Obligor home phone number; Obligor business phone number; original Principal Balance; original term; Annual Percentage Rate; current Principal Balance; current remaining term; origination date; first payment date; final scheduled payment date; next payment due date; date of most recent payment; new/used classification; collateral description; days currently delinquent; number of contract extensions (months) to date; amount of Scheduled Receivables Payment; current Insurance Policy expiration date; and past due late charges.

Monthly Tape” has the meaning set forth in Section 4.13 hereof.

Moody’s” means Moody’s Investors Service, Inc., or its successor.

Net Liquidation Proceeds” means, with respect to a Liquidated Receivable, Liquidation Proceeds net of (i) reasonable expenses incurred by the Servicer in connection with the collection of such Receivable and the repossession and disposition of the Financed Vehicle and (ii) amounts that are required to be refunded to the Obligor on such Receivable; provided, however, that the Net Liquidation Proceeds with respect to any Receivable shall in no event be less than zero.

Note Distribution Account” means the account designated as such, established and maintained pursuant to Section 5.1.

Note Majority” means a majority by principal amount of the Noteholders.

Note Policy” means the financial guaranty insurance policy issued by the Insurer to the Trust Collateral Agent, as agent for the Trustee, for the benefit of the Noteholders.

Note Policy Claim Amount” means, for any Insured Distribution Date, the sum of (x) the excess, if any (without duplication) of (i) the sum of the Noteholders’ Interest Distributable Amount and the Noteholders’ Remaining Parity Deficit Amount for the related Distribution Date (excluding any portion of a Noteholders’ Interest Distributable Amount due to Noteholders representing interest on any Noteholders’ Interest Carryover Amount accrued from and including the date of payment of the amount of such Noteholders’ Interest Carryover Amount, unless the Insurer elects, in its sole discretion, to pay such amounts in whole or in part, pursuant to the Note Policy), together with, if such related Distribution Date was the Final Scheduled Distribution Date for any Class, the unpaid principal balance of such Class over (ii) the sum of (a) the amount actually deposited into the Note Distribution Account on such related Distribution Date (without duplication of any Deficiency Claim Amount received by the Trustee and included in Additional Funds Available) and (b) the Additional Funds Available, if any, for such Insured Distribution Date plus (y) the Noteholders’ Interest Carryover Amount, if any, which has accrued since the related Distribution Date.

Note Pool Factor” for each Class of Notes as of the close of business on any date of determination means a seven-digit decimal figure equal to the outstanding principal amount of such Class of Notes divided by the original outstanding principal amount of such Class of Notes.

 

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Noteholders’ Accelerated Principal Amount” means, with respect to any Distribution Date, the Noteholders’ Percentage of the Accelerated Principal Amount on such Distribution Date, if any.

Noteholders’ Interest Carryover Amount” means, with respect to any Class of Notes and any date of determination, all or any portion of the Noteholders’ Interest Distributable Amount for the Class of Notes for the immediately preceding Distribution Date, which remains unpaid as of such date of determination, plus interest on such unpaid amount, to the extent permitted by law, at the respective Interest Rate borne by the applicable Class of Notes from such immediately preceding Distribution Date to but excluding such date of determination.

Noteholders’ Interest Distributable Amount” means, with respect to any Distribution Date and Class of Notes, the sum of the Noteholders’ Monthly Interest Distributable Amount for such Distribution Date and each Class of Notes and the Noteholders’ Interest Carryover Amount, if any, for such Distribution Date and each such Class. Interest on the Class A-1 Notes shall be computed on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period. Interest on the Class A-2 Notes and the Class A-3 Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months, except with respect to the first Interest Period when it will be calculated on the basis of a 360-day year and the actual number of days elapsed in the first Interest Period.

Noteholders’ Monthly Interest Distributable Amount” means, with respect to any Distribution Date and any Class of Notes, interest accrued at the respective Interest Rate during the applicable Interest Period on the principal amount of the Notes of such Class outstanding as of the end of the prior Distribution Date (or, in the case of the first Distribution Date, as of the Closing Date); provided, that if such principal balance is further reduced by a payment of principal on the Insured Distribution Date which immediately follows such prior Distribution Date, then such interest shall accrue (i) from and including such prior Distribution Date to, but excluding, such related Insured Distribution Date, on the principal balance outstanding as of the end of the prior Distribution Date (or, in the case of the first Distribution Date, as of the Closing Date) and (ii) from and including such Insured Distribution Date, to, but excluding, the following Distribution Date, on the principal balance outstanding as of the end of such Insured Distribution Date, calculated (x) for the Class A-1 Notes, on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period and (y) for the Class A-2 Notes and the Class A-3 Notes, on the basis of a 360-day year consisting of twelve 30-day months (without adjustment for the actual number of business days elapsed in the applicable Interest Period), except with respect to the first Interest Period.

Noteholders’ Monthly Principal Distributable Amount” means, with respect to any Distribution Date, the Noteholders’ Percentage of the Principal Distributable Amount.

Noteholders’ Parity Deficit Amount” means, with respect to any Distribution Date, the excess, if any, of (x) the aggregate remaining principal balance of the Notes outstanding on such Distribution Date, after giving effect to all reductions in such aggregate principal balance from sources other than (i) the Spread Account and (ii) the Note Policy over (y) the Pool Balance at the end of the prior calendar month.

 

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Noteholders’ Percentage” means with respect to any Determination Date (i) relating to a Distribution Date prior to the Distribution Date on which the combined principal amount of the Class A-3 Notes is reduced to zero, 100%; (ii) relating to the Distribution Date on which the combined principal amount of the Class A-3 Notes is scheduled to be reduced to zero, the percentage equivalent of a fraction, the numerator of which is the combined outstanding principal balance of the Class A-3 Notes that remain unpaid immediately prior to such Distribution Date, and the denominator of which is the Principal Distributable Amount for such Distribution Date; and (iii) relating to any other Distribution Date, 0%.

Noteholders’ Principal Carryover Amount” means, as of any date of determination, all or any portion of the Noteholders’ Principal Distributable Amount from the preceding Distribution Date which remains unpaid as of such date of determination.

Noteholders’ Principal Distributable Amount” means, with respect to any Distribution Date, (other than the Final Scheduled Distribution Date for any Class of Notes), the sum of the Noteholders’ Monthly Principal Distributable Amount for such Distribution Date and the Noteholders’ Principal Carryover Amount, if any, as of the close of business on the preceding Distribution Date. The Noteholders’ Principal Distributable Amount on the Final Scheduled Distribution Date for any Class of Notes will equal the sum of (i) the Noteholders’ Monthly Principal Distributable Amount for such Distribution Date, (ii) the Noteholders’ Principal Carryover Amount as of such Distribution Date, and (iii) the excess of the outstanding principal amount of such Class of Notes, if any, over the amounts described in clauses (i) and (ii).

Noteholders’ Remaining Parity Deficit Amount” means, with respect to any Distribution Date, the Noteholders’ Parity Deficit Amount for such Distribution Date minus any reduction in the aggregate principal balance of the Notes made on such Distribution Date with funds withdrawn from the Spread Account.

Obligor” on a Receivable means the purchaser or co-purchasers of the Financed Vehicle and any other Person who owes payments under the Receivable.

Officers’ Certificate” means a certificate signed by the chief executive officer, the president, any executive vice president, any senior vice president, any vice president, any assistant vice president, any treasurer, any assistant treasurer, any secretary or any assistant secretary of the Seller or the Servicer, as appropriate.

Opinion of Counsel” means a written opinion of counsel reasonably acceptable to the Insurer, which opinion is satisfactory in form and substance to the Trust Collateral Agent and, if such opinion or a copy thereof is required by the provisions of this Agreement to be delivered to the Insurer, to the Insurer.

Original Pool Balance” means the Pool Balance as of the Cutoff Date.

Originating Affiliate” means an Affiliate of AmeriCredit that has originated Receivables and assigned its full interest therein to AmeriCredit.

Other Conveyed Property” means all property conveyed by the Seller to the Trust pursuant to Section 2.1(b) through (i) of this Agreement.

 

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Owner Trust Estate” has the meaning assigned to such term in the Trust Agreement.

Owner Trustee” means Wilmington Trust Company, not in its individual capacity but solely as Owner Trustee under the Trust Agreement, its successors in interest or any successor Owner Trustee under the Trust Agreement.

Person” means any individual, corporation, estate, partnership, joint venture, association, joint stock company, trust (including any beneficiary thereof), unincorporated organization or government or any agency or political subdivision thereof.

Physical Property” has the meaning assigned to such term in the definition of “Delivery” above.

Pool Balance” means, as of any date of determination, the aggregate Principal Balance of the Receivables (excluding Purchased Receivables and Liquidated Receivables) at the end of the preceding calendar month.

Preliminary Servicer’s Certificate” means an Officers’ Certificate of the Servicer delivered pursuant to Section 4.9(a), substantially in the form of Exhibit B.

Premium” has the meaning assigned to such term in the Insurance Agreement.

Principal Balance” means, with respect to any Receivable, as of any date, the sum of (x) the Amount Financed minus (i) that portion of all amounts received on or prior to such date and allocable to principal in accordance with the terms of the Receivable and (ii) any Cram Down Loss in respect of such Receivable plus (y) the accrued and unpaid interest on such Receivable.

Principal Distributable Amount” means, with respect to any Distribution Date, the amount equal to the excess, if any, of (x) the sum of (i) the principal portion of all Collected Funds received during the immediately preceding Collection Period (other than Liquidated Receivables and Purchased Receivables), (ii) the Principal Balance of all Receivables that became Liquidated Receivables during the related Collection Period (other than Purchased Receivables), (iii) the principal portion of the Purchase Amounts received with respect to all Receivables that became Purchased Receivables during the related Collection Period, (iv) in the sole discretion of the Insurer, the Principal Balance of all the Receivables that were required to be purchased pursuant to Sections 3.2 and 4.7, during such Collection Period but were not purchased, (v) the aggregate amount of Cram Down Losses that shall have occurred during the related Collection Period; and (vi) following the acceleration of the Notes pursuant to Section 5.2 of the Indenture, the amount of money or property collected pursuant to Section 5.4 of the Indenture since the preceding Determination Date by the Trust Collateral Agent or Controlling Party for distribution pursuant to Section 5.7 hereof over (y) the Step-Down Amount, if any, for such Distribution Date.

Pro Forma Note Balance” means, with respect to any Distribution Date, the aggregate remaining principal amount of the Notes outstanding on such Distribution Date, after giving effect to distributions pursuant to clauses (i) through (iv) of Section 5.7(a) hereof.

 

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Prospectus Supplement” means the prospectus supplement, dated as of March 26, 2010, relating to the offering of the Notes, as filed with the Commission.

Purchase Agreement” means the Purchase Agreement between the Seller and AmeriCredit, dated as of March 25, 2010, pursuant to which the Seller acquires the Receivables, as such Agreement may be amended from time to time.

Purchase Amount” means, with respect to a Purchased Receivable, the Principal Balance and all accrued and unpaid interest on the Receivable, after giving effect to the receipt of any moneys collected (from whatever source) on such Receivable, if any.

Purchased Receivable” means a Receivable purchased as of the close of business on the last day of a Collection Period by the Servicer pursuant to Sections 4.2, 4.4(c), or 4.7 or repurchased by the Seller or the Servicer pursuant to Section 3.2 or Section 10.1(a).

Rating Agency” means Moody’s and Standard & Poor’s. If no such organization or successor maintains a rating on the Securities, “Rating Agency” shall be a nationally recognized statistical rating organization or other comparable Person designated by the Seller and acceptable to the Insurer (so long as an Insurer Default shall not have occurred and be continuing), notice of which designation shall be given to the Trust Collateral Agent, the Owner Trustee and the Servicer.

Rating Agency Condition” means, with respect to any action, that each of Moody’s and Standard & Poor’s shall have been given 10 days’ (or such shorter period as shall be acceptable to each Rating Agency) prior notice thereof and that (a) with respect to Standard & Poor’s, such Rating Agency has notified the Seller, the Servicer, the Insurer, the Owner Trustee and the Trust Collateral Agent in writing that such action will not result in a reduction or withdrawal of the then current rating of any Class of Notes, without taking into account the presence of the Note Policy, and (b) with respect to Moody’s, such Rating Agency has not notified the Seller, the Servicer, the Insurer, the Owner Trustee or the Trust Collateral Agent in writing that such action will result in a reduction or withdrawal of the then current rating of any Class of Notes.

Realized Losses” means, with respect to any Receivable that becomes a Liquidated Receivable, the excess of the Principal Balance of such Liquidated Receivable over Net Liquidation Proceeds to the extent allocable to principal.

Receivables” means the Contracts listed on Schedule A attached hereto (which Schedule may be in the form of microfiche or a disk).

Receivable Files” means the documents specified in Section 3.3.

Record Date” means, with respect to each Distribution Date, the Business Day immediately preceding such Distribution Date, unless otherwise specified in the Indenture. The “Record Date” for any Insured Distribution Date shall be the “Record Date” applicable to the related Distribution Date.

 

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Registrar of Titles” means, with respect to any state, the governmental agency or body responsible for the registration of, and the issuance of certificates of title relating to, motor vehicles and liens thereon.

Regulation AB” means Subpart 229.1100—Asset Backed Securities (Regulation AB), 17 C.F.R. §§229.1100-229.1123, as such may be amended from time to time and subject to such clarification and interpretation as have been provided by the Commission in the adopting release (Asset-Backed Securities, Securities Act Release No. 33-8518.70 Fed. Reg. 1,506,1,531 (January 7, 2005)) or by the staff of the Commission, or as may be provided by the Commission or its staff from time to time.

Required Pro Forma Note Balance” means, with respect to any Distribution Date, a dollar amount equal to the product of (x) the difference between (i) 100% and (ii) the “OC Level” (as defined in the Spread Account Agreement), which may step down over time in accordance with the terms of the Spread Account Agreement (which difference will initially equal 77.0%) and (y) the Pool Balance as of the end of the prior calendar month.

Requisite Amount” has the meaning specified in the Spread Account Agreement.

Responsible Officer” means, with respect to any Person, any Executive Vice President, Senior Vice President, Vice President, Assistant Vice President, Treasurer, Assistant Treasurer, Secretary, Assistant Secretary, or any other officer of such Person customarily performing functions similar to those performed by any of the above designated officers and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject.

Sale Amount” means, with respect to any Sold Receivable, the amount received from the related third-party purchaser as payment for such Sold Receivable.

Sale and Servicing Agreement Collateral” has the meaning specified in Section 2.4 hereof.

Schedule of Receivables” means the schedule of all motor vehicle retail installment sales contracts and promissory notes originally held as part of the Trust which is attached as Schedule A (which Schedule may be in the form of microfiche or a disk).

Schedule of Representations” means the Schedule of Representations and Warranties attached hereto as Schedule B.

Scheduled Receivables Payment” means, with respect to any Collection Period for any Receivable, the amount set forth in such Receivable as required to be paid by the Obligor in such Collection Period. If after the Closing Date, the Obligor’s obligation under a Receivable with respect to a Collection Period has been modified so as to differ from the amount specified in such Receivable as a result of (i) the order of a court in an insolvency proceeding involving the Obligor, (ii) pursuant to the Servicemembers Civil Relief Act or (iii) modifications or extensions of the Receivable permitted by Section 4.2(b), the Scheduled Receivables Payment with respect to such Collection Period shall refer to the Obligor’s payment obligation with respect to such Collection Period as so modified.

 

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Seller” means AFS SenSub Corp., a Nevada corporation, and its successors in interest to the extent permitted hereunder.

Service Contract” means, with respect to a Financed Vehicle, the agreement, if any, financed under the related Receivable that provides for the repair of such Financed Vehicle.

Servicer” means AmeriCredit Financial Services, Inc., as the servicer of the Receivables, and each successor servicer pursuant to Section 9.3.

Servicer Termination Event” means an event specified in Section 9.1.

Servicer’s Certificate” means an Officers’ Certificate of the Servicer delivered pursuant to Section 4.9(b), substantially in the form of Exhibit A.

Servicing Fee” has the meaning specified in Section 4.8.

Servicing Fee Rate” means 2.25% per annum.

Simple Interest Method” means the method of allocating a fixed level payment on an obligation between principal and interest, pursuant to which the portion of such payment that is allocated to interest is equal to the product of the fixed rate of interest on such obligation multiplied by the period of time (expressed as a fraction of a year, based on the actual number of days in the calendar month and 365 days in the calendar year) elapsed since the preceding payment under the obligation was made.

Sold Receivable” means a Receivable that was more than 60 days delinquent and was sold to an unaffiliated third party by the Issuer, at the Servicer’s direction, as of the close of business on the last day of a Collection Period and in accordance with the provisions of Section 4.3(c) hereof.

Spread Account” means the account designated as such, established and maintained pursuant to the Spread Account Agreement.

Spread Account Agreement” means the Spread Account Agreement dated as of March 25, 2010, among the Insurer, the Issuer and the Collateral Agent, as the same may be modified, supplemented or otherwise amended in accordance with the terms thereof.

Spread Account Initial Deposit” means an amount equal to 2.0% of the aggregate Principal Balance of the Receivables on the Cutoff Date (which is equal to $4,761,997.16).

Standard & Poor’s” means Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business, or its successor.

Step-Down Amount” means, with respect to any Distribution Date, the excess, if any, of (x) the Required Pro Forma Note Balance over (y) the Pro Forma Note Balance on such Distribution Date, calculated for this purpose only without deduction for any Step-Down Amount (i.e., assuming that the entire amount described in clause (x) of the definition of “Principal Distributable Amount” is distributed as principal on the Notes).

 

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Substitution of Collateral Criteria” means AmeriCredit’s written criteria for substitution of collateral as delivered by AmeriCredit to the Insurer on or before the Closing Date, as amended by revisions to such criteria as may be delivered by AmeriCredit to the Insurer upon request.

Supplemental Servicing Fee” means, with respect to any Collection Period, all administrative fees, expenses and charges paid by or on behalf of Obligors, including late fees, prepayment fees and liquidation fees collected on the Receivables during such Collection Period but excluding any fees or expenses related to extensions.

Third-Party Lender” means an entity that originated a loan to a consumer for the purchase of a motor vehicle and sold the loan to AmeriCredit or an Originating Affiliate pursuant to an Auto Loan Purchase and Sale Agreement.

Third-Party Lender Assignment” means, with respect to a Receivable, the executed assignment executed by a Third-Party Lender conveying such Receivable to AmeriCredit or an Originating Affiliate.

Titled Third-Party Lender” means a Third-Party Lender that has agreed to assist AmeriCredit or any successor servicer, to the extent necessary, with any repossession or legal action in respect of Financed Vehicles with respect to which such Third-Party Lender has assigned its full interest therein to AmeriCredit or an Originating Affiliate and is listed as first lienholder or secured party on the Lien Certificate relating to such Financed Vehicle.

Trigger Event” has the meaning assigned thereto in the Spread Account Agreement.

Trust” means the Issuer.

Trust Account Property” means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing.

Trust Accounts” has the meaning assigned thereto in Section 5.1.

Trust Agreement” means the Trust Agreement dated as of March 5, 2010, between the Seller and the Owner Trustee, as amended and restated as of March 25, 2010, as the same may be amended and supplemented from time to time.

Trust Collateral Agent” means the Person acting as Trust Collateral Agent hereunder, its successors in interest and any successor Trust Collateral Agent hereunder.

Trust Officer” means, (i) in the case of the Trust Collateral Agent, the chairman or vice-chairman of the board of directors, any managing director, the chairman or vice-chairman of the executive committee of the board of directors, the president, any vice president, assistant vice president, the secretary, any assistant secretary, the treasurer, any assistant treasurer, the cashier, any assistant cashier, any trust officer or assistant trust officer, the controller and any

 

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assistant controller or any other officer of the Trust Collateral Agent customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject, and (ii) in the case of the Owner Trustee, any officer in the corporate trust office of the Owner Trustee or any agent of the Owner Trustee under a power of attorney with direct responsibility for the administration of this Agreement or any of the Basic Documents on behalf of the Owner Trustee.

Trust Property” means the property and proceeds conveyed pursuant to Section 2.1, together with certain monies paid on or after the Cutoff Date, the Collection Account (including all Eligible Investments therein and all proceeds therefrom), the Spread Account, the Lockbox Account, the Note Distribution Account (including all Eligible Investments therein and all proceeds therefrom) and certain other rights under this Agreement.

Trustee” means the Person acting as Trustee under the Indenture, its successors in interest and any successor trustee under the Indenture.

UCC” means the Uniform Commercial Code as in effect in the relevant jurisdiction on the date of the Agreement.

SECTION 1.2. Other Definitional Provisions.

(a) Capitalized terms used herein and not otherwise defined herein have meanings assigned to them in the Indenture, or, if not defined therein, in the Trust Agreement.

(b) All terms defined in this Agreement shall have the defined meanings when used in any instrument governed hereby and in any certificate or other document made or delivered pursuant hereto unless otherwise defined therein.

(c) As used in this Agreement, in any instrument governed hereby and in any certificate or other document made or delivered pursuant hereto or thereto, accounting terms not defined in this Agreement or in any such instrument, certificate or other document, and accounting terms partly defined in this Agreement or in any such instrument, certificate or other document to the extent not defined, shall have the respective meanings given to them under generally accepted accounting principles as in effect on the date of this Agreement or any such instrument, certificate or other document, as applicable. To the extent that the definitions of accounting terms in this Agreement or in any such instrument, certificate or other document are inconsistent with the meanings of such terms under generally accepted accounting principles, the definitions contained in this Agreement or in any such instrument, certificate or other document shall control.

(d) The words “hereof,” “herein,” “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement; Section, Schedule and Exhibit references contained in this Agreement are references to Sections, Schedules and Exhibits in or to this Agreement unless otherwise specified; and the term “including” shall mean “including without limitation.”

 

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(e) The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such terms.

(f) Any agreement, instrument or statute defined or referred to herein or in any instrument or certificate delivered in connection herewith means such agreement, instrument or statute as from time to time amended, modified or supplemented and includes (in the case of agreements or instruments) references to all attachments thereto and instruments incorporated therein; references to a Person are also to its permitted successors and assigns.

ARTICLE II

Conveyance of Receivables

SECTION 2.1. Conveyance of Receivables. In consideration of the Issuer’s delivery to or upon the order of the Seller on the Closing Date of the net proceeds from the sale of the Notes and the other amounts to be distributed from time to time to the Seller in accordance with the terms of this Agreement, the Seller does hereby sell, transfer, assign, set over and otherwise convey to the Issuer, without recourse (subject to the Seller’s obligations set forth herein) and the Issuer hereby purchases, all right, title and interest of the Seller in and to the following property, whether now owned or existing or hereafter acquired or arising:

(a) the Receivables and all moneys received thereon after the Cutoff Date;

(b) the security interests in the Financed Vehicles granted by Obligors pursuant to the Receivables and any other interest of the Seller in such Financed Vehicles;

(c) any proceeds and the right to receive proceeds with respect to the Receivables from claims on any physical damage, credit life or disability insurance policies covering Financed Vehicles or Obligors and any proceeds from the liquidation of the Receivables;

(d) any proceeds from any Receivable repurchased by a Dealer pursuant to a Dealer Agreement or a Third-Party Lender pursuant to an Auto Loan Purchase and Sale Agreement as a result of a breach of representation or warranty in the related Dealer Agreement or Auto Loan Purchase and Sale Agreement;

(e) all rights under any Service Contracts on the related Financed Vehicles;

(f) the related Receivable Files;

(g) all of the Seller’s right, title and interest in its rights and benefits, but none of its obligations or burdens, under the Purchase Agreement, and the delivery requirements, representations and warranties and the cure and repurchase obligations of AmeriCredit under the Purchase Agreement;

 

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(h) all of the Seller’s (i) Accounts, (ii) Chattel Paper, (iii) Documents, (iv) Instruments and (v) General Intangibles (as such terms are defined in the UCC) relating to the property described in (a) through (g); and

(i) all proceeds and investments with respect to items (a) through (h).

SECTION 2.2. [Reserved].

SECTION 2.3. Further Encumbrance of Trust Property.

(a) Immediately upon the conveyance to the Trust by the Seller of any item of the Trust Property pursuant to Section 2.1, all right, title and interest of the Seller in and to such item of Trust Property shall terminate, and all such right, title and interest shall vest in the Trust, in accordance with the Trust Agreement and Sections 3802 and 3805 of the Statutory Trust Statute (as defined in the Trust Agreement).

(b) Immediately upon the vesting of the Trust Property in the Trust, the Trust shall have the sole right to pledge or otherwise encumber, such Trust Property. Pursuant to the Indenture, the Trust shall grant a security interest in the Trust Property (other than to the Spread Account) to the Trust Collateral Agent and pursuant to the Spread Account Agreement, the Trust shall grant a security interest in the Spread Account to the Collateral Agent, in each case securing the repayment of the Notes. The Certificates shall represent the beneficial ownership interest in the Trust Property, and the Certificateholders shall be entitled to receive distributions with respect thereto as set forth herein.

(c) Following the payment in full of the Notes and the release and discharge of the Indenture, all covenants of the Issuer under Article III of the Indenture shall, until payment in full of the Certificates, remain as covenants of the Issuer for the benefit of the Certificateholders, enforceable by the Certificateholders to the same extent as such covenants were enforceable by the Noteholders prior to the discharge of the Indenture. Any rights of the Trustee under Article III of the Indenture, following the discharge of the Indenture, shall vest in Certificateholders.

(d) The Trust Collateral Agent shall, at such time as there are no Notes or Certificates outstanding and all sums due to (i) the Trustee pursuant to the Indenture, (ii) the Insurer pursuant to the Insurance Agreement and (iii) the Trust Collateral Agent pursuant to this Agreement, have been paid, release any remaining portion of the Trust Property to the Seller.

SECTION 2.4. Intention of the Parties.

The execution and delivery of this Agreement shall constitute an acknowledgment by the Seller and the Issuer that they intend that the assignment and transfer herein contemplated constitute a sale and assignment outright, and not for security, of the Receivables and Other Conveyed Property, for non-tax purposes, conveying good title thereto free and clear of any Liens, from the Seller to the Issuer, and that the Receivables and the Other Conveyed Property shall not be a part of the Seller’s estate in the event of a bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other proceeding under any federal or state bankruptcy or similar law, or the occurrence of another similar event, of, or with respect to the Seller. In the

 

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event that such conveyance is determined to be made as security for a loan made by the Issuer, the Noteholders or the Certificateholder to the Seller, the Seller hereby grants to the Issuer a security interest in all of the Seller’s right, title and interest in and to the following property for the benefit of the Issuer Secured Parties, whether now owned or existing or hereafter acquired or arising, and this Agreement shall constitute a security agreement under applicable law (collectively, the “Sale and Servicing Agreement Collateral”):

(i) the Receivables and all moneys received thereon after the Cutoff Date;

(ii) the security interests in the Financed Vehicles granted by Obligors pursuant to the Receivables and any other interest of the Seller in such Financed Vehicles;

(iii) any proceeds and the right to receive proceeds with respect to the Receivables from claims on any physical damage, credit life or disability insurance policies covering Financed Vehicles or Obligors and any proceeds from the liquidation of the Receivables;

(iv) any proceeds from any Receivable repurchased by a Dealer pursuant to a Dealer Agreement or a Third-Party Lender pursuant to an Auto Loan Purchase and Sale Agreement as a result of a breach of representation or warranty in the related Dealer Agreement or Auto Loan Purchase and Sale Agreement;

(v) all rights under any Service Contracts on the related Financed Vehicles;

(vi) the related Receivable Files;

(vii) all of the Seller’s right, title and interest in its rights and benefits, but none of its obligations or burdens, under the Purchase Agreement, and the delivery requirements, representations and warranties and the cure and repurchase obligations of AmeriCredit under the Purchase Agreement;

(viii) all of the Seller’s (a) Accounts, (b) Chattel Paper, (c) Documents, (d) Instruments and (e) General Intangibles (as such terms are defined in the UCC) relating to the property described in (i) through (vii); and

(ix) all proceeds and investments with respect to items (i) through (viii).

ARTICLE III

The Receivables

SECTION 3.1. Representations and Warranties of Seller.

The Seller hereby represents and warrants that each of the representations and warranties set forth on the Schedule of Representations attached hereto as Schedule B is true and

 

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correct on which the Issuer is deemed to have relied in acquiring the Receivables and upon which the Insurer shall be deemed to rely in issuing the Note Policy. Such representations and warranties speak as of the execution and delivery of this Agreement and as of the Closing Date, but shall survive the sale, transfer and assignment of the Receivables to the Issuer and the pledge thereof to the Trust Collateral Agent pursuant to the Indenture and shall not be waived.

SECTION 3.2. Repurchase upon Breach. (a) The Seller, the Servicer, the Backup Servicer, the Insurer, the Trust Collateral Agent or the Owner Trustee, as the case may be, shall inform the other parties to this Agreement promptly, by notice in writing, upon the discovery of any breach of the Seller’s representations and warranties made pursuant to Section 3.1. As of the last day of the second (or, if the Seller so elects, the first) month following the discovery by the Seller or receipt by the Seller of notice of such breach, unless such breach is cured by such date, the Seller shall have an obligation to repurchase any Receivable in which the interests of the Noteholders or the Insurer are materially and adversely affected by any such breach as of such date. The “second month” shall mean the month following the month in which discovery occurs or notice is given, and the “first month” shall mean the month in which discovery occurs or notice is given. In consideration of and simultaneously with the repurchase of the Receivable, the Seller shall remit, or cause AmeriCredit to remit, to the Collection Account the Purchase Amount in the manner specified in Section 5.6 and the Issuer shall execute such assignments and other documents reasonably requested by such person in order to effect such repurchase. The sole remedy of the Issuer, the Owner Trustee, the Trust Collateral Agent, the Trustee, the Backup Servicer or the Noteholders with respect to a breach of representations and warranties pursuant to Section 3.1 and the agreement contained in this Section shall be the repurchase of Receivables (including any Receivable that is or was a Liquidated Receivable and is required to be repurchased) pursuant to this Section, subject to the conditions contained herein or to enforce the obligation of AmeriCredit to the Seller to repurchase such Receivables pursuant to the Purchase Agreement. Neither the Owner Trustee, the Trust Collateral Agent nor the Trustee shall have a duty to conduct any affirmative investigation as to the occurrence of any conditions requiring the repurchase of any Receivable pursuant to this Section.

In addition to the foregoing and notwithstanding whether the related Receivable shall have been purchased by the Seller, the Seller shall indemnify the Trust, the Trustee, the Backup Servicer, the Trust Collateral Agent, Collateral Agent and the officers, directors, agents and employees thereof, the Insurer, and the Noteholders against all costs, expenses, losses, damages, claims and liabilities, including reasonable fees and expenses of counsel, which may be asserted against or incurred by any of them as a result of third party claims arising out of the events or facts giving rise to such breach.

(b) Pursuant to Section 2.1 of this Agreement, the Seller conveyed to the Trust all of the Seller’s right, title and interest in its rights and benefits, but none of its obligations or burdens, under the Purchase Agreement including the Seller’s rights under the Purchase Agreement and the delivery requirements, representations and warranties and the cure or repurchase obligations of AmeriCredit thereunder. The Seller hereby represents and warrants to the Trust that such assignment is valid, enforceable and effective to permit the Trust to enforce such obligations of AmeriCredit under the Purchase Agreement. Any purchase by AmeriCredit pursuant to the Purchase Agreement shall be deemed a purchase by the Seller pursuant to this Section 3.2 and the definition of Purchased Receivable.

 

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SECTION 3.3. Custody of Receivable Files.

(a) In connection with the sale, transfer and assignment of the Receivables and the Other Conveyed Property to the Trust pursuant to this Agreement and simultaneously with the execution and delivery of this Agreement, the Trust Collateral Agent shall enter into the Custodian Agreement with the Custodian, dated as of March 25, 2010, pursuant to which the Trust Collateral Agent shall revocably appoint the Custodian, and the Custodian shall accept such appointment, to act as the agent of the Trust Collateral Agent as custodian of the following documents or instruments in its possession or control (the “Receivable Files”) which shall be delivered to the Custodian as agent of the Trust Collateral Agent on or before the Closing Date (with respect to each Receivable):

(i) The fully executed original (or with respect to “electronic chattel paper”, the authoritative copy) of the Contract; and

(ii) The Lien Certificate (when received), and otherwise such documents, if any, that AmeriCredit keeps on file in accordance with its customary procedures indicating that the Financed Vehicle is owned by the Obligor and subject to the interest of AmeriCredit (or an Originating Affiliate or a Titled Third-Party Lender) as first lienholder or secured party (including any Lien Certificate received by AmeriCredit), or, if such Lien Certificate has not yet been received, a copy of the application therefor, showing AmeriCredit (or an Originating Affiliate or a Titled Third-Party Lender) as secured party.

(b) If the Trust Collateral Agent is acting as the Custodian pursuant to Section 8 of the Custodian Agreement, the Trust Collateral Agent shall be deemed to have assumed the obligations of the Custodian (except for any liabilities incurred by the predecessor Custodian) specified in the Custodian Agreement until such time as a successor Custodian has been appointed. Upon payment in full of any Receivable, the Servicer will notify the Custodian pursuant to a certificate of an officer of the Servicer (which certificate shall include a statement to the effect that all amounts received in connection with such payments which are required to be deposited in the Collection Account pursuant to Section 4.1 have been so deposited) and shall request delivery of the Receivable and Receivable File to the Servicer. Upon the sale of any Receivable pursuant to Section 4.3(c) hereof, the Servicer will notify the Custodian pursuant to a certificate of an officer of the Servicer (which certificate shall include a statement to the effect that all amounts received in connection with such sale which are required to be deposited in the Collection Account pursuant to Section 4.3(c) have been so deposited) and shall request delivery of the Receivable and Receivable File to the purchaser of such Receivable. From time to time as appropriate for servicing and enforcing any Receivable, the Custodian shall, upon written request of an officer of the Servicer and delivery to the Custodian of a receipt signed by such officer, cause the original Receivable and the related Receivable File to be released to the Servicer. The Servicer’s receipt of a Receivable and/or Receivable File shall obligate the Servicer to return the original Receivable and the related Receivable File to the Custodian when its need by the Servicer has ceased unless the Receivable is repurchased as described in Section 3.2 , 4.2 or 4.7.

 

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ARTICLE IV

Administration and Servicing of Receivables

SECTION 4.1. Duties of the Servicer and the Backup Servicer.

(a) The Servicer is hereby authorized to act as agent for the Trust and in such capacity shall manage, service, administer and make collections on the Receivables, and perform the other actions required by the Servicer under this Agreement. The Servicer agrees that its servicing of the Receivables shall be carried out in accordance with customary and usual procedures of institutions which service motor vehicle retail installment sales contracts and, to the extent more exacting, the degree of skill and attention that the Servicer exercises from time to time with respect to all comparable motor vehicle receivables that it services for itself or others. In performing such duties, so long as AmeriCredit is the Servicer, it shall substantially comply with the policies and procedures described on Schedule C, as such policies and procedures may be updated from time to time. The Servicer’s duties shall include, without limitation, collection and posting of all payments, responding to inquiries of Obligors on the Receivables, investigating delinquencies, sending payment coupons to Obligors, reporting any required tax information to Obligors, monitoring the collateral, complying with the terms of the Lockbox Agreements, accounting for collections and furnishing monthly and annual statements to the Trust Collateral Agent, the Trustee and the Insurer with respect to distributions, monitoring the status of Insurance Policies with respect to the Financed Vehicles and performing the other duties specified herein.

The Servicer, or if AmeriCredit is no longer the Servicer, AmeriCredit, at the request of the Servicer, shall also administer and enforce all rights and responsibilities of the holder of the Receivables provided for in the Dealer Agreements and Auto Loan Purchase and Sale Agreements (and shall maintain possession of the Dealer Agreements and Auto Loan Purchase and Sale Agreements, to the extent it is necessary to do so), the Dealer Assignments, the Third-Party Lender Assignments and the Insurance Policies, to the extent that such Dealer Agreements, Auto Loan Purchase and Sale Agreements, Dealer Assignments, Third-Party Lender Assignments and Insurance Policies relate to the Receivables, the Financed Vehicles or the Obligors. To the extent consistent with the standards, policies and procedures otherwise required hereby, the Servicer shall follow its customary standards, policies, and procedures and shall have full power and authority, acting alone, to do any and all things in connection with such managing, servicing, administration and collection that it may deem necessary or desirable. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered by the Trust to execute and deliver, on behalf of the Trust, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Receivables and with respect to the Financed Vehicles; provided, however, that notwithstanding the foregoing, the Servicer shall not, except pursuant to an order from a court of competent jurisdiction, release an Obligor from payment of any unpaid amount under any Receivable or waive the right to collect the unpaid balance of any Receivable from the Obligor except in accordance with the Servicer’s customary practices as reflected in the Servicing Policies and Procedures attached hereto as Schedule C.

 

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The Servicer is hereby authorized to commence, in its own name or in the name of the Trust, a legal proceeding to enforce a Receivable pursuant to Section 4.3 or to commence or participate in any other legal proceeding (including, without limitation, a bankruptcy proceeding) relating to or involving a Receivable, an Obligor or a Financed Vehicle. If the Servicer commences or participates in such a legal proceeding in its own name, the Trust shall thereupon be deemed to have automatically assigned such Receivable to the Servicer solely for purposes of commencing or participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Trust to execute and deliver in the Servicer’s name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in connection with any such proceeding. The Trust Collateral Agent and the Owner Trustee shall furnish the Servicer with any limited powers of attorney and other documents which the Servicer may reasonably request and which the Servicer deems necessary or appropriate and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under this Agreement.

As set forth in Section 9.3, in the event the Servicer fails to perform its obligations hereunder, the Backup Servicer shall be responsible for the Servicer’s duties in this Agreement as if it were the Servicer, provided that the Backup Servicer shall not be liable for the Servicer’s breach of its obligations.

(b) The Backup Servicer shall have the following duties: (i) prior to the Closing Date, the Backup Servicer shall have conducted an on-site visit of the Servicer’s operations in connection with this or similar Agreements, (ii) the Backup Servicer shall conduct on-site visits once every 12 months to meet with appropriate operations personnel to discuss any changes in processes and procedures that have occurred since the last visit, (iii) prior to the Closing Date, the Backup Servicer shall have completed all data-mapping, and (iv) not more than once per year, the Backup Servicer shall update or amend the data-mapping by effecting a data-map refresh upon receipt of written notice from the Servicer specifying updated or amended fields, if any, in (a) fields in the Monthly Tape or (b) fields confirmed in the original data-mapping referred to in clause (iii) above. Each on-site visit shall be at the cost of AmeriCredit.

SECTION 4.2. Collection of Receivable Payments; Modifications of Receivables; Lockbox Agreements.

(a) Consistent with the standards, policies and procedures required by this Agreement, the Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due, and shall follow such collection procedures as it follows with respect to all comparable automobile receivables that it services for itself or others and otherwise act with respect to the Receivables, the Dealer Agreements, the Dealer Assignments, the Auto Loan Purchase and Sale Agreements, the Third-Party Lender Assignments, the Insurance Policies and the Other Conveyed Property in such manner as will, in the reasonable judgment of the Servicer, maximize the amount to be received by the Trust with respect thereto, including directing the Issuer to sell the Receivables pursuant to Section 4.3(c) hereof. The Servicer is authorized in its discretion to waive any prepayment charge, late payment charge or any other similar fees that may be collected in the ordinary course of servicing any Receivable.

 

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(b) The Servicer may (A) at any time agree to a modification or amendment of a Receivable in order to (i) not more than once per year, change the Obligor’s regular monthly due date to a date that shall in no event be later than 30 days after the original monthly due date of that Receivable or (ii) re-amortize the Scheduled Receivables Payments on the Receivable (x) following a partial prepayment of principal, in accordance with its customary procedures or (y) following the Obligor’s reinstatement based on local laws or (B) may direct the Issuer to sell the Receivables pursuant to Section 4.3 hereof, if the Servicer believes in good faith that such extension, modification, amendment or sale is necessary to avoid a default on such Receivable, will maximize the amount to be received by the Trust with respect to such Receivable, and is otherwise in the best interests of the Trust.

(c) The Servicer may grant payment extensions on, or other modifications or amendments to, a receivable (in addition to those modifications permitted by Section 4.2(b) hereof), in accordance with its customary procedures if the Servicer believes in good faith that such extension, modification or amendment is necessary to avoid a default on such Receivable, will maximize the amount to be received by the Trust with respect to such Receivable, and is otherwise in the best interests of the Trust; provided, however, that:

(i) The aggregate period of all extensions on a Receivable shall not exceed eight months;

(ii) In no event may a Receivable be extended beyond the Collection Period immediately preceding the latest Final Scheduled Distribution Date;

(iii) The average Monthly Extension Rate for any three consecutive calendar months shall not exceed 4%; and

(iv) So long as an Insurer Default shall not have occurred and be continuing, the Servicer shall not amend or modify a Receivable (except as provided in Section 4.2(b) and this Section 4.2(c)) without the consent of the Insurer or a Note Majority (if an Insurer Default shall have occurred and be continuing).

With respect to clause (iii) of this Section 4.2(c), in the event the average of the Monthly Extension Rates calculated with respect to three consecutive calendar months exceeds 4% (which information shall be set forth in the related Servicer’s Certificate), the Servicer shall, on the third such Accounting Date, purchase from the Trust the Receivables with respect to which payment had been extended (starting with the Receivables most recently so extended) in an aggregate Principal Balance equal to the product of (i) the difference between such average of Monthly Extension Rates and 4% and (ii) the Aggregate Principal Balance, and pay the related Purchase Amount on the related Determination Date; provided, however, that in the event the Backup Servicer shall be acting as Servicer hereunder, the foregoing sentence shall apply only in respect of Receivables as to which payments had been extended by such Backup Servicer.

(d) The Servicer shall, acting as agent for the Trust pursuant to a Lockbox Account Agreement, use its best efforts to notify or direct Obligors to make all payments on the Receivables, whether by check or by direct debit of the Obligor’s bank account, to be made directly to one or more Lockbox Banks or to the post office box established by the Lockbox

 

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Processor pursuant to the Lockbox Processing Agreement. The Servicer shall use its best efforts to notify or direct each Lockbox Bank and the Lockbox Processor to deposit all payments on the Receivables in the Lockbox Account no later than the Business Day after receipt, and to cause all amounts credited to the Lockbox Account on account of such payments to be transferred to the Collection Account no later than the second Business Day after receipt of such payments. The Lockbox Account shall be a demand deposit account held by the Lockbox Bank, or at the request of the Controlling Party, an Eligible Deposit Account.

Prior to the Closing Date, the Servicer shall have notified each Obligor that makes its payments on the Receivables by check to make such payments thereafter directly to the post office box established by the Lockbox Processor pursuant to the Lockbox Processing Agreement (except in the case of Obligors that have already been making such payments to such post office box), and shall have provided each such Obligor with remittance invoices in order to enable such Obligors to make such payments directly to such post office box for deposit into the Lockbox Account, and the Servicer will continue, not less often than every three months, to so notify those Obligors who have failed to make payments to such post office box. If and to the extent requested by the Controlling Party, the Servicer shall request each Obligor that makes payment on the Receivables by direct debit of such Obligor’s bank account, to execute a new authorization for automatic payment which in the judgment of the Controlling Party is sufficient to authorize direct debit by the Lockbox Bank on behalf of the Trust. If at any time, the Lockbox Bank is unable to directly debit an Obligor’s bank account that makes payment on the Receivables by direct debit and if such inability is not cured within 15 days or cannot be cured by execution by the Obligor of a new authorization for automatic payment, the Servicer shall notify such Obligor that it cannot make payment by direct debit and must thereafter make payment by check.

Notwithstanding any Lockbox Agreement, or any of the provisions of this Agreement relating to the Lockbox Agreements, the Servicer shall remain obligated and liable to the Trust, the Trust Collateral Agent, the Insurer and Noteholders for servicing and administering the Receivables and the Other Conveyed Property in accordance with the provisions of this Agreement without diminution of such obligation or liability by virtue thereof; provided, however, that the foregoing shall not apply to any Backup Servicer to the extent that a Lockbox Bank and the Lockbox Processor are performing their respective obligations pursuant to the terms of the Lockbox Agreements.

