-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Oq3dg6+CKV/um2Is/RIqqpFUKmENzywvc9UW9c4FDKsLV5EvCq28cGcL3dmZ3wD3 WFKMKVDezDhq7dahveeJGQ== 0001193125-10-033297.txt : 20100217 0001193125-10-033297.hdr.sgml : 20100217 20100217170432 ACCESSION NUMBER: 0001193125-10-033297 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 8 CONFORMED PERIOD OF REPORT: 20100212 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100217 DATE AS OF CHANGE: 20100217 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AFS SenSub Corp. CENTRAL INDEX KEY: 0001347185 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 880475154 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-140931 FILM NUMBER: 10613528 BUSINESS ADDRESS: STREET 1: 2265B RENAISSANCE DRIVE, SUITE 17 CITY: LAS VEGAS STATE: NV ZIP: 89119 BUSINESS PHONE: 702-932-4914 MAIL ADDRESS: STREET 1: 2265B RENAISSANCE DRIVE, SUITE 17 CITY: LAS VEGAS STATE: NV ZIP: 89119 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AmeriCredit Automobile Receivables Trust 2010-1 CENTRAL INDEX KEY: 0001482783 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-146701-05 FILM NUMBER: 10613529 BUSINESS ADDRESS: STREET 1: 2265B RENAISSANCE DRIVE, SUITE 17 CITY: LAS VEGAS STATE: NV ZIP: 89119 BUSINESS PHONE: 702-932-4914 MAIL ADDRESS: STREET 1: 2265B RENAISSANCE DRIVE, SUITE 17 CITY: LAS VEGAS STATE: NV ZIP: 89119 FORMER COMPANY: FORMER CONFORMED NAME: AmerCredit Automobile Receivables Trust 2010-1 DATE OF NAME CHANGE: 20100201 8-K 1 d8k.htm FORM 8-K Form 8-K

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)

February 12, 2010

 

 

AmeriCredit Automobile Receivables Trust 2010-1

(Exact name of registrant as specified in its charter)

AFS SenSub Corp.

(Exact name of depositor as specified in its charter)

AmeriCredit Financial Services, Inc.

(Exact name of sponsor as specified in its charter)

 

 

 

Delaware   333-146701-05   27-6404033
(State or Other Jurisdiction of
Incorporation)
 

(Commission

File Number)

  (I.R.S. Employer
Identification No.)

 

c/o AmeriCredit Financial Services, Inc.

Attention: J. Michael May, Esq.

801 Cherry Street, Suite 3500

Fort Worth, Texas

  76102
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number including area code - (817) 302-7000

      

 

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 1.01. Entry into a Material Definitive Agreement.

AFS SenSub Corp. (“AFS SenSub”), as depositor, and AmeriCredit Financial Services, Inc. (“AmeriCredit”), as sponsor, have caused a newly formed issuing entity, AmeriCredit Automobile Receivables Trust 2010-1 (the “Issuing Entity”), to issue $132,600,000 Class A-1 0.29642% Asset Backed Notes, $147,540,000 Class A-2 0.97% Asset Backed Notes, $123,300,000 Class A-3 1.66% Asset Backed Notes, $75,864,000 Class B 3.72% Asset Backed Notes, $79,308,000 Class C 5.19% Asset Backed Notes and $41,388,000 Class D 6.65% Asset Backed Notes (collectively, the “Notes”) and an Asset Backed Certificate (the “Certificate”), on February 12, 2010 (the “Closing Date”). The Notes are registered under the Registration Statement. This Current Report on Form 8-K is being filed to satisfy an undertaking to file copies of certain agreements executed in connection with the issuance of the Notes, the forms of which were filed as Exhibits to the Registration Statement.

The Issuing Entity was formed, and the Certificate was issued, pursuant to the Trust Agreement, attached hereto as Exhibit 4.2, dated as of January 11, 2010, as amended and restated as of February 2, 2010 (the “Trust Agreement”), between AFS SenSub and Wilmington Trust Company (“WTC”), as Owner Trustee. The Notes were issued pursuant to the Indenture, attached hereto as Exhibit 4.1, dated as of February 2, 2010 (the “Indenture”), between the Issuing Entity and Wells Fargo Bank, National Association (“Wells Fargo”), as Trustee and Trust Collateral Agent. The Notes were sold to Barclays Capital Inc., Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, UBS Securities LLC, and Wells Fargo Securities, LLC (the “Underwriters”), pursuant to the Underwriting Agreement attached hereto as Exhibit 1.1, dated as of February 4, 2010 (the “Underwriting Agreement”), among AmeriCredit, AFS SenSub, and Barclays Capital Inc. and Deutsche Bank Securities Inc., as representatives of the Underwriters (the “Representatives”).

The Notes evidence indebtedness of the Issuing Entity, the assets of which consist primarily of “sub-prime” automobile loan contracts (the “Receivables”) secured by new and used automobiles, light duty trucks and vans. AFS SenSub purchased the Receivables from AmeriCredit pursuant to the Purchase Agreement, attached hereto as Exhibit 10.1, dated as of February 2, 2010 (the “Purchase Agreement”), between AmeriCredit and AFS SenSub. The Issuing Entity purchased the Receivables from AFS SenSub pursuant to the Sale and Servicing Agreement, attached hereto as Exhibit 4.3, dated as of February 2, 2010 (the “Sale and Servicing Agreement”), among the Issuing Entity, AFS SenSub, AmeriCredit and Wells Fargo, as Backup Servicer and Trust Collateral Agent.

AmeriCredit, as Servicer, has agreed to perform servicing duties with regard to the Receivables pursuant to the Sale and Servicing Agreement and has also agreed to serve as custodian of the Receivables pursuant to the Custodian Agreement, attached hereto as Exhibit 10.3, dated as of February 2, 2010 (the “Custodian Agreement”), among AmeriCredit and Wells Fargo. JPMorgan Chase Bank, N.A. (“JPMorgan Chase”) has agreed to provide its banking services for the deposit of remittances related to the Receivables pursuant to the Lockbox Account Agreement, attached hereto as Exhibit 10.9, dated as of February 2, 2010 (the “Lockbox Account Agreement”), among Wells Fargo, as Trustee, AmeriCredit and JPMorgan Chase, as Processor, and Regulus Group II LLC (“Regulus”) has agreed to collect and deposit remittances related to the Receivables into the lockbox account pursuant to the Lockbox Processing Agreement, attached hereto as Exhibit 10.10, dated February 2, 2010 (the “Lockbox Processing Agreement”), among Wells Fargo, as Trustee, AmeriCredit and Regulus.


Item 9.01. Financial Statements, Pro Forma Financial Information and Exhibits.

 

(a) Not applicable.

 

(b) Not applicable.

 

(c) Not applicable.

 

(d) Exhibits:

1.1 Underwriting Agreement, dated as of February 4, 2010, among AmeriCredit, as Sponsor, AFS SenSub, as Seller, and the Representatives (see Exhibit 1.1 to Form 8-K filed on February 8, 2010, in connection with Registration Statement No. 333-146701, which is incorporated by reference herein).

4.1 Indenture, dated as of February 2, 2010, between the Issuing Entity and Wells Fargo, as Trustee and Trust Collateral Agent.

4.2 Amended and Restated Trust Agreement, dated as of February 2, 2010, between AFS SenSub and WTC, as Owner Trustee.

4.3 Sale and Servicing Agreement, dated as of February 2, 2010, among the Issuing Entity, AmeriCredit, as Servicer, AFS SenSub and Wells Fargo, as Backup Servicer and Trust Collateral Agent.

5.1 Opinion of Dewey & LeBoeuf LLP with respect to validity (see Exhibit 5.1 to Form 8-K filed on February 12, 2010, in connection with Registration Statement Nos. 333-146701 and 333-146701-05, which is incorporated by reference herein).

8.1 Opinion of Dewey & LeBoeuf LLP with respect to tax matters (see Exhibit 8.1 to Form 8-K filed on February 12, 2010, in connection with Registration Statement Nos. 333-146701 and 333-146701-05, which is incorporated by reference herein).

10.1 Purchase Agreement, dated as of February 2, 2010, between AmeriCredit, as Seller, and AFS SenSub, as Purchaser.

10.3 Custodian Agreement, dated as of February 2, 2010, between AmeriCredit, as Custodian and Wells Fargo.

10.7 Second Amended and Restated Servicing Agreement, dated as of January 1, 2006, between AmeriCredit and AFS of Canada (see Exhibit 4.4 to Form 8-K filed on March 8, 2006, in connection with Registration Statement No. 333-121120-06, which is incorporated by reference herein).

10.9 Lockbox Account Agreement, dated as of February 2, 2010, among AmeriCredit, Wells Fargo, as Trustee, and JPMorgan Chase Bank, N.A., as Processor.

10.10 Lockbox Processing Agreement, dated February 2, 2010, among AmeriCredit, Wells Fargo, as Trustee and Regulus Group II LLC, as Processor.

 

3


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1
By:   AmeriCredit Financial Services, Inc., as Servicer
  By:   /s/     J. MICHAEL MAY        
  Name:   J. Michael May
  Title:  

Executive Vice President, Chief Legal

Officer and Secretary

Dated: February 17, 2010

 

4


EXHIBIT INDEX

 

Exhibit No.

  

Description

  1.1    Underwriting Agreement, dated as of February 4, 2010, among AmeriCredit Financial Services, Inc., as Sponsor, AFS SenSub Corp., as Seller and Barclays Capital Inc. and Deutsche Bank Securities Inc., as representatives of the Underwriters (the “Representatives”) (see Exhibit 1.1 to Form 8-K filed on February 8, 2010, in connection with Registration Statement No. 333-146701, which is incorporated by reference herein).
  4.1    Indenture, dated as of February 2, 2010, between AmeriCredit Automobile Receivables Trust 2010-1, as Issuing Entity, and Wells Fargo Bank, National Association, as Trustee and Trust Collateral Agent.
  4.2    Amended and Restated Trust Agreement, dated as of February 2, 2010, between AFS SenSub Corp., as Seller, and Wilmington Trust Company, as Owner Trustee.
  4.3    Sale and Servicing Agreement, dated as of February 2, 2010, among AmeriCredit Financial Services, Inc., as Servicer, AFS SenSub Corp., as Seller, and Wells Fargo Bank, National Association, as Backup Servicer and Trust Collateral Agent.
  5.1    Opinion of Dewey & LeBoeuf LLP with respect to validity (see Exhibit 5.1 to Form 8-K filed on February 12, 2010, in connection with Registration Statement Nos. 333-146701 and 333-146701-05, which is incorporated by reference herein).
  8.1    Opinion of Dewey & LeBoeuf LLP with respect to tax matters (see Exhibit 8.1 to Form 8-K filed on February 12, 2010, in connection with Registration Statement Nos. 333-146701 and 333-146701-05, which is incorporated by reference herein).
10.1    Purchase Agreement, dated as of February 2, 2010, between AmeriCredit Financial Services, Inc., as Seller, and AFS SenSub Corp., as Purchaser.
10.3    Custodian Agreement, dated as of February 2, 2010, between AmeriCredit Financial Services, Inc., as Custodian, and Wells Fargo Bank, National Association, as Trust Collateral Agent.
10.7    Second Amended and Restated Servicing Agreement, dated as of January 1, 2006 between AmeriCredit Financial Services of Canada Ltd. and AmeriCredit Financial Services, Inc. (see Exhibit 4.4 to Form 8-K filed on March 8, 2006, in connection with Registration Statement No. 333-121120-06, which is incorporated by reference herein).

 

5


10.9      Lockbox Account Agreement, dated as of February 2, 2010, among AmeriCredit Financial Services, Inc., Wells Fargo Bank, National Association, as Trustee, and JPMorgan Chase Bank, N.A., as Processor.
10.10    Lockbox Processing Agreement, dated as of February 2, 2010, among AmeriCredit Financial Services, Inc., Wells Fargo Bank, National Association, as Trustee, and Regulus Group II LLC, as Processor.

 

6

EX-4.1 2 dex41.htm INDENTURE, DATED AS OF FEBRUARY 2, 2010 Indenture, dated as of February 2, 2010

Exhibit 4.1

Execution Copy

 

 

 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1

Class A-1 0.29642% Asset Backed Notes

Class A-2 0.97% Asset Backed Notes

Class A-3 1.66% Asset Backed Notes

Class B 3.72% Asset Backed Notes

Class C 5.19% Asset Backed Notes

Class D 6.65% Asset Backed Notes

 

 

INDENTURE

Dated as of February 2, 2010

 

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

Trustee and Trust Collateral Agent

 

 

 


TABLE OF CONTENTS

 

     Page

ARTICLE I Definitions and Incorporation by Reference

   3

SECTION 1.1

   Definitions    3

SECTION 1.2

   Incorporation by Reference of Trust Indenture Act    10

SECTION 1.3

   Rules of Construction    11

ARTICLE II The Notes

   11

SECTION 2.1

   Form    11

SECTION 2.2

   Execution, Authentication and Delivery    11

SECTION 2.3

   Temporary Notes    12

SECTION 2.4

   Registration; Registration of Transfer and Exchange    12

SECTION 2.5

   Mutilated, Destroyed, Lost or Stolen Notes    14

SECTION 2.6

   Persons Deemed Owner    15

SECTION 2.7

   Payment of Principal and Interest; Defaulted Interest    15

SECTION 2.8

   Cancellation    16

SECTION 2.9

   Release of Collateral    16

SECTION 2.10

   Book-Entry Notes    16

SECTION 2.11

   Notices to Clearing Agency    17

SECTION 2.12

   Definitive Notes    17

ARTICLE III Covenants

   18

SECTION 3.1

   Payment of Principal and Interest    18

SECTION 3.2

   Maintenance of Office or Agency    18

SECTION 3.3

   Money for Payments to be Held in Trust    18

SECTION 3.4

   Existence    20

SECTION 3.5

   Protection of Trust Estate    20

SECTION 3.6

   Opinions as to Trust Estate    20

SECTION 3.7

   Performance of Obligations; Servicing of Receivables    21

SECTION 3.8

   Negative Covenants    22

SECTION 3.9

   Annual Statement as to Compliance    22

SECTION 3.10

   Issuer May Consolidate, Etc. Only on Certain Terms    23

SECTION 3.11

   Successor or Transferee    25

SECTION 3.12

   No Other Business    25

SECTION 3.13

   No Borrowing    25

SECTION 3.14

   Servicer’s Obligations    25

SECTION 3.15

   Guarantees, Loans, Advances and Other Liabilities    25

SECTION 3.16

   Capital Expenditures    25

SECTION 3.17

   Compliance with Laws    25

SECTION 3.18

   Restricted Payments    26

SECTION 3.19

   Notice of Events of Default    26

SECTION 3.20

   Further Instruments and Acts    26

SECTION 3.21

   Amendments of Sale and Servicing Agreement and Trust Agreement    26

SECTION 3.22

   Income Tax Characterization    26

 

i


ARTICLE IV Satisfaction and Discharge

   26

SECTION 4.1

   Satisfaction and Discharge of Indenture    26

SECTION 4.2

   Application of Trust Money    28

SECTION 4.3

   Repayment of Moneys Held by Note Paying Agent    28

ARTICLE V Remedies

   28

SECTION 5.1

   Events of Default    28

SECTION 5.2

   Rights Upon Event of Default    29

SECTION 5.3

   Collection of Indebtedness and Suits for Enforcement by Trustee    30

SECTION 5.4

   Remedies    32

SECTION 5.5

   Optional Preservation of the Receivables    33

SECTION 5.6

   Priorities    34

SECTION 5.7

   Limitation of Suits    35

SECTION 5.8

   Unconditional Rights of Noteholders To Receive Principal and Interest    36

SECTION 5.9

   Restoration of Rights and Remedies    36

SECTION 5.10

   Rights and Remedies Cumulative    36

SECTION 5.11

   Delay or Omission Not a Waiver    36

SECTION 5.12

   Control by Noteholders    36

SECTION 5.13

   Waiver of Past Defaults    37

SECTION 5.14

   Undertaking for Costs    37

SECTION 5.15

   Waiver of Stay or Extension Laws    37

SECTION 5.16

   Action on Notes    38

SECTION 5.17

   Performance and Enforcement of Certain Obligations    38

ARTICLE VI The Trustee and the Trust Collateral Agent

   38

SECTION 6.1

   Duties of Trustee    38

SECTION 6.2

   Rights of Trustee    40

SECTION 6.3

   Individual Rights of Trustee    41

SECTION 6.4

   Trustee’s Disclaimer    41

SECTION 6.5

   Notice of Defaults    41

SECTION 6.6

   Reports by Trustee to Holders    41

SECTION 6.7

   Compensation and Indemnity    42

SECTION 6.8

   Replacement of Trustee    43

SECTION 6.9

   Successor Trustee by Merger    44

SECTION 6.10

   Appointment of Co-Trustee or Separate Trustee    44

SECTION 6.11

   Eligibility: Disqualification    45

SECTION 6.12

   Preferential Collection of Claims Against Issuer    46

SECTION 6.13

   Appointment and Powers    46

SECTION 6.14

   Performance of Duties    47

SECTION 6.15

   Limitation on Liability    47

SECTION 6.16

   Reliance Upon Documents    48

SECTION 6.17

   Successor Trust Collateral Agent    48

SECTION 6.18

   Compensation    49

 

ii


SECTION 6.19

   Representations and Warranties of the Trust Collateral Agent and the Issuer    49

SECTION 6.20

   Waiver of Setoffs    50

ARTICLE VII Noteholders’ Lists and Reports

   50

SECTION 7.1

   Issuer To Furnish To Trustee Names and Addresses of Noteholders    50

SECTION 7.2

   Preservation of Information; Communications to Noteholders.    50

SECTION 7.3

   Reports by Issuer    51

SECTION 7.4

   Reports by Trustee    51

ARTICLE VIII Accounts, Disbursements and Releases

   52

SECTION 8.1

   Collection of Money    52

SECTION 8.2

   Release of Trust Estate    52

SECTION 8.3

   Opinion of Counsel    52

ARTICLE IX Supplemental Indentures

   53

SECTION 9.1

   Supplemental Indentures Without Consent of Noteholders    53

SECTION 9.2

   Supplemental Indentures with Consent of Noteholders    54

SECTION 9.3

   Execution of Supplemental Indentures    55

SECTION 9.4

   Effect of Supplemental Indenture    55

SECTION 9.5

   Conformity With Trust Indenture Act    56

SECTION 9.6

   Reference in Notes to Supplemental Indentures    56

ARTICLE X Redemption of Notes

   56

SECTION 10.1

   Redemption    56

SECTION 10.2

   Form of Redemption    57

SECTION 10.3

   Notes Payable on Redemption Date    57

ARTICLE XI Miscellaneous

   57

SECTION 11.1

   Compliance Certificates and Opinions, etc.    57

SECTION 11.2

   Form of Documents Delivered to Trustee    59

SECTION 11.3

   Acts of Noteholders    60

SECTION 11.4

   Notices, etc., to Trustee, Issuer and Rating Agencies    60

SECTION 11.5

   Notices to Noteholders; Waiver    61

SECTION 11.6

   [Reserved]    62

SECTION 11.7

   Conflict with Trust Indenture Act    62

SECTION 11.8

   Effect of Headings and Table of Contents    62

SECTION 11.9

   Successors and Assigns    62

SECTION 11.10

   Separability    62

SECTION 11.11

   Benefits of Indenture    62

SECTION 11.12

   Legal Holidays    62

SECTION 11.13

   GOVERNING LAW    62

SECTION 11.14

   Counterparts    63

SECTION 11.15

   Recording of Indenture    63

 

iii


SECTION 11.16

   Trust Obligation    63

SECTION 11.17

   No Petition    63

SECTION 11.18

   Inspection    63

EXHIBITS

  

EXHIBIT A-1

  

Form of Class A-1 Note

  

EXHIBIT A-2

  

Form of Class A-2 Note

  

EXHIBIT A-3

  

Form of Class A-3 Note

  

EXHIBIT B

  

Form of Class B Note

  

EXHIBIT C

  

Form of Class C Note

  

EXHIBIT D

  

Form of Class D Note

  

SCHEDULES

  

SCHEDULE A

  

Representations and Warranties of the Issuer

  

 

iv


INDENTURE dated as of February 2, 2010, between AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1, a Delaware statutory trust (the “Issuer”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as trustee (the “Trustee”) and Trust Collateral Agent (as defined below).

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 Class A-1 0.29642% Asset Backed Notes (the “Class A-1 Notes”), the Class A-2 0.97% Asset Backed Notes (the “Class A-2 Notes”), the Class A-3 1.66% Asset Backed Notes (the “Class A-3 Notes”, and together with the Class A-1 Notes and the Class A-2 Notes, the “Class A Notes”), the Class B 3.72% Asset Backed Notes (the “Class B Notes”), the Class C 5.19% Asset Backed Notes (the “Class C Notes”) and the Class D 6.65% Asset Backed Notes (the “Class D Notes” and together with the Class A Notes, the Class B Notes and the Class C Notes, the “Notes”).

As security for the payment and performance by the Issuer of its obligations under this Indenture and the Notes, the Issuer has agreed to assign the Collateral (as defined below) as collateral to the Trust Collateral Agent for the benefit of the Trustee on behalf of the Noteholders.


GRANTING CLAUSE

The Issuer hereby Grants to the Trust Collateral Agent at the Closing Date, for the benefit of the Issuer Secured Parties, all of the Issuer’s right, title and interest in and to the following property, whether now existing or hereafter acquired or arising (a) the Receivables and all moneys received thereon after the Cutoff Date; (b) the security interests in the Financed Vehicles granted by Obligors pursuant to the Receivables and any other interest of the Issuer in the Financed Vehicles; (c) any proceeds with respect to the Receivables repurchased by a Dealer, pursuant to a Dealer Agreement, as a result of a breach of representation or warranty in the related Dealer Agreement or repurchased by a Third-Party Lender, pursuant to an Auto Loan Purchase and Sale Agreement, as a result of a breach of representation or warranty in the related Auto Loan Purchase and Sale Agreement; (d) all rights under any Service Contracts on the related Financed Vehicles; (e) any proceeds with respect to the Receivables from claims on any physical damage, credit life or disability insurance policies covering Financed Vehicles or Obligors and any proceeds from the liquidation of the Receivables; (f) the Trust Accounts and the Lockbox Account and all funds on deposit from time to time in the Trust Accounts and the Lockbox Account, and in all investments and proceeds thereof and all rights of the Issuer therein (including all income thereon); (g) the Issuer’s rights and benefits, but none of its obligations or burdens, under the Purchase Agreement, including the delivery requirements, representations and warranties and the cure and repurchase obligations of AmeriCredit under the Purchase Agreement; (h) all items contained in the Receivable Files and any and all other documents that AmeriCredit keeps on file in accordance with its customary procedures relating to the Receivables, the Obligors or the Financed Vehicles; (i) the Issuer’s rights and benefits, but none of its obligations or burdens, under the Sale and Servicing Agreement (including all rights of the Seller under the Purchase Agreement assigned to the Issuer pursuant to the Sale and Servicing Agreement); (j) all of the Issuer’s (i) Accounts, (ii) Chattel Paper, (iii) Documents, (iv) Instruments and (v) General Intangibles (as such terms are defined in the UCC) relative to the property described in (a) through (i); and (k) all present and future claims, demands, causes and choses of 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, voluntary or involuntary, into cash or other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance proceeds, condemnation awards, rights to payment of any and every kind and other forms of obligations and receivables, instruments and other property which at any time constitute all or part of or are included in the proceeds of any of the foregoing (collectively, the “Collateral”).

The foregoing Grant is made in trust to the Trust Collateral Agent, for the benefit of the Trustee on behalf of the Noteholders. The Trust Collateral Agent hereby acknowledges such Grant, 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 end that the interests of such parties, recognizing the priorities of their respective interests may be adequately and effectively protected.

 

2


ARTICLE I

Definitions and Incorporation by Reference

SECTION 1.1 Definitions. Except as otherwise specified herein, the following terms have the respective meanings set forth below for all purposes of this Indenture.

Act” has the meaning specified in Section 11.3(a).

Affiliate” means, with respect to any specified Person, any other Person controlling or controlled by or under common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. A Person shall not be deemed to be an Affiliate of any person solely because such other Person has the contractual right or obligation to manage such Person unless such other Person controls such Person through equity ownership or otherwise.

Authorized Officer” means, with respect to the Issuer and the Servicer, any officer or agent acting pursuant to a power of attorney of the Owner Trustee or the Servicer, as applicable, who is authorized to act for the Owner Trustee or the Servicer, as applicable, in matters relating to the Issuer and who is identified on the list of Authorized Officers delivered by each of the Owner Trustee and the Servicer to the Trustee on the Closing Date (as such list may be modified or supplemented from time to time thereafter).

Basic Documents” means this Indenture, the Certificate of Trust, the Trust Agreement, as amended, the Sale and Servicing Agreement, the Custodian Agreement, the Lockbox Account Agreement, the Lockbox Processing Agreement, the Underwriting Agreement and other documents and certificates delivered in connection therewith.

Benefit Plan Entity” has the meaning specified in Section 2.4.

Book Entry Notes” means a beneficial interest in the Notes, ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 2.10.

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

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

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

 

3


Certificate of Trust” means the certificate of trust of the Issuer substantially in the form of Exhibit B to the Trust Agreement.

Class A Notes” means the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes.

Class A-1 Interest Rate” means 0.29642% per annum (computed on the basis of a 360-day year and the actual number of days in the related Interest Period).

Class A-1 Notes” means the Class A-1 0.29642% Asset Backed Notes, substantially in the form of Exhibit A-1.

Class A-2 Interest Rate” means 0.97% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

Class A-2 Notes” means the Class A-2 0.97% Asset Backed Notes, substantially in the form of Exhibit A-2.

Class A-3 Interest Rate” means 1.66% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

Class A-3 Notes” means the Class A-3 1.66% Asset Backed Notes, substantially in the form of Exhibit A-3.

Class B Interest Rate” means 3.72% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

Class B Notes” means the Class B 3.72% Asset Backed Notes, substantially in the form of Exhibit B.

Class C Interest Rate” means 5.19% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

Class C Notes” means the Class C 5.19% Asset Backed Notes, substantially in the form of Exhibit C.

Class D Interest Rate” means 6.65% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

Class D Notes” means the Class D 6.65% Asset Backed Notes, substantially in the form of Exhibit D.

Clearing Agency” means an organization registered as a “clearing agency” pursuant to Section 17A of the Exchange Act.

Clearing Agency Participant” means a broker, dealer, bank, other financial institution or other Person for whom from time to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with the Clearing Agency.

 

4


Closing Date” means February 12, 2010.

Code” means the Internal Revenue Code of 1986, as amended from time to time, and Treasury Regulations promulgated thereunder.

Collateral” has the meaning specified in the Granting Clause of this Indenture.

Controlling Party” means the Trust Collateral Agent, acting on behalf of the Noteholders.

Corporate Trust Office” means the principal office of the Trustee at which at any particular time its corporate trust business shall be administered which office at date of the execution of this Indenture is located at Sixth Street and Marquette Avenue, MAC N9311-161 Minneapolis, Minnesota 55479 (facsimile number (612) 667-3464, Attention: Corporate Trust Office, or at such other address as the Trustee may designate from time to time by notice to the Noteholders, the Servicer and the Issuer, or the principal corporate trust office of any successor Trustee (the address of which the successor Trustee will notify the Noteholders and the Issuer).

Default” means any occurrence that is, or with notice or the lapse of time or both would become, an Event of Default.

Definitive Notes” has the meaning specified in Section 2.10.

Distribution Date” has the meaning specified in the Sale and Servicing Agreement.

ERISA” has the meaning specified in Section 2.4.

Event of Default” has the meaning specified in Section 5.1.

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

Executive Officer” means, with respect to any corporation, the Chief Executive Officer, Chief Operating Officer, Chief Financial Officer, President, any Executive Vice President, any Senior Vice President, any Vice President, the Secretary or the Treasurer of such corporation; and with respect to any partnership, any general partner thereof.

Final Scheduled Distribution Date” means with respect to (i) the Class A-1 Notes, the February 15, 2011 Distribution Date, (ii) the Class A-2 Notes, the January 15, 2013 Distribution Date, (iii) the Class A-3 Notes, the March 17, 2014 Distribution Date, (iv) the Class B Notes, the November 17, 2014 Distribution Date, (v) the Class C Notes, the August 17, 2015 Distribution Date and (vi) the Class D Notes, the July 17, 2017 Distribution Date.

Grant” means mortgage, pledge, bargain, warrant, alienate, remise, release, convey, assign, transfer, create, grant a lien upon and a security interest in and right of set-off against, deposit, set over and confirm pursuant to this Indenture. A Grant of the Collateral or of any other agreement or instrument shall include all rights, powers and options (but none of the obligations) of the Granting party thereunder, including the immediate and continuing right to

 

5


claim for, collect, receive and give receipt for principal and interest payments in respect of the Collateral and all other moneys payable thereunder, to give and receive notices and other communications, to make waivers or other agreements, to exercise all rights and options, to bring proceedings in the name of the Granting party or otherwise and generally to do and receive anything that the Granting party is or may be entitled to do or receive thereunder or with respect thereto.

Holder” or “Noteholder” means the Person in whose name a Note is registered on the Note Register.

Indebtedness” means, with respect to any Person at any time, (a) indebtedness or liability of such Person for borrowed money whether or not evidenced by bonds, debentures, notes or other instruments, or for the deferred purchase price of property or services (including trade obligations); (b) obligations of such Person as lessee under leases which should have been or should be, in accordance with generally accepted accounting principles, recorded as capital leases; (c) current liabilities of such Person in respect of unfunded vested benefits under plans covered by Title IV of ERISA; (d) obligations issued for or liabilities incurred on the account of such Person; (e) obligations or liabilities of such Person arising under acceptance facilities; (f) obligations of such Person under any guarantees, endorsements (other than for collection or deposit in the ordinary course of business) and other contingent obligations to purchase, to provide funds for payment, to supply funds to invest in any Person or otherwise to assure a creditor against loss; (g) obligations of such Person secured by any lien on property or assets of such Person, whether or not the obligations have been assumed by such Person; or (h) obligations of such Person under any interest rate or currency exchange agreement.

Indenture” means this Indenture as amended and supplemented from time to time.

Independent” means, when used with respect to any specified Person, that the Person (a) is in fact independent of the Issuer, any other obligor upon the Notes, the Seller and any Affiliate of any of the foregoing Persons, (b) does not have any direct financial interest or any material indirect financial interest in the Issuer, any such other obligor, the Seller or any Affiliate of any of the foregoing Persons and (c) is not connected with the Issuer, any such other obligor, the Seller or any Affiliate of any of the foregoing Persons as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functions.

Independent Certificate” means a certificate or opinion to be delivered to the Trust Collateral Agent under the circumstances described in, and otherwise complying with, the applicable requirements of Section 11.1, prepared by an Independent appraiser or other expert appointed by an Issuer Order and approved by the Trust Collateral Agent in the exercise of reasonable care, and such opinion or certificate shall state that the signer has read the definition of “Independent” in this Indenture and that the signer is Independent within the meaning thereof.

Interest Rate” means, with respect to the (i) Class A-1 Notes, the Class A-1 Interest Rate, (ii) Class A-2 Notes, the Class A-2 Interest Rate, (iii) Class A-3 Notes, the Class A-3 Interest Rate, (iv) Class B Notes, the Class B Interest Rate, (v) Class C Notes, the Class C Interest Rate and (vi) Class D Notes, the Class D Interest Rate.

 

6


Issuer” means the party named as such in this Indenture until a successor replaces it and, thereafter, means the successor and, for purposes of any provision contained herein and required by the TIA, each other obligor on the Notes.

Issuer Order” and “Issuer Request” means a written order or request signed in the name of the Issuer by any one of its Authorized Officers and delivered to the Trustee.

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

Majority Noteholders” means the Holders of Notes representing a majority of the principal balance of the most senior Class of Notes then outstanding; provided, that neither Holders of Notes who are employees or Affiliates of the Issuer, the Seller, the Servicer or AmeriCredit Corp. nor the Notes held by such Holders shall be counted when calculating such majority of the related principal balance.

Note” means a Class A-1 Note, a Class A-2 Note, a Class A-3 Note, a Class B Note, a Class C Note or a Class D Note.

Note Owner” means, with respect to a Book-Entry Note, the person who is the owner of such Book-Entry Note, as reflected on the books of the Clearing Agency, or on the books of a Person maintaining an account with such Clearing Agency (directly as a Clearing Agency Participant or as an indirect participant, in each case in accordance with the rules of such Clearing Agency).

Note Paying Agent” means the Trustee or any other Person that meets the eligibility standards for the Trustee specified in Section 6.11 and is authorized by the Issuer to make the payments to and distributions from the Collection Account and the Note Distribution Account, including payment of principal of or interest on the Notes on behalf of the Issuer.

Note Register” and “Note Registrar” have the respective meanings specified in Section 2.4.

Notice of Default” has the meaning set forth in Section 5.1 hereof.

Officer’s Certificate” means a certificate signed by any Authorized Officer of the Owner Trustee, under the circumstances described in, and otherwise complying with, the applicable requirements of Section 11.1 and TIA § 314, and delivered to the Trustee. Unless otherwise specified, any reference in this Indenture to an Officer’s Certificate shall be to an Officer’s Certificate of any Authorized Officer of the Issuer.

Opinion of Counsel” means one or more written opinions of counsel who may, except as otherwise expressly provided in this Indenture, be employees of or counsel to the Issuer and who shall be satisfactory to the Trustee, and which shall comply with any applicable requirements of Section 11.1, and shall be in form and substance satisfactory to the Trustee.

Outstanding” means, as of the date of determination, all Notes theretofore authenticated and delivered under this Indenture except:

(i) Notes theretofore canceled by the Note Registrar or delivered to the Note Registrar for cancellation;

 

7


(ii) Notes or portions thereof the payment for which money in the necessary amount has been theretofore deposited with the Trustee or any Note Paying Agent in trust for the Noteholders (provided, however, that if such Notes are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor, satisfactory to the Trustee); and

(iii) Notes in exchange for or in lieu of other Notes which have been authenticated and delivered pursuant to this Indenture unless proof satisfactory to the Trustee is presented that any such Notes are held by a bona fide purchaser;

provided, however, that in determining whether the Holders of the requisite Outstanding Amount of the Notes have given any request, demand, authorization, direction, notice, consent or waiver hereunder or under any Basic Document, Notes owned by the Issuer, any other obligor upon the Notes, the Seller or any Affiliate of any of the foregoing Persons shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Notes that a Responsible Officer of the Trustee either actually knows to be so owned or has received written notice thereof shall be so disregarded. Notes so owned that have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Notes and that the pledgee is not the Issuer, any other obligor upon the Notes, the Seller or any Affiliate of any of the foregoing Persons.

Outstanding Amount” means the aggregate principal amount of all Notes, or class of Notes, as applicable, Outstanding at the date of determination.

Predecessor Note” means, with respect to any particular Note, every previous Note evidencing all or a portion of the same debt as that evidenced by such particular Note; and, for the purpose of this definition, any Note authenticated and delivered under Section 2.5 in lieu of a mutilated, lost, destroyed or stolen Note shall be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Note.

Proceeding” means any suit in equity, action at law or other judicial or administrative proceeding.

Prohibited Transaction Class Exemption” means U.S. Department of Labor prohibited transaction class exemption 84-14, 90-1, 91-38, 95-60 or 96-23, or any similar prohibited transaction class exemption issued by the U.S. Department of Labor.

Rating Agency” means each of Moody’s and Standard & Poor’s so long as such Persons maintain a rating on the Notes; and if any of Moody’s or Standard & Poor’s no longer maintains a rating on the Notes, such other nationally recognized statistical rating organization selected by the Seller.

 

8


Rating Agency Condition” means, with respect to any action, that each of Moody’s and Standard & Poor’s shall have been given 10 days’, (or such shorter period as shall be acceptable to each Rating Agency) prior notice thereof and (a) with respect to Standard & Poor’s, such Rating Agency has notified the Seller, the Servicer, the Trustee, the Owner Trustee and the Issuer in writing that such action will not result in a reduction or withdrawal of the then current rating of the Notes, and (b) with respect to Moody’s, such Rating Agency has not notified the Seller, the Servicer, the Trustee, the Owner Trustee or the Issuer in writing that such action will result in a reduction or withdrawal of the then current rating of the Notes.

Record Date” means, with respect to a Distribution Date or Redemption Date, the close of business on the Business Day immediately preceding such Distribution Date or Redemption Date.

Redemption Date” means in the case of a redemption of the Notes pursuant to Section 10.1(a) or a payment to Noteholders pursuant to Section 10.1(b), the Distribution Date specified by the Servicer or the Issuer pursuant to Section 10.1(a) or 10.1(b) as applicable.

Redemption Price” means (a) in the case of a redemption of the Notes pursuant to Section 10.1(a), an amount equal to the unpaid principal amount of the then outstanding principal amount of each class of Notes being redeemed plus accrued and unpaid interest thereon to but excluding the Redemption Date, or (b) in the case of a payment made to Noteholders pursuant to Section 10.1(b), the amount on deposit in the Note Distribution Account, but not in excess of the amount specified in clause (a) above.

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

Sale and Servicing Agreement” means the Sale and Servicing Agreement, dated as of February 2, 2010, among the Issuer, the Seller, the Servicer, the Trust Collateral Agent and the Backup Servicer, as the same may be amended or supplemented from time to time.

Similar Law” has the meaning specified in Section 2.4.

State” means any one of the 50 states of the United States of America or the District of Columbia.

Statutory Exemption” means the statutory exemption under Section 408(b)(17) of ERISA and Section 4975(d)(20) of the Code.

Termination Date” means the date on which the Trustee shall have received payment and performance of all Trustee Issuer Secured Obligations.

 

9


Trust Collateral Agent” means, initially, Wells Fargo Bank, National Association, in its capacity as collateral agent on behalf of the Issuer Secured Parties, including its successors-in-interest, until and unless a successor Person shall have become the Trust Collateral Agent pursuant to Section 6.17 hereof, and thereafter “Trust Collateral Agent” shall mean such successor Person.

Trust Estate” means all money, instruments, rights and other property that are subject or intended to be subject to the lien and security interest of this Indenture for the benefit of the Noteholders (including all property and interests Granted to the Trust Collateral Agent), including all proceeds thereof.

Trust Indenture Act” or “TIA” means the Trust Indenture Act of 1939, as amended and as in force on the date hereof, unless otherwise specifically provided.

Trustee” means Wells Fargo Bank, National Association, a national banking association, not in its individual capacity but as trustee under this Indenture, or any successor trustee under this Indenture.

Trustee Issuer Secured Obligations” means all amounts and obligations which the Issuer may at any time owe to or on behalf of the Trustee for the benefit of the Noteholders under this Indenture, the Notes or any Basic Document.

UCC” means, unless the context otherwise requires, the Uniform Commercial Code, as in effect in the relevant jurisdiction, as amended from time to time.

Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to them in the Sale and Servicing Agreement or the Trust Agreement.

SECTION 1.2 Incorporation by Reference of Trust Indenture Act. Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture have the following meanings:

Commission” means the Securities and Exchange Commission.

indenture securities” means the Notes.

indenture security holder” means a Noteholder.

indenture to be qualified” means this Indenture.

indenture trustee” or “institutional trustee” means the Trustee.

obligor” on the indenture securities means the Issuer.

All other TIA terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by Commission rule have the meaning assigned to them by such definitions.

 

10


SECTION 1.3 Rules of Construction. Unless the context otherwise requires:

(i) a term has the meaning assigned to it;

(ii) an accounting term not otherwise defined has the meaning assigned to it in accordance with generally accepted accounting principles as in effect from time to time;

(iii) “or” is not exclusive;

(iv) “including” means including without limitation; and

(v) words in the singular include the plural and words in the plural include the singular.

ARTICLE II

The Notes

SECTION 2.1 Form. The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes and the Class D Notes, in each case together with the Trustee’s certificate of authentication, shall be in substantially the form set forth in Exhibits A-1, A-2, A-3, B, C and D, respectively, with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may, consistently herewith, be determined by the officers executing such Notes, as evidenced by their execution of the Notes. Any portion of the text of any Note may be set forth on the reverse thereof, with an appropriate reference thereto on the face of the Note.

The Definitive Notes shall be typewritten, printed, lithographed or engraved or produced by any combination of these methods (with or without steel engraved borders), all as determined by the officers executing such Notes, as evidenced by their execution of such Notes.

Each Note shall be dated the date of its authentication. The terms of the Notes set forth in Exhibits A-1, A-2, A-3, B, C and D are part of the terms of this Indenture.

SECTION 2.2 Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile.

Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes.

The Trustee shall, upon receipt of the Issuer Order, authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $132,600,000, Class A-2 Notes for original issue in the aggregate principal amount of $147,540,000, Class A-3 Notes for original issue in an aggregate principal amount of $123,300,000, Class B Notes for original issue

 

11


in an aggregate principal amount of $75,864,000, Class C Notes for original issue in an aggregate principal amount of $79,308,000, and Class D Notes for original issue in an aggregate principal amount of $41,388,000. The Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class B Notes, Class C Notes and Class D Notes outstanding at any time may not exceed such amounts except as provided in Section 2.5.

The Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class B Notes, Class C Notes and Class D Notes shall be issuable as registered Notes in the minimum denomination of $1,000 and in integral multiples thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000).

No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Trustee by the manual signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

SECTION 2.3 Temporary Notes. Pending the preparation of Definitive Notes, the Issuer may execute, and upon receipt of an Issuer Order the Trustee shall authenticate and deliver, temporary Notes which are printed, lithographed, typewritten, mimeographed or otherwise produced, of the tenor of the Definitive Notes in lieu of which they are issued and with such variations not inconsistent with the terms of this Indenture as the officers executing such Notes may determine, as evidenced by their execution of such Notes.

If temporary Notes are issued, the Issuer will cause Definitive Notes to be prepared without unreasonable delay. After the preparation of Definitive Notes, the temporary Notes shall be exchangeable for Definitive Notes upon surrender of the temporary Notes at the office or agency of the Issuer to be maintained as provided in Section 3.2, without charge to the Noteholder. Upon surrender for cancellation of any one or more temporary Notes, the Issuer shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount of Definitive Notes of authorized denominations. Until so exchanged, the temporary Notes shall in all respects be entitled to the same benefits under this Indenture as Definitive Notes.

SECTION 2.4 Registration; Registration of Transfer and Exchange. The Issuer shall cause to be kept a register (the “Note Register”) in which, subject to such reasonable regulations as it may prescribe, the Issuer shall provide for the registration of Notes and the registration of transfers of Notes. The Trustee shall be “Note Registrar” for the purpose of registering Notes and transfers of Notes as herein provided. Upon any resignation of any Note Registrar, the Issuer shall promptly appoint a successor or, if it elects not to make such an appointment, assume the duties of Note Registrar.

If a Person other than the Trustee is appointed by the Issuer as Note Registrar, the Issuer will give the Trustee prompt written notice of the appointment of such Note Registrar and of the location, and any change in the location, of the Note Register, and the Trustee shall have the right to inspect the Note Register at all reasonable times and to obtain copies thereof, and the

 

12


Trustee shall have the right to conclusively rely upon a certificate executed on behalf of the Note Registrar by an Executive Officer thereof as to the names and addresses of the Noteholders of the Notes and the principal amounts and number of such Notes.

Subject to Sections 2.10 and 2.12 hereof, upon surrender for registration of transfer of any Note at the office or agency of the Issuer to be maintained as provided in Section 3.2, if the requirements of Section 8-401(1) of the UCC are met the Issuer shall execute and upon its request the Trustee shall authenticate and the Noteholder shall obtain from the Trustee, in the name of the designated transferee or transferees, one or more new Notes, in any authorized denominations, of the same class and a like aggregate principal amount.

At the option of the Noteholder, Notes may be exchanged for other Notes in any authorized denominations, of the same class and a like aggregate principal amount, upon surrender of the Notes to be exchanged at such office or agency. Whenever any Notes are so surrendered for exchange, subject to Sections 2.10 and 2.12 hereof, if the requirements of Section 8-401(1) of the UCC are met the Issuer shall execute and upon its request the Trustee shall authenticate and the Noteholder shall obtain from the Trustee, the Notes which the Noteholder making the exchange is entitled to receive.

All Notes issued upon any registration of transfer or exchange of Notes shall be the valid obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Notes surrendered upon such registration of transfer or exchange.

Every Note presented or surrendered for registration of transfer or exchange shall be (i) duly endorsed by, or be accompanied by a written instrument of transfer in the form attached to Exhibits A-1, A-2, A-3, B, C and D duly executed by, the Holder thereof or such Holder’s attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar which requirements include membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require.

Notwithstanding the foregoing, in the case of any sale or other transfer of a Definitive Note, the prospective transferee of such Definitive Note shall be required to represent and warrant in writing to the Note Registrar that either (a) it is not (i) an employee benefit plan (as defined in section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”)), which is subject to the provisions of Title I of ERISA, (ii) a plan (as defined in section 4975(e)(1) of the Code), which is subject to Section 4975 of the Code, (iii) an entity whose underlying assets are deemed to be assets of a plan described in (i) or (ii) above by reason of such plan’s investment in the entity or (iv) an employee benefit plan subject to any federal, state, local or non-U.S. laws or regulations substantially similar to Title I of ERISA or Section 4975 of the Code (“Similar Laws”) (any such entity described in clauses (i) through (iv), a “Benefit Plan Entity”) or (b) it is a Benefit Plan Entity and the acquisition and holding of the Definitive Note by such prospective transferee is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition and holding will not violate such Similar Law). Each transferee of a Book Entry Note that is a

 

13


Benefit Plan Entity shall be deemed to represent that its acquisition and holding of the Book Entry Note is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition and holding will not violate such Similar Law).

No service charge shall be made to a Noteholder for any registration of transfer or exchange of Notes, but the Note Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Notes, other than exchanges pursuant to Section 2.3 or 9.6 not involving any transfer.

The preceding provisions of this section notwithstanding, the Issuer shall not be required to make and the Note Registrar shall not register transfers or exchanges of Notes selected for redemption or of any Note for a period of 15 days preceding the due date for any payment with respect to the Note.

SECTION 2.5 Mutilated, Destroyed, Lost or Stolen Notes. If (i) any mutilated Note is surrendered to the Trustee, or the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Note, and (ii) there is delivered to the Trustee such security or indemnity as may be required by it to hold the Issuer and the Trustee harmless, then, in the absence of notice to the Issuer, the Note Registrar or the Trustee that such Note has been acquired by a bona fide purchaser, and provided that the requirements of Section 8-405 of the UCC are met, the Issuer shall execute and upon its request the Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Note, a replacement Note; provided, however, that if any such destroyed, lost or stolen Note, but not a mutilated Note, shall have become or within seven days shall be due and payable, or shall have been called for redemption, instead of issuing a replacement Note, the Issuer may direct the Trustee, in writing, to pay such destroyed, lost or stolen Note when so due or payable or upon the Redemption Date, without surrender thereof. If, after the delivery of such replacement Note or payment of a destroyed, lost or stolen Note pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Note in lieu of which such replacement Note was issued presents for payment such original Note, the Issuer and the Trustee shall be entitled to recover such replacement Note (or such payment) from the Person to whom it was delivered or any Person taking such replacement Note from such Person to whom such replacement Note was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Trustee in connection therewith.

Upon the issuance of any replacement Note under this Section, the Issuer may require the payment by the Holder of such Note of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Trustee) connected therewith.

Every replacement Note issued pursuant to this Section in replacement of any mutilated, destroyed, lost or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Note shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Notes duly issued hereunder.

 

14


The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes.

SECTION 2.6 Persons Deemed Owner. Prior to due presentment for registration of transfer of any Note, the Issuer, the Trustee and any agent of the Issuer or the Trustee may treat the Person in whose name any Note is registered (as of the Record Date) as the owner of such Note for the purpose of receiving payments of principal of and interest, if any on such Note and for all other purposes whatsoever, whether or not such Note be overdue, and none of the Issuer, the Trustee nor any agent of the Issuer or the Trustee shall be affected by notice to the contrary.

SECTION 2.7 Payment of Principal and Interest; Defaulted Interest.

(a) The Notes shall accrue interest as provided in the forms of the Class A-1 Note, the Class A-2 Note, the Class A-3 Note, the Class B Note, the Class C Note and the Class D Note set forth in Exhibits A-1, A-2, A-3, B, C and D, respectively, and such interest shall be due and payable on each Distribution Date, as specified therein. Any installment of interest or principal, if any, payable on any Note which is punctually paid or duly provided for by the Issuer on the applicable Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date, by check mailed first-class, postage prepaid, to such Person’s address as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payment will be made by wire transfer in immediately available funds to the account designated by such nominee and except for the final installment of principal payable with respect to such Note on a Distribution Date or on the Final Scheduled Distribution Date (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.1(a)) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.3.

(b) The principal of each Note shall be payable in installments on each Distribution Date as provided in the forms of the Class A-1 Note, the Class A-2 Note, the Class A-3 Note, the Class B Note, the Class C Note and the Class D Note, set forth in Exhibits A-1, A-2, A-3, B, C and D, respectively. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable, if not previously paid, on the date on which an Event of Default shall have occurred and be continuing, if the Trustee or the Majority Noteholders have declared the Notes to be immediately due and payable in the manner provided in Section 5.2. All principal payments on each class of Notes shall be made pro rata to the Noteholders of such class entitled thereto. Upon written notice from the Issuer, the Trustee shall notify the Person in whose name a Note is registered at the close of business on the Record Date preceding the Distribution Date on which the Issuer expects that the final installment of principal of and interest on such Note will be paid. Such notice shall be mailed

 

15


or transmitted by facsimile prior to such final Distribution Date and shall specify that such final installment will be payable only upon presentation and surrender of such Note and shall specify the place where such Note may be presented and surrendered for payment of such installment. Notices in connection with redemptions of Notes shall be mailed to Noteholders as provided in Section 10.2.

(c) If the Issuer defaults in a payment of interest on the Notes, and such default is waived by the Controlling Party, acting at the direction of the Majority Noteholders, the Issuer shall pay defaulted interest (plus interest on such defaulted interest to the extent lawful) at the applicable Interest Rate in any lawful manner. The Issuer may pay such defaulted interest to the Persons who are Noteholders on the immediately following Distribution Date, and, if such amount is not paid on such following Distribution Date, then on a subsequent special record date, which date shall be at least five Business Days prior to the payment date. The Issuer shall fix or cause to be fixed any such special record date and payment date, and, at least 15 days before any such special record date, the Issuer shall mail to each Noteholder and the Trustee a notice that states the special record date, the payment date and the amount of defaulted interest to be paid.

SECTION 2.8 Cancellation. All Notes surrendered for payment, registration of transfer, exchange or redemption shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly canceled by the Trustee. The Issuer may at any time deliver to the Trustee for cancellation any Notes previously authenticated and delivered hereunder which the Issuer may have acquired in any manner whatsoever, and all Notes so delivered shall be promptly canceled by the Trustee. No Notes shall be authenticated in lieu of or in exchange for any Notes canceled as provided in this Section, except as expressly permitted by this Indenture. All canceled Notes may be held or disposed of by the Trustee in accordance with its standard retention or disposal policy as in effect at the time unless the Issuer shall timely direct by an Issuer Order that they be destroyed or returned to it; provided that such Issuer Order is timely and the Notes have not been previously disposed of by the Trustee.

SECTION 2.9 Release of Collateral. The Trust Collateral Agent shall, on the earlier of (i) the Termination Date or (ii) the Redemption Date (if the Notes are redeemed in full on such date), release any remaining portion of the Trust Estate from the lien created by this Indenture and deposit in the Collection Account any funds then on deposit in any other Trust Account.

SECTION 2.10 Book-Entry Notes. The Class A Notes, Class B Notes, Class C Notes and Class D Notes, upon original issuance, will be issued in the form of typewritten Notes representing the Book-Entry Notes, to be delivered to The Depository Trust Company, the initial Clearing Agency, by, or on behalf of, the Issuer. Such Notes shall initially be registered on the Note Register in the name of Cede & Co., the nominee of the initial Clearing Agency, and no Note Owner will receive a Definitive Note representing such Note Owner’s interest in such Note, except as provided in Section 2.12. Unless and until definitive, fully registered Notes (the “Definitive Notes”) have been issued to Note Owners pursuant to Section 2.12:

(i) the provisions of this Section shall be in full force and effect;

 

16


(ii) the Note Registrar and the Trustee shall be entitled to deal with the Clearing Agency for all purposes of this Indenture (including the payment of principal of and interest on the Notes and the giving of instructions or directions hereunder) as the sole Holder of the Notes, and shall have no obligation to the Note Owners;

(iii) to the extent that the provisions of this Section conflict with any other provisions of this Indenture, the provisions of this Section shall control;

(iv) the rights of Note Owners shall be exercised only through the Clearing Agency and shall be limited to those established by law and agreements between such Note Owners and the Clearing Agency and/or the Clearing Agency Participants. Unless and until Definitive Notes are issued pursuant to Section 2.12, the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit payments of principal of and interest on the Notes to such Clearing Agency Participants;

(v) whenever this Indenture requires or permits actions to be taken based upon instructions or directions of Noteholders evidencing a specified percentage of the Outstanding Amount of the Notes, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such effect from Note Owners and/or Clearing Agency Participants owning or representing, respectively, such required percentage of the beneficial interest in the Notes and has delivered such instructions to the Trustee; and

(vi) Note Owners may receive copies of any reports sent to Noteholders pursuant to this Indenture, upon written request, together with a certification that they are Note Owners and payment of reproduction and postage expenses associated with the distribution of such reports, from the Trustee at the Corporate Trust Office.

SECTION 2.11 Notices to Clearing Agency. Whenever a notice or other communication to the Noteholders is required under this Indenture, unless and until Definitive Notes shall have been issued to Note Owners pursuant to Section 2.12, the Trustee shall give all such notices and communications specified herein to be given to the Noteholders to the Clearing Agency, and shall have no obligation to the Note Owners.

SECTION 2.12 Definitive Notes. If (i) the Servicer advises the Trustee in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Notes, and the Servicer is unable to locate a qualified successor or (ii) after the occurrence of an Event of Default, the Majority Noteholders advise the Trustee through the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interests of the Note Owners, then the Clearing Agency shall notify all Note Owners and the Trustee of the occurrence of any such event and of the availability of Definitive Notes to Note Owners requesting the same. Upon surrender to the Trustee of the typewritten Note or Notes representing the Book-Entry Notes by the Clearing Agency, accompanied by registration instructions, the Issuer shall execute and the Trustee shall authenticate the Definitive Notes in accordance with the instructions of the Clearing Agency. None of the Issuer, the Note Registrar or the Trustee shall be liable for any

 

17


delay in delivery of such instructions and may conclusively rely on, and shall be fully protected in relying on, such instructions. Upon the issuance of Definitive Notes, the Trustee shall recognize the Holders of the Definitive Notes as Noteholders.

ARTICLE III

Covenants

SECTION 3.1 Payment of Principal and Interest. The Issuer will duly and punctually pay the principal of and interest on the Notes in accordance with the terms of the Notes and this Indenture. Without limiting the foregoing, the Issuer will cause to be distributed all amounts on deposit in the Note Distribution Account on a Distribution Date deposited therein pursuant to the Sale and Servicing Agreement (i) for the benefit of the Class A-l Notes, to Class A-1 Noteholders, (ii) for the benefit of the Class A-2 Notes, to Class A-2 Noteholders, (iii) for the benefit of the Class A-3 Notes, to Class A-3 Noteholders, (iv) for the benefit of the Class B Notes, to the Class B Noteholders, (v) for the benefit of the Class C Notes, to the Class C Noteholders, and (vi) for the benefit of the Class D Notes, to the Class D Noteholders. Amounts properly withheld under the Code by any Person from a payment to any Noteholder of interest and/or principal shall be considered as having been paid by the Issuer to such Noteholder for all purposes of this Indenture.

SECTION 3.2 Maintenance of Office or Agency. The Issuer will maintain in New York, New York, an office or agency where Notes may be surrendered for registration of transfer or exchange, and where notices and demands to or upon the Issuer in respect of the Notes and this Indenture may be served. The Issuer hereby initially appoints the Trustee to serve as its agent for the foregoing purposes. The Issuer will give prompt written notice to the Trustee of the location, and of any change in the location, of any such office or agency. If at any time the Issuer shall fail to maintain any such office or agency or shall fail to furnish the Trustee with the address thereof, such surrenders, notices and demands may be made or served at the Corporate Trust Office, and the Issuer hereby appoints the Trustee as its agent to receive all such surrenders, notices and demands.

SECTION 3.3 Money for Payments to be Held in Trust. On or before each Distribution Date and Redemption Date, the Issuer shall deposit or cause to be deposited in the Note Distribution Account from the Collection Account an aggregate sum sufficient to pay the amounts then becoming due under the Notes, such sum to be held in trust for the benefit of the Persons entitled thereto and (unless the Note Paying Agent is the Trustee) shall promptly notify the Trustee of its action or failure so to act.

The Issuer will cause each Note Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Note Paying Agent shall agree with the Trustee (and if the Trustee acts as Note Paying Agent, it hereby so agrees), subject to the provisions of this Section, that such Note Paying Agent will:

(i) hold all sums held by it for the payment of amounts due with respect to the Notes in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided and pay such sums to such Persons as herein provided;

 

18


(ii) give the Trustee notice of any default by the Issuer (or any other obligor upon the Notes) of which it has actual knowledge in the making of any payment required to be made with respect to the Notes;

(iii) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Note Paying Agent;

(iv) immediately resign as a Note Paying Agent and forthwith pay to the Trustee all sums held by it in trust for the payment of Notes if at any time it ceases to meet the standards required to be met by a Note Paying Agent at the time of its appointment; and

(v) comply with all requirements of the Code with respect to the withholding from any payments made by it on any Notes of any applicable withholding taxes imposed thereon and with respect to any applicable reporting requirements in connection therewith.

The Issuer may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, by Issuer Order direct any Note Paying Agent to pay to the Trustee all sums held in trust by such Note Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which the sums were held by such Note Paying Agent; and upon such a payment by any Note Paying Agent to the Trustee, such Note Paying Agent shall be released from all further liability with respect to such money.

Subject to applicable laws with respect to the escheat of funds, any money held by the Trustee or any Note Paying Agent in trust for the payment of any amount due with respect to any Note and remaining unclaimed for two years after such amount has become due and payable shall be discharged from such trust and be paid to the Issuer on Issuer Request and shall be deposited by the Trustee in the Collection Account; and the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Issuer for payment thereof (but only to the extent of the amounts so paid to the Issuer), and all liability of the Trustee or such Note Paying Agent with respect to such trust money shall thereupon cease; provided, however, that the Trustee or such Note Paying Agent, before being required to make any such repayment, shall at the expense of the Issuer cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in New York, New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Issuer. The Trustee shall also adopt and employ, at the expense of the Issuer, any other reasonable means of notification of such repayment (including, but not limited to, mailing notice of such repayment to Holders whose Notes have been called but have not been surrendered for redemption or whose right to or interest in moneys due and payable but not claimed is determinable from the records of the Trustee or of any Note Paying Agent, at the last address of record for each such Holder).

 

19


SECTION 3.4 Existence. Except as otherwise permitted by the provisions of Section 3.10, the Issuer will keep in full effect its existence, rights and franchises as a statutory trust under the laws of the State of Delaware (unless it becomes, or any successor Issuer hereunder is or becomes, organized under the laws of any other state or of the United States of America, in which case the Issuer will keep in full effect its existence, rights and franchises under the laws of such other jurisdiction) and will obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Indenture, the Notes, the Collateral and each other instrument or agreement included in the Trust Estate.

SECTION 3.5 Protection of Trust Estate. The Issuer intends the security interest Granted pursuant to this Indenture in favor of the Issuer Secured Parties to be prior to all other liens in respect of the Trust Estate, and the Issuer shall take all actions necessary to obtain and maintain, in favor of the Trust Collateral Agent, for the benefit of the Issuer Secured Parties, a first lien on and a first priority, perfected security interest in the Trust Estate. The Issuer will from time to time prepare (or shall cause to be prepared), execute and deliver all such supplements and amendments hereto and all such financing statements, continuation statements, instruments of further assurance and other instruments, and will take such other action necessary or advisable to:

(i) Grant more effectively all or any portion of the Trust Estate;

(ii) maintain or preserve the lien and security interest (and the priority thereof) in favor of the Trust Collateral Agent for the benefit of the Issuer Secured Parties created by this Indenture or carry out more effectively the purposes hereof;

(iii) perfect, publish notice of or protect the validity of any Grant made or to be made by this Indenture;

(iv) enforce any of the Collateral;

(v) preserve and defend title to the Trust Estate and the rights of the Trust Collateral Agent in such Trust Estate against the claims of all persons and parties; and

(vi) pay all taxes or assessments levied or assessed upon the Trust Estate when due.

The Issuer hereby designates the Trust Collateral Agent its agent and attorney-in-fact to execute any financing statement, continuation statement or other instrument required by the Trust Collateral Agent pursuant to this Section.

SECTION 3.6 Opinions as to Trust Estate.

(a) On the Closing Date, the Issuer shall furnish to the Trustee and the Trust Collateral Agent an Opinion of Counsel either stating that, in the opinion of such counsel, such action has been taken with respect to the recording and filing of this Indenture, any indentures supplemental hereto, and any other requisite documents, and with respect to the execution and filing of any financing statements and continuation statements, as are necessary

 

20


to perfect and make effective the first priority lien and security interest in favor of the Trust Collateral Agent, for the benefit of the Issuer Secured Parties, created by this Indenture and reciting the details of such action, or stating that, in the opinion of such counsel, no such action is necessary to make such lien and security interest effective.

(b) Within 120 days after the beginning of each calendar year, beginning with the first calendar year beginning more than six months after the Closing Date, the Issuer shall furnish to the Trustee, Trust Collateral Agent and the Backup Servicer an Opinion of Counsel either stating that, in the opinion of such counsel, such action has been taken with respect to the recording, filing, re-recording and refiling of this Indenture, any indentures supplemental hereto and any other requisite documents and with respect to the execution and filing of any financing statements and continuation statements as are necessary to maintain the lien and security interest created by this Indenture and reciting the details of such action or stating that in the opinion of such counsel no such action is necessary to maintain such lien and security interest. Such Opinion of Counsel shall also describe the recording, filing, re-recording and refiling of this Indenture, any indentures supplemental hereto and any other requisite documents and the execution and filing of any financing statements and continuation statements that will, in the opinion of such counsel, be required to maintain the lien and security interest of this Indenture until January 31 in the following calendar year.

SECTION 3.7 Performance of Obligations; Servicing of Receivables.

(a) The Issuer will not take any action and will use its best efforts not to permit any action to be taken by others that would release any Person from any of such Person’s material covenants or obligations under any instrument or agreement included in the Trust Estate or that would result in the amendment, hypothecation, subordination, termination or discharge of, or impair the validity or effectiveness of, any such instrument or agreement, except as ordered by any bankruptcy or other court or as expressly provided in this Indenture, the Basic Documents or such other instrument or agreement.

(b) The Issuer may contract with other Persons to assist it in performing its duties under this Indenture, and any performance of such duties by a Person identified to the Trustee in an Officer’s Certificate of the Issuer shall be deemed to be action taken by the Issuer. Initially, the Issuer has contracted with the Servicer to assist the Issuer in performing its duties under this Indenture.

(c) The Issuer will punctually perform and observe all of its obligations and agreements contained in this Indenture, the Basic Documents and in the instruments and agreements included in the Trust Estate, including, but not limited to, preparing (or causing to prepared) and filing (or causing to be filed) all UCC financing statements and continuation statements required to be filed by the terms of this Indenture and the Sale and Servicing Agreement in accordance with and within the time periods provided for herein and therein. Except as otherwise expressly provided therein, the Issuer shall not waive, amend, modify, supplement or terminate any Basic Document or any provision thereof without the consent of the Trustee or the Majority Noteholders.

 

21


(d) If a responsible officer of the Owner Trustee shall have actual knowledge of the occurrence of a Servicer Termination Event under the Sale and Servicing Agreement, the Issuer shall promptly notify the Trustee and the Rating Agencies thereof in accordance with Section 11.4, and shall specify in such notice the action, if any, the Issuer is taking in respect of such default. If a Servicer Termination Event shall arise from the failure of the Servicer to perform any of its duties or obligations under the Sale and Servicing Agreement with respect to the Receivables, the Issuer shall take all reasonable steps available to it to remedy such failure.

(e) The Issuer agrees that it will not waive timely performance or observance by the Servicer, AmeriCredit or the Seller of their respective duties under the Basic Documents if the effect thereof would adversely affect the Holders of the Notes.

SECTION 3.8 Negative Covenants. So long as any Notes are Outstanding, the Issuer shall not:

(i) except as expressly permitted by this Indenture or the Basic Documents, sell, transfer, exchange or otherwise dispose of any of the properties or assets of the Issuer, including those included in the Trust Estate, unless directed to do so by the Controlling Party;

(ii) claim any credit on, or make any deduction from the principal or interest payable in respect of, the Notes (other than amounts properly withheld from such payments under the Code) or assert any claim against any present or former Noteholder by reason of the payment of the taxes levied or assessed upon any part of the Trust Estate; or

(iii) (A) permit the validity or effectiveness of this Indenture to be impaired, or permit the lien in favor of the Trust Collateral Agent created by this Indenture to be amended, hypothecated, subordinated, terminated or discharged, or permit any Person to be released from any covenants or obligations with respect to the Notes under this Indenture except as may be expressly permitted hereby, (B) permit any lien, charge, excise, claim, security interest, mortgage or other encumbrance (other than the lien of this Indenture) to be created on or extend to or otherwise arise upon or burden the Trust Estate or any part thereof or any interest therein or the proceeds thereof (other than tax liens, mechanics’ liens and other liens that arise by operation of law, in each case on a Financed Vehicle and arising solely as a result of an action or omission of the related Obligor), (C) permit the lien of this Indenture not to constitute a valid first priority (other than with respect to any such tax, mechanics’ or other lien) security interest in the Trust Estate or (D) amend, modify or fail to comply with the provisions of the Basic Documents without the prior written consent of the Controlling Party.

SECTION 3.9 Annual Statement as to Compliance. The Issuer will deliver to the Trustee and the Trust Collateral Agent, within 120 days after the end of each fiscal year of the Issuer (commencing with the fiscal year ended December 31, 2010), and otherwise in compliance with the requirements of TIA Section 314(a)(4) an Officer’s Certificate stating, as to the Authorized Officer signing such Officer’s Certificate, that

 

22


(i) a review of the activities of the Issuer during such year and of performance under this Indenture has been made under such Authorized Officer’s supervision; and

(ii) to the best of such Authorized Officer’s knowledge, based on such review, the Issuer has complied with all conditions and covenants under this Indenture and the other Basic Documents throughout such year, or, if there has been a default in the compliance of any such condition or covenant, specifying each such default known to such Authorized Officer and the nature and status thereof.

SECTION 3.10 Issuer May Consolidate, Etc. Only on Certain Terms.

(a) The Issuer shall not consolidate or merge with or into any other Person, unless

(i) the Person (if other than the Issuer) formed by or surviving such consolidation or merger shall be a Person organized and existing under the laws of the United States of America or any state and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of and interest on all Notes and the performance or observance of every agreement and covenant of this Indenture on the part of the Issuer to be performed or observed, all as provided herein;

(ii) immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing;

(iii) the Rating Agency Condition shall have been satisfied with respect to such transaction;

(iv) the Issuer shall have received an Opinion of Counsel (and shall have delivered copies thereof to the Trustee) to the effect that such transaction will not for federal income tax purposes cause the Issuer to be treated as an association (or publicly traded partnership) taxable as a corporation, create a reissuance of the Notes or cause the Notes that were characterized as debt at the time of their issuance to fail to qualify as debt;

(v) any action as is necessary to maintain the lien and security interest created by this Indenture shall have been taken;

(vi) the Issuer shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel each stating that such consolidation or merger and such supplemental indenture comply with this Article III and that all conditions precedent herein provided for relating to such transaction have been complied with (including any filing required by the Exchange Act); and

(vii) the Issuer or the Person (if other than the Issuer) formed by or surviving such consolidation or merger has a net worth, immediately after such consolidation or merger, that is (a) greater than zero and (b) not less than the net worth of the Issuer immediately prior to giving effect to such consolidation or merger.

 

23


(b) The Issuer shall not convey or transfer all or substantially all of its properties or assets, including those included in the Trust Estate, to any Person, unless

(i) the Person that acquires by conveyance or transfer the properties and assets of the Issuer the conveyance or transfer of which is hereby restricted shall (A) be a United States citizen or a Person organized and existing under the laws of the United States of America or any state, (B) expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of and interest on all Notes and the performance or observance of every agreement and covenant of this Indenture and each of the Basic Documents on the part of the Issuer to be performed or observed, all as provided herein, (C) expressly agree by means of such supplemental indenture that all right, title and interest so conveyed or transferred shall be subject and subordinate to the rights of Holders of the Notes, (D) unless otherwise provided in such supplemental indenture, expressly agree to indemnify, defend and hold harmless the Issuer against and from any loss, liability or expense arising under or related to this Indenture and the Notes and (E) expressly agree by means of such supplemental indenture that such Person (or if a group of persons, then one specified Person) shall prepare (or cause to be prepared) and make all filings with the Commission (and any other appropriate Person) required by the Exchange Act in connection with the Notes;

(ii) immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing;

(iii) the Rating Agency Condition shall have been satisfied with respect to such transaction;

(iv) the Issuer shall have received an Opinion of Counsel (and shall have delivered copies thereof to the Trustee) to the effect that such transaction will not for federal income tax purposes cause the Issuer to be treated as an association (or publicly traded partnership) taxable as a corporation, create a reissuance of the Notes or cause the Notes that were characterized as debt at the time of their issuance to fail to qualify as debt;

(v) any action as is necessary to maintain the lien and security interest created by this Indenture shall have been taken;

(vi) the Issuer shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel each stating that such conveyance or transfer and such supplemental indenture comply with this Article III and that all conditions precedent herein provided for relating to such transaction have been complied with (including any filing required by the Exchange Act); and

(vii) the Issuer or the Person (if other than the Issuer) formed by or surviving such conveyance or transfer has a net worth, immediately after such conveyance or transfer, that is (a) greater than zero and (b) not less than the net worth of the Issuer immediately prior to giving effect to such conveyance or transfer.

 

24


SECTION 3.11 Successor or Transferee.

(a) Upon any consolidation or merger of the Issuer in accordance with Section 3.10(a), the Person formed by or surviving such consolidation or merger (if other than the Issuer) shall succeed to, and be substituted for, and may exercise every right and power of, the Issuer under this Indenture with the same effect as if such Person had been named as the Issuer herein.

(b) Upon a conveyance or transfer of all the assets and properties of the Issuer pursuant to Section 3.10 (b), AmeriCredit Automobile Receivables Trust 2010-1 will be released from every covenant and agreement of this Indenture to be observed or performed on the part of the Issuer with respect to the Notes immediately upon the delivery of written notice to the Trustee stating that AmeriCredit Automobile Receivables Trust 2010-1 is to be so released.

SECTION 3.12 No Other Business. The Issuer shall not engage in any business other than financing, purchasing, owning, selling and managing the Receivables in the manner contemplated by this Indenture and the Basic Documents and activities incidental thereto.

SECTION 3.13 No Borrowing. The Issuer shall not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any Indebtedness except for (i) the Notes and (ii) any other Indebtedness permitted by or arising under the Basic Documents. The proceeds of the Notes shall be used exclusively to fund the Issuer’s purchase of the Receivables and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account and to pay the Issuer’s organizational, transactional and start-up expenses.

SECTION 3.14 Servicer’s Obligations. The Issuer shall cause the Servicer to comply with Sections 4.9, 4.10 and 4.11 of the Sale and Servicing Agreement.

SECTION 3.15 Guarantees, Loans, Advances and Other Liabilities. Except as contemplated by the Sale and Servicing Agreement or this Indenture, the Issuer shall not make any loan or advance or credit to, or guarantee (directly or indirectly or by an instrument having the effect of assuring another’s payment or performance on any obligation or capability of so doing or otherwise), endorse or otherwise become contingently liable, directly or indirectly, in connection with the obligations, stocks or dividends of, or own, purchase, repurchase or acquire (or agree contingently to do so) any stock, obligations, assets or securities of, or any other interest in, or make any capital contribution to, any other Person.

SECTION 3.16 Capital Expenditures. The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).

SECTION 3.17 Compliance with Laws. The Issuer shall comply with the requirements of all applicable laws, the non-compliance with which would, individually or in the

aggregate, materially and adversely affect the ability of the Issuer to perform its obligations under the Notes, this Indenture or any Basic Document.

 

25


SECTION 3.18 Restricted Payments. The Issuer shall not, directly or indirectly, (i) pay any dividend or make any distribution (by reduction of capital or otherwise), whether in cash, property, securities or a combination thereof, to the Owner Trustee or any owner of a beneficial interest in the Issuer or otherwise with respect to any ownership or equity interest or security in or of the Issuer or to the Servicer, (ii) redeem, purchase, retire or otherwise acquire for value any such ownership or equity interest or security or (iii) set aside or otherwise segregate any amounts for any such purpose; provided, however, that the Issuer may make, or cause to be made, distributions to the Servicer, the Owner Trustee, the Trustee and the Certificateholders as permitted by, and to the extent funds are available for such purpose under, the Sale and Servicing Agreement or Trust Agreement. The Issuer will not, directly or indirectly, make payments to or distributions from the Collection Account except in accordance with this Indenture and the Basic Documents.

SECTION 3.19 Notice of Events of Default. Upon a responsible officer of the Owner Trustee having actual knowledge thereof, the Issuer agrees to give the Trustee and the Rating Agencies prompt written notice of each Event of Default hereunder and each default on the part of the Servicer or the Seller of its obligations under the Sale and Servicing Agreement.

SECTION 3.20 Further Instruments and Acts. Upon request of the Trustee, the Issuer will execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture.

SECTION 3.21 Amendments of Sale and Servicing Agreement and Trust Agreement. The Issuer shall not agree to any amendment to Section 12.1 of the Sale and Servicing Agreement or Section 10.1 of the Trust Agreement to eliminate the requirements thereunder that the Trustee or the Holders of the Notes consent to amendments thereto as provided therein.

SECTION 3.22 Income Tax Characterization. For purposes of federal income, state and local income and franchise and any other income taxes, the Issuer will treat the Notes that are owned or beneficially owned by a Person other than the Seller or its Affiliates as indebtedness and hereby instructs the Trustee, and each Noteholder (or beneficial Note Owner) shall be deemed, by virtue of acquisition of an interest in such Note, to have agreed, to treat the Notes as indebtedness for all applicable tax reporting purposes.

ARTICLE IV

Satisfaction and Discharge

SECTION 4.1 Satisfaction and Discharge of Indenture. This Indenture shall cease to be of further effect with respect to the Notes except as to (i) rights of registration of transfer and exchange, (ii) substitution of mutilated, destroyed, lost or stolen Notes, (iii) rights of Noteholders to receive payments of principal thereof and interest thereon, (iv) Sections 3.3, 3.4, 3.5, 3.8, 3.10, 3.12, 3.13, 3.20, 3.21 and 3.22, (v) the rights, obligations and immunities of the

 

26


Trustee hereunder (including the rights of the Trustee under Section 6.7 and the obligations of the Trustee under Section 4.2) and (vi) the rights of Noteholders as beneficiaries hereof with respect to the property so deposited with the Trustee payable to all or any of them, and the Trustee, on demand of and at the expense of the Issuer, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture with respect to the Notes, when

(A) either

(1) all Notes theretofore authenticated and delivered (other than (i) Notes that have been destroyed, lost or stolen and that have been replaced or paid as provided in Section 2.5 and (ii) Notes for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuer and thereafter repaid to the Issuer or discharged from such trust, as provided in Section 3.3) have been delivered to the Trustee for cancellation; or

(2) all Notes not theretofore delivered to the Trustee for cancellation

(i) have become due and payable,

(ii) will become due and payable at their respective Final Scheduled Distribution Dates within one year, or

(iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuer,

and the Issuer, in the case of (i), (ii) or (iii) above, has irrevocably deposited or caused to be irrevocably deposited with the Trust Collateral Agent cash or direct obligations of or obligations guaranteed by the United States of America (which will mature prior to the date such amounts are payable), in trust for such purpose, in an amount sufficient to pay and discharge the entire indebtedness on such Notes not theretofore delivered to the Trustee for cancellation when due to the Final Scheduled Distribution Date or Redemption Date (if Notes shall have been called for redemption pursuant to Section 10.1(a)) as the case may be; and

(B) the Issuer has paid or caused to be paid all Trustee Issuer Secured Obligations.

(C) the Issuer has delivered to the Trustee and the Trust Collateral Agent an Officer’s Certificate, an Opinion of Counsel and if required by the TIA, the Trustee or the Trust Collateral Agent an Independent Certificate from a firm of certified public accountants, each meeting the applicable requirements of Section 11.1(a) and each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. If the Indenture has been satisfied and discharged in accordance with the provisions of Section 4.1(A)(2) then such Opinion of Counsel shall also include an opinion that amounts deposited by the Issuer in accordance with Section 4.1(A)(2) would not be characterized as a voidable preference.

 

27


SECTION 4.2 Application of Trust Money. All moneys deposited with the Trustee pursuant to Section 4.1 hereof shall be held in trust and applied by it, in accordance with the provisions of the Notes, this Indenture and the other Basic Documents, to the payment, either directly or through any Note Paying Agent, as the Trustee may determine, to the Holders of the particular Notes for the payment or redemption of which such moneys have been deposited with the Trustee, of all sums due and to become due thereon for principal and interest; but such moneys need not be segregated from other funds except to the extent required herein or in the Sale and Servicing Agreement or required by law.

SECTION 4.3 Repayment of Moneys Held by Note Paying Agent. In connection with the satisfaction and discharge of this Indenture with respect to the Notes, all moneys then held by any Note Paying Agent other than the Trustee under the provisions of this Indenture with respect to such Notes shall, upon demand of the Issuer, be paid to the Trustee to be held and applied according to Section 3.3 and thereupon such Note Paying Agent shall be released from all further liability with respect to such moneys.

ARTICLE V

Remedies

SECTION 5.1 Events of Default. “Event of Default,” wherever used herein, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body):

(i) default in the payment of any interest outstanding when it becomes due and payable on (i) the Class A Notes, (ii) if no Class A Notes are outstanding, the Class B Notes, (iii) if no Class A Notes or Class B Notes are outstanding, the Class C Notes or (iv) if no Class A Notes, Class B Notes or Class C Notes are outstanding, the Class D Notes, and such default, in each case, shall continue for a period of five days; or

(ii) default in the payment of the Outstanding Amount of any Note on the applicable Final Scheduled Distribution Date; or

(iii) default in the observance or performance of any covenant or agreement of the Issuer made in this Indenture (other than a covenant or agreement, a default in the observance or performance of which is elsewhere in this Section specifically dealt with), or any representation or warranty of the Issuer made in this Indenture, in any Basic Document or in any certificate or any other writing delivered pursuant hereto or in connection herewith proving to have been incorrect in any material respect as of the time when the same shall have been made, and such default shall continue or not be cured, or the circumstance or condition in respect of which such misrepresentation or warranty was

 

28


incorrect shall not have been eliminated or otherwise cured, for a period of 30 days (or for such longer period, not in excess of 90 days, as may be reasonably necessary to remedy such default; provided that such default is capable of remedy within 90 days or less and the Servicer on behalf of the Owner Trustee delivers an Officer’s Certificate to the Trustee to the effect that such default is capable of remedy within 90 days or less and that the Issuer has commenced, or will promptly commence and diligently pursue, all reasonable efforts to remedy such default) after there shall have been given, by registered or certified mail, to the Issuer by the Trustee or to the Issuer and the Trustee by the Holders of at least 25% of the Outstanding Amount of the Notes, a written notice specifying such default or incorrect representation or warranty and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or

(iv) the filing of a decree or order for relief by a court having jurisdiction in the premises in respect of the Issuer or any substantial part of the Trust Estate in an involuntary case under any applicable federal or State bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Issuer or for any substantial part of the Trust Estate, or ordering the winding-up or liquidation of the Issuer’s affairs, and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or

(v) the commencement by the Issuer of a voluntary case under any applicable federal or State bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by the Issuer to the entry of an order for relief in an involuntary case under any such law, or the consent by the Issuer to the appointment or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Issuer or for any substantial part of the Trust Estate, or the making by the Issuer of any general assignment for the benefit of creditors, or the failure by the Issuer generally to pay its debts as such debts become due, or the taking of action by the Issuer in furtherance of any of the foregoing; or

(vi) the Issuer becoming taxable as an association or a publicly traded partnership taxable as a corporation for federal or state income tax purposes.

The Issuer shall deliver to the Trustee, within five days after the occurrence thereof, written notice in the form of an Officer’s Certificate of any event which with the giving of notice and the lapse of time would become an Event of Default under clause (iii), its status and what action the Issuer is taking or proposes to take with respect thereto.

SECTION 5.2 Rights Upon Event of Default.

(a) If an Event of Default shall have occurred and be continuing, the Trustee in its discretion may, or if so requested in writing by the Majority Noteholders shall, declare by written notice to the Issuer that the Notes become, whereupon they shall become, immediately due and payable at par, together with accrued interest thereon.

 

29


(b) At any time after such declaration of acceleration of maturity has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article V provided, the Majority Noteholders, by written notice to the Issuer and the Trustee, may rescind and annul such declaration and its consequences if:

(i) the Issuer has paid or deposited with the Trustee a sum sufficient to pay:

(A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such Notes if the Event of Default giving rise to such acceleration had not occurred; and

(B) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee and its agents and counsel; and

(ii) all Events of Default, other than the nonpayment of the principal of the Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.13.

No such rescission shall affect any subsequent default or impair any right consequent thereto.

SECTION 5.3 Collection of Indebtedness and Suits for Enforcement by Trustee.

(a) The Issuer covenants that if (i) default is made in the payment of any interest on any Note when the same becomes due and payable, and such default continues for a period of five days, or (ii) default is made in the payment of the principal of or any installment of the principal of any Note when the same becomes due and payable, the Issuer will pay to the Trustee, for the benefit of the Holders of the Notes, the whole amount then due and payable on such Notes for principal and interest, with interest upon the overdue principal, and, to the extent payment at such rate of interest shall be legally enforceable, upon overdue installments of interest, at the applicable Interest Rate and in addition thereto such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee and its agents and counsel.

(b) Each Issuer Secured Party hereby irrevocably and unconditionally appoints the Controlling Party as the true and lawful attorney-in-fact of such Issuer Secured Party for so long as such Issuer Secured Party is not the Controlling Party, with full power of substitution, to execute, acknowledge and deliver any notice, document, certificate, paper, pleading or instrument and to do in the name of the Controlling Party as well as in the name, place and stead of such Issuer Secured Party such acts, things and deeds for or on behalf of and in the name of such Issuer Secured Party under this Indenture (including specifically under Section 5.4) and under the Basic Documents which such Issuer Secured Party could or might do or which may be necessary, desirable or convenient in such Controlling Party’s sole discretion to effect the purposes contemplated hereunder and under the Basic Documents and, without limitation, following the occurrence of an Event of Default, exercise full right, power and authority to take, or defer from taking, any and all acts with respect to the administration, maintenance or disposition of the Trust Estate.

 

30


(c) If an Event of Default occurs and is continuing, the Trustee may in its discretion, as more particularly provided in Section 5.4, and shall, at the direction of the Majority Noteholders, proceed to protect and enforce its rights and the rights of the Noteholders by such appropriate Proceedings as the Trustee or the Trustee at the direction of such Majority Noteholders shall deem most effective to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy or legal or equitable right vested in the Trustee by this Indenture or by law.

(d) Notwithstanding anything to the contrary contained in this Indenture (including, without limitation, Sections 5.4(a), 5.12, 5.13 and 5.17), if the Issuer fails to perform its obligations under Section 10.1(b) hereof when and as due, the Trustee shall, at the written direction of the Majority Noteholders, proceed to protect and enforce its rights and the rights of the Noteholders by such appropriate Proceedings as the Trustee or the Majority Noteholders, shall deem most effective to protect and enforce any such rights, whether for specific performance of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy or legal or equitable right vested in the Trustee by this Indenture or by law.

(e) In case there shall be pending, relative to the Issuer or any other obligor upon the Notes or any Person having or claiming an ownership interest in the Trust Estate, proceedings under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor or Person, or in case of any other comparable Proceedings relative to the Issuer or other obligor upon the Notes, or to the creditors or property of the Issuer or such other obligor, the Trustee, irrespective of whether the principal of any Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the provisions of this Section, shall be entitled and empowered, by intervention in such proceedings or otherwise:

(i) to file and prove a claim or claims for the whole amount of principal and interest owing and unpaid in respect of the Notes and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence, bad faith or willful misconduct) and of the Noteholders allowed in such Proceedings;

(ii) unless prohibited by applicable law and regulations, to vote on behalf of the Noteholders in any election of a trustee, a standby trustee or person performing similar functions in any such Proceedings;

 

31


(iii) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute all amounts received with respect to the claims of the Noteholders and of the Trustee on their behalf; and

(iv) to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee or the Noteholders allowed in any Proceedings relative to the Issuer, its creditors and its property;

and any trustee, receiver, liquidator, custodian or other similar official in any such Proceeding is hereby authorized by each of such Noteholders to make payments to the Trustee, and, in the event that the Trustee shall consent to the making of payments directly to such Noteholders, to pay to the Trustee such amounts as shall be sufficient to cover reasonable compensation to the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee except as a result of negligence or bad faith.

(f) Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Noteholder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Noteholder in any such Proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar person.

(g) All rights of action and of asserting claims under this Indenture or under any of the Notes, may be enforced by the Trustee without the possession of any of the Notes or the production thereof in any trial or other proceedings relative thereto, and any such action or Proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Notes.

(h) In any Proceedings brought by the Trustee (and also any Proceedings involving the interpretation of any provision of this Indenture), the Trustee shall be held to represent all the Holders of the Notes, and it shall not be necessary to make any Noteholder a party to any such proceedings.

SECTION 5.4 Remedies.

(a) If an Event of Default shall have occurred and be continuing, the Trustee may do one or more of the following (subject to Section 5.5):

(i) institute Proceedings in its own name and as trustee of an express trust for the collection of all amounts then payable on the Notes or under this Indenture with respect thereto, whether by declaration or otherwise, enforce any judgment obtained, and collect from the Issuer and any other obligor upon such moneys adjudged due;

(ii) institute Proceedings from time to time for the complete or partial foreclosure of this Indenture with respect to the Trust Estate;

 

32


(iii) exercise any remedies of a secured party under the UCC and take any other appropriate action to protect and enforce the rights and remedies of the Trustee and the Holders of the Notes; and

(iv) direct the Trust Collateral Agent to sell the Trust Estate or any portion thereof or rights or interest therein, at one or more public or private sales called and conducted in any manner permitted by law; provided, however, that, the Trustee may not sell or otherwise liquidate the Trust Estate following an Event of Default unless:

(I) such Event of Default is of the type described in Section 5.1(i) or (ii), or

(II) either

(x) the Holders of 100% of the Outstanding Amount of the Notes consent thereto, or

(y) the proceeds of such sale or liquidation distributable to the Noteholders are sufficient to discharge in full all amounts then due and unpaid upon such Notes for principal and interest, or

(z) the Trustee determines that the Trust Estate will not continue to provide sufficient funds for the payment of principal of and interest on the Notes as they would have become due if the Notes had not been declared due and payable, and the Trustee provides prior written notice to the Rating Agencies and obtains the consent of Holders of 66-2/3% of the Outstanding Amount of the Notes.

In determining such sufficiency or insufficiency with respect to clauses (y) and (z), the Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Trust Estate for such purpose.

SECTION 5.5 Optional Preservation of the Receivables. If the Notes have been declared to be due and payable under Section 5.2 following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Trustee may, but need not, elect to direct the Trust Collateral Agent to maintain possession of the Trust Estate. It is the desire of the parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Trustee shall take such desire into account when determining whether or not to direct the Trust Collateral Agent to maintain possession of the Trust Estate. In determining whether to direct the Trust Collateral Agent to maintain possession of the Trust Estate, the Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation as to the feasibility of such proposed action and as to the sufficiency of the Trust Estate for such purpose.

 

33


SECTION 5.6 Priorities.

(a) Following (1) the acceleration of the Notes pursuant to Section 5.2 or (2) the occurrence of an Event of Default pursuant to Sections 5.1(i), 5.1(ii), 5.1(iv), 5.1(v) or 5.1(vi) of this Indenture or (3) the receipt of Insolvency Proceeds pursuant to Section 10.1(b) of the Sale and Servicing Agreement, the Available Funds, plus any amounts on deposit in the Reserve Account, including any money or property collected pursuant to Section 5.4 of this Indenture and any such Insolvency Proceeds, shall be applied by the Trust Collateral Agent on the related Distribution Date in the following order of priority:

FIRST: amounts due and owing and required to be distributed to the Servicer (provided there is no Servicer Termination Event), the Lockbox Bank, the Lockbox Processor, the Owner Trustee, the Trustee, the Trust Collateral Agent and Backup Servicer, respectively, pursuant to priorities (i) and (ii) of Section 5.7(a) of the Sale and Servicing Agreement and not previously distributed, in the order of such priorities and without preference or priority of any kind without regard to any caps set forth in clauses (i) and (ii) of Section 5.7(a) of the Sale and Servicing Agreement;

SECOND: to the Class A Noteholders for amounts due and unpaid on the Class A Notes in respect of interest (including any premium), ratably, without preference or priority of any kind, according to the amounts due and payable on the Class A Notes in respect of interest (including any premium);

THIRD: to Holders of the Class A Notes for amounts due and unpaid on the Class A Notes in respect of principal, first, to the Holders of the Class A-1 Notes, until the Outstanding Amount of the Class A-1 Notes is reduced to zero, and second, ratably, without preference or priority of any kind, according to the amounts due and payable to the Holders of the Class A-2 Notes and the Class A-3 Notes, until the aggregate Outstanding Amount of the Class A-2 Notes and the Class A-3 Notes is reduced to zero;

FOURTH: to the Class B Noteholders for amounts due and unpaid on the Class B Notes in respect of interest (including any premium), according to the amounts due and payable on the Class B Notes in respect of interest (including any premium);

FIFTH: to Holders of the Class B Notes for amounts due and unpaid on the Class B Notes in respect of principal, according to the amounts due and payable on the Class B Notes in respect of principal, until the Outstanding Amount of the Class B Notes is reduced to zero;

SIXTH: to the Class C Noteholders for amounts due and unpaid on the Class C Notes in respect of interest (including any premium), according to the amounts due and payable on the Class C Notes in respect of interest (including any premium);

SEVENTH: to Holders of the Class C Notes for amounts due and unpaid on the Class C Notes in respect of principal, according to the amounts due and payable on the Class C Notes in respect of principal, until the Outstanding Amount of the Class C Notes is reduced to zero;

 

34


EIGHTH: to the Class D Noteholders for amounts due and unpaid on the Class D Notes in respect of interest (including any premium), according to the amounts due and payable on the Class D Notes in respect of interest (including any premium);

NINTH: to Holders of the Class D Notes for amounts due and unpaid on the Class D Notes in respect of principal, according to the amounts due and payable on the Class D Notes in respect of principal, until the Outstanding Amount of the Class D Notes is reduced to zero;

TENTH: to the Certificateholder.

Following the occurrence of an Event of Default pursuant to 5.1(iii) (unless the Notes have been accelerated), payments on the Notes shall be made in the order and priority set forth in Section 5.7 of the Sale and Servicing Agreement.

(b) The Trustee may fix a record date and payment date for any payment to Noteholders pursuant to this Section 5.6. At least 15 days before such record date the Issuer shall mail to each Noteholder and the Trustee a notice that states the record date, the payment date and the amount to be paid.

SECTION 5.7 Limitation of Suits. No Holder of any Note shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless:

(i) such Holder has previously given written notice to the Trustee of a continuing Event of Default;

(ii) the Holders of not less than 25% of the Outstanding Amount of the Notes have made written request to the Trustee to institute such Proceeding in respect of such Event of Default in its own name as Trustee hereunder;

(iii) such Holder or Holders have offered to the Trustee indemnity reasonably satisfactory to it against the costs, expenses and liabilities to be incurred in complying with such request;

(iv) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute such Proceedings; and

(v) no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Majority Noteholders;

it being understood and intended that no one or more Noteholders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Noteholders or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided.

 

35


SECTION 5.8 Unconditional Rights of Noteholders To Receive Principal and Interest. Notwithstanding any other provisions in this Indenture, the Holder of any Note shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest, if any, on such Note on or after the respective due dates thereof expressed in such Note or in this Indenture (or, in the case of redemption, on or after the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder.

SECTION 5.9 Restoration of Rights and Remedies. If the Controlling Party or any Noteholder has instituted any Proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason or has been determined adversely to the Trustee or to such Noteholder, then and in every such case the Issuer, the Trustee and the Noteholders shall, subject to any determination in such Proceeding, be restored severally and respectively to their former positions hereunder, and thereafter all rights and remedies of the Trustee and the Noteholders shall continue as though no such Proceeding had been instituted.

SECTION 5.10 Rights and Remedies Cumulative. No right or remedy herein conferred upon or reserved to the Controlling Party or to the Noteholders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.

SECTION 5.11 Delay or Omission Not a Waiver. No delay or omission of the Trustee, the Controlling Party or any Holder of any Note to exercise any right or remedy accruing upon any Default or Event of Default shall impair any such right or remedy or constitute a waiver of any such Default or Event of Default or an acquiescence therein. Every right and remedy given by this Article V or by law to the Trustee or to the Noteholders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Noteholders, as the case may be.

SECTION 5.12 Control by Noteholders. The Majority Noteholders shall have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Trust Collateral Agent, as Controlling Party, or the Trustee, as applicable, with respect to the Notes or exercising any trust or power conferred on the Controlling Party or the Trustee, as applicable; provided that

(i) such direction shall not be in conflict with any rule of law or with this Indenture;

(ii) subject to the express terms of Section 5.4, any direction to the Trustee to sell or liquidate the Trust Estate shall be by the Noteholders representing not less than 100% of the Outstanding Amount of the Notes;

 

36


(iii) if the conditions set forth in Section 5.5 have been satisfied and the Trustee elects to retain the Trust Estate pursuant to such Section, then any direction to the Trustee by Noteholders representing less than 100% of the Outstanding Amount of the Notes to sell or liquidate the Trust Estate shall be of no force and effect; and

(iv) the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction;

provided, however, that, subject to Article VI, the Trustee need not take any action that it determines might involve it in liability, financial or otherwise, without receiving indemnity satisfactory to it, or might materially adversely affect the rights of any Noteholders not consenting to such action.

SECTION 5.13 Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.4, the Majority Noteholders may waive any past Default or Event of Default and its consequences except a Default (a) in payment of principal of or interest on any of the Notes or (b) in respect of a covenant or provision hereof which cannot be modified or amended without the consent of the Holder of each Note. In the case of any such waiver, the Issuer, the Trustee and the Holders of the Notes shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereto.

Upon any such waiver, such Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto.

SECTION 5.14 Undertaking for Costs. All parties to this Indenture agree, and each Holder of any Note by such Holder’s acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs and expenses, including reasonable attorneys’ fees and expenses, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to (a) any suit instituted by the Trustee, (b) any suit instituted by any Noteholder, or group of Noteholders, in each case holding in the aggregate more than 10% of the Outstanding Amount of the Notes or (c) any suit instituted by any Noteholder for the enforcement of the payment of principal of or interest on any Note on or after the respective due dates expressed in such Note and in this Indenture (or, in the case of redemption, on or after the Redemption Date).

SECTION 5.15 Waiver of Stay or Extension Laws. The Issuer covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead or in any manner whatsoever, claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the

 

37


performance of this Indenture; and the Issuer (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted.

SECTION 5.16 Action on Notes. The Trustee’s right to seek and recover judgment on the Notes or under this Indenture shall not be affected by the seeking, obtaining or application of any other relief under or with respect to this Indenture. Neither the lien of this Indenture nor any rights or remedies of the Trustee or the Noteholders shall be impaired by the recovery of any judgment by the Trustee against the Issuer or by the levy of any execution under such judgment upon any portion of the Trust Estate or upon any of the assets of the Issuer.

SECTION 5.17 Performance and Enforcement of Certain Obligations.

(a) Promptly following a request from the Trustee to do so and at the Servicer’s expense, the Issuer agrees to take all such lawful action as the Trustee may request to compel or secure the performance and observance by the Seller and the Servicer, as applicable, of each of their obligations to the Issuer under or in connection with the Sale and Servicing Agreement in accordance with the terms thereof, and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer under or in connection with the Sale and Servicing Agreement to the extent and in the manner directed by the Trustee, including the transmission of notices of default on the part of the Seller or the Servicer thereunder and the institution of legal or administrative actions or Proceedings to compel or secure performance by the Seller or the Servicer of each of their obligations under the Sale and Servicing Agreement.

(b) If an Event of Default has occurred and is continuing, the Controlling Party may, and, at the written direction of the Holders of 66-2/3% of the Outstanding Amount of the Notes shall, subject to Article VI, exercise all rights, remedies, powers, privileges and claims of the Issuer against the Seller or the Servicer under or in connection with the Sale and Servicing Agreement, including the right or power to take any action to compel or secure performance or observance by the Seller or the Servicer of each of their obligations to the Issuer thereunder and to give any consent, request, notice, direction, approval, extension or waiver under the Sale and Servicing Agreement, and any right of the Issuer to take such action shall be suspended.

ARTICLE VI

The Trustee and the Trust Collateral Agent

SECTION 6.1 Duties of Trustee.

(a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and the Basic Documents to which it is a Party and use the same degree of care and skill in its exercise as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs.

 

38


(b) Except during the continuance of an Event of Default:

(i) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee; and

(ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; however, the Trustee shall examine the certificates and opinions to determine whether or not they conform on their face to the requirements of this Indenture.

(c) The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that:

(i) this paragraph does not limit the effect of paragraph (b) of this Section;

(ii) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and

(iii) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 5.12.

(d) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Issuer.

(e) Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law or the terms of this Indenture or the Sale and Servicing Agreement.

(f) No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of such funds or indemnity reasonably satisfactory to it against such risk or liability is not assured to it.

(g) Every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section 6.1 and to the provisions of the TIA.

(h) The Trustee shall, and hereby agrees that it will, perform all of the obligations and duties required of it under the Sale and Servicing Agreement.

(i) Without limiting the generality of this Section 6.1, the Trustee shall have no duty (i) to see to any recording, filing or depositing of this Indenture or any agreement referred to herein or any financing statement evidencing a security interest in the Financed Vehicles, or to see to the maintenance of any such recording or filing or depositing or to any

 

39


recording, refiling or redepositing of any thereof, (ii) to see to any insurance of the Financed Vehicles or Obligors or to effect or maintain any such insurance, (iii) to see to the payment or discharge of any tax, assessment or other governmental charge or any Lien or encumbrance of any kind owing with respect to, assessed or levied against any part of the Trust, (iv) to confirm or verify the contents of any reports or certificates delivered to the Trustee pursuant to this Indenture or the Sale and Servicing Agreement believed by the Trustee to be genuine and to have been signed or presented by the proper party or parties, or (v) to inspect the Financed Vehicles at any time or ascertain or inquire as to the performance of observance of any of the Issuer’s, the Seller’s or the Servicer’s representations, warranties or covenants or the Servicer’s duties and obligations as Servicer and as custodian of the Receivable Files under the Sale and Servicing Agreement.

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

SECTION 6.2 Rights of Trustee.

(a) The Trustee may conclusively rely on any document believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document.

(b) Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on the Officer’s Certificate or Opinion of Counsel.

(c) The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys or a custodian or nominee, and the Trustee shall not be responsible for any misconduct or negligence on the part of, or for the supervision of, AmeriCredit Financial Services, Inc., or any other such agent, attorney, custodian or nominee appointed with due care by it hereunder.

(d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers; provided, however, that the Trustee’s conduct does not constitute willful misconduct, negligence or bad faith.

(e) The Trustee may consult with counsel, and the advice or opinion of counsel with respect to legal matters relating to this Indenture and the Notes shall be full and complete authorization and protection from liability in respect to any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel.

(f) The Trustee shall be under no obligation to institute, conduct or defend any litigation under this Indenture or in relation to this Indenture, at the request, order or direction of any of the Noteholders, pursuant to the provisions of this Indenture, unless such Noteholders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities that may be incurred therein or thereby; provided, however, that the Trustee shall, upon the occurrence of an Event of Default (that has not been cured), exercise the rights and powers vested in it by this Indenture with reasonable care and skill.

 

40


(g) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond or other paper or document, unless requested in writing to do so by the Noteholders evidencing not less than 25% of the Outstanding Amount thereof; provided, however, that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture or the Sale and Servicing Agreement, the Trustee may require reasonable indemnity against such cost, expense or liability as a condition to so proceeding; the reasonable expense of every such examination shall be paid by the Person making such request, or, if paid by the Trustee, shall be reimbursed by the Person making such request upon demand.

(h) The Trustee shall not be liable for any losses on investments except for losses resulting from the failure of the Trustee to make an investment in accordance with instructions given in accordance hereunder. If the Trustee acts as the Note Paying Agent or Note Registrar, the rights and protections afforded to the Trustee shall be afforded to the Note Paying Agent and Note Registrar.

SECTION 6.3 Individual Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer or its Affiliates with the same rights it would have if it were not Trustee. Any Note Paying Agent, Note Registrar, co-registrar or co-Note Paying Agent may do the same with like rights. However, the Trustee must comply with Sections 6.11 and 6.12.

SECTION 6.4 Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture, the Trust Estate or the Notes, it shall not be accountable for the Issuer’s use of the proceeds from the Notes, and it shall not be responsible for any statement of the Issuer in this Indenture or in any document issued in connection with the sale of the Notes or in the Notes other than the Trustee’s certificate of authentication.

SECTION 6.5 Notice of Defaults. If an Event of Default occurs and is continuing and if it is either known by, or written notice of the existence thereof has been delivered to, a Responsible Officer of the Trustee, the Trustee shall mail to each Noteholder notice of the Default within 90 days after such knowledge or notice occurs. Except in the case of a Default in payment of principal of or interest on any Note (including payments pursuant to the mandatory redemption provisions of such Note), the Trustee may withhold the notice to the Noteholder if and so long as it in good faith determines that withholding the notice is in the interests of Noteholders.

SECTION 6.6 Reports by Trustee to Holders. At the end of each calendar year, the Trustee shall deliver to each person who at any time during the calendar year was a Noteholder a statement as to the aggregate amounts of interest and principal paid to the Noteholder to the extent required by the Code and any other information as may be reasonably required to enable such Holder to prepare its federal and state income tax returns.

 

41


SECTION 6.7 Compensation and Indemnity.

(a) Pursuant to Section 5.7(a) of the Sale and Servicing Agreement, the Issuer shall, or shall cause the Servicer to, pay to the Trustee, the Trust Collateral Agent and the Backup Servicer (subject to any applicable caps) from time to time compensation for its services. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall cause the Servicer to reimburse the Trustee, the Trust Collateral Agent and the Backup Servicer (subject to any applicable caps) for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the Trustee’s, the Trust Collateral Agent’s and the Backup Servicer’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer to indemnify the Trustee, the Trust Collateral Agent, the Backup Servicer and their respective officers, directors, employees and agents against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by each of them in connection with the acceptance or the administration of this Trust and the performance of its duties hereunder. The Trustee, the Trust Collateral Agent or the Backup Servicer shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by the Trustee, the Trust Collateral Agent or the Backup Servicer to so notify the Issuer and the Servicer shall not relieve the Issuer of its obligations hereunder or the Servicer of its obligations under Article XI of the Sale and Servicing Agreement. The Issuer shall cause the Servicer to defend the claim, and the Trustee, the Trust Collateral Agent or the Backup Servicer may have separate counsel and the Issuer shall cause the Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need to reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee, the Trust Collateral Agent or the Backup Servicer through the Trustee’s, the Trust Collateral Agent’s or the Backup Servicer’s own willful misconduct, negligence or bad faith.

(b) The Issuer’s payment obligations to the Trustee, the Trust Collateral Agent or the Backup Servicer pursuant to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Trustee or the Trust Collateral Agent or the Backup Servicer. When the Trustee, the Trust Collateral Agent or the Backup Servicer incurs expenses after the occurrence of a Default specified in Section 5.1(iv) or (v) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or State bankruptcy, insolvency or similar law. Notwithstanding anything else set forth in this Indenture or the Basic Documents, the Trustee agrees that the obligations of the Issuer (but not the Servicer) to the Trustee hereunder and under the Basic Documents shall be recourse to the Trust Estate only and specifically shall not be recourse to the assets of the Certificateholder or any Noteholder. In addition, the Trustee agrees that its recourse to the Issuer, the Trust Estate and the Seller shall be limited to the right to receive the distributions referred to in Section 5.7(a) of the Sale and Servicing Agreement.

 

42


SECTION 6.8 Replacement of Trustee. The Trustee may resign at any time by so notifying the Issuer. The Issuer may and shall, remove the Trustee, if:

(i) the Trustee fails to comply with Section 6.11;

(ii) a court having jurisdiction in the premises in respect of the Trustee in an involuntary case or proceeding under federal or State banking or bankruptcy laws, as now or hereafter constituted, or any other applicable federal or State bankruptcy, insolvency or other similar law, shall have entered a decree or order granting relief or appointing a receiver, liquidator, assignee, custodian, trustee, conservator, sequestrator (or similar official) for the Trustee or for any substantial part of the Trustee’s property, or ordering the winding-up or liquidation of the Trustee’s affairs;

(iii) an involuntary case under the federal bankruptcy laws, as now or hereafter in effect, or another present or future federal or State bankruptcy, insolvency or similar law is commenced with respect to the Trustee and such case is not dismissed within 60 days;

(iv) the Trustee commences a voluntary case under any federal or state banking or bankruptcy laws, as now or hereafter constituted, or any other applicable federal or State bankruptcy, insolvency or other similar law, or consents to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, conservator, sequestrator (or other similar official) for the Trustee or for any substantial part of the Trustee’s property, or makes any assignment for the benefit of creditors or fails generally to pay its debts as such debts become due or takes any action in furtherance of any of the foregoing; or

(v) the Trustee otherwise becomes incapable of acting.

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer shall promptly appoint a successor Trustee.

A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the retiring Trustee under this Indenture subject to satisfaction of the Rating Agency Condition. The successor Trustee shall mail a notice of its succession to the Noteholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee.

If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuer or the Majority Noteholders may petition any court of competent jurisdiction for the appointment of a successor Trustee.

If the Trustee fails to comply with Section 6.11, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

 

43


Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section shall not become effective until acceptance of appointment by the successor Trustee pursuant to Section 6.8 and payment of all fees and expenses owed to the outgoing Trustee.

Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s and the Servicer’s obligations under Section 6.7 shall continue for the benefit of the retiring Trustee.

SECTION 6.9 Successor Trustee by Merger. If the Trustee consolidates with, merges or converts into, or transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation or banking association, without any further act shall be the successor Trustee. The Trustee shall provide the Rating Agencies prior written notice of any such transaction.

In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts created by this Indenture any of the Notes shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver such Notes so authenticated; and in case at that time any of the Notes shall not have been authenticated, any successor to the Trustee may authenticate such Notes either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Notes or in this Indenture provided that the certificate of the Trustee shall have.

SECTION 6.10 Appointment of Co-Trustee or Separate Trustee.

(a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction in which any part of the Trust Estate may at the time be located, the Trustee shall have the power and may execute and deliver all instruments to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of the Trust Estate, and to vest in such Person or Persons, in such capacity and for the benefit of the Noteholders, such title to the Trust Estate, or any part hereof, and, subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 6.11 and no notice to Noteholders of the appointment of any co-trustee or separate trustee shall be required under Section 6.8 hereof.

(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:

(i) all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act

 

44


or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to the Trust Estate or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee;

(ii) no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder, including acts or omissions of predecessor or successor trustees; and

(iii) the Trustee may at any time accept the resignation of or remove any separate trustee or co-trustee.

(c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Article VI. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection to, the Trustee. Every such instrument shall be filed with the Trustee.

(d) Any separate trustee or co-trustee may at any time constitute the Trustee, its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, dissolve, become insolvent, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall invest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.

(e) Any and all amounts relating to the fees and expenses of the co-trustee or separate trustee will be borne by the Trust Estate.

SECTION 6.11 Eligibility: Disqualification. The Trustee shall at all times satisfy the requirements of TIA § 310(a). The Trustee shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition and it shall have a long-term debt rating of BBB-, or an equivalent rating, or better by the Rating Agencies. The Trustee shall comply with TIA § 310(b), including the optional provision permitted by the second sentence of TIA § 310(b)(9); provided, however, that there shall be excluded from the operation of TIA § 310(b)(1) any indenture or indentures under which other securities of the Issuer are outstanding if the requirements for such exclusion set forth in TIA § 310(b)(1) are met.

Within 90 days after ascertaining the occurrence of an Event of Default which shall not have been cured or waived, unless authorized by the Commission, the Trustee shall resign with respect to the Class A Notes, the Class B Notes, the Class C Notes and/or the Class D

 

45


Notes in accordance with Section 6.8 of this Indenture, and the Issuer shall appoint a successor Trustee for each of such Classes, as applicable, so that there will be separate Trustees for the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes. In the event the Trustee fails to comply with the terms of the preceding sentence, the Trustee shall comply with clauses (ii) and (iii) of TIA Section 310(b).

In the case of the appointment hereunder of a successor Trustee with respect to any Class of Notes pursuant to this Section 6.11, the Issuer, the retiring Trustee and the successor Trustee with respect to such Class of Notes shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (i) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, the successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Notes of the Class to which the appointment of such successor Trustee relates, (ii) if the retiring Trustee is not retiring with respect to all Classes of Notes, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Notes of each Class as to which the retiring Trustee is not retiring shall continue to be vested in the Trustee and (iii) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be a trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the removal of the retiring Trustee shall become effective to the extent provided herein.

SECTION 6.12 Preferential Collection of Claims Against Issuer. The Trustee shall comply with TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated.

SECTION 6.13 Appointment and Powers. Subject to the terms and conditions hereof, each of the Issuer Secured Parties hereby appoints Wells Fargo Bank, National Association, as the Trust Collateral Agent with respect to the Collateral, and Wells Fargo Bank, National Association hereby accepts such appointment and agrees to act as Trust Collateral Agent with respect to the Collateral for the Issuer Secured Parties, to maintain custody and possession of such Collateral (except as otherwise provided hereunder) and to perform the other duties of the Trust Collateral Agent in accordance with the provisions of this Indenture and the other Basic Documents. Each Issuer Secured Party hereby authorizes the Trust Collateral Agent to take such action on its behalf, and to exercise such rights, remedies, powers and privileges hereunder, as the Trustee may direct and as are specifically authorized to be exercised by the Trust Collateral Agent by the terms hereof, together with such actions, rights, remedies, powers and privileges as are reasonably incidental thereto, including, but not limited to, the execution of any powers of attorney. The Trust Collateral Agent shall act upon and in compliance with the written instructions of the Controlling Party delivered pursuant to this Indenture promptly following receipt of such written instructions; provided that neither the Trustee nor the Trust Collateral Agent shall act upon its own accord or in accordance with any instructions (i) if such actions are not authorized by, or in violation of the provisions of, this Indenture, (ii) if such

 

46


actions are in violation of any applicable law, rule or regulation or (iii) with respect to actions for which the Trustee has been directed to act but for which the Trustee has not received reasonable indemnity. Receipt of such instructions shall not be a condition to the exercise by the Trust Collateral Agent of its express duties hereunder, except where this Indenture provides that the Trust Collateral Agent is permitted to act only following and in accordance with such instructions.

SECTION 6.14 Performance of Duties. The Trust Collateral Agent shall have no duties or responsibilities except those expressly set forth in this Indenture and the other Basic Documents to which the Trust Collateral Agent is a party or as directed by the Controlling Party in accordance with this Indenture. The Trust Collateral Agent shall not be required to take any discretionary actions hereunder except at the written direction and with reasonable security and indemnity satisfactory to the Trust Collateral Agent. The Trust Collateral Agent shall, and hereby agrees that it will, subject to this Article, perform all of the duties and obligations required of it under the Sale and Servicing Agreement.

SECTION 6.15 Limitation on Liability. Neither the Trust Collateral Agent nor any of its directors, officers or employees shall be liable for any action taken or omitted to be taken by it or them hereunder, or in connection herewith, except that the Trust Collateral Agent shall be liable for its negligence, bad faith or willful misconduct; nor shall the Trust Collateral Agent be responsible for the validity, effectiveness, value, sufficiency or enforceability against the Issuer of this Indenture or any of the Collateral (or any part thereof). Notwithstanding any term or provision of this Indenture, the Trust Collateral Agent shall incur no liability to the Issuer or the Issuer Secured Parties for any action taken or omitted by the Trust Collateral Agent in connection with the Collateral, except for the negligence, bad faith or willful misconduct on the part of the Trust Collateral Agent, and, further, shall incur no liability to the Issuer Secured Parties except for negligence, bad faith or willful misconduct in carrying out its duties to the Issuer Secured Parties. The Trust Collateral Agent shall be protected and shall incur no liability to any such party in relying upon the accuracy, acting in reliance upon the contents, and assuming the genuineness of any notice, demand, certificate, signature, instrument or other document reasonably believed by the Trust Collateral Agent to be genuine and to have been duly executed by the appropriate signatory, and (absent actual knowledge to the contrary by a Responsible Officer of the Trust Collateral Agent) the Trust Collateral Agent shall not be required to make any independent investigation with respect thereto. The Trust Collateral Agent shall at all times be free independently to establish to its reasonable satisfaction, but shall have no duty to independently verify, the existence or nonexistence of facts that are a condition to the exercise or enforcement of any right or remedy hereunder or under any of the Basic Documents. The Trust Collateral Agent may consult with counsel, and shall not be liable for any action taken or omitted to be taken by it hereunder in good faith and in accordance with the advice of such counsel. The Trust Collateral Agent shall not be under any obligation to exercise any of the remedial rights or powers vested in it by this Indenture or to follow any direction from the Trustee or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder unless it shall have received reasonable security or indemnity satisfactory to the Trust Collateral Agent against the costs, expenses and liabilities which might be incurred by it.

 

47


SECTION 6.16 Reliance Upon Documents. In the absence of negligence, bad faith or willful misconduct on its part, the Trust Collateral Agent shall be entitled to conclusively rely on any communication, instrument, paper or other document reasonably believed by it to be genuine and correct and to have been signed or sent by the proper Person or Persons and shall have no liability in acting, or omitting to act, where such action or omission to act is in reasonable reliance upon any statement or opinion contained in any such document or instrument.

SECTION 6.17 Successor Trust Collateral Agent.

(a) Merger. Any Person into which the Trust Collateral Agent may be converted or merged, or with which it may be consolidated, or to which it may sell or transfer its trust business and assets as a whole or substantially as a whole, or any Person resulting from any such conversion, merger, consolidation, sale or transfer to which the Trust Collateral Agent is a party, shall (provided it is otherwise qualified to serve as the Trust Collateral Agent hereunder) be and become a successor Trust Collateral Agent hereunder and be vested with all of the title to and interest in the Collateral and all of the trusts, powers, discretions, immunities, privileges and other matters as was its predecessor without the execution or filing of any instrument or any further act, deed or conveyance on the part of any of the parties hereto, anything herein to the contrary notwithstanding, except to the extent, if any, that any such action is necessary to perfect, or continue the perfection of, the security interest of the Issuer Secured Parties in the Collateral; provided that any such successor shall also be the successor Trustee under Section 6.9.

(b) Resignation. The Trust Collateral Agent and any successor Trust Collateral Agent may resign at any time by so notifying the Issuer; provided that the Trust Collateral Agent shall not so resign unless it shall also resign as Trustee hereunder.

(c) Removal. The Trust Collateral Agent may be removed by the Trustee at any time (and should be removed at any time that the Trustee has been removed), with or without cause, by an instrument or concurrent instruments in writing delivered to the Trust Collateral Agent, the other Issuer Secured Party and the Issuer. A temporary successor may be removed at any time to allow a successor Trust Collateral Agent to be appointed pursuant to subsection (d) below. Any removal pursuant to the provisions of this subsection (c) shall take effect only upon the date which is the latest of (i) the effective date of the appointment of a successor Trust Collateral Agent and the acceptance in writing by such successor Trust Collateral Agent of such appointment and of its obligation to perform its duties hereunder in accordance with the provisions hereof, and (ii) receipt by the Trustee of an Opinion of Counsel to the effect described in Section 3.6.

(d) Acceptance by Successor. The Trustee shall have the sole right to appoint each successor Trust Collateral Agent. Every temporary or permanent successor Trust Collateral Agent appointed hereunder shall execute, acknowledge and deliver to its predecessor and to the Trustee, each Issuer Secured Party and the Issuer an instrument in writing accepting such appointment hereunder and the relevant predecessor shall execute, acknowledge and deliver such other documents and instruments as will effectuate the delivery of all Collateral to the successor Trust Collateral Agent, whereupon such successor, without any further act, deed or conveyance, shall become fully vested with all the estates, properties, rights, powers, duties and obligations of its predecessor. Such predecessor shall, nevertheless,

 

48


on the written request of either Issuer Secured Party or the Issuer, execute and deliver an instrument transferring to such successor all the estates, properties, rights and powers of such predecessor hereunder. In the event that any instrument in writing from the Issuer or an Issuer Secured Party is reasonably required by a successor Trust Collateral Agent to more fully and certainly vest in such successor the estates, properties, rights, powers, duties and obligations vested or intended to be vested hereunder in the Trust Collateral Agent, any and all such written instruments shall, at the request of the temporary or permanent successor Trust Collateral Agent, be forthwith executed, acknowledged and delivered by the Trustee or the Issuer, as the case may be. The designation of any successor Trust Collateral Agent and the instrument or instruments removing any Trust Collateral Agent and appointing a successor hereunder, together with all other instruments provided for herein, shall be maintained with the records relating to the Collateral and, to the extent required by applicable law, filed or recorded by the successor Trust Collateral Agent in each place where such filing or recording is necessary to effect the transfer of the Collateral to the successor Trust Collateral Agent or to protect or continue the perfection of the security interests granted hereunder.

SECTION 6.18 Compensation. The Trust Collateral Agent shall not be entitled to any compensation for the performance of its duties hereunder other than the compensation it is entitled to receive in its capacity as Trustee.

SECTION 6.19 Representations and Warranties of the Trust Collateral Agent and the Issuer. (a) The Trust Collateral Agent represents and warrants to the Issuer and to each Issuer Secured Party as follows:

(i) Due Organization. The Trust Collateral Agent is a national banking association and is duly authorized and licensed under applicable law to conduct its business as presently conducted.

(ii) Corporate Power. The Trust Collateral Agent has all requisite right, power and authority to execute and deliver this Indenture and to perform all of its duties as Trust Collateral Agent hereunder.

(iii) Due Authorization. The execution and delivery by the Trust Collateral Agent of this Indenture and the other Transaction Documents to which it is a party, and the performance by the Trust Collateral Agent of its duties hereunder and thereunder, have been duly authorized by all necessary corporate proceedings and no further approvals or filings, including any governmental approvals, are required for the valid execution and delivery by the Trust Collateral Agent, or the performance by the Trust Collateral Agent, of this Indenture and such other Basic Documents.

(iv) Valid and Binding Indenture. The Trust Collateral Agent has duly executed and delivered this Indenture and each other Basic Document to which it is a party, and each of this Indenture and each such other Basic Document constitutes the legal, valid and binding obligation of the Trust Collateral Agent, enforceable against the Trust Collateral Agent in accordance with its terms, except as (i) such enforceability may be limited by bankruptcy, insolvency, reorganization and similar laws relating to or affecting the enforcement of creditors’ rights generally and (ii) the availability of equitable remedies may be limited by equitable principles of general applicability.

 

49


(v) No Conflicts. The execution and delivery of each Basic Document to which it is a party by the Trust Collateral Agent and the performance by the Trust Collateral Agent of its obligations thereunder, in its capacity as Trust Collateral Agent or otherwise, do not conflict with or result in any violation of (i) any law or regulation of the United States of America governing the banking or trust powers of the Trust Collateral Agent or (ii) the articles of incorporation and by-laws of the Trust Collateral Agent.

(vi) No Actions. To the best of the Trust Collateral Agent’s knowledge, there are no actions, proceedings or investigations known to the Trust Collateral Agent, either pending or threatened in writing, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality which would, if adversely determined, affect in any material respect the consummation, validity or enforceability against the Trust Collateral Agent, in its capacity as Trust Collateral Agent or otherwise, of any Basic Document.

(b) The Issuer hereby represents and warrants that each of the representations and warranties set forth on the Schedule of Representations attached hereto as Schedule A is true and correct. Such representations and warranties speak as of the execution and delivery of this Indenture and as of the Closing Date, but shall survive the pledge of the Receivables to the Trust Collateral Agent and shall not be waived.

SECTION 6.20 Waiver of Setoffs. The Trust Collateral Agent hereby expressly waives any and all rights of setoff that the Trust Collateral Agent may otherwise at any time have under applicable law with respect to any Trust Account and agrees that amounts in the Trust Accounts shall at all times be held and applied solely in accordance with the provisions hereof and the Sale and Servicing Agreement.

ARTICLE VII

Noteholders’ Lists and Reports

SECTION 7.1 Issuer To Furnish To Trustee Names and Addresses of Noteholders. The Issuer will furnish or cause to be furnished to the Trustee (a) not more than five days after the earlier of (i) each Record Date and (ii) three months after the last Record Date, a list, in such form as the Trustee may reasonably require, of the names and addresses of the Holders as of such Record Date, (b) at such other times as the Trustee may request in writing, within 30 days after receipt by the Issuer of any such request, a list of similar form and content as of a date not more than 10 days prior to the time such list is furnished; provided, however, that so long as the Trustee is the Note Registrar, no such list shall be required to be furnished.

SECTION 7.2 Preservation of Information; Communications to Noteholders.

(a) The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of the Holders contained in the most recent list furnished to the Trustee as provided in Section 7.1 and the names and addresses of Holders received by the Trustee in its capacity as Note Registrar. The Trustee may destroy any list furnished to it as provided in such Section 7.1 upon receipt of a new list so furnished.

 

50


(b) Noteholders may communicate pursuant to TIA § 312(b) with other Noteholders with respect to their rights under this Indenture or under the Notes.

(c) The Issuer, the Trustee and the Note Registrar shall have the protection of TIA § 312(c).

SECTION 7.3 Reports by Issuer.

(a) The Issuer shall:

(i) file with the Trustee, within 15 days after the Issuer is required to file the same with the Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) which the Issuer may be required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act;

(ii) file with the Trustee and the Commission in accordance with rules and regulations prescribed from time to time by the Commission such additional information, documents and reports with respect to compliance by the Issuer with the conditions and covenants of this Indenture as may be required from time to time by such rules and regulations; and

(iii) supply to the Trustee (and the Trustee shall transmit by mail to all Noteholders described in TIA § 313(c)) such summaries of any information, documents and reports required to be filed by the Issuer pursuant to clauses (i) and (ii) of this Section 7.3(a) as may be required by rules and regulations prescribed from time to time by the Commission.

(b) Unless the Issuer otherwise determines, the fiscal year of the Issuer shall end on December 31 of each year.

SECTION 7.4 Reports by Trustee. If required by TIA § 313(a), within 60 days after each May 31, beginning with May 31, 2010, the Trustee shall mail to each Noteholder as required by TIA § 313(c) a brief report dated as of such date that complies with TIA § 313(a). The Trustee also shall comply with TIA § 313(b).

A copy of each report at the time of its mailing to Noteholders shall be filed by the Trustee with the Commission and each stock exchange, if any, on which the Notes are listed. The Issuer shall notify the Trustee if and when the Notes are listed on any stock exchange.

 

51


ARTICLE VIII

Accounts, Disbursements and Releases

SECTION 8.1 Collection of Money. Except as otherwise expressly provided herein, the Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Trust Collateral Agent pursuant to this Indenture and the Sale and Servicing Agreement. The Trustee shall apply all such money received by it, or cause the Trust Collateral Agent to apply all money received by it as provided in this Indenture and the Sale and Servicing Agreement. Except as otherwise expressly provided in this Indenture or in the Sale and Servicing Agreement, if any default occurs in the making of any payment or performance under any agreement or instrument that is part of the Trust Estate, the Trustee may take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and any right to proceed thereafter as provided in Article V.

SECTION 8.2 Release of Trust Estate.

(a) Subject to the payment of its fees and expenses and other amounts pursuant to Section 6.7, the Trust Collateral Agent may, and when required by the provisions of this Indenture shall, execute instruments to release property from the lien of this Indenture, in a manner and under circumstances that are not inconsistent with the provisions of this Indenture. No party relying upon an instrument executed by the Trust Collateral Agent as provided in this Article VIII shall be bound to ascertain the Trust Collateral Agent’s authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.

(b) The Trust Collateral Agent shall, at such time as there are no Notes outstanding and all sums due the Trustee pursuant to Section 6.7 have been paid, release any remaining portion of the Trust Estate that secured the Notes from the lien of this Indenture and release to the Issuer or any other Person entitled thereto any funds then on deposit in the Trust Accounts.

SECTION 8.3 Opinion of Counsel. The Trust Collateral Agent shall receive at least seven days’ notice when requested by the Issuer to take any action pursuant to Section 8.2(a), accompanied by copies of any instruments involved, and the Trustee shall also require as a condition to such action, an Opinion of Counsel in form and substance satisfactory to the Trustee, stating the legal effect of any such action, outlining the steps required to complete the same, and concluding that all conditions precedent to the taking of such action have been complied with. Counsel rendering any such opinion may rely, without independent investigation, on the accuracy and validity of any certificate or other instrument delivered to the Trustee in connection with any such action.

 

52


ARTICLE IX

Supplemental Indentures

SECTION 9.1 Supplemental Indentures Without Consent of Noteholders.

(a) Without the consent of the Holders of any Notes and with prior notice to the Rating Agencies by the Issuer, as evidenced to the Trustee, the Issuer and the Trustee, when authorized by an Issuer Order, at any time and from time to time, may enter into one or more indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as in force at the date of the execution thereof), in form satisfactory to the Trustee, for any of the following purposes:

(i) to correct or amplify the description of any property at any time subject to the lien of this Indenture, or better to assure, convey and confirm unto the Trust Collateral Agent any property subject or required to be subjected to the lien of this Indenture, or to subject to the lien of this Indenture additional property;

(ii) to evidence the succession, in compliance with the applicable provisions hereof, of another person to the Issuer, and the assumption by any such successor of the covenants of the Issuer herein and in the Notes contained;

(iii) to add to the covenants of the Issuer, for the benefit of the Holders of the Notes, or to surrender any right or power herein conferred upon the Issuer;

(iv) to convey, transfer, assign, mortgage or pledge any property to or with the Trust Collateral Agent;

(v) to cure any ambiguity, to correct or supplement any provision herein or in any supplemental indenture which may be inconsistent with any other provision herein or in any supplemental indenture or to make any other provisions with respect to matters or questions arising under this Indenture or in any supplemental indenture; provided that such action shall not adversely affect the interests of the Holders of the Notes;

(vi) to evidence and provide for the acceptance of the appointment hereunder by a successor trustee with respect to the Notes and to add to or change any of the provisions of this Indenture as shall be necessary to facilitate the administration of the trusts hereunder by more than one trustee, pursuant to the requirements of Article VI; or

(vii) to modify, eliminate or add to the provisions of this Indenture to such extent as shall be necessary to effect the qualification of this Indenture under the TIA or under any similar federal statute hereafter enacted and to add to this Indenture such other provisions as may be expressly required by the TIA.

The Trustee is hereby authorized to join in the execution of any such supplemental indenture and to make any further appropriate agreements and stipulations that may be therein contained.

 

53


(b) The Issuer and the Trustee, when authorized by an Issuer Order, may, also without the consent of any of the Holders of the Notes but with prior notice to the Rating Agencies by the Issuer, as evidenced to the Trustee, enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, this Indenture or of modifying in any manner the rights of the Holders of the Notes under this Indenture; provided, however, that such action shall not, as evidenced by an Opinion of Counsel, adversely affect in any material respect the interests of any Noteholder.

SECTION 9.2 Supplemental Indentures with Consent of Noteholders. The Issuer and the Trustee, when authorized by an Issuer Order, also may, with prior notice to the Rating Agencies, and with the consent of the Majority Noteholders, by Act of such Holders delivered to the Issuer and the Trustee, enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, this Indenture or of modifying in any manner the rights of the Holders of the Notes under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Note affected thereby:

(i) change the date of payment of any installment of principal of or interest on any Note, or reduce the principal amount thereof, the interest rate thereon or the Redemption Price with respect thereto, change the provision of this Indenture relating to the application of collections on, or the proceeds of the sale of, the Trust Estate to payment of principal of or interest on the Notes, or change any place of payment where, or the coin or currency in which, any Note or the interest thereon is payable;

(ii) impair the right to institute suit for the enforcement of the provisions of this Indenture requiring the application of funds available therefor, as provided in Article V, to the payment of any such amount due on the Notes on or after the respective due dates thereof (or, in the case of redemption, on or after the Redemption Date);

(iii) reduce the percentage of the Outstanding Amount of the Notes, the consent of the Holders of which is required for any such supplemental indenture, or the consent of the Holders of which is required for any waiver of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences provided for in this Indenture;

(iv) modify or alter the provisions of the proviso to the definition of the term “Outstanding” or the term “Majority Noteholders”;

(v) reduce the percentage of the Outstanding Amount of the Notes required to direct the Trustee to direct the Issuer to sell or liquidate the Trust Estate pursuant to Section 5.4;

(vi) modify any provision of this Section except to increase any percentage specified herein or to provide that certain additional provisions of this Indenture or the Basic Documents cannot be modified or waived without the consent of the Holder of each Outstanding Note affected thereby;

 

54


(vii) modify any of the provisions of this Indenture in such manner as to affect the calculation of the amount of any payment of interest or principal due on any Note on any Distribution Date (including the calculation of any of the individual components of such calculation) or to affect the rights of the Noteholders to the benefit of any provisions for the mandatory redemption of the Notes contained herein; or

(viii) permit the creation of any lien ranking prior to or on a parity with the lien of this Indenture with respect to any part of the Trust Estate or, except as otherwise permitted or contemplated herein or in any of the Basic Documents, terminate the lien of this Indenture on any property at any time subject hereto or deprive the Holder of any Note of the security provided by the lien of this Indenture.

The Trustee may determine whether or not any Notes would be affected by any supplemental indenture and any such determination shall be conclusive upon the Holders of all Notes, whether theretofore or thereafter authenticated and delivered hereunder. The Trustee shall not be liable for any such determination made in good faith.

It shall not be necessary for any Act of Noteholders under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof.

Promptly after the execution by the Issuer and the Trustee of any supplemental indenture pursuant to this Section, the Trustee shall mail to the Holders of the Notes to which such amendment or supplemental indenture relates a notice setting forth in general terms the substance of such supplemental indenture. Any failure of the Trustee to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture.

SECTION 9.3 Execution of Supplemental Indentures. In executing, or permitting the additional trusts created by, any supplemental indenture permitted by this Article IX or the amendments or modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive and shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture that affects the Trustee’s own rights, duties, liabilities or immunities under this Indenture or otherwise.

SECTION 9.4 Effect of Supplemental Indenture. Upon the execution of any supplemental indenture pursuant to the provisions hereof, this Indenture shall be and be deemed to be modified and amended in accordance therewith with respect to the Notes affected thereby, and the respective rights, limitations of rights, obligations, duties, liabilities and immunities under this Indenture of the Trustee, the Issuer and the Holders of the Notes shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes.

 

55


SECTION 9.5 Conformity With Trust Indenture Act. Every amendment of this Indenture and every supplemental indenture executed pursuant to this Article IX shall conform to the requirements of the Trust Indenture Act as then in effect so long as this Indenture shall then be qualified under the Trust Indenture Act.

SECTION 9.6 Reference in Notes to Supplemental Indentures. Notes authenticated and delivered after the execution of any supplemental indenture pursuant to this Article IX may, and if required by the Trustee shall, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Issuer or the Trustee shall so determine, new Notes so modified as to conform, in the opinion of the Trustee and the Issuer, to any such supplemental indenture may be prepared and executed by the Issuer and authenticated and delivered by the Trustee in exchange for Outstanding Notes.

ARTICLE X

Redemption of Notes

SECTION 10.1 Redemption.

(a) The Notes shall be redeemed in whole, but not in part, on any Distribution Date on which the Servicer or Seller exercises its option to purchase the Trust Estate pursuant to Section 10.1(a) of the Sale and Servicing Agreement, for a purchase price equal to the Redemption Price; provided, however, that no such redemption may be effected unless the Issuer has available funds sufficient to pay the Redemption Price on such Distribution Date. The Servicer or the Issuer shall furnish the Rating Agencies notice of such redemption. If the Notes are to be redeemed pursuant to this Section 10.1(a), the Servicer or the Issuer shall furnish notice of such election to the Trustee not later than 25 days prior to the Redemption Date and the Issuer shall deposit with the Trustee in the Collection Account the amount required to be so deposited pursuant to Section 10.1(a) of the Sale and Servicing Agreement, whereupon all outstanding Notes shall be due and payable on the Redemption Date subject to the furnishing of a notice complying with Section 10.2 to each Holder of Notes.

(b) In the event that the assets of the Trust are distributed pursuant to Section 8.1 of the Trust Agreement, all amounts on deposit in the Note Distribution Account shall be paid to the Noteholders up to the Outstanding Amount of the Notes and all accrued and unpaid interest thereon. If amounts are to be paid to Noteholders pursuant to this Section 10.1(b), the Servicer or the Issuer shall, to the extent practicable, furnish notice of such event to the Trustee not later than 45 days prior to the Redemption Date whereupon all such amounts shall be payable on the Redemption Date.

 

56


SECTION 10.2 Form of Redemption. (a) Notice of redemption under Section 10.1(a) shall be given by the Trustee by facsimile or by first-class mail, postage prepaid, transmitted or mailed prior to the applicable Redemption Date to each Holder of Notes, as of the close of business on the Record Date preceding the applicable Redemption Date, at such Holder’s address appearing in the Note Register.

All notices of redemption shall state:

(i) the Redemption Date;

(ii) the Redemption Price;

(iii) that the Record Date otherwise applicable to such Redemption Date is not applicable and that payments shall be made only upon presentation and surrender of such Notes and the place where such Notes are to be surrendered for payment of the Redemption Price (which shall be the office or agency of the Issuer to be maintained as provided in Section 3.2); and

(iv) that interest on the Notes shall cease to accrue on the Redemption Date.

(b) Notice of redemption of the Notes shall be given by the Trustee in the name and at the expense of the Issuer. Failure to give notice of redemption, or any defect therein, to any Holder of any Note shall not impair or affect the validity of the redemption of any other Note.

(c) Prior notice of redemption under Section 10.1(b) is not required to be given to the Noteholders.

SECTION 10.3 Notes Payable on Redemption Date. The Notes to be redeemed shall, following notice of redemption, as required by Section 10.2 (in the case of redemption pursuant to Section 10.1(a)), on the Redemption Date become due and payable at the Redemption Price and (unless the Issuer shall default in the payment of the Redemption Price) no interest shall accrue on the Redemption Price for any period after the date to which accrued interest is calculated for purposes of calculating the Redemption Price.

ARTICLE XI

Miscellaneous

SECTION 11.1 Compliance Certificates and Opinions, etc.

(a) Upon any application or request by the Issuer to the Trustee or the Trust Collateral Agent to take any action under any provision of this Indenture, the Issuer shall furnish to the Trustee or the Trust Collateral Agent, as the case may be, (i) an Officer’s Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with, (ii) an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with and (iii) (if required by the TIA) an Independent Certificate from a firm of certified public

 

57


accountants meeting the applicable requirements of this Section, except that, in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision of this Indenture, no additional certificate or opinion need be furnished.

Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include:

(i) a statement that each signatory of such certificate or opinion has read or has caused to be read such covenant or condition and the definitions herein relating thereto;

(ii) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based;

(iii) a statement that, in the opinion of each such signatory, such signatory has made such examination or investigation as is necessary to enable such signatory to express an informed opinion as to whether or not such covenant or condition has been complied with; and

(iv) a statement as to whether, in the opinion of each such signatory such condition or covenant has been complied with.

(b) (i) Prior to the deposit of any Collateral or other property or securities with the Trust Collateral Agent that is to be made the basis for the release of any property or securities subject to the lien of this Indenture, the Issuer shall, in addition to any obligation imposed in Section 11.1(a) or elsewhere in this Indenture, furnish to the Trust Collateral Agent an Officer’s Certificate certifying or stating the opinion of each person signing such certificate as to the fair value (within 90 days of such deposit) to the Issuer of the Collateral or other property or securities to be so deposited.

(ii) Whenever the Issuer is required to furnish to the Trust Collateral Agent an Officer’s Certificate certifying or stating the opinion of any signer thereof as to the matters described in clause (i) above, the Issuer shall also deliver to the Trust Collateral Agent an Independent Certificate as to the same matters, if the fair value to the Issuer of the securities to be so deposited and of all other such securities made the basis of any such withdrawal or release since the commencement of the then-current fiscal year of the Issuer, as set forth in the certificates delivered pursuant to clause (i) above and this clause (ii), is 10% or more of the Outstanding Amount of the Notes, but such a certificate need not be furnished with respect to any securities so deposited, if the fair value thereof to the Issuer as set forth in the related Officer’s Certificate is less than $25,000 or less than 1% percent of the Outstanding Amount of the Notes.

(iii) Other than with respect to the release of any Purchased Receivables, Sold Receivables or Liquidated Receivables, whenever any property or securities are to be released from the lien of this Indenture, the Issuer shall also furnish to the Trust Collateral Agent an Officer’s Certificate certifying or stating the opinion of each person

 

58


signing such certificate as to the fair value (within 90 days of such release) of the property or securities proposed to be released and stating that in the opinion of such person the proposed release will not impair the security under this Indenture in contravention of the provisions hereof.

(iv) Whenever the Issuer is required to furnish to the Trustee an Officer’s Certificate certifying or stating the opinion of any signer thereof as to the matters described in clause (iii) above, the Issuer shall also furnish to the Trust Collateral Agent an Independent Certificate as to the same matters if the fair value of the property or securities and of all other property other than Purchased Receivables, Sold Receivables and Defaulted Receivables, or securities released from the lien of this Indenture since the commencement of the then current calendar year, as set forth in the certificates required by clause (iii) above and this clause (iv), equals 10% or more of the Outstanding Amount of the Notes, but such certificate need not be furnished in the case of any release of property or securities if the fair value thereof as set forth in the related Officer’s Certificate is less than $25,000 or less than 1 percent of the then Outstanding Amount of the Notes.

(v) Notwithstanding Section 2.9 or any other provision of this Section, the Issuer may (A) collect, liquidate, sell or otherwise dispose of Receivables as and to the extent permitted or required by the Basic Documents and (B) make cash payments out of the Trust Accounts as and to the extent permitted or required by the Basic Documents.

SECTION 11.2 Form of Documents Delivered to Trustee. In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents.

Any certificate or opinion of an Authorized Officer of the Issuer may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his or her certificate or opinion is based are erroneous. Any such certificate of an Authorized Officer or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Servicer, the Seller or the Issuer, stating that the information with respect to such factual matters is in the possession of the Servicer, the Seller or the Issuer, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous.

Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument.

 

59


Whenever in this Indenture, in connection with any application or certificate or report to the Trustee, it is provided that the Issuer shall deliver any document as a condition of the granting of such application, or as evidence of the Issuer’s compliance with any term hereof, it is intended that the truth and accuracy, at the time of the granting of such application or at the effective date of such certificate or report (as the case may be), of the facts and opinions stated in such document shall in such case be conditions precedent to the right of the Issuer to have such application granted or to the sufficiency of such certificate or report. The foregoing shall not, however, be construed to affect the Trustee’s right to rely upon the truth and accuracy of any statement or opinion contained in any such document as provided in Article VI.

SECTION 11.3 Acts of Noteholders.

(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by Noteholders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Noteholders in person or by agents duly appointed in writing; and except as herein otherwise expressly provided such action shall become effective when such instrument or instruments are delivered to the Trustee, and, where it is hereby expressly required, to the Issuer. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Noteholders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to Section 6.1) conclusive in favor of the Trustee and the Issuer, if made in the manner provided in this Section. In the event the Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of Noteholders, each representing less than a majority of the Outstanding Amount of the Notes or the Majority Noteholders, the Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of this Indenture.

(b) The fact and date of the execution by any person of any such instrument or writing may be proved in any customary manner of the Trustee.

(c) The ownership of Notes shall be proved by the Note Register.

(d) Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Notes shall bind the Holder of every Note issued upon the registration thereof or in exchange therefor or in lieu thereof, in respect of anything done, omitted or suffered to be done by the Trustee or the Issuer in reliance thereon, whether or not notation of such action is made upon such Note.

SECTION 11.4 Notices, etc., to Trustee, Issuer and Rating Agencies. Any request, demand, authorization, direction, notice, consent, waiver or Act of Noteholders or other documents provided or permitted by this Indenture to be made upon, given or furnished to or filed with:

(a) The Trustee by any Noteholder or by the Issuer shall be sufficient for every purpose hereunder if personally delivered, delivered by overnight courier or mailed certified mail, return receipt requested and shall be deemed to have been duly given upon receipt to the Trustee at its Corporate Trust Office, or

 

60


(b) The Issuer by the Trustee or by any Noteholder shall be sufficient for every purpose hereunder if personally delivered, delivered by overnight courier or mailed certified mail, return receipt requested and shall deemed to have been duly given upon receipt to the Issuer addressed to: AmeriCredit Automobile Receivables Trust 2010-1, in care of Wilmington Trust Company, Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890-0001, Attention: Corporate Trust Administration, or at any other address previously furnished in writing to the Trustee by Issuer. The Issuer shall promptly transmit any notice received by it from the Noteholders to the Trustee.

(c) Notices required to be given to the Rating Agencies by the Issuer, the Trustee or the Owner Trustee shall be in writing, personally delivered, electronically delivered, delivered by overnight courier or mailed certified mail, return receipt requested to (i) in the case of Moody’s, at the following address: Moody’s Investors Service, Inc., 7 World Trade Center at 250 Greenwich Street, Asset Finance Group – 24th floor, New York, New York 10007; and (ii) in the case of Standard & Poor’s, via electronic delivery to Servicer_reports@sandp.com; for any information not available in electronic format, send hard copies to: Standard & Poor’s Ratings Services, 55 Water Street, 42nd floor, New York, New York 10041, Attention: ABS Surveillance Group; or as to each of the foregoing, at such other address as shall be designated by written notice to the other parties.

SECTION 11.5 Notices to Noteholders; Waiver. Where this Indenture provides for notice to Noteholders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class, postage prepaid to each Noteholder affected by such event, at his address as it appears on the Note Register, not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. In any case where notice to Noteholders is given by mail, neither the failure to mail such notice nor any defect in any notice so mailed to any particular Noteholder shall affect the sufficiency of such notice with respect to other Noteholders, and any notice that is mailed in the manner here in provided shall conclusively be presumed to have been duly given.

Where this Indenture provides for notice in any manner, such notice may be waived in writing by any Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Noteholders shall be filed with the Trustee but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such a waiver.

In case, by reason of the suspension of regular mail service as a result of a strike, work stoppage or similar activity, it shall be impractical to mail notice of any event to Noteholders when such notice is required to be given pursuant to any provision of this Indenture, then any manner of giving such notice as shall be satisfactory to the Trustee shall be deemed to be a sufficient giving of such notice.

 

61


Where this Indenture provides for notice to the Rating Agencies, failure to give such notice shall not affect any other rights or obligations created hereunder, and shall not under any circumstance constitute a Default or Event of Default.

SECTION 11.6 [Reserved]

SECTION 11.7 Conflict with Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with another provision hereof that is required to be included in this Indenture by any of the provisions of the Trust Indenture Act, such required provision shall control.

The provisions of TIA §§ 310 through 317 that impose duties on any person (including the provisions automatically deemed included herein unless expressly excluded by this Indenture) are a part of and govern this Indenture, whether or not physically contained herein.

SECTION 11.8 Effect of Headings and Table of Contents. The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof.

SECTION 11.9 Successors and Assigns. All covenants and agreements in this Indenture and the Notes by the Issuer shall bind its successors and assigns, whether so expressed or not. All agreements of the Trustee in this Indenture shall bind its successors. All agreements of the Trust Collateral Agent in this Indenture shall bind its successors.

SECTION 11.10 Separability. In case any provision in this Indenture or in the Notes shall be invalid, illegal or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

SECTION 11.11 Benefits of Indenture. Nothing in this Indenture or in the Notes, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder, the Noteholders, and any other party secured hereunder, and any other person with an Ownership interest in any part of the Trust Estate, any benefit or any legal or equitable right, remedy or claim under this Indenture.

SECTION 11.12 Legal Holidays. In any case where the date on which any payment is due shall not be a Business Day, then (notwithstanding any other provision of the Notes or this Indenture) payment need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on the date on which nominally due, and no interest shall accrue for the period from and after any such nominal date.

SECTION 11.13 GOVERNING LAW. THIS INDENTURE SHALL BE CONSTRUED IN ACCORDANCE WITH, AND THIS INDENTURE AND ALL MATTERS ARISING OUT OF OR RELATING IN ANY WAY TO THIS INDENTURE SHALL BE, GOVERNED BY THE LAW OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

 

62


SECTION 11.14 Counterparts. This Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

SECTION 11.15 Recording of Indenture. If this Indenture is subject to recording in any appropriate public recording offices, such recording is to be effected by the Issuer and at its expense accompanied by an Opinion of Counsel (which may be counsel to the Trustee or any other counsel reasonably acceptable to the Trustee) to the effect that such recording is necessary either for the protection of the Noteholders or any other person secured hereunder or for the enforcement of any right or remedy granted to the Trustee or the Trust Collateral Agent under this Indenture.

SECTION 11.16 Trust Obligation. No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Seller, the Servicer, the Backup Servicer, the Owner Trustee, the Trust Collateral Agent or the Trustee on the Notes or under this Indenture, any other Basic Document or any certificate or other writing delivered in connection herewith or therewith, against (i) the Seller, the Servicer, the Backup Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuer or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of the Seller, the Servicer, the Backup Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Seller, the Servicer, the Backup Servicer, the Owner Trustee, the Trust Collateral Agent or the Trustee or of any successor or assign of the Seller, the Servicer, the Backup Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Trustee, the Trust Collateral Agent, the Backup Servicer and the Owner Trustee have no such obligations in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. For all purposes of this Indenture, in the performance of any duties or obligations of the Issuer hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI, VII and VIII of the Trust Agreement.

SECTION 11.17 No Petition. The Trustee and the Trust Collateral Agent, by entering into this Indenture, and each Noteholder, by accepting a Note, hereby covenant and agree that they will not at any time institute against the Seller, or the Issuer, or join in any institution against the Seller, or the Issuer of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any United States federal or State bankruptcy or similar law in connection with any obligations relating to the Notes, this Indenture or any of the Basic Documents.

SECTION 11.18 Inspection. The Issuer agrees that, on reasonable prior notice, it will permit any representative of the Trustee, during the Issuer’s normal business hours, to examine all the books of account, records, reports, and other papers of the Issuer, to make copies and extracts therefrom, to cause such books to be audited by independent certified public accountants, and to discuss the Issuer’s affairs, finances and accounts with the Issuer’s officers, employees, and independent certified public accountants, all at such reasonable times and as

 

63


often as may be reasonably requested. Notwithstanding anything herein to the contrary, the foregoing shall not be construed to prohibit (i) disclosure of any and all information that is or becomes publicly known, (ii) disclosure of any and all information (A) if required to do so by any applicable statute, law, rule or regulation, (B) to any government agency or regulatory body having or claiming authority to regulate or oversee any respects of the Trustee’s business or that of its affiliates, (C) pursuant to any subpoena, civil investigative demand or similar demand or request of any court, regulatory authority, arbitrator or arbitration to which the Trustee or an affiliate or an officer, director, employer or shareholder thereof is a party, (D) in any preliminary or final offering circular, registration statement or contract or other document pertaining to the transactions contemplated by the Indenture approved in advance by the Servicer or the Issuer or (E) to any independent or internal auditor, agent, employee or attorney of the Trustee having a need to know the same, provided that the Trustee advises such recipient of the confidential nature of the information being disclosed, or (iii) any other disclosure authorized by the Servicer or the Issuer.

[SIGNATURE PAGE FOLLOWS]

 

64


IN WITNESS WHEREOF, the Issuer and the Trustee have caused this Indenture to be duly executed by their respective officers, hereunto duly authorized, all as of the day and year first above written.

 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1,
By:   WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee
By:   /s/ Erik E. Overcash
  Name: Erik E. Overcash
  Title: Assistant Vice President

 

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

[Indenture]


EXHIBIT A-1

 

REGISTERED

$132,600,000


 

No. RB A-1

SEE REVERSE FOR CERTAIN DEFINITIONS

CUSIP NO. 03064C AA8

Unless this Note is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.

THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1

CLASS A-1 0.29642% ASSET BACKED NOTE

AmeriCredit Automobile Receivables Trust 2010-1, a statutory trust organized and existing under the laws of the State of Delaware (herein referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of ONE HUNDRED THIRTY-TWO MILLION, SIX HUNDRED THOUSAND DOLLARS payable on each Distribution Date in an amount equal to the result obtained by multiplying (i) a fraction the numerator of which is $132,600,000 and the denominator of which is $132,600,000 by (ii) the aggregate amount, if any, payable from the Note Distribution Account and Collection Account in respect of principal on the Class A-1 Notes pursuant to the Indenture; provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the February 15, 2011 Distribution Date (the “Final Scheduled Distribution Date”). The Issuer will pay interest on this Note at the rate per annum shown above on each Distribution Date until the principal of this Note is paid or made available for payment. Interest on this Note will accrue for each Distribution Date from the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, if no interest has yet been paid, from February 12, 2010. Interest will be computed on the basis of a 360-day year and the actual number of days in the related Interest Period. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof.


The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this Note.

Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Note.

Unless the certificate of authentication hereon has been executed by the Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose.

 

A-1-2


IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile, by its Authorized Officer as of the date set forth below.

 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1
by    
WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
by    
Name:  
Title:  

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

This is one of the Notes designated above and referred to in the within-mentioned Indenture.

 

Date: February 12, 2010     WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Trustee
    by    
        Authorized Signer

 

A-1-3


[REVERSE OF NOTE]

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Class A-1 0.29642% Asset Backed Notes (herein called the “Class A-1 Notes”), all issued under an Indenture dated as of February 2, 2010 (such indenture, as supplemented or amended, is herein called the “Indenture”), between the Issuer and Wells Fargo Bank, National Association, as trustee (the “Trustee,” which term includes any successor Trustee under the Indenture) and as trust collateral agent (the “Trust Collateral Agent”), which term includes any successor Trust Collateral Agent) to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended.

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes and the Class D Notes (together, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture.

Principal of the Class A-1 Notes will be payable on each Distribution Date in an amount described on the face hereof. “Distribution Date” means the fifteenth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing March 15, 2010. If AmeriCredit is no longer acting as Servicer, the distribution date may be a different day of the month. The term “Distribution Date,” shall be deemed to include the Final Scheduled Distribution Date.

As described above, the entire unpaid principal amount of this Note shall be due and payable on the earlier of the Final Scheduled Distribution Date and the Redemption Date, if any, pursuant to the Indenture. As described above, a portion of the unpaid principal balance of this Note shall be due and payable on the Redemption Date, if any. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Majority Noteholders have declared the Notes to be immediately due and payable in the manner provided in the Indenture. All principal payments on the Class A-1 Notes shall be made pro rata to the Class A-1 Noteholders entitled thereto.

Payments of interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Distribution Date shall be binding upon all future Holders of this Note and of any Note issued upon the registration of

 

A-1-4


transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a Distribution Date, then the Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Holder hereof as of the Record Date preceding such Distribution Date by notice mailed prior to such Distribution Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Trustee’s principal Corporate Trust Office or at the office of the Trustee’s agent appointed for such purposes located in Minneapolis, Minnesota.

The Issuer shall pay interest on overdue installments of interest at the Class A-1 Interest Rate to the extent lawful.

As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, (i) duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar which requirements include membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require, and thereupon one or more new Notes of authorized denominations and in the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange.

If this Note has been issued as a Definitive Note, the Note Registrar shall not register the transfer of this Note unless the prospective transferee has represented and warranted in writing that either (a) it is not a Benefit Plan Entity or (b) it is a Benefit Plan Entity and its acquisition and holding of this Note is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition and holding will not violate such Similar Law). If this Note has been issued as a Book Entry Note, each transferee of this Note or any beneficial interest herein that is a Benefit Plan Entity shall be deemed to represent that its acquisition and holding of this Note or any beneficial interest herein is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition and holding will not violate such Similar Law).

Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees (i) that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee or the Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (a) the Seller, the Servicer, the Trustee or the Owner Trustee in its individual capacity, (b) any owner of a beneficial interest in the Issuer or (c) any partner, owner, beneficiary, agent, officer, director or employee of the Seller, the Servicer, the Trustee or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the

 

A-1-5


Seller, the Servicer, the Owner Trustee or the Trustee or of any successor or assign of the Seller, the Servicer, the Trustee or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Trustee and the Owner Trustee have no such obligations in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity, and (ii) to treat the Notes that are owned or beneficially owned by a Person other than AFS SenSub Corp., or it Affiliates, as indebtedness for purposes of federal income, state and local income and franchise and any other income taxes.

Prior to the due presentment for registration of transfer of this Note, the Issuer and the Trustee and any agent of the Issuer or the Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trustee nor any such agent shall be affected by notice to the contrary.

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Majority Noteholders. The Indenture also contains provisions permitting the Noteholders representing specified percentages of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued thereunder.

The term “Issuer” as used in this Note includes any successor to the Issuer under the Indenture.

The Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Trustee and the Noteholders under the Indenture.

The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to certain limitations therein set forth.

This Note and the Indenture shall be construed in accordance with the laws of the State of New York, without reference to its conflict of law provisions, and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in accordance with such laws.

 

A-1-6


No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed.

Anything herein to the contrary notwithstanding, except as expressly provided in the Indenture or the Basic Documents, neither Wilmington Trust Company in its individual capacity, any owner of a beneficial interest in the Issuer, nor any of their respective partners, beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or omission to perform, any of the covenants, obligations or indemnifications contained in this Note or the Indenture, it being expressly understood that said covenants, obligations and indemnifications have been made by the Owner Trustee for the sole purposes of binding the interests of the Owner Trustee in the assets of the Issuer. The Holder of this Note by the acceptance hereof agrees that except as expressly provided in the Indenture or the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note.

 

A-1-7


ASSIGNMENT

Social Security or taxpayer I.D. or other identifying number of assignee

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers

unto                                                                      

                (name and address of assignee)

the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints, attorney, to transfer said Note on the books kept for registration thereof, with full power of substitution in the premises.

 

Dated       1      
        Signature Guaranteed:
         

 

1

NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

 

A-1-8


EXHIBIT A-2

 

REGISTERED

$147,540,000


 

No. RB A-2

SEE REVERSE FOR CERTAIN DEFINITIONS

CUSIP NO. 03064C AB6

Unless this Note is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.

THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1

CLASS A-2 0.97% ASSET BACKED NOTE

AmeriCredit Automobile Receivables Trust 2010-1, a statutory trust organized and existing under the laws of the State of Delaware (herein referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of ONE HUNDRED FORTY-SEVEN MILLION, FIVE HUNDRED FORTY THOUSAND DOLLARS payable on each Distribution Date in an amount equal to the result obtained by multiplying (i) a fraction the numerator of which is $147,540,000 and the denominator of which is $147,540,000 by (ii) the aggregate amount, if any, payable from the Note Distribution Account and Collection Account in respect of principal on the Class A-2 Notes pursuant to the Indenture; provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the January 15, 2013 Distribution Date (the “Final Scheduled Distribution Date”). The Issuer will pay interest on this Note at the rate per annum shown above on each Distribution Date until the principal of this Note is paid or made available for payment. Interest on this Note will accrue for each Distribution Date from the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, if no interest has yet been paid, from February 12, 2010. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof.


The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this Note.

Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Note.

Unless the certificate of authentication hereon has been executed by the Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose.

 

A-2-2


IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile, by its Authorized Officer as of the date set forth below.

 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1
by    
WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
by    
Name:  
Title:  

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

This is one of the Notes designated above and referred to in the within-mentioned Indenture.

 

Date: February 12, 2010     WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Trustee
    by    
        Authorized Signer

 

A-2-3


[REVERSE OF NOTE]

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Class A-2 0.97% Asset Backed Notes (herein called the “Class A-2 Notes”), all issued under an Indenture dated as of February 2, 2010 (such indenture, as supplemented or amended, is herein called the “Indenture”), between the Issuer and Wells Fargo Bank, National Association, as trustee (the “Trustee,” which term includes any successor Trustee under the Indenture) and as trust collateral agent (the “Trust Collateral Agent”), which term includes any successor Trust Collateral Agent) to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended.

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes and the Class D Notes (together, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture.

Principal of the Class A-2 Notes will be payable on each Distribution Date in an amount described on the face hereof. “Distribution Date” means the fifteenth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing March 15, 2010. If AmeriCredit is no longer acting as Servicer, the distribution date may be a different day of the month. The term “Distribution Date,” shall be deemed to include the Final Scheduled Distribution Date.

As described above, the entire unpaid principal amount of this Note shall be due and payable on the earlier of the Final Scheduled Distribution Date and the Redemption Date, if any, pursuant to the Indenture. As described above, a portion of the unpaid principal balance of this Note shall be due and payable on the Redemption Date, if any. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Majority Noteholders have declared the Notes to be immediately due and payable in the manner provided in the Indenture. All principal payments on the Class A-2 Notes shall be made pro rata to the Class A-2 Noteholders entitled thereto.

Payments of interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Distribution Date shall be binding upon all future Holders of this Note and of any Note issued upon the registration of

 

A-2-4


transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a Distribution Date, then the Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Holder hereof as of the Record Date preceding such Distribution Date by notice mailed prior to such Distribution Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Trustee’s principal Corporate Trust Office or at the office of the Trustee’s agent appointed for such purposes located in Minneapolis, Minnesota.

The Issuer shall pay interest on overdue installments of interest at the Class A-2 Interest Rate to the extent lawful.

As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, (i) duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar which requirements include membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require, and thereupon one or more new Notes of authorized denominations and in the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange.

If this Note has been issued as a Definitive Note, the Note Registrar shall not register the transfer of this Note unless the prospective transferee has represented and warranted in writing that either (a) it is not a Benefit Plan Entity or (b) it is a Benefit Plan Entity and its acquisition and holding of this Note is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition and holding will not violate such Similar Law). If this Note has been issued as a Book Entry Note, each transferee of this Note or any beneficial interest herein that is a Benefit Plan Entity shall be deemed to represent that its acquisition and holding of this Note or any beneficial interest herein is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition and holding will not violate such Similar Law).

Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees (i) that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee or the Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (a) the Seller, the Servicer, the Trustee or the Owner Trustee in its individual capacity, (b) any owner of a beneficial interest in the Issuer or (c) any partner, owner, beneficiary, agent, officer, director or employee of the Seller, the Servicer, the Trustee or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the

 

A-2-5


Seller, the Servicer, the Owner Trustee or the Trustee or of any successor or assign of the Seller, the Servicer, the Trustee or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Trustee and the Owner Trustee have no such obligations in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity, and (ii) to treat the Notes that are owned or beneficially owned by a Person other than AFS SenSub Corp., or it Affiliates, as indebtedness for purposes of federal income, state and local income and franchise and any other income taxes.

Prior to the due presentment for registration of transfer of this Note, the Issuer and the Trustee and any agent of the Issuer or the Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trustee nor any such agent shall be affected by notice to the contrary.

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Majority Noteholders. The Indenture also contains provisions permitting the Noteholders representing specified percentages of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued thereunder.

The term “Issuer” as used in this Note includes any successor to the Issuer under the Indenture.

The Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Trustee and the Noteholders under the Indenture.

The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to certain limitations therein set forth.

This Note and the Indenture shall be construed in accordance with the laws of the State of New York, without reference to its conflict of law provisions, and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in accordance with such laws.

 

A-2-6


No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed.

Anything herein to the contrary notwithstanding, except as expressly provided in the Indenture or the Basic Documents, neither Wilmington Trust Company in its individual capacity, any owner of a beneficial interest in the Issuer, nor any of their respective partners, beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or omission to perform, any of the covenants, obligations or indemnifications contained in this Note or the Indenture, it being expressly understood that said covenants, obligations and indemnifications have been made by the Owner Trustee for the sole purposes of binding the interests of the Owner Trustee in the assets of the Issuer. The Holder of this Note by the acceptance hereof agrees that except as expressly provided in the Indenture or the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note.

 

A-2-7


ASSIGNMENT

Social Security or taxpayer I.D. or other identifying number of assignee

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers

unto                                                                  

                (name and address of assignee)

the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints, attorney, to transfer said Note on the books kept for registration thereof, with full power of substitution in the premises.

 

Dated       1      
        Signature Guaranteed:
         

 

1

NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

 

A-2-8


EXHIBIT A-3

 

REGISTERED

$123,300,000


 

No. RB A-3

SEE REVERSE FOR CERTAIN DEFINITIONS

CUSIP NO. 03064C AC4

Unless this Note is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.

THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1

CLASS A-3 1.66% ASSET BACKED NOTE

AmeriCredit Automobile Receivables Trust 2010-1, a statutory trust organized and existing under the laws of the State of Delaware (herein referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of ONE HUNDRED TWENTY-THREE MILLION, THREE HUNDRED THOUSAND DOLLARS payable on each Distribution Date in an amount equal to the result obtained by multiplying (i) a fraction the numerator of which is $123,300,000 and the denominator of which is $123,300,000 by (ii) the aggregate amount, if any, payable from the Note Distribution Account and Collection Account in respect of principal on the Class A-3 Notes pursuant to the Indenture; provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the March 17, 2014 Distribution Date (the “Final Scheduled Distribution Date”). The Issuer will pay interest on this Note at the rate per annum shown above on each Distribution Date until the principal of this Note is paid or made available for payment. Interest on this Note will accrue for each Distribution Date from the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, if no interest has yet been paid, from February 12, 2010. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof.


The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this Note.

Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Note.

Unless the certificate of authentication hereon has been executed by the Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose.

 

A-3-2


IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile, by its Authorized Officer as of the date set forth below.

 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1
by    
WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
by    
Name:  
Title:  

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

This is one of the Notes designated above and referred to in the within-mentioned Indenture.

 

Date: February 12, 2010     WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Trustee
    by    
        Authorized Signer

 

A-3-3


[REVERSE OF NOTE]

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Class A-3 1.66% Asset Backed Notes (herein called the “Class A-3 Notes”), all issued under an Indenture dated as of February 2, 2010 (such indenture, as supplemented or amended, is herein called the “Indenture”), between the Issuer and Wells Fargo Bank, National Association, as trustee (the “Trustee,” which term includes any successor Trustee under the Indenture) and as trust collateral agent (the “Trust Collateral Agent”), which term includes any successor Trust Collateral Agent) to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended.

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes and the Class D Notes (together, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture.

Principal of the Class A-3 Notes will be payable on each Distribution Date in an amount described on the face hereof. “Distribution Date” means the fifteenth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing March 15, 2010. If AmeriCredit is no longer acting as Servicer, the distribution date may be a different day of the month. The term “Distribution Date,” shall be deemed to include the Final Scheduled Distribution Date.

As described above, the entire unpaid principal amount of this Note shall be due and payable on the earlier of the Final Scheduled Distribution Date and the Redemption Date, if any, pursuant to the Indenture. As described above, a portion of the unpaid principal balance of this Note shall be due and payable on the Redemption Date, if any. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Majority Noteholders have declared the Notes to be immediately due and payable in the manner provided in the Indenture. All principal payments on the Class A-3 Notes shall be made pro rata to the Class A-3 Noteholders entitled thereto.

Payments of interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Distribution Date shall be binding upon all future Holders of this Note and of any Note issued upon the registration of

 

A-3-4


transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a Distribution Date, then the Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Holder hereof as of the Record Date preceding such Distribution Date by notice mailed prior to such Distribution Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Trustee’s principal Corporate Trust Office or at the office of the Trustee’s agent appointed for such purposes located in Minneapolis, Minnesota.

The Issuer shall pay interest on overdue installments of interest at the Class A-3 Interest Rate to the extent lawful.

As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, (i) duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar which requirements include membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require, and thereupon one or more new Notes of authorized denominations and in the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange.

If this Note has been issued as a Definitive Note, the Note Registrar shall not register the transfer of this Note unless the prospective transferee has represented and warranted in writing that either (a) it is not a Benefit Plan Entity or (b) it is a Benefit Plan Entity and its acquisition and holding of this Note is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition and holding will not violate such Similar Law). If this Note has been issued as a Book Entry Note, each transferee of this Note or any beneficial interest herein that is a Benefit Plan Entity shall be deemed to represent that its acquisition and holding of this Note or any beneficial interest herein is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition and holding will not violate such Similar Law).

Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees (i) that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee or the Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (a) the Seller, the Servicer, the Trustee or the Owner Trustee in its individual capacity, (b) any owner of a beneficial interest in the Issuer or (c) any partner, owner, beneficiary, agent, officer, director or employee of the Seller, the Servicer, the Trustee or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the

 

A-3-5


Seller, the Servicer, the Owner Trustee or the Trustee or of any successor or assign of the Seller, the Servicer, the Trustee or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Trustee and the Owner Trustee have no such obligations in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity, and (ii) to treat the Notes that are owned or beneficially owned by a Person other than AFS SenSub Corp., or it Affiliates, as indebtedness for purposes of federal income, state and local income and franchise and any other income taxes.

Prior to the due presentment for registration of transfer of this Note, the Issuer and the Trustee and any agent of the Issuer or the Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trustee nor any such agent shall be affected by notice to the contrary.

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Majority Noteholders. The Indenture also contains provisions permitting the Noteholders representing specified percentages of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued thereunder.

The term “Issuer” as used in this Note includes any successor to the Issuer under the Indenture.

The Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Trustee and the Noteholders under the Indenture.

The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to certain limitations therein set forth.

This Note and the Indenture shall be construed in accordance with the laws of the State of New York, without reference to its conflict of law provisions, and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in accordance with such laws.

 

A-3-6


No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed.

Anything herein to the contrary notwithstanding, except as expressly provided in the Indenture or the Basic Documents, neither Wilmington Trust Company in its individual capacity, any owner of a beneficial interest in the Issuer, nor any of their respective partners, beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or omission to perform, any of the covenants, obligations or indemnifications contained in this Note or the Indenture, it being expressly understood that said covenants, obligations and indemnifications have been made by the Owner Trustee for the sole purposes of binding the interests of the Owner Trustee in the assets of the Issuer. The Holder of this Note by the acceptance hereof agrees that except as expressly provided in the Indenture or the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note.

 

A-3-7


ASSIGNMENT

Social Security or taxpayer I.D. or other identifying number of assignee

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers

unto                                                                              

                (name and address of assignee)

the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints, attorney, to transfer said Note on the books kept for registration thereof, with full power of substitution in the premises.

 

Dated       1      
        Signature Guaranteed:
         

 

1

NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

 

A-3-8


EXHIBIT B

 

REGISTERED

   $75,864,000

 

No. RB B

  

SEE REVERSE FOR CERTAIN DEFINITIONS

CUSIP NO. 03064C AD2

Unless this Note is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.

THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1

CLASS B 3.72% ASSET BACKED NOTE

AmeriCredit Automobile Receivables Trust 2010-1, a statutory trust organized and existing under the laws of the State of Delaware (herein referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of SEVENTY-FIVE MILLION, EIGHT HUNDRED SIXTY-FOUR THOUSAND DOLLARS payable on each Distribution Date in an amount equal to the result obtained by multiplying (i) a fraction the numerator of which is $75,864,000 and the denominator of which is $75,864,000 by (ii) the aggregate amount, if any, payable from the Note Distribution Account and Collection Account in respect of principal on the Class B Notes pursuant to the Indenture; provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the November 17, 2014 Distribution Date (the “Final Scheduled Distribution Date”). The Issuer will pay interest on this Note at the rate per annum shown above on each Distribution Date until the principal of this Note is paid or made available for payment. Interest on this Note will accrue for each Distribution Date from the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, if no interest has yet been paid, from February 12, 2010. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof.


The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this Note.

Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Note.

Unless the certificate of authentication hereon has been executed by the Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose.

 

B-2


IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile, by its Authorized Officer as of the date set forth below.

 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1
by    
WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
by    
Name:  
Title:  

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

This is one of the Notes designated above and referred to in the within-mentioned Indenture.

 

Date: February 12, 2010    

WELLS FARGO BANK, NATIONAL

ASSOCIATION, not in its individual capacity but

solely as Trustee

    by    
    Authorized Signer

 

B-3


[REVERSE OF NOTE]

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Class B 3.72% Asset Backed Notes (herein called the “Class B Notes”), all issued under an Indenture dated as of February 2, 2010 (such indenture, as supplemented or amended, is herein called the “Indenture”), between the Issuer and Wells Fargo Bank, National Association, as trustee (the “Trustee,” which term includes any successor Trustee under the Indenture) and as trust collateral agent (the “Trust Collateral Agent”), which term includes any successor Trust Collateral Agent) to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended.

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes and the Class D Notes (together, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture.

Principal of the Class B Notes will be payable on each Distribution Date in an amount described on the face hereof. “Distribution Date” means the fifteenth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing March 15, 2010. If AmeriCredit is no longer acting as Servicer, the distribution date may be a different day of the month. The term “Distribution Date,” shall be deemed to include the Final Scheduled Distribution Date.

As described above, the entire unpaid principal amount of this Note shall be due and payable on the earlier of the Final Scheduled Distribution Date and the Redemption Date, if any, pursuant to the Indenture. As described above, a portion of the unpaid principal balance of this Note shall be due and payable on the Redemption Date, if any. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Majority Noteholders have declared the Notes to be immediately due and payable in the manner provided in the Indenture. All principal payments on the Class B Notes shall be made pro rata to the Class B Noteholders entitled thereto.

Payments of interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Distribution Date shall be binding upon all future Holders of this Note and of any Note issued upon the registration of

 

B-4


transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a Distribution Date, then the Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Holder hereof as of the Record Date preceding such Distribution Date by notice mailed prior to such Distribution Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Trustee’s principal Corporate Trust Office or at the office of the Trustee’s agent appointed for such purposes located in Minneapolis, Minnesota.

The Issuer shall pay interest on overdue installments of interest at the Class B Interest Rate to the extent lawful.

As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, (i) duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar which requirements include membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require, and thereupon one or more new Notes of authorized denominations and in the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange.

If this Note has been issued as a Definitive Note, the Note Registrar shall not register the transfer of this Note unless the prospective transferee has represented and warranted in writing that either (a) it is not a Benefit Plan Entity or (b) it is a Benefit Plan Entity and its acquisition and holding of this Note is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition and holding will not violate such Similar Law). If this Note has been issued as a Book Entry Note, each transferee of this Note or any beneficial interest herein that is a Benefit Plan Entity shall be deemed to represent that its acquisition and holding of this Note or any beneficial interest herein is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition and holding will not violate such Similar Law).

Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees (i) that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee or the Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (a) the Seller, the Servicer, the Trustee or the Owner Trustee in its individual capacity, (b) any owner of a beneficial interest in the Issuer or (c) any partner, owner, beneficiary, agent, officer, director or employee of the Seller, the Servicer, the Trustee or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the

 

B-5


Seller, the Servicer, the Owner Trustee or the Trustee or of any successor or assign of the Seller, the Servicer, the Trustee or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Trustee and the Owner Trustee have no such obligations in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity, and (ii) to treat the Notes that are owned or beneficially owned by a Person other than AFS SenSub Corp., or it Affiliates, as indebtedness for purposes of federal income, state and local income and franchise and any other income taxes.

Prior to the due presentment for registration of transfer of this Note, the Issuer and the Trustee and any agent of the Issuer or the Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trustee nor any such agent shall be affected by notice to the contrary.

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Majority Noteholders. The Indenture also contains provisions permitting the Noteholders representing specified percentages of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued thereunder.

The term “Issuer” as used in this Note includes any successor to the Issuer under the Indenture.

The Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Trustee and the Noteholders under the Indenture.

The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to certain limitations therein set forth.

This Note and the Indenture shall be construed in accordance with the laws of the State of New York, without reference to its conflict of law provisions, and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in accordance with such laws.

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed.

 

B-6


Anything herein to the contrary notwithstanding, except as expressly provided in the Indenture or the Basic Documents, neither Wilmington Trust Company in its individual capacity, any owner of a beneficial interest in the Issuer, nor any of their respective partners, beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or omission to perform, any of the covenants, obligations or indemnifications contained in this Note or the Indenture, it being expressly understood that said covenants, obligations and indemnifications have been made by the Owner Trustee for the sole purposes of binding the interests of the Owner Trustee in the assets of the Issuer. The Holder of this Note by the acceptance hereof agrees that except as expressly provided in the Indenture or the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note.

 

B-7


ASSIGNMENT

Social Security or taxpayer I.D. or other identifying number of assignee

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers

unto                                                                              

                (name and address of assignee)

the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints, attorney, to transfer said Note on the books kept for registration thereof, with full power of substitution in the premises.

 

Dated         1    
        Signature Guaranteed:
                  

 

1

NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

 

B-8


EXHIBIT C

 

REGISTERED

   $79,308,000
No. RB C   

SEE REVERSE FOR CERTAIN DEFINITIONS

CUSIP NO. 03064C AE0

Unless this Note is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.

THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1

CLASS C 5.19% ASSET BACKED NOTE

AmeriCredit Automobile Receivables Trust 2010-1, a statutory trust organized and existing under the laws of the State of Delaware (herein referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of SEVENTY-NINE MILLION, THREE HUNDRED EIGHT THOUSAND DOLLARS payable on each Distribution Date in an amount equal to the result obtained by multiplying (i) a fraction the numerator of which is $79,308,000 and the denominator of which is $79,308,000 by (ii) the aggregate amount, if any, payable from the Note Distribution Account and Collection Account in respect of principal on the Class C Notes pursuant to the Indenture; provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the August 17, 2015 Distribution Date (the “Final Scheduled Distribution Date”). The Issuer will pay interest on this Note at the rate per annum shown above on each Distribution Date until the principal of this Note is paid or made available for payment. Interest on this Note will accrue for each Distribution Date from the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, if no interest has yet been paid, from February 12, 2010. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof.


The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this Note.

Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Note.

Unless the certificate of authentication hereon has been executed by the Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose.

 

C-2


IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile, by its Authorized Officer as of the date set forth below.

 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1
by    
WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
by    
Name:  
Title:  

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

This is one of the Notes designated above and referred to in the within-mentioned Indenture.

 

Date: February 12, 2010    

WELLS FARGO BANK, NATIONAL

ASSOCIATION, not in its individual capacity but

solely as Trustee

    by    
    Authorized Signer

 

C-3


[REVERSE OF NOTE]

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Class C 5.19% Asset Backed Notes (herein called the “Class C Notes”), all issued under an Indenture dated as of February 2, 2010 (such indenture, as supplemented or amended, is herein called the “Indenture”), between the Issuer and Wells Fargo Bank, National Association, as trustee (the “Trustee,” which term includes any successor Trustee under the Indenture) and as trust collateral agent (the “Trust Collateral Agent”), which term includes any successor Trust Collateral Agent) to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended.

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes and the Class D Notes (together, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture.

Principal of the Class C Notes will be payable on each Distribution Date in an amount described on the face hereof. “Distribution Date” means the fifteenth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing March 15, 2010. If AmeriCredit is no longer acting as Servicer, the distribution date may be a different day of the month. The term “Distribution Date,” shall be deemed to include the Final Scheduled Distribution Date.

As described above, the entire unpaid principal amount of this Note shall be due and payable on the earlier of the Final Scheduled Distribution Date and the Redemption Date, if any, pursuant to the Indenture. As described above, a portion of the unpaid principal balance of this Note shall be due and payable on the Redemption Date, if any. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Majority Noteholders have declared the Notes to be immediately due and payable in the manner provided in the Indenture. All principal payments on the Class C Notes shall be made pro rata to the Class C Noteholders entitled thereto.

Payments of interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Distribution Date shall be binding upon all future Holders of this Note and of any Note issued upon the registration of

 

C-4


transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a Distribution Date, then the Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Holder hereof as of the Record Date preceding such Distribution Date by notice mailed prior to such Distribution Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Trustee’s principal Corporate Trust Office or at the office of the Trustee’s agent appointed for such purposes located in Minneapolis, Minnesota.

The Issuer shall pay interest on overdue installments of interest at the Class C Interest Rate to the extent lawful.

As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, (i) duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar which requirements include membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require, and thereupon one or more new Notes of authorized denominations and in the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange.

If this Note has been issued as a Definitive Note, the Note Registrar shall not register the transfer of this Note unless the prospective transferee has represented and warranted in writing that either (a) it is not a Benefit Plan Entity or (b) it is a Benefit Plan Entity and its acquisition and holding of this Note is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition and holding will not violate such Similar Law). If this Note has been issued as a Book Entry Note, each transferee of this Note or any beneficial interest herein that is a Benefit Plan Entity shall be deemed to represent that its acquisition and holding of this Note or any beneficial interest herein is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition and holding will not violate such Similar Law).

Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees (i) that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee or the Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (a) the Seller, the Servicer, the Trustee or the Owner Trustee in its individual capacity, (b) any owner of a beneficial interest in the Issuer or (c) any partner, owner, beneficiary, agent, officer, director or employee of the Seller, the Servicer, the Trustee or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the

 

C-5


Seller, the Servicer, the Owner Trustee or the Trustee or of any successor or assign of the Seller, the Servicer, the Trustee or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Trustee and the Owner Trustee have no such obligations in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity, and (ii) to treat the Notes that are owned or beneficially owned by a Person other than AFS SenSub Corp., or it Affiliates, as indebtedness for purposes of federal income, state and local income and franchise and any other income taxes.

Prior to the due presentment for registration of transfer of this Note, the Issuer and the Trustee and any agent of the Issuer or the Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trustee nor any such agent shall be affected by notice to the contrary.

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Majority Noteholders. The Indenture also contains provisions permitting the Noteholders representing specified percentages of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued thereunder.

The term “Issuer” as used in this Note includes any successor to the Issuer under the Indenture.

The Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Trustee and the Noteholders under the Indenture.

The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to certain limitations therein set forth.

This Note and the Indenture shall be construed in accordance with the laws of the State of New York, without reference to its conflict of law provisions, and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in accordance with such laws.

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed.

 

C-6


Anything herein to the contrary notwithstanding, except as expressly provided in the Indenture or the Basic Documents, neither Wilmington Trust Company in its individual capacity, any owner of a beneficial interest in the Issuer, nor any of their respective partners, beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or omission to perform, any of the covenants, obligations or indemnifications contained in this Note or the Indenture, it being expressly understood that said covenants, obligations and indemnifications have been made by the Owner Trustee for the sole purposes of binding the interests of the Owner Trustee in the assets of the Issuer. The Holder of this Note by the acceptance hereof agrees that except as expressly provided in the Indenture or the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note.

 

C-7


ASSIGNMENT

Social Security or taxpayer I.D. or other identifying number of assignee

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers

unto                                                                                               

                    (name and address of assignee)

the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints, attorney, to transfer said Note on the books kept for registration thereof, with full power of substitution in the premises.

 

Dated         1    
        Signature Guaranteed:
                  

 

1

NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

 

C-8


EXHIBIT D

 

REGISTERED

   $41,388,000

 

No. RB D

  

SEE REVERSE FOR CERTAIN DEFINITIONS

CUSIP NO. 03064C AF7

Unless this Note is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.

THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1

CLASS D 6.65% ASSET BACKED NOTE

AmeriCredit Automobile Receivables Trust 2010-1, a statutory trust organized and existing under the laws of the State of Delaware (herein referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of FORTY-ONE MILLION, THREE HUNDRED EIGHTY-EIGHT THOUSAND DOLLARS payable on each Distribution Date in an amount equal to the result obtained by multiplying (i) a fraction the numerator of which is $41,388,000 and the denominator of which is $41,388,000 by (ii) the aggregate amount, if any, payable from the Note Distribution Account and Collection Account in respect of principal on the Class D Notes pursuant to the Indenture; provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the July 17, 2017 Distribution Date (the “Final Scheduled Distribution Date”). The Issuer will pay interest on this Note at the rate per annum shown above on each Distribution Date until the principal of this Note is paid or made available for payment. Interest on this Note will accrue for each Distribution Date from the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, if no interest has yet been paid, from February 12, 2010. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof.


The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this Note.

Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Note.

Unless the certificate of authentication hereon has been executed by the Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose.

 

D-2


IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile, by its Authorized Officer as of the date set forth below.

 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1
by    
WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
by    
Name:  
Title:  

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

This is one of the Notes designated above and referred to in the within-mentioned Indenture.

 

Date: February 12, 2010    

WELLS FARGO BANK, NATIONAL

ASSOCIATION, not in its individual capacity but

solely as Trustee

    by    
      Authorized Signer

 

D-3


[REVERSE OF NOTE]

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Class D 6.65% Asset Backed Notes (herein called the “Class D Notes”), all issued under an Indenture dated as of February 2, 2010 (such indenture, as supplemented or amended, is herein called the “Indenture”), between the Issuer and Wells Fargo Bank, National Association, as trustee (the “Trustee,” which term includes any successor Trustee under the Indenture) and as trust collateral agent (the “Trust Collateral Agent”), which term includes any successor Trust Collateral Agent) to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended.

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes and the Class D Notes (together, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture.

Principal of the Class D Notes will be payable on each Distribution Date in an amount described on the face hereof. “Distribution Date” means the fifteenth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing March 15, 2010. If AmeriCredit is no longer acting as Servicer, the distribution date may be a different day of the month. The term “Distribution Date,” shall be deemed to include the Final Scheduled Distribution Date.

As described above, the entire unpaid principal amount of this Note shall be due and payable on the earlier of the Final Scheduled Distribution Date and the Redemption Date, if any, pursuant to the Indenture. As described above, a portion of the unpaid principal balance of this Note shall be due and payable on the Redemption Date, if any. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Majority Noteholders have declared the Notes to be immediately due and payable in the manner provided in the Indenture. All principal payments on the Class D Notes shall be made pro rata to the Class D Noteholders entitled thereto.

Payments of interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Distribution Date shall be binding upon all future Holders of this Note and of any Note issued upon the registration of

 

D-4


transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a Distribution Date, then the Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Holder hereof as of the Record Date preceding such Distribution Date by notice mailed prior to such Distribution Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Trustee’s principal Corporate Trust Office or at the office of the Trustee’s agent appointed for such purposes located in Minneapolis, Minnesota.

The Issuer shall pay interest on overdue installments of interest at the Class D Interest Rate to the extent lawful.

As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, (i) duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar which requirements include membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require, and thereupon one or more new Notes of authorized denominations and in the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange.

If this Note has been issued as a Definitive Note, the Note Registrar shall not register the transfer of this Note unless the prospective transferee has represented and warranted in writing that either (a) it is not a Benefit Plan Entity or (b) it is a Benefit Plan Entity and its acquisition and holding of this Note is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition and holding will not violate such Similar Law). If this Note has been issued as a Book Entry Note, each transferee of this Note or any beneficial interest herein that is a Benefit Plan Entity shall be deemed to represent that its acquisition and holding of this Note or any beneficial interest herein is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition and holding will not violate such Similar Law).

Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees (i) that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee or the Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (a) the Seller, the Servicer, the Trustee or the Owner Trustee in its individual capacity, (b) any owner of a beneficial interest in the Issuer or (c) any partner, owner, beneficiary, agent, officer, director or employee of the Seller, the Servicer, the Trustee or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the

 

D-5


Seller, the Servicer, the Owner Trustee or the Trustee or of any successor or assign of the Seller, the Servicer, the Trustee or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Trustee and the Owner Trustee have no such obligations in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity, and (ii) to treat the Notes that are owned or beneficially owned by a Person other than AFS SenSub Corp., or it Affiliates, as indebtedness for purposes of federal income, state and local income and franchise and any other income taxes.

Prior to the due presentment for registration of transfer of this Note, the Issuer and the Trustee and any agent of the Issuer or the Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trustee nor any such agent shall be affected by notice to the contrary.

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Majority Noteholders. The Indenture also contains provisions permitting the Noteholders representing specified percentages of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued thereunder.

The term “Issuer” as used in this Note includes any successor to the Issuer under the Indenture.

The Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Trustee and the Noteholders under the Indenture.

The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to certain limitations therein set forth.

This Note and the Indenture shall be construed in accordance with the laws of the State of New York, without reference to its conflict of law provisions, and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in accordance with such laws.

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed.

 

D-6


Anything herein to the contrary notwithstanding, except as expressly provided in the Indenture or the Basic Documents, neither Wilmington Trust Company in its individual capacity, any owner of a beneficial interest in the Issuer, nor any of their respective partners, beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or omission to perform, any of the covenants, obligations or indemnifications contained in this Note or the Indenture, it being expressly understood that said covenants, obligations and indemnifications have been made by the Owner Trustee for the sole purposes of binding the interests of the Owner Trustee in the assets of the Issuer. The Holder of this Note by the acceptance hereof agrees that except as expressly provided in the Indenture or the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note.

 

D-7


ASSIGNMENT

Social Security or taxpayer I.D. or other identifying number of assignee

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers

unto                                                                          

                (name and address of assignee)

the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints, attorney, to transfer said Note on the books kept for registration thereof, with full power of substitution in the premises.

 

Dated         1    
        Signature Guaranteed:
                  

 

1

NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

 

D-8


SCHEDULE A

REPRESENTATIONS AND WARRANTIES OF THE ISSUER

Representations and Warranties Regarding the Receivables:

1. Security Interest in Financed Vehicle. This Indenture creates a valid and continuing Security Interest (as defined in the applicable UCC) in the Receivables in favor of the Trust Collateral Agent, which Security Interest is prior to all other Liens, and is enforceable as such as against creditors of and purchasers from the Seller. The Issuer owns and has good and marketable title to the Receivables free and clear of any Lien (other than the Lien in favor of the Trust Collateral Agent), claim or encumbrance of any Person.

2. All Filings Made. The Issuer has taken all steps necessary to perfect the Trust Collateral Agent’s security interest in the property securing the Receivables, provided that, if not done as of the Closing Date, the Issuer will cause, within ten days of the Closing Date, the filing of all appropriate financing statements in the proper filing office in the State of Delaware under applicable law in order to perfect the security interest in the Receivables granted to the Trust Collateral Agent hereunder. All financing statements filed or to be filed against the Issuer in favor of the Trust Collateral Agent in connection herewith describing the Receivables contain a statement to the following effect: “A purchase of or a security interest in any collateral described in this financing statement will violate the rights of the Trust Collateral Agent.”

3. No Impairment. The Issuer has not done anything to convey any right to any Person that would result in such Person having a right to payments due under the Receivable or otherwise to impair the rights of the Trustee, the Trust Collateral Agent and the Noteholders in any Receivable or the proceeds thereof. Other than the security interest granted to the Trust Collateral Agent pursuant to this Indenture, the Issuer has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Receivables. The Issuer has not authorized the filing of and is not aware of any financing statements against the Issuer that include a description of collateral covering the Receivables other than any financing statement relating to the security interest granted to the Trust Collateral Agent hereunder or that has been terminated. The Issuer is not aware of any judgment or tax lien filings against it.

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

5. Good Title. Immediately prior to the pledge of the Receivables to the Trust Collateral Agent pursuant to this Indenture, the Issuer was the sole owner thereof and had good and indefeasible title thereto, free of any Lien and, upon execution and delivery of this Agreement, the Trust shall have good and indefeasible title to and will be the sole owner of such Receivables, free of any Lien. No Dealer or Third-Party Lender has a

 

Sch.A-1


participation in, or other right to receive, proceeds of any Receivable. The Issuer has not taken any action to convey any right to any Person that would result in such Person having a right to payments received under the related Insurance Policies or the related Dealer Agreements, Auto Loan Purchase and Sale Agreements, Dealer Assignments or Third-Party Lender Assignments or to payments due under such Receivables.

6. Possession of Original Copy. The Servicer, as Custodian on behalf of the Issuer, has in its possession or control the original contract (or with respect to “electronic chattel paper”, the authoritative copy) that constitutes or evidences the Receivable.

7. One Original. There is only one original executed copy (or with respect to “electronic chattel paper”, one authoritative copy) of each Contract. With respect to Contracts that are “electronic chattel paper”, each authoritative copy (a) is unique, identifiable and unalterable (other than with the participation of the Trust Collateral Agent in the case of an addition or amendment of an identified assignee and other than a revision that is readily identifiable as an authorized or unauthorized revision), (b) has been marked with a legend to the following effect: “Authoritative Copy” and (c) has been communicated to and is maintained by or on behalf of the Custodian.

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

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

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

 

Sch.A-2

EX-4.2 3 dex42.htm AMENDED AND RESTATED TRUST AGREEMENT, DATED AS OF FEBRUARY 2, 2010 Amended and Restated Trust Agreement, dated as of February 2, 2010

Exhibit 4.2

Execution Copy

 

 

 

AMENDED AND RESTATED

TRUST AGREEMENT

between

AFS SENSUB CORP.

Seller

and

WILMINGTON TRUST COMPANY

Owner Trustee

Dated as of February 2, 2010

 

 

 


TABLE OF CONTENTS

 

ARTICLE I. DEFINITIONS

   1

SECTION 1.1.

  

Capitalized Terms

   1

SECTION 1.2.

  

Other Definitional Provisions

   3

ARTICLE II. ORGANIZATION

   4

SECTION 2.1.

  

Name

   4

SECTION 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

SECTION 2.12.

  

Derivative Contracts

   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

   11

SECTION 3.8.

  

Disposition in Whole But Not in Part

   12

SECTION 3.9.

  

ERISA Restrictions

   12

ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS

   12

SECTION 4.1.

  

Prior Notice to Holder with Respect to Certain Matters

   12

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]

   13

SECTION 4.5.

  

Action with Respect to Bankruptcy Action

   14

SECTION 4.6.

  

Covenants and Restrictions on Conduct of Business

   14

ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE

   16

SECTION 5.1.

  

General Authority

   16

SECTION 5.2.

  

General Duties

   16

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

   18

ARTICLE VI. CONCERNING THE OWNER TRUSTEE

   18

SECTION 6.1.

  

Acceptance of Trusts and Duties

   18

SECTION 6.2.

  

Furnishing of Documents

   20

SECTION 6.3.

  

Representations and Warranties

   20

SECTION 6.4.

  

Reliance; Advice of Counsel

   20

SECTION 6.5.

  

Not Acting in Individual Capacity

   21

SECTION 6.6.

  

Owner Trustee Not Liable for Certificate or Receivables

   21

SECTION 6.7.

  

Owner Trustee May Own Notes

   22

SECTION 6.8.

  

Payments from Owner Trust Estate

   22

SECTION 6.9.

  

Doing Business in Other Jurisdictions

   22

ARTICLE VII. COMPENSATION OF OWNER TRUSTEE

   22

SECTION 7.1.

  

Owner Trustee’s Fees and Expenses

   22

SECTION 7.2.

  

Indemnification

   23

SECTION 7.3.

  

Payments to the Owner Trustee

   23

SECTION 7.4.

  

Non-recourse Obligations

   23

ARTICLE VIII. TERMINATION OF TRUST AGREEMENT

   23

SECTION 8.1.

  

Termination of Trust Agreement

   23

ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES

   25

SECTION 9.1.

  

Eligibility Requirements for Owner Trustee

   25

SECTION 9.2.

  

Resignation or Removal of Owner Trustee

   25

SECTION 9.3.

  

Successor Owner Trustee

   26

SECTION 9.4.

  

Merger or Consolidation of Owner Trustee

   26

SECTION 9.5.

  

Appointment of Co-Trustee or Separate Trustee

   26

ARTICLE X. MISCELLANEOUS

   28

SECTION 10.1.

  

Supplements and Amendments

   28

SECTION 10.2.

  

No Legal Title to Owner Trust Estate in Certificateholder

   29

SECTION 10.3.

  

Limitations on Rights of Others

   29

SECTION 10.4.

  

Notices

   29

SECTION 10.5.

  

Severability

   29

SECTION 10.6.

  

Separate Counterparts

   30

SECTION 10.7.

  

Assignments

   30

SECTION 10.8.

  

No Recourse

   30

SECTION 10.9.

  

Headings

   30

SECTION 10.10.

  

GOVERNING LAW

   30

SECTION 10.11.

  

Servicer

   30

SECTION 10.12.

  

Nonpetition Covenants

   30

SECTION 10.13.

  

Regulation AB

   31

 

ii


EXHIBITS

 

EXHIBIT A    FORM OF CERTIFICATE
EXHIBIT B    FORM OF CERTIFICATE OF TRUST

 

iii


This AMENDED AND RESTATED TRUST AGREEMENT, dated as of February 2, 2010, between AFS SENSUB CORP., a Nevada corporation, as depositor (the “Seller”), and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement dated as of January 11, 2010 between the Seller and the Owner Trustee.

ARTICLE I.

Definitions

SECTION 1.1. Capitalized Terms. For all purposes of this Agreement, the following terms shall have the meanings set forth below:

AmeriCredit” shall mean AmeriCredit Financial Services, Inc.

Agreement” shall mean this Trust Agreement, as the same may be amended and supplemented from time to time.

Bankruptcy Action” shall have the meaning assigned to such term in Section 4.5(a).

Basic Documents” shall mean this Agreement, the Certificate of Trust, the Sale and Servicing Agreement, the Indenture, the Underwriting Agreement, the Lockbox Account Agreement, the Lockbox Processing Agreement, the Custodian Agreement and the other documents and certificates delivered in connection therewith, as the same may be amended, restated or supplemented from time to time.

Benefit Plan” shall have the meaning assigned to such term in Section 3.9.

Certificate” means a trust certificate evidencing the beneficial interest of a Certificateholder in the Trust, substantially in the form of Exhibit A attached hereto.

Certificateholder” or “Holder” shall mean the person in whose name a Certificate is registered on the Certificate Register.

Certificate of Trust” shall mean the Certificate of Trust in the form of Exhibit B to be filed for the Trust pursuant to Section 3810(a) of the Statutory Trust Statute.

Certificate Register” and “Certificate Registrar” shall mean the register mentioned and the registrar appointed pursuant to Section 3.4.

Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and Treasury Regulations promulgated thereunder.

Corporate Trust Office” shall mean, with respect to the Owner Trustee, the principal corporate trust office of the Owner Trustee located at Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890-0001, Attention: Corporate Trust Administration, or at such other address as the Owner Trustee may designate by notice to the Depositor, or the principal corporate trust office of any successor Owner Trustee (the address of which the successor owner trustee will notify the Depositor).


Depositor” shall mean the Seller in its capacity as Depositor hereunder.

Derivative Contract” means any ISDA Master Agreement, together with the related Schedule and Confirmation, entered into by the Trust and a Derivative Counterparty in accordance with Section 2.12, as the same may be amended or supplemented from time to time.

Derivative Contract Collection Account” has the meaning specified in Section 2.12.

Derivative Counterparty” means any counterparty to a Derivative Contract as provided in Section 2.12.

Distribution Date” shall have the meaning set forth in the Sale and Servicing Agreement.

ERISA” shall have the meaning assigned to such term in Section 3.9.

Expenses” shall have the meaning assigned to such term in Section 7.2.

Indemnified Parties” shall have the meaning assigned to such term in Section 7.2.

Indenture” shall mean the Indenture dated as of February 2, 2010, between the Trust and Wells Fargo Bank, National Association, as Trust Collateral Agent and Trustee, as the same may be amended and supplemented from time to time.

Owner Trust Estate” shall mean all right, title and interest of the Trust in and to the property and rights assigned to the Trust pursuant to Article II of the Sale and Servicing Agreement, all funds on deposit from time to time in the Trust Accounts and all other property of the Trust from time to time, including any rights of the Trust pursuant to the Sale and Servicing Agreement.

Owner Trustee” shall mean Wilmington Trust Company, a Delaware banking corporation, not in its individual capacity but solely as owner trustee under this Agreement, and any successor Owner Trustee hereunder.

Record Date” shall mean with respect to any Distribution Date, the close of business on the last Business Day immediately preceding such Distribution Date.

Responsible Officer” shall mean, with respect to the Owner Trustee, any officer within the Corporate Trust Administration office of the Owner Trustee with direct responsibility for the administration of the Trust and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject.

 

2


Sale and Servicing Agreement” shall mean the Sale and Servicing Agreement dated as of February 2, 2010, among the Trust, the Seller, AmeriCredit Financial Services, Inc., and Wells Fargo Bank, National Association, as Backup Servicer and Trust Collateral Agent, as the same may be amended and supplemented from time to time.

Secretary of State” shall mean the Secretary of State of the State of Delaware.

Statutory Trust Statute” shall mean Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code § 3801 et seq. as the same may be amended from time to time.

TALF” shall have the meaning assigned to such term in Section 10.11.

Treasury Regulations” shall mean regulations, including proposed or temporary regulations, promulgated under the Code. References herein to specific provisions of proposed or temporary regulations shall include analogous provisions of final Treasury Regulations or other successor Treasury Regulations.

Trust” shall mean the trust established by this Agreement.

Trust Collateral Agent” shall mean, initially, Wells Fargo Bank, National Association, in its capacity as collateral agent, including its successors in interest, until and unless a successor Person shall have become the Trust Collateral Agent pursuant to the Sale and Servicing Agreement, and thereafter “Trust Collateral Agent” shall mean such successor Person.

SECTION 1.2. Other Definitional Provisions.

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

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

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

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

 

3


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

ARTICLE II.

Organization

SECTION 2.1. Name

There is hereby continued a Delaware statutory trust to be known as “AmeriCredit Automobile Receivables Trust 2010-1,” in which name the Owner Trustee may conduct the business of the Trust, make and execute contracts and other instruments on behalf of the Trust and sue and be sued.

SECTION 2.2. Office

The office of the Trust shall be in care of the Owner Trustee at the Corporate Trust Office or at such other address as the Owner Trustee may designate by written notice to the Certificateholder.

SECTION 2.3. Purposes and Powers.

The purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities:

(i) to issue the Notes pursuant to the Indenture and the Certificate pursuant to this Agreement, and to sell the Notes;

(ii) with the proceeds of the sale of the Notes, to fund the Reserve Account and to pay the organizational, start-up and transactional expenses of the Trust and to pay the balance to the Depositor pursuant to the Sale and Servicing Agreement;

(iii) to acquire from time to time the Owner Trust Estate, to assign, grant, transfer, pledge, mortgage and convey the Owner Trust Estate to the Trust Collateral Agent pursuant to the Indenture for the benefit of the Indenture Trustee on behalf of the Noteholders and to hold, manage and distribute to the Certificateholder pursuant to the terms of the Sale and Servicing Agreement any portion of the Owner Trust Estate released from the Lien of, and remitted to the Trust pursuant to, the Indenture;

(iv) at the direction of the Seller and subject to the requirements set forth in Section 2.12 hereof, to enter into Derivative Contracts for the benefit of the Certificateholder;

 

4


(v) to enter into and perform its obligations under the Basic Documents to which it is a party;

(vi) to engage in those activities, including entering into agreements, that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith (including the sale, from time to time, of Receivables at the direction of the Servicer pursuant to Section 4.3(c) of the Sale and Servicing Agreement), the filing of state business licenses (and any renewal thereof) as prepared and instructed by the Certificateholder or Servicer, including a Sales Finance Company Application (and any renewal thereof) with the Pennsylvania Department of Banking, Licensing Division, and a Financial Regulation Application (and any renewal thereof) with the Maryland Department of Labor, Licensing and Regulation, and the completion of any required documentation required to qualify some or all of the Notes as “eligible collateral” under TALF; and

(vii) subject to compliance with the Basic Documents, to engage in such other activities as may be required in connection with conservation of the Owner Trust Estate and the making of distributions to the Certificateholder and the Noteholders.

The Trust is hereby authorized to engage in the foregoing activities. The Trust shall not engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement or the Basic Documents.

SECTION 2.4. Appointment of Owner Trustee

The Depositor hereby appoints the Owner Trustee as trustee of the Trust effective as of the date hereof, to have all the rights, powers and duties set forth herein. The Owner Trustee hereby accepts such appointment.

SECTION 2.5. Initial Capital Contribution of Trust Estate

The Owner Trustee hereby acknowledges receipt in trust from the Depositor of the sum of $1,000 which contribution shall constitute the initial Owner Trust Estate. The Depositor acknowledges that such contribution has been transferred to, and is being held by, Wells Fargo Bank, National Association, as agent for the Trust in an account established by Wells Fargo Bank, National Association, on behalf of the Trust, which contribution shall constitute the initial Owner Trust Estate. The Depositor shall pay organizational expenses of the Trust as they may arise.

SECTION 2.6. Declaration of Trust

The Owner Trustee hereby declares that it will hold the Owner Trust Estate in trust upon and subject to the conditions set forth herein for the use and benefit of the Holder, subject to the obligations of the Trust under the Basic Documents. It is the intention of the parties hereto that the Trust constitute a statutory trust under the Statutory Trust Statute and that this Agreement constitute the governing instrument of such statutory trust. Effective as of the date hereof, the Owner Trustee shall have all rights, powers and duties set forth herein and to the extent not inconsistent herewith, in the Statutory Trust Statute with respect to accomplishing the purposes of the Trust. The Owner Trustee has filed the Certificate of Trust with the Secretary of State and such filing is hereby ratified in all respects.

 

5


The Holder shall not have any personal liability for any liability or obligation of the Trust.

SECTION 2.7. Title to Trust Property.

(a) Legal title to all the Owner Trust Estate shall be vested at all times in the Trust as a separate legal entity except where applicable law in any jurisdiction requires title to any part of the Owner Trust Estate to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Owner Trustee, a co-trustee and/or a separate trustee, as the case may be.

(b) The Holder shall not have legal title to any part of the Trust Property. The Holder shall be entitled to receive distributions with respect to its undivided ownership interest therein only in accordance with Article VIII. No transfer, by operation of law or otherwise, of any right, title or interest by the Certificateholder of its ownership interest in the Owner Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Trust Property.

SECTION 2.8. Situs of Trust

The Trust will be located and administered in the State of Delaware. All bank accounts maintained by the Owner Trustee on behalf of the Trust shall be located in the State of Delaware or the State of New York. Payments will be received by the Trust only in Delaware or New York and payments will be made by the Trust only from Delaware or New York. The Trust shall not have any employees in any state other than Delaware; provided, however, that nothing herein shall restrict or prohibit the Owner Trustee, the Servicer or any agent of the Trust from having employees within or outside the State of Delaware. The only office of the Trust will be at the Corporate Trust Office located in Delaware.

SECTION 2.9. Representations and Warranties of the Depositor

The Depositor makes the following representations and warranties on which the Owner Trustee relies in accepting the Owner Trust Estate in trust and issuing the Certificate.

(a) Organization and Good Standing. The Depositor is duly organized and validly existing as a Nevada corporation with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted and is proposed to be conducted pursuant to this Agreement and the Basic Documents.

(b) Due Qualification. The Depositor is duly qualified to do business as a foreign corporation, is in good standing, and has obtained all necessary licenses and approvals, in all jurisdictions in which the ownership or lease of its property, the conduct of its business and the performance of its obligations under this Agreement and the Basic Documents requires such qualification.

 

6


(c) Power and Authority. The Depositor has the corporate power and authority to execute and deliver this Agreement and to carry out its terms; the Depositor has full power and authority to sell and assign the property to be sold and assigned to and deposited with the Trust and the Depositor has duly authorized such sale and assignment and deposit to the Trust by all necessary action; and the execution, delivery and performance of this Agreement has been duly authorized by the Depositor by all necessary action.

(d) No Consent Required. No consent, license, approval or authorization or registration or declaration with, any Person or with any governmental authority, bureau or agency is required in connection with the execution, delivery or performance of this Agreement and the Basic Documents, except for such as have been obtained, effected or made.

(e) No Violation. The consummation of the transactions contemplated by this Agreement and the fulfillment of the terms hereof do not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under the certificate of incorporation or by-laws of the Depositor, or any material indenture, agreement or other instrument to which the Depositor is a party or by which it is bound; nor result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement or other instrument (other than pursuant to the Basic Documents); nor violate any law or, to the best of the Depositor’s knowledge, any order, rule or regulation applicable to the Depositor of any court or of any federal or state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Depositor or its properties.

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

SECTION 2.10. Covenants of the Certificateholder

The Certificateholder agrees:

(a) to be bound by the terms and conditions of the Certificate of which the Holder is the beneficial owner and of this Agreement, including any supplements or amendments hereto and to perform the obligations of a Holder as set forth therein or herein, in all respects as if it were a signatory hereto. This undertaking is made for the benefit of the Trust and the Owner Trustee; and

 

7


(b) until the completion of the events specified in Section 8.1(d), not to, for any reason, institute proceedings for the Trust to be adjudicated bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against the Trust, or file a petition seeking or consenting to reorganization or relief under any applicable federal or state law relating to bankruptcy, or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Trust or a substantial part of its property, or cause or permit the Trust to make any assignment for the benefit of its creditors, or admit in writing its inability to pay its debts generally as they become due, or declare or effect a moratorium on its debt or take any action in furtherance of any such action.

SECTION 2.11. Federal Income Tax Treatment of the Trust.

(a) For so long as the Trust has a single owner for federal income tax purposes, it will, pursuant to Treasury Regulations promulgated under section 7701 of the Code, be disregarded as an entity distinct from the Certificateholder for all federal income tax purposes. Accordingly, for federal income tax purposes, the Certificateholder will be treated as (i) owning all assets owned by the Trust and (ii) having incurred all liabilities incurred by the Trust, and all transactions between the Trust and the Certificateholder will be disregarded.

(b) Neither the Owner Trustee nor any Certificateholder will, under any circumstances, and at any time, make an election on IRS Form 8832 or otherwise, to classify the Trust as an association taxable as a corporation for federal, state or any other applicable tax purpose.

(c) In the event that the Trust has two or more equity owners for federal income tax purposes, the Trust will be treated as a partnership. At any such time that the Trust has two or more equity owners, this Agreement will be amended, in accordance with Section 10.1 herein, and appropriate provisions will be added so as to provide for treatment of the Trust as a partnership.

SECTION 2.12. Derivative Contracts.

(a) The Trust, at the direction of the Seller, shall execute and deliver Derivative Contracts in such form as the Seller shall approve, as evidenced conclusively by the Trust’s execution thereof, such Derivative Contracts being solely for the benefit of the Certificateholder; provided, however, that neither the execution and delivery of any such Derivative Contract nor the consummation of any transaction contemplated thereunder shall give rise to a non-exempt prohibited transaction described in Section 406 of ERISA or 4975(c)(1) of the Code. Any such Derivative Contract shall constitute a fully prepaid agreement. Any acquisition of a Derivative Contract shall be accompanied by confirmation from the Rating Agencies that the then current rating of the Notes will not be qualified, reduced or withdrawn as a result of the acquisition of such Derivative Contract. Prior to the acquisition of any Derivative Contracts by the Trust, the Trust at the direction and expense of the Seller, shall establish and maintain in its own name an Eligible Deposit Account (the “Derivative Contract Collection Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Trust on behalf of the Certificateholder. All collections, proceeds and other amounts in respect of the Derivative Contracts payable by the Derivative Counterparty shall be deposited into the Derivative Contract Collection Account for distribution to the Certificateholder on the Distribution Date following receipt thereof by the Trust in accordance with Section 5.7(a) of the Sale and Servicing Agreement.

 

8


(b) No Derivative Contract shall provide for any payment obligation on the part of the Trust. Each Derivative Contract must (i) contain a non-petition covenant from the Derivative Counterparty, (ii) limit payment dates thereunder to Payment Dates and (iii) contain a provision limiting any cash payments due to the Derivative Counterparty under such Derivative Contract solely to payments made upon the execution of the Derivative Contract in accordance with subclause (a) above that are paid from amounts on deposit in the Collection Account that are available to make payments to the Certificateholder on such Payment Date in accordance with Section 5.7(a) of the Sale and Servicing Agreement.

(c) In addition to the requirements contained in subclause (a) above, each Derivative Contract must (i) provide for the direct payment of any amounts by the Derivative Counterparty thereunder to the Collection Account at least one Business Day prior to the related Payment Date, (ii) provide that in the event of the occurrence of an Event of Default, such Derivative Contract shall terminate upon the direction of a majority percentage interest of the Certificateholders, (iii) prohibit the Derivative Counterparty from “setting-off” or “netting” other obligations of the Trust and its Affiliates against such Derivative Counterparty’s payment obligations thereunder and (iv) satisfy the Rating Agency Condition.

ARTICLE III.

Certificate and Transfer of Interest

SECTION 3.1. Initial Ownership

Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Certificate to the initial Certificateholder, the Depositor shall be the sole beneficiary of the Trust.

SECTION 3.2. The Certificate

The Certificate shall be executed on behalf of the Trust by manual or facsimile signature of an authorized officer of the Owner Trustee. A Certificate bearing the manual or facsimile signatures of individuals who were, at the time when such signatures shall have been affixed, authorized to sign on behalf of the Trust, shall be validly issued and entitled to the benefit of this Agreement, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the authentication and delivery of such Certificate or did not hold such offices at the date of authentication and delivery of such Certificate. A transferee of a Certificate shall become a Certificateholder, and shall be entitled to the rights and subject to the obligations of a Certificateholder hereunder, upon due registration of such Certificate in such transferee’s name pursuant to Section 3.4.

 

9


SECTION 3.3. Authentication of Certificate

Concurrently with the sale of the Receivables to the Trust pursuant to the Sale and Servicing Agreement, the Owner Trustee shall cause the Certificate to be executed on behalf of the Trust, authenticated and delivered to or upon the written order of the Depositor, signed by its chairman of the board, its president or any vice president, its treasurer or any assistant treasurer without further corporate action by the Depositor, in authorized denominations. No Certificate shall entitle its holder to any benefit under this Agreement, or shall be valid for any purpose, unless there shall appear on such Certificate a certificate of authentication substantially in the form set forth in Exhibit A, executed by the Owner Trustee or the Owner Trustee’s authentication agent, by manual signature; such authentication shall constitute conclusive evidence that such Certificate shall have been duly authenticated and delivered hereunder. The Certificate shall be dated the date of its authentication.

SECTION 3.4. Registration of Transfer and Exchange of Certificate

The Certificate Registrar shall keep or cause to be kept, at the office or agency maintained pursuant to Section 3.7, a Certificate Register in which, subject to such reasonable regulations as it may prescribe, the Owner Trustee shall provide for the registration of the Certificate and of transfers and exchanges of the Certificate as herein provided. Wilmington Trust Company shall be the initial Certificate Registrar.

The Certificate Registrar shall provide the Trust Collateral Agent with the name and address of the Certificateholder on the Closing Date. Upon any transfers of the Certificate, the Certificate Registrar shall notify the Trust Collateral Agent of the name and address of the transferee in writing, by facsimile, on the day of such transfer.

Upon surrender for registration of transfer of the Certificate at the office or agency maintained pursuant to Section 3.7, the Owner Trustee shall execute, authenticate and deliver (or shall cause its authenticating agent to authenticate and deliver), in the name of the designated transferee, a new Certificate dated the date of authentication by the Owner Trustee or any authenticating agent.

A Certificate presented or surrendered for registration of transfer or exchange shall be accompanied by a written instrument of transfer in form satisfactory to the Owner Trustee and the Certificate Registrar duly executed by the Certificateholder or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Certificate Registrar, which requirements include membership or participation in the Securities Transfer Agent’s Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Certificate Registrar in addition to, or in substitution for, STAMP, all in accordance with the Exchange Act. Each Certificate surrendered for registration of transfer or exchange shall be canceled and subsequently disposed of by the Owner Trustee in accordance with its customary practice.

No service charge shall be made for any registration of transfer or exchange of the Certificate, but the Owner Trustee or the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer or exchange of the Certificate.

 

10


Notwithstanding the foregoing, no sale or transfer of a Certificate shall be permitted (including, without limitation, by pledge or hypothecation), and no such sale or transfer shall be registered by the Certificate Registrar to be effective hereunder, if the sale or transfer thereof increases the number of Certificateholders to more than ninety-nine (99). For purposes of determining the total number of Certificateholders, a beneficial owner of an interest in a partnership, grantor trust, S corporation or other flow-through entity that owns, directly or through other flow-through entities, a Certificate is treated as a holder of a Certificate if (i) substantially all of the value of the beneficial owner’s interest (directly or indirectly) in the flow-through entity is attributed to the flow-through entity’s interest in the Certificate and (ii) a principal purpose of the use of the flow-through entity to hold the Certificate is to satisfy the 99 holder limitation set out above.

SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates

If (a) any mutilated Certificate shall be surrendered to the Certificate Registrar, or if the Certificate Registrar shall receive evidence to its satisfaction of the destruction, loss or theft of any Certificate and (b) there shall be delivered to the Certificate Registrar and the Owner Trustee, such security or indemnity as may be required by them to save each of them harmless, then in the absence of notice that such Certificate shall have been acquired by a bona fide purchaser, the Owner Trustee on behalf of the Trust shall execute and the Owner Trustee, or Wilmington Trust Company, as the Owner Trustee’s authenticating agent, shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate of like class, tenor and denomination. In connection with the issuance of any new Certificate under this Section, the Owner Trustee or the Certificate Registrar may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. Any duplicate Certificate issued pursuant to this Section shall constitute conclusive evidence of an ownership interest in the Trust, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time.

SECTION 3.6. Persons Deemed Certificateholders

Every Person by virtue of becoming a Certificateholder in accordance with this Agreement shall be deemed to be bound by the terms of this Agreement. Prior to due presentation of the Certificate for registration of transfer, the Owner Trustee and the Certificate Registrar and any agent of the Owner Trustee and the Certificate Registrar, may treat the person in whose name any Certificate shall be registered in the Certificate Register as the owner of such Certificate for the purpose of receiving distributions pursuant to the Sale and Servicing Agreement and for all other purposes whatsoever, and none of the Owner Trustee or the Certificate Registrar nor any agent of the Owner Trustee or the Certificate Registrar shall be bound by any notice to the contrary.

SECTION 3.7. Maintenance of Office or Agency

The Owner Trustee shall maintain an office or offices or agency or agencies where the Certificate may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Owner Trustee in respect of the Certificate and the Basic Documents may be served. The Owner Trustee initially designates the Corporate Trust Office for such purposes. The Owner Trustee shall give prompt written notice to the Depositor and the Certificateholder of any change in the location of the Certificate Register or any such office or agency.

 

11


SECTION 3.8. Disposition in Whole But Not in Part

The Certificate may be transferred in whole but not in part. Any attempted transfer of the Certificate that would divide the ownership of the Owner Trust Estate shall be void. The Owner Trustee shall cause any Certificate issued to contain a legend stating “THIS CERTIFICATE IS NOT TRANSFERABLE, EXCEPT UNDER THE LIMITED CONDITIONS SPECIFIED IN THE TRUST AGREEMENT.”

SECTION 3.9. ERISA Restrictions

The Certificate may not be acquired by or for the account of (i) an employee benefit plan (as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”)) that is subject to the provisions of Title I of ERISA, (ii) a plan (as defined in Section 4975(e)(1) of the Code) that is subject to Section 4975 of the Code, (iii) any entity whose underlying assets include assets of a plan described in (i) or (ii) above by reason of such plan’s investment in the entity, or (iv) an employee benefit plan subject to any federal, state, local or non-U.S. laws or regulations substantially similar to Title I of ERISA or Section 4975 of the Code (each, a “Benefit Plan”). By accepting and holding its beneficial ownership interest in its Certificate, the Holder thereof shall be deemed to have represented and warranted that it is not a Benefit Plan.

ARTICLE IV.

Voting Rights and Other Actions

SECTION 4.1. Prior Notice to Holder with Respect to Certain Matters

With respect to the following matters, the Owner Trustee shall not take action unless at least 30 days before the taking of such action, the Owner Trustee shall have notified the Certificateholder in writing of the proposed action and the Certificateholder shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that the Certificateholder has withheld consent or provided alternative direction:

(a) the election by the Trust to file an amendment to the Certificate of Trust (unless such amendment is required to be filed under the Statutory Trust Statute or unless such amendment would not materially and adversely affect the interests of the Holder);

(b) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is required;

(c) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is not required and such amendment materially adversely affects the interest of the Certificateholder; or

 

12


(d) except pursuant to Section 12.1(b) of the Sale and Servicing Agreement, the amendment, change or modification of the Sale and Servicing Agreement, except to cure any ambiguity or defect or to amend or supplement any provision in a manner that would not materially adversely affect the interests of the Certificateholder.

The Owner Trustee shall notify the Certificateholder in writing of any appointment of a successor Note Registrar or Trust Collateral Agent within five Business Days after receipt of notice thereof.

SECTION 4.2. Action by Certificateholder with Respect to Certain Matters

The Owner Trustee shall not have the power, except upon the direction of the Certificateholder in accordance with the Basic Documents, to (a) remove the Servicer under the Sale and Servicing Agreement pursuant to Section 9.2 thereof or (b) except as expressly provided in the Basic Documents, sell the Receivables after the termination of the Indenture. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Certificateholder and the furnishing of indemnification satisfactory to the Owner Trustee by the Certificateholder.

SECTION 4.3. Restrictions on Certificateholder’s Power.

(a) The Certificateholder shall not direct the Owner Trustee to take or refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this Agreement or any of the Basic Documents or would be contrary to Section 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given.

(b) The Certificateholder shall not have any right by virtue or by availing itself of any provisions of this Agreement to institute any suit, action, or proceeding in equity or at law upon or under or with respect to this Agreement or any Basic Document, unless the Certificateholder previously shall have given to the Owner Trustee a written notice of default and of the continuance thereof, as provided in this Agreement, and also unless the Certificateholder shall have made written request upon the Owner Trustee to institute such action, suit or proceeding in its own name as Owner Trustee under this Agreement and shall have offered to the Owner Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby, and the Owner Trustee, for 30 days after its receipt of such notice, request, and offer of indemnity, shall have neglected or refused to institute any such action, suit, or proceeding, and during such 30-day period no request or waiver inconsistent with such written request has been given to the Owner Trustee pursuant to and in compliance with this Section or Section 5.3. For the protection and enforcement of the provisions of this Section, the Certificateholder and the Owner Trustee shall be entitled to such relief as can be given either at law or in equity.

SECTION 4.4. [Reserved]

 

13


SECTION 4.5. Action with Respect to Bankruptcy Action

(a) The Trust shall not, without the prior written consent of the Owner Trustee, (a) institute any proceedings to adjudicate the Trust a bankrupt or insolvent, (b) consent to the institution of bankruptcy or insolvency proceedings against the Trust, (c) file a petition seeking or consenting to reorganization or relief under any applicable federal or state law relating to bankruptcy with respect to the Trust, (d) consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Trust or a substantial part of its property, (e) make any assignment for the benefit of the Trust’s creditors; (f) cause the Trust to admit in writing its inability to pay its debts generally as they become due; or (g) take any action in furtherance of any of the foregoing (any of the above foregoing actions, a “Bankruptcy Action”). In considering whether to give or withhold written consent to a Bankruptcy Action by the Trust, the Owner Trustee, with the consent of the Certificateholders (hereby given, which consent the Certificateholders believe to be in the best interests of the Certificateholders and the Trust), shall consider the interest of the Noteholders in addition to the interests of the Trust and whether the Trust is insolvent; provided, however, that the Owner Trustee shall not be deemed to owe any fiduciary duty to the Noteholders. The Owner Trustee shall have no duty to give such written consent to a Bankruptcy Action by the Trust if the Owner Trustee shall not have been furnished (at the expense of the Trust or the Person that requested that such letter be furnished to the Owner Trustee) with a letter from an independent accounting firm of national reputation stating that in the opinion of such firm the Trust is then insolvent. The Owner Trustee (as such and in its individual capacity) shall not be personally liable to any Person on account of the Owner Trustee’s good faith reliance on the provisions of this Section or in connection with the Owner Trustee’s giving prior written consent to a Bankruptcy Action by the Trust in accordance herewith, or withholding such consent, in good faith, and neither the Trust nor any Certificateholder shall have any claim for breach of fiduciary duty or otherwise against the Owner Trustee (as such and in its individual capacity) for giving or withholding its consent to any such Bankruptcy Action.

(b) The parties hereto stipulate and agree that no Certificateholder has power to commence any Bankruptcy Action on the part of the Trust or to direct the Owner Trustee to take any Bankruptcy Action on the part of the Trust except as provided in Section 4.5(a). To the extent permitted by applicable law, the consent of the Trust Collateral Agent shall be obtained prior to taking any Bankruptcy Action by the Trust.

(c) The provisions of this Section do not constitute an acknowledgement or admission by the Trust, the Owner Trustee, any Certificateholder or any creditor of the Trust that the Trust is eligible to be a debtor, under the United States Bankruptcy Code, 11 U.S.C. §§ 101 et seq., as amended.

SECTION 4.6. Covenants and Restrictions on Conduct of Business.

(a) The Trust agrees to abide by the following restrictions:

(i) other than as contemplated by the Basic Documents and related documentation, the Trust shall not incur any indebtedness;

(ii) other than as contemplated by the Basic Documents and related documentation, the Trust shall not engage in any dissolution, liquidation, consolidation, merger or sale of assets;

 

14


(iii) the Trust shall not engage in any business activity in which it is not currently engaged other than as contemplated by the Basic Documents and related documentation; and

(iv) the Trust shall not form, or cause to be formed, any subsidiaries and shall not own or acquire any asset other than as contemplated by the Basic Documents and related documentation.

(b) The Trust shall:

(i) maintain books and records separate from any other person or entity;

(ii) maintain its office and bank accounts separate from any other person or entity;

(iii) not commingle its assets with those of any other person or entity;

(iv) conduct its own business in its own name and use stationery or other business forms under its own name and not that of any Certificateholder or any Affiliate;

(v) other than as contemplated by the Basic Documents and related documentation, pay its own liabilities and expenses only out of its own funds;

(vi) observe all formalities required under the Statutory Trust Statute;

(vii) not guarantee or become obligated for the debts of any other person or entity;

(viii) not hold out its credit as being available to satisfy the obligation of any other person or entity;

(ix) not acquire the obligations or securities of its Certificateholders or its Affiliates;

(x) other than as contemplated by the Basic Documents and related documentation, not make loans to any other person or entity or buy or hold evidence of indebtedness issued by any other person or entity;

(xi) other than as contemplated by the Basic Documents and related documentation, not pledge its assets for the benefit of any other person or entity;

(xii) hold itself out as a separate entity from each Certificateholder and not conduct any business in the name of any Certificateholder;

(xiii) correct any known misunderstanding regarding its separate identity;

(xiv) not identify itself as a division (other than for tax reporting purposes) of any other person or entity; and

 

15


(xv) except as required or specifically provided in the Trust Agreement, the Trust will conduct business with the Certificateholders or any Affiliate thereof on an arm’s length basis.

(c) So long as the Notes or any other amounts owed under the Indenture remain outstanding, the Trust shall not amend this Section 4.6 unless the Rating Agency Condition has been satisfied.

ARTICLE V.

Authority and Duties of Owner Trustee

SECTION 5.1. General Authority.

