Common use of TABLE OF CONTENTS Clause in Contracts

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions 1 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction 4 SECTION 1.2. Other Definitional Provisions 3 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 4 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 5 SECTION 2.6. Declaration of Trust 5 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 6 SECTION 2.10. Covenants of the Certificateholder 7 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 9 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 11 SECTION 3.7. Maintenance of Office or Agency 11 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 13 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 17 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 18 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trust and Duties 20 SECTION 6.2. Furnishing of Documents 21 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 22 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 24 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 25 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 25 SECTION 7.1. Owner Trustee’s Fees and Expenses 25 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 26 SECTION 7.4. Non-recourse Obligations 26 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 28 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 29 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 32 SECTION 10.4. Notices 32 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 33 SECTION 10.8. No Recourse 33 SECTION 10.9. Headings 33 SECTION 10.10. Force Majeure 34 SECTION 10.11. GOVERNING LAW 34 SECTION 10.12. Servicer 34 SECTION 10.13. Nonpetition Covenants 34 SECTION 10.14. Regulation AB 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 35 SECTION 11.1. Establishment of Trust Accounts 35 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 36 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of July 13, 2022, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power May 20, 2022, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions 1 Section 1.2 Construction 4 Registrable Securities 5 ARTICLE II ORGANIZATION 4 REGISTRATION RIGHTS 5 Section 2.1 Formation 4 Shelf Registration 5 Section 2.2 Name 4 Piggyback Registration 7 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Underwritten Offering 9 Section 2.4 Purposes 4 Sale Procedures 10 Section 2.5 Qualification in Other Jurisdictions 4 Cooperation by Holders 14 Section 2.6 Powers 4 Restrictions on Public Sale by Holders of Registrable Securities 14 Section 2.7 Power of Attorney 5 Expenses 15 Section 2.8 Term 6 Indemnification 15 Section 2.9 Certificate Rule 144 Reporting 18 Section 2.10 Transfer or Assignment of Formation 6 Registration Rights 19 Section 2.11 Limitation on Subsequent Registration Rights 19 Section 2.12 Amendment and Restatement 19 ARTICLE III MEMBERS AND UNITS 6 MISCELLANEOUS 19 Section 3.1 Members 6 Communications 19 Section 3.2 Authorization to Issue Units 7 Successors and Assigns 20 Section 3.3 Certificates 7 Assignment of Rights 20 Section 3.4 Record Holders 7 Recapitalization, Exchanges, Etc. Affecting Units 20 Section 3.5 Registration and Transfer Aggregation of Units 8 Registrable Securities 21 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS Specific Performance 21 Section 3.7 Counterparts 21 Section 3.8 Headings 21 Section 3.9 Governing Law, Submission to Jurisdiction 21 Section 3.10 Waiver of Jury Trial 21 Section 3.11 Severability of Provisions 22 Section 3.12 Entire Agreement 22 Section 3.13 Amendment 22 Section 3.14 No Presumption 22 Section 3.15 Obligations Limited to Parties to Agreement 22 Section 3.16 Interpretation 23 THIS AMENDED AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment RESTATED REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power [·], by and Authority of between ENLINK MIDSTREAM, LLC, a Delaware limited liability company (the Manager 9 Section 5.2 Term “Company”), and Withdrawal of ENFIELD HOLDINGS, L.P., a Delaware limited partnership (the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15“Purchaser”).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction SECTION 1.2. Other Definitional Provisions 4 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 5 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 6 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 7 SECTION 2.10. Covenants of the Certificateholder 8 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 10 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 12 SECTION 3.7. Maintenance of Office or Agency 12 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 13 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 14 SECTION 4.3. Restrictions on Certificateholder’s Power. 14 SECTION 4.4. [Reserved] 15 SECTION 4.5. Action with Respect to Bankruptcy Action 15 SECTION 4.6. Covenants and Restrictions on Conduct of Business 16 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 18 SECTION 5.3. Action upon Instruction 18 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 19 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 20 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trust and Duties 20 SECTION 6.2. Furnishing of Documents 22 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 23 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 24 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 25 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 26 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 26 SECTION 7.1. Owner Trustee’s Fees and Expenses 26 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 27 SECTION 7.4. Non-recourse Obligations 27 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 29 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 30 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 32 SECTION 10.4. Notices 33 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 34 SECTION 10.8. No Recourse 34 SECTION 10.9. Headings 34 SECTION 10.10. GOVERNING LAW 34 SECTION 10.11. Servicer 34 SECTION 10.12. Nonpetition Covenants 35 SECTION 10.13. Regulation AB 35 SECTION 10.14. Force Majeure 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 36 SECTION 11.1. Establishment of Trust Accounts 36 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 37 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of March 16, 2022, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power February 1, 2022, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 AND INCORPORATION BY REFERENCE 2 Section 1.1 Definitions 1 2 Section 1.2 Incorporation by Reference of Trust Indenture Act 2 Section 1.3 Rules of Construction 4 2 ARTICLE II ORGANIZATION 4 THE NOTES 3 Section 2.1 Formation 4 Form 3 Section 2.2 Name Execution, Authentication and Delivery 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Temporary Notes 5 Section 2.4 Purposes 4 Tax Treatment 5 Section 2.5 Qualification in Other Jurisdictions 4 Registration; Registration of Transfer and Exchange 6 Section 2.6 Powers 4 Mutilated, Destroyed, Lost or Stolen Notes 7 Section 2.7 Power of Attorney 5 Persons Deemed Owners 8 Section 2.8 Term 6 Payments 8 Section 2.9 Certificate Cancellation 13 Section 2.10 Release of Formation 6 Collateral 14 Section 2.11 Book-Entry Notes 14 Section 2.12 Notices to Clearing Agency 15 Section 2.13 Definitive Notes 15 Section 2.14 Authenticating Agents 15 Section 2.15 Retained Notes 16 ARTICLE III MEMBERS AND UNITS 6 COVENANTS 20 Section 3.1 Members 6 Payment of Principal and Interest; Determination of SOFR; Benchmark Replacement 20 Section 3.2 Authorization to Issue Units 7 Maintenance of Office or Agency 22 Section 3.3 Certificates 7 Money for Payments To Be Held in Trust 22 Section 3.4 Record Holders 7 Existence 23 Section 3.5 Registration and Transfer Protection of Units 8 Trust Estate 24 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Opinions as to Trust Estate 24 Section 4.1 Distributions 3.7 Performance of Obligations; Servicing of Receivables 25 Section 3.8 Negative Covenants 27 Section 3.9 Annual Statement as to Record Holders 8 Compliance 28 Section 4.2 Payment of Taxes 9 3.10 Issuer May Consolidate, etc., Only on Certain Terms 28 Section 4.3 Absence of Certain 3.11 Successor or Transferee 30 Section 3.12 No Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Business 30 Section 5.1 Power and Authority of the Manager 9 3.13 No Borrowing 30 Section 5.2 Term and Withdrawal of the Manager 11 3.14 Servicer’s Obligations 30 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation3.15 Guarantees, IndemnificationLoans, Advances and Insurance 12 Other Liabilities 30 Section 3.16 Capital Expenditures 31 Section 3.17 Restricted Payments 31 Section 3.18 Notice of Events of Default 31 Section 3.19 Removal of Administrator 31 Section 3.20 Further Instruments and Acts 31 Section 3.21 Sales Finance Company Licenses 31 Section 3.22 Representations and Warranties by the Issuer to the Indenture Trustee 31 ARTICLE IV SATISFACTION AND DISCHARGE 32 Section 4.1 Satisfaction and Discharge of Indenture 32 Section 4.2 Satisfaction, Discharge and Defeasance of the Notes 33 Section 4.3 Application of Trust Money 34 Section 4.4 Repayment of Monies Held by Paying Agent 34 ARTICLE V REMEDIES 34 Section 5.1 Events of Default 34 Section 5.2 Acceleration of Maturity; Rescission and Annulment 35 Section 5.3 Collection of Indebtedness and Suits for Enforcement by Indenture Trustee 36 Section 5.4 Remedies; Priorities 38 Section 5.5 Optional Preservation of the Receivables 41 Section 5.6 Limitation of Suits 42 Section 5.7 Unconditional Rights of Noteholders to Receive Principal and Interest 42 Section 5.8 Restoration of Rights and Remedies 43 Section 5.9 Rights and Remedies Cumulative 43 Section 5.10 Delay or Omission Not a Waiver 43 Section 5.11 Control by Noteholders of the Controlling Class 43 Section 5.12 Waiver of Past Defaults 44 Section 5.13 Undertaking for Costs 44 Section 5.14 Waiver of Stay or Extension Laws 44 Section 5.15 Action on Notes 45 Section 5.16 Performance and Enforcement of Certain Obligations 45 ARTICLE VI THE INDENTURE TRUSTEE 46 Section 6.1 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Indenture Trustee 46 Section 6.2 Fiscal Year 15 Rights of Indenture Trustee 48 Section 6.3 Individual Rights of Indenture Trustee 49 Section 6.4 Indenture Trustee’s Disclaimer 49 Section 6.5 Notice of Defaults 49 Section 6.6 Reports 15by Indenture Trustee to Holders 49 Section 6.7 Compensation and Indemnity 50 Section 6.8 Replacement of Indenture Trustee 51 Section 6.9 Successor Indenture Trustee by ▇▇▇▇▇▇ 51 Section 6.10 Appointment of Co-Indenture Trustee or Separate Indenture Trustee 52 Section 6.11 Eligibility; Disqualification 53 Section 6.12 Preferential Collection of Claims Against Issuer 54 Section 6.13 Communications Regarding Demands to Purchase Receivables 54 ARTICLE VII NOTEHOLDERS’ LISTS AND REPORTS; ASSET REPRESENTATIONS REVIEW 54 Section 7.1 Issuer To Furnish Indenture Trustee Names and Addresses of Noteholders 54 Section 7.2 Preservation of Information; Communications to Noteholders 54 Section 7.3 Reports by Issuer 55 Section 7.4 Reports by Indenture Trustee 55 Section 7.5 Noteholder Communications 55 Section 7.6 Asset Representations Review 56 ARTICLE VIII ACCOUNTS, DISBURSEMENTS AND RELEASES 57 Section 8.1 Collection of Money 57 Section 8.2 Trust Accounts 58 Section 8.3 General Provisions Regarding Accounts 58 Section 8.4 Release of Trust Estate 59 Section 8.5 Opinion of Counsel 60 ARTICLE IX SUPPLEMENTAL INDENTURES 60 Section 9.1 Supplemental Indentures Without Consent of Noteholders 60 Section 9.2 Supplemental Indentures with Consent of Noteholders 61 Section 9.3 Execution of Supplemental Indentures 63 Section 9.4 Effect of Supplemental Indenture 63 Section 9.5 Conformity with Trust Indenture Act 63 Section 9.6 Reference in Notes to Supplemental Indentures 63 ARTICLE X REDEMPTION OF NOTES 63 Section 10.1 Redemption 63 Section 10.2 Form of Redemption Notice 64 Section 10.3 Notes Payable on Redemption Date 64 ARTICLE XI MISCELLANEOUS 65 Section 11.1 Compliance Certificates and Opinions, etc 65 Section 11.2 Form of Documents Delivered to Indenture Trustee 66 Section 11.3 Acts of Noteholders 67 Section 11.4 Notices, etc., to Indenture Trustee, Issuer and Rating Agencies 68 Section 11.5 Notices to Noteholders; Waiver 69 Section 11.6 Alternate Payment and Notice Provisions 69 Section 11.7 Conflict with Trust Indenture Act 69 Section 11.8 Effect of Headings and Table of Contents 70 Section 11.9 Successors and Assigns 70 Section 11.10 Severability 70 Section 11.11 Benefits of Indenture 70 Section 11.12 Legal Holiday 70 Section 11.13 GOVERNING LAW; SUBMISSION TO JURISDICTION; WAIVER OF RIGHT TO JURY TRIAL 70 Section 11.14 Counterparts and Electronic Signature 71 Section 11.15 Recording of Indenture 71 Section 11.16 Trust Obligation 71 Section 11.17 No Petition 72 Section 11.18 Inspection 72 Section 11.19 Third-Party Beneficiaries 72

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 AND INCORPORATION BY REFERENCE 2 Section 1.1 Definitions 1 2 Section 1.2 Incorporation by Reference of Trust Indenture Act 2 Section 1.3 Rules of Construction 4 2 ARTICLE II ORGANIZATION 4 THE NOTES 3 Section 2.1 Formation 4 Form 3 Section 2.2 Name Execution, Authentication and Delivery 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Temporary Notes 5 Section 2.4 Purposes 4 Tax Treatment 5 Section 2.5 Qualification in Other Jurisdictions 4 Registration; Registration of Transfer and Exchange 6 Section 2.6 Powers 4 Mutilated, Destroyed, Lost or Stolen Notes 7 Section 2.7 Power of Attorney 5 Persons Deemed Owners 8 Section 2.8 Term 6 Payments 8 Section 2.9 Certificate Cancellation 13 Section 2.10 Release of Formation 6 Collateral 14 Section 2.11 Book-Entry Notes 14 Section 2.12 Notices to Clearing Agency 15 Section 2.13 Definitive Notes 15 Section 2.14 Authenticating Agents 15 Section 2.15 Retained Notes 16 ARTICLE III MEMBERS AND UNITS 6 COVENANTS 20 Section 3.1 Members 6 Payment of Principal and Interest; Determination of SOFR; Benchmark Replacement 20 Section 3.2 Authorization to Issue Units 7 Maintenance of Office or Agency 22 Section 3.3 Certificates 7 Money for Payments To Be Held in Trust 22 Section 3.4 Record Holders 7 Existence 23 Section 3.5 Registration and Transfer Protection of Units 8 Trust Estate 24 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Opinions as to Trust Estate 24 Section 4.1 Distributions 3.7 Performance of Obligations; Servicing of Receivables 25 Section 3.8 Negative Covenants 27 Section 3.9 Annual Statement as to Record Holders 8 Compliance 28 Section 4.2 Payment of Taxes 9 3.10 Issuer May Consolidate, etc., Only on Certain Terms 28 Section 4.3 Absence of Certain 3.11 Successor or Transferee 30 Section 3.12 No Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Business 30 Section 5.1 Power and Authority of the Manager 9 3.13 No Borrowing 30 Section 5.2 Term and Withdrawal of the Manager 11 3.14 Servicer’s Obligations 30 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation3.15 Guarantees, IndemnificationLoans, Advances and Insurance 12 Other Liabilities 30 Section 3.16 Capital Expenditures 31 Section 3.17 Restricted Payments 31 Section 3.18 Notice of Events of Default 31 Section 3.19 Removal of Administrator 31 Section 3.20 Further Instruments and Acts 31 Section 3.21 Sales Finance Company Licenses 31 Section 3.22 Representations and Warranties by the Issuer to the Indenture Trustee 31 ARTICLE IV SATISFACTION AND DISCHARGE 32 Section 4.1 Satisfaction and Discharge of Indenture 32 Section 4.2 Satisfaction, Discharge and Defeasance of the Notes 33 Section 4.3 Application of Trust Money 34 Section 4.4 Repayment of Monies Held by Paying Agent 34 ARTICLE V REMEDIES 34 Section 5.1 Events of Default 34 Section 5.2 Acceleration of Maturity; Rescission and Annulment 35 Section 5.3 Collection of Indebtedness and Suits for Enforcement by Indenture Trustee 36 Section 5.4 Remedies; Priorities 38 Section 5.5 Optional Preservation of the Receivables 41 Section 5.6 Limitation of Suits 42 Section 5.7 Unconditional Rights of Noteholders to Receive Principal and Interest 42 Section 5.8 Restoration of Rights and Remedies 43 Section 5.9 Rights and Remedies Cumulative 43 Section 5.10 Delay or Omission Not a Waiver 43 Section 5.11 Control by Noteholders of the Controlling Class 43 Section 5.12 Waiver of Past Defaults 44 Section 5.13 Undertaking for Costs 44 Section 5.14 Waiver of Stay or Extension Laws 44 Section 5.15 Action on Notes 45 Section 5.16 Performance and Enforcement of Certain Obligations 45 ARTICLE VI THE INDENTURE TRUSTEE 46 Section 6.1 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Indenture Trustee 46 Section 6.2 Fiscal Year 15 Rights of Indenture Trustee 48 Section 6.3 Individual Rights of Indenture Trustee 49 Section 6.4 Indenture Trustee’s Disclaimer 49 Section 6.5 Notice of Defaults 49 Section 6.6 Reports 15by Indenture Trustee to Holders 49 Section 6.7 Compensation and Indemnity 50 Section 6.8 Replacement of Indenture Trustee 50 Section 6.9 Successor Indenture Trustee by ▇▇▇▇▇▇ 51 Section 6.10 Appointment of Co-Indenture Trustee or Separate Indenture Trustee 52 Section 6.11 Eligibility; Disqualification 53 Section 6.12 Preferential Collection of Claims Against Issuer 54 Section 6.13 Communications Regarding Demands to Purchase Receivables 54 ARTICLE VII NOTEHOLDERS’ LISTS AND REPORTS; ASSET REPRESENTATIONS REVIEW 54 Section 7.1 Issuer To Furnish Indenture Trustee Names and Addresses of Noteholders 54 Section 7.2 Preservation of Information; Communications to Noteholders 54 Section 7.3 Reports by Issuer 55 Section 7.4 Reports by Indenture Trustee 55 Section 7.5 Noteholder Communications 55 Section 7.6 Asset Representations Review 56 ARTICLE VIII ACCOUNTS, DISBURSEMENTS AND RELEASES 57 Section 8.1 Collection of Money 57 Section 8.2 Trust Accounts 58 Section 8.3 General Provisions Regarding Accounts 58 Section 8.4 Release of Trust Estate 59 Section 8.5 Opinion of Counsel 60 ARTICLE IX SUPPLEMENTAL INDENTURES 60 Section 9.1 Supplemental Indentures Without Consent of Noteholders 60 Section 9.2 Supplemental Indentures with Consent of Noteholders 61 Section 9.3 Execution of Supplemental Indentures 63 Section 9.4 Effect of Supplemental Indenture 63 Section 9.5 Conformity with Trust Indenture Act 63 Section 9.6 Reference in Notes to Supplemental Indentures 63 ARTICLE X REDEMPTION OF NOTES 63 Section 10.1 Redemption 63 Section 10.2 Form of Redemption Notice 64 Section 10.3 Notes Payable on Redemption Date 64 ARTICLE XI MISCELLANEOUS 65 Section 11.1 Compliance Certificates and Opinions, etc 65 Section 11.2 Form of Documents Delivered to Indenture Trustee 66 Section 11.3 Acts of Noteholders 67 Section 11.4 Notices, etc., to Indenture Trustee, Issuer and Rating Agencies 68 Section 11.5 Notices to Noteholders; Waiver 69 Section 11.6 Alternate Payment and Notice Provisions 69 Section 11.7 Conflict with Trust Indenture Act 69 Section 11.8 Effect of Headings and Table of Contents 70 Section 11.9 Successors and Assigns 70 Section 11.10 Severability 70 Section 11.11 Benefits of Indenture 70 Section 11.12 Legal Holiday 70 Section 11.13 GOVERNING LAW; SUBMISSION TO JURISDICTION; WAIVER OF RIGHT TO JURY TRIAL 70 Section 11.14 Counterparts and Electronic Signature 71 Section 11.15 Recording of Indenture 71 Section 11.16 Trust Obligation 71 Section 11.17 No Petition 72 Section 11.18 Inspection 72 Section 11.19 Third-Party Beneficiaries 72 Section 11.20 Limitation on Recourse to CarMax Funding 72 Section 11.21 Legal Fees Associated with Indemnification 73 Section 11.22 Limitation of Liability of the Owner Trustee 73 Section 11.23 PATRIOT Act 73 Section 11.24 Beneficial Ownership 74 APPENDIX A Additional Representations and Warranties EXHIBIT A-1 Form of Class A-1 Note EXHIBIT A-2a Form of Class A-2a Note EXHIBIT A-2b Form of Class A-2b Note EXHIBIT A-3 Form of Class A-3 Note EXHIBIT A-4 Form of Class A-4 Note EXHIBIT B Form of Class B Note EXHIBIT C Form of Class C Note EXHIBIT D Form of Class D Note EXHIBIT E Form of Opinion of Counsel EXHIBIT F Form of Transferor Certificate EXHIBIT G Form of Investment Letter INDENTURE, dated as of January 1, 2025 (as amended, supplemented or otherwise modified and in effect from time to time, this “Indenture”), between CARMAX AUTO OWNER TRUST 2025-1, a Delaware statutory trust (the “Issuer”), and WILMINGTON TRUST, NATIONAL ASSOCIATION, a national banking association, not in its individual capacity but solely as indenture trustee (in such capacity, the “Indenture Trustee”). Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the holders of the Issuer’s 4.408% Class A-1 Asset-backed Notes (the “Class A-1 Notes”), 4.63% Class A-2a Asset-backed Notes (the “Class A-2a Notes”), Class A-2b Floating Rate Asset-backed Notes (the “Class A-2b Notes” and together with the Class A-2a Notes, the “Class A-2 Notes”), 4.84% Class A-3 Asset-backed Notes (the “Class A-3 Notes”), 4.95% Class A-4 Asset-backed Notes (the “Class A-4 Notes” and, collectively with the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes, the “Class A Notes”), 5.11% Class B Asset-backed Notes (the “Class B Notes”), 5.26% Class C Asset-backed Notes (the “Class C Notes”) and 5.60% Class D Asset-backed Notes (the “Class D Notes” and, collectively with the Class A Notes, the Class B Notes and the Class C Notes, the “Notes”): The Issuer hereby Grants to the Indenture Trustee on the Closing Date, as Indenture Trustee for the benefit of the Holders of the Notes, all of the Issuer’s right, title and interest in, to and under, whether now owned or existing or hereafter acquired or arising (i) the Receivables; (ii) all amounts received on or in respect of the Receivables after the Cutoff Date; (iii) the security interests in the Financed Vehicles granted by the Obligors pursuant to the Receivables and any other interest of the Issuer in such Financed Vehicles; (iv) all proceeds from claims on or refunds of premiums with respect to any physical damage, theft, GAP, credit life or credit disability insurance policies relating to the Financed Vehicles or the Obligors; (v) the Receivable Files; (vi) the Collection Account, the Note Payment Account and the Reserve Account and all amounts, securities, financial assets, investments and other property deposited in or credited to any of the foregoing and all proceeds thereof; (vii) all rights of the Depositor under the Receivables Purchase Agreement, including the right to require the Seller to repurchase Receivables from the Depositor; (viii) all rights of the Issuer under the Sale and Servicing Agreement, including the right to require the Servicer to purchase Receivables from the Issuer; (ix) the right to realize upon any property (including the right to receive future Liquidation Proceeds) that shall have secured a Receivable and have been repossessed by or on behalf of the Issuer; and (x) all present and future claims, demands, causes of action and choses in action in respect of any or all of the foregoing and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all of the foregoing, including all proceeds of the conversion thereof, voluntary or involuntary, into cash or other liquid property; all accounts, general intangibles, chattel paper, instruments, documents, money, investment property, deposit accounts, letters of credit, letter-of-credit rights, insurance proceeds, condemnation awards, rights to payment of any and every kind and other forms of obligations; and all other property which at any time constitutes all or part of or is included in the proceeds of any of the foregoing (collectively, the “Collateral”). The foregoing Grant is made in trust to secure the payment of principal of and interest on, and any other amounts owing in respect of, the Notes, equally and ratably without prejudice, priority or distinction, and to secure compliance with the provisions of this Indenture, all as provided in this Indenture. The Indenture Trustee, as Indenture Trustee on behalf of the Holders of the Notes, acknowledges such ▇▇▇▇▇, accepts the trusts under this Indenture in accordance with the provisions of this Indenture and agrees to perform its duties required in this Indenture to the best of its ability to the end that the interests of the Holders of the Notes may be adequately and effectively protected.

TABLE OF CONTENTS. ARTICLE I I. DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction SECTION 1.2. Other Definitional Provisions 4 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 5 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 6 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 7 SECTION 2.10. Covenants of the Certificateholder 8 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 10 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 12 SECTION 3.7. Maintenance of Office or Agency 12 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 14 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 18 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 19 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 20 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trust and Duties 20 SECTION 6.2. Furnishing of Documents 22 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 23 SECTION 6.5. Not Acting in Individual Capacity 24 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 24 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 25 SECTION 6.10. FATCA Information 25 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 26 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 26 SECTION 7.1. Owner Trustee’s Fees and Expenses 26 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 27 SECTION 7.4. Non-recourse Obligations 27 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 29 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 30 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 33 SECTION 10.4. Notices 33 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 34 SECTION 10.8. No Recourse 34 SECTION 10.9. Headings 34 SECTION 10.10. Force Majeure 34 SECTION 10.11. GOVERNING LAW 34 SECTION 10.12. Servicer 35 SECTION 10.13. Nonpetition Covenants 35 SECTION 10.14. Regulation AB 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 36 SECTION 11.1. Establishment of Trust Accounts 36 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 37 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of July 19, 2023, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power May 23, 2023, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of Owner Trustee (the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15“Initial Trust Agreement”).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction 4 SECTION 1.2. Other Definitional Provisions 3 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 4 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 5 SECTION 2.6. Declaration of Trust 5 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 6 SECTION 2.10. Covenants of the Certificateholder 7 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 9 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 11 SECTION 3.7. Maintenance of Office or Agency 11 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 13 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 16 SECTION 5.1. General Authority 16 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 17 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 18 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trusts and Duties 20 SECTION 6.2. Furnishing of Documents 21 SECTION 6.3. Representations and Warranties 21 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 22 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 24 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 24 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 Trust 25 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 25 SECTION 7.1. Owner Trustee’s Fees and Expenses 25 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 26 SECTION 7.4. Non-recourse Obligations 26 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 26 SECTION 8.1. Termination of Trust Agreement 26 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 28 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 29 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 29 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 32 SECTION 10.4. Notices 32 SECTION 10.5. Severability 32 SECTION 10.6. Separate Counterparts 33 SECTION 10.7. Assignments 33 SECTION 10.8. No Recourse 33 SECTION 10.9. Headings 33 SECTION 10.10. GOVERNING LAW 33 SECTION 10.11. Servicer 33 SECTION 10.12. Nonpetition Covenants 34 SECTION 10.13. Regulation AB 34 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 35 SECTION 11.1. Establishment of Trust Accounts 35 SECTION 11.2. Application of Trust Funds 35 SECTION 11.3. Method of Payment 36 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of October 16, 2019, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power August 29, 2019, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE Article I DEFINITIONS 1 AND INCORPORATION BY REFERENCE 2 Section 1.1 Definitions 1 2 Section 1.2 Incorporation by Reference of Trust Indenture Act 2 Section 1.3 Rules of Construction 4 ARTICLE 2 Article II ORGANIZATION 4 THE NOTES 3 Section 2.1 Formation 4 Form 3 Section 2.2 Name Execution, Authentication and Delivery 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Temporary Notes 5 Section 2.4 Purposes 4 Tax Treatment 5 Section 2.5 Qualification in Other Jurisdictions 4 Registration; Registration of Transfer and Exchange 6 Section 2.6 Powers 4 Mutilated, Destroyed, Lost or Stolen Notes 7 Section 2.7 Power of Attorney 5 Persons Deemed Owners 8 Section 2.8 Term 6 Payments 8 Section 2.9 Certificate Cancellation 13 Section 2.10 Release of Formation 6 ARTICLE Collateral 14 Section 2.11 Book-Entry Notes 14 Section 2.12 Notices to Clearing Agency 15 Section 2.13 Definitive Notes 15 Section 2.14 Authenticating Agents 15 Section 2.15 Retained Notes 16 Article III MEMBERS AND UNITS 6 COVENANTS 20 Section 3.1 Members 6 Payment of Principal and Interest; Determination of SOFR; Benchmark Replacement 20 Section 3.2 Authorization to Issue Units 7 Maintenance of Office or Agency 22 Section 3.3 Certificates 7 Money for Payments To Be Held in Trust 22 Section 3.4 Record Holders 7 Existence 23 Section 3.5 Registration and Transfer Protection of Units 8 Trust Estate 24 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Opinions as to Trust Estate 24 Section 4.1 Distributions 3.7 Performance of Obligations; Servicing of Receivables 25 Section 3.8 Negative Covenants 27 Section 3.9 Annual Statement as to Record Holders 8 Compliance 28 Section 4.2 Payment of Taxes 9 3.10 Issuer May Consolidate, etc., Only on Certain Terms 28 Section 4.3 Absence of Certain 3.11 Successor or Transferee 30 Section 3.12 No Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Business 30 Section 5.1 Power and Authority of the Manager 9 3.13 No Borrowing 30 Section 5.2 Term and Withdrawal of the Manager 11 3.14 Servicer’s Obligations 30 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation3.15 Guarantees, IndemnificationLoans, Advances and Insurance 12 Other Liabilities 30 Section 3.16 Capital Expenditures 31 Section 3.17 Restricted Payments 31 Section 3.18 Notice of Events of Default 31 Section 3.19 Removal of Administrator 31 Section 3.20 Further Instruments and Acts 31 Section 3.21 Sales Finance Company Licenses 31 Section 3.22 Representations and Warranties by the Issuer to the Indenture Trustee 31 Article IV SATISFACTION AND DISCHARGE 32 Section 4.1 Satisfaction and Discharge of Indenture 32 Section 4.2 Satisfaction, Discharge and Defeasance of the Notes 33 Section 4.3 Application of Trust Money 34 Section 4.4 Repayment of Monies Held by Paying Agent 34 Article V REMEDIES 34 Section 5.1 Events of Default 34 Section 5.2 Acceleration of Maturity; Rescission and Annulment 35 Section 5.3 Collection of Indebtedness and Suits for Enforcement by Indenture Trustee 36 Section 5.4 Remedies; Priorities 38 Section 5.5 Optional Preservation of the Receivables 41 Section 5.6 Limitation of Suits 42 Section 5.7 Unconditional Rights of Noteholders to Receive Principal and Interest 42 Section 5.8 Restoration of Rights and Remedies 43 Section 5.9 Rights and Remedies Cumulative 43 Section 5.10 Delay or Omission Not a Waiver 43 Section 5.11 Control by Noteholders of the Controlling Class 43 Section 5.12 Waiver of Past Defaults 44 Section 5.13 Undertaking for Costs 44 Section 5.14 Waiver of Stay or Extension Laws 44 Section 5.15 Action on Notes 45 Section 5.16 Performance and Enforcement of Certain Obligations 45 Article VI THE INDENTURE TRUSTEE 46 Section 6.1 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Indenture Trustee 46 Section 6.2 Fiscal Year 15 Rights of Indenture Trustee 48 Section 6.3 Individual Rights of Indenture Trustee 49 Section 6.4 Indenture Trustee’s Disclaimer 49 Section 6.5 Notice of Defaults 49 Section 6.6 Reports 15by Indenture Trustee to Holders 49 Section 6.7 Compensation and Indemnity 50 Section 6.8 Replacement of Indenture Trustee 50 Section 6.9 Successor Indenture Trustee by ▇▇▇▇▇▇ 51 Section 6.10 Appointment of Co-Indenture Trustee or Separate Indenture Trustee 52 Section 6.11 Eligibility; Disqualification 53 Section 6.12 Preferential Collection of Claims Against Issuer 54 Section 6.13 Communications Regarding Demands to Purchase Receivables 54 Article VII NOTEHOLDERS’ LISTS AND REPORTS; ASSET REPRESENTATIONS REVIEW 54 Section 7.1 Issuer To Furnish Indenture Trustee Names and Addresses of Noteholders 54 Section 7.2 Preservation of Information; Communications to Noteholders 54 Section 7.3 Reports by Issuer 55 Section 7.4 Reports by Indenture Trustee 55 Section 7.5 Noteholder Communications 55 Section 7.6 Asset Representations Review 56 Article VIII ACCOUNTS, DISBURSEMENTS AND RELEASES 57 Section 8.1 Collection of Money 57 Section 8.2 Trust Accounts 58 Section 8.3 General Provisions Regarding Accounts 58 Section 8.4 Release of Trust Estate 59 Section 8.5 Opinion of Counsel 60 Article IX SUPPLEMENTAL INDENTURES 60 Section 9.1 Supplemental Indentures Without Consent of Noteholders 60 Section 9.2 Supplemental Indentures with Consent of Noteholders 61 Section 9.3 Execution of Supplemental Indentures 63 Section 9.4 Effect of Supplemental Indenture 63 Section 9.5 Conformity with Trust Indenture Act 63 Section 9.6 Reference in Notes to Supplemental Indentures 63 Article X REDEMPTION OF NOTES 63 Section 10.1 Redemption 63 Section 10.2 Form of Redemption Notice 64 Section 10.3 Notes Payable on Redemption Date 64 Article XI MISCELLANEOUS 65 Section 11.1 Compliance Certificates and Opinions, etc 65 Section 11.2 Form of Documents Delivered to Indenture Trustee 66 Section 11.3 Acts of Noteholders 67 Section 11.4 Notices, etc., to Indenture Trustee, Issuer and Rating Agencies 68 Section 11.5 Notices to Noteholders; Waiver 69 Section 11.6 Alternate Payment and Notice Provisions 69 Section 11.7 Conflict with Trust Indenture Act 69 Section 11.8 Effect of Headings and Table of Contents 70 Section 11.9 Successors and Assigns 70 Section 11.10 Severability 70 Section 11.11 Benefits of Indenture 70 Section 11.12 Legal Holiday 70 Section 11.13 GOVERNING LAW; SUBMISSION TO JURISDICTION; WAIVER OF RIGHT TO JURY TRIAL 70 Section 11.14 Counterparts and Electronic Signature 71 Section 11.15 Recording of Indenture 71 Section 11.16 Trust Obligation 71 Section 11.17 No Petition 72 Section 11.18 Inspection 72 Section 11.19 Third-Party Beneficiaries 72 Section 11.20 Limitation on Recourse to CarMax Funding 72 Section 11.21 Legal Fees Associated with Indemnification 73 Section 11.22 Limitation of Liability of the Owner Trustee 73 Section 11.23 PATRIOT Act 73 Section 11.24 Beneficial Ownership 73 APPENDIX A Additional Representations and Warranties EXHIBIT A-1 Form of Class A-1 Note EXHIBIT A-2a Form of Class A-2a Note EXHIBIT A-2b Form of Class A-2b Note EXHIBIT A-3 Form of Class A-3 Note EXHIBIT A-4 Form of Class A-4 Note EXHIBIT B Form of Class B Note EXHIBIT C Form of Class C Note EXHIBIT D Form of Class D Note EXHIBIT E Form of Opinion of Counsel EXHIBIT F Form of Transferor Certificate EXHIBIT G Form of Investment Letter INDENTURE, dated as of July 1, 2023 (as amended, supplemented or otherwise modified and in effect from time to time, this “Indenture”), between CARMAX AUTO OWNER TRUST 2023-3, a Delaware statutory trust (the “Issuer”), and WILMINGTON TRUST, NATIONAL ASSOCIATION, a national banking association, not in its individual capacity but solely as indenture trustee (in such capacity, the “Indenture Trustee”). Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the holders of the Issuer’s 5.631% Class A-1 Asset-backed Notes (the “Class A-1 Notes”), 5.72% Class A-2a Asset-backed Notes (the “Class A-2a Notes”), Class A-2b Floating Rate Asset-backed Notes (the “Class A-2b Notes” and together with the Class A-2a Notes, the “Class A-2 Notes”), 5.28% Class A-3 Asset-backed Notes (the “Class A-3 Notes”), 5.26% Class A-4 Asset-backed Notes (the “Class A-4 Notes” and, collectively with the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes, the “Class A Notes”), 5.47% Class B Asset-backed Notes (the “Class B Notes”), 5.61% Class C Asset-backed Notes (the “Class C Notes”) and 6.44% Class D Asset-backed Notes (the “Class D Notes” and, collectively with the Class A Notes, the Class B Notes and the Class C Notes, the “Notes”): The Issuer hereby Grants to the Indenture Trustee on the Closing Date, as Indenture Trustee for the benefit of the Holders of the Notes, all of the Issuer’s right, title and interest in, to and under, whether now owned or existing or hereafter acquired or arising (i) the Receivables; (ii) all amounts received on or in respect of the Receivables after the Cutoff Date; (iii) the security interests in the Financed Vehicles granted by the Obligors pursuant to the Receivables and any other interest of the Issuer in such Financed Vehicles; (iv) all proceeds from claims on or refunds of premiums with respect to any physical damage, theft, GAP, credit life or credit disability insurance policies relating to the Financed Vehicles or the Obligors; (v) the Receivable Files; (vi) the Collection Account, the Note Payment Account and the Reserve Account and all amounts, securities, financial assets, investments and other property deposited in or credited to any of the foregoing and all proceeds thereof; (vii) all rights of the Depositor under the Receivables Purchase Agreement, including the right to require the Seller to repurchase Receivables from the Depositor; (viii) all rights of the Issuer under the Sale and Servicing Agreement, including the right to require the Servicer to purchase Receivables from the Issuer; (ix) the right to realize upon any property (including the right to receive future Liquidation Proceeds) that shall have secured a Receivable and have been repossessed by or on behalf of the Issuer; and (x) all present and future claims, demands, causes of action and choses in action in respect of any or all of the foregoing and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all of the foregoing, including all proceeds of the conversion thereof, voluntary or involuntary, into cash or other liquid property; all accounts, general intangibles, chattel paper, instruments, documents, money, investment property, deposit accounts, letters of credit, letter-of-credit rights, insurance proceeds, condemnation awards, rights to payment of any and every kind and other forms of obligations; and all other property which at any time constitutes all or part of or is included in the proceeds of any of the foregoing (collectively, the “Collateral”). The foregoing Grant is made in trust to secure the payment of principal of and interest on, and any other amounts owing in respect of, the Notes, equally and ratably without prejudice, priority or distinction, and to secure compliance with the provisions of this Indenture, all as provided in this Indenture. The Indenture Trustee, as Indenture Trustee on behalf of the Holders of the Notes, acknowledges such ▇▇▇▇▇, accepts the trusts under this Indenture in accordance with the provisions of this Indenture and agrees to perform its duties required in this Indenture to the best of its ability to the end that the interests of the Holders of the Notes may be adequately and effectively protected.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 AND INCORPORATION BY REFERENCE 2 Section 1.1 Definitions 1 2 Section 1.2 Incorporation by Reference of Trust Indenture Act 2 Section 1.3 Rules of Construction 4 2 ARTICLE II ORGANIZATION THE NOTES 4 Section 2.1 Formation Form 4 Section 2.2 Name Execution, Authentication and Delivery 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Temporary Notes 5 Section 2.4 Purposes 4 Tax Treatment 5 Section 2.5 Qualification in Other Jurisdictions 4 Registration; Registration of Transfer and Exchange 6 Section 2.6 Powers 4 Mutilated, Destroyed, Lost or Stolen Notes 7 Section 2.7 Power of Attorney 5 Persons Deemed Owners 8 Section 2.8 Term 6 Payments 8 Section 2.9 Certificate Cancellation 13 Section 2.10 Release of Formation 6 Collateral 14 Section 2.11 Book-Entry Notes 14 Section 2.12 Notices to Clearing Agency 15 Section 2.13 Definitive Notes 15 Section 2.14 Authenticating Agents 15 Section 2.15 Retained Notes 16 ARTICLE III MEMBERS AND UNITS 6 COVENANTS 20 Section 3.1 Members 6 Payment of Principal and Interest; Determination of SOFR; Benchmark Replacement 20 Section 3.2 Authorization to Issue Units 7 Maintenance of Office or Agency 22 Section 3.3 Certificates 7 Money for Payments To Be Held in Trust 22 Section 3.4 Record Holders 7 Existence 23 Section 3.5 Registration and Transfer Protection of Units 8 Trust Estate 24 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Opinions as to Trust Estate 24 Section 4.1 Distributions 3.7 Performance of Obligations; Servicing of Receivables 25 Section 3.8 Negative Covenants 27 Section 3.9 Annual Statement as to Record Holders 8 Compliance 28 Section 4.2 Payment of Taxes 9 3.10 Issuer May Consolidate, etc., Only on Certain Terms 28 Section 4.3 Absence of Certain 3.11 Successor or Transferee 30 Section 3.12 No Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Business 30 Section 5.1 Power and Authority of the Manager 9 3.13 No Borrowing 30 Section 5.2 Term and Withdrawal of the Manager 11 3.14 Servicer’s Obligations 30 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation3.15 Guarantees, IndemnificationLoans, Advances and Insurance 12 Other Liabilities 30 Section 3.16 Capital Expenditures 31 Section 3.17 Restricted Payments 31 Section 3.18 Notice of Events of Default 31 Section 3.19 Removal of Administrator 31 Section 3.20 Further Instruments and Acts 31 Section 3.21 Sales Finance Company Licenses 31 Section 3.22 Representations and Warranties by the Issuer to the Indenture Trustee 31 ARTICLE IV SATISFACTION AND DISCHARGE 32 Section 4.1 Satisfaction and Discharge of Indenture 32 Section 4.2 Satisfaction, Discharge and Defeasance of the Notes 33 Section 4.3 Application of Trust Money 34 Section 4.4 Repayment of Monies Held by Paying Agent 34 ARTICLE V REMEDIES 34 Section 5.1 Events of Default 34 Section 5.2 Acceleration of Maturity; Rescission and Annulment 35 Section 5.3 Collection of Indebtedness and Suits for Enforcement by Indenture Trustee 36 Section 5.4 Remedies; Priorities. 38 Section 5.5 Optional Preservation of the Receivables 41 Section 5.6 Limitation of Suits 42 Section 5.7 Unconditional Rights of Noteholders to Receive Principal and Interest 42 Section 5.8 Restoration of Rights and Remedies 43 Section 5.9 Rights and Remedies Cumulative 43 Section 5.10 Delay or Omission Not a Waiver 43 Section 5.11 Control by Noteholders of the Controlling Class 43 Section 5.12 Waiver of Past Defaults 44 Section 5.13 Undertaking for Costs 44 Section 5.14 Waiver of Stay or Extension Laws 44 Section 5.15 Action on Notes 45 Section 5.16 Performance and Enforcement of Certain Obligations 45 ARTICLE VI THE INDENTURE TRUSTEE 46 Section 6.1 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Indenture Trustee 46 Section 6.2 Fiscal Year 15 Rights of Indenture Trustee 48 Section 6.3 Individual Rights of Indenture Trustee 49 Section 6.4 Indenture Trustee’s Disclaimer 49 Section 6.5 Notice of Defaults 49 Section 6.6 Reports 15by Indenture Trustee to Holders 49 Section 6.7 Compensation and Indemnity 50 Section 6.8 Replacement of Indenture Trustee 50 Section 6.9 Successor Indenture Trustee by ▇▇▇▇▇▇ 51 Section 6.10 Appointment of Co-Indenture Trustee or Separate Indenture Trustee 52 Section 6.11 Eligibility; Disqualification 53 Section 6.12 Preferential Collection of Claims Against Issuer 54 Section 6.13 Communications Regarding Demands to Purchase Receivables 54 ARTICLE VII NOTEHOLDERS’ LISTS AND REPORTS; ASSET REPRESENTATIONS REVIEW 54 Section 7.1 Issuer To Furnish Indenture Trustee Names and Addresses of Noteholders 54 Section 7.2 Preservation of Information; Communications to Noteholders 54 Section 7.3 Reports by Issuer 55 Section 7.4 Reports by Indenture Trustee 55 Section 7.5 Noteholder Communications 55 Section 7.6 Asset Representations Review 56 ARTICLE VIII ACCOUNTS, DISBURSEMENTS AND RELEASES 57 Section 8.1 Collection of Money 57 Section 8.2 Trust Accounts 58 Section 8.3 General Provisions Regarding Accounts 58 Section 8.4 Release of Trust Estate 59 Section 8.5 Opinion of Counsel 60 ARTICLE IX SUPPLEMENTAL INDENTURES 60 Section 9.1 Supplemental Indentures Without Consent of Noteholders 60 Section 9.2 Supplemental Indentures with Consent of Noteholders 61 Section 9.3 Execution of Supplemental Indentures 63 Section 9.4 Effect of Supplemental Indenture 63 Section 9.5 Conformity with Trust Indenture Act 63 Section 9.6 Reference in Notes to Supplemental Indentures 63 ARTICLE X REDEMPTION OF NOTES 63 Section 10.1 Redemption 63 Section 10.2 Form of Redemption Notice 64 Section 10.3 Notes Payable on Redemption Date 64 ARTICLE XI MISCELLANEOUS 65 Section 11.1 Compliance Certificates and Opinions, etc 65 Section 11.2 Form of Documents Delivered to Indenture Trustee 66 Section 11.3 Acts of Noteholders 67 Section 11.4 Notices, etc., to Indenture Trustee, Issuer and Rating Agencies 68 Section 11.5 Notices to Noteholders; Waiver 69 Section 11.6 Alternate Payment and Notice Provisions 69 Section 11.7 Conflict with Trust Indenture Act 69 Section 11.8 Effect of Headings and Table of Contents 70 Section 11.9 Successors and Assigns 70 Section 11.10 Severability 70 Section 11.11 Benefits of Indenture 70 Section 11.12 Legal Holiday 70 Section 11.13 GOVERNING LAW; SUBMISSION TO JURISDICTION; WAIVER OF RIGHT TO JURY TRIAL 70 Section 11.14 Counterparts and Electronic Signature 71 Section 11.15 Recording of Indenture 71 Section 11.16 Trust Obligation 71 Section 11.17 No Petition 72 Section 11.18 Inspection 72 Section 11.19 Third-Party Beneficiaries 72

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 AND INCORPORATION BY REFERENCE 2 Section 1.1 Definitions 1 2 Section 1.2 Incorporation by Reference of Trust Indenture Act 2 Section 1.3 Rules of Construction 4 2 ARTICLE II ORGANIZATION THE NOTES 4 Section 2.1 Formation Form 4 Section 2.2 Name Execution, Authentication and Delivery 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Temporary Notes 5 Section 2.4 Purposes 4 Tax Treatment 5 Section 2.5 Qualification in Other Jurisdictions 4 Registration; Registration of Transfer and Exchange 6 Section 2.6 Powers 4 Mutilated, Destroyed, Lost or Stolen Notes 7 Section 2.7 Power of Attorney 5 Persons Deemed Owners 8 Section 2.8 Term 6 Payments 8 Section 2.9 Certificate Cancellation 13 Section 2.10 Release of Formation 6 Collateral 14 Section 2.11 Book-Entry Notes 14 Section 2.12 Notices to Clearing Agency 15 Section 2.13 Definitive Notes 15 Section 2.14 Authenticating Agents 15 Section 2.15 Retained Notes 16 ARTICLE III MEMBERS AND UNITS 6 COVENANTS 20 Section 3.1 Members 6 Payment of Principal and Interest; Determination of SOFR; Benchmark Replacement 20 Section 3.2 Authorization to Issue Units 7 Maintenance of Office or Agency 22 Section 3.3 Certificates 7 Money for Payments To Be Held in Trust 22 Section 3.4 Record Holders 7 Existence 23 Section 3.5 Registration and Transfer Protection of Units 8 Trust Estate 24 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Opinions as to Trust Estate 24 Section 4.1 Distributions 3.7 Performance of Obligations; Servicing of Receivables 25 Section 3.8 Negative Covenants 27 Section 3.9 Annual Statement as to Record Holders 8 Compliance 28 Section 4.2 Payment of Taxes 9 3.10 Issuer May Consolidate, etc., Only on Certain Terms 28 Section 4.3 Absence of Certain 3.11 Successor or Transferee 30 Section 3.12 No Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Business 30 Section 5.1 Power and Authority of the Manager 9 3.13 No Borrowing 30 Section 5.2 Term and Withdrawal of the Manager 11 3.14 Servicer’s Obligations 30 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation3.15 Guarantees, IndemnificationLoans, Advances and Insurance 12 Other Liabilities 30 Section 3.16 Capital Expenditures 31 Section 3.17 Restricted Payments 31 Section 3.18 Notice of Events of Default 31 Section 3.19 Removal of Administrator 31 Section 3.20 Further Instruments and Acts 31 Section 3.21 Sales Finance Company Licenses 31 Section 3.22 Representations and Warranties by the Issuer to the Indenture Trustee 31 ARTICLE IV SATISFACTION AND DISCHARGE 32 Section 4.1 Satisfaction and Discharge of Indenture 32 Section 4.2 Satisfaction, Discharge and Defeasance of the Notes 32 Section 4.3 Application of Trust Money 34 Section 4.4 Repayment of Monies Held by Paying Agent 34 ARTICLE V REMEDIES 34 Section 5.1 Events of Default 34 Section 5.2 Acceleration of Maturity; Rescission and Annulment 35 Section 5.3 Collection of Indebtedness and Suits for Enforcement by Indenture Trustee 36 Section 5.4 Remedies; Priorities 38 Section 5.5 Optional Preservation of the Receivables 41 Section 5.6 Limitation of Suits 42 Section 5.7 Unconditional Rights of Noteholders to Receive Principal and Interest 42 Section 5.8 Restoration of Rights and Remedies 43 Section 5.9 Rights and Remedies Cumulative 43 Section 5.10 Delay or Omission Not a Waiver 43 Section 5.11 Control by Noteholders of the Controlling Class 43 Section 5.12 Waiver of Past Defaults 44 Section 5.13 Undertaking for Costs 44 Section 5.14 Waiver of Stay or Extension Laws 44 Section 5.15 Action on Notes 45 Section 5.16 Performance and Enforcement of Certain Obligations 45 ARTICLE VI THE INDENTURE TRUSTEE 46 Section 6.1 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Indenture Trustee 46 Section 6.2 Fiscal Year 15 Rights of Indenture Trustee 48 Section 6.3 Individual Rights of Indenture Trustee 49 Section 6.4 Indenture Trustee’s Disclaimer 49 Section 6.5 Notice of Defaults 49 Section 6.6 Reports 15by Indenture Trustee to Holders 49 Section 6.7 Compensation and Indemnity 50 Section 6.8 Replacement of Indenture Trustee 50 Section 6.9 Successor Indenture Trustee by ▇▇▇▇▇▇ 51 Section 6.10 Appointment of Co-Indenture Trustee or Separate Indenture Trustee 52 Section 6.11 Eligibility; Disqualification 53 Section 6.12 Preferential Collection of Claims Against Issuer 54 Section 6.13 Communications Regarding Demands to Purchase Receivables 54 ARTICLE VII NOTEHOLDERS’ LISTS AND REPORTS; ASSET REPRESENTATIONS REVIEW 54 Section 7.1 Issuer To Furnish Indenture Trustee Names and Addresses of Noteholders 54 Section 7.2 Preservation of Information; Communications to Noteholders 54 Section 7.3 Reports by Issuer 55 Section 7.4 Reports by Indenture Trustee 55 Section 7.5 Noteholder Communications 55 Section 7.6 Asset Representations Review 56 ARTICLE VIII ACCOUNTS, DISBURSEMENTS AND RELEASES 57 Section 8.1 Collection of Money 57 Section 8.2 Trust Accounts 58 Section 8.3 General Provisions Regarding Accounts 58 Section 8.4 Release of Trust Estate 59 Section 8.5 Opinion of Counsel 60 ARTICLE IX SUPPLEMENTAL INDENTURES 60 Section 9.1 Supplemental Indentures Without Consent of Noteholders 60 Section 9.2 Supplemental Indentures with Consent of Noteholders 61 Section 9.3 Execution of Supplemental Indentures 63 Section 9.4 Effect of Supplemental Indenture 63 Section 9.5 Conformity with Trust Indenture Act 63 Section 9.6 Reference in Notes to Supplemental Indentures 63 ARTICLE X REDEMPTION OF NOTES 63 Section 10.1 Redemption 63 Section 10.2 Form of Redemption Notice 64 Section 10.3 Notes Payable on Redemption Date 64 ARTICLE XI MISCELLANEOUS 65 Section 11.1 Compliance Certificates and Opinions, etc. 65 Section 11.2 Form of Documents Delivered to Indenture Trustee 66 Section 11.3 Acts of Noteholders 67 Section 11.4 Notices, etc., to Indenture Trustee, Issuer and Rating Agencies 68 Section 11.5 Notices to Noteholders; Waiver 69 Section 11.6 Alternate Payment and Notice Provisions 69 Section 11.7 Conflict with Trust Indenture Act 69 Section 11.8 Effect of Headings and Table of Contents 70 Section 11.9 Successors and Assigns 70 Section 11.10 Severability 70 Section 11.11 Benefits of Indenture 70 Section 11.12 Legal Holiday 70 Section 11.13 GOVERNING LAW; SUBMISSION TO JURISDICTION; WAIVER OF RIGHT TO JURY TRIAL 70 Section 11.14 Counterparts and Electronic Signature 71 Section 11.15 Recording of Indenture 71 Section 11.16 Trust Obligation 71 Section 11.17 No Petition 72 Section 11.18 Inspection 72 Section 11.19 Third-Party Beneficiaries 72

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction 4 SECTION 1.2. Other Definitional Provisions 3 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 4 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 5 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 6 SECTION 2.10. Covenants of the Certificateholder 8 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 10 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 11 SECTION 3.7. Maintenance of Office or Agency 12 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 14 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 18 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 19 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trusts and Duties 20 SECTION 6.2. Furnishing of Documents 22 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 23 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 25 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 26 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 26 SECTION 7.1. Owner Trustee’s Fees and Expenses 26 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 27 SECTION 7.4. Non-recourse Obligations 27 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 28 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 30 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 32 SECTION 10.4. Notices 33 SECTION 10.5. Severability 33 SECTION 10.6. Separate Counterparts 33 SECTION 10.7. Assignments 33 SECTION 10.8. No Recourse 33 SECTION 10.9. Headings 34 SECTION 10.10. GOVERNING LAW 34 SECTION 10.11. Servicer 34 SECTION 10.12. Nonpetition Covenants 34 SECTION 10.13. Regulation AB 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 35 SECTION 11.1. Establishment of Trust Accounts 35 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 37 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of March 11, 2020, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power January 16, 2020, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 THE OFFER 2 Section 1.1 Definitions 1 The Offer 2 Section 1.2 Construction Company Actions 4 Section 1.3 Top-Up Option 6 Section 1.4 Stockholder Meeting 7 Section 1.5 Offer Documents; Schedule 13E-3; Schedule 14D9; Proxy Statement 8 Section 1.6 Transfer of Five Star Note to Parent or Purchaser; Conversion of Five Star Note. 8 ARTICLE II ORGANIZATION 4 THE MERGER 9 Section 2.1 Formation 4 The Merger 9 Section 2.2 Name 4 Closing 9 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Effective Time 9 Section 2.4 Purposes 4 Effects of the Merger 9 Section 2.5 Qualification in Other Jurisdictions 4 Certificate of Incorporation and By-laws of the Surviving Corporation 9 Section 2.6 Powers 4 Directors and Officers of the Surviving Corporation 9 Section 2.7 Power Conversion of Attorney 5 Securities 10 Section 2.8 Term 6 Exchange of Certificates 10 Section 2.9 Certificate of Formation 6 Appraisal Rights 13 Section 2.10 Company Equity Awards 13 Section 2.11 Rule 16b-3 14 ARTICLE III MEMBERS REPRESENTATIONS AND UNITS 6 WARRANTIES OF THE COMPANY 14 Section 3.1 Members 6 Organization, Standing and Corporate Power 14 Section 3.2 Authorization to Issue Units 7 Capitalization 15 Section 3.3 Certificates 7 Authority; Noncontravention; Voting Requirements 16 Section 3.4 Record Holders 7 Governmental Approvals 18 Section 3.5 Registration and Transfer of Units 8 Company SEC Documents; Undisclosed Liabilities 18 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Changes or Events 20 Section 3.7 Legal Proceedings 20 Section 3.8 Compliance With Laws; Permits 20 Section 3.9 Information Supplied 21 Section 3.10 Tax Matters 22 Section 3.11 Opinion of Financial Advisor 22 Section 3.12 Brokers and Other Rights 9 Advisors 22 Section 3.13 State Takeover Statutes 23 ARTICLE V MANAGEMENT IV REPRESENTATIONS AND OPERATION WARRANTIES OF BUSINESS 9 PURCHASER 23 Section 5.1 Power 4.1 Organization 23 Section 4.2 Authority; Noncontravention 23 Section 4.3 Government Approvals 24 Section 4.4 Information Supplied 25 Section 4.5 Ownership and Authority Operations of the Manager 9 Purchaser 25 Section 5.2 Term and Withdrawal of the Manager 11 4.6 Financing 25 Section 5.3 Determinations by the Manager 11 4.7 Legal Proceedings 25 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 154.8 Material Non-Public Information 26

TABLE OF CONTENTS. ARTICLE I I. DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction 4 SECTION 1.2. Other Definitional Provisions 3 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 4 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 5 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 6 SECTION 2.10. Covenants of the Certificateholder 8 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 10 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 12 SECTION 3.7. Maintenance of Office or Agency 12 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 13 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 14 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 15 SECTION 4.5. Action with Respect to Bankruptcy Action 15 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 18 SECTION 5.3. Action upon Instruction 18 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 19 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 20 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trusts and Duties 20 SECTION 6.2. Furnishing of Documents 22 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 23 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 24 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 25 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 26 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 26 SECTION 7.1. Owner Trustee’s Fees and Expenses 26 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 27 SECTION 7.4. Non-recourse Obligations 27 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 29 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 30 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 32 SECTION 10.4. Notices 33 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 33 SECTION 10.8. No Recourse 34 SECTION 10.9. Headings 34 SECTION 10.10. GOVERNING LAW 34 SECTION 10.11. Servicer 34 SECTION 10.12. Nonpetition Covenants 34 SECTION 10.13. Regulation AB 35 SECTION 10.14. Force Majeure 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 36 SECTION 11.1. Establishment of Trust Accounts 36 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 37 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of November 24, 2020, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power October 14, 2020, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction 4 SECTION 1.2. Other Definitional Provisions 3 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 4 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 5 SECTION 2.6. Declaration of Trust 5 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 6 SECTION 2.10. Covenants of the Certificateholder 7 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 9 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 11 SECTION 3.7. Maintenance of Office or Agency 11 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 13 SECTION 4.3. Restrictions on Certificateholder’s Power. 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 17 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 18 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trusts and Duties 20 SECTION 6.2. Furnishing of Documents 21 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 22 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 24 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 25 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 25 SECTION 7.1. Owner Trustee’s Fees and Expenses 25 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 26 SECTION 7.4. Non-recourse Obligations 26 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 28 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 29 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 32 SECTION 10.4. Notices 32 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 33 SECTION 10.8. No Recourse 33 SECTION 10.9. Headings 33 SECTION 10.10. Force Majeure 34 SECTION 10.11. GOVERNING LAW 34 SECTION 10.12. Servicer 34 SECTION 10.13. Nonpetition Covenants 34 SECTION 10.14. Regulation AB 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 35 SECTION 11.1. Establishment of Trust Accounts 35 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 36 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of April 14, 2021, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power March 3, 2021, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction SECTION 1.2. Other Definitional Provisions 4 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 5 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 6 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 7 SECTION 2.10. Covenants of the Certificateholder 8 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 10 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 12 SECTION 3.7. Maintenance of Office or Agency 12 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 14 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 18 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 19 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trust and Duties 20 SECTION 6.2. Furnishing of Documents 22 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 23 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 25 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 25 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 26 SECTION 7.1. Owner Trustee’s Fees and Expenses 26 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 26 SECTION 7.4. Non-recourse Obligations 27 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 28 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 30 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 32 SECTION 10.4. Notices 32 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 33 SECTION 10.8. No Recourse 33 SECTION 10.9. Headings 34 SECTION 10.10. GOVERNING LAW 34 SECTION 10.11. Servicer 34 SECTION 10.12. Nonpetition Covenants 34 SECTION 10.13. Regulation AB 35 SECTION 10.14. Force Majeure 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 35 SECTION 11.1. Establishment of Trust Accounts 35 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 37 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of June 22, 2022, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power May 12, 2022, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction SECTION 1.2. Other Definitional Provisions 4 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 5 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 6 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 7 SECTION 2.10. Covenants of the Certificateholder 8 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 10 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 12 SECTION 3.7. Maintenance of Office or Agency 12 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 14 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 15 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 18 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 19 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 20 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trust and Duties 20 SECTION 6.2. Furnishing of Documents 22 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 23 SECTION 6.5. Not Acting in Individual Capacity 24 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 24 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 25 SECTION 6.10. FATCA Information 25 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 26 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 26 SECTION 7.1. Owner Trustee’s Fees and Expenses 26 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 27 SECTION 7.4. Non-recourse Obligations 27 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 29 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 30 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 33 SECTION 10.4. Notices 33 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 34 SECTION 10.8. No Recourse 34 SECTION 10.9. Headings 34 SECTION 10.10. Force Majeure 34 SECTION 10.11. GOVERNING LAW 34 SECTION 10.12. Servicer 34 SECTION 10.13. Nonpetition Covenants 35 SECTION 10.14. Regulation AB 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 36 SECTION 11.1. Establishment of Trust Accounts 36 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 37 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of October 16, 2024, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power August 29, 2024, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of Owner Trustee (the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15“Initial Trust Agreement”).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction 4 SECTION 1.2. Other Definitional Provisions 3 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 4 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 5 SECTION 2.6. Declaration of Trust 5 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 6 SECTION 2.10. Covenants of the Certificateholder 7 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 9 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 11 SECTION 3.7. Maintenance of Office or Agency 11 SECTION 3.8. Disposition in Whole But Not in Part 11 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 13 SECTION 4.3. Restrictions on Certificateholder’s Power 13 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 16 SECTION 5.1. General Authority 16 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 17 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 18 SECTION 5.5. No Action Except under Specified Documents or Instructions 18 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 19 SECTION 6.1. Acceptance of Trusts and Duties 19 SECTION 6.2. Furnishing of Documents 21 SECTION 6.3. Representations and Warranties 21 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 22 SECTION 6.5. Not Acting in Individual Capacity 22 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 23 SECTION 6.8. Payments from Owner Trust Estate 23 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 23 SECTION 6.10. FATCA Information 24 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 24 SECTION 7.1. Owner Trustee’s Fees and Expenses 24 SECTION 7.2. Indemnification 24 SECTION 7.3. Payments to the Owner Trustee 25 SECTION 7.4. Non-recourse Obligations 25 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 25 SECTION 8.1. Termination of Attorney 5 Section 2.8 Term 6 Section 2.9 Trust Agreement 25 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 26 SECTION 9.1. Eligibility Requirements for Owner Trustee 26 SECTION 9.2. Resignation or Removal of Owner Trustee 27 SECTION 9.3. Successor Owner Trustee 27 SECTION 9.4. Merger or Consolidation of Owner Trustee 28 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 28 ARTICLE X. MISCELLANEOUS 29 SECTION 10.1. Supplements and Amendments 29 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 30 SECTION 10.3. Limitations on Rights of Others 30 SECTION 10.4. Notices 31 SECTION 10.5. Severability 31 SECTION 10.6. Separate Counterparts 31 SECTION 10.7. Assignments 31 SECTION 10.8. No Recourse 32 SECTION 10.9. Headings 32 SECTION 10.10. GOVERNING LAW 32 SECTION 10.11. Servicer 32 SECTION 10.12. Nonpetition Covenants 32 SECTION 10.13. Regulation AB 33 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 33 SECTION 11.1. Establishment of Trust Accounts 33 SECTION 11.2. Application of Trust Funds 34 SECTION 11.3. Method of Payment 35 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of April 11, 2018, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power January 24, 2018, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction 4 SECTION 1.2. Other Definitional Provisions 3 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 4 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 5 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 6 SECTION 2.10. Covenants of the Certificateholder 7 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 9 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 11 SECTION 3.7. Maintenance of Office or Agency 11 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 13 SECTION 4.3. Restrictions on Certificateholder’s Power. 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 17 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 18 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trusts and Duties 20 SECTION 6.2. Furnishing of Documents 21 SECTION 6.3. Representations and Warranties 21 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 22 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 23 SECTION 6.8. Payments from Owner Trust Estate 23 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 24 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 25 SECTION 7.1. Owner Trustee’s Fees and Expenses 25 SECTION 7.2. Indemnification 25 SECTION 7.3. Payments to the Owner Trustee 26 SECTION 7.4. Non-recourse Obligations 26 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 26 SECTION 8.1. Termination of Attorney 5 Section 2.8 Term 6 Section 2.9 Trust Agreement 26 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 27 SECTION 9.1. Eligibility Requirements for Owner Trustee 27 SECTION 9.2. Resignation or Removal of Owner Trustee 28 SECTION 9.3. Successor Owner Trustee 28 SECTION 9.4. Merger or Consolidation of Owner Trustee 29 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 29 ARTICLE X. MISCELLANEOUS 30 SECTION 10.1. Supplements and Amendments 30 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 31 SECTION 10.3. Limitations on Rights of Others 31 SECTION 10.4. Notices 32 SECTION 10.5. Severability 32 SECTION 10.6. Separate Counterparts 32 SECTION 10.7. Assignments 32 SECTION 10.8. No Recourse 33 SECTION 10.9. Headings 33 SECTION 10.10. GOVERNING LAW 33 SECTION 10.11. Servicer 33 SECTION 10.12. Nonpetition Covenants 33 SECTION 10.13. Regulation AB 34 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 34 SECTION 11.1. Establishment of Trust Accounts 34 SECTION 11.2. Application of Trust Funds 35 SECTION 11.3. Method of Payment 36 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of October 10, 2018, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power August 20, 2018, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I I. DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction SECTION 1.2. Other Definitional Provisions 4 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 5 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 6 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 7 SECTION 2.10. Covenants of the Certificateholder 8 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 10 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 12 SECTION 3.7. Maintenance of Office or Agency 12 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 14 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 15 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 18 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 19 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 20 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trust and Duties 20 SECTION 6.2. Furnishing of Documents 22 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 23 SECTION 6.5. Not Acting in Individual Capacity 24 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 24 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 25 SECTION 6.10. FATCA Information 25 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 26 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 26 SECTION 7.1. Owner Trustee’s Fees and Expenses 26 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 27 SECTION 7.4. Non-recourse Obligations 27 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 29 SECTION 9.1. Eligibility Requirements for Owner Trustee 29 SECTION 9.2. Resignation or Removal of Owner Trustee 29 SECTION 9.3. Successor Owner Trustee 30 SECTION 9.4. Merger or Consolidation of Owner Trustee 30 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 32 SECTION 10.1. Supplements and Amendments 32 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 33 SECTION 10.3. Limitations on Rights of Others 33 SECTION 10.4. Notices 33 SECTION 10.5. Severability 34 SECTION 10.6. Counterparts and Consent to Do Business Electronically 34 SECTION 10.7. Assignments 34 SECTION 10.8. No Recourse 34 SECTION 10.9. Headings 34 SECTION 10.10. Force Majeure 34 SECTION 10.11. GOVERNING LAW 35 SECTION 10.12. Servicer 35 SECTION 10.13. Nonpetition Covenants 35 SECTION 10.14. Regulation AB 36 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 36 SECTION 11.1. Establishment of Trust Accounts 36 SECTION 11.2. Application of Trust Funds 37 SECTION 11.3. Method of Payment 37 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of July 16, 2025, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power May 27, 2025, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of Owner Trustee (the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15“Initial Trust Agreement”).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction 4 SECTION 1.2. Other Definitional Provisions 3 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 4 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 5 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 6 SECTION 2.10. Covenants of the Certificateholder 8 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 10 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 11 SECTION 3.7. Maintenance of Office or Agency 12 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 14 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 17 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 18 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trusts and Duties 20 SECTION 6.2. Furnishing of Documents 21 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 22 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 24 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 Trust 25 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 25 SECTION 7.1. Owner Trustee’s Fees and Expenses 25 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 26 SECTION 7.4. Non-recourse Obligations 26 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 28 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 29 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 32 SECTION 10.4. Notices 32 SECTION 10.5. Severability 33 SECTION 10.6. Separate Counterparts 33 SECTION 10.7. Assignments 33 SECTION 10.8. No Recourse 33 SECTION 10.9. Headings 33 SECTION 10.10. GOVERNING LAW 33 SECTION 10.11. Servicer 34 SECTION 10.12. Nonpetition Covenants 34 SECTION 10.13. Regulation AB 34 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 35 SECTION 11.1. Establishment of Trust Accounts 35 SECTION 11.2. Application of Trust Funds 35 SECTION 11.3. Method of Payment 36 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of March 13, 2019, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power January 23, 2019, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction SECTION 1.2. Other Definitional Provisions 4 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 4 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 5 SECTION 2.6. Declaration of Trust 5 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 6 SECTION 2.10. Covenants of the Certificateholder 7 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 9 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 11 SECTION 3.7. Maintenance of Office or Agency 11 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 13 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 17 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 18 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trusts and Duties 20 SECTION 6.2. Furnishing of Documents 21 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 22 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 24 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 25 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 25 SECTION 7.1. Owner Trustee’s Fees and Expenses 25 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 26 SECTION 7.4. Non-recourse Obligations 26 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 28 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 29 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 32 SECTION 10.4. Notices 32 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 33 SECTION 10.8. No Recourse 33 SECTION 10.9. Headings 33 SECTION 10.10. Force Majeure 34 SECTION 10.11. GOVERNING LAW 34 SECTION 10.12. Servicer 34 SECTION 10.13. Nonpetition Covenants 34 SECTION 10.14. Regulation AB 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 35 SECTION 11.1. Establishment of Trust Accounts 35 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 36 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of August 19, 2020, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power July 8, 2020, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I I. DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction SECTION 1.2. Other Definitional Provisions 4 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 5 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 6 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 7 SECTION 2.10. Covenants of the Certificateholder 8 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 10 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 12 SECTION 3.7. Maintenance of Office or Agency 12 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 14 SECTION 4.3. Restrictions on Certificateholder’s Power. 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 18 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 19 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trust and Duties 20 SECTION 6.2. Furnishing of Documents 22 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 23 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 25 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 25 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 26 SECTION 7.1. Owner Trustee’s Fees and Expenses 26 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 26 SECTION 7.4. Non-recourse Obligations 27 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 28 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 30 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 32 SECTION 10.4. Notices 32 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 33 SECTION 10.8. No Recourse 33 SECTION 10.9. Headings 34 SECTION 10.10. GOVERNING LAW 34 SECTION 10.11. Servicer 34 SECTION 10.12. Nonpetition Covenants 34 SECTION 10.13. Regulation AB 35 SECTION 10.14. Force Majeure 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 35 SECTION 11.1. Establishment of Trust Accounts 35 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 37 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of March 15, 2023, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power January 18, 2023, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of Owner Trustee (the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15“Initial Trust Agreement”).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction 4 SECTION 1.2. Other Definitional Provisions 3 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 4 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 5 SECTION 2.6. Declaration of Trust 5 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 6 SECTION 2.10. Covenants of the Certificateholder 7 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 9 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 11 SECTION 3.7. Maintenance of Office or Agency 11 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 13 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 16 SECTION 5.1. General Authority 16 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 17 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 18 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trusts and Duties 20 SECTION 6.2. Furnishing of Documents 21 SECTION 6.3. Representations and Warranties 21 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 22 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 24 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 24 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 Trust 25 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 25 SECTION 7.1. Owner Trustee’s Fees and Expenses 25 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 26 SECTION 7.4. Non-recourse Obligations 26 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 26 SECTION 8.1. Termination of Trust Agreement 26 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 28 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 29 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 29 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 32 SECTION 10.4. Notices 32 SECTION 10.5. Severability 32 SECTION 10.6. Separate Counterparts 33 SECTION 10.7. Assignments 33 SECTION 10.8. No Recourse 33 SECTION 10.9. Headings 33 SECTION 10.10. GOVERNING LAW 33 SECTION 10.11. Servicer 33 SECTION 10.12. Nonpetition Covenants 34 SECTION 10.13. Regulation AB 34 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 35 SECTION 11.1. Establishment of Trust Accounts 35 SECTION 11.2. Application of Trust Funds 35 SECTION 11.3. Method of Payment 36 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of April 17, 2019, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power February 22, 2019, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I I. DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction 4 SECTION 1.2. Other Definitional Provisions 3 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 4 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 5 SECTION 2.6. Declaration of Trust 5 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 6 SECTION 2.10. Covenants of the Certificateholder 7 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 9 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 11 SECTION 3.7. Maintenance of Office or Agency 11 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 13 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 17 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 18 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trust and Duties 20 SECTION 6.2. Furnishing of Documents 21 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 22 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 24 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 25 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 25 SECTION 7.1. Owner Trustee’s Fees and Expenses 25 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 26 SECTION 7.4. Non-recourse Obligations 26 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 28 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 29 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 32 SECTION 10.4. Notices 32 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 33 SECTION 10.8. No Recourse 33 SECTION 10.9. Headings 33 SECTION 10.10. Force Majeure 34 SECTION 10.11. GOVERNING LAW 34 SECTION 10.12. Servicer 34 SECTION 10.13. Nonpetition Covenants 34 SECTION 10.14. Regulation AB 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 35 SECTION 11.1. Establishment of Trust Accounts 35 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 36 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of October 12, 2022, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power August 17, 2022, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction 4 SECTION 1.2. Other Definitional Provisions 3 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 4 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 5 SECTION 2.6. Declaration of Trust 5 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 6 SECTION 2.10. Covenants of the Certificateholder 7 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 9 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 11 SECTION 3.7. Maintenance of Office or Agency 11 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 13 SECTION 4.3. Restrictions on Certificateholder’s Power. 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 17 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 18 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trust and Duties 20 SECTION 6.2. Furnishing of Documents 21 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 22 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 24 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 25 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 25 SECTION 7.1. Owner Trustee’s Fees and Expenses 25 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 26 SECTION 7.4. Non-recourse Obligations 26 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 26 SECTION 8.1. Termination of Trust Agreement 26 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 28 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 29 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 29 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 32 SECTION 10.4. Notices 32 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 33 SECTION 10.8. No Recourse 33 SECTION 10.9. Headings 33 SECTION 10.10. Force Majeure 33 SECTION 10.11. GOVERNING LAW 34 SECTION 10.12. Servicer 34 SECTION 10.13. Nonpetition Covenants 34 SECTION 10.14. Regulation AB 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 35 SECTION 11.1. Establishment of Trust Accounts 35 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 36 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of January 19, 2022, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power November 17, 2021, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE Article I DEFINITIONS 1 AND INCORPORATION BY REFERENCE 2 Section 1.1 Definitions 1 2 Section 1.2 Incorporation by Reference of Trust Indenture Act 2 Section 1.3 Rules of Construction 4 ARTICLE 2 Article II ORGANIZATION THE NOTES 4 Section 2.1 Formation Form 4 Section 2.2 Name Execution, Authentication and Delivery 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Temporary Notes 5 Section 2.4 Purposes 4 Tax Treatment 5 Section 2.5 Qualification in Other Jurisdictions 4 Registration; Registration of Transfer and Exchange 6 Section 2.6 Powers 4 Mutilated, Destroyed, Lost or Stolen Notes 7 Section 2.7 Power of Attorney 5 Persons Deemed Owners 8 Section 2.8 Term 6 Payments 8 Section 2.9 Certificate Cancellation 13 Section 2.10 Release of Formation 6 ARTICLE Collateral 14 Section 2.11 Book-Entry Notes 14 Section 2.12 Notices to Clearing Agency 15 Section 2.13 Definitive Notes 15 Section 2.14 Authenticating Agents 15 Section 2.15 Retained Notes 16 Article III MEMBERS AND UNITS 6 COVENANTS 20 Section 3.1 Members 6 Payment of Principal and Interest; Determination of SOFR; Benchmark Replacement 20 Section 3.2 Authorization to Issue Units 7 Maintenance of Office or Agency 22 Section 3.3 Certificates 7 Money for Payments To Be Held in Trust 22 Section 3.4 Record Holders 7 Existence 23 Section 3.5 Registration and Transfer Protection of Units 8 Trust Estate 24 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Opinions as to Trust Estate 24 Section 4.1 Distributions 3.7 Performance of Obligations; Servicing of Receivables 25 Section 3.8 Negative Covenants 27 Section 3.9 Annual Statement as to Record Holders 8 Compliance 28 Section 4.2 Payment of Taxes 9 3.10 Issuer May Consolidate, etc., Only on Certain Terms 28 Section 4.3 Absence of Certain 3.11 Successor or Transferee 30 Section 3.12 No Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Business 30 Section 5.1 Power and Authority of the Manager 9 3.13 No Borrowing 30 Section 5.2 Term and Withdrawal of the Manager 11 3.14 Servicer’s Obligations 30 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation3.15 Guarantees, IndemnificationLoans, Advances and Insurance 12 Other Liabilities 30 Section 3.16 Capital Expenditures 31 Section 3.17 Restricted Payments 31 Section 3.18 Notice of Events of Default 31 Section 3.19 Removal of Administrator 31 Section 3.20 Further Instruments and Acts 31 Section 3.21 Sales Finance Company Licenses 31 Section 3.22 Representations and Warranties by the Issuer to the Indenture Trustee 31 Article IV SATISFACTION AND DISCHARGE 32 Section 4.1 Satisfaction and Discharge of Indenture 32 Section 4.2 Satisfaction, Discharge and Defeasance of the Notes 33 Section 4.3 Application of Trust Money 34 Section 4.4 Repayment of Monies Held by Paying Agent 34 Article V REMEDIES 34 Section 5.1 Events of Default 34 Section 5.2 Acceleration of Maturity; Rescission and Annulment 35 Section 5.3 Collection of Indebtedness and Suits for Enforcement by Indenture Trustee 36 Section 5.4 Remedies; Priorities 38 Section 5.5 Optional Preservation of the Receivables 41 Section 5.6 Limitation of Suits 42 Section 5.7 Unconditional Rights of Noteholders to Receive Principal and Interest 42 Section 5.8 Restoration of Rights and Remedies 43 Section 5.9 Rights and Remedies Cumulative 43 Section 5.10 Delay or Omission Not a Waiver 43 Section 5.11 Control by Noteholders of the Controlling Class 43 Section 5.12 Waiver of Past Defaults 44 Section 5.13 Undertaking for Costs 44 Section 5.14 Waiver of Stay or Extension Laws 44 Section 5.15 Action on Notes 45 Section 5.16 Performance and Enforcement of Certain Obligations 45 Article VI THE INDENTURE TRUSTEE 46 Section 6.1 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Indenture Trustee 46 Section 6.2 Fiscal Year 15 Rights of Indenture Trustee 48 Section 6.3 Individual Rights of Indenture Trustee 49 Section 6.4 Indenture Trustee’s Disclaimer 49 Section 6.5 Notice of Defaults 49 Section 6.6 Reports 15by Indenture Trustee to Holders 49 Section 6.7 Compensation and Indemnity 50 Section 6.8 Replacement of Indenture Trustee 50 Section 6.9 Successor Indenture Trustee by ▇▇▇▇▇▇ 51 Section 6.10 Appointment of Co-Indenture Trustee or Separate Indenture Trustee 52 Section 6.11 Eligibility; Disqualification 53 Section 6.12 Preferential Collection of Claims Against Issuer 54 Section 6.13 Communications Regarding Demands to Purchase Receivables 54 Article VII NOTEHOLDERS’ LISTS AND REPORTS; ASSET REPRESENTATIONS REVIEW 54 Section 7.1 Issuer To Furnish Indenture Trustee Names and Addresses of Noteholders 54 Section 7.2 Preservation of Information; Communications to Noteholders 54 Section 7.3 Reports by Issuer 55 Section 7.4 Reports by Indenture Trustee 55 Section 7.5 Noteholder Communications 55 Section 7.6 Asset Representations Review 56 Article VIII ACCOUNTS, DISBURSEMENTS AND RELEASES 57 Section 8.1 Collection of Money 57 Section 8.2 Trust Accounts 58 Section 8.3 General Provisions Regarding Accounts 58 Section 8.4 Release of Trust Estate 59 Section 8.5 Opinion of Counsel 60 Article IX SUPPLEMENTAL INDENTURES 60 Section 9.1 Supplemental Indentures Without Consent of Noteholders 60 Section 9.2 Supplemental Indentures with Consent of Noteholders 61 Section 9.3 Execution of Supplemental Indentures 63 Section 9.4 Effect of Supplemental Indenture 63 Section 9.5 Conformity with Trust Indenture Act 63 Section 9.6 Reference in Notes to Supplemental Indentures 63 Article X REDEMPTION OF NOTES 63 Section 10.1 Redemption 63 Section 10.2 Form of Redemption Notice 64 Section 10.3 Notes Payable on Redemption Date 64 Article XI MISCELLANEOUS 65 Section 11.1 Compliance Certificates and Opinions, etc. 65 Section 11.2 Form of Documents Delivered to Indenture Trustee 66 Section 11.3 Acts of Noteholders 67 Section 11.4 Notices, etc., to Indenture Trustee, Issuer and Rating Agencies 67 Section 11.5 Notices to Noteholders; Waiver 69 Section 11.6 Alternate Payment and Notice Provisions 69 Section 11.7 Conflict with Trust Indenture Act 69 Section 11.8 Effect of Headings and Table of Contents 70 Section 11.9 Successors and Assigns 70 Section 11.10 Severability 70 Section 11.11 Benefits of Indenture 70 Section 11.12 Legal Holiday 70 Section 11.13 GOVERNING LAW; SUBMISSION TO JURISDICTION; WAIVER OF RIGHT TO JURY TRIAL 70 Section 11.14 Counterparts and Electronic Signature 71 Section 11.15 Recording of Indenture 71 Section 11.16 Trust Obligation 71 Section 11.17 No Petition 72 Section 11.18 Inspection 72 Section 11.19 Third-Party Beneficiaries 72 Section 11.20 Limitation on Recourse to CarMax Funding 72 Section 11.21 Legal Fees Associated with Indemnification 73 Section 11.22 Limitation of Liability of the Owner Trustee 73 Section 11.23 PATRIOT Act 73 Section 11.24 Beneficial Ownership 74 APPENDIX A Additional Representations and Warranties EXHIBIT A-1 Form of Class A-1 Note EXHIBIT A-2a Form of Class A-2a Note EXHIBIT A-2b Form of Class A-2b Note EXHIBIT A-3 Form of Class A-3 Note EXHIBIT A-4 Form of Class A-4 Note EXHIBIT B Form of Class B Note EXHIBIT C Form of Class C Note EXHIBIT D Form of Class D Note EXHIBIT E Form of Opinion of Counsel EXHIBIT F Form of Transferor Certificate EXHIBIT G Form of Investment Letter INDENTURE, dated as of October 1, 2023 (as amended, supplemented or otherwise modified and in effect from time to time, this “Indenture”), between CARMAX AUTO OWNER TRUST 2023-4, a Delaware statutory trust (the “Issuer”), and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, a national banking association, not in its individual capacity but solely as indenture trustee (in such capacity, the “Indenture Trustee”). Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the holders of the Issuer’s 5.279% Class A-1 Asset-backed Notes (the “Class A-1 Notes”), 6.08% Class A-2a Asset-backed Notes (the “Class A-2a Notes”), Class A-2b Floating Rate Asset-backed Notes (the “Class A-2b Notes” and together with the Class A-2a Notes, the “Class A-2 Notes”), 6.00% Class A-3 Asset-backed Notes (the “Class A-3 Notes”), 5.96% Class A-4 Asset-backed Notes (the “Class A-4 Notes” and, collectively with the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes, the “Class A Notes”), 6.39% Class B Asset-backed Notes (the “Class B Notes”), 6.58% Class C Asset-backed Notes (the “Class C Notes”) and 7.16% Class D Asset-backed Notes (the “Class D Notes” and, collectively with the Class A Notes, the Class B Notes and the Class C Notes, the “Notes”): The Issuer hereby Grants to the Indenture Trustee on the Closing Date, as Indenture Trustee for the benefit of the Holders of the Notes, all of the Issuer’s right, title and interest in, to and under, whether now owned or existing or hereafter acquired or arising (i) the Receivables; (ii) all amounts received on or in respect of the Receivables after the Cutoff Date; (iii) the security interests in the Financed Vehicles granted by the Obligors pursuant to the Receivables and any other interest of the Issuer in such Financed Vehicles; (iv) all proceeds from claims on or refunds of premiums with respect to any physical damage, theft, GAP, credit life or credit disability insurance policies relating to the Financed Vehicles or the Obligors; (v) the Receivable Files; (vi) the Collection Account, the Note Payment Account and the Reserve Account and all amounts, securities, financial assets, investments and other property deposited in or credited to any of the foregoing and all proceeds thereof; (vii) all rights of the Depositor under the Receivables Purchase Agreement, including the right to require the Seller to repurchase Receivables from the Depositor; (viii) all rights of the Issuer under the Sale and Servicing Agreement, including the right to require the Servicer to purchase Receivables from the Issuer; (ix) the right to realize upon any property (including the right to receive future Liquidation Proceeds) that shall have secured a Receivable and have been repossessed by or on behalf of the Issuer; and (x) all present and future claims, demands, causes of action and choses in action in respect of any or all of the foregoing and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all of the foregoing, including all proceeds of the conversion thereof, voluntary or involuntary, into cash or other liquid property; all accounts, general intangibles, chattel paper, instruments, documents, money, investment property, deposit accounts, letters of credit, letter-of-credit rights, insurance proceeds, condemnation awards, rights to payment of any and every kind and other forms of obligations; and all other property which at any time constitutes all or part of or is included in the proceeds of any of the foregoing (collectively, the “Collateral”). The foregoing Grant is made in trust to secure the payment of principal of and interest on, and any other amounts owing in respect of, the Notes, equally and ratably without prejudice, priority or distinction, and to secure compliance with the provisions of this Indenture, all as provided in this Indenture. The Indenture Trustee, as Indenture Trustee on behalf of the Holders of the Notes, acknowledges such ▇▇▇▇▇, accepts the trusts under this Indenture in accordance with the provisions of this Indenture and agrees to perform its duties required in this Indenture to the best of its ability to the end that the interests of the Holders of the Notes may be adequately and effectively protected.

TABLE OF CONTENTS. SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 20 ARTICLE I DEFINITIONS 1 Section 1.1 Definitions 1 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered OfficeVI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trust and Duties 20 SECTION 6.2. Furnishing of Documents 22 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 23 SECTION 6.5. Not Acting in Individual Capacity 24 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 24 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 25 SECTION 6.10. FATCA Information 25 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 26 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 26 SECTION 7.1. Owner Trustee’s Fees and Expenses 26 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 27 SECTION 7.4. Non-recourse Obligations 27 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 29 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 30 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 33 SECTION 10.4. Notices 33 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 34 SECTION 10.8. No Recourse 34 SECTION 10.9. Headings 34 SECTION 10.10. Force Majeure 34 SECTION 10.11. GOVERNING LAW 34 SECTION 10.12. Servicer 34 SECTION 10.13. Nonpetition Covenants 35 SECTION 10.14. Regulation AB 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 36 SECTION 11.1. Establishment of Trust Accounts 36 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 37 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer Trust Exhibit C Form of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment Notice of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Repurchase Request

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 DEFINITIONS; INTERPRETATION 2 Section 1.1 1.01 Definitions 1 2 Section 1.2 Construction 4 1.02 Interpretation 11 ARTICLE II ORGANIZATION 4 THE MERGER 12 Section 2.1 Formation 4 2.01 The Merger 12 Section 2.2 Name 4 2.02 Bank Merger 12 Section 2.3 Registered Office2.03 Effects of the Merger 12 Section 2.04 Constituent Documents 12 Section 2.05 Directors and Executive Officers 13 Section 2.06 Merger Consideration 13 Section 2.07 Anti-Dilutive Adjustment 15 Section 2.08 Dissenting Shares 15 Section 2.09 Rights as Shareholders; Registered Agent; Principal Office; Other Offices 4 Stock Transfers 16 Section 2.4 Purposes 4 2.10 Exchange Procedures 16 Section 2.5 Qualification in Other Jurisdictions 4 2.11 Rights of Certificate Holders after the Effective Time 17 Section 2.6 Powers 4 Section 2.7 Power 2.12 Modification of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 Structure 18 ARTICLE III MEMBERS THE CLOSING AND UNITS 6 THE CLOSING DATE 18 Section 3.1 Members 6 3.01 Effective Time; Time and Place of the Closing and Closing Date 18 Section 3.2 Authorization 3.02 Actions to Issue Units 7 be Taken at the Closing by BFST 19 Section 3.3 Certificates 7 3.03 Actions to be Taken at the Closing by TCBI 19 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 3.04 Additional Actions 20 ARTICLE IV DISTRIBUTIONS REPRESENTATIONS AND REDEMPTIONS 8 WARRANTIES OF BFST 20 Section 4.1 Distributions to Record Holders 8 4.01 Organization and Qualification 21 Section 4.2 Payment of Taxes 9 4.02 Capitalization 21 Section 4.3 4.03 Execution and Delivery; No Violation 21 Section 4.04 BFST Financial Statements 22 Section 4.05 Compliance with Laws and Regulatory Filings 23 Section 4.06 SEC Reports 25 Section 4.07 Consents and Approvals 25 Section 4.08 Absence of Certain Other Changes or Events 25 Section 4.09 Proceedings 25 Section 4.10 Undisclosed Liabilities 26 Section 4.11 BFST Contracts 26 Section 4.12 Taxes and Tax Returns 26 Section 4.13 Loans and Related Matters 27 Section 4.14 Employee Relationships 28 Section 4.15 Regulatory Matters 29 Section 4.16 Employee Benefit Plans 29 Section 4.17 Brokers 30 Section 4.18 Proprietary Rights 9 30 Section 4.19 Representations Not Misleading 30 ARTICLE V MANAGEMENT REPRESENTATIONS AND OPERATION WARRANTIES OF BUSINESS 9 TCBI 31 Section 5.1 Power 5.01 Organization and Authority of the Manager 9 Qualification 31 Section 5.2 Term 5.02 Capitalization 32 Section 5.03 Execution and Withdrawal of the Manager 11 Delivery; No Violation 33 Section 5.3 Determinations by the Manager 11 5.04 Compliance with Laws and Regulatory Filings 34 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 155.05 TCBI Financial Statements 35

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 AND INCORPORATION BY REFERENCE 2 Section 1.1 Definitions 1 2 Section 1.2 Incorporation by Reference of Trust Indenture Act 2 Section 1.3 Rules of Construction 4 2 ARTICLE II ORGANIZATION THE NOTES 4 Section 2.1 Formation Form. 4 Section 2.2 Name Execution, Authentication and Delivery 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Temporary Notes 5 Section 2.4 Purposes 4 Tax Treatment 5 Section 2.5 Qualification in Other Jurisdictions 4 Registration; Registration of Transfer and Exchange 6 Section 2.6 Powers 4 Mutilated, Destroyed, Lost or Stolen Notes 7 Section 2.7 Power of Attorney 5 Persons Deemed Owners 8 Section 2.8 Term 6 Payments 8 Section 2.9 Certificate Cancellation 13 Section 2.10 Release of Formation 6 Collateral 14 Section 2.11 Book-Entry Notes 14 Section 2.12 Notices to Clearing Agency 15 Section 2.13 Definitive Notes 15 Section 2.14 Authenticating Agents 15 Section 2.15 Retained Notes 16 ARTICLE III MEMBERS AND UNITS 6 COVENANTS 20 Section 3.1 Members 6 Payment of Principal and Interest; Determination of SOFR; Benchmark Replacement 20 Section 3.2 Authorization to Issue Units 7 Maintenance of Office or Agency 22 Section 3.3 Certificates 7 Money for Payments To Be Held in Trust 22 Section 3.4 Record Holders 7 Existence 23 Section 3.5 Registration and Transfer Protection of Units 8 Trust Estate 24 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Opinions as to Trust Estate 24 Section 4.1 Distributions 3.7 Performance of Obligations; Servicing of Receivables 25 Section 3.8 Negative Covenants 27 Section 3.9 Annual Statement as to Record Holders 8 Compliance 28 Section 4.2 Payment of Taxes 9 3.10 Issuer May Consolidate, etc., Only on Certain Terms 28 Section 4.3 Absence of Certain 3.11 Successor or Transferee 30 Section 3.12 No Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Business 30 Section 5.1 Power and Authority of the Manager 9 3.13 No Borrowing 30 Section 5.2 Term and Withdrawal of the Manager 11 3.14 Servicer’s Obligations 30 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation3.15 Guarantees, IndemnificationLoans, Advances and Insurance 12 Other Liabilities 30 Section 3.16 Capital Expenditures 31 Section 3.17 Restricted Payments 31 Section 3.18 Notice of Events of Default 31 Section 3.19 Removal of Administrator 31 Section 3.20 Further Instruments and Acts 31 Section 3.21 Sales Finance Company Licenses 31 Section 3.22 Representations and Warranties by the Issuer to the Indenture Trustee 31 ARTICLE IV SATISFACTION AND DISCHARGE 32 Section 4.1 Satisfaction and Discharge of Indenture 32 Section 4.2 Satisfaction, Discharge and Defeasance of the Notes 32 Section 4.3 Application of Trust Money 34 Section 4.4 Repayment of Monies Held by Paying Agent 34 ARTICLE V REMEDIES 34 Section 5.1 Events of Default 34 Section 5.2 Acceleration of Maturity; Rescission and Annulment 35 Section 5.3 Collection of Indebtedness and Suits for Enforcement by Indenture Trustee 36 Section 5.4 Remedies; Priorities 38 Section 5.5 Optional Preservation of the Receivables 41 Section 5.6 Limitation of Suits 42 Section 5.7 Unconditional Rights of Noteholders to Receive Principal and Interest 42 Section 5.8 Restoration of Rights and Remedies 43 Section 5.9 Rights and Remedies Cumulative 43 Section 5.10 Delay or Omission Not a Waiver 43 Section 5.11 Control by Noteholders of the Controlling Class 43 Section 5.12 Waiver of Past Defaults 44 Section 5.13 Undertaking for Costs 44 Section 5.14 Waiver of Stay or Extension Laws 44 Section 5.15 Action on Notes 45 Section 5.16 Performance and Enforcement of Certain Obligations 45 ARTICLE VI THE INDENTURE TRUSTEE 46 Section 6.1 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Indenture Trustee 46 Section 6.2 Fiscal Year 15 Rights of Indenture Trustee 48 Section 6.3 Individual Rights of Indenture Trustee 49 Section 6.4 Indenture Trustee’s Disclaimer 49 Section 6.5 Notice of Defaults 49 Section 6.6 Reports 15by Indenture Trustee to Holders 49 Section 6.7 Compensation and Indemnity 50 Section 6.8 Replacement of Indenture Trustee 50 Section 6.9 Successor Indenture Trustee by ▇▇▇▇▇▇ 51 Section 6.10 Appointment of Co-Indenture Trustee or Separate Indenture Trustee 52 Section 6.11 Eligibility; Disqualification 53 Section 6.12 Preferential Collection of Claims Against Issuer 54 Section 6.13 Communications Regarding Demands to Purchase Receivables 54 ARTICLE VII NOTEHOLDERS’ LISTS AND REPORTS; ASSET REPRESENTATIONS REVIEW 54 Section 7.1 Issuer To Furnish Indenture Trustee Names and Addresses of Noteholders 54 Section 7.2 Preservation of Information; Communications to Noteholders 54 Section 7.3 Reports by Issuer 55 Section 7.4 Reports by Indenture Trustee 55 Section 7.5 Noteholder Communications 55 Section 7.6 Asset Representations Review 56 ARTICLE VIII ACCOUNTS, DISBURSEMENTS AND RELEASES 57 Section 8.1 Collection of Money 57 Section 8.2 Trust Accounts 58 Section 8.3 General Provisions Regarding Accounts 58 Section 8.4 Release of Trust Estate 59 Section 8.5 Opinion of Counsel 60 ARTICLE IX SUPPLEMENTAL INDENTURES 60 Section 9.1 Supplemental Indentures Without Consent of Noteholders 60 Section 9.2 Supplemental Indentures with Consent of Noteholders 61 Section 9.3 Execution of Supplemental Indentures 62 Section 9.4 Effect of Supplemental Indenture 63 Section 9.5 Conformity with Trust Indenture Act 63 Section 9.6 Reference in Notes to Supplemental Indentures 63 ARTICLE X REDEMPTION OF NOTES 63 Section 10.1 Redemption 63 Section 10.2 Form of Redemption Notice 64 Section 10.3 Notes Payable on Redemption Date 64 ARTICLE XI MISCELLANEOUS 65 Section 11.1 Compliance Certificates and Opinions, etc. 65 Section 11.2 Form of Documents Delivered to Indenture Trustee 66 Section 11.3 Acts of Noteholders 67 Section 11.4 Notices, etc., to Indenture Trustee, Issuer and Rating Agencies 68 Section 11.5 Notices to Noteholders; Waiver 69 Section 11.6 Alternate Payment and Notice Provisions 69 Section 11.7 Conflict with Trust Indenture Act 69 Section 11.8 Effect of Headings and Table of Contents 70 Section 11.9 Successors and Assigns 70 Section 11.10 Severability 70 Section 11.11 Benefits of Indenture 70 Section 11.12 Legal Holiday 70 Section 11.13 GOVERNING LAW; SUBMISSION TO JURISDICTION; WAIVER OF RIGHT TO JURY TRIAL 70 Section 11.14 Counterparts and Electronic Signature 71 Section 11.15 Recording of Indenture 71 Section 11.16 Trust Obligation 71 Section 11.17 No Petition 72 Section 11.18 Inspection 72 Section 11.19 Third-Party Beneficiaries 72

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions 1 Section 1.2 Construction SUBPART A. General Provisions 3 CLAUSE 1. EFFECTIVE DATE 3 CLAUSE 2. BUDGET PERIOD/PERIOD OF PERFORMANCE 3 CLAUSE 3. COMPLIANCE WITH FEDERAL, STATE, AND MUNICIPAL LAW 3 CLAUSE 4. INCONSISTENCY WITH FEDERAL LAW 3 CLAUSE 5. ORDER OF PRECEDENCE 3 CLAUSE 6. FEDERAL STEWARDSHIP AND SUBSTANTIAL INVOLVEMENT 4 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification CLAUSE 7. NEPA REQUIREMENTS 6 CLAUSE 8. PERFORMANCE OF WORK IN UNITED STATES 7 CLAUSE 9. EQUIPMENT PURCHASES 7 CLAUSE 10. LOBBYING 8 CLAUSE 11. EXPORT CONTROLS 8 CLAUSE 12. PUBLICATIONS 8 CLAUSE 13. NO-COST EXTENSION 9 CLAUSE 14. PROPERTY – SUPPLIES AND EQUIPMENT 9 CLAUSE 15. RECORD RETENTION 10 CLAUSE 16. AUDITS 10 CLAUSE 17. CLAIMS, DISPUTES, AND APPEALS 11 SUBPART B. Financial Provisions 12 CLAUSE 18. MAXIMUM OBLIGATION 12 CLAUSE 19. COST SHARING 12 CLAUSE 20. REFUND OBLIGATION 13 CLAUSE 21. ALLOWABLE COSTS 13 CLAUSE 22. INDIRECT COSTS 14 CLAUSE 23. PRE-AWARD COSTS 14 CLAUSE 24. PATENT COSTS 15 CLAUSE 25. PAYMENT PROCEDURES 16 CLAUSE 26. BUDGET CHANGES 19 SUBPART C. Miscellaneous Provisions 20 CLAUSE 27. CORPORATE FELONY CONVICTION AND FEDERAL TAX LIABILITY ASSURANCES 20 CLAUSE 28. NON-ASSIGNABILITY 20 CLAUSE 29. RESERVED 20 CLAUSE 30. RESERVED 20 CLAUSE 31. RESERVED 20 The effective date of this Award is stated in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power and Authority Block 27 of the Manager 9 Section 5.2 Term Cover Page (Assistance Agreement Form). The budget period and Withdrawal period of performance are stated in Block 7 of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 ExculpationCover Page (Assistance Agreement Form) to this Award. The Prime Recipient is required to comply with applicable Federal, Indemnificationstate, Advances and Insurance 12 Section 5.5 Duties of the Manager local laws and its Officers regulations for all work performed under this Award. The Prime Recipient is required to obtain all necessary Federal, state, and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKSlocal permits, RECORDSauthorizations, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15approvals for all work performed under this Award.