In the event of a termination of the Servicer, the successor Servicer shall assume all of the rights and obligations of the outgoing Servicer under the Lockbox Agreements subject to the terms hereof. In such event, the successor Servicer shall be deemed to have assumed all of the outgoing Servicer’s interest therein and to have replaced the outgoing Servicer as a party to each such Lockbox Agreement to the same extent as if such Lockbox Agreements had been assigned to the successor Servicer, except that the outgoing Servicer shall not thereby be relieved of any liability or obligations on the part of the outgoing Servicer to the Lockbox Bank or the Lockbox Processor under such Lockbox Agreements. The outgoing Servicer shall, upon request of the Trust Collateral Agent, but at the expense of the outgoing Servicer, deliver to the successor Servicer all documents and records relating to each such Lockbox Agreement and an accounting of amounts collected and held by the Lockbox Bank and the Lockbox Processor and otherwise use its best efforts to effect the orderly and efficient transfer of the Lockbox Agreements to the successor Servicer. In the event that the Insurer (so long as an Insurer Default

 

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shall not have occurred and be continuing) or a Note Majority (if an Insurer Default shall have occurred and be continuing) elects to change the identity of the Lockbox Bank or Lockbox Processor, the outgoing Servicer, at its expense, shall cause the Lockbox Bank or Lockbox Processor to deliver, at the direction of the Insurer (so long as an Insurer Default shall not have occurred and be continuing) or a Note Majority (if an Insurer Default shall have occurred and be continuing) to the Trust Collateral Agent or a successor Lockbox Bank or Lockbox Processor, all documents and records relating to the Receivables and all amounts held (or thereafter received) by the Lockbox Bank or the Lockbox Processor (together with an accounting of such amounts) and shall otherwise use its best efforts to effect the orderly and efficient transfer of the lockbox arrangements and the Servicer shall notify the Obligors to make payments to the lockbox arrangements established by the successor.

(e) The Servicer shall remit all payments by or on behalf of the Obligors received directly by the Servicer to the Lockbox Bank as soon as practicable, but in no event later than the second Business Day after receipt thereof, and such amounts shall be deposited into the Lockbox Account and transferred from the Lockbox Account to the Collection Account in accordance with Section 4.2(d) hereof.

(f) AmeriCredit shall not cause or permit the substitution of the Financed Vehicle relating to a Receivable unless: (i) the substitution is a replacement of the Financed Vehicle originally financed under the related Receivable; (ii) the Financed Vehicle originally financed under the related Receivable was either (x) insured under an Insurance Policy as required under Section 4.4(a) at the time of a casualty loss that is treated as a total loss under such Insurance Policy, (y) deemed to be a “lemon” pursuant to applicable state law and repurchased by the related Dealer or (z) is the subject of an order by a court of competent jurisdiction directing AmeriCredit to substitute another vehicle under the related Receivable; (iii) the related Receivable is not more than 30 days delinquent; (iv) the Obligor is deemed to be in “good standing” by the Servicer and is not in breach of any requirement under the related Receivable; (v) the replacement Financed Vehicle has a book value (N.A.D.A.) at least equal to the book value (N.A.D.A.) of the Financed Vehicle that is being replaced, measured immediately before the casualty loss or replacement by the Dealer; (vi) as of the date of such substitution, the replacement Financed Vehicle’s mileage is no greater than the mileage on the Financed Vehicle that is being replaced and (vii) the substitution complies with the Substitution of Collateral Criteria; provided, however, that if the substitution is made pursuant to clause (ii)(z), above, clauses (iii) through (vi) inclusive, shall not be applicable. So long as the Note Policy is outstanding, AmeriCredit shall not cause or permit the substitution of Financed Vehicles relating to Receivables having an original aggregate Principal Balance greater than two percent (2%) of the Original Pool Balance, (the “Substitution Limit”). In the event that the Substitution Limit is exceeded for any reason, (i) AmeriCredit shall, on or before the next following Accounting Date, repurchase a sufficient number of such Receivables to cause the aggregate original Principal Balances of such Receivables to be less than the Substitution Limit or (ii) if AmeriCredit is not the Servicer and the Servicer has caused substitutions to be made hereunder pursuant to the circumstances described in clause (ii)(x), above, the Servicer shall, on or before the next following Accounting Date, repurchase a sufficient number of such Receivables to cause the aggregate original Principal Balances of such Receivables to be less than the Substitution Limit.

SECTION 4.3. Realization upon Receivables.

 

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(a) In addition to the Servicer’s ability to direct the Issuer to sell Receivables pursuant to Section 4.3(c) hereof, and consistent with the standards, policies and procedures required by this Agreement, the Servicer shall use its best efforts to repossess (or otherwise comparably convert the ownership of) and liquidate any Financed Vehicle securing a Receivable with respect to which the Servicer has determined that payments thereunder are not likely to be resumed, as soon as is practicable; provided, however, that the Servicer may elect not to repossess a Financed Vehicle if in its good faith judgment it determines that the proceeds ultimately recoverable with respect to such Receivable would be increased by forbearance or if it instead elects to direct the Issuer to sell the Receivables pursuant to Section 4.3(c). The Servicer is authorized to follow such customary practices and procedures as it shall deem necessary or advisable, consistent with the standard of care required by Section 4.1, which practices and procedures may include reasonable efforts to realize upon any recourse to Dealers and Third-Party Lenders, the sale of the related Financed Vehicle at public or private sale, the submission of claims under an Insurance Policy and other actions by the Servicer in order to realize upon such a Receivable. The foregoing is subject to the provision that, in any case in which the Financed Vehicle shall have suffered damage, the Servicer shall not expend funds in connection with any repair or towards the repossession of such Financed Vehicle unless it expects, in its sole discretion, that such repair and/or repossession shall increase the proceeds of liquidation of the related Receivable by an amount greater than the amount of such expenses. All amounts received upon liquidation of a Financed Vehicle shall be remitted directly by the Servicer to the Collection Account without deposit into any intervening account as soon as practicable, but in no event later than the Business Day after receipt thereof. The Servicer shall be entitled to recover all reasonable expenses incurred by it in the course of repossessing and liquidating a Financed Vehicle into cash proceeds, but only out of the cash proceeds of such Financed Vehicle, any deficiency obtained from the Obligor or any amounts received from the related Dealer or Third-Party Lender, which amounts in reimbursement may be retained by the Servicer (and shall not be required to be deposited as provided in Section 4.2(e)) to the extent of such expenses. The Servicer shall pay on behalf of the Trust any personal property taxes assessed on repossessed Financed Vehicles. The Servicer shall be entitled to reimbursement of any such tax from Net Liquidation Proceeds with respect to such Receivable.

(b) If the Servicer, or if AmeriCredit is no longer the Servicer, AmeriCredit at the request of the Servicer, elects to commence a legal proceeding to enforce a Dealer Agreement, Auto Loan Purchase and Sale Agreement, Dealer Assignment or Third-Party Lender Assignment, the act of commencement shall be deemed to be an automatic assignment from the Trust to the Servicer, or to AmeriCredit at the request of the Servicer, of the rights under such Dealer Agreement, Auto Loan Purchase and Sale Agreement, Dealer Assignment or Third-Party Lender Assignment for purposes of collection only. If, however, in any enforcement suit or legal proceeding it is held that the Servicer or AmeriCredit, as appropriate, may not enforce a Dealer Agreement, Auto Loan Purchase and Sale Agreement, Dealer Assignment or Third-Party Lender Assignment on the grounds that it is not a real party in interest or a Person entitled to enforce the Dealer Agreement, Auto Loan Purchase and Sale Agreement, Dealer Assignment or Third-Party Lender Assignment, the Owner Trustee and/or the Trust Collateral Agent, at AmeriCredit’s expense, or the Seller, at the Seller’s expense, shall take such steps as the Servicer deems reasonably necessary to enforce the Dealer Agreement, Auto Loan Purchase and Sale Agreement, Dealer Assignment or Third-Party Lender Assignment, including bringing suit in its name or the name of the Seller or of the Trust and the Owner Trustee and/or the Trust Collateral Agent for the benefit of the Noteholders. All amounts recovered shall be remitted directly by the Servicer as provided in Section 4.2(e).

 

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(c) Consistent with the standards, policies and procedures required by this Agreement, the Servicer may use its best efforts to locate a third party purchaser that is not affiliated with the Servicer, the Seller or the Issuer to purchase from the Issuer any Receivable that has become more than 60 days delinquent, and shall have the right to direct the Issuer to sell any such Receivable to the third-party purchaser; provided, that no more than 20% of the number of Receivables in the pool as of the Cutoff Date may be sold by the Issuer pursuant to this Section 4.3(c) in the aggregate; provided further, that the Servicer may elect to not direct the Issuer to sell a Receivable that has become more than 60 days delinquent if in its good faith judgment the Servicer determines that the proceeds ultimately recoverable with respect to such Receivable would be increased by forbearance. In selecting Receivables to be sold to a third party purchaser pursuant to this Section 4.3(c), the Servicer shall use commercially reasonable efforts to locate purchasers for the most delinquent Receivables first. In any event, the Servicer shall not use any procedure in selecting Receivables to be sold to third party purchasers which is materially adverse to the interest of the Noteholders or the Insurer. The Issuer shall sell each Sold Receivable for the greatest market price possible; provided, however, that aggregate Sale Amounts received by the Issuer for all Receivables sold to a single third-party purchaser on a single date must be at least equal to the sum of the Minimum Sale Prices for all such Receivables. The Servicer shall remit or cause the third-party purchaser to remit all sale proceeds from the sale of Receivables to the Collection Account without deposit into any intervening account as soon as practicable, but in no event later than the Business Day after receipt thereof.

SECTION 4.4. Insurance.

(a) The Servicer shall require, in accordance with its customary servicing policies and procedures, that each Financed Vehicle be insured by the related Obligor under the Insurance Policies referred to in Paragraph 27 of the Schedule of Representations and Warranties and shall monitor the status of such physical loss and damage insurance coverage thereafter, in accordance with its customary servicing procedures. Each Receivable requires the Obligor to maintain such physical loss and damage insurance, naming AmeriCredit (or an Originating Affiliate or a Titled Third-Party Lender) and its successors and assigns as additional insureds, and permits the holder of such Receivable to obtain physical loss and damage insurance at the expense of the Obligor if the Obligor fails to maintain such insurance. If the Servicer shall determine that an Obligor has failed to obtain or maintain a physical loss and damage Insurance Policy covering the related Financed Vehicle which satisfies the conditions set forth in clause (i)(a) of such Paragraph 27 (including, without limitation, during the repossession of such Financed Vehicle) the Servicer may enforce the rights of the holder of the Receivable under the Receivable to require the Obligor to obtain such physical loss and damage insurance in accordance with its customary servicing policies and procedures. The Servicer may maintain a vendor’s single interest or other collateral protection insurance policy with respect to all Financed Vehicles (“Collateral Insurance”) which policy shall by its terms insure against physical loss and damage in the event any Obligor fails to maintain physical loss and damage insurance with respect to the related Financed Vehicle. The Servicer shall cause itself, an Originating Affiliate or a Titled Third-Party Lender, and may cause the Trust Collateral Agent, to be named as named insured under all policies of Collateral Insurance. Costs incurred by the Servicer in maintaining such Collateral Insurance shall be paid by the Servicer.

 

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(b) The Servicer may, if an Obligor fails to obtain or maintain a physical loss and damage Insurance Policy, obtain insurance with respect to the related Financed Vehicle and advance on behalf of such Obligor, as required under the terms of the insurance policy, the premiums for such insurance (such insurance being referred to herein as “Force-Placed Insurance”). All policies of Force-Placed Insurance shall be endorsed with clauses providing for loss payable to the Servicer. Any cost incurred by the Servicer in maintaining such Force-Placed Insurance shall only be recoverable out of premiums paid by the Obligors or Net Liquidation Proceeds with respect to the Receivable, as provided in Section 4.4(c).

(c) In connection with any Force-Placed Insurance obtained hereunder, the Servicer may, in the manner and to the extent permitted by applicable law, require the Obligors to repay the entire premium to the Servicer. In no event shall the Servicer include the amount of the premium in the Amount Financed under the Receivable. For all purposes of this Agreement, the Insurance Add-On Amount with respect to any Receivable having Force-Placed Insurance will be treated as a separate obligation of the Obligor and will not be added to the Principal Balance of such Receivable, and amounts allocable thereto will not be available for distribution on the Notes and the Certificates. The Servicer shall retain and separately administer the right to receive payments from Obligors with respect to Insurance Add-On Amounts or rebates of Forced-Placed Insurance premiums. If an Obligor makes a payment with respect to a Receivable having Force-Placed Insurance, but the Servicer is unable to determine whether the payment is allocable to the Receivable or to the Insurance Add-On Amount, the payment shall be applied first to any unpaid Scheduled Receivables Payments and then to the Insurance Add-On Amount. Net Liquidation Proceeds on any Receivable will be used first to pay the Principal Balance and accrued interest on such Receivable and then to pay the related Insurance Add-On Amount. If an Obligor under a Receivable with respect to which the Servicer has placed Force-Placed Insurance fails to make scheduled payments of such Insurance Add-On Amount as due, and the Servicer has determined that eventual payment of the Insurance Add-On Amount is unlikely, the Servicer may, but shall not be required to, purchase such Receivable from the Trust for the Purchase Amount on any subsequent Determination Date. Any such Receivable, and any Receivable with respect to which the Servicer has placed Force-Placed Insurance which has been paid in full (excluding any Insurance Add-On Amounts) will be assigned to the Servicer.

(d) The Servicer may sue to enforce or collect upon the Insurance Policies, in its own name, if possible, or as agent of the Trust. If the Servicer elects to commence a legal proceeding to enforce an Insurance Policy, the act of commencement shall be deemed to be an automatic assignment of the rights of the Trust under such Insurance Policy to the Servicer for purposes of collection only. If, however, in any enforcement suit or legal proceeding it is held that the Servicer may not enforce an Insurance Policy on the grounds that it is not a real party in interest or a holder entitled to enforce the Insurance Policy, the Owner Trustee and/or the Trust Collateral Agent, at the Servicer’s expense, or the Seller, at the Seller’s expense, shall take such steps as the Servicer deems necessary to enforce such Insurance Policy, including bringing suit in its name or the name of the Trust and the Owner Trustee and/or the Trust Collateral Agent for the benefit of the Noteholders.

 

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SECTION 4.5. Maintenance of Security Interests in Vehicles.

(a) Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Trust Collateral Agent hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust is insufficient, without a notation on the related Financed Vehicle’s certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the Trust, the Servicer hereby agrees that the designation of AmeriCredit (or an Originating Affiliate or a Titled Third-Party Lender) as the secured party on the Lien Certificate is in its capacity as Servicer as agent of the Trust.

(b) Upon the occurrence of an Insurance Agreement Event of Default, the Insurer may (so long as an Insurer Default shall not have occurred and be continuing) instruct the Trust Collateral Agent and the Servicer to take or cause to be taken, or, if an Insurer Default shall have occurred and is continuing, upon the occurrence of a Servicer Termination Event, the Trust Collateral Agent and the Servicer shall take or cause to be taken such action as may, in the Opinion of Counsel to the Controlling Party, be necessary to perfect or re-perfect the security interests in the Financed Vehicles securing the Receivables in the name of the Trust by amending the title documents of such Financed Vehicles or by such other reasonable means as may, in the Opinion of Counsel to the Controlling Party, be necessary or prudent.

AmeriCredit hereby agrees to pay all expenses related to such perfection or reperfection and to take all action necessary therefor. In addition, prior to the occurrence of an Insurance Agreement Event of Default, the Controlling Party may instruct the Trust Collateral Agent and the Servicer to take or cause to be taken such action as may, in the opinion of counsel to the Controlling Party, be necessary to perfect or re-perfect the security interest in the Financed Vehicles underlying the Receivables in the name of the Trust, including by amending the title documents of such Financed Vehicles or by such other reasonable means as may, in the opinion of counsel to the Controlling Party, be necessary or prudent; provided, however, that if the Controlling Party requests that the title documents be amended prior to the occurrence of an Insurance Agreement Event of Default, the out-of-pocket expenses of the Servicer or the Trust Collateral Agent in connection with such action shall be reimbursed to the Servicer or the Trust Collateral Agent, as applicable, by the Controlling Party. AmeriCredit hereby appoints the Trust Collateral Agent as its attorney-in-fact to take any and all steps required to be performed by AmeriCredit pursuant to this Section 4.5(b) (it being understood that and agreed that the Trust Collateral Agent shall have no obligation to take such steps with respect to all perfection or reperfection, except as pursuant to the Basic Documents to which it is a party and to which AmeriCredit has paid all expenses), including execution of Lien Certificates or any other documents in the name and stead of AmeriCredit and the Trust Collateral Agent hereby accepts such appointment.

 

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SECTION 4.6. Covenants, Representations, and Warranties of Servicer. By its execution and delivery of this Agreement, the Servicer makes the following representations, warranties and covenants on which the Trust Collateral Agent relies in accepting the Receivables, on which the Trustee relies in authenticating the Notes and on which the Insurer relies in issuing the Note Policy.

(a) The Servicer covenants as follows:

(i) Liens in Force. The Financed Vehicle securing each Receivable shall not be released in whole or in part from the security interest granted by the Receivable, except upon payment in full of the Receivable or as otherwise contemplated herein;

(ii) No Impairment. The Servicer shall do nothing to impair the rights of the Trust or the Noteholders in the Receivables, the Dealer Agreements, the Auto Loan Purchase and Sale Agreements, the Dealer Assignments, the Third-Party Lender Assignments, the Insurance Policies or the Other Conveyed Property except as otherwise expressly provided herein;

(iii) No Amendments. The Servicer shall not extend or otherwise amend the terms of any Receivable, except in accordance with Section 4.2; and

(iv) Restrictions on Liens. The Servicer shall not (i) create, incur or suffer to exist, or agree to create, incur or suffer to exist, or consent to cause or permit in the future (upon the happening of a contingency or otherwise) the creation, incurrence or existence of any Lien or restriction on transferability of the Receivables except for the Lien in favor of the Trust Collateral Agent for the benefit of the Noteholders and Insurer, the Lien imposed by the Spread Account Agreement in favor of the Collateral Agent for the benefit of the Trust Collateral Agent and Insurer, and the restrictions on transferability imposed by this Agreement or (ii) sign or file under the Uniform Commercial Code of any jurisdiction any financing statement which names AmeriCredit or the Servicer as a debtor, or sign any security agreement authorizing any secured party thereunder to file such financing statement, with respect to the Receivables, except in each case any such instrument solely securing the rights and preserving the Lien of the Trust Collateral Agent, for the benefit of the Noteholders and the Insurer.

(b) The Servicer represents, warrants and covenants as of the Closing Date as to itself that the representations and warranties set forth on the Schedule of Representations attached hereto as Schedule B are true and correct; provided that such representations and warranties contained therein and herein shall not apply to any entity other than AmeriCredit.

SECTION 4.7. Purchase of Receivables Upon Breach of Covenant. Upon discovery by any of the Servicer, the Insurer, a Responsible Officer of the Trust Collateral Agent, the Owner Trustee, a Responsible Officer of the Backup Servicer or a Responsible Officer of the Trustee of a breach of any of the covenants set forth in Sections 1, 2 or 3 of the

 

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Custodian Agreement or in Sections 4.5(a) or 4.6 hereof, the party discovering such breach shall give prompt written notice to the others; provided, however, that the failure to give any such notice shall not affect any obligation of AmeriCredit as Servicer under this Section. As of the second Accounting Date following its discovery or receipt of notice of any breach of any covenant set forth in Section 3(b) of the Custodian Agreement or Sections 4.5(a) or 4.6 hereof which materially and adversely affects the interests of the Noteholders or the Insurer in any Receivable (including any Receivable that is or was a Liquidated Receivable) (or, at AmeriCredit’s election, the first Accounting Date so following) or the related Financed Vehicle, AmeriCredit shall, unless such breach shall have been cured in all material respects, purchase from the Trust the Receivable affected by such breach and, on the related Determination Date, AmeriCredit shall pay the related Purchase Amount. It is understood and agreed that the obligation of AmeriCredit to purchase any Receivable (including any Receivable that is or was a Liquidated Receivable) with respect to which such a breach has occurred and is continuing shall, if such obligation is fulfilled, constitute the sole remedy against AmeriCredit for such breach available to the Insurer, the Noteholders, the Owner Trustee, the Backup Servicer or the Trust Collateral Agent; provided, however, that AmeriCredit shall indemnify the Trust, the Backup Servicer, the Collateral Agent, the Insurer, the Owner Trustee, the Trust Collateral Agent, the Trustee and the Noteholders from and against all costs, expenses, losses, damages, claims and liabilities, including reasonable fees and expenses of counsel, which may be asserted against or incurred by any of them as a result of third party claims arising out of the events or facts giving rise to such breach. Notwithstanding anything to the contrary contained herein, AmeriCredit will not be required to repurchase Receivables due solely to the Servicer’s not having received Lien Certificates that have been properly applied for from the Registrar of Titles in the applicable states for such Receivables unless (i) such Lien Certificates shall not have been received with respect to Receivables with Principal Balances which total more than 1.0% of the Aggregate Principal Balance as of the 180th day after the Closing Date, in which case AmeriCredit shall be required to repurchase a sufficient number of such Receivables to cause the aggregate Principal Balances of the remaining Receivables for which no such Lien Certificate shall have been received to be no greater than 1.0% of the Aggregate Principal Balance as of such date or (ii) such Lien Certificates shall not have been received as of the 240th day after the Closing Date. This Section shall survive the termination of this Agreement and the earlier removal or resignation of the Trustee and/or the Trust Collateral Agent and/or the Backup Servicer.

SECTION 4.8. Total Servicing Fee; Payment of Certain Expenses by Servicer. On each Distribution Date, the Servicer shall be entitled to receive out of the Collection Account the Base Servicing Fee and any Supplemental Servicing Fee for the related Collection Period (together, the “Servicing Fee”) pursuant to Section 5.7. The Servicer shall be required to pay all expenses incurred by it in connection with its activities under this Agreement (including taxes imposed on the Servicer, expenses incurred in connection with distributions and reports made by the Servicer to the Noteholders or the Insurer and all other fees and expenses of the Owner Trustee, the Collateral Agent, the Backup Servicer, the Trust Collateral Agent or the Trustee, except taxes levied or assessed against the Trust, and claims against the Trust in respect of indemnification, which taxes and claims in respect of indemnification against the Trust are expressly stated to be for the account of AmeriCredit). The Servicer shall be liable for the fees and expenses of the Owner Trustee, the Backup Servicer, the Trust Collateral Agent, the Trustee, the Custodian, the Collateral Agent, the Lockbox Bank (and any fees under the Lockbox Account Agreement), the Lockbox Processor (and any fees under the Lockbox Processing

 

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Agreement) and the Independent Accountants. Notwithstanding the foregoing, if the Servicer shall not be AmeriCredit, a successor to AmeriCredit as Servicer including the Backup Servicer permitted by Section 9.3 shall not be liable for taxes levied or assessed against the Trust or claims against the Trust in respect of indemnification, or the fees and expenses referred to above.

SECTION 4.9. Preliminary Servicer’s Certificate and Servicer’s Certificate.

(a) No later than noon Eastern time on each Determination Date, the Servicer shall deliver (facsimile delivery being acceptable) to the Trustee, the Owner Trustee, the Trust Collateral Agent, the Collateral Agent, the Backup Servicer, the Insurer and each Rating Agency a Preliminary Servicer’s Certificate executed by a Responsible Officer of the Servicer containing among other things, all information necessary to enable the Trust Collateral Agent to give any notice required by Section 5.5(b) and to make the distributions required by Section 5.7(a).

(b) No later than noon Eastern time on each Determination Date, the Servicer shall deliver (facsimile delivery being acceptable) to the Trustee, the Owner Trustee, the Trust Collateral Agent, the Collateral Agent, the Backup Servicer, the Insurer and each Rating Agency a Servicer’s Certificate executed by a Responsible Officer of the Servicer containing among other things, (i) all information necessary to enable the Trust Collateral Agent to make any withdrawal and deposit required by Section 5.5 and to make the distributions required by Section 5.7(a), (ii) a listing of all Purchased Receivables and Sold Receivables purchased by the Servicer or sold by the Issuer as of the related Accounting Date, identifying the Receivables so purchased by the Servicer or sold by the Issuer, (iii) all information necessary to enable the Backup Servicer to verify the items specified in Section 4.13(ii) (as set forth in the Monthly Tape delivered pursuant to Section 4.13); (iv) all information necessary to enable the Trust Collateral Agent to send the statements to Noteholders and the Insurer required by Section 5.10, and (v) all information necessary to enable the Trust Collateral Agent to reconcile the aggregate cash flows, the Collection Account for the related Collection Period and Distribution Date, including the accounting required by Section 5.10. Receivables purchased by the Servicer or by the Seller on the related Accounting Date and each Receivable which became a Liquidated Receivable or which was paid in full during the related Collection Period shall be identified by account number (as set forth in the Schedule of Receivables). In addition to the information set forth in the preceding sentence, the Servicer’s Certificate shall also contain the following information: (a) the Delinquency Ratio, Monthly Extension Rate, Cumulative Default Ratio and Cumulative Net Loss Ratio (as such terms are defined herein or in the Spread Account Agreement) for the related Collection Period; (b) whether any Trigger Event has occurred as of such Determination Date; (c) whether any Trigger Event that may have occurred as of a prior Determination Date is deemed cured as of such Determination Date; and (d) whether to the knowledge of the Servicer an Insurance Agreement Event of Default has occurred.

SECTION 4.10. Annual Statement as to Compliance, Notice of Servicer Termination Event.

(a) To the extent required by Section 1123 of Regulation AB, the Servicer shall deliver to the Trustee, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer, the Insurer and each Rating Agency, on or before March 31 of each year (regardless of whether the Seller has ceased filing reports under the Exchange Act), beginning on March 31, 2011, an

 

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officer’s certificate signed by any Responsible Officer of the Servicer, dated as of December 31 of the previous calendar year, stating that (i) a review of the activities of the Servicer during the preceding calendar year (or such other period as shall have elapsed from the Closing Date to the date of the first such certificate) and of its performance under this Agreement has been made under such officer’s supervision, and (ii) to such officer’s knowledge, based on such review, the Servicer has fulfilled in all material respects all its obligations under this Agreement throughout such period, or, if there has been a failure to fulfill any such obligation in any material respect, identifying each such failure known to such officer and the nature and status of such failure.

(b) The Servicer shall deliver to the Trustee, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer, the Insurer, the Collateral Agent and each Rating Agency, promptly after having obtained knowledge thereof, but in no event later than two (2) Business Days thereafter, written notice in an officer’s certificate of any event which with the giving of notice or lapse of time, or both, would become a Servicer Termination Event under Section 9.1(a). The Seller or the Servicer shall deliver to the Trustee, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer, the Insurer, the Collateral Agent, the Servicer or the Seller (as applicable) and each Rating Agency promptly after having obtained knowledge thereof, but in no event later than two (2) Business Days thereafter, written notice in an officer’s certificate of any event which with the giving of notice or lapse of time, or both, would become a Servicer Termination Event under any other clause of Section 9.1.

(c) The Servicer will deliver to the Issuer, on or before March 31 of each year, beginning on March 31, 2011, a report regarding the Servicer’s assessment of compliance with certain minimum servicing criteria during the immediately preceding calendar year, as required under Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB.

(d) To the extent required by Regulation AB, the Servicer will cause any affiliated servicer or any other party deemed to be participating in the servicing function pursuant to Item 1122 of Regulation AB to provide to the Issuer, on or before March 31 of each year, beginning on March 31, 2011, a report regarding such party’s assessment of compliance with certain minimum servicing criteria during the immediately preceding calendar year, as required under Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB.

(e) Wells Fargo Bank, National Association acknowledges, in its capacity as Backup Servicer and Trust Collateral Agent under this Agreement and in its capacity as Indenture Trustee under the Basic Documents, that to the extent it is deemed to be participating in the servicing function pursuant to Item 1122 of Regulation AB, it will take any action reasonably requested by the Servicer to ensure compliance with the requirements of Section 4.10(d) and Section 4.11(b) hereof and with Item 1122 of Regulation AB. Such required documentation will be delivered to the Servicer by March 15 of each calendar year.

SECTION 4.11. Annual Independent Public Accountants’ Report.

(a) The Servicer shall cause a firm of nationally recognized independent certified public accountants (the “Independent Accountants”), who may also render other services to the Servicer or its Affiliates, to deliver to the Trustee, the Owner Trustee, the Trust Collateral Agent, the Collateral Agent, the Insurer, the Backup Servicer, on or before March 31

 

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(or 90 days after the end of the Issuer’s fiscal year, if other than December 31) of each year, beginning in March 31, 2011, a report, dated as of December 31 of the preceding calendar year, addressed to the board of directors of the Servicer, providing its attestation report on the servicing assessment delivered pursuant to Section 4.10(c), including disclosure of any material instance of non-compliance, as required by Rule 13a-18 and 15d-18 of the Exchange Act and Item 1122(b) of Regulation AB. Such attestation will be in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the Exchange Act.

(b) Each party required to deliver an assessment of compliance described in Section 4.10(d) shall cause Independent Accountants, who may also render other services to such party or its Affiliates, to deliver to the Trustee, the Owner Trustee, the Trust Collateral Agent, the Collateral Agent, the Insurer, the Backup Servicer and the Servicer, on or before March 31 (or 90 days after the end of the Issuer’s fiscal year, if other than December 31) of each year, beginning in March 31, 2011, a report, dated as of December 31 of the preceding calendar year, addressed to the board of directors of such party, providing its attestation report on the servicing assessment delivered pursuant to Section 4.10(d), including disclosure of any material instance of non-compliance, as required by Rule 13a-18 and 15d-18 of the Exchange Act and Item 1122(b) of Regulation AB. Such attestation will be in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the Exchange Act.

(c) The Servicer shall cause a firm of Independent Accountants, who may also render other services to the Servicer or to the Seller, (1) to deliver to the Trustee, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer, the Insurer and each Rating Agency, on or before October 31 (or 120 days after the end of the Servicer’s fiscal year, if other than June 30) of each year, beginning on October 31, 2010, with respect to the twelve months ended the immediately preceding June 30 (or other applicable date) (or such other period as shall have elapsed from the Closing Date to the date of such certificate (which period shall not be less than six months)), a copy of the Form 10-K filed with the United States Securities and Exchange Commission for AmeriCredit Corp., which filing includes a statement that such audit was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as such firm considered necessary in the circumstances; (2) upon request of the Trustee, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer or the Insurer, to issue an acknowledgement to the effect that such firm has audited the books and records of AmeriCredit Corp., in which the Servicer is included as a consolidated subsidiary, and issued its report pursuant to item (1) of this section and that the accounting firm is independent of the Seller and the Servicer within the meaning of the Code of Professional Ethics of the American Institute of Certified Public Accountants; and (3) to deliver to the Insurer, upon the request of the Insurer, such request not being more often than annually, a report on the application of agreed upon procedures to three randomly selected Servicer’s Certificates including the delinquency, default and loss statistics required to be specified therein noting whether any exceptions or errors in the Servicer’s Certificates were found.

SECTION 4.12. Access to Certain Documentation and Information Regarding Receivables. The Servicer shall provide to representatives of the Trustee, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer and the Insurer reasonable access to the documentation regarding the Receivables. In each case, such access shall be afforded without charge but only upon reasonable request and during normal business hours. Nothing in this

 

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Section shall affect the obligation of the Servicer to observe any applicable law prohibiting disclosure of information regarding the Obligors, and the failure of the Servicer to provide access as provided in this Section as a result of such obligation shall not constitute a breach of this Section.

SECTION 4.13. Monthly Tape. No later than the second Business Day after each Distribution Date (but at least four Business Days prior to the related Insured Distribution Date), the Servicer will deliver to the Trust Collateral Agent, the Insurer and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Trust Collateral Agent, the Insurer and the Backup Servicer) in a format acceptable to the Trust Collateral Agent, the Insurer and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer’s Certificate relating to the immediately preceding Determination Date and necessary to review the application of collections as provided in Section 5.4 (the “Monthly Tape”). The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Trust Collateral Agent and the Backup Servicer) to (i) confirm that such tape, diskette or other electronic transmission is in readable form, and (ii) calculate and confirm (A) the aggregate amount distributable as principal on the related Distribution Date to each Class of Notes, (B) the aggregate amount distributable as interest on the related Distribution Date to each Class of Notes, (C) any amounts distributable on the related Distribution Date which are to be paid with funds withdrawn from the Spread Account, (D) any payments required to be made by the Insurer under the Note Policy, (E) the outstanding principal amount of each Class of Notes after giving effect to all distributions made pursuant to clause (A), above, (F) the Note Pool Factor for each Class of Notes after giving effect to all distributions made pursuant to clause (A), above, and (G) the aggregate Noteholders’ Principal Carryover Amount and the aggregate Noteholders’ Interest Carryover Amount on such Distribution Date after giving effect to all distributions made pursuant to clauses (A) and (B), above, respectively. The Backup Servicer shall certify to the Trustee that it has verified the Servicer’s Certificate in accordance with this Section and shall notify the Servicer and the Trustee of any discrepancies, in each case, on or before the fifth Business Day following the Distribution Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the next succeeding Distribution Date, but in the absence of a reconciliation, the Servicer’s Certificate shall control for the purpose of calculations and distributions with respect to the next succeeding Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer’s Certificate by the next succeeding Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer’s expense, to audit the Servicer’s Certificate and, prior to the last day of the month after the month in which such Servicer’s Certificate was delivered, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer’s Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Controlling Party, deliver to the Backup Servicer or any successor Servicer its Collection Records and its Monthly Records within 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer.

 

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ARTICLE V

Trust Accounts; Distributions;

Statements to Noteholders

SECTION 5.1. Establishment of Trust Accounts.

(a) (i) The Trust Collateral Agent, on behalf of the Noteholders and the Insurer, shall establish and maintain in its own name an Eligible Deposit Account (the “Collection Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Trust Collateral Agent on behalf of the Noteholders and the Insurer. The Collection Account shall initially be established with the Trust Collateral Agent.

     (ii) The Trust Collateral Agent, on behalf of the Noteholders, shall establish and maintain in its own name an Eligible Deposit Account (the “Note Distribution Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Trust Collateral Agent on behalf of the Noteholders and the Insurer. The Note Distribution Account shall initially be established with the Trust Collateral Agent.

(b) Funds on deposit in the Collection Account and the Note Distribution Account (together, the “Trust Accounts”) and the Lockbox Accounts shall be invested by the Trust Collateral Agent (or any custodian with respect to funds on deposit in any such account) in Eligible Investments selected in writing by the Servicer (pursuant to standing instructions or otherwise). All such Eligible Investments shall be held by or on behalf of the Trust Collateral Agent for the benefit of the Noteholders and the Insurer, as applicable. Other than as permitted by the Rating Agencies and the Insurer, funds on deposit in any Trust Account shall be invested in Eligible Investments that will mature so that such funds will be available at the close of business on the Business Day immediately preceding the following Distribution Date or, if earlier, at the close of business on the Business Day immediately preceding the following Insured Distribution Date (except that if such Eligible Investments are obligations of the institution that maintains such Trust Account or a fund for which such institution or an Affiliate thereof serves as an investment advisor, administrator, shareholder servicing agent, custodian and/or sub-custodian, then such Eligible Investment shall be permitted to mature on the Distribution Date). Funds deposited in a Trust Account on the day immediately preceding a Distribution Date or an Insured Distribution Date upon the maturity of any Eligible Investments are required to be invested overnight. All Eligible Investments will be held to maturity. Each institution at which the relevant Trust Account is maintained shall invest the funds therein as directed in writing by the Servicer in Eligible Investments.

(c) All Investment Earnings of moneys deposited in each Trust Account shall be deposited (or caused to be deposited) in the Collection Account on each Distribution Date by the Trust Collateral Agent and applied as Available Funds on such Distribution Date, and any loss resulting from such investments shall be charged to such Trust Account. The Servicer will not direct the Trust Collateral Agent to make any investment of any funds held in any of the

 

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Trust Accounts unless the security interest granted and perfected in such account will continue to be perfected in such investment, in either case without any further action by any Person, and, in connection with any direction to the Trust Collateral Agent to make any such investment, if requested by the Trust Collateral Agent, the Servicer shall deliver to the Trust Collateral Agent an Opinion of Counsel, acceptable to the Trust Collateral Agent, to such effect.

(d) The Trust Collateral Agent shall not in any way be held liable by reason of any insufficiency in any of the Trust Accounts resulting from any loss on any Eligible Investment included therein except for losses attributable to the Trust Collateral Agent’s negligence or bad faith or its failure to make payments on such Eligible Investments issued by the Trust Collateral Agent, in its commercial capacity as principal obligor and not as trustee, in accordance with their terms.

(e) If (i) the Servicer shall have failed to give investment directions in writing for any funds on deposit in the Trust Accounts to the Trust Collateral Agent by 1:00 p.m. Eastern Time (or such other time as may be agreed by the Issuer and Trust Collateral Agent) on any Business Day; or (ii) a Default or Event of Default shall have occurred and is continuing with respect to the Notes but the Notes shall not have been declared due and payable, or, if such Notes shall have been declared due and payable following an Event of Default, amounts collected or received from the Trust Property are being applied as if there had not been such a declaration; then the Trust Collateral Agent shall, to the fullest extent practicable, invest and reinvest funds in the Trust Accounts in the investment described in clause (d) of the definition of Eligible Investments.

(f) (i) The Trust Collateral Agent shall possess all right, title and interest in all funds on deposit from time to time in the Trust Accounts and in all proceeds thereof for the benefit of the Noteholders and the Insurer and all such funds, investments, proceeds and income shall be part of the Owner Trust Estate. Except as otherwise provided herein, the Trust Accounts shall be under the sole dominion and control of the Trust Collateral Agent for the benefit of the Noteholders, as the case may be, and the Insurer. If, at any time, any of the Trust Accounts ceases to be an Eligible Deposit Account, the Trust Collateral Agent (or the Servicer on its behalf) shall within five Business Days (or such longer period as to which each Rating Agency and the Insurer may consent) establish a new Trust Account as an Eligible Deposit Account and shall transfer any cash and/or any investments to such new Trust Account. In connection with the foregoing, the Servicer agrees that, in the event that any of the Trust Accounts are not accounts with the Trust Collateral Agent, the Servicer shall notify the Trust Collateral Agent in writing promptly upon any of such Trust Accounts ceasing to be an Eligible Deposit Account.

     (ii) With respect to the Trust Account Property, the Trust Collateral Agent agrees that:

(A) any Trust Account Property that is held in deposit accounts shall be held solely in the Eligible Deposit Accounts; and, except as otherwise provided herein, each such Eligible Deposit Account shall be subject to the exclusive custody and control of the Trust Collateral Agent, and the Trust Collateral Agent shall have sole signature authority with respect thereto;

 

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(B) any Trust Account Property that constitutes Physical Property shall be delivered to the Trust Collateral Agent in accordance with paragraph (a) of the definition of “Delivery” and shall be held, pending maturity or disposition, solely by the Trust Collateral Agent or a securities intermediary (as such term is defined in Section 8-102(14) of the UCC) acting solely for the Trust Collateral Agent;

(C) the “securities intermediary’s jurisdiction” for purposes of Section 8-110 of the UCC shall be the State of New York;

(D) any Trust Account Property that is a book-entry security held through the Federal Reserve System pursuant to Federal book-entry regulations shall be delivered in accordance with paragraph (b) of the definition of “Delivery” and shall be maintained by the Trust Collateral Agent, pending maturity or disposition, through continued book-entry registration of such Trust Account Property as described in such paragraph;

(E) any Trust Account Property that is an “uncertificated security” or a “security entitlement” under Article 8 of the UCC and that is not governed by clause (D) above shall be delivered to the Trust Collateral Agent in accordance with paragraph (c) or (d), if applicable, of the definition of “Delivery” and shall be maintained by the Trust Collateral Agent, pending maturity or disposition, through continued registration of the Trust Collateral Agent’s (or its nominee’s) ownership of such security; and

(F) any cash that is Trust Account Property shall be considered a “financial asset” under Article 8 of the UCC.

(g) The Servicer shall have the power, revocable by the Insurer or, with the consent of the Insurer by the Trustee or by the Owner Trustee with the consent of the Trustee, to instruct the Trust Collateral Agent to make withdrawals and payments from the Trust Accounts for the purpose of permitting the Servicer and the Trust Collateral Agent to carry out its respective duties hereunder.

SECTION 5.2. [Reserved].

SECTION 5.3. Certain Reimbursements to the Servicer. The Servicer will be entitled to be reimbursed from amounts on deposit in the Collection Account with respect to a Collection Period for amounts previously deposited in the Collection Account but later determined by the Servicer to have resulted from mistaken deposits or postings or checks returned for insufficient funds. The amount to be reimbursed hereunder shall be paid to the Servicer on the related Distribution Date pursuant to Section 5.7(a)(i) upon certification by the Servicer of such amounts and the provision of such information to the Trust Collateral Agent and the Insurer as may be necessary in the opinion of the Insurer to verify the accuracy of such certification; provided, however, that the Servicer must provide such clarification within 12

 

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months of such mistaken deposit, posting, or returned check. In the event that the Insurer has not received evidence satisfactory to it of the Servicer’s entitlement to reimbursement pursuant to this Section, the Insurer shall (unless an Insurer Default shall have occurred and be continuing) give the Trust Collateral Agent notice in writing to such effect, following receipt of which the Trust Collateral Agent shall not make a distribution to the Servicer in respect of such amount pursuant to Section 5.7, or if the Servicer prior thereto has been reimbursed pursuant to Section 5.7, the Trust Collateral Agent shall withhold such amounts from amounts otherwise distributable to the Servicer on the next succeeding Distribution Date. The Servicer will additionally be entitled to receive from amounts on deposit in the Collection Account with respect to a Collection Period any amounts paid by Obligors that were deposited in the Lockbox Account but that do not relate to (i) principal and interest payments due on the Receivables and (ii) any fees or expenses related to extensions due on the Receivables.

SECTION 5.4. Application of Collections. All collections for the Collection Period shall be applied by the Servicer as follows:

(a) With respect to each Receivable (other than a Purchased Receivable or a Sold Receivable), payments by or on behalf of the Obligor, (other than Supplemental Servicing Fees with respect to such Receivable, to the extent collected) shall be applied to interest and principal in accordance with the Simple Interest Method.

(b) All amounts collected that are payable to the Servicer as Supplemental Servicing Fees hereunder shall be deposited in the Collection Account and paid to the Servicer in accordance with Section 5.7(a).

SECTION 5.5. Withdrawals from Spread Account.

(a) In the event that the Preliminary Servicer’s Certificate with respect to any Determination Date shall state that there is a Deficiency Claim Amount with respect to the related Distribution Date, then the Trust Collateral Agent shall deliver to the Collateral Agent, the Owner Trustee, the Trustee, the Insurer and the Servicer, by hand delivery or facsimile transmission, (1) no later than 2:00 p.m. Eastern time on the Business Day preceding such Distribution Date, a written notice (a “Deficiency Notice”) specifying the Deficiency Claim Amount for such Distribution Date and (2) no later than 12:00 noon Eastern time on the fourth Business Day immediately preceding the related Insured Distribution Date, the Note Policy Claim Amount, if any. Such Deficiency Notice shall direct the Collateral Agent to remit such Deficiency Claim Amount (to the extent of the funds available to be distributed pursuant to the Spread Account Agreement) to the Trust Collateral Agent for deposit in the Collection Account on the related Distribution Date.

(b) In the event that the Preliminary Servicer’s Certificate with respect to any Determination Date shall state that there shall be an Accelerated Payment Amount Shortfall with respect to the related Distribution Date, then no later than 2:00 p.m. Eastern time on the Business Day preceding such Distribution Date the Trust Collateral Agent shall deliver to the Collateral Agent, the Owner Trustee, the Trustee, the Insurer and the Servicer, by hand delivery or facsimile transmission, an Accelerated Payment Shortfall Notice. Such Accelerated Payment Shortfall Notice shall direct the Collateral Agent to remit such Accelerated Payment Amount Shortfall (to the extent of funds available to be distributed in the Spread Account) to the Trust Collateral Agent for deposit in the Collection Account on the related Distribution Date.

 

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(c) The amounts distributed by the Collateral Agent to the Trust Collateral Agent pursuant to a Deficiency Notice or Accelerated Payment Shortfall Notice shall be deposited by the Trust Collateral Agent into the Collection Account pursuant to Section 5.6 for application on the related Distribution Date pursuant to Section 5.7.

SECTION 5.6. Additional Deposits.

(a) The Servicer and the Seller, as applicable, shall deposit or cause to be deposited in the Collection Account on the Determination Date on which such obligations are due the aggregate Purchase Amount with respect to Purchased Receivables and the aggregate Sale Amounts with respect to Sold Receivables. On or before each Distribution Date, the Trust Collateral Agent shall remit to the Collection Account any amounts delivered to the Trust Collateral Agent by the Collateral Agent.

(b) The proceeds of any purchase or sale of the assets of the Trust described in Section 10.1 hereof shall be deposited in the Collection Account.

SECTION 5.7. Distributions

(a) On each Distribution Date, the Trust Collateral Agent shall (based solely on the information contained in the Preliminary Servicer’s Certificate delivered with respect to the related Determination Date) distribute the following amounts from the Collection Account unless otherwise specified, to the extent of the sources of funds stated to be available therefor, and in the following order of priority:

(i) from the Available Funds and any Deficiency Claim Amount Deposits, to the Servicer, (1) the Base Servicing Fee for the related Collection Period, (2) any Supplemental Servicing Fees for the related Collection Period, (3) any amounts specified in Section 5.3, (4) to the extent the Servicer has not reimbursed itself in respect of such amounts pursuant to Section 5.3 and to the extent not retained by the Servicer and to pay to AmeriCredit any amounts paid by Obligors during the preceding calendar month that did not relate to (x) principal and interest payments due on the Receivables and (y) any fees or expenses related to extensions due on the Receivables, and (5) to any successor Servicer, transition fees not to exceed $200,000 (including boarding fees) in the aggregate;

(ii) from the Available Funds and any Deficiency Claim Amount Deposits, to each of the Lockbox Bank, the Lockbox Processor, the Trustee, the Trust Collateral Agent, the Backup Servicer (in its capacity as either Backup Servicer or successor Servicer) and the Owner Trustee, their respective accrued and unpaid fees, expenses and indemnities (in each case, to the extent such fees, expenses or indemnities have not been previously paid by the Servicer, and provided that such fees, expenses and indemnities shall not exceed (x) $100,000 in the aggregate in any calendar year to the Owner Trustee and (y) $200,000 in the aggregate in any calendar year to the Lockbox Banks, the Lockbox Processor, the Trust Collateral Agent, the Backup Servicer (in its capacity as either Backup Servicer or successor Servicer) and the Trustee;

 

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(iii) from the Available Funds and any Deficiency Claim Amount Deposits, to the Note Distribution Account, the Noteholders’ Interest Distributable Amount;

(iv) from the Available Funds and any Deficiency Claim Amount Deposits (other than amounts relating to Deficiency Claim Amounts described in clause (i) of the definition thereof), to the Note Distribution Account, the Noteholders’ Principal Distributable Amount and the Noteholders’ Parity Deficit Amount;

(v) from the Available Funds and any Deficiency Claim Amount Deposits to the Insurer, the Premium and any amounts owing to the Insurer under the Insurance Agreement and not paid;

(vi) from the Available Funds to the Spread Account, an amount, if necessary, required to increase the amount therein to its then required level;

(vii) from the Available Funds and other amounts, if any, received by the Trust Collateral Agent in respect of the Accelerated Payment Amount Shortfall Deposits, to the Note Distribution Account, the Noteholders’ Accelerated Principal Amount;

(viii) from the Available Funds, any remaining Available Funds to the Collateral Agent for deposit in the Spread Account;

provided, however, that, (A) following an acceleration of the Notes pursuant to the Indenture or, (B) if an Insurer Default shall have occurred and be continuing and an Event of Default pursuant to Section 5.1(i), 5.1(ii), 5.1(v), 5.1(vi) or 5.1(vii) of the Indenture shall have occurred and be continuing, or (C) upon the receipt of Insolvency Proceeds pursuant to Section 10.1(b), amounts deposited in the Note Distribution Account (including any such Insolvency Proceeds) shall be paid to the Noteholders, pursuant to Section 5.6 of the Indenture.

(b) On each Insured Distribution Date, the Trust Collateral Agent shall (based solely on the information contained in the Servicer’s Certificate delivered with respect to the related Determination Date, unless the Insurer shall have notified the Trust Collateral Agent in writing of any errors or deficiencies with respect thereto) distribute from the Collection Account the Additional Funds Available, if any, then on deposit in the Collection Account, and in accordance with the priorities set forth in Section 5.7(a) and the Trust Collateral Agent shall deposit in the Note Distribution Account the lesser of (i) the amount received from the Insurer as proceeds of a draw on the Note Policy and (ii) any excess of the Scheduled Payments (as defined in the Note Policy) due on such Insured Distribution Date over the amount of all Available Funds, Deficiency Claim Amount Deposits and Accelerated Payment Amount Shortfall Deposits previously deposited in the Note Distribution Account with respect to the related Distribution Date, which amount shall be applied solely to the payment of amounts then due and unpaid on the Notes in accordance with the priorities set forth in Section 5.8(a) hereof or Section 5.6 of the Indenture, as applicable.

 

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(c) In the event that the Collection Account is maintained with an institution other than the Trust Collateral Agent, the Servicer shall instruct and cause such institution to make all deposits and distributions pursuant to Sections 5.7(a) and 5.7(b) on the related Distribution Date and the related Insured Distribution Date, as applicable.

SECTION 5.8. Note Distribution Account.

(a) On each Distribution Date (based solely on the information contained in the Preliminary Servicer’s Certificate) and each Insured Distribution Date (based solely on the information in the Servicer’s Certificate) the Trust Collateral Agent shall distribute all amounts on deposit in the Note Distribution Account to Noteholders in respect of the Notes to the extent of amounts due and unpaid on the Notes for principal and interest in the following amounts and in the following order of priority:

(i) accrued and unpaid interest on the Notes; provided that if there are not sufficient funds in the Note Distribution Account to pay the entire amount of accrued and unpaid interest then due on each Class of Notes, the amount in the Note Distribution Account shall be applied to the payment of such interest on each Class of Notes pro rata on the basis of the amount of accrued and unpaid interest due on each Class of Notes;

(ii) outstanding principal on the Notes, such amounts to be paid in accordance with the following priority:

(1) to the Holders of the Class A-1 Notes with the total amount paid out on each Distribution Date until the outstanding principal balance of the Class A-1 Notes has been reduced to zero;

(2) to the Holders of the Class A-2 Notes with the total amount paid out on each Distribution Date until the outstanding principal balance of the Class A-2 Notes has been reduced to zero; and

(3) to the Holders of the Class A-3 Notes with the total amount paid out on each Distribution Date until the outstanding principal balance of the Class A-3 Notes has been reduced to zero.

(b) On each Insured Distribution Date, the Trust Collateral Agent shall send to each Noteholder the statement provided to the Trust Collateral Agent by the Servicer pursuant to Section 5.10 hereof on such Insured Distribution Date.

(c) In the event that any withholding tax is imposed on the Trust’s payment (or allocations of income) to a Noteholder, such tax shall reduce the amount otherwise distributable to the Noteholder in accordance with this Section. The Trust Collateral Agent is hereby authorized and directed to retain from amounts otherwise distributable to the Noteholders sufficient funds for the payment of any tax attributable to the Trust (but such authorization shall not prevent the Trust Collateral Agent from contesting any such tax in appropriate proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings). The amount of any withholding tax imposed with respect to a Noteholder shall be treated as cash distributed to such Noteholder at the time it is withheld by the Trust and remitted

 

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to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution (such as a distribution to a non-US Noteholder), the Trust Collateral Agent may in its sole discretion withhold such amounts in accordance with this clause (c). In the event that a Noteholder wishes to apply for a refund of any such withholding tax, the Trust Collateral Agent shall reasonably cooperate with such Noteholder in making such claim so long as such Noteholder agrees to reimburse the Trust Collateral Agent for any out-of-pocket expenses (including legal fees and expenses) incurred.

(d) Distributions required to be made to Noteholders on any Distribution Date or any Insured Distribution Date shall be made to each Noteholder of record on the preceding Record Date either by (i) wire transfer, in immediately available funds, to the account of such Holder at a bank or other entity having appropriate facilities therefore, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five Business Days prior to such Distribution Date and such Holder’s Notes in the aggregate evidence a denomination of not less than $1,000,000 or (ii) by check mailed to such Noteholder at the address of such holder appearing in the Note Register. Notwithstanding the foregoing, the final distribution in respect of any Note (whether on the Final Scheduled Distribution Date or otherwise) will be payable only upon presentation and surrender of such Note at the office or agency maintained for that purpose by the Note Registrar pursuant to Section 2.4 of the Indenture.

(e) Subject to Section 5.1 and this section, monies received by the Trust Collateral Agent hereunder need not be segregated in any manner except to the extent required by law and may be deposited under such general conditions as may be prescribed by law, and the Trust Collateral Agent shall not be liable for any interest thereon.

SECTION 5.9. [Reserved].

SECTION 5.10. Statements to Noteholders.

(a) On or prior to each Distribution Date, the Trust Collateral Agent shall provide each Noteholder of record (with a copy to the Insurer and the Rating Agencies) a statement setting forth at least the following information as to the Notes to the extent applicable:

(i) the amount of such distribution allocable to principal of each Class of Notes;

(ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes;

(iii) the amount of such distribution payable out of amounts withdrawn from the Spread Account and the amount, if any, expected to be paid under the Note Policy on the related Insured Distribution Date;

(iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period;

 

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(v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above;

(vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be;

(vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in those amounts from the preceding statement;

(viii) the amount of the aggregate Realized Losses, if any, for the second preceding Collection Period;

(ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period; and

(x) the aggregate Sale Amounts for Sold Receivables, if any, that were sold by the Issuer in such period.

Each amount set forth pursuant to paragraph (i), (ii), (iii) and (vii) above shall be expressed as a dollar amount per $1,000 of the initial principal balance of the Notes (or Class thereof).

(b) The Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.10(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Trust Collateral Agent’s internet website with the use of a password provided by the Trust Collateral Agent. The Trust Collateral Agent’s internet website will be located at www.CTSLink.com or at such other address as the Trust Collateral Agent shall notify the Noteholders from time to time. For assistance with regard to this service, Noteholders can call the Trust Collateral Agent’s Corporate Trust Office at (866) 846-4526. The Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.10(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

SECTION 5.11. Optional Deposits by the Insurer. The Insurer shall at any time, and from time to time, with respect to an Insured Distribution Date, have the option (but shall not be required, except in accordance with the terms of the Note Policy) to deliver amounts to the Trust Collateral Agent for deposit into the Collection Account for any of the following purposes: (i) to provide funds in respect of the payment of fees or expenses of any provider of services to the Trust with respect to such Insured Distribution Date, or (ii) to include such amount to the extent that without such amount a draw would be required to be made on the Note Policy.

 

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ARTICLE VI

The Note Policy

SECTION 6.1. Claims Under Note Policy.

(a) In the event that the Trust Collateral Agent has delivered a Deficiency Notice with respect to any Determination Date pursuant to Section 5.5 hereof, the Trust Collateral Agent shall on the related Draw Date determine the Note Policy Claim Amount for the related Insured Distribution Date. If the Note Policy Claim Amount for such Insured Distribution Date is greater than zero, the Trust Collateral Agent shall furnish to the Insurer no later than 12:00 noon Eastern time on the related Draw Date a completed Notice of Claim (as defined in (b) below) in the amount of the Note Policy Claim Amount. Amounts paid by the Insurer pursuant to a claim submitted under this Section shall (to the extent provided in Section 5.7(b)) be deposited by the Trust Collateral Agent into the Note Distribution Account for payment to Noteholders on the related Insured Distribution Date.

(b) Any notice delivered by the Trust Collateral Agent to the Insurer shall be in the form attached as Exhibit A to the Note Policy pursuant to subsection 6.1(a), shall specify the Note Policy Claim Amount claimed under the Note Policy and shall constitute a “Notice of Claim” under the Note Policy. In accordance with the provisions of the Note Policy, the Insurer is required to pay to the Trust Collateral Agent the Note Policy Claim Amount properly claimed thereunder by 10:00 a.m., New York time, on the later of (i) the third Business Day following receipt on a Business Day of the Notice of Claim, and (ii) the applicable Insured Distribution Date. Any payment made by the Insurer under the Note Policy shall be applied solely to the payment of the Notes, and for no other purpose.

(c) The Trust Collateral Agent shall (i) receive as attorney-in-fact of the Trustee and each Noteholder any Note Policy Claim Amount from the Insurer and (ii) deposit the same in the Note Distribution Account for distribution to Noteholders. Any and all Note Policy Claim Amounts disbursed by the Trustee or Trust Collateral Agent from claims made under the Note Policy shall not be considered payment by the Trust or from the Spread Account with respect to such Notes, and shall not discharge the obligations of the Trust with respect thereto. The Insurer shall, to the extent it makes any payment with respect to the Notes, become subrogated to the rights of the recipients of such payments to the extent of such payments. Subject to and conditioned upon any payment with respect to the Notes by or on behalf of the Insurer, the Trustee and the Trust Collateral Agent shall assign to the Insurer all rights to the payment of interest or principal with respect to the Notes which are then due for payment to the extent of all payments made by the Insurer, and, without limiting any rights of the Insurer, the Insurer may exercise any option, vote, right, power or the like with respect to the Notes to the extent that it has made payment pursuant to the Note Policy. To evidence such subrogation, the Note Registrar shall note the Insurer’s rights as subrogee upon the register of Noteholders upon receipt from the Insurer of proof of payment by the Insurer. The foregoing subrogation shall in all cases be subject to the rights of the Noteholders to receive all Scheduled Payments (as defined in the Note Policy) in respect of the Notes.

 

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(d) The Trustee and the Trust Collateral Agent shall keep a complete and accurate record of all funds deposited by the Trustee or the Trust Collateral Agent on behalf of the Insurer into the Collection Account with respect to the Note Policy and the allocation of such funds to payment of interest on and principal paid in respect of any Note. The Insurer shall have the right to inspect such records at reasonable times upon one Business Day’s prior notice to the Trust Collateral Agent or the Trustee.

(e) The Trustee shall be entitled to enforce on behalf of the Noteholders the obligations of the Insurer under the Note Policy. Notwithstanding any other provision of this Agreement or any Basic Document, the Noteholders are not entitled to institute proceedings directly against the Insurer.

SECTION 6.2. Preference Claims Under Note Policy.

(a) In the event that the Trustee has received a certified copy of an order of the appropriate court that any Scheduled Payment (as defined in the Note Policy) paid on a Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdiction, the Trustee shall so notify the Trust Collateral Agent and the Insurer, and the Trust Collateral Agent shall comply with the provisions of the Note Policy to obtain payment by the Insurer of such avoided payment. The Trustee shall, at the time it provides notice to the Insurer, notify Holders of the Notes by mail that, in the event that any Noteholder’s payment is so recoverable, such Noteholder will be entitled to payment pursuant to the terms of the Note Policy. Each of the Trust Collateral Agent and the Trustee shall furnish to the Insurer its records evidencing the payments of principal of and interest on Notes, if any, which have been made by the Trust Collateral Agent or the Trustee and subsequently recovered from Noteholders, and the dates on which such payments were made. Pursuant to the terms of the Note Policy, the Insurer will make such payment on behalf of the Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the Order (as defined in the Note Policy) and not to the Trust Collateral Agent, the Trustee or any Noteholder directly (unless a Noteholder has previously paid such payment to the receiver, conservator, debtor-in-possession or trustee in bankruptcy, in which case the Insurer will make such payment to the Trustee for distribution to such Noteholder upon proof of such payment reasonably satisfactory to the Insurer).

(b) The Trust Collateral Agent or the Trustee shall promptly notify the Insurer of any proceeding or the institution of any action (of which a Responsible Officer of the Trust Collateral Agent has actual knowledge) seeking the avoidance as a preferential transfer under applicable bankruptcy, insolvency, receivership, rehabilitation or similar law of any distribution made with respect to the Notes (a “Note Preference Claim”). Each Noteholder, by its purchase of Notes, the Trustee and the Trust Collateral Agent hereby agree that so long as an Insurer Default shall not have occurred and be continuing, the Insurer may at any time during the continuation of any proceeding relating to a Note Preference Claim direct all matters relating to such Note Preference Claim, including, without limitation, (i) the direction of any appeal of any order relating to any Note Preference Claim and (ii) the posting of any surety, supersedeas or performance bond pending any such appeal at the expense of the Insurer, but subject to reimbursement as provided in the Insurance Agreement. In addition, and without limitation of the foregoing, as set forth in Section 6.1(c), the Insurer shall be subrogated to, and each

 

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Noteholder, the Trustee and the Trust Collateral Agent hereby delegate and assign, to the fullest extent permitted by law, the rights of the Trustee, the Trust Collateral Agent and each Noteholder in the conduct of any proceeding with respect to a Note Preference Claim, including, without limitation, all rights of any party to an adversary proceeding action with respect to any court order issued in connection with any such Note Preference Claim.

SECTION 6.3. Surrender of Note Policy. The Trustee shall surrender (or cause the Trust Collateral Agent to surrender) the Note Policy to the Insurer for cancellation upon the expiration of such policy in accordance with the terms thereof.

ARTICLE VII

The Seller

SECTION 7.1. Representations of Seller. The Seller makes the following representations on which the Insurer shall be deemed to have relied in executing and delivering the Note Policy and on which the Issuer is deemed to have relied in acquiring the Receivables and on which the Trustee, Collateral Agent, Trust Collateral Agent and Backup Servicer may rely. The representations speak as of the execution and delivery of this Agreement and as of the Closing Date, and shall survive the sale of the Receivables to the Issuer and the pledge thereof to the Trust Collateral Agent pursuant to the Indenture.

(a) Schedule of Representations. The representations and warranties set forth on the Schedule of Representations attached hereto as Schedule B are true and correct.

(b) Organization and Good Standing. The Seller has been duly organized and is validly existing as a corporation in good standing under the laws of the State of Nevada, with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is currently conducted, and had at all relevant times, and now has, power, authority and legal right to acquire, own and sell the Receivables and the Other Conveyed Property transferred to the Trust.

(c) Due Qualification. The Seller is duly qualified to do business as a foreign corporation, is in good standing and has obtained all necessary licenses and approvals in all jurisdictions where the failure to do so would materially and adversely affect Seller’s ability to transfer the Receivables and the Other Conveyed Property to the Trust pursuant to this Agreement, or the validity or enforceability of the Receivables and the Other Conveyed Property or to perform Seller’s obligations hereunder and under the Seller’s Basic Documents.

(d) Power and Authority. The Seller has the power and authority to execute and deliver this Agreement and its Basic Documents and to carry out its terms and their terms, respectively; the Seller has full power and authority to sell and assign the Receivables and the Other Conveyed Property to be sold and assigned to and deposited with the Trust by it and has duly authorized such sale and assignment to the Trust by all necessary corporate action; and the execution, delivery and performance of this Agreement and the Seller’s Basic Documents have been duly authorized by the Seller by all necessary corporate action.

 

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(e) Valid Sale, Binding Obligations. This Agreement effects a valid sale, transfer and assignment of the Receivables and the Other Conveyed Property, enforceable against the Seller and creditors of and purchasers from the Seller; and this Agreement and the Seller’s Basic Documents, when duly executed and delivered, shall constitute legal, valid and binding obligations of the Seller enforceable in accordance with their respective terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights generally and by equitable limitations on the availability of specific remedies, regardless of whether such enforceability is considered in a proceeding in equity or at law.

(f) No Violation. The consummation of the transactions contemplated by this Agreement and the Basic Documents and the fulfillment of the terms of this Agreement and the Basic Documents shall not conflict with, result in any breach of any of the terms and provisions of or constitute (with or without notice, lapse of time or both) a default under the certificate of incorporation or by-laws 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, or violate any law, 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.

(g) No Proceedings. There are no proceedings or investigations pending or, to the Seller’s knowledge, threatened against the Seller, 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 any of the Basic Documents, (B) seeking to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the Basic Documents, (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 or any of the Basic Documents, or (D) seeking to adversely affect the federal income tax or other federal, state or local tax attributes of the Notes.

(h) No Consents. The Seller is not required to obtain the consent of any other party or any consent, license, approval or authorization, or registration or declaration with, any governmental authority, bureau or agency in connection with the execution, delivery, performance, validity or enforceability of this Agreement which has not already been obtained.

(i) True Sale. The Receivables are being transferred with the intention of removing them from the Seller’s estate pursuant to Section 541 of the Bankruptcy Code, as the same may be amended from time to time.

(j) Chief Executive Office. The chief executive office of the Seller is at 2265 B Renaissance Drive, Suite 17, Las Vegas, Nevada 89119.

 

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(k) Investment Company Act. Neither the Seller nor the Issuer is an “investment company” or a company “controlled by an investment company” within the meaning of the Investment Company Act.

SECTION 7.2. Corporate Existence.

(a) During the term of this Agreement, the Seller will keep in full force and effect its existence, rights and franchises as a corporation under the laws of the jurisdiction of its incorporation and will obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the Basic Documents and each other instrument or agreement necessary or appropriate to the proper administration of this Agreement and the transactions contemplated hereby.

(b) During the term of this Agreement, the Seller shall observe the applicable legal requirements for the recognition of the Seller as a legal entity separate and apart from its Affiliates, including as follows:

(i) the Seller shall maintain corporate records and books of account separate from those of its Affiliates;

(ii) except as otherwise provided in this Agreement, the Seller shall not commingle its assets and funds with those of its Affiliates;

(iii) the Seller shall hold such appropriate meetings of its board of directors, or adopt resolutions pursuant to a unanimous written consent of the board of directors, as are necessary to authorize all the Seller’s corporate actions required by law to be authorized by the board of directors, shall keep minutes of such meetings and of meetings of its stockholder(s) and observe all other customary corporate formalities (and any successor Seller not a corporation shall observe similar procedures in accordance with its governing documents and applicable law);

(iv) the Seller shall at all times hold itself out to the public under the Seller’s own name as a legal entity separate and distinct from its Affiliates;

(v) all transactions and dealings between the Seller and its Affiliates will be conducted on an arm’s length basis; and

(vi) the Seller shall pay from its assets all obligations and indebtedness of any kind incurred by the Seller.

SECTION 7.3. Liability of Seller; Indemnities. The Seller shall be liable in accordance herewith only to the extent of the obligations specifically undertaken by the Seller under this Agreement.

(a) The Seller shall indemnify, defend and hold harmless the Issuer, the Owner Trustee, the Insurer, the Trustee, the Backup Servicer, the Collateral Agent and the Trust Collateral Agent and its officers, directors, employees and agents from and against any taxes that

 

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may at any time be asserted against any such Person with respect to the transactions or activities contemplated in this Agreement and any of the Basic Documents (except any income taxes arising out of fees paid to the Owner Trustee, the Trust Collateral Agent, the Trustee and the Insurer and except any taxes to which the Owner Trustee, the Trust Collateral Agent or the Trustee may otherwise be subject to, without regard to the transactions contemplated hereby), including any sales, gross receipts, general corporation, tangible or intangible personal property, privilege or license taxes (but, in the case of the Issuer, not including any taxes asserted with respect to, federal or other income taxes arising out of distributions on the Notes) and costs and expenses in defending against the same.

(b) The Seller shall indemnify, defend and hold harmless the Issuer, the Owner Trustee, the Trustee, Backup Servicer, the Collateral Agent, the Insurer and the Trust Collateral Agent and the officers, directors, employees and agents thereof and the Noteholders from and against any loss, liability or expense incurred by reason of (i) the Seller’s willful misfeasance, bad faith or negligence in the performance of its duties under this Agreement, or by reason of reckless disregard of its obligations and duties under this Agreement and (ii) the Seller’s or the Issuer’s violation of federal or state securities laws in connection with the offering and sale of the Notes.

(c) The Seller shall indemnify, defend and hold harmless the Issuer, the Owner Trustee, Trustee, Trust Collateral Agent, Collateral Agent and Backup Servicer and the officers, directors, employees and agents thereof from and against any and all costs, expenses, losses, claims, damages and liabilities arising out of, or incurred in connection with the acceptance or performance of the trusts and duties set forth herein and in the Basic Documents except to the extent that such cost, expense, loss, claim, damage or liability shall be due to the willful misfeasance, bad faith or negligence (except for errors in judgment) of the Owner Trustee, Trustee, Trust Collateral Agent, Collateral Agent and Backup Servicer respectively.

Indemnification under this Section shall survive the resignation or removal of the Owner Trustee, the Trustee, the Backup Servicer, the Collateral Agent or the Trust Collateral Agent and the termination of this Agreement or the Indenture or the Trust Agreement, as applicable, and shall include reasonable fees and expenses of counsel and other expenses of litigation. If the Seller shall have made any indemnity payments pursuant to this Section and the Person to or on behalf of whom such payments are made thereafter shall collect any of such amounts from others, such Person shall promptly repay such amounts to the Seller, without interest.

SECTION 7.4. Merger or Consolidation of, or Assumption of the Obligations of, Seller. Any Person (a) into which the Seller may be merged or consolidated, (b) which may result from any merger or consolidation to which the Seller shall be a party or (c) which may succeed to the properties and assets of the Seller substantially as a whole, which Person in any of the foregoing cases executes an agreement of assumption to perform every obligation of the Seller under this Agreement, shall be the successor to the Seller hereunder without the execution or filing of any document or any further act by any of the parties to this Agreement; provided, however, that (i) the Seller shall have received the written consent of the Insurer prior to entering into any such transaction, (ii) immediately after giving effect to such transaction, no representation or warranty made pursuant to Section 3.1 shall have been breached and no

 

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Servicer Termination Event, and no event which, after notice or lapse of time, or both, would become a Servicer Termination Event shall have happened and be continuing, (iii) the Seller shall have delivered to the Owner Trustee, the Trust Collateral Agent, the Collateral Agent, the Backup Servicer, the Trustee and the Insurer an Officers’ Certificate and an Opinion of Counsel each stating that such consolidation, merger or succession and such agreement of assumption comply with this Section and that all conditions precedent, if any, provided for in this Agreement relating to such transaction have been complied with, (iv) the Rating Agency Condition shall have been satisfied with respect to such transaction and (v) the Seller shall have delivered to the Owner Trustee, the Trust Collateral Agent, the Collateral Agent, the Backup Servicer, the Trustee and the Insurer an Opinion of Counsel stating that, in the opinion of such counsel, either (A) all financing statements and continuation statements and amendments thereto have been executed and filed that are necessary fully to preserve and protect the interest of the Trust Collateral Agent, the Owner Trustee and the Trustee, respectively, in the Receivables and reciting the details of such filings or (B) no such action shall be necessary to preserve and protect such interest. Notwithstanding anything herein to the contrary, the execution of the foregoing agreement of assumption and compliance with clauses (i), (ii), (iii), (iv) and (v) above shall be conditions to the consummation of the transactions referred to in clauses (a), (b) or (c) above.

SECTION 7.5. Limitation on Liability of Seller and Others. The Seller and any director, officer or employee or agent of the Seller may rely in good faith on the advice of counsel or on any document of any kind, prima facie properly executed and submitted by any Person respecting any matters arising under any Basic Document. The Seller shall not be under any obligation to appear in, prosecute or defend any legal action that shall not be incidental to its obligations under this Agreement, and that in its opinion may involve it in any expense or liability.

SECTION 7.6. Ownership of the Certificates or Notes. The Seller and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Certificates or Notes with the same rights as it would have if it were not the Seller or an Affiliate thereof, except as expressly provided herein or in any Basic Document. Notes or Certificates so owned by the Seller or such Affiliate shall have an equal and proportionate benefit under the provisions of the Basic Documents, without preference, priority, or distinction as among all of the Notes or Certificates; provided, however, that any Notes or Certificates owned by the Seller or any Affiliate thereof, during the time such Notes or Certificates are owned by them, shall be without voting rights for any purpose set forth in the Basic Documents and will not be entitled to the benefits of the Note Policy. The Seller shall notify the Owner Trustee, the Trustee, the Trust Collateral Agent and the Insurer with respect to any other transfer of any Certificate.

ARTICLE VIII

The Servicer and the Backup Servicer

SECTION 8.1. Representations of Servicer. The Servicer makes the following representations on which the Insurer shall be deemed to have relied in executing and delivering the Note Policy and on which the Issuer is deemed to have relied in acquiring the Receivables. The representations speak as of the execution and delivery of this Agreement and as of the Closing Date, and shall survive the sale of the Receivables to the Issuer and the pledge thereof to the Trust Collateral Agent pursuant to the Indenture.

 

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(a) Representations and Warranties. The representations and warranties set forth on the Schedule of Representations attached hereto as Schedule B are true and correct, provided that such representations and warranties contained therein and herein shall not apply to any entity other than AmeriCredit;

(b) Organization and Good Standing. The Servicer has been duly organized and is validly existing and in good standing under the laws of its jurisdiction of organization, with power, authority and legal right to own its properties and to conduct its business as such properties are currently owned and such business is currently conducted, and had at all relevant times, and now has, power, authority and legal right to enter into and perform its obligations under this Agreement;

(c) Due Qualification. The Servicer is duly qualified to do business as a foreign corporation, is 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 (including the servicing of the Receivables as required by this Agreement) requires or shall require such qualification;

(d) Power and Authority. The Servicer has the power and authority to execute and deliver this Agreement and its Basic Documents and to carry out its terms and their terms, respectively, and the execution, delivery and performance of this Agreement and the Servicer’s Basic Documents have been duly authorized by the Servicer by all necessary corporate action;

(e) Binding Obligation. This Agreement and the Servicer’s Basic Documents shall constitute legal, valid and binding obligations of the Servicer enforceable in accordance with their respective terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, or other similar laws affecting the enforcement of creditors’ rights generally and by equitable limitations on the availability of specific remedies, regardless of whether such enforceability is considered in a proceeding in equity or at law;

(f) No Violation. The consummation of the transactions contemplated by this Agreement and the Servicer’s Basic Documents, and the fulfillment of the terms of this Agreement and the Servicer’s Basic Documents, 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 of the Servicer, or any indenture, agreement, mortgage, deed of trust or other instrument to which the Servicer 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, or violate any law, order, rule or regulation applicable to the Servicer of any court or of any federal or state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Servicer or any of its properties;

(g) No Proceedings. There are no proceedings or investigations pending or, to the Servicer’s knowledge, threatened against the Servicer, before any court, regulatory body,

 

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administrative agency or other tribunal or governmental instrumentality having jurisdiction over the Servicer or its properties (A) asserting the invalidity of this Agreement or any of the Basic Documents, (B) seeking to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the Basic Documents, (C) seeking any determination or ruling that might materially and adversely affect the performance by the Servicer of its obligations under, or the validity or enforceability of, this Agreement or any of the Basic Documents or (D) seeking to adversely affect the federal income tax or other federal, state or local tax attributes of the Notes;

(h) No Consents. The Servicer is not required to obtain the consent of any other party or any consent, license, approval or authorization, or registration or declaration with, any governmental authority, bureau or agency in connection with the execution, delivery, performance, validity or enforceability of this Agreement which has not already been obtained.

SECTION 8.2. Representations of Backup Servicer. The Backup Servicer makes the following representations on which the Issuer is deemed to have relied in acquiring the Receivables. The representations speak as of the execution and delivery of this Agreement and as of the Closing Date, and shall survive the sale of the Receivables to the Issuer and the pledge thereof to the Trust Collateral Agent pursuant to the Indenture.

(a) Organization and Good Standing. The Backup Servicer has been duly organized and is validly existing and in good standing under the laws of its jurisdiction of organization, with power, authority and legal right to own its properties and to conduct its business as such properties are currently owned and such business is currently conducted, and had at all relevant times, and now has, power, authority and legal right to enter into and perform its obligations under this Agreement;

(b) Due Qualification. The Backup Servicer is duly qualified to do business as a foreign corporation, is 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 (including the servicing of the Receivables as required by this Agreement) requires or shall require such qualification;

(c) Power and Authority. The Backup Servicer has the power and authority to execute and deliver this Agreement and the other Basic Documents to which the Backup Servicer is a party and to carry out its terms and their terms, respectively, and the execution, delivery and performance of this Agreement and the other Basic Documents to which the Backup Servicer is a party have been duly authorized by the Backup Servicer by all necessary corporate action;

(d) Binding Obligation. This Agreement and the other Basic Documents to which the Backup Servicer is a party shall constitute the legal, valid and binding obligations of the Backup Servicer enforceable in accordance with their respective terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, or other similar laws affecting the enforcement of creditors’ rights generally and by equitable limitations on the availability of specific remedies, regardless of whether such enforceability is considered in a proceeding in equity or at law;

 

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(e) No Violation. The consummation of the transactions contemplated by this Agreement and the other Basic Documents to which the Backup Servicer is a party, and the fulfillment of the terms of this Agreement and the other Basic Documents to which the Backup Servicer is a party, shall not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under, the articles of incorporation or bylaws of the Backup Servicer, or any indenture, agreement, mortgage, deed of trust or other instrument to which the Backup Servicer 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, or violate any law, order, rule or regulation applicable to the Backup Servicer of any court or of any federal or state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Backup Servicer or any of its properties;

(f) No Proceedings. There are no proceedings or investigations pending or, to the Backup Servicer’s knowledge, threatened against the Backup Servicer, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over the Backup Servicer or its properties (A) asserting the invalidity of this Agreement or any of the Basic Documents to which the Backup Servicer is a party, (B) seeking to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the Basic Documents to which the Backup Servicer is a party, (C) seeking any determination or ruling that might materially and adversely affect the performance by the Backup Servicer of its obligations under, or the validity or enforceability of, this Agreement or any of the Basic Documents to which the Backup Servicer is a party or (D) seeking to adversely affect the federal income tax or other federal, state or local tax attributes of the Notes;

(g) No Consents. The Backup Servicer is not required to obtain the consent of any other party or any consent, license, approval or authorization, or registration or declaration with, any governmental authority, bureau or agency in connection with the execution, delivery, performance, validity or enforceability of this Agreement which has not already been obtained.

SECTION 8.3. Liability of Servicer and Backup Servicer; Indemnities. The Servicer (in its capacity as such) shall be liable hereunder only to the extent of the obligations in this Agreement specifically undertaken by the Servicer and the representations made by the Servicer.

(b) The Servicer shall defend, indemnify and hold harmless the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, the Backup Servicer, the Collateral Agent, the Insurer, their respective officers, directors, agents and employees, and the Noteholders from and against any and all costs, expenses, losses, damages, claims and liabilities, including reasonable fees and expenses of counsel and expenses of litigation arising out of or resulting from the use, ownership or operation by the Servicer or any Affiliate thereof of any Financed Vehicle.

(c) The Servicer (when the Servicer is AmeriCredit) shall indemnify, defend and hold harmless the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, the Backup Servicer, the Collateral Agent, the Insurer, their respective officers, directors, agents and employees and the Noteholders from and against any taxes that may at any time be asserted

 

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against any of such parties with respect to the transactions or activities contemplated in this Agreement, including, without limitation, any sales, gross receipts, general corporation, tangible or intangible personal property, privilege or license taxes (but not including any federal or other income taxes, including franchise taxes asserted with respect to, and as of the date of, the sale of the Receivables and the Other Conveyed Property to the Trust or the issuance and original sale of the Notes) and costs and expenses in defending against the same.

(d) The Servicer (when the Servicer is not AmeriCredit) shall indemnify, defend and hold harmless the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, the Backup Servicer, the Collateral Agent, the Insurer, their respective officers, directors, agents and employees and the Noteholders from and against any taxes with respect to the sale of Receivables in connection with servicing hereunder that may at any time be asserted against any of such parties with respect to the transactions or activities contemplated in this Agreement, including, without limitation, any sales, gross receipts, general corporation, tangible or intangible personal property, privilege or license taxes (but not including any federal or other income taxes, including franchise taxes asserted with respect to, and as of the date of, the sale of the Receivables and the Other Conveyed Property to the Trust or the issuance and original sale of the Notes) and costs and expenses in defending against the same.

(e) The Servicer shall indemnify, defend and hold harmless the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, the Backup Servicer, the Collateral Agent, the Insurer, their respective officers, directors, agents and employees and the Noteholders from and against any and all costs, expenses, losses, claims, damages, and liabilities, including reasonable fees and expenses of counsel and expenses of litigation, to the extent that such cost, expense, loss, claim, damage, or liability arose out of, or was imposed upon the Trust, the Trustee, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer, the Collateral Agent, the Insurer or the Noteholders by reason of the breach of this Agreement by the Servicer, the negligence, misfeasance, or bad faith of the Servicer in the performance of its duties under this Agreement or by reason of reckless disregard of its obligations and duties under this Agreement.

(f) AmeriCredit shall indemnify, defend and hold harmless the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, the Backup Servicer, the Collateral Agent, the Insurer, their respective officers, directors, agents and employees and the Noteholders from and against any loss, liability or expense incurred by reason of the violation by Servicer or Seller of federal or state securities laws in connection with the registration or the sale of the Notes. This section shall survive the termination of this Agreement, or the earlier removal or resignation of the Trustee, the Trust Collateral Agent, the Backup Servicer or the Collateral Agent.

(g) The Backup Servicer shall defend, indemnify and hold harmless the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, the Servicer, the Insurer, their respective officers, directors, agents and employees and the Noteholders from and against: (i) all costs, expenses, losses, damages, claims and liabilities, including reasonable fees and expenses of counsel and expenses of litigation arising out of or resulting from the use, ownership or operation by the Backup Servicer or any Affiliate thereof of any Financed Vehicle; and (ii) any and all costs, expenses, losses, claims, damages, and liabilities to the extent that such cost,

 

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expense, loss, claim, damage, or liability arose out of, or was imposed upon the Trust, the Owner Trustee, the Trustee, the Servicer, the Insurer or the Noteholders by reason of, the breach of this Agreement by the Backup Servicer, the violation of federal or state securities laws by the Backup Servicer, the negligence, misfeasance, or bad faith of the Backup Servicer in the performance of its duties under this Agreement or by reason of reckless disregard of its obligations and duties under this Agreement.

(h) AmeriCredit shall indemnify the Trustee, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer and the Collateral Agent, and the respective officers, directors, agents and employees thereof against any and all loss, liability or expense, (other than overhead and expenses incurred in the normal course of business) incurred by each of them in connection with the acceptance or administration of the Trust and the performance of their duties under the Basic Documents other than if such loss, liability or expense was incurred by the Trustee, the Owner Trustee or the Trust Collateral Agent or the Collateral Agent as a result of any such entity’s willful misconduct, bad faith or negligence.

(i) Indemnification under this Article shall include, without limitation, reasonable fees and expenses of counsel and expenses of litigation. If the Servicer has made any indemnity payments pursuant to this Article and the recipient thereafter collects any of such amounts from others, the recipient shall promptly repay such amounts collected to the Servicer, without interest. Notwithstanding anything contained herein to the contrary, any indemnification payable by the Servicer to the Backup Servicer, to the extent not paid by the Servicer, shall be paid solely from the Spread Account in accordance with the terms of the Spread Account Agreement.

(j) When the Trustee, the Trust Collateral Agent, the Collateral Agent or the Backup Servicer incurs expenses after the occurrence of a Servicer Termination Event specified in Section 9.1(d) or (e) with respect to the Servicer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.

SECTION 8.4. Merger or Consolidation of, or Assumption of the Obligations of the Servicer or Backup Servicer.

(a) AmeriCredit shall not merge or consolidate with any other Person, convey, transfer or lease substantially all its assets as an entirety to another Person, or permit any other Person to become the successor to AmeriCredit’s business unless, after the merger, consolidation, conveyance, transfer, lease or succession, the successor or surviving entity shall be capable of fulfilling the duties of AmeriCredit contained in this Agreement and shall be acceptable to the Controlling Party, and, if an Insurer Default shall have occurred and be continuing, shall be an eligible servicer. Any corporation (i) into which AmeriCredit may be merged or consolidated, (ii) resulting from any merger or consolidation to which AmeriCredit shall be a party, (iii) which acquires by conveyance, transfer, or lease substantially all of the assets of AmeriCredit, or (iv) succeeding to the business of AmeriCredit, in any of the foregoing cases shall execute an agreement of assumption to perform every obligation of AmeriCredit under this Agreement and, whether or not such assumption agreement is executed, shall be the successor to AmeriCredit under this Agreement without the execution or filing of any paper or any further act on the part

 

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of any of the parties to this Agreement, anything in this Agreement to the contrary notwithstanding; provided, however, that nothing contained herein shall be deemed to release AmeriCredit from any obligation. AmeriCredit shall provide notice of any merger, consolidation or succession pursuant to this Section to the Owner Trustee, the Trust Collateral Agent, the Noteholders, the Insurer and each Rating Agency. Notwithstanding the foregoing, AmeriCredit shall not merge or consolidate with any other Person or permit any other Person to become a successor to AmeriCredit’s business, unless (x) immediately after giving effect to such transaction, no representation or warranty made pursuant to Section 4.6 shall have been breached (for purposes hereof, such representations and warranties shall speak as of the date of the consummation of such transaction) and no event that, after notice or lapse of time, or both, would become an Insurance Agreement Event of Default shall have occurred and has not been waived, (y) AmeriCredit shall have delivered to the Owner Trustee, the Trust Collateral Agent, Trustee, the Backup Servicer and the Collateral Agent, the Rating Agencies and the Insurer an Officer’s Certificate and an Opinion of Counsel each stating that such consolidation, merger or succession and such agreement of assumption comply with this Section and that all conditions precedent, if any, provided for in this Agreement relating to such transaction have been complied with, and (z) AmeriCredit shall have delivered to the Owner Trustee, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Collateral Agent, the Rating Agencies and the Insurer an Opinion of Counsel, stating in the opinion of such counsel, either (A) all financing statements and continuation statements and amendments thereto have been executed and filed that are necessary to preserve and protect the interest of the Trust in the Receivables and the Other Conveyed Property and reciting the details of the filings or (B) no such action shall be necessary to preserve and protect such interest.

(b) Any corporation (i) into which the Backup Servicer may be merged or consolidated, (ii) resulting from any merger or consolidation to which the Backup Servicer shall be a party, (iii) which acquires by conveyance, transfer or lease substantially all of the assets of the Backup Servicer, or (iv) succeeding to the business of the Backup Servicer, in any of the foregoing cases shall execute an agreement of assumption to perform every obligation of the Backup Servicer under this Agreement and, whether or not such assumption agreement is executed, shall be the successor to the Backup Servicer under this Agreement without the execution or filing of any paper or any further act on the part of any of the parties to this Agreement, anything in this Agreement to the contrary notwithstanding; provided, however, that nothing contained herein shall be deemed to release the Backup Servicer from any obligation.

SECTION 8.5. Limitation on Liability of Servicer, Backup Servicer and Others.

(a) Neither AmeriCredit, the Backup Servicer nor any of the directors or officers or employees or agents of AmeriCredit or Backup Servicer shall be under any liability to the Trust or the Noteholders, except as provided in this Agreement, for any action taken or for refraining from the taking of any action pursuant to this Agreement; provided, however, that this provision shall not protect AmeriCredit, the Backup Servicer or any such person against any liability that would otherwise be imposed by reason of a breach of this Agreement or willful misfeasance, bad faith or negligence (excluding errors in judgment) in the performance of duties; provided, further, that this provision shall not affect any liability to indemnify the Trust Collateral Agent and the Owner Trustee for costs, taxes, expenses, claims, liabilities, losses or

 

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damages paid by the Trust Collateral Agent and the Owner Trustee, in their individual capacities. AmeriCredit, the Backup Servicer and any director, officer, employee or agent of AmeriCredit or Backup Servicer may rely in good faith on the written advice of counsel or on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising under this Agreement.