(a) The Owner Trustee is authorized and directed to execute and deliver the Basic Documents to which the Trust is named as a party, each certificate or other document attached as an exhibit to or contemplated by the Basic Documents to which the Trust is named as a party and any amendment thereto and on behalf of the Trust, each state business license (and any renewal thereof) prepared by the Certificateholder or Servicer, including a Sales Finance Company Application (and any renewal thereof) with the Pennsylvania Department of Banking, Licensing Division, and a Financial Regulation Application (and any renewal thereof) with the Maryland Department of Labor, Licensing and Regulation, in each case, in such form as the Depositor shall approve as evidenced conclusively by the Owner Trustee’s execution thereof, and on behalf of the Trust, to direct the Indenture Trustee to authenticate and deliver Class A-1 Notes in the aggregate principal amount of $132,600,000, Class A-2 Notes in the aggregate principal amount of $147,540,000, Class A-3 Notes in the aggregate principal amount of $123,300,000, the Class B Notes in the aggregate principal amount of $75,864,000, the Class C Notes in the aggregate principal amount of $79,308,000 and the Class D Notes in the aggregate principal amount of $41,388,000. In addition to the foregoing, the Owner Trustee is authorized, but shall not be obligated, to take all actions required of the Trust pursuant to the Basic Documents. The Owner Trustee is further authorized from time to time to take such action as the Certificateholder recommends with respect to the Basic Documents so long as such activities are consistent with the terms of the Basic Documents.

(b) The Owner Trustee shall sign on behalf of the Trust any applicable tax returns of the Trust, unless applicable law requires a Certificateholder to sign such documents.

SECTION 5.2. General Duties

It shall be the duty of the Owner Trustee to discharge (or cause to be discharged) all of its responsibilities pursuant to the terms of this Agreement and the Sale and Servicing Agreement and to administer the Trust in the interest of the Holder, subject to the Basic Documents and in accordance with the provisions of this Agreement. Notwithstanding the foregoing, the Owner Trustee shall be deemed to have discharged its duties and responsibilities hereunder and under the Basic Documents to the extent the Servicer has agreed in the Sale and Servicing Agreement to perform any act or to discharge any duty of the Trust or the Owner Trustee hereunder or under any Basic Document, and the Owner Trustee shall not be liable for the default or failure of the Servicer to carry out its obligations under the Sale and Servicing Agreement.

 

16


SECTION 5.3. Action upon Instruction.

(a) Subject to Article IV, the Certificateholder shall have the exclusive right to direct the actions of the Owner Trustee in the management of the Trust, so long as such instructions are not inconsistent with the express terms set forth herein or in any Basic Document. The Certificateholder shall not instruct the Owner Trustee in a manner inconsistent with this Agreement or the Basic Documents.

(b) The Owner Trustee shall not be required to take any action hereunder or under any Basic Document if the Owner Trustee shall have reasonably determined, or shall have been advised by counsel, that such action is likely to result in liability on the part of the Owner Trustee or is contrary to the terms hereof or of any Basic Document or is otherwise contrary to law.

(c) Whenever the Owner Trustee is unable to decide between alternative courses of action permitted or required by the terms of this Agreement or any Basic Document, the Owner Trustee shall promptly give notice (in such form as shall be appropriate under the circumstances) to the Certificateholder requesting instruction as to the course of action to be adopted, and to the extent the Owner Trustee acts in good faith in accordance with any written instruction of the Certificateholder received, the Owner Trustee shall not be liable on account of such action to any Person. If the Owner Trustee shall not have received appropriate instruction within ten days of such notice (or within such shorter period of time as reasonably may be specified in such notice or may be necessary under the circumstances) it may, but shall be under no duty to, take or refrain from taking such action, not inconsistent with this Agreement or the Basic Documents, as it shall deem to be in the best interests of the Certificateholder, and shall have no liability to any Person for such action or inaction.

(d) In the event that the Owner Trustee is unsure as to the application of any provision of this Agreement or any Basic Document or any such provision is ambiguous as to its application, or is, or appears to be, in conflict with any other applicable provision, or in the event that this Agreement permits any determination by the Owner Trustee or is silent or is incomplete as to the course of action that the Owner Trustee is required to take with respect to a particular set of facts, the Owner Trustee may give notice (in such form as shall be appropriate under the circumstances) to the Certificateholder requesting instruction and, to the extent that the Owner Trustee acts or refrains from acting in good faith in accordance with any such instruction received, the Owner Trustee shall not be liable, on account of such action or inaction, to any Person. If the Owner Trustee shall not have received appropriate instruction within 10 days of such notice (or within such shorter period of time as reasonably may be specified in such notice or may be necessary under the circumstances) it may, but shall be under no duty to, take or refrain from taking such action, not inconsistent with this Agreement or the Basic Documents, as it shall deem to be in the best interests of the Certificateholder, and shall have no liability to any Person for such action or inaction.

 

17


SECTION 5.4. No Duties Except as Specified in this Agreement or in Instructions

The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee is a party, except as expressly provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 5.3; and no implied duties or obligations shall be read into this Agreement or any Basic Document against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to prepare or file any Commission filing (including any filings required pursuant to the Sarbanes-Oxley Act of 2002 or any rule or regulation promulgated thereunder) for the Trust or to record this Agreement or any Basic Document. The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee (solely in its individual capacity) and that are not related to the ownership or the administration of the Owner Trust Estate.

SECTION 5.5. No Action Except under Specified Documents or Instructions

The Owner Trustee shall not manage, control, use, sell, dispose of or otherwise deal with any part of the Owner Trust Estate except (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement, (ii) in accordance with the Basic Documents and (iii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 5.3.

SECTION 5.6. Restrictions

The Owner Trustee shall not take any action (a) that is inconsistent with the purposes of the Trust set forth in Section 2.3 or (b) that, to the actual knowledge of the Owner Trustee, would result in the Trust’s becoming taxable as a corporation for federal income tax purposes. The Certificateholder shall not direct the Owner Trustee to take action that would violate the provisions of this Section.

ARTICLE VI.

Concerning the Owner Trustee

SECTION 6.1. Acceptance of Trusts and Duties

The Owner Trustee accepts the trusts hereby created and agrees to perform its duties hereunder with respect to such trusts but only upon the terms of this Agreement. The Owner Trustee also agrees to disburse all moneys actually received by it constituting part of the Owner Trust Estate upon the terms of the Basic Documents and this Agreement. The Owner Trustee shall not be answerable or accountable hereunder or under any Basic Document under any circumstances, except (i) for its own willful misconduct, bad faith or negligence, (ii) in the

 

18


case of the inaccuracy of any representation or warranty contained in Section 6.3 expressly made by the Owner Trustee, (iii) for liabilities arising from the failure of the Owner Trustee to perform obligations expressly undertaken by it in the last sentence of Section 5.4 hereof, (iv) for any investments issued by the Owner Trustee or any branch or affiliate thereof in its commercial capacity or (v) for taxes, fees or other charges on, based on or measured by, any fees, commissions or compensation received by the Owner Trustee. In particular, but not by way of limitation (and subject to the exceptions set forth in the preceding sentence):

(a) the Owner Trustee shall not be liable for any error of judgment made by a Responsible Officer of the Owner Trustee (except in the case of willful misconduct, bad faith or negligence);

(b) the Owner Trustee shall not be liable with respect to any action taken or omitted to be taken by it in accordance with the instructions of the Servicer or the Certificateholder;

(c) no provision of this Agreement or any Basic Document shall require the Owner Trustee to expend or risk funds or otherwise incur any financial liability in the performance of any of its rights or powers hereunder or under any Basic Document if the Owner Trustee shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured or provided to it;

(d) under no circumstances shall the Owner Trustee be liable for indebtedness evidenced by or arising under any of the Basic Documents, including the principal of and interest on the Notes;

(e) the Owner Trustee shall not be responsible for or in respect of the validity or sufficiency of this Agreement or for the due execution hereof by the Depositor or for the form, character, genuineness, sufficiency, value or validity of any of the Owner Trust Estate or for or in respect of the validity or sufficiency of the Basic Documents or any Derivative Contract, other than the certificate of authentication on the Certificate, and the Owner Trustee shall in no event assume or incur any liability, duty or obligation to the Trustee, the Trust Collateral Agent, any Noteholder or to any Certificateholder, other than as expressly provided for herein and in the Basic Documents;

(f) the Owner Trustee shall not be liable for the default or misconduct of the Trustee, the Trust Collateral Agent or the Servicer under any of the Basic Documents or otherwise and the Owner Trustee shall have no obligation or liability to perform the obligations under this Agreement or the Basic Documents that are required to be performed by the Trustee under the Indenture or the Trust Collateral Agent or the Servicer under the Sale and Servicing Agreement; and

(g) the Owner Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Agreement, or to institute, conduct or defend any litigation under this Agreement or otherwise or in relation to this Agreement or any Basic Document, at the request, order or direction of the Certificateholder, unless the Certificateholder has offered to the Owner Trustee security or indemnity satisfactory to it against the costs, expenses and

 

19


liabilities that may be incurred by the Owner Trustee therein or thereby. The right of the Owner Trustee to perform any discretionary act enumerated in this Agreement or in any Basic Document shall not be construed as a duty, and the Owner Trustee shall not be answerable for other than its negligence, bad faith or willful misconduct in the performance of any such act.

SECTION 6.2. Furnishing of Documents

The Owner Trustee shall furnish to the Certificateholder promptly upon receipt of a written request therefor, duplicates or copies of all reports, notices, requests, demands, certificates, financial statements and any other instruments furnished to the Owner Trustee under the Basic Documents.

SECTION 6.3. Representations and Warranties

The Owner Trustee hereby represents and warrants to the Depositor and the Holder, that:

(a) It is a Delaware banking corporation, duly organized and validly existing in good standing under the laws of the State of Delaware. It has all requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement.

(b) It has taken all corporate action necessary to authorize the execution and delivery by it of this Agreement, and this Agreement will be executed and delivered by one of its officers who is duly authorized to execute and deliver this Agreement on its behalf.

(c) Neither the execution nor the delivery by it of this Agreement, nor the consummation by it of the transactions contemplated hereby nor compliance by it with any of the terms or provisions hereof will contravene any federal or Delaware state law, governmental rule or regulation governing the banking or trust powers of the Owner Trustee or any judgment or order binding on it, or constitute any default under its charter documents or by-laws or any indenture, mortgage, contract, agreement or instrument to which it is a party or by which any of its properties may be bound.

(d) The Agreement has been, or, when executed and delivered will have been, duly authorized, validly executed and delivered by the Owner Trustee and constitutes, a valid and binding agreement of the Owner Trustee, enforceable against the Owner Trustee in accordance with its terms, except to the extent that enforceability may (A) be subject to insolvency, reorganization, moratorium, or other similar laws, regulations or procedures of general applicability now or hereinafter in effect relating to or affecting creditor’s rights generally and (B) be limited by general principles of equity (whether considered in a proceeding at law or in equity).

SECTION 6.4. Reliance; Advice of Counsel.

(a) The Owner Trustee shall incur no liability to anyone in acting upon any signature, instrument, notice, resolution, request, consent, order, certificate, report, opinion, bond or other document or paper believed by it to be genuine and believed by it to be signed by the proper party or parties. The Owner Trustee may accept a certified copy of a resolution of the

 

20


board of directors or other governing body of any corporate party as conclusive evidence that such resolution has been duly adopted by such body and that the same is in full force and effect. As to any fact or matter the method of the determination of which is not specifically prescribed herein, the Owner Trustee may for all purposes hereof rely on a certificate, signed by the president or any vice president or by the treasurer, secretary or other authorized officers of the relevant party, as to such fact or matter, and such certificate shall constitute full protection to the Owner Trustee for any action taken or omitted to be taken by it in good faith in reliance thereon.

(b) In the exercise or administration of the trusts hereunder and in the performance of its duties and obligations under this Agreement or the Basic Documents, the Owner Trustee (i) may act directly or through its agents or attorneys pursuant to agreements entered into with any of them, and the Owner Trustee shall not be liable for the conduct or misconduct of such agents or attorneys if such agents or attorneys shall have been selected by the Owner Trustee with reasonable care, and (ii) may consult with counsel, accountants and other skilled persons to be selected with reasonable care and employed by it. The Owner Trustee shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the written opinion or advice of any such counsel, accountants or other such persons and according to such opinion not contrary to this Agreement or any Basic Document.

SECTION 6.5. Not Acting in Individual Capacity

Except as provided in this Article VI, in accepting the trust hereby created Wilmington Trust Company acts solely as Owner Trustee hereunder and not in its individual capacity and all Persons having any claim against the Owner Trustee by reason of the transactions contemplated by this Agreement or any Basic Document shall look only to the Owner Trust Estate for payment or satisfaction thereof.

SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables

The recitals contained herein and in the Certificate (other than the signature and countersignature of the Owner Trustee on the Certificate) shall be taken as the statements of the Depositor and the Owner Trustee assumes no responsibility for the correctness thereof. The Owner Trustee makes no representations as to the validity or sufficiency of this Agreement, of any Basic Document or of the Certificate (other than the signature and countersignature of the Owner Trustee on the Certificate) or the Notes, or any Derivative Contract, or of any Receivable or related documents. The Owner Trustee shall at no time have any responsibility or liability for or with respect to the legality, validity and enforceability of any Receivable, or the perfection and priority of any security interest created by any Receivable in any Financed Vehicle or the maintenance of any such perfection and priority, or for or with respect to the sufficiency of the Owner Trust Estate or its ability to generate the payments to be distributed to Certificateholder under this Agreement or the Noteholders under the Indenture, including, without limitation: the existence, condition and ownership of any Financed Vehicle; the existence and enforceability of any insurance thereon; the existence and contents of any Receivable on any computer or other record thereof; the validity of the assignment of any Receivable to the Trust or of any intervening assignment; the completeness of any Receivable; the performance or enforcement of any Receivable; the compliance by the Depositor, the Servicer or any other Person with any warranty or representation made under any Basic Document or in any related document or the accuracy of any such warranty or representation or any action of the Trustee or the Servicer or any subservicer taken in the name of the Owner Trustee.

 

21


SECTION 6.7. Owner Trustee May Own Notes

The Owner Trustee in its individual or any other capacity may become the owner or pledgee of the Notes and may deal with the Depositor, the Trustee and the Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

SECTION 6.8. Payments from Owner Trust Estate

All payments to be made by the Owner Trustee under this Agreement or any of the Basic Documents to which the Trust or the Owner Trustee is a party shall be made only from the income and proceeds of the Owner Trust Estate and only to the extent that the Owner Trustee shall have received income or proceeds from the Owner Trust Estate to make such payments in accordance with the terms hereof. Wilmington Trust Company or any successor thereto, in its individual capacity, shall not be liable for any amounts payable under this Agreement or any of the Basic Documents to which the Trust or the Owner Trustee is a party.

SECTION 6.9. Doing Business in Other Jurisdictions

Notwithstanding anything contained herein to the contrary, neither Wilmington Trust Company or any successor thereto, nor the Owner Trustee shall be required to take any action in any jurisdiction other than in the State of Delaware if the taking of such action will, even after the appointment of a co-trustee or separate trustee in accordance with Section 9.5 hereof, (i) require the consent or approval or authorization or order of or the giving of notice to, or the registration with or the taking of any other action in respect of, any state or other governmental authority or agency of any jurisdiction other than the State of Delaware; (ii) result in any fee, tax or other governmental charge under the laws of the State of Delaware becoming payable by Wilmington Trust Company (or any successor thereto); or (iii) subject Wilmington Trust Company (or any successor thereto) to personal jurisdiction in any jurisdiction other than the State of Delaware for causes of action arising from acts unrelated to the consummation of the transactions by Wilmington Trust Company (or any successor thereto) or the Owner Trustee, as the case may be, contemplated hereby.

ARTICLE VII.

Compensation of Owner Trustee

SECTION 7.1. Owner Trustee’s Fees and Expenses. The Owner Trustee shall receive as compensation for its services hereunder such fees as have been separately agreed upon before the date hereof between AmeriCredit and the Owner Trustee, and the Owner Trustee shall be entitled to be reimbursed by the Depositor for its other reasonable expenses hereunder, including the reasonable compensation, expenses and disbursements of such agents, representatives, experts and counsel as the Owner Trustee may employ in connection with the exercise and performance of its rights and its duties hereunder and under the Basic Documents. AmeriCredit Corp. shall be jointly and severally liable for the fees and expenses owing to the Owner Trustee under this Section 7.1.

 

22


SECTION 7.2. Indemnification

The Depositor shall be liable as primary obligor for, and shall indemnify the Owner Trustee and its officers, directors, successors, assigns, agents and servants (collectively, the “Indemnified Parties”) from and against, any and all liabilities, obligations, losses, damages, taxes, claims, actions and suits, and any and all reasonable costs, expenses and disbursements (including reasonable legal fees and expenses) of any kind and nature whatsoever (collectively, “Expenses”) which may at any time be imposed on, incurred by, or asserted against the Owner Trustee or any Indemnified Party in any way relating to or arising out of this Agreement, the Basic Documents, the Owner Trust Estate, the administration of the Owner Trust Estate or the action or inaction of the Owner Trustee hereunder, except only that the Depositor shall not be liable for or required to indemnify the Owner Trustee from and against Expenses arising or resulting from any of the matters described in the third sentence of Section 6.1. The indemnities contained in this Section and the rights under Section 7.1 shall survive the resignation or termination of the Owner Trustee or the termination of this Agreement. In any event of any claim, action or proceeding for which indemnity will be sought pursuant to this Section, the Owner Trustee’s choice of legal counsel shall be subject to the approval of the Depositor which approval shall not be unreasonably withheld. AmeriCredit Corp. shall be jointly and severally liable for the indemnification duties and obligations of the Depositor which are described in this Section 7.2.

SECTION 7.3. Payments to the Owner Trustee

Any amounts paid to the Owner Trustee pursuant to this Article VII shall be deemed not to be a part of the Owner Trust Estate immediately after such payment.

SECTION 7.4. Non-recourse Obligations

Notwithstanding anything in this Agreement or any Basic Document, the Owner Trustee agrees in its individual capacity and in its capacity as Owner Trustee for the Trust that all obligations of the Trust to the Owner Trustee individually or as Owner Trustee for the Trust shall be with recourse to the Owner Trust Estate only and specifically shall be without recourse to the assets of the Holder.

ARTICLE VIII.

Termination of Trust Agreement

SECTION 8.1. Termination of Trust Agreement.

(a) This Agreement and the Trust shall terminate in accordance with Section 3808 of the Statutory Trust Statute and be of no further force or effect upon the latest of (i) the maturity or other liquidation of the last Receivable (including the purchase by the Servicer at its option or by the Seller at its option of the corpus of the Trust as described in Section 10.1 of the Sale and Servicing Agreement) and the subsequent distribution of amounts in respect of such Receivables as provided in the Basic Documents, or (ii) the payment to the Certificateholder of all amounts required to be paid to it pursuant to this Agreement; provided, however, that the rights to indemnification under Section 7.2 and the rights under Section 7.1 shall survive the

 

23


termination of the Trust. The Seller or the Servicer shall promptly notify the Owner Trustee of any prospective termination pursuant to this Section. The bankruptcy, liquidation, dissolution, death or incapacity of the Certificateholder, shall not (x) operate to terminate this Agreement or the Trust, nor (y) entitle the Certificateholder’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of all or any part of the Trust or Owner Trust Estate nor (z) otherwise affect the rights, obligations and liabilities of the parties hereto.

(b) Neither the Depositor nor the Certificateholder shall be entitled to revoke or terminate the Trust.

(c) Notice of any termination of the Trust, specifying the Distribution Date upon which the Certificateholder shall surrender the Certificate to the Trust Collateral Agent for payment of the final distribution and cancellation, shall be given by the Owner Trustee by letter to the Certificateholder mailed within five Business Days of receipt of notice of such termination from the Servicer given pursuant to Section 10.1(c) of the Sale and Servicing Agreement, stating (i) the Distribution Date upon or with respect to which final payment of the Certificate shall be made upon presentation and surrender of the Certificate at the office of the Trust Collateral Agent therein designated, (ii) the amount of any such final payment, (iii) that the Record Date otherwise applicable to such Distribution Date is not applicable, payments being made only upon presentation and surrender of the Certificate at the office of the Trust Collateral Agent therein specified and (iv) interest will cease to accrue on the Certificate. The Owner Trustee shall give such notice to the Trust Collateral Agent at the time such notice is given to the Certificateholder. Upon presentation and surrender of the Certificate, the Trust Collateral Agent shall cause to be distributed to the Certificateholder amounts distributable on such Distribution Date pursuant to Section 5.7 of the Sale and Servicing Agreement.

In the event that the Certificateholder shall not surrender the Certificate for cancellation within six months after the date specified in the above mentioned written notice, the Owner Trustee shall give a second written notice to the Certificateholder to surrender the Certificate for cancellation and receive the final distribution with respect thereto. If within one year after the second notice the Certificate shall not have been surrendered for cancellation, the Owner Trustee may take appropriate steps, or may appoint an agent to take appropriate steps, to contact the Certificateholder concerning surrender of its Certificate, and the cost thereof shall be paid out of the funds and other assets that shall remain subject to this Agreement. Any funds remaining in the Trust after exhaustion of such remedies shall be distributed, subject to applicable escheat laws, by the Owner Trustee to the Holder.

(d) Upon the completion of the winding up of the Trust in accordance with Section 3808 of the Statutory Trust Statute and its termination, the Owner Trustee shall cause the Certificate of Trust to be canceled by filing a certificate of cancellation with the Secretary of State in accordance with the provisions of Section 3810 of the Statutory Trust Statute.

 

24


ARTICLE IX.

Successor Owner Trustees and Additional Owner Trustees

SECTION 9.1. Eligibility Requirements for Owner Trustee

The Owner Trustee shall at all times be a corporation (i) satisfying the provisions of Section 3807(a) of the Statutory Trust Statute; (ii) authorized to exercise corporate trust powers; and (iii) having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authorities. If such corporation shall publish reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Owner Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 9.2.

SECTION 9.2. Resignation or Removal of Owner Trustee

The Owner Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor and the Servicer. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Owner Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Owner Trustee and one copy to the successor Owner Trustee. If no successor Owner Trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Owner Trustee or the Certificateholder may petition any court of competent jurisdiction for the appointment of a successor Owner Trustee.

If at any time the Owner Trustee shall cease to be eligible in accordance with the provisions of Section 9.1 and shall fail to resign after written request therefor by the Depositor, or if at any time the Owner Trustee shall be legally unable to act, or shall be adjudged bankrupt or insolvent, or a receiver of the Owner Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Owner Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Depositor may remove the Owner Trustee. If the Depositor shall remove the Owner Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Owner Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Owner Trustee so removed one copy to the successor Owner Trustee and payment of all fees owed to the outgoing Owner Trustee.

Any resignation or removal of the Owner Trustee and appointment of a successor Owner Trustee pursuant to any of the provisions of this Section shall not become effective until acceptance of appointment by the successor Owner Trustee pursuant to Section 9.3 and payment of all fees and expenses owed to the outgoing Owner Trustee. The Depositor shall provide notice of such resignation or removal of the Owner Trustee to each of the Rating Agencies.

 

25


SECTION 9.3. Successor Owner Trustee

Any successor Owner Trustee appointed pursuant to Section 9.2 shall execute, acknowledge and deliver to the Depositor, the Servicer and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement; and the Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations.

No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 9.1.

Upon acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Servicer shall mail notice of the successor of such Owner Trustee to the Certificateholder, the Trustee, the Noteholders and the Rating Agencies. If the Servicer shall fail to mail such notice within 10 days after acceptance of appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Servicer.

SECTION 9.4. Merger or Consolidation of Owner Trustee

Any corporation into which the Owner Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Owner Trustee, shall be the successor of the Owner Trustee hereunder, provided such corporation shall be eligible pursuant to Section 9.1, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, further, that the Owner Trustee shall mail notice of such merger or consolidation to the Rating Agencies.

SECTION 9.5. Appointment of Co-Trustee or Separate Trustee

Notwithstanding any other provisions of this Agreement, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Owner Trust Estate or any Financed Vehicle may at the time be located, the Servicer and the Owner Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons approved by the Owner Trustee to act as co-trustee, jointly with the Owner Trustee, or separate trustee or separate trustees, of all or any part of the Owner Trust Estate, and to vest in such Person, in such capacity, such title to the Trust, or any part thereof, and, subject to the other provisions of this Section, such powers, duties, obligations, rights and

 

26


trusts as the Servicer and the Owner Trustee may consider necessary or desirable. If the Servicer shall not have joined in such appointment within 15 days after the receipt by it of a request to do so, the Owner Trustee shall have the power to make such appointment. No co-trustee or separate trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee pursuant to Section 9.1 and no notice of the appointment of any co-trustee or separate trustee shall be required pursuant to Section 9.3.

Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:

(i) all rights, powers, duties and obligations conferred or imposed upon the Owner Trustee shall be conferred upon and exercised or performed by the Owner Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Owner Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed, the Owner Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to the Trust or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Owner Trustee;

(ii) no trustee under this Agreement shall be personally liable by reason of any act or omission of any other trustee under this Agreement; and

(iii) the Servicer and the Owner Trustee acting jointly may at any time accept the resignation of or remove any separate trustee or co-trustee.

Any notice, request or other writing given to the Owner Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Agreement and the conditions of this Article. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Owner Trustee or separately, as may be provided therein, subject to all the provisions of this Agreement, specifically including every provision of this Agreement relating to the conduct of, affecting the liability of, or affording protection to, the Owner Trustee. Each such instrument shall be filed with the Owner Trustee and a copy thereof given to the Servicer.

Any separate trustee or co-trustee may at any time appoint the Owner Trustee, its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall vest in and be exercised by the Owner Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.

 

27


ARTICLE X.

Miscellaneous

SECTION 10.1. Supplements and Amendments.

(a) This Agreement may be amended by the Depositor and the Owner Trustee, and with prior written notice to the Rating Agencies, without the consent of any of the Noteholders or the Certificateholder, (i) to cure any ambiguity or defect or (ii) to correct, supplement or modify any provisions in this Agreement; provided, however, that such action shall not, as evidenced by an Opinion of Counsel delivered to the Owner Trustee which may be based upon a certificate of the Servicer, adversely affect in any material respect the interests of any Noteholder or Certificateholder.

(b) This Agreement may also be amended from time to time by the Depositor and the Owner Trustee, with prior written notice to the Rating Agencies, to the extent such amendment materially and adversely affects the interests of the Noteholders, with the consent of the Noteholders evidencing not less than a majority of the Outstanding Amount of the Notes, and the consent of the Certificateholder (which consent of any Holder of a Certificate or Note given pursuant to this Section or pursuant to any other provision of this Agreement shall be conclusive and binding on such Holder) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders or the Certificateholder; provided, however, that no such amendment shall (a) increase or reduce in any manner the amount of, or accelerate or delay the timing of, collections of payments on Receivables or distributions that shall be required to be made for the benefit of the Noteholders or the Certificateholder or (b) reduce the aforesaid percentage of the Outstanding Amount of the Notes and the Certificate Balance required to consent to any such amendment, without the consent of the Holders of all the outstanding Notes and the Certificateholder.

Promptly after the execution of any such amendment or consent, the Owner Trustee shall furnish written notification of the substance of such amendment or consent to the Certificateholder, the Trustee and each of the Rating Agencies.

It shall not be necessary for the consent of Certificateholder, the Noteholders or the Trustee pursuant to this Section to approve the particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining such consents (and any other consents of the Certificateholder provided for in this Agreement or in any other Basic Document) and of evidencing the authorization of the execution thereof by Certificateholder shall be subject to such reasonable requirements as the Owner Trustee may prescribe. Promptly after the execution of any amendment to the Certificate of Trust, the Owner Trustee shall cause the filing of such amendment with the Secretary of State.

Prior to the execution of any amendment to this Agreement or the Certificate of Trust, the Owner Trustee shall be entitled to receive and rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and that all conditions precedent to the execution and delivery of such amendment have been satisfied. The Owner Trustee may, but shall not be obligated to, enter into any such amendment which affects the Owner Trustee’s own rights, duties or immunities under this Agreement or otherwise.

 

28


SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder

The Certificateholder shall not have legal title to any part of the Owner Trust Estate. The Certificateholder shall be entitled to receive distributions in accordance with Article VIII. No transfer, by operation of law or otherwise, of any right, title or interest of the Certificateholder to and in its ownership interest in the Owner Trust Estate shall operate to terminate this Agreement or the trust hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Owner Trust Estate.

SECTION 10.3. Limitations on Rights of Others

The provisions of this Agreement are solely for the benefit of the Owner Trustee, the Depositor, the Certificateholder, the Servicer and, to the extent expressly provided herein, the Trustee and the Noteholders, and nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in the Owner Trust Estate or under or in respect of this Agreement or any covenants, conditions or provisions contained herein.

SECTION 10.4. Notices.

(a) Unless otherwise expressly specified or permitted by the terms hereof, all notices shall be in writing and shall be deemed given upon receipt personally delivered, delivered by overnight courier or mailed first class mail or certified mail, in each case return receipt requested, and shall be deemed to have been duly given upon receipt, if to the Owner Trustee, addressed to the Corporate Trust Office; if to the Depositor, addressed to AFS SenSub Corp., 2265 B Renaissance Drive, Suite 17, Las Vegas, Nevada 89119, Attention: Chief Financial Officer, with a copy to AFS SenSub Corp., c/o AmeriCredit Financial Services, Inc., 801 Cherry Street, Suite 3500, Fort Worth, Texas 76102, Attention: Chief Financial Officer; or, as to each party, at such other address as shall be designated by such party in a written notice to each other party.

(b) Any notice required or permitted to be given to a Certificateholder shall be given by first-class mail, postage prepaid, at the address of the Holder. Any notice so mailed within the time prescribed in this Agreement shall be conclusively presumed to have been duly given, whether or not the Certificateholder receives such notice.

SECTION 10.5. Severability

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

 

29


SECTION 10.6. Separate Counterparts

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

SECTION 10.7. Assignments

This Agreement shall inure to the benefit of and be binding upon the parties hereto, and their respective successors and permitted assigns.

SECTION 10.8. No Recourse

The Certificateholder by accepting a Certificate acknowledges that the Certificate represents a beneficial interest in the Trust only and does not represent interests in or obligations of the Seller, the Servicer, the Owner Trustee, the Trustee, or any Affiliate thereof and no recourse may be had against such parties or their assets, except as may be expressly set forth or contemplated in this Agreement, the Certificate or the Basic Documents.

SECTION 10.9. Headings

The headings of the various Articles and Sections herein are for convenience of reference only and shall not define or limit any of the terms or provisions hereof.

SECTION 10.10. GOVERNING LAW

THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

SECTION 10.11. Servicer

The Servicer is authorized to prepare, or cause to be prepared, execute and deliver on behalf of the Trust, all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the Trust or Owner Trustee to prepare, file or deliver pursuant to the Basic Documents or as required under the Term Asset-Backed Securities Loan Facility (“TALF”) provided by the Federal Reserve Bank of New York. Upon written request, the Owner Trustee shall execute and deliver to the Servicer a limited power of attorney appointing the Servicer the Trust’s agent and attorney-in-fact to prepare, or cause to be prepared, execute and deliver all such documents, reports, filings, instruments, certificates and opinions.

SECTION 10.12. Nonpetition Covenants

(a) To the fullest extent permitted by applicable law, notwithstanding any prior termination of this Agreement, the Certificateholder shall not, prior to the date which is one year and one day after the termination of this Agreement with respect to the Trust, acquiesce, petition or otherwise invoke or cause the Trust to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Trust under any federal

 

30


or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Trust or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Trust.

(b) To the fullest extent permitted by applicable law, notwithstanding any prior termination of this Agreement, but subject to the provisions of Section 4.5, the Owner Trustee shall not, prior to the date which is one year and one day after the termination of this Agreement, with respect to the Trust, acquiesce, petition or otherwise invoke or cause the Trust to invoke the process of any court or government authority for the purpose of commencing or sustaining an involuntary case against the Trust under any federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Trust or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Trust.

SECTION 10.13. Regulation AB

The Owner Trustee acknowledges and agrees that the purpose of this Section 10.13 is to facilitate compliance by the Trust with the provisions of Regulation AB and related rules and regulations of the Commission. The Owner Trustee acknowledges that interpretations of the requirements of Regulation AB may change over time, whether due to interpretive guidance provided by the Commission or its staff, consensus among participants in the asset-backed securities markets, advice of counsel, or otherwise, and agrees hereby to comply with reasonable requests made by the Servicer in good faith for delivery of information under these provisions on the basis of evolving interpretations of Regulation AB. The Owner Trustee shall cooperate fully with the Servicer and the Trust to deliver to the Servicer and the Trust any and all statements, reports, certifications, records and any other information necessary in the good faith determination of the Servicer to permit the Servicer and the Trust to comply with the provisions of Regulation AB, together with such disclosures relating to the Owner Trustee reasonably believed by the Servicer to be necessary in order to effect such compliance

[Remainder of page intentionally left blank.]

 

31


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

 

WILMINGTON TRUST COMPANY,
as Owner Trustee

By:   /s/ Erik E. Overcash
 

Name: Erik E. Overcash

Title: Assistant Vice President

 

AFS SENSUB CORP.,
as Seller

By:   /s/ Sheli D. Fitzgerald
 

Name: Sheli D. Fitzgerald

Title: Vice President, Structured Finance

 

ACKNOWLEDGED AND AGREED TO:

AMERICREDIT CORP.,

Solely with respect to Sections 7.1 and 7.2

By:   /s/ Susan B. Sheffield
 

Name: Susan B. Sheffield

Title: Executive Vice President, Structured Finance

[Amended and Restated Trust Agreement]


EXHIBIT A

NUMBER

R-1

SEE REVERSE FOR CERTAIN DEFINITIONS

THIS CERTIFICATE IS NOT TRANSFERABLE,

EXCEPT UNDER THE LIMITED CONDITIONS

SPECIFIED IN THE TRUST AGREEMENT

 

 

ASSET BACKED CERTIFICATE

evidencing a beneficial ownership interest in certain distributions of the Trust, as defined below, the property of which includes a pool of retail installment sale contracts secured by new or used automobiles, vans or light duty trucks and sold to the Trust by AFS SenSub Corp.

(This Certificate does not represent an interest in or obligation of AFS SenSub Corp. or any of its Affiliates, except to the extent described below.)

THIS CERTIFIES THAT AFS SenSub Corp. is the registered owner of a nonassessable, fully-paid, beneficial ownership interest in certain distributions of AmeriCredit Automobile Receivables Trust 2010-1 (the “Trust”) formed by AFS SenSub Corp., a Nevada corporation (the “Seller”).

The Trust was created pursuant to a Trust Agreement dated as of January 11, 2010, as amended and restated as of February 2, 2010 (the “Trust Agreement”), between the Seller and Wilmington Trust Company, as owner trustee (the “Owner Trustee”), a summary of certain of the pertinent provisions of which is set forth below. To the extent not otherwise defined herein, the capitalized terms used herein have the meanings assigned to them in the Trust Agreement.

This is the duly authorized Certificate designated as “Asset Backed Certificate” (herein called the “Certificate”). Also issued under the Indenture, dated as of February 2, 2010, among the Trust, Wells Fargo Bank, National Association, as trustee and indenture collateral agent, are six classes of Notes designated as “Class A-1 0.29642% Asset Backed Notes” (the “Class A-1 Notes”), “Class A-2 0.97% Asset Backed Notes” (the “Class A-2 Notes”), “Class A-3 1.66% Asset Backed Notes” (the “Class A-3 Notes”), “Class B 3.72% Asset Backed Notes” (the “Class B Notes”), “Class C 5.19% Asset Backed Notes” (the “Class C Notes”) and “Class D 6.65% Asset Backed Notes” (the “Class D Notes”) (the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes and the Class D Notes, the “Notes”). This Certificate is issued under and is subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the holder of this Certificate by virtue of the acceptance hereof assents and by which such holder is bound. The property of the Trust includes a pool of retail installment sale contracts secured by new and used automobiles, vans or light duty trucks (the “Receivables”), all monies due thereunder on or after the Cutoff Date, security interests in the vehicles financed thereby, certain bank accounts and the proceeds thereof, proceeds from


claims on certain insurance policies and certain other rights under the Trust Agreement and the Sale and Servicing Agreement, all right, to and interest of the Seller in and to the Purchase Agreement dated as of February 2, 2010 between AmeriCredit Financial Services, Inc. and the Seller and all proceeds of the foregoing.

The holder of this Certificate acknowledges and agrees that its rights to receive distributions in respect of this Certificate are subordinated to the rights of the Noteholders as described in the Sale and Servicing Agreement, the Indenture and the Trust Agreement, as applicable.

Distributions on this Certificate will be made as provided in the Trust Agreement or any other Basic Document by wire transfer or check mailed to the Certificateholder without the presentation or surrender of this Certificate or the making of any notation hereon. Except as otherwise provided in the Trust Agreement and notwithstanding the above, the final distribution on this Certificate will be made after due notice by the Owner Trustee of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency maintained for the purpose by the Owner Trustee in the Corporate Trust Office.

Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

Unless the certificate of authentication hereon shall have been executed by an authorized officer of the Owner Trustee, by manual signature, this Certificate shall not entitle the holder hereof to any benefit under the Trust Agreement or the Sale and Servicing Agreement or be valid for any purpose.

THIS CERTIFICATE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

 

A-2


IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Trust and not in its individual capacity, has caused this Certificate to be duly executed.

 

   

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1

    By:  

WILMINGTON TRUST COMPANY

not in its individual capacity but

solely as Owner Trustee

Dated: February 12, 2010       By:    
         

Name:

Title:

OWNER TRUSTEE’S CERTIFICATE OF AUTHENTICATION

This is the Certificate referred to in the within-mentioned Trust Agreement.

 

WILMINGTON TRUST COMPANY

not in its individual capacity but solely as

Owner Trustee

By:    
 

Name:

Title:

 

A-3


(Reverse of Certificate)

The Certificate does not represent an obligation of, or an interest in, the Seller, the Servicer, the Owner Trustee or any Affiliates of any of them and no recourse may be had against such parties or their assets, except as may be expressly set forth or contemplated herein or in the Trust Agreement, the Indenture or the Basic Documents. In addition, this Certificate is not guaranteed by any governmental agency or instrumentality and is limited in right of payment to certain collections with respect to the Receivables, all as more specifically set forth herein and in the Sale and Servicing Agreement. A copy of each of the Sale and Servicing Agreement and the Trust Agreement may be examined during normal business hours at the principal office of the Seller, and at such other places, if any, designated by the Seller, by any Certificateholder upon written request.

The Trust Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Seller under the Trust Agreement at any time by the Seller and the Owner Trustee with the consent of the Note Majority and the Certificateholder. Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and on all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent is made upon this Certificate. The Trust Agreement also permits the amendment thereof, in certain limited circumstances, without the consent of the Certificateholder.

As provided in the Trust Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices or agencies of the Certificate Registrar maintained by the Owner Trustee in the Corporate Trust Office, accompanied by a written instrument of transfer in form satisfactory to the Owner Trustee and the Certificate Registrar duly executed by the holder hereof or such holder’s attorney duly authorized in writing, and thereupon a new Certificate evidencing the same aggregate interest in the Trust will be issued to the designated transferee. The initial Certificate Registrar appointed under the Trust Agreement is Wilmington Trust Company. No service charge will be made for any such registration of transfer or exchange, but the Owner Trustee or the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge payable in connection therewith.

No sale or transfer of a Trust Certificate shall be permitted (including, without limitation, by pledge or hypothecation), and no such sale or transfer shall be registered by the Certificate Registrar or be effective hereunder, if the sale or transfer thereof increases to more than 99 the sum of the number of Certificateholders.

The Owner Trustee and any agent of the Owner Trustee may treat the person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Owner Trustee nor any such agent shall be affected by any notice to the contrary.

The obligations and responsibilities created by the Trust Agreement and the Trust created thereby shall terminate upon the payment to the Certificateholder of all amounts required to be paid to it pursuant to the Trust Agreement and the Sale and Servicing Agreement and the

 

A-4


disposition of all property held as part of the Trust. The Seller or the Servicer of the Receivables may at its option purchase the corpus of the Trust at a price specified in the Sale and Servicing Agreement, and such purchase of the Receivables and other property of the Trust will effect early retirement of the Certificate; however, such right of purchase is exercisable, subject to certain restrictions, only as of the last day of any Collection Period as of which the Pool Balance is 10% or less of the Original Pool Balance.

The Certificate may not be acquired by (a) an employee benefit plan (as defined in Section 3(3) of ERISA) that is subject to the provisions of Title I of ERISA, (b) a plan (as defined in Section 4975(e)(1) of the Code) that is subject to Section 4975, (c) any entity whose underlying assets include assets of a plan described in (a) or (b) above by reason of such plan’s investment in the entity, or (d) an employee benefit plan subject to any federal, state, local or non-U.S. laws or regulations substantially similar to Title I of ERISA or Section 4975 of the Code (each, a “Benefit Plan”). By accepting and holding this Certificate, the Holder hereof shall be deemed to have represented and warranted that it is not a Benefit Plan.

The recitals contained herein shall be taken as the statements of the Depositor or the Servicer, as the case may be, and the Owner Trustee assumes no responsibility for the correctness thereof. The Owner Trustee makes no representations as to the validity or sufficiency of this Certificate or of any Receivable or related document.

Unless the certificate of authentication hereon shall have been executed by an authorized officer of the Owner Trustee, by manual or facsimile signature, this Certificate shall not entitle the Holder hereof to any benefit under the Trust Agreement or the Sale and Servicing Agreement or be valid for any purpose.

 

A-5


ASSIGNMENT

FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto

PLEASE INSERT SOCIAL SECURITY

OR OTHER IDENTIFYING NUMBER

OF ASSIGNEE

      

 

(Please print or type name and address, including postal zip code, of assignee)

      

 

the within Certificate, and all rights thereunder, hereby irrevocably constituting and appointing

______________________________ Attorney to transfer said Certificate on the books of the Certificate Registrar, with full power of substitution in the premises.

 

Dated:          *
    Signature  
Guaranteed:          *
     

 

* NOTICE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Certificate in every particular, without alteration, enlargement or any change whatever. Such signature must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Certificate Registrar, which requirements include membership or participation in STAMP or such other “signature guarantee program” as may be determined by the Certificate Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.

 

A-6


EXHIBIT B

FORM OF

CERTIFICATE OF TRUST

OF

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1

THIS Certificate of Trust of AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1 (the “Trust”) is being duly executed and filed on behalf of the Trust by the undersigned, as trustee, to form a statutory trust under the Delaware Statutory Trust Act (12 Del. C. § 3801 et seq.) (the “Act”).

1. Name. The name of the statutory trust formed by this Certificate of Trust is “AmeriCredit Automobile Receivables Trust 2010-1.”

2. Delaware Trustee. The name and business address of the trustee of the Trust in the State of Delaware is Wilmington Trust Company, Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890-0001.

3. Effective Date. This Certificate of Trust shall be effective upon filing.

IN WITNESS WHEREOF, the undersigned has duly executed this Certificate of Trust in accordance with Section 3811(a)(1) of the Act.

 

WILMINGTON TRUST COMPANY, not in its

individual capacity but solely as trustee of the Trust

By:    
 

Name:

Title:

EX-4.3 4 dex43.htm SALE AND SERVICING AGREEMENT, DATED AS OF FEBRUARY 2, 2010 Sale and Servicing Agreement, dated as of February 2, 2010

Exhibit 4.3

Execution Copy

SALE AND SERVICING

AGREEMENT

among

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1,

Issuer,

AFS SENSUB CORP.,

Seller,

AMERICREDIT FINANCIAL SERVICES, INC.,

Servicer,

and

WELLS FARGO BANK, NATIONAL ASSOCIATION,

Backup Servicer and Trust Collateral Agent

Dated as of February 2, 2010


TABLE OF CONTENTS

 

     Page

ARTICLE I Definitions

   1

SECTION 1.1.

   Definitions    1

SECTION 1.2.

   Other Definitional Provisions    19

ARTICLE II Conveyance of Receivables

   20

SECTION 2.1.

   Conveyance of Receivables    20

SECTION 2.2.

   [Reserved]    20

SECTION 2.3.

   Further Encumbrance of Trust Property    20

SECTION 2.4.

   Intention of the Parties    21

ARTICLE III The Receivables

   22

SECTION 3.1.

   Representations and Warranties of Seller    22

SECTION 3.2.

   Repurchase upon Breach    22

SECTION 3.3.

   Custody of Receivable Files    23

ARTICLE IV Administration and Servicing of Receivables

   24

SECTION 4.1.

   Duties of the Servicer and the Backup Servicer    24

SECTION 4.2.

   Collection of Receivable Payments; Modifications of Receivables; Lockbox Agreements    26

SECTION 4.3.

   Realization upon Receivables    29

SECTION 4.4.

   Insurance    30

SECTION 4.5.

   Maintenance of Security Interests in Vehicles    32

SECTION 4.6.

   Covenants, Representations, and Warranties of Servicer    32

SECTION 4.7.

   Purchase of Receivables Upon Breach of Covenant    33

SECTION 4.8.

   Total Servicing Fee; Payment of Certain Expenses by Servicer    34

SECTION 4.9.

   Servicer’s Certificate    34

SECTION 4.10.

   Annual Statement as to Compliance, Notice of Servicer Termination Event    35

SECTION 4.11.

   Annual Independent Public Accountants’ Reports    36

SECTION 4.12.

   Access to Certain Documentation and Information Regarding Receivables    37

SECTION 4.13.

   Monthly Tape    37

ARTICLE V Trust Accounts; Distributions; Statements to Noteholders

   38

SECTION 5.1.

   Establishment of Trust Accounts    38

SECTION 5.2.

   [Reserved]    40

SECTION 5.3.

   Certain Reimbursements to the Servicer    40

SECTION 5.4.

   Application of Collections    40

SECTION 5.5.

   [Reserved]    41

SECTION 5.6.

   Additional Deposits    41

SECTION 5.7.

   Distributions    41

 

i


SECTION 5.8.

   Reserve Account    44

SECTION 5.9.

   Statements to Noteholders    45

ARTICLE VI [Reserved]

   47

ARTICLE VII The Seller

   47

SECTION 7.1.

   Representations of Seller    47

SECTION 7.2.

   Corporate Existence    48

SECTION 7.3.

   Liability of Seller; Indemnities    49

SECTION 7.4.

   Merger or Consolidation of, or Assumption of the Obligations of, Seller    50

SECTION 7.5.

   Limitation on Liability of Seller and Others    51

SECTION 7.6.

   Ownership of the Certificates or Notes    51

ARTICLE VIII The Servicer and the Backup Servicer

   51

SECTION 8.1.

   Representations of Servicer    51

SECTION 8.2.

   Representations of Backup Servicer    53

SECTION 8.3.

   Liability of Servicer and Backup Servicer; Indemnities    54

SECTION 8.4.

   Merger or Consolidation of, or Assumption of the Obligations of the Servicer or Backup Servicer    56

SECTION 8.5.

   Limitation on Liability of Servicer, Backup Servicer and Others    57

SECTION 8.6.

   Delegation of Duties    58

SECTION 8.7.

   Servicer and Backup Servicer Not to Resign    58

ARTICLE IX Default

   59

SECTION 9.1.

   Servicer Termination Event    59

SECTION 9.2.

   Consequences of a Servicer Termination Event    60

SECTION 9.3.

   Appointment of Successor    61

SECTION 9.4.

   Notification to Noteholders    62

SECTION 9.5.

   Waiver of Past Defaults    62

SECTION 9.6.

   Backup Servicer Termination    62

ARTICLE X Termination

   63

SECTION 10.1.

   Optional Purchase of All Receivables    63

ARTICLE XI Administrative Duties of the Servicer

   64

SECTION 11.1.

   Administrative Duties    64

SECTION 11.2.

   Records    66

SECTION 11.3.

   Additional Information to be Furnished to the Issuer    66

ARTICLE XII Miscellaneous Provisions

   66

SECTION 12.1.

   Amendment    66

SECTION 12.2.

   Protection of Title to Trust    67

SECTION 12.3.

   Notices    69

 

ii


SECTION 12.4.

   Assignment    69

SECTION 12.5.

   Limitations on Rights of Others    70

SECTION 12.6.

   Severability    70

SECTION 12.7.

   Separate Counterparts    70

SECTION 12.8.

   Headings    70

SECTION 12.9.

   Governing Law    70

SECTION 12.10.

   Assignment to Trust Collateral Agent    70

SECTION 12.11.

   Nonpetition Covenants    70

SECTION 12.12.

   Limitation of Liability of Owner Trustee and Trust Collateral Agent    71

SECTION 12.13.

   Independence of the Servicer    71

SECTION 12.14.

   No Joint Venture    71

SECTION 12.15.

   State Business Licenses    72

 

SCHEDULES

     

Schedule A

   Schedule of Receivables   

Schedule B

   Representations and Warranties of the Seller and the Servicer   

Schedule C

   Servicing Policies and Procedures   

EXHIBITS

     

Exhibit A

   Form of Servicer’s Certificate   

 

iii


SALE AND SERVICING AGREEMENT dated as of February 2, 2010, among AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1, a Delaware statutory trust (the “Issuer”), AFS SENSUB CORP., a Nevada corporation (the “Seller”), AMERICREDIT FINANCIAL SERVICES, INC., a Delaware corporation (the “Servicer”), WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, in its capacity as Backup Servicer and Trust Collateral Agent.

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

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

WHEREAS the Servicer is willing to service all such receivables;

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

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

ARTICLE I

Definitions

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

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

(x) the excess, if any, of the amount of Available Funds on such Distribution Date over the amounts payable on such Distribution Date pursuant to clauses (i) through (xvi) of Section 5.7(a); and

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

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

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


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

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

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

AmeriCredit” means AmeriCredit Financial Services, Inc.

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

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

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

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

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

Base Servicing Fee” means, with respect to any Collection Period, the fee payable to the Servicer for services rendered during such Collection Period, which shall be equal to the product of (i) the Servicing Fee Rate times (ii) the aggregate Principal Balance of the Receivables as of the opening of business on the first day of such Collection Period (or in the case of the first Distribution Date, February 3, 2010) times (iii) one-twelfth (or in the case of the first Distribution Date, the actual number of days during the Collection Period divided by 360).

 

2


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

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

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

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

Class” means the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes and/or the Class D Notes, as the context requires.

Class A Notes” means the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes.

Class A Principal Parity Amount” means, with respect to any Distribution Date, the lesser of (I) the excess, if any, of (x) the aggregate remaining principal balance of the Class A Notes immediately prior to such Distribution Date over (y) the Pool Balance as of the end of the immediately preceding Collection Period and (II) the amount of Total Available Funds remaining on deposit in the Collection Account after the funding of the items described in clauses (i) through (iii) of Section 5.7(a) on such Distribution Date.

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

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

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

Class B Notes” has the meaning assigned to such term in the Indenture.

Class B Principal Parity Amount” means, with respect to any Distribution Date, the lesser of (I) the excess of (A) the excess, if any, of (x) the aggregate remaining principal balance of the Class A Notes and of the Class B Notes, in each case immediately prior to such Distribution Date over (y) the Pool Balance as of the end of the immediately preceding Collection Period over (B) the Class A Principal Parity Amount for such Distribution Date and (II) the amount of Total Available Funds remaining on deposit in the Collection Account after the funding of the items described in clauses (i) through (vi) of Section 5.7(a) on such Distribution Date.

 

3


Class C Notes” has the meaning assigned to such term in the Indenture.

Class C Principal Parity Amount” means, with respect to any Distribution Date, the lesser of (I) the excess of (A) the excess, if any, of (x) the aggregate remaining principal balance of the Class A Notes, of the Class B Notes and of the Class C Notes, in each case immediately prior to such Distribution Date over (y) the Pool Balance as of the end of the immediately preceding Collection Period over (B) the sum of the Class A Principal Parity Amount and the Class B Principal Parity Amount for such Distribution Date and (II) the amount of Total Available Funds remaining on deposit in the Collection Account after the funding of the items described in clauses (i) through (ix) of Section 5.7(a) on such Distribution Date.

Class D Notes” has the meaning assigned to such term in the Indenture.

Class D Principal Parity Amount” means, with respect to any Distribution Date, the lesser of (I) the excess of (A) the excess, if any, of (x) the aggregate remaining principal balance of the Class A Notes, of the Class B Notes, of the Class C Notes and of the Class D Notes, in each case immediately prior to such Distribution Date over (y) the Pool Balance as of the end of the immediately preceding Collection Period over (B) the sum of the Class A Principal Parity Amount, the Class B Principal Parity Amount and the Class C Principal Parity Amount for such Distribution Date and (II) the amount of Total Available Funds remaining on deposit in the Collection Account after the funding of the items described in clauses (i) through (xii) of Section 5.7(a) on such Distribution Date.

Closing Date” means February 12, 2010.

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

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

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

Collection Period” means, with respect to the first Distribution Date, the period beginning as of the close of business on February 2, 2010 and ending as of the close of business on February 28, 2010. With respect to each subsequent Distribution Date, “Collection Period” means the period beginning as of the close of business on the last day of the second preceding calendar month and ending as of the close of business on the last day of the immediately preceding calendar month. Any amount stated “as of the close of business” shall give effect to the following calculations as determined as of the end of the day on such day: (i) all applications of collections and (ii) all distributions.

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

Commission” means the United States Securities and Exchange Commission.

 

4


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

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

Controlling Party” means the Trust Collateral Agent, for the benefit of the Noteholders.

Corporate Trust Office” means (i) with respect to the Owner Trustee, the principal corporate trust office of the Owner Trustee, which at the time of execution of this agreement is Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890-0001, Attention: Corporate Trust Administration, and (ii) with respect to the Trustee, the Trust Collateral Agent and the Backup Servicer, the principal office thereof at which at any particular time its corporate trust business shall be administered, which at the time of execution of this agreement is Sixth Street and Marquette Avenue, MAC N9311-161, Minneapolis, Minnesota 55479, Attention: Corporate Trust Office.

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

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

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

Cutoff Date” means February 2, 2010.

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

 

5


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

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

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

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

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

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

 

6


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

Determination Date” means, with respect to any Collection Period, the second Business Day prior to the related Distribution Date.

Distribution Date” means, with respect to each Collection Period, the fifteenth day of the following calendar month, or, if such day is not a Business Day, the immediately following Business Day, commencing March 15, 2010. If AmeriCredit is no longer acting as Servicer, the distribution date may be a different day of the month.

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

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

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

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

(b) demand deposits, time deposits or certificates of deposit of any depository institution or trust company incorporated under the laws of the United States of America or any state thereof or the District of Columbia (or any domestic branch of a foreign bank) and subject to supervision and examination by federal or state banking or depository institution authorities (including depository receipts issued by any such institution or trust company as custodian with respect to any obligation referred to in clause (a) above or portion of such obligation for the benefit of the holders of such depository receipts); provided, however, that at the time of the investment or contractual commitment to invest therein (which shall be deemed to be made again each time funds are reinvested following each Distribution Date), the commercial paper or other short-term senior unsecured debt obligations (other than such obligations the rating of which is based on the credit of a Person other than such depository institution or trust company) of such depository institution or trust company shall have a credit rating from Standard & Poor’s of A-1+ and from Moody’s of Prime-1;

 

7


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

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

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

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

(g) any other investment which would satisfy the Rating Agency Condition and is consistent with the ratings of the Securities or any other investment that by its terms converts to cash within a finite period, if the Rating Agency Condition is satisfied with respect thereto; and

(h) cash denominated in United States dollars.

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

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

FDIC” means the Federal Deposit Insurance Corporation.

Final Scheduled Distribution Date” means with respect to (i) the Class A-1 Notes, the February 15, 2011 Distribution Date, (ii) the Class A-2 Notes, the January 15, 2013 Distribution Date, (iii) the Class A-3 Notes, the March 17, 2014 Distribution Date, (iv) the Class B Notes, the November 17, 2014 Distribution Date, (v) the Class C Notes, the August 17, 2015 Distribution Date and (vi) the Class D Notes, the July 17, 2017 Distribution Date.

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

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

Indenture” means the Indenture dated as of February 2, 2010, between the Issuer and Wells Fargo Bank, National Association, as Trust Collateral Agent and Trustee, as the same may be amended and supplemented from time to time.

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

 

8


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

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

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

Interest Period” means, with respect to any Distribution Date, the period from and including the most recent Distribution Date on which interest has been paid (or in the case of the first Distribution Date, from and including the Closing Date) to, but excluding, the following Distribution Date. In the case of the first Distribution Date, the Interest Period shall be 31 days for the Class A-1 Notes, and 33 days for the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes and the Class D Notes.

Interest Rate” means, with respect to (i) the Class A-1 Notes, 0.29642% per annum (computed on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period), (ii) the Class A-2 Notes, 0.97% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months), (iii) the Class A-3 Notes, 1.66% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months), (iv) the Class B Notes, 3.72% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months), (v) the Class C Notes, 5.19% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months) and (vi) the Class D Notes, 6.65% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

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

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

 

9


Issuer” means AmeriCredit Automobile Receivables Trust 2010-1.

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

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

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

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

Liquidation Proceeds” means, with respect to a Liquidated Receivable, all amounts realized with respect to such Receivable and, with respect to a Sold Receivable, the related Sale Amount.

Liquidity” means, with respect to any date, (A) unrestricted cash on such date and (B) amounts available to be drawn under the credit facilities of AmeriCredit Corp. and its consolidated subsidiaries, as defined by GAAP, so long as AmeriCredit Corp. and its consolidated subsidiaries can satisfy all conditions precedent to borrowing such amounts under such facilities.

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

Lockbox Account Agreement” means the Lockbox Account Agreement, dated as of February 2, 2010, by and among AmeriCredit, JPMorgan Chase Bank, N.A. and the Trust Collateral Agent, as such agreement may be amended or supplemented from time to time, unless the Trust Collateral Agent shall cease to be a party thereunder, or such agreement shall be terminated in accordance with its terms, in which event “Lockbox Account Agreement” shall mean any replacement agreement therefor among the Servicer, the Trust Collateral Agent and the Lockbox Bank.

 

10


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

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

Lockbox Processing Agreement” means the Lockbox Processing Agreement, dated as of February 2, 2010, by and among the Lockbox Processor, the Servicer and the Trust Collateral Agent, as such agreement may be amended or supplemented from time to time.

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

Majority Noteholders” means the Holders of Notes representing a majority of the principal balance of the most senior Class of Notes then outstanding.

Matured Principal Shortfall” means, with respect to any Distribution Date and for any Class of Notes which would have a remaining principal balance greater than zero on such Distribution Date, after taking into account the payment of all other principal amounts to such Class on such Distribution Date, and as to which such Distribution Date is either the Final Scheduled Distribution Date for such Class, or a Distribution Date subsequent to such Final Scheduled Distribution Date, the remaining principal balance of such Class on such Distribution Date, after taking into account the payment of all other principal amounts to such Class on such Distribution Date.

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

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

 

11


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

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

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

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

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

Noteholders’ Distributable Amount” means, with respect to any Distribution Date, the sum of the Noteholders’ Principal Distributable Amount and the Noteholders’ Interest Distributable Amount.

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

Noteholders’ Interest Distributable Amount” means, with respect to any Distribution Date and Class of Notes, the sum of the Noteholders’ Monthly Interest Distributable Amount for such Distribution Date and each Class of Notes and the Noteholders’ Interest Carryover Amount, if any for such Distribution Date and each such Class. Interest on the Class A-1 Notes shall be computed on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period; interest on all other Classes of Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months, except with respect to the first Interest Period when the Interest Period with respect to the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes and the Class D Notes will be 33 days.

Noteholders’ Monthly Interest Distributable Amount” means, with respect to any Distribution Date and any Class of Notes, interest accrued at the respective Interest Rate during the applicable Interest Period on the principal amount of the Notes of such Class outstanding as of the end of the prior Distribution Date (or, in the case of the first Distribution Date, as of the Closing Date), calculated (x) for the Class A-1 Notes on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period and (y) for all other Classes of

 

12


Notes on the basis of a 360-day year consisting of twelve 30-day months (without adjustment for the actual number of business days elapsed in the applicable Interest Period), except with respect to the first Interest Period.

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

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

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

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

Opinion of Counsel” means a written opinion of counsel satisfactory in form and substance to the Trust Collateral Agent.

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

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

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

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

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

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

 

13


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

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

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

Principal Distributable Amount” means, with respect to any Distribution Date, the amount equal to the excess, if any, of (x) the sum of (i) the principal portion of all Collected Funds received during the immediately preceding Collection Period (other than Liquidated Receivables and Purchased Receivables), (ii) the Principal Balance of all Receivables that became Liquidated Receivables during the related Collection Period (other than Purchased Receivables), (iii) the principal portion of the Purchase Amounts received with respect to all Receivables that became Purchased Receivables during the related Collection Period, (iv) the aggregate amount of Cram Down Losses that shall have occurred during the related Collection Period; and (v) following the acceleration of the Notes pursuant to Section 5.2 of the Indenture, the amount of money or property collected pursuant to Section 5.4 of the Indenture since the preceding Determination Date by the Trust Collateral Agent for distribution pursuant to Section 5.7 hereof over (y) the Step-Down Amount, if any, for such Distribution Date.

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

Prospectus Supplement” means the prospectus supplement, dated as of February 4, 2010, relating to the offering of the Notes, as filed with the Commission.

Purchase Agreement” means the Purchase Agreement between the Seller and AmeriCredit, dated as of February 2, 2010, pursuant to which the Seller acquires the Receivables, as such Agreement may be amended from time to time.

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

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

Rating Agency” means Moody’s and Standard & Poor’s. If no such organization or successor maintains a rating on the Securities, “Rating Agency” shall be a nationally recognized statistical rating organization or other comparable Person designated by the Seller, notice of which designation shall be given to the Trust Collateral Agent, the Owner Trustee and the Servicer.

 

14


Rating Agency Condition” means, with respect to any action, that Moody’s and Standard & Poor’s shall have been given 10 days’ (or such shorter period as shall be acceptable to each Rating Agency) prior notice thereof and that (a) with respect to Standard & Poor’s, such Rating Agency has notified the Seller, the Servicer, the Owner Trustee and the Trust Collateral Agent in writing that such action will not result in a reduction or withdrawal of the then current rating of any Class of Notes, and (b) with respect to Moody’s, such Rating Agency has not notified the Seller, the Servicer, the Owner Trustee or the Trust Collateral Agent in writing that such action will result in a reduction or withdrawal of the then current rating of any Class of Notes.

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

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

Receivable Files” means the documents specified in Section 3.3.

Record Date” means, with respect to each Distribution Date, the Business Day immediately preceding such Distribution Date, unless otherwise specified in the Indenture.

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

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

Required Pro Forma Note Balance” means, with respect to any Distribution Date, a dollar amount equal to (x) the Pool Balance as of the end of the prior calendar month minus (y) the excess of (i) 23.25% of the Pool Balance as of the end of the prior calendar month over (ii) the Specified Reserve Balance.

Reserve Account” means the account designated as such, established and maintained pursuant to Section 5.1(a)(iii) hereof.

Reserve Account Deposit Amount” means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xv) of Section 5.7(a).

 

15


Reserve Account Withdrawal Amount” means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xiv) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

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

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

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

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

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

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

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

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

 

16


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

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

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

Servicing Fee” has the meaning specified in Section 4.8.

Servicing Fee Rate” means 2.25% per annum.

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

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

Specified Reserve Balance” means, with respect to any Distribution Date, $13,793,165.90; provided, that the Specified Reserve Balance will in no event exceed the outstanding principal amount of the Notes on such Distribution Date after giving effect to distributions pursuant to clauses (i) through (xv) of Section 5.7(a) hereof.

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

Step-Down Amount” means, with respect to any Distribution Date, the excess, if any, of (x) the Required Pro Forma Note Balance over (y) the Pro Forma Note Balance on such Distribution Date, calculated for this purpose only without deduction for any Step-Down Amount (i.e., assuming that the entire amount described in clause (x) of the definition of “Principal Distributable Amount” is distributed as principal on the Notes); provided, however, that the Step-Down Amount in no event may exceed the amount that would reduce the positive difference, if any, of the Pool Balance minus the Pro Forma Note Balance, to an amount less than $10,344,874.43, which is 1.50% of the initial Pool Balance.

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

 

17


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

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

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

Total Available Funds” has the meaning assigned thereto in Section 5.7(a).

Trust” means the Issuer.

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

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

Trust Agreement” means the Trust Agreement dated as of January 11, 2010, between the Seller and the Owner Trustee, as amended and restated as of February 2, 2010 as the same may be amended and supplemented from time to time.

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

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

Trust Property” means the property and proceeds conveyed pursuant to Section 2.1, together with certain monies paid on or after the Cutoff Date, the Collection Account (including all Eligible Investments therein and all proceeds therefrom), the Lockbox Account, the Reserve

 

18


Account (including all Eligible Investments therein and all proceeds therefrom), the Note Distribution Account (including all Eligible Investments therein and all proceeds therefrom) and certain other rights under this Agreement.

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

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

SECTION 1.2. Other Definitional Provisions.

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

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

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

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

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

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

 

19


ARTICLE II

Conveyance of Receivables

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

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

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

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

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

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

(f) the related Receivable Files;

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

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

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

SECTION 2.2. [Reserved]

SECTION 2.3. Further Encumbrance of Trust Property.

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

 

20


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

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

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

SECTION 2.4. Intention of the Parties.

The execution and delivery of this Agreement shall constitute an acknowledgment by the Seller and the Issuer that they intend that the assignment and transfer herein contemplated constitute a sale and assignment outright, and not for security, of the Receivables and Other Conveyed Property, for non-tax purposes, conveying good title thereto free and clear of any Liens, from the Seller to the Issuer, and that the Receivables and the Other Conveyed Property shall not be a part of the Seller’s estate in the event of a bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other proceeding under any federal or state bankruptcy or similar law, or the occurrence of another similar event, of, or with respect to the Seller. In the event that such conveyance is determined to be made as security for a loan made by the Issuer, the Noteholders or the Certificateholder to the Seller, the Seller hereby grants to the Issuer a security interest in all of the Seller’s right, title and interest in and to the following property for the benefit of the Issuer Secured Parties, whether now owned or existing or hereafter acquired or arising, and this Agreement shall constitute a security agreement under applicable law (collectively, the “Sale and Servicing Agreement Collateral”):

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

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

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

 

21


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

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

(vi) the related Receivable Files;

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

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

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

ARTICLE III

The Receivables

SECTION 3.1. Representations and Warranties of Seller. The Seller hereby represents and warrants that each of the representations and warranties set forth on the Schedule of Representations attached hereto as Schedule B is true and correct on which the Issuer is deemed to have relied in acquiring the Receivables. Such representations and warranties speak as of the execution and delivery of this Agreement and as of the Closing Date, but shall survive the sale, transfer and assignment of the Receivables to the Issuer and the pledge thereof to the Trust Collateral Agent pursuant to the Indenture and shall not be waived.

SECTION 3.2. Repurchase upon Breach.

(a) The Seller, the Servicer, the Backup Servicer, the Trust Collateral Agent or the Owner Trustee, as the case may be, shall inform the other parties to this Agreement promptly, by notice in writing, upon the discovery of any breach of the Seller’s representations and warranties made pursuant to Section 3.1. As of the last day of the second (or, if the Seller so elects, the first) month following the discovery by the Seller or receipt by the Seller of notice of such breach, unless such breach is cured by such date, the Seller shall have an obligation to repurchase any Receivable in which the interests of the Noteholders are materially and adversely affected by any such breach as of such date. The “second month” shall mean the month following the month in which discovery occurs or notice is given, and the “first month” shall mean the month in which discovery occurs or notice is given. In consideration of and simultaneously with the repurchase of the Receivable, the Seller shall remit, or cause AmeriCredit to remit, to the Collection Account

 

22


the Purchase Amount in the manner specified in Section 5.6 and the Issuer shall execute such assignments and other documents reasonably requested by such person in order to effect such repurchase. The sole remedy of the Issuer, the Owner Trustee, the Trust Collateral Agent, the Trustee, the Backup Servicer or the Noteholders with respect to a breach of representations and warranties pursuant to Section 3.1 and the agreement contained in this Section shall be the repurchase of Receivables pursuant to this Section, subject to the conditions contained herein or to enforce the obligation of AmeriCredit to the Seller to repurchase such Receivables pursuant to the Purchase Agreement. Neither the Owner Trustee, the Trust Collateral Agent nor the Trustee shall have a duty to conduct any affirmative investigation as to the occurrence of any conditions requiring the repurchase of any Receivable pursuant to this Section.

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

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

SECTION 3.3. Custody of Receivable Files.

(a) In connection with the sale, transfer and assignment of the Receivables and the Other Conveyed Property to the Trust pursuant to this Agreement and simultaneously with the execution and delivery of this Agreement, the Trust Collateral Agent shall enter into the Custodian Agreement with the Custodian, dated as of February 2, 2010, pursuant to which the Trust Collateral Agent shall revocably appoint the Custodian, and the Custodian shall accept such appointment, to act as the agent of the Trust Collateral Agent as custodian of the following documents or instruments in its possession or control (the “Receivable Files”) which shall be delivered to the Custodian as agent of the Trust Collateral Agent on or before the Closing Date (with respect to each Receivable):

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

(ii) The Lien Certificate (when received), and otherwise such documents, if any, that AmeriCredit keeps on file in accordance with its customary procedures indicating that the Financed Vehicle is owned by the Obligor and subject to the interest of AmeriCredit (or an Originating Affiliate or a Titled Third-Party Lender) as first

 

23


lienholder or secured party (including any Lien Certificate received by AmeriCredit), or, if such Lien Certificate has not yet been received, a copy of the application therefor, showing AmeriCredit (or an Originating Affiliate or a Titled Third-Party Lender) as secured party.

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

ARTICLE IV

Administration and Servicing of Receivables

SECTION 4.1. Duties of the Servicer and the Backup Servicer

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

 

24


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

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

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

 

25


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

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

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

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

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

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

 

26


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

(d) The Servicer shall use its best efforts to notify or direct Obligors to make all payments on the Receivables, whether by check or by direct debit of the Obligor’s bank account, to be made directly to one or more Lockbox Banks or Lockbox Processors pursuant to the Lockbox Agreements, acting as agent for the Trust pursuant to a Lockbox Account Agreement. The Servicer shall use its best efforts to notify or direct any Lockbox Bank or Lockbox Processor to deposit all payments on the Receivables in the Lockbox Account no later than the Business Day after receipt, and to cause all amounts credited to the Lockbox Account on account of such payments to be transferred to the Collection Account no later than the second Business Day after receipt of such payments. The Lockbox Account shall be a demand deposit account held by the Lockbox Bank.

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

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

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

 

27


successor Servicer. In the event that the Majority Noteholders elect to change the identity of the Lockbox Bank or Lockbox Processor, the outgoing Servicer, at its expense, shall cause the Lockbox Bank or Lockbox Processor to deliver, at the direction of the Majority Noteholders to the Trust Collateral Agent or a successor Lockbox Bank or Lockbox Processor, all documents and records relating to the Receivables and all amounts held (or thereafter received) by the Lockbox Bank or the Lockbox Processor (together with an accounting of such amounts) and shall otherwise use its best efforts to effect the orderly and efficient transfer of the lockbox arrangements and the Servicer shall notify the Obligors to make payments to the lockbox arrangements established by the successor.

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

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

 

28


SECTION 4.3. Realization upon Receivables.

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

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

 

29


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

SECTION 4.4. Insurance.

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

 

30


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

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

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

 

31


SECTION 4.5. Maintenance of Security Interests in Vehicles.

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

(b) Upon the occurrence of a Servicer Termination Event, the Trust Collateral Agent and the Servicer shall take or cause to be taken such action as may, in the Opinion of Counsel to the Majority Noteholders, be necessary to perfect or re-perfect the security interests in the Financed Vehicles securing the Receivables in the name of the Trust by amending the title documents of such Financed Vehicles or by such other reasonable means as may, in the Opinion of Counsel to the Majority Noteholders, be necessary or prudent.

AmeriCredit hereby agrees to pay all expenses related to such perfection or reperfection and to take all action necessary therefor. AmeriCredit hereby appoints the Trust Collateral Agent as its attorney-in-fact to take any and all steps required to be performed by AmeriCredit pursuant to this Section 4.5(b) (it being understood that and agreed that the Trust Collateral Agent shall have no obligation to take such steps with respect to all perfection or reperfection, except as pursuant to the Basic Documents to which it is a party and to which AmeriCredit has paid all expenses), including execution of Lien Certificates or any other documents in the name and stead of AmeriCredit, and the Trust Collateral Agent hereby accepts such appointment.

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

(a) The Servicer covenants as follows:

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

 

32


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

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

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

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

SECTION 4.7. Purchase of Receivables Upon Breach of Covenant. Upon discovery by any of the Servicer, a Responsible Officer of the Trust Collateral Agent, the Owner Trustee, a Responsible Officer of the Backup Servicer or a Responsible Officer of the Trustee of a breach of any of the covenants set forth in Sections 1, 2 or 3 of the Custodian Agreement or in Sections 4.5(a) or 4.6 hereof, the party discovering such breach shall give prompt written notice to the others; provided, however, that the failure to give any such notice shall not affect any obligation of AmeriCredit as Servicer under this Section. As of the second Accounting Date following its discovery or receipt of notice of any breach of any covenant set forth in Section 3(b) of the Custodian Agreement or Sections 4.5(a) or 4.6 hereof which materially and adversely affects the interests of the Noteholders in any Receivable (including any Liquidated Receivable) (or, at AmeriCredit’s election, the first Accounting Date so following) or the related Financed Vehicle, AmeriCredit shall, unless such breach shall have been cured in all material respects, purchase from the Trust the Receivable affected by such breach and, on the related Determination Date, AmeriCredit shall pay the related Purchase Amount. It is understood and agreed that the obligation of AmeriCredit to purchase any Receivable (including any Liquidated Receivable) with respect to which such a breach has occurred and is continuing shall, if such obligation is fulfilled, constitute the sole remedy against AmeriCredit for such breach available to the Noteholders, the Owner Trustee, the Backup Servicer or the Trust Collateral Agent; provided, however, that AmeriCredit shall indemnify the Trust, the Backup Servicer, the Owner Trustee, the Trust Collateral Agent, the Trustee and the Noteholders from and against all costs, expenses, losses, damages, claims and liabilities, including reasonable fees and expenses of counsel, which

 

33


may be asserted against or incurred by any of them as a result of third party claims arising out of the events or facts giving rise to such breach. Notwithstanding anything to the contrary contained herein, AmeriCredit will not be required to repurchase Receivables due solely to the Servicer’s not having received Lien Certificates that have been properly applied for from the Registrar of Titles in the applicable states for such Receivables unless (i) such Lien Certificates shall not have been received with respect to Receivables with Principal Balances which total more than 1.0% of the Aggregate Principal Balance as of the 180th day after the Closing Date, in which case AmeriCredit shall be required to repurchase a sufficient number of such Receivables to cause the aggregate Principal Balances of the remaining Receivables for which no such Lien Certificate shall have been received to be no greater than 1.0% of the Aggregate Principal Balance as of such date or (ii) such Lien Certificates shall not have been received as of the 240th day after the Closing Date. This Section shall survive the termination of this Agreement and the earlier removal or resignation of the Trustee and/or the Trust Collateral Agent and/or the Backup Servicer.

SECTION 4.8. Total Servicing Fee; Payment of Certain Expenses by Servicer. On each Distribution Date, the Servicer shall be entitled to receive out of the Collection Account the Base Servicing Fee and any Supplemental Servicing Fee for the related Collection Period (together, the “Servicing Fee”) pursuant to Section 5.7. The Servicer shall be required to pay all expenses incurred by it in connection with its activities under this Agreement (including taxes imposed on the Servicer, expenses incurred in connection with distributions and reports made by the Servicer to the Noteholders and all other fees and expenses of the Owner Trustee, the Backup Servicer, the Trust Collateral Agent or the Trustee, except taxes levied or assessed against the Trust, and claims against the Trust in respect of indemnification, which taxes and claims in respect of indemnification against the Trust are expressly stated to be for the account of AmeriCredit). The Servicer shall be liable for the fees and expenses of the Owner Trustee, the Backup Servicer, the Trust Collateral Agent, the Trustee, the Custodian, the Lockbox Bank (and any fees under the Lockbox Account Agreement), the Lockbox Processor (and any fees under the Lockbox Processing Agreement) and the Independent Accountants. Notwithstanding the foregoing, if the Servicer shall not be AmeriCredit, a successor to AmeriCredit as Servicer including the Backup Servicer permitted by Section 9.3 shall not be liable for taxes levied or assessed against the Trust or claims against the Trust in respect of indemnification, or the fees and expenses referred to above.

SECTION 4.9. Servicer’s Certificate.

No later than noon Eastern time on each Determination Date, the Servicer shall deliver (facsimile delivery being acceptable) to the Trustee, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer and each Rating Agency a Servicer’s Certificate executed by a Responsible Officer of the Servicer containing among other things: (i) all information necessary to enable the Trust Collateral Agent to make the distributions required by Sections 5.7(a) and 5.7(b); (ii) a listing of all Purchased Receivables and Sold Receivables purchased by the Servicer or sold by the Issuer as of the related Accounting Date, identifying the Receivables so purchased by the Servicer or sold by the Issuer, (iii) all information necessary to enable the Backup Servicer to verify the items specified in Section 4.13(ii) (as set forth in the Monthly Tape delivered pursuant to Section 4.13); (iv) all information necessary to enable the Trust Collateral Agent to send the statements to Noteholders required by Section 5.9, and; (iv) all information

 

34


necessary to enable the Trust Collateral Agent to reconcile the aggregate cash flows, the Collection Account for the related Collection Period and Distribution Date. Receivables purchased by the Servicer or by the Seller on the related Accounting Date and each Receivable which became a Liquidated Receivable or which was paid in full during the related Collection Period shall be identified by account number (as set forth in the Schedule of Receivables).

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

(a) To the extent required by Section 1123 of Regulation AB, the Servicer, shall deliver to the Trustee, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer and each Rating Agency, on or before March 31 of each year (regardless of whether the Seller has ceased filing reports under the Exchange Act), beginning on March 31, 2011, an officer’s certificate signed by any Responsible Officer of the Servicer, dated as of December 31 of the previous calendar year, stating that (i) a review of the activities of the Servicer during the preceding calendar year (or such other period as shall have elapsed from the Closing Date to the date of the first such certificate) and of its performance under this Agreement has been made under such officer’s supervision, and (ii) to such officer’s knowledge, based on such review, the Servicer has fulfilled in all material respects all its obligations under this Agreement throughout such period, or, if there has been a failure to fulfill any such obligation in any material respect, identifying each such failure known to such officer and the nature and status of such failure.

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

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

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

 

35


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

SECTION 4.11. Annual Independent Public Accountants’ Reports.

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

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

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

 

36


SECTION 4.12. Access to Certain Documentation and Information Regarding Receivables. The Servicer shall provide to representatives of the Trustee, the Owner Trustee, the Trust Collateral Agent and the Backup Servicer reasonable access to the documentation regarding the Receivables. In each case, such access shall be afforded without charge but only upon reasonable request and during normal business hours. Nothing in this Section shall affect the obligation of the Servicer to observe any applicable law prohibiting disclosure of information regarding the Obligors, and the failure of the Servicer to provide access as provided in this Section as a result of such obligation shall not constitute a breach of this Section.

SECTION 4.13. Monthly Tape. No later than the second Business Day after each Distribution Date, the Servicer will deliver to the Trust Collateral Agent and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Trust Collateral Agent and the Backup Servicer) in a format acceptable to the Trust Collateral Agent and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer’s Certificate relating to the immediately preceding Determination Date and necessary to review the application of collections as provided in Section 5.4 (the “Monthly Tape”). The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Trust Collateral Agent and the Backup Servicer) to (i) confirm that such tape, diskette or other electronic transmission is in readable form, and (ii) calculate and confirm (A) the aggregate amount distributable as principal on the related Distribution Date to each Class of Notes, (B) the aggregate amount distributable as interest on the related Distribution Date to each Class of Notes, (C) any amounts distributable on the related Distribution Date which are to be paid with funds withdrawn from the Reserve Account, (D) the outstanding principal amount of each Class of Notes after giving effect to all distributions made pursuant to clause (A), above, (E) the Note Pool Factor for each Class of Notes after giving effect to all distributions made pursuant to clause (A), above, and (F) the aggregate Noteholders’ Principal Carryover Amount and the aggregate Noteholders’ Interest Carryover Amount on such Distribution Date after giving effect to all distributions made pursuant to clauses (A) and (B), above, respectively. The Backup Servicer shall certify to the Trustee that it has verified the Servicer’s Certificate in accordance with this Section and shall notify the Servicer and the Trustee of any discrepancies, in each case, on or before the fifth Business Day following the Distribution Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the next succeeding Distribution Date, but in the absence of a reconciliation, the Servicer’s Certificate shall control for the purpose of calculations and distributions with respect to the next succeeding Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer’s Certificate by the next succeeding Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer’s expense, to audit the Servicer’s Certificate and, prior to the last day of the month after the month in which such Servicer’s Certificate was delivered, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer’s Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Controlling Party (acting at the written direction of the Majority Noteholders), deliver to the Backup Servicer or any successor Servicer its Collection Records and its Monthly Records within 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables.

 

37


Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer.

ARTICLE V

Trust Accounts; Distributions; Statements to Noteholders

SECTION 5.1. Establishment of Trust Accounts.

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

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

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

(b) Funds on deposit in the Collection Account, the Reserve Account and the Note Distribution Account (collectively, the “Trust Accounts”) shall be invested by the Trust Collateral Agent (or any custodian with respect to funds on deposit in any such account) in Eligible Investments selected in writing by the Servicer (pursuant to standing instructions or otherwise). All such Eligible Investments shall be held by or on behalf of the Trust Collateral Agent for the benefit of the Noteholders. Other than as permitted by the Rating Agencies, funds on deposit in any Trust Account shall be invested in Eligible Investments that will mature so that such funds will be available at the close of business on the Business Day immediately preceding the following Distribution Date. All Eligible Investments will be held to maturity. Each institution at which the relevant Trust Account is maintained shall invest the funds therein as directed in writing by the Servicer in Eligible Investments.

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

 

38


perfected in such investment, in either case without any further action by any Person, and, in connection with any direction to the Trust Collateral Agent to make any such investment, if requested by the Trust Collateral Agent, the Servicer shall deliver to the Trust Collateral Agent an Opinion of Counsel, acceptable to the Trust Collateral Agent, to such effect.

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

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

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

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

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

 

39


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

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

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

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

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

(g) The Servicer shall have the power to instruct the Trust Collateral Agent to make withdrawals and payments from the Trust Accounts for the purpose of permitting the Servicer and the Trust Collateral Agent to carry out its respective duties hereunder.

SECTION 5.2. [Reserved]

SECTION 5.3. Certain Reimbursements to the Servicer. The Servicer will be entitled to be reimbursed from amounts on deposit in the Collection Account with respect to a Collection Period for amounts previously deposited in the Collection Account but later determined by the Servicer to have resulted from mistaken deposits or postings or checks returned for insufficient funds. The amount to be reimbursed hereunder shall be paid to the Servicer on the related Distribution Date pursuant to Section 5.7(a)(i) upon certification by the Servicer of such amounts and the provision of such information to the Trust Collateral Agent. The Servicer will additionally be entitled to receive from amounts on deposit in the Collection Account with respect to a Collection Period any amounts paid by Obligors that were deposited in the Lockbox Account but that do not relate to (i) principal and interest payments due on the Receivables and (ii) any fees or expenses related to extensions due on the Receivables.

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

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

 

40


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

SECTION 5.5. [Reserved].

SECTION 5.6. Additional Deposits.

(a) The Servicer and the Seller, as applicable, shall deposit or cause to be deposited in the Collection Account on the Determination Date on which such obligations are due the aggregate Purchase Amount with respect to Purchased Receivables and the aggregate Sale Amounts with respect to Sold Receivables.

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

SECTION 5.7. Distributions.

(a) On each Distribution Date, the Trust Collateral Agent shall (based solely on the information contained in the Servicer’s Certificate delivered with respect to the related Determination Date) apply or cause to be applied the sum of (x) the Available Funds (after withdrawing amounts deposited in error and Liquidation Proceeds relating to Purchased Receivables) for the related Collection Period and (y) the Reserve Account Withdrawal Amount for such Distribution Date (such sum, the “Total Available Funds”) to distribute the following amounts from the Collection Account unless otherwise specified, to the extent of the sources of funds stated to be available therefore, and in the following order of priority:

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

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

 

41


(iii) from the Total Available Funds, to the Class A Noteholders, pari passu, the Noteholders’ Interest Distributable Amount for the Class A Notes for such Distribution Date;

(iv) from the Total Available Funds, for distribution as provided in paragraph (b) below, the Class A Principal Parity Amount;

(v) from the Total Available Funds, for distribution as provided in paragraph (b) below, any Matured Principal Shortfall on account of the Class A Notes;

(vi) from the Total Available Funds, to the Class B Noteholders, the Noteholders’ Interest Distributable Amount for the Class B Notes for such Distribution Date;

(vii) from the Total Available Funds, for distribution as provided in paragraph (b) below, the Class B Principal Parity Amount;

(viii) from the Total Available Funds, for distribution as provided in paragraph (b) below, any Matured Principal Shortfall on account of the Class B Notes;

(ix) from the Total Available Funds, to the Class C Noteholders, the Noteholders’ Interest Distributable Amount for the Class C Notes for such Distribution Date;

(x) from the Total Available Funds, for distribution as provided in paragraph (b) below, the Class C Principal Parity Amount;

(xi) from the Total Available Funds, for distribution as provided in paragraph (b) below, any Matured Principal Shortfall on account of the Class C Notes;

(xii) from the Total Available Funds, to the Class D Noteholders, the Noteholders’ Interest Distributable Amount for the Class D Notes for such Distribution Date;

(xiii) from the Total Available Funds, for distribution as provided in paragraph (b) below, the Class D Principal Parity Amount;

(xiv) from the Total Available Funds, for distribution as provided in paragraph (b) below, any Matured Principal Shortfall on account of the Class D Notes;

(xv) from the Total Available Funds, for distribution as provided in paragraph (b) below, the Noteholders’ Principal Distributable Amount;

(xvi) from the Total Available Funds, to the Reserve Account, the Reserve Account Deposit Amount for such Distribution Date;

(xvii) from the Total Available Funds, for distribution as provided in paragraph (b) below, the Accelerated Principal Amount;

 

42


(xviii) from the Total Available Funds, to pay each of the Indenture Trustee, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer, the Lockbox Bank, the Lockbox Processor and the successor servicer any fees, expenses and indemnities then due to such party that are in excess of the related cap or annual limitation specified in clauses (i) and (ii) above; and

(xix) from the Total Available Funds, to the Certificateholders, the aggregate amount remaining in the Collection Account.

On any Distribution Date with respect to which no Servicer’s Certificate was delivered, to the extent there are Available Funds in the Collection Account, the Trust Collateral Agent will make payments of the Noteholders’ Interest Distributable Amounts described in (iii), (vi), (ix) and (xii) above as well as any Matured Principal Shortfalls described in (v), (viii), (xi) and (xiv) above.

(b) On each Distribution Date, the Trust Collateral Agent shall apply or cause to be applied the aggregate of the amounts described in clause (iv), (v), (vii), (viii), (x), (xi), (xiii), (xiv), (xiv) and (xv) of paragraph (a) above on that Distribution Date in the listed order of priority:

(i) to the Class A-1 Noteholders in reduction of the remaining principal balance of the Class A-1 Notes, until the outstanding principal balance thereof has been reduced to zero;

(ii) to the Class A-2 Noteholders in reduction of the remaining principal balance of the Class A-2 Notes, until the outstanding principal balance thereof has been reduced to zero;

(iii) to the Class A-3 Noteholders in reduction of the remaining principal balance of the Class A-3 Notes, until the outstanding principal balance thereof has been reduced to zero;

(iv) to the Class B Noteholders in reduction of the remaining principal balance of the Class B Notes, until the outstanding principal balance thereof has been reduced to zero;

(v) to the Class C Noteholders in reduction of the remaining principal balance of the Class C Notes, until the outstanding principal balance thereof has been reduced to zero;

(vi) to the Class D Noteholders in reduction of the remaining principal balance of the Class D Notes, until the outstanding principal balance thereof has been reduced to zero;

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

 

43


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

(d) In the event that any withholding tax is imposed on the Trust’s payment (or allocations of income) to a Noteholder, such tax shall reduce the amount otherwise distributable to the Noteholder in accordance with this Section. The Trust Collateral Agent is hereby authorized and directed to retain from amounts otherwise distributable to the Noteholders sufficient funds for the payment of any tax attributable to the Trust (but such authorization shall not prevent the Trust Collateral Agent from contesting any such tax in appropriate proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings). The amount of any withholding tax imposed with respect to a Noteholder shall be treated as cash distributed to such Noteholder at the time it is withheld by the Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution (such as a distribution to a non-US Noteholder), the Trust Collateral Agent may in its sole discretion withhold such amounts in accordance with this clause (c). In the event that a Noteholder wishes to apply for a refund of any such withholding tax, the Trust Collateral Agent shall reasonably cooperate with such Noteholder in making such claim so long as such Noteholder agrees to reimburse the Trust Collateral Agent for any out-of-pocket expenses (including legal fees and expenses) incurred.

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

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

SECTION 5.8. Reserve Account.

(i) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

 

44


(ii) The Seller may, from time to time after the date hereof, request each Rating Agency to approve a formula for determining the Specified Reserve Balance that is different from the formula set forth herein, which may result in a decrease in the amount of the Specified Reserve Balance or change the manner by which the Reserve Account is funded. Notwithstanding any other provision of this Agreement, if each Rating Agency then rating the Notes notifies the Trust Collateral Agent and the Seller in writing that the use of any such new formula, and any decrease in the amount of the Specified Reserve Balance or change in the manner by which the Reserve Account is funded, will not result in the qualification, reduction or withdrawal of its then current rating of the Notes then the Specified Reserve Balance will be determined in accordance with such new formula and this Agreement will be amended to reflect such new formula without the consent of any Noteholder.

(iii) On each Distribution Date, the Servicer shall instruct the Trust Collateral Agent (based on the information contained in the Servicer’s Certificate delivered on the related Determination Date) (A) if the amount on deposit in the Reserve Account (without taking into account any amount on deposit in the Reserve Account representing net investment earnings) is less than the Specified Reserve Balance, in which case the Trust Collateral Agent shall, after payment of any amounts required to be distributed pursuant to clauses (i) through (xv) of Section 5.7(a) deposit in the Reserve Account the Reserve Account Deposit Amount pursuant to Section 5.7(a)(xvi), and (B) if the amount on deposit in the Reserve Account, after giving effect to all other deposits thereto and withdrawals therefrom to be made on such Distribution Date is greater than the Specified Reserve Balance, in which case the Trust Collateral Agent shall distribute the amount such excess as part of Available Funds on such Distribution Date.

(b) On each Distribution Date, the Servicer shall instruct the Trust Collateral Agent (based on the information contained in the Servicer’s Certificate delivered on the related Determination Date) to withdraw the Reserve Account Withdrawal Amount from the Reserve Account and deposit such amounts in the Collection Account to be included as Total Available Funds for that Distribution Date.

(c) Amounts properly received by the Certificateholders pursuant to this Agreement shall not be available to the Trust Collateral Agent or the Trust for the purpose of making deposits to the Reserve Account, or making payments to the Noteholders, nor shall the Certificateholders be required to refund any amount properly received by it.

SECTION 5.9. Statements to Noteholders.

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

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

 

45


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

(iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds;

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

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

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

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

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

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

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

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

(b) The Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Trust Collateral Agent’s internet website, with the use of a password provided by the Trust Collateral Agent. The Trust Collateral Agent’s internet website will be located at www.CTSLink.com or at such other address as the Trust Collateral Agent shall notify the Noteholders from time to time. For assistance with regard to this service, Noteholders can call the Trust Collateral Agent’s Corporate Trust Office at (866) 846-4526. The Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

 

46


ARTICLE VI

[Reserved]

ARTICLE VII

The Seller

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

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

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

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

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

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

 

47


(f) No Violation. The consummation of the transactions contemplated by this Agreement and the Basic Documents and the fulfillment of the terms of this Agreement and the Basic Documents shall not conflict with, result in any breach of any of the terms and provisions of or constitute (with or without notice, lapse of time or both) a default under the certificate of incorporation or by-laws of the Seller, or any indenture, agreement, mortgage, deed of trust or other instrument to which the Seller is a party or by which it is bound, or result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement, mortgage, deed of trust or other instrument, other than this Agreement, or violate any law, order, rule or regulation applicable to the Seller of any court or of any federal or state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Seller or any of its properties.

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

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

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

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

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

SECTION 7.2. Corporate Existence

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

 

48


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

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

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

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

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

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

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

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

(a) The Seller shall indemnify, defend and hold harmless the Owner Trustee, the Issuer, the Trustee, the Backup Servicer and the Trust Collateral Agent and its officers, directors, employees and agents from and against any taxes that may at any time be asserted against any such Person with respect to the transactions or activities contemplated in this Agreement and any of the Basic Documents (except any income taxes arising out of fees paid to the Owner Trustee, the Trust Collateral Agent and the Trustee and except any taxes to which the Owner Trustee, the Trust Collateral Agent or the Trustee may otherwise be subject to, without regard to the transactions contemplated hereby), including any sales, gross receipts, general corporation, tangible or intangible personal property, privilege or license taxes (but, in the case of the Issuer, not including any taxes asserted with respect to, federal or other income taxes arising out of distributions on the Notes) and costs and expenses in defending against the same.

 

49


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

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

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

SECTION 7.4. Merger or Consolidation of, or Assumption of the Obligations of, Seller. Any Person (a) into which the Seller may be merged or consolidated, (b) which may result from any merger or consolidation to which the Seller shall be a party or (c) which may succeed to the properties and assets of the Seller substantially as a whole, which Person in any of the foregoing cases executes an agreement of assumption to perform every obligation of the Seller under this Agreement, shall be the successor to the Seller hereunder without the execution or filing of any document or any further act by any of the parties to this Agreement; provided, however, that (i) immediately after giving effect to such transaction, no representation or warranty made pursuant to Section 3.1 shall have been breached and no Servicer Termination Event, and no event which, after notice or lapse of time, or both, would become a Servicer Termination Event shall have happened and be continuing, (ii) the Seller shall have delivered to the Owner Trustee, the Trust Collateral Agent, the Backup Servicer and the Trustee an Officers’ Certificate and an Opinion of Counsel each stating that such consolidation, merger or succession and such agreement of assumption comply with this Section and that all conditions precedent, if any, provided for in this Agreement relating to such transaction have been complied with, (iii) the Rating Agency Condition shall have been satisfied with respect to such transaction and (iv) the Seller shall have delivered to the Owner Trustee, the Trust Collateral Agent, the Backup Servicer and the Trustee an Opinion of Counsel stating that, in the opinion of such counsel, either (A) all financing statements and continuation statements and amendments thereto have been executed and filed that are necessary fully to preserve and protect the interest of the Trust Collateral Agent, the Owner Trustee and the Trustee, respectively, in the Receivables and reciting the details of such filings or (B) no such action shall be necessary to preserve and protect

 

50


such interest. Notwithstanding anything herein to the contrary, the execution of the foregoing agreement of assumption and compliance with clauses (i), (ii), (iii) and (iv) above shall be conditions to the consummation of the transactions referred to in clauses (a), (b) or (c) above.

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

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

ARTICLE VIII

The Servicer and the Backup Servicer

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

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

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

 

51


(c) Due Qualification. The Servicer is duly qualified to do business as a foreign corporation, is in good standing and has obtained all necessary licenses and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business (including the servicing of the Receivables as required by this Agreement) requires or shall require such qualification;

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

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

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

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

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

 

52


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

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

(b) Due Qualification. The Backup Servicer is duly qualified to do business as a foreign corporation, is in good standing and has obtained all necessary licenses and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business (including the servicing of the Receivables as required by this Agreement) requires or shall require such qualification;

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

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

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

 

53


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

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

SECTION 8.3. Liability of Servicer and Backup Servicer; Indemnities.

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

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

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

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

 

54


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

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

(g) The Backup Servicer shall defend, indemnify and hold harmless the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, the Servicer, their respective officers, directors, agents and employees and the Noteholders from and against: (i) all costs, expenses, losses, damages, claims and liabilities, including reasonable fees and expenses of counsel and expenses of litigation arising out of or resulting from the use, ownership or operation by the Backup Servicer or any Affiliate thereof of any Financed Vehicle; and (ii) any and all costs, expenses, losses, claims, damages, and liabilities to the extent that such cost, expense, loss, claim, damage, or liability arose out of, or was imposed upon the Trust, the Owner Trustee, the Trustee, the Servicer or the Noteholders by reason of, the breach of this Agreement by the Backup Servicer, the violation of federal or state securities laws by the Backup Servicer, the negligence, misfeasance, or bad faith of the Backup Servicer in the performance of its duties under this Agreement or by reason of reckless disregard of its obligations and duties under this Agreement.

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

(i) Indemnification under this Article shall include, without limitation, reasonable fees and expenses of counsel and expenses of litigation. If the Servicer has made any indemnity payments pursuant to this Article and the recipient thereafter collects any of such amounts from others, the recipient shall promptly repay such amounts collected to the Servicer, without interest.

 

55


Notwithstanding anything contained herein to the contrary, any indemnification payable by the Servicer to the Backup Servicer, to the extent not paid by the Servicer, shall be paid solely from Section 5.7(a) of this Agreement.

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

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

(a) AmeriCredit shall not merge or consolidate with any other Person, convey, transfer or lease substantially all its assets as an entirety to another Person, or permit any other Person to become the successor to AmeriCredit’s business unless, after the merger, consolidation, conveyance, transfer, lease or succession, the successor or surviving entity shall be capable of fulfilling the duties of AmeriCredit contained in this Agreement and shall be acceptable to the Majority Noteholders, and shall be an eligible servicer. Any corporation (i) into which AmeriCredit may be merged or consolidated, (ii) resulting from any merger or consolidation to which AmeriCredit shall be a party, (iii) which acquires by conveyance, transfer, or lease substantially all of the assets of AmeriCredit, or (iv) succeeding to the business of AmeriCredit, in any of the foregoing cases shall execute an agreement of assumption to perform every obligation of AmeriCredit under this Agreement and, whether or not such assumption agreement is executed, shall be the successor to AmeriCredit under this Agreement without the execution or filing of any paper or any further act on the part of any of the parties to this Agreement, anything in this Agreement to the contrary notwithstanding; provided, however, that nothing contained herein shall be deemed to release AmeriCredit from any obligation. AmeriCredit shall provide notice of any merger, consolidation or succession pursuant to this Section to the Owner Trustee, the Trust Collateral Agent, the Noteholders and each Rating Agency. Notwithstanding the foregoing, AmeriCredit shall not merge or consolidate with any other Person or permit any other Person to become a successor to AmeriCredit’s business, unless (x) immediately after giving effect to such transaction, no representation or warranty made pursuant to Section 4.6 shall have been breached (for purposes hereof, such representations and warranties shall speak as of the date of the consummation of such transaction), (y) AmeriCredit shall have delivered to the Owner Trustee, the Trust Collateral Agent, the Trustee, the Backup Servicer and the Rating Agencies an Officer’s Certificate and an Opinion of Counsel each stating that such consolidation, merger or succession and such agreement of assumption comply with this Section and that all conditions precedent, if any, provided for in this Agreement relating to such transaction have been complied with, and (z) AmeriCredit shall have delivered to the Owner Trustee, the Trust Collateral Agent, the Trustee, the Backup Servicer and the Rating Agencies an Opinion of Counsel, stating in the opinion of such counsel, either (A) all financing statements and continuation statements and amendments thereto have been executed and filed that are necessary to preserve and protect the interest of the Trust in the Receivables and the Other Conveyed Property and reciting the details of the filings or (B) no such action shall be necessary to preserve and protect such interest.

 

56


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

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

(a) Neither AmeriCredit, the Backup Servicer nor any of the directors or officers or employees or agents of AmeriCredit or Backup Servicer shall be under any liability to the Trust or the Noteholders, except as provided in this Agreement, for any action taken or for refraining from the taking of any action pursuant to this Agreement; provided, however, that this provision shall not protect AmeriCredit, the Backup Servicer or any such person against any liability that would otherwise be imposed by reason of a breach of this Agreement or willful misfeasance, bad faith or negligence (excluding errors in judgment) in the performance of duties; provided, further, that this provision shall not affect any liability to indemnify the Trust Collateral Agent and the Owner Trustee for costs, taxes, expenses, claims, liabilities, losses or damages paid by the Trust Collateral Agent and the Owner Trustee, in their individual capacities. AmeriCredit, the Backup Servicer and any director, officer, employee or agent of AmeriCredit or Backup Servicer may rely in good faith on the written advice of counsel or on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising under this Agreement.

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

 

57


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

SECTION 8.6. Delegation of Duties. The Servicer may delegate duties under this Agreement to an Affiliate of AmeriCredit without first obtaining the consent of any Person. The Servicer also may at any time perform through sub-contractors the specific duties of (i) repossession of Financed Vehicles, (ii) tracking Financed Vehicles’ insurance and (iii) pursuing the collection of deficiency balances on certain Liquidated Receivables, in each case, without the consent of the Trust Collateral Agent, the Owner Trustee or the Backup Servicer and may perform other specific duties through such sub-contractors in accordance with Servicer’s customary servicing policies and procedures, with the prior consent of the Trust Collateral Agent. No delegation or sub-contracting by the Servicer of its duties herein in the manner described in this Section 8.6 shall relieve the Servicer of its responsibility with respect to such duties.

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

 

58


ARTICLE IX

Default

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

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

(b) Failure by the Servicer to deliver to the Trust Collateral Agent the Servicer’s Certificate by the first Business Day prior to the Distribution Date, or failure on the part of the Servicer to observe its covenants and agreements set forth in Section 8.4(a); or

(c) Failure on the part of the Servicer duly to observe or perform any other covenants or agreements of the Servicer set forth in this Agreement, which failure (i) materially and adversely affects the rights of Noteholders, and (ii) continues unremedied for a period of 30 days after knowledge thereof by the Servicer or after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Servicer by the Trust Collateral Agent; or

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

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

 

59


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

(g) AmeriCredit Corp. and its subsidiaries, determined on a consolidated basis in accordance with GAAP, have less than $70,000,000 of Liquidity on the last day of any Collection Period.

SECTION 9.2. Consequences of a Servicer Termination Event. If a Servicer Termination Event shall occur and be continuing, the Trust Collateral Agent or the Majority Noteholders, by notice given in writing to the Servicer (and to the Trust Collateral Agent if given by the Noteholders) may terminate all of the rights and obligations of the Servicer under this Agreement. On or after the receipt by the Servicer of such written notice or upon termination of the term of the Servicer, all authority, power, obligations and responsibilities of the Servicer under this Agreement, whether with respect to the Notes, the Certificates or the Other Conveyed Property or otherwise, automatically shall pass to, be vested in and become obligations and responsibilities of the Backup Servicer (or such other successor Servicer appointed by the Majority Noteholders); provided, however, that the successor Servicer shall have no liability with respect to any obligation which was required to be performed by the terminated Servicer prior to the date that the successor Servicer becomes the Servicer or any claim of a third party based on any alleged action or inaction of the terminated Servicer. The successor Servicer is authorized and empowered by this Agreement to execute and deliver, on behalf of the terminated Servicer, as attorney-in-fact or otherwise, any and all documents and other instruments and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and endorsement of the Receivables and the Other Conveyed Property and related documents to show the Trust as lienholder or secured party on the related Lien Certificates, or otherwise. The terminated Servicer agrees to cooperate with the successor Servicer in effecting the termination of the responsibilities and rights of the terminated Servicer under this Agreement, including, without limitation, the transfer to the successor Servicer for administration by it of all cash amounts that shall at the time be held by the terminated Servicer for deposit, or have been deposited by the terminated Servicer, in the Collection Account or thereafter received with respect to the Receivables and the delivery to the successor Servicer of all Receivable Files, Monthly Records and Collection Records and a computer tape in readable form as of the most recent Business Day containing all information necessary to enable the successor Servicer to service the Receivables and the Other Conveyed Property. If requested by the Controlling Party (acting at the written direction of the Majority Noteholders), the successor Servicer shall terminate the Lockbox Agreements and direct the Obligors to make all payments under the Receivables directly to the successor Servicer (in which event the successor Servicer shall process such payments in accordance with Section 4.2(e)), or to a lockbox established by the successor Servicer at the direction of the Majority Noteholders, at the successor Servicer’s expense. The terminated Servicer shall grant the Trust Collateral Agent, the successor Servicer and the Majority Noteholders reasonable access to the terminated Servicer’s premises at the terminated Servicer’s expense.

 

60


SECTION 9.3. Appointment of Successor.

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

(b) The Controlling Party (acting at the written direction of the Majority Noteholders) may exercise at any time its right to appoint as Backup Servicer or as successor to the Servicer a Person other than the Person serving as Backup Servicer at the time, and shall have no liability to the Trust Collateral Agent, AmeriCredit, the Seller, the Person then serving as Backup Servicer, any Noteholders or any other Person if it does so. Notwithstanding the above, if the Backup Servicer shall be legally unable or unwilling to act as Servicer, the Backup Servicer, the Trust Collateral Agent or the Majority Noteholders may petition a court of competent jurisdiction to appoint any eligible servicer as the successor to the Servicer. Pending appointment pursuant to the preceding sentence, the Backup Servicer shall act as successor Servicer unless it is legally unable to do so, in which event the outgoing Servicer shall continue to act as Servicer until a successor has been appointed and accepted such appointment. Subject to Section 8.7, no provision of this Agreement shall be construed as relieving the Backup Servicer of its obligation to succeed as successor Servicer upon the termination of the Servicer pursuant to Section 9.2 or the resignation of the Servicer pursuant to Section 8.7. If upon the termination of the Servicer pursuant to Section 9.2 or the resignation of the Servicer pursuant to Section 8.7, the Majority Noteholders appoint a successor Servicer other than the Backup Servicer, the Backup Servicer shall not be relieved of its duties as Backup Servicer hereunder. In the event any successor Servicer is terminated pursuant to Section 9.2 hereof, the Controlling Party (acting at the written direction of the Majority Noteholders) shall appoint an eligible servicer as successor Servicer or may petition a court of competent jurisdiction to appoint a Person that it determines is competent to perform the duties of the Servicer hereunder as successor Servicer. Pending appointment pursuant to the preceding sentence, the outgoing Servicer shall continue to act as Servicer until a successor has been appointed and accepted such appointment.

(c) Any successor Servicer shall be entitled to such compensation (whether payable out of the Collection Account or otherwise) as the Servicer would have been entitled to under this Agreement if the Servicer had not resigned or been terminated hereunder or such other compensation as set forth herein. If any successor Servicer is appointed, as a result of the Backup Servicer’s refusal (in breach of the terms of this Agreement) to act as Servicer although it is legally able to do so, the Seller and such successor Servicer may agree on reasonable additional compensation to be paid to such successor Servicer, provided, however, it being understood and agreed that the Seller shall give prior notice to the Backup Servicer with respect to the

 

61


appointment of such successor and the payment of additional compensation, if any. If any successor Servicer is appointed for any reason other than the Backup Servicer’s refusal to act as Servicer although legally able to do so, the Majority Noteholders and such successor Servicer may agree on additional compensation to be paid to such successor Servicer, which additional compensation shall in no event exceed $150,000 in the aggregate. The Backup Servicer shall be liable for any Servicing Fee, additional compensation or other amounts to be paid to such successor Servicer in connection with its assumption and performance of the servicing duties described herein if, and only if, such successor Servicer is appointed due to the Backup Servicer’s refusal to act as Servicer although legally able to do so, which additional compensation and other amounts shall in no event exceed $150,000 in the aggregate.

(d) Notwithstanding anything contained in this Agreement to the contrary, the Backup Servicer is authorized to accept and rely on all of the accounting records (including computer records) and work of the prior Servicer relating to the Receivables (collectively, the “Predecessor Servicer Work Product”) without any audit or other examination thereof, and the Backup Servicer shall have no duty, responsibility, obligation or liability for the acts and omissions of the prior Servicer. If any error, inaccuracy, omission or incorrect or non-standard practice or procedure (collectively, “Errors”) exist in any Predecessor Servicer Work Product and such Errors make it materially more difficult to service or should cause or materially contribute to the Backup Servicer making or continuing any Errors (collectively, “Continuing Errors”), the Backup Servicer shall have no duty, responsibility, obligation or liability for such Continuing Errors; provided, however, that the Backup Servicer agrees to use its best efforts to prevent further Continuing Errors. In the event that the Backup Servicer becomes aware of Errors or Continuing Errors, it shall, with the prior consent of the Controlling Party use its best efforts to reconstruct and reconcile such data as is commercially reasonable to correct such Errors and Continuing Errors and to prevent future Continuing Errors. The Backup Servicer shall be entitled to recover its costs thereby expended in accordance with Section 5.7(a) of this Agreement.

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

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

SECTION 9.6. Backup Servicer Termination. Prior to an appointment as successor Servicer, the Controlling Party may, in its discretion, or shall, at the direction of the Majority Noteholders, (a) terminate all of the rights and obligations of the Backup Servicer under this Agreement in the event of a breach of any of the representations or warranties, covenants or obligations of the Backup Servicer contained in this Agreement or (b) in its sole discretion, without cause upon not less than 30 days’ notice, terminate the rights and obligations of the Backup Servicer. The terminated Backup Servicer agrees to cooperate with any successor Backup Servicer appointed by the Controlling Party in effecting the termination of the

 

62


responsibilities and rights of the terminated Backup Servicer under this Agreement, including, without limitation, the delivery to the successor Backup Servicer of all documents, records and electronic information related to the Receivables in the possession of the Backup Servicer. Expenses incurred by the Backup Servicer in respect of the foregoing sentence shall be reimbursed in accordance with Section 5.7(a).

ARTICLE X

Termination

SECTION 10.1. Optional Purchase of All Receivables.

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

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

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

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

 

63


ARTICLE XI

Administrative Duties of the Servicer

SECTION 11.1. Administrative Duties.

(a) Duties with Respect to the Indenture. The Servicer shall perform all its duties and the duties of the Issuer under the Indenture. In addition, the Servicer shall consult with the Owner Trustee as the Servicer deems appropriate regarding the duties of the Issuer under the Indenture. The Servicer shall monitor the performance of the Issuer and shall advise the Owner Trustee when action is necessary to comply with the Issuer’s duties under the Indenture. The Servicer shall prepare for execution by the Issuer or shall cause the preparation by other appropriate Persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the Issuer to prepare, file or deliver pursuant to the Indenture. In furtherance of the foregoing, the Servicer shall take all necessary action that is the duty of the Issuer to take pursuant to the Indenture, including, without limitation, pursuant to Sections 2.7, 3.5, 3.6, 3.7, 3.9, 3.10, 3.17, 5.1, 5.4, 7.3, 8.4, 9.2, 9.3, 11.1 and 11.15 of the Indenture.

(b) Duties with Respect to the Issuer.

(i) In addition to the duties of the Servicer set forth in this Agreement or any of the Basic Documents, the Servicer shall perform such calculations and shall prepare for execution by the Issuer or the Owner Trustee or shall cause the preparation by other appropriate Persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the Issuer or the Owner Trustee to prepare, file or deliver pursuant to this Agreement or any of the Basic Documents or under state and federal tax and securities laws (including any filings required pursuant to the Sarbanes-Oxley Act of 2002 or any rule or regulation promulgated thereunder), and at the request of the Owner Trustee shall take all appropriate action that it is the duty of the Issuer to take pursuant to this Agreement or any of the Basic Documents, including, without limitation, pursuant to Sections 2.6 and 2.11 of the Trust Agreement. In accordance with the directions of the Issuer or the Owner Trustee, the Servicer shall administer, perform or supervise the performance of such other activities in connection with the Collateral (including the Basic Documents) as are not covered by any of the foregoing provisions and as are expressly requested by the Issuer or the Owner Trustee and are reasonably within the capability of the Servicer. The Servicer shall monitor the activities of the Issuer to ensure the Issuer’s compliance with Section 4.6 of the Trust Agreement and shall take all action necessary to ensure that the Issuer is operated in accordance with the provisions of such section.

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

 

64


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

(iv) The Servicer shall perform the duties of the Servicer specified in Section 9.2 of the Trust Agreement required to be performed in connection with the resignation or removal of the Owner Trustee, the duties of the Servicer specified in Section 10.11 of the Trust Agreement including those required to be performed in connection with the Term Asset-Backed Securities Loan Facility, and any other duties expressly required to be performed by the Servicer under this Agreement or any of the Basic Documents.

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

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

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

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

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

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

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

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

 

65


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

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

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

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

ARTICLE XII

Miscellaneous Provisions

SECTION 12.1. Amendment. This Agreement may be amended from time to time by the parties hereto, with the consent of the Trustee (which consent may not be unreasonably withheld) but without the consent of any of the Noteholders, to cure any ambiguity, to correct or supplement any provisions in this Agreement, to comply with any changes in the Code, or to make any other provisions with respect to matters or questions arising under this Agreement which shall not be inconsistent with the provisions of this Agreement; provided, however, that such action shall not, as evidenced by an Opinion of Counsel delivered to Owner Trustee and the Trustee, adversely affect in any material respect the interests of any Noteholder.

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

 

66


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

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

Prior to the execution of any amendment to this Agreement, the Owner Trustee, the Trustee, the Trust Collateral Agent and the Backup Servicer shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and the Opinion of Counsel referred to in Section 12.2(h)(1) has been delivered. The Owner Trustee, the Trust Collateral Agent, the Backup Servicer and the Trustee may, but shall not be obligated to, enter into any such amendment which affects the Issuer’s, the Owner Trustee’s, the Trust Collateral Agent’s, the Backup Servicer’s or the Trustee’s, as applicable, own rights, duties or immunities under this Agreement or otherwise.

SECTION 12.2. Protection of Title to Trust.

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

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

 

67


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

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

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

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

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

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

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

 

68


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

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

SECTION 12.3. Notices. All demands, notices and communications upon or to the Seller, the Servicer, the Owner Trustee, the Trustee, the Backup Servicer or the Rating Agencies under this Agreement shall be in writing, personally delivered, electronically delivered, mailed by certified mail, return receipt requested, federal express or similar overnight courier service, and shall be deemed to have been duly given upon receipt (a) in the case of the Seller to AFS SenSub Corp., 2265 B Renaissance Drive, Suite 17, Las Vegas, Nevada 89119, Attention: Chief Financial Officer, (b) in the case of the Servicer to AmeriCredit Financial Services, Inc., 801 Cherry Street, Suite 3500, Fort Worth, Texas 76102, Attention: Chief Financial Officer, (c) in the case of the Issuer or the Owner Trustee, at the Corporate Trust Office of the Owner Trustee, Wilmington Trust Company, Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890-0001, Attention: Corporate Trust Administration, (d) in the case of the Trustee, the Trust Collateral Agent or the Backup Servicer, Wells Fargo Bank, National Association Sixth Street and Marquette Avenue, MAC N9311-161, Minneapolis, Minnesota 55479, Attention: Corporate Trust Office, (e) in the case of Moody’s, to Moody’s Investors Service, Inc., ABS Monitoring Department, 7 World Trade Center at 250 Greenwich Street, Asset Finance Group – 24th Floor, New York, New York 10007; and (f) in the case of Standard & Poor’s, via electronic delivery to Servicer_reports@sandp.com, or, for any information not available in electronic format, to Standard & Poor’s Ratings Services, 55 Water Street, 41st Floor, New York, New York 10041-0003, Attention: ABS Surveillance Group. Any notice required or permitted to be mailed to a Noteholder shall be given by first class mail, postage prepaid, at the address of such Holder as shown in the Note Register. Any notice so mailed within the time prescribed in the Agreement shall be conclusively presumed to have been duly given, whether or not the Noteholder shall receive such notice.

SECTION 12.4. Assignment. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns. Notwithstanding anything to the contrary contained herein, except as provided in Sections 7.4 and 8.5 and as provided in the provisions of this Agreement concerning the resignation of the Servicer, this Agreement may not be assigned by the Seller or the Servicer without the prior written consent of the Owner Trustee, the Trust Collateral Agent, the Backup Servicer, the Trustee and the Majority Noteholders.

 

69


SECTION 12.5. Limitations on Rights of Others. The provisions of this Agreement are solely for the benefit of the parties hereto, the Trustee and the Noteholders, as third-party beneficiaries. Nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in the Owner Trust Estate or under or in respect of this Agreement or any covenants, conditions or provisions contained herein.

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

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

SECTION 12.8. Headings. The headings of the various Articles and Sections herein are for convenience of reference only and shall not define or limit any of the terms or provisions hereof.

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

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

SECTION 12.11. Nonpetition Covenants.

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

 

70


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

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

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

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

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

SECTION 12.13. Independence of the Servicer. For all purposes of this Agreement, the Servicer shall be an independent contractor and shall not be subject to the supervision of the Issuer, the Trust Collateral Agent and the Backup Servicer or the Owner Trustee with respect to the manner in which it accomplishes the performance of its obligations hereunder. Unless expressly authorized by this Agreement, the Servicer shall have no authority to act for or represent the Issuer or the Owner Trustee in any way and shall not otherwise be deemed an agent of the Issuer or the Owner Trustee.

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

 

71


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

[Remainder of Page Intentionally Left Blank]

 

72


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

 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1

 

By: WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee on behalf of the Trust.

By:   /s/ Erik E. Overcash
 

Name: Erik E. Overcash

Title: Assistant Vice President

AFS SENSUB CORP.,

Seller,

By:   /s/ Sheli D. Fitzgerald
 

Name: Sheli D. Fitzgerald

Title: Vice President, Structured Finance

AMERICREDIT FINANCIAL SERVICES, INC., Servicer,
By:   /s/ Susan B. Sheffield
 

Name: Susan B. Sheffield

Title: Executive Vice President, Structured

          Finance

 

[Sale and Servicing Agreement]


WELLS FARGO BANK, NATIONAL ASSOCIATION,

not in its individual capacity but solely as Backup Servicer

By:   /s/ Marianna C. Stershic
 

Name: Marianna C. Stershic

Title: Vice President

 

Acknowledged and accepted by

WELLS FARGO BANK, NATIONAL ASSOCIATION,

not in its individual capacity but solely as Trust Collateral Agent

By:   /s/ Marianna C. Stershic
 

Name: Marianna C. Stershic

Title: Vice President

 

[Sale and Servicing Agreement]


SCHEDULE A

SCHEDULE OF RECEIVABLES

 

SCH-A-1


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
421584244   424440113   424730406   424980936   425213154   442642039   442684346   442710026   442735353   442760302
421626391   424440121   424730414   424980977   425213444   442642096   442684353   442710034   442735361   442760310
421750860   424440246   424730588   424980993   425213543   442642237   442684361   442710042   442735379   442760336
421848607   424440295   424730596   424981033   425213972   442642286   442684379   442710059   442735387   442760344
421964883   424440329   424730653   424981322   427294517   442642328   442684387   442710067   442735395   442760351
421976861   424440345   424730661   424981488   427334289   442642336   442684395   442710075   442735403   442760369
421986985   424440576   424730703   424981504   427352521   442642518   442684403   442710083   442735429   442760385
421990425   424440709   424730745   424981520   427815535   442642534   442684411   442710091   442735437   442760393
422017632   424441061   424730869   424981603   429034051   442642542   442684429   442710109   442735445   442760401
422046789   424441103   424731313   424981652   429209687   442642567   442684437   442710117   442735452   442760419
422049585   424441251   424731412   424981728   431943448   442642575   442684445   442710125   442735460   442760427
422053934   424441368   424731545   424981751   432880342   442642583   442684452   442710133   442735478   442760435
422056689   424441517   424731628   424981884   432924314   442642609   442684460   442710141   442735486   442760443
422080978   424441608   424731701   424982049   432954253   442642666   442684478   442710158   442735494   442760450
422096305   424441764   424731727   424982353   433320116   442642765   442684486   442710166   442735502   442760468
422197491   424441814   424731743   424982445   433335890   442642880   442684494   442710174   442735510   442760476
422205088   424442044   424731784   424982460   433665346   442642963   442684502   442710182   442735528   442760484
422244004   424442085   424732030   424982486   433694882   442643003   442684510   442710190   442735536   442760492
422277681   424442192   424732188   424982551   433710480   442643037   442684528   442710208   442735544   442760500
422312595   424442333   424732295   424982627   433717485   442643060   442684536   442710216   442735551   442760518
422324962   424442390   424732576   424982882   433727930   442643201   442684544   442710224   442735577   442760526
422351601   424442481   424732584   424982916   433736543   442643219   442684551   442710232   442735585   442760534
422352013   424442515   424732659   424983047   433742228   442643243   442684577   442710257   442735593   442760542
422370288   424442572   424732709   424983344   433751120   442643292   442684585   442710265   442735601   442760559
422376988   424442580   424732725   424983393   433758018   442643417   442684593   442710273   442735619   442760567
422390237   424442598   424732832   424983674   433791621   442643474   442684601   442710281   442735627   442760575
422406108   424442705   424733145   424983732   433795598   442643573   442684619   442710299   442735635   442760583
422446070   424442812   424733210   424983773   433809175   442643615   442684627   442710307   442735643   442760591
422448597   424442978   424733376   424983989   433815875   442643680   442684635   442710315   442735650   442760609
422451724   424443117   424733442   424984011   433816527   442643722   442684643   442710323   442735668   442760617
422471623   424443125   424733640   424984235   433823929   442643748   442684650   442710331   442735676   442760625
422523514   424443190   424733749   424984284   433824000   442643771   442684668   442710349   442735684   442760633
422569327   424443208   424733830   424984441   433833324   442643805   442684676   442710356   442735692   442760641
422575290   424443273   424733913   424984540   433841749   442643854   442684684   442710364   442735700   442760658
422576025   424443315   424733962   424984565   433844602   442644019   442684692   442710372   442735718   442760666
422614917   424443356   424734085   424984698   433853686   442644035   442684700   442710380   442735726   442760674
422620971   424443455   424734119   424984854   433863099   442644092   442684718   442710398   442735742   442760690
422642157   424443620   424734259   424984896   433863131   442644100   442684734   442710414   442735759   442760708
422649996   424443646   424734382   424985018   433870094   442644274   442684742   442710422   442735767   442760716
422696443   424443653   424734663   424985026   433873833   442644316   442684759   442710430   442735775   442760724
422755256   424444081   424735025   424985166   433893765   442644449   442684767   442710448   442735783   442760732
422760595   424444222   424735124   424985182   433926631   442644571   442684775   442710455   442735809   442760740
422765701   424444313   424735132   424985299   433927068   442644597   442684783   442710471   442735817   442760757
422801449   424444651   424735413   424985356   433929718   442644662   442684791   442710489   442735825   442760765
422839654   424444677   424735462   424985463   433949526   442644670   442684809   442710497   442735833   442760773
422845719   424444701   424735553   424985505   433952215   442644696   442684825   442710505   442735841   442760781
422886085   424444743   424735736   424985521   433953668   442644787   442684833   442710513   442735858   442760799
422897595   424444891   424735868   424985612   433954211   442645040   442684841   442710521   442735866   442760807
422942888   424445146   424735926   424985836   433972353   442645149   442684858   442710539   442735874   442760815
422968271   424445336   424735959   424985893   433977170   442645412   442684866   442710547   442735882   442760823
422970814   424445351   424736015   424985901   433988573   442645511   442684882   442710554   442735890   442760831
422976910   424445377   424736064   424985968   433992872   442645529   442684908   442710570   442735908   442760849
423003110   424445773   424736114   424986230   433993599   442645552   442684916   442710588   442735916   442760856
423014265   424445799   424736379   424986354   434008686   442645560   442684924   442710596   442735924   442760864
423030972   424446086   424736502   424986503   434011557   442645578   442684932   442710604   442735932   442760872
423046978   424446466   424736627   424986552   434013199   442645602   442684940   442710612   442735940   442760880
423059633   424446573   424736684   424986685   434015905   442645644   442684965   442710620   442735957   442760898
423078328   424446649   424736783   424986784   434019840   442645693   442684973   442710638   442735965   442760906
423086172   424446896   424736866   424986909   434021234   442645776   442684981   442710646   442735973   442760922
423086479   424447076   424736874   424987246   434021283   442645800   442684999   442710653   442735981   442760930
423115823   424447316   424737021   424987287   434022059   442646238   442685004   442710661   442735999   442760948
423147578   424447415   424737054   424987402   434023412   442646261   442685012   442710679   442736005   442760955
423148055   424447506   424737104   424987477   434025946   442646493   442685020   442710687   442736013   442760963
423152776   424447522   424737278   424987543   434026597   442646519   442685038   442710695   442736021   442760971
423222942   424447530   424737302   424987709   434036000   442646535   442685046   442710703   442736039   442760997
423250117   424447621   424737377   424987782   434038485   442646584   442685061   442710711   442736047   442761003
423257211   424448082   424737591   424987808   434049466   442646600   442685079   442710729   442736054   442761011

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442785119   442809844   442834636   442859336   442883559   442907978   442932299   442956512   442980355   443004106
442785127   442809851   442834644   442859344   442883567   442907986   442932307   442956520   442980363   443004114
442785143   442809869   442834651   442859351   442883575   442907994   442932315   442956538   442980371   443004122
442785150   442809885   442834669   442859369   442883583   442908000   442932323   442956546   442980389   443004130
442785168   442809893   442834677   442859377   442883591   442908018   442932331   442956553   442980397   443004148
442785176   442809901   442834685   442859385   442883609   442908034   442932349   442956561   442980405   443004155
442785184   442809919   442834693   442859393   442883625   442908042   442932356   442956579   442980413   443004163
442785192   442809927   442834701   442859401   442883633   442908059   442932364   442956587   442980421   443004171
442785200   442809935   442834719   442859419   442883641   442908067   442932372   442956595   442980439   443004189
442785218   442809943   442834727   442859427   442883658   442908075   442932380   442956603   442980447   443004197
442785226   442809950   442834735   442859435   442883674   442908083   442932398   442956611   442980454   443004205
442785234   442809968   442834743   442859443   442883682   442908091   442932406   442956629   442980462   443004213
442785242   442809976   442834750   442859450   442883690   442908109   442932414   442956637   442980470   443004221
442785259   442809984   442834768   442859468   442883708   442908117   442932422   442956645   442980488   443004239
442785267   442809992   442834776   442859476   442883724   442908125   442932448   442956652   442980496   443004247
442785275   442810008   442834784   442859484   442883732   442908133   442932455   442956660   442980504   443004254
442785283   442810016   442834792   442859492   442883740   442908141   442932463   442956678   442980512   443004262
442785291   442810024   442834800   442859500   442883757   442908158   442932471   442956686   442980520   443004270
442785309   442810032   442834818   442859518   442883765   442908166   442932489   442956694   442980538   443004288
442785317   442810040   442834826   442859526   442883773   442908174   442932497   442956702   442980546   443004296
442785325   442810057   442834834   442859542   442883781   442908182   442932505   442956710   442980553   443004304
442785333   442810065   442834842   442859559   442883799   442908190   442932513   442956728   442980561   443004312
442785341   442810073   442834859   442859567   442883807   442908208   442932521   442956736   442980579   443004320
442785358   442810081   442834867   442859575   442883815   442908216   442932539   442956744   442980587   443004338
442785366   442810099   442834875   442859583   442883823   442908224   442932547   442956751   442980595   443004346
442785374   442810107   442834883   442859591   442883831   442908232   442932554   442956769   442980603   443004353
442785382   442810115   442834891   442859609   442883849   442908240   442932562   442956777   442980611   443004361
442785390   442810131   442834909   442859617   442883856   442908257   442932570   442956785   442980629   443004379
442785408   442810149   442834925   442859625   442883864   442908265   442932588   442956793   442980637   443004387
442785416   442810156   442834933   442859633   442883872   442908273   442932596   442956801   442980645   443004395
442785424   442810164   442834941   442859641   442883880   442908281   442932604   442956819   442980652   443004403
442785432   442810172   442834958   442859658   442883898   442908299   442932612   442956827   442980660   443004411
442785440   442810180   442834966   442859666   442883906   442908307   442932620   442956835   442980678   443004429
442785457   442810198   442834974   442859674   442883914   442908315   442932638   442956843   442980686   443004437
442785465   442810206   442834982   442859682   442883922   442908323   442932646   442956850   442980694   443004445
442785473   442810214   442834990   442859690   442883930   442908331   442932653   442956868   442980702   443004452
442785499   442810222   442835005   442859708   442883948   442908349   442932661   442956876   442980710   443004460
442785507   442810230   442835013   442859716   442883955   442908356   442932679   442956884   442980728   443004478
442785515   442810248   442835021   442859724   442883963   442908364   442932687   442956892   442980736   443004486
442785523   442810255   442835039   442859732   442883971   442908372   442932695   442956900   442980744   443004494
442785531   442810271   442835047   442859740   442883989   442908380   442932703   442956918   442980751   443004502
442785549   442810289   442835054   442859757   442883997   442908398   442932711   442956926   442980769   443004510
442785556   442810297   442835062   442859765   442884003   442908406   442932729   442956934   442980777   443004528
442785564   442810305   442835070   442859773   442884011   442908414   442932737   442956942   442980785   443004536
442785572   442810313   442835088   442859799   442884029   442908422   442932745   442956959   442980793   443004544
442785580   442810321   442835096   442859807   442884037   442908430   442932752   442956967   442980801   443004551
442785598   442810339   442835104   442859815   442884045   442908448   442932760   442956975   442980819   443004569
442785606   442810347   442835112   442859823   442884052   442908455   442932778   442956983   442980827   443004577
442785614   442810354   442835120   442859831   442884060   442908471   442932786   442956991   442980835   443004585
442785622   442810362   442835138   442859849   442884078   442908489   442932794   442957007   442980843   443004593
442785630   442810388   442835146   442859856   442884086   442908497   442932802   442957015   442980850   443004601
442785648   442810404   442835153   442859864   442884094   442908505   442932810   442957023   442980876   443004619
442785655   442810412   442835161   442859872   442884102   442908513   442932828   442957031   442980884   443004627
442785663   442810420   442835179   442859880   442884110   442908521   442932836   442957049   442980892   443004635
442785671   442810438   442835187   442859898   442884128   442908539   442932844   442957056   442980900   443004643
442785689   442810446   442835195   442859906   442884136   442908547   442932851   442957064   442980918   443004650
442785697   442810453   442835203   442859914   442884144   442908554   442932869   442957072   442980926   443004668
442785705   442810461   442835211   442859930   442884151   442908562   442932877   442957080   442980934   443004676
442785721   442810479   442835229   442859948   442884169   442908570   442932885   442957098   442980942   443004684
442785739   442810487   442835237   442859955   442884177   442908588   442932893   442957106   442980959   443004692
442785747   442810495   442835245   442859963   442884185   442908596   442932919   442957114   442980967   443004700
442785754   442810503   442835252   442859971   442884193   442908604   442932927   442957122   442980975   443004718
442785762   442810511   442835260   442859989   442884201   442908612   442932935   442957130   442980983   443004726
442785770   442810529   442835278   442859997   442884219   442908620   442932943   442957148   442980991   443004734
442785788   442810537   442835286   442860003   442884227   442908638   442932950   442957155   442981007   443004742
442785796   442810545   442835294   442860011   442884235   442908646   442932968   442957163   442981015   443004759
442785804   442810552   442835302   442860029   442884243   442908653   442932976   442957171   442981023   443004767


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
423267699   424448264   424737633   424987865   434051553   442646618   442685087   442710737   442736062   442761029
423284165   424448280   424737708   424987873   434076055   442646758   442685095   442710745   442736070   442761037
423299346   424448298   424737765   424987956   434113353   442646782   442685103   442710752   442736088   442761045
423322304   424448397   424738045   424987972   434125795   442646840   442685111   442710760   442736096   442761052
423330935   424448421   424738078   424988111   434128252   442646873   442685129   442710778   442736104   442761060
423331412   424448561   424738292   424988202   434200192   442647053   442685137   442710786   442736112   442761078
423359827   424448678   424738524   424988210   434210282   442647152   442685145   442710794   442736120   442761086
423375799   424448777   424738540   424988293   434635223   442647244   442685152   442710802   442736138   442761094
423387588   424448785   424738565   424988384   434664199   442647442   442685160   442710810   442736146   442761102
423387968   424448801   424738714   424988392   435245352   442647541   442685178   442710828   442736153   442761110
423397280   424448835   424738870   424988426   435676747   442647558   442685186   442710836   442736161   442761128
423445683   424448942   424738888   424988525   435946306   442647566   442685194   442710844   442736179   442761136
423462977   424449056   424738904   424988558   435961396   442647780   442685202   442710851   442736187   442761144
423469923   424449452   424739035   424989325   435968029   442647814   442685210   442710869   442736195   442761151
423479617   424449502   424739084   424989499   435981519   442647921   442685236   442710877   442736203   442761169
423492412   424449676   424739142   424989929   435998000   442648010   442685244   442710885   442736211   442761177
423510536   424449726   424739290   424989937   436005698   442648044   442685251   442710893   442736229   442761185
423515022   424449858   424739373   424990216   436020432   442648119   442685269   442710901   442736237   442761201
423516210   424450062   424739423   424990232   436063358   442648168   442685277   442710919   442736245   442761219
423527621   424450096   424739456   424990463   436115414   442648275   442685285   442710927   442736252   442761227
423533082   424450195   424739670   424990596   436121495   442648366   442685293   442710935   442736260   442761235
423535533   424450245   424740199   424990729   436133466   442648416   442685301   442710943   442736278   442761243
423561737   424450302   424740306   424990737   436208029   442648523   442685319   442710950   442736286   442761250
423565142   424450948   424740348   424990760   436213748   442648531   442685343   442710968   442736294   442761268
423565217   424450997   424740694   424990794   436228324   442648697   442685350   442710976   442736302   442761276
423582576   424451045   424741007   424990851   436239263   442648762   442685368   442711008   442736310   442761284
423583970   424451052   424741270   424990943   436256317   442648770   442685376   442711024   442736328   442761292
423585868   424451060   424741387   424990984   436257299   442648804   442685384   442711032   442736336   442761300
423591569   424451094   424741668   424991149   436257406   442648820   442685392   442711040   442736344   442761326
423601855   424451185   424741742   424991388   436261846   442648911   442685400   442711057   442736351   442761334
423610237   424451250   424741775   424991453   436301600   442648945   442685418   442711065   442736369   442761342
423616457   424451326   424741817   424991545   436303648   442648960   442685426   442711073   442736377   442761359
423616887   424451557   424741833   424991644   436310791   442649042   442685434   442711081   442736385   442761367
423620384   424451938   424741858   424991818   436325336   442649133   442685442   442711099   442736393   442761375
423623636   424452092   424741866   424991859   436340350   442649190   442685459   442711107   442736401   442761383
423624543   424452282   424741932   424991883   436341135   442649364   442685467   442711115   442736419   442761391
423631795   424452332   424741981   424991925   436352629   442649380   442685475   442711123   442736427   442761409
423633270   424452373   424742559   424992006   436363907   442649562   442685483   442711131   442736435   442761417
423644350   424452605   424742583   424992030   436375596   442649604   442685509   442711149   442736450   442761425
423647049   424452621   424742633   424992071   436382899   442649646   442685517   442711156   442736468   442761433
423671858   424452746   424742724   424992170   436396311   442649729   442685525   442711164   442736476   442761441
423676386   424452944   424742757   424992261   436429518   442649802   442685533   442711172   442736484   442761458
423677996   424452951   424742914   424992329   436429666   442649828   442685558   442711180   442736492   442761466
423686971   424453090   424742997   424992709   436439848   442649851   442685566   442711198   442736500   442761474
423693530   424453199   424743086   424992774   436443675   442649927   442685574   442711206   442736518   442761482
423695022   424453272   424743102   424992816   436458863   442649992   442685582   442711214   442736526   442761490
423705144   424453363   424743151   424992832   436464200   442650081   442685590   442711222   442736534   442761508
423705870   424453439   424743227   424992840   436473250   442650107   442685608   442711230   442736542   442761516
423709336   424453496   424743326   424992873   436474084   442650131   442685616   442711248   442736559   442761524
423714500   424453553   424743391   424992956   436476618   442650164   442685624   442711255   442736567   442761532
423719277   424453686   424743482   424993061   436476782   442650198   442685632   442711263   442736575   442761540
423721943   424453769   424743565   424993301   436478978   442650230   442685657   442711289   442736583   442761557
423730381   424454049   424743748   424993426   436493167   442650305   442685665   442711297   442736591   442761565
423737535   424454254   424743862   424993467   436494280   442650313   442685673   442711305   442736609   442761573
423738731   424454346   424743953   424993525   436504732   442650354   442685681   442711313   442736617   442761581
423739796   424454411   424743987   424993533   436518542   442650537   442685699   442711321   442736625   442761599
423741099   424454494   424744126   424993624   436542203   442650644   442685707   442711339   442736633   442761607
423754530   424454742   424744324   424993889   436560270   442650651   442685723   442711347   442736641   442761615
423762053   424454866   424744332   424993913   436561997   442650784   442685731   442711354   442736658   442761623
423775923   424455251   424744415   424994085   436567861   442650800   442685749   442711370   442736666   442761631
423785039   424455400   424744670   424994101   436568539   442650875   442685756   442711388   442736674   442761649
423795244   424455640   424744761   424994119   436594469   442650925   442685764   442711396   442736682   442761656
423799469   424455954   424744779   424994168   436608848   442651055   442685772   442711404   442736690   442761664
423800309   424456184   424744811   424994838   436629760   442651121   442685780   442711412   442736708   442761672
423806991   424456275   424745131   424994846   436629877   442651238   442685806   442711420   442736716   442761680
423810969   424456291   424745214   424994879   436638340   442651253   442685814   442711438   442736724   442761698
423811512   424456408   424745370   424995009   436660815   442651279   442685822   442711446   442736732   442761706

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442785812   442810560   442835310   442860037   442884250   442908661   442932984   442957189   442981031   443004775
442785820   442810578   442835328   442860052   442884268   442908679   442932992   442957197   442981049   443004783
442785838   442810586   442835336   442860060   442884276   442908687   442933008   442957213   442981056   443004791
442785846   442810594   442835344   442860078   442884284   442908695   442933016   442957221   442981064   443004809
442785853   442810602   442835351   442860086   442884292   442908703   442933024   442957239   442981072   443004817
442785879   442810610   442835369   442860094   442884300   442908711   442933032   442957247   442981080   443004825
442785887   442810628   442835377   442860102   442884318   442908729   442933040   442957254   442981098   443004833
442785895   442810636   442835385   442860110   442884326   442908737   442933057   442957262   442981106   443004841
442785903   442810644   442835393   442860128   442884334   442908745   442933065   442957270   442981114   443004858
442785911   442810651   442835401   442860136   442884342   442908760   442933073   442957288   442981122   443004866
442785929   442810669   442835419   442860144   442884359   442908778   442933081   442957296   442981130   443004874
442785937   442810677   442835427   442860151   442884367   442908786   442933099   442957304   442981148   443004882
442785945   442810685   442835435   442860169   442884375   442908794   442933107   442957312   442981155   443004890
442785952   442810693   442835443   442860177   442884383   442908802   442933115   442957320   442981163   443004908
442785960   442810719   442835450   442860185   442884391   442908810   442933123   442957338   442981171   443004916
442785978   442810727   442835468   442860193   442884409   442908828   442933131   442957346   442981189   443004924
442785986   442810735   442835476   442860201   442884417   442908844   442933149   442957353   442981197   443004932
442785994   442810743   442835484   442860219   442884425   442908869   442933156   442957361   442981205   443004940
442786000   442810750   442835492   442860227   442884433   442908877   442933172   442957379   442981221   443004957
442786026   442810768   442835500   442860235   442884441   442908885   442933180   442957387   442981239   443004965
442786034   442810776   442835518   442860243   442884458   442908893   442933198   442957395   442981247   443004973
442786042   442810784   442835526   442860250   442884466   442908901   442933206   442957403   442981254   443004981
442786059   442810800   442835534   442860268   442884474   442908919   442933214   442957411   442981262   443004999
442786067   442810818   442835542   442860276   442884482   442908927   442933222   442957429   442981270   443005004
442786075   442810826   442835559   442860284   442884490   442908935   442933230   442957437   442981288   443005012
442786083   442810834   442835567   442860292   442884516   442908943   442933248   442957445   442981296   443005020
442786109   442810842   442835575   442860300   442884524   442908950   442933255   442957452   442981304   443005038
442786117   442810859   442835583   442860318   442884532   442908968   442933263   442957460   442981312   443005046
442786125   442810867   442835591   442860326   442884540   442908976   442933271   442957478   442981320   443005053
442786133   442810875   442835609   442860334   442884557   442908984   442933289   442957486   442981338   443005061
442786141   442810883   442835617   442860342   442884565   442908992   442933297   442957494   442981346   443005079
442786158   442810891   442835625   442860359   442884573   442909008   442933305   442957502   442981353   443005087
442786166   442810909   442835633   442860367   442884581   442909016   442933313   442957510   442981361   443005095
442786182   442810917   442835641   442860375   442884599   442909024   442933321   442957528   442981379   443005103
442786190   442810925   442835658   442860383   442884607   442909032   442933339   442957536   442981387   443005111
442786216   442810933   442835666   442860391   442884615   442909040   442933347   442957544   442981395   443005129
442786224   442810941   442835674   442860409   442884623   442909057   442933354   442957551   442981403   443005137
442786232   442810958   442835682   442860417   442884631   442909065   442933362   442957569   442981411   443005145
442786240   442810966   442835690   442860425   442884649   442909073   442933370   442957577   442981429   443005152
442786257   442810974   442835708   442860433   442884656   442909081   442933388   442957585   442981437   443005160
442786265   442810982   442835716   442860441   442884664   442909099   442933396   442957593   442981445   443005178
442786273   442810990   442835724   442860458   442884672   442909107   442933404   442957601   442981452   443005186
442786281   442811006   442835732   442860466   442884680   442909115   442933412   442957619   442981460   443005194
442786299   442811014   442835740   442860474   442884698   442909123   442933420   442957627   442981478   443005202
442786307   442811022   442835757   442860482   442884706   442909131   442933438   442957635   442981486   443005210
442786323   442811030   442835765   442860490   442884714   442909149   442933446   442957650   442981494   443005228
442786331   442811048   442835773   442860508   442884722   442909156   442933453   442957668   442981502   443005236
442786349   442811055   442835781   442860516   442884730   442909164   442933461   442957676   442981510   443005244
442786356   442811071   442835799   442860524   442884748   442909172   442933479   442957684   442981528   443005251
442786364   442811089   442835807   442860532   442884755   442909180   442933487   442957692   442981536   443005269
442786372   442811097   442835815   442860540   442884763   442909198   442933495   442957700   442981544   443005277
442786380   442811105   442835823   442860557   442884771   442909206   442933503   442957718   442981551   443005285
442786398   442811113   442835831   442860565   442884789   442909214   442933511   442957726   442981569   443005293
442786406   442811139   442835849   442860573   442884797   442909222   442933529   442957734   442981577   443005301
442786414   442811147   442835856   442860581   442884805   442909230   442933537   442957742   442981585   443005319
442786422   442811154   442835864   442860599   442884813   442909248   442933545   442957759   442981593   443005327
442786430   442811162   442835872   442860607   442884821   442909255   442933552   442957767   442981601   443005335
442786448   442811170   442835880   442860615   442884847   442909263   442933560   442957775   442981619   443005343
442786455   442811188   442835898   442860623   442884862   442909271   442933578   442957783   442981627   443005350
442786463   442811196   442835906   442860631   442884870   442909289   442933586   442957791   442981635   443005368
442786471   442811204   442835914   442860649   442884888   442909297   442933594   442957809   442981643   443005376
442786489   442811212   442835922   442860656   442884896   442909305   442933602   442957817   442981650   443005384
442786497   442811220   442835930   442860664   442884904   442909313   442933610   442957825   442981668   443005392
442786505   442811238   442835948   442860672   442884912   442909321   442933628   442957833   442981676   443005400
442786513   442811246   442835955   442860680   442884920   442909339   442933636   442957841   442981684   443005418
442786521   442811253   442835963   442860698   442884938   442909347   442933644   442957858   442981692   443005426
442786547   442811261   442835971   442860706   442884946   442909354   442933651   442957866   442981700   443005434


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
423814821   424456432   424745388   424995207   436668172   442651311   442685830   442711453   442736740   442761714
423817352   424456564   424745511   424995322   436698401   442651360   442685848   442711461   442736757   442761722
423820596   424456630   424745552   424995348   436740120   442651394   442685855   442711479   442736765   442761730
423830694   424456721   424745628   424995488   436743611   442651584   442685863   442711487   442736773   442761748
423831650   424456796   424745719   424995769   436747448   442651667   442685871   442711495   442736781   442761755
423834662   424456820   424745727   424995801   436750517   442651675   442685889   442711503   442736799   442761763
423839935   424457075   424745859   424995926   436757918   442651717   442685897   442711511   442736807   442761771
423844182   424457216   424745867   424995959   436762728   442651725   442685913   442711537   442736815   442761789
423846963   424457232   424746055   424996155   436763411   442651766   442685921   442711545   442736823   442761797
423855394   424457463   424746667   424996205   436766562   442651782   442685939   442711552   442736831   442761805
423860097   424457562   424746931   424996353   436770457   442651816   442685947   442711560   442736849   442761813
423864552   424457737   424747012   424996502   436770879   442651873   442685954   442711578   442736856   442761821
423866318   424457745   424747251   424996569   436771315   442651949   442685970   442711586   442736864   442761839
423866755   424457950   424747418   424996965   436781892   442651964   442685996   442711594   442736872   442761847
423875970   424458123   424747442   424996973   436793236   442652061   442686002   442711602   442736880   442761854
423880558   424458149   424747509   424997104   436801179   442652228   442686010   442711610   442736898   442761862
423899855   424458495   424747566   424997120   436805865   442652277   442686028   442711628   442736906   442761870
423902501   424458537   424747731   424997187   436813158   442652301   442686036   442711636   442736914   442761888
423902675   424459162   424747772   424997302   436815658   442652335   442686044   442711644   442736930   442761896
423904119   424459345   424748051   424997310   436816466   442652368   442686051   442711651   442736948   442761904
423904903   424459618   424748069   424997484   436823058   442652392   442686069   442711669   442736955   442761912
423905942   424459733   424748077   424997559   436841316   442652418   442686077   442711677   442736963   442761920
423910249   424459790   424748101   424997633   436845366   442652426   442686085   442711685   442736971   442761938
423910686   424459923   424748143   424997682   436848923   442652483   442686093   442711693   442736989   442761953
423923754   424460012   424748200   424997807   436856348   442652491   442686101   442711701   442737003   442761961
423925528   424460129   424748259   424998094   436856793   442652566   442686119   442711719   442737011   442761979
423931534   424460160   424748275   424998367   436857163   442652582   442686127   442711727   442737029   442761987
423932292   424460541   424748358   424998375   436859052   442652640   442686135   442711735   442737037   442761995
423935071   424460715   424748382   424998557   436869952   442652657   442686143   442711743   442737045   442762001
423952449   424460913   424748416   424998748   436872857   442652673   442686150   442711768   442737052   442762019
423955962   424460921   424748531   424998912   436882682   442652707   442686168   442711776   442737060   442762027
423969146   424461002   424748655   424998961   436889315   442652723   442686176   442711784   442737078   442762035
423973031   424461077   424748762   424998987   436925655   442652863   442686184   442711792   442737086   442762043
423975713   424461150   424748952   424999449   436927644   442652913   442686192   442711800   442737094   442762050
423976893   424461184   424748986   424999480   436945380   442652921   442686200   442711818   442737110   442762068
423979194   424461200   424749018   424999530   436946578   442652947   442686218   442711826   442737128   442762076
423985159   424461424   424749091   424999662   436955207   442653358   442686226   442711834   442737136   442762092
423987338   424461432   424749513   424999951   436957021   442653366   442686234   442711842   442737144   442762100
423990274   424461549   424749570   424999993   436964886   442653416   442686242   442711859   442737151   442762118
423993849   424461788   424749588   425000056   436972905   442653473   442686259   442711867   442737169   442762126
424000180   424461846   424750099   425000130   436973804   442653713   442686267   442711875   442737177   442762134
424000248   424462307   424750123   425000155   436974679   442653861   442686275   442711883   442737185   442762142
424005809   424462315   424750164   425000213   436981302   442653945   442686283   442711891   442737193   442762159
424008324   424462372   424750214   425000304   436983142   442654026   442686291   442711909   442737201   442762167
424010197   424462539   424750289   425000767   436998652   442654067   442686309   442711917   442737219   442762175
424011039   424462661   424750362   425000775   437022064   442654133   442686317   442711925   442737227   442762183
424012862   424462752   424750529   425000981   437031552   442654174   442686325   442711933   442737235   442762191
424016228   424462794   424750560   425001195   437037708   442654299   442686333   442711941   442737243   442762209
424025856   424462810   424750669   425001385   437038425   442654422   442686341   442711958   442737250   442762217
424044576   424462976   424750677   425001666   437038656   442654448   442686358   442711966   442737268   442762225
424049278   424463123   424750768   425001765   437042435   442654562   442686366   442711974   442737276   442762233
424067387   424463271   424750800   425001773   437057474   442654653   442686374   442711982   442737284   442762241
424069821   424463412   424750842   425001849   437058605   442654661   442686382   442712006   442737292   442762258
424076867   424463776   424750958   425001922   437060106   442654679   442686390   442712014   442737300   442762266
424088458   424463859   424751105   425002078   437063001   442654802   442686408   442712022   442737318   442762274
424088904   424464204   424751204   425002102   437072689   442654828   442686416   442712030   442737326   442762282
424089332   424464451   424751303   425002185   437085962   442654877   442686432   442712048   442737334   442762290
424091791   424464667   424751311   425002201   437085970   442654885   442686440   442712055   442737342   442762308
424092112   424464675   424751451   425002219   437087547   442654893   442686457   442712063   442737359   442762316
424093201   424464964   424751535   425002243   437088198   442654968   442686465   442712071   442737367   442762324
424096931   424464972   424751758   425002276   437097900   442655015   442686473   442712089   442737375   442762332
424099018   424464980   424751766   425002292   437109556   442655049   442686481   442712097   442737383   442762340
424102085   424465037   424751840   425002375   437116015   442655114   442686499   442712105   442737391   442762357
424102242   424465185   424752087   425002474   437123094   442655197   442686507   442712113   442737425   442762365
424102960   424465193   424752251   425002508   437127285   442655247   442686523   442712121   442737433   442762373
424106961   424465243   424752277   425002532   437135072   442655346   442686531   442712139   442737441   442762381
424110310   424465839   424752384   425002540   437137615   442655353   442686549   442712147   442737458   442762399

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442786554   442811279   442835989   442860714   442884953   442909362   442933669   442957874   442981718   443005442
442786562   442811295   442835997   442860722   442884961   442909370   442933677   442957882   442981726   443005459
442786570   442811303   442836003   442860730   442884979   442909388   442933685   442957890   442981734   443005467
442786588   442811311   442836011   442860748   442884987   442909396   442933693   442957908   442981742   443005475
442786596   442811329   442836029   442860755   442884995   442909404   442933701   442957916   442981759   443005483
442786604   442811337   442836037   442860763   442885000   442909412   442933719   442957924   442981767   443005491
442786612   442811345   442836045   442860771   442885018   442909420   442933727   442957932   442981775   443005509
442786638   442811352   442836052   442860789   442885034   442909438   442933735   442957940   442981783   443005517
442786646   442811360   442836060   442860797   442885059   442909446   442933743   442957957   442981791   443005525
442786653   442811378   442836078   442860805   442885075   442909453   442933750   442957965   442981809   443005533
442786661   442811394   442836086   442860813   442885083   442909461   442933768   442957973   442981817   443005541
442786679   442811402   442836094   442860821   442885091   442909479   442933784   442957981   442981825   443005558
442786687   442811410   442836102   442860839   442885109   442909487   442933792   442957999   442981833   443005566
442786695   442811428   442836110   442860847   442885117   442909495   442933800   442958005   442981841   443005574
442786703   442811436   442836128   442860854   442885125   442909503   442933818   442958013   442981858   443005582
442786711   442811444   442836136   442860862   442885133   442909511   442933826   442958021   442981866   443005590
442786729   442811451   442836144   442860870   442885141   442909529   442933834   442958039   442981874   443005608
442786737   442811469   442836151   442860888   442885158   442909537   442933842   442958047   442981882   443005616
442786745   442811477   442836169   442860896   442885166   442909545   442933859   442958054   442981890   443005624
442786752   442811485   442836177   442860912   442885174   442909552   442933875   442958062   442981908   443005632
442786760   442811493   442836185   442860920   442885182   442909560   442933883   442958070   442981916   443005640
442786778   442811519   442836193   442860938   442885190   442909578   442933891   442958088   442981924   443005657
442786786   442811527   442836201   442860946   442885208   442909586   442933909   442958096   442981932   443005665
442786794   442811535   442836219   442860953   442885216   442909594   442933917   442958104   442981940   443005673
442786802   442811543   442836227   442860961   442885224   442909602   442933925   442958112   442981957   443005681
442786810   442811550   442836235   442860979   442885232   442909610   442933933   442958120   442981965   443005699
442786828   442811568   442836243   442860987   442885240   442909628   442933958   442958138   442981973   443005707
442786836   442811576   442836250   442860995   442885265   442909636   442933966   442958146   442981981   443005715
442786844   442811584   442836268   442861001   442885273   442909644   442933974   442958153   442981999   443005723
442786877   442811592   442836276   442861019   442885281   442909651   442933982   442958161   442982005   443005731
442786885   442811600   442836284   442861027   442885299   442909669   442933990   442958179   442982013   443005749
442786893   442811618   442836292   442861035   442885323   442909677   442934006   442958187   442982021   443005756
442786901   442811626   442836300   442861043   442885331   442909685   442934014   442958195   442982039   443005764
442786919   442811634   442836318   442861050   442885349   442909693   442934022   442958203   442982047   443005772
442786927   442811659   442836326   442861068   442885356   442909701   442934030   442958211   442982054   443005780
442786935   442811667   442836334   442861076   442885364   442909719   442934048   442958229   442982062   443005798
442786943   442811675   442836342   442861084   442885372   442909727   442934055   442958237   442982070   443005806
442786950   442811683   442836359   442861092   442885380   442909735   442934063   442958245   442982088   443005814
442786968   442811691   442836367   442861100   442885398   442909743   442934071   442958252   442982096   443005822
442786976   442811709   442836375   442861118   442885406   442909750   442934089   442958260   442982104   443005830
442786984   442811717   442836383   442861126   442885414   442909768   442934097   442958278   442982112   443005848
442786992   442811725   442836391   442861134   442885422   442909776   442934105   442958286   442982120   443005855
442787008   442811741   442836409   442861142   442885430   442909784   442934113   442958302   442982138   443005863
442787016   442811758   442836417   442861159   442885448   442909792   442934121   442958310   442982146   443005871
442787024   442811766   442836425   442861167   442885455   442909800   442934139   442958328   442982153   443005889
442787032   442811774   442836433   442861183   442885463   442909818   442934147   442958336   442982161   443005897
442787040   442811782   442836458   442861191   442885489   442909826   442934154   442958344   442982187   443005905
442787057   442811790   442836466   442861209   442885497   442909834   442934162   442958351   442982195   443005913
442787065   442811808   442836474   442861217   442885505   442909842   442934170   442958369   442982203   443005921
442787073   442811816   442836482   442861225   442885513   442909859   442934188   442958377   442982211   443005939
442787099   442811824   442836490   442861233   442885521   442909867   442934196   442958385   442982229   443005947
442787107   442811832   442836508   442861241   442885539   442909875   442934204   442958393   442982237   443005954
442787115   442811840   442836516   442861258   442885554   442909883   442934212   442958401   442982245   443005962
442787123   442811857   442836524   442861266   442885562   442909909   442934220   442958419   442982252   443005970
442787131   442811865   442836532   442861274   442885570   442909917   442934238   442958427   442982260   443005988
442787149   442811873   442836540   442861282   442885588   442909925   442934246   442958435   442982278   443005996
442787156   442811881   442836557   442861290   442885604   442909933   442934253   442958443   442982286   443006002
442787164   442811899   442836565   442861308   442885612   442909941   442934261   442958450   442982294   443006010
442787172   442811907   442836573   442861316   442885620   442909958   442934279   442958468   442982302   443006028
442787180   442811915   442836581   442861324   442885638   442909966   442934287   442958476   442982310   443006036
442787198   442811931   442836599   442861332   442885653   442909974   442934295   442958484   442982328   443006044
442787206   442811949   442836607   442861340   442885661   442909982   442934303   442958492   442982336   443006051
442787214   442811956   442836615   442861357   442885679   442909990   442934311   442958500   442982344   443006069
442787222   442811964   442836623   442861365   442885687   442910006   442934329   442958518   442982351   443006077
442787230   442811972   442836631   442861373   442885695   442910014   442934337   442958526   442982369   443006085
442787248   442811980   442836649   442861381   442885703   442910022   442934345   442958534   442982377   443006093
442787263   442811998   442836656   442861399   442885711   442910030   442934352   442958542   442982385   443006101


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424118636   424465912   424752442   425002789   437140445   442655403   442686556   442712154   442737466   442762407
424123073   424466142   424752608   425002987   437153828   442655486   442686564   442712162   442737474   442762415
424124691   424466274   424752699   425003001   437169154   442655528   442686572   442712170   442737482   442762423
424125151   424466654   424752756   425003027   437183189   442655536   442686580   442712188   442737490   442762431
424127520   424466845   424752863   425003175   437184864   442655601   442686598   442712196   442737508   442762449
424128627   424466878   424752905   425003357   437187396   442655643   442686606   442712204   442737516   442762456
424128668   424466977   424753010   425003514   440878551   442655650   442686614   442712220   442737524   442762464
424131837   424467025   424753119   425003761   440879419   442655668   442686622   442712238   442737532   442762472
424132132   424467033   424753242   425003977   440909273   442655700   442686630   442712246   442737540   442762480
424132728   424467363   424753267   425003993   440910123   442655759   442686648   442712253   442737557   442762498
424134336   424467454   424753416   425004025   440930287   442655767   442686655   442712261   442737565   442762506
424134401   424467900   424753531   425004108   440945475   442655783   442686671   442712279   442737573   442762514
424134583   424467991   424753747   425004173   440972750   442655809   442686697   442712287   442737581   442762522
424134765   424468197   424754059   425004223   441017852   442655858   442686705   442712295   442737599   442762530
424134864   424468239   424754224   425004231   441042645   442655890   442686713   442712303   442737607   442762548
424134906   424468379   424754299   425004314   441045648   442655957   442686721   442712311   442737615   442762555
424135044   424468643   424754380   425004348   441061827   442655981   442686739   442712337   442737623   442762563
424135192   424468858   424754455   425004355   441062395   442656039   442686747   442712345   442737631   442762571
424135424   424468924   424754463   425004488   441069432   442656047   442686754   442712352   442737649   442762589
424135531   424469013   424754471   425004512   441089877   442656088   442686788   442712360   442737656   442762597
424135614   424469047   424754554   425004561   441092004   442656096   442686796   442712378   442737664   442762613
424135747   424469310   424754687   425004850   441094513   442656153   442686804   442712386   442737680   442762621
424136018   424469328   424754851   425004991   441098878   442656187   442686812   442712394   442737698   442762639
424136216   424469476   424755056   425005170   441110764   442656203   442686820   442712402   442737706   442762647
424136232   424469609   424755155   425005188   441118239   442656245   442686838   442712410   442737714   442762654
424136455   424469633   424755395   425005204   441128907   442656260   442686846   442712428   442737722   442762662
424136703   424469799   424755577   425005378   441132370   442656278   442686853   442712436   442737730   442762670
424136844   424469807   424755601   425005493   441135340   442656344   442686861   442712444   442737748   442762688
424137123   424469955   424756088   425005501   441135415   442656435   442686879   442712469   442737755   442762696
424137289   424470128   424756211   425005519   441138310   442656443   442686887   442712477   442737763   442762704
424137446   424470151   424756245   425005550   441147642   442656450   442686895   442712493   442737771   442762712
424137644   424470219   424756450   425005741   441157914   442656492   442686903   442712501   442737789   442762720
424137743   424470235   424756716   425006087   441160991   442656518   442686911   442712519   442737797   442762738
424137834   424470474   424756849   425006749   441163516   442656526   442686937   442712527   442737805   442762746
424137982   424470482   424756880   425006798   441171410   442656534   442686945   442712535   442737813   442762753
424138246   424470490   424756971   425006947   441172251   442656542   442686952   442712543   442737821   442762761
424138337   424470540   424756997   425006954   441172533   442656567   442686960   442712550   442737839   442762779
424138378   424470607   424757193   425007176   441180700   442656575   442686978   442712568   442737847   442762787
424138451   424470805   424757417   425007192   441187812   442656583   442686986   442712576   442737854   442762795
424138568   424470979   424757425   425007226   441198249   442656633   442686994   442712584   442737862   442762803
424138899   424471001   424757482   425007317   441200987   442656641   442687000   442712592   442737870   442762811
424138907   424471241   424757581   425007333   441204666   442656690   442687018   442712600   442737888   442762829
424139509   424471399   424757904   425007341   441207859   442656724   442687034   442712618   442737896   442762837
424139814   424471407   424757979   425007374   441211190   442656872   442687042   442712626   442737904   442762845
424140010   424471415   424757995   425007481   441216256   442656906   442687059   442712634   442737912   442762852
424140143   424471514   424758100   425007614   441223856   442656914   442687067   442712642   442737920   442762860
424140168   424471738   424758183   425007952   441225521   442656930   442687075   442712659   442737946   442762878
424140176   424471795   424758191   425007986   441232816   442656948   442687083   442712667   442737953   442762886
424140200   424471902   424758316   425008000   441233327   442656955   442687091   442712675   442737961   442762894
424140275   424472033   424758464   425008059   441234812   442657037   442687109   442712683   442737979   442762902
424140317   424472041   424758696   425008216   441237310   442657045   442687117   442712691   442737987   442762910
424140408   424472058   424758720   425008422   441243789   442657078   442687125   442712709   442737995   442762928
424140424   424472140   424758811   425008463   441245214   442657128   442687133   442712717   442738001   442762936
424140515   424472223   424758993   425008497   441255478   442657136   442687141   442712725   442738019   442762944
424140564   424472330   424759058   425008687   441256658   442657144   442687158   442712733   442738027   442762951
424140853   424472348   424759090   425008711   441261955   442657151   442687166   442712741   442738035   442762969
424140929   424472728   424759322   425008729   441265345   442657177   442687174   442712758   442738043   442762985
424141018   424472785   424759447   425008786   441268919   442657193   442687182   442712766   442738050   442762993
424141034   424473130   424759520   425008802   441274214   442657292   442687208   442712774   442738068   442763009
424141190   424473239   424759538   425008836   441276482   442657300   442687216   442712782   442738076   442763017
424141265   424473429   424759579   425008919   441286150   442657318   442687224   442712790   442738092   442763025
424141489   424473684   424759652   425009065   441286234   442657326   442687240   442712808   442738118   442763033
424141737   424473999   424759660   425009131   441289055   442657367   442687257   442712816   442738134   442763041
424141810   424474021   424759819   425009297   441291176   442657375   442687265   442712824   442738142   442763058
424141976   424474138   424759835   425009396   441291259   442657433   442687273   442712832   442738159   442763066
424142321   424474278   424759942   425009438   441295912   442657441   442687281   442712840   442738167   442763074
424142792   424474310   424759983   425009495   441295979   442657466   442687299   442712857   442738175   442763082

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442787271   442812004   442836664   442861407   442885729   442910048   442934360   442958559   442982393   443006119
442787289   442812012   442836672   442861415   442885737   442910055   442934378   442958567   442982401   443006127
442787297   442812020   442836680   442861423   442885745   442910063   442934386   442958575   442982419   443006135
442787305   442812038   442836698   442861431   442885752   442910071   442934394   442958583   442982427   443006143
442787313   442812046   442836706   442861449   442885760   442910089   442934402   442958591   442982435   443006150
442787321   442812053   442836714   442861456   442885778   442910097   442934410   442958609   442982443   443006168
442787339   442812061   442836722   442861464   442885794   442910105   442934428   442958617   442982450   443006176
442787347   442812079   442836730   442861472   442885802   442910113   442934436   442958625   442982468   443006184
442787354   442812087   442836748   442861480   442885810   442910121   442934444   442958633   442982476   443006192
442787362   442812095   442836755   442861506   442885828   442910139   442934469   442958641   442982484   443006200
442787370   442812103   442836763   442861514   442885836   442910147   442934477   442958658   442982492   443006218
442787388   442812111   442836771   442861522   442885844   442910154   442934485   442958666   442982500   443006226
442787396   442812129   442836789   442861548   442885851   442910162   442934493   442958674   442982518   443006234
442787404   442812137   442836797   442861555   442885869   442910170   442934501   442958682   442982526   443006242
442787412   442812145   442836805   442861563   442885877   442910188   442934519   442958690   442982534   443006259
442787420   442812160   442836813   442861571   442885885   442910196   442934527   442958708   442982542   443006267
442787446   442812178   442836821   442861589   442885893   442910204   442934535   442958716   442982559   443006275
442787453   442812186   442836839   442861597   442885901   442910212   442934543   442958724   442982567   443006283
442787461   442812194   442836847   442861605   442885919   442910220   442934550   442958732   442982575   443006291
442787479   442812202   442836854   442861613   442885927   442910238   442934568   442958740   442982583   443006309
442787487   442812210   442836862   442861621   442885935   442910253   442934576   442958757   442982591   443006317
442787495   442812228   442836870   442861639   442885943   442910261   442934584   442958765   442982609   443006325
442787503   442812236   442836896   442861647   442885950   442910279   442934592   442958773   442982617   443006333
442787511   442812244   442836904   442861654   442885968   442910287   442934600   442958781   442982625   443006341
442787529   442812251   442836912   442861662   442885976   442910295   442934618   442958799   442982633   443006358
442787537   442812269   442836920   442861670   442885984   442910303   442934626   442958807   442982641   443006366
442787545   442812277   442836938   442861688   442885992   442910311   442934634   442958815   442982658   443006374
442787552   442812285   442836946   442861696   442886008   442910329   442934642   442958823   442982666   443006382
442787560   442812293   442836961   442861704   442886016   442910337   442934659   442958831   442982674   443006390
442787578   442812301   442836979   442861712   442886024   442910345   442934667   442958849   442982682   443006408
442787586   442812319   442836987   442861720   442886032   442910352   442934675   442958856   442982690   443006416
442787594   442812335   442836995   442861738   442886040   442910360   442934683   442958864   442982708   443006424
442787602   442812343   442837001   442861746   442886057   442910378   442934691   442958872   442982716   443006432
442787610   442812350   442837019   442861753   442886065   442910386   442934717   442958880   442982724   443006440
442787628   442812368   442837027   442861761   442886073   442910394   442934725   442958898   442982740   443006457
442787636   442812376   442837035   442861779   442886081   442910402   442934733   442958906   442982757   443006465
442787644   442812384   442837050   442861787   442886099   442910410   442934741   442958914   442982765   443006473
442787651   442812392   442837068   442861795   442886107   442910428   442934758   442958922   442982773   443006481
442787669   442812400   442837076   442861803   442886115   442910436   442934766   442958930   442982781   443006499
442787677   442812418   442837084   442861811   442886123   442910444   442934774   442958948   442982799   443006507
442787685   442812426   442837100   442861829   442886131   442910451   442934790   442958955   442982807   443006515
442787693   442812434   442837126   442861837   442886149   442910469   442934808   442958963   442982815   443006523
442787701   442812442   442837134   442861845   442886156   442910477   442934816   442958971   442982823   443006531
442787719   442812459   442837142   442861852   442886164   442910485   442934824   442958989   442982831   443006549
442787727   442812467   442837159   442861860   442886172   442910493   442934832   442958997   442982849   443006556
442787735   442812475   442837167   442861878   442886180   442910501   442934840   442959003   442982856   443006564
442787743   442812483   442837175   442861886   442886198   442910519   442934857   442959011   442982864   443006572
442787750   442812491   442837183   442861894   442886206   442910527   442934865   442959029   442982880   443006580
442787768   442812509   442837191   442861902   442886214   442910535   442934881   442959037   442982898   443006598
442787776   442812517   442837209   442861910   442886222   442910543   442934899   442959045   442982906   443006606
442787784   442812525   442837217   442861928   442886230   442910550   442934907   442959052   442982914   443006614
442787792   442812533   442837225   442861936   442886248   442910568   442934915   442959060   442982922   443006622
442787800   442812541   442837233   442861944   442886255   442910576   442934923   442959078   442982930   443006630
442787818   442812558   442837241   442861951   442886263   442910584   442934931   442959086   442982948   443006648
442787826   442812566   442837258   442861969   442886271   442910592   442934949   442959102   442982955   443006655
442787834   442812574   442837266   442861977   442886289   442910600   442934956   442959110   442982963   443006663
442787842   442812582   442837274   442861985   442886297   442910618   442934964   442959128   442982971   443006671
442787859   442812590   442837282   442861993   442886305   442910626   442934972   442959136   442982989   443006689
442787867   442812608   442837290   442862009   442886313   442910634   442934980   442959144   442982997   443006697
442787875   442812616   442837308   442862017   442886321   442910642   442934998   442959151   442983003   443006705
442787883   442812624   442837316   442862025   442886339   442910659   442935003   442959169   442983029   443006713
442787909   442812632   442837324   442862033   442886347   442910667   442935011   442959177   442983037   443006721
442787917   442812640   442837332   442862041   442886354   442910675   442935029   442959185   442983045   443006739
442787925   442812657   442837340   442862058   442886362   442910683   442935037   442959193   442983052   443006747
442787933   442812665   442837357   442862066   442886370   442910691   442935045   442959201   442983060   443006754
442787941   442812673   442837365   442862074   442886388   442910717   442935052   442959219   442983078   443006762
442787958   442812681   442837373   442862082   442886396   442910725   442935060   442959227   442983086   443006770


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424142966   424474328   424759991   425009511   441296779   442657508   442687315   442712865   442738183   442763090
424143402   424474393   424760056   425009529   441301686   442657532   442687331   442712873   442738191   442763108
424143832   424474492   424760155   425009602   441310950   442657607   442687349   442712881   442738209   442763116
424144004   424474831   424760304   425009693   441319985   442657615   442687356   442712899   442738217   442763124
424144020   424475036   424760338   425009735   441320025   442657664   442687364   442712907   442738225   442763132
424144228   424475168   424760502   425009883   441326691   442657722   442687372   442712915   442738233   442763140
424144384   424475382   424760650   425009909   441327913   442657755   442687380   442712923   442738241   442763157
424144509   424475606   424761161   425009917   441328390   442657813   442687398   442712931   442738258   442763165
424144525   424475663   424761435   425010030   441336369   442657839   442687414   442712949   442738266   442763173
424144590   424475770   424761591   425010147   441338761   442657854   442687422   442712956   442738274   442763181
424145217   424475804   424761807   425010196   441344777   442657870   442687430   442712964   442738282   442763199
424145332   424475887   424761922   425010212   441355237   442657912   442687448   442712972   442738316   442763207
424145357   424475911   424761930   425010253   441365582   442657938   442687455   442712980   442738324   442763215
424145514   424475945   424761997   425010287   441370384   442657953   442687463   442712998   442738332   442763223
424145829   424476059   424762094   425010394   441378619   442657961   442687471   442713004   442738340   442763231
424145860   424476117   424762391   425010568   441382413   442657979   442687497   442713020   442738357   442763249
424146074   424476448   424762417   425010709   441383254   442657987   442687505   442713046   442738365   442763256
424146223   424476570   424762458   425010832   441387008   442657995   442687513   442713053   442738373   442763264
424146264   424476596   424762474   425010972   441389970   442658001   442687521   442713061   442738381   442763272
424146306   424476638   424762854   425011087   441390614   442658019   442687539   442713079   442738399   442763280
424146579   424476869   424763126   425011210   441390853   442658035   442687547   442713087   442738407   442763298
424147171   424477008   424763134   425011236   441392529   442658043   442687554   442713095   442738415   442763306
424147262   424477032   424763290   425011293   441396009   442658050   442687562   442713103   442738423   442763314
424147353   424477149   424763589   425011509   441397221   442658076   442687570   442713111   442738431   442763322
424147528   424477297   424763977   425011533   441399623   442658084   442687588   442713129   442738449   442763330
424147536   424477495   424763993   425011657   441400884   442658100   442687596   442713137   442738464   442763348
424147551   424477677   424764017   425011806   441416351   442658126   442687604   442713152   442738472   442763355
424147734   424477842   424764108   425011897   441421070   442658159   442687612   442713160   442738480   442763363
424147908   424477982   424764231   425011988   441421351   442658175   442687620   442713178   442738498   442763371
424148047   424477990   424764330   425011996   441421898   442658183   442687638   442713186   442738506   442763389
424148179   424478097   424764355   425012143   441428968   442658209   442687646   442713194   442738514   442763397
424148195   424478170   424764397   425012200   441429370   442658217   442687653   442713202   442738522   442763405
424148229   424478196   424764421   425012242   441437555   442658233   442687661   442713210   442738530   442763421
424148468   424478345   424764603   425012267   441439684   442658282   442687679   442713228   442738555   442763439
424148641   424478444   424764686   425012390   441440203   442658290   442687687   442713236   442738563   442763447
424148682   424478592   424764900   425012531   441441268   442658308   442687695   442713244   442738571   442763454
424148716   424478642   424765030   425012770   441442563   442658324   442687703   442713251   442738589   442763462
424148724   424478741   424765121   425012812   441446317   442658357   442687711   442713269   442738605   442763470
424148849   424478790   424765410   425013109   441446374   442658365   442687729   442713277   442738613   442763488
424149169   424478816   424765451   425013133   441448073   442658399   442687737   442713285   442738621   442763496
424149417   424479095   424765477   425013190   441450053   442658407   442687745   442713293   442738639   442763504
424149441   424479178   424765667   425013216   441450624   442658415   442687752   442713301   442738647   442763512
424149607   424479533   424765758   425013414   441455078   442658431   442687760   442713319   442738654   442763520
424149813   424479970   424765956   425013471   441455276   442658480   442687778   442713327   442738662   442763538
424149839   424480333   424765964   425013539   441456415   442658506   442687786   442713335   442738670   442763546
424149847   424480796   424766004   425013570   441457207   442658522   442687794   442713343   442738688   442763561
424149854   424480853   424766046   425013661   441459070   442658548   442687802   442713350   442738696   442763579
424149938   424480879   424766145   425013695   441459559   442658589   442687810   442713368   442738704   442763587
424149995   424480937   424766186   425013810   441460854   442658605   442687828   442713376   442738712   442763595
424150225   424480960   424766483   425014156   441461357   442658613   442687836   442713384   442738720   442763603
424150407   424480986   424766541   425014248   441461720   442658662   442687844   442713392   442738738   442763611
424150530   424481034   424767077   425014263   441461944   442658670   442687851   442713400   442738746   442763629
424150563   424481042   424767366   425014271   441465200   442658688   442687869   442713418   442738753   442763637
424150738   424481133   424767390   425014370   441470556   442658696   442687877   442713426   442738761   442763645
424150761   424481398   424767416   425014420   441470655   442658704   442687893   442713434   442738779   442763652
424150969   424481455   424767473   425014446   441472651   442658746   442687901   442713459   442738787   442763660
424150993   424481505   424767549   425014628   441476488   442658753   442687919   442713467   442738795   442763678
424151132   424481588   424767572   425014685   441477536   442658761   442687927   442713475   442738811   442763686
424151637   424481729   424767663   425014701   441479342   442658803   442687935   442713491   442738829   442763694
424151702   424481851   424767721   425014768   441480282   442658829   442687943   442713509   442738837   442763702
424151751   424481927   424767770   425014859   441483351   442658852   442687950   442713517   442738845   442763728
424151975   424482271   424767861   425015013   441495157   442658878   442687968   442713525   442738852   442763736
424152114   424482404   424767986   425015062   441495637   442658894   442687976   442713533   442738860   442763744
424152296   424482529   424767994   425015161   441495934   442658902   442687984   442713541   442738878   442763751
424152346   424482552   424768000   425015328   441496866   442658928   442687992   442713558   442738886   442763769
424152403   424482578   424768026   425015401   441501053   442658936   442688008   442713566   442738894   442763777
424152684   424482636   424768349   425015450   441501574   442658944   442688016   442713574   442738902   442763785

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442787966   442812707   442837381   442862090   442886404   442910733   442935078   442959235   442983094   443006788
442787974   442812715   442837399   442862108   442886412   442910741   442935086   442959243   442983102   443006796
442787982   442812723   442837407   442862116   442886420   442910758   442935094   442959250   442983110   443006804
442787990   442812731   442837415   442862124   442886438   442910766   442935102   442959268   442983128   443006812
442788006   442812749   442837431   442862132   442886446   442910774   442935110   442959276   442983136   443006820
442788022   442812756   442837449   442862140   442886461   442910782   442935128   442959284   442983144   443006838
442788030   442812764   442837456   442862157   442886479   442910790   442935136   442959292   442983151   443006846
442788055   442812772   442837464   442862165   442886487   442910808   442935144   442959300   442983169   443006853
442788063   442812780   442837472   442862173   442886495   442910816   442935151   442959318   442983177   443006861
442788071   442812798   442837480   442862181   442886503   442910824   442935169   442959326   442983185   443006879
442788089   442812814   442837498   442862199   442886511   442910832   442935177   442959334   442983193   443006887
442788097   442812822   442837506   442862207   442886529   442910840   442935185   442959342   442983201   443006895
442788105   442812830   442837514   442862215   442886537   442910857   442935193   442959359   442983219   443006903
442788113   442812848   442837522   442862223   442886545   442910865   442935201   442959367   442983227   443006911
442788121   442812855   442837548   442862231   442886552   442910873   442935219   442959375   442983235   443006929
442788139   442812863   442837555   442862249   442886560   442910881   442935227   442959383   442983243   443006937
442788147   442812871   442837563   442862256   442886578   442910899   442935235   442959391   442983250   443006945
442788154   442812889   442837571   442862264   442886586   442910907   442935243   442959409   442983268   443006952
442788170   442812897   442837589   442862272   442886594   442910915   442935250   442959417   442983276   443006960
442788188   442812905   442837597   442862280   442886602   442910923   442935268   442959425   442983284   443006978
442788196   442812913   442837605   442862298   442886610   442910931   442935276   442959433   442983292   443006986
442788204   442812939   442837613   442862306   442886628   442910949   442935284   442959441   442983300   443006994
442788212   442812947   442837621   442862314   442886636   442910956   442935292   442959458   442983318   443007000
442788238   442812954   442837639   442862322   442886644   442910964   442935300   442959466   442983326   443007018
442788246   442812962   442837647   442862330   442886651   442910972   442935318   442959474   442983334   443007026
442788253   442812970   442837654   442862348   442886669   442910980   442935326   442959482   442983342   443007034
442788261   442812988   442837662   442862355   442886677   442910998   442935334   442959490   442983359   443007042
442788279   442812996   442837670   442862363   442886685   442911012   442935342   442959508   442983367   443007059
442788287   442813002   442837688   442862371   442886693   442911020   442935359   442959516   442983375   443007067
442788295   442813010   442837696   442862389   442886701   442911038   442935367   442959524   442983383   443007075
442788303   442813028   442837704   442862397   442886719   442911046   442935375   442959532   442983391   443007083
442788311   442813036   442837712   442862405   442886727   442911053   442935383   442959540   442983409   443007091
442788329   442813044   442837738   442862413   442886735   442911061   442935391   442959557   442983417   443007109
442788337   442813051   442837746   442862421   442886743   442911079   442935409   442959565   442983425   443007117
442788345   442813077   442837753   442862439   442886750   442911095   442935417   442959573   442983433   443007125
442788352   442813085   442837761   442862447   442886768   442911103   442935425   442959581   442983441   443007133
442788360   442813093   442837779   442862454   442886776   442911111   442935433   442959599   442983458   443007141
442788378   442813101   442837787   442862462   442886784   442911129   442935441   442959607   442983466   443007158
442788386   442813119   442837795   442862470   442886792   442911137   442935458   442959615   442983474   443007166
442788394   442813135   442837803   442862488   442886800   442911145   442935466   442959623   442983482   443007174
442788402   442813143   442837811   442862496   442886818   442911152   442935474   442959649   442983490   443007182
442788410   442813150   442837829   442862504   442886826   442911160   442935482   442959656   442983508   443007190
442788428   442813168   442837837   442862512   442886834   442911178   442935490   442959664   442983516   443007208
442788436   442813176   442837845   442862520   442886842   442911186   442935508   442959672   442983524   443007216
442788444   442813184   442837852   442862538   442886859   442911194   442935516   442959680   442983532   443007224
442788469   442813192   442837860   442862546   442886867   442911202   442935524   442959698   442983540   443007232
442788477   442813200   442837878   442862553   442886875   442911210   442935532   442959706   442983557   443007240
442788485   442813218   442837886   442862561   442886883   442911228   442935540   442959714   442983565   443007257
442788493   442813226   442837902   442862579   442886909   442911236   442935557   442959722   442983573   443007265
442788501   442813234   442837910   442862587   442886917   442911244   442935565   442959730   442983581   443007273
442788519   442813259   442837928   442862595   442886925   442911251   442935573   442959748   442983599   443007281
442788527   442813267   442837936   442862603   442886933   442911269   442935581   442959755   442983607   443007299
442788535   442813283   442837944   442862611   442886941   442911277   442935599   442959763   442983615   443007307
442788543   442813291   442837951   442862629   442886958   442911285   442935607   442959771   442983623   443007315
442788550   442813309   442837969   442862637   442886966   442911293   442935615   442959789   442983631   443007323
442788568   442813317   442837993   442862645   442886974   442911301   442935623   442959797   442983649   443007331
442788576   442813325   442838009   442862652   442886982   442911319   442935631   442959805   442983656   443007349
442788584   442813333   442838017   442862660   442886990   442911327   442935649   442959813   442983664   443007356
442788592   442813341   442838025   442862678   442887006   442911335   442935656   442959821   442983672   443007364
442788600   442813358   442838033   442862686   442887014   442911343   442935664   442959839   442983680   443007372
442788618   442813366   442838041   442862694   442887022   442911350   442935672   442959847   442983698   443007380
442788626   442813374   442838058   442862702   442887048   442911368   442935680   442959854   442983706   443007398
442788634   442813382   442838066   442862710   442887055   442911376   442935698   442959862   442983714   443007406
442788642   442813390   442838074   442862728   442887063   442911384   442935706   442959888   442983722   443007414
442788659   442813408   442838082   442862736   442887071   442911392   442935722   442959896   442983730   443007422
442788667   442813416   442838090   442862744   442887089   442911400   442935730   442959904   442983748   443007430
442788675   442813424   442838108   442862751   442887097   442911418   442935748   442959912   442983755   443007448


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424152726   424482669   424768422   425015518   441501749   442658951   442688040   442713582   442738928   442763793
424152809   424483097   424768562   425015534   441502002   442658969   442688057   442713590   442738936   442763801
424152858   424483105   424768596   425015641   441502531   442658985   442688065   442713624   442738944   442763819
424152874   424483253   424768653   425015807   441508314   442659017   442688073   442713640   442738951   442763827
424153245   424483451   424768729   425015831   441508942   442659025   442688081   442713657   442738969   442763835
424153252   424483535   424768786   425015856   441512340   442659074   442688099   442713665   442738977   442763843
424153351   424483717   424768844   425016052   441518883   442659082   442688115   442713673   442738985   442763850
424153674   424483881   424768869   425016235   441519519   442659090   442688123   442713681   442738993   442763868
424153799   424484095   424768919   425016839   441520509   442659108   442688131   442713699   442739009   442763876
424154060   424484186   424769065   425016904   441522125   442659132   442688149   442713707   442739017   442763884
424154342   424484210   424769248   425016938   441523065   442659140   442688156   442713715   442739025   442763892
424154466   424484285   424769388   425016953   441524261   442659157   442688164   442713723   442739033   442763900
424154565   424484475   424769396   425017126   441529930   442659165   442688172   442713731   442739041   442763918
424154813   424484574   424769404   425017175   441530854   442659199   442688180   442713749   442739058   442763926
424154912   424484699   424769479   425017225   441530979   442659207   442688198   442713756   442739066   442763934
424155380   424484772   424769537   425017274   441531860   442659223   442688214   442713764   442739074   442763942
424155653   424485035   424769842   425017415   441532470   442659231   442688230   442713772   442739082   442763959
424155737   424485068   424769859   425017662   441533122   442659249   442688248   442713780   442739090   442763967
424155885   424485100   424769875   425017738   441533833   442659280   442688255   442713798   442739108   442763975
424156131   424485225   424769925   425017803   441540549   442659298   442688263   442713806   442739116   442763983
424156198   424485324   424769933   425017860   441540861   442659306   442688271   442713822   442739124   442763991
424156404   424485464   424770048   425017944   441542859   442659314   442688289   442713830   442739132   442764007
424156578   424485548   424770204   425018041   441563715   442659322   442688297   442713848   442739140   442764015
424156610   424485571   424770303   425018082   441568581   442659330   442688305   442713855   442739157   442764023
424156644   424485704   424770402   425018124   441569902   442659355   442688313   442713863   442739165   442764031
424156701   424485712   424770436   425018264   441571916   442659371   442688339   442713871   442739173   442764049
424157238   424485720   424770519   425018512   441573557   442659405   442688347   442713889   442739181   442764056
424157261   424486025   424770535   425018553   441576485   442659413   442688354   442713897   442739199   442764064
424157618   424486074   424770659   425018629   441578994   442659421   442688362   442713905   442739207   442764072
424157675   424486116   424770774   425018793   441579877   442659439   442688370   442713913   442739215   442764080
424157998   424486157   424770816   425018819   441584158   442659454   442688388   442713921   442739223   442764098
424158350   424486280   424771186   425018967   441587235   442659470   442688396   442713939   442739231   442764106
424158525   424486405   424771194   425019080   441587763   442659504   442688404   442713947   442739256   442764114
424158871   424486470   424771392   425019098   441589116   442659512   442688412   442713954   442739264   442764122
424158897   424486488   424771806   425019197   441589165   442659520   442688420   442713962   442739272   442764130
424158905   424486538   424771913   425019403   441590304   442659538   442688438   442713970   442739280   442764148
424158921   424486546   424772275   425019437   441591658   442659546   442688446   442713988   442739298   442764155
424158970   424486900   424772408   425019536   441591732   442659561   442688453   442713996   442739306   442764171
424159424   424486918   424772432   425019585   441591799   442659587   442688461   442714002   442739314   442764189
424159630   424487528   424772853   425019668   441591914   442659595   442688479   442714010   442739322   442764197
424159762   424487635   424772978   425019734   441593548   442659603   442688487   442714028   442739330   442764205
424159838   424487734   424773018   425019809   441596830   442659611   442688495   442714036   442739348   442764213
424160190   424487742   424773083   425019817   441599107   442659637   442688503   442714044   442739355   442764221
424160240   424487932   424773133   425019825   441600335   442659645   442688511   442714051   442739363   442764239
424160448   424488013   424773232   425019833   441600863   442659652   442688529   442714069   442739371   442764247
424160547   424488047   424773471   425019882   441605300   442659678   442688537   442714077   442739389   442764254
424161024   424488112   424773729   425019932   441608205   442659694   442688545   442714085   442739397   442764262
424161040   424488146   424773786   425020344   441609823   442659702   442688552   442714093   442739405   442764270
424161206   424488393   424773828   425020450   441616927   442659710   442688560   442714101   442739413   442764296
424161321   424488401   424773836   425020526   441617313   442659744   442688578   442714119   442739421   442764304
424161602   424488724   424773869   425020534   441619871   442659769   442688586   442714127   442739439   442764312
424161784   424488864   424773950   425020567   441620317   442659777   442688594   442714135   442739447   442764320
424161826   424488898   424774172   425020591   441622065   442659793   442688602   442714143   442739454   442764338
424162147   424489003   424774230   425020674   441622289   442659827   442688610   442714150   442739462   442764353
424162501   424489011   424774321   425020781   441630407   442659868   442688628   442714168   442739470   442764361
424162774   424489052   424774354   425020807   441631066   442659876   442688636   442714176   442739488   442764379
424162923   424489144   424774453   425020872   441631181   442659926   442688644   442714184   442739496   442764387
424163087   424489334   424774495   425020898   441632890   442659934   442688669   442714192   442739504   442764395
424163491   424489557   424774701   425020963   441638327   442659942   442688677   442714200   442739512   442764403
424163541   424489599   424774750   425021045   441641529   442659975   442688685   442714218   442739538   442764411
424163566   424489748   424774776   425021219   441641610   442659983   442688701   442714226   442739546   442764429
424163723   424490019   424774941   425021326   441651171   442659991   442688719   442714234   442739553   442764437
424164333   424490175   424775039   425021441   441652229   442660007   442688727   442714242   442739561   442764445
424164390   424490183   424775088   425021524   441652955   442660031   442688735   442714259   442739579   442764452
424164523   424490266   424775112   425021714   441653243   442660049   442688743   442714267   442739587   442764460
424164655   424490316   424775351   425021862   441653623   442660106   442688750   442714275   442739595   442764478
424164721   424490365   424775369   425021888   441656485   442660122   442688768   442714283   442739629   442764486

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442788683   442813432   442838116   442862769   442887105   442911426   442935763   442959920   442983763   443007455
442788691   442813440   442838124   442862777   442887113   442911434   442935771   442959938   442983771   443007463
442788709   442813457   442838132   442862793   442887121   442911442   442935789   442959946   442983789   443007471
442788717   442813465   442838140   442862801   442887139   442911459   442935797   442959953   442983797   443007489
442788725   442813473   442838157   442862819   442887147   442911467   442935805   442959961   442983805   443007497
442788733   442813481   442838165   442862827   442887154   442911475   442935813   442959979   442983813   443007505
442788741   442813499   442838181   442862835   442887162   442911483   442935821   442959987   442983821   443007513
442788758   442813507   442838199   442862843   442887170   442911491   442935839   442959995   442983839   443007521
442788766   442813515   442838207   442862850   442887188   442911509   442935847   442960001   442983847   443007539
442788774   442813523   442838215   442862868   442887196   442911517   442935854   442960019   442983854   443007547
442788782   442813531   442838223   442862876   442887204   442911533   442935862   442960027   442983862   443007554
442788790   442813556   442838231   442862884   442887212   442911541   442935870   442960043   442983888   443007562
442788808   442813572   442838249   442862892   442887220   442911558   442935888   442960050   442983896   443007570
442788816   442813580   442838256   442862900   442887238   442911566   442935946   442960068   442983904   443007588
442788824   442813598   442838264   442862918   442887246   442911574   442935953   442960076   442983912   443007596
442788832   442813606   442838272   442862926   442887253   442911582   442935961   442960084   442983920   443007604
442788840   442813614   442838280   442862934   442887261   442911590   442935979   442960092   442983938   443007612
442788857   442813622   442838298   442862942   442887279   442911608   442935987   442960100   442983946   443007620
442788865   442813630   442838306   442862959   442887287   442911616   442935995   442960118   442983953   443007638
442788873   442813648   442838314   442862967   442887295   442911624   442936001   442960126   442983961   443007646
442788881   442813655   442838322   442862975   442887303   442911632   442936019   442960134   442983979   443007653
442788899   442813663   442838330   442862983   442887311   442911640   442936027   442960142   442983987   443007661
442788907   442813671   442838348   442862991   442887329   442911657   442936035   442960159   442983995   443007679
442788915   442813689   442838355   442863007   442887337   442911665   442936043   442960167   442984001   443007687
442788931   442813705   442838363   442863015   442887345   442911673   442936050   442960175   442984019   443007695
442788949   442813713   442838371   442863023   442887352   442911681   442936068   442960191   442984027   443007703
442788956   442813721   442838389   442863031   442887360   442911699   442936076   442960209   442984035   443007711
442788964   442813739   442838397   442863049   442887378   442911707   442936084   442960217   442984043   443007729
442788972   442813747   442838405   442863056   442887386   442911715   442936092   442960225   442984050   443007737
442788980   442813754   442838413   442863072   442887394   442911723   442936100   442960233   442984068   443007745
442788998   442813762   442838421   442863080   442887402   442911731   442936118   442960241   442984076   443007752
442789004   442813770   442838439   442863098   442887410   442911749   442936126   442960258   442984084   443007760
442789012   442813796   442838447   442863106   442887428   442911756   442936134   442960266   442984092   443007778
442789020   442813804   442838454   442863114   442887436   442911764   442936142   442960274   442984100   443007786
442789038   442813812   442838462   442863122   442887444   442911772   442936159   442960282   442984118   443007794
442789046   442813838   442838470   442863130   442887469   442911780   442936167   442960290   442984126   443007802
442789053   442813846   442838488   442863148   442887477   442911798   442936175   442960308   442984134   443007810
442789087   442813853   442838496   442863155   442887485   442911806   442936183   442960316   442984142   443007828
442789095   442813861   442838504   442863163   442887493   442911814   442936191   442960324   442984159   443007836
442789103   442813879   442838512   442863171   442887501   442911822   442936209   442960332   442984167   443007844
442789111   442813887   442838520   442863189   442887519   442911830   442936217   442960340   442984175   443007851
442789129   442813895   442838538   442863197   442887527   442911848   442936225   442960357   442984183   443007877
442789137   442813903   442838546   442863205   442887535   442911855   442936233   442960365   442984191   443007885
442789145   442813929   442838553   442863213   442887543   442911863   442936241   442960373   442984209   443007893
442789152   442813937   442838579   442863221   442887550   442911871   442936258   442960381   442984217   443007901
442789160   442813945   442838587   442863239   442887568   442911897   442936266   442960399   442984225   443007919
442789178   442813952   442838595   442863247   442887576   442911905   442936274   442960407   442984233   443007927
442789186   442813960   442838603   442863254   442887584   442911913   442936282   442960415   442984241   443007935
442789194   442813978   442838611   442863262   442887592   442911921   442936290   442960423   442984258   443007943
442789202   442813986   442838629   442863270   442887600   442911939   442936308   442960431   442984266   443007950
442789210   442813994   442838637   442863304   442887618   442911947   442936316   442960449   442984274   443007968
442789228   442814000   442838645   442863312   442887626   442911954   442936324   442960456   442984282   443007976
442789236   442814018   442838652   442863320   442887634   442911962   442936332   442960464   442984290   443007984
442789244   442814026   442838660   442863338   442887642   442911988   442936340   442960472   442984308   443007992
442789251   442814034   442838678   442863346   442887659   442912002   442936357   442960480   442984316   443008008
442789269   442814042   442838686   442863353   442887667   442912010   442936365   442960498   442984324   443008016
442789277   442814059   442838694   442863361   442887675   442912028   442936373   442960506   442984332   443008024
442789285   442814067   442838702   442863379   442887683   442912036   442936381   442960514   442984340   443008032
442789293   442814075   442838710   442863387   442887691   442912044   442936399   442960522   442984357   443008040
442789301   442814083   442838728   442863395   442887709   442912051   442936407   442960530   442984365   443008057
442789319   442814091   442838736   442863403   442887717   442912069   442936415   442960548   442984373   443008065
442789327   442814109   442838744   442863411   442887725   442912077   442936423   442960555   442984381   443008073
442789335   442814117   442838751   442863429   442887733   442912085   442936431   442960563   442984399   443008081
442789343   442814133   442838769   442863437   442887741   442912093   442936449   442960571   442984407   443008099
442789350   442814141   442838777   442863445   442887758   442912101   442936456   442960589   442984415   443008107
442789368   442814158   442838785   442863452   442887766   442912119   442936464   442960597   442984423   443008115
442789376   442814166   442838793   442863460   442887774   442912127   442936472   442960605   442984431   443008123


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424164754   424490514   424775567   425022050   441658226   442660163   442688776   442714291   442739637   442764494
424164812   424490522   424775575   425022217   441660024   442660189   442688784   442714309   442739645   442764502
424165025   424490555   424775773   425022258   441661519   442660197   442688800   442714317   442739652   442764510
424165066   424490720   424775799   425022308   441662202   442660205   442688818   442714325   442739660   442764528
424165546   424490852   424775815   425022316   441662822   442660213   442688826   442714333   442739678   442764536
424165983   424490886   424775872   425022340   441665627   442660270   442688834   442714341   442739686   442764544
424166049   424491132   424775898   425022357   441665635   442660288   442688842   442714358   442739694   442764551
424166130   424491249   424776003   425022449   441666351   442660304   442688867   442714366   442739702   442764569
424166189   424491264   424776045   425022472   441668118   442660312   442688875   442714374   442739710   442764577
424166387   424491629   424776169   425022480   441668621   442660320   442688883   442714382   442739728   442764585
424166452   424491652   424776250   425022506   441669686   442660353   442688891   442714390   442739736   442764593
424166734   424491736   424776326   425022530   441669934   442660361   442688909   442714408   442739744   442764601
424167112   424491744   424776391   425022746   441671203   442660387   442688917   442714416   442739751   442764619
424167351   424491819   424776607   425022985   441672946   442660395   442688925   442714440   442739769   442764627
424167765   424491884   424776656   425023033   441675048   442660403   442688933   442714457   442739777   442764635
424167922   424492239   424776664   425023132   441683018   442660486   442688941   442714465   442739785   442764643
424168169   424492338   424777183   425023207   441683463   442660494   442688966   442714473   442739793   442764650
424168185   424492403   424777290   425023264   441684370   442660510   442688974   442714481   442739801   442764668
424168458   424492437   424777555   425023553   441684511   442660528   442688982   442714499   442739819   442764676
424168482   424492502   424777688   425023793   441685542   442660544   442688990   442714515   442739827   442764684
424168607   424492726   424777704   425023900   441688751   442660551   442689006   442714523   442739835   442764692
424168623   424493229   424777712   425023934   441690856   442660569   442689014   442714531   442739850   442764700
424168805   424493443   424777720   425024098   441694593   442660593   442689022   442714549   442739868   442764718
424169365   424493526   424777878   425024122   441701521   442660601   442689030   442714556   442739876   442764726
424169688   424493542   424777993   425024304   441703204   442660619   442689048   442714564   442739884   442764734
424169803   424493625   424778264   425024338   441703584   442660627   442689055   442714572   442739892   442764742
424170579   424493658   424778496   425024395   441707767   442660635   442689063   442714580   442739900   442764759
424170777   424493724   424778579   425024577   441711488   442660643   442689071   442714598   442739918   442764767
424170876   424493906   424778587   425024601   441712676   442660650   442689089   442714606   442739926   442764775
424171023   424494201   424778728   425024643   441713328   442660668   442689097   442714614   442739934   442764783
424171106   424494227   424778868   425024668   441715240   442660676   442689105   442714622   442739942   442764809
424171239   424494284   424778918   425024809   441715919   442660684   442689113   442714630   442739967   442764817
424171320   424494441   424778942   425024817   441717329   442660734   442689121   442714648   442739983   442764825
424171353   424494466   424778991   425024858   441723848   442660742   442689139   442714655   442739991   442764833
424171528   424494540   424779106   425024866   441726924   442660759   442689147   442714671   442740007   442764841
424171643   424494680   424779130   425024908   441729456   442660775   442689154   442714689   442740015   442764858
424171767   424494706   424779171   425024916   441731205   442660791   442689162   442714697   442740023   442764866
424171973   424494987   424779213   425024973   441731981   442660809   442689170   442714705   442740031   442764874
424172138   424495133   424779296   425025061   441733185   442660817   442689188   442714713   442740049   442764882
424172195   424495398   424779361   425025103   441733920   442660825   442689204   442714721   442740056   442764890
424172369   424495406   424779445   425025129   441734316   442660841   442689212   442714754   442740064   442764908
424172476   424495430   424779593   425025343   441736543   442660858   442689220   442714762   442740072   442764916
424172526   424495521   424779627   425025400   441736873   442660866   442689246   442714770   442740080   442764924
424172708   424495562   424779668   425025426   441737046   442660890   442689253   442714796   442740098   442764932
424172898   424495679   424779817   425025582   441738267   442660932   442689261   442714804   442740106   442764940
424173003   424496016   424779874   425025590   441739083   442660940   442689279   442714812   442740114   442764957
424173011   424496230   424779882   425025889   441739125   442660957   442689287   442714820   442740122   442764965
424173029   424496248   424780005   425026036   441742392   442660973   442689295   442714838   442740130   442764973
424173136   424496289   424780039   425026085   441742566   442660981   442689303   442714846   442740148   442764981
424173664   424496305   424780120   425026192   441742681   442660999   442689311   442714853   442740155   442764999
424173870   424496313   424780146   425026390   441744786   442661005   442689329   442714861   442740163   442765004
424173979   424496461   424780211   425026432   441744851   442661013   442689337   442714879   442740171   442765012
424174076   424496479   424780229   425026721   441745049   442661021   442689345   442714887   442740189   442765020
424174167   424496792   424780245   425026754   441745379   442661039   442689352   442714903   442740197   442765038
424174563   424496826   424780302   425027117   441746708   442661062   442689378   442714911   442740205   442765046
424174597   424496875   424780484   425027125   441749397   442661112   442689386   442714929   442740213   442765053
424174662   424497352   424780492   425027190   441750353   442661138   442689394   442714937   442740221   442765061
424174902   424497675   424780534   425027224   441750874   442661153   442689402   442714952   442740239   442765079
424175149   424497824   424780708   425027406   441752037   442661161   442689410   442714960   442740247   442765087
424175222   424497923   424780872   425027430   441756368   442661195   442689428   442714978   442740254   442765095
424175263   424498426   424780906   425027455   441757317   442661211   442689436   442714986   442740262   442765103
424175297   424498707   424780963   425027919   441759461   442661237   442689444   442714994   442740270   442765111
424175412   424498798   424781029   425027976   441760725   442661245   442689451   442715009   442740288   442765129
424175495   424498871   424781235   425028024   441762044   442661260   442689469   442715017   442740296   442765137
424175818   424499077   424781243   425028032   441765427   442661278   442689477   442715025   442740304   442765145
424175867   424499093   424781375   425028172   441765500   442661302   442689485   442715033   442740312   442765152
424175883   424499135   424781433   425028263   441766888   442661310   442689493   442715041   442740320   442765160

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442789384   442814174   442838801   442863478   442887782   442912135   442936480   442960613   442984449   443008131
442789392   442814182   442838819   442863486   442887790   442912143   442936498   442960621   442984456   443008149
442789400   442814190   442838827   442863494   442887808   442912150   442936506   442960639   442984464   443008156
442789418   442814208   442838835   442863502   442887816   442912168   442936514   442960647   442984472   443008164
442789426   442814216   442838843   442863510   442887824   442912176   442936522   442960654   442984480   443008172
442789434   442814224   442838850   442863528   442887832   442912184   442936530   442960662   442984498   443008180
442789442   442814232   442838868   442863536   442887840   442912192   442936548   442960670   442984506   443008198
442789459   442814240   442838876   442863551   442887857   442912200   442936555   442960688   442984514   443008206
442789467   442814257   442838884   442863569   442887865   442912218   442936563   442960696   442984522   443008214
442789475   442814265   442838892   442863577   442887873   442912226   442936571   442960704   442984530   443008222
442789483   442814273   442838900   442863585   442887881   442912234   442936589   442960720   442984548   443008230
442789491   442814281   442838918   442863593   442887899   442912242   442936597   442960738   442984555   443008248
442789509   442814299   442838926   442863601   442887907   442912259   442936605   442960761   442984563   443008255
442789517   442814307   442838934   442863619   442887915   442912267   442936613   442960779   442984571   443008263
442789525   442814315   442838942   442863627   442887923   442912275   442936639   442960787   442984589   443008271
442789533   442814323   442838959   442863635   442887931   442912283   442936647   442960795   442984597   443008289
442789541   442814331   442838967   442863643   442887949   442912291   442936654   442960803   442984605   443008297
442789558   442814349   442838975   442863650   442887956   442912309   442936662   442960811   442984613   443008305
442789566   442814356   442838983   442863668   442887964   442912317   442936670   442960829   442984621   443008313
442789574   442814364   442838991   442863676   442887972   442912325   442936688   442960837   442984639   443008321
442789582   442814372   442839007   442863684   442887980   442912333   442936696   442960845   442984647   443008339
442789590   442814380   442839015   442863692   442887998   442912341   442936704   442960852   442984654   443008347
442789608   442814398   442839023   442863700   442888004   442912358   442936712   442960860   442984662   443008354
442789616   442814406   442839031   442863718   442888012   442912366   442936720   442960878   442984670   443008362
442789624   442814414   442839049   442863726   442888046   442912374   442936738   442960886   442984688   443008370
442789632   442814422   442839056   442863734   442888053   442912382   442936746   442960894   442984696   443008388
442789640   442814430   442839064   442863742   442888061   442912390   442936753   442960902   442984704   443008396
442789657   442814448   442839072   442863759   442888079   442912408   442936761   442960910   442984712   443008404
442789665   442814455   442839098   442863767   442888087   442912416   442936779   442960928   442984720   443008412
442789673   442814463   442839106   442863775   442888095   442912424   442936787   442960936   442984738   443008420
442789681   442814471   442839114   442863783   442888103   442912432   442936795   442960944   442984746   443008438
442789699   442814489   442839122   442863791   442888111   442912457   442936803   442960951   442984753   443008446
442789707   442814497   442839130   442863809   442888129   442912465   442936811   442960969   442984761   443008453
442789715   442814505   442839148   442863817   442888137   442912473   442936829   442960977   442984779   443008461
442789723   442814513   442839155   442863825   442888145   442912481   442936837   442960985   442984787   443008479
442789731   442814521   442839163   442863841   442888152   442912499   442936845   442960993   442984795   443008487
442789749   442814539   442839189   442863858   442888160   442912515   442936852   442961009   442984803   443008495
442789756   442814547   442839197   442863866   442888178   442912523   442936860   442961017   442984811   443008503
442789764   442814554   442839205   442863874   442888186   442912531   442936878   442961025   442984829   443008511
442789772   442814562   442839213   442863882   442888194   442912549   442936894   442961033   442984837   443008529
442789780   442814570   442839221   442863890   442888202   442912556   442936902   442961041   442984845   443008537
442789798   442814588   442839239   442863908   442888210   442912564   442936910   442961058   442984852   443008545
442789806   442814596   442839247   442863916   442888228   442912572   442936928   442961066   442984860   443008552
442789814   442814604   442839254   442863924   442888236   442912580   442936936   442961074   442984878   443008560
442789822   442814612   442839262   442863932   442888251   442912598   442936944   442961082   442984886   443008578
442789830   442814620   442839288   442863940   442888269   442912606   442936951   442961090   442984894   443008586
442789848   442814638   442839296   442863957   442888277   442912614   442936969   442961108   442984902   443008594
442789855   442814646   442839312   442863965   442888285   442912622   442936977   442961116   442984910   443008602
442789863   442814653   442839320   442863973   442888293   442912630   442936985   442961124   442984928   443008610
442789871   442814661   442839338   442863981   442888301   442912648   442936993   442961132   442984936   443008628
442789889   442814679   442839346   442863999   442888319   442912655   442937009   442961140   442984944   443008636
442789897   442814687   442839353   442864005   442888327   442912663   442937017   442961157   442984951   443008644
442789905   442814695   442839379   442864013   442888335   442912671   442937025   442961165   442984969   443008651
442789913   442814703   442839387   442864021   442888343   442912689   442937033   442961173   442984977   443008669
442789921   442814711   442839395   442864039   442888350   442912697   442937041   442961181   442984985   443008677
442789939   442814729   442839403   442864047   442888368   442912705   442937058   442961199   442984993   443008685
442789947   442814737   442839411   442864054   442888376   442912713   442937066   442961207   442985008   443008693
442789954   442814752   442839429   442864062   442888384   442912721   442937074   442961215   442985016   443008701
442789962   442814760   442839437   442864070   442888392   442912739   442937082   442961223   442985024   443008719
442789970   442814778   442839445   442864088   442888400   442912747   442937090   442961231   442985032   443008727
442789988   442814786   442839452   442864096   442888418   442912754   442937108   442961249   442985040   443008735
442790002   442814802   442839460   442864104   442888426   442912762   442937116   442961256   442985057   443008743
442790028   442814810   442839478   442864112   442888434   442912770   442937124   442961264   442985065   443008750
442790036   442814828   442839486   442864120   442888442   442912788   442937132   442961272   442985073   443008768
442790044   442814836   442839494   442864138   442888459   442912796   442937140   442961280   442985081   443008776
442790051   442814844   442839502   442864146   442888467   442912804   442937157   442961298   442985099   443008784
442790069   442814851   442839510   442864153   442888475   442912812   442937165   442961306   442985107   443008792


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424175909   424499143   424781607   425028305   441767027   442661328   442689501   442715058   442740338   442765178
424176295   424499200   424781623   425028396   441767282   442661344   442689527   442715066   442740346   442765186
424176519   424499416   424781631   425028552   441770369   442661351   442689535   442715074   442740353   442765194
424176634   424499424   424781649   425028578   441770575   442661369   442689543   442715082   442740361   442765202
424176741   424499614   424781656   425028586   441770583   442661393   442689550   442715090   442740379   442765210
424176956   424499663   424781680   425028735   441773579   442661419   442689568   442715108   442740387   442765228
424177111   424499671   424781789   425028859   441774742   442661427   442689584   442715116   442740395   442765236
424177517   424500387   424781854   425028982   441777497   442661435   442689592   442715124   442740403   442765244
424177533   424500460   424782043   425029048   441779212   442661443   442689600   442715132   442740411   442765251
424177822   424500551   424782134   425029170   441781614   442661468   442689618   442715140   442740429   442765269
424178028   424500577   424782308   425029436   441782216   442661500   442689634   442715157   442740437   442765277
424178119   424500585   424782415   425029543   441786746   442661518   442689642   442715165   442740445   442765285
424178200   424500999   424782472   425029691   441789807   442661526   442689659   442715173   442740460   442765293
424178416   424501005   424782548   425029717   441789880   442661534   442689675   442715181   442740478   442765301
424178473   424501120   424782555   425029725   441789922   442661542   442689683   442715199   442740486   442765327
424178549   424501138   424782605   425029824   441792850   442661559   442689691   442715207   442740494   442765335
424178713   424501203   424782688   425029857   441793486   442661583   442689709   442715215   442740502   442765343
424178796   424501229   424782977   425030079   441793767   442661591   442689717   442715223   442740510   442765350
424178838   424501658   424783140   425030111   441795317   442661609   442689725   442715231   442740528   442765368
424178986   424501708   424783496   425030277   441796711   442661617   442689733   442715249   442740536   442765384
424179042   424501807   424783504   425030483   441796992   442661641   442689741   442715256   442740544   442765392
424179240   424501823   424783629   425030525   441799376   442661658   442689758   442715264   442740551   442765400
424179497   424501856   424783678   425030632   441799558   442661666   442689766   442715272   442740569   442765418
424179729   424501948   424784304   425030673   441800851   442661674   442689774   442715280   442740577   442765426
424179877   424502227   424784338   425030756   441801297   442661682   442689782   442715298   442740585   442765434
424179992   424502342   424784379   425030798   441803913   442661690   442689790   442715306   442740593   442765442
424180057   424502441   424784429   425031424   441805363   442661724   442689808   442715314   442740601   442765459
424180073   424502631   424784437   425031507   441807211   442661757   442689824   442715322   442740619   442765467
424180107   424502706   424784528   425031606   441810702   442661815   442689832   442715330   442740627   442765475
424180255   424502730   424784825   425031614   441811775   442661823   442689840   442715348   442740635   442765483
424180347   424502888   424784890   425031713   441812179   442661849   442689857   442715355   442740643   442765491
424181089   424503225   424784908   425031861   441813524   442661906   442689865   442715363   442740650   442765509
424181287   424503233   424784965   425031879   441814712   442661914   442689873   442715371   442740668   442765517
424181329   424503498   424785012   425031937   441816485   442661955   442689881   442715397   442740676   442765525
424181436   424503712   424785210   425031945   441821089   442661963   442689899   442715405   442740684   442765533
424181576   424503779   424785269   425032224   441821220   442661971   442689907   442715413   442740692   442765541
424181865   424504306   424785285   425032471   441821428   442661989   442689915   442715439   442740700   442765558
424181899   424504363   424785343   425032497   441821501   442661997   442689923   442715447   442740718   442765566
424181923   424504371   424785426   425032505   441821543   442662029   442689931   442715454   442740726   442765574
424181972   424504579   424785459   425032687   441822210   442662037   442689949   442715462   442740734   442765590
424182012   424504652   424785517   425032802   441824190   442662045   442689956   442715470   442740742   442765608
424182228   424504850   424785558   425032901   441824596   442662078   442689964   442715488   442740759   442765616
424182384   424504926   424785566   425032992   441826757   442662110   442689972   442715496   442740775   442765624
424182459   424505196   424785582   425033057   441826971   442662169   442689980   442715504   442740783   442765632
424182533   424505246   424785863   425033214   441829587   442662193   442689998   442715512   442740791   442765640
424182616   424505279   424785962   425033222   441829603   442662235   442690004   442715520   442740809   442765657
424183036   424505378   424785970   425033230   441833613   442662284   442690012   442715538   442740817   442765665
424183069   424505576   424786051   425033305   441835063   442662292   442690020   442715546   442740825   442765673
424183127   424505592   424786093   425033321   441836152   442662300   442690038   442715553   442740833   442765681
424183184   424506467   424786366   425033370   441837861   442662318   442690046   442715561   442740841   442765699
424183366   424506566   424786440   425033396   441837903   442662342   442690053   442715579   442740858   442765707
424183630   424506582   424786507   425033446   441838125   442662359   442690061   442715587   442740866   442765715
424183754   424506624   424787000   425033461   441838901   442662409   442690079   442715595   442740874   442765723
424183770   424506657   424787059   425033511   441840204   442662417   442690087   442715611   442740882   442765731
424183796   424506772   424787166   425033669   441842556   442662433   442690095   442715629   442740890   442765749
424183812   424506905   424787232   425033776   441842630   442662441   442690103   442715637   442740908   442765756
424184281   424506913   424787299   425033800   441845807   442662458   442690111   442715645   442740916   442765764
424184307   424507218   424787422   425033818   441846474   442662466   442690137   442715652   442740924   442765772
424184596   424507234   424787513   425033867   441848660   442662474   442690145   442715660   442740940   442765780
424184711   424507408   424787604   425033933   441851045   442662482   442690152   442715678   442740957   442765798
424185205   424507523   424787752   425034022   441852688   442662490   442690160   442715686   442740965   442765806
424185445   424507630   424787794   425034030   441853843   442662524   442690178   442715694   442740973   442765814
424185494   424507663   424788065   425034196   441856226   442662532   442690186   442715702   442740981   442765822
424185577   424507820   424788156   425034220   441856416   442662540   442690194   442715710   442740999   442765830
424185833   424507903   424788495   425034238   441856770   442662557   442690202   442715736   442741005   442765848
424185858   424507978   424788701   425034329   441857307   442662565   442690210   442715744   442741013   442765855
424185874   424507994   424788784   425034592   441860863   442662573   442690228   442715751   442741021   442765863

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442790077   442814869   442839528   442864161   442888483   442912838   442937173   442961314   442985115   443008800
442790085   442814877   442839536   442864179   442888491   442912846   442937181   442961322   442985123   443008818
442790093   442814885   442839544   442864187   442888509   442912853   442937199   442961330   442985131   443008826
442790101   442814893   442839551   442864195   442888517   442912861   442937207   442961348   442985149   443008834
442790119   442814901   442839569   442864203   442888525   442912879   442937215   442961355   442985156   443008842
442790127   442814919   442839577   442864211   442888533   442912887   442937223   442961363   442985164   443008867
442790135   442814927   442839585   442864229   442888541   442912895   442937231   442961371   442985172   443008875
442790143   442814935   442839593   442864237   442888558   442912911   442937249   442961389   442985180   443008883
442790150   442814943   442839601   442864245   442888566   442912929   442937256   442961397   442985198   443008891
442790168   442814950   442839619   442864252   442888574   442912937   442937264   442961405   442985206   443008909
442790176   442814968   442839627   442864260   442888582   442912945   442937272   442961413   442985214   443008917
442790184   442814976   442839635   442864278   442888590   442912952   442937280   442961421   442985222   443008925
442790192   442814984   442839643   442864286   442888608   442912960   442937298   442961439   442985230   443008933
442790200   442814992   442839650   442864294   442888616   442912978   442937306   442961447   442985248   443008941
442790218   442815007   442839668   442864302   442888624   442912986   442937314   442961454   442985255   443008958
442790226   442815015   442839676   442864310   442888632   442912994   442937322   442961462   442985263   443008966
442790234   442815023   442839684   442864328   442888640   442913000   442937330   442961470   442985271   443008974
442790242   442815031   442839692   442864336   442888657   442913018   442937348   442961488   442985289   443008982
442790267   442815049   442839700   442864344   442888665   442913026   442937355   442961496   442985297   443008990
442790283   442815056   442839718   442864351   442888673   442913034   442937363   442961504   442985305   443009006
442790291   442815064   442839726   442864369   442888681   442913042   442937371   442961512   442985313   443009014
442790309   442815072   442839734   442864377   442888699   442913059   442937389   442961520   442985321   443009022
442790317   442815080   442839742   442864385   442888707   442913067   442937397   442961538   442985339   443009030
442790325   442815098   442839759   442864393   442888715   442913075   442937405   442961546   442985347   443009048
442790333   442815106   442839767   442864401   442888723   442913083   442937413   442961553   442985354   443009055
442790341   442815114   442839775   442864419   442888731   442913091   442937421   442961561   442985362   443009063
442790358   442815122   442839783   442864427   442888749   442913109   442937439   442961579   442985370   443009071
442790366   442815130   442839791   442864435   442888756   442913117   442937447   442961587   442985388   443009089
442790374   442815148   442839809   442864443   442888764   442913125   442937454   442961595   442985396   443009097
442790382   442815155   442839817   442864450   442888772   442913133   442937462   442961603   442985404   443009105
442790408   442815163   442839825   442864468   442888780   442913141   442937470   442961611   442985412   443009113
442790416   442815171   442839833   442864476   442888798   442913158   442937488   442961629   442985420   443009121
442790424   442815189   442839841   442864484   442888806   442913166   442937496   442961637   442985438   443009139
442790432   442815197   442839858   442864492   442888814   442913174   442937504   442961645   442985446   443009147
442790440   442815205   442839866   442864500   442888822   442913182   442937512   442961652   442985453   443009154
442790457   442815213   442839874   442864518   442888830   442913190   442937520   442961660   442985461   443009162
442790465   442815221   442839890   442864526   442888848   442913208   442937538   442961678   442985479   443009170
442790473   442815239   442839908   442864534   442888855   442913216   442937546   442961686   442985487   443009188
442790481   442815247   442839916   442864542   442888863   442913224   442937553   442961694   442985495   443009196
442790499   442815254   442839924   442864559   442888871   442913232   442937561   442961702   442985503   443009204
442790515   442815262   442839932   442864567   442888897   442913240   442937579   442961710   442985511   443009212
442790523   442815270   442839940   442864575   442888905   442913257   442937587   442961728   442985529   443009220
442790531   442815288   442839957   442864583   442888913   442913265   442937595   442961736   442985537   443009238
442790549   442815296   442839965   442864591   442888921   442913273   442937603   442961744   442985545   443009246
442790556   442815304   442839973   442864609   442888939   442913281   442937611   442961751   442985552   443009253
442790564   442815312   442839981   442864617   442888947   442913299   442937629   442961769   442985560   443009261
442790572   442815320   442839999   442864625   442888954   442913307   442937637   442961777   442985578   443009279
442790580   442815338   442840005   442864633   442888962   442913315   442937645   442961785   442985586   443009287
442790598   442815353   442840013   442864641   442888970   442913323   442937652   442961793   442985594   443009295
442790606   442815361   442840021   442864658   442888988   442913331   442937660   442961801   442985602   443009303
442790614   442815379   442840039   442864666   442888996   442913349   442937678   442961819   442985610   443009311
442790622   442815387   442840047   442864674   442889002   442913356   442937686   442961827   442985628   443009329
442790630   442815395   442840054   442864682   442889010   442913364   442937694   442961835   442985636   443009337
442790648   442815403   442840062   442864690   442889028   442913372   442937702   442961843   442985644   443009345
442790655   442815411   442840070   442864708   442889036   442913380   442937710   442961850   442985651   443009352
442790663   442815429   442840088   442864724   442889044   442913398   442937728   442961868   442985669   443009360
442790671   442815437   442840096   442864732   442889051   442913406   442937736   442961876   442985677   443009378
442790689   442815445   442840104   442864740   442889069   442913414   442937744   442961884   442985685   443009386
442790697   442815452   442840112   442864757   442889077   442913422   442937751   442961892   442985693   443009394
442790705   442815460   442840120   442864765   442889085   442913430   442937769   442961900   442985701   443009402
442790713   442815478   442840138   442864773   442889093   442913448   442937777   442961918   442985719   443009410
442790721   442815486   442840146   442864781   442889101   442913455   442937785   442961934   442985727   443009428
442790739   442815494   442840153   442864799   442889119   442913463   442937793   442961942   442985735   443009436
442790747   442815502   442840161   442864807   442889127   442913471   442937801   442961959   442985743   443009444
442790754   442815510   442840179   442864815   442889135   442913489   442937819   442961967   442985750   443009451
442790762   442815528   442840187   442864823   442889143   442913497   442937827   442961975   442985768   443009469
442790770   442815536   442840195   442864831   442889150   442913505   442937835   442961983   442985776   443009477


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424185890   424508067   424788891   425034634   441863073   442662581   442690236   442715769   442741039   442765871
424186310   424508075   424788933   425034808   441865623   442662615   442690244   442715777   442741047   442765889
424186385   424508117   424789147   425034865   441866431   442662623   442690251   442715785   442741054   442765897
424186401   424508422   424789287   425034956   441868932   442662631   442690269   442715793   442741062   442765905
424186526   424508927   424789386   425035060   441869567   442662656   442690277   442715801   442741070   442765913
424186591   424508984   424789402   425035177   441873080   442662664   442690285   442715819   442741088   442765921
424186617   424509057   424789543   425035201   441873759   442662680   442690293   442715827   442741096   442765939
424186880   424509115   424789568   425035235   441875903   442662714   442690301   442715835   442741104   442765947
424186989   424509123   424789618   425035250   441877255   442662722   442690327   442715843   442741112   442765954
424186997   424509479   424789675   425035268   441878055   442662763   442690335   442715850   442741120   442765962
424187318   424509487   424789733   425035441   441878113   442662771   442690368   442715868   442741138   442765970
424187359   424509560   424789774   425035565   441881695   442662789   442690376   442715876   442741146   442765988
424187805   424509636   424789808   425035607   441883543   442662797   442690384   442715884   442741153   442765996
424187854   424509727   424789840   425035623   441883758   442662805   442690392   442715892   442741161   442766002
424187870   424510022   424790137   425035706   441885795   442662847   442690400   442715900   442741179   442766010
424187904   424510345   424790251   425035722   441887338   442662854   442690418   442715918   442741187   442766028
424187920   424510543   424790277   425035730   441887726   442662862   442690426   442715926   442741195   442766044
424187938   424510568   424790343   425035938   441891967   442662904   442690434   442715934   442741203   442766051
424187946   424510576   424790509   425036043   441892411   442662912   442690442   442715942   442741211   442766069
424188076   424510600   424790590   425036126   441892460   442662920   442690459   442715959   442741229   442766077
424188084   424510626   424790731   425036316   441895778   442662946   442690467   442715967   442741237   442766085
424188183   424510725   424790855   425036563   441900008   442662953   442690475   442715975   442741245   442766093
424188282   424510956   424791002   425036944   441900206   442662961   442690491   442715983   442741252   442766101
424188506   424511327   424791010   425036993   441901782   442662979   442690509   442716007   442741278   442766119
424188993   424511343   424791143   425037173   441904810   442662987   442690517   442716015   442741286   442766127
424189033   424511566   424791267   425037215   441905882   442663001   442690525   442716023   442741294   442766135
424189272   424511707   424791283   425037272   441905940   442663019   442690533   442716031   442741302   442766143
424189330   424512044   424791440   425037413   441906880   442663043   442690541   442716049   442741310   442766150
424189397   424512424   424791622   425037504   441913910   442663068   442690558   442716056   442741328   442766168
424189413   424512549   424791671   425037546   441914660   442663084   442690574   442716064   442741336   442766176
424189454   424512622   424791804   425037561   441914744   442663092   442690590   442716072   442741344   442766184
424189462   424512713   424791945   425037785   441918646   442663100   442690608   442716080   442741351   442766192
424189587   424512846   424792026   425037793   441921723   442663118   442690616   442716098   442741369   442766200
424189702   424512879   424792349   425037892   441927266   442663134   442690632   442716106   442741377   442766218
424189751   424513158   424792547   425038197   441932431   442663142   442690640   442716122   442741385   442766242
424189777   424513224   424792638   425038338   441934585   442663159   442690657   442716130   442741393   442766259
424190171   424513323   424792901   425038361   441934742   442663175   442690665   442716148   442741401   442766267
424190189   424513562   424793198   425038379   441934908   442663191   442690673   442716155   442741419   442766275
424190353   424513638   424793347   425038403   441938503   442663225   442690699   442716163   442741427   442766283
424190411   424513703   424793370   425038411   441939055   442663233   442690707   442716171   442741435   442766291
424190585   424513794   424793537   425038460   441942554   442663258   442690715   442716197   442741443   442766309
424190734   424513984   424793545   425038551   441942638   442663266   442690731   442716205   442741450   442766317
424190759   424514149   424794055   425038882   441945938   442663274   442690756   442716213   442741468   442766325
424191245   424514255   424794121   425038890   441948973   442663282   442690764   442716221   442741476   442766333
424191294   424514339   424794238   425039047   441950078   442663290   442690772   442716239   442741484   442766358
424191583   424514370   424794337   425039062   441950169   442663308   442690780   442716247   442741492   442766366
424191658   424514677   424794352   425039096   441952710   442663324   442690798   442716254   442741500   442766374
424191815   424514768   424794485   425039187   441952744   442663332   442690806   442716262   442741518   442766382
424191864   424515187   424794501   425039195   441953650   442663373   442690814   442716270   442741526   442766390
424192011   424515377   424794766   425039278   441956307   442663399   442690822   442716288   442741534   442766408
424192052   424515492   424794881   425039351   441959152   442663407   442690830   442716296   442741542   442766416
424192078   424515658   424794931   425039492   441961661   442663415   442690863   442716304   442741559   442766424
424192151   424515716   424795078   425039690   441964517   442663423   442690871   442716312   442741567   442766432
424192193   424516086   424795128   425039724   441965126   442663456   442690889   442716320   442741575   442766440
424192904   424516102   424795250   425039815   441965597   442663472   442690897   442716338   442741591   442766457
424193076   424516136   424795383   425039955   441966785   442663506   442690905   442716346   442741609   442766465
424193084   424516227   424795649   425040037   441967668   442663514   442690921   442716353   442741617   442766473
424193142   424516300   424795672   425040144   441971033   442663522   442690939   442716361   442741625   442766481
424193191   424516409   424795714   425040227   441972361   442663530   442690947   442716379   442741633   442766499
424193423   424516433   424795888   425040268   441972890   442663555   442690954   442716387   442741641   442766507
424193464   424516607   424795961   425040359   441974854   442663563   442690962   442716395   442741658   442766515
424193621   424516615   424796043   425040425   441977949   442663597   442690970   442716403   442741666   442766523
424193779   424516714   424796118   425040722   441979887   442663605   442690988   442716411   442741674   442766531
424193837   424516730   424796407   425040763   441983855   442663613   442690996   442716429   442741682   442766549
424193902   424516805   424796449   425040847   441987856   442663621   442691002   442716437   442741690   442766556
424194223   424517050   424796720   425040870   441988649   442663647   442691010   442716445   442741708   442766564
424194231   424517498   424796746   425040979   441990561   442663654   442691028   442716452   442741716   442766572

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442790788   442815544   442840203   442864849   442889168   442913513   442937843   442961991   442985784   443009485
442790796   442815551   442840211   442864856   442889176   442913521   442937850   442962007   442985792   443009493
442790804   442815569   442840229   442864872   442889184   442913547   442937868   442962015   442985800   443009501
442790820   442815577   442840237   442864880   442889192   442913554   442937876   442962023   442985818   443009519
442790838   442815585   442840245   442864898   442889200   442913562   442937892   442962031   442985826   443009527
442790846   442815593   442840252   442864906   442889218   442913570   442937900   442962049   442985834   443009535
442790853   442815601   442840260   442864914   442889226   442913588   442937918   442962056   442985842   443009543
442790861   442815619   442840278   442864922   442889234   442913596   442937926   442962064   442985859   443009550
442790879   442815627   442840286   442864930   442889242   442913604   442937934   442962072   442985867   443009568
442790895   442815635   442840294   442864948   442889259   442913612   442937942   442962080   442985875   443009576
442790903   442815643   442840302   442864955   442889267   442913620   442937959   442962098   442985883   443009584
442790911   442815650   442840310   442864963   442889275   442913638   442937967   442962106   442985891   443009592
442790929   442815668   442840328   442864971   442889283   442913646   442937975   442962114   442985909   443009600
442790937   442815676   442840336   442864989   442889291   442913653   442937983   442962122   442985925   443009618
442790945   442815684   442840344   442864997   442889309   442913661   442937991   442962130   442985933   443009626
442790952   442815692   442840351   442865002   442889317   442913679   442938007   442962148   442985941   443009634
442790960   442815700   442840369   442865010   442889325   442913687   442938015   442962155   442985966   443009642
442790978   442815718   442840377   442865028   442889333   442913695   442938023   442962163   442985974   443009659
442790986   442815726   442840385   442865036   442889341   442913703   442938031   442962171   442985982   443009667
442790994   442815734   442840393   442865044   442889358   442913711   442938049   442962197   442985990   443009675
442791000   442815742   442840401   442865051   442889366   442913729   442938056   442962205   442986006   443009683
442791018   442815759   442840419   442865069   442889374   442913737   442938064   442962213   442986014   443009691
442791026   442815767   442840427   442865077   442889382   442913745   442938072   442962221   442986022   443009717
442791034   442815775   442840435   442865093   442889390   442913752   442938080   442962239   442986030   443009725
442791042   442815783   442840443   442865101   442889408   442913760   442938098   442962247   442986048   443009733
442791059   442815791   442840450   442865119   442889416   442913778   442938106   442962254   442986055   443009741
442791067   442815809   442840468   442865127   442889424   442913786   442938114   442962262   442986063   443009758
442791075   442815817   442840476   442865135   442889432   442913794   442938122   442962270   442986089   443009766
442791083   442815825   442840484   442865143   442889440   442913802   442938130   442962288   442986097   443009774
442791091   442815833   442840492   442865150   442889457   442913810   442938148   442962296   442986105   443009782
442791109   442815841   442840500   442865168   442889465   442913828   442938155   442962304   442986113   443009790
442791117   442815858   442840518   442865176   442889473   442913836   442938163   442962312   442986121   443009808
442791125   442815866   442840526   442865184   442889481   442913844   442938171   442962320   442986139   443009816
442791133   442815874   442840534   442865192   442889499   442913851   442938189   442962338   442986147   443009824
442791141   442815882   442840542   442865218   442889507   442913869   442938197   442962346   442986154   443009832
442791158   442815890   442840559   442865226   442889515   442913877   442938205   442962353   442986162   443009840
442791166   442815908   442840567   442865234   442889523   442913885   442938213   442962361   442986170   443009857
442791174   442815916   442840575   442865242   442889531   442913893   442938221   442962379   442986188   443009865
442791182   442815924   442840583   442865259   442889549   442913901   442938239   442962387   442986196   443009873
442791190   442815932   442840591   442865275   442889556   442913919   442938247   442962395   442986204   443009881
442791208   442815940   442840609   442865283   442889564   442913927   442938254   442962403   442986212   443009899
442791216   442815957   442840617   442865309   442889572   442913935   442938262   442962411   442986220   443009907
442791224   442815965   442840625   442865317   442889580   442913943   442938270   442962429   442986238   443009915
442791232   442815973   442840641   442865325   442889598   442913950   442938288   442962437   442986246   443009923
442791240   442815981   442840658   442865333   442889614   442913968   442938296   442962445   442986253   443009931
442791257   442815999   442840666   442865341   442889622   442913976   442938304   442962452   442986261   443009949
442791265   442816005   442840674   442865358   442889630   442913984   442938312   442962460   442986279   443009956
442791273   442816013   442840682   442865366   442889648   442913992   442938320   442962478   442986287   443009964
442791281   442816021   442840690   442865382   442889655   442914008   442938338   442962486   442986295   443009972
442791299   442816039   442840708   442865390   442889663   442914016   442938346   442962494   442986303   443009980
442791307   442816047   442840716   442865408   442889671   442914024   442938353   442962502   442986311   443009998
442791315   442816054   442840724   442865416   442889689   442914032   442938361   442962510   442986329   443010004
442791323   442816062   442840732   442865424   442889697   442914040   442938379   442962528   442986337   443010012
442791331   442816070   442840740   442865432   442889705   442914057   442938387   442962536   442986345   443010020
442791349   442816088   442840757   442865440   442889713   442914065   442938395   442962544   442986352   443010038
442791356   442816096   442840765   442865457   442889721   442914073   442938403   442962551   442986360   443010046
442791364   442816104   442840773   442865465   442889739   442914099   442938411   442962569   442986378   443010053
442791372   442816112   442840781   442865473   442889747   442914107   442938429   442962577   442986386   443010061
442791380   442816120   442840799   442865481   442889754   442914123   442938437   442962585   442986394   443010079
442791398   442816138   442840807   442865499   442889762   442914131   442938445   442962593   442986402   443010087
442791406   442816146   442840815   442865507   442889770   442914149   442938452   442962601   442986410   443010095
442791414   442816153   442840823   442865515   442889788   442914156   442938460   442962619   442986428   443010103
442791422   442816161   442840831   442865523   442889796   442914164   442938478   442962627   442986436   443010111
442791430   442816179   442840849   442865531   442889804   442914172   442938486   442962635   442986444   443010129
442791448   442816195   442840856   442865549   442889812   442914198   442938494   442962643   442986451   443010137
442791455   442816203   442840864   442865556   442889820   442914206   442938502   442962650   442986469   443010145
442791463   442816211   442840880   442865564   442889838   442914214   442938510   442962668   442986477   443010152


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424194389   424517522   424796753   425041100   441991155   442663662   442691044   442716460   442741724   442766580
424194413   424517563   424796795   425041167   441992112   442663670   442691051   442716478   442741740   442766598
424194447   424517571   424797017   425041175   441994738   442663688   442691069   442716486   442741757   442766606
424194595   424517647   424797165   425041316   441994860   442663696   442691077   442716494   442741765   442766622
424194629   424517746   424797256   425041357   441995602   442663704   442691085   442716502   442741773   442766630
424194637   424517886   424797496   425041589   441995719   442663712   442691093   442716510   442741781   442766648
424194645   424517928   424797504   425041670   441997228   442663738   442691101   442716528   442741799   442766655
424194728   424517944   424797629   425041803   442000378   442663746   442691119   442716536   442741807   442766663
424195063   424518140   424797652   425041829   442000691   442663753   442691127   442716544   442741815   442766671
424195287   424518223   424797686   425041852   442000717   442663761   442691143   442716551   442741823   442766689
424195303   424518314   424797876   425041910   442001228   442663779   442691150   442716569   442741831   442766697
424195311   424518421   424798304   425041969   442005401   442663787   442691176   442716577   442741849   442766705
424195352   424518504   424798338   425042041   442005625   442663795   442691184   442716585   442741856   442766713
424195378   424518678   424798437   425042116   442006458   442663803   442691192   442716593   442741864   442766721
424195394   424518710   424798494   425042272   442006573   442663829   442691218   442716601   442741872   442766739
424195576   424519189   424798601   425042298   442009668   442663837   442691226   442716619   442741880   442766747
424195592   424519296   424798650   425042306   442011557   442663860   442691234   442716627   442741898   442766754
424195725   424519411   424798676   425042421   442013033   442663878   442691242   442716635   442741906   442766762
424195840   424519486   424798742   425042462   442013371   442663886   442691259   442716643   442741914   442766770
424195873   424519593   424798759   425042488   442013421   442663894   442691267   442716668   442741930   442766788
424196293   424519825   424798817   425042504   442014619   442663902   442691275   442716676   442741948   442766796
424196640   424519940   424798858   425042595   442016374   442663910   442691283   442716684   442741955   442766804
424196970   424520559   424799237   425042652   442022315   442663928   442691291   442716692   442741963   442766812
424197036   424520625   424799443   425042769   442025177   442663936   442691309   442716700   442741971   442766820
424197218   424520815   424799526   425043015   442025193   442663944   442691317   442716718   442741989   442766838
424197929   424520989   424799575   425043049   442025888   442663951   442691325   442716726   442741997   442766853
424197994   424521011   424799666   425043106   442026738   442663977   442691333   442716734   442742003   442766861
424198026   424521623   424799690   425043163   442026746   442664009   442691341   442716742   442742011   442766879
424198034   424521938   424799997   425043312   442027199   442664025   442691358   442716759   442742029   442766887
424198141   424522035   424800035   425043437   442028981   442664033   442691366   442716767   442742037   442766903
424198307   424522084   424800134   425043544   442029443   442664041   442691374   442716775   442742045   442766911
424198679   424522126   424800258   425043627   442030417   442664058   442691382   442716783   442742052   442766929
424198703   424522498   424800290   425043668   442033460   442664066   442691390   442716791   442742060   442766937
424198711   424522530   424800308   425043726   442034245   442664082   442691416   442716809   442742078   442766945
424198935   424522548   424801322   425043932   442034344   442664090   442691424   442716817   442742086   442766952
424199107   424522654   424801405   425044021   442034583   442664108   442691432   442716825   442742094   442766960
424199214   424522944   424801439   425044054   442034955   442664116   442691440   442716833   442742102   442766978
424199305   424522993   424801462   425044070   442037875   442664124   442691457   442716841   442742110   442766986
424199354   424523272   424801546   425044088   442041232   442664132   442691465   442716858   442742128   442766994
424199420   424523298   424801553   425044195   442044574   442664140   442691473   442716866   442742136   442767000
424199503   424523322   424801603   425044427   442044673   442664157   442691481   442716874   442742144   442767018
424199511   424523595   424801751   425044476   442045043   442664165   442691507   442716890   442742151   442767026
424199834   424523629   424801819   425044534   442046538   442664173   442691515   442716908   442742177   442767034
424200186   424523686   424802148   425044708   442048153   442664207   442691523   442716916   442742185   442767042
424200608   424524031   424802411   425044724   442052015   442664223   442691531   442716924   442742193   442767059
424200707   424524072   424802429   425044823   442054599   442664231   442691549   442716932   442742201   442767067
424200731   424524205   424802916   425044922   442056289   442664256   442691556   442716940   442742219   442767075
424200848   424524387   424802957   425044963   442056669   442664264   442691564   442716957   442742227   442767083
424201085   424524510   424802973   425045002   442057659   442664272   442691572   442716965   442742235   442767091
424201309   424524601   424803146   425045176   442060026   442664280   442691580   442716981   442742243   442767109
424201382   424524676   424803302   425045192   442061123   442664306   442691598   442716999   442742268   442767117
424201606   424524718   424803542   425045267   442062188   442664314   442691606   442717005   442742276   442767125
424201739   424524759   424803815   425045424   442067286   442664322   442691614   442717021   442742284   442767133
424202109   424524916   424803856   425045499   442067468   442664348   442691622   442717039   442742292   442767141
424202703   424524932   424803955   425045564   442067823   442664355   442691630   442717047   442742300   442767158
424202752   424525079   424804102   425045671   442072302   442664363   442691648   442717054   442742318   442767166
424202893   424525095   424804409   425045689   442073094   442664371   442691655   442717062   442742326   442767174
424202943   424525434   424804565   425045713   442076089   442664389   442691663   442717070   442742334   442767190
424203081   424525483   424805018   425045861   442078937   442664397   442691689   442717096   442742342   442767208
424203180   424525491   424805059   425045952   442080586   442664405   442691697   442717104   442742359   442767216
424203420   424525525   424805075   425046133   442080768   442664421   442691705   442717112   442742367   442767224
424203503   424525616   424805174   425046216   442080883   442664439   442691713   442717120   442742375   442767232
424203685   424525756   424805505   425046240   442082145   442664447   442691721   442717138   442742383   442767240
424203776   424525764   424805521   425046307   442082905   442664462   442691739   442717146   442742391   442767257
424203909   424525806   424805570   425046430   442085221   442664488   442691747   442717153   442742409   442767265
424204097   424525814   424805703   425046463   442085320   442664496   442691754   442717161   442742417   442767273
424204162   424525822   424805927   425046513   442085445   442664504   442691762   442717179   442742425   442767281

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442791471   442816229   442840898   442865572   442889846   442914222   442938528   442962676   442986485   443010160
442791489   442816237   442840906   442865580   442889853   442914230   442938536   442962684   442986493   443010178
442791497   442816245   442840914   442865598   442889861   442914248   442938544   442962692   442986501   443010186
442791505   442816252   442840922   442865606   442889879   442914255   442938551   442962700   442986519   443010194
442791513   442816260   442840930   442865614   442889887   442914263   442938569   442962718   442986527   443010202
442791521   442816278   442840948   442865622   442889895   442914271   442938577   442962726   442986535   443010210
442791539   442816286   442840955   442865630   442889903   442914289   442938585   442962734   442986543   443010228
442791547   442816294   442840963   442865648   442889911   442914297   442938593   442962742   442986550   443010236
442791554   442816302   442840971   442865655   442889929   442914305   442938601   442962759   442986568   443010244
442791570   442816310   442840989   442865663   442889937   442914313   442938619   442962767   442986576   443010251
442791588   442816336   442840997   442865671   442889945   442914321   442938627   442962775   442986584   443010269
442791596   442816344   442841003   442865689   442889952   442914339   442938635   442962783   442986592   443010277
442791604   442816351   442841011   442865697   442889960   442914347   442938643   442962791   442986600   443010285
442791612   442816369   442841029   442865705   442889978   442914354   442938650   442962809   442986618   443010293
442791638   442816377   442841037   442865713   442889986   442914362   442938668   442962817   442986626   443010301
442791646   442816393   442841045   442865721   442889994   442914370   442938684   442962825   442986634   443010319
442791653   442816401   442841052   442865739   442890000   442914388   442938692   442962833   442986642   443010327
442791661   442816419   442841060   442865747   442890018   442914396   442938700   442962841   442986659   443010335
442791679   442816427   442841078   442865754   442890026   442914404   442938718   442962858   442986667   443010343
442791687   442816435   442841086   442865762   442890034   442914412   442938726   442962866   442986675   443010350
442791695   442816443   442841094   442865770   442890042   442914420   442938734   442962874   442986683   443010368
442791703   442816450   442841110   442865788   442890059   442914438   442938742   442962882   442986691   443010376
442791711   442816468   442841128   442865796   442890067   442914446   442938759   442962890   442986709   443010384
442791729   442816476   442841136   442865804   442890075   442914453   442938767   442962908   442986717   443010392
442791745   442816484   442841144   442865812   442890083   442914461   442938775   442962916   442986725   443010400
442791760   442816492   442841151   442865820   442890091   442914479   442938783   442962924   442986733   443010418
442791778   442816500   442841169   442865838   442890109   442914487   442938791   442962932   442986741   443010426
442791786   442816518   442841185   442865846   442890117   442914495   442938809   442962940   442986758   443010434
442791794   442816526   442841193   442865853   442890125   442914503   442938817   442962957   442986766   443010442
442791802   442816534   442841201   442865861   442890133   442914511   442938841   442962965   442986774   443010459
442791810   442816559   442841219   442865879   442890141   442914529   442938858   442962973   442986782   443010467
442791828   442816567   442841227   442865887   442890158   442914537   442938866   442962981   442986790   443010475
442791836   442816575   442841235   442865895   442890166   442914545   442938874   442962999   442986808   443010483
442791844   442816583   442841243   442865903   442890174   442914552   442938882   442963005   442986816   443010491
442791851   442816617   442841250   442865911   442890182   442914560   442938890   442963013   442986824   443010509
442791869   442816625   442841268   442865929   442890190   442914578   442938908   442963021   442986832   443010517
442791877   442816633   442841276   442865937   442890208   442914594   442938916   442963039   442986840   443010525
442791885   442816641   442841284   442865945   442890224   442914602   442938924   442963047   442986857   443010533
442791893   442816658   442841292   442865952   442890232   442914610   442938932   442963054   442986865   443010541
442791901   442816666   442841300   442865960   442890240   442914628   442938940   442963062   442986873   443010558
442791919   442816674   442841318   442865978   442890257   442914636   442938957   442963070   442986881   443010566
442791927   442816682   442841326   442865986   442890265   442914644   442938965   442963088   442986899   443010574
442791935   442816690   442841334   442865994   442890273   442914651   442938973   442963096   442986907   443010582
442791943   442816708   442841359   442866000   442890281   442914669   442938981   442963104   442986915   443010590
442791950   442816716   442841367   442866018   442890299   442914677   442938999   442963112   442986923   443010608
442791968   442816724   442841375   442866026   442890307   442914685   442939005   442963120   442986931   443010616
442791976   442816732   442841391   442866034   442890315   442914693   442939013   442963138   442986949   443010624
442791984   442816740   442841409   442866042   442890323   442914701   442939021   442963146   442986956   443010632
442791992   442816757   442841417   442866059   442890331   442914719   442939039   442963153   442986964   443010640
442792008   442816765   442841425   442866067   442890349   442914727   442939047   442963161   442986972   443010657
442792016   442816773   442841433   442866075   442890356   442914735   442939054   442963179   442986980   443010665
442792024   442816781   442841441   442866083   442890364   442914743   442939062   442963187   442986998   443010673
442792032   442816799   442841458   442866091   442890372   442914750   442939070   442963195   442987004   443010681
442792040   442816807   442841466   442866109   442890380   442914768   442939088   442963203   442987012   443010699
442792065   442816815   442841474   442866117   442890398   442914776   442939096   442963211   442987020   443010707
442792073   442816823   442841490   442866125   442890406   442914784   442939104   442963229   442987038   443010715
442792081   442816849   442841508   442866133   442890422   442914792   442939112   442963237   442987046   443010723
442792099   442816864   442841516   442866158   442890430   442914800   442939120   442963245   442987053   443010731
442792107   442816872   442841524   442866166   442890448   442914818   442939138   442963252   442987061   443010749
442792123   442816880   442841532   442866174   442890455   442914826   442939153   442963260   442987079   443010756
442792131   442816898   442841540   442866182   442890463   442914834   442939161   442963278   442987087   443010764
442792149   442816906   442841557   442866190   442890489   442914842   442939179   442963286   442987095   443010772
442792156   442816914   442841565   442866208   442890497   442914859   442939195   442963294   442987103   443010780
442792164   442816922   442841573   442866216   442890505   442914867   442939203   442963302   442987111   443010798
442792172   442816930   442841581   442866224   442890513   442914875   442939211   442963310   442987129   443010806
442792180   442816948   442841599   442866232   442890521   442914891   442939229   442963328   442987137   443010814
442792198   442816955   442841607   442866240   442890539   442914909   442939237   442963336   442987145   443010822


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424204253   424525947   424806297   425046547   442085718   442664512   442691770   442717187   442742433   442767299
424204444   424526226   424806354   425046646   442086369   442664538   442691788   442717195   442742458   442767307
424204907   424526382   424806693   425046653   442087177   442664553   442691796   442717203   442742466   442767315
424204964   424526598   424806792   425047032   442088845   442664561   442691804   442717211   442742474   442767323
424204980   424526721   424806909   425047057   442088977   442664579   442691812   442717229   442742482   442767331
424205003   424526796   424806925   425047131   442090171   442664587   442691820   442717237   442742490   442767349
424205268   424526861   424806974   425047149   442090320   442664595   442691838   442717245   442742508   442767356
424205284   424526903   424807121   425047255   442092623   442664603   442691846   442717252   442742516   442767364
424205383   424527232   424807402   425047313   442094330   442664611   442691853   442717260   442742524   442767372
424205417   424527323   424807584   425047511   442095527   442664637   442691861   442717278   442742532   442767380
424205656   424527356   424807634   425047925   442099974   442664645   442691879   442717286   442742540   442767398
424205995   424527414   424807642   425047933   442102125   442664652   442691887   442717294   442742557   442767406
424206431   424527455   424807691   425048030   442103362   442664678   442691895   442717310   442742565   442767414
424206472   424527513   424807915   425048071   442103644   442664694   442691903   442717328   442742573   442767422
424206928   424527927   424808194   425048121   442104147   442664702   442691911   442717336   442742581   442767430
424206993   424528016   424808269   425048212   442104402   442664728   442691937   442717344   442742607   442767448
424207041   424528032   424808376   425048345   442104691   442664736   442691945   442717351   442742615   442767455
424207124   424528065   424808483   425048352   442107710   442664744   442691952   442717369   442742623   442767463
424207199   424528172   424808541   425048519   442109260   442664751   442691960   442717377   442742631   442767471
424207231   424528289   424808566   425048725   442114807   442664769   442691978   442717385   442742649   442767489
424207348   424528297   424808681   425048816   442116372   442664785   442691994   442717393   442742656   442767497
424207546   424528925   424808962   425048857   442118519   442664801   442692000   442717401   442742664   442767505
424207835   424528990   424809176   425048865   442121455   442664835   442692018   442717419   442742672   442767513
424207892   424529014   424809432   425048923   442123063   442664843   442692026   442717427   442742680   442767521
424207959   424529386   424809549   425049327   442123626   442664850   442692034   442717435   442742698   442767539
424208056   424529766   424809572   425049434   442124129   442664868   442692042   442717443   442742706   442767547
424208072   424529816   424809630   425049509   442128989   442664876   442692059   442717450   442742714   442767554
424208122   424529857   424809895   425049558   442129136   442664884   442692067   442717468   442742722   442767562
424208759   424530004   424810000   425049566   442132007   442664892   442692075   442717476   442742730   442767570
424208767   424530210   424810349   425049624   442134854   442664900   442692083   442717484   442742748   442767596
424208866   424530228   424810398   425049798   442136230   442664926   442692091   442717492   442742755   442767604
424209062   424530236   424810521   425049814   442139580   442664934   442692109   442717500   442742763   442767612
424209294   424530400   424810612   425049855   442141156   442664959   442692117   442717518   442742771   442767620
424209385   424530434   424810653   425049863   442141636   442664967   442692125   442717526   442742789   442767638
424209591   424530590   424810844   425049921   442144127   442664983   442692133   442717534   442742797   442767646
424209815   424530608   424810976   425049996   442145272   442664991   442692141   442717542   442742805   442767653
424209823   424530640   424811248   425050044   442145363   442665006   442692166   442717559   442742821   442767661
424210029   424530731   424811297   425050093   442147245   442665022   442692174   442717567   442742839   442767679
424210417   424530962   424811412   425050176   442148391   442665048   442692182   442717583   442742847   442767687
424210466   424530970   424811446   425050234   442149696   442665055   442692190   442717591   442742854   442767695
424210615   424530996   424811867   425050242   442154142   442665063   442692208   442717609   442742862   442767703
424210664   424531010   424812006   425050481   442156923   442665089   442692224   442717617   442742870   442767711
424210805   424531143   424812428   425050564   442156949   442665113   442692232   442717633   442742888   442767729
424211498   424531184   424812501   425050663   442157160   442665121   442692240   442717641   442742896   442767737
424211514   424531358   424812626   425050747   442157210   442665147   442692257   442717658   442742904   442767745
424211670   424531366   424812683   425050804   442157343   442665154   442692273   442717666   442742912   442767752
424211720   424531408   424812691   425050929   442157392   442665162   442692281   442717674   442742920   442767760
424211860   424531440   424812881   425051034   442157558   442665188   442692299   442717682   442742946   442767778
424211951   424531598   424812899   425051042   442158200   442665196   442692315   442717690   442742953   442767786
424212017   424531697   424812907   425051315   442158226   442665220   442692323   442717708   442742961   442767794
424212702   424531754   424813152   425051331   442158663   442665238   442692349   442717716   442742979   442767802
424212793   424531762   424813319   425051364   442159414   442665246   442692356   442717724   442742987   442767810
424212959   424531804   424813376   425051455   442159620   442665253   442692364   442717732   442742995   442767828
424213288   424531887   424813855   425051497   442159638   442665261   442692372   442717740   442743001   442767836
424213528   424532174   424814184   425051539   442160149   442665279   442692380   442717757   442743019   442767844
424213841   424532216   424814291   425051588   442160685   442665287   442692398   442717765   442743027   442767851
424213866   424532851   424814366   425051802   442161121   442665295   442692406   442717773   442743035   442767869
424214112   424532869   424814515   425051844   442161311   442665311   442692414   442717781   442743043   442767877
424214195   424532919   424814770   425051901   442161329   442665329   442692422   442717799   442743050   442767885
424214203   424533107   424814796   425052123   442161733   442665378   442692430   442717815   442743068   442767893
424214369   424533156   424814929   425052172   442161758   442665386   442692448   442717823   442743076   442767901
424214450   424533354   424815090   425052198   442162046   442665394   442692455   442717831   442743084   442767919
424214542   424533370   424815108   425052347   442162244   442665402   442692463   442717849   442743092   442767927
424214609   424533487   424815140   425052420   442162731   442665436   442692471   442717856   442743100   442767935
424214732   424533537   424815256   425052560   442162756   442665444   442692489   442717872   442743118   442767950
424214864   424533586   424815363   425052677   442163176   442665451   442692497   442717880   442743126   442767968
424214898   424533792   424815520   425052693   442163259   442665485   442692513   442717898   442743159   442767976

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442792206   442816963   442841615   442866257   442890554   442914917   442939245   442963344   442987152   443010830
442792214   442816971   442841623   442866273   442890562   442914925   442939252   442963351   442987160   443010848
442792222   442816989   442841631   442866281   442890570   442914933   442939260   442963369   442987178   443010855
442792230   442816997   442841649   442866299   442890588   442914941   442939278   442963377   442987186   443010863
442792248   442817003   442841656   442866307   442890596   442914958   442939286   442963385   442987194   443010871
442792255   442817011   442841664   442866315   442890604   442914966   442939294   442963393   442987202   443010889
442792263   442817029   442841672   442866323   442890612   442914974   442939302   442963401   442987210   443010897
442792271   442817037   442841680   442866331   442890620   442914982   442939310   442963419   442987228   443010905
442792289   442817045   442841698   442866349   442890638   442914990   442939328   442963427   442987236   443010913
442792297   442817052   442841714   442866356   442890646   442915005   442939336   442963435   442987244   443010921
442792305   442817060   442841748   442866364   442890661   442915013   442939344   442963443   442987251   443010939
442792313   442817078   442841755   442866372   442890679   442915021   442939351   442963450   442987269   443010947
442792321   442817086   442841763   442866380   442890687   442915039   442939369   442963468   442987277   443010954
442792339   442817094   442841771   442866398   442890695   442915047   442939377   442963476   442987285   443010962
442792347   442817102   442841789   442866406   442890711   442915054   442939385   442963484   442987293   443010970
442792354   442817110   442841797   442866414   442890729   442915062   442939393   442963492   442987301   443010988
442792362   442817128   442841805   442866422   442890737   442915070   442939401   442963500   442987319   443010996
442792370   442817136   442841813   442866430   442890745   442915088   442939419   442963518   442987327   443011002
442792388   442817144   442841821   442866448   442890752   442915104   442939427   442963526   442987335   443011010
442792396   442817151   442841839   442866455   442890760   442915112   442939435   442963534   442987343   443011028
442792404   442817169   442841847   442866471   442890778   442915120   442939443   442963542   442987350   443011036
442792412   442817177   442841854   442866489   442890786   442915138   442939450   442963559   442987368   443011044
442792420   442817185   442841862   442866497   442890794   442915146   442939468   442963567   442987376   443011051
442792438   442817193   442841870   442866505   442890802   442915153   442939476   442963575   442987384   443011069
442792446   442817201   442841888   442866513   442890810   442915161   442939484   442963583   442987392   443011077
442792453   442817219   442841896   442866521   442890828   442915179   442939492   442963591   442987400   443011085
442792461   442817227   442841904   442866539   442890836   442915187   442939500   442963609   442987418   443011093
442792479   442817243   442841912   442866547   442890844   442915195   442939518   442963617   442987426   443011101
442792487   442817250   442841938   442866554   442890851   442915203   442939526   442963625   442987434   443011119
442792495   442817268   442841946   442866562   442890869   442915211   442939534   442963633   442987442   443011127
442792503   442817276   442841961   442866570   442890877   442915229   442939542   442963641   442987459   443011135
442792511   442817284   442841979   442866588   442890885   442915237   442939559   442963658   442987467   443011143
442792529   442817292   442841987   442866596   442890893   442915245   442939567   442963666   442987475   443011150
442792537   442817300   442841995   442866604   442890901   442915252   442939575   442963674   442987483   443011168
442792545   442817318   442842001   442866612   442890919   442915260   442939583   442963682   442987491   443011176
442792552   442817326   442842019   442866620   442890927   442915278   442939591   442963690   442987509   443011184
442792560   442817334   442842027   442866638   442890935   442915286   442939609   442963708   442987517   443011192
442792578   442817342   442842035   442866646   442890943   442915294   442939617   442963716   442987525   443011200
442792586   442817359   442842043   442866653   442890950   442915302   442939625   442963724   442987533   443011218
442792594   442817367   442842050   442866661   442890968   442915310   442939633   442963732   442987541   443011226
442792602   442817383   442842068   442866679   442890976   442915328   442939641   442963740   442987558   443011234
442792610   442817391   442842076   442866687   442890984   442915336   442939658   442963757   442987566   443011242
442792628   442817409   442842092   442866695   442890992   442915344   442939666   442963765   442987574   443011259
442792636   442817417   442842100   442866703   442891008   442915351   442939674   442963773   442987582   443011267
442792644   442817425   442842118   442866711   442891016   442915369   442939682   442963781   442987590   443011275
442792669   442817441   442842126   442866729   442891024   442915377   442939690   442963799   442987608   443011283
442792677   442817458   442842142   442866737   442891032   442915385   442939708   442963807   442987616   443011291
442792685   442817466   442842159   442866745   442891040   442915393   442939716   442963815   442987624   443011309
442792693   442817474   442842167   442866752   442891057   442915401   442939724   442963823   442987632   443011317
442792701   442817482   442842175   442866760   442891065   442915419   442939732   442963831   442987640   443011325
442792719   442817490   442842183   442866778   442891073   442915427   442939740   442963849   442987657   443011333
442792735   442817508   442842191   442866786   442891081   442915435   442939757   442963856   442987665   443011341
442792743   442817516   442842209   442866794   442891099   442915443   442939765   442963864   442987673   443011358
442792750   442817524   442842217   442866802   442891107   442915450   442939773   442963872   442987681   443011366
442792768   442817532   442842225   442866810   442891115   442915468   442939781   442963880   442987699   443011382
442792776   442817540   442842233   442866828   442891123   442915476   442939799   442963898   442987707   443011390
442792784   442817557   442842241   442866836   442891131   442915484   442939807   442963906   442987715   443011408
442792792   442817565   442842258   442866844   442891156   442915492   442939815   442963914   442987723   443011416
442792800   442817573   442842266   442866851   442891164   442915500   442939823   442963922   442987731   443011424
442792818   442817581   442842274   442866869   442891172   442915518   442939831   442963930   442987749   443011432
442792826   442817599   442842282   442866877   442891180   442915526   442939849   442963948   442987756   443011440
442792834   442817607   442842290   442866885   442891198   442915534   442939856   442963955   442987764   443011457
442792842   442817615   442842324   442866893   442891206   442915542   442939864   442963963   442987780   443011465
442792859   442817623   442842332   442866901   442891214   442915559   442939872   442963971   442987798   443011473
442792867   442817631   442842340   442866919   442891222   442915567   442939880   442963989   442987806   443011481
442792875   442817649   442842357   442866927   442891230   442915575   442939898   442963997   442987814   443011499
442792883   442817656   442842365   442866935   442891248   442915583   442939906   442964003   442987822   443011507


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424215010   424533933   424815652   425052784   442163358   442665493   442692521   442717914   442743167   442767992
424215085   424534006   424815819   425052883   442163424   442665501   442692539   442717922   442743175   442768008
424215192   424534071   424816155   425052925   442163481   442665527   442692547   442717930   442743183   442768016
424215440   424534170   424816197   425052990   442163523   442665535   442692554   442717948   442743191   442768024
424215457   424534204   424816221   425053030   442163598   442665543   442692562   442717955   442743209   442768032
424215812   424534394   424816239   425053287   442163812   442665550   442692570   442717971   442743217   442768040
424215986   424534436   424816353   425053360   442164737   442665568   442692588   442717989   442743225   442768057
424216109   424534550   424816437   425053436   442164786   442665576   442692596   442717997   442743233   442768065
424216364   424534709   424816460   425053444   442164802   442665584   442692604   442718003   442743241   442768073
424216380   424535185   424816486   425053550   442164844   442665592   442692612   442718011   442743258   442768081
424216463   424535276   424816528   425054145   442165114   442665618   442692620   442718029   442743274   442768099
424216489   424535417   424816593   425054269   442165502   442665642   442692638   442718037   442743282   442768107
424216810   424535466   424816650   425054426   442165544   442665659   442692646   442718045   442743290   442768115
424216935   424535474   424816676   425054442   442165676   442665675   442692653   442718052   442743308   442768123
424216950   424535516   424816890   425054483   442165726   442665683   442692661   442718060   442743316   442768131
424217594   424535532   424816924   425054541   442165973   442665691   442692687   442718078   442743324   442768164
424217669   424535771   424816965   425054558   442166302   442665709   442692695   442718086   442743340   442768172
424217743   424535789   424817054   425054756   442166500   442665717   442692703   442718094   442743357   442768180
424217867   424535896   424817096   425054806   442166666   442665725   442692711   442718102   442743365   442768198
424217891   424535920   424817385   425055050   442166757   442665741   442692729   442718110   442743373   442768214
424217982   424536209   424817484   425055357   442167292   442665758   442692737   442718128   442743381   442768222
424218030   424536217   424817518   425055605   442167607   442665766   442692745   442718136   442743399   442768230
424218063   424536308   424817609   425055803   442167797   442665774   442692752   442718144   442743407   442768248
424218253   424536332   424817708   425055852   442167813   442665790   442692760   442718169   442743415   442768255
424218360   424536431   424817807   425055944   442167904   442665816   442692778   442718177   442743423   442768263
424218790   424536472   424817864   425055993   442168175   442665824   442692786   442718185   442743431   442768271
424218824   424536712   424817880   425056058   442168183   442665840   442692794   442718193   442743456   442768289
424218998   424536852   424817906   425056140   442168506   442665857   442692802   442718201   442743464   442768297
424219129   424536944   424817971   425056298   442168670   442665865   442692810   442718219   442743472   442768305
424219152   424536969   424818003   425056322   442168787   442665873   442692828   442718227   442743480   442768313
424219251   424537108   424818029   425056405   442168860   442665881   442692836   442718235   442743506   442768321
424219335   424537173   424818201   425056504   442169066   442665907   442692844   442718243   442743514   442768339
424219384   424537272   424818243   425056629   442169322   442665915   442692869   442718250   442743522   442768347
424219467   424537348   424818383   425056686   442169421   442665931   442692877   442718268   442743530   442768354
424219475   424537389   424818581   425056777   442169876   442665949   442692885   442718276   442743548   442768362
424219806   424537520   424818656   425056918   442169892   442665956   442692893   442718284   442743563   442768370
424219848   424537660   424818805   425057007   442170866   442665964   442692919   442718292   442743571   442768388
424219947   424537751   424818813   425057023   442171104   442665980   442692927   442718300   442743589   442768396
424220010   424538031   424818938   425057130   442171302   442666012   442692935   442718318   442743597   442768404
424220101   424538080   424819191   425057262   442171450   442666046   442692943   442718326   442743605   442768412
424220135   424538312   424819472   425057361   442171559   442666053   442692950   442718334   442743613   442768420
424220234   424538379   424819761   425057478   442171948   442666061   442692968   442718359   442743621   442768438
424220366   424538494   424819787   425057536   442173019   442666079   442692976   442718367   442743639   442768446
424220374   424538643   424819803   425057569   442173068   442666087   442692984   442718375   442743647   442768453
424220507   424538676   424819829   425057601   442173670   442666095   442692992   442718383   442743654   442768461
424220739   424538718   424819852   425057700   442174116   442666111   442693008   442718391   442743662   442768479
424221000   424538791   424820017   425058120   442174777   442666129   442693016   442718409   442743688   442768487
424221026   424538874   424820025   425058211   442175501   442666137   442693032   442718425   442743696   442768495
424221448   424538924   424820116   425058229   442176681   442666152   442693040   442718433   442743704   442768503
424221703   424538999   424820355   425058369   442177226   442666178   442693057   442718441   442743712   442768511
424221711   424539062   424820371   425058484   442178539   442666186   442693065   442718458   442743720   442768529
424221927   424539146   424820538   425058625   442179289   442666202   442693073   442718466   442743738   442768537
424222024   424539344   424820694   425058963   442179677   442666210   442693081   442718474   442743746   442768545
424222040   424539401   424820769   425058997   442180964   442666228   442693099   442718482   442743753   442768552
424222107   424539666   424820827   425059003   442181277   442666236   442693107   442718490   442743761   442768560
424222156   424539781   424820934   425059284   442181723   442666244   442693115   442718508   442743779   442768578
424222214   424539906   424821114   425059409   442181988   442666251   442693123   442718516   442743787   442768586
424222271   424540086   424821262   425059417   442182465   442666269   442693131   442718524   442743795   442768594
424222370   424540300   424821304   425059441   442182689   442666277   442693149   442718532   442743803   442768602
424222461   424540326   424821403   425059458   442182838   442666285   442693156   442718540   442743811   442768610
424222578   424540409   424821411   425059474   442182952   442666293   442693164   442718565   442743829   442768628
424222693   424540433   424821643   425059573   442183406   442666301   442693172   442718581   442743837   442768636
424222735   424540581   424821940   425059797   442183489   442666327   442693180   442718599   442743845   442768644
424223139   424540631   424822005   425059961   442183539   442666343   442693198   442718607   442743852   442768651
424223295   424540649   424822153   425059995   442184099   442666350   442693206   442718615   442743860   442768669
424223303   424541027   424822161   425060142   442184289   442666368   442693214   442718623   442743878   442768677
424223360   424541837   424822245   425060274   442184529   442666376   442693222   442718631   442743886   442768685

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442792891   442817664   442842373   442866943   442891255   442915591   442939914   442964011   442987830   443011515
442792909   442817672   442842381   442866950   442891263   442915609   442939922   442964029   442987848   443011523
442792917   442817680   442842399   442866968   442891271   442915617   442939930   442964037   442987855   443011531
442792925   442817698   442842407   442866976   442891297   442915625   442939948   442964052   442987863   443011549
442792933   442817706   442842415   442866984   442891305   442915633   442939955   442964060   442987871   443011556
442792941   442817714   442842423   442866992   442891313   442915641   442939963   442964078   442987889   443011564
442792958   442817722   442842431   442867008   442891321   442915658   442939971   442964086   442987897   443011572
442792966   442817730   442842449   442867016   442891339   442915666   442939989   442964094   442987905   443011580
442792974   442817748   442842456   442867024   442891347   442915674   442939997   442964102   442987913   443011598
442792982   442817755   442842464   442867032   442891354   442915682   442940003   442964110   442987921   443011606
442792990   442817763   442842472   442867040   442891362   442915690   442940011   442964128   442987939   443011614
442793006   442817771   442842480   442867057   442891370   442915708   442940029   442964136   442987947   443011622
442793014   442817789   442842498   442867065   442891388   442915716   442940037   442964144   442987954   443011630
442793022   442817805   442842506   442867073   442891404   442915724   442940045   442964151   442987962   443011648
442793030   442817813   442842514   442867081   442891412   442915732   442940052   442964169   442987970   443011655
442793048   442817821   442842522   442867099   442891420   442915740   442940060   442964177   442987988   443011663
442793055   442817839   442842530   442867107   442891438   442915757   442940078   442964185   442987996   443011671
442793063   442817847   442842548   442867115   442891446   442915765   442940086   442964193   442988002   443011689
442793089   442817854   442842555   442867123   442891453   442915773   442940094   442964201   442988010   443011697
442793097   442817862   442842563   442867131   442891461   442915781   442940102   442964219   442988028   443011705
442793113   442817870   442842571   442867149   442891479   442915799   442940110   442964227   442988036   443011713
442793121   442817888   442842589   442867156   442891487   442915807   442940128   442964235   442988044   443011721
442793139   442817896   442842597   442867164   442891495   442915815   442940136   442964243   442988051   443011739
442793147   442817904   442842605   442867172   442891503   442915823   442940144   442964250   442988069   443011747
442793154   442817912   442842613   442867180   442891511   442915831   442940151   442964268   442988077   443011754
442793162   442817920   442842621   442867198   442891529   442915849   442940169   442964276   442988085   443011762
442793170   442817938   442842639   442867206   442891537   442915856   442940177   442964284   442988093   443011770
442793188   442817946   442842647   442867214   442891545   442915864   442940185   442964292   442988101   443011788
442793196   442817953   442842654   442867222   442891552   442915872   442940193   442964300   442988119   443011796
442793204   442817961   442842662   442867230   442891560   442915880   442940201   442964318   442988127   443011804
442793220   442817979   442842670   442867248   442891578   442915898   442940219   442964326   442988135   443011812
442793238   442817987   442842688   442867255   442891586   442915906   442940227   442964334   442988143   443011820
442793246   442817995   442842696   442867263   442891594   442915914   442940235   442964342   442988150   443011838
442793253   442818001   442842704   442867271   442891602   442915922   442940243   442964359   442988168   443011846
442793261   442818019   442842712   442867289   442891610   442915930   442940250   442964367   442988176   443011853
442793279   442818027   442842720   442867297   442891628   442915948   442940268   442964375   442988184   443011861
442793287   442818035   442842738   442867305   442891636   442915955   442940276   442964383   442988192   443011879
442793295   442818043   442842746   442867313   442891644   442915963   442940292   442964391   442988200   443011887
442793303   442818050   442842753   442867321   442891651   442915971   442940300   442964409   442988218   443011895
442793311   442818068   442842761   442867339   442891669   442915989   442940318   442964417   442988226   443011903
442793329   442818076   442842787   442867347   442891677   442915997   442940326   442964425   442988234   443011911
442793337   442818084   442842795   442867354   442891685   442916003   442940334   442964433   442988242   443011929
442793345   442818092   442842803   442867362   442891693   442916011   442940342   442964441   442988259   443011937
442793360   442818100   442842811   442867370   442891701   442916029   442940359   442964458   442988267   443011945
442793378   442818118   442842829   442867388   442891719   442916037   442940367   442964466   442988275   443011952
442793386   442818126   442842837   442867396   442891727   442916045   442940375   442964474   442988283   443011960
442793394   442818134   442842845   442867404   442891735   442916052   442940383   442964482   442988291   443011978
442793402   442818142   442842852   442867412   442891743   442916060   442940391   442964490   442988309   443011986
442793410   442818159   442842860   442867420   442891750   442916078   442940409   442964508   442988317   443011994
442793428   442818167   442842878   442867438   442891768   442916086   442940417   442964516   442988325   443012000
442793436   442818175   442842886   442867446   442891776   442916094   442940425   442964524   442988333   443012018
442793444   442818183   442842894   442867453   442891784   442916102   442940433   442964532   442988341   443012026
442793451   442818191   442842910   442867461   442891792   442916110   442940441   442964540   442988358   443012034
442793477   442818209   442842928   442867479   442891800   442916128   442940458   442964557   442988366   443012042
442793485   442818217   442842936   442867487   442891818   442916136   442940466   442964565   442988374   443012059
442793493   442818225   442842944   442867495   442891826   442916144   442940474   442964573   442988382   443012067
442793501   442818233   442842951   442867503   442891834   442916151   442940482   442964581   442988390   443012075
442793519   442818241   442842969   442867511   442891842   442916169   442940490   442964599   442988408   443012083
442793527   442818258   442842977   442867529   442891859   442916177   442940508   442964607   442988416   443012091
442793535   442818266   442842985   442867537   442891867   442916185   442940516   442964615   442988424   443012109
442793550   442818274   442842993   442867545   442891875   442916193   442940524   442964623   442988432   443012117
442793568   442818282   442843009   442867552   442891883   442916201   442940532   442964631   442988440   443012125
442793576   442818290   442843017   442867560   442891891   442916219   442940540   442964649   442988457   443012133
442793584   442818308   442843025   442867578   442891909   442916227   442940557   442964656   442988465   443012141
442793592   442818316   442843033   442867586   442891917   442916235   442940565   442964664   442988473   443012158
442793600   442818324   442843041   442867594   442891925   442916243   442940573   442964672   442988481   443012166
442793618   442818332   442843058   442867602   442891933   442916250   442940581   442964680   442988499   443012174


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424223477   424541845   424822336   425060340   442184784   442666384   442693248   442718649   442743894   442768693
424223618   424541944   424822468   425060407   442184909   442666392   442693255   442718656   442743902   442768701
424223824   424542058   424822575   425060464   442185021   442666400   442693263   442718664   442743910   442768719
424224061   424542199   424822625   425060696   442185435   442666418   442693271   442718672   442743928   442768735
424224186   424542454   424822740   425060738   442185732   442666426   442693297   442718680   442743936   442768743
424224467   424542611   424822765   425061140   442185781   442666434   442693305   442718698   442743944   442768768
424224707   424542652   424822781   425061371   442185872   442666442   442693313   442718706   442743951   442768784
424224814   424542736   424822823   425061637   442185898   442666459   442693321   442718714   442743969   442768792
424224830   424542892   424822849   425061843   442186995   442666491   442693339   442718722   442743977   442768800
424225357   424542959   424822856   425062080   442187423   442666509   442693347   442718730   442743985   442768818
424225431   424543296   424822989   425062114   442187696   442666517   442693354   442718748   442743993   442768834
424225456   424543304   424823144   425062122   442187886   442666525   442693362   442718755   442744009   442768842
424226132   424543403   424823185   425062205   442187928   442666533   442693370   442718763   442744017   442768859
424226249   424543577   424823227   425062247   442187951   442666541   442693388   442718771   442744025   442768867
424226447   424544245   424823276   425062551   442188710   442666558   442693396   442718789   442744033   442768875
424226520   424544484   424823300   425062635   442189239   442666566   442693404   442718797   442744041   442768883
424226629   424544591   424823540   425062692   442189627   442666574   442693412   442718805   442744058   442768891
424226744   424544658   424823631   425062700   442189866   442666582   442693438   442718813   442744066   442768909
424226850   424544773   424823664   425062742   442190252   442666590   442693453   442718821   442744074   442768917
424226959   424544914   424823730   425063013   442191557   442666624   442693461   442718839   442744082   442768925
424226991   424544955   424823797   425063187   442192092   442666632   442693479   442718847   442744090   442768941
424227353   424545085   424823953   425063435   442192357   442666657   442693487   442718854   442744108   442768958
424227668   424545150   424823987   425063500   442192688   442666665   442693495   442718862   442744116   442768966
424227833   424545200   424824126   425063559   442192860   442666681   442693503   442718870   442744124   442768974
424227874   424545325   424824142   425063617   442194056   442666707   442693511   442718888   442744132   442768982
424227957   424545366   424824159   425063757   442194270   442666715   442693529   442718896   442744140   442768990
424228195   424545440   424824167   425063799   442194460   442666731   442693537   442718904   442744157   442769006
424228237   424545598   424824282   425064151   442195350   442666749   442693545   442718912   442744165   442769014
424228831   424545671   424824431   425064441   442195368   442666772   442693552   442718946   442744173   442769022
424229003   424545721   424824704   425064474   442196739   442666798   442693560   442718953   442744181   442769030
424229193   424546208   424824878   425064524   442197307   442666806   442693586   442718961   442744199   442769048
424229250   424546273   424825230   425064581   442197323   442666814   442693594   442718979   442744215   442769063
424229318   424546323   424825248   425064953   442197562   442666822   442693602   442718987   442744223   442769071
424229391   424546489   424825263   425065018   442198313   442666855   442693610   442718995   442744231   442769089
424229524   424546612   424825271   425065059   442198578   442666863   442693628   442719001   442744249   442769097
424229557   424546919   424825909   425065067   442198818   442666871   442693636   442719019   442744256   442769105
424229607   424547057   424825933   425065455   442199055   442666905   442693644   442719027   442744264   442769113
424229748   424547305   424826014   425065497   442200572   442666913   442693651   442719035   442744272   442769121
424229888   424547420   424826188   425065570   442200580   442666921   442693669   442719043   442744280   442769139
424229896   424547446   424826360   425065661   442200978   442666939   442693677   442719050   442744298   442769147
424230001   424547644   424826469   425065687   442201018   442666947   442693685   442719068   442744306   442769154
424230043   424547826   424826501   425065943   442201133   442666962   442693701   442719076   442744314   442769162
424230159   424547842   424826535   425066032   442201364   442666970   442693719   442719084   442744322   442769170
424230597   424547867   424826550   425066115   442201372   442666988   442693727   442719092   442744330   442769188
424230613   424547990   424826675   425066214   442201497   442666996   442693735   442719100   442744348   442769196
424231025   424548030   424826717   425066305   442201646   442667010   442693743   442719118   442744355   442769204
424231041   424548196   424826949   425066339   442202032   442667028   442693750   442719126   442744363   442769212
424231132   424548436   424827467   425066347   442202081   442667036   442693768   442719134   442744371   442769220
424231322   424548519   424827541   425066479   442202883   442667044   442693776   442719142   442744389   442769238
424231553   424548527   424827632   425066636   442203063   442667051   442693784   442719159   442744397   442769246
424231785   424548725   424827657   425066677   442204582   442667069   442693792   442719167   442744405   442769253
424232031   424548741   424827913   425066685   442205969   442667077   442693800   442719175   442744413   442769261
424232064   424548816   424828002   425066727   442206355   442667101   442693818   442719183   442744421   442769279
424232106   424548824   424828010   425066818   442206587   442667119   442693834   442719191   442744439   442769287
424232171   424548899   424828176   425066834   442206652   442667127   442693859   442719209   442744447   442769295
424232205   424548907   424828366   425066958   442207130   442667135   442693867   442719225   442744454   442769303
424232338   424548998   424828408   425066982   442208641   442667192   442693875   442719233   442744462   442769311
424232700   424549046   424828440   425067337   442209581   442667234   442693883   442719241   442744470   442769329
424232817   424549079   424828523   425067451   442209763   442667242   442693891   442719258   442744488   442769345
424232866   424549384   424828549   425067485   442209862   442667259   442693917   442719266   442744496   442769352
424232908   424549574   424828986   425067576   442209946   442667267   442693925   442719274   442744504   442769360
424233211   424549863   424829117   425067774   442210373   442667275   442693933   442719282   442744512   442769378
424233310   424550150   424829125   425067790   442210654   442667283   442693941   442719290   442744520   442769386
424233526   424550259   424829133   425067840   442211264   442667291   442693958   442719308   442744538   442769394
424233716   424550382   424829372   425068004   442211736   442667309   442693966   442719316   442744546   442769402
424233740   424550390   424829448   425068046   442212528   442667317   442693974   442719324   442744553   442769410
424233823   424550531   424829513   425068095   442213450   442667325   442693982   442719332   442744561   442769428

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442793626   442818340   442843066   442867610   442891941   442916268   442940607   442964698   442988507   443012182
442793634   442818357   442843082   442867628   442891958   442916276   442940615   442964706   442988515   443012190
442793642   442818365   442843090   442867636   442891966   442916284   442940623   442964714   442988523   443012208
442793659   442818373   442843108   442867644   442891974   442916292   442940631   442964722   442988531   443012216
442793667   442818381   442843116   442867651   442891982   442916300   442940649   442964730   442988549   443012224
442793675   442818399   442843124   442867669   442891990   442916318   442940656   442964748   442988556   443012232
442793683   442818407   442843132   442867677   442892006   442916326   442940664   442964755   442988564   443012240
442793691   442818415   442843140   442867685   442892014   442916334   442940672   442964763   442988572   443012257
442793709   442818423   442843157   442867693   442892022   442916342   442940680   442964771   442988580   443012265
442793717   442818431   442843165   442867701   442892030   442916359   442940698   442964789   442988598   443012273
442793725   442818449   442843173   442867719   442892048   442916367   442940706   442964797   442988606   443012281
442793733   442818456   442843181   442867727   442892055   442916375   442940714   442964805   442988614   443012299
442793741   442818464   442843199   442867735   442892063   442916383   442940722   442964813   442988622   443012307
442793758   442818472   442843207   442867743   442892071   442916391   442940730   442964821   442988630   443012315
442793766   442818480   442843215   442867750   442892089   442916409   442940748   442964839   442988648   443012323
442793774   442818498   442843223   442867768   442892097   442916417   442940755   442964847   442988655   443012331
442793782   442818506   442843231   442867776   442892105   442916425   442940763   442964854   442988663   443012349
442793790   442818514   442843249   442867784   442892113   442916433   442940771   442964862   442988671   443012356
442793808   442818522   442843256   442867792   442892121   442916441   442940789   442964870   442988689   443012364
442793816   442818530   442843264   442867800   442892139   442916458   442940797   442964888   442988697   443012372
442793824   442818548   442843272   442867818   442892147   442916466   442940805   442964896   442988705   443012380
442793840   442818563   442843280   442867834   442892154   442916474   442940813   442964904   442988713   443012398
442793857   442818571   442843298   442867842   442892162   442916482   442940821   442964912   442988721   443012406
442793865   442818589   442843306   442867859   442892170   442916490   442940839   442964920   442988739   443012414
442793873   442818597   442843314   442867867   442892188   442916508   442940847   442964938   442988747   443012422
442793881   442818605   442843322   442867875   442892196   442916516   442940854   442964946   442988754   443012430
442793899   442818621   442843330   442867883   442892204   442916524   442940862   442964953   442988762   443012448
442793907   442818639   442843348   442867891   442892212   442916532   442940870   442964961   442988770   443012455
442793915   442818647   442843355   442867909   442892220   442916540   442940888   442964979   442988788   443012463
442793923   442818654   442843363   442867917   442892238   442916557   442940896   442964987   442988796   443012471
442793931   442818662   442843371   442867925   442892246   442916565   442940904   442964995   442988804   443012489
442793949   442818670   442843397   442867933   442892253   442916573   442940912   442965000   442988812   443012497
442793956   442818688   442843405   442867941   442892261   442916581   442940920   442965018   442988820   443012505
442793964   442818696   442843413   442867958   442892279   442916599   442940938   442965026   442988838   443012513
442793972   442818704   442843421   442867966   442892287   442916607   442940946   442965034   442988846   443012521
442793980   442818712   442843439   442867974   442892295   442916615   442940953   442965042   442988853   443012539
442793998   442818720   442843454   442867982   442892303   442916623   442940961   442965059   442988861   443012547
442794004   442818738   442843462   442867990   442892311   442916631   442940979   442965067   442988879   443012554
442794012   442818746   442843470   442868006   442892329   442916649   442940987   442965075   442988887   443012562
442794020   442818761   442843488   442868014   442892337   442916656   442940995   442965083   442988895   443012570
442794038   442818779   442843496   442868022   442892345   442916664   442941001   442965091   442988903   443012588
442794046   442818787   442843504   442868030   442892352   442916672   442941019   442965109   442988911   443012596
442794053   442818795   442843512   442868048   442892360   442916680   442941027   442965117   442988929   443012604
442794061   442818803   442843520   442868055   442892378   442916698   442941035   442965125   442988937   443012612
442794079   442818811   442843538   442868063   442892386   442916706   442941043   442965133   442988945   443012620
442794087   442818829   442843546   442868089   442892394   442916714   442941050   442965141   442988952   443012638
442794095   442818845   442843553   442868097   442892402   442916722   442941068   442965158   442988960   443012646
442794103   442818852   442843561   442868105   442892410   442916730   442941076   442965166   442988978   443012653
442794111   442818860   442843579   442868113   442892428   442916748   442941084   442965174   442988986   443012661
442794129   442818878   442843587   442868121   442892436   442916755   442941092   442965182   442988994   443012679
442794137   442818886   442843595   442868139   442892444   442916763   442941100   442965190   442989000   443012687
442794145   442818894   442843603   442868147   442892451   442916771   442941118   442965208   442989018   443012695
442794152   442818902   442843611   442868154   442892469   442916789   442941126   442965216   442989026   443012703
442794160   442818910   442843629   442868162   442892477   442916797   442941134   442965224   442989034   443012711
442794178   442818928   442843637   442868170   442892485   442916805   442941142   442965232   442989042   443012729
442794186   442818936   442843645   442868188   442892493   442916813   442941159   442965240   442989059   443012737
442794194   442818944   442843652   442868196   442892501   442916821   442941167   442965257   442989067   443012745
442794202   442818951   442843660   442868204   442892519   442916839   442941175   442965265   442989075   443012752
442794210   442818969   442843678   442868212   442892527   442916847   442941183   442965273   442989083   443012760
442794228   442818985   442843686   442868220   442892535   442916854   442941191   442965281   442989091   443012778
442794236   442818993   442843694   442868238   442892543   442916862   442941209   442965299   442989109   443012786
442794244   442819009   442843702   442868246   442892550   442916870   442941217   442965307   442989117   443012794
442794251   442819017   442843710   442868253   442892568   442916888   442941225   442965315   442989125   443012802
442794269   442819025   442843728   442868261   442892576   442916896   442941233   442965323   442989133   443012810
442794277   442819033   442843736   442868279   442892584   442916904   442941241   442965331   442989141   443012828
442794285   442819041   442843744   442868287   442892600   442916912   442941258   442965349   442989158   443012836
442794293   442819058   442843751   442868295   442892618   442916920   442941266   442965356   442989166   443012844


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424233906   424550788   424829521   425068269   442213674   442667333   442693990   442719340   442744579   442769436
424233989   424550978   424829554   425068509   442214086   442667341   442694006   442719357   442744587   442769444
424233997   424551166   424829604   425068533   442214201   442667358   442694014   442719365   442744595   442769451
424234193   424551299   424829695   425068574   442214839   442667366   442694022   442719381   442744611   442769469
424234250   424551414   424830073   425068590   442215059   442667374   442694030   442719399   442744629   442769477
424234409   424551430   424830172   425068632   442215729   442667382   442694048   442719415   442744637   442769485
424234425   424551638   424830180   425068731   442216008   442667390   442694055   442719423   442744645   442769493
424234433   424551695   424830511   425068913   442216016   442667416   442694063   442719431   442744652   442769501
424235216   424551836   424830594   425068988   442216081   442667424   442694071   442719449   442744660   442769519
424235356   424551919   424830610   425069036   442216479   442667432   442694089   442719456   442744678   442769527
424235497   424552339   424830669   425069069   442216610   442667457   442694097   442719464   442744686   442769535
424235513   424552453   424830719   425069119   442217188   442667465   442694105   442719472   442744694   442769550
424235521   424552537   424830909   425069242   442217493   442667473   442694113   442719480   442744702   442769568
424235711   424552644   424831196   425069267   442219069   442667481   442694121   442719498   442744710   442769576
424236420   424552800   424831279   425069416   442219549   442667507   442694139   442719506   442744728   442769584
424236511   424553006   424831477   425069804   442220380   442667515   442694147   442719522   442744736   442769592
424236966   424553022   424831709   425069903   442220760   442667531   442694154   442719530   442744744   442769600
424236990   424553121   424831741   425069986   442220778   442667549   442694162   442719548   442744751   442769618
424237006   424553162   424831774   425069994   442220828   442667556   442694170   442719555   442744769   442769626
424237196   424553170   424831782   425070018   442221651   442667572   442694188   442719563   442744777   442769634
424237402   424553311   424831881   425070042   442221735   442667606   442694196   442719571   442744785   442769642
424237519   424553337   424832004   425070083   442222147   442667614   442694204   442719589   442744793   442769659
424237535   424553386   424832012   425070216   442222493   442667622   442694212   442719605   442744801   442769667
424237592   424553493   424832129   425070299   442222550   442667648   442694220   442719613   442744819   442769675
424237691   424553527   424832194   425070331   442222626   442667655   442694238   442719621   442744827   442769683
424237816   424553832   424832285   425070356   442223459   442667663   442694246   442719639   442744835   442769691
424238061   424554129   424832434   425070471   442223723   442667689   442694253   442719654   442744843   442769709
424238376   424554236   424832533   425070547   442224291   442667697   442694261   442719696   442744850   442769717
424238418   424554293   424832608   425070927   442224648   442667705   442694279   442719704   442744868   442769725
424238533   424554608   424832673   425070968   442224739   442667713   442694287   442719712   442744876   442769741
424238590   424554632   424832681   425071057   442224846   442667721   442694295   442719720   442744884   442769758
424238863   424554756   424832863   425071123   442225447   442667739   442694303   442719738   442744892   442769766
424239069   424554939   424833101   425071131   442225496   442667747   442694311   442719746   442744900   442769774
424239101   424555332   424833168   425071172   442226890   442667754   442694329   442719753   442744918   442769790
424239143   424555449   424833366   425071206   442227112   442667770   442694337   442719761   442744926   442769808
424239358   424555522   424833465   425071347   442227294   442667788   442694345   442719779   442744934   442769816
424239663   424555654   424833556   425071354   442227500   442667796   442694352   442719787   442744942   442769824
424239838   424555704   424833622   425071404   442228359   442667812   442694360   442719795   442744967   442769832
424239895   424555795   424833648   425071453   442228755   442667820   442694378   442719803   442744975   442769840
424239978   424555860   424833747   425071693   442229548   442667838   442694386   442719811   442744983   442769857
424240000   424555977   424833986   425071719   442230314   442667846   442694394   442719829   442744991   442769865
424240141   424556173   424834018   425071990   442230454   442667853   442694402   442719837   442745006   442769873
424240414   424556306   424834141   425072139   442230744   442667887   442694410   442719845   442745014   442769881
424240521   424557007   424834380   425072212   442230967   442667895   442694428   442719852   442745022   442769899
424240562   424557189   424834539   425072386   442230991   442667903   442694436   442719860   442745030   442769907
424240729   424557197   424834620   425072675   442232583   442667929   442694444   442719878   442745048   442769915
424241008   424557205   424834638   425072683   442232757   442667937   442694451   442719886   442745055   442769923
424241297   424557221   424834687   425072691   442233573   442667945   442694469   442719894   442745063   442769931
424241388   424557361   424834786   425072725   442234084   442667952   442694477   442719902   442745071   442769949
424241602   424558021   424834794   425073129   442234308   442667960   442694485   442719910   442745089   442769956
424241651   424558336   424834935   425073236   442234795   442667986   442694493   442719928   442745097   442769964
424241735   424558393   424835197   425073285   442235347   442667994   442694501   442719936   442745105   442769972
424241842   424558427   424835262   425073517   442235651   442668018   442694519   442719944   442745113   442769980
424242048   424558559   424835312   425073541   442236204   442668026   442694535   442719951   442745139   442769998
424242089   424558567   424835460   425073574   442236451   442668034   442694543   442719969   442745147   442770004
424242329   424558591   424835585   425073657   442236659   442668042   442694550   442719977   442745162   442770012
424242519   424558674   424835858   425073822   442237129   442668059   442694568   442719985   442745170   442770020
424242568   424558831   424835940   425073855   442239877   442668067   442694576   442719993   442745188   442770038
424242956   424558872   424835981   425073863   442241147   442668075   442694584   442720009   442745196   442770046
424243343   424559482   424836146   425074143   442241550   442668083   442694592   442720017   442745204   442770053
424243384   424559490   424836260   425074192   442241733   442668109   442694600   442720025   442745220   442770061
424243509   424559516   424836328   425074267   442243135   442668117   442694618   442720033   442745238   442770079
424243517   424559615   424836401   425074333   442243796   442668125   442694626   442720041   442745246   442770087
424243699   424559631   424836484   425074358   442244620   442668133   442694634   442720058   442745253   442770095
424244010   424560159   424836609   425074564   442244679   442668141   442694642   442720066   442745279   442770103
424244119   424560233   424837011   425074572   442246062   442668158   442694659   442720074   442745287   442770111
424244176   424560407   424837177   425074598   442246708   442668166   442694667   442720082   442745295   442770129

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442794319   442819066   442843777   442868303   442892626   442916938   442941274   442965364   442989174   443012851
442794327   442819082   442843785   442868311   442892634   442916946   442941282   442965372   442989182   443012869
442794335   442819090   442843801   442868329   442892642   442916953   442941290   442965380   442989190   443012877
442794343   442819108   442843819   442868337   442892659   442916961   442941308   442965398   442989208   443012885
442794350   442819116   442843827   442868345   442892667   442916979   442941316   442965406   442989216   443012893
442794368   442819124   442843835   442868352   442892675   442916987   442941324   442965414   442989224   443012901
442794376   442819132   442843843   442868360   442892683   442916995   442941332   442965422   442989232   443012919
442794384   442819140   442843850   442868378   442892691   442917001   442941340   442965430   442989240   443012927
442794392   442819157   442843868   442868386   442892709   442917019   442941357   442965448   442989257   443012935
442794400   442819165   442843876   442868394   442892717   442917027   442941365   442965455   442989265   443012943
442794418   442819173   442843884   442868402   442892725   442917035   442941373   442965463   442989273   443012950
442794426   442819181   442843892   442868410   442892733   442917043   442941399   442965471   442989281   443012968
442794434   442819199   442843900   442868428   442892741   442917050   442941407   442965489   442989299   443012976
442794442   442819207   442843918   442868436   442892758   442917068   442941415   442965497   442989307   443012984
442794459   442819215   442843926   442868444   442892766   442917076   442941423   442965505   442989315   443012992
442794467   442819223   442843934   442868451   442892774   442917084   442941431   442965513   442989323   443013008
442794475   442819231   442843942   442868469   442892782   442917092   442941449   442965521   442989331   443013024
442794483   442819249   442843967   442868477   442892790   442917100   442941456   442965539   442989349   443013032
442794491   442819256   442843975   442868485   442892808   442917118   442941464   442965547   442989356   443013040
442794509   442819264   442843983   442868501   442892816   442917126   442941472   442965554   442989364   443013057
442794517   442819272   442843991   442868519   442892824   442917134   442941480   442965562   442989372   443013065
442794525   442819280   442844007   442868527   442892832   442917142   442941498   442965588   442989380   443013073
442794533   442819298   442844015   442868535   442892840   442917159   442941506   442965596   442989398   443013081
442794541   442819306   442844023   442868543   442892857   442917167   442941522   442965604   442989406   443013099
442794558   442819314   442844031   442868550   442892865   442917175   442941548   442965612   442989414   443013107
442794566   442819322   442844049   442868568   442892873   442917183   442941555   442965620   442989422   443013115
442794574   442819330   442844056   442868576   442892881   442917191   442941563   442965638   442989430   443013123
442794582   442819348   442844064   442868584   442892899   442917209   442941571   442965646   442989448   443013131
442794590   442819355   442844072   442868592   442892907   442917217   442941589   442965653   442989455   443013149
442794608   442819363   442844098   442868600   442892915   442917225   442941597   442965661   442989463   443013156
442794616   442819371   442844114   442868618   442892923   442917233   442941605   442965679   442989471   443013164
442794624   442819389   442844130   442868626   442892931   442917241   442941613   442965687   442989489   443013172
442794632   442819397   442844148   442868634   442892949   442917258   442941621   442965695   442989497   443013180
442794640   442819405   442844155   442868642   442892956   442917266   442941639   442965703   442989505   443013198
442794657   442819413   442844171   442868667   442892964   442917274   442941647   442965711   442989513   443013206
442794665   442819421   442844189   442868675   442892972   442917282   442941654   442965729   442989521   443013214
442794673   442819439   442844197   442868683   442892980   442917290   442941662   442965737   442989539   443013222
442794681   442819447   442844205   442868691   442892998   442917308   442941670   442965745   442989547   443013248
442794699   442819454   442844213   442868709   442893020   442917316   442941688   442965752   442989554   443013255
442794707   442819462   442844221   442868717   442893038   442917324   442941696   442965760   442989562   443013263
442794715   442819470   442844239   442868725   442893046   442917332   442941704   442965778   442989570   443013271
442794723   442819488   442844247   442868733   442893053   442917340   442941712   442965786   442989588   443013289
442794731   442819496   442844254   442868741   442893061   442917357   442941720   442965794   442989596   443013297
442794749   442819504   442844262   442868758   442893079   442917373   442941738   442965802   442989604   443013305
442794756   442819512   442844270   442868766   442893087   442917381   442941746   442965810   442989612   443013313
442794764   442819520   442844288   442868774   442893095   442917407   442941753   442965828   442989620   443013321
442794772   442819538   442844296   442868782   442893103   442917415   442941761   442965836   442989638   443013339
442794780   442819546   442844304   442868790   442893111   442917423   442941779   442965844   442989646   443013347
442794798   442819553   442844312   442868808   442893129   442917431   442941787   442965851   442989653   443013354
442794806   442819561   442844320   442868816   442893137   442917449   442941795   442965869   442989661   443013362
442794814   442819579   442844338   442868824   442893160   442917456   442941803   442965877   442989679   443013370
442794822   442819587   442844346   442868832   442893178   442917464   442941811   442965885   442989687   443013388
442794830   442819595   442844353   442868840   442893186   442917472   442941829   442965893   442989695   443013396
442794848   442819603   442844361   442868857   442893194   442917480   442941837   442965901   442989703   443013404
442794855   442819611   442844379   442868865   442893202   442917498   442941845   442965919   442989711   443013412
442794863   442819629   442844387   442868873   442893210   442917506   442941852   442965927   442989729   443013420
442794871   442819637   442844395   442868881   442893228   442917514   442941860   442965935   442989737   443013438
442794897   442819645   442844403   442868899   442893236   442917522   442941878   442965943   442989745   443013446
442794905   442819652   442844411   442868907   442893244   442917530   442941886   442965968   442989752   443013453
442794913   442819660   442844429   442868915   442893251   442917548   442941894   442965976   442989760   443013461
442794921   442819678   442844437   442868923   442893277   442917555   442941902   442965984   442989778   443013479
442794939   442819686   442844445   442868931   442893285   442917563   442941910   442965992   442989786   443013487
442794947   442819694   442844452   442868949   442893293   442917571   442941928   442966008   442989794   443013495
442794954   442819702   442844460   442868956   442893301   442917589   442941936   442966016   442989802   443013503
442794962   442819710   442844478   442868964   442893319   442917597   442941944   442966024   442989810   443013511
442794970   442819736   442844486   442868972   442893327   442917605   442941951   442966032   442989828   443013529
442794988   442819744   442844494   442868980   442893335   442917613   442941969   442966040   442989836   443013537


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424244234   424560464   424837367   425074804   442246856   442668182   442694675   442720090   442745303   442770137
424244317   424560555   424837375   425075009   442247151   442668190   442694683   442720108   442745311   442770145
424244382   424560647   424837615   425075074   442247235   442668208   442694691   442720116   442745329   442770152
424244481   424560969   424837631   425075108   442247326   442668216   442694709   442720124   442745337   442770160
424244580   424561447   424837797   425075157   442247748   442668224   442694717   442720132   442745345   442770178
424244598   424561512   424837813   425075181   442247888   442668232   442694725   442720140   442745352   442770186
424244770   424561520   424837821   425075280   442248548   442668240   442694733   442720157   442745360   442770194
424244788   424561561   424837938   425075314   442248795   442668265   442694741   442720173   442745378   442770202
424244986   424561611   424838050   425075322   442248977   442668273   442694766   442720181   442745386   442770210
424245066   424561629   424838118   425075421   442249934   442668281   442694782   442720199   442745394   442770228
424245108   424561678   424838241   425075439   442249959   442668299   442694790   442720207   442745402   442770236
424245140   424561827   424838258   425075488   442250056   442668323   442694808   442720215   442745410   442770244
424245256   424562023   424838365   425075520   442250569   442668331   442694816   442720223   442745428   442770251
424245538   424562254   424838480   425075603   442250916   442668349   442694824   442720231   442745436   442770269
424245561   424562338   424838712   425075694   442250999   442668364   442694840   442720249   442745451   442770277
424245652   424562387   424838720   425075868   442251047   442668372   442694857   442720256   442745469   442770285
424245819   424562585   424838787   425075926   442251138   442668380   442694865   442720264   442745477   442770293
424245934   424562718   424838803   425075942   442251294   442668398   442694873   442720272   442745493   442770301
424246130   424562874   424838811   425075967   442251799   442668406   442694881   442720280   442745501   442770319
424246239   424562908   424839066   425075983   442251930   442668414   442694899   442720306   442745519   442770327
424246437   424563203   424839223   425075991   442252078   442668422   442694907   442720314   442745527   442770335
424246478   424563245   424839363   425076106   442252128   442668430   442694915   442720322   442745535   442770350
424246486   424563344   424839470   425076197   442252862   442668448   442694923   442720330   442745543   442770368
424246627   424563468   424839579   425076254   442253142   442668455   442694931   442720348   442745550   442770376
424246973   424563476   424839611   425076387   442253795   442668463   442694949   442720355   442745576   442770384
424247047   424563591   424839686   425076445   442254025   442668489   442694956   442720363   442745584   442770392
424247088   424563948   424839751   425076486   442254249   442668505   442694964   442720371   442745592   442770400
424247112   424564052   424839827   425076759   442255204   442668521   442694972   442720389   442745600   442770418
424247344   424564292   424839850   425076890   442255469   442668539   442694980   442720397   442745618   442770426
424247591   424564516   424839942   425076957   442255535   442668562   442694998   442720405   442745626   442770434
424247781   424564532   424840304   425077096   442256160   442668570   442695003   442720413   442745634   442770442
424247898   424564540   424840445   425077161   442256178   442668588   442695011   442720421   442745642   442770459
424248060   424564565   424840791   425077245   442256566   442668596   442695037   442720439   442745659   442770467
424248268   424564599   424840817   425077278   442256640   442668604   442695045   442720447   442745667   442770475
424248342   424564664   424841591   425077286   442257374   442668612   442695052   442720454   442745675   442770483
424248425   424564714   424841658   425077385   442257523   442668638   442695078   442720462   442745683   442770491
424248573   424564797   424841724   425077492   442257531   442668646   442695086   442720470   442745691   442770509
424248763   424564904   424841831   425077609   442258430   442668653   442695094   442720488   442745709   442770517
424248771   424564953   424841997   425077633   442259503   442668661   442695102   442720496   442745717   442770525
424248896   424565125   424842128   425077740   442260469   442668679   442695110   442720504   442745733   442770533
424249019   424565349   424842250   425077963   442260873   442668695   442695128   442720512   442745741   442770541
424249027   424565356   424842334   425078045   442260915   442668703   442695136   442720520   442745758   442770558
424249779   424565471   424842383   425078052   442261152   442668711   442695144   442720538   442745766   442770566
424249811   424565570   424842409   425078060   442261178   442668737   442695151   442720546   442745774   442770574
424249837   424565711   424842417   425078136   442261723   442668745   442695169   442720553   442745782   442770582
424249886   424565836   424842466   425078342   442262580   442668752   442695177   442720561   442745790   442770590
424249910   424565844   424842490   425078367   442264685   442668760   442695185   442720579   442745808   442770616
424250017   424566248   424842748   425078425   442264909   442668778   442695193   442720587   442745816   442770624
424250397   424566297   424843167   425078490   442265047   442668786   442695219   442720595   442745824   442770632
424250496   424566511   424843803   425078631   442265468   442668794   442695227   442720603   442745832   442770640
424250926   424566610   424843860   425078649   442265716   442668802   442695243   442720611   442745840   442770657
424250975   424566750   424843878   425078763   442266441   442668810   442695250   442720629   442745857   442770665
424251627   424567212   424844058   425078805   442266599   442668828   442695276   442720637   442745865   442770673
424251650   424567238   424844223   425078896   442266672   442668844   442695284   442720645   442745873   442770681
424251684   424567295   424844322   425079134   442267084   442668851   442695292   442720652   442745881   442770699
424251858   424567501   424844371   425079209   442267324   442668877   442695300   442720660   442745899   442770707
424251890   424567535   424844405   425079266   442267597   442668885   442695318   442720678   442745907   442770715
424251999   424567550   424844504   425079357   442267704   442668893   442695326   442720686   442745915   442770723
424252187   424567634   424844546   425079522   442268041   442668901   442695342   442720694   442745923   442770731
424252203   424567741   424844561   425079555   442269510   442668919   442695359   442720702   442745931   442770749
424252385   424567782   424844645   425079688   442269528   442668927   442695367   442720710   442745949   442770756
424252427   424567907   424844710   425079712   442270120   442668935   442695375   442720728   442745956   442770764
424252559   424568137   424844868   425079894   442270187   442668943   442695383   442720736   442745964   442770772
424252591   424568194   424844900   425079951   442270245   442668950   442695391   442720744   442745972   442770780
424252724   424568210   424845048   425079977   442270369   442668968   442695409   442720751   442745980   442770798
424253078   424568269   424845089   425080009   442270468   442668976   442695417   442720777   442745998   442770806
424253243   424568590   424845105   425080231   442270526   442668984   442695425   442720785   442746004   442770822

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442794996   442819751   442844502   442868998   442893343   442917621   442941977   442966057   442989844   443013545
442795001   442819769   442844510   442869004   442893350   442917639   442941985   442966065   442989851   443013560
442795019   442819777   442844528   442869012   442893368   442917647   442941993   442966073   442989869   443013578
442795027   442819785   442844536   442869020   442893376   442917654   442942009   442966081   442989877   443013586
442795035   442819793   442844544   442869038   442893384   442917662   442942017   442966099   442989885   443013594
442795043   442819801   442844551   442869046   442893392   442917670   442942025   442966107   442989893   443013602
442795050   442819819   442844569   442869053   442893400   442917688   442942033   442966115   442989901   443013610
442795068   442819827   442844577   442869061   442893418   442917696   442942041   442966123   442989919   443013628
442795076   442819835   442844585   442869079   442893434   442917704   442942058   442966131   442989927   443013636
442795084   442819843   442844593   442869087   442893442   442917720   442942066   442966149   442989935   443013644
442795092   442819876   442844619   442869095   442893459   442917738   442942074   442966156   442989943   443013651
442795100   442819884   442844627   442869103   442893467   442917746   442942082   442966164   442989950   443013669
442795118   442819892   442844635   442869111   442893475   442917753   442942108   442966172   442989968   443013677
442795126   442819918   442844643   442869129   442893483   442917761   442942116   442966180   442989976   443013685
442795134   442819926   442844650   442869137   442893491   442917779   442942124   442966198   442989984   443013693
442795142   442819934   442844668   442869145   442893509   442917787   442942132   442966206   442989992   443013701
442795159   442819942   442844676   442869152   442893517   442917795   442942140   442966214   442990008   443013719
442795167   442819959   442844684   442869160   442893525   442917803   442942157   442966222   442990016   443013727
442795175   442819967   442844692   442869178   442893533   442917811   442942165   442966230   442990024   443013735
442795183   442819975   442844700   442869186   442893541   442917829   442942173   442966248   442990032   443013743
442795191   442819983   442844718   442869194   442893558   442917837   442942181   442966255   442990040   443013750
442795217   442819991   442844726   442869202   442893566   442917845   442942199   442966263   442990057   443013768
442795225   442820007   442844734   442869210   442893574   442917852   442942207   442966271   442990065   443013776
442795241   442820015   442844742   442869228   442893582   442917860   442942215   442966289   442990073   443013784
442795258   442820023   442844759   442869236   442893608   442917878   442942223   442966305   442990081   443013792
442795266   442820031   442844767   442869244   442893624   442917886   442942231   442966313   442990099   443013800
442795274   442820049   442844775   442869251   442893632   442917902   442942249   442966321   442990107   443013818
442795282   442820056   442844791   442869269   442893640   442917910   442942256   442966339   442990115   443013826
442795290   442820064   442844809   442869277   442893657   442917928   442942264   442966347   442990123   443013834
442795308   442820072   442844817   442869285   442893665   442917936   442942272   442966354   442990131   443013842
442795316   442820080   442844825   442869293   442893673   442917944   442942280   442966362   442990149   443013859
442795324   442820098   442844833   442869301   442893681   442917951   442942298   442966370   442990156   443013867
442795332   442820106   442844841   442869319   442893699   442917969   442942306   442966388   442990164   443013875
442795340   442820114   442844858   442869327   442893707   442917977   442942314   442966396   442990172   443013883
442795357   442820122   442844874   442869335   442893715   442917985   442942322   442966404   442990180   443013891
442795365   442820130   442844882   442869343   442893723   442918009   442942330   442966412   442990198   443013909
442795373   442820148   442844890   442869350   442893731   442918025   442942348   442966420   442990206   443013917
442795381   442820155   442844908   442869368   442893749   442918033   442942355   442966438   442990214   443013925
442795399   442820163   442844916   442869376   442893756   442918041   442942363   442966446   442990222   443013933
442795407   442820171   442844924   442869384   442893764   442918058   442942371   442966453   442990230   443013941
442795415   442820189   442844932   442869392   442893772   442918066   442942389   442966461   442990248   443013958
442795423   442820197   442844940   442869400   442893780   442918074   442942397   442966479   442990255   443013966
442795431   442820205   442844957   442869418   442893798   442918082   442942405   442966487   442990263   443013974
442795449   442820213   442844965   442869426   442893806   442918090   442942413   442966495   442990271   443013982
442795456   442820221   442844973   442869434   442893814   442918108   442942421   442966503   442990289   443013990
442795464   442820239   442844981   442869442   442893822   442918116   442942439   442966511   442990297   443014006
442795472   442820247   442844999   442869459   442893830   442918124   442942454   442966529   442990305   443014014
442795480   442820254   442845004   442869467   442893848   442918132   442942462   442966537   442990313   443014022
442795506   442820262   442845012   442869475   442893855   442918140   442942470   442966545   442990321   443014030
442795514   442820270   442845020   442869483   442893863   442918157   442942488   442966552   442990339   443014048
442795522   442820288   442845038   442869491   442893871   442918165   442942496   442966560   442990347   443014055
442795530   442820296   442845046   442869509   442893889   442918173   442942504   442966578   442990354   443014063
442795548   442820304   442845053   442869517   442893897   442918181   442942512   442966586   442990362   443014071
442795555   442820312   442845061   442869525   442893913   442918199   442942520   442966594   442990370   443014089
442795563   442820320   442845079   442869533   442893921   442918207   442942538   442966602   442990388   443014097
442795571   442820338   442845087   442869541   442893939   442918215   442942546   442966610   442990396   443014105
442795589   442820346   442845095   442869558   442893947   442918223   442942553   442966628   442990404   443014113
442795597   442820353   442845103   442869574   442893954   442918231   442942561   442966636   442990412   443014121
442795605   442820361   442845111   442869582   442893962   442918249   442942579   442966644   442990420   443014139
442795613   442820379   442845129   442869590   442893970   442918256   442942587   442966651   442990438   443014147
442795621   442820387   442845137   442869608   442893988   442918264   442942595   442966669   442990446   443014154
442795639   442820395   442845145   442869616   442893996   442918272   442942603   442966677   442990453   443014162
442795647   442820403   442845152   442869624   442894002   442918280   442942611   442966685   442990461   443014170
442795654   442820411   442845160   442869632   442894010   442918298   442942629   442966693   442990479   443014188
442795662   442820429   442845178   442869640   442894028   442918306   442942637   442966701   442990487   443014196
442795670   442820437   442845186   442869657   442894036   442918314   442942645   442966719   442990495   443014204
442795688   442820445   442845194   442869665   442894044   442918322   442942652   442966727   442990503   443014212


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424253417   424568780   424845188   425080322   442270856   442668992   442695433   442720793   442746012   442770830
424253755   424568863   424845501   425080348   442271466   442669008   442695441   442720801   442746020   442770848
424253854   424568889   424845592   425080439   442271573   442669016   442695458   442720819   442746038   442770855
424253979   424569168   424845667   425080512   442272274   442669024   442695466   442720827   442746046   442770863
424254134   424569218   424845816   425080553   442272282   442669032   442695474   442720835   442746053   442770871
424254142   424569234   424845899   425080603   442272886   442669057   442695482   442720843   442746061   442770889
424254340   424569747   424845972   425080645   442273033   442669081   442695508   442720850   442746079   442770897
424254381   424569770   424846004   425080736   442273728   442669099   442695516   442720868   442746087   442770905
424254621   424569812   424846095   425080777   442273736   442669115   442695524   442720876   442746103   442770913
424254761   424569879   424846103   425080819   442273777   442669123   442695532   442720884   442746111   442770921
424255172   424569887   424846111   425080835   442273983   442669131   442695540   442720892   442746129   442770939
424255321   424570067   424846129   425080934   442274015   442669156   442695557   442720918   442746137   442770947
424255495   424570083   424846285   425081072   442274783   442669164   442695565   442720926   442746145   442770954
424255735   424570208   424846400   425081098   442274890   442669180   442695573   442720934   442746152   442770962
424256196   424570356   424846533   425081163   442275145   442669198   442695599   442720959   442746160   442770970
424256402   424570588   424846665   425081213   442275194   442669206   442695607   442720967   442746178   442770988
424256485   424570596   424846673   425081312   442275210   442669214   442695615   442720975   442746186   442770996
424256501   424570745   424846822   425081742   442275343   442669222   442695623   442720983   442746194   442771002
424256725   424570844   424847101   425081759   442275988   442669230   442695631   442720991   442746202   442771010
424256790   424571008   424847168   425081858   442276085   442669248   442695656   442721007   442746210   442771028
424256972   424571040   424847275   425081916   442276218   442669271   442695664   442721015   442746228   442771036
424257194   424571131   424847580   425082005   442276440   442669297   442695672   442721023   442746236   442771044
424257228   424571271   424847622   425082880   442277711   442669305   442695680   442721031   442746244   442771051
424257244   424571396   424847739   425082930   442277729   442669313   442695706   442721049   442746251   442771077
424257467   424571438   424848018   425082971   442277943   442669321   442695714   442721056   442746269   442771085
424257681   424571495   424848042   425083003   442278206   442669339   442695722   442721064   442746277   442771093
424258036   424571826   424848083   425083102   442278438   442669347   442695730   442721072   442746285   442771119
424258135   424571958   424848158   425083136   442278792   442669354   442695748   442721080   442746293   442771127
424258408   424572048   424848299   425083144   442279345   442669362   442695755   442721098   442746301   442771135
424258440   424572105   424848588   425083185   442279899   442669370   442695763   442721106   442746319   442771143
424258622   424572220   424848786   425083201   442279931   442669388   442695789   442721114   442746327   442771150
424258713   424572238   424848802   425083417   442281291   442669396   442695797   442721122   442746335   442771168
424258895   424572402   424848919   425083649   442281770   442669404   442695805   442721130   442746343   442771176
424258903   424572519   424848935   425083706   442281812   442669420   442695813   442721148   442746350   442771184
424259208   424572634   424849016   425083722   442282372   442669438   442695821   442721155   442746376   442771192
424259356   424572766   424849149   425083789   442283917   442669446   442695839   442721163   442746384   442771200
424259372   424572824   424849164   425083805   442283958   442669453   442695847   442721171   442746392   442771218
424259422   424572840   424849172   425083847   442285052   442669461   442695854   442721189   442746400   442771226
424259448   424572873   424849339   425083870   442285227   442669479   442695862   442721197   442746426   442771234
424259489   424572931   424849388   425083904   442285672   442669487   442695870   442721205   442746467   442771242
424259596   424572980   424849420   425084126   442285730   442669495   442695888   442721213   442746475   442771267
424259612   424573053   424849982   425084167   442285904   442669503   442695896   442721239   442746483   442771275
424259992   424573160   424850089   425084225   442285920   442669511   442695904   442721247   442746491   442771283
424260032   424573178   424850097   425084233   442286688   442669529   442695920   442721254   442746509   442771291
424260289   424573335   424850105   425084258   442287116   442669537   442695938   442721270   442746517   442771309
424260438   424573442   424850238   425084407   442288957   442669552   442695946   442721288   442746525   442771317
424260446   424573582   424850444   425084530   442289096   442669560   442695953   442721296   442746533   442771325
424260578   424573632   424850857   425084688   442289914   442669586   442695961   442721304   442746541   442771333
424260636   424573772   424851004   425084720   442290565   442669594   442695979   442721312   442746558   442771341
424260701   424573780   424851053   425084738   442290631   442669602   442695987   442721320   442746566   442771358
424260727   424573954   424851095   425084860   442291019   442669610   442695995   442721338   442746574   442771366
424260818   424574093   424851111   425084951   442291209   442669628   442696001   442721346   442746582   442771374
424260842   424574135   424851145   425085099   442291753   442669636   442696027   442721353   442746590   442771382
424261014   424574168   424851228   425085131   442292165   442669644   442696035   442721361   442746608   442771390
424261170   424574531   424851293   425085198   442292611   442669651   442696043   442721379   442746616   442771408
424261295   424574614   424851301   425085719   442292959   442669677   442696050   442721387   442746624   442771416
424261337   424574705   424851343   425085735   442293395   442669685   442696068   442721403   442746632   442771424
424261477   424574846   424851608   425085784   442294591   442669701   442696084   442721411   442746640   442771432
424261576   424574911   424851681   425085842   442294849   442669727   442696092   442721429   442746657   442771440
424261642   424575058   424851871   425085933   442294898   442669735   442696100   442721437   442746665   442771457
424261659   424575082   424851921   425086212   442295358   442669743   442696118   442721445   442746699   442771465
424261915   424575280   424852069   425086477   442296059   442669750   442696126   442721452   442746707   442771473
424262012   424575371   424852234   425086592   442296158   442669776   442696134   442721460   442746715   442771481
424262046   424575520   424852267   425086600   442296315   442669792   442696142   442721478   442746723   442771499
424262087   424575645   424852325   425086626   442297107   442669800   442696159   442721486   442746731   442771507
424262194   424575660   424852416   425086717   442297180   442669818   442696167   442721494   442746749   442771515
424262244   424575694   424852457   425086881   442297206   442669826   442696175   442721502   442746756   442771523

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442795696   442820452   442845202   442869673   442894051   442918330   442942660   442966735   442990511   443014220
442795704   442820460   442845210   442869681   442894069   442918348   442942678   442966743   442990529   443014238
442795712   442820478   442845228   442869699   442894077   442918355   442942686   442966750   442990537   443014246
442795720   442820486   442845236   442869707   442894085   442918363   442942694   442966768   442990545   443014253
442795738   442820494   442845244   442869715   442894093   442918371   442942702   442966776   442990552   443014261
442795746   442820502   442845251   442869723   442894101   442918389   442942710   442966784   442990560   443014279
442795753   442820510   442845269   442869731   442894119   442918397   442942728   442966792   442990578   443014287
442795761   442820528   442845277   442869749   442894127   442918405   442942736   442966800   442990586   443014295
442795779   442820536   442845285   442869756   442894135   442918413   442942744   442966818   442990594   443014303
442795787   442820544   442845293   442869764   442894143   442918421   442942751   442966826   442990602   443014311
442795795   442820551   442845301   442869772   442894150   442918439   442942769   442966834   442990610   443014329
442795803   442820569   442845319   442869798   442894168   442918447   442942777   442966842   442990628   443014337
442795811   442820577   442845327   442869806   442894176   442918462   442942785   442966859   442990636   443014345
442795829   442820585   442845335   442869814   442894184   442918470   442942793   442966867   442990644   443014352
442795837   442820593   442845343   442869822   442894192   442918488   442942801   442966875   442990651   443014360
442795845   442820601   442845350   442869830   442894200   442918496   442942819   442966883   442990669   443014378
442795852   442820619   442845368   442869848   442894218   442918504   442942827   442966891   442990677   443014386
442795860   442820627   442845376   442869855   442894226   442918512   442942835   442966909   442990685   443014394
442795878   442820635   442845384   442869863   442894234   442918520   442942843   442966925   442990693   443014402
442795886   442820643   442845392   442869871   442894242   442918538   442942850   442966933   442990701   443014410
442795894   442820650   442845400   442869889   442894259   442918546   442942868   442966941   442990719   443014428
442795902   442820668   442845418   442869897   442894267   442918553   442942876   442966958   442990727   443014436
442795910   442820676   442845426   442869905   442894275   442918561   442942884   442966966   442990735   443014444
442795928   442820684   442845434   442869913   442894291   442918579   442942892   442966974   442990743   443014451
442795936   442820692   442845442   442869921   442894309   442918587   442942900   442966982   442990750   443014469
442795944   442820700   442845459   442869939   442894317   442918595   442942918   442966990   442990768   443014477
442795951   442820718   442845467   442869947   442894325   442918603   442942926   442967006   442990776   443014485
442795969   442820726   442845475   442869954   442894333   442918611   442942934   442967014   442990784   443014493
442795977   442820734   442845483   442869962   442894341   442918637   442942942   442967022   442990792   443014501
442795985   442820742   442845491   442869970   442894358   442918645   442942959   442967030   442990800   443014519
442795993   442820759   442845509   442869988   442894366   442918652   442942967   442967048   442990818   443014527
442796017   442820767   442845517   442869996   442894374   442918660   442942975   442967055   442990826   443014535
442796025   442820775   442845525   442870002   442894382   442918678   442942983   442967063   442990834   443014543
442796033   442820783   442845533   442870010   442894390   442918686   442942991   442967071   442990842   443014550
442796041   442820791   442845541   442870028   442894408   442918694   442943007   442967089   442990859   443014568
442796058   442820809   442845558   442870036   442894416   442918702   442943015   442967097   442990867   443014576
442796066   442820817   442845574   442870044   442894424   442918710   442943023   442967105   442990875   443014584
442796074   442820825   442845582   442870069   442894432   442918728   442943049   442967113   442990883   443014592
442796082   442820833   442845590   442870077   442894440   442918736   442943056   442967121   442990891   443014600
442796090   442820841   442845608   442870085   442894457   442918744   442943064   442967139   442990909   443014618
442796108   442820858   442845616   442870093   442894465   442918751   442943072   442967147   442990917   443014626
442796116   442820866   442845624   442870101   442894473   442918769   442943080   442967154   442990925   443014634
442796124   442820874   442845632   442870119   442894481   442918777   442943098   442967162   442990933   443014642
442796132   442820882   442845640   442870127   442894499   442918785   442943106   442967170   442990941   443014659
442796140   442820890   442845657   442870135   442894507   442918793   442943114   442967188   442990958   443014667
442796157   442820908   442845673   442870143   442894515   442918801   442943122   442967196   442990966   443014675
442796165   442820916   442845681   442870150   442894523   442918819   442943130   442967204   442990974   443014683
442796173   442820924   442845699   442870168   442894531   442918827   442943148   442967212   442990982   443014691
442796181   442820932   442845707   442870176   442894549   442918835   442943155   442967220   442990990   443014709
442796199   442820940   442845715   442870184   442894556   442918843   442943163   442967238   442991006   443014717
442796207   442820957   442845723   442870192   442894564   442918850   442943171   442967246   442991014   443014725
442796215   442820965   442845731   442870200   442894572   442918868   442943189   442967253   442991022   443014733
442796223   442820973   442845749   442870218   442894580   442918876   442943197   442967261   442991030   443014741
442796231   442820981   442845764   442870226   442894598   442918884   442943205   442967279   442991048   443014758
442796249   442820999   442845772   442870234   442894606   442918892   442943213   442967287   442991055   443014766
442796256   442821005   442845780   442870242   442894614   442918900   442943221   442967295   442991063   443014774
442796264   442821013   442845798   442870259   442894622   442918918   442943239   442967303   442991071   443014782
442796272   442821021   442845806   442870267   442894630   442918926   442943247   442967311   442991089   443014790
442796298   442821039   442845814   442870275   442894648   442918934   442943254   442967329   442991097   443014808
442796306   442821047   442845822   442870283   442894655   442918942   442943262   442967337   442991105   443014816
442796314   442821054   442845830   442870291   442894663   442918959   442943270   442967345   442991113   443014824
442796322   442821062   442845848   442870309   442894671   442918967   442943288   442967352   442991121   443014832
442796330   442821088   442845855   442870317   442894689   442918975   442943296   442967360   442991139   443014840
442796348   442821096   442845863   442870325   442894697   442918983   442943304   442967378   442991147   443014857
442796355   442821104   442845871   442870333   442894705   442918991   442943312   442967386   442991154   443014865
442796363   442821112   442845889   442870341   442894713   442919015   442943320   442967394   442991162   443014873
442796389   442821120   442845897   442870358   442894739   442919023   442943338   442967402   442991188   443014881


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424262301   424576080   424852556   425087020   442298527   442669842   442696183   442721510   442746764   442771531
424262327   424576106   424852580   425087079   442298709   442669859   442696191   442721528   442746772   442771549
424262418   424576155   424852655   425087103   442299012   442669875   442696209   442721536   442746780   442771564
424262434   424576304   424852846   425087152   442299087   442669883   442696217   442721544   442746806   442771572
424262467   424576320   424852879   425087210   442299145   442669909   442696225   442721551   442746814   442771580
424262624   424576478   424852994   425087236   442299244   442669917   442696233   442721569   442746822   442771598
424262681   424576486   424853042   425087350   442299319   442669925   442696241   442721577   442746830   442771606
424263705   424576536   424853133   425087723   442300323   442669933   442696258   442721585   442746848   442771614
424263978   424576593   424853208   425087822   442300547   442669941   442696266   442721593   442746855   442771622
424264851   424576627   424853356   425087848   442300703   442669966   442696274   442721601   442746863   442771630
424264901   424576825   424853596   425087939   442300851   442669974   442696282   442721619   442746871   442771648
424265049   424576940   424853679   425088101   442300968   442669982   442696290   442721627   442746889   442771655
424265072   424577153   424853760   425088135   442301503   442669990   442696308   442721635   442746897   442771663
424265197   424577260   424853935   425088283   442302576   442670006   442696316   442721643   442746905   442771671
424265254   424577336   424853943   425088630   442303228   442670014   442696324   442721650   442746913   442771689
424265411   424577393   424854149   425088770   442303608   442670022   442696332   442721668   442746921   442771697
424265577   424577419   424854230   425088929   442303699   442670030   442696340   442721676   442746939   442771705
424265817   424577567   424854313   425088986   442303723   442670048   442696357   442721684   442746947   442771713
424265825   424577617   424854321   425089117   442304283   442670055   442696365   442721692   442746954   442771721
424265916   424577666   424854339   425089307   442304473   442670071   442696373   442721700   442746962   442771739
424266401   424577708   424854362   425089406   442305371   442670089   442696381   442721726   442746970   442771747
424266518   424577732   424854404   425089422   442306262   442670097   442696399   442721734   442746988   442771754
424266658   424577740   424854495   425089448   442308201   442670105   442696407   442721742   442746996   442771762
424266807   424577773   424854545   425089562   442309183   442670113   442696415   442721759   442747002   442771770
424266898   424577815   424854735   425089612   442309241   442670121   442696423   442721767   442747010   442771788
424267011   424577914   424854842   425089703   442309662   442670154   442696431   442721775   442747028   442771796
424267128   424578474   424854909   425089778   442310280   442670162   442696449   442721791   442747036   442771804
424267177   424578714   424854941   425089802   442312732   442670188   442696456   442721809   442747044   442771812
424267615   424578771   424855013   425089927   442312815   442670196   442696464   442721817   442747051   442771820
424267631   424578805   424855088   425089943   442313045   442670204   442696472   442721825   442747069   442771838
424267953   424578821   424855153   425089976   442313656   442670212   442696480   442721833   442747077   442771846
424268225   424578862   424855351   425090016   442314142   442670238   442696498   442721841   442747085   442771853
424268290   424579100   424855385   425090263   442314514   442670253   442696506   442721866   442747093   442771861
424268464   424579332   424855450   425090503   442314845   442670261   442696514   442721874   442747101   442771879
424268589   424579662   424855864   425090594   442314910   442670287   442696522   442721882   442747119   442771887
424268803   424579977   424856151   425090610   442315255   442670295   442696530   442721890   442747127   442771895
424268969   424579985   424856177   425090958   442315370   442670303   442696548   442721908   442747135   442771903
424269280   424580009   424856334   425091238   442315545   442670311   442696555   442721924   442747143   442771911
424269306   424580082   424856359   425091279   442315792   442670345   442696563   442721932   442747150   442771929
424269314   424580371   424856417   425091360   442316295   442670352   442696571   442721940   442747168   442771937
424269348   424580637   424856516   425091378   442316493   442670360   442696589   442721957   442747176   442771945
424269355   424580652   424856540   425091386   442317160   442670378   442696597   442721965   442747184   442771960
424269371   424580892   424856581   425091428   442317244   442670386   442696605   442721973   442747192   442771978
424269835   424581098   424856607   425091477   442317541   442670394   442696613   442721981   442747200   442771986
424269918   424581106   424856672   425091568   442317905   442670402   442696621   442721999   442747218   442771994
424270429   424581148   424856714   425091618   442318713   442670410   442696639   442722005   442747226   442772000
424270452   424581627   424856722   425091691   442318853   442670428   442696647   442722013   442747242   442772018
424270585   424581692   424856987   425092053   442318911   442670436   442696654   442722021   442747259   442772026
424270684   424581783   424857365   425092111   442319000   442670451   442696662   442722039   442747267   442772034
424270775   424581858   424857530   425092152   442319497   442670469   442696670   442722047   442747275   442772042
424270858   424581874   424857944   425092244   442320024   442670477   442696688   442722054   442747283   442772059
424270999   424582021   424858009   425092251   442320669   442670493   442696696   442722062   442747291   442772067
424271393   424582237   424858082   425092269   442320743   442670501   442696704   442722088   442747309   442772075
424271419   424582419   424858389   425092418   442322822   442670519   442696712   442722096   442747317   442772083
424271443   424582468   424858447   425092442   442323770   442670527   442696720   442722104   442747325   442772091
424271468   424582534   424858504   425092483   442323861   442670535   442696738   442722112   442747333   442772109
424271708   424582559   424858587   425092558   442324935   442670543   442696746   442722120   442747341   442772117
424271872   424582864   424858975   425092632   442325163   442670550   442696753   442722138   442747358   442772125
424272037   424583219   424858983   425092715   442325262   442670568   442696761   442722146   442747366   442772133
424272144   424583524   424859114   425092749   442325502   442670576   442696787   442722153   442747374   442772141
424272193   424583540   424859254   425092764   442325601   442670584   442696795   442722161   442747382   442772158
424272458   424583649   424859486   425092848   442325742   442670592   442696803   442722179   442747416   442772166
424272516   424583672   424859510   425092913   442326245   442670618   442696811   442722187   442747424   442772174
424272797   424583763   424859627   425092947   442327821   442670626   442696829   442722195   442747432   442772182
424272896   424583839   424859692   425093093   442328027   442670642   442696837   442722203   442747457   442772190
424272946   424583938   424859890   425093143   442329041   442670659   442696845   442722211   442747465   442772208
424273001   424584084   424859932   425093333   442329231   442670667   442696852   442722237   442747473   442772216

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442796397   442821138   442845905   442870366   442894747   442919031   442943346   442967410   442991196   443014899
442796405   442821146   442845913   442870374   442894754   442919049   442943353   442967428   442991204   443014907
442796413   442821153   442845921   442870382   442894762   442919056   442943361   442967436   442991212   443014915
442796421   442821161   442845939   442870390   442894770   442919064   442943379   442967444   442991220   443014923
442796439   442821179   442845947   442870408   442894788   442919072   442943387   442967451   442991238   443014931
442796454   442821187   442845954   442870416   442894796   442919080   442943395   442967469   442991246   443014949
442796462   442821195   442845962   442870424   442894804   442919098   442943403   442967477   442991253   443014956
442796470   442821203   442845970   442870432   442894812   442919106   442943411   442967485   442991261   443014964
442796488   442821211   442845988   442870440   442894820   442919114   442943429   442967493   442991279   443014972
442796496   442821237   442846002   442870457   442894838   442919122   442943437   442967501   442991287   443014980
442796504   442821245   442846010   442870465   442894846   442919130   442943445   442967519   442991295   443014998
442796512   442821252   442846028   442870473   442894853   442919148   442943452   442967527   442991303   443015003
442796520   442821260   442846036   442870481   442894861   442919155   442943460   442967535   442991311   443015011
442796538   442821278   442846044   442870499   442894879   442919163   442943478   442967543   442991329   443015029
442796546   442821286   442846051   442870507   442894887   442919171   442943486   442967550   442991337   443015037
442796553   442821294   442846069   442870515   442894895   442919189   442943494   442967568   442991345   443015045
442796561   442821302   442846077   442870523   442894903   442919197   442943502   442967576   442991352   443015052
442796579   442821310   442846085   442870531   442894911   442919205   442943510   442967584   442991360   443015060
442796587   442821328   442846093   442870549   442894929   442919213   442943528   442967592   442991378   443015078
442796595   442821336   442846101   442870556   442894937   442919221   442943536   442967600   442991386   443015086
442796603   442821344   442846119   442870564   442894945   442919239   442943544   442967618   442991394   443015094
442796611   442821351   442846135   442870572   442894952   442919247   442943551   442967626   442991402   443015102
442796629   442821369   442846143   442870580   442894960   442919254   442943569   442967634   442991410   443015110
442796637   442821377   442846150   442870598   442894978   442919262   442943577   442967642   442991428   443015128
442796645   442821385   442846168   442870606   442894986   442919270   442943585   442967659   442991436   443015136
442796652   442821393   442846176   442870614   442894994   442919288   442943593   442967667   442991444   443015144
442796660   442821401   442846184   442870622   442895009   442919296   442943601   442967675   442991451   443015151
442796678   442821419   442846192   442870630   442895017   442919304   442943619   442967683   442991469   443015169
442796686   442821427   442846200   442870648   442895025   442919312   442943627   442967691   442991477   443015177
442796694   442821435   442846218   442870655   442895033   442919320   442943635   442967709   442991485   443015185
442796702   442821443   442846226   442870663   442895041   442919338   442943643   442967717   442991493   443015193
442796710   442821450   442846242   442870671   442895058   442919346   442943650   442967725   442991501   443015201
442796728   442821468   442846259   442870689   442895066   442919353   442943668   442967733   442991519   443015219
442796736   442821476   442846267   442870697   442895074   442919361   442943676   442967741   442991527   443015227
442796744   442821484   442846275   442870705   442895082   442919379   442943684   442967758   442991535   443015235
442796751   442821492   442846283   442870713   442895090   442919387   442943692   442967766   442991543   443015243
442796769   442821500   442846291   442870721   442895108   442919395   442943700   442967774   442991550   443015250
442796777   442821518   442846309   442870739   442895116   442919403   442943718   442967782   442991568   443015268
442796785   442821526   442846317   442870747   442895124   442919411   442943726   442967790   442991576   443015276
442796793   442821534   442846325   442870754   442895132   442919429   442943734   442967808   442991584   443015284
442796801   442821542   442846333   442870762   442895157   442919437   442943742   442967816   442991592   443015292
442796827   442821575   442846341   442870770   442895165   442919445   442943759   442967824   442991600   443015300
442796835   442821583   442846358   442870788   442895173   442919452   442943767   442967832   442991618   443015334
442796843   442821591   442846366   442870796   442895181   442919460   442943775   442967840   442991626   443015342
442796850   442821609   442846374   442870804   442895199   442919478   442943783   442967857   442991634   443015359
442796868   442821617   442846382   442870812   442895207   442919486   442943791   442967865   442991642   443015367
442796876   442821625   442846390   442870820   442895215   442919494   442943809   442967873   442991659   443015375
442796884   442821633   442846408   442870838   442895223   442919502   442943817   442967881   442991667   443015383
442796892   442821658   442846416   442870846   442895231   442919510   442943825   442967899   442991675   443015391
442796900   442821674   442846424   442870853   442895249   442919528   442943833   442967907   442991683   443015409
442796918   442821682   442846432   442870861   442895256   442919536   442943841   442967915   442991691   443015417
442796926   442821690   442846440   442870879   442895264   442919544   442943858   442967923   442991709   443015425
442796934   442821708   442846457   442870887   442895272   442919551   442943866   442967931   442991717   443015433
442796942   442821716   442846465   442870895   442895280   442919569   442943874   442967949   442991725   443015441
442796959   442821724   442846473   442870903   442895298   442919577   442943882   442967956   442991733   443015458
442796967   442821732   442846481   442870911   442895306   442919585   442943890   442967964   442991741   443015466
442796975   442821740   442846499   442870929   442895314   442919593   442943908   442967972   442991758   443015474
442796983   442821757   442846507   442870937   442895322   442919601   442943916   442967980   442991766   443015482
442796991   442821773   442846515   442870945   442895330   442919619   442943924   442967998   442991774   443015490
442797007   442821781   442846523   442870952   442895348   442919627   442943932   442968004   442991782   443015508
442797015   442821799   442846531   442870960   442895355   442919635   442943940   442968012   442991790   443015516
442797023   442821807   442846549   442870978   442895363   442919643   442943957   442968020   442991808   443015524
442797031   442821815   442846556   442870986   442895371   442919650   442943965   442968038   442991816   443015532
442797049   442821823   442846564   442870994   442895389   442919668   442943973   442968046   442991824   443015540
442797056   442821831   442846572   442871000   442895397   442919676   442943981   442968053   442991832   443015557
442797064   442821849   442846580   442871018   442895405   442919684   442943999   442968061   442991840   443015565
442797072   442821856   442846598   442871026   442895413   442919692   442944005   442968079   442991857   443015573


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424273076   424584126   424859965   425093358   442329348   442670675   442696860   442722245   442747481   442772224
424273241   424584415   424860104   425093374   442330478   442670683   442696878   442722260   442747499   442772232
424273290   424584530   424860179   425093382   442330627   442670691   442696886   442722286   442747507   442772240
424273498   424584597   424860195   425093523   442331989   442670709   442696894   442722294   442747515   442772257
424273530   424584795   424860245   425093705   442332508   442670717   442696902   442722302   442747523   442772265
424273753   424584894   424860286   425093713   442332995   442670725   442696910   442722310   442747531   442772273
424274348   424585099   424860393   425093770   442333076   442670733   442696928   442722328   442747549   442772281
424274397   424585156   424860450   425093788   442333738   442670758   442696936   442722336   442747564   442772299
424274520   424585214   424860476   425093796   442333803   442670766   442696944   442722344   442747572   442772307
424274538   424585230   424860500   425093812   442333951   442670774   442696951   442722351   442747580   442772315
424274546   424585248   424860567   425093887   442334348   442670782   442696969   442722369   442747598   442772323
424274694   424585537   424860583   425093994   442334637   442670790   442696977   442722377   442747606   442772331
424274736   424585792   424860724   425094000   442334819   442670808   442696985   442722385   442747614   442772349
424274876   424585842   424860880   425094075   442335972   442670816   442696993   442722393   442747622   442772356
424274884   424586121   424860906   425094083   442335980   442670832   442697009   442722401   442747630   442772364
424275154   424586139   424860948   425094109   442336715   442670840   442697017   442722419   442747648   442772372
424275162   424586188   424861078   425094125   442336780   442670857   442697025   442722427   442747655   442772380
424275394   424586204   424861235   425094174   442338653   442670865   442697033   442722435   442747663   442772398
424275410   424586493   424861706   425094182   442338836   442670873   442697058   442722443   442747671   442772406
424275451   424586592   424861714   425094224   442339818   442670899   442697066   442722450   442747689   442772414
424275626   424586758   424861722   425094273   442340923   442670907   442697074   442722468   442747697   442772422
424275659   424586857   424861987   425094406   442342085   442670923   442697082   442722476   442747705   442772430
424275766   424586873   424862027   425094620   442342556   442670931   442697090   442722492   442747713   442772448
424275832   424586964   424862126   425094646   442342770   442670949   442697108   442722500   442747721   442772463
424276053   424587020   424862183   425094661   442343265   442670964   442697116   442722518   442747739   442772471
424276145   424587475   424862423   425094679   442343646   442670980   442697124   442722526   442747747   442772489
424276194   424587525   424862449   425094687   442343844   442671004   442697132   442722534   442747754   442772497
424276509   424587541   424862480   425094695   442344503   442671012   442697140   442722542   442747762   442772505
424276533   424587715   424862902   425094752   442345146   442671020   442697157   442722559   442747770   442772513
424276806   424587756   424862944   425094836   442345807   442671038   442697165   442722567   442747788   442772521
424277085   424587780   424862985   425094927   442347357   442671046   442697173   442722575   442747796   442772539
424277192   424587855   424863033   425095122   442347464   442671079   442697199   442722583   442747804   442772547
424277226   424587897   424863041   425095247   442348983   442671095   442697215   442722591   442747812   442772554
424277283   424587947   424863082   425095395   442349502   442671103   442697223   442722609   442747820   442772562
424277333   424588291   424863389   425095452   442350005   442671111   442697231   442722617   442747838   442772570
424277408   424588366   424863512   425095502   442351805   442671129   442697249   442722625   442747846   442772588
424277580   424588390   424863629   425095551   442352555   442671137   442697256   442722633   442747853   442772596
424277663   424588424   424863645   425095825   442352811   442671145   442697264   442722641   442747861   442772604
424277689   424588549   424863793   425095882   442353157   442671152   442697272   442722658   442747879   442772612
424278059   424588580   424863819   425096062   442354627   442671178   442697298   442722666   442747887   442772620
424278091   424588598   424863876   425096153   442354908   442671186   442697306   442722674   442747895   442772638
424278182   424588614   424863892   425096187   442355772   442671194   442697314   442722682   442747903   442772646
424278190   424588630   424864098   425096294   442357679   442671202   442697322   442722690   442747911   442772653
424278216   424588697   424864163   425096419   442357828   442671210   442697330   442722708   442747929   442772661
424278521   424588838   424864742   425096468   442358172   442671228   442697348   442722716   442747937   442772679
424278802   424588879   424864833   425096484   442358206   442671236   442697355   442722724   442747945   442772687
424278836   424588945   424864999   425096757   442358784   442671244   442697363   442722732   442747952   442772695
424278885   424589182   424865103   425096906   442359410   442671269   442697371   442722740   442747960   442772703
424279024   424589216   424865137   425096997   442359600   442671277   442697389   442722757   442747978   442772711
424279149   424589315   424865269   425097029   442360301   442671285   442697405   442722765   442747986   442772729
424279305   424589521   424865350   425097052   442360921   442671293   442697413   442722773   442747994   442772737
424279446   424589570   424865442   425097110   442360970   442671301   442697439   442722781   442748000   442772745
424279453   424589638   424865491   425097276   442361069   442671319   442697447   442722799   442748018   442772752
424279842   424589984   424865608   425097318   442361085   442671327   442697454   442722807   442748026   442772760
424280105   424590024   424865657   425097359   442361143   442671335   442697462   442722815   442748034   442772778
424280253   424590297   424865756   425097516   442361168   442671343   442697470   442722823   442748042   442772794
424280568   424590636   424865772   425097821   442361994   442671350   442697488   442722831   442748059   442772802
424280709   424590669   424865897   425097854   442362042   442671368   442697496   442722849   442748075   442772810
424280758   424590784   424865988   425097961   442362091   442671376   442697504   442722856   442748083   442772828
424280881   424590875   424866010   425098084   442362257   442671384   442697512   442722864   442748091   442772836
424281053   424591048   424866234   425098217   442362554   442671392   442697520   442722872   442748109   442772844
424281178   424591097   424866358   425098324   442362588   442671400   442697538   442722880   442748117   442772851
424281293   424591303   424866374   425098472   442362661   442671418   442697546   442722898   442748133   442772869
424281376   424591360   424866440   425098712   442363032   442671426   442697553   442722906   442748158   442772877
424281400   424591394   424866465   425098787   442363552   442671434   442697561   442722914   442748166   442772885
424281517   424591519   424866507   425098902   442364311   442671442   442697579   442722922   442748182   442772893
424281665   424591527   424866549   425099090   442364907   442671459   442697587   442722930   442748190   442772901

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442797080   442821864   442846606   442871034   442895421   442919700   442944013   442968087   442991865   443015581
442797106   442821872   442846614   442871042   442895439   442919718   442944021   442968095   442991873   443015599
442797114   442821880   442846622   442871059   442895447   442919726   442944039   442968103   442991881   443015607
442797122   442821898   442846630   442871067   442895454   442919734   442944047   442968111   442991899   443015615
442797130   442821906   442846648   442871075   442895462   442919742   442944054   442968129   442991907   443015623
442797148   442821914   442846655   442871083   442895470   442919759   442944062   442968137   442991915   443015631
442797155   442821922   442846663   442871091   442895488   442919767   442944070   442968145   442991923   443015649
442797163   442821930   442846671   442871109   442895496   442919775   442944088   442968152   442991931   443015656
442797171   442821948   442846689   442871117   442895504   442919783   442944096   442968160   442991949   443015664
442797189   442821955   442846697   442871125   442895512   442919791   442944104   442968178   442991956   443015672
442797197   442821963   442846705   442871133   442895520   442919809   442944112   442968186   442991964   443015680
442797205   442821989   442846713   442871141   442895538   442919825   442944120   442968194   442991972   443015698
442797213   442821997   442846721   442871158   442895546   442919833   442944138   442968202   442991980   443015714
442797221   442822003   442846739   442871166   442895553   442919841   442944146   442968210   442991998   443015722
442797239   442822011   442846747   442871174   442895561   442919858   442944161   442968228   442992004   443015730
442797247   442822029   442846754   442871182   442895579   442919866   442944179   442968236   442992012   443015748
442797254   442822037   442846762   442871190   442895587   442919874   442944187   442968244   442992020   443015755
442797262   442822045   442846770   442871208   442895595   442919882   442944195   442968251   442992038   443015763
442797270   442822052   442846788   442871216   442895603   442919890   442944203   442968269   442992046   443015771
442797288   442822060   442846796   442871224   442895611   442919908   442944211   442968285   442992053   443015789
442797296   442822078   442846812   442871232   442895629   442919916   442944229   442968293   442992061   443015797
442797304   442822086   442846820   442871240   442895637   442919924   442944237   442968301   442992079   443015805
442797312   442822094   442846838   442871257   442895645   442919940   442944245   442968319   442992087   443015813
442797320   442822102   442846846   442871265   442895652   442919957   442944252   442968327   442992095   443015821
442797338   442822110   442846853   442871273   442895660   442919965   442944260   442968335   442992103   443015839
442797346   442822128   442846861   442871281   442895678   442919973   442944278   442968343   442992111   443015847
442797353   442822136   442846879   442871299   442895686   442919999   442944286   442968350   442992129   443015854
442797361   442822144   442846887   442871307   442895694   442920005   442944294   442968368   442992137   443015862
442797379   442822151   442846895   442871315   442895702   442920013   442944302   442968376   442992145   443015870
442797387   442822169   442846903   442871323   442895710   442920021   442944310   442968384   442992152   443015888
442797395   442822177   442846911   442871331   442895728   442920039   442944328   442968392   442992160   443015896
442797403   442822185   442846929   442871349   442895736   442920047   442944336   442968400   442992178   443015904
442797411   442822201   442846937   442871364   442895744   442920054   442944344   442968418   442992186   443015912
442797429   442822219   442846945   442871372   442895751   442920062   442944351   442968426   442992194   443015920
442797437   442822227   442846952   442871380   442895769   442920070   442944369   442968434   442992202   443015938
442797445   442822235   442846960   442871398   442895777   442920088   442944377   442968442   442992210   443015946
442797452   442822250   442846978   442871406   442895785   442920096   442944385   442968459   442992228   443015953
442797460   442822268   442846986   442871414   442895793   442920104   442944393   442968467   442992236   443015961
442797478   442822276   442846994   442871422   442895801   442920112   442944401   442968475   442992244   443015979
442797494   442822284   442847000   442871430   442895819   442920120   442944419   442968483   442992251   443015987
442797502   442822292   442847018   442871448   442895827   442920146   442944427   442968491   442992269   443015995
442797510   442822300   442847026   442871455   442895835   442920153   442944435   442968509   442992277   443016001
442797528   442822318   442847034   442871463   442895843   442920179   442944443   442968517   442992285   443016019
442797536   442822326   442847042   442871471   442895850   442920187   442944450   442968525   442992293   443016027
442797544   442822334   442847059   442871489   442895868   442920195   442944468   442968533   442992301   443016035
442797551   442822342   442847067   442871497   442895876   442920203   442944476   442968541   442992319   443016043
442797569   442822359   442847075   442871505   442895884   442920211   442944484   442968558   442992327   443016050
442797577   442822367   442847083   442871513   442895892   442920229   442944492   442968566   442992335   443016068
442797585   442822375   442847091   442871521   442895900   442920237   442944500   442968574   442992343   443016076
442797593   442822383   442847109   442871539   442895918   442920245   442944526   442968582   442992350   443016084
442797601   442822391   442847117   442871547   442895926   442920252   442944534   442968590   442992368   443016092
442797619   442822409   442847125   442871554   442895934   442920278   442944542   442968608   442992376   443016100
442797627   442822417   442847133   442871562   442895942   442920286   442944559   442968616   442992384   443016118
442797643   442822425   442847141   442871570   442895959   442920294   442944567   442968624   442992392   443016126
442797650   442822433   442847158   442871588   442895967   442920302   442944575   442968632   442992400   443016134
442797668   442822441   442847166   442871596   442895975   442920310   442944583   442968640   442992418   443016142
442797676   442822466   442847174   442871604   442895983   442920328   442944591   442968657   442992426   443016159
442797684   442822474   442847182   442871612   442895991   442920336   442944609   442968665   442992434   443016167
442797692   442822482   442847190   442871620   442896007   442920344   442944617   442968673   442992442   443016175
442797700   442822490   442847208   442871638   442896015   442920351   442944625   442968681   442992459   443016183
442797718   442822508   442847216   442871646   442896023   442920369   442944633   442968699   442992467   443016191
442797726   442822516   442847224   442871653   442896031   442920377   442944641   442968707   442992475   443016209
442797734   442822524   442847232   442871661   442896049   442920385   442944658   442968715   442992483   443016217
442797742   442822532   442847240   442871679   442896056   442920393   442944666   442968723   442992491   443016225
442797759   442822540   442847257   442871687   442896064   442920401   442944674   442968731   442992509   443016233
442797775   442822557   442847265   442871695   442896072   442920419   442944682   442968749   442992517   443016241
442797783   442822565   442847281   442871703   442896080   442920427   442944690   442968756   442992525   443016258


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424281889   424591741   424867026   425099173   442365045   442671467   442697595   442722948   442748208   442772919
424281962   424591907   424867075   425099736   442365508   442671475   442697603   442722955   442748216   442772927
424281996   424591956   424867091   425099850   442365698   442671483   442697611   442722963   442748224   442772935
424282101   424592020   424867133   425099942   442366225   442671491   442697629   442722989   442748232   442772943
424282168   424592145   424867190   425100039   442367470   442671509   442697637   442722997   442748240   442772950
424282564   424592152   424867240   425100237   442368296   442671517   442697645   442723003   442748257   442772968
424282812   424592285   424867646   425100302   442368726   442671525   442697652   442723011   442748265   442772976
424282846   424592293   424867737   425100328   442368981   442671533   442697660   442723029   442748273   442772984
424282895   424592376   424867752   425100351   442369674   442671541   442697678   442723037   442748281   442772992
424283224   424592426   424867919   425100534   442369823   442671558   442697686   442723045   442748307   442773008
424283257   424592699   424867968   425100757   442372736   442671582   442697694   442723052   442748323   442773016
424283422   424592749   424868057   425100963   442373015   442671590   442697702   442723060   442748331   442773024
424283588   424592806   424868065   425100971   442373577   442671608   442697728   442723078   442748349   442773032
424283612   424592962   424868362   425100997   442373668   442671624   442697736   442723086   442748356   442773040
424283885   424593085   424868487   425101052   442373726   442671632   442697744   442723094   442748364   442773057
424284065   424593135   424868560   425101060   442373965   442671640   442697751   442723102   442748372   442773065
424284073   424593168   424868578   425101086   442375051   442671657   442697769   442723110   442748380   442773073
424284099   424593234   424868594   425101268   442375382   442671665   442697777   442723128   442748398   442773081
424284107   424593614   424868719   425101284   442376513   442671673   442697793   442723136   442748406   442773099
424284198   424593671   424868735   425101482   442376794   442671681   442697801   442723151   442748414   442773107
424284511   424593788   424868842   425101565   442376992   442671699   442697819   442723169   442748422   442773115
424284651   424593796   424868883   425101623   442377818   442671707   442697827   442723177   442748430   442773123
424284974   424594406   424869113   425101672   442378089   442671715   442697835   442723185   442748448   442773131
424285278   424594430   424869162   425101722   442378733   442671723   442697843   442723193   442748455   442773149
424285336   424594497   424869246   425101771   442379095   442671731   442697850   442723201   442748471   442773156
424285435   424594893   424869253   425101805   442379954   442671756   442697868   442723219   442748489   442773164
424285666   424594992   424869279   425101896   442380127   442671764   442697876   442723227   442748497   442773172
424285682   424595007   424869352   425102126   442382271   442671772   442697884   442723243   442748513   442773180
424285922   424595155   424869444   425102134   442382511   442671798   442697892   442723250   442748521   442773198
424285997   424595585   424869451   425102290   442382842   442671806   442697900   442723268   442748539   442773206
424286003   424595635   424869576   425102340   442382990   442671822   442697918   442723276   442748547   442773214
424286276   424595676   424869659   425102670   442383246   442671830   442697926   442723284   442748554   442773222
424286284   424595817   424869709   425102761   442383519   442671848   442697942   442723300   442748562   442773230
424286409   424596013   424869717   425102811   442383550   442671863   442697959   442723318   442748570   442773248
424286458   424596351   424869766   425102845   442383600   442671871   442697967   442723326   442748596   442773255
424286771   424596476   424869865   425102878   442383634   442671889   442697975   442723334   442748604   442773263
424287084   424596757   424869923   425102977   442383782   442671897   442697983   442723342   442748612   442773271
424287357   424596906   424870046   425103025   442384004   442671905   442697991   442723359   442748620   442773289
424287399   424597151   424870186   425103108   442384871   442671913   442698007   442723367   442748638   442773305
424287605   424597268   424870277   425103330   442385126   442671921   442698015   442723375   442748646   442773313
424287670   424597391   424870293   425103520   442385688   442671939   442698023   442723383   442748653   442773321
424287712   424597722   424870301   425103587   442386074   442671947   442698031   442723391   442748661   442773339
424287720   424597748   424870582   425103595   442386728   442671954   442698049   442723409   442748679   442773347
424287894   424597771   424870889   425103603   442386884   442671962   442698056   442723417   442748687   442773354
424288033   424597797   424871028   425103801   442387437   442671970   442698064   442723425   442748695   442773362
424288090   424597862   424871242   425103876   442387700   442671988   442698072   442723433   442748703   442773370
424288405   424597953   424871440   425103900   442388559   442671996   442698080   442723441   442748711   442773388
424288504   424598100   424871598   425103918   442388765   442672002   442698098   442723466   442748729   442773396
424288587   424598191   424871614   425103975   442389466   442672010   442698106   442723474   442748737   442773404
424288595   424598217   424871655   425104163   442390209   442672028   442698122   442723482   442748745   442773412
424288710   424598373   424871788   425104197   442390522   442672036   442698130   442723490   442748752   442773420
424288769   424598399   424871820   425104304   442391637   442672044   442698148   442723508   442748760   442773438
424288777   424598522   424871937   425104379   442391702   442672051   442698155   442723532   442748778   442773446
424288884   424598589   424872273   425104452   442391728   442672069   442698163   442723540   442748786   442773453
424289072   424598662   424872380   425104668   442391751   442672077   442698171   442723557   442748794   442773461
424289080   424598738   424872398   425104700   442391926   442672101   442698189   442723565   442748802   442773479
424289122   424598803   424872414   425104734   442392072   442672119   442698197   442723573   442748828   442773487
424289262   424599033   424872448   425104825   442392080   442672127   442698205   442723581   442748836   442773495
424289338   424599074   424872455   425104940   442392106   442672135   442698213   442723599   442748844   442773503
424289478   424599181   424872497   425105087   442393500   442672143   442698221   442723607   442748851   442773511
424289577   424599215   424872596   425105152   442393971   442672150   442698239   442723615   442748869   442773529
424289585   424599520   424872661   425105244   442394011   442672168   442698247   442723623   442748877   442773537
424289825   424599678   424872737   425105301   442394219   442672192   442698254   442723631   442748885   442773545
424290096   424599819   424872810   425105442   442394243   442672200   442698262   442723664   442748893   442773552
424290211   424600054   424872869   425105574   442394557   442672218   442698288   442723672   442748901   442773560
424290252   424600237   424872877   425105632   442394995   442672226   442698296   442723680   442748919   442773578
424290575   424600575   424873123   425105905   442395349   442672234   442698304   442723698   442748927   442773586

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442797791   442822573   442847299   442871711   442896098   442920435   442944708   442968764   442992533   443016266
442797809   442822581   442847307   442871729   442896106   442920443   442944716   442968772   442992541   443016274
442797817   442822599   442847315   442871737   442896114   442920450   442944724   442968780   442992558   443016282
442797833   442822615   442847323   442871745   442896122   442920468   442944732   442968798   442992566   443016290
442797841   442822623   442847331   442871752   442896130   442920476   442944740   442968806   442992574   443016308
442797858   442822631   442847349   442871760   442896155   442920484   442944757   442968814   442992582   443016316
442797866   442822649   442847356   442871778   442896163   442920492   442944765   442968822   442992590   443016324
442797874   442822656   442847364   442871786   442896171   442920500   442944773   442968830   442992608   443016332
442797882   442822664   442847372   442871794   442896189   442920518   442944781   442968848   442992616   443016340
442797890   442822672   442847380   442871802   442896197   442920526   442944799   442968855   442992624   443016357
442797908   442822698   442847398   442871810   442896205   442920534   442944807   442968863   442992632   443016365
442797916   442822706   442847406   442871828   442896213   442920542   442944815   442968871   442992640   443016373
442797924   442822714   442847414   442871836   442896221   442920559   442944823   442968889   442992657   443016381
442797932   442822722   442847422   442871844   442896239   442920567   442944831   442968897   442992665   443016399
442797940   442822748   442847430   442871851   442896247   442920575   442944849   442968905   442992673   443016407
442797957   442822755   442847448   442871869   442896254   442920583   442944856   442968913   442992681   443016415
442797965   442822763   442847455   442871877   442896262   442920591   442944864   442968921   442992699   443016423
442797973   442822771   442847463   442871885   442896270   442920609   442944872   442968939   442992707   443016431
442797999   442822789   442847471   442871893   442896288   442920617   442944880   442968947   442992715   443016449
442798005   442822797   442847489   442871901   442896296   442920625   442944898   442968954   442992723   443016456
442798013   442822805   442847497   442871919   442896304   442920633   442944906   442968962   442992731   443016464
442798021   442822813   442847505   442871927   442896312   442920641   442944914   442968970   442992749   443016472
442798039   442822821   442847513   442871935   442896320   442920658   442944922   442968988   442992756   443016480
442798047   442822839   442847521   442871943   442896338   442920666   442944930   442968996   442992764   443016498
442798054   442822847   442847539   442871950   442896346   442920674   442944948   442969002   442992772   443016506
442798062   442822854   442847547   442871968   442896353   442920682   442944955   442969010   442992780   443016514
442798070   442822888   442847554   442871976   442896361   442920690   442944963   442969028   442992798   443016522
442798088   442822904   442847562   442871984   442896379   442920708   442944971   442969036   442992806   443016530
442798096   442822912   442847570   442871992   442896387   442920716   442944989   442969044   442992814   443016548
442798104   442822920   442847588   442872008   442896395   442920724   442944997   442969051   442992822   443016555
442798112   442822938   442847596   442872016   442896403   442920732   442945002   442969069   442992830   443016563
442798120   442822946   442847604   442872024   442896411   442920740   442945010   442969077   442992848   443016571
442798138   442822953   442847612   442872032   442896429   442920757   442945028   442969085   442992855   443016589
442798146   442822961   442847620   442872040   442896437   442920765   442945036   442969093   442992863   443016597
442798153   442822979   442847638   442872057   442896445   442920773   442945044   442969101   442992871   443016605
442798161   442822987   442847646   442872065   442896452   442920781   442945051   442969119   442992889   443016613
442798179   442822995   442847653   442872073   442896460   442920799   442945069   442969127   442992897   443016621
442798187   442823001   442847661   442872081   442896478   442920807   442945077   442969135   442992905   443016639
442798195   442823019   442847679   442872099   442896486   442920815   442945085   442969143   442992913   443016647
442798203   442823027   442847687   442872107   442896494   442920823   442945093   442969150   442992921   443016654
442798211   442823035   442847695   442872115   442896502   442920831   442945101   442969168   442992939   443016662
442798229   442823043   442847703   442872123   442896510   442920849   442945119   442969176   442992947   443016688
442798237   442823050   442847711   442872131   442896528   442920856   442945127   442969184   442992954   443016696
442798245   442823068   442847729   442872149   442896536   442920864   442945135   442969192   442992962   443016704
442798252   442823076   442847737   442872156   442896544   442920872   442945143   442969200   442992970   443016712
442798260   442823084   442847745   442872164   442896551   442920880   442945150   442969218   442992988   443016720
442798278   442823092   442847752   442872172   442896569   442920898   442945168   442969226   442992996   443016738
442798286   442823100   442847760   442872180   442896577   442920906   442945176   442969234   442993002   443016746
442798294   442823118   442847778   442872198   442896585   442920914   442945184   442969242   442993010   443016753
442798302   442823126   442847786   442872206   442896593   442920922   442945192   442969259   442993028   443016761
442798310   442823134   442847794   442872214   442896601   442920930   442945200   442969267   442993036   443016787
442798328   442823142   442847802   442872222   442896619   442920948   442945218   442969275   442993044   443016795
442798336   442823159   442847810   442872230   442896627   442920955   442945226   442969283   442993051   443016803
442798344   442823167   442847828   442872248   442896635   442920963   442945234   442969291   442993069   443016811
442798351   442823175   442847836   442872255   442896643   442920971   442945242   442969309   442993077   443016829
442798369   442823183   442847844   442872263   442896668   442920989   442945259   442969317   442993085   443016837
442798377   442823191   442847851   442872271   442896676   442920997   442945267   442969325   442993093   443016845
442798385   442823209   442847869   442872289   442896684   442921003   442945275   442969333   442993101   443016852
442798393   442823217   442847877   442872297   442896692   442921011   442945283   442969341   442993119   443016860
442798401   442823225   442847885   442872305   442896700   442921029   442945291   442969358   442993127   443016878
442798419   442823233   442847893   442872313   442896718   442921037   442945309   442969366   442993135   443016886
442798427   442823241   442847901   442872321   442896726   442921052   442945317   442969374   442993143   443016894
442798435   442823258   442847919   442872339   442896734   442921060   442945325   442969382   442993150   443016902
442798443   442823266   442847927   442872347   442896742   442921078   442945333   442969390   442993168   443016910
442798450   442823274   442847935   442872354   442896759   442921086   442945341   442969408   442993176   443016928
442798468   442823282   442847943   442872362   442896767   442921094   442945358   442969416   442993184   443016936
442798476   442823290   442847950   442872370   442896775   442921102   442945366   442969424   442993192   443016944


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424290625   424600724   424873149   425105954   442395679   442672242   442698320   442723706   442748935   442773594
424290633   424600922   424873198   425106036   442396578   442672259   442698338   442723714   442748943   442773610
424290757   424601771   424873248   425106127   442398111   442672267   442698346   442723722   442748950   442773628
424290781   424601953   424873255   425106192   442398426   442672275   442698353   442723730   442748976   442773636
424290872   424602050   424873263   425106283   442398517   442672283   442698361   442723748   442748984   442773644
424291128   424602241   424873537   425106291   442398616   442672291   442698379   442723755   442748992   442773651
424291177   424602464   424873594   425106366   442399291   442672309   442698387   442723763   442749008   442773669
424291185   424602498   424873602   425106507   442399432   442672317   442698395   442723771   442749016   442773677
424291235   424602704   424873750   425106648   442399648   442672325   442698403   442723789   442749024   442773685
424291458   424603058   424874147   425106747   442399937   442672333   442698411   442723797   442749032   442773693
424291482   424603116   424874196   425106846   442400040   442672341   442698429   442723805   442749040   442773701
424291730   424603132   424874204   425106879   442400099   442672358   442698445   442723813   442749057   442773719
424291763   424603249   424874329   425106903   442400263   442672366   442698460   442723821   442749065   442773727
424291862   424603330   424874345   425107117   442400727   442672374   442698478   442723839   442749073   442773735
424291938   424603355   424874360   425107216   442401162   442672382   442698486   442723847   442749081   442773743
424292704   424603389   424874410   425107240   442401865   442672390   442698494   442723854   442749099   442773750
424292738   424603496   424874501   425107364   442402129   442672408   442698502   442723862   442749107   442773768
424293389   424603595   424874535   425107398   442402988   442672416   442698510   442723870   442749115   442773776
424293439   424603686   424874576   425107588   442403028   442672424   442698528   442723888   442749123   442773784
424294031   424603991   424874865   425107612   442403317   442672432   442698536   442723896   442749131   442773792
424294122   424604031   424874931   425107638   442403440   442672440   442698551   442723904   442749149   442773818
424294296   424604049   424875110   425107653   442403689   442672457   442698569   442723912   442749156   442773826
424294452   424604254   424875201   425107752   442404679   442672465   442698577   442723920   442749164   442773834
424294478   424604312   424875300   425107786   442404687   442672473   442698585   442723938   442749172   442773842
424294494   424604395   424875375   425107950   442405049   442672481   442698593   442723946   442749180   442773859
424294742   424604411   424875383   425108016   442405619   442672499   442698601   442723953   442749198   442773867
424294783   424604684   424876068   425108024   442405791   442672507   442698627   442723961   442749206   442773875
424294965   424604783   424876175   425108123   442405858   442672515   442698635   442723979   442749214   442773883
424295426   424605145   424876191   425108289   442405866   442672523   442698643   442723987   442749222   442773891
424295657   424605392   424876241   425108362   442406823   442672531   442698650   442723995   442749230   442773909
424295764   424605665   424876290   425108511   442406831   442672556   442698668   442724001   442749248   442773917
424295897   424605772   424876415   425108552   442407110   442672564   442698676   442724019   442749255   442773925
424296259   424605780   424876423   425108560   442409058   442672572   442698684   442724027   442749271   442773933
424296341   424606028   424876456   425108628   442409223   442672580   442698692   442724035   442749289   442773941
424296465   424606135   424876605   425108719   442409561   442672598   442698700   442724043   442749297   442773958
424296580   424606259   424876654   425108743   442410437   442672606   442698718   442724068   442749305   442773966
424296622   424606408   424876712   425108933   442410734   442672614   442698734   442724084   442749313   442773974
424296697   424606507   424876753   425109238   442411120   442672622   442698742   442724092   442749321   442773982
424296739   424606531   424877025   425109345   442412490   442672630   442698759   442724100   442749339   442773990
424297109   424606739   424877249   425109360   442413076   442672648   442698767   442724118   442749347   442774006
424297190   424606861   424877397   425109410   442414165   442672655   442698775   442724126   442749354   442774014
424297539   424606945   424877439   425109501   442414504   442672663   442698783   442724134   442749362   442774022
424297588   424607091   424877579   425109527   442414702   442672671   442698791   442724142   442749370   442774030
424297752   424607109   424877629   425109535   442415766   442672689   442698809   442724159   442749388   442774048
424297786   424607174   424877660   425109576   442415998   442672697   442698817   442724167   442749396   442774055
424297802   424607182   424877819   425109618   442416632   442672705   442698825   442724175   442749404   442774063
424297919   424607281   424878049   425109667   442416996   442672713   442698833   442724183   442749412   442774071
424297984   424607422   424878189   425109709   442417242   442672721   442698841   442724191   442749420   442774097
424298354   424607596   424878338   425109915   442417374   442672739   442698858   442724209   442749438   442774105
424298412   424607885   424878361   425110145   442417531   442672747   442698874   442724217   442749446   442774113
424298453   424607901   424878379   425110293   442417770   442672754   442698882   442724233   442749453   442774121
424299428   424607935   424878395   425110301   442418190   442672762   442698890   442724241   442749461   442774139
424299527   424608016   424878510   425110350   442418588   442672770   442698908   442724258   442749487   442774147
424299733   424608214   424878544   425110483   442418646   442672788   442698916   442724266   442749495   442774154
424299899   424608388   424878643   425110574   442419479   442672796   442698924   442724274   442749503   442774162
424299980   424608487   424878908   425110921   442419990   442672804   442698932   442724282   442749511   442774170
424300291   424608826   424878981   425110939   442420089   442672812   442698940   442724290   442749529   442774188
424300432   424608842   424879211   425110970   442420436   442672820   442698957   442724308   442749537   442774196
424300895   424608982   424879336   425111135   442421954   442672838   442698965   442724324   442749545   442774204
424300978   424608990   424879591   425111150   442422028   442672846   442698973   442724332   442749552   442774212
424301117   424609410   424879641   425111333   442422044   442672853   442698981   442724340   442749560   442774220
424301331   424609519   424879757   425111408   442423166   442672861   442698999   442724357   442749578   442774238
424301620   424609600   424879773   425111465   442423380   442672879   442699005   442724373   442749586   442774246
424301786   424609816   424879864   425111556   442423844   442672887   442699013   442724381   442749594   442774253
424301950   424609956   424880235   425111572   442423935   442672895   442699021   442724399   442749602   442774261
424302131   424609998   424880276   425111994   442424131   442672911   442699039   442724407   442749610   442774279
424302149   424610038   424880284   425112075   442425559   442672929   442699047   442724415   442749628   442774287

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442798484   442823308   442847968   442872388   442896783   442921110   442945374   442969432   442993200   443016951
442798492   442823316   442847976   442872396   442896791   442921128   442945382   442969440   442993218   443016969
442798500   442823324   442847984   442872404   442896809   442921136   442945390   442969457   442993226   443016977
442798518   442823332   442847992   442872412   442896817   442921144   442945408   442969465   442993234   443016985
442798526   442823340   442848008   442872420   442896825   442921151   442945416   442969473   442993242   443016993
442798534   442823357   442848016   442872438   442896833   442921169   442945424   442969481   442993259   443017009
442798542   442823365   442848024   442872446   442896841   442921177   442945432   442969499   442993267   443017017
442798559   442823373   442848032   442872453   442896858   442921185   442945440   442969507   442993275   443017025
442798567   442823381   442848040   442872461   442896866   442921193   442945457   442969515   442993283   443017033
442798575   442823399   442848057   442872479   442896874   442921201   442945465   442969523   442993291   443017041
442798583   442823407   442848073   442872487   442896882   442921219   442945473   442969531   442993309   443017058
442798591   442823415   442848081   442872495   442896890   442921227   442945481   442969549   442993317   443017066
442798609   442823431   442848099   442872503   442896908   442921235   442945499   442969556   442993325   443017074
442798617   442823449   442848107   442872511   442896916   442921243   442945515   442969564   442993333   443017082
442798625   442823456   442848115   442872529   442896924   442921250   442945523   442969572   442993341   443017090
442798633   442823464   442848123   442872537   442896932   442921268   442945531   442969580   442993358   443017108
442798641   442823472   442848131   442872545   442896940   442921284   442945549   442969598   442993366   443017116
442798658   442823480   442848149   442872552   442896957   442921292   442945556   442969606   442993374   443017124
442798666   442823498   442848156   442872560   442896965   442921300   442945564   442969614   442993382   443017132
442798674   442823506   442848164   442872578   442896973   442921326   442945572   442969622   442993390   443017140
442798682   442823514   442848172   442872586   442896981   442921334   442945580   442969630   442993408   443017157
442798690   442823522   442848180   442872594   442896999   442921342   442945598   442969648   442993416   443017165
442798708   442823530   442848198   442872602   442897005   442921359   442945606   442969655   442993424   443017173
442798716   442823548   442848206   442872610   442897013   442921367   442945622   442969663   442993432   443017181
442798724   442823555   442848214   442872628   442897021   442921375   442945648   442969671   442993440   443017199
442798732   442823563   442848222   442872636   442897039   442921383   442945655   442969689   442993457   443017207
442798740   442823571   442848230   442872644   442897047   442921391   442945663   442969697   442993465   443017215
442798757   442823589   442848255   442872651   442897054   442921409   442945671   442969705   442993473   443017223
442798765   442823597   442848263   442872669   442897062   442921417   442945697   442969713   442993481   443017231
442798773   442823605   442848271   442872677   442897070   442921425   442945705   442969721   442993499   443017249
442798781   442823613   442848289   442872685   442897096   442921433   442945713   442969739   442993507   443017256
442798799   442823621   442848297   442872693   442897104   442921441   442945721   442969747   442993515   443017264
442798807   442823639   442848305   442872701   442897112   442921458   442945739   442969754   442993523   443017272
442798815   442823647   442848313   442872719   442897120   442921466   442945747   442969762   442993531   443017280
442798823   442823654   442848321   442872727   442897138   442921474   442945754   442969770   442993549   443017298
442798831   442823662   442848339   442872735   442897146   442921482   442945762   442969788   442993556   443017306
442798849   442823670   442848347   442872743   442897153   442921490   442945770   442969796   442993564   443017314
442798856   442823688   442848354   442872750   442897161   442921508   442945788   442969804   442993572   443017322
442798864   442823696   442848362   442872768   442897179   442921516   442945796   442969812   442993580   443017330
442798872   442823704   442848370   442872776   442897187   442921524   442945804   442969820   442993598   443017348
442798880   442823712   442848388   442872784   442897195   442921532   442945812   442969838   442993606   443017355
442798898   442823720   442848396   442872792   442897203   442921540   442945820   442969846   442993614   443017363
442798906   442823738   442848404   442872800   442897211   442921557   442945838   442969853   442993622   443017371
442798914   442823746   442848412   442872818   442897229   442921565   442945846   442969861   442993630   443017389
442798922   442823753   442848420   442872826   442897237   442921573   442945853   442969879   442993648   443017397
442798930   442823761   442848438   442872834   442897245   442921581   442945861   442969887   442993655   443017405
442798948   442823779   442848446   442872842   442897252   442921599   442945879   442969895   442993663   443017413
442798955   442823787   442848453   442872859   442897278   442921607   442945887   442969903   442993671   443017421
442798963   442823795   442848461   442872867   442897286   442921615   442945895   442969911   442993689   443017439
442798971   442823803   442848479   442872875   442897294   442921623   442945903   442969929   442993697   443017447
442798989   442823811   442848487   442872883   442897302   442921631   442945911   442969937   442993705   443017454
442798997   442823829   442848495   442872891   442897310   442921649   442945929   442969945   442993713   443017462
442799003   442823837   442848503   442872909   442897328   442921656   442945937   442969960   442993721   443017470
442799011   442823845   442848511   442872917   442897336   442921664   442945945   442969978   442993739   443017488
442799029   442823852   442848537   442872925   442897344   442921672   442945952   442969986   442993747   443017496
442799037   442823878   442848545   442872933   442897351   442921680   442945960   442969994   442993754   443017504
442799045   442823886   442848552   442872941   442897369   442921698   442945978   442970000   442993762   443017512
442799052   442823894   442848560   442872958   442897377   442921706   442945986   442970018   442993770   443017520
442799060   442823902   442848578   442872966   442897385   442921714   442945994   442970026   442993788   443017538
442799078   442823910   442848586   442872974   442897393   442921722   442946000   442970034   442993796   443017546
442799086   442823928   442848594   442872982   442897401   442921730   442946018   442970042   442993804   443017553
442799094   442823936   442848602   442872990   442897419   442921755   442946026   442970059   442993812   443017561
442799110   442823944   442848610   442873006   442897427   442921763   442946034   442970067   442993820   443017579
442799128   442823951   442848628   442873014   442897435   442921771   442946042   442970075   442993838   443017587
442799136   442823969   442848636   442873022   442897443   442921789   442946059   442970083   442993846   443017595
442799144   442823977   442848644   442873030   442897450   442921797   442946067   442970091   442993853   443017603
442799151   442823985   442848651   442873048   442897468   442921805   442946075   442970109   442993861   443017611


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424302263   424610160   424880342   425112174   442426755   442672937   442699054   442724431   442749636   442774295
424302578   424610426   424880383   425112190   442426789   442672945   442699062   442724449   442749644   442774303
424302636   424610616   424880417   425112315   442426839   442672960   442699070   442724456   442749669   442774311
424302974   424610632   424880474   425112356   442426870   442672978   442699088   442724464   442749677   442774329
424303006   424610749   424880516   425112364   442426953   442672986   442699096   442724472   442749685   442774337
424303105   424610822   424880607   425112422   442427159   442672994   442699104   442724480   442749693   442774345
424303428   424610947   424880672   425112497   442427654   442673018   442699112   442724498   442749701   442774352
424303477   424611192   424880680   425112653   442428074   442673026   442699120   442724506   442749719   442774360
424303501   424611523   424880821   425112901   442430153   442673034   442699138   442724514   442749727   442774378
424303592   424611960   424880862   425112927   442431334   442673042   442699146   442724522   442749735   442774386
424303618   424612182   424880946   425112976   442432548   442673059   442699153   442724530   442749743   442774394
424303824   424612240   424881118   425113156   442432563   442673067   442699161   442724548   442749750   442774402
424304020   424612729   424881209   425113271   442433058   442673075   442699179   442724555   442749768   442774410
424304038   424612810   424881316   425113289   442433363   442673083   442699187   442724563   442749776   442774428
424304228   424612851   424881373   425113503   442433546   442673091   442699195   442724571   442749792   442774436
424304384   424613628   424881464   425113586   442434056   442673109   442699203   442724589   442749800   442774444
424304467   424613644   424881696   425113685   442434866   442673117   442699211   442724597   442749818   442774451
424304749   424613743   424881712   425113727   442434957   442673125   442699229   442724605   442749826   442774469
424305118   424613768   424881894   425113743   442434999   442673133   442699237   442724613   442749842   442774477
424305175   424613800   424882033   425113818   442437125   442673158   442699245   442724621   442749867   442774485
424305472   424614048   424882082   425113958   442437307   442673166   442699252   442724639   442749875   442774493
424305555   424614188   424882215   425113966   442438149   442673174   442699260   442724647   442749883   442774519
424305605   424614238   424882462   425114055   442438735   442673182   442699278   442724654   442749891   442774527
424305720   424614261   424882579   425114121   442438826   442673190   442699286   442724662   442749909   442774535
424305811   424614295   424882983   425114584   442438842   442673208   442699294   442724670   442749917   442774543
424306082   424614428   424882991   425114634   442439048   442673216   442699302   442724688   442749925   442774550
424306108   424614501   424883130   425114790   442439121   442673224   442699310   442724696   442749933   442774568
424306199   424614519   424883338   425114899   442440152   442673240   442699328   442724704   442749941   442774576
424306215   424614758   424883700   425114972   442440491   442673257   442699336   442724712   442749958   442774584
424306488   424614832   424883718   425115037   442441002   442673265   442699344   442724720   442749966   442774592
424306538   424614857   424883742   425115094   442441622   442673273   442699351   442724738   442749974   442774600
424306546   424615011   424883825   425115185   442441721   442673299   442699369   442724746   442749982   442774618
424306785   424615029   424884195   425115250   442441739   442673307   442699377   442724753   442749990   442774626
424306975   424615318   424884245   425115391   442441770   442673315   442699385   442724761   442750006   442774659
424307395   424615391   424884278   425115623   442442083   442673323   442699401   442724787   442750014   442774667
424307452   424615490   424884500   425115672   442443958   442673331   442699419   442724795   442750022   442774675
424307643   424615631   424884799   425115938   442444089   442673349   442699427   442724803   442750030   442774683
424307742   424615698   424885184   425115953   442444329   442673364   442699435   442724811   442750048   442774691
424307841   424615748   424885358   425115987   442444824   442673380   442699443   442724829   442750055   442774709
424308088   424616076   424885366   425116217   442445201   442673398   442699450   442724837   442750063   442774717
424308203   424616381   424885374   425116274   442445219   442673406   442699484   442724845   442750071   442774725
424308377   424616423   424885382   425116308   442445714   442673414   442699492   442724852   442750089   442774741
424308385   424616456   424885572   425116423   442446076   442673422   442699500   442724860   442750097   442774758
424308641   424616704   424885663   425116852   442446506   442673430   442699526   442724878   442750105   442774766
424308732   424616837   424885705   425116928   442446910   442673448   442699534   442724886   442750113   442774774
424308781   424617116   424885754   425116993   442447090   442673455   442699542   442724894   442750121   442774782
424309326   424617272   424886109   425117066   442447520   442673463   442699559   442724902   442750139   442774790
424309573   424617363   424886133   425117215   442447611   442673471   442699567   442724910   442750147   442774808
424309599   424617397   424886141   425117280   442447744   442673497   442699575   442724928   442750154   442774816
424309748   424618031   424886182   425117462   442447801   442673505   442699583   442724936   442750162   442774824
424309797   424618171   424886190   425117538   442447934   442673513   442699591   442724944   442750170   442774832
424309839   424618239   424886299   425117553   442448023   442673521   442699609   442724951   442750188   442774840
424309953   424618346   424886372   425117637   442448775   442673539   442699617   442724977   442750196   442774865
424310068   424618361   424886703   425117686   442449088   442673547   442699625   442724985   442750204   442774873
424310282   424618692   424886968   425117769   442449138   442673562   442699633   442724993   442750212   442774881
424310381   424618882   424887057   425117793   442449773   442673570   442699641   442725008   442750220   442774899
424310423   424619005   424887263   425117801   442451076   442673596   442699658   442725016   442750238   442774907
424310456   424619039   424887404   425117843   442451530   442673604   442699666   442725024   442750246   442774915
424310670   424619088   424887446   425117900   442451738   442673612   442699674   442725032   442750253   442774923
424311025   424619385   424887495   425118007   442452348   442673620   442699682   442725040   442750261   442774931
424311041   424619575   424887677   425118015   442452488   442673638   442699690   442725057   442750279   442774949
424311108   424619633   424887784   425118239   442452934   442673646   442699708   442725065   442750287   442774956
424311298   424619765   424887800   425118320   442453478   442673653   442699716   442725073   442750295   442774964
424311348   424619930   424887842   425118353   442454732   442673661   442699732   442725081   442750303   442774972
424311488   424619971   424887982   425118395   442454971   442673679   442699740   442725099   442750311   442774980
424311512   424620102   424888048   425118452   442455127   442673687   442699757   442725107   442750329   442774998
424311876   424620334   424888055   425118858   442455226   442673695   442699765   442725115   442750337   442775003

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442799169   442823993   442848669   442873055   442897476   442921813   442946083   442970117   442993879   443017629
442799177   442824009   442848677   442873063   442897484   442921821   442946091   442970125   442993887   443017637
442799185   442824017   442848685   442873071   442897492   442921839   442946109   442970133   442993895   443017645
442799193   442824025   442848693   442873089   442897500   442921847   442946117   442970141   442993903   443017652
442799201   442824033   442848701   442873097   442897518   442921854   442946125   442970158   442993911   443017660
442799219   442824041   442848719   442873105   442897526   442921862   442946133   442970166   442993929   443017678
442799235   442824058   442848727   442873113   442897534   442921888   442946141   442970174   442993937   443017686
442799243   442824066   442848735   442873121   442897542   442921896   442946158   442970182   442993945   443017694
442799250   442824074   442848743   442873139   442897559   442921904   442946166   442970190   442993952   443017702
442799268   442824082   442848750   442873147   442897567   442921912   442946174   442970208   442993960   443017710
442799276   442824090   442848768   442873154   442897575   442921920   442946182   442970216   442993978   443017728
442799284   442824108   442848776   442873162   442897583   442921938   442946190   442970224   442993986   443017736
442799292   442824116   442848784   442873170   442897591   442921946   442946208   442970232   442993994   443017744
442799300   442824124   442848792   442873188   442897609   442921953   442946216   442970240   442994000   443017751
442799318   442824132   442848800   442873196   442897617   442921961   442946224   442970257   442994018   443017769
442799326   442824140   442848818   442873204   442897625   442921979   442946232   442970265   442994026   443017777
442799334   442824157   442848826   442873212   442897633   442921987   442946240   442970273   442994034   443017785
442799342   442824165   442848834   442873220   442897641   442921995   442946257   442970281   442994042   443017793
442799359   442824173   442848842   442873238   442897658   442922001   442946265   442970299   442994059   443017801
442799367   442824181   442848859   442873246   442897666   442922019   442946273   442970307   442994067   443017819
442799375   442824199   442848867   442873253   442897674   442922027   442946281   442970315   442994075   443017827
442799383   442824207   442848875   442873261   442897682   442922035   442946299   442970323   442994083   443017835
442799391   442824215   442848883   442873279   442897690   442922043   442946307   442970331   442994091   443017843
442799409   442824223   442848891   442873287   442897708   442922050   442946315   442970349   442994109   443017850
442799417   442824231   442848909   442873295   442897716   442922068   442946323   442970356   442994117   443017868
442799425   442824249   442848917   442873303   442897724   442922076   442946331   442970364   442994125   443017876
442799433   442824256   442848925   442873311   442897732   442922084   442946349   442970372   442994133   443017884
442799441   442824264   442848933   442873329   442897740   442922092   442946356   442970380   442994141   443017892
442799458   442824272   442848941   442873337   442897757   442922118   442946364   442970398   442994158   443017900
442799466   442824280   442848958   442873345   442897765   442922126   442946372   442970406   442994166   443017918
442799482   442824298   442848966   442873352   442897773   442922134   442946380   442970414   442994174   443017926
442799490   442824306   442848974   442873360   442897781   442922142   442946398   442970422   442994182   443017934
442799508   442824314   442848982   442873378   442897799   442922159   442946406   442970430   442994190   443017942
442799516   442824322   442848990   442873386   442897807   442922167   442946414   442970448   442994208   443017959
442799524   442824330   442849006   442873394   442897815   442922175   442946422   442970455   442994216   443017967
442799532   442824355   442849014   442873402   442897823   442922183   442946430   442970463   442994224   443017975
442799540   442824363   442849022   442873410   442897831   442922191   442946448   442970471   442994232   443017983
442799557   442824371   442849030   442873428   442897849   442922209   442946455   442970489   442994240   443017991
442799565   442824389   442849048   442873436   442897856   442922217   442946463   442970497   442994257   443018007
442799573   442824397   442849055   442873444   442897864   442922225   442946471   442970505   442994265   443018015
442799581   442824405   442849063   442873469   442897872   442922233   442946489   442970513   442994273   443018023
442799599   442824413   442849071   442873477   442897880   442922241   442946497   442970521   442994281   443018031
442799607   442824421   442849089   442873485   442897898   442922258   442946505   442970539   442994299   443018049
442799615   442824439   442849097   442873493   442897906   442922266   442946521   442970547   442994307   443018056
442799623   442824447   442849105   442873501   442897914   442922274   442946539   442970554   442994315   443018064
442799631   442824454   442849113   442873519   442897922   442922282   442946547   442970562   442994323   443018072
442799649   442824462   442849121   442873535   442897930   442922290   442946554   442970570   442994331   443018080
442799656   442824470   442849139   442873543   442897948   442922308   442946562   442970588   442994349   443018098
442799664   442824488   442849147   442873550   442897955   442922316   442946570   442970596   442994356   443018106
442799672   442824496   442849154   442873568   442897963   442922324   442946588   442970604   442994372   443018114
442799680   442824504   442849162   442873576   442897971   442922332   442946596   442970612   442994380   443018122
442799698   442824512   442849170   442873584   442897989   442922340   442946604   442970620   442994398   443018130
442799706   442824520   442849188   442873592   442897997   442922357   442946612   442970638   442994406   443018148
442799714   442824538   442849196   442873600   442898003   442922365   442946620   442970646   442994414   443018155
442799722   442824546   442849204   442873618   442898011   442922373   442946638   442970653   442994422   443018163
442799730   442824553   442849212   442873626   442898029   442922381   442946646   442970661   442994430   443018171
442799748   442824561   442849220   442873634   442898037   442922399   442946653   442970679   442994448   443018189
442799755   442824579   442849238   442873642   442898045   442922407   442946661   442970687   442994455   443018197
442799763   442824587   442849246   442873659   442898052   442922415   442946679   442970695   442994463   443018205
442799771   442824595   442849253   442873667   442898060   442922423   442946687   442970703   442994471   443018213
442799789   442824603   442849261   442873675   442898078   442922431   442946695   442970711   442994489   443018221
442799797   442824611   442849279   442873683   442898094   442922449   442946703   442970729   442994497   443018239
442799805   442824629   442849287   442873691   442898102   442922456   442946711   442970737   442994505   443018247
442799813   442824637   442849295   442873709   442898110   442922464   442946729   442970745   442994513   443018254
442799821   442824645   442849303   442873717   442898128   442922480   442946737   442970752   442994521   443018262
442799839   442824652   442849311   442873725   442898136   442922498   442946745   442970760   442994539   443018270
442799847   442824660   442849329   442873733   442898144   442922506   442946752   442970778   442994547   443018288


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424312007   424620433   424888170   425118882   442456075   442673703   442699773   442725123   442750345   442775011
424312122   424620458   424888311   425119252   442457313   442673711   442699799   442725131   442750352   442775029
424312395   424620540   424888329   425119492   442460275   442673729   442699807   442725149   442750360   442775037
424312569   424620623   424888436   425119864   442461372   442673737   442699815   442725164   442750378   442775045
424312791   424620722   424888550   425119922   442462008   442673745   442699823   442725172   442750386   442775052
424312833   424621209   424888634   425119955   442462123   442673752   442699831   442725180   442750394   442775060
424312858   424621274   424888675   425119971   442462164   442673760   442699849   442725206   442750402   442775078
424312932   424621332   424888709   425120177   442464301   442673778   442699856   442725214   442750428   442775086
424313328   424621381   424888766   425120219   442464756   442673786   442699864   442725222   442750436   442775102
424313344   424621407   424889020   425120235   442465357   442673794   442699872   442725230   442750444   442775110
424313393   424621571   424889087   425120367   442467072   442673802   442699880   442725248   442750451   442775128
424313559   424621613   424889178   425120417   442468013   442673810   442699898   442725255   442750469   442775136
424313732   424621795   424889186   425120458   442468682   442673828   442699906   442725263   442750477   442775144
424313757   424621803   424889202   425120466   442469268   442673836   442699914   442725271   442750485   442775151
424313781   424622025   424889210   425120722   442469623   442673844   442699922   442725289   442750493   442775169
424313849   424622165   424889301   425120755   442469649   442673851   442699930   442725297   442750501   442775177
424313864   424622439   424889327   425120821   442470753   442673869   442699948   442725305   442750519   442775185
424314011   424622504   424889335   425120862   442470936   442673877   442699955   442725313   442750527   442775193
424314490   424622777   424889384   425121035   442472684   442673885   442699963   442725321   442750535   442775201
424314540   424623056   424889392   425121159   442473104   442673893   442699971   442725339   442750543   442775219
424314607   424623213   424889434   425121183   442473401   442673901   442699989   442725347   442750550   442775227
424314615   424623239   424889483   425121266   442475125   442673919   442699997   442725354   442750568   442775243
424314656   424623411   424889582   425121472   442476222   442673927   442700001   442725370   442750576   442775250
424314797   424623817   424889905   425121514   442476230   442673935   442700019   442725388   442750584   442775268
424315232   424623924   424889921   425121639   442476990   442673943   442700027   442725396   442750592   442775276
424315463   424624021   424889947   425121647   442477279   442673950   442700035   442725404   442750600   442775284
424315521   424624047   424890200   425121720   442477402   442673968   442700043   442725412   442750618   442775292
424315877   424624443   424890218   425121852   442477816   442673976   442700050   442725420   442750626   442775300
424315992   424624500   424890275   425121936   442478509   442673984   442700076   442725438   442750634   442775318
424316180   424624609   424890390   425121977   442479952   442673992   442700084   442725446   442750642   442775326
424316388   424624674   424890416   425122009   442481099   442674008   442700092   442725453   442750659   442775334
424316545   424624849   424890440   425122033   442481917   442674016   442700100   442725487   442750667   442775342
424316586   424624997   424890499   425122058   442482469   442674024   442700118   442725495   442750675   442775359
424316610   424625002   424890523   425122165   442484408   442674032   442700126   442725503   442750683   442775367
424316768   424625044   424890549   425122330   442484879   442674040   442700134   442725511   442750691   442775375
424317154   424625093   424890713   425122348   442485652   442674065   442700142   442725529   442750709   442775383
424317212   424625317   424890770   425122355   442486353   442674073   442700159   442725537   442750717   442775391
424317386   424625721   424890812   425122363   442488052   442674081   442700167   442725545   442750725   442775409
424317626   424625762   424891018   425122421   442488060   442674099   442700175   442725552   442750733   442775417
424317634   424625812   424891067   425122579   442489316   442674107   442700183   442725560   442750741   442775425
424317790   424625838   424891075   425122603   442489506   442674115   442700191   442725578   442750758   442775433
424318202   424626018   424891083   425122801   442490710   442674123   442700209   442725586   442750766   442775441
424318343   424626083   424891190   425122843   442491064   442674131   442700217   442725594   442750782   442775458
424318541   424626174   424891380   425122918   442491379   442674149   442700225   442725602   442750790   442775466
424318798   424626208   424891471   425122934   442491767   442674156   442700233   442725610   442750808   442775474
424319077   424626315   424891497   425122975   442492153   442674172   442700241   442725628   442750816   442775482
424319143   424626398   424891604   425123148   442492591   442674180   442700258   442725636   442750824   442775490
424319176   424626547   424891737   425123239   442494183   442674198   442700266   442725644   442750840   442775508
424319242   424626661   424891786   425123247   442494647   442674206   442700274   442725651   442750857   442775516
424319564   424626877   424891950   425123262   442496808   442674214   442700282   442725669   442750865   442775532
424319614   424627214   424892057   425123288   442497681   442674222   442700290   442725677   442750881   442775540
424319689   424627354   424892099   425123312   442497723   442674248   442700308   442725685   442750899   442775557
424319697   424627578   424892248   425123346   442498051   442674255   442700316   442725693   442750907   442775565
424319887   424627842   424892347   425123429   442498424   442674263   442700324   442725701   442750915   442775573
424319929   424627990   424892412   425123585   442498648   442674271   442700332   442725719   442750923   442775581
424320141   424628097   424892487   425123734   442499943   442674289   442700340   442725727   442750931   442775599
424320158   424628345   424892503   425123775   442500690   442674297   442700357   442725735   442750956   442775607
424320240   424628584   424892560   425123817   442501318   442674305   442700365   442725743   442750964   442775615
424320273   424628592   424892594   425123973   442502456   442674313   442700373   442725750   442750972   442775623
424320323   424628600   424892644   425124153   442502902   442674321   442700381   442725768   442750980   442775631
424320349   424628618   424892891   425124237   442503439   442674339   442700399   442725776   442750998   442775649
424320422   424628840   424892933   425124476   442503942   442674347   442700407   442725784   442751004   442775656
424320455   424629202   424892941   425124633   442504262   442674354   442700415   442725792   442751012   442775664
424320463   424629210   424892966   425124773   442506051   442674362   442700423   442725818   442751020   442775672
424320489   424629590   424893030   425124872   442506374   442674370   442700449   442725826   442751038   442775680
424320695   424629632   424893048   425124922   442507943   442674388   442700456   442725834   442751046   442775698
424320711   424629657   424893055   425124955   442508164   442674404   442700464   442725842   442751053   442775706

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442799870   442824678   442849337   442873741   442898151   442922514   442946760   442970786   442994554   443018296
442799888   442824694   442849345   442873758   442898169   442922522   442946778   442970794   442994562   443018312
442799896   442824702   442849352   442873766   442898177   442922530   442946786   442970802   442994570   443018338
442799904   442824710   442849360   442873774   442898193   442922548   442946802   442970810   442994588   443018346
442799912   442824728   442849378   442873782   442898201   442922555   442946810   442970828   442994596   443018353
442799938   442824736   442849386   442873790   442898219   442922563   442946836   442970836   442994604   443018361
442799946   442824744   442849394   442873808   442898227   442922571   442946844   442970844   442994612   443018379
442799953   442824751   442849402   442873816   442898235   442922589   442946851   442970851   442994620   443018387
442799961   442824769   442849410   442873824   442898243   442922597   442946869   442970869   442994638   443018395
442799979   442824777   442849428   442873832   442898250   442922605   442946877   442970877   442994646   443018403
442799987   442824785   442849444   442873840   442898268   442922613   442946885   442970885   442994653   443018411
442799995   442824793   442849451   442873857   442898276   442922621   442946893   442970893   442994661   443018429
442800009   442824801   442849469   442873865   442898284   442922639   442946901   442970901   442994679   443018437
442800017   442824819   442849477   442873873   442898292   442922647   442946919   442970919   442994687   443018445
442800033   442824827   442849485   442873881   442898300   442922654   442946927   442970927   442994695   443018452
442800041   442824835   442849493   442873899   442898318   442922662   442946935   442970935   442994703   443018460
442800058   442824843   442849501   442873907   442898326   442922670   442946943   442970943   442994711   443018478
442800066   442824850   442849519   442873915   442898334   442922688   442946950   442970950   442994729   443018486
442800074   442824868   442849527   442873923   442898342   442922696   442946968   442970968   442994737   443018494
442800082   442824876   442849535   442873931   442898359   442922704   442946976   442970976   442994745   443018502
442800090   442824884   442849543   442873949   442898367   442922712   442946984   442970984   442994752   443018510
442800108   442824892   442849568   442873956   442898375   442922738   442947008   442970992   442994760   443018528
442800116   442824900   442849576   442873964   442898391   442922746   442947016   442971008   442994778   443018536
442800124   442824918   442849584   442873972   442898409   442922753   442947024   442971016   442994786   443018544
442800132   442824934   442849592   442873980   442898417   442922761   442947032   442971024   442994794   443018551
442800140   442824942   442849600   442873998   442898425   442922779   442947040   442971032   442994802   443018569
442800157   442824959   442849618   442874004   442898433   442922787   442947057   442971040   442994810   443018577
442800165   442824967   442849626   442874012   442898441   442922795   442947065   442971057   442994828   443018585
442800173   442824975   442849634   442874020   442898458   442922803   442947073   442971065   442994836   443018593
442800181   442824983   442849642   442874038   442898466   442922811   442947081   442971073   442994844   443018601
442800199   442824991   442849659   442874046   442898474   442922829   442947099   442971081   442994851   443018619
442800207   442825006   442849667   442874053   442898482   442922837   442947107   442971099   442994869   443018627
442800215   442825014   442849675   442874061   442898490   442922845   442947115   442971107   442994877   443018635
442800223   442825022   442849691   442874079   442898508   442922852   442947123   442971115   442994885   443018643
442800231   442825030   442849709   442874087   442898516   442922860   442947131   442971123   442994893   443018650
442800249   442825048   442849725   442874095   442898524   442922878   442947149   442971131   442994901   443018668
442800256   442825055   442849733   442874103   442898532   442922886   442947156   442971149   442994919   443018676
442800264   442825063   442849741   442874111   442898540   442922894   442947164   442971156   442994927   443018684
442800272   442825071   442849766   442874129   442898557   442922902   442947172   442971164   442994935   443018692
442800280   442825089   442849774   442874137   442898565   442922910   442947180   442971172   442994943   443018700
442800298   442825097   442849782   442874145   442898573   442922928   442947198   442971180   442994950   443018718
442800306   442825105   442849790   442874152   442898581   442922936   442947206   442971198   442994968   443018726
442800314   442825113   442849808   442874160   442898599   442922944   442947214   442971206   442994976   443018734
442800322   442825121   442849816   442874178   442898607   442922951   442947222   442971214   442994984   443018742
442800348   442825147   442849824   442874186   442898615   442922969   442947230   442971222   442994992   443018759
442800355   442825154   442849832   442874194   442898623   442922977   442947248   442971230   442995007   443018767
442800363   442825162   442849857   442874202   442898631   442922985   442947255   442971248   442995015   443018775
442800371   442825170   442849865   442874210   442898649   442922993   442947263   442971255   442995023   443018783
442800389   442825188   442849873   442874228   442898656   442923009   442947271   442971263   442995031   443018809
442800397   442825196   442849881   442874236   442898664   442923033   442947289   442971271   442995049   443018817
442800405   442825204   442849899   442874251   442898672   442923041   442947297   442971289   442995056   443018825
442800421   442825212   442849907   442874269   442898680   442923058   442947305   442971305   442995064   443018833
442800439   442825220   442849915   442874285   442898698   442923066   442947313   442971313   442995072   443018841
442800447   442825238   442849931   442874293   442898706   442923074   442947321   442971321   442995080   443018858
442800454   442825246   442849949   442874301   442898714   442923082   442947339   442971339   442995098   443018866
442800462   442825253   442849956   442874319   442898722   442923090   442947347   442971347   442995106   443018874
442800470   442825261   442849964   442874327   442898730   442923108   442947354   442971354   442995114   443018882
442800496   442825279   442849972   442874335   442898748   442923116   442947362   442971362   442995122   443018890
442800512   442825287   442849980   442874343   442898755   442923124   442947370   442971370   442995130   443018908
442800520   442825295   442849998   442874350   442898763   442923132   442947388   442971388   442995148   443018916
442800546   442825303   442850004   442874368   442898771   442923140   442947396   442971396   442995155   443018924
442800553   442825311   442850012   442874376   442898789   442923157   442947404   442971404   442995163   443018932
442800561   442825329   442850020   442874384   442898797   442923165   442947412   442971412   442995171   443018940
442800579   442825337   442850038   442874392   442898805   442923173   442947420   442971420   442995189   443018957
442800587   442825345   442850046   442874400   442898813   442923181   442947438   442971438   442995197   443018965
442800603   442825352   442850053   442874418   442898821   442923199   442947446   442971446   442995205   443018973
442800611   442825360   442850061   442874426   442898847   442923207   442947453   442971453   442995213   443018981


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424320828   424629764   424893089   425124997   442508370   442674412   442700472   442725859   442751061   442775714
424320950   424629806   424893121   425125192   442509170   442674420   442700480   442725867   442751079   442775722
424321073   424629848   424893170   425125382   442509311   442674438   442700498   442725875   442751087   442775748
424321321   424629863   424893329   425125606   442509618   442674446   442700506   442725883   442751095   442775755
424321339   424629889   424893477   425125614   442510004   442674461   442700514   442725891   442751103   442775763
424321800   424629913   424893667   425125630   442510624   442674479   442700522   442725909   442751111   442775771
424322378   424629947   424893949   425125697   442511135   442674487   442700530   442725917   442751129   442775789
424322618   424629954   424893964   425125747   442511895   442674495   442700548   442725925   442751137   442775797
424323178   424629962   424894038   425125895   442511911   442674503   442700555   442725933   442751145   442775805
424324069   424630127   424894327   425125903   442512224   442674511   442700563   442725941   442751152   442775813
424324135   424630135   424894426   425126125   442512521   442674529   442700571   442725958   442751160   442775821
424324358   424630283   424894434   425126133   442512687   442674537   442700589   442725966   442751178   442775839
424324598   424630366   424894541   425126174   442513123   442674552   442700597   442725974   442751186   442775847
424324614   424630374   424894640   425126323   442513149   442674560   442700605   442725982   442751194   442775854
424324663   424630440   424894699   425126406   442513347   442674578   442700613   442725990   442751202   442775862
424324739   424630499   424894871   425126448   442514212   442674594   442700621   442726006   442751210   442775870
424324754   424630549   424894939   425126471   442514444   442674610   442700639   442726014   442751228   442775888
424325314   424630564   424894996   425126513   442514576   442674628   442700647   442726022   442751236   442775896
424325330   424630630   424895050   425126604   442515326   442674636   442700654   442726030   442751244   442775904
424325389   424630788   424895159   425126711   442516472   442674644   442700662   442726048   442751251   442775912
424325462   424630960   424895175   425126885   442516571   442674651   442700670   442726055   442751269   442775920
424325538   424631000   424895258   425126943   442517454   442674677   442700688   442726063   442751277   442775938
424325819   424631083   424895506   425127024   442519187   442674685   442700696   442726071   442751285   442775946
424325991   424631125   424895571   425127065   442519401   442674693   442700704   442726089   442751293   442775953
424326312   424631133   424895738   425127164   442520136   442674701   442700712   442726097   442751319   442775961
424326569   424631208   424895761   425127313   442521027   442674719   442700720   442726105   442751327   442775979
424327138   424631596   424895779   425127404   442521282   442674727   442700738   442726113   442751335   442775987
424327302   424631679   424895795   425127503   442521746   442674735   442700746   442726121   442751343   442776001
424327310   424631745   424895837   425127529   442522686   442674743   442700753   442726139   442751350   442776019
424327344   424631752   424895845   425127537   442522991   442674750   442700761   442726147   442751368   442776027
424327641   424631869   424895852   425127552   442523387   442674768   442700779   442726154   442751384   442776035
424327724   424631976   424895910   425127610   442523437   442674776   442700795   442726162   442751392   442776050
424327740   424632040   424896033   425127693   442524211   442674784   442700803   442726170   442751418   442776068
424327880   424632107   424896124   425127842   442524385   442674792   442700811   442726188   442751426   442776076
424327971   424632297   424896132   425127891   442524898   442674800   442700829   442726196   442751434   442776084
424328227   424632339   424896355   425128154   442525127   442674818   442700837   442726204   442751442   442776092
424328367   424632354   424896405   425128162   442525515   442674826   442700845   442726212   442751459   442776100
424328391   424632362   424896678   425128279   442525598   442674842   442700852   442726220   442751467   442776118
424328425   424632370   424896769   425128329   442526174   442674859   442700860   442726238   442751475   442776126
424328482   424632404   424896934   425128394   442527040   442674867   442700878   442726246   442751483   442776134
424328581   424632446   424896967   425128444   442528345   442674875   442700886   442726253   442751491   442776142
424328821   424632552   424897015   425128477   442528451   442674883   442700902   442726279   442751509   442776167
424328961   424632594   424897064   425128501   442529483   442674891   442700910   442726287   442751517   442776175
424329381   424632628   424897106   425128550   442533550   442674917   442700928   442726295   442751525   442776183
424329399   424632701   424897270   425128642   442534814   442674925   442700936   442726303   442751533   442776191
424329688   424632750   424897312   425128683   442534905   442674933   442700944   442726311   442751541   442776209
424329928   424632768   424897528   425128717   442535654   442674941   442700951   442726329   442751558   442776217
424329951   424632982   424897601   425128766   442536876   442674958   442700969   442726337   442751566   442776225
424329977   424633063   424897650   425128832   442539847   442674966   442700977   442726345   442751574   442776233
424330462   424633212   424897817   425129186   442540779   442674974   442700985   442726352   442751582   442776241
424330694   424633360   424897973   425129285   442540837   442674982   442700993   442726360   442751590   442776258
424330793   424633444   424898146   425129319   442540969   442674990   442701009   442726378   442751608   442776266
424331247   424633469   424898476   425129426   442541405   442675005   442701017   442726386   442751616   442776274
424331254   424633543   424898740   425129467   442541926   442675021   442701033   442726394   442751624   442776282
424331312   424633709   424898781   425129533   442542114   442675039   442701041   442726402   442751632   442776290
424331700   424633881   424898815   425129632   442542692   442675047   442701058   442726410   442751640   442776308
424331916   424633964   424898971   425129640   442543724   442675054   442701066   442726428   442751657   442776316
424331965   424634129   424899011   425129749   442543955   442675062   442701074   442726436   442751665   442776324
424332021   424634178   424899094   425129962   442544714   442675070   442701082   442726451   442751673   442776340
424332070   424634343   424899268   425130184   442544870   442675088   442701090   442726469   442751681   442776357
424332229   424634806   424899367   425130200   442545174   442675096   442701108   442726477   442751699   442776365
424332435   424634814   424899649   425130259   442545596   442675104   442701116   442726485   442751707   442776373
424332799   424635001   424899706   425130283   442547089   442675112   442701124   442726493   442751715   442776381
424333078   424635068   424899714   425130309   442547253   442675120   442701132   442726501   442751723   442776399
424333151   424635514   424899813   425130515   442548384   442675138   442701140   442726519   442751731   442776407
424333276   424635597   424899862   425130572   442549176   442675146   442701157   442726527   442751749   442776415
424333508   424635779   424899953   425130614   442550984   442675153   442701165   442726543   442751756   442776423

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442800637   442825378   442850079   442874434   442898854   442923215   442947461   442971461   442995221   443018999
442800645   442825386   442850087   442874442   442898862   442923223   442947479   442971479   442995239   443019005
442800652   442825394   442850095   442874459   442898870   442923231   442947487   442971487   442995247   443019013
442800660   442825402   442850103   442874467   442898888   442923249   442947495   442971495   442995254   443019021
442800678   442825410   442850111   442874475   442898904   442923256   442947503   442971503   442995262   443019039
442800686   442825436   442850129   442874483   442898912   442923264   442947511   442971511   442995270   443019047
442800694   442825444   442850137   442874491   442898920   442923272   442947529   442971529   442995288   443019054
442800702   442825451   442850145   442874509   442898938   442923280   442947537   442971537   442995296   443019062
442800710   442825469   442850152   442874517   442898946   442923298   442947545   442971545   442995304   443019070
442800728   442825477   442850160   442874525   442898953   442923306   442947552   442971552   442995312   443019088
442800736   442825485   442850178   442874533   442898979   442923314   442947560   442971560   442995320   443019096
442800744   442825493   442850194   442874541   442898987   442923322   442947578   442971578   442995338   443019104
442800751   442825501   442850202   442874558   442898995   442923330   442947586   442971586   442995346   443019112
442800769   442825519   442850210   442874566   442899001   442923348   442947594   442971594   442995353   443019120
442800777   442825527   442850228   442874574   442899019   442923355   442947610   442971602   442995361   443019138
442800785   442825535   442850236   442874582   442899027   442923363   442947628   442971610   442995379   443019146
442800793   442825543   442850244   442874590   442899035   442923371   442947636   442971628   442995387   443019153
442800801   442825550   442850251   442874608   442899043   442923389   442947644   442971636   442995395   443019161
442800819   442825568   442850269   442874616   442899050   442923397   442947651   442971644   442995403   443019179
442800835   442825576   442850277   442874624   442899068   442923405   442947669   442971651   442995411   443019187
442800843   442825584   442850285   442874632   442899084   442923413   442947677   442971669   442995429   443019195
442800850   442825592   442850293   442874640   442899092   442923421   442947685   442971677   442995437   443019203
442800868   442825600   442850301   442874657   442899100   442923439   442947693   442971685   442995445   443019211
442800876   442825618   442850319   442874665   442899118   442923447   442947701   442971693   442995452   443019229
442800884   442825626   442850327   442874673   442899126   442923454   442947719   442971701   442995460   443019237
442800892   442825634   442850335   442874681   442899134   442923462   442947727   442971719   442995478   443019245
442800900   442825642   442850343   442874699   442899142   442923470   442947735   442971727   442995486   443019252
442800918   442825659   442850350   442874707   442899159   442923488   442947743   442971735   442995494   443019260
442800926   442825667   442850368   442874715   442899167   442923496   442947750   442971743   442995502   443019278
442800934   442825675   442850376   442874723   442899175   442923504   442947768   442971750   442995510   443019286
442800942   442825683   442850384   442874731   442899183   442923512   442947776   442971768   442995528   443019294
442800959   442825691   442850392   442874749   442899191   442923520   442947784   442971776   442995536   443019302
442800967   442825709   442850400   442874756   442899209   442923538   442947792   442971784   442995544   443019310
442800975   442825717   442850418   442874764   442899217   442923546   442947800   442971792   442995551   443019328
442800983   442825725   442850442   442874772   442899225   442923553   442947818   442971800   442995569   443019336
442800991   442825733   442850459   442874780   442899241   442923561   442947826   442971818   442995577   443019344
442801007   442825741   442850467   442874798   442899258   442923579   442947834   442971826   442995585   443019351
442801015   442825758   442850475   442874806   442899266   442923587   442947842   442971834   442995593   443019369
442801023   442825766   442850483   442874814   442899274   442923595   442947859   442971842   442995601   443019377
442801031   442825774   442850491   442874822   442899282   442923603   442947867   442971859   442995619   443019385
442801049   442825782   442850509   442874830   442899290   442923611   442947875   442971867   442995627   443019393
442801056   442825790   442850525   442874848   442899308   442923629   442947883   442971875   442995635   443019401
442801064   442825808   442850533   442874855   442899316   442923637   442947891   442971883   442995643   443019419
442801072   442825816   442850541   442874863   442899324   442923645   442947909   442971891   442995650   443019427
442801080   442825824   442850558   442874871   442899332   442923652   442947917   442971909   442995668   443019435
442801098   442825832   442850566   442874889   442899340   442923660   442947925   442971917   442995676   443019443
442801106   442825840   442850574   442874897   442899357   442923678   442947933   442971925   442995684   443019450
442801114   442825857   442850582   442874905   442899365   442923686   442947941   442971933   442995692   443019468
442801122   442825865   442850590   442874913   442899373   442923694   442947958   442971941   442995700   443019476
442801130   442825873   442850608   442874921   442899381   442923702   442947966   442971958   442995718   443019484
442801155   442825881   442850616   442874939   442899399   442923710   442947974   442971966   442995726   443019492
442801163   442825899   442850624   442874947   442899407   442923728   442947982   442971974   442995734   443019500
442801171   442825907   442850632   442874954   442899415   442923736   442947990   442971982   442995742   443019518
442801189   442825915   442850640   442874962   442899423   442923744   442948006   442971990   442995759   443019526
442801197   442825923   442850657   442874970   442899431   442923751   442948014   442972006   442995767   443019534
442801205   442825949   442850665   442874988   442899449   442923769   442948022   442972014   442995775   443019542
442801213   442825956   442850673   442874996   442899456   442923777   442948030   442972022   442995783   443019559
442801221   442825964   442850681   442875001   442899464   442923785   442948048   442972030   442995791   443019567
442801239   442825972   442850699   442875019   442899472   442923793   442948055   442972048   442995809   443019575
442801254   442825980   442850707   442875027   442899480   442923819   442948063   442972055   442995817   443019583
442801262   442825998   442850715   442875035   442899498   442923827   442948071   442972063   442995825   443019591
442801270   442826004   442850723   442875043   442899506   442923835   442948097   442972071   442995833   443019609
442801288   442826012   442850731   442875050   442899514   442923843   442948105   442972089   442995841   443019617
442801296   442826020   442850749   442875068   442899522   442923850   442948113   442972097   442995858   443019625
442801304   442826038   442850764   442875076   442899530   442923868   442948121   442972105   442995866   443019633
442801312   442826046   442850772   442875084   442899548   442923876   442948139   442972121   442995874   443019641
442801320   442826053   442850780   442875092   442899555   442923884   442948147   442972139   442995882   443019658


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424333565   424635803   424899995   425130622   442551172   442675161   442701173   442726550   442751764   442776431
424333573   424635829   424900066   425130671   442551396   442675179   442701181   442726568   442751772   442776449
424333607   424635886   424900132   425130697   442551651   442675187   442701199   442726576   442751780   442776464
424334068   424636025   424900140   425130747   442552543   442675195   442701207   442726584   442751798   442776472
424334076   424636223   424900249   425130788   442552782   442675203   442701215   442726592   442751806   442776480
424334399   424636249   424900413   425130812   442553111   442675211   442701223   442726600   442751814   442776498
424334894   424636538   424900546   425130838   442553665   442675229   442701249   442726618   442751822   442776506
424335255   424636652   424900652   425130937   442553897   442675237   442701256   442726626   442751830   442776514
424335289   424636777   424900736   425131000   442554275   442675245   442701264   442726642   442751848   442776530
424335552   424636827   424900785   425131059   442554986   442675252   442701272   442726659   442751863   442776548
424335818   424637155   424900850   425131075   442555678   442675260   442701280   442726667   442751871   442776563
424335909   424637304   424900942   425131133   442556148   442675278   442701306   442726675   442751889   442776571
424336147   424637536   424901007   425131216   442556494   442675286   442701314   442726683   442751897   442776597
424336352   424637759   424901023   425131224   442557294   442675294   442701322   442726709   442751905   442776605
424336493   424637783   424901148   425131232   442557542   442675302   442701330   442726717   442751913   442776613
424336774   424637882   424901304   425131323   442557864   442675310   442701348   442726725   442751921   442776621
424336881   424637940   424901338   425131448   442558896   442675351   442701355   442726733   442751939   442776639
424336949   424638088   424901544   425131505   442558987   442675369   442701363   442726741   442751947   442776647
424336956   424638153   424901569   425131554   442559142   442675377   442701371   442726758   442751954   442776654
424337236   424638237   424901601   425131596   442559290   442675385   442701389   442726766   442751962   442776662
424337335   424638336   424901809   425131869   442559597   442675393   442701397   442726774   442751970   442776670
424337558   424638591   424901858   425131877   442559738   442675401   442701405   442726782   442751988   442776688
424337780   424638625   424901874   425131885   442560272   442675419   442701413   442726790   442751996   442776696
424337863   424638641   424902120   425132164   442560413   442675435   442701421   442726808   442752002   442776704
424338135   424638724   424902203   425132206   442560744   442675443   442701447   442726816   442752010   442776712
424338192   424638963   424902237   425132297   442561692   442675468   442701454   442726824   442752028   442776720
424338234   424639029   424902385   425132313   442562716   442675476   442701462   442726832   442752036   442776738
424338242   424639045   424902534   425132347   442562799   442675484   442701470   442726840   442752044   442776746
424338309   424639227   424902542   425132479   442562864   442675492   442701496   442726857   442752051   442776761
424338655   424639243   424902708   425132529   442563714   442675518   442701504   442726865   442752069   442776779
424338697   424639714   424903011   425132727   442563946   442675526   442701512   442726873   442752077   442776787
424338705   424639813   424903102   425132792   442565420   442675534   442701520   442726881   442752085   442776795
424338788   424640084   424903169   425133154   442565974   442675542   442701538   442726899   442752093   442776811
424338812   424640209   424903482   425133196   442566139   442675559   442701546   442726907   442752101   442776829
424338853   424640308   424903540   425133394   442566402   442675567   442701553   442726915   442752119   442776837
424338887   424640373   424903581   425133485   442566618   442675575   442701561   442726923   442752127   442776852
424338986   424640522   424903631   425133717   442567509   442675583   442701579   442726931   442752135   442776860
424339018   424640605   424903748   425134046   442567632   442675591   442701587   442726949   442752143   442776878
424339208   424640696   424903789   425134053   442568580   442675609   442701603   442726964   442752150   442776886
424339349   424640753   424904167   425134087   442569273   442675617   442701611   442726972   442752168   442776894
424339455   424640779   424904274   425134111   442569414   442675625   442701629   442726980   442752176   442776902
424339539   424641132   424904282   425134319   442569554   442675633   442701637   442726998   442752184   442776910
424339604   424641330   424904662   425134368   442569687   442675641   442701645   442727004   442752192   442776936
424339778   424641520   424904894   425134400   442569802   442675666   442701652   442727012   442752200   442776944
424339927   424641546   424905008   425134509   442571378   442675674   442701660   442727020   442752218   442776951
424339935   424641561   424905057   425134533   442571741   442675682   442701678   442727038   442752226   442776969
424340107   424641637   424905198   425134566   442572582   442675690   442701686   442727046   442752234   442776977
424340206   424641793   424905214   425134574   442572947   442675708   442701694   442727053   442752242   442776985
424340859   424641942   424905230   425134590   442573234   442675716   442701702   442727061   442752259   442776993
424341055   424642338   424905255   425134665   442574661   442675724   442701710   442727079   442752267   442777009
424341139   424642387   424905545   425134707   442574703   442675740   442701728   442727087   442752275   442777017
424341196   424642395   424905743   425134806   442575080   442675757   442701736   442727095   442752283   442777025
424341246   424642437   424905768   425134871   442575163   442675765   442701744   442727103   442752291   442777033
424341287   424642510   424905784   425134962   442575312   442675773   442701751   442727111   442752309   442777041
424341352   424642593   424905867   425134970   442575379   442675781   442701769   442727129   442752317   442777058
424341360   424642619   424905883   425135001   442575411   442675799   442701777   442727137   442752325   442777066
424341386   424642627   424906121   425135100   442576260   442675807   442701793   442727145   442752333   442777074
424341709   424642874   424906162   425135183   442576377   442675815   442701801   442727152   442752341   442777082
424341774   424642973   424906170   425135225   442576401   442675831   442701819   442727160   442752358   442777108
424341782   424643138   424906261   425135340   442576484   442675849   442701827   442727178   442752366   442777116
424341857   424643195   424906287   425135522   442576781   442675856   442701835   442727186   442752374   442777124
424341923   424643229   424906410   425135654   442577359   442675864   442701843   442727194   442752382   442777132
424341949   424643328   424906436   425135670   442577573   442675872   442701850   442727202   442752390   442777140
424341964   424643385   424906519   425135753   442577995   442675880   442701868   442727210   442752408   442777157
424342046   424643427   424906527   425135977   442578035   442675914   442701876   442727228   442752416   442777165
424342087   424643492   424906626   425136017   442578076   442675922   442701884   442727236   442752424   442777173
424342160   424643500   424906832   425136058   442578621   442675930   442701892   442727244   442752432   442777181

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442801338   442826061   442850798   442875100   442899563   442923892   442948154   442972154   442995890   443019666
442801346   442826079   442850806   442875118   442899571   442923900   442948162   442972162   442995908   443019682
442801353   442826087   442850822   442875126   442899589   442923918   442948170   442972170   442995916   443019690
442801361   442826095   442850848   442875134   442899597   442923926   442948188   442972188   442995924   443019708
442801379   442826103   442850863   442875142   442899605   442923934   442948196   442972196   442995932   443019716
442801387   442826111   442850871   442875159   442899613   442923942   442948204   442972204   442995940   443019724
442801395   442826129   442850889   442875167   442899639   442923959   442948212   442972212   442995957   443019732
442801403   442826137   442850897   442875175   442899647   442923967   442948220   442972220   442995965   443019740
442801411   442826145   442850905   442875183   442899654   442923975   442948238   442972238   442995973   443019757
442801429   442826152   442850913   442875191   442899662   442923983   442948246   442972246   442995981   443019765
442801437   442826160   442850921   442875209   442899670   442923991   442948253   442972253   442995999   443019773
442801445   442826178   442850939   442875217   442899688   442924007   442948261   442972261   442996005   443019781
442801452   442826186   442850947   442875225   442899696   442924015   442948279   442972279   442996013   443019799
442801460   442826194   442850954   442875233   442899704   442924023   442948287   442972287   442996021   443019807
442801478   442826202   442850962   442875241   442899712   442924031   442948295   442972295   442996039   443019823
442801486   442826210   442850970   442875258   442899720   442924049   442948303   442972303   442996047   443019831
442801494   442826228   442850988   442875266   442899738   442924056   442948311   442972311   442996054   443019849
442801502   442826236   442850996   442875274   442899746   442924064   442948329   442972329   442996062   443019856
442801510   442826244   442851002   442875282   442899753   442924072   442948337   442972337   442996070   443019864
442801528   442826251   442851010   442875290   442899761   442924080   442948345   442972345   442996088   443019872
442801536   442826269   442851028   442875308   442899787   442924098   442948352   442972352   442996096   443019880
442801544   442826277   442851036   442875316   442899795   442924106   442948360   442972360   442996104   443019898
442801551   442826285   442851051   442875324   442899803   442924114   442948378   442972378   442996112   443019906
442801569   442826293   442851069   442875332   442899811   442924122   442948386   442972386   442996120   443019914
442801577   442826301   442851077   442875340   442899829   442924130   442948394   442972394   442996138   443019922
442801585   442826319   442851085   442875357   442899837   442924148   442948402   442972402   442996146   443019930
442801593   442826327   442851093   442875365   442899845   442924155   442948410   442972410   442996153   443019948
442801601   442826335   442851101   442875373   442899852   442924163   442948428   442972428   442996161   443019955
442801619   442826343   442851119   442875381   442899860   442924171   442948436   442972436   442996179   443019963
442801627   442826350   442851127   442875399   442899878   442924189   442948444   442972444   442996187   443019971
442801635   442826368   442851135   442875407   442899886   442924197   442948451   442972451   442996195   443019989
442801643   442826376   442851143   442875415   442899894   442924205   442948469   442972469   442996203   443019997
442801650   442826384   442851150   442875423   442899902   442924213   442948477   442972477   442996211   443020003
442801668   442826400   442851168   442875431   442899910   442924221   442948485   442972485   442996229   443020011
442801676   442826418   442851176   442875449   442899928   442924239   442948493   442972493   442996237   443020029
442801684   442826426   442851184   442875456   442899936   442924247   442948501   442972501   442996245   443020037
442801692   442826434   442851192   442875464   442899944   442924254   442948519   442972519   442996252   443020045
442801700   442826442   442851200   442875472   442899951   442924262   442948527   442972527   442996260   443020052
442801718   442826459   442851218   442875480   442899969   442924270   442948535   442972535   442996278   443020060
442801726   442826467   442851226   442875498   442899977   442924288   442948543   442972543   442996286   443020078
442801734   442826475   442851234   442875506   442899985   442924296   442948550   442972550   442996294   443020086
442801742   442826483   442851242   442875514   442899993   442924304   442948568   442972568   442996302   443020094
442801759   442826491   442851259   442875522   442900007   442924312   442948576   442972576   442996310   443020102
442801767   442826509   442851267   442875530   442900015   442924320   442948584   442972584   442996328   443020110
442801775   442826517   442851275   442875548   442900023   442924338   442948592   442972592   442996336   443020128
442801791   442826525   442851283   442875555   442900031   442924346   442948600   442972600   442996344   443020136
442801809   442826533   442851291   442875563   442900049   442924353   442948618   442972618   442996351   443020144
442801817   442826541   442851309   442875571   442900056   442924361   442948626   442972626   442996369   443020151
442801833   442826558   442851317   442875589   442900072   442924379   442948634   442972634   442996377   443020169
442801841   442826566   442851325   442875597   442900080   442924387   442948642   442972642   442996385   443020177
442801858   442826574   442851333   442875605   442900098   442924395   442948659   442972659   442996393   443020185
442801866   442826582   442851341   442875613   442900106   442924403   442948667   442972667   442996401   443020193
442801874   442826590   442851358   442875621   442900114   442924411   442948675   442972675   442996419   443020201
442801882   442826608   442851366   442875639   442900122   442924429   442948683   442972683   442996427   443020219
442801890   442826616   442851374   442875647   442900130   442924437   442948691   442972709   442996435   443020227
442801908   442826624   442851382   442875654   442900148   442924445   442948709   442972717   442996443   443020235
442801916   442826632   442851390   442875662   442900155   442924452   442948717   442972725   442996450   443020243
442801924   442826640   442851408   442875670   442900163   442924460   442948725   442972733   442996468   443020250
442801932   442826665   442851416   442875688   442900171   442924478   442948733   442972741   442996476   443020268
442801940   442826673   442851424   442875696   442900189   442924486   442948741   442972758   442996484   443020276
442801957   442826681   442851432   442875704   442900197   442924494   442948758   442972766   442996492   443020284
442801965   442826699   442851440   442875712   442900205   442924502   442948766   442972774   442996500   443020292
442801973   442826707   442851457   442875720   442900213   442924510   442948774   442972782   442996518   443020300
442801981   442826715   442851465   442875738   442900221   442924528   442948782   442972790   442996526   443020318
442801999   442826723   442851473   442875746   442900247   442924536   442948790   442972808   442996534   443020326
442802005   442826731   442851481   442875753   442900254   442924544   442948808   442972816   442996542   443020334
442802013   442826756   442851499   442875761   442900262   442924551   442948816   442972824   442996559   443020342


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424342186   424643930   424906873   425136066   442578753   442675948   442701926   442727251   442752440   442777199
424342244   424643955   424906881   425136256   442579280   442675955   442701934   442727269   442752457   442777207
424342681   424643963   424906907   425136298   442579744   442675971   442701942   442727277   442752465   442777215
424342749   424644425   424906931   425136330   442580031   442675989   442701959   442727285   442752481   442777223
424342780   424644441   424906998   425136603   442583167   442675997   442701967   442727293   442752499   442777231
424343143   424644581   424907038   425136645   442583449   442676003   442701975   442727301   442752507   442777249
424343176   424644789   424907079   425136678   442585550   442676011   442701983   442727319   442752515   442777256
424343374   424644821   424907319   425136777   442585717   442676029   442701991   442727327   442752523   442777264
424343648   424644896   424907343   425136900   442586053   442676037   442702007   442727335   442752531   442777272
424343937   424645133   424907376   425136934   442586236   442676045   442702015   442727343   442752549   442777280
424344059   424645307   424907384   425136975   442586285   442676052   442702023   442727350   442752564   442777298
424344224   424645356   424907533   425137049   442586400   442676060   442702031   442727368   442752572   442777306
424344273   424645513   424907608   425137056   442586657   442676078   442702056   442727376   442752580   442777314
424344745   424645653   424907731   425137197   442587267   442676086   442702064   442727392   442752606   442777322
424344935   424645661   424907889   425137288   442587317   442676094   442702072   442727400   442752614   442777330
424345270   424645810   424907954   425137304   442587390   442676102   442702080   442727418   442752622   442777348
424345296   424646149   424908002   425137320   442587523   442676128   442702098   442727426   442752630   442777355
424345635   424646214   424908010   425137353   442587887   442676136   442702106   442727434   442752648   442777363
424345692   424646594   424908390   425137445   442588257   442676144   442702114   442727442   442752655   442777371
424345890   424646651   424908499   425137452   442588307   442676151   442702122   442727459   442752663   442777389
424345916   424646891   424908523   425137460   442588612   442676169   442702130   442727467   442752671   442777397
424345940   424646933   424908697   425137478   442588653   442676177   442702148   442727475   442752689   442777405
424345957   424647162   424908705   425137494   442589073   442676185   442702155   442727483   442752697   442777413
424345973   424647386   424908754   425137536   442589107   442676193   442702163   442727491   442752705   442777421
424345999   424647592   424909042   425137569   442589131   442676201   442702171   442727509   442752713   442777439
424346146   424647774   424909125   425137635   442589214   442676219   442702189   442727517   442752721   442777447
424346278   424647865   424909158   425137676   442589289   442676227   442702197   442727525   442752739   442777454
424346492   424647907   424909406   425137775   442589503   442676235   442702205   442727533   442752747   442777462
424346518   424647923   424909448   425137791   442589511   442676243   442702221   442727558   442752754   442777470
424346831   424647931   424909539   425137965   442589537   442676250   442702239   442727566   442752762   442777488
424347011   424648095   424909638   425137999   442589628   442676268   442702247   442727574   442752770   442777496
424347086   424648145   424909646   425138179   442589669   442676276   442702254   442727582   442752788   442777504
424347193   424648210   424909711   425138229   442589693   442676284   442702262   442727590   442752796   442777512
424347334   424648228   424909745   425138245   442589982   442676292   442702270   442727608   442752804   442777520
424347565   424648376   424909794   425138252   442590022   442676300   442702288   442727616   442752812   442777546
424347607   424648483   424909935   425138286   442590071   442676318   442702296   442727624   442752820   442777561
424347623   424648590   424910016   425138344   442590162   442676326   442702312   442727632   442752838   442777579
424348092   424648699   424910073   425138518   442590253   442676334   442702320   442727640   442752846   442777587
424348118   424648855   424910198   425138765   442590436   442676342   442702338   442727657   442752853   442777595
424348142   424648939   424910248   425138823   442590485   442676359   442702346   442727665   442752861   442777603
424348365   424649184   424910271   425138880   442590618   442676367   442702361   442727673   442752887   442777611
424348407   424649234   424910545   425139060   442590725   442676375   442702379   442727681   442752895   442777629
424348605   424649366   424910602   425139078   442590766   442676383   442702387   442727707   442752903   442777637
424349017   424649549   424910792   425139342   442590972   442676391   442702395   442727715   442752911   442777645
424349215   424649572   424910842   425139375   442591111   442676417   442702403   442727723   442752929   442777652
424349553   424650018   424911162   425139383   442591129   442676425   442702411   442727731   442752937   442777660
424349603   424650240   424911311   425139409   442591145   442676433   442702429   442727749   442752945   442777678
424349835   424650273   424911345   425139482   442591459   442676441   442702437   442727756   442752952   442777686
424349926   424650307   424911386   425139557   442591475   442676458   442702445   442727764   442752960   442777702
424349959   424650414   424911618   425139672   442591525   442676466   442702452   442727772   442752978   442777710
424350064   424650539   424911873   425139730   442591590   442676474   442702460   442727780   442752986   442777728
424350080   424650612   424911949   425139862   442591749   442676482   442702478   442727798   442752994   442777736
424350312   424650638   424912004   425139912   442591772   442676490   442702486   442727806   442753000   442777744
424350320   424650679   424912079   425139953   442591863   442676508   442702494   442727814   442753018   442777751
424350379   424650737   424912186   425139987   442592036   442676516   442702502   442727822   442753026   442777769
424350460   424650976   424912194   425140019   442592283   442676524   442702510   442727848   442753034   442777777
424350544   424651024   424912244   425140241   442592291   442676532   442702528   442727855   442753059   442777785
424350700   424651115   424912327   425140324   442592457   442676540   442702544   442727863   442753067   442777793
424350718   424651438   424912525   425140373   442592663   442676557   442702551   442727871   442753083   442777801
424350890   424651560   424912707   425140407   442592713   442676565   442702569   442727889   442753091   442777819
424350932   424651586   424912954   425140589   442592770   442676573   442702577   442727897   442753117   442777827
424351005   424651628   424913069   425140662   442592952   442676581   442702585   442727905   442753125   442777835
424351369   424651727   424913085   425140670   442593000   442676599   442702593   442727913   442753133   442777843
424351450   424651743   424913101   425140738   442593018   442676607   442702601   442727921   442753141   442777850
424351484   424651875   424913127   425140746   442593083   442676615   442702619   442727939   442753158   442777868
424351518   424651891   424913176   425140753   442593091   442676623   442702627   442727947   442753166   442777876
424351617   424652139   424913374   425140811   442593125   442676631   442702635   442727954   442753174   442777884

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442802021   442826764   442851507   442875787   442900270   442924569   442948824   442972832   442996575   443020359
442802039   442826780   442851515   442875795   442900288   442924577   442948832   442972840   442996583   443020367
442802047   442826798   442851523   442875803   442900296   442924585   442948857   442972857   442996591   443020375
442802054   442826806   442851531   442875811   442900304   442924593   442948865   442972865   442996609   443020383
442802062   442826814   442851549   442875829   442900312   442924601   442948873   442972873   442996617   443020391
442802070   442826822   442851556   442875837   442900320   442924619   442948881   442972881   442996625   443020409
442802088   442826848   442851564   442875845   442900338   442924627   442948899   442972899   442996633   443020417
442802096   442826863   442851572   442875852   442900346   442924635   442948907   442972907   442996658   443020425
442802104   442826871   442851580   442875860   442900353   442924643   442948915   442972915   442996666   443020433
442802112   442826897   442851598   442875878   442900361   442924650   442948923   442972923   442996674   443020441
442802120   442826905   442851606   442875886   442900379   442924668   442948931   442972931   442996682   443020458
442802138   442826913   442851614   442875894   442900387   442924676   442948949   442972949   442996690   443020466
442802146   442826921   442851622   442875902   442900395   442924684   442948956   442972956   442996708   443020474
442802153   442826947   442851630   442875910   442900403   442924692   442948964   442972964   442996716   443020482
442802161   442826954   442851648   442875928   442900411   442924700   442948972   442972972   442996724   443020490
442802179   442826962   442851655   442875936   442900429   442924718   442948980   442972980   442996732   443020508
442802187   442826970   442851663   442875944   442900445   442924726   442948998   442972998   442996740   443020516
442802195   442826988   442851671   442875969   442900452   442924734   442949004   442973004   442996757   443020524
442802203   442826996   442851689   442875977   442900460   442924759   442949012   442973012   442996765   443020532
442802211   442827002   442851697   442875985   442900478   442924767   442949020   442973020   442996773   443020540
442802229   442827010   442851705   442875993   442900486   442924775   442949038   442973038   442996781   443020557
442802237   442827028   442851713   442876009   442900494   442924783   442949046   442973046   442996799   443020565
442802245   442827036   442851721   442876017   442900502   442924791   442949053   442973053   442996807   443020573
442802252   442827044   442851739   442876033   442900510   442924809   442949061   442973061   442996815   443020581
442802260   442827051   442851747   442876041   442900528   442924817   442949079   442973079   442996823   443020599
442802278   442827069   442851754   442876058   442900536   442924825   442949087   442973087   442996831   443020607
442802294   442827077   442851762   442876066   442900544   442924833   442949095   442973095   442996849   443020615
442802302   442827085   442851770   442876074   442900551   442924841   442949103   442973103   442996856   443020623
442802310   442827093   442851788   442876082   442900569   442924858   442949111   442973111   442996864   443020631
442802328   442827101   442851796   442876090   442900577   442924866   442949129   442973129   442996872   443020649
442802336   442827119   442851804   442876108   442900585   442924874   442949137   442973137   442996880   443020656
442802344   442827127   442851812   442876116   442900601   442924890   442949145   442973145   442996898   443020664
442802351   442827135   442851820   442876124   442900619   442924908   442949152   442973152   442996906   443020672
442802369   442827143   442851838   442876132   442900627   442924916   442949178   442973160   442996914   443020680
442802377   442827150   442851846   442876140   442900635   442924924   442949186   442973178   442996922   443020698
442802385   442827168   442851853   442876157   442900643   442924932   442949194   442973186   442996930   443020706
442802393   442827176   442851861   442876165   442900650   442924940   442949202   442973194   442996948   443020714
442802401   442827184   442851879   442876173   442900668   442924957   442949210   442973202   442996955   443020722
442802419   442827192   442851887   442876181   442900676   442924965   442949228   442973210   442996963   443020730
442802427   442827200   442851895   442876199   442900684   442924973   442949236   442973228   442996971   443020748
442802435   442827218   442851903   442876207   442900692   442924981   442949244   442973236   442996989   443020755
442802450   442827226   442851911   442876215   442900700   442924999   442949251   442973244   442996997   443020763
442802468   442827234   442851929   442876223   442900718   442925004   442949269   442973251   442997003   443020771
442802476   442827242   442851937   442876231   442900726   442925012   442949277   442973269   442997011   443020789
442802484   442827259   442851945   442876249   442900734   442925020   442949285   442973277   442997029   443020797
442802492   442827267   442851952   442876256   442900742   442925038   442949293   442973285   442997037   443020805
442802500   442827283   442851986   442876264   442900759   442925046   442949301   442973293   442997045   443020813
442802518   442827291   442851994   442876272   442900767   442925053   442949327   442973301   442997052   443020821
442802526   442827309   442852000   442876280   442900775   442925061   442949335   442973319   442997060   443020839
442802534   442827317   442852018   442876298   442900783   442925079   442949343   442973327   442997078   443020847
442802542   442827325   442852026   442876314   442900791   442925087   442949350   442973335   442997086   443020854
442802559   442827333   442852034   442876330   442900809   442925103   442949368   442973343   442997094   443020862
442802567   442827341   442852042   442876348   442900817   442925111   442949376   442973350   442997102   443020870
442802575   442827358   442852059   442876355   442900825   442925129   442949384   442973368   442997110   443020888
442802583   442827366   442852067   442876363   442900833   442925145   442949392   442973376   442997128   443020896
442802591   442827374   442852075   442876371   442900841   442925152   442949400   442973384   442997136   443020904
442802609   442827382   442852083   442876389   442900858   442925160   442949418   442973392   442997144   443020912
442802617   442827390   442852091   442876397   442900874   442925178   442949426   442973400   442997151   443020920
442802625   442827408   442852109   442876405   442900882   442925186   442949434   442973418   442997169   443020938
442802633   442827416   442852117   442876413   442900890   442925194   442949442   442973426   442997177   443020946
442802641   442827424   442852125   442876421   442900908   442925202   442949459   442973434   442997185   443020953
442802658   442827432   442852133   442876439   442900916   442925210   442949467   442973442   442997193   443020961
442802666   442827440   442852141   442876447   442900924   442925228   442949475   442973459   442997201   443020979
442802674   442827457   442852158   442876454   442900932   442925236   442949483   442973467   442997219   443020987
442802682   442827465   442852166   442876462   442900940   442925244   442949491   442973475   442997227   443020995
442802690   442827473   442852174   442876470   442900957   442925251   442949509   442973483   442997235   443021001
442802708   442827481   442852182   442876488   442900965   442925269   442949517   442973491   442997243   443021019


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424351963   424652261   424913705   425140852   442593281   442676649   442702643   442727962   442753182   442777892
424352003   424652345   424913754   425141074   442593315   442676656   442702650   442727988   442753190   442777900
424352011   424652386   424913895   425141140   442593570   442676664   442702668   442727996   442753208   442777918
424352094   424652477   424913929   425141223   442593596   442676672   442702676   442728002   442753216   442777926
424352169   424652485   424914034   425141306   442593612   442676680   442702684   442728010   442753224   442777934
424352177   424652576   424914083   425141652   442593646   442676698   442702692   442728028   442753232   442777942
424352243   424652717   424914125   425141819   442593794   442676706   442702700   442728036   442753240   442777959
424352383   424652733   424914356   425141843   442593836   442676714   442702718   442728044   442753257   442777967
424352870   424652790   424914414   425141900   442593976   442676722   442702734   442728051   442753265   442777975
424352987   424652808   424914463   425141983   442594016   442676730   442702759   442728069   442753273   442777983
424353183   424653095   424914471   425142007   442594115   442676748   442702767   442728077   442753281   442777991
424353340   424653103   424914703   425142098   442594255   442676755   442702775   442728085   442753299   442778007
424353456   424653111   424914745   425142155   442594271   442676763   442702791   442728093   442753307   442778015
424353506   424653590   424914778   425142296   442594321   442676771   442702809   442728101   442753315   442778023
424353654   424653731   424914869   425142460   442594420   442676789   442702817   442728119   442753323   442778049
424353688   424653863   424914943   425142486   442594453   442676797   442702825   442728127   442753331   442778056
424353696   424653897   424914992   425142536   442594644   442676805   442702833   442728135   442753349   442778064
424353761   424654341   424915072   425142783   442594701   442676813   442702841   442728143   442753356   442778072
424354074   424654408   424915148   425143005   442594743   442676821   442702858   442728150   442753364   442778080
424354371   424654523   424915171   425143047   442594818   442676839   442702866   442728168   442753372   442778098
424354413   424654531   424915221   425143351   442594834   442676847   442702874   442728176   442753398   442778106
424354579   424654556   424915403   425143377   442594966   442676854   442702882   442728184   442753406   442778114
424354975   424654598   424915429   425143443   442595005   442676862   442702890   442728192   442753414   442778122
424355212   424654739   424915437   425143518   442595054   442676870   442702908   442728200   442753422   442778130
424355410   424654895   424915445   425143559   442595070   442676888   442702924   442728218   442753430   442778148
424355444   424655108   424915577   425143641   442595120   442676896   442702932   442728226   442753448   442778155
424355576   424655165   424915734   425143690   442595138   442676904   442702940   442728242   442753455   442778163
424355600   424655249   424915866   425143716   442595203   442676912   442702957   442728259   442753463   442778171
424356004   424655306   424916112   425143971   442595328   442676920   442702965   442728267   442753471   442778189
424356335   424655355   424916344   425144052   442595344   442676938   442702973   442728275   442753489   442778197
424356491   424655371   424916559   425144078   442595526   442676946   442702981   442728283   442753497   442778205
424356699   424655496   424916641   425144110   442595625   442676961   442702999   442728291   442753505   442778213
424356715   424655579   424916690   425144128   442595732   442676979   442703005   442728309   442753513   442778221
424356830   424655710   424916740   425144243   442595781   442676987   442703013   442728317   442753521   442778239
424357077   424655959   424916948   425144573   442595799   442676995   442703021   442728325   442753539   442778247
424357127   424656049   424917029   425144672   442595930   442677001   442703039   442728333   442753547   442778254
424357176   424656056   424917037   425144706   442596037   442677019   442703047   442728341   442753554   442778270
424357267   424656130   424917193   425144797   442596250   442677027   442703054   442728358   442753562   442778288
424357382   424656171   424917227   425144920   442596722   442677035   442703062   442728366   442753570   442778296
424357515   424656189   424917243   425144979   442596847   442677043   442703070   442728374   442753588   442778304
424357523   424656213   424917326   425145182   442596938   442677050   442703088   442728382   442753596   442778312
424357549   424656221   424917367   425145224   442596953   442677068   442703096   442728390   442753604   442778320
424357697   424656288   424917557   425145232   442596979   442677084   442703104   442728408   442753612   442778338
424357945   424656387   424917615   425145315   442597043   442677092   442703112   442728416   442753620   442778346
424358067   424656593   424917680   425145331   442597134   442677100   442703120   442728424   442753646   442778353
424358372   424656619   424917706   425145448   442597142   442677118   442703138   442728432   442753653   442778361
424358448   424656940   424917714   425145463   442597191   442677126   442703146   442728440   442753661   442778379
424358737   424656981   424917748   425145638   442597597   442677134   442703153   442728457   442753679   442778387
424358893   424657187   424917821   425145760   442597654   442677142   442703161   442728465   442753687   442778395
424359016   424657252   424917904   425145778   442597688   442677159   442703179   442728473   442753695   442778403
424359123   424657278   424917946   425145810   442598074   442677167   442703187   442728481   442753703   442778411
424359263   424657351   424917961   425145836   442598157   442677183   442703195   442728499   442753711   442778429
424359537   424657542   424918050   425145935   442598249   442677191   442703203   442728507   442753729   442778437
424359578   424657724   424918183   425145968   442598454   442677209   442703211   442728531   442753737   442778445
424359602   424657922   424918225   425146073   442598579   442677217   442703229   442728549   442753760   442778452
424359610   424658029   424918274   425146131   442598603   442677225   442703237   442728556   442753778   442778460
424359669   424658268   424918332   425146149   442598637   442677233   442703245   442728564   442753786   442778478
424359719   424658466   424918720   425146263   442598710   442677241   442703252   442728572   442753794   442778486
424360030   424658540   424918787   425146313   442598728   442677258   442703260   442728580   442753802   442778494
424360345   424658623   424918860   425146446   442598777   442677266   442703278   442728606   442753828   442778502
424360352   424658896   424918910   425146776   442598793   442677274   442703286   442728614   442753836   442778510
424360444   424659001   424918944   425146867   442598835   442677282   442703294   442728622   442753844   442778528
424360451   424659019   424919025   425146925   442598884   442677290   442703302   442728630   442753851   442778536
424360469   424659142   424919116   425147048   442599288   442677308   442703310   442728648   442753869   442778544
424360642   424659332   424919397   425147105   442599338   442677316   442703328   442728655   442753877   442778551
424360816   424659423   424919470   425147147   442599353   442677324   442703336   442728663   442753885   442778569
424360873   424659753   424919496   425147303   442599411   442677332   442703344   442728671   442753893   442778577

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442802716   442827507   442852190   442876496   442900973   442925285   442949525   442973509   442997250   443021027
442802724   442827515   442852208   442876504   442900981   442925293   442949533   442973517   442997268   443021035
442802732   442827523   442852216   442876512   442901005   442925301   442949541   442973525   442997276   443021043
442802740   442827531   442852224   442876520   442901013   442925319   442949558   442973533   442997284   443021050
442802757   442827556   442852232   442876538   442901021   442925327   442949566   442973541   442997292   443021068
442802773   442827564   442852240   442876546   442901039   442925335   442949574   442973558   442997300   443021076
442802781   442827572   442852257   442876561   442901047   442925343   442949582   442973566   442997318   443021084
442802799   442827580   442852265   442876579   442901054   442925350   442949590   442973574   442997326   443021092
442802807   442827598   442852273   442876587   442901062   442925368   442949608   442973582   442997334   443021100
442802815   442827606   442852281   442876595   442901070   442925376   442949616   442973590   442997342   443021118
442802823   442827614   442852299   442876603   442901088   442925384   442949624   442973608   442997367   443021126
442802831   442827630   442852307   442876611   442901096   442925392   442949632   442973616   442997375   443021134
442802849   442827648   442852315   442876629   442901104   442925400   442949640   442973624   442997383   443021142
442802856   442827655   442852323   442876637   442901112   442925418   442949657   442973632   442997391   443021159
442802864   442827663   442852331   442876645   442901120   442925426   442949665   442973640   442997409   443021167
442802872   442827671   442852349   442876652   442901138   442925434   442949673   442973657   442997417   443021175
442802880   442827689   442852356   442876660   442901146   442925442   442949681   442973665   442997425   443021183
442802898   442827697   442852364   442876678   442901153   442925459   442949699   442973673   442997433   443021191
442802906   442827705   442852372   442876686   442901161   442925467   442949707   442973681   442997441   443021209
442802922   442827713   442852380   442876694   442901179   442925475   442949715   442973699   442997458   443021217
442802930   442827721   442852398   442876702   442901187   442925483   442949723   442973707   442997466   443021225
442802948   442827739   442852406   442876710   442901195   442925491   442949731   442973715   442997474   443021233
442802955   442827747   442852414   442876728   442901203   442925509   442949749   442973723   442997482   443021241
442802963   442827754   442852422   442876736   442901211   442925517   442949756   442973731   442997490   443021258
442802971   442827762   442852430   442876744   442901229   442925525   442949764   442973749   442997508   443021266
442802989   442827770   442852448   442876751   442901245   442925533   442949772   442973756   442997524   443021274
442802997   442827788   442852455   442876769   442901252   442925541   442949780   442973764   442997532   443021282
442803003   442827796   442852463   442876777   442901260   442925558   442949798   442973772   442997540   443021290
442803011   442827804   442852471   442876785   442901278   442925566   442949806   442973780   442997557   443021308
442803029   442827812   442852489   442876793   442901286   442925574   442949814   442973798   442997565   443021316
442803037   442827820   442852497   442876801   442901294   442925582   442949822   442973806   442997573   443021324
442803045   442827838   442852505   442876819   442901302   442925590   442949830   442973814   442997581   443021332
442803052   442827879   442852513   442876827   442901310   442925608   442949848   442973822   442997599   443021340
442803060   442827887   442852521   442876835   442901328   442925616   442949855   442973830   442997607   443021357
442803078   442827895   442852539   442876843   442901336   442925624   442949863   442973848   442997615   443021365
442803086   442827903   442852547   442876850   442901344   442925632   442949871   442973855   442997623   443021373
442803094   442827911   442852554   442876868   442901351   442925640   442949889   442973863   442997631   443021381
442803102   442827929   442852562   442876876   442901369   442925657   442949897   442973871   442997649   443021399
442803110   442827937   442852570   442876884   442901377   442925665   442949905   442973889   442997656   443021407
442803128   442827945   442852588   442876892   442901385   442925673   442949913   442973897   442997664   443021415
442803136   442827952   442852596   442876900   442901393   442925681   442949921   442973905   442997672   443021423
442803144   442827960   442852604   442876918   442901401   442925699   442949939   442973913   442997680   443021431
442803151   442827978   442852612   442876926   442901419   442925707   442949947   442973921   442997698   443021449
442803169   442827986   442852620   442876934   442901427   442925715   442949954   442973939   442997706   443021456
442803177   442827994   442852638   442876942   442901435   442925723   442949962   442973947   442997714   443021464
442803193   442828000   442852646   442876959   442901443   442925731   442949970   442973954   442997722   443021472
442803201   442828018   442852653   442876967   442901450   442925749   442949988   442973962   442997730   443021480
442803227   442828034   442852661   442876975   442901468   442925756   442949996   442973970   442997748   443021498
442803235   442828042   442852679   442876983   442901476   442925764   442950002   442973988   442997755   443021506
442803243   442828059   442852687   442876991   442901484   442925772   442950028   442973996   442997763   443021514
442803250   442828067   442852695   442877023   442901492   442925780   442950036   442974002   442997771   443021522
442803268   442828075   442852703   442877031   442901500   442925798   442950044   442974010   442997789   443021530
442803276   442828083   442852711   442877049   442901518   442925806   442950051   442974028   442997797   443021548
442803284   442828091   442852729   442877056   442901526   442925814   442950069   442974036   442997805   443021555
442803292   442828109   442852737   442877064   442901534   442925822   442950077   442974044   442997813   443021563
442803300   442828117   442852745   442877072   442901542   442925830   442950085   442974051   442997821   443021571
442803318   442828125   442852752   442877080   442901559   442925848   442950093   442974069   442997839   443021589
442803326   442828141   442852760   442877098   442901567   442925855   442950101   442974077   442997847   443021597
442803334   442828158   442852778   442877106   442901575   442925863   442950119   442974085   442997854   443021605
442803342   442828166   442852786   442877114   442901583   442925871   442950127   442974093   442997862   443021613
442803359   442828174   442852794   442877122   442901591   442925889   442950135   442974101   442997870   443021621
442803367   442828182   442852802   442877130   442901609   442925897   442950143   442974119   442997888   443021639
442803375   442828190   442852810   442877148   442901617   442925905   442950168   442974127   442997896   443021647
442803383   442828208   442852828   442877155   442901625   442925913   442950176   442974135   442997904   443021654
442803391   442828224   442852844   442877171   442901633   442925921   442950184   442974143   442997912   443021662
442803409   442828232   442852851   442877189   442901641   442925939   442950192   442974150   442997920   443021670
442803417   442828240   442852869   442877197   442901658   442925947   442950200   442974168   442997938   443021688


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424361079   424659845   424919595   425147550   442599502   442677340   442703351   442728689   442753901   442778585
424361384   424660009   424919959   425147733   442599593   442677357   442703369   442728697   442753919   442778593
424361434   424660074   424919983   425147972   442599643   442677365   442703377   442728705   442753927   442778619
424361681   424660108   424920064   425148061   442599650   442677373   442703385   442728713   442753935   442778627
424362283   424660256   424920072   425148111   442599726   442677381   442703393   442728721   442753943   442778635
424362291   424660280   424920304   425148137   442599775   442677399   442703401   442728739   442753950   442778643
424362325   424660397   424920544   425148293   442599783   442677407   442703419   442728747   442753968   442778650
424362424   424660470   424920692   425148376   442599809   442677415   442703427   442728754   442753976   442778668
424362549   424660629   424920866   425148467   442599833   442677431   442703435   442728762   442753984   442778676
424362556   424660645   424920882   425148533   442599874   442677456   442703443   442728770   442753992   442778684
424362689   424661106   424920890   425148616   442599940   442677464   442703468   442728788   442754008   442778692
424362838   424661171   424920916   425148640   442600235   442677472   442703476   442728796   442754016   442778700
424362986   424661387   424920981   425148681   442600250   442677480   442703484   442728804   442754024   442778718
424363026   424661429   424921104   425148756   442600433   442677506   442703500   442728812   442754032   442778726
424363273   424661445   424921138   425148814   442600615   442677514   442703518   442728820   442754040   442778734
424363364   424661494   424921187   425149259   442600722   442677522   442703526   442728838   442754057   442778742
424363596   424661650   424921195   425149341   442600763   442677530   442703534   442728846   442754065   442778759
424363661   424662005   424921500   425149481   442600821   442677548   442703542   442728853   442754081   442778767
424364099   424662203   424921575   425149499   442600854   442677555   442703559   442728861   442754107   442778775
424364313   424662302   424921716   425149648   442600953   442677563   442703567   442728887   442754115   442778783
424364636   424662534   424921765   425149671   442600987   442677571   442703575   442728895   442754123   442778791
424364719   424662542   424921948   425149713   442601001   442677589   442703583   442728903   442754131   442778809
424364859   424662559   424921989   425149770   442601027   442677605   442703591   442728911   442754149   442778817
424365443   424662591   424922045   425149861   442601126   442677613   442703609   442728929   442754156   442778825
424365898   424662690   424922078   425149929   442601134   442677621   442703617   442728937   442754164   442778833
424365930   424662914   424922169   425150026   442601167   442677639   442703625   442728945   442754172   442778841
424366110   424662955   424922243   425150117   442601266   442677647   442703633   442728952   442754180   442778858
424366342   424663045   424922250   425150166   442601274   442677654   442703641   442728978   442754198   442778866
424366573   424663060   424922375   425150240   442601316   442677662   442703658   442728986   442754206   442778874
424366755   424663284   424922425   425150414   442601449   442677670   442703666   442728994   442754214   442778882
424366789   424663292   424922490   425150471   442601506   442677696   442703674   442729000   442754222   442778890
424366904   424663342   424922656   425150547   442601613   442677704   442703682   442729026   442754230   442778908
424367068   424663391   424922698   425150554   442601761   442677712   442703690   442729042   442754248   442778916
424367183   424663532   424922839   425150596   442601852   442677738   442703708   442729059   442754255   442778924
424367340   424663714   424922904   425150661   442601928   442677746   442703716   442729067   442754263   442778932
424367373   424663755   424923019   425150752   442601944   442677753   442703724   442729075   442754271   442778940
424367472   424663839   424923068   425150786   442602132   442677761   442703732   442729083   442754289   442778957
424367506   424664001   424923233   425150893   442602397   442677779   442703740   442729091   442754297   442778965
424367605   424664043   424923290   425150919   442602496   442677787   442703757   442729109   442754305   442778973
424367613   424664126   424923381   425151057   442602512   442677795   442703765   442729117   442754313   442778981
424367753   424664191   424923431   425151164   442602645   442677803   442703773   442729125   442754321   442778999
424367811   424664464   424923795   425151172   442602694   442677829   442703781   442729133   442754339   442779005
424367845   424664522   424923803   425151230   442602728   442677837   442703799   442729141   442754347   442779013
424367936   424664738   424923878   425151263   442602793   442677845   442703807   442729158   442754354   442779021
424368066   424664746   424923936   425151271   442603098   442677852   442703823   442729166   442754362   442779039
424368249   424664845   424924017   425151388   442603148   442677860   442703849   442729174   442754370   442779047
424368280   424665255   424924033   425151495   442603163   442677878   442703864   442729182   442754388   442779054
424368447   424665552   424924041   425151503   442603205   442677886   442703880   442729190   442754396   442779062
424368561   424665685   424924561   425151586   442603239   442677894   442703898   442729208   442754404   442779070
424369049   424665735   424924587   425151669   442603247   442677902   442703906   442729216   442754412   442779088
424369098   424665826   424924686   425151701   442603254   442677910   442703914   442729224   442754420   442779096
424369130   424665867   424924785   425151941   442603288   442677928   442703922   442729232   442754438   442779104
424369312   424665925   424924827   425152014   442603320   442677936   442703930   442729240   442754446   442779112
424369445   424665958   424924926   425152063   442603445   442677951   442703948   442729257   442754453   442779120
424369510   424666014   424925048   425152253   442603478   442677969   442703955   442729265   442754461   442779138
424369585   424666055   424925188   425152345   442603486   442677977   442703963   442729273   442754479   442779146
424369635   424666071   424925337   425152360   442603494   442677985   442703971   442729281   442754495   442779153
424369684   424666204   424925568   425152386   442603528   442677993   442703989   442729299   442754503   442779161
424369692   424666436   424925592   425152493   442603684   442678009   442703997   442729307   442754511   442779179
424369700   424666626   424925642   425152634   442603692   442678017   442704003   442729323   442754529   442779187
424369759   424666683   424925659   425152683   442603742   442678025   442704029   442729331   442754537   442779195
424369775   424666956   424925824   425152774   442603916   442678041   442704037   442729349   442754545   442779203
424369981   424667012   424925832   425153012   442604096   442678058   442704045   442729356   442754552   442779211
424370187   424667038   424925865   425153020   442604153   442678066   442704052   442729364   442754560   442779229
424370286   424667087   424926012   425153152   442604286   442678074   442704060   442729372   442754578   442779237
424370328   424667202   424926368   425153186   442604302   442678082   442704078   442729380   442754586   442779245
424370567   424667269   424926400   425153210   442604393   442678090   442704086   442729398   442754594   442779252

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442803425   442828257   442852877   442877205   442901666   442925954   442950218   442974176   442997946   443021696
442803433   442828265   442852885   442877213   442901674   442925962   442950226   442974184   442997953   443021704
442803441   442828273   442852893   442877221   442901682   442925970   442950234   442974192   442997961   443021712
442803458   442828281   442852901   442877239   442901690   442925996   442950242   442974200   442997979   443021720
442803474   442828299   442852919   442877247   442901708   442926002   442950259   442974218   442997987   443021738
442803482   442828307   442852927   442877254   442901716   442926010   442950267   442974226   442997995   443021746
442803490   442828323   442852935   442877262   442901724   442926028   442950275   442974234   442998001   443021753
442803508   442828331   442852943   442877270   442901732   442926036   442950283   442974242   442998019   443021761
442803516   442828356   442852950   442877288   442901740   442926044   442950291   442974259   442998027   443021779
442803524   442828364   442852968   442877296   442901757   442926051   442950309   442974267   442998035   443021787
442803532   442828372   442852976   442877312   442901765   442926069   442950317   442974275   442998043   443021795
442803557   442828380   442852984   442877320   442901773   442926077   442950325   442974283   442998050   443021803
442803565   442828398   442852992   442877338   442901781   442926085   442950333   442974291   442998068   443021811
442803573   442828406   442853008   442877346   442901799   442926093   442950341   442974309   442998076   443021829
442803581   442828414   442853016   442877353   442901807   442926101   442950358   442974317   442998084   443021837
442803599   442828422   442853024   442877361   442901815   442926119   442950366   442974325   442998092   443021845
442803607   442828430   442853032   442877379   442901823   442926127   442950374   442974333   442998100   443021852
442803615   442828448   442853040   442877387   442901831   442926135   442950382   442974341   442998118   443021860
442803623   442828455   442853057   442877395   442901849   442926143   442950390   442974358   442998126   443021878
442803631   442828463   442853065   442877403   442901856   442926150   442950408   442974366   442998134   443021886
442803649   442828471   442853073   442877411   442901864   442926168   442950416   442974374   442998142   443021894
442803656   442828489   442853081   442877429   442901872   442926176   442950424   442974382   442998159   443021902
442803664   442828497   442853107   442877437   442901880   442926184   442950432   442974390   442998167   443021910
442803672   442828505   442853115   442877445   442901898   442926192   442950440   442974408   442998175   443021928
442803680   442828513   442853123   442877452   442901906   442926200   442950457   442974416   442998183   443021936
442803698   442828521   442853131   442877460   442901914   442926218   442950465   442974424   442998191   443021944
442803714   442828539   442853149   442877478   442901922   442926226   442950473   442974432   442998209   443021951
442803722   442828547   442853156   442877486   442901930   442926234   442950481   442974440   442998217   443021969
442803730   442828562   442853164   442877494   442901955   442926242   442950499   442974457   442998225   443021977
442803748   442828570   442853172   442877502   442901963   442926259   442950507   442974465   442998233   443021985
442803755   442828588   442853180   442877510   442901971   442926267   442950515   442974473   442998241   443021993
442803763   442828596   442853198   442877528   442901989   442926283   442950523   442974481   442998258   443022009
442803771   442828604   442853206   442877536   442901997   442926291   442950531   442974499   442998266   443022017
442803789   442828638   442853214   442877544   442902003   442926309   442950549   442974507   442998274   443022033
442803797   442828646   442853222   442877551   442902011   442926317   442950556   442974515   442998282   443022041
442803805   442828653   442853230   442877569   442902029   442926325   442950564   442974523   442998290   443022058
442803813   442828661   442853248   442877577   442902037   442926333   442950572   442974531   442998308   443022066
442803821   442828679   442853255   442877585   442902045   442926341   442950580   442974549   442998316   443022074
442803839   442828687   442853263   442877593   442902052   442926358   442950598   442974556   442998324   443022082
442803847   442828703   442853271   442877601   442902060   442926366   442950606   442974564   442998332   443022090
442803854   442828711   442853289   442877619   442902078   442926374   442950614   442974572   442998340   443022108
442803862   442828729   442853297   442877627   442902086   442926382   442950622   442974580   442998357   443022116
442803870   442828737   442853305   442877635   442902094   442926390   442950630   442974598   442998365   443022124
442803888   442828745   442853313   442877643   442902102   442926408   442950648   442974606   442998373   443022132
442803896   442828752   442853321   442877650   442902110   442926416   442950655   442974614   442998381   443022140
442803912   442828760   442853339   442877668   442902136   442926424   442950663   442974622   442998399   443022157
442803920   442828778   442853347   442877676   442902144   442926432   442950671   442974630   442998407   443022165
442803938   442828786   442853354   442877684   442902151   442926440   442950689   442974648   442998415   443022173
442803946   442828794   442853362   442877692   442902169   442926457   442950697   442974655   442998423   443022181
442803953   442828802   442853370   442877700   442902177   442926465   442950713   442974663   442998431   443022199
442803961   442828810   442853388   442877718   442902185   442926473   442950721   442974671   442998449   443022207
442803979   442828828   442853396   442877726   442902193   442926481   442950739   442974689   442998456   443022215
442803987   442828836   442853404   442877734   442902201   442926499   442950747   442974697   442998464   443022223
442803995   442828844   442853412   442877742   442902219   442926507   442950754   442974705   442998472   443022231
442804001   442828851   442853420   442877759   442902227   442926515   442950762   442974713   442998480   443022249
442804019   442828869   442853438   442877767   442902235   442926523   442950770   442974721   442998498   443022256
442804027   442828877   442853446   442877775   442902243   442926549   442950788   442974739   442998506   443022264
442804035   442828885   442853453   442877783   442902250   442926564   442950796   442974747   442998514   443022272
442804043   442828893   442853461   442877791   442902268   442926572   442950804   442974754   442998522   443022280
442804068   442828901   442853479   442877809   442902284   442926580   442950812   442974762   442998530   443022298
442804076   442828919   442853487   442877817   442902292   442926598   442950820   442974770   442998548   443022306
442804084   442828927   442853495   442877825   442902300   442926606   442950838   442974788   442998555   443022314
442804092   442828935   442853503   442877833   442902318   442926614   442950846   442974796   442998563   443022322
442804100   442828943   442853529   442877841   442902326   442926622   442950853   442974804   442998571   443022330
442804118   442828950   442853537   442877858   442902334   442926630   442950861   442974812   442998597   443022348
442804126   442828968   442853545   442877866   442902342   442926648   442950879   442974820   442998605   443022355
442804134   442828976   442853552   442877874   442902359   442926663   442950887   442974838   442998613   443022363


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424370682   424667277   424926459   425153228   442604450   442678108   442704094   442729406   442754602   442779260
424370807   424667350   424926475   425153277   442604724   442678116   442704102   442729414   442754610   442779278
424370930   424667491   424926509   425153723   442604773   442678124   442704110   442729422   442754628   442779286
424371110   424667632   424926517   425153731   442604955   442678132   442704128   442729430   442754636   442779302
424371128   424667657   424926640   425153897   442604971   442678140   442704136   442729448   442754644   442779310
424371136   424667988   424926830   425153921   442605069   442678157   442704144   442729455   442754651   442779328
424371177   424668010   424926913   425154176   442605218   442678165   442704151   442729463   442754669   442779344
424371292   424668051   424926939   425154507   442605325   442678173   442704169   442729471   442754677   442779351
424371425   424668119   424927010   425154689   442605440   442678181   442704177   442729489   442754685   442779369
424371557   424668275   424927127   425154747   442605473   442678199   442704185   442729497   442754693   442779377
424371748   424668366   424927184   425154945   442605614   442678207   442704193   442729505   442754701   442779385
424371839   424668531   424927234   425155157   442605622   442678215   442704219   442729513   442754719   442779393
424372142   424668713   424927341   425155165   442605648   442678223   442704227   442729521   442754727   442779401
424372233   424668853   424927390   425155207   442605804   442678231   442704243   442729539   442754735   442779427
424372241   424669224   424927481   425155231   442605812   442678249   442704250   442729547   442754743   442779435
424372308   424669232   424927515   425155249   442605820   442678256   442704268   442729554   442754750   442779443
424372548   424669455   424927531   425155256   442605879   442678264   442704276   442729562   442754768   442779468
424372704   424669489   424927598   425155298   442605895   442678272   442704284   442729570   442754776   442779476
424372878   424669901   424927671   425155314   442605903   442678280   442704300   442729588   442754784   442779484
424372951   424670032   424927697   425155389   442606083   442678298   442704318   442729604   442754792   442779492
424373223   424670040   424927929   425155413   442606182   442678306   442704326   442729612   442754800   442779500
424373314   424670057   424927994   425155462   442606331   442678314   442704334   442729620   442754818   442779518
424373348   424670156   424928109   425155561   442606364   442678322   442704342   442729638   442754826   442779534
424373413   424670594   424928133   425155645   442606372   442678348   442704359   442729646   442754834   442779542
424373447   424670610   424928232   425156122   442606448   442678363   442704367   442729653   442754842   442779559
424373512   424670636   424928265   425156262   442606455   442678371   442704375   442729661   442754859   442779575
424373884   424670644   424928570   425156403   442606539   442678389   442704383   442729687   442754875   442779583
424373926   424670677   424928612   425156452   442606547   442678397   442704391   442729695   442754883   442779591
424374015   424670784   424928919   425156494   442606570   442678405   442704409   442729703   442754891   442779609
424374221   424670842   424928976   425156619   442606620   442678413   442704425   442729711   442754909   442779617
424374304   424670883   424929008   425156650   442606661   442678421   442704441   442729729   442754917   442779625
424374544   424671055   424929339   425156858   442606745   442678439   442704458   442729737   442754925   442779633
424374650   424671188   424929370   425156866   442606828   442678447   442704466   442729745   442754933   442779641
424374676   424671196   424929396   425156981   442606869   442678454   442704474   442729752   442754941   442779658
424374692   424671451   424929644   425157047   442606935   442678462   442704482   442729760   442754958   442779666
424374718   424671683   424929834   425157070   442607065   442678470   442704490   442729778   442754966   442779674
424374759   424671709   424929859   425157245   442607073   442678496   442704508   442729786   442754974   442779682
424374965   424671725   424929867   425157252   442607099   442678504   442704516   442729794   442754982   442779690
424375087   424671899   424929933   425157286   442607156   442678512   442704524   442729802   442754990   442779708
424375285   424671907   424929990   425157377   442607206   442678520   442704540   442729828   442755013   442779716
424375400   424672087   424930055   425157443   442607222   442678538   442704557   442729836   442755021   442779732
424375806   424672178   424930121   425157567   442607347   442678546   442704565   442729851   442755039   442779740
424376176   424672202   424930147   425157583   442607560   442678553   442704573   442729869   442755047   442779757
424376275   424672228   424930220   425157658   442607610   442678561   442704581   442729877   442755054   442779765
424376457   424672327   424930337   425157732   442607834   442678587   442704607   442729885   442755062   442779773
424376747   424672442   424930352   425157781   442607875   442678595   442704615   442729893   442755070   442779781
424376937   424672632   424930386   425157849   442607974   442678611   442704631   442729901   442755088   442779799
424376945   424672756   424930428   425157856   442608022   442678629   442704649   442729919   442755096   442779807
424377372   424672830   424930501   425157880   442608097   442678637   442704656   442729927   442755104   442779815
424377422   424672889   424930774   425157898   442608105   442678645   442704664   442729935   442755112   442779823
424377430   424673093   424930782   425157948   442608154   442678652   442704672   442729943   442755120   442779831
424377448   424673176   424930840   425158011   442608212   442678660   442704680   442729950   442755138   442779849
424377596   424673291   424930915   425158045   442608311   442678678   442704714   442729968   442755146   442779856
424377679   424673416   424931103   425158086   442608527   442678694   442704722   442729976   442755153   442779872
424377778   424673580   424931178   425158094   442608618   442678702   442704730   442729984   442755161   442779880
424377943   424673630   424931236   425158268   442608881   442678728   442704748   442729992   442755179   442779898
424378529   424673713   424931350   425158326   442609012   442678736   442704755   442730008   442755187   442779906
424378768   424673739   424931376   425158334   442609046   442678744   442704763   442730016   442755195   442779914
424378925   424673838   424931699   425158607   442609087   442678751   442704771   442730032   442755203   442779922
424379501   424673937   424931871   425158730   442609129   442678769   442704797   442730040   442755211   442779930
424379618   424674364   424931954   425158797   442609269   442678777   442704805   442730057   442755229   442779948
424379634   424674927   424932127   425158847   442609293   442678785   442704813   442730065   442755237   442779955
424379782   424675197   424932150   425158961   442609368   442678793   442704821   442730073   442755245   442779963
424380459   424675213   424932283   425159001   442609384   442678801   442704839   442730081   442755252   442779971
424380657   424675288   424932341   425159100   442609392   442678819   442704854   442730099   442755260   442779989
424380731   424675387   424932440   425159621   442609442   442678827   442704862   442730107   442755278   442779997
424380764   424675445   424932564   425159720   442609566   442678835   442704870   442730115   442755286   442780003

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442804142   442828984   442853560   442877882   442902367   442926671   442950895   442974853   442998621   443022371
442804159   442828992   442853578   442877890   442902375   442926697   442950903   442974861   442998639   443022389
442804167   442829008   442853586   442877908   442902383   442926705   442950911   442974879   442998647   443022397
442804175   442829016   442853594   442877924   442902391   442926713   442950929   442974887   442998654   443022405
442804183   442829024   442853602   442877932   442902409   442926721   442950937   442974895   442998662   443022413
442804191   442829032   442853610   442877940   442902417   442926739   442950945   442974903   442998670   443022421
442804209   442829040   442853628   442877957   442902425   442926747   442950952   442974911   442998688   443022439
442804217   442829057   442853636   442877965   442902433   442926754   442950960   442974929   442998696   443022447
442804225   442829065   442853644   442877973   442902441   442926762   442950978   442974937   442998704   443022454
442804233   442829073   442853651   442877981   442902458   442926770   442950986   442974945   442998712   443022462
442804258   442829081   442853669   442877999   442902466   442926788   442950994   442974952   442998720   443022470
442804266   442829099   442853677   442878005   442902474   442926804   442951000   442974960   442998738   443022488
442804274   442829107   442853685   442878013   442902482   442926812   442951018   442974978   442998746   443022496
442804282   442829115   442853693   442878021   442902508   442926820   442951026   442974986   442998753   443022504
442804290   442829123   442853701   442878039   442902516   442926838   442951034   442974994   442998761   443022512
442804308   442829131   442853719   442878047   442902524   442926846   442951042   442975009   442998779   443022520
442804316   442829149   442853727   442878054   442902532   442926853   442951059   442975017   442998787   443022538
442804324   442829156   442853743   442878062   442902540   442926861   442951067   442975025   442998795   443022546
442804332   442829164   442853750   442878070   442902557   442926879   442951075   442975033   442998803   443022553
442804340   442829172   442853768   442878088   442902565   442926887   442951083   442975041   442998811   443022561
442804357   442829180   442853776   442878096   442902573   442926895   442951109   442975058   442998829   443022579
442804365   442829198   442853784   442878104   442902581   442926903   442951117   442975066   442998837   443022587
442804373   442829206   442853792   442878112   442902615   442926911   442951125   442975074   442998845   443022595
442804381   442829214   442853800   442878120   442902623   442926929   442951133   442975082   442998852   443022603
442804399   442829222   442853818   442878138   442902631   442926937   442951141   442975090   442998860   443022611
442804407   442829230   442853826   442878146   442902649   442926945   442951158   442975108   442998878   443022629
442804423   442829248   442853834   442878153   442902656   442926952   442951166   442975116   442998886   443022637
442804431   442829255   442853842   442878161   442902664   442926960   442951174   442975124   442998894   443022645
442804449   442829263   442853859   442878179   442902672   442926978   442951182   442975132   442998902   443022652
442804456   442829271   442853867   442878187   442902680   442926986   442951190   442975140   442998910   443022660
442804464   442829289   442853875   442878195   442902698   442926994   442951208   442975157   442998928   443022678
442804472   442829297   442853883   442878203   442902706   442927000   442951216   442975165   442998936   443022686
442804480   442829305   442853891   442878211   442902714   442927018   442951224   442975173   442998944   443022694
442804498   442829313   442853909   442878237   442902722   442927026   442951232   442975181   442998951   443022702
442804514   442829321   442853917   442878245   442902730   442927034   442951240   442975199   442998969   443022710
442804522   442829339   442853925   442878252   442902748   442927042   442951257   442975207   442998977   443022728
442804530   442829347   442853933   442878260   442902755   442927059   442951265   442975215   442998985   443022736
442804548   442829354   442853941   442878278   442902763   442927067   442951273   442975223   442998993   443022744
442804555   442829362   442853958   442878286   442902771   442927075   442951281   442975231   442999009   443022751
442804563   442829370   442853966   442878294   442902789   442927083   442951299   442975249   442999017   443022769
442804571   442829388   442853974   442878302   442902797   442927091   442951307   442975256   442999025   443022777
442804589   442829396   442853982   442878310   442902805   442927109   442951315   442975264   442999033   443022785
442804597   442829404   442853990   442878328   442902813   442927117   442951323   442975272   442999041   443022793
442804605   442829412   442854006   442878336   442902821   442927125   442951331   442975280   442999058   443022801
442804613   442829420   442854014   442878344   442902839   442927133   442951349   442975298   442999066   443022819
442804621   442829438   442854022   442878351   442902847   442927158   442951356   442975306   442999074   443022827
442804639   442829446   442854030   442878369   442902854   442927166   442951364   442975314   442999082   443022835
442804647   442829453   442854048   442878377   442902862   442927174   442951372   442975322   442999090   443022843
442804654   442829461   442854055   442878385   442902870   442927182   442951380   442975330   442999108   443022850
442804662   442829479   442854063   442878393   442902888   442927190   442951398   442975348   442999116   443022868
442804670   442829487   442854089   442878401   442902896   442927208   442951406   442975355   442999124   443022876
442804688   442829495   442854097   442878419   442902904   442927216   442951414   442975363   442999132   443022884
442804696   442829503   442854113   442878427   442902912   442927224   442951422   442975371   442999140   443022892
442804704   442829511   442854121   442878435   442902920   442927232   442951430   442975389   442999157   443022900
442804712   442829529   442854139   442878443   442902938   442927240   442951448   442975397   442999165   443022918
442804720   442829537   442854147   442878450   442902946   442927257   442951455   442975405   442999173   443022926
442804738   442829545   442854154   442878468   442902953   442927265   442951463   442975413   442999181   443022934
442804753   442829552   442854162   442878476   442902961   442927273   442951471   442975421   442999199   443022942
442804761   442829560   442854170   442878484   442902979   442927281   442951489   442975439   442999207   443022959
442804779   442829578   442854188   442878492   442902987   442927299   442951497   442975447   442999215   443022967
442804787   442829586   442854196   442878500   442903001   442927307   442951505   442975454   442999223   443022975
442804795   442829594   442854204   442878518   442903019   442927315   442951513   442975462   442999231   443022983
442804803   442829602   442854212   442878526   442903027   442927323   442951521   442975470   442999249   443022991
442804811   442829610   442854220   442878534   442903035   442927331   442951539   442975488   442999256   443023007
442804829   442829628   442854238   442878542   442903043   442927349   442951547   442975496   442999264   443023015
442804837   442829636   442854246   442878559   442903050   442927356   442951554   442975504   442999272   443023023
442804845   442829644   442854253   442878567   442903068   442927364   442951562   442975520   442999280   443023031


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424380848   424675494   424932614   425159944   442609616   442678850   442704888   442730123   442755294   442780011
424380889   424675585   424932754   425160025   442609707   442678868   442704896   442730149   442755302   442780029
424380897   424675601   424933018   425160140   442609731   442678876   442704904   442730156   442755310   442780037
424380962   424675643   424933307   425160207   442609764   442678884   442704912   442730172   442755328   442780045
424381333   424675817   424933349   425160264   442609772   442678892   442704920   442730198   442755336   442780052
424381390   424676005   424933356   425160272   442609871   442678900   442704938   442730206   442755344   442780060
424381416   424676054   424933596   425160298   442609988   442678918   442704946   442730222   442755351   442780078
424381820   424676187   424933638   425160330   442609996   442678934   442704953   442730230   442755369   442780086
424381846   424676211   424933646   425160413   442610002   442678942   442704961   442730248   442755377   442780094
424382091   424676534   424933687   425160546   442610069   442678959   442704979   442730255   442755385   442780102
424382208   424676716   424933703   425160553   442610101   442678967   442704987   442730263   442755393   442780110
424382240   424676740   424933828   425160561   442610150   442678975   442704995   442730271   442755401   442780128
424382398   424676880   424933950   425160595   442610168   442678983   442705018   442730289   442755419   442780136
424382448   424676914   424934032   425160777   442610242   442678991   442705026   442730305   442755427   442780144
424382562   424677136   424934248   425160900   442610333   442679007   442705034   442730313   442755435   442780151
424382729   424677334   424934347   425161015   442610390   442679015   442705042   442730321   442755443   442780169
424382778   424677425   424934636   425161155   442610408   442679023   442705059   442730339   442755450   442780177
424382919   424677599   424934677   425161171   442610515   442679049   442705067   442730347   442755468   442780193
424382976   424677649   424934735   425161189   442610580   442679056   442705075   442730354   442755476   442780201
424383008   424677664   424934909   425161213   442610655   442679064   442705083   442730362   442755484   442780219
424383099   424677698   424935161   425161346   442610879   442679072   442705109   442730370   442755500   442780235
424383123   424677854   424935229   425161361   442610895   442679080   442705117   442730388   442755518   442780268
424383164   424677938   424935310   425161510   442611083   442679098   442705125   442730396   442755526   442780276
424383180   424678084   424935419   425161536   442611182   442679106   442705133   442730404   442755534   442780284
424383206   424678266   424935666   425161866   442611786   442679114   442705141   442730412   442755542   442780292
424383263   424678332   424935831   425162153   442611893   442679130   442705158   442730420   442755559   442780300
424383362   424678456   424935856   425162211   442611901   442679148   442705166   442730438   442755567   442780318
424383412   424678795   424935880   425162351   442611927   442679163   442705174   442730446   442755575   442780326
424383594   424679165   424936045   425162377   442611968   442679171   442705182   442730453   442755583   442780334
424384014   424679215   424936102   425162641   442611976   442679189   442705190   442730461   442755591   442780342
424384071   424679256   424936243   425162773   442612008   442679205   442705208   442730479   442755609   442780359
424384121   424679272   424936276   425162898   442612016   442679213   442705216   442730487   442755617   442780367
424384139   424679306   424936342   425162955   442612073   442679221   442705224   442730503   442755625   442780375
424384329   424679454   424936391   425162997   442612164   442679247   442705232   442730511   442755633   442780383
424384352   424679637   424936417   425163326   442612586   442679254   442705240   442730529   442755641   442780391
424384394   424679652   424936490   425163631   442612693   442679262   442705257   442730537   442755658   442780409
424384428   424679744   424936540   425163714   442612719   442679270   442705265   442730545   442755666   442780417
424384444   424679975   424936581   425163797   442612735   442679288   442705273   442730552   442755674   442780425
424384451   424679983   424936680   425164076   442612925   442679296   442705281   442730560   442755682   442780433
424384477   424680072   424936797   425164225   442612941   442679304   442705299   442730578   442755690   442780441
424384584   424680114   424936813   425164506   442612990   442679312   442705307   442730586   442755708   442780458
424384618   424680130   424937084   425164548   442613097   442679320   442705315   442730610   442755716   442780466
424384667   424680221   424937142   425164597   442613196   442679338   442705323   442730628   442755724   442780474
424384691   424680536   424937159   425164621   442613220   442679346   442705331   442730636   442755732   442780482
424384816   424680676   424937233   425164647   442613253   442679353   442705349   442730644   442755740   442780490
424384865   424680858   424937316   425164654   442613287   442679361   442705356   442730651   442755757   442780508
424385243   424680924   424937332   425164795   442613337   442679379   442705364   442730669   442755765   442780516
424385375   424680999   424937621   425164811   442613352   442679387   442705372   442730677   442755773   442780524
424385417   424681013   424937720   425164837   442613642   442679395   442705380   442730693   442755799   442780532
424385425   424681211   424937837   425164886   442613691   442679403   442705398   442730701   442755807   442780540
424385524   424681302   424937902   425164910   442613725   442679437   442705406   442730719   442755815   442780557
424385722   424681377   424937944   425164944   442613881   442679445   442705414   442730727   442755823   442780565
424386167   424681484   424937951   425165107   442614129   442679452   442705422   442730735   442755849   442780573
424386530   424681583   424937985   425165123   442614236   442679460   442705430   442730743   442755856   442780581
424386621   424681773   424938215   425165180   442614319   442679478   442705448   442730750   442755864   442780599
424386688   424681922   424938256   425165354   442614392   442679486   442705455   442730768   442755872   442780607
424387215   424681930   424938587   425165362   442614434   442679494   442705463   442730776   442755898   442780615
424387314   424682250   424938629   425165396   442614467   442679502   442705471   442730784   442755906   442780623
424387462   424682490   424938934   425165404   442614475   442679510   442705489   442730792   442755914   442780631
424387520   424682607   424939056   425165412   442614574   442679528   442705497   442730800   442755922   442780649
424387660   424682680   424939122   425165420   442614749   442679536   442705513   442730818   442755930   442780656
424387678   424682706   424939726   425165453   442614756   442679544   442705521   442730826   442755948   442780664
424387686   424682870   424939866   425165503   442614863   442679551   442705547   442730834   442755963   442780672
424387710   424683068   424940245   425165719   442614889   442679569   442705554   442730842   442755971   442780680
424387892   424683134   424940278   425165727   442614947   442679577   442705562   442730859   442755989   442780698
424387918   424683357   424940427   425165735   442615035   442679585   442705570   442730867   442755997   442780714
424388015   424683449   424940450   425165792   442615068   442679593   442705588   442730875   442756003   442780722

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442804852   442829651   442854261   442878575   442903076   442927372   442951570   442975538   442999298   443023049
442804860   442829669   442854279   442878583   442903084   442927380   442951588   442975546   442999306   443023056
442804878   442829677   442854287   442878591   442903092   442927398   442951596   442975553   442999314   443023064
442804886   442829685   442854295   442878609   442903100   442927406   442951604   442975561   442999322   443023072
442804894   442829693   442854303   442878617   442903118   442927414   442951612   442975579   442999330   443023080
442804902   442829701   442854311   442878625   442903126   442927422   442951620   442975587   442999348   443023098
442804910   442829719   442854337   442878633   442903134   442927430   442951638   442975595   442999355   443023106
442804928   442829727   442854345   442878641   442903142   442927448   442951653   442975603   442999363   443023114
442804936   442829735   442854352   442878658   442903159   442927455   442951661   442975611   442999371   443023122
442804944   442829743   442854360   442878666   442903167   442927463   442951679   442975629   442999389   443023130
442804951   442829750   442854378   442878674   442903175   442927471   442951687   442975637   442999397   443023148
442804969   442829768   442854386   442878682   442903183   442927489   442951695   442975645   442999405   443023155
442804977   442829776   442854394   442878690   442903191   442927497   442951703   442975652   442999413   443023163
442804985   442829784   442854402   442878708   442903209   442927505   442951711   442975660   442999421   443023171
442804993   442829792   442854410   442878716   442903217   442927513   442951729   442975678   442999439   443023189
442805008   442829800   442854428   442878724   442903225   442927521   442951737   442975686   442999447   443023197
442805016   442829818   442854436   442878732   442903233   442927539   442951745   442975694   442999454   443023205
442805024   442829826   442854444   442878740   442903241   442927547   442951752   442975702   442999462   443023213
442805057   442829834   442854451   442878757   442903258   442927554   442951760   442975710   442999470   443023221
442805065   442829842   442854469   442878765   442903266   442927562   442951778   442975728   442999488   443023239
442805073   442829867   442854485   442878773   442903274   442927570   442951786   442975736   442999496   443023247
442805081   442829875   442854493   442878781   442903282   442927588   442951794   442975744   442999504   443023254
442805099   442829883   442854501   442878799   442903290   442927596   442951802   442975751   442999512   443023262
442805107   442829891   442854519   442878807   442903308   442927604   442951810   442975769   442999520   443023270
442805115   442829909   442854527   442878815   442903316   442927612   442951828   442975777   442999538   443023288
442805123   442829917   442854535   442878823   442903324   442927620   442951836   442975785   442999546   443023296
442805131   442829925   442854543   442878831   442903332   442927638   442951844   442975793   442999553   443023304
442805149   442829933   442854550   442878849   442903340   442927661   442951851   442975801   442999561   443023312
442805156   442829941   442854568   442878856   442903357   442927679   442951869   442975819   442999579   443023320
442805164   442829958   442854576   442878864   442903365   442927687   442951877   442975827   442999587   443023338
442805172   442829966   442854584   442878872   442903373   442927695   442951893   442975835   442999595   443023346
442805180   442829974   442854592   442878880   442903381   442927703   442951901   442975843   442999603   443023353
442805198   442829982   442854600   442878898   442903399   442927711   442951919   442975850   442999611   443023361
442805206   442829990   442854618   442878906   442903415   442927729   442951927   442975868   442999629   443023379
442805214   442830014   442854626   442878914   442903423   442927737   442951935   442975876   442999637   443023387
442805230   442830022   442854634   442878922   442903431   442927745   442951968   442975884   442999645   443023395
442805248   442830030   442854642   442878930   442903449   442927752   442951976   442975892   442999652   443023403
442805255   442830048   442854659   442878948   442903456   442927760   442951984   442975900   442999660   443023411
442805263   442830055   442854667   442878955   442903464   442927778   442951992   442975918   442999678   443023429
442805271   442830071   442854675   442878963   442903472   442927786   442952008   442975926   442999686   443023437
442805289   442830089   442854683   442878971   442903480   442927794   442952016   442975934   442999694   443023445
442805297   442830097   442854691   442878989   442903498   442927802   442952024   442975942   442999702   443023452
442805305   442830105   442854709   442878997   442903506   442927810   442952032   442975959   442999710   443023460
442805313   442830113   442854717   442879003   442903514   442927828   442952040   442975967   442999728   443023478
442805339   442830139   442854725   442879011   442903522   442927836   442952057   442975975   442999736   443023486
442805347   442830147   442854733   442879029   442903530   442927844   442952065   442975983   442999744   443023494
442805354   442830154   442854741   442879037   442903548   442927851   442952073   442975991   442999751   443023502
442805362   442830162   442854758   442879045   442903555   442927869   442952081   442976007   442999769   443023510
442805370   442830170   442854766   442879052   442903563   442927877   442952099   442976015   442999777   443023528
442805388   442830188   442854774   442879060   442903571   442927885   442952107   442976023   442999785   443023536
442805396   442830196   442854782   442879086   442903589   442927893   442952115   442976031   442999793   443023544
442805404   442830204   442854790   442879094   442903597   442927901   442952123   442976049   442999801   443023551
442805412   442830212   442854808   442879102   442903605   442927919   442952131   442976056   442999819   443023569
442805420   442830220   442854816   442879110   442903613   442927927   442952149   442976064   442999827   443023585
442805438   442830238   442854824   442879128   442903621   442927935   442952156   442976072   442999835   443023593
442805446   442830246   442854832   442879136   442903639   442927943   442952164   442976080   442999843   443023601
442805453   442830253   442854840   442879144   442903647   442927950   442952172   442976098   442999850   443023619
442805461   442830261   442854857   442879151   442903654   442927968   442952180   442976106   442999868   443023627
442805479   442830279   442854865   442879169   442903662   442927976   442952198   442976114   442999876   443023635
442805487   442830287   442854873   442879177   442903670   442927992   442952206   442976122   442999884   443023643
442805495   442830295   442854881   442879185   442903688   442928008   442952214   442976130   442999892   443023650
442805503   442830303   442854899   442879193   442903696   442928016   442952222   442976148   442999900   443023668
442805511   442830311   442854907   442879201   442903704   442928024   442952230   442976155   442999918   443023676
442805529   442830329   442854915   442879219   442903712   442928032   442952248   442976163   442999926   443023684
442805537   442830337   442854931   442879227   442903720   442928040   442952255   442976171   442999934   443023692
442805545   442830345   442854949   442879235   442903738   442928065   442952263   442976189   442999942   443023700
442805552   442830352   442854956   442879243   442903746   442928073   442952271   442976197   442999959   443023718


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424388288   424683480   424940617   425165867   442615118   442679601   442705596   442730883   442756011   442780730
424388320   424683662   424940658   425165982   442615134   442679619   442705604   442730891   442756029   442780748
424388460   424683712   424940682   425166204   442615142   442679627   442705612   442730909   442756037   442780755
424388882   424683746   424940831   425166279   442615191   442679635   442705620   442730917   442756045   442780763
424389005   424683803   424940872   425166410   442615233   442679643   442705638   442730925   442756052   442780771
424389153   424683928   424940948   425166535   442615266   442679650   442705646   442730933   442756060   442780789
424389245   424683993   424941003   425166600   442615274   442679676   442705653   442730941   442756078   442780805
424389344   424684058   424941193   425166626   442615308   442679684   442705661   442730958   442756086   442780813
424389427   424684173   424941300   425166741   442615340   442679692   442705679   442730966   442756094   442780821
424389443   424684249   424941375   425166899   442615399   442679700   442705687   442730974   442756102   442780839
424389559   424684314   424941532   425167418   442615415   442679718   442705695   442730990   442756128   442780847
424389567   424684355   424941581   425167442   442615423   442679726   442705703   442731006   442756136   442780854
424389609   424684413   424941599   425167558   442615449   442679734   442705711   442731014   442756144   442780862
424389617   424684587   424941698   425167889   442615555   442679742   442705729   442731022   442756151   442780870
424389773   424684603   424942225   425167970   442615563   442679759   442705737   442731030   442756169   442780888
424389914   424684611   424942381   425167988   442615621   442679767   442705745   442731048   442756177   442780896
424390037   424684694   424942498   425168119   442615704   442679775   442705752   442731055   442756185   442780904
424390250   424684702   424942506   425168143   442615712   442679783   442705760   442731063   442756193   442780912
424390359   424684728   424942522   425168176   442615779   442679791   442705778   442731089   442756201   442780920
424390383   424684777   424942670   425168226   442615811   442679809   442705786   442731105   442756219   442780938
424390680   424685154   424942746   425168317   442615878   442679817   442705794   442731113   442756227   442780946
424390748   424685238   424942886   425168366   442615886   442679825   442705802   442731121   442756235   442780953
424390920   424685576   424942928   425168432   442616066   442679833   442705810   442731139   442756243   442780961
424391092   424685592   424942977   425168705   442616132   442679841   442705828   442731147   442756250   442780979
424391191   424685600   424943108   425168713   442616165   442679858   442705836   442731154   442756268   442780987
424391233   424685915   424943207   425168721   442616173   442679866   442705844   442731162   442756276   442780995
424391316   424685931   424943447   425168747   442616207   442679874   442705851   442731170   442756284   442781019
424391555   424685972   424943538   425169075   442616223   442679882   442705869   442731188   442756292   442781027
424391571   424686343   424943553   425169216   442616264   442679890   442705877   442731196   442756300   442781035
424391613   424686442   424943652   425169273   442616298   442679908   442705893   442731204   442756318   442781043
424391647   424686590   424943694   425169307   442616454   442679916   442705901   442731212   442756326   442781050
424391837   424686749   424943769   425169372   442616462   442679924   442705919   442731220   442756334   442781068
424391910   424686962   424943991   425169810   442616736   442679940   442705935   442731238   442756342   442781076
424391936   424687002   424944098   425169877   442616751   442679957   442705943   442731246   442756359   442781084
424392066   424687226   424944239   425169927   442616769   442679965   442705950   442731253   442756367   442781100
424392108   424687275   424944270   425170008   442616819   442679999   442705968   442731261   442756375   442781118
424392116   424687374   424944304   425170081   442617015   442680005   442705976   442731279   442756383   442781126
424392124   424687655   424944361   425170149   442617023   442680013   442705984   442731287   442756391   442781134
424392272   424687820   424944411   425170222   442617155   442680021   442705992   442731295   442756409   442781142
424392314   424688109   424944429   425170297   442617189   442680039   442706008   442731303   442756417   442781159
424392363   424688232   424944452   425170305   442617205   442680047   442706016   442731311   442756425   442781175
424392678   424688406   424944528   425170339   442617213   442680054   442706024   442731329   442756433   442781183
424392934   424688539   424944544   425170347   442617312   442680062   442706032   442731337   442756441   442781191
424392967   424688703   424944825   425170404   442617395   442680070   442706040   442731345   442756458   442781209
424393320   424688760   424944890   425171071   442617486   442680096   442706057   442731352   442756466   442781217
424393346   424689008   424944999   425171220   442617551   442680104   442706065   442731360   442756474   442781225
424393551   424689040   424945079   425171238   442617684   442680112   442706073   442731378   442756482   442781233
424393569   424689073   424945210   425171261   442617692   442680120   442706081   442731386   442756490   442781241
424393825   424689180   424945392   425171485   442617734   442680138   442706099   442731394   442756508   442781258
424393908   424689230   424945608   425171519   442617783   442680153   442706107   442731402   442756516   442781266
424393932   424689305   424945624   425171543   442617833   442680161   442706115   442731410   442756524   442781274
424394021   424689370   424945749   425171725   442617874   442680179   442706123   442731428   442756532   442781282
424394278   424689529   424945822   425171832   442617890   442680187   442706131   442731436   442756540   442781290
424394369   424689800   424945863   425171865   442617924   442680203   442706149   442731444   442756557   442781308
424394385   424689818   424945947   425172137   442617957   442680211   442706156   442731451   442756565   442781316
424394468   424689867   424945988   425172236   442618187   442680229   442706164   442731477   442756573   442781324
424394674   424690006   424946036   425172301   442618237   442680237   442706172   442731485   442756581   442781332
424394948   424690113   424946200   425172327   442618278   442680245   442706180   442731493   442756599   442781340
424394955   424690204   424946234   425172558   442618336   442680260   442706198   442731501   442756607   442781357
424395119   424690352   424946309   425173077   442618443   442680278   442706206   442731519   442756615   442781365
424395127   424690535   424946317   425173085   442618484   442680286   442706214   442731527   442756623   442781373
424395358   424690576   424946408   425173101   442618500   442680294   442706222   442731535   442756631   442781381
424395580   424690733   424946432   425173150   442618534   442680302   442706230   442731543   442756656   442781399
424395648   424690766   424946440   425173218   442618567   442680310   442706248   442731550   442756664   442781407
424395705   424690824   424946648   425173663   442618575   442680328   442706263   442731568   442756672   442781415
424395739   424690899   424946705   425173754   442618617   442680336   442706271   442731576   442756680   442781423
424395994   424691061   424946788   425173804   442618625   442680344   442706289   442731592   442756698   442781431

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442805560   442830360   442854964   442879250   442903753   442928081   442952289   442976205   442999967   443023726
442805578   442830378   442854972   442879268   442903761   442928099   442952297   442976213   442999975   443023734
442805586   442830386   442854980   442879276   442903779   442928107   442952305   442976221   442999983   443023742
442805602   442830402   442854998   442879284   442903787   442928115   442952313   442976239   442999991   443023759
442805610   442830410   442855003   442879292   442903803   442928123   442952321   442976247   443000005   443023767
442805628   442830428   442855029   442879300   442903811   442928131   442952339   442976254   443000013   443023775
442805644   442830436   442855037   442879318   442903829   442928149   442952347   442976262   443000021   443023783
442805651   442830444   442855045   442879326   442903837   442928156   442952354   442976270   443000039   443023791
442805669   442830451   442855052   442879334   442903845   442928164   442952362   442976288   443000047   443023809
442805677   442830469   442855078   442879342   442903852   442928180   442952370   442976296   443000054   443023817
442805685   442830477   442855086   442879359   442903860   442928198   442952388   442976304   443000062   443023825
442805693   442830485   442855094   442879367   442903878   442928206   442952396   442976312   443000070   443023833
442805719   442830493   442855102   442879375   442903886   442928214   442952404   442976320   443000088   443023841
442805727   442830501   442855110   442879383   442903894   442928222   442952412   442976338   443000096   443023858
442805735   442830519   442855128   442879391   442903902   442928230   442952420   442976346   443000104   443023866
442805743   442830527   442855136   442879409   442903910   442928248   442952438   442976353   443000112   443023874
442805750   442830535   442855144   442879417   442903928   442928255   442952453   442976361   443000120   443023882
442805768   442830543   442855151   442879425   442903936   442928263   442952461   442976379   443000138   443023890
442805776   442830550   442855169   442879433   442903944   442928271   442952479   442976387   443000146   443023908
442805784   442830568   442855177   442879441   442903951   442928289   442952487   442976395   443000153   443023916
442805792   442830576   442855185   442879458   442903969   442928297   442952495   442976403   443000161   443023924
442805800   442830584   442855193   442879466   442903977   442928305   442952503   442976411   443000179   443023932
442805818   442830592   442855201   442879474   442903985   442928313   442952511   442976429   443000187   443023940
442805826   442830600   442855219   442879482   442903993   442928321   442952529   442976437   443000195   443023957
442805834   442830618   442855227   442879490   442904009   442928339   442952537   442976445   443000203   443023965
442805842   442830626   442855235   442879508   442904017   442928354   442952545   442976452   443000211   443023973
442805859   442830634   442855243   442879524   442904025   442928362   442952552   442976460   443000229   443023981
442805867   442830642   442855250   442879532   442904033   442928370   442952560   442976478   443000237   443023999
442805875   442830659   442855268   442879540   442904041   442928388   442952578   442976486   443000245   443024005
442805883   442830667   442855276   442879557   442904058   442928396   442952586   442976494   443000252   443024013
442805891   442830675   442855284   442879573   442904066   442928404   442952594   442976502   443000260   443024021
442805909   442830683   442855300   442879581   442904074   442928412   442952602   442976510   443000278   443024039
442805917   442830691   442855318   442879599   442904082   442928420   442952610   442976528   443000286   443024047
442805925   442830709   442855326   442879607   442904090   442928438   442952628   442976536   443000294   443024054
442805933   442830717   442855334   442879615   442904108   442928446   442952636   442976544   443000302   443024062
442805941   442830725   442855342   442879623   442904116   442928453   442952644   442976551   443000310   443024070
442805958   442830733   442855359   442879631   442904124   442928461   442952651   442976569   443000328   443024088
442805966   442830741   442855367   442879649   442904132   442928479   442952669   442976577   443000336   443024096
442805974   442830774   442855375   442879656   442904140   442928487   442952677   442976585   443000344   443024104
442805982   442830782   442855383   442879664   442904157   442928495   442952685   442976593   443000351   443024112
442805990   442830790   442855391   442879672   442904165   442928503   442952693   442976601   443000369   443024120
442806006   442830808   442855417   442879680   442904173   442928511   442952701   442976619   443000377   443024138
442806014   442830816   442855425   442879698   442904181   442928529   442952719   442976627   443000385   443024146
442806022   442830824   442855433   442879706   442904199   442928537   442952727   442976635   443000393   443024153
442806030   442830832   442855458   442879714   442904207   442928545   442952735   442976643   443000401   443024161
442806063   442830840   442855466   442879722   442904215   442928552   442952743   442976650   443000419   443024179
442806071   442830857   442855474   442879730   442904231   442928560   442952750   442976668   443000427   443024187
442806089   442830865   442855482   442879748   442904249   442928578   442952768   442976676   443000435   443024195
442806097   442830873   442855490   442879755   442904256   442928586   442952776   442976684   443000443   443024203
442806105   442830881   442855508   442879763   442904264   442928594   442952784   442976692   443000450   443024211
442806113   442830899   442855516   442879771   442904272   442928602   442952792   442976700   443000468   443024229
442806121   442830907   442855524   442879789   442904280   442928610   442952800   442976718   443000476   443024237
442806139   442830915   442855532   442879797   442904298   442928628   442952818   442976726   443000484   443024245
442806147   442830923   442855540   442879805   442904306   442928636   442952826   442976734   443000492   443024252
442806154   442830931   442855557   442879813   442904314   442928644   442952834   442976742   443000500   443024260
442806162   442830949   442855565   442879821   442904322   442928651   442952842   442976759   443000518   443024278
442806170   442830956   442855573   442879839   442904330   442928669   442952859   442976767   443000526   443024286
442806188   442830964   442855581   442879847   442904348   442928677   442952867   442976783   443000534   443024294
442806196   442830972   442855599   442879854   442904355   442928685   442952875   442976791   443000542   443024302
442806204   442830980   442855607   442879862   442904363   442928693   442952883   442976809   443000559   443024310
442806212   442830998   442855615   442879870   442904371   442928701   442952891   442976817   443000567   443024328
442806220   442831004   442855623   442879888   442904389   442928719   442952909   442976825   443000575   443024336
442806238   442831012   442855631   442879896   442904397   442928727   442952917   442976833   443000583   443024344
442806246   442831020   442855649   442879904   442904405   442928735   442952925   442976841   443000591   443024351
442806253   442831038   442855656   442879912   442904413   442928743   442952933   442976858   443000609   443024369
442806261   442831046   442855664   442879920   442904421   442928750   442952941   442976866   443000617   443024377
442806279   442831053   442855672   442879938   442904439   442928768   442952958   442976874   443000625   443024385


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424396059   424691376   424946838   425173812   442618831   442680351   442706297   442731600   442756706   442781449
424396067   424691442   424947182   425173820   442618989   442680369   442706305   442731618   442756714   442781456
424396596   424691657   424947273   425173838   442618997   442680377   442706313   442731626   442756722   442781464
424396695   424691830   424947620   425173887   442619029   442680385   442706321   442731634   442756730   442781472
424397263   424691889   424947679   425173895   442619045   442680393   442706339   442731642   442756748   442781480
424397370   424691988   424947729   425173994   442619094   442680401   442706347   442731659   442756755   442781498
424397438   424692176   424947810   425174133   442619102   442680419   442706354   442731667   442756763   442781506
424397636   424692333   424947836   425174604   442619110   442680427   442706362   442731675   442756771   442781514
424397974   424692754   424947844   425174661   442619136   442680435   442706370   442731709   442756789   442781522
424398105   424692895   424947950   425174851   442619185   442680443   442706388   442731717   442756797   442781530
424398121   424692903   424948081   425175015   442619219   442680450   442706396   442731725   442756805   442781548
424398287   424693018   424948131   425175072   442619243   442680468   442706404   442731733   442756813   442781555
424398337   424693026   424948156   425175221   442619250   442680476   442706412   442731758   442756821   442781563
424398428   424693141   424948255   425175312   442619417   442680484   442706420   442731766   442756839   442781571
424398436   424693216   424948263   425175353   442619474   442680492   442706438   442731774   442756847   442781589
424398451   424693539   424948271   425175718   442619524   442680500   442706453   442731782   442756854   442781597
424398857   424693588   424948321   425175809   442619540   442680526   442706461   442731790   442756862   442781605
424399103   424693729   424948487   425175858   442619615   442680534   442706479   442731808   442756870   442781613
424399145   424693851   424948776   425176054   442619664   442680542   442706487   442731816   442756888   442781621
424399418   424693935   424948842   425176245   442619672   442680559   442706503   442731824   442756896   442781639
424399749   424693943   424949097   425176278   442619706   442680567   442706511   442731832   442756904   442781647
424399806   424693992   424949121   425176344   442620035   442680575   442706529   442731840   442756912   442781654
424399830   424694149   424949303   425176351   442620068   442680583   442706537   442731857   442756920   442781662
424399913   424694271   424949550   425176401   442620118   442680591   442706545   442731865   442756938   442781670
424400000   424694412   424949634   425176468   442620209   442680617   442706552   442731873   442756946   442781688
424400380   424694438   424949741   425176518   442620266   442680625   442706560   442731899   442756953   442781696
424400570   424694644   424949873   425176625   442620324   442680633   442706578   442731907   442756961   442781704
424400935   424694677   424949899   425176682   442620381   442680641   442706586   442731923   442756979   442781712
424401180   424694909   424950285   425176740   442620472   442680658   442706594   442731931   442756987   442781720
424401404   424695351   424950475   425177029   442620761   442680666   442706602   442731949   442756995   442781738
424401412   424695377   424950566   425177110   442620787   442680682   442706610   442731956   442757001   442781746
424401594   424695443   424950764   425177177   442620894   442680690   442706628   442731964   442757019   442781753
424401685   424695666   424950772   425177219   442620902   442680708   442706636   442731972   442757035   442781761
424401719   424695690   424950822   425177276   442621009   442680724   442706651   442731980   442757043   442781779
424401826   424696045   424951077   425177417   442621041   442680732   442706669   442732004   442757050   442781787
424401875   424696433   424951127   425177581   442621181   442680740   442706685   442732012   442757068   442781795
424401925   424696532   424951150   425177722   442621280   442680757   442706693   442732020   442757076   442781803
424401974   424696540   424951598   425177763   442621298   442680765   442706701   442732038   442757084   442781811
424402030   424696854   424951606   425177854   442621322   442680773   442706719   442732046   442757092   442781829
424402444   424696896   424951697   425177870   442621330   442680799   442706727   442732053   442757100   442781837
424402469   424697183   424951804   425177979   442621348   442680807   442706735   442732061   442757118   442781845
424402519   424697324   424951861   425178191   442621678   442680815   442706743   442732079   442757126   442781852
424402642   424697365   424951952   425178241   442621694   442680823   442706750   442732087   442757134   442781860
424402733   424697423   424951960   425178258   442621769   442680831   442706768   442732095   442757142   442781878
424402790   424697506   424952000   425178415   442621835   442680849   442706776   442732103   442757159   442781886
424402808   424698090   424952034   425178423   442622015   442680856   442706792   442732111   442757167   442781894
424402931   424698132   424952182   425178498   442622049   442680864   442706800   442732129   442757175   442781902
424402949   424698140   424952240   425178605   442622189   442680872   442706818   442732137   442757183   442781910
424403012   424698207   424952356   425178753   442622270   442680880   442706826   442732145   442757191   442781928
424403079   424698314   424952463   425178779   442622379   442680914   442706834   442732152   442757209   442781936
424403152   424698330   424952521   425178829   442622403   442680922   442706842   442732160   442757217   442781944
424403590   424698454   424952570   425178837   442622429   442680930   442706859   442732178   442757225   442781951
424403988   424698504   424952604   425178852   442622460   442680948   442706867   442732186   442757233   442781969
424404051   424698579   424952646   425179249   442622510   442680955   442706875   442732194   442757241   442781977
424404077   424698611   424952737   425179389   442622775   442680963   442706883   442732202   442757258   442781985
424404101   424698769   424952752   425179637   442622890   442680971   442706891   442732210   442757266   442781993
424404184   424698876   424952810   425179702   442622908   442680989   442706909   442732228   442757274   442782009
424404432   424699189   424952984   425179868   442622916   442680997   442706917   442732236   442757282   442782033
424404473   424699221   424953032   425179967   442622932   442681029   442706925   442732244   442757290   442782041
424404549   424699445   424953164   425180015   442622940   442681037   442706933   442732251   442757308   442782058
424404630   424699478   424953305   425180023   442623195   442681045   442706941   442732269   442757316   442782066
424404812   424699502   424953362   425180221   442623245   442681052   442706958   442732277   442757324   442782074
424405124   424699536   424953396   425180247   442623328   442681060   442706966   442732285   442757332   442782082
424405322   424699544   424953438   425180320   442623435   442681078   442706982   442732293   442757340   442782090
424405330   424699650   424953487   425180338   442623567   442681086   442706990   442732301   442757357   442782108
424405371   424699676   424953784   425180395   442623799   442681094   442707006   442732319   442757365   442782116
424405447   424699684   424953826   425180544   442623823   442681102   442707014   442732327   442757373   442782124

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442806287   442831061   442855680   442879946   442904447   442928776   442952966   442976882   443000633   443024393
442806295   442831079   442855698   442879953   442904454   442928784   442952974   442976890   443000641   443024401
442806303   442831087   442855714   442879961   442904462   442928792   442952982   442976908   443000658   443024419
442806311   442831095   442855722   442879979   442904470   442928800   442952990   442976916   443000666   443024427
442806329   442831103   442855730   442879995   442904488   442928818   442953006   442976924   443000674   443024435
442806337   442831111   442855748   442880001   442904496   442928826   442953014   442976932   443000682   443024443
442806345   442831129   442855755   442880019   442904504   442928834   442953022   442976940   443000690   443024450
442806360   442831137   442855763   442880027   442904512   442928842   442953030   442976957   443000708   443024468
442806378   442831145   442855771   442880035   442904520   442928859   442953048   442976965   443000716   443024476
442806386   442831152   442855789   442880043   442904538   442928867   442953055   442976973   443000724   443024484
442806394   442831160   442855797   442880050   442904546   442928875   442953063   442976981   443000732   443024492
442806402   442831178   442855805   442880068   442904553   442928883   442953071   442976999   443000740   443024500
442806410   442831186   442855813   442880076   442904561   442928891   442953089   442977005   443000757   443024518
442806428   442831194   442855821   442880084   442904579   442928909   442953097   442977013   443000765   443024526
442806436   442831202   442855839   442880092   442904587   442928917   442953105   442977021   443000773   443024534
442806444   442831210   442855854   442880100   442904595   442928925   442953113   442977039   443000781   443024542
442806451   442831228   442855862   442880118   442904603   442928933   442953121   442977047   443000799   443024559
442806469   442831236   442855870   442880126   442904611   442928941   442953139   442977054   443000807   443024567
442806477   442831244   442855888   442880134   442904629   442928958   442953147   442977062   443000815   443024575
442806485   442831251   442855896   442880142   442904637   442928966   442953154   442977070   443000823   443024583
442806493   442831269   442855904   442880159   442904645   442928974   442953162   442977088   443000849   443024591
442806501   442831277   442855912   442880167   442904652   442928982   442953170   442977096   443000856   443024609
442806519   442831285   442855920   442880175   442904660   442928990   442953188   442977104   443000864   443024617
442806527   442831293   442855938   442880183   442904678   442929006   442953196   442977112   443000872   443024625
442806535   442831301   442855946   442880191   442904686   442929014   442953204   442977120   443000880   443024633
442806543   442831319   442855953   442880209   442904694   442929022   442953212   442977138   443000898   443024641
442806550   442831327   442855961   442880217   442904702   442929030   442953220   442977146   443000906   443024658
442806568   442831335   442855979   442880225   442904710   442929048   442953238   442977153   443000914   443024666
442806576   442831343   442855987   442880233   442904728   442929055   442953246   442977161   443000922   443024674
442806584   442831350   442855995   442880241   442904736   442929063   442953253   442977179   443000930   443024682
442806592   442831368   442856001   442880258   442904744   442929071   442953261   442977187   443000948   443024690
442806600   442831376   442856019   442880266   442904751   442929089   442953279   442977195   443000955   443024708
442806618   442831384   442856027   442880274   442904769   442929097   442953287   442977203   443000963   443024716
442806626   442831392   442856035   442880282   442904777   442929105   442953295   442977211   443000971   443024724
442806634   442831400   442856043   442880290   442904785   442929113   442953303   442977229   443000989   443024732
442806642   442831418   442856050   442880308   442904793   442929121   442953311   442977237   443000997   443024740
442806659   442831426   442856068   442880316   442904801   442929139   442953329   442977245   443001003   443024757
442806667   442831434   442856076   442880324   442904819   442929147   442953337   442977252   443001011   443024765
442806675   442831442   442856084   442880332   442904827   442929154   442953345   442977260   443001029   443024773
442806683   442831459   442856092   442880340   442904835   442929162   442953352   442977278   443001037   443024781
442806709   442831475   442856100   442880357   442904843   442929170   442953360   442977286   443001045   443024799
442806717   442831483   442856118   442880365   442904850   442929188   442953378   442977294   443001052   443024807
442806725   442831491   442856126   442880373   442904868   442929196   442953386   442977302   443001060   443024815
442806733   442831517   442856134   442880381   442904876   442929204   442953394   442977310   443001078   443024823
442806741   442831525   442856142   442880399   442904884   442929212   442953402   442977328   443001086   443024831
442806758   442831533   442856159   442880407   442904892   442929220   442953410   442977336   443001094   443024849
442806766   442831541   442856167   442880415   442904900   442929238   442953428   442977344   443001102   443024856
442806774   442831558   442856175   442880423   442904918   442929246   442953436   442977351   443001110   443024864
442806782   442831566   442856183   442880431   442904926   442929253   442953444   442977369   443001128   443024872
442806790   442831574   442856191   442880449   442904934   442929261   442953451   442977377   443001136   443024880
442806808   442831582   442856209   442880456   442904942   442929279   442953469   442977385   443001144   443024898
442806816   442831590   442856217   442880464   442904959   442929287   442953477   442977393   443001151   443024906
442806824   442831608   442856225   442880472   442904967   442929295   442953485   442977401   443001169   443024914
442806832   442831616   442856233   442880480   442904975   442929303   442953493   442977419   443001177   443024922
442806840   442831624   442856241   442880498   442904983   442929311   442953501   442977427   443001185   443024930
442806857   442831632   442856258   442880506   442904991   442929337   442953519   442977435   443001193   443024948
442806865   442831640   442856266   442880514   442905006   442929345   442953527   442977443   443001201   443024955
442806873   442831657   442856274   442880522   442905014   442929352   442953535   442977450   443001219   443024963
442806881   442831665   442856282   442880548   442905022   442929360   442953543   442977468   443001227   443024971
442806899   442831673   442856290   442880555   442905030   442929378   442953550   442977476   443001235   443024989
442806907   442831681   442856308   442880563   442905048   442929386   442953568   442977484   443001243   443024997
442806915   442831699   442856316   442880571   442905055   442929394   442953576   442977492   443001250   443025002
442806923   442831707   442856324   442880589   442905063   442929402   442953584   442977500   443001268   443025010
442806931   442831715   442856332   442880597   442905071   442929410   442953592   442977518   443001276   443025028
442806949   442831723   442856340   442880605   442905089   442929428   442953600   442977526   443001284   443025036
442806956   442831731   442856357   442880613   442905097   442929436   442953618   442977534   443001292   443025044
442806964   442831749   442856365   442880621   442905105   442929444   442953626   442977542   443001300   443025051


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424405462   424699718   424953842   425180635   442623831   442681110   442707022   442732343   442757381   442782132
424405512   424699767   424953891   425180643   442623872   442681128   442707030   442732350   442757399   442782140
424405579   424699783   424953974   425180650   442623906   442681136   442707048   442732368   442757407   442782157
424405702   424699791   424953990   425180718   442624011   442681144   442707055   442732384   442757415   442782165
424405744   424699882   424954071   425180726   442624110   442681151   442707063   442732392   442757423   442782173
424405959   424699957   424954287   425180890   442624136   442681177   442707071   442732418   442757431   442782199
424406015   424700094   424954352   425180940   442624177   442681185   442707089   442732426   442757449   442782207
424406056   424700151   424954378   425180957   442624284   442681193   442707097   442732434   442757456   442782215
424406494   424700615   424954410   425180973   442624334   442681219   442707105   442732442   442757464   442782223
424406866   424700649   424954899   425181054   442624359   442681227   442707113   442732459   442757472   442782231
424406940   424700714   424954907   425181153   442624375   442681235   442707121   442732467   442757480   442782249
424406981   424700896   424955003   425181187   442624383   442681243   442707139   442732475   442757506   442782264
424407062   424701043   424955078   425181229   442624391   442681250   442707147   442732483   442757514   442782272
424407138   424701175   424955136   425181245   442624417   442681268   442707154   442732491   442757522   442782280
424407179   424701217   424955219   425181278   442624458   442681276   442707162   442732509   442757530   442782298
424407187   424701357   424955268   425181344   442624474   442681284   442707170   442732517   442757548   442782306
424407211   424701464   424955318   425181443   442624664   442681292   442707188   442732525   442757555   442782314
424407237   424701548   424955391   425181492   442624706   442681300   442707196   442732533   442757563   442782322
424407260   424701704   424955409   425181641   442624813   442681318   442707204   442732541   442757571   442782330
424407328   424702009   424955425   425181757   442624862   442681326   442707212   442732574   442757589   442782348
424407450   424702041   424955532   425181773   442624870   442681334   442707220   442732582   442757605   442782355
424407716   424702058   424955540   425181864   442624979   442681342   442707238   442732590   442757613   442782363
424407773   424702082   424955755   425182003   442624995   442681359   442707246   442732608   442757621   442782371
424407880   424702090   424955912   425182029   442625117   442681367   442707253   442732624   442757639   442782389
424407997   424702181   424955953   425182151   442625125   442681375   442707261   442732632   442757647   442782397
424408144   424702207   424956274   425182235   442625141   442681383   442707279   442732640   442757654   442782405
424408177   424702306   424956365   425182375   442625299   442681391   442707287   442732657   442757662   442782413
424408268   424702405   424956639   425182425   442625489   442681417   442707295   442732673   442757670   442782421
424408797   424702439   424956704   425182433   442625505   442681425   442707303   442732681   442757688   442782439
424408888   424702611   424956738   425182482   442625513   442681433   442707329   442732699   442757696   442782447
424409134   424702819   424956969   425182516   442625539   442681441   442707337   442732707   442757712   442782454
424409183   424702850   424957009   425182573   442625638   442681458   442707345   442732715   442757720   442782462
424409191   424702876   424957025   425182730   442625679   442681466   442707352   442732731   442757738   442782470
424409217   424702942   424957132   425182946   442625703   442681474   442707360   442732749   442757746   442782488
424409431   424702959   424957207   425183035   442625752   442681482   442707378   442732756   442757753   442782496
424409688   424703049   424957355   425183068   442625828   442681490   442707386   442732764   442757761   442782504
424410280   424703130   424957371   425183076   442625877   442681508   442707394   442732772   442757779   442782520
424410728   424703221   424957496   425183142   442625885   442681524   442707402   442732780   442757787   442782538
424410769   424703528   424957546   425183175   442625976   442681532   442707410   442732798   442757795   442782546
424410801   424703585   424957587   425183357   442626016   442681540   442707428   442732814   442757803   442782553
424410843   424703668   424957629   425183449   442626040   442681557   442707436   442732822   442757811   442782561
424410967   424703767   424957686   425183522   442626115   442681565   442707444   442732830   442757829   442782579
424411106   424703890   424957751   425183787   442626289   442681573   442707451   442732848   442757837   442782587
424411148   424703932   424957843   425183928   442626297   442681581   442707469   442732863   442757845   442782595
424411338   424704021   424957884   425184124   442626362   442681599   442707477   442732871   442757852   442782611
424411353   424704039   424957918   425184165   442626396   442681607   442707485   442732889   442757860   442782629
424411379   424704328   424957934   425184389   442626446   442681615   442707493   442732897   442757878   442782637
424411403   424704377   424957991   425184447   442626529   442681623   442707501   442732905   442757886   442782645
424411460   424704625   424958312   425184488   442626545   442681649   442707519   442732913   442757902   442782652
424411510   424704740   424958361   425184553   442626602   442681656   442707527   442732921   442757910   442782660
424411684   424704765   424958429   425184587   442626610   442681664   442707535   442732939   442757928   442782678
424411759   424704807   424958445   425184595   442626644   442681672   442707543   442732947   442757936   442782686
424411932   424704831   424958528   425184991   442626651   442681680   442707550   442732954   442757944   442782694
424411957   424704849   424958585   425185048   442626677   442681706   442707568   442732962   442757951   442782702
424412500   424704864   424958601   425185238   442626685   442681714   442707576   442732970   442757969   442782710
424412633   424704922   424959013   425185287   442626719   442681722   442707584   442732988   442757977   442782728
424412773   424705010   424959195   425185428   442626826   442681730   442707592   442732996   442757985   442782736
424412880   424705226   424959328   425185576   442626875   442681748   442707600   442733002   442757993   442782744
424413011   424705366   424959401   425185675   442626925   442681755   442707618   442733010   442758009   442782751
424413201   424705382   424959567   425185683   442627154   442681763   442707626   442733028   442758017   442782769
424413326   424705481   424959633   425185717   442627162   442681771   442707642   442733036   442758025   442782777
424413334   424705523   424959740   425185741   442627246   442681789   442707659   442733051   442758033   442782785
424413359   424705564   424959906   425185840   442627352   442681797   442707667   442733069   442758058   442782793
424414043   424705614   424959955   425185865   442627360   442681805   442707683   442733077   442758066   442782801
424414233   424705747   424960151   425185907   442627428   442681813   442707709   442733085   442758074   442782819
424414282   424706018   424960169   425185931   442627501   442681847   442707717   442733093   442758082   442782827
424414431   424706075   424960193   425185949   442627667   442681854   442707725   442733101   442758090   442782835

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442806972   442831756   442856373   442880639   442905113   442929451   442953634   442977559   443001318   443025069
442806980   442831764   442856381   442880647   442905121   442929469   442953642   442977567   443001326   443025077
442806998   442831772   442856399   442880654   442905139   442929477   442953659   442977575   443001334   443025085
442807004   442831780   442856407   442880662   442905147   442929485   442953667   442977583   443001342   443025093
442807012   442831798   442856415   442880670   442905154   442929493   442953675   442977591   443001359   443025101
442807020   442831806   442856423   442880688   442905162   442929501   442953683   442977609   443001367   443025119
442807038   442831814   442856431   442880696   442905170   442929519   442953691   442977617   443001375   443025127
442807046   442831822   442856449   442880704   442905188   442929527   442953709   442977625   443001383   443025135
442807053   442831830   442856456   442880712   442905196   442929535   442953717   442977633   443001391   443025143
442807061   442831848   442856464   442880720   442905204   442929543   442953725   442977641   443001409   443025150
442807079   442831855   442856472   442880738   442905212   442929550   442953733   442977658   443001417   443025168
442807087   442831863   442856480   442880746   442905220   442929568   442953741   442977666   443001425   443025176
442807095   442831871   442856498   442880753   442905238   442929576   442953758   442977674   443001433   443025184
442807103   442831889   442856506   442880761   442905246   442929584   442953766   442977682   443001441   443025192
442807111   442831897   442856514   442880779   442905253   442929592   442953774   442977690   443001458   443025200
442807129   442831905   442856522   442880787   442905261   442929600   442953782   442977708   443001466   443025218
442807137   442831913   442856530   442880795   442905279   442929618   442953790   442977716   443001474   443025226
442807145   442831921   442856548   442880803   442905287   442929626   442953808   442977724   443001482   443025234
442807152   442831939   442856555   442880811   442905295   442929634   442953824   442977732   443001490   443025242
442807160   442831947   442856563   442880829   442905303   442929642   442953832   442977740   443001508   443025259
442807178   442831954   442856571   442880837   442905311   442929659   442953840   442977757   443001516   443025267
442807186   442831962   442856589   442880852   442905329   442929667   442953857   442977765   443001524   443025275
442807194   442831970   442856597   442880860   442905337   442929675   442953865   442977773   443001532   443025283
442807202   442831988   442856605   442880878   442905345   442929683   442953873   442977781   443001540   443025291
442807210   442831996   442856613   442880886   442905352   442929691   442953881   442977799   443001557   443025309
442807228   442832002   442856621   442880894   442905360   442929709   442953899   442977807   443001565   443025317
442807236   442832010   442856639   442880902   442905378   442929717   442953907   442977815   443001573   443025325
442807244   442832028   442856647   442880910   442905386   442929725   442953915   442977823   443001581   443025333
442807251   442832036   442856654   442880928   442905394   442929733   442953923   442977831   443001599   443025341
442807269   442832044   442856662   442880936   442905402   442929741   442953931   442977849   443001607   443025358
442807277   442832051   442856670   442880944   442905410   442929758   442953949   442977856   443001615   443025366
442807285   442832069   442856688   442880951   442905428   442929766   442953956   442977864   443001623   443025374
442807293   442832077   442856696   442880969   442905436   442929774   442953964   442977872   443001631   443025382
442807301   442832085   442856712   442880977   442905444   442929782   442953972   442977880   443001649   443025390
442807319   442832093   442856720   442880985   442905451   442929790   442953980   442977898   443001656   443025408
442807327   442832101   442856738   442880993   442905469   442929808   442953998   442977906   443001664   443025416
442807335   442832119   442856746   442881009   442905477   442929816   442954004   442977914   443001672   443025424
442807343   442832127   442856753   442881017   442905485   442929824   442954012   442977922   443001680   443025432
442807350   442832135   442856761   442881025   442905493   442929832   442954020   442977930   443001698   443025440
442807368   442832143   442856779   442881041   442905501   442929840   442954046   442977948   443001706   443025457
442807376   442832168   442856787   442881066   442905519   442929857   442954053   442977955   443001714   443025465
442807384   442832176   442856795   442881074   442905527   442929865   442954061   442977963   443001722   443025473
442807392   442832184   442856803   442881082   442905535   442929873   442954079   442977971   443001730   443025481
442807400   442832192   442856811   442881090   442905543   442929881   442954087   442977989   443001748   443025499
442807418   442832200   442856829   442881108   442905550   442929899   442954095   442977997   443001755   443025507
442807426   442832218   442856837   442881116   442905568   442929907   442954103   442978003   443001763   443025515
442807434   442832226   442856845   442881124   442905576   442929915   442954111   442978011   443001771   443025523
442807442   442832234   442856852   442881132   442905584   442929923   442954129   442978029   443001789   443025531
442807459   442832242   442856860   442881140   442905592   442929931   442954137   442978037   443001797   443025549
442807467   442832259   442856878   442881157   442905600   442929949   442954145   442978045   443001805   443025556
442807475   442832267   442856886   442881165   442905618   442929956   442954152   442978052   443001813   443025564
442807483   442832275   442856894   442881173   442905626   442929964   442954160   442978060   443001821   443025572
442807491   442832283   442856902   442881181   442905634   442929980   442954178   442978078   443001839   443025580
442807509   442832291   442856910   442881199   442905642   442929998   442954186   442978086   443001847   443025598
442807517   442832309   442856928   442881207   442905659   442930004   442954194   442978094   443001854   443025606
442807525   442832317   442856936   442881215   442905667   442930012   442954202   442978102   443001862   443025614
442807533   442832325   442856944   442881223   442905675   442930020   442954210   442978110   443001870   443025622
442807541   442832333   442856951   442881231   442905683   442930038   442954228   442978128   443001888   443025630
442807558   442832341   442856969   442881249   442905691   442930046   442954236   442978136   443001896   443025648
442807566   442832358   442856977   442881256   442905709   442930053   442954244   442978144   443001904   443025655
442807574   442832366   442856985   442881264   442905717   442930061   442954251   442978151   443001912   443025663
442807582   442832374   442856993   442881272   442905725   442930079   442954269   442978169   443001920   443025671
442807590   442832382   442857009   442881280   442905733   442930087   442954277   442978177   443001938   443025689
442807608   442832390   442857017   442881298   442905741   442930095   442954285   442978185   443001946   443025697
442807616   442832408   442857033   442881306   442905758   442930103   442954293   442978193   443001953   443025705
442807624   442832416   442857041   442881314   442905766   442930111   442954301   442978201   443001961   443025713
442807632   442832424   442857058   442881322   442905774   442930129   442954319   442978219   443001979   443025721


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424414498   424706281   424960243   425185980   442627683   442681870   442707733   442733119   442758108   442782850
424414548   424706372   424960268   425186020   442627766   442681888   442707741   442733127   442758116   442782868
424414852   424706380   424960292   425186178   442627782   442681904   442707758   442733135   442758124   442782876
424414985   424706398   424960409   425186251   442627865   442681912   442707766   442733143   442758140   442782884
424415040   424706521   424960607   425186293   442627873   442681920   442707774   442733150   442758157   442782892
424415446   424706679   424960615   425186368   442627899   442681938   442707782   442733168   442758165   442782900
424415453   424706869   424960672   425186590   442627907   442681946   442707790   442733176   442758173   442782918
424415651   424706943   424960722   425186616   442627964   442681953   442707808   442733184   442758181   442782926
424415933   424707164   424960730   425186624   442627972   442681961   442707816   442733192   442758199   442782934
424416287   424707339   424960862   425186673   442627980   442681979   442707824   442733218   442758207   442782942
424416394   424707495   424960979   425186749   442628095   442681995   442707832   442733226   442758215   442782959
424416576   424707594   424961001   425186764   442628228   442682001   442707840   442733234   442758223   442782967
424416683   424707651   424961142   425186780   442628236   442682019   442707857   442733242   442758231   442782975
424416857   424707677   424961183   425186913   442628269   442682027   442707865   442733259   442758249   442782983
424416865   424707727   424961266   425186947   442628350   442682035   442707873   442733267   442758256   442782991
424416980   424707792   424961308   425187051   442628368   442682043   442707881   442733275   442758264   442783007
424417079   424707834   424961373   425187291   442628384   442682050   442707899   442733283   442758272   442783015
424417194   424707909   424961381   425187366   442628483   442682076   442707907   442733291   442758280   442783023
424417459   424707917   424961530   425187457   442628517   442682084   442707915   442733309   442758298   442783049
424417665   424708139   424961571   425187473   442628533   442682092   442707931   442733317   442758306   442783056
424417715   424708170   424961639   425187523   442628566   442682118   442707949   442733325   442758314   442783072
424417855   424708204   424961746   425187853   442628632   442682134   442707956   442733333   442758322   442783080
424417954   424708329   424961753   425187861   442628640   442682142   442707964   442733341   442758348   442783098
424418499   424708519   424961993   425187895   442628772   442682159   442707972   442733366   442758355   442783106
424418598   424708733   424962041   425187986   442628806   442682167   442707980   442733374   442758363   442783114
424418655   424708782   424962314   425188000   442629093   442682175   442707998   442733382   442758371   442783122
424418721   424708832   424962363   425188034   442629127   442682183   442708004   442733390   442758389   442783130
424418796   424708865   424962439   425188067   442629143   442682191   442708012   442733408   442758405   442783155
424418895   424708972   424962538   425188349   442629176   442682209   442708020   442733416   442758413   442783163
424418960   424709194   424962629   425188513   442629267   442682217   442708038   442733424   442758421   442783171
424419174   424709202   424962660   425188554   442629341   442682225   442708046   442733432   442758439   442783189
424419224   424709236   424962744   425188810   442629416   442682233   442708061   442733440   442758447   442783197
424419281   424709301   424962876   425188885   442629556   442682241   442708079   442733457   442758454   442783205
424419422   424709608   424963056   425189016   442629598   442682258   442708087   442733465   442758462   442783213
424419646   424709699   424963064   425189065   442629606   442682266   442708095   442733473   442758470   442783221
424419687   424709806   424963098   425189230   442629655   442682274   442708103   442733499   442758488   442783239
424419695   424710036   424963148   425189362   442629788   442682282   442708111   442733507   442758496   442783247
424419760   424710218   424963163   425189370   442629937   442682290   442708129   442733515   442758504   442783254
424419935   424710226   424963213   425189560   442630026   442682308   442708137   442733523   442758512   442783262
424419976   424710358   424963296   425189578   442630034   442682324   442708145   442733531   442758520   442783270
424420057   424710457   424963361   425189602   442630091   442682332   442708152   442733549   442758538   442783288
424420099   424710663   424963510   425189917   442630109   442682340   442708160   442733556   442758546   442783296
424420107   424710671   424963767   425189933   442630307   442682357   442708178   442733564   442758553   442783304
424420578   424710770   424963890   425190006   442630323   442682365   442708186   442733572   442758561   442783312
424420933   424711000   424964260   425190048   442630331   442682373   442708194   442733580   442758579   442783338
424421113   424711208   424964484   425190097   442630349   442682381   442708202   442733598   442758587   442783346
424421196   424711307   424964559   425190139   442630430   442682399   442708210   442733606   442758595   442783353
424421261   424711406   424964666   425190154   442630836   442682407   442708228   442733614   442758603   442783379
424421410   424711430   424964815   425190295   442630893   442682415   442708236   442733622   442758611   442783387
424421600   424711513   424964864   425190337   442630935   442682423   442708244   442733648   442758629   442783395
424421626   424711554   424965119   425190360   442631289   442682431   442708251   442733655   442758645   442783403
424421824   424712099   424965192   425190394   442631438   442682456   442708269   442733663   442758652   442783429
424421865   424712164   424965440   425190428   442631487   442682464   442708285   442733671   442758660   442783437
424421923   424712214   424965473   425190493   442631511   442682472   442708293   442733689   442758678   442783445
424422202   424712297   424965663   425190535   442631560   442682480   442708301   442733697   442758686   442783452
424422244   424712362   424965697   425190840   442631636   442682498   442708319   442733705   442758694   442783460
424422251   424712420   424965846   425190873   442631743   442682506   442708327   442733713   442758702   442783478
424422319   424712487   424965879   425191004   442631792   442682514   442708343   442733721   442758710   442783486
424422350   424712529   424965945   425191152   442631859   442682522   442708350   442733739   442758728   442783494
424422426   424712651   424965994   425191301   442631917   442682530   442708368   442733747   442758736   442783502
424422517   424712958   424966000   425191327   442631966   442682548   442708376   442733754   442758744   442783510
424422525   424712966   424966067   425191509   442631974   442682555   442708392   442733762   442758751   442783528
424422566   424713568   424966133   425191624   442632048   442682563   442708400   442733770   442758769   442783536
424422624   424713741   424966349   425191699   442632055   442682571   442708418   442733788   442758777   442783544
424422947   424713774   424966398   425191913   442632071   442682589   442708426   442733796   442758785   442783551
424422962   424713899   424966554   425192101   442632121   442682597   442708434   442733804   442758793   442783569
424423077   424713972   424966588   425192176   442632147   442682605   442708442   442733812   442758801   442783577

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442807640   442832432   442857066   442881330   442905782   442930137   442954327   442978227   443001987   443025739
442807657   442832440   442857082   442881348   442905790   442930145   442954335   442978235   443001995   443025747
442807665   442832457   442857090   442881355   442905808   442930152   442954343   442978243   443002001   443025754
442807673   442832465   442857108   442881363   442905816   442930160   442954350   442978250   443002019   443025762
442807681   442832473   442857116   442881371   442905824   442930178   442954368   442978268   443002027   443025770
442807699   442832481   442857124   442881389   442905832   442930186   442954376   442978276   443002035   443025788
442807707   442832499   442857132   442881397   442905840   442930194   442954384   442978284   443002043   443025796
442807715   442832507   442857140   442881405   442905857   442930202   442954392   442978292   443002050   443025804
442807723   442832515   442857157   442881413   442905865   442930210   442954400   442978300   443002068   443025812
442807731   442832523   442857165   442881421   442905873   442930228   442954418   442978318   443002076   443025820
442807749   442832531   442857173   442881439   442905881   442930236   442954426   442978326   443002084   443025838
442807756   442832549   442857181   442881447   442905899   442930244   442954434   442978334   443002092   443025846
442807764   442832556   442857199   442881454   442905907   442930251   442954442   442978342   443002100   443025853
442807772   442832564   442857207   442881470   442905923   442930269   442954459   442978359   443002118   443025861
442807780   442832572   442857215   442881488   442905931   442930277   442954467   442978367   443002126   443025879
442807798   442832580   442857223   442881496   442905949   442930285   442954475   442978375   443002134   443025887
442807806   442832598   442857231   442881504   442905956   442930293   442954483   442978383   443002142   443025895
442807814   442832606   442857249   442881512   442905964   442930301   442954491   442978391   443002159   443025903
442807822   442832614   442857256   442881520   442905972   442930319   442954509   442978409   443002167   443025911
442807830   442832622   442857264   442881538   442905980   442930327   442954517   442978417   443002175   443025929
442807848   442832630   442857272   442881546   442905998   442930335   442954525   442978425   443002183   443025937
442807855   442832648   442857280   442881553   442906004   442930343   442954533   442978433   443002191   443025945
442807863   442832655   442857298   442881561   442906012   442930350   442954558   442978441   443002209   443025952
442807871   442832663   442857306   442881579   442906020   442930368   442954566   442978458   443002217   443025960
442807889   442832671   442857314   442881587   442906038   442930376   442954574   442978466   443002225   443025978
442807897   442832689   442857330   442881603   442906046   442930384   442954582   442978474   443002233   443025986
442807905   442832697   442857355   442881611   442906053   442930392   442954590   442978482   443002241   443025994
442807913   442832705   442857363   442881629   442906061   442930400   442954608   442978490   443002258   443026000
442807921   442832713   442857371   442881637   442906079   442930418   442954616   442978508   443002266   443026018
442807939   442832721   442857389   442881645   442906087   442930426   442954624   442978516   443002274   443026026
442807947   442832739   442857397   442881652   442906095   442930434   442954632   442978524   443002282   443026034
442807954   442832747   442857405   442881660   442906103   442930442   442954640   442978532   443002290   443026042
442807962   442832754   442857413   442881678   442906111   442930459   442954657   442978540   443002308   443026059
442807970   442832762   442857421   442881686   442906129   442930467   442954665   442978557   443002316   443026067
442807988   442832770   442857439   442881694   442906137   442930475   442954673   442978565   443002324   443026075
442807996   442832788   442857447   442881702   442906145   442930483   442954681   442978573   443002332   443026083
442808002   442832796   442857454   442881710   442906152   442930491   442954699   442978581   443002340   443026091
442808010   442832804   442857462   442881728   442906160   442930509   442954707   442978599   443002357   443026109
442808028   442832812   442857470   442881736   442906178   442930517   442954715   442978607   443002365   443026117
442808036   442832820   442857488   442881744   442906186   442930525   442954723   442978615   443002373   443026125
442808044   442832838   442857496   442881751   442906194   442930533   442954731   442978623   443002381   443026133
442808051   442832846   442857504   442881769   442906202   442930541   442954749   442978631   443002399   443026141
442808069   442832853   442857512   442881777   442906210   442930558   442954756   442978649   443002407   443026158
442808077   442832861   442857520   442881785   442906228   442930566   442954772   442978656   443002415   443026166
442808085   442832879   442857538   442881793   442906236   442930574   442954780   442978664   443002423   443026174
442808093   442832887   442857546   442881801   442906244   442930590   442954798   442978672   443002431   443026182
442808101   442832895   442857553   442881819   442906251   442930608   442954806   442978680   443002449   443026190
442808119   442832903   442857561   442881827   442906269   442930616   442954814   442978698   443002456   443026208
442808127   442832911   442857579   442881835   442906277   442930624   442954822   442978706   443002464   443026216
442808135   442832929   442857587   442881843   442906285   442930632   442954830   442978714   443002472   443026224
442808143   442832937   442857595   442881850   442906293   442930640   442954848   442978722   443002480   443026232
442808150   442832945   442857603   442881868   442906301   442930657   442954855   442978730   443002498   443026240
442808168   442832952   442857611   442881876   442906319   442930665   442954863   442978748   443002506   443026257
442808176   442832978   442857629   442881884   442906327   442930673   442954871   442978755   443002514   443026265
442808184   442832986   442857637   442881892   442906335   442930681   442954889   442978763   443002522   443026273
442808192   442832994   442857652   442881900   442906343   442930699   442954897   442978771   443002530   443026281
442808200   442833000   442857660   442881918   442906350   442930707   442954905   442978789   443002548   443026299
442808218   442833018   442857678   442881926   442906368   442930715   442954913   442978797   443002555   443026307
442808226   442833034   442857686   442881934   442906376   442930723   442954921   442978805   443002563   443026315
442808234   442833042   442857694   442881942   442906384   442930731   442954939   442978813   443002571   443026323
442808242   442833059   442857702   442881959   442906392   442930749   442954947   442978821   443002589   443026331
442808259   442833067   442857710   442881967   442906400   442930756   442954954   442978839   443002597   443026349
442808267   442833075   442857728   442881975   442906418   442930764   442954962   442978847   443002605   443026356
442808275   442833083   442857736   442881983   442906426   442930772   442954970   442978862   443002613   443026364
442808283   442833091   442857744   442881991   442906434   442930780   442954988   442978870   443002621   443026372
442808291   442833109   442857751   442882007   442906442   442930798   442954996   442978888   443002639   443026380
442808309   442833117   442857769   442882015   442906459   442930806   442955001   442978896   443002647   443026398


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424423317   424714053   424966687   425192309   442632154   442682613   442708459   442733820   442758819   442783585
424423408   424714087   424966893   425192333   442632360   442682621   442708467   442733838   442758827   442783593
424423473   424714103   424966919   425192432   442632402   442682647   442708475   442733846   442758835   442783601
424423507   424714194   424966950   425192531   442632444   442682654   442708483   442733853   442758843   442783619
424423556   424714616   424966968   425192721   442632519   442682670   442708491   442733861   442758850   442783627
424423796   424714665   424966992   425192762   442632543   442682688   442708509   442733879   442758868   442783635
424424174   424714731   424967032   425192788   442632576   442682696   442708517   442733887   442758876   442783643
424424224   424714905   424967099   425192820   442632634   442682704   442708525   442733895   442758884   442783650
424424570   424715001   424967172   425193042   442632824   442682712   442708533   442733903   442758892   442783668
424424596   424715035   424967214   425193216   442632832   442682720   442708541   442733911   442758900   442783676
424424711   424715050   424967271   425193224   442632840   442682738   442708558   442733929   442758918   442783684
424425072   424715183   424967362   425193232   442632873   442682761   442708566   442733937   442758926   442783692
424425171   424715191   424967370   425193257   442632907   442682787   442708574   442733952   442758934   442783700
424425239   424715449   424967412   425193323   442632980   442682795   442708582   442733960   442758942   442783718
424425247   424715605   424967479   425193562   442633038   442682829   442708590   442733978   442758959   442783726
424425312   424715639   424967495   425193612   442633137   442682837   442708608   442733986   442758967   442783734
424425445   424715852   424967594   425193695   442633178   442682845   442708616   442733994   442758975   442783742
424425767   424716264   424967644   425193802   442633368   442682852   442708624   442734018   442758983   442783759
424425841   424716629   424967743   425193901   442633608   442682860   442708632   442734026   442758991   442783767
424425882   424716637   424967792   425193976   442633699   442682878   442708640   442734034   442759007   442783775
424425916   424716694   424967818   425194115   442633806   442682886   442708657   442734042   442759015   442783783
424426112   424716801   424967891   425194412   442633905   442682894   442708665   442734059   442759023   442783791
424426161   424716942   424967925   425194479   442633947   442682902   442708673   442734067   442759031   442783809
424426245   424716975   424968204   425194503   442633988   442682910   442708681   442734075   442759049   442783817
424426260   424717098   424968329   425194602   442634002   442682928   442708699   442734083   442759056   442783825
424426625   424717213   424968394   425194750   442634119   442682944   442708707   442734091   442759064   442783833
424426666   424717221   424968519   425194883   442634143   442682951   442708723   442734109   442759072   442783841
424426732   424717379   424968527   425195013   442634184   442682969   442708749   442734117   442759080   442783858
424426831   424717403   424968543   425195054   442634234   442682977   442708756   442734125   442759098   442783866
424426872   424717510   424968865   425195237   442634317   442682985   442708764   442734133   442759106   442783874
424426880   424717544   424968923   425195278   442634333   442683009   442708772   442734141   442759114   442783882
424427151   424717601   424968956   425195302   442634481   442683017   442708780   442734158   442759122   442783908
424427169   424717619   424969228   425195336   442634523   442683025   442708798   442734166   442759130   442783916
424427334   424717759   424969251   425195385   442634556   442683033   442708806   442734174   442759148   442783924
424427375   424717767   424969368   425195443   442634580   442683041   442708814   442734182   442759155   442783932
424427409   424717817   424969384   425195476   442634671   442683058   442708822   442734190   442759163   442783940
424427540   424717882   424969509   425195542   442634721   442683066   442708830   442734208   442759171   442783957
424427698   424718039   424969517   425195690   442634861   442683074   442708848   442734224   442759189   442783965
424427805   424718062   424969574   425195732   442634960   442683082   442708855   442734232   442759197   442783981
424427854   424718112   424969665   425195773   442635009   442683090   442708863   442734240   442759205   442783999
424427888   424718278   424969764   425195815   442635041   442683108   442708871   442734257   442759213   442784005
424427979   424718369   424969798   425195831   442635090   442683116   442708889   442734265   442759221   442784021
424428142   424718484   424969855   425195856   442635280   442683132   442708897   442734273   442759239   442784039
424428183   424718716   424970002   425196201   442635306   442683140   442708905   442734281   442759247   442784047
424428282   424718732   424970044   425196250   442635470   442683157   442708913   442734299   442759254   442784054
424428555   424718989   424970168   425196318   442635488   442683165   442708921   442734307   442759262   442784062
424428803   424719094   424970259   425196334   442635587   442683173   442708939   442734315   442759270   442784070
424428811   424719136   424970325   425196342   442635637   442683181   442708947   442734323   442759288   442784088
424428829   424719300   424970382   425196821   442635850   442683199   442708954   442734331   442759296   442784096
424428860   424719391   424970457   425196896   442635900   442683207   442708962   442734349   442759304   442784104
424429041   424719409   424970523   425196904   442635934   442683223   442708970   442734356   442759312   442784112
424429223   424719813   424970580   425196946   442636049   442683231   442708988   442734364   442759320   442784120
424429496   424720001   424970614   425197001   442636064   442683249   442708996   442734372   442759338   442784138
424429512   424720274   424970630   425197084   442636114   442683256   442709002   442734380   442759346   442784146
424429561   424720373   424970721   425197100   442636189   442683264   442709010   442734398   442759353   442784153
424429629   424720472   424971158   425197126   442636213   442683280   442709028   442734406   442759361   442784161
424429983   424720530   424971380   425197167   442636239   442683298   442709036   442734414   442759379   442784179
424430130   424720654   424971422   425197423   442636387   442683306   442709044   442734422   442759387   442784187
424430171   424720712   424971489   425197555   442636395   442683314   442709051   442734430   442759395   442784195
424430239   424720811   424971497   425197662   442636445   442683322   442709069   442734448   442759403   442784203
424430254   424720845   424971505   425197712   442636593   442683348   442709077   442734455   442759411   442784211
424430478   424720902   424971547   425197738   442636601   442683355   442709085   442734463   442759429   442784229
424430726   424720951   424971679   425197837   442636692   442683371   442709093   442734471   442759437   442784237
424430825   424720977   424971760   425197860   442636809   442683397   442709101   442734489   442759445   442784245
424430981   424721009   424971786   425197886   442636866   442683405   442709119   442734497   442759452   442784252
424431153   424721058   424971893   425197993   442636882   442683413   442709127   442734505   442759460   442784260
424431245   424721082   424971950   425198314   442636916   442683421   442709135   442734513   442759478   442784278

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442808317   442833125   442857777   442882023   442906467   442930814   442955019   442978904   443002654   443026406
442808325   442833133   442857785   442882031   442906475   442930822   442955027   442978912   443002662   443026414
442808333   442833141   442857793   442882049   442906483   442930830   442955035   442978920   443002670   443026422
442808341   442833158   442857801   442882056   442906491   442930848   442955043   442978938   443002688   443026430
442808358   442833166   442857819   442882064   442906509   442930855   442955050   442978946   443002696   443026448
442808366   442833174   442857827   442882072   442906517   442930863   442955068   442978953   443002704   443026455
442808374   442833182   442857835   442882080   442906525   442930871   442955076   442978961   443002712   443026489
442808382   442833190   442857843   442882098   442906533   442930889   442955084   442978979   443002720   443026539
442808390   442833208   442857850   442882106   442906541   442930897   442955092   442978987   443002738   443026547
442808408   442833224   442857876   442882114   442906558   442930905   442955100   442978995   443002746   443026554
442808416   442833232   442857884   442882122   442906566   442930913   442955118   442979001   443002753   443026638
442808424   442833240   442857892   442882130   442906574   442930921   442955126   442979019   443002761   443026687
442808432   442833257   442857918   442882148   442906582   442930939   442955134   442979027   443002779   443026711
442808440   442833265   442857926   442882155   442906590   442930947   442955142   442979035   443002787   443026745
442808457   442833281   442857934   442882163   442906608   442930954   442955159   442979043   443002795   443026828
442808465   442833299   442857942   442882171   442906616   442930962   442955167   442979050   443002803   443026877
442808473   442833307   442857959   442882189   442906624   442930970   442955175   442979068   443002811   443026885
442808481   442833315   442857975   442882205   442906632   442930988   442955183   442979076   443002829   443026893
442808499   442833323   442857983   442882221   442906640   442930996   442955191   442979084   443002837   443026919
442808507   442833331   442857991   442882239   442906657   442931002   442955209   442979092   443002845   443026968
442808515   442833349   442858007   442882247   442906665   442931010   442955217   442979100   443002852   443027008
442808523   442833356   442858015   442882254   442906673   442931028   442955225   442979118   443002860   443027123
442808531   442833364   442858023   442882262   442906699   442931036   442955233   442979126   443002878   443027131
442808549   442833372   442858031   442882270   442906707   442931044   442955241   442979134   443002886   443027149
442808556   442833380   442858049   442882288   442906715   442931051   442955258   442979142   443002894   443027214
442808564   442833398   442858056   442882296   442906723   442931069   442955266   442979159   443002902   443027222
442808572   442833406   442858064   442882304   442906731   442931077   442955274   442979167   443002910   443027230
442808580   442833414   442858072   442882312   442906749   442931085   442955282   442979175   443002928   443027305
442808598   442833422   442858080   442882320   442906756   442931093   442955290   442979183   443002936   443027313
442808606   442833430   442858098   442882338   442906764   442931101   442955308   442979191   443002944   443027362
442808614   442833448   442858106   442882346   442906772   442931119   442955316   442979209   443002951   443027370
442808622   442833455   442858114   442882353   442906780   442931127   442955324   442979217   443002969   443027511
442808630   442833463   442858130   442882361   442906798   442931135   442955332   442979225   443002977   443027537
442808648   442833471   442858148   442882379   442906806   442931143   442955340   442979233   443002985   443027560
442808655   442833489   442858155   442882387   442906814   442931150   442955357   442979241   443002993   443027578
442808663   442833497   442858163   442882403   442906822   442931168   442955365   442979258   443003009   443027610
442808671   442833505   442858171   442882429   442906830   442931176   442955373   442979266   443003017   443027735
442808689   442833513   442858189   442882437   442906848   442931184   442955381   442979274   443003025   443027743
442808697   442833521   442858197   442882445   442906855   442931192   442955399   442979282   443003033   443027800
442808705   442833539   442858205   442882452   442906863   442931200   442955407   442979290   443003041   443027859
442808713   442833547   442858213   442882460   442906871   442931218   442955415   442979308   443003058   443027875
442808721   442833554   442858221   442882478   442906889   442931226   442955423   442979316   443003066   443027883
442808739   442833562   442858239   442882486   442906897   442931234   442955431   442979324   443003074   443028022
442808747   442833570   442858247   442882494   442906905   442931242   442955449   442979332   443003082   443028048
442808762   442833588   442858254   442882502   442906913   442931259   442955456   442979340   443003090   443028071
442808770   442833604   442858262   442882510   442906921   442931267   442955464   442979357   443003108   443028147
442808788   442833612   442858288   442882528   442906939   442931275   442955472   442979365   443003116   443028154
442808796   442833620   442858296   442882536   442906947   442931283   442955480   442979373   443003124   443028261
442808804   442833638   442858312   442882544   442906954   442931309   442955498   442979381   443003132   443028402
442808812   442833646   442858320   442882551   442906962   442931317   442955506   442979399   443003140   443028428
442808820   442833653   442858338   442882569   442906970   442931325   442955514   442979407   443003157   443028436
442808846   442833661   442858346   442882577   442906988   442931333   442955522   442979415   443003165   443028485
442808853   442833679   442858353   442882585   442906996   442931341   442955530   442979423   443003173   443028493
442808861   442833687   442858361   442882601   442907002   442931358   442955548   442979431   443003181   443028634
442808887   442833695   442858379   442882619   442907010   442931366   442955555   442979449   443003199   443028642
442808895   442833703   442858387   442882627   442907028   442931374   442955563   442979456   443003207   443028691
442808903   442833711   442858395   442882635   442907036   442931382   442955571   442979464   443003215   443028717
442808911   442833729   442858403   442882643   442907044   442931390   442955589   442979472   443003223   443028758
442808929   442833737   442858411   442882650   442907051   442931408   442955597   442979480   443003231   443028790
442808937   442833752   442858437   442882668   442907069   442931416   442955605   442979498   443003249   443028840
442808945   442833760   442858445   442882676   442907077   442931424   442955613   442979506   443003256   443028907
442808952   442833778   442858452   442882684   442907085   442931432   442955621   442979514   443003264   443028949
442808960   442833786   442858460   442882692   442907093   442931440   442955639   442979522   443003272   443028956
442808978   442833794   442858478   442882700   442907101   442931457   442955647   442979530   443003280   443029020
442808986   442833802   442858486   442882718   442907119   442931465   442955662   442979548   443003298   443029053
442808994   442833810   442858494   442882726   442907127   442931473   442955670   442979555   443003306   443029129
442809000   442833828   442858502   442882734   442907143   442931481   442955688   442979563   443003314   443029186


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424431302   424721199   424972131   425198421   442636981   442683454   442709150   442734521   442759486   442784286
424431344   424721322   424972396   425198488   442637062   442683462   442709168   442734539   442759494   442784294
424431401   424721595   424972552   425198520   442637070   442683470   442709176   442734547   442759502   442784302
424431674   424721777   424972933   425198645   442637195   442683488   442709184   442734554   442759510   442784328
424431799   424721793   424973006   425198678   442637211   442683496   442709192   442734562   442759528   442784336
424432045   424721959   424973139   425198769   442637278   442683512   442709200   442734570   442759536   442784344
424432078   424722056   424973303   425199015   442637286   442683520   442709218   442734588   442759544   442784351
424432276   424722122   424973550   425199049   442637310   442683538   442709226   442734596   442759551   442784369
424432649   424722130   424973600   425199098   442637534   442683546   442709234   442734604   442759569   442784377
424432755   424722262   424973733   425199130   442637633   442683553   442709242   442734612   442759577   442784385
424433084   424722296   424973808   425199189   442637682   442683561   442709259   442734620   442759593   442784393
424433134   424722437   424973899   425199221   442637765   442683579   442709267   442734638   442759601   442784401
424433142   424722460   424973972   425199270   442637856   442683587   442709275   442734646   442759619   442784419
424433183   424722569   424974079   425199288   442637898   442683595   442709283   442734661   442759627   442784427
424433258   424722700   424974137   425199304   442637948   442683603   442709291   442734679   442759643   442784435
424433381   424722809   424974202   425199338   442638003   442683611   442709309   442734687   442759650   442784443
424433399   424723229   424974392   425199361   442638011   442683629   442709317   442734695   442759668   442784450
424433449   424723328   424974483   425199551   442638052   442683637   442709325   442734703   442759676   442784468
424433662   424723468   424974491   425199791   442638250   442683645   442709333   442734711   442759684   442784476
424433670   424723534   424974723   425200334   442638268   442683652   442709358   442734729   442759692   442784484
424433753   424723617   424974764   425200417   442638326   442683660   442709366   442734737   442759700   442784500
424433795   424723708   424974806   425200441   442638334   442683678   442709374   442734745   442759718   442784518
424433829   424724227   424974814   425200466   442638409   442683686   442709382   442734760   442759726   442784526
424433977   424724391   424975100   425200706   442638573   442683694   442709416   442734778   442759734   442784534
424434082   424724581   424975118   425200714   442638581   442683702   442709424   442734786   442759742   442784542
424434421   424724664   424975274   425200722   442638771   442683728   442709432   442734794   442759759   442784559
424434447   424724698   424975399   425200805   442638995   442683736   442709440   442734802   442759767   442784567
424434462   424724706   424975415   425200839   442639019   442683744   442709457   442734810   442759775   442784575
424434728   424724722   424975530   425200854   442639043   442683769   442709473   442734836   442759783   442784583
424434736   424724797   424975548   425200938   442639175   442683777   442709481   442734844   442759809   442784591
424434777   424724995   424975829   425201183   442639233   442683785   442709507   442734851   442759817   442784609
424434827   424725174   424975837   425201233   442639308   442683801   442709515   442734869   442759825   442784625
424434926   424725653   424975878   425201589   442639449   442683819   442709523   442734877   442759833   442784633
424435071   424725836   424976009   425201621   442639571   442683835   442709531   442734885   442759841   442784641
424435154   424726032   424976033   425202074   442639605   442683843   442709549   442734893   442759858   442784658
424435261   424726180   424976041   425202256   442639621   442683876   442709556   442734901   442759866   442784666
424435345   424726404   424976058   425202348   442639688   442683900   442709564   442734919   442759874   442784674
424435394   424726503   424976074   425202744   442639704   442683918   442709572   442734927   442759882   442784682
424435451   424726586   424976090   425203072   442639761   442683926   442709580   442734935   442759890   442784690
424435535   424726735   424976140   425203379   442639936   442683934   442709598   442734943   442759908   442784708
424435568   424726776   424976272   425203692   442639985   442683942   442709606   442734950   442759924   442784716
424435576   424726966   424976421   425203742   442640041   442683959   442709614   442734968   442759932   442784724
424435808   424726974   424976546   425204393   442640116   442683967   442709622   442734976   442759940   442784732
424435881   424727097   424976702   425204526   442640132   442683975   442709630   442734992   442759957   442784740
424435964   424727188   424976793   425204534   442640181   442683983   442709648   442735007   442759965   442784757
424435998   424727253   424976850   425204575   442640223   442683991   442709655   442735015   442759973   442784773
424436210   424727451   424976991   425204658   442640389   442684007   442709663   442735023   442759981   442784781
424436277   424727550   424977023   425204880   442640447   442684015   442709671   442735031   442759999   442784799
424436293   424727626   424977072   425205515   442640512   442684023   442709689   442735049   442760005   442784807
424436319   424727881   424977098   425205606   442640520   442684031   442709705   442735056   442760013   442784815
424436335   424727923   424977197   425205762   442640546   442684049   442709721   442735064   442760021   442784823
424436376   424727956   424977627   425206166   442640587   442684056   442709739   442735072   442760039   442784831
424436616   424728004   424977965   425206414   442640678   442684064   442709747   442735080   442760047   442784849
424436806   424728087   424977981   425206752   442640744   442684072   442709762   442735098   442760054   442784856
424436913   424728137   424978179   425207008   442640751   442684080   442709770   442735106   442760062   442784872
424436947   424728145   424978203   425207297   442640777   442684098   442709788   442735114   442760070   442784880
424437523   424728327   424978245   425207420   442640827   442684106   442709796   442735122   442760088   442784898
424437580   424728418   424978377   425207602   442640850   442684114   442709804   442735130   442760096   442784906
424437614   424728525   424978427   425208121   442640900   442684122   442709812   442735148   442760104   442784914
424437622   424728533   424978518   425208311   442640926   442684148   442709820   442735155   442760112   442784922
424437739   424728673   424978708   425208881   442640934   442684155   442709838   442735163   442760120   442784930
424437887   424728764   424978765   425208907   442640942   442684163   442709846   442735171   442760138   442784948
424437903   424729242   424978815   425209020   442641072   442684171   442709853   442735189   442760146   442784955
424437929   424729333   424979110   425209236   442641338   442684189   442709861   442735197   442760153   442784963
424438265   424729366   424979243   425209335   442641395   442684197   442709879   442735205   442760161   442784971
424438356   424729440   424979284   425209939   442641429   442684213   442709887   442735213   442760179   442784989
424438448   424729721   424979417   425210424   442641502   442684221   442709895   442735221   442760187   442784997

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442809018   442833836   442858510   442882742   442907150   442931499   442955696   442979571   443003322   443029210
442809026   442833844   442858528   442882759   442907168   442931507   442955704   442979589   443003330   443029251
442809034   442833851   442858536   442882767   442907176   442931515   442955712   442979597   443003348   443029277
442809042   442833869   442858551   442882775   442907184   442931523   442955720   442979605   443003355   443029285
442809059   442833877   442858569   442882791   442907192   442931531   442955746   442979613   443003363   443029293
442809075   442833885   442858577   442882809   442907200   442931549   442955753   442979621   443003371   443029301
442809083   442833893   442858585   442882817   442907218   442931556   442955761   442979639   443003389   443029319
442809091   442833901   442858593   442882825   442907226   442931564   442955779   442979647   443003397   443029327
442809109   442833919   442858601   442882833   442907234   442931580   442955787   442979654   443003405   443029335
442809125   442833927   442858619   442882841   442907259   442931598   442955795   442979662   443003413   443029350
442809133   442833935   442858627   442882866   442907267   442931606   442955803   442979670   443003421   443029368
442809141   442833943   442858635   442882882   442907275   442931614   442955811   442979688   443003439   443029400
442809158   442833950   442858643   442882890   442907283   442931622   442955829   442979696   443003447   443029418
442809174   442833968   442858650   442882908   442907291   442931630   442955845   442979704   443003454   443029426
442809182   442833976   442858668   442882916   442907309   442931648   442955852   442979712   443003462   443029434
442809190   442833984   442858676   442882924   442907317   442931655   442955860   442979720   443003470   443029517
442809208   442833992   442858684   442882932   442907325   442931663   442955878   442979738   443003488   443029525
442809216   442834008   442858692   442882940   442907333   442931671   442955886   442979746   443003496   443029624
442809224   442834024   442858718   442882957   442907341   442931689   442955894   442979753   443003504   443029731
442809232   442834032   442858726   442882965   442907358   442931697   442955902   442979761   443003512   443029756
442809240   442834040   442858734   442882973   442907366   442931705   442955910   442979779   443003520   443029772
442809257   442834057   442858742   442882981   442907374   442931713   442955928   442979787   443003538   443029780
442809265   442834065   442858759   442882999   442907382   442931721   442955936   442979795   443003546   443029921
442809273   442834073   442858767   442883005   442907390   442931739   442955944   442979803   443003553   443029947
442809281   442834081   442858775   442883013   442907408   442931747   442955969   442979811   443003561   443029954
442809299   442834099   442858783   442883021   442907416   442931754   442955977   442979829   443003579   443029970
442809307   442834107   442858791   442883039   442907424   442931762   442955985   442979837   443003587   443029988
442809315   442834115   442858809   442883047   442907432   442931770   442955993   442979845   443003595   443030002
442809323   442834123   442858817   442883054   442907440   442931788   442956009   442979852   443003603   443030036
442809331   442834131   442858825   442883062   442907457   442931796   442956017   442979860   443003611   443030077
442809349   442834149   442858833   442883070   442907465   442931804   442956025   442979878   443003629   443030135
442809356   442834156   442858841   442883088   442907473   442931812   442956033   442979886   443003637   443030176
442809364   442834164   442858858   442883096   442907481   442931820   442956041   442979894   443003645   443030184
442809372   442834172   442858866   442883104   442907499   442931846   442956058   442979902   443003652   443030242
442809398   442834180   442858874   442883112   442907507   442931853   442956066   442979910   443003660   443030283
442809406   442834198   442858882   442883120   442907515   442931861   442956074   442979928   443003678   443030317
442809414   442834206   442858890   442883138   442907523   442931879   442956082   442979936   443003686   443030325
442809422   442834214   442858908   442883146   442907531   442931887   442956090   442979944   443003694   443030366
442809430   442834222   442858916   442883153   442907549   442931895   442956108   442979951   443003702   443030382
442809448   442834230   442858924   442883161   442907556   442931903   442956116   442979969   443003710   443030515
442809455   442834248   442858932   442883179   442907564   442931911   442956124   442979977   443003728   443030671
442809463   442834255   442858957   442883187   442907572   442931929   442956132   442979985   443003736   443030689
442809471   442834263   442858965   442883195   442907580   442931937   442956140   442979993   443003744   443030697
442809489   442834271   442858973   442883203   442907598   442931945   442956157   442980009   443003751   443030705
442809497   442834297   442858999   442883211   442907606   442931952   442956165   442980017   443003769   443030754
442809505   442834305   442859005   442883229   442907614   442931960   442956173   442980025   443003777   443030812
442809513   442834313   442859013   442883237   442907622   442931978   442956181   442980033   443003785   443030820
442809521   442834321   442859021   442883245   442907630   442931986   442956199   442980041   443003793   443030846
442809539   442834339   442859039   442883252   442907648   442931994   442956207   442980058   443003801   443030861
442809547   442834347   442859047   442883260   442907655   442932000   442956215   442980066   443003819   443030895
442809554   442834354   442859054   442883278   442907663   442932018   442956223   442980074   443003827   443030929
442809562   442834362   442859062   442883286   442907689   442932026   442956231   442980082   443003835   443030952
442809570   442834370   442859070   442883294   442907697   442932034   442956249   442980090   443003843   443030960
442809588   442834388   442859088   442883302   442907705   442932042   442956256   442980108   443003850   443031000
442809596   442834396   442859096   442883310   442907713   442932059   442956264   442980116   443003868   443031026
442809612   442834404   442859104   442883328   442907721   442932067   442956272   442980124   443003876   443031034
442809620   442834412   442859112   442883336   442907739   442932075   442956280   442980132   443003884   443031059
442809638   442834420   442859120   442883344   442907747   442932083   442956298   442980140   443003892   443031091
442809646   442834438   442859138   442883351   442907754   442932091   442956306   442980157   443003900   443031109
442809653   442834446   442859146   442883369   442907762   442932109   442956314   442980165   443003918   443031125
442809661   442834453   442859153   442883377   442907770   442932117   442956322   442980173   443003926   443065545
442809679   442834461   442859161   442883385   442907788   442932125   442956330   442980181   443003934  
442809687   442834479   442859179   442883393   442907796   442932133   442956348   442980199   443003942  
442809695   442834487   442859187   442883401   442907804   442932141   442956355   442980207   443003959  
442809703   442834495   442859195   442883419   442907820   442932158   442956363   442980215   443003967  
442809711   442834503   442859203   442883427   442907838   442932166   442956371   442980223   443003975  
442809729   442834511   442859211   442883435   442907846   442932174   442956389   442980231   443003983  


Total Initial Cut

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
424438679   424729762   424979474   425210721   442641528   442684239   442709903   442735239   442760195   442785002
424438950   424729788   424979680   425211109   442641544   442684247   442709911   442735247   442760203   442785010
424439164   424729820   424979896   425211265   442641635   442684254   442709929   442735254   442760211   442785028
424439305   424729937   424979961   425211547   442641684   442684262   442709937   442735262   442760229   442785036
424439453   424729945   424980050   425212008   442641692   442684270   442709945   442735270   442760237   442785044
424439461   424729952   424980068   425212180   442641841   442684288   442709960   442735288   442760245   442785051
424439529   424730018   424980431   425212271   442641874   442684296   442709978   442735296   442760252   442785069
424439594   424730190   424980506   425212438   442641916   442684304   442709986   442735304   442760260   442785077
424439602   424730224   424980605   425212453   442641924   442684312   442709994   442735312   442760278   442785085
424439701   424730240   424980670   425212974   442641932   442684320   442710000   442735320   442760286   442785093
424439750   424730273   424980753   425213089   442642005   442684338   442710018   442735346   442760294   442785101

 

Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
  Loan
Number
442809737   442834529   442859229   442883443   442907853   442932182   442956397   442980249   443003991  
442809745   442834537   442859237   442883450   442907861   442932190   442956405   442980256   443004007  
442809752   442834545   442859245   442883468   442907887   442932208   442956413   442980264   443004015  
442809760   442834552   442859252   442883476   442907895   442932216   442956421   442980272   443004023  
442809778   442834560   442859260   442883484   442907903   442932224   442956439   442980280   443004031  
442809786   442834578   442859278   442883492   442907911   442932232   442956447   442980298   443004049  
442809794   442834586   442859286   442883500   442907929   442932240   442956454   442980306   443004056  
442809802   442834594   442859294   442883518   442907937   442932257   442956462   442980314   443004064  
442809810   442834602   442859302   442883526   442907945   442932265   442956470   442980322   443004072  
442809828   442834610   442859310   442883534   442907952   442932273   442956496   442980330   443004080  
442809836   442834628   442859328   442883542   442907960   442932281   442956504   442980348   443004098  


SCHEDULE B

REPRESENTATIONS AND WARRANTIES OF THE SELLER AND THE SERVICER

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

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

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

 

SCH-B-1


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

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

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

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

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

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

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

11. Adverse Selection. No selection procedures adverse to the Noteholders were utilized in selecting the Receivables from those receivables owned by the Seller which met the selection criteria set forth in clauses (A) through (M) of number 29 of this Schedule B.

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

13. One Original. There is only one original executed copy (or with respect to “electronic chattel paper”, one authoritative copy) of each Contract. With respect to Contracts that are “electronic chattel paper”, each authoritative copy (a) is unique, identifiable and unalterable (other than with the participation of the Trust Collateral Agent in the case of an addition or amendment of an identified assignee and other than a revision that is readily identifiable as an authorized or unauthorized revision), (b) has been marked with a legend to the following effect: “Authoritative Copy” and (c) has been communicated to and is maintained by or on behalf of the Custodian.

 

SCH-B-2


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

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

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

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

18. Receivables in Force. No Receivable has been satisfied, subordinated or rescinded, and the Financed Vehicle securing each such Receivable has not been released from the lien of the related Receivable in whole or in part. No terms of any Receivable have been waived, altered or modified in any respect since its origination, except by instruments or documents identified in the Receivable File or the Servicer’s electronic records.

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

20. Good Title. Immediately prior to the conveyance of the Receivables to the Trust pursuant to this Agreement, the Seller was the sole owner thereof and had good and indefeasible title thereto, free of any Lien and, upon execution and delivery of this Agreement by the Seller, the Trust shall have good and indefeasible title to and will be the sole owner of such Receivables, free of any Lien. No Dealer or Third-Party Lender has a participation in, or other right to receive, proceeds of any Receivable. The Seller has not taken any action to convey any right to any Person that would result in such Person having a right to payments received under the related Insurance Policies or the related Dealer Agreements, Auto Loan Purchase and Sale Agreements, Dealer Assignments or Third-Party Lender Assignments or to payments due under such Receivables.

 

SCH-B-3


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

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

23. No Impairment. The Seller has not done anything to convey any right to any Person that would result in such Person having a right to payments due under the Receivables or otherwise to impair the rights of the Trust, the Trustee, the Trust Collateral Agent and the Noteholders in any Receivable or the proceeds thereof. Other than the security interest granted to the Trust pursuant to this Agreement and except any other security interests that have been fully

 

SCH-B-4


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

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

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

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

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

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

29. Certain Characteristics of the Receivables.

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

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

 

SCH-B-5


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

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

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

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

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

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

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

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

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

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

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

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

31. Lockbox Account. Each Obligor has been, or will be, directed to make all payments on their related Receivable to the Lockbox Processor for deposit into the Lockbox Account.

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

 

SCH-B-6


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

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

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

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

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

 

SCH-B-7


SCHEDULE C

SERVICING POLICIES AND PROCEDURES

Note: Applicable Time Periods Will Vary by State

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

The Collection Process

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

SCH-C-1


Repossessions

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

 

A. Proper authorities are notified (if applicable).

 

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

 

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

 

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

 

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

 

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

Use of Due Date Changes

Due dates may be changed subject to the following conditions:

 

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

 

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

 

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

 

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

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

Use of Payment Deferments

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

 

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

 

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

 

C. A deferment fee is collected on all transactions.

 

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

 

SCH-C-2


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

Charge-Offs

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

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

Deficiency Collections

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

 

SCH-C-3


EXHIBIT A

SERVICER’S CERTIFICATE


AmeriCredit Automobile Receivables Trust 2010-1

Class A-1 0.29642 % Asset Backed Notes

Class A-2 0.97 % Asset Backed Notes

Class A-3 1.66 % Asset Backed Notes

Class B 3.72 % Asset Backed Notes

Class C 5.19 % Asset Backed Notes

Class D 6.65 % Asset Backed Notes

Servicer’s Certificate

This Servicer’s Certificate has been prepared pursuant to Section 4.9 of the Sale and Servicing Agreement among AmeriCredit Automobile Receivables Trust 2010-1, as Issuer, AmeriCredit Financial Services, Inc., as Servicer, AFS SenSub Corp., as Seller, and Wells Fargo Bank, N.A., as the Backup Servicer and Trust Collateral Agent, dated as of February 2, 2010. Defined terms have the meanings assigned to them in the Sale and Servicing Agreement or in other Transaction Documents.

 

 

Monthly Period Beginning:

Monthly Period Ending:

Prev. Distribution/Close Date:

Distribution Date:

Days of Interest for Period:

Days in Collection Period:

Months Seasoned:

               
     

Purchases

   Units    Cut-off Date    Closing Date    Original
Pool Balance
   

Initial Purchase

           
               
                       
   

Total

           
               
               

 

 

I.

  

MONTHLY PERIOD RECEIVABLES PRINCIPAL BALANCE CALCULATION:

  

{1}

   Beginning of period Aggregate Principal Balance       {1}   
                
   Monthly Principal Amounts         
   {2}    Collections on Receivables outstanding at end of period    {2}______________      
   {3}    Collections on Receivables paid off during period    {3}______________      
   {4}    Receivables becoming Liquidated Receivables during period    {4}______________      
   {5}    Receivables becoming Purchased Receivables during period    {5}______________      
   {6}    Other Receivables adjustments    {6}______________      
   {7}    Less amounts allocable to Interest    {7}______________      
   {8}    Total Monthly Principal Amounts       {8}   
                

{9}

   End of period Aggregate Principal Balance       {9}   
                

{10}

   Pool Factor       {10}   
                

 

II.

  

MONTHLY PERIOD NOTE BALANCE CALCULATION:

             
                     Class A-1    Class A-2    Class A-3

{11}

   Original Note Balance    {11}              

{12}

   Beginning of period Note Balance    {12}              
                      

{13}

   Noteholders’ Principal Distributable Amount    {13}              

{14}

   Noteholders’ Accelerated Principal Amount    {14}              

{15}

   Aggregate Principal Parity Amount    {15}              

{16}

   Matured Principal Shortfall    {16}              
                      

{17}

   End of period Note Balance    {17}              
                      

{18}

   Note Pool Factors    {18}              
                      
                Class B    Class C    Class D    TOTAL

{19}

   Beginning of period Note Balance    {19}              
                        

{20}

   Noteholders’ Principal Distributable Amount    {20}              

{21}

   Noteholders’ Accelerated Principal Amount    {21}              

{22}

   Aggregate Principal Parity Amount    {22}              

{23}

   Matured Principal Shortfall    {23}              
                        

{24}

   End of period Note Balance    {24}              
                        

{25}

   Note Pool Factors    {25}              
                        


III.

   CALCULATION OF STEP-DOWN AMOUNT:          

{26}

   Ending Pool Balance    {26}        ______________   

{27}

   23.25% of Ending Aggregate Principal Balance    {27}      ______________        

{28}

   Less Specified Reserve Balance    {28}      ______________        

{29}

   Sum of {27} and {28}    {29}      ______________        

{30}

   Required Pro Forma Note Balance {26} - {29}    {30}        ______________   

{31}

   Beginning Note Balance    {31}      ______________        

{32}

   Total Monthly Principal Amount    {32}      ______________        

{33}

   Pro-Forma Note Balance ( Assuming 100% Pay-down)    {33}        ______________   

{34}

   Excess of Required Pro-forma over Pro-forma Balance    {34}        ______________   

{35}

   Pool Balance minus Pro-forma Note Balance not less than 1.5% Original Pool Balance ($10,344,874)    {35}        ______________   

{36}

   Step-Down Amount Lesser of {34} or {35}    {36}          
              

IV.

   CALCULATION OF PRINCIPAL DISTRIBUTABLE AMOUNT:

{37}

   Total Monthly Principal Amounts      {37}      ______________   

{38}

   Step-down Amount      {38}      ______________   

{39}

   Principal Distributable Amount      {39}        
              

 

V.

   CALCULATION OF INTEREST DISTRIBUTABLE AMOUNT:
     

Class

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

{40}

   Class A - 1          0.29642      Actual days/360   

{41}

   Class A - 2          0.97000      30/360   

{42}

   Class A - 3          1.66000      30/360   

{43}

   Class B          3.7200      30/360   

{44}

   Class C          5.1900      30/360   

{45}

   Class D          6.6500      30/360   

 

VI.

  

RECONCILIATION OF COLLECTION ACCOUNT:

Available Funds:

  

{46}

   Collections on Receivables during period (net of Liquidation Proceeds and Fees)    {46}      ______________   
  

{47}

   Liquidation Proceeds collected during period    {47}      ______________   
  

{48}

   Purchase Amounts or amounts from Servicer deposited in Collection Account    {48}      ______________   
  

{49}

   Investment Earnings - Collection Account    {49}      ______________   
  

{50}

   Investment Earnings - Transfer From Reserve Account    {50}      ______________   
  

{51}

   Collection of Supplemental Servicing - Extension Fees    {51}      ______________   
  

{52}

   Collection of Supplemental Servicing - Repo and Recovery Fees Advanced    {52}      ______________   
  

{53}

   Collection of Supplemental Servicing - Late Fees & Prepayment Penalty Fees    {53}      ______________   
  

{54}

   Total Available Funds    {54}         ______________

Distributions:

       
  

{55}

   Base Servicing Fee    {55}      ______________   
  

{56}

   Repo and Recovery Fees - reimbursed to Servicer    {56}      ______________   
  

{57}

   Bank Service Charges - reimbursed to Servicer    {57}      ______________   
  

{58}

   Late Fees & Prepayment Penalty Fees - to Servicer    {58}      ______________   
  

{59}

   Agent fees    {59}      ______________   
  

{60}

   Backup Servicing Fees    {60}      ______________   
  

{61}

   Class A-1 Noteholders’ Interest Distributable Amount pari passu    {61}      ______________   
  

{62}

   Class A-2 Noteholders’ Interest Distributable Amount pari passu    {62}      ______________   
  

{63}

   Class A-3 Noteholders’ Interest Distributable Amount pari passu    {63}      ______________   
  

{64}

   Class A Noteholders’ Principal Parity Amount or Matured Principal Shortfall    {64}      ______________   
  

{65}

   Class B Noteholders’ Interest Distributable Amount    {65}      ______________   
  

{66}

   Class B Noteholders’ Principal Parity Amount or Matured Principal Shortfall    {66}      ______________   
  

{67}

   Class C Noteholders’ Interest Distributable Amount    {67}      ______________   
  

{68}

   Class C Noteholders’ Principal Parity Amount or Matured Principal Shortfall    {68}      ______________   
  

{69}

   Class D Noteholders’ Interest Distributable Amount    {69}      ______________   
  

{70}

   Class D Noteholders’ Principal Parity Amount or Matured Principal Shortfall    {70}      ______________   
  

{71}

   Noteholders’ Principal Distributable Amount    {71}      ______________   
  

{72}

   To the Reserve Account, the Reserve Account Deposit    {72}      ______________   
  

{73}

   To the Noteholders, the Accelerated Principal Amount (as calculated below)    {73}      ______________   
  

{74}

   Additional fees (Indenture Trustee, Owner Trustee, Trust Collateral Agent, Backup Servicer)    {74}      ______________   
  

{75}

   To the Certificateholders, the aggregate amount remaining    {75}      ______________   
  

{76}

   Total Distributions    {76}        
               


VlI.

   CALCULATION OF PRINCIPAL PARITY AMOUNT:
    

Class

   (X)
Cumulative
Note Balance
   (Y)
Pool
Balance
   (I)
Excess of
(X) - (Y)
   (II)
Available Funds
in Waterfall
   Lesser of
(I) or (II)

{77}

   Class A               

{78}

   Class B               

{79}

   Class C               

{80}

   Class D               

{81}

   Total               

 

** Principal Parity Amount distributed as Noteholders Principal Distributable in first three months of Trust

 

VlII.

   CALCULATION OF ACCELERATED PRINCIPAL AMOUNT:

{82}

   Excess Available Funds       {82}      ______________   

{83}

   Pro-Forma Note Balance (Calculated after Step-Down)       {83}      ______________   

{84}

   Required Pro Forma Note Balance       {84}      ______________   

{85}

   Excess of Pro-Forma Balance over Required Pro-Forma Balance       {85}      ______________   

{86}

   Lesser of Excess Available Funds or Excess of Pro-Forma Note Balance       {86}        
               

IX.

   RECONCILIATION OF RESERVE ACCOUNT:            Initial

{87}

   Specified Reserve Balance           

{88}

   Beginning of period Reserve Account balance       {88}        
               

{89}

   The Reserve Account Deposit, from Collection Account       {89}      ______________   

{90}

   Investment Earnings    hc--->    {90}      ______________   

{91}

   Investment Earnings - transferred to Collection Account Available Funds    hc--->    {91}      ______________   

{92}

   Reserve Account Withdrawal Amount       {92}      ______________   

{93}

   End of period Reserve Account balance       {93}        
               

X.

   CALCULATION OF TOTAL OVERCOLLATERALIZATION:   

{94}

   Aggregate Principal Balance       {94}      ______________   

{95}

   End of Period Note Balance       {95}      ______________   

{96}

   Overcollateralization       {96}      ______________   

{97}

   Overcollateralization %       {97}        
               

XI.

   MONTHLY PERIOD AND CUMULATIVE NUMBER OF RECEIVABLES CALCULATION:   
                     Cumulative    Monthly

{98}

   Original Number of Receivables       {98}        

{99}

   Beginning of period number of Receivables       {99}        

{100}

   Number of Receivables becoming Liquidated Receivables during period       {100}        

{101}

   Number of Receivables becoming Purchased Receivables during period       {101}        

{102}

   Number of Receivables paid off during period    hc--->    {102}        
               

{103}

   End of period number of Receivables       {103}        
               

XII.

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

{104}

   Weighted Average APR of the Receivables    {104}        

{105}

   Weighted Average Remaining Term of the Receivables    {105}        

{106}

   Weighted Average Original Term of Receivables    {106}        

{107}

   Average Receivable Balance    {107}        

{108}

   Net Losses in Period    {108}        

{109}

   Aggregate Realized Losses    {109}        

{110}

   Aggregate Realized Loss Percentage    {110}        

{111}

   ABS Prepay Speed    {111}        

XIII.

   DELINQUENCY:   
                Units     Dollars    Percentage
   Receivables with Scheduled Payment delinquent           
  

        {112}         31-60 days

   {112}        
  

        {113}         61-90 days

   {113}        
  

        {114}         over 90 days

   {114}        
                     
  

        {115}         Total

   {115}        
                     

XIV.

   EXTENSIONS   
  

        {116}        Principal Balance of Receivables extended

                         during current period

   {116}      ______________   
  

        {117}        Beginning of Period Aggregate Principal

                         Balance

   {117}      ______________   
  

        {118}        Extension Rate {116} divided by {117}

   {118}         ______________

 

By:    
Name:    
Title:    
Date:    
EX-10.1 5 dex101.htm PURCHASE AGREEMENT, DATED AS OF FEBRUARY 2, 2010 Purchase Agreement, dated as of February 2, 2010

Exhibit 10.1

Execution Copy

PURCHASE AGREEMENT

between

AFS SENSUB CORP.

Purchaser

and

AMERICREDIT FINANCIAL SERVICES, INC.

Seller

Dated as of February 2, 2010


TABLE OF CONTENTS

 

     Page

ARTICLE I. DEFINITIONS

   1

SECTION 1.1

  

General

   1

SECTION 1.2

  

Specific Terms

   1

SECTION 1.3

  

Usage of Terms

   2

SECTION 1.4

  

[Reserved]

   2

SECTION 1.5

  

No Recourse

   2

SECTION 1.6

  

Action by or Consent of Noteholders and Certificateholder

   3

ARTICLE II. CONVEYANCE OF THE RECEIVABLES AND THE OTHER CONVEYED PROPERTY

   3

SECTION 2.1

  

Conveyance of the Receivables and the Other Conveyed Property

   3

ARTICLE III. REPRESENTATIONS AND WARRANTIES

   4

SECTION 3.1

  

Representations and Warranties of Seller

   4

SECTION 3.2

  

Representations and Warranties of Purchaser

   6

ARTICLE IV. COVENANTS OF SELLER

   8

SECTION 4.1

  

Protection of Title of Purchaser

   8

SECTION 4.2

  

Other Liens or Interests

   9

SECTION 4.3

  

Costs and Expenses

   9

SECTION 4.4

  

Indemnification

   9

ARTICLE V. REPURCHASES

   11

SECTION 5.1

  

Repurchase of Receivables Upon Breach of Warranty

   11

SECTION 5.2

  

Reassignment of Purchased Receivables

   12

SECTION 5.3

  

Waivers

   12

ARTICLE VI. MISCELLANEOUS

   13

SECTION 6.1

  

Liability of Seller

   13

SECTION 6.2

  

Merger or Consolidation of Seller or Purchaser

   13

SECTION 6.3

  

Limitation on Liability of Seller and Others

   13

SECTION 6.4

  

Seller May Own Notes or the Certificate

   13

SECTION 6.5

  

Amendment

   14

SECTION 6.6

  

Notices

   14

SECTION 6.7

  

Merger and Integration

   15

SECTION 6.8

  

Severability of Provisions

   15

SECTION 6.9

  

Intention of the Parties

   15

SECTION 6.10

  

Governing Law

   16

SECTION 6.11

  

Counterparts

   16

SECTION 6.12

  

Conveyance of the Receivables and the Other Conveyed Property to the Issuer

   16

SECTION 6.13

  

Nonpetition Covenant

   16

SECTION 6.14

  

[Reserved]

   16

 

i


SCHEDULES

Schedule A — Schedule of Receivables

Schedule B — Representations and Warranties from the Seller as to the Receivables

 

ii


PURCHASE AGREEMENT

THIS PURCHASE AGREEMENT, dated as of February 2, 2010, executed between AFS SenSub Corp., a Nevada corporation, as purchaser (“Purchaser”) and AmeriCredit Financial Services, Inc., a Delaware corporation, as Seller (“Seller”).

W I T N E S S E T H :

WHEREAS, Purchaser has agreed to purchase from the Seller, and the Seller, pursuant to this Agreement, is transferring to Purchaser the Receivables and Other Conveyed Property.

NOW, THEREFORE, in consideration of the premises and the mutual agreements hereinafter contained, and for other good and valuable consideration, the receipt of which is acknowledged, Purchaser and the Seller, intending to be legally bound, hereby agree as follows:

ARTICLE I.

DEFINITIONS

SECTION 1.1 General. The specific terms defined in this Article include the plural as well as the singular. The words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular Article, Section or other subdivision, and Article, Section, Schedule and Exhibit references, unless otherwise specified, refer to Articles and Sections of and Schedules and Exhibits to this Agreement. Capitalized terms used herein without definition shall have the respective meanings assigned to such terms in the Sale and Servicing Agreement dated as of February 2, 2010, by and among AFS SenSub Corp. (as Seller), AmeriCredit Financial Services, Inc. (in its individual capacity and as Servicer), AmeriCredit Automobile Receivables Trust 2010-1 (as Issuer) and Wells Fargo Bank, National Association (as Backup Servicer and Trust Collateral Agent).

SECTION 1.2 Specific Terms. Whenever used in this Agreement, the following words and phrases, unless the context otherwise requires, shall have the following meanings:

Agreement” shall mean this Purchase Agreement and all amendments hereof and supplements hereto.

Closing Date” means February 12, 2010.

Issuer” means AmeriCredit Automobile Receivables Trust 2010-1.

Other Conveyed Property” means all property conveyed by the Seller to the Purchaser pursuant to Section 2.1(a)(2) through (8) of this Agreement and by the Purchaser to the Issuer pursuant to the Sale and Servicing Agreement.

Owner Trustee” means Wilmington Trust Company, as Owner Trustee appointed and acting pursuant to the Trust Agreement.


Purchase Agreement Collateral” has the meaning specified in Section 6.9 of this Agreement.

Receivables” has the meaning assigned in the Sale and Servicing Agreement.

Related Documents” means the Notes, the Certificate, the Custodian Agreement, the Sale and Servicing Agreement, the Indenture, the Trust Agreement, the Lockbox Account Agreement, the Lockbox Processing Agreement and the Underwriting Agreement. The Related Documents to be executed by any party are referred to herein as “such party’s Related Documents,” “its Related Documents” or by a similar expression.

Repurchase Event” means the occurrence of a breach of any of the Seller’s representations and warranties hereunder or any other event which requires the repurchase of a Receivable by the Seller under the Sale and Servicing Agreement.

Sale and Servicing Agreement” means the Sale and Servicing Agreement referred to in Section 1.1 hereof.

Schedule of Receivables” means the Schedule of Receivables sold and transferred pursuant to this Agreement which is attached hereto as Schedule A.

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

Trust Collateral Agent” means Wells Fargo Bank, National Association, as trust collateral agent and any successor trust collateral agent appointed and acting pursuant to the Sale and Servicing Agreement.

Trustee” means Wells Fargo Bank, National Association, as trustee and any successor trustee appointed and acting pursuant to the Indenture.

SECTION 1.3 Usage of Terms. With respect to all terms used in this Agreement, the singular includes the plural and the plural the singular; words importing any gender include the other gender; references to “writing” include printing, typing, lithography, and other means of reproducing words in a visible form; references to agreements and other contractual instruments include all subsequent amendments thereto or changes therein entered into in accordance with their respective terms and not prohibited by this Agreement or the Sale and Servicing Agreement; references to Persons include their permitted successors and assigns; and the terms “include” or “including” mean “include without limitation” or “including without limitation.”

SECTION 1.4 [Reserved].

SECTION 1.5 No Recourse. Without limiting the obligations of Seller hereunder, no recourse may be taken, directly or indirectly, under this Agreement or any certificate or other writing delivered in connection herewith or therewith, against any stockholder, officer or director, as such, of Seller, or of any predecessor or successor of Seller.

 

2


SECTION 1.6 Action by or Consent of Noteholders and Certificateholder. Whenever any provision of this Agreement refers to action to be taken, or consented to, by Noteholders or the Certificateholder, such provision shall be deemed to refer to the Certificateholder or Noteholder, as the case may be, of record as of the Record Date immediately preceding the date on which such action is to be taken, or consent given, by Noteholders or the Certificateholder. Solely for the purposes of any action to be taken, or consented to, by Noteholders or the Certificateholder, any Note or Certificate registered in the name of the Seller or any Affiliate thereof shall be deemed not to be outstanding; provided, however, that, solely for the purpose of determining whether the Trustee or the Trust Collateral Agent is entitled to rely upon any such action or consent, only Notes or Certificates which the Owner Trustee, the Trustee or the Trust Collateral Agent, respectively, knows to be so owned shall be so disregarded.

ARTICLE II.

CONVEYANCE OF THE RECEIVABLES

AND THE OTHER CONVEYED PROPERTY

SECTION 2.1 Conveyance of the Receivables and the Other Conveyed Property.

(a) Subject to the terms and conditions of this Agreement, Seller hereby sells, transfers, assigns, and otherwise conveys to Purchaser without recourse (but without limitation of its obligations in this Agreement), and Purchaser hereby purchases, all right, title and interest of Seller in and to the following described property (collectively, the “Receivables and the Other Conveyed Property”):

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

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

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

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

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

 

3


(6) the related Receivable Files;

(7) all of the Seller’s (i) Accounts, (ii) Chattel Paper, (iii) Documents, (iv) Instruments and (v) General Intangibles (as such terms are defined in the UCC) relating to the property described in (1) through (6); and

(8) all proceeds and investments with respect to items (1) through (7).

It is the intention of Seller and Purchaser that the transfer and assignment contemplated by this Agreement shall constitute a sale of the Receivables and the Other Conveyed Property from Seller to Purchaser, conveying good title thereto free and clear of any Liens, and the beneficial interest in and title to the Receivables and the Other Conveyed Property shall not be part of Seller’s estate in the event of the filing of a bankruptcy petition by or against Seller under any bankruptcy or similar law.

(b) Simultaneously with the conveyance of the Receivables and the Other Conveyed Property to Purchaser, Purchaser has paid or caused to be paid to or upon the order of Seller an amount equal to the book value of the Receivables sold by Seller, as set forth on the books and records of Seller, by wire transfer of immediately available funds and the remainder as a contribution to the capital of the Purchaser (a wholly-owned subsidiary of Seller).

ARTICLE III.

REPRESENTATIONS AND WARRANTIES

SECTION 3.1 Representations and Warranties of Seller. Seller makes the following representations and warranties as of the date hereof and as of the Closing Date on which Purchaser relies in purchasing the Receivables and the Other Conveyed Property and in transferring the Receivables and the Other Conveyed Property to the Issuer under the Sale and Servicing Agreement. Such representations are made as of the execution and delivery of this Agreement, but shall survive the sale, transfer and assignment of the Receivables and the Other Conveyed Property hereunder, and the sale, transfer and assignment thereof by Purchaser to the Issuer under the Sale and Servicing Agreement. Seller and Purchaser agree that Purchaser will assign to Issuer all Purchaser’s rights under this Agreement and that the Trustee will thereafter be entitled to enforce this Agreement against Seller in the Trustee’s own name on behalf of the Noteholders.

(a) Schedule of Representations. The representations and warranties set forth on the Schedule of Representations with respect to the Receivables as of the date hereof, and as of the Closing Date, are true and correct.

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

 

4


(c) Due Qualification. Seller is duly qualified to do business as a foreign corporation, is in good standing, and has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of its property or the conduct of its business requires such qualification.

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

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

(f) No Violation. The consummation of the transactions contemplated by this Agreement and the Related Documents, and the fulfillment of the terms of this Agreement and the Related Documents, shall not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice, lapse of time or both) a default under, the articles of incorporation or bylaws of Seller, or any indenture, agreement, mortgage, deed of trust or other instrument to which Seller is a party or by which it is bound, or result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement, mortgage, deed of trust or other instrument, other than this Agreement, the Sale and Servicing Agreement and the Indenture, or violate any law, order, rule or regulation applicable to Seller of any court or of any federal or state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over Seller or any of its properties.

(g) No Proceedings. There are no proceedings or investigations pending or, to Seller’s knowledge, threatened against Seller, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over Seller or its properties (i) asserting the invalidity of this Agreement or any of the Related Documents, (ii) seeking to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the

 

5


Related Documents, (iii) seeking any determination or ruling that might materially and adversely affect the performance by Seller of its obligations under, or the validity or enforceability of, this Agreement or any of the Related Documents or (iv) seeking to affect adversely the federal income tax or other federal, state or local tax attributes of, or seeking to impose any excise, franchise, transfer or similar tax upon, the transfer and acquisition of the Receivables and the Other Conveyed Property hereunder or under the Sale and Servicing Agreement.

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

(i) Chief Executive Office. The chief executive office of Seller is located at 801 Cherry Street, Suite 3500, Fort Worth, Texas 76102.

SECTION 3.2 Representations and Warranties of Purchaser. Purchaser makes the following representations and warranties, on which Seller relies in selling, assigning, transferring and conveying the Receivables and the Other Conveyed Property to Purchaser hereunder. Such representations are made as of the execution and delivery of this Agreement, but shall survive the sale, transfer and assignment of the Receivables and the Other Conveyed Property hereunder and the sale, transfer and assignment thereof by Purchaser to the Issuer under the Sale and Servicing Agreement.

(a) Organization and Good Standing. Purchaser has been duly organized and is validly existing and in good standing as a corporation under the laws of the State of Nevada, with the power and authority to own its properties and to conduct its business as such properties are currently owned and such business is currently conducted, and had at all relevant times, and has, full power, authority and legal right to acquire and own the Receivables and the Other Conveyed Property, and to transfer the Receivables and the Other Conveyed Property to the Issuer pursuant to the Sale and Servicing Agreement.

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

(c) Power and Authority. Purchaser has the power, authority and legal right to execute and deliver this Agreement and to carry out the terms hereof and to acquire the Receivables and the Other Conveyed Property hereunder; and the execution, delivery and performance of this Agreement and all of the documents required pursuant hereto have been duly authorized by Purchaser by all necessary corporate action.

 

6


(d) No Consent Required. Purchaser is not required to obtain the consent of any other Person, or any consent, license, approval or authorization or registration or declaration with, any governmental authority, bureau or agency in connection with the execution, delivery or performance of this Agreement and the Related Documents, except for such as have been obtained, effected or made.

(e) Binding Obligation. This Agreement constitutes a legal, valid and binding obligation of Purchaser, enforceable against Purchaser in accordance with its terms, subject, as to enforceability, to applicable bankruptcy, insolvency, reorganization, conservatorship, receivership, liquidation and other similar laws and to general equitable principles.

(f) No Violation. The execution, delivery and performance by Purchaser of this Agreement, the consummation of the transactions contemplated by this Agreement and the Related Documents and the fulfillment of the terms of this Agreement and the Related Documents do not and will not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under, the certificate of incorporation or bylaws of Purchaser, or conflict with or breach any of the terms or provisions of, or constitute (with or without notice or lapse of time) a default under, any indenture, agreement, mortgage, deed of trust or other instrument to which Purchaser is a party or by which Purchaser is bound or to which any of its properties are subject, or result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement, mortgage, deed of trust or other instrument (other than the Sale and Servicing Agreement), or violate any law, order, rule or regulation, applicable to Purchaser or its properties, of any federal or state regulatory body, any court, administrative agency, or other governmental instrumentality having jurisdiction over Purchaser or any of its properties.

(g) No Proceedings. There are no proceedings or investigations pending, or, to the knowledge of Purchaser, threatened against Purchaser, before any court, regulatory body, administrative agency, or other tribunal or governmental instrumentality having jurisdiction over Purchaser or its properties: (i) asserting the invalidity of this Agreement or any of the Related Documents, (ii) seeking to prevent the consummation of any of the transactions contemplated by this Agreement or any of the Related Documents, (iii) seeking any determination or ruling that might materially and adversely affect the performance by Purchaser of its obligations under, or the validity or enforceability of, this Agreement or any of the Related Documents or (iv) that may adversely affect the federal or state income tax attributes of, or seeking to impose any excise, franchise, transfer or similar tax upon, the transfer and acquisition of the Receivables and the Other Conveyed Property hereunder or the transfer of the Receivables and the Other Conveyed Property to the Issuer pursuant to the Sale and Servicing Agreement.

In the event of any breach of a representation and warranty made by Purchaser hereunder, Seller covenants and agrees that it will not take any action to pursue any remedy that it may have hereunder, in law, in equity or otherwise, until a year and a day have passed since the date on which all Notes, Certificates, pass-through certificates or other similar securities issued by Purchaser, or a trust or similar vehicle formed by Purchaser, have been paid in full.

 

7


Seller and Purchaser agree that damages will not be an adequate remedy for such breach and that this covenant may be specifically enforced by Purchaser, Issuer or by the Trustee on behalf of the Noteholders and Owner Trustee on behalf of the Certificateholder.

ARTICLE IV.

COVENANTS OF SELLER

SECTION 4.1 Protection of Title of Purchaser.

(a) At or prior to the Closing Date, Seller shall have filed or caused to be filed a UCC-1 financing statement, naming Seller as seller or debtor, naming Purchaser as purchaser or secured party and describing the Receivables and the Other Conveyed Property being sold by it to Purchaser as collateral, with the office of the Secretary of State of the State of Delaware and in such other locations as Purchaser shall have required. From time to time thereafter, Seller shall execute and file such financing statements and cause to be executed and filed such continuation statements, all in such manner and in such places as may be required by law fully to preserve, maintain and protect the interest of Purchaser under this Agreement, of the Issuer under the Sale and Servicing Agreement and of the Trust Collateral Agent under the Indenture in the Receivables and the Other Conveyed Property and in the proceeds thereof. Seller shall deliver (or cause to be delivered) to Purchaser and the Trust Collateral Agent file-stamped copies of, or filing receipts for, any document filed as provided above, as soon as available following such filing. In the event that Seller fails to perform its obligations under this subsection, Purchaser, Issuer or the Trust Collateral Agent may do so, at the expense of the Seller. In furtherance of the foregoing, the Seller hereby authorizes the Purchaser, the Issuer or the Trust Collateral Agent to file a record or records (as defined in the applicable UCC), including, without limitation, financing statements, in all jurisdictions and with all filing offices as each may determine, in its sole discretion, are necessary or advisable to perfect the security interest granted to the Purchaser pursuant to Section 6.9 of this Agreement. Such financing statements may describe the collateral in the same manner as described herein or may contain an indication or description of collateral that describes such property in any other manner as such party may determine, in its sole discretion, is necessary, advisable or prudent to ensure the perfection of the security interest in the collateral granted to the Purchaser herein.

(b) Seller shall not change its name, identity, state of incorporation or corporate structure in any manner that would, could or might make any financing statement or continuation statement filed by Seller (or by Purchaser, Issuer or the Trust Collateral Agent on behalf of Seller) in accordance with paragraph (a) above seriously misleading within the meaning of §9-506 of the applicable UCC, unless they shall have given Purchaser, Issuer and the Trust Collateral Agent at least 60 days’ prior written notice thereof, and shall promptly file appropriate amendments to all previously filed financing statements and continuation statements.

 

8


(c) Seller shall give Purchaser, the Issuer and the Trust Collateral Agent at least 60 days prior written notice of any relocation that would result in a change of the location of the debtor within the meaning of Section 9-307 of the applicable UCC. Seller shall at all times maintain (i) each office from which it services Receivables within the United States of America or Canada and (ii) its principal executive office within the United States of America.

(d) Prior to the Closing Date, Seller has maintained accounts and records as to each Receivable accurately and in sufficient detail to permit (i) the reader thereof to know at any time as of or prior to the Closing Date, the status of such Receivable, including payments and recoveries made and payments owing (and the nature of each) and (ii) reconciliation between payments or recoveries on (or with respect to) each Receivable and the Principal Balance as of the Cutoff Date. Seller shall maintain its computer systems so that, from and after the time of sale under this Agreement of the Receivables to Purchaser, and the conveyance of the Receivables by Purchaser to the Issuer, Seller’s master computer records (including archives) that shall refer to a Receivable indicate clearly that such Receivable has been sold to Purchaser and has been conveyed by Purchaser to the Issuer. Indication of the Issuer’s ownership of a Receivable shall be deleted from or modified on Seller’s computer systems when, and only when, the Receivable shall become a Purchased Receivable or a Sold Receivable or shall have been paid in full or sold pursuant to the terms of the Sale and Servicing Agreement.

(e) If at any time Seller shall propose to sell, grant a security interest in, or otherwise transfer any interest in any motor vehicle receivables to any prospective purchaser, lender or other transferee, Seller shall give to such prospective purchaser, lender, or other transferee computer tapes, records, or print-outs (including any restored from archives) that, if they shall refer in any manner whatsoever to any Receivable (other than a Purchased Receivable or a Sold Receivable), shall indicate clearly that such Receivable has been sold to Purchaser, sold by Purchaser to Issuer, and is owned by the Issuer.

SECTION 4.2 Other Liens or Interests. Except for the conveyances hereunder, Seller will not sell, pledge, assign or transfer to any other Person, or grant, create, incur, assume or suffer to exist any Lien on the Receivables or the Other Conveyed Property or any interest therein, and Seller shall defend the right, title, and interest of Purchaser and the Issuer in and to the Receivables and the Other Conveyed Property against all claims of third parties claiming through or under Seller.

SECTION 4.3 Costs and Expenses. Seller shall pay all reasonable costs and disbursements in connection with the performance of its obligations hereunder and under its Related Documents.

SECTION 4.4 Indemnification.

(a) Seller shall defend, indemnify and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against any and all costs, expenses, losses, damages, claims, and liabilities, arising out of or resulting from any breach of any of Seller’s representations and warranties contained herein.

 

9


(b) Seller shall defend, indemnify and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against any and all costs, expenses, losses, damages, claims, and liabilities, arising out of or resulting from the use, ownership or operation by Seller or any affiliate thereof of a Financed Vehicle.

(c) Seller shall defend, indemnify and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against any and all costs, expenses, losses, damages, claims and liabilities arising out of or resulting from any action taken, or failed to be taken, by it in respect of any portion of the Receivables other than in accordance with this Agreement or the Sale and Servicing Agreement.

(d) Seller agrees to pay, and shall defend, indemnify and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against any taxes that may at any time be asserted against Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder with respect to the transactions contemplated in this Agreement, including, without limitation, any sales, gross receipts, general corporation, tangible or intangible personal property, privilege, or license taxes (but not including any taxes asserted with respect to, and as of the date of, the sale, transfer and assignment of the Receivables and the Other Conveyed Property to Purchaser and by Purchaser to the Issuer or the issuance and original sale of the Notes or issuance of the Certificate, or asserted with respect to ownership of the Receivables and Other Conveyed Property which shall be indemnified by Seller pursuant to clause (e) below, or federal, state or other income taxes, arising out of distributions on the Notes or the Certificate or transfer taxes arising in connection with the transfer of the Notes or the Certificate) and costs and expenses in defending against the same, arising by reason of the acts to be performed by Seller under this Agreement or imposed against such Persons.

(e) Seller agrees to pay, and to indemnify, defend and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from, any taxes which may at any time be asserted against such Persons with respect to, and as of the date of, the conveyance or ownership of the Receivables or the Other Conveyed Property hereunder and the conveyance or ownership of the Receivables under the Sale and Servicing Agreement or the issuance and original sale of the Notes or the issuance of the Certificate, including, without limitation, any sales, gross receipts, personal property, tangible or intangible personal property, privilege or license taxes (but not including any federal or other income taxes, including franchise taxes, arising out of the transactions contemplated hereby or transfer taxes arising in connection with the transfer of the Notes or the Certificate) and costs and expenses in defending against the same, arising by reason of the acts to be performed by Seller under this Agreement or imposed against such Persons.

 

10


(f) Seller shall defend, indemnify, and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against any and all costs, expenses, losses, claims, damages, and liabilities to the extent that such cost, expense, loss, claim, damage, or liability arose out of, or was imposed upon Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders or the Certificateholder through the negligence, willful misfeasance, or bad faith of Seller in the performance of its duties under this Agreement or by reason of reckless disregard of Seller’s obligations and duties under this Agreement.

(g) Seller shall indemnify, defend and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against any loss, liability or expense incurred by reason of the violation by Seller of federal or state securities laws in connection with the registration or the sale of the Notes.

(h) Seller shall indemnify, defend and hold harmless Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and the Certificateholder from and against any loss, liability or expense imposed upon, or incurred by, Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders or the Certificateholder as result of the failure of any Receivable, or the sale of the related Financed Vehicle, to comply with all requirements of applicable law.

(i) Seller shall defend, indemnify, and hold harmless Purchaser from and against all costs, expenses, losses, claims, damages, and liabilities arising out of or incurred in connection with the acceptance or performance of Seller’s trusts and duties as Servicer under the Sale and Servicing Agreement, except to the extent that such cost, expense, loss, claim, damage, or liability shall be due to the willful misfeasance, bad faith, or negligence (except for errors in judgment) of Purchaser.

(j) Seller shall indemnify the Owner Trustee and its officers, directors, successors, assigns, agents and servants jointly and severally with the Purchaser pursuant to Section 7.2 of the Trust Agreement.

Indemnification under this Section 4.4 shall include reasonable fees and expenses of counsel and expenses of litigation and shall survive payment of the Notes and the Certificate. The indemnity obligations hereunder shall be in addition to any obligation that Seller may otherwise have.

ARTICLE V.

REPURCHASES

SECTION 5.1 Repurchase of Receivables Upon Breach of Warranty. Upon the occurrence of a Repurchase Event, Seller shall, unless the breach which is the subject of such Repurchase Event shall have been cured in all material respects, repurchase the Receivable relating thereto if and only if the interests of the Noteholders therein are materially and adversely affected by any such breach from the Issuer and, simultaneously with the

 

11


repurchase of the Receivable, Seller shall deposit the Purchase Amount in full, without deduction or offset, to the Collection Account, pursuant to Section 3.2 of the Sale and Servicing Agreement. It is understood and agreed that, except as set forth in Section 6.1 hereof, the obligation of Seller to repurchase any Receivable, as to which a breach occurred and is continuing, shall, if such obligation is fulfilled, constitute the sole remedy against Seller for such breach available to Purchaser, the Issuer, the Backup Servicer, the Noteholders, the Certificateholder, the Trust Collateral Agent on behalf of the Noteholders or the Owner Trustee on behalf of the Certificateholder. The provisions of this Section 5.1 are intended to grant the Issuer and the Trust Collateral Agent a direct right against Seller to demand performance hereunder, and in connection therewith, Seller waives any requirement of prior demand against Purchaser with respect to such repurchase obligation. Any such repurchase shall take place in the manner specified in Section 3.2 of the Sale and Servicing Agreement. Notwithstanding any other provision of this Agreement or the Sale and Servicing Agreement to the contrary, the obligation of Seller under this Section shall not terminate upon a termination of Seller as Servicer under the Sale and Servicing Agreement and shall be performed in accordance with the terms hereof notwithstanding the failure of the Servicer or Purchaser to perform any of their respective obligations with respect to such Receivable under the Sale and Servicing Agreement.

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

SECTION 5.2 Reassignment of Purchased Receivables. Upon deposit in the Collection Account of the Purchase Amount of any Receivable repurchased by Seller under Section 5.1 hereof, Purchaser and the Issuer shall take such steps as may be reasonably requested by Seller in order to assign to Seller all of Purchaser’s and the Issuer’s right, title and interest in and to such Receivable and all security and documents and all Other Conveyed Property conveyed to Purchaser and the Issuer directly relating thereto, without recourse, representation or warranty, except as to the absence of Liens created by or arising as a result of actions of Purchaser or the Issuer. Such assignment shall be a sale and assignment outright, and not for security. If, following the reassignment of a Purchased Receivable, in any enforcement suit or legal proceeding, it is held that Seller may not enforce any such Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce the Receivable, Purchaser and the Issuer shall, at the expense of Seller, take such steps as Seller deems reasonably necessary to enforce the Receivable, including bringing suit in Purchaser’s or in the Issuer’s name.

SECTION 5.3 Waivers. No failure or delay on the part of Purchaser, or the Issuer as assignee of Purchaser, or the Trust Collateral Agent as assignee of the Issuer, in exercising any power, right or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or remedy preclude any other or future exercise thereof or the exercise of any other power, right or remedy.

 

12


ARTICLE VI.

MISCELLANEOUS

SECTION 6.1 Liability of Seller. Seller shall be liable in accordance herewith only to the extent of the obligations in this Agreement specifically undertaken by Seller and the representations and warranties of Seller.

SECTION 6.2 Merger or Consolidation of Seller or Purchaser. Any corporation or other entity (i) into which Seller or Purchaser may be merged or consolidated, (ii) resulting from any merger or consolidation to which Seller or Purchaser is a party or (iii) succeeding to the business of Seller or Purchaser, in the case of Purchaser, which corporation has a certificate of incorporation containing provisions relating to limitations on business and other matters substantively identical to those contained in Purchaser’s certificate of incorporation, provided that in any of the foregoing cases such corporation shall execute an agreement of assumption to perform every obligation of Seller or Purchaser, as the case may be, under this Agreement and, whether or not such assumption agreement is executed, shall be the successor to Seller or Purchaser, as the case may be, hereunder (without relieving Seller or Purchaser of their responsibilities hereunder, if it survives such merger or consolidation) without the execution or filing of any document or any further action by any of the parties to this Agreement. Seller or Purchaser shall promptly inform the other party, the Issuer, the Trust Collateral Agent and the Owner Trustee and, as a condition to the consummation of the transactions referred to in clauses (i), (ii) and (iii) above, (x) immediately after giving effect to such transaction, no representation or warranty made pursuant to Sections 3.1 and 3.2 of this Agreement shall have been breached (for purposes hereof, such representations and warranties shall speak as of the date of the consummation of such transaction) and be continuing, (y) Seller or Purchaser, as applicable, shall have delivered written notice of such consolidation, merger or purchase and assumption to the Rating Agencies prior to the consummation of such transaction and shall have delivered to the Issuer and the Trust Collateral Agent an Officer’s Certificate of the Seller or a certificate signed by or on behalf of the Purchaser, as applicable, and an Opinion of Counsel each stating that such consolidation, merger or succession and such agreement of assumption comply with this Section 6.2 and that all conditions precedent, if any, provided for in this Agreement relating to such transaction have been complied with, and (z) Seller or Purchaser, as applicable, shall have delivered to the Issuer, and the Trust Collateral Agent an Opinion of Counsel, stating, in the opinion of such counsel, either (A) all financing statements and continuation statements and amendments thereto have been executed and filed that are necessary to preserve and protect the interest of the Issuer and the Trust Collateral Agent in the Receivables and reciting the details of the filings or (B) no such action shall be necessary to preserve and protect such interest.

SECTION 6.3 Limitation on Liability of Seller and Others. Seller and any director, officer, employee or agent thereof may rely in good faith on the advice of counsel or on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising under this Agreement. Seller shall not be under any obligation to appear in, prosecute or defend any legal action that is not incidental to its obligations under this Agreement or its Related Documents and that in its opinion may involve it in any expense or liability.

SECTION 6.4 Seller May Own Notes or the Certificate. Subject to the provisions of the Sale and Servicing Agreement, Seller and any Affiliate of Seller may in their individual or any other capacity become the owner or pledgee of Notes or the Certificate with the same rights as they would have if they were not Seller or an Affiliate thereof.

 

13


SECTION 6.5 Amendment.

(a) This Agreement may be amended by Seller and Purchaser without the consent of the Trust Collateral Agent, the Owner Trustee, the Certificateholder or any of the Noteholders (i) to cure any ambiguity or (ii) to correct any provisions in this Agreement; provided, however, that such action shall not, as evidenced by an Opinion of Counsel delivered to the Issuer, the Owner Trustee and the Trust Collateral Agent, adversely affect in any material respect the interests of any Certificateholder or Noteholder.

(b) This Agreement may also be amended from time to time by Seller and Purchaser, and with the consent of the Trust Collateral Agent and, if required, the Certificateholder and the Noteholders, in accordance with the Sale and Servicing Agreement, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement, or of modifying in any manner the rights of the Certificateholder or Noteholders; provided, however, the Seller provides the Trust Collateral Agent with an Opinion of Counsel, (which may be provided by the Seller’s internal counsel) that no such amendment shall increase or reduce in any manner the amount of, or accelerate or delay the timing of, collections of payments on Receivables or distributions that shall be required to be made on any Note or Certificate.

(c) Prior to the execution of any such amendment or consent, Seller shall have furnished written notification of the substance of such amendment or consent to each Rating Agency.

(d) It shall not be necessary for the consent of Certificateholder or Noteholders pursuant to this Section to approve the particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining such consents and of evidencing the authorization of the execution thereof by Certificateholder or Noteholders shall be subject to such reasonable requirements as the Trust Collateral Agent may prescribe, including the establishment of record dates. The consent of a Holder of a Certificate or a Note given pursuant to this Section or pursuant to any other provision of this Agreement shall be conclusive and binding on such Holder and on all future Holders of such Certificate or Note and of any Certificate or Note issued upon the transfer thereof or in exchange thereof or in lieu thereof whether or not notation of such consent is made upon the Certificate or Note.

SECTION 6.6 Notices. All demands, notices and communications to Seller or Purchaser hereunder shall be in writing, personally delivered, or sent by telecopier (subsequently confirmed in writing), reputable overnight courier or mailed by certified mail, return receipt requested, and shall be deemed to have been given upon receipt (a) in the case of Seller, to AmeriCredit Financial Services, Inc., 801 Cherry Street, Suite 3500, Fort Worth, Texas 76102, Attention: Chief Financial Officer, or (b) in the case of Purchaser, to AFS SenSub Corp., 2265 B Renaissance Drive, Suite 17, Las Vegas, Nevada 89119, Attention: Chief Financial Officer, or such other address as shall be designated by a party in a written notice delivered to the other party or to the Issuer, Owner Trustee or the Trust Collateral Agent, as applicable.

 

14


SECTION 6.7 Merger and Integration. Except as specifically stated otherwise herein, this Agreement and Related Documents set forth the entire understanding of the parties relating to the subject matter hereof, and all prior understandings, written or oral, are superseded by this Agreement and the Related Documents. This Agreement may not be modified, amended, waived or supplemented except as provided herein.

SECTION 6.8 Severability of Provisions. If any one or more of the covenants, provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such covenants, provisions or terms shall be deemed severable from the remaining covenants, provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement.

SECTION 6.9 Intention of the Parties.

The execution and delivery of this Agreement shall constitute an acknowledgment by Seller and Purchaser that they intend that the assignment and transfer herein contemplated constitute a sale and assignment outright, and not for security, of the Receivables and the Other Conveyed Property, conveying good title thereto free and clear of any Liens, from Seller to Purchaser, and that the Receivables and the Other Conveyed Property shall not be a part of Seller’s estate in the event of the bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other proceeding under any federal or state bankruptcy or similar law, or the occurrence of another similar event, of, or with respect to Seller. In the event that such conveyance is determined to be made as security for a loan made by Purchaser, the Issuer, the Noteholders or the Certificateholder to Seller, the Seller hereby grants to Purchaser a security interest in all of Seller’s right, title and interest in and to the following property whether now owned or existing or hereafter acquired or arising, and this Agreement shall constitute a security agreement under applicable law (collectively, the “Purchase Agreement Collateral”)

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

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

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

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

 

15


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

(6) the related Receivable Files;

(7) all of the Seller’s (i) Accounts, (ii) Chattel Paper, (iii) Documents, (iv) Instruments and (v) General Intangibles (as such terms are defined in the UCC) relating to the property described in (1) through (6); and

(8) all proceeds and investments with respect to items (1) through (7).

SECTION 6.10 Governing Law. This Agreement shall be construed in accordance with, and this Agreement and all matters arising out of or relating in any way to this Agreement shall be governed by, the law of the State of New York, without giving effect to its conflict of law provisions (other than Sections 5-1401 and 5-1402 of the New York General Obligations Law).

SECTION 6.11 Counterparts. For the purpose of facilitating the execution of this Agreement and for other purposes, this Agreement may be executed simultaneously in any number of counterparts, each of which counterparts shall be deemed to be an original, and all of which counterparts shall constitute but one and the same instrument.

SECTION 6.12 Conveyance of the Receivables and the Other Conveyed Property to the Issuer. Seller acknowledges that Purchaser intends, pursuant to the Sale and Servicing Agreement, to convey the Receivables and the Other Conveyed Property, together with its rights under this Agreement, to the Issuer on the Closing Date. Seller acknowledges and consents to such conveyance and pledge and waives any further notice thereof and covenants and agrees that the representations and warranties of Seller contained in this Agreement and the rights of Purchaser hereunder are intended to benefit the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder. In furtherance of the foregoing, Seller covenants and agrees to perform its duties and obligations hereunder, in accordance with the terms hereof for the benefit of the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder and that, notwithstanding anything to the contrary in this Agreement, Seller shall be directly liable to the Issuer, the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder (notwithstanding any failure by the Servicer, the Backup Servicer or the Purchaser to perform its respective duties and obligations hereunder or under Related Documents) and that the Trust Collateral Agent may enforce the duties and obligations of Seller under this Agreement against Seller for the benefit of the Owner Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder.

SECTION 6.13 Nonpetition Covenant. Neither Purchaser nor Seller shall petition or otherwise invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Purchaser or the Issuer under any federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Purchaser or the Issuer or any substantial part of their respective property, or ordering the winding up or liquidation of the affairs of the Purchaser or the Issuer.

SECTION 6.14 [Reserved].

 

16


[Remainder of page intentionally left blank]

 

17


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

 

AFS SENSUB CORP., as Purchaser
By   /s/ Sheli D. Fitzgerald
 

Name: Sheli D. Fitzgerald

Title: Vice President, Structured Finance

AMERICREDIT FINANCIAL SERVICES, INC., as

    Seller

By   /s/ Susan B. Sheffield
 

Name: Susan B. Sheffield

Title: Executive Vice President, Structured Fiance

 

Accepted:
WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee and Trust Collateral Agent
By   /s/ Marianna C. Stershic
 

Name: Marianna C. Stershic

Title: Vice President

[Purchase Agreement]


SCHEDULE A

SCHEDULE OF RECEIVABLES

[See Schedule A to the Sale and Servicing Agreement]


SCHEDULE B

REPRESENTATIONS AND WARRANTIES OF

AMERICREDIT FINANCIAL SERVICES, INC. (“AMERICREDIT”)

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

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

3. Compliance with Law. All requirements of applicable federal, state and local laws, and regulations thereunder (including, without limitation, usury laws, the Federal Truth-in-Lending Act, the Equal Credit Opportunity Act, the Fair Credit Billing Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Federal Trade Commission Act, the Moss-Magnuson Warranty Act, the Federal Reserve Board’s Regulations “B” and “Z” (including amendments to the Federal Reserve’s Official Staff Commentary to Regulation Z, effective October 1, 1998, concerning negative equity loans), the Servicemembers Civil Relief Act, each applicable state Motor Vehicle Retail Installment Sales Act, and state adaptations of the National Consumer Act and of the Uniform Consumer Credit Code and other consumer credit laws and equal credit opportunity and disclosure laws) in respect of the Receivables and the Financed Vehicles, have

 

Ex-A-1


been complied with in all material respects, and each Receivable and the sale of the Financed Vehicle evidenced by each Receivable complied at the time it was originated or made and now complies in all material respects with all applicable legal requirements.

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

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

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

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

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

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

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

11. Adverse Selection. No selection procedures adverse to the Noteholders were utilized in selecting the Receivables from those receivables owned by AmeriCredit which met the selection criteria set forth in clauses (A) through (M) of number 29 of this Schedule B.

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

13. One Original. There is only one original executed copy (or with respect to “electronic chattel paper”, one authoritative copy) of each Contract. With respect to Contracts that are “electronic chattel paper”, each authoritative copy (a) is unique, identifiable and unalterable

 

Ex-A-2


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

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

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

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

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

18. Receivables in Force. No Receivable has been satisfied, subordinated or rescinded, and the Financed Vehicle securing each such Receivable has not been released from the lien of the related Receivable in whole or in part. No terms of any Receivable have been waived, altered or modified in any respect since its origination, except by instruments or documents identified in the Receivable File or the Servicer’s electronic records.

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

20. Good Title. Immediately prior to the conveyance of the Receivables to AFS SenSub Corp. pursuant to this Agreement, AmeriCredit was the sole owner thereof and had good and indefeasible title thereto, free of any Lien and, upon execution and delivery of this Agreement by AmeriCredit, AFS SenSub Corp. shall have good and indefeasible title to and will be the sole owner of such Receivables, free of any Lien. No Dealer or Third-Party Lender has a participation

 

Ex-A-3


in, or other right to receive, proceeds of any Receivable. AmeriCredit has not taken any action to convey any right to any Person that would result in such Person having a right to payments received under the related Insurance Policies or the related Dealer Agreements, Auto Loan Purchase and Sale Agreements, Dealer Assignments, or Third-Party Lender Assignments or to payments due under such Receivables.

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

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

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

 

Ex-A-4


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

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

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

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

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

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

29. Certain Characteristics of Receivables.

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

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

 

Ex-A-5


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

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

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

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

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

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

(I) Each Receivable is identified on the Servicer’s master servicing records as an automobile installment sales contract or installment note.

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

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

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

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

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

31. Lockbox Account. Each Obligor has been, or will be, directed to make all payments on their related Receivable to the Lockbox Processor for deposit into the Lockbox Account.

 

Ex-A-6


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

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

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

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

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

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

 

Ex-A-7

EX-10.3 6 dex103.htm CUSTODIAN AGREEMENT, DATED AS OF FEBRUARY 2, 2010 Custodian Agreement, dated as of February 2, 2010

Exhibit 10.3

Execution Copy

CUSTODIAN AGREEMENT

among

AMERICREDIT FINANCIAL SERVICES, INC.,

as Custodian,

and

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trust Collateral Agent

Dated as of February 2, 2010


THIS CUSTODIAN AGREEMENT, dated as of February 2, 2010, is made with respect to the issuance of Notes and a Certificate by AmeriCredit Automobile Receivables Trust 2010-1 (the “Issuer”), and is between AMERICREDIT FINANCIAL SERVICES, INC., as custodian (in such capacity, the “Custodian”) and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as trust collateral agent (the “Trust Collateral Agent”). Capitalized terms used herein which are not defined herein shall have the meanings set forth in the Sale and Servicing Agreement (as hereinafter defined).

W I T N E S S E T H:

WHEREAS, AmeriCredit Financial Services, Inc. (“AFS”) and AFS SenSub Corp. (“AFS SenSub”) have entered into a Purchase Agreement dated as of February 2, 2010 (the “Purchase Agreement”), pursuant to which AFS has sold, transferred and assigned to AFS SenSub all of its right, title and interest in and to the Receivables;

WHEREAS, the Issuer, AFS, as Servicer (the “Servicer”), AFS SenSub and Wells Fargo Bank, National Association, as Trust Collateral Agent and Backup Servicer, have entered into a Sale and Servicing Agreement, dated as of February 2, 2010 (the “Sale and Servicing Agreement”), pursuant to which AFS SenSub has sold, transferred and assigned to the Issuer all of AFS SenSub’s right, title and interest in and to the Receivables;

WHEREAS, the Trust Collateral Agent wishes to appoint the Custodian to hold the Receivable Files as the custodian on behalf of the Issuer and the Trust Collateral Agent;

NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the parties agree as follows:

1. Appointment of Custodian; Acknowledgement of Receipt. Subject to the terms and conditions hereof, the Trust Collateral Agent hereby revocably appoints the Custodian, but shall not be responsible for the acts or omissions of the Custodian, and the Custodian hereby accepts such appointment, as custodian and bailee on behalf of the Issuer and the Trust Collateral Agent, to maintain exclusive custody of the Receivable Files relating to the Receivables from time to time pledged to the Trust Collateral Agent as part of the Other Conveyed Property. In performing its duties hereunder, the Custodian agrees to act with reasonable care, using that degree of skill and attention that a commercial bank acting in the capacity of a custodian would exercise with respect to files relating to comparable automotive or other receivables that it services or holds for itself or others. The Custodian hereby, as of the Closing Date, acknowledges receipt of the Receivable File for each Receivable listed in the Schedule of Receivables attached as Schedule A to the Sale and Servicing Agreement subject to any exceptions noted on the Custodian’s Acknowledgement (as defined below). As evidence of its acknowledgement of such receipt of such Receivables, the Custodian shall execute and deliver on the Closing Date the Custodian’s Acknowledgement attached hereto as Exhibit A, (the “Custodian’s Acknowledgement”).

 

1


2. Maintenance of Receivables Files at Office. The Custodian agrees to maintain the Receivable Files at its office located at 4001 Embarcadero, Suite 200, Arlington, Texas 76014 or at such other office as shall from time to time be identified to the Trust Collateral Agent upon prior written notice and the Custodian will hold the Receivable Files in such office on behalf of the Issuer and the Trust Collateral Agent, clearly identified as being separate from any other instruments and files on its records, including other instruments and files held by the Custodian and in compliance with Section 3(c) hereof.

3. Duties of Custodian.

(a) [Reserved].

(b) Safekeeping. The Custodian shall hold the Receivable Files on behalf of the Trust Collateral Agent clearly identified as being separate from all other files or records maintained by the Custodian at the same location and shall maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as will enable the Trust Collateral Agent to comply with the terms and conditions of the Sale and Servicing Agreement. Each Receivable representing tangible chattel paper (as such term is defined in the UCC) shall be stamped on both of the first page and the signature page (if different) to indicate the assignment and/or pledge of each such Receivable. Each Receivable shall be identified on the books and records of the Custodian in a manner that (i) is consistent with the practices of a commercial bank acting in the capacity of custodian with respect to similar receivables, (ii) indicates that the Receivables are held by the Custodian on behalf of the Trust Collateral Agent and (iii) is otherwise necessary, as reasonably determined by the Custodian, to comply with the terms of this Custodian Agreement. The Custodian shall conduct, or cause to be conducted, periodic physical inspections of the Receivable Files held by it under this Custodian Agreement, and of the related accounts, records and computer systems, in such a manner as shall enable the Trust Collateral Agent and the Custodian to verify the accuracy of the Custodian’s inventory and recordkeeping. Such inspections shall be conducted at such times, in such manner and by such persons including, without limitation, independent accountants, as the Trust Collateral Agent may request and the cost of such inspections shall be borne directly by the Custodian and not by the Trust Collateral Agent. The Custodian shall promptly report to the Trust Collateral Agent any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and promptly take appropriate action to remedy any such failure. Upon request, the Custodian shall make copies or other electronic file records (e.g. diskettes, CD’s, etc.) (the “Copies”) of the Receivable Files and shall deliver such Copies to the Trust Collateral Agent and the Trust Collateral Agent shall hold such Copies on behalf of the Noteholders. Subject to Section 3(d) hereof, the Custodian shall at all times (i) maintain the original or with respect to “electronic chattel paper” as such term is defined in the UCC, and authoritative copy of the fully executed original retail installment sales contract or promissory note and (ii) maintain the original of the Lien Certificate or application therefore (if no such Lien Certificate has yet been issued), in each case relating to each Receivable in a fireproof vault; provided, however, the Lien Certificate may be maintained electronically by the Registrar of Titles of the applicable state pursuant to applicable state laws, with confirmation thereof maintained by the Custodian or a third party service provider.

(c) Access to Records. The Custodian shall, subject only to the Custodian’s security requirements applicable to its own employees having access to similar records held by the Custodian, which requirements shall be consistent with the practices of a commercial bank

 

2


acting in the capacity of custodian with respect to similar files or records, and at such times as may be reasonably imposed by the Custodian, permit only the Noteholders and the Trust Collateral Agent or their duly authorized representatives, attorneys or auditors to inspect, at the Servicer’s expense, the Receivable Files and the related accounts, records, and computer systems maintained by the Custodian pursuant hereto at such times as the Noteholders or the Trust Collateral Agent may reasonably request.

(d) Release of Documents. Consistent with the practices of a commercial bank acting in the capacity of custodian with respect to similar files or records, the Custodian may release any Receivable in the Receivable Files to the Servicer, if appropriate, under the circumstances provided in Section 3.3(b) of the Sale and Servicing Agreement.

(e) Administration; Reports. The Custodian shall, in general, attend to all non-discretionary details in connection with maintaining custody of the Receivable Files on behalf of the Trust Collateral Agent. In addition, the Custodian shall assist the Trust Collateral Agent generally in the preparation of any routine reports to Noteholders or to regulatory bodies, to the extent necessitated by the Custodian’s custody of the Receivable Files.

(f) Review of Lien Certificates. On or before the Closing Date, the Custodian shall deliver to the Trust Collateral Agent a listing in the form attached hereto as Schedule II of Exhibit A, of all Receivables with respect to which a Lien Certificate, showing AFS (or an Originating Affiliate or a Titled Third-Party Lender) as secured party, was not included in the related Receivable File as of such date. In addition, the Custodian shall deliver to the Trust Collateral Agent an exception report in the form attached hereto as Schedule II of Exhibit A, (i) no later than the last Business Day of the calendar month during which the 90th day after the Closing Date occurred, (ii) no later than the last Business Day of the calendar month during which the 180th day after the Closing Date occurred and (iii) no later than the last Business Day of the calendar month during which the 240th day after the Closing Date occurred.

4. Instructions; Authority to Act. The Custodian shall be deemed to have received proper instructions with respect to the Receivable Files upon its receipt of written instructions signed by a Responsible Officer of the Trust Collateral Agent. Such instructions may be general or specific in terms. A copy of any such instructions shall be furnished by the Trust Collateral Agent to the Trustee and the Issuer.

5. Custodian Fee. For its services under this Agreement, the Custodian shall be entitled to reasonable compensation to be paid by the Servicer.

6. Indemnification by the Custodian. The Custodian agrees to indemnify the Issuer, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer and the Trustee for any and all liabilities, obligations, losses, damage, payments, costs or expenses of any kind whatsoever (including the fees and expenses of counsel) that may be imposed on, incurred or asserted against the Issuer, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer and the Trustee and their respective officers, directors, employees, agents, attorneys and successors and assigns as the result of any act or omission in any way relating to the maintenance and custody by the Custodian of the Receivable Files; provided, however, that the Custodian shall not be liable for any portion of any such liabilities, obligations, losses, damages, payments

 

3


or costs or expenses due to the willful misfeasance, bad faith or gross negligence of the Issuer, the Owner Trustee, the Trust Collateral Agent, the Backup Servicer or the Trustee or the officers, directors, employees and agents thereof. In no event shall the Custodian be liable to any third party for acts or omissions of the Custodian.

7. Advice of Counsel. The Custodian and the Trust Collateral Agent further agree that the Custodian shall be entitled to rely and act upon advice of counsel with respect to its performance hereunder as custodian and shall be without liability for any action reasonably taken pursuant to such advice, provided that such action is not in violation of applicable Federal or state law.

8. Effective Period, Termination, and Amendment; Interpretive and Additional Provisions. This Custodian Agreement shall become effective as of the date hereof and shall continue in full force and effect until terminated as hereinafter provided. This Custodian Agreement may be amended at any time by mutual agreement of the parties hereto with the prior written consent of the Backup Servicer and the Controlling Party, and may be terminated by any party by giving written notice to the other parties, such termination to take effect no sooner than thirty (30) days after the date of such notice. So long as AFS is serving as Custodian, any termination of AFS as Servicer under the Sale and Servicing Agreement shall terminate AFS as Custodian under this Agreement. Upon any termination or amendment of this Custodian Agreement, the Trust Collateral Agent, in the case of amendments, and the party seeking termination, in the case of terminations, shall give written notice to Standard & Poor’s, Ratings Services, a Standard & Poor’s Financial Services LLC business (“Standard & Poor’s”), and Moody’s Investors Service, Inc. (“Moody’s”) (collectively, the “Rating Agencies”). Immediately after receipt of notice of termination of this Custodian Agreement, the Custodian shall deliver the Receivable Files to the Trust Collateral Agent on behalf of the Noteholders and at the Custodian’s expense, at such place or places as the Trust Collateral Agent may designate, and the Trust Collateral Agent, or its agent, as the case may be, shall act as custodian for such Receivables Files on behalf of the Noteholders until such time as a successor custodian has been appointed. If, within seventy-two (72) hours after the termination of this Custodian Agreement, the Custodian has not delivered the Receivable Files in accordance with the preceding sentence, the Trust Collateral Agent may enter the premises of the Custodian and remove the Receivable Files from such premises. In connection with the administration of this Agreement, the parties may agree from time to time upon the interpretation of the provisions of this Agreement as may in their joint opinion be consistent with the general tenor and purposes of this Agreement, any such interpretation to be signed by all parties and annexed hereto.

9. Governing Law. This Custodian Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to the conflict of law provisions thereof (other than Sections 5-1401 and 5-1402 of the New York General Obligations Law).

10. Notices. All demands, notices and communications hereunder shall be in writing, electronically delivered or mailed, and shall be deemed to have been duly given upon receipt (a) in the case of the Custodian, at the following address: AmeriCredit Financial Services, Inc., 801 Cherry Street, Suite 3500, Fort Worth, Texas 76102, Attention: Chief Financial Officer, (b) in the case of the Trust Collateral Agent, at the following address: Wells

 

4


Fargo Bank, National Association, Sixth and Marquette Avenue, MAC N9311–161, Minneapolis, Minnesota 55479 (facsimile number (612) 667-3464), Attention: Corporate Trust Services/Asset Backed Administration, (c) in the case of Moody’s, at the following address: 7 World Trade Center at 250 Greenwich Street, Asset Finance Group, 24th Floor, New York, New York 10007, and (d) in the case of Standard & Poor’s via electronic delivery to Servicer_reports@sandp.com; for any information not available in electronic format, hard copies should be sent to the following address: 55 Water Street, 41st floor, New York, New York 10041-0003, Attention: ABS Surveillance Group, or at such other address as shall be designated by such party in a written notice to the other parties.

11. Binding Effect. This Custodian Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns. Concurrently with the appointment of a successor trustee under the Sale and Servicing Agreement, the parties hereto shall amend this Custodian Agreement to make said successor trustee, the successor to the Trust Collateral Agent hereunder.

[Remainder of page intentionally left blank]

 

5


IN WITNESS WHEREOF, each of the parties hereto has caused this Custodian Agreement to be executed in its name and on its behalf by a duly authorized officer on the day and year first above written.

 

WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Trust Collateral Agent
By:   /s/ Marianna C. Stershic
  Name: Marianna C. Stershic
  Title: Vice President
AMERICREDIT FINANCIAL SERVICES, INC.,
as Custodian
By:   /s/ Susan B. Sheffield
  Name: Susan B. Sheffield
  Title: Executive Vice President, Structured Finance

The foregoing Custodian Agreement

is hereby confirmed and accepted

as of the date first above written.

 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2010-1,
as Issuer

By: WILMINGTON TRUST COMPANY, not in its individual capacity but solely

as Owner Trustee on behalf of the Trust,

By:   /s/ Erik E. Overcash
  Name: Erik E. Overcash
  Title: Assistant Vice President

[Custodian Agreement]


EXHIBIT A

CUSTODIAN’S ACKNOWLEDGEMENT

AmeriCredit Financial Services, Inc. (the “Custodian”), acting as Custodian under a Custodian Agreement, dated as of February 2, 2010, between the Custodian and Wells Fargo Bank, National Association, as Trust Collateral Agent, pursuant to which the Custodian holds on behalf of the Trust Collateral Agent for the benefit of the Noteholders certain “Receivable Files,” as defined in the Sale and Servicing Agreement, dated as of February 2, 2010 (the “Sale and Servicing Agreement”), among AmeriCredit Automobile Receivables Trust 2010-1, AFS SenSub Corp., as Seller, AmeriCredit Financial Services, Inc., as Servicer, and Wells Fargo Bank, National Association as Trust Collateral Agent, and as Backup Servicer, hereby acknowledges receipt of the Receivable File for each Receivable listed in the Schedule of Receivables attached as Schedule A to said Sale and Servicing Agreement except as noted in the Custodian Exception List attached as Schedule I and the Lien Perfection Exception List attached as Schedule II hereto.

IN WITNESS WHEREOF, AmeriCredit Financial Services, Inc. has caused this acknowledgement to be executed by its duly authorized officer as of this 12th day of February, 2010.

 

AMERICREDIT FINANCIAL SERVICES, INC.,
as Custodian
By:    
Name:  
Title:  


SCHEDULE I

Custodian Exception List


SCHEDULE II

Lien Perfection Exception List

EX-10.9 7 dex109.htm LOCKBOX ACCOUNT AGREEMENT, DATED AS OF FEBRUARY 2, 2010 Lockbox Account Agreement, dated as of February 2, 2010

Exhibit 10.9

EXECUTION COPY

SERIES 2010-1 LOCKBOX ACCOUNT AGREEMENT

February 2, 2010

JPMorgan Chase Bank, N.A. (“Processor”), AmeriCredit Financial Services, Inc. (“AmeriCredit”) and Wells Fargo Bank, National Association, as Trustee (the “Trustee”), agree as follows:

1. Servicing Arrangements. AmeriCredit, as Servicer (the “Servicer”), AFS SenSub Corp., as Seller (“Seller”), AmeriCredit Automobile Receivables Trust 2010-1 (the “Trust”) and the Trustee entered into a Sale and Servicing Agreement dated as of February 2, 2010 (as amended, supplemented and otherwise modified from time to time, the “Sale and Servicing Agreement”), relating to the Receivables (as such term is defined in the Sale and Servicing Agreement), pursuant to which the Receivables were sold, transferred, assigned, or otherwise conveyed to the Trust. The Sale and Servicing Agreement contemplates the engagement of a processor and includes terms for the opening of the Lockbox Account (as defined herein), and the Indenture contemplates that the Lockbox Account will be assigned and pledged to the Trust Collateral Agent. The Sale and Servicing Agreement does not include specific terms for the provision of data processing services and deposit of remittance items. Such terms are set forth in this Lockbox Account Agreement (the “Agreement”). All capitalized terms used herein and not otherwise defined herein shall have the meanings specified in the Sale and Servicing Agreement.

2. Remittance Processing Services. In order to provide a means of collection of the Receivables which will allow the Trustee to receive the proceeds of the Receivables and related security without AmeriCredit or its Affiliates having access to the funds, the parties hereto agree for the benefit of the Trustee that the banking services (the “Service(s)”) of Processor will be used for the deposit of remittances related to the Receivables and related security.

3. Customer Remittances. Third party money wire transfer providers, which shall include Western Union Financial Services, Inc. (“ACH Service”) may from time to time electronically deposit funds in the Lockbox Account (as defined herein) on behalf of Obligors and such ACH Service shall be authorized by Processor to electronically debit the Lockbox Account for the amounts of any return items from Obligors; provided, however, the electronic debit of the Lockbox Account for any return items by all ACH Services may not exceed $100,000 in the aggregate per day. Processor is authorized to establish such arrangements, on such terms deemed prudent by Processor, with such ACH Service concerning the electronic access to the Lockbox Account.

4. The Lockbox Account.

(a) Processor (ABA No. 122100024) has established account number 662633155 (the “Lockbox Account”). Pursuant to the terms of the Indenture and during the term of this Agreement, and except as otherwise required by law (e.g., for purposes of attachment, execution and other forms of legal process), all collected funds held in the Lockbox Account shall be deemed to be the Trustee’s funds, and the Trustee will have exclusive right to control such funds and to make demand upon or otherwise require Processor to make payment of any such funds to


any person. In the event a successor Processor has become Processor, the successor Processor’s notice of the new Lockbox Account pursuant to Section 16 shall amend and replace the Lockbox Account above without the execution or filing of any document or any further act by any of the parties to this Agreement.

(b) Unless otherwise directed by the Trustee, AmeriCredit agrees that all collected funds on deposit in the Lockbox Account shall be transferred from the Lockbox Account within two Business Days by wire transfer in immediately available funds to the following account: Wells Fargo Bank, National Association, Account No. 0001038377 f/b/o 82282001; ABA No. 121000248 (the “Collection Account”).

(c) Each party hereto agrees that all funds deposited into the Lockbox Account will not be subject to deduction, setoff, banker’s lien, or any other similar right in favor of any person, except that Processor or ACH Service may setoff against the Lockbox Account the face amount of any check or other item deposited in and credited to such Lockbox Account which is subsequently returned for any reason or is otherwise not collected, necessary account adjustments as a result of errors and overdrafts related to return items. If there are insufficient funds in the Lockbox Account to pay items charged back to the Lockbox Account and AmeriCredit has not remitted payment within 10 days of demand therefor by Processor, the Trustee shall, upon provision of evidence satisfactory to the Trustee, make payment to Processor for any such amounts from funds in the Collection Account but, only to the extent that such amount was actually received by the Trustee. If there are insufficient funds in the Lockbox Account to pay items charged back to the Lockbox Account, AmeriCredit shall remit payment within 2 days of demand therefore by Processor.

5. Applicable Documentation. This Agreement supplements, rather than replaces, Processor’s deposit account agreement, terms and conditions, and other standard documentation in effect from time to time with respect to the Lockbox Account or the services provided in connection therewith (the “Applicable Documentation”), which Applicable Documentation will continue to apply to the Lockbox Account and such services, and the respective rights, powers, duties, obligations, liabilities and responsibilities of the parties thereto and hereto, to the extent not expressly conflicting with the provisions of this Agreement (however, in the event of any such conflict, the provisions of this Agreement shall control). Prior to issuing any instructions, the Trustee shall provide Processor with such documentation as Processor may reasonably request to establish the identity and authority of the individuals issuing instructions on behalf of the Trustee. The Trustee may request the Processor to provide other services with respect to the Lockbox Account; however, if such services are not authorized or otherwise covered under the Applicable Documentation, Processor’s decision to provide any such services shall be made in its sole discretion (including without limitation being subject to AmeriCredit and/or the Trustee executing such Applicable Documentation or other documentation as Processor may require in connection therewith).

6. Processor’s General Duties. Notwithstanding anything to the contrary in this Agreement: (i) Processor shall have only the duties and responsibilities with respect to the matters set forth herein as is expressly set forth in writing herein and shall not be deemed to be an agent, bailee or fiduciary for any party hereto; (ii) Processor shall be fully protected in acting or refraining from acting in good faith without investigation on any notice, instruction or request purportedly furnished to it by AmeriCredit or the Trustee in accordance with the terms hereof, in

 

2


which case the parties hereto agree that Processor has no duty to make any further inquiry whatsoever; (iii) it is hereby acknowledged and agreed that Processor has no knowledge of (and is not required to know) the terms and provisions of the Sale and Servicing Agreement referred to in Section 1 above or any other related documentation or whether any actions by the Trustee, AmeriCredit or any other person or entity are permitted or a breach thereunder or consistent or inconsistent therewith; and (iv) Processor shall not be liable to any party hereto or any other person for any action or failure to act under or in connection with this Agreement except to the extent such conduct constitutes its own willful misconduct or gross negligence.

7. Processing of Items. The provision of services shall be governed by the Processor’s Treasury Management Services Agreement, Commercial Account Agreement or other applicable agreements and related service terms (individually and collectively, the “Bank Agreements”), as may be amended from time to time, subject to the prior written consent to any such amendments of a material nature by the Trustee and AmeriCredit, which consents shall not be unreasonably withheld, conditioned or delayed.

8. Confidentiality. Processor agrees that all information concerning the Obligors of the Receivables which comes into Processor’s possession pursuant to this Agreement, other than that which is already known by Processor or to the general public, will be treated in a confidential manner.

9. Fees. Unless otherwise agreed by Processor, AmeriCredit shall pay Processor the fees set forth for this Service in Processor’s most current Price List as in effect from time to time, plus additional fees for the performance of services beyond the terms of this Agreement, or resulting from increased expenses incurred by the failure of AmeriCredit to furnish within a reasonable period of time following a request by Processor, data in a form acceptable to Processor. Processor shall look first to AmeriCredit for payment of such fees. If AmeriCredit fails to pay Processor within thirty (30) days of receipt of invoice but in any event no later than forty-five (45) days from the date of the invoice, Processor will notify the Trustee in writing as soon as practicable and provide to the Trustee a copy of such unpaid invoice. Subject to rights to terminate this Agreement pursuant to Section 14, Processor will continue to perform its services under this Agreement and the amount reflected in such invoice will be paid to Processor by the Trustee out of funds in the Collection Account on the next Distribution Date (as defined below), which follows by at least three Business Days the date of giving such notice to the Trustee. Any fees unpaid after such date will be considered unpaid fees. “Distribution Date” means the fifteenth day of the following calendar month, or, if such day is not a Business Day, the immediately following Business Day.

10. Processor’s Liability for Nonperformance. In performing the Services, Processor will exercise ordinary care and act in good faith. Processor shall be deemed to have exercised ordinary care if its action or failure to act is in conformity with general banking usages or is otherwise a commercially reasonable practice of the banking industry. Processor’s liability relating to its or its employees’, officers’ or agents’ performance or failure to perform hereunder, or for any other action or inaction of Processor, or its employees, officers or agents, shall be limited exclusively to the lesser of (i) any direct losses which are caused by the failure of Processor, its employees, officers or agents to exercise reasonable care and/or act in good faith, and (ii) the face amount of any item, check, payment or other funds lost or mishandled by the action or inaction of Processor. Under no circumstances will Processor be liable for any general,

 

3


indirect, special, incidental, punitive or consequential damages or for damages caused, in whole or in part, by the action or inaction of AmeriCredit or the Trustee, whether or not such action or inaction constitutes negligence. Processor will not be liable for any damage, loss, liability or delay caused by accidents, strikes, fire, flood, war, riot, equipment breakdown, electrical or mechanical failure, acts of God or any cause which is reasonably unavoidable or beyond its reasonable control. AmeriCredit agrees that the fees charged by Processor for the performance of this Service shall be deemed to have been established in contemplation of these limitations on Processor’s liability. In addition, AmeriCredit agrees to indemnify and hold Processor harmless from all liability on the part of Processor under this Section 10 except such liability as is attributable to the gross negligence of Processor.

11. Indemnification by AmeriCredit. AmeriCredit agrees to indemnify, defend and hold Processor harmless from and against any and all damage, loss, cost, expense or liability of any kind, including, without limitation, reasonable attorneys’ fees and court costs, which results, directly or indirectly, in whole or in part, from any negligence and willful misconduct or infidelity of AmeriCredit or any agent or employee of AmeriCredit, incurred in connection with this Agreement or the Lockbox Account or any interpleader proceeding relating thereto or from Processor acting upon information furnished by AmeriCredit under this Agreement. AmeriCredit will remain liable for all indemnification under this Section 11 after its removal and/or resignation as Servicer.

12. Other Agreements. Processor shall not be bound by any agreement between any of the other parties hereto irrespective of whether Processor has knowledge of the existence of any such agreement or the terms and provisions thereof.

13. Records. This Agreement and the performance by Processor of the Services hereunder shall not relieve Processor of any obligation imposed by law or contract regarding the maintenance of records.

14. Amendment and Termination. This Agreement may only be amended in writing signed by all parties to this Agreement. AmeriCredit or Trustee may immediately terminate this Agreement for cause, provided, however, that a similar agreement has been executed with a successor processor reasonably acceptable to the Trustee or the Trustee has consented to such termination. The Trustee may immediately terminate this Agreement and shall do so upon written notice to the other parties hereto. Otherwise, any party may terminate this Agreement on sixty (60) days’ prior written notice to the others; provided, however, that AmeriCredit shall promptly notify the Trustee of receipt of any such notice and shall arrange for alternative account services satisfactory to the Trustee prior to the termination of the Services. Upon any termination of the Agreement, the Lockbox Account shall remain open for the deposit of remittances related to the Receivables and related security for a period of at least ninety (90) days after the termination date, unless arranged otherwise between AmeriCredit and Processor. After any termination, Processor’s fees with respect to the Services it performs during such period shall be consistent with such fees at the time of such termination.

15. Successor Servicer. Each of Processor and the Trustee agrees that if the Servicer has been terminated or resigns as Servicer, this Agreement shall not thereupon terminate and the successor servicer appointed pursuant to the Sale and Servicing Agreement shall succeed, except as otherwise provided herein, to all rights, benefits, duties and obligations of the

 

4


Servicer hereunder. Prior to the termination or resignation of the Trustee or the Servicer, the Trustee or the Servicer, respectively, shall provide notice to Processor in accordance with the terms and conditions to which each of the Trustee or the Servicer, respectively, is itself entitled upon termination or resignation.

16. Successor Processor. Any company or national banking association into which Processor may be merged or converted or with which it may be consolidated, or any company or national banking association resulting from any merger, conversion or consolidation to which it shall be a party or any company or national association to which Processor may sell or transfer all or substantially all of its business (provided any such company or national banking association shall be a company organized under the laws of any state of the United States or a national banking association and shall be eligible to perform all of the duties imposed upon it by this Agreement) shall be the successor to Processor hereunder without the execution or filing of any document or any further act by any of the parties to this Agreement; provided, however, that Processor notify the Trustee and AmeriCredit of any such merger, conversion or consolidation within 30 days of its occurrence. If such successor requires the establishment of a new account, then the successor Processor shall as soon as practicable after the occurrence of any such merger, conversion or consolidation (i) establish the new Lockbox Account and (ii) send written notice to the Trustee and AmeriCredit with respect to the new Lockbox Account number.

17. Governing Law. This Agreement shall be governed by the laws of the State of Texas. All parties hereby waive all rights to a trial by jury in any action or proceeding relating to Lockbox Account or this Agreement.

18. Notices. All written notices required by this Agreement shall be delivered or mailed to the other parties at the addresses set forth below or to such other address as a party may specify in writing.

 

Processor:

   JPMorgan Chase Bank, N.A.
   2200 Ross Avenue, Floor 10
   Mail code TX1-2946,
   Dallas, TX 75201-2787
   Attention: Belinda Crow
   With a copy to:
   JPMorgan Chase Bank, N.A.
   2200 Ross Avenue, Floor 3
   Mail code TX1-2903,
   Dallas, TX 75201-2787
   Attention: Michael Lister

AmeriCredit:

   AmeriCredit Financial Services, Inc.
   801 Cherry Street, Suite 3500
   Fort Worth, Texas 76102
   Attention: Chief Financial Officer

Trustee:

   Wells Fargo Bank, National Association

 

5


   Sixth Street and Marquette Avenue
   MAC N9311-161
   Minneapolis, Minnesota 55479
   Attention: AmeriCredit Automobile Receivables Trust 2010-1

19. Bankruptcy. Processor hereby covenants and agrees that, prior to the date which is one year and one day after the payment in full of the Notes and all amounts owed under the Indenture and the Sale and Servicing Agreement, Processor will not institute against or join with any other person in instituting against the Trust or the Seller, any proceeding or file any petition against the Trust or the Seller under any bankruptcy, insolvency or similar law for the relief or aid of debtors (including, without limitation, Title 11 of the United States Code or any amendment thereto), seeking the dissolution, liquidation, arrangement, reorganization or similar relief of the Trust or the Seller or the appointment of a receiver, trustee, custodian or liquidator of the Trust or the Seller, or issue any writ, order, judgment warrant of attachment, execution or similar process against a substantial part of the property, assets or business of the Trust or the Seller. This covenant shall survive the termination of this Agreement.

[Remainder of Page Intentionally Left Blank]

 

6


PROCESSOR:     AMERICREDIT:
JPMORGAN CHASE BANK, N.A.     AMERICREDIT FINANCIAL SERVICES, INC.
By:   /s/ Patricia J. Caspary     By:   /s/ Susan B. Sheffield
  Name: Patricia J. Caspary       Name: Susan B. Sheffield
  Title: Contract Specialist Manager       Title: Executive Vice President, Structured Finance
TRUSTEE:    
WELLS FARGO BANK,    
NATIONAL ASSOCIATION,    
as Trustee    
By:   /s/ Marianna C. Stershic      
  Name: Marianna C. Stershic      
  Title: Vice President      

[Series 2010-1 Lockbox Account Agreement]

EX-10.10 8 dex1010.htm LOCKBOX PROCESSING AGREEMENT, DATED FEBRUARY 2, 2010 Lockbox Processing Agreement, dated February 2, 2010

Exhibit 10.10

EXECUTION COPY

SERIES 2010-1 LOCKBOX PROCESSING AGREEMENT

February 2, 2010

Regulus Group II LLC (“Processor”), AmeriCredit Financial Services, Inc. (“AmeriCredit”) and Wells Fargo Bank, National Association, as Trustee (the “Trustee”), agree as follows:

1. Servicing Arrangements. AmeriCredit, as Servicer (the “Servicer”), AFS SenSub Corp., as Seller (“Seller”), AmeriCredit Automobile Receivables Trust 2010-1 (the “Trust”) and the Trustee entered into a Sale and Servicing Agreement dated as of February 2, 2010 (as amended, supplemented and otherwise modified from time to time, the “Sale and Servicing Agreement”), relating to the Receivables (as such term is defined in the Sale and Servicing Agreement), pursuant to which the Receivables were sold, transferred, assigned, or otherwise conveyed to the Trust. The Sale and Servicing Agreement contemplates the engagement of a processor for lockbox services, and the Indenture contemplates that the Lockbox Account (as defined herein) will be assigned and pledged to the Trust Collateral Agent. The Sale and Servicing Agreement does not include specific terms for the provision of data processing services of remittance items. Such terms are set forth in this Lockbox Processing Agreement (the “Agreement”). For avoidance of doubt, Regulus is not a depository institution. All capitalized terms used herein and not otherwise defined herein shall have the meanings specified in the Sale and Servicing Agreement.

2. Remittance Processing Services. In order to provide a means of collection of the Receivables which will allow the Trustee to receive the proceeds of the Receivables and related security without AmeriCredit or its Affiliates having access to the funds, the parties hereto agree for the benefit of the Trustee that the processing services (the “Service(s)”) of Processor will be used for the collection and the deposit of remittances related to the Receivables and related security.

3. Customer Remittances. Obligors of the Receivables will be directed by AmeriCredit to forward their remittances to Processor at a post office address (the “Lockbox”) assigned by Processor. Processor, acting for the exclusive benefit of the Trustee, shall have unrestricted and exclusive access to the mail directed to this address. AmeriCredit agrees to notify Processor thirty (30) days in advance of any change in Obligor remittance statements and/or mailing schedule.

4. Collection of Mail. Processor will collect mail from the Lockbox at regular intervals each business day, but not less than two times daily.

5. Endorsement of Items. Processor will process, on behalf of AmeriCredit, checks and other deposited items that appear to be for deposit to the credit of AmeriCredit or its Affiliates in accordance with Processor’s Lockbox Processing Agreement and Instructions, or other applicable agreement and related service terms (individually and collectively, the “Regulus Documentation”), as appropriate.

6. Credit of Funds to Account.


(a) Processor will process the checks and other deposited items and credit the total amount to the account described below (the “Lockbox Account”). The Lockbox Account will be established at JPMorgan Chase Bank, N.A. (ABA No.: 122100024) as account number 662633155. The Lockbox Account will be maintained and all banking functions will be provided by JPMorgan Chase Bank, N.A.

(b) Unless otherwise directed by the Trustee, AmeriCredit agrees that all collected funds on deposit in the Lockbox Account shall be transferred from the Lockbox Account within two Business Days by wire transfer in immediately available funds to the following account: Wells Fargo Bank, National Association, Account No. 0001038377 f/b/o 82282001; ABA No. 121000248 (the “Collection Account”).

7. Regulus Documentation. This Agreement supplements, rather than replaces, the Regulus Documentation, terms and conditions, and other standard documentation in effect from time to time with respect to the Lockbox or the services provided by Regulus in connection therewith. The Regulus Documentation will continue to apply to the Lockbox and such services, and the respective rights, powers, duties, obligations, liabilities and responsibilities of the parties thereto and hereto, to the extent not expressly conflicting with the provisions of this Agreement (however, in the event of any such conflict, the provisions of this Agreement shall control). Prior to issuing any instructions, the Trustee shall provide Processor with such documentation as Processor may reasonably request to establish the identity and authority of the individuals issuing instructions on behalf of the Trustee. The Trustee may request the Processor to provide other services with respect to the Lockbox; however, if such services are not authorized or otherwise covered under the Regulus Documentation, Processor’s decision to provide any such services shall be made in its sole discretion (including without limitation being subject to AmeriCredit and/or the Trustee executing the Regulus Documentation or other documentation as Processor may require in connection therewith).

8. Processor’s General Duties. Notwithstanding anything to the contrary in this Agreement: (i) Processor shall have only the duties and responsibilities with respect to the matters set forth herein as is expressly set forth in writing herein and shall not be deemed to be an agent, bailee or fiduciary for any party hereto; (ii) Processor shall be fully protected in acting or refraining from acting in good faith without investigation on any notice, instruction or request purportedly furnished to it by AmeriCredit or the Trustee in accordance with the terms hereof, in which case the parties hereto agree that Processor has no duty to make any further inquiry whatsoever; (iii) it is hereby acknowledged and agreed that Processor has no knowledge of (and is not required to know) the terms and provisions of the Sale and Servicing Agreement referred to in Section 1 above or any other related documentation or whether any actions by the Trustee, AmeriCredit or any other person or entity are permitted or a breach thereunder or consistent or inconsistent therewith; and (iv) Processor shall not be liable to any party hereto or any other person for any action or failure to act under or in connection with this Agreement except to the extent such conduct constitutes its own willful misconduct or gross negligence.

9. Processing of Items. The provision of services shall be governed by the Regulus Documentation or other applicable agreements and related service terms, as may be amended from time to time, subject to the prior written consent to any such amendments of a material nature by the Trustee and AmeriCredit, which consents shall not be unreasonably withheld, conditioned or delayed.

 

2


10. Trust Correspondence. Any envelopes collected from the Lockbox which contain correspondence and other documents (including, but not limited to, certificates of title, tax receipts, insurance policy endorsements and any other documents or communications of or relating to the Receivables) will be sent to the Servicer at its current address. Any enclosed payment(s), coupon(s) or check(s) will be processed and deposited by Processor in accordance with the provisions of the Agreement.

11. Confidentiality. Processor agrees that all information concerning the Obligors of the Receivables which comes into Processor’s possession pursuant to this Agreement, other than that which is already known by Processor or to the general public, will be treated in a confidential manner.

12. Fees. Unless otherwise agreed by Processor, AmeriCredit shall pay Processor the fees set forth for this Service in Processor’s most current Price List as in effect from time to time, plus additional fees for the performance of services beyond the terms of this Agreement, or resulting from increased expenses incurred by the failure of AmeriCredit to furnish within a reasonable period of time following a request by Processor, data in a form acceptable to Processor. Processor shall look first to AmeriCredit for payment of such fees. If AmeriCredit fails to pay Processor within thirty (30) days of receipt of invoice but in any event no later than forty-five (45) days from the date of the invoice, Processor will notify the Trustee in writing as soon as practicable and provide to the Trustee a copy of such unpaid invoice. Subject to rights to terminate this Agreement pursuant to Section 17, Processor will continue to perform its services under this Agreement and the amount reflected in such invoice will be paid to Processor by the Trustee out of funds in the Collection Account on the next Distribution Date (as defined below), which follows by at least three Business Days the date of giving such notice to the Trustee. Any fees unpaid after such date will be considered unpaid fees. “Distribution Date” means the fifteenth day of the following calendar month, or, if such day is not a Business Day, the immediately following Business Day.

13. Processor’s Liability for Nonperformance. In performing the Services, Processor will exercise ordinary care and act in good faith. Processor shall be deemed to have exercised ordinary care if its action or failure to act is in conformity with general information technology processing standards. Processor’s liability relating to its or its employees’, officers’ or agents’ performance or failure to perform hereunder, or for any other action or inaction of Processor, or its employees, officers or agents, shall be limited exclusively to the lesser of (i) any direct losses which are caused by the failure of Processor, its employees, officers or agents to exercise reasonable care and/or act in good faith, and (ii) the face amount of any item, check, payment or other funds lost or mishandled by the action or inaction of Processor. Under no circumstances will Processor be liable for any general, indirect, special, incidental, punitive or consequential damages or for damages caused, in whole or in part, by the action or inaction of AmeriCredit or the Trustee, whether or not such action or inaction constitutes negligence. Processor will not be liable for any damage, loss, liability or delay caused by accidents, strikes, fire, flood, war, riot, equipment breakdown, electrical or mechanical failure, acts of God or any cause which is reasonably unavoidable or beyond its reasonable control. AmeriCredit agrees that the fees charged by Processor for the performance of this Service shall be deemed to have been established in contemplation of these limitations on Processor’s liability. In addition, AmeriCredit agrees to indemnify and hold Processor harmless from all liability on the part of Processor under this Section 13 except such liability as is attributable to the gross negligence of Processor.

 

3


14. Indemnification by AmeriCredit. AmeriCredit agrees to indemnify, defend and hold Processor harmless from and against any and all damage, loss, cost, expense or liability of any kind, including, without limitation, reasonable attorneys’ fees and court costs, which results, directly or indirectly, in whole or in part, from any negligence and willful misconduct or infidelity of AmeriCredit or any agent or employee of AmeriCredit, incurred in connection with this Agreement or the Lockbox or any interpleader proceeding relating thereto or from Processor acting upon information furnished by AmeriCredit under this Agreement. AmeriCredit will remain liable for all indemnification under this Section 14 after its removal and/or resignation as Servicer.

15. Other Agreements. Processor shall not be bound by any agreement between any of the other parties hereto irrespective of whether Processor has knowledge of the existence of any such agreement or the terms and provisions thereof.

16. Records. This Agreement and the performance by Processor of the Services hereunder shall not relieve Processor of any obligation imposed by law or contract regarding the maintenance of records.

17. Amendment and Termination. This Agreement may only be amended in writing signed by all parties to this Agreement. AmeriCredit or Trustee may immediately terminate this Agreement for cause, provided, however, that a similar agreement has been executed with a successor processor reasonably acceptable to the Trustee or the Trustee has consented to such termination. The Trustee may immediately terminate this Agreement and shall do so upon written notice to the other parties hereto. Otherwise, any party may terminate this Agreement on sixty (60) days’ prior written notice to the others; provided, however, that AmeriCredit shall promptly notify the Trustee of receipt of any such notice and shall arrange for alternative lockbox processing services satisfactory to the Trustee prior to the termination of the Services. Upon any termination of the Agreement, (a) Processor will close the Lockbox and (b) Processor will process all mail addressed to the Lockbox in the manner instructed by AmeriCredit in accordance with the Regulus Documentation for a period of at least ninety (90) days after the termination date, unless arranged otherwise between AmeriCredit and Processor. After any termination, Processor’s fees with respect to the Services it performs during such period shall be consistent with such fees at the time of such termination.

18. Successor Servicer. Each of Processor and the Trustee agrees that if the Servicer has been terminated or resigns as Servicer, this Agreement shall not thereupon terminate and the successor servicer appointed pursuant to the Sale and Servicing Agreement shall succeed, except as otherwise provided herein, to all rights, benefits, duties and obligations of the Servicer hereunder. Prior to the termination or resignation of the Trustee or the Servicer, the Trustee or the Servicer, respectively, shall provide notice to Processor in accordance with the terms and conditions to which each of the Trustee or the Servicer, respectively, is itself entitled upon termination or resignation.

19. Successor Processor. Any company or national banking association into which Processor may be merged or converted or with which it may be consolidated, or any company or national banking association resulting from any merger, conversion or consolidation to which it shall be a party or any

 

4


company or national association to which Processor may sell or transfer all or substantially all of its business (provided any such company or national banking association shall be a company organized under the laws of any state of the United States or a national banking association and shall be eligible to perform all of the duties imposed upon it by this Agreement) shall be the successor to Processor hereunder without the execution or filing of any document or any further act by any of the parties to this Agreement; provided, however, that Processor notify the Trustee and AmeriCredit of any such merger, conversion or consolidation within 30 days of its occurrence.

20. Governing Law. This Agreement shall be governed by the laws of the State of Texas. All parties hereby waive all rights to a trial by jury in any action or proceeding relating to Lockbox or this Agreement.

21. Notices. All written notices required by this Agreement shall be delivered or mailed to the other parties at the addresses set forth below or to such other address as a party may specify in writing.

 

Processor:   

Regulus Group II LLC

2012 Corporate Lane, Suite 108

Naperville, IL 60563

Attention: President & CEO

 

With a copy to:

 

Rosensteel Law

90 Park Avenue, 17th Floor

New York, New York 10016

Attention: Edward M. Rosensteel, Esq.

AmeriCredit:   

AmeriCredit Financial Services, Inc.

801 Cherry Street, Suite 3500

Fort Worth, Texas 76102

Attention: Chief Financial Officer

Trustee:   

Wells Fargo Bank, National Association

Sixth Street and Marquette Avenue

MAC N9311-161

Minneapolis, Minnesota 55479

Attention: AmeriCredit Automobile Receivables Trust 2010-1

22. Bankruptcy. Processor hereby covenants and agrees that, prior to the date which is one year and one day after the payment in full of the Notes and all amounts owed under the Indenture and the Sale and Servicing Agreement, Processor will not institute against or join with any other person in instituting against the Trust or the Seller, any proceeding or file any petition against the Trust or the Seller under any bankruptcy, insolvency or similar law for the relief or aid of debtors (including, without limitation, Title 11 of the United States Code or any amendment thereto), seeking the dissolution, liquidation, arrangement, reorganization or similar

 

5


relief of the Trust or the Seller or the appointment of a receiver, trustee, custodian or liquidator of the Trust or the Seller, or issue any writ, order, judgment warrant of attachment, execution or similar process against a substantial part of the property, assets or business of the Trust or the Seller. This covenant shall survive the termination of this Agreement.

[Remainder of Page Intentionally Left Blank]

 

6


PROCESSOR:     AMERICREDIT:
REGULUS GROUP II LLC     AMERICREDIT FINANCIAL SERVICES, INC.
By:   /s/ Kathleen Hamburger     By:   /s/ Susan B. Sheffield
  Name: Kathleen Hamburger       Name: Susan B. Sheffield
  Title: CEO & President       Title: Executive Vice President, Structured Finance

 

TRUSTEE:
WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
By:   /s/ Marianna C. Stershic
  Name: Marianna C. Stershic
  Title: Vice President

[Series 2010-1 Lockbox Processing Agreement]

-----END PRIVACY-ENHANCED MESSAGE-----