Common use of Security Interest in Financed Vehicle Clause in Contracts

Security Interest in Financed Vehicle. Each Receivable created or shall create a valid, binding and enforceable first priority security interest in favor of GM Financial in the Financed Vehicle. The Lien Certificate for each Financed Vehicle shows, or GM Financial has commenced procedures that will result in such Lien Certificate which will show, GM Financial named (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) as the original secured party under each Receivable as the holder of a first priority security interest in such Financed Vehicle. 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, 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). To the best of the Seller’s and the Servicer’s knowledge, 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. Receivable File A. Confirm first priority for GM Financial; i. Verify that the Receivable has an existing first priority security interest in favor of GM Financial or properly registered DBA. ii. Verify the lien certificate shows or that GM Financial has commenced procedures (which may include an application of title, a dealer guaranty or other standard documentation or practices in effect at the time of origination) that will result in such Lien Certificate which will show GM Financial or a registered DBA as the original secured party under the Receivable. B. Confirm first priority security interest directly after sale, transfer or assignment; i. Verify the Receivable has been secured by a security interest in the Financed Vehicle. ii. Verify the security interest exists prior to all other Liens and security interests in the Financed Vehicle which already exist or could exist later. iii. As of the Cutoff Date, verify that no other Liens or Claims exist affecting the Financed Vehicle that are or may be prior or equal to the Liens of the Receivable. C. If steps A and B are confirmed, then Test Passes.

Security Interest in Financed Vehicle. Each Receivable created or shall create a valid, binding and enforceable first priority security interest in favor of GM Financial AmeriCredit in the Financed Vehicle. The Lien Certificate for each Financed Vehicle shows, or GM Financial AmeriCredit has commenced procedures that will result in such Lien Certificate which will show, GM Financial AmeriCredit named (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) as the original secured party under each Receivable as the holder of a first priority security interest in such Financed Vehicle. 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, 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). To the best of the Seller’s and the Servicer’s knowledge, 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. Receivable File A. Confirm first priority for GM Financial;AmeriCredit i. Verify that the Receivable has an existing first priority security interest in favor of GM Financial AmeriCredit or properly registered DBA. ii. Verify the lien certificate shows or that GM Financial AmeriCredit has commenced procedures (which may include an application of title, a dealer guaranty or other standard documentation or practices practice in effect at the time of origination) that will result in such Lien Certificate which will show GM Financial AmeriCredit or a registered DBA as the original secured party under the Receivable. B. Confirm first priority security interest directly after sale, transfer or assignment;. i. Verify the Receivable has been secured by a security interest in the Financed VehicleVehicle in favor of the Trust Collateral Agent as the secured party. ii. Verify the security interest exists prior to all other Liens and security interests in the Financed Vehicle which already exist or could exist later. iii. As of the Cutoff Date, verify that no other Liens or Claims exist affecting the Financed Vehicle that are or may be prior or equal to the Liens of the Receivable. C. If steps A (A) and B (B) are confirmed, then Test PassesPass.

Security Interest in Financed Vehicle. Each Receivable created or shall create a valid, binding and enforceable first priority security interest in favor of GM Financial AmeriCredit in the Financed Vehicle. The Lien Certificate for each Financed Vehicle shows, or GM Financial AmeriCredit has commenced procedures that will result in such Lien Certificate which will show, GM Financial AmeriCredit named (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) as the original secured party under each Receivable as the holder of a first priority security interest in such Financed Vehicle. 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 VehicleVehicle 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). To the best of the Seller’s and the Servicer’s knowledge, 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. Receivable File A. A) Confirm first priority for GM Financial;AmeriCredit i. i) Verify that the Receivable has an existing first priority security interest in favor of GM Financial AmeriCredit or properly registered DBA. ii. ) Verify the lien certificate shows or that GM Financial AmeriCredit has commenced procedures (which may include an application of title, a dealer guaranty or other standard documentation or practices in effect at the time of origination) that will result in such Lien Certificate which will show GM Financial AmeriCredit or a registered DBA as the original secured party under the Receivable. B. B) Confirm first priority security interest directly after sale, transfer or assignment;. i. i) Verify the Receivable has been secured by a security interest in the Financed VehicleVehicle in favor of the Trust Collateral Agent as the secured party. ii. ) Verify the security interest exists prior to all other Liens and security interests in the Financed Vehicle which already exist or could exist later. iii. ) As of the Cutoff Datecutoff date, verify that no other Liens or Claims exist affecting the Financed Vehicle that are or may be prior or equal to the Liens of the Receivable. C. C) If steps A (A) and B (B) are confirmed, then Test Passesthe test passes.

Security Interest in Financed Vehicle. Each Receivable created or shall will create a valid, binding and enforceable first priority security interest in favor of GM Financial the Originator in the Financed Vehicle. The Lien Certificate and original certificate of title for each Financed Vehicle showsshow, or GM Financial has commenced procedures that will result in such if a new or replacement Lien Certificate which is being applied for with respect to such Financed Vehicle the Lien Certificate will showbe received within 180 days of the Closing Date, GM Financial named (which may be accomplished by as applicable, and will show the use of a properly registered DBA name in the applicable jurisdiction) Originator as the original secured party under each Receivable, or that such Receivable has been assigned to the Originator, 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, the Originator has applied for or received written evidence from the related Dealer or Third-Party Lender that such Lien Certificate showing the Originator as first lienholder has been applied for and the Originator's security interest has been validly assigned by the Originator to the Depositor pursuant to this Agreement and by the Depositor to the Issuer pursuant to the Sale and Servicing Agreement. Immediately after the sale, transfer and assignment thereof by the Seller Originator to the TrustDepositor and by the Depositor to the Issuer, each Receivable will be secured by an enforceable and perfected first priority security interest in the Financed VehicleVehicle in favor of the Indenture Trustee 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). To the best of the Seller’s and the Servicer’s knowledge, as As of the Cutoff Date, 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. Receivable File A. Confirm first priority for GM Financial; i. Verify that the Receivable has an existing first priority security interest in favor of GM Financial or properly registered DBA. ii. Verify the lien certificate shows or that GM Financial has commenced procedures (which may include an application of title, a dealer guaranty or other standard documentation or practices in effect at the time of origination) that will result in such Lien Certificate which will show GM Financial or a registered DBA as the original secured party under the Receivable. B. Confirm first priority security interest directly after sale, transfer or assignment; i. Verify the Receivable has been secured by a security interest in the Financed Vehicle. ii. Verify the security interest exists prior to all other Liens and security interests in the Financed Vehicle which already exist or could exist later. iii. As of the Cutoff Date, verify that no other Liens or Claims exist affecting the Financed Vehicle that are or may be prior or equal to the Liens of the Receivable. C. If steps A and B are confirmed, then Test Passes.

Security Interest in Financed Vehicle. Each Receivable created or shall create a valid, binding and enforceable first priority security interest in favor of GM Financial AmeriCredit in the Financed Vehicle. The Lien Certificate for each Financed Vehicle shows, or GM Financial AmeriCredit has commenced procedures that will result in such Lien Certificate which will show, GM Financial AmeriCredit named (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) as the original secured party under each Receivable as the holder of a first priority security interest in such Financed Vehicle. 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, 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). To the best of the Seller’s and the Servicer’s knowledge, 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. Receivable File A. Confirm first priority for GM Financial;AmeriCredit i. Verify that the Receivable has an existing first priority security interest in favor of GM Financial AmeriCredit or properly registered DBA. ii. Verify the lien certificate shows or that GM Financial AmeriCredit has commenced procedures (which may include an application of title, a dealer guaranty or other standard documentation or practices in effect at the time of origination) that will result in such Lien Certificate which will show GM Financial AmeriCredit or a registered DBA as the original secured party under the Receivable. B. Confirm first priority security interest directly after sale, transfer or assignment;. i. Verify the Receivable has been secured by a security interest in the Financed Vehicle. ii. Verify the security interest exists prior to all other Liens and security interests in the Financed Vehicle which already exist or could exist later. iii. As of the Cutoff Date, verify that no other Liens or Claims exist affecting the Financed Vehicle that are or may be prior or equal to the Liens of the Receivable. C. If steps A (A) and B (B) are confirmed, then Test PassesPass.

Security Interest in Financed Vehicle. Each Receivable created or shall create a valid, binding and enforceable first priority security interest in favor of GM Financial the Seller in the Financed Vehicle. The Lien Certificate and original certificate of title for each Financed Vehicle showsshow, or GM Financial has commenced procedures that will result in such if a new or replacement Lien Certificate which is being applied for with respect to such Financed Vehicle the Lien Certificate will showbe received within 180 days of the Closing Date or Subsequent Transfer Date, GM Financial as applicable, and will show the Seller named (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) 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, the Seller has received written evidence from the related Dealer that such Lien Certificate showing the Seller as first lienholder has been applied for and the Seller's security interest has been validly assigned by the Seller to the Trust pursuant to this Agreement. Immediately after the sale, transfer and assignment thereof by the Seller to the Trust, each Receivable will be secured by an enforceable and perfected first priority security interest in the Financed VehicleVehicle in favor of the Trustee 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). To the best As of the Seller’s and the Servicer’s knowledge, as of the related Cutoff Date, 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. Receivable File A. Confirm first priority for GM Financial; i. Verify that the Receivable has an existing first priority security interest in favor of GM Financial or properly registered DBA. ii. Verify the lien certificate shows or that GM Financial has commenced procedures (which may include an application of title, a dealer guaranty or other standard documentation or practices in effect at the time of origination) that will result in such Lien Certificate which will show GM Financial or a registered DBA as the original secured party under the Receivable. B. Confirm first priority security interest directly after sale, transfer or assignment; i. Verify the Receivable has been secured by a security interest in the Financed Vehicle. ii. Verify the security interest exists prior to all other Liens and security interests in the Financed Vehicle which already exist or could exist later. iii. As of the Cutoff Date, verify that no other Liens or Claims exist affecting the Financed Vehicle that are or may be prior or equal to the Liens of the Receivable. C. If steps A and B are confirmed, then Test Passes.

Security Interest in Financed Vehicle. Each Receivable created or ------------------------------------- shall create a valid, binding and enforceable first priority security interest in favor of GM Financial the Seller in the Financed Vehicle. The Lien Certificate and original certificate of title for each Financed Vehicle showsshow, or GM Financial has commenced procedures that will result in such if a new or replacement Lien Certificate which is being applied for with respect to such Financed Vehicle the Lien Certificate will showbe received within 180 days of the Closing Date or Subsequent Transfer Date, GM Financial as applicable, and will show the Seller named (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) 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, the Seller has received written evidence from the related Dealer that such Lien Certificate showing the Seller as first lienholder has been applied for and the Seller's security interest has been validly assigned by the Seller to the Trust pursuant to this Agreement. Immediately after the sale, transfer and assignment thereof by the Seller to the Trust, each Receivable will be secured by an enforceable and perfected first priority security interest in the Financed VehicleVehicle in favor of the Trustee 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). To the best As of the Seller’s and the Servicer’s knowledge, as of the related Cutoff Date, 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. Receivable File A. Confirm first priority for GM Financial; i. Verify that the Receivable has an existing first priority security interest in favor of GM Financial or properly registered DBA. ii. Verify the lien certificate shows or that GM Financial has commenced procedures (which may include an application of title, a dealer guaranty or other standard documentation or practices in effect at the time of origination) that will result in such Lien Certificate which will show GM Financial or a registered DBA as the original secured party under the Receivable. B. Confirm first priority security interest directly after sale, transfer or assignment; i. Verify the Receivable has been secured by a security interest in the Financed Vehicle. ii. Verify the security interest exists prior to all other Liens and security interests in the Financed Vehicle which already exist or could exist later. iii. As of the Cutoff Date, verify that no other Liens or Claims exist affecting the Financed Vehicle that are or may be prior or equal to the Liens of the Receivable. C. If steps A and B are confirmed, then Test Passes.

Security Interest in Financed Vehicle. Each Receivable created or shall create a valid, binding and enforceable first priority security interest in favor of GM Financial in the Financed Vehicle. The Lien Certificate for each Financed Vehicle shows, or GM Financial has commenced procedures that will result in such Lien Certificate which will show, GM Financial named (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) as the original secured party under each Receivable as the holder of a first priority security interest in such Financed Vehicle. 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 VehicleVehicle 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). To the best of the Seller’s and the Servicer’s knowledge, 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. Receivable File A. Confirm first priority for GM Financial; i. Verify that the Receivable has an existing first priority security interest in favor of GM Financial or properly registered DBA. ii. Verify the lien certificate shows or that GM Financial has commenced procedures (which may include an application of title, a dealer guaranty or other standard documentation or practices in effect at the time of origination) that will result in such Lien Certificate which will show GM Financial or a registered DBA as the original secured party under the Receivable. B. Confirm first priority security interest directly after sale, transfer or assignment; i. Verify the Receivable has been secured by a security interest in the Financed VehicleVehicle in favor of the Trust Collateral Agent as the secured party. ii. Verify the security interest exists prior to all other Liens and security interests in the Financed Vehicle which already exist or could exist later. iii. As of the Cutoff Date, verify that no other Liens or Claims exist affecting the Financed Vehicle that are or may be prior or equal to the Liens of the Receivable. C. If steps A and B are confirmed, then Test Passes.

Security Interest in Financed Vehicle. Each Receivable created or shall will create a valid, binding and enforceable first priority security interest in favor of GM Financial the Originator in the Financed Vehicle. The Lien Certificate and original certificate of title for each Financed Vehicle showsshow, or GM Financial has commenced procedures that will result in such if a new or replacement Lien Certificate which is being applied for with respect to such Financed Vehicle the Lien Certificate will showbe received within 180 days of the Closing Date, GM Financial named (which may be accomplished by as applicable, and will show the use of a properly registered DBA name in the applicable jurisdiction) Originator as the original secured party under each Receivable, or that such Receivable has been assigned to the Originator, 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, the Originator has applied for or received written evidence from the related Dealer or Third-Party Lender that such Lien Certificate showing the Originator as first lienholder has been applied for and the Originator’s security interest has been validly assigned by the Originator to the Depositor pursuant to this Agreement and by the Depositor to the Issuer pursuant to the Sale and Servicing Agreement. Immediately after the sale, transfer and assignment thereof by the Seller Originator to the TrustDepositor and by the Depositor to the Issuer, each Receivable will be secured by an enforceable and perfected first priority security interest in the Financed VehicleVehicle in favor of the Indenture Trustee 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). To the best of the Seller’s and the Servicer’s knowledge, as As of the Cutoff Date, Date there were no Liens or claims for taxes, work, labor or materials affecting a Financed Vehicle Vehicle, which are or may be Liens prior or equal to the Liens of the related Receivable. Receivable File A. Confirm first priority for GM Financial; i. Verify that the Receivable has an existing first priority security interest in favor of GM Financial or properly registered DBA. ii. Verify the lien certificate shows or that GM Financial has commenced procedures (which may include an application of title, a dealer guaranty or other standard documentation or practices in effect at the time of origination) that will result in such Lien Certificate which will show GM Financial or a registered DBA as the original secured party under the Receivable. B. Confirm first priority security interest directly after sale, transfer or assignment; i. Verify the Receivable has been secured by a security interest in the Financed Vehicle. ii. Verify the security interest exists prior to all other Liens and security interests in the Financed Vehicle which already exist or could exist later. iii. As of the Cutoff Date, verify that no other Liens or Claims exist affecting the Financed Vehicle that are or may be prior or equal to the Liens of the related Receivable. C. If steps A and B are confirmed, then Test Passes.

Security Interest in Financed Vehicle. Each Receivable created or shall create a valid, binding and enforceable first priority security interest in favor of GM Financial AmeriCredit in the Financed Vehicle. The Lien Certificate for each Financed Vehicle shows, or GM Financial AmeriCredit has commenced procedures that will result in such Lien Certificate which will show, GM Financial AmeriCredit named (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) as the original secured party under each Receivable as the holder of a first priority security interest in such Financed Vehicle. 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 VehicleVehicle 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). To the best of the Seller’s and the Servicer’s knowledge, 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. Receivable File A. Confirm first priority for GM Financial;AmeriCredit i. Verify that the Receivable has an existing first priority security interest in favor of GM Financial AmeriCredit or properly registered DBA. ii. Verify the lien certificate shows or that GM Financial AmeriCredit has commenced procedures (which may include an application of title, a dealer guaranty or other standard documentation or practices practice in effect at the time of origination) that will result in such Lien Certificate which will show GM Financial AmeriCredit or a registered DBA as the original secured party under the Receivable. B. Confirm first priority security interest directly after sale, transfer or assignment;. i. Verify the Receivable has been secured by a security interest in the Financed VehicleVehicle in favor of the Trust Collateral Agent as the secured party. ii. Verify the security interest exists prior to all other Liens and security interests in the Financed Vehicle which already exist or could exist later. iii. As of the Cutoff Datecutoff date, verify that no other Liens or Claims exist affecting the Financed Vehicle that are or may be prior or equal to the Liens of the Receivable. C. If steps A (A) and B (B) are confirmed, then Test Passesthe test passes.

Security Interest in Financed Vehicle. Each Receivable created or shall create a valid, binding and enforceable first priority security interest in favor of GM Financial in the Financed Vehicle. The Lien Certificate for each Financed Vehicle shows, or GM Financial has commenced procedures that will result in such Lien Certificate which will show, GM Financial named (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) as the original secured party under each Receivable as the holder of a first priority security interest in such Financed Vehicle. 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, 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). To the best of the Seller’s and the Servicer’s knowledge, as of the [related] 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. Receivable File A. Confirm first priority for GM Financial; i. Verify that the Receivable has an existing first priority security interest in favor of GM Financial or properly registered DBA. ii. Verify the lien certificate shows or that GM Financial has commenced procedures (which may include an application of title, a dealer guaranty or other standard documentation or practices in effect at the time of origination) that will result in such Lien Certificate which will show GM Financial or a registered DBA as the original secured party under the Receivable. B. Confirm first priority security interest directly after sale, transfer or assignment; i. Verify the Receivable has been secured by a security interest in the Financed Vehicle. ii. Verify the security interest exists prior to all other Liens and security interests in the Financed Vehicle which already exist or could exist later. iii. As of the [related] Cutoff Date, verify that no other Liens or Claims exist affecting the Financed Vehicle that are or may be prior or equal to the Liens of the Receivable. C. If steps A and B are confirmed, then Test Passes.

Security Interest in Financed Vehicle. Each Receivable created or shall create a valid, binding and enforceable first priority security interest in favor of GM Financial the Seller in the Financed Vehicle. The Lien Certificate and original certificate of title for each Financed Vehicle showsshow, or GM Financial has commenced procedures that will result in such if a new or replacement Lien Certificate which is being applied for with respect to such Financed Vehicle the Lien Certificate will show, GM Financial be received within 180 days of the Closing Date and will show the Seller named (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) 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, the Seller has applied for or received written evidence from the related Dealer or Third-Party Lender that such Lien Certificate showing the Seller as first lienholder has been applied for and the Seller’s security interest has been validly assigned by the Seller to the Trust pursuant to this Agreement. Immediately after the sale, transfer and assignment thereof by the Seller to the Trust, each Receivable will be secured by an enforceable and perfected first priority security interest in the Financed VehicleVehicle in favor of the Trustee 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). To the best As of the Seller’s and the Servicer’s knowledge, as of the related Cutoff Date, 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. Receivable File A. Confirm first priority for GM Financial; i. Verify that the Receivable has an existing first priority security interest in favor of GM Financial or properly registered DBA. ii. Verify the lien certificate shows or that GM Financial has commenced procedures (which may include an application of title, a dealer guaranty or other standard documentation or practices in effect at the time of origination) that will result in such Lien Certificate which will show GM Financial or a registered DBA as the original secured party under the Receivable. B. Confirm first priority security interest directly after sale, transfer or assignment; i. Verify the Receivable has been secured by a security interest in the Financed Vehicle. ii. Verify the security interest exists prior to all other Liens and security interests in the Financed Vehicle which already exist or could exist later. iii. As of the Cutoff Date, verify that no other Liens or Claims exist affecting the Financed Vehicle that are or may be prior or equal to the Liens of the Receivable. C. If steps A and B are confirmed, then Test Passes.

Security Interest in Financed Vehicle. Each Receivable created or shall create a valid, binding and enforceable first priority security interest in favor of GM Financial OFL in the Financed Vehicle. The Lien Certificate and original certificate of title for each Financed Vehicle showsshow, or GM Financial has commenced procedures that will result in such if a new or replacement Lien Certificate which is being applied for with respect to such Financed Vehicle, the Lien Certificate will be received within 180 days of the Closing Date or any Transfer Date, as applicable, and will show, GM Financial OFL named (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) 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, OFL has received written evidence from the related Dealer that such Lien Certificate showing OFL as first lienholder has been applied for, or a letter from the applicable Dealer agreeing unconditionally to repurchase the related Receivable if the certificate of title is not received by OFL within 180 days. OFL's security interest has been validly assigned by OFL to ORFC II pursuant to this Agreement or any Assignment Agreement, as applicable. Immediately after the sale, transfer and assignment thereof by the Seller ORFC II to the Trust, each Receivable will be secured by an enforceable and perfected first priority security interest in the Financed VehicleVehicle in favor of the Trust 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). To the best As of the Seller’s and the Servicer’s knowledge, as of the each Cutoff Date, 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 lien of the related Receivable. Receivable File A. Confirm first priority for GM Financial; i. Verify that the Receivable has an existing first priority security interest in favor of GM Financial or properly registered DBA. ii. Verify the lien certificate shows or that GM Financial has commenced procedures (which may include an application of title, a dealer guaranty or other standard documentation or practices in effect at the time of origination) that will result in such Lien Certificate which will show GM Financial or a registered DBA as the original secured party under the Receivable. B. Confirm first priority security interest directly after sale, transfer or assignment; i. Verify the Receivable has been secured by a security interest in the Financed Vehicle. ii. Verify the security interest exists prior to all other Liens and security interests in the Financed Vehicle which already exist or could exist later. iii. As of the Cutoff Date, verify that no other Liens or Claims exist affecting the Financed Vehicle that are or may be prior or equal to the Liens of the Receivable. C. If steps A and B are confirmed, then Test Passes.

Security Interest in Financed Vehicle. Each Receivable created or shall create a valid, binding and enforceable first priority security interest in favor of GM Financial OFL in the Financed Vehicle. The Lien Certificate and original certificate of title for each Financed Vehicle showsshow, or GM Financial has commenced procedures that will result in such if a new or replacement Lien Certificate which is being applied for with respect to such Financed Vehicle the Lien Certificate will showbe received within 180 days of the Closing Date or any Subsequent Transfer Date, GM Financial as applicable, and will show OFL named (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) 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, OFL has received written evidence from the related Dealer that such Lien Certificate showing OFL as first lienholder has been applied for. OFL's security interest has been validly assigned by OFL to the Seller and by the Seller to the Owner Trustee pursuant to this Agreement or any Subsequent Transfer Agreement, as applicable. Immediately after the sale, transfer and assignment by the Seller thereof to the Trust, each Receivable will be secured by an enforceable and perfected first priority security interest in the Financed VehicleVehicle in favor of the Trust as secured party, which security interest is prior to all other Liens 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). To the best As of the Seller’s and the Servicer’s knowledgeInitial Cutoff Date or each Subsequent Cutoff Date, as of the Cutoff Dateapplicable, 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 lien of the related Receivable. Receivable File A. Confirm first priority for GM Financial; i. Verify that the Receivable has an existing first priority security interest in favor of GM Financial or properly registered DBA. ii. Verify the lien certificate shows or that GM Financial has commenced procedures (which may include an application of title, a dealer guaranty or other standard documentation or practices in effect at the time of origination) that will result in such Lien Certificate which will show GM Financial or a registered DBA as the original secured party under the Receivable. B. Confirm first priority security interest directly after sale, transfer or assignment; i. Verify the Receivable has been secured by a security interest in the Financed Vehicle. ii. Verify the security interest exists prior to all other Liens and security interests in the Financed Vehicle which already exist or could exist later. iii. As of the Cutoff Date, verify that no other Liens or Claims exist affecting the Financed Vehicle that are or may be prior or equal to the Liens of the Receivable. C. If steps A and B are confirmed, then Test Passes.

Security Interest in Financed Vehicle. Each Receivable created or shall create a valid, binding and enforceable first priority security interest in favor of GM Financial in the Financed Vehicle. The Lien Certificate for each Financed Vehicle shows, or GM Financial has commenced procedures that will result in such Lien Certificate which will show, GM Financial named (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) as the original secured party under each Receivable as the holder of a first priority security interest in such Financed Vehicle. 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, 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). To the best of the Seller’s and the Servicer’s knowledge, as of the [related] 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. Receivable File A. Confirm first priority for GM Financial; i. Verify that the Receivable has an existing first priority security interest in favor of GM Financial or properly registered DBA. ii. Verify the lien certificate shows or that GM Financial has commenced procedures (which may include an application of title, a dealer guaranty or other standard documentation or practices in effect at the time of origination) that will result in such Lien Certificate which will show GM Financial or a registered DBA as the original secured party under the Receivable. B. Confirm first priority security interest directly after sale, transfer or assignment; i. Verify the Receivable has been secured by a security interest in the Financed VehicleVehicle in favor of the Trust Collateral Agent as the secured party. ii. Verify the security interest exists prior to all other Liens and security interests in the Financed Vehicle which already exist or could exist later. iii. As of the [related] Cutoff Date, verify that no other Liens or Claims exist affecting the Financed Vehicle that are or may be prior or equal to the Liens of the Receivable. C. If steps A and B are confirmed, then Test Passes.