(b) The Backup Servicer shall not be liable for any obligation of the Servicer contained in this Agreement or for any errors of the Servicer contained in any computer tape, certificate or other data or document delivered to the Backup Servicer hereunder or on which the Backup Servicer must rely in order to perform its obligations hereunder, and the Owner Trustee, the Trustee, the Trust Collateral Agent, the Collateral Agent, the Backup Servicer, the Seller and the Insurer and the Noteholders shall look only to the Servicer to perform such obligations. The Backup Servicer, the Trust Collateral Agent, the Collateral Agent, the Trustee, the Owner Trustee and the Custodian shall have no responsibility and shall not be in default hereunder or incur any liability for any failure, error, malfunction or any delay in carrying out any of their respective duties under this Agreement if such failure or delay results from the Backup Servicer acting in accordance with information prepared or supplied by a Person other than the Backup Servicer (or contractual agents) or the failure of any such other Person to prepare or provide such information. The Backup Servicer shall have no responsibility, shall not be in default and shall incur no liability for (i) any act or failure to act of any third party (other than its contractual agents), including the Servicer or the Controlling Party, (ii) any inaccuracy or omission in a notice or communication received by the Backup Servicer from any third party (other than its contractual agents), (iii) the invalidity or unenforceability of any Receivable under applicable law, (iv) the breach or inaccuracy of any representation or warranty made with respect to any Receivable, or (v) the acts or omissions of any successor Backup Servicer.

(c) The parties expressly acknowledge and consent to Wells Fargo Bank, National Association, acting in the possible dual capacity of Backup Servicer or successor Servicer and in the capacity as Trust Collateral Agent. Wells Fargo Bank, National Association, may, in such dual or other capacity, discharge its separate functions fully, without hindrance or regard to conflict of interest principles, duty of loyalty principles or other breach of fiduciary duties to the extent that any such conflict or breach arises from the performance by Wells Fargo Bank, National Association, of express duties set forth in this Agreement in any of such capacities, all of which defenses, claims or assertions are hereby expressly waived by the other parties hereto and the Noteholders except in the case of gross negligence and willful misconduct by Wells Fargo Bank, National Association.

SECTION 8.6. Delegation of Duties. The Servicer may delegate duties under this Agreement to an Affiliate of AmeriCredit with the prior written consent of the Insurer (unless an Insurer Default shall have occurred and be continuing) but without first obtaining the consent of any other Person. The Servicer also may at any time perform through sub-contractors the specific duties of (i) repossession of Financed Vehicles, (ii) tracking Financed Vehicles’ insurance and (iii) pursuing the collection of deficiency balances on certain Liquidated Receivables, in each case, without the consent of the Insurer, the Trust Collateral Agent, the Owner Trustee or the Backup Servicer and may perform other specific duties through such sub-contractors in accordance with Servicer’s customary servicing policies and procedures, with the prior consent of the Insurer; provided, however, that no such delegation or sub-contracting duties

 

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by the Servicer shall relieve the Servicer of its responsibility with respect to such duties. So long as no Insurer Default shall have occurred and be continuing neither AmeriCredit or any party acting as Servicer hereunder shall appoint any subservicer hereunder without the prior written consent of the Insurer and the Trust Collateral Agent. Notwithstanding the foregoing, AmeriCredit, as Servicer, may delegate its duties hereunder and under any other Basic Document with respect to the servicing of and collections on certain Receivables to AmeriCredit Financial Services of Canada Ltd. without first obtaining the consent of any person. No delegation or sub-contracting by the Servicer of its duties herein in the manner described in this Section 8.6 shall relieve the Servicer of its responsibility with respect to such duties.

SECTION 8.7. Servicer and Backup Servicer Not to Resign. Subject to the provisions of Section 8.4, neither the Servicer nor the Backup Servicer shall resign from the obligations and duties imposed on it by this Agreement as Servicer or Backup Servicer except upon a determination that by reason of a change in legal requirements the performance of its duties under this Agreement would cause it to be in violation of such legal requirements in a manner which would have a material adverse effect on the Servicer or the Backup Servicer, as the case may be, and the Insurer (so long as an Insurer Default shall not have occurred and be continuing) or a Note Majority (if an Insurer Default shall have occurred and be continuing) does not elect to waive the obligations of the Servicer or the Backup Servicer, as the case may be, to perform the duties which render it legally unable to act or to delegate those duties to another Person. Any such determination permitting the resignation of the Servicer or Backup Servicer shall be evidenced by an Opinion of Counsel to such effect delivered and acceptable to the Trust Collateral Agent, the Owner Trustee and the Insurer (unless an Insurer Default shall have occurred and be continuing). No resignation of the Servicer shall become effective until, so long as no Insurer Default shall have occurred and be continuing, the Backup Servicer or an entity acceptable to the Insurer shall have assumed the responsibilities and obligations of the Servicer or, if an Insurer Default shall have occurred and be continuing, the Backup Servicer or a successor Servicer that is an eligible servicer shall have assumed the responsibilities and obligations of the Servicer. No resignation of the Backup Servicer shall become effective until, so long as no Insurer Default shall have occurred and be continuing, an entity acceptable to the Insurer shall have assumed the responsibilities and obligations of the Backup Servicer or, if an Insurer Default shall have occurred and be continuing, a Person that is an eligible servicer shall have assumed the responsibilities and obligations of the Backup Servicer; provided, however, that (i) in the event a successor Backup Servicer is not appointed within 60 days after the Backup Servicer has given notice of its resignation and has provided the Opinion of Counsel required by this Section, the Backup Servicer may petition a court for its removal, (ii) the Backup Servicer may resign with the written consent of the Insurer, and (iii) if Wells Fargo Bank, National Association, resigns as Trustee under the Indenture it will no longer be the Backup Servicer.

 

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ARTICLE IX

Default

SECTION 9.1. Servicer Termination Event. For purposes of this Agreement, each of the following shall constitute a “Servicer Termination Event”:

(a) Any failure by the Servicer to deliver to the Trust Collateral Agent for distribution to Noteholders any proceeds or payment required to be so delivered under the terms of this Agreement that continues unremedied for a period of two Business Days (one Business Day with respect to payment of Purchase Amounts) after written notice is received by the Servicer from the Trust Collateral Agent or (unless an Insurer Default shall have occurred and be continuing) the Insurer or after discovery of such failure by a Responsible Officer of the Servicer; or

(b) Failure by the Servicer to deliver to the Trust Collateral Agent and (so long as an Insurer Default shall not have occurred and be continuing) the Insurer the Servicer’s Certificate by the first Business Day prior to the Distribution Date, or failure on the part of the Servicer to observe its covenants and agreements set forth in Section 8.4(a); or

(c) Failure on the part of the Servicer duly to observe or perform any other covenants or agreements of the Servicer set forth in this Agreement, which failure (i) materially and adversely affects the rights of Noteholders (determined without regard to the availability of funds under the Note Policy), or of the Insurer (unless an Insurer Default shall have occurred and be continuing), and (ii) continues unremedied for a period of 30 days after knowledge thereof by the Servicer or after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Servicer by the Trust Collateral Agent or the Insurer (or, if an Insurer Default shall have occurred and be continuing by any Noteholder); or

(d) The entry of a decree or order for relief by a court or regulatory authority having jurisdiction in respect of the Servicer in an involuntary case under the federal bankruptcy laws, as now or hereafter in effect, or another present or future, federal bankruptcy, insolvency or similar law, or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Servicer, or of any substantial part of its property or ordering the winding up or liquidation of the affairs of the Servicer and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days or the commencement of an involuntary case under the federal bankruptcy laws, as now or hereinafter in effect, or another present or future federal or state bankruptcy, insolvency or similar law and such case is not dismissed within 60 days; or

(e) The commencement by the Servicer of a voluntary case under the federal bankruptcy laws, as now or hereafter in effect, or any other present or future, federal or state, bankruptcy, insolvency or similar law, or the consent by the Servicer to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Servicer or of any substantial part of its property or the making by the Servicer of an assignment for the benefit of creditors or the failure by the Servicer generally to pay its debts as such debts become due or the taking of corporate action by the Servicer in furtherance of any of the foregoing; or

 

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(f) Any representation, warranty or statement of the Servicer made in this Agreement or any certificate, report or other writing delivered pursuant hereto shall prove to be incorrect in any material respect as of the time when the same shall have been made, and the incorrectness of such representation, warranty or statement has a material adverse effect on the Insurer, the Trust or the Noteholders and, within 30 days after knowledge thereof by the Servicer or after written notice thereof shall have been given to the Servicer by the Trust Collateral Agent or the Insurer (or, if an Insurer Default shall have occurred and be continuing, a Noteholder), the circumstances or condition in respect of which such representation, warranty or statement was incorrect shall not have been eliminated or otherwise cured; or

(g) So long as an Insurer Default shall not have occurred and be continuing, an Insurance Agreement Event of Default occurs or an Event of Default under any other Insurance and Indemnity Agreement relating to any other securitization sponsored by AmeriCredit, or an Affiliate of AmeriCredit, and insured by the Insurer, or an Affiliate of the Insurer, shall have occurred; or

(h) A claim is made under the Note Policy.

SECTION 9.2. Consequences of a Servicer Termination Event. If a Servicer Termination Event shall occur and be continuing, the Insurer (or, if an Insurer Default shall have occurred and be continuing either the Trust Collateral Agent, (to the extent it has knowledge thereof) or a Note Majority), by notice given in writing to the Servicer (and to the Trust Collateral Agent if given by the Insurer or the Noteholders) may terminate all of the rights and obligations of the Servicer under this Agreement. On or after the receipt by the Servicer of such written notice or upon termination of the term of the Servicer, all authority, power, obligations and responsibilities of the Servicer under this Agreement, whether with respect to the Notes, the Certificates or the Other Conveyed Property or otherwise, automatically shall pass to, be vested in and become obligations and responsibilities of the Backup Servicer (or such other successor Servicer appointed by the Controlling Party); provided, however, that the successor Servicer shall have no liability with respect to any obligation which was required to be performed by the terminated Servicer prior to the date that the successor Servicer becomes the Servicer or any claim of a third party based on any alleged action or inaction of the terminated Servicer. The successor Servicer is authorized and empowered by this Agreement to execute and deliver, on behalf of the terminated Servicer, as attorney-in-fact or otherwise, any and all documents and other instruments and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and endorsement of the Receivables and the Other Conveyed Property and related documents to show the Trust as lienholder or secured party on the related Lien Certificates, or otherwise. The terminated Servicer agrees to cooperate with the successor Servicer in effecting the termination of the responsibilities and rights of the terminated Servicer under this Agreement, including, without limitation, the transfer to the successor Servicer for administration by it of all cash amounts that shall at the time be held by the terminated Servicer for deposit, or have been deposited by the terminated Servicer, in the Collection Account or thereafter received with respect to the Receivables and the delivery to the successor Servicer of all Receivable Files,

 

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Monthly Records and Collection Records and a computer tape in readable form as of the most recent Business Day containing all information necessary to enable the successor Servicer to service the Receivables and the Other Conveyed Property. If requested by the Controlling Party, the successor Servicer shall terminate the Lockbox Agreements and direct the Obligors to make all payments under the Receivables directly to the successor Servicer (in which event the successor Servicer shall process such payments in accordance with Section 4.2(e)), or to a lockbox established by the successor Servicer at the direction of the Controlling Party, at the successor Servicer’s expense. The terminated Servicer shall grant the Trust Collateral Agent, the successor Servicer and the Controlling Party reasonable access to the terminated Servicer’s premises at the terminated Servicer’s expense.

SECTION 9.3. Appointment of Successor.

(a) On and after the time the Servicer receives a notice of termination pursuant to Section 9.2, or upon the resignation of the Servicer pursuant to Section 8.7; (i) the Backup Servicer (unless the Controlling Party shall have exercised its option pursuant to Section 9.3(b) to appoint an alternate successor Servicer) shall be the successor in all respects to the Servicer, in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated herein. The Trust Collateral Agent and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to termination under Section 9.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer.

(b) The Controlling Party may exercise at any time its right to appoint as Backup Servicer or as successor to the Servicer a Person other than the Person serving as Backup Servicer at the time, and (without limiting its obligations under the Note Policy) shall have no liability to the Trust Collateral Agent, AmeriCredit, the Seller, the Person then serving as Backup Servicer, any Noteholders or any other Person if it does so. Notwithstanding the above, if the Backup Servicer shall be legally unable or unwilling to act as Servicer, and an Insurer Default shall have occurred and be continuing, the Backup Servicer, the Trust Collateral Agent or a Note Majority may petition a court of competent jurisdiction to appoint any eligible servicer as the successor to the Servicer. Pending appointment pursuant to the preceding sentence, the Backup Servicer shall act as successor Servicer unless it is legally unable to do so, in which event the outgoing Servicer shall continue to act as Servicer until a successor has been appointed and accepted such appointment. Subject to Section 8.7, no provision of this Agreement shall be construed as relieving the Backup Servicer of its obligation to succeed as successor Servicer upon the termination of the Servicer pursuant to Section 9.2 or the resignation of the Servicer pursuant to Section 8.7. If upon the termination of the Servicer pursuant to Section 9.2 or the resignation of the Servicer pursuant to Section 8.7, the Controlling Party appoints a successor Servicer other than the Backup Servicer, the Backup Servicer shall not be relieved of its duties as Backup Servicer hereunder. In the event any successor Servicer is terminated pursuant to Section 9.2 hereof, the Controlling Party may appoint an eligible servicer as successor Servicer or may petition a court of competent jurisdiction to appoint a Person that it determines is competent to perform the duties of the Servicer hereunder as successor Servicer. Pending appointment pursuant to the preceding sentence, the outgoing Servicer shall continue to act as Servicer until a successor has been appointed and accepted such appointment.

 

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(c) Any successor Servicer shall be entitled to such compensation (whether payable out of the Collection Account or otherwise) as the Servicer would have been entitled to under this Agreement if the Servicer had not resigned or been terminated hereunder or such other compensation as agreed to by the Insurer in writing, if no Insurer Default has occurred and is continuing, or if an Insurer Default has occurred and is continuing, by a Note Majority, and the successor Servicer. If any successor Servicer is appointed, as a result of the Backup Servicer’s refusal (in breach of the terms of this Agreement) to act as Servicer although it is legally able to do so, the Insurer and such successor Servicer may agree on reasonable additional compensation to be paid to such successor Servicer; provided, however, it being understood and agreed that the Insurer shall give prior notice to the Backup Servicer with respect to the appointment of such successor and the payment of additional compensation, if any. If any successor Servicer is appointed for any reason other than the Backup Servicer’s refusal to act as Servicer although legally able to do so, the Insurer, so long as no Insurer Default has occurred and is continuing, or if an Insurer Default has occurred and is continuing, a Note Majority and such successor Servicer may agree on additional compensation to be paid to such successor Servicer, which additional compensation shall in no event exceed $150,000 per annum in the aggregate. The Backup Servicer shall be liable for any Servicing Fee, additional compensation or other amounts to be paid to such successor Servicer in connection with its assumption and performance of the servicing duties described herein if, and only if, such successor Servicer is appointed due to the Backup Servicer’s refusal to act as Servicer although legally able to do so, which additional compensation and other amounts shall in no event exceed $150,000 per annum in the aggregate.

(d) Notwithstanding anything contained in this Agreement to the contrary, the Backup Servicer is authorized to accept and rely on all of the accounting records (including computer records) and work of the prior Servicer relating to the Receivables (collectively, the “Predecessor Servicer Work Product”) without any audit or other examination thereof, and the Backup Servicer shall have no duty, responsibility, obligation or liability for the acts and omissions of the prior Servicer. If any error, inaccuracy, omission or incorrect or non-standard practice or procedure (collectively, “Errors”) exist in any Predecessor Servicer Work Product and such Errors make it materially more difficult to service or should cause or materially contribute to the Backup Servicer making or continuing any Errors (collectively, “Continuing Errors”), the Backup Servicer shall have no duty, responsibility, obligation or liability for such Continuing Errors; provided, however, that the Backup Servicer agrees to use its best efforts to prevent further Continuing Errors. In the event that the Backup Servicer becomes aware of Errors or Continuing Errors, it shall, with the prior consent of the Controlling Party use its best efforts to reconstruct and reconcile such data as is commercially reasonable to correct such Errors and Continuing Errors and to prevent future Continuing Errors. The Backup Servicer shall be entitled to recover its costs thereby expended in accordance with Section 3.03 of the Spread Account Agreement.

SECTION 9.4. Notification to Noteholders. Upon any termination of, or appointment of a successor to, the Servicer or Backup Servicer, the Trust Collateral Agent shall give prompt written notice thereof to each Noteholder and the Insurer and to the Rating Agencies.

 

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SECTION 9.5. Waiver of Past Defaults. So long as no Insurer Default shall have occurred and be continuing, the Insurer (or, if an Insurer Default shall have occurred and be continuing, the Note Majority) may, on behalf of all Noteholders, waive any default by the Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Termination Event arising therefrom shall be deemed to have been remedied for every purpose of this Agreement and the Basic Documents. No such waiver shall extend to any subsequent or other default or impair any right consequent thereto.

SECTION 9.6. Backup Servicer Termination. Prior to an appointment as successor Servicer, the Controlling Party may, in its sole discretion, with the consent of the Servicer, not to be unreasonably withheld, so long as no Servicer Termination Event shall have occurred or be continuing, (a) terminate all of the rights and obligations of the Backup Servicer under this Agreement in the event of a breach of any of the representations or warranties, covenants or obligations of the Backup Servicer contained in this Agreement or (b) with or without cause upon not less than 30 days’ notice, terminate the rights and obligations of the Backup Servicer. The terminated Backup Servicer agrees to cooperate with any successor Backup Servicer appointed by the Controlling Party in effecting the termination of the responsibilities and rights of the terminated Backup Servicer under this Agreement, including, without limitation, the delivery to the successor Backup Servicer of all documents, records and electronic information related to the Receivables in the possession of the Backup Servicer. Expenses incurred by the Backup Servicer in respect of the foregoing sentence shall be reimbursed in accordance with Section 5.7(a).

ARTICLE X

Termination

SECTION 10.1. Optional Purchase of All Receivables.

(a) Subject to Section 10.1(a) of the Indenture, on the last day of any Collection Period as of which the Pool Balance shall be less than or equal to 10% of the Original Pool Balance, the Servicer and the Seller each shall have the option to purchase the Owner Trust Estate, other than the Trust Accounts (with the consent of the Insurer if such purchase would result in a claim on the Note Policy or in any amount due to the Insurer under the Insurance Agreement remaining unpaid); provided, however, that the amount to be paid for such purchase (as set forth in the following sentence) shall be sufficient to pay the full amount of principal, and interest then due and payable on the Notes. To exercise such option, the Servicer or the Seller, as the case may be, shall deposit pursuant to Section 5.6 in the Collection Account an amount equal to the greater of (i) the amount necessary to pay the full amount of principal, premium if any, and interest then due and payable on the Notes and all amounts due and unpaid to the Insurer under the Insurance Agreement and (ii) the aggregate Purchase Amount for the Receivables (including Liquidated Receivables), plus the appraised value of any other property held by the Trust (such value to be determined by the Servicer or, if the Insurer reasonably believes or the Trust Collateral Agent has received written notice that there is a material error in the Servicer’s calculation, by an appraiser mutually agreed upon by the Servicer, the Insurer and the Trust Collateral Agent) and shall succeed to all interests in and to the Trust.

 

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(b) Upon any sale of the assets of the Trust pursuant to Section 8.1 of the Trust Agreement, the Servicer shall instruct the Trust Collateral Agent to deposit the proceeds from such sale after all payments and reserves therefrom (including the expenses of such sale) have been made (the “Insolvency Proceeds”) in the Collection Account.

(c) Notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee, the Trustee, the Backup Servicer, the Trust Collateral Agent, the Collateral Agent, the Insurer and the Rating Agencies as soon as practicable after the Servicer has received notice thereof.

(d) Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders will succeed to the rights of the Noteholders hereunder and the Owner Trustee will succeed to the rights of, and assume the obligations of, the Trust Collateral Agent pursuant to this Agreement.

ARTICLE XI

Administrative Duties of the Servicer

SECTION 11.1. Administrative Duties.

(a) Duties with Respect to the Indenture. The Servicer shall perform all its duties and the duties of the Issuer under the Indenture. In addition, the Servicer shall consult with the Owner Trustee as the Servicer deems appropriate regarding the duties of the Issuer under the Indenture. The Servicer shall monitor the performance of the Issuer and shall advise the Owner Trustee when action is necessary to comply with the Issuer’s duties under the Indenture. The Servicer shall prepare for execution by the Issuer or shall cause the preparation by other appropriate Persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the Issuer to prepare, file or deliver pursuant to the Indenture. In furtherance of the foregoing, the Servicer shall take all necessary action that is the duty of the Issuer to take pursuant to the Indenture, including, without limitation, pursuant to Sections 2.7, 3.5, 3.6, 3.7, 3.9, 3.10, 3.17, 5.1, 5.4, 7.3, 8.3, 9.2, 9.3, 11.1 and 11.15 of the Indenture.

(b) Duties with Respect to the Issuer.

(i) In addition to the duties of the Servicer set forth in this Agreement or any of the Basic Documents, the Servicer shall perform such calculations and shall prepare for execution by the Issuer or the Owner Trustee or shall cause the preparation by other appropriate Persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the Issuer or the Owner Trustee to prepare, file or deliver pursuant to this Agreement or any of the Basic Documents or under state and federal tax and securities laws (including any filings required pursuant to the Sarbanes-Oxley Act of 2002 or any rule or regulation promulgated thereunder), and at the request of the Owner Trustee shall take all appropriate action that it is the duty of the Issuer to take pursuant to this Agreement or any of the Basic Documents, including, without

 

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limitation, pursuant to Sections 2.6 and 2.11 of the Trust Agreement. In accordance with the directions of the Issuer or the Owner Trustee, the Servicer shall administer, perform or supervise the performance of such other activities in connection with the Collateral (including the Basic Documents) as are not covered by any of the foregoing provisions and as are expressly requested by the Issuer or the Owner Trustee and are reasonably within the capability of the Servicer. The Servicer shall monitor the activities of the Issuer to ensure the Issuer’s compliance with Section 4.6 of the Trust Agreement and shall take all action necessary to ensure that the Issuer is operated in accordance with the provisions of such section.

(ii) Notwithstanding anything in this Agreement or any of the Basic Documents to the contrary, the Servicer shall be responsible for promptly notifying the Owner Trustee and the Trust Collateral Agent in the event that any withholding tax is imposed on the Issuer’s payments (or allocations of income) to an Owner (as defined in the Trust Agreement) as contemplated by this Agreement. Any such notice shall be in writing and specify the amount of any withholding tax required to be withheld by the Owner Trustee or the Trust Collateral Agent pursuant to such provision.

(iii) Notwithstanding anything in this Agreement or the Basic Documents to the contrary, the Servicer shall be responsible for performance of the duties of the Issuer set forth in Sections 5.1(a) and (b) of the Trust Agreement with respect to, among other things, accounting and reports to Owners (as defined in the Trust Agreement); provided, however, that once prepared by the Servicer, the Owner Trustee shall retain responsibility for the distribution of any necessary Schedule K-1s, as applicable, to enable the Certificateholder to prepare its federal and state income tax returns.

(iv) The Servicer shall perform the duties of the Servicer specified in Section 9.2 of the Trust Agreement required to be performed in connection with the resignation or removal of the Owner Trustee, and any other duties expressly required to be performed by the Servicer under this Agreement or any of the Basic Documents.

(v) In carrying out the foregoing duties or any of its other obligations under this Agreement, the Servicer may enter into transactions with or otherwise deal with any of its Affiliates; provided, however, that the terms of any such transactions or dealings shall be in accordance with any directions received from the Issuer and shall be, in the Servicer’s opinion, no less favorable to the Issuer in any material respect.

(c) Tax Matters. The Servicer shall prepare and file, on behalf of the Seller, all tax returns, tax elections, financial statements and such annual or other reports attributable to the activities engaged in by the Issuer as are necessary for preparation of tax reports, including without limitation forms 1099. All tax returns will be signed by the Seller or the Servicer.

(d) Non-Ministerial Matters. With respect to matters that in the reasonable judgment of the Servicer are non-ministerial, the Servicer shall not take any action pursuant to this Article unless within a reasonable time before the taking of such action, the Servicer shall have notified the Owner Trustee and the Trustee of the proposed action and the Owner Trustee and, with respect to items (A), (B), (C) and (D) below, the Trustee shall not have withheld consent. For the purpose of the preceding sentence, “non-ministerial matters” shall include:

 

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(A) the amendment of or any supplement to the Indenture;

(B) the initiation of any claim or lawsuit by the Issuer and the compromise of any action, claim or lawsuit brought by or against the Issuer (other than in connection with the collection of the Receivables);

(C) the amendment, change or modification of this Agreement or any of the Basic Documents;

(D) the appointment of successor Note Registrars, successor Paying Agents and successor Trustees pursuant to the Indenture or the appointment of successor Servicers or the consent to the assignment by the Note Registrar, Paying Agent or Trustee of its obligations under the Indenture; and

(E) the removal of the Trustee or the Trust Collateral Agent.

(e) Exceptions. Notwithstanding anything to the contrary in this Agreement, except as expressly provided herein or in the other Basic Documents, the Servicer, in its capacity hereunder, shall not be obligated to, and shall not, (1) make any payments to the Noteholders or Certificateholders under the Basic Documents, (2) sell the Trust Property pursuant to Section 5.5 of the Indenture, (3) take any other action that the Issuer directs the Servicer not to take on its behalf or (4) in connection with its duties hereunder assume any indemnification obligation of any other Person.

(f) The Backup Servicer or any successor Servicer shall not be responsible for any obligations or duties of the Servicer under this Section 11.1. Notwithstanding the foregoing or any other provision of this Agreement, AmeriCredit shall continue to perform the obligations of the Servicer under this Section 11.1.

SECTION 11.2. Records. The Servicer shall maintain appropriate books of account and records relating to services performed under this Agreement, which books of account and records shall be accessible for inspection by the Issuer and the Insurer at any time during normal business hours.

SECTION 11.3. Additional Information to be Furnished to the Issuer. The Servicer shall furnish to the Issuer and the Insurer from time to time such additional information regarding the Collateral as the Issuer and the Insurer shall reasonably request.

ARTICLE XII

Miscellaneous Provisions

SECTION 12.1. Amendment.

 

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(a) This Agreement may be amended from time to time by the parties hereto, with the consent of the Trustee (which consent may not be unreasonably withheld), with the written consent of the Insurer (so long as no Insurer Default has occurred and is continuing) but without the consent of any of the Noteholders, to cure any ambiguity, to correct or supplement any provisions in this Agreement, to comply with any changes in the Code, or to make any other provisions with respect to matters or questions arising under this Agreement which shall not be inconsistent with the provisions of this Agreement or the Insurance Agreement; provided, however, that such action shall not, as evidenced by an Opinion of Counsel delivered to Owner Trustee, the Insurer and the Trustee, adversely affect in any material respect the interests of any Noteholder; provided further that if an Insurer Default has occurred and is continuing, such action shall not materially adversely affect the interests of the Insurer; provided, however, that with respect to tax matters, such action shall not be deemed to adversely affect in any material respect the interests of any Noteholder if, for federal income tax purposes, the action does not cause the issuing entity to be treated as an association or publicly traded partnership taxable as a corporation, create a reissuance of the Notes or cause the Notes that were characterized as debt at the time of issuance to fail to qualify as debt.

This Agreement may also be amended from time to time by the parties hereto, with the prior written consent of the Insurer (so long as no Insurer Default has occurred and is continuing), the consent of the Trustee, and with the consent of the Holders of Notes evidencing not less than a majority of the outstanding principal amount of the Notes for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders; provided, however, that no such amendment shall (a) increase or reduce in any manner the amount of, or accelerate or delay the timing of, collections of payments on Receivables or distributions that shall be required to be made for the benefit of the Noteholders or (b) reduce the aforesaid percentage of the outstanding principal amount of the Notes, the Holders of which are required to consent to any such amendment, without the consent of the Holders of all the outstanding Notes of each class affected thereby; provided, further, that if an Insurer Default has occurred and is continuing, such action shall not materially adversely affect the interest of the Insurer.

Promptly after the execution of any such amendment or consent, the Trust Collateral Agent shall furnish written notification of the substance of such amendment or consent to each Noteholder and the Rating Agencies.

It shall not be necessary for the consent of the Noteholders pursuant to this Section to approve the particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining such consents (and any other consents of Noteholders provided for in this Agreement) and of evidencing the authorization of any action by Noteholders shall be subject to such reasonable requirements as the Trustee or the Owner Trustee, as applicable, may prescribe.

Prior to the execution of any amendment to this Agreement, the Owner Trustee and the Trustee, the Trust Collateral Agent, the Collateral Agent and the Backup Servicer shall be entitled to receive and conclusively rely upon an Opinion of Counsel (which shall also be delivered to the Insurer) stating that the execution of such amendment is authorized or permitted by this Agreement and the Opinion of Counsel referred to in Section 12.2(h)(1) has been

 

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delivered. The Owner Trustee, the Trust Collateral Agent, the Backup Servicer and the Trustee may, but shall not be obligated to, enter into any such amendment which affects the Issuer’s, the Owner Trustee’s, the Trust Collateral Agent’s, the Backup Servicer’s or the Trustee’s, as applicable, own rights, duties or immunities under this Agreement or otherwise.

(b) Notwithstanding anything to the contrary contained in Section 12.1(a) above, the provisions of this Agreement relating to (i) the Spread Account Agreement, the Spread Account, a Trigger Event or any component definition of a Trigger Event and (ii) any additional sources of funds which may be added to the Spread Account or uses of funds on deposit in the Spread Account may be amended in any respect by the Seller, the Servicer, the Insurer and the Collateral Agent (the consent of which shall not be withheld or delayed with respect to any amendment that does not adversely affect the Collateral Agent) without the consent of, or notice to, the Noteholders.

SECTION 12.2. Protection of Title to Trust.

(a) The Seller shall execute and file such financing statements and cause to be executed and filed such continuation statements, all in such manner and in such places as may be required by law fully to preserve, maintain and protect the interest of the Issuer and the interests of the Trust Collateral Agent in the Receivables and in the proceeds thereof. The Seller shall deliver (or cause to be delivered) to the Insurer, the Owner Trustee and the Trust Collateral Agent file-stamped copies of, or filing receipts for, any document filed as provided above, as soon as available following such filing.

(b) Neither the Seller nor the Servicer shall change its name, identity or corporate structure in any manner that would, could or might make any financing statement or continuation statement filed in accordance with paragraph (a) above seriously misleading within the meaning of 9-506 of the UCC, unless it shall have given the Insurer, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer and the Trustee at least five days’ prior written notice thereof and shall have promptly filed appropriate amendments to all previously filed financing statements or continuation statements. Promptly upon such filing, the Seller or the Servicer, as the case may be, shall deliver an Opinion of Counsel in form and substance reasonably satisfactory to the Insurer, stating either (A) all financing statements and continuation statements have been executed and filed that are necessary fully to preserve and protect the interest of the Trust and the Trust Collateral Agent in the Receivables, and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (B) no such action shall be necessary to preserve and protect such interest.

(c) Each of the Seller and the Servicer shall have an obligation to give the Insurer, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer and the Trustee at least 60 days’ prior written notice of any relocation of its principal executive office or jurisdiction of organization if, as a result of such relocation, the applicable provisions of the UCC would require the filing of any amendment of any previously filed financing or continuation statement or of any new financing statement and shall promptly file any such amendment or new financing statement. The Servicer shall at all times maintain (i) each office from which it shall service Receivables within the United States of America or Canada, and (ii) its principal executive office within the United States of America.

 

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(d) The Servicer shall maintain accounts and records as to each Receivable accurately and in sufficient detail to permit (i) the reader thereof to know at any time the status of such Receivable, including payments and recoveries made and payments owing (and the nature of each) and (ii) reconciliation between payments or recoveries on (or with respect to) each Receivable and the amounts from time to time deposited in the Collection Account in respect of such Receivable.

(e) The Servicer shall maintain its computer systems so that, from and after the time of sale under this Agreement of the Receivables to the Issuer, the Servicer’s master computer records (including any backup archives) that refer to a Receivable shall indicate clearly the interest of the Trust in such Receivable and that such Receivable is owned by the Trust. Indication of the Trust’s interest in a Receivable shall be deleted from or modified on the Servicer’s computer systems when, and only when, the related Receivable shall have been paid in full or repurchased or sold pursuant to this Agreement.

(f) If at any time the Seller or the Servicer shall propose to sell, grant a security interest in or otherwise transfer any interest in automotive receivables to any prospective purchaser, lender or other transferee, the Servicer shall give to such prospective purchaser, lender or other transferee computer tapes, records or printouts (including any restored from backup archives) that, if they shall refer in any manner whatsoever to any Receivable, shall indicate clearly that such Receivable has been sold and is owned by the Trust.

(g) Upon request, the Servicer shall furnish to the Insurer, the Owner Trustee, the Backup Servicer or to the Trustee, within five Business Days, a list of all Receivables (by contract number and name of Obligor) then held as part of the Trust, together with a reconciliation of such list to the Schedule of Receivables and to each of the Servicer’s Certificates furnished before such request indicating removal of Receivables from the Trust.

(h) The Servicer shall deliver to the Insurer, the Backup Servicer, the Owner Trustee and the Trustee:

(1) promptly after the execution and delivery of the Agreement and, if required pursuant to Section 12.1, of each amendment, an Opinion of Counsel stating that, in the opinion of such Counsel, in form and substance reasonably satisfactory to the Insurer, either (A) all financing statements and continuation statements have been executed and filed that are necessary fully to preserve and protect the interest of the Trust and the Trust Collateral Agent in the Receivables, and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (B) no such action shall be necessary to preserve and protect such interest; and

(2) within 90 days after the beginning of each calendar year beginning with the first calendar year beginning more than three months after the Cutoff Date, an Opinion of Counsel, dated as of a date during such 90-day period, stating that, in the opinion of such counsel, either (A) all financing statements and continuation statements have been executed and filed that are necessary fully to preserve and protect the interest of the Trust and the Trust Collateral Agent in the Receivables, and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (B) no such action shall be necessary to preserve and protect such interest.

 

76


Each Opinion of Counsel referred to in clause (1) or (2) above shall specify any action necessary (as of the date of such opinion) to be taken in the following year to preserve and protect such interest.

SECTION 12.3. Notices. All demands, notices and communications upon or to the Seller, the Servicer, the Owner Trustee, the Trustee, the Collateral Agent, the Backup Servicer, the Trust Collateral Agent, the Insurer or the Rating Agencies under this Agreement shall be in writing, personally delivered, electronically delivered, mailed by certified mail, return receipt requested, federal express or similar overnight courier service, and shall be deemed to have been duly given upon receipt (a) in the case of the Seller to AFS SenSub Corp., 2265 B Renaissance Drive, Suite 17, Las Vegas, Nevada, 89119, Attention: Chief Financial Officer, (b) in the case of the Servicer to AmeriCredit Financial Services, Inc., 801 Cherry Street, Suite 3500, Fort Worth, Texas 76102, Attention: Chief Financial Officer, (c) in the case of the Issuer or the Owner Trustee, at the Corporate Trust Office of the Owner Trustee, Wilmington Trust Company, Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890-0001, Attention: Corporate Trust Administration (d) in the case of the Trustee, the Collateral Agent, the Backup Servicer or the Trust Collateral Agent, Wells Fargo Bank, National Association Sixth Street and Marquette Avenue, MAC N9311-161, Minneapolis, Minnesota 55479, Attention: Corporate Trust Office, (e) in the case of the Insurer, to Assured Guaranty Corp., 31 West 52nd Street, New York, New York 10019; Attention: Senior Vice President, Surveillance (in each case in which notice or other communication to the Insurer refers to a Servicer Termination Event, a claim on the Note Policy, a Deficiency Notice pursuant to Section 5.5 of this Agreement or with respect to which failure on the part of the Insurer to respond shall be deemed to constitute consent or acceptance, then a copy of such notice or other communication should also be sent to the attention of the General Counsel of Assured Guaranty and, in all cases, any original and each copy shall be marked to indicate “URGENT MATERIAL ENCLOSED”); (f) in the case of Moody’s, to Moody’s Investors Service, Inc., ABS Monitoring Department, 7 World Trade Center at 250 Greenwich Street, Asset Finance Group— 24th Floor, New York, New York 10007; and (g) in the case of Standard & Poor’s, via electronic delivery to Servicer_reports@sandp.com, or, for any information not available in electronic format, to Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business, 55 Water Street, 41st Floor, New York, New York 10041-0003, Attention: ABS Surveillance Group. Any notice required or permitted to be mailed to a Noteholder shall be given by first class mail, postage prepaid, at the address of such Holder as shown in the Note Register. Any notice so mailed within the time prescribed in the Agreement shall be conclusively presumed to have been duly given, whether or not the Noteholder shall receive such notice.

SECTION 12.4. Assignment. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns. Notwithstanding anything to the contrary contained herein, except as provided in Sections 7.4 and 8.4 and as provided in the provisions of this Agreement concerning the resignation of the Servicer, this Agreement may not be assigned by the Seller or the Servicer without the prior written consent of the Owner Trustee, the Trust Collateral Agent, the Backup Servicer, the Trustee and the Insurer (or if an Insurer Default shall have occurred and be continuing the Holders of Notes evidencing not less than 66-2/3% of the principal amount of the outstanding Notes).

 

77


SECTION 12.5. Limitations on Rights of Others. The provisions of this Agreement are solely for the benefit of the parties hereto, and of the Trustee, the Insurer and the Noteholders, as third-party beneficiaries. The Insurer and each of its successors and assigns shall be a third-party beneficiary to the provisions of this Agreement, and shall be entitled to rely upon and directly enforce such provisions of this Agreement so long as no Insurer Default shall have occurred and be continuing; provided, however, that any right or benefit expressly granted to the Insurer under this Agreement shall survive and the Insurer shall remain a third-party beneficiary hereunder to enforce such right or obtain such benefit, notwithstanding the occurrence and continuance of an Insurer Default, unless such right or benefit is expressly conditioned upon no Insurer Default having occurred and be continuing. Except as expressly stated otherwise herein, any right of the Insurer to direct, appoint, consent to, approve of, or take any action under this Agreement, shall be a right exercised by the Insurer in its sole and absolute discretion. The Insurer may disclaim any of its rights and powers under this Agreement (but not its duties and obligations under the Note Policy) upon delivery of a written notice to the Owner Trustee. 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 the Owner Trust Estate or under or in respect of this Agreement or any covenants, conditions or provisions contained herein.

SECTION 12.6. Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

SECTION 12.7. Separate Counterparts. This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute but one and the same instrument.

SECTION 12.8. 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 12.9. Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND THIS AGREEMENT AND ALL MATTERS ARISING OUT OF OR RELATING IN ANY WAY TO THIS AGREEMENT SHALL BE, GOVERNED BY, THE LAW OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

SECTION 12.10. Assignment to Trust Collateral Agent. The Seller hereby acknowledges and consents to any mortgage, pledge, assignment and grant of a security interest by the Issuer to the Trust Collateral Agent pursuant to the Indenture for the benefit of the Noteholders of all right, title and interest of the Issuer in, to and under the Receivables listed in Schedule A hereto and/or the assignment of any or all of the Issuer’s rights and obligations hereunder to the Trust Collateral Agent.

 

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SECTION 12.11. Nonpetition Covenants. (a) Notwithstanding any prior termination of this Agreement, the Servicer and the Seller shall not, prior to the date which is one year and one day after the termination of this Agreement with respect to the Issuer, acquiesce, petition or otherwise invoke or cause the Issuer to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Issuer under any federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuer or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Issuer.

(b) Notwithstanding any prior termination of this Agreement, the Servicer shall not, prior to the date that is one year and one day after the termination of this Agreement with respect to the Seller, acquiesce to, petition or otherwise invoke or cause the Seller to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Seller under any federal or state bankruptcy, insolvency or similar law, appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator, or other similar official of the Seller or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Seller.

SECTION 12.12. Limitation of Liability of Owner Trustee and Trust Collateral Agent.

(a) Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned by Wilmington Trust Company not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer and in no event shall Wilmington Trust Company in its individual capacity or, except as expressly provided in the Trust Agreement, as Owner Trustee have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer. For all purposes of this Agreement, in the performance of its duties or obligations hereunder or in the performance of any duties or obligations of the Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Articles V, VI and VII of the Trust Agreement.

(b) Notwithstanding anything contained herein to the contrary, this Agreement has been executed and delivered by Wells Fargo Bank, National Association, not in its individual capacity but solely as Trust Collateral Agent and Backup Servicer and in no event shall Wells Fargo Bank, National Association, have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer.

(c) In no event shall Wells Fargo Bank, National Association, in any of its capacities hereunder, be deemed to have assumed any duties of the Owner Trustee under the Delaware Statutory Trust Statute, common law, or the Trust Agreement.

SECTION 12.13. Independence of the Servicer. For all purposes of this Agreement, the Servicer shall be an independent contractor and shall not be subject to the

 

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supervision of the Issuer, the Trust Collateral Agent and the Backup Servicer or the Owner Trustee with respect to the manner in which it accomplishes the performance of its obligations hereunder. Unless expressly authorized by this Agreement, the Servicer shall have no authority to act for or represent the Issuer or the Owner Trustee in any way and shall not otherwise be deemed an agent of the Issuer or the Owner Trustee.

SECTION 12.14. No Joint Venture. Nothing contained in this Agreement (i) shall constitute the Servicer and either of the Issuer or the Owner Trustee as members of any partnership, joint venture, association, syndicate, unincorporated business or other separate entity, (ii) shall be construed to impose any liability as such on any of them or (iii) shall be deemed to confer on any of them any express, implied or apparent authority to incur any obligation or liability on behalf of the others.

SECTION 12.15. State Business Licenses. The Servicer or the Certificateholder shall prepare and instruct the Trust to file each state business license (and any renewal thereof) required to be filed under applicable state law without further consent or instruction from the Instructing Party (as defined in the Trust Agreement), including a Sales Finance Company Application (and any renewal thereof) with the Pennsylvania Department of Banking, Licensing Division, and a Financial Regulation Application (and any renewal thereof) with the Maryland Department of Labor, Licensing and Regulation.

[Remainder of Page Intentionally Left Blank]

 

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

 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-A
By:   WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee on behalf of the Trust
By:   /s/ Bethany J. Taylor
  Name: Bethany J. Taylor
  Title:   Financial Services Officer
AFS SENSUB CORP., Seller,
By:   /s/ Sheli D. Fitzgerald
  Name: Sheli D. Fitzgerald
  Title:   Vice President, Structured Finance
AMERICREDIT FINANCIAL SERVICES, INC., Servicer,
By:   /s/ Susan B. Sheffield
  Name: Susan B. Sheffield
  Title:   Executive Vice President, Structured Finance

 

 

[Sale and Servicing Agreement]


WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Backup Servicer
By:   /s/ Marianna C. Stershic
  Name: Marianna C. Stershic
  Title:   Vice President

Acknowledged and accepted by

 

WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Trust Collateral Agent
By:   /s/ Marianna C. Stershic
  Name: Marianna C. Stershic
  Title:   Vice President

 

 

 

 

[Sale and Servicing Agreement]


SCHEDULE A

SCHEDULE OF RECEIVABLES

 

Sch-A-1


UCC-12010-A 3-31-10

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
421852211   424878353   442224408   443027479   443035746   443043054   443050422   443057757   443065198   443072509   443079835   443087127   443094461   443101787   443109095   443116314   443123542   443130786   443137997   443145255
422078311   424879286   442228185   443027487   443035753   443043062   443050430   443057765   443065206   443072517   443079843   443087135   443094479   443101795   443109103   443116322   443123559   443130794   443138003   443145263
422126540   424882256   442228334   443027495   443035761   443043070   443050448   443057781   443065214   443072525   443079850   443087143   443094487   443101803   443109111   443116330   443123567   443130802   443138011   443145271
422178723   424882868   442228680   443027529   443035779   443043088   443050455   443057799   443065222   443072533   443079868   443087150   443094495   443101811   443109129   443116348   443123575   443130810   443138029   443145289
422232694   424883312   442229191   443027545   443035787   443043096   443050463   443057807   443065230   443072541   443079876   443087168   443094503   443101829   443109137   443116355   443123583   443130828   443138037   443145297
422245704   424885317   442229308   443027552   443035795   443043104   443050471   443057815   443065248   443072558   443079884   443087176   443094511   443101837   443109145   443116363   443123591   443130836   443138052   443145305
422344366   424885523   442230793   443027586   443035803   443043112   443050489   443057823   443065255   443072566   443079892   443087184   443094529   443101845   443109152   443116371   443123609   443130844   443138060   443145313
422357855   424886216   442232112   443027594   443035811   443043120   443050497   443057831   443065263   443072582   443079900   443087192   443094537   443101852   443109160   443116389   443123617   443130851   443138078   443145321
422358424   424886307   442232153   443027602   443035829   443043138   443050505   443057849   443065271   443072590   443079918   443087200   443094545   443101860   443109178   443116397   443123625   443130869   443138086   443145339
422416354   424887487   442232740   443027628   443035837   443043146   443050513   443057856   443065289   443072608   443079926   443087218   443094552   443101878   443109186   443116405   443123633   443130877   443138094   443145347
422544031   424887602   442233029   443027636   443035845   443043153   443050521   443057864   443065305   443072616   443079934   443087226   443094560   443101886   443109194   443116413   443123641   443130885   443138102   443145354
422561852   424887933   442235594   443027644   443035852   443043161   443050539   443057872   443065313   443072624   443079942   443087234   443094578   443101894   443109202   443116421   443123658   443130893   443138110   443145362
422581777   424888857   442235925   443027651   443035860   443043179   443050547   443057880   443065321   443072632   443079959   443087242   443094586   443101902   443109210   443116439   443123666   443130901   443138128   443145370
422590661   424889343   442235958   443027669   443035878   443043187   443050554   443057898   443065339   443072640   443079967   443087259   443094594   443101910   443109228   443116447   443123674   443130919   443138136   443145388
422679829   424891265   442237327   443027677   443035886   443043195   443050562   443057906   443065347   443072657   443079975   443087267   443094602   443101928   443109236   443116454   443123682   443130927   443138144   443145396
422706374   424891455   442237418   443027685   443035894   443043203   443050570   443057914   443065354   443072665   443079983   443087275   443094610   443101936   443109244   443116462   443123690   443130935   443138151   443145404
422775197   424894525   442242426   443027693   443035902   443043211   443050588   443057922   443065362   443072673   443079991   443087291   443094628   443101944   443109251   443116470   443123708   443130943   443138169   443145412
422784132   424895704   442244224   443027719   443035910   443043229   443050596   443057930   443065370   443072681   443080007   443087309   443094644   443101951   443109269   443116488   443123716   443130950   443138177   443145420
422851998   424897502   442245627   443027727   443035928   443043237   443050604   443057948   443065388   443072699   443080015   443087317   443094651   443101969   443109277   443116496   443123724   443130968   443138185   443145438
422855080   424898195   442245650   443027750   443035936   443043245   443050612   443057955   443065396   443072707   443080023   443087325   443094669   443101977   443109285   443116504   443123732   443130976   443138193   443145446
422868398   424899300   442246211   443027768   443035944   443043252   443050620   443057963   443065404   443072715   443080031   443087333   443094677   443101985   443109293   443116512   443123740   443130984   443138201   443145453
423008010   424907202   442247565   443027776   443035951   443043278   443050638   443057971   443065412   443072723   443080049   443087341   443094685   443101993   443109301   443116520   443123757   443130992   443138219   443145461
423071539   424907525   442249439   443027792   443035969   443043286   443050646   443057989   443065420   443072731   443080056   443087358   443094693   443102009   443109319   443116538   443123765   443131008   443138227   443145479
423081256   424908291   442249801   443027818   443035977   443043294   443050653   443057997   443065438   443072749   443080064   443087366   443094701   443102017   443109327   443116546   443123773   443131016   443138235   443145487
423082098   424911287   442252292   443027826   443035985   443043302   443050679   443058003   443065446   443072756   443080072   443087374   443094719   443102025   443109335   443116553   443123781   443131024   443138243   443145495
423141993   424911477   442252565   443027834   443035993   443043310   443050687   443058011   443065453   443072764   443080080   443087382   443094727   443102041   443109343   443116561   443123799   443131032   443138250   443145503
423166388   424912129   442256806   443027842   443036009   443043328   443050695   443058029   443065461   443072772   443080098   443087390   443094735   443102058   443109350   443116579   443123807   443131040   443138268   443145511
423173202   424912137   442257051   443027867   443036017   443043336   443050703   443058045   443065479   443072780   443080106   443087408   443094743   443102066   443109368   443116587   443123815   443131057   443138276   443145529
423197896   424912558   442261608   443027891   443036025   443043344   443050711   443058052   443065487   443072798   443080114   443087416   443094750   443102074   443109376   443116595   443123823   443131065   443138284   443145537
423206069   424912574   442262952   443027909   443036033   443043351   443050729   443058060   443065495   443072806   443080122   443087424   443094768   443102108   443109384   443116603   443123831   443131073   443138292   443145545
423247592   424913507   442263091   443027917   443036041   443043369   443050737   443058078   443065503   443072814   443080130   443087432   443094776   443102116   443109392   443116611   443123849   443131081   443138300   443145552
423296516   424913531   442266698   443027925   443036058   443043377   443050745   443058086   443065511   443072822   443080148   443087457   443094784   443102132   443109400   443116629   443123856   443131099   443138318   443145560
423297886   424915270   442267514   443027933   443036066   443043385   443050752   443058094   443065529   443072830   443080155   443087465   443094792   443102140   443109418   443116637   443123864   443131107   443138326   443145578
423339407   424916104   442267753   443027941   443036074   443043393   443050760   443058102   443065537   443072848   443080163   443087473   443094800   443102157   443109426   443116645   443123872   443131115   443138334   443145586
423367440   424916187   442267886   443027958   443036082   443043401   443050778   443058110   443065552   443072855   443080171   443087481   443094818   443102165   443109434   443116652   443123880   443131123   443138342   443145594
423385004   424917284   442271268   443027966   443036090   443043419   443050786   443058128   443065560   443072863   443080189   443087499   443094826   443102173   443109442   443116660   443123898   443131131   443138359   443145602
423412030   424917979   442271581   443027974   443036108   443043427   443050794   443058136   443065578   443072871   443080197   443087507   443094834   443102181   443109459   443116678   443123906   443131149   443138367   443145610
423428697   424918290   442271847   443027982   443036116   443043435   443050802   443058144   443065586   443072889   443080205   443087515   443094842   443102199   443109467   443116686   443123914   443131156   443138375   443145628
423506021   424918555   442274452   443027990   443036124   443043443   443050810   443058151   443065594   443072897   443080213   443087523   443094859   443102207   443109475   443116694   443123922   443131164   443138383   443145636
423511252   424921583   442274767   443028006   443036132   443043450   443050828   443058169   443065602   443072905   443080221   443087531   443094867   443102215   443109483   443116702   443123930   443131172   443138391   443145644
423556877   424925915   442277117   443028014   443036140   443043468   443050836   443058177   443065610   443072913   443080239   443087549   443094875   443102223   443109491   443116710   443123948   443131180   443138409   443145651
423565357   424925949   442278271   443028030   443036157   443043476   443050844   443058185   443065628   443072921   443080247   443087556   443094883   443102231   443109509   443116728   443123955   443131198   443138417   443145669
423611284   424926681   442280020   443028055   443036165   443043484   443050851   443058193   443065636   443072939   443080254   443087564   443094891   443102249   443109517   443116736   443123963   443131206   443138425   443145677
423708577   424927630   442282034   443028063   443036173   443043492   443050869   443058201   443065644   443072947   443080262   443087572   443094909   443102256   443109525   443116744   443123971   443131214   443138433   443145685
423715754   424927663   442283297   443028089   443036181   443043500   443050877   443058219   443065651   443072954   443080270   443087580   443094917   443102264   443109533   443116751   443123989   443131222   443138441   443145693
423716489   424927713   442283867   443028097   443036199   443043518   443050885   443058227   443065669   443072962   443080288   443087598   443094925   443102272   443109541   443116769   443123997   443131230   443138458   443145701
423728203   424929537   442284964   443028105   443036207   443043526   443050893   443058235   443065677   443072970   443080296   443087606   443094933   443102280   443109558   443116777   443124003   443131248   443138466   443145719
423747369   424929685   442288270   443028113   443036215   443043534   443050901   443058243   443065685   443072988   443080304   443087614   443094941   443102298   443109566   443116785   443124011   443131255   443138474   443145727
423756295   424929750   442288767   443028121   443036223   443043542   443050919   443058250   443065693   443072996   443080312   443087622   443094958   443102306   443109574   443116793   443124029   443131271   443138482   443145735
423784636   424930287   442289468   443028139   443036231   443043559   443050927   443058268   443065701   443073002   443080320   443087630   443094966   443102314   443109582   443116801   443124037   443131289   443138490   443145743
423791219   424930584   442289542   443028162   443036249   443043567   443050935   443058276   443065719   443073010   443080338   443087648   443094974   443102322   443109590   443116819   443124045   443131297   443138508   443145750
423792837   424931301   442289583   443028170   443036256   443043575   443050943   443058284   443065727   443073028   443080346   443087655   443094982   443102330   443109608   443116827   443124052   443131305   443138516   443145768
423817113   424931467   442289872   443028188   443036264   443043583   443050950   443058292   443065735   443073036   443080361   443087663   443094990   443102348   443109616   443116835   443124060   443131313   443138524   443145776
423820422   424932713   442289971   443028196   443036272   443043591   443050968   443058300   443065743   443073044   443080379   443087671   443095005   443102355   443109624   443116843   443124078   443131321   443138532   443145784
423821594   424933315   442291357   443028204   443036280   443043609   443050976   443058318   443065750   443073051   443080387   443087697   443095013   443102363   443109632   443116850   443124086   443131339   443138540   443145792
423830868   424933794   442292603   443028212   443036298   443043617   443050984   443058326   443065768   443073069   443080395   443087705   443095021   443102371   443109640   443116868   443124094   443131347   443138557   443145800
423832609   424934610   442293015   443028220   443036306   443043625   443050992   443058334   443065776   443073077   443080403   443087713   443095039   443102389   443109657   443116876   443124102   443131354   443138565   443145818
423868728   424935070   442293627   443028238   443036314   443043633   443051008   443058342   443065784   443073085   443080411   443087721   443095047   443102397   443109665   443116884   443124110   443131362   443138573   443145826
423892330   424936250   442294013   443028246   443036322   443043641   443051016   443058359   443065792   443073093   443080429   443087739   443095054   443102405   443109673   443116892   443124128   443131370   443138581   443145834
423900968   424937043   442297966   443028253   443036330   443043658   443051024   443058367   443065800   443073101   443080437   443087747   443095062   443102413   443109681   443116900   443124136   443131388   443138599   443145842
423943448   424938645   442299160   443028279   443036348   443043666   443051032   443058375   443065818   443073127   443080445   443087754   443095070   443102421   443109699   443116918   443124144   443131396   443138607   443145859
423971167   424939148   442300125   443028287   443036355   443043674   443051040   443058383   443065826   443073135   443080452   443087762   443095088   443102439   443109707   443116934   443124151   443131404   443138615   443145867
423974260   424940088   442301891   443028295   443036363   443043682   443051057   443058391   443065834   443073143   443080460   443087770   443095096   443102447   443109715   443116942   443124169   443131412   443138623   443145875
423978899   424943256   442306643   443028303   443036371   443043690   443051065   443058409   443065842   443073150   443080478   443087788   443095104   443102454   443109723   443116959   443124177   443131420   443138631   443145883
423987320   424943611   442307047   443028311   443036389   443043708   443051073   443058417   443065859   443073176   443080486   443087796   443095112   443102462   443109731   443116967   443124185   443131438   443138649   443145891
423997543   424944023   442307963   443028329   443036397   443043716   443051081   443058425   443065867   443073184   443080494   443087804   443095120   443102470   443109749   443116975   443124193   443131446   443138656   443145909
423998681   424946051   442308409   443028337   443036405   443043724   443051099   443058433   443065875   443073192   443080502   443087812   443095138   443102488   443109756   443116983   443124201   443131453   443138664   443145917
424027274   424947786   442309837   443028345   443036413   443043732   443051107   443058441   443065883   443073200   443080510   443087820   443095146   443102496   443109764   443116991   443124219   443131461   443138672   443145925
424039212   424948743   442310538   443028352   443036421   443043740   443051115   443058458   443065891   443073218   443080528   443087838   443095153   443102504   443109772   443117007   443124227   443131479   443138680   443145933
424051993   424948750   442311494   443028360   443036447   443043757   443051131   443058466   443065909   443073226   443080536   443087846   443095161   443102512   443109780   443117015   443124235   443131487   443138698   443145941
424058766   424948933   442311585   443028378   443036454   443043765   443051149   443058474   443065917   443073234   443080544   443087853   443095179   443102520   443109798   443117023   443124243   443131495   443138706   443145958
424072130   424950178   442312138   443028386   443036462   443043773   443051156   443058482   443065925   443073242   443080551   443087861   443095187   443102538   443109806   443117031   443124250   443131503   443138714   443145966
424074383   424951358   442313201   443028394   443036470   443043781   443051164   443058490   443065933   443073259   443080569   443087879   443095195   443102546   443109814   443117049   443124268   443131511   443138722   443145974

2010-A Final Cut Legal Schedule of Receivables

 

Sch-A-2


UCC-12010-A 3-31-10

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424109114   424951457   442315230   443028410   443036488   443043799   443051172   443058508   443065941   443073267   443080577   443087887   443095203   443102553   443109822   443117056   443124276   443131529   443138730   443145982
424112308   424951564   442316329   443028444   443036496   443043807   443051180   443058516   443065958   443073275   443080585   443087895   443095211   443102561   443109830   443117064   443124284   443131537   443138748   443145990
424124931   424952620   442317517   443028451   443036504   443043815   443051198   443058524   443065966   443073283   443080593   443087903   443095229   443102579   443109848   443117072   443124292   443131545   443138755   443146006
424138410   424953545   442319059   443028469   443036512   443043823   443051206   443058532   443065974   443073291   443080601   443087911   443095237   443102587   443109855   443117080   443124300   443131552   443138763   443146014
424141653   424953982   442319695   443028477   443036520   443043831   443051214   443058540   443065982   443073309   443080619   443087929   443095245   443102595   443109863   443117098   443124318   443131560   443138771   443146022
424141893   424954972   442321931   443028501   443036538   443043849   443051222   443058557   443065990   443073317   443080627   443087937   443095252   443102603   443109871   443117106   443124326   443131578   443138789   443146030
424144244   424958973   442322400   443028519   443036546   443043856   443051230   443058565   443066006   443073325   443080635   443087945   443095260   443102611   443109889   443117114   443124334   443131586   443138797   443146048
424145605   424959914   442322574   443028527   443036553   443043864   443051248   443058573   443066014   443073333   443080643   443087952   443095278   443102629   443109897   443117122   443124342   443131594   443138805   443146055
424147254   424960425   442323200   443028535   443036561   443043872   443051255   443058581   443066022   443073341   443080650   443087960   443095286   443102637   443109905   443117130   443124359   443131602   443138813   443146063
424147783   424960953   442323739   443028543   443036579   443043880   443051263   443058599   443066030   443073358   443080668   443087978   443095294   443102645   443109913   443117148   443124375   443131610   443138821   443146071
424150860   424962082   442323986   443028550   443036595   443043898   443051271   443058607   443066048   443073366   443080676   443087986   443095302   443102652   443109921   443117155   443124383   443131628   443138839   443146089
424154862   424962587   442324513   443028568   443036603   443043906   443051289   443058615   443066055   443073374   443080684   443087994   443095310   443102660   443109939   443117163   443124391   443131636   443138847   443146097
424155893   424963676   442325221   443028576   443036611   443043914   443051297   443058623   443066063   443073390   443080692   443088000   443095328   443102678   443109947   443117171   443124409   443131644   443138854   443146105
424157766   424964278   442325296   443028584   443036629   443043922   443051305   443058631   443066071   443073408   443080700   443088018   443095336   443102686   443109954   443117189   443124417   443131651   443138862   443146113
424158020   424964344   442325551   443028592   443036637   443043930   443051313   443058649   443066089   443073416   443080718   443088034   443095344   443102694   443109962   443117197   443124425   443131669   443138870   443146121
424158723   424966059   442327862   443028600   443036645   443043948   443051321   443058656   443066097   443073424   443080726   443088042   443095351   443102702   443109970   443117205   443124433   443131677   443138888   443146139
424159176   424966422   442328241   443028618   443036652   443043955   443051339   443058664   443066105   443073432   443080734   443088059   443095369   443102710   443109988   443117213   443124441   443131685   443138896   443146147
424160497   424967974   442329306   443028626   443036660   443043963   443051347   443058672   443066113   443073440   443080742   443088067   443095377   443102728   443109996   443117221   443124458   443131693   443138904   443146154
424162279   424968014   442329330   443028659   443036678   443043971   443051354   443058680   443066121   443073457   443080759   443088075   443095385   443102736   443110002   443117239   443124466   443131701   443138912   443146162
424164770   424968113   442329728   443028667   443036686   443043989   443051362   443058698   443066139   443073465   443080767   443088083   443095393   443102744   443110010   443117247   443124474   443131719   443138920   443146170
424168565   424968840   442330114   443028675   443036694   443043997   443051370   443058706   443066147   443073473   443080775   443088091   443095401   443102769   443110028   443117254   443124482   443131727   443138938   443146188
424171775   424970556   442332417   443028709   443036702   443044003   443051388   443058714   443066154   443073481   443080783   443088109   443095419   443102777   443110036   443117262   443124490   443131735   443138946   443146196
424174209   424971877   442333894   443028725   443036710   443044011   443051396   443058722   443066162   443073499   443080791   443088117   443095427   443102785   443110044   443117270   443124508   443131743   443138953   443146204
424177715   424971885   442335709   443028733   443036728   443044029   443051404   443058748   443066170   443073507   443080809   443088125   443095435   443102793   443110051   443117288   443124516   443131750   443138961   443146212
424179596   424972099   442336921   443028741   443036736   443044037   443051412   443058755   443066188   443073515   443080817   443088133   443095443   443102801   443110069   443117296   443124524   443131768   443138979   443146220
424180271   424974087   442336962   443028766   443036744   443044045   443051420   443058763   443066196   443073523   443080825   443088141   443095450   443102819   443110077   443117304   443124532   443131776   443138987   443146238
424180958   424975449   442337887   443028774   443036751   443044052   443051446   443058771   443066204   443073531   443080833   443088158   443095468   443102827   443110085   443117312   443124540   443131784   443138995   443146246
424182491   424975480   442338281   443028782   443036769   443044060   443051453   443058789   443066212   443073549   443080841   443088166   443095476   443102835   443110093   443117320   443124557   443131792   443139001   443146253
424183002   424975845   442339842   443028808   443036777   443044078   443051461   443058797   443066220   443073556   443080858   443088174   443095484   443102843   443110101   443117338   443124565   443131800   443139019   443146261
424184893   424976959   442340410   443028816   443036785   443044086   443051479   443058805   443066238   443073564   443080866   443088182   443095492   443102868   443110119   443117346   443124573   443131818   443139027   443146279
424185429   424977916   442340535   443028824   443036793   443044094   443051487   443058813   443066246   443073572   443080874   443088190   443095500   443102876   443110127   443117353   443124581   443131826   443139035   443146287
424185916   424979086   442340642   443028832   443036801   443044102   443051495   443058821   443066253   443073580   443080882   443088208   443095518   443102884   443110135   443117361   443124599   443131834   443139043   443146295
424187995   424979128   442341178   443028865   443036819   443044110   443051503   443058839   443066261   443073598   443080890   443088216   443095526   443102892   443110143   443117379   443124607   443131842   443139050   443146303
424190254   424980233   442346433   443028873   443036827   443044128   443051511   443058847   443066279   443073606   443080908   443088224   443095534   443102900   443110150   443117387   443124615   443131859   443139068   443146329
424191435   424980530   442347365   443028881   443036835   443044136   443051529   443058854   443066287   443073614   443080916   443088232   443095542   443102918   443110168   443117403   443124623   443131867   443139076   443146337
424191591   424980795   442349395   443028899   443036843   443044144   443051537   443058870   443066295   443073622   443080924   443088257   443095559   443102926   443110176   443117411   443124631   443131875   443139084   443146345
424191757   424982197   442350575   443028915   443036850   443044151   443051545   443058888   443066303   443073630   443080932   443088265   443095567   443102934   443110184   443117429   443124649   443131883   443139092   443146352
424192821   424982866   442351771   443028923   443036868   443044169   443051552   443058896   443066311   443073648   443080940   443088273   443095575   443102942   443110192   443117437   443124656   443131891   443139100   443146360
424194009   424982890   442352456   443028931   443036876   443044177   443051560   443058904   443066329   443073655   443080957   443088281   443095583   443102959   443110200   443117445   443124664   443131909   443139118   443146378
424194215   424984706   442354999   443028964   443036884   443044185   443051578   443058912   443066337   443073671   443080965   443088299   443095591   443102967   443110218   443117452   443124672   443131917   443139126   443146386
424194579   424986867   442357026   443028972   443036892   443044193   443051586   443058920   443066345   443073689   443080973   443088307   443095609   443102975   443110226   443117460   443124680   443131925   443139134   443146394
424194900   424987519   442358875   443028980   443036900   443044201   443051594   443058938   443066352   443073697   443080981   443088315   443095617   443102983   443110234   443117478   443124698   443131933   443139142   443146402
424196251   424987618   442360103   443028998   443036918   443044219   443051602   443058946   443066360   443073705   443080999   443088323   443095625   443102991   443110242   443117486   443124706   443131941   443139159   443146410
424197176   424987907   442360707   443029004   443036926   443044227   443051610   443058953   443066378   443073713   443081005   443088331   443095633   443103007   443110259   443117494   443124714   443131958   443139167   443146428
424198422   424988004   442361804   443029012   443036934   443044235   443051628   443058961   443066386   443073721   443081013   443088349   443095641   443103015   443110267   443117502   443124722   443131966   443139175   443146436
424199818   424988574   442361812   443029038   443036942   443044243   443051636   443058979   443066394   443073739   443081021   443088356   443095658   443103023   443110275   443117510   443124730   443131974   443139183   443146444
424200129   424988582   442362232   443029046   443036959   443044268   443051644   443058987   443066402   443073747   443081039   443088364   443095666   443103031   443110283   443117528   443124748   443131982   443139191   443146451
424200889   424989606   442363156   443029061   443036967   443044276   443051651   443058995   443066410   443073754   443081047   443088372   443095674   443103049   443110291   443117536   443124755   443131990   443139209   443146469
424202174   424990273   442367082   443029079   443036975   443044284   443051669   443059001   443066428   443073762   443081054   443088380   443095682   443103056   443110309   443117544   443124763   443132006   443139217   443146477
424203289   424990687   442368346   443029087   443036983   443044292   443051677   443059019   443066436   443073770   443081062   443088398   443095690   443103064   443110317   443117551   443124771   443132014   443139225   443146485
424207181   424990992   442371548   443029095   443036991   443044300   443051685   443059027   443066444   443073788   443081070   443088406   443095708   443103072   443110325   443117569   443124789   443132022   443139233   443146493
424208577   424991008   442372314   443029103   443037007   443044318   443051693   443059035   443066451   443073796   443081088   443088414   443095716   443103080   443110333   443117577   443124797   443132030   443139241   443146501
424209674   424991610   442374856   443029111   443037015   443044334   443051701   443059043   443066469   443073804   443081096   443088422   443095724   443103098   443110341   443117585   443124805   443132048   443139258   443146519
424210003   424993103   442375127   443029137   443037023   443044342   443051719   443059050   443066477   443073812   443081104   443088430   443095732   443103106   443110358   443117593   443124813   443132055   443139266   443146527
424211530   424993764   442378659   443029145   443037031   443044359   443051727   443059068   443066485   443073820   443081112   443088448   443095740   443103114   443110366   443117601   443124821   443132063   443139274   443146535
424214161   424993954   442381075   443029152   443037049   443044367   443051735   443059076   443066493   443073838   443081120   443088455   443095757   443103122   443110374   443117619   443124839   443132071   443139282   443146543
424214179   424994465   442381356   443029160   443037056   443044375   443051743   443059084   443066501   443073846   443081138   443088463   443095765   443103130   443110382   443117627   443124847   443132089   443139290   443146550
424214740   424994713   442382370   443029178   443037064   443044383   443051768   443059092   443066519   443073853   443081146   443088471   443095773   443103148   443110390   443117635   443124854   443132097   443139308   443146568
424216174   424996395   442383089   443029194   443037072   443044391   443051776   443059100   443066527   443073861   443081153   443088489   443095781   443103155   443110408   443117643   443124862   443132105   443139316   443146576
424219491   425000072   442383147   443029202   443037080   443044409   443051784   443059118   443066535   443073879   443081161   443088497   443095799   443103171   443110416   443117650   443124870   443132113   443139324   443146584
424219814   425002425   442384673   443029228   443037098   443044417   443051792   443059126   443066543   443073887   443081179   443088505   443095807   443103189   443110424   443117668   443124888   443132121   443139332   443146592
424221265   425003050   442385373   443029236   443037106   443044425   443051800   443059134   443066550   443073895   443081187   443088513   443095815   443103197   443110432   443117676   443124896   443132139   443139340   443146600
424222313   425003837   442389672   443029244   443037114   443044433   443051818   443059142   443066568   443073903   443081195   443088521   443095823   443103205   443110440   443117684   443124904   443132147   443139357   443146618
424224210   425003944   442390464   443029269   443037122   443044441   443051826   443059159   443066576   443073911   443081203   443088539   443095831   443103213   443110457   443117692   443124912   443132154   443139365   443146626
424225878   425005295   442393625   443029343   443037130   443044458   443051834   443059167   443066584   443073929   443081229   443088547   443095849   443103221   443110465   443117700   443124920   443132162   443139373   443146634
424229326   425005865   442395000   443029376   443037148   443044466   443051842   443059175   443066592   443073937   443081237   443088554   443095856   443103239   443110473   443117718   443124938   443132170   443139381   443146642
424231983   425005931   442400412   443029384   443037155   443044474   443051859   443059183   443066600   443073945   443081245   443088562   443095864   443103254   443110481   443117726   443124946   443132188   443139399   443146659
424235927   425007366   442402632   443029392   443037163   443044482   443051867   443059191   443066618   443073952   443081252   443088570   443095872   443103262   443110499   443117734   443124953   443132196   443139407   443146667
424237527   425007820   442406526   443029442   443037171   443044490   443051875   443059209   443066626   443073960   443081260   443088588   443095880   443103270   443110507   443117742   443124961   443132204   443139415   443146675
424239697   425009545   442407961   443029459   443037189   443044508   443051883   443059217   443066634   443073978   443081278   443088596   443095898   443103288   443110515   443117759   443124979   443132212   443139423   443146683
424239788   425012002   442413423   443029467   443037197   443044516   443051891   443059225   443066642   443073986   443081286   443088604   443095906   443103296   443110523   443117767   443124987   443132220   443139431   443146691
424243715   425012309   442414678   443029483   443037205   443044524   443051909   443059233   443066659   443073994   443081294   443088612   443095914   443103304   443110531   443117775   443124995   443132238   443139449   443146709
424244531   425012473   442415618   443029491   443037213   443044532   443051917   443059241   443066667   443074000   443081302   443088620   443095922   443103312   443110549   443117783   443125000   443132246   443139456   443146717

2010-A Final Cut Legal Schedule of Receivables

 

Sch-A-3


UCC-12010-A 3-31-10

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424245033   425012697   442416301   443029509   443037221   443044540   443051925   443059258   443066675   443074018   443081310   443088638   443095930   443103320   443110556   443117791   443125018   443132253   443139464   443146725
424245355   425012796   442417762   443029533   443037239   443044557   443051933   443059266   443066683   443074026   443081328   443088646   443095948   443103338   443110564   443117809   443125026   443132261   443139472   443146733
424246494   425013182   442417820   443029541   443037247   443044565   443051941   443059274   443066691   443074034   443081336   443088653   443095955   443103346   443110572   443117817   443125034   443132279   443139480   443146741
424247096   425013711   442419255   443029558   443037254   443044573   443051958   443059282   443066709   443074042   443081344   443088661   443095963   443103353   443110580   443117825   443125042   443132287   443139498   443146758
424249175   425015252   442421111   443029566   443037262   443044581   443051966   443059290   443066717   443074059   443081351   443088679   443095971   443103361   443110598   443117833   443125059   443132295   443139506   443146766
424250280   425015435   442421467   443029574   443037270   443044599   443051974   443059308   443066725   443074067   443081369   443088687   443095989   443103379   443110606   443117841   443125075   443132303   443139514   443146774
424250967   425015948   442421723   443029582   443037288   443044607   443051982   443059316   443066733   443074075   443081377   443088695   443095997   443103387   443110614   443117858   443125083   443132311   443139522   443146782
424251494   425016086   442421855   443029590   443037296   443044615   443051990   443059324   443066741   443074083   443081385   443088703   443096003   443103395   443110622   443117866   443125091   443132329   443139530   443146790
424251700   425017118   442421988   443029608   443037304   443044623   443052006   443059340   443066758   443074091   443081393   443088711   443096011   443103403   443110630   443117874   443125109   443132337   443139548   443146808
424252948   425018587   442422432   443029616   443037312   443044631   443052014   443059357   443066766   443074109   443081401   443088737   443096029   443103411   443110648   443117882   443125117   443132345   443139555   443146816
424255099   425018751   442422879   443029632   443037320   443044649   443052022   443059365   443066774   443074117   443081419   443088752   443096037   443103429   443110655   443117890   443125125   443132352   443139563   443146824
424255628   425022381   442423794   443029640   443037338   443044656   443052048   443059373   443066790   443074125   443081427   443088760   443096045   443103437   443110663   443117908   443125133   443132360   443139571   443146832
424257863   425023017   442429890   443029657   443037346   443044664   443052055   443059399   443066808   443074133   443081435   443088778   443096052   443103445   443110671   443117916   443125141   443132378   443139589   443146840
424258309   425024429   442430468   443029665   443037353   443044672   443052063   443059407   443066816   443074141   443081443   443088786   443096060   443103452   443110689   443117924   443125158   443132386   443139597   443146857
424262079   425025814   442431961   443029673   443037361   443044680   443052071   443059415   443066824   443074158   443081450   443088794   443096078   443103460   443110697   443117932   443125166   443132394   443139605   443146865
424262319   425026739   442432118   443029681   443037379   443044698   443052089   443059423   443066832   443074166   443081468   443088802   443096086   443103478   443110705   443117940   443125182   443132402   443139613   443146873
424264299   425027240   442433322   443029699   443037387   443044706   443052097   443059431   443066840   443074174   443081476   443088810   443096094   443103486   443110713   443117957   443125190   443132410   443139621   443146881
424265999   425030475   442435343   443029707   443037395   443044714   443052105   443059449   443066857   443074182   443081484   443088828   443096102   443103494   443110721   443117965   443125208   443132428   443139639   443146899
424266542   425030624   442435459   443029715   443037403   443044722   443052113   443059456   443066865   443074190   443081492   443088836   443096110   443103502   443110739   443117973   443125216   443132436   443139647   443146907
424266625   425030905   442438339   443029723   443037411   443044730   443052121   443059464   443066873   443074208   443081500   443088844   443096128   443103510   443110747   443117981   443125224   443132451   443139654   443146915
424266815   425030970   442438982   443029764   443037429   443044748   443052139   443059472   443066881   443074216   443081518   443088851   443096136   443103528   443110754   443117999   443125232   443132469   443139662   443146923
424266930   425031887   442439030   443029798   443037437   443044755   443052147   443059480   443066899   443074224   443081526   443088869   443096144   443103536   443110762   443118005   443125240   443132477   443139670   443146931
424269603   425035862   442441135   443029806   443037445   443044771   443052154   443059498   443066907   443074232   443081534   443088877   443096151   443103544   443110770   443118013   443125257   443132485   443139688   443146949
424270569   425035888   442442208   443029814   443037452   443044789   443052162   443059506   443066915   443074240   443081542   443088885   443096169   443103551   443110788   443118021   443125265   443132493   443139696   443146956
424273118   425036092   442443685   443029822   443037460   443044797   443052170   443059514   443066923   443074257   443081559   443088893   443096177   443103569   443110796   443118039   443125273   443132501   443139704   443146964
424276814   425038023   442445318   443029830   443037478   443044805   443052188   443059522   443066931   443074265   443081567   443088901   443096185   443103577   443110804   443118047   443125281   443132519   443139712   443146972
424278786   425038973   442445870   443029848   443037486   443044813   443052196   443059530   443066949   443074273   443081575   443088919   443096193   443103585   443110812   443118054   443125299   443132527   443139720   443146980
424279701   425039864   442449369   443029855   443037494   443044821   443052204   443059548   443066956   443074281   443081583   443088927   443096201   443103593   443110820   443118062   443125307   443132535   443139738   443146998
424281566   425040003   442449401   443029863   443037502   443044839   443052212   443059555   443066964   443074299   443081591   443088935   443096219   443103601   443110838   443118070   443125315   443132543   443139746   443147004
424281756   425040516   442450300   443029871   443037510   443044847   443052220   443059563   443066972   443074307   443081609   443088943   443096227   443103619   443110846   443118088   443125323   443132550   443139753   443147012
424281830   425041217   442456240   443029889   443037536   443044854   443052238   443059571   443066980   443074315   443081617   443088950   443096235   443103627   443110853   443118096   443125331   443132568   443139761   443147020
424282549   425041514   442461356   443029897   443037544   443044862   443052246   443059589   443066998   443074323   443081625   443088968   443096243   443103635   443110861   443118104   443125349   443132576   443139779   443147038
424282622   425041654   442463121   443029905   443037551   443044870   443052253   443059597   443067004   443074331   443081633   443088976   443096250   443103643   443110879   443118112   443125356   443132584   443139787   443147046
424283232   425044005   442464665   443029913   443037569   443044888   443052261   443059605   443067012   443074349   443081641   443088984   443096268   443103650   443110887   443118120   443125364   443132592   443139795   443147053
424283687   425048683   442465969   443029939   443037577   443044896   443052279   443059613   443067020   443074356   443081658   443088992   443096276   443103668   443110895   443118138   443125372   443132600   443139803   443147061
424283752   425049145   442466801   443029962   443037585   443044904   443052287   443059621   443067038   443074364   443081666   443089008   443096284   443103676   443110903   443118146   443125380   443132618   443139811   443147079
424287522   425050465   442472841   443029996   443037593   443044912   443052295   443059639   443067046   443074372   443081674   443089016   443096292   443103684   443110911   443118153   443125398   443132626   443139829   443147087
424287589   425050770   442475539   443030010   443037601   443044920   443052303   443059647   443067053   443074380   443081682   443089024   443096300   443103692   443110929   443118161   443125406   443132634   443139837   443147095
424291151   425051067   442476610   443030028   443037619   443044938   443052311   443059654   443067061   443074398   443081690   443089032   443096318   443103700   443110937   443118179   443125414   443132642   443139845   443147103
424292654   425051109   442480646   443030044   443037627   443044946   443052329   443059662   443067079   443074406   443081708   443089040   443096326   443103718   443110945   443118187   443125422   443132659   443139852   443147111
424293611   425053584   442482014   443030051   443037635   443044953   443052337   443059670   443067087   443074414   443081716   443089057   443096334   443103726   443110952   443118195   443125430   443132667   443139860   443147129
424298024   425054202   442482485   443030069   443037643   443044961   443052345   443059688   443067103   443074422   443081724   443089065   443096342   443103734   443110960   443118203   443125448   443132675   443139878   443147137
424298701   425054210   442483962   443030085   443037650   443044979   443052352   443059696   443067129   443074430   443081732   443089073   443096359   443103742   443110978   443118211   443125455   443132683   443139886   443147145
424300796   425055282   442485173   443030093   443037668   443044987   443052360   443059704   443067137   443074448   443081740   443089081   443096367   443103759   443110986   443118229   443125463   443132691   443139894   443147152
424304244   425057015   442485264   443030101   443037676   443044995   443052378   443059712   443067145   443074455   443081757   443089099   443096375   443103767   443110994   443118237   443125471   443132709   443139902   443147160
424305647   425057510   442488946   443030119   443037684   443045000   443052386   443059720   443067152   443074463   443081765   443089107   443096383   443103775   443111000   443118245   443125489   443132717   443139910   443147178
424305936   425058526   442489555   443030127   443037692   443045018   443052394   443059738   443067160   443074471   443081773   443089115   443096391   443103783   443111018   443118252   443125497   443132725   443139928   443147186
424307775   425058617   442494373   443030143   443037718   443045026   443052402   443059746   443067178   443074489   443081781   443089123   443096409   443103791   443111026   443118260   443125505   443132733   443139936   443147194
424310100   425059821   442495818   443030150   443037726   443045034   443052410   443059753   443067186   443074497   443081799   443089131   443096425   443103809   443111034   443118278   443125513   443132741   443139944   443147202
424310290   425059920   442498986   443030192   443037734   443045042   443052428   443059761   443067194   443074505   443081807   443089149   443096433   443103817   443111042   443118286   443125521   443132758   443139951   443147210
424311769   425060399   442499455   443030200   443037742   443045059   443052436   443059779   443067202   443074513   443081815   443089156   443096441   443103825   443111059   443118294   443125539   443132766   443139969   443147228
424311850   425060423   442500526   443030218   443037759   443045067   443052444   443059787   443067210   443074521   443081823   443089164   443096458   443103833   443111067   443118302   443125547   443132774   443139977   443147236
424312759   425060480   442501003   443030226   443037775   443045075   443052451   443059795   443067228   443074539   443081831   443089172   443096466   443103841   443111075   443118310   443125554   443132782   443139985   443147244
424316669   425060704   442501656   443030234   443037783   443045083   443052469   443059803   443067236   443074547   443081849   443089180   443096474   443103858   443111083   443118328   443125562   443132790   443139993   443147251
424318095   425060852   442506242   443030259   443037791   443045091   443052477   443059811   443067244   443074554   443081856   443089198   443096482   443103866   443111091   443118336   443125570   443132808   443140009   443147269
424319218   425062874   442507604   443030267   443037809   443045109   443052485   443059829   443067251   443074562   443081864   443089206   443096490   443103874   443111109   443118344   443125588   443132816   443140017   443147277
424320232   425063245   442513016   443030275   443037817   443045117   443052493   443059837   443067269   443074570   443081872   443089214   443096508   443103908   443111117   443118351   443125596   443132824   443140025   443147285
424321032   425063815   442513743   443030291   443037825   443045125   443052501   443059845   443067277   443074588   443081880   443089222   443096516   443103916   443111125   443118369   443125604   443132832   443140033   443147293
424321610   425064243   442515094   443030309   443037833   443045133   443052519   443059852   443067285   443074596   443081898   443089230   443096524   443103924   443111133   443118377   443125612   443132840   443140041   443147301
424323566   425064482   442527198   443030333   443037841   443045158   443052527   443059860   443067293   443074604   443081906   443089248   443096532   443103932   443111141   443118385   443125620   443132857   443140058   443147319
424324150   425066099   442528121   443030341   443037858   443045166   443052535   443059878   443067301   443074612   443081914   443089255   443096540   443103940   443111158   443118393   443125638   443132865   443140066   443147327
424324275   425066511   442531414   443030358   443037866   443045174   443052543   443059886   443067319   443074620   443081922   443089263   443096557   443103957   443111166   443118401   443125653   443132873   443140074   443147335
424325306   425066974   442531836   443030374   443037874   443045182   443052550   443059894   443067327   443074638   443081930   443089271   443096565   443103965   443111174   443118419   443125661   443132881   443140082   443147343
424326254   425068491   442534384   443030390   443037882   443045190   443052568   443059902   443067335   443074646   443081948   443089289   443096573   443103973   443111182   443118427   443125679   443132899   443140090   443147350
424326684   425068541   442534665   443030408   443037890   443045208   443052576   443059910   443067343   443074653   443081955   443089297   443096581   443103981   443111190   443118435   443125687   443132907   443140108   443147368
424329555   425068855   442535605   443030416   443037908   443045216   443052584   443059928   443067350   443074661   443081963   443089305   443096599   443103999   443111208   443118443   443125695   443132915   443140116   443147376
424330835   425069622   442539920   443030424   443037916   443045224   443052592   443059936   443067368   443074679   443081971   443089313   443096607   443104005   443111216   443118450   443125703   443132923   443140124   443147384
424330884   425070091   442540282   443030432   443037924   443045232   443052600   443059944   443067384   443074687   443081989   443089321   443096615   443104013   443111224   443118468   443125711   443132931   443140132   443147392
424331361   425070174   442540290   443030440   443037932   443045240   443052618   443059951   443067392   443074695   443081997   443089339   443096623   443104021   443111232   443118476   443125729   443132949   443140140   443147400
424331510   425072766   442541058   443030457   443037940   443045257   443052626   443059977   443067400   443074703   443082003   443089347   443096631   443104039   443111240   443118484   443125737   443132956   443140157   443147418
424333326   425073079   442546701   443030465   443037957   443045265   443052634   443059985   443067418   443074711   443082011   443089354   443096649   443104047   443111257   443118492   443125745   443132964   443140165   443147426
424334043   425073202   442547188   443030473   443037965   443045273   443052642   443059993   443067426   443074729   443082029   443089362   443096656   443104054   443111265   443118500   443125752   443132972   443140173   443147434
424334381   425073400   442548665   443030481   443037973   443045281   443052659   443060009   443067434   443074737   443082037   443089370   443096664   443104062   443111273   443118518   443125760   443132980   443140181   443147442

2010-A Final Cut Legal Schedule of Receivables

 

Sch-A-4


UCC-12010-A 3-31-10

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424335008   425073475   442551164   443030499   443037999   443045299   443052667   443060025   443067442   443074745   443082045   443089388   443096672   443104070   443111281   443118526   443125778   443132998   443140199   443147459
424335057   425074374   442556569   443030507   443038005   443045307   443052675   443060033   443067459   443074752   443082052   443089396   443096680   443104088   443111299   443118534   443125786   443133004   443140207   443147467
424336303   425075652   442556999   443030523   443038013   443045315   443052683   443060041   443067467   443074760   443082060   443089404   443096698   443104096   443111307   443118542   443125794   443133012   443140215   443147475
424336386   425076502   442569067   443030531   443038021   443045323   443052691   443060058   443067475   443074778   443082078   443089412   443096706   443104104   443111315   443118559   443125802   443133020   443140223   443147483
424337723   425077088   442574075   443030549   443038039   443045331   443052709   443060066   443067483   443074786   443082086   443089420   443096714   443104112   443111331   443118567   443125810   443133038   443140231   443147491
424338044   425078078   442580742   443030556   443038047   443045349   443052717   443060074   443067491   443074794   443082094   443089438   443096722   443104120   443111349   443118575   443125828   443133046   443140249   443147509
424338382   425079225   442582094   443030564   443038054   443045356   443052725   443060082   443067509   443074802   443082102   443089446   443096730   443104138   443111356   443118583   443125836   443133053   443140256   443147517
424340131   425079290   442585675   443030572   443038062   443045364   443052733   443060090   443067517   443074810   443082110   443089453   443096748   443104146   443111364   443118591   443125844   443133061   443140264   443147525
424341618   425080355   442586210   443030580   443038070   443045372   443052741   443060108   443067525   443074828   443082128   443089461   443096755   443104153   443111372   443118609   443125851   443133079   443140272   443147541
424341998   425081197   442588448   443030598   443038088   443045380   443052758   443060116   443067533   443074836   443082136   443089479   443096763   443104161   443111380   443118617   443125869   443133087   443140280   443147558
424342202   425082195   442589529   443030606   443038096   443045398   443052766   443060124   443067541   443074844   443082144   443089487   443096771   443104179   443111398   443118625   443125877   443133095   443140298   443147566
424342566   425086287   442589925   443030614   443038104   443045406   443052774   443060132   443067558   443074851   443082151   443089495   443096789   443104187   443111406   443118633   443125885   443133103   443140306   443147574
424343127   425086949   442591871   443030622   443038112   443045414   443052782   443060157   443067566   443074869   443082169   443089503   443096797   443104195   443111414   443118641   443125893   443133111   443140314   443147582
424344265   425087699   442598827   443030630   443038120   443045422   443052790   443060165   443067574   443074877   443082177   443089511   443096805   443104203   443111422   443118666   443125901   443133129   443140322   443147590
424344844   425087830   442599098   443030648   443038138   443045430   443052808   443060173   443067582   443074885   443082185   443089529   443096813   443104211   443111430   443118674   443125919   443133137   443140330   443147608
424346138   425088242   442599171   443030655   443038146   443045448   443052816   443060181   443067590   443074893   443082193   443089537   443096821   443104229   443111448   443118682   443125927   443133145   443140348   443147616
424346328   425088259   442599569   443030663   443038153   443045455   443052824   443060199   443067608   443074901   443082201   443089545   443096839   443104237   443111455   443118690   443125935   443133152   443140355   443147624
424346583   425088416   442602124   443030713   443038161   443045463   443052832   443060207   443067616   443074919   443082219   443089552   443096847   443104245   443111463   443118708   443125943   443133160   443140363   443147632
424346740   425089240   442602652   443030721   443038179   443045471   443052840   443060215   443067624   443074927   443082227   443089560   443096854   443104252   443111471   443118716   443125950   443133178   443140371   443147640
424349736   425089323   442607768   443030739   443038187   443045489   443052857   443060223   443067632   443074935   443082235   443089578   443096862   443104260   443111489   443118724   443125968   443133186   443140389   443147657
424350767   425090552   442610747   443030747   443038195   443045497   443052865   443060231   443067640   443074943   443082243   443089586   443096870   443104278   443111497   443118732   443125976   443133194   443140397   443147665
424352565   425091212   442613816   443030762   443038203   443045505   443052873   443060249   443067657   443074950   443082250   443089594   443096888   443104286   443111505   443118740   443125984   443133202   443140405   443147673
424352623   425091634   442617635   443030770   443038211   443045513   443052881   443060256   443067665   443074968   443082268   443089602   443096896   443104294   443111513   443118757   443125992   443133210   443140413   443147681
424353480   425091980   442619888   443030788   443038229   443045521   443052899   443060264   443067673   443074976   443082276   443089610   443096904   443104302   443111521   443118765   443126008   443133228   443140421   443147707
424353589   425093283   442622247   443030796   443038237   443045539   443052907   443060272   443067681   443074984   443082284   443089628   443096912   443104328   443111539   443118773   443126016   443133236   443140439   443147715
424356418   425093465   442624086   443030804   443038245   443045547   443052915   443060280   443067699   443074992   443082292   443089636   443096920   443104336   443111547   443118781   443126024   443133244   443140447   443147723
424356483   425093580   442624631   443030838   443038252   443045554   443052923   443060298   443067707   443075007   443082300   443089644   443096938   443104344   443111554   443118807   443126032   443133251   443140454   443147731
424357432   425094562   442625455   443030853   443038260   443045562   443052931   443060306   443067715   443075015   443082318   443089651   443096946   443104351   443111562   443118815   443126040   443133269   443140462   443147749
424358117   425097102   442628053   443030879   443038278   443045570   443052949   443060314   443067723   443075023   443082326   443089669   443096953   443104369   443111570   443118823   443126057   443133277   443140470   443147756
424359354   425097458   442629903   443030887   443038286   443045588   443052956   443060322   443067731   443075031   443082334   443089677   443096961   443104377   443111588   443118831   443126065   443133285   443140488   443147764
424360188   425098142   442630968   443030903   443038294   443045596   443052964   443060330   443067749   443075049   443082342   443089685   443096979   443104385   443111596   443118849   443126073   443133293   443140496   443147772
424370336   425101003   442632527   443030911   443038302   443045604   443052972   443060355   443067756   443075056   443082359   443089693   443096987   443104393   443111604   443118856   443126081   443133301   443140504   443147780
424370781   425101698   442633830   443030937   443038310   443045612   443052980   443060363   443067764   443075064   443082367   443089701   443096995   443104401   443111612   443118864   443126099   443133319   443140512   443147798
424372506   425101862   442635843   443030945   443038328   443045620   443052998   443060389   443067772   443075072   443082375   443089719   443097001   443104419   443111620   443118872   443126107   443133327   443140520   443147806
424372886   425102605   442636437   443030978   443038336   443045638   443053004   443060397   443067780   443075080   443082383   443089727   443097019   443104427   443111638   443118880   443126115   443133335   443140538   443147814
424375251   425103710   442639670   443030986   443038344   443045653   443053012   443060405   443067798   443075098   443082391   443089735   443097027   443104435   443111646   443118898   443126123   443133343   443140546   443147822
424379600   425104064   442643235   443030994   443038351   443045661   443053020   443060413   443067806   443075106   443082409   443089750   443097035   443104443   443111653   443118906   443126131   443133350   443140553   443147830
424384063   425104569   442643391   443031018   443038369   443045679   443053038   443060421   443067814   443075114   443082417   443089768   443097043   443104450   443111661   443118914   443126149   443133368   443140561   443147848
424388668   425106788   442644563   443031042   443038377   443045687   443053046   443060439   443067822   443075122   443082425   443089776   443097050   443104468   443111679   443118922   443126156   443133376   443140579   443147863
424390300   425107166   442645123   443031067   443038385   443045695   443053053   443060447   443067830   443075130   443082433   443089784   443097076   443104476   443111687   443118930   443126164   443133384   443140587   443147871
424391100   425107893   442648283   443031075   443038393   443045703   443053061   443060454   443067848   443075148   443082441   443089792   443097084   443104484   443111695   443118948   443126172   443133392   443140595   443147889
424391498   425110152   442648671   443031083   443038401   443045711   443053079   443060470   443067855   443075155   443082458   443089800   443097092   443104492   443111703   443118955   443126180   443133400   443140603   443147897
424392595   425110830   442649836   443031117   443038419   443045729   443053087   443060504   443067863   443075163   443082466   443089818   443097100   443104500   443111711   443118963   443126198   443133418   443140611   443147905
424393064   425110996   442651931   443031133   443038427   443045737   443053095   443060512   443067871   443075171   443082474   443089826   443097118   443104518   443111729   443118971   443126206   443133426   443140629   443147913
424393635   425111754   442652665   443031141   443038435   443045745   443053103   443060520   443067897   443075189   443082482   443089834   443097126   443104526   443111737   443118989   443126214   443133434   443140637   443147921
424394245   425112703   442653739   443031158   443038443   443045752   443053111   443060538   443067905   443075197   443082490   443089842   443097134   443104534   443111752   443118997   443126222   443133442   443140645   443147939
424396737   425114766   442655841   443031166   443038450   443045760   443053129   443060546   443067913   443075205   443082508   443089859   443097159   443104542   443111760   443119003   443126230   443133459   443140652   443147947
424398139   425115995   442656146   443031174   443038468   443045778   443053137   443060553   443067921   443075213   443082516   443089867   443097167   443104559   443111778   443119011   443126248   443133467   443140660   443147954
424398675   425116555   442656336   443031182   443038476   443045786   443053145   443060561   443067939   443075221   443082532   443089875   443097175   443104567   443111786   443119029   443126255   443133475   443140678   443147962
424399111   425117520   442659900   443031190   443038484   443045794   443053152   443060579   443067947   443075239   443082540   443089883   443097191   443104575   443111794   443119037   443126263   443133483   443140686   443147970
424400448   425118254   442660726   443031208   443038492   443045802   443053160   443060587   443067954   443075247   443082557   443089891   443097209   443104583   443111802   443119045   443126271   443133491   443140694   443147988
424400729   425118676   442662839   443031216   443038500   443045810   443053178   443060595   443067962   443075262   443082565   443089909   443097217   443104591   443111810   443119052   443126289   443133509   443140702   443147996
424401297   425120144   442663209   443031224   443038518   443045828   443053186   443060603   443067970   443075270   443082573   443089917   443097225   443104609   443111828   443119060   443126297   443133517   443140710   443148002
424401917   425120649   442663340   443031232   443038526   443045836   443053194   443060611   443067988   443075288   443082581   443089925   443097233   443104617   443111836   443119078   443126305   443133525   443140728   443148010
424402360   425120805   442663480   443031240   443038534   443045844   443053202   443060629   443067996   443075296   443082599   443089933   443097241   443104625   443111844   443119086   443126313   443133533   443140736   443148028
424404416   425121142   442663852   443031257   443038542   443045851   443053210   443060637   443068002   443075304   443082607   443089941   443097258   443104633   443111851   443119094   443126339   443133541   443140744   443148036
424404929   425121860   442664298   443031265   443038559   443045869   443053228   443060645   443068010   443075312   443082615   443089958   443097266   443104641   443111869   443119102   443126347   443133558   443140751   443148044
424405223   425122314   442664330   443031273   443038567   443045877   443053236   443060652   443068028   443075320   443082623   443089966   443097274   443104658   443111877   443119110   443126354   443133566   443140769   443148051
424405967   425124518   442664777   443031281   443038575   443045885   443053244   443060660   443068036   443075338   443082631   443089974   443097282   443104666   443111885   443119128   443126362   443133574   443140777   443148069
424408037   425125028   442665204   443031299   443038583   443045893   443053251   443060678   443068044   443075346   443082649   443089982   443097290   443104674   443111893   443119136   443126370   443133582   443140785   443148077
424408771   425125911   442665477   443031307   443038591   443045901   443053269   443060686   443068051   443075353   443082656   443089990   443097308   443104682   443111901   443119144   443126388   443133590   443140793   443148085
424411593   425126091   442666319   443031315   443038609   443045919   443053277   443060694   443068069   443075361   443082664   443090006   443097316   443104690   443111919   443119151   443126396   443133608   443140801   443148093
424417897   425126836   442666335   443031323   443038617   443045927   443053285   443060702   443068085   443075379   443082672   443090014   443097324   443104708   443111927   443119169   443126404   443133616   443140819   443148101
424422087   425127958   442666483   443031331   443038625   443045935   443053293   443060710   443068093   443075387   443082680   443090022   443097332   443104716   443111935   443119177   443126412   443133624   443140827   443148119
424422780   425128998   442666616   443031349   443038633   443045943   443053301   443060728   443068101   443075395   443082698   443090030   443097340   443104724   443111943   443119185   443126420   443133632   443140835   443148127
424423531   425129764   442666889   443031356   443038641   443045950   443053319   443060736   443068119   443075403   443082706   443090048   443097357   443104732   443111950   443119193   443126438   443133640   443140843   443148135
424424182   425130481   442667093   443031364   443038658   443045968   443053327   443060744   443068127   443075411   443082714   443090055   443097365   443104740   443111968   443119201   443126446   443133657   443140850   443148143
424427086   425131067   442667150   443031372   443038666   443045976   443053335   443060751   443068135   443075429   443082722   443090063   443097373   443104757   443111976   443119219   443126453   443133665   443140868   443148150
424427862   425131331   442668547   443031380   443038674   443045984   443053343   443060769   443068143   443075437   443082730   443090071   443097381   443104765   443111984   443119227   443126461   443133673   443140876   443148168
424428365   425131349   442669669   443031398   443038682   443045992   443053350   443060777   443068150   443075445   443082748   443090089   443097399   443104773   443111992   443119235   443126479   443133681   443140884   443148176
424429447   425132263   442669768   443031406   443038690   443046008   443053368   443060785   443068168   443075452   443082755   443090097   443097407   443104781   443112008   443119243   443126487   443133699   443140892   443148184
424429546   425132610   442670147   443031414   443038708   443046016   443053376   443060793   443068176   443075460   443082763   443090105   443097415   443104799   443112016   443119250   443126495   443133707   443140900   443148192
424429744   425132636   442670279   443031422   443038716   443046024   443053384   443060801   443068184   443075478   443082771   443090113   443097423   443104807   443112024   443119268   443126503   443133715   443140918   443148200

2010-A Final Cut Legal Schedule of Receivables

 

Sch-A-5


UCC-12010-A 3-31-10

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424429843   425133659   442670634   443031430   443038724   443046032   443053392   443060819   443068192   443075486   443082789   443090121   443097431   443104815   443112032   443119276   443126511   443133723   443140926   443148218
424429876   425133915   442671251   443031448   443038732   443046040   443053400   443060835   443068200   443075494   443082797   443090139   443097449   443104823   443112040   443119284   443126529   443133731   443140934   443148226
424432284   425135134   442671780   443031455   443038740   443046057   443053418   443060843   443068218   443075502   443082805   443090147   443097456   443104831   443112057   443119292   443126537   443133749   443140942   443148234
424434256   425135886   442672549   443031463   443038757   443046065   443053426   443060850   443068226   443075510   443082813   443090154   443097464   443104849   443112065   443119300   443126545   443133756   443140959   443148242
424436145   425137767   442673372   443031471   443038765   443046073   443053434   443060868   443068234   443075528   443082821   443090162   443097472   443104856   443112073   443119318   443126552   443133764   443140967   443148259
424439321   425137833   442673554   443031489   443038773   443046081   443053442   443060876   443068242   443075536   443082839   443090170   443097480   443104864   443112081   443119326   443126560   443133772   443140975   443148267
424441111   425138526   442674164   443031497   443038781   443046099   443053459   443060884   443068259   443075544   443082847   443090188   443097498   443104872   443112099   443119334   443126578   443133780   443140983   443148275
424441673   425138591   442674602   443031505   443038799   443046107   443053467   443060892   443068267   443075551   443082854   443090196   443097506   443104880   443112107   443119342   443126586   443133798   443140991   443148283
424442416   425140027   442675344   443031513   443038807   443046115   443053475   443060900   443068275   443075569   443082862   443090204   443097514   443104898   443112115   443119359   443126594   443133806   443141007   443148291
424445666   425140282   442675427   443031521   443038815   443046123   443053483   443060926   443068283   443075577   443082870   443090212   443097522   443104906   443112123   443119367   443126602   443133814   443141015   443148309
424447084   425140993   442675823   443031539   443038823   443046131   443053491   443060934   443068291   443075585   443082888   443090220   443097530   443104922   443112131   443119375   443126610   443133822   443141023   443148317
424450583   425141348   442676953   443031547   443038831   443046149   443053509   443060942   443068309   443075593   443082896   443090238   443097548   443104930   443112149   443119383   443126628   443133830   443141031   443148325
424451680   425141884   442677175   443031554   443038849   443046164   443053517   443060959   443068317   443075601   443082904   443090246   443097555   443104948   443112156   443119391   443126636   443133848   443141049   443148333
424455178   425142734   442677449   443031562   443038856   443046180   443053525   443060967   443068325   443075619   443082912   443090253   443097563   443104955   443112164   443119409   443126644   443133855   443141056   443148341
424455434   425143260   442677498   443031570   443038864   443046198   443053533   443060975   443068333   443075627   443082920   443090261   443097571   443104963   443112172   443119417   443126651   443133863   443141064   443148358
424456085   425145059   442677688   443031588   443038872   443046206   443053541   443060983   443068341   443075635   443082938   443090279   443097589   443104971   443112180   443119425   443126669   443133871   443141072   443148366
424456606   425146966   442677811   443031596   443038880   443046214   443053558   443060991   443068358   443075643   443082946   443090287   443097605   443104989   443112198   443119433   443126677   443133889   443141080   443148374
424456697   425148913   442678926   443031604   443038898   443046222   443053566   443061007   443068366   443075650   443082953   443090295   443097613   443104997   443112206   443119441   443126685   443133897   443141098   443148382
424456788   425149242   442679122   443031612   443038906   443046230   443053574   443061015   443068374   443075668   443082961   443090303   443097621   443105002   443112214   443119458   443126693   443133905   443141106   443148390
424457943   425149572   442679429   443031620   443038914   443046248   443053582   443061023   443068382   443075676   443082979   443090311   443097639   443105010   443112222   443119466   443126701   443133913   443141114   443148408
424460491   425152618   442679981   443031638   443038922   443046255   443053590   443061049   443068390   443075684   443082987   443090329   443097647   443105028   443112230   443119474   443126719   443133921   443141122   443148416
424460608   425157997   442680088   443031646   443038948   443046263   443053608   443061056   443068408   443075692   443082995   443090337   443097654   443105036   443112248   443119482   443126727   443133939   443141130   443148424
424462695   425158722   442680195   443031653   443038955   443046271   443053616   443061064   443068416   443075700   443083001   443090345   443097662   443105044   443112255   443119490   443126735   443133947   443141148   443148432
424463172   425158987   442680674   443031661   443038963   443046289   443053624   443061080   443068424   443075718   443083019   443090352   443097670   443105051   443112263   443119508   443126743   443133954   443141155   443148440
424464147   425160660   442680716   443031679   443038971   443046297   443053632   443061098   443068432   443075726   443083027   443090360   443097688   443105069   443112271   443119516   443126750   443133962   443141163   443148457
424464576   425162633   442681516   443031687   443038989   443046313   443053640   443061106   443068440   443075734   443083035   443090378   443097696   443105077   443112289   443119524   443126768   443133970   443141171   443148465
424466746   425163672   442681862   443031695   443038997   443046321   443053657   443061114   443068457   443075742   443083043   443090386   443097704   443105085   443112297   443119532   443126776   443133988   443141197   443148473
424467462   425163995   442681987   443031703   443039003   443046339   443053665   443061122   443068465   443075759   443083050   443090394   443097712   443105093   443112305   443119540   443126784   443133996   443141205   443148481
424467819   425164423   442682639   443031711   443039011   443046347   443053673   443061130   443068481   443075767   443083068   443090402   443097720   443105101   443112313   443119557   443126792   443134002   443141213   443148499
424469088   425164563   442682993   443031729   443039029   443046354   443053681   443061148   443068499   443075775   443083076   443090410   443097738   443105119   443112321   443119565   443126800   443134010   443141221   443148507
424470375   425166022   442683363   443031737   443039037   443046362   443053699   443061155   443068507   443075783   443083084   443090428   443097746   443105127   443112339   443119573   443126818   443134028   443141239   443148515
424470664   425166030   442683447   443031745   443039045   443046388   443053707   443061163   443068515   443075791   443083092   443090436   443097753   443105135   443112347   443119581   443126826   443134036   443141247   443148523
424473080   425166485   442683504   443031752   443039052   443046396   443053715   443061171   443068523   443075809   443083100   443090444   443097761   443105143   443112354   443119599   443126834   443134044   443141254   443148531
424473932   425168887   442683710   443031760   443039060   443046404   443053723   443061189   443068531   443075817   443083118   443090451   443097779   443105150   443112362   443119607   443126842   443134051   443141262   443148549
424474336   425171378   442683850   443031778   443039078   443046412   443053731   443061197   443068549   443075825   443083126   443090469   443097787   443105168   443112370   443119615   443126859   443134069   443141270   443148556
424475341   425171733   442684205   443031786   443039086   443046420   443053749   443061205   443068556   443075833   443083134   443090477   443097795   443105176   443112388   443119623   443126867   443134077   443141288   443148564
424475465   425172400   442684957   443031794   443039094   443046438   443053756   443061213   443068564   443075841   443083142   443090485   443097803   443105184   443112396   443119631   443126875   443134085   443141296   443148572
424475598   425173036   442686424   443031802   443039102   443046446   443053764   443061221   443068572   443075858   443083159   443090493   443097811   443105192   443112404   443119649   443126883   443134101   443141304   443148580
424482602   425173366   442686663   443031810   443039110   443046453   443053772   443061239   443068580   443075866   443083167   443090501   443097829   443105200   443112412   443119656   443126891   443134119   443141312   443148598
424482719   425173424   442687489   443031828   443039128   443046461   443053780   443061247   443068598   443075874   443083175   443090519   443097837   443105218   443112420   443119664   443126909   443134127   443141320   443148606
424483196   425173879   442688206   443031836   443039136   443046479   443053798   443061254   443068606   443075882   443083183   443090527   443097845   443105226   443112438   443119672   443126917   443134135   443141338   443148614
424483592   425174265   442688222   443031844   443039144   443046487   443053806   443061262   443068614   443075890   443083191   443090535   443097860   443105234   443112446   443119680   443126925   443134143   443141346   443148622
424485605   425174885   442688321   443031851   443039151   443046495   443053814   443061288   443068622   443075908   443083209   443090543   443097878   443105242   443112453   443119698   443126933   443134150   443141353   443148630
424487478   425175924   442688859   443031869   443039169   443046503   443053822   443061296   443068630   443075916   443083217   443090550   443097886   443105259   443112461   443119706   443126941   443134168   443141379   443148648
424489276   425176807   442689626   443031877   443039177   443046511   443053830   443061304   443068648   443075924   443083225   443090568   443097894   443105267   443112479   443119714   443126958   443134176   443141387   443148655
424491389   425176989   442689816   443031885   443039185   443046529   443053848   443061312   443068655   443075932   443083233   443090576   443097902   443105275   443112487   443119722   443126966   443134184   443141395   443148663
424492973   425177342   442690319   443031893   443039193   443046537   443053855   443061320   443068663   443075940   443083241   443090584   443097910   443105283   443112495   443119730   443126974   443134192   443141403   443148671
424493963   425177946   442690483   443031901   443039201   443046545   443053863   443061338   443068671   443075957   443083258   443090592   443097928   443105291   443112503   443119748   443126982   443134200   443141411   443148689
424495836   425182193   442690723   443031919   443039219   443046552   443053871   443061346   443068689   443075965   443083266   443090600   443097936   443105309   443112511   443119755   443126990   443134218   443141429   443148697
424495844   425183605   442691036   443031927   443039227   443046560   443053889   443061353   443068697   443075973   443083274   443090618   443097944   443105317   443112529   443119763   443127006   443134226   443141437   443148705
424496529   425183712   442691929   443031935   443039235   443046578   443053897   443061361   443068705   443075981   443083282   443090626   443097951   443105325   443112537   443119771   443127014   443134234   443141445   443148713
424497253   425184355   442692216   443031943   443039243   443046586   443053905   443061387   443068713   443075999   443083290   443090634   443097969   443105333   443112545   443119789   443127022   443134242   443141452   443148721
424497709   425186723   442692307   443031950   443039250   443046594   443053913   443061395   443068721   443076005   443083316   443090642   443097977   443105341   443112552   443119797   443127030   443134259   443141460   443148739
424498459   425188125   442692331   443031968   443039268   443046602   443053921   443061403   443068739   443076013   443083324   443090659   443097985   443105358   443112560   443119805   443127048   443134267   443141478   443148747
424499861   425188828   442693024   443031976   443039276   443046610   443053939   443061411   443068747   443076021   443083340   443090667   443097993   443105366   443112578   443119813   443127055   443134275   443141486   443148754
424504405   425189271   442693446   443031984   443039284   443046628   443053947   443061429   443068754   443076039   443083357   443090675   443098009   443105374   443112586   443119821   443127063   443134283   443141494   443148762
424504553   425189867   442694758   443031992   443039292   443046636   443053954   443061437   443068762   443076047   443083365   443090683   443098017   443105382   443112594   443119839   443127071   443134291   443141502   443148770
424505568   425190527   442694832   443032008   443039300   443046644   443053962   443061445   443068770   443076062   443083373   443090691   443098025   443105390   443112602   443119847   443127089   443134309   443141510   443148788
424507440   425193125   442695490   443032016   443039318   443046651   443053970   443061452   443068788   443076070   443083381   443090709   443098033   443105408   443112610   443119854   443127097   443134317   443141528   443148796
424507499   425193265   442695771   443032024   443039326   443046669   443053988   443061460   443068796   443076088   443083399   443090717   443098041   443105416   443112628   443119862   443127105   443134325   443141536   443148804
424509586   425193919   442695912   443032032   443039334   443046677   443053996   443061478   443068804   443076096   443083407   443090725   443098058   443105424   443112636   443119870   443127113   443134333   443141544   443148812
424510634   425194057   442696019   443032040   443039342   443046685   443054002   443061486   443068812   443076104   443083415   443090733   443098066   443105432   443112644   443119888   443127121   443134341   443141551   443148820
424510709   425194610   442697710   443032057   443039359   443046693   443054010   443061494   443068820   443076112   443083423   443090741   443098074   443105440   443112651   443119896   443127139   443134358   443141569   443148838
424511301   425194875   442698726   443032065   443039367   443046701   443054028   443061502   443068838   443076120   443083431   443090758   443098082   443105457   443112669   443119904   443127147   443134366   443141577   443148846
424512333   425195575   442698866   443032073   443039375   443046719   443054036   443061510   443068846   443076138   443083449   443090766   443098090   443105465   443112677   443119912   443127154   443134374   443141585   443148853
424512465   425196672   442699393   443032081   443039383   443046727   443054044   443061528   443068853   443076146   443083456   443090774   443098108   443105473   443112685   443119920   443127162   443134382   443141593   443148861
424513034   425199767   442699476   443032099   443039391   443046735   443054051   443061536   443068861   443076153   443083464   443090782   443098116   443105481   443112693   443119938   443127170   443134390   443141601   443148879
424516540   425200268   442702213   443032107   443039409   443046743   443054069   443061544   443068879   443076161   443083472   443090790   443098124   443105499   443112701   443119946   443127188   443134408   443141619   443148887
424518660   425208048   442702304   443032115   443039417   443046750   443054077   443061551   443068887   443076179   443083480   443090808   443098132   443105507   443112719   443119953   443127196   443134416   443141627   443148895
424519478   426055307   442702726   443032123   443039425   443046768   443054085   443061569   443068895   443076187   443083498   443090816   443098140   443105515   443112727   443119961   443127204   443134424   443141635   443148903
424521045   427337563   442702916   443032131   443039433   443046776   443054093   443061577   443068903   443076195   443083506   443090824   443098157   443105523   443112735   443119979   443127212   443134432   443141643   443148911
424521946   427345889   442703815   443032149   443039441   443046784   443054101   443061585   443068911   443076203   443083514   443090832   443098165   443105531   443112743   443119987   443127220   443134440   443141650   443148929
424522886   431847359   442703856   443032156   443039458   443046792   443054119   443061593   443068929   443076211   443083522   443090840   443098181   443105549   443112750   443119995   443127238   443134457   443141668   443148937

2010-A Final Cut Legal Schedule of Receivables

 

Sch-A-6


UCC-12010-A 3-31-10

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424523801   432872851   442703872   443032164   443039466   443046800   443054127   443061601   443068937   443076229   443083530   443090857   443098199   443105556   443112768   443120001   443127246   443134465   443141676   443148945
424524049   432924462   442704292   443032172   443039474   443046818   443054135   443061619   443068945   443076237   443083548   443090865   443098207   443105564   443112776   443120019   443127253   443134473   443141684   443148952
424524536   432951333   442704599   443032180   443039482   443046826   443054143   443061627   443068952   443076245   443083555   443090873   443098215   443105572   443112784   443120027   443127261   443134481   443141692   443148960
424526838   433448289   442705091   443032198   443039490   443046834   443054150   443061635   443068960   443076252   443083563   443090881   443098223   443105580   443112792   443120035   443127279   443134499   443141700   443148978
424527844   433595667   442705505   443032206   443039508   443046842   443054168   443061643   443068978   443076260   443083571   443090899   443098231   443105598   443112800   443120043   443127287   443134507   443141718   443148986
424528180   433620994   442706255   443032214   443039516   443046859   443054184   443061650   443068986   443076278   443083589   443090907   443098249   443105606   443112818   443120050   443127295   443134515   443141726   443148994
424528677   433666765   442706446   443032222   443039524   443046867   443054192   443061668   443068994   443076294   443083597   443090915   443098256   443105614   443112826   443120068   443127303   443134523   443141734   443149000
424530046   433746617   442706495   443032230   443039532   443046875   443054200   443061676   443069000   443076302   443083605   443090931   443098264   443105622   443112834   443120076   443127311   443134531   443141742   443149018
424530137   433777745   442707923   443032248   443039540   443046883   443054218   443061684   443069018   443076310   443083613   443090949   443098272   443105630   443112842   443120084   443127329   443134549   443141759   443149026
424530335   433784451   442708053   443032255   443039557   443046891   443054226   443061692   443069026   443076328   443083621   443090956   443098280   443105648   443112859   443120092   443127337   443134556   443141767   443149034
424530418   433785342   442708715   443032263   443039565   443046909   443054234   443061700   443069034   443076336   443083639   443090964   443098298   443105655   443112867   443120100   443127345   443134564   443141775   443149042
424530848   433807567   442709408   443032271   443039573   443046917   443054242   443061718   443069042   443076344   443083647   443090972   443098306   443105663   443112875   443120118   443127352   443134572   443141783   443149059
424531572   433815800   442709713   443032289   443039581   443046925   443054259   443061726   443069059   443076351   443083654   443090980   443098314   443105671   443112883   443120126   443127360   443134580   443141791   443149067
424533032   433833605   442709952   443032297   443039599   443046933   443054267   443061734   443069067   443076369   443083662   443090998   443098322   443105689   443112891   443120134   443127378   443134598   443141809   443149075
424533495   433849288   442710984   443032305   443039607   443046941   443054275   443061742   443069075   443076377   443083670   443091004   443098330   443105697   443112909   443120142   443127386   443134606   443141817   443149083
424534808   433876935   442711016   443032313   443039615   443046958   443054283   443061759   443069083   443076385   443083688   443091038   443098348   443105705   443112917   443120159   443127394   443134614   443141825   443149091
424536225   433891843   442711271   443032321   443039623   443046966   443054291   443061767   443069091   443076393   443083696   443091046   443098355   443105713   443112925   443120167   443127402   443134622   443141833   443149109
424537553   433914199   442713442   443032339   443039631   443046974   443054309   443061775   443069109   443076401   443083704   443091053   443098363   443105721   443112933   443120175   443127410   443134630   443141841   443149117
424538130   433934015   442714424   443032347   443039649   443046982   443054317   443061783   443069117   443076419   443083712   443091079   443098371   443105739   443112941   443120183   443127428   443134648   443141858   443149125
424538262   433935202   442714895   443032354   443039656   443047006   443054325   443061791   443069125   443076427   443083720   443091087   443098389   443105747   443112958   443120191   443127436   443134655   443141866   443149133
424538916   433944089   442714945   443032362   443039664   443047014   443054333   443061809   443069133   443076435   443083738   443091095   443098397   443105754   443112966   443120209   443127444   443134663   443141874   443149141
424540680   433946001   442715421   443032370   443039672   443047022   443054341   443061817   443069141   443076443   443083746   443091103   443098405   443105762   443112974   443120217   443127451   443134671   443141882   443149158
424545341   433953726   442715991   443032388   443039680   443047030   443054358   443061825   443069158   443076450   443083753   443091111   443098413   443105770   443112982   443120225   443127469   443134689   443141890   443149166
424546299   433984440   442716650   443032396   443039698   443047055   443054366   443061833   443069166   443076468   443083761   443091129   443098421   443105788   443112990   443120233   443127477   443134697   443141908   443149174
424548261   434001186   442717013   443032404   443039706   443047063   443054374   443061841   443069174   443076476   443083779   443091137   443098439   443105796   443113006   443120241   443127485   443134705   443141916   443149182
424549822   434042990   442717088   443032412   443039714   443047071   443054382   443061858   443069182   443076484   443083787   443091145   443098447   443105804   443113014   443120258   443127493   443134713   443141924   443149190
424549871   434056768   442717906   443032420   443039722   443047089   443054390   443061866   443069190   443076492   443083795   443091152   443098454   443105812   443113022   443120266   443127501   443134721   443141932   443149208
424553873   434060950   442717963   443032438   443039730   443047097   443054408   443061874   443069208   443076500   443083803   443091160   443098462   443105820   443113030   443120274   443127519   443134739   443141940   443149216
424554020   434184115   442718151   443032446   443039748   443047105   443054416   443061882   443069216   443076518   443083811   443091178   443098470   443105838   443113048   443120282   443127527   443134747   443141957   443149224
424554350   434188546   442719217   443032453   443039755   443047113   443054424   443061890   443069224   443076526   443083829   443091186   443098488   443105846   443113055   443120290   443127535   443134754   443141965   443149232
424555076   434248274   442719647   443032461   443039763   443047121   443054432   443061908   443069232   443076534   443083837   443091194   443098496   443105853   443113063   443120308   443127543   443134762   443141973   443149240
424555233   434447918   442719662   443032479   443039771   443047139   443054440   443061916   443069240   443076542   443083845   443091202   443098504   443105861   443113071   443120316   443127550   443134770   443141981   443149257
424556512   435827738   442720165   443032487   443039789   443047147   443054457   443061924   443069265   443076559   443083852   443091210   443098512   443105879   443113089   443120324   443127568   443134788   443141999   443149265
424557825   435978986   442720769   443032495   443039797   443047154   443054465   443061932   443069273   443076567   443083860   443091228   443098520   443105887   443113097   443120332   443127576   443134796   443142005   443149273
424558906   436050017   442721395   443032503   443039805   443047162   443054473   443061940   443069299   443076575   443083878   443091236   443098538   443105895   443113105   443120340   443127584   443134804   443142013   443149281
424558948   436073639   442722070   443032511   443039821   443047170   443054481   443061957   443069307   443076583   443083886   443091244   443098553   443105903   443113113   443120357   443127600   443134812   443142021   443149299
424559060   436075295   442722229   443032529   443039839   443047188   443054507   443061965   443069315   443076591   443083894   443091251   443098561   443105911   443113121   443120365   443127618   443134820   443142039   443149307
424559425   436087449   442722252   443032537   443039847   443047196   443054515   443061973   443069323   443076609   443083902   443091269   443098579   443105929   443113139   443120373   443127626   443134838   443142047   443149315
424560506   436118228   442722971   443032545   443039854   443047204   443054523   443061981   443069331   443076617   443083910   443091277   443098587   443105937   443113147   443120381   443127634   443134846   443142054   443149323
424561983   436118574   442723458   443032552   443039862   443047212   443054531   443061999   443069349   443076625   443083928   443091285   443098595   443105945   443113154   443120399   443127642   443134853   443142062   443149331
424565547   436127880   442723524   443032560   443039870   443047220   443054549   443062005   443069356   443076633   443083936   443091293   443098603   443105952   443113162   443120407   443127659   443134861   443142070   443149349
424571875   436133094   442724316   443032578   443039888   443047238   443054556   443062013   443069364   443076641   443083944   443091301   443098611   443105960   443113170   443120415   443127667   443134879   443142088   443149356
424572162   436180327   442724969   443032586   443039896   443047246   443054564   443062021   443069372   443076658   443083951   443091319   443098629   443105978   443113188   443120423   443127675   443134887   443142096   443149364
424573426   436186613   442726444   443032594   443039904   443047253   443054572   443062039   443069380   443076666   443083969   443091327   443098637   443105986   443113196   443120431   443127683   443134895   443142104   443149372
424573764   436186894   442726956   443032602   443039912   443047261   443054598   443062047   443069398   443076674   443083977   443091335   443098645   443105994   443113204   443120449   443127691   443134903   443142112   443149398
424575561   436206932   442727699   443032610   443039920   443047279   443054606   443062054   443069406   443076682   443083985   443091343   443098652   443106000   443113212   443120456   443127709   443134911   443142120   443149406
424577799   436223523   442728879   443032628   443039938   443047287   443054614   443062062   443069414   443076690   443083993   443091350   443098660   443106018   443113220   443120464   443127717   443134929   443142138   443149422
424578243   436246003   442728960   443032636   443039946   443047295   443054622   443062070   443069422   443076708   443084009   443091368   443098678   443106026   443113238   443120472   443127725   443134937   443142146   443149430
424578912   436247142   442730024   443032644   443039953   443047303   443054630   443062088   443069448   443076716   443084017   443091376   443098686   443106034   443113246   443120480   443127733   443134945   443142153   443149448
424581163   436264543   442730131   443032651   443039961   443047311   443054648   443062096   443069455   443076724   443084025   443091384   443098694   443106042   443113253   443120498   443127741   443134952   443142161   443149455
424581486   436312516   442730164   443032669   443039979   443047329   443054655   443062104   443069463   443076732   443084033   443091392   443098702   443106059   443113261   443120506   443127758   443134960   443142179   443149463
424583557   436340400   442731691   443032677   443039987   443047337   443054663   443062112   443069471   443076740   443084041   443091400   443098710   443106067   443113279   443120514   443127766   443134978   443142187   443149471
424583664   436366694   442732335   443032685   443039995   443047345   443054671   443062120   443069489   443076757   443084058   443091418   443098728   443106075   443113287   443120522   443127774   443134986   443142195   443149489
424584019   436411847   442732400   443032693   443040001   443047352   443054689   443062138   443069497   443076765   443084066   443091426   443098744   443106083   443113295   443120530   443127782   443134994   443142203   443149497
424584431   436412258   442732566   443032701   443040019   443047360   443054697   443062146   443069505   443076781   443084074   443091434   443098751   443106091   443113303   443120548   443127790   443135009   443142211   443149505
424588036   436422653   442732806   443032719   443040027   443047378   443054705   443062161   443069513   443076799   443084082   443091442   443098769   443106109   443113311   443120555   443127808   443135017   443142229   443149513
424590966   436466122   442734000   443032727   443040035   443047386   443054713   443062179   443069521   443076807   443084090   443091459   443098777   443106117   443113329   443120563   443127816   443135025   443142237   443149521
424593424   436474142   442734216   443032735   443040043   443047394   443054721   443062187   443069539   443076815   443084108   443091467   443098785   443106125   443113337   443120571   443127824   443135033   443142245   443149539
424594745   436487839   442734984   443032750   443040050   443047402   443054739   443062195   443069547   443076823   443084124   443091475   443098793   443106133   443113345   443120589   443127832   443135041   443142252   443149547
424595098   436515894   442735338   443032768   443040076   443047410   443054747   443062203   443069554   443076831   443084140   443091483   443098801   443106141   443113352   443120597   443127840   443135058   443142260   443149554
424596716   436521884   442735411   443032776   443040084   443047428   443054754   443062211   443069570   443076849   443084165   443091491   443098819   443106158   443113360   443120605   443127857   443135066   443142278   443149562
424596989   436523765   442739959   443032784   443040092   443047436   443054762   443062229   443069588   443076856   443084173   443091509   443098827   443106166   443113378   443120613   443127865   443135074   443142286   443149570
424600484   436548648   442740452   443032792   443040100   443047444   443054770   443062237   443069596   443076864   443084181   443091517   443098835   443106174   443113386   443120621   443127873   443135082   443142294   443149588
424601730   436556674   442740932   443032800   443040118   443047451   443054788   443062245   443069604   443076872   443084199   443091525   443098843   443106182   443113394   443120639   443127881   443135090   443142302   443149596
424603728   436571400   442741922   443032818   443040126   443047469   443054796   443062252   443069612   443076880   443084207   443091533   443098850   443106190   443113402   443120647   443127899   443135108   443142310   443149604
424604361   436572788   442743266   443032826   443040134   443047477   443054804   443062260   443069620   443076898   443084215   443091541   443098868   443106208   443113410   443120654   443127907   443135116   443142328   443149612
424605640   436578215   442743670   443032834   443040142   443047485   443054812   443062278   443069638   443076906   443084223   443091558   443098876   443106216   443113428   443120662   443127915   443135124   443142336   443149620
424605657   436585137   442744959   443032842   443040159   443047493   443054820   443062286   443069646   443076914   443084231   443091566   443098884   443106224   443113436   443120670   443127923   443135132   443142344   443149638
424605673   436586283   442745568   443032859   443040167   443047501   443054838   443062294   443069661   443076922   443084249   443091582   443098892   443106232   443113444   443120688   443127931   443135140   443142351   443149646
424606556   436647580   442746095   443032867   443040175   443047519   443054846   443062302   443069679   443076930   443084256   443091590   443098900   443106240   443113451   443120696   443127949   443135157   443142369   443149653
424607018   436663751   442746459   443032875   443040183   443047527   443054853   443062310   443069687   443076948   443084264   443091608   443098918   443106257   443113469   443120704   443127956   443135165   443142377   443149661
424607463   436663827   442748505   443032883   443040191   443047535   443054861   443062328   443069695   443076955   443084272   443091616   443098926   443106265   443113477   443120712   443127964   443135173   443142385   443149679
424608289   436676647   442749263   443032891   443040209   443047543   443054879   443062336   443069703   443076963   443084280   443091624   443098934   443106273   443113485   443120720   443127972   443135181   443142393   443149695

2010-A Final Cut Legal Schedule of Receivables

 

Sch-A-7


UCC-12010-A 3-31-10

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424612406   436680797   442753075   443032909   443040217   443047550   443054887   443062344   443069711   443076971   443084298   443091632   443098942   443106281   443113493   443120738   443127980   443135199   443142401   443149703
424615664   436708473   442753638   443032917   443040225   443047568   443054895   443062351   443069729   443076989   443084306   443091640   443098959   443106299   443113501   443120746   443127998   443135207   443142419   443149711
424615797   436763874   442754867   443032925   443040233   443047576   443054911   443062369   443069737   443076997   443084314   443091657   443098967   443106307   443113519   443120753   443128004   443135215   443142427   443149729
424616407   436771554   442755831   443032933   443040241   443047584   443054929   443062377   443069745   443077003   443084322   443091665   443098975   443106315   443113527   443120761   443128012   443135223   443142435   443149737
424617488   436814768   442759916   443032941   443040258   443047592   443054937   443062385   443069752   443077011   443084330   443091673   443098983   443106323   443113535   443120779   443128020   443135231   443142443   443149745
424618601   436815567   442760377   443032958   443040266   443047600   443054945   443062393   443069760   443077029   443084348   443091681   443098991   443106331   443113543   443120787   443128038   443135249   443142450   443149752
424618791   436823520   442760989   443032966   443040274   443047618   443054952   443062401   443069778   443077037   443084363   443091699   443099007   443106349   443113550   443120795   443128046   443135256   443142468   443149760
424619203   436845820   442762084   443032974   443040282   443047634   443054960   443062419   443069786   443077045   443084371   443091707   443099015   443106356   443113576   443120803   443128053   443135264   443142476   443149778
424619716   436856405   442763413   443032982   443040290   443047642   443054978   443062427   443069794   443077052   443084389   443091715   443099023   443106364   443113584   443120811   443128061   443135272   443142484   443149786
424620870   436876874   442763710   443032990   443040308   443047659   443054986   443062435   443069802   443077060   443084397   443091723   443099031   443106372   443113592   443120829   443128079   443135280   443142492   443149794
424621035   436885875   442764288   443033006   443040316   443047667   443054994   443062443   443069810   443077086   443084405   443091731   443099049   443106380   443113600   443120837   443128087   443135298   443142500   443149802
424622041   436886386   442765319   443033014   443040324   443047675   443055009   443062450   443069828   443077094   443084413   443091749   443099056   443106398   443113618   443120845   443128095   443135306   443142518   443149810
424622363   436909980   442765582   443033022   443040332   443047683   443055017   443062468   443069836   443077102   443084421   443091756   443099064   443106406   443113626   443120852   443128103   443135314   443142526   443149828
424622660   436920805   442766895   443033048   443040340   443047691   443055025   443062476   443069844   443077110   443084439   443091764   443099080   443106414   443113634   443120860   443128111   443135322   443142534   443149836
424626984   436929178   442768149   443033055   443040357   443047709   443055033   443062484   443069851   443077128   443084447   443091772   443099098   443106422   443113642   443120878   443128129   443135330   443142542   443149851
424628311   436941173   442769733   443033063   443040365   443047717   443055041   443062492   443069869   443077136   443084454   443091780   443099106   443106430   443113659   443120886   443128137   443135348   443142559   443149869
424631653   436979934   442770608   443033071   443040373   443047725   443055058   443062500   443069877   443077144   443084462   443091798   443099114   443106448   443113667   443120894   443128145   443135355   443142567   443149877
424631877   436986137   442771101   443033089   443040381   443047733   443055066   443062518   443069885   443077151   443084470   443091806   443099122   443106455   443113683   443120902   443128152   443135363   443142575   443149885
424632032   436989842   442772786   443033097   443040399   443047741   443055074   443062526   443069893   443077169   443084488   443091814   443099130   443106463   443113691   443120910   443128160   443135371   443142583   443149893
424632172   437029168   442773800   443033105   443040415   443047758   443055082   443062534   443069901   443077177   443084496   443091822   443099148   443106471   443113709   443120928   443128178   443135389   443142591   443149901
424634665   437032428   442774634   443033113   443040423   443047766   443055090   443062542   443069919   443077185   443084504   443091830   443099155   443106489   443113717   443120936   443128186   443135397   443142609   443149919
424634855   437032436   442774857   443033121   443040431   443047774   443055108   443062559   443069927   443077193   443084512   443091848   443099163   443106497   443113725   443120944   443128194   443135405   443142617   443149927
424635605   437101090   442775094   443033139   443040449   443047782   443055116   443062567   443069935   443077201   443084520   443091855   443099171   443106505   443113733   443120951   443128202   443135413   443142633   443149935
424636181   437123268   442775524   443033147   443040456   443047790   443055124   443062575   443069943   443077219   443084538   443091863   443099189   443106513   443113741   443120969   443128210   443135421   443142641   443149943
424636926   437171523   442776456   443033154   443040464   443047808   443055132   443062583   443069950   443077227   443084546   443091871   443099197   443106521   443113758   443120977   443128228   443135439   443142658   443149950
424639185   437172885   442776753   443033162   443040472   443047816   443055140   443062591   443069968   443077235   443084553   443091889   443099205   443106539   443113766   443120985   443128236   443135447   443142666   443149968
424640233   437176266   442777553   443033170   443040480   443047824   443055157   443062609   443069976   443077243   443084561   443091897   443099213   443106547   443113774   443120993   443128244   443135454   443142674   443149976
424640431   440876514   442779419   443033188   443040498   443047832   443055165   443062617   443069984   443077250   443084579   443091905   443099221   443106554   443113782   443121009   443128251   443135462   443142682   443149984
424641058   440877140   442780227   443033196   443040506   443047840   443055173   443062625   443069992   443077268   443084587   443091913   443099239   443106562   443113790   443121017   443128269   443135470   443142690   443149992
424641777   440881183   442780706   443033204   443040514   443047857   443055181   443062633   443070008   443077276   443084595   443091921   443099247   443106570   443113808   443121025   443128277   443135488   443142708   443150008
424642031   440890564   442781001   443033212   443040522   443047865   443055199   443062641   443070016   443077284   443084603   443091939   443099254   443106588   443113816   443121033   443128285   443135496   443142716   443150016
424642346   440913945   442781167   443033220   443040530   443047873   443055207   443062658   443070024   443077292   443084611   443091947   443099262   443106596   443113824   443121041   443128293   443135504   443142724   443150024
424642866   440942209   442782512   443033238   443040548   443047881   443055215   443062666   443070032   443077300   443084629   443091954   443099270   443106604   443113832   443121058   443128301   443135512   443142732   443150032
424645976   440944643   442782603   443033246   443040555   443047899   443055223   443062674   443070040   443077318   443084645   443091962   443099288   443106612   443113840   443121066   443128319   443135520   443142740   443150040
424648707   440944874   442783031   443033253   443040563   443047907   443055231   443062682   443070057   443077326   443084652   443091970   443099296   443106620   443113857   443121074   443128327   443135538   443142757   443150057
424648764   440949881   442783973   443033261   443040571   443047915   443055249   443062690   443070065   443077334   443084660   443091988   443099304   443106638   443113865   443121082   443128335   443135546   443142765   443150065
424649150   440963502   442784617   443033279   443040589   443047923   443055256   443062708   443070073   443077342   443084686   443091996   443099312   443106646   443113873   443121090   443128343   443135553   443142773   443150073
424650232   440998961   442784765   443033287   443040597   443047931   443055264   443062716   443070081   443077359   443084694   443092002   443099320   443106653   443113881   443121108   443128350   443135561   443142781   443150081
424650562   441000965   442785135   443033295   443040605   443047949   443055272   443062724   443070099   443077367   443084702   443092010   443099338   443106661   443113899   443121116   443128368   443135579   443142807   443150099
424652964   441018637   442786018   443033303   443040613   443047956   443055280   443062732   443070107   443077375   443084710   443092028   443099346   443106679   443113907   443121124   443128376   443135587   443142815   443150107
424655645   441020104   442786091   443033311   443040621   443047964   443055298   443062740   443070115   443077383   443084728   443092036   443099353   443106687   443113915   443121132   443128384   443135603   443142823   443150115
424657419   441036696   442786208   443033337   443040639   443047972   443055306   443062757   443070123   443077391   443084736   443092044   443099361   443106695   443113923   443121140   443128392   443135611   443142831   443150123
424657757   441056611   442786315   443033345   443040647   443047980   443055314   443062765   443070131   443077409   443084744   443092051   443099379   443106703   443113931   443121157   443128400   443135629   443142849   443150131
424659126   441065851   442788162   443033352   443040654   443047998   443055322   443062773   443070149   443077417   443084751   443092069   443099387   443106711   443113949   443121165   443128418   443135637   443142856   443150149
424659597   441082294   442788220   443033360   443040662   443048004   443055330   443062781   443070156   443077425   443084769   443092077   443099395   443106729   443113956   443121173   443128426   443135645   443142864   443150156
424661775   441093630   442789079   443033378   443040670   443048012   443055348   443062799   443070164   443077433   443084777   443092085   443099403   443106737   443113964   443121181   443128434   443135652   443142872   443150164
424665883   441121241   442792057   443033386   443040688   443048020   443055355   443062807   443070172   443077441   443084785   443092093   443099411   443106745   443113972   443121199   443128442   443135660   443142880   443150172
424668432   441121910   442792115   443033394   443040696   443048038   443055363   443062815   443070180   443077458   443084793   443092101   443099429   443106752   443113980   443121207   443128459   443135678   443142898   443150180
424668820   441130069   442794889   443033402   443040712   443048046   443055371   443062823   443070198   443077466   443084801   443092119   443099437   443106760   443113998   443121215   443128467   443135686   443142906   443150198
424668952   441139151   442797825   443033410   443040720   443048053   443055389   443062849   443070206   443077474   443084819   443092127   443099445   443106778   443114004   443121223   443128475   443135694   443142914   443150206
424669158   441163219   442799474   443033428   443040738   443048061   443055397   443062856   443070214   443077482   443084827   443092135   443099452   443106786   443114012   443121231   443128483   443135702   443142922   443150214
424670446   441172632   442800025   443033436   443040746   443048079   443055405   443062864   443070222   443077490   443084835   443092143   443099460   443106794   443114020   443121249   443128491   443135710   443142930   443150222
424670552   441175528   442800538   443033444   443040753   443048087   443055413   443062872   443070230   443077508   443084843   443092150   443099478   443106802   443114038   443121256   443128509   443135728   443142948   443150230
424674414   441176237   442801247   443033451   443040761   443048095   443055421   443062880   443070248   443077516   443084850   443092184   443099486   443106810   443114046   443121264   443128517   443135736   443142955   443150248
424676856   441188166   442803219   443033469   443040779   443048103   443055439   443062898   443070255   443077524   443084868   443092192   443099494   443106828   443114053   443121272   443128525   443135744   443142963   443150255
424677128   441195666   442803706   443033477   443040787   443048111   443055447   443062906   443070263   443077532   443084876   443092200   443099502   443106836   443114061   443121280   443128533   443135751   443142971   443150263
424677615   441198710   442805321   443033485   443040795   443048129   443055454   443062914   443070271   443077540   443084884   443092218   443099510   443106844   443114079   443121298   443128541   443135769   443142989   443150271
424677912   441234416   442805594   443033493   443040803   443048137   443055462   443062922   443070289   443077557   443084892   443092226   443099528   443106851   443114087   443121306   443128558   443135777   443142997   443150289
424677946   441274701   442805701   443033501   443040811   443048145   443055488   443062930   443070297   443077565   443084900   443092234   443099536   443106869   443114095   443121314   443128566   443135785   443143003   443150297
424678431   441282423   442806055   443033519   443040829   443048152   443055496   443062948   443070305   443077573   443084918   443092242   443099544   443106877   443114103   443121322   443128574   443135793   443143011   443150305
424679090   441291523   442806691   443033527   443040837   443048160   443055504   443062955   443070313   443077581   443084926   443092259   443099551   443106885   443114111   443121330   443128582   443135801   443143029   443150313
424679827   441296324   442808838   443033535   443040845   443048178   443055512   443062963   443070321   443077599   443084942   443092267   443099569   443106893   443114129   443121348   443128608   443135819   443143037   443150321
424681633   441297314   442809877   443033543   443040852   443048186   443055546   443062971   443070339   443077607   443084959   443092275   443099577   443106901   443114137   443121355   443128616   443135827   443143045   443150339
424681716   441328986   442810370   443033550   443040860   443048194   443055553   443062989   443070347   443077615   443084967   443092283   443099585   443106919   443114145   443121363   443128624   443135835   443143052   443150347
424683340   441352499   442811063   443033568   443040878   443048202   443055561   443062997   443070354   443077623   443084975   443092291   443099593   443106927   443114152   443121371   443128632   443135843   443143060   443150354
424683589   441357522   442812152   443033576   443040886   443048210   443055579   443063003   443070362   443077631   443084983   443092309   443099601   443106935   443114160   443121389   443128640   443135850   443143078   443150362
424683738   441357795   442813242   443033584   443040894   443048228   443055587   443063011   443070370   443077649   443084991   443092317   443099619   443106943   443114178   443121397   443128657   443135868   443143086   443150370
424684272   441357944   442817797   443033592   443040902   443048236   443055595   443063029   443070388   443077656   443085006   443092325   443099627   443106950   443114194   443121405   443128665   443135876   443143094   443150388
424685345   441367737   442818613   443033600   443040910   443048244   443055629   443063037   443070396   443077664   443085014   443092333   443099635   443106968   443114202   443121413   443128673   443135884   443143102   443150396
424687143   441399490   442818753   443033618   443040928   443048251   443055637   443063045   443070404   443077672   443085022   443092341   443099643   443106976   443114210   443121421   443128681   443135892   443143110   443150404
424689909   441425345   442819728   443033626   443040944   443048269   443055645   443063052   443070412   443077680   443085030   443092358   443099650   443106984   443114228   443121439   443128699   443135900   443143128   443150412
424690857   441434859   442821567   443033634   443040951   443048277   443055652   443063060   443070420   443077698   443085048   443092366   443099668   443106992   443114236   443121447   443128707   443135918   443143136   443150420
424691053   441440138   442821666   443033642   443040969   443048285   443055660   443063078   443070438   443077706   443085055   443092374   443099676   443107008   443114244   443121454   443128715   443135926   443143144   443150438

2010-A Final Cut Legal Schedule of Receivables

 

Sch-A-8


UCC-12010-A 3-31-10

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424691145   441441219   442821971   443033659   443040977   443048293   443055678   443063086   443070446   443077714   443085063   443092382   443099684   443107016   443114251   443121462   443128723   443135934   443143151   443150446
424691509   441448222   442822193   443033667   443040985   443048301   443055686   443063102   443070453   443077722   443085071   443092390   443099692   443107024   443114269   443121470   443128731   443135942   443143169   443150453
424692515   441452570   442822870   443033675   443040993   443048319   443055694   443063110   443070461   443077730   443085089   443092408   443099700   443107032   443114277   443121488   443128749   443135959   443143177   443150461
424695476   441454576   442824348   443033683   443041009   443048327   443055710   443063128   443070479   443077748   443085097   443092416   443099718   443107040   443114285   443121496   443128756   443135967   443143185   443150479
424695567   441460052   442825931   443033691   443041017   443048335   443055728   443063136   443070487   443077755   443085105   443092424   443099726   443107057   443114293   443121504   443128764   443135975   443143193   443150487
424697233   441469335   442826392   443033709   443041025   443048343   443055736   443063144   443070495   443077763   443085113   443092432   443099734   443107065   443114301   443121512   443128772   443135983   443143201   443150495
424701720   441470366   442826830   443033717   443041033   443048350   443055744   443063151   443070503   443077771   443085121   443092440   443099742   443107073   443114319   443121520   443128780   443135991   443143219   443150503
424702157   441470440   442826855   443033725   443041041   443048368   443055751   443063169   443070511   443077789   443085139   443092457   443099759   443107081   443114327   443121546   443128798   443136007   443143227   443150511
424702330   441473261   442826939   443033733   443041058   443048384   443055769   443063177   443070529   443077797   443085147   443092465   443099767   443107099   443114335   443121553   443128806   443136015   443143235   443150529
424702348   441485026   442827549   443033741   443041066   443048392   443055777   443063185   443070537   443077805   443085154   443092473   443099775   443107107   443114343   443121561   443128814   443136023   443143243   443150537
424703155   441490067   442828349   443033758   443041074   443048400   443055785   443063193   443070545   443077813   443085162   443092481   443099783   443107115   443114350   443121579   443128822   443136031   443143250   443150545
424703163   441495355   442830006   443033766   443041082   443048418   443055793   443063201   443070552   443077821   443085170   443092499   443099791   443107123   443114368   443121587   443128830   443136049   443143268   443150552
424704294   441505799   442831509   443033774   443041090   443048426   443055801   443063219   443070560   443077839   443085188   443092507   443099809   443107131   443114376   443121595   443128848   443136056   443143276   443150560
424705200   441507118   442832150   443033782   443041108   443048434   443055819   443063227   443070578   443077847   443085196   443092515   443099817   443107149   443114384   443121603   443128855   443136064   443143284   443150578
424705655   441516424   442834289   443033790   443041116   443048442   443055827   443063235   443070586   443077854   443085204   443092523   443099825   443107156   443114392   443121611   443128863   443136072   443143292   443150586
424707602   441519790   442834917   443033824   443041124   443048459   443055835   443063243   443070594   443077862   443085212   443092531   443099833   443107164   443114400   443121629   443128871   443136080   443143300   443150594
424708717   441532934   442836953   443033832   443041132   443048467   443055843   443063250   443070602   443077870   443085220   443092549   443099841   443107172   443114418   443121637   443128889   443136106   443143318   443150602
424709137   441542438   442837894   443033840   443041140   443048475   443055850   443063268   443070610   443077888   443085238   443092556   443099858   443107180   443114426   443121645   443128897   443136114   443143326   443150610
424709186   441544319   442837985   443033857   443041157   443048483   443055868   443063284   443070628   443077896   443085246   443092564   443099866   443107198   443114434   443121652   443128905   443136122   443143334   443150628
424709285   441563699   442841342   443033865   443041165   443048491   443055876   443063292   443070636   443077904   443085253   443092572   443099874   443107206   443114442   443121660   443128913   443136130   443143359   443150636
424710176   441579786   442841706   443033873   443041173   443048509   443055884   443063300   443070644   443077912   443085261   443092580   443099882   443107214   443114459   443121678   443128921   443136148   443143367   443150644
424711927   441581063   442841953   443033881   443041181   443048517   443055892   443063318   443070651   443077920   443085279   443092598   443099890   443107222   443114467   443121686   443128939   443136155   443143375   443150651
424712701   441587508   442842134   443033899   443041199   443048525   443055900   443063326   443070669   443077938   443085287   443092606   443099916   443107230   443114475   443121694   443128947   443136163   443143383   443150669
424712990   441591773   442842902   443033907   443041215   443048533   443055918   443063334   443070677   443077946   443085295   443092614   443099924   443107248   443114483   443121702   443128954   443136171   443143391   443150677
424713238   441594165   442843389   443033915   443041223   443048558   443055926   443063342   443070685   443077953   443085303   443092622   443099932   443107255   443114491   443121710   443128962   443136189   443143409   443150685
424713469   441595550   442843959   443033923   443041231   443048566   443055934   443063359   443070693   443077961   443085311   443092630   443099940   443107263   443114509   443121728   443128970   443136197   443143417   443150693
424715092   441596897   442846234   443033931   443041249   443048574   443055942   443063367   443070701   443077979   443085329   443092648   443099957   443107271   443114517   443121736   443128988   443136205   443143425   443150701
424715225   441604717   442848248   443033949   443041256   443048582   443055959   443063375   443070719   443077987   443085337   443092655   443099965   443107289   443114525   443121744   443128996   443136213   443143433   443150719
424715894   441609211   442849683   443033956   443041264   443048590   443055967   443063383   443070727   443077995   443085345   443092663   443099973   443107297   443114533   443121751   443129002   443136221   443143441   443150727
424715977   441624194   442849717   443033964   443041272   443048608   443055975   443063391   443070735   443078019   443085352   443092671   443099981   443107305   443114541   443121769   443129010   443136239   443143458   443150735
424716165   441624483   442849758   443033972   443041298   443048616   443055983   443063409   443070743   443078027   443085360   443092689   443099999   443107313   443114558   443121777   443129028   443136247   443143466   443150743
424716561   441629383   442850830   443033980   443041306   443048624   443055991   443063417   443070750   443078035   443085378   443092697   443100003   443107321   443114566   443121785   443129036   443136254   443143474   443150750
424717031   441630233   442853511   443033998   443041314   443048632   443056007   443063425   443070768   443078043   443085394   443092705   443100011   443107339   443114574   443121793   443129044   443136262   443143482   443150768
424722320   441641008   442854329   443034004   443041322   443048640   443056015   443063433   443070776   443078050   443085402   443092713   443100029   443107347   443114582   443121801   443129051   443136270   443143490   443150776
424722858   441647294   442854477   443034012   443041330   443048657   443056023   443063441   443070784   443078068   443085410   443092721   443100037   443107354   443114590   443121819   443129069   443136288   443143508   443150784
424723344   441653490   442855409   443034020   443041348   443048665   443056031   443063458   443070792   443078076   443085428   443092739   443100045   443107362   443114608   443121827   443129077   443136296   443143516   443150792
424726222   441656592   442858304   443034038   443041355   443048673   443056049   443063466   443070800   443078084   443085436   443092747   443100052   443107370   443114616   443121835   443129085   443136304   443143524   443150800
424726818   441656733   442858940   443034046   443041363   443048681   443056056   443063482   443070818   443078092   443085444   443092754   443100060   443107388   443114624   443121843   443129093   443136312   443143532   443150818
424727014   441657509   442859922   443034053   443041371   443048699   443056064   443063490   443070826   443078100   443085451   443092762   443100078   443107396   443114632   443121850   443129101   443136320   443143540   443150826
424729028   441666054   442860904   443034061   443041389   443048707   443056072   443063508   443070834   443078118   443085477   443092770   443100086   443107404   443114640   443121868   443129119   443136338   443143557   443150834
424729713   441668399   442861175   443034079   443041405   443048715   443056080   443063516   443070842   443078126   443085485   443092788   443100094   443107412   443114657   443121876   443129127   443136346   443143565   443150842
424730638   441670692   442861498   443034087   443041413   443048723   443056098   443063524   443070859   443078134   443085493   443092796   443100102   443107420   443114665   443121884   443129135   443136353   443143573   443150859
424731479   441672466   442863296   443034095   443041421   443048731   443056106   443063532   443070867   443078142   443085501   443092804   443100110   443107438   443114673   443121892   443129143   443136361   443143581   443150867
424732840   441673332   442863544   443034103   443041439   443048749   443056114   443063540   443070875   443078159   443085519   443092812   443100128   443107446   443114681   443121900   443129150   443136379   443143599   443150875
424734283   441679289   442864864   443034111   443041447   443048756   443056122   443063557   443070883   443078167   443085527   443092820   443100136   443107453   443114699   443121918   443129168   443136387   443143607   443150883
424734432   441682523   442865374   443034129   443041454   443048764   443056130   443063565   443070891   443078175   443085535   443092838   443100144   443107461   443114707   443121926   443129176   443136395   443143615   443150891
424735173   441686896   442868493   443034137   443041462   443048772   443056148   443063573   443070909   443078183   443085543   443092846   443100151   443107479   443114715   443121934   443129184   443136403   443143623   443150909
424735207   441687084   442875779   443034145   443041470   443048780   443056155   443063581   443070917   443078191   443085550   443092853   443100169   443107487   443114723   443121942   443129192   443136411   443143631   443150917
424736072   441687621   442877007   443034152   443041488   443048798   443056163   443063599   443070925   443078209   443085568   443092861   443100177   443107495   443114731   443121959   443129200   443136429   443143649   443150925
424736155   441688041   442877163   443034160   443041496   443048806   443056171   443063607   443070933   443078217   443085576   443092879   443100185   443107503   443114749   443121967   443129218   443136437   443143656   443150933
424736510   441688280   442877304   443034178   443041504   443048814   443056189   443063615   443070941   443078225   443085584   443092887   443100193   443107511   443114756   443121975   443129226   443136445   443143672   443150941
424737294   441693017   442878229   443034186   443041512   443048822   443056197   443063623   443070958   443078233   443085592   443092895   443100201   443107529   443114772   443121983   443129234   443136452   443143680   443150958
424737542   441699154   442879078   443034194   443041520   443048830   443056205   443063631   443070966   443078241   443085600   443092911   443100219   443107537   443114780   443121991   443129259   443136460   443143698   443150966
424738243   441701364   442879987   443034202   443041538   443048848   443056213   443063649   443070974   443078258   443085618   443092929   443100227   443107545   443114798   443122007   443129267   443136478   443143706   443150974
424738268   441713930   442880530   443034210   443041546   443048855   443056221   443063656   443070982   443078266   443085626   443092937   443100235   443107552   443114806   443122015   443129275   443136486   443143714   443150982
424738466   441716974   442880845   443034228   443041553   443048863   443056239   443063664   443070990   443078274   443085634   443092945   443100243   443107560   443114814   443122023   443129283   443136494   443143722   443150990
424741155   441719937   442882874   443034236   443041561   443048871   443056247   443063672   443071006   443078282   443085642   443092952   443100250   443107578   443114822   443122031   443129291   443136502   443143730   443151006
424743896   441721040   442883617   443034244   443041579   443048889   443056254   443063680   443071014   443078290   443085659   443092960   443100268   443107586   443114830   443122049   443129309   443136510   443143748   443151014
424745644   441732708   442884508   443034251   443041587   443048897   443056262   443063698   443071022   443078308   443085667   443092978   443100276   443107602   443114848   443122056   443129317   443136528   443143755   443151022
424746568   441733151   442884854   443034269   443041595   443048905   443056270   443063706   443071030   443078316   443085675   443092986   443100284   443107610   443114855   443122064   443129325   443136536   443143763   443151030
424747616   441734381   442885026   443034277   443041603   443048913   443056288   443063714   443071048   443078332   443085683   443092994   443100292   443107628   443114863   443122072   443129333   443136544   443143771   443151048
424747889   441735180   442885042   443034285   443041611   443048921   443056296   443063722   443071055   443078340   443085691   443093000   443100300   443107636   443114871   443122080   443129341   443136551   443143789   443151055
424749273   441742095   442885257   443034293   443041629   443048939   443056304   443063730   443071063   443078357   443085709   443093018   443100318   443107644   443114889   443122098   443129358   443136569   443143797   443151063
424749489   441749124   442885315   443034301   443041637   443048947   443056312   443063755   443071071   443078365   443085717   443093026   443100326   443107651   443114897   443122106   443129366   443136577   443143805   443151071
424749760   441765856   442890414   443034319   443041645   443048954   443056320   443063763   443071089   443078373   443085725   443093034   443100334   443107669   443114905   443122114   443129374   443136585   443143813   443151089
424749786   441773702   442890547   443034327   443041652   443048962   443056338   443063771   443071097   443078381   443085733   443093042   443100359   443107677   443114913   443122122   443129382   443136593   443143821   443151097
424750297   441775392   442890653   443034335   443041660   443048970   443056346   443063789   443071105   443078399   443085741   443093067   443100367   443107685   443114921   443122130   443129390   443136601   443143839   443151105
424752236   441777166   442890703   443034343   443041678   443048988   443056353   443063797   443071113   443078407   443085758   443093075   443100375   443107693   443114939   443122148   443129408   443136619   443143847   443151113
424753101   441777976   442891289   443034350   443041686   443048996   443056361   443063805   443071121   443078415   443085766   443093083   443100383   443107701   443114947   443122155   443129416   443136627   443143854   443151121
424753895   441785060   442893426   443034368   443041694   443049002   443056379   443063813   443071139   443078423   443085774   443093091   443100391   443107719   443114954   443122163   443129424   443136635   443143862   443151139
424755668   441798477   442898185   443034376   443041702   443049010   443056387   443063821   443071147   443078431   443085782   443093109   443100409   443107727   443114962   443122171   443129432   443136643   443143870   443151147
424756047   441801495   442898383   443034384   443041710   443049028   443056395   443063839   443071154   443078449   443085790   443093117   443100417   443107735   443114970   443122189   443129440   443136650   443143888   443151154
424757672   441808805   442899076   443034392   443041728   443049036   443056403   443063847   443071162   443078456   443085808   443093125   443100425   443107743   443114988   443122197   443129457   443136668   443143896   443151162

2010-A Final Cut Legal Schedule of Receivables

 

Sch-A-9


UCC-12010-A 3-31-10

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424757698   441810512   442900593   443034400   443041736   443049044   443056411   443063854   443071170   443078464   443085816   443093133   443100441   443107750   443114996   443122205   443129465   443136676   443143904   443151170
424757854   441813409   442900999   443034418   443041744   443049051   443056429   443063862   443071188   443078472   443085824   443093141   443100458   443107768   443115001   443122213   443129473   443136684   443143912   443151188
424759561   441815156   442901948   443034426   443041751   443049069   443056437   443063870   443071196   443078480   443085832   443093158   443100466   443107776   443115019   443122221   443129481   443136692   443143920   443151196
424761625   441818283   442902276   443034434   443041769   443049077   443056445   443063888   443071204   443078498   443085840   443093166   443100474   443107784   443115027   443122239   443129499   443136700   443143946   443151204
424763076   441819083   442902599   443034442   443041777   443049085   443056452   443063896   443071212   443078506   443085857   443093174   443100482   443107792   443115035   443122247   443129507   443136718   443143953   443151212
424764439   441822061   442907135   443034459   443041785   443049093   443056460   443063904   443071220   443078514   443085865   443093182   443100490   443107800   443115043   443122254   443129515   443136726   443143961   443151220
424764959   441830981   442907671   443034467   443041793   443049101   443056478   443063912   443071238   443078522   443085873   443093190   443100508   443107818   443115050   443122262   443129523   443136734   443143979   443151238
424765436   441831484   442907812   443034475   443041801   443049119   443056486   443063920   443071246   443078530   443085881   443093208   443100516   443107826   443115068   443122270   443129531   443136742   443143987   443151246
424768141   441831757   442908851   443034483   443041819   443049127   443056494   443063938   443071253   443078548   443085899   443093216   443100524   443107834   443115076   443122288   443129549   443136759   443143995   443151253
424768232   441838943   442911889   443034491   443041835   443049135   443056502   443063946   443071261   443078555   443085907   443093224   443100532   443107842   443115084   443122296   443129556   443136767   443144001   443151261
424771848   441839610   442912440   443034509   443041843   443049143   443056510   443063953   443071279   443078563   443085915   443093232   443100540   443107859   443115092   443122304   443129564   443136775   443144019   443151279
424772770   441840089   442912507   443034517   443041850   443049150   443056528   443063961   443071287   443078571   443085923   443093257   443100557   443107867   443115100   443122312   443129572   443136783   443144027   443151287
424772929   441840493   442914586   443034525   443041868   443049168   443056536   443063979   443071295   443078589   443085931   443093265   443100565   443107875   443115118   443122320   443129598   443136791   443144035   443151295
424773778   441844453   442917399   443034533   443041876   443049176   443056544   443063987   443071303   443078597   443085949   443093273   443100573   443107883   443115126   443122338   443129606   443136809   443144043   443151303
424776789   441845385   442917993   443034541   443041884   443049184   443056551   443063995   443071311   443078605   443085956   443093281   443100581   443107891   443115134   443122346   443129614   443136817   443144050   443151311
424777092   441858743   442918629   443034558   443041892   443049192   443056569   443064001   443071329   443078613   443085964   443093299   443100599   443107909   443115142   443122353   443129622   443136825   443144068   443151329
424777621   441865532   442919007   443034566   443041900   443049218   443056577   443064019   443071337   443078621   443085972   443093307   443100607   443107917   443115159   443122361   443129630   443136833   443144076   443151337
424777860   441865946   442921045   443034574   443041918   443049226   443056585   443064035   443071345   443078639   443085980   443093315   443100615   443107925   443115167   443122379   443129648   443136841   443144084   443151345
424778405   441867595   442922100   443034582   443041926   443049234   443056593   443064043   443071352   443078647   443085998   443093323   443100623   443107933   443115175   443122387   443129655   443136858   443144092   443151352
424778462   441877370   442922720   443034590   443041934   443049242   443056601   443064050   443071360   443078654   443086004   443093331   443100631   443107941   443115183   443122395   443129663   443136866   443144100   443151360
424778934   441882057   442923025   443034608   443041942   443049259   443056619   443064068   443071378   443078662   443086012   443093349   443100649   443107958   443115191   443122403   443129671   443136874   443144118   443151378
424779239   441884160   442925277   443034616   443041959   443049267   443056627   443064076   443071386   443078670   443086020   443093356   443100656   443107966   443115209   443122411   443129689   443136882   443144126   443151386
424781706   441887601   442926275   443034624   443041967   443049275   443056635   443064084   443071402   443078688   443086038   443093364   443100664   443107974   443115217   443122429   443129697   443136890   443144134   443151394
424782597   441888286   442926531   443034632   443041975   443049283   443056643   443064092   443071410   443078696   443086046   443093372   443100672   443107982   443115225   443122437   443129705   443136908   443144142   443151402
424782639   441889094   442927984   443034640   443041983   443049291   443056650   443064100   443071428   443078704   443086053   443093380   443100680   443107990   443115233   443122445   443129713   443136916   443144159   443151410
424783439   441895018   442928057   443034657   443041991   443049309   443056668   443064118   443071436   443078712   443086061   443093398   443100698   443108006   443115241   443122452   443129721   443136924   443144175   443151428
424784072   441896248   442930582   443034665   443042007   443049317   443056676   443064126   443071444   443078720   443086079   443093406   443100706   443108014   443115258   443122460   443129739   443136932   443144183   443151436
424784841   441896859   442931838   443034673   443042015   443049325   443056684   443064134   443071451   443078738   443086087   443093414   443100714   443108022   443115266   443122478   443129747   443136940   443144191   443151444
424785525   441897477   442933164   443034681   443042023   443049333   443056692   443064142   443071469   443078746   443086095   443093422   443100722   443108030   443115274   443122486   443129754   443136957   443144209   443151451
424785640   441907607   442934782   443034715   443042031   443049341   443056700   443064159   443071477   443078753   443086103   443093430   443100730   443108048   443115282   443122494   443129762   443136965   443144217   443151469
424786911   441913860   442934873   443034723   443042049   443049358   443056718   443064167   443071485   443078761   443086111   443093448   443100748   443108055   443115290   443122502   443129770   443136973   443144225   443151477
424786952   441914199   442935714   443034731   443042056   443049366   443056726   443064175   443071493   443078779   443086129   443093455   443100755   443108063   443115308   443122510   443129788   443136981   443144233   443151485
424787539   441921772   442936886   443034749   443042064   443049374   443056734   443064183   443071501   443078787   443086137   443093463   443100763   443108071   443115316   443122528   443129796   443136999   443144241   443151493
424788487   441922978   442940284   443034756   443042072   443049382   443056742   443064191   443071519   443078795   443086145   443093471   443100771   443108089   443115324   443122536   443129804   443137005   443144258   443151501
424790111   441925658   442941381   443034764   443042080   443049390   443056759   443064209   443071527   443078811   443086152   443093489   443100789   443108097   443115332   443122544   443129812   443137013   443144266   443151519
424793164   441929056   442942447   443034772   443042098   443049424   443056767   443064217   443071535   443078829   443086160   443093497   443100797   443108105   443115340   443122551   443129820   443137021   443144274   443151527
424793503   441930922   442948840   443034780   443042106   443049432   443056775   443064225   443071543   443078837   443086178   443093505   443100805   443108113   443115357   443122569   443129838   443137039   443144282   443151535
424793610   441949583   442950010   443034798   443042114   443049440   443056783   443064233   443071550   443078845   443086186   443093513   443100813   443108121   443115365   443122577   443129846   443137047   443144290   443151543
424793776   441952322   442951091   443034806   443042122   443049457   443056791   443064241   443071568   443078852   443086194   443093521   443100821   443108139   443115373   443122585   443129853   443137054   443144308   443151550
424794428   441953809   442951885   443034814   443042130   443049465   443056817   443064258   443071576   443078860   443086202   443093539   443100839   443108147   443115381   443122593   443129861   443137062   443144316   443151568
424795912   441964889   442952446   443034822   443042148   443049473   443056825   443064266   443071584   443078878   443086210   443093547   443100847   443108154   443115399   443122601   443129879   443137070   443144324   443151576
424796670   441968815   442953816   443034830   443042155   443049481   443056833   443064274   443071592   443078886   443086228   443093554   443100854   443108162   443115407   443122619   443129887   443137088   443144332   443151584
424797975   441969987   442955654   443034848   443042163   443049499   443056841   443064282   443071600   443078902   443086236   443093562   443100862   443108170   443115415   443122627   443129895   443137096   443144340   443151592
424798965   441970811   442955738   443034855   443042171   443049507   443056858   443064290   443071618   443078910   443086244   443093570   443100870   443108188   443115423   443122635   443129903   443137104   443144357   443151600
424799567   441973153   442957643   443034863   443042189   443049515   443056866   443064316   443071626   443078928   443086251   443093588   443100888   443108196   443115431   443122643   443129911   443137112   443144365   443151618
424800761   441980513   442959870   443034871   443042197   443049523   443056874   443064324   443071634   443078936   443086269   443093596   443100896   443108204   443115449   443122650   443129929   443137120   443144373   443151626
424801611   441982766   442960183   443034889   443042205   443049531   443056882   443064332   443071642   443078944   443086277   443093604   443100904   443108212   443115456   443122668   443129937   443137138   443144381   443151733
424802528   441995339   442966917   443034897   443042213   443049549   443056890   443064340   443071659   443078951   443086285   443093612   443100912   443108220   443115464   443122676   443129945   443137146   443144399   443151741
424803682   441999018   442971297   443034905   443042221   443049556   443056908   443064357   443071667   443078969   443086293   443093620   443100920   443108238   443115472   443122692   443129952   443137153   443144407   443151782
424805943   442006763   442972113   443034913   443042239   443049564   443056916   443064365   443071675   443078977   443086301   443093638   443100938   443108246   443115480   443122700   443129960   443137161   443144415   443151832
424806081   442012522   442976775   443034921   443042247   443049572   443056924   443064373   443071683   443078993   443086319   443093646   443100946   443108253   443115498   443122718   443129978   443137179   443144423   443152103
424806362   442018230   442980868   443034939   443042254   443049580   443056932   443064381   443071691   443079009   443086327   443093653   443100953   443108261   443115506   443122726   443129986   443137187   443144431   443152277
424807394   442019881   442982872   443034947   443042262   443049598   443056940   443064399   443071709   443079017   443086335   443093661   443100961   443108279   443115514   443122742   443129994   443137195   443144449   443152418
424807550   442026522   442991170   443034954   443042270   443049614   443056957   443064407   443071717   443079025   443086343   443093679   443100979   443108287   443115522   443122759   443130000   443137203   443144456   443152681
424807865   442039061   442994364   443034962   443042288   443049622   443056965   443064415   443071725   443079041   443086350   443093687   443100987   443108295   443115530   443122767   443130018   443137211   443144464   443152707
424809010   442043972   442996567   443034970   443042296   443049630   443056973   443064423   443071733   443079058   443086368   443093695   443100995   443108303   443115548   443122775   443130026   443137229   443144472   443152848
424809580   442048492   443011374   443034988   443042304   443049648   443056981   443064431   443071741   443079066   443086376   443093703   443101001   443108311   443115555   443122783   443130034   443137237   443144480   443152855
424810158   442048922   443016779   443034996   443042312   443049655   443056999   443064449   443071758   443079074   443086384   443093711   443101019   443108329   443115563   443122791   443130042   443137245   443144498   443152939
424811362   442050886   443022025   443035001   443042320   443049663   443057005   443064456   443071766   443079082   443086392   443093729   443101027   443108337   443115571   443122809   443130059   443137252   443144506   443152947
424811370   442051058   443026463   443035019   443042338   443049671   443057021   443064464   443071774   443079108   443086400   443093737   443101035   443108345   443115589   443122817   443130067   443137260   443144514   443153036
424813392   442052858   443026471   443035027   443042346   443049689   443057039   443064472   443071782   443079116   443086418   443093745   443101043   443108352   443115597   443122825   443130075   443137278   443144522   443153085
424815157   442053229   443026497   443035035   443042353   443049697   443057047   443064480   443071790   443079124   443086426   443093752   443101050   443108360   443115605   443122833   443130083   443137286   443144530   443153234
424815793   442063327   443026505   443035043   443042361   443049705   443057054   443064498   443071808   443079132   443086434   443093760   443101068   443108378   443115613   443122841   443130091   443137294   443144548   443153309
424815843   442069506   443026513   443035050   443042379   443049713   443057062   443064506   443071816   443079140   443086442   443093778   443101076   443108386   443115621   443122858   443130109   443137302   443144555   443153341
424817773   442083176   443026521   443035068   443042387   443049721   443057070   443064514   443071824   443079157   443086459   443093786   443101084   443108394   443115639   443122866   443130117   443137310   443144563   443153358
424818102   442102935   443026562   443035076   443042395   443049739   443057096   443064522   443071832   443079165   443086467   443093794   443101092   443108402   443115647   443122874   443130125   443137328   443144589   443153366
424818250   442103669   443026570   443035084   443042403   443049747   443057104   443064530   443071840   443079173   443086475   443093802   443101100   443108410   443115654   443122882   443130133   443137336   443144597   443153382
424818540   442109278   443026588   443035092   443042411   443049754   443057112   443064548   443071857   443079181   443086483   443093810   443101118   443108428   443115662   443122890   443130141   443137344   443144605   443153440
424818573   442111415   443026596   443035100   443042429   443049762   443057120   443064555   443071865   443079199   443086491   443093828   443101126   443108436   443115670   443122908   443130158   443137351   443144613   443153457
424819571   442118196   443026604   443035118   443042437   443049770   443057138   443064563   443071873   443079207   443086509   443093836   443101134   443108444   443115688   443122916   443130166   443137369   443144621   443153499
424822773   442120309   443026612   443035126   443042445   443049788   443057146   443064571   443071881   443079215   443086517   443093851   443101142   443108451   443115696   443122924   443130174   443137377   443144639   443153523
424822864   442129268   443026620   443035134   443042452   443049796   443057153   443064589   443071899   443079223   443086525   443093869   443101159   443108469   443115704   443122932   443130182   443137385   443144647   443153556
424823110   442145496   443026646   443035142   443042460   443049804   443057161   443064597   443071907   443079231   443086533   443093877   443101167   443108477   443115712   443122940   443130190   443137393   443144654   443153580

2010-A Final Cut Legal Schedule of Receivables

 

Sch-A-10


UCC-12010-A 3-31-10

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424823532   442154423   443026653   443035159   443042478   443049812   443057179   443064605   443071915   443079249   443086541   443093885   443101175   443108485   443115720   443122957   443130208   443137419   443144662   443153622
424823862   442156345   443026661   443035167   443042486   443049820   443057187   443064613   443071923   443079256   443086558   443093893   443101183   443108493   443115738   443122965   443130216   443137427   443144670   443153697
424824910   442156766   443026679   443035175   443042494   443049838   443057195   443064621   443071931   443079264   443086566   443093901   443101191   443108501   443115746   443122973   443130224   443137435   443144688   443153796
424825115   442156873   443026695   443035183   443042502   443049846   443057203   443064639   443071956   443079272   443086574   443093919   443101209   443108519   443115753   443122981   443130232   443137443   443144696   443153861
424829406   442159745   443026703   443035191   443042510   443049853   443057211   443064647   443071964   443079280   443086582   443093927   443101225   443108527   443115761   443122999   443130240   443137450   443144704   443153895
424831535   442160859   443026737   443035209   443042528   443049861   443057229   443064654   443071972   443079298   443086590   443093935   443101233   443108535   443115779   443123005   443130257   443137468   443144712   443153937
424834240   442161592   443026752   443035217   443042536   443049879   443057237   443064662   443071980   443079306   443086608   443093943   443101241   443108543   443115787   443123013   443130265   443137476   443144720   443153945
424834919   442163168   443026760   443035225   443042544   443049887   443057245   443064670   443071998   443079314   443086616   443093950   443101258   443108550   443115795   443123021   443130273   443137484   443144738   443153960
424836047   442165122   443026794   443035233   443042551   443049895   443057252   443064688   443072004   443079322   443086624   443093968   443101266   443108568   443115803   443123039   443130281   443137492   443144746   443154026
424836112   442168449   443026802   443035241   443042569   443049903   443057260   443064696   443072012   443079330   443086632   443093976   443101274   443108576   443115811   443123047   443130299   443137500   443144753   443154109
424836294   442168811   443026810   443035258   443042577   443049911   443057278   443064704   443072020   443079348   443086640   443093984   443101282   443108584   443115829   443123054   443130307   443137518   443144761   443154182
424836518   442168845   443026836   443035266   443042585   443049937   443057286   443064712   443072038   443079355   443086657   443093992   443101290   443108600   443115837   443123062   443130315   443137526   443144779   443154190
424837193   442170437   443026844   443035274   443042593   443049945   443057294   443064720   443072046   443079363   443086665   443094008   443101308   443108618   443115845   443123070   443130323   443137534   443144787   443154380
424837755   442172573   443026851   443035282   443042601   443049952   443057302   443064738   443072053   443079371   443086673   443094016   443101316   443108626   443115852   443123088   443130331   443137542   443144795   443154489
424839306   442173225   443026869   443035290   443042619   443049960   443057310   443064746   443072061   443079389   443086681   443094024   443101324   443108634   443115860   443123096   443130349   443137559   443144803   443154539
424840452   442175691   443026901   443035308   443042627   443049978   443057328   443064753   443072079   443079397   443086699   443094032   443101332   443108642   443115878   443123104   443130356   443137567   443144811   443154596
424840809   442176368   443026927   443035316   443042635   443049986   443057336   443064761   443072087   443079405   443086707   443094040   443101340   443108659   443115886   443123112   443130364   443137575   443144829   443154687
424841500   442176749   443026935   443035324   443042643   443049994   443057344   443064779   443072095   443079413   443086715   443094057   443101357   443108667   443115894   443123120   443130372   443137583   443144837   443154752
424843373   442176772   443026943   443035332   443042650   443050000   443057351   443064787   443072103   443079421   443086723   443094065   443101365   443108675   443115902   443123138   443130380   443137591   443144845   443154828
424843514   442176897   443026950   443035340   443042668   443050018   443057369   443064795   443072111   443079439   443086731   443094073   443101373   443108683   443115910   443123146   443130398   443137609   443144852   443154943
424844751   442179255   443026976   443035357   443042676   443050026   443057377   443064803   443072129   443079447   443086749   443094081   443101381   443108691   443115928   443123153   443130406   443137617   443144860   443155205
424845857   442180808   443026984   443035365   443042684   443050034   443057385   443064811   443072137   443079454   443086756   443094099   443101399   443108709   443115936   443123161   443130414   443137625   443144878   443155262
424846954   442184388   443026992   443035373   443042692   443050042   443057393   443064829   443072145   443079462   443086764   443094107   443101407   443108717   443115944   443123179   443130422   443137633   443144886   443155296
424847903   442184644   443027016   443035381   443042700   443050059   443057401   443064837   443072152   443079470   443086772   443094115   443101415   443108725   443115951   443123187   443130430   443137641   443144894   443155353
424850915   442184768   443027024   443035399   443042718   443050067   443057419   443064845   443072160   443079488   443086780   443094123   443101423   443108733   443115969   443123195   443130448   443137658   443144902   443155452
424852937   442184800   443027032   443035407   443042726   443050075   443057427   443064852   443072178   443079496   443086798   443094131   443101431   443108741   443115985   443123203   443130455   443137666   443144910   443155460
424853513   442186235   443027040   443035415   443042734   443050083   443057435   443064860   443072186   443079504   443086806   443094149   443101449   443108758   443115993   443123229   443130463   443137674   443144928   443155494
424853695   442186862   443027057   443035423   443042742   443050091   443057443   443064878   443072194   443079512   443086814   443094156   443101456   443108766   443116009   443123237   443130471   443137682   443144936   443155676
424853950   442186920   443027065   443035431   443042759   443050109   443057450   443064886   443072202   443079520   443086822   443094164   443101464   443108774   443116017   443123245   443130489   443137690   443144944  
424855625   442187555   443027073   443035449   443042767   443050117   443057468   443064894   443072210   443079538   443086830   443094172   443101472   443108782   443116025   443123252   443130497   443137708   443144951  
424856201   442189528   443027099   443035456   443042775   443050133   443057476   443064902   443072228   443079546   443086848   443094180   443101480   443108790   443116033   443123260   443130505   443137716   443144969  
424857084   442189585   443027107   443035464   443042783   443050141   443057484   443064910   443072236   443079553   443086855   443094198   443101498   443108808   443116041   443123278   443130513   443137724   443144977  
424857407   442190039   443027115   443035472   443042791   443050158   443057492   443064928   443072244   443079561   443086863   443094206   443101506   443108816   443116058   443123286   443130521   443137732   443144985  
424858652   442192597   443027156   443035480   443042809   443050166   443057500   443064936   443072251   443079579   443086871   443094214   443101514   443108824   443116066   443123294   443130539   443137740   443144993  
424861060   442192746   443027164   443035498   443042817   443050174   443057518   443064944   443072269   443079587   443086889   443094222   443101522   443108832   443116074   443123302   443130547   443137757   443145008  
424862506   442194296   443027172   443035506   443042825   443050182   443057526   443064951   443072277   443079595   443086897   443094230   443101530   443108840   443116082   443123310   443130554   443137765   443145016  
424863884   442194361   443027180   443035514   443042833   443050190   443057534   443064969   443072285   443079603   443086905   443094248   443101548   443108857   443116090   443123328   443130562   443137773   443145024  
424864064   442195574   443027198   443035522   443042841   443050208   443057542   443064977   443072293   443079611   443086913   443094255   443101555   443108865   443116108   443123336   443130570   443137781   443145032  
424866721   442199568   443027206   443035530   443042858   443050216   443057559   443064985   443072301   443079629   443086921   443094263   443101563   443108873   443116116   443123344   443130588   443137799   443145040  
424867000   442199758   443027248   443035548   443042866   443050224   443057567   443064993   443072319   443079637   443086939   443094271   443101571   443108881   443116124   443123351   443130596   443137807   443145057  
424867059   442202800   443027255   443035555   443042874   443050232   443057575   443065008   443072327   443079645   443086947   443094289   443101589   443108899   443116132   443123369   443130604   443137815   443145065  
424867471   442203683   443027263   443035563   443042882   443050240   443057583   443065016   443072335   443079652   443086954   443094297   443101597   443108907   443116140   443123377   443130612   443137823   443145073  
424868008   442206256   443027271   443035571   443042890   443050257   443057591   443065024   443072343   443079660   443086962   443094305   443101605   443108923   443116157   443123385   443130620   443137831   443145081  
424869436   442207965   443027289   443035589   443042908   443050265   443057609   443065032   443072350   443079678   443086970   443094313   443101613   443108931   443116165   443123393   443130638   443137849   443145099  
424869725   442208252   443027297   443035597   443042916   443050273   443057617   443065040   443072368   443079694   443086988   443094321   443101621   443108949   443116173   443123401   443130646   443137856   443145107  
424870111   442208898   443027321   443035605   443042924   443050281   443057625   443065065   443072376   443079702   443086996   443094339   443101639   443108956   443116181   443123419   443130653   443137864   443145115  
424870210   442210167   443027339   443035613   443042932   443050299   443057633   443065073   443072384   443079710   443087002   443094347   443101647   443108964   443116199   443123427   443130661   443137872   443145123  
424870285   442211496   443027347   443035621   443042940   443050307   443057641   443065081   443072392   443079728   443087010   443094354   443101654   443108972   443116207   443123435   443130679   443137880   443145131  
424870921   442212742   443027354   443035639   443042957   443050315   443057658   443065099   443072400   443079736   443087028   443094362   443101670   443108980   443116215   443123443   443130687   443137898   443145149  
424871432   442213575   443027388   443035654   443042965   443050331   443057666   443065107   443072418   443079744   443087036   443094370   443101688   443108998   443116223   443123450   443130695   443137906   443145156  
424872893   442213864   443027396   443035662   443042973   443050349   443057674   443065115   443072426   443079751   443087044   443094388   443101696   443109004   443116231   443123468   443130703   443137914   443145164  
424873966   442214219   443027404   443035670   443042981   443050356   443057682   443065123   443072434   443079769   443087051   443094396   443101704   443109012   443116249   443123476   443130711   443137922   443145172  
424874352   442214268   443027412   443035688   443042999   443050364   443057690   443065131   443072442   443079777   443087069   443094404   443101712   443109020   443116256   443123484   443130729   443137930   443145180  
424874998   442215034   443027420   443035696   443043005   443050372   443057708   443065149   443072459   443079785   443087077   443094412   443101720   443109038   443116264   443123492   443130737   443137948   443145206  
424875482   442219929   443027438   443035704   443043013   443050380   443057716   443065156   443072467   443079793   443087085   443094420   443101746   443109046   443116272   443123500   443130745   443137955   443145214  
424876183   442221586   443027446   443035712   443043021   443050398   443057724   443065164   443072475   443079801   443087093   443094438   443101753   443109053   443116280   443123518   443130752   443137963   443145222  
424876209   442221776   443027453   443035720   443043039   443050406   443057732   443065172   443072483   443079819   443087101   443094446   443101761   443109079   443116298   443123526   443130760   443137971   443145230  
424876258   442222758   443027461   443035738   443043047   443050414   443057740   443065180   443072491   443079827   443087119   443094453   443101779   443109087   443116306   443123534   443130778   443137989   443145248  

2010-A Final Cut Legal Schedule of Receivables

 

Sch-A-11


SCHEDULE B

REPRESENTATIONS AND WARRANTIES OF THE SELLER AND THE SERVICER

1. Characteristics of Receivables. Each Receivable (A) was originated (i) by AmeriCredit, (ii) by an Originating Affiliate and was validly assigned by such Originating Affiliate to AmeriCredit, (iii) by a Dealer and purchased by AmeriCredit from such Dealer under an existing Dealer Agreement or pursuant to a Dealer Assignment with AmeriCredit and was validly assigned by such Dealer to AmeriCredit pursuant to a Dealer Assignment or (iv) by a Third-Party Lender and purchased by AmeriCredit from such Third-Party Lender under an existing Auto Loan Purchase and Sale Agreement or pursuant to a Third-Party Lender Assignment with AmeriCredit and was validly assigned by such Third-Party Lender to AmeriCredit pursuant to a Third-Party Lender Assignment (B) was originated by AmeriCredit, such Originating Affiliate, such Dealer or such Third-Party Lender for the retail sale of a Financed Vehicle in the ordinary course of AmeriCredit’s, such Originating Affiliate’s, the Dealer’s or the Third-Party Lender’s business, in each case was originated in accordance with AmeriCredit’s credit policies and was fully and properly executed by the parties thereto, and AmeriCredit, each Originating Affiliate, each Dealer and each Third-Party Lender had all necessary licenses and permits to originate Receivables in the state where AmeriCredit, each such Originating Affiliate, each such Dealer or each such Third-Party Lender was located, (C) contains customary and enforceable provisions such as to render the rights and remedies of the holder thereof adequate for realization against the collateral security, (D) is a Receivable which provides for level monthly payments (provided that the period in the first Collection Period and the payment in the final Collection Period of the Receivable may be minimally different from the normal period and level payment) which, if made when due, shall fully amortize the Amount Financed over the original term and (E) has not been amended or collections with respect to which waived, other than as evidenced in the Receivable File or the Servicer’s electronic records relating thereto.

2. No Fraud or Misrepresentation. Each Receivable was originated (i) by AmeriCredit, (ii) by an Originating Affiliate and was assigned by the Originating Affiliate to AmeriCredit, (iii) by a Dealer and was sold by the Dealer to AmeriCredit or (iv) by a Third-Party Lender and was sold by the Third-Party Lender to AmeriCredit, and was sold by AmeriCredit to the Seller without any fraud or misrepresentation on the part of such Originating Affiliate, Dealer or Third-Party Lender or AmeriCredit in any case.

3. Compliance with Law. All requirements of applicable federal, state and local laws, and regulations thereunder (including, without limitation, usury 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 Moss-Magnuson Warranty Act, the Federal Reserve Board’s Regulations “B” and “Z” (including amendments to the Federal Reserve’s Official Staff Commentary to Regulation Z, effective October 1, 1998, concerning negative equity loans), the Servicemembers Civil Relief Act, each applicable state Motor Vehicle Retail Installment Sales Act, and state adaptations of the National Consumer Act and of the Uniform Consumer Credit Code and other consumer credit laws and equal credit opportunity and disclosure laws) in respect of the Receivables and the Financed Vehicles, have been complied with in all material respects, and each Receivable and the sale of the Financed Vehicle evidenced by each Receivable complied at the time it was originated or made and now complies in all material respects with all applicable legal requirements.

 

Sch-B-1


4. Origination. Each Receivable was originated in the United States.

5. Binding Obligation. Each Receivable represents the genuine, legal, valid and binding payment obligation of the Obligor thereon, enforceable by the holder thereof in accordance with its terms, except (A) as enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting the enforcement of creditors’ rights generally and by equitable limitations on the availability of specific remedies, regardless of whether such enforceability is considered in a proceeding in equity or at law and (B) as such Receivable may be modified by the application after the Cutoff Date of the Servicemembers Civil Relief Act, as amended; and all parties to each Receivable had full legal capacity to execute and deliver such Receivable and all other documents related thereto and to grant the security interest purported to be granted thereby.

6. No Government Obligor. No Obligor is the United States of America or any State or any agency, department, subdivision or instrumentality thereof.

7. Obligor Bankruptcy. At the Cutoff Date no Obligor had been identified on the records of AmeriCredit as being the subject of a current bankruptcy proceeding.

8. Schedule of Receivables. The information set forth in the Schedule of Receivables has been produced from the Electronic Ledger and was true and correct in all material respects as of the close of business on the Cutoff Date.

9. Marking Records. Each of AmeriCredit and the Seller has indicated in its files that the Receivables have been sold to the Issuer pursuant to the Sale and Servicing Agreement and Granted to the Trust Collateral Agent pursuant to the Indenture. Further, AmeriCredit has indicated in its computer files that the Receivables are owned by the Issuer.

10. Computer Tape. The Computer Tape made available by the Seller to the Trust on the Closing Date was complete and accurate as of the Cutoff Date and includes a description of the same Receivables that are described in the Schedule of Receivables.

11. Adverse Selection. No selection procedures adverse to the Noteholders or the Insurer were utilized in selecting the Receivables from those receivables owned by the Seller which met the selection criteria set forth in clauses (A) through (O) of number 30 of this Schedule B.

12. Chattel Paper. The Receivables constitute “tangible chattel paper” or “electronic chattel paper” within the meaning of the UCC as in effect in the States of Texas, New York, Delaware and Nevada.

13. One Original. There is only one original executed copy (or with respect to “electronic chattel paper”, one authoritative copy) of each Contract. With respect to Contracts that are “electronic chattel paper”, each authoritative copy (a) is unique, identifiable and unalterable (other than with the participation of the Trust Collateral Agent in the case of an

 

Sch-B-2


addition or amendment of an identified assignee and other than a revision that is readily identifiable as an authorized or unauthorized revision), (b) has been marked with a legend to the following effect: “Authoritative Copy” and (c) has been communicated to and is maintained by or on behalf of the Custodian.

14. Not an Authoritative Copy. With respect to Contracts that are “electronic chattel paper”, the Seller has marked all copies of each such Contract other than an authoritative copy with a legend to the following effect: “This is not an authoritative copy.”

15. Revisions. With respect to Contracts that are “electronic chattel paper”, the related Receivables have been established in a manner such that (a) all copies or revisions that add or change an identified assignee of the authoritative copy of each such Contract must be made with the participation of the Trust Collateral Agent and (b) all revisions of the authoritative copy of each such Contract are readily identifiable as an authorized or unauthorized revision.

16. Pledge or Assignment. With respect to Contracts that are “electronic chattel paper”, the authoritative copy of each Contract communicated to the Custodian has no marks or notations indicating that it has been pledged, assigned or otherwise conveyed to any Person other than the Trust Collateral Agent.

17. Receivable Files Complete. There exists a Receivable File pertaining to each Receivable and such Receivable File contains the original Lien Certificate or a copy of the application therefor. Related documentation concerning the Receivable, including any documentation regarding modifications of the Contract, will be maintained electronically by the Servicer in accordance with customary policies and procedures. Each of such documents which is required to be signed by the Obligor has been signed by the Obligor in the appropriate spaces. All blanks on any form have been properly filled in and each form has otherwise been correctly prepared. With respect to any Receivables that are tangible chattel paper, the complete Receivable File, including a fully executed original of the Contract, for each Receivable currently is in the possession of the Custodian.

18. Receivables in Force. No Receivable has 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. No terms of any Receivable have been waived, altered or modified in any respect since its origination, except by instruments or documents identified in the Receivable File or the Servicer’s electronic records.

19. Lawful Assignment. No Receivable was originated in, or is subject to the laws of, any jurisdiction the laws of which would make unlawful, void or voidable the sale, transfer and assignment of such Receivable under this Agreement or pursuant to transfers of the Notes.

20. Good Title. Immediately prior to the conveyance of the Receivables to the Trust pursuant to this Agreement, the Seller was the sole owner thereof and had good and indefeasible title thereto, free of any Lien and, upon execution and delivery of this Agreement by the Seller, the Trust shall have good and indefeasible title to and will be the sole owner of such Receivables, free of any Lien. No Dealer or Third-Party Lender has a participation in, or other right to receive, proceeds of any Receivable. The Seller has not taken any action to convey any right to

 

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any Person that would result in such Person having a right to payments received under the related Insurance Policies or the related Dealer Agreements, Auto Loan Purchase and Sale Agreements, Dealer Assignments or Third-Party Lender Assignments or to payments due under such Receivables.

21. Security Interest in Financed Vehicle. Each Receivable created or shall create a valid, binding and enforceable first priority security interest in favor of AmeriCredit (or an Originating Affiliate or a Titled Third-Party Lender which first priority security interest has been assigned to AmeriCredit) in the Financed Vehicle. The Lien Certificate for each Financed Vehicle shows, or if a new or replacement Lien Certificate is being applied for with respect to such Financed Vehicle the Lien Certificate will be received within 180 days of the Closing Date and will show, AmeriCredit (or an Originating Affiliate or a Titled Third-Party Lender) named as the original secured party under each Receivable as the holder of a first priority security interest in such Financed Vehicle. With respect to each Receivable for which the Lien Certificate has not yet been returned from the Registrar of Titles, AmeriCredit or the related Originating Affiliate has applied for or received written evidence from the related Dealer or Third-Party Lender that such Lien Certificate showing AmeriCredit, an Originating Affiliate, the Issuer or a Titled Third-Party Lender, as applicable, as first lienholder has been applied for and the Originating Affiliate’s or Titled Third-Party Lender’s security interest has been validly assigned by the Originating Affiliate or Titled Third-Party Lender, as applicable, to AmeriCredit and AmeriCredit’s security interest (assigned by AmeriCredit to the Seller pursuant to the Purchase Agreement) has been validly assigned by the Seller to the Trust pursuant to this Agreement. This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Receivables in favor of the Trust, which security interest is prior to all other Liens, and is enforceable as such against creditors of and purchasers from the Seller. Immediately after the sale, transfer and assignment by the Seller to the Trust, each Receivable will be secured by an enforceable and perfected first priority security interest in the Financed Vehicle in favor of the Trust Collateral Agent as secured party, which security interest is prior to all other Liens upon and security interests in such Financed Vehicle which now exist or may hereafter arise or be created (except, as to priority, for any lien for taxes, labor or materials affecting a Financed Vehicle). As of the Cutoff Date, there were no Liens or claims for taxes, work, labor or materials affecting a Financed Vehicle which are or may be Liens prior or equal to the Liens of the related Receivable.

22. All Filings Made. All filings (including, without limitation, UCC filings (including, without limitation, the filing by the Seller of all appropriate financing statements in the proper filing office in the State of Nevada under applicable law in order to perfect the security interest in the Receivables granted to the Trust hereunder)) required to be made by any Person and actions required to be taken or performed by any Person in any jurisdiction to give the Trust and the Trust Collateral Agent a first priority perfected lien on, or ownership interest in, the Receivables and the proceeds thereof and the Other Conveyed Property have been made, taken or performed.

23. No Impairment. The Seller has not done anything to convey any right to any Person that would result in such Person having a right to payments due under the Receivables or otherwise to impair the rights of the Issuer, the Insurer, the Trustee, the Trust Collateral Agent and the Noteholders in any Receivable or the proceeds thereof. Other than the security interest

 

Sch-B-4


granted to the Issuer pursuant to this Agreement and except any other security interests that have been fully released and discharged as of the Closing Date, the Seller has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Receivables. The Seller has not authorized the filing of and is not aware of any financing statements against the Seller that include a description of collateral covering the Receivables other than any financing statement relating to the security interest granted to the Trust hereunder or that has been terminated. The Seller is not aware of any judgment or tax lien filings against it.

24. Receivable Not Assumable. No Receivable is assumable by another Person in a manner which would release the Obligor thereof from such Obligor’s obligations to the owner thereof with respect to such Receivable.

25. No Defenses. No Receivable is subject to any right of rescission, setoff, counterclaim or defense and no such right has been asserted or threatened with respect to any Receivable.

26. No Default. There has been no default, breach, violation or event permitting acceleration under the terms of any Receivable (other than payment delinquencies of not more than 30 days), and no condition exists or event has occurred and is continuing that with notice, the lapse of time or both would constitute a default, breach, violation or event permitting acceleration under the terms of any Receivable, and there has been no waiver of any of the foregoing. As of the Cutoff Date, no Financed Vehicle had been repossessed.

27. Insurance. At the time of an origination of a Receivable by AmeriCredit, an Originating Affiliate, a Dealer or Third-Party Lender, each Financed Vehicle is required to be covered by a comprehensive and collision insurance policy (i) in an amount at least equal to the lesser of (a) its maximum insurable value or (b) the principal amount due from the Obligor under the related Receivable, (ii) naming AmeriCredit (or an Originating Affiliate or a Titled Third-Party Lender) as loss payee and (iii) insuring against loss and damage due to fire, theft, transportation, collision and other risks generally covered by comprehensive and collision coverage. Each Receivable requires the Obligor to maintain physical loss and damage insurance, naming AmeriCredit, an Originating Affiliate or a Titled Third-Party Lender and its successors and assigns as additional insured parties, and each Receivable permits the holder thereof to obtain physical loss and damage insurance at the expense of the Obligor if the Obligor fails to do so. No Financed Vehicle is insured under a policy of Force-Placed Insurance on the related Cutoff Date.

28. Past Due. At the Cutoff Date, no Receivable was more than 30 days past due.

29. Remaining Principal Balance. At the Cutoff Date, the Principal Balance of each Receivable set forth in the Schedule of Receivables is true and accurate in all material respects.

30. Certain Characteristics of the Receivables.

(A) Each Receivable had a remaining maturity as of the Cutoff Date of not more than 72 months.

 

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(B) Each Receivable had an original maturity as of the Cutoff Date of not more than 72 months.

(C) Each Receivable had a remaining Principal Balance as of the Cutoff Date of at least $250 and not more than $80,000.

(D) Each Receivable had an Annual Percentage Rate as of the Cutoff Date, of at least 1% and not more than 33%.

(E) No Receivable was more than 30 days past due as of the Cutoff Date.

(F) No funds had been advanced by AmeriCredit, any Originating Affiliate, any Dealer, any Third-Party Lender, or anyone acting on behalf of any of them in order to cause any Receivable to qualify under clause (E) above.

(G) Not more than 35% of the Obligors on the Receivables as of the Cutoff Date resided in Texas and California (based on the Obligor’s mailing address as of the Cutoff Date).

(H) Each Obligor had a billing address in the United States as of the date of origination of the related Receivable, is a natural person and is not an Affiliate of any party to the Basic Documents.

(I) Each Receivable is denominated in, and each Contract provides for payment in, United States dollars.

(J) Each Receivable is identified on the Servicer’s master servicing records as a retail automobile installment sales contract.

(K) Each Receivable arose under a Contract that is assignable without the consent of, or notice to, the Obligor thereunder, and does not contain a confidentiality provision that purports to restrict the ability of the Servicer to exercise its rights under the Sale and Servicing Agreement, including, without limitation, its right to review the Contract.

(L) Each Receivable arose under a Contract that respect to which AmeriCredit has performed all obligations required to be performed by it thereunder, and, in the event such Contract is an installment sales contract, delivery of the Financed Vehicle to the related Obligor has occurred.

(M) Not more than 2% of all Receivables (calculated by Aggregate Principal Balance) which have been transferred to the Issuer shall be “electronic chattel paper”, as such term is defined in the UCC.

(N) No automobile related to a Receivable was held in repossession inventory as of the Cutoff Date.

(O) No Obligor was in bankruptcy as of the Cutoff Date.

 

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31. Interest Calculation. Each Contract provides for the calculation of interest payable thereunder under either the “simple interest” method, the “Rule of 78’s” method or the “precomputed interest” method.

32. Lockbox Account. Each Obligor has been, or will be, directed to make all payments on their related Receivable to the post office box established by the Lockbox Processor pursuant to the Lockbox Processing Agreement for deposit into the Lockbox Account.

33. Lien Enforcement. Each Receivable provides for enforcement of the lien or the clear legal right of repossession, as applicable, on the Financed Vehicle securing such Receivable.

34. Prospectus Supplement Description. Each Receivable conforms, and all Receivables in the aggregate conform, in all material respects to the description thereof set forth in the Prospectus Supplement.

35. Risk of Loss. Each Contract contains provisions requiring the Obligor to assume all risk of loss or malfunction on the related Financed Vehicle, requiring the Obligor to pay all sales, use, property, excise and other similar taxes imposed on or with respect to the Financed Vehicle and making the Obligor liable for all payments required to be made thereunder, without any setoff, counterclaim or defense for any reason whatsoever, subject only to the Obligor’s right of quiet enjoyment.

36. Leasing Business. To the best of the Seller’s and the Servicer’s knowledge, as appropriate, no Obligor is a Person involved in the business of leasing or selling equipment of a type similar to the Obligor’s related Financed Vehicle.

37. Consumer Leases. No Receivable constitutes a “consumer lease” under either (a) the UCC as in effect in the jurisdiction the law of which governs the Receivable or (b) the Consumer Leasing Act, 15 USC 1667.

38. Perfection. The Seller has taken all steps necessary to perfect AmeriCredit’s security interest against the related Obligors in the property securing the Receivables and will take all necessary steps on behalf of the Issuer to maintain the Issuer’s perfection of the security interest created by each Receivable in the related Financed Vehicle.

 

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SCHEDULE C

SERVICING POLICIES AND PROCEDURES

Note: Applicable Time Periods Will Vary by State

Compliance with state collection laws is required of all AmeriCredit Collection Personnel. Additionally, AmeriCredit has chosen to follow the guidelines of the Federal Fair Debt Collection Practices Act (FDCPA).

The Collection Process

AmeriCredit mails each customer a monthly billing statement 16 to 20 days before payment is due.

 

A. All accounts are issued to the Computer Assisted Collection System (CACS) at 5 days delinquent or at such other dates of delinquency as determined by historical payment patterns of the account.

 

B. The CACS segregates accounts into two major groups: loans 5-45 days delinquent and those over 45 days delinquent.

 

C. Loans delinquent up to 45 days are then further segregated into two groups: accounts that have good phone numbers and those that do not.

 

D. Loans up to 45 days delinquent are transferred to AmeriCredit’s predictive dialing system. The system automatically dials the phone number related to a delinquent account for all accounts that have good phone numbers. When a connection is made, the account is then routed to the next available account representative.

 

E. Loans without good phone numbers are called manually, through the CACS system, or in a preview dialer campaign.

 

F. All reasonable collection efforts are made in an attempt to prevent these accounts from becoming 30+ days delinquent – this includes the use of collection letters. Collection letters may be utilized between 5th and 25th days of delinquency.

 

G. When an account reaches 31 days delinquent, a collector determines if any default notification is required in the state where the debtor lives.

 

H. When an account exceeds 45 days delinquent, the loan is assigned to a 46+ collection team which will continue the collection effort until resolution. If the account cannot be resolved through normal collection efforts (i.e., satisfactory payment arrangements) then the account may be submitted for repossession approval. An officer must approve all repossession requests.

 

I. CACS allows each collector to accurately document and update each customer file when contact (verbal or written) is made.

 

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Repossessions

If repossession of the collateral occurs, the following steps are taken:

 

A. Proper authorities are notified (if applicable).

 

B. An inventory of all personal property is taken and a condition report is prepared on the vehicle.

 

C. Written notification, as required by state law, is sent to the customer(s) stating their rights of redemption or reinstatement along with information on how to obtain any personal property that was in the vehicle at the time of repossession.

 

D. Written request to the originating dealer for all refunds due for dealer adds is made.

 

E. Collateral disposition through public or private sale, (dictated by state law), in a commercially reasonable manner, through a third-party auto auction.

 

F. After the collateral is liquidated, the debtor(s) is notified in writing of the deficiency balance owed, if any.

Use of Due Date Changes

Due dates may be changed subject to the following conditions:

 

A. The account is contractually current or will be brought current with the due date change.

 

B. Due date changes cannot exceed the total of 30 days over the life of the contract.

 

C. The first installment payment has been paid in full.

 

D. Only one due date change in a twelve month period.

Any exceptions to the above stated policy must be approved by the appropriate level of authority.

Use of Payment Deferments

A payment deferral is offered to customers who have the desire and capacity to make future payments but who have encountered temporary financial difficulties.

 

A. A minimum of six payments have been made on the account and a minimum of six payments have been made since the most recent deferment (if any).

 

B. The account will be brought current with the deferment.

 

C. A deferment fee is collected on all transactions.

 

D. No more than eight total payments may be deferred over the life of the loan.

 

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Any exceptions to the above stated policy must be approved by the appropriate level of authority.

Charge-Offs

It is AmeriCredit’s policy that any account that is not successfully recovered by 120 days delinquent is submitted to an Officer for approval and charge-off.

It is AmeriCredit’s policy to carry all Chapter 13 bankruptcy accounts until 120 days delinquent. A partial charge-off is taken for the unsecured portion of the account. On fully reaffirmed Chapter 7 bankruptcy accounts, the accounts can be deferred current at the time of discharge.

Deficiency Collections

Collections on charged-off accounts are continued internally and/or assigned to third party collection agencies for deficiency balances.

 

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EXHIBIT A

SERVICER’S CERTIFICATE

 

Ex-A-1


AmeriCredit Automobile Receivables Trust 2010-A

Class A-1 0.31327% Asset Backed Notes

Class A-2 1.46% Asset Backed Notes

Class A-3 3.51% Asset Backed Notes

Servicer’s Certificate

This Servicer’s Certificate has been prepared pursuant to Section 4.9 of the Sale and Servicing Agreement among AmeriCredit Automobile Receivables Trust 2010-A, as Issuer, AmeriCredit Financial Services, Inc., as Servicer, AFS SenSub Corp., as Seller, and Wells Fargo Bank, N.A., as Trust Collateral Agent and Backup Servicer, dated as of March 25, 2010. Defined terms have the meanings assigned to them in the Sale and Servicing Agreement or in other Transaction Documents.

The undersigned hereby certifies that no Trigger Event has occurred on the related Determination Date and that, to the knowledge of the Servicer, no Insurance Agreement Event of Default has occurred.

 

Monthly Period Beginning:

Monthly Period Ending:

Prev. Distribution/Close Date:

Distribution Date:

Days of Interest for Period:

Days in Collection Period:

Seasoning/Months Since Closing:

 

I.

  MONTHLY PERIOD NOTE BALANCE CALCULATION:         Class A-1      Class A-2      Class A-3         TOTAL

   {1}

  Original Note Balance    {1}     

      {2}

  Preliminary End of period Note Balance    {2}     

      {3}

  Deficiency Amount    {3}   

      {4}

  End of period Note Balance    {4}     

      {5}

  Note Pool Factors {4} / {1}    {5}     

 

II.

  RECONCILIATION OF SPREAD ACCOUNT:                              

      {6}

  Preliminary End of period Spread Account balance                   {6}                    

      {7}

  Spread Account Claim Amount from preliminary certificate                   {7}                    

      {8}

  End of period Spread Account balance                   {8}                    

 

III.

  MONTHLY PERIOD AND CUMULATIVE NUMBER OF RECEIVABLES CALCULATION:
                   
                             Cumulative        Monthly

      {9}

  Original Number of Receivables             {9}          

    {10}

  Beginning of period number of Receivables             {10}          

    {11}

  Number of Subsequent Receivables Purchased             {11}          

    {12}

  Number of Receivables becoming Liquidated Receivables during period             {12}          

    {13}

  Number of Receivables becoming Purchased Receivables during period             {13}          

    {14}

  Number of Receivables paid off during period             {14}          

    {15}

  End of period number of Receivables             {15}          
                       

 

IV.

  STATISTICAL DATA: (CURRENT AND HISTORICAL)                              
                   
                        Original        Prev. Month    Current

    {16}

  Weighted Average APR of the Receivables          {16}           

    {17}

  Weighted Average Remaining Term of the Receivables          {17}           

    {18}

  Weighted Average Original Term of Receivables          {18}           

    {19}

  Average Receivable Balance          {19}           

    {20}

  Aggregate Realized Losses          {20}           

    {21}

  ABS Prepay Speed          {21}               
                   

 

V.

  DELINQUENCY:                              
                   
  Receivables with Scheduled Payment delinquent             Units    Dollars    Percentage
      {22} 31-60 days          {22}           
      {23} 61-90 days          {23}           
      {24} over 90 days          {24}           
      {25} Receivables with Scheduled Payment delinquent more than 30 days at end of period          {25}               


   VI.        PERFORMANCE TESTS:
              
         Delinquency Ratio     
           {26}    Receivables and Purchased Receivables with Scheduled Payment delinquent more than 60 days ({23} + {24})    {26}                                
           {27}    Beginning of Period Aggregate Principal Balance    {27}                                
           {28}    Delinquency Ratio {26} divided by {27}    {28}                                
           {29}    Previous Monthly Period Delinquency Ratio    {29}                                
           {30}    Second previous Monthly Period Delinquency Ratio    {30}                                
   
           {31}    Average Delinquency Ratio ({28} + {29} + {30}) / 3    {31}                                
   
           {32}    Compliance (Delinquency Test Failure is a Delinquency Ratio greater than         % )    {32}                                
                    
              
         Cumulative Default Rate     
           {33}    Defaulted Receivables in Current Period    {33}                                
           {34}    Cumulative Defaulted Receivables from last month    {34}                                
           {35}    Cumulative Defaulted Receivables {33} + {34}    {35}                                
           {36}    Original Pool Balance    {36}                                
           {37}    Cumulative Default Rate {35} divided by {36}    {37}                                
   
           {38}    Compliance (Default Test Failure is a Cumulative Default Rate greater than         %.)    {38}                                
                    
              
         Cumulative Net Loss Rate     
           {39}    Receivables becoming Liquidated Receivables during period    {39}                                
           {40}    Purchased Receivables with Scheduled Payment delinquent more than 30 days at end of period    {40}                                
           {41}    Liquidation Proceeds collected during period    {41}                                
           {42}    Net Losses during period {39} + {40} + {41}    {42}                                
           {43}    Net Losses since Initial Cut-off Date (Beginning of Period)    {43}                                
           {44}    Cumulative Net Loss Rate before 50% of 90 Day Delinquencies ({42} + {43}) / {46}    {44}                                
           {45}    50% of Receivables with Scheduled Payment delinquent more than 90 days at end of period    {45}                                
           {46}    Original Pool Balance    {46}                                
           {47}    Cumulative Net Loss Rate ({42} + {43} + {45}) / {46}    {47}                                
   
           {48}    Compliance (Net Loss Test Failure is a Net Loss Rate greater than         %.)    {48}                                
                    
              
         Extension Rate     
           {49}    Principal Balance of Receivables extended during current period    {49}                                
           {50}    Beginning of Period Aggregate Principal Balance    {50}                                
           {51}    Extension Rate {49} divided by {50}    {51}                                
           {52}    Previous Monthly Extension Rate    {52}                                
           {53}    Second previous Monthly Extension Rate    {53}                                
   
           {54}    Average Extension Rate ({51} +{52} +{53}) / 3    {54}                                
   
           {55}    Compliance (Extension Test Failure is an Extension Rate greater than         %.)    {55}                                
                    

 

By:                    

 

Name:               

 

Title:                 

 

Date:                 

 


EXHIBIT B

PRELIMINARY SERVICER’S CERTIFICATE

 

Ex-B-1


AmeriCredit Automobile Receivables Trust 2010-A

Class A-1 0.31327% Asset Backed Notes

Class A-2 1.46% Asset Backed Notes

Class A-3 3.51% Asset Backed Notes

Preliminary Servicer’s Certificate

This Servicer’s Certificate has been prepared pursuant to Section 4.9 of the Sale and Servicing Agreement among AmeriCredit Automobile Receivables Trust 2010-A, as Issuer, AmeriCredit Financial Services, Inc., as Servicer, AFS SenSub Corp., as Seller, and Wells Fargo Bank, N.A., as Trust Collateral Agent and Backup Servicer, dated as of March 25, 2010. Defined terms have the meanings assigned to them in the Sale and Servicing Agreement or in other Transaction Documents.

The undersigned hereby certifies that no Trigger Event has occurred on the related Determination Date and that, to the knowledge of the Servicer, no Insurance Agreement Event of Default has occurred.

 

Monthly Period Beginning:                                   Original
Monthly Period Ending:                       Purchases    Units    Cut-off Date    Closing Date    Pool Balance
Prev. Distribution/Close Date:               Initial Purchase                                  
Distribution Date:                              
Days of Interest for Period:                              
Days in Collection Period:                                    
Seasoning/Months Since Closing:               Total                    

 

I.

  MONTHLY PERIOD RECEIVABLES PRINCIPAL BALANCE CALCULATION:

    {1}

  Beginning of period Aggregate Principal Balance                   {1}                    

    {2}

  Purchase of Subsequent Receivables                   {2}                    
  Monthly Principal Amounts                  
      {3}    Collections on Receivables outstanding at end of period    {3}                       
      {4}    Collections on Receivables paid off during period    {4}                       
      {5}    Receivables becoming Liquidated Receivables during period    {5}                       
      {6}    Receivables becoming Purchased Receivables during period    {6}                       
      {7}    Other Receivables adjustments                {7}                       
      {8}    Less amounts allocable to Interest                {8}                       
      {9}    Total Monthly Principal Amounts                   {9}                    

    {10}

  End of period Aggregate Principal Balance                   {10}                    

    {11}

  Pool Factor ( {10} / Original Pool Balance)                   {11}                    
                   

II.

  MONTHLY PERIOD NOTE BALANCE CALCULATION:    Class A-1            Class A-2   

Class A-3

   TOTAL

 {12}

  Original Note Balance         {12}                    
   

    {13}

  Beginning of period Note Balance       {13}                    
   

    {14}

  Noteholders’ Principal Distributable Amount       {14}              

    {15}

  Noteholders’ Accelerated Principal Amount       {15}              

    {16}

  Accelerated Payment Amount Shortfall       {16}              

    {17}

  Deficiency Claim Amount       {17}                    
   

    {18}

  End of period Note Balance       {18}                    
   

    {19}

  Note Pool Factors ( {18} / {12} )       {19}                    


III.

   RECONCILIATION OF PRE-FUNDING ACCOUNT:               

  {20}

   Beginning of period Pre-Funding Account balance    {20}                       

  {21}

   Purchase of Subsequent Receivables    {21}                       

  {22}

   Investment Earnings    {22}                       

  {23}

   Investment Earnings Transfer to Collections Account    {23}                       

  {24}

   Payment of Mandatory Prepayment Amount    {24}                       

  {25}

   Total Month Activity    {25}                       

  {26}

   End of period Pre-Funding Account balance    {26}                       
           

IV.

   OVERCOLLATERALIZATION AMOUNT CALCULATION               

  {27}

   Current Distribution Date Before September 2011?                          

  {28}

   If {27} is Yes, then Overcollateralization Amount 23%                          

  {29}

   If {27} is No, then refer to the following table         

 

OC Amount    3mo Avg
Delinquency Ratio
   Cumulative
Net Loss Ratio
   Default Ratio    3mo Avg
Extension Ratio
                   

 

  {30}

   Overcollateralization Amount per Table if applicable                          

  {31}

   Overcollateralization Amount                          

 

V.

   CALCULATION OF PRINCIPAL DISTRIBUTABLE AMOUNT               

  {32}

   Total Monthly Principal Amounts    {32}                       

  {33}

   Required Pro-forma Note Balance (the product of 100%-Overcollateralization Amount {32} and the Aggregate Principal Balance {10})    {33}                       

  {34}

   Pro Forma Note Balance ({13} - {9})    {34}                       

  {35}

   Step-down Amount ( {33} - {34} )    {35}                       

  {36}

   Principal Distributable Amount ( {32} - {35} )    {36}                       
           

VI.

   RECONCILIATION OF CAPITALIZED INTEREST ACCOUNT:               

  {37}

   Beginning of period Capitalized Interest Account balance    {37}                       

  {38}

   Monthly Capitalized Interest Amount    {38}                       

  {39}

   Investment Earnings    {39}                       

  {40}

   Investment Earnings Transfer to Collections Account    {40}                       

  {41}

   Payment of Overfunded Capitalized Interest Amount    {41}                       

  {42}

   Payment of Remaining Capitalized Interest Account    {42}                       

  {43}

   Total Month Activity    {43}                       

  {44}

   End of period Capitalized Interest Account balance    {44}                       
           

VII.

   RECONCILIATION OF COLLECTION ACCOUNT:               
   Available Funds:         
  

{45}    Collections on Receivables during period (net of Liquidation Proceeds and Fees)

   {45}                       
  

{46}    Liquidation Proceeds collected during period

   {46}                       
  

{47}    Purchase Amounts deposited in Collection Account

   {47}                       
  

{48}    Investment Earnings - Collection Account

   {48}                       
  

{49}    Investment Earnings - Transfer From Spread Account

   {49}                       
  

{50}    Investment Earnings - Transfer From Prefunding Account

   {50}                       
  

{51}    Investment Earnings - Transfer From Capitalized Interest Account

   {51}                       
  

{52}    Collection of Supplemental Servicing - Extension Fees

   {52}                       
  

{53}    Collection of Supplemental Servicing - Repo and Recovery Fees Advanced

   {53}                       
  

{54}     Late Fees & Prepayment Penalty Fees - to Servicer

   {54}                       
  

{55}    Monthly Capitalized Interest Amount

   {55}                       
  

{56}    Mandatory Note Prepayment Amount

   {56}                       
  

{57}    Deficency Claim

   {57}                       
  

{58}    Total Available Funds

   {58}                       
           
   Distributions:         
  

{59}    Base Servicing Fee - to Servicer

   {59}                       
  

{60}    Repo and Recovery Fees - reimbursed to Servicer

   {60}                       
  

{61}    Bank Service Charges - reimbursed to Servicer

   {61}                       
  

{62}    Late Fees & Prepayment Penalty Fees - to Servicer

   {62}                       
  

{63}    Trustee Administrative Fees and Backup Servicing Fees

   {63}                       
           

Noteholders’ Interest Distributable Amount

                                                                 
     Class    Beginning
Note Balance
   Interest
Carryover
   Interest
Rate
    Days    Days Basis    Calculated
Interest
                                                 

  {64}

   Class A-1          0.31327      Actual days/360            {64}                                

  {65}

   Class A-2          1.46000      30/360            {65}                                

  {66}

   Class A-3              3.51000        30/360            {66}                                
                                                                        

Noteholders’ Principal Distributable Amount

                                                                 
     Class    Principal
Distributable
   Principal
Carryover
   Excess
Principal Due
    Mandatory
Note Prepayment
   Total
Principal
                                                       

  {67}

   Class A-1                          {67}                                

  {68}

   Class A-2                          {68}                                

  {69}

   Class A-3                                      {69}                                

  {70}

   Security Insurer Premiums - to AGM    {70}                       

  {71}

   Total distributions    {71}                       

  {72}

   Excess Available Funds    {72}                       

  {73}

   Any Remaining Amounts owed to AGM under the Insurance Agreement    {73}                       

  {74}

   Deposit to Spread Account to Increase to Required Level    {74}                       

  {75}

   Noteholders’ Accelerated Principal Amount    {75}                       

  {76}

   Deposit to Spread Account    {76}                       


VlII.

   CALCULATION OF ACCELERATED PRINCIPAL AMOUNT         

    {77}

   Excess Available Funds After Amount to Increase Spread to Required Level ({72} - {73} - {74})    {77}                      

    {78}

   Pro-forma Note Balance ({13} - {9})    {78}                      

    {79}

   Required Pro-forma Note Balance (the product of 100%-OC Amount {31} and the Aggregate Principal Bal. {10})    {79}                      

    {80}

   Excess of Pro Forma Balance over Required Balance ({78} - {79})    {80}                      

    {81}

   Accelerated Principal Amount (lesser of {77} or {80})    {81}                       _________
       

IX.

   CALCULATION OF ACCELERATED PAYMENT AMOUNT SHORTFALL         

    {82}

   Pro-forma Note Balance ({13} - {9})    {82}                      

    {83}

   Required Pro-forma Note Balance (the product of 100%-OC Amount {31} and the Aggregate Principal Bal. {10})    {83}                      

    {84}

   Excess of Pro Forma Balance over Required Balance ({82} - {83})    {84}                      

    {85}

   Excess Available Funds After Amount to Increase Spread to Required Level ({71} - {72})    {85}                      

    {86}

   Accelerated Payment Amount Shortfall ({84} - {85})    {86}                       __________

 

X.

   RECONCILIATION OF SPREAD ACCOUNT:                                                                      
          Initial                              Total

    {87}

   Initial or Subsequent Spread Account Deposits                              

 

{88}

   Beginning of period Spread Account balance                      {88}                        __________
                          
   Additions to Spread Account                        
     {89}    Deposits from Collections Account ({74} + {76})                      {89}                       
     {90}    Investment Earnings                   {90}                          
     {91}    Investment Earnings - transferred to Collection Account Available Funds                   {91}                          
     {92}    Investment Earnings remaining                      {92}                       
     {93}    Deposits Related to Subsequent Receivables Purchases or Amendment                      {93}                       
     {94}    Deposit From Other AGM Series Spread Accounts                      {94}                       
     {95}    Total Additions                      {95}                        __________
                          

{96}

   Spread Account balance available for withdrawals                      {96}                        __________
                          
   Requisite Amount of Spread Account                        
               Floor Amount (Calculation Below) =              
  

  {97} (Max of (1.) $100,000 or (2.) Lesser of Note Balance and 2.00% Original Pool Balance)

                     {97}                       
  

  {98} If Trigger Event exists then 2% of Original Pool Balance + 6% of the Aggregate Principal Balance

           {98}                       
  

  {99} If an Insurance Agreement Event of Default exists then the Pool Balance

                     {99}                       
  

  {100}Requisite Amount of Spread Account

                     {100}                        __________
                          
   Withdrawals from Spread Account                        
     {101}    Priority First - Deficiency Claim Amount                      {101}                       
     {102}    Priority Second - Accelerated Payment Amount Shortfall            {102}                       
  

  {103}        - Indmenity payments pro-rata owed by the Servicer to the Trustee, Lockbox Bank, Owner Trustee, Custodian, Backup Servicer, Collateral Agent, Trust Collateral Agent or other service provider.

                     {103}                       
  

  {104}        -Expenses associated with maintaining Security Interest in vehicles

                     {104}                       
     {105}        - Pro rata Total Enhancement Shortfall                      {105}                       
     {106}        - to Certificateholder                      {106}                       
     {107}    Total withdrawals                      {107}                        __________
                          

{108}

   End of period Spread Account balance                      {108}                        __________
                          

XI.

   CALCULATION OF OC LEVEL AND OC PERCENTAGE                                        
  

{109}    AggregatePrincipal Balance

                     {109}                       
  

{110}    Endof period Note Balance

                     {110}                       
  

{111}    Line{109} less line {110} (During Funding Period amount equal to zero)

                     {111}                       
   {112}    OC level {111} / {109}                      {112}                       
  

{113}    EndingSpread Balance as a percentage of Aggregate Principal Balance ({108}/{109})

                     {113}                       
   {114}    OC Percentage ({112} + {113})                      {114}                        __________

 

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Date: