Common use of Post-ARD Contingent Interest Clause in Contracts

Post-ARD Contingent Interest. From and after the Series 2022-1 Anticipated Repayment Date, as applicable to each Tranche, until the Series 2022-1 Legal Final Maturity Date (or, if earlier, the date on which the Series 2022-1 Class A-2 Outstanding Principal Amount with respect to such Tranche has been paid in full), additional interest (“Series 2022-1 Class A-2 Quarterly Post-ARD Contingent Interest”) shall accrue on such Tranche at a per annum rate (equal to the rate determined by the Servicer to be the greater of (A) 5.00% per annum and (B) a rate equal to the amount, if any, by which (a) the sum of (x) the yield to maturity (adjusted to a quarterly bond-equivalent basis) on the Series 2022-1 Anticipated Repayment Date for such Tranche of the United States Treasury Security having a term closest to ten (10) years, plus (y) 5.00%, plus (z) (1) with respect to the Series 2022-1 Class A-2-I Notes, 1.80% and (2) with respect to the Series 2022-1 Class A-2-II Notes, 2.35% exceeds (b) such Tranche’s applicable Series 2022-1 Class A-2 Note Rate. In addition, regular interest shall continue to accrue at the Tranche’s Series 2022-1 Class A-2 Note Rate from and after such Tranche’s Series 2022-1 Anticipated Repayment Date. All computations of Series 2022-1 Class A-2 Quarterly Post-ARD Contingent Interest shall be made on the basis of a 360-day year of twelve 30-day months.

Post-ARD Contingent Interest. From and after the Series 20222017-1 Anticipated Repayment Date, as applicable to each TrancheTranche of Series 2017-1 Class A-2 Notes, until the Series 2022-1 Legal Final Maturity Date (or, if earlier, the date on which the Series 20222017-1 Class A-2 Outstanding Principal Amount with respect to such Tranche has been paid in full), additional interest (“Series 20222017-1 Class A-2 Quarterly Post-ARD Contingent Interest”) shall will accrue on such Tranche the applicable Series 2017-1 Class A-2 Notes at a per annum an annual interest rate (the “Series 2017-1 Class A-2 Quarterly Post-ARD Contingent Interest Rate”) equal to the rate determined by the Servicer to be the greater of (A) 5.00% per annum and (B) a rate equal to the amount, if any, by which (a) the sum of (x) the yield to maturity (adjusted to a quarterly bond-equivalent basis) on the such Series 2022-1 2017‑1 Anticipated Repayment Date for such Tranche of the United States Treasury Security having a term closest to ten (10) 10 years, plus (y) 5.00%, plus (z) ) (1) with respect to the Series 2022-1 2017‑1 Class A-2-I Notes, 1.801.65% and (2) with respect to the Series 2022-1 2017‑1 Class A-2-II Notes, 2.35% 1.90%, exceeds (b) such Tranche’s applicable the Series 2022-1 Class A-2 Note Rate. In addition, regular interest shall continue to accrue at the Tranche’s Series 2022-1 2017‑1 Class A-2 Note Rate from and after with respect to such Tranche’s Series 2022-1 Anticipated Repayment Date. All computations of Series 2022-1 2017‑1 Class A-2 Quarterly Post-ARD Contingent Interest shall be made on the basis of a 360-day year of and twelve 30-day months; provided that no Series 2017-1 Class A-2 Quarterly Post-ARD Contingent Interest shall accrue on any Tranche that has been defeased pursuant to Section 3.6(m).

Post-ARD Contingent Interest. From and after the Series 20222015-1 Anticipated Repayment Date, as applicable to each Tranche, until the Series 2022-1 Legal Final Maturity Date (or, if earlier, the date on which the Series 20222015-1 Class A-2 Outstanding Principal Amount with respect to such Tranche has been paid in full), additional interest (“Series 20222015-1 Class A-2 Quarterly Post-ARD Contingent Interest”) shall will accrue on such Tranche at a per annum rate (equal to the rate determined by the Servicer to be the greater of (A) 5.00% per annum and (B) a rate equal to the amount, if any, by which (a) the sum of (x) the yield to maturity (adjusted to a quarterly bond-equivalent basis) on the Series 2022-1 2015‑1 Anticipated Repayment Date for such Tranche of the United States Treasury Security having a term closest to ten (10) years, plus (y) 5.00%, plus (z) (1) with respect to the Series 20222015-1 Class A-2-I Notes, 1.80% and 1.850%, (2) with respect to the Series 20222015-1 Class A-2-II Notes, 2.35% 2.100%, and (3) with respect to the Series 2015-1 Class A-2-III Notes, 2.250%, exceeds (b) the Series 2015‑1 Class A-2 Note Rate with respect to such Tranche’s applicable . The Series 20222015-1 Class A-2 Note Rate. In addition, regular A‑2 Quarterly Post-ARD Contingent Interest shall accrue and be payable in addition to the interest shall continue to accrue accrued on the applicable Tranche at the Tranche’s Series 20222015-1 Class A-2 Note Rate from and after for such Tranche’s Series 2022-1 Anticipated Repayment Date. All computations of Series 20222015-1 Class A-2 Quarterly Post-ARD Contingent Interest shall be made on the basis of a 360-day year of twelve 30-day months.

Post-ARD Contingent Interest. From and after the Series 20222021-1 Anticipated Repayment Date, as applicable to each TrancheTranche of Series 2021-1 Class A-2 Notes, until the Series 2022-1 Legal Final Maturity Date (or, if earlier, the date on which the Series 20222021-1 Class A-2 Outstanding Principal Amount with respect to such Tranche has been paid in full), additional interest (“Series 20222021-1 Class A-2 Quarterly Post-ARD Contingent Interest”) shall will accrue on such Tranche of Series 2021-1 Class A-2 Notes at a per annum rate (equal to the rate determined by the Servicer to be the greater of (A) 5.00% per annum and (B) a rate equal to the amount, if any, by which (a) the sum of (x) the yield to maturity (adjusted to a quarterly bond-equivalent basis) on the Series 20222021-1 Anticipated Repayment Date for such Tranche of the United States Treasury Security having a term closest to ten (10) years, plus (y) 5.00%, plus (z) (1) with respect to the Series 20222021-1 Class A-2-I Notes, 1.801.15% and (2) with respect to the Series 20222021-1 Class A-2-II Notes, 2.35% 1.35%, exceeds (b) such Tranche’s applicable the Series 2022-1 Class A-2 Note Rate. In addition, regular interest shall continue to accrue at the Tranche’s Series 20222021-1 Class A-2 Note Rate from and after with respect to such Tranche’s . The Series 20222021-1 Anticipated Repayment DateClass A-2 Quarterly Post-ARD Contingent Interest shall accrue and be payable in addition to the interest accrued on the applicable Tranche at the Series 2021-1 Class A-2 Note Rate for such Tranche. All computations of Series 20222021-1 Class A-2 Quarterly Post-ARD Contingent Interest shall be made on the basis of a 360-day year of twelve 30-day months; provided that no Series 2021-1 Class A-2 Quarterly Post-ARD Contingent Interest shall accrue on any Tranche that has been defeased pursuant to Section 3.6(m).

Post-ARD Contingent Interest. From and after the Series 2022-1 2018‑1 Anticipated Repayment Date, as applicable to each TrancheTranche of Series 2018-1 Class A-2 Notes, until the Series 2022-1 Legal Final Maturity Date (or, if earlier, the date on which the Series 2022-1 2018‑1 Class A-2 Outstanding Principal Amount with respect to such Tranche has been paid in full), additional interest (“Series 2022-1 2018‑1 Class A-2 Quarterly Post-ARD Contingent Interest”) shall will accrue on such Tranche of Series 2018-1 Class A-2 Notes at a per annum rate (equal to the rate determined by the Servicer to be the greater of (A) 5.00% per annum and (B) a rate equal to the amount, if any, by which (a) the sum of (x) the yield to maturity (adjusted to a quarterly bond-equivalent basis) on the Series 2022-1 2018‑1 Anticipated Repayment Date for such Tranche of the United States Treasury Security having a term closest to ten (10) years, plus (y) 5.00%, plus (z) ) (1) with respect to the Series 2022-1 2018‑1 Class A-2-I Notes, 1.801.35% and (2) with respect to the Series 2022-1 2018‑1 Class A-2-II Notes, 2.35% 1.58%, exceeds (b) such Tranche’s applicable the Series 2022-1 Class A-2 Note Rate. In addition, regular interest shall continue to accrue at the Tranche’s Series 2022-1 2018‑1 Class A-2 Note Rate from and after with respect to such Tranche’s . The Series 20222018‑1 Class A‑2 Quarterly Post-1 Anticipated Repayment DateARD Contingent Interest shall accrue and be payable in addition to the interest accrued on the applicable Tranche at the Series 2018‑1 Class A-2 Note Rate for such Tranche. All computations of Series 2022-1 2018‑1 Class A-2 Quarterly Post-ARD Contingent Interest shall be made on the basis of a 360-day year of twelve 30-day months; provided that no Series 2018-1 Class A-2 Quarterly Post-ARD Contingent Interest shall accrue on any Tranche that has been defeased pursuant to Section 3.6(m).

Post-ARD Contingent Interest. From and after the Series 20222019-1 Anticipated Repayment Date, as applicable to each TrancheTranche of Series 2019-1 Class A-2 Notes, until the Series 2022-1 Legal Final Maturity Date (or, if earlier, the date on which the Series 20222019-1 Class A-2 Outstanding Principal Amount with respect to such Tranche has been paid in full), additional interest (“Series 20222019-1 Class A-2 Quarterly Post-ARD Contingent Interest”) shall will accrue on such Tranche of Series 2019-1 Class A-2 Notes at a per annum rate (equal to the rate determined by the Servicer to be the greater of (A) 5.00% per annum and (B) a rate equal to the amount, if any, by which (a) the sum of (x) the yield to maturity (adjusted to a quarterly bond-equivalent basis) on the Series 20222019-1 Anticipated Repayment Date for such Tranche of the United States Treasury Security having a term closest to ten (10) years, plus (y) 5.00%, plus (z) ) (1) with respect to the Series 20222019-1 Class A-2-I Notes, 1.801.863% and (2) with respect to the Series 20222019-1 Class A-2-II Notes, 2.35% 2.051%, exceeds (b) such Tranche’s applicable the Series 2022-1 Class A-2 Note Rate. In addition, regular interest shall continue to accrue at the Tranche’s Series 20222019-1 Class A-2 Note Rate from and after with respect to such Tranche’s . The Series 20222019-1 Anticipated Repayment DateClass A-2 Quarterly Post-ARD Contingent Interest shall accrue and be payable in addition to the interest accrued on the applicable Tranche at the Series 2019-1 Class A-2 Note Rate for such Tranche. All computations of Series 20222019-1 Class A-2 Quarterly Post-ARD Contingent Interest shall be made on the basis of a 360-day year of twelve 30-day months; provided that no Series 2019-1 Class A-2 Quarterly Post-ARD Contingent Interest shall accrue on any Tranche that has been defeased pursuant to Section 3.6(m).

Post-ARD Contingent Interest. From and after the Series 20222015-1 Anticipated Repayment Date, as applicable to each TrancheTranche of Series 2015-1 Class A-2 Notes, until the Series 2022-1 Legal Final Maturity Date (or, if earlier, the date on which the Series 20222015-1 Class A-2 Outstanding Principal Amount with respect to such Tranche has been paid in full), additional interest (“Series 20222015-1 Class A-2 Quarterly Post-ARD Contingent Interest”) shall will accrue on such Tranche the applicable Series 2015-1 Class A-2 Notes at a per annum an annual interest rate (the “Series 2015-1 Class A-2 Quarterly Post-ARD Contingent Interest Rate”) equal to the rate determined by the Servicer to be the greater of (A) 5.00% per annum and (B) a rate equal to the amount, if any, by which (a) the sum of (x) the yield to maturity (adjusted to a quarterly bond-equivalent basis) on the such Series 20222015-1 Anticipated Repayment Date for such Tranche of the United States Treasury Security having a term closest to ten (10) 10 years, plus (y) 5.00%, plus (z) (1) with respect to the Series 20222015-1 Class A-2-I Notes, 1.803.262% and (2) with respect to the Series 20222015-1 Class A-2-II Notes, 2.35% 3.980%, exceeds (b) such Tranche’s applicable the Series 2022-1 Class A-2 Note Rate. In addition, regular interest shall continue to accrue at the Tranche’s Series 20222015-1 Class A-2 Note Rate from and after with respect to such Tranche’s Series 2022-1 Anticipated Repayment Date. All computations of Series 20222015-1 Class A-2 Quarterly Post-ARD Contingent Interest shall be made on the basis of a 360-day year of and twelve 30-day months; provided that no Series 2015-1 Class A-2 Quarterly Post-ARD Contingent Interest shall accrue on any Tranche that has been defeased pursuant to Section 3.6(m).

Post-ARD Contingent Interest. From and after the Series 20222015-1 Anticipated Repayment Date, as Date applicable to each Tranche, a Subclass of the Series 2015-1 Class A-2 Notes until the Series 2022-1 Legal Final Maturity Date (or, if earlier, the date on which the Series 20222015-1 Class A-2 Outstanding Principal Amount with respect to such Tranche Subclass has been paid in full), additional interest will accrue on the Outstanding Principal Amount of such Subclass at an annual interest rate (the “Series 20222015-1 Class A-2 Quarterly Post-ARD Contingent InterestInterest Rate”) shall accrue on such Tranche at a per annum rate (equal to the rate determined by the Servicer to be the greater of (A) 5.005% per annum and (B) a per annum rate equal to the amountexcess, if any, by which (a1) the sum of (xa) the yield to maturity (adjusted to a quarterly bond-equivalent basis) ), on the such Subclass’ Series 20222015-1 Anticipated Repayment Date for such Tranche of the United States Treasury Security having a term closest to ten (10) years, 10 years plus (yb) 5.00%, 5% plus (zc) (1i) with respect to the Series 20222015-1 Class A-2-I Notes, 1.802.192% and (2ii) with respect to the Series 20222015-1 Class A-2-II Notes, 2.35% 2.589%, exceeds (b2) such Tranche’s applicable Subclass’ Series 2022-1 Class A-2 Note Rate. In addition, regular interest shall continue to accrue at the Tranche’s Series 20222015-1 Class A-2 Note Rate from and after (such Tranche’s additional interest, the “Series 20222015-1 Anticipated Repayment DateClass A-2 Post-ARD Contingent Interest”). All computations of Series 20222015-1 Class A-2 Quarterly Post-ARD Contingent Interest shall be made on the basis of a 360-day year of twelve 30-day months.

Post-ARD Contingent Interest. From and after the Series 20222017-1 Anticipated Repayment Date, as Date applicable to each Tranche, a Subclass of the Series 2017-1 Class A-2 Notes until the Series 2022-1 Legal Final Maturity Date (or, if earlier, the date on which the Series 20222017-1 Class A-2 Outstanding Principal Amount with respect to such Tranche Subclass has been paid in full), additional interest will accrue on the Outstanding Principal Amount of such Subclass at an annual interest rate (the “Series 20222017-1 Class A-2 Quarterly Post-ARD Contingent InterestInterest Rate”) shall accrue on such Tranche at a per annum rate (a) which for the Series 2017-1 Class A-2-II(FX) Notes and the Series 2017-1 Class A-2-III(FX) Notes will be equal to the rate determined by the Servicer to be the greater of (Ai) 5.005% per annum and (Bii) a per annum rate equal to the amountexcess, if any, by which (aA) the sum of (x) the yield to maturity (adjusted to a quarterly bond-equivalent basis) ), on the such Subclass’ Series 20222017-1 Anticipated Repayment Date for such Tranche of the United States Treasury Security having a term closest to ten (10) years, 10 years plus (y) 5.00%, 5% plus (z) (1) with respect to the Series 20222017-1 Class A-2-I II(FX) Notes, 1.801.25% and (2) with respect to the Series 20222017-1 Class A-2-II III(FX) Notes, 2.35% 2.00%, exceeds (bB) such Tranche’s applicable Subclass’ Series 20222017-1 Class A-2 Note Rate. In addition, regular interest shall continue and (b) which for the Series 2017-1 Class A-2-I(FL) Notes will be equal to accrue at 5% (such additional interest, the Tranche’s “Series 20222017-1 Class A-2 Note Rate from and after such Tranche’s Series 2022Post-1 Anticipated Repayment DateARD Contingent Interest”). All computations Computations of Series 20222017-1 Class A-2 Quarterly Post-ARD Contingent Interest shall be made calculated (i) with respect to the Series 2017-1 Class A-2-II(FX) Notes and the Series 2017-1 Class A-2-III(FX) Notes, on the basis of a 360-day year consisting of twelve 30-day months, and (ii) with respect to the Series 2017-1 Class A-2-I(FL) Notes, on the basis of a 360-day year and the actual number of days elapsed.