TABLE OF CONTENTS. ARTICLE I I. DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction SECTION 1.2. Other Definitional Provisions 4 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 5 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 6 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust. 6 SECTION 2.9. Representations and Warranties of the Depositor 7 SECTION 2.10. Covenants of the Certificateholder 8 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 10 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 12 SECTION 3.7. Maintenance of Office or Agency 12 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 14 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 15 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 18 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 19 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 20 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trust and Duties 20 SECTION 6.2. Furnishing of Documents 22 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 23 SECTION 6.5. Not Acting in Individual Capacity 24 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 24 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 25 SECTION 6.10. FATCA Information 25 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 26 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 26 SECTION 7.1. Owner Trustee’s Fees and Expenses 26 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 27 SECTION 7.4. Non-recourse Obligations 27 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 29 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 30 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 33 SECTION 10.4. Notices 33 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 34 SECTION 10.8. No Recourse 34 SECTION 10.9. Headings 34 SECTION 10.10. Force Majeure 34 SECTION 10.11. GOVERNING LAW 34 SECTION 10.12. Servicer 34 SECTION 10.13. Nonpetition Covenants 35 SECTION 10.14. Regulation AB 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 36 SECTION 11.1. Establishment of Trust Accounts 36 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 37 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of January 17, 2024, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power November 28, 2023, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of Owner Trustee (the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15“Initial Trust Agreement”).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction SECTION 1.2. Other Definitional Provisions 4 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 5 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 6 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 7 SECTION 2.10. Covenants of the Certificateholder 8 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 10 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 12 SECTION 3.7. Maintenance of Office or Agency 12 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 14 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 18 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 19 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 20 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trust and Duties 20 SECTION 6.2. Furnishing of Documents 22 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 23 SECTION 6.5. Not Acting in Individual Capacity 24 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 24 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 25 SECTION 6.10. FATCA Information 25 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 26 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 26 SECTION 7.1. Owner Trustee’s Fees and Expenses 26 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 27 SECTION 7.4. Non-recourse Obligations 27 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 29 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 30 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 33 SECTION 10.4. Notices 33 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 34 SECTION 10.8. No Recourse 34 SECTION 10.9. Headings 34 SECTION 10.10. Force Majeure 34 SECTION 10.11. GOVERNING LAW 34 SECTION 10.12. Servicer 34 SECTION 10.13. Nonpetition Covenants 35 SECTION 10.14. Regulation AB 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 36 SECTION 11.1. Establishment of Trust Accounts 36 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 37 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of October 11, 2023, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power August 22, 2023, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of Owner Trustee (the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15“Initial Trust Agreement”).

TABLE OF CONTENTS. ARTICLE I I. DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction 4 SECTION 1.2. Other Definitional Provisions 3 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 4 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 5 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 6 SECTION 2.10. Covenants of the Certificateholder 8 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 10 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 12 SECTION 3.7. Maintenance of Office or Agency 12 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 13 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 14 SECTION 4.3. Restrictions on Certificateholder’s Power. 14 SECTION 4.4. [Reserved] 15 SECTION 4.5. Action with Respect to Bankruptcy Action 15 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 18 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 19 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trusts and Duties 20 SECTION 6.2. Furnishing of Documents 22 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 23 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 24 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 25 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 26 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 26 SECTION 7.1. Owner Trustee’s Fees and Expenses 26 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 27 SECTION 7.4. Non-recourse Obligations 27 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 28 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 30 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 32 SECTION 10.4. Notices 33 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 33 SECTION 10.8. No Recourse 33 SECTION 10.9. Headings 34 SECTION 10.10. GOVERNING LAW 34 SECTION 10.11. Servicer 34 SECTION 10.12. Nonpetition Covenants 34 SECTION 10.13. Regulation AB 35 SECTION 10.14. Force Majeure 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 35 SECTION 11.1. Establishment of Trust Accounts 35 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 37 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of July 22, 2020, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power June 4, 2020, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction 4 SECTION 1.2. Other Definitional Provisions 3 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 4 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 5 SECTION 2.6. Declaration of Trust 5 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 6 SECTION 2.10. Covenants of the Certificateholder 7 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 9 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 11 SECTION 3.7. Maintenance of Office or Agency 11 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 13 SECTION 4.3. Restrictions on Certificateholder’s Power. 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 17 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 18 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trusts and Duties 20 SECTION 6.2. Furnishing of Documents 21 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 22 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 24 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 25 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 25 SECTION 7.1. Owner Trustee’s Fees and Expenses 25 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 26 SECTION 7.4. Non-recourse Obligations 26 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 28 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 29 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 32 SECTION 10.4. Notices 32 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 33 SECTION 10.8. No Recourse 33 SECTION 10.9. Headings 33 SECTION 10.10. Force Majeure 34 SECTION 10.11. GOVERNING LAW 34 SECTION 10.12. Servicer 34 SECTION 10.13. Nonpetition Covenants 34 SECTION 10.14. Regulation AB 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 35 SECTION 11.1. Establishment of Trust Accounts 35 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 36 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of October 14, 2020, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power August 27, 2020, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I I. DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction SECTION 1.2. Other Definitional Provisions 4 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 5 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 6 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 7 SECTION 2.10. Covenants of the Certificateholder 8 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 10 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 12 SECTION 3.7. Maintenance of Office or Agency 12 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 13 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 14 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 15 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 18 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 19 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 20 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trust and Duties 20 SECTION 6.2. Furnishing of Documents 22 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 23 SECTION 6.5. Not Acting in Individual Capacity 24 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 24 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 25 SECTION 6.10. FATCA Information 25 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 26 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 26 SECTION 7.1. Owner Trustee’s Fees and Expenses 26 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 27 SECTION 7.4. Non-recourse Obligations 27 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 29 SECTION 9.1. Eligibility Requirements for Owner Trustee 29 SECTION 9.2. Resignation or Removal of Owner Trustee 29 SECTION 9.3. Successor Owner Trustee 30 SECTION 9.4. Merger or Consolidation of Owner Trustee 30 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 33 SECTION 10.4. Notices 33 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 34 SECTION 10.8. No Recourse 34 SECTION 10.9. Headings 34 SECTION 10.10. Force Majeure 34 SECTION 10.11. GOVERNING LAW 34 SECTION 10.12. Servicer 35 SECTION 10.13. Nonpetition Covenants 35 SECTION 10.14. Regulation AB 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 36 SECTION 11.1. Establishment of Trust Accounts 36 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 37 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of January 15, 2025, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power November 27, 2024, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of Owner Trustee (the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15“Initial Trust Agreement”).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction SECTION 1.2. Other Definitional Provisions 4 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 5 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 6 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 7 SECTION 2.10. Covenants of the Certificateholder 8 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 10 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 12 SECTION 3.7. Maintenance of Office or Agency 12 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 13 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 14 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 15 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 18 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 19 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 20 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trust and Duties 20 SECTION 6.2. Furnishing of Documents 22 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 23 SECTION 6.5. Not Acting in Individual Capacity 24 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 24 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 25 SECTION 6.10. FATCA Information 25 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 26 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 26 SECTION 7.1. Owner Trustee’s Fees and Expenses 26 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 27 SECTION 7.4. Non-recourse Obligations 27 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 29 SECTION 9.1. Eligibility Requirements for Owner Trustee 29 SECTION 9.2. Resignation or Removal of Owner Trustee 29 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 30 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 33 SECTION 10.4. Notices 33 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 34 SECTION 10.8. No Recourse 34 SECTION 10.9. Headings 34 SECTION 10.10. Force Majeure 34 SECTION 10.11. GOVERNING LAW 34 SECTION 10.12. Servicer 35 SECTION 10.13. Nonpetition Covenants 35 SECTION 10.14. Regulation AB 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 36 SECTION 11.1. Establishment of Trust Accounts 36 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 37 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of April 10, 2024, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power February 14, 2024, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of Owner Trustee (the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15“Initial Trust Agreement”).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction 4 SECTION 1.2. Other Definitional Provisions 3 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 4 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 5 SECTION 2.6. Declaration of Trust 5 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 6 SECTION 2.10. Covenants of the Certificateholder 7 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 9 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 11 SECTION 3.7. Maintenance of Office or Agency 11 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 13 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 17 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 18 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trust and Duties 20 SECTION 6.2. Furnishing of Documents 21 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 22 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 24 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 25 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 25 SECTION 7.1. Owner Trustee’s Fees and Expenses 25 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 26 SECTION 7.4. Non-recourse Obligations 26 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 28 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 29 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 32 SECTION 10.4. Notices 32 SECTION 10.5. Severability 33 SECTION 10.6. Counterparts and Consent to Do Business Electronically 33 SECTION 10.7. Assignments 33 SECTION 10.8. No Recourse 33 SECTION 10.9. Headings 33 SECTION 10.10. Force Majeure 34 SECTION 10.11. GOVERNING LAW 34 SECTION 10.12. Servicer 34 SECTION 10.13. Nonpetition Covenants 34 SECTION 10.14. Regulation AB 35 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 35 SECTION 11.1. Establishment of Trust Accounts 35 SECTION 11.2. Application of Trust Funds 36 SECTION 11.3. Method of Payment 36 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of April 13, 2022, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power February 28, 2022, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction 4 SECTION 1.2. Other Definitional Provisions 3 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 4 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 5 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 6 SECTION 2.10. Covenants of the Certificateholder 7 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 9 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 11 SECTION 3.7. Maintenance of Office or Agency 11 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 13 SECTION 4.3. Restrictions on Certificateholder’s Power. 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 16 SECTION 5.1. General Authority 16 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 17 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 18 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trusts and Duties 20 SECTION 6.2. Furnishing of Documents 21 SECTION 6.3. Representations and Warranties 21 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 22 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 23 SECTION 6.8. Payments from Owner Trust Estate 23 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 24 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 24 SECTION 7.1. Owner Trustee’s Fees and Expenses 24 SECTION 7.2. Indemnification 24 SECTION 7.3. Payments to the Owner Trustee 25 SECTION 7.4. Non-recourse Obligations 25 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 25 SECTION 8.1. Termination of Attorney 5 Section 2.8 Term 6 Section 2.9 Trust Agreement 25 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 27 SECTION 9.1. Eligibility Requirements for Owner Trustee 27 SECTION 9.2. Resignation or Removal of Owner Trustee 27 SECTION 9.3. Successor Owner Trustee 28 SECTION 9.4. Merger or Consolidation of Owner Trustee 28 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 28 ARTICLE X. MISCELLANEOUS 30 SECTION 10.1. Supplements and Amendments 30 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 31 SECTION 10.3. Limitations on Rights of Others 31 SECTION 10.4. Notices 31 SECTION 10.5. Severability 31 SECTION 10.6. Separate Counterparts 32 SECTION 10.7. Assignments 32 SECTION 10.8. No Recourse 32 SECTION 10.9. Headings 32 SECTION 10.10. GOVERNING LAW 32 SECTION 10.11. Servicer 32 SECTION 10.12. Nonpetition Covenants 33 SECTION 10.13. Regulation AB 34 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 34 SECTION 11.1. Establishment of Trust Accounts 34 SECTION 11.2. Application of Trust Funds 34 SECTION 11.3. Method of Payment 35 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of April 19, 2018, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power February 28, 2018, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 AND INCORPORATION BY REFERENCE 2 Section 1.1 Definitions 1 2 Section 1.2 Incorporation by Reference of Trust Indenture Act 2 Section 1.3 Rules of Construction 4 2 ARTICLE II ORGANIZATION THE NOTES 4 Section 2.1 Formation Form 4 Section 2.2 Name Execution, Authentication and Delivery 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Temporary Notes 5 Section 2.4 Purposes 4 Tax Treatment 5 Section 2.5 Qualification in Other Jurisdictions 4 Registration; Registration of Transfer and Exchange 6 Section 2.6 Powers 4 Mutilated, Destroyed, Lost or Stolen Notes 7 Section 2.7 Power of Attorney 5 Persons Deemed Owners 8 Section 2.8 Term 6 Payments 8 Section 2.9 Certificate Cancellation 13 Section 2.10 Release of Formation 6 Collateral 14 Section 2.11 Book-Entry Notes 14 Section 2.12 Notices to Clearing Agency 15 Section 2.13 Definitive Notes 15 Section 2.14 Authenticating Agents 15 Section 2.15 Retained Notes 16 ARTICLE III MEMBERS AND UNITS 6 COVENANTS 20 Section 3.1 Members 6 Payment of Principal and Interest; Determination of SOFR; Benchmark Replacement 20 Section 3.2 Authorization to Issue Units 7 Maintenance of Office or Agency 22 Section 3.3 Certificates 7 Money for Payments To Be Held in Trust 22 Section 3.4 Record Holders 7 Existence 23 Section 3.5 Registration and Transfer Protection of Units 8 Trust Estate 24 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Opinions as to Trust Estate 24 Section 4.1 Distributions 3.7 Performance of Obligations; Servicing of Receivables 25 Section 3.8 Negative Covenants 27 Section 3.9 Annual Statement as to Record Holders 8 Compliance 28 Section 4.2 Payment of Taxes 9 3.10 Issuer May Consolidate, etc., Only on Certain Terms 28 Section 4.3 Absence of Certain 3.11 Successor or Transferee 30 Section 3.12 No Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Business 30 Section 5.1 Power and Authority of the Manager 9 3.13 No Borrowing 30 Section 5.2 Term and Withdrawal of the Manager 11 3.14 Servicer’s Obligations 30 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation3.15 Guarantees, IndemnificationLoans, Advances and Insurance 12 Other Liabilities 30 Section 3.16 Capital Expenditures 31 Section 3.17 Restricted Payments 31 Section 3.18 Notice of Events of Default 31 Section 3.19 Removal of Administrator 31 Section 3.20 Further Instruments and Acts 31 Section 3.21 Sales Finance Company Licenses 31 Section 3.22 Representations and Warranties by the Issuer to the Indenture Trustee 31 ARTICLE IV SATISFACTION AND DISCHARGE 32 Section 4.1 Satisfaction and Discharge of Indenture 32 Section 4.2 Satisfaction, Discharge and Defeasance of the Notes 33 Section 4.3 Application of Trust Money 34 Section 4.4 Repayment of Monies Held by Paying Agent 34 ARTICLE V REMEDIES 34 Section 5.1 Events of Default 34 Section 5.2 Acceleration of Maturity; Rescission and Annulment 35 Section 5.3 Collection of Indebtedness and Suits for Enforcement by Indenture Trustee 36 Section 5.4 Remedies; Priorities 38 Section 5.5 Optional Preservation of the Receivables 41 Section 5.6 Limitation of Suits 42 Section 5.7 Unconditional Rights of Noteholders to Receive Principal and Interest 42 Section 5.8 Restoration of Rights and Remedies 43 Section 5.9 Rights and Remedies Cumulative 43 Section 5.10 Delay or Omission Not a Waiver 43 Section 5.11 Control by Noteholders of the Controlling Class 43 Section 5.12 Waiver of Past Defaults 44 Section 5.13 Undertaking for Costs 44 Section 5.14 Waiver of Stay or Extension Laws 44 Section 5.15 Action on Notes 45 Section 5.16 Performance and Enforcement of Certain Obligations 45 ARTICLE VI THE INDENTURE TRUSTEE 46 Section 6.1 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Indenture Trustee 46 Section 6.2 Fiscal Year 15 Rights of Indenture Trustee 48 Section 6.3 Individual Rights of Indenture Trustee 49 Section 6.4 Indenture Trustee’s Disclaimer 49 Section 6.5 Notice of Defaults 49 Section 6.6 Reports 15by Indenture Trustee to Holders 49 Section 6.7 Compensation and Indemnity 50 Section 6.8 Replacement of Indenture Trustee 50 Section 6.9 Successor Indenture Trustee by ▇▇▇▇▇▇ 51 Section 6.10 Appointment of Co-Indenture Trustee or Separate Indenture Trustee 52 Section 6.11 Eligibility; Disqualification 53 Section 6.12 Preferential Collection of Claims Against Issuer 54 Section 6.13 Communications Regarding Demands to Purchase Receivables 54 ARTICLE VII NOTEHOLDERS’ LISTS AND REPORTS; ASSET REPRESENTATIONS REVIEW 54 Section 7.1 Issuer To Furnish Indenture Trustee Names and Addresses of Noteholders 54 Section 7.2 Preservation of Information; Communications to Noteholders 54 Section 7.3 Reports by Issuer 55 Section 7.4 Reports by Indenture Trustee 55 Section 7.5 Noteholder Communications 55 Section 7.6 Asset Representations Review 56 ARTICLE VIII ACCOUNTS, DISBURSEMENTS AND RELEASES 57 Section 8.1 Collection of Money 57 Section 8.2 Trust Accounts 58 Section 8.3 General Provisions Regarding Accounts 58 Section 8.4 Release of Trust Estate 59 Section 8.5 Opinion of Counsel 60 ARTICLE IX SUPPLEMENTAL INDENTURES 60 Section 9.1 Supplemental Indentures Without Consent of Noteholders 60 Section 9.2 Supplemental Indentures with Consent of Noteholders 61 Section 9.3 Execution of Supplemental Indentures 63 Section 9.4 Effect of Supplemental Indenture 63 Section 9.5 Conformity with Trust Indenture Act 63 Section 9.6 Reference in Notes to Supplemental Indentures 63 ARTICLE X REDEMPTION OF NOTES 63 Section 10.1 Redemption 63 Section 10.2 Form of Redemption Notice 64 Section 10.3 Notes Payable on Redemption Date 64 ARTICLE XI MISCELLANEOUS 65 Section 11.1 Compliance Certificates and Opinions, etc. 65 Section 11.2 Form of Documents Delivered to Indenture Trustee 66 Section 11.3 Acts of Noteholders 67 Section 11.4 Notices, etc., to Indenture Trustee, Issuer and Rating Agencies 67 Section 11.5 Notices to Noteholders; Waiver 69 Section 11.6 Alternate Payment and Notice Provisions 69 Section 11.7 Conflict with Trust Indenture Act 69 Section 11.8 Effect of Headings and Table of Contents 70 Section 11.9 Successors and Assigns 70 Section 11.10 Severability 70 Section 11.11 Benefits of Indenture 70 Section 11.12 Legal Holiday 70 Section 11.13 GOVERNING LAW; SUBMISSION TO JURISDICTION; WAIVER OF RIGHT TO JURY TRIAL 70 Section 11.14 Counterparts and Electronic Signature 71 Section 11.15 Recording of Indenture 71 Section 11.16 Trust Obligation 71 Section 11.17 No Petition 72 Section 11.18 Inspection 72 Section 11.19 Third-Party Beneficiaries 72

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 AND INCORPORATION BY REFERENCE 2 Section 1.1 Definitions 1 2 Section 1.2 Incorporation by Reference of Trust Indenture Act 2 Section 1.3 Rules of Construction 4 2 ARTICLE II ORGANIZATION THE NOTES 4 Section 2.1 Formation Form 4 Section 2.2 Name Execution, Authentication and Delivery 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Temporary Notes 5 Section 2.4 Purposes 4 Tax Treatment 5 Section 2.5 Qualification in Other Jurisdictions 4 Registration; Registration of Transfer and Exchange 6 Section 2.6 Powers 4 Mutilated, Destroyed, Lost or Stolen Notes 7 Section 2.7 Power of Attorney 5 Persons Deemed Owners 8 Section 2.8 Term 6 Payments 8 Section 2.9 Certificate Cancellation 13 Section 2.10 Release of Formation 6 Collateral 14 Section 2.11 Book-Entry Notes 14 Section 2.12 Notices to Clearing Agency 15 Section 2.13 Definitive Notes 15 Section 2.14 Authenticating Agents 15 Section 2.15 Retained Notes 16 ARTICLE III MEMBERS AND UNITS 6 COVENANTS 20 Section 3.1 Members 6 Payment of Principal and Interest; Determination of SOFR; Benchmark Replacement 20 Section 3.2 Authorization to Issue Units 7 Maintenance of Office or Agency 22 Section 3.3 Certificates 7 Money for Payments To Be Held in Trust 22 Section 3.4 Record Holders 7 Existence 23 Section 3.5 Registration and Transfer Protection of Units 8 Trust Estate 24 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Opinions as to Trust Estate 24 Section 4.1 Distributions 3.7 Performance of Obligations; Servicing of Receivables 25 Section 3.8 Negative Covenants 27 Section 3.9 Annual Statement as to Record Holders 8 Compliance 28 Section 4.2 Payment of Taxes 9 3.10 Issuer May Consolidate, etc., Only on Certain Terms 28 Section 4.3 Absence of Certain 3.11 Successor or Transferee 30 Section 3.12 No Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Business 30 Section 5.1 Power and Authority of the Manager 9 3.13 No Borrowing 30 Section 5.2 Term and Withdrawal of the Manager 11 3.14 Servicer’s Obligations 30 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation3.15 Guarantees, IndemnificationLoans, Advances and Insurance 12 Other Liabilities 30 Section 3.16 Capital Expenditures 31 Section 3.17 Restricted Payments 31 Section 3.18 Notice of Events of Default 31 Section 3.19 Removal of Administrator 31 Section 3.20 Further Instruments and Acts 31 Section 3.21 Sales Finance Company Licenses 31 Section 3.22 Representations and Warranties by the Issuer to the Indenture Trustee 31 ARTICLE IV SATISFACTION AND DISCHARGE 32 Section 4.1 Satisfaction and Discharge of Indenture 32 Section 4.2 Satisfaction, Discharge and Defeasance of the Notes 33 Section 4.3 Application of Trust Money 34 Section 4.4 Repayment of Monies Held by Paying Agent 34 ARTICLE V REMEDIES 34 Section 5.1 Events of Default 34 Section 5.2 Acceleration of Maturity; Rescission and Annulment 35 Section 5.3 Collection of Indebtedness and Suits for Enforcement by Indenture Trustee 36 Section 5.4 Remedies; Priorities 38 Section 5.5 Optional Preservation of the Receivables 41 Section 5.6 Limitation of Suits 42 Section 5.7 Unconditional Rights of Noteholders to Receive Principal and Interest 42 Section 5.8 Restoration of Rights and Remedies 43 Section 5.9 Rights and Remedies Cumulative 43 Section 5.10 Delay or Omission Not a Waiver 43 Section 5.11 Control by Noteholders of the Controlling Class 43 Section 5.12 Waiver of Past Defaults 44 Section 5.13 Undertaking for Costs 44 Section 5.14 Waiver of Stay or Extension Laws 44 Section 5.15 Action on Notes 45 Section 5.16 Performance and Enforcement of Certain Obligations 45 ARTICLE VI THE INDENTURE TRUSTEE 46 Section 6.1 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Indenture Trustee 46 Section 6.2 Fiscal Year 15 Rights of Indenture Trustee 48 Section 6.3 Individual Rights of Indenture Trustee 49 Section 6.4 Indenture Trustee’s Disclaimer 49 Section 6.5 Notice of Defaults 49 Section 6.6 Reports 15by Indenture Trustee to Holders 49 Section 6.7 Compensation and Indemnity 50 Section 6.8 Replacement of Indenture Trustee 50 Section 6.9 Successor Indenture Trustee by ▇▇▇▇▇▇ 51 Section 6.10 Appointment of Co-Indenture Trustee or Separate Indenture Trustee 52 Section 6.11 Eligibility; Disqualification 53 Section 6.12 Preferential Collection of Claims Against Issuer 54 Section 6.13 Communications Regarding Demands to Purchase Receivables 54 ARTICLE VII NOTEHOLDERS’ LISTS AND REPORTS; ASSET REPRESENTATIONS REVIEW 54 Section 7.1 Issuer To Furnish Indenture Trustee Names and Addresses of Noteholders 54 Section 7.2 Preservation of Information; Communications to Noteholders 54 Section 7.3 Reports by Issuer 55 Section 7.4 Reports by Indenture Trustee 55 Section 7.5 Noteholder Communications 55 Section 7.6 Asset Representations Review 56 ARTICLE VIII ACCOUNTS, DISBURSEMENTS AND RELEASES 57 Section 8.1 Collection of Money 57 Section 8.2 Trust Accounts 58 Section 8.3 General Provisions Regarding Accounts 58 Section 8.4 Release of Trust Estate 59 Section 8.5 Opinion of Counsel 60 ARTICLE IX SUPPLEMENTAL INDENTURES 60 Section 9.1 Supplemental Indentures Without Consent of Noteholders 60 Section 9.2 Supplemental Indentures with Consent of Noteholders 61 Section 9.3 Execution of Supplemental Indentures 63 Section 9.4 Effect of Supplemental Indenture 63 Section 9.5 Conformity with Trust Indenture Act 63 Section 9.6 Reference in Notes to Supplemental Indentures 63 ARTICLE X REDEMPTION OF NOTES 63 Section 10.1 Redemption 63 Section 10.2 Form of Redemption Notice 64 Section 10.3 Notes Payable on Redemption Date 64 ARTICLE XI MISCELLANEOUS 65 Section 11.1 Compliance Certificates and Opinions, etc. 65 Section 11.2 Form of Documents Delivered to Indenture Trustee 66 Section 11.3 Acts of Noteholders 67 Section 11.4 Notices, etc., to Indenture Trustee, Issuer and Rating Agencies 68 Section 11.5 Notices to Noteholders; Waiver 69 Section 11.6 Alternate Payment and Notice Provisions 69 Section 11.7 Conflict with Trust Indenture Act 69 Section 11.8 Effect of Headings and Table of Contents 70 Section 11.9 Successors and Assigns 70 Section 11.10 Severability 70 Section 11.11 Benefits of Indenture 70 Section 11.12 Legal Holiday 70 Section 11.13 GOVERNING LAW; SUBMISSION TO JURISDICTION; WAIVER OF RIGHT TO JURY TRIAL 70 Section 11.14 Counterparts and Electronic Signature 71 Section 11.15 Recording of Indenture 71 Section 11.16 Trust Obligation 71 Section 11.17 No Petition 72 Section 11.18 Inspection 72 Section 11.19 Third-Party Beneficiaries 72

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction 4 SECTION 1.2. Other Definitional Provisions 3 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 4 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 5 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 6 SECTION 2.10. Covenants of the Certificateholder 7 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 9 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 11 SECTION 3.7. Maintenance of Office or Agency 11 SECTION 3.8. Disposition in Whole But Not in Part 11 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 13 SECTION 4.3. Restrictions on Certificateholder’s Power 13 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 16 SECTION 5.1. General Authority 16 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 17 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 18 SECTION 5.5. No Action Except under Specified Documents or Instructions 18 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 19 SECTION 6.1. Acceptance of Trusts and Duties 19 SECTION 6.2. Furnishing of Documents 21 SECTION 6.3. Representations and Warranties 21 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 22 SECTION 6.5. Not Acting in Individual Capacity 22 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 23 SECTION 6.8. Payments from Owner Trust Estate 23 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 23 SECTION 6.10. FATCA Information 24 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 24 SECTION 7.1. Owner Trustee’s Fees and Expenses 24 SECTION 7.2. Indemnification 24 SECTION 7.3. Payments to the Owner Trustee 25 SECTION 7.4. Non-recourse Obligations 25 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 25 SECTION 8.1. Termination of Attorney 5 Section 2.8 Term 6 Section 2.9 Trust Agreement 25 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 26 SECTION 9.1. Eligibility Requirements for Owner Trustee 26 SECTION 9.2. Resignation or Removal of Owner Trustee 27 SECTION 9.3. Successor Owner Trustee 27 SECTION 9.4. Merger or Consolidation of Owner Trustee 28 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 28 ARTICLE X. MISCELLANEOUS 29 SECTION 10.1. Supplements and Amendments 29 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 30 SECTION 10.3. Limitations on Rights of Others 30 SECTION 10.4. Notices 31 SECTION 10.5. Severability 31 SECTION 10.6. Separate Counterparts 31 SECTION 10.7. Assignments 31 SECTION 10.8. No Recourse 32 SECTION 10.9. Headings 32 SECTION 10.10. GOVERNING LAW 32 SECTION 10.11. Servicer 32 SECTION 10.12. Nonpetition Covenants 32 SECTION 10.13. Regulation AB 33 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 33 SECTION 11.1. Establishment of Trust Accounts 33 SECTION 11.2. Application of Trust Funds 34 SECTION 11.3. Method of Payment 35 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of April 11, 2017, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power April 5, 2017, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction 4 SECTION 1.2. Other Definitional Provisions 3 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 4 SECTION 2.3. Purposes and Powers 4 SECTION 2.4. Appointment of Owner Trustee 5 SECTION 2.5. Initial Capital Contribution of Trust Estate 5 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 6 SECTION 2.9. Representations and Warranties of the Depositor 6 SECTION 2.10. Covenants of the Certificateholder 8 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 9 SECTION 3.4. Registration of Transfer and Exchange of Certificate 10 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 11 SECTION 3.7. Maintenance of Office or Agency 12 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 14 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 17 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 18 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trusts and Duties 20 SECTION 6.2. Furnishing of Documents 21 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 22 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 24 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 24 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 25 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 Trust 25 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 25 SECTION 7.1. Owner Trustee’s Fees and Expenses 25 SECTION 7.2. Indemnification 26 SECTION 7.3. Payments to the Owner Trustee 26 SECTION 7.4. Non-recourse Obligations 26 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 27 SECTION 8.1. Termination of Trust Agreement 27 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 28 SECTION 9.1. Eligibility Requirements for Owner Trustee 28 SECTION 9.2. Resignation or Removal of Owner Trustee 28 SECTION 9.3. Successor Owner Trustee 29 SECTION 9.4. Merger or Consolidation of Owner Trustee 29 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 30 ARTICLE X. MISCELLANEOUS 31 SECTION 10.1. Supplements and Amendments 31 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 32 SECTION 10.3. Limitations on Rights of Others 32 SECTION 10.4. Notices 32 SECTION 10.5. Severability 33 SECTION 10.6. Separate Counterparts 33 SECTION 10.7. Assignments 33 SECTION 10.8. No Recourse 33 SECTION 10.9. Headings 33 SECTION 10.10. GOVERNING LAW 33 SECTION 10.11. Servicer 34 SECTION 10.12. Nonpetition Covenants 34 SECTION 10.13. Regulation AB 34 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 35 SECTION 11.1. Establishment of Trust Accounts 35 SECTION 11.2. Application of Trust Funds 35 SECTION 11.3. Method of Payment 36 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of June 12, 2019, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer WILMINGTON TRUST COMPANY, a Delaware trust company, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power April 17, 2019, between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions 1 Section 1.2 Construction 4 SECTION 1.01. Defined Terms 4 SECTION 1.02. Other Defined Terms 4 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered OfficePLEDGE OF SECURITIES 8 SECTION 2.01. Pledge 8 SECTION 2.02. Delivery of the Pledged Collateral 9 SECTION 2.03. Representations, Warranties and Covenants 10 SECTION 2.04. Registration in Nominee Name; Registered AgentDenominations 11 SECTION 2.05. Voting Rights; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 Dividends and Interest 12 SECTION 2.06. Article 8 Opt-In 14 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration SECURITY INTERESTS IN PERSONAL PROPERTY 14 SECTION 3.01. Security Interest 14 SECTION 3.02. Representations and Transfer of Units 8 Section 3.6 Agreements 8 Warranties 16 SECTION 3.03. Covenants 18 SECTION 3.04. Other Actions 20 SECTION 3.05. Covenants Regarding Patent, Trademark and Copyright Collateral 21 SECTION 3.06. Secured Swap Obligation 22 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions REMEDIES 22 SECTION 4.01. Remedies upon Default 22 SECTION 4.02. Application of Proceeds 24 SECTION 4.03. Securities Act 25 SECTION 4.04. Grant of License to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 Use Intellectual Property 26 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power MISCELLANEOUS 26 SECTION 5.01. Notices 26 SECTION 5.02. Waivers; Amendment 26 SECTION 5.03. Collateral Agent’s Fees and Authority Expenses; Indemnification 27 SECTION 5.04. Successors and Assigns 28 SECTION 5.05. Survival of Agreement 28 SECTION 5.06. Counterparts; Effectiveness; Several Agreement 28 SECTION 5.07. Severability 28 SECTION 5.08. Right of Set-off 29 SECTION 5.09. Governing Law; Jurisdiction; Consent to Service of Process; Appointment of Service of Process Agent 29 SECTION 5.10. Waiver of Jury Trial 30 SECTION 5.11. Headings 30 SECTION 5.12. Security Interest Absolute 31 SECTION 5.13. Termination or Release 31 SECTION 5.14. Additional Subsidiaries 32 SECTION 5.15. Collateral Agent Appointed Attorney-in-Fact 32 SECTION 5.16. Keepwell 33 Schedule I Pledged Equity Interests; Pledged Debt Securities Schedule II Intellectual Property Schedule III Commercial Tort Claims Schedule IV Grantor Information Exhibit I Form of Supplement Exhibit II Form of Copyright Security Agreement Exhibit III Form of Patent Security Agreement Exhibit IV Form of Trademark Security Agreement COLLATERAL AGREEMENT, dated as of September 1, 2021 (this “Agreement”), among AMERICAN PUBLIC EDUCATION, INC., a Delaware corporation (the “Borrower”), AMERICAN PUBLIC UNIVERSITY SYSTEM, INC., a West Virginia corporation (“APUS”), NATIONAL EDUCATION SEMINARS, INC., an Ohio corporation (“NESI”), ▇▇▇▇▇▇▇▇▇ COLLEGE, LLC, a Delaware limited liability company (“Rasmussen”), ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇.▇.▇., ▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇ limited liability company (“111 West Congress”), AMERICAN PUBLIC TRAINING LLC, a Delaware limited liability company (“APT”), the other GRANTORS from time to time party hereto and MACQUARIE CAPITAL FUNDING LLC, as Collateral Agent (in such capacity and together with successors in such capacity, the “Collateral Agent”). Reference is made to the Credit Agreement, dated as of the Manager 9 Section 5.2 Term date hereof (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, the Lenders and Withdrawal the Issuing Banks party thereto from time to time and Macquarie Capital Funding LLC, as Administrative Agent and as Collateral Agent. The Lenders and the Issuing Banks have agreed to extend credit to the Borrower subject to the terms and conditions set forth in the Credit Agreement. The obligations of the Manager 11 Section 5.3 Determinations by Lenders and the Manager 11 Section 5.4 ExculpationIssuing Banks to extend such credit are conditioned upon, Indemnificationamong other things, Advances the execution and Insurance 12 Section 5.5 Duties delivery of this Agreement. Each Grantor from time to time party hereto will derive substantial benefits from the Manager extension of credit to the Borrower pursuant to the Credit Agreement and its Officers are willing to execute and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKSdeliver this Agreement in order to induce the Lenders and the Issuing Banks to extend such credit. Accordingly, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15the parties hereto agree as follows:

TABLE OF CONTENTS. ARTICLE I ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 1 Section 1.1 1.01 Definitions 1 Section 1.2 Construction 4 1.02 Other Definitions 12 Section 1.03 Incorporation by Reference of Trust Indenture Act 12 Section 1.04 Form of Documents Delivered to Trustee 12 Section 1.05 Acts of Holders 13 Section 1.06 Notices, Etc., to Trustee and Company 15 Section 1.07 Notice to Holders; Waiver 15 Section 1.08 Conflict with Trust Indenture Act 16 Section 1.09 Effect of Headings and Table of Contents 16 Section 1.10 Successors and Assigns 16 Section 1.11 Separability Clause 16 Section 1.12 Benefits of Indenture 16 Section 1.13 Governing Law 16 Section 1.14 No Recourse 16 Section 1.15 Compliance Certificates and Opinions 17 Section 1.16 Waiver of Jury Trial 17 Section 1.17 Force Majeure 17 ARTICLE II ORGANIZATION 4 TWO SECURITY FORMS 18 Section 2.1 Formation 4 2.01 Forms Generally 18 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 2.02 Form of Attorney 5 Section 2.8 Term 6 Section 2.9 Trustee’s Certificate of Formation 6 Authentication 18 Section 2.03 Securities in Global Form 19 ARTICLE III MEMBERS AND UNITS 6 THREE THE SECURITIES 19 Section 3.1 Members 6 3.01 Amount Unlimited; Issuable in Series 19 Section 3.2 Authorization to Issue Units 7 3.02 Denominations 22 Section 3.3 Certificates 7 3.03 Execution, Authentication, Delivery and Dating 22 Section 3.4 Record Holders 7 3.04 Temporary Securities 24 Section 3.5 3.05 Registration, Registration of Transfer and Transfer of Units 8 Exchange 25 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 3.06 Mutilated, Destroyed, Lost and Stolen Securities 27 Section 4.1 Distributions to Record Holders 8 Section 4.2 3.07 Payment of Taxes 9 Interest; Interest Rights Preserved 28 Section 4.3 Absence 3.08 Persons Deemed Owners 30 Section 3.09 Cancellation 30 Section 3.10 Computation of Interest 30 Section 3.11 CUSIP Numbers 30 ARTICLE FOUR SATISFACTION, DISCHARGE AND DEFEASANCE 31 Section 4.01 Satisfaction and Discharge of Indenture 31 Section 4.02 Application of Trust Money 32 Section 4.03 Satisfaction, Discharge and Defeasance of Securities of any Series 32 ARTICLE FIVE REMEDIES 35 Section 5.01 Events of Default 35 Section 5.02 Acceleration 36 Section 5.03 Other Remedies 37 Section 5.04 Waiver of Past Defaults 38 Section 5.05 Control by Majority 38 Section 5.06 Limitation on Suits 38 Section 5.07 Rights of Holders to Receive Payment 39 Section 5.08 Collection Suit by Trustee 39 Section 5.09 Delay or Omission Not Waiver 39 Section 5.10 Trustee May File Proofs of Claim 39 Section 5.11 Priorities 40 Section 5.12 Undertaking for Costs 40 Section 5.13 Waiver of Stay, Extension or Usury Laws 40 Section 5.14 Judgment Currency 41 ARTICLE SIX THE TRUSTEE 41 Section 6.01 Certain Other Duties and Responsibilities 41 Section 6.02 Certain Rights 9 of Trustee 42 Section 6.03 Not Responsible for Recitals or Issuance of Securities 44 Section 6.04 May Hold Securities 44 Section 6.05 Money Held in Trust 44 Section 6.06 Compensation and Reimbursement 44 Section 6.07 Resignation and Removal; Appointment of Successor 45 Section 6.08 Acceptance of Appointment by Successor 46 Section 6.09 Merger, Conversion, Consolidation or Succession to Business 47 Section 6.10 Reports by Trustee 48 Section 6.11 Trustee’s Disclaimer 48 Section 6.12 Notice of Defaults 48 Section 6.13 Trustee May Establish Record Dates 48 Section 6.14 Lists of Holders 48 Section 6.15 Disqualification; Conflicting Interests 49 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 SEVEN CONSOLIDATION, MERGER OR SALE 49 Section 5.1 Power and Authority 7.01 When Twenty-First Century Fox or the Company may Merge or Transfer Assets 49 Section 7.02 Successor Corporation Substituted 50 Section 7.03 Merger of the Manager 9 a Guarantor 50 Section 5.2 Term and Withdrawal 7.04 Waiver 51 ARTICLE EIGHT SUPPLEMENTAL INDENTURES 51 Section 8.01 Supplemental Indentures Without Consent of the Manager 11 Holders 51 Section 5.3 Determinations by the Manager 11 8.02 Supplemental Indentures With Consent of Holders 53 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 8.03 Execution of Supplemental Indentures 54 Section 5.5 Duties 8.04 Effect of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Supplemental Indentures 54

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions 1 Section 1.2 Construction 4 SECTION 1.01. Defined Terms 1 SECTION 1.02. Classification of Loans and Borrowings 43 SECTION 1.03. Terms Generally 43 SECTION 1.04. Accounting Terms; GAAP 43 SECTION 1.05. Interest Rates; LIBOR Notification 44 SECTION 1.06. Status of Obligations 44 SECTION 1.07. Letters of Credit 44 SECTION 1.08. Pro Forma Adjustments 44 SECTION 1.09. Divisions 44 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered OfficeThe Credits 45 SECTION 2.01. Commitments 46 SECTION 2.02. Loans and Borrowings 46 SECTION 2.03. Requests for Borrowings 46 SECTION 2.04. Swingline Loans; Registered AgentOveradvances and Protective Advances 47 SECTION 2.05. Letters of Credit 49 SECTION 2.06. Funding of Borrowings 53 SECTION 2.07. Interest Elections 54 SECTION 2.08. Termination and Reduction of Commitments 55 SECTION 2.09. Repayment and Amortization of Loans; Principal OfficeEvidence of Debt 56 SECTION 2.10. Prepayment of Loans 57 SECTION 2.11. Fees 58 SECTION 2.12. Interest 59 SECTION 2.13. Alternate Rate of Interest; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power Illegality 60 SECTION 2.14. Increased Costs 62 SECTION 2.15. Break Funding Payments 63 SECTION 2.16. Taxes 63 SECTION 2.17. Payments Generally; Allocation of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate Proceeds; Sharing of Formation 6 Set-offs 67 SECTION 2.18. Mitigation Obligations; Replacement of Lenders. 70 SECTION 2.19. Defaulting Lenders 70 SECTION 2.20. Appointment of Borrower Representative 73 SECTION 2.21. Expansion Option 73 SECTION 2.22. Returned Payments 74 SECTION 2.23. Banking Services and Swap Agreements 74 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration Representations and Transfer Warranties 74 SECTION 3.01. Organization; Powers 74 SECTION 3.02. Authorization; Enforceability 74 SECTION 3.03. Governmental Approvals; No Conflicts 75 SECTION 3.04. Financial Condition; No Material Adverse Change. 75 SECTION 3.05. Properties 75 SECTION 3.06. Litigation and Environmental Matters 76 SECTION 3.07. Compliance with Laws and Agreements 76 SECTION 3.08. Investment Company Status 76 SECTION 3.09. Taxes 76 SECTION 3.10. ERISA 76 SECTION 3.11. Disclosure 77 SECTION 3.12. Solvency 77 SECTION 3.13. Security Interest in Collateral 77 SECTION 3.14. Labor Disputes; Etc. 78 SECTION 3.15. No Default 78 SECTION 3.16. Margin Regulations 78 SECTION 3.17. Subordinated Debt 78 SECTION 3.18. Anti-Corruption Laws and Sanctions 78 SECTION 3.19. EEA Financial Institutions 78 SECTION 3.20. Plan Assets; Prohibited Transactions 79 SECTION 3.21. Material Agreements 79 SECTION 3.22. Capitalization and Subsidiaries 79 SECTION 3.23. Use of Units 8 Section 3.6 Agreements 8 Proceeds 79 SECTION 3.24. Affiliate Transactions 79 SECTION 3.25. Second Lien Transactions 79 SECTION 3.26. Insurance 80 SECTION 3.27. Common Enterprise 80 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 Conditions 80 SECTION 4.01. Effective Date 80 SECTION 4.02. Each Credit Event 83 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power Affirmative Covenants 83 SECTION 5.01. Financial Statements and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Other Information 83

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 1.01 Accounting Terms; Definitions 1 Section 1.2 Construction 4 1.02 Other Interpretive Provisions 18 Section 1.03 Accounting Principles 19 ARTICLE II ORGANIZATION 4 LOANS 19 Section 2.1 Formation 4 2.01 Revolving Loans 19 Section 2.2 Name 4 2.02 Letters of Credit 19 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 2.03 Use of Proceeds 21 Section 2.4 Purposes 4 2.04 Unused Fee 22 Section 2.5 Qualification in Other Jurisdictions 4 2.05 Termination or Reduction of the Commitment 22 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 2.06 Waivers 22 ARTICLE III MEMBERS AND UNITS 6 ADMINISTRATION OF CREDIT 23 Section 3.1 Members 6 3.01 Interest on Loans 23 Section 3.2 3.02 Borrowing Procedure 23 Section 3.03 Conversion 23 Section 3.04 Automatic Conversion 23 Section 3.05 Conversion and Continuation Procedure 24 Section 3.06 Basis for Determining Interest Rate Inadequate or Unfair 24 Section 3.07 Changes in Law Rendering Certain Loans Unlawful 24 Section 3.08 Increased Costs 25 Section 3.09 Capital Adequacy 25 Section 3.10 Limitation on Prepayment 25 Section 3.11 Funding Losses 26 Section 3.12 Conclusiveness of Statements 26 Section 3.13 Survival of Provisions 26 Section 3.14 Computations of Interest 26 Section 3.15 Payments; Loan Accounts 26 Section 3.16 Interest Following Event of Default 27 Section 3.17 Deposits; Set Off 27 Section 3.18 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 for Direct Payments (ACH Debits) 27 ARTICLE IV DISTRIBUTIONS CONDITIONS OF BORROWING 28 Section 4.01 Representations 28 Section 4.02 Guaranty 28 Section 4.03 Pledge and Security Agreement 28 Section 4.04 Intellectual Property Agreement 28 Section 4.05 Filings 28 Section 4.06 Priority 29 Section 4.07 Counsel Opinion 29 Section 4.08 Borrowing Base Certificate 29 Section 4.09 Proceedings Satisfactory 29 Section 4.10 Other Documents 29 ARTICLE V REPRESENTATIONS AND REDEMPTIONS 8 WARRANTIES 30 Section 4.1 Distributions to Record Holders 8 5.01 Organization 30 Section 4.2 Payment 5.02 Authority 30 Section 5.03 Investment Company Act of 1940 31 Section 5.04 Employee Retirement Income Security Act 31 Section 5.05 Financial Statements 31 Section 5.06 Dividends and Redemptions 31 Section 5.07 Liens 31 Section 5.08 Taxes 9 32 Section 4.3 5.09 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Litigation 32 Section 5.1 Power and Authority 5.10 Absence of the Manager 9 Default 32 Section 5.2 Term and Withdrawal of the Manager 11 5.11 No Burdensome Agreements 32 Section 5.3 Determinations by the Manager 11 5.12 Trademarks, etc. 32 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 5.13 Leases 33 Section 5.5 Duties of the Manager and its Officers and Managers 14 5.14 Partnerships; Joint Ventures 33 Section 5.6 Outside Activities 14 5.15 Full Disclosure 33 Section 5.7 Reliance by Third Parties 14 5.16 Fiscal Year 33 Section 5.8 Reimbursement of Expenses 14 5.17 Environmental Matters 33 Section 5.18 Solvency 34 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 NEGATIVE COVENANTS 34 Section 6.1 Records 6.01 Restriction of Indebtedness 34 Section 6.02 Restriction on Liens 35 Section 6.03 Sale and Accounting 15 Leaseback 35 Section 6.2 6.04 Dividends and Redemptions 36 Section 6.05 Acquisitions and Investments 36 Section 6.06 Liquidation; Merger; Disposition of Assets 38 Section 6.07 Accounts Receivable 38 Section 6.08 Leases 38 Section 6.09 Affiliates 38 Section 6.10 Partnerships; Joint Ventures 39 Section 6.11 Fiscal Year 15 39 Section 6.3 6.12 Liens on Foreign Subsidiaries 39 Section 6.13 Derivatives 39 Section 6.14 Restrictive Agreements 39 ARTICLE VII AFFIRMATIVE COVENANTS 40 Section 7.01 Financial Status 40 Section 7.02 Insurance 40 Section 7.03 Corporate Existence; Obligations 41 Section 7.04 Business Activities 41 Section 7.05 Properties 41 Section 7.06 Accounting Records; Reports 1542 Section 7.07 Inspections; Verification 44 Section 7.08 Deposit Accounts, Etc. 45 Section 7.09 Additional Domestic Subsidiaries 45 Section 7.10 Foreign Subsidiaries; Further Assurances 45 Section 7.11 Post-Closing Matters 46 ARTICLE VIII DEFAULTS 46 Section 8.01 Defaults 46 Section 8.02 Termination of Commitments and Acceleration of Obligations 48 ARTICLE IX MISCELLANEOUS 49 Section 9.01 Expenses; Indemnity 49 Section 9.02 Tax Indemnification 51 Section 9.03 Successors 52 Section 9.04 Amendments, Etc. 52 Section 9.05 Survival 52 Section 9.06 Governing Law 52 Section 9.07 Counterparts 52 Section 9.08 Notices 53 Section 9.09 Assignment; Participations 53 Section 9.10 Confidentiality 55 Section 9.11 Entire Agreement; No Agency 55 Section 9.12 No Third Party Benefit 55 Section 9.13 Governing Law; Jurisdiction; Consent to Service of Process 55 Section 9.14 WAIVER OF JURY TRIAL 56 Section 9.15 Limitation of Liability 57 Section 9.16 USA Patriot Act Notice 57 This Credit Agreement (this “Agreement”) is entered into as of July 5, 2012, between ServiceSource International, Inc., a Delaware corporation, as borrower (“Borrower”), and JPMorgan Chase Bank, National Association, as Lender (in such capacity, “Lender”), and as the issuer of Letters of Credit hereunder (in such capacity, the “Issuing Bank”).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 SECTION 1. Escrow Agent 2 Section 1.1 Definitions 1 1.01. Appointment of Escrow Agent 2 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 1.02. Instruction; Etc. 3 Section 1.03. Initial Escrow Amount; Issuance of Escrow Receipts 4 Section 2.1 Formation 1.04. Payments to Receiptholders 4 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 1.05. Mutilated, Destroyed, Lost or Stolen Escrow Receipt 5 Section 2.8 Term 1.06. Additional Escrow Amounts 5 Section 1.07. Resignation or Removal of Escrow Agent 5 Section 1.08. Persons Deemed Owners 6 Section 2.9 Certificate of Formation 1.09. Further Assurances 6 ARTICLE III MEMBERS AND UNITS SECTION 2. Paying Agent 6 Section 3.1 Members 2.01. Appointment of Paying Agent 6 Section 3.2 Authorization to Issue Units 2.02. Establishment of Paying Agent Account 6 Section 2.03. Payments from Paying Agent Account 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 2.04. Withholding Taxes 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 2.05. Resignation or Removal of Paying Agent 8 Section 4.1 Distributions to Record Holders 2.06. Notice of Final Withdrawal 8 Section 4.2 Payment of Taxes SECTION 3. Payments 9 Section 4.3 Absence of Certain SECTION 4. Other Rights Actions 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power SECTION 5. Representations and Authority Warranties of the Manager Escrow Agent 9 Section 5.2 Term SECTION 6. Representations and Withdrawal Warranties of the Manager Paying Agent 10 SECTION 7. Indemnification 11 Section 5.3 Determinations by SECTION 8. Amendment, Etc. 12 SECTION 9. Notices 12 SECTION 10. Transfer 13 SECTION 11. Entire Agreement 13 SECTION 12. Governing Law 13 SECTION 13. Waiver of Jury Trial Right 13 SECTION 14. Counterparts 13 SECTION 15. Rights of Holders 13 Exhibit A Escrow Receipt Exhibit B Withdrawal Certificate ESCROW AND PAYING AGENT AGREEMENT (Class A) dated as of March 22, 2012, (as amended, modified or supplemented from time to time, this “Agreement”) among U.S. BANK NATIONAL ASSOCIATION, a national banking association, as Escrow Agent (in such capacity, together with its successors in such capacity, the Manager 11 Section 5.4 Exculpation“Escrow Agent”); CREDIT SUISSE SECURITIES (USA) LLC and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & CO. LLC, Indemnification, Advances for themselves and Insurance 12 Section 5.5 Duties on behalf of the Manager several Underwriters of the Certificates referred to below (the “Underwriters” and together with their respective transferees and assigns as registered owners of the Certificates, the “Investors”) under the Underwriting Agreement referred to below; WILMINGTON TRUST COMPANY, a Delaware trust company, not in its Officers individual capacity except as otherwise expressly provided herein, but solely as trustee (in such capacity, together with its successors in such capacity, the “Pass Through Trustee”) under the Pass Through Trust Agreement referred to below; and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKSWILMINGTON TRUST COMPANY, RECORDSa Delaware trust company, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15as paying agent hereunder (in such capacity, together with its successors in such capacity, the “Paying Agent”).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS Definitions and Use of Terms 1 Section 1.1 1.01. Certain Definitions 1 Section 1.2 Construction 4 1.02. Headings 13 1.03. Number and Gender of Words 13 1.04. Money 13 1.05. Articles, Sections and Exhibits 13 1.06. Accounting Terms 13 1.07. Classification of Loans and Borrowings 13 1.08. Certain Calculations 14 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered OfficeLoans 14 2.01. Loans 14 2.02. Promissory Note; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power Interest on Loans 15 2.03. Commitment Fee 16 2.04. Interest 16 2.05. Alternate Rate of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 Interest 17 2.06. Increased Costs 17 2.07. Break Funding Payments 18 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration Letters of Credit 18 3.01. Letters of Credit 18 3.02. Procedure for Issuing, Amending, Renewing and Transfer Extending Letters of Units 8 Section 3.6 Agreements 8 Credit 19 3.03. Payments Constitute Advances 19 3.04. Letter of Credit Fee 19 3.05. Obligations Absolute 19 3.06. Limitation of Liability 20 3.07. Additional Costs in Respect of Letters of Credit 20 3.08. Cash Collateral Pledge 20 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions Conditions Precedent 21 4.01. Initial Extension of Credit 21 4.02. Conditions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 all Advances 22 ARTICLE V MANAGEMENT AND OPERATION Representations and Warranties 22 5.01. Existence, Power 22 5.02. Binding Obligations 22 5.03. No Consent 22 5.04. Taxes; Governmental Charges 23 5.05. No Default 23 5.06. Financial Statements 23 5.07. Suits, Actions, Etc 23 5.08. Insurance 23 5.09. Subsidiaries 23 5.10. Ownership of Property 23 5.11. Environmental Compliance 24 5.12. ERISA Compliance 24 5.13. Margin Regulations; Investment Company Act; Public Utility Holding Company Act 24 5.14. Disclosure 24 5.15. Intellectual Property 25 5.16. Patriot Act 25 5.17. Solvency 25 ARTICLE VI Affirmative Covenants 25 6.01. Furnish to Lender: 25 6.02. Notices 26 6.03. Accounts and Records 26 6.04. Preservation of Existence, Etc 27 6.05. Maintenance of Properties 27 6.06. Maintenance of Insurance 27 6.07. Right of Inspection 27 6.08. Right to Additional Information 27 6.09. Compliance with Governmental Requirements 27 6.10. Taxes 27 6.11. Additional Documents 28 6.12. Lender as Principal Depository 28 6.13. Additional Material Subsidiaries 28 ARTICLE VII Negative Covenants 28 7.01. Nature of Business 28 7.02. Liquidations, Mergers, Consolidations; Disposition of Assets; Acquisitions 28 7.03. Sale and Leaseback 29 7.04. Liens 29 7.05. Indebtedness 30 7.06. Loans and Investments 31 7.07. Transactions with Affiliates 32 7.08. Dividends 32 7.09. Use of Proceeds 33 7.10. Additional Subsidiaries 33 7.11. Fiscal Year; Accounting 33 ARTICLE VIII Financial Covenants 33 8.01. Operating Leverage (Funded Debt) 33 8.02. Fixed Charge Coverage 33 8.03. Capital Expenditures 33 ARTICLE IX Events of Default 34 9.01. Events of Default 34 9.02. Remedies 35 9.03. Right of Setoff 35 9.04. Performance by Lender 35 9.05. Rights Cumulative; Election of Remedies 36 ARTICLE X Miscellaneous 36 10.01. Waiver and Agreement 36 10.02. Benefits 36 10.03. Notices 36 10.04. Survival 37 10.05. Controlling Agreement 37 10.06. No Third Party Beneficiary 37 10.07. Lender’s Consent or Approval 37 10.08. Applicable Governmental Requirements 37 10.09. Loan Agreement Governs 38 10.10. Time of Essence 38 10.11. Patriot Act Notice 38 10.12. Invalid Provisions 38 10.13. Expenses of Lender 38 10.14. INDEMNIFICATION OF BUSINESS 9 Section 5.1 Power and Authority LENDER 38 10.15. Participation of the Manager 9 Section 5.2 Term Loans 39 10.16. Confidentiality 39 10.17. Counterparts; Facsimile Documents and Withdrawal Signatures 40 10.18. Imaging of the Manager 11 Section 5.3 Determinations Documents 40 10.19. No Oral Agreements 40 10.20. WAIVER OF RIGHT TO TRIAL BY JURY 41 THIS LOAN AGREEMENT (this “Loan Agreement”) is dated October 15, 2012, by the Manager 11 Section 5.4 Exculpationand between Del Frisco’s Restaurant Group, IndemnificationInc., Advances a Delaware corporation (“Borrower”), and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKSJPMorgan Chase Bank, RECORDSN.A., ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15a national banking association (“Lender”).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions 1 Section 1.2 Construction 4 SECTION 1.01. Credit Agreement 1 SECTION 1.02. Other Defined Terms 1 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered OfficeGuarantee 5 SECTION 2.01. Guarantee 5 SECTION 2.02. Guarantee of Payment 5 SECTION 2.03. No Limitations 6 SECTION 2.04. Reinstatement 7 SECTION 2.05. Agreement to Pay; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 Subrogation 7 SECTION 2.06. Information 7 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units Pledge of Securities 7 Section 3.3 Certificates SECTION 3.01. Pledge 7 Section 3.4 Record Holders 7 Section 3.5 SECTION 3.02. Delivery of the Pledged Collateral 8 SECTION 3.03. Representations, Warranties and Covenants 8 SECTION 3.04. Certification of Limited Liability Company and Limited Partnership Interests 9 SECTION 3.05. Registration in Nominee Name; Denominations 9 SECTION 3.06. Voting Rights; Dividends and Transfer of Units 8 Section 3.6 Agreements 8 Interest 10 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Security Interests in Personal Property 12 SECTION 4.01. Security Interest 12 SECTION 4.02. Representations and Warranties 14 SECTION 4.03. Covenants 15 SECTION 4.04. Other Rights 9 Actions 17 SECTION 4.05. Covenants Regarding Patent, Trademark and Copyright Collateral 19 ARTICLE V MANAGEMENT Remedies 20 SECTION 5.01. Remedies Upon Default 20 SECTION 5.02. Application of Proceeds 22 SECTION 5.03. Grant of License to Use Intellectual Property 23 SECTION 5.04. Securities Act 23 SECTION 5.05. Registration 24 ARTICLE VI Indemnity, Subrogation and Subordination 24 SECTION 6.01. Indemnity and Subrogation 24 SECTION 6.02. Contribution and Subrogation 25 SECTION 6.03. Subordination 25 ARTICLE VII Miscellaneous 25 SECTION 7.01. Notices 25 SECTION 7.02. Waivers; Amendment 25 SECTION 7.03. Administrative Agent’s Fees and Expenses; Indemnification 26 SECTION 7.04. Successors and Assigns 27 SECTION 7.05. Survival of Agreement 27 SECTION 7.06. Counterparts; Effectiveness; Several Agreement 27 SECTION 7.07. Severability 27 SECTION 7.08. Right of Set-Off 28 SECTION 7.09. Governing Law; Jurisdiction; Consent to Service of Process 28 SECTION 7.10. WAIVER OF JURY TRIAL 29 SECTION 7.11. Headings 29 SECTION 7.12. Security Interest Absolute 29 SECTION 7.13. Termination or Release 29 SECTION 7.14. Additional Subsidiaries 30 SECTION 7.15. Administrative Agent Appointed Attorney-in-Fact 30 SECTION 7.16. Specific Performance 30 Schedule I Subsidiary Guarantors Schedule II Pledged Equity Interests; Debt Securities Schedule III Intellectual Property Schedule IV Commercial Tort Claims Exhibit I Form of Supplement GUARANTEE AND OPERATION OF BUSINESS 9 Section 5.1 Power COLLATERAL AGREEMENT dated as of March , 2009, among XM SATELLITE RADIO INC. (“Holdings”), XM SATELLITE RADIO HOLDINGS INC. (the “Borrower”), the subsidiaries of Holdings and Authority the Borrower from time to time party hereto and LIBERTY MEDIA CORPORATION (“LMC”), as Administrative Agent. Reference is made to the Amended and Restated Credit Agreement dated as of March [ ], 2009 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, Holdings, the Lenders from time to time party thereto and LMC, as Administrative Agent. The Lenders have agreed to extend credit to the Borrower subject to the terms and conditions set forth in the Credit Agreement. The obligations of the Manager 9 Section 5.2 Term Lenders to extend such credit are conditioned upon, among other things, the execution and Withdrawal delivery of this Agreement. The Subsidiary Guarantors, as Affiliates of the Manager 11 Section 5.3 Determinations by Borrower, and Holdings, as the Manager 11 Section 5.4 Exculpationdirect parent of Borrower, Indemnificationwill derive substantial benefits from the extension of credit to the Borrower pursuant to the Credit Agreement and are willing to execute and deliver this Agreement in order to induce the Lenders to extend such credit. Accordingly, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15parties hereto agree as follows:

TABLE OF CONTENTS. This Table of Contents does not constitute part of the Indenture and should not have any bearing upon the interpretation of any of its terms or provisions ARTICLE I ONE DEFINITIONS 1 Section 1.1 Definitions 1 Section 1.2 Construction 2 SECTION 1.01. Definitions. 2 Affiliate: 2 Authenticating Agent: 2 Authorized Officer: 2 Board of Directors or Board: 2 Board Resolution: 2 Business Day: 3 Certificate: 3 Commission: 3 Company: 3 Company Order: 3 Corporate Trust Office: 3 Default: 3 Depository: 3 Discount Security: 3 Dollar: 4 Eligible Obligations: 4 Event of Default: 4 Global Security: 4 Governmental Authority: 4 Governmental Obligations: 4 Indenture: 4 Instructions: 4 Interest: 5 Interest Payment Date: 5 Officers’ Certificate: 5 Opinion of Counsel: 5 Outstanding: 5 Periodic Offering: 5 Person: 6 Place of Payment: 6 Predecessor Security: 6 Responsible Officer: 6 Security or Securities: 6 Securityholder: 6 Series: 6 Tranche: 6 Trustee: 6 Trust Indenture Act: 6 United States: 7 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered OfficeTWO ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES 7 SECTION 2.01. Amount Unlimited; Registered Issuable in Series. 7 SECTION 2.02. Designation; Authentication. 8 SECTION 2.03. Registration; Currency; Denominations. 9 SECTION 2.04. Execution and Delivery. 10 SECTION 2.05. Exchanges and Transfers. 12 SECTION 2.06. Temporary Securities. 13 SECTION 2.07. Mutilated, Destroyed, Lost or Stolen Securities. 13 SECTION 2.08. Cancellation of Securities. 14 SECTION 2.09. No Third Party Rights. 14 SECTION 2.10. Authenticating Agent; Principal Office; . 14 SECTION 2.11. Global Securities. 15 SECTION 2.12. Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power Currencies. 16 SECTION 2.13. CUSIP Numbers. 16 ARTICLE THREE REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS 17 SECTION 3.01. Redemption Rights. 17 SECTION 3.02. Redemption Procedures. 17 SECTION 3.03. Effects of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate Redemption. 18 SECTION 3.04. Sinking Funds. 19 SECTION 3.05. Delivery of Formation 6 Securities. 19 SECTION 3.06. Notices and Selection. 19 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 FOUR PARTICULAR COVENANTS OF THE COMPANY 20 SECTION 4.01. Payment of Taxes 9 Section 4.3 Absence Principal, Premium and Interest. 20 SECTION 4.02. Maintenance of Office or Agency. 20 SECTION 4.03. Paying Agent. 20 SECTION 4.04. Appointment of Successor Trustee. 22 SECTION 4.05. Consolidation or Merger. 22 SECTION 4.06. Original Issue Discount. 22 ARTICLE FIVE SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE 22 SECTION 5.01. Securityholders’ List. 22 SECTION 5.02. Security Registrar. 22 SECTION 5.03. Reports by Company. 24 SECTION 5.04. Reports by Trustee. 25 ARTICLE SIX REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT 25 SECTION 6.01. Events of Default; Acceleration of Maturity; Rescission and Annulment. 25 SECTION 6.02. Collection of Indebtedness and Suits for Enforcement by Trustee. 27 SECTION 6.03. Application of Money or Property Collected. 29 SECTION 6.04. Requests by Holders. 29 SECTION 6.05. Remedies Cumulative; No Waiver. 30 SECTION 6.06. Control of Holders. 30 SECTION 6.07. Notice by Trustee. 31 SECTION 6.08. Undertaking for Costs. 31 ARTICLE SEVEN CONCERNING THE TRUSTEE 32 SECTION 7.01. Certain Duties and Responsibilities. 32 SECTION 7.02. Certain Rights of Trustee. 33 SECTION 7.03. Not Responsible for Recitals or Issuance of Securities. 35 SECTION 7.04. May Hold Securities. 35 SECTION 7.05. Monies Held in Trust. 35 SECTION 7.06. Compensation; Reimbursement; and Indemnification. 36 SECTION 7.07. Reliance on Officers’ Certificate. 37 SECTION 7.08. Conflicting Interests. 37 SECTION 7.09. Trustee Required; Eligibility. 37 SECTION 7.10. Resignation and Removal; Appointment of Successor. 38 SECTION 7.11. Acceptance of Appointment by Successor. 39 SECTION 7.12. Preferential Collection of Claims Against Company. 41 SECTION 7.13. Application for Instructions from the Company. 41 ARTICLE EIGHT CONCERNING THE SECURITYHOLDERS 41 SECTION 8.01. Action by Holders. 41 SECTION 8.02. Proof of Execution. 42 SECTION 8.03. Registered Holders. 42 SECTION 8.04. Securities Owned by Company Disregarded. 43 SECTION 8.05. Revocation of Consent; Consents Binding. 43 ARTICLE NINE SUPPLEMENTAL INDENTURES 44 SECTION 9.01. Supplemental Indentures Without Consent of Holders. 44 SECTION 9.02. Supplemental Indentures with Consent of Holders. 46 SECTION 9.03. Effect of Supplemental Indentures. 47 SECTION 9.04. Notation on or Exchange of Securities. 48 SECTION 9.05. Reliance on Opinion of Counsel. 48 ARTICLE TEN CONSOLIDATION, MERGER AND SALE 48 SECTION 10.01. Conditions to Consolidation or Merger. 48 SECTION 10.02. Effect of Consolidation or Merger. 48 SECTION 10.03. Officers’ Certificate and Opinion of Counsel as Evidence. 49 ARTICLE ELEVEN SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED MONIES 50 SECTION 11.01. Company’s Option to Effect Legal Defeasance or Covenant Defeasance. 50 SECTION 11.02. Monies and Eligible Obligations Held in Trust. 51 SECTION 11.03. Release of Paying Agent. 51 SECTION 11.04. Unclaimed Monies or Eligible Obligations. 51 SECTION 11.05. Reinstatement. 52 ARTICLE TWELVE IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS 52 SECTION 12.01. Immunity of Certain Other Rights 9 Persons. 52 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power THIRTEEN MISCELLANEOUS PROVISIONS 53 SECTION 13.01. Successors and Authority Assigns. 53 SECTION 13.02. Acts by Successor. 53 SECTION 13.03. Surrender of the Manager 9 Section 5.2 Term Company Powers. 53 SECTION 13.04. Notices. 53 SECTION 13.05. Governing Law; Jurisdiction and Withdrawal Waiver of the Manager 11 Section 5.3 Determinations Trial by the Manager 11 Section 5.4 ExculpationJury. 53 SECTION 13.06. Certificate and Opinion as to Conditions Precedent. 54 SECTION 13.07. Payments on Next Business Day. 54 SECTION 13.08. Trust Indenture Act Controls. 54 SECTION 13.09. Counterparts. 55 SECTION 13.10. Severability. 55 SECTION 13.11. Assignment. 55 SECTION 13.12. Table of Contents, IndemnificationHeadings, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Etc. 55 SECTION 13.13. Mixed Currencies. 55

TABLE OF CONTENTS. ARTICLE I DEFINITIONS - RECITALS 1 Section 1.1 Definitions 101. The Act 1 Section 1.2 102. Government Proceeding 1 Section 103. Indenture; Lien; Collateral Pledge 1 Section 104. The Agreement 1 SECTION 105. CONDITIONS PRECEDENT PERFORMED ERROR! BOOKMARK NOT DEFINED. ARTICLE II - DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 2 Section 201. Meanings of Words and Terms 2 Section 202. Rules of Construction 4 Section 203. Bonds Not General Obligations of Issuer 4 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney III - GRANT 5 Section 2.8 Term 301. Assignment and Pledge 5 Section 302. Release 5 ARTICLE IV - AUTHORIZATION, FORM, EXECUTION AND DELIVERY OF BONDS 5 Section 401. Authorization; Authorized Amount of the Bond 5 Section 402. Form of Bond 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 403. Execution and Delivery; Payment 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 404. Registration and Transfer of Units the Bonds 6 Section 405. Lost, Stolen, Destroyed and Mutilated Bond 7 Section 406. Cancellation and Destruction of the Bonds by Issuer 7 Section 407. Application of Payments for Bonds 7 ARTICLE V - REDEMPTION 7 Section 501. Redemption 7 ARTICLE VI - BOND REVENUES AND FUNDS 7 Section 601. Source of Payment of the Bonds 7 Section 602. Creation of the Bond Fund, Payments 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 603. Use and Custody of the Bond Fund 8 Section 4.1 Distributions 604. Repayment to Record Holders the Company from the Bond Fund 8 Section 4.2 Payment 605. Investments 8 Section 606. Non-presentment of Taxes the Bond 9 Section 4.3 Absence of Certain Other Rights 607. No Liability 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS VII - ACQUISITION FUND 9 Section 5.1 Power and Authority 701. Creation of the Manager Acquisition Fund; Deposits 9 Section 5.2 Term 702. Disbursements 9 Section 703. Records 10 Section 704. Depositary May Rely on Requisitions 10 Section 705. Status Reports 10 Section 706. Completion Date 10 Section 707. Payment on Acceleration 11 Section 708. Investments 11 Section 709. No Liability 11 ARTICLE VIII - PARTICULAR COVENANTS AND PROVISIONS 11 Section 801. Extent of Covenants; Disclaimer of Liability 11 Section 802. Performance; Authority 12 Section 803. Office or Agency 12 Section 804. Obligations Under the Agreement 12 Section 805. Use and Withdrawal Possession by the Company 12 Section 806. Instruments of Further Assurance 12 Section 807. Recording of Indenture. Supplemental Indentures and Other Documents 12 ARTICLE IX - EVENTS OF DEFAULT AND REMEDIES 13 Section 901. Events of Default 13 Section 902. Remedies on Events of Default 13 Section 903. Rights and Remedies of Purchaser 14 Section 904. Issuer and Depositary Not Responsible 14 Section 905. Application of Moneys 14 Section 906. Purchaser to File Proofs of Claim 15 Section 907. Delay or Omission; No Waiver 15 Section 908. No Waiver of One Default to Affect Another 15 Section 909. Discontinuance of Proceedings on Default; Position of Parties Restored 15 Section 910. Waivers of Events of Default 15 Section 911. Lender Right to Cure Defaults 16 ARTICLE X - THE DEPOSITARY 16 Section 1001. Acceptance of Duties 16 Section 1002. Compensation 17 Section 1003. Qualification 17 Section 1004. Resignation and Removal 17 Section 1005. Successor Depositary 17 ARTICLE XI - SUPPLEMENTS AND AMENDMENTS TO INDENTURE 18 Section 1101. Other Supplemental Indentures 18 Section 1102. Consent of the Manager 11 Company 18 ARTICLE XII - MISCELLANEOUS PROVISIONS 18 Section 5.3 Determinations by 1201. Notices 18 Section 1202. Remedies 19 Section 1203. Beneficiaries 20 Section 1204. Severability 20 Section 1205. Obligations of Issuer Not Obligations of Officials Individually 20 Section 1206. Payments Due on Days That Are Not Business Days 20 Section 1207. Limitation of Issuer’s Liability 20 Section 1208. Successors 21 Section 1209. Title, Headings 21 Section 1210. Consents and Approvals 21 Section 1211. Execution in Counterparts 21 Section 1212. Applicable Law 21 EXHIBIT A - FORM OF BOND ............................................................................................................................. A-1 EXHIBIT B - REQUISITION AND CERTIFICATE NO. .......................................................................................B-1 EXHIBIT C - COMPLETION CERTIFICATE ........................................................................................................C-1 EXHIBIT D - CERTIFICATE OF QUALIFIED INVESTOR................................................................................. D-1 OTERO COUNTY, NEW MEXICO, a political subdivision existing under the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties laws of the Manager State of New Mexico (together with its successors and assigns, the “Issuer”), [BUENA VISTA HOLDINGS, LLC], a Delaware limited liability company (together with its Officers successors and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement assigns, and transferees of Expenses 14 ARTICLE VI BOOKSthe Bonds, RECORDSthe “Purchaser”), ACCOUNTING AND REPORTS 15 Section 6.1 Records BUENA VISTA ENERGY CENTER III, LLC, a Delaware limited liability company (the “Company”) and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15BOKF, NA (together with its successors and assigns, the “Depositary”), agree:

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Escrow Agent. 2 Section 1.1 Definitions 1 1.01. Appointment of Escrow Agent. 2 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 4 1.02. Instruction; Etc. 3 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered Office1.03. Initial Escrow Amount; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power Issuance of Attorney Escrow Receipts. 5 Section 2.8 Term 1.04. Payments to Receiptholders. 5 Section 1.05. Mutilated, Destroyed, Lost or Stolen Escrow Receipt. 5 Section 1.06. Additional Escrow Amounts. 6 Section 2.9 Certificate 1.07. Resignation or Removal of Formation 6 ARTICLE III MEMBERS AND UNITS Escrow Agent. 6 Section 3.1 Members 1.08. Persons Deemed Owners. 6 Section 3.2 Authorization to Issue Units 1.09. Further Assurances. 7 SECTION 2. Paying Agent. 7 Section 3.3 Certificates 2.01. Appointment of Paying Agent. 7 Section 3.4 Record Holders 2.02. Establishment of Paying Agent Account. 7 Section 3.5 Registration and Transfer of Units 2.03. Payments from Paying Agent Account. 7 Section 2.04. Withholding Taxes. 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 2.05. Resignation or Removal of Paying Agent. 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment 2.06. Notice of Taxes Final Withdrawal. 9 Section 4.3 Absence of Certain SECTION 3. Payments. 9 SECTION 4. Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power Actions. 10 SECTION 5. Representations and Authority Warranties of the Manager 9 Section 5.2 Term Escrow Agent. 10 SECTION 6. Representations and Withdrawal Warranties of the Manager Paying Agent. 11 Section 5.3 Determinations by SECTION 7. Indemnification. 12 SECTION 8. Amendment, Etc. 12 SECTION 9. Notices. 13 SECTION 10. Transfer. 13 SECTION 11. Entire Agreement. 14 SECTION 12. Governing Law. 14 SECTION 13. Waiver of Jury Trial Right. 14 SECTION 14. Counterparts. 14 SECTION 15. Rights of Holders. 14 Escrow Agreement 2014-2B Exhibit A Escrow Receipt Exhibit B Withdrawal Certificate Escrow Agreement 2014-2B ESCROW AND PAYING AGENT AGREEMENT (Class B) dated as of August 11, 2014, (as amended, modified or supplemented from time to time, this “Agreement”) among U.S. BANK NATIONAL ASSOCIATION, a national banking association, as Escrow Agent (in such capacity, together with its successors in such capacity, the Manager 11 Section 5.4 Exculpation“Escrow Agent”); CREDIT SUISSE SECURITIES (USA) LLC and M▇▇▇▇▇ S▇▇▇▇▇▇ & CO. LLC, Indemnification, Advances for themselves and Insurance 12 Section 5.5 Duties on behalf of the Manager several Underwriters of the Certificates referred to below (the “Underwriters” and together with their respective transferees and assigns as registered owners of the Certificates, the “Investors”) under the Underwriting Agreement referred to below; WILMINGTON TRUST, NATIONAL ASSOCIATION, a national banking association, not in its Officers individual capacity except as otherwise expressly provided herein, but solely as trustee (in such capacity, together with its successors in such capacity, the “Pass Through Trustee”) under the Pass Through Trust Agreement referred to below; and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKSWILMINGTON TRUST, RECORDSNATIONAL ASSOCIATION, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15a national banking association, as paying agent hereunder (in such capacity, together with its successors in such capacity, the “Paying Agent”).

TABLE OF CONTENTS. ARTICLE I USAGE AND DEFINITIONS 1 2 Section 1.1 Definitions 1 2 Section 1.2 Construction 4 Usage 11 ARTICLE II ORGANIZATION 4 OF THE TRUST 12 Section 2.1 Formation 4 Name 12 Section 2.2 Name 4 Office 13 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Purposes and Powers 13 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Banking Activities 14 Section 5.7 Reliance by 2.5 Appointment of the Titling Trustee and Delaware Trustee 15 Section 2.6 Contribution and Conveyance of Titling Trust Assets 15 Section 2.7 Declaration of Trust 15 Section 2.8 Representations and Warranties of World Omni as Titling Trust Administrator 16 Section 2.9 Tax Reporting and Characterization 17 Section 2.10 Execution of Documents 17 Section 2.11 Conduct of Operations 17 Section 2.12 No State Law Partnership 21 Section 2.13 Titling of Titling Trust Vehicles 21 Section 2.14 Enforcement of Titling Trust Leases 21 Section 2.15 Liability to Third Parties 14 21 Section 5.8 Reimbursement 2.16 No Personal Liability of Expenses 14 any Holder 22 Section 2.17 Limited Liability and Bankruptcy Remoteness 22 Section 2.18 Term 22 ARTICLE VI BOOKSIII MANAGEMENT OF THE TITLING TRUST 22 Section 3.1 General Management of the Titling Trust 22 Section 3.2 Restrictions on the Power of the Titling Trustee 23 Section 3.3 Duties and Obligations of the Titling Trustee 23 Section 3.4 Delegation of Certain Titling Trustee Duties and Ob1iations to the Titling Trust Administrator 25 ARTICLE IV SPECIFIED INTERESTS 25 Section 4.1 Designation of the Specified Interests 25 Section 4.2 Capital Contributions 27 Section 4.3 Allocation of Specified Assets; Servicing Agreements 28 Section 4.4 Asset Removal Procedures 33 Section 4.5 Accounts of the Titling Trust 34 Section 4.6 Titling Trust Debts 34 ARTICLE V THE CERTIFICATES 34 Section 5.1 Authentication and Delivery; Form 34 Section 5.2 Mutilated, RECORDSDestroyed, ACCOUNTING AND REPORTS 15 Lost or Stolen Certificates 35 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 155.3 Persons Deemed Holders 35

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction 4 SECTION 1.2. Other Definitional Provisions 5 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 5 SECTION 2.1. Name 4 Section 2.3 Registered Office5 SECTION 2.2. Office 5 SECTION 2.3. Purposes and Powers 6 SECTION 2.4. Appointment of Owner Trustee 7 SECTION 2.5. Initial Capital Contribution of Trust Estate 7 SECTION 2.6. Declaration of Trust 7 SECTION 2.7. Title to Trust Property 7 SECTION 2.8. Situs of Trust 8 SECTION 2.9. Representations and Warranties of the Depositor 8 SECTION 2.10. Covenants of the Certificateholder[s] 9 SECTION 2.11. Federal Income Tax Treatment of the Trust 9 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 11 SECTION 3.1. Initial Ownership 11 SECTION 3.2. The Certificate[s] 11 SECTION 3.3. Authentication of Certificate 12 SECTION 3.4. Registration of Transfer and Exchange of Certificate[s] 12 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 14 SECTION 3.6. Persons Deemed Certificateholders 14 SECTION 3.7. Maintenance of Office or Agency 14 SECTION 3.8. [Disposition in Whole But Not in Part 15 SECTION 3.9. ERISA Restrictions 18 SECTION 3.10. Appointment of Certificate Paying Agent 18 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 23 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 23 SECTION 4.2. Action by Certificateholder[s] with Respect to Certain Matters 24 SECTION 4.3. Restrictions on Certificateholder’s Power 24 SECTION 4.4. [Reserved] 24 SECTION 4.5. Action with Respect to Bankruptcy Action 24 SECTION 4.6. Covenants and Restrictions on Conduct of Business 25 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 27 SECTION 5.1. General Authority 27 SECTION 5.2. General Duties 27 SECTION 5.3. Action upon Instruction 28 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 29 SECTION 5.5. No Action Except under Specified Documents or Instructions 29 SECTION 5.6. Restrictions 29 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 30 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 30 SECTION 6.1. Acceptance of Trust and Duties 30 SECTION 6.2. Furnishing of Documents 32 SECTION 6.3. Representations and Warranties 32 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 33 SECTION 6.5. Not Acting in Individual Capacity 34 SECTION 6.6. Owner Trustee Not Liable for Certificate[s] or Receivables 34 SECTION 6.7. Owner Trustee May Own Notes 34 SECTION 6.8. Payments from Owner Trust Estate 35 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 35 SECTION 6.10. FATCA Information 35 SECTION 6.11. Financial Crimes Enforcement Network’s Customer Due Diligence 35 SECTION 6.12. Beneficial Ownership and Control of Attorney 5 Section 2.8 Term 6 Section 2.9 the Trust 36 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 36 SECTION 7.1. Owner Trustee’s Fees and Expenses 36 SECTION 7.2. Indemnification 37 SECTION 7.3. Payments to the Owner Trustee 37 SECTION 7.4. Non-recourse Obligations 37 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 37 SECTION 8.1. Termination of Trust Agreement 37 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 39 SECTION 9.1. Eligibility Requirements for Owner Trustee 39 SECTION 9.2. Resignation or Removal of Owner Trustee 39 SECTION 9.3. Successor Owner Trustee 40 SECTION 9.4. Merger or Consolidation of Owner Trustee 40 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 41 ARTICLE X. MISCELLANEOUS 42 SECTION 10.1. Supplements and Amendments 42 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder[s] 43 SECTION 10.3. Limitations on Rights of Others 43 SECTION 10.4. Notices 43 SECTION 10.5. Severability 44 SECTION 10.6. Counterparts and Consent to Do Business Electronically 44 SECTION 10.7. Assignments 44 SECTION 10.8. No Recourse 44 SECTION 10.9. Headings 45 SECTION 10.10. Force Majeure 45 SECTION 10.11. GOVERNING LAW 45 SECTION 10.12. Servicer 45 SECTION 10.13. Nonpetition Covenants 46 SECTION 10.14. [Third-Party Beneficiary] 46 SECTION 10.15. Regulation AB 46 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 47 SECTION 11.1. Establishment of Trust Accounts 47 SECTION 11.2. Application of Trust Funds 47 SECTION 11.3. Method of Payment 48 Exhibit A Form of Certificate Exhibit B Form of Certificate of Formation 6 ARTICLE III MEMBERS Trust Exhibit C Form of Notice of Repurchase Request This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of , 20 , between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and Transfer [OWNER TRUSTEE], a [entity type], as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power , 20 , between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of Owner Trustee (the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15“Initial Trust Agreement”).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.1. Capitalized Terms 1 Section 1.2 Construction SECTION 1.2. Other Definitional Provisions 4 ARTICLE II II. ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 SECTION 2.1. Name 4 Section 2.3 Registered OfficeSECTION 2.2. Office 5 SECTION 2.3. Purposes and Powers 5 SECTION 2.4. Appointment of Owner Trustee 6 SECTION 2.5. Initial Capital Contribution of Trust Estate 6 SECTION 2.6. Declaration of Trust 6 SECTION 2.7. Title to Trust Property 6 SECTION 2.8. Situs of Trust 7 SECTION 2.9. Representations and Warranties of the Depositor 7 SECTION 2.10. Covenants of the Certificateholder 8 SECTION 2.11. Federal Income Tax Treatment of the Trust 8 ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST 9 SECTION 3.1. Initial Ownership 9 SECTION 3.2. The Certificate 9 SECTION 3.3. Authentication of Certificate 10 SECTION 3.4. Registration of Transfer and Exchange of Certificate 10 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 11 SECTION 3.6. Persons Deemed Certificateholders 11 SECTION 3.7. Maintenance of Office or Agency 12 SECTION 3.8. Disposition in Whole But Not in Part 12 SECTION 3.9. ERISA Restrictions 12 SECTION 3.10. Appointment of Certificate Paying Agent 12 ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS 13 SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters 13 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 14 SECTION 4.3. Restrictions on Certificateholder’s Power 14 SECTION 4.4. [Reserved] 14 SECTION 4.5. Action with Respect to Bankruptcy Action 14 SECTION 4.6. Covenants and Restrictions on Conduct of Business 15 ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE 17 SECTION 5.1. General Authority 17 SECTION 5.2. General Duties 17 SECTION 5.3. Action upon Instruction 18 SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions 19 SECTION 5.5. No Action Except under Specified Documents or Instructions 19 SECTION 5.6. Restrictions 19 SECTION 5.7. Covenants for Reporting of Repurchase Demands due to Breaches of Representations and Warranties 19 ARTICLE VI. CONCERNING THE OWNER TRUSTEE 20 SECTION 6.1. Acceptance of Trusts and Duties 20 SECTION 6.2. Furnishing of Documents 21 SECTION 6.3. Representations and Warranties 22 SECTION 6.4. Reliance; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification Advice of Counsel 22 SECTION 6.5. Not Acting in Individual Capacity 23 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 23 SECTION 6.7. Owner Trustee May Own Notes 23 SECTION 6.8. Payments from Owner Trust Estate 24 SECTION 6.9. Doing Business in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 24 SECTION 6.10. FATCA Information 24 ARTICLE VII. COMPENSATION OF OWNER TRUSTEE 24 SECTION 7.1. Owner Trustee’s Fees and Expenses 24 SECTION 7.2. Indemnification 25 SECTION 7.3. Payments to the Owner Trustee 25 SECTION 7.4. Non-recourse Obligations 25 ARTICLE VIII. TERMINATION OF TRUST AGREEMENT 25 SECTION 8.1. Termination of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate Trust Agreement 25 ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 27 SECTION 9.1. Eligibility Requirements for Owner Trustee 27 SECTION 9.2. Resignation or Removal of Formation 6 Owner Trustee 27 SECTION 9.3. Successor Owner Trustee 28 SECTION 9.4. Merger or Consolidation of Owner Trustee 28 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 28 ARTICLE III MEMBERS X. MISCELLANEOUS 30 SECTION 10.1. Supplements and Amendments 30 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 31 SECTION 10.3. Limitations on Rights of Others 31 SECTION 10.4. Notices 31 SECTION 10.5. Severability 32 SECTION 10.6. Separate Counterparts 32 SECTION 10.7. Assignments 32 SECTION 10.8. No Recourse 32 SECTION 10.9. Headings 32 SECTION 10.10. GOVERNING LAW 32 SECTION 10.11. WAIVER OF JURY TRIAL 32 SECTION 10.12. Servicer 33 SECTION 10.13. Nonpetition Covenants 33 SECTION 10.14. [Third Party Beneficiary] 33 SECTION 10.15. Regulation AB 34 ARTICLE XI. APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 34 SECTION 11.1. Establishment of Trust Accounts 34 SECTION 11.2. Application of Trust Funds 34 SECTION 11.3. Method of Payment 35 EXHIBIT A FORM OF CERTIFICATE EXHIBIT B FORM OF CERTIFICATE OF TRUST EXHIBIT C FORM OF NOTICE OF REPURCHASE REQUEST This AMENDED AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration RESTATED TRUST AGREEMENT, dated as of , 20 between EFCAR, LLC, a Delaware limited liability company, as depositor (the “Seller”), and Transfer [OWNER TRUSTEE], a [entity type], as Owner Trustee, amends and restates in its entirety that certain Trust Agreement, dated as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power , 20 between the Seller and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Owner Trustee.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS Definitions SECTION 1.01. Defined Terms 1 Section 1.1 Definitions SECTION 1.02. Other Defined Terms 1 Section 1.2 Construction ARTICLE II Guarantee SECTION 2.01. Guarantee 2 SECTION 2.02. Guarantee of Payment; Continuing Guarantee 3 SECTION 2.03. No Limitations 3 SECTION 2.04. Reinstatement 4 SECTION 2.05. Agreement to Pay; Subrogation 4 SECTION 2.06. Information 4 SECTION 2.07. Keepwell 4 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney III Indemnity, Subrogation and Subordination SECTION 3.01. Indemnity and Subrogation 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration SECTION 3.02. Contribution and Transfer of Units 8 Section 3.6 Agreements 8 Subrogation 5 SECTION 3.03. Subordination 5 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS Miscellaneous SECTION 4.01. Notices 6 SECTION 4.02. Waivers; Amendment 6 SECTION 4.03. Administrative Agent’s Fees and Expenses; Indemnification 7 SECTION 4.04. Survival 7 SECTION 4.05. Counterparts; Effectiveness, Successors and Assigns 8 Section 4.1 Distributions SECTION 4.06. Severability 8 SECTION 4.07. Right of Set-Off 8 SECTION 4.08. Governing Law; Jurisdiction; Consent to Record Holders 8 Section 4.2 Payment Service of Taxes Process 9 Section 4.3 Absence SECTION 4.09. WAIVER OF JURY TRIAL 9 SECTION 4.10. Headings 10 SECTION 4.11. Termination or Release 10 SECTION 4.12. Additional Guarantors 10 SECTION 4.13. Administrative Agent Appointed Attorney-in-Fact 10 SECTION 4.14. Certain Acknowledgments and Agreements 11 Schedule I Guarantors Exhibit I Form of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power Supplement GUARANTEE AGREEMENT dated as of February [], 2014 (this “Agreement”), among Seadrill Operating LP, a ▇▇▇▇▇▇▇▇ Islands limited partnership (“Operating”), Seadrill Capricorn Holdings LLC, a ▇▇▇▇▇▇▇▇ Islands limited liability company (“Capricorn Holdings”), Seadrill Partners ▇▇▇▇▇ LLC, a Delaware limited liability company (“U.S. ▇▇▇▇▇” and, together with Operating and Authority Capricorn Holdings, the “Borrowers”, and each, a “Borrower”), the Subsidiaries of the Manager 9 Section 5.2 Term Borrowers from time to time party hereto and Withdrawal Deutsche Bank AG New York Branch (“DBNY”), as Administrative Agent and Collateral Agent. Reference is made to the Credit Agreement dated as of February [], 2014 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Borrowers, the lenders party thereto and DBNY, as Administrative Agent and Collateral Agent. The Lenders have agreed to extend credit to the Borrowers subject to the terms and conditions set forth in the Credit Agreement. The obligations of the Manager 11 Section 5.3 Determinations by Lenders to extend such credit are conditioned upon, among other things, the Manager 11 Section 5.4 Exculpation, Indemnification, Advances execution and Insurance 12 Section 5.5 Duties delivery of this Agreement. The Guarantors (as defined below) are Affiliates of the Manager Borrowers, will derive substantial benefits from the extensions of credit to the Borrowers pursuant to the Credit Agreement and its Officers are willing to execute and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKSdeliver this Agreement in order to induce the Lenders to extend such credit. Accordingly, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15the parties hereto agree as follows:

TABLE OF CONTENTS. ARTICLE Article I DEFINITIONS INTERPRETATION 1 Section 1.1 1.01 Definitions 1 Section 1.2 Construction 4 ARTICLE 1.02 Meaning of “Outstanding” for Certain Purposes 6 Section 1.03 Interpretation 7 Section 1.04 Headings Etc 7 Section 1.05 Day not a Business Day 7 Section 1.06 Applicable Law 7 Section 1.07 Monetary References 7 Section 1.08 Invalidity, Etc. 7 Section 1.09 Language 8 Article II ORGANIZATION 4 ISSUE OF DEBENTURES 8 Section 2.1 Formation 4 2.01 Issue Unlimited 8 Section 2.2 Name 4 2.02 Terms of the Debentures of any Series 8 Section 2.3 2.03 Form of Debentures 9 Section 2.04 Form and Terms of Medium Term Notes 10 Section 2.05 Issuance, Certification and Delivery of Medium Term Notes 10 Section 2.06 Issue of Global Debentures 11 Section 2.07 Certification and Delivery of Additional Debentures 11 Section 2.08 Execution of Debentures 12 Section 2.09 Certification by Trustee 12 Section 2.10 Interim Debentures or Certificates 13 Section 2.11 Issue of Substitutional Debentures 13 Section 2.12 Purchase of Debentures by the Company 14 Section 2.13 Pledge and Re-Issue of Debentures 14 Section 2.14 Commencement of Interest 14 Section 2.15 Debentures to Rank Pari Passu 14 Article III REGISTRATION, TRANSFER AND EXCHANGE OF DEBENTURES OWNERSHIP OF DEBENTURES AND NOTICE TO DEBENTURE HOLDERS 15 Section 3.01 Fully Registered Office; Registered Agent; Principal Office; Other Offices 4 Debentures 15 Section 2.4 3.02 Global Debentures 15 Section 3.03 Transferee entitled to Registration 16 Section 3.04 No Notice of Trusts 16 Section 3.05 Registers open for Inspection 16 Section 3.06 Exchanges of Debentures 16 Section 3.07 Closing of Registers 17 Section 3.08 Charges for Registration, Transfer and Exchange 17 Section 3.09 Ownership of Debentures 18 Section 3.10 Payment Free from Equities 18 Article IV REDEMPTION OF DEBENTURES 18 Section 4.01 Applicability of Article 18 Section 4.02 Partial Redemption 18 Section 4.03 Notice of Redemption 19 Section 4.04 Debentures Due on Redemption Dates 19 Section 4.05 Deposit of Redemption Moneys 19 Section 4.06 Failure to Surrender Debentures Called for Redemption 20 Section 4.07 Cancellation of Debentures Redeemed 20 Article V COVENANTS OF THE COMPANY 20 Section 5.01 General Covenants 20 Section 5.02 Trustee’s Remuneration and Expenses 25 Section 5.03 Not to Accumulate Interest 25 Section 5.04 Performance of Covenants by Trustee 25 Article VI DEFAULT AND ENFORCEMENT 25 Section 6.01 Events of Default 25 Section 6.02 Acceleration on Default 26 Section 6.03 Waiver of Default 27 Section 6.04 Right of Trustee to Enforce Payment 27 Section 6.05 Application of Moneys by Trustee 28 Section 6.06 Notice of Payment by Trustee 29 Section 6.07 Trustee May Demand Production of Debentures 29 Section 6.08 Trustee Appointed Attorney 30 Section 6.09 Remedies Cumulative 30 Section 6.10 Judgment Against Company 30 Section 6.11 Immunity of Shareholders and Others 30 Section 6.12 Suits by Debenture Holders 30 Article VII SATISFACTION AND DISCHARGE 31 Section 7.01 Cancellation and Destruction 31 Section 7.02 Non-Presentation of Debentures 31 Section 7.03 Repayment of Unclaimed Moneys to Company 31 Section 7.04 Discharge 32 Section 7.05 Defeasance 32 Article VIII SUCCESSORS 33 Section 8.01 Certain Requirements in Respect of Mergers, etc. 33 Section 8.02 Vesting of Powers in Successor 34 Article IX MEETINGS OF DEBENTURE HOLDERS 34 Section 9.01 Right to Convene Meeting 34 Section 9.02 Notice 34 Section 9.03 Chairman 34 Section 9.04 Quorum 35 Section 9.05 Power to Adjourn 35 Section 9.06 Show of Hands 35 Section 9.07 Poll 35 Section 9.08 Voting 35 Section 9.09 Regulations 36 Section 9.10 Company and Trustee may be Represented 36 Section 9.11 Powers Exercisable by Extraordinary Resolution 36 Section 9.12 Meaning of “Extraordinary Resolution” 38 Section 9.13 Powers Cumulative 38 Section 9.14 Minutes 39 Section 9.15 Instruments in Writing 39 Section 9.16 Binding Effect of Resolutions 39 Section 9.17 Serial Meetings 39 Section 9.18 Covenants Applicable to a Particular Series or Issue of Debentures 40 Article X NOTICES 41 Section 10.01 Notice to Debenture Holders 41 Section 10.02 Notice to the Company and the Trustee 41 Section 10.03 Mail Service Interruption 42 Article XI SUPPLEMENTAL INDENTURES 42 Section 11.01 Provisions for Supplemental Indentures for Certain Purposes 4 42 Article XII CONCERNING THE TRUSTEE 44 Section 2.5 Qualification in Other Jurisdictions 4 12.01 Conditions Precedent to Trustee’s Obligations to Act Hereunder 44 Section 2.6 Powers 4 12.02 Evidence 44 Section 2.7 12.03 Experts and Advisers 44 Section 12.04 Documents, Moneys, etc. Held by Trustee 45 Section 12.05 Trustee not Required to Give Security 45 Section 12.06 Protection of Trustee 45 Section 12.07 Compensation and Indemnification of Trustee 46 Section 12.08 Replacement of Trustee 46 Section 12.09 Power of Attorney 5 Trustee to Protect Interests 47 Section 2.8 Term 6 12.10 Acceptance of Trust 47 Section 2.9 12.11 Duty of Trustee 47 Section 12.12 Provisions Relieving Liability 47 Section 12.13 Material Conflict of Interest 47 Section 12.14 Notice of Events of Default 47 Section 12.15 Certificate of Formation 6 ARTICLE III MEMBERS No Default 47 Section 12.16 Trustee May Rely on Certain Documents 48 Section 12.17 Evidence of Compliance 48 Article XIII COUNTERPARTS AND UNITS 6 FORMAL DATE 49 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration 13.01 Counterparts and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power and Authority Formal Date 49 THIS TRUST INDENTURE made as of the Manager 9 Section 5.2 Term and Withdrawal 15th day of December, 2004. TRANSCANADA PIPELINES LIMITED, a company incorporated under the Manager 11 Section 5.3 Determinations by laws of Canada, having its registered office in the Manager 11 Section 5.4 ExculpationCity of Calgary, Indemnificationin the Province of Alberta (hereinafter referred to as the “Company”) CIBC MELLON TRUST COMPANY, Advances and Insurance 12 Section 5.5 Duties a trust corporation incorporated under the laws of Canada, having an office in the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement City of Expenses 14 ARTICLE VI BOOKSCalgary, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15in the Province of Alberta (hereinafter referred to as the “Trustee”)

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 SECTION 1. Escrow Agent 2 Section 1.1 Definitions 1 1.01. Appointment of Escrow Agent 2 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 1.02. Instruction; Etc. 3 Section 1.03. Initial Escrow Amount; Issuance of Escrow Receipts 4 Section 2.1 Formation 1.04. Payments to Receiptholders 4 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 1.05. Mutilated, Destroyed, Lost or Stolen Escrow Receipt 5 Section 2.8 Term 1.06. Additional Escrow Amounts 5 Section 1.07. Resignation or Removal of Escrow Agent 5 Section 1.08. Persons Deemed Owners 6 Section 2.9 Certificate of Formation 1.09. Further Assurances 6 ARTICLE III MEMBERS AND UNITS SECTION 2. Paying Agent 6 Section 3.1 Members 2.01. Appointment of Paying Agent 6 Section 3.2 Authorization to Issue Units 2.02. Establishment of Paying Agent Account 7 Section 3.3 Certificates 2.03. Payments from Paying Agent Account 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 2.04. Withholding Taxes 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 2.05. Resignation or Removal of Paying Agent 8 Section 4.1 Distributions to Record Holders 2.06. Notice of Final Withdrawal 8 Section 4.2 Payment of Taxes SECTION 3. Payments 9 Section 4.3 Absence of Certain SECTION 4. Other Rights Actions 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power SECTION 5. Representations and Authority Warranties of the Manager Escrow Agent 9 Section 5.2 Term SECTION 6. Representations and Withdrawal Warranties of the Manager Paying Agent 10 SECTION 7. Indemnification 11 Section 5.3 Determinations by SECTION 8. Amendment, Etc. 12 SECTION 9. Notices 12 SECTION 10. Transfer 13 SECTION 11. Entire Agreement 13 SECTION 12. Governing Law 13 SECTION 13. Waiver of Jury Trial Right 13 SECTION 14. Counterparts 13 SECTION 15. Rights of Holders 14 Exhibit A Escrow Receipt Escrow Agreement 2016-1A Exhibit B Withdrawal Certificate Escrow Agreement 2016-1A ESCROW AND PAYING AGENT AGREEMENT (Class A) dated as of June 13, 2016, (as amended, modified or supplemented from time to time, this “Agreement”) among U.S. BANK NATIONAL ASSOCIATION, a national banking association, as Escrow Agent (in such capacity, together with its successors in such capacity, the Manager 11 Section 5.4 Exculpation“Escrow Agent”); M▇▇▇▇▇ S▇▇▇▇▇▇ & CO. LLC, IndemnificationCREDIT SUISSE SECURITIES (USA) LLC and G▇▇▇▇▇▇, Advances SACHS & CO. for themselves and Insurance 12 Section 5.5 Duties on behalf of the Manager several Underwriters of the Certificates referred to below (the “Underwriters” and together with their respective transferees and assigns as registered owners of the Certificates, the “Investors”) under the Underwriting Agreement referred to below; WILMINGTON TRUST, NATIONAL ASSOCIATION, a national banking association, not in its Officers individual capacity except as otherwise expressly provided herein, but solely as trustee (in such capacity, together with its successors in such capacity, the “Pass Through Trustee”) under the Pass Through Trust Agreement referred to below; and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKSWILMINGTON TRUST, RECORDSNATIONAL ASSOCIATION, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15a national banking association, as paying agent hereunder (in such capacity, together with its successors in such capacity, the “Paying Agent”).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS Page Article 1 Section 1.1 Definitions and Other Provisions of General Application 1 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered OfficeSECTION 101. Definitions1 SECTION 102. Compliance Certificates and Opinions9 SECTION 103. Form of Documents Delivered to Trustee9 SECTION 104. Acts of Holders10 SECTION 105. Notices, etc. to Trustee or the Company11 SECTION 106. Notice to Holders; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power Waiver11 SECTION 107. Effect of Attorney 5 Section 2.8 Term 6 Section 2.9 Headings and Table of Contents12 SECTION 108. Successors and Assigns12 SECTION 109. Separability Clause12 SECTION 110. Benefits of Indenture12 SECTION 111. Governing Law12 SECTION 112. Legal Holidays13 SECTION 113. No Recourse13 SECTION 114. Incorporation by Reference of Trust Indenture Act13 SECTION 115. Rules of Construction13 SECTION 116. Force Majeure14 Article 2 Security Forms 14 SECTION 201. Forms Generally14 SECTION 202. Form of Trustee’s Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Authentication14 SECTION 203. Securities Issuable in Global Form15 Article 3 The Securities 15 SECTION 301. Amount Unlimited; Issuable in Series15 SECTION 302. Denominations18 SECTION 303. Execution, Authentication, Delivery and Dating18 SECTION 304. Temporary Securities20 SECTION 305. Registration, Registration of Transfer and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Exchange22 SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities24 SECTION 307. Payment of Taxes 9 Section 4.3 Absence Interest; Interest Rights Preserved; Optional Interest Reset25 SECTION 308. Optional Extension of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power Maturity27 SECTION 309. Persons Deemed Owners27 SECTION 310. Cancellation28 SECTION 311. Computation of Interest28 SECTION 312. Currency and Authority Manner of the Manager 9 Section 5.2 Term Payments in Respect of Securities28 SECTION 313. Appointment and Withdrawal Resignation of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Successor Exchange Rate Agent31

TABLE OF CONTENTS. ARTICLE I DEFINITIONS Section Heading Page Section 1. Authorization of Notes 1 Section 1.1 Definitions 1.1. Authorization of Notes 1 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 1.2. Changes in Interest Rate 1 Section 2. Sale and Purchase of Notes 4 Section 2.1 Formation 2.1. Sale and Purchase of Series A Notes 4 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 2.2. Additional Series of Attorney Notes 5 Section 2.8 Term 3. Closing 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 3.1. Initial Closing 6 Section 3.1 Members 3.2. Additional Note Closings 6 Section 3.2 Authorization 4. Conditions to Issue Units Closing 7 Section 3.3 4.1. Representations and Warranties 7 Section 4.2. Performance; No Default 7 Section 4.3. Compliance Certificates 7 Section 3.4 Record Holders 4.4. Opinions of Counsel 7 Section 3.5 Registration and Transfer 4.5. Purchase Permitted By Applicable Law, Etc 7 Section 4.6. Sale of Units Other Notes 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 4.7. Payment of Special Counsel Fees 8 Section 4.1 Distributions to Record Holders 4.8. Private Placement Number 8 Section 4.2 4.9. Changes in Corporate Structure 8 Section 4.10. Funding Instructions 8 Section 4.11. Debt Rating 9 Section 4.12. [reserved] 9 Section 4.13. Proceedings and Documents 9 Section 4.14. Conditions to Issuance of Additional Notes 9 Section 5. Representations and Warranties of the Company 10 Section 5.1. Organization; Power and Authority 10 Section 5.2. Authorization, Etc 10 Section 5.3. Disclosure 10 Section 5.4. Organization and Ownership of Shares of Subsidiaries; Affiliates 11 Section 5.5. Financial Statements; Material Liabilities 12 Section 5.6. Compliance with Laws, Other Instruments, Etc 12 Section 5.7. Governmental Authorizations, Etc 12 Section 5.8. Litigation; Observance of Agreements, Statutes and Orders 12 Section 5.9. Taxes 13 Section 5.10. Title to Property 13 Section 5.11. Licenses, Permits, Etc 13 Section 5.12. Compliance with Employee Benefit Plans 14 Section 5.13. Private Offering by the Company 15 Section 5.14. Use of Proceeds; Margin Regulations 15 Section 5.15. Existing Indebtedness; Future Liens 15 Section 5.16. Foreign Assets Control Regulations, Etc. 16 Section 5.17. [Reserved] 17 Section 5.18. Environmental Matters 17 Section 5.19. Investment Company Act 17 Section 5.20. Ranking of Obligations 17 Section 6. Representations of the Purchasers 18 Section 6.1. Purchase for Investment 18 Section 6.2. Source of Funds 18 Section 6.3. Legends 20 Section 6.4. Investment Experiences; Access to Information 20 Section 6.5. Authorization 21 Section 6.6. Restricted Securities 21 Section 6.7. No Public Market 21 Section 6.8. Reliance 21 Section 6.9. Acknowledgment 21 Section 7. Information as to Company 22 Section 7.1. Financial and Business Information 22 Section 7.2. Officer’s Certificate 25 Section 7.3. Visitation 25 Section 7.4. Electronic Delivery 26 Section 8. Payment and Prepayment of the Notes 27 Section 8.1. Maturity 27 Section 8.2. Optional Prepayments with Prepayment Settlement Amount 27 Section 8.3. Allocation of Partial Prepayments 28 Section 8.4. Maturity; Surrender, Etc. 28 Section 8.5. Purchase of Notes 28 Section 8.6. Make‑Whole Amount; Prepayment Settlement Amount 28 Section 8.7. Payments Due on Non‑Business Days 31 Section 8.8. Change in Control 31 Section 9. Affirmative Covenants. 32 Section 9.1. Compliance with Laws 32 Section 9.2. Insurance 33 Section 9.3. Maintenance of Properties 33 Section 9.4. Payment of Taxes 9 and Claims 33 Section 4.3 Absence 9.5. Corporate Existence, Etc 33 Section 9.6. Books and Records 33 Section 9.7. Subsidiary Guarantors 34 Section 9.8. Rating Confirmation 35 Section 9.9. Most Favored Lender 35 Section 9.10. Ranking of Obligations 36 Section 9.11. Investment Policies 37 Section 9.12. Status of BDC and RIC 37 Section 10. Negative Covenants. 37 Section 10.1. Transactions with Affiliates 37 Section 10.2. Fundamental Changes 38 Section 10.3. Line of Business 40 Section 10.4. Economic Sanctions, Etc. 40 Section 10.5. Liens 40 Section 10.6. Restricted Payments 42 Section 10.7. Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Financial Covenants 44 Section 5.1 Power 10.8. SBIC Guarantee 45 Section 11. Events of Default 45 Section 12. Remedies on Default, Etc 48 Section 12.1. Acceleration 48 Section 12.2. Holder Action 48 Section 12.3. Rescission 49 Section 12.4. No Waivers or Election of Remedies, Expenses, Etc 49 Section 13. Registration; Exchange; Substitution of Notes 49 Section 13.1. Registration of Notes 49 Section 13.2. Transfer and Authority Exchange of Notes 50 Section 13.3. Replacement of Notes 51 Section 14. Payments on Notes 51 Section 14.1. Place of Payment 51 Section 14.2. Payment by Wire Transfer 51 Section 14.3. Tax Forms 52 Section 15. Expenses, Etc 53 Section 15.1. Transaction Expenses 53 Section 15.2. Certain Taxes 54 Section 15.3. Survival 54 Section 16. Survival of Representations and Warranties; Entire Agreement 54 Section 17. Amendment and Waiver 54 Section 17.1. Requirements 54 Section 17.2. Solicitation of Holders of Notes 55 Section 17.3. Binding Effect, Etc 56 Section 17.4. Notes Held by Company, Etc 56 Section 18. Notices 56 Section 19. Reproduction of Documents 57 Section 20. Confidential Information 58 Section 21. Substitution of Purchaser 59 Section 22. Miscellaneous 59 Section 22.1. Successors and Assigns 59 Section 22.2. Accounting Terms 60 Section 22.3. Severability 60 Section 22.4. Construction, Etc 60 Section 22.5. Counterparts; Electronic Contracting 61 Section 22.6. Governing Law 62 Section 22.7. Jurisdiction and Process; Waiver of Jury Trial 62 Schedule A — Defined Terms Schedule 1(A) — Form of 7.54% Series A Senior Note, Tranche A, due October 29, 2027 Schedule 1(B) — Form of 7.60% Series A Senior Note, Tranche B, due October 29, 2028 Schedule 1(C) — Form of 7.66% Series A Senior Notes, Tranche C, due October 29, 2029 Schedule 4.4(a) — Form of Opinion of Special Counsel for the Company Schedule 4.4(b) — Form of Opinion of Special Counsel for the Purchasers Schedule 5.3 — Disclosure Materials Schedule 5.4 — Subsidiaries of the Manager 9 Section 5.2 Term Company and Withdrawal Ownership of Subsidiary Stock Schedule 5.5 — Financial Statements Schedule 5.15 — Existing Indebtedness Schedule 10.1 — Transactions with Affiliates Schedule 10.6 — Excluded Assets Exhibit S — Form of Supplement to Master Note Purchase Agreement Purchaser Schedule — Information Relating to Purchasers 7.54% Series A Senior Notes, Tranche A, due October 29, 2027 7.60% Series A Senior Notes, Tranche B, due October 29, 2028 7.66% Series A Senior Notes, Tranche C, due October 29, 2029 To Each of the Manager 11 Section 5.3 Determinations by Purchasers Listed in the Manager 11 Section 5.4 ExculpationPurchaser Schedule Hereto: Ladies and Gentlemen: Trinity Capital Inc., Indemnificationa Maryland corporation (the “Company”), Advances and Insurance 12 Section 5.5 Duties agrees with each of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Purchasers as follows:

TABLE OF CONTENTS. ARTICLE I SECTION 1. DEFINITIONS 1 Section 1.1 Definitions 1 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered OfficeSECTION 2. APPOINTMENT AND DUTIES OF THE MANAGER 2 SECTION 3. DEVOTION OF TIME; Registered AgentADDITIONAL ACTIVITIES 7 SECTION 4. AGENCY 8 SECTION 5. BANK ACCOUNTS 8 SECTION 6. RECORDS; Principal OfficeCONFIDENTIALITY 8 SECTION 7. OBLIGATIONS OF MANAGER; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS RESTRICTIONS 8 SECTION 8. COMPENSATION 9 SECTION 9. EXPENSES OF THE COMPANY 11 SECTION 10. CALCULATIONS OF EXPENSES 13 SECTION 11. LIMITS OF MANAGER RESPONSIBILITY; ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇▇. NO JOINT VENTURE 13 SECTION 13. TERM; TERMINATION 13 SECTION 14. ASSIGNMENT 15 SECTION 15. TERMINATION FOR CAUSE 15 SECTION 16. ACTION UPON TERMINATION 15 SECTION 17. RELEASE OF MONEY OR OTHER PROPERTY UPON WRITTEN REQUEST 16 SECTION 18. NOTICES 17 SECTION 19. BINDING NATURE OF AGREEMENT; SUCCESSORS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS ASSIGNS 18 SECTION 20. ENTIRE AGREEMENT 18 SECTION 21. CONTROLLING LAW 18 SECTION 22. INDULGENCES, NOT WAIVERS 18 SECTION 23. TITLES NOT TO AFFECT INTERPRETATION 18 SECTION 24. EXECUTION IN COUNTERPARTS 18 SECTION 25. PROVISIONS SEPARABLE 18 SECTION 26. GENDER 19 THIS AMENDED AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V RESTATED MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power ADVISORY AGREEMENT, is made as of April 25, 2013 (the “Agreement”) by and Authority of among NEWCASTLE INVESTMENT CORP., a Maryland corporation (the Manager 9 Section 5.2 Term “Company”), and Withdrawal of FIG LLC, a Delaware limited liability company (together with its permitted assignees, the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15“Manager”).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section SECTION 1.1 Definitions Generally 1 Section SECTION 1.2 Construction 4 Definition of Certain Terms 1 ARTICLE II ORGANIZATION 4 Section GENERAL TERMS OF THE NOTES 5 SECTION 2.1 Formation 4 Section Form 5 SECTION 2.2 Name 4 Section Title, Amount and Payment of Principal and Interest 5 SECTION 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section Regular Record Date 7 SECTION 2.4 Purposes 4 Section Deferral of Interest 7 SECTION 2.5 Qualification in Other Jurisdictions 4 Section Interest Payments and Redemption 9 SECTION 2.6 Powers 4 Section Calculation Agent 9 SECTION 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 Transfer and Exchange 9 ARTICLE III MEMBERS AND UNITS 6 Section REDEMPTION 10 SECTION 3.1 Members 6 Section Optional Redemption of Notes 10 SECTION 3.2 Authorization to Issue Units 7 Section Redemption Following a Tax Event 10 SECTION 3.3 Certificates 7 Section Redemption Following a Rating Agency Event 10 SECTION 3.4 Record Holders 7 Section Calculation of Redemption Price 10 SECTION 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 No Sinking Fund; Mandatory Redemption 10 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section AMENDMENTS 11 SECTION 4.1 Distributions to Record Definitions 11 SECTION 4.2 Amendments without Consent of Holders 8 Section 4.2 Payment 11 SECTION 4.3 Amendments with Consent of Taxes 9 Section 4.3 Absence Holders 11 SECTION 4.4 Notice of Certain Other Rights 9 Redemption 12 SECTION 4.5 Events of Default 13 SECTION 4.6 Acceleration 14 SECTION 4.7 Control By Holders 15 SECTION 4.8 Notices 15 SECTION 4.9 SEC Reports 16 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section SUBORDINATION 16 SECTION 5.1 Power and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 Subordination 16 ARTICLE VI BOOKSMISCELLANEOUS PROVISIONS 17 SECTION 6.1 Ratification of Base Indenture 17 SECTION 6.2 Trustee Not Responsible for Recitals 17 SECTION 6.3 Table of Contents, RECORDSHeadings, ACCOUNTING AND REPORTS 15 Section 6.1 Records etc 17 SECTION 6.4 Counterpart Originals 17 SECTION 6.5 Governing Law 17 Exhibit A: Form of Series 2025B Junior Subordinated Notes due 2056 THIS NINTH SUPPLEMENTAL INDENTURE, dated as of August 25, 2025 (the “Ninth Supplemental Indenture”), is between Energy Transfer LP, a Delaware limited partnership (the “Partnership”), and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15U.S. Bank Trust Company, National Association, a national banking association, as trustee (the “Trustee”).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 SECTION 1.1. Definitions 1 Section 1.2 Construction ARTICLE II. TRUST INDENTURE ACT 4 ARTICLE II ORGANIZATION SECTION 2.1. Trust Indenture Act; Application 4 Section 2.1 Formation SECTION 2.2. List of Holders 4 Section 2.2 Name 4 Section 2.3 Registered OfficeSECTION 2.3. Reports by the Guarantee Trustee 5 SECTION 2.4. Periodic Reports to the Guarantee Trustee 5 SECTION 2.5. Evidence of Compliance with Conditions Precedent 5 SECTION 2.6. Events of Default; Registered AgentWaiver 5 SECTION 2.7. Event of Default; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term Notice 6 Section 2.9 Certificate of Formation SECTION 2.8. Conflicting Interests 6 ARTICLE III MEMBERS III. POWERS, DUTIES AND UNITS RIGHTS OF THE GUARANTEE TRUSTEE 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration SECTION 3.1. Powers and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager Guarantee Trustee 6 SECTION 3.2. Certain Rights of Guarantee Trustee 8 SECTION 3.3. Indemnity 9 SECTION 3.4. Expenses 9 ARTICLE IV. GUARANTEE TRUSTEE 9 SECTION 4.1. Guarantee Trustee; Eligibility 9 SECTION 4.2. Appointment, Removal and Resignation of the Guarantee Trustee 10 ARTICLE V. GUARANTEE 11 SECTION 5.1. Guarantee 11 SECTION 5.2. Waiver of Notice and Demand 11 SECTION 5.3. Obligations Not Affected 11 SECTION 5.4. Rights of Holders 12 SECTION 5.5. Guarantee of Payment 12 SECTION 5.6. Subrogation 12 SECTION 5.7. Independent Obligations 13 ARTICLE VI. COVENANTS AND SUBORDINATION 13 SECTION 6.1. Subordination 13 SECTION 6.2. Pari Passu Guarantees 13 ARTICLE VII. TERMINATION 13 SECTION 7.1. Termination 13 ARTICLE VIII. MISCELLANEOUS 14 SECTION 8.1. Successors and Assigns 14 SECTION 8.2. Amendments 14 SECTION 8.3. Notices 14 SECTION 8.4. Benefit 15 SECTION 8.5. Interpretation 15 SECTION 8.6. Governing Law 16 SECTION 8.7. Counterparts 16 THIS GUARANTEE AGREEMENT, dated as of November 7, 2003, is executed and delivered by Mountain National Bancshares, Inc., a Tennessee corporation (the “Guarantor”), having its Officers principal office at ▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance WILMINGTON TRUST COMPANY, a Delaware banking corporation, as trustee (the “Guarantee Trustee”), for the benefit of the Holders (as defined herein) from time to time of the Capital Securities (as defined herein) of MNB CAPITAL TRUST I, a Delaware statutory trust (the “Issuer Trust”). Pursuant to an Amended and Restated Trust Agreement (the “Trust Agreement”), dated of even date herewith, among Mountain National Bancshares, Inc., as Depositor, Wilmington Trust Company, as Property Trustee (the “Property Trustee”), Wilmington Trust Company, as Delaware Trustee (the “Delaware Trustee”, and together with the Property Trustee, collectively, the “Issuer Trustees”), the Administrators named therein and the Holders from time to time of undivided beneficial interests in the assets of the Issuer Trust, the Issuer Trust is issuing up to $5,500,000 aggregate Liquidation Amount (as defined herein) of its Floating Rate Capital Securities (the “Capital Securities”), representing preferred undivided beneficial interests in the assets of the Issuer Trust and having the terms set forth in the Trust Agreement; The Capital Securities will be issued by Third Parties 14 Section 5.8 Reimbursement the Issuer Trust and the proceeds thereof, together with the proceeds from the issuance of Expenses 14 ARTICLE VI BOOKSthe Issuer Trust’s Common Securities (the “Common Securities”), RECORDSrepresenting common undivided beneficial interests in the assets of the Issuer Trust of the Guarantor, ACCOUNTING AND REPORTS 15 Section 6.1 Records will be used to purchase the Junior Subordinated Debentures due December 31, 2033 (the “Junior Subordinated Debentures”) of the Guarantor, which will be deposited with Wilmington Trust Company, as Property Trustee under the Trust Agreement, as trust assets; and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15As an inducement to the Holders to purchase the Capital Securities, the Guarantor is willing to irrevocably and unconditionally agree, to the extent set forth herein, to pay to the Holders of the Capital Securities the Guarantee Payments (as defined herein) and to make certain other payments on the terms and conditions set forth herein.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions 1 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 4 SECTION 2. RECIPIENT RESPONSIBILITIES 7 Section 2.1 Formation 4 General Grant Requirements 7 Section 2.2 Name 4 Administrative Responsibilities 8 C. PARTICIPATE IN ACTIVITIES EOHHS DEEMS NECESSARY TO MONITOR THE RESPONSE TO GRANT SOLICITATION IMPLEMENTATION AND STATUS DURING THE TERM OF THE GRANT AGREEMENT TERM, AND TO SUPPORT THE GRANT OBJECTIVES. 8 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Reporting Requirements 8 SECTION 3. EOHHS RESPONSIBILITIES 9 Section 3.1 Members 6 Grant Agreement Management 9 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Payment 10 SECTION 4. PAYMENT 10 Section 4.1 Distributions to Record Holders 8 Payment 10 Section 4.2 Payment of Taxes 9 Supporting Documentation 10 Section 4.3 Absence Return or Recoupment of Certain Other Rights 9 ARTICLE V MANAGEMENT Funds 10 SECTION 5. ADDITIONAL TERMS AND OPERATION OF BUSINESS 9 CONDITIONS 10 Section 5.1 Power Grant Agreement Term 10 Section 5.2 Assignment 10 Section 5.3 Independent Contractors 10 Section 5.4 Publications Regarding or Derived from this Grant Agreement 11 Section 5.5 Prohibited Activities and Authority Conflict of Interest 11 Section 5.6 Insurance for Recipient’s Employees 11 Section 5.7 Waiver 11 Section 5.8 Indemnification 12 Section 5.9 Compliance with Laws 12 Section 5.10 Counterparts 12 Section 5.11 No Third-Party Enforcement 12 Section 5.12 Section Headings 12 Section 5.13 Administrative Procedures Not Covered 12 Section 5.14 Effect of Invalidity Clauses 12 Section 5.15 Corrective Action Plan 12 Section 5.16 EOHHS’ Option to Modify Scope of Work 13 Section 5.17 Authorizations 13 Section 5.18 Amendments 13 Section 5.19 Notification of Administrative Change 13 Section 5.20 Termination 13 Section 5.21 Record Keeping, Audit and Inspection of Records 14 Section 5.22 Use and Disclosure of Data 14 Section 5.23 Equal Employment Opportunity 14 Section 5.24 Restrictions on the Use of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers Commonwealth Seal 14 Section 5.6 Outside Activities 5.25 Grant Program Officer 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement 5.26 Order of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS Precedence/Entire Agreement 15 Section 6.1 Records 5.27 Notices 15 Definitions The following terms appearing capitalized throughout this Grant Agreement and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15appendices have the following meanings.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS SECTION 1.1 Certain Defined Terms 1 Section 1.1 Definitions 1 Section SECTION 1.2 Accounting Terms and Determinations 8 SECTION 1.3 Rules of Construction 4 9 ARTICLE II ORGANIZATION 4 Section LETTER OF CREDIT, ADVANCES AND LOANS 9 SECTION 2.1 Formation 4 Section Issuance of Letter of Credit and Advances 9 SECTION 2.2 Name 4 Section Term Loan. 10 SECTION 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section Interest on Overdue Amounts 11 SECTION 2.4 Purposes 4 Section Interest Rate Adjustment 11 SECTION 2.5 Qualification Prepayments of Advances and Loans 12 SECTION 2.6 Termination or Reduction of Available Amount 13 SECTION 2.7 Increased Costs/Change in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section Laws 13 SECTION 2.8 Term 6 Section Reserved 15 SECTION 2.9 Certificate of Formation 6 Payments and Computations 15 SECTION 2.10 Payment on Non-Business Days 16 SECTION 2.11 Book Entries 16 SECTION 2.12 Taxes. 16 ARTICLE III MEMBERS AND UNITS 6 Section CONDITIONS PRECEDENT 17 SECTION 3.1 Members 6 Section Conditions Precedent to Issuance of Letter of Credit 17 SECTION 3.2 Authorization Conditions Precedent to Issue Units 7 Section Each Drawing or Advance 19 SECTION 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 Conditions Precedent to Term Loan 19 ARTICLE IV DISTRIBUTIONS FEES 20 SECTION 4.1 Fee Agreement 20 ARTICLE V OBLIGATIONS ABSOLUTE 20 ARTICLE VI REPRESENTATIONS AND REDEMPTIONS 8 Section 4.1 Distributions WARRANTIES 21 SECTION 6.1 Due Existence 21 SECTION 6.2 Authorization; No Conflict 21 SECTION 6.3 Valid and Binding Nature 21 SECTION 6.4 Litigation and Contingent Liabilities 21 SECTION 6.5 Governmental Approvals 22 SECTION 6.6 Offering Memorandum 22 SECTION 6.7 No Default 22 SECTION 6.8 Full Disclosure 22 SECTION 6.9 Compliance of Agreement and Transaction Documents; No Defaults or Events of Default 22 SECTION 6.10 Compliance with Law and Related Documents 23 SECTION 6.11 Accuracy and Completeness of Other Information 23 SECTION 6.12 Representations and Warranties Contained in the Transaction Documents 23 SECTION 6.13 Pending Legislation and Decisions 23 SECTION 6.14 Federal Reserve Board Regulations 23 SECTION 6.15 Interest 23 SECTION 6.16 Tax-Exempt Status 23 SECTION 6.17 Fiscal Biennium 23 SECTION 6.18 Commercial Paper Notes 24 SECTION 6.19 Parity Obligation 24 SECTION 6.20 Environmental Matters 24 ARTICLE VII COVENANTS 24 SECTION 7.1 Reporting Requirements 24 SECTION 7.2 Accounting Records 25 SECTION 7.3 Reserved 25 SECTION 7.4 Payments 25 SECTION 7.5 Security and Pledge 25 SECTION 7.6 Punctual Payment 26 SECTION 7.7 Use of Proceeds 26 SECTION 7.8 Other Bank Facilities 26 SECTION 7.9 Notices to Record Holders 8 Section 4.2 Payment Rating Agencies 26 SECTION 7.10 Performance of Taxes 9 Section 4.3 Absence Transaction Documents 26 SECTION 7.11 Notice of Certain Other Rights 9 Events 26 SECTION 7.12 Maintenance of Issuing and Paying Agent and Dealer 26 SECTION 7.13 No Conflicting Agreements 27 SECTION 7.14 Amendments to Transaction Documents 27 SECTION 7.15 Total Outstanding 27 SECTION 7.16 Tax Exemption 27 SECTION 7.17 Offering Memorandum 27 SECTION 7.18 Further Assurance 27 SECTION 7.19 Ratings 27 SECTION 7.20 Most Favored Nations Clause 27 SECTION 7.21 Acceleration Remedy 28 SECTION 7.22 Notices 28 SECTION 7.23 Inspection of Books 28 SECTION 7.24 Compliance with Laws, Etc 28 SECTION 7.25 Covenants Contained in the Transaction Documents 28 SECTION 7.26 Alternate Agreement 28 SECTION 7.27 Federal Reserve Board Regulations 28 SECTION 7.28 Remarketing 29 ARTICLE V MANAGEMENT AND OPERATION VIII EVENTS OF BUSINESS 9 Section 5.1 Power and Authority DEFAULT, REMEDIES 29 SECTION 8.1 Events of Default 29 SECTION 8.2 Remedies. 32 SECTION 8.3 No Remedy Exclusive. 34 ARTICLE IX MISCELLANEOUS 34 SECTION 9.1 Payments to the Bank 34 SECTION 9.2 Liability of the Manager 9 Section 5.2 Term Bank 34 SECTION 9.3 Indemnification 35 SECTION 9.4 Costs and Withdrawal Expenses 36 SECTION 9.5 Participants 37 SECTION 9.6 Successors and Assigns. 37 SECTION 9.7 Modification or Waiver of the Manager 11 Section 5.3 Determinations This Agreement 38 SECTION 9.8 No Waiver of Rights by the Manager 11 Section 5.4 ExculpationBank; Cumulative Rights. 38 SECTION 9.9 Notices 38 SECTION 9.10 Counterparts 39 SECTION 9.11 Certificates, IndemnificationEtc 39 SECTION 9.12 Term of Agreement 39 SECTION 9.13 Severability 40 SECTION 9.14 WAIVER OF IMMUNITY 40 SECTION 9.15 WAIVER OF JURY TRIAL 41 SECTION 9.16 Governing Law 41 SECTION 9.17 Consents 41 SECTION 9.18 Source of Funds 41 SECTION 9.19 Survival 41 SECTION 9.20 Headings 41 SECTION 9.21 Beneficiaries 41 SECTION 9.22 Patriot Act 42 EXHIBIT A – FORM OF REVOLVING NOTE ................................................................ A-1 EXHIBIT B – FORM OF TERM NOTE ............................................................................ B-1 EXHIBIT C – FORM OF REQUEST FOR EXTENSION ................................................. C-1 EXHIBIT D – FORM OF NON-ISSUANCE NOTICE ...................................................... D-1 EXHIBIT E – CERTIFICATE RE: CONDITIONS PRECEDENT TO TERM LOAN......E-1 APPENDIX I – FORM OF STANDBY LETTER OF CREDIT............................................ A-I-1 AGREEMENT, Advances dated as of November 1, 2011, is entered into by and Insurance 12 Section 5.5 Duties of between TEXAS PUBLIC FINANCE AUTHORITY (the Manager “Authority”), and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15SUMITOMO MITSUI BANKING

TABLE OF CONTENTS. ARTICLE I USAGE AND DEFINITIONS 1 2 Section 1.1 Definitions 1 2 Section 1.2 Construction 4 Usage 11 ARTICLE II ORGANIZATION 4 OF THE TRUST 12 Section 2.1 Formation 4 Name 12 Section 2.2 Name 4 Office 13 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Purposes and Powers 13 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Banking Activities 14 Section 5.7 Reliance by 2.5 Appointment of the Titling Trustee and Delaware Trustee 15 Section 2.6 Contribution and Conveyance of Titling Trust Assets 15 Section 2.7 Declaration of Trust 15 Section 2.8 Representations and Warranties of World Omni as Titling Trust Administrator 16 Section 2.9 Tax Reporting and Characterization 17 Section 2.10 Execution of Documents 17 Section 2.11 Conduct of Operations 17 Section 2.12 No State Law Partnership 21 Section 2.13 Titling of Titling Trust Vehicles 21 Section 2.14 Enforcement of Titling Trust Leases 21 Section 2.15 Liability to Third Parties 14 21 Section 5.8 Reimbursement 2.16 No Personal Liability of Expenses 14 any Holder 22 Section 2.17 Limited Liability and Bankruptcy Remoteness 22 Section 2.18 Term. 22 ARTICLE VI BOOKSIII MANAGEMENT OF THE TITLING TRUST 22 Section 3.1 General Management of the Titling Trust 22 Section 3.2 Restrictions on the Power of the Titling Trustee 23 Section 3.3 Duties and Obligations of the Titling Trustee 23 Section 3.4 Delegation of Certain Titling Trustee Duties and Ob1iations to the Titling Trust Administrator 25 ARTICLE IV SPECIFIED INTERESTS 25 Section 4.1 Designation of the Specified Interests 25 Section 4.2 Capital Contributions 27 Section 4.3 Allocation of Specified Assets; Servicing Agreements 28 Section 4.4 Asset Removal Procedures 33 Section 4.5 Accounts of the Titling Trust 34 Section 4.6 Titling Trust Debts 34 ARTICLE V THE CERTIFICATES 34 Section 5.1 Authentication and Delivery; Form 34 Section 5.2 Mutilated, RECORDSDestroyed, ACCOUNTING AND REPORTS 15 Lost or Stolen Certificates 35 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 155.3 Persons Deemed Holders 35

TABLE OF CONTENTS. (This Table of Contents convenience of reference only for the Loan Agreement is for and is not intended to define, limit or describe the scope or intent of any provisions of this Loan Agreement.) Article Section Heading Page --------------- ------- ---- ARTICLE I ONE PREAMBLES, DEFINITIONS AND ACCOUNTING TERMS 1 Section 1.1 1.01 Incorporation of Preambles 1 Section 1.02 Definitions 1 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 1.03 Accounting Terms 7 Section 3.3 Certificates 1.04 General Terms 7 ARTICLE TWO THE LOAN 8 Section 2.01 The Loan 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 2.02 Intentionally Omitted 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 2.03 Intentionally Omitted 8 Section 4.1 Distributions to Record Holders 2.04 The Note 8 Section 4.2 2.05 Intentionally Omitted 8 Section 2.06 Prepayment 8 Section 2.07 Calculation of Interest; Usury Savings Clause 8 Section 2.08 Place and Manner of Payment 9 Section 2.09 Bank's Right of Set-Off 9 Section 2.10 Application of Payments 9 Section 2.11 Intentionally Omitted 9 Section 2.12 Late Charges 9 ARTICLE THREE CONDITIONS TO EFFECTIVENESS OF THIS AGREEMENT AND LENDING HEREUNDER 10 Section 3.01 Representations and Warranties 10 Section 3.02 No Default 10 Section 3.03 Loan Documents 10 Section 3.04 Opinion of Borrower's and Guarantor's Counsel 10 Section 3.05 Supporting Documents 10 Section 3.06 Proceedings 11 Section 3.07 Lessor Subordination Agreements 11 Section 3.08 Payment of Taxes 9 Fees and Disbursements of Bank's Counsel 11 Section 4.3 Absence 3.09 Pre-Funding Audit 11 ARTICLE FOUR REPRESENTATIONS AND WARRANTIES 11 Section 4.01 Organization, Corporate Powers, etc. 11 Section 4.02 Authorization of Certain Loans, etc. 11 Section 4.03 Consents and Approvals 12 Section 4.04 Financial Statements 12 Section 4.05 Tax Returns and Payments 12 Section 4.06 Agreements 12 Section 4.07 No Actions Pending 13 Section 4.08 Title to Properties and Assets, Liens, etc. 13 Section 4.09 Litigation, Etc. 13 Section 4.10 Patents, Trademarks, Franchises, Etc. 13 Section 4.11 ERISA 14 Section 4.12 Outstanding Debt 14 Section 4.13 Places of Business 14 Section 4.14 Priority of Security Interest 14 Section 4.15 Subsidiaries 14 Section 4.16 Collateral to Secure all Obligations 14 Section 4.17 Environmental Matters 14 Section 4.18 Regulation G, Etc. 14 Section 4.19 Holding Company Status 15 Section 4.20 Investment Company Status 15 Section 4.21 Intentionally Omitted 15 Section 4.22 False or Misleading Statements 15 Section 4.23 Bank's Rights to Sell Collateral Following Event of Default 15 Section 4.24 FDA, other Regulatory Bodies 15 ARTICLE FIVE COVENANTS 15 Section 5.01 Affirmative Covenants 15 Section 5.02 Negative Covenants 20 ARTICLE SIX EVENTS OF DEFAULT 22 Section 6.01 Events of Default 22 ARTICLE SEVEN RIGHTS UPON DEFAULT 24 Section 7.01 Acceleration 25 Section 7.02 Right of Setoff 25 Section 7.03 Other Rights 9 25 Section 7.04 Uniform Commercial Code 25 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 EIGHT MISCELLANEOUS 25 Section 5.1 Power 8.01 No Waiver, Cumulative Remedies 25 Section 8.02 Amendments, Etc. 25 Section 8.03 Addresses for Notices, Etc. 25 Section 8.04 Applicable Law and Authority Courts 26 Section 8.05 Waiver of Jury Trial 26 Section 8.06 Survival of Representations and Warranties 26 Section 8.07 Time of the Manager 9 Essence 27 Section 5.2 Term 8.08 Headings 27 Section 8.09 Severability 27 Section 8.10 Counterparts 27 Section 8.11 Non-Waiver 27 Section 8.12 Further Assurances 27 Section 8.13 Costs and Withdrawal Expenses 27 Section 8.14 Indemnification regarding Environmental Matters 28 Section 8.15 No Third Party Beneficiaries 28 Section 8.16 Construction of Loan Documents 28 Section 8.17 Collateral to Secure all Loans 28 Section 8.18 Entire Agreement 28 Section 8.19 Successors and Assigns 28 Section 8.20 Relief from Automatic Stay 28 SIGNATURES AND SEALS 29 LIST OF EXHIBITS ---------------- EXHIBIT A Permitted Debt EXHIBIT B Places of Business EXHIBIT C Employee Plans EXHIBIT D Permitted Security Interests LOAN AGREEMENT THIS LOAN AGREEMENT (this "Agreement"), dated March , 2000 between GALAXY FOODS COMPANY, a Delaware corporation (hereinafter referred to as the Manager 11 Section 5.3 Determinations by "Borrower") and SOUTHTRUST BANK, a national banking association (hereinafter referred to as the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15"Bank").

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 SECTION 1. Escrow Agent 2 Section 1.1 Definitions 1 1.01. Appointment of Escrow Agent 2 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 1.02. Instruction; Etc. 2 Section 1.03. Initial Escrow Amount; Issuance of Escrow Receipts 3 Section 1.04. Payments to Receiptholders 3 Section 1.05. Mutilated, Destroyed, Lost or Stolen Escrow Receipt 4 Section 2.1 Formation 1.06. Additional Escrow Amounts 4 Section 2.2 Name 1.07. Resignation or Removal of Escrow Agent 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 1.08. Persons Deemed Owners 5 Section 2.8 Term 1.09. Further Assurances 5 SECTION 2. Paying Agent 5 Section 2.01. Appointment of Paying Agent 5 Section 2.02. Establishment of Paying Agent Account 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 2.03. Payments from Paying Agent Account 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 2.04. Withholding Taxes 7 Section 3.3 Certificates 2.05. Resignation or Removal of Paying Agent 7 Section 3.4 Record Holders 2.06. Notice of Final Withdrawal 7 Section 3.5 Registration SECTION 3. Payments 8 SECTION 4. Other Actions 8 SECTION 5. Representations and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power and Authority Warranties of the Manager 9 Section 5.2 Term Escrow Agent 8 SECTION 6. Representations and Withdrawal Warranties of the Manager Paying Agent 9 SECTION 7. Indemnification 10 SECTION 8. Amendment, Etc. 11 Section 5.3 Determinations by the Manager SECTION 9. Notices 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance SECTION 10. Transfer 12 Section 5.5 Duties SECTION 11. Entire Agreement 12 SECTION 12. Governing Law 12 SECTION 13. Waiver of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Jury Trial Right 12 SECTION 14. Counterparts 12 Exhibit A Escrow Receipt Exhibit B Withdrawal Certificate

TABLE OF CONTENTS. ARTICLE I ONE DEFINITIONS 1 Section 1.1 Definitions 1 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term AND OTHER PROVISIONS OF GENERAL APPLICATION 6 Section 2.9 101 Definitions. 6 Section 102 Compliance Certificates and Opinions. 12 Section 103 Form of Documents Delivered to Trustee. 13 Section 104 Acts of Holders; Record Dates. 13 Section 105 Notices, etc. to Trustee and Operating Partnership. 14 Section 106 Notice to Holders of Securities; Waiver. 15 Section 107 Language of Notices. 15 Section 108 Conflict with Trust Indenture Act. 15 Section 109 Effect of Headings and Table of Contents. 15 Section 110 Successors and Assigns. 15 Section 111 Separability Clause. 15 Section 112 Benefits of Indenture. 16 Section 113 Governing Law; Waiver of Jury Trial. 16 Section 114 Legal Holidays. 16 Section 115 Counterparts. 16 Section 116 Judgment Currency. 16 Section 117 Extension of Payment Dates. 17 Section 118 Immunity of Limited Partners, Stockholders, Directors, Officers and Agents of the Operating Partnership, the Company and Guarantors. 17 Section 119 USA Patriot Act. 17 Section 120 Force Majeure. 17 Section 121 FATCA. 17 ARTICLE TWO SECURITIES FORMS 18 Section 201 Forms Generally. 18 Section 202 Form of Trustee’s Certificate of Formation 6 Authentication. 18 Section 203 Securities in Global Form. 18 ARTICLE III MEMBERS AND UNITS 6 THREE THE SECURITIES 19 Section 3.1 Members 6 301 Amount Unlimited; Issuable in Series. 19 Section 3.2 Authorization to Issue Units 7 302 Currency; Denominations. 22 Section 3.3 Certificates 7 303 Execution, Authentication, Delivery and Dating. 22 Section 3.4 Record Holders 7 304 Temporary Securities. 24 Section 3.5 Registration 305 Registration, Transfer and Transfer of Units 8 Exchange. 24 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 306 Mutilated, Destroyed, Lost and Stolen Securities. 26 Section 4.1 Distributions to Record Holders 8 Section 4.2 307 Payment of Taxes 9 Interest and Certain Additional Amounts; Rights to Interest and Certain Additional Amounts Preserved. 26 Section 4.3 Absence 308 Persons Deemed Owners. 27 Section 309 Cancellation. 28 Section 310 Computation of Interest. 28 Section 311 CUSIP Numbers. 28 ARTICLE FOUR SATISFACTION AND DISCHARGE OF INDENTURE 28 Section 401 Satisfaction and Discharge. 28 Section 402 Defeasance and Covenant Defeasance. 29 Section 403 Application of Trust Money. 32 Section 404 Reinstatement. 32 Section 405 Qualifying Trustee. 33 ARTICLE FIVE REMEDIES 33 Section 501 Events of Default. 33 Section 502 Acceleration of Maturity; Rescission and Annulment. 34 Section 503 Collection of Indebtedness and Suits for Enforcement by Trustee. 35 Section 504 Trustee May File Proofs of Claim. 36 Section 505 Trustee May Enforce Claims without Possession of Securities. 36 Section 506 Application of Money Collected. 36 Section 507 Limitations on Suits. 37 Section 508 Unconditional Right of Holders to Receive Principal and any Premium, Interest and Additional Amounts. 37 Section 509 Restoration of Rights and Remedies. 37 Section 510 Rights and Remedies Cumulative. 37 Section 511 Delay or Omission Not Waiver. 38 Section 512 Control by Holders of Securities. 38 Section 513 Waiver of Past Defaults. 38 Section 514 Waiver of Usury, Stay or Extension Laws. 38 Section 515 Undertaking for Costs. 39 ARTICLE SIX THE TRUSTEE 39 Section 601 Certain Other Rights 9 of Trustee. 39 Section 602 Notice of Defaults. 41 Section 603 Not Responsible for Recitals or Issuance of Securities. 41 Section 604 May Hold Securities; Transactions with the Operating Partnership or any Guarantor. 41 Section 605 Money Held in Trust. 41 Section 606 Compensation and Reimbursement. 41 Section 607 Corporate Trustee Required; Eligibility. 42 Section 608 Resignation and Removal; Appointment of Successor. 42 Section 609 Acceptance of Appointment by Successor. 43 Section 610 Merger, Conversion, Consolidation or Succession to Business. 44 Section 611 Appointment of Authenticating Agent. 44 ARTICLE V MANAGEMENT SEVEN HOLDERS LISTS AND OPERATION OF BUSINESS 9 REPORTS BY TRUSTEE, OPERATING PARTNERSHIP AND GUARANTORS 46 Section 5.1 Power 701 Operating Partnership to Furnish Trustee Names and Authority Addresses of the Manager 9 Holders. 46 Section 5.2 Term and Withdrawal 702 Preservation of the Manager 11 Information; Communications to Holders. 46 Section 5.3 Determinations 703 Reports by Trustee. 46 Section 704 Reports by the Manager 11 Section 5.4 ExculpationOperating Partnership. 46 ARTICLE EIGHT CONSOLIDATION, IndemnificationMERGER, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING SALES AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15SUBSTITUTION 47

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section SECTION 1.1 Definitions Generally 1 Section SECTION 1.2 Construction 4 Definition of Certain Terms 2 ARTICLE II ORGANIZATION 4 Section GENERAL TERMS OF THE NOTES 6 SECTION 2.1 Formation 4 Section Form 6 SECTION 2.2 Name 4 Section Title, Amount and Payment of Principal and Interest 7 SECTION 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 Transfer and Exchange 9 ARTICLE III MEMBERS AND UNITS 6 Section GUARANTY; FUTURE SUBSIDIARY GUARANTEES 9 SECTION 3.1 Members 6 Section Guarantee 9 SECTION 3.2 Authorization to Issue Units 7 Section Future Subsidiary Guarantors 9 SECTION 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer Release of Units 8 Section 3.6 Agreements 8 Guarantees 9 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section REDEMPTION 10 SECTION 4.1 Distributions to Record Holders 8 Section Optional Redemption of 2025 Notes 10 SECTION 4.2 Payment Optional Redemption of Taxes 9 Section 2030 Notes 10 SECTION 4.3 Absence Optional Redemption of Certain Other Rights 9 2050 Notes 10 SECTION 4.4 Optional Redemption Generally 11 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section ADDITIONAL COVENANTS 11 SECTION 5.1 Power and Authority of the Manager 9 Section Limitations on Liens 11 SECTION 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance Restriction on Sale-Leasebacks 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKSEVENTS OF DEFAULT 12 SECTION 6.1 Additional Event of Default 12 ARTICLE VII AMENDMENTS 13 SECTION 7.1 Amendments without Consent of Holders 13 SECTION 7.2 Notice of Redemption 13 ARTICLE VIII MISCELLANEOUS PROVISIONS 13 SECTION 8.1 Ratification of Base Indenture 13 SECTION 8.2 Trustee Not Responsible for Recitals 13 SECTION 8.3 Table of Contents, RECORDSHeadings, ACCOUNTING AND REPORTS 15 Section 6.1 Records etc. 14 SECTION 8.4 Counterpart Originals 14 SECTION 8.5 Governing Law 14 THIS FOURTH SUPPLEMENTAL INDENTURE, dated as of January 22, 2020 (the “Fourth Supplemental Indenture”), is among Energy Transfer Operating, L.P. (formerly known as Energy Transfer Partners, L.P.), a Delaware limited partnership (the “Partnership”), Sunoco Logistics Partners Operations L.P., a Delaware limited partnership (the “Guarantor”), and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15U.S. Bank National Association, a national banking association, as trustee (the “Trustee”).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.01 Certain Terms Defined 1 Section 1.2 Construction ARTICLE 2 SECURITY FORMS 5 SECTION 2.01 Forms Generally 5 SECTION 2.02 Form of Trustee’s Certificate of Authentication 6 ARTICLE 3 ISSUE, EXECUTION, FORM AND REGISTRATION OF SECURITIES 6 SECTION 3.01 Amount Unlimited; Issuable in Series 6 SECTION 3.02 Authentication and Delivery of Securities 8 SECTION 3.03 Execution of Securities 9 SECTION 3.04 Certificate of Authentication 9 SECTION 3.05 Denomination and Date of Securities; Payments of Interest 9 SECTION 3.06 Global Security Legend 10 SECTION 3.07 Registration, Transfer and Exchange 11 SECTION 3.08 Book-Entry Provisions for Global Securities 12 SECTION 3.09 Mutilated, Defaced, Destroyed, Lost and Stolen Securities 13 SECTION 3.10 Cancellation of Securities 14 SECTION 3.11 Temporary Securities 14 SECTION 3.12 Computation of Interest 15 SECTION 3.13 CUSIP and ISIN Numbers 15 ARTICLE 4 CERTAIN COVENANTS 15 SECTION 4.01 Payment of Principal, Premium and Interest on Securities 15 SECTION 4.02 Maintenance of Office or Agency 15 SECTION 4.03 Money for Securities Payments to be Held in Trust 16 SECTION 4.04 Existence 17 SECTION 4.05 Statement by Officers as to Default 17 SECTION 4.06 Waiver of Certain Covenants 17 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered Office5 REMEDIES OF THE TRUSTEE AND HOLDERS ON EVENT OF DEFAULT 18 SECTION 5.01 Events of Default 18 SECTION 5.02 Acceleration 19 SECTION 5.03 Other Remedies 20 SECTION 5.04 Waiver of Past Defaults 20 SECTION 5.05 Control by Majority 20 SECTION 5.06 Limitation on Suits 21 SECTION 5.07 Rights of Holders to Receive Payment 21 SECTION 5.08 Collection Suit by Trustee 21 SECTION 5.09 Trustee May File Proofs of Claim 21 SECTION 5.10 Priorities 22 SECTION 5.11 Undertaking for Costs 22 SECTION 5.12 Restoration of Rights and Remedies 22 SECTION 5.13 Rights and Remedies Cumulative 23 SECTION 5.14 Delay or Omission Not Waiver 23 ARTICLE 6 CONCERNING THE TRUSTEE 23 SECTION 6.01 Duties and Responsibilities of the Trustee; Registered AgentDuring Default; Principal OfficePrior to Default 23 SECTION 6.02 Certain Rights of the Trustee 24 SECTION 6.03 Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof 25 SECTION 6.04 Trustee and Agents May Hold Securities; Collections, etc 26 SECTION 6.05 Moneys Held by Trustee 26 SECTION 6.06 Notice of Default 26 SECTION 6.07 Compensation and Indemnification of Trustee and Its Prior Claim 26 SECTION 6.08 Right of Trustee to Rely on Officers’ Certificate, etc 27 SECTION 6.09 Persons Eligible for Appointment as Trustee 27 SECTION 6.10 Resignation and Removal; Appointment of Successor Trustee 27 SECTION 6.11 Acceptance of Appointment by Successor 29 SECTION 6.12 Merger, Conversion, Consolidation or Succession to Business of Trustee 30 SECTION 6.13 Preferential Collection of Claims 30 SECTION 6.14 Conflicting Interests 31 ARTICLE 7 CONCERNING THE HOLDERS 31 SECTION 7.01 Evidence of Action Taken by Holders 31 SECTION 7.02 Proof of Execution of Instruments and of Holding of Securities; Record Date 31 SECTION 7.03 Who May Be Deemed Owners of Securities 31 SECTION 7.04 Securities Owned by Company Deemed Not Outstanding 32 SECTION 7.05 Record Date for Action by Securityholders 32 SECTION 7.06 Right of Revocation of Action Taken 33 ARTICLE 8 SUPPLEMENTAL INDENTURES 33 SECTION 8.01 Supplemental Indentures Without Consent of Holders 33 SECTION 8.02 With Consent of Holders 34 SECTION 8.03 Effect of Supplemental Indenture 35 SECTION 8.04 Documents to Be Given to Trustee; Compliance with TIA 35 SECTION 8.05 Notation on Securities in Respect of Supplemental Indentures 35 ARTICLE 9 CONSOLIDATION, MERGER OR SALE OF ASSETS 35 SECTION 9.01 When the Company May Merge, Etc 35 SECTION 9.02 Successor Corporation Substituted 36 SECTION 9.03 Opinion of Counsel to Trustee 36 ARTICLE 10 REDEMPTION OF SECURITIES 37 SECTION 10.01 Applicability of Article 37 SECTION 10.02 Notice of Redemption; Partial Redemptions 37 SECTION 10.03 Payment of Securities Called for Redemption 38 ARTICLE 11 DEFEASANCE AND COVENANT DEFEASANCE 38 SECTION 11.01 Applicability of the Article; Company’s Option to Effect Defeasance or Covenant Defeasance 38 SECTION 11.02 Legal Defeasance and Discharge 39 SECTION 11.03 Covenant Defeasance 39 SECTION 11.04 Conditions to Legal or Covenant Defeasance 40 SECTION 11.05 Deposited Money and Government Securities to be Held in Trust; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power Miscellaneous Provisions 41 SECTION 11.06 Repayment to the Company 41 SECTION 11.07 Reinstatement 42 ARTICLE 12 SATISFACTION AND DISCHARGE 42 SECTION 12.01 Satisfaction and Discharge of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate Indenture 42 SECTION 12.02 Application of Formation 6 Trust Money 43 ARTICLE III MEMBERS 13 HOLDERS’ LISTS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization REPORTS BY TRUSTEE AND COMPANY 43 SECTION 13.01 Company to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Furnish Trustee Names and Addresses of Holders 7 Section 3.5 Registration and Transfer 43 SECTION 13.02 Preservation of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions Information; Communications to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations 44 SECTION 13.03 Reports by the Manager 11 Section 5.4 ExculpationTrustee 45 SECTION 13.04 Reports by the Company 45 ARTICLE 14 SINKING FUNDS 46 SECTION 14.01 Applicability of Article 46 SECTION 14.02 Satisfaction of Sinking Fund Payments with Securities 46 SECTION 14.03 Redemption of Securities for Sinking Fund 46 ARTICLE 15 MISCELLANEOUS PROVISIONS 47 SECTION 15.01 Incorporators, IndemnificationStockholders, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance Directors of Company Exempt from Individual Liability 47 SECTION 15.02 Provisions of Indenture for the Sole Benefit of Parties and Holders 47 SECTION 15.03 Successors and Assigns of Company Bound by Indenture 47 SECTION 15.04 Notices to Holders 47 SECTION 15.05 Officers’ Certificates and Opinions of Counsel; Statements to Be Contained Therein 47 SECTION 15.06 Payments Due on Saturdays, Sundays and Holidays 48 SECTION 15.07 Conflict of Any Provision of Indenture with Trust Indenture Act 49 SECTION 15.08 New York Law to Govern 49 SECTION 15.09 Third Parties 14 Section 5.8 Reimbursement Party Beneficiaries 49 SECTION 15.10 Counterparts 49 SECTION 15.11 Effect of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records Headings 49 SECTION 15.12 Severability 49 Reconciliation and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15tie between Trust Indenture Act of 1939 and this Indenture 310 (a) (1) 6.09 (a) (2) 6.09

TABLE OF CONTENTS. ARTICLE I I. DEFINITIONS 1 Section 1.1 SECTION 1.1. Definitions 1 Section 1.2 Construction ARTICLE II. TRUST INDENTURE ACT 4 ARTICLE II ORGANIZATION SECTION 2.1. Trust Indenture Act; Application 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered OfficeSECTION 2.2. List of Holders 5 SECTION 2.3. Reports by the Guarantee Trustee 5 SECTION 2.4. Periodic Reports to the Guarantee Trustee 5 SECTION 2.5. Evidence of Compliance with Conditions Precedent 5 SECTION 2.6. Events of Default; Registered AgentWaiver 6 SECTION 2.7. Event of Default; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term Notice 6 Section 2.9 Certificate of Formation SECTION 2.8. Conflicting Interests 6 ARTICLE III MEMBERS III. POWERS, DUTIES AND UNITS RIGHTS OF THE GUARANTEE TRUSTEE 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration SECTION 3.1. Powers and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager Guarantee Trustee 6 SECTION 3.2. Certain Rights of Guarantee Trustee 8 SECTION 3.3. Indemnity 9 SECTION 3.4. Expenses 9 ARTICLE IV. GUARANTEE TRUSTEE 10 SECTION 4.1. Guarantee Trustee; Eligibility 10 SECTION 4.2. Appointment, Removal and its Officers Resignation of the Guarantee Trustee 10 ARTICLE V. GUARANTEE 11 SECTION 5.1. Guarantee 11 SECTION 5.2. Waiver of Notice and Managers Demand 11 SECTION 5.3. Obligations Not Affected 11 SECTION 5.4. Rights of Holders 12 SECTION 5.5. Guarantee of Payment 13 SECTION 5.6. Subrogation 13 SECTION 5.7. Independent Obligations 13 ARTICLE VI. COVENANTS AND SUBORDINATION 13 SECTION 6.1. Subordination 13 SECTION 6.2. Pari Passu Guarantees 13 ARTICLE VII. TERMINATION 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses SECTION 7.1. Termination 14 ARTICLE VI BOOKSVIII. MISCELLANEOUS 14 SECTION 8.1. Successors and Assigns 14 SECTION 8.2. Amendments 14 SECTION 8.3. Notices 14 SECTION 8.4. Benefit 16 SECTION 8.5. Interpretation 16 SECTION 8.6. Governing Law 16 SECTION 8.7. Counterparts 17 THIS GUARANTEE AGREEMENT, RECORDSdated as of January 13, ACCOUNTING AND REPORTS 15 Section 6.1 Records 2006, is executed and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15delivered by GAINSCO, INC., a Texas corporation (the “Guarantor”), having its principal office at ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇, Suite 1200, Dallas, Texas 75219, and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as trustee (“Wilmington Trust Company”), for the benefit of the Holders (as defined herein) from time to time of the Capital Securities (as defined herein) of GAINSCO CAPITAL TRUST I, a Delaware statutory trust (the “Issuer Trust”). Pursuant to an Amended and Restated Trust Agreement (the “Trust Agreement”), dated of even date herewith, among Gainsco, Inc., as Depositor, and Wilmington Trust Company, as Property Trustee and Delaware Trustee, the Administrators named therein and the Holders from time to time of undivided beneficial interests in the assets of the Issuer Trust, the Issuer Trust is issuing up to $25,000,000 aggregate Liquidation Amount (as defined herein) of its Floating Rate Capital Securities, representing preferred undivided beneficial interests in the assets of the Issuer Trust and having the terms set forth in the Trust Agreement (the “Capital Securities”); The Capital Securities will be issued by the Issuer Trust and the proceeds thereof, together with the proceeds from the issuance of the Issuer Trust’s Common Securities (the “Common Securities”), representing common undivided beneficial interests in the assets of the Issuer Trust, will be used to purchase the Junior Subordinated Debentures of the Guarantor due March 31, 2036 (the “Junior Subordinated Debentures”), which will be deposited with Wilmington Trust Company, as Property Trustee under the Trust Agreement, as trust assets; and As an inducement to the Holders to purchase the Capital Securities, the Guarantor is willing to irrevocably and unconditionally agree, to the extent set forth herein, to pay to the Holders of the Capital Securities the Guarantee Payments (as defined herein) and to make certain other payments on the terms and conditions set forth herein.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS Section Heading Page Section 1 Authorization of Notes. 1 Section 1.1 Definitions 2 Sale and Purchase of Notes. 1 Section 1.2 Construction 3 Closing. 2 Section 4 ARTICLE II ORGANIZATION Conditions to Closing. 2 Section 4.1 Representations and Warranties 3 Section 4.2 Performance; No Default 3 Section 4.3 Compliance Certificates 3 Section 4.4 Opinion of Counsel 3 Section 4.5 Purchase Permitted By Applicable Law, Etc 3 Section 4.6 ▇▇▇▇▇ and ISIN Number 3 Section 4.7 Changes in Corporate Structure 3 Section 4.8 Funding Instructions 3 Section 4.9 Proceedings and Documents 4 Section 2.1 Formation 5 Representations and Warranties of the Company. 4 Section 2.2 Name 4 Section 2.3 Registered Office5.1 Organization; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power and Authority 4 Section 5.2 Authorization, Etc 4 Section 5.3 Disclosure 4 Section 5.4 Organization and Ownership of Shares of Subsidiaries; Affiliates 4 Section 5.5 Financial Statements; Material Liabilities 5 Section 5.6 Compliance with Laws, Other Instruments, Etc 5 Section 5.7 Governmental Authorizations, Etc 5 Section 5.8 Litigation; Observance of Statutes and Orders 5 Section 5.9 Taxes 6 Section 5.10 Title to Property; Leases 6 Section 5.11 Licenses, Permits, Etc 6 Section 5.12 Employee Benefit Plans 6 Section 5.13 Private Offering by the Company 7 Section 5.14 Use of Proceeds; Margin Regulations 7 Section 5.15 Material Credit Facilities 7 Section 5.16 Foreign Assets Control Regulations, Etc 8 Section 5.17 Status under Certain Statutes 8 Section 6 Representations of the Manager Purchaser. 9 Section 5.2 Term 6.1 Purchase for Investment 9 Section 6.2 Source of Funds 9 Section 7 Information as to Company. 11 Section 7.1 Financial and Withdrawal Business Information 11 Section 7.2 Officer’s Certificate 13 Section 7.3 Visitation 13 Section 7.4 Electronic Delivery 14 Section 8 Payment, Prepayment and Redemption of the Manager 11 Notes. 14 Section 5.3 Determinations by the Manager 11 8.1 Required Prepayments and Prepayment in Connection with a Change of Control 14 Section 5.4 Exculpation8.2 Optional Redemption 15 Section 8.3 Interest Payments 16 Section 8.4 Maturity; Surrender, Indemnification, Advances Etc 16 Section 8.5 Payments Due on Non-Business Days 16 Section 9 Affirmative Covenants. 16 Section 9.1 Compliance with Laws 16 Section 9.2 Corporate Existence; Listing and Insurance 12 Status under Applicable Law 16 Section 5.5 Duties 9.3 Priority of Obligations 17 Section 9.4 Books and Records 17 Section 9.5 Rating of the Manager Notes 17 Section 9.6 Cash Balances 17 Section 9.7 Rating Step Up 17 Section 10 Negative Covenants. 18 Section 10.1 Transactions with Affiliates 18 Section 10.2 Merger, Consolidation, Sale or Transfer of Assets 18 Section 10.3 Sale of Assets 19 Section 10.4 Dividends and its Officers Distributions 19 Section 10.5 Debt Incurrence 19 Section 10.6 Financial Covenants 20 Section 11 Events of Default. 20 Section 12 Remedies on Default, Etc. 21 Section 12.1 Acceleration 21 Section 12.2 Other Remedies 22 Section 12.3 Rescission 22 Section 12.4 No Waivers or Election of Remedies, Expenses, Etc 22 Section 13.1 Registration of Notes 22 Section 13.2 Transfer and Managers Exchange of Notes 23 Section 13.3 Replacement of Notes 23 Section 14 Payments on Notes. 24 Section 5.6 Outside Activities 14 14.1 Paying Agent 24 Section 5.7 Reliance by Third Parties 14 14.2 FATCA Information 24 Section 5.8 Reimbursement of 15 Expenses, Etc. 24 Section 15.1 Certain Fees and Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 1524

TABLE OF CONTENTS. ARTICLE I DEFINITIONS Section Heading Page Section 1. Authorization of Notes 1 Section 1.1 Definitions 1.1. Authorization of Notes 1 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 1.2. Changes in Interest Rate 1 Section 2. Sale and Purchase of Notes 4 Section 2.1 Formation 2.1. Sale and Purchase of Series A Notes 4 Section 2.2 Name 2.2. Additional Series of Notes 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 3. Closing 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 4. Conditions to Closing 6 Section 3.1 Members 4.1. Representations and Warranties 6 Section 3.2 Authorization to Issue Units 7 4.2. Performance; No Default 6 Section 3.3 4.3. Compliance Certificates 7 Section 3.4 Record Holders 4.4. Opinions of Counsel 7 Section 3.5 Registration and Transfer 4.5. Purchase Permitted By Applicable Law, Etc 7 Section 4.6. Sale of Units Other Notes 7 Section 4.7. Payment of Special Counsel Fees 7 Section 4.8. Private Placement Number 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 4.9. Changes in Legal Structure 8 Section 4.1 Distributions to Record Holders 4.10. Funding Instructions 8 Section 4.2 4.11. Rating 8 Section 4.12. Subsidiary Guaranty 8 Section 4.13. Proceedings and Documents 8 Section 4.14. Conditions to Issuance of Additional Notes 8 Section 5. Representations and Warranties of the Company 9 Section 5.1. Organization; Power and Authority 9 Section 5.2. Authorization, Etc 9 Section 5.3. Disclosure 10 Section 5.4. Organization and Ownership of Shares of Subsidiaries; Affiliates 10 Section 5.5. Financial Statements; Material Liabilities 11 Section 5.6. Compliance with Laws, Other Instruments, Etc 11 Section 5.7. Governmental Authorizations, Etc 12 Section 5.8. Litigation; Observance of Agreements, Statutes and Orders 12 Section 5.9. Taxes 12 Section 5.10. Title to Property 12 Section 5.11. Licenses, Permits, Etc 13 Section 5.12. Compliance with ERISA 13 Section 5.13. Private Offering by the Company 13 Section 5.14. Use of Proceeds; Margin Regulations 13 BUSINESS.29995723.2 Section 5.15. Existing Indebtedness; Future Liens 14 Section 5.16. Foreign Assets Control Regulations, Etc 14 Section 5.17. Environmental Matters 15 Section 5.18. Investment Company Act 16 Section 5.19. Priority of Obligations 16 Section 6. Representations of the Purchasers 16 Section 6.1. Purchase for Investment 16 Section 6.2. Source of Funds fic 17 Section 6.3. Investment Experience; Access to Information 18 Section 6.4. Authorization 19 Section 6.5. Restricted Securities 19 Section 6.6. No Public Market 19 Section 6.7. Legends 19 Section 6.8. AML Compliance 20 Section 7. Information as to Company 20 Section 7.1. Financial and Business Information 20 Section 7.2. Officer’s Certificate 22 Section 7.3. Visitation 23 Section 7.4. Electronic Delivery 23 Section 8. Payment and Prepayment of the Notes 24 Section 8.1. Maturity 24 Section 8.2. Optional Prepayments with Prepayment Settlement Amount 24 Section 8.3. Allocation of Partial Prepayments 25 Section 8.4. Maturity; Surrender, Etc. 25 Section 8.5. Purchase of Notes 25 Section 8.6. Make-Whole Amount; Prepayment Settlement Amount 26 Section 8.7. Payments Due on Non-Business Days 28 Section 8.8. Change in Control 28 Section 9. Affirmative Covenants 29 Section 9.1. Compliance with Laws 29 Section 9.2. Insurance 29 Section 9.3. Maintenance of Properties 29 Section 9.4. Payment of Taxes 9 and Claims 30 Section 4.3 Absence 9.5. Limited Liability Company Existence, Etc 30 Section 9.6. Books and Records 30 Section 9.7. Subsidiary Guarantors 30 Section 9.8. Status of BDC and RIC 32 Section 9.9. Investment Policies 32 Section 9.10. Rating Confirmation 32 Section 9.11. Most Favored Lender 32 Section 10. Negative Covenants 33 Section 10.1. Transactions with Affiliates 33 Section 10.2. Merger, Consolidation, Fundamental Changes, Etc 34 Section 10.3. Line of Business 37 Section 10.4. Economic Sanctions, Etc 37 Section 10.5. Liens 37 Section 10.6. Investments 38 Section 10.7. Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Financial Covenants 39 Section 5.1 Power 11. Events of Default 40 Section 12. Remedies on Default, Etc 42 Section 12.1. Acceleration 42 Section 12.2. Holder Action 43 Section 12.3. Rescission 43 Section 12.4. No Waivers or Election of Remedies, Expenses, Etc 44 Section 13. Registration; Exchange; Substitution of Notes 44 Section 13.1. Registration of Notes 44 Section 13.2. Transfer and Authority Exchange of Notes 44 Section 13.3. Replacement of Notes 45 Section 14. Payments on Notes 46 Section 14.1. Place of Payment 46 Section 14.2. Payment by Wire Transfer 46 Section 14.3. Tax Forms 46 Section 15. Expenses, Etc 47 Section 15.1. Transaction Expenses 47 Section 15.2. Certain Taxes 48 Section 15.3. Survival 48 Section 16. Survival of Representations and Warranties; Entire Agreement 49 Section 17. Amendment and Waiver 49 Section 17.1. Requirements 49 Section 17.2. Solicitation of Holders of Notes 50 Section 17.3. Binding Effect, Etc 50 Section 17.4. Notes Held by Company, Etc 51 Section 18. Notices 51 Section 19. Reproduction of Documents 52 Section 20. Confidential Information 52 Section 21. Substitution of Purchaser 53 Section 22. Miscellaneous 54 Section 22.1. Successors and Assigns 54 Section 22.2. Accounting Terms 54 Section 22.3. Severability 55 Section 22.4. Construction, Etc 55 Section 22.5. Counterparts; Electronic Contracting 55 Section 22.6. Governing Law 56 Section 22.7. Jurisdiction and Process; Waiver of Jury Trial 56 Signature 58 Schedule A — Defined Terms Schedule 1(a) — Form of 8.10% Series A Senior Notes, Tranche A, due March 16, 2026 Schedule 1(b) — Form of 8.13% Series A Senior Notes, Tranche B, due March 16, 2028 Schedule 4.4(a) — Form of Opinion of Special Counsel for the Company Schedule 4.4(b) — Form of Opinion of Special Counsel for the Purchasers Schedule 5.3 — Disclosure Materials Schedule 5.4 — Subsidiaries of the Manager 9 Section 5.2 Term Company and Withdrawal Ownership of Subsidiary Stock Schedule 5.5 — Financial Statements Schedule 5.15 — Existing Indebtedness Schedule 6.8 — AML Compliance Schedule 10.1 — Transactions with Affiliates Schedule 10.5 — Liens Schedule 10.6 — Investments Schedule 10.7 — Excluded Assets Schedule 13.2 — Non Competitors Purchaser Schedule — Information Relating to Purchasers Exhibit S — Form of Supplement to Master Note Purchase Agreement ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇ Floor To Each of the Manager 11 Section 5.3 Determinations by Purchasers Listed in the Manager 11 Section 5.4 ExculpationPurchaser Schedule Hereto: Ladies and Gentlemen: North Haven Private Income Fund LLC, Indemnificationa Delaware limited liability company (the “Company”), Advances and Insurance 12 Section 5.5 Duties agrees with each of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Purchasers as follows:

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions 1 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS I. PURPOSES AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes ESTABLISHMENT OF LEGAL ENTITY 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 1. Purposes 9 Section 5.1 Power and Authority of the Manager 2. Founding Data 9 Section 5.2 3. Creation of Entity and Name 10 Section 4. Membership 10 Section 5. CIWW Objectives 10 Section 6. Status as Separate Legal Entity 11 Section 7. Governmental Status 11 Section 8. Limited Liability of Member Agencies 11 Section 9. Initial Capital Contributions 11 Section 10. No Seal 11 Section 11. Effective Date 11 Section 12. Operational Commencement 11 Section 13. Term and Withdrawal Period of the Manager Existence 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 14. Manner of Financing 12 Section 5.5 Duties 15. Individual Ownership and Responsibility 12 ARTICLE II. POWERS OF CIWW 12 Section 1. Powers Generally 12 Section 2. Specific Enumeration of the Manager and its Officers and Managers Powers 12 ARTICLE III. LIMITATIONS OF SCOPE AND CIWW POWERS AND OPERATIONS 13 Section 1. Prohibited Activities 13 Section 2. No Private Inurement 14 ARTICLE IV. CIWW EXCLUSIVE SUPPLY RIGHTS AND SERVICE OBLIGATIONS AND DEDICATION OF EXISTING FACILITIES 14 Section 5.6 Outside Activities 1. Exclusive Supply Rights 14 Section 5.7 Reliance by Third Parties 2. Definitions of Water Supply Activity and Water Distribution Activity 14 Section 5.8 Reimbursement 3. Definitions of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS Water Supply Facilities and Water Distribution Facilities 15 Section 6.1 Records and Accounting 4. Limitations on Founding Agency Water Supply Activities 15 Section 6.2 Fiscal Year 15 5. CIWW Service Obligations 16 Section 6.3 Reports 156. Dedication and Operation of Existing Water Supply Facilities 16

TABLE OF CONTENTS. Page ARTICLE I I. DEFINITIONS 1 Section 1.1 Definitions 1 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 4 II. BASIS OF REINSURANCE AND BUSINESS REINSURED 16 Section 2.1 Formation 4 Reinsurance 16 Section 2.2 Name 4 Separate Accounts 17 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Existing Reinsurance 17 Section 2.4 Purposes 4 Non-Guaranteed Elements 20 Section 2.5 Qualification in Other Jurisdictions 4 Reserves and Liabilities Reporting 21 Section 2.6 Powers 4 Insurance Contract Changes 21 Section 2.7 Power of Attorney 5 Liability 22 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 Internal Replacements 22 ARTICLE III MEMBERS III. TRANSFER OF ASSETS; PAYMENTS; SETTLEMENTS; ADMINISTRATION AND UNITS 6 ACCOUNTING 22 Section 3.1 Members 6 Payments by the Ceding Company 22 Section 3.2 Authorization to Issue Units 7 Payments by the Reinsurer 25 Section 3.3 Certificates 7 Defenses 25 Section 3.4 Record Holders 7 Guaranty Association Assessments and Premium Taxes 25 Section 3.5 Registration Delayed Payments 25 Section 3.6 Offset and Recoupment Rights 25 Section 3.7 Administration and Accounting 26 Section 3.8 Termination of Administrative Services Agreement 26 Section 3.9 Certain Reports 27 Section 3.10 Books and Records 28 Section 3.11 Bank Accounts 28 Section 3.12 Novation of Specified BOLI/COLI Policies; Replacement of Group Covered Insurance Policies 29 ARTICLE IV. LICENSES; RESERVE CREDIT; SECURITY 30 Section 4.1 Licenses; Reserve Credit 30 Section 4.2 Security 31 Section 4.3 Trust Account and Settlements 31 Section 4.4 Eligible Assets 31 Section 4.5 Deposit or Transfer of Units 8 Trust Assets 32 Section 3.6 Agreements 8 4.6 Modifications Upon Occurrence of a Triggering Event 32 Section 4.7 Withdrawals of Assets from the Trust Account or Draws on Qualifying LOCs 33 Section 4.8 Adjustments of Security and Withdrawals 35 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 V. OVERSIGHTS; COOPERATION; REGULATORY MATTERS 37 Section 5.1 Power and Authority Oversights 37 Section 5.2 Cooperation 38 41446562.7 Section 5.3 Regulatory Matters 38 ARTICLE VI. DAC TAX 38 Section 6.1 Election 38 Section 6.2 Definitions 38 Section 6.3 Exchange of Information 38 Section 6.4 Effectiveness 39 Section 6.5 United States Tax Status Representation 39 Section 6.6 Breach of Representation 39 Section 6.7 DAC Tax Reimbursement 39 ARTICLE VII. INSOLVENCY 40 Section 7.1 Insolvency of the Manager 9 Ceding Company 40 ARTICLE VIII. DURATION; RECAPTURE 41 Section 5.2 Term 8.1 Duration 41 Section 8.2 Survival 41 Section 8.3 Recapture; Termination 41 Section 8.4 Recapture Payments 42 ARTICLE IX. INDEMNIFICATION; DISCLAIMER 42 Section 9.1 Reinsurer’s Obligation to Indemnify 42 Section 9.2 Ceding Company’s Obligation to Indemnify 42 Section 9.3 Notice of Claim; Defense 43 Section 9.4 No Duplication; Exclusive Remedy 44 Section 9.5 Mitigation 44 Section 9.6 Recovery by Indemnified Party 44 Section 9.7 Waiver of Duty of Utmost Good Faith 45 ARTICLE X. MISCELLANEOUS 45 Section 10.1 Notices 45 Section 10.2 Entire Agreement; Amendments 46 Section 10.3 Governing Law and Withdrawal Jurisdiction 46 Section 10.4 No Third Party Beneficiaries 47 Section 10.5 Expenses 47 Section 10.6 Counterparts 47 Section 10.7 Severability 47 Section 10.8 Waiver of the Manager 11 Jury Trial; Multiplied and Punitive Damages. 47 Section 5.3 Determinations by the Manager 11 10.9 Treatment of Confidential Information. 48 Section 5.4 Exculpation, Indemnification, Advances and 10.10 Assignment 48 Section 10.11 Waivers 48 Section 10.12 Specific Performance 49 Section 10.13 Interpretation 49 41446562.7 SCHEDULE 1.1(A) Covered Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Policies SCHEDULE 1.1(B) Investment Guidelines

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions SECTION 1.01. Defined Terms 1 Section 1.2 Construction 4 SECTION 1.02. Classification of Loans and Borrowings 21 SECTION 1.03. Terms Generally 21 SECTION 1.04. Accounting Terms; GAAP 21 SECTION 1.05. Interest Rates; LIBOR Notification 22 SECTION 1.06. Divisions 22 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered OfficeTHE CREDITS 23 SECTION 2.01. Commitments 23 SECTION 2.02. Loans and Borrowings 23 SECTION 2.03. Borrowing Procedures; Registered AgentRequests for Borrowings 23 SECTION 2.04. Letters of Credit 24 SECTION 2.05. Funding of Borrowings 27 SECTION 2.06. Interest Elections 28 SECTION 2.07. Termination and Reduction of Commitment 29 SECTION 2.08. Repayment and Amortization of Loans; Principal OfficeEvidence of Debt 29 SECTION 2.09. Prepayment of Loans 30 SECTION 2.10. Fees 31 SECTION 2.11. Interest 31 SECTION 2.12. Alternate Rate of Interest; Illegality 32 SECTION 2.13. Increased Costs 34 SECTION 2.14. Break Funding Payments 35 SECTION 2.15. Taxes 35 SECTION 2.16. Payments Generally; Allocation of Proceeds 39 SECTION 2.17. Indemnity for Returned Payments 40 ARTICLE III REPRESENTATIONS AND WARRANTIES 40 SECTION 3.01. Organization; Powers 40 SECTION 3.02. Authorization; Enforceability 40 SECTION 3.03. Governmental Approvals; No Conflicts 40 SECTION 3.04. Financial Condition; No Material Adverse Change 41 SECTION 3.05. Properties 41 SECTION 3.06. Litigation and Environmental Matters 41 SECTION 3.07. Compliance with Laws and Agreements; No Default 42 SECTION 3.08. Investment Company Status 42 SECTION 3.09. Taxes 42 SECTION 3.10. ERISA 42 SECTION 3.11. Disclosure 42 SECTION 3.12. Material Agreements 43 SECTION 3.13. Solvency 43 SECTION 3.14. Insurance 43 SECTION 3.15. Capitalization and Subsidiaries 43 SECTION 3.16. Employment Matters 43 SECTION 3.17. Federal Reserve Regulations 44 SECTION 3.18. Use of Proceeds 44 SECTION 3.19. No Burdensome Restrictions 44 SECTION 3.20. Anti-Corruption Laws and Sanctions 44 SECTION 3.21. Plan Assets; Prohibited Transactions 44 ARTICLE IV CONDITIONS 44 SECTION 4.01. Effective Date 44 SECTION 4.02. Each Credit Event 46 ARTICLE V AFFIRMATIVE COVENANTS 47 SECTION 5.01. Financial Statements; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power Information 47 SECTION 5.02. Notices of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate Material Events 49 SECTION 5.03. Existence; Conduct of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Business 49 SECTION 5.04. Payment of Taxes 9 Section 4.3 Absence Obligations 50 SECTION 5.05. Maintenance of Certain Other Properties 50 SECTION 5.06. Books and Records; Inspection Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power 50 SECTION 5.07. Compliance with Laws and Authority Material Contractual Obligations 50 SECTION 5.08. Use of the Manager 9 Section 5.2 Term Proceeds 51 SECTION 5.09. Accuracy of Information 51 SECTION 5.10. Insurance 51 SECTION 5.11. Material Licenses and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 Permits 52 SECTION 5.12. Depository Banks 52 SECTION 5.13. Further Assurances 52 ARTICLE VI BOOKSNEGATIVE COVENANTS 52 SECTION 6.01. Indebtedness 52 SECTION 6.02. Liens 54 SECTION 6.03. Fundamental Changes 56 SECTION 6.04. Investments, RECORDSLoans, ACCOUNTING AND REPORTS 15 Section 6.1 Records Advances, Guarantees and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Acquisitions 56 SECTION 6.05. Asset Sales 57 SECTION 6.06. Sale and Leaseback Transactions 59 SECTION 6.07. Swap Agreements 59 SECTION 6.08. Restricted Payments 60 SECTION 6.09. Transactions with Affiliates 60 SECTION 6.10. Restrictive Agreements 60 SECTION 6.11. Amendment of Material Documents 61 SECTION 6.12. Financial Covenants 61 ARTICLE VII EVENTS OF DEFAULT 61 ARTICLE VIII MISCELLANEOUS 64 SECTION 8.01. Notices 64 SECTION 8.02. Waivers; Amendments 66 SECTION 8.03. Expenses; Indemnity; Damage Waiver 66 SECTION 8.04. Successors and Assigns 67 SECTION 8.05. Survival 68 SECTION 8.06. Counterparts; Integration; Effectiveness 69 SECTION 8.07. Severability 70 SECTION 8.08. Right of Setoff 70 SECTION 8.09. Governing Law; Jurisdiction; Consent to Service of Process 70 SECTION 8.10. WAIVER OF JURY TRIAL 71 SECTION 8.11. Headings 73 SECTION 8.12. Confidentiality 73 SECTION 8.13. Nonreliance; Violation of Law 73 SECTION 8.14. USA PATRIOT Act 74 SECTION 8.15. Disclosure 74 SECTION 8.16. Interest Rate Limitation 74 SECTION 8.17. No Fiduciary Duty, etc 74 SECTION 8.18. Marketing Consent 75 SECTION 8.19. Acknowledgment Regarding Any Supported QFCs 75 Schedule 3.06 – Disclosed Matters Schedule 3.12 – Material Agreements Schedule 3.15 – Capitalization and Subsidiaries Schedule 6.01 – Existing Indebtedness Schedule 6.02 – Existing Liens Schedule 6.04 – Existing Investments Schedule 6.10 – Existing Restrictions Exhibit A - Borrowing Request Exhibit B - Compliance Certificate CREDIT AGREEMENT dated as of April 23, 2021 (as it may be amended, restated, supplemented or otherwise modified from time to time, this “Agreement”) between SAN ▇▇▇▇ WATER COMPANY, as Borrower, and JPMORGAN CHASE BANK, N.A., as Lender. The parties hereto agree as follows:

TABLE OF CONTENTS. ARTICLE I Definitions and Usage 1 Section 1.01 DEFINITIONS 1 Section 1.1 Definitions 1 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration 1.02 USAGE 8 Article 2. Sale and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes Assets; Closing 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 2.01 ASSETS TO BE SOLD 9 Section 5.1 Power and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 2.02 EXCLUDED ASSETS 11 Section 5.3 Determinations by the Manager 2.03 CONSIDERATION 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 2.04 LIABILITIES 12 Section 5.5 Duties of the Manager and its Officers and Managers 2.05 ALLOCATION 13 Section 2.06 CLOSING 14 Section 5.6 Outside Activities 2.07 CLOSING OBLIGATIONS 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 2.08 ACCOUNTS RECEIVABLE ADJUSTMENT 15 Section 6.1 Records 2.09 CLOSING FINANCIAL STATEMENTS 16 Section 2.10 WAIVER OF CONSENTS 17 Article 3. Representations and Accounting 15 Warranties of Seller and Shareholder 17 Section 6.2 Fiscal Year 15 3.01 ORGANIZATION AND GOOD STANDING 17 Section 6.3 Reports 153.02 ENFORCEABILITY; AUTHORITY; NO CONFLICT 17 Section 3.03 CAPITALIZATION 18 Section 3.04 FINANCIAL STATEMENTS 19 Section 3.05 BOOKS AND RECORDS 19 Section 3.06 SUFFICIENCY OF ASSETS 19 Section 3.07 [Intentionally omitted] 20 Section 3.08 [Intentionally omitted] 20 Section 3.09 TITLE TO ASSETS; ENCUMBRANCES 20 Section 3.10 CONDITION OF FACILITIES 20 Section 3.11 ACCOUNTS RECEIVABLE 20 Section 3.12 INVENTORIES 20 Section 3.13 NO UNDISCLOSED LIABILITIES 21 Section 3.14 TAXES 21 Section 3.15 NO MATERIAL ADVERSE CHANGE 22 Section 3.16 EMPLOYEE BENEFITS 22 Section 3.17 COMPLIANCE WITH LEGAL REQUIREMENTS; GOVERNMENTAL AUTHORIZATIONS 23 Section 3.18 LEGAL PROCEEDINGS; ORDERS 24 Section 3.19 ABSENCE OF CERTAIN CHANGES AND EVENTS 24 Section 3.20 CONTRACTS; NO DEFAULTS 25 Section 3.21 INSURANCE 27 Section 3.22 ENVIRONMENTAL MATTERS 27 Section 3.23 EMPLOYEES 28 Section 3.24 LABOR DISPUTES; COMPLIANCE 29 Section 3.25 INTELLECTUAL PROPERTY ASSETS 29 Section 3.26 [Intentionally omitted] 31 Section 3.27 COMPLIANCE WITH THE FOREIGN CORRUPT PRACTICES ACT AND EXPORT CONTROL AND ANTIBOYCOTT LAWS 31 Section 3.28 [Intentionally omitted.] 31 Section 3.29 RELATIONSHIPS WITH RELATED PERSONS 31 Section 3.30 BROKERS OR FINDERS 32 Section 3.31 [Intentionally omitted] 32 Section 3.32 SOLVENCY 32 Section 3.33 DISCLOSURE 32 Section 3.34 NO OTHER REPRESENTATIONS 32 Article 4. Representations and Warranties of Buyer 33 Section 4.01 ORGANIZATION AND GOOD STANDING 33 Section 4.02 AUTHORITY; NO CONFLICT 33 Section 4.03 CERTAIN PROCEEDINGS 33 Section 4.04 BROKERS OR FINDERS 34 Section 4.05 SOLVENCY 34 Article 5. COVENANTS OF SELLER 34 Section 5.01 CHANGE OF NAME 34 Section 5.02 BULK SALES WAIVER 34 Article 6. [INTENTIONALLY OMITTED] 34 Article 7. [INTENTIONALLY OMITTED] 34 Article 8. [INTENTIONALLY OMITTED] 34 Article 9. [INTENTIONALLY OMITTED] 34 Article 10. Additional Covenants 34 Section 10.01 EMPLOYEES AND EMPLOYEE BENEFITS 35 Section 10.02 PAYMENT OF ALL TAXES RESULTING FROM SALE OF ASSETS BY SELLER 36 Section 10.03 PAYMENT OF OTHER RETAINED LIABILITIES 37 Section 10.04 PAYMENT OF ASSUMED LIABILITIES; AGREEMENT WITH RESPECT TO AMECON DEBT 37 Section 10.05 INSURANCE 37 Section 10.06 REPORTS AND RETURNS 37 Section 10.07 ASSISTANCE IN PROCEEDINGS 37 Section 10.08 NON-COMPETITION, NONSOLICITATION AND NONDISPARAGEMENT 38 Section 10.09 CUSTOMER AND OTHER BUSINESS RELATIONSHIPS 38 Section 10.10 RETENTION OF AND ACCESS TO RECORDS 39 Section 10.11 FURTHER ASSURANCES 39 Section 10.12 FACILITY CLEANUP 39 Article 11. Indemnification; Remedies 39 Section 11.01 SURVIVAL 39 Section 11.02 INDEMNIFICATION AND REIMBURSEMENT BY SELLER AND SHAREHOLDER 40 Section 11.03 Section 11.03 INDEMNIFICATION AND REIMBURSEMENT BY SELLER—ENVIRONMENTAL MATTERS 40 Section 11.04 INDEMNIFICATION AND REIMBURSEMENT BY BUYER 41 Section 11.05 LIMITATIONS ON AMOUNT—SELLER AND SHAREHOLDER 41 Section 11.06 LIMITATIONS ON AMOUNT—BUYER 42 Section 11.07 TIME LIMITATIONS 42 Section 11.08 RIGHT OF SETOFF; ESCROW 42 Section 11.09 THIRD-PARTY CLAIMS 42 Section 11.10 OTHER CLAIMS 44 Section 11.11 EXCLUSIVE REMEDY 44 Section 11.12 NO CONSEQUENTIAL DAMAGES 44 Section 11.13 ADJUSTMENT TO PURCHASE PRICE 44 Section 11.14 REDUCTION FOR TAX BENEFITS 44 Section 11.15 [intentionally omitted] 44 Article 12. Confidentiality 45 Section 12.01 DEFINITION OF CONFIDENTIAL INFORMATION 45 Section 12.02 RESTRICTED USE OF CONFIDENTIAL INFORMATION 45 Section 12.03 EXCEPTIONS 46 Section 12.04 LEGAL PROCEEDINGS 46 Section 12.05 [INTENTIONALLY OMITTED] 46 Section 12.06 ATTORNEY-CLIENT PRIVILEGE 47 Article 13. General Provisions 47 Section 13.01 EXPENSES 47 Section 13.02 PUBLIC ANNOUNCEMENTS 47 Section 13.03 NOTICES 47 Section 13.04 JURISDICTION; SERVICE OF PROCESS 48 Section 13.05 ENFORCEMENT OF AGREEMENT 48 Section 13.06 WAIVER; REMEDIES CUMULATIVE 49 Section 13.07 ENTIRE AGREEMENT AND MODIFICATION 49 Section 13.08 DISCLOSURE LETTER 49 Section 13.09 ASSIGNMENTS, SUCCESSORS AND NO THIRD-PARTY RIGHTS 50 Section 13.10 SEVERABILITY 50 Section 13.11 CONSTRUCTION 50 Section 13.12 TIME OF ESSENCE 50 Section 13.13 GOVERNING LAW 50 Section 13.14 EXECUTION OF AGREEMENT 50 Section 13.15 SHAREHOLDER OBLIGATIONS 51 This Asset Purchase Agreement (“Agreement”) is dated May 28, 2010, by and among RTIE Holdings LLC, a Delaware limited liability company (“Buyer”); RTI Electronics, Inc., a Delaware corporation (“Seller”); and Intricon Corporation, a Pennsylvania corporation (the “Shareholder”).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS Description of Premises 1 Section 1.1 Definitions 2. Term of Lease 1 Section 1.2 3. Construction 4 ARTICLE II ORGANIZATION of Premises Improvements 1 Section 4. Rent 2 Section 5. Security Deposit 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 6. Taxes and Operating Expenses 5 Section 2.8 Term 7. Use of Premises 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 8. Alterations, Waste, Improvements 7 Section 3.3 Certificates 7 9. Quiet Enjoyment 8 Section 3.4 Record Holders 7 10. Entry by Landlord 9 Section 3.5 Registration 11. Services 10 Section 12. Parking 10 Section 13. Repairs and Replacements 11 Section 14. Force Majeure 11 Section 15. Rules and Regulations 12 Section 16. Liability, Indemnity and Insurance 13 Section 17. Liens 15 Section 18. Damage by Fire or Other Causes 16 Section 19. Eminent Domain 16 Section 20. Subordination 17 Section 21. Assignment and Subletting 17 Section 22. Right of First Refusal 18 Section 23. Default and Remedies of Landlord 18 Section 24. Transfer of Units 8 Landlord’s Interest 22 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 25. Waiver 22 Section 4.1 Distributions to Record Holders 8 26. Notices 22 Section 4.2 Payment of Taxes 9 27. Attorneys’ Fees 23 Section 4.3 Absence 28. Severability 23 Section 29. Captions and Use of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Terms 23 Section 5.1 Power 30. Amendment or Modification 23 Section 31. Successors 23 Section 32. Holdover 23 Section 33. Signs 24 Section 34. Real Estate Agent 24 Section 35. Exculpation 24 Section 36. Time 24 Section 37. Recording 24 Section 38. Tenant’s Statement 24 Section 39. Relationship of Landlord and Tenant 25 Section 40. Radon Gas 25 Section 41. Authority 25 Section 42. Entire Agreement 25 Section 43. Agreement to Arbitrate 25 Section 44. Waiver of Jury Trial 27 “A”: Legal Description THIS LEASE AGREEMENT (this “Lease”) is made and entered into as of the Manager 9 Section 5.2 Term first (1st ) day of September, 2002, by and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpationbetween VICTORY INVESTMENT GROUP LLC, Indemnificationa Florida limited liability company, Advances whose office address is ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ (herein “Landlord”), and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKSPERFUMANIA, RECORDSINC., ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15a Florida corporation, whose office address is ▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ (herein “Tenant”).

TABLE OF CONTENTS. ARTICLE I 1 DEFINITIONS 1 AND INCORPORATION BY REFERENCE 2 Section 1.1 1.01 Definitions 1 2 Section 1.2 1.02 Other Definitions 7 Section 1.03 Incorporation by Reference of Trust Indenture Act 7 Section 1.04 Rules of Construction 7 ARTICLE 2 THE SECURITIES 8 Section 2.01 Issuable in Series 8 Section 2.02 Establishment of Terms of Series of Securities 8 Section 2.03 Execution and Authentication 11 Section 2.04 Registrar and Paying Agent 11 Section 2.05 Paying Agent to Hold Money in Trust 12 Section 2.06 Holder Lists 12 Section 2.07 Transfer and Exchange 13 Section 2.08 Replacement Securities 13 Section 2.09 Outstanding Securities 13 Section 2.10 Treasury Securities 14 Section 2.11 Temporary Securities 14 Section 2.12 Cancellation 14 Section 2.13 Persons Deemed Owners 15 Section 2.14 Defaulted Interest 15 Section 2.15 Global Securities 15 Section 2.16 CUSIP Numbers 16 ARTICLE 3 REDEMPTION 17 Section 3.01 Notices to Trustee 17 Section 3.02 Selection of Securities to be Redeemed 17 Section 3.03 Notice of Redemption 18 Section 3.04 Effect of Notice of Redemption 18 Section 3.05 Deposit of Redemption Price 19 Section 3.06 Securities Redeemed in Part 19 ARTICLE 4 COVENANTS 19 Section 4.01 Payment of Securities 19 Section 4.02 Reports 19 Section 4.03 Compliance Certificate 20 Section 4.04 Stay, Extension and Usury Laws 21 Section 4.05 Corporate Existence 21 ARTICLE II ORGANIZATION 4 5 SUCCESSORS 21 Section 2.1 Formation 4 5.01 Merger, Consolidation, or Sale of Assets 21 Section 2.2 Name 4 5.02 Successor Corporation Substituted 22 ARTICLE 6 DEFAULTS AND REMEDIES 23 Section 2.3 Registered Office6.01 Events of Default 23 Section 6.02 Acceleration 24 Section 6.03 Collection of Suit by Trustee 24 Section 6.04 Trustee May File Proofs of Claim 24 Section 6.05 Trustee May Enforce Claims Without Possession of Securities 25 Section 6.06 Application of Money Collected 25 Section 6.07 Limitation on Suits 25 Section 6.08 Unconditional Right of Holders to Receive Principal and Interest 26 Section 6.09 Restoration of Rights and Remedies 26 Section 6.10 Rights and Remedies Cumulative 26 Section 6.11 Delay or Omission Not Waiver 27 Section 6.12 Control by Holders 27 Section 6.13 Waiver of Past Defaults 27 Section 6.14 Undertaking for Costs 27 ARTICLE 7 TRUSTEE 28 Section 7.01 Duties of Trustee 28 Section 7.02 Rights of Trustee 29 Section 7.03 Individual Rights of Trustee 30 Section 7.04 Trustee’s Disclaimer 30 Section 7.05 Notice of Defaults 31 Section 7.06 Reports by Trustee to Holders of the Securities 31 Section 7.07 Compensation and Indemnity 31 Section 7.08 Replacement of Trustee 32 Section 7.09 Successor Trustee by Merger, etc. 33 Section 7.10 Eligibility; Registered Agent; Principal OfficeDisqualification 33 Section 7.11 Preferential Collection of Claims Against Company 33 ARTICLE 8 LEGAL DEFEASANCE AND COVENANT DEFEASANCE 33 Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance 33 Section 8.02 Legal Defeasance and Discharge 34 Section 8.03 Covenant Defeasance 34 Section 8.04 Conditions to Legal or Covenant Defeasance 35 Section 8.05 Deposited Money and Government Securities to be Held in Trust; Other Offices 4 Miscellaneous Provisions 36 Section 2.4 Purposes 4 8.06 Repayment to Company 37 Section 2.5 Qualification 8.07 Reinstatement 37 ARTICLE 9 AMENDMENT, SUPPLEMENT AND WAIVER 38 Section 9.01 Without Consent of Holders of Securities 38 Section 9.02 With Consent of Holders of Securities 39 Section 9.03 Compliance with Trust Indenture Act 40 Section 9.04 Revocation and Effect of Consents 40 Section 9.05 Notation on or Exchange of Securities 41 Section 9.06 Trustee to Sign Amendments, etc. 41 ARTICLE 10 SECURITY GUARANTEES 41 Section 10.01 Security Guarantees 41 Section 10.02 Limitation on Guarantor Liability 42 Section 10.03 Execution and Delivery of Security Guarantee 43 Section 10.04 Releases 43 ARTICLE 11 SATISFACTION AND DISCHARGE 44 Section 11.01 Satisfaction and Discharge 44 Section 11.02 Application of Trust Money 45 ARTICLE 12 MISCELLANEOUS 45 Section 12.01 Trust Indenture Act Controls 45 Section 12.02 Notices 45 Section 12.03 Communication by Holders with Other Holders 47 Section 12.04 Certificate and Opinion as to Conditions Precedent 47 Section 12.05 Statements Required in Certificate or Opinion 47 Section 12.06 Rules by Trustee and Agents 47 Section 12.07 No Personal Liability of Directors, Officers, Employees and Stockholders 48 Section 12.08 Counterparts 48 Section 12.09 Legal Holidays 48 Section 12.10 Governing Laws 48 Section 12.11 Waiver of Jury Trial 48 Section 12.12 No Adverse Interpretation of Other Jurisdictions 4 Agreements 48 Section 2.6 Powers 4 12.13 Successors 48 Section 2.7 Power 12.14 Severability 49 Section 12.15 Table of Attorney 5 Contents, Headings, Etc. 49 Section 2.8 Term 6 12.16 Securities in a Foreign Currency or in ECU 49 Section 2.9 Certificate 12.17 Judgment Currency 50 Section 12.18 Force Majeure 50 Section 12.19 U.S.A. Patriot Act 50 Section 12.20 Beneficiaries of Formation 6 this Indenture 51 ARTICLE III MEMBERS AND UNITS 6 13 SINKING FUNDS 51 Section 3.1 Members 6 13.01 Applicability of Article 51 Section 3.2 Authorization to Issue Units 7 13.02 Satisfaction of Sinking Fund Payments with Securities 51 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer 13.03 Redemption of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment Securities for Sinking Fund 52 Exhibit A Form of Taxes 9 Section 4.3 Absence Notation of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Guarantee 310(a)(1) 7.10 (a)(2) 7.10

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 Definitions 1 Section 1.2 Construction SECTION 1.01. Purpose of this Agreement 4 ARTICLE II ORGANIZATION SECTION 1.02. General Undertakings 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent; Principal Office; SECTION 3.01. Number of directors 10 SECTION 3.02. Nomination and Appointment of directors 10 SECTION 3.03. Election of the Company Board 10 SECTION 3.04. Removal and vacancies of directors 11 SECTION 3.05. Board meetings 11 SECTION 3.06. Charter Documents 12 SECTION 4.01. Company shareholders’ meetings 12 SECTION 4.02. Ownership Matters 12 SECTION 4.03. Key Operational Matters 15 SECTION 4.04. Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power Operational Matters 15 SECTION 4.05. Order of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization Alternating Casting Votes 16 SECTION 4.06. Shares directly held by EPS, EPS Participations, Rayvax and BRC or other Holders 16 SECTION 5.01. Transfer restrictions relating to Issue Units 7 Section 3.3 Class A Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and 17 SECTION 5.02. Transfer restrictions relating to Class B Certificates 18 SECTION 5.03. Procedures Relating to the Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment Certificates 20 SECTION 5.04. Sanction in case of Taxes 9 Section 4.3 Absence violation of Certain Other Rights 9 ARTICLE Article V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power 20 SECTION 5.05. Free Transfers 20 SECTION 5.06. Certificate Transfers 21 SECTION 5.07. Stop Transfer. Legend 21 SECTION 5.08. Restrictions on Acquisition of AmBev shares 21 SECTION 5.09. Call Option 22 SECTION 5.10. General Undertaking 23 SECTION 6.01. Pledge of certificated Shares and/or corresponding Certificates 23 SECTION 6.02. Formalities and Authority other rules 26 SECTION 7.01. De-certifications in connection with prepayment or reimbursement of the Manager 9 Section 5.2 Term and Withdrawal Financing Arrangement(s) 26 SECTION 7.02. De-certification of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties Shares in case of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement Event of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Default 27

TABLE OF CONTENTS. (This Table of Contents is not a part of the Indenture and is only for convenience of reference.) SECTION PAGE Recitals 1 ARTICLE I DEFINITIONS 1 3 Section 1.1 1.01. Definitions 1 3 Section 1.2 Construction 4 1.02. Authorization 8 Section 1.03. Interpretation 8 ARTICLE II ORGANIZATION 4 THE CERTIFICATES OF PARTICIPATION 8 Section 2.1 Formation 4 2.01. Authorization 8 Section 2.2 Name 4 2.02. Date 9 Section 2.3 Registered Office2.03. Maturity; Registered AgentInterest Rates 9 Section 2.04. Form of Certificates 10 Section 2.05. Payment of Interest 10 Section 2.06. Execution 10 Section 2.07. Application of Proceeds 10 Section 2.08. Registration, Transfer and Exchange of Certificates 10 Section 2.09. Mutilated, Lost, Destroyed and Stolen Certificates 11 Section 2.10. Payment 11 Section 2.11. Execution of Documents and Proof of Ownership 12 Section 2.12. Certificate Register 12 Section 2.13. Global Book Entry 12 ARTICLE III ACQUISITION FUND 14 Section 3.01. Acquisition Fund 14 Section 3.02. Disbursements 14 ARTICLE IV REDEMPTION OF CERTIFICATES 14 Section 4.01. Redemption upon Event of Nonappropriation and Termination of Purchase Contract 14 Section 4.02. Optional Redemption 15 Section 4.03. Mandatory Sinking Fund Redemption 15 Section 4.04. Effect of Call for Redemption 16 Section 4.05. Notice of Redemption 16 Section 4.06. Partial Redemption 17 ARTICLE V INSTALLMENT PAYMENTS; Principal OfficeADDITIONAL PAYMENTS; INSTALLMENT PAYMENT FUND 17 Section 5.01. Rights in Purchase Contract 17 Section 5.02. Establishment of Installment Payment Fund 17 Section 5.03. Deposits 18 Section 5.04. Application of Moneys 18 Section 5.05. Surplus 18 ARTICLE VI FORM OF THE CERTIFICATES 18 ARTICLE VII MONEYS IN FUNDS; INVESTMENT 23 Section 7.01. Held in Trust 23 Section 7.02. Investments Authorized 23 Section 7.03. Investment Earnings 24 Section 7.04. Liability of Trustee for Investments 25 Section 7.05. Tax Agreement; Creation of Rebate Fund 25 Section 7.06. Arbitrage Covenant 25 ARTICLE VIII THE TRUSTEE 26 Section 8.01. Certain Duties and Responsibilities 26 Section 8.02. Certain Rights of Trustee 27 Section 8.03. Employment of Experts 29 Section 8.04. Enforcement of Performance by Others 29 Section 8.05. Right to Deal in Certificates and Take Other Offices 4 Actions 29 Section 2.4 Purposes 4 8.06. Removal and Resignation of the Trustee 29 Section 2.5 Qualification in Other Jurisdictions 4 8.07. Proof of Claim 30 Section 2.6 Powers 4 8.08. Trustee’s Fees and Expenses 30 Section 2.7 8.09. Intervention by Trustee 31 Section 8.10. Reports 31 Section 8.11. Separate or Co-Trustee 31 Section 8.12. Recitals and Representations 33 ARTICLE IX MODIFICATION OR AMENDMENT OF AGREEMENTS 34 Section 9.01. Amendments Permitted 34 Section 9.02. Procedure for Amendment with Written Consent of Certificate Owners 35 Section 9.03. Disqualified Certificates 36 Section 9.04. Effect of Supplemental Agreement 36 ARTICLE X COVENANTS; NOTICE 36 Section 10.01. Compliance with and Enforcement of Purchase Contract 36 Section 10.02. Observance of Laws and Regulations 37 Section 10.03. Prosecution and Defense of Suits 37 Section 10.04. Filing 37 Section 10.05. Payments Due on Non-Business Days 37 Section 10.06. Further Assurances 37 Section 10.07. Parties Interested Herein 37 ARTICLE XI LIMITATION OF LIABILITY 38 Section 11.01. Limited Liability of Board 38 Section 11.02. No Liability of the Board for Trustee Performance 38 Section 11.03. Limitation of Rights to Parties and Certificate Owners 38 Section 11.04. No Liability of the Trustee for Payment of Installment Payments by Board 38 ARTICLE XII EVENTS OF DEFAULT AND REMEDIES OF CERTIFICATE OWNERS 39 Section 12.01. Remedies 39 Section 12.02. Institution of Legal Proceedings 39 Section 12.03. Application of Funds 39 Section 12.04. Non-waiver 40 Section 12.05. Remedies Not Exclusive 40 Section 12.06. Power of Attorney 5 Trustee to Control Proceedings 40 Section 2.8 Term 6 12.07. Limitation on Certificate Owners’ Right to ▇▇▇ 40 ARTICLE XIII MISCELLANEOUS 41 Section 2.9 Certificate 13.01. Defeasance 41 Section 13.02. Notices 42 Section 13.03. Governing Law 43 Section 13.04. Binding Effect; Successors 43 Section 13.05. Execution in Counterparts 43 Section 13.06. Destruction of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Cancelled Certificates 43 Section 3.1 Members 6 13.07. Waiver of Notice 43 Section 3.2 Authorization to Issue Units 7 13.08. Separability of Invalid Provisions 43 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration 13.09. Bills of Sale 44 Signatures 45 EXHIBIT A – Form of Requisition – Acquisition Fund ACKNOWLEDGMENTS INDENTURE OF TRUST THIS INDENTURE OF TRUST (this “Indenture”), made and Transfer entered into as of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment this 1st day of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power April, 2014, by and Authority between U.S. BANK NATIONAL ASSOCIATION, a national banking association duly organized and existing under the laws of the Manager 9 Section 5.2 Term United States of America, as trustee (the “Trustee”), and Withdrawal the BOARD OF TRUSTEES OF ILLINOIS STATE UNIVERSITY, a body corporate and politic of the Manager 11 Section 5.3 Determinations by State of Illinois (the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15“Board”),

TABLE OF CONTENTS. ARTICLE I DEFINITIONS Certain Definitions. 1 Section 1.1 Definitions 1 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 2. Appointment of Attorney the Document Custodian. 5 Section 2.8 Term 3. Delivery of Collateral Files 5 Section 4. Release of Collateral Files 6 Section 2.9 Certificate 5. Further Obligations of Formation 6 ARTICLE III MEMBERS AND UNITS the Document Custodian 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 6. Proper Instructions 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer 7. Transmission of Units Collateral Files 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8. Fees of the Document Custodian 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment 9. Resignation or Removal of Taxes Document Custodian; Termination of Agreement 9 Section 4.3 Absence 10. Representations 10 Section 11. Notices 10 Section 12. Concerning the Document Custodian. 11 Section 13. Force Majeure 13 Section 14. Indemnification. 13 Section 15. Amendments 14 Section 16. Effective Waiver 14 Section 17. Severability 14 Section 18. Binding Effect; Governing Law 14 Section 19. Successors and Assigns; Third Party Benefit 14 Section 20. Entire Agreement; Counterparts. 15 Section 21. Other Business 15 Section 22. Reproduction of Certain Other Documents 15 Section 23. Confidentiality. 16 Section 24. Actions Necessary to Preserve Rights 9 ARTICLE V MANAGEMENT AND OPERATION under Collateral Documents 16 Section 25. SUBMISSION TO JURISDICTION; WAIVERS. 16 Section 26. Compliance with Applicable Law. 17 SCHEDULE I RECOMMENDED DATA FILE CRITERIA EXHIBIT A AUTHORIZED REPRESENTATIVES EXHIBIT B FORM OF BUSINESS 9 Section 5.1 Power REQUEST FOR RELEASE EXHIBIT C FORM OF COMPANY JOINDER This DOCUMENT CUSTODY AGREEMENT is made and Authority entered into as of July 14, 2025 by and between Fortress Private Lending Fund (the “Company”), a Delaware statutory trust, and U.S. Bank National Association, a national banking association, organized under the laws of the Manager 9 Section 5.2 Term and Withdrawal of United States, as document custodian (the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15“Document Custodian”).

TABLE OF CONTENTS. Overtime Payments: 10 Section 3. Shift Differential: 11 Section 4. Boiler License Premium: 11 Section 5. Pay Dates 11 Section 6. Attendance Incentive: 11 Section 7. Uniform Allowance: 11 Section 8. Food Service Certification Pay: 11 Section 9. Employees Substituting for Other Bargaining Unit Employees: 12 Section 10. Training for Education paraprofessionals: 12 Section 11. Building Checks: 12 Section 12. Minimum Callback Pay: 12 Section 13. Death of Employee: 12 Section 14. Longevity: 12 Section 15. Kids Company 13 ARTICLE I DEFINITIONS 1 VII 13 GROUP INSURANCE Section 1.1 Definitions 1 1. Selection of Carrier 13 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 4 2. Health and Hospitalization Insurance 13 Section 2.1 Formation 4 3. Disability Insurance 14 Section 2.2 Name 4 4. Term Life Insurance 15 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 5. Claims Against the School District 15 Section 2.4 Purposes 4 6. Duration of Insurance Contribution 15 Section 2.5 Qualification in Other Jurisdictions 4 7. Establishment of a Variable Employee Beneficiary Association 15 (VEBA)with Health Reimbursements Arrangements (HRAs) for Active Employees Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 8. Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS Administrative Fee 15 Section 6.1 Records and Accounting 15 9. Employer Contributions to the HRA for Active Participants 16 ARTICLE VIII SEVERANCE PAY 16 Section 6.2 Fiscal Year 15 1. Eligibility 16 Section 6.3 Reports 152. Severance Payment 16 ARTICLE IX 17 SCHOOL DISTRICT MATCH 403(B) TAX DEFFERED ANNUITY Section 1. Eligibility 17 ARTICLE X 17 LEAVES OF ABSENCE

TABLE OF CONTENTS. ARTICLE I I. - DEFINITIONS 1 Section 1.1 1.1. Definitions 1 Section 1.2 Construction 4 1.2. General; References to Times 26 ARTICLE II ORGANIZATION 4 II. - CREDIT FACILITY 27 Section 2.1 Formation 4 2.1. Loans 27 Section 2.2 Name 4 2.2. Letters of Credit 28 Section 2.3 Registered Office2.3. Rates and Payment of Interest on Loans 32 Section 2.4. Number of Interest Periods 32 Section 2.5. Repayment of Loans 33 Section 2.6. Prepayments 33 Section 2.7. Continuation 33 Section 2.8. Conversion 34 Section 2.9. Notes 34 Section 2.10. Voluntary Reductions of the Commitment 35 Section 2.11. Expiration or Maturity Date of Letters of Credit Past Termination Date 35 Section 2.12. Amount Limitations 35 Section 2.13. Joint and Several Liability 35 Section 2.14. The Increased Loan Amount 37 Section 2.15. Borrower Representative 39 ARTICLE III. - PAYMENTS, FEES AND OTHER GENERAL PROVISIONS 39 Section 3.1. Payments 39 Section 3.2. Pro Rata Treatment 40 Section 3.3. Sharing of Payments, Etc. 40 Section 3.4. Several Obligations 41 Section 3.5. Minimum Amounts 41 Section 3.6. Fees 41 Section 3.7. Computations 42 Section 3.8. Usury 42 Section 3.9. Agreement Regarding Interest and Charges 42 Section 3.10. Statements of Account 43 Section 3.11. Defaulting Lenders 43 Section 3.12. Taxes 44 ARTICLE IV. - YIELD PROTECTION, ETC. 46 Section 4.1. Additional Costs; Registered Agent; Principal Office; Other Offices 4 Capital Adequacy 46 Section 2.4 Purposes 4 4.2. Suspension of LIBOR Loans 47 Section 2.5 Qualification in Other Jurisdictions 4 4.3. Illegality 48 Section 2.6 Powers 4 4.4. Compensation 48 Section 2.7 Power 4.5. Affected Lenders 49 Section 4.6. Treatment of Attorney 5 Affected Loans 49 Section 2.8 Term 6 4.7. Change of Lending Office 50 Section 2.9 Certificate 4.8. Assumptions Concerning Funding of Formation 6 LIBOR Loans 50 ARTICLE III MEMBERS V. - CONDITIONS PRECEDENT 50 Section 5.1. Initial Conditions Precedent 50 Section 5.2. Conditions Precedent to All Loans and Letters of Credit 52 ARTICLE VI. - REPRESENTATIONS AND UNITS 6 WARRANTIES 53 Section 3.1 Members 6 6.1. Representations and Warranties 53 Section 3.2 Authorization 6.2. Survival of Representations and Warranties, Etc. 59 Section 6.3. Applicability of Representations and Warranties to Issue Units 7 City Center Project 59 ARTICLE VII. - AFFIRMATIVE COVENANTS 59 Section 3.3 Certificates 7 7.1. Preservation of Existence and Similar Matters 59 Section 3.4 Record Holders 7 7.2. Compliance with Applicable Law and Material Contracts 60 Section 3.5 Registration and Transfer 7.3. Maintenance of Units 8 Property 60 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 7.4. Conduct of Business 60 Section 4.1 Distributions to Record Holders 8 7.5. Insurance 60 Section 4.2 7.6. Payment of Taxes 9 and Claims 60 Section 4.3 Absence 7.7. Visits and Inspections 61 Section 7.8. Use of Proceeds; Letters of Credit 61 Section 7.9. Environmental Matters 61 Section 7.10. Books and Records 62 Section 7.11. Further Assurances 62 Section 7.12. Replacement or Addition of Unencumbered Properties 62 Section 7.13. Removal of Unencumbered Property 63 Section 7.14. REIT Status 64 Section 7.15. Exchange Listing 64 Section 7.16. Distributions of Income to EPR 64 Section 7.17. Failure of Certain Unencumbered Assets Representations and Warranties 65 Section 7.18. Property 65 Section 7.19. Applicability of Affirmative Covenants to City Center Project 66 ARTICLE VIII. - INFORMATION 67 Section 8.1. Financial Statements, Certificates and Information 67 Section 8.2. Other Information 69 ARTICLE IX. - NEGATIVE COVENANTS 70 Section 9.1. Financial Covenants 70 Section 9.2. Distributions 72 Section 9.3. Indebtedness 72 Section 9.4. Permitted Investments 74 Section 9.5. ERISA Exemptions 76 Section 9.6. Liens 76 Section 9.7. Merger, Consolidation, Sales of Assets and Other Arrangements 76 Section 9.8. Fiscal Year 77 Section 9.9. Modifications to Material Contracts 77 Section 9.10. Modifications of Organizational Documents 77 Section 9.11. Transactions with Affiliates 77 Section 9.12. Applicability of Negative Covenants to City Center Project 77 ARTICLE X. - DEFAULT 77 Section 10.1. Events of Default 77 Section 10.2. Limitation of Cure Periods 81 Section 10.3. Remedies Upon Default 82 Section 10.4. Allocation of Proceeds 83 Section 10.5. Collateral Account 83 Section 10.6. Performance by Agent 84 Section 10.7. Rights 9 Cumulative 84 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 XI. - THE AGENT 85 Section 5.1 Power 11.1. Authorization and Authority Action 85 Section 11.2. Agent’s Reliance, Etc. 85 Section 11.3. Notice of Defaults 86 Section 11.4. KeyBank as Lender 86 Section 11.5. Approvals of Lenders 87 Section 11.6. Lender Credit Decision, Etc. 87 Section 11.7. Indemnification of Agent 88 Section 11.8. Successor Agent 89 Section 11.9. Titled Agents 89 ARTICLE XII. - MISCELLANEOUS 89 Section 12.1. Notices 89 Section 12.2. Expenses 91 Section 12.3. Setoff 91 Section 12.4. Litigation; Jurisdiction; Other Matters; Waivers 92 Section 12.5. Successors and Assigns 93 Section 12.6. Amendments 95 Section 12.7. Nonliability of Agent and Lenders 97 Section 12.8. Confidentiality 97 Section 12.9. Indemnification 98 Section 12.10. Termination; Survival 100 Section 12.11. Severability of Provisions 100 Section 12.12. GOVERNING LAW 101 Section 12.13. Patriot Act 101 Section 12.14. Counterparts 101 Section 12.15. Obligations with Respect to Borrowers 101 Section 12.16. Limitation of Liability 101 Section 12.17. Entire Agreement 101 Section 12.18. Construction 101 SCHEDULE 1.1(A) Initial Subsidiary Borrowers SCHEDULE 1.1(B) Initial Eligible Real Estate SCHEDULE 2 Eligible Real Estate Qualification Documents SCHEDULE 6.1.(b) Ownership Structure SCHEDULE 6.1.(f) Title to Properties; Liens SCHEDULE 6.1.(g) Indebtedness and Guaranties SCHEDULE 6.1.(h) Material Contracts SCHEDULE 6.1.(i) Litigation SCHEDULE 9.1(k) Secured Recourse Indebtedness EXHIBIT A Form of Assignment and Assumption Agreement EXHIBIT B Form of Notice of Borrowing EXHIBIT C Form of Notice of Continuation EXHIBIT D Form of Notice of Conversion EXHIBIT E Form of Note EXHIBIT F Form of Compliance Certificate EXHIBIT G Form of Availability Certificate EXHIBIT H Form of Joinder Agreement THIS CREDIT AGREEMENT (this “Agreement”) dated as of June 30, 2010 by and among ENTERTAINMENT PROPERTIES TRUST, a Maryland real estate investment trust (“EPR”), the Subsidiary Borrowers (as defined herein), the Lenders (as defined herein) and KEYBANK NATIONAL ASSOCIATION, as administrative agent (“Keybank” and/or the “Agent”), ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ BANK, N.A. and RBC CAPITAL MARKETS CORPORATION, as co-syndication agents (the “Syndication Agents”), and each of KEYBANC CAPITAL MARKETS, LLC, ▇.▇. ▇▇▇▇▇▇ SECURITIES, INC. and RBC CAPITAL MARKETS CORPORATION, as joint lead arrangers and joint book runners (each as “Arrangers”), and each of the Manager 9 financial institutions initially a signatory hereto together with their assignees pursuant to Section 5.2 Term 12.5.(d). EPR and Withdrawal of the Manager 11 Section 5.3 Determinations by Subsidiary Borrowers are each referred to herein as a “Borrower” and are collectively referred to herein as the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15“Borrowers.”

TABLE OF CONTENTS. ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 1 Section 1.1 SECTION 1.1. Definitions 1 Section 1.2 Construction 4 SECTION 1.2. Compliance Certificate and Opinions 11 SECTION 1.3. Forms of Documents Delivered to Trustee 11 SECTION 1.4. Acts of Holders 12 SECTION 1.5. Notices, Etc. to Trustee and Company 14 SECTION 1.6. Notice to Holders; Waiver 14 SECTION 1.7. Conflict with Trust Indenture Act 15 SECTION 1.8. Effect of Headings and Table of Contents 15 SECTION 1.9. Successors and Assigns 15 SECTION 1.10. Separability Clause 15 SECTION 1.11. Benefits of Indenture 15 SECTION 1.12. Governing Law 15 SECTION 1.13. Non-Business Days 16 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification SECURITY FORMS 16 SECTION 2.1. Forms Generally 16 SECTION 2.2. Form of Face of Security 17 SECTION 2.3. Additional Provisions Required in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power Global Security 17 SECTION 2.4. Form of Attorney 5 Section 2.8 Term 6 Section 2.9 Trustee’s Certificate of Formation 6 Authentication 17 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration THE SECURITIES 18 SECTION 3.1. Title and Terms 18 SECTION 3.2. Denominations 21 SECTION 3.3. Execution, Authentication, Delivery and Dating 21 SECTION 3.4. Temporary Securities 22 SECTION 3.5. Global Securities 23 SECTION 3.6. Registration, Transfer and Exchange Generally; Certain Transfers and Exchanges 24 SECTION 3.7. Mutilated, Lost and Stolen Securities 26 SECTION 3.8. Payment of Units 8 Section 3.6 Agreements 8 Interest and Additional Interest; Interest Rights Preserved 27 SECTION 3.9. Persons Deemed Owners 28 SECTION 3.10. Cancellation 29 SECTION 3.11. Computation of Interest 29 SECTION 3.12. Deferrals of Interest Payment Dates 29 SECTION 3.13. Right of Set-Off 31 SECTION 3.14. Agreed Tax Treatment 31 SECTION 3.15. Shortening or Extension of Stated Maturity 31 SECTION 3.16. CUSIP Numbers 31 ARTICLE IV DISTRIBUTIONS SATISFACTION AND REDEMPTIONS 8 Section 4.1 Distributions DISCHARGE 31 SECTION 4.1. Satisfaction and Discharge of Indenture 31 SECTION 4.2 Application of Trust Money 33 ARTICLE V REMEDIES 33 SECTION 5.1. Events of Default 33 SECTION 5.2. Acceleration of Maturity; Rescission and Annulment 34 SECTION 5.3. Collection of Indebtedness and Suits for Enforcement by Trustee 36 SECTION 5.4. Trustee May File Proofs of Claim 36 SECTION 5.5. Trustee May Enforce Claim Without Possession of Securities 37 SECTION 5.6 Application of Money Collected 37 SECTION 5.7 Limitation on Suits 38 SECTION 5.8. Unconditional Right of Holders to Record Receive Principal, Premium and Interest; Direct Action by Holders 8 Section 4.2 of Capital Securities 39 SECTION 5.9. Restoration of Rights and Remedies 39 SECTION 5.10. Rights and Remedies Cumulative 39 SECTION 5.11. Delay or Omission Not Waiver 39 SECTION 5.12. Control by Holders 40 SECTION 5.13. Waiver of Past Defaults 40 SECTION 5.14. Undertaking for Costs 41 SECTION 5.15. Waiver of Usury, Stay or Extension Laws 41 ARTICLE VI THE TRUSTEE 42 SECTION 6.1. Certain Duties and Responsibilities 42 SECTION 6.2. Notice of Defaults 43 SECTION 6.3. Certain Rights of Trustee 43 SECTION 6.4. Not Responsible for Recitals or Issuance of Securities 44 SECTION 6.5. May Hold Securities 44 SECTION 6.6. Money Held in Trust 44 SECTION 6.7. Compensation and Reimbursement 44 SECTION 6.8. Disqualification; Conflicting Interests 45 SECTION 6.9. Corporate Trustee Required; Eligibility 46 SECTION 6.10. Resignation and Removal; Appointment of Successor 46 SECTION 6.11. Acceptance of Appointment by Successor 48 SECTION 6.12. Merger, Conversion, Consolidation or Succession to Business 49 SECTION 6.13. Preferential Collection of Claims Against Company 49 SECTION 6.14. Appointment of Authenticating Agent 49 ARTICLE VII HOLDER’S LISTS AND REPORTS BY TRUSTEE, PAYING AGENT AND COMPANY 51 SECTION 7.1. Company to Furnish Trustee Names and Addresses of Holders 51 SECTION 7.2. Preservation of Information; Communications to Holders 51 SECTION 7.3. Reports by Trustee and Paying Agent 52 SECTION 7.4. Reports by Company 52 ARTICLE VIII CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 53 SECTION 8.1. Company May Consolidate, Etc., Only on Certain Terms 53 SECTION 8.2. Successor Company Substituted 53 ARTICLE IX SUPPLEMENTAL INDENTURES 54 SECTION 9.1. Supplemental Indentures Without Consent of Holders 54 SECTION 9.2. Supplemental Indentures with Consent of Holders 55 SECTION 9.3. Execution of Supplemental Indentures 57 SECTION 9.4. Effect of Supplemental Indentures 57 SECTION 9.5. Conformity with Trust Indenture Act 57 SECTION 9.6. Reference in Securities to Supplemental Indentures 57 ARTICLE X COVENANTS 57 SECTION 10.1. Payment of Taxes 9 Section 4.3 Absence Principal, Premium and Interest 57 SECTION 10.2. Maintenance of Office or Agency 58 SECTION 10.3. Money for Security Payments to be Held in Trust 58 SECTION 10.4. Statement as to Compliance 59 SECTION 10.5. Waiver of Certain Other Covenants 60 SECTION 10.6. Additional Sums 60 SECTION 10.7. Additional Covenants 60 SECTION 10.8. Furnishing Information 62 ARTICLE XI REDEMPTION OF SECURITIES 62 SECTION 11.1. Applicability of This Article 62 SECTION 11.2. Election to Redeem; Notice to Trustee 62 SECTION 11.3. Selection of Securities to be Redeemed 63 SECTION 11.4. Notice of Redemption 63 SECTION 11.5. Deposit of Redemption Price 64 SECTION 11.6. Payment of Securities Called for Redemption 64 SECTION 11.7. Right of Redemption of Securities Initially Issued to an Issuer Trust 65 ARTICLE XII SINKING FUNDS 65 ARTICLE XIII SUBORDINATION OF SECURITIES 66 SECTION 13.1. Securities Subordinate to Senior Indebtedness 66 SECTION 13.2. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc. 66 SECTION 13.3. Payment Permitted If No Default 68 SECTION 13.4. Subrogation to Rights 9 ARTICLE V MANAGEMENT AND OPERATION of Holders of Senior Indebtedness; Etc. 68 SECTION 13.5. Provisions Solely to Define Relative Rights 69 SECTION 13.6. Trustee to Effectuate Subordination 69 SECTION 13.7. No Waiver of Subordination Provisions 69 SECTION 13.8. Notice to Trustee 70 SECTION 13.9. Reliance on Judicial Order or Certificate of Liquidating Agent 71 SECTION 13.10. Trustee Not Fiduciary for Holders of Senior Indebtedness 71 SECTION 13.11. Rights of Trustee as Holder of Senior Indebtedness; Preservation of Trustee’s Rights 71 SECTION 13.12. Article Applicable to Paying Agents 71 SECTION 13.13. Certain Conversions or Exchanges Deemed Payment 72 EXHIBIT A. FORM OF BUSINESS 9 Section 5.1 Power DEBENTURE A-1 EXHIBIT B. FORM OF RESTRICTED SECURITIES CERTIFICATE B-1 THIS JUNIOR SUBORDINATED INDENTURE, dated as of December 21, 2006, is between GAINSCO, INC., a Texas corporation, having its principal office at ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇, Suite 1200, Dallas, Texas 75219, and Authority of U.S. BANK NATIONAL ASSOCIATION, as Trustee, having its principal office at ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ (the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15“Trustee”).

TABLE OF CONTENTS. ARTICLE This Table of Contents is not part of the Loan Agreement, and is for convenience only. The captions herein are of no legal effect and do not vary the meaning or legal effect of any part of the Loan Agreement. Recitals 1 Article I DEFINITIONS 1 Definitions 2 Article II 2 Section 1.1 Definitions 1 2.01. Representations, Warranties and Agreements of Issuer 2 Section 1.2 Construction 2.02. Representations, Warranties and Agreements of Company 4 ARTICLE II ORGANIZATION 4 Article III Issuance of the Bonds; The Loan; Disposition of Proceeds of the Bonds; The Project 7 Section 2.1 Formation 4 3.01. Issuance of Bonds 7 Section 2.2 Name 4 3.02. Issuance of Other Obligations 7 Section 2.3 Registered Office3.03. The Loan; Registered AgentDisposition of Bond Proceeds 8 Section 3.04. Project Changes 9 Article IV Loan Payments; Principal OfficePayments to Remarketing Agent and Trustee; Standby Purchase Agreement and Alternate Liquidity Facilities; First Mortgage Bonds and Substitute Collateral; Other Offices 4 Obligations 9 Section 2.4 Purposes 4 4.01. Loan Payments 9 Section 2.5 Qualification in Other Jurisdictions 4 4.02. Payments of Purchase Price 10 Section 2.6 Powers 4 4.03. Standby Purchase Agreement; Alternate Liquidity Facility 10 Section 2.7 Power 4.04. Issuance, Delivery and Surrender of Attorney 5 First Mortgage Bonds and Substitute Collateral 11 Section 2.8 Term 6 4.05. Payments Assigned; Obligation Absolute 14 Section 2.9 Certificate 4.06. Payment of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Expenses 15 Section 3.1 Members 6 4.07. Indemnification 15 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 4.08. Payment of Taxes 9 and Charges in Lieu Thereof 15 Section 4.3 Absence 4.09. Compliance with Prior Agreements 16 Article V Special Covenants 16 Section 5.01. Maintenance of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Existence; Conditions Under Which 16 Exceptions Permitted 17 Section 5.1 Power and Authority 5.02. Permits or Licenses 17 Section 5.03. Arbitrage Covenant 17 Section 5.04. Financing Statements 18 Section 5.05. Covenants With Respect to Tax-Exempt Status of the Manager 9 Bonds 18 Section 5.2 Term 5.06. Indemnification of Issuer 18 Section 5.07. Records of Company; Maintenance and Withdrawal Operation of the Manager 11 Project 19 Section 5.3 Determinations by 5.08. Right of Access to the Manager 11 Project 20 Section 5.4 Exculpation, Indemnification, Advances 5.09. Remarketing Agent 20 Section 5.10. Insurance Policy 20 Article VI Assignment 21 Section 6.01. Conditions 21 Section 6.02. Documents Furnished to Trustee 21 Section 6.03. Limitation 21 Article VII Events of Default and Insurance 12 Remedies 22 Section 5.5 Duties 7.01. Events of Default 22 Section 7.02. Force Majeure 23 Section 7.03. Remedies 23 Section 7.04. No Remedy Exclusive 24 Section 7.05. Reimbursement of Attorneys' Fees 24 Section 7.06. Waiver of Breach 24 Section 7.07. No Liability of Issuer 24 Article VIII Purchase or Redemption of Bonds 25 Section 8.01. Redemption of Bonds 25 Section 8.02. Purchase of Bonds 25 Section 8.03. Obligation to Prepay 25 Section 8.04. Compliance With Indenture 26 Article IX Miscellaneous 27 Section 9.01. Term of Agreement 27 Section 9.02. Notices 27 Section 9.03. Parties in Interest 28 Section 9.04. Amendments 28 Section 9.05. Counterparts 28 Section 9.06. Severability 29 Section 9.07. Governing Law 29 Section 9.08. Payments From Bond Fund 30 Testimonium 31 Signatures and Seals 31 Exhibit A - Description of the Manager Facilities 31 -ii- Loan Agreement This Loan Agreement, dated as of October 1, 2006, is between Sweetwater County, Wyoming, a political subdivision duly organized and its Officers existing under the Constitution and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement laws of Expenses 14 ARTICLE VI BOOKSthe State of Wyoming, RECORDSand Idaho Power Company, ACCOUNTING AND REPORTS 15 Section 6.1 Records a corporation duly organized under the laws of the State of Idaho, and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15duly qualified to conduct business in the State of Wyoming.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE 1 Section 1.1 1.01 Definitions 1 Section 1.2 1.02 Other Definitions 5 Section 1.03 Incorporation by Reference of Trust Indenture Act 5 Section 1.04 Rules of Construction 4 6 ARTICLE II ORGANIZATION 4 2 THE SECURITIES 6 Section 2.1 Formation 4 2.01 Form and Dating 6 Section 2.2 Name 4 2.02 Execution and Authentication 6 Section 2.3 Registered Office2.03 Amount Unlimited; Registered Issuable in Series 8 Section 2.04 Denomination and Date of Securities; Payments of Interest 11 Section 2.05 Registrar and Paying Agent; Principal OfficeAgents Generally 11 Section 2.06 Paying Agent to Hold Money in Trust 12 Section 2.07 Transfer and Exchange 12 Section 2.08 Replacement Securities 15 Section 2.09 Outstanding Securities 16 Section 2.10 Temporary Securities 17 Section 2.11 Cancellation 17 Section 2.12 CUSIP Numbers 17 Section 2.13 Defaulted Interest 18 Section 2.14 Series May Include Tranches 18 ARTICLE 3 REDEMPTION 18 Section 3.01 Applicability of Article 18 Section 3.02 Notice of Redemption; Other Offices 4 Partial Redemptions 18 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 3.03 Payment of Taxes 9 Securities Called for Redemption 21 ARTICLE 4 COVENANTS 22 Section 4.3 Absence 4.01 Payment of Securities 22 Section 4.02 Maintenance of Office or Agency 22 Section 4.03 Corporate Existence 23 Section 4.04 Certificate to Trustee 23 Section 4.05 Reports by the Company 23 ARTICLE 5 SUCCESSOR CORPORATION 24 Section 5.01 Merger, Consolidation or Sale of Assets 24 Section 5.02 Successor Substituted 24 ARTICLE 6 DEFAULT AND REMEDIES 25 Section 6.01 Events of Default 25 Section 6.02 Acceleration 25 Section 6.03 Other Remedies 26 Section 6.04 Waiver of Past Defaults 26 Section 6.05 Control by Majority 26 Section 6.06 Limitation on Suits 27 Section 6.07 Rights of Holders to Receive Payment 27 Section 6.08 Collection Suit by Trustee 27 Section 6.09 Trustee May File Proofs of Claim 28 Section 6.10 Application of Proceeds 28 Section 6.11 Restoration of Rights and Remedies 29 Section 6.12 Undertaking for Costs 29 Section 6.13 Rights and Remedies Cumulative 29 Section 6.14 Delay or Omission not Waiver 29 ARTICLE 7 TRUSTEE 30 Section 7.01 General 30 Section 7.02 Certain Rights of Trustee 30 Section 7.03 Individual Rights of Trustee 33 Section 7.04 Trustee’s Disclaimer 33 Section 7.05 Notice of Default 33 Section 7.06 Reports by Trustee to Holders 34 Section 7.07 Compensation and Indemnity 34 Section 7.08 Replacement of Trustee 35 Section 7.09 Acceptance of Appointment by Successor 36 Section 7.10 Successor Trustee by M▇▇▇▇▇, Etc. 37 Section 7.11 Eligibility 37 Section 7.12 Money Held in Trust 37 ARTICLE 8 SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS 37 Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance 37 Section 8.02 Satisfaction and Discharge of Indenture 37 Section 8.03 Application by Trustee of Funds Deposited for Payment of Securities 38 Section 8.04 Repayment of Moneys Held by Paying Agent 38 Section 8.05 Return of Moneys Held by Trustee and Paying Agent Unclaimed for Two Years 38 Section 8.06 Defeasance and Discharge of Indenture 38 Section 8.07 Defeasance of Certain Obligations 39 Section 8.08 Conditions to Legal or Covenant Defeasance 39 ARTICLE 9 AMENDMENTS, SUPPLEMENTS AND WAIVERS 40 Section 9.01 Without Consent of Holders 40 Section 9.02 With Consent of Holders 41 Section 9.03 Revocation and Effect of Consent 42 Section 9.04 Notation on or Exchange of Securities 43 Section 9.05 Trustee to Sign Amendments, Etc. 43 Section 9.06 Conformity with Trust Indenture Act 43 ARTICLE 10 MISCELLANEOUS 43 Section 10.01 Trust Indenture Act of 1939 43 Section 10.02 Notices 43 Section 10.03 Certificate and Opinion as to Conditions Precedent 45 Section 10.04 Statements Required in Certificate or Opinion 45 Section 10.05 Evidence of Ownership 45 Section 10.06 Rules by Trustee, Paying Agent or Registrar 46 Section 10.07 Payment Date Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Than a Business Day 46 Section 5.1 Power and Authority 10.08 Governing Law; Waiver of the Manager 9 Jury Trial 46 Section 5.2 Term and Withdrawal 10.09 No Adverse Interpretation of the Manager 11 Other Agreements 46 Section 5.3 Determinations by the Manager 11 10.10 Successors 46 Section 5.4 Exculpation10.11 Duplicate Originals 46 Section 10.12 Separability 47 Section 10.13 Table of Contents, IndemnificationHeadings, Advances and Insurance 12 Etc. 47 Section 5.5 Duties of the Manager and its 10.14 Incorporators, Stockholders, Officers and Managers 14 Directors of Company Exempt From Individual Liability 47 Section 5.6 Outside Activities 14 10.15 Judgment Currency 47 Section 5.7 Reliance by Third Parties 14 10.16 Force Majeure 48 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 10.17 U.S.A. Patriot Act 48 TIA Section 6.1 Records and Accounting 15 Indenture Section 6.2 Fiscal Year 15 Section 6.3 Reports 15310 (a) 7.11 (b) 7.08; 7.11 (c) N.A. 311 (a) 7.03 (b) 7.03 (c) N.A. 312 (a) N.A. (b) 10.02 (c) 10.02 313 (a) 7.06 (b) 7.06 (c) 7.06 (d) N.A. 314 (a) 4.05; 4.04 (b) N.A. (c) N.A. (d) N.A. (e) N.A. (f) N.A. 315 (a) N.A. (b) N.A. (c) N.A. (d) N.A. (e) 1 N.A. 316 (a) (last sentence) N.A.

TABLE OF CONTENTS. ARTICLE I DEFINITIONS PRINCIPAL TRANSACTION 1 Section 1.1 Definitions 1.1. Sale and Purchase of Stock 1 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 4 1.2. Purchase Price; Payment 1 Section 2.1 Formation 4 1.3. Adjustments to Purchase Price 2 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 1.4. Closing. 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 1.5. Deliveries at the Closing 5 ARTICLE III MEMBERS 2 REPRESENTATIONS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units WARRANTIES OF SELLERS 7 Section 3.3 Certificates 2.1. Organization; Capitalization; Ownership 7 Section 3.4 Record Holders 7 Section 3.5 Registration 2.2. Financial Statements and Transfer of Units Financial Matters 8 Section 3.6 Agreements 8 2.3. Books and Records 10 Section 2.4. Taxes 10 Section 2.5. Business Operations 11 Section 2.6. Employees 13 Section 2.7. Employee Benefit Plans 14 Section 2.8. Real Property 16 Section 2.9. Other Properties and Assets 17 Section 2.10. Litigation 18 Section 2.11. Authorization and Enforceability; No Conflict 18 Section 2.12. Applicable Contracts; Insurance 19 Section 2.13. Permits and Licenses; Compliance with Legal Requirements 20 Section 2.14. Environmental Matters 21 Section 2.15. No Broker’s Fees 22 Section 2.16. Accuracy of Information 22 Section 2.17. Mexican Subsidiary Representations 22 ARTICLE IV DISTRIBUTIONS 3 REPRESENTATIONS AND REDEMPTIONS 8 WARRANTIES OF BUYER AND NOBLE 24 Section 4.1 Distributions to Record Holders 8 3.1. Organization and Good Standing 24 Section 4.2 Payment 3.2. Authorization and Enforceability; No Conflict 24 Section 3.3. Investment Intent 24 Section 3.4. No Broker’s Fees 24 Section 3.5. Purpose of Taxes 9 Transaction 25 ARTICLE 4 COVENANTS AND AGREEMENTS 25 Section 4.3 Absence 4.1. Further Assurances 25 Section 4.2. Restrictive Covenants 25 Section 4.3. Public Announcements 26 Section 4.4. Sellers Representative 26 Section 4.5. Discharge of Related Party Fees 29 Section 4.6. Title Insurance 29 Section 4.7. Parent Guarantee 29 Section 4.8. Right of First Refusal 29 Section 4.9. Transition of Bloomingdale Warehouse 29 Section 4.10. Termination of Certain Other Rights 9 Agreements. 30 Section 4.11. Stock Purchase 30 Section 4.12. Tax Returns and Related Matters. 30 Section 4.13. Closing Books for Tax Purposes 32 Section 4.14. Interest Charge DISC Subsidiary. 33 Section 4.15. Mexican and Swiss Taxes. 33 Section 4.16. IP Tax Matters. 33 Section 4.17. Post-Retirement Benefits. 34 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 5 INDEMNIFICATION 34 Section 5.1 Power 5.1. Indemnification and Authority Reimbursement by Sellers 34 Section 5.2. Indemnification and Reimbursement by Buyer 34 Section 5.3. De Minimis Claims; Basket; Cap; Bloomingdale Environmental Limits. 34 Section 5.4. Indemnification Procedures 35 Section 5.5. Offset 37 Section 5.6. Adjusted Purchase Price; Interest 37 Section 5.7. Determination of the Manager 9 Adverse Consequences; Indemnification Limitations 37 Section 5.2 Term 5.8. Exclusive Remedy 38 Section 5.9. Tax Claims 38 ARTICLE 6 DEFINITIONS 40 ARTICLE 7 GENERAL 51 Section 7.1. Survival of Representations, Warranties, Covenants and Withdrawal Agreements 51 Section 7.2. Binding Effect; Benefits; Assignment 51 Section 7.3. Entire Agreement 52 Section 7.4. Amendment and Waiver 52 Section 7.5. Governing Law 52 Section 7.6. Notices 52 Section 7.7. Counterparts 53 Section 7.8. Expenses 53 Section 7.9. Headings; Construction; Time of the Manager 11 Essence 53 Section 5.3 Determinations by the Manager 11 7.10. Partial Invalidity 54 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties 7.11. Waiver of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Jury Trial 54 Exhibit 1.2(b) Overdue Accounts Receivable

TABLE OF CONTENTS. ARTICLE I I. - DEFINITIONS 1 Section 1.1 1.1. Definitions 1 Section 1.2 Construction 4 1.2. General; References to Times 26 ARTICLE II ORGANIZATION 4 II. - CREDIT FACILITY 27 Section 2.1 Formation 4 2.1. Loans 27 Section 2.2 Name 4 2.2. Letters of Credit 28 Section 2.3 Registered Office2.3. Rates and Payment of Interest on Loans 32 Section 2.4. Number of Interest Periods 33 Section 2.5. Repayment of Loans 33 Section 2.6. Prepayments 33 Section 2.7. Continuation 33 Section 2.8. Conversion 34 Section 2.9. Notes 34 Section 2.10. Voluntary Reductions of the Commitment 35 Section 2.11. Expiration or Maturity Date of Letters of Credit Past Termination Date 35 Section 2.12. Amount Limitations 35 Section 2.13. Joint and Several Liability 35 Section 2.14. The Increased Loan Amount 37 Section 2.15. Borrower Representative 39 Section 2.16. Extension of Termination Date 39 ARTICLE III. - PAYMENTS, FEES AND OTHER GENERAL PROVISIONS 40 Section 3.1. Payments 40 Section 3.2. Pro Rata Treatment 40 Section 3.3. Sharing of Payments, Etc. 41 Section 3.4. Several Obligations 41 Section 3.5. Minimum Amounts 41 Section 3.6. Fees 42 Section 3.7. Computations 43 Section 3.8. Usury 43 Section 3.9. Agreement Regarding Interest and Charges 43 Section 3.10. Statements of Account 43 Section 3.11. Defaulting Lenders 44 Section 3.12. Taxes 45 ARTICLE IV. - YIELD PROTECTION, ETC. 47 Section 4.1. Additional Costs; Registered Agent; Principal Office; Other Offices 4 Capital Adequacy 47 Section 2.4 Purposes 4 4.2. Suspension of LIBOR Loans 48 Section 2.5 Qualification in Other Jurisdictions 4 4.3. Illegality 49 Section 2.6 Powers 4 4.4. Compensation 49 Section 2.7 Power 4.5. Affected Lenders 49 Section 4.6. Treatment of Attorney 5 Affected Loans 50 Section 2.8 Term 6 4.7. Change of Lending Office 50 Section 2.9 Certificate 4.8. Assumptions Concerning Funding of Formation 6 LIBOR Loans 51 ARTICLE III MEMBERS V. - CONDITIONS PRECEDENT 51 Section 5.1. Initial Conditions Precedent 51 Section 5.2. Conditions Precedent to All Loans and Letters of Credit 53 ARTICLE VI. - REPRESENTATIONS AND UNITS 6 WARRANTIES 53 Section 3.1 Members 6 6.1. Representations and Warranties 53 Section 3.2 Authorization to Issue Units 7 6.2. Survival of Representations and Warranties, Etc. 59 ARTICLE VII. - AFFIRMATIVE COVENANTS 60 Section 3.3 Certificates 7 7.1. Preservation of Existence and Similar Matters 60 Section 3.4 Record Holders 7 7.2. Compliance with Applicable Law and Material Contracts 60 Section 3.5 Registration and Transfer 7.3. Maintenance of Units 8 Property 60 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 7.4. Conduct of Business 61 Section 4.1 Distributions to Record Holders 8 7.5. Insurance 61 Section 4.2 7.6. Payment of Taxes 9 and Claims 61 Section 4.3 Absence 7.7. Visits and Inspections 61 Section 7.8. Use of Proceeds; Letters of Credit 62 Section 7.9. Environmental Matters 62 Section 7.10. Books and Records 62 Section 7.11. Further Assurances 63 Section 7.12. Replacement or Addition of Unencumbered Properties 63 Section 7.13. Removal of Unencumbered Property 64 Section 7.14. REIT Status 65 Section 7.15. Exchange Listing 65 Section 7.16. Distributions of Income to EPR 65 Section 7.17. Failure of Certain Unencumbered Assets Representations and Warranties 65 Section 7.18. Property 65 ARTICLE VIII. - INFORMATION 67 Section 8.1. Financial Statements, Certificates and Information 67 Section 8.2. Other Information 69 ARTICLE IX. - NEGATIVE COVENANTS 70 Section 9.1. Financial Covenants 71 Section 9.2. Distributions 72 Section 9.3. Indebtedness 72 Section 9.4. Permitted Investments 74 Section 9.5. ERISA Exemptions 75 Section 9.6. Liens 76 Section 9.7. Merger, Consolidation, Sales of Assets and Other Arrangements 76 Section 9.8. Fiscal Year 76 Section 9.9. Modifications to Material Contracts 76 Section 9.10. Modifications of Organizational Documents 76 Section 9.11. Transactions with Affiliates 77 ARTICLE X. - DEFAULT 77 Section 10.1. Events of Default 77 Section 10.2. Limitation of Cure Periods 80 Section 10.3. Remedies Upon Default 81 Section 10.4. Allocation of Proceeds 82 Section 10.5. Collateral Account 83 Section 10.6. Performance by Agent 83 Section 10.7. Rights 9 Cumulative 84 ARTICLE V MANAGEMENT XI. - THE AGENT 84 Section 11.1. Authorization and Action 84 Section 11.2. Agent’s Reliance, Etc. 85 Section 11.3. Notice of Defaults 85 Section 11.4. KeyBank as Lender 86 Section 11.5. Approvals of Lenders 86 Section 11.6. Lender Credit Decision, Etc. 86 Section 11.7. Indemnification of Agent 87 Section 11.8. Successor Agent 88 Section 11.9. Titled Agents 88 ARTICLE XII. - MISCELLANEOUS 89 Section 12.1. Notices 89 Section 12.2. Expenses 90 Section 12.3. Setoff 91 Section 12.4. Litigation; Jurisdiction; Other Matters; Waivers 91 Section 12.5. Successors and Assigns 92 Section 12.6. Amendments 94 Section 12.7. Nonliability of Agent and Lenders 96 Section 12.8. Confidentiality 96 Section 12.9. Indemnification 97 Section 12.10. Termination; Survival 99 Section 12.11. Severability of Provisions 99 Section 12.12. GOVERNING LAW 100 Section 12.13. Patriot Act 100 Section 12.14. Counterparts 100 Section 12.15. Obligations with Respect to Borrowers 100 Section 12.16. Limitation of Liability 100 Section 12.17. Entire Agreement 100 Section 12.18. Construction 101 SCHEDULE 1.1(A) Initial Subsidiary Borrowers SCHEDULE 1.1(B) Initial Eligible Real Estate SCHEDULE 2 Eligible Real Estate Qualification Documents SCHEDULE 6.1.(b) Ownership Structure SCHEDULE 6.1.(f) Title to Properties; Liens SCHEDULE 6.1.(g) Indebtedness and Guaranties SCHEDULE 6.1.(h) Material Contracts SCHEDULE 6.1.(i) Litigation EXHIBIT A Form of Assignment and Assumption Agreement EXHIBIT B Form of Notice of Borrowing EXHIBIT C Form of Notice of Continuation EXHIBIT D Form of Notice of Conversion EXHIBIT E Form of Note EXHIBIT F Form of Compliance Certificate EXHIBIT G Form of Availability Certificate EXHIBIT H Form of Joinder Agreement THIS AMENDED AND OPERATION OF BUSINESS 9 Section 5.1 Power RESTATED CREDIT AGREEMENT (this “Agreement”) dated as of October 13, 2011 by and Authority among ENTERTAINMENT PROPERTIES TRUST, a Maryland real estate investment trust (“EPR”), the Subsidiary Borrowers (as defined herein), the Lenders (as defined herein) and KEYBANK, NATIONAL ASSOCIATION, as administrative agent (“Keybank” and/or the “Agent”), ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ BANK, N.A. and RBC CAPITAL MARKETS CORPORATION, as co-syndication agents (the “Syndication Agents”), and each of KEYBANC CAPITAL MARKETS, LLC, ▇.▇. ▇▇▇▇▇▇ SECURITIES, INC. and RBC CAPITAL MARKETS CORPORATION, as joint lead arrangers and joint book runners (each as “Arrangers”), and each of the Manager 9 financial institutions initially a signatory hereto together with their assignees pursuant to Section 5.2 Term 12.5.(d). EPR and Withdrawal of the Manager 11 Section 5.3 Determinations by Subsidiary Borrowers are each referred to herein as a “Borrower” and are collectively referred to herein as the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15“Borrowers.”

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 ARTICLE II THE TRUSTEES AND THE ADVISORY BOARD 2 Section 1.1 Definitions 1 1. Management of the Trust. 2 Section 1.2 Construction 2. Election and Number of Trustees. 2 Section 3. Term of Office of Trustees. 2 Section 4. Vacancies; Appointment of Trustees. 2 Section 5. Chairman. 3 Section 6. Action by the Trustees. 3 Section 7. Ownership of Trust Property. 3 Section 8. Effect of Trustees Not Serving. 4 Section 9. Trustees, etc. as Shareholders. 4 ARTICLE II ORGANIZATION III POWERS OF THE TRUSTEES 4 Section 2.1 Formation 1. Powers. 4 Section 2.2 Name 4 Section 2.3 Registered Office2. Advisory Board. 7 ARTICLE IV SERIES; Registered AgentCLASSES; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units SHARES 7 Section 3.3 Certificates 1. Establishment of Series or Classes. 7 Section 3.4 Record Holders 2. Shares of Beneficial Interest. 7 Section 3.5 Registration 3. Investment in the Trust. 8 Section 4. Assets and Liabilities of Series. 8 Section 5. Ownership and Transfer of Units 8 Shares. 9 Section 3.6 Agreements 8 6. Status of Shares; Limitation of Shareholder Liability. 9 ARTICLE IV V DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 1. Distributions 9 Section 5.1 Power and Authority 2. Redemptions. 10 Section 3. Determination of the Manager 9 Net Asset Value. 10 Section 5.2 Term and Withdrawal 4. Suspension of the Manager Right of Redemption. 10 Section 5. Redemptions Necessary for Qualification as Regulated Investment Company. 10 ARTICLE VI SHAREHOLDERS' VOTING POWERS AND MEETINGS 11 Section 5.3 Determinations by the Manager 1. Voting Powers. 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 2. Meetings of Shareholders. 11 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 153. Quorum; Required Vote. 11

TABLE OF CONTENTS. ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE 1 Section 1.1 1.01. Definitions 1 Section 1.2 1.01. Other Definitions 24 Section 1.02. Incorporation by Reference of Trust Indenture Act 25 Section 1.03. Rules of Construction 4 26 ARTICLE II ORGANIZATION 4 THE NOTES 27 Section 2.1 Formation 4 2.01. Form and Dating 27 Section 2.2 Name 4 2.02. Execution and Authentication; Additional Notes; Aggregate Principal Amount 28 Section 2.3 Registered Office2.04. Obligations of Paying Agent 29 Section 2.05. Holder Lists 29 Section 2.06. Transfer and Exchange 29 Section 2.07. Replacement Notes 30 Section 2.08. Outstanding Notes 30 Section 2.09. Treasury Notes; Registered Agent; Principal Office; Other Offices 4 When Notes Are Disregarded 31 Section 2.4 Purposes 4 2.10. Temporary Notes 31 Section 2.5 Qualification in Other Jurisdictions 4 2.11. Cancellation 31 Section 2.6 Powers 4 2.12. CUSIP Numbers 31 Section 2.7 Power 2.13. Deposit of Attorney 5 Moneys 32 Section 2.8 Term 6 2.14. Book-Entry Provisions for Global Notes 32 Section 2.9 Certificate 2.15. Special Transfer and Exchange Provisions 33 Section 2.16. Transfers and Exchanges of Formation 6 Global Notes and Physical Notes 35 ARTICLE III MEMBERS AND UNITS 6 REDEMPTION 35 Section 3.1 Members 6 3.01. Redemption 35 Section 3.2 Authorization 3.02. Selection of Notes to Issue Units 7 be Redeemed 36 Section 3.3 Certificates 7 3.03. Notice of Redemption 37 Section 3.4 Record Holders 7 3.04. Effect of Notice of Redemption 38 Section 3.5 Registration and Transfer 3.05. Deposit of Units 8 Redemption Price 38 Section 3.6 Agreements 8 3.06. Notes Redeemed in Part 38 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 COVENANTS 38 Section 4.1 Distributions to Record Holders 8 4.01. Payment of Notes 38 Section 4.2 4.02. Maintenance of Office or Agency 39 Section 4.03. Corporate Existence 39 Section 4.04. Payment of Taxes 9 and Other Claims 39 Section 4.3 Absence 4.05. Maintenance of Properties and Insurance 40 Section 4.06. Compliance Certificate, Notice of Default 40 Section 4.07. Waiver of Stay, Extension or Usury Laws 40 Section 4.08. Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock 41 Section 4.09. Limitation on Restricted Payments 44 Section 4.10. Repurchase upon Change of Control 47 Section 4.11. Limitation on Asset Sales 49 Section 4.12. Semi-Annual Offer 52 Section 4.13. Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries 53 Section 4.14. Designation of Restricted and Unrestricted Subsidiaries 55 Section 4.15. Limitation on Liens 55 Section 4.16. Limitations on Transactions with Affiliates 55 Section 4.17. Additional Note Guarantees 57 Section 4.18. Real Estate Mortgages and Filings 57 Section 4.19. Business Activities 59 Section 4.20. Actions with Respect to TPT 59 Section 4.21. Reports to Holders 59 Section 4.22. Payments for Consent 60 Section 4.23. Further Assurances 60 ARTICLE V SUCCESSOR CORPORATION 61 Section 5.01. Merger, Consolidation and Sale of Assets 61 Section 5.02. Successor Entity Substituted 62 ARTICLE VI DEFAULT AND REMEDIES 62 Section 6.01. Events of Default 62 Section 6.02. Acceleration 64 Section 6.03. Other Remedies 65 Section 6.04. Waiver of Past Defaults 65 Section 6.05. Control by Majority 65 Section 6.06. Limitation on Suits 66 Section 6.07. Rights of Holders to Receive Payment 66 Section 6.08. Collection Suit by Trustee or Collateral Agent 66 Section 6.09. Trustee May File Proofs of Claim 67 Section 6.10. Priorities 67 Section 6.11. Undertaking for Costs 68 Section 6.12. Restoration of Rights and Remedies 68 ARTICLE VII TRUSTEE 68 Section 7.01. Duties of Trustee 68 Section 7.02. Rights of Trustee 69 Section 7.03. Individual Rights of Trustee 71 Section 7.04. Trustee’s Disclaimer 71 Section 7.05. Notice of Default 71 Section 7.06. Reports by Trustee to Holders 72 Section 7.07. Compensation and Indemnity 72 Section 7.08. Replacement of Trustee 73 Section 7.09. Successor Trustee by Merger, Etc. 74 Section 7.10. Eligibility; Disqualification 74 Section 7.11. Preferential Collection of Claims Against Company 74 Section 7.12. Trustee as Paying Agent and Collateral Agent 75 Section 7.13. Form of Documents Delivered to Trustee 75 ARTICLE VIII SATISFACTION AND DISCHARGE OF INDENTURE 75 Section 8.01. Legal Defeasance and Covenant Defeasance 75 Section 8.02. Satisfaction and Discharge 77 Section 8.03. Survival of Certain Obligations 78 Section 8.04. Acknowledgment of Discharge by Trustee and Collateral Agent 78 Section 8.05. Application of Trust Moneys 78 Section 8.06. Repayment to the Company; Unclaimed Money 79 Section 8.07. Reinstatement 79 ARTICLE IX AMENDMENTS, SUPPLEMENTS AND WAIVERS 80 Section 9.01. Without Consent of Holders 80 Section 9.02. With Consent of Holders 81 Section 9.03. Compliance with Trust Indenture Act 82 Section 9.04. Revocation and Effect of Consents 82 Section 9.05. Notation on or Exchange of Notes 83 Section 9.06. Trustee to Sign Amendments, Etc. 83 Section 9.07. Conformity with Trust Indenture Act 83 ARTICLE X GUARANTEE 83 Section 10.01. Note Guarantee 83 Section 10.02. Release of a Guarantor 84 Section 10.03. Limitation of Guarantor’s Liability 85 Section 10.04. Contribution 85 Section 10.05. Waiver of Subrogation 85 Section 10.06. Waiver of Stay, Extension or Usury Laws 86 Section 10.07. Execution and Delivery of Note Guarantees 86 ARTICLE XI MISCELLANEOUS 86 Section 11.01. Trust Indenture Act Controls 86 Section 11.02. Notices 86 Section 11.03. Communications by Holders with Other Rights 9 Holders 87 Section 11.04. Certificate and Opinion as to Conditions Precedent 87 Section 11.05. Statements Required in Certificate or Opinion 88 Section 11.06. Rules by Trustee, Paying Agent, ▇▇▇▇▇▇▇▇▇ ▇▇ Section 11.07. Legal Holidays 88 Section 11.08. Governing Law 88 Section 11.09. No Adverse Interpretation of Other Agreements 89 Section 11.10. No Recourse Against Others 89 Section 11.11. Successors 89 Section 11.12. Duplicate Originals 89 Section 11.13. Severability 89 Section 11.14. Waiver of Jury Trial 89 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 XII SECURITY 90 Section 5.1 Power 12.01. Grant of Security Interest 90 Section 12.02. Opinions 90 Section 12.03. Release of Collateral 91 Section 12.04. Specified Releases of Collateral 92 Section 12.05. Release upon Satisfaction or Defeasance of All Outstanding Obligations 92 Section 12.06. Form and Authority Sufficiency of the Manager 9 Release 92 Section 5.2 Term and Withdrawal 12.07. Purchaser Protected 93 Section 12.08. Authorization of the Manager 11 Section 5.3 Determinations Actions to Be Taken by the Manager 11 Collateral Agent Under the Collateral Documents 93 Section 5.4 Exculpation12.09. Authorization of Receipt of Funds by the Trustee Under the Collateral Documents 93 Section 12.10. Intercreditor Agreement 93 Exhibit A Form of Note Exhibit B Form of Legends Exhibit C Form of Certificate of Transfer Exhibit D Form of Certificate of Exchange Exhibit E Form of Certificate from Acquiring Accredited Investor Exhibit F Form of Supplemental Indenture Exhibit G Form of Intercreditor Agreement INDENTURE, Indemnificationdated as of November 15, Advances 2011, among Green Field Energy Services, Inc., a Delaware corporation (the “Company”), Hub City Tools, Inc., a Louisiana corporation, as guarantor, and Insurance 12 Section 5.5 Duties of Wilmington Trust, National Association, as trustee (in such capacity, the Manager “Trustee”) and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKSas collateral agent (in such capacity, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15the “Collateral Agent”).

TABLE OF CONTENTS. ARTICLE I 1 DEFINITIONS 1 Section 1.1 1.01 Definitions of Terms 1 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 2 ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES 4 Section 2.1 Formation 2.01 Designation and Terms of Securities 4 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power 2.02 Form of Attorney Securities and Trustee’s Certificate 5 Section 2.8 Term 2.03 Denominations: Provisions for Payment 6 Section 2.9 Certificate of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 2.04 Execution and Authentications 7 Section 3.3 Certificates 2.05 Registration of Transfer and Exchange 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 2.06 Temporary Securities 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 2.07 Mutilated, Destroyed, Lost or Stolen Securities 8 Section 4.1 Distributions to Record Holders 8 2.08 Cancellation 9 Section 4.2 2.09 Benefits of Indenture 9 Section 2.10 Authenticating Agent 9 Section 2.11 Global Securities 9 ARTICLE 3 REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS 10 Section 3.01 Redemption 10 Section 3.02 Notice of Redemption 10 Section 3.03 Payment Upon Redemption 11 Section 3.04 Sinking Fund 11 Section 3.05 Satisfaction of Sinking Fund Payments with Securities 12 Section 3.06 Redemption of Securities for Sinking Fund 12 ARTICLE 4 COVENANTS 12 Section 4.01 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power Principal, Premium and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance Interest 12 Section 5.5 Duties 4.02 Maintenance of the Manager and its Officers and Managers 14 Office or Agency 12 Section 5.6 Outside Activities 14 4.03 Paying Agents 13 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement 4.04 Appointment to Fill Vacancy in Office of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Trustee 13

TABLE OF CONTENTS. ARTICLE I DEFINITIONS ONE APPLICATION OF SUPPLEMENTAL INDENTURE AND CREATION OF THE INITIAL NOTES 1 Section 1.1 Definitions 1.01. Application of this Supplemental Indenture 1 Section 1.2 1.02. Effect of this Supplemental Indenture 2 ARTICLE TWO DEFINITIONS AND INCORPORATION BY REFERENCE 3 Section 2.01. Definitions 3 Section 2.02. Other Definitions 40 Section 2.03. Incorporation by Reference of Trust Indenture Act 40 Section 2.04. Rules of Construction 4 40 ARTICLE II ORGANIZATION 4 THREE THE NOTES 41 Section 2.1 Formation 4 3.01. Form And Dating 41 Section 2.2 Name 4 3.02. Execution and Authentication 42 Section 2.3 Registered Office; Registered Agent; Principal Office; Other Offices 4 3.03. Methods of Receiving Payments on the Notes 42 Section 2.4 Purposes 4 3.04. Registrar and Paying Agent 43 Section 2.5 Qualification 3.05. Paying Agent to Hold Money in Other Jurisdictions 4 Trust 43 Section 2.6 Powers 4 3.06. Holder Lists 43 Section 2.7 Power 3.07. Transfer and Exchange 44 Section 3.08. Replacement Notes 48 Section 3.09. Outstanding Notes 48 Section 3.10. Treasury Notes 48 Section 3.11. Temporary Notes 49 Section 3.12. Cancellation 49 Section 3.13. Defaulted Interest 49 Section 3.14. CUSIP Numbers 50 Section 3.15. Issuance of Attorney 5 Additional Notes 50 ARTICLE FOUR REDEMPTION 50 Section 2.8 Term 6 4.01. Notice to Trustee 50 Section 2.9 Certificate 4.02. Selection of Formation 6 Notes to Be Redeemed 50 Section 4.03. Notice of Redemption 51 Section 4.04. Effect of Notice of Redemption 52 Section 4.05. Deposit of Redemption Price 52 Section 4.06. Notes Redeemed in Part 53 Section 4.07. Optional Redemption 53 Section 4.08. Mandatory Redemption 54 Section 4.09. Application of Trust Money 54 ARTICLE III MEMBERS AND UNITS 6 FIVE COVENANTS 54 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 5.01. Payment of Notes 54 Section 5.02. Maintenance of Office or Agency 54 Section 5.03. Reports 55 Section 5.04. Compliance Certificate 55 Section 5.05. Taxes 9 56 Section 4.3 Absence 5.06. Stay, Extension and Usury Laws 56 Section 5.07. Limitation on Indebtedness and Preferred Stock 56 Section 5.08. Limitation on Restricted Payments 59 Section 5.09. Limitation on Liens 65 Section 5.10. Limitation on Restrictions on Distributions from Restricted Subsidiaries 66 Section 5.11. Limitation on Sales of Assets and Subsidiary Stock 69 Section 5.12. Limitation on Affiliate Transactions 72 Section 5.13. Future Subsidiary Guarantors 74 Section 5.14. Business Activities 74 Section 5.15. Offer to Repurchase Upon a Change of Control 74 Section 5.16. Termination of Covenants 77 ARTICLE SIX SUCCESSORS 77 Section 6.01. Merger and Consolidation 77 ARTICLE SEVEN DEFAULTS AND REMEDIES 79 Section 7.01. Events of Default 79 Section 7.02. Acceleration 82 Section 7.03. Other Remedies 82 Section 7.04. Waiver of Past Defaults 83 Section 7.05. Control by Majority 83 Section 7.06. Limitation on Suits 83 Section 7.07. Rights of Holders of Notes to Receive Payment 84 Section 7.08. Collection Suit by Trustee 84 Section 7.09. Trustee May File Proofs of Claim 84 Section 7.10. Priorities 85 Section 7.11. Undertaking for Costs 85 ARTICLE EIGHT TRUSTEE 85 Section 8.01. Duties of Trustee 85 Section 8.02. Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 of Trustee 86 Section 5.1 Power and Authority 8.03. Individual Rights of Trustee 87 Section 8.04. Trustee’s Disclaimer 87 Section 8.05. Notice of Default 88 Section 8.06. Reports by Trustee to Holders of the Manager 9 Notes 88 Section 5.2 Term 8.07. Compensation and Withdrawal Indemnity 88 Section 8.08. Replacement of the Manager 11 Trustee 89 Section 5.3 Determinations 8.09. Successor Trustee by the Manager 11 Merger, Etc 90 Section 5.4 Exculpation, Indemnification, Advances 8.10. Eligibility; Disqualification 90 Section 8.11. Preferential Collection of Claims Against Company 90 ARTICLE NINE DEFEASANCE AND COVENANT DEFEASANCE 91 Section 9.01. Option to Effect Legal Defeasance or Covenant Defeasance 91 Section 9.02. Legal Defeasance and Insurance 12 Discharge 91 Section 5.5 Duties of the Manager and its Officers and Managers 14 9.03. Covenant Defeasance 92 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 159.04. Conditions to Legal Defeasance or Covenant Defeasance 92

TABLE OF CONTENTS. ARTICLE I DEFINITIONS PAGE Parties 1 Preliminary Statement 1 Granting Clause 1 Article One Definitions 2 Section 1.1 1.01. Definitions 1 2 Article Two Note Form 14 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 4 2.01. Forms 14 Article Three The Notes 14 Section 2.1 Formation 4 3.01. Denomination 14 Section 2.2 Name 4 3.02. Execution, Authentication, Delivery and Dating 15 Section 2.3 Registered Office; Registered Agent3.03. Temporary Notes 15 Section 3.04. Registration, Registration of Transfer and Exchange 15 Section 3.05. Limitation on Transfer and Exchange 17 Section 3.06. Mutilated, Destroyed, Lost or Stolen Notes 17 Section 3.07. Payment of Principal and Interest; Principal Officeand Interest Rights Preserved 18 Section 3.08. Persons Deemed Owner 19 Section 3.09. Cancellation 19 Article Four Original Issuance of Notes; Other Offices 4 Substitutions of Collateral 20 Section 2.4 Purposes 4 4.01. Conditions to Original Issuance of Notes 20 Section 2.5 Qualification in Other Jurisdictions 4 4.02. Security for Notes 21 Section 2.6 Powers 4 4.03 Substitution and Purchase of Lease Receivables 21 Section 2.7 Power 4.04. Releases 23 Section 4.05. Trust Estate 23 Section 4.06. Notice of Attorney 5 Release 24 Section 2.8 Term 6 4.07. Opinions as to Trust Estate 24 Article Five Satisfaction and Discharge 24 Section 2.9 Certificate 5.01. Satisfaction and Discharge of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Indenture 24 Section 3.1 Members 6 5.02. Application of Trust Money 24 Article Six Defaults and Remedies 25 Section 3.2 Authorization to Issue Units 7 6.01. Events of Default 25 Section 3.3 Certificates 7 6.02. Acceleration of Maturity; Rescission and Annulment 26 Section 3.4 Record Holders 7 6.03. Collection of Indebtedness and Suits for Enforcement by Trustee 27 Section 3.5 Registration and Transfer 6.04. Remedies 27 Section 6.05. Optional Preservation of Units 8 Section 3.6 Agreements 8 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Trust Estate 28

TABLE OF CONTENTS. DEFINED TERMS 1 SECTION 1.01 Definitions. 1 ARTICLE I DEFINITIONS 1 Section 1.1 Definitions 1 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 4 Section 2.1 Formation 4 Section 2.2 Name 4 Section 2.3 Registered Office; Registered Agent2 CONTINUATION OF THE TRUST 12 SECTION 2.01 Name. 12 SECTION 2.02 Office of the Delaware Trustee; Principal OfficePlace of Business. 12 SECTION 2.03 Initial Contribution of Trust Property; Other Offices 4 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power Expenses of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate the Trust. 12 SECTION 2.04 Issuance of Formation 6 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 the Trust Securities. 13 SECTION 2.05 Purchase and Exchange of Debentures. 13 SECTION 2.06 Declaration of Trust. 14 SECTION 2.07 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Enter into Certain Transactions. 14 SECTION 2.08 Assets of Trust. 19 SECTION 2.09 Title to Trust Property. 19 ARTICLE 3 PAYMENT ACCOUNT 19 SECTION 3.01 Payment Account. 19 ARTICLE 4 DISTRIBUTIONS; REDEMPTION 19 SECTION 4.01 Distributions. 19 SECTION 4.02 Redemption. 21 SECTION 4.03 Subordination of Trust Common Securities. 23 SECTION 4.04 Payment Procedures. 23 SECTION 4.05 Tax Returns and Reports. 24 SECTION 4.06 Payments under Indentures. 24 SECTION 4.07 Payments of Taxes, Duties, Etc. of the Trust. 24 ARTICLE 5 TRUST SECURITIES CERTIFICATES 25 SECTION 5.01 Initial Ownership. 25 SECTION 5.02 The Trust Securities Certificates. 25 SECTION 5.03 Execution and Delivery of Trust Securities Certificates. 25 SECTION 5.04 Registration of Transfer and Exchange of Trust Preferred Securities Certificates. 25 SECTION 5.05 Mutilated, Destroyed, Lost or Stolen Trust Securities Certificates. 26 SECTION 5.06 Persons Deemed Securityholders. 27 SECTION 5.07 Access to List of Securityholders’ Names and Addresses. 27 SECTION 5.08 Maintenance of Office or Agency. 27 SECTION 5.09 Appointment of Paying Agent. 27 SECTION 5.10 No Transfer of Units Trust Common Securities by Depositor. 28 SECTION 5.11 Book-Entry Trust Preferred Securities Certificates; Trust Common Securities Certificate. 28 SECTION 5.12 Definitive Trust Preferred Securities Certificates. 29 SECTION 5.13 Rights of Securityholders. 30 ARTICLE 6 ACTS OF SECURITYHOLDERS; MEETINGS; VOTING 30 SECTION 6.01 Limitations on Voting Rights. 30 SECTION 6.02 Notice of Meetings. 31 SECTION 6.03 Meetings of Trust Preferred Security Holders. 31 SECTION 6.04 Voting Rights. 31 SECTION 6.05 Proxies, etc. 32 SECTION 6.06 Securityholder Action by Written Consent. 32 SECTION 6.07 Record Date for Voting and Other Purposes. 32 SECTION 6.08 Acts of Securityholders. 32 SECTION 6.09 Inspection of Records. 33 ARTICLE 7 THE TRUSTEES 34 SECTION 7.01 Certain Duties and Responsibilities. 34 SECTION 7.02 Notice of Defaults; Direct Action by Securityholders. 35 SECTION 7.03 Certain Rights of Property Trustee. 35 SECTION 7.04 Not Responsible for Recitals or Issuance of Securities. 36 SECTION 7.05 May Hold Securities. 37 SECTION 7.06 Compensation; Indemnity; Fees. 37 SECTION 7.07 Certain Trustees Required; Eligibility of Trustees. 38 SECTION 7.08 Conflicting Interests. 38 SECTION 7.09 Co-Trustees and Separate Trustee. 38 SECTION 7.10 Resignation and Removal; Appointment of Successor. 40 SECTION 7.11 Acceptance of Appointment by Successor. 41 SECTION 7.12 Merger, Conversion, Consolidation or Succession to Business. 42 SECTION 7.13 Preferential Collection of Claims Against Depositor or Trust. 42 SECTION 7.14 Reports by Property Trustee. 42 SECTION 7.15 Reports to the Property Trustee. 42 SECTION 7.16 Evidence of Compliance with Conditions Precedent. 43 SECTION 7.17 Statements Required in Officer’s Certificate and Opinion of Counsel. 43 SECTION 7.18 Number of Administrative Trustees. 43 SECTION 7.19 Delegation of Power. 44 SECTION 7.20 Voting. 44 ARTICLE 8 Section 3.6 Agreements 8 DISSOLUTION AND LIQUIDATION 44 SECTION 8.01 Dissolution Upon Expiration Date. 44 SECTION 8.02 Early Dissolution. 44 SECTION 8.03 Termination of Obligations. 45 SECTION 8.04 Dissolution and Liquidation. 45 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 Section 4.1 Distributions to Record Holders 8 Section 4.2 Payment of Taxes 9 Section 4.3 Absence of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Section 5.1 Power and Authority MERGERS, ETC. 46 SECTION 9.01 Mergers, Consolidations, Conversions, Amalgamations or Replacements of the Manager 9 Section 5.2 Term Trust. 46 ARTICLE 10 MISCELLANEOUS PROVISIONS 47 SECTION 10.01 Limitation of Rights of Securityholders. 47 SECTION 10.02 Amendment. 48 SECTION 10.03 Severability. 49 SECTION 10.04 Governing Law. 49 SECTION 10.05 Successors and Withdrawal Assigns. 49 SECTION 10.06 Headings. 49 SECTION 10.07 Reports, Notices and Demands. 50 SECTION 10.08 Agreement Not to Petition. 50 SECTION 10.09 Trust Indenture Act; Conflict with Trust Indenture Act. 50 SECTION 10.10 Acceptance of Terms of Trust Agreement, Guarantees and Indentures. 51 EXHIBIT B B-1 EXHIBIT C C-1 AMENDED AND RESTATED TRUST AGREEMENT of HECO Capital Trust III (the Manager 11 Section 5.3 Determinations by “Trust”), dated as of March 1, 2004, among (i) Hawaiian Electric Company, Inc., a Hawaii corporation (the Manager 11 Section 5.4 Exculpation“Depositor” or “HECO”), Indemnification(ii) The Bank of New York, Advances a New York banking corporation, as trustee (the “Property Trustee”), (iii) The Bank of New York (Delaware), a Delaware banking corporation, as Delaware trustee (the “Delaware Trustee”), (iv) T. ▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇ ▇. von Gnechten and Insurance 12 Section 5.5 Duties of ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇, individuals whose address is c/o Hawaiian Electric Company, Inc., ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, Honolulu, Hawaii 96813 (the Manager “Administrative Trustees”) (the Property Trustee, the Delaware Trustee and its Officers the Administrative Trustee are referred to collectively as the “Trustees”), and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15(v) the several Holders (as defined herein).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE 1 Section 1.1 1.01. Definitions 1 Section 1.2 1.02. Rules of Construction 4 11 Section 1.03. Incorporation by Reference of the Trust Indenture Act 12 ARTICLE II ORGANIZATION 4 THE NOTES 12 Section 2.1 Formation 4 2.01. Form and Dating 12 Section 2.2 Name 4 2.02. Execution and Authentication 14 Section 2.3 Registered Office; Registered 2.03. Registrar, Paying Agent and Authenticating Agent; Principal Office; Other Offices 4 Paying Agent to Hold Money in Trust 15 Section 2.4 Purposes 4 2.04. Noteholder Lists 15 Section 2.5 Qualification in Other Jurisdictions 4 2.05. Transfer and Exchange 16 Section 2.6 Powers 4 2.06. Definitive Notes 20 Section 2.7 Power 2.07. Replacement Notes 20 Section 2.08. Outstanding Notes 21 Section 2.09. Temporary Notes 22 Section 2.10. Cancellation 22 Section 2.11. CUSIP and ISIN Numbers 22 Section 2.12. Defaulted Interest 22 Section 2.13. Computation of Attorney 5 Interest 23 Section 2.8 Term 6 Section 2.9 Certificate 2.14. Issuance of Formation 6 Additional Notes 23 ARTICLE III MEMBERS AND UNITS 6 OPTIONAL REDEMPTION OF NOTES 24 Section 3.1 Members 6 3.01. Optional Redemption 24 Section 3.2 Authorization to Issue Units 7 3.02. Notice of Redemption 24 Section 3.3 Certificates 7 3.03. Notes Payable on Redemption Date 25 Section 3.4 Record Holders 7 3.04. Exclusion of Certain Notes From Eligibility for Selection for Redemption 25 Section 3.5 Registration and Transfer 3.05. Deposit of Units 8 Section 3.6 Agreements 8 Redemption Price 25 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 COVENANTS 25 Section 4.1 Distributions to Record Holders 8 Section 4.2 4.01. Payment of Taxes 9 Principal, Premium and Interest 25 Section 4.3 Absence 4.02. Offices for Payments, Etc. 26 Section 4.03. Appointment to Fill a Vacancy in Office of Certain Other Rights 9 Trustee 26 Section 4.04. Paying Agents 26 Section 4.05. Written Statement to Trustee 27 Section 4.06. Reports by the Company 27 Section 4.07. Limitation on Liens 28 Section 4.08. Limitation on Sale and Leaseback 29 Section 4.09. Repurchase of Notes upon a Change of Control Triggering Event 30 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 CONSOLIDATION, MERGER, SALE OR CONVEYANCE 31 Section 5.1 Power and Authority of the Manager 9 5.01. Company May Consolidate, Merge, Etc., on Certain Terms 31 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 5.02. Successor Company Substituted 31 ARTICLE VI BOOKSDEFAULT AND REMEDIES 32 Section 6.01. Events of Default 32 Section 6.02. Acceleration 33 Section 6.03. Other Remedies 34 Section 6.04. Waiver of Past Defaults 34 Section 6.05. Control by Majority 34 Section 6.06. Limitation on Suits 34 Section 6.07. Rights of Holders to Receive Payment 35 Section 6.08. Collection Suit by Trustee 35 Section 6.09. Trustee May File Proofs of Claim 35 Section 6.10. Priorities 36 Section 6.11. Restoration of Rights and Remedies 36 Section 6.12. Undertaking for Costs 36 Section 6.13. Rights and Remedies Cumulative 37 Section 6.14. Delay or Omission Not Waiver 37 Section 6.15. Waiver of Stay, RECORDSExtension or Usury Laws 37 ARTICLE VII THE TRUSTEE 37 Section 7.01. General 37 Section 7.02. Certain Rights of Trustee 39 Section 7.03. Individual Rights of Trustee 40 Section 7.04. Trustee’s Disclaimer 40 Section 7.05. Notice of Default 41 Section 7.06. Reports by Trustee to Holders 41 Section 7.07. Compensation and Indemnity 41 Section 7.08. Replacement of Trustee 42 Section 7.09. Successor Trustee by Merger 43 Section 7.10. Eligibility 44 Section 7.11. Money Held in Trust 44 ARTICLE VIII DEFEASANCE AND DISCHARGE 44 Section 8.01. Discharge of Company’s Obligations 44 Section 8.02. Legal Defeasance 45 Section 8.03. Covenant Defeasance 46 Section 8.04. Application of Trust Money 47 Section 8.05. Repayment to Company 47 Section 8.06. Reinstatement 47 ARTICLE IX SUPPLEMENTAL INDENTURES 47 Section 9.01. Supplemental Indentures Without Consent of Holders 47 Section 9.02. Supplemental Indentures with Consent of Holders 49 Section 9.03. Execution of Supplemental Indentures 50 Section 9.04. Effect of Supplemental Indentures 50 Section 9.05. Conformity with Trust Indenture Act 50 Section 9.06. Reference in Notes to Supplemental Indentures 50 ARTICLE X MISCELLANEOUS 51 Section 10.01. Trust Indenture Act of 1939 51 Section 10.02. Noteholder Communications; Noteholder Actions 51 Section 10.03. Notices 52 Section 10.04. Certificate and Opinion as to Conditions Precedent 53 Section 10.05. Statements Required in Certificate or Opinion 53 Section 10.06. Payment Date Other Than a Business Day 53 Section 10.07. Governing Law; Submission to Jurisdiction; Waiver of Trial by Jury 54 Section 10.08. No Adverse Interpretation of Other Agreements 54 Section 10.09. Successors 54 Section 10.10. Duplicate Originals 54 Section 10.11. Separability 54 Section 10.12. Table of Contents and Headings 54 Section 10.13. No Liability of Directors, ACCOUNTING AND REPORTS 15 Section 6.1 Records Officers, Employees, Incorporators and Accounting 15 Section 6.2 Fiscal Year 15 Section 6.3 Reports 15Stockholders 55 INDENTURE, dated as of August 20, 2014, between The Timken Company, an Ohio corporation (the “Company”), and The Bank of New York Mellon Trust Company, N.A., a national banking association, as trustee (the “Trustee”).

TABLE OF CONTENTS. ARTICLE I DEFINITIONS 1 Section 1.1 1.01 Definitions of Terms 1 Section 1.2 Construction 4 ARTICLE II ORGANIZATION 4 DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES 7 Section 2.1 Formation 4 2.01 Designation and Terms of Securities 7 Section 2.2 Name 4 2.02 Form of Securities and Trustee’s Certificate 10 Section 2.3 Registered Office2.03 Denominations; Registered Agent; Principal Office; Other Offices 4 Provisions for Payment 10 Section 2.4 Purposes 4 2.04 Execution and Authentication 12 Section 2.5 Qualification in Other Jurisdictions 4 2.05 Registration of Transfer and Exchange 13 Section 2.6 Powers 4 2.06 Temporary Securities 14 Section 2.7 Power 2.07 Mutilated, Destroyed, Lost or Stolen Securities 14 Section 2.08 Cancellation 15 Section 2.09 Benefits of Attorney 5 Indenture 15 Section 2.8 Term 6 2.10 Authenticating Agent 15 Section 2.9 Certificate of Formation 6 2.11 Global Securities 16 Section 2.12 CUSIP Numbers, ISINs, Etc. 17 Section 2.13 Calculation Agent 17 ARTICLE III MEMBERS REDEMPTION OF SECURITIES AND UNITS 6 SINKING FUND PROVISIONS 17 Section 3.1 Members 6 3.01 Redemption 17 Section 3.2 Authorization to Issue Units 7 3.02 Notice of Redemption 18 Section 3.3 Certificates 7 3.03 Payment upon Redemption 19 Section 3.4 Record Holders 7 3.04 Sinking Fund 19 Section 3.5 Registration and Transfer 3.05 Satisfaction of Units 8 Sinking Fund Payments with Securities 20 Section 3.6 Agreements 8 3.06 Redemption of Securities for Sinking Fund 20 ARTICLE IV DISTRIBUTIONS AND REDEMPTIONS 8 CERTAIN COVENANTS 20 Section 4.1 Distributions to Record Holders 8 Section 4.2 4.01 Payment of Taxes 9 Principal, Premium and Interest 20 Section 4.3 Absence 4.02 Maintenance of Office or Agency 20 Section 4.03 Paying Agents 21 Section 4.04 Statement by Officers as to Default 22 Section 4.05 Existence 23 Section 4.06 Waiver of Certain Other Rights 9 Covenants 23 Section 4.07 Appointment to Fill Vacancy in Office of Trustee 23 ARTICLE V MANAGEMENT SECURITYHOLDERS’ LISTS AND OPERATION OF BUSINESS 9 REPORTS BY THE COMPANY AND THE TRUSTEE 23 Section 5.1 Power 5.01 Company to Furnish Trustee with Names and Authority Addresses of the Manager 9 Securityholders 23 Section 5.2 Term and Withdrawal 5.02 Preservation of the Manager 11 Information; Communications with Securityholders 23 Section 5.3 Determinations 5.03 Reports by the Manager 11 Company 24 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of 5.04 Reports by the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 Trustee 24 ARTICLE VI BOOKSREMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT 25 Section 6.01 Events of Default 25 Section 6.02 Collection of Indebtedness and Suits for Enforcement by Trustee 27 Section 6.03 Application of Moneys Collected 29 Section 6.04 Limitation on Suits 29 Section 6.05 Unconditional Right of Securityholders to Receive Principal and Interest 29 Section 6.06 Rights and Remedies Cumulative; Delay or Omission Not Waiver 30 Section 6.07 Control by Securityholders 30 Section 6.08 Undertaking to Pay Costs 30 Section 6.09 Waiver of Past Defaults 31 ARTICLE VII CONCERNING THE TRUSTEE 31 Section 7.01 Certain Duties and Responsibilities of Trustee 31 Section 7.02 Certain Rights of Trustee 33 Section 7.03 Trustee Not Responsible for Recitals or Issuance or Securities 34 Section 7.04 May Hold Securities 34 Section 7.05 Moneys Held in Trust 35 Section 7.06 Compensation and Reimbursement 35 Section 7.07 Reliance on Officers’ Certificate 36 Section 7.08 Disqualification; Conflicting Interests 36 Section 7.09 Corporate Trustee Required; Eligibility 36 Section 7.10 Resignation and Removal; Appointment of Successor 36 Section 7.11 Acceptance of Appointment By Successor 38 Section 7.12 Merger, RECORDSConversion, ACCOUNTING Consolidation or Succession to Business 39 Section 7.13 Preferential Collection of Claims against the Company 39 Section 7.14 Agents 39 ARTICLE VIII CONCERNING THE SECURITYHOLDERS 39 Section 8.01 Evidence of Action by Securityholders 39 Section 8.02 Proof of Execution by Securityholders 40 Section 8.03 Who May be Deemed Owners 40 Section 8.04 Certain Securities Owned by Company Disregarded 41 Section 8.05 Actions Binding on Future Securityholders 41 ARTICLE IX SUPPLEMENTAL INDENTURES 41 Section 9.01 Supplemental Indentures without the Consent of Securityholders 41 Section 9.02 Supplemental Indentures with Consent of Securityholders 43 Section 9.03 Effect of Supplemental Indentures 44 Section 9.04 Securities Affected by Supplemental Indentures 44 Section 9.05 Execution of Supplemental Indentures 44 ARTICLE X CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 45 Section 10.01 When the Company May Consolidate, Merge, Etc. 45 ARTICLE XI SATISFACTION AND REPORTS 15 DISCHARGE 45 Section 6.1 Records 11.01 Satisfaction and Accounting 15 Discharge of Indenture 46 Section 6.2 Fiscal Year 15 11.02 Discharge of Obligations 46 Section 6.3 Reports 1511.03 Deposited Moneys to be Held in Trust 46 Section 11.04 Payment of Moneys Held by Paying Agents 47 Section 11.05 Repayment to Company 47 ARTICLE XII IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS 47 Section 12.01 No Recourse 47 ARTICLE XIII DEFEASANCE AND COVENANT DEFEASANCE 48 Section 13.01 Company’s Option to Effect Defeasance or Covenant Defeasance 48 Section 13.02 Defeasance and Discharge 48 Section 13.03 Covenant Defeasance 48 Section 13.04 Conditions to Defeasance or Covenant Defeasance 49

TABLE OF CONTENTS. This Table of Contents is not part of the Agreement to which it is attached but is inserted for convenience of reference only. ARTICLE I DEFINITIONS AND ACCOUNTING TERMS 1 Section 1.1 Definitions 1.01. Certain Defined Terms 1 Section 1.2 Construction 4 1.02. Computation of Time Periods; Terms Generally 26 Section 1.03. Accounting Terms; GAAP 26 Section 1.04. Daily Simple ▇▇▇▇▇ Disclaimer 27 ARTICLE II ORGANIZATION 4 AMOUNTS AND TERMS OF THE LOANS 28 Section 2.1 Formation 4 2.01. Loans 28 Section 2.2 Name 4 2.02. Evidence of Indebtedness 28 Section 2.3 Registered Office2.03. Interest 28 Section 2.04. Voluntary Commitment Reductions and Prepayments 29 Section 2.05. Notice of Credit Events; Registered AgentFunding of Loans 29 Section 2.06. Payment on the Loans and Other Obligations 30 Section 2.07. Mandatory Commitment Reductions and Repayments 31 Section 2.08. Payment of Fees 32 Section 2.09. Increased Costs, Illegality, Etc 32 Section 2.10. Taxes 34 Section 2.11. Sharing of Payments, Etc 38 Section 2.12. Mitigation; Principal Office; Other Offices 4 Replacement of Lender 39 Section 2.4 Purposes 4 Section 2.5 Qualification in Other Jurisdictions 4 Section 2.6 Powers 4 Section 2.7 Power of Attorney 5 Section 2.8 Term 6 Section 2.9 Certificate of Formation 6 2.13. Interest Rate Determination 40 ARTICLE III MEMBERS AND UNITS 6 Section 3.1 Members 6 Section 3.2 Authorization to Issue Units 7 Section 3.3 Certificates 7 Section 3.4 Record Holders 7 Section 3.5 Registration and Transfer of Units 8 Section 3.6 Agreements 8 RESERVED 40 ARTICLE IV DISTRIBUTIONS REPRESENTATIONS AND REDEMPTIONS 8 WARRANTIES 40 Section 4.1 Distributions 4.01. Organization; Powers 40 Section 4.02. Authorization; Enforceability 40 Section 4.03. Governmental Approvals; No Conflicts 41 Section 4.04. Financial Condition; No Material Adverse Change 41 Section 4.05. Litigation 41 Section 4.06. Compliance with Laws and Agreements; No Default 41 Section 4.07. Investment Company Status 42 Section 4.08. Taxes 42 Section 4.09. Disclosure 42 Section 4.10. Margin Regulations 42 Section 4.11. Beneficial Ownership 43 Section 4.12. Use of Proceeds 43 Section 4.13. Acquisition Documents 43 Section 4.14. Solvency 43 ARTICLE V CONDITIONS OF LENDING 43 Section 5.01. Conditions to Record Holders 8 Effective Date 43 Section 4.2 5.02. Conditions to Closing Date 44 Section 5.03. Each Subsequent Borrowing Date 45 Section 5.04. Actions during Certain Funds Period 45 Section 5.05. Determinations under Article V 46 ARTICLE VI AFFIRMATIVE COVENANTS 46 Section 6.01. Financial Statements and Other Information 46 Section 6.02. Notices of Material Events 48 Section 6.03. Existence; Conduct of Business 48 Section 6.04. Payment of Taxes 9 Obligations 48 Section 4.3 Absence 6.05. Maintenance of Certain Other Rights 9 ARTICLE V MANAGEMENT AND OPERATION OF BUSINESS 9 Properties 48 Section 5.1 Power 6.06. Insurance 48 Section 6.07. Books and Authority of the Manager 9 Section 5.2 Term and Withdrawal of the Manager 11 Section 5.3 Determinations by the Manager 11 Section 5.4 Exculpation, Indemnification, Advances and Insurance 12 Section 5.5 Duties of the Manager and its Officers and Managers 14 Section 5.6 Outside Activities 14 Section 5.7 Reliance by Third Parties 14 Section 5.8 Reimbursement of Expenses 14 ARTICLE VI BOOKS, RECORDS, ACCOUNTING AND REPORTS 15 Section 6.1 Records and Accounting 15 Visitation Rights 49 Section 6.2 Fiscal Year 15 6.08. Compliance with Laws 49 Section 6.3 Reports 156.09. Use of Proceeds 49 Section 6.10. Beneficial Ownership 49 Section 6.11. Scheme and Offer 50 ARTICLE VII NEGATIVE COVENANTS 52 Section 7.01. Liens 52 Section 7.02. Fundamental Changes 53 Section 7.03. Transactions with Affiliates 53 Section 7.04. Debt to Capitalization Ratio 54 ARTICLE VIII EVENTS OF DEFAULT 54 Section 8.01. Events of Default 54 ARTICLE IX THE ADMINISTRATIVE AGENT 56 Section 9.01. Authorization and Action 56 Section 9.02. No Reliance 57 Section 9.03. Capacity as Lender 57 Section 9.04. Lender Credit Decision 57 Section 9.05. Indemnification 58 Section 9.06. Successor Administrative Agent 58 Section 9.07. ERISA Representations 58 Section 9.08. Erroneous Payments 60 ARTICLE X MISCELLANEOUS 62 Section 10.01. Notices 62 Section 10.02. Waivers; Amendments 63 Section 10.03. Costs and Expenses and Indemnification 64 Section 10.04. Assignments and Participations 65 Section 10.05. Survival 68 Section 10.06. Counterparts; Integration; Effectiveness 69 Section 10.07. Severability 69 Section 10.08. Right of Setoff 69 Section 10.09. Governing Law; Jurisdiction; Etc 69 Section 10.10. Headings 70 Section 10.11. Confidentiality 70 Section 10.12. USA PATRIOT ACT 72 Section 10.13. NO FIDUCIARY DUTY 72 Section 10.14. Acknowledgement and Consent to Bail-In of Affected Financial Institutions 72 Section 10.15. WAIVER OF JURY TRIAL 73 SCHEDULE I Commitments SCHEDULE II [Reserved] SCHEDULE III Liens SCHEDULE IV Disclosed Matters EXHIBIT A Form of Assignment and Acceptance EXHIBIT B Form of Note EXHIBIT C Form of Notice of Loan Borrowing EXHIBIT D Form of Closing Date Officer’s Certificate EXHIBIT E Form of Confidentiality and Front Running Letter This BRIDGE CREDIT AGREEMENT (as the same may from time to time be amended, restated or otherwise modified, this “Agreement”) is made effective as of August 2, 2021 among: