Mercedes-Benz Auto Receivables Trust 2024-1
EXHIBIT 10.4
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>7
<FILENAME>ef20019908_ex10-4.htm
<DESCRIPTION>EXHIBIT 10.4
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge
         Document created using Broadridge PROfile 23.12.1.5186
         Copyright 1995 - 2024 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
    <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.4</font><br>
    </div>
    <div style="text-align: right;"><font style="font-weight: bold;"> <br>
      </font></div>
    <div>
      <div style="text-align: center; color: rgb(0, 0, 0);">MERCEDES-BENZ AUTO RECEIVABLES TRUST 2024-1,</div>
      <div style="text-align: center;">&#160;as Issuer, </div>
      <div>&#160;</div>
      <div style="text-align: center; color: rgb(0, 0, 0);">MERCEDES-BENZ FINANCIAL SERVICES USA LLC,</div>
      <div style="text-align: center;">&#160;as Administrator, </div>
      <div>&#160;</div>
      <div style="text-align: center; color: rgb(0, 0, 0);">MERCEDES-BENZ RETAIL RECEIVABLES LLC,</div>
      <div style="text-align: center;">&#160;as Depositor, </div>
      <div>&#160;</div>
      <div style="text-align: center; color: rgb(0, 0, 0);">and</div>
      <div>&#160;</div>
      <div style="text-align: center; color: rgb(0, 0, 0);">U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION,</div>
      <div style="text-align: center;">&#160;as Indenture Trustee </div>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" border="0" align="center" style="border-collapse: collapse; width: 30%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;" id="z23be0c247c084a9eaa5b3f3b40d06b06">

          <tr>
            <td style="width: 30%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0);"> <br>
              </div>
              <div style="text-align: center; color: rgb(0, 0, 0);">ADMINISTRATION AGREEMENT</div>
              <div style="text-align: center; color: rgb(0, 0, 0);"> <br>
              </div>
              <div style="text-align: center; color: rgb(0, 0, 0);">Dated as of January 1, 2024</div>
              <div style="text-align: center; color: rgb(0, 0, 0);"> <br>
              </div>
            </td>
          </tr>

      </table>
      <div>
        <div><br>
        </div>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <!--PROfilePageNumberReset%LCR%1%%%-->
      <div style="text-align: center; color: rgb(0, 0, 0);">TABLE OF CONTENTS</div>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zc9f9f7bedddd421490ff13041103fb3a">

          <tr>
            <td style="width: 13%; vertical-align: top;">&#160;</td>
            <td style="width: 77%; vertical-align: top;">&#160;</td>
            <td style="width: 10%; vertical-align: top;">
              <div style="text-align: right; color: rgb(0, 0, 0);"><u>Page</u></div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top;" rowspan="1">&#160;</td>
            <td style="width: 77%; vertical-align: top;" rowspan="1">&#160;</td>
            <td style="width: 10%; vertical-align: top;" rowspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Section 1.01.</div>
            </td>
            <td style="width: 77%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Capitalized Terms; Interpretive Provisions</div>
            </td>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top;">
              <div>Section 1.02.</div>
            </td>
            <td style="width: 77%; vertical-align: top;">
              <div>Duties of the Administrator</div>
            </td>
            <td style="width: 10%; vertical-align: top;">
              <div style="text-align: right;">2</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Section 1.03.</div>
            </td>
            <td style="width: 77%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Records</div>
            </td>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top;">
              <div>Section 1.04.</div>
            </td>
            <td style="width: 77%; vertical-align: top;">
              <div>Compensation</div>
            </td>
            <td style="width: 10%; vertical-align: top;">
              <div style="text-align: right;">8</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Section 1.05.</div>
            </td>
            <td style="width: 77%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Additional Information to be Furnished to the Issuer</div>
            </td>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top;">
              <div>Section 1.06.</div>
            </td>
            <td style="width: 77%; vertical-align: top;">
              <div>Independence of the Administrator</div>
            </td>
            <td style="width: 10%; vertical-align: top;">
              <div style="text-align: right;">9</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Section 1.07.</div>
            </td>
            <td style="width: 77%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>No Joint Venture</div>
            </td>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top;">
              <div>Section 1.08.</div>
            </td>
            <td style="width: 77%; vertical-align: top;">
              <div>Other Activities of Administrator</div>
            </td>
            <td style="width: 10%; vertical-align: top;">
              <div style="text-align: right;">9</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Section 1.09.</div>
            </td>
            <td style="width: 77%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Term of Agreement; Resignation and Removal of Administrator</div>
            </td>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top;">
              <div>Section 1.10.</div>
            </td>
            <td style="width: 77%; vertical-align: top;">
              <div>Action Upon Termination, Resignation or Removal</div>
            </td>
            <td style="width: 10%; vertical-align: top;">
              <div style="text-align: right;">10</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Section 1.11.</div>
            </td>
            <td style="width: 77%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Notices</div>
            </td>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top;">
              <div>Section 1.12.</div>
            </td>
            <td style="width: 77%; vertical-align: top;">
              <div>Amendments</div>
            </td>
            <td style="width: 10%; vertical-align: top; text-align: right;">11</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Section 1.13.</div>
            </td>
            <td style="width: 77%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Successors and Assigns</div>
            </td>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top;">
              <div>Section 1.14.</div>
            </td>
            <td style="width: 77%; vertical-align: top;">
              <div>Governing Law</div>
            </td>
            <td style="width: 10%; vertical-align: top;">
              <div style="text-align: right;">11</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Section 1.15.</div>
            </td>
            <td style="width: 77%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>WAIVER OF JURY TRIAL</div>
            </td>
            <td style="width: 10%; vertical-align: top; text-align: right; background-color: rgb(204, 238, 255);">12</td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top;">
              <div>Section 1.16.</div>
            </td>
            <td style="width: 77%; vertical-align: top;">
              <div>Table of Contents and Headings</div>
            </td>
            <td style="width: 10%; vertical-align: top;">
              <div style="text-align: right;">12</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Section 1.17.</div>
            </td>
            <td style="width: 77%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Counterparts</div>
            </td>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top;">
              <div>Section 1.18.</div>
            </td>
            <td style="width: 77%; vertical-align: top;">
              <div>Severability</div>
            </td>
            <td style="width: 10%; vertical-align: top;">
              <div style="text-align: right;">12</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Section 1.19.</div>
            </td>
            <td style="width: 77%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Limitation of Liability of Owner Trustee and Indenture Trustee</div>
            </td>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top;">
              <div>Section 1.20.</div>
            </td>
            <td style="width: 77%; vertical-align: top;">
              <div>Third&#8209;Party Beneficiary</div>
            </td>
            <td style="width: 10%; vertical-align: top;">
              <div style="text-align: right;">13</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Section 1.21.</div>
            </td>
            <td style="width: 77%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Successor Servicer and Administrator</div>
            </td>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">13</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top;">
              <div>Section 1.22.</div>
            </td>
            <td style="width: 77%; vertical-align: top;">
              <div>Nonpetition Covenants</div>
            </td>
            <td style="width: 10%; vertical-align: top;">
              <div style="text-align: right;">13</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Section 1.23.</div>
            </td>
            <td style="width: 77%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div>Electronic Signatures</div>
            </td>
            <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">13</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z5927bf3f76ee40bea3b1d126f730f70e">

          <tr>
            <td style="width: 62.82%; vertical-align: top;" rowspan="1" colspan="2">
              <div style="text-align: center; color: rgb(0, 0, 0);">EXHIBITS</div>
            </td>
          </tr>
          <tr>
            <td style="width: 62.82%; vertical-align: top;" rowspan="1" colspan="2">&#160;</td>
          </tr>
          <tr>
            <td style="width: 62.82%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="margin-right: 36pt;">Exhibit A - Form of Power of Attorney</div>
            </td>
            <td style="width: 37.18%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A-1</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">i</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="color: rgb(0, 0, 0); text-indent: 36pt;">This ADMINISTRATION AGREEMENT, dated as of January 1, 2024 (as amended, restated, supplemented or otherwise modified from time to time, this &#8220;Agreement&#8221;), is among MERCEDES-BENZ AUTO RECEIVABLES
        TRUST 2024-1, as issuer (the &#8220;Issuer&#8221;), MERCEDES-BENZ FINANCIAL SERVICES USA LLC (&#8220;MBFS USA&#8221;), as administrator (the &#8220;Administrator&#8221;), MERCEDES-BENZ RETAIL RECEIVABLES LLC (&#8220;Mercedes-Benz Retail Receivables&#8221;), as depositor (the &#8220;Depositor&#8221;), and
        U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, not in its individual capacity but solely as indenture trustee (the &#8220;Indenture Trustee&#8221;).</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: rgb(0, 0, 0);">WHEREAS, the Issuer was continued pursuant to an amended and restated trust agreement, dated as of January 1, 2024 (the &#8220;Trust Agreement&#8221;), between the Depositor and Wilmington Trust, National
        Association, as owner trustee (the &#8220;Owner Trustee&#8221;);</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: rgb(0, 0, 0);">WHEREAS, the Issuer is issuing the Notes pursuant to an indenture, dated as of the date hereof (the &#8220;Indenture&#8221;), between the Issuer and the Indenture Trustee;</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: rgb(0, 0, 0);">WHEREAS, in connection with the issuance of the Notes and of certain beneficial ownership interests in the Issuer, certain documents have been executed, including (i) the Indenture, (ii) a sale and
        servicing agreement, dated as of the date hereof (the &#8220;Sale and Servicing Agreement&#8221;), among the Issuer, the Depositor, MBFS USA, as seller (in such capacity, the &#8220;Seller&#8221;) and as servicer (in such capacity, the &#8220;Servicer&#8221;), and (iii) a receivables
        purchase agreement, dated as of the date hereof (the &#8220;Receivables Purchase Agreement&#8221;), between the Seller and the Depositor;</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: rgb(0, 0, 0);">WHEREAS, pursuant to the Trust Agreement, the Sale and Servicing Agreement and the Indenture, the Issuer and the Owner Trustee are required to perform certain duties in connection with the (i)
        Notes and the collateral therefor pledged pursuant to the Indenture (the &#8220;Collateral&#8221;) and (ii) beneficial ownership interests in the Issuer;</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: rgb(0, 0, 0);">WHEREAS, the Issuer and the Owner Trustee desire to have the Administrator perform certain of the duties of the Issuer and the Owner Trustee referred to in the preceding clause and to provide such
        additional services consistent with the terms of this Agreement and the other Basic Documents as the Issuer and the Owner Trustee may from time to time request; and</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: rgb(0, 0, 0);">WHEREAS, the Administrator has the capacity to provide the services required hereby and is willing to perform such services for the Issuer and the Owner Trustee on the terms set forth herein.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: rgb(0, 0, 0);">NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and of other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the
        parties hereto agree as follows:</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">Section 1.01.&#160; <u>Capitalized Terms; Interpretive Provisions</u>.&#160; Capitalized terms used herein that are not otherwise defined shall have the meanings ascribed thereto in Appendix A to the Sale and Servicing
        Agreement, which Appendix is hereby incorporated into and made a part of this Agreement.&#160; Appendix A also contains rules as to usage applicable to this Agreement.</div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <!--PROfilePageNumberReset%Num%2%%%-->
      <div style="text-indent: 36pt;">Section 1.02.&#160; <u>Duties of the Administrator</u>.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Administrator agrees to perform all of its duties as Administrator, including its duties under the Indenture and the Asset Representations Review Agreement,
        and, except as specifically excluded herein, agrees to perform all the duties of the Issuer and the Owner Trustee under the Issuer Basic Documents.&#160; In addition, the Administrator shall consult with the Owner Trustee regarding the duties of the
        Issuer or the Owner Trustee under the Issuer Basic Documents.&#160; The Administrator shall monitor the performance of the Issuer and shall advise the Owner Trustee when action is necessary to comply with the respective duties of the Issuer and the
        Owner Trustee under the Issuer Basic Documents.&#160; Further, on behalf of the Issuer, the Administrator shall perform the duties and obligations related to a transition from the then-current Benchmark, including but not limited to the determination of
        a Benchmark Transition Event and its related Benchmark Replacement Date and any SOFR Adjustment Conforming Changes or Benchmark Replacement Conforming Changes pursuant to the terms of the Indenture. The Administrator shall perform such calculations
        (including any calculations related to a transition from the then-current Benchmark <font style="color: rgb(0, 0, 0);">pursuant to the terms of the Indenture), and </font>shall prepare for execution by the Issuer, or shall cause the preparation
        by other appropriate persons of, all such documents, reports, notices, filings, instruments, certificates and opinions that it shall be the duty of the Issuer or either Trustee to prepare, file or deliver pursuant to the Issuer Basic Documents.&#160; In
        furtherance of the foregoing, the Administrator shall take (or, in the case of the immediately preceding sentence, cause to be taken) all appropriate action that the Issuer or the Owner Trustee is required to take pursuant to the Indenture
        including such of the foregoing actions as are required with respect to the following matters under the Indenture (references are to Sections of the Indenture):</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the preparation of or obtaining of the documents and instruments required for execution and authentication of the Notes and
          delivery of the same to the Indenture Trustee (Section 2.02);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the duty to cause the Note Register to be kept and to give the Indenture Trustee notice of any appointment of a new Note
          Registrar and the location, or change in location, of the Note Register (Section 2.05(a));</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the determination of whether the requirements of Section 8-401 of the UCC are met (Sections 2.05(c) and (d));</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the preparation of an Issuer Request requesting the Indenture Trustee to authenticate and deliver replacement Notes in lieu of
          mutilated, destroyed, lost or stolen Notes (Section 2.06);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the preparation of Definitive Notes in accordance with the instructions of the Clearing Agency (Section 2.12);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the preparation, obtaining or filing of the instruments, opinions and certificates and other documents required for the release
          of Collateral (Section 2.13);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the direction of the Indenture Trustee to appoint one or more Authenticating Agents (Section 2.15);</font></div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(viii)</font>&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the determination of the SOFR Rate (or other then-current Benchmark), and all other determinations relating to a Benchmark
          Transition Event and its related Benchmark Replacement Date, making SOFR Adjustment Conforming Changes and, in connection with the implementation of a Benchmark Replacement, Benchmark Replacement Conforming Changes, from time to time (Section
          2.16);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(ix)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the maintenance of an office for registration of transfer or exchange of Notes, and where notices and demands to or upon the
          Issuer in respect of the Notes and the Indenture may be served (Section 3.02);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(x)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the duty to cause newly appointed Paying Agents, if any, to deliver to the Indenture Trustee the instrument specified in the
          Indenture regarding funds held in trust (Section 3.03);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the direction to the Indenture Trustee to deposit monies with Paying Agents, if any, other than the Indenture Trustee (Section
          3.03);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xii)</font>&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the obtaining and preservation of the Issuer&#8217;s qualifications to do business in each jurisdiction where such qualification is or
          shall be necessary to protect the validity and enforceability of the Indenture, the Notes, the Collateral and each other instrument or agreement included in the Trust Estate, including all licenses required under the (A) Maryland Vehicle Sales
          Finance Act and (B) Pennsylvania Motor Vehicle Sales Finance Act (Section 3.04);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xiii)</font>&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the preparation of all supplements and amendments to the Indenture and all financing statements, continuation statements,
          instruments of further assurance and other instruments and the taking of such other actions as are necessary or advisable to protect the Trust Estate (Section 3.05);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xiv)</font>&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the delivery of the Opinion of Counsel on the Closing Date and the annual delivery of Opinions of Counsel as to the Trust Estate,
          and the annual delivery of the Officer&#8217;s Certificate and certain other statements as to compliance with the Indenture (Sections 3.06 and 3.09);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xv)</font>&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the identification to the Indenture Trustee in an Officer&#8217;s Certificate of a Person with whom the Issuer has contracted to
          perform its duties under the Indenture (Section 3.07(b));</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xvi)</font>&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the preparation and delivery of written notice to the Indenture Trustee, the Depositor and the Rating Agencies of each Servicer
          Termination Event and, if such Servicer Termination Event arises 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 taking of all reasonable
          steps available to remedy such failure (Section 3.07(d));</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xvii)</font>&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the preparation and obtaining of documents and instruments required for the conveyance or transfer by the Issuer of its
          properties or assets (Section 3.10(b));</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xviii)</font>&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the duty to cause the Servicer to comply with the Sale and Servicing Agreement (Section 3.12);</font></div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xix)</font>&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the delivery of written notice to the Indenture Trustee and each Rating Agency of each Event of Default under the Indenture and
          each default by the Servicer, the Seller or the Depositor under the Sale and Servicing Agreement or by the Seller or the Purchaser under the Receivables Purchase Agreement (Section 3.17);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xx)</font>&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the monitoring of the Issuer&#8217;s obligations as to the satisfaction and discharge of the Indenture and the preparation of an
          Officer&#8217;s Certificate and the obtaining of the Opinion of Counsel and the Independent Certificate relating thereto (Section 4.01);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xxi)</font>&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the compliance with Section 5.04 of the Indenture with respect to the sale of the Trust Estate if an Event of Default shall have
          occurred and be continuing (Section 5.04);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xxii)</font>&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the preparation and delivery of notice to Noteholders of the removal of the Indenture Trustee and the appointment of a successor
          Indenture Trustee (Section 6.08);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xxiii)</font>&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the preparation of any written instruments required to confirm more fully the authority of any co&#8209;trustee or separate trustee and
          any written instruments necessary in connection with the resignation or removal of the Indenture Trustee or any co&#8209;trustee or separate trustee (Sections 6.08 and 6.10);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xxiv)</font>&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the furnishing of the Indenture Trustee with the names and addresses of Noteholders during any period when the Indenture Trustee
          is not the Note Registrar (Section 7.01);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xxv)</font>&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the preparation and, after execution by the Issuer, the filing with the Commission and the Indenture Trustee of documents required
          to be filed on a periodic basis with, and summaries thereof as may be required by rules and regulations prescribed by the Commission and the transmission of such summaries, as necessary, to the Noteholders (Section 7.03);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xxvi)</font>&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the opening of one or more accounts in the Indenture Trustee&#8217;s name, established with the Securities Intermediary and the taking
          of all other actions necessary with respect to investment and reinvestment of funds in such accounts (Sections 8.02 and 8.03);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xxvii)</font>&#160;&#160; <font style="color: rgb(0, 0, 0);">the preparation of an Issuer Request and Officer&#8217;s Certificate and the obtaining of an Opinion of Counsel and Independent
          Certificates, if necessary, for the release of the Trust Estate (Sections 8.04 and 8.05);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xxviii)</font>&#160; <font style="color: rgb(0, 0, 0);">the preparation of Issuer Requests and Officer&#8217;s Certificates, the obtaining of Opinions of Counsel and the certification to the
          Indenture Trustee with respect to the execution of supplemental indentures and the mailing to the Noteholders and the Rating Agencies, as applicable, of notices with respect to such supplemental indentures (Sections 9.01 and 9.02);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xxix)</font>&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the preparation and delivery of all Officer&#8217;s Certificates, Opinions of Counsel and Independent Certificates with respect to any
          requests by the Issuer to the Indenture Trustee to take any action under the Indenture (Section 11.01(a));</font></div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">4</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xxx)</font>&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the preparation and delivery of Officer&#8217;s Certificates and the obtaining of Opinions of Counsel and Independent Certificates, if
          necessary, for the release of property from the Lien of the Indenture (Section 11.01(b));</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xxxi)</font>&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the preparation and delivery of written notice to the Rating Agencies, upon the failure of the Issuer, the Depositor or the
          Indenture Trustee to give such notification, of the information required pursuant to the Indenture (Section 11.04); and</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(xxxii)</font>&#160;&#160; <font style="color: rgb(0, 0, 0);">the recording of the Indenture, if applicable (Section 11.16).</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Administrator shall:</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: rgb(0, 0, 0);">pay or cause the Servicer to pay to the Indenture Trustee from time to time such compensation and fees for all services rendered
          by the Indenture Trustee under the Indenture as have been agreed to in a separate fee schedule between the Administrator and the Indenture Trustee (which compensation shall not be limited by any Applicable Law in regard to the compensation of a
          trustee of an express trust);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">except as otherwise expressly provided in the Indenture, reimburse the Indenture Trustee upon its request for all reasonable
          expenses, disbursements and advances incurred or made by the Indenture Trustee in accordance with any provision of the Basic Documents (including the reasonable compensation, expenses and disbursements of its agents and counsel), except any such
          expense, disbursement or advance as may be attributable to its willful misconduct, negligence or bad faith;</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">indemnify, or cause the Servicer to indemnify, the Indenture Trustee for, and hold it harmless, or cause the Servicer to hold
          it harmless, against, any and all losses, liabilities or expenses, including attorneys&#8217; fees, incurred by it in connection with the administration of the Issuer and the performance of its duties under the Indenture, including any Expenses
          incurred by the Indenture Trustee in connection with the enforcement of the Administrator or Servicer&#8217;s indemnification or other obligations hereunder, except the Indenture Trustee will not be indemnified for, or held harmless against, any loss,
          liability or expense incurred by it through its own willful misconduct, negligence or bad faith;</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">except as otherwise expressly provided in the third sentence of Section 7.01 of the Trust Agreement, reimburse the Owner Trustee
          upon its request for all reasonable expenses, disbursements and advances incurred or made by the Owner Trustee in accordance with any provision of the Trust Agreement (including reasonable compensation, expenses and disbursements of its agents
          and counsel), except any such expense, disbursement or advance as may be attributable to its willful misconduct, negligence or bad faith of the Owner Trustee;</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">indemnify the Owner Trustee and its agents, successors, assigns, directors, officers and employees for, and hold them harmless
          against, any loss, obligation, damage, tax, claim, suit, liability or expense incurred without negligence, willful misconduct or bad faith on their part, arising out of or in connection with the acceptance or administration of the transactions
          contemplated by the Trust Agreement, including the reasonable costs and expenses of defending themselves against any claim or liability in connection with the exercise or performance of any of their powers or duties under the Trust Agreement; and</font></div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">5</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">promptly appoint a successor Indenture Trustee pursuant to Section 6.08 of the Indenture, upon the Indenture Trustee&#8217;s
          resignation or removal, or if the office of the Indenture Trustee becomes vacant for any other reason.</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In addition to the duties set forth in Sections 1.02(a) and (b), the Administrator shall (i) execute on behalf of the Issuer or the Owner Trustee and (ii) perform
        such calculations and shall prepare or shall cause the preparation by other appropriate Persons of all such documents, notices, reports, filings, instruments, certificates and opinions that the Issuer or the Owner Trustee are required to prepare,
        file or deliver pursuant to the Issuer Basic Documents or are otherwise authorized to prepare, file or deliver pursuant to the Basic Documents, and at the request of the Owner Trustee, shall take all appropriate action that the Issuer or the Owner
        Trustee are required to take pursuant to the Issuer Basic Documents.&#160; In furtherance thereof, the Owner Trustee shall, on behalf of itself and of the Issuer, execute and deliver to the Administrator and to each successor Administrator appointed
        pursuant to the terms hereof, one or more powers of attorney substantially in the form of Exhibit A, appointing the Administrator the attorney-in-fact of the Owner Trustee and the Issuer for the purpose of executing on behalf of the Owner Trustee
        and the Issuer all such documents, reports, filings, instruments, certificates and opinions.&#160; Subject to Section 1.06, and in accordance with the directions of the Owner Trustee, the Administrator 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 Owner Trustee and are reasonably within the
        capability of the Administrator.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Notwithstanding anything in this Agreement or the other Basic Documents to the contrary, the Administrator shall be responsible for promptly notifying the Owner
        Trustee in the event that any withholding tax is imposed on the Issuer&#8217;s payments (or allocations of income) to a Certificateholder as contemplated in Section 5.01(d) of the Trust Agreement.&#160; Any such notice shall specify the amount of any
        withholding tax required to be withheld by the Owner Trustee pursuant to such provision.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Notwithstanding anything in this Agreement or the other Basic Documents to the contrary, the Administrator shall be responsible for performance of the duties of
        the Owner Trustee set forth in Section 5.04 of the Trust Agreement with respect to, among other things, accounting and reports to Certificateholders.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;To the extent that any tax withholding is required, the Administrator shall deliver to the Owner Trustee and the Indenture Trustee, on or before January 31, 2025,
        a certificate of an Authorized Officer in form and substance satisfactory to the Owner Trustee as to such tax withholding and the procedures to be followed with respect thereto to comply with the requirements of the Code.&#160; The Administrator shall
        update such certificate if any additional tax withholding is subsequently required or any previously required tax withholding shall no longer be required.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(g)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Administrator shall perform the duties of the Administrator specified in Section 10.02 of the Trust Agreement required to be performed in connection with the
        resignation or removal of the Owner Trustee, and any other duties expressly required to be performed by the Administrator under the Trust Agreement, the Asset Representations Review Agreement or any other Basic Document.</div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">6</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(h)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In carrying out the foregoing duties or any of its other obligations under this Agreement, the Administrator may enter into transactions 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 Administrator&#8217;s opinion, no less favorable to the Issuer than would
        be available from unaffiliated parties.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;With respect to matters that in the reasonable judgment of the Administrator are non&#8209;ministerial, the Administrator shall not take any action unless within a
        reasonable time before the taking of such action, the Administrator shall have notified the Owner Trustee of the proposed action and the Owner Trustee shall not have withheld consent, which consent shall not be unreasonably withheld or delayed, or
        provided an alternative direction.&#160; For the purpose of the preceding sentence, &#8220;non&#8209;ministerial matters&#8221; shall include:</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: rgb(0, 0, 0);">the amendment of or any supplement to the Indenture;</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">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);</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the amendment, change or modification of the Basic Documents;</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: rgb(0, 0, 0);">the appointment of successor Note Registrars, successor Paying Agents and successor Indenture Trustees pursuant to the
          Indenture or the appointment of successor Administrators or Successor Servicers, or the consent to the assignment by the Note Registrar, any Paying Agent or Indenture Trustee of its obligations under the Indenture;</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: rgb(0, 0, 0);">the appointment of successor Owner Trustees pursuant to the Trust Agreement; and</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">the removal of the Indenture Trustee.</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(j)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Notwithstanding anything to the contrary in this Agreement, the Administrator shall not be obligated to, and shall not, (i) make any payments to the Noteholders
        under the Basic Documents, (ii) take any other action that the Issuer directs the Administrator not to take on its behalf or (iii) take any other action which may be construed as having the effect of varying the investment of the Securityholders.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(k)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Administrator may enter into subservicing agreements with one or more subservicers for the performance of all or part of the Administrator&#8217;s duties hereunder.&#160;
        References herein to actions taken or to be taken by the Administrator include actions taken or to be taken by a subservicer on behalf of the Administrator.&#160; Each subservicing agreement will be upon such terms and conditions as are not inconsistent
        with this Agreement and as the Administrator and the subservicer have agreed.</div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">7</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(l)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If requested by the Depositor for purposes of compliance with its reporting obligations under the Exchange Act, the Administrator will provide to the Depositor and
        the Servicer on or before March 1 of each year beginning March 1, 2025, the servicing criteria assessment required to be filed in respect of the Issuer under the Exchange Act under Item 1122 of Regulation AB if periodic reports under Section 15(d)
        of the Exchange Act, or any successor provision thereto, are required to be filed in respect of the Issuer and shall cause a firm of independent certified public accountants, who may also render other services to the Administrator, the Servicer,
        the Seller or the Depositor, to deliver to the Depositor and the Servicer the attestation report that would be required to be filed in respect of the Issuer under the Exchange Act if periodic reports under Section 15(d) of the Exchange Act, or any
        successor provision thereto, were required to be filed in respect of the Issuer.&#160; Such attestation shall 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.&#160; In the event that an
        overall opinion cannot be expressed, such registered public accounting firm shall state in such report why it was unable to express such an opinion.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">The Administrator and the Depositor acknowledge and agree that the purpose of this Section 1.02(l) is to facilitate compliance by the Depositor with the provisions of Regulation AB and the related rules and regulations
        of the Commission.&#160; The Depositor shall not exercise its right to request delivery of information or other performance under these provisions other than in good faith, or for purposes other than compliance with the Securities Act, the Exchange Act
        and the rules and regulations of the Commission under the Securities Act and the Exchange Act.&#160; The Administrator 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 the Administrator agrees to comply with all reasonable requests made by the Depositor in good faith
        for delivery of information and shall deliver to the Depositor all information and certifications reasonably required by the Depositor to comply with its Exchange Act reporting obligations, including with respect to any of its predecessors or
        successors. The obligations of the Administrator to provide such information shall survive the removal or termination of the Administrator as Administrator hereunder.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">Section 1.03.&#160; <u>Records</u>.&#160; The Administrator shall maintain appropriate books of account and records relating to services performed hereunder, which books of account and records shall be accessible for inspection
        by the Issuer and the Depositor at any time during normal business hours, upon reasonable prior notice.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">Section 1.04.&#160; <u>Compensation</u>.&#160; As compensation for the performance of the Administra-tor&#8217;s obligations under this Agreement and as reimbursement for its expenses related thereto, the Administrator shall be
        entitled to a monthly payment of compensation which shall be solely an obligation of the Servicer.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">Section 1.05.&#160; <u>Additional Information to be Furnished to the Issuer</u>.&#160; The Administrator shall furnish to the Issuer from time to time such additional information regarding the Collateral as the Issuer may
        reasonably request.</div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">8</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-indent: 36pt;">Section 1.06.&#160; <u>Independence of the Administrator</u>.&#160; For all purposes of this Agreement, the Administrator shall be an independent contractor and shall not be subject to the supervision of the Issuer or the Owner
        Trustee with respect to the manner in which it accomplishes the performance of its obligations hereunder.&#160; Unless expressly authorized by the Issuer, the Administrator 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.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">Section 1.07.&#160; <u>No Joint Venture</u>.&#160; Nothing contained in this Agreement shall (i) constitute the Administrator and either the Issuer or the Owner Trustee as members of any partnership, joint venture, association,
        syndicate, unincorporated business or other separate entity, (ii) be construed to impose any liability as such on any of them or (iii) 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.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">Section 1.08.&#160; <u>Other Activities of Administrator</u>.&#160; Nothing herein shall prevent the Administrator or its Affiliates from engaging in other businesses or, in its sole discretion, from acting in a similar
        capacity as an administrator for any other Person, even though such Person may engage in business activities similar to those of the Issuer, the Owner Trustee or the Indenture Trustee.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">Section 1.09.&#160; <u>Term of Agreement; Resignation and Removal of Administrator</u>.&#160; This Agreement shall continue in force until the dissolution of the Issuer, upon which event this Agreement shall automatically
        terminate.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Subject to Section 1.09(c), (i) the Administrator may resign its duties hereunder by providing the Issuer with at least 60 days&#8217; prior written notice and (ii) the
        Issuer may remove the Administrator without cause by providing the Administrator with at least 60 days&#8217; prior written notice.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Subject to Section 1.09(c), at the sole option of the Issuer, the Administrator may be removed immediately upon written notice of termination from the Issuer to the
        Administrator if any of the following events shall occur:</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: rgb(0, 0, 0);">the Administrator shall default in the performance of any of its duties under this Agreement and, after notice of such default,
          shall not cure such default within ten days (or, if such default cannot be cured in such time, shall not give within ten days such assurance of cure as shall be reasonably satisfactory to the Issuer); or</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);">an Insolvency Event occurs with respect to the Administrator.</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: rgb(0, 0, 0);">The Administrator agrees that if an Insolvency Event occurs with respect to it, it shall give written notice thereof to the Issuer and the Indenture Trustee within seven days after the occurrence
        of such event.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;No resignation or removal of the Administrator pursuant to this Section shall be effective until (i) a successor Administrator shall have been appointed by the
        Issuer and (ii) such successor Administrator shall have agreed in writing to be bound by the terms of this Agreement in the same manner as the Administrator is bound hereunder.&#160; The appointment of any successor Administrator shall be effective
        after providing prior written notice to each Rating Agency with respect to the proposed appointment.</div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">9</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Subject to Section 1.09(c), the Administrator acknowledges that upon the appointment of a Successor Servicer pursuant to the Sale and Servicing Agreement, the
        Administrator shall immediately resign and such Successor Servicer shall automatically become the Administrator under this Agreement.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">Section 1.10.&#160; <u>Action Upon Termination, Resignation or Removal</u>.&#160; Promptly upon the effective date of termination of this Agreement pursuant to the first sentence of Section 1.09 or the resignation or removal of
        the Administrator pursuant to Section 1.09(a), (b) or (d), respec-tively, the Administrator shall be entitled to be paid all fees and reimbursable expenses accruing to it to the date of such termination, resignation or removal.&#160; The Administrator
        shall forthwith upon such termination pursuant to the first sentence of Section 1.09 deliver to the Issuer all property and documents of or relating to the Collateral then in the custody of the Administrator.&#160; In the event of the resignation or
        removal of the Administrator pursuant to Section 1.09(a), (b) or (d), respectively, the Administrator shall cooperate with the Issuer and take all reasonable steps requested to assist the Issuer in making an orderly transfer of the duties of the
        Administrator.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">Section 1.11.&#160; <u>Notices</u>.&#160; Unless otherwise specified in this Agreement, all notices, requests, demands, consents, waivers or other communications to or from the parties to this Agreement will be in writing.&#160;
        Notices, requests, demands, consents and other communications will be deemed to have been given and made, (i) upon delivery or, in the case of a letter mailed via registered first class mail, postage prepaid, three days after deposit in the mail
        and (ii) in the case of (a) a facsimile, when receipt is confirmed by telephone or by reply e&#8209;mail or reply facsimile from the recipient, (b) an e-mail, when receipt is confirmed by telephone or by reply e&#8209;mail from the recipient and (c) an
        electronic posting to a password-protected website, upon printed confirmation of the recipient&#8217;s access to such password-protected website, or when notification of such electronic posting is confirmed in accordance with clauses (ii)(b) through
        (ii)(c) above.&#160; Unless otherwise specified in this Agreement, any such notice, request, demand, consent or other communication will be delivered or addressed, in the case of (i) the Issuer or the Owner Trustee, at the Corporate Trust Office
        (e-mail: acooper2@wilmingtontrust.com, telecopier: (302) 636-4140), (ii) the Administrator, at 35555 W. Twelve Mile Road, Suite 100, Farmington Hills, Michigan&#160; 48331, Attention: Steven C. Poling (e-mail: steven.c.poling@mercedes-benz.com,
        telecopier: (817) 224-3587), (iii) the Depositor, at 35555 W. Twelve Mile Road, Suite 100, Farmington Hills, Michigan 48331, Attention: Michelle D. Spreitzer (email: michelle.d.spreitzer@mercedes-benz.com, telecopier: (817) 224-3587) and (iv) the
        Indenture Trustee, at its Corporate Trust Office, (e-mail: melissa.rosal@usbank.com and e-mail: juan.hernandez3@usbank.com, Telephone: (312) 332-7496 and (312) 416-6525); or as to each of the foregoing, at such other address as shall be designated
        by written notice to the other entities.</div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">10</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-indent: 36pt;">Section 1.12.&#160; <u>Amendments</u>.&#160; This Agreement may be amended from time to time by a written amendment duly executed and delivered by the parties hereto, with the written consent of the Owner Trustee but without
        the consent of any Securityholder, for the purposes of curing any ambiguity or mistake, 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
        Securityholders; provided, that no such amendment shall materially and adversely affect the interest of any Noteholder.&#160; This Agreement may also be amended by the parties hereto with the written consent of the Noteholders evidencing at least 51% of
        the Note Balance of the Notes or, if the Notes have been paid in full, the Certificateholders evidencing at least 51% of the aggregate Certificate Percentage Interest 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 Securityholders; provided, however, that no such amendment may (i) increase or reduce in any manner the amount of, or accelerate or delay the timing
        of, collections of payments on the Receivables or distributions that are required to be made for the benefit of the Securityholders without the consent of all Securityholders adversely affected thereby or (ii) reduce the percentage of the Note
        Balance of the Notes or of the Certificate Percentage Interest, the consent of the Noteholders or the Certificateholders, respectively, of which is required for any amendment to this Agreement without the consent of 100% of the Holders of all Notes
        then Outstanding or all Certificates, respectively.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: rgb(0, 0, 0);">An amendment to this Agreement shall be deemed not to materially adversely affect the interests of any Noteholder if the Person requesting such amendment obtains and delivers to the Owner Trustee
        and the Indenture Trustee an Opinion of Counsel or an Officer&#8217;s Certificate of the Issuer to that effect and, with respect to the Notes, by satisfaction of the Rating Agency Condition with respect to such amendment.&#160; Notwithstanding the foregoing,
        the Administrator may not amend this Agreement without the consent of the Depositor, which consent shall not be unreasonably withheld.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">Section 1.13.&#160; <u>Successors and Assigns</u>.&#160; This Agreement may not be assigned by the Administrator unless such assignment is previously consented to in writing by the Issuer and the Owner Trustee, and subject to
        the satisfaction of the Rating Agency Condition in respect thereof.&#160; An assignment with such consent and satisfaction, if accepted by the assignee, shall bind the assignee hereunder in the same manner as the Administrator is bound hereunder.&#160;
        Notwithstand-ing the foregoing, this Agreement may be assigned by the Administrator without the consent of the Issuer or the Owner Trustee to a Person that is a successor (by merger, consolidation or purchase of assets) to the Administrator;
        provided, that such successor Person executes and delivers to the Issuer, the Owner Trustee and the Indenture Trustee an agreement, in form and substance reasonably satisfactory to the Owner Trustee and the Indenture Trustee, in which such Person
        agrees to be bound hereunder by the terms of said assignment in the same manner as the Administrator is bound hereunder.&#160; Subject to the foregoing, this Agreement shall bind any successors or assigns of the parties hereto.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">Section 1.14.&#160; <u>Governing Law</u><font style="font-weight: bold; color: rgb(0, 0, 0);">.&#160; </font><font style="font-weight: bold;">THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
          STATE OF NEW YORK, WITHOUT REGARD TO ANY OTHERWISE APPLICABLE PRINCIPLES OF CONFLICT OF LAWS (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL
          BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.</font></div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">11</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-indent: 36pt;">Section 1.15.&#160; <u>WAIVER OF JURY TRIAL</u><font style="font-weight: bold; color: rgb(0, 0, 0);">.&#160; </font><font style="font-weight: bold;">TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE PARTIES HERETO WAIVES
          ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE BETWEEN THE PARTIES HERETO ARISING OUT OF, CONNECTED WITH, RELATED TO OR INCIDENTAL TO THE RELATIONSHIP BETWEEN ANY OF THEM IN
          CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.&#160; INSTEAD, ANY SUCH DISPUTE RESOLVED IN COURT WILL BE RESOLVED IN A BENCH TRIAL WITHOUT A JURY.</font></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">Section 1.16.&#160; <u>Table of Contents and Headings</u><font style="color: rgb(0, 0, 0);">.&#160; </font>The Table of Contents and the various headings in this Agreement are included for convenience only and will not affect
        the meaning or interpretation of any provision of this Agreement.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">Section 1.17.&#160; <u>Counterparts</u>.&#160; 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.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">Section 1.18.&#160; <u>Severability</u>.&#160; If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions
        or terms shall be deemed severable from the remaining covenants, agreements, provisions and terms of this Agreement and shall in no way affect the validity or enforceability of the other covenants, agreements, provisions and terms of this
        Agreement.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">Section 1.19.&#160; <u>Limitation of Liability of Owner Trustee and Indenture Trustee</u>.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Notwithstanding anything contained herein to the contrary, it is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and
        delivered by Wilmington Trust, National Association, not individually or personally but solely as Owner Trustee, in the exercise of the powers and authority conferred and vested in it, (ii) each of the representations, undertakings and agreements
        herein made on the part of the Issuer is made and intended not as a personal representation, undertaking or agreement by the Owner Trustee but is made and intended for the purpose of binding only the Issuer, (iii) nothing herein contained shall be
        construed as creating any liability on the Owner Trustee, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person
        claiming by, through or under the parties hereto, (iv) the Owner Trustee has not verified and has made no investigation as to the accuracy or completeness of any representations or warranties made by the Issuer hereunder and (v) under no
        circumstances shall the Owner Trustee be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer
        under this Agreement or any other related documents.&#160; For all purposes of this Agreement, 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 Six, Seven and Eight of the Trust Agreement.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Notwithstanding anything contained herein to the contrary, this Agreement has been executed by U.S. Bank Trust Company, National Association solely in its capacity
        as Indenture Trustee under the Indenture, and in no event shall the Indenture Trustee in its individual capacity 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.</div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">12</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-indent: 36pt;">Section 1.20.&#160; <u>Third&#8209;Party Beneficiary</u>.&#160; The Owner Trustee is a third&#8209;party beneficiary to this Agreement and is entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it were
        a party hereto.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">Section 1.21.&#160; <u>Successor Servicer and Administrator</u>.&#160; The Administrator shall undertake, as promptly as possible after the giving of notice of termination to the Servicer of the Servicer&#8217;s rights and powers
        pursuant to Section 7.01 of the Sale and Servicing Agreement, to enforce the provisions of Section 7.02 of the Sale and Servicing Agreement with respect to the appointment of a Successor Servicer.&#160; Such Successor Servicer shall, upon compliance
        with the second to last sentence of Section 7.02 of the Sale and Servicing Agreement, become the successor Administrator hereunder; provided, however, that if the Indenture Trustee shall become such successor Administrator, the Indenture Trustee
        shall not be required to perform any obligations or duties or conduct any activities as successor Administrator that would be prohibited by law and not within the banking and trust powers of the Indenture Trustee.&#160; In such event, the Indenture
        Trustee may appoint a sub-administrator to perform such obligations and duties. Any transfer of servicing pursuant to Section 7.02 of the Sale and Servicing Agreement and related succession as Administrator hereunder shall not constitute an
        assumption by the related successor Administrator of any liability of the related outgoing Administrator arising out of any breach by such outgoing Administrator of such outgoing Administrator&#8217;s duties hereunder prior to such transfer.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;">Section 1.22.&#160; <u>Nonpetition Covenants</u>.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Each of the Depositor, the Administrator, the Owner Trustee and the Indenture Trustee covenants and agrees that it will not at any time institute against, or join
        any Person in instituting against, the Issuer any bankruptcy, reorganization, arrangement, insolvency or liquidation Proceedings, or other Proceedings under any Insolvency Law in connection with any obligations relating to any of the Basic
        Documents and agrees that it will not cooperate with or encourage others to file a bankruptcy petition against the Issuer during the same period.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Each of the Issuer, the Administrator, the Owner Trustee and the Indenture Trustee covenants and agrees that it will not at any time institute against, or join any
        Person in instituting against, the Depositor any bankruptcy, reorganization, arrangement, insolvency or liquidation Proceedings, or other Proceedings under any Insolvency Law in connection with any obligations relating to any of the Basic Documents
        and agrees that it will not cooperate with or encourage others to file a bankruptcy petition against the Depositor during the same period.</div>
      <div>&#160;</div>
      <div>Section 1.23.&#160; <u>Electronic Signatures</u>.&#160; Any signature (including any electronic symbol or process attached to, or associated with, a contract or other record and adopted by a Person with the intent to sign, authenticate or accept such
        contract or record) hereto or to any other certificate, agreement or document related to this Agreement, and any contract formation or record-keeping through electronic means shall have the same legal validity and enforceability as a manually
        executed signature or use of a paper-based recordkeeping system to the fullest extent permitted by Applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records
        Act, or any similar State law based on the Uniform Electronic Transactions Act.</div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">13</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-indent: 36pt; color: rgb(0, 0, 0);">IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective officers, thereunto duly authorized, as of the day and year first above written.</div>
      <div>&#160;</div>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z16f0fd60f30b40959cb5efb32e57cc3d">

            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td colspan="2" style="vertical-align: top;">
                <div style="color: rgb(0, 0, 0);">MERCEDES-BENZ AUTO RECEIVABLES TRUST 2024-1, as Issuer</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 47%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">
                <div style="color: rgb(0, 0, 0);">By:</div>
              </td>
              <td style="width: 47%; vertical-align: top;">
                <div style="color: rgb(0, 0, 0);">WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 47%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                <div>By:</div>
              </td>
              <td style="width: 47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>/s/ Chris Bayer</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 47%; vertical-align: top;">
                <div>Name: Chris Bayer</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 47%; vertical-align: top;">
                <div>Title: Vice President</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 47%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td colspan="2" style="vertical-align: top;">
                <div style="color: rgb(0, 0, 0);">MERCEDES-BENZ RETAIL RECEIVABLES LLC,&#160; as Depositor</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 47%; vertical-align: top;">
                <div style="color: rgb(0, 0, 0);"><br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                <div>By:</div>
              </td>
              <td style="width: 47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>/s/ Susan Sinclair</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 47%; vertical-align: top;">
                <div>Name: Susan Sinclair</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 47%; vertical-align: top;">
                <div>Title: Vice President</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 47%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td colspan="2" style="vertical-align: top;">
                <div style="color: rgb(0, 0, 0);">U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, not in its individual capacity but solely as Indenture Trustee </div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 47%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                <div>By:</div>
              </td>
              <td style="width: 47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>/s/ Juan S. Hernandez</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 47%; vertical-align: top;">
                <div>Name: Juan S. Hernandez</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 47%; vertical-align: top;">
                <div>Title: Assistant Vice President</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 47%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td colspan="2" style="vertical-align: top;">
                <div style="color: rgb(0, 0, 0);">MERCEDES-BENZ FINANCIAL SERVICES&#160; USA LLC, as Administrator </div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 47%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                <div>By:</div>
              </td>
              <td style="width: 47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>/s/ Susan Sinclair</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 47%; vertical-align: top;">
                <div>Name: Susan Sinclair</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 47%; vertical-align: top;">
                <div>Title: Vice President</div>
              </td>
            </tr>

        </table>
        <div>
          <div style="text-align: right; font-style: italic;"> <br>
          </div>
          <div style="text-align: right; font-style: italic;">Administration Agreement</div>
          <div style="font-style: normal;"> <br>
          </div>
        </div>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <!--PROfilePageNumberReset%Num%1%A-%%-->
      <div style="text-align: right; color: rgb(0, 0, 0);">EXHIBIT A</div>
      <div>&#160;</div>
      <div style="text-align: center; color: rgb(0, 0, 0);">POWER OF ATTORNEY PURSUANT TO</div>
      <div style="text-align: center;">&#160;SECTION 1.02(c) OF ADMINISTRATION AGREEMENT </div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: rgb(0, 0, 0);">KNOW ALL MEN BY THESE PRESENTS, that Wilmington Trust, National Association, a national banking association,&#160; not in its individual capacity but solely as Owner Trustee of Mercedes-Benz Auto
        Receivables Trust 2024-1, a Delaware statutory trust (the &#8220;Issuer&#8221;), as grantor (in such capacity, the &#8220;Grantor&#8221;), does hereby appoint MBFS USA LLC, a Delaware limited liability company (&#8220;MBFS USA&#8221;), as grantee (the &#8220;Grantee&#8221;), as its
        attorney-in-fact with full power of substitution and hereby authorizes and empowers the Grantee, in the name of and on behalf of the Grantor or the Issuer, to take the following actions from time to time with respect to the duties of MBFS USA, as
        administrator (in such capacity, the &#8220;Administrator&#8221;) under the administration agreement, dated as of January 1, 2024 (the &#8220;Administration Agreement&#8221;), among the Issuer, the Administrator, Mercedes-Benz Retail Receivables LLC (&#8220;Mercedes-Benz Retail
        Receivables&#8221;) and U.S. Bank Trust Company, National Association, for the purpose of executing on behalf of the Grantor or the Issuer all such documents, reports, filings, instruments, certificates and opinions required pursuant to the Basic
        Documents.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: rgb(0, 0, 0);">The Grantee is hereby empowered to do any and all lawful acts necessary or desirable to effect the performance of its duties as Administrator under the Administration Agreement and the Grantor
        hereby ratifies and confirms any and all lawful acts the Grantee shall undertake pursuant to and in conformity with this Power of Attorney.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: rgb(0, 0, 0);">This Power of Attorney is revocable in whole or in part as to the powers herein granted upon notice by the Grantor.&#160; If not earlier revoked, this Power of Attorney shall expire completely or, if so
        indicated, in part, upon the earlier of the (i) termination of the amended and restated trust agreement, dated as of January 1, 2024 (the &#8220;Trust Agreement&#8221;), between Mercedes-Benz Retail Receivables, as depositor, and Wilmington Trust, National
        Association (&#8220;WTNA&#8221;), as owner trustee, or (ii) termination of the Administration Agreement.&#160; Capitalized terms used herein that are not otherwise defined shall have the meanings ascribed thereto in the Trust Agreement or, if not defined therein,
        in the Administration Agreement, as the case may be.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: rgb(0, 0, 0);">This Power of Attorney shall be created under and governed and construed under the internal laws of the State of New York.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: rgb(0, 0, 0);">The Grantor executes this Power of Attorney with the intent to be legally bound hereby, and with the intent that such execution shall have the full dignity afforded by the accompanying witnessing
        and notarization and all lesser dignity resulting from the absence of such witnessing and notarization or any combination thereof.</div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">A-1</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-indent: 36pt; color: rgb(0, 0, 0);">It is expressly understood and agreed by the Grantee and any person relying on this Power of Attorney that (a) the Administration Agreement and this Power of Attorney is executed and delivered by
        WTNA, not individually or personally, but solely as Owner Trustee, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements made in the Administration Agreement or in this
        Power of Attorney on the part of the Grantor is made and intended not as personal representations, undertakings and agreements by WTNA but is made and intended for the purpose of binding only the Grantor or the Owner Trustee, respectively, (c)
        nothing in the Administration Agreement or herein contained shall be construed as creating any liability on WTNA, individually or personally, to perform any covenant either expressed or implied contained in the Administration Agreement or herein of
        the Grantor or the Owner Trustee, all such liability, if any, being expressly waived by the Grantee and any person relying on this Power of Attorney and by any person claiming by, through or under the Grantee or such person, (d) WTNA has made no
        investigation as to the accuracy or completeness of any representations and warranties made in the Administration Agreement or herein and (e) under no circumstances shall WTNA be personally liable for the payment of any indebtedness or expenses of
        the Grantor or the Owner Trustee or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Grantor or the Owner Trustee under the Administration Agreement, this Power of Attorney or any
        other related documents.</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: rgb(0, 0, 0);">Notwithstanding anything herein to the contrary, this Power of Attorney does not, and is not intended to, and will not be construed to, grant any authority to the Grantee to (i) expand, increase,
        incur, or otherwise impose any duties, liabilities or obligations of or on the Owner Trustee, as trustee or in its individual capacity, or (ii) provide any guaranty, indemnity or property of the Owner Trustee, as trustee or in its individual
        capacity, for any reason whatsoever.</div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">A-2</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div>Dated this ____ day of January, 2024.</div>
      <div><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z7db349813dde4c11830d8790c94d8fd0">

            <tr>
              <td style="width: 49.89%; vertical-align: top;">
                <div style="color: rgb(0, 0, 0);">[Seal]</div>
              </td>
              <td colspan="2" style="vertical-align: top;">
                <div style="color: rgb(0, 0, 0);">WILMINGTON TRUST, NATIONAL ASSOCIATION,</div>
                <div>not in its individual capacity but solely as Owner Trustee of Mercedes-Benz Auto Receivables Trust 2024-1 </div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.89%; vertical-align: top;">&#160;</td>
              <td colspan="2" style="vertical-align: top;"><br>
              </td>
            </tr>
            <tr>
              <td style="width: 49.89%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                <div style="color: rgb(0, 0, 0);">By:</div>
              </td>
              <td style="width: 47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0);"><br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.89%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;"><br>
              </td>
              <td style="width: 47%; vertical-align: top;">
                <div style="color: rgb(0, 0, 0);">Name:</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49.89%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;"><br>
              </td>
              <td style="width: 47%; vertical-align: top;">
                <div style="color: rgb(0, 0, 0);">Title:</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: center;">
        <table cellspacing="0" cellpadding="0" border="0" id="zada5e22e760b4145949adef6d556b56a" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td nowrap="nowrap" style="vertical-align: top;" colspan="2">
                <div style="color: #000000;">Signed and delivered in the presence of:</div>
              </td>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top;" colspan="2">
                <div style="color: #000000;">&#160;</div>
              </td>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                <div style="color: #000000;">&#160;</div>
              </td>
              <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top;" colspan="2">
                <div style="color: #000000;">&#160;</div>
              </td>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top;" colspan="2">
                <div style="color: #000000;">Address:</div>
              </td>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; padding-bottom: 2px;">
                <div style="color: #000000;">&#160;</div>
              </td>
              <td style="width: 42%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top;" colspan="2">
                <div style="color: #000000;">&#160;</div>
              </td>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top;" colspan="2">
                <div style="color: #000000;">[Unofficial Witness]</div>
              </td>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
            </tr>

        </table>
        <div><br>
        </div>
        <br>
        <font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">A-3</font> </div>
      <div>
